The Business Times, 11 May 1977

Microfilm: NL9307
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    8 1 BUSINESS TIMES M.C.(P) 300/1/77 WEDNESDAY, MAY 11,1077 50CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Java clashes
      35 1 Reuter JAKARTA, Tues. Clashes between members of the Muslim Party (PPP) and the ruling functional groups (Golkar) were today reported to be continuing lh several places In Java after the general elections. Reuter
      Reuter  -  35 words
    • Article
      Lock icon More Canadians jobless
      47 1 Reuter OTTAWA, Tues. Unemployment In Canada rose to 8.3 per cent of. the work force In April from B.l* per cent in March, seasonally adjusted, Statistics Canada said today. The government statistical agency said there were' 014,000 Canadians out of work last month. Reuter.
      Reuter  -  47 words
    • Article
      Lock icon 'Don't mix the two'
      70 1 UPI TOKYO, Tues. Japan objects to New Zealand's combining import and fishing rights Issues In a dispute arising between the two nations, the Foreign Ministry said today. The Ministry was referring to New Zealand Prime Minister Robert Muldoon's statement today that no Japanese fishing vessels will
      UPI  -  70 words
    • Article
      Lock icon Moro talks anytime
      44 1 Reuter MANILA, Tues. The Philippines stands ready to reopen the collapsed peace talks with the Muslim rebel fAoro National Liberation Front (MNLF) to try to get a peaceful settlement of the five-year-old rebellion, Under-Secretary for Defence Carmelo Barbero said today. Reuter.
      Reuter  -  44 words
    • Article
      Workers' Party pledge
      62 1 WORKERS' Party candidate for the Radln Mas by-electlon, Mr. J.B. Jeyaretnam, last night pledged that if elected, he would seek to protect workers' right by Introducing a bill In Parliament to amend the Employment Act. Speaking at a WP rally at Jalan Buklt Merah, he said the
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    • Article
      Lock icon Indian elections
      65 1 Reuter NEW DELHI, Tues. Legislative assembly elections will be held In 10 Indian states between June 10 and 14, according to a schedule finalised today by the National Election Commission. Polling will take place in the states of Uttar Pradesh, Bihar, Madhya Pradesh, Rajastna/i, West Bengal, Tamil Nadu,
      Reuter  -  65 words
    • Article
      Lock icon Straits tin down
      36 1 Reuter KUALA LUMPUR, Tues. The Straits tin price in Penang dropped Msls per plcul to $1,450, $125 above the International Tin Agreement celling, dealers said. Turnover rose to 265 tonnes from 240 yesterday.
      Reuter  -  36 words
    • Article
      London stocks higher
      29 1 LONDON, Tues. The stock market moved higher on institutional demand In fairly active trading. At 3.00 p.m., the Financial Times Index was up 8.8 at 463.0.
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    • Article
      Lock icon Dow Jones
      71 1 UPI NEW YORK, Tues. Stocks were higher early today in moderately active trading of New York Stock Exchange Issues. The Dow Jones Industrial average, which lost 3.65 points yesterday, was ahead 2.2* points to 935.38 shortly before the first hour of trading. The average had lost 10.35 points
      UPI  -  71 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      176 1 TRADING at the Stock Exchange of Singapore turned erratic yeeterday and ended on a mixed note. Speculative interest was centred on the lower-priced issues which ended in plus territory. Reflecting the mixed tone, the Business Times and the Straits Times Industrial indices ended practically unchanged at 267.70
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    • Article
      In Kuala Lumpur
      106 1 Rises Most ictivc New Serendah 2.40 .20 General Lumber 1.048.006 Matsushita 2.20 .16 Pacific Dev. 473.000 Pacific Dev. 1.25 +.14 Central Sugars 287.000 API 0.64 +.11 Central Securities 110,600 Boris SEA 0M .06 Total Turnover: 3.38 M F. Cables C. Sugars 0.94 2.29 +.06 +.06 Total Value:
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  • Article
    Narodny grows by leaps and bounds
    1334 1  -  BIGGEST HERE IN TERMS OF ASSETS »r QUEK PECK LIM THE Moscow Narodny Bonk (MNB) Is perhaps as widely known today as any of our large local banks with all the publicity that It has received from the press. Very few people, however, know
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  • Article
    Lock icon Hongkong team goes shopping in London
    383 1 UPI LONDON, Tues. A group of leading Hongkong businessmen arrived In London today to create new buying opportunities for HongI kong In Britain. The group has been organised by x the Hongkong General Chamber of Commerce, with assistance from the Hongkong Shipowners Association and
    UPI  -  383 words
  • Article
    Lock icon Summit speculators lost a fortune
    1174 1 Reuter NEW YORK, Tues. Tfte London economic summit's failure to announce a change In currency values as a means of stimulating the economies of Britain, France, Italy and Canada cost currency speculators millions of dollars yesterday. The speculators had betted In recent weeks that the
    Reuter  -  1,174 words
  • Article
    Rakyat lendings will hit $40 mil
    146 1 KUALA LUMPUR. Tubs. Bank Raima is especied to disburse about ft£Mo mlllloQ worth of loons this year, tu vice-president. Datuk Suleiman Nlnom Shah, sold today. The bank bad already disbursed |0 million during the first four months of the year compared with only $13
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  • Article
    Backing for Carter
    71 1 LONDON, Tues. Leaders of the Atlantic Alliance rained today to an appeal by President Carter to boost their defences arid report back to him at Washington summit nest spring. Official sources said the initial reaction by government heads at the opening session of a Nato summit in
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  • Article
    Air strike to go on as crisis talks collapse
    309 1 t MELBOURNE. Tues. t —Australia's rear-day strike by $00 air traffic conf trailer* will coortinue after i the breakdown of r emergency talks tonight between strike leaders and i government officials. The talks, called by the i president of the National
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  • Article
    Pernas controls 19pc of Sime Darby equity
    259 1 THE Malaysian government, through Pernas, Its national corporation is now In control of nearly one f 1 fti\ of Slme Darby Holdings' equity. In a release to the Kuala Lumpur and Singapore Stock Exchanges yesterday, Slme's secretary, J.D.F. Drum, said that he has
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  • Article
    Lock icon Move, to regulate foreign banks
    194 1 Reuter NEW YORK, Tues. The chairman of the House of Representatives Banking Committee, Mr. Henry Reuss, said he will shortly Introduce a bill regulating foreign banking operations in the US. He told a financial conference here the prime purpose of the legislation Is to authorise
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  • Article
    Lock icon French nationwide walkout on May 24
    137 1 UPI PARIS, Tiles. France's labour unions today called a nationwide fenval strike for May 24 to both public utilities and priyate Industry to protest the austerity policies of President Valery discard d'Estatng and his Prime Minister, Raymond Barre. Plans for the 24-hour walkout coincided
    UPI  -  137 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
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      Page 1 Advertisements Column 2
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      0 1 =:}[\\;'=>-+~>/`]$_$@;|:%'"&`&[
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      246 words
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  • OVERSEAS
    • Article
      Lock icon Argentina relaxes control on foreign exchange
      327 2 AP BUENOS AIRES, Tues. For the first time In seven years, the military government virtually freed the Argentine foreign exchange market yesterday apparently in a fresh effort to wipe out the black market. The government-run central bank ordered the action in a statement for
      AP  -  327 words
    • Article
      Lock icon Alaskan oil for Japan under study
      569 2 CARTER TO DECIDE IN A MONTH Reuter WABHINOTON, Tues. President Carter will probably decide within a month whether the United States should ship some of its new Alaskan oil to Japan, the US federal energy administrator said today. Mr. John O'Leary said he was
      Reuter  -  569 words
    • Article
      Lock icon Dearer steel, dearer cars?
      403 2 Reuter NEW YORK. Tues. The latest round of steel price Increases seems certain to put pressure on new car prices for the 1978 model year starting in September, industry analysts and sources in Detroit said yesterday. They added that they expected the big three car makers
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    • Article
      Lock icon SEOUL STANDBY CREDIT
      72 2 Reuter WASHINGTON, Tues. The International Monetary Fund said it has approved a 20 million special drawing right standby arrangement for South Korea for the remainder of this year. The IMF said it has approved an economic pro- gramme submitted by South Korea In support of the credit.
      Reuter  -  72 words
    • Article
      Lock icon Saudis' move to boost crude production
      283 2 UPI BEIRUT, Tom. Saudi Arabia, la Its drive to beeet oil production, will activate twa dormaat iftbwi oil fields in J olr, the Middle East Ems—it Surrey said yesterday- The Saudis, leaked la a pries war with 11 athar men bars of the Orcaaiaatks
      UPI  -  283 words
    • Article
      Lock icon Lebanon's first post-war budget
      123 2 AP NICOSIA, Tues. The Lebanese Cabinet yesterday approved Lebanon's first post-civil war state budget of 1.27 billion Lebanese pounds, (3sl billion), Beirut Radio reported. The radio said the amount represents only routine government expenditure in 1977. A separate, two-stage spending programme will be announced within a
      AP  -  123 words
    • Article
      Lock icon Now to make the promises work
      801 2 NYT LONDON, Tues. There have been three economic summit meetings, and after each one the leader* of the seven Industrialised democracies gathered In some elegant hall to proclaim the conference a striking success. For the latest one, which wound up here on Sunday, they
      NYT  -  801 words
    • Article
      Lock icon Miners seek right to strike clause
      352 2 NYT MOROANTOWN, (West Virginia), Tues. United Mine Workers president Arnold Miller yesterday said he Is pushing for a new clause in the nationwide coal contract to be negotiated this December that would give miners the right to strike over Issues at the local level.
      NYT  -  352 words
    • Article
      Lock icon No fishing till farm goods win access
      328 2 UPI CHRISTCHURCH, Tues. Prime Minister Robert Muldoon said today Japan had been Informed that no Japanese fishing vessels will be allowed Into New Zealand's 320 km economic sone until the Tokyo Government approves regular access for this country's farm products to Japan. Speaking
      UPI  -  328 words
    • Article
      Lock icon They continue to air their differences
      227 2 UPI TOKYO, Tues. Japan and the United States opened their third round of civil aviation talks here yesterday with continued differences of views on both sides, Foreign Ministry sources said. Japanese delegate Toahlo Yamazakt said In an opening address at the Foreign Ministry that
      UPI  -  227 words
    • Article
      Lock icon SYNTHETIC RUBBER LINKED TO OIL PRICE
      95 2 Reuter PARIS, Tues. Delegates at the meeting of the International Institute of Synethetlc Rubber Producers In Monte Carlo said they consider the world oil prtef, rather than the price of natural rubber, to be the determining base for their Industry's feasibility. The synthetic rubber
      Reuter  -  95 words
    • Article
      China may buy wheat rumours
      171 2 WASHINGTON. Tuea. .Agriculture Secretary Bob 'Bergland said yesterday he is sure there Is "some truth" In recent trade rumours that China Is about to buy American cotton after a long absence from the US market. Mr. Bergland added In a meeting with reporters, however, that
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    • Article
      Lock icon Nixon aid memo to Hanoi will be made public
      239 2 Reuter WASHINGTON, Tues. The chief US negotiator at renewed talks with Vietnam said today steps are being taken to make public a 1973 memo from former President Richard Nixon in which he is said to have pledged U553.25 billion (858.12 billion)
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    • Article
      Lock icon EEC picks three to launch Eurobond
      170 2 Reuter LONDON, Tues. Deutsche Bank, Banque de Paris et Despays-Bas and Credit Suisse White Weld Ltd have been chosen by the European Economic Community to raise a US$5OO million (551.23 billion) bond In the Euromarkets shortly, well-placed bankers here said. The issue will be
      Reuter  -  170 words
    • Article
      Lock icon Arab boycott can cost New Jersey $1,200 million and 25,000 jobs
      386 3 UPI TRENTON, (New Jersey), Tues. New Jersey could lose US$5OO million (551.200 million) In export business and 25,000 Jobs If Governor Brendan Byrne signs Into law a Bill banning firms in the state from cooperating with the Arab boycott
      UPI  -  386 words
    • Article
      Lock icon The Hunt case: Judge's ruling raises questions
      286 3 NYT NEW YORK, Tues. When federal Judge Frank Mcgar ruled against the United States Government's charge that the oil-rich Hunt family of Texas had not exceeded legal limits on the holding of commodity futures contracts in soybeans or, In eN feet, tried to
      NYT  -  286 words
    • Article
      Lock icon BURMA GETS I.M.F. CREDIT
      74 3 Reuter WASHINGTON, Tues. The International Monetary Fund said it has approved a 35 million Special Drawing Right standby arrangement for Burma over the next 12 months. The IMF said it approved an economic programme submitted by Burma in support of the credit. The plan alms at
      Reuter  -  74 words
    • Article
      Lock icon Carter's call on health
      69 3 Reuter WASHINGTON, Tues. President Carter called yesterday for an international Erosramme to raise the svel of health throughout the world and pledged US support for such an effort. In a message delivered at the World Health Organisation assembly In Geneva and released here, Mr. Carter said
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    • Article, Illustration
      Lock icon Concorde battle: Lobbying enters critical stage
      1065 3 NEW YORK, Tuesday NYT A MASSIVE lobbying, legal and public relations effort by the French and British Interests, costing an estimated USS4 million (559.6 million) and aimed at winning approval of landings by the supersonic Concorde aircraft in the United States, is entering Its
      NYT  -  1,065 words
    • Article
      Lock icon Number of German jobs to increase by 90,000
      238 3 Reuter BONN,* Tuea. Industrial employment in West Germany ia expected to riee by 1.2 per cent, or 90,000 employees, to 7.59 million Sthe end of thia decade, e Aaaociation of Cham here of Trade and Induatry (DIHT) aaid in a aurvey. Barely
      Reuter  -  238 words
    • Article, Illustration
      Lock icon Increasing concern about return of high-level inflation
      971 3 NEW YORK, Tuesday NYT THE spectre of high-level Inflation, which has hovered over the American economy almost continuously for more than a decade, has heightened so much In recent months that some" analysts are wondering whether the horrendous conditions of the *****3 period,
      NYT  -  971 words
    • Article
      Lock icon 'JOBLESS WILL DROP BELOW 7 PER CENT'
      411 3 WASHINGTON, Tuesday Reuter PRESIDENTIAL economics adviser Charles Schultze said unemployment by year end will drop below the Carter's Administration's target of seven per cent, but "we're not going to do quite as well on inflation." He said In a television in- terview that
      Reuter  -  411 words
    • Article
      Lock icon Switzerland reserves increase
      80 3 Reuter ZURICH, Tues. Switzerland's foreign exchange reserves rose 890 million francs to 13.18 billion in the week ende<t May 8, the National Bank said. The increase Is related to the conclusion of new short tena»swaps with the bank* ins system. The bank said it was partly offset
      Reuter  -  80 words
    • Article
      Lock icon Canadian banks to cut prime rate
      65 3 Reuter MONTREAL, Tues. Royal Bank of Canada said It will reduce its prime rate to 8% per cent from 8V« per cent, effective June 1, barring any further changes In interest rates. The Bank of Montreal, the Bank of Nova Scotia, Toronto Dominion Bank
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    • Article
      Lock icon US energy pricing board to be set up
      104 3 Reuter WASHINGTON, Tues. -rThe Senate Governmental Affairs Committee voted to establish a three-member energy pricing board in a compromise with the White House that reduces the power of President Carter's, energy chief, Mr. James Schlesinger. The panel voted to set up an
      Reuter  -  104 words
    • Article
      Lock icon BIS 'yes' for recycling facility
      89 3 Reuter BASLE, Tues. Bank for International Settlements president Jelle Zijlstra said he is confident the BIS will be associated with whatever international recycling facility is finally adopted. He noted the BIS expressed its willingness to help the OECD establish a US$25 billion financial support fund
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    • Article
      Lock icon Reforms for social security
      80 3 Reuter WASHINGTON, Tues. The Carter Administration sent to Congress proposals for sweeping reforms of the social security system that would cost employers more and Increase the celling on contributions by employees. In his message to Congress, President Carter said that if no action Is taken the
      Reuter  -  80 words
    • Article
      Lock icon Aramco's average
      32 3 AP NICOSIA, Tues. The Arabian-American Oil Company (Aramco) produced crude oil from Saudi fields during 1976 at a dally average of 8,343,953 barrels, the Middle East Economic Survey reported yesterday.
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  • Page 2 Advertisements
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      156 2 Bu SINGAPORE ness MC(P) 162/1/77 VOL.I N0.4 APRIL 1977 PRICE:S3.OO SM jSafl St-A v fc, w. i,s: Safe -c* j"* m lit w *.'l s V/ 5 5R v 4 rf il'l f 11 COVER Telecommunications MANUFACTURING Singapore's long-term prospects TRADE Singapore: United States PROPERTY Middle-income housing LIFE AT THE
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  • Page 2 Miscellaneous
    • Miscellaneous
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      19 2 (NO'. 4^l si M <1. <M 6omß\ v^) /r^^i r /i d Dei \/£> ivJ'A f\fe CfIST*J& Rtf TM6JR )j
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
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    • Miscellaneous
      Page 2 Miscellaneous Column 3
      225 2 SINGAPORE 5 3.00 P.M. Opening Announcements followed by Classic Keystone Comedy Capers f.15 Diary of Events (Malay) .20 General Hospital 4.00 A Station With Cranes (r) 4.30 Intermission 6.00 P.M. Opening Announcements followed by Electric Company 6.30 News in Brief 6.35 One Northern Summer The Polar Bear Capitol Of The
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  • COMPANY NEWS
    • Article, Illustration
      Far East-Levingston prepares for setback
      917 4 FAR East-Levingston Shipbuilding Is braising itself for a profit setback In the current year ending Dec 31, 1977, In the face of the continuing slump prevailing in the rig and ship building industry. This is the Indication given by its chairman, Mr. P.H. Meadows, In
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    • Article
      DIVIDENDS ANNOUNCED
      640 4 Current Ex Data Total far Tata! for payment Date payable the year previous year Aokam Tin 10% I Apr 4 May 13 10%I 25% Malayan Tin 24.6%I Apr 4 May 13 24 6%I 67.7% Sthn. Malayan Tin 24.6%I Apr 4 May 13 24.6%I 72.6% D.B.S. 8% Apr 22
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    • COMPANY MEETINGS
    • Article
      UK's most important industry
      1529 4  -  SPOTLIGHT ON ELECTRONICS By TED SCHOETERS A RECENT publication prepared by the UK Central Office of Information and Issued as a reference pamphlet by the Stationery Office singled out the electronics Industry as having become oneof the most Important sectors of British Industry, this Importance stemming
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    • Article
      CHICAGO BOARD OPTIONS
      1240 4 On May 10 I 4 TRADING on the Chicago Board Options Exchange on Monday came (o 83,842 contracts compared with 86,054 on Friday. OPTION JLY OCT JAN STOCK Alcoa 90 7 3/4 0 UNTRD 976/0 AlCW to 13/0 21/2 31/3 S7S/6 Am Tel SS 03/0 NOL NOL
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    • Article
      BICC plans for upturn in activity
      357 4 LONDON, Tues. The financial position at BICC Is strong but the directors consider It necessary to plan for an upturn in economic activity and for consequential Increases In working capital resulting from high volume and any rise In the price of copper, says Mr.
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    • LATEST RESULTS
      • Article
        MALAYAN FLOUR MILLS
        63 4 Unaudited group pre-tax profit M 59.62 million ($1.51 million) for the year ented Dec 31, 1978. Turnover $90.6 million ($70.53 million). Tax $4.3 million (nil) leaving net profit *t $5.32 million ($1.51 million). Parent company pre-tax profit $8.25 million ($1.69 million) on sales of $88.66 million ($68.08
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      • Article
        BATU KAWAN –
        113 4 BATU KAWAN Estimated group pre-tax profit M 57.43 million ($7.15 million) for the first halfyear ended Feb 28, 1977. Estate profit $3.93 million ($4.02 million) and Investment income $3.49 million ($3.12 million). Tax $3.18 million ($3.06 million), leaving net profit of $4.26 million ($4.09 million nxfore minorities of $212,715 ($349,452).
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      • Article
        DUFF DEVELOPMENT —
        124 4 DUFF DEVELOPMENT Estimated pre-tax profit (M 5767,930 ($1.43 mlllllon) for the first half-year ended Feb 28, 1977. Tax $260,000 ($580,000), leaving net profit $507,930 ($850,249). Rubber production 4.9 million lbs (5.27 million lbs), oil palm fruit harvested 7,366 tons (11,018 tons) and fruit purchased nil (286 tons). Interim dividend 2Vi
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    • Article
      MSM recovery boosts Malaysia Weaving
      182 4 A SHARP turn round from loss Into profitability by subsidiary Malaysia Spinning Mills boosted Malaysia Weaving Enterprise's group pre-tax profits to Mtl.ll million for 1976 compared to the modest $74,613 previously. The subsidiary, which started Initial production of cotton yarn in 1975, turned in a
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      282 4 I m 4 \r u r y THEHAMLYN PICTORIAL ATLAS OF THE WORLD A modern and comprehensive atlas has become indispensable both to students of geography and to general readers who want to understand the new economic and political shape of the world. Here for the first time, a concise
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  • Article
    Lock icon Hoogovens returns to dividend
    145 5 Reuter NIJ MEGEN Tues. Koninklljke Nederlandsche Hoogovens En Staalfabrleken has proposed a 1976 dividend of 2.05 guilders. The last time it paid a dividend was in 1974 when shareholders received 5.20 guilders. The payment will be made from reserves, despite parent company Estel's net loss in
    Reuter  -  145 words
  • Article
    Lock icon P. Sinter's first shipment
    131 5 Reuter MANILA. Tues. —The first shipment of sintered iron ore worth US$l.9 million will be exported next week to Japan by Philippine Sinter, company officials said. The shipment consisting of 100,000 tonnes of iron ore would be delivered to Kawasaki Steel, the parent company of the
    Reuter  -  131 words
  • Article
    Lock icon Massey-Ferguson
    82 5 MasseyFerguson Reuter TOR ONTO .Tues.- Massey Ferguson president Mr. Albert A. Thornsbrough said the company declared a regular quarterly dividend of 25 Canadian cents In anticipation of satisfactory performance for the year as a whole. This Is despite lower production and sales for the second quarter over last year, he
    Reuter  -  82 words
  • Article
    Lock icon CBS reaps the most revenue
    434 5 NYT NEW YORK, Tues. Although the ABC television network dominated the prime-time ratings consistently during 1976. the network that reaped the greatest revenue and profit for the year was CBB-TV. However, ABC marked by far the largest gain In profit, with Its US$B3 million for
    NYT  -  434 words
  • Article
    Lock icon P & O buoyant
    163 5 P O buoyant Reuter LONDON, Tues. Pre-tax profit at Peninsular and Oriental Steam Navigation rose to £31.12 million from £22.72 million last year. The profit increase was achieved despite a fall In gross revenue to £740.5 million from £794.1 million. The comparative figures are for the preceding 15 months. N
    Reuter  -  163 words
  • Article
    Lock icon Thomson braces for setback
    497 5 FT LONDON, Tues. Immediate prospects for the Thomson Organisation are uncertain, the main area for concern being the group's travel Interests from which a significant reduction In profit is envisaged for the current year. Mr. O.C. Brunton, the chief executive, explains that the general level of
    FT  -  497 words
  • Article
    Lock icon GRE expects improvement
    582 5 FT LONDON, Tues. An Improvement in 1977 results for Guardian Royal Exchange Assurance Is predicted by Mr. J.E.H. Collins In his chairman's statement, subject to the proviso that there are not many major disasters or freak weather conditions. He feels that despite the Seat many imponderables cing
    FT  -  582 words
  • Article
    Lock icon 'First among equals'
    800 5 FORD OF FORD UPI DETROIT, Tues. "I'm first among equals." Prom any other executive, that comment delivered with just a trace of a chuckle might be considered a sign of an enormous ego. From Henry Ford 11, still the undisputed head of Ford Motor, It Is a
    UPI  -  800 words
  • Article
    Lock icon Bullish year for Tootal
    168 5 Reuter LONDON, Tues. Tootal made a pre-tax profit of £17.78 million for the year ended Jan 31, 1977 compared with £9.13 million for the previous year. Bales were £324.64 million against £257.8 million. Earnings per share were up from 3.4 pence to 5.9 p. Chairman Sir
    Reuter  -  168 words
  • Article
    Lock icon Procter & Gamble US losses
    120 5 Procter Gamble US losses Reuter CINCINNATI, Tues. Procter and Gamble said it continued to incur substantial losses In the US on lts.poffee products In its third fiscal quarter ended March 31, 19T7. However, it said despite those losses and somewhat higher operating costs related to the unusually cold weather it
    Reuter  -  120 words
  • Article
    Lock icon Arco plans to spend US$10 bil
    116 5 Reuter LOS ANGELES. Tues. Atlantic Richfield president Mr. Thornton Bradshaw told shareholders the company's capital programme will be a little over US$lO billion at the end of 1981. "Nearly half will go to the North American producing division to develop the north slope and
    Reuter  -  116 words
  • Article
    Sheraton
    43 5 BOSTON, Tues. International Telephone and Telegraph's Sheraton subsidiary said it agreed to acquire the management contract for the 300-room Park Tower in London and the ownership of the 360room Skyline Hotel and Heathrow Airport from Skyline Hotels of Canada for undisclosed terms.
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  • Article
    Lock icon Benguet Consolidated enjoys increase
    203 5 Reuter NEW YORK, Tues. Benguet Consolidated of Manila said It lost US$ll,OOO from gold Eroductlon operations durlg the first quarter but had a profit of $571,000 from the sale of 94,815 ounces of refined gold from Inventory at an average price of $144 per ounce. The
    Reuter  -  203 words
  • Article
    National Banking earnings up
    257 5 LONDON, Tues. In the six months ended March 31, 1977. profit before tax, of the National and commercial Banking Oroup roee from £28.3 million to £31.1 million and earnings per 25p share are shown to be up from 5.8p to B.Bp. The first half profit Includes
    257 words
  • Article
    Lock icon Commercial Union profit rises
    214 5 Reuter LONDON, Tues. With some reduction In underwriting losses and an Improvement In Investment Income, Commercial Union Assurance has raised pre-tax profit to £18 million from £6.9 million In the first quarter ended March 31. 1977. This was despite full provision for the Tenerlfe aircraft disaster
    Reuter  -  214 words
  • Article
    Lock icon Hutchison Int'l to raise Swift stake
    176 5 Reuter HONGKONG, Tues. Hutchison International said Its Australian subsidiary Hutchison Internationa) Pty reached agreement with Swift. Australia, to raise Its stake In Swift to 39.9 per cent from 35.5 and to bid for Swift's remaining shares up to a 51.96 per cent holding. Swift
    Reuter  -  176 words
  • Article
    Lock icon Arctic Gas confident of Canadian approval
    246 5 Reuter WASHINGTON. Tues. Alaskan Arctic Gas Pipeline said it is confident Canada will approve a Canadian route for the proposed Alaskan natural gas pipeline despite a report recommending a 10-year delay In construction. The company, commenting on the Berger report to the Canadian Parliament
    Reuter  -  246 words
  • Article
    TRW hopeful
    81 5 NEW YORK, Tues. TRW expects earnings and sales for second quarter ending June 30 to exceed last year's record earnings of US$37.B million or $1.18 per share on record sales $743.8 million, chairman Mr. H.A. Shepard told security analysts. The company expects earnings for 1977 to exceed the
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  • Article
    Lock icon Falling overseas sales hit Komatsu
    205 5 Reuter TOKYO. Tues. A 16.7 per cent fall In overseas sales has caused net consolidated profit at Komatsu to drop 14.4 per cent to 15.06 billion yen (17.61 billion yen) last year. Total sales fell 8.6 per cent to 403.37 billion yen (441.26 billion yen).
    Reuter  -  205 words
  • Article
    Lock icon Marathon Oil optimistic
    103 5 Reuter FINDLAY, Ohio. Tues. Marathon Oil expects higher earnings In 1977, president Mr. Harold D. Hoop man told the annual meeting. In 1976, the company earned U*****.8 million or $6.52 per share. Mr. Hoopman also said Marathon expects to drill a confirmation well about 1.6 km north
    Reuter  -  103 words
  • Briefly
    • Article
      Inco
      101 5 TORONTO, Tues. Inco said It completed private placement of a series of 10 million Drefered shares for Cs2so million with 16 Canadian institutional investors through Wood Gundy. The preferred shares have a cumulative floating rate dividend, calculated on a quarterly basis, equal to one half the Canadian prime rate
      101 words
    • Article
      RCA
      68 5 NEW YORK. Tues. RCA is confident it will achieve a record second quarter and is on its way to a record year, president Mr. Edgar H. Griffiths told the annual shareholders meeting. In the second quarter of 1976, RCA reported primary per share earnings of 70 US cents on
      68 words
    • Article
      Decca
      77 5 LONDON, Tues. Decca chairman Sir Edward Lewis told Reuter he had no comment to make on yesterday's rise In the company's share price, up lip at 345 p. The move follows weekend press reports of comment by Racal chairman Mr. Ernie Harrison that he believes government supported rationalisation of
      77 words
    • Article
      Chrysler (F)
      41 5 PARIS, Tues. Chrysler France has reported a net profit of 214.6 million francs for 1976 compared with a loss of 110.6 million francs in 1975. With the turnround, Chrysler Is paying a dividend of 6.50 francs against nil previously.
      41 words
    • Article
      Philex
      99 5 MANILA, Tues. Philex Mining said it contracted to sell 30,000 tonnes of copper concentrates to Nippon Mining. Company president Mr. Henry Brimo said, however, efforts to sell an additional 60,000 tonnes to the same buyers "were not fruitful." Phllex sold US$35 .4 million worth of copper concentrates last year,
      99 words
    • Article
      Ste Generale
      57 5 PARIS, Tues. Ste Oenerale will raise US$75 million through a seven year floating rate Eurobond without early redemption features, a spokesman for the bank said. The bond will carry a six per cent minimum coupon and a spread of 1/4 point over the six month London interbank Eurodollar
      57 words
    • Article
      T.H. Forte
      83 5 LONDON, Tues. Trust Houses Forte chairman Lord Thorneycroft said the outlook for the year to endOctober is good. He told the annual meeting that buoyant trading conditions have produced increased profitability in the first few months of the current year compared with the same year ago period. Bookings
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    • Article
      Honeywell
      41 5 MINNEAPOLIS, Tues. Honeywell Is very optimistic about the prospects for 1977, president Mr. E.W. Spencer told the annual meeting. He said the Increase in first quarter sales volume aided by results of cost reduction programmes should favourably affect operating ratios.
      41 words
    • Article
      Sundstrand
      44 5 LONDON. Tues. Sundstrand Finance International will raise US$25 million through a 10-year Eurobond, joint lead manager S O. Warburg said. The issue has an Indicated coupon of 8% per cent with an average life of BVi years. Pricing Is scheduled for May 17.
      44 words
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      Page 5 Advertisements Column 1
      182 5 More executives and businessmen Singapore and Malaysia Survey Research group data indicates that the Reader's Digest reaches nearly a quarter of all adult men in Singapore and West Malaysia who classify themselves as Professionals, Executives, Senior Government Officers, Businessmen, Merchants or Proprietors .this is more than any other two businessmen's
      182 words
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  • Article
    Share Information Service
    2148 6 \m Hick Low Coafuy Lut Sal* +orGr'» dhr Dfr c'rr Gr*a yH Nat rrt Vel rmt) Day Higk Law SECTIONONE INDUSTRIALS 144 133 204 76 212 101 196* 163 219 392 136 127 204 58 212 57 155 154 182 354 Acma Acma A Alcom Allied Choc
    2,148 words
  • Article
    Transactions in Singapore
    1192 6 BID and offer prices officially luted 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 "Sea." Big Board
    1,192 words
  • Article
    In Kuala Lumpur
    1220 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 Alun (1 90S). A.M.O. (0 555) <3) 0.93. A.P.I. (0.6318 0648)
    1,220 words
  • Article
    Stock options
    85 6 STRIKING price* at the atock option* officially bated oa the Stock Exckaage at Siagapore, the period*, bid and offer pricea and busineea done yesterday, with the number of option* traded ahown la bracket*. D.B.S. (June -83.90) (0 03 *B). (Dec $3.M) (0.358) (1) 0 35, (1) 0.36. Inckcape
    85 words
  • Article
    Unit trusts
    145 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Mutfen' prio bs for May 11) (CurrMit price 8) The Commerce 1.74 1.84 INCOME BOND 1.06 l.U The Saving Fund OH 0.94 S pore Prog Fund o.ao 0 85 MARA BUMIPUTRA FUND S pore Security Fund 1.45 l.M (Maaagen' price* for May
    145 words
  • Article
    Domestic govt bonds
    167 6 B O T 7 5/8% 1984 (100,0 M) (MSB 99*8) B O T 8 1/2% IMI (100,000) (102*B 1038) D B S 8 1/2% 1982 (100,000) (100*B 1018) DBS Convert* 1/2% IMI (100,000) (97V 4 8 98*8) E I B 9% 1982 (100,000) (103HB 104*8) E I
    167 words
  • Article
    Corporate bonds
    100 6 5 1/2* 1/4/78 (250,000) (101.488 101 55S >(4)101.50 5 1/2* 15/4/78 (250,000) (101.458 101.555) 5 1/4* 15/7/78 (250,000) (101.458 101.555) 4 3/4* 1/5/79 (250,000) (100.708 100.758X5)100.73 7* 1/7/7$ (250,000) (104.658) 5 1/4* 15/10/79 (250.000) (101.658 101.755) 0 3/4* 15/6/80 (250,000) (103.30B) 6 3/4* 1/12/80 (250,000) (103.SOB) 5* T
    100 words
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      Page 6 Advertisements Column 1
      406 6 THE GREAT BOOKS of the beautiful, durable bindings Is the of the fundamental Ideas of ■■■il vHv| I I B WW Eaw lEI 111 wwvnbi/ Here In beautiful, durable bindings Is the whole record of the fundamental Ideas of mankind science, history, psychology, mathematics, theology, literature and poetry. This magnificent
      406 words
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  • Article
    Trading ends mixed
    598 7 A FEW firm apote iwifgil support la a pml--5 tai erraetic stock marhetyesOperators sad fchMsw continued la focus their attention on a haadfol of aeoo«d and third Unora moat of which aadsd op in ptaaUmiBy and largs Ike suurhot *aa still rather nan* rBS£SE?2Sr~ The overnight atreagth
    598 words
  • Article
    Interest in KL on third liners
    481 7 LOWER-prlced stocks featured prominently In active trading on the Kuala Lumpur stock market yesterday. The sustained speculative activity In Central Sugars and General Lumber apparently generated the Interest In a score of third liners. Hefty gains were noted In stocks like Associated Plastic Industries,
    481 words
  • Article
    New York
    1058 7 NEW YORK: A price Increase by US Steel aggravated Wall Street's concern about inflation on Monday, wishing prices lower in duß trading. Although the council on wage and price stability avoided direct characterisation on the company's action as good or bod. analysts said the higher steel prices if
    1,058 words
  • Article
    Paris
    292 7 PARIS: The market fell overall following increase In call money to 9-3/8 per cent and an opinion poll showing Increasing disillusionment with French economic policy, dealers said on Monday. Americans, Qermans and oils eased among foreign stocks, with coppers and golds mixed and Belgians a little firmer. MAY M
    292 words
  • Article
    Frankfurt
    345 7 FRANKFURT: The market closed mainly higher in quiet trading with Interest mainly centred on electrical and auto shares, initiated by a report the Shah of Iran Is Interested In such companies, market sources said on Monday. VW gained 2.80 marks on news Iran Intends a joint car plant with
    345 words
  • Article
    Jo'burg
    356 7 JOHANNESBURG: Gold shares traded basically steady In light trade on lack of overseas Interest, and despite slightly lower European bullion Indications, dealers said on Monday. Movements were small with heavyweights changing up to 40 cents, and lightweight counters around two or three cents. Financial minings were mixed to softer.
    356 words
  • Article
    Brussels
    172 7 BRUBBELS: Share prices closed mixed to mosUy lower In a quiet market, bourse sources said on Monday. Astariaaae, Geominea, Hai-tt«l-Biakrt and Tikietflia rose but Elactrabel, Ualon Minim. FN, Ceekartll. WagaaaUts, GB, Bahray and Maaaae all feU. In foreign stocks. UK, Garau and Caiwdiaa shares were little chanced. Most Dutch
    172 words
  • Article
    Milan
    178 7 MILAN: The market closed Irregularly lower In decreasing trading with operators very cautious on the continuing uncertainty of the political situation. dealers said on Monday. AnlearuUil Genenli lost ground in Insurances after the past week's recovery, while M»jtabaaca yu mandnallv higher U mixed oanks as was IFI privileged in
    178 words
  • Article
    Sydney
    404 7 SYDNEY: The market was mixed on Tuesday, with some Issues recovering In the afternoon after falling sharply In the morning, dealers said. The Sydney All-Ordinaries index was 0.06 points higher at 451.80. Pane—tlasatal closed 45 cents lower at $13.00 after earlier falling 85 cents, white QimasUeri Miaes and Renlson
    404 words
  • Article
    Manila
    171 7 MANILA: The market eased In continued sluggish trading and all sectors closing lower, dealers said on Tuesday. Overall turnover was slightly higher than on Monday at 1.72 million pesos compared with 1.40 million. Minings eased on the decline in London gold and copper price. Bragiiet Cm B, Phil Onrmi,
    171 words
  • Article
    Zurich
    269 7 ZURICH: TIM stock market cloeed narrowly mixed aim a weaker tolas tn very quiet activity on Monday. In narrowly mixed leading banks Lea ruled eery steady, while Kieitaiak and ButGaeeOeekaft continued to mm Among otherwise little chanted flnanclals Oerltkea-Baakrle bearer and Blektre-Wat lost ground, while insurances closed barely steady.
    269 words
  • Article
    Toronto
    321 7 TORONTO. The cut In Canadian bank rate to 7.5 per cent from eight and the subsequent reductions In most major banks' prime lendlnt rates pushed share prices higher at the close of moderate trading on Monday despite downside pressure from a sluggish Wall Street, dealers said. The composite index
    321 words
  • Article
    Tokyo
    519 7 TOKYO: Prices eased throughout the day. led by blue chips. In line with the continued decline on Wall Street dealers said on Tuesday The Dow Jones average lost 35.84 to close at 5,068.57 with volume 180 million shares. The New Index closed at 380.75, down Electrlcals. motors, ship..J menu
    519 words
  • Article
    Hongkong
    368 7 HONGKONG: Share prices closed steady to firm with continued selective buying Interest meeting some profit taking, In moderate trading, dealers said on Tuesday. The Hang Seng Index rose 1.28 points to close at 447.66. Among leading stocks Jardine MatJmoa rose 10 cents to $16.70, Swirs Pacific five cents to
    368 words
  • Article
    Amsterdam
    254 7 AMSTERDAM: Shares feU over a broad front, with Hasga vsaa a marked loss In Dutch Internationals, dealers said on Monday. Uaflavar finished unchanged and Rayal Dated edged higher. ELM. banks and IHC were leaders to decline elsewhere. AkeU and Fakkar were major Isolated firm spots. State loans eased. MAY
    254 words
  • Article
    Bangkok
    96 7 MAY I* BahU Asia Fibre 171 +2 Bangkok Bank m unch Bangkok Invest 182 ♦2 Bangkok-Metro-politan Bank Bata «1 Bertl Jucker 281 Charoong Thai Wire 1708 -4 Dumex DusItThanl Faber Merlin First Trust Indo-Thal Industrial Finance Corp lies J And J Ho 220 -1 Jalaprathan Cement 120 •11 Karnasuta
    96 words
  • Article
    Indices
    59 7 FINANCIAL TIME8 INDUSTRIALS Monday 454.2 £rtd«r 450.1 Week ago 430.7 DOW JONES AVERAGE INDUSTRIALS Monday #33.09 Prtday 938.74 Week ago 931.22 LONDON DOLLAR PREMIUM Monday 121* to 122* Friday 121 to 121H H.K. HANG SENG Monday 446.37 Friday 443.98 Week ago 440.23 SYDNEY INDUSTRIALS Monday 383.93 363.82 Week ago
    59 words
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      Page 7 Advertisements Column 1
      426 7 TirC QVIVITYIPIPnW proper volume. Your eyes are directed to the •X XJLLs OX 11 X v/l AA/L1 right chapter, page, and paragraph. Your mind Is then enriched by the very words the author had to say about the Idea. what the GREAT BOOKS can mean to yim Just as an
      426 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Local and foreign rubber markets
      692 8 OPENING quotations In the Singapore rubber market yesterday, were marked down one cent following lower London advices and thereafter, prices fluctuated fractionally In quiet trading, dealers said. Towards the morning close, prices recovered slightly on some shortcovering and forward enquiries, they said. Volume was fair.
      692 words
    • Article
      Closing prices
      29 8 Rubber: May 10 Singapore: June 200.50 eta (unchanged) Malaysia: June 201.50 cts (down 0.25 eta) Tin: $1,450 (down S 15.00) Official offering: 265 tonnes (up 25 tonnes)
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    • Article
      Produce prices
      288 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut OU: Bulk $105 sellers, old drum $110 sellers, new drum $115 sellers Copra: Mixed (loose) UK/Cont. $88 buyers. PepDer Muntok ASTA white f.o.b. 100* NLW $395 sellers Sarawak white f.o.b 90S NLW $375 sellers. Sarawak special black
      288 words
    • Article
      Palm oil
      119 8 THE following palm oil prices were quoted In London on Monday. The prices are elf Rotterdam and are quoted In US dollar per ton unless otherwise stated Monday Pre*. Malaysia 5% ffa bulk Jly/Aug Sumatra 5% May June July Aug Sept Nigerian 5* ffa bulk Sterling per long
      119 words
    • Article
      SSR and SMR
      92 8 May June R.A.S. (Comal Mtk) (Ferwi ■rtfMiai Buyer* |0Ml Seller* Buyer* Seller* I per kg) leper k#) (Cf nil SSR20 (1-ton Pallet) 199 00 196.OON 196.50 197 50N SSRSO (1-ton Pallet) 182 50 193.SON 194.00 196 OON M.R.E.L.B. SMR5CV (1-ton Pallet) 220 50 222.50N 222.50 224.SON SMRSL
      92 words
    • Article
      Hongkong comex
      143 8 HONGKONG, Tues. Cotton futures closed lower In very quiet trading, following the overnight decline in New York, dealers said. The traded months October, December and March fell 0.78 to 1.58 US cents, while May and July were untraded, closing at 68.00/69.00 69.20/80) and 68.00/60 69.21/40). Total turnover was
      143 words
    • Article
      Tin shipment
      73 8 SHIPMENT of Straits refined tin from Pen&ng for the month of April 1977. Destination Shipped Afloat Shipped tonnes tonnes tonnes Africa 10.00 Australasia 12.00 Canada 5.00 20.00 Continent 1,460.00 32.00 8,848.00 India 190.00 46.00 380.75 Japan 1,732.75 66.00 4,900.50 West Asia 113.25 241.50 Pacific 368.75 30.00 959.25 Singapore
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    • Article
      Gold
      325 8 IN the Singapore gold market yesterday, the kllobar was traded In the range of 3811,785 to $11,810. The loco London gold opened at U*****.90/ 148.30 and closed at U*****.75/ 148.00 in lacklustre trading. The London morning fix was U*****.85, up $0.55 on the previous fix. Source: Singnms Retail prices
      325 words
    • Article
      Straits tin
      180 8 THE Straits tin price In Penang yesterday was down $15 to $1,450 on an official offering up 25 tonnes to 265 tonnes. In LONDON yesterday, tin rose by around £27 for Cash and £25 for Three Months In both contracts. Dealers attributed the steady tone to the general
      180 words
    • Article
      Copper
      254 8 LONDON, Tues. Copper in the morning closed £T5O per tonne higher all round for wlrebars, with Three Months trading finally at £830.50. Dealers said values were marked higher Initially following overnight gains in US futures. The market then fluctuated narrowly under moderate buying and selling which trade sources said
      254 words
    • Article
      Coffee
      256 8 LONDON, Tues. Futures ended the morning opening call with prices narrowly mixed against last night. Untraded Spot May gained £10 but other positions recorded losses of £35 to £7. 465 lots were traded and the market tone was "steady." Monday's decline was extended reflecting New York's limit down close
      256 words
    • Article
      Rice
      212 8 BANGKOK, Tues. Indicative prices for rice quoted in Bangkok In US dollars per tonne fob basis Bangkok were: White Rice: 100 per cent Ist class 284 100 per cent 2nd class 267 100 per cent 3rd class 262 5 per cent 252 10 per cent 232 IS per cent
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    • Article
      Soybeans
      136 8 CHICAGO, Tues. Soybean futures yesterday broke out of their downward spiral to close higher on the day, finishing with gains of 26 to 14 1/2 cents a bushel. Small gains were posted in the early minutes of trading, when little selling appeared In the pit, but a lack of
      136 words
    • Article
      Wheat
      104 8 CHICAGO, Tues. Wheat futures finished the session yesterday above new seasonal lows reached earlier but closed with losses of 2 1/2 to 4 3/4 cents a bushel. Speculative selling appeared early In. response to the near-record winter wheat crop forecast by Mr. Conrad Leslie, and commerclal selling and losses
      104 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        535 8 THE Singapore foreign exchange market saw the US dollar easing against the Deutschemark and yen yesterday. From its opening of DM2.3584/ 87, the US dollar weakened substantially to DM2.3550/ 65 at one stage before recovering to DM2.3570/ 73 after the London market opened. The dollar aiso eased against the
        535 words
      • Article
        Asian $ rates
        152 8 Asian rates ASIAN currency depodt Interbank rate* aa at doae on May 10 US Dollar Ofhr "El 7 days 1 mtti I mthi 3 rnths mths mth» 12 mthi S 1/2 5 1118 S 7/t 8 1/18 1/4 M 5 5/16 5 3/8 sa/ia 5 3/4 5 15/16 6 1/1
        152 words
      • Article
        Discount
        8 8 > i 1 Source: National Discount Co. Ltd.
        8 words
      • Article
        Euro $ rates
        129 8 Euro rates LONDON, Tues. Eurodollar deposit rates were little changed at tbe outset In slack trading, dealers sakl. A Friday-end of period In Three Months made for an initial sain of around 1/16 while other near time deposits opened unchanged. Longer positions were occasionally 1/16 harder. Little early Singapore Interest
        129 words
      • Article
        New York
        218 8 NEW YORK, Tues. The dollar closed stronger yesterday as speculative positions taken ahead of the economic summit over the weekend In London were unwound, dealers said. The failure to materialise of a widely-expected agreement to allow the currencies of economically strong countries to appreciate triggered selling, particularly of
        218 words
      • Article
        London
        209 8 LONDON, Tues. The dollar showed small losses against other major currencies in quiet opening trading In reaction to yesterday's sharp advance, dealers said. The strong dollar demand seen after the weekend summit has now subsided, the dealers said. Expectations that US short term money rates may move higher were
        209 words
      • Article
        Tokyo
        172 8 TOKYO, Tues. The dollar for overnight delivery closed lower in active trading at 277.35, Compared to 278.20 at the opening and 278.15 at yesterday's close, with increased export covering by manufacturers and traders, dealers said. The US currency initially advanced reflecting a rise in overseas centres and a high
        172 words
      • Article
        Hongkong
        95 8 HONQKONQ, Tues. The Hongkong dollar weakened slightly but closed steady on Its opening 94-6620/40 from yesterday's 4.6600/20, while European currencies were steady on their New York close, dealers said. The yen rose to 2 77.35/45 from New York's 278.01 but In quiet trading, they said, while there was fair
        95 words
      • Article
        Minimum lending rates (in %)
        56 8 Minimum lending rates (in acbc ft* 6*i Algemene Bank 6* Citibank 6%. Bangkok Bank 7 HSBC 7 Bank of America 6* Indosuez 6*4 Bank of China... ..7 Malayan Banking 6*. Bank of Tokyo Mitsui Bank 6*« Bank Negara Indonesia 7 OCBC OUB 6\ Chartered Bank 6* UCB 7 Chase Manhattan
        56 words
      • Article
        Australia/NZ
        51 8 AUSTRALIA/NZ exchanges quoted on May 10 Australia: Sterling 0.6452/ 0.6381 US dollar 1.1056/ 1.1008 Ninety-day air mall buying rates: Sterling 0.6634 US dollars 1.1306 Ninety-day forward buying rates: Sterling 0.6436 US dollars 1.0939 New Zealand: Sterling 0.5595/ 0.5564 US dollar 0.9664/ 0.9564 Ninety-day forward rate: Sterling 0.5784 US dollar
        51 words
      • Article
        Zurich
        48 8 ZURICH exchanges closing quotes on May 9. US 2.5258-5266 UK 4.3400-3430 Can 2.4060-4075 W Germ 107.07-14 Neth 103.72-82 France 51.00-03 Belg 6.99 1/2-7.00 1/4 Denm 42.12-15 Norw 47.82-85 Swed 58.14-18 Italy 0.2850-2853 Austria 15.05-07 Port 6.52-54 Spain 3.66 1/2 67 Arg 0.65-80 Japan 0.90 3/4 91 1/4
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      • Article
        Frankfurt
        33 8 FRANKFURT exchanges opening quotes on May 10 US 2.3570/80 Can 2.2465/85 UK 4 050/060 Neth 96.00/10 Swltz 93.35/45 Italy 2.655/665 France 47.58/68 Norw 44.63/69 Belg com 6.53/54 Belg fin 6.52/54 Japan 0.8500/10
        33 words
      • Article
        Eurobond prices
        285 8 LONDON, Tues. Dollar bond prices stabilised at yesterday's Ipwer levels in dull trading, dealers-said. LONDON Eurobond prices quoted on May 10. Straight* Bid Offer Austria.»*90 101 101* Bell Canada 8* 86 104 105* BFCE8*83 101* 102* Brazil 8* 84 97* 87* Can Pacific 8* 83 104* 104* Credit
        285 words
    • Article
      Silver
      261 8 LONDON, Tues Silver gained 2.4 to one pence In the morning. Prices were marked higher Initially reflecting the rally In New York, with the trend In base metals and steadiness In gold supporting Influences. But trading was only modest. Three Months finished at 281.4 pence. Carries boosted turnover to
      261 words
    • Article
      Lead
      125 8 LONDON, Tues. Lead gained £17.50 for Cash and £12 for Three Months In the morning. The market rallied from Monday's downturn. From a pre-market low of £391 per tonne, Three Months traded up to £397 In the ring before finishing the kerb at £390. Strong bidding of Cash from
      125 words
    • Article
      Zinc
      80 8 LONDON, Tues. Zinc Cash and Three Months rose £4.25 and £4.50 respectively In the morning. But dealings were very slow and the major part of the limited turnover of 1,400 tonnes consisted of carries. In the ring. Three Months traded from £384 up to £387. On Monday afternoon, zinc
      80 words
    • Article
      Sugar
      195 8 LONDON, Tues. Terminal In the morning opened £2.60 to £3.70 above Monday afternoon's closing levels, Sales totalled 1,135 lots. Dealers said most of the gains were recorded during last night's kerb In conjunction with a rise In New York. The higher levels attracted some fresh selling this morning In
      195 words
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      Page 8 Advertisements Column 1
      47 8 Peter Benchley 'Better than JAWS, ever escalating shocks' -TIME 'Cracking entertainment' -DAILY TELEGRAPH j IT 'For the second time -the txx)k you can't put down' -DAILY MAIL Now on Sals at your regular bookshop Distributed by: TIMES DISTRIBUTORS SDN. BHD. TimM HodM, River Valley Road, Singapore 9
      47 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article, Illustration
      Lock icon A surprise Swedish marriage
      1938 9  -  By TERRY DODSWORTH, GEOFFREY OWEN FT THE long and apparently inexorable process of rationalisation In the European motor Industry took an unexpected turn last Friday with the announcement of a proposed merger between the two Swedish companies, Volvo and SaabThese two companies have earned an enviable
      FT  -  1,938 words
    • Article, Illustration
      IN PORT
      428 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Cherry VUJa (B. Barge) (1000 tbc) 46 Fedor Shalyapln (0800 after Ibn Majld shifts) 44/45 Ibn Majld (0530 shifts after Ragna Bakke)47 Lumut (2000 after Perak) 20 East SBS m (B. Barge) (1200) 42/43 PASIR PANJANG WHARVES Ban ten (0600 after Bruas) (1220
      428 words
    • Article
      Lock icon Ley land's share of market slides below 20 per cent
      440 9 FT LONDON, Tues. The Ley land Cars group suffered the Ignominy of watching Its market share slide below 20 per cent, for the first time last month as the full effects of the month-long toolmakers' strike In February fed through
      FT  -  440 words
    • Article
      Lock icon London freight market
      196 9 AP LONDON, Tues. Stable Atlantic grain rates at both the US Gulf and River Plat origins were the main feature of business at the start of the week yesterday on the London freight market. Non-grain commodities such as coal and ore failed to generate fresh interest, but
      AP  -  196 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      573 9 ARRIVALS SWVlCf Operator Number Loca TIbm 1 Fran TMA TL304B 0530 TPE MAS MH682 0810 KCH CAL CI810 1000 HLP CPA CX710 1000 HLP SIA SQ211 1015 HLP oia OA980 1030 HLP THAI TG423 1035 BKK THAI TG981 1050 BKK OIA OA 908 1100 MES PAL PR501
      573 words
    • Article
      Lock icon AMC: No plans to quit...
      246 9 AP i SOUTH FIELD, (MICHIGAN), Tuee. The chairman of America! Motors said yesterday that his com pa ay has as plan* to p eat of the passeager car busiaeM. Mr. Roy Chapia Jr. issued the stateamat followiaf weekend publication ef an Associated Press story aheat
      AP  -  246 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      476 9 THE .fife- DEBT TRAP HOW TO SURVIVE N THE SLUMP Business Management in Penguins The Debt Trap: Cheryl Payer The International Monetary Fund is the most power- 8 ful supra-national government in the world today. This book is about the efforts of poor nations to gain some control over their
      476 words
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  • Article, Illustration
    Lock icon An increasing regional role for HK banks
    1512 10  -  By PHILIP BOWRING FT HONGKONG'S commercial banks have continued to be characterised by a high degree of liquidity and rapid deposit growth. The situation had reached such a pass by mid-April that the Shanghai bank took the almost unprecedented step of breaking ranks
    FT  -  1,512 words
  • Article, Illustration
    Lock icon Coffee prices may be levelling off
    882 10  -  By H.J. MAIDENBERG NYT THE heat was finally gone out of the coffee market. For the last four weeks, S rices of green (unro&sted) eajis deliverable this month have dropped by US64 cents (551.54) a pound. Last week alone the drop was US22 cents.
    NYT  -  882 words
  • Article
    Lock icon Is this the world's biggest bank robbery?
    1214 10  -  THE tiny' Swiss border town of Chiasso is placid but surprisingly naughty. It is said to be one of the world's main channels for stolen Italian art treasures, as well as a centre for smugglers and couriers of illegally-exported Italian currency. Right now
    FT  -  1,214 words
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      198 10 Have you $ot your CGpyoffliel9K/77 BUKUMERAH? i The complete filing cabinet mi the business scene OFFICIALS AND PUBLIC BODIES ALPHABETICAL INDEX HSSEEIQBiIi Hh Umuw rl"| v mt The Straits Timet DIRECTORY OF SINGAPORE 1*7*77 •SE* Hub w (if»OUP It's the 1976/77 "Red Book" the office/library reference book covering the bustness
      198 words
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  • Article
    ORGANISERS EXPECT UNDER 100 TO ATTEND
    278 11 WITH less than a month to go, the organism of tho conhi— to on Asian busineos opportunities in the Arab world have sealed down the pa pec tod number of participant* for the two-day conference otarting on June 2. The conference has attracted between
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  • Article
    Talks begin on details of Straits projects
    307 11 THE technical meeting to discuss the details of the Joint Tidal and Current Studies and Common Datum Charts Projects of the Straits of Malacca and Singapore began yesterday. The meeting, which will end tomorrow, will examine further the technical details of the two
    307 words
  • Article
    Essay contest for young managers
    155 11 THE Singapore Institute of Management (SIM) is organising a "National Young Managers Essay competition." The aim of the competition is to provide managers, 40 years and below, an opportunity to express their knowledge, Interest and experience in the field of management. The competition, to take
    155 words
  • Article
    Lock icon Work begins on $148 mil tunnel
    154 11 UPI HONGKONG,'Tues. Work began today on the US$6O million (*****.6 million) Aberdeen tunnel, the first to be driven on Hongkong Island and the most ambitious highway construction project ever awarded by the government of this British crown colony. The two-kilometer twintube tunnel will provide
    UPI  -  154 words
  • Article
    Lock icon Taiwan surplus with US rises
    157 11 Reuter TAIPEH, Tues. Taiwan's trade surplus fell to U5522.4 million (Ssss million) In the first four months of this year from $87 million in the same 1978 period, customs statistics showed. Exports during the period rose 8.7 per cent to $2.54 billion,, while imports advanced'
    Reuter  -  157 words
  • Article
    Lock icon Taipeh investment
    123 11 Reuter TAIPEH, Tues. Foreign Investment In Taiwan In the first four months of 1977 totalled US$lB.7 million (Ss4B million), the Ministry of Economic Affairs said. No comparison for the same period last year was given, but In the first six months of 1978 foreign investment totalled $47.8 million.
    Reuter  -  123 words
  • Article
    Lock icon Vietnam faces acute food shortage
    160 11 UPI NEW YORK, Tues. There Is an acute food shortage In Vietnam and the Vietnamese people hope to get reconstruction aid from the United States, a member of a delegation which recently visited the country told a news conference yesterday. Don Luce, director of Clergy
    UPI  -  160 words
  • Article
    No wonder your picture is in 3-D
    120 11 THREE- DIMENSIONAL and 2-D picture taking In one single exposure Is now available In Singapore with the introduction of the Wondervlew 3-D S-102 camera. The Wondervlew 3-D, marketed by Natural Photographic Store, Is believed to be the world's first single lens camera capable
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  • Article
    Lock icon It depends on Thai security
    95 11 Reuter BANGKOK, Tues. Ahy Increase In Thal-Malay-sian military cooperation hinges on Thailand's ability to maintain «its own security, the Thai army Commander-in-chief, General Serm Na Nakhon, said today. He told reporters that cooperation between Malaysia and Thailand whose forces have mounted two Joint operations so
    Reuter  -  95 words
  • Article
    SUITS
    118 11 M and B Trading Pte. Ltd. yesterday filed a suit In the High Court against Loke Chee Fong of K. Tat Co. for $64,214, alledgedly due for goods sold and delivered to the defendant. F.E. Zuelllg (Trading) Pte. Ltd. also sued Watches of Geneva and Jewellers (S) Pte Ltd.
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  • Article
    BEEF BUY
    28 11 SEOUL, Tues. The South Korean Government has decided to Import 5,000 tonnes of beef to meet current local shortages, the newspaper Chosun II bo reported today.
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  • Article, Illustration
    RECORD NUMBER OF TOKYO FIRMS WENT BUST IN 1976
    690 11 THE number of corporate bankruptcies In Japan shot to a record high last year, according to a Japanese trade publication. Focus Japan. It said that a leading business research firm, Tokyo. Shoko Research, found that the number of bankrupt companies, with
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  • Article
    Lock icon Application to form fibre cartel soon
    173 11 UPI TOKYO, Tues. The Japanese chemical fibre industry will shortly file an application with the Fair Trade Commission for permission to form a cartel to tide over the recession, the financial newspaper Nlhon Kelzal said today. If authorised, it will be the first such
    UPI  -  173 words
  • Article
    Lock icon India orders watch making factory
    132 11 UPI T6KYO, Tues. Citizen watch Co. of Japan has Initialled a U5530.36 million (SsB9 million) agreement to export a watchmaking factory and parts to India, the firm announced yAterday. The buyer will be India's government controlled Hindustan Machine Tools (HMT) Company. The contract Includes a
    UPI  -  132 words
  • Article
    Lock icon Orient Leasing venture
    142 11 UPI TOKYO, Tues. A leading Japanese leasing firm announced it will shortly set up a Joint venture In the Philippines with local interests. Orient Leasing Company said yesterday the subsidiary will be called Consolidated Orient Leasing and will have a paid up capital of U*****,517 (551.05 million).
    UPI  -  142 words
  • Article
    Lock icon No tit for tat over ban
    102 11 Reuter TOKYO, Tues. Japan is not considering any official action against Taiwan after the import ban on 21 categories of Japanese electronic calculators, audio equipment and vehicles aimed at correcting its Imbalance of trade with Japan, Foreign and Trade Ministry officials said. They said
    Reuter  -  102 words
  • Article
    Lock icon Hongkong cotton futures
    63 11 Reuter HONGKONG, Tues. Hongkong commodity exchange officials said the current or nearest month quoted on the cotton futures market will be subject to the US 2 cents per lb limit movement until one month before expiry of the month concerned. Earlier they had said that the current
    Reuter  -  63 words
  • Article
    Exports up but below target
    136 11 TOKYO, Tues. —Japan's exports of industrial plant facilities during fiscal 1970 ended March totalled US$B.OO billion (5519.7 billion) on an export licence basis, up 52.7 per cent from *5.24 billion in the previous year but below the target of $12 billion, the Ministry of. International
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  • Article
    Lock icon Dumping duties on cement
    117 11 Reuter MANILA. Tues. Imports of white cement from South Korea and Thailand are now subject to dumping duties, the Department of Finance said today. Finance Secretary Cesar Virata made the decision following protests from local producers. In addition to ordinary customs duties, internal revenue taxes and
    Reuter  -  117 words
  • Article
    Lock icon SOYBEAN SALE
    41 11 Reuter TOKYO. Tues. Japanese traders contracted to buy 1,500 tonnes of soybean from China for July/September shipment at the current Canton Trade Fair, Suipltomo Shojl Kalsha said. The price rise reflects an Increase In Chicago market prices, Bumltomo said.
    Reuter  -  41 words
  • Article
    Lock icon Chinese urged to gear up for an impending war
    421 11 UPI HONGKONG, Tues. China's two top leaders, warning of the danger of war, have called on the Chinese people to speed up the nation's economic development. "We must definitely be ready for war," Communist Party Chairman Hua Kuo-feng declared yesterday to
    UPI  -  421 words
  • Article
    Lock icon Sugar refiners plan to extend cartel
    245 11 Reuter TOKYO. Tues. The Japan Sugar Refiners Association said the sugar Industry plans to form an Industry initiated ordinary recession cartel to succeed to the present governmentInstructed cartel, which expires by the end of this month. It said extension of the present cartel Is
    Reuter  -  245 words
  • Article
    Lock icon Unemployed figure jumped in March
    329 11 AP TOKYO, Tues. March Japanese unemployment marked the highest level since March 1859 to total 1.27 million, up 50,000 from 1.22 million in February and up 10,000 from 1.26 mUllon In March 1976, the Prime Ministers Office announced today. Unemployment In March 1959 totalled 1.46
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  • Article
    Lock icon 'Trade surplus will rise at slower rate'
    184 11 Reuter TOKYO, Tues. Japan will continue to have a large trade surplus In the coming months, although Its rate of Increase will level off, the Sahwa Bank said. It noted In a report, Japan's seasonally adjusted trade surplus during the first quarter of
    Reuter  -  184 words
  • Article
    Lock icon China shops for steel
    185 11 Reuter TOKYO, Tues. China has agreed In principle to buy about two million tonnes of steel products trom Japan for shipment in the first half of fiscal 1977, Nippon Steel Corp (NSC) said. A Chinese buying mission and Japanese steel mills have been negotiating here since
    Reuter  -  185 words
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      249 11 APPOINTMENTS ACCOUNTANTMANUFACTURING A manufacturing subsidiary of a well* established 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
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      191 11 A leading electronic manufacturing company wishes to engage a MARKETING OFFICER RESPONSIBILITIES a) Attending to trade enquiries, indenting of orders and follow up action. b) Marketing planning, sales co-ordination and related functions. REQUIREMENTS A degree in Business Administration or Economics with at least two years experience in related sales REMUNERATION
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  • Article
    Jakarta govt takes over Euroloan from Pertamina
    268 12 AMERICAN Express International Banking has reached agreement with the Indonesian Government for the assumption of the US$l5O million (***** million) Euro currency loan originally raised by the state oil company, Pertamina. The toan was originally provided In 1973. The new loan for UBll4B
    268 words
  • Article
    Major Hussein policy speech
    145 12 KUALA LUMPUR. Tues. —Prime Minister and acting president of the ruling United Malay National Organisation (Umno), Datuk Hussein Onn, Is to make an Important policy speech tomorrow at the 31st anniversary celebrations of Umno here. All Umno divisional leaders and heads of the various component parties
    145 words
  • Article
    MRS. B TOLD OF MUSLIM ISSUE
    215 12 COLOMBO, Tues. Philippine Foreign Secretary Carlos Romulo explained to Prime Minister Slrimavo Bandaranalke today the reasons for the stalemate In negotiations between, his Government and Muslim rebels fighting for an autonoirous region in the southern Philippines. Mr. Romulo told reporters before his departure for
    215 words
  • Article
    Lock icon Manila may face a sugar shortage
    170 12 Reuter MANILA, Tues. The Philippine sugar Industry sees a possible shortage of refined sugar on the domestic market because three of the country's five refineries are operating at less than their peak output, the Bulletin Today newspaper reported today. It quoted Industry sources as
    Reuter  -  170 words
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    Lock icon Threat to rice crops
    94 12 Reuter MANILA, Tues. A new strain of infectious gall disease. carried by brown planthoppers. Is threatening rice crops In the southern island of Mindanao, the Bureau of Plant Industry said. It did not say how many hectares were affected, but said the disease was stunt- ing
    Reuter  -  94 words
  • Article
    LONDON STOCKS
    741 12 LONDON. Tues. The stock market moved higher on lnsUtutional remand in fairly active trading. Stock shortage caused disproportionate gains but dealers took advantage of the Unilever first quarter report to mark prices a little lower. At 3.00 p m. the Financial Times index was up 8.8 at 403.0
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    Summit decisions to be raised at C'wealth meeting
    967 12 LONDON, Tues. The Downing Street declaration by leaders of the seven richest Industrialised nations Is expected to be a major topic for discussion at the next "summit" gatherIn* In London when the heads of government of 30 Commonwealth countries meet early next
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  • Article
    Lock icon 'Wrong to pressure the two'
    433 12 AP LONDON, Tues. US officials believe It was.a mistake to put continuing pressure on Japan and West Germany to trim their trade surpluses and expand their economies. "It became counter-pro-ductive, but It was not a mistake to start out with," said a US official who
    AP  -  433 words
  • Article
    Lock icon 'Double taxes a damper'
    90 12 Reuter JAKARTA, Tues. Indonesia has asked the United States government not to tax American oil companies operating here because It can affect their operation, according to the State Minister for Finance, Economy and Industry, Mr. Widjojo Nltisastro. He said after talks with Presldeht Suharto yesterday that
    Reuter  -  90 words
  • Article
    JSL must increase productivity
    52 12 JURONO Shipyard (JSL) must Increase its productivity to offset the large discounts that repair- yards give shipowners, in order to win contracts, according to Its senior general manager, Mr. T. Yano. Mr. Yano was speaking yesterday at the opening of the Managerial Staffs' Association's new premises
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  • Article
    Lock icon S. Arabia, UAE to go along with others
    181 12 Reuter JAKARTA, Tues. —Indonesian Mining Minister Mohammad Sadll said today there were indications that Saudi Arabia and the United Arab Emirates would eventually go along with the 11 member states of the Organisation of Petroleum Exporting Countries (Opec) which Increased their oil
    Reuter  -  181 words
  • Article
    Lock icon IRAN WILL SUPPLY OIL TO MANILA
    70 12 Reuter TEHERAN, Tues. Iran will sell the Philippines L 8 million barrel; of oil annually under a two-year contract signed here, a Philippine embassy spokesman said. The contract, based on Opec prices, was signed on Sunday between the stateowned National Iranian Oil Company (NIOC)
    Reuter  -  70 words
  • Article
    Lock icon AUSTRALIA MAY BE SITE FOR N-PLANT
    281 12 Reuter CANBERRA, Tues. Australia, which possesses 20 per cent of the Western world's known uranium reserves, could become the site of an enrichment plant to process nuclear fuel to serve energy-hungry Industry in Europt and Japan, according to Deputy Prime Minister Doug Anthony. He
    Reuter  -  281 words
  • Article
    Raja hits at 'curious' reaction to TV confessions
    185 12 FOREIGN Minister S.Rajartteim yesterday hit out at, the reaction of some highly educated minority of Singapore's population to the recent televised confessions of journalists and professionals ahout their involvement in attempts te overthrow established Governments. Describing the reaction as "somewhat curious", Mr.
    185 words
  • Article
    Lock icon Fukuda: A boost for free trade
    186 12 UPI TOKYO, Tues. Prime Minister Takeo Fukuda said today the seven-nation economic summit held in London last weekend was significant in helping maintain free trade In the world. Mr. Fukuda told a special cabinet session which he called after his return from London earlier
    UPI  -  186 words
  • Article
    Japanese coming to discuss closer links
    182 12 TWO delegates from the Japanese five-member mission, presently In the Philippines, will arrive In Singapore on Monday to hold talks on the possibility of greater technical cooperation between the two countries. The leader of the fivemember mission to the Philippines. Mr. M. Izlma, who
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  • Article
    STRIKERS CARRY ON PICKETING MB
    301 12 THE Singapore Metal Box Workers' Union will continue to picket the factory until Its grievances are resolved, despite the return-to-work ultimatum by the company. Mr. Wong Weng Fook, chairman of the SMBWU. told Business Times that the union will, however, not stop members from going
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  • Article
    Lock icon Firms back Carter's oil swap scheme
    278 12 AP WASHINGTON, Tues. Three of the largest oil companies In the United States hack President Carter's request for authority to make an International oil swap. Three Industry vicepresidents told a congressional panel yesterday It would be In the national Interest to ship Alaskan oil
    AP  -  278 words
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    Lock icon Seoul economy slowdown?
    180 12 UPI SEOUL, Tues. Despite active exports, South Korea's economy shows signs of slackening due to inactive domestic construction, a government report said today. The Economic Planning Board (EPB) said in a report to President Park Chung-Hee this may indicate t£at Korea's economy could undergo some difficulties during
    UPI  -  180 words
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      174 12 SEE PAGE 2 Improve office and factory efficiency with water coolers No longer a luxury but a 'must'. Phone EQIPNM iro SINGAPORE 60 ORCHARD ROAD A of Th« fr)p*c4p« Group imm SEC a BRIGHTER FUTURE in ACCOUNTANCY with FOULKS LYNCH Founded over a'century ago, Foulks Lynch the specialists in accountancy
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