The Business Times, 17 August 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 WEDNESDAY, AUGUST 17, 1977 50CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Black pearl
      55 1 AP TEHERAN, Tues. Revenue from Iran's caviar exports Increased by 35 per cent during the past year, while annual production remained unchanged at 200 tonnes. Denying rumours that Income from the "black pearl" had dropped, Morteza Khatlbl, director of the Fisheries Organisation, said that on the contrary, the
      AP  -  55 words
    • Article
      Lock icon The real thing ...
      67 1 The real thing AP NEW DELHI, Tues. The employees of CocaCola bottling companies In India have urged the government to take over 22 Coca-Cola bottling plants In the Interests of the workers. The union, representing the 6,000 Coca-Cola employees In India, urged the government to take over the bottling plants
      AP  -  67 words
    • Article
      Lock icon Sterling rumours
      53 1 AFP LONDON, Tues. The Treasury today acted to quash rumours that the government would allow sterling to appreciate gradually. It denied there was any change In official policy and said the Bank of England Intended to hold the pound roughly at Its average value since the start of
      AFP  -  53 words
    • Article
      Lock icon Manila oil hopes
      76 1 AFP MANILA, Tues. The Philippines hopes to reduce Its over-dependence on oil from 94 per cent this year to about 72 per cent by 1087 under a massive energy programme, a government official said today. Energy Development Board executive director W.R. de la Cruz told a senatorial
      AFP  -  76 words
    • Article
      Lock icon Bakers arrested
      60 1 Reuter MADRID, Tues. Spain's top three bakery officials were arrested today after they cut the size of loaves by a third because the government prohibited a price Increase. The arrests came as the government fought to curb inflation which has already led to strikes by hotel, bar and
      Reuter  -  60 words
    • Article
      Kallang fire
      52 1 A FIRE caused damage, placed at $1.2 m and rendered 230 people homeless yesterday. It broke out in a row of shophouses between Nam Lock Street and Sin Koh Street, off Kallang Rd. The MP for Jalan Besar, Mr. Chan Chee Seng, visited the area after the fire
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    • Article
      Lock icon Dow Jones
      75 1 UPI NEW YORK, Tues. Stocks were mixed early today with the bargain hunting that helped strengthen the market late yesterday fading eary j£L thls session. Trading was moderately active. The Dow Jones Industrial average, up nearly two points at the outset following yesterday's 3.03 point advance, was off
      UPI  -  75 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      170 1 THE Stock Exchange of Singapore closed on a barely steady note amid intermittent bouts of buying support yesterday. At the close, the Business Times index was lifted 8.46 points to 405.31 while the Straits Times Industrial Index moved up 1.01 points to 265.54. Rises Most active G
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    • Article
      In Kuala Lumpur
      104 1 Rises Most octive P.M.C. 3.00 G. Ceramics 1.33 Oriental 2.20 AHItam 11.10 C. Sugars 3.68 Kramat 4.40 Kemayan 1.P2 Sgn Resins 0.95 B Ray a 1.47 Foils Sg. Besi 3.16 Llngul 0.78 K Kampar 2.70 Tronoh 4.90 Int. Wood 1.68 .20 .10 .10 .10 .08 .08 .06
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  • Article
    Cash running out at M. Credit
    1636 1  -  MYSTERY OF $100 M By QUEK PECK LIM THE SINGAPORE stock market is studying a $100 million mystery involving Malayan Credit which on Monday turned in its worst results in a decade. Shareholders and the market are puzzled by the way things have turned
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  • Article
    SES ASKS FOR ALL THE FACTS
    196 1 THE Stock Exchange of Singapore has asked Malayan Credit to explain the lifoifictnt differences between the company'■ half year results and the drastic performance it put up at In particular, the SES wants Malayan Credit to furnish an explanation and any material factors which
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  • Article
    . . . and still they buy
    84 1 and still they buy POOR result* notwithstanding, Malayan Credit will make yet another property purchase. In an announcement to the Stock Exchange, the company said that whollyowned subsidiary, Century, Gardens, has agreed to purchase 7.3 hectares of land in Johore Baru for $990,000 in caah. The agreement wn signed with
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  • Article
    Lock icon Manila petrochem project conditions
    156 1 Reuter MANILA, Tues. Foreign companies participating In a proposed US$5OO million (551.22 billion) petrochemical complex near here will be asked to guarantee that any output not absorbed by the domestic market will be absorbed by them* Informed sources said. They said this appeared to be the
    Reuter  -  156 words
  • Article
    Lock icon Company tax raised
    83 1 Reuter CANBERRA, Tues. The Australian Government has raised company tax to 40 per cent from 42-1/2 per cent. The increase will apply retroactively to 1900/77 income. Treasurer, Phillip Lynch, said in his 1977/78 budget speech that the government decided on the rise due to the very substantial
    Reuter  -  83 words
  • Article
    Role for S'pore capital mart in Asean projects
    302 1 SINGAPORE'S capital market can help facilitate the flow of foreign funds and aaaets to finance the key Aaean projects. Thia was aaid by Dr. Hank Lim, a lecturer at Nanyang University, in an article which appears in the latest issue of the
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  • Article
    Keppel to float $35m bond in October
    670 1 A MAJOR shipbuilding and ship-repairing company in Singapore is likely to float an Euro-Asian dollar bond Issue In October this year. Keppel Shipyard, the wholly government owned company, is expected to come Into the market again with a US$l5 million ($35 million) issue.
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      Page 1 Advertisements Column 1
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      Page 1 Advertisements Column 2
      24 1 w y ii w ';t w; r .fcj it- (>< Kiaiiiini m iJ j Sr I r? H I U <V JK 4 ?v V
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      3 1 SEE BACK PAGE
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  • OVERSEAS
    • Article
      Lock icon US to decide on acreage set-aside soon
      556 2 Reuter AFP WICHITA, Tues. The Carter Administration should announce within two weeks whether it Intends to implement an acreage setaside for the 1978 wheat crop, Assistant Secretary of Agriculture Dale Hathaway said. Mr. Hathaway, who spoke at the annual meeting of Great Plains
      Reuter; AFP  -  556 words
    • Article
      Price of American rice forecast to rise
      420 2 WASHINGTON, Tues. US Agriculture Department analysts foresee some price increases for American rice In the 1977-78 marketing year. The latest projections of agricultural supply and demand put the average season price between US$7 and US$7.5O (SSI7 and $18.30) per 50 kg. The average
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    • Article
      Lock icon Iran raps French company for power failures
      267 2 AP TEHERAN, Tues. Iran's new administration has sharply criticised a French production Arm for an alleged failure to provide a promised increase in electrical power production. In a statement from the Ministry of Water and Power yesterday, the government said a widespread 12-hour
      AP  -  267 words
    • Article
      Lock icon Soviets pushing sales of their patents
      438 2 AP MOSCOW, Tues. The Soviet Union, for years a major Importer of Western technology and know-how, Is now trying to establish Itself as an exporter of technology. Soviet salesmen are offering foreign businessmen about 1,000 Inventions and Industrial processes for use In factories, transport
      AP  -  438 words
    • Article
      Lock icon Resale mart will meet cotton needs
      460 2 AFP LONDON, Tues. The Soviet Union and Czechoslovakia will probably turn to resale markets to meet their requirements of Egyptian-type cotton, trade sources here said yesterday. Referring to Sunday's Egyptian ban on cotton sales to those countries, the source noted that this type of
      AFP  -  460 words
    • Article
      Lock icon Labour snags threaten production of the F-16s
      349 2 Reuter WASHINGTON, Tues. Delays caused by labour restrictions and other difficulties are threatening to disrupt the production programme of the F-16 fighter which is being co-produced In Europe and the United States, according to a Congressional report Issued yesterday. A Joint production agreement
      Reuter  -  349 words
    • Article
      Lock icon Chilean payments gap may hit $366m
      121 2 Reuter SANTIAGO, Tues. Chilean central bank foreign exchange department head Camilo Carrasco said the 1977 Chilean balance of payments deficit Is expected to rise to about US$l5O million (***** million) from Initial projections of $100 million as a result of lower copper earnings. He
      Reuter  -  121 words
    • Article
      Lock icon Look who Carter is consulting on Panama
      646 2 NYT WASHINGTON, Tues. President Carter stepped up his drive to muster bipartisan support for two new Panama Canal treaties yesterday by obtaining a qualified endorsement of the pacts from former Secretary of State Henry Kissinger and by making a personal appeal by telephone
      NYT  -  646 words
    • Article
      Lock icon Mine asteroids for minerals
      247 2 AP LA JOLLA, (California), Tues. The National Aeronautics and Space Administration Is being urged by 30 space scientists to mine asteroids as a source of raw minerals. Space agency spokesmen said at the conclusion of a meeting last week that the agency would support the idea.
      AP  -  247 words
    • Article
      Lock icon Carter meets Lance
      90 2 Reuter WASHINGTON, Tues. President Carter yesterday held his first business meeting In two weeks with United States Budget Director Bert Lance, whose financial affairs as a private banker are under government scrutiny. The Investigation could prove an embarrassment to the Carter Administration, in view of the President's
      Reuter  -  90 words
    • Article
      Lock icon Oil strike in northern Colombia
      83 2 Reuter BOGOTA, Tues. Colombia's state oil company Ecopetrol has discovered an oil deposit In northern Colombia expected to yield about 10.000 barrels dally of top quality crude, Ecopetrol sources said here. The sources were commenting on a statement by Colombian Mines Minister Miguel Urrutla last
      Reuter  -  83 words
    • Article
      Lock icon Uranium export
      65 2 AFP OTTAWA, Tues. The Canadian government will welcome the emergence of Australia as a major uranium exporter If that country keeps tough safeguards on use of the nuclear fuel, a spokesman for Canadian Energy Minister Alastalr Gillespie said here yesterday. Government officials In Canberra reported on Sunday that
      AFP  -  65 words
    • Article
      Lock icon Prime rate
      29 2 Reuter CHICAGO, Tues. The First National Bank of Chicago said It is maintaining its prime rate at 6\ per cent for the balance of the week. Reuter.
      Reuter  -  29 words
    • Article
      Lock icon Output rises at a slower pace
      120 3 AP Reuter WASHINGTON, Tues. America's output rose at a slower pace last month, the government said yesterday. This confirmed forecasts of a slight slowdown In economic growth. The July Increase, at 0.5 per cent, was down from the rise of 0.7 per cent In
      AP; Reuter  -  120 words
    • Article
      Lock icon Congress panel says growth outlook is bleak
      748 3 NYT WASHINGTON, Tues. The Congressional Joint Economic Committee published a rather bleak assessment of the nation's economic prospects yesterday, asserting that President Carter's long-range goals probably cannot be met. The committee chairman, Representative Richard Boiling, said In issuing the report that the key
      NYT  -  748 words
    • Article
      Lock icon Bank of England eases shortage
      166 3 Reuter LONDON, Tues. The Bank of England bought more than £250 million (551.06 billion) of Treasury bills and up to £50 million of local authority bills, as well as lending overnight £50 to CIOO million to four or five houses at minimum lending rate to
      Reuter  -  166 words
    • Article
      Lock icon Swedish trade deficit
      119 3 Reuter STOCKHOLM, Tues. The Central Bureau of Statistics said first estimates for July showed a Swedish visible trade deficit of 800 million crowns (***** million) against a 400 million crown surplus in June. The bureau said preliminary estimates showed July exports of five billion crowns against Imports
      Reuter  -  119 words
    • Article
      Lock icon Higher gold output
      53 3 Reuter JOHANNESBURG, Tues. South Africa produced 59,846 kg of gold In July against 59,232 kg In June and 60,175 kg in July last year, Chamber of Mines figures show. Production in the first seven months of the year totalled 401,103 kg against 408,069 kg In the year
      Reuter  -  53 words
    • Article
      Lock icon FED ENTERS MARKET
      137 3 Reuter NEW YORK, Tues. The Federal Reserve Bank of New York has Just entered the government securities market to drain excess bank reserves through overnight reverse repurchase agreements with federal funds trading at 5 15/16 per cent, dealers said. They said the action further confirms the Fed's
      Reuter  -  137 words
    • Article
      Rivalry from Japanese nags Europeans
      230 3 WASHINGTON, Tues. Europeans are cashing In on trade with Africa but some are worried about competition from the Japanese, says US News and World report. The French, are doing especially well and expect to do even better because of their financial edge In some African
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    • Article
      Lock icon Peru to resume standby talks
      203 3 Reuter LIMA, Tues. Peru will resume negotiations for a standby credit with the International Monetary Fund (IMF) next month, Peruvian officials told a visiting US Congress delegation. Mr. Gus Yatron, a member of the delegation, said Peru's financial problems figured prominently in talks with the
      Reuter  -  203 words
    • Article
      Lock icon Banks hike rate
      86 3 Reuter TORONTO, Tues. Toronto Dominion Bank said it raised its US dollar base lending rate to 7<4 per cent from seven per cent, effective yesterday. The rate Is the minimum level at which the bank Is prepared to lend US funds In Canada. Canadian Imperial Bank of
      Reuter  -  86 words
    • Article
      Lock icon JUANITA KREPS FOR SEOUL
      112 3 AFP WASHINGTON, Tues. Secretary of Commerce Mrs. Juanita Kreps will visit South Korea and Japan at the end of September, It was announced here yesterday. In South Korea, Mrs. Kreps will lead the US delegation to the eighth Korea-United States Commerce Ministers' meeting on Sept 28-30.
      AFP  -  112 words
    • Article
      Lock icon US will buy its yen from forex markets
      290 3 UPI AFP WASHINGTON, Tues. rhe United State* will buy yen for official US needs in the foreign exchange markets instead of direct government-to-government transactions, the Treasury Department said yesterday. The Treasury uud Japan and the United States reached formal agreement on transactions
      UPI; AFP  -  290 words
    • Article
      Lock icon Soviet oil output will sag in next decade: CIA
      377 3 Reuter WASHINGTON. Tues. Soviet oil production will start declining In the next decade and will need an Infusion of Western financing and technology to tap new reserves, according to US intelligence estimates released yesterday. The dwindling production will mean Soviet leaders
      Reuter  -  377 words
    • Article
      Lock icon Pipeline: Pick Canada route call
      146 3 Reuter WASHINGTON, Tues. Senate banking committee chairman William Proxmlre urged President carter to approve the proposed trans Canadian pipeline route for Alaskan natural gas headed for the 48 American states. Choosing an alternative proposal for an all-US combined land and sea route would compound the
      Reuter  -  146 words
    • Article
      Lock icon 'Rigged' stock mart probe
      129 3 AFP MADRID, Tues. The government has announced It will Investigate reports that the Spanish stock market. Is being "rigged" by the country's most conservative financial powers to give a distorted picture of Spain's economy. Mr. Manuel Jimenez de Parga, the Minister for Labour and Trade Union
      AFP  -  129 words
    • Article
      Lock icon Brazil devalues
      76 3 AFP RIO DE JANEIRO, Tues. The Brazilian Central Bank yesterdav announced the ninth devaluation of the cruzeiro this year, with a 1.72 per cent drop against the US dollar as of today. The new buying and sell- ing rates for the dollar will be 14.74 and 14.81 cruzeiros
      AFP  -  76 words
    • Article
      Lock icon Retail sales rise
      107 3 Reuter LONDON, Tues. UK retail sales rose a provisional 3.6 per cent in July over June, the Trade Department said. But officials said the June figure, revised down to 103.8 from the provisional 104.5, base 1971, may have been depressed by the postponement of cut-price sales into
      Reuter  -  107 words
    • Article
      Lock icon FUTURE OF OPTIONS MART HINGES ON MEET
      181 3 Reuter WASHINGTON, Tues. A Commodity Futures Trading Commission (CFTC) budget meeting on Thursday will have an Important bearing on the future of commodity options trading in the US CFTC officials said. CFTC chairman William Bagley has said he will personally recommend a ban
      Reuter  -  181 words
    • Article
      Lock icon Schilling policy
      75 3 Reuter VIENNA, Tues. Austrian Chancellor Bruno Krelsky said he does not want Austria to abandon Its hard schilling policy, but suggested the schilling should not follow the mark too closely. He told a press conference that, In his opinion, some regard should be paid to the development of
      Reuter  -  75 words
    • Article
      Lock icon Swiss up
      44 3 Reuter BERNE, Tues. Switzerland had a trade surplus of 5.4 million francs (555.4 million) in July compared with a deficit of 146 million francs in June and a surplus of 78 million francs in July last year, the Federal Customs Office said.
      Reuter  -  44 words
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      52 2 THE WEATHER WEATHER report for 24 hour* prior to 7.30 p.m. on Aag 16 at Singapore airport. Maximum Temperature 29.7 °C Associated Humidity 75 Minimum Temperature 23.8 °C Associated Humidity 99 Hours of Sunshine 5.20 Biinfill in Millimetres 25.0 Total Rainfall for the Month 112.6 Total Rainy Days for the
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      245 2 SINGAPORE 5 3.00 P.M. Opening followed by Classic Keystone Comedy Capers 3.25 Diary of Events (Malay) 3.30 Wild, Wild World of Animals Leopard (Repeat) 3.55 Stars in Action The Direct Approach 4.20 Intermission 6.00 P.M. Opening followed by Electric Company 6.30 News in Brief 6.35 Last of the Wild-Hippopotamus Rampaian
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  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      643 3 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 4 Tip for a smoke-screen (6) 7 Peg all dry (8) 8 Musical Interval (6) 10 Of which to build an abode (5) 13 Rush straight towards Billy (4) 14 Another form of a nut that's edible (4) 15 Coast makers (4) IS Where Jim
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  • COMPANY NEWS
    • Article
      Keck Seng off to a good start
      749 4 KECK SENO (Malaysia), which was officially listed on the Stock Exchange of Singapore in May this year, reported an Impressive set of interim figures yesterday. For the first six months ended June 30, 1977 the Malaysian plantation group achieved a 147 per cent
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    • LATEST RESULTS
      • Article
        APOLLO ENTERPRISES
        22 4 Unaudited pre-tax profit $1.7 million ($475,000) for the first six months ended June 30, 1977. Turnover $5.55 million ($4.29 million).
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      • Article
        King's Hotel
        29 4 Pre-tax profit $479,019 ($239,327) for the first half-year ended June 30, 1977. Turnover $2.04 million ($1.85 million). Average room occupancy rate 88.34 per cent (86.18 per cent).
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    • Article
      Auditors qualify Pacific Development figures
      1282 4 PACIFIC DEVELOPMENT Credit's belated 1976 annual report showed a set of audited figures substantially different from its unaudited preliminary accounts and with two serious qualifications by Its auditors. Against an unaudited net attributable group profit of M 52.55 million, the audited accounts for the year
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    • Article
      F. Cables rationalisation plan makes little headway
      420 4 THE rationalisation programme launched last year at Federal Cables, Wires and Metal Manufacturing appears to have made little headway In the current year. Apart from the reasonable progress achieved by the parent company, the subsidiaries continued to operate in the red In the
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    • Article
      DIVIDENDS ANNOUNCED
      282 4 Current Ex Date Total for Total for payment Date payable the year previous year Singapoie Glass 10% July 29 Aug 19 10% 5% George Kent 12% July 21 Aug 26 12% 10% Malaysian Tobacco 15%I July 28 Aug 29 15%I 50% Island ft Pen. 8% Aug 11 Aug
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    • COMPANY MEETINGS
    • Article
      Lending rules ease but the grouses will still be there
      1179 4 KUALA LUMPUR, Tues. With their high liquidity Malaysian banks are more than willing to expand their loan portfolio. This makes It unlikely that loan requests for viable projects will be turned down. Yet one still hears of complaints that loans
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    • Article
      Only old stocks and machinery left at Sanshiba
      328 4 SANSHIBA Electronics, the wholly-owned subsidiary of San Holdings, had only some old stocks and obsolete equipment left when the decision to windup the company was made on June 28 this year. Replying to queries from the Kuala Lumpur Stock Exchange on Its
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    • Article
      Supreme Corp sells leases for M$1.45 m
      345 4 SUPREME CORPORATION has sold some of Its tin mining leases to Capitol Mining for a total cash consideration of MS 1.45 million. The sale was made under two separate agreements. The first relates to the sale of 97.75 acres for a cash consideration
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    • Article
      CHICAGO BOARD OPTIONS
      1587 4 On Aug 15 TRADING In options on the Chicago Board Options Exchange came to 78,752 contracts on Monday compared with 74,287 contracts on Friday. OPTION OCT JAN APL 8TOCK Alcoa Alcoa Am Exp Am Exp AmTeT Am Tel Am Tel AUR AUR Avon Avon Bank Am Bank
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Dutch company bids for Miller-Wohl
      306 5 NORTH AMERICAN COMPANIES NYT C AND A Brennlnckmeyer, the large Netherlandsbased holding company, which In 1962, bought the Ohrbach's stores, has reportedly made a bid of US$l6O million to purchase the Miller-Wohl Company, a chain of 142 women's apparel shops, mainly In the middle west
      NYT  -  306 words
    • Article
      Lock icon Fiscal agent to offer US$1b bonds
      166 5 Reuter THE fiscal agent for the Banks for Cooperatives and Federal Intermediate Credit Banks said it plans concurrent offerings of US$l.32 billion of bonds for the two systems tomorrow. The offering will comprise *419.1 million six-month Banks for Cooperatives bonds, due March 1, 1978
      Reuter  -  166 words
    • Article
      Lock icon Great Atlantic
      33 5 Reuter GREAT ATLANTIC and Pacific Tea Co said it reached tentative agreement on a private placement of US$lOO million of 91/2 per cent, 15-year notes with Equitable Life and Prudential. Reuter.
      Reuter  -  33 words
    • Article
      Lock icon Why Sinclair board omits payout
      89 5 Reuter SINCLAIR VENEZUELAN OIL said directors omitted a quarterly dividend because of low earnings and continuing uncertainties. The company. 97 per cent owned by Atlantic Richfield, said various claims It has brought against Venezuela since nationalisation are still unresolved. The company earlier reported that first
      Reuter  -  89 words
    • Article
      Lock icon Dangers of eliminating off-board trading rules
      126 5 Reuter AMERICAN Stock Exchange chairman Paul Kolton told the Securities and Exchange Commission that elimination of offboard trading rules could cripple the nation's exchange system and make it impossible to create a national market system. Mr. Kolton said elimination of these rules is likely
      Reuter  -  126 words
    • Article
      Lock icon Dresser optimistic
      55 5 Reuter DRESSER INDUSTRIES said it expects fiscal 1977 year results to substantially exceed year ago earnings of 554.19 a share on revenues of $2.23 billion. It based its projection on the level of incoming orders, current backlogs and shipping schedules, in addition to Its acquisition of Marlon Power
      Reuter  -  55 words
    • Article
      Lock icon Pressure on Heinz to cancel wage rise
      631 5 EUROPEAN COMPANIES NYT LONDON. Tues. The H.J. Heinz Company has come under pressure to cancel a wage Increase granted workers far In excess of the government's target for avoiding a new wage explosion. Heinz had been one of Just two companies in Britain
      NYT  -  631 words
    • Article
      Clayton Dwandre slightly higher
      94 5 LONDON, Tues. Pre-tax profit at Clayton Dwandre Holdings rose to £1.87 million on sales of £27.03 million for the half-year ended June 30, 1977 from £1.59 million and sales of £19.67 million previously. The company said the pre-tax profit included earnings of £311,000 (£206,000) from associate
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    • Article
      ICI Int'l Finance
      58 5 LONDON. Tues. ICI International Finance plans to issue US$lOO million of convertible bonds guaranteed by and convertible Into the ordinary stock of its parent company, Imperial Chemical Industries, a spokesman for lead manager S.O. Warburg said. The bonds are expected to carry an annual coupon of 63/4
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    • Article
      Lock icon Euroloan for CNAN three LNG carriers
      145 5 Reuter LONDON, Tues. Compagnle Natlonale Algerlenne De Navigation (CNAN) yesterday signed a US$lOO million seven-year Euroloan, Citicorp International Bank said as Joint lead manager and agent bank. Margin Is 1 5/8 per cent over six months London Interbank Offered Rates, and the funds will
      Reuter  -  145 words
    • Article
      Lock icon Marina production to roll again
      140 5 Reuter LONDON, Tues. British Leyland said It is restarting production of Marinas at Cowley, recalling 4,000 men laid off last week. But production of the Princess model at Cowley and the MG at Abingdon is still halted, with 2,000 workers laid off. The disruption stems
      Reuter  -  140 words
    • Article
      Lock icon S. Africa blocks Anglo American takeover bid
      1138 5 NYT JOHANNESBURG, Tues. Relations between the South African government and the country's largest business enterprise, Harry Oppenhelmer's Anglo American Corporation of South Africa, often uneasy In recent years, have been restrained anew by the government's controversial decision to block a US$345 million deal
      NYT  -  1,138 words
    • Article
      Lock icon Boeing proposal under study
      82 5 Reuter LONDON. Tues. A British Aerospace spokesman said Boeing's offer of British production leadership on the stretched 737 will be considered as one option amongst several being considered by a Joint working part of aerospace companies of four European countries. The spokesman said Boeing has offered
      Reuter  -  82 words
    • Article
      Algemene raises dividend
      90 5 AMSTERDAM, Tues. Buoyed by a 14.4 per cent rise in its first half's earnings, Algemene Bank Nederland NV has raised its interim dividend to 11.5 guilders from 11 guilders previously. The payment will be made fully in cash or as 5.25 cash (6.20) and 2.50 guilders (two)
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    • Article
      H. Quebec
      65 5 ZURICH. Tues. HydroQuebec plans a public bond Issue for 80 million francs, around the end of the month, bond market sources said. Conditions have not yet been fixed. The bond Is the latest of a series of borrowings In Europe, including a 300 million Swiss franc private placement
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    • Article
      Lock icon S. Western Bell, ATT targets of lawsuit
      691 5 NYT SAN ANTONIO. (Texas), Tues. Detailed allegations of Illicit sex and financial wrong doings In the South-western Bell Telephone Company began unfolding In court here last week, nearly three years after the first hints of the case became public. The company, one of
      NYT  -  691 words
    • Article
      More Eastern insurance interests go public
      426 5 LONDON, Tues. The insurance Interests wrapped up Inside yet another British-owned 'Eastern' trading group mav swim more into the public and market view following an important stock Issue In London last week. Varied developments in recent months have focussed interest on broking, agency and
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    • Article
      Lock icon MIM
      31 5 Reuter BRISBANE, Tues. Mount Isa Mines said it cut its price for copper, equivalent wireI bar basis main Australian ports, to A$ 1,080 a tonne from $1,100 from Aug 13.
      Reuter  -  31 words
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      Page 5 Advertisements Column 1
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      Page 5 Advertisements Column 2
      163 5 Our calculators won't add anxieties. That's important. Anxieties about office machines can make the office efficiency lower. And profits. Olympia Calculators don't require doublechecking. And because readings are always done with ease and accuracy, you can trust them. They are from, afterall, one of the world's largest and most reputable
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  • Article
    Share Information Service
    2331 6 Gr'» Gr'i Not 1*77 Last div Div y'M P/E Vol Day High Low Company Sale +or- c'vt <*•••> Higk Low SECTION ONE INDUSTRIALS 154 136 Acma 145 12.0N 1.8 8.2 6.8 204 172 Alcom 172 10.0 0.5 5.8 27.7 06 58 Allied Choc 80 +1 17.8 11
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  • Article
    Transactions in Singapore
    1417 6 BID and offer prtew officially listed and business in and reported to the Stock Escb*n(e of Singapore yesterday with the number of shares traded shown in brackets in k)U of 1000 units unless otherwise specified All Time Settlement Contracts are quoted after the word "Sett." Bta Board
    1,417 words
  • Article
    In Kuala Lumpur
    1678 6 BID and offer price* officially Usted i and business In and reported to the I Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in bracket* In lots of 1,000 units unless otherwise specified.. INDUSTRIALS AIIMMU (2.028). AI Mm (1.908). A. Chat (0918). A.P.I.
    1,678 words
  • Article
    Stock options
    57 6 STRIKING prion of Uw Mock option* officially Uatod oa the Stock Czchmfc of Siafaporo, the periods, bid aad offe* prices aad busiasas done yootorday. with the number at option* traded thewa in brackets. Incbcape (Sept 12.40) (2) 0.20. (Dec $2.40) (0.268). (Mar $2.40) (0.S1B). U O B (Dec
    57 words
  • Article
    Unit trusts
    144 6 SINGAPORE UNIT TRUST INCOME BOND UNIT INuim' price for Aug 17) (Currsat pi riceo) The Commerce 1.72 1.82 INCOME BOND 1.07 1.13 The Saving Fund S pore Prof Fund 1.00 0.85 1.08 0.90 MARA BUMIPUTRA FUND S pore Security Fund 1.47 1 55xd First Bumlputra 2.19 <» 2.24
    144 words
  • Article
    CORPORATE BONDS
    165 6 B O T 8 1/2% 1981 (100.000) (103 Viß 103*«S) B O T 7 VB% 1984 (100.000) (99*8 99*S) LTCB J 1982 (100,000)(98*B 995) Credit Lyonnais Floating 1983 (100,000) (98V«B DBS Converts 6 1/2% 1991 (100,000) (98*B 98SS) D B S 8 1/2% 1982 (100,000) (101HB 102*S) E
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  • Article
    GOVERNMENT BONDS
    118 6 Rep Spore D Mark 7% 1982 (loo.ooo) (ioib ioi y'tS) Rep Spore 6 1/2% 1983 (100,000) 100*S) Rep Spore 7 3/4% 1987 (100,000) (100*B 101 *S) 5 1/4% 15/7/78 f250,000) (101 40S) (2) 101.30 4 3/4% 1/5/79 (250.000) (100.85S) (2) 100.75 5 1/4% 15/10/79 (250,000) (101 90S) 5%
    118 words
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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
    SLOWER TRADING
    699 7 INTERMITTENT bouts of buying support made for a generally improved trend at the Stock Exchange of Singapore yesterday. Volume was still concentrated in about 20 counters, mainly in the second section of the market where only ready deals are allowed. Short-covering ahead of the resumption of Big Board
    699 words
  • Article
    PRICES PICK UP ON KLSE
    314 7 SHARE prices recovered slightly on Improved buying sentiment on the Kuala Lumpur Stock Exchange yesterday. Initially, the market ruled easier and irregular, especially during the first hour or so, with marginal losses carried over from Monday's weaker trend. However the return of some small buying
    314 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      335 7 HONGKONG: The market closed steady tn quiet featureless trading with leading shares narrowly mixed, dealers said on Tuesday. The Hang Seng Index rose 0.74 point to close at 419.01. Bank rose 20 cents to *17.80, while Hongkong Land and Swire Pacific lost five cents each to $6.65 and 90.10
      335 words
    • Article
      Tokyo
      519 7 TOKYO: The market rose sharply to a new year's high on fresh Interest In export-oriented blue chips, dealers said on Tuesday. The Dow Jones, average gained 29.57 to close at 5,231.58 with volume 500 million shares. The new index closed at 383.71, up 0.78. Electrlcals, motors precision Instruments and
      519 words
    • Article
      Sydney
      408 7 SYDNEY: Uraniums were mixed on Tuesday following Monday's sharp rises, while other stocks were generally firm ahead of today's budget, dealers said. The Sydney All-Ordinaries index rose 0.47 point to close at 441.86. Paacon tiara tal fell 90 cents to $9 80, Queensland Mine* lost four cents to $2.86
      408 words
    • Article
      Manila
      163 7 MANILA: The market closed lower with all averages falling on higher turnover, dealers said on Tuesday. Turnover rose to 4.12 million pesos from Monday's 2.38 million. Atlma fell five points while Mtrinduque and Philex lost three and two points respectively on lower metal prices abroad. Most leading oils declined
      163 words
    • Article
      Bangkok
      106 7 AUG It Bants Alia Fibre 210 -S Bangkok Bank 381 unch Bangkok Invest 282 ♦2 Bangkok-Metro-politan Bank raw unch Bata MO ♦5 Berll Jucker 406 ♦4 Charoong Thai ♦t Wire 184 Dumex Duslt Thanl Faber Merlin Flnt Trust 1#SS Indo-Thal Industrial Finance Corp ***** unch J And J Ho
      106 words
    • Article
      Amsterdam
      229 7 AUG IS FU Ahold 92.SO ♦0.7 Akzo 30 20 -0.8 Algbank 321 50 +1.7 AMEV #3 00 +0.4 Am fas 87 80 +0 1 Amrot Bank S8 90 +02 iST 101.50 -1.3 Bols 82 70 +0.1 BorsumlJ 129 70 +0.2 Burhmann 75 00 unch Byenkorf 75 30 +0 3
      229 words
    • Article
      Zurich
      293 7 ZURICH: The market was Irregular in livelier trading, apart from special situation stocks on Monday. Leu AG advanced in otherwise little changed major banks. In flnanclals Bally featured among gainers with both bearer and registered Sharsb continuing sharply higher following a report that financier Mr. Rey may be ready
      293 words
    • Article
      Jo'burg
      363 7 JOHANNESBURG: Oold shares were easier in line with the lower bullion price and on London selling, dealers said on Monday. Trading was quiet. Heavyweights lost up to 75 cents while medium and lightweight counters shed up to 25 cents. Mining flnancials were softer in line with producers. Copper and
      363 words
    • Article
      Toronto
      302 7 TORONTO: The market closed mixed in moderate trading on Monday. The composite Index was unchanged but declines led advances 204 to 194. The gold index was off 24.3 points after a sharp decline In the bullion prlc. Among companies reporting earnings. Turbo Resources shed five cents to $4.70. Neone*
      302 words
    • Article
      New York
      1165 7 NEW YORK: Late bargain hunting in the blue chips and glamour sectors helped the stock market recover earlier losses as prices ended the year's slowest trading session on a firm note on Monday. Prices turned lower after the opening under the weight of interest rate worries and continued
      1,165 words
    • Article
      Indices
      69 7 FINANCIAL TIMES INDUSTRIALS Monday 476 4 Friday 472 5 Week Ago 481.6 DOW JONES AVERAGE INDUSTRIALS Monday 874.13 Friday 871.10 Week Ago 879.42 LONDON DOLLAR PREMIUM Monday 88H to 89 Friday 87% to 87% H.K. HANG SENG Monday 4.18.27 Friday 419 26 Week Ago 421 43 SYDNEY INDUSTRIALS Monday
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    • Article
      Lock icon Woodwards chief steps in to help boost earnings
      960 7 NYT VANCOUVER, Tues. Charles Namby Wynn Woodward likes to breed champion quarter horses and to ride the range of his 202,343 hectares Douglas Lake Ranch, one of Canada's largest spreads devoted to cattle raising. Being chairman and chief executive of Woodward Stores,
      NYT  -  960 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      509 7 BUSINESS TIMES Airline Directory Aerofiot Soviet Airlinos 110-112 Shaw Centre, Orchard Rood, (Tel: 377.111) Air Ceylon 302-1, 3rd Floor, Morino House S hen ton Way, Singapore (1) (Tel: *****BB) Ground' Floor, ICS tuiW.no, Shenton Way Singapore 1 (Tol: *****11) 16th Floor, UIC (Tel: 2205.277) Building, Shenton Way. Singapore 1 Air
      509 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      402 8 THE Singapore rubber market opened fractionally lower, then lost further ground on lack of buying interest and some forward offerings, dealers said. Volume was small. Prices eased during the morning in very quiet trading, with September One RSS buyers closing at 194.25 cents per kilo,
      402 words
    • Article
      Closing prices
      29 8 Rubber: August 16 Singapore: September 194.25 cents (down 0.75 cent.) Malaysia: September 195.25 cents (down 0.75) Tin: 51,672 (down $8) Official offering: 212 tonnee (up 27 tonnes)
      29 words
    • Article
      RAS PRICES
      309 8 Prices In cents per kilo yesterday: Noon Cloae (per kilo) (per kilo) Int. 1 R S.S prompt f.o.b. Buyers Sellers Buyers Sellers 191.50 192.SON 191.50 192.SON Int. 1 R.S.S. September 194.25 194.75 194.25 1M.7S Int. 1 R S S October 196.50 197.00 196.50 197.00 Int. 2 R.S.S. 192.00
      309 words
    • Article
      SSR AND SMR
      95 8 NOON SMR prices yesterday Sai itMnlMr Octafcar HAS (Current Mtk) (Forward Mth) Buyari I SclW. Boy. ra Saliara (caai taparkf) (caala par kg) SSR2C (1 ton pallet) 192.30 194. SON 193.50 195 SON SSR50 (1 ton pallet) 100.00 192.00 191.00 193.00N MRELB SMRSCV (1-ton pallet) 213.50 215.50N
      95 words
    • Article
      Hongkong comex
      308 8 HONGKONG, Tues. The cotton futures market closed easier in quiet trading, closely in line with the overnight decline in New York, dealers said. Trading centred on March, which on commission house stop-loss and new selling, closed 0.87 US cents lower. Other months lost 0.87 to 1.16 cents on
      308 words
    • Article
      Produce exchange
      482 8 EASIER conditions persisted In most sectors or the Singapore produce market yesterday as pressure to sell mounted In the overseas markets. Copra and coconut oil passed from $2 to S5 lower a plcul in very thin trading, mainly on book-squaring and consumer accounts. There remained a reserve pool
      482 words
    • Article
      Coffee
      338 8 LONDON, Tues. Coffee futures opened £33 to £22 below yesterday's close In very quiet dealings. Only 209 lots were traded. The November position traded In a narrow £20 range, slipping to £2,430, then moving to £2,450 before closing at a middle price of £2,442. Prices fell Initially under light
      338 words
    • Article
      Palm oil
      72 8 C.I.F. Rotterdam. U8 dollars per ton. LONDON: M r Malaysia 5% ffa bulk: Oct Sumatra 5H: Aug Sept Oct Nov Dec January Nigerian 5% ffa bulk ROTTERDAM: 457 sir SQ2.SO sir 490 sir 405 sir 455 sir 450 sir 450 sir unq 515 sir 5(2.50 sir 502.50 sir
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    • Article
      Sugar
      248 8 LONDON, Tues. Terminal opened £1.65 to £1 per tonne down from yesterday afternoon closing levels. Sales totalled 474 lots. Dealers said prices moved lower under trade and commission house selling which was met by scale-down buying and shortcoverlng. The March position dipped below a chart resistance level at £120
      248 words
    • Article
      Straits tin market
      267 8 THE Straits tin price In Penang yesterday was down MsB to $1,672 per plcul on an official offering up 27 tonnes to 212 tonnes. The fall reflected overnight lower London metal prices, a slight Increase In the tin supplies and a technical reaction to recent rises, dealers
      267 words
    • Article
      Cocoa
      323 8 LONDON, Tues. Cocoa futures recorded extended £40 limit losses in early trading, to finish the opening/ special limit call £61 (May at £2,201.50) to £25 per tonne down on yesterday. Near September dropped the £40 limit soon after the start, basis £2,700 traded and offered. Other months were untested
      323 words
    • Article
      Rice
      215 8 BANGKOK, Tues. Indicative prices quoted here were: (In US dollars per tonne. FOB Bangkok) VMM Me*: 100 per cent lit class 308. 100 per cent 2nd class 292. 100 per cent 3rd class 288. 5 per cent 277. 10 per cent 253. IS per cent 2SO. 20 per cent
      215 words
    • Article
      Soybeans
      166 8 CHICAGO, Tues. Soybean futures yesterday were down sharply at the close but new crop months were above new seasonal lows posted during the session. The August closed at $5.54 ft a bushel, with a 30cent a bushel limit loss. New crop months were 18ft to 10ft cents lower. There
      166 words
    • Article
      Wheat
      72 8 CHICAGO, Tues. Wheat futures yesterday finished the session with losses of 4ft to sft cents a bushel, slightly above new contract lows. The previous lows were penetrated early In the session as selling was generated by the weaknesses In soybean and corn futures and losses were extended on commission
      72 words
    • Article
      Copper
      327 8 LONDON, Tues. Copper wire bars fell by mostly C 7 per tonne. Dealers said prices sagged Initially under stale bull liquidation and hedge selling prompted by overnight weakness In New York and the downturn In tin. Three Months metal traded from a pre-market high of £067 down to £661.50
      327 words
    • Article
      Silver
      257 8 LONDON, Tues. Silver finished with losses of 3.6 to 3.9 pence per troy ounce. The early pre-market was depressed by the further sharp overnight fall In New York and lower gold this morning, trade sources said. However, there appeared to be no undue selling pressure and the market steadied
      257 words
    • Article
      Gold
      327 8 THE kllobar In Singapore opened lower at 5511,339 due to weakness In the copper and silver markets In New York last night. Prices fluctuated narrowly to close at 5511.350 The metal In London opened at U*****.10/35 and closed at U*****.25/45. The London morning fixing was U*****.35, down $0.80 on
      327 words
    • Article
      Lead
      110 8 LONDON, Tues. Lead closed with losses of £4.75 for cash and £4.50 for Three Months. The decline reflected the easy tone In base metals generally, with liquidation and some stop-loss selling partly absorbed by trade support, dealers said. Three Months fell to £303 In early ring dealings, but the
      110 words
    • Article
      Zinc
      114 8 LONDON. Tues. Zinc fell £5 for cash and £6 for Three Months. Values worked lower under hedge selling Induced by the movement In copper but the market appeared to become somewhat oversold around the £286 level for Three Months and influential cash and forward buying support partly reversed the
      114 words
  • MONEY AND EXCHANGES
    • Article
      Singapore
      517 8 THE US dollar was traded on an easier tone on the Singapore foreign exchange market from Its opening level yesterday. Against the Deutschemark, the US unit fell from the opening of DM2.3365 here to the low of DM2.3335/ 40 during initial trading in the London market. The American currency
      517 words
    • Article
      Minimum lending rates
      50 8 ACBC l First Chicago AI|«mm Bank Bangkok Bank t 1 7 Citibank HSBC 6 J IS Bank at America v, (V, Bank of China 7 (>, Bank at Tokyo MiUiii Bank Bank Nogara OCBC Indonesia 7 OUB l < Chartered Bank 6 l < UCB 7 UMBC
      50 words
    • Article
      Asian $ rates
      147 8 Asian rates ASIAN currency deposit interbank rates as at close on Aug 16 U8 Dollar* (Spot) Offer Bid 18 5 15/16 1/4 1/8 7/16 6 5/16 6 3/4 6 5/8 #7/8 6 3/4 .7 6 7/8 7 8 7/8 8». Frs. Dan. (Middle pricool 2 3/18 3 15/18 2 1/2
      147 words
    • Article
      Discount
      47 8 RANOE of price* offered by discount houses on Aug 16: Overnifht 2% 9% Call deposit 3% Oaaiag Buy Sellin, 3-Month Treasury bills 3 27/» 3-Month Buikbtlls 4 5/1(1 4 3/16 3-Month CD 4 3/4 4 5/8 6-Month CD 9 4 7/1 Source: National Discount Co Ltd
      47 words
    • Article
      Euro $ rates
      148 8 Euro rates LONDON, Tues. Eurodollar deposits opened little changed from yesterday's closings but drifted easier in places during early quiet trading, dealers said. Overnight came off around 1/16 after opening steady and other shortdates eased In sympathy, although trading so far was fairly light, dealers added. Rates seemed little affected
      148 words
    • Article
      Frankfurt
      43 8 FRANKFURT exchanges opening quotes on Auk 16: US 2 .3342/52 Can 2.1675/96 UK 4 055/085 Neth 04 >0/93 00 8witi 96 20/30 Italy 2 636/648 France 47 40/50 Nor* 44 20/JO Bel( (com) 8 52/53 Belt (fin) 6.51/52 Japan 0 8722 32
      43 words
    • Article
      New York
      125 8 NEW YORK, Tues. The dollar closed yesterday firmer on balance after a relatively quiet trading session with many European centres on holiday. The gains stemmed from a rise In the federal funds rate to 6 1/8 per cent which was read as making higher US bank prime lending
      125 words
    • Article
      London
      270 8 LONDON, Tues. The dollar eased to around 2.3335/ 45 marks from Initial indications of around 2.3350/ 60 unchanged on overnight, dealers said. The US currency traded initially at these higher levels after Federal Reserve reverse repurchase arrangements last night in New York hardened federal funds rates and raised market
      270 words
    • Article
      Tokyo
      182 8 TOKYO, Tues. The Bank of Japan was believed to have sold an estimated US$2O million to support the yen and reverse an early rise in the US dollar, dollar dealers said. The dollar for overnight delivery closed at 267.40 yen, down from 268.30 at the opening and 267.70 at
      182 words
    • Article
      Hongkong
      101 8 HONGKONG Tues. The US dollar eased in mexit-ate trading to 2.3340/48 marks from Its New York midpoint of 2.3364 and Its opening of 2.3365/75. The US unit also eased against the yen to 267.45/55 from Its New York midEolnt close of 268.02 and its lgher opening of 268.30/40 In
      101 words
    • Article
      Australia/NZ
      55 8 AUSTRALIA/NZ exchanges on Aug 10: Australia Sterling 0 6363/0 6294 U8 dollar 1 1031/1.0963 Ninety-day air mall buying rate*: Sterling 0 6525 US dollar ***** Ninety-day forward buying rates Sterling 0.6338 US dollar 1 0940 New Zealand Sterling 0.5570/0 5539 U8 dollar 0.9734/0 9634 Ninety-day forward rate: Sterhng 0
      55 words
    • Article
      Zurich
      51 8 ZURICH exchanges closing quotes on Aug 15: US 2 4212-4219 UK 4.2106-2125 Can 2 .2505-2525 W Oerm 103 84-90 Neth 98 52-81 France 49 23-27 Bel( unquoted Denm 40.23-26 Nor* 45 91-94 Swed 55 09-55.13 Italy unq Austr unq Port 6.20-24 Spain 2 85-3/4 86-1/4 Arg 0.55-65 Japan 0
      51 words
    • Article
      Eurobonds
      312 8 LONDON, Tues. US straight bonds fell by up to one-half point and occasionally more In fairly active selling interest following the rise in the US shortterm Interest rates, dealers said. Straight* Bid Offer Austria 8* 90 101H 102* Bell Canada 8* 86 104* 105% BFCE 8* 83 102 102*
      312 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      313 8 IN PENGUINS Yukio Mishima firmly upheld the traditions of Japan's imperial past, which he believed were being slowly eroded by Western materialism. Disillusioned he astonished the worlcf in 1970 by committing hara-kiri or ritual suicide by disembowelment. One of his last works, Runaway Horses, is now published in Penguins. Like
      313 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Airlines' new schedule for cheap trans- Atlantic trips
      392 9 Airlines' new schedule for cheap transAtlantic trips Reuter GENEVA, Tues. Airlines flying between Europe and North America yesterday announced a new schedule of cheap winter fares to compete with Britain's Laker Airways "noreservatlon no-frllls" service between London and New York, due to start next month. A conference of the International
      Reuter  -  392 words
    • Article
      LONDON FREIGHT MARKET
      195 9 LONDON, Tues. North American grain chartering maintained its activity over the weekend but little marked change could be seen yesterday in the general rate structure besides some fluctuation in the Oreat Lakes and St. Lawrence loading area where similar August loaders were fixed to the Continent at
      195 words
    • Article
      Lock icon Idle shipping rising
      64 9 AFP LONDON, Tues. The number and the tonnage of Idle shipping throughout the world is increasing fast, statistics gathered 'by Lloyd's showed. On Aug. 1, it said, 562 vessels with a total tonnage of 22,026,690 deadweight tons had been taken out of commission, compared with 544 (19,737,148
      AFP  -  64 words
    • Article
      Lock icon British-Thai air talks
      61 9 AFP BANGKOK, Tues. Thai and British authorities are expected to resume talks on air route disagreements in October, an informed source reported today. The source said British authorities had recently Informed their Thai counterparts of their readiness to resume the negotiations which broke down last March and
      AFP  -  61 words
    • Article
      Lock icon Three-week seminar
      64 9 Reuter LONDON, Tfes. A threeweek UN seminar on ocean chartering, attended by officials from 24 developing countries, and territories, began here yesterday. Officials attending are from Bangladesh, Burma, Egypt, FIJI, Ghana, India, Indonesia, Iraq. Kenya, Malaysia, Malta, Nigeria, Philippines, South Korea. Seychelles, Sierra Leone, Singapore. Somalia, Sri Lanka.
      Reuter  -  64 words
    • Article
      FOR CHINA
      21 9 BELGRADE Tues. Yugoslavia will supply four 12.000-horse-power dlesel engines for the Chinese marchant navy. It was learned here yesterday.
      21 words
    • Article
      Lock icon Taiwan goes all out to restore major port facilities
      563 9 AFP TAIPEH, Tues. The Government is making allout efforts to resume container handling operations at Keelung and Kaohsiung, two major seaports In Taiwan, in order to minimise the adverse impact on foreign trade. Container operations in the two harbours are expected
      AFP  -  563 words
    • Article
      Trio feeder service
      115 9 THE Trio Lines composed of Overseas Containers, Ben Line Containers, Hapag Lloyd and NYK and Mitsui Lines has chartered a second selfsustaining contalnershlp to operate a temporary container feeder service between Hongkong and the Taiwanese port of Kaohsiung. Last week, the Trio Lines announced that the contalnershlp
      115 words
    • Article
      Seaborne cargo up 14pc in first half
      186 9 TOTAL seaborne cargo discharged and loaded in Singapore for the first half of the year Increased by nearly 14 per cent over the same period last year. Compared to the first six months of 1975, this year's increase was nearly 25 per cent.
      186 words
    • Article
      Lock icon Supertanker gate arrives in Bahrain
      123 9 AFP BAHRAIN, Tues. The massive gate for the supertanker dry dock being built here for the Organisation of Arab Petroleum Exporting Countries (Oapec) arrived off Bahrain yesterday after a two-month tow from Lisbon. It will be placed In position tomorrow. The gate weighs nearlv 1,500
      AFP  -  123 words
    • Article
      Lock icon No Karachi surcharges
      82 9 Reuter LONDON, Tues. Conference lines covering trade between Europe ana Pakistan said they will not now introduce increases In port congestion surcharges at Karachi as previously announced on July 29. The Increases to 20 per cent from 16 per cent for east bound traffic and to 7.5
      Reuter  -  82 words
    • Article
      Lock icon Swedish car exports fall
      66 9 Reuter STOCKHOLM, Tues. Swedish car exports fell 25 per cent to 54,767 In the five months ended May from 72,909 a year ago, the Central Bureau of Statistics said. A Volvo AB spokesman In Oothenburg, said, "The decline in our exports was due to our telling
      Reuter  -  66 words
    • Article
      Far East freights
      601 9 JAPAN was again a consistent destination for grain last week, principally out of the US Gulf, while the Chinese continued to make bookings on both a time and voyage basis. It was In the US Gulf grain trades that the weight of tonnage was being particularly felt,
      601 words
    • Article, Illustration
      In PORT
      397 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bunga Mas (2100 after Tosel Mara) 19 Chal Varee (HSOL) (after Strathappln Overall length not to exceed 165 m) 42/43 Fides (SMMX) (0600 after Oakbank) 46 Foo Chow (S7AK) (0830 tide after Shlnryu Mara) 25/26 Oerbera (JANM) (Car carrier) (0830 tide after Satsuky)
      397 words
    • Article
      Lock icon Imports take 49pc of UK car mart
      132 9 UPI LONDON, Tues. Foreign car manufacturers took 49 per cent of the British market in the month of August, official figures from the Industry showed yesterday. Imported cars accounted for almost half of those sold since the new registration year began on Aug.
      UPI  -  132 words
    • Article
      Lock icon Undersea cable
      43 9 UPI TAIPEH, Tues. Nationalist China and Japan have signed an agreement to Install a 640km undersea cable between Taiwan and Okinawa, official sources said today. The agreement signed yesterday will lay cable to carry 480 telephones lines, the sources said. UPI
      UPI  -  43 words
    • Article
      MAS to use DC-10 for Nov service
      171 9 KUALA LUMPUR, Tues. MAS will use a DC-10 for a flight from Sydney, Melbourne, and Kuala Lumpur, and ending up In Frankfurt from November, Malaysia's High Commissioner to Australia, Dr Awang Hassan said yesterday. This is the second DC-10 which MAS has bought.
      171 words
    • Article
      Lock icon HK computer estimates
      108 9 AFP HONOKONO. Tues. There will be 600 computers in use here by the end of 1979, sources in this industry estimated today. This will be 200 more than the number in operation last year. New installations will bring the total value to US$2OO million (SS4BB million), the
      AFP  -  108 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      578 9 ARRIVALS Scrvioe Operator Number Local Time FVom TMA TL304B 0530 TPE MAS MH682 0810 KCH PAN PA847 0610 SPO/HNL/OUM CPA CX710 1000 HLP OIA OA 900 1030 HLP THAI TG423 1035 BKK SIA SQ2U 1045 HLP THAI TQ981 1050 BKK QIA OA944 1055 PKU OIA OA 908
      578 words
    • Article
      Containers still being sent to Port Klang
      293 9 SINGAPORE'S shippers have not as yet put the brakes on sending containers to Port Klang. In spite of the container congestion at the Malaysian port, a number of shipping companies Indicated yesterday that It was business as usual for Port Klang. However, some
      293 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      200 9 Give us a man for a monthwell give him a language for life infingua 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
      200 words
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  • Article, Illustration
    Lock icon IBM is one step ahead of the seven dwarfs
    2379 10 ONCE upon a time the computer business was the story of IBM and the seven dwarfs. Today the tale Is moving on to a new chapter, marked by the appearance of some surprising fresh characters and the probable decline of some
    Source: EDP Europe Report  -  2,379 words
  • Article
    Examining the local reinsurance industry
    1654 10  -  By COLIN CHEE AT a time when much Is vaguely made of its vigour, one Is uncomfortably left to suspect that the claim that the local reinsurance Industry Is blossoming Is largely hot air. The claim remains statistically unsubstantiated. The authorities do not keep track
    1,654 words
  • Article
    Probe highlights the banker's banker
    1150 10  -  By JOHN HOLUSHA WASHINGTON: The Investigation Into the financial dealings of budget director Bert Lance has thrown new light on the way banks and bankers do business with each other. Much of the attention has focused on the "correspondent" relationship between banks. The questions raised
    1,150 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      523 10 Business Management in Penguins Export Marketing Decisions: D. Tookey Today, when export marketing is crucial to the success of most companies, this book is 'must' reading for all practising managers and students of business management. An interesting book on the problems of export marketing, the difference between home and oversea
      523 words
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  • Article
    Lock icon Japanese refiners reject Aussie proposals
    213 11 Reuter TOKYO, Tues. Japanese sugar refiners rejected Australian proposals to end the dispute over a long term sugar supply contract, Dal Nippon Sugar Refining said. Speaking on behalf of 33 Japanese refiners, the company said the rejection became final as CSR, marketing agent for Queensland
    Reuter  -  213 words
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    Lock icon MCA posts expected to be hotly contested
    547 11 Reuter KUALA LUMPUR, Tues. Malaysian Chinese, showing dissatisfaction with their leaders who share political power In the Federal Qovernment, will keenly contest elections for all posts In their political party on Saturday. Several candidates are seeking election to the top party posts and
    Reuter  -  547 words
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    Lock icon Sun Hung Kai eyes Asean
    196 11 AFP KUALA LUMPUR, Tues. A Hongkong-based international finance group, Sun Hung Kal Securities, has turned to the Asean region for further expansion and diversification of Its overseas operations. The group chairman and managing director, Mr. Fung King Hey, said here that SHK Securities wanted to
    AFP  -  196 words
  • Article
    Going, going . . . and going
    104 11 Going, going and going THERE were no sales made at yesterdat's auction of 11 Rropertles by Klong Chal Woon, licensed auctioneers and valuers. The properties were nine pre-war houses at Koon fipne Road, a house at Beng Wan Road and a 6,038.7-sq metre plot of land at Slak Kuan Road
    104 words
  • Article
    UMBC sues
    47 11 UNITED Malayan Banking Corporation has filed a suit In the High Court against Wee Toon Kek, formerly trading as Llan Hup Trading for a sum of >12,495 allegedly being overdraft facilities rendered to the defendant and $3,246 being the balance of a bill of exchange.
    47 words
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    Lock icon Economic growth of China rated as impressive by OECD
    666 11 UPI Reuter PARIS, Tues. China's economic growth during the past 25 years has been "Impressive" and should Increase slightly If present government policies continue, and authoritative report predicted today. The Organisation for Economic Cooperation and Development, economic guide for 24 industrialised
    UPI; Reuter  -  666 words
  • Article
    Lock icon Peking triples wheat buy
    237 11 Reuter WICHITA, Tues. Assistant Secretary of Apiculture Dale Hathaway said China will probably buy about 9.5 million tonnes of wheat this year for delivery in 1977/78, almost triple the 3.5 million tonnes Imported last year. But he was not optimistic that the US will have much
    Reuter  -  237 words
  • Article
    Lock icon Complete ban on crab hauling in Bering Sea?
    248 11 AFP TOKYO. Tues. The United States Intends to Impose a virtually total ban on the Japanese tanner crab catch In the Bering Sea, south of 58 degrees North Longitude. Fishery Agency sources said today. The Japanese crabcatching was banned this year only
    AFP  -  248 words
  • Article
    Lock icon Indonesia gets $107m ADB power loan
    101 11 UPI MANILA, Tues. The Asian Development Bank today approved a US$45 million (Sslo7 million) loan to Indonesia for a power distribution project, an ADB announcement said. The project Involves the expansion and rehabilitation of power distribution systems In the Medan area of north Sumatra
    UPI  -  101 words
  • Article
    Lock icon Moscow bank forces Comfin to the wall
    373 11 NYT LONDON. Tues. Russian bankers, it seems, are no different from their Western counterparts, the ones so prominent In Soviet propaganda. The Moscow Narodny Bank, a state-owned Soviet institution that has become a fixture here, has sent Into receivership an Australian company unable
    NYT  -  373 words
  • Article
    Lock icon Protectionism is gathering momentum
    219 11 AFP HONGKONG, Tues. The deputy chief of Commerce and Industry, Bill Dorward, has sounded a warning against the spread of trade barriers. Speaking last night at a forum on textiles Mr. Dorward said the worldwide trend towards protectionism was beginning to gallop. The proponents could only
    AFP  -  219 words
  • Article
    Lock icon Packaging industry study tour
    146 11 AFP HONGKONG. Tues. The Federation of Hongkong Industries Is organising a study tour of major areas of the Japanese and South Korean packaging industry next month. The tour is being arranged in conjunction with the participation of a Hongkong delegation to the Fourth Asian Packaging Congress
    AFP  -  146 words
  • Article
    Open house at institute
    99 11 PONGGOL Vocational Institute will hold a two-day open house from Aug 18 to familiarise students, parents, career and guidance teachers, Industrialists and the general public with the various types of technical and vocational training It provides. The Institute, wmcn concentrates on training in the building trades,
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    Lock icon Fukuda to expand on his doctrine in Philippines
    838 11 Reuter MANILA, Tues. Prime Minister Takeo Fukuda Is to define Japan's commitment to stability, progress and peace In South-east Asia as he ends a slx-natlon tour here on Thursday. The "Fukuda Doctrine," as it Is being dubbed, will be the subject of
    Reuter  -  838 words
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    Lock icon Re-think by Japan's plant makers
    258 11 AFP TOKYO, Tues. Major Japanese plant manufacturers have begun to take a renewed look at the Asian markets from which they have tended to stay away recently, following the government's pledge to strengthen economic cooperation for South-east Asia. The promise was made during an enlarged
    AFP  -  258 words
  • Article
    Lock icon Vietnam debt issue not dropped
    182 11 Reuter BANGKOK. Tues. Japanese Prime Minister Takeo Fukuda today flatly denied a report that his country was planning to drop its claim to repayment by Hanoi of debts left over by the ousted South Vietnamese regime. "Hie report is not correct," he told a press
    Reuter  -  182 words
  • Article
    On concrete
    37 11 A TWO-DAY conference on "Our World In Concrete and Structures", organised by Compa International and sponsored by the ReadyMixed Concrete Association of Singapore will be held at the Shangri-La Hotel on Aug 25 and 26.
    37 words
  • Article
    Lock icon Americans are HK's biggest investors
    113 11 AFP HONGKONG. Tues. Americans are Hongkong's biggest foreign Investors with a 51.1 per cent stake in the manufacturing sector. In value terms these investments totalled U*****.6 million (*****.7 million) at the end of June. At that time the full amount of Investments from all foreign
    AFP  -  113 words
  • Article
    Lock icon Sabah a fertile area for investment — Tanco
    241 11 Sabah a fertile area for investment Tanco UPI MANILA, Tues. The announced withdrawal of the Philippine claim to Sabah has opened up the resourcerich territory to increased and mutually-profitable economic* cooperation, Philippine official* said today. Agriculture Secretary Mr. Arturo Tanco Jr., and Natural Resources Secretary Mr. Jose Leido Jr., who
    UPI  -  241 words
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      273 11 APPOINTMENTS I r TIE (ETC CORPORATION has a vacancy for a MARKETING-ORIENTATED PHARMACIST UNITED OVERSEAS BANK GROUP has an immediate vacant post for ASSISTANT PROPERTY OFFICER (Mechanical A Electricel) QoolWcotfens/lxppricnce: Appliconts should possess either a City Guilds full certificate (Mechanical/ Electrical Engineering, Or Singapore Polytechnic Technician Diploma (Mechanical/ Electrical Engineering)
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  • Article
    Lock icon Lynch outlines prospects for fiscal year
    665 12 Reuter UPI CANBERRA. Tues. The 1977/78 fiscal year (July/June) will not see any dramatic breakthrough to rapid economic recovery in Australia, Treasurer Phillip Lynch said In his 1977/78 budget speech. But the budget provides solid grounds for looking to further gains in reducing the
    Reuter; UPI  -  665 words
  • Article
    Rates on bills firm up
    134 12 RATES In commercial bills started to firm In the discount market this week. Yesterday, the buying rate for the bills was 4V« per cent and the selling rate was 4 Vfc per cent, both up per cent from last week. The hardening of these rates
    134 words
  • Article
    Four-day NTUC seminar
    129 12 THE National Trades Union Congress (NTUC) Is holding a four-day seminar from Oct 9 to boost the role played by the labour force In nation building. The latest Issue of Labour News, an official organ of the NTUC, said the seminar will deliberate on three Important Issues:
    129 words
  • Article
    Lock icon Step-up in foreign aid
    238 12 AFP CANBERRA, Tues. The Australian Government announced In the Budget a 12 per cent increase in overseas aid to A 5425 million (551.15 billion). The funds represent 0.47 per cent of forecast Gross National Product, compared with 0.46 per cent last financial year, but still well
    AFP  -  238 words
  • Article, Illustration
    Higher food prices send index up
    442 12 CONSUMER prices last month were 3.7 per cent higher than the previous July, and the Index now matches the highest ever reached since it was introduced in 1972. This was announced by the Statistics Department which also said that the July index was also
    442 words
  • Article
    LONDON STOCKS
    792 12 LONDON, Tues. Prices rose sharply today following speculation that sterling would strengthen, dealers said. At 3 p.m. the FT index was up twelve points at 488.4. the highest for (our and a half years. Trading In government bonds was relatively heavy and shorts gained up to 3/8 and
    792 words
  • Article
    Electronic industry will be catapulted to new heights
    453 12 SINGAPORE'S electronic industry will receive another push in forward integration and a capital injection of $12 million to boot before the end of the year when two American multinational! act up shop here. One company ia expected to inveet $10 million in
    453 words
  • Article
    New high
    36 12 FOLLOWING Monday's surge, prices rose sharply on the Tokyo stock market yesterday to touch a new year's high. Over 500 million shares were traded, and the market average gained 29.59 to close at 5.231.58.
    36 words
  • Article
    Call to compel some to save
    265 12 SINGAPOREANS who do not save their earnings should be brought within the ambit of compulsory savings in their own interest. This was suggested by an editorial In the National Trades Union Congress (NTUC) newsletter Labour News In Its mld- August issue. The newsletter suggested
    265 words
  • Article
    Lock icon Takeovers? No plans in mind
    168 12 Reuter MANILA, Tues. A senior Philippine official has said that the government has no plans to nationalise the oil exploration industry. "It hasn't even come to our mind. Don't tell us about it," he said In response to questions during a public hearing here yesterday
    Reuter  -  168 words
  • Article
    Lock icon Japanese trade surplus doubles
    424 12 Reuter TOKYO, Tues. Japan today announced a record monthly customs clearance trade surplus of US$l,5lO million (553,684 million) for July, showing that the country's export drive was moving ahead at full speed. The Finance Ministry said the preliminary figure was nearly double June's revised $826 million
    Reuter  -  424 words
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    Lock icon Manila raps sharp trading practices by Japan
    571 12 Reuter MANILA. Tues. The Philippines today accused Japan of sharp trading and neo-colonlal practices in a surprise outburst on the eve of Japanese Premier Takeo Fukuda's visit here. In a statement Issued by the Department of Public Information, the Philippines said it found
    Reuter  -  571 words
  • Article
    Industrial engineering
    62 12 THE National Productivity Board is conducting a course on Industrial Engineering (module IV) from Aug. 29 to Sept. 9 at the NPB Town Training Centre at Hotel Royal Ramada. The fee Is $70 for members and $90 for others. On Monday NPB started a course on "Introduction to
    62 words
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    Lock icon Aid for KL
    25 12 Reuter TOKYO, Tues. Japan said it would give Malaysia technical assistance In building a 600 km undersea communications link with Sarawak. Router.
    Reuter  -  25 words
  • Article
    Lock icon UNFAIR TRADE
    125 12 UPI TOKYO, Tues. Police today arrested a Fair Trade Commission (FTC) official and a publisher on charges of disclosing corporate secrets on epoxy resins. Metropolitan Police Department (MPD) officials said they arrested Toshlo Kojlma, 51, assistant chief of the FTC Economic Department's International Affairs Section, and Masanorl Hata,
    UPI  -  125 words
  • Article
    Lock icon Tokyo extends $244m loan for Thai development
    299 12 Reuter BANGKOK, Tues. Japan today agreed to extend to Thailand a loan of 27.5 billion yen (***** million) for economic development next year. The agreement came in talks between visiting Prime Minister Takeo Fukuda and his Thai counterpart, Mr. Thanin Kralvlchlen, an official
    Reuter  -  299 words
  • Article
    OUB's appeal adjourned
    147 12 HEARING of Overseas Union Bank's appeal for an increase in a Land acquisition award was adjourned yesterday pending Judgment by the Court of Appeal in what was described as "a case stated" in the Robinson's fire site case. It Is understood the appeal by OUB would involve
    147 words
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      55 12 SEE PAGE II Who's that on top of the OU action? Almost any place you find oil you II find the Royal Bank of Canada. And you'll always find we 're well connected. THE ROYAL BANK OF CANADA 32nd Floor, UIC Building, 5 Shenton Way, Singapore 1. Tel: *****67 Telex:
      55 words
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      Page 12 Advertisements Column 2
      296 12 ycu ACE INVITED to the First International Exhibition of Business Equipment Services in Southeast Asia >cex^ ASIAN BUSINESS EXPO September 7,8, 9,10.1977 Hyatt Singapore Hotel Convention Centre A Rewarding Event for Business Personnel in Industry, Retailing, Wholesaling, Commerce 165 DISPLAYS... of equipment and systems for data processing, copying, word processing,
      296 words