The Business Times, 30 July 1977

Microfilm: NL9344
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    9 1 BUSINESS TIMES M.C.(P) 300/1/77 SATURDAY, JULY 30, 1977 50CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon German CoL
      63 1 AFP WIESBADEN, Fri. The cost of living in West Germany was expected to show an Increase this month of 4.3 per cent compared with July last year, preliminary figures released today showed. The Federal Office of Statistics here indicated that this marked a slight rise in price increases
      AFP  -  63 words
    • Article
      Lock icon North Sea boost
      71 1 AFP LONDON, Fri. North Sea oil largely accounted for a 20 per cent Increase in British energy production in the first quarter of this year compared with the corresponding period last year, the Energy Ministry said today. It said North Sea oil output rose nearly six-fold from
      AFP  -  71 words
    • Article
      Lock icon $109m ADB loan
      81 1 AP MANILA, Fri. The Asian Development Bank today approved a US$45 million (SIIO9 million) loan to South Korea for the Nakdong River basin development project designed to help some 20,000 farm families in the area. The bank said the project is part of a flood control and
      AP  -  81 words
    • Article
      Lock icon Budget limit
      70 1 Reuter TOKYO, Fri. Finance Minister Hideo Boh has asked Cabinet colleagues to limit increases In the budgetary estimates for fiscal 1978, starting next March, to 12.7 per cent, compared with a 14.5 per cent increase for the current fiscal year, the Finance Ministry said. Mr. Boh made the
      Reuter  -  70 words
    • Article
      Lock icon Loyalty lessons
      91 1 Reuter JAKARTA, Pri. Indonesia has delayed normalising diplomatic relations with China because it needed time to educate the large Chinese community to be loyal to the Jakarta government, Foreign Minister Adam Malik told reporters here. Asked at a meeting last night if it was too late to restore
      Reuter  -  91 words
    • Article
      Lock icon Dow Jones
      108 1 UPI NEW YORK, Fri. Stocks phinged early today in reaction to the government's.report of a 0.6 per cent decline In June's economic indicators, which.presaged a slowdown in the economy. In addition, investors were disturbed by a US$5 billion surge in the nation's basic money supply in the latest
      UPI  -  108 words
  • Chief Price Changes
    • Article
      In Kuala Lumpur
      102 1 Rites S.H.Chan 2.01 +.19 Most ictivt M'sla Weaving 437,008 T'ganuDev 1.19 +.18 Mega 0.18 +.10 K.Kampar 2.50 +.10 A. Amal 4.18 +.10 A. Hltara 10.80 +.10 M. Weaving 1.27 +.08 ll.Rlce 1.40 +.08 Intraeo 2.28 +.88 SR. Bed v 2.30 +.08 Falls 11. Cables 1.80 -.12 Setron
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    • Article, Illustration
      In Singapore yesterday
      185 1 Rites Most active Sua«ei Beai 230 +29 LieaHoe 298,000 T|ua Drr Sla Haa«Chaa 118 1W 18 17 Incbcape JC-MPH 232,000 229,000 T Harbour 212 14 Lao— Huat 200,000 StoUngor Drad® Koala SkUai Leoof Huat 600 +10 Total Turnover: 3.49 1 If 392 128 +10 +9 Total Value
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  • Article
    Offer to Jakarta, KL expected
    686 1 PREFERENTIAL TRADING ARRANGEMENT MALAYSIA and Indonesia are expected to be invited to participate in the preferential trading arrangement arrived at on a trilateral basis between the Philippines, Singapore and The trilateral arrangement calls for a 10 per cent across-the-board tariff reduction on a range of
    686 words
  • Article
    Growth rates impressive
    393 1 KUALA LUMPUR, Fri. Despite worldwide recession ana uncertainties, there has been an upswing In the economy of the Asean region due to the expansion of exports of primary commodities last year. A survey of the Asean countries shows that Itrowth rates were mpresslve, ranging from qlx per
    393 words
  • Article
    Loans to small industries total $5m
    597 1 IN JUST over seven months, the Government has approved aid, totalling ssaaffissi&rsl! tress. XMi Mists nra la in tte form. ofloaas under uff Small Industries Finance Scheme Jointly set tip by the Economic Development Board and the Development Bank of Singapore late last year.
    597 words
  • Article
    Builder contests wind-up move by Intraco
    270 1 WEI QIAP Construction, orlfinally the principal contractor* for the Housing and Urban Development Company's Brad dell View ■state, is contesting the winding-up petition served against it by the govern-ment-backed trading firm Intraco. At a High Court hearing yesterday, Wei Oiap's lawyers, Ifeeers Qoh AikChew,
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  • Article
    Lock icon Fed for strong $
    98 1 Fed for strong Reuter WASHINGTON, FrL The chairman of the U8 Federal Reserve Board, Dr. Arthur Bona, today gave firm suppoet to a .strong dollar and •aid everyone In the Amsrtcan government supported theXrlew. Testifying to the House of Representatives banking committee, the head of the US central bank said
    Reuter  -  98 words
  • Article
    Lock icon WHAT A DROP IN U.S. INDEX SIGNALS
    220 1 AP WASHINGTON, m. The US government's index of leading Indicators dropped Hz tenuis of one per cent tn June, foreshadowing a slowdown In economic activity, the Commerce Department said today. The decrease in the Index was the biggest since a drop of 1.1
    AP  -  220 words
  • Article
    Tarling to be extradited to S'pore
    305 1 LONDON, Fri. Three High Ceurt judges today ordered Richard Tarling, fan chairman of Haw Par Brothers Inter□ational, to be extradited to Singapore. But he was granted hail ponding an appeal and Lard Justice Shaw said any operation of the extradition order would be postponed
    305 words
  • Article
    Govt says 'no' to chamber's project
    330 1 THE GOVERNMENT has rejected the Singapore Chinese Chamber of Commerce's plans to build a 21-storey commercial building in Telok Ayer Street. But the chamber, in its monthly management meeting yesterday, decided to appeal to the Government to reconsider its decision. The meeting was told
    330 words
  • Article
    Eight Hanoi trade missions coming
    152 1 ABOUT eight Vietnamese trade missions will visit Singapore soon to strengthen economic ties between the two countries. This was disclosed yesterday by Mr. Tan Keong Choon, chairman of the finance sub-committee of the Singapore Chinese Chamber of Commerce. He told the chamber's monthly management meeting
    152 words
  • Article
    More sales to HK
    61 1 HONGKONG, Fri. Britain's export to Hongkong jumped by 42.5 per cent, according to the senior British trade commissioner here. The commissioner, Mr. D.M.March, said that exports from the United Kingdom to Hongkong totalled £106 million (***** million) for the first five months of this year, an
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  • Page 1 Advertisements
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  • MARKET REVIEWS
    • Article
      Lock icon British stocks provided the highest yield
      312 2 AP GENEVA, Frl. Investments on the British stock market would have yielded the biggest gain among workl stock markets in the first six months this year, while the largest losses would have been sustained on the Swedish stock market, according to a survey by
      AP  -  312 words
    • Article, Illustration
      Oh, what a month of feverish activity
      802 2 SINGAPORE BY AND large, the month of July saw most counters on the local stock market registering their best gains since the bull run of 1072/73. The Business Times index was not only taken to Its highest level since Its Introduction in January
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    • Article
      The best
      67 2 GEUfc 900 170 C Hu( art AjnrHltuiTIi 372 1040 +54 +40 81aliM|Cku 190 +34 Li—g 8M1 128 +27 8«nMai BmI 220 +28 IM 1 i i Tgaau Drf 118 +18 Dutch Baby 128 12 CBwirtftn ISO +11 MiU UN 190 +11 M*|tCkM 70 +10* SeUeger Dred< IiUWIPn 800
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    • Article
      The worst
      45 2 MBuUM StkMatahi itst* 384 -12 171 -12 IM -11 566 -10 181 -f 272 -r 226 -6 187 -8 126 -8 110 81 286 -7 147 -7 61 -6* 386 -6 TtwaPwb (Wftmn Daaiaplal MtUjtvtU MB -6 236 .4 906. -6 171 -6
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    • Article
      Higher closing after turnround on Thursday
      431 2 K.LUMPUR THE Kuala Lumpur stock market closed higher this week after weathering generally easier condition* at the beginning. The turnround occurred -en Thursday when the volatile Malaysian Business Times index rose 9.01 points to 300.37. And yesterday, it was lifted by another 1.66 points
      431 words
    • Article
      Lock icon Compulsory company reporting proposals
      140 2 Reuter LONDON, Frl. Trade Secretary Edmund Dell said he has Issued a consultative Green Paper on new reporting requirements for larger companies. The proposals Include compulsory statements on value added, employment and international trade. In addition, companies may be required to give a more detailed breakdown
      Reuter  -  140 words
    • Article
      Sterling's strong showing gives City a boost
      579 2  -  LONDON By IVAN FALLON THIS week, the Bank of England dramatically changed its tactics, let the pound rise sharply against the dollar (and to a lesser extent other currencies) and at the same time reversed the downward trend in the stock market. After
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    • Article
      Inchcape does it again
      330 2 INCHCAPE Is a phenomenon, a group which year after year nas gone on producing an average 30 per cent rate of profits growth (it has now done so for n6 less than 18 years) ana which meets the projections that its many City admirers lay down
      330 words
    • Article
      SIME AND ASSAM FRONTIER
      307 2 ONE of the most active stocks all week In the London market has been Assam Frontier, a tea plantation company, which on Tuesday soared over 50p when the board confirmed reports that It had received a bid and continued moving up through the rest of the
      307 words
    • Article
      Company news for the week ended July 29
      283 2  -  LAM OTHER ANNOUNCEMENTS Bovii South East Asia: Wholly-owned subsidiary, Bovls (Singapore) Is to sell to Gammon Services the entire Issued and paid-up capital of Lonag Ltd (England) for a cash consideration of £1,000 (8*4,200). Jack Chia-MPH Is to acquire a majority stake
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  • Page 2 Advertisements
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      13 2 Total Rainfall for the Month 114.8 Total Rainy Days for the Month 12
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      306 2 SINGAPORE 5 12.55PM Opening Announcements followed by Sesame Street* 1.55 Pre-Examination Programme Merchant of Venice (fa. 1)* 3,10 Wimbledon Tennis '77 Ladies' Singles Final* 4.45 Sandiwara Ibu (A Malay drama repeat) 5.30 Debat 77 for Inter-Schools Ist Semi-Final (English-Repeat)* 6.30 News in Brief* 6.35 Barenbota on Beethoven New dimensions (Repeat)*
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  • OVERSEAS
    • Article
      Lock icon Spanish bank now owns Century National
      479 3 NYT NEW YORK, Frl. If you wanted to buy a seemingly solid New York City bank, the place to be yesterday was the American City Squire Inn. That's when, for U803.2 million (8019.04 million) and where, the Century National Bank and Trust Co went
      NYT  -  479 words
    • Article
      Lock icon Institute says Bonn GNP will be lower
      117 3 Reuter MUNICH, Frl. Real growth In German gross national product this year Is expected to be only around 3.5 per cent, even If growth picks up somewhat In the second half, the IFO Economic Research Institute said. It forecasts average unemployment this year
      Reuter  -  117 words
    • Article
      Lock icon $121m in the pocket
      37 3 AFP JEDDAH, Frl. General Zlaur Rahman, the president of Bangladesh, left here last night with a US$5O million (*****.5 million) loan In the bag for the rehabilitation of nls country's rail network. AFP
      AFP  -  37 words
    • Article
      Lock icon Latest money rise calls for tighter policy
      632 3 Reuter WWW YORK. Frl. Any lingering doubts In the credit markets that the Federal Reserve Bank would tighten. monetary policy were quickly dispelled yesterday afternoon after publication of the money supply aggregates for the July 20 week. The Fed report showed that money
      Reuter  -  632 words
    • Article
      Lock icon Foreign debts shrink as US$ weakens
      152 3 Reuter BUENOS AIRES, Frl. The foreign debt of Latin American nations is shrinking as a result of the fall of the dollar In foreign exchange markets, Chilean Central Bank president Alvaro Bardon said here. "Current US difficulties are not too significant for Latin American
      Reuter  -  152 words
    • Article
      Lock icon Moderate growth
      90 3 Reuter WASHINOTON, Frl. President Carter's chief economic adviser, Mr. Charles Schultse, said he expects the economy to grow moderately In the current half year. He said he expects economic growth as measured by real gross national product to be about five per cent. Mr. Schultse said on balance,
      Reuter  -  90 words
    • Article
      Lock icon DOWN IN CANADA
      92 3 Reuter OTTAWA, Fii. Buk of Canada said narrowly defined money supply «u down Cs9o million (***** million) to 1it,856 million in the week ended July 20, while the more broadly defined money supply was up $580 million to $88,511 million. Chartered Bank general loans outstanding rose $504
      Reuter  -  92 words
    • Article
      Lock icon Apel's dollar query for Blumenthal
      388 3 Reuter BONN, Frl. German Finance Minister Hans Apel will ask U8 Treasury Secretary Michael Blumenthal In Parts to explain the American position on the dollar decline, finance ministry sources said. Mr. Apel has heard Mr. Blumenthal's recent remarks on the dollar only from press reports
      Reuter  -  388 words
    • Article
      Lock icon Big Three car makers post record earnings
      425 3 UPI DETROIT. Frl. The "big three" US car companies have reported that combined profits In the second quarter of 1977 totalled U851.73 billion (554.18 billion) highest for any three-month period In car history. Ford Motor said Its quarter record $530 million profit was
      UPI  -  425 words
    • Article
      Lock icon CBI sees dark clouds
      277 3 AP LONDON, Frl. Despite optimistic government predictions about the future of Britain's economy and the upswing of sterling against the dollar, the Confederation of British Industries (CBI) paints a gloomy picture of a stagnant economy and business confidence draining away. In Its latest quarterly survey of
      AP  -  277 words
    • Article
      Lock icon Ploughing back profits
      221 3 AP LONDON. Frl. Britain's nationalised Industries, many of which recently Increased the price of their services to consumers, have announced they made large profits last year. In separate annual reports Issued this week, Britain's Electricity Council, Oas Corporation, Post Office, Coal Board and British Airways ell reported
      AP  -  221 words
    • Article
      Lock icon Pledge of govt aid
      65 3 AFP LONDON, Frl. The British government yesterday pledged to aid footwear manufacturers hard hit by Imports of shoes. Secretary of State for Industry Alan Williams told the House of Commons that measures being studied Included tightening restraints on imports and encouragement of exporters. Financial aid to
      AFP  -  65 words
    • Article
      Lock icon Progress made on Witteveen facility
      486 3 Reuter PARIS, Frl. The Group of 10 deputies made progress In technical dlscuasions about the propoeed International Monetary Fund "Witteveen" facility, chairman Jacques de Larosiere aaid. He told Journal lata the one-day meeting made It more likely that some agreement can be reached at a
      Reuter  -  486 words
    • Article
      Lock icon Exchange expects to break even
      502 3 Reuter AMSTERDAM. Frl. The organisers of the proposed European Options Exchange believe It can reach Its break-even volume of 7,000 contracts a day within the first 12 months of operation, EOE council member Cornells Van Der Sllkke said. Technical preparations for the exchange, which is
      Reuter  -  502 words
    • Article
      Lock icon Britain — a tourist magnet
      81 3 Britain a tourist magnet Reuter LONDON, Frl. Tourists spent a record £913 million (852,155 million) In Britain during the first three months of this year, a 59 per cent increase over the same period last year, the Department of Trade said yesterday. Almost two million holiday makers came to Britain
      Reuter  -  81 words
    • Article
      Lock icon NEW FOREX TACTICS TO BE MORE FLEXIBLE
      447 3 Reuter LONDON, Frl. The new foreign exchange tactics adopted by the Bank of England are likely to be more flexible as well as based on a broader spread of currencies. Intervention will probably continue to keep sterling below its short term "pure market"
      Reuter  -  447 words
    • Article
      Lock icon Direct chanelling of petro $ to Latin America
      415 3 Direct chanelling of petro to Latin America NYT LIMA, Fri. Tha ArabUtia American kuk to W aata bttahad km to October will new direct ckuMl hM Wait Aaia pitf isllara tad Um Hubetol needs of Argentina, Brazil, Chile, Peru ud Tnlimhia Official ud private baab of thooe five South American
      NYT  -  415 words
    • Article
      Lock icon Firms up for sale
      71 3 AFP BUENOS AIRES, Frl. The Argentinian government la to return many of the companies now under Its control to private ownership. A law made public yesterday said that the firms would be put up for sale within 180 days. They were bankrupt or ailing and were
      AFP  -  71 words
    • Article
      Lock icon Fiat beats them all
      82 3 AFP TURIN, Frl. Italy's Flat Companv has won an order to supply Jointly with an Iranian firm a 70,000-kilo-watt power station In Iran. Flat Intermomeccanlca Nucleare ae Turbogas Spa, a subsidiary of the Italian motor firm, was awarded a contract estimated to be, worth US$l2 million
      AFP  -  82 words
    • Article
      Lock icon Tokyo to give $2.3b soon
      217 3 AFP TOKYO, Frl. Japan will contribute about 800 million special drawing rights (SDR) or some US$93O million (552,260 million) to the International Monetary Fund's ryw credit facility to help nations suffering from chronic payment deficits, Finance Ministry sources reported today. The contribution will be made
      AFP  -  217 words
    • Article
      Lock icon Fruits for schools
      36 3 AFP PORT CROS (South-east France), Frl. Minister of Agriculture Pierre Mehalgnerie said here yesterday that surplus fruits and vegetables would no longer be thrown away or destroyed but "distributed to schools and hospitals"—
      AFP  -  36 words
  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      115 3 NOW ON SALE at your regular bookshop. The phenomenal bestseller which has taken America by storm the story of a black American's search tor his root* in Africa. ROOTS has sold over 1'« million hardback copies since its publication and it is continuing to top the bestseller lists even now.
      115 words
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  • Article
    George Kent hopeful of another record year
    715 4 GEORGE KENT (Malaysia) is expecting Its earnings for the current year ending March 31, 1978 to top the record profit for the year Just ended. "Results to-date Justify this small measure of optimism," reports chairman, Mr. F.B. Rosslter in the 1076/77 annual report.
    715 words
  • Article
    Faber stands to lose M$2.8m in Pahang Cons sale
    464 4 FABER MERLIN Malaysia will incur a net loss of about MS2.B million from the sale of its 25.1 per cent stake in Pahang Consolidated for a total cash consideration of $14.46 million to Mars Finance. The company says in reply to
    464 words
  • Article
    PEOPLE IN BUSINESS
    79 4 MB. B.E. Sutton, managing director of Eastern Agencies, (S) Pte. Ltd., has announced the appointment of Mr. Allan H.Y. Lin to the company's board of directors. Mr. Richard C. Ferris, general manager of Kodak (S) Pte Ltd has announced the promotion of Mr. 7m Kok Hua to
    79 words
  • Article
    Lock icon CRA in bid for Coal and Allied
    266 4 Reuter SYDNEY: Frl. Howard Smith and Conzlnc Rio Tin to of Australia (CRA) will bid for the ordinary and preference shares in Coal and Allied Industries Ltd (CAIL) not already held by Howard Smith. The two companies will offer $3.30 cash a share
    Reuter  -  266 words
  • Article
    Lock icon NKK passes dividend
    117 4 Reuter TOKYO, Frl. Nippon Kokan KK (NKK) vicepresident Mr. Thlroshl Takano said the company may pass the interim dividend for the half-year ending Sept 30, 1977 If the steel Industry slump continues. NKK declared a five yen dividend for the year ended March 31, 1977 including a
    Reuter  -  117 words
  • Article
    Lock icon Sharp drop in Heublein's fourth quarter income
    175 4 Reuter FARMINOTON, CONN., Frl. Heubleln Inc attributed the sharp decline In fourth quarter earnings mostly to a provision for phasing out the equipment and supply operations of Its Kentucky Fried Chicken unit. Heubleln reported fourth quarter earnings from continuing operations of 33 cents
    Reuter  -  175 words
  • Article
    Lock icon Record 98pc rise in profit at Inchcape
    139 4 Reuter LONDON, Frl. Inchcape recorded an Increase of M per cent In pre-tax profit to £73.38 million on sales of £1.26 billion for the year ended March 31, 1077. Previously, It made a pretax profit of £37 million on sales of £910 million.
    Reuter  -  139 words
  • Article
    Renong accepts compensation
    170 4 UK-INCORPORATED Renong Tin Dredflng, which transferred its residence to Singapore In January 1970, has accepted compensation of kit 1.22 million from the Malaysian authorities for the acquisition of Its property near Kuala Lumpur. "The amount of compensation has been received," Renong says In a circular letter to
    170 words
  • Article
    DIVIDENDS ANNOUNCED
    201 4 Current Ex Date Total for Total for payas*t Date payable tkeyear (revioua year G wrp Twn 15* July6 July 30 20* 23* KbaagGuaa Holdings 10% July 11 Aug 1 10* 10* LmrPmk 15* July 1 Aug 5 30* 30* Oriental Holdings 9* July 28 Aug 10 15* 15*
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  • COMPANY MEETINGS
  • Article
    Lock icon North Sea crude boosts Getty Oil earnings
    271 4 Reuter LOS ANGELES, Frl. Getty Oil cited Initial crude oil sales from the Piper field In the British North Sea and higher natural gas prices in the U8 for Its improved first half results. The company made net earnings of U5575.84 million or
    Reuter  -  271 words
  • Article
    Lock icon More oil soon from Piper field
    268 4 Reuter LOS ANGELES, Frl. Occidental Petroleum Corp said Britain authorised an Increase In oil production from the Piper field In the North Sea following approval for construction of a gas recovery system there. Current oil production Is averaging 220,00 barrels dally and Occidental said
    Reuter  -  268 words
  • Article
    Lock icon Profit slump at C. Banking
    267 4 Reuter SYDNEY, Frl Unaudited group operating profit at Commercial Banking Co. of Sydney slumped from Ag10.52 million to $819,000 for the year ended June 30, 1977. Group revenue also fell to $131.47 million from $141.34 million previously. The latest results left earnings per share at
    Reuter  -  267 words
  • Article
    Lock icon Improvement in TWA finances
    150 4 Reuter NEW YORK: Fri. Trans World Airlines said as a result of its improved financial condition the mortgage In favour of TWA's senior lenders, covering essentially all the company's aircraft and engines, has been suspended. During a suspension period, most of the mortgage provisions limiting company
    Reuter  -  150 words
  • Article
    Latest results SELANGOR DREDGING –
    128 4 Latest results SELANGOR DREDGING Unaudited pre-tax profit M 518.68 million ($4.84 million) for the year ended March 31, 1977. Gross proceeds from sales of tin concentrates 829.19 million ($14.74 million) and miscellaneous receipts $64,796 ($104,721). Interest and dividend Income $581,967 ($2,588). Tax $10.5 million ($2.75 million) leaving after-tax profit $8.18
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  • Article
    CHICAGO BOARD OPTIONS
    1417 4 On July 28 ON the Chicago Board Options Exchange on Thursday, 104,609 contracts changed hands down from 105,735 on Wednesday. OPTION OCT JAN APL STOCK Alcoa SO 3 1/2 4 1/2 UNTRD 53 Alcoa 60 3/8 1 1 5/8 S3 Am Exp 35 S 1/2 UNTRD 40
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  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      480 4 MJUUIVsiAN BUSINESS, the monthly economic ft business journal, offers you in its JULY 1977 issue: 21 YEARS AFTER FELDA comes of age this month. Nearly a quarter million people have been settled on its 186 land schemes, having developed some 870,000 acres during the last 20 years. This year, another
      480 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Barclays Bank achieves higher profit
      328 5 UK COMPANIES Reuter BARCLAYS BANK, the largest of the UK clearing banks, has raised pre-tax profit to £131.5 million In the six months ended June 1977, from £93.4 million previously. Group vice chairman Mr. Derek Weyer said there may be little change In profit between
      Reuter  -  328 words
    • Article
      Lock icon Fisons results likely to be satisfactory
      114 5 Reuter FISONS said results for 1977 are likely to be satisfactory although It Is still too early for a formal forecast. Trading In the first five months was disappointing In agricultural products with bad weather affecting the UK agrochemical division and fertilisers affected by
      Reuter  -  114 words
    • Article
      Lock icon Slight improvement at Dresdner
      238 5 Reuter FRANKFURT, Frl. Dresdner Bank's trading result in the first half of 1977 was slightly more than half the figure for the whole of last year. Interest surplus in the six months was 660.3 million marks compared with 655.6 million, half the overall 1976 figure. Commission
      Reuter  -  238 words
    • Article
      Lock icon SEC files suit against A-T-0
      253 5 NORTH AMERICAN COMPANIES UPI THE SECURITIES and Exchange Commission charged that A-T-O Inc. made US$l.2 million in secret payments to officials of foreign governments In Europe. Africa, West Asia and Central America. A-T-O of Willoughby, Ohio, is a diversified manufacturer whose products Include automatic bottle
      UPI  -  253 words
    • Article
      Lock icon Pizza Hut, Pepsico merger pact
      84 5 Reuter PIZZA HUT said that It and Pepsico signed a definitive merger agreement approved by directors of both companies. Pizza Hut said the transaction requires approval by its stockholders at a special meeting to be held in early October. Under previously announced terms, Pepsico would
      Reuter  -  84 words
    • Article
      Lock icon Further deficit rise at Mt. Lyell Mining
      347 5 ASIAN COMPANIES Reuter SYDNEY, Frt. Mount Lyell Mining has suffered much higher losses in the year ended June 1977. The deficit has risen to A $6.14 million from $1.9® million Ertously, while revenue fallen to $24.75 million from $31.25 million. There will be
      Reuter  -  347 words
    • Article
      Lock icon Utah Development may see record year
      275 5 Reuter Reuter MELBOURNE, Frl. Utah Development is well on the way to its biggest profit In Australia earning close to AsB4 million In the latest half year. In the aame period last year the US-controlled coal miner earned about $80 million. The gain came
      Reuter  -  275 words
    • Article
      Cities Service awaits test reports
      121 5 MANILA, Fri. Philippine Cities Service awaits evaluation of its five drill stem tests after concluding drilling In its South Nido One well off Palawan, the Energy Development Board (EDB) said. Cities Service is now Eeparing its next drlllslte the Ountao One well, also off Palawan.
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    • Article
      Lock icon SPERRY COMPUTER EARNINGS STRONG
      112 5 Reuter STRONG COMPUTER earnings served to offset "somewhat disappointing" results In its new Holland European farm equipment operations, Sperry Rand chairman Mr. J. Paul Lyet said in commenting on the June quarter results. For that quarter Sperry Rand reported fully diluted earnings per share of 98
      Reuter  -  112 words
    • Article
      Setback at Gillette
      78 5 GILLETTE said sales of its Gillette North America division were level with last year In both the second quarter and six months but earnings declined because of price competition in the disposable lighter business. Sales and earnings of its Gillette international divl- slon were ahead in the
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    • Article
      Lock icon Grand Union
      58 5 Reuter GRAND UNION said shareholders approved a merger with Cavenham Ltd's Cavenham (USA) subsidiary, which already owns 81 per cent of Grand Union stock. The company said under the terms grand Union holders win receive a nominal US$2l of Cavenham (USA) lift per cent sinking fund debentures due
      Reuter  -  58 words
    • Article
      Lock icon AMERADA HESS BUOYANT
      79 5 Reuter AMERADA HESS said the rise in its first half net income from U5573.5 million to $123 million came primarily from improved profit margins on sales of refined petroleum products. Earnings of refining and marketing operations in the first half totalled $67.7 million, up from $17 million
      Reuter  -  79 words
    • Article
      Lock icon Hydro-Quebec US$200m issue
      180 5 HydroQuebec US$200m issue Reuter HYDRO QUEBEC arranged for the private placement of US$2OO million In the US but is seeking to raise $300 million, market sources said. Officials of the Quebec Crown Corporation have declined comment on the negotiations for the private placement. Market sources are speculating the issue's coupon
      Reuter  -  180 words
    • Article
      Lock icon INMONT SHARES OFFER
      77 5 Reuter INMONT said Esmark granted to any person to be designated by Inmont an option to purchase the Inmont shares owned by Esmark at a minimum price of U5528.25 per share. Inmont reported second quarter earnings of 94 cents on sales of $154.0 million compared with 87
      Reuter  -  77 words
    • Article
      Lock icon JAPAN LINE
      45 5 Reuter TOKYO, Frl. Japan Line has established a wholly-owned subsidiary in New York to break Into the tanker business In the US. where demand for oil transportation from West Asia is rising. The new firm, Japan Line Tanker, Is capitalised at US$5O,OOO. Reuter
      Reuter  -  45 words
    • Article
      TSE to ease controls
      79 5 TOKYO, Frl. The Tokyo Stock Exchange said It will ease margin trading controls over all stocks except seven from today to encourage the market, which fell to a year's low on Thursday. It said the margin requirements for most stocks will be lowered to 30 per
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    • Article
      Lock icon Farm-out of APC approved
      84 5 Reuter SYDNEY,FrI. -Oil Search said It reached agreement In principle with Gulf Energy and Minerals on the farm-out out two Australasian Petroleum Co (APC) concessions In Papua New Guinea. The terms of the farmout cover a two-year exploration period, involving the drilling of one exploration well.
      Reuter  -  84 words
    • Article
      Lock icon FUJI TO STUDY EFFECTS
      94 5 Reuter TOKYO, Frl. Fuji Photo Film said it is studying any possible effects GAF Corps decision to discontinue Its consumer photo business will have on Its US sales. The company said it accounts for only a few per cent of the US market for colour photofllm,
      Reuter  -  94 words
    • Article
      Lock icon CB dividend
      34 5 Reuter MELBOURNE, Fri. Commercial Bank of Australia Is to raise Its final dividend by one Australian cent to eight cents, making a total of 16 cents, 2.5 cents upon last time. Reuter
      Reuter  -  34 words
    • Article
      Lock icon BRITISH BANK PAYOUT
      56 5 Reuter HONGKONG, Frl. British Bank of the MiddleEast has paid a lOp 1977 Interim dividend to the parent company, the Hongkong and Shanghai Banking Corp. No Interim was paid last year, but its interim payout of £2 million should be compared with a total 1976 dividend of
      Reuter  -  56 words
    • Article
      Lock icon Hutchison to raise holding in Harbour
      253 5 Reuter HONGKONG, Ftl. Harbour Engineering said agreement has been reached on a HKSIO million subscription by Hutchison International Ltd in new equity and loan Harbour capital. It proposes a capital reconstruction, after which the Hutchison Group will Increase Its holding in Harbour to 54.6
      Reuter  -  253 words
    • Article
      Lock icon UPTURN AT SHELL AUSTRALIA
      206 5 AP MELBOURNE, Frl. The Shell group of companies in Australia lifted profit by almost ASIS million to $49.3 million in 1976 due largely to a reduction In exploration write-offs, the companies said. The group's sales rose by 23.6 per cent to almost $813 mlllloiAlespite a drop
      AP  -  206 words
    • Article
      Lock icon Redesdale ups stake in Robe River
      230 5 Reuter SYDNEY, Frl. Redesdale has lifted its stake In Robe River to 50.001 per cent by additional share purchases In the market, Burns, Philp and Co. Said. It said Redesdale, 51 per cent owned by Burns, Phllp and 49- per cent by Engelhard Minerals
      Reuter  -  230 words
    • Article
      Lock icon New oil find in East Sumatra
      78 5 Reuter JAKARTA, Fri. California Asiatic Petroleum and Texaco Overseas Petroleum made a new oil find In Riau mainland, East Sumatra, with a dally production capacity of 3,480 barrels, the Indonesian state-owned oil company Pertamlna said. The well is about 80 kilometres east of the
      Reuter  -  78 words
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      Page 5 Advertisements Column 1
      118 5 *>, «8 9S l h r *1 Of--0 4f> 9ft 6 h £n} sj 5s Nr /r Pi j& §5$ -< <N SSSv Have you got your copy of the 1976 77 BUKU MERAH? It's the 1976/77 "Red Book office/library reference book covering the business scene in Singapore. It is
      118 words
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  • Article
    Share Information Service
    2286 6 1*77 Hick Law Last Sale Gfa DK «Srr or* f Ne1 P/E V«1 SECTION ONE INDUSTRIALS 154 204 96 230 101 196* 169 223 396 171 136 172 58 212 57 155 152 182 350 145 Acma Alcorn Allied Choc Bat* Ben Boustead Bousteadco CfcC CCM Chemlnd
    2,286 words
  • Article
    Transactions in Singapore
    1305 6 BID and offer prtoea officially luted ■ad bwfeMM In and reported to u» thown In bracket* in tou of 1000 unit* unlam othenrtae All TUm Settlement Contract* an quoted atlm Um word "Sett." Btf Board deal* (in lou of MM unit*) arc Quoted after the letter B8
    1,305 words
  • Article
    In Kuala Lumpur
    1450 6 BID and offer price* officially listed and busmen 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 Ajmemete (2 008) (1) 2.00. Aleem (1.898 IMS) (10) 1.90. A.
    1,450 words
  • Article
    Stock options
    34 6 STRIKING prion mt Um Mock iiHim oflteUlb M aa Ik* Stock Kxckuc of Siacapora. »W parte**, bUaarfWlW prim and haataaai tea yiataitoy, wtU tka rakw of apttoaa traM aWwa ia brsckvU <D
    34 words
  • Article
    Unit trusts
    146 6 SINGAPORE UNIT TRUST INCOME BOND UNIT Muuim pnc* for Aag 1) (Cwnal pi INCOME BOND ■toss) The Commerce 1.71 l.tl 1.08 1.12 The Saving Fund on i.o« S pore Prog Fund 0.85 0.80 MARA BUMIPUTRA FUND 8'pore Security (Maaagsrs' priest First Bumlputra far Aag 1) rand 1.45 1.53xd
    146 words
  • Article
    CORPORATE BONDS
    164 6 B O T 8 1/2% IMI (100,000) (103*B 103SS) B O T 7 VB% IM4 (100,000) (MB M*B) LTCB J IM2 (100,000) (98*>B 99V«S) Credit Lyauwii Floating IMS (100,000) (M*B 98*8) DBS Converts 8 1/2% IMI (100,000) (M*B M*B) D B S 8 1/2% 1962 (100,000) (101WB 102*8)
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  • Article
    GOVERNMENT BONDS
    112 6 Rep Spore D Mark 7% 1962 (100,000) (100*B 101*8) Rep Spore 8 1/2% 1983 (100,000) (99*8 1008) Rep Spore 7 3/4% 1987 (100,000) (100*B 101*8) 5 1/4% 18/7/78 (250,000) (101.458 101.578) 4 3/4% 1/8/79 (250,000) (100.858 100.928) (4) 100.88 5 1/4% 18/16/79 (250,000) (101.958 102.058) 3/4% 18/8/80 (250,000)
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      Page 6 Advertisements Column 1
      176 6 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who
      176 words
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  • Article, Illustration
    MODERATE TRADING
    563 7 SECOND and third Users highlighted a generally moderate session of trading on the Stock Exchange of Singapore yesterday. Trading la this sector of the market was ahHd feverish towards the closing hail, la contrast, business slsewhare was selective and an the alow side. Most of the volatile Malaysian-based
    563 words
  • Article
    SAME STEADY PACE IN KL
    469 7 Moderate gains were recorded In fairly active trading on the Kuala Lumpur sto;k market yesterday. Following the previous day's trend, prices ruled steady as buyers continued to support most of the second and third liners. Lower-priced shares like Mega and South East Asia Lumber, for
    469 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      363 7 HONGKONG: The market closed slightly higher in vary quiet, featureless trading, in a technical reaction to recent weaknees, dealers said on Friday. The Hang Seng index ran 2.91 points to cwee at 417.86. Swire Pacific roee 10 cents to 16.10, Whs sleek 2.5 cents to $2,929, Hongkong Bask 10
      363 words
    • Article
      Tokyo
      485 7 TOKYO: Share prices recovered sharply following the easing of maryln trading controls and the overnight upturn on Wall Street, dealers said on Friday. The Dow Jones Average gained 48.79 to close at 4,898.14 with volume 300 million shares, while the New Index cloeed at 389.97 up 2.31. Export-orientated electrlcals
      485 words
    • Article
      Sydney
      388 7 SYDNEY: The market closed firmer with coals particularly active, dealers said on Friday. Coal and allied roee 90 cents to $3.45 on turnover of 40,000 after a take-over bid by Howard Smith and CRA. The Sydney All-Ordinaries index rose 0.74 to close at 439.56. BHP rose 10 cents to
      388 words
    • Article
      Manila
      139 7 MANILA: The market closed mixed with commercials and oils advancing slightly while minings declined fractionally, dealers said on Friday. Turnover rose to 5.57 million pesos from Thursday's 3.90 million. Atlas rose one point but PUlex and Leaaato were unchanged. Oriental and Phil Overseas lost one point, while PLOT row
      139 words
    • Article
      Bangkok
      100 7 JULY 2> Bahti 1 A** Fibre 1M -2 Bangkok Bulk H7 Bangkok Invest 234 ♦W B&nfk ok-Metro-politan Bank Bata 668 10 Berll Jucker UO +94 Charoong Thai Wire 180 Dumex Duslt Than] at raber Merlin nm Trust Indo-Thal Industrial Finance Corp IMS 10 J And J Ho fff +4
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    • Article
      Amsterdam
      345 7 AMSTERDAM: The market closed lower on Thursday in line with the sharp decline on Wall Street. Royal Dutch led Dutch Internationals 2.20 guilders lower although losses elsewhere in the sector were limited to 0.80 guilders Banks rose slightly against the generally lower trend elsewhere. Amro closed 0.50 up, NMB
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    • Article
      Brussels
      187 7 BRUBSELS: The market was sharply lower, with a sizeable business volume despite the start of the holiday season, dealers said on Thursday. The market reacted mainly to the sharp drop on Wall Street, but U.K. Issues were notably firm In response to the rise In the pound. Aadr* Dumoot,
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    • Article
      Frankfurt
      280 7 FRANKFURT: Shares closed mostly slightly lower following Wall Street and despite the dollar recovery, bourse sources said on Thursday. Daguaaa fell 2.40 marks. In electricals BBC lost two marks and in autos Daimler 1.00 marks. In steels KloockaorWsrke was down 2.10 marks but Tkyssae Industrie gained 1.80. Stores rose
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    • Article
      Milan
      64 7 MILAN: Stocks closed mostly higher In thin dealings, bourse sources said on Thursday. Geeersle ImnwMlliit firmed as did Snia Viseoaa, Fiat and Maatsdiaoa. Both Pirellis eased against the trend. Uaidal closed slightly firmer. The company is awaiting a decision on its future following dlscussion at Its state-owned parent of
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    • Article
      Paris
      323 7 PARIS: The market was lower on Thursday with some dealers attributing the fall to the Influence ofwall Street's decline. Electrlcals. engineerings and metals were the only sectors to rise against the general trend. Among foreign*; Americans. International oils, Germans and Dutch fell. Golds and coppers were Irregular. JULY a
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    • Article
      Zurich
      288 7 ZURICH: The market ruled irregularly lower In moderate trading, dealers said on Thursday. Although leading industrials were mostly slightly lower, foods gained, with Interest centred on Hero and Roco. Nestle stock edged lower. Chemicals and engineerings inclined easier. In utilities EG Laufeehurg rose. Small losses predominated lnflnanclals and Insurances
      288 words
    • Article
      Jo'burg
      347 7 JOHANNESBURG: Oold and financial! drifted quietly easier on the stock exchange on lower bullion Indications and very thin turnover, dealers said on Thursday. De Beers retreated further on continued UK selling pressure, trading seven cents off at 468. Coppers were generally unchanged and platinums steady. Industrials were narrowly mixed
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    • Article
      Toronto
      307 7 TORONTO: The market closed mixed on Thursday In light trading following Wednesday's steep decline. Prices began to firm In the final hour of trading after a weaker session and the composite Index closed almost a point higher. Declines outnumbered advances 235 to 149, however. Gains In metals were largely
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    • Article
      New York
      1154 7 NEW YORK: Prices closed mixed on Thursday In heavy trading on the New York Stock Exchange as bargain hunters moved In an oil company stocks, reducing earlier losses. But the market's underpinnings remained somewhat shaky after Wednesday's surprise dividend cut by BctfcIsh— Steel Corp, a move that sparked
      1,154 words
    • Article
      Indices
      61 7 FINANCIAL TIMES INDUSTRIALS Thursday 440.2 Wednesday 434.5 Week Ago 433.9 DOW JONES AVERAGE INDUSTRIALS Thursday 893.71 Wednesday 888.43 Week Ago 931.71 LONDON DOLLAR PREMIUM Thursday 113* to 113* Wednesday 111H to 112 H.K. HANG SENG Thursday 414.95 Wednesday 413.50 Week Ago 422.48 ALL ORDINARIES Thursday 438.82 Wednesday 442.49 Week
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      Page 7 Advertisements Column 1
      382 7 BUSINESS TIMES Airline Directory 110-112 Shew Omtrt, Orchard Kn4, (Tel: 377.111) Air Ceylon 302-B, 3rd Floor, Marino House (WMAjui WAU fit omWiIWI f r (Tri: *****00) Ground Floor, ICB Budding. Shenten Way Singapore 1 (Tri: *****1!) IMi Floor, UIC Building, ShoiHon Way, Si»|o>»i» 1 (Tei: 2205.277) Air Now Zealand Ltd
      382 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      382 8 OPENING quotations on the Singapore rubber market yesterday were 0.25 cent higher following steadier London advices, but values eased fractionally on lack of follow through, dealers said. Past midday, however, weekend short-covering and some speculative buying hardened values further In quiet trading conditions. The morning
      382 words
    • Article
      Closing prices
      28 8 Rubber: July 29 Singapore: August 192.75 cents (up 0.50 cent) Malaysia: August 194.00 cents (up 0.50 cent) Tm: $1,416 (up $11) Official offering 195 tonnes (unchanged)
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    • Article
      R.A.S. PRICES
      311 8 Prices In cents per klio yesterday: Int. 1 R.S.S prompt f.o.b. Int. 1 R.S.S. August Int. 1 R.8.8. September Int. 2 R.S.S. UK/Cont. Int. 3 R.S.S. UK/Cont. Int. 4 R.S.S. UK/Cont. Int. S R.S.S. UK/Cont. 1 Buyers 181.00 182.50 183.75 180.50 188.50 186.75 185.75 182.75 181 75 178.75
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    • Article
      SSR AND SMR
      90 8 NOON S8R and SMR prices yesterday R.A.S. (Cuimt Mth) (Forward Mtk) Buyer* Salkn Buyen i Bdki (cnti 1 e (em tapwkf) SSR20 (1-ton Pallet) 190.50 192.SON 191.50 193.SON SSR50 (1-ton Pallet) 188 00 190.00N IM.00 191.OON M.R.E.L.B. SMR5CV (1-ton Pallet) 213.00 215.00 213.00 215.00 3MR5L (1-ton Pallet)
      90 words
    • Article
      Rice
      214 8 BANGKOK, Frl. Indicative prices quoted here were: (U8 dollar* per tonne fob basis Bangkok) Wnlte Rice: 100 per cent lit class 306 100 per cent 2nd 200 100 per cent 3rd 256 5 per cent 277 10 per cent 293 IS per cent 290 >0 per cent 247 29
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    • Article
      Produce exchange
      446 8 THE Singapore produce market yesterday dosed the week on a very quiet note as overseas buying interest remained generally at a low ebb. A barely steady condition ruled at the copra and coconut oil markets In line with the steadier trend ruling In the Chicago soybean market. Going
      446 words
    • Article
      Sugar
      238 8 LONDON, Frl. Terminal sugar was Irregularly easier yesterday afternoon. but staged a minor rally from the lows in late trading on Jobber short-covering and trade hedge lifting, dealers said. The tone was steady. Prices finished' £1.15 down from Wednesday night (near October at £113.25 bid) to £0.25 higher. Near
      238 words
    • Article
      Hongkong comex
      266 8 HONOKONO, Frl. The cotton futures market closed firmer in fairly quiet trading, dealers said. There was some short covering in March delivery, which rose 0.47 US cents. Aug 1 is a local public holiday, and the commodity exchange will be closed. HONOKONO cotton future* closing price*: Closing Pmbi
      266 words
    • Article
      Palm oil
      66 8 C.I.r. Rotterdam. US dollar* pi LONDON: sr ton. Tkn4aj> niil—■ Malaysia 5* ffa bulk September Sumatra 5% July Aug Sept Oct No* Nigerian 5* ffa bulk ROTTERDAM: Sumatra: August Zaire Belf francs per kilo 520 sir until 530 532 pd 510 pd unch unch unq 565 sir unq
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    • Article
      Cocoa
      189 8 LONDON, Frl. Terminal cocoa opened £17 per tonne down from last night (near September at £2,763 to £9.50 higher, having initially traded £30 lower In September at £2,750. On Thursday, terminal cocoa rallied in active afternoon trading, wiping out most of the previous losses and closing with gains of
      189 words
    • Article
      Straits tin market
      254 8 THE Btralts tin price In Penang yesterday was up $11 to 91,616 on an official offering unchanged at 105 tonnes. In LONDON yesterday,, tin In the morning row by around £107 Der tonne for cash and £93 for Three Months standard metal.; High grade was £110 and
      254 words
    • Article
      Coffee
      261 8 LONDON, Frl. Trade and commission house buying, aggressive at times and with a willingness to pay the asking price, pushed prices during the opening session well above yesterday's close. At end call values although down from their highest levels, were £117 to £64 stg per tonne up. 958 lots
      261 words
    • Article
      Soybeans
      102 8 CHICAGO, Frl. Boybean futures declined In early dealings yesterday, taking most new crop months to new lows. Soybean futures closed mixed, finishing the session at or Just below the day's highs. At the close, August was down 11 cents a bushel and September down IK cent but other months
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    • Article
      Wheat
      72 8 CHIC AGO, Frl. Wheat futures showed weakness In early trading yesterday and were down 2 1/4 to 3 3/4 cents a bushel after the first hour as they again reached new contract lows. There were 15,000 bushels of wheat delivered In the morning. Wheat futures In the afternoon dropped
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    • Article
      Market easier after fairly steady start
      301 8 AFTER a (airly steady start when week-end shortcovering and hedge buying Interest for forwards on currency considerations came In to provide support, easier conditions returned before the market checked to finish the session down some two cents on balance, said Holiday, Cutler a Beth
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    • Article
      Copper
      384 8 LONDON, m. Copper wire bars in the morning were unchanged for cash and £0.50 per tonne lower for Three Months. Values were marked down at the outset of the premarket reflecting the overnight decline In U8 futures and expectations of a further moderate Increase in LME stocks this week,
      384 words
    • Article
      Zinc
      100 8 LONDON, Frl. Zinc In the morning was £5 up for cash and £4.50 per tonne higher for Three Months. Traders said there was no fresh feature In this market Three Months traded at £321 and £322 per tonne In the ring which resulted In sales of 650 tonnes. On
      100 words
    • Article
      Lead
      64 8 LONDON, Frl. Lead closed yesterday afternoon mostly unchanged In both positions. Trade source 3 said this market recouped the morning's losses on short-covering in thin dealings. Three Months traded up to £323 per tonne In the ring where sales totalled 5,375 tonnes, mostly carries. Prices rose further on the
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    • Article
      Gold
      374 8 THE kllobar opened lover on the Singapore gold market yesterday at 3111,380 following a fall of US$l.4O per ot on the US market on Thursday. However, fairly good demand were seen at this level and g rices rose to a high of $11,395 before closing at 5511,380. The market
      374 words
    • Article
      Silver
      156 8 LONDON, Frl. Silver yesterday afternoon was three pence down for cash and 3.1 pence lower for Three Months. Market sources said K:es eased Initially followa slightly lower afternoon gold fix and Three Months traded down to 267.1 pence before short covering steadied prices to 267.5 pence per tory ounce
      156 words
  • MONEY AND EXCHANGES
    • Article
      Singapore
      436 8 DESPITE considerable Interest In overseas markets In the USI-yen trade, activity In the local forex market In the counter was at best selective yesterday. Dealers attributed this to the fact that most operators were uncertain which way the dollar would move. Opening at 285.70 yen, the dollar rose to
      436 words
    • Article
      Minimum lending rates
      55 8 ACBC First Chicago CH I <H Citibank m 1 Bangkok Bask 7 HSRC 14 1 •V. indosuex IU 1 Bank of China 7 Malayan tanking (H Bank of Tokyo l < Mitsui Bank Bank Nofara OCBC «v. Indonesia 7 OUB Chartered Bank CS UCB 7 Chase Manhattan
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    • Article
      Asian $ rates
      172 8 Asian rates ASIAN currency deposit interbank rates u at ckm on July 28 US Oolli O&m m(Spat) BM 7 days S 7/B S 3/4 1 mth 3/1 6 1/4 2 mth* i/i 3 mths 6 1/4 6 1/1 6 mths 1/2 6 3/8 9 mth* ft/16 7/16 12 mth* 11/16
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    • Article
      Discount
      7 8 mm* Source: National Discount Co. Ltd.
      7 words
    • Article
      Euro $ rates
      131 8 Euro rates LONDON, Frl. Trading on the Eurodollar deposit market was relatively heavy at the outset with the U8 money supply data and last night's rise In the U8 federal fund* rate giving strong upward pressure on rates, dealers said. Period rates opened up to 5/16 higher but then eased
      131 words
    • Article
      Frankfurt
      44 8 FRANKFURT exchanges opening quotes on July 29. VBtwn/m Can 2.1446/ 06 UK S9OO/ 870 Natb 93.37/ 47 Bwltl *4.10/ 96 00 Italy rise/ sw franca 48.86/ K Nor* 43.30/ 30 Bris com 8 .480/ 4W Bai« (In 8 42/ 43 Japan 0.8578/ W
      44 words
    • Article
      Treasury bills tender
      80 8 RESULTB of tender held on July 29 for 91-day, 182-day and 273-day Singapore Government Treasury bills: ti-euuiu to bateoad from 182-day bilii 27fr-day«a» Aug 1 to to b* t—uirt an to ba laauad an Ans* Aug 1 AOf I Oftarad: BW.OW.OW 114,000,800 110,000,000 AppUad tor. frU.IW.OM CS
      80 words
    • Article
      New York
      165 8 NEW YORK, Frl. The dollar yesterday closed with widespread gains after a volatile trading session which sparked New York Federal Reserve Bank smoothing Intervention in marks and Swiss francs, dealers said. rne dollar was marked sharply higher again in closing trading following news of an unexpectedly large $5
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    • Article
      London
      248 8 LONDON, Frl. The dollar firmed In early trading here after a rise in US Interest rates and a tump in US Ml money supply of $5 billion in the latest week, dealers said. Initial trading was nervous as operators sought to cover short dollar positions. Dealers said Eurodollar rates
      248 words
    • Article
      Tokyo
      140 8 TOKYO. Frl. The US dollar for overnight delivery closed at 266.30 yen, slightly lower than 266.50 at the opening but sharply higher than 265.05 at yesterday's close, dealers said. No central bank intervention was detected. An initial rise, reflecting a strengthening of the US unit abroad was followed by
      140 words
    • Article
      Hongkong
      97 8 HONGKONG, Frl. The US dollar was slightly above its New York close against most currencies In moderate trading, with local operators unwilling to take positions ahead of the long weekend, dealers said. Trie U8 unit firmed to 2.2872/82 marks from New York's midpoint equivalent close of 2.2860, and to
      97 words
    • Article
      Australia/NZ
      49 8 AUSTRALIA/NZ exchanges on July 29. Australia Sterling 6463/ 6420 US do&r 1.1M6/1 1901 Ninety-day air mail buying rate* Sterling 0 6674 US doUan 1.1904 Ninety-day forward buying rata*: Stertlng 0 6476 US dollar* 1.1147 New Zealand Sterling .5615/ 5564 US do Iter .6601/6701 Ninety rale: US dollar 1.604
      49 words
    • Article
      Zurich
      53 8 ZURICH exchanges closing quotes on July 28 US 2.3600-3600 UK 4.1600-1710 Can 2.3406-2510 W Own 100.00-06 NetU 60.74-00 Fnnee 40.57-01 Mg 0.02 2/4 03 3/4 Denm 60.37-43 Norw 46.74-76 Swed 66.34-36 Italy 0.3733-3734 Austria 14.06-00 Port 6 34-27 Spain 3.03 1/4-02 1/4 Arc 0 M-65 Japan 0 90 1/4
      53 words
    • Article
      Eurobonds
      324 8 LONDON, Frl. Straight US dollar Issues were lower in moderate to active trading while other Eurobonds traded mostly steady to firm in mixed conditions dealers said. Convertibles were steady to a shade harder after yesterday's sharp falls but trading remained quiet. LONDON Eurobond prices on July 29 Straight* Bid
      324 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      176 8 J IP* r i I iA rti ASIA RESEARCH BILLETIN This unique publication offers businessmen eoch month a comprehensive guide tp the latest developments that have taken place in all important sectors of the economies of countries in East ond Southeast Asia. The Bulletin is divided into six separate reports
      176 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon McDonnell Douglas deliveries decline
      167 9 Reuter ST. LOUIS, Frl. McDonneH Douglas Corp mid lower soles In the second quarter and first half this year were due to a continuing decrease in commercial aircraft deliveries. The company said four DC- 10s were delivered in the second quarter against eight a year earlier.
      Reuter  -  167 words
    • Article
      Lock icon US safety check on Leyland cars
      87 9 Reuter WASHINGTON, Fri. The US Transportation Department said it is two t British Ley land models for alleged safety problems. One investigation involves a suspected throttle cable problem on Triumph TR-7 cars made from 1975 to 1977, which caused the accelerator to stick in
      Reuter  -  87 words
    • Article
      OAA ready to fix air fares for S 'pore/Australia run
      950 9 THE Orient Airlines Association's (OAA) local committee, fresh from the success of Its standard fares' scheme for destinations in the Orient, is planning to establish an equally "realistic" fare structure for the Singapore/Australia route. "We will be working on this
      950 words
    • Article
      NYK Line
      317 9 SINCE It was established In 1885, NYK Line has operated and managed a large fleet of cargo liners on all major sea routes, linking the world's Important ports. NYK's full container service was Inaugurated with the Kamakura Maru in December 1971 and took part In forming the Trio
      317 words
    • Article
      Carter's decision under fire
      155 9 CANBERRA, Frl. A decision by President Carter to allow Continental Airlines to operate services to Australia was sharply criticised today by the Australian Transport Minister Mr. Peter Nixon. Mr. Nixon said he was disappointed that President Carter had approved the service although he said there was
      155 words
    • Article
      Jardine Shipping
      106 9 JARDINE BANDILANDS will change Its name to Jardine Shipping, with effect from August 1. This Is because the shipping department of Jardlhe Sandllands has decided that It would like to obtain a separate Identity from the marketing department of Jardine Sandllands. This Is ab that Its activities will
      106 words
    • Article
      Launching of NOL's second ro-ro vessel
      180 9 THE ANRO Consortium launched its second roll on/roll off (ro-ro) container vessel on Wednesday In Kobe, Japan. Mrs. Hon Bul Sen, wife of Singapore's Minister for Finance, launched the ship, built for Neptune Orient Lines (NOLj. Singapore's national carrier. The ship, named "Anro Temasek",
      180 words
    • Article, Illustration
      IN PORT
      326 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Al Raouf (2000 after Vega) 44 Bengloe (0600 after Pioneer Star ft Bunga Seta war) 1/2 Wmtk WlMrte (0630 hauls 10m West) 25/26 Chidambaram (0900 after Thai Rainbow fc Bunga Setawar) a/4 Eastern Poseidon (2300 after Yasuurasan Maru) 35/36 Ivan Goncharov (0700 tide
      326 words
    • Article
      Lock icon London freight market
      208 9 AP LONDON, Prl. North Atlantic grain rates remained on the weak side as shown yesterday by the acceptance of 94.85 (HO) by tne Jalavljaya" for a 43,000-tonne July-August movement from US Gulf to Holland or Belgium. Holland-Belgium was also the discharging range of the "Ocean Coracle" fixed
      AP  -  208 words
    • Article
      Lock icon Car output down in UK
      44 9 Reuter LONDON, Fri. UK car production fell to 96,000 In June, seasonally adjusted, against 124,000 In May and 112,000 in June last year, the Industry Department said. Commercial vehicle output fell to 20,200 compared with 35,400 and 30.900. Reuter
      Reuter  -  44 words
    • Article
      Alia becomes latest member of airlines' 'paupers' club
      366 9 NATIONAL AIRLINBB operated for the sake of prestige only, are bound to weigh their owners down, sooner or later, with Insurmountable financial burdens. The latest airline to join the "paupers' club". It would seem, Is Jordan's carrier, Alia. It has been forced
      366 words
    • Article
      Smooth going for US tyre makers
      216 9 NEW YORK, FYI. The U8 tyre Industry will continue to enjoy marginal growth In unit shipments, but higher dollar volume growth, as a result of greater- returns from radial passenger and truck tyres, Mr. Herbert Bchmals, president of Unlroyal Inc's Unlroyal Tire unit, told
      216 words
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      DAILY AIRCRAFT MOVEMENTS
      657 9 ARRIVALS SwIm Lml Opmi mr Niuabm TIm From CPA cxoos 0145 HKQ MAS MH682 0810 KCH CPA CX710 1000 HLP CAL CI814 1000 HLP OLA OA980 1090 HLP THAI T0423 1035 BKK 8IA 8Q2U 1045 HLP OIA OA944 1055 PKU OIA OA906 1100 MES PAL PR501 1115
      657 words
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      264 9 e\*s 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. The Open University
      264 words
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  • Article
    Lock icon Mexico faces choice of two impossibles
    810 10  -  FOR many years Mexico's trade unions have helped the government to hold the country stable, by keeping the workers reasonably happy. But inflation has burst this cosy relationship apart and faced the government with the ehoice between wage increases which it cannot afford or
    FT  -  810 words
  • Article, Illustration
    Fida, matchmaker to investors
    1286 10  -  CHARLES CHAN reports from Kuala Lumpur on the Amotions of the Registry of Potential Investors. CHARLES CHAN LOOKING (or a partner to start a lasting and mutually satisfying relationship? You can write to a government agency In Wlsma Damansara, and names will be scanned from Its
    1,286 words
  • Article
    Coping with misfortune on a tour
    633 10  -  By PETER KIERNAN IF TOU are on holiday In another country and you lose all your money through being fobbed or beaten up, what help would you get from your own national consulate? And what happens If you have to go to hospital or
    633 words
  • Article
    Banks kept in the dark
    2712 10 This is the fourth of a series of articles based on four months of research into GULF AND WESTERN INDUSTRIES, the worldwide conglomerate. It was reported and written by SEYMOUR M. HERSH, a Pulitzer prize-winning investigative reporter, and JEFF GERTH. IN ONE CASE now under
    2,712 words
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      235 10 THE HAMLYN PICTORIAL ATLAS OF THE WORLD A aiodern < or npre hens ive a'la no ft oii'.f indispensable ootii to student-, of qeoqraphy .Hid to qeneral reader who want to understand the new economic and political shape of the world H» tor the fir! time a 'Oust' fuscuiutuuj and
      235 words
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    Lock icon Expansion of foreign trade under Hua
    275 11 AFP HONGKONG, Frl. China's foreign trade Is expected to expand continuously under the leadership of Chairman Hua Kuofeng, the New China News Agency reported last night. The agency said VicePremiers Lt Hslen-Nlen and Yu Chiu-ll made the prediction at a national conference on foreign
    AFP  -  275 words
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    Lock icon India barters for crude
    146 11 AFP NEW DELHI, Frl. India has finalised a list of Items to be exported to the USSR In 1978-80 In return for Soviet crude oil. The composition of Indian export Items was finalised during the Justconcluded visit of a Soviet delegation led by Mr. Sakun, chief
    AFP  -  146 words
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    Lock icon Tokyo 'yes' to timetable
    238 11 AFP TOKYO, Frl. Government sources said Japan will accept the four-phase timetable agreed upon between the European Economic Community (EEC) and the United States to complete the Tokyo round of the multilateral trade negotiations by early next year. The Japanese Government for its part wants definite
    AFP  -  238 words
  • Article
    Lock icon HK £ reserve falls 7pc
    294 11 HK reserve falls 7pc Reuter. HONGKONG, Frl. The* sterling share of the Hongkong Government's external assets has fallen to around 12 per cent from about 19 per cent in early 1977, Informed financial sources estimated. The major factor In this further decline was the government's participation In the UK's offer
    Reuter.  -  294 words
  • Article, Illustration
    Tips on how to get the most out of ad money
    434 11 THE correct use of advertising dollar* can increase productivity many times. Studies have proved that one ad can be 10 to 20 times more productive thaa another costing exactly the same. This observation was made by Mr. Alan Croll,
    434 words
  • Article
    MEET ON STANDARD SIZE FOR TOILET ROLLS
    179 11 LOCAL manufacturers and importers of toilet rolls will be meeting soon to decide on the standardisation of their products. According to the latest Singapore Metrication Board newsletter, Our Metric Way, the first meeting of the working committee for the metrication of toilet rolls
    179 words
  • Article
    Lock icon Two-fold jump in Japanese June surplus
    643 11 Agencies TOKYO, Frl. The, Japanese monthly visible trade surplus more than doubled in June to U891.48 billion (8*3.6 billion) compared with May, the Finance Ministry said today. The revised figures also showed that Japan's balance of payments surplus rose to $600 million in June
    Agencies  -  643 words
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    Lock icon Enough rain for most grain areas
    433 11 AP WASHINGTON, Frl. Most of the world's major grain producing areas are getting adequate summer rainfall, but parts of Southeast Asia, Africa and South America can use more moisture, a US government report said yesterday. The National Oceanic and Atmospheric Administration said the US
    AP  -  433 words
  • Article
    Lock icon 'Take Sabah claim to World Court'
    735 11 Reuter MANILA, Frl. Former President Dlosdado Macapagal and other former leading opposition politicians today urged the Philippines to take Its claim to Sabah to the World Court or International arbitration rather than drop It altogether. The call by the former President, a prime mover
    Reuter  -  735 words
  • Article
    Lock icon Two to discuss issue
    187 11 AFP KUALA LUMPUR, Frl. President Marcos of the Philippines and Malaysian Prime Minister Datuk Hussein Onn will hold "top level" discussions on Babah, Forelfn Minister Tengku Ahmad Rlthauddeen said here today. Commenting on recent press'reports that the heirs of the Sulu Sultanate had renounced their claim
    AFP  -  187 words
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    Lock icon South Korea files complaint
    104 11 AFP SEOUL, rn. South Korea has deckled to lodge a complaint with the Oeneral Agreement on Tariffs and Trade (Oatt) against the British government's recent decision to restrict imports of black-and-white television sets from South Korea to 35,000 a year, It was learned here today. Korean
    AFP  -  104 words
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    Lock icon ANTHONY HOPEFUL OF SUGAR TALKS
    110 11 AFP CANBERRA, Frl. Deputy Prime Minister Doug Anthony will meet two top Japanese sugar officials tomorrow to try and break a stalemate In negotiations over a A 11,200 million (5J3.300 million) flve year sugar contract signed In 1972. Mr. Anthony said today the Japanese sugar
    AFP  -  110 words
  • Article
    Anyone for a $100,000 cleaning job?
    264 11 IN AN effort to hoop Ocean Building wtll ip»wd and •crubbed, property manager* Ocean Properties, a subsidiary of Straits Steamship Company, is looking for a suitable contractor to clean the facade of the building. The 28 storey building is owned by Straits Steamship. Ocean
    264 words
  • Article
    Yorkshire mission
    62 11 A WEST Yorkshire trade mission will visit Singapore and Malaysia between Sept 18 and 30. One of the participating companies Is T.F. and J.H. Bralme, which produces elevator buckets for grain handling, mining and quarrying. The company will be studying the market and will appoint local agents here.
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    Lock icon Taiwanese surplus will fall
    273 11 Reuter TAIPEH, Fri. Taiwan's 1977 trade surplus will fall to US$2BO million (3W77.fi million) from *490 million, according to Economic Planning Council (EPC) projections. Exports for 1977 will rise to $9.2 billion from $8.08 billion last year and will total $5.03 billion In second half 1977,
    Reuter  -  273 words
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    Lock icon Value of cotton textile exports
    303 11 AFP TAIPEH, Prl. Taiwan's exports of cotton textiles are expected to reach a value of US$3OO million (***** million) this year, according to the Taiwan Cotton Textiles Association. Statistics released by the association showed that exports of cotton products in the first six months of
    AFP  -  303 words
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    Lock icon LOWER AIR FARES
    66 11 AP. CANBERRA, Frl. Lower air fares will apply between Australia and Indonesia from Oct 1 this year, the Australian Departmwit of Transport announcH today. The main elements of a new fares package would be an excursion fare scheme and improved inclusive and group tours, It said. Excursion
    AP.  -  66 words
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      259 11 APPOINTMENTS HUGHES TOOL COMPANY (PAR EAST) PTE LTD is now seeking suitable applicants for the following positions: A. PRODUCTION CONTROL/ WORK STUDY MANAGER B. QUALITY CONTROL MANAGER C. PURCHASING MANAGER D. ACCOUNTS ASSISTANT E. TOOL KEEPER DESIRED QUALIFICATIONS: A. To plan, co-ordinate and control the processes of heavy manufacturing. Polytechnic
      259 words
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      310 11 zSUUJUjI] Applications are invited from suitably qualified citizens for the following positions in our expanding Marketing Division. PRODUCT MANAGER The Product Manager will be responsible for the complete marketing functions associated with a group of the company's glass products. He will be responsible for developing new products and new uses
      310 words
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    Lock icon France to limit Japanese car sales
    414 12 Reuter PARIS, Frl. France plans to ask the Japanese car industry to limit its exports to France, government sources said. Precise details remain to be worked out, but in general terms, the French lovernment would prefer a pan's share of the French market not
    Reuter  -  414 words
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    Singapore will not import pigs
    279 12 WITH the Ponggol farms now yielding more pigs for slaughter, Singapore is unlikely to Import pigs from Malaysia despite the lifting of export duty by the Malaysians. Disclosing this, Mr. Phua Kim Ming, the vicepresident of the Singapore Livestock Farmers' Association said many of the
    279 words
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    Lock icon EEC BARRIERS
    66 12 Reuter BONN, Frl. Leading West German Industrialist Wolff Von Amerongen yesterday condemned a growing tendency towards protectionism in the European Community. As president of the German Industry and Tr.-de Association, (DIHT), Mr. Von Amerongen wrote to EEC President Roy Jenkins saying that "unless energetic opposition Is offered, world
    Reuter  -  66 words
  • Article
    LONDON STOCKS
    701 12 LONDON, Frl. Stock prices closed mixed In thin trading, dealers said. At 3p.m. the FT index was down 0.3 at 439.9. Government bonds staged a slow recovery ahead of a possible new 'tap' stock announcement. Short-dated Issues were 3/16 up on the day while longs were 1/4 higher
    701 words
  • Article, Illustration
    Baring Sanwa's GM leaving for London
    238 12 BARING SANWA Multinational's general manager, Mr. Geoffrey Barnett, (above) will leave Slnga-, pore next month. He will be replaced by Mr. Nigel Melville who, like Mr. Barnett, is also from Baring Brothers and Co. In London. Mr. Melville, 32, is a chartered accountant. He
    238 words
  • Article
    Lock icon ADB CUTS LENDING RATE TO 8.3 PER CENT
    189 12 Reuter MANILA, Frl. The Manila-based Asian Development Bank today announced a cut In Its ordinary lending rate from 8.7 per cent to 8.3 per cent a year. This Is the second cut this year and applies to loans made since tne beginning
    Reuter  -  189 words
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    SILO wins claim
    45 12 THE Industrial Arbitration Court has awarded the Singapore Industrial Labour Organisation its claim for 520 members retrenched by Bethlehem Singapore last year. nils is for a 1% month's additional annual wage supplement, In addition to retrenchment benefits already paid to the workers.
    45 words
  • Article, Illustration
    Implications of POSB entry into EFT field
    1010 12 THE POST Office Savings Bank's revelation two weeks ago that it may go into "point-of-sale" terminals at supermarkets could have strong implications for the financial community here. It could mean that the POSB plans to start accepting commercial company accounts Instead of only
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  • Article
    Copyright proposal
    56 12 KUALA LUMPUR, Fri. The government may introduce legislation to make infringement of copyright a criminal offence. The Trade and Industry Ministry will make this proposal since the Copyright Act 1969 has been found to be Ineffective in f protecting the rights of ocal writers, artistes, publishers and those
    56 words
  • Article
    More NZ fairs to boost exports
    193 12 NEW ZEALAND Intends to participate in more trade fairs in the Asean region as part of its export promotion drive. This was disclosed by Mr. Mervln Mlssen, manager of the New Zealand Industries Trade Exhibition in Singapore, at its preview at the Shangri-La Hotel
    193 words
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    Lock icon Why food aid is suspect
    210 12 UPI PHILADELPHIA, Frl. Developing countries believe the United States wants them "dependent" because It gives them food instead of teaching them how to produce It themselves, says a soil scientist from the Sudan. The physicist. Dr. Mohamed O H. El Karourl, director of the Soba
    UPI  -  210 words
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    Lock icon Most economies improving: US
    157 12 AP WASHINGTON, Frl. "Apart from Japan where the economic climate Is still mixed, most other countries are showing strong Improvements,' says an overall economic review of Far East and south Asian economies by the U8 Commerce Department. Noting the exceptional Gowth rates attained in 70 by
    AP  -  157 words
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    Lock icon Fukuda to offer trade site to Asean
    383 12 Reuter TOKYO, Pri. Japanese Prime Minister Takeo Fukuda will offer Tokyo as the ilte for an Asean trade centre durtnf "hit visit to Kuala Lumpur next month, Japanese newspapers reported today. Government officials refused comment on the reports, which also said Mr. Fukuda
    Reuter  -  383 words
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    Lock icon JOY AS THE ARCTIC OIL FLOWS IN
    363 12 Reuter VALDEZ (Alaska), Fri. The first Arctic oil down the 1,300 km Alaska pipeline flowed into storage tanks at the Pacific Ocean port of Valdei today, signalling triumph Tor one of the most ambitious construction projects of modern times. Sirens walled to greet
    Reuter  -  363 words
  • Article
    Oil platform
    27 12 AVERY Laurence (Singapore) has completed a $12 million offshore platform for Exxon Production and Petronas for use in oil production in the South China Sea.
    27 words
  • Article
    Officials drawing up summit agenda
    534 12  -  •r QUEK PECK LIM KUALA LUMPUR, rrl. Senior officials of Asean met for five hours today on the first of three days scheduled for the drafting of the various agenda to be discussed at the Asean heads of government summit and their subsequent meeting with
    534 words
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    Lock icon No insider trading in Suisse stocks
    153 12 FT ZURICH, Frl. The Swiss National Bank says It Is no longer necessary to follow up rumours of Insider dealings at Credit Suisse. Last week, the National Bank had said it wanted to clarify allegations of such deals which were referred to In the
    FT  -  153 words
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      187 12 Give us a man now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency in a language they need. These courses are specially planned
      187 words