The Business Times, 5 May 1977
1977-05-05
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The Business Times
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Title Section10 1977-05-05 1 BUSINESS TIMES M.C.(P) 300/1/77 THURSDAY, MAY 5, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article54 1977-05-05 1 UPI PARIS, Wed. The United States has agreed to the admission of Vietnam to the United Nations and to the early establishment of diplomatic relations with the Hanoi government, Vietnamese Deputy Foreign Minister Phan Hlen announced today. The announcement followed two days of diplomatic talks hereUPI - 54 words
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Article74 1977-05-05 1 Reuter MANILA, Wed. President Marcos today ordered all central government development funds for the 13 southern provinces affected by the Muslim insurgency to be channelled through a provisional government he has set up for the region. The move is apparently designed to demonstrate his Intention to goReuter - 74 words
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Article67 1977-05-05 1 KUALA LUMPUR, Wed. The Malaysia Building Society Berhad (MBSB) has approved four low-cost housing projects in Selangor and the federal territory for which loans totalling M 525.5 million will be given to buyers. The projects one by City Hall and three by the Selangor State Economic Development67 words
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Article64 1977-05-05 1 Reuter BANGKOK, Wed. The Mineral Resources Department has discovered uranium In many different sites in northeast Thailand, official sources said today. Mr. Sa-Ngob Keopaitoon, chief of the department's mineral economic division, said the quantities of uranium found In several districts of Khonkaen province, 440 km northeastReuter - 64 words
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Article58 1977-05-05 1 MORIB, Wed. The general election will be held before 1979, National Front secretary-general Encik Abdul Ghafar Baba said today. However, the issue had not yet been discussed by the Front, he added. Encik Ohafar, who is also Umno vice-president, was speaking at a dialogue with about58 words
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Article28 1977-05-05 1 LONDON, Wed. The stock market closed generally higher in thin trading and at 3.00 pm the Financial Times Index was up 8.8 points to 436.8.28 words
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Article84 1977-05-05 1 UPI NEW YORK, Wed. The stock market struggled for direction today in moderate trading of New York Stock Exchange issues. The Dow Jones industrial average, which gained 2.97 points yesterday, was off 2.12 points to 932.07 shortly before the first hour of trading. Allied chemical, American Brands, BethlehemUPI - 84 words
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Chief price change
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Article, Illustration184 1977-05-05 1 Rises Most active C Sugar* 191 1* G Lumber 492.000 M Credit 120 10 Haw Par 291,000 Incbcapr 230 +9 Ben 283.000 Pan Electric 191 +9 C Sugar* 225,000 W Jack* 132 +8 Total Turnover: 4.52 M« City Dev 92 +8 Total Value: S7.39 M LOB 302184 words
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Article113 1977-05-05 1 Rites Most octivc SEA Corp C. Sugar* Sim Lim Inch cape G. Lumber Pan. Elect. M. Tobacco O.C'.B.C. A. Hitam Tin MrOedit City Dev. 3.42 1.98 0 83 .22 .20 18 General Lumber Central Sugars Haw Ptr 915.000 493.000 131.000 2 32 13 Aim I.im 123.000 0.79^113 words
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1095 1977-05-05 1 QUEK PECK LIM - INTERCHANGEABLE ON 4 EXCHANGES By QUEK PECK LIM SIME Darby Holdings lOp shares are now freely interchangeable on all four stock exchanges it is quoted on following yesterday's announcement that the company has been granted a unified quote far all its shares on the1,095 words
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564 1977-05-05 1 THE public offer of 10.5 million Msl shares by Cycle and Carriage Ltd (CCL)'s Malaysian subsidiary has been oversubscribed by IVi times. In releasing the results of the offer late yesterday, Cycle and Carriage Bin tang (CCB) also announced a 40 per cent jump in564 words
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Article134 1977-05-05 1 Reuter KUALA LUMPUft, Wed. New Zealand trade officials will hold a seminar here on May 12 on the operation of New Zealand's generalised scheme of preferences and its trading opportunities for Malaysia as a member of Asean, the New Zealand High Commission said hereReuter - 134 words
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360 1977-05-05 1 US businessmen and union leaders have teamed up successfully to ask for protective measures against imports so that the potential for more such alliances cannot be minimised. This was the view of Mr. J.O. Sims, vice-president of the Bank of America, who spoke yesterday on360 words
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Article127 1977-05-05 1 HONGKONG, Wed. Hongkong's narrowly defined money supply Ml fell 5.5 per cent In March compared with February to HKf 15.23 billion (SsB billion), following a 7.5 per cent rise In February, Banking Commission figures show. The more broadly feflned M 2 aggregate fell *1 per cent127 words
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Article169 1977-05-05 1 SEOUL. Wed. The United States and South Korea today ended a three-day conference here deadlocked over the level of Korean shoe shipments to America. This was the first round of negotiations since April 1, when President Jimmy Carter ordered his special trade representative, Mr.169 words
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Article51 1977-05-05 1 Reuter KUALA LUMPUR, Wed. About 60 delegates from Asia-Pacific region will attend a meeting of the United Nations university (UNU) here from May 24 to 25, It was announced here today. Delegates from Asean, Australia, New Zealand, FIJI, Papua New Guinea. Hongkong and Burma will attend theReuter - 51 words
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Article, Illustration149 1977-05-05 1 MR Lye Khay Pong (above), deputy managing director of Singapore Airlines, and the man who handled moat of the negotiation* for the airline in its recent bid to get approval for a route to America, has resigned. A small item in Outlook, the SIA house149 words
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Article300 1977-05-05 1 A THREE-DAY Asian labour summit opens here today under the auspices of the ICFTU-Asian Regional Organisation. About 85 delegates from 19 countries will attend. The countries are Australia. Bangladesh, Taiwan, Fiji, Hongkong, India, Indonesia. Israel, Japan,. S. Korea, Malaysia, New Zealand. Pakistan, Papua New Guinea, Philippines, Singapore.300 words
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207 1977-05-05 1 LOCAL bids for the Internationa) Monetary Fund's ninth gold auction were described by dealers as "very thin" yesterday. On sale are 525,000 ounces of IMF gold, with a market Erlce last reported to be overlng at the USII4B an ounce level, up 50207 words
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Article196 1977-05-05 1 UPI JAKARTA, Wed. Late returns from Indonesia's May 2 general elections today showed the Government front Golkar Party slipping slightly In popularity and jlrew protests from opposition Muslims of alleged election malpractices. The Muslims, in a formal statement signed by their leaders, said their quarrelUPI - 196 words
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Page 1 Advertisements
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Advertisement39 1977-05-05 1 Colour TV is simply great SEE PAGE U I Oversea* Newt/TV A Oversew Stock* P7 Radio -P2 Commodities -PS C Local Co New. -P4 g™, -Pit International Co News P5 Local ft Overseas News Local Stocks P« -PH. 1239 words
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Advertisement130 1977-05-05 1 SHARP SOLVED (FAST, ACCURATE) THE MOST COMPLICATED SCIENTIFIC CALCULATIONS Yps. aH problems ca r bt-.* so'vo i it s a question of firm- and accufa 'v And me anc. mistaken arp a hat Vf cannot i" m today s hiqhly com pet *;ve and most doTirin'j'r q market Be>nq p.r130 words
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Advertisement322 1977-05-05 1 WHISKY 100% SCOTCH WHISKIES blended and bottled in Scotland under Government Supervision Imported by Cold Storage Which bank cut the world down to size, just for you? Wc did Hank «>t America. I hrouuh our new ot Id Bank mu I ision. m u dis id oil up the world322 words
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OVERSEAS
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478 1977-05-05 2 SWITCHING CURRENCY INFLOWS Reuter LONDON, Wed. Senior bankers here believe Britain is employing additional foreign exchange techniques to switch currency Inflows into forward delivery markets. Instead of using conventional spot operations to check sterling at the 1.72-level. These swap operations, involving sales of dollars forReuter - 478 words
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Article136 1977-05-05 2 Reuter GLASGOW, Wed. Britain's ruling Labour Party lost ground In municipal elections throughout Scotland the first national test of political feeling in Scotland since the October 1974 general election. The chief beneficiary in early results declared today was the Scottish National Party (SNP), which campaignsReuter - 136 words
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399 1977-05-05 2 Reuter LONDON, Wed. British business confidence continued to improve gradually in the first quarter but the pace of recovery is still far slower than in previous business cycles, according to the latest quarterly survey of industrial trends from the Confederation of British Industry. But tneReuter - 399 words
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188 1977-05-05 2 UPI LONDON, Wed. North 8m oil can bring a remarkable economic transformation to Britain, Dr. Dickson Mahon, Minister of Stale for Energy, said yesterday. Dr. Mahon, speaking at a British Government reception at the offshore technology conference, said "as productionUPI - 188 words
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Article74 1977-05-05 2 Reuter LONDON, Wed. A British Government agency, the Crown Agents, said It arranged a US$22O million (Sss4l million) five-year loan package with a syndicate of British banks. The loan will allow It to refinance its Investment In Abbey Capital Property group of Australia as aReuter - 74 words
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273 1977-05-05 2 Reuter QUATEMALA CITY, Wed. United Nations secretary general Kurt Waldhelm predicted a major global financial catastrophe If developing countries continued to borrow money on the present scale. His warning came at a press conference here last night at the end of the second dayReuter - 273 words
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326 1977-05-05 2 AP Reuter ROME, Wed. The UN Food and Agriculture Organisation (FAO) is proposing a special US$2O million (Ss49 million) fund to help developing countries combat huge losses that occur to food products before they reach the tables of the hungry. FAO's proposal, announcedAP; Reuter - 326 words
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295 1977-05-05 2 UPI PARIS, Wed. The Gaulllsts are Increasing their efforts to find a solid political platform that will help, with or without the support of the Cabinet, the bickering Government coalition win In the 1978 general elections. After a bitter battle of words between theUPI - 295 words
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Article155 1977-05-05 2 Reuter PARIS, Wed. France's [>lanned six billion franc oan will have an 8.8 per cent coupon, a 15 year life and be Issued on May 23, Deputy Finance Minister Robert Boulln said. He told a press conference the loan will be redeemed In 15 equal annual InstalmentsReuter - 155 words
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367 1977-05-05 2 AP WASHINGTON, Wedfc A US House of Representatives Committee voted yesterday to cut US military aid to Zaire in what backers called a signal to President Carter and Africa that Congress wants no military Involvement on that continent. However, the House InternationalAP - 367 words
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201 1977-05-05 2 AP COPENHAGEN, Wed. A Danish naval vessel has been sent to Intervene "by force If necessary" In a new fish war between Dutch and Danish trawlers In the North Sea, the Fisheries Ministry announced yesterday. A ministry spokesman accused the DutchAP - 201 words
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260 1977-05-05 2 Reuter PARIS, Wed. The French Industry Ministry Is considering lowering the profit margins allowed on sales of certain Imports to the level of margins on competing' French-made goods, a ministry spokesman said. The measure is one of several being studied In a bidReuter - 260 words
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Article87 1977-05-05 2 Reuter WASHINGTON, Wed. President Carter said he supported legislation to appoint a special prosecutor with wide-ranging authority to investigate alledged misconduct by the President, Vice President, Cabinet officers and White House stafl. In a statement released by the White House, Mr. Carter also said he sentReuter - 87 words
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291 1977-05-05 2 Reuter BRUSSELS, Wed. The row over Common Market participation at the London summit this weekend flared up unexpectedly here yesterday when France successfully moved to keep EEC Commission president Roy Jenkins' attendance to a minimum. The nine Common Market heads ofReuter - 291 words
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115 1977-05-05 2 Reuter BARTLESVILLE (Oklahoma), Wed. The Phillips Petroleum Company said yesterday it had resumed oil drilling operations at two of Its three platforms In the Norwegian sector of the North Sea. The third platform, Bravo, was capped during the weekend after an elfhtday blowout which spewedReuter - 115 words
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Article52 1977-05-05 2 Reuter WASHINGTON, Wed. President Carter announced yesterday that his wife, Rosalynn, will visit seven countries in South and central America and the Caribbean next month. He told reporters that she would make the trip In the first two weeks of June and would have talks with Latin AmericanReuter - 52 words
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337 1977-05-05 3 Reuter NEW YORK, Wed. The Irish Republic will soon announce significant new investment by Japanese, Canadian, Australian and American companies, the Irish Industry and Commerce Minister said yesterday. Minister Justin Keating told a news conference that during his visit to the US, Ireland obtainedReuter - 337 words
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141 1977-05-05 3 Reuter OTTAWA, Wed. Finance Minister Donald Macdonald said Canada's annual inflation rate this year will probably surpass the six per cent limit set for the second year of wage and price controls. "I hope wf will not go the seven per cent level,"Reuter - 141 words
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Article45 1977-05-05 3 Reuter AMSTERDAM. Wed. Foreign exchange reserves at the Dutch Central Bank showed their sharpest increase for nearly eight months when they rose 665 million guilders to 12.43 billion guilders in the week ended May 2. according to the Bank's weekly balance sheet. Reuter.Reuter - 45 words
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587 1977-05-05 3 FRANKFURT, Wednesday Reuter FOREIGN corporate treasurers, whose companies are highly liquid, look likely to take part in the growing trend toward termination of mark Eurobond debt raised around 1970, primary bond market sources said. So far this year finance chiefs have called sixReuter - 587 words
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Article, Illustration565 1977-05-05 3 DESPITE 5.2 pc GROWTH RATE IN FIRST QUARTER WASHINGTON, Wednesday Reuter AP UNITED STATES Commerce Secretary Juanlta Kreps said there are some important question marks about US economic performance for the rest of the year, despite an encouraging 5.2 per cent real annual growthReuter; AP - 565 words
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270 1977-05-05 3 AP WASHINGTON, Wed. President Carter announced yesterday, that three Jewish organisations and a prominent business group have agreed on language for an anti-Arab boycott Bill that has won his endorsement. In a statement, Mr. Carter said specific legislative language which he urged Congress to adopt,AP - 270 words
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Article81 1977-05-05 3 AP WASHINGTON, Wed. Legislation to extend the Export-Import Bank through September, 1978, was passed by the US House of Representatives yesterday. The vote was 281 to 126 to extend the bank which encourages exports by US firms by guaranteeing lcfans and extending credit. The bank lends at InterestAP - 81 words
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531 1977-05-05 3 LONDON, Wednesday FT THE FATE of the Evening Standard may hang precariously all this week on a series of talks planned betwpen the Beaver-brook management and Sir James Goldsmith, chairman of Cavenham. Beaverbrook has already recognised that Sir James's terms are likely to giveFT - 531 words
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Article49 1977-05-05 3 Reuter NICOSIA, Wed. Archbishop Makarios, President of Cyprus, will attend the Commonwealth Conference in London next month despite the heart attack he suffered a month ago, government sources said yesterday. They said the 63-year-old President would keep his activities to a minimum while in London. ReuterReuter - 49 words
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Article57 1977-05-05 3 Reuter BONN, Wed. West Germany's federal budget deficit fell to 9.27 bilUon marks in the first three months this year from 11.37 billion in the same period of 1976, the Finance Ministry said. The government has already covered more than a third of its estimated 22.8 billion markReuter - 57 words
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196 1977-05-05 3 Reuter WASHINGTON, Wed. The Congressional Economic Committee said fears of renewed inflation by the United States, Japan and West Germany probably exaggerated. The oommittoe sxpt—ssd the view in a paper on issues that probably will come up at the economic summit meeting inReuter - 196 words
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Article, Illustration456 1977-05-05 3 WASHINGTON. Wed Reuter FEDERAL Reserve Board chairman Arthur Burns said the Federal open market cdmmlttee has tightened the growth rate of the monetary aggregates in the wider definition, M 2 and M 3. He tokl the Senate Banking Committee the trend of growth InReuter - 456 words
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200 1977-05-05 3 Reuter WASHINGTON, Wed. Saudi Arabia's Minuter of Finaace and Natienal Economy, Sheikh Mohammed Ali Abal-Khail, said yesterday Saudi Arabia will contribute to a new International Monetary Fond (IMF) borrowing mechanism the so-called "WittevAn facility." But, the Saudi Minister said he could not reveai theReuter - 200 words
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Article496 1977-05-05 3 Reuter WASHINGTON, Wed. White House Energy Adviser James Schlesinger said yesterday that President Carter's drive to curb fuel wastage would not hurt the United States economy or personal Incomes. But Mr. Schlesinger told a Senate energy committee that, unless the US moves toward greater fuelReuter - 496 words
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Page 2 Advertisements
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Advertisement45 1977-05-05 2 5^V < B •X <A »-m o >i\ *> «> y. A, O i* x. <> < -9 "U -V r >/ -7 "V* 'S <* ■v xN X' <> < V 'X#. ./'v V %> *3 7 O/ l/> '■6 A 4 W t Vt> SP 1 nyw ■mmiiii45 words
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Page 2 Miscellaneous
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Miscellaneous366 1977-05-05 2 THE WEATHER 1 WEATHER report for 24 hours prior to 7.30 p.m. on May 4 at Singapore airport. Maximum Temperature 33.1 °C Associated Humidity 65 Minimum Temperature 25.3° C Associated Humidity 98 Hours of Sunshine 5.60 Rainfall in Millimetres A 1.2 Total Rainfall for the Month 1.2 Total Rainy Days366 words
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Page 3 Advertisements
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Advertisement266 1977-05-05 3 <•> .mericaya It V fc 111 Very many years-ago, in Italy, there existed an exceptionally skillful bespoke bootmaker one Signor Marelli. Signor Marelli's skill in fashioning and working leather earned him a widespread reputation and guaranteed him a steady clientele. The dandy gentlemen of the era flocked to Signor Marelli.266 words
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COMPANY NEWS
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1094 1977-05-05 4 AMCOL Electrical Industries has proposed a capital reduction of 75 cents for every SI ordinary share to bring Its paid-up capital more In line with Its net tangible assets. Outlining the scheme, chairman, Mr Tan Eng Joo, says the company's net assets,1,094 words
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540 1977-05-05 4 INCREASED competition from other merchant banks, a factor which was forecast by Singapore Japan Merchant Bank's chairman Mr Tjio Kay Loen In his last annual report failed to exert any effect on the profits of the merchant bank in 1976 and it ended its third540 words
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Article1117 1977-05-05 4 On May 3 TRADING in options on the Chicago Board Options Exchange on Tuesday came to 103.081 contracts. OPTION JLY OCT JAN STOCK Alcoa SO 71/2 UNTRD UNTRD S7 Alcoa ao 1 1/8 21/8 2 3/4 97 Am Tel ss UNTRD NOL NOL 631/3 Am Tel 801,117 words
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COMPANY MEETINGS
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Article18 1977-05-05 4 THE following company meetings are due: Ma*4, 12 noon, 4 Jalan Tendang, Petallng Jaya.18 words
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Article19 1977-05-05 4 May 4, 4 p.m., Registered Office. Suites 4022-4025, President House, 54 A, Jalan Imbl, Kuala Lumpur.19 words
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Article13 1977-05-05 4 May 12, 12 noon, Bastion House, 8 Jalan Kota, Malacca.13 words
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Article15 1977-05-05 4 May 12, 12 noon, at the Sflangrl-La Hotel, 22 Orange Grove Road. Singapore.15 words
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Article93 1977-05-05 4 MR. Robert J. White has been appointed a director of the* Bank of New South Wales, Australia's oldest and largest bank. Mr. White became chief general manager of the Wales on the retirement of Sir Robert Norman. Sir Robert Will remain as a member of the bank's93 words
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Article524 1977-05-05 4 (Wm Ss Dm Tata I tm LM«ui 10% AprS %Uji )M Inmrbwrf iO%re Ape* Kkpi 1WT1 r j~ !>Hi Apr May* 19*1 r.alla« inahWrtt 19%T* l(Nl May 7 liMTt Ci fimw.t— a%l Apt* May* »%> 9%l April May 19 9%t Aaaa»TW 10%1 ApM May 13 ><mi NtltyuTn MM524 words
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337 1977-05-05 4 STRAITS Steamship Is to Introduce a share option scheme, which will grant employees within Its group of companies options to subscribe for shares In the company. The company says In a letter to shareholders yesterday, that the "the adoption of such a scheme would make337 words
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Article82 1977-05-05 4 PAN MALAYAN HOLDINGS Audited consolidated pre-tax profit 11.44 million for the year ended Dec 31, 1975. Depreciation $29,641 and taxation $735,871 leaving consolidated net profit $671,356. There are no comparative figures as this is the first full %et of consolidated results presented by the company since it changed82 words
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627 1977-05-05 4 ROBERT METZ - By ROBERT METZ NYT THE Tobin Packing Co., a Rochester, N.Y., meatpacker whose listing on the New York Stock Exchange has been tmperiled by continuing losses and depressed market value, apparently has a new lease on life. Mr. J.B. Fuqua, a Georgia entrepreneur,NYT - 627 words
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343 1977-05-05 4 NYT NEW YORK, Wed. John L. Hanigan, elected the new chairman, president and chief executive of Genesco Inc. on Monday, said that he would act to consolidate divisions of the troubled apparel conglomerate and ensure that more decisions will be made at tower levels.NYT - 343 words
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918 1977-05-05 4 JERRY FLINT - By JERRY FLINT NYT EDWARD N. Cole, a former E resident of the General [otors Corp., who died on Monday when the twinengine plane he was flying alone crashed approaching Kalamazoo, Mich had just taken control of the Checker Motors Corp.,NYT - 918 words
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Article140 1977-05-05 4 Reuter DALLAS. Texas, Wed. —Halliburton, a big oil field service arrd engineering company, yesterday reported a 15 per cent gain In profit for the first quarter despite a drop In revenue. Halliburton said profit totalled US$6B.l million, or Si.l 6 a share, for the quarter, upReuter - 140 words
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Article65 1977-05-05 4 MELBOURNE, Wed. Woodside-Burmah Oil feld it abandoned the Scott Reef no 2 well, offshore Western Australia, due to mechanical difficulties, and moved the regional endeavour drill ship 30 metres after to spud Scott Reef no 2-A. The second well is drilling ahead at 454 metres after setting65 words
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98 1977-05-05 4 Reuter NEW ORLEANS, Wed. General Electric expects its second quarter earnings to exceed the restated US$l.O5 a share earned In last year's second quarter, chairman Mr. Reginald H. Jones told reporters after the annual meeting here. He said the expected Increase In second quarter earningsReuter - 98 words
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Advertisement81 1977-05-05 4 ,s Asean Business Quarterly A 72-page quarterly magazine, with no advertisements, costing S$ 10 (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.81 words
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INTERNATIONAL COMPANY NEWS
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149 1977-05-05 5 Reuter PARIS, Wed. Automobiles Citroen intends to open a new factory at Hanoi and is studying a project for a plant In Turkey, company sources said. Citroen already has capacity to produce 3,000 cars a year In Vietnam and hopes to expand this toReuter - 149 words
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Article134 1977-05-05 5 Reuter LONDON, Wed. H.J. Heinz of the US proposes acquiring the remaining 1.70 million ordinary shares In Its UK subsidiary, Heinz UK, the subsidiary announced. It said the shares are mostly held by UK Institutions and the transaction will Involve a cash payment of 450 penceReuter - 134 words
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Article137 1977-05-05 5 Reuter DETROIT, Wed. —Chrysler chairman Mr. John Rlccardo yesterday Increased his estimate for US car sales this year to over 11 million. Previously, the Chrysler chief had predicted that US automakers would sell about 11 million cars this year, up from last year's 10.1 million. At theReuter - 137 words
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Article99 1977-05-05 5 Reuter TOKYO, Wed. Renown said It will offer 9.8 million shares of its common stocks in the form of European Depositary Receipts with Eayment to be completed by lay 26. One EDR consists of 1,000 common shares. Renown said this is the second EDR issue following last year'sReuter - 99 words
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Article38 1977-05-05 5 LONDON, Wed. The coupon on this week's UK one year local authority bond issues was cut to 9 1/4 per cent from 9 5/8 per cent last week, bond market sources said. Pricing was at par.38 words
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Article248 1977-05-05 5 Reuter NEW YORK, Wed. Kennecott Copper Is cautiously optimistic about copper demand and prices for the rest of the year, and, also about Its metal mining division's earnings for the year, president Mr. Frank Mllllken told the annual meeting. While copper demand has been reasonably good, worldReuter - 248 words
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Article122 1977-05-05 5 Reuter HOUSTON, Wed. —Inexco Oil said It and its partners have discovered a new uranium ore deposit at the north-west Athabasca Joint venture In Maurice Bay, Northern Saskatchewan. Uranerzbergbau of Bonn and Saskatchewan Mining and Development, a provincial crown corporation, are its partners, it said. The companyReuter - 122 words
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Article270 1977-05-05 5 Reuter SYDNEY, Wed. The Cliffs Robe River Iron Associates joint venture upgraded iron ore reserves in the Marra Mamba iron formation to 896.7 million tonnes from 786.7 million, Robe River said in its report for quarter ended March 31. The total Marra Mamba reserves, in the WestReuter - 270 words
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Briefly
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Article86 1977-05-05 5 MELBOURNE, Wed. Ansett Transport Industries said it acquired more Associated Securities Ltd (ASL) shares, bflnglng Its total holding to 23.65 million 50 Australian cent par shares or 47.25 per cent of ASL's paid capital. It did not disclose the purchase price. Ansett said late last year it proposed to86 words
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Article36 1977-05-05 5 VIENNA, Wed. The Foreign Trade Bank of Bulgaria is raising a US$2O million, six year Euroloan with a spread of 1 1/8 per cent over London Interbank offered rates, Creditanstalt Bankverein said as Issue manager.36 words
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Article102 1977-05-05 5 Reuter SYDNEY. Wed. Goldsworthy Mining has lifted the force majeure declaration made April 13 on Its iron ore shipments from Port Hedland, Western Australia, general manager Mr. Alfred Kober told Reuter by telephone from Perth. The company declared force majeure after a cyclone damaged the 110 km railReuter - 102 words
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Article59 1977-05-05 5 PARIS, Wed. A Societe Generate spokesman said the bank is considering raising fungs through a floating rate Eurobond Issue but declined to give further details. Asked whether press reports the bank intends to raise US$7O million or $80 million are correct, he said the sum In question seemed59 words
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Article25 1977-05-05 5 LONDON, Wed. The Bowater US$5O million 9% per cent Eurobond due 1992 was priced at par. Issue lead manager Cre.dlt Suisse White Weld said.25 words
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Article42 1977-05-05 5 LONDON, Wed. The US 30 million twelve-year Eurobond for United Biscuits (UK) has been priced at 99 per cent and the coupon reduced to nine per cent from the originally Indicated 9K per cent, Morgan Orenfell said as lead manager.42 words
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Article70 1977-05-05 5 GREENWICH, Wed. Amax said it informed directors of Copper Range it will vote Its shares against the proposed merger of Copper Range into a subsidiary of Louisiana Land and Exploration. Amax said It holds 476,756 shares (about 20 per cent) of Copper Range's outstanding stock. It said it considered70 words
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Article101 1977-05-05 5 OTTAWA, Wed. Finance Minister Mr. Donald MacDonald gave the pricings and yields for the three maturities of the recently announced Cs6oo million Government of Canada bond issue. The 7 1/2 per cent bonds due Feb 1, 1980, are priced at 99.40 per cent to yield about 7.74 per cent101 words
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Article25 1977-05-05 5 LONDON. "Wed. The Norges Kommunalbank 7$ million mark BVi per cent bond, due 1992, was priced at par, lead manager Westdeutsche Landesbank Girozentrale said.25 words
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274 1977-05-05 5 Reuter BRISBANE, Wed. Thiess Holdings told Brisbane Stock Exchange it has held Informal discussions concerning Its long-term relationship with Its largest shareholder, Mlm Holdings, but these have never reached a point where any firm proposal was contemplated. Thiess was replying to a queryReuter - 274 words
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Article600 1977-05-05 5 ENERGY SPECULATION NYT NEW YORK, Wed. Investors are continuing their search for companies that could benefit from the Carter energy programme, a quest that has brought to the fore some stocks that have not had much attention in years. While the search Is instructive and could lead toNYT - 600 words
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Article202 1977-05-05 5 AP WASHINGTON, Wed. —The US Securities and Exchange Commission yesterday charged Occidental Petroleum with making approximately U*****,000 In illegal or questionable payments overseas during a period from 1968 to about 1973. The SEC complaint said Occidental secretly maintained two foreign subsidiaries and foreign bank accounts whoseAP - 202 words
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171 1977-05-05 5 MANILA, Wed. San Miguel, with total sales In 1976 of 2.2 billion jpesos, making It the co untry's biggest private company, says in Its annual report that its Investments both domestic and overseas facilities are now worth more than four times their original cost.171 words
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Article135 1977-05-05 5 Reuter MUNICH, Wed. Bayerlsche Motorenwerke (BMW) said it will ask shareholder permission to raise basic capital to 396 million marks from 330 million by issuing 66 million marks of new 50mark shares at par in the ratio of one for five. It also proposes a It-markReuter - 135 words
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197 1977-05-05 5 Reuter DALLAS, Wed. LTV said its loss for the first quarter was primarily the result of severe winter weather. LTV said the unusual winter weather conditions affected its steel operations in January and February. March was a profitable month, although not enough to offsetReuter - 197 words
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Article144 1977-05-05 5 Reuter PHOENIX. Arizona, Wed. Greyhound yesterday blamed losses from Its bus division for a 35 per cent drop In first quarter profit. Greyhound said its first quarter earnings totalled US$9 million, or 20 cents a share, down from $13.8 million, or 32 cents a share, in the year-agoReuter - 144 words
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159 1977-05-05 5 Reuter BRUSSELS, Wed. The beginning of supplies of gas from Ekofisk In the North Sea, together with Increased oil production, will bring a noticeable profit rise In 1977, Petroflna said In its annual report. The report says supplies of gas to four European countriesReuter - 159 words
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Article108 1977-05-05 5 Reuter NEW YORK, Wed. City Investing said its City Petroleum unit agreed to farm out its interest in the Buchan Field in the British North Sea to BP Petroleum Development, a unit of British Petroleum. Under the proposed arrangement. BP will spend funds necessary to develop theReuter - 108 words
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Article47 1977-05-05 5 HONGKONG. Wed. The first meeting of the working party on unification of the four Hongkong stockexchanges will be held on Sat May 7, at the request of the exchanges, the government announced. The initial meeting will be chaired by Commissioner for Securities Mr. James Selwyn.47 words
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360 1977-05-05 5 Reuter SAN FRANCISCO, Wed. The chairman of Merrill Lynch, the world's biggest stock brokerage house, said yesterday the stock market could well be bullish for the rest of the 1970s and possibly beyond. But chairman Mr. Donald Regan cautioned shareholders at Merrill Lynch's annual meetingReuter - 360 words
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162 1977-05-05 5 Reuter WILMINGTON, Del, Wed. R.J. Reynolds Industries said it will be difficult to show Improvement over last year's second quarter when it reported USS2.O2 per share earnings. However, chairman Mr. Colin Stokes told the annual shareholder meeting he expects 1977 will be a year ofReuter - 162 words
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317 1977-05-05 5 Reuter PITTSBURGH. Wed. US Steel's second quarter earnings will be at least above the first quarter level of 33 US cents a share, executive vice president Mr. W. Bruce Thomas told Reuter after a press conference. He said It is too early to tell whetherReuter - 317 words
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Article579 1977-05-05 5 FT TOKYO, Wed. Sapporo Breweries, the Japanese company which Imports and sells Guinness In Japan, is embarking on a substantial advertising campaign on behalf of Guinness for the first time in ten years. A large two-thirds of a page advertisement appearing in a recent edition of NihonFT - 579 words
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Page 5 Advertisements
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Advertisement557 1977-05-05 5 ASIAN SEMINARS LIMITED CONFERENCE PROGRAMME Following our successful 1976 International taxation and Investment conference we are pleased to present, In association with the University of Hong Kong, a further two International conferences. INTERNATIONAL TAXATION ESTATE PLANNING CONFERENCE Hong Kong 23-25 MAY 1977 This conference Is presented for businessmen and professional557 words
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Article2152 1977-05-05 6 1977 Gr'» Gr'a Net Low Compaay Laat div Div y'ld P/E Vol Day High Sale +or- c'vr C900) High Low SECTION ONE INDUSTRIALS 146 136 Acma 142 1 12.ON 1.1 8.4 7.1 5 142 141 133 127 Acma A 129 unch 12.0N 1.1 9.3 6.5 2 1292,152 words
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Article1314 1977-05-05 6 BID and offer prices officially listed and business In and reported to the Stock Exchange SffiraMS'KSMXiK In brackets In lots of 1000 units juiless otherwise specified. All Time Settlement Contracts are quoted after the word "Sett Big Board deals (In lots of 5.000 units) are quoted after1,314 words
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Article1233 1977-05-05 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 Aam a < 1.428 1 468) AJtnamata (2.008). XD Alaam «(1.908).1,233 words
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Article146 1977-05-05 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Managers' prices for May S) (Currmt price INCOME BOND .105 1.11 The Commerce ...1.73 1.83 The Savtnf Fund O.N 0 83 S pore Pro« Fund 0 80 0 85 S'pore Security *Wd 1.44 1.52 S'pore Invert Fund 0.98 105 MARA BUMIPUTRA FUND146 words
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Article160 1977-05-05 6 B O T 8.1/2% 1981 (100,000) 103*8) D B 8 8 1/2% 1982 (100.000) (1008 100*8) DBS Coavert* 6 1/2% 1991 (100,000) (97*8 988) E I B 9% 1982 (100,000) (103HB 104*8) E I B 8 1/4% 1988 (100,000) (100HB 101 *8) I B J 8 1/2%160 words
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Article100 1977-05-05 6 5 1/2* 1/4/78 (250,000) (101.458 101.555) 5 1/2% 15/4/78 (250.000) (101.358 101.635) 5 1/4* 15/7/78 (250.000) (101.458 101.555) 4 3/4* 1/5/79 (250,000) (100.708 100.78S) 7* 1/7/79 250.000) (104.658) 5 1/4* 15/10/7* (250.000) (101.608 101.755) 6 3/4* 15/6/80 (250.000) (103.30B) 6 3/4* 1/12/80 (250.000) (103.30B) 5* T F 15/4/81100 words
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Page 6 Advertisements
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Advertisement137 1977-05-05 6 Penguins in Business and Management Understanding Company Financial Statements: J. Parker Organization Theory: D. Pugh Business Strategy: H. Ansoff Corporate Strategy: H. Ansoff Exploration in Management: W. Brown Modern Management Methods: E. Dale Offensive Marketing: J. Davidson Business of Management: R. Falk Modern Business Enterprise: M. Gilbert Corporation Man: A.137 words
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Article520 1977-05-05 7 SECOND and third linen had a field day at the Stock Exchange of Singapore yea* terday. So hectic wai the pace of trading that the day's volume was also considerably increased. Central Sugars, the main bullish feature for the last three weeks, and ben proved to be520 words
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Article96 1977-05-05 7 STRIKING price* of the stock options officially listed on the Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday, with the number of options traded shown in brackets. C AndC (June $1.90) (0.05B) DBS (June $3.90) (0.048 0.055) (4) 0.04. 0.04*4 (1) 096 words
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Article463 1977-05-05 7 STRONG speculative buying pushed values substantially higher on the Kual Lumpur stock market yesterday. The run-up was sustained throughout the day and took the volatile Malaysian Business Times index up by a sharp 12.01 points to 211.09. Trading was also exceptionally heavy and lifted the463 words
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WALL STREET AND OTHER OVERSEAS MARKETS
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Article1104 1977-05-05 7 NEW YORK: Cautious buying in blue chips and glamours helped stock prfces post another modest gain on Tuesday as traders responded favourably to the Federal Reserve Board's move to control Inflation. Trading was active. Chairman Arthur Burns told Congress the FED had tightened somewhat Its growth targets for1,104 words
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Article486 1977-05-05 7 TOKYO: Share prices edged up In moderate trading ahead of the outcome of the London «conomlc summit, dealers said on Wednesday. The Dow Jones average rose 8 97 to 5.141.86 with volume 220 million shares. The New index was 383.87. up 0.70. Pharmaceuticals advanced on reported authorisation of a486 words
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Article169 1977-05-05 7 MANILA: The market opened generally firmer and held Its higher levels to the close on Wednesday, with Investor Interest shifting to minings and oils, dealers said. Commercial and Industrial issues declined in quieter trading Gainers included Atlas Con B, Meralco and PUIh A, while Atlas Con A was lower169 words
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Article367 1977-05-05 7 FRANKFURT: Shares closed mixed with a lower bias market sources said on Tuesday. Activity centred on VW which gained 3 80 marks. Other auto shares were generally firm. Except for BMW which lost two. Leading chemicals aud electrlcals were steady, whereas banks rose up to I SO, led by367 words
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Article323 1977-05-05 7 AMSTERDAM: Most Dutch Internationals except Ahao and Philip* lost some ground in an otherwise firmer market, dealers said on Tuesday. IHC led gains, although It expressed uncertainty on future prospects. Other major advances were Gist, Pakhood and Amfai. Main declines against the trend were VMF and Bijaafcorf. VMF fell323 words
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Article297 1977-05-05 7 ZURICH: The market closed mixed with a slightly easier bias with Kreditanatalt continuing Its recent downdrlft, dealers said. Bankgeaellachaft also lost ground despite the rise of Its balance sheet total. In otherwise little-changed ftnanclals. Bally registered, and Elaktro-Watt met some demand. I nterfood closed unchanged after saying It expects297 words
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Article158 1977-05-05 7 BRUSSELS: The market was quietly mixed In thin trading, dealers said on Tuesday. SoAna, Clabeeq and electrical shares rose, while VMllo MonFN, Cocksrill and Mosaae De Boers was firm In otherwise lower UK Issues French stocks were firm, US Issues mostly higher, and gold mines drew strength from the158 words
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Article157 1977-05-05 7 MILAN: The market closed generally higher In fairly active trading, mainly on technical factors, dealers said on Tuesday. Most industrial and flnanclals leaders gained Fiat, Montedison, both Pirellis and Olivettis, Bastogi and Asiicurazioai General! firmed. Anic and Generale Immobiiiare both eased however, as did Italgaa and 9tet. Bonds showed157 words
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Article286 1977-05-05 7 TORONTO: The market ended to close only fractionally higher In light trading on Tuesday. Trisec fell 1-1/2 to 11-1/2, Cominco lost one to 35 and Calgary Power preferred also eased one to 112. Banister Continental declined 7/8 to 12-1/8. Inco A slipped 5/8 to 29-V8 and Noranda A dipped286 words
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Article411 1977-05-05 7 HONOKONO: The market closed higher In moderate trading after recent weakness, dealers said on Wednesday The Hang Sena Index rose 2.06 to close at 442 02 JardinM Math—aa and Hoafkona Dock each gained HK$3O cents to $17.20 and $11.30 and Swire Pacific five cents to $9.05. Hoagkoag Laad, Hutchisoa411 words
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Article361 1977-05-05 7 PARIS: The market was higher on Tuesday, on balance, extending Monday's technical rectlon to Friday's record low and encouraged by the stronger tone on Wall Street, dealers said. Banks, hotels and electrlcals gained ground while foods, stores, engineerings and oils were mixed. Investments, protofollos. motors and constructions eased. US361 words
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Article367 1977-05-05 7 JOHANNESBURG: Gold shares continued firm throughout the day In line with overseas bullion Indications, although trade remained comparatively quiet, dealers said on Tuesday. Financial minings followed producers, with Anglos five cents hlghfer at 380. In diamonds, De Beers gained 14 cents to 432 and Anamint 100 cents to 4367 words
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Article484 1977-05-05 7 SYDNEY: The market was firm, aided by renewed Interest by small Investors, on expectations of lower Interest rates and ahead of the Fox report, due later this month, dealers said on Wednesday. The Sydney All-Or-dinarles index rose 4.67 to close at 445.87 points Uranium stocks were keenly sought with484 words
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Article95 1977-05-05 7 MAY M Bahts Asia Fibre 1M -1 Bangkok Bank 285 ♦2 Bangkok Invest. 182 -1 Bangkok-Metro-politan Bank Bata 427 ♦4 Berll Jucker 235 ♦4 Charoong Thai 166 Wire Dumex DusltThanl Faber Merlin First Trust Indo-Thal Industrial Finance Corp 1135 J And J Ho 220 -5 Jalaprathan 123 Cement -495 words
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Article65 1977-05-05 7 FINANCIAL TIME9 INDUSTRIAL Tuesday 428.0 Monday 430.7 Week ago 421.0 DOW JONES AVERAGE INDUSTRIALS Tuesday 934 19 Monday 931.22 Week ago 915.62 LONDON DOLLAR PREMIUM Tuesday 121"«to 122 Monday 121 to 121V* H.K. HANG SENG Tuesday 439 96 Monday 440 23 Week ago 442.75 SYDNEY INDUSTRIALS Tuesday 355.94 Monday65 words
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Page 7 Advertisements
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Advertisement359 1977-05-05 7 f- Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the pasar malam! Because Penguin books are rather Jr SP® o 3 They are mind-stimulating, deeply researched, ft 'Ifl enterta n i n 9 n 3 wholesome way,359 words
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COMMODITY REPORTS AND PRICES
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Article871 1977-05-05 8 OPENING quotations In the Singapore rubber market yesterday were marked down In line with easier London advices. Prices fell further on speculative liquidations, dealers said. A mild rally developed towards noon on some forward buying, notably July/ Sept and Oct/ Dec 1977, but resumed selling871 words
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Article30 1977-05-05 8 Rubber: May 4 Singapore: May 192.50 cU (dowa 1.50 eta) Malaysia: May 194.25 eU (down 2.00 eta) Tin: $1,468 (up $18) Official offering: 343 tonnes (up 113 tonnes)30 words
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Article296 1977-05-05 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk $105 sellers,-bid drum SI 10 sellers, new drum SI 15 sellers. Copra: Mixed (loose) UK/Cont. $70 buyers. Pepper: Muntok ASTA white f o b. 100% NLW $397 sellers. Sarawak white f o b. 96% NLW296 words
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Article106 1977-05-05 8 May June R.A.S. «>« mat Mth) (Forward Mlkl Buyei n Seller* Buy« ra Seller* <e« nuperkf) (ceau per kg) SSR20 (1 ton Pallet) 192 50 193.SON 193 SO 194.MN SSR50 (1 ton Pallet) 190.50 191.SON 191.30 192.SON M.R.E.L.B. SMR5CV (1 ton Pallet) 217.50 219.50N 219 50 221106 words
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Article176 1977-05-05 8 THE Straits tin price in Penang yesterday was up $18 to $1,468 on an official offering up 113 tonnes (from last Friday) to 343 tonnes. In LONDON yesterday,i tin moved further ahead by £35 all round in both con-t tracts with Three Months standard trading finally at' £5,900.176 words
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Article122 1977-05-05 8 THE following p tlm oil prices were quoted In London on Tuesday. The prices areclf Rotterdam an ire quoted In US dollar per ton unless otherwise stated IlMiuiy Malaysia 5% ffa bulk rm. May/Jly 675 sir 665 sir Sumatra 5% Apl unch 665 pd May unch 670N June122 words
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Article348 1977-05-05 8 IN the Singapore gold market yesterday, the kilobar was traded In the range of 8111,720 to $11,760. The loco London gold opened at U*****.00/ 147.40 and was bidded up to closed at $147.40/ 147.80. The London morning fix was U*****.60 down 65 cents from the previous fix. Satire*: Siagmas.348 words
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Article168 1977-05-05 8 LONDON, Wed. Silver finished 1.1, pence per troy ounce higher to unchanged. Pre-market values were subdued by the overnight decline at New York and the Lower gold fix, dealers said. But prices steadied In the ring in sympathy with the later trend in gold with Three Months traded upto168 words
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Article95 1977-05-05 8 LONDON, Wed. Lead rose by £3.00 per tonne for Cash and £2.00 for Three Months in the morning. Values dipped on the premarket with Three Months traded down to £402 per tonne Short-covering soon developed at the lower levels and the market rallied to £415 In the ring before95 words
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Article95 1977-05-05 8 LONDON, Wed. Zinc gained £1.50 per tonne for Cash and £0.50 for Three Months. The market was basically stready aided by reports of moderate physical demand on the continent together with the recovering trend in lead, dealers said. Three Months traded upto £402 in the ring but profit-taking cut95 words
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Article265 1977-05-05 8 LONDON, Wed. Copper wire bars finished the morning with minor losses of £1.50 per tonne for Cash and £1 for Three Months. Values softened on the E re-market where Three [onths traded down to £827 per tonne in sympathy with the overnight movement In US futures. Some trade support265 words
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Article214 1977-05-05 8 LONDON, Wed. Terminal in the morning opened steady, £0.15 to £0.55 below yesterday afternoon levels. Sales totalled 526 lots. Market sources said early business around last night's lower closing kerb levels attracted mixed buying and short-covering which saw the Oct position trade from £137.75 up to £139 before the214 words
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Article216 1977-05-05 8 BANGKOK, Wed. Indicative prices for rice quoted are: (US dollirs per tonne tob basis Bangkok While Rice: 100 per cent Ist class 284 100 per cent 2nd 287 100 per cent 3rd 262 5 per cent 252 10 per cent 232 15 per cent 229 20 per cent 226216 words
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Article362 1977-05-05 8 LONDON, Wed. Terminal opened Irregular In the morning at £20 higher to £5 lower In sales of 533 lots. Dealers said the trend reflected opposing Influences of a lower New York close and news that private Colombian exporters had suspended sales. This prompted some covering In the nears and362 words
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Article127 1977-05-05 8 CHICAGO. Wed Soybean futures moved back over the $10.00 a bushel level yesterday as the May contracts closed at $10.30 on a limit advance of 45 cents. The July finished with a 44y» cent gain, at $10.27*4 and August was up 42 V* cents to $10.00. September closed 27127 words
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Article103 1977-05-05 8 CHICAGO. Wed. Wheat futures yesterday dropped to new seasonal lows In all contracts before reducing losses to 3V4 to 4% cents a bushel at the close. Despite the supporting influence of a sharply higher opening in soybean futures, prices eased under the influence of declines in other wheat futures103 words
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Article58 1977-05-05 8 THE Malaysian Minister of Finance has fixed these duties from May 5 until further notice: Rubber 89% cts a lb Copra $1,136 a ton Palm Kernal The rates of duties payable are: Rubber 10 cts a lb Surcharge 4=V« cts a ih (Total 15'< i cts a lb)58 words
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MONEY AND EXCHANGES
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Article533 1977-05-05 8 THE US dollar fell by about one yen against the Japanese currency in Singapore yesterday following tne reopening of the Tokyo foreign exchange market. From the opening of 278.35/45 in Tokyo the dollar eased after the lunch hour in Tokyo following heavy demand for the yen. The London opening533 words
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Article170 1977-05-05 8 Asian rates ASIAN currency deposit Interbank rates u at close on May 4 US Dalit, re (Spat) Offer BU 7 days 5 5/16 5 3/16 1 mth 5 1/8 5 2 mths 5 vie 5 3/16 3 mths 5 7/16 5 5/16 8 mths 5 11/16 5 9/16 9 mths170 words
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Article44 1977-05-05 8 RANGE of price* offered by discount houses on May 4 Overnight 3S Calf deposit 3% CUatec Bay Mtt>| 3-month Treasury Mils 3 n 3-Month Bank bills 4 1/16 3i vie 3-Month CD 4H 4% 8-Month CD 4H 4H Source: National Discount Co. Ltd.44 words
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Article98 1977-05-05 8 Euro rates LONDON, Wed Period Eurodollar deposit rates opened lower reflecting the Friday dealing technically and have eased around Vfc point since. The decline was partly attributed to a technical reaction to yesterday's firmness and partly In response to fresh offering, dealers said. Trading was moderate. Short dates eased In98 words
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Article52 1977-05-05 8 THE Monetary Authority of Singapore (MAS) Invites banks and discount houses to tender for: (a) $20 million 91-day Treasury Bills to be Issued from May 9 to May 13. (b) $10 million 182-day Treasury Bills to be Issued on May 9. Each tender must not be less52 words
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Article201 1977-05-05 8 LONDON, Wed. The dollar drifted down from the highs In Europe and the US touched yesterday, with currency trading dominated again by market caution over the approaching London economic summit, dealers said. Market speculation Is growing that Japan and Germany will concede appreciations of their currencies as part of201 words
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Article190 1977-05-05 8 NEW YORK, Wed. The dollar closed higher yesterday, against major currencies as buying Interest was spurred by an upward move In some money market rates end also testimony by Federal Reserve Board chairman Arthur Burns before the Senate Banking Committee. Dealers said following the Burns' testimony, hectic buying190 words
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Article169 1977-05-05 8 TOKYO, Wed The dollar for overnight delivery closed lower In fairly active trading at 277 20 yen after opening at 278.35 and compared with 278.25 at Monday's close, dealers said. After opening higher on import covering to meet dollar demand for the national holiday tomorrow, the US unit fell169 words
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Article135 1977-05-05 8 HONGKONG, Wed. The US dollar firmed further against the Hongkong dollar on Interest rate considerations and commercial demand reaching a late HK54.6690/10 compared with yesterday's late $4.6660/80, dealers said. The US unit rose to $4.6720/30 at one stage In active trading but eased on profit-taking later. The yen strengthened135 words
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Article60 1977-05-05 8 Minimum lending rates (in ACBC 8* Algemene Bank 6% Bangkok Bank 7 First Chicago 6*4 Citibank HSBC 7 Bank of America 6V« Bank of China 7 Bank of Tokyo Bank Negara Indonesia 7 Indosuez Malayan Banking 6 J Mitsui Bank 6\ OCBC 6*4 OUB 6 j 4 Chartered Bank 6%.60 words
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Article51 1977-05-05 8 AUSTRALIA/NZ exchanges quoted on May 4 Australia: Sterling 0.6451/ 0.6381 US dollar 1.1056/ 1.1008 Ninety-day air mall buying rates: Sterling 0.6633 US dollars 1.1306 Ninety-day forward buying rates: Sterling 0.6429 US dollars 1.0939 New Zealand: Sterling 0.5594/ 0.5563 US dollar 0.9666/ 0.9566 Ninetyday forward rate: Sterling 0.5777 US dollar51 words
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Article40 1977-05-05 8 ZURICH exchanges closing quotes on May 3 US 2.5290-5297 UK 4.3490-3540 Can 2.4185-4210 W Germ 107.02-12 Neth 102.90-103.00 France 51.00-51.10 Belg 7.00-01 Denm 42.22-32 Norw 47.80-90 Swed 58.22-32 Italy 0.2837-2843 Austria 15.05-07 Port 6.53-54-'/i Spain Arg 0.70-85 Japan 0.9060-908540 words
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Article32 1977-05-05 8 FRANKFURT exchanges opening quotes on May 4 US 2.3608/18 Can 2.2535/55 UK 4.052/062 Neth 96.140/225 Swltz 93.30/40 Italy 2.658/688 France 47.65/75 Norw 44.81/88 Belg com 6.535/545 Belg fin 5.52/53 Japan 0.8510/25.32 words
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Article309 1977-05-05 8 LONDON, Wed. Dollar bonds were largely unchanged In light activity, dealers said. Convertibles were fractionally firmer where changed in quiet trading. Eurobond prices quoted on May 4 Straight* 1 BhJ Offer Austria 8*. 90 100% 101% Bell Canada SK 88 99* 99% BFCE8%83 101% 102* Brazil 9* 84309 words
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Page 8 Advertisements
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Advertisement191 1977-05-05 8 TOP ©EXECUTIVE SUCCESS how to achieve it...how to hold it...TODAY... •-V,» wsm •>/- "7 y.° I vl. ,Aac\ay ■V. ...is for YOU the younger executive This forceful, fast-reading new Guide exposes the I dynamic strategies seldom openly discussed and almost unknown to the younger man who needs them most. project191 words
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TRANSPORT AND COMMUNICATIONS
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Article, Illustration562 1977-05-05 9 MICHAEL CONNORS - By MICHAEL CONNORS A REVOLUTION In StraitsAustralia cargo shipping is on the way. In the words of Mr. Goh Chok Tong, Neptune Orient Lines' managing director: "Shipping service will be transformed." Mr. Goh was speaking In an interview with Business562 words
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Article206 1977-05-05 9 ALP AC Line is baaed in Hongkong and operate* a regular monthly sailing from the Far East to South Africa. Its vessels are mainly conventional type but it can offer a containerised service as and when the need arises. Its agents in Singapore are Intrasea. Alpac Line's regular206 words
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Article72 1977-05-05 9 AP. RIO DE JANEIRO, Wed. Brazilians may be able to switch their car fuel from Detrol to sugar cane alcohol if officials with the avia tlon technical Institute realise their hopes. Officials with the institute, located In Campos, Sao Paulo State, say they have developed equipmentAP. - 72 words
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312 1977-05-05 9 SEASPEED ASIA arrives in Singapore today on her maiden voyage. The addition of this roll on/roll off (ro-ro) ship to Singapore's first regular ro-ro service Inaugurated last month, with the sailing of the Seaspeed Arabia, should Increase the efficiency oMhls service. Mr. Tony Goh,312 words
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Article521 1977-05-05 9 LONDON, WednegiUy FT THE North Sea helicopter dispute looked like a twoday wonder when It began early In April. It Is now In Its third week, and has all .the makings of a long and bitter union recognition battle that could go far wider thanFT - 521 words
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Article, Illustration417 1977-05-05 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Blue Osaka (JMBC) (Car Carrier) (1300*29/30 Bunga Bindang (1500 after Sun Flower) 18 Cherry Vllja (B. Barge) (0900 tbc) 42/43 Chusei Maru (JBUE) (Car Carrier) (0730) (tide) 19 Fujltsukl (JHNY) (Tanker) (after Palm Sea Horse sails) (Subject gas free) (P/O) 13/14 Hong Leong417 words
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Article, Illustration204 1977-05-05 9 A LIMITED aerie* of special anniversary car, the Volvo 264 Jubilee Car. has been introduced by Volvo to mark the 50th anniversary of the production of the first Volvo in Sweden in 1927. It will be open house at the Volvo showroom here204 words
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Article147 1977-05-05 9 BEN LINE has purchased "Neptune Fisher", a 183TEU, 13.5 knot containershlp for service in Far Eastern waters. Previously owned by British shipowner, Mr. James Fisher, it had been operating recently on charter to Neptune Orient Lines. Ben took delivery of this self-sustaining vessel at the147 words
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Article99 1977-05-05 9 FOUR Air New Zealand executives from the airline's Singapore office will fly to Hongkong next week to attend the carrier's regional marketing and sales seminar to be held at the Hongkong Hilton from May 10 to 13. They are Mr. Richard Qates, district manager for South99 words
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Article28 1977-05-05 9 AP TOKYO, Wed. A 2,200kllometer railway is under construction to link Tibet with neighbouring Chinghal province In China, a Japanese report from Peking said yesterday.AP - 28 words
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Article609 1977-05-05 9 ARRIVALS v falkw Opwatar Nnka Local TW Fro. OA CPA MAS PAA CPA OA472 CX003 MHM2 PA847 CX710 0006 8YD/MEL 0145 HKO 0610 KCH 0630 SFO/HNL/OUM 1000 HLP SIA QIA OIA PAL SIA SQ211 OA90O OA0O8 PR501 SQ240 1015 HLP 1030 HLP 1100 MES 1115 MNL 1140609 words
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Advertisement159 1977-05-05 9 Keep in touch with business developments in Singapore wherever you are in the world t 1 Subscribe now to Business Times BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) Surface mail Zone Singapore Malaysia, Brunei Overseas Second class airmail (Individually wrapped and mailed) Zone Brunei, Sarawak. Sabah Australasia/Pacific159 words
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Article, Illustration822 1977-05-05 10 COLIN CHEE - Boosting Singapore's image as a convention centre... By COLIN CHEE SINGAPORE has begun to take on the Image of an international convention and exhibition centre, a natural extension of its efforts to promote itself as a tourist spot, and as a business and financial centre of the world.822 words
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Article, Illustration1068 1977-05-05 10 JEREMY BUGLER - BRITAIN'S experiment in planning new towns has been too successful. It is draining the very life-blood out of the big cities, in the form of their best workers. To save the cities, the British Government has decided to stop the new towns growingFT - 1,068 words
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Article, Illustration716 1977-05-05 10 AMERICAN FAMILY COMPANIES NEW YORK, Wednesday The Economist SO LITTLE Is the stock market enamoured of the personal holding companies of America's richest families that many are rated at a big discount to underlying net asset values. Hence moves to restructure some of these Investments. For much ofThe Economist - 716 words
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1058 1977-05-05 10 QUEK PECK LIM - By QUEK PECK LIM SINGAPORE demands a fairly high standard of corporate disclosure under Its Companies Act and most of the Information is readily available for those who look for it. Here is a brief guide to how it can be got at1,058 words
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Page 10 Advertisements
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Advertisement196 1977-05-05 10 QOLLECTINQ Oriental Antknej by Judith Moorhouse and Dries Blitz 1 V >3B I At O t G3 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 the196 words
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534 1977-05-05 11 Reuter BANGKOK, Wed. The Thai rubber export trade will not be affected seriously by the decision of the Par Eastern freight Conference (FEFC) to Increase general freight rates by 12.5 per cent from July, trade sources said. They said the increase applies to rubberReuter - 534 words
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214 1977-05-05 11 UPI TOKYO, Wed. Vietnam has agreed to open its airSorts to charter flights by apan Airlines, Tokyo newspapers said today in dispatches from Hongkong. They quoted Mr. Yoichi Nomura, manager of JAL's regional office in Hongkong as saying that a JAL technical mission wouldUPI - 214 words
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118 1977-05-05 11 THE Singapore Institute of Standards and Industrial Research (SISIR) has finalised a draft Code of Practice for Building Drawing. This has now been released for public comments. The purpose of the code is to standardise architectural and building drawings in order to avoid confusion, increase118 words
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Article101 1977-05-05 11 REPRESENTATIVES from the littoral states of the Straits of Malacca and Singapore will meet In Singapore this month to discuss procedures to be adopted In the tidal and current studies and common datum charts projects. Singapore, Malaysia and Indonesia, with the help of Japan, will be101 words
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Article156 1977-05-05 11 EXPORTS of sheet and crepe rubber from Singapore and peninsular Malaysia rose to 187,747 tonnes in January from 154,229 in December and 156,962 In January last year, Statistics Department figures show. According to the Reuter report, from Singapore the January exports (December in brackets), the UK156 words
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337 1977-05-05 11 THE Joint Media Committee (JMC) will have case by case Illustrations of Radio Television Singapore's "arbitrary rates" for advertisements screened during popular TV shows when It meets RTS for talks. "We feel we have a strong case," said Mr. Patrick Mowe, president337 words
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192 1977-05-05 11 TOKYO, Wed. Japan's export letters of credit received In April rose 12.3 per cent to US$4.5B billion (Sill billion) from $4.08 billion In April last year, the Finance Ministry said. The year-to-year rise was up from 8.8 per cent In March. The April192 words
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Article162 1977-05-05 11 UPI BANGKOK. Wed. More than 40 allegedly corrupt government officials, police and merchants have been arrested for smuggling along the Nambodlan border. Government sources said the crooked deals by the men may have involved arms deals with communist Cambodian troops Initial investigation indicates the> wereUPI - 162 words
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139 1977-05-05 11 Reuter BANGKOK, Wed. Thai military authorities have declared remote Jungle-clad mountain areas In six north-eastern provinces prohibited territory to villagers for the next six months, apparently as a prelude to strikes against communist guerilla hideouts, a military spokesman said today. Villagers living in the areasReuter - 139 words
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162 1977-05-05 11 UPI MANILA. Wed. The demand for Philippine abaca (hemp) on tne world market is likely to Increase this year. a Bank of America study published today said. Abaca prices are expected to improve but the bank warned these should not be allowed to riseUPI - 162 words
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286 1977-05-05 11 Reuter WASHINGTON, Wed. The Commodity Futures Trading Commission (CFTC) approved a staff proposal raising the levels under which large traders have to report their positions to the CFTC. The new level for wheat, corn and soybeans Is 500,000 bushels (176,196 hectolitres) compared with 200,000Reuter - 286 words
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Article224 1977-05-05 11 Reuter SEOUL, Wed. The South Korean Government today ordered the Seoul bureau of the Japanese national dally, Yomlurl Shim bun, to close down immediately because of an alleged statement by Its managing editor supporting North Korea. The Government also ordered Its correspondent, Mr. Kozo Klmura.Reuter - 224 words
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726 1977-05-05 11 FT CANTON, Wed. In th# steamy atmosphere of Canton, overheated Britons are rubbing shoulders with all the nations of the world from Sweden to Somalia In the palatial halls of the Chinese export commodities fair. Fair is the right word; up on theFT - 726 words
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Article107 1977-05-05 11 Reuter WASHINGTON, Wed. Light to moderate rains eased the moisture shortage over much of the winter wheat provinces of Shantung and northern Honan Jn the week ended May 1. US Agriculture Department's Weather Service reported. However, only traces of precipitation were recorded 'in Hopeh. Light to moderateReuter - 107 words
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200 1977-05-05 11 ATER making strong headway in the first few years, the "Green Revolution" in Asia has slowed down, according to an agricultural expert. Further expansion of facilities, such as the marketing system, should be carried out to give the revolution a boost, said Dr. Vernon Ruttan,200 words
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Article101 1977-05-05 11 THAKRAL Brothers (Pte) Ltd. yesterday filed two suits In the High Court against five Individuals for a total sum of $224,256.78. The first suit is against Ragl Kessler Herbert, trading as Red Leaf Enterprises, for $70,345.10 and the second is against Wong Poh Wee and three others,101 words
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163 1977-05-05 11 Reuter CANBERRA, Wei. The second aad final report of the Fox ln«nlry into uranium mining in Australia is being printed and should he released Inter this month, official sources said. The sources said the report, on specific aspects of uranium mining in the northern territory,Reuter - 163 words
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Article143 1977-05-05 11 SINGAPORE noodle makers have received enquiries from Japan and Taiwan on the possibility of importing our noodles. This, said Mr. Wong Boon Slew, president of the Singapore Kway Teow and Mee Manufacturers' Association, is one of the main reasons for their sending a 14-member team143 words
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Article141 1977-05-05 11 SARI Pacific, one of Jakarta's newest deluxe hotels, Is out to woo Europe. Armed with an audioVisual presentation and a stock of colourful brochures, Its general manager, Mr. Manfred Haeger, heads for the continent this month on his first major sales mission. The six-week141 words
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311 1977-05-05 11 Reuter WASHINGTON, Wed. Philippine coconut production In calendar 1977 Is forecast to decline to about 2.37 million tonnes compared with the record 2.6 million last year a US Agriculture Department field dispatch from Manila said. It projected 1977 copra exports at 500,000 tonnes againstReuter - 311 words
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Article280 1977-05-05 11 Reuter ZAMBOANGA CITY, (Philippines) Wed. Defence Secretary Juan Ponce En rile today attacked the rebel Muslim Moro National Liberation Front (MNLF) as an ambitious group of power-hungry men, but said he still hoped for a negotiated settlement to the rebellion in the Southern Philippines. HeReuter - 280 words
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Article167 1977-05-05 11 UPI TOKYO, Wed. The sevenman mission of North Korean officials visiting Japan on May 10-19 will be confined to negotiations on trade and fishery issues. Justice Minister Hajime Fukuda said today. He told newsmen that if the North Koreans engage in political activities, it would "closeUPI - 167 words
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Article173 1977-05-05 11 UPI SEOUL, Wed. North Korean troops fired on a South Korean army border patrol early yesterday killing one South Korean soldier and seriously wounding another, the United Nations Command (UNC) reported today,. A UNC spokesman, making the announcement, said his command is seeking a meeting ofUPI - 173 words
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Article144 1977-05-05 11 SEOUL, Wed. The South Korean Government's Economic Planning Board said its foreign capital screening committee approved a U5532.5 million (5579.9 million) eight per cent eight-year loan from Ekono Ol of Finland, with a three-year grace period, to finance construction of a pulp mill at the southern144 words
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Article75 1977-05-05 11 BUSINESS Times report on the proposed acquisition of Yat Yuen Hong Holdings by Internationa? Hotel Ltd yesterday stated that the International Plaza was one of the assets of YYHH. This is incorrect. Inter- national Plaza is owned by International Associated Ltd, a company closely associated with the Cheong75 words
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Advertisement208 1977-05-05 11 APPOINTMENTS A NEW CHALLENGING CAREER FOR A SENIOR SALES EXECUTIVE ISCM LTD is on internationally known US company which organises trade exhibitions and conventions around the world, including Singapore. We are looking for a dynamic senior sales executive (male/female) to join us in a new and interesting career selling exhibition208 words
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Advertisement169 1977-05-05 11 A MNET SINGAPORE PRINATE LIMITED Owing to our Company expansion we invite applications for the position of: GENERAL MANAGER Requirements: Minimum five years related experience wfth Broking or Insurance Companies Candidates who possess ACII qualification preferable Sound theoretical and practical knowledge of all branches of Insurance Ability to organise all169 words
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291 1977-05-05 12 UPI TOKYO, Wed. Braced for a round of criticism of Japan's trade and financial policies, Prime Minister Takeo Fukuda left today for the world economic affairs summit meeting In.London. The special Japan Airlines jet carrying Mr. Fukuda and his 51 man partyUPI - 291 words
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140 1977-05-05 12 Reuter BERNE, Wed. The Swiss cabinet said it will have to examine carefully whether current legal controls on banks suffice following the Sroblems encountered by wlss Credit Bank at Chiasso. It said in a statement to Parliament that it does not exclude a strengtheningReuter - 140 words
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194 1977-05-05 12 BAHRAIN'S Foreign Minister. Shaikh Mohamed bin Mubarak Al-Khallfa, leaves this afternoon after a four-day official visit during which he and his delegation met Mr Lee Kuan Yew, Foreign Minister Mr. S. Rajaratnam, Finance Minister Hon Sui Sen and several prominent Arab businessman here. Yesterday, a194 words
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Article100 1977-05-05 12 THE committee of the Stock Exchange of Singapore has started proceedings in London and Singapore to claim damages for alleged libel, contained in reports of a speech made by the Prime Minister, Mr. Lee Kuan Yew, at the annual dinner of the Law Society of Singapore on100 words
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Article76 1977-05-05 12 Reuter HONGKONG. Wed. Philippine Secretary of Industry Vicente Paterno attended a dinner given in his honour by Chinese Foreign Trade Minister Li Chiang and other officials in Peking last night, the New China News Agency reported. ,Mr. Paterno had talks with Mr. Li on Sino-Phllip-pine trade earlierReuter - 76 words
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442 1977-05-05 12 Reuter LONDON, Wed. Economic Models, a London-based consultancy organisation, said it expects that by the mid-1980s, There will be annual oil price Increases of at least as high as the IS per cent proposed by the majority of Opec members atReuter - 442 words
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Article, Illustration174 1977-05-05 12 THE vice chairman and chief executive of Lloyds Bank International. Mr. D.G. Mitchell (above), arrived here last night for a three-day visit. This is Mr Mitchell's second visit to Singapore. His first was in 1972, arising from which LBI made an application to open a branch174 words
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Article69 1977-05-05 12 THE Tally Clerks and Checkers' Union in Singapore^'opposes the practice of protectionism bv the West as this can eventually Jeopardise and dismantle the machinery of fraternity internationally. In a statement yesterday, the union said that "we In Singapore should boldly voice our opinion to those wrong69 words
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540 1977-05-05 12 UPI AP CAIRO. Wed. Some international oil cartel members may not go ahead with a five per cent price Increase planned for this summer, a source at a conference of Arab oil ministers said. The 13 nations of the Organisation of Petroleum Exporting Countries (Opec)UPI; AP - 540 words
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242 1977-05-05 12 CHANOI Airport Fuel Hydrant Installation (Cafhl), the private company formed to supply fuel and products to the aviation industry at Changi airport, has begun preparatory work on Its site. According to Cafhl's chairman, Mr. R.A.C. Berkeley, the land and hydrographic surveys have242 words
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Article165 1977-05-05 12 THE Port of Singapore Authority (PSA) seminar on PSA's billing collection was considered a success by both the seminar's participants and the PSA. "Both the PSA and participants were able to discuss and assess each other's problems with the PSA billing system," a spokesman said. The165 words
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1442 1977-05-05 12 LONDON: The Singapore Government's application to extradite Richard Tarling, former chairman of Haw Par Brothers International has arisen from a "highly prejudicial politically motivated situation," it was alleged In a London appeal court yesterday. The whole conduct and motivation of the move1,442 words
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246 1977-05-05 12 Reuter TOKYO, Wed. Nissei Kalun K&lsha said it Is filing for bankruptcy, with debts estimated at between 30 billion yen (***** million) 35 billion yen. A company spokesman, advisor to the business department Takashl Sueda, said a bankruptcy application, seeking a temporary freeze on assets, isReuter - 246 words
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Article299 1977-05-05 12 THE Singapore-Thailand Joint venture, Slng-Thal Grain, Is co-sponsoring ft fruit festival here to promote Thai fresh fruits In Singapore. Tnis is 'the first marketing venture of the $2.5 million company since the official agreement was signed between the two countries In Bangkok a week ago.299 words
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Article809 1977-05-05 12 LONDON Wed. The stock market closed generally higher In thin trading Sentiment was aided by a possible further minimum lending rate cut this week and the higher UK reserves, dealers said. Oovernment stocks gained around \/l to 5/8 point In longs with shorts occasionally fractionally harder, with small809 words
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Article110 1977-05-05 12 REACTION has generally been positive towards a proposal to license shipping agencies but some fear that this will increase shipping costs and reduce the degree of competitiveness in the industry. The proposal was made recently by the Applied Research Corporation which recommended to a group of local agencies110 words
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248 1977-05-05 12 THE Ratlin Mas by-el«ctioo will be a two-way affair after all. after a third independmt candidate was disqualified for not having his name in the electoral register of the constituency of nia residence. Following yesterdny's nominations at the Tiong Bahru Secondary School the two248 words
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Advertisement436 1977-05-05 12 CYCLE CARRIAGE LIMITED (INCORPORATED IN SINGAPORE) INTERIM REPORT TO SHAREHOLDERS FOR THE SIX MONTHS ENDED 31 ST MARCH 1977 The Board of Directors wish to onnounce thot the unaudited results of the Group and Holding Company for the half year ended 31st March 1977 ore as follows: Turnover: Malaysia Singapore436 words
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