The Business Times, 18 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 SATURDAY, JUNE 18, 1977 SO CENTS
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  • NEWS IN BRIEF
    • Article
      Lee returns
      45 1 PRIME Minister Lee Kuan Yew and his wife returned home last night after attending the Commonwealth summit conference in London. Returning with Mr. and Mrs. Lee were Mr. S. Rajaratnam, the Foreign Minister, and Mr. Jek Yeun Thong, Minister for Culture and Science.
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    • Article
      Gay World fire
      34 1 A FIRE swept through Oay World Amusement Park in Oeylang last night. The one-hour blaze destroyed at least 15 stalls, most of which were either vacant or used to store furniture.
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    • Article
      Lock icon Smaller income rise
      76 1 AP WASHINGTON, Frl. The personal income of Americans rose six-tenths of a per cent In May, a smaller Increase than the month before, the Commerce Department said today. Income received last month for working, savlhgs, Investments and other sources totalled U551,507 billion (553,707 billion) when projected over
      AP  -  76 words
    • Article
      Lock icon Loan for Algeria
      68 1 AFP TOKYO, Frl. A Japanese consortium of 23 banks, led by the Export-Import Bank will extend a 99,700 million yen (SsBB6 million) loan to Algeria for its natural gas development project. An agreement to this effect was signed here today between president Satoshi Sumlta of the Exlm
      AFP  -  68 words
    • Article
      Lock icon Von Braun dies
      65 1 Reuter WASHINGTON, Fri. Dr. Wernher Von Braun, the German-born rocket expert who masterminded America's space missions, died last night in hospital near here after a long battle with cancer. He was 65. The National Aeronautics and Space Administration (Nasa) said Dr. Von Braun died in the Alexandria,
      Reuter  -  65 words
    • Article
      Lock icon Oil find in Thai gulf
      66 1 AFP BANGKOK, Fri. The Ministry of Industry today announced that Texas Pacific (Thailand) Company has reported the striking of natural and liquid gas and petroleum in the Gulf of Thailand. A spokesman for the company was quoted in the local press as saying the find,
      AFP  -  66 words
    • Article
      Customs seize engines
      38 1 KUALA LUMPUR, Fri. Custom officers here have seized 54 units of diesel engines and equipment worth M 570,000, believed to have been smuggled from Singapore, from two workshops In kampong UJung Paslr, near Seremban, yesterday.
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    • Article
      Lock icon Dow Jones
      101 1 UPI NEW YORK. Fri. With Citibank of New York declining to follow the lead of another major bank and adjust its prime rate, prices sought direction during the first hour today In active trading of New York Stock Exchange Issues. The Dow Jones Industrial average, which rallied to
      UPI  -  101 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      159 1 SHARES closed marginally lower in quiet and featureless trading on the Stock Exchange of Singapore yesterday. At the close, the Business Times index eased 2.05 points to 313.% and the Straits Times Industrial index dipped 0.47 point to 252.69. Rises Most active Taipinf Con* 215 Pacific Dev
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    • Article
      In Kuala Lumpur
      110 1 Rises Most active Pacific Dev. 2.11 .16 G. Lumber 485.000 Is Pen 1.85 .12 P. Carbide 484,000 C Sugars 3.10 06 M Credit 472,000 C Storage 3.16 08 Haw Par 364,000 Bandar Raya 0 93 08 Total Turnover: 3.57 M City Dev. 1.08 .08 Total Value MS5.21
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  • Article, Illustration
    Lock icon Saudi oil price hike in July
    325 1 UPI NEW YORK, Fri. Saudi Arabian Oil Minister Ahmed Zakl Yamani (above) said in an interview published today his country will probably increase its oil prices by a maximum of 5 per cent on July 1. Sheik Yamani said the increase would be made
    UPI  -  325 words
  • Article, Illustration
    Multi-million $ tractor parts plant to be set up here
    616 1  - Multi-million tractor parts plant to be set up here »r ONG LECK KEONG A MULTI-MILLION-dollar plant is to be set up here to manufacture tractor undercarriage parts for the vast market in the region, estimated at around $200 million a year and growing. The plant is to be set up
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  • Article
    Slower expansion of money supply
    463 1 GROWTH of money supply Ml currency In circulation plus current accounts has slowed down this year. But Xhls slowdown does not signal a gradual switch towards "tight money" policy by the Monetary Authority of Singapore. Bankers and economists expect MAS to continue with its "easy
    463 words
  • Article
    Eidai machinery, plant sale
    227 1 SINGAPORE Eidai Corporation, the ailing plywood manufacturer, Is expected to sell Its plant and machinery within the next month. A spokesman for the company, which ceased operations 15 months ago, said that negotiations are now going on and agreement Is expected to be reached In July.
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  • Article
    ASEAN MEETING
    56 1 JOGJAKARTA. Fri Indonesian Trade Minister Radius Prawiro opened a meeting of the special coordinating commute of Asean here yesterday devoted to the "restructuring and redirecting of the committee's activities in the light of last year's Asean summit." Mr. Prawiro expressed his satisfaction over the recent increase of Asean
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  • Article
    Another $12m loan for Clifford Centre
    186 1 SINGAPORE Land has arranged for another loan of $12 million from Chase Manhattan Bank for the final phase of Its Clifford Centre project. The loan is being taken out under wholly-owned subsidiary SL Properties whose credit facilities from Chase will now total $27 million.
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  • Article
    NSE—a new electronic firm
    168 1 FOUR businessmen and a woman have formed a new electronics factory, New Sound Electronics (NSE) in Singapore. They are: Messrs. Yoshlo Koike, Chang Shi Ling, Tadatoshi Kato and Teo Eng Tian, and Madam Teo Lee Koon. NSE. incorporated in January this year, started operations two months
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  • Article
    Import licences lifted on some goods
    163 1 THE Import and Export Office (IEO) has removed import licensing for certain good* from Japan. In an announcement yesterday, the lEO also said it was dispensing with permits for through cargo sent by rail between Singapore and Peninsular Malaysia and exempting textbooks and certain
    163 words
  • Article
    Lock icon Tax hike in Janata budget
    109 1 Reuter NEW DELHI. Fri. The government today announced a general increase in taxes and a cut in defence spending in iU first national budget. Finance Minister H.M. Patel said in his budget speech to Parliament that there would be increased spending on apiculture and a
    Reuter  -  109 words
  • Article
    Sime plans to buy offshoot of Allied Rubber
    461 1 ALLIED Rubber Mills Ltd stands to make a capital gain of nearly 80 per cent on the proposed sale of Its wholly-owned subsidiary Spring Investments to Sime Darby Holdings. This is because the book value of the shares in Spring Investments come
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  • Article
    An air of hope . . .
    124 1 An air of hope LONDON, Frl. British officials were optimistic today that a new air agreement to avert an imminent breakdown- of services between Britain and America would be In sight early next week. The negotiators met again today and a British source described new proposals made by the Americans,
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      43 1 8 years old at least! T Market Reviews/ TV ft Radio Overseas Newt Local Co Newt International Co New* Local Stocks Overaeaa Stocks P 7, Commodities P 8' Transport ft Communications P f Feature* P 10 Local ft Overseas News P 11. 12
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    • Advertisement
      Page 1 Advertisements Column 2
      62 1 We are the Rolex people in Singapore Come and see us! If you are thinking of investing in a Rolex, see our fabulous range of fine watches Eastern Watch Co. OFFICIALLY APPOINTED DEALER 285 South Bridge Road. Teh *****/***** Ground floor, Peninsula Shopping Centre, Coleman Street. Teh *****9 Ground floor,
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    • Advertisement
      Page 1 Advertisements Column 3
      123 1 ?"&}$/});,_"\'.`;\}<{-()={('|>\ SONY VIDEO SYSTEM Trust Sony for your video CS Wlth customar y vision 1 and foresight Sony pioneered video equipment. Today, Sony is one of the world's foremost manufacturers of integrated video equipment. Research and experiments are continuously carried out to bring you the most advanced and sophisticated video
      123 words
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  • MARKET REVIEWS
    • Article
      SINGAPORE
      674 2 FOR the greater part of Its week, trading had been rather irregular and erratic at the Stock Exchange of Singapore. On balance, prices finished generally In minus territory. The uncertainty associated with the two designated securities Central Sugars and Perak Carbide and the absence of any clear trend in
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    • Article
      KUALA LUMPUR
      630 2 MOST of the speculative lower-priced shares were depressed by some persistent selling pressure on the Kuala Lumpur Stock Exchange this week. Selling on a combination of stop-loss, profit-taking and weak liquidation account predominated despite occasional attempts at rally during the week. Market sources attributed the weaker sentiment to
      630 words
    • Article
      Mart unperturbed by ominous signs of an autumn election
      1019 2  -  LONDON By IVAN FALLON THE LONDON Stock Market got a touch of what has become colloquially known as "the election Jitters" this week. Prime Minister Jim Callaghan's shaky Labour Government was defeated no less than seven times on Its crucial Finance
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    • Article
      A re-rating for Guthrie?
      212 2 GUTHRIE's profit figures last week have brought mixed feelings in the London market. The usual shower of broker's circulars which the end-year results always prompt have this week poured across my desk, with recommendations ranging from "buy at 206p or below" (Laurence Prust) to a cautious
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    • Article
      Lock icon SYDNEY
      384 2 Reuter TAKEOVER developments and special situations dominated traders' attention In an otherwise weak Sydney stock market for most industrial and mining stocks during the week, dealers said. The revival in metals E rices on Thursday In ondon had little impact or came to late to reverse the downward trend
      Reuter  -  384 words
    • Article
      Lock icon World Bank loans
      27 2 Reuter WASHINGTON, Frl. The World Bank said It is lending Syria and Egypt a total of U*****.5 million (Ss3ol million) for development projects. Reuter
      Reuter  -  27 words
    • Article
      Lock icon German wage growth
      118 2 Reuter FRANKFURT, Fri. Growth in German wages In the first few months this year probably exceeded productivity gains by around 3 per cent, while in 1976 wages and productivity rises were about the same, the Bundesbank said. It said increased company costs are one of the reasons
      Reuter  -  118 words
    • Article
      Company news for the week ended June 17
      729 2  -  Wy vwlHpilwy 7 RONALD LAM OTHER ANNOUNCEMENTS Harper Gilfillan has proposed a restructuring of the group. Involving the formation of two intermediate Malaysian holding companies. Harper Gilfillan Holdings (Malaysia) and Harper Gilfillan (Borneo). While Singapore subsidiaries, associates and properties would be regrouped
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  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      268 2 t\*s i A PUBLICATIONS Within a short period of six years, The Open University, a unique experiment in higher education, has become an established part of the educational scene. It is now recognised all over the world as one of the most important educational and social developments of this century.
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      53 2 THE WEATHER i WEATHER report for 24 hours prior to 7.30 p.m. on June 17 at Singapore airport. Maximum Temperature 30.9° C Associated Humidity 71 Minimum Temperature 24.2° C Associated Humidity ...J 100 Hours of Sunshine 6.20 Rainfall in Millimetres trace Total Rainfall for.the Month 184.0 Total Rainy Days for
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      298 2 I 10 SINGAPORE 5 12.55 PM Opening announcements followed by Sesame Street* 1.55 Saturday Matinee Roman Grey Starring: Ron Liebman, Jose Ferrer, David Hedison, Jill Clayburgh* 3.10 The World About Us The Way of a River 4.00 Soccer Sultan's Gold Cup: Singapore vs Malacca (Preliminary Round Malay)* 5.00 Sandiwara A
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  • OVERSEAS
    • Article
      Lock icon Annual EEC GDP growth under 3pc
      346 3 Reuter BRUSSELS, Fri. Real Gross Domestic Product growth In the nine CommonMarket states has continued at an annual rate of Just under 3 per cent since the beginning of this year, the EEC Commission said. In its monthly survey of the economic situation In
      Reuter  -  346 words
    • Article
      Lock icon Fraser visit to strike up a balance
      272 3 UPI BRUSSELS, Fri. Australian Prime Minister Malcolm Fraser arrived here yesterday In search of a better balance in his country's trade relations with the European Common Market. Mr. Fraser, who attended the Commonwealth conference in London, was welcomed at the airport by Foreign
      UPI  -  272 words
    • Article
      Lock icon Saudis unveil $78bil budget
      212 3 AFP RIYADH. Fri. Saudi Arabia today issued its budget for the fiscal year 1977-1978 with a total expenditure of 111.400 million Saudi riyals (Ss7B billion). Of the total expenditure, 67 per cent goes to projects and programmes in the field of development and construction, while 33
      AFP  -  212 words
    • Article
      Lock icon Half per cent rise in sterling M-3
      250 3 Reuter LONDON. Fri. UK domestic money supply on sterling M 3 basis rose by slightly over Vi per cent in the four weeks ended May 18. to give a rise of three per cent in the latest three months, the Bank of England
      Reuter  -  250 words
    • Article
      Lock icon Fed reports increase too
      106 3 Reuter NEW YORK, Frl. US narrowly-defined money supply M-l rose US$l billion (552.4 billion) to a seasonally adjusted $322.5 billion in the week ended June 8, the Federal Reserve Bank of New York said. The broader M-2 supply rose $2.3 billion to $769.3 billion. The latest
      Reuter  -  106 words
    • Article
      Lock icon Japan won't set target
      98 3 Reuter TOKYO, Frl. Bank of Japan Governor Tellchlro Morinaga said the Bank of Japan has no intention it this stage of setting a target for Jaoan'3 money supply. He told a press conference that there is no consensus on the significance of money supply among Japanese
      Reuter  -  98 words
    • Article
      Lock icon C-Mart will channel bulk of aid to Asia
      232 3 AFP LUXEMBOURG, Frl. The nine development ministers of the European Economic Community (EEC), meeting here today, decided how to use the 45 million units of account (one unit equals about US$l.2O) earmarked to aid countries not associated with the Common Market. Mrs.
      AFP  -  232 words
    • Article
      Lock icon U.S. WONT BUY TIN FOR BUFFER STOCK
      136 3 Reuter WASHINGTON, Fri. Assistant Treasury Secretary for International Affairs, Mr. C. Fred Bergs ten, said the US will not buy tin on the open market for Its contribution to the International Tin Council's buffer stock. He told a Press Club breakfast there were
      Reuter  -  136 words
    • Article
      Lock icon A lower deficit seen
      86 3 Reuter PARIS. Fri. The Paris Chamber of Commerce expects France's trade deficit will be less than six to seven billion francs (Ss3 to $3.5 billion) this year, Vicechairman Emlle Arrlghl de Casanova said. This compares with a government forecast of a 10 billion francs trade deficit
      Reuter  -  86 words
    • Article
      Lock icon ECONOMISTS ARE BULLISH ON U.S. UPTURN CONTINUING
      1107 3 NYT UPI NEW YORK, Frl. From opposite sides of the country have come two of the most respected quarterly forecasts on the American economy for this year and for 1978 with striking similarities. They were remarkably close In their numbers for various categories
      NYT; UPI  -  1,107 words
    • Article
      Lock icon Uranium cartel probe will sour up ties
      400 3 Reuter WASHINGTON, Fri. Congressmen probing a world uranium cartel summoned more former Gulf Oil officials to testify today, despite a warning from Canada that US-Canadian relations could be damaged by the investigation. A House of Representatives commerce subcommittee yesterday opened public hearings after
      Reuter  -  400 words
    • Article
      Lock icon Severe strains on M'bique
      237 3 UPI UNITED NATIONS, Fri. Secretary General Kurt Waldheim reported yesterday that Mozambique Is suffering severe economic setbacks because it Joined the economic embargo against neighbouring White-mlnorlty-ruled Rhodesia. Further adding to Its difficulties, he said. Is the presence of some 32,000 black Rhodesian refugees In its border
      UPI  -  237 words
    • Article
      Lock icon TAX BREAK FOR PURCHASE OF POLLUTION EQUIPMENT?
      601 3 Washington Star WASHINGTON, Frl. The Carter Administration is considering a big new tax break to help business pay for anti-pollution equipment and other equipment required by federal law. When the Government compels a company to spend money for such nonproductive purposes, perhaps the
      Washington Star  -  601 words
    • Article
      Lock icon C. Suisse asked to repay
      194 3 Reuter ZURICH. Frl. Credit Suisse will have to pay back negative Interest rate payments and withholding tax dues arising out of its Chiasso problems, a National Bank spokesman said. The spokesman said the Swiss authorities are currently calculating the sum owed to the state. Credit
      Reuter  -  194 words
    • Article
      Lock icon Soviets secure $1.2 bil loan
      173 3 AFP FRANKFURT, Frl. The Soviet Union yesterday secured a US$5OO million (551.26 billion) loan from a consortium of Western banks. The loan, arranged on behalf of the Moscow-based Bank for International Investments, was initially expected to total $300 million but the amount was raised to
      AFP  -  173 words
    • Article
      Lock icon German GNP growth unlikely to hit 5 pc
      262 3 Reuter FRANKFURT, Fri. The Bundesbank said It sees no need to use monetary means In an attempt to give extra stimulus to the German economy. In Its monthly report, It says the previously expected German GNP growth of 5 per cent probably
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    • Article
      Lock icon 'Better pace for 28 next year'
      283 3 UPI NEW YORK. Fri. Economic growth In 28 major industrial nations should improve slightly In 1978 over this year's modest pace, according to the World Business Outlook prepared by McGraw-Hill Publications. "Growth in overall volume of output of the world's major industrial nations in
      UPI  -  283 words
    • Article
      Lock icon Date for UN review of N-S talks
      221 3 Reuter UNITED NATIONS, Frl. Representatives of the developing countries have agreed tentatively on a Sept. 13 resumption of the UN General Assembly to review the results of the North-South conference in Paris, informed sources said. The sources said the Assembly president, Shirley Amerasinghe
      Reuter  -  221 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      3 3 SEE PAGE 10
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    • Advertisement
      Page 3 Advertisements Column 2
      261 3 THE WHOLE WORLD OF BOATING comes to SINGAPORE FROM AROUND THE GLOBE COMES ALL THE LATEST IN BOATS AND EQUIPMENT TO THE FIRST EVERI BOAT SHOW Whatever your interest in boating luxury cruisers, work boats, fishing boats, sailing boats, you will find the latest at the National Stadium this week.
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  • COMPANY NEWS
    • Article
      Federal Cables plans to dispose assets
      757 4 DESPITE radical efforts to resolve the difficulties It encountered In 1975. Federal Cables, Wires and Metal Manufacturing was left entangled with a group pretax loss of Ms 2 88 million last year. This figure, however, is about 10 per cent lower than Its previous
      757 words
    • Article
      Property twins turn in mixed results
      314 4 ALTHOUGH both remain largely dependent on Investment .ncome, sister companies. Central Properties and Town and City report mixed performances for the year ended Dec 31, 1976. Where one reports an increase in profit the other reveals a reversal. Despite the depressed state of the
      314 words
    • Article
      FEB ahead by 51pc
      200 4 FAR Eastern Bank achieved record earnings last year with consolidated after-tax profit up 51 per cent and with total assets growing 16 per cent over 1975. Chairman, Mr. Ng Quee Lam. also reports that of the pre-tax level. But after providing for contingencies, diminution in value
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    • Article
      Eu Yang Sang sees steady growth
      154 4 SINCE it went Public in 1973, Eu Yang Sang Holdings has been making steady progress. Last year, the group achieved a 13.8 per cent increase in group pre-tax profit to $1.24 million. This latest unaudited figure represents earnings of 15 cents per share. At
      154 words
    • Article
      EAI gets $2m from insurers
      205 4 FIVE Insurance companies have paid a total of Ms 2 million to Electrical and Allied Industries whose factory was damaged In a fire on May 2 this year. The money represents the first payment which they will make to EAI to enable It to return
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    • Article
      UDA's first year ends well
      253 4 UDA Merchant Bankers closed Its first full financial year ended Dec 31, 1976 on a promising note with a pre-tax profit of M 5777,335. After tax and the writeoff of $116,398 for preliminary and pre-Incorpora-tion expenses, attributable profit was $204,937. This more than offsets the
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    • Article
      PEOPLE IN BUSINESS
      93 4 FRASEft and Neave has appointed Mr. Donald Mackay as group marketing controller for Malaysia and Singapore. Mr. Mackay was previously managing director for Canada Dry (UK), the soft drink subsidiary of Bass Charrlngton UK. Malaysia Building Society has announced the resignation of YB Encik Abdul Manan Bin
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    • LATEST RESULTS
      • Article
        KEPPEL Shipyard
        24 4 Group pre-tax profit $46.7 million ($54.4 million) for the year ended Dec 31. 1976. First and final dividend 15 per cent (12Vi).
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      • Article
        General Lumber (Holdings) —
        25 4 General Lumber (Holdings) Unaudited group pre-tax loss M 540,000 (profit $208,000) on turnover $11.27 million ($12.21 million) for the first halfyear ended March 31, 1977.
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    • Article, Illustration
      Higher growth in deposits boosts earnings at UAB
      764 4 PRE-TAX profit at United Asian Bank increased substantially in 1976 by about 35 per cent to reach M 59.4 million from 57.04 million In 1975. According to chairman, Tengku Arif Bendahara, the increase In profit was due to the high rate of
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    • Article
      Lock icon Same old faces again
      585 4 NYSE MARGIN DEBT BORROWERS NYT NEW YORK, Fri. The New York Stock Exchange has released its monthly margin debt figures, showing that investors, who in the aggregate owe a huge amount to their brokers, increased such borrowings once again. The latest figures are either frightening or
      NYT  -  585 words
    • Article
      Lock icon Whisky sales boost Suntory
      92 4 AFP TOKYO. Frl. Suntory, Japan's largest Integrated distiller, has reported a 12 per cent rise In after-tax profit on a 19 per cent sales Increase In the latest business year due to good sales of whisky. Sales totalled 417,135 million yen and net profit 9.356 million
      AFP  -  92 words
    • Article
      Lock icon Autopistas de Mare
      37 4 Reuter FRANKFURT, Frl The 100 million mark 73/4 per cent seven year Eurobond for the Spanish motorway authority Autopistas de Mare Norstrum was priced at par, a spokesman for lead manager Dresdner Bank said.
      Reuter  -  37 words
    • COMPANY MEETINGS
    • Article
      DIVIDENDS ANNOUNCED
      732 4 Current Ex Date Total for Total tar ——1 Date payable the peer previous year U.O. Lud 8% May 23 June It 6% 6% Gold Coil 7% June 6 June 18 11% 11% O.U.T. 12% June 7 June 20 12% 11% Setron 12 5* June 6 June 20 12.5%
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    • Article
      Profit jump at Metal Box
      198 4 METAL Box Singapore chalked ud a group pre-tax profit of $4.65 million for the year ended March 31, 1977 up 30.5 per cent over the previous year. The comparative figures for the previous year reflect the results of the operation In Singapore and Metal Box
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      207 4 Give us a man fora monthwell give him a language for life hifcn IViyUa 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
      207 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon BNOC raises US$825m loan
      416 5 UK COMPANIES Reuter THE British National Oil Corp is raising an US$B25 million loan through a group of British ana US banks. The company said the loan will be for eight years. The corporation said $875 million is being provided In US domestic dollars by the
      Reuter  -  416 words
    • Article
      Lock icon TATE & LYLE EXPECTS STEADYPROFIT
      229 5 TATE LYLE EXPECTS STEADYPROFIT Reuter TATE AND LYLE finance director Mr. David Hardy said after eight months trading in the current year the company does not expect second half pre-tax profit to differ markedly from the 133.4 million in the first half ended March 31. 1977. "There will be some
      Reuter  -  229 words
    • Article
      Foreign investment in W. Germany up
      301 5 BONN. Fri. Foreign direct investment in West Germany rose by over DM 3 billion last year, to a total of 45.52 billion, according to figures from Commerzbank. the country's third largest commercial bank. The leading overseas investors were Japan and Sweden, both of which
      301 words
    • Article
      Lock icon Volvo gets Dutch Government aid
      175 5 Reuter EINDHOVEN, Frl. Volvo 1 Car said the Dutch < Economics Ministry has agreed to lend the company 100 million guilders, largely In the form of a subordinated loan, to help 1 finance investment. Volvo will draw on the 1 loan over the next few
      Reuter  -  175 words
    • Article
      CHICAGO BOARD OPTIONS
      1479 5 On June 16 TRADING In options on the Chicago Board Options Exchange came to 93,899 contracts on Thursday compared with 109,227 contracts on Wednesday. OPTION JLY OCT JAN STOCK Alcoa Alcoa Am Tel Am Tel Am Tel Am Tel AUR AUR Avon Avon Avon Bank Am Bank
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    • Article
      Lock icon Chrysler forecasts lower second quarter
      175 5 Reuter CHRYSLER said In response to an Inquiry second quarter earnings will be between 50 and 55 US cents a share lower than they otherwise would have been as a result of lost production caused by two strikes. A Chrysler spokesman said the company lost
      Reuter  -  175 words
    • Article
      Lock icon AMC will increase spending on new products
      174 5 Reuter AMERICAN MOTORS CORP expects to spend US$l35 million this year and next on new car and Jeep products, chairman Mr. Roy D. Chapln told Reuters here. Earlier, the company had projected these expenses at tils million. w Mr. Chapln said the company
      Reuter  -  174 words
    • Article
      Lock icon GMAC borrowing
      62 5 Reuter GENERAL MOTORS ACCEPTANCE CORP arranged a private placement in April of US$2OO million of notes with an unnamed Saudi Arabian agency at a 7% per cent interest rate. The finance company said $50 million of the notes will mature on April 1, 1982, another $50 million are
      Reuter  -  62 words
    • Article
      Lock icon ITT anticipates 20pc growth
      259 5 NORTH AMERICAN COMPANIES Reuter INTERNATIONAL TELEPHONE AND TELEGRAPH chairman Mr. Harold 8. Oeneen said he expects the company's second quarter earnings to be. about 20 per cent ahead of the year ago and that growth should be maintained for the full year 1077. For the full-year
      Reuter  -  259 words
    • Article
      Lock icon ATT results below expectations
      119 5 Reuter AMERICAN TELEPHONE AND TELEGRAPH said Its results for the three months ended May 31. 1977 although gratifying, "still fall short of the earnings levels of the leading companies with whom we must compete in the financial market." Net earnings for .the quarter rose to US$l.l6
      Reuter  -  119 words
    • Article
      Lock icon SEC revises proposed stock quotation rule
      212 5 Reuter THE Securities and Exchange Commission has revised a proposed rule on the dissemination of stock quotations and seeks comments by Aug 1. The proposal would require all US stock exchange and associations to establish procedures for collecting bids, offers and quotation sizes from
      Reuter  -  212 words
    • Article
      Seagram third quarter down
      133 5 SEAGRAM made a net income of U8518.65 million (53 cents a share) on sales of $534.46 million ($499.56 million) for the third quarter ended April 30, 1977, down from $20.97 million (60 cents a share) previously. Net income for the quartet included an unrealised foreign exchange
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    • Article
      Lock icon Walter E. Heller notes
      85 5 Reuter WALTER E. HELLER CANADA is planning to offer Cs2s million guaranteed notes due 1984 in the international capital market. Orion Bank said. The notes, guaranteed by Walter E. Heller International are expected to carry a 9Vi per cent coupon with pricing around June 29. The
      Reuter  -  85 words
    • Article
      Lock icon Beaufort reserves equal Alaska's
      118 5 Reuter THE Beaufort Sea holds enough oil to supply Canada's needs for 16 years, the president of the drilling subsidiary of Dome Petroleum said. Mr Gordon Harrison, president of Canadian Mine Drilling, told a news conference here the area holds as much oil and gas sis
      Reuter  -  118 words
    • Article
      Lock icon Nomura to sell Toyota shares
      90 5 ASIAN COMPANIES Reuter TOKYO, FYI. Nomura Securities has arranged to sell to foreign investors about seven million Toyota Motor shares out of 37.8 million being offered at market value through public placement. Toyota last month announced the issue to increase Its captial to 69.84 billion
      Reuter  -  90 words
    • Article
      Lock icon GMK capital scheme approved
      75 5 Reuter MELBOURNE, Fri. Gold Mines of Kalgoorlle (Australia) said shareholders approved Its proposed capital reconstruction at Wednesday's extraordinary general meeting. The proposal now needs court approval. As previously reported, GMK proposes to writedown Its 6.13 million Asl par shares to 25 cents per each and sub-divide
      Reuter  -  75 words
    • Article
      Lock icon AMS A$40m debentures at par
      79 5 Reuter PARIS, Fri. The As4o million of Australian Mining and Smelting per cent 15 year notes were priced at par, the underwriting group said. Morgan Stanley Intl. Kleinwort Benson. N.M. Rothschild and Sons and Swiss Bank (Overseas) made the announcement as representatives of the group.
      Reuter  -  79 words
    • Article
      Dai'ei offering
      67 5 OSAKA. Frl. Dal'ei will make a public offering of 10 million shares at market price, with the payment to be made by Aug 16. it also plans a one-for-10 scrip issue on Sept 1 to return to shareholders the premium of an estimated 10 billion yen from the
      67 words
    • Article
      Lock icon Supreme Court approves Christiana, Dupont merger
      492 5 NYT WASHINGTON, Fri. The Supreme court reversed yesterday a lower court ruling that had prevented Christiana Securities from merging Into E.I. Dupont de Nemours. The controversial merger had been previously approved by the Securities and Exchange Commission, but the SEC ruling had been overturned
      NYT  -  492 words
    • Article
      Lock icon GOLDMAN BEAR HUG FOR DANIEL INTL
      653 5 NYT NEW YORK, Fri. Fop years Goldman, Sachs and Co. has worn the white hat In Wall Street's cany cms, refusing to represent corporate clients In hostile acquisition attempts. Thus, there were smiles in the offices of rival Investment bankers a little more than
      NYT  -  653 words
    • Article
      Lock icon Hattori Steel new style of bankruptcy
      201 5 AFP TOKYO, Frl. "Dear customers, our company has finally decided to discontinue business because of the protracted recession. We express our sincere thanks to all of you who have helped foster our business for many years This direct mall message was sent recently to
      AFP  -  201 words
    • Article
      Lock icon BHP, Esso oil find in Bass Strait
      96 5 Reuter MELBOURNE, Fri. Broken Hill Pty reported electric logs run in the kingfish no. 7 offshore well in Bass Strait Indicated the presence of several discrete oil bearing sands over the gross interval from 2.285 metres to 2,339 metres. Wireline testing of well,
      Reuter  -  96 words
    • Article
      Lock icon Mitsubishi Gas Eurobond priced
      117 5 Reuter FRANKFURT, Fri.. The US$2O million six per cent 15 year convertible Eurobond for Mitsubishi Gas Chemical was priced as expected at par, market sources said. Nomura Europe, the issue lead manager had said the bonds will be convertible into shares of the company at a
      Reuter  -  117 words
    • Article
      Lock icon Chiyoda, Nigerian contract
      81 5 Reuter TOKYO, Fri. Chiyoda Chemical Engineering and Construction and C. Itoh have signed a contract with the Nigerian Government to build a refinery to handle 100,000 barrels of crude oil per day at Kaduna. Central Nigeria. The contract includes building a lubrication oil plant with an annual
      Reuter  -  81 words
    • Article
      Lock icon Minolta bond
      44 5 Reuter TOKYO. Fri. Minolta Camera plans to issue a 50 million mark 10 year convertible bond in the West German capital market next month, securities market sources said. But Daiwa Securities said by the sources to be lead manager, declined confirmation. Reuter
      Reuter  -  44 words
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      Page 5 Advertisements Column 1
      188 5 :ik n WW TV W 3L *> The Push For Human Rights News Th« only tnUv interna JUNE 20 ISSUE team *our neareet f. A COPY MAMf i Or m«» th»« coupon no* SALE NOW i r COVER STORY THE PUSH FOR HUMAN RIGHTS 8-poge report sntuing tht state of
      188 words
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  • Article
    Share Information Service
    2192 6 Gr's Gr'i Net If77 Last > div Div yTd P/E Vol Day High Low Company Sale ♦or- e'w (•Hi) High LOW SECTION ONE INDUSTRIALS 153 136 Acma 153cd +4 12.ON 1.8 7.8 7.1 7 153 150 139 127 Ac.ua A 133 -6 12.ON 1.8 9.0 6.2 10
    2,192 words
  • Article
    Transactions in Singapore
    1653 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
    1,653 words
  • Article
    In Kuala Lumpur
    1429 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 Aama (1.498). CD. (2.058). Alaam (1 798). A. Chaa (I) 0
    1,429 words
  • Article
    Stock options
    117 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) (0.068 0.095) (7) 0.10, (1) 0.09, (1)0.08. 0.U.8. (June $3.50) (0.10S) (5)
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  • Article
    Unit trusts
    145 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Mana#*r*' price far Jua (Cttrrwt p ricw) The Commerce 1.08 1 78xd INCOME BOND 1.06 1.11 The Saving Fund 081 OH S pore Prog Fund 0.82 0.87 MARA BUMIPUTRA FUND S pore Security Fund 1.40 1.57 (Maaa0*r*' prioa* far Jua* m First
    145 words
  • Article
    CORPORATE BONDS
    137 6 B O T 8 1/2% 1981 (100.000) (102' iB 103S) B O T 7 5/8% 1984 (100.000) <98**B 99' .S) DBS Converts 6 1/2% 19*1 (100.000) (98HB 98%5) D B S 8 1/2% 1982 (100.000) (100 SB 101HS) EI 89% 1982 (100.000) (103'/.B 104S) E 1 B 8
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  • Article
    GOVERNMENT BONDS
    139 6 Rep Spore D Mark 7% 1982 (100.000) (|00*«B 101 "«S) Rep Spore L> Mark 1/2% 1983 (100.000) (38 7 *B 99HS) Rep Spore 73/4% 1987 (100.000) (1008 100'zS) Rep Spore 7 3/4% 1987 (250.000) (101 655) 5 1/4% 15/7/78 (250,000) (101 SOB 101 60S) 4 3/4% 1/5/79 (250.000)
    139 words
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  • Article, Illustration
    SES DIPS SLIGHTLY
    514 7 SHARES closed marginally lower in quiet and featureless trading on the Stock Exchange of Singapore yesterday. Trading started on a hesitant note, which gave way to nervous selling in the late morning and brought most counters down at the noon close. A mild upsurge of buying activity
    514 words
  • Article
    KLSE CLOSES MIXED
    415 7 THE Kuala Lumpur Stock Exchange ended yesterday on a mixed note with prices fluctuating erratically in active trading. Despite an initial steadier round of buying at the opening, prices slipped lower for the rest of the morning session, as traders turned cautious. The generally depressed conditions were
    415 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      411 7 HONGKONG: Share prices closed narrowly mixed after a lower opening In fairly quiet trading on Friday with a slight flurry of buying demand towards the close, dealers said. The Hang Seng Index rose 1.37 points to close at 439.76. Among leading shares Hutchison rose 7.5 cents to $3.40. and
      411 words
    • Article
      Tokyo
      513 7 TOKYO: Share prices advanced in fairly active trading with demand spreading over a wide front following Wat! Street's rise and on expectations margin trading curbs might be eased soon, dealers said on Friday. The Dow Jones average rose 21.85 to close at 4.992.04 with volume 180 million shares. The
      513 words
    • Article
      Sydney
      388 7 SYDNEY: The market closed weaker, dealers said on Friday. The Sydney AU-Ordlnarles index slipped 0.14 point to close at 456.77. BHP lost eight cents to $6.54 among industrials, but the Wales closed steady at $5.20. and ACI rose two cents to $1.82. Among minings. MIM lost two cents to
      388 words
    • Article
      Manila
      155 7 MANILA. The market closed higher, after falling for three days, on shghtly higher turnover. dealers said on Friday. Oils remained the main features, particularly Oriental and Basic Petroleum, and minings also firmed on higher metal prices. Gainers outnumbered losers 24 to one. JUNE 17 Pesos Acoje Mining .0135 unch
      155 words
    • Article
      Bangkok
      101 7 JUNE 17 Bahts Asia Fibre 175 unch Bangkok Bank 305 unch Bangkok Invest. 179 1 Bangkok- Metropolitan Bank Bata 523 23 BerllJucker 262 CharoongThai Wire 163 •1 Diimex DusitThanl 220S 20 Faber Merlin First Trust Indo-Thai 180S unch Industrial Finance Corp 1215S J And J Ho 216 ♦1 Jalaprathan
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    • Article
      Amsterdam
      296 7 AMSTERDAM: The market closed quietly lower following Wall Street's overnight decline, bourse sources said on Thursday. AKZO and Hoogovens led declines in Dutch Internationals losing 1.00 and 1.10 guilders respectively. Elsewhere, lower shares Included Heineken, AMRO and Nationale Nederlanden. Bergos, Boer and Gieaflen were among isolated higher spots. Slate
      296 words
    • Article
      Brussels
      157 7 BRUSSELS: Share prices closed mixed to lower In very quiet trading, bourse sources said on Thursday Rises were shown by Softna, Aiturienne, Hoboken, FN, Cockerill and Cometra while Traction, GB, Wagon* Lit*, Clabecq, Bruxelle* Lambert and leading electricals were lower. Gold shares firmed. Canadian Petrofma was unchanged but Petrofina
      157 words
    • Article
      Zurich
      264 7 ZURICH: The bourse showed a maintained tendency overall, with banks very steady, dealers said on Thursday. Among rinancials Buehrle was again actively traded, with bearer higher and registered lower. Interfood declined. Insurance shares and industrials were mainly little changed, with a markedly lower Sandoz the only exception. In the
      264 words
    • Article
      Jo'burg
      379 7 JOHANNESBURG: Gold shares featured with firmer prices across the board and some prices sharply higher, dealers said on Thursday. Dealers attributed the rise to the higher bullion price and renewed local and overseas demand. Heavyweights gained up to 200 cents, while medium and lightweight issues rose up to 45
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    • Article
      Toronto
      324 7 TORONTO The market closed sharply higher in active trading on Thursday with oil and gas issues leading the advance. Management companies, transportation and consumer products were double-digit Index gainers The composite Index was up almost six points to 1.014.4. its highest level since April 4. Magna International rose H
      324 words
    • Article
      Milan
      159 7 MILAN: The market closed mixed in quiet trading on mainly technical considerations. with no special background features evident, dealers said on Thursday. Lower shares Included Ass Generali, Fiat, IFI prlviliged. On Ommobiliare, Italcementi. Montedison, Olivetti privileged, both Pirelli's and Snia Viacoaa. Elsewhere Bastogi. Finaider, I taigas and Olivetti ordinary
      159 words
    • Article
      Paris
      388 7 PARIS: The market was slightly firmer on Thursday, with further gains inhibited by the poor May retail price figures which will delay the economy's recovery, dealers said. Isolated gains were made by CGE which announced doubled 1976 consolidated profits and Lafarge which said it expects positive 1977 results, while
      388 words
    • Article
      Frankfurt
      292 7 FRANKFURT: Shares lost ground on a lack of orders, dealers said on Thursday. Chemicals lost on average two marks. AEG led electrlcals up to 3.20 marks lower. Utilities, banks, autos and stores also mainly fell. Public authority loans were between 0.25 marks higher and 0 30 marks lower. Mark
      292 words
    • Article
      New York
      1197 7 NEW YORK: The stock market took the news of a rise In US housing starts calmly and posted a small gain in heavy trading on Thursday. Trading started on a lower note, extending Wednesday's weakness But strength began building In the afternoon when the government reported housing starts
      1,197 words
    • Article
      Indices
      68 7 FINANCIAL TIMES INDUSTRIALS Thursday 443.5 Wednesday 450.1 Week Ago 446.8 DOW JONES AVERAGE INDUSTRIALS Thursday 920 45 Wednesday 917.57 Week Ago 909 85 LONDON DOLLAR PREMIUM Thursday 114 to 114' a Wednesday 115'» to 115 7 H.K. HANG SENG Thursday 438 39 Wednesday 441.70 Week Ago 448 42 SYDNEY
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      420 8 PRICES in the Singapore rubDer market yesterday were marked up at the outset following higher overseas advices but later prices fell back on freer offerings of July and August, dealers said. Towards the morning close, however', prices advanced again on arbitrage and short-covering interest in
      420 words
    • Article
      Closing prices
      28 8 Rubber: June 17 < Singapore: July 190.50 (up 0.50 ct) Malaysia: July 191.25 (up 0.50 ct) Tin: $1,437 (up $10) Official offering: 173 tonnes (down 17 tonnes).
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    • Article
      R.A.S. PRICES
      296 8 Noon Close (per kilo) (per kilo) Int. 1 R.S.S. prompt f.o.b. Buyers Sellers Buyers Sellers 190 00 191.00N 190.00 191. OON Int 1 R.S.S. July 190 50 191.75 190.50 190.75 Int. 1 R.S.S. August 192.75 193 00 192.50 193.00 Int. 2 R.S.S. 188.50 189.50N 188.50 189.50N UK/Cont. 187.50
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    • Article
      SSR AND SMR
      79 8 July Aocurt R.A.S. (CamptMtk) (Forward Mtk) Rnvar« fhltal ■Uparki) SSR20 (1-ton Pallet) 191.00 192.OON 192. SO 193.SON SSR50 (1-ton Pallet) 189 00 190.OON 190.SO 191.SON M.REL.B SMR5CV (1-ton Pallet) 215.50 217.50N 218.50 218.SON SMR5L (1-ton Pallet) 214.00 218. OON 215.00 217.00N SMR 5 (1-ton Pallet) 190.00 198
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    • Article
      Cocoa
      140 8 LONDON, Frl. Terminal cocoa extended early £40 limit losses in near Jly (at £2,857) to close the opening/special limit call down from last night by £50 Jly at £2847.50 to £25 per tonne. Dealers said sentiment was Influenced "by overnight easiness both here and in New York, the movement
      140 words
    • Article
      Rice
      192 8 BANGKOK. Fri. Indicative prices for rice quoted here were: (US dollars per tonne fob bull Bangkok) White Rice: 100 per cent lit class 297 100 per cent 2nd 282 100 per cent 2nd 278 100 per cent 3rd 278 5 per cent 265 10 per cent 240 IS per
      192 words
    • Article
      Produce exchange
      516 8 EASIER conditions persisted in very dull trading in the Singapore produce market yesterday. In certain commodities, the drop in price was quite sharp. Coffee bean was a case in point. Its price went on a tallspln in sympathy with tne almost continuous decline experienced in the London and
      516 words
    • Article
      Coffee
      304 8 LONDON, Fri. Coffee futures In the morning failed to consolidate on yesterday's late recovery and fell back again under renewed selling pressure, dealers said. Prices closed the opening session £135 to £90 down on last night. The biggest loss was In Jan at a mid-price of £2,005 while Sept
      304 words
    • Article
      Palm oil
      87 8 C.I.F. Rotterdam. US dollar* pi er ton. LONDON: ThtrMUv Pr*». Malaysia 5% f fa bulk 800 N Aug unci). Sumatra 5H June unch 820 pd July 812.50 pd 815 pd Aug 802.90 005 pd 815 805 pd Sept 597.50 pd 500 pd 827.50 pd Nov unch Dec unch
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    • Article
      Straits tin market
      189 8 THE Straits tin price In Penang yesterday was up $10 to $1,437 on an official offering down 17 tonnes to 173 tonnes. In LONDON vesterday, tin eased by £12 for cash and £15 for Three Months In standard metal while high grade lost £10 and £15 respectively.
      189 words
    • Article
      Sugar
      149 8 LONDON, Frl. Terminal sugar was mostly £1.50 (near Aug at£ll7.Bo to £0.15 up from last night at the opening call although prices were fractionally below the highs. The London dally raws price was £1 up at £114 while whites were unchanged at £127 On Thursday, terminal sugar was irregularly
      149 words
    • Article
      Hongkong comex
      333 8 HONGKONG, Frl. Cotton futures closed sharply higher in moderate trading, after a strong opening, dealers said. The opening call was not completed as March reached the two US cents limit up at 61.60 cents. In line with the overnight sharp rise in New .York, they added. October gamed
      333 words
    • Article
      Soybeans
      151 8 CHICAGO, Frl. Soybean futures were mixed at mldsession yesterday, with old crop months up about four cents a bushel and new crop months off four to 11 cents. Late In the session, Soybean futures were hit by active selling and finished with losses of 17 ft to 22 cents
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    • Article
      Wheat
      70 8 CHICAGO, Fri. Wheat futures were firm around midsesslon yesterday, with Vt to 1 Yt cent a bushel her. Trading was light and confined to a narrow range in early dealings. -Fractional losses appeared ini- tially but exporter buying edged prices back upward. Wheat futures finished the session with gains
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    • Article
      Rubber ends lower in active trade
      376 8 SOMETHING of a shakeout of 8 cents had been experienced In trading more active than of late, with turnover Improved, said Holiday, Cutler, Bath A Co in Its weekly review of the, Singapore and Malaysian rubber markets. The easiness was precipitated by arbitrage selling
      376 words
    • Article
      Copper
      255 8 LONDON, Fri. Copper rose by £2.50 per tonne for cash and £2 for Three Months. Three Months traded upto C 787 per tonne In the pre-market but the downturn produced business to C 779 In the ring. The kerb sagged further with £777 paid prior to final business at
      255 words
    • Article
      Silver
      182 8 LONDON. Fri. Silver In the morning lost mostly £1.50 per troy ounce. Three Months traded from a pre-market high of 262.5 pence down to 269.9 pence in the ring. Three Months finished the kern at 261.4 pence. Sales were featureless at 42 lots. On Thursday afternoon, silver closed with
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    • Article
      Lead
      110 8 LONDON, Frl Lead In the morning was €2.75 up for cash and €1.75 per tonne higher for Three Months. Three Months was pushed upto C 341 per tonne. 8 gain of £6 from yesterday afternoon. However, a quieter tone was evident In the ring and profit-taking saw Three Months
      110 words
    • Article
      Gold
      427 8 GOLD failed to rally higher In the US on Thursday. This caused the market in Singapore to open comparatively lower yesterday when the kllobar was quoted at 5511.090. However, prices declined on long liquidation, touched a low of 5511,070, before short covering and fresh longs pushed prices to 11,125.
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    • Article
      Zinc
      112 8 LONDON. Frl. Zinc In the morning showed gains of £1 for cash and £0.75 per tonne for Three Months. Dealers said Three Months advanced to £338 In the pre-market on fresh buying. During the ring Three Months traded down to £332 per tonne. Ring sales of 6.550 tonnes mainly
      112 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        490 8 DULL trading was reported In the Singapore foreign exchange yesterday with rates generally holding steady from their opening levels. Against the yen, the dollar was generally firm. It opened at 272.35/45 yen In Tokyo with commercial covering pushing the dollar upwards to 272.80/90 around 10 a.m. here. In the
        490 words
      • Article
        Minimum lending rates
        55 8 ACBC «*< m Aifemene Bank SH Citibank t v« Bangkok Bask 7 HSBC (H Bank of America •H Indoauex «H Bank of China 7 SH Bank of Tokyo «v. Mitsui Bank (Vt Bank Nafara OCBC «V, Indonesia 7 OUB CV. Chartered Bank cv. UCB 7 Chaae MaahatUa
        55 words
      • Article
        Asian $ rates
        163 8 Asian rates ASIAN currency deposit interbank rates as at close on June IT. US (Mk ir(8»oO Offer Bid 7 days .51/2 5 3/8 1 mth .55/8 51/2 2 mths 53/4 5 5/8 3mths .57/8 5 3/4 6 mths .8 1/4 8 1/8 9 mths .87/18 8 5/18 12 mths .8/2
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      • Article
        Discount
        48 8 Range of price i offered by discount houses on June 17. Overnight 1'4 to 3S Call deposit 3% Buy MUu 3- month Treasury bills S 2 7/8 3-Month Bank bills 4 1/1# 315/16 3-Month CD 41/2 4 3/8 6-Month CD 45/8 41/2 Sauce: National Discount Co Ltd.
        48 words
      • Article
        Euro $ rates
        161 8 Euro rates LONDON, Frl. Eurodollar deposits opened mixed with small movements either side of the closing levels In quiet pre-weekend trading, dealers said. Periods opened with gains and losses of 1/16 to unchanged In places for overnight levels. Dealers said the market had a slightly offered undertone following some small
        161 words
      • Article
        Treasury bills tender
        85 8 RTBULTS of tender held on June IT (or 91-day Stncapore Government Treaeurj Mile to be laoued from June VtoM: Offered 115.000.000 Applied tar: HIJM,OOO Allotted 115.000.000 Accepted bide: Mill, approximately hi«ttar bide In Aiermct rate of dlacount on allot- ment: 2.966% pa Results or tender held on
        85 words
      • Article
        New York
        159 8 NEW YORK. Frl. The dollar yesterday closed little changed from opening levels against most currencies in thin trading ahead of the German holiday today, dealers said. A $1 billion increase in US money supply was In line with market expectations and had no effect on late quotations, they
        159 words
      • Article
        London
        250 8 LONDON, Fri. The guilder weakened in small trade as operators unwound long positions while other currencies drifted idly, partly reflecting today's market holiday in Germany, dealers said. Sterling was steady and the US dollar was little affected by the rise in US money supply in the latest week. Elsewhere,
        250 words
      • Article
        Hongkong
        102 8 HONGKONG. Fri. The yen was moderately active and closed at 272.40/55, little changed on the 272.48 New York close, after weakening to 272.75/85 at one stage, dealers said. Other currencies were quiet and little changed on their New York closes, with the Hongkong dollar closing at 4.6990/7000 from yesterday's
        102 words
      • Article
        Tokyo
        94 8 TOKYO. Frl. The US dollar for overnight delivery closed at 272.50 yen In fairly active trading, slightly higher than Its 272.40 at yesterday's close. The US unit Initially strengthened on demand from Japanese banks to meet large import settlement needs today and Monday. Dollars for immediate delivery closed at
        94 words
      • Article
        Zurich
        54 8 ZURICH exchanges closing quotes on June 16. US 2 4884-4609 UK 4 2773-2708 Can 2.3549-3596 W Germ 105 68-70 Neth 100 35-41 France 50.33-35 Belg 6.90-90 1/2 Denm 4110-12 Norw 47.05-06 Swed 56 21-24 Italy 0.2611-2812 Austria 14 66 1/4-87 Port 6 44-45 Spain 3.58 1/2-50 1/4 Arg 0
        54 words
      • Article
        Australia/NZ
        54 8 AUSTRALIA/NZ exchanges on June 17. Austral la: Sterling 0 5485/0 6415 US dollar 1.1114/ 1.1066 Ninety-day air mall buying rates: Sterltng 0.6609 US dollars 1.1366 Ninety-day forward buying rates Sterling 0.6493 U8 dollars 1.1004 New Zealand Sterling 0 5614/0 5562 US dollar 0.9600/ 6.9900 Ninety-day forward rate: Sterling 0
        54 words
      • Article
        Frankfurt
        7 8 THE Frankfurt market was closed yesterday.
        7 words
      • Article
        Eurobond prices
        324 8 LONDON, Frl. Straight dollar Eurobonds were steady and basically unchanged with an easier undertone reflecting proflttaking in the market, dealers said. Convertible dollar Eurobonds were up to Vi per cent firmer in Quiet trading. LONDON Eurobond prices on June 17 Straight* BM Offer Austrian*. 00 101 102 Bell
        324 words
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      Page 8 Advertisements Column 1
      193 8 rh L MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE ASIA RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide to the latest developments that have taken ploce in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin
      193 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Nissan car output rises
      152 9 UPI TOKYO. Fri. Nissan Motor Co, announced its car production in May increased 1.4 per cent over a year ago to 188.690 units. Officials of Nissan Motor, maker of Datsun cars, said the company manufactured a total of 137,801 passenger cars in May. up 4 .8
      UPI  -  152 words
    • Article
      Lock icon Boeing orders
      72 9 Reuter RENTON, (Washington), Thurs. Boeing Co said it has received an order for three 727-200 Trijets from All Nippon Airways and an order for two 727-200s from Hughes Airwest. The company said two of the All Nippon planes will be delivered in December 1977 and one in July
      Reuter  -  72 words
    • Article, Illustration
      Current jets have a long life span
      251 9 CURRENT wide-bodied jetliners will be useful even In the 21st century, two top Lockheed California engineers told the AngloAmerican Aerospace conference in London this week. But planning, they said, must proceed now for new generations of aircraft that will follow today's models. Mr.
      251 words
    • Article
      Lock icon British-Soviet body for shipping ties
      174 9 Reuter LONDON. Fri. A new type of mechanism to deal with shipping relations between the UK and Soviet Union will be set up by the two countries. UK Minister of Trade Edmund Dell told a press conference. The new body, which will cooperate with the
      Reuter  -  174 words
    • Article
      Lock icon London freight market
      213 9 UPI LONDON, Fri. Grain chartering spread over a wider range of trades, but the main interest again centred in the Atlantic where US Gulf tonnage accepted farther rate reductions. The Proteus, for instance. agreed to a lumpsum rate equivalent to U554.45 (FIO) for a 55.000ton June shipment
      UPI  -  213 words
    • Article
      Lock icon ROOM FOR BIG AND SMALL COMPUTERS
      466 9 NYT DALLAS, Frl. Computers, from giant down to microscopic size, are competing fiercely for attention, markets and the services of talented people here at this year's National Computer Conference, described as the largest and most lavish exhibition of computer hardware to date. During formal
      NYT  -  466 words
    • Article
      Easing of rules during monsoon period
      158 9 MASTERS, owners and agents who intend to work cargo in the eastern and western anchorages during the period of the southwest monsoon will be aided by a relaxation in some of the directives of the Port of Singapore Authority. Directives issued in Port Circular
      158 words
    • Article
      Lock icon UK PORTS' RECORD PROFIT
      59 9 AFP LONDON, Frl. British ports made a record profit of C3B million (S$ 160 million) last year, thanks to an Increase in traffic. The National Port Authority said that the volume of traffic rose by 7 per cent last year, compared with 1975, and by 11
      AFP  -  59 words
    • Article, Illustration
      IN PORT
      426 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bucuresti (0600 46 Cherry Vilja (B. Barge) (1200 tbc) 48 Coaster 111 (0700) (Req. Ramp) 19 Fairsky (0530 after Straat Luanda) 3/4 Golden Eastern (after Tutong) (Subject free Board) 22 Hamburg Maru (JKMY) (after Fujitsuki Maru) 15/16 Joan D'arc (0600) 24 Kota Machan
      426 words
    • Article
      Lock icon VW needs second US plant
      194 9 AP NEW YORK, Frl. Volkswagenwerk Ag, struggling to overtake two Japanese companies in the race to sell foreign cars in the US says it will eventually have to open a second American plant. Tonl Schmuecker, chairman of the company's management board, told the New York
      AP  -  194 words
    • Article
      Frota Oceanica Brasileira
      167 9 FROTA Oceanica Brasileira S.A., the Brazilian national line, started sailings to Singapore in 1970. It provides a regular monthly service between Singapore and ports like Santos and Rio de Janeiro, which are its principal Brazilian ports. In South-east Asia, it also calls at Port Kelang and Penang,
      167 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      564 9 ARRIVALS Service Local Operator Number Time From CAL CI333 0040 TPE/HKO/KUL CPA CX003 0145 HKO MAS MH682 0810 KCH CPA CX710 1000 HLP CAL CI814 1000 HLP SIA SQ211 1015 HLP OIA GA980 1030 HLP THAI TG423 1035 BKK OIA GA908 1100 MES PAL PR501 1115 MNL
      564 words
    • Article
      Lock icon FORD PRE-SELLING 1978 TRUCKS
      130 9 Reuter DETROIT, Frl. Ford Motor Co said It is authorising dealers to pre-sell 1978 model heavy trucks at prices on average 7.3 per cent or US$9BO (5512.410) above comparable 1977 models. The company said it told dealers they may now take orders on large trucks for
      Reuter  -  130 words
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      274 9 i >1 'J &A 111 (see below) 4 <•. m n t i X w m t: 4$ |l m- H The three bosk needs and the three ports of Britannia) 3 understanding, insight, and wisdom in every field of learning. Written by experts, approved by experts, but not written
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    Lock icon Who provided the guns for the coup in Seychelles?
    1359 10 Peter Sharrock reports from the lush palm-covered islands of the Seychelles where recently the lotus-living islanders sloughed off their inertia to topple their swinging playboy President, Jimmy Mancham while he rested in London's Savoy Hotel in preparation for the Commonwealth Conference.
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    Lock icon BURMA STILL PAYING THE PRICE OF ISOLATIONISM
    926 10  -  By DENIS GRAY AP BURMA'S billion-dollar question is whether the South-east Asian nation will finally come out of its 15-year economic and Eolltical hibernation. espite signs of some stirring, many analysts answer with a qualified "No." Playing the tricky guessing game here are
    AP  -  926 words
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    Producers' welcome for US decision to bump up buffer stocks
    1376 10  -  STABILISING THE PRICE OF TIN By MILTON CHASE THE United States Government's decision to make a voluntary contribution to the International Tin Council's (ITC) buffer stock has been hailed by Malaysian and US officials and mining Industry spokesmen as a
    1,376 words
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      324 10 2 remarkable accounts of the Japanese Occupation SYONAN MY STORY Mamoru Shinozaki 19 x 13cm; 123 pages; limp; 555.50 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
      324 words
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    Vitagen — a new milk drink on sale
    143 11 Vitagen a new milk drink on sale MALAYSIA Dairy Industries, facing stiff competition from other dairy producers, has imported a new cultured milk drink. Vitagen, through their Malaysian subsidiary, Malaysia Milk. The company is producing the new drink, originating from Japan, under a technical agreement, according to the company secretary,
    143 words
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    UNESCO CHIEF TO MEET MINISTERS
    174 11 THE director-general of the United Nations Educational Scientific and Cultural Organisation (Unesco), Mr. Amadou Mahtar M'Bow. arrived here yesterday from Kuala Lumpur for a two-day visit. Mr. M'Bow told newsmen at the airport that he will hold discussions with various government ministers here on cooperation
    174 words
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    One-way Orchard Road
    119 11 THE Orchard Boulevard/ Orchard Road one-way scheme will be implemented from Sunday at 11 am. The implementation of the $2 million traffic scheme will complete the Orchard Road one-way system from Dhoby Ghaut/ Penang Road junction to Grange Road/ Tanglin Road Junction. Four new sets of traffic
    119 words
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    Malaysia to draw up new farming policy
    342 11 PASIR MAS. Frl. Finance Minister Tengku Razalelgh Hamzah announced today that the Ministry of Agriculture was drawing up a new agricultural policy for the nation to ensure food sufficiency and maximum utilisation of land. Tengku Razalelgh, who was opening a civics course for
    342 words
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    Lock icon Moluccan spice farmers are wiser and richer
    948 11 NYT PASSO (Molucan Island), Fri. For hundreds of years fragrant crops of clove, nutmeg, vanilla and copra have been produced here on land that was once known more descriptively to the West as the Spice Islands. Some of the world's rarest and most
    NYT  -  948 words
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    Lock icon Recovery: Some momentum will do the trick
    309 11 Reuter TOKYO, Frl. The Japanese economy needs some momentum to restore balance between demand and supply and speed up Its recovery, the Bank of Japan said. Its annual report said the economy is still suffering from imbalances left by the oil crisis of
    Reuter  -  309 words
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    Lock icon S'pore, KL rubber exports lower
    163 11 Reuter EXPORTS of sheet and crepe rubber from Singapore and Peninsular Malaysia fell to 162,196 tonnes in February from 187,747 tonnes In January and 171,488 tonnes In February last year, Statistics Department figures showed. Of the February exports (January in brackets) the UK took 13,196
    Reuter  -  163 words
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    Owen Davies elected as BBA president
    267 11 MR. Owen Davies, managing director of British Petroleum, was yesterday elected president of the British Business Association here at its annual general meeting after Mr. Leonard Rayner declined to stand for re-election. Mr. Davis was a vicepresident in the last committee. Two vice-presidents were
    267 words
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    $268,000 CONTRACT
    55 11 HUP Cheong has signed a contract with Shangri-La Hotel to supply the latter $268,000 worth of mattresses and box-springs. The contract calls for the supply of new mattresses and box-springs for use in the existing building as as the new Garden Wing, which is scheduled for completion by
    55 words
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    TRIUMPH ADLER MEET IN STORE
    148 11 TRIUMPH-ADLER Vertriebs will be holding a service management conference in Singapore from June 21 to 23. The conference is the first of its type to be organised by the manufacturers of Triumph, Adler. Royal and Imperial office equipment. Nineteen delegates from 12 countries including Singapore,
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    Lock icon IMCO pledge to help set up Straits scheme
    452 11 AFP KUALA LUMPUR. Frl. The Inter-Governmental Maritime Consultative Organisation (IMCO) has assured Malaysia, Indonesia and Singapore of Its technical and expert assistance in the traffic separation scheme for the Malacca Straits to ensure navigational safety. This was reported today by Bernama News
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    Lock icon 'FOREIGN' LABEL FOR OFFSHORE LOANS
    184 11 Reuter MANILA, Fri. Central Bank governor Oregorio Licaros has declared that loans to be granted by 16 newly-approved Offshore Banking Units (OBUs) will be considered foreign loans and therefore require prior Central Bank approval, it said today. Such loans obtained through the OBUs would also
    Reuter  -  184 words
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    Lock icon Falling coconut prices worry Philippines
    298 11 Reuter MANILA, Fri. The Philippines is concerned about the fall In coconut oil prices over the past week. President Marcos said last night. Speaking to the Confederation of Philippine Exporters (Cope), Mr. Marcos said it has been falling at an average of US 2 cents
    Reuter  -  298 words
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    Lock icon Colombo tea for Aussies by air
    201 11 AP COLOMBO, Fri. The Colombo tea trade plans to break new ground by airfreighting large quantities of tea to Western Australia on weekly cargo flights. The pioneering consignment of 30,000 kilos will be flown to Adelaide on Sunday. The Colombo firm of Harrison and
    AP  -  201 words
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    Lock icon Govt help may be sought in sugar talks
    193 11 AFP CANBERRA. Fri. The Australian sugar industry is considering approaching the Australian Government if necessary to enforce Its long-term sugar contracts with Japan. Trade sources said this today after the breakdown in talks yesterday between the Japanese sugar mills and Colonial Sugar
    AFP  -  193 words
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    Lock icon LOANS FOR SEOUL, MANILA
    130 11 AFP WASHINGTON. Fri. The World Bank today announced loans totalling US$l2B million (Ss3ls million) to South Korea and the Philippines. A 70-million-dollar loan to the Korean Development Finance Corporation (KFDC) will help to cover foreign-exchange requirements for industrial projects financed by the KFDC. It will be
    AFP  -  130 words
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      313 11 APPOINTMENTS MANAGER OF MATERIALS EXPATRIATE OUTBOARD MARINE ASIA LIMITED HONG KONG for its Hong Kong expansion program in the field of manufacturing outboard motors and parts thereof, Outboard Marine wish to add to staff a man familiar with all aspects of purchasing, production, inventory control, to organise and maintain control
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      217 11 MULTINATIONAL COMMERCIAL BANK with extensive branch network located in HONG KONG requires individual capable of assuming position of Assistant General Manager, reporting to General Manager, and responsible for OPERATIONS AND ADMINISTRATION Candidates' background should include: Stable and successful employment record with US/European Bonking Industry Thorough knowledge of classical banking business
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      50 11 NOTICES FESCO-INDA LINE M.V. "KOMSOMOLETS USSLRIJSKA" Arrived: 13/6/77 at G«(1own Nos: 303/304 P P W General Survey on damaged cargo ex. above vessel will be held on 21/6/1977 as from 9.00 a.m. to 12.00 p.m No further survey will be held. Agent*: S'pore Soviet Shipping Co. Pte. Ltd., Tel: *****84
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    Lock icon Leaders gather to end scourges of global hunger and malnutrition
    1331 12 MANILA, Friday Reuter MINISTERS and top officials from 36 countries gather in Manila this weekend to agree on ways to end the scourges of malnutrition and starvation in the world and to limit the cycles of up and down grain
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    Lock icon WHEN IT'S ALL RIGHT TO GREASE THE PALM ...
    199 12 WHEN IT'S ALL RIGHT TO GREASE THE PALM AP NEW YORK. Fri-. US Congressman Bob Eckhardt told corporate directors yesterday that commercial bribery of foreign officials was banned under proposed federal legislation but that certain "grease payments" to speed things up were not. He said the bill does not cover
    AP  -  199 words
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    LONDON STOCKS
    777 12 LONDON. Fri Government bonds firmed after the retail price index which showed a smaller than expected rise, dealers said. Equities pared earlier losses and at 3 00 pm the Financial Times index was down 2.5 at 441 0 Overall trading was quiet. Government bonds ended with net rises
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    Lock icon Buyers shy away from coffee market
    354 12 Reuter NEW YORK, Fri. Coffee prices fell, then partly recovered, here yesterday after two years of con* sistent increases. Traders said buyers were shying clear of a dropping market. Futures contracts for coffee deliveries in July lost as much as U542.28 cents (SI1.03) per
    Reuter  -  354 words
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    Lock icon Argentina backs reserve
    83 12 Reuter BUENOS AIRES, Fri. Argentina will support the establishment of an international grain stock reserve at the forthcoming meeting of the World Food Council in Manila, Agriculture Secretary Mario Cadenas Madarlaga said. At a press conference prior to his departure to the Philippines, he estimated about 20
    Reuter  -  83 words
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    General cargo at port — a 4 pc drop in April
    241 12 General cargo at port a 4 pc drop in April GENERAL cargo handled at the Port of Singapore Authority's (PSA) six gateways dropped by 4 per cent to 1.52 million tonnes in April. Some of the items which suffered substantial falls were rubber, logs and coffee. These fell an average
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    Flower exporters form association
    211 12 THE draft constitution of the Singapore Flower Exporters' Association (SFEA) will be submitted to the Registrar of Societies for approval In a few days' time. Exporters hope to use this association to fight attempts by Holland and Italy to restrict orchid exports from Singapore and Thailand.
    211 words
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    Lock icon Only Manila has say in sugar matters
    256 12 Reuter MANILA. Fri. President Marcos has abolished three sugar agencies whose powers will be taken over by the Philippine Sugar Commission, a government body, it was announced here today. The announcement said the agencies abolished were the Philippine Exchange, the trading arm for
    Reuter  -  256 words
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    Lock icon UP ADIT HOPES ASEAN WOULD REACT IF . . .
    306 12 UP ADIT HOPES ASEAN WOULD REACT IF UPI JAKARTA, Fri. Thailand's Foreign Minister Upadit Pacharlyangkun said here today he hoped other Asean member "would react" If Thailand was attacked. "We are all in the same boat and what happens to Thailand will undoubtedly have an Impact on the others," Mr.
    UPI  -  306 words
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    Lock icon Ship orders up
    64 12 Reuter TOKYO, Fri. Shipbuilding orders received by Japanese shipyards from overseas owners in May rose to 15 totalling 241,000 gross tons, from 10 ships totalling 151,300 tons In April, but fell from 25 totalling 324,400 tons in May last year, the Japan ship Exporters Association said. The
    Reuter  -  64 words
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    Bumis snap up Supreme shares
    363 12 THE special issue of 2.86 million MSI shares at par to bumlputra Investors by Supreme Corporation was oversubscribed by 23 per cent. The underwriters, Bumlputra Merchant Bankers and Asian and EuroAmerican Merchant Bankers (Malaysia), reported that when the application lists closed on June 15. they
    363 words
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    EIGHTH WTCA ASSEMBLY OPENS ON JUNE 26
    192 12 TWO industrialists and a banker will participate In a forum on "Trade and Investment Opportunities in South-east Asia" at the World Trade Centres Association's (WTCA) general assembly which, opens here on June 26. Mr. Roger O'Nell, managing director of Mobil Oil Singapore, Mr.
    192 words
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    POSB sues Manning Investors
    105 12 THE Post Office Savings Bank has filed a suit for $390,629 against Manning Investors at the High Court yesterday. The money Is allegedly due under a contract. In another suit, a stock broking firm, Ong and Company, Is claiming 539.924 from Mr. Llm Lo Lin, allegedly
    105 words
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    Lock icon Witteveen facility
    35 12 Reuter WASHINGTON, Frl. US Assistant Treasury Secretary for international affairs C. Fred Bergsten said Saudi Arabia will undoubtedly. contribute more than US$2 billion (Ss4.B billion) to the International Monetary Fund's Wltteveen Facility. Reuter.
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    Smooth sailing for pleasure craft builders
    325 12 UNLIKE the re«t of the ■hipping industry, local pleasure craft builders are enjoying booming sales. Last year, sales jumped 38 per fent to $10.5 million and prospects are that growth will continue. The domestic export of vessels not exceeding 25 gross tonnes also increased
    325 words
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    Lock icon Quotas extended
    24 12 Reuter OTTAWA. Frl. The Canadian Trade Department said clothing import quotas announced last November will be extended to June 30, 1978 Reuter.
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    S.Y. Lee takes up new post at Nantah
    305 12 DR. S.Y. LEE, senior lecturer at the University of Singapore, has been appointed head of industrial and business management at Nanyang University. Dr. Lee. who is also appointed associate professor. will be in charge of two divisions banking and finance and business
    305 words
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    NPB seminar for Inchcape a 'milestone'
    462 12 THE National Productivity Board (NPB) has added another feather to its cap by successfully conducting a first-ever seminar for directors 12 senior directors of Inchcape Berhad last week. The five-day seminar was commissioned by Inchcape. An Inchcape spokesman said the seminar is a triumph
    462 words
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      51 12 NOW ON SALE at your regular bookshop. The phenomenal bestseller which has taken America by storm the story of a black American's search for his roots in Africa. ROOTS has sold over 1 1 million hardback copies since its publication and it is continuing to top the bestseller lists even
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