The Business Times, 14 July 1977

Microfilm: NL9344
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 THURSDAY, JULY 14, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Cut in US defence bill
      83 1 UPI WASHINGTON, Wed. The Senate Appropriations Committee today began work on President Carter's requests to take US$l.4 billion (813.4 billion) In B1 Bomber Money out of the budget and spend $381 million to speed development of the New Cruise missile. The overall effect of Carter's
      UPI  -  83 words
    • Article
      Enplas invests $500,000
      47 1 ENPLAS Singapore, a Japanese company manufacturing precision plastic mechanical parts and movement merchanlsms, plans to Invest more than $500,000 in Singapore to Increase the range of its products. This Investment will provide additional employment for 30 people, bringing its total work force to 100.
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    • Article
      Lock icon Thai greenlight
      49 1 AFP BANGKOK, Wed. The Thai Cabinet today gave the greenlight for the setting up of a tourist office In Singapore, a government spokesman disclosed. The office, which would be a branch of the Tourist Organisation of Thailand (TOT), would be opened in August, the spokesman said. AFP
      AFP  -  49 words
    • Article
      $98m issue finalised
      62 1 LONDON, Wed. The Long Term Credit Bank of Japan's US$4O million (5598.4 million) floating rate issue has been finalised with a pricing at par, First Boston Europe said as lead manager. The Issue carries an Interest rate 1/4 per cent above London Interbank offered rates with a
      62 words
    • Article
      Alaska oil will flow again
      65 1 ANCHORAGE, Wed. The operator of the Alaska Oil Pipeline has brought In the equipment needed to bypass Its burnt-out pump station number eight and to pump oil at the rate of 800,000 barrels a day, the company said today. A spokesman for Alyeska Pipeline Service
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    • Article
      Lock icon Passengers stranded
      66 1 AP PERTH, Wed. Nearly 500 passengers of two liners were stranded today because the Port of Fremantle was crippled by a strike. The cruise ship, Kota Ball, was forced to anchor in Gage Roads, with 206 passengers, who planned to land at Fremantle, and Kota Singapore with 280
      AP  -  66 words
    • Article
      Lock icon Dow Jones
      82 1 UPI NEW YORK, Thurs. Stocks headed lower early today In moderately active trading as Investors remained concerned about predictions the economy would slow down later this year after registering stronger-than-expected first-half gains. The Dow Jones Industrial average, a 2.12-polnt loser yesterday, was off 1.87 points to 901.54 shortly
      UPI  -  82 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      187 1 Rites Most active FUMO 145 19 BfUya 474,000 B Ray a 169 17 Pacific Dev 381,000 Loytape 103 16 Leoaf Huat 230,000 ST P 1*75 550 15 Semb Shipyard 160.000 Pacific Dev 239 151 13 Total Turnover: 4.06 M Semb Shipyard 11 Total Value: S6.87 M Perlia
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    • Article
      In Kuala Lumpur
      107 1 Rises Most active S. Merlin 1.20 +.17 M'slan weaving 1,302,000 1.67 +.14 Pacific Dev 904,000 B. Raya Fusan 700,000 1.45 1.01 3.10 .13 +.11 .10 Bandar Raya Public Bank 321.000 Loytape Rahman Hyd. P. Carbide Total Turnover: 5.72M 1.03 .00 Total Value: MS 10.14M' 8el. Prop. P
      107 words
  • Article
    MAS forecasts 6-8 pc growth
    874 1  -  SERIOUS RECESSION AVOIDED By SOH TIANG KENG THE SINGAPORE economy can achieve a real growth rate of between six and eight per cent In the next few years. This Is the confident prediction of the Monetary Authority of Singapore which notes that the economy has
    874 words
  • Article
    UK restricts Japanese cars
    128 1 LONDON, Wed. Japanese car companies have been asked'to cut back the number of commercial vehicles they export to Britain, the Society of Motor Manufacturers and Traders (SMMT) revealed today. A spokesman for SMMT said a letter suggesting their voluntary shipment restraint had been sent to the
    128 words
  • Article
    S'pore's exports rise
    122 1 THE United States and the European Common Market exerted the largest Influence on the recovery of Singapore's exports last year, according to the Monetary Authority of Singapore. Last year, Singapore's total exports jumped by 27.5 per cent to $16.3 billion against a decline of 9.9 per cent
    122 words
  • Article
    Lock icon No reflation plan for West Germany
    700 1 Reuter BONN, Wed. Economics Minister Hans Frlderlchs said West Germany's real growth rate In the first half of 1977 was around four per cent, "not good but satisfactory," and voiced concern about recent 111 feeling between trade unions and employees. However, he told Reuter
    Reuter  -  700 words
  • Article
    Opec stand on bid to freeze price
    489 1 BTOCKHOLM, Wed. Radical states within the Organisation of Petroleum Exporting Countries (Opec) said today they would resist any attempts by Saudi Arabia and Iran to freeze the price of oil in 1978 at current levels. Sheikh Ahmed Zakl Yamanl of Saudi Arabia, speaking
    489 words
  • Article
    Lock icon Bases for oil firms
    64 1 Reuter MANILA, Wed. President Ferdinand Marcos has ordered the government's Philippines National Oil Corp, to set up special bonded warehouse bases to facilitate oil companies in their onshore and offshore exploration, the presidential palace said. The corporation was tokl to form bases that would channel equipment
    Reuter  -  64 words
  • Article
    Claim by URA holds up Wei Giap auction
    267 1 THE AUCTION Wei Giap Construction'* um(i at it* various worksites was temporarily suspended by the High Court yesterday following a claim oa the contractor's building equipment by the Urban Redevelopment Authority. The auction, an attempt to ncew debts by means of sale
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  • Article
    POSB contract
    41 1 THE Post Office Savings Bank (P08B) Is signing a multi-million dollar contract today with International Business Machines (IBM) for a number of terminals for its branches. The POSB has 64 branches, 56 of which are sited in post offices.
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  • Article
    Double tax pact swings in KL's favour
    478 1 A CLAUSE In the double taxation agreement between Malaysia and the United Kingdom Is helping Malaysia gain extremely favourable terms for loans floated In the Eurodollar mbrket. Under the terms of the agreement, a company resident In Britain Is allowed to claim a
    478 words
  • Article
    Lock icon End of trade talks
    169 1 Reuter BANGKOK, Wed. The eighth private sector level meeting of Thai-Japan Trade Cooperation Committee ended here today with the Thai delegation expressing disappointment over this year's export targets of Thai goods to Japan. Thai delegation leader Ob Vasuratna said they agreed U*****.5 million (551.634 million) worth
    Reuter  -  169 words
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      3 1 SEE PAGE 2
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  • OVERSEAS
    • Article
      Lock icon Courts favour the Grunwick workers
      139 2 Reuter LONDON, Wed. Britain's Lord Chief Justice yesterday came down on the side of workers who for the past 11 months have been attempting to get a North London factory to recognise trade union membership. Over 300 trades unionists have been arrested in recent weeks
      Reuter  -  139 words
    • Article
      Lock icon CIA's Air Asia sold for $4.7 m
      159 2 AFP WASHINGTON, Wed. The United States Central Intelligence Agency (CIA) sold Air Asia, one of Its 'front' companies which also provided its agents with transport, for US$l.9 million (554.7 million) cash in 1975, A US congressman disclosed today. E-Systems Inc of Dallas bought
      AFP  -  159 words
    • Article, Illustration
      West Germany has lowest inflation, unemployment rate
      438 2 BONN, Wed. West Germany has the lowest rates of inflation and of unemployment of any large industrial country in Europe or North America, the Ministry of Economics reported yesterday. The Ministry issued the figures on the eve of Chancellor Helmut Schmidt's talks In
      438 words
    • Article
      Lock icon French industry faces financing problems
      190 2 Reuter PARIS, Wed. Credit controls are proving a severe constraint on French industry, the employers' federation (Patronat) said. Its economic review noted some companies are prepared to accept higher indebtedness in spite of the uncertain economic outlook but finding finance is proving a serious difficulty.
      Reuter  -  190 words
    • Article
      Lock icon ' Short-term rates will move up'
      203 2 Short-term rates will move up' Reuter NEW YORK, Wed. US short-term interest rates will rise slightly this year, more the result of monetary policy than loan demand. Bank of America senior vice president Jim Drumwright said. He told a press lunch that although he hopes loan demand will rise, large
      Reuter  -  203 words
    • Article
      Lock icon ILO: EEC to seek reversal of US plans
      347 2 AFP NYT BRUSSELS, Wed. The European Economic Community will seek to dissuade the United States from withdrawing from the International Labour Organisation (ILO) which It plans to do next November, Belgian sources said today. They said foreign ministers of the Nine agreed
      AFP; NYT  -  347 words
    • Article
      Lock icon Alyeska says main line undamaged
      219 2 UPI ANCHORAGE (Alaska). Wed. The Alyeska Pipeline Service Co. yesterday announced that the main Alaska oil pipeline was undamaged by last Friday's explosion at a pump station, and oil can begin flowing again In several days. However, the line will not be restarted "until we
      UPI  -  219 words
    • Article
      Lock icon Effect of new VAT on Seoul price index
      274 2 UPI AP SEOUL, Wed. South Korea's wholesale price index went up bv 0.1 per cent after a new value-added tax took effect on July 1, government statistics showed today. The government Economic Planning Board released a survey of wholesale prices covering a
      UPI; AP  -  274 words
    • Article
      Lock icon Oil output growth dips
      172 2 Reuter PEKING, Wed. China's growth rate in oil production fell again In the first six months of this year, It was revealed today. The New China Agency reported crude oil output was only 10 per cent higher in January to June this year compared with the
      Reuter  -  172 words
    • Article
      Lock icon Hongkong export opportunities
      99 2 AFP LONDON, Wed. Hongkong will continue to provide opportunities for ''profitable" export business In a market where British quality and design are highly regarded, the Midland Bank says in its latest survey on overseas trade. "The economy of Hongkong is based largely on the export of goods
      AFP  -  99 words
    • Article
      Lock icon Potential in US crude, gas deposits
      175 2 Reuter BOSTON, Wed. The United States has huge reserves of oil and natural gas deposits that could be discovered and tapped economically, a US interior department official said today. Mr. V.E. McKelvey, director of the US geological survey, said In a prepared address to
      Reuter  -  175 words
    • Article
      Lock icon A global agency for energy
      150 2 AP STOCKHOLM, Wed. Sweden's Prime Minister yesterday proposed the development of a new United Nations agency for global energy consultations and talks between oil producers and consumers. Premier Thorbjorn Falldln made the suggestion at a banquet. He hosted the government banquet for the ministers of
      AP  -  150 words
    • Article
      Lock icon Higher deficits in 1978
      95 2 Reuter WASHINGTON. Wed". Mr. William Dale, deputy managing director of the International Monetary Fund, said the non-oil less developed countries (ace a higher current account deficit in 1978 than the U5537.5 billion (SS92 billion) likely this year. In remarks prepared for a speech to the UN
      Reuter  -  95 words
    • Article
      Lock icon Oil experts for Iraq
      75 2 AFP NEW DELHI, ked. Indian experts are to undertake some oil drilling work in Iraq for a payment of UBs2 million (Sss million) under an agreement signed recently, the Minister for Petroleum and Chemicals, Mr. H.N. Bahuguna, told Parliament today. Mr. Bahuguna told the Lower House
      AFP  -  75 words
    • Article
      Lock icon GDP rise of 3.5 pc expected in EEC nations
      180 2 Reuter LUXEMBOURG, Wed. Common market countries are expected to show an overall gross domestic product growth rate of about 3.5 per cent next year based on current economic policies, EEC Commission President Roy Jenkins said yesterday. This compared with the revised
      Reuter  -  180 words
    • Article
      Lock icon Caution on excess output of steel
      189 2 AFP ROME. Wed. A technical committee from the Industrial Recovery Institute (IRI) today advised against Increasing Italy's capacity to produce steel. It gave as the reason the crisis in the world Iron and steel Industry. The report was eagerly awaited as It concerned two
      AFP  -  189 words
    • Article
      Lock icon Survey on US foreign lending
      82 2 Reuter WASHINGTON, Wed. The Treasury Department's comptroller of the currency said federal bank regulators have initiated a survey of foreign loans by US banks. The comptroller said the survey will cover national and insured state-char-tered non-member banks with assets of over US$3OO million (SS73B million).
      Reuter  -  82 words
    • Article
      Lock icon Higher reserves
      43 2 Reuter MANILA, Wed. The Philippines' international reserves as a June 23 rose 3.7 per cent from a month earlier to US$l.54 billion (553.79 billion) and were 30.7 per cent higher than the year earlier's $1.18 billion, the Central Bank said. Reuter.
      Reuter  -  43 words
    • Article
      Lock icon Why Spain had to devalue peseta
      458 2 Reuter MADRID, Wed. Spain spent USSI billion (552.46 billion) of precious foreign currency reserves In the past few weeks trying to keep the peseta at an artificially high level, Bank of Spain Governor Jose Maria Lopez De Letona said last night. Explaining yesterday's decision
      Reuter  -  458 words
    • Article
      Lock icon US will not support its dollar
      361 2 Reuter WASHINGTON, Wed. US monetary authorities will not support the dollar In foreign exchange markets. At the same time, the administration is happy with the dollar's recent fall in value against the stronger currencies. The dollar's drop against the mark, yen and other strong
      Reuter  -  361 words
    • Article
      Lock icon More unemployed
      48 2 Reuter OTTAWA, Wed. Canada's unemployment rate rose to a seasonally adJusted eight per cent last month from 7.9 per cent In May, Statistics Canada said. However, the actual number of people out of work dropped for the second successive month to 814,000 from 824,000 In May.
      Reuter  -  48 words
    • Article
      Lock icon Suggestion on US govt access to citizens' privacy
      291 2 AP WASHINGTON, Wed. The US government would need a court order to obtain Information about a citizen from the files of banks, credit agencies or insurance companies of Congress adopts the recommendation of federal privacy commission. In most cases, the individual would
      AP  -  291 words
    • Article
      Lock icon Bolivar rate stays put
      58 2 Reuter MARACAY (Venezuela), Wed. Venezuelan President Carlos Andres Perez said he discounted local press reports that the country would have to devalue the bolivar and introduce foreign exchange controls. He told the annual meeting of the FedeCamaras Business Federation, Venezuela with foreign reserves of US$9.2B billion
      Reuter  -  58 words
    • Article
      Lock icon Water flow stopped
      64 2 Reuter HONGKONG, Wed. The flow of water from China, which supplies a quarter of Hongkong's needs, is to stop for two months' regular maintenance work but this will not mean tighter rationing here, a public works spokesman said today. With the parched British colony's reservoirs less than
      Reuter  -  64 words
    • Article
      Lock icon Wage rise
      29 2 Reuter BUENOS AIRES, Wed. The Government has ordered a blanket wage Increase of 16 per cent effective from July 1, the Economy Ministry said here today. Reuter.
      Reuter  -  29 words
    • Article, Illustration
      Lock icon Carter and labour strike accord on wage rise
      704 3 NYT WASHINGTON, Wed. The Carter Administration and organised labour reached a compromise agreement yesterday to support a 35-cent-an-hour increase in the minimum wage this year, raising the minimum to U552.65 (556.52). At his news conference yesterday afternoon, Mr. Carter said that while
      NYT  -  704 words
    • Article
      Lock icon US lagging behind in capital investment
      303 3 AP NEW YORK. Wed. The business roundtable, an influential group of business leaders, said yesterday it believes the United States is seriously lagging in capital investments and suggested major tax revisions as a remedy. The organisation released nine position papers on domestic and foreign
      AP  -  303 words
    • Article
      Lock icon More visit India
      61 3 AFP NEW DELHI, Wed. India achieved a 14.8 per cent growth In tourist arrivals In 1976, according to the 1976- i 77 annual report of the Ministry of Tourism and i Civil Aviation. During the period, the report said about 533,000 tourists visited this country (excluding nationals
      AFP  -  61 words
    • Article
      Lock icon ECONOMIC TRENDS
      68 3 Reuter WASHINGTON, Wed. President Carter •aid he feels good about current trends, although he conceded a lot of uncertainty remains. Mr. Carter told a prees conference that he is impreeeed with long-term economic projections by his economic advisors. He said the unemployment situation continuee to improve and deepite
      Reuter  -  68 words
    • Article
      Lock icon Retail prices up 11pc in first quarter: IMF
      379 3 AFP AP WASHINGTON, Wed. Retail prices in the noncommunist world were an average 11.3 per cent up in the first quarter of this year compared with a year before, the International Monetary Fund (IMF) reported here. It also noted a steadier trend
      AFP; AP  -  379 words
    • Article
      Lock icon ' Soybean prices on the drop'
      320 3 Soybean prices on the drop' Reuter WASHINGTON, Wed. Agriculture Secretary Bob Bergland said US soybean prices are on the way down to more resonable levels and he expressed hope that beans would soon be in the US$4 to $6 a bushel range (559.84 to $14.76). He told a meeting of
      Reuter  -  320 words
    • Article
      Lock icon S. Africa shopping for loans in Europe
      246 3 Reuter BONN. Wed. South African Finance Minister, Mr. Owen Horwood had talks with his West German counterpart, Mr. Hans Apel here yesterday and conferred with leading banks, the South African Embassy said. A spokesman said he thought it likely that Mr. Horwood's discussions
      Reuter  -  246 words
    • Article
      Lock icon EEC to draw up sanction list
      313 3 UPL AP BRUSSELS, Wed. Foreign ministers of the European Common Market instructed experts yesterday to draw up a list of possible economic sanctions against South Africa, Belgian Foreign Minister Henri Slmonet said. At their regular quarterly meeting to coordinate International policy of the nine
      UPL; AP  -  313 words
    • Article
      Lock icon UK unions consider cooperation plea
      353 3 Reuter LONDON, Wad. British trade union leaders were today considering a government plea for cooperation to avoid a pay explosion when the current agreement between them on wage restraint ends on July 31. Senior ministers headed by Chancellor of the Exchequer Denis Healey yesterday put
      Reuter  -  353 words
    • Article
      Lock icon Farmers expect bumper corn harvest
      214 3 AP WASHINGTON, Wed. U8 farmers may harvest another record crop of corn this fall which could help decrease consumer food prices through most of 1978, the US Agriculture Department said yesterday. The department's crop reporting board In Its first official corn estimate this year, put
      AP  -  214 words
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      52 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on July 13 at Singapore airport. Maximum Temperature 30.5° C Associated Humidity 68 Minimum Temperature 24.7.° C Associated Humidity 98 Hours of Sunshine 2.15 Rainfall in Millimetres Trace Total Rainfall for the Month 51.0 Total Rainy Days for the
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      305 2 RADIO TV SINGAPORE 5 3.00 PM Opening announcements followed by Housewives' Matinee Romance To Remember Pt. 1 of a Mandarin film (Repeat) 3.45 General Hospital 4.30 Intermission 6.00 Opening announcements followed by Lassie Babes In The Woods 6.30 News in brief 0 6.35 Warna-Warni in Malay (Repeat) 0 7.05 My
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      Page 3 Advertisements Column 1
      1588 3 wilt I y i 7 i r I lI IH11 .3e is h' 1 M ii U i LIIIII I h I I i BALANCE SHEET AS AT 31ST DECEMBER 1976 LiAßiLmn BANKS OF ISSUE, BANKS A NON-BANKING ESTABLIBHMEV AUTHORIZED TO DEAL ON THE MONETARY MARKET: a (Sight deposits b)
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Assessment of Hutchison, HK Dock merger
      383 5 ASIAN COMPANIES Reuter HONGKONG, Wed. Stockbrokers Hoare Govett (Far East) said they estimate that fair terms for the merger of Hutchison International with Hongkong and Whampoa Dock would be an effective share exchange scheme on the basis of three Hutchison shares for one HK
      Reuter  -  383 words
    • Article
      Lock icon HK Land new residential development scheme
      180 5 Reuter HONGKONG, Wed. Hongkong Land said It Is planning a luxury residential development with a projected cost of some HK$lOO million in the May Road area of Hongkong island. The development, comprising three towers with a maximum height of 34 storeys involves a total
      Reuter  -  180 words
    • Article
      Lock icon Toray plans farther production cutback
      176 5 AFP TOKYO, Wed. Japan s largest synthetic fibre maker, Toray Industries, will cut polyester filament production to some 30 per cent below capacity next month Toray's polyester filament production, hard hit by a slump in demand both at home and abroad, is already running about
      AFP  -  176 words
    • Article
      HSBC Edinburgh branch
      113 5 HONGKONG, Wed. The Hongkong and Shanghai Banking Corporation has opened a branch at Edinburgh, Scotland. The bank said the decision to open the branch, which was officially opened by the Lord Provost of Edinburgh on Monday, was "a logical step in the group's programme for planned expansion
      113 words
    • Article
      Lock icon Swire Pacific
      58 5 Reuter HONGKONG, Wed. Swire Pacific said it Is in the final stages of concluding an agreement to purchase Coca Cola Bottling franchises in Salt Lake City, Utah. It gave no further details. Swire Pacific's Swire Bottlers subsidiary has an exclusive franchise to manufacture and market coca cola and
      Reuter  -  58 words
    • Article
      Endeavour
      49 5 MELBOURNE, Wed. Endeavour Oil shareholders subscribed to it 23 million of the 9.01 million share offered Jn its three-for-ten discount issue, the company said in its report for the quarter to end-June. The issue lifted paid-up capital to $34.20 million fully paid 50 cent shares from $30.03 million.
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    • Article
      Rediffusion expects slight improvement
      202 5 UK COMPANIES SIR JOHN Spencer Wills, chairman of Rediffusion, says in his annual statement that he cannot forecast, overall, more than a modest Improvement in profit for 1977 to 1978. He believes that the company's UK. operations will achieve substantially better profit In the current year,
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    • Article
      Lock icon Banks second quarter will improve sharply
      396 5 NORTH AMERICAN COMPANIES Reuter EARNINGS ofihe major US banks In the second quarter of 1977 may show only a modest Increase over the first quarter, but should reflect a marked Improvement on the 1976 second quarter, analysts here believe. The banks, which will head
      Reuter  -  396 words
    • Article
      Exxon, Mobil withdraw from Seadock project
      414 5 EXXON, the world's largest oil company and the largest shareholder In the first proposed superport In U8 waters, has withdrawn from the porject, leaving Its outcome In Jeopardy. The project called Seadock scheduled to be built 40 km out of the Qulf of Mexico
      414 words
    • Article
      Lock icon UM & M BANKRUPTCY PETITION APPROVED
      461 5 UM M BANKRUPTCY PETITION APPROVED NYT IN THE LAROEBT bankruptcy action of the year, the losses and the phasing out of its Robert Hall clothes chain forced United Merchants and Manufacturers, to file for a voluntary bankruptcy petition, listing debts of US$3Bl million. It was the largest business Insolvency since
      NYT  -  461 words
    • Article
      John Waddington rights issue
      201 5 TO HELP finance parts of John Waddington where the return is promising and with the intention of continued investment to maintain profitability the directors announce a rights issue on the basis of one-for-flve at 130p to raise £1.3 m. They explain that they now have several
      201 words
    • Article
      Lock icon IRAN MOVING INTO JOINT VENTURES
      595 5 NYT TEHERAN, Wed. In Joint ventures around the world Iran Is popping up In an automotive-parts factory In Brazil, a new port In Senegal, a fertiliser plant In India, a textile mill In Egypt, a slaughter house In Australia. More are on the way. In
      NYT  -  595 words
    • Article
      Phoenix profit up
      97 5 GROUP net profit at Phoenix Assurance rose 13.5 per cent to £12.6 million test year from £11.1 million in 1975 The higher earnings were boosted by a 32.5 per cent increase In Investment income, which totalled £32.2 million compared with £24.3 million. The company's life business continued
      97 words
    • Article
      Lock icon US Steel loses bid
      209 5 AP STEEL has lost a bid In US Customs Court here for a summary Judgment In a major case Involving steel shipments from Western Europe, Treasury officials said. US Steel has asked the court to overturn an earlier Treasury ruling which held that certain tax rebates
      AP  -  209 words
    • Article
      Lock icon Merrill Lynch operating expenses increase
      156 5 Reuter MERRILL LYNCH AND CO., which reported a 15J7 per cent decline In Its second quarter earnings, said Its operating expenses in the second quarter rose 19.7 per cent to U*****.1 million, most of which was due to a rise In Interest expense and start-up
      Reuter  -  156 words
    • Article
      Pepsico moves higher
      84 5 PEPSICO reported second quarter earnings of 59 cents a share on sales of U*****.5 million. This compared with 49 cents a share on sales of $657 million for last year's second quarter. Net earnings for the period this year were $43.7 million against $36 million in 1976.
      84 words
    • Article
      Phelps Dodge
      52 5 PHELPS DODGE and striking copper workers will probably meet again on Thursday to settle the noneconomic issues still on the bargaining table, the company assistant vlce- president Mr. M.P. Scanlon said. He said that the firm did not put a new wage offer on the table in talks
      52 words
    • Article
      Lock icon Asarco upgrades offer
      78 5 Reuter ASARCO said it upgraded its wage offer by about 10 US cents In talks aimed at ending the 12-day old strike at its domestic copperproducing facilities. Mr. Douglas Soutar, vice president of employee relations, said the firm is now offering a 60-cent wage package. Its last
      Reuter  -  78 words
    • Article
      Lock icon French Govt allows 19.7 pc rise
      164 5 Reuter PARIS, Wed. Investments by nationalised industries will be allowed to rise 19.7 per cent to 32.16 billion francs (26.87 billion) In the French 1978 budget, the Finance Ministry said. These Investments concern only the energy and transport sectors, which will receive respectively .21.71
      Reuter  -  164 words
    • Article
      Lock icon Vietnam order
      69 5 Reuter ESSEN, Wed. Fried Krupp said Polyslus, SA a French unit of group subsidiary Polyslus Ag has a 255 million francs order from Techno Import of Hanoi to supply a rotary kiln to a Vietnamese cement works. The kiln, due to start production in the first half of
      Reuter  -  69 words
    • Article
      Lock icon Austrian bonds
      70 5 Reuter NEW YORK, Wed. A syndicate headed by Morgan Stanley and Co tentatively priced US$lOO million of triple-A rated Republic of Austria bonds for offering today. The issue comprises two issues of $50 million, each due in 1984 and 1992. The 1984 bonds were priced at par with
      Reuter  -  70 words
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  • Article
    Share Information Service
    2322 6 1*77 High Lew c-w La* Sato +mQr*» 4hr Dfrr e*t Gf* N* r/K V«l Day (H9) ffigh Uv SECTION ONE INDUSTRIALS 154 204 90 215 m 198* 183 219 392 171 136 172 58 212 57 155 152 182 350 145 Acma Alcorn Allied Choc Bata Ben
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  • Article
    Transactions in Singapore
    1417 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 lota of 1000 units Sinless otherwlee specified All Time Settlement Contracts are quoted after the word "Sett." dig Board
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  • Article
    In Kuala Lumpur
    1561 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 INOUITMAU AMI (1.4H), XD. AJtmimU (1MB). AMM (1KB) (1) 1.84. A. CAM.
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  • Article
    Stock options
    56 6 STRIKING prioaa of tka alack optioaa officially liatad oa tka Stack Exckaage of Singapore, the perteda. bid and offer pricaa and buainaaa dona yaatarday, with tha aumber of eptieaa traded ahewa in hrackata. D.8.8. (Dec $3.«0> (0.20B). Incbcape (Sept $2.40) (0.14B) (2) 0.13, (1) 0.14. U.S. (Dec $1.70)
    56 words
  • Article
    Unit trusts
    140 6 INCOME BOND UNIT SINGAPORE UNIT TRUST (Camat p (toes) far My 14) INCOME BOND 1 06 1.1S The Commerce i.7o i.ao MARA BUMIPUTRA FUND The Saving Fund 0.97 1.08 Iriw far My 8'pore Prog Fund 0.85 O.tO First Bumlputra 2 12 2.17 S'pore Security Second Bumlputra 1.67 1.92
    140 words
  • Article
    CORPORATE BONDS
    132 6 B O T 8 1/2% IMI (100,000) (102 SB 103"4S) B O T 7 1/8% 1884 (100,000) (MSB 99*8) Credit Lyon nail Floating IMI (100,000) (MSB 99*48) DBS Converts C 1/2% IMI (100.000) (MSB MSB) D B 8 8 1/2% 1882 (100,000) (101WB 102S*S) E I B 9%
    132 words
  • Article
    GOVERNMENT BONDS
    135 6 Rep Spore D Mark 7% IM2 (100,000) (100 SB 101*8) Rep Spore D Mark 8 1/2% IMB (100.000) (M*B 99*8) Rep Spare 7 3/4% I*B7 (loo.ooo) (ioosb roiss) 5 1/4% 16/7/78 (250,000) (101 508 101.578) 4 3/4% 1/5/7* (259,000) (100.858 100.908) 5 1/4% 18/18/78 (250,000) (101.85B) 5 3/4%
    135 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      176 6 Confront Singapore's decision makers in Business limes For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who
      176 words
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  • Article, Illustration
    SES RULES STEADY
    605 7 BKLBCRD property skaree featured buTlisbly mMtatoed buyiag support la ffsasrally erratic iisiiiißi sa the Stock of Siagapore yeoterday. In particular, Baadar Bay a aad Pacific Deve* lepmeat were actively aad eccountod for a combined turnover ef saore thaa 850,066 uaits, rsprsssallag 21 per eeat ef jreja— of
    605 words
  • Article
    FIRM TREND ON KLSE
    417 7 RENEWED buying interest pushed prices considerably higher in another active session on the Kuala Lumpur Stock Exchange yesterday. The firm conditions, fueled once again by the strong speculative support for lower liners, were well maintained for the greater part of the day. Traders appeared to have
    417 words
  • Article
    Hongkong
    315 7 HONOKONO: The markst cioHd aUutjf to quMt trading, dsahrs mUd so WiSiiHijf. •.MpJnt%roS 481.74. Mlm dassd unchangsd at y«to ecthw trading, while Mlfr&sagkaag laad! twin ParMh. Wbssls* and Mm IhriiiiM fin J itody. CUMbgkwßiwflnMßti to 82.86. Turnoftr on the four exchanges $16.32 mUboo compared with 117.il million on Tuesday
    315 words
  • Article
    Tokyo
    491 7 TOKYO: The market closed lower on Wednesday, with liquidations in export-oriented blue chips more than offsetting selective buying in large-capital and speculative* issues, dealers said. The Dow Jones Average lost 3.41 to c)OM at 5,064.54 with volume 380 million shares. The New index closed at 379.14, down 0.55. Export-oriented
    491 words
  • Article
    Sydney
    377 7 SYDNEY: The market wax mixed on Wednesday, with Interest centring on coals, uraniums and oils, dealers said. The Sydney All-Ordinaries index row 0.41 point to close at 453.88. BHP rose to 96.1t at the opening on the possibility of an oil price Increase but later came back to cloee
    377 words
  • Article
    Manila
    107 7 MANILA: The* market closed easier on Wednesday, with mining and oil average* declining though commercials advanced fractionally, dealers said. Turnover was lower at 4.2S million pesos compared to Tuesday's 4.7® million. Atlas dropped six points, and PUlsa and Lspaats one each, with the declining copper price abroad pulling down
    107 words
  • Article
    Bangkok
    83 7 Asia Fibre in -1 Bangkok Bank 333 *4 Bangkok Invest an -1 Bangkok-Metro-politan Bank in 5 BerU Jucker S14 •I Charooof Thai Wire 174 ♦1 DuattThani F UJH Mft Uli First Trust Indo-Thal ins unch j3>»:::::: UM as unch -1 Jalaprathan Cement 134 -1 unaiuu Lee Kwanc Mln Metal
    83 words
  • Article
    Amsterdam
    277 7 AMSTERDAM: The market closed generally firmer on Tuesday with gains headed by Akse ahd Philips In Dutcn Internationals whlls Hssgsveas edged lower. Elsewhere, firmer Issues Included Van Oi us ins and ELM, which were 7.50 and 4.06 rullders higher respectively. Bels and Pakhar were among lower Issues. Btate loans
    277 words
  • Article
    Brussels
    168 7 BRUBSELS: Most shares closed lover in quiet trading and price movements were small, bourse sources said on Tuesday. •tflsa, Tabaeeflaa and Ctattri rose and FN vas higher after announcing a probable dividend rise, lsssi i», Tractiea, Viellle Meatagae, Clabac* and Ti i i 1 il all fell UK and
    168 words
  • Article
    Frankfurt
    269 7 FRANKFURT: Shares dosed mixed with a hlghsr Mas, boons souress aM on Tussday. 81mm to sisctricsli galnsd 1.76 marks whlls IMmta laak and Dm tow Baak both roes 1.66 marks. In« stssls Lesafcasrwarfcs aad Thresaa both roee 1.96 marks wMs sngineerlngs were mined. Veba. whose subsidiary Oslssabsrg expects 1677
    269 words
  • Article
    Milan
    128 7 MILAN: The market continued lower In lacklustre trading on Tuesday, dealer* said flastisi posted a slight gain In an otherwise generally depressed list. Sharing the downtrend were Aaic. Ass O—sralll. Bastag»l. Csatrate. Plat, both PtndU and OUvsttfa. MisiiOiis and Ma Vlsessa. JULY U Anlc Assoc Oen Lira IM -4
    128 words
  • Article
    Paris
    285 7 PARIS: The market lost ground following the easier franc, the rail on Wall Street and higher at to day money rates, dealers d. Foreign sellers pushed prices down in a thin market on Tuesday. Foods, electricals and engineerings were most affected Golds and foreign oils advanced, Oermans were mixed,
    285 words
  • Article
    Zurich
    257 7 ZURICH: The market closed generally steady In very quiet activity, dealers said on Tues-"Y-du, were barely chanced, while Insurances were narrowly mixed. In steady flnandals, Bally Initially lost some ground, but ropovered to close practically unchanged In quiet business. Except (or firmer JelmeU. movements among Industrials were limited. Dollar
    257 words
  • Article
    Jo'burg
    315 7 JOHANNESBURG: Oold shares were firmer In active trading on U8 demand and the higher bullion price, dealers said on Tuesday. Mining flnancials moved ahead In line with producers. Coppers were a shade easier, and platinums slightly harder. De Bean roee 10 cents on New York demand. Industrials were harder
    315 words
  • Article
    Toronto
    314 7 TORONTO: Share prices were broadly higher at tne close of active trading despite the lover trend In Nev York on Tuesday. The composite Index waa up more than three polnU and advance* outpaced declines 265 to 180. All but two of the 14 sublndlce* were higher as pipelines and
    314 words
  • Article
    New York
    1153 7 NEW YORK: Stock prices slipped further In fairly active trading, reflecting waning Investor confidence In the longer-term strength of the economy dealers said on TuesCarter's comments about the economy at a news conference today MM to lay theee tan to root, ourfcot analysts said. Mr. Outer toM reporteri
    1,153 words
  • Article
    Indices
    59 7 FINANCIAL TIME8 INDUSTRIALS Tuesday 446.5 Monday 439.6 Week Ago 481.0 DOW JONES AVERAGE INDUSTRIALS Tuesday 903.41 Monday 906.53 Week Ago 913.86 LONDON DOLLAR PREMIUM Tuesday 110* to 111 Monday Ill* to 111* H.H. HANG 8ENG Tuesday 436.68 Monday 436.64 Week Ago 436.48 SYDNEY INDUSTRIALS Tuesday 374.94 Monday 374.92 Week
    59 words
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      218 7 BUSINESS TIMES Airline Directory 110-112 Skew Contra, Orchard (Tafc >77.111) Km 4, Shuapara 9 |A) B «w riWf* ivwniM nvwv "ilimmM Air Intf. IMi Flmt, UK (T«l: 2204.277) 1. (Tafc 91UM) AJfcaOa (Mr'* WmU AMm 1109/1110 far Im» Ifcipplap falim 9 (Tafc 2M&2MD 10* Haar.SlA 77 "IT 11 ii ft«
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      525 8 PRICES were marked up one cent at the outset In the Singapore rubber market yesterday, following Tuesday's after-hours rise here and moderate followthrough In London, dealers said. Thereafter, however, trading was thin and slow, with values tending to drift lower on profit-taking and cheaper offering,
      525 words
    • Article
      R.A.S. PRICES
      304 8 Int. 1 R.S.8. prompt f.o.b. Int. 1 R 8.8. August Int. 1 R.8.8. September Int. 2 R.8.8. UK/Cont Int. 3R S.S UK/Cont. Int. 4 R.8.8. UK/Cont Int. 5 R.8.8. UK/Cont. Noon (par kilo) Buyers Sellers 190.00 191 OON 191. SO 192.00 193.25 193.50 188.75 189.75N 187.75 188.75N 185.00
      304 words
    • Article
      SSR AND SMR
      82 8 R.A.8. A (Cm MgMt natMtk) (iw!t Hjfth) "C i bin top»k«> is. rmkgi 3SR20 (l-ton Pallet) 191.00 192.00N 192.00 193.00N SSRSO w d w i n (l-ton Pallet) 199.90 199.00N 199.00 190.00M SMR5CV (l-too Pallet) 213.75 215.75N 213.75 215.75N 8MR5L (l-ton Pallet) ail. 29 213.25N 211.25 213.25N
      82 words
    • Article
      Closing prices
      31 8 Rubber: July IS Singapore: August 190.25 eta (down 8.75 et.) Malaysia: August 181 M eta (down I.M ct) Tin: <1,515 (down 845) Official offering: 190 tonnes (down 25 tonnes)
      31 words
    • Article
      Produce exchange
      427 8 BLACK pepper prices eased slightly In a generally quiet Singapore produce market yesterday. Trading was minimal and confined mainly to consumer accounts. Going by the nominal prices given by the Singapore Chinese Produce Exchange, all Mack grades moved 82.50 lower. White peppers were quoted unchanged. According to brokers,
      427 words
    • Article
      Duty rates
      63 8 THE Malaysian Minister of Finance has fixed the following rates for the period from July 14 until further notice: Rubber: 86 cents a lb Copra: $872.00 a ton Palm kernel: $235.25 a ton The rates of duties payable are: Rubber: 8H cents a lb Total: 14Vfc cents Surcharge:
      63 words
    • Article
      Hongkong comex
      290 8 HONGKONG, Wed. The cotton futures market closed slightly lower with losses ranging from 0.25 to 0.55 U8 cents, following the overnight decline In New York, dealers said. The market opened slightly easier than held steady throughout the session In fairly quiet trading, with trading centring on March delivery,
      290 words
    • Article
      Palm oil
      47 8 C.I.F. Rotterdam. US doUut LONDON. Mr ton. MalajmaSHffabulk Au« fbtnutra Mfc uoq unq ounura sni July Auk Sept Oct Nl«irtan9«ftebulk Bterllng per ton ton ROTTERDAM: uacti «P«1 478pd 407.90 4t6pd unq »10pd SOOalr uoq. Sumatra July Zaire Self francs per kilo Mpd/rtr unq SOS.Malr unq
      47 words
    • Article
      Cocoa
      242 8 LONDON. Wed. Terminal cocoa closed the first call £18 up from last night (spot July at £3,325) to C 13.50 lower. The market traded at a new all-time high during the call In the spot July at £3,370 per tonne up £83 from yesterday and £402 from last Friday.
      242 words
    • Article
      Straits tin market
      212 8 THE Straits tin price in Penang yesterday was down 945 to 91.515 on an official offering down 25 tonnes to 190 tonnes. On Tuesday, tin on the day lost £75 for cash and £62 for Three Months standard while high grade fell by £75 and £72 respectively.
      212 words
    • Article
      Sugar
      201 8 LONDON, Wed. Terminal sugar was down at the first call by £1.20 (near August at £99.40 bid) to £3.00 per tonne although relatively well above yesterday's contract lows during and after the call on speculative shortcovering, dealers said. The London dally price for raw sugar was lower on tone
      201 words
    • Article
      Coffee
      399 8 LONDON. Wed. Coffee futures finned with gains of £42.50 (spot July) to £87.50 per tonne (November) during the opening call. Turnover totalled 4» lots. Nearby July subsequently eased around mid-day to show a gain of only £17.50 while outer positions lost about £5.00. Trade sources said the rise mainly
      399 words
    • Article
      Rice
      210 8 BANOKOK, Wed. Indicative prices quoted here were: (08 doUara par tonne fob basil 100 per cent lit claaa 308 1M per ont 2nd 2*7 100 par cent 3rd S3 I per earn 274 10 par cent 290 IS per cent 347 M per cent 244 39 per eent 239
      210 words
    • Article
      Soybeans
      110 8 CHICAQO, Wed. Soybean futures were mixed In early trading yesterday with the two nearby months down six to seven cents while other contracts showed gains of two to stt cents a bushel. Late session selling drove soybean futures lower as final losses ranged from 30 ft to 11 cents
      110 words
    • Article
      Wheat
      45 8 CHICAGO, Wed. Wheat futures held between one and two cents a bushel higher yesterday morning in quiet trading dominated primarily by locals. Wheat futures finished the afternoon three to one cent a bushel lower in a session ahrsd of the A 1977 production estimate.
      45 words
    • Article
      Copper
      414 8 LONDON, Wed. Copper wlrebars finished the morning with losses of £11 all round. Values were marked down at the start of the premarket following the weak New York close but the lower levels found some shortcovering on U8 account which took Three Months from £739 up to £745 per
      414 words
    • Article
      Lead
      134 8 LONDON, Wed. Lead In the morning gained mostly £1.50 per tonne. The market retained a basically steady tone on further covering which was felt to be against recent physical activity. In addlUon to some continental and West Asian demand, enquiry and business on East European account was also noted.
      134 words
    • Article
      Zinc
      75 8 LONDON, Wed. Zinc closed the morning £0.75 down for cash and £0.50 up for Three Months. The market was fairly subdued with modest two way business around previous closing ring levels. Sales were only 1,100 tonnes. On Tuesday afternoon, zinc finished £0.25 up for cash and £0.50 down for
      75 words
    • Article
      Gold
      376 8 GOLD roee sharply in the Singapore gold market yesterday when the kilo bar opened at 8111,400 compared to Tuesday's closing 8811.325. However, trading was thin and prices fluctuated widely In a range of 8811.375 to 8811,445. It cloeed at 8811,380 In an uncertain tone. The loco London market was
      376 words
    • Article
      Silver
      183 8 LONDON. Wed. Silver finished the morning with gains of 0.5 to 0.9 pence per troy ounce. After trading upto 267 pence for Three Months prices eased. Three Months finally changed hands at 266.1 pence. Turnover was 57 lots. Values steadied on the kerb aided by firmness in gold, trade
      183 words
  • MONEY AND EXCHANGES
    • Article
      Singapore
      491 8 SINGAPORE'S foreign exchange market yesterday saw heavy trading in the Deutschemark vis-a-vis the US dollar. The US unit fell against the German currency after a US administrative officer was quoted as saying that US monetary policies cannot be expected to prevent strong currencies from appreciating against the dollar. Opening
      491 words
    • Article
      Minimum lending rates
      50 8 acbc Pint Chicago €H AI|hmm Balk CH Citibank is Bangkok Baak 7 HSBC (H ButdTAMric* «H n..t gfcUu 7 Malayan w«»Hi. CH of Tikr* m Mitaia Baak (v, Ba*k Nagara Iadoaaata OCBC T OUB rfc■ I— Rank tu UCB 7 Oui Mukatlu Ik UMBO 7 DBS (JOB
      50 words
    • Article
      Asian $ rates
      134 8 Asian rates ASIAN currai rmtM uitck tsst Imth* t BUM BUM A.... SmUu 12 mtfti ncy dMKMtt Interbank moo Juhr 1J US Dviltr* (Spat) Ofhr BM 5 1/1 11/11 J M 1/4 > M I/J i M 5 M 1/1 1/4 1/1 t-M >1/4 *BM2I S T/l 1/1 I l/«
      134 words
    • Article
      Discount
      43 8 RANGE of price* offered by discount house* cm July 13 Overnight 1* to S* Cad deposit 3% r* r-*-i Buy MN 3-MonUi Treasury S 3-Month Bank MB* 4 3/14 41/16 3-Month CD 44/U 47/U 6-Month CD 411/U Source: National Discount Co. Ltd.
      43 words
    • Article
      Euro $ rates
      89 8 Euro rates LONDON. Wed. Eurodollar deposit dealing was quiet at the outset, dealers said A slight fall in the federal funds rate led to an easier trend In shorts. Near periods rates opened slightly lower because of the Friday dealing technicality and have shown little Change since. LONDON Xurodepoalta opening
      89 words
    • Article
      Treasury bills
      43 8 THK Monetary Authority of Singapore- invitee banks and discount houaea to under for a total of $25 million ftl-dajr Treasury MUs to be Issued from July It to July 22 Each tender must be for u amount not less than $250,000
      43 words
    • Article
      New York
      213 8 NEW YORK, Wed. The dollar slumped in heavy afternoon trading here yesterday to close slightly below overnight levels. The sudden fall, which erased earlier gains, was triggered by a report from Washington quoting senior Us administration sources that the country's monetary authorities will not support the dollar, dealers
      213 words
    • Article
      London
      178 8 LONDON, Wed. The US dollar fell sharply against the mark and the yen In nervous and active early trading, dealers said. It fell to 283.50/70 yen from 264.30/45 overnight In London and today's Tokyo close of 264.40, and 2.2760/70 marks from 2.2905/15 overnight. Dealers said the dollar's decline Is
      178 words
    • Article
      Tokyo
      108 8 TOKYO, Wed The dollar for overnight delivery closed at 264.40 yen In fairly active trading, up from an opening 263.80 and 263.45 at yesterday's close, dealers said. After Initial flrmess,, reflecting a yen fall overseas, the US currency moved above the 264 level as traders continued to buy forward
      108 words
    • Article
      Australia/NZ
      51 8 AUSTRALIA/NZ exchanges on July 13: Auatralia: Sterling 0.6*67/ 0.6467 US dollar 1.1160/ 1.1212 Ninety-day air mall buying rate*: Sterling 0.6753 US dollar 1.1516 Ninety-day forward buying rate*: Sterling 0.6671 U8 dollar 1.1147 New Zealand: Sterling 0.5660/ 0.5628 U8 doUar Q. 9761/ 0.6661 Ninety-day forward rate: Sterling 0.5671 US dollar
      51 words
    • Article
      Zurich
      42 8 ZURICH exchanges closing quotes on July 12: US 2.4171-4176 UK 4.1560-1560 Can 2.260-2640 W Oerm 166.52-60 Net!) 66.46-67 France 46.67-76 Brig 6.7a*-7»K Denn 46.26-32 Norw 46.73-77 Swed 56.26-32 Italy 0 2735-2737 Austria 14.67-66 Port 6.25-26 Spain 2.77-76 Arg 6.56-66 Japan O.OIK-*l%
      42 words
    • Article
      Frankfurt
      35 8 FRANKFURT exchanges closing quotes on July 12 U8 2.2676/63 Can 2.1620/50 UK 3 63/94 Netti 63.26/24 BWitt 04.66/74 Italy 2 508/503 Fiance 46.66/47.66 Japan 0.6666/75 Belg coin 6 42/43 Belg fin 6.41/42 Norw 43.26/36
      35 words
    • Article
      Hongkong
      145 8 HONGKONG, Wed. The US dollar fell sharply against the mark to be quoted at 2.2770/2780 In late trading after opening In line with the New York close at 2.2830/2840, dealers said. They reported heavy selling of the US unit for marks throughout the day with the trend accelerating as
      145 words
    • Article
      Eurobond prices
      122 8 LONDON, Wed. Straight Eurobonds continued quiet and were mixed where changed, dealers said. U8 dollar Issues tended to drift easier in places with investors still concerned over the weakness of the US dollar, dealers added. Oullder bonds were quiet but with a firm undertone after recent Interest In
      122 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      186 8 4 1 MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE ASIA RESEARCH BILLETIR 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
      186 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      The reasons for those four new shipyards
      503 9 NEARLY everyone who read the newt report over the weekend, stating that four new shipyards will be operating by the end of this year, is curious as to the rationale behind starting a new shipyard in the midst of a shipbuilding recession. Some
      503 words
    • Article
      MacGregor-CWT joint scheme
      180 9 MACGREGOR South East Asia will enter Into a loose Joint "participation" scheme with Container Warehousing and Transportation (CWT). MacGregor Is a cargo access and transfer equipment company while CWT provides a wide range of services related to the shipping industry, Including the repair of containers and a
      180 words
    • Article
      Lock icon Counsel: Port Authority under political pressure
      315 9 Reuter NEW YORK, Wed. Lawyers for British Airways and Air France said in court yesterday that the operators of Kennedy Airport never had any Intention of allowing the Concorde supersonic airliner to land In New York. Lawyer John Welles said the Port Authority of
      Reuter  -  315 words
    • Article
      Competing with Laker
      74 9 GENEVA, Wed. Some 30 airlines plying between Europe and North America are meeting here to discuss ways of competing with Britain's Freddie Laker whose no-reservatlon no-frills cheap flights between London and New York start In September. A working group of three airlines directly affected by the Laker
      74 words
    • Article
      Lock icon LONDON FREIGHT MARKET
      184 9 AP LONDON, Wed. US GulfJapan grain rates eased by a further US2S cents on the London freight market yesterday when the motor vessel Ogden Shannon accepted $9 (FIO) for a 29,000-ton August 5-15 shipment. Trans-Atlantic grain rates held steady at previous levels, however, with $4.55 (FIO) agreed
      AP  -  184 words
    • Article
      IN PORT
      568 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Cherry Vllja (B. Barge) (0900 48 Eastern Sea (after Cherry Vllja sails) 48 Goranka (after Maljln) 31/32 Jaladuhlta (after Straat Clarence) 35/36 Keng Hoi (3FVI) (1700 after Aklhiro Maru) 27/28 Kim Ann (0600) 46 King Lake (0600 after King Sun) 22 Kristin Bakke
      568 words
    • Article
      Lock icon Car makers in US urged to change attitude
      436 9 AP DETROIT, Wed. U8 car makers do not have a good, low-priced small car to compete with foreign lmGrts because they Insist on {her profit margins, the head of the United Auto Workers said yesterday"Foreign car makers seem to be willing to
      AP  -  436 words
    • Article
      Lock icon Japanese sinkings
      83 9 AFP TOKYO, Wed. A total of 474 ships worth 34,100 million yen (Ss32o million) sank, leaving 467 persons dead or missing in accidents in waters near Japan last year. The Maritime Safety Agency, in its annual report on maritime safety, today said, however, that the figure was the
      AFP  -  83 words
    • Article
      Lock icon US-Japan air discord
      279 9 UPI WASHINGTON, Wed. Japan and the United States agreed yesterday on a new air route to Tokyo for a US-flag airline but they still disagree on the major Issues of their 1953 Civil Air Agreement currently under negotiation. State Department officials said the two countries, in a
      UPI  -  279 words
    • Article
      Lock icon S. Korea to boost car industry
      203 9 UPI SEOUL, Wed. The Government will push for Improved and expanded car farts production facilities o enable production of 100,000 vehicles by the end of 1980, CommerceIndustry Minister Chang Yie-Jun said yesterday. Mr Chang said at a press conference that some 300 manufacturers of
      UPI  -  203 words
    • Article
      LianHuat Shipping
      141 9 LI AN HUAT Shipping, a local shipping company, was established In 1067. It operates a regular service to Bangkok, and to other ports In Indonesia. It currently owns five ships, all of which are registered In Singapore. But It has plans to purchase vessels of 10,000 dwt or
      141 words
    • Article
      FEC split won't affect region
      225 9 THE resignation of several major lines from the Far East Conference (FEC) will have no repercussions on the operations of those lines In this area. This is because their operations here are governed by another conference, the Atlantic/Straits conference, which Is operating smoothly. The FEC
      225 words
    • Article
      Lock icon British car output
      50 9 Reuter LONDON, Wed. UK car output totalled a provisional 99,000 in June, seasonally adjusted, against 124,000 In May and 112,000 in June. 1976 the Industry Department said. Commercial vehicle production totalled a seasonally adjusted 28,000 in June against 35,400 in May and 31,000 in June, 1976, Reuter,
      Reuter  -  50 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      582 9 ARRIVALS Sarvice La col Operator Numb •r Time From OA OA472 0005 8YD/MEL CPA CX003 0145 HKG MAS MH682 0610 KCH CPA CX710 1000 HLP OIA GA980 1030 HLP SIA SQ2U 1045 HLP OIA OA944 1055 PKU OIA GA908 1100 MES PAL PR501 1115 MNL RBA BI32S
      582 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      260 9 s I r r w I *<r®« The three basic needs and the three ports of Britonnka 3 1. To get at the facts often a tingle fact easily and quickly, without having to raad a long article in which that fact is embedded. This need is served by the
      260 words
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  • Article
    Lock icon HK trading houses head for bigger things
    1467 10  -  TERRY BYLAND reports on the powerful "Hongs" TERRY BYLAND FT IT WAS almost Inevitable, given the history of the Colony, that the major Hongkong trading houses should have been drawn Into, the multinational business field. The process has been speeded up since the
    FT  -  1,467 words
  • Article
    Lock icon West Asia puts the brakes on growth
    1450 10 NYT JIDDAH, (Saudi Arabia): After nearly four years of heady and sometimes uncontrolled (rowth, the economies of the ollexporting countries that border the Persian Oulf have begun to slow down. Building Is moving less rapidly, governments are tightening their purse strings, controls are
    NYT  -  1,450 words
  • Article
    Today's insoluble problem
    1128 10  -  LEONARD SILK of the New York Times takes a cautious look into the future of the industrialised world. LEONARD SILK NEW YORK: Is the Industrial world In a lull before a storm what could become the most severe storm In half a century? A lot of European
    1,128 words
  • Article
    Lock icon Most embarrassing British strike
    1173 10  -  In a decaying part of London where many Asian immigrants live in seedy surroundings and decreasing job opportunities, a trade union battle of deep bitterness is being fought out. By DAVID CHURCHILL FT LONDON: The most violent labour dispute seen in Britain for several years has
    FT  -  1,173 words
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      267 10 while stocks last! I MfHi RK» ir 'i Ivt. $125/The TimM Atlas of China la far mora than a collection of detailed, up-ti-data mapa. It la an informative, ganaral guida to modarn China tha land itaetf, and tha economy and paoplaa It sustains. Tha Atlaa containa mapa of CMna'a hiatorical
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  • Article
    Millie's out to sell in Singapore
    463 11 A NEW advertising flnn, Singapore's 09th, has been set up by a Hongkong firm and two local companies. Millie's Advertising System (MAS) Is a Joint venture between Millie's Holdings of Hongkong, a trading concern and a group of department stores In the Republic. Speaking
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    Lock icon Ex-UN man to set up cotton firm
    182 11 UPI MANILA, Wed. An outgoing United Nations official In the Philippines announced today he will set up a privately-owned office in New York called the International Cotton Development Organisation. Mr. Donald Bergstrom, who ended a three-and-a-half-year duty in the Philippines as resident representative
    UPI  -  182 words
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    Lock icon KL may send team to boost rubber sales
    155 11 AFP KUALA LUMPUR, Wed. Malaysia Is considering sending a technical delegation to Rumania to promote the sales of natural rubber products. Disclosing this to newsmen after meeting a six-man Rumanian trade mission here today, Deputy Minister of Primary Industries Mr. Paul Leong,
    AFP  -  155 words
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    Lock icon Canada CoL
    34 11 UPI OTTAWA, Wed. The cost-of-living Increased se-ven-tenths of one per cent In June bringing Canada's rate of inflation over the last 12 months to 7.8 per cent. Statistics Canada said today. UPI.
    UPI  -  34 words
  • Article
    It's PAP versus Barisan at Bukit Merah
    164 11 THE BUKIT Merah constituency by-election win be a straight fight between the People 7 Action Party candidate, Mr. Lim Chee Onn, and Barisan Bosialls secretary-general, Dr. Lee Slew Choh. The two were the only ones to file their nomination papers yesterday. Both candidates
    164 words
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    Lock icon Decision on uranium may face delay
    96 11 Reuter CANBERRA, Wed. Prime Minister Malcolm Eraser suggested here today that there might be a delay in announcing whether Australia Intended to mine its uranium reserves estimated to be 20 per cent of the Western world's total stocks. Mr. Fraser had been expected to
    Reuter  -  96 words
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    US toy fair
    40 11 THE UNITED States Trade Centre will hold a one-day American Toy Fair next Tuesday at Its premises at Somerset Road on behalf of the US Government, Hasbro Industries .Pawtucket of Rhode Island and Wywy, another US firm.
    40 words
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    Lock icon Tokyo will protest Aussie curbs on car imports
    423 11 Reuter TOKYO, Wed. The Japanese government said it would protest against Australia's decision to restrict imports of foreign cars and ask that the measure be lifted as soon as possible. An International trade and industry spokesman said the government had not been
    Reuter  -  423 words
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    Lock icon Package deal sweetener for talks
    295 11 UPI SYDNEY, Wed. The Australian sugar Industry made a US$9O million (***** million) concession to Japanese buyers yesterday in a bid to resolve the deadlock In sugar contract renegotiations being held In Tokyo. Local newspapers quoting industry sources said the Australian negotiators offered Japanese refiners
    UPI  -  295 words
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    Lock icon Import controls on meat challenged
    160 11 AP WASHINGTON, Wed. Reduced quotas or Increased tariffs on imports of meat would be Inflationary and costly to American consumers, the U8 Council on Wage and Price Stability said yesterday. The council took a stand against new restrictions on meat imports during a hearing conducted
    AP  -  160 words
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    Lock icon US-HK textile quota pact to stay till Dec
    242 11 Reuter AFP HONOKONO, Wed. The present US-Hongkong textile agreement will be extended until the end of the year, official sources said. The new agreement will come Into force on Jan 1, 1978 Instead of Oct 1 this year, due to problems of
    Reuter; AFP  -  242 words
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    Lock icon Nations affected by Common Market curbs
    164 11 AFP BRUSSELS, Wed. The European Commission's textile import restrictions approved yesterday affect all the nine Common Market countries as far as cotton yarn is concerned. Regarding tee-shirts, the states affected are Britain, Denmark, Prance, West Germany, Belgium, The Netherlands and Luxembourg. The men's shirts
    AFP  -  164 words
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    Lock icon British leaders ask for help
    112 11 AFP LONDON, Wed. Leaders In the cotton trade yesterday proposed to the government a plan to save s.OQf Jobs In the British Industry. In a letter to Minister of Industry Brie Varley, the president of the textile association, llr. Edmund Oarslde, called for an extension
    AFP  -  112 words
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    Lock icon 'Need to set own economy right first'
    106 11 Reuter SYDNEY, Wad. Commerce and Industry Minister Robert Cotton said Australia wanted more trade with Asian countries but first had to solve its domestic economic problems. Australia's ability to trade with A seen as well as other countries depended on the strength of
    Reuter  -  106 words
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    Lock icon France adamant over NZ dairy export policy
    163 11 UPI PARIS, Wed. Brian Talboys, New Zealand's Foreign and Trade Minister, left Paris yesterday after two days of talks which failed to soften France's opposition to continued free New Zealand dairy product exports to Britain. Mr. Talboys, who discussed his country's relations with
    UPI  -  163 words
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    Lock icon $306 m LOAN SIGNED
    90 11 AFP RABAT, Wed. An agreement was signed here today under which a consortium of foreign banks will lend a total of US$l25 million (***** mlllllon) to the Moroccan Economic Development Bank. The loan was organised by the Arab and International Investment Bank and the Union of
    AFP  -  90 words
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    Lock icon Japan's May production index revised
    468 11 AFP TOKYO, Wed. Japan's May Industrial production index was revised downwards to 128.9 (base 1970) seasonally adjusted, from the preliminary 129.1, the International Trade and Industry Ministry said. The revised index was 2.3 per cent below the 131.9 in April, when it roee 0.9 per
    AFP  -  468 words
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    Lock icon Indonesia first to sign tea accord
    152 11 AP UNITED NATIONS, Wed. Indonesia Is the first signer of a pending agreement to set up an international tea promotion association, the United Nations announced yesterday. Indonesian ambassador Anwar Sanl signed It here last Thursday. The association will bring together tea producing and net
    AP  -  152 words
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      107 11 Have you got your copy of the 197b 77 BUKU MERAH? Jh C»H It s the 1976/77 Red Book 1 office/library reference book covering the business scene in Singapore. It is complete. Built up over 80 years and updated each year. H This book contains all the vital m information
      107 words
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  • Article
    RAS chief rape FEFC on proposed rubber deal
    184 12 THE Chairman of the Rubber Association of Singapore, Mr. Tan Eng Joo, yesterday criticised the Par East Freight Conference for expecting to capture 75 per cent of Singapore's rubber exports simply by offering a 2- V 4 per cent discount on gross
    184 words
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    Lock icon Manila task force to end rumours
    153 12 AFP MANILA, Wed. A presidential task force has been organised to run after a group of people reportedly spreading rumours against local banks, touching off some cases of mild bank runs here. Central bank officials said the group seemed to be bent on "undermining
    AFP  -  153 words
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    Lock icon Suharto's summit hopes
    136 12 AFP JAKARTA, Wed. Indonesian President Suharto today expressed his hope that the forthcoming summit meeting of Asean In Kuala Lumpur will significantly contribute to efforts towards achieving the common Ideals of its members. Receiving the credentials of the new Singapore ambassador, En elk Othman Wok, he said
    AFP  -  136 words
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    S'pore trails HK in race to become top banking centre
    1297 12 SINGAPORE Is losing out to Hongkong in the race to become the premier banking centre In the Far East. Euro money, a UK financial magazine, says that a dear trend is now emerging In which Hongkong Is reinforcing Its role
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    Lock icon New oil palm species a breakthrough
    400 12 AFP KUALA LUMPUR, Wed. Malaysian agricultural researchers have developed a shell-less oil palm clone, a major breakthrough which may revolutionise the country's oil palm Industry. Although research circles are tight-lipped over the matter, it Is learnt that the new species has grown quite successfully
    AFP  -  400 words
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    LONDON STOCKS
    659 12 LONDON, Wed. The market was steady with a firm undertone In very quiet trading, dealers said. At 3 p.m. the FT Index was up 3.0 at 449.3. Lack of sellers and small investment demand In a thin market pushed government bonds up by as much as point. Equity
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    Marissco: Focus of seafood controversy
    560 12 A SINGAPORE-Soviet joint venture has become the centre of a controversy In New Zealand over the export of processed seafood. The seafood processor Is Marissco Pte lid In which the Development Bank of Singapore has an Investment through its partlyowned Straits Fisheries. The other partner
    560 words
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    Lock icon Asean list of car parts compiled
    111 12 AFP KUALA LUMPUR, Wed. The Asean Automotive Federation (AAF) has identified a list of component*, parti and products for poealble regional complementation. This was disclosed today by its secretary general, Indonesia's Mr. Hadl S. Tobobroto, at the end of the three-day meeting of the
    AFP  -  111 words
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    Lock icon Thailand calls for gold licence tenders
    192 12 Reuter BANGKOK, Wed. The Thai government said it Is inviting tenders for a licence to import MO,OOO fins ounces of gold a year for two years. The ministry said the licence will be awarded to the offeror of the highest licence fee, wltn a
    Reuter  -  192 words
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    Lock icon State Bank of India plans massive expansion
    278 12 Reuter MANILA. Wai India's largNt com—rrial kaak, til* lonraanl owned But* Baak of India. U £^^Ie i BM?Iu£ e iS tka Pacific, IfMi aa offshore operation ia Singapore, ita chairman, Mr. P.C.D. W—Msr, aaM ban today. Ha was spooking to imam on the
    Reuter  -  278 words
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    Lock icon Pan Am China flights
    38 12 AFP TOKYO, Wed. Pan American World Airways (PAA) is negotiating with China for rights to fly over mainland. China on an eastward route from New York to London, it was reported here today. AFP
    AFP  -  38 words
  • Article
    Chance to air grouses on tax reform
    702 12 THE AMERICAN business community In Singapore will, over the next three weeks, have the chance to air their grouses about the US 1076 TAX Reform Act when they meet a two-man team from the General Accounting Office (GAQ) which arrived here on Bunteams
    702 words
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    Lock icon Manila tourism woes
    244 12 Reuter AFP MANILA, Wed. President Marcos has approved three measures designed to meet the problems of the tourism Industry. The Department of Tourism (DOT) today said the three measures approved Included granting the Civil Aeronautics Board (CAB) the sole prerogative to approve frequency and capacity Increases applied
    Reuter; AFP  -  244 words
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      443 12 This months new Penguins Hie Last Tycoon: F. Scott Fitzgerald Exheuited by Hollywood hackwork, Fitzgerald diad bafora ha could complete the book that many paop4a regard at his masterpiece. His bittersweet novel of Hollywood in the thirties b now a Paramount film due to be reieaeed shortly. As with Tfca
      443 words