The Business Times, 3 June 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 FRIDAY, JUNE 3, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Freeze on coffee ads
      78 1 Reuter PARIS, Thurs. French television has suspended coffee advertisements for three months at the government's request because the high cost of Imports is affecting the country's economy, an official spokesman said today. The price of coffee has risen sixfold in two years and now stands at
      Reuter  -  78 words
    • Article
      Lock icon Swiss banking accord
      66 1 UPI ZURICH, Thurs. Swiss banks, rocked recently by a wave of scandals, agreed today to tighten controls to prevent abuse of Switzerland's banking secrecy regulations. Under a five-year convention between the Swiss National Bank,'the private banks and the Swiss Bankers Association, they pledged In particular to be
      UPI  -  66 words
    • Article
      Lock icon UK reserves down
      53 1 UPI LONDON, Thurs. Britain's gold and dollar reserves fell by US$229 million (***** million) in May to $9.9 billion, the Treasury announced today. A further $360 million was drawn from the International Monetary Fund stand-by credit, and there was foreign currency borrowing by the public sector of
      UPI  -  53 words
    • Article
      Secret visit
      57 1 KUALA LUMPUR, Thurs. The chairman of Exxon, Mr. Clifton Garvin, is here on a four-day hush-hush visit. He is accompanied by two senior company officials. It is understood that they had lunch with the Malaysian Prime Minister, Datuk Hussein Onn today. Also present was Raja Tan Sri Mohar,
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    • Article
      Ship fire kills two
      63 1 TWO crew members were killed and three others were listed as missing in a 10-hour fire which ravaged the cruise ship Rasa Sayang in the Straits of Malacca yesterday. All the 653 passengers were saved by a Japanese tanker. The 18,500-ton vessels will be returning to
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    • Article
      Lock icon Shares oversubscribed
      42 1 Reuter HONGKONG, Thurs. Applications for the 55 million HK$l nominal shares of Swire Properties offered at $2.75 a share totalled 202.71 million shares, Hambro Pacific and Wardley said as issue managers. The basis of allotment will be announced tomorrow. Reuter
      Reuter  -  42 words
    • Article
      Lock icon Dow Jones
      100 1 UPI NEW YORK, Thurs. Stocks were higher early today in fairly active trading of New York Stock Exchange issues. The Dow Jones industrial average, up 3.30 points in the first half hour, was ahead 1.78 points to 908.33 shortly before the first hour of trading. The blue-chip average
      UPI  -  100 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      175 1 SPECULATIVE shares overcame an early round of selling and scored substantial gains in active trading at the Stock Exchange of Singapore yesterday. Reflecting the sharp gains, the Business Times index soared 17.53 points its biggest single rise todate to 295.61. The Straits Times Industrial index also recorded
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    • Article
      In Kuala Lumpur
      111 1 Rises Most active M. Flour Y.H.S.(M) Cent. Sec. Pan Elect P. Carbide Pacific Dev. 3.00 1.44 1.74 1.86 1.37 .36 .28 .26 .20 .20 C. Securities 1,192,000 G. Lumber 715,000 Pacific Dev 651,000 Perak Carbide 56,000 Total Turnover: 5.31 M 1.96 +.17 Total Value: MS8.63M. Gentlngs Inchcape
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  • Article
    Lock icon Midland Bank wants to join hands with ADB
    363 1 Reuter MANILA, Thurs. Britain's Midland Bank Group is discussing with the Manila-based Asian Development Bank the possibility of entering some form of co-financing arrangements for projects in the region as part of schemes wing looked at to extend resources to developing countries.
    Reuter  -  363 words
  • Article
    Lock icon Rich and poor reject West's energy plan
    940 1 DIALOGUE OF THE DEAF AP Reuter PARIS, Thurs Hard line oil producing nations refused to agree to western demands for a permanent organisation to regulate the price and supply of petroleum, bringing the 18month old conference on International economic cooperation to a bitter
    AP; Reuter  -  940 words
  • Article, Illustration
    Oregon move will not set trend
    727 1 THE first US bank representative office to close its doors here in 2Vt years Is doing so because it has not found the business It had hoped to do when it opened its office in Singapore back in 1974. The cessation of operations of
    727 words
  • Article
    Lock icon Growth in Japan's GNP accelerates
    383 1 Reuter TOKYO, Thurs. Japan's gross national product Increased 2.5 per cent in real terms In the first quarter of this year from the fourth quarter of 1976, when It rose by a revised 0.7 per cent from the third quarter, the Economic Planning Agency announced.
    Reuter  -  383 words
  • Article, Illustration
    Bulls come back to the market in force
    238 1 SPECULATORS appeared to have thrown caution to the wind yesterday when they gave massive buying support to aecood and third line stocks on the Stock Exchange of Singapore and the Kuala Lumpur Stock Exchange. This buying led to very sharp rises in
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  • Article
    Details of amendments to Income Tax Act
    458 1 A BILL seeking to amend the Income Tax Act so as to provide for concessional rates of tax for offshore Income derived by the Asian Currency Units of financial Institutions from advising or confirming offshore letters of credit had Its first reading in
    458 words
  • Article
    Lock icon Call to stabilise rubber prices
    109 1 Reuter GENEVA, Thurs. Leading natural rubber producing countries circulated here today proposals for producer-con-sumer arrangement to stabilise rubber prices based on a 400.000 tonnes reserve buffer stockpile and supported by supply control measures. The proposals were contained in a document drafted by the seven-na-tion Association
    Reuter  -  109 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      63 1 SEXTUS DE SUVA OtPaiter jeweller FOR FINE JEWELS DIAMONDS GEMS i EXTUS D€ SILVA« HYDE (PTE) LTD JEWELLERS OF DISTINCTION COLO STORAGE ARCADE 179, ORCHARD ROD, SINGAPORE 9 TEL3»B63 Overmi Newt/ TV A Radio Local Co News International Co Newt Local Stocks Overseas Stock P 7 Commodities P 8 Transport
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    • Advertisement
      Page 1 Advertisements Column 2
      101 1 Copy large size originals on one sheet, size for size— no trimming, no sticking together. Xerox 3103 No matter what the originals. Up to 14" by 18" or 356 mm by 457 mm. Solids. Half tones. Or pale blue. The Xerox 3103 gives perfect reproductions. Every time. Size for size.
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      Page 1 Advertisements Column 3
      4 1 9 SEE BACK PAGE
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      Page 1 Advertisements Column 4
      182 1 ?)=:+%}!/~'*:"(|{<][?\.^}/(~|'; The Corporate Dollar Capital Idle Working Capital Overheads Taxes Reinvestment Cash ✓1: W,„ Wi hrs&Li WEN k "Tr-tn Put your idle cash to work with American Express International Whether you do business in one currency or a dozen, at a single location or around the world: We can put
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  • OVERSEAS
    • Article
      Lock icon INTEREST RATES: CARTER AIDE SNIPES AT FED
      779 2 AP WASHINGTON, Thurs. The recent Increases in interest rates by some banks in the United States could undermine confidence in the American economy and worsen the US Inflation rate. President Carter's Budget Director said yesterday. Although the bank increases have been in shortterm
      AP  -  779 words
    • Article
      Lock icon Saudi oil fire impact may not be serious
      299 2 Reuter AP NEW YORK Thurs. The fire at A.amco's Abqaiq crude oil pumping station in Saudi Arabia may not be as serious as first thought because stockpiling in oilImporting countries may help bridge any temporary gap. Citibank said. The fire, however, may
      Reuter; AP  -  299 words
    • Article
      Lock icon Labour cost of steel
      127 2 Reuter WASHINGTON, Thurs. The US Council on Wage and Price Stability estimated that nearly half the cost impact of the April wage contract settlement in the steel industry was contained in the first year. After assuming inflation and productivity gains, the council in a report issued
      Reuter  -  127 words
    • Article
      Lock icon Mexico is optimistic
      67 2 Reuter NEW YORK, Thurs. Mexico will exceed the targets set In December last year under its six-year development programme for the oil industry, state oil company Petroleos Mexicanos director general, Jorge Diaz Serrano said. In remarks prepared for a national energy foundation dinner, he said Mexican oil
      Reuter  -  67 words
    • Article
      Lock icon Jobless rate in US will drop further
      223 2 Reuter WASHINGTON, Thurs. Labour Secretary Ray Marshall said he expects the US unemployment rate to continue to drop during the rest of the year, but he would not predict what the rate would be by the end of this year. "I expect gradual
      Reuter  -  223 words
    • Article
      Lock icon Carter's petrol plea falls on deaf ears
      319 2 Washington Star WASHINGTON, Thurs. Despite President Carter's repeated call to begin reducing energy use, petrol consumption in the US appears to be headed for a record high this summer. Based on available statistics, Federal Energy Administrator John O'Leary is predicting that drivers will
      Washington Star  -  319 words
    • Article
      Lock icon UK government signs N-Sea oil pact with BP
      212 2 Reuter LONDON. Thurs. Energy secretary Anthony Wedgewood Benn said he has signed a North Sea oil and know-how participation agreement with British Petroleum. The deal gives the government's British National Oil Corp (BNOC) the option to buy. at market rates, up to
      Reuter  -  212 words
    • Article
      Lock icon If UK can reduce its inflation rate ...
      160 2 If UK can reduce its inflation rate Reuter LONDON, Thurs. The International Monetary Fund team currently studying the UK economy is optimistic about the country's prospects provided inflation can be reduced to single figures by the end of 1978, Chancellor Denis Healey told the National Economic Development Council. NEDC director
      Reuter  -  160 words
    • Article
      Lock icon IMF role in lending will remain limited
      414 2 Reuter FRANKFURT, Thurs. International Monetary Fund loans will continue to make up only a relatively small part of total international credit, even when the fund's new supplementary facility comes into force, according to new Bundesbank president Otmar Emminger The private sector will inevitably
      Reuter  -  414 words
    • Article
      Lock icon Higher COL in Bonn
      59 2 Reuter WIESBADEN, (Germany), Thurs. The West German cost of living index posted a provisional 3.8 per cent year-on-year rise in May, a Federal Statistics Office official said. In April, the year-on-year gain was also 3.8 per cent revised. The month-on-month rise in May was 0.4 per
      Reuter  -  59 words
    • Article
      Lock icon Central Banks still prominent in world exchange markets
      484 2 Reuter NEW YORK, Thurs. Western central bank foreign exchange market gross intervention fell slightly to US$2O billion (Ss49 billion) in February to end April from a record S2l billion the previous quarter. New York Federal Reserve Bank said. Fed executive vice president
      Reuter  -  484 words
    • Article
      Lock icon Fraser sees golden decade for minerals
      376 2 UPI LONDON. Thurs. Australian Prime Minister Mr. Malcolm Fraser told British businessmen today another decade of major mineral development Is unfolding in Australia, and there Is a need of capital Investment. Speaking at a luncheon given in his honor at the City of London
      UPI  -  376 words
    • Article
      Lock icon 'Uranium supply will be safeguard'
      154 2 UPI CANBERRA. Thurs. Acting Prime Minister and Minister for Natural Resources Mr. Douglas Anthony said yesterday in Parliament Australia should begin as soon as possible supplying the rest of the world with uranium in order to prevent premature development of plutonlum. If this Is done,
      UPI  -  154 words
    • Article
      Lock icon LEBANON MAY LIFT BANK MORATORIUM
      459 2 AP BEIRUT, Wed. Finance Minister Farid RoDhael urged yesterday that Lebanon's 10-year-old moratorium on new banks be lifted without delay. "The purpose of the moratorium was to encourage the purchase of existing banks which needed liquidity to Improve their financial situation. This situation no longer
      AP  -  459 words
    • Article
      Lock icon Record coal sales likely by NSW
      105 2 UPI SYDNEY. Thurs. The New South Wales coal mining industry expects to sell record quantities of coal in 1976-77. reversing a downturn in 1975-76, according to the Joint Coal Board's annual report presented in Federal Parliament yesterday. The coal Industry continued to expand during
      UPI  -  105 words
    • Article
      Lock icon Intervention not the cure for US forex woes
      374 2 Reuter NEW YORK. Thurs. The New York Federal Reserve bank is discussing with foreign exchange market participants ways to improve trading but does not consider increased intervention would help. Fed vice president in the foreign function Scott Pardee said. He told questioners
      Reuter  -  374 words
    • Article
      Lock icon Employees steal more than thieves
      149 2 UPI NEW YORK. Wed Employees of US companies and stores steal more from their firms than the nation's armed robbers, burglars and car thieves, according to a study released here yesterday. Employee theft cases in the United States doubled in the past five years to
      UPI  -  149 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      114 2 KK M Senior Consattaiit required for Singapore branch of the world's largest public relations/public affairs consultancy Work involves service of mojor controct clients regular contact with clients at senior management level, publicity and promotions, attitude studies, magazine production, report writing, planning and supervision of events such as seminars and workshops.
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      Page 2 Advertisements Column 2
      3 2 SEE PAGE 10
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      304 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on June 2 at Singapore airport. Maximum Temperature Associated Humidity Minimum Temperature Associated Humidity Hours of Sunshine Rainfall in Millimetres Total Rainfall for the Month Total Rainy Days for the Month RADIO TV SINGAPORE 5 3.00 PM Opening and
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      275 3 Our world bankers workaround the world, around the dock. llij Sr f 1 'i n r JM k >\\\v IW rv if NflpMf imf W- W*' -I? Wty'r •I Jlk 3 t. i- f < .-.yi ;|i 'C tW: w V illir ill Tokyo. 6:07 p.m. K. Furuhata, Fujitsu (left);
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  • COMPANY NEWS
    • Article
      Inchcape recovery likely to continue
      821 4 PROFITS for the first quarter of 1977 at Inchcape have matched those for the 1976 quarter and current indications suggest some improvement for the group. But. according to Inchcape chairman. Mr. A. A. Webster those signs do not constitute any firm trend and he declined
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    • Article
      TAN CHONG MOTORS RISES MARGINALLY
      307 4 TAN CHONG MOTORS failed to maintain the profit-making momentum in the first half of 1976 and closed the full year ended Dec 31. 1976 wuh a marginal increase of seven per cent in group pre-tax profit to M 57.49 million. The result looks particularly meagre
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    • Article
      DIVIDENDS ANNOUNCED
      735 4 Current payment Ex Date Date payable Total for the year Total for previous year Bou stead 12 5% May 17 June 4 27.5% 20* 10 5% 50% 12.5% 11 4a 18% 25% 40% 17.5% 10% 3% 5.8% 30% Malakoff Kent (FMS) Tin P.M. Holding* U.O.B. 6% 150% 5%
      735 words
    • Article
      Gula NS plans to import raw sugar
      450 4 GULA Negeri Sembilan plans to import between 80.000 and 100,000 tons of raw sugar in the next three years to meet its refining demand while waiting for adequate raws to be produced locally. Permission to do so has been obtained from the Malaysian
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    • Article
      Setback at Sin Heng Chan
      256 4 AFTER enjoying uninterrupted profit growth in the past four years. Sin Heng Chan got its first taste of a profit setback, albeit marginal. last year. Pre-tax profit for this animal feed company eased about five per cent to M 54.35 million for the year ended
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    • Article
      MAY TURNOVER
      89 4 MOST ACTIVE MAY STOCKS: Central Sugars (8,951,000); Haw Par International (7,595,000); General Lumber (7,456,000); Ben (3,137,000); Perak Carbide (3,013,000); Pacific Developments (2,740,000); Harlmau Investments (2,728,000); Central Securities (2,613,000); Pan Electric (2,024,000); Slme Darby (1,761,000); Bovls S E A. (1,668,000); Inchcape (1,527.000); Malayan Credit 1,362,000); U. 0.8. (1,253,000) and
      89 words
    • COMPANY MEETINGS
    • Article
      Lock icon MAC hits at NY budget scheme
      455 4 Reuter NEW YORK. Thurs The Municipal Assistance Corp. of New York City has released a report highly critical of the city's future budget planning. In its review of the 1978 city budget, which is required by law, MAC said It finds the city will
      Reuter  -  455 words
    • Article
      Alaska pipeline costs 10 times more than expected
      946 4  -  By Stephen M. Aug THE Alaska pipeline, once heralded as the means to transport huge supplies of cheap oil for consumption in the lower 48 states, has turned out to cost about 10 times the original estimate. And the cost of carrying
      946 words
    • Article
      CHICAGO BOARD OPTIONS
      1446 4 On June 1 TRADING In options on the Chicago Board Options Exchange on Wednesday, came to 66,418 contracts compared with 74,593 contracts on Tuesday. OPTION JLY OCT JAN STOCK Alcoa SO 5 3/8 61/4 61/2 54 3/4 Alcoa 90 5/16 1'. 13/4 54 3/4 Am Tel 55
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      226 4 THEHAMLYN PICTORIAL ATLAS OF THE WORLD A modem and comprehensive atlas has become indispensable both to students of geography and to general readers who want to understand the new economic and political shape of the world Here, for the first time, a concise fascinating and authoritative text, illustrated with striking
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Financing scheme for Mary Kathleen
      185 5 Reuter LONDON, Thurs. The Australian Oovernment and Conzlnc Riotlnto of Australia (CRA) have agreed to extend the present financing arrangements for Mary Kathleen Uranium (MKU) beyond the original limit of May 31. Rio Tlnto-Zlnc, which holds 72.6 per cent of CRA which in turn has
      Reuter  -  185 words
    • Article
      Lock icon Dae Dong, Siam Farming project
      123 5 UPI SEOUL. Thurs. South Korea's Dae Dong Industrial is pushing to construct an agricultural machine assembly plant in Thailand in a joint project with Thailand's Siam Farming. Dae Dong officials said. The officials said the US$l.5 million contract will be formally signed late this month
      UPI  -  123 words
    • Article
      Lock icon Higher income at Honda
      248 5 JAPANESE COMPANIES Reuter HONDA MOTOR made a net consolidated Income of 24.14 billion yen on sales of 828.51 billion yen for the year ended Feb 28, 1977. Since its financial year for consolidated accounts has been changed to finish at end-February instead of end-August, the company
      Reuter  -  248 words
    • Article
      Lock icon Chisso deficit soars
      141 5 UPI CHISSO has accumulated a deficit of US$99.l million, three times more than its capital, company officials said. The Tokyo Stock Exchange delists a company with a deficit celling over twice Its capital. Chlsso's sales totalled $304 million in the year ended March 31, 1977 up 12.5
      UPI  -  141 words
    • Article
      Lock icon KAWASAKI ACHIEVES INCREASED PROFIT
      235 5 Reuter AFTER-TAX profit at Kawasaki Steel rose 14 per cent to 7.75 billion yen in the year ended March 31. 1977 from £.80 billion yen. Sales rose 19 per cent to 982.88 billion yen from 824.95 billion, while earnings per share were up to 3.19 yen
      Reuter  -  235 words
    • Article
      Lock icon Kobe Steel buoyant
      198 5 Reuter KOBE STEEL has attributed the sharp rise in net income to 11.30 billion yen in the year ended March 31, 1977 from 3.23 billion yen to good steel and machinery exports. Sales rose 21.8 per cent to 896.74 billion yen (736.27 billion), and earning per share
      Reuter  -  198 words
    • Article
      Lock icon Mitsubishi profit forecast
      100 5 Reuter MITSUBISHI Chemical Industries expects a pre-tax profit of 12 billion to 13 billion ven in the year ending Jan 31, 1978 on sales of around 600 billion yen board director and general manager of the finance department, Takashi Morimoto said. This compares with a turnover of
      Reuter  -  100 words
    • Article
      Lock icon Sumitomo Metal Industries suffers setback
      203 5 Reuter THE fall In Sumitomo Metal Industries' after tax profit to 4.41 billion yen In the year ended March 31, 1977, from 12.48 billion the year before was due mainly to a sharp fall in export price of steel pipes, the company said. Sales rose
      Reuter  -  203 words
    • Article
      Marui Kako
      28 5 MARUI KAKO, a major manufacturer of polyethyrene for agricultural films, ha£ gone bankrupt with debts amounting to 11 billion yen, a private credit research company reported.
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    • Article
      Lock icon Investment by UK firms declines sharply
      229 5 Reuter BRITISH manufacturing industry has sharply reduced Its 1977 Investment Intentions since the beginning of the year, according to the latest survey conducted by the Department of Industry. The survey suggests that manufacturing firms now plan to invest In 1977 only six to 10
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    • Article
      Lock icon C. Patons to spend £20m on thread facilities
      169 5 Reuter COATS Patons expects to spend l'2o million in 1977 on its thread manufacturing facilities, mostly in Turkey and Brazil, chairman W.R. Henry said in the annual report. In addition the knitwear group will spend £6 million on modernisation and expansion and
      Reuter  -  169 words
    • Article
      Lock icon BP, Century Oils merger
      41 5 Reuter PRICES Secretary Mr. Roy Hattersley said he agreed with a Monopolies Commlsslon report that the proposed merger between British Petroleum and Century CM Is Oroup would be against the public Interest and should not go ahead.
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    • Article
      Lock icon Copper shares at its lowest level
      667 5 NYT NEW YORK, Thurs. Five months supply of copper and copper scrap overhanging the market has led domestic producers to cut prices of the metal and has helped bring about the lowest prices of the year for copper shares. Now It appears that another
      NYT  -  667 words
    • Article
      Lock icon Graenges to incur more losses
      220 5 EUROPEAN COMPANIES Reuter STOCKHOLM, Thurs. Graenges AB will make a 1977 loss of around 500 million crowns, against a 1976 loss of 284 million crowns before tax and appropriation on sales of 5.38 billion crowns, retiring managing director Mr. Johan Aakerman said. Mr. Aakerman told
      Reuter  -  220 words
    • Article
      Lock icon ECSC plans to float 18-year bond
      109 5 Reuter PARIS. Thurs The European Coal and Steel Community plans to float a US$4O million 18-year bond on the International capital market with an expected nine per cent coupon, colead manager Banque de Paris et Des Pays Bas said. The Issue price has not
      Reuter  -  109 words
    • Article
      Lock icon I. D. Bank to issue bond
      76 5 Reuter ZURICH, Thurs. Interamerlcan Development Bank will float an 80 million franc 15 year bond issue on the Swiss market later this month, secondary market sources said. Confirming the loan, Schwelzerlsche Bankgesellschaft said the issue price and coupon will be published on June 10.
      Reuter  -  76 words
    • Article
      Lock icon Voest-Alpine
      30 5 Reuter FRANKFURT, Thurs. The Voest-Alpine 100 million mark 6-3/4 per cent 12-year Eurobond Is priced at 99 per cent, a spokesman for lead manager Berliner Handels-und Frankfurterbank said. Reuter
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    • Article
      Lock icon Norges K. loan
      45 5 Reuter DUESSELDORF. Thurs, Norges Kummunalbank Is receiving a 500 million mark 10-year loan carrying an undisclosed fixed rate of Interest, loan consortium leader Westdeutsche Landesbank Olrozentrale said. The loan, guaranteed by Norway, was signed with the German banking group in Oslo yesterday.
      Reuter  -  45 words
    • Article
      Lock icon Basle
      31 5 Reuter ZURICH, Thurs. The forthcoming Canton of Basle County 60 million franc bond issue will bear a coupon of 4* percent and be issued at par, primary market sources said.
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    • Article
      Lock icon US firms' capital spending down
      172 5 NORTH AMERICAN COMPANIES Reuter CAPITAL appropriations by the 1,000 largest U.S. manufacturers fell three per cent to U5514.69 billion seasonally adjusted In the first quarter this year from $15.08 billion in the 1976 fourth quarter, the Conference Board said. The industry-sponsored research organisation said appropriations
      Reuter  -  172 words
    • Article
      Lock icon St. Regis seeks to buy Southland Paper
      165 5 Reuter ST. REGIS PAPER said It will hold talks aimed at acquiring Southland Paper Mills on the basis of 1.1 St. Regis common shares for each Southland Paper share for a total value of about US$243 million. St. Regis currently owns four million
      Reuter  -  165 words
    • Article
      Stauffer Chemical
      42 5 STAUFFER CHEMICAL said it does not produce, use or sell toxaphene, and Insecticide which the US Environmental Protection Agency said may cause cancer In humans. Stauffer Chemical said the EPA erroneously cited it as a principal makers of the product.
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    • Article
      Lock icon Bally may raise quarterly dividend
      113 5 Reuter BALLY manufacturing's board of directors will consider changing Its dividend policy in the next 90 days, President Mr William T. O' Donnell told the annual meeting. Mr. O'Donnel said that the big plnball machine maker would consider raising the quarterly dividend from the current
      Reuter  -  113 words
    • Article
      Lock icon Hertz's new standby credit agreement
      107 5 Reuter RCA Corp's Hertz Corp unit said it concluded revolving and standby credit arrangements totalling US$32O million with a group of 12 banks led by First National Bank of Chicago. The revolving Credit agreement permits Hertz to borrow up to $150 million for general corporate
      Reuter  -  107 words
    • Article
      Lock icon Occidental files suit
      59 5 Reuter OCCIDENTAL PETROLEUM has filed a suit In the Venezuelan Supreme Court seeking U5542.2 million In compensation for Investments nationalised in that country In January, 1976. The suit asks the Venezuelan Government to pay for investments made in Lake Maracalbo where Occidental worked under a service contract
      Reuter  -  59 words
    • Article
      Lock icon American Savings
      48 5 Reuter LEAD underwriters Loeb Rhoades and Blyth Eastman Dillon said an offering of US$2OO million of American Savings and Loan Association 7% per cent series A bonds due June. 1982 is under way, priced at par. American Savings Is a subsidiary of First Charter Financial. Reuter
      Reuter  -  48 words
    • Article
      Lock icon ITT, Grundig contract
      43 5 Reuter INTERNATIONAL TELEPHONE AND TELEGRAPH has reached agreement with Grundig A.G. to market the Grundig television video cassette player in Western Europe under the ITT brand name. A further agreement covering other areas, including the US is under active consideration.
      Reuter  -  43 words
    • Article
      Lock icon Mitsui (USA)
      48 5 Reuter MITSUI USA, a whollyowned unit of Mitsui (Tokyo) said It will privately place a US$5O million bond offering in the US probably in July. The company said the bond, with a seven to 15 year maturity, will carry a coupon of up to per cent.
      Reuter  -  48 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      55 5 A more sizzling show you've never seen. For when Singapore's Number One does her own thing on stage, Man, she does it with more 'pow' than anybody else. You'll love every minute of it. Sun thru' Thu: 9pm 2am Fri, Sat Eve of Holidays 9pm 3am Coming attraction at the
      55 words
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      Page 5 Advertisements Column 2
      161 5 Because You Insist On t SpouX" mini-Golf Course A Huge Plot of Open Land with a Very Limited Number of Units. An Apartment with a Bungalow Atmosphere. Spacious Children's Playground Garden. A Relaxing and Serene Environment. S V Forestry Surroundings. Linked with Botanic Gardens. Highly Artistic Design. An Olympic Class
      161 words
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  • Article
    Share Information Service
    2139 6 1977 Hick Low Company Lut Sale +orGr'» div Div c'tt Gr'« y'ld Nat P/E Vol COW) Day Hifh Low SECTION ONE INDUSTRIALS 146 133 204 92 212 101 198* 163 219 392 136 127 204 58 212 57 155 152 182 350 Acma Acma A Alcom Allied
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    Transactions in Singapore
    1580 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 Hie word Sett." Big Board
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    In Kuala Lumpur
    1701 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 Acma (1.3&B). i no mot* (2.105). Aleom (1.806). A. CAtl (0.
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  • Article
    Unit trusts
    154 6 SINGAPORE UNIT TRUST (Manager*' price* for June 3) The Commerce 1 64 1 73xd INCOME BOND UNIT (Current price*) The Saving Fund 0 88 0 94 INCOME BOND 1 05 1.11 S'pore Prog Fund 0.82 0.87 S pore Security MARA BUMIPUTRA FUND Fund 1 46 S'pore Invest 1.54
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  • Article
    Stock options
    77 6 STRIKING prices of the 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. Inchcape (June $2.40) (0.03B) (8) 0.03'/»,*(5) 0.04. UOB (June $3.40) (0.045). (Sept $3 40) (0
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  • Article
    CORPORATE BONDS
    191 6 B O T 7 5/8% 19X4 (100.000) (98' aB 98 3 <S) B O T 8 1/2% 1981 (100.000) (102 3 *B 102 7 -«S) D B S 8 1/2% 1982 (100.000) (100HB 101 >*S) DBS Converts 6 1/2% 1991 (100.000) (97 7 .8 98SS) E I B
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  • Article
    GOVERNMENT BONDS
    88 6 5 1/2% 1/4/78 (250.000) (101.508 >(4)101 58 5 1/2% 15/4/78 (250.000) (101.458 101 60S)(4)101.59 5 1/4% 15/7/78 (250.000) (101 458 101.555) 4 3/4% 1/5/*****0.000)(100.728 100 84S) 6 3/4% 15/6/80 (250.000) (103 358) 6 3/4% 1/12/80. (250.000) (103 358) 5% T F 15/4/81 (250.000) (101 458) 5% T F
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  • Article
    SES RISES SHARPLY
    607 7 THE market overcame an early round of telling and ■cored gains across the board at the Stoch Ex* change of Singapore yesterday. The opening market saw dabblers in their hesitant mood. But this soon gave way to a fresh round of buying mainly on speculative account. The
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  • Article
    PRICES SOAR ON KLSE
    535 7 THE Kuala Lumpur stock market was a hive of activity as investors went on a fresh buying spree yesterday. Both in terms of price, appreciations and volume of business, it was easily one of the most bullish sessions experienced by the market since the year started.
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      433 7 HONGKONG: The market firmed further in active trading on Thursday In reaction to Wednesday's announcement of merger plans between Hutchison and Hongkong Dock, although profit-taking pared early gains, dealers said. The Hang Seng Index rose 4.28 points to 447.60. Hutchison and Hongkong Dock were suspended at the companies' request.
      433 words
    • Article
      Tokyo
      522 7 TOKYO: Prices closed lower on Thursday, led by blue chips and populars in dull trading in the absence of new factors, dealers said. The Dow-Jones average lost 22 43 to close at 4.992 16 with volume 140 million shares. The new index closed at 376.00, down 1.55. Sony lost
      522 words
    • Article
      Manila
      175 7 MANILA: The market closed generally lower on Thursday, with minings and oils easing while commercials rose slightly. dealers said. Lower metal prices abroad depressed sentiment in the mining sector Turnover rose to 2.77 million pesos from Wednesday's 1.83 million. San Miguel was firm among commercials, but Atlaa Con A
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    • Article
      Bangkok
      97 7 JUNE 02 Bahts Asia Fibre 166 ♦3 Bangkok Bank 297 unch Bangkok Invest 176S Bangkok-Metro-politan Bank Bata 451 1 BerliJucker 254 ♦2 Charoong Thai Wire 158 -2 Dumex DusitThani 200S Faber Merlin First Trust Imlo-Thal 180S -4 Industrial Finance Corp 1195 J And J Ho 197 Jalaprathan Cement 168
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    • Article
      Sydney
      373 7 SYDNEY: The market closed firmer on Thursday but below the day's highs, with uraniums strone. dealers said. The Sydney All-Ordinaries rose 1.73 points to 461.55. Peko-Wallsend rose 14 to 5.98. while Pancontinental gained 70 to 11.20. Kathleen, Western mining and Woodside Burmah all rose and Queensland Mines closed unchanged
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    • Article
      Amsterdam
      337 7 AMSTERDAM: The market was mixed in dull trading on Wednesday with some stocks recovering on light demand from abroad, dealers said. Dutch Internationals were firmer on balance and Royal Dutch led the sector 0.70 guilders higher but Hoogovens and Akzo were both o.loTower. Elsewhere. Insurances were firmer although Ennia
      337 words
    • Article
      Brussels
      166 7 BRUSSELS: The market was quietly mixed In thin trading, on Wednesday In the absence of a clear lead from Wall Street, dealers said. Electrobel, Acec and Grvaert moved higher while Clabecq, Gb-Inno-BM and Finoutremer were lower. Oold mines were the only foreign sector to show general rises, although most
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    • Article
      Frankfurt
      357 7 FRANKFURT: Shares closed generally weaker after a firmer start In nervous trading, on Wednesday, market sources said. Mannesmann, which held an embargoed press conference on Tuesday, led the weaker trend falling 5.20 marks on rumours of lower per share earnings than previous estimated. they added. In autos. Marcodes Holding
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    • Article
      Milan
      145 7 MILAN: The market closed lower over a broad front In modest trading on Wednesday, with the Bank of Italy governor's remarks to the bank's annual meeting depressing sentiment, dealers said. All leading Industrials, banks and Insurances lost ground. Bonds were narrowly mixed. JUNE VI Lire Anlc 177 2 Assoc
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    • Article
      Paris
      356 7 PARIS: The market was generally lower In dull tradlne on Wednesday, with no special factors behind the fall, dealers said. Banks, electrlcals, foods, autos. buildings and stores declined, but rubbers and engineerings were steady while chemicals, metals and oils were irregular. Americans and golds were steady while Germans and
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    • Article
      Zurich
      275 7 ZURICH: The market closed narrowly mixed In limited activity with a more resistant undertone on Wednesday, dealers said Leading banks and insurances fluctuated narrowly. Among Irregular flnanclals, Juvena bearer firmed on revived speculative buying, while Bally bearer drifted lower. Industrials, closed steady. Dollar stocks fluctuated narrowly with an easier
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    • Article
      Toronto
      356 7 TORONTO: The market responded to positive Influences from New York In the final hour and closed modestly higher on Wednesday after being easier in earlier trading The composite was up I*4 points and advances led declines 200 to 180 Trading was light. Dome Pete gained *4 to 39V The
      356 words
    • Article
      Jo'burg
      414 7 JOHANNESBURG: Gold shares tended slightly. firmer towards the close after trading mixed on Wednesday, dealers said. They noted some London and US buying interest and a number of stocks were higher. Af Leaae featured with a 40 cents gain to SOS on local buying interest. Mining flnanclals tended easier,
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    • Article
      New York
      1197 7 NEW YORK The stock market pushed ahead In what analysts called a technical rebound, but the mood In Wall Street was unenthuslastlc on Wednesday. "There is no conviction, no buyers," said Mr. Larry Wachtel of Bache Halsey Stuart, pointing to the rela- tlvely modest trading volume. About 18
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    • Article
      Indices
      63 7 FINANCIAL TIMES INDUSTRIALS Wednesday 448.6 Tuesday 448.5 Week ago 462.5 DOW JONES AVERAGE INDUSTRIALS Wednesday 906 55 Tuesday 898.66 Week ago 903.24 LONDON DOLLAR PREMIUM Wednesday 120 to 120"i Tuesday 122*, to 123% H.K. HANG SENG Wednesday 443.32 Tuesday 374.13 Week ago 442.51 SYDNEY INDUSTRIALS Wednesday 314.35 Tuesday 374.13
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      449 8 OPENING quotations In the Singapore rubber market yesterday were marked up fractionally but prices fell back one cent at midsession on some stale bull liquidation and lack of buying interest, dealers said. Towards the morning close prices recovered slightly on short covering. Turnover was small.
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    • Article
      R.A.S. PRICES
      352 8 Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 193.50 194 50N 193 50 194.SON Int. 1 R.S.S. June 193.75 194.00 193.50 194.00 Int 1 R.S.S. July 197.25 197.75 197.00 197.50 Int. 2 R.S.S. 190 00 191.OON 190 00 191.OON UK/Cont. 189
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    • Article
      SSR AND SMR
      106 8 R.A.S. June (Current Mth) Buyers Seller* (cent* per kf) July (Forward MtJi) Buyer* Seller* (cenu per kg) SSR20 SSR50 (1-ton Pallet) (1-ton Pallet) 192 50 190 00 193.50N 191.OON 194.00 191.50 195 OON 192 50N M.R.E.L.B. SMR SCV SMR 5L SMR 5 SMR 10 SMR 20 SMR
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    • Article
      Closing prices
      30 8 Rubber: June 2 Singapore: June 193.50 eta (down 1 ct.) Malaysia: June 194.00 eta (down 1 ct) Tin: $1,441 (down $7) Official offering: 308 tonnes (down 2 tonnes)
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    • Article
      Rice
      200 8 BANGKOK, Thurs. Indicative prices for rice quoted In Bangkok were: (US dollars per tonne fob but* Bangkok) White Rice 100 per cent Ist class 294 100 per cent 2nd 278 100 per cent 3rd 275 5 per cent 262 10 per cent 238 IS per cent 236 20 per
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    • Article
      Duty rates
      62 8 THE Malaysian Minister of Finance has fixed these rates for the period from June 2 until further notice: Rubber: 88% cents a lb. Copra: $990.00 a ton. Palm Kernel: $235.25 a ton. The rates of duties payable are: Rubber 9% cents a lb (Total 15'/« cents) (Surcharge 4H
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    • Article
      Produce exchange
      523 8 PEPPERS continued to ease under some selling pressure on the Singapore produce market yesterday. With the general withdrawal of buyers from London, New York and some of the bigger European ports, Sarawak traders turned keen sellers. Even In Singapore, buyers were too cautious. Until the close there was
      523 words
    • Article
      Palm Oil
      56 8 C.I.F. Rotterdam. US dollars per ton. LONDON: Wednesday Pre*. Malaysia b% ffa bulk Jul/Aug Sumatra 5H May June July Aug Sept Nov Nigerian 5H ffa bulk ROTTERDAM: Sumatra May/Jun/Jul Any origin May Zaire Belg francs per kilo MOslr unch 875slr «72 SOslr M&slr unch unch unq 67Salr 777
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    • Article
      Coffee
      271 8 LONDON, Thurs. At endmorning call futures had gained £40 (Sep £3,027) to £57 against last night. The official tone was 'easier'. 702 lots were traded. Commission house buying particularly from one quarter combined with local dealer buying Interest Initially made for gains of around £80 but by end call
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    • Article
      Average prices
      25 8 May April Tin: $1,498,125 tl.434.S89 t Rubber (S): 193.476c 197.928c t Rubber (M): 197 062c 199 421c per plcul, t cent* per kilo
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    • Article
      Straits tin market
      235 8 THE Straits tin price in Penang yesterday was down $7 to 11,441 on an official offering down 2 tonnes to 308 tonnes. In LONDON yesterday, tin finished the morning with gains of around £12 for cash and £11 for Three Months. High grade was £12 and £5
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    • Article
      Sugar
      203 8 LONDON, Thurs. Futures opened steady around closing kerb levels on trade buying, £0.75 lower to £0.25 higher than yesterday afternoon's close. Turnover totalled 478 lots. In actuals, dealers said there had been an operator to US. Gulf refiner transaction of one cargo of raw sugar last night at 205
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    • Article
      Cocoa
      248 8 LONDON, Thurs. Terminal opened the £40 limit up with near July trading at £2,790. Only five lots were traded before the market closed for the statutory 15 minute break. At the reopening followthrough buying, short covering and some stoploss orders saw the Jly position advance to £2,830, a gain
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    • Article
      Hongkong comes
      291 8 HONGKONG, Thurs. Cotton futures closed mixed in fairly quiet trading despite the overnight decline in New York, dealers said. October and December lost 0.98 and 0.65 US cents respectively, while other months gained 0.08 to 0.39. Total turnover fell to 22 lots, the lowest since the market opened
      291 words
    • Article
      Soybeans
      181 8 CHICAGO, Thurs. Soybean futures yesterday pushed upward after early hesitancy to reach new season highs In new crop months and show mldsesslon gains of 20 to nine cents a bushel. Prices fluctuated several cents to either side of Wednesday's close before speculative support Increased to move prices upward. Additional
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    • Article
      Wheat
      73 8 CHICAGO, Thurs. Wheat futures yesterday moved upward from a firm opening to pott gains of 21/4 to three cents a bushel around mid-session. Small'gains were achieved In light Initial dealings when local buying Interest encountered few offerings and additional support appeared when prices firmed in other pits. The advance
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    • Article
      Copper
      375 8 LONDON, Thurs. Copper wire bars finished the morning basically unchanged from previous closing ring levels. Values sagged In the premarket under liquidation which reflected the Asarco three cents per lb price cut and a lack of physical demand. dealers said. The trend was later reversed on trade buying reported
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    • Article
      Silver
      205 8 LONDON, Thurs. Silver lost 1.3 to 1.5 pence per troy ounce In the morning. Values In the pre-market declined in sympathy with lower gold and the base metals, dealers said with Three Months trading to 271.9 pence. But the market steadied in the ring as dealers reported modest covering
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    • Article
      Gold
      375 8 IN the Singapore gold market yesterday, the kilobar opened at SSI 1,460 and profit-taking set in to bring the price down to a low of $11,420 before recovering to close at <11,450. In the loco London market yesterday, it opened at U*****.60/90 and some selling pushed the price down
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    • Article
      Lead
      107 8 LONDON, Thurs. Lead declined by £4.50 for cash and £5.50 for Three Months in the morning. Yesterday afternoon's high levels attracted liquidation and profit-taking following the downturn in copper earlier today, dealers said. Three Months traded down to £348 in the premarket but some shortcovering interest took the position
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    • Article
      Zinc
      59 8 LONDON, Thurs. Zinc declined In the morning by mostly £2.50. The market lacked fresh Incentive and tended to fluctuate in line with other metals, dealers said. Three Months finished ring trading at £333 after sales of 2,075 tonnes. On Wednesday afternoon, zinc gained £7 all round. The market was
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    • MONEY AND EXCHANGES
      • Article
        Singapore
        551 8 THE local Interbank money market saw firm trading yesterday. Overnight funds opened at the 3*i per cent level and closed at around five per cent. The bulk of trading was done at around four per cent. Dealers said that overnight rates picked up during clearing and post clearing hours
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      • Article
        Minimum lending rates
        54 8 ACBC Algemeee Bank CH Banrkok Bank 7 Bank ot America (V. Firat Cklca|e »V« Citibank (V. HSBC 7 Indoeuaa «V. Bank of China 7 Bank af Tokyo CH Bank Necara Iniwrii 7 Malayan Baakiaf Mitsui BMk «H OCBC Chartered Bank «H Chaee Manhattan CH DBS CVfc UCB
        54 words
      • Article
        Asian $ rates
        156 8 Asian rates ASIAN currency deposit rate* as at close on June 2 interbank US Ml lan(SpM) Ottm Bid 7 days 1 mth 2 mthi 3mths 6 mth j 9mths 12 mth* 5 9/16 37/1 61/16 6 3/8 65/1 6 3/4 8w. Fn. $7/l« 5 7/6 53/4 5 15/16 61/4 61/2
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      • Article
        Discount
        50 8 RANOE of prlcet offered by discount houses on June 2 Overnight 3% Call deposit 3% CU B«y ■C Saittec 3-Month Treasury bills 3 3-Month Bank bills 4 1/1* 3-Month CD 4 Via •-Month CD 4 1/2 2 7/8 3 15/16 4 1/8 4 3/8 Source: National Discount Co. Ltd.
        50 words
      • Article
        Euro $ rates
        122 8 Euro rates LONDON. Thurs. Eurodollar deposit trading was Initially quiet, dealers said. Period rates opened generally higher due to the loss of the Friday dealing technicality. One Month was additionally affected because of the Friday end of period factor. Rates have shown little change since the opening In slow trading.
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      • Article
        New York
        171 8 NEW YORK. Thurs. The dollar closed weaker on balance than Wednesday after a fairly light trading session although it rose sharply against the Canadian dollar, dealers said. The Canadian dollar dropped to a closing low of 94.81/83 US cents from 95.12/14 overnight while forward discounts rose slightly with
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      • Article
        London
        182 8 LONDON, Thurs. Sterling eased in quiet trading to $1.7177/79 after being quoted at 1.7193/95 overnight, while forward discounts in the six months position opened at 382/372 basis points before firming modestly to 378/368, dealers said. The mark firmed slightly to 2.3540/50 to the dollar from 2.3575/85 overnight while the
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      • Article
        Tokyo
        110 8 TOKYO, Thurs. Expectations there will be a dollar surplus during the month led Japanese banks to adJust their positions ahead of the event by selling dollars in active trading, foreign exchange dealers said. The result of the sales was a weakening in the dollar for overnight delivery with rate
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      • Article
        Hongkong
        94 8 HONGKONG, Thurs. The US dollar fell to a late HK54.679 0/10 from yesterday's 4.6850/70 after opening at 4.6850/ 60 in fairly active trading dealers said. The US unit eased slightly against the mark from 2.3562/67 at the opening to 2.3552/59. HONOKONO banknotes quoted on June 2 US 4 66/4
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      • Article
        Frankfurt
        39 8 FRANKFURT exchanges opening quotes on June 2. US 2.3544/54 Can 2.2310/30 UK 4.04/06 Neth 95 55/65 Swltt 94.15/25 Italy 2 658/668 France 47 67/73 Norw 44.92/45 00 Belg com 6 535/545 Belg fin 6 53/56 Japan 0 8520/30
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      • Article
        Australia/NZ
        57 8 AUSTRALIA/NZ exchanges on June 2 Australia Sterling 0 6455/0 6385 US dollar 1.1063/1 1015 Ninety-day air mall buying rates Sterling 0 6645 US dollars 1.1316. Ninety-day forward buying Sterling 0 6474 US dollars 1 0946 New Zealand S»«rlln* n SSTT-n S.W US dollar 0 9668/0 9658 Ninety-da> forward rate:
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      • Article
        Zurich
        57 8 ZURICH exchanges, closing quotes on June 2 US 2 5002-5012 UK 4 2995-2999 Can 2.3756-3762 W Germ 106 02 -08 Neth 101.41-45 France 50 63-67 Belg 6 93't-94 Denm 4157-61 Norw 47 71-75 Swed 57 01-05 Italy 0 2824-2826 Austria 14 87-90 Port tr. Spain 3 62-62't Ar* 0
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      • Article
        Eurobond prices
        324 8 LONDON, Thurs. Straight dollar Eurobonds were steady and basically unchanged in quiet trading, dealers said. Convertible dollar Eurobonds were steady and basically unchanged in quiet trading, dealers said. LONDON Eurobond prices quoted on June 2 Straif bu BU Offer Austria 84 90 1014 102 Bell Canada 8*. 88
        324 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      185 8 r MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE ASM RESEARCH BULLETIN This unique publication offers businessmen eoch month a comprehensive guide to the latest developments that have taken place in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin is
      185 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      THE NEXT GENERATION OF JET AIRLINERS
      2220 9  -  By MICHAEL DONNE THROUGHOUT THE world's aerospace Industries, much attention is now being paid to the problem of what new airliner programmes to undertake to meet the anticipated expansion in air traffic of the 1980s and beyond. For several years and particularly since the
      2,220 words
    • Article
      Lock icon London freight market
      188 9 AP LONDON, Thurs. Business expanded slightly but still lacked sufficient drive to engender optimism amongst shipowners on yesterday's shipping freight market. One interesting feature of the day's business was the booking of four Yugoslav vessels, each 18,500-19,500 tonnes, for grain shipments from the Hudson Bay port of
      AP  -  188 words
    • Article
      Lock icon HIGH-SPEED DEBUT
      110 9 Reuter MOSCOW. Thurs. A new high-speed express train capable of over 220 kph will soon make its debut on the run between Moscow and Leningrad. Pravda reported today. An experimental version of the Electric Express has already been driven at close to maximum speed on a stretch near
      Reuter  -  110 words
    • Article
      PSA gate renumbering
      83 9 THE Port of Singapore Authority (PSA) will renumber its gate system with effect from June 15 in order to ensure a consecutive flow of gate numbers from its head office to the entry points at Telok Ayer Basin. This renumbering will standardise the gates with the numbering
      83 words
    • Article, Illustration
      IN PORT
      452 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Altair (6LBN) (0500 after Xtang Shan) 3/4 Barge Caltex 167 0700 alongside Phemius) 31/32 Barge Caltex 168 (afterCaltex 167 alongside Phemius) 31/32 Barge Union 33 (0700 alongside Phemius) 31/32 Cherry Vilja (1500 tbc) 48 Hugheverett (1800) 35/36 Kalemyo (2000 after New Dragon) 44
      452 words
    • Article
      Lock icon Fierce fight for sales at Paris air show
      324 9 Reuter PARIS, Thurs. The United States, Western Europe and the Soviet Union will be competing fiercely for civilian and military aircraft sales totalling hundreds of millions of dollars at the Paris International Air Show opening today. For the first time, Israel, Brazil
      Reuter  -  324 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      592 9 ARRIVALS Service Local Operator Number Time From KAL MAS SIA GIA GIA PAL SIA RBA SIA KLM MAS THAI KE807 MH682 SQ211 GA980 GA908 PR501 SQ240 BI325 SQ201 KL833 MH684 TG413 0015 SEL 0810 KCH 1015 HLP 1030 HLP 1100 MES 1115 MNL 1140 MES 1155 BWN
      592 words
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      Page 9 Advertisements Column 1
      60 9 T^JSINC £>U SINGAPORE MC(P) 162/1/77 VOL.I N0.5 MAY 1977 PRICE:S3.OO JCB 3r k a COVER Credit cards MANUFACTURING Toys TRADE Timber COMMUNICATIONS Airfreight TOURISM Trends and limitations LIFE AT THE TOP Chandra Das INVESTMENT Bearings TRENDS When diamonds spell disaster Trends in Singapore's economic indicators Commodity markets SUPPLEMENT France STOCK
      60 words
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  • Article, Illustration
    THE IMPLICATIONS OF KL INTEREST RATE REDUCTION
    1505 10  -  By NOORJAHAN KARIM THE REDUCTION In interest rates by one per cent ends months of speculation within the financial sector of the possibility of rates being lowered. Bankers have long argued about whether a lowering of lending rates would stimulate business activity and
    1,505 words
  • Article, Illustration
    Lock icon Beirut debt solution: New loans for old?
    663 10 AP BEIRUT: In the fiscal chaos of postwar Lebanon, one of the major concerns has been whether banks can recover the loans they made before civil war oroke out in 1975, destroying industry and ruining many businesses The government is suggesting banks issue
    AP  -  663 words
  • Article, Illustration
    Lock icon Venezuela — fortune in vast 'black gold' reserves waiting to be tapped
    1370 10  - Venezuela fortune in vast 'black gold' reserves waiting to be tapped By Robert Hart Reuter ALREADY the world's fourth largest oil producer, Venezuela Is sitting on almost immeasurably vast reserves of "black gold" but It could be another decade before they are fully exploited. Last year, the country's newly nationalised
    Reuter  -  1,370 words
  • Article
    Lock icon ALGERIA AND AMERICA – THE SHY BEDFELLOWS
    868 10 ALGERIA AND AMERICA THE SHY BEDFELLOWS FT ALGIERS: Economic Interdependence between Algeria and the United States is developing to the point where it Is beginning to override the natural embarrassment «of capitalists and socialists who find themselves, as It were, in the same bed. President carter's energy message, while plunging
    FT  -  868 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      502 10 THE DEBT t|j| TRAP Business Management in Penguins The Debt Trap: Cheryl Payer The International Monetary Fund is the most power- I ful supra-national government in the world today. I This book is about the efforts of poor nations to I gain some control over their own economies and the
      502 words
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  • Article
    Lock icon Convertibles favoured in pending Japan external bond issues
    803 11 Reuter TOKYO, Thurs. Japanese external bonds In the July-September quarter, excluding government guaranteed issues, are scheduled to Increase to 17 from 13 In April-June, while their total value Is expected to hold steady at about US$4OO million (Ss9B4 million) equivalent, informed securities
    Reuter  -  803 words
  • Article
    Lock icon 2.65 TRILLION FUNK LIRE COMES BACK TO ITALY
    212 11 Reuter ROME, Thurs. Italy has gained around 2.65 trillion lire (557.4 billion) in unwinding of illicit capital operations abroad by Italian residents under last year's amnesty, according to provisional estimates by the Bank of Italy. However, the Bank of Italy said an
    Reuter  -  212 words
  • Article
    Lock icon Italian exports are outstripping imports
    84 11 Reuter ROME, Thurs. Italian exports are rising faster than imports and this tendency may continue in the latter part of this year, Foreign Trade Minister Rinaldo Ossola told Parliament. In the first quarter of this year exports rose eight per cent in volume while im-
    Reuter  -  84 words
  • Article
    Lock icon Women's pension bill approved
    109 11 AP PARIS, Thurs. The French National Assembly last night unanimously approved a bill giving women the right to retire at age 60 with full pension If they have contributed to retirement funds for 37Vi years. Mrs. Slmone Veil, Minister for Health and Social Security, persuaded the
    AP  -  109 words
  • Article
    Dutch banks forced into capital markets
    391 11 AMSTERDAM. Thurs. Dutch banks may soon begin more aggressive borrowing on the capital market here In response to the Central Bank's restrictions on domestic credit expansion, capital market sources said. The Central Bank has set a limit of 12 1/2 per cent to domestic
    391 words
  • Article
    Lock icon AMC will stay in US car market with 200,000 units
    391 11 Reuter NEW YORK, Thurs. American Motors Corp chairman Mr. Roy Chapin said he expects AMC will sell slightly under 200,000 cars in the fiscal year ending September 30, or about 2 per cent of the US market. At a news
    Reuter  -  391 words
  • Article
    Lock icon Brezhnev calls for closer ties
    140 11 UPI TOKYO. Thurs. Soviet Communist Party chief Leonid Brezhnev yesterday said in a letter to Prime Minister Takeo Fukuda that Japan and Russia must develop their relationship in a spirit of mutual understanding, a government announcement said. The letter, delivered to Mr. Fukyda by Soviet
    UPI  -  140 words
  • Article
    Lock icon Chicago breaks its own record on gold delivery
    181 11 Reuter CHICAGO. Thurs. The Chicago Mercantile Exchange said about US$25 million (SMI.S million) worth of gold bullion was delivered on May 31 on the June contract, the biggest delivery on any commodity fiiturea contract in the exchange's history. The exchange said a
    Reuter  -  181 words
  • Article
    Lock icon Kodama pleads not guilty to tax charges
    236 11 UPI TOKYO, Thurs. Mr. Yoshlo Kodama, the rightwing lobbyist who was Lockheed aircraft's secret sales agent in Japan for 14 years, today pleaded not guilty to charges of evading taxes on Income of US$6 million (5514.8 million). Mr. Kodama, 66, went on trial
    UPI  -  236 words
  • Article
    Lock icon Brazil concerned at low coffee stock
    256 11 UPI GUARUJA, (Braall), Thurs. Brazil is deeply" concerned that the coffee stocks are low and the world supply is dependent on chance factors, Commerce and Industry Minister Angelo Calmon De Sa said yesterday. Mr. Calmon De Sa told the opening meeting of a four-day
    UPI  -  256 words
  • Article
    Lock icon US Government asked its view on Concorde
    485 11 Reuter NEW YORK. Thurs. A Federal Appeals Court Is seeking a clear statement from the Carter administration on whether the Anglo-French supersonic Concorde airliner should land here. A three-Judge panel yesterday extended for at least one week a ban on flights by the
    Reuter  -  485 words
  • Article
    Lock icon Firm deals with Hanoi despite US embargo
    200 11 AP BOSTON, Thurs. Despite a US-Imposed embargo on trade with Vietnam, officials of a Boston-based textile.and Import firm are dickering in Hanoi to do business there, the company's president said yesterday. "The trade embargo will be lifted," predicted Arthur Wellman Jr., president of
    AP  -  200 words
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    Lock icon $199m for Peace Corps
    85 11 AP WASHINGTON, Thurs. The US House of Representatives passed an administration approved measure yesterday authorising US$Bl million ($199 million) for the Peace Corps. The figure, for the year beginning Out, Is the same as the allotment for the preceding year. But the bill also authorises Increases
    AP  -  85 words
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    Lock icon Bulging coffer a problem in Seoul
    361 11 UPI SEOUL, Thurs. South Korea's bulging foreign exchange holdings are causing controversy among government officials as to how to utilise them, a Seoul dally newspaper's front page story said today. Government agencies are studying policy changes in the fields of trade and foreign exchange
    UPI  -  361 words
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    Lock icon China signs $1.7b wheat contract with Canada
    388 11 Reuter PEKING, Thurs. China concluded one oi Its biggest ever wheat deals this week, bringing the total amount of foreign grain contracted for delivery In 1977 to about seven million tonnes the highest since 1974. The cost of the deliveries is estimated at
    Reuter  -  388 words
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    Lock icon Tokyo groups call for rice price hikes
    175 11 UPI TOKYO, Thurs. Two powerful agricultural organisations will ask the government to raise its purchase prices of domestic rice this year and one of them wants a 60 per cent rise. A spokesman for Zenchu (the Central Union of Agricultural Cooperatives) said Zenchu
    UPI  -  175 words
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    Lock icon US still prefers to pay ITC dues with tin
    142 11 Reuter WASHINGTON, Thur». Walter Lennahan, an economist in the State Department's strategic materials division, reiterated that the Carter administration prefers to fulfill the US contribution to the International Tin Council's buffer stock with tin metal. Mr. Lennahan said the administration will
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      408 11 APPOINTMENTS DEALERS REQUIRED FOR MOTORS T7 »Tr =T; a-T-1 i>;:fr International Company is looking for reputable dealers in Singapore for: 1. Electric motors up to 500 HP. 3 phase, induction, cage or wound rotor (slipring) type, conforming to BS 2613 and BS 3979. 2. Generators up to 310KVA. Single phase
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      119 11 NOTICE NATIONAL IRON AND STEEL MILLS LIMITED (Incorporated in the Republic of Singapore) PAYMENT OF HALFYEARLY INTEREST CONVERTIBLE UNSECURED LOAN STOCK NOTICE IS HEREBY GIVEN that interest for the period from Ist January 1977 to 30th June 1977 of the above Loan Stock will be paid to Members on Ist
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  • Article
    Now is the time to take a close look at Saudi Arabia
    552 12 IT is now time for Singapore and other Asian nations to take a close and serious look at Investment opportunities In Saudi Arabia. This is the advice of Dr. Abdulrahman Al-Zamll, dean of educational services at the University
    552 words
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    W. Asia a 'Mecca' but with trading problems
    254 12 THE Arab world matlive area of 13 million square kilometres with a population of more than 150 million people has become a giant workshop and a "Mecca" fop-busines-smen from all over the world. But the lure and attraction of investing in West
    254 words
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    S'pore a workshop for Arab world
    442 12 SINGAPORE and this region can act as a supply and servicing centre to construction and development projects in West Asia. This was stated yesterday by Mr. James Ferrle, senior partner with James Ferrle and Partners, a local firm of architects. He said: "Basically Singapore
    442 words
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    LONDON STOCKS
    765 12 LONDON. Thurs. The stock market closed generally firm in quiet trading ahead of the long holiday weekend as an opening technical rally was extended in small buying interest, dealers said Long-dated government stocks were up to H point higher while shorts gained '4. Leading Industrials were mostly around
    765 words
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    NPB seminar for Inchcape directors
    113 12 INCHCAPE Berhad has commissioned the National Productivity Board to conduct a five-day seminar for directors of Inchcape group companies from June 6 at the Shangri-La Hotel. This seminar is the first of its kind to be organised by NPB specifically for the directors of a
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    Lock icon IMF SELLS GOLD AT $353 AN OUNCE
    87 12 Reuter WASHINGTON, Thurs. The International Monetary Fund yesterday auctioned 524,800 ounces of cold at a common price of U*****.32 (*****.56) per ounce. Successful bidders were in a range from the common price of 1143.32 up to $150 per ounce. Under the common price,
    Reuter  -  87 words
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    ASEAN IN SCHOOLS
    72 12 SCHOOLS may soon be organising Asean societies for students. This idea was mooted at the week-long pre-university seminar on Asean which ended yesterday. Another suggestion which came out of the seminar organised by the Catholic Junior College and the Education Ministry was to hold Asean seminars at
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    Touting lawyers to be dealt with firmly
    333 12 THE Law Society will take firm action against any member who Is found to be touting, a leading lawyer said yesterday. In addition, victims of Improper actions taken by lawyers should report to the Corrupt Practices Investigation Bureau. He and four other lawyers
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    $200,000 claim
    93 12 Hearing on a $200,000 claim by a labourer, who was paralysed in an accident, began Ifkthe High Court yesterday. Wee Peng Whatt, an employee of Singapore Transport Supply Services Pte Ltd, is claiming that sum from his employer and two others for personal in- juries and consequential loss
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    Far Eastern Bank sues
    74 12 FAR Eastern Bank Ltd.. filed two suits in the High Court yesterday against nine persons for a total sum of $78,393.08. The first suit is against Wang Swee Yong and Hong Bee Lee, trading as Kota Bahru Trengganu Transport Co. for $55,875.38 allegedly being money due
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    Lock icon Slowdown in Chinese industrial growth
    321 12 Reuter HONOKONO, Thurs The value of China's Industrial output probably rose by no more than five per cent last year, compared with the estimated 10 per cent increase in 1975, the US Information Bervlce (USIS) publication "Current Scene" said. Although the economy began to pick
    Reuter  -  321 words
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    Metal Box union to dissolve
    164 12 THE Central Committee of the Singapore Metal Box Workers Union has decided It wants to dissolve the union, according to acting chairman Mr. Wong Weng Fook yesterday. The union has been responsible for the strike at Metal Box Singapore, which began on April 4. In
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    Lock icon Japanese firms to increase investments in the US
    456 12 Reuter NEW YORK, Thurs. Investment by Japanese companies in the US will Increase substantially over the next few years, Mr. Ryohel Suzuki, chief executive director of the Japan Trade Centre said In an Interview. He said the centre, a semi-governmental agency, has
    Reuter  -  456 words
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    Lock icon Further easing of Tokyo exchange controls soon
    293 12 UPI TOKYO, Thurs. The Finance Ministry said today further easing of controls on foreign exchange dealings, including liberalisation of investment in shortterm foreign securities, will be Implemented from the middle of this month. This Is the third in a series of measures the
    UPI  -  293 words
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    Union to meet on longer banking
    103 12 KUALA LUMPUR. Thurs. The National Union of Bank Employees will meet the Malayan Commercial Banks Association here early next week to discuss the proposed extension of banking hours. NUBE general secretary Mr. A.R. Fernandez said today that discussions will centre on how the extension
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    Lock icon Rome move intensifies undeclared trade war
    353 12 AP ROME, Thurs. The Italian Foreign Trade Ministry has practically blocked the Import of Japanese motorcycles and electronic components for tape recorders and record players, ministry officials disclosed here yesterday. The move was in retaliation for Japanese Import restrictions on Italianmade ski boots and
    AP  -  353 words
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    Lock icon Export letters of credit by Japan rise
    235 12 Reuter TOKYO, Thurs. Japan's export letters of credit received in may rose 12.2 per cent to U554.64 billion (SSI 1.4 billion) from $4.14 billion in May last year, the Finance Ministry announced. The year-cn-year growth was little changed on the 12.3 per cent
    Reuter  -  235 words
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      262 12 .mericaya -K V vjs, A?I iHF Remarkable handcrafted shoes A legacy from Signer Marelli Very many years ago, in Italy, there existed an exceptionally skillful bespoke bootmaker one Signor Marelli. Signor MarelK's skill in fashioning and working leather earned him a widespread reputation and guaranteed him a steady clientele. The
      262 words