The Business Times, 21 May 1977
1977-05-21
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The Business Times
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Title Section10 1977-05-21 1 BUSINESS TIMES M.C.(P) 300/1/77 SATURDAY, MAY 21, 1977 SO CENTS10 words
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NEWS IN BRIEF
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Article52 1977-05-21 1 SEVERAL cabin cruisers and speed boats were destroyed in a fire at the Kampung Arang Industrial area in Tanjong Rhu last night. Two factories, manufacturing paint and industrial oil, were also destroyed in the fire which lasted more than 11/*l 1 hours. Damage may run into several52 words
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Article33 1977-05-21 1 ENCIK Othman Wok has been appointed Singapore Ambassador to Indonesia. He succeeds Encik A. Rahim Ishak. As ambassador to Indonesia, Encik Othman Wok will continue to hold the rank of Minister.33 words
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Article63 1977-05-21 1 Reuter WASHINGTON, Fri. Japan today agreed to a 40 per cent slash in colour television exports to the United States over the next three years. Under an agreement signed here, Japan undertook to restrict exports to 1.56 million complete sets and 190,000 unassembled units each yearReuter - 63 words
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Article42 1977-05-21 1 LONDON, Fri. The stock market closed lower on a wide front due to end-account profit-taking, rights issue fears and the increased April retail price figures, dealers said. At 3.00 pm the Financial Times index was down 9.3 at 458.5.42 words
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Article62 1977-05-21 1 UPI TOKYO. Fri. Two days of talks between representatives of Japan and the European Economic Community on the problem of Japan's trade surplus ended today with agreements for further talks. About the only concrete results of the two-day conference were scheduling of a series of working levelUPI - 62 words
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Article68 1977-05-21 1 Reuter GENEVA. Fri. Senior Soviet and American officials held their third session of talks on a new Strategic Arms Limitation (SALT) agreement today as the pace and intensity of the discussions appeared to be accelerating. Secretary of State Cyrus Vance and Soviet Foreign Minister Andrei Gromyko metReuter - 68 words
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Article55 1977-05-21 1 AP STOCKHOLM, Fri. Scandinavian Airlines System (SAS) resumed its international flights today at nearly full scale following a settlement with striking cabin staff. Both the airline and 2,000 striking Swedish and Norwegian pursers and stewardesses accepted a compromise'proposal from a government mediator, avoiding a threatened grounding ofAP - 55 words
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Article83 1977-05-21 1 UPI NEW YORK. Fri. A depressing report from the Labour Department helped drive prices lower during the first hour today in active trading of New York Stock Exchange issues. The Dow Jones industrial average, which lost 5.43 points yesterday, was off 5.93 points to 930.55 shortly before theUPI - 83 words
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Chief Price Changes
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Article112 1977-05-21 1 Rises Most active Perak Carbide 0 88 V, Genting 3 60 YeaH.S. (M) 1.17 Castlefield 4.28 Lien Hoe 1.43 M Mosaics 1.09 Utd Plant 1.88 Carlsberg 3.70 Dunloplnd 3.20 Fusan 0 82 Falls Boustead 1.62 F and N 384 MA.A 1.48 M Rice 0.77 .14 .10 .10112 words
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Article, Illustration190 1977-05-21 1 SHARK prices finished a shade higher in moderate and selective trading at the Stock Exchange of Singapore yesterday. Attention remained focussed on the second and third liners. However, duev to marginal losses in the active finance shares, tflfe Business Times index dipped 0.42 point to 275.84 at190 words
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792 1977-05-21 1 EXPORTS TO UK ALREADY REDUCED SINGAPORE television manufacturers yesterday were dismayed to hear allegations that their sales to the UK are undermining British manufacturers' success in getting Japan to agree to restrict their TV exports to Britain. They say this accusation is unfair, particularly792 words
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126 1977-05-21 1 TOKYO, Fri. The International Monetary Conference's (IMCf-three-dav meeting herTffext week will consider the problem of developing country debt as one of four main topics on its agenda. At this Z4th annual general meeting of the IMC. the 100 commercial banks members will all126 words
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635 1977-05-21 1 Reuter UPI JAKARTA. Fri. Indonesia today announced it had decided to freeze Its oil prices until the end of the year with the hope of ending the current two-tier prices in world markets and restoring unity among members of the Organisation of Petroleum ExportingReuter; UPI - 635 words
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Article278 1977-05-21 1 AS forecast, Inchcape yesterday reported a hefty 62.7 per cent rise In 1976 group pre-tax profit to i $31.24 million. With the latest results, the company is now firmly on the road to recovery after having been on the decline for the previous two years. In278 words
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181 1977-05-21 1 THE International Monetary Fund's ninth monthly fold auction scheduled for une 1 will use the common price method to determine successful bids instead of the bid price mettiod used in the last three auctions. IMF has sent out invitations for the next monthly gold181 words
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223 1977-05-21 1 THE Court of Appeal yesterday heard that the $5.6 million award by the Collector of Land Revenue to the three parties affected by the compulsory Government acquisition of the old Robinson's fire site at Raffles Place, represented onethird of the value of the land "if223 words
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269 1977-05-21 1 THE Japanese Embassy in Singapore yesterday confirmed that Prime Minister Lee Kuan Yew will lead a delegation to Japan at the end of the month. The visit, scheduled from May 29 to June I, is an official one and Mr. Lee will be the269 words
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Article33 1977-05-21 1 wASffmCTON, Frl. Consumer prices jumped 0.8 per cent in April, the fourth straight month that food and energy costs have caused a strong inflationary surge, the Labour Department reported today.33 words
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431 1977-05-21 1 CHASE Manhattan Bank yesterday acknowledged that it was responsible for a major portion of the US$7.l million (5517.4 million)loan writeoffs reported by American banks operating in Singapore last year. Chase's general manager. Mr Peter Holzer told Business Times that USS3 million of the431 words
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140 1977-05-21 1 FOURTEEN international airlines, including Singapore Airlines, have reached an informal "gentleman's agreement" to stop the price war on the Singapore-Europe run. The other airlines are: Air Indla v Alitalia, British Airway*. Lufthansa. Malaysian Airlines System, Olympic Airways. Pakistan International Airlines. Qantas, Sabena,140 words
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Page 1 Advertisements
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Advertisement34 1977-05-21 1 8 years old at least! Market Reviews —P2 Oversea* Stocks Overseas News/TV' ft Commodities Radio P3 Transport 6 ComLocal Co News —P4 munications International Co Feature^ News —P5 Local Overseas l.ocal Stocks —PS News34 words
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Advertisement61 1977-05-21 1 We are the Rolex people in Singapore Come and see us! If you are thinking of investing in a Rolex, see our fabulous range of fine watches Eastern Watch Co. OFFICIALLY APPOINTED DEALER 285 South Bridge Road. Tel *****/***** Ground floor, Peninsula Shopping Centre, Coleman Street. Teh *****9 Ground floor,61 words
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Advertisement206 1977-05-21 1 [$/]`,-]+<!;^]\><]'-^/@~"-%>$(` OFFICE SUITES In The Central Business District (CBD) LKN Building Excellent new office building. Cecil Street Suites from 38 sq.m. to 546 sq.m./whole floor. (409' sq.ft. to 5,875 sq.ft.). Economical rental from $*1.40 p.sXYmonth inclusive. M.N.'B. Building Ist class office building with uninterrupted Robinson Road harbbur views. Suites from206 words
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MARKET REVIEWS
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Article560 1977-05-21 2 SECOND AND third liners had another good period of trading at the Stock Exchange of Singapore this week. On balance the market finished with an average gain of two per cent among the volatile stocks. Features were many and varied as the market slowly but steadily turned Its attention560 words
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Article426 1977-05-21 2 SHARE prices moved higher In fairly erratic btit active trading at the Kuala Lumpure Stock Exchange this week. Uncertainty ruled almost dally throughout the week as both speculators and dabblers and probably the syndicates who were credited with some of the action attempted to read the market conditions.426 words
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Article102 1977-05-21 2 THE market finished the week op a strong note today, led by speculative stocks. Uranium stocks firmed on rumours the Fox report on uranium would be released by next Wednesday, with Pancontinental rising 90 cents over the week $14.20, slightly below its peak of $14.50 yesterday, after some profit-taking.102 words
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606 1977-05-21 2 IVAN FALLON - LONDON By IVAN FALLON IN London for many years, there has been a stock market adage of "sell In May and go away". It was perhaps based on the fact that with the arrival of summer and the beginning of the606 words
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464 1977-05-21 2 LONDON Tin and the Unit Trust Association have got themselves into a fine old mess. Neither side has given way in their battle over terminal dividends from Southern Malayan and Southern Kinta and both have gone further down the collision path than either464 words
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Article180 1977-05-21 2 TINY Rowland is the most unpredictable businessman In Britain and quite possibly In the world. Only weeks after his Lonrho group has been granted exemption from the government stiff dividend controls (increases limited to 10 per cent per annum), he has made yet another UK180 words
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Article130 1977-05-21 2 THE impressive rise of rubber shares in Malaysia in the past few weeks has caught the London jobbers very short of stock. The London equity market is booming anyway and the sudden take-off of plantation shares and demand from the East have combined to leave the130 words
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341 1977-05-21 2 ARTHUR NG - Coinpiltj by ARTHUR NG OTHER ANNOUNCEMENTS Unllite Electric Industries Is negotiating a merger with < Philips (Malaysia) and the Malaysian Industrial 1 Development Finance. Haw Par (London) announced that Its convertible I holders have resolved to advance payment of Its dividends for341 words
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Page 2 Advertisements
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Advertisement289 1977-05-21 2 Business Times ii iW* a money-saving "t i I-' vn sf% bonus offer for all their advertisers Effective from now to September 30,1977 We have great news for all advertisers: From now to September 30, 1977, Business Times will offer advertisers a FREE additional insertion for every two insertions appearing289 words
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OVERSEAS
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377 1977-05-21 3 UPI MENTMORE, (England), Frl. To Judge by the amount of furniture flooding into "the sale of the century," there *must have been little room to move In the stately home known, as Mentmore Towers. Already two three-hour auctions of French furniture have skyrocketedUPI - 377 words
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1014 1977-05-21 3 DESPITE FASTER ECONOMIC GROWTH IN FIRST QUARTER WASHINGTON, Friday NYT Reuter DESPITE new government figures showing the economy grew much faster in the first quarter than had been originally estimated, a note of caution about prospects and a warning that unemployment mightNYT; Reuter - 1,014 words
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Article128 1977-05-21 3 Reuter WASHINGTON. Frl. The Carter Administration Intends to raise defence spending by nearly nine per cent annually over the next several years, the United States Defence Department said. Defence Secretary Harold Brown In a Brussels meeting of Nato defence ministers this weekReuter - 128 words
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536 1977-05-21 3 LONDON, Fri Reuter UK DOMESTIC money supply, sterling M 3, rose an adjusted 2-1/2 per cent In the five-week banking geriod ended April 20, the lank of England announced. Sterling M 3 rose 7-1/2 per cent In the year, well below the nineReuter - 536 words
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349 1977-05-21 3 AP SAN JUAN, Frl. A crippling drought has coat Puerto Rlcan farmers an estimated US$4O million (Ss96 million) In lost cattle and crop Income, the island's Agriculture Department announced yesterday The figures were released six days after Governor Carlos Romero BarceloAP - 349 words
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Article35 1977-05-21 3 AP SEOUL, Frl. Six European banks will slfn a contract to provide the Korea Exchange Bank with US$lOO million (***** million In a syndicated loan, the state-run Korean bank said today. APAP - 35 words
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249 1977-05-21 3 Reuter NEW YORK, Frl. Further significant alteration at European joint float central rate* may be needed in due courae, Morgan Guaranty Truet Co said. Thia is indicated follow. Ib| encouragement to Germany and Hollakd to let their currencies appreciate, the bank said in iU "worldReuter - 249 words
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Article39 1977-05-21 3 AP TOKYO, Frl. China and Czechoslovakia have signed a goods exchange and payments agreement for 1977, the official Hslnhua News Agency reported today. Hslnhua gave no details but said the agreement was signed In Prague yesterday.AP - 39 words
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282 1977-05-21 3 WASHINGTON, Fri A TOP United States State Department official said yesterday that foreign aid as most Americans have come to know and understand it massive transfusions of US capital and goods Is dead. "You have asked me to answer the question: Is foreign282 words
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Article283 1977-05-21 3 Reuter AP WASHINGTON, Frl. President Carter's proposal to reward buyers of petrolsaving cars, a key element In his energy conservation plan, Is doomed In Congress, Senate Democratic leader Alan Cranston said. The California democrat said Mr. Carter's plan to grant tax rebates to buyers ofReuter; AP - 283 words
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Article64 1977-05-21 3 Reuter MONTEVIDEO, Frl. Uruguay's Central Bank said it devalued the peso by 2.8 per cent, fixing a new commercial rate of 4.50/ 4.55 pesos to the dollar compared with 4.38/ 4.42 previously. It was the seventh minidevaluation of the peso this year. On the financial market the pesoReuter - 64 words
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184 1977-05-21 3 AP WHITEHORSE, (Canada), Frl. Hydroelectric power would be available in Alaska under a plan drawn up for a Canadian inquiry on the proposed route for North slope natural gas, a backer of the proposal says. Mr. James Ryan, chairman of the Yukon Research and DevelopmentAP - 184 words
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Page 3 Advertisements
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Advertisement185 1977-05-21 3 One source of expertise and supply, one source off service... for the building construction and engineering industries off Singapore. Co-ordination is extremely important in the planning and construction of any modern building it can mean savings of both time and money and can avoid the inconvenience of having to contact185 words
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Page 3 Miscellaneous
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Miscellaneous363 1977-05-21 3 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on May 20 at Singapore airport. Maximum Temperature 32.4° C Associated Humidity 68 Minimum Temperature 25.5° C Associated Humidity 95 Hours of Sunshine 9.10 Rainfall in Millimetres Nil Total Rainfall for the Month 117.7 Total Rainy Days for the363 words
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COMPANY NEWS
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292 1977-05-21 4 MALAYSIA Rice Industries has Anally completed the sale of Its second piece of land in Petallng Java to a subsidiary of Malaysian Containers for a cash consideration of Mi 1.76 million. A profit of 1794,000 from this sale of $794,000 coupled with a292 words
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Article641 1977-05-21 4 Current Ex Date Total for Total for payment Date payable the year previous yei Per lis Plant 10%e Mar 21 May 21 10%e 7.5%TE Kuchai 10% Apr 26 May 2? 10% 10% 9el. PropcrtlM 8% Apr 28 May 24 16% 16% National Iron 5%TE May 8 May 26641 words
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Article241 1977-05-21 4 PINEAPPLE Cannery of Malaysia, a subsidiary of Pima, has made a satisfactory recovery In the final quarter of last year, said Flma's managing director, Encik Rami! Kushalrl If the company could maintain a similar performance during the first three months of the current year and241 words
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COMPANY MEETINGS
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Article27 1977-05-21 4 THE following company meetings are due: May 21, 10 a.m.. Registered Office, Foh Chong Building. Room 2, 6th Floor, Jalan Ibrahim, Johore Bahru.27 words
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Article13 1977-05-21 4 May 21,11 a.m.. at Rasa Sayang Hotel, Batu Ferlnggl. Penang.13 words
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Article24 1977-05-21 4 May 25, 10.30 a.m., Registered Office, at Messrs Tan Toh Hua Partners, Penthouse Wlsma Mlrama, Jalan Wlsma Putra, Kuala Lumpur.24 words
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15 1977-05-21 4 National Iron Steel Mills Ltd.: May 26,2.30 p.m., DBS Building, 6 Shenton Way, Singapore 1.15 words
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18 1977-05-21 4 May 27, 10.30 a.m., Registered Office, No. 31, Shipyard Road, Jurong Town, Singapore 22.18 words
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Article15 1977-05-21 4 May 31, 12 noon at Ist Floor Maritime Building, Collyer Quay, Singapore.15 words
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Article14 1977-05-21 4 June 3, 12 noon at Registered Office, 310 Orchard Road, Singapore.14 words
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1031 1977-05-21 4 BOUSTEAD Holdings' successful negotiations with the Malaysian Government on bumlputra participation In the company has paved the way for the future expansion and growth of the group. Last December, the company agreed to issue 5.72 million shares of M5O cents each to two Malaysian1,031 words
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557 1977-05-21 4 WORLDWIDE holdings has at last found a buyer for its ill-fated Investment in Florida property concern. Overseas United International B.A. (OUI). In a statement to shareholders, the company says it has received an offer for the 350.000 OUI shares from Central Finance S.A.557 words
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Article986 1977-05-21 4 LEONARD SILK - By LEONARD SILK NYT WHENEVER the Federal Reserve systems top policymaking body, the 12-man Federal Open Market Committee meets as It did on Tuesday this week, scores of stockbrokers, bond dealers, investment counsellors, economists, bankers and other members of the clan of FEDwatchers seek to penetrateNYT - 986 words
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387 1977-05-21 4 FOR the third successive year, Dresdner South East Asia has made creditable profits from Its merchant banking operations. The wholly-owned subsidiary of the West German Dresdner Bahk group. Incorporated In Singapore In mid-1973, recorded a 19 per cent increase in after tax profit to387 words
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Article37 1977-05-21 4 Far East Trade Press of Hongkong, has announced the appointment of Mlm Ong Chwee Lay as their Singapore Manager from May 1 1977. She replaces Luis Nunez who has recently returned to the Philippines.37 words
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Article1501 1977-05-21 4 On May 19 TRADING In options on the Chicago Board Options Exchange came to 80,660 contracts on Thursday compared with 105,004 contracts on Wednesday. OPTION JLY OCT JAN STOCK Alcoa SO 8 3/4 9.1/8 UNTRD 58 1/2 Alcoa 80 1 11/18 2 1/2 3 5/8 58 1/21,501 words
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Page 4 Advertisements
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Advertisement199 1977-05-21 4 G3ve us a man fora monthwell give him a language for life Inßngiiin now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency in199 words
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348 1977-05-21 5 NORTH AMERICAN COMPANIES Reuter XEROX president Mr. Archie McCardell told the annual meeting he expects second quarter earnings to top the year-ago record UBtlo3 million ($1.29 a share). The second quarter Is expected to be the most profitable of any three month period In theReuter - 348 words
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177 1977-05-21 5 Reuter THE CHEMICAL BANK OF NEW YORK, the fifth largest bank in the country, was defrauded of more than US$5 million by three Oklahoma businessmen, according to federal Indictments disclosed yesterday. US prosecutor Mr. Robert B. Flske Jr. disclosed the indictments in Federal Court.Reuter - 177 words
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Article169 1977-05-21 5 Reuter TAUBMAN ALLEN IRVINE yesterday raised the stakes In bidding against Mobil, the oil giant, for 31,565 hectares of undeveloped land in Orange County, California, south of Los Angeles. The company offered U*****.4 million, or $40.10 a share, to acquire the Irvine Co, theReuter - 169 words
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172 1977-05-21 5 Reuter SOUTHERN PACIFIC expects second quarter net Income "will be a bit better than the US$3l million or $1.16 a share that we recorded last year," chairman Mr. Benjamin F. Blagglnl told the annual meeting. Mr. Blagglnl noted Southern Pacific had reported record firstReuter - 172 words
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Article138 1977-05-21 5 Reuter Reuter THE Arabian-American Oil Co (Aramco) said the fire at its Abqalq oilfield in Saudi Arabia caused losses estimated at about US9IOO million. Aramco vice-president, Mr. George Larsen, In a press statement, said committees have been formed by the company and the Government to investigateReuter - 138 words
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Article74 1977-05-21 5 Reuter FORD MOTOR will have a total of 5,675 workers Idled at three small car plants next week in order to cut Its inventories. The company said it had 2,675 workers Idle this week for the same reason. Facilities to be closed next week are theReuter - 74 words
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Article37 1977-05-21 5 AMERICAN AIRLINES Chairman Mr. Albert Casey said it would be inappropriate to seriously consider a cash dividend at this time. Mr. Casey made the comment in response to several shareholder questions at the annual meeting.37 words
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102 1977-05-21 5 Reuter TEXACO has Issued force majeure notices to Its customers in accordance with terms of its various contracts. Texaco said this is due to the recent oil pipeline delivery interruptions related to fire in the Arabian-American Oil pipeline In Saudi Arabia. The company addedReuter - 102 words
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Article75 1977-05-21 5 Reuter COMMONWEALTH EDISON said the Initial public offered price for the previously announced sale of Its new common stock was set at USS29S a share. The six million share offering, which was subject to regulatory action, began yesterday. The proceeds from the sale will be used principally toReuter - 75 words
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178 1977-05-21 5 Reuter THE strong recovery in sales and earnings at Allied Chemical that began In March is continuing in the second quarter, president Mr. Robert E. Mulcahy said. Addressing a meeting of security analysts here, Mr. Mulcahy suggested earnings in the second quarter would exceed byReuter - 178 words
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Article323 1977-05-21 5 Reuter EXXON has set a goal of producing 40 million tonnes of coal a year by 1985, chairman Mr. C.C. Garvin said. "That is our objective," Garvin said but "attaining It will depend on a lot of things." The company over a 50 year periodReuter - 323 words
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Article59 1977-05-21 5 Reuter FLUOR said its British subsidiary was awarded a contract by Imperial Chemical Industries to design, engineer, and procure the aiulpment for two chemical ants at Wilton, Teeslde in north-east England. ICS has estimated the cost of the project at US$24O million. Value of the contract to FluorReuter - 59 words
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Article561 1977-05-21 5 JAMES OUTMAN - JACKPOT ON WALL STREET By JAMES OUTMAN Reuter MR. ROBERT METZ believes Investors, not their brokers, should be buying yachts. Mr. Metz, columnist for the New York Times and author of a new how-to stock market book titled "Jackpot! Everything you need to know about smart moneyReuter - 561 words
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Article175 1977-05-21 5 EUROPEAN COMPANIES Reuter ROME, Frl. Esso Italiana Is still losing five to six billion lire a month because of high interest charges on outstanding debt, vice president Mr. Frederlco Wlsxner told a press conference. Debt Is now about 380 billion lire, against a peak of overReuter - 175 words
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Article97 1977-05-21 5 Reuter RUEBBELSHEIM, Frl. General Motors Unit Adam Opel will Invest five billion marks for 1977 to 1982 on its works at Ruesselshelm, Bochum, Kalserslautern and Berlin, Opel managing director Mr. James Waters said. Satisfactory 1976 results and motor market development led to this decision, whichReuter - 97 words
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Article83 1977-05-21 5 Reuter LONDON, Frl. Union Electrica, a private Spanish utility, is raising US$5O million through a six year loan being syndicated in Eurocurrency markets, informed Euromarket bankers said. The loan follows an $80 million credit for Fuerzas Electricas de Catafuna (Fecsa) which was signed last week after theReuter - 83 words
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Article30 1977-05-21 5 Reuter STOCKHOLM, Frl. Svenska Taandsticks has postponed Its planned study of possible merger with Sweden's Kemanord chemical group, board chairman Mr. Lars-Erik Thunholm told a press conference. ReuterReuter - 30 words
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Article88 1977-05-21 5 Reuter PARIB, Frl. Det Ostaslatlske Kompagnl (Holdings) East Asiatic made a gross profit of 17.54 million Danish crowns for the year ended April 30, 1977. No comparative figures were available. The profit comprise receipts of 16.8 million crowns from Its operating company's proposed 12 per centReuter - 88 words
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Article96 1977-05-21 5 Reuter AMSTERDAM, Frl.. Bank Voor Nederlandsche Oementen plans to float an eight per cent, 25-year debenture loan of between 150 million and 200 million guilders, at a price to be set no later than May 25. Redemption will be in 15 nearly equal annual Instalments, startingReuter - 96 words
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245 1977-05-21 5 ASIAN COMPANIES Reuter HONGKONG, Frl. Well Informed broking sources told Reuters the offer for sale to the public of Swire Properties snares will be at a subscription price of HK52.75. The sources also said Swire Properties' share exchange offer for Swire Cheung Development willReuter - 245 words
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Article160 1977-05-21 5 Reuter TOKYO, Frl. Toho Zinc £lans to produce more than ),000 tonnes of zinc and 6,000 tonnes of lead from zinc leach residue over the next 10 years, starting from September. The residue, which con- tains 20 per cent zinc and six to seven per cent lead,Reuter - 160 words
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134 1977-05-21 5 Reuter HONOKONO, Frl. Hongkong Shanghai Banking general manager Mr. John Boyer has denied a report In a local financial publication the bank sold Its take In Hutchison International. Mr. Boyer was asked by Reuters to comment on a report in the publication "target"Reuter - 134 words
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Article121 1977-05-21 5 Reuter Reuter TOKYO, Frl. Jusco plans to issue a US$4O million convertible Eurobond In the near future. A spokesman for the Japanese retail group said It has obtained consent from the Japanese Finance Ministry and negotiations with an underwriting group are in progress on detailed terms. TheReuter - 121 words
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Article27 1977-05-21 5 LONDON, Frl. The Jardine, Matheson (Bermuda) HK$2OO million 7V4 per cent bond Issue due 1985 was priced at par, lead manager Jardine Fleming International said.27 words
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Article54 1977-05-21 5 Reuter LONDON, Frl. Pakistan International Airlines has been granted a six-year UBsl2 million syndicated loan, Amex Bank said. The loan carries Interest at 2fc per cent above London Interbank Eurodollar offered rates. The loan was managed by Amex Bank and National Development Finance, Karachi, with American ExpressReuter - 54 words
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Article180 1977-05-21 5 UPI TOKYO. Ftl. Japanese police raided 10 offices of Bestllne Products (Japan), a Hongkong-baaed seller of detergents, on suspicion of violatuv Japan's door-to-door sales law. Officers and employees of the firm being Interrogated by police, but were not under arrest. The firm's Japan representative Is Mr.UPI - 180 words
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208 1977-05-21 5 UK COMPANIES Reuter LONDON, Fri. Pre-tax profit at Beecham Oroup jumped to £126.8 million on group sales of £720.8 million for the year ended March 31, 1977 from £91.2 million on sales of £568.6 million previously. This raised earnings per ordinary share to 47.8 penceReuter - 208 words
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148 1977-05-21 5 Reuter LONDON, Frl. Cad bury Schweppes chairman, Mr. Adrian Cadbury said 1977 results should compare favourably with 1976 because of a more normal tax charge and reduced extraordinary items. He told the annual meeting business Is on course so far this year with first quarter figuresReuter - 148 words
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Article112 1977-05-21 5 Reuter LONDON, Frl. For the first half-year ended March 5, 1977 Rank Hovls McDougall has made a pre-tax profit of £20.88 million on external sales of £560 million compared with £19.68 million and £442 million previously. Earnings per share came to 3.4 pence against 3.3p lastReuter - 112 words
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204 1977-05-21 5 Reuter LONDON, Frl. MEPC Is negotiating the sale of Its 65 per cent stake in MEPC Canadian Properties to a group of Canadian pension funds for C 513.6 cash per share. No binding agreement has yet been reached and the sale, If proceeded with,Reuter - 204 words
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Article95 1977-05-21 5 Reuter LONDON, Frl. Trafalgar House made a pre-tax revenue of £21.01 million on sales of £250 million for the first half-year ended March 31, 1977 compared with £14.01 million and £250 million previously. Earnings per share were B.4pence against six pence. The company said sales in theReuter - 95 words
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Article84 1977-05-21 5 Reuter LONDON, Frl. The Municipality of Sharjah raised US$2O million through a five-year syndicated loan. Orlndlay Brandts said as agent bank. Proceeds will be used partly to refinance and partly to cover new costs for a new market project In Sharjah. Market sources said they believeReuter - 84 words
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86 1977-05-21 5 Reuter HOUSTON, Frl. Mr. Jorge Diaz director general of Petroleos Mexlcanos (Pemex). Mexico's stateowned oil company, said six offscore drilling units from the US will be used with Pemex's three drilling units to help develop Mexico's offshore petroleum resources. Five will work In theReuter - 86 words
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Article80 1977-05-21 5 Reuter LONDON, Frl. Morgan Grenfell said it has arranged a US$4O million syndicated credit for the ruler of Dubai, Rashld Bin Sa'ld A 1 Maktoum to finance the purchase of capital equipment from the UK for a gas plant to be built In Dubai. The loanReuter - 80 words
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Article66 1977-05-21 5 Reuter LONDON, Fri. The International Resources and Finance Bank, a new Arab International bank, has commenced banking operations. The bank is headquartered In Luxembourg and has a branch office In London. It Is wholly owned by the Arab International Trust of Luxembourg In which the BankReuter - 66 words
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Page 5 Advertisements
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Advertisement47 1977-05-21 5 ACKNOWLEDGEMENT The Chairman and Board of Directors wish to thank His Excellency, Mr. Rahim Ishak, Singapore Ambassador to Indonesia for officiating the opening of our Jakarta Representative Office and all Well-Wishers for their kind messages of congratulations. ASIA COMMERCIAL BANKING M) CORPORATION LIMITED INCORPORATED IN SINGAPORE SPffV47 words
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Article2157 1977-05-21 6 1*77 Hid> Low CMMaay Laat aai* +«r- Div e'yr <**• Net P/E V«1 (*660) Day High Lam 8BCTION ONE INDUSTRIALS 146 133 204 76 212 101 1M* 163 219 < 392 136 ir 204 58 212 57 155 152 182 350 Acma Acma A Alcorn Allied Choc2,157 words
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Article1183 1977-05-21 6 BID and offer prices officially luted and business in and reported to the Btoe* 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 Suoted after the word "Sett." tig Board1,183 words
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Article1202 1977-05-21 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 AJlnamata (1MB), XD. Alaam (1.808). A. CUM (0.7 M) (3) O.TS.1,202 words
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Article102 1977-05-21 6 STRIKING price® of the stoch option* officially listed oa the Stock Exchange of Siagapore, the periods. Ma and offer prices aad business done yesterday, with the number of option* traded shown la brackets. DBS (June $3.80) (0.208) (Dec $3.80) (0.348 0.368) (5) 0.34 Inchcapa (June $2.40) (0.0 4WB102 words
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Article153 1977-05-21 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Manager*' price* i for May 23) (Current price*) The Commerce 1.64 1 73xd INCOME BOND 1 OS 1.11 The Saving Fund S pore Prog Fund S'pore Security Mind 0 89 0 94 0.81 086 MARA BUMIPUTRA FUND (Manager*' price* for May 23)153 words
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Article158 1977-05-21 6 B O T 7 5/8% IM4 (100,000) (98KB 98*8) B O T 8 1/2% IMI (100.000) (102 V%B 102HS) D B 8 8 1/2% 1982 (100,000) (100 KB 1018) DBS Converts 6 1/2% 1991 (100,000) (97K8 98 KS) E I B 9% I*B2 (100,000) (103 KB 103H8) E158 words
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Article105 1977-05-21 6 5 1/2% 1/V7B (250,000) (101.488 101.558) 5 1/2% 15/4/78 (250,000) (101.35B) S 1/4% 15/7/78 (250,000) (101.468 101.558) 4 3/4% 15/7/79 (250,000) (100.728 100.808) 7% 1/7/79 250,000) (104.658) 5 1/4% 15/10/79 (250,000) (101.70B) fi 3/4% 15/5/80 (250,000) (103.30B) 3/4% 1/12/80.(250,000) (103.30B) 5% T F 15/4/81 (250,000) (101 428) 5%105 words
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Page 6 Advertisements
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Advertisement218 1977-05-21 6 ;i*.. WW f". ■?%&£<*. ■W* j v Alex Jotey has long been an observer, recorder and commentator of the Singapore scene. In this new book, he examines and explains the success of Singapore's tripartite alliance of Government, workers and employers. A substantial part of the book is devoted to the218 words
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Article, Illustration667 1977-05-21 7 PRICES finished a abode higher ia moderate aad •elective tradiag at the Stock Exchange of Singapore yeeterday. At this stage, the market appeared to oe rather uapertain with moat of the bettor claae etocka still in the process of consolidation. There was, howaver, some sign of the667 words
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Article378 1977-05-21 7 SHARE prices edged marginally higher In fairly active trading at the Kuala Lumpur Stock Exchange yesterday. With the overnight selling held at bay, speculators were back in action again prompted by a certain amount of short-covering. Trading remained widespread especially In the Industrial sector where a378 words
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INTERNATIONAL STOCK MARKETS
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Article369 1977-05-21 7 HONOKONO: Share prlcea drifted lower In quiet trading on lack of Interest, dealers mid on Friday. The Hang Seng Index fen 1 JO points to cloee at 443.97. Blue chip* showed the most marked loaaes, with Jardlae Mat keen losing 20 cento to $1630 and Swfcv Pactfle 20 cento369 words
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Article479 1977-05-21 7 TOKYO: Prices closed slightly higher In very limited trading with buying centring on speculative Issues, dealers said on Friday. The Dow Jones average gained 3.28 to close at 5,027.60 with volume 100 million shares. The New Index closed at 3T7.89, up 0.76. Investors were reserved ahead of a crop479 words
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Article382 1977-05-21 7 SYDNEY: The market cloaed little changed with banks firms and mines mixed. In active trading, dealers said on Friday The Sydney All-Ordinaries index rose 1.50 to close at 469.57. BHP cloaed six cento firmer at $7.10 after and easier opening. Among active banks the Natiaaal rose one cent to382 words
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Article159 1977-05-21 7 MANILA: The market eased In continued sluggish trading dealers said on Friday. Minings and oils lost ground while commercials posted minimal gains. Total turnover vas 1.89 million pesos compared with Thursday's 1.87 million. Oriental B was firmed, but Acoja Mining, Lepanto B, Marinduqoa B, PhilM A and B, and159 words
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Article97 1977-05-21 7 Asia Fibre 165 207 m •Ml +2 •1 i i. 1.1 mm politan Bulk 4418 Bern Jucker 291 unch Charoonf Thai Wire 152 Dumex DusltThani Vakaf Uarlln r lOci nerun First Trust Indo-Thai 1856 +5 Industrial Finance Corp UN unch J And J Ho 210 Jalaprathan Cement 111 -197 words
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Article155 1977-05-21 7 MILAN: Stocks rose In moderate dealings, bourse sources said, on Thursday, backgrounded by continued government affirmations of plans to avoid double dividend taxation by Introducing a tax credit system. Aaicurasioal GiaweH, Oea wale lmmobiliare, both OUvettfc and both Pirellie were among leading stocks to gain. Aak lost ground against155 words
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Article290 1977-05-21 7 TORONTO: The market overcame afternoon softness and consolidated opening gains to close slightly higher In moderate trading on Thursday. The composlt Index was up just over one point and advances led declines 190 to 186. Grafton Group eased 1/8 to 20 on lower first quarter results and (Jailed Caaao290 words
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Article1139 1977-05-21 7 NEW YORK: The stock market, stumbling over some profittaking and renewed concern about Interest rates, reversed a four-day-old rally to finish. lower in active trading on Thursday. The market beaan losing pound at around z pm after Federal funda the key money msrket rate moved up to 5-3/81,139 words
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Article80 1977-05-21 7 FINANCIAL TIMES INDUSTRIALS Thursday 487.8 Wednesday 477.4 Week Ago 470.2 DOW JONES AVERAGE INDUSTRIALS Thursday 936.48 Wednesday 941.91 Week Ago 923.54 LONDON DOLLAR PREMIUM Thursday 113* to 113* Wednesday 117* to 118 H.K. HANG SENG Thursday 445.98 Wednesday 477.38 Week Ago 450.91 SYDNEY INDUSTRIALS Thursday 378.52 Wednesday 377.29 Week80 words
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Article1039 1977-05-21 7 ART GARCIA - MARCHING ON By ART GARCIA F.T. OPPORTUNITY knocks and, more and more across Europe and the U.S. it's a representative of Dart Industries at the door. Once strictly a retail drugstore chain, Dart has parlayed Its concept of direct selling Its lines of consumer products in theF.T. - 1,039 words
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Article504 1977-05-21 7 ROBERT METZ - By ROBERT METZ NYT I "DREAD-DISEASE In- > surance policies are not in j the best financial Interests I of the Individual," an ln- surance stock analyst said the other day, thus putting J himself In the camp of ln--1 surance departments of many states, Including New York.NYT - 504 words
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Page 7 Advertisements
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Advertisement176 1977-05-21 7 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who176 words
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COMMODITY REPORTS AND PRICES
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Article741 1977-05-21 8 OPENING quotations in the Singapore rubber market yesterday were unchanged following slightly higher London advices and the market was idle and featureless on the lack of interest. Past mid-day, {>rlces fell back on some ong liquidation, dealers said. Turnover was small. Forwards were very quiet.741 words
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Article29 1977-05-21 8 Rubber: May 20 Singapore: June 193.25 cU (down 2.00 cU.) Malaysia: June 194.75 eta (down 1.75 eta) Tin: 91.400 (uncfa) Official offering: 175 tonnea (down 40 tonnee)29 words
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Article266 1977-05-21 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YEBTERDAY. Coconut Oil: Bulk $97 sellers, old drum 1102'•i sellers, new drum $107V> sellers Copra: Mixed (loose) UK/ Cont $62 buyers. Pepper Muntok AST A white f.o.b. 100% NLW $382'. sellers. Sarawak white fob 9#% NLW $362". sellers. Sarawak266 words
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Article122 1977-05-21 8 THE following palm oil prices were prices are elf Rotterdam and are quol auoted in London on Thursday. The ted in US dollar per ton unless otherwise stated. Thursday Prev. Malaysia 5% ffa bulk July Aug 670 sir 650 sir Sumatra a** May 677.50 sir 672.50 sir June122 words
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Article101 1977-05-21 8 R-A.S. JUM (Current Mth) (Forward Mth) Buy* ra Seller* Buycri I Seller* to per kg) tea •to par kg) (cea SSR20 (1 ton PalVtl 192.50 193.SON 194.00 195.OON SSR50 (1 ton Pallet) 190.00 191 .OON 191.50 192.50N M.R.E.L.B. (1-ton Pallet) SMR 5 CV 218.00 220 00N 220101 words
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Article121 1977-05-21 8 HONGKONG, Frl Cotton futures eased on lack of buying Interest to ctose slightly higher on balance, after a firm opening In line with New YOrk, dealers said. October lost 0.36 US cents, but other months rose by 0.10 to 0.17 cents. Trading was most active In December and121 words
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Article134 1977-05-21 8 LONDON, Frl. Sliver showed gains of 0.8 to 1.6 pence per troy ounce in the morning. The market ruled steady under light covering prompted by higher gold and the trend In most of the base metals, dealers said. Three Months closed at 280.5 pence. Carries formed the greater part134 words
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Article57 1977-05-21 8 LONDON. Frl. Lead rose by mostly £5.50 per tonne In the morning. The market gained ground on modest covering operations which reflected the recovery In copper and expectation of a moderate fall In stocks this week, dealers said. Three Months traded in the early pre-market at €368 and worked57 words
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Article56 1977-05-21 8 LONDON, Fri. Zinc softened by mostly £1 per tonne In the morning. Values were relatively steady during slow premarket and ring dealings In the absence of fresh lncen- tives, dealers said. Three Months traded upto £353 In the ring but was shaded to £351 finally on the kerb. Sales56 words
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Article321 1977-05-21 8 IN the Singapore gold market yesterday, the kilobar was traded In the range of 5J11.735 to 8911.745. The loco London gold was quoted at U*****.00/147.40, with limited business being transacted. The London morning fix was U*****.05 up 20 cents from the previous fix. Retail prices per tael quoted by321 words
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Article175 1977-05-21 8 THE Straits tin price In Penang yesterday was unchanged at $1,460 on an official offferlng down 40 tonnes to 175 tonnes. In LONDON, yesterday, tin steadied by mostly £42 per tonne In the standard contract. Cash was up by £42 for high grade and £37 higher for Three175 words
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Article272 1977-05-21 8 LONDON, Frl. Copper wirebars finished the morning with gains of mostly £7 per tonne. A firmer tendency emerged aided by the relative steadiness at New York and general weekend covering and booksquarlng following the general decline this week, dealers said. In the pre-market. Three Months traded upto £823 per272 words
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Article189 1977-05-21 8 CHICAGO, Frl After the May contract went off the board with a loss of 24 cents a bushel yesterday, other old crop soybean futures closed 18 1/2 and 14 1/2 cents lower while new crop months finished 1/2 to five cents higher. Early weakness In the May, as It189 words
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Article101 1977-05-21 8 CHICAGO, Frl. Wheat futures closed 1 1/4 to 1 1/2 cent a bushel lower on a thin trade yesterday. The May expired at noon with a 3/4 cent gain. Price moved to both sides of the previous close In a narrow trading range. Light speculative buying was encouraged by101 words
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Article393 1977-05-21 8 QUIET and easier conditions have prevailed during the period, lopping some four cents off the markets, which were lacking In feature and news, said Holiday, Cutler and Bath in its weekly rubber market review. The continued decline of London, with Tokyo also down, brought out393 words
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Article247 1977-05-21 8 LONDON, Frl. Terminal In the morning opened quiet on lack of news, with prices steady on light short-cover-ing at £0.55 to £0.85 higher than yesterday's levels. Sales were only 178 lots. Dull trading conditions persisted throughout the morning and prices held steady In light switching operations to finish £0.60247 words
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Article268 1977-05-21 8 LONDON, Frl. Terminal advanced on a continuation of yesterday's late buying interest helped by a firm New York close. Prices closed the morning opening session mostly £65 (Sep £3,578) to £20 per tonne above last night with untraded Spot May gaining exceptionally £110. Call volume was 349 lots and268 words
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Article219 1977-05-21 8 BANGKOK, Frl. Indicative prices for rice quoted In Bangkok were: In HONGKONG, the market was slightly easier with broken rice up to 90 cents per picul lower, dealers said. Turnover totalled 341 tonnes comprising Thais 119 tonnes, Kwangtungs 172 and Australias 60. The only arrival was 330 tonnes of219 words
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MONEY AND EXCHANGES
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Article552 1977-05-21 8 BORROWERS of US dollar in the Singapore ACU/USS counter saw desperate moments when the rates shot up by about 1/8 1/4 of a point across the board yesterday. From the opening of about 1/16 to 1/8 of a point higher from Thursday's close, the market saw a temporary shortage552 words
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Article169 1977-05-21 8 Asian rates ASIAN currency deposit interbank rules u at clow on May 20 L'SDollai Ofhr ra(Spel) BW 7 days 5 9/16 5 7/18 1 mth 1/16 5 15/16 2mthi 5 15/16 5 13/16 Smths 1/8 8 6 mths 1/2 6 3/8 8 mths 6 »/l« 6 7/16 12 mth* 11/16169 words
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Article46 1977-05-21 8 RANOE of price* ottered by discount houses on May 20 Overnight 3S Call deposit 3* Omimg Buy MUac 3-month Treasury bills 3 7/S 3- Month Bank Mils 4 3 7/j 3-Month CD 41/4 41/| •-Month CD 4 7/16 4 5/16 Source: National Discount Co Ltd46 words
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Article153 1977-05-21 8 Euro rates LONDON. F*i. Eurodollar deposit rates hardened 1/16 to 1/8 In line with the rise In the fed funds rate to 5 Mi per cent, dealers said. Period funds were moderately bid at the outset but Interest has since slackened and rates show Uttle material change from openings, dealers153 words
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Article190 1977-05-21 8 LONDON, Fri. Sterling drifted lower in generally quiet early trading, dealers said. The pound moved to $1.7175/ 77 after opening at $1.7176/ 78 and compared with $1.7179/ 81 overnight. Some modest early selling of sterling, encouraged by hleher Eurodollar rates, helped the US currency, they said. The trading pace190 words
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Article168 1977-05-21 8 NEW YORK, Frl. The dollar closed stronger yesterday, after a thin trading session following a substantial upward revision in US first quarter real Gross National Product, dealers said. In addition, a rise In the federal funds rate from the recent assumed Federal Reserve target level raised expectations in168 words
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Article74 1977-05-21 8 Towards the close, however, the currency recovered as Japanese banks bought forward dollars to meet demand ahead of yen-bond Issue soon by the Finnish Government, dealers said. Dollars for Immediate delivery closed at 277.50 at yesterday's close. Combined spot trading volume was $204 million. Forward dollar rates tended to74 words
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Article129 1977-05-21 8 HONGKONG. Frl. The US dollar firmed against the Hongkong dollar to be quoted In late trading at HK54.6930/50 from yesterday's late $4.6860/80, In quiet trading, dealers said. They said the further strengthening of the US unit was due to purchases for the new Hongkong dollar-denominated bond issues, which are129 words
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Article114 1977-05-21 8 RESULTS of tender held on May 20, 1977 for 91-day Treasury bills to be Issued from May 23 to 27. Offered: $30 million Applied for: $57 million Alio ted. $30 million Accepted bids: $99.26(approximately 45* higher bids In full.) Average rate of discount on allotment: 2.940% pa.114 words
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Article51 1977-05-21 8 AUSTRALIA/NZ exchanges quoted on May 20 Australia: Sterling 0.6460/ 0.6390 US dollar 1.1063/ 1.1015 Ninety-day air mall buying rates: Sterling 0.6641 US dollars 1.1316 Ninety-day forward buying rates: Sterling 0.6428 US dollars 1.0945 New Zealand: Sterling 0.5600/ 0.5569 US dollar 0.9666/ 0.9566 Ninety-day forward rates: Sterling 0.5771 US dollar51 words
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Article33 1977-05-21 8 FRANKFURT exchanges opening quotes on May 20 US 2.3582/92 Can 2.2480/2500 UK 4 .05/06 Neth 96.07/17 Swltz 93.50/60 Italy 2.662/672 France 47.60/70 Norw 44.63/71 Belg com 6.528/538 Belg fin 6.525/545 Japan 0.8502/1233 words
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Article14 1977-05-21 8 THE Zurich exchanges were closed on May 19 for the Ascension Day holiday.14 words
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Article316 1977-05-21 8 LONDON, Frl. Dollar bonds were basically unchanged In dull trading following the holiday In Europe yesterday, dealers said. Convertibles were relatively active In mixed to lower trading with no real features. LONDON Eurobond prices quoted on May 20 Straights BM OChr Austria 844 90 101* ***** Bell Canada316 words
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Page 8 Advertisements
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Advertisement225 1977-05-21 8 FOULKS LYNCH-LONDON in association with FEDERAL PUBUCAnONS is pleased loanneunce the inauguration of a local home study centre that will be of special benefit to all accountancy students in South East Asia. Combining the international experience of Foulks Lynch with the specialised local knowledge of Federal Publications, this new service225 words
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TRANSPORT AND COMMUNICATIONS
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Article427 1977-05-21 9 NEW YORK, Friday UPI THE entire global travel business is swinging in the direction of group Journeys by charter flight and away from individual travel, a senior vice-president of American Express believes. To capitalise tills trend, American Express is offering United States travel agents aUPI - 427 words
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671 1977-05-21 9 HONGKONG, Friday Reuter TAIWAN has begun to expand Its merchant fleet with a programme of shipbuilding for national flag carrying shipping lines, Informed shipping sources said here. They said the plans will boost Taiwan's shipbuilding Industry, which they believe is poised for rapid expansion as worldReuter - 671 words
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Article71 1977-05-21 9 Reuter LAS VEGAS, Fri. RCA Corp is introducing two new colour television models 1 which use less energy s about the same as a 100watt llghtbulb. < RCA said the new "ex- tended life" chasis for its 63.5 cm colortrak and XL--100 models would allow bothReuter - 71 words
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202 1977-05-21 9 KEPPEL'S Tuas Shipyard In Jurong looks like being fully operational by Its scheduled completion date of end-June. Though the 150,000 dwt drydock is still under construction, most other ancillary facilities have already been Installed and are moving into high gear, according to202 words
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Article25 1977-05-21 9 Reuter JAKARTA, Fri. Philippines Air Lines (PAL) has started a weekly flight between Jakarta and Manila via Kuala Lumpur, a PAL spokesman said.Reuter - 25 words
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Article, Illustration406 1977-05-21 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Atlantic Neptune (1700 after Frotabelra) 46 Baltlk (hauls 45m East after Benlomond hauls) 10/11 Benlomond (1100 hauls 45m East after New Bear) 23/14 Bunga Gelang (after Bunga Seta war sails) 19 Bunga Sepang (after Benlomond sails) (Subject Pls free) (Departure Draft 6m) 13/14406 words
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Article, Illustration260 1977-05-21 9 A NEW pressing method allowing operation at very high temperatures could Jirove to be a breakthrough or the automotive Industry. Developed by ASEA, the worldwide manufacturer of electrical and mechanical equipment, the method Is used with ceramic material of silicon nitride which can achieve260 words
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Article245 1977-05-21 9 BEN/EAC Bulk Service U joint venture between Ben Line and the East Asiatic Company. It was established within the Far Eastern Freight Conference for the operation of bulk carriers, with particular emphasis on timber and plywood from the Far East to Europe. At present, two or three245 words
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Article45 1977-05-21 9 TOKYO, FYI. Overseas orders for Japanese shipyards fell sharply in April to 10 ships totalling 151,900 tonnes gross from 32 ships totalling 811,450 tonnes In March and 29 ships totalling 292,500 tonnes In April last year, the Japan Ship Exporters Association said.45 words
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Article91 1977-05-21 9 Reuter CAPE CANAVERAL, Frl. The projected launching of a European satellite on June 16 could be delayed because of a recent mishap here, according to the US National Aeronautics and Space Administration (NASA). The European space agency's Orbital Test Satellite (OTS) was to beReuter - 91 words
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Article625 1977-05-21 9 ARRIVALS Service Local Operator Number Time From CAL CI333 0040 TPE/HKG/KUL CPA CX003 0145 HKG MAS MH682 0810 KCH PAA PA847 0830 SFO/HNL/GUM CPA CX710 1000 HLP CAL CI814 1000 HLP -SIA SQ211 1015 HLP GIA GA980 1030 HLP THAI TG423 1035 BKK GIA GA908 1100 MES625 words
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Article101 1977-05-21 9 Reuter TOKYO, Fri. Kawasaki Heavy Industries Ltd said It set up a Joint venture company with the Philippines National Investment Development Corp (NIDC) to build a 300,000-d/w--tonne repair dock In Sublc Bay, Luzon, by early 1980. The Joint firm, Philippine Shipyard and Engineering Corp (Phllseco), capitalisedReuter - 101 words
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Page 9 Advertisements
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Advertisement254 1977-05-21 9 So* "AS I WAS PASSING" is now compiled into a book All those articles that you've mearA to read, but didn't have time for, but which you promised yourself you'd cut out and keep, and missed, because the papers had been used to wrap up things, or had been sold254 words
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Article, Illustration2925 1977-05-21 10 ON A misty Friday morning on muddy Roosevelt field in New York 50 years ago a 220horsepower Wright Radial aeroplane engine turned oVer, coughed once and burst into life. Exactly 33 hours and 29 minutes later Charles Augustus Lindbergh Jr. stepped out ofNYT - 2,925 words
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Article844 1977-05-21 10 WILLIAM STEVENS - By WILLIAM STEVENS NYT DOUGLAS Fraser has never forgotten what he calls "The Cruelty and the Corruption" endured by car workers In the mostly polish neighbourhood In Detroit where he lived as a youth after his Scottish parents moved there from Glasgow. "The Polish guysNYT - 844 words
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729 1977-05-21 10 DAVID LAULIGHT - By DAVID LAULIGHT Reuter VIOLENCE at a May Day rally which left 38 people dead could influence Turkey's general election next month and the course the country takes for the next four years. Origins of the violence are still obscure. Besides the deaths,Reuter - 729 words
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Advertisement348 1977-05-21 10 Good reading on from Penguin China the most populous nation in the world. Fast emerging as a major power in world politics. Isolated from the rest of the world for over two decades, world attention has nevertheless turned to this most enigmatic of nations time and again. Starting with Nixon,348 words
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Article129 1977-05-21 11 AP NEW YORK. Frl. Japan maintained Its position last year as the Port of New York-and New Jersey's largest ocean-borne general cargo trading partner, according to figures released yesterday. William Ronan, chairman of the Port Authority and the World Trade Committee of the New York-NewAP - 129 words
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448 1977-05-21 11 DESPITE BARRIERS AGAINST ITS GOODS Reuter TOKYO, Frl. Despite Increasing moves by some of its leading trading partners to cut down on their imports from Japan, the Japanese economy continues to show consistent growth as recent and latest figures show. The Japanese, meanwhile, continueReuter - 448 words
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780 1977-05-21 11 Reuter MANILA. Fri. President Marcos today declared he was having difficulty restraining the military from taking action to root out Muslim rebels in the southern Philippines, but said he was determined to bring about a peaceful solution. He made the comment toReuter - 780 words
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Article210 1977-05-21 11 AN updated computer model, the Nimex 3 will be used in this year's National Management Game starting in mid-July. About 60 to 80 teams are expected to take part in the 7th NMG which will last until October. Applications to participate in210 words
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Article26 1977-05-21 11 THE Singapore Manufacturers' Association (SMA) will hold Its annual general meeting at 5.15 pm on May 25 at the Regional English Language Centre.26 words
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Article97 1977-05-21 11 AP JAKARTA, Fri. Indonesia and France have signed a contract for the engineering design of a new Jakarta international airport near the city. The design, with a total cost of 24.5 million francs (5512.2 million), Including a 22.4 million franc loan from the French government, would beAP - 97 words
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Article94 1977-05-21 11 AP BANGKOK, Fri. The United States and Thailand today signed an agreement under which the US will provide U*****,000 (*****,000) to begin family planning and hyeiene projects in 80 rural districts throughout the country, the US Embassy announced. The aid includes provlsion of birth control pills andAP - 94 words
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292 1977-05-21 11 Reuter HONGKONG, Fri Hanoi's total industrial output value last year increased by 34 per cent over 1975 and it should increase by 20 per cent this year, the Vietnam News Agency reported yesterday. This is disclosed in a political report to be presented toReuter - 292 words
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Article88 1977-05-21 11 WELLINGTON, Fri. New Zealand's current account balance of payments deficit fell to an estimated NZ$l74 million (Ss4oo million) in the first quarter of 1977 from deficits of $288 million in the fourth quarter of 1976 and $252 million in the first quarter of last year,88 words
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Article133 1977-05-21 11 UPI TOKYO. Fri. The Japan Chemical Fibre Yarn Association gave up its plan to form a recession-fighting cartel and instead will establish a forum comprised of presidents of the major textile firms and government representatives, association sources said today. The spurces said the associationUPI - 133 words
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135 1977-05-21 11 Reuter TOKYO, Fri. The Japanese Trade-Industry Ministry has asked Japanese car makers to refrain from excessive sales promotion in the US to forestall another trade confict following the colour TV dispute. US car sales are booming and exports of Japanese cars and trucks toReuter - 135 words
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Article223 1977-05-21 11 UPI COLOMBO, Fri. Sri Lanka will hold general elections on July 21 to decide if the seven-year-old government of Prime Minister Sirlmavo Bandaranaike can stay in office, officials said yesterday. Parliament was dissolved by President William Gopallawa and the news was greeted with fireUPI - 223 words
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Article61 1977-05-21 11 Reuter COLOMBO. Fri. Three Prltlsh-owned banks in Sri Lanka have escaped nationalisation because of yesterday's dissolution of Parliament. The Chartered Bank, Grindlays Bank and the Hongkong and, Shanghai Banking Corporation were to have been taken over through a bill to be rushed through the State Assembly whenReuter - 61 words
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142 1977-05-21 11 Reuter MANILA, Fri. A nineman trade mission' from Britain's Engineering Industries Association believes there is a good potential in the Philippine market for their products. The trade mission, scheduled to leave for Hongkong tomorrow after a week here, expects a stronger trade link andReuter - 142 words
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Article135 1977-05-21 11 Reuter PARIS. Fri. French trade unions today called on the staff of Air France to Join a 24-hour general strike set for May 24. The call came from unions with administrative, ground and air staff members. The strike has been called by the country'sReuter - 135 words
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680 1977-05-21 11 MR. Keith Reynolds, chairman of the Far East Freight Conference rubber committee, is moderately optimistic the next round of talks between the FEFC and the Freight Committee of the Rubber Industry of Malaysia in London will reconcile existing differences. Speaking to Business Times680 words
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Article87 1977-05-21 11 Reuter HONGKONG, Frl. Hongkong's "A" and "B" consumer price Indices were both unchanged in April at 117 (base 1 $73/74) and both stood 6.4 per cent higher than a year earlier, the Census and Statistics Department said. This follows falls of 0.85 per cent eacn in MarchReuter - 87 words
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Article48 1977-05-21 11 THE article entitled "It's exclusive but the cheapest costs $300,000" in yesterday's Business Times on Page 11 contained the paragraph "Prices vary between $200,000 and $390,000 for normal units but penthouses range from $640,000 to $007,000." The lowest price should road $300,000 instead of $200,000.48 words
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Article342 1977-05-21 11 LONDON, Fri. A fiveman Treasury delegation from Malaysia yesterday concluded the preliminary rounds of a negotiation with Britain to review the double-taxation agreement between the two countries. The Treasury Under-Se-cretary Encik Badruddin Samad, who led the team said the three-day discussion, "deemed necessary because of342 words
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Article55 1977-05-21 11 THE two-day Thai fruit festival, held on the grounds of the Thai Embassy, ends today. About 12'/* tonnes of fruits were displayed at the festival, the first to be organised by the newlyformed Sing-Thai Grain Enterprise in conjunction with the Thai Embassy here. The fruits on display55 words
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161 1977-05-21 11 Reuter NEW YORK. Frl. Publicly-announced Eurocurrency bank credits to non-Opec developing countries slowed to a preliminary US$3.6 billion (Ss9 billion) in the period January to May from $4.7 billion In the same 1976 period, Morgan Guaranty Trust Co figures show. Lending to this sector in MayReuter - 161 words
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225 1977-05-21 11 Reuter TOKYO, Frl Toyota and Nissan motor companies are proceeding with plans to expand their service networks In West Asia which has grown Into the third largest market for Japanese car makers, they said. Toyota Motor Sales Co said it recently completed a repair factoryReuter - 225 words
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Page 11 Advertisements
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Advertisement431 1977-05-21 11 APPOINTMENTS CONSTRUCTION EQUIPMENT TERRITORY MANAGER AUSTRALASIA A leading U.K. manufacturer intends to establish a Territory Manoger in Australia who will be responsible to the Regional Manager for the promotion and development of the companies sales and aftersales activities, which are carried out through an existing distributor network. TERRITORY: Australia, New431 words
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Advertisement387 1977-05-21 11 Applications are invited from suitably qualified persons to fill the following positions:ENGINEERING PRODUCT MANAGER The Job: To plan, develop and supervise the marketing activities of metal working and other engineering equipment. The Mon Male Citizen, age between 25 to 35. University graduate in Mechanical Engineering with 2-3 years marketing experience.387 words
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Article, Illustration875 1977-05-21 12 Agencies LONDON, Fri. Documents held by the Dally Mall newspaper In London show that over £1.3 million (555.5 million) of the British Leyland "slush fund" was disbursed In the Far East last year. The Dally Mall yesterday said In the second ofAgencies - 875 words
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233 1977-05-21 12 Reuter TOKYO, Fri. Toyota Motor Sales, the sales arm of Toyota, today reported record profit and sales for the year ended March 31, 1977. After-tax profit Jumped 40.7 per cent to 23.69 billion yen (***** million) on the back of an 18.8 perReuter - 233 words
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Article814 1977-05-21 12 LONDON. Frl. The stock market closed widely lower on end-account profit-taking, rights issue fears and the Increased April retail price figures, dealers said. At 3.00 pm the Financial Times Index was down 9.3 at 456.5. Government stocks lost around 3/4 to 7/8 point In longs while shorts fell814 words
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304 1977-05-21 12 MORE Japanese investments wtfl be made In Singapore In the next few years, a leading Japanese banker. Mr. Akira Nemoto, predicted last night. Mr. Nemoto. a member of a visiting eight-man Japanese delegation, said: "There are certainly good prospects of more Japanese investment here.304 words
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189 1977-05-21 12 KUALA LUMPUR. Frl. Malaysia may be a net importer of oil by 1982, and by 1990 the country's oil reserves may be depleted, given the current rate of consumption and production and assuming no new oil fields are discovered. This was stated189 words
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Article39 1977-05-21 12 LONDON. Frl. The Exports Credit Guarantee Department said a financial agreement was signed In Seoul for the ECGD guaranteed US$l3.5 million loan (5533.2 million) to South Korea to help finance a contract awarded to Foster Wheeler Ltd.39 words
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167 1977-05-21 12 Reuter MANILA, Frl. A senior official of the United Nations Economic and" Social Commission for Asia and the Pacific (Escap) yesterday suggested the formation of a regional or subregional shipping network to cope with increasing freight rates. Speaking before a seminar for commercialReuter - 167 words
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207 1977-05-21 12 Reuter GENEVA, Frl.- A feasibility study for an ln--1 ternational copper agreement will be recommended to Unctad's second preparatory meeting on copper by the contact group of eight exporting and eight consuming countries, delegate sources said. The recommendation for an export group toReuter - 207 words
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Article139 1977-05-21 12 KUALA LUMPUR, Frl. The United States ambassador-designate to Malaysia, Mr. Robert Miller has reiterated that the US should continue its Interest in East Asia and Asean In particular. In a brief May 19 appearance before the US Senate Foreign Relations Committee considering his139 words
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Article316 1977-05-21 12 Reuter NEW YORK, Frl. A former US ambassador to Chile has filed a US$4.3 million (5510.75 million) damages suit against the International Telephone and Telegraph (ITT) Corporation, charging that it falsely blamed him for helping to thwart the election of the late Chilean PresidentReuter - 316 words
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Article228 1977-05-21 12 AP WASHINGTON. Frl. Rising coffee prices In the United States are apparently related to the reduction in Americans' per capita coffee consumption, the US Agriculture Department said. In the first quarter of this year, per capita coffee consumption dropped to 1.4 kg from 1.6 kg InAP - 228 words
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171 1977-05-21 12 THE occupational health and safety committee of the National Trade Union Congress (NTUC) Is holding a one-day symposium at the Conference Hall today. The MP for Kampong Chal Chee aqd Senior Parltamentary Secretary (Labour). Mr. Fong Sip Chee, will open the symposium which will171 words
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Article155 1977-05-21 12 "HARD work has to be made a wav of life and this applies to you, me and all of us in Singapore if we individually and as a country are to prosper in the world of to-day. This was stated yesterday by Mr. Michael Y.O. Fam.155 words
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Article122 1977-05-21 12 A SUIT was filed in the High Court yesterday by Hawkers Wills Ltd. against Conic Singapore Pte Ltd. for $546,937.11 allegedly due under two bills of exchange. The First Life Insurance Co. (Pte) Ltd. also sued Mehervan Singh, practising under tha name of Mehervan Singh Co., for122 words
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670 1977-05-21 12 KUALA LUMPUR, Frl. The Industrial Coordination Act was under K" yesterday at the fourth layslan Economic Convention. It was described as an untidy and unbalanced piece of legislation slanted more towards regulating rather than promoting industrialisation. The remarks were made by Mr. Philip Khoo,670 words
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Article, Illustration186 1977-05-21 12 US Agriculture Secretary, Mr. Bob Bergland (above), will visit Singapore from June 13 to 15 as part of a major Far East tour. This will be his first tour to the East since he took office in January. Mr. Bergland will attend the US186 words
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Article76 1977-05-21 12 THE dispute between the 200 workers and the management of Vosper Singapore shipyard over the dismissal of a worker had been referred to the Labour Ministry for conciliation, according to a Vosper spokesman yesterday. The dispute, which started on Wednesday, involved the dismissal of a worker after a76 words
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Article36 1977-05-21 12 THE Ministry of Labour will conduct the mid-1977 Labour Force Survey to collect employment and unemployment data for policy formulation In May and June. The interviewers will be issued with indentificatlon cards, the Ministry said.36 words
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Article377 1977-05-21 12 THE baggage carried by Singaporeans flying to major airports may soon be less of a burden if local airport rules are brought Into line, with changes planned by most International airlines. From June 1 leading airlines have agreed to Implement checked baggage allowances based on377 words
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185 1977-05-21 12 THE progressive expansion of Singapore's tool and die industry In the last 10 years has made the Republic the leading tool antfdle manufacturing centre In Southeast Asia. According to the Economic Development Board publication, Singapore Investment News, the industry, with more than 60185 words
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Article123 1977-05-21 12 SIEMENS of West Germany will increase Its Investment in Singapore by a further $3.6 million to expand and diversify the product lines of its subsidiary here, Siemens Components (Singapore). Under its expansion plan. Siemens Singapore's total investment will increase from $3.4 million to $7 million and its123 words
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Page 12 Advertisements
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Advertisement80 1977-05-21 12 Asean Business Quarterly A 72-page quarterly magazine, with no advertisements, costing Sslo (US$4). It includes trends, up-to-date statistics (200 tables) and comment as a guide to financiers, investors, shippers and traders with interests in ASEAN countries. Write for a 16-page illustrated booklet free of charge. Asia Research Pte. Ltd. P.O.80 words
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