The Business Times, 24 May 1977

Microfilm: NL9307
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 TUESDAY, MAY 24, 1977 50 CENTS
    10 words
  • NEWS IN BRIEF
    • Article
      London stocks lower
      31 1 LONDON, Mon. The London stock market declined but closed above the lows for the day. At 3.00 pm the Financial Times Index was off 8.1 points at 453.2.
      31 words
    • Article
      Lock icon 'Excellent' harvest
      55 1 Reuter HONGKONG, Mon. The southern Chinese province of Kwangsl has registered an "excellent" harvest of winter wheat this year, the official New China News Agency reported today. The agency, monitored here, did not give actual production figure, but said the Yulln district had achieved a 40 per cent
      Reuter  -  55 words
    • Article
      Lock icon Radicals hijack train
      63 1 AP GRONINGEN (The Netherlands), Mon. Two groups of heavily armed South Moluccan extremists, striking two days before the Dutch general election, seized an elementary school and ljacked a train In the northern Netherlands today, a government official said. An estimated 130 children and teachers were being held
      AP  -  63 words
    • Article
      Lock icon Unicef call for aid
      59 1 Reuter MANILA, Mon. The executive director of the United Nations Children Fund (UNICEF), Mr. Henry Laboulsse, is recommending that the world body commit US$lO million (5124.3 million) from its general funds and seeks $7 million In special contributions to help expand health, sanitation, nutrition and child
      Reuter  -  59 words
    • Article
      Lock icon Leyland sues paper
      85 1 Reuter LONDON, Mon. The Daily Mall newspaper is being sued for defamation over Its allegations that British Leyland gave huge bribes to secure sales abroad. The National Enterprise Board which has a 95 per cent stake In Leyland, said the proceedings would be against the newspaper's editor,
      Reuter  -  85 words
    • Article
      Lock icon Young's pledge
      77 1 Reuter LUSAKA, Mon. Black American envoy Andrew Young pledged that the United States would use "methods at our disposal" to posh South Africa to black majority rule. It seemed Mr. Young's most explicit declaration so far during his African tour of US support for majority rule in South
      Reuter  -  77 words
    • Article
      Lock icon Dow Jones
      83 1 UPI NEW YORK, Mon. Prices headed sharply lower early today in active trading of New York Stock Exchanges Issues in reaction to rising inflation and Interest rates, and uncertainty about the Middle East. The Dow Jones Industrial average, which lost 6.02 points on Friday, was off 2.12 points
      UPI  -  83 words
  • Chief price change
    • Article, Illustration
      In Singapore yesterday
      162 1 SHARE fluctuated wkhin narrow limits in light to moderate trading at the Stock Exchange of Singapore yesterday. Prices were generally steady across the board with no sign of any selling pressure. At the close, the Business Times index closed 2.19 points higher at 278.03 and the Straits
      162 words
    • Article
      In Kuala Lumpur
      109 1 Rites Most active C. Susan 2.20 S P. Textiles 1.35 Castlefleld 4.34 Kullm(M) 0.96 DunlopEst 1.00 Malakoff 1.30 Boustead 1.65 Sel C'nuts 1.66 P. Carbide 0.90H Falls Pacific Der 1.60 N.8.T. 4.02 P.IC.C. 2.44 Hume(kf) 1.47 O.C.B.C. 6.70 M. Contalnen 1.16 Stme Darby 3.22 +.14 +.10 +.06
      109 words
  • Article
    Movement in shares arouses interest
    1028 1  -  M. CREDIT HOLDERS REDUCE STAKE By JOHN TAN TWO major shareholders of Malayan Credit, who between them controlled 22 per cent of the capital, are reducing their Interests In the company. At least this is what movements In its share register indicate. Since September last
    1,028 words
  • Article
    Chen now Minister of State
    150 1 THE newly-elected MP for Radln Mas, Mr. Bernard Chen Tien Lap, has been appointed Minister of Btate in the Ministry of Defence. A government statement yesterday said the appointment by President B.H. Sheares, acting on the advice of the Prime Minister, takes effect from today.
    150 words
  • Article
    Paris strike countdown
    40 1 PARIS, Mon. France will be virtually paralyse# tomorrow by a nationwide general strike which the government says could cost the country U391.2 billion (512.9 billion) or 0.5 per cent of Its total output for the current year.
    40 words
  • Article
    Kaunda says Lonrho chief 'threatened'
    467 1 THE übiquitous "Tiny" Rowland was cast In an unfamiliar role of a "goodie" yesterday when President Kenneth Kaunda of Zambia gave details of alleged "panic" decisions by certain International oil companies. Dr. Kaunda said that following a secret meeting between the oilmen, they had decided
    467 words
  • Article
    Lock icon The Asian solutions
    226 1 UPI MANILA, Mon. President Marcos said It Is folly to apply Western approaches In trying to solve Asian problems. Mr Marcos made the remarks during a call by participants to the first Asean youth seminar workshop, which began on May 16 and ended today. "We must consistently
    UPI  -  226 words
  • Article
    Lock icon Turkey calls halt to debt payment
    169 1 UPI TOKYO, Mon. Turkey has ordered suspension of an Import bill settlement because of the worst foreign exchange situation In Its history, Japanese trading sources have revealed. The sources said the Turkish Government's action was considered a shortterm emergency measure to find the way
    UPI  -  169 words
  • Article
    Lock icon Inflation in retreat
    125 1 AP JAKARTA, Mon. Indonesia's Inflation rate for the fiscal year ended In April was 12.1 per cent, down sharply from the 19.7 per cent of fiscal 1975-70, Finance Minister All Wardhana said today. Inflation was 20.2 per cent In 1974-75 and 47.3 per cent In 1973-74 Sir
    AP  -  125 words
  • Article
    SEOUL PULLOUT TALKS
    71 1 SEOUL, lion. U8 UnderSecretary of State Philip HaMb and Oeneral George Brown, chairman of the US joint Chiefs of Staff, will arrive here tomorrow for Initial talks with South Korean leaders on President Jimmy Carter's proposed withdrawal of US troops from Korea, the Foreign Ministry announced today.
    71 words
  • Article
    CONPLANT SHARE LISTING APPROVED BY KLSE
    145 1 THE Kuala Lumpur Stock Exchange has approved the listing and quotation of 42.57 million lOp shares of Consolidated Plantations which were not previously listed on the KLBE. The major portion of these shares was Issued In 1973 as consideration for the acquisition of the
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  • Article
    Lock icon Oil well
    30 1 Reuter Jakarta, Mon. The Indonesian state-owned oil oompany, Pertamlna, today announced the discovery of a new oil well capable of producing 2,700 barrels of crude a day. Reuter.
    Reuter  -  30 words
  • Article
    18pc jump in February wholesale prices
    264 1 SINGAPORE'S wholesale prices rooe at an annual rate of 18 par cent la February the highest for I*4 years. Inflation last year was, however, moderate and the wholesale priee Inflation rate from the sad of February 1976 was only 5.5 per cent, according to
    264 words
  • Article
    Lock icon World Bank borrowings
    31 1 AP WASHINGTON, Mon. The World Bank announced today that it has completed Its borrowing programme for the fiscal year from July 1, 1976 to June 30, 1977. AP
    AP  -  31 words
  • Article
    Extended — that buy offer by Haw Par
    490 1 Extended that buy offer by Haw Par HAW Par Brothers International Ltd yesterday deckled to extend Its'offer to redeem the Haw Par London convertible redeemable guaranteed preference shares by another month. The offer, which originally was to have lapsed at the close of business yesterday has now been extended to
    490 words
  • Article
    Lock icon Philippine peso weakens in HK
    105 1 AP HONGKONG, Mon. The Philippine peso weakened against the US dollar today and dealers attributed the drop to cwersupply of the Philippine currency in Hongkong. Deak and Company (Far Bast), an American-owned money exchange, auoted the peso at 0.1247/ 0.1290 US dollar (buying/ selling) compared
    AP  -  105 words
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      Page 1 Advertisements Column 1
      13 1 ([-}:$>$>.{$(/$?^@=[':+~!:"?.{= Oversees Newi/TVA Nows/Featur* PI leeel Co News P4 International Co News- PS Traas»ert
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    • Advertisement
      Page 1 Advertisements Column 2
      91 1 Gain an extra hour for yourself. Free. Rent a luxurious Hong Leong apartment and skip travelling time to me city. Skip jams. And enjoy within a 10-minute walk restaurants, nightclubs, lounges, shopping and other amenities. Save an hour a day. By not wasting it on travelling. Use it for enjoying
      91 words
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      Page 1 Advertisements Column 3
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      51 words
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  • OVERSEAS
    • Article
      Lock icon The race against time to find new reserves
      363 2 Reuter TOKYO. Mon. World oil production may reach its peak in about 10 years unless reserves equivalent to the entire North Sea are discovered every year, British Petroleum Co chairman David Steel said. He told the International Monetary Conference of the American
      Reuter  -  363 words
    • Article, Illustration
      Lock icon Give up Arab lands or face embargo
      409 2 OIL WARNING BY FAHMY UPI AP CAIRO, Mon. Egyptian Foreign Minister Ismail Fahmy has raised the spectre of another Arab oil embargo against the West If the new right-wing leadership in Israel refuses to surrender occupied Arab lands. The Arabs' "oil weapon" he
      UPI; AP  -  409 words
    • Article
      Lock icon Sceptical response to Carter goals
      458 2 NYT NEW YORK Mon. Charles Schultze, President Carter's plainspoken chief economic adviser, ran into considerable scepticism in Washington last week from a distinguished business audience when he sought to lay out the Administration's fouryear goals ahd.say how Mr. Carter meant to achieve them. At a
      NYT  -  458 words
    • Article
      Lock icon Why US plans to help Mexico secure loans
      280 2 AP DALLAS, Mob. Mr. Patrick Lucey, President Carter's nominee as US ambassador to Mexico, has outlined the American government's plan to aid Mexico financially and provide the US with a much needed new source of petroleum. Mr. Lucey, who faces nomination hearings
      AP  -  280 words
    • Article
      Lock icon FRESH BID TO SHARE SEA WEALTH
      395 2 Reuter UNITED NATIONS, Mon. The countries of the world today launch a fresh attempt to share out the vast mineral riches lying at the bottom of the oceans and avoid a bitter international carve-up of seabed wealth. Delegates to the UN Law Of x
      Reuter  -  395 words
    • Article
      Lock icon Closer EEC ties sought
      1149 2 LATIN AMERICANS EAGER FOR MORE CONTACTS FT LONDON, Mon. This week in Brussels will see a new attempt by the countries of Latin America to work out a less sporadic and more coherent relationship with the EEC than they have had up to now. Sr. Jaime
      FT  -  1,149 words
    • Article
      Lock icon Dark clouds above the Caribbean horizon
      798 2 AP BRIDGETOWN (Barbados), Mon. The Caribbean Common Market (Caricom), tne economic grouping of the former British colonies In the area, is facing problems which some fear could threaten its survival. Trouble has mounted on several fronts. Two of the largest members, Guyana ana Jamaica,
      AP  -  798 words
    • Article
      Lock icon Coffee crops at mercy of the elements
      557 2 Reuter RIO DE JANEIRO, Mon. There's an awful lot of coffee in Brazil, says the song but not so much as there used to be. By the end of June, according to a senior coffee Industry official, existing stocks will have virtually run
      Reuter  -  557 words
    • Article
      Lock icon Permits or else no imports
      145 2 UPI WASHINGTON, Mon. The United States today begins cracking down on the importation of plants and animals protected by an international endangered species treaty including importation of turtle oil used for cosmetics and hunters' rhinoceros trophies. The Interior Department's fish and wildlife service from today
      UPI  -  145 words
    • Article
      Lock icon European steel makers face worst crisis
      889 3 PARIS, Monday NYT THE blast furnaces are growing cold all over Europe and many may never warm up again. From Lancashire In Britain through Belgium and the French Lorraine to the German Industrial heartland of the Ruhr, Europe's steelmakers are now experiencing their worst
      NYT  -  889 words
    • Article
      Lock icon $180m oil tanker to be launched
      107 3 UPI TAIPEI, Mon. The world's third largest ship, a 445.000 tonne oil tanker built by the China Shipbuilding Corp (CSBC), will be launched in Kaohsiung Port in southern Taiwan next Friday. The largest oil tanker is 560,000 tonnes. The US$75 million (SslBo million) tanker
      UPI  -  107 words
    • Article
      Lock icon Tempers flare at anti- Concorde demo
      174 3 Tempers flare at antiConcorde demo Reuter NEW YORK, Mon. Tempers flared as New Yorkers opposed to Concorde landing here caused big traffic Jams on roads leading to Kennedy Airport. The protest caused delays of up to two hours for airline passengers arriving and leaving the airport. There were no arrests,
      Reuter  -  174 words
    • Article, Illustration
      Lock icon A chat before dinner
      82 3 MR. JACK Hendleg, general manager of the Midland Bank ii* London, Mr. Teiichiro Morinafa, president of the Bank of Japan, and Tan Sri Ismail bin Mohamed Ali, governor of Malaysia's Bank Negara (from left to right) chat before dinner held at a hotel in Tokyo on
      AP picture  -  82 words
    • Article
      Lock icon Consumption to increase forecast
      67 3 Reuter FRANKFURT, Mon. Commerzbank said it expects West German private consumption to grow by a real four to 4.5 per cent In 1977 after a 3.4 per cent expansion in 1976. In its latest economic notebook It bases its forecast on an average rise of eight
      Reuter  -  67 words
    • Article
      Lock icon Ghana shuts mission
      50 3 Reuter BONN. Mon. Ghana has closed its diplomatic mission in Uganda, *a spokesman for Ghanaian Foreign Minister Roger Felll said here yesterday. The spokesman, accompanying Coloryl Felll on a four-day official visit to West Germany which started yesterday declined to give a reason for the move. Reuter
      Reuter  -  50 words
    • Article
      Lock icon How private banks can help in Witteveen plan
      469 3 Reuter TOKYO, Mon. Manufacturers Hanover Trust Co board chairman Gabriel Hauge said that if contributors to the International Monetary Fund's Wltteveen facility are paid market interest rates, the private banking sector might be able to play a contributing role. In remark's to
      Reuter  -  469 words
    • Article
      Lock icon 'Growth will slow in longer term'
      359 3 Reuter TOKYO, Mob. DeuUbc Baik director Wilfried Guth Mid be U rather confident that the ■■Iwll upawing in the current cycle of economic growth will continue over the month* to oome, but beyond this short term outlook the possibility of a longer period of
      Reuter  -  359 words
    • Article
      Lock icon Sweeping economic plans for Israel
      698 3 TEL AVIV, Monday AP ISRAEL'S rightwing Likud bloc is planning to ask American Nobel prizewinner Milton Friedman for advice on how to turn the nation's 29-year-old socialist-based economy into a free-enterprise system. Mr. Simcha Ehrlich, the man most likely to be Minister of Finance in
      AP  -  698 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      485 2 Business Management in Penguins THE -a. DEBT TRAP HOW TO SURVIVE s THE SLUMP The Debt Trap: Cheryl Payer The International Monetary Fund 1$ the most powerful supra-national government in the world today. This book is about the efforts of poor nations to gain some control over their own economies
      485 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      31 2 THE WEATHER II WEATHER raport for 24 hou May 23 at Singapore airport. Aaaoriatod Humidity Horn of Sunahine in MUHiHiw Total Rainfall for the Month Total Rainy Days for tha Month
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      272 2 RADIO TV SINGAPORE 5 3.00 P.M. Opening announcements followed by Flying Nun (r) 3.30 Diary of Events (English) 3.35 General Hospital 4.15 Magazine Zero One (r) 4.30 Intermission 6.05 Opening announcements followed by Porky Pig Show 6.30 News in Brief 6.35 Boy Dominic Man with the Painted Face 7.00 The
      272 words
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      328 3 t V 2 K SIHI! TheCH3OO Piling Crane, manufactured by Ishikawajima- Harima Heavy Industries of Japan. The mast advanced pile driving equipment available is now in Singapore Mr. I W Lau. Managing Director Sum Cheong Piling Pte Ltd Sum Cheong Piling Pte Ltd., The biggest piling contractor in Singapore, is
      328 words
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  • COMPANY NEWS
    • Article
      US$50m debenture offer
      185 4 THE parent company of Irving Trust Company, which has an offshore branch in Singapore, has announced it will offer US$5O million sinking fund debentures due 2002 to the public. The company. Charter New York Corporation, Is a bank holdings company whose principal subsidiary is Irving Trust. About
      185 words
    • Article
      DIVIDENDS ANNOUNCED
      651 4 Current Ex Date Total for Total for payment Date payable the year previous yea] 9*1. Properties 8% Apr 28 May 24 16% 16% National Iran 5HTE May 6 May 26 12.5%TE 12.5TE Dunloplnd. 21.5% Apr 20 May 27 27.5% 22.5% K. Kellas Tin 400% May 4 May 27
      651 words
    • COMPANY MEETINGS
    • Latest results
      • Article
        HONG Leong Finance
        59 4 Group pre-tax profit $6.28 million ($5.12 million) for the year ended Dec 31, 1976. Net profit 53.54 million ($3.25 million) after tax of $2.78 million ($2.24 million). Company pre-tax profit $6.33 million ($5.33 million). Net profit $3.58 million ($3.13 million) after tax of $2.75 million ($2.20 million).
        59 words
      • Article
        Sigma Metal Company
        23 4 Pre-tax profit $438,165 ($361,771) for the year ended Dec 31, 1976. No dividend declared (1975: five per cent tax exempt).
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      • Article
        Yeo Hiap Seng (Malaysia)
        39 4 Group pre-tax profit M 51.83 million ($650,000) on sales of $19.7 million ($14.66 million) for the. first halfyear ended March 31, 1977. Company pre-tax profit $1.45 million ($527,000) on sales of $15.99 million ($12.29 million).
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    • Article
      UOB subsidiaries show caution in lending
      773 4 IN keeping with Its reputation of having the largest loan portfolio among the locally Incorporated banks, group loans and advances at United Overseas Bank rose 16.4 per cent to $1.68 billion last year. Oroup deposits, on the other hand, grew by only 13.8 per
      773 words
    • Article
      KLI accounts heavily qualified by auditors
      432 4 THE directors of Kuala Lumpur Industries, who were recently requested by the Kuala Lumpur Stock Exchange to comment on the heavy qualifications of 1976 accounts, have declared that they are "very much aware of the state of affairs In the group". "And as already
      432 words
    • Article
      Reynolds keen on venture in Sarawak
      273 4 REYNOLDS International of the US has Indicated Its interest In establishing an aluminium plant with an annual capacity of 100,000 tons In Sarawak. This was disclosed by the Malaysian Deputy Primary Industries Minister, Mr. Leong Khee Slong In Kuala Lumpur over the weekend. Mr.
      273 words
    • Article
      PEOPLE IN BUSINESS
      342 4 HARPER Ollflllan has announced the appointment of Dr. N.B. Hall Taylor and Mr. A.N. Mac Donald as directors on Jan 1 and Feb 1,1977 respectively. Mr. J.N. Aucutt resigned as a director of the company on March 31, 1977 on retirement. Chemical Bank has announced the transfer
      342 words
    • Article
      Lock icon Borel group fires founder
      879 4 EMPIRE HEAD JOBLESS UPI PARIS, Mon. Frenchman Jacques Borel, who built Europe's biggest fast-food* chain, is looking for a-Job. After 20 years of meteorlike success, Mr. Borel, now 50, was forced out of his empire this month with the same ruthlessness he had used to construct
      UPI  -  879 words
    • Article
      Lock icon AN UPLIFT FOR U.S. CORPORATE IMAGE
      734 4  -  By THOMAS A MULLANEY NYT THROUGHOUT most of his long career In top executive capacities at the United States Steel Corp., R. Heath Larry has devoted much time and effort to labour negotiations, public affairs and communications. Now, as he approaches retirement age In
      NYT  -  734 words
    • Article
      Ecuador to raise US$60m
      71 4 QUITO, Mon. The government said It has authorised the Finance Ministry to Issue bonds worth US$6O million for sale on home and foreign markets. The issue Is to finance the budget, according to a decision taken by the Cabinet. The bonds will carry 9.5 per cent
      71 words
    • Article
      Finland's bond
      66 4 TOKYO, Mon. The forthcoming 10 billion yen, 12year bond from the Government of Finland will carry a coupon of 7.8 per cent and be issued at par from tomorrow. Yamaichi Securities said as lead manager. Yamaichi said payment is to be completed by May 30. The issue will
      66 words
    • Article
      Olivetti
      33 4 LONDON, Mon. The Olivetti Internationa] Luxembourg US$4O million 9 1/4 per cent Eurobond due 1984 was priced at 99 1/2 per cent. Union Bank of Switzerland (Securities) said as Issue lead manager.
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      Page 4 Advertisements Column 1
      385 4 "1,,, ri THE GREAT BOOKS OF WESTERN OYILIZATION These are the books that had to burn. For within the GREAT BOOKS are volumes that hold the ideas and thinking that challenge the fettered mind; the thoughts and theories that have built democracies, withered tyrants, opened new worlds, riddled superstition with
      385 words
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  • Article
    Lock icon Kaiser expects record quarter
    272 5 NORTH AMERICAN COMPANIES Reuter KAISER ALUMINIUM AND CHEMICAL expects 1977 second quarter net to be over US$l.5B per share, up from $1.54 a year ago, vice president and treasurer Mr. William Hobbs told analysts. This equals a record $1.58 In the second quarter of 1974. Mr.
    Reuter  -  272 words
  • Article
    Lock icon Woolworth down
    127 5 Reuter K.W. WOOLWORTH retail chain reported a 49 per cent drop in profit for its first quarter ended April 30, 1977. Net earnings for the three-month period totalled US$7.O2 minion, or 21 cents a share, down from $13.75 million, or 45 cents a share, in the same period
    Reuter  -  127 words
  • Article
    Lock icon GM adds 1,600 workers to Lordstown plant
    258 5 Reuter GENERAL MOTORS will add 1,600 workers and a second shift to its Lordstown, Ohio, plant in October to increase subcompact car. production, chairman Mr. Thomas A. Murphy said in a speech prepared for the annual meeting. The plant, he said, will make
    Reuter  -  258 words
  • Article
    Lock icon US corporations profit rises
    163 5 Reuter PRE-TAX profit of US corporations rose at a seasonally adjusted annual rate of US$2.l billion in the first quarter, off from $4 billion growth in the fourth quarter, the Commerce Department said. Corporate profit stood at an annual rate of $156.3 billion for the latest
    Reuter  -  163 words
  • Article
    ITT confident
    42 5 INTERNATIONAL TELEPHONE AND TELEGRAPH expects earnings to rise about 20 per cent this year from the U553.95 per share earned In 1976, chairman Mr. Harold Geneen told security analysts. He said the company aims to double corporate earnings by 1982.
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  • Article
    Lock icon AM to shut all auto making facilities
    91 5 Reuter AMERICAN MOTORS will shut all its auto making facilities this week because of a strike by two firms supplying engine components. The three facilities, employing 9,700 people, are in Milwaukee ana Kenosha, Wis aod Bramfitpp, Ont. They will reopen on May 31
    Reuter  -  91 words
  • Article
    Lock icon European American Bank staff cutback
    230 5 FT EUROPEAN AMERICAN BANK, the largest foreign owned banking corporation In the U.S., has cut back its New York staff and eliminated a number of senior executive posts. Altogether, around 120 people have left the bank in the last few weeks and those affected come
    FT  -  230 words
  • Article
    Lock icon BBC cash flow up
    273 5 EUROPEAN COMPANIES Reuter OERLIKON, Switzerland, Mon. Brown Boverl und Cle reported that the group had a consolidated cash flow of 608 million francs (504 million) on sales of 8.43 billion francs (7.7 billion) in 1976. It does not publish group net profit figures. Earlier, BBC announced
    Reuter  -  273 words
  • Article
    Lock icon MACHINE TOOLS' CHANGES
    499 5  -  By DAVID CURRY FT OUTLINES of an important series of alliances or mergers in the fragmented and small-scale French machine tool industry are now beginning to take firmer shape. With the country's steel rescue plan now depending essentially on the success of companies and unions In working
    FT  -  499 words
  • Article
    Lock icon Unsettled days ahead
    805 5 GERMAN PHARMACEUTICALS INDUSTRY FT FRANKFURT Mon. These are unsettled days for the Oerman pharmaceuticals industry, as evidence of a recession in domestic demand for drugs continues to mount. Unveiling a set of flat sales figures for the first quarter of 1977, the C. H. Boehrlnger group says
    FT  -  805 words
  • Article
    Boots 26pc rise
    177 5 UK COMPANIES LONDON, Mon. Boot j reported that Its earnings last year rose about 26 per cent on the back of a 20 per cent Increase In sales. Pre-tax profit for the year ended March 31, 1977 amounted to £91.1 million on sales excluding VAT of £735
    177 words
  • Article
    Lock icon Business sector hits at California's unitary tax
    1127 5  -  By ART GARCIA FT CALIFORNIA for good or bad Is the trend-setter for most US fads and fashions. It sets the pace for technological innovations at the same time as it spawns many of the cults and fringe movements that spread nationwide, sometimes
    FT  -  1,127 words
  • Article
    Lock icon Turnround at Fraser
    61 5 Reuter LONDON, Mon. House of Fraser made a pre-tax profit of £938,000 on sales of £100.11 million for the 13 weeks to April 30, 1977. This represents a creditable turnround from a loss of £324,000 on sales of £85.95 million in the corresponding period. Tax accounted for
    Reuter  -  61 words
  • Article
    Rank Overseas
    52 5 LONDON, Mon. Rank Overseas Holdings is planning a $20 million five year note issue, N.M. Rothschild and Sons said. Indicated coupon on the Issue due to be priced around June 2 is 9tt per cent. Rank Overseas Holdings is a wholly-owned subsidiary of the Rank Organisation, guarantor of
    52 words
  • Article
    Lock icon Lonrho rights issue
    78 5 Reuter LONDON, Mon. Lonrho rights issue of ordinary shares at 50p each has been accepted for 22.75 million shares or 95.9 per cent of the offer. Excess applications for under 40 shares will be allotted in full and applications for more than 40 shares will be allotted
    Reuter  -  78 words
  • Article
    Lock icon M-Ferguson factory in Pakistan
    91 5 Reuter ISLAMABAD, Mon. The Pakistan Government has reached agreement with Massey Ferguson of the UK to set up a joint US$BO million tractor factory in Pakistan. Massey Ferguson will provide 49 per cent of the plant cost. The factory will build up to production of 15,000
    Reuter  -  91 words
  • Article
    UDS Group suffers setback
    84 5 LONDON, Mon. For the year ended Jan 29,1977 pretax profit at UDS Group fell to £16.18 million on sales of £315.32 million from £18.15 million and £294.86 million. Earnings per share were 6.7 pence compared with 6.6 p. Tax took £6.01 million (£8.12 million) leaving after
    84 words
  • Article
    Lock icon Buoyant results at Coats Patons
    154 5 Reuter LONDON, Mon..— Pre-tax profit at Coats Patons rose sharply to £76.43 million on sales of £615.02 million last year from £37 million and £487.1 million In 1975. Earnings per share were 13.9 pence against 6.9 p. Coats has declared a final dividend of 1.8778p
    Reuter  -  154 words
  • Article
    Lock icon Checker Motors VW Rabbit project
    180 5 Reuter CHECKER MOTORS which produces taxlcabs, is evaluating a modified Volkswagen Rabbit for a new cab. A Checker spokesman said the company had nothing concrete now to tell about the project, and declined further comment. Checker president Mr. David R. Markln told shareholders last Tuesday
    Reuter  -  180 words
  • Article
    Lock icon Allis- Chalmers dividend
    111 5 AllisChalmers dividend Reuter ALLIS-CHALMERS will evaluate its dividend payout ratio as earnings Increase, chairman Mr. David C. Scott told the annual meeting. Earlier the board raised the quarterly dividend rate to 27.5 US cents from 22.5 cents. Mr. Scott said the company is making good progress toward Its goal of
    Reuter  -  111 words
  • Article
    Lock icon R and D spending forecast
    76 5 Reuter RESEARCH and development spending in 1977 by US business should rise 11 per cent to US$30.6 billion from last year's $27.6 billion, according to McGraw-Hill Publiannual survey of research and development expenditures. The amount of spending set for 1977 apparently will break a 10-year
    Reuter  -  76 words
  • Article
    Lock icon Uniroyal
    40 5 Reuter UNIROYAL has revised upwards Its previously reported unaudited earnings figures for its first quarter. Uniroyal said the earnings have been finalised at US$l3.3 million or 46 cents share from the previously reported $13 million or 44 cents. Reuter.
    Reuter  -  40 words
  • Article
    Firms' growth continues
    182 5 ASIAN COMPANIES SYDNEY, Mon. The latest survey by Business Age. the financial section of the Melbourne Age newspaper, shows continued growth of Australian company profits. The survey, which covered 552 company reports for the second half of 1976, showed an overall rise of 26 per cent In
    182 words
  • Article
    Cross Harbour Tunnel earnings increase
    100 5 HONGKONG, Mon. Net ?roflt at Cross Harbour unnel advanced to HK572.33 million for the year ended March 31, 1977 from 859.69 million previously. In view of the higher earnings, the company has Increased its final dividend by two cents to 32 cents. This raised the
    100 words
  • Article
    Lock icon Sekisui, Pioneer venture
    79 5 Reuter TOKYO, Mon. Sekisul Chemical and Australia's Pioneer Concrete Services have agreed to set up a joint venture in Sydney. The new company, Pilon Plastics, will manufacture irradiated cross-linked polyethylene form for sale in Australia, New Zealand, Papua-New Ouinea and jiIt will be capitalised at A 51.25
    Reuter  -  79 words
  • Article
    N. Fudosan
    33 5 PARIS, Mon. Nippon Fudosan Bank plans to raise US$3O million through the issue of five-year notes, Morgan Stanley International said as joint lead manager. The offering is expected around June 2.
    33 words
  • Article
    ACI higher
    76 5 MELBOURNE, Mon. Australian Consolidated Industries has achieved a more than two-fold increase in earnings for the year ended March 31, 1977. Unaudited net profit jumped to A 515.2 million on sales of $606.6 million from $6.6 million and $480.4 million previously. The company has increased the final dividend
    76 words
  • Article
    Kumagaigumi
    52 5 TOKYO, Mon. After-tax profit at Kumagaigumi fell to 3.74 billion yen for the first half-year ended March 31, 1977 from 3.83 billion yen previously. The marginal setback in earnings came on the back of a four per cent rise in sales to 134.93 billion yen from 129.59 billion yen
    52 words
  • Article
    Nippon Mining
    53 5 LONDON, Mon. The Nippon Mining US$l5 million 7* per cent Eurobond, due 1982. was priced at 99 Vi, a spokesman for Credit Suisse White Weld said. The managing group comprises Credit Suisse White Weld. Yamalchi International (Europe) and IBJ Inter-national Ltd. The notes are guaranteed by the Industrial
    53 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      56 5 The French Restaurant that truly flatters your taste for the finest. In food, service and quiet entertainment. Dine by candlelight on evquisite French fare. And dance to soft music by The Belvedere Trio C nine to The Belvedere Singapore's French restaurant par excellence. *4 t fm a* 111 (;Jr, tki
      56 words
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  • Article
    Share Information Service
    2176 6 Gr'» Gr'i Net Day 1*77 Last div Div y'ld P/E Vol High Low Company Sale +or- c 'vr CO*) High Low 8ECTION ONE INDUSTRIALS 146 136 Acma 144 12.ON 1.1 8.3 7.2 133 127 Acma A 129 12.ON 1.1 9.3 6.5 204 204 Alcom 204 10.0 0.5
    2,176 words
  • Article
    Transactions in Singapore
    1153 6 BID and offer prices officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets In lots of 1000 units unless otherwise specified All Time Settlement Contracts are quoted after the word "Sett." Big Board
    1,153 words
  • Article
    In Kuala Lumpur
    1267 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 Al»»m (1.788 1 80S). (0.748) (S) 0.78. (1) A.M.D. (0.568). OMS
    1,267 words
  • Article
    Stock options
    102 6 STRIKING price* of tke stock options officially listed on the Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday, with the number of options traded shown in brackets. DBS(June $3.M) (0.208). (Dec (3.60) (0.268). (o'SJk'VU-iT,', o ol 2 ?S! 0.04*. (2 0.04, (2
    102 words
  • Article
    Unit trusts
    157 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Manager*' price* far May 24) (Current j rice*) The Commerce l.M 1 73xd INCOME BOND 1 OS l.U The Saving Fund 0 90 0.05 MARA BUMIPUTRA FUND Spore Prof Fund 0 .81 O N S'pore Security Fund 1.45 1.53 S'pore Invest Fund
    157 words
  • Article
    CORPORATE BONDS
    159 6 B O T 7 5/8% 1984 (100.000) (98*B 98SS) B O T 8 1/2% 1981 (100.000) (102HB 102*S) D B S 8 1/2% 1982 (100.000) (100*B 101S) DBS Converts 1/2% 1991 (100,000) (97*8 98*S) E I B 9% 1982 (100,000) (103*B 103SS) E I B 8 1/4% 1983
    159 words
  • Article
    GOVERNMENT BONDS
    106 6 5 1/2% (250.000) (101 488 101 555) 5 1/2% 15/4/78 (250.000) (101.35B) 5 1/4% 15/7/78 (250,000) (101.458 101.555) 4 3/4% 1/5/79 (250.000) (100.788 100 80SK2)100.80 7% 1/7/79 250,000) (104.658) 5 1/4% 15/10/79 (250,000) (101.70B) C 3/4% 15/8/80 (250,000) (103 358) C 3/4% 1/12/80 (250.000) (103.358) 5% T F
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      169 6 wwwrsmwKr (NROI with FfDfllAt PUBLICATIONS HOMfSIUDIfS DIVISION for 1 Wblsey Hall Inst of Administrative Management Inst, of Bankers (Conversion Course is available) Inst, of Chartered Secretaries and Administrators Inst, of Statisticians Professional Courses Academic Courses Degree Courses Business Administration Courses MCE/HSC SCGCE/GCE 'A' Levels London GCE 'O' and 'A' Levels
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  • Article, Illustration
    SES RULES STEADIER
    620 7 SHARES fluctuated within narrow limits in light to moderate trading at the Stock Exchange of Singapore yesterday. Price* acroM the hoard were generally steady with no sign of any selling proasure. Major operators and institutions still stayed out of the picture, and the market remained the realm
    620 words
  • Article
    MIXED TALLY AT KLSE
    414 7 SHARE prices were mixed as trading turned erratic at the Kuala Lumpur stock market yesterday. Central Sugars, which was outperformed in last weeks trading staged a strong comeback yesterday. The share edged higher on each successive deal to post a gain of 14 cents at $2.26
    414 words
  • Article
    Lock icon New funds in US are reshaping investment
    1035 7  -  By RICHARD PHALON NYT IF ADVERSITY ha» its uses, many mutual fund managers certainly have been trying to capitalise on them. In the last five years, the funds have been forced for sheer self-survival to develop new products. The new products taxexempt bond
    NYT  -  1,035 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      370 7 HONGKONG: The market closed slightly easier In very quiet trading, dealers said on Monday. The Hang Seng Index was down 3.27 points at 440.70. Jardine Matbeaon fell 20 cents to $16.00. Swire Pacific 10 cents to $7.20. Hongkong Land 10 cents to $7.25, and HutchUion five cents to $3,275.
      370 words
    • Article
      Tokyo
      429 7 TOKYO: The market was little changed In quiet trading on lack of incentives, dealers said on Monday. The Dow Jones average closed at 5,027.61, down 0.05, with volume 100 million shares, the lowest since last July. The New index was 377.29. down 0 60. Some electrlcals and petro- leums
      429 words
    • Article
      Sydney
      383 7 SYDNEY: The market was generally lower, partly on nervousness ahead of publication of the Fox report on uranium development, dealers said on Monday. The Sydney All-ordinaries index dropped 2.53 to close at 467.04 Pancontinental fell $1.20 to $13.00. but Queensland Mine* rose' 15 cents to $2.95 and Kathleen two
      383 words
    • Article
      Manila
      150 7 MANILA: The market today closed lower across the board, with profit taking In oil and mining Issues and commercials also slightly lower, dealers said on Monday. Overall turnover, however, rose to 2.89 million pesos from Friday's 1.89 million. MAY 23 Pesos I Aco)e Mining 013 ♦0 0005 Alias Con
      150 words
    • Article
      Bangkok
      100 7 MAY 23 Bahts Asia Fibre 165 unch Bangkok Bank 299 ♦2 Bangkok Invest IMS Bangkok-Metro-politan Bank Bata 441 Berll Jucker 2S1 unch Charoong Thai Wire 1568 Dumex Duslt Thanl Paber Merlin First Trust Indo-Thai 180S -5 Industrial Finance Corp 1205S J And J Ho 209 -1 Jalaprathan Cement ue
      100 words
  • Article
    Downward drift of GNP ratio reflects gloomy future
    343 7 LONDON. Mon. In most industrialised countries over the past seven years the proportion of ONP that has gone on total advertising expenditure has shown an underlying downward trend and while there was some recovery In the ratio In 1975-6, It Is still
    343 words
  • Article
    Anic plans issue
    73 7 MILAN. Mon. Anlc plans to raise about 82.5 billion lire through a convertible bond for which it expects to finalise details later this year. Company chairman Mr. Italo Ragnl told shareholders the convertible issue will be placed with shareholders in proportion to shareholdings. The company is 92.3
    73 words
  • Article
    Mexico's Eurobond
    43 7 FRANKFURT, Mon. Mexico Is negotiating for a 100 million mark fixed seven-year maturity Eurobond with a probable 7 3/4 per cent coupon, Deutsche Bank said. Terms for the issue, Mexico's sixth mark Eurobond, will be finalised around June 3, it added.
    43 words
  • Article
    CFE
    32 7 LONDON. Mon. The Mexican state electricity concern Commission Federal de Electricidad (CFE) 100 million mark eight per cent Eurobond due 1984 was priced at par, lead manager Westdeutsche Landesbank Glrozentrale said.
    32 words
  • Article
    Lock icon FED move to tighten credit leaves money market confused
    387 7 Reuter NEW YORK, Mon. The money market trains the week on an uncertain note, as the Federal Reserve's surprise move last week to tighten its credit policy left many participants confused. analysts said. The Fed's action caught the market off guard
    Reuter  -  387 words
  • Article
    Lock icon 'PINK CHIPS' DOING WELL ON NYSE
    499 7  -  By ROBERT METZ NYT MEASURED by the bluechip Dow Jones industrial average, the stock market's performance of late has been less than spectacular. But Investors who have been concentrating on lessprominent stocks secondary issues on the big board sometimes called "pink chips" as well
    NYT  -  499 words
  • Article
    Tokyo takes a look at traded options
    435 7  -  By PAULINE CLARK JAPAN may soon be considering concrete proposals for the creation of a market in traded options In Tokyo. A delegation from the Federation of Securities Dealers Association has Just returned to Japan after visiting the U.S. and Canada where it
    435 words
  • Article
    Lock icon Bond sales rise
    73 7 Reuter FRANKFURT, Mon. Net domestic sales of new bonds on the West German capital market in April rose to 4.79 billion marks from 4.12 billion in March and 2.62 billion a year ago, the Bundesbank said. Gross bond sales last month were 6.69 billion marks after March's
    Reuter  -  73 words
  • Article
    EEC bond pricing
    66 7 PARIS. Mon. Both tranches of the USSSOO million Eurobond currently being prepared for the European Economic Community are expected to carry a 99 per cent pricmg, French primary bond market sources said. This will bring the yield on the seven year, $300 million section, which carries a
    66 words
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      106 7 111 in ACCOUNTANCY with Foulks Lynch LONDON Enrol now with FEDERAL PUBLICATIONS Home Studies Division for the following Foulks Lynch courses Association of Certified Accountants Institute of Cost and Management Accountants Association of International Accountants Institute of Taxation Institute of Accounting Staff Society of Company and Commercial Accountants institute of
      106 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      686 8 OPENING quotations In the Singapore rubber market yesterday were marked up marginally following last Friday's after hours rise, dealers said. Thereafter the market ruled inactive as most operators adopted a wait-and-see attitude but towards the morning close light buying Interest raised prices slightly, they said.
      686 words
    • Article
      Closing prices
      30 8 Rubber: May 23 Singapore: June 194.50 eta (up 1.25 cU) Malaysia: June 195.50 cts (up 0.75 cts) Tin: $1,452 (down S3) Official offering: 240 tonnes (up 70 tonnes)
      30 words
    • Article
      Straits tin
      123 8 THE Straits tin price in Penang yesterday was down $3 to $1,452 cn an official offering up 70 tonnes to 240 tonnes. In LONDON yesterday morning, tin declined by around £62 for cash and £57 for Three Months in the standard contract. High grade lost £63 and £47
      123 words
    • Article
      Produce prices
      244 8 SINGAPORE'S produce market ruled generally dull yesterday as foreign buyers remained withdrawn for want of price compatibilities. The pepper market showed a steadier undertone following reports that the selling pressure from India had temporarily ceased. According to the prices supplied by the Singapore Chinese Produce Exchange (SCPE), the
      244 words
    • Article
      SSR and SMR
      92 8 Ju at July R.A.S. (Current Mth) (Forward Mlk) Buyer* Seller* Buyer* Seller* (emu pot kg) •u per kg) SSR20 (1-ton Pallet) 192.50 193.50N 194.00 195.OON SSR50 (1-ton Pallet) 190.00 191 OON 191.50 192.50N MRE.L.B. SMR 5CV (1-ton Pallet) 217.50 219.50 219.50 221 SON SMR 5L (1-ton Pallet)
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    • Article
      Hongkong comex
      297 8 HONGKONG, Mon. Cotton futures closed lower after opening the two cents limit down in October following the Friday's sharp decline in New York, dealers said. December was actively traded to close 2.24 cents lower while other months showed losses of 1.65 to 2.89 cents. May and July were
      297 words
    • Article
      Lead
      74 8 LONDON, Mon. Lead declined in the morning by £10.50 for cash and £7.75 for Three Months and followed the downturn in copper. The settlement of the four week strike at Broken Hill's Port Plrie plant was also a factor, dealers said. Three Months dropped to £355 In the pre-market
      74 words
    • Article
      Gold
      147 8 IN the Singapore gold market yesterday, the kilobar was traded In the range of 3*11,700 to $11,730. The loco London gold hovered in the range of U*****.80 to $147.20. The London morning fix was U*****.55, down 70 cents on the previous fix. Source: Singmas Retail prices per tael quoted
      147 words
    • Article
      Copper
      115 8 LONDON, Mon. Copper wire bars lost £21 for cash and £20.50 for Three Months in the morning. Values fell sharply on the pre-market under the commission house liquidation and short selling prompted by Friday's New York close. Three Months traded down to £788 per tonne but the lower levels
      115 words
    • Article
      Silver
      68 8 LONDON, Mon. Silver lost four to 4.5 pence per troy ounce in the morning. The movement reflected Friday's New York decline, lower gold and the trend In base metals, dealers said. Selling pressure was not heavy, however, and with the modest offerings in the ring well absorbed, the market
      68 words
    • Article
      Zinc
      64 8 LONDON, Mon. Zinc fell by mostly £10.50 In the morning. Values declined in sympathy with the general trend. Three Months touching £335 during pre-mar-ket dealings under continued tired liquidation and short selling. The lower levels found sporadic shortcovering but the rally was short lived and the market finished trading
      64 words
    • Article
      Sugar
      157 8 LONDON, Mon. Terminal opened the morning easier with prices £1.45 to £2.10 down from Friday afternoon In sales of 334 lots. Market sources said the tone reflected lack of fresh news and a general feeling that the current ISO talks In Geneva will not result in a new agreement
      157 words
    • Article
      Coffee
      176 8 LONDON, Mon. Futures tended easier at the end of the opening session mainly on post weekend profittaking and switching In the July and Sept positions. Losses at end call compared to Friday's close were mostly £2 to £20 with untraded spot May technically higher with a gain of £67.
      176 words
    • Article
      Lock icon Potent biological method against the screwworm
      907 8 NYT MISSION (Texas), Mon. In the busy operations room, Mr. Oil Rodriguez made a last-minute check of his flying routes, the weather and his target. Seconds later he was out on the flight routes, climbing into the cockpit of a converted C-45 twin-engine transport
      NYT  -  907 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        497 8 TRADING on the local money market was lethargic yesterday. Overnight rates remained at the three per cent level for most of the day, with term deposit rates not showing significant shifts. Opening at the three per cent level, overnight money fell to 2% per cent before recovering to 3%
        497 words
      • Article
        Asian $ rates
        159 8 Asian rates ASIAN currency deposit interbank rate* u at elate an May 23 USMlai r»(8pa*) 7 dayi 1 mth 2 mth* 3 mth* •mths mths 12 mths .5 M 1/4 ..5 15/1# l/t l/t 5/8 3/4 &m. Fits. S l/t 5 VI 5 13/IS 3/1 La VI Dm. (nlHliprt—) 1
        159 words
      • Article
        Discount
        48 8 RANOE of prlc* offered by discount houaaa on May OemJcht l\ 23 to 3% C*n deposit 3% 11 Mh, 3-Month TTMisury btlU 3 X 1/t 3-Month Bulk btlla 4 3 7/$ 3-Month CD 1/4 4 I/> •-Monti) CD 4 7/1# 4 via Source: National Discount Co. Ltd.
        48 words
      • Article
        London
        168 8 LONDON, Mon. The US dollar edged slightly higher against major European currencies in a quiet and thin market, dealers said. News of a tighter US monetary policy, disclosed on Friday, resulted In the US unit being marked up against major European currencies, but the market is still thin after
        168 words
      • Article
        Tokyo
        141 8 TOKYO, Mon. The US dollar for overnight delivery weakened In quiet trading, closing at 277.30 yen against 277.40 at the opening and last Friday's close. Buying and selling counter-balanced each other in view of a lack of fresh factors, dealers said. The level of Import settlement needs Is relatively
        141 words
      • Article
        Hongkong
        93 8 HONGKONG, Mon. The US dollar firmed to 2.3610/15 marks from 2.3596 mld?>lnt equivalent at the New ork close, and to 2.4595/05 guilders from 2.4552, In quiet trading, dealers said. They said the rise was due to interest rate factors, and the US unit also firmed slightly to HKJ4.6975/85 from
        93 words
      • Article
        Euro $ rates
        134 8 Euro rates LONDON, Mon. Eurodollar deposit rates opened basically steady with trading slow to start after the weekend, dealers said. Period deposits were little changed from Friday's closing levels but One Month was around 1/4 point lower, reflecting the loss of a Friday end of period. Interest on rollover account
        134 words
      • Article
        Minimum lending rates (in %)
        65 8 Minimum lending rates (in acbc 6*4 First Chicago 6*4 Algemene Bank 6* Citibank 6*4 Bangkok Bank 7 HSBC 7 Bank of America 6 J i Indosuez 6\ Bank of China 7 Malayan Banking 6*4 Bank of Tokyo 6*« Mitsui Bank 6 J Bank Negara Indonesia OCBC 6*4 7 OUB 6
        65 words
      • Article
        Australia/NZ
        47 8 AUSTRALIA/NZ exchanges quoted on May 23 Australia: Sterling 0.6462/0.6391 US dollar 1.1061/1.1013 Ninety-day air mail buying rates: Sterling 0.6637 US dollars 1.1311 Ninety-day forward buying rates: Sterling 0.6441 US dollars 1.0943 New Zealand: Sterling 0.5601/0.5570 US dollar 0.9666/0.9566 Ninety-day forward rate: Sterling 0.5779 US dollar 0.9867
        47 words
      • Article
        Frankfurt
        42 8 FRANKFURT exchanges opening quotes on May 23 were delayed. The following are closing quotations for May 20: US 2.3585/95 Can 2.2480/90 UK 4.050/054 Neth 95.98/96.03 Switz 93.65/70 Italy 2.655/665 France 47.55/60 Japan 0.8500/10 Belg comm 6.535/545 Belg fin 6.52/53 Norw 44.65/70
        42 words
      • Article
        Eurobond prices
        222 8 LONDON, Mon. Straight Eurobonds were basically unchanged In dull trading. Dealers said the meeting of the Association of International Bond Dealers taking place this week is likely to subdue activity in the bond market for the rest of the week. The Olivetti International SA Luxembourg $40 million 9%
        222 words
    • Article
      Lock icon Taipeh to buy from Aussies
      225 8 Reuter TAIPEH, Mon. Taiwan has contracted to buy 7.5 million tonnes of iron ore and seven million tonnes of coking coal from Australia for Its new steel mill at Kaohslung, a China Steel Corp spokesman said. The Iron ore will be shipped over the next
      Reuter  -  225 words
    • Article
      Rice
      227 8 BANGKOK, Mon. Indicative prices for rice quoted in Bangkok were: (US dollar* per tonne fob baste Bangkok) White Rice: 100 per cent lft class 289 100 per cent 2nd 214 100 per cent 3rd 270 5 per cent 253 10 per cent 231 IS per cent 234 20 per
      227 words
    • Article
      Lock icon Licences of tardy importers revoked
      194 8 Reuter NEW DELHI, Mon. The Indian Government served notice It is cancelling 4,800 million rupees worth of licences to Import edible vegetable oils and oilseeds because the imported licence holders have not moved fast enough to arrange the Imports. A notification Issued by the government
      Reuter  -  194 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      136 8 Have you M y our copyofdiel9J6/?7 BUKUMERAH? The complete filing cabinet on the Singapore business scene ALPHABETICAL INDEX OFFICIALS AND PUBLIC BODIES The Straits Timet DIRECTORY OF SINGAPORE 197&77 M group FRAS€ft&N^ It's the 1976/77 "Red Book" the office/library reference book covering the business scene in Singapore. It is complete.
      136 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      More work for S'pore shipyards
      913 9  -  By MICHAEL CONNORS SINGAPORE shipyards will benefit from a newly opened West Asian-Japan liquefied natural gas (LNO) tanker service, as the huge tankers will be calling at the Republic's yards for regular maintenance and overhaul. This was disclosed in an interview here by Mr. Kenneth
      913 words
    • Article
      Lock icon $9.6m deal to build container ship
      106 9 AP HONGKONG, Mon. A US$4 million (559.6 million) contract for the construction of the first container ship to travel between China and Japan was signed over the weekend. Prompt Shipping Corporation of Hongkong made the agreement with Tokyo Menka Kaisha Ltd., a Tokyo trading
      AP  -  106 words
    • Article, Illustration
      ICAO favours use of InterScan in airports
      403 9 INTERSCAN, a microwave aircraft landing system developed by Australian scientists, has been recommended by the International Civil Aviation Organisation (Icao) for International use at all world airports. The recommendation, by the 10-member All-Weather Operations Panel of ICAO, will be put to a world-wide
      403 words
    • Article
      Lock icon SEVEN CAR FIRMS WANT PRICE CONTROLS EXCLUDED
      211 9 AP BUENOS AIRES, Mon. Seven of the nine foreign carmakers operating in Argentina have asked the military government to exclude them from current price controls, car Industry sources said. It was not known If the government agreed to the request. Making the request
      AP  -  211 words
    • Article, Illustration
      IN PORT
      489 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Barge SC 1506J (0800 alongside tai Ping) 6/7 Cherry Vilja (B. Barge) (after Centaur) 42/43 Don Kwang (after Javara) 44 Golden Lake (after Able Reefer) 40/41 Javara (JWTT) (Car Carrier) (0600) (Must starboard to) 44/45 Klmanls (1700 after Perils) (Req. starboard to) 20
      489 words
    • Article
      Lock icon Foreign car sales top records
      557 9 LOS ANGELES, Monday UPI Reuter FLUSHED with their two most successful sales months ever, top foreign carmakers are optimistically revising their sales forecast upward and now expect to top last year's pace by more than 17 per cent. Toyota, Datsun, Volkswagen and Honda executives said
      UPI; Reuter  -  557 words
    • Article
      Ben Ocean
      277 9 BEN OCEAN is basically a joist conventional UK /Far East service whose members comprise Ben Lino, Blue Funnel, Glen Line and NBMO. This Mrvice was initiated on March 1*75. The service itself is divided into four sector service#, namely D, R, X, and Y. From Singapore, Ben Ocean
      277 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      606 9 arrivals Service Local Operator Number Time From CAL TMA MAS PAA CAL SIA OIA OIA SIA RBA SIA CPA MAS OIA OIA CI 331 TL303B MH682 PA847 CI 806 SQ211 GA960 GA908 SQ240 BI325 SQ201 CX003 MH684 OA944 OA982 0040 0215 0810 0830 1000 1015 1030 1100
      606 words
    • Article
      Esso underwater repair work
      88 9 REMEDIAL works to the Esso SBM (single buoy mooring) In latitude 1 degree 13' 49"N, longitude 103 degree 41' 30"E and Its associated submarine pipeline system will be carried out from May 26 Iq June 30. The underwater repair work will be carried out within a
      88 words
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      Page 9 Advertisements Column 1
      293 9 2 remarkable accounts of the Japanese Occupation SYONAN MY STORY Mam oru Shinozaki 19 x 13cm; 123 pages; limp; 556.50 The occupation of Singapore was, for those who survived it, a profound traumatic experience/Many, of course, did not survive it at all; and memories of mass murders and senseless brutalities
      293 words
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  • Article, Illustration
    Lock icon West Asian labyrinths
    1127 10  -  By A.H. HERMANN FT ARAB negotiators have a tendency to play down the importance of elborate written agreements, maintaining that they are used to doing things "simply" and that Western parties to a deal had to complicate matters unnecessarily. Some western businessmen tend to reach much the
    FT  -  1,127 words
  • Article
    Lock icon CAIRO STOCK EXCHANGE COMES TO LIFE AGAIN
    1138 10  -  By BOB ALLISON FT THE Egyptian Gazette, Cairo's English language daily, recently used a twocolumn headline to proclaim: "Cairo Stock Exchange to be reopened immediately." The newspaper is not any better informed than most Egyptians, who believe that, the late Gamal Abdel Nasser
    FT  -  1,138 words
  • Article, Illustration
    Big task for Komplex Kewangan
    1360 10  -  NOORJAHAN KARIM and ABDUL KADIR JASIN report from Lumpur on the progress of Komplex Kewangan Malaysia in its objectives of helping bumiputras in the corporate sector. NOORJAHAN KARIM ABDUL KADIR JASIN ALTHOUGH Komplek Kewangan Malaysia Berhad has listed its objectives simply as increasing the numbel*
    1,360 words
  • Article, Illustration
    Lock icon Conditions ripe for global food reserve system talks
    724 10  -  By C. FARNSWORTH NYT THIRTY months ago at the world food conference in Rome there was an International undertaking to establish a system of food security to prevent recurrence of the kind of shortages that were then causing millions of people to
    NYT  -  724 words
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      Page 10 Advertisements Column 1
      190 10 Give us a man fbramonthwe'N give him a inlngua now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency in a language they need.
      190 words
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  • Article
    Lock icon TRADE OUTLOOK WITH CHINA — HSBC CHIEF
    559 11 TRADE OUTLOOK WITH CHINA HSBC CHIEF Reuter TOKYO, Mon. Hongkong and Shanghai Banking Corp chairman Ouy Saver said the level of Chinese exports Is the key to trade with China, and Is dependent not only on the surplus the regime can squeese out oT the economy but on what others
    Reuter  -  559 words
  • Article, Illustration
    Still not overbanked despite 70 here
    487 11 SINGAPORE Is not "overbanked" although there i are now more than 70 banks I doing business here. 1 This Is the view of Mr. Holger Frlolet des Coudres, deputy manager of the 1 European Asian Bank a i high-powered consortium of seven European Banks.
    487 words
  • Article
    Work on one-stop complex starts
    150 11 WORK has started on a $28 million shopping complex a 10-storey building offering facilities for onestop shopping at Selegle Road. The site, succesfully tendered for by Poncho (Pte), covers 3,866 square metres. The project is scheduled for completion In 1979. A spokesman for the Urban
    150 words
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    FNBC sues
    113 11 FIRST National Bank of Chicago (FNBC) sued How Lee Realty Pte. Ltd. and three others for $3,323,324.62 In a writ filed at the High Court yesterday. The sum was allegedly due and owing to the plaintiff. Poh Heng Goldsmiths (Pte) Ltd also filed a suit against Leong Hon
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    Jail for share cert thief
    89 11 A FORMER shares trading clerk, Joseph Llm Yong Sain was Jailed for three months by a district court yesterday for stealing 31 share certificates amounting to $50,795. Llm had pleaded guilty to two counts of stealing certificates on Sept. 30 last year at Straits Trading
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    More and more sign up for Arab business meet
    317 11 WITH about nine day* left before the start of the twoday conference on Arab business opportunities In the Arab world on June 2, the organisers are now receiving encouraging response from local firms. The number of registrants for the conference has
    317 words
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    Malaysian bid to boost exports to E. Europe
    459 11 KUALA LUMPUR, Mon. Malaysia's trade balance with socialist countries of Eastern Europe, already heavily in Its favour, may be further enhanced by an export promotion campaign being planned by the international Trade Division of the Ministry of Trade and Industry. The campaign
    459 words
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    Lock icon Another $320m loan sought
    93 11 Reuter MANILA, Mon. Thl Philippines Is negotiating for almost ÜBS 130 (Ss32o million) In additional financial assistance this year from the Japanese Government, the National Economic and Development Authority (Neda) said. The proposed loans would finance 13 selected development projects, Including the second phase of the
    Reuter  -  93 words
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    Lock icon Japan to import more silk
    107 11 Reuter SEOUL, Mon. Japan will buy slightly more silk products from South Korea this year than last year under an agreement reached here, the Korean Foreign Ministry said. Japan will Increase Imports of Korean raw silk and thrown silk to 41,000 bales ftom 40,000 last
    Reuter  -  107 words
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    Lock icon Step-up of growth will fuel pollution
    295 11 AP TOKYO. Mon. Japan's environment protection chief today disagreed with his government's goal of achieving and maintaining an annual economic growth rate of six to seven per cent. He said It would add to pollution hazards. Prime Minister Takeo Fukuda promised the May economic
    AP  -  295 words
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    Lock icon TEMPORARY FISHING PACT
    70 11 UPI MOSCOW, Mon. Soviet and Japanese negotiators completed final work today on a temporary fishing agreement which will be Initialled tomorrow. The narrow agreement will permit Japanese fishermen to resume operations in the Soviet Union's new 320-km offshore economic zone on its Pacific coast. Japanese sources said
    UPI  -  70 words
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    ITB sets up service to help find jobs for graduates
    462 11 THE Industrial Training Board has started a Job placement service for its graduates. The board has also been restructured and Its new apprenticeship and placement division now has seven officers meeting regularly with manufacturers to determine their needs, according to
    462 words
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    Lock icon LABOUR UNREST REARS ITS UGLY HEAD AGAIN
    684 11 Reuter NEW DELHI, Mon. India's trade unions have sprung to life after being put virtually out of business during the 21 months of internal emergency rule and this has led to a rash of strikes. The most serious are a dock workers' strike
    Reuter  -  684 words
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    CPF QUERY FOR HON IN HOUSE
    391 11 THE MINISTER of Ftbom, Mr. Ha M Sa, will bo naked i» hrilwt tkia Friday, wkKkr the current Pealul Tt 11 Mai Fund rate of eoatributioa of 15 per cent is the ultimata limit to be levied. The gnaottsu, tabled for oral answer, by
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    OFFSHOOT OF MORIMOTO GETS PIONEER STATUS
    82 11 MORIMOTO Manufacturing Singapore, a aubaidiary of Morimoto Manufacturing of Japan, has boon given pioneer atatua by the Singapore Government for the manufacture of iaduatrial Bowing machinea. Mr. T. Moronioto, preaident of the parent company, will be in Singapore on May 27 to aanounce the
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    Lock icon 'Yen bond issues to increase'
    361 11 Reuter TOKYO, Mon. Japanese Finance Minister Hideo Boh said he expects yen bond flotations In Japan by foreign borrowers will increase in future, particularly In view of the recent decline In Japanese Interest rates. In a luncheon address to the International Monetary Conference meeting here,
    Reuter  -  361 words
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    Lock icon FUKUDA: STEP UP IMPORTS
    287 11 AP Reuter TOKYO, Mon. Prime Minister Takeo Fukuda asked trade and business leaders today to avoid "downpours" of Japanese exports on foreign markets, and to step up Japan's Imports. Mr. Fukuda's meeting with the trade executives followed his summit rfieettng in London with the leaders of
    AP; Reuter  -  287 words
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    Lock icon Curbing of borrowings
    85 11 Reuter TOKYO, Mon. The Finance Ministry may Invoke the reserve deposit requirement system for commercial banks' external liabilities shortly, ministry sources said. The ratio of reserve deposits to be imposed will be small, probably less than three per cent, they said. The system was Intro- duced In
    Reuter  -  85 words
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      313 11 APPOINTMENTS A Leoding Japanese Heavy Machineries and Equipments manufacturer based in Singapore invites applications for the post of ASSISTANT SALES MANAGER (TECHNICAL) The successful candidate will be required to travel to Malaysia as well as Indonesia for marketing strategy, planning, implementation and sales promotion of Industrial Equipments such as full
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      252 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 Man Male Citizen, age between 25 to 35. University graduate in Mechanical Engineering with 2-3 years marketing experience.
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    Lock icon Aramco warns of supply cutbacks for two months
    760 12 UPI BEIRUT, Mon. Despite hopes of keeping oil exports steady, the ArabianAmerican Oil Company has Issued "force majeure" warnings that deliveries may suffer cutbacks in May and June as a result of a major fire at Saudi Arabia's Abqalq field, the Middle
    UPI  -  760 words
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    Sadli predicts uniform oil price by year-end
    443 12 JAKARTA, Mon. The world oil cartel will agree to a uniform pried on crude oil before the end of the year In order to preserve the unity of the Organisation of Oil Exporting Countries (Opec), according to Indonesia's Minister of Mines, Mr. Mohammad
    443 words
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    Helping former convicts find jobs
    144 12 THE prisoners cooperative, now in the planning stage, will approach industrial establishments and commercial firms to secure Jobs for ex-convicts. Mr. Baey Lian Peck, chairman of the Singapore Corportion of Rehabilitative Enterprises (SCORE), which is setting up the co-operative, said yesterday, "the cooperative will stand
    144 words
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    Lock icon Below average rubber output expected
    415 12 Reuter LOW rainfall in most of Peninsular Malaysia In the first four months this year has prolonged the seasonal wintering effect on rubber yields In northern and central rubber growing areas. Some trade sources said they expected production to remain below normal, possibly until the
    Reuter  -  415 words
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    LONDON STOCKS
    700 12 LONDON. Mon. Equities declined but were off lows at the close. At 3.00 the Financial Times index was down 8.1 at 453.2 Government bonds and equities were Initially lower following a gloomy survey of Industrial trends by the Confederation of British industry and press comment on the rise
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    Lock icon Ex-oil executive held
    83 12 Reuter ROME, Mon. The former president of Exxon Oil's Italian subsidiary, Esso Italiana, Mr. Vincenzo Cazzaniga, was arrested here last night on charges of misappropriation of funds and falsifying accounts, police said. Mr. Cazzanlga was chief executive ot, Esso Italiana from 1951 until 1971. The following year,
    Reuter  -  83 words
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    NTUC to set up coops in various fields?
    235 12 TflE NATIONAL Trad* Uaion Congress (NTUC) is oontompUfl— Nttia| up now cooperativee ka urtwii fields to cater to the noode of lb public Motor, ketoli, inilnototoc aKAMkifitf ottflvTMSi CQ9KPOT mad other private enterPC ThL io a direct nook of the recent tkree
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    Ong for Labour Ministers' meet
    118 12 THE LABOUR Minister Mr. Ong Pang Boon will at* tend the Second Labour Minister a' Meeting to be held in Pattaya from Mny 26-28. He will be accompanied by the Deputy Commiaaioner for Labour, Mr. Tan Peng 800 and the head of the Labour Inapectorate,
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    Air accord
    21 12 AN air traffic agreement between Singapore and the Philippines will be signed this afternoon at the Paya Lebar Airport.
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    Lock icon AUSSIE MINERS SEE MORE THAN A FLASH IN THE PAN
    903 12 AP SYDNEY, Mon. Australia Is on the threshold of a new major expansion in resource development after a five-year pause dictated by controversial politics, economic doubts and International recession. The country's mining Industry leaders have plunged into a new round
    AP  -  903 words
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    Boost for safety belt dealers
    542 12 LOCAL accessories and spare parts dealers are expecting a sharp rise in sales of cat safety belts, following the new rules announced last Saturday. The government has said that all new cars and station wagons registered from Jan, 1 next year will be required to
    542 words
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    Company ordered to open its books
    425 12 KUALA LUMPUR, Mon. The High Court has ordered Belmont Properties to open its books to a firm of accountants in connection with a winding-up petition brought by two companies. In a decision handed down by Mr. Justice Abdul Hamld last Monday, the directors of
    425 words
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    Metal Box production nearly back to normal
    223 12 PRODUCTION at Metal Box Singapore has almost returned to normal after being bogged down by labour disputes which lasted nearly two months. This followed a recent relectlon by the Labour itlnlster of four appeals made by the Singapore Metal Box Workers' Union (SMBWU)
    223 words
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    Lock icon EEC plans for steel
    94 12 Reuter BRUSSELS, Mon. The European Common Market's long-term plans to revitalise Its crlsls-hlt steel Industry will provide a framework for future Investment plans. Commissioner Roy Jenkins said today. Under the plans, "significant" sized loans can 6e raised to boost employment for steel workers made redundant by
    Reuter  -  94 words
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    Bankers' role in promoting Asean growth
    284 12 ASEAN bankers bear the heavy responsibility of promoting economic growth and closer cooperation In the region. They can also help to play a part In the future success and prosperity of Asean. Singapore's Ambassador to Indonesia. Rahlm Ishak, stressed this point when he opened
    284 words
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    Three Bills for Parliament
    110 12 TWO ministers will Introduce bills for this Friday's sitting of Parliament which will require a presidential recommendation. Under the Constitution, any bill which has an effect on taxation, either through the remission or Increase In allowances due under any tax or increases or decreases in expenditure
    110 words
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    More reliefs sought for handicapped
    141 12 THE Singapore Council of Social Service has officially approached the Government for additional tax reliefs for its members and for the handicapped. It submitted a memorandum to the Finance Ministry recently, seeking a waiver of estate duty on bequests to charity, which would be consistent
    141 words
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    Dock opening
    31 12 MR. Ong Teng Cheong, the senior Minister of State (Communications) will officiate at the opening of Hitachi Zosen Robin Dockyard's No 2 drydock and related facilities on June 4.
    31 words
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