The Business Times, 10 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) SOO/1/77 TUESDAY, MAY 10, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Japan will agree
      54 1 Reuter TOKYO, Mon. Japan would comply If a decision was made to hold the next economic summit meeting In Tokyo, chief cabinet Secretary Sunao So nod a said. He told a news conference Japan would not positively Invite the next summit but would comply If Tokyo was
      Reuter  -  54 words
    • Article
      Lock icon Air talks reopen
      47 1 AP TOKYO, Mon. United States and Japanese aviation officials began a week of talks today to break the deadlock on Issues Involving revisions In their current air route agreement. Two previous conferences have failed to resolve all air route problems between the two countries.
      AP  -  47 words
    • Article
      Lock icon First session
      84 1 Reuter MANILA, Mon. A provisional Government for 13 south-western Philippine provinces, boycotted by the rebel Moro National Liberation Front (MNLF) which has been negotiating for a Muslim autonomous region, today held Its first session, military sources said. The three-hour session, held in the southern port city of Zamboanga,
      Reuter  -  84 words
    • Article
      Lock icon Pledge on Berlin
      64 1 Reuter LONDON, Mon. President Carter and leaders of France, Britain and West Germany today renewed their pledge to guard Berlin's special status. Meeting on the eve of a Nato session here, the four leaders warned the Soviet Union that the maintenance of the city'snftkir-power status and of
      Reuter  -  64 words
    • Article
      Lock icon Tugs to the rescue
      65 1 AP LONDON, Mon. The 155,000-tonne cargo ship Klldare has been adrift in the South China Sea for four days since its engine broke down, the owners said today. A spokesman for Peninsular and Oriental Steam Navigation, owners of the British-registered dry bulk carrier, said that tugs
      AP  -  65 words
    • Article
      Lock icon Soft coal mining
      64 1 UPI DUESSELDORF (West Germany), Mon. The largest soft coal strip mine in the world will begin operation tomorrow In the state of North Rhine Westphalia. The announcement by the state government today laid down conditions set by the state for the mining of 2.4 billion tonnes of
      UPI  -  64 words
    • Article
      Lock icon Dow Jones
      87 1 UPI NEW YORK, Mon. Stocks headed lower today In moderate trading of New York Stock Exchange Issues. Investors were concerned that Interest rates would rise In light of the Federal Reserve Board's recent credit tightening. The Dow Jones Industrial average, which lost 6.70 points on Friday, was off
      UPI  -  87 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      191 1 FRESH speculative activity pushed selected shares higher in active trading at the Stock Exchange of Singapore yesterday. Interest was concentrated in the second and third liners like Central Sugars and General Lumber. This was clearly reflected in the Business Times index, which jumped 7.04 points to 267.36
      191 words
    • Article
      In Kuala Lumpur
      111 1 Rises Most active C. Sugars Pacific Dev. 2.23 1.11 .21 +.21 General Lumber 666,000 Cons. Plant. a.ao .12 Central Sugars 435,000 O Lumber 0.92V, +.11H Pacific Dev 222,000 Cent. Sec. 0 03 +.10 Guthrie Kopel 116,000 Sim Llm o.w +.00 Total Turnover: 2.31 M P. Cables 0.M
      111 words
  • Article, Illustration
    Industrial sector sees advances
    822 1  -  DESPITE FALLING ORDERS AND PRICES ■r JOHN TAN SINGAPORE industrialists are now more optimistic about their future than they were at the end of last year. This Is the finding of the latest survey conducted by the Department of Statistics on what businessmen here expect of
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  • Article
    Growth of loans slowing down
    270 1 THE-growth of loans and advances by banks In Singapore appears to be tapering off, after a small lift In the last quarter of 1976. Loans and advances In the first quarter this year Increased by only 3.6 per cent from 1976's last quarter to $22,166.9
    270 words
  • Article
    Lock icon Hongkong comex off to 'roaring' start
    320 1 UPI HONGKONG, Mon. Asia's first commodity Sutures exchange opened today with floor representatives shouting and organisers predicting the exchange could become one of the most active In the world. The only commodity currently traded Is cotton, but exchange organisers expect to add sugar before
    UPI  -  320 words
  • Article
    THOUSANDS LEFT HIGH AND DRY
    324 1 SYDNEY, Mon. An Indefinite strike by 900 air traffic controllers has halted all airline traffic to and from Australia leaving* thousands of International travellers stranded throughout the world. Air mail and cargo destined for foreign countries are piling up as the strike by the air
    324 words
  • Article
    Lock icon Fukuda to visit Asean states
    116 1 Reuter TOKYO, Mon. Japanese Prime Minister Takeo Fukuda Is to visit Indonesia, Singapore, Malaysia, the Philippines and Thailand, a Foreign Ministry spokesman said today. The spokesman declined to say when the visit to the five Asean Nations would take place. But the Japanese news agency
    Reuter  -  116 words
  • Article
    Lock icon U.S. STEEL UP
    64 1 AP PITTSBURGH, Mon. U8 Steel, the largest American steel producer, today followed the Wad of two other major steel-makers and announced price Increases on a variety of products. The company said the In- creases, effective on June 19, would affect flat-rolled steel, uued in consumer products such
    AP  -  64 words
  • Article
    Ship loss settled in chambers
    103 1 BIME Darby Shipping Ltd. yesterday settled In chambers a High Court civil suit arising from the loss at sea three years ago of a barge owned by Transworld Marine Ltd. The judgment sum has not been finalised but It Is believed It may amount to
    103 words
  • Article
    Lock icon Call to outlaw Soviet shipping practices
    170 1 Reuter CHRISTCHURCH, Mon. Unfair Soviet •kipping practice* mutt be outlawed by atatea bordering the Pacific Ocean, the chairman of the Auetrnlinn Committee of Transport •aid hare today. Soviet mirrhant shipping haa grown five-fold since 1960 and Soviet carriers have made inroads into noncommunist markets
    Reuter  -  170 words
  • Article
    More jobs and better paid
    125 1 SINCE coming into power 17 years back, the People's Action Party has eliminated unemployment in Singapore to a significant extent. Speaking at the Radln Mas by-election rally last night at Jalan Buklt Merah, PAP candidate, Mr. Bernard Chen, said Singapore has somehow maintained an extremely
    125 words
  • Article
    Lock icon When it's not practical to follow the West
    382 1 Reuter CHRISTCHURCH, Mon. Singapore Deputy Prime Minister Dr. Ooh Keng Swee views with growing amazement the comments by Western academics on the economies of developing countries. Speaking at the Pacific Basin Economic Council here today, Dr. Ooh said that the governments of
    Reuter  -  382 words
  • Article
    Lock icon 'EEC quotas aimed only at the poor'
    187 1 AP HONOKONO, Mon. Developing nations were today warned that the European Economic Community plans to apply worldwide quotas almost .exclusively on them. This warning was given by Mr. David Jordan, director of Hongkong's Commerce and Industry Department, when he opened a five-day seminar
    AP  -  187 words
  • Page 1 Advertisements
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      42 1 a Rolex SEE BACK PAGE. Oversees News/TV Re- Oversea* Stocks P7 dio PS Commodities PSi Overseas News/Fee- Traiiptrl A Comture pj Msieadou W Local Co Nows P4 Features Pl* International Co Nows PI Local A Overseas Local Stocks p« News p,l 12
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  • OVERSEAS
    • Article, Illustration
      Lock icon CBI alternative to Bullock report
      310 2 LONDON. Mon. Reuter ANY proposals to extend employee participation to Britain's, industry should build on what already exists and take Into account the differences of each com* pany, the Confederation of British Industry (CBI) said to its report In Place Of Bullock. Setting out its
      Reuter  -  310 words
    • Article
      Lock icon Giscard: I'm prepared
      39 2 Reuter PARIS, Mon. President Valery Discard d'Estalng said he had been ready to dissolve Parliament if a Gaullist revolt 10 days ago had defeated a vote of confidence in the government's plans for economic recovery. Reuter.
      Reuter  -  39 words
    • Article
      Lock icon Textile industry is moving towards capital investment
      609 2 NEW YORK, Monday NYT THE once labour-In tensive textile Industry Is moving toward higher capital investment In order to produce goods at lower cost to meet the competition of Imports from countries where labour Is cheap. Textile executives placed a total of USSSO
      NYT  -  609 words
    • Article
      Lock icon IRS fails to monitor transactions
      330 2 UPI WASHINGTON, Mon. A House of Representatives subcommittee said yesterday the Internal Revenue Service has failed effectively to monitor transactions In which billions of dollars have been put into foreign bank accounts to avoid United States laws. "IRS failure to implement and enforce the foreign
      UPI  -  330 words
    • Article
      Lock icon Shah keen on 3 German concerns
      189 2 Reuter HAMBURG. Mon. The Shah of Iran said in a weekend newspaper interview he hoped for an Iranian stake in Siemens AO and Allgemelne Elektrl-citaets-Oesellschaft AegTelefunken. If shares in nuclear energy concern Kraftwerk Union AO (KWU), now fully owned by Siemens, came onto the
      Reuter  -  189 words
    • Article
      Lock icon American interest rates likely to increase
      519 2 Reuter NEW YORK. Moo. Interest rates are likely to rise as the Federal Reserve Board may be forced to take further steps to slow the surge in United States money supply. Wall Street analysts "The explosive growth in the (monetary) aggregates has to be
      Reuter  -  519 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      306 2 Business Times a money-saving Li •i i .VyC' fc 4 'iVil f\ x If M I J\ .'-A J* < ,/t *<IP**!! V=<|S SSfc I3v d 1 si* *ss jl v A bonus offer for all their advertisers Effective from now to September 30,1977 We have great news for all
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      17 2 "MC. OZonCWV/.SCRvjHCVW uND€.f?rocrr 3f? m 3W if. a JL KMOU) UKfUfeY BOMti? "*«y sria MP*c to prv
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      294 2 THE WEATHER WEATHER report for 24 hour* prior to 7.30 p.m. on May at Singapore airport. Maximum Temperature 51 Associated Humidity or AgSOCldieu nuuuwv -op Minimum Temperature Associated Humidity 'J® Hours of Sunshine Rainfall in Millimetres I Total Rainfall for the Month Total Rainy Days for the Month SINGAPORE 5
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  • THE LONDON SUMMIT
    • Article, Illustration
      Lock icon PARTICIPANTS TO MONITOR EACH OTHER'S PERFORMANCE
      824 3 Reuter LONDON, Mon. The leaders of the Western world's major Industrial powers have entered Into new commitments In agreeing to scrutinise Jointly the success of eacn other's domestic economic policies In achieving stated targets. The US, Japan, Germany, the UK, France, Italy and Canada
      Reuter; Source: AP photo  -  824 words
    • Article
      Lock icon United they stand for a better tomorrow
      600 3 Reuter FOLLOWING is the text of the summit declaration: In two days of intensive discussion at Downing Street, we have agreed on how we can best help to promote the well-being both of our own countries and of others. The world economy has
      Reuter  -  600 words
    • Article
      Lock icon LEADERS SKIRT EXCHANGE RATE ISSUE
      161 3 Reuter THE leaden at the seven major industrialised countries expressed themselves satisfied with the present working of floating exchange rates and avoided seeking commitments from individual countries on future exchange rate policy, senior conference sources said. In a conference marked by unanimity on economic growth,
      Reuter  -  161 words
    • Article
      Lock icon UK asks Japan to import more
      114 3 Reuter BRITAIN has asked Japan to Import more of Its goods and thus help reduce the huge Imbalance of trade between them, British officials said. The plea was made at a 45-mlnute meeting between Prime Ministers James Callaghan and Takeo Fukuda They met shortly
      Reuter  -  114 words
    • Article
      Lock icon Targets for growth and stabilisation
      1116 3 Reuter FOLLOWING Is the partial text of an appendix to the summit declaration: We commit our Governments to targets for growth and stabilisation which vary from country to country but which, taken as a whole, should provide a basis for sustained nonlnflatlonary growth worldwide. Some
      Reuter  -  1,116 words
    • Article
      Lock icon 'Atmosphere of differences' says Tass
      257 3 UPI MOSCOW, Mon. In its first report on the summit, the official Soviet news agency said "an atmosphere of differences" blocked concrete action. A Tass dispatch from London, written before the final summit declaration was Issued on Sunday night, said the seven heads of state
      UPI  -  257 words
    • Article
      Lock icon Accord on common solution to woes
      733 3 NYT THE summit meeting of the world's major noncommunist Industrial nations has brought another step In what all have come to recognise as the necessary reorganisation of the world's economic system. Slowly, painfully, the leading economic powers have begun a stage-by-stage effort to reconstruct
      NYT  -  733 words
    • Article, Illustration
      Lock icon EEC PRESTIGE ISENHANCED AFTER ORDEAL
      909 3 NYT ROY Jenkins, the man who personifies Europe's hopes of unity and Independence from the United States, was for a time treated as a second-class citizen by the Europeans during the summit. Yet Mr. Jenkins, and the commission of the European Common Market, which he
      NYT  -  909 words
    • Article
      Lock icon Giscard's eye opener on Concorde
      212 3 UPI FRENCH President Valery Giscard d'Estalng said yesterday that unless the Anglo-French Concorde airliner was permitted to land in New York, France would draw some conclusions about the "real will" of the United States to improve free trade in the world. In an Interview with
      UPI  -  212 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      40 3 v 3 mmm presents SWISS Buffet Luncheon (May 7th to June 3rd) noon to 2.30 pm at S 15.00 per person plus 10% service charge 3% govt ta* r V V-. ►T4 iS fk m m in*- V l m
      40 words
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  • COMPANY MEETINGS
  • Article
    DIVIDENDS ANNOUNCED
    623 4 Currant payment Ex Date Dale payable Total far the year Total fcr previous year Central Sugar* Aokam Tin Malayan Tin Sthn. Malayan Tin D.B.8. Dun lop Estate* King's Hotel Malayan Cable* S. Steamahip EmooH Eaao Praf. Perlia Plant Kuchai Sel. Properties National Iron Dunloplnd. K.Kella* Tin Ajinomoto Intraco
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  • LATEST RESULTS
    • Article
      LEONG HUAT INDUSTRIES
      43 4 Unaudited lou $862,078 (loss, $1.19 million) for the year ended Dec 31. 1976. Extraordinary expenses nil (94.939), prior yew- tax adjustment 1150,633 ($152). giving a net attributable loss of 91.01 million (loss, $1.19 million). Retained profit left 9791,370 (91.90 million).
      43 words
  • Article
    Kulim (M)
    35 4 THE listing of Kulim Malaysia on tne London Stock Exchange has been cancelled at the company's request. Dealings will be allowed under rule 163(1) (E) which recognises securities dealt on overseas stock exchanges.
    35 words
  • Article
    Veneer Products
    46 4 VENEER Products has obtained a court order to wind up Its subsidiary, Veneer Products Wood Laminates and Parquet, which has been placed In receivership since December 1075. VPWLP was placed under receivership by the Bank of America (Singapore) for failure to repay Its overdraft.
    46 words
  • Article
    Lean times ahead for Sembawang Shipyard
    1035 4 LEAN times are ahead for Sembawang Shipyard at least until early 1080s when the excess in the tanker market should be corrected. "As long as this massive out of balance in tanker tonnage exists," says Chairman Mr. Pang Tee Pow in the 1076 annual
    1,035 words
  • Article
    Guthrie Ropel set for a bumper oil palm crop
    521 4 SHORT of a repetition of the double blow from the weather both droughts and floods which hit Its estates last year, Guthrie Ropel Is looking forward to better harvests from both Its rubber and palm oil estates In 1977. Chairman Mr
    521 words
  • Article
    PEOPLE IN BUSINESS
    267 4 INTERNATIONAL Wood Products Limited has announced the appointment of Mr Motohtea Maaatomi and Mr Ronnie Teo Hang Hock as directors of the company. They replace Mr Ginnoeuke Arakawa and Mr Bwth Cheng Skao Shiong. The appointments take effect from May 1. Jack Chla-MPH Limited has announced the
    267 words
  • Article
    UIC signs joint venture
    168 4 UNITED Industrial Corp has signed a Joint venture agreement with Albright and Wilson of the UK to operate UlC's sulphonation plant, presently under construction. UIC says it will hold 55 per cent of the equity of UIC Organlcs, set up to operate the new plant, while
    168 words
  • Article
    UMW(M) slips despite rise in sales
    585 4 DESPITE a 44 per cent Increase In group sales to M 5167.7 million. United Motor Works (Malaysia) Holdings found itself in the red for the year ended Dec 31, 1976. The group suffered a net loss of $700,000 compared with an after tax profit
    585 words
  • Article
    EAI hard hit by fire
    138 4 ELECTRICAL and Allied Industries has reported that the fire, which broke out at Its Petallng Jaya factory on May 2, caused "extensive damage". Chairman Mr. J.W. Lawton says In a telex message to the Stock Exchange of Singapore that the fire totally destroyed- the company's
    138 words
  • Article
    Con Hotels cuts losses
    128 4 CONSOLIDATED Hotels has managed to reduce group accumulated loss to $817,000 at Sept 30, 1976 from $1.80 million a year ago. The reduction In the group deficit was directly attributed to a profit of $1.05 million made by Its subsidiary, Peninsula Hotel. For the year ended
    128 words
  • Article
    Buoyant year at Serendah Rubber
    302 4 NEW Serendah Rubber has reported a thumping 68.5 per cent Increase in pre-tax profit to M 53.31 million for the year ended Dec 31, 1976. The increase In profit was fuelled by rises In rubber price and output and higher oil palm prices. Rubber output
    302 words
  • Article
    Lock icon New theory has economists buzzing
    1003 4  -  DEBATE OVER PROFITABILITY OF US ENTERPRISE By ROBERT MAGNSON NYT A NEW and potentially important debate that may influence government economic policy has erupted in academic circles over the profitability of American enterprise. Economists in and out of the government are discussing a study completed
    NYT  -  1,003 words
  • Article
    Aussie firm keen on having base in KL
    413 4 KUALA LUMPUR: An Australian company participating in an antipollution equipment display here has expressed an Interest In manufacturing the body of its equipment In Malaysia. Mr. Rodger Brearley, product manager of Evans Brothers, said the company is trying to appoint a manufacturing
    413 words
  • Article
    Hotel Negara plan approved
    142 4 SHAREHOLDERS of Hotel Negara have approved their directors' proposals to borrow $5 million from the Industrial and Commercial Bank and to purchase the hotel property for $5.8 million. The company says In a statement that shareholders also approved two other resolutions on the terms of the
    142 words
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  • Article
    Lock icon Earnings up at McDonnell Douglas
    144 5 Reuter ST. LOUIB, Mon. McDonnell Douglas, reported net earnings in the first quarter this year rose to 73 cents a share on sales of U*****.3 million ($811.3 million) from 67 cents a share previously. The absolute net earnings were $28.01 million compared with $25.31 million.
    Reuter  -  144 words
  • Article
    Lock icon Income down at Atlas Mining
    130 5 Reuter MANILA, Mon. Atlas Consolidated Mining and Development, said net income fell eight per cent to 42.43 million pesos on a one per cent Increase in revenue to 220.68 million in the first quarter this year. This gives an equivalent net Income of 6.77 pesos
    Reuter  -  130 words
  • Article
    Siemens falls slightly
    128 5 MUNICH, Mon. Siemens made a group net profit of 255 million marks for the first six months ended March 31, 1977 compared with 258 million marks previously. Wond turnover increased six per cent to 10.9 billion marks. Yield on turnover was 2.3 per cent against 2.6 per
    128 words
  • Article
    Lock icon ATT stock ownership scheme
    95 5 Reuter NEW YORK, Mon. American Telephone and Telegraph said it plans to set up an employee stock ownership plan which would "make most bell system employees share owners of ATT at no cost to them." The company said the plan is based on provisions of the
    Reuter  -  95 words
  • Article
    Lock icon Breakup of Pratt, Rolls plans
    454 5 NYT NEW YORK, Mon. The world's biggest Jet-engine builder, Pratt and Whitney, disclosed yesterday the collapse of plans for a partnership with Britain's Rolls Royce Ltd. In producing the engine it hopes will power the projected new Boeing airliner. The development, which a spokesman for
    NYT  -  454 words
  • Article
    Lock icon Goodyear optimistic
    171 5 Reuter AKRON, Mon. Goodyear Tire and Rubber said record earnings for the full year are <r well within our grasp." The company's previous record for earnings came In 1972 when net totalled U*****.5 million. In 1976 net Income was $122 million. Goodyear said It should easily exceed $6
    Reuter  -  171 words
  • Article
    Lock icon Pearson's outlook bright
    229 5 Reuter LONDON, Mon. S. Pearson and Son chairman Mr. Viscount Cowdray said early results for 1977 show a fromising Increase over 976, and a worthwhile improvement can be expected for the whole year if the trend continued. He said in the annual report the group has ample
    Reuter  -  229 words
  • Article
    Lock icon 3M confident of further growth
    163 5 Reuter ST. PAUL, Minnesota, Mon. Minnesota Mining and Manufacturing reported net earnings In the first quarter this year rose 15 cents a share to 75 cents or US$B6.7 million ($68.9 million) on sales of $935.2 million compared with $827.9 million previously. The net earnings included
    Reuter  -  163 words
  • Article
    Lock icon Higher copper demand
    116 5 Reuter MANILA, Mon. The Private Development Corp of the Philippines (PDCP) said market demand for copper might reach to "what could be considered profitable levels" in late 1977. It said in a study, however, that "while industrial demand is expected to moderately regain strength In 1977, copper
    Reuter  -  116 words
  • Article
    Lock icon Australian Guarantee makes rights issue
    139 5 Reuter SYDNEY, Mon. Australian Guarantee made an audited consolidated operating profit of A 518.86 million on revenue of $181.11 million for the first half-year ended March 31, 1977. Previously, consolidated profit amounted to $12.48 million with revenue at $136.92 million. The profit figure is before
    Reuter  -  139 words
  • Article
    Lock icon Buoyant results at Alcan
    106 5 Reuter MONTREAL, Mon. Net earnings at Alcan Aluminium Jumped to U5535.5 million or 88 cents a share on sales of $735 million in the first quarter this year from $4.5 million (13 cents) on sales of $599 million In the previous quarter. The company said first
    Reuter  -  106 words
  • Article
    Lock icon Toyota Tahara plant
    99 5 Reuter TOKYO, Mon. Toyota Motor said it will start building a new vehicle assembly plant at Tahara in Alchl prefecture, central Japan, next year. It said the first-phase of the plant, giving a production capacity of 10,000 units a month, will be completed around 1980. The plant's
    Reuter  -  99 words
  • Article
    Lock icon BOJ teams move in
    710 5 FOREIGN BANKS IN JAPAN FT TOKYO, Mon. The Bank of Japan, which has long exercised a degree of supervision over the lending policies of Japanese commercial banks, is starting what it calls "consultations" with foreign banks in Tokyo which can and probably will Include advice on
    FT  -  710 words
  • Article
    Lock icon American Standard expects more gains
    153 5 Reuter NEW YORK, Mon. American Standard expects It will be able to attain a significant earnings Increase for the full 19TT year, president Mr. William A. Marquard said. In 1976, the company had share earnings of U853.94 on $1.65 billion In sales. In addition to
    Reuter  -  153 words
  • Article
    Lock icon Slowdown in world car output
    140 5 Reuter OE CARLO, Mon. The rate of Increase In world car production should slow significantly to around three per cent annually following a growth rate of around seven or eight per cent in the 1960's and the temporary recovery of 1976, Industrie Pirelli Spa vicepresident
    Reuter  -  140 words
  • Article
    Lock icon Ford (Aust) to spend A$82m
    212 5 Reuter SYDNEY, Mon. Ford Motor of Australia will spend AsB2 million on building a car assembly plant at the Sydney suburb of Ingleburn, Ford managing director Sir Brian Inglls and New South Wales Premier Wran said In a joint statement. Plant construction will begin later
    Reuter  -  212 words
  • Article
    Lock icon Ashland Oil may invest in Corco
    174 5 Reuter NEW YORK, Mon. Ashland Oil chairman Mr. Orln E. Atkins said Ashland Is considering making a secured Investment of about US$2O million In Commonwealth Oil Refining which is currently about 37 per cent owned by Tesoro Petroleum. Mr. Atkins, speaking to oil analysts,
    Reuter  -  174 words
  • Article
    Lock icon Kraft first quarter hit by Belgium losses
    178 5 Reuter SPRINGFIELD, Mo., Mon. Kraft's first quarter earnings were reduced by about 10 US cents a share by continuing losses at its Namur, Belgium plant, chairman Mr. William O. Beers told the annual meeting. However, after-tax earnings of Kraft's international division showed "a
    Reuter  -  178 words
  • Article
    Wah Kwong Shipping profit increases
    144 5 HONOKONO, Mon. Wah Kwong Shipping and Investment (Hongkong) reported that consolidated net profit rose to HK$74 million in 1976 from $70.9 million In 1975. Net operating profit amounted to $48.1 million compared with $31.5 million. The company said three vessels and the group's 49 per
    144 words
  • Article
    Lock icon Nessus' bid for lAC shares approved
    138 5 Reuter SYDNEY, Mon. The US Federal Reserve has approved the proposed bid by Citicorp unit, Nessus Investment, to acquire the ordinary shares in lAC (Holdings) not already held and all its preference shares, Nessus said in a letter to lAC released here. Nessus will
    Reuter  -  138 words
  • Briefly
    • Article
      Amax
      85 5 NEW YORK. Mon. Amax earnings will level off In 1977, president and chief executive officer Mr. Pierre Gousseland told the annual meeting. In 1970, Amax had primary earnings of $4.34 a share on sales of $1.2 billion. Mr. Oousseland said while 1977 pre-tax earnings would exceed 1976 levels, Income
      85 words
    • Article
      Fujitsu
      63 5 SANTIAGO, Mon. Japan's Fujitsu Firm has won a tender to supply the Chilean state telecommunications company Entel with US$2.B million worth of equipment. An Entel spokesman said the Japanese firm won the contract in competition with 11 foreign firms, but he gave no details. He said the credit for
      63 words
    • Article
      Audimco
      46 5 SYDNEY Mon.—Audimco said It will complete a horizontal drive off 115 metres into sediments at Its Copeton, New South Wales, diamond prospect by about end-June. The company said this in a supplementary report made because of increased activity In the company's shares over recent weeks.
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    • Article
      Chausson
      33 5 PARIS, Mon.— Ste Des Uslnes Chausson said it obtained an order worth about 20 million francs from Alsthom-Atlantlque for cooling equipment for two electricity power stations to be built in the Philippines.
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    • Article
      Basic Pet.
      90 5 MANILA, Mon. Basic Petroleum and Minerals, said it will resume drilling at Its "Boayan Well" off the central Philippine island of Palawan, later this year. It said the well was abandoned as a dry hole In 1975 after drilling by another firm reached a depth of 2,400 m.
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    • Article
      Republic
      72 5 WASHINGTON, Mon. Republic Steel's newlyannounced 0.8 to 8.8 per cent price Increase on a broad range of products Is too high, said a spokesman for the Council on Wage and Price Stability. "Obviously they needed a price increase, but not that much," he said. One reason the agency feels
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    • Article
      Boeing
      32 5 SEATTLE,; Mon. —Korean Air Lines has ordered a Boeing 747 freighter, Boeing announced. The Jet will be delivered In December 1978 and brings total Jumbo sales to 323, the company said.
      32 words
    • Article
      G.D. France
      69 5 PARIS, Mon. Oa* De France has asked for a state subsidy to help cover losses of 800 million francs It expects to make In 1977, a spokesman said. He said Its deficit will largely stem from higher oil and gas prices at a time when It has had
      69 words
    • Article
      U. Carbide
      71 5 HOUSTON, Mon. Union Carbide chairman Mr. W.S. Sneath, told the annual meeting the company expects a strong recovery in the second and third quarters. He said his expectation is a consequence of accelerating growth In the US economy and market corrections to overcome the effects of the severe
      71 words
    • Article
      AM
      32 5 DETROIT, Mon. American Motors said It will unveil a series of future small cars designed to conserve energy on May 26 in Detroit. The company gave no details about the cars.
      32 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      404 5 Hels theriewdjAdtata new age. Heneeds theencydopaedia for today, Britannica!. 3 The child of today is more involved. IS More aware. And must learn 50% i(SHI more than a child 20 years ago. That's precisely why yesterday's reference works can't really satisfy his needs. He needs a totally new system of
      404 words
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  • Article
    Share Information Service
    2113 6 Gr'a Gr'a N«t 1*77 Laat div Dtv y'M P/E Vol Day Hi<h U> Coaipaay Sal* c'tt C008) Hick Uw SECTION ONE INDUSTRIALS 140 130 Ac ma 141 12. ON 1.1 8.5 7.1 m m 133 127 Acm&A 129 +1 12.0N 1.1 9.3 6.5 10 129 129 204
    2,113 words
  • Article
    Transactions in Singapore
    1181 6 BID and offer prim officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown In brackets In lots of 1000 units unless otherwise specified All Time Settlement Contracts are quoted after the word "Sett." Big Board
    1,181 words
  • Article
    In Kuala Lumpur
    1215 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 AI Mm (1.908). A. CHaa (0.708 0.738). A.M.D. (0.538 0.558). A.P.I.
    1,215 words
  • Article
    Unit trusts
    141 6 sinuATuu umi ivutrr (Miaifm' prices for May 19) The Commerce 1.74 1.04 INCOME BOND UNIT uunu pnce INCOME BOND T 05 1.11 The Saving Fund 0 88 O.M 8'pore Prot Fund .O.M 0.19 8'pore Security Fund 1.45 1.53 8'pore Invest Fund 1.00 1.00 ASIAN UNIT TRUST (Muafin' price*
    141 words
  • Article
    Domestic govt bonds
    160 6 B O T 7 8/8% 19M (100,000) (M*B 99*8) B O T 8 1/2% IMI (IM.OM) (102 SB 103*S) D B S 8 1/2% 1982 (IM.OM) (IMKB 100*8) DBS Converts S 1/2% 1991 (IM.OM) (97*8 M*S) B I B 9% 1982 (100,000) (103*B 104*8) BIBS 1/4% 1983
    160 words
  • Article
    Corporate bonds
    99 6 5 1/2% 1/4/78 (250,000) (101 488 101.55SK4)101.50(4)101.49 5 1/2* 16/4/7* (250,000) (101.458 101.558) 5 1/4* 15/7/78 (250,000) (101.458 101.558) 4 3/4* 1/5/79 (250.000) (100.728 100.758) 7* 1/7/79 250,000) (104.558) 5 1/4* 15/10/79 (250,000) (101.658 101.758) 6 3/4* 15/6/80 (250,000) (103.30B) 3/4* 1/12/89 (250.000) (103.30B) 5* T F 15/4/81
    99 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      138 6 Penguins in Business and Management Understanding Company Financial Statements: J. Parker Management and Motivation: V. Vroom Organization Theory: D. Pugh Creativity in Industry: P. Whitfield Business Strategy: H. Ansoff Management and Production: R. Wild Corporate Strategy: H. Ansoff How to Survive the Slump: G. Bannock Exploration in Management: W. Brown
      138 words
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  • Article
    Shares rise again at SES
    629 7 SPECULATIVE activity was kept vary much alive at the Stock Exchange ef Singapore yesterday as •elected shares continued to poet impnwiivt galas ia acMuch ef the interest was stUl c—teed oa a handful of secood aad third Uxn ia which a general reactioa to laet
    629 words
  • Article
    Stock options
    89 7 STRIKING prices of the stoch options officially listed on the Stock Exchange of Singapore, the periods, hid and offer prices and business done yesterday, with the number of options traded shown is brackets. DBS (June $3.90) (0.03W8 0.08S). (Dec $3.60) (0.338 0.368), Incbcape, (June $2.40) (0.08 0.095) (5)
    89 words
  • Article
    KLSE closes higher
    391 7 SHORT-COVERING activities coupled with fresh speculative buying drove prices higher in active trading at the Kuala Lumpur Stock Market yesterday. The bulk of the buying was concentrated In the second and third liners. At the height of the buying in the afternoon session, values were raised by
    391 words
  • Article
    Lock icon Companies take to self-insurance
    810 7  -  By DOUGLAS W. CRAY NYT LEADING companies In the property and casualty insurance field are finding Increasing rewards in encouraging the seemingly heretical notion of "selfInsurance." The Ina Corporation, American International Group, Marsh and McLennan and other large Insurance companies and brokerage firms are developing new
    NYT  -  810 words
  • OVERSEAS MARKETS
    • Article
      Tokyo
      483 7 TOKYO: Share prices dipped In moderate trading with a waiting sentiment dominating In view of lack of fresh stimuli, after Initially edging higher, dealers said on Monday. The Dow Jones average fell 11.35 to 5,124.21 with volume 100 million shares. The New Index was 382.87, down 0.51. The Initial
      483 words
    • Article
      Hongkong
      363 7 HONGKONG: The market closed firm in fairly active trading on Monday, boosted by a flurry of afternoon buying by local Investors, but with moderate local buying support evident throughout the day, dealers said. The Hang Seng Index rose 2.30 to close at 448.37 points. 9wire Pacific rose HKIS cents
      363 words
    • Article
      Sydney
      375 7 SYDNEY: The market was generally steady, although some Issues fell heavily on profit taking J dealers said on Monday The Sydney All-Ordlnarles Index rose 0.01 to close at 451.74. Pancoatinental fell 20 cents to $13.45 and Audimco down 13 cents to $1.45 after last week's gains. Renisoa, however, rose
      375 words
    • Article
      Manila
      142 7 MANILA: The market drifted lower In depressed turnover, with minings, oils and commercials all slightly easier, dealers said on Monday. Atlas Con B was firm but Baguio Gold, Philez A. San Miguel B and Seafront all lost ground. Unchanged Issues Included Atlas Com A. Meralco, Picof) A. Philez B.
      142 words
    • Article
      Bangkok
      98 7 MAY m Bahu Ada Fibre 196 +3 Bangkok Bank 207 +2 Bangkok Invest 180 -2 Bangkok-Metro-politan Bank Bata 4318 -4 BerllJucker 203 4-13 Charoong Thai Wire 1748 Dumex Duxlt Than! Faber Merlin First Trust Indo-Thal v. Industrial Finance Corp ***** J And JHo 221 >1 Jalaprathan Cement 137 +12
      98 words
  • Article
    Lock icon K. Leibstadt to float 60 mil franc loan
    139 7 Reuter ZURICH, Mon. Kernkraftwerk Leibstadt will float a 00 million franc, five per cent, ten year loan at M per cent on the Swiss market from today to May 13, primary market sources sala. The sources noted that the loan was scheduled
    Reuter  -  139 words
  • Article
    O. Pacific
    38 7 LONDON, Mon. Orion Pacific said It arranged at five year Eurocurrency loan of US$lO million for the Government of FIJI. A group of US, British, Hongkong and Oerman banks provided the facility. Terms were not disclosed.
    38 words
  • Article
    Lock icon Interest rates advance
    763 7  -  By JOHN H. ALLAN NYT INTERKST rates througnout the money and bond markets rose sharply last week for the second week In a row In response to the Federal Reserve's action In raising the federal-funds rate the basic rate of the money market half a percentage point
    NYT  -  763 words
  • Loans
    • Article
      Spain
      63 7 FRANKFURT. Mon. Spain's 500 million mark eight year credit carries a 7V« per cent coupon and has an average life of 6V» years, banking sources said. Redemption will begin in stages after four years. The credit, announced by lead manager Westdeutsche Landesbank Glrozentrale, is being mainly put up by
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    • Article
      ICI Int'l
      31 7 FRANKFURT. Mon. The 150 million mark 6* per cent 10-year Eurobond for ICI International Finance of Hamilton, Bermuda, was priced at par, lead manager Berliner Handelsund Frankfurter Bank said.
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    • Article
      Samir
      80 7 CASABLANCA. Mon. The Morrocan oil refining company Samir will borrow 100 million Saudi Arabian rials at BV4 per cent repayable over five to ten years on the Eurobond market, the Morrocan news agency Map said. It will be the first operation of its kind expressed in Saudi Arabian rials,
      80 words
    • Article
      Q. Hydro
      52 7 LONDON, Mon. Quebec Hydro plans to raise US$5O million through a six-year Eurobond, Credit Suisse White Weld said. Primary bond market sources said the indicated coupon on the issue is 7 3/4 per cent. The bonds, guaranteed by the Province of Quebec, are expected to be priced around
      52 words
    • Article
      BM-RT
      56 7 LONDON, Mon. BM-RT Cs2s million per cent Eurobond due 1982 was priced at par, lead qjanager Union Bank of Switzerland (Securities) said. BM-RT Is a mortgage Investment company and the managing group for the issue comprising Union Bank of Switzerland (Securities), A.E. Ames, Dominion Securities, Harris and Partners, Credit
      56 words
    • Article
      Bank Leu
      69 7 ZURICH. Mon._ Bank Leu said it will float a 30 million franc four per cent convertible bond due endDecember 1982 from May 26 to June 7. Holders of subscription rights on five bearer or registered shares will be allowed to subscribe to one 1,200 franc nominal convertible bond
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    • Article
      Brazil
      49 7 FRANKFURT, Mon. The Federal Republic of Brazil 150 million mark 7% per cent of seven-year Eurobond was priced at par, lead manager Deutsche Bank said. The amount was raised by 50 million marks from 100 million because of strong demand for the issue, it added in a statement.
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    • Article
      EIB
      72 7 LUXEMBOURG. Mon. The European Investment Bank said its US$75 mill.on 20-year bond Issue on the US capital market will carry a nine per cent coupon and Is priced at par. The Issue is being managed by a consortium led by Kuhn, Loeb. The bonds will be redeemed In 15
      72 words
    • Article
      C. Lyonnais
      50 7 PARIS, Mon. The US$75 minion Eurocurrency loan for a FrancoRomanian car project will carry a spread of 1 per cent over the six month London interbank Eurodollar offered rate for the first four years and 1% per cent for the last three, Credit Lyonnais said as lead manager.
      50 words
    • Article
      SB
      61 7 ZURICH, Mon. Schwelzerische Eankgesellschaft said Its convertible Euroloan will be made up of 100,000 bonds of US$l,2OO each nominal, priced at par and with a coupon of 40 K per cent. The conversion premium Is 2,92 per cent and conversion can take place on a one for one basis
      61 words
  • Article
    Lock icon US brokers woo small investors
    566 7 NYT NEW YORK, Mon. Now that Institutional brokerage has become only marginally profitable, the small Investor, recently a Wall Street stepchild is being wooed as never before by leading brokerage firms. But the small Investor Is skeptical. It Is a skepticism arising from the bear
    NYT  -  566 words
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      Page 7 Advertisements Column 1
      346 7 Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the pasar ma/am! Because Penguin books are rather r*WL special. They are mind-stimulating, deeply researched, entertaining in a wholesome way, highly educational lj I fjjj quite unlike the type
      346 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Local and foreign rubber markets
      366 8 OPENING quotations In the Singapore rubber market yesterday were marked up fractionally. Thereafter, prices gained further on some localised buying of June RSS One and some forward demand notably for Jly/Sept 1977 and Jan/Mch 1978, dealers said. Reports of agreement by leaders of the Western
      366 words
    • Article
      Closing prices
      30 8 Rubber: May 9 Singapore: May 196.50 cU (up 2.00 cts) 'Malaysia: June 201.75 cts (up 1.25 cts) Tin: $1,466 (up 18) Official offering: 240 tonnes (up 20 tonnes)
      30 words
    • Article
      Straits tin
      148 8 THE Straits tin price in Penang yesterday was up $8 to $1,465 on an official offering up 20 tonnes to 240 tonnes. In LONDON yesterday, tin showed losses of around £25 for Cash and £27 for Three Months in both contracts. Three Months traded finally In the ring
      148 words
    • Article
      SSR and SMR
      92 8 May Jim R.A.S. (Correal Mlb) (Forward Mia) Buyers Mi Ssllan Bvyws SsUsw (call par kf) S.MR 20 (1-ton Pallet) 194.50 195.SON 199.50 196 SON SMRSO (1-ton Pallet) 192.50 193.50N ltt.50 194 SON M.R.E.L.B. Jul M <Wy SMR5CV ((-ton Pallet) 221.50 223 SON 223.50 £25 SON SMRSL (1-ton
      92 words
    • Article
      Gold
      449 8 IN the Singapore gold market yesterday, the kllobar opened lower at SSI 1,770 and on consistent buying support, the price firmed up to close at $11,795. The loco London gold market followed the same pattern when It opened at $147.50/147.80 and bidded up to close at $147.80/148.20. The London
      449 words
    • Article
      Lead
      83 8 LONDON, Mon. Lead fell about £24.25 for Cash and £22 for Three Months In the morning. Prices gave ground under hedge selling on a basically overwrought market, with short selling and stoploss operations giving further Impetus to the decline. Three Months fell to £380 In the ring compared with
      83 words
    • Article
      Zinc
      52 8 LONDON. Mon. Zinc lost £7 for cash and £8.25 for Three months In the morning. The declines In lead and tin Influenced sentiment although losses were less pronounced because of absence of significant stoploss orders. Threemonths In the momdown to £380 during ring and kerb dealings. Sales were only
      52 words
    • Article
      Silver
      53 8 LONDON, Mon. Silver finished with losses of 1.2 to 0.5 pence In the morning. Prices had held steady In early dealings but selling, prompted by the trend In base metals, caused a sagging trend, dealers said. At the close, ThreeMonths was trading at 281 pence with carries boosting turnover
      53 words
    • Article
      Produce prices
      121 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk 1105 teller*, old drum $110 sellers, new drum $115 sellers Copra: Mixed (loose) UK/Cont $70 buyers. Pepper: Muntok AST A white f.o.b. 100% NLW $397' i sellers. Sarawak white f o b. 98% NWL $377*
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    • Article
      Hongkong comex
      468 8 HONOKONO, Mon. Closing prices on the opening day of the cotton futures market here were broadly in line with expectations, commodity dealers said. The nearest months October and December 1977 generally reflected the expected level of premium over equivalent months on the New York market, after taking into
      468 words
    • Article
      Copper
      121 8 LONDON, Mon. Copper wire bars finished with losses of mostly £6.50 per tonne In the morning. Values sagged at the outset of the pre-market reflecting the New York close but steadied briefly on light covering encouraged by a stocks decline of 325 tonnes to a total of 617,000 tonnes,
      121 words
    • Article
      Sugar
      108 8 LONDON, Mon. Terminal opened steady In the morning after an Initial burst of selling and long liquidation had been well absorbed. At the call, values were £1.15 down to unchanged. Sales totalled 832 lots. Dealers said the rejection of low prices bids by Trinidad on Friday tended to undermine
      108 words
    • Article
      Coffee
      99 8 LONDON, Mon. Futures ended a quiet morning opening session £23 lower to £37 higher on previous close. Volume was 257 lots and the tone "steadier." July gained £35 at £3.108 having recovered from alow of £3.060 upto a high of £3,110. Spot May was a weak spot losing £23.
      99 words
    • Article
      Lock icon Experts fairly optimistic about end to drought
      526 8 NYT AMES (Iowa), Mon. Farm experts in the middle west have now become cautiously optimistic about the chances for an end to the drought In the corn belt. While they are still unwilling to predict an entirely troublefree growing season in the nations
      NYT  -  526 words
    • Article
      Lock icon More soyabean oil for Pakistan
      181 8 Reuter LONDON, Mon. Trade sources said Pakistan purchased an additional 13,000 tonnes of US crude degummed soyabean oil overnight with the aid of US Government export credit facilities for June, and June 15/ July 15 shipments at US$735 per tonne fob New Orleans. This brings
      Reuter  -  181 words
    • Article
      Lock icon KL palm oil output rises
      221 8 Reuter KUALA LUMPUR, Mon. West Malaysian crude palm oil production rose to 100,450 tonnes In February from 84,861 (revised) In January and 86,551 In February 1076, preliminary Statistics Department figures show. The total for whole of 1076 was revised to 1.25 million tonnes from 1.14
      Reuter  -  221 words
    • Article
      Rice
      213 8 BANGKOK, Mon. Indicative prices for rice quoted In Bangkok In US dollars per tonne fob basis Bangkok were: White Rice: 100 per cent let dajs 254 100 per cent 2nd clan 287 100 per cent 3rd clan 202 5 per cent 292 10 per cent 232 15 per cent
      213 words
    • Article
      Lock icon Move to reduce rice target price rejected
      303 8 Reuter WASHINGTON, Mon. The House Agriculture Committee rejected a move to reduce the target price on rice from the level proposed In the farm bill draft it is considering. The vote was 29 to five against an amendment offered by Representative Paul Flndlev,
      Reuter  -  303 words
  • MONEY AND EXCHANGES
    • Article
      Singapore
      457 8 THE US dollar gained substantial grounds yesterday In the Singapore foreign exchange market. Against the Japanese yen, the dollar opened at 277.40 yen and rose gradually to 278.05/11 by noon. It hit the day's high of 278.20/25 at one stage before easing to 277.85/95 after the London market opened.
      457 words
    • Article
      Asian $ rates
      162 8 Asian rates ASIAN currency deposit interbank rates u at cloae on May US Mb Offer n<Sp*t> BM 7 day* 1 mth 2 mths ...Am. 3 mths mths mths 12 mths S 7/1• 5 «/l« 5 11/18 5 13/1« J/18 5/18 5 5/18 5 7/M S 9/1# S 11/16 5 7/>
      162 words
    • Article
      Discount
      6 8 Source: National Discount Co. Ltd.
      6 words
    • Article
      Euro $ rates
      79 8 Euro rates LONDON, Mon. Eurodollar deposit trading was Initially slow, with rates little changed from Friday'# closing forels, dealers said. LONDON Eurodeposlt opening quotes on May US doHars: Call two day* 9 7/16 5 Vie Seven day* fix and notice 5 7/16 3 5/16 One Month 5 6/16 5 7/16
      79 words
    • Article
      London
      253 8 LONDON. Mon. —The dollar scored fairly substantial early advances against other leading currencies In the absence of any summit agreement allowing the stronger currencies to appreciate, dealers said. Against the mark, the dollar moved to 2.3570/80 from Friday's close of 2.3495/05 while the Swiss franc eased to 2.5290/00 from
      253 words
    • Article
      Tokyo
      167 8 TOKYO, Mon. The yen weakened to 278.15 to the dollar for overnight delivery, after opening at 277.30 and compared with 276.40 at Friday's close. Dealers said the dollar's recovery followed buying by banks to meet Import settlement needs reflecting relief in the market that the London summit did not
      167 words
    • Article
      Hongkong
      151 8 HONGKONG, Mon. The mark fell to 2.3505/75 ag&lnst the US dollar from New York's 2.3470/80 Friday close and the yen to 278.10/20 from 276.78/93 on covering of dollar positions following the London summit, dealers said. They said the absence of any pressure on or commitment from West Germany and
      151 words
    • Article
      Minimum lending rates (in %)
      59 8 Minimum lending rates (in ACBC 8* First Chicago fi*4 Algemene Bank 6* Citibank 6V, Bangkok Bank 7 HSBC 7 Bank of America e* Indosuez 6* Bank of China ...7 Malayan Banking 6*« Bank of Tokyo Mitsui Bank «*4 Bank Negara Indonesia 7 OCBC OUB fi*« Chartered Bank UCB 7 Chase
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    • Article
      Australia/'NZ
      48 8 AUSTRALIA/ NZ exchanges quoted on May 9 Australia: Sterling 0.6466/0.6396 US dollar 1.1074/1.1026 Ninety-day air mall buying rates: Sterling 0.6649 US dollars 1.1327 Ninety-day forward buying rates: Sterling 0.6451 US dollars 1.0957 New Zealand: Sterling 0.5604/0.5573 US dollar 0.9676/0.9576 Ninety-day forward rate: Sterling 0.5795 US dollar 0.9856
      48 words
    • Article
      Frankfurt
      32 8 FRANKFURT exchanges opening quotes on May 9 US 2.3570/80 Can 2.2435/55 UK 4.053/058 Neth 96.13/23 Swltz 93.05/15 Italy 2.652/662 France 47.55/65 Norw 44.45/51 Belg com 6.523/533 Belg fin 6.521/532 Japan 0.8474/84
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    • Article
      Eurobond prices
      300 8 LONDON, Mon. Straight dollar bonds eased Vi point in active trading, dealers said. LONDON Eurobond prices quoted oil May 9 Strain Iks Bid Odsr Austria 8 J 4 yo 101 ior. Bell Canada 8*« 86 104 V. 105 BFCF. 8*4 83 101* 10^*. Brazil 9 V. 84 9714
      300 words
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      Page 8 Advertisements Column 1
      206 8 Bu SINGAPORE iness COMMUNICATIONS Underlining an urgent need: While the Telecommunications Authority of Singapore is busily expanding services to link up with the world, the quality of domestic service still needs improvement. Crossing over to computers: Telecoms is employing computercontrolled equipment to meet increasing demand and usage of facilities. PROPERTY
      206 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Airports where pilots hate to go
      948 9  -  International airline pilots have a list of 26 airports which they consider dangerous. They still have to fly there, but they are glad that the public are beginning to back them up in demanding better safety standards. in London I —By ARTHUR SANDLES FT
      FT  -  948 words
    • Article
      Rebates for petrol savers
      82 9 CHEMICAL Bank has launched another programme aimed at energy conservation in the United States. It is offering rebates of US$5O to $150 (SSI2O to SS36O) on loans of over U552,500 for the purchase of new cars that rate high in petrol conservation. The size of the
      82 words
    • Article
      Lock icon AMC may give up car business
      428 9 AP DETROIT, Mon. American Motors Corporation Is losing Its struggle to compete successfully with the three major car manufacturers In the United States. The consensus among 24 car Industry Insiders and analysts Interviewed by the Associated Press is that AMC is likely to abandon
      AP  -  428 words
    • Article
      Luxury cruise to Pulau Tioman
      152 9 LUXURY cruises are now possible for those who do not own yachts. Travelmore, agents for Mahkota Marine, now offer luxury motor yacht vacations around Pulau Tioman. Departure Is from Merslng In Johore and the recommended Itinerary for a three-day charter includes trips to Telok Salang,
      152 words
    • Article, Illustration
      Lock icon TALKS ON U.S. DOCK WORKERS DISPUTE START TODAY
      562 9 NEW YORK, Monday NYT NEW YORK, Mon. The International Longshoremen's Association and the Council of North Atlantic Shipping Associations open contract talks tomorrow, but both sides Indicate that the key to their success depends, In part of least, on government actions that
      NYT  -  562 words
    • Article, Illustration
      IN PORT
      411 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Cherry VUJa (B. Barge) (1500 tbc) 48 Christian Maersk (0000 after Wuxl) (Class I on board) 1/2 Elllnls (1200 31/32 Ende (1700) 24 Fortune Runner (3FYQ) (1200) (Subject freeboard) 19 Joan D'arc (1500) 40 King River (0800) 23 Pebble Beach (1200) (Subject freeboard)
      411 words
    • Article, Illustration
      Lock icon NOTJUST ANOTHER ELECTRIC VEHICLE
      54 9 THIS is not just another electric vehicle. The Silent Rider electric bus rolls quietly down Chicago's State Street during the opening of the International Electric Vehicle Exposition recently. A number of the buses, each of which seats 50' passengers, are in operation in Manchester, England. UPI
      Source: UPI picture  -  54 words
    • Article
      Zulia in today
      71 9 CONTINUOUS rain at Port Kelang has delayed the arrival of the Zulla, which was to have arrived on Sunday. Instead, the ship arrives this morning. A reception will be held on board the ship tomorrow. It will be at PSA Godown No. 3/4. The Zulla Is on
      71 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      580 9 ARRIVALS Sorvioo fioct 1 Operator Number Time Prom CAL CI 331 0040 TPE/HKO/KUL TMA IL3Q3B 0215 BEY/DXB/ BOM/KUL MAS MH682 0610 KCH PAA PA847 0830 SFO/HNL/OUM SIA SQ211 1015 HLP GIA Q A 980 1030 HLP OIA QA908 1100 MES SIA SQ240 1140 MES RBA BI325 1155
      580 words
    • Article
      An Hsing Navigation
      186 9 AN HSING Navigation was incorporated in Taiwan and began sailings from Singapore about two years ago. The line operates a Singapore to West Asia service every week. The line operates primarily to noncongested ports in West Asia. Congestion in the Persian Gulf, for example, according to its
      186 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      80 9 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. Ltd.
      80 words
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  • Article
    Lock icon THE AUSTRALIAN DISEASE...
    1067 10  -  THE prolonged slump in Australia has aroused fears that the country has the English sickness, a reference to Britain's chronic economic malaise. Now it has become the Australian disease, says an Australian banker. in Melbourne- r B y FOX BUTTERFIELD NYT AUSTRALIANS, who have long thought of
    NYT  -  1,067 words
  • Article, Illustration
    The fourmember committee
    72 10 The four-member committee formed to work out the details of the Code of Conduct for component parties of the National Front comprises (from left) Encik Ghafar Baba, the leader; Datuk Haji Mohamed Asri; Datuk Lee San Choon; and Tan Sri V. Manickavasagam. The committee will meet in
    72 words
  • Article
    Cutting down the tension among the Front parties
    1401 10  -  V.K. CHIN THE PROPOSED code of conduct for component parties of the National Front should help to reduce the tension faced by some of its members. Since its inception several years ago, the Front is like a club without rules and It
    1,401 words
  • Article
    Lock icon Some Europeans are less equal than others...
    829 10  -  THE avowed aim of the European Economic Community has been to smooth out differences between the member nations. But there are still high peaks and murky valleys when European earnings are compared -By PETER RIDDELL FT ONE OF the longer-term alms of the
    FT  -  829 words
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  • Article
    Lock icon Taiwan acts to cut Japan imports
    147 11 Reuter HONOKONQ, Mon. Taiwan's Board of Foreign Trade said local Importers will be allowed to Import 21 categories of electronic calculators, audio equipment and vehicles only from the US and European countries, the Central News Agency reported. It quoted a board spokesman as saying
    Reuter  -  147 words
  • Article
    Lock icon 'Whopping textile trade surplus'
    104 11 Reuter BANGKOK, Mon. Thailand Is expected to have surplus of US$lOO million (***** million) on trade in textiles for 1976, compared with a surplus of $23.3 million in 1975 and a deficit of $16.8 million In 1974, trade sources said. Customs Department figures showed Thai textile
    Reuter  -  104 words
  • Article
    Lock icon TAXPAYER REBATE
    85 11 Reuter TOKYO, Mon. Japanese taxpayers and their depen- dents will get a modest tax j rebate this summer, sources close to the National Tax Administration said. Some 40 million people i who paid Income tax last i year will have a rebate of 6,000 yen (Sss3) each plus
    Reuter  -  85 words
  • Article
    Lock icon WHAT THE JAPANESE THINK OF THE SUMMIT
    370 11 UPI TOKYO, Mon. Japan today showed mixed reactions to the summit conference of Industrial nations Just ended in London. Mr. Toshlwo Doko, head of Japan's prestigious Federation of Economic Organisations (Keldanren), praised the participating nations for resolving to work together for a world
    UPI  -  370 words
  • Article
    Lock icon Outlays by private sector to fall
    300 11 Reuter TOKYO, Mon. Japan's private sector plant and equipment Investment In the first half of fiscal 1977 will fall by 2.2 per cent to a seasonally adjusted 6.13 trillion yen (5554.5 billion) compared with the second half of fiscal 1976, when It rose by
    Reuter  -  300 words
  • Article
    Dearer freight rate by rail?
    305 11 KUALA LUMPUR, Mon. Malayan Railway might reassess its freight charges in view of increasing cost of operation, especially with the Implementation of the new salary scale under the Caolnet report, its marketing director, Mr. T. Antolne, said today. He said that though Its revenue had
    305 words
  • Article
    BANK OF INDIA SUES
    129 11 BANK of India sued K. Venkataekalam. formerl) trading as V.B.S. Brothers, yesterday for >184,594.47, allegedly being advances to the defendant. Also filed at the High Court was a $100,000 suit by another bank, Habib Bank Ltd. against Tan Keam Song. Two writs were filed against Ong
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  • Article
    Lock icon Oil to play key role in China's goal
    511 11 Reuter PEKING, Mon. China has disclosed a few more details of Its long-term plan to become an economic superpower. As expected oil is to play a key role. The revelations have come in speeches by VicePremier Yu Chlu-Li and Petroleum Minister Kang
    Reuter  -  511 words
  • Article
    Bouquet for KL contract labour force
    134 11 KUALA LUMPUR, Mon. Malaysia's contract labour force has reached the level of sophistication comparable to that of any other developed country. This is the opinion of Mr. N. Jurowich, a senior director of one of the world's leading civil engineering contractors, Zueblln AO of
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  • Article, Illustration
    Chupa chups go for ads in a big way
    311 11 WHILE most marketing people will Insist on total or semi-comprehensive distribution before the advertising campaign breaks, one practitioner demonstrated to some 150 wholesalers last Saturday that advertising will create the distribution channel for his product. He is Mr. John Harper of
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  • Article
    'Hire, not fire to get balance'
    177 11 KUALA LUMPUR, Mon. Racial balance In employment should be achieved by recruiting workers to fill vacancies and not by dismissing those from certain communtles who were already working, Labour and Manpower Minister, Datuk Lee San Choon said today. He said many employers, particularly the
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  • Article
    Soxal to invest $3m to develop site
    152 11 SOXAL Intends to invest $3 million over the next few years to develop a recentlyacquired site in Jalan Buroh. Jurong. next to Its existing plant to centralise its special gases and gas mixture facilities. A company spokesman told Business Times that this will
    152 words
  • Article, Illustration
    Elliott's passing is a loss to NTUC
    589 11 PROFESSOR Thomas Harold Elliott, who died on Sunday of a heart attack, made Important contributions to the cause of both medicine and labour since his arrival In Singapore some 27 years ago from South Africa. Yesterday, his contributions were acknowledged by the Prime
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  • Article
    Lock icon Thais kill Khmer 'cattle rustlers' in border clash
    206 11 Reuter BANGKOK. Mon. At least 10 Cambodian soldiers were killed In a clash with Thai border patrol police after they crossed the border on a cattle-rustling mission, Thai newspapers reported today. A border patrol police spokesman here confirmed that the clash took
    Reuter  -  206 words
  • Article
    Lock icon Helping hand for Thai farmers
    152 11 Reuter BANGKOK. Mon. The Thai government will boost the agricultural cooperative system to help farmers and will also plant more forests, according to Prime Minister Thanln Kraivlchien. In a broadcast speech last night, the Prime Minister said farmers 80 per cent of Thailand's 42 million
    Reuter  -  152 words
  • Article
    Lock icon Two snags in the way of normal US-Hanoi ties
    475 11 UPI BANGKOK, Mon. To wrap up the diplomatic package of normal relations between the United States and Vietnam, only two major loose ends remain to be tied up. They are the same two hanging loose when US Assistant Secretary of State
    UPI  -  475 words
  • Article
    Lock icon How US-Pak ties soured
    357 11 NYT ISLAMABAD, Mon. Differences over Pakistan's potential role as a nuclear nation apparently lie at the heart of the embittered relations with the United States. These broke Into the open recently when Prime Minister Zulflkar All Bhutto'accused Washington of financing his opponents. The government press has
    NYT  -  357 words
  • Article
    DFC bond oversubscribed
    117 11 CITICORP International, 1 lead managers for the US$2O million bond Issue for the Development Finance Corporation of New Zealand, announced that the Issue has been oversubscribed and that It has been Increased to US$25 million. The notes, due 1984, were offered principally In the Eurobond market but
    117 words
  • Article
    Sabah's $30m hotel
    100 11 SABAH'S first international hotel will be officially opened tomorrow by the Deputy Prime Minister of Malaysia, Dr. Mahathir Mohamad. Costing more than Ms3o million, Kinabalu International Hotel claims to be the largest project of its kind in East Malaysia and perhaps the largest buml-putra-owned hotel In the
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  • Article
    SISIR TO HOLD COURSE
    96 11 THE Singapore Institute of Standards and Industrial Research (SISIR) will conduct a course on industrial radiography with emphasis on evaluation of welds from June 20 to July 27 for those wishing to improve their acquired knowledge of Industrial radiographic practice. The course, to be conducted by
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      3 11 SEE PAGE 3
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      179 11 APPOINTMENTS ACCOUNTANTMANUFACTURING A manufacturing subsidiary of a wellestablished group has a vacancy for the above post. The selected candidate will report directly to the management and be responsible for secretarial matters, preparation of financial accounts and management information reports. Excellent opportunities exist for the right candidate to be promoted to
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      172 11 [I ECONOMIC DEVELOPMENT BOARD SENIOR OFFICERS The Economic Development Board would like to invite applications for the above appointments. With an international network of overseas centres in 10 major cities, EDB has the primary task of developing industries in Singapore. This includes policy planning, promotion of modern industries and projects
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  • Article
    Lock icon Evolution of US policy seen in fund accord
    294 12 UPI LONDON, Mbn. Yesterday's economic summit agreement on aid to developing countries marks an important evolution in American policy. For the first time, the United States formally endorsed the idea if only In principle of a common fund to stabilise the earnings
    UPI  -  294 words
  • Article
    Reinsure corp: Iran first to sign pact
    240 12 IRAN has become the first country to sign a United Nations sponsored agreement to establish an Asian Re-Insurance Corporation, according to Escap (United Nations Economic and Social Commission for Asia and the Pacific. The agreement, drawn up in December last year under the
    240 words
  • Article
    Lock icon SHOE TALKS RESUME
    95 12 UPI SEOUL, Mon. American and South Korean officials resumed talks today on export regulations on Korean made non rubber shoes to the United States but the negotiations deadlocked, Korean government sources said. The sources said the talks, scheduled to continue until tomorrow, failed to make headway as
    UPI  -  95 words
  • Article
    LONDON STOCKS
    717 12 LONDON. Mon. The stock market was mixed in light trading and at 3.00 pm the Financial Times index was up two points at 452.1 the highest since June 1973. Oovernment bonds rallied from lower levels after the wholesale price index details but softened subsequently to close around 3
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  • Article
    More specialised berths in the pipeline says PSA
    743 12 THE Port of Singapore Authority will provide more specialised berths for particular industries but will remain flexible to the needs of port users as part of its plan to upgrade its services continually, said Mr. BilUe Cheng, the PSA director of operations.
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  • Article
    YARD TEAM ON STUDY TOUR
    154 12 THE 17-member team from Sembawang Shipyard, which leaves today for a three-week tour of Japan, will conduct a series of seminars for workers in their yard on their return to impart what they have learnt. Sent by the productivity committee in Sembawang Shipyard, the team
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  • Article
    Singapore to host World Trade Centres meeting
    682 12 SINGAPORE will host the prestigious World Trade Centres Association's (WTCA) Bth general assembly this year. This is the first time for Singapore and It win be opened by Mr. Llm Kim San, the Minister for National Development. The five-day assembly, which begins on
    682 words
  • Article
    Call to form consultants' body
    161 12 KUALA LUMPUR, Mon. Deputy Prime Minister Dr. Mahathir Mohamed called today for the formation of a national association of management consultants and for collaboration, wherever possible, between public and private sector consultants to ensure speedy and effective Implementation of the Third Malaysia Plan, while at
    161 words
  • Article
    MB STRIKERS GET MAY 15 DEADLINE
    610 12 THE Metal Box management has given Its 280 striking workers until May 15 to report for work. The general manager, Mr. Lim Hong Keat, said that after that day the management will step up Its recruitment drive. Since the strike began on April 4,
    610 words
  • Article
    Airlines call off flights to Australia
    238 12 MOST major airline commbUi have cancelled all frights to Australia because of the air traffic controllers' strike there. Singapore International Airlines (SIA) has cancelled all flights, and all aircraft hound for Australia are waiting in Singapore for further news of ths situation. An SIA
    238 words
  • Article
    Lock icon Carter hits out at Republic Steel hike
    112 12 UPI LONDON, Mon. President Qarter feels that the eight per cent increase announced by Republic Steel on Saturday Is of a size "unwarranted, particularly In the context of the nation's economy," a White House spokesman said yesterday. Press secretary Jody Powell said Mr.
    UPI  -  112 words
  • Article
    Lock icon 'Opec surplus will drop to $20 bit'
    374 12 Reuter DUEBBELDORF, Mon. Balance of payments surpluses posted by the Organisation of Petroleum Exporting Countries (Opec) should fall to UBBB billion (3819.68 billion) by 1980 from an expected 832 billion In 1977 and around 836 billion last year, Westdeutsche Landesbank Olrozentrale said In
    Reuter  -  374 words
  • Article
    Iran won't use oil as political weapon
    157 12 IRAN will not use its oil as a political weapon, according to Dr. Abbas Amlrie, executive director of the Institute for International Political and Economic Studies in Teheran. In an Interview with the Business Times yesterday. Dr. Amlrie, however, warned that there are
    157 words
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    Lock icon U.S. LOOKING INTO ALASKA OIL PRICE
    329 12 AP WASHINGTON, Mon. —With oil expected to begin flowing through the Alaskan pipeline this summer, the US Congress Is taking a look at pricing policies that will help determine how much the oil is going to cost. US federal energy administrator John O Leary
    AP  -  329 words
  • Article
    Lock icon Romulo keeps Hussein posted on Muslim issue
    241 12 Reuter KUALA LUMPUR, Mon. Philippine Foreign Secretary Carlos Romulo left here today for Colombo after a four-hour flying visit during which he held talks with Malaysian Prime Minister Datuk Hussein Onn about the problem of the Muslim rebellion in the southern Philippines. Mr.
    Reuter  -  241 words
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      5 12 See Pi|M 3 and 11
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      194 12 SEE PAGE 4 Give us a man fora monttiwe'll give him a language for life ■■■igUQ 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
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