The Business Times, 7 May 1977

Microfilm: NL9307
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 SATURDAY, MAY 7, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Straits tin down
      44 1 Reuter KUALA LUMPUR, Frl. The Btraits tin price in Penang fell Ms2s per plcul to $1,450, $125 above the International Tin Agreement ceiling, dealers said. The market eased following the downturn on the London Metal Exchange and profit-taking, they said. Reuter.
      Reuter  -  44 words
    • Article
      Five-cent hike
      31 1 MEMBERS of the two coffee shop owners' associations last night approved a five cent price hike for coffee and tea but prices of Ovaltine, Milo and Horlicks remain unchanged.
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    • Article
      Lock icon Golkar is assured
      67 1 Reuter JAKARTA, Frl. The military-backed Golkar movement has retained Its overall majority in Parliament with almost 87 per cent of the total votes counted in last Monday's general election, according to the National Elections Committee here today. Golkar has captured more than 38 million votes or 61.8
      Reuter  -  67 words
    • Article
      Lock icon London summit: All set
      65 1 Reuter LONDON, Fri. Leaders of the world's main non-communist industrial nations assembled in London today for an economic summit from which some of the pre-conference clouds seemed to be lifting. The two-days of discussions starting here tomorrow are expected to help remove some of the frostiness
      Reuter  -  65 words
    • Article
      Bankruptcy petition
      70 1 TENG Ah 800, 34, a house painter, who has served a four-month Jail sentence for criminally defaming Mr. Lee Kuan Yew is now facing a bankruptcy petition in the High Court. Yesterday, Mr. Justice Kulasekaran granted an application made on behalf of the Prime Minister for the motion
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    • Article
      Lock icon US jobless down to 7pc
      65 1 UPI WASHINGTON, Fri. The US unemployment rate declined to seven per cent in April, the lowest level since the early days of the recession 29 months ago, the Labour Department reported today. Unemployment fell by 0.3 percentage point from March and was a full two
      UPI  -  65 words
    • Article
      Lock icon Air controllers strike
      36 1 Reuter MELBOURNE. Fri. A strike by 900 air traffic controllers from midnight last night (1400 GMT) will paralyse Australian commercial airports for at least 48 hours, halting nil international and domestic flights. Reuter.
      Reuter  -  36 words
    • Article
      Lock icon Dow Jones
      85 1 UPI NEW YORK, Frl. Troubled by an expansion in the money supply, prices moved lower today in active trading of New York Stock Exchange issues. The Dow Jones industrial average, which gained 2.72 points yesterday, was off 7.98 points to 935.46 shortly before the first hour of trading.
      UPI  -  85 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      190 1 SHARE prices fell sharply in active trading at the Stock Exchange of Singapore yesterday as speculators reacted to the bullish run-up of the past two days and began selling shortly after the opening. The main losers were the third liner*, which bore the brunt of a combination
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    • Article
      In Kuala Lumpur
      108 1 Foils Most active C. Sugars 2.02 S .Steamship 2.75 -.18 IS General Lumber 755.000 Central Sugars Haw Par 855.000 135.000 G Lumber Sim Lim 0 81 0.74 -.07 Vt 06 Malayan Credit 123,000 Sime Darby Pan Elect. 3.24 06 Total Turnover: 2.73 M 1.00 05 Total Value:
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  • Article
    OUB romps home with $14m profit
    862 1  -  TWO SURPRISES TO CAP THE LEAP »y ARTHUR NG AS the last of the "big four" locally incorporated banks to release its 1976 results, Overseas Union Bank has more than lived up to market expectations by chalking up a 41.8 per cent rise in
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  • Article
    Workers' Party opening shot
    105 1 WORKERS' Party secretary-general, Mr. J.B. Jeyareinam, yesterday appealed to voters at Radin Mas constituency to vote for his party and put a dissenting voice Into Parliament. Speaking at an election rally at Telok Blangah Crescent yesterday evening, Mr. Jeyaretnam promised to carry all grievances to the
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  • Article
    Quotas reached, so no more exports
    873 1 SINGAPORE garment manufacturers have been told by the Trade ment that they are not,to export any more shirts and undervests for the rest of this year to four European countries which have traditionally been big buyers of such preducts. However, because of the hectic
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  • Article
    Lock icon Chiasso affair not a Swiss banking crisis
    275 1 Reuter ZURICH, Frl. Swiss National Bank president Fritz Leutwller said the problems of Credit Suisse at Chiasso do not constitute a Crisis for the Swiss banking system. Commenting at a press conference on demands in some political quarters for representatives of the Swiss
    Reuter  -  275 words
  • Article
    Jobless rate is no cause for worry
    125 1 AT a time when countries In most parts of the world are worried sick about growing unemployment. Singapore appears to be riding the storm quite easily. According to the latest monthly report Just released by the Department of Statistics, the Republic's unemployment rate
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  • Article
    Counsel says sorry in extradite hearing
    138 1 LONDON, Fri. Aa Appeal Judge in the High Court ken yesterday directed a Queen's Couaeel to withdraw hia criticism about tke Judiciary ia Singapore. This took place during the hearing of an appeal by Richard Tar ling, wanted by the Singapore Government on criminal
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  • Article
    Our lead yesterday
    96 1 IN yesterday's lead story In Business Times, under the heading "Western unions told: Live and let live", the first two paragraphs should have read: The Prime Minister, Mr. Lee Kuan Yew, yesterday reminded trade unionists In industrial countries that when they demand protection from Imports, they are
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  • Article
    Indonesia is host
    35 1 JAKARTA. Fri. Indonesia will host a ministerial meeting of Asean next month to discuss ways to promote closer cooperation among member countries In the field of social welfare, officials said here today.
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  • Article
    Metal Box strikers plan to sell shares
    400 1 METAL Box strikers are considering selling their 10,000 Metal Box shares. "We are considering selling the shares owned by some of us possibly through advertising," a few members of the Singapore Metal Box Workers' Union (SMBWU) told Business Times yesterday. They did not
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  • Article
    S'pore for Asian trade fair
    200 1 SINGAPORE and Malaysia will take part in the second Asian Trade Fair to be held in Melbourne from May 28 to June 5, it was learnt yesterday. They are among more than 20 countries and trade organisations which will take part in the fair sponsored
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  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      26 1 [^*{}~=]'+:=..;<],:'.~/$;{@},|{ SEE PAGE 10. Market Reviewa/TV Radio —P2 Tr Local Co Newt —P4 mi International Co News —P5 Fc_, Local Stocks -PI Loci Overseas Stocks —P7 N<
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    • Advertisement
      Page 1 Advertisements Column 2
      168 1 The Inside Story: Stand in a comer of a Hong Leong apartment and you'll see why you should plan to live in one the extra-large rooms and the generous windows that make it seem even larger. With sweeping views of the sea or of the city heart. Check the master
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    • Advertisement
      Page 1 Advertisements Column 3
      154 1 lIES SEE PAGE 12 FOR SALE MAJOR INDUSTRIAL PREMISES IN JURONG ■ma Suitable for a wide range of general and heavy industrial purposes. Accommodation comprises Administrative office block 1,384 sq. m. (2storeys) (14,9005q. ft.) Canteen and Laboratory 669 sq. m. (7,200 sq. ft.) Single storey manufacturing 11,026 sq. m. and
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  • MARKET REVIEWS
    • Article
      INDEX SHOOTS PAST THE '430'
      416 2  -  LONDON Sy IVAN FALLON THE London stock market broke out this week. Not in any wild sense of course, but It' at last managed to get through the 430 resistance level which had represented the top for so long and moved firmly into Its best
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    • Article
      Tin companies shell out
      512 2 THF.RE has been Intense excitement at the City offices of London Tin this week too, but for different reasons. Here, there has been rather more an atmosphere of siege as the unit trust groups delivered ultimata, demanded meetings and generally made a nuisance of themselves. By
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    • Article
      P and O flag is flying proudly in the wind
      358 2 BRITAIN'S proudest shipping ompany, P and O, has, like many other British Institutions been somewhat humbled In recent years. But the flag is still flying and this week, it waved In the wind with an extra degree of briskness as
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    • Article
      Lock icon High time to computerise
      264 2 AP LONDON, Fri. The owners of the Times of London said yesterday that unless printing unions relax their opposition to the introduction of cost-saving computer technology at the famous British newspaper, its future could be in doubt. The Thomson Organisation said in its annual report that
      AP  -  264 words
    • Article
      BULLY FOR SIME
      132 2 SIME Darby's full listing on the Kuala Lumpur Stock Exchange has ben iMrtktj with keen relief in London. Not that there are many Sime shareholders in London there are very few now. But keen Eastern watchers reckon it will speed up the process of Consolidated nutations going
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    • Article
      Company news for the week ended May 6
      381 2 f omplii fry KONALD UM < OTHER ANNOUNCEMENTS Bank of Tokyo (Curacao) Holding N.V. US$5O million 7 5/8 per cent Guaranteed Notes due 1984 will be granted listing and quotation on the Stock Exchange of Singapore on Monday. May 9, 1977, on
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    • Article
      Lock icon Fed's tighter money policy confirmed
      526 2 Reuter NEW YORK Frl. The latest Increase in money supply left little doubt among money market participants that the Federal Reserve Bank has undertaken a significant tightening in monetary policy, effects of which should soon spread throughout the Interest rate structure. Analysts said the US$l.7
      Reuter  -  526 words
    • Article
      NYSE approval for option market membership
      289 2 NEW YORK, Frl. The New York Stock Exchange said Its Committee on Access voted unanimously to recommend creation of a separate NYBE membership for options market making activities. The Committee acted after a joint meeting with the Exchange's Option Advisory Committee. The proposal for
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    • Article
      SINGAPORE
      539 2 BARGAIN hunters went on a buying spree at the Stock Exchange of Singapore this week and took prices sharply higher. Much of the buying activity, however, was concentrated In the second and third liners. At the height of the buying activity, values were raised by as much as ten
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    • Article
      KUALA LUMPUR
      666 2 MOST shares weathered some heavy selling at the Kuala Lumpur Stock Exchange on Friday to finish higher on balance this week. The selling activity concentrated in the third liners was sparked by the same factor responsible for the bullish run-up on Wednesday and Thursday the speculative element, which
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    • Article
      Lock icon Vote to make US govt sole importer of Opec oil
      436 2 AP UPI WASHINGTON,Fri. In a surprise move, the House of Representatives Government Operations Committee voted yesterday to strip U8 oil companies of their right to purchase foreign oil and to hand over this authority to the secretary of a proposed
      AP; UPI  -  436 words
    • Article
      Lock icon Cold bites deep into earnings
      223 2 AP NEW YORK, Frl. Last winter's severe weather In the United States took Its toll of corporate profits, a Business Week survey Indicates. The survey of profits of 885 major US corporations, released yesterday, said Inflation also Influenced corporate earnings performance. The magazine said Inventory
      AP  -  223 words
    • Article
      Lock icon Probe into Bally stake
      71 2 Reuter ZURICH. Fri. Bwlm NatteuJ Bufc nMmU Mr. Frits L—twil— mU tlw Caatra! Buk rwmUy pwmi to tht Lagal Dtput■•■t of the Flatae* MMiiij fllM*Mry tanHjitln toto SyadUkato Ac, vlieh ira Jnrttj •tain la C.F. Bally. Mr. LMtwihr told prw mlrhn th* iafdry it eoßuetod with
      Reuter  -  71 words
    • Article
      SYDNEY
      491 2 Haw Par also came in for some market reappraisal with support up to $1.02 Yesterday the share was sold down to 97 Vi cents. Together these four shares accounted for more than 5.5 million shares In turnover, with General Lumber taking the lead with 1.85 million units changing hands
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  • Page 2 Advertisements
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      315 2 RADIO TV SINGAPORE 5 1.05 P.M. Opening Announcements followed by Sesame Street 1.55 Saturday Matinee Harlow Starring: Carol Lynley, Efrem Zimbalist Jr., Barry Sullivan, Ginger Rogers 3.40 Soccer Malaysia Cup '77 (Prelimary Round) Malacca vs Singapore (English) 4.40 The Beverly Hillbillies Courtship (r) 5.05 Sandiwara A Malay Drama entitled "Dua
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      1 2 BristewP^jco
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    • Miscellaneous
      Page 2 Miscellaneous Column 3
      52 2 THE WEATHER WEATHER report for 24 hour* prior to 7.30 p.m. on May 6 at Singapore airport. Maximum Temperature 31.0° C Associated Humidity 61 Minimum Temperature 24.5° C Associated Humidity 99 Hours of Sunshine 3.05 Rainfall in Millimetres Nil Total Rainfall for the Month 3.0 Total Rainy Days for the
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  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      187 3 k begins a new era vo/PER THORNYCROFT Pte. Limited in Tanjong Rhu, wellknown as the builder off sophisticated patrol crafft, is proud to announce that the company's name is now changed to vo/per Private Ltd. The Company's history can be traced back ffor 55 years. The yard was first established
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  • Article
    DIVIDENDS ANNOUNCED
    621 4 Current payment Ex Data Date payable Total far the year Total far previoa* year Gen ting Highland* Com. PluUtkni Central Sugar* Aokam Tin Malayan Tin Sthn. Malayan Tin D.B.S. Dunlop EaUtca King'* Hotel Malayan Cable* S. Steamahip Essoord E**o Pref. Perli* Plant Kuchai Sel. Properties National Iron Dunlop
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  • Article
    Shell to appeal CIC decision
    679 4 THE Malaysian Capital Issues Committee has allowed Shell Refining to capitalise M 54.08 million out or a surplus of $10.87 million from a revaluation of the company's land and buildings. This, complains chairman Mr. H.J. de Rulter In his 1970 annual report, Is "substantially lower
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  • Article
    Impressive showing by Boustead Holdings
    512 4 THE new Boustead Holdings group, which was formed to hold the Malaysian-based activities of the erstwhile Boustead group, has reported an Impressive performance In Its first fun year of operations. After a good start, which saw the group chalking up a rise of 14 per
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  • COMPANY MEETINGS
  • Article
    PEOPLE IN BUSINESS
    69 4 BOUSTEAD Holdings Berhad has announced the appointment of Y.B. Tan Sri Abu Bakar Samad bin Mohd. Noor as a director of the company with effect from May 4. Mr Alaadair I Bennett has taken charge of the exports department In the Chartered Bank's main office In Battery
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  • Article
    BANK OF TOKYO LISTING
    51 4 THE Bank of Tokyo US$5O million 7H per eent guaranteed notes (1984) will be quoted on the Stock Exchange of Singapore on Monday, May 9. All dealings will be on a ready basis and quotation will be expressed as a percentage of principal value, excluding accrued
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  • Article
    Dunlop (M) Industries plans M$10m project
    163 4 DUNLOP Malaysian Industries is to embark on a major earthmover tyre project expansion, which will cost about MS 10 million. Mr. J.R. Scott, director of Dunlop Overseas Operations, says in a statement that the investment will make the Malaysian company a major source of
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  • Article
    LATEST RESULTS
    91 4 GUINNESS MALAYSIA BHD: Unaudited group pre-tax profit M 58.45 million ($0.37 million) on sales $59.17 million ($50.98 million) for the first six months ended Feb 28, 1977. Depreciation $1.84 million ($1.57 million). Taxation $3.57 million ($2.97 million) leaving after-tax profit $4.88 million ($3.4 million). Parent company pre-tax profit
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  • Article
    CHICAGO BOARD OPTIONS
    1286 4 On May 5 CHICAGO Board on Thursday Options Exchange volume .was 113,200 contracts, up from 96,208 on Wednesday. Advancing series outnumbered declines 294 to 172.v Alcoa xm A«n T» Am t> AaTt AUK AUK Am Aim Ann tern. BMkl MM furrm (mi Bumn 8«*rro» CM« Os»p M
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  • Article
    Lock icon Fate of Paris mart in the balance
    1233 4  -  By DAVID CURRY FT THE French stock exchange Is now firmly established as the disaster area In French financial life. After suffering the worst decline last year of all the bourses serving advanced Industrial countries, it has so far this year continued Its
    FT  -  1,233 words
  • Article
    Lock icon Drop in earnings of farm machine makers
    511 4  -  By V. G. VARTAN NYT WHEN the nations leading farm equipment manufacturers Issued their latest earnings reports earlier this year for the first fiscal quarter ended Jan. 31 profits Invariably ran below year-earlier results. Deeres net dropped to 67 cents a share from
    NYT  -  511 words
  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      205 4 Have jou i£ot your cowof the 1936k77 BUKUMERAH? The complete filing cabinet on the Singapore business scene ALPHABETICAL INOEX r fTiTf ■i OFFICIALS AND PUBLIC BOOIES INFORMATION »I««TI»T ran Ml m The Straits Timet DIRECTORY OF SINGAPORE 1976 77 Hub a pwstßSNts*<?2£ m It's the 1976/77 'Red Book" the office/library
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Hoechst faces high growth target
      679 5 Reuter FRANKFURT, Fri. Hoechst parent company sales, which rose 2.4 per cent In first quarter this year, will have to show a considerable Improvement over the rest of the year for the seven per cent 1977 growth target to be achieved, board chairman Mr. Rolf
      Reuter  -  679 words
    • Article
      Lock icon Sharp profit rise at Dresdner Bank
      294 5 Reuter FRANKFURT, Fri. Dresdner Bank's first quarter 1977 operating profit was higher than the year-ago due to a sharp Increase in trading profit, management board spokesman Mr. Juergen Ponto told shareholders. Surpluses on Interest and commission business were slightly lower than In the first
      Reuter  -  294 words
    • Briefly
      • Article
        Carnation hopeful
        89 5 LOS ANGELES. Fri. Carnation expects first quarter earnings up 11 per cent from the US$l.37 a share a year ago, prior to an adjustment for a two-for-one stock split, chairman Mr. H.E. Olson told the annual meeting. Mr. Olson said the first quarter earnings will reflect a loss
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      • Article
        Am. Express
        29 5 NEW YORK, Fri. The New York Stock Exchange said It approved American Express common stock for listing on May 18. The company's stock is now traded over-the-counter.
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      • Article
        Renfe credit raised
        93 5 FRANKFURT, Fri. The seven year Eurodollar credit for Spanish railway authority Renfe has been raised to US$l3O million from the originally planned $100 million because of good market response, Euromarket sources said. The state-guaranteed credit, carrying a margin over London Interbank Eurodollar offered rates of 1% per
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      • Article
        NZ
        47 5 LONDON, Fri. The Development Finance of New Zealand issue was increased to US$25 million from $20 million and the 7% per cent notes due 1984 were priced at par, lead manager Citicorp International Bank said. The Issue was two and a half times oversubscribed, it added.
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      • Article
        VEW
        68 5 FRANKFURT, Fri. The proposed 150 million mark 15-year corporate bond for Verelnigte Electrlzitaetswerke Westfalen (VEW) is expected to bear a 6% per cent coupon and be priced at par, lead manager Deutsche Bank. The bond will be redeemed in 10 equal portions after five years of grace, It added.
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      • Article
        Qatar
        73 5 PARIS, Fri.. Qatar plans to float US$35O million seven year loan with a spread of one per cent over London interbank offered rates, a spokesman for agent bank Union Des Banques Arabes et Francalses said. The state-guaranteed loan, expected to be launched officially early next month, will be Qatar's
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      • Article
        Cie Bancaire
        54 5 PARIS, Fri. Cie Bancaire said It will make a one-for-four free share issue by incorporating reserves thus raising Its capital to 383 million francs from 306 million. The company said the issue will be made In the coming months and the new shares will be eligible for dividend
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      • Article
        B.C. Hydro
        32 5 LONDON, Fri. The British Columbia Hydro and Power Authority US$75 million 7% per cent Euro bond, due 1985, was priced at par, issue lead manager Credit Suisse White Weld said.
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    • Article
      Lock icon Akzo suffers setback
      295 5 Reuter AMSTERDAM, Fri. Akzo reported that net profit fell to 11 million guilders on sales of 2.68 billion guilders In the first quarter this year from 21.6 million guilders and sales of 2.82 billion guilders previously. The company said It still hopes to make a modest profit
      Reuter  -  295 words
    • Article
      New Dutch firm in US property mart
      317 5 ROTTERDAM, Frl. Dutch Institutional Investors Intend to step up considerably their activities in the US commercial property market. For this purpose, a new company is being set up In the US at the initiative of Blauwhoed, the property arm of the Dutch Pakhoed
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    • Article
      Lock icon Fluor expects record results
      133 5 Reuter ZURICH, Fri, Fluor expects record net earnings and order books for the fiscal year ending Oct 31, 1977 chairman and president Mr. J.R. Fluor told a press conference. Revenue In the current fiscal year may be slightly lower, but the company expects an outstanding rate
      Reuter  -  133 words
    • Article
      Lock icon Gillette's offer for Braun
      100 5 Reuter FRANKFURT, Fri. Gillette of Boston, through Its wholly-owned subsidiary Gillette International Capital, plans to offer 405 marks per 50 mark nominal for the Braun preference shares It does not already own, Braun said. Gillette International acquired all Braun's 18 million mark ordinary shares In 1967
      Reuter  -  100 words
    • Article
      Lock icon WMC suspends Jurien project
      241 5 Reuter MELBOURNE, Frl. Western Mining Corp (WMC) said it will suspend its mineral sands operation at Jurien Bay, Western Australia, and place the project on a care-and-maintenance basis from end-May. WMC said In its report for the 12 weeks ended April 5 that market remained depressed
      Reuter  -  241 words
    • Article
      Lock icon Ampol Exploration
      59 5 Reuter SYDNEY, Frl.,. Ampol Exploration said the onshore exploratory well, Warro No. 1, encountered three fair to good gas shows in thin sandstone beds below 4,392 m. The hole, at present depth of 4,435 m, Is being conditioned prior to running an evaluation site of wireline electric logs.
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    • Article
      Lock icon GM agrees to recall 2.2 m vehicles
      169 5 Reuter WASHINGTON, Frl. The Department of Transportation said General Motors agreed to recall 2.2 million 1976 cars and trucks to correct a defect In the power brake system. The Department said It has been investigating reports that the power brake systems In certain
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    • Article
      Lock icon ICI, Montedison venture
      89 5 Reuter LONDON, Fri. Imperial Chemical Industries Is reviewing its plans for a Joint venture with Montedison to build an aniline plant In Prlolo, Sicily, an ICI spokesman said. He told Reuter both partners are seriously reassessing the situation In the light of problems sur- rounding the project.
      Reuter  -  89 words
    • Article
      Lock icon American Brands increased payout
      178 5 Reuter NEW YORK, Frl. American Brands chairman Mr. R.K. Helmann told shareholders he expects when the board meets seven months from now It will approve a satisfactory dividend increase. American Brand's board In January Increased the quarterly dividend payable in March to 73 US cents from
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    • Article
      Sotheby Group plans to go public
      192 5 LONDON, Fri. Sotheby Parke Bernet Group the art auctioneering company Is planning to go public In the next few months through an offer of shares for sale. The flotation could well place a value of more than £15 million on the business. Sotheby's which
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    • Article
      Lock icon Higher first quarter at C. Pacific
      324 5 Reuter UPI MONTREAL, Frl. Canadian Pacific chairman Mr. I.D. Sinclair attributed higher first quarter earnings to higher business volume in most operations and generally Increased prices. He told the annual meeting prospects for 1977 are encoraglng and earnings are expected to Improve though at
      Reuter; UPI  -  324 words
    • Article
      Lock icon British Leyland sales plunge
      171 5 Reuter LONDON, Frl. British Leyland's car sales fell sharply last month following a crippling unofficial strike by toolroom workers, preliminary figures showed yesterday. The firm's market share now stood at 19.6 per cent below 20 per cent for the first time compared with 23 per cent
      Reuter  -  171 words
    • Article
      Lock icon Atlas Mining Carmen operation
      104 5 Reuter NEW YORK, Fri. Atlas Consolidated Mining and Development said its Carmen copper project in the Philippines is expected to begin production about three months ahead of schedule. The new project, which will increase the company's annual copper production by 42 per cent, is now expected
      Reuter  -  104 words
    • Article
      Lock icon Alcoa confident
      76 5 Reuter CHICAGO, Fri. Aluminum of America expects shipments in second quarter to top the year earlier as well as first quarter levels, chairman Mr. W.H. Krome George told reporters, following a meeting with analysts. In the first quarter 1977, shipments totalled 447,000 tonnes. He said the company is
      Reuter  -  76 words
    • Article
      Lock icon Dow aims to maintain 10pc earnings rise
      352 5 Reuter RICHMOND, California, FYI. Dow Chemical officials expressed determination the traditional 10 per cent earnings Improvement goal, interrupted by a profit decline last year, will be met in 1977. Chairman Mr. C.B. Branch and president Mr. Zoltan Merszei reaffirmed the goal at a
      Reuter  -  352 words
    • Article
      Lock icon Hoesch will probably pass dividend
      402 5 Reuter DORTMUND, Frl. Hoesch will probably pass its 1977 dividend as 1977 is likely to be more unfavourable than 1976 for Its 50 per cent subsidiary Estel Hoesch-Hoogovens, Hoesch managing board chairman Mr. Heinz Solbach said. Hoesch Is proposing a two mark dividend for 1976
      Reuter  -  402 words
    • Article
      Lock icon Sohio anticipates improvement
      226 5 Reuter CLEVELAND, Fri. Standard Oil (Ohio) expects results for the balance of 1977 to Improve from the level of the first quarter, president Mr. Joseph D. Harnett told the annual meeting. Vice-chairman Mr. Alton W. Whitehouse Jr said of the US$5.2 billion in financing needed for the
      Reuter  -  226 words
    • Article
      Lock icon Oakbridge forecast buoyant results
      107 5 Reuter SYDNEY, Frl. Oakbridge said It should make a record profit In the year ending June 30 after achieving profit in the nine months to end March well above that for the same year earlier period. It gave no figures for the nine month profit but
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  • Page 5 Advertisements
    • Advertisement
      Page 5 Advertisements Column 1
      205 5 Give us a man for a monthwe'H give him a language for life inlngua now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency
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  • Article
    Share Information Service
    2149 6 1*77 Hick U» i Last Company Sale Gr'i div Div ♦or- e'rr SECTION ONE Gri Net y'U P/E V«l Day cm) Hick Low INDUSTRIALS 146 133 204 76 212 101 1W 163 219 392 136 127 204 58 212 57 155 154 182 356 Acma Acma A
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  • Article
    Transactions in Singapore
    1275 6 BID and o#er prices officially listed and business In and reported to the Stock Exchange of Stneaoore vesterdav with the number of shares traded shown In brackets In lots of 1000 units unless otherwise specified. All Time Settlement Contracts are Bted after the word "Sett." Board deals
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  • Article
    Unit trusts
    144 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Maaagen' prion for May 1) (Cant prion) The Commerce 1.74 1 84 INCOME BOND .1.05 1.11 The Saving Fund 0 .90 0 95 MARA BUMIPUTRA FUND S'pore Prof Fund 0 80 0 85 (Maaagcn' prion for May 9) 8'pore Security Fund 1.45
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  • Article
    Domestic govt bonds
    167 6 B O T 8 1/2% IMI (100.000) (102%i8 103S) D B 8 8 1/2% 1982 (100,000) (100 KB 100VS) DBS Convert* C 1/2% 1991 (100.000) (97K8 98S) E I B 9% 1982 (100.000) (103 KB 104 KS) E I B 8 1/4% 1983 (100.000) (100 KB 101S)
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  • Article
    Corporate bonds
    108 6 5 1/2% 1/4/78 (250,000) (101 458 101.556) 5 1/2% 15/4/78 (250.000) (101.458 101.558) 5 1/4% 15/7/78 (250.000) (101 458 101.555) 4 3/4% 1/V79 (250.000) (100.708 100.78S) 7% 1/7/79 250,000) (104.658) 5 1/4% 15/10/79 (250.000) (101.658 101.758) 6 3/4% 15/S/80 (250,000) (103.30B) C 3/4% 1/12/80 (250.000) (103.30B) 5% T
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  • Article
    In Kuala Lumpur
    1336 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 Aetna (1 428) A team (1 90S A. Ch.c (0.708 0
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  • Article
    Prices react downwards
    573 7 SHARE prices plunged sharply in active trading at the Stock Ezehaai* of Singapore yesterday alter operators rsacted to the buying spree at the past two days and began selling shortly after the opening. The main losers were the third liaers, which attracted the bulk at the support
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  • Article
    Stock options
    97 7 STRIKING price* of the stock option* officially listed on the Stock Exchange of Singapore, the periods, bid and offer price* and business done yesterday, with the number of option* traded shown in bracket*. DBS 13.90) (0.0458 O.MS) (Dec $3.60) (0.348) Inchcape (June $2.40) (0.0658 0.075) (10) 0.07 H.
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  • Article
    Equally sharp losses at KL
    486 7 THE past two day's bullish advance at the Kuala Lumpur Stock Exchange was checked when profit-takers and short-sellers moved In yesterday. Prices, which had surged ahead initially, were forced back as dealers took advantage of the wider margins to liquidate positions. There was heavier selling
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  • Article
    New York
    1198 7 NEW YORK: Mock price* closed higher after a rocky start on Thursday. The market was down slightly near the opening. Just after the labour department's report that the April wholesale price index rose a seasonally-ad-justed 1.1 per cent following a similar large Increase In March. But stocks rallied
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  • Article
    Milan
    119 7 MILAN: The market drifted lower In slack trading, with operators citing the political situation, dealers said on Thursday. Ante gained against the trend while rial, MoUdUon, both Oliv*tti« and Pir*UU, Bslsgl Sola Vlieon and NiMuct declined. Bonds were selecUvely higher In moderately active trading. MAY .Urt Ante 202 1.9
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  • Article
    Frankfurt
    306 7 FRANKFURT: Shares on Thursday, lost up to On narks on a continuation of Wednesday's technical reaction, with sslllng also sst off by uncertainty on the foreign exchance market ahsad of the weekend summit, dealers said. Stores lost up to f1.90 marks, led by Ksefkst Msmsas. which announced slightly lower
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  • Article
    Sydney
    333 7 SYDNEY: The market closed mixed on Friday In active trading, with profit talcing affecting some stocks but others remaining close to their recent high levels, dealers said. The Sydney All-Ordinaries index rose 0.21 point to cloae at 950.93. Paacwrt—tal fell 25 cents to $13.85 BHP 10 cents to 96.40,
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  • Article
    Amsterdam
    238 7 AMSTERDAM: Shares generally eased, with Dutch Internationals led down by AKZO reflecting lower first quarter net profits, dealers said on Thursday. Gist and IHC eased while Algemene Bank, gained against the trend, trading exrights 13.90 guilders higher at 329. ELM. VMP and Aafes Also firmed state loans were quietly
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  • Article
    Manila
    143 7 MANILA: The market closed mixed on Friday In sluggish trading, and lower volume, dealers said. Commercial and Industrial sectors again led gainers on the board, with Baa Miguel B, Phitex A and CDCP rising. Minings, however, eased on the fall in metals prices, and oil declined due to lack
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  • Article
    Jo'burg
    324 7 JOHANNESBURG: Gold shares traded basically steady at lower levels In very quiet business, on lover European bullion Indications, dealers said on Thursday. Financial minings were basically steady, with Aagiee five cents harder at 385 and Loarke gaining 15 cent* to 190. D« Dim lost three cents to 430. Coppers
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  • Article
    Brussels
    180 7 BRUBBELS: The market was sharply higher following the cut in bank rate, and further encouraged by the firm trend on Wall Street, dealers said on Thursday. Societe Generate. Sidro, Intercom A»turienn- Ho bo ken Geomiaee, FN, Aoee, Selvay and CMMtra were among local Issues to rise, while steel shares
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  • Article
    Paris
    325 7 PARIS: The market fell In all sectors following Prime Minister Raymond Baire's statement that the government has already taken sufficient measures to help the bourse, dealers said on Thursday. KletMr Schnckbr Moulinex and Mariae all lost between five and seven per cent while CCF, Peugeet. Begkia, Berel, and Redouts
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  • Article
    Zurich
    279 7 ZURICH: The market closed slightly lower In moderately active dealings, dealers said on Thursday. Among narrowly-mixed leading banks Lea bearer and Baakgsssllschaft ruled very steady, while Volkshaak and Kredftaastalt moved lower, despite KrWiUsstilt'i announced higher balance sheet total and increased earnings for the first quarter. Actively traded Baakvwwui ruled
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  • Article
    Toronto
    285 7 TORONTO: The market closed sharply higher In active trading on Thursday. The composite rose five points and advances outpaced declines 248 to 158. Falconbridge NicMe gained to 34 and Fatoonbridge Ci||K added M to S% after both reported higher first quarter earnings. Braada Mines, which also reported Improved first
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  • Article
    Bangkok
    94 7 MAT Bahts Asia Plbrc 186 unch Bangkok Bank 299 unch Bangkok Invest. in unch Bangkok-Metro-politan Bank Bata 4338 Beril Jucker no 15 CharoongThal 10 Wire in Dumex DuUtThanl Faber Merlin FlrstTrust Indo-Thal Industrial Finance Con) J And J Ho ins 230 -10 unch Jalaprathan 123 +2 Cement Kamasuu LeeKwangMln
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  • Article
    Tokyo
    508 7 TOKYO: Share prices closed slightly easier aher opening higher, as profit taking more than offset Initial gains, dealers said, on Friday. The Dow Jones average fell 1.52 to close at 5,140.34 with volume 220 million shares. The New index closed at 383.96, up 0.11. Blue chips rose In early
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  • Article
    Hongkong
    356 7 HONGKONG: The market closed narrowly mixed In moderate, selective trading, dealers said on Friday The Hani Seng Index dropped 1.06 points to close at 443 91 Hoarkoaf Buk, Hutchiaoa and WMaiock Mardn were unchanged, while Swire Pidfic S lined 10 cents to $9.30 and oofkong Ltsi fell five cents
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  • Article
    Indices
    61 7 FINANCIAL TIMES INDUSTRIALS Thursday 443.3 Wednesday 440.0 Week Ago 428.2 DOW JONES AVERAGE INDUSTRIALS Thursday 043.44 Wednesday 040.72 Week Ago 027.32 LONDON DOLLAR PREMIUM Thursday 121K to 121% Wednesday 121% to 122K H.K. HANG SENG Thursday 445.04 Wednesday 442.02 Week Ago 442.53 SYDNEY INDUSTRIALS Thursday 3(3.20 Wednesday 350.22 Week
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      343 7 Tetlß" Yes, Penguin books are not to be found in any ordinary shop. Not in little road side stalls. Heavens, certainly not in the pasar ma lam! Because Penguin books are rather special. They are mind-stimulating, deeply researched, entertaining in a wholesome way, highly educational quite unlike the type that
      343 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Local and foreign rubber markets
      832 8 OPENING quotations In the Singapore rubber market yesterday were marked up marginally, /ollowlng higher overseas advices. First business was done at 201.50 cents for June RSS One. Prices later fell gradually on profit-taking and some upcountry selling to close lower on balance, dealers said. Turnover
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    • Article
      Closing prices
      29 8 Rubber: May Singapore: May 194.50 cU (down 1.25 cU.) Malaysia: June 200.50 cts (down 51.75 cts) Tin: 51.450 (down $25) Official offering: 230 tonnes (down (4 tonnes)
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    • Article
      Produce prices
      287 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICE* PER PICUL YESTERDAY. Coconut Oil: Bulk SlO5 sellers, old drum SI 10 sellers, new drum >115 sellers. Copra Mixed (loose) UK/Cont. $70 buyers. Pepper Muntok ASTA white f.o.b. 100% NLW $397' 2 sellers Sarawak white f.o.b. 96% NLW $3 77'2 sellers.
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    • Article
      SSR and SMR
      107 8 May June R. AS. <Ci limit Mtk) (Forward Mtk) Buyer* Seller* Buyers Seller* •nUperkf) (cent* par kf) SSR20 (1-ton Pallet) 194 00 195 00N 195 00 196.00N SSR SO (1-ton Pallet) 192 00 193 00N 193 00 194.00N M.R.E.L.B. June July SMR5CV (1 ton Pallet) 221 00
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    • Article
      Straits tin
      198 8 THE Straits tin price in Penang yesterday was down $25 to $1,450 on an official offering down 64 tonnes to 230 tonnes. In LONQON yesterday, tin closed with small gains of around £6 for Cash and £3 for Three Months in both contracts. Steadiness in most of the
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    • Article
      Palm oil
      117 8 THE following palm oil price* were quoted In London on Thursday Ttv ww< are elf Rotterdam and are quoted in US dollar per ton unless otherwise stated. TVirsday l*i»». Malaysia b% f(a bulk 675 air Jul/Aug 670 sir Sumatra 5% May unch 670 N June 875 sir 665
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    • Article
      Gold
      336 8 IN the Singapore gold market yesterday the kilo bar was traded at 8511,740 to 5511,700. The loco London gold hovered around U*****.40/ 147.70 with minimal business done. The London morning fix was U*****.75 up 80 cents on the previous fix. Source: Slngmas. Retail prices per tael quoted by the
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    • Article
      Copper
      261 8 LONDON, Fri. Copper wlrebars showed gains of mostly £8.50 In the morning. Values advanced on the pre-market on a flurry of covering Induced by the very steady close at New York, dealers said. Three Months traded up to £829 but slipped back under profit-taking to £827. Losses were recouped
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    • Article
      Lead
      57 8 LONDON, Fri. Lead gained mostly £1 per tonne in the morning. The movement took Three Months up to £407 per tonne before profit-taking pared the position to £403 during late ring and kerb dealings. Nearby borrowing at the outset widened the backwardation to £4 but this narrowed to around
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    • Article
      Zinc
      72 8 LONDON. Fri. Zinc eased by £2.25 for Cash and £1.75 for Three Months in the morning. The metal was relatively steady earlier on, but fell back in sympathy with lead under hedge selling and some stoploss operations. Three Months fell from £393 in early ring trading down to £385.50
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    • Article
      Silver
      235 8 LONDON, Frl. Silver finished with gains of one to two pence per troy ounce In the morning. Steadiness was due mainly to higher gold which Offset the New York close as a market Influence, trade sources said. Prices fluctuated narrowly throughout with Three Months closing at 281.4 pence. Ring
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    • Article
      Coffee
      228 8 LONDON, Frl. —Futures In the morning closed an active opening session with losses from last night of £49 to £28. 1,372 lots were traded and the official market tone was steady. July recovered to close £42 lower at £3,150 having traded 883 lots within a high-low range of £3,160
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    • Article
      Soybeans
      114 8 CHICAGO, Frl. -A late plunge In soybean futures prices yesterday left old crop months with limit losses of 30 cents a bushel. At the close, the May and July were down around fI.OO from their seasonal highs. Prices fell at the opening before rising from the lows on shortcoverlng,
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    • Article
      Rice
      206 8 BANGKOK, Frl. Indicative prices for rice quoted In Bangkok are: ('JS dol'iri per tonne fob basis Bangkok White Rice: 100 per cent Ist class 284 100 per cent 2nd 267 100 per cent 3rd 262 5 per cent 252 10 per cent 232 15 per cent 229 20 per
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    • Article
      Sugar
      208 8 LONDON, Frl. Terminal opened steady In the morning, £0.25 to £1.05 below Thursday afternoon levels In sales of 830 lots. Kerb losses had been upto as much as £2.50 Market sources said light trade buying and shortcovering found sellers not so pressing as during last night's New York Inspired
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    • Article
      Wheat
      89 8 CHICAGO, Frl. —Wheat futures yesterday closed Just off the lows of a narrow trading range, with losses of two to 2 3/4 cents a bushel. With weakness in soybean futures adding to selling ideas, new seasonal lows were reached In early dealings on speculative selling prompted by low cash
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    • Article
      Rubber markets recover slightly
      432 8 THE trading week, diminished by two market holidays, has experienced easier conditions and a partial recovery at the end, to lose some two cents on balance, .said Holiday, Cutler and Bath in Its weekly rubber market review. sentiment was Initially influenced by London's softness, disappointing orders
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  • MONEY AND EXCHANGES
    • Article
      Singapore
      464 8 THE local money market eased yesterday. Overnight funds opened at the 3V» per cent level In the morning and by closing time was being traded at 2% per cent. Dealers said small volumes were traded as most dealers had In the last few days taken refuge In relatively cheaper
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    • Article
      Asian $ rates
      160 8 Asian rates ASIAN currency deposit interbank rates u at cloae on May 0 US Dollars Offer Bid 7 days 5 7/18 5 5/16 1 mth .5 13/16 5 11/16 2 mths 5 1/16 5 9/16 3mths 5 13/16 5 11/16 8 mths 6 5*4 9 mths 6S 12 mths 5/16
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    • Article
      Discount
      43 8 RANGE of price* offered by discount houses on May Overnight 3S Call deposit 3* 3- month Treasury bills 3 v 2 7/S 3-Month Bank bills 4 37/1 3-Month CD 41/4 4 1/B 0-Month CD 47/1C 4 5/16 Source: National Discount Co. Ltd.
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    • Article
      Euro $ rates
      70 8 Euro rates LONDON, Frl. —Eurodollar deposit rates rose In response to the US money supply figures which seemed to confirm the authorities' intention to hold fed fund levels around 5 1/8 to 5 1/4 per cent, dealers said. One Month showed a disproportionate gain of 5/8 because of a Friday
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    • Article
      Treasury bills tender
      90 8 REBULTB of tender held on May 6 for 91-day and 182dajr Treasury bills, (a) 91-day Treasury bills to be issued from May 9 to May Offered: 820 million Applied for: 862.220,000 Allotted: 820 million Accepted bid: 899-26 approximately 10%; higher bids in full. Average rate of discount
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    • Article
      Tokyo
      185 8 TOKYO. Frl. The yen firmed on speculation that Japan may be pressed at this weekend's London economic summit to allow its currency to appreciate, dealers said. No central bank intervention was detected. The yen closed at 276.40 to the dollar for overnight delivery, unchanged from the opening but firmer
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    • Article
      New York
      163 8 NEW YORK, Frl. The dollar yesterday was In demand in fairly active trading during the afternoon after coming under pressure earlier, dealers said. They noted a significant reduction of short dollar posltions on uncertainty about the London economic summit this weekend, and said increases in US wholesale prices
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    • Article
      Hongkong
      120 8 HONGKONG. Frl. The US dollar drifted lower in quiet trading to a late HK54.6575/ 95 from yesterday's late 4.6620/ 40 but remained steady against other currencies, dealers said. The US unit was little changed on Its New York close against the mark, guilder, Swiss franc and sterling, but eased
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    • Article
      London
      92 8 LONDON, Fri. —The dollar moved up slightly in the key European currency centres in subdued early trading, dealers said. Eurodollar Interest rates were being marked up initially, following the latest $1.7 billion lump in US narrowly defined money supply. Sterling traded at $1.7185/88 against $1.7186/89 overnight, while the mark
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    • Article
      Frankfurt
      33 8 FRANKFURT exchanges opening quotes on May 6 US 2 .3515/25 Can 2.2450/70 UK 4.040/045 Neth 96.12/22 Swltz 93.14/22 Italy 2.646/654 France 47.42/52 Norw 44.44/52 Belg com 6.527/537 Belg fin 6.52/53 Japan 0.8505/20
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    • Article
      Minimum lending rates (in %)
      41 8 Minimum lending rates (in First Chicago AE SI Lirl Citibank iJa ll Ml HSBC 7 I Indosuez Eizeim Malayan Banking f1*. THTI Mitsui Bank OCBC Indonesia 7 GUB Chartered Bank 6\ UCB 7 Chase Manhattan UMBC 7 DBS 64 UOB 6S
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    • Article
      Australia/NZ
      51 8 AUSTRALIA/NZ exchanges quoted on May 6 Australia: Sterling 0.6469/ 0.6398 US dollar 1.1082/ 1.1034 Ninety-day air mall buying rates: Sterling 0.6651 US dollars 1.1335 Ninety-day forward buying rates: Sterling 0.6452 US dollars 1.0965 New Zealand: Sterling 0.5604/ 0.5573 US dollar 0.9678/ 0.9578 Ninety-day forward rate: Sterling 0.5793 US dollar
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    • Article
      Zurich
      61 8 ZURICH exchanges closing quotes on May 5 US 2.5180 5188 UK 4.3285 3315 Can 2.4045 4065 W Germ 107.26 33 Neth 103.07 18 France 50.88 91 Belg 7.00 1/4 01 Denm 41.79 83 Norw 47.69 73 Swed 58.06 10 Italy 0.2839 2841 Austria 15.05 07 Port 6.51 53 Spain
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    • Article
      Eurobond prices
      296 8 LONDON. Fri. Dollar bonds generally eased in active trading, dealers said. Convertible bonds were fractionally firmer with no real features in quiet dealing. LONDON Eurobond prices quoted on May 6 Straight* BM Offer Austria 8'. 90 101 v. 101% Bell Canada 8% M 104% 105% BFCE8S83 102*. Brazil
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      Page 8 Advertisements Column 1
      163 8 Keep in touch with business developments in Singapore wherever you are in the woild Subscribe now to Business Times K BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) Surface mail Zone Singapore Malaysia. Brunei Overseas Second class airmail (Individually wrapped and mailed) Zone Brunei, Sarawak, Sabah Australasia/Pacific (excluding
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  • Article
    Lock icon New York's ban on Concorde an obstacle to free trade
    389 9 UPI NEW YORK, Frl. French Minister of Foreign Trade Andre Rossi said yesterday that New York's ban on Concorde landings is an obstacle to free trade and against international agreements signed by the united States. But, he said: "We hope
    UPI  -  389 words
  • Article
    Britain's 'no' to MAS landing rights
    492 9 KUALA LUMPUR, Friday ALL ATTEMPTS to obtain landing rights for Malaysian Airline System's second wide-bodied jet to London have so far proved unsucessful. The recently ended round of bi-lateral negotiations in London, attended by the Minister of Communications Tan Sri V. Manlckavasagam, was, according
    492 words
  • Article
    Thai International
    49 9 THAI INTERNATIONAL celebrated Its 17th anniversary last Sunday by Inviting passengers, on board all Thai flights to toast the day with free champagne and birthday cake. A special gift of a set of silver coffee spoons was presented to the 17th passenger checklng-ln on each Thai flight.
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  • Article
    Lock icon World shipping recovering from latest crisis
    290 9 AP OPATIJA (Yugoslavia), Frl. World shipping Is gradually recovering from Its latest crisis, according to Carl-Henrlk Wlndqwlst, secretary-general of the International Chamber of Commerce. In an address opening the second International Maritime Conference here yesterday, Mr Wlnqulst said, however, that the rate of inflation,
    AP  -  290 words
  • Article
    Call to define regular air services
    347 9 ALL regular commercial air services should first be defined, whether they are public or programmed charters, Mr. Knut Hammar sk J old, director general of the International Air Transport Association, (lATA) told the International Civil Aviation Organisation (ICAO) special air- transport conference last month.
    347 words
  • Article
    Lock icon Special tax on airline tickets?
    195 9 AP WASHINGTON, Frl. A special tax should be levied on airline tickets to help pay up to 35 per cent of the cost of new, quieter Jetliners, Transportation Secretary Brock Adams said yesterday. The aim of the tax would be to help the airlines buy
    AP  -  195 words
  • Article
    Lock icon Cut power usage
    42 9 UPI MANILA, Frl. Manila Metropolitan Oovernor Mrs. Imelda Marcos, noting that street lights were on even during daytime and that hotels were too brightly Illuminated, has ordered local government units to cut power consumption by 50 per cent— UPI
    UPI  -  42 words
  • Article, Illustration
    Jumbo ramps for ro-ro ships
    232 9 THE recent boom In orders for large ocean-going roll on/roll of (ro-ro) ships In the 25,000dwt range has resulted In an equal rush in orders for the Navlre Cargo Gear (NCO) organisation. Seven large ro-ro ships recently ordered In Japan and Norway for the Scan
    232 words
  • Article, Illustration
    IN PORT
    395 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Amgun (Tanker) (after Fujltsuki Maru) (Subject gas free) (P/O) 14 Bunga Melor (0600 after Jalakala) (Must head 'Vest) (UTM/L) 31/32 Cherry Vilja (B. Barge) (2300 tbc) 48 Kelyo Maru (Car Carrier) (0400 after Martha Bakke) 6/7 King Bird (0600 after King Horse) 46
    395 words
  • Article
    American President Lines
    335 9 AMERICAN President Lines (APL) currently operates a modern fleet of 20 vessels including 15 full container ships and five container/breahbulh vessels serving various trade routes. APL's various services connect the US and Canada with hey marhet centres throughout the Orient. Major APL trade routes are supplemented by
    335 words
  • Article
    Lock icon Belgium signs for F-16
    84 9 Reuter ST. LOUIS, Frl. General Dynamics Corp said Belgian Government officials signed the US letter of offer and acceptance for the F-16 fighter, completing commitments by the four Nato countries that will purchase and co-produce the aircraft. Earlier this week Norway, the Netherlands and Denmark signed
    Reuter  -  84 words
  • Article
    Lock icon London freight market
    170 9 AP LONDON, Frl. Although covering several miscellaneous trades, chartering failed to expand on the London shipping freights market yesterday. However, the overall rate structure showed little change. Oreat Lakes grain charterers repeated U5516.25 (PIO) for the Thuredrecht to work 14,000 tonnes to the OhentHamburg range In May
    AP  -  170 words
  • Article
    DAILY AIRCRAFT MOVEMENTS
    628 9 ARRIVALS serrioe Operator Number Tim* Proa CAL CI333 0400 TPE/HKG/KUL CPA CX003 0145 HKO MAS MH682 0610 KCH PAA PA847 0830 SFO/HNL/OUM CPA CX710 1000 HLP CAL CI814 1000 HLP 8IA SQ211 1015 HLP QIA QA980 1030 HLP THAI T0423 1035 BKK QIA QA908 1100 MES PAL
    628 words
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      Page 9 Advertisements Column 1
      362 9 Good reading on I M V 11 from Penguin China the most populous nation in the world. Fast emerging as a major power in world politics. Isolated from the rest of the world for over two decades, world attention has nevertheless turned to this most enigmatic of nations time and
      362 words
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  • Article, Illustration
    Lock icon A FRIENDLY CARTER BUT NO PUSH-OVER
    1859 10  -  By JUREK MARTIN BARLEY TWO months ago ring-side seats at today's economic summit in London would have been in great demand. In spite of the reputation for blandness richly earned by earlier gatherings of heads of Government, the prospect this time was for a
    AP picture.  -  1,859 words
  • Article
    Aussie fresh fruits popular in S'pore
    873 10 AUSTRALIA makes a lot of noise about the way developing countries with cheap labour swamp its markets with low cost textiles, shoes and air-conditioners to name just a few items. Canberra is however remarkably reticient about its own bounti- ful exports like apples and
    873 words
  • Article
    Lock icon How Rhodesians beat UN trade boycott
    915 10  -  By JOHN EDLIN AP THE Rhodeslan trade fair opened this week In Bulawayo with a vast array of products and a hint of now Rhodeslan businessmen beat the boycott. "Necessity Is the mother of invention and we've not only survived International pressures but we've
    AP  -  915 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      185 10 MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE SHS ASIA RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide to the latest developments that have taken place in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin is
      185 words
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  • Article
    Lock icon Harder for US firms to comply with boycott
    414 11 UPI WASHINGTON, Fri. The Senate approved sharp curbs yesterday limiting the compliance of US firms In the Arab boycott of Israel. The legislation was approved 90-1 with only Senator Jesse Helms, Republican North Carolina. voting against it. The bill will have to
    UPI  -  414 words
  • Article
    Course on analysis of investment
    188 11 A ONE-YEAR evening course leading to a Certificate in Investment Analysis has been planned by the Singapore Securities Research Institute and the Faculty of Commerce, Nanyang University. A letter of understanding on this project was signed yesterday by the chairman of the Stock Exchange of
    188 words
  • Article
    Lock icon 'No positive sign from Japanese'
    247 11 Reuter WELLINGTON, Fri. —The t Japanese had not shown > any positive sign of wanting 1 to place their economic i relationship with New 1 Zealand on a long-term 1 stable basis, the New < Zealand Prime Minister, Mr. Robert Muldoon, said i tonight. Japan
    Reuter  -  247 words
  • Article
    Lock icon 14 successful bids in gold auction
    193 11 Reuter WASHINGTON, Fri. The International Monetary Fund said 14 bidders were successful at Its auction on Wednesday when it sold 524,800 ounces of gold. The IMF accepted 38 bids in all. Among successful bidders were J. Aron and Co Inc of New York, Bank
    Reuter  -  193 words
  • Article
    Lock icon Talks on footwear import curbs
    149 11 UPI TAIPEH, Frl. American and Taiwan officials started a two-day talk yesterday on the Import restrictions of local nonrubber footwear to the United States but have reached no agreement so far, trade sources said today. The seven-member US delegation, headed by Mr. Stephen Lande, assistant
    UPI  -  149 words
  • Article
    Lock icon FRENCH INVESTMENT ABROAD RISES
    136 11 Reuter PARIS, Fri. French Investment abroad rose last year while foreign investment in France fell, according to a report published by the National Statistics Institute. Industry Ministry statistician Mr. Jean-Paul Francois said in the report latest figures show French investment abroad In the first nine months
    Reuter  -  136 words
  • Article, Illustration
    Lock icon TROUBLE AHEAD IF USE OF PETROL IS NOT CURBED
    839 11 Reuter WASHINGTON, Fri. White House energy adviser James Schleslnger warned yesterday the United States will face substantial unemployment and Inflation In the 1980s if It failed now to begin curbing petrol and oil consumption. Mr. Schleslnger also told the House of
    Reuter  -  839 words
  • Article
    Talk on GSP of New Zealand
    124 11 A NEW Zealand team of experts will be In Singapore on May 13 to conduct a seminar on the country's generalised system of preferences. This will consist of a onehour talk at the Department of Trade conference room followed by an audiovisual presentation. The
    124 words
  • Article
    Non-aligned bloc gaining influence
    79 11 THE non-aligned bloc of countries has become a force to be reckoned with in the world, according to Mr. Flltpovic Mlßitin, Charge d'Arfalrs of the Yugoslav Embassy here, at a Rotary Club luncheon meeting yesterday. Mr. Mllutln said: "The consolidation of existing forms of cooperation and
    79 words
  • Article
    Lock icon $3.7 bil aid for Egypt
    60 11 AP CAIRO, Fri. Egypt was granted a U551,475 billion (553.68 billion) loan yesterday from four Arab oil states to help pay Its short term debts and get Its economy moving. The loan was given by the Gulf Organisation for the Development of Egypt, which Includes
    AP  -  60 words
  • Article
    Lock icon Rich accused of dragging their feet
    404 11 Reuter PARIS, Frl. The 19 oil exporters and developing nations Involved in the NorthSouth dialogue accused the industrialised participants yesterday of dragging their feet in the negotiations. The group Issued a statement on the eve of the London summit of the seven non-communist industrial
    Reuter  -  404 words
  • Article
    Lock icon Senate approves bribery law
    289 11 AP WASHINGTON, Frl. The Senate gave quiet approval yesterday to a new US foreign corrupt practices law which sets five-year Ja.il terms and US$lO,OOO (5524,600) fines for corporate officials who bribe officials of foreign governments. "Corporate bribery Is bad business", said a report compiled to accompany
    AP  -  289 words
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    Lock icon Holland rates cut
    197 11 Reuter AMSTERDAM. Fri. Holland cut its bank rale to 3-'% per cent from 4-'4 per cent, effective today, the Central Bank announced. IT»e rate had stood at 4-'/i per cent since April 18 when it was reduced from five per cent. The Bank will also cut the
    Reuter  -  197 words
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    Lock icon SUGAR SUBSIDY WON'T BE FELT THIS YEAR
    513 11 AP WASHINGTON, Frl. President Carter's decision to give American sugar growers a subsidy of up to US2 cents a pound to help offset declining prices will have "little immediate Impact" on 1077 United Btates sugar plantings but could influence the size of the
    AP  -  513 words
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    Lock icon A record credit increase
    125 11 Reuter Washington} fh. —Coaiuner inUlntit credit oatitaadlii increased by a record seasonally adjusted US $2.72 billion (B*.M billion) in March, tbe Federal Keeerve Board said. Tbe increase nomparod to a $2.02 billion ndvnnce in Pebrnnry nnd wna tbe biggest since tbe 52.0 billion rise in February,
    Reuter  -  125 words
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    Lock icon Spending target
    78 11 Reuter WASHINGTON, Fri. Tbe House approved a U*****.5 billion (5t1,143 billion) government spending target containing less money for defence than President Carter wanted. It voted down attempts to Jive Mr. Carter the full lll.t billion for military outlays for fiscal lt7B, starting October 1, but then approved the
    Reuter  -  78 words
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    New conversion rates mean cheaper books
    230 11 THE Singapore Book Publishers Association has recommended new retail conversion rates to its members, which makes Imported books from the UK and Australia cheaper. The recommended conversion rates effective today (with previous rates shown *wlthln brackets) are: $4.10 to 16.40 to £1 ($6.50 to
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    Lock icon Three new probes into cars' safety
    179 11 AP WASHINGTON, Fri. Three new federal investigations of alleged safety defects involving Volkswagen, General Motors and Ford cars were announced yesterday by the National Highway Traffic Safety Administration. The agency's investigation of certain Volkswagen models is based on 59 owner complaints that a design
    AP  -  179 words
  • Article
    WHEN ANY ORDER FROM W. ASIA IS A BIG DEAL
    159 11 NOWADAYS doing business with West Asia has become an end in itself from the sale of Jetties to syrup and wooden clothes hangers. One of the few companies In Singapore already operating on this basis Is Peninsula Construction Equipment, which
    159 words
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    Lock icon Media men exchange
    49 11 AP KUALA LUMPUR. Fri. Indonesia and Malaysia have agreed on a mass media personnel exchange programme. Malaysia's Information Minister Talb Mahmud said yesterday. On his return from a visit to Jakarta, he said details of the programme, would be workwi out shortly by officials concerned. AP
    AP  -  49 words
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      363 11 APPOINTMENTS INSTRUMENT SHELL invites suitably qualified Singapore citizens to apply for the above position based at Pulau Bukom Refinery Complex. THE JOB involves the design and engineering, installation and maintenance of equipment interconnecting our present instrumentation automatic control systems to several Process Information Computers. THE CANDIDATE we are looking for
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      300 11 G.L. REXROTH OIL HYDRAULICS Europes largest manufacturer of oil hydraulic equipment is now establishing operations in Singapore and has the following vacancies:SENIOR SALES ENGINEER The person we are seeking will have hod 3-5 years sales engineering experience preferably in the oil hydraulic industry and most likely hold tertiary qualifications. He
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    UK should be in the black by year-end
    430 12 A BRITISH banker said yesterday that Britain's balance of payments should be in surplus before the end of the year with North Sea oil revenue flowing in and In sustainable quantities. Mr D.Q. Mitchell, vice chairman and chief executive of Lloyds Bank
    430 words
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    Lifting of trade ban after ties
    219 12 WASHINGTON, Fri. The United States will lift its trade embargo on Vietnam as soon as the two countries have resumed diplomatic relations and established embassies in their respective capitals, the State Department said yesterday. State Department spokesman Frederick Brown said the United States made
    219 words
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    Seventh branch
    127 12 THE United Overseas Rank (UOB) will have seven overseas branches when its New York branch opens on Tuesday. According to the bank's spokesman, the New York branch has been granted an agency status and is permitted to handle almost all normal banking operations. It will be unable, however,
    127 words
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    LONDON STOCKS
    765 12 LONDON. Frl. The stock market closed slightly below the Clay's highs because the Bank of England abandoned the market-related formula and decided not to reduce its minimum leading rate, dealers said At 3.00 p.m. the Financial Times index was up 7.1 at 450.4. Earlier, equity leaders had risen
    765 words
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    Landslide win by Tories in town hall elections
    215 12 LONDON. Frl. The CoßHnitivt Party won England aad Walai, eonndtng a waning to the ruling Lihw Party thnt it wwli lot* power if it called aa early general ilirtiw. AfUr wto counting from yesterday's eleetieaa skewed tkat tke Conservatives had captured met
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    Veneer firm ordered to wind up
    99 12 THE High Court yesterday granted an order for the winding up of Veneer Products wood Laminates and Parquet on grounds of insolvency. Counsel for the petitioning creditor, Veneer Products, Mr. Ooh said that Veneer Products Wood Laminates and Parquet owes the petitioner $860,307 and
    99 words
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    Lock icon Australia may ease capital inflow further
    416 12 Reuter SYDNEY. Frl. The easing of the Australian variable deposit requirement (VDR) on foreign capital imports announced last night firobably foreshadows a urther slackening of inflow restrictions, senior bank economists here told Reuters. Treasurer Phillip Lynch said in Canberra last night that financial Intermediaries
    Reuter  -  416 words
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    Carter 'a thorn' in French-US ties
    361 12 NEW YORK, Frl. Relations between Prance and the United States will decline while Mr. Carter Is the US President, according to a pott of a group of leading Prench businessmen released yesterday by a Prench magazine. One of the businessmen. Imetal's chairman Baron Ouy
    361 words
  • Article
    Sites at two estates for 71 firms
    219 12 SOME 71 companies have been allocated land and factory sites at two up-and-coming industrial estates at Sungei Kadut in the northwest and Senoko near the Naval Basp The 227.4 ha site at Sungei Kadut will accommodate the sawmilling, woodworking, timber ana related industries,
    219 words
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    New type factory
    120 12 JURONG Town Corporation has recently come out with a new design standard terrace factory building called the T4. The third In the range so far, it is also the largest, with each unit of the T4 having a gross ground floor area of 900 sq m and
    120 words
  • Article
    Criticism of S'pore Judiciary withdrawn
    1889 12 TARLING'S COUNSEL SAYS SORRY LONDON, Frl. Defence counsel for Richard Tarllng, former chairman of Haw Par Brothers International, was yesterday told by an appeal judge In a London High Court to withdraw his criticism about the Judiciary in the Republic. Mr.-Andrew Bateson, Queen's Counsel for
    1,889 words
  • Article
    'Enough funds but not used wisely'
    527 12 MR. C.V. Devan Nair. secretary-general of the National Trade Union Congress, yesterday said he hoped the Asian Labour Summit will see concrete steps taken to eradicate the ills of workers in Asia's developing countries. Introducing the summit theme Trade Unions and the Dynamics of
    527 words
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    WHERE JAPANESE UNIONS CAN HELP ...
    144 12 WHERE JAPANESE UNIONS CAN HELP A LEADING Japanese trade unionist yesterday promised to examine areas where Japanese trade unions can help Asian countries, adding that he hoped In the near future they can provide finance and expertise to other Asian unions. Mr. Tadanobu Usaml who Is vice president of the
    144 words
  • Article
    Suits
    85 12 CHI AT Huat Hardware filed a petition in High Court yesterday, seeking to wind up Seaservices. It is alleged that Seaservices owed the plaintiff about $6,000 due for goods sold and delivered to them. Also filed with the High Court yesterday was a suit against Jacob Shipping by Asia
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      212 12 Taste the difference in TSINGTAO BEER! Tsingtao beer is distilled from the sparkling mineral waters of Mount Laoshan in China. There's abundant goodness bottled up in Tsingtao... The goodness of the finest barley and hops and mineral waters. Come, taste the difference in Tsingtao beer. Available in all Empori 640
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