The Business Times, 20 August 1977

Microfilm: NL9344
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 309/1/77 SATURDAY, AUGUST 20, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Cooperation pact
      67 1 AP KUALA LUMPUR, Fri. The first MalayslanIraqi joint committee meeting ended today with an agreement on cooperation In petroleum, trade and technical fields. The minutes of the agreement was signed by the Malaysian Trade and Industry Minister Datuk Hamzah Abu Samah and his Iraqi counterpart, Hassan All. Datuk
      AP  -  67 words
    • Article
      Lock icon Concorde order put off
      81 1 UPI NEW YORK, Frl. A Federal Judge today postponed for an additional three days his order overturning the Port Authority of New York and New Jersey's ban on flights of the Concorde at Kennedy Airport. US District Court Judge Milton Pollack pushed back the effective date
      UPI  -  81 words
    • Article
      Lock icon Freighters crash
      42 1 AFP BRUSSELS, Fri. Two freighters were stuck together today after colliding at a river bend near Antwerp. Port authorities were waiting for special equipment before attempting to pull apart the 48,000tonne Norwodge of Singapore and the 7,700tonne Greek-registered Ady. AFP.
      AFP  -  42 words
    • Article
      Lock icon Japan loan
      71 1 Reuter NEW DELHI, Fri. Japan will give India a loan of 20 billion yen (SslBs million) for importing goods, machinery and services, an official announcement said today. The loan, which is repayable in 30 years will be used for imports from developing countries and also from Japan, it
      Reuter  -  71 words
    • Article
      Lock icon Bhutto accused
      65 1 UPI LAHORE, Fri. A former Member of Parliament accused deposed Prime Minister Zulflkar All Bhutto in court of high treason and subverting the nation's constitution crimes which are punishable by death. Court officials today said Mr. Chaudhry Zahur Ellahi, in charges filed yesterday, alleged that Mr. Bhutto suppressed
      UPI  -  65 words
    • Article
      Lock icon Dow Jones
      96 1 UPI NEW YORK, Fri. Stocks were higher early today in buying sparked by a decline in the growth of the nation's basic money supply and a 0.4 per cent rise in consumer prices, the smallest since last December. But investors were restrained by news that trendsettlng Citibank had
      UPI  -  96 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      175 1 PRICES moved on an easier bias in light and selective trading on the Stock Exchange of Singapore yesterday. Profit-taking was particulary widespread in the second section. Losses were marginal. At the close, the Business Times index fell 1.16 points to 399.21 but the Straits Times Industrial index
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    • Article
      In Kuala Lumpur
      100 1 Most active Malayan BerjunUii A.M.D. EaaoOrd A. Amal Troooh M.B.S. Sg.Boai Merlin (S) Tougkah Int. Wood C. Storage 10.80 8.75 0.78 2.20 4.70 5.00 2.39 3.18 1.28 Falls 2.40 i 2.00 4.70 3.52 1.56 2.23 +1.70 .20 .14 .11 .10 .10 .08 .08 .07 .26 .10 .10
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  • Article
    Japanese to take reflation road
    1596 1  -  IT'S HOBSON'S CHOICE What is Japan going to do about its economy? This has become an increasingly vital question, both in terms of the world economy, and in the Singapore context. Singapore which suffers its largest trade deficit with Japan would welcome farther dismantling of
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  • Article
    Lock icon Fukuda wants measures by end of month
    399 1 Reuter TOKYO. Prl. Japanese Prime Minister Takeo Fukuda today told his cabinet to work out by the end of August measures to reflate the economy and stem foreign criticism of the massive trade surplus. International Trade and Industry Minister Tatsuo Tanaka told a
    Reuter  -  399 words
  • Article
    Lock icon GNP growth slows, inflation worsens
    276 1 UPI WASHINGTON, Fri. The Gross National Product S!w at a slower rate and intlon was worse in the second quarter than prevlous- estimated, the Commerce jpartment said today. The updated report for the three-month period ended July 31 said the ONP the total value of
    UPI  -  276 words
  • Article
    Lock icon Call to establish investment fund
    131 1 AFP TOKYO, Fri. The Japan Committee for Economic Development (Doyukal) called for the establishment of a Joint Investment fund today to promote capital Investment by Industrially advanced nations in Asean. The plan was announced following Prime Minister Takeo Fukuda's tour of the five Asean countries.
    AFP  -  131 words
  • Article
    CITIBANK HIKES ITS PRIME
    70 1 N«W YORK, Fri. Citibank, the second largest US commercial bank, raised ttspclme interest rate today from 9.75 per cent to 7 per cent. Citibank, which had held the prime at 9.75 par cent since liav 17. did not elaborate immediately on Its nova. But according to
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  • Article
    Double tax deduction for all trade mission members
    275 1 THE government yesterday unveiled a list of improved tax kmflto to boost Singapore's export drive. The list covered categories of people eligible for and conditions under which double tax deductions are available for oversees marketing missions. Double tax deduction on expenses incurred
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  • Article
    No lowering of standards for entry into medicine
    634 1 DOCTORS, both In practice and in the university, are uncertain as to the possibility of shortages oc currlng in the profession withing the next 10 years but are absolutely firm in their belief that there will be no slackening in university admission
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      57 1 i. r tur Hi .Si irif i i,: I u.j" ■i > juis J s.* ft CeyktiJeweUers It twwfoK Wd.. ItYprnri T«: 3MOOI/MW7. Market Review*/TV Radio/Crosswords P2 Ovmeu News P3 Local Co News P4 International Co News P5 Local Stooks PC Owmu Stocks P7 Commodities PS Transport 6 Communications PI
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    • Advertisement
      Page 1 Advertisements Column 2
      101 1 t I t I 11 Braun Synchron Plus Braun's Synchron Plus. For the man who must have a closer, smoother, faster shave than any other shaving system can give. The exclusive features of this shaver include: Tissue-thin super-flexible electro-formed nickel foil. Has unique pattern of cutting holes and slots. Platinum-coated
      101 words
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      3 1 BKB PAGE t
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      183 1 >?.`*~@<=[-$-{(;%/-)(,|[[&[\`-_ The Opel Retard Berlina tot 77 looks as beautiful as if drives. When you have a car that's already famous for its quality, dependability, all round durability and with one of the most advanced ond comprehensive car safety systems in-the world what else can you do? We did the
      183 words
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  • MARKET REVIEWS
    • Article
      Hotels take centre stage
      718 2 SINGAPORE HOTEL stocks featured bullishly in a generally erratic stock market in Singapore this week. Support for hotel counters came late In the week in the wake of vastly Improved results from some of the companies. Interim reports and accounts Issued through the Stock Exchange of
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    • Article
      Company news for the week ended Aug 19
      334 2  -  ■——hpPPIC WFJF ARTHUR NG OTHERS Sime Darby Holdings has said that the recent probe by the London Stock Exchange Into the unusual price activity of Consolidated Plantations warrants Is In no way concerned with any company in the group or with the
      334 words
    • Article
      KUALA LUMPUR
      461 2 GENERALLY, the Kuala Lumpur Stock Exchange showed a decidedly easier tendency for the oetter part of the week as profit-takers made their presence felt. Right from Monday, this trend was clearly discernible which saw the Malaysian Business Times Index falling by 9.59 points on that day alone. A
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    • Article
      Lock icon SYDNEY
      345 2 Reuter WyiLE INVESTORS looking for a boost to the share market from the federal budget were disappointed, the continued manoeuvring for control of Australia's coal reserves and stronger uranium shares provided the only highlights of the week, brokers said. After an initial splash on the day after the budget,
      Reuter  -  345 words
    • Article
      Writing on wall keeps hope of investors alive
      513 2  -  LONDON »r IVAN FALLON THIS HAS been a week of frustration and mixed fortunes on the London Stock market. Throughout, there was the tantalising hope that the Financial Times index would breach the 500level. But It was not to be. On Tuesday
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    • Article
      URANIUM FEVER
      55 2 THROUGHOUT the week reports have been reaching London that the Australian government is planning to give the green light shortly for the production of uranium., This has sparked off intense interest in the mining sector. PekoWallsend was a major beneficiary rising 50p to 450p, while Pancontinental roared 1
      55 words
    • Article
      Lock icon Peruvians cut back to win IMF support
      349 2 AP IyIMA, Frl. Peru's military government announced a US$57.B-mllllon (8$ 141.0 million) budget cutback yesterday In an apparent effort to win support from foreign banks and the International Monetary Fund for refinancing Its huge external debt. It was the first announcement of a
      AP  -  349 words
    • Article
      Lock icon China team for US
      60 2 Reuter WASHINGTON, Frl. A 15-member trade delegation from China will visit the United States for 2V» weeks beginning early next month, a group promoting US-Chinese trade said yesterday. Mr. Christopher Phillips, president of the non-profit National Council for USChina Trade, said the delegation will be the
      Reuter  -  60 words
    • Article
      Investment bosses get the jitters
      219 2 SUDDENLY the dollar premium has been hitting the headlines. By Thursday It had dropped to around 90 per cent for a fall of around 25 points since the beginning of the month. Over this period British Investment trust managers have become increasingly nervous. The reason
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    • Article
      Not good enough at Albright
      152 2 ALBRIGHT and Wilson which has been showing acqulsltlonal interest recently In the Far East produced some disappointment with Its latest figures. Profits before tax for the first six months of 1977 reached £16.1 million compared with £14.3 million. "Not good enough", said the jobbers, promptly
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    • Article
      Jakarta ops give a fillip to Ultramar
      216 2 OIL analysts and brokers have begun reporting renewed and wider interest developing in Ultramar, following its interim figures recently for the six months to June 1977. These showed a healthy increase in profits before tax of £3.2 million to £7.9 million. The group
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  • Page 2 Advertisements
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      227 2 YESTERDAY'S CROSSWORD SOLUTIONS Cryptic Solution ACROSS. —1, Pumps. 6, Phase. 9, Lob-Ella. 10, Ol-ve-n. 11. Crate. 12, Brake. 13, We-stern. IS, Sec, 17, Idly. 18, Suited. 19, Paln-t. 20, Trlp-od. 22, Bite. 24. (step) Hen. 25, Spurred. 28, Steps. 27, Title. 28, Windy. 29. O-ration. 30, Seven. 31, We-lrd. DOWN.
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      356 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Aug 19 at Singapore airport. Maximum Temperature 30.5° C Associated Humidity 67 Minimum Temperature 23.0° C Associated Humidity 98 Hours of Sunshine 5.55 Rainfall in Millimetres Trace Total Rainfall for the Month 119.5 Total Rainy Days for the
      356 words
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  • OVERSEAS
    • Article
      Lock icon UK is in for a $15b trade surplus next year
      318 3 Reuter LONDON, Frl. A group of British economists has predicted that, Britain will naye a £3.6 billion (8*15.3 billion) trade surplus next year but that unemployment will be moving towards the 2.5 million level, economic sources said yesterday. The economists,
      Reuter  -  318 words
    • Article
      Lock icon Exports to Arabs rise
      92 3 Reuter BONN, Fri. West German exports to Arab countries rose by 26 per cent to 8.18 billion marks (558.56 billion) in the first half of this year compared with the same period of 1976, the Economics Ministry said. Imports, however, chiefly oil, grew at a much
      Reuter  -  92 words
    • Article
      Lock icon Growing impact of inflows on British money supply
      640 3 Reuter LONDON, Frl. The British money supply figures for the July reporting period emphasise the growing Impact of monetary Inflows from abroad on money supply, analysts here said. The 1.2S per cent rise In sterling M 3 In the period Is with
      Reuter  -  640 words
    • Article
      Lock icon M-1 decline takes the pressure off Fed to tighten up on rates
      417 3 Reuter NEW YORK, Frl. The US$l.5 billion (513.67 billion) decline in money supply reported yesterday by the Federal Reserve Bank is expected to ease pressure on the Fed to undertake additional monetary policy tightening, money market analysts said.
      Reuter  -  417 words
    • Article
      Lock icon Hopes for slower rise in US food cost
      357 3 AP UPI WASHINGTON, Frl. American consumers and economists, noting a recent drop in the prices that farmers receive for crops, are hoping the trend will slow the rise in the cost of food in supermarkets. In its latest price report a week
      AP; UPI  -  357 words
    • Article
      Lock icon Small drop likely in investments abroad
      287 3 Reuter NEW YORK, Frl. Real US investment abroad in property plant and equipment for 1077 is expected to fall slightly from year ago levels. In a newly Issued report of overseas operations of US industrial companies, a McGraw-Hill survey found that industry plans U5522.4
      Reuter  -  287 words
    • Article
      Lock icon SWISS CONTRIBUTION TO FACILITY IS HIGH
      115 3 Reuter ZURICH, Frl. Switzerland's contribution of 650 million special drawing rights (BDR) to the International Monetary Fund's Wltteveen Facility is very high compared with other industrial countries, the Swiss National Bank said. The size of the contribution is Justified by Switzerland's Interest in an
      Reuter  -  115 words
    • Article
      Lock icon Opec not thinking of replacing dollar
      170 3 Reuter ABU DHABI, Frl. Opec states are not currently thinking of revising their attitude to the US dollar as a means of payment for oil, United Arab Emirates Oil Minister Mana al-Otelba was quoted as saying. However, the states might create an "Opec dollar"
      Reuter  -  170 words
    • Article
      Lock icon Go-ahead on credit grants
      75 3 Reuter ROME, Frl. The Italian Exchange Office (UIC) said It has told banks they can grant credit in foreign currency to exporters? without waiting for official authorisation provided specific conditions are met. Trade sources said the measure is designed to facilitate conclusion of export contracts In
      Reuter  -  75 words
    • Article
      Lock icon FRACTIONAL PALL IN SECOND QUARTER GDP
      220 3 Reuter LONDON, Frl. UK Grose Dai—tic Product Ml 6.9 per out la ■food quarter 1977 compared with the first quarter, provisional output data from the Coatral Statistical Office shows. The second quarter GDP ot 106.8, base 1978 and at constant prices, was about one
      Reuter  -  220 words
    • Article
      Lock icon France's trade deficit falls
      356 3 Reuter PARIS, Frl. France's Jutyvlaible trade deficit fell to 797 minion francs (SI 396 million) seasonally adjusted, from 2.32 bllUon In June and last July's 1.2 bMon deficit, the Foreign Trade Ministry said. The ministry said adSports were 28.67 billion francs cornered with 28.63 billion In
      Reuter  -  356 words
    • Article
      Lock icon Swiss outlook better
      250 3 Reuter ZURICH, Fri. The economic climate In Switzerland has Improved this year, mainly reflecting lower Inflation compared with other countries and Improved currency stability In major export markets, the Swiss National Bank said. However, the recent weakening of the dollar against most currencies could have an adverse
      Reuter  -  250 words
    • Article
      Lock icon Carter says he is still happy with Lance
      308 3 Reuter WASHINGTON, Frl. President Carter yesterday declared his full confidence In Budget Director Bert Lance, saying his faith In his close friend's character and competence had been reconfirmed by a government Investigation of his private financial affairs. Mr. Carter interrupted a holiday
      Reuter  -  308 words
    • Article
      Lock icon CFTC comments
      82 3 Reuter WASHINGTON, Frl. The Commodity Futures Trading Commission (CFTC) said the Chicago Mercantile Exchange's (CME) rule enforcement programme is the most effective of the eight exchanges reviewed to date. "This is the first exchange reviewed which has many strong, active Internal governing bodies and a strong independent investigative
      Reuter  -  82 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      1153 3 1 A <§olbeit Castle jftnance CORPORATION LIMITED BALANCE SHEET AS AT 31st DECEMBER, 1976 CAPITAL AND RESERVES Share capital Statutory reserve fund Share premium Revenue reserves Represented by:FIXED ASSETS INVESTMENTS, at cost SUBSIDIARY COMPANY Investment in subsidiary company al cast CURRENT ASSETS Mortgage and secured loans Amounts owing under hire
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  • COMPANY NEWS
    • Article
      Seacorp all set for another bumper year
      522 4 EARNINGS have continued to grow at South East Asia Development Corporation and all Indications point to record levels In the current year ending Jan 31, 1978. For the first half year ended July 31.1977 the company achieved an Increase of 18.3 per cent
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    • Article
      DIVIDENDS ANNOUNCED
      286 4 Current Ex Date Total for Total for payment Date payable the year previous year 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 30 15% 13% Fan Electric 20% July 26
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    • Article
      PEOPLE IN BUSINESS
      133 4 MR. WILLIAM L. DIX has been appointed vice president, export operations of Ford of Europe inc. Mr. Dix, who was previously regional director, Ford Asia-Pacific Inc. is the first Australian to be appointed as vice president of Ford of Europe. In his new capacity, Mr. Dix will
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    • LATEST RESULTS
      • Article
        JOHAN TIN DREDGING —
        31 4 JOHAN TIN DREDGING Unaudited pre-tax profit M 511.327 ($19,219) for the first half-year ended July 31, 1977. Income from tribute and Investments $17,032 ($24,261). Tin ore output 183 plculs (525 plculs).
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    • Article
      Loan plan to help bumiputras buy unit trusts
      315 4 KUALA LUMPUR, Fr!. A new loan scheme to I enable bumlputras in the lower Income (roups to i purchase shares in unit trust funds was launched yesterday by Enclk Abdul Oha far bin Baba, chairman of Komplek Kewangan Malaysia, a financial conglomerate.
      315 words
    • Article
      Hefty rise in first half profit at OUE
      334 4 OVERSEAS UNION Enterprise reported yesterday a near doubling in pre-tax profit for the first half year ended June 30, 1977. During this six-month Krlod, pre-tax profit rose .7 per cent to $2.06 million on an Increase of only 12.9 per cent In
      334 words
    • Article
      Bank's scheme to help farmers own motorcycles
      171 4 KUALA LUMPUR, Frt. Bank Pertanlan Malaysia is introducing a new scheme to provide motorcycle loans to farmers In line with its objective of providing for the total credit requirement of the farmers In the country. The bank said in a statement yesterday that
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    • Article
      Oil palm estate development plan
      111 4 KUALA TRENGGANU, Frt. The Trengganu Tengah Development Board of Malaysia's Trengganu State and the Armed Forces Fund Board have formed a Joint venture company to develop an oil palm estate of over 4,047 hectares In the state. The new company, Ketengah Perwlre, said It was
      111 words
    • Article
      Ben still faces a rough road ahead
      502 4 BEN chairman, Mr. John O. Gilmour has not become any more optimistic about the year's prospects (or the food distribution company between last month's publication of the annual report and accounts and yesterday's formal offer document for the proposed two-for-flve rights issue. In
      502 words
    • Article
      Lien Hoe pulled ,up for incomplete replies
      815 4 THE Kuala Lumpur Stock I Exchange has censured i Lien Hoe Industries for falling to answer fully Its earlier questions on the company's proposed acquisition of See Sen Chemical. It requests the company In a letter on Aug 16 to answer all the
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    • Article
      CHICAGO BOARD OPTIONS
      1363 4 On Aug 18 TRADINO on the Chicago Board Options Exchange came to 109,021 contracts on Thursday compared with 103,246 contracts on Wednesday. OPTION OCT JAN APL STOCK Alcoa 49 17/0 9 UNTRD 491/0 Alcoa SO 3/8 1 2 451/0 Alcoa 00 UNTRD 1/8 5/16 45 1/0 Am
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    • COMPANY MEETINGS
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      278 4 'VP.'5 ■J JU. U.I I ..77PTWT l 3 v'\: KB DP i£ r i I y «sf as IK <&« *-V The three bosk needs and the three ports of Britannico 3 1. To get at the facts oft an a single fact aasily and quickly, without having to raad
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  • Article
    Lock icon Wool worth down in first half
    574 5 NORTH AMERICAN COMPANIES Reuter F W. WOOLWORTH, which reported lower second quarter and six months earnings, said It expects earnings for the second half to "compare favourably" with the U552.65 a share earned In the 1976 second half. The company said this prediction was
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  • Article
    Lock icon United raises Babcock bid to US$55
    167 5 Reuter UNITED TECHNOLOGIES said it increased its tender offer bid for Babcock and Wilcox shares to US$55 each from $48 in cuh. J. Ray McDermott is also offering $55 for Babcock shares. United Technologies said its offer is scheduled to expire 1000 EDT Aug
    Reuter  -  167 words
  • Article
    Lock icon MAC, NY banks reach swap accord
    130 5 Reuter THE MUNICIPAL Assistance Corp for the City of New York said It reached an agreement with the 11 New York clearing house banks and city pensions and sinking funds, providing for the previously announced voluntary restructuring of MAC bonds and city notes. Under
    Reuter  -  130 words
  • Article
    Lock icon Bethlehem Steel orders second major cutback
    525 5 NYT BETHLEHEM STEEL announced its second major plant cutback this month on Thursday and disclosed It will suffer a substantial loss In 1977. Chairman Lewis Foy said certain coke ovens In blast furnaces will be eliminated at the Lackawanna, New York plant, reducing employment
    NYT  -  525 words
  • Article
    Lock icon United Airlines earnings rose 45pc in July
    238 5 Reuter UNITED AIRLINES INC announced on Thursday that the July net earnings of its United Airlines subsidiary rose by 45 per cent to US$3O.9 million from $21.4 a year earlier. Earnings from airlines operations for the first seven months of 1977 were $26.2
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  • Article
    Honeywell
    25 5 HONEYWELL INC said It increased Its quarterly dividend to 47V» cents from 40 cents payable on Sept. 12 to stockholders registered by Aug. 26.
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  • Article
    Lock icon October date for IBM to remove copiers
    152 5 Reuter XEROX of Canada said a federal court Judge has rven IBM Canada until Oct to complete the removal from use in Canada of all Its copiers which infringe on certain Xerox corp patents. Xerox said IBM copiers on longer term leases may
    Reuter  -  152 words
  • Article
    Lock icon Amway acquires Mutual Corp
    192 5 UPI AMWAY CORP. announced on Thursday that It reached an agreement in principle to purchase Mutual Broadcasting Corp, for a reported USfIS million. The purchase Is expected to be completed on Monday, said a spokesman at Amway headquarters In nearby Ada, subject to stockholders' approval. The
    UPI  -  192 words
  • Article
    Lock icon BHP raw steel output in July
    139 5 ASIAN COMPANIES Reuter MELBOURNE, Frl. Broken Hill Pty (BHP said its raw steel output dropped to 588,000 tonnes In July, a drop of 15,000 tonnes on June and 108,000 tonnes on July 1976. BHP, Australia's only raw steel maker, said Ironmake at 504,000 tonnes
    Reuter  -  139 words
  • Article
    Lock icon Mt. Newman iron ore to cost more
    107 5 Reuter TOKYO, Frl. Japanese steel mills and Australian shippers agreed to raise the prices of Australian Iron ore supplied from the Mount Newman mines by an average of 21 per cent for shipments totalling 6.5 million tonnes In the 1977 and 1978 fiscal
    Reuter  -  107 words
  • Article
    Lock icon Chase opens Manila offshore branch
    62 5 Reuter MANILA, Frl. Chase Manhattan Bank inaugurated its Philippine offshore operation. The bank is one of 16 approved for offshore operations by the central bank. Chase already has offshore units In Singapore and Hongkong and is also Involved In three Philippine financial Institutions, Fillnvest Credit
    Reuter  -  62 words
  • Article
    Lock icon AAR finds CSR offer inadequate
    462 5 Reuter SYDNEY, Frl. Australian Associated Resources (AAR) said Its board, without waiting for professional advice, unanimously resolved CSR's proposed offer of A 51.75 a share Is totally Inadequate. AAR said Its board considered it was in the national Interest that AAR retains Its Independence as
    Reuter  -  462 words
  • Article
    Acmil registers all-round growth
    548 5 SYDNEY, Frl. Acmll reported a record consolidated profit after tax and minority interests of A 510.14 million for the year ended June 30, 1977 up 46.2 per cent from $6.94 million previously. Sales were up 10.8 per cent to $191.34 million from $172.69 million. Tax took
    548 words
  • Article
    Lock icon Royal Dutch/Shell income higher
    365 5 UK COMPANIES Reuter ROYAL Dutch/Shell Group said net income rose to £307 million on net sales proceeds of $5.68 billion In the second quarter of this year from £286 million on sales of £4.6 billion In the 1976 quarter. For the first half of 1977, net
    Reuter  -  365 words
  • Article
    Tube rights to raise £39.3 m
    138 5 TUBE INVESTMENTS said It plans a one-for-four rights Issue at 350p to raise about £39.3 million. The new shares will not receive the 1977 Interim dividend or the 1976 supplemental final dividend. The board expects to recommend dividends totalling 20.95p for 1977, a 10
    138 words
  • Article
    Lock icon Beecham plans 200 pc dividend increase
    288 5 Reuter BEECHAM GROUP said It Slans dividends totalling Bp gross In the year to March 31, an Increase of some 200 per cent on the previous year. The UK Treasury has agreed to the Increase and the board plans to pay some 13p gross
    Reuter  -  288 words
  • Article
    Hamersley Hldgs up
    69 5 MELBOURNE, Frl. On a 13 per cent rise in gross revenue, Hamersley Holdings reported that net profit Increased by 68 per cent to A 529.23 million in the first half of this year from $17.41 million previously. Gross revenue advanced from $169.11 million to $191.33 million. With
    69 words
  • Article
    Lock icon Hoffman appeals against price cuts
    126 5 Reuter AMSTERDAM, Frl. Hoffman-La Roche BV said it will seek an Interim Injunction In The Hague district court on Aug 23 temporarily suspending government Imposed cuts In the price of vallum and llbrlum. Hoffman-La Roche cut its wholesale price of these two products on July
    Reuter  -  126 words
  • Article
    Lock icon Goetaverken issue
    105 5 Reuter LONDON, Frl. The Swedish state-owned shipbuilding concern Ooetaverken is making an US$BO million two-tranche issue under the guarantee of Sweden, a spokesman for Joint lead manager Orion Bank said. The issue comprises $40 million of five-year notes with an Indicated 7H per cent coupon and $40 million
    Reuter  -  105 words
  • Article
    Lock icon Call to reduce taxes
    93 5 Reuter COLOGNE, Fri. German Banking Association president Wllhelm Christians called for a linear cut in. income, wage and corporation taxes to stimulate the German economy. In a statement, Mr. Christians, who is also Joint managing board spokesman of Deutsche Bank Ag, said statistics on orders. production
    Reuter  -  93 words
  • Article
    Lock icon NCB's 10-year bonds
    90 5 Reuter LONDON, Frl. The National Coal Board plans to issue US$lOO million of 10-year bonds in the International market, issue manager, S.G. Warburg said. S.G. Warburg said final terms are expected to be set on Aug 25 and in current conditions a coupon of eight per cent
    Reuter  -  90 words
  • Briefly
    • Article
      Lock icon Workers on short time
      80 5 Reuter PARIS, Frl. Automobiles M. Berliet SA, part of the Renault group, has put 11,000 of Its 21,000 workers on short time because of the poor level of orders, a company spokesman said. Workers in factories making engines, gear boxes and mechanical parts have been sent
      Reuter  -  80 words
    • Article
      Lock icon Eurocredit
      43 5 Reuter FRANKFURT, Fri. Iran's National Petrochemical Company Is seeking a US$36O million Euromarket credit, Euromarket sources said. Spread is expected to be slightly lower than the to one per cent over Llbor on the recent seven-year credit for Iran's telecommunications concern. Reuter.
      Reuter  -  43 words
    • Article
      Lock icon Luxembourg bank seeks 500m francs
      72 5 Reuter BRUSSELS, Fri. Banque Generale Du Luxembourg S.A. will seek 500 million francs for its own account with the issue of 12-year 8"4 per cent bonds, bond sources said. Details have still to be fixed, the sources said, but the issue is expected to come
      Reuter  -  72 words
    • Article
      Swiss loan
      41 5 BASLE, Frl. Oesterreichische Kontrolbank Ag will float an 80 million Swiss franc, five per cent, 15-year loan at par on the Swiss capital market from Aug 25 to 30, Schwelzerlscher Ban kv ere In said as issuing consortium leader.
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      Page 5 Advertisements Column 1
      150 5 PERNAS CHARTER MANAGEMENT SDN. BERHAD The board of directors of Pernas Charter Management Sdn. Berhad are pleased to announce the appointment of the following gentlemen as directors of the company with effect from the 11th August 1977:— EncJk Ahmed Zuknl bin Johari Mr. P.W. Cullen Mr. CJ. Porrletel Mr. E.P.
      150 words
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      Page 5 Advertisements Column 2
      246 5 m 1c? 0 B ICQ r A H flt >f J (I fe 0 iMur) r C w 18K Gold Gold-filled Stainless Steel 57.900 51.475 $1,350 Model 3100 Model 2407-2 Pulsar authorised dealers B.P. Ok SHva Jtwdliri Pis. Ltd. G-21. Supreme House, Penang Road Singapore 9 Tel ***** Benjamin Gift
      246 words
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  • Article
    Share Information Service
    2402 6 1977 High Low Company Last Sal* +orGr's div Div e'rr Gr'a y'M Nat P/E Vai ('«•> Day High Law 8ECTION ONE INDUSTRIALS 154 204 96 230 88 198* 169 223 404 171 136 172 58 212 57* 155 152 182 350 145 Acma Alcom Allied Choc Bala
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  • Article
    Transactions in Singapore
    1504 6 BID and offer prices offldtlhr luted and buimta In and reported to the Stock Exchange of Stafaporv yesterday wtth the number of (Dane traded shown tn bracket* In kMs of 1000 unite unless otherwise verified All Time Settlement Contract* are quoted after the word "Sett." EMg Board
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  • Article
    In Kuala Lumpur
    1644 6 BID and offer prices officially Usted and business in and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets in lots of 1,000 units unless otherwise specified. INDUSTRIALS AJinamata (2.088 2 208) Alaam (1 908) A. Cltaa (0 MB
    1,644 words
  • Article
    Stock options
    95 6 STRIKING prion of the alack option* officially liated aa the Stack of Singapore, the period*, bid aad off*price* aad bwinea* dene yeeterday. with the nun bar of option traded •how* in bracket*. DBS (Sept $3.60) (0.208): Inchcape (Dec $2.40) (0.18B): (March $2.40) (0.288 (Sfjß (Sept $2.85) (0.158): (Dec
    95 words
  • Article
    Unit trusts
    147 6 SINGAPORE UNIT TRUST INCOME BOND UNIT iMuim' prion far Aug 22) (Cmr—t p rtoM) INCOME BOND 1.07 1.13 The Commerce 1.73 1.83 The Saving Fund 1.00 1.08 MARA BUMIPUTRA FUND S pore Prog Fund 0.89 0.90 imaaagan prion i ror Aug ZZ) S pore Security First Bumlputra 2.19
    147 words
  • Article
    CORPORATE BONDS
    133 6 B O T 8 1/2% 1981 (100.000) (***** 103SS) B O T 7 5/8% 1984 (100,000) (998 9948) L T C B J 1982 (100.000) (98SB 995) Credit Lyonnais Floating 1983 (100.000) (98V.8 98\S) DBS Converts 6 1/2% 1991 (100,000) (988 9845) D B S 8 1/2% 1982
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  • Article
    GOVERNMENT BONDS
    93 6 5 1/4% 15/7/78 (250.000) (101.40S) 4 3/4% 1/5/79 (250,000) (100.708 100.856) 5 1/4% 15/10/7* (250.000) (101.558 101 88S) 6 3/4% 15/6/80 (250,000) (105 00S) 5 3/4% 1/8/78-80 (250,000) (101.70S) 5% T F 15/4/81 (250,000) (101 90B) 5% T F 15/10/81 (250.000) (101 85B) S%TF 1/5/83 250,000)(100.10B 100.255) 5
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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
    SES DIPS AGAIN
    640 7 PRICES moved on an easier bias in light and selective trading on the Stock Exchange of Singapore y ester-Profit-taking was particularly evident in section two of the market where the losses were widespread, but marginal. During the opening session, a few shares rallied on carried over buying
    640 words
  • Article
    ELSE MOVES LOWER
    361 7 EASIER conditions continued to rule at the Kuala Lumpur Stock Exchange yesterday with most prices taken slightly lower than their overnight levels. The market opened on a mixed note, but with no noticeable improvement in sight, values soon slipped as profit takers and stale-bull liquidators made their
    361 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      387 7 HONOKONO: The market closed generally slightly firmer after an easier opening. In very quiet trading, dealers said on Friday. The Hang Seng Index was down 0.65 point to close at 419.36. Swire Pacific rose five cents to $6 20. and Whoeleck Marden 2.50 cents to $2,575, while Hongkong Bank
      387 words
    • Article
      Tokyo
      501 7 TOKYO: The market closed steady In fairly active trading, dealers said on Friday. The Dow Jones Average closed at 5.220.11 down 0.15 with volume 350 million shares. The New Index was 384.28. up 0.69. Large-asset shares and leading Issues gained ground on sustained selective demand, while blg-capltal and exportoriented
      501 words
    • Article
      Sydney
      449 7 SYDNEY: The market closed generally lower on profit taking after a firm start, dealers said on Friday. The Sydney All-Ordinaries Index lost 3.10 points to close at 434.38. Among coals. White Industrie* gained seven cents to $1.80, but Aar lost two cents to $1.81 after touching $1.88 and Coal
      449 words
    • Article
      Manila
      118 7 AUG IS Pesos Acoje Mining 0094 unch Atlas Con A 17.10 ♦0.1 Atlas Con. B 17 30 +0.1 BnguloGold 0088 -0 0002 BeneuetCon B 19 00 unch BF Goodrich C'DCP Inro B Lp panto B 11 0.0075 MurtnduqueB 6 50 +0 4 Meralco 3 16 -0 06 Oriental A
      118 words
    • Article
      Amsterdam
      298 7 AMSTERDAM: The market closed mixed to firmer on Thursday. Dutch internationals were firm with Unilever 3.80 guilders higher and ■oyal Dutch 0.70 guilders. Hoogovens rose 1.10 guilders ahead of Its first half year figures to be announced on Friday. Elsewhere banks were generally firmer with Middcn•tandabank rising 1.80 guilders
      298 words
    • Article
      Brussels
      167 7 BRUSSELS: The market was generally lower In very quiet trading, dealers said on Thursday. Local issues to rise Included Hainaut-Sambre Tabacofina, Electrafina and Arbed, but falls included Sofina, Sidro, Hoboken, Electrobel, Vieille Montagne, FN, Clabecq, Wagons-Lits, UCB, Tesaenderloo and St. Koch UK and German shares rose and most Dutch
      167 words
    • Article
      Frankfurt
      267 7 FRANKFURT: Shares closed mixed after some early gains, bourse sources said on Thursday. In electrtcals. BBC rose 5.30 marks. Bm— gained three marks, while In higher banks. Deutsche Bank was up 4.50 marks. Other shares closed mostly little changed except for KHO which lost 1.70 marks. Public authority bonds
      267 words
    • Article
      Milan
      190 7 MILAN: Stocks firmed In fairly active trading at the start of the new account on Thursday, encouraged by expectations that the government will take measures to stimulate share Investment later this month, bourse sources said. Fiat and both Pirellis led Industrials higher. Snia Viacoaa and Montediaon both gained, while
      190 words
    • Article
      Paris
      336 7 PARIS: The drop In call money and latest official statistics showing Industrial production rose In June, helped the market to move slightly higher, dealers said on Thursday. Jacques Borel showed the sharpest rise, advancing nine per cent. BBN Gerviii Duom, which earlier reported higher first half turnover, gained slightly
      336 words
    • Article
      Zurich
      313 7 ZURICH: The market firmed slightly over a broad front on Thursday. Dealers trading was selectively active, and citeo high liquidity of the capital market and lower yields of bonds as main factors for renewed Interest In shares. Major banks were again among prominent gainers with bearer stocks of Baakgoaellachaft,
      313 words
    • Article
      Jo'burg
      379 7 JOHANNESBURG: Gold shares generally moved easier on the stock exchange in slack trading, dealers said on Thursday Heavyweights dropped by up to 25 cents, while losses of up to 10 cents were shown among medium and lightweight Issues. Mining flnanclals were marginally lower in line with producers, coppers were
      379 words
    • Article
      Toronto
      299 7 TORONTO: The market closed mixed In light trading on Thursday. The composite Index was up a fraction but declines led advances 185 to 162. Systems Dimensions was unchanged at $4.60. Sun Life Assurance said its $4.50 a share bid for the company had failed. Coastal Enterprises has Offered $4.60
      299 words
    • Article
      New York
      1302 7 NEW YORK: The stock market staged an Impressive rally in the morning on Thursday, but apparently had second thoughts later In the session, as prices turned around to finish about where they started. Trading was moderate. Initial strength, concentraded again in the glamour Issues, was attributed primarily to
      1,302 words
    • Article
      Indices
      64 7 FINANCIAL TIMES INDUSTRIALS Thursday 487.6 Wednesday 485.3 Week Ago 478.2 DOW JONES AVERAGE INDUSTRIALS Thursday 804.28 Wednesday 864.68 Week Ago 877.43 LONDON DOLLAR PREMIUM Thursday 91* to 82* Wednesday 88 to 88". H.K. HANG SENG Thursday 420.01 Wednesday 418.68 Week Ago 421.08 ALL ORDINARIES Thursday 437.48 Wednesday 441.15 Week
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      Page 7 Advertisements Column 1
      497 7 BUSINESS TIMES Airline Directory Aeroflot Soviet Airlines 110-112 Shaw Centre, Orchard Road, Singapore 9 (Tel: 377.111) Air Ceylon 302-B, 3rd Floor, Marina House Shenton Way, Singapore (1) (Tel: ******8) Ground. Floor, ICS Building, Shenton Way Singapore 1 (Tel: *****11) Air India 16th Floor, UIC Building, Shenton Way, Singapore 1 (Tel:
      497 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      571 8 On the Singapore rubber market yesterday, opening quotations were marked up 0.50 cent in line with steadier London advices and then ruled quietly steady. Past midday, however, prices eased fractionally on lack of buying support, dealers said. Physicals were neglected. The morning session was quiet
      571 words
    • Article
      RAS PRICES
      338 8 Prices In cents per kilo yesterday: Noon Close (per kilo) (per kilo) Int. 1 R.S.S. prompt f o b. Buyers Sellers Buyers Sellers 194 00 195.00N 193.50 194.50N Int 1 R.S.S September 196.50 197 00 190.00 196.50 Int. 1 R.S.S. October 199.25 199.75 199.00 199.50 Int. 2 R.S.S.
      338 words
    • Article
      SSR AND SMR
      98 8 NOON SSR and SMR prices yesterday September October R.A.S. (Current Mth) (F. rwtrd Mth) Buyer* Seller* Buyer* Sellers (oenuperkg) rnt* per k() SSR 20 (1-ton pallet) 194.00 196.00N 195.00 197.OON SSR SO (1-ton pallet) 191.50 193.SON 192.50 194 50N MRELB SMR5CV (1-ton pallet) 215.00 217 00N 215.00
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    • Article
      Closing prices
      28 8 Rubber: August 19 Singapore: September 196.00 cents (down 0.75 cent.) Malaysia: September 197.50 cents (unchanged) Tin: $1,706 (up $15) Official offering: 217 tonnes (up 37 tonnes)
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    • Article
      Rice
      194 8 BANGKOK, Fri. Indicative prices quoted here yesterday were: (In US dollars per tonne fob basis Bangkok) White Rice: 100 pet Ist class 306. 100 pet 2nd 292. 100 pet 3rd 288. 5 pet 277. 10 pet 253. 15 pet 250, 20 pet 247. 25 pet 238. 35 pet unq.
      194 words
    • Article
      Produce exchange
      427 8 PRODUCE dealers in Singapore yesterday experienced another dull period of trading with prices moving on an easier bias. Higher crop production estimates for most of the commodities drew forth many sellers In the local market with buyers generally withdrawn or quoting at unreallstlcally low levels. All attempts to
      427 words
    • Article
      Coffee
      263 8 LONDON, Fri. Coffee finished a relatively quiet morning officially steady, £5 lower to 1'65 higher. 1,477 lots were traded. March closed at a high of £2,110 bid, after selling as low as 12,005. Nearby September gave further ground on Its premium to November and more distant months after gaining
      263 words
    • Article
      Sugar
      218 8 LONDON, Fri. Terminal sugar opened L 1.20 to £0.80 per tonne above yesterday's afternoon closing levels. Sales totalled 393 lots. Dealers said most of the gains were recorded on the kerb in line with a steady trend in New York. Some local buying and shortcovering pushed prices slightly higher
      218 words
    • Article
      Palm oil
      77 8 C.I.F. Rotterdam. US dollars per ton. LONDON: Thursday Previous Malaysia 5% ffa bulk 450 sir Oct 450 sir Sumatra 5% Aug 562 50 sir 562.50 sir Sept 485 pd 490 sir Oct 447 50/445 pds 453 50/480 pd Nov 430 pd 442 50/447 50 pd December 435 pd
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    • Article
      Straits tin market
      258 8 THE Straits tin price In Penang yesterday was up Msls to $1,700 per plcul on an official offering up 37 tonnes to 217 tonnes. In LONDON yesterday, tin closed around ClO down for cash but £15 higher for Three Months standard. High grade was unchanged to £40
      258 words
    • Article
      Cocoa
      193 8 LONDON, Frl. Cocoa had a quiet opening call with prices mixed, £5.50 per tonne down from yesterday (near September at £2,657) to £9 higher. Dealers said there was some Isolated weekend book-squaring but the market lacked any definite feature. Cocoa futures closed the morning very quiet although near the
      193 words
    • Article
      Hongkong comex
      285 8 HONGKONG, Frl. The cotton futures market closed generally higher but ended at the day's low, In very quiet trading, with operators awaiting a fresh lead from the New York market, dealers said. Total turnover rose to 20 lots from yesterday's 17. Open position after yesterday's trading were 140
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    • Article
      Soybeans
      73 8 CHICAGO, Frl. Soybean futures yesterday rallied from early losses to finish the session around the day's highs, posting a 20-cent a bushel gain In the August and 9 3/4 to 14-cent gains In new crop months. Soybean product futures recovered from early weekness to close higher on the day.
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    • Article
      Wheat
      54 8 CHICAGO, Frl. Wheat futures yesterday finished with gains of 1/4 to 1-1/4 cents abushel after fluctuating narrowly on either side of the previous close. Early weakness in soy- bean futures Influenced light speculative selling in wheat but commercial buying and a recovery In beans brought shortcovering which boosted prices
      54 words
    • Article
      Chinese purchases provide support
      332 8 THE week has seen prices fluctuating narrowly around the 195 cents (Singapore) mark for current month One RSS for the most part, to finally close some two cents better following steadier conditions latterly, said Hoiidmy, Cutler, Bath Co. Earlier, there was little fresh feature and trading
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    • Article
      Copper
      312 8 LONDON, Frl. Copper wirebars finished the morning with gains of £4 for cash and £3 for Three Months. Prices worked higher on sporadic pre-weekend covering prompted by the steady New York close and expectations of a moderate decline in warehouse stocks this week, dealers said. Three Months traded up
      312 words
    • Article
      Silver
      268 8 LONDON, Frl. Silver rose by 2.6 to 2.8 pence per troy ounce. Prices rose in the premarket following the overnight rally in New York and the rise In gold this morning with Three Months traded up to 260.0 pence. However, lack of follow-through In buying in the ring caused
      268 words
    • Article
      Gold
      365 8 THE kllobar in Singapore yesterday opened higher at 5511,490 following firmer US closing on Thursday. However, the price soon eased under profit-taking to close at 5511.460. The loco London market opened at U*****.75/145.00 and drifted lower to close at U*****.40 In moderate trading. The London morning fix was U*****.40.
      365 words
    • Article
      Lead
      75 8 LONDON. Fri. Lead rose £13.50 for cash and £12.25 for Three Months. The market was boosted by bear covering prompted by reports of some US physical enquiry. On Thursday, lead dosed with losses of mostly £3 per tonne. The market lacked fresh feature, but picked up partially in sympathy
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    • Article
      Zinc
      82 8 LONDON, Fri. Zinc rose by mostly £7. The metal reflected the general trend with Three Months trading up to £306 a tonne in the ring before profit-taking pared it to £305 on the kerb. A moderate fall In stocks is expected this week. Sales totalled 1,800 tonnes. On Thursday,
      82 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        553 8 SINGAPORE'S foreign exchange market tended on the quiet side yesterday although trading in the Deutsche mark-US$ counter continued to be hectic. Trading was, however, not as hectic as on Thursday. Speculative pressures were very much in evidence, dealers said, but market operators were reluctant to go full steam with
        553 words
      • Article
        Minimum lending rates
        37 8 ACBC 6'« (i. < J Bangkok Bank 7 HSBC Bank of America m Indoauez 6». 7 (>« «>. S'« Bank Negara OCBC Indonesia 7 OL'B 6*4 Chartered Bank 6H UCB 7 6". UMBC 7 DBS CH LOB
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      • Article
        Asian $ rates
        185 8 Asian rates ASIAN currency deposit Interbank rates as at close on Jul; 18 L'8 Dollar* (Spot) Offer Bid 7 days 1 mth 2 mths 3 mths mths mths 12 mths 6 1/16 .6 1/4 .6 S/16 .6 7/16 6 9/16 6 5/8 6 V* 6 6 3/16 6 1/4 6
        185 words
      • Article
        Discount
        49 8 RANGE of prices offered by discount houses on Aug 19. Overnight 2* 3* Call deposit 3% noting Buying Selling 3- Month Treasury bills 3 1/16 2 15/16 3-Month Rink bills 41/4 41/8 3-Month CD 4 11/16 4 9/16 6-Month CD 5 4 7/8 Source: National Discount Co. Ltd.
        49 words
      • Article
        Euro $ rates
        157 8 Euro rates LONDON, Frl. Period Eurodollar deposit rates opened little changed but a slightly softer undertone was reported by dealers following yesterday's fall In the US money supply figures. Day-to-day rates opened steady. Funds were being offered In the middle of quoted ranges In early moderate trading among time deposits,
        157 words
      • Article
        New York
        143 8 NEW YORK. Fri. The dollar fell against most major currencies towards the close, ending a brief afternoon recovery. Dealers attributed the late weakness to larger-than-expected drops in money supply for the week ended Aug 10, making it less likely that the Federal Reserve will move to tighten monetary
        143 words
      • Article
        London
        224 8 LONDON, Frl. The dollar edged up to 2.3275/85 marks from initial Indications of 2.3255/65 but was unchanged from Its close here yesterday, dealers said. They said the dollar weakened in New York after a US$l.5 billion fall in M-l money supply and a $1.1 billion decline in M-2, making
        224 words
      • Article
        Hongkong
        115 8 HONGKONG, Frl. The mark firmed to 2.3250/60 against the US dollar from the 2.3272 mid-point equivalent close in New York, while sterling rose slightly to U551.7400/04 from New York's 1.7392/96 on afternoon buying from Europe, dealers said. They said trading was quiet with dealings centred on marks. The US
        115 words
      • Article
        Tokyo
        124 8 TOKYO, Fri. The US dollar for overnight delivery closed higher at 267.08 yen after a 266.80 opening and 266.90 at yesterday's close, dealers said. The dollar's strength reflected import covering by trading firms and dollar buying by Japanese banks to cover Import settlement needs early next week. But later
        124 words
      • Article
        Australia /NZ
        60 8 AUSTRALIA/NZ exchanges on Aug 19: Australia Sterling 0 6372/0 6304 US dollar 1 1049/1.1001 Ninety-day air mall buying rates: Sterling 0 6534 US dollar 1 1299 Ninety-day forward buying rates: Sterling 0 6339 US dollar 1 0954 New Zealand Sterling 0 5570/0 5539 US dollar 0 9737/0 9637
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      • Article
        Zurich
        54 8 ZURICH exchanges closing quotes on Aug 18 US 2 4273-4283 UK 4 2235-2260 Can 2 2535-2560 W Oerm 104 15-25 Neth 08 73-82 France 49.37-41 Belg 6 78-1/2-80-1/2 Denm 40 48-51 Norw 45 96-46 00 Swed 55 04-08 Italy 0.2744-2747 Austria 14.68-70 Port 6.20-25 Spain 2 86-1/2-87 Arg 0
        54 words
      • Article
        Frankfurt
        41 8 FRANKFURT exchanges opening quotes on Aug 19: U8 2 3255/65 Can 2 .1615/35 UK 4 043/053 Neth 94.65/75 Swltz 95 96/06 Italy 2 631/S France 47.33/43 Norw 44 10/20 Belg (com) 6 520/30 Belg (fin) 6 481/491 Japan 0 8710/20
        41 words
      • Article
        Treasury bills
        50 8 RESULTS of tender held on Aug 19 1977 for 91-day Treasury bills to be Issued from Aug 22 1977 to Aug 26 1977. Offered: 520.000.000 Applied for t50.750.000 Allotted 520.000.000 Accepted Bids 599 26 approximately 58%. higher bids In full A»<Taie»- rale of discount all'i<ti.e< 2 H55«. pa
        50 words
      • Article
        Eurobonds
        203 8 LONDON, Frl. Straight US bonds extended yesterday's gains by up to 1/4 In moderately active trading, dealers said. The fall in the US money supply helped sentiment, dealers added. Canadian and German bonds also firmed but turnover in these was relatively small and rises rarely exceeded 1/8 point. There
        203 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      380 8 from Penguin frtr? 1976 Nobel Prize Winner is at his best again in his latest book To Jerusalem and Back'. As with his recent best-seller 'Humboldt's Gift', Bellow's brilliant images emerge at frequent intervals like sunshine through fog, witty, clever, radiantly imaginative and without doubt, Bellow has become one of
      380 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon HK to levy air navigation charges
      167 9 AFP HONGKONG. Frl. Clvtl aviation authorities here will be levying from November 1 onward navigation charges for commercial aircraft passing through the Hongkong flight Information region without landing at the local airport. Official sources said today that a sliding scale of charges ranging from
      AFP  -  167 words
    • Article
      Hapag-Lloyd's last link in chain
      168 9 HAPAG-LLOYD will inaugurate its fully cellulxr container service between the Pacific Coast of the US and the Far East towards the end of this year. With this service, HapagLloyd will have established the last link In its worldwide chain of container trades. It will be
      168 words
    • Article
      Lock icon Korean shipbuilding picking up fast
      123 9 AFP SEOUL, Fri. The South Korean shipbuilding industry which has slumped badly in the last three years, is picking up well this year, official sources reported today. The sources said the country's five shipyards so far received orders for 41 ships worth US$262 million (SS64O
      AFP  -  123 words
    • Article
      Lock icon Qantas stops flights
      88 9 AP CANBERRA, Fri. Qantas, Australia's international airline, has discontinued its weekly flights to South Africa, government and industry sources said today. Although the sources described the action as "temporary and due to industrial problems," some Members of Parliament expressed fears the discon- tinuation could become permanent In
      AP  -  88 words
    • Article
      Lock icon Japanese to meet AWES in Sept
      101 9 Reuter TOKYO, Frl. Shipbuilding experts from Japan and West European countries will meet in Paris late In September to discuss prospects on the world shipping demand In 1980 and thereafter, the Shipbuilders Association of Japan (SAJ) said. This will be the first meeting in
      Reuter  -  101 words
    • Article
      Drydock in full swing
      108 9 KEPPEL Shipyard's 150,000 dwt drydock at Its new Tuas yard Is now fuMy operational. With the drydocklng of the first ship on June 25 this year the Greek tanker Georgols V "the drydock has experienced full capacity," a spokesman said yesterday. The Tuas yard has been
      108 words
    • Article
      Lock icon German car output
      88 9 Reuter FRANKFURT, Fri. German motor vehicle production in July fell to 217,200 from 358,700 In June because of the holiday season, but was above the 194,600 of July last year, the Motor Vehicle Industry Association said. Car production totalled 201,300 against 332,800 In the previous month and
      Reuter  -  88 words
    • Article
      Lock icon London freight market
      184 9 AP LONDON, Fri. Great Lakes and North Pacific grain operations combined' with US Gulf activity to make North America the centre of activity on an otherwise rather subdued freight market yesterday. Great Lakes charterers worked the "Dunav" to Holland with a 16,000-ton September grain cargo at U5514.25
      AP  -  184 words
    • Article
      OIL-RIG SLUMP BOTTOMS OUT AT LAST
      806 9  -  By TERESA LIM SINGAPORE'S rig-men are smiling again as the slump in the oil rig market has finally bottomed out. The various types of rigs lying idle in Singapore started moving out this year, and all the Jack-ups have left the area or gone
      806 words
    • Article
      Lock icon Two airlines that faced the roughest storms
      660 9 OFNS LONDON, Fri. With rising fuel costs, rising equipment costs, continued recession and too many airplanes chasing too few passengers on major routes, times are tough In the airline business. But few airlines have had to cope with such difficulties In the past
      OFNS  -  660 words
    • Article, Illustration
      IN PORT
      399 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Fujlhoshi Maru (Tanker) (P/O) (JRXZ) (1200 subject gas free) 15/16 Oolden Eastern (0600 subject freeboard) 22 Oolden Glory (0030 tide after King Pearl) 23 Oreen Ray (HODV) (1800 40/41 Guatemala Maru (1100 hauls 25m East after Oolden City hauls) 8/9 Ibn Durald (9KEL)
      399 words
    • Article
      Lock icon Moscow plans its fifth airport
      153 9 UPI MOSCOW, Frl. Moscow will construct Its fifth airport In the 1980s to serve 50 million passengers a year, the Tass News Agency said yesterday. Tass quoted the head of the Aeroproekt Projecting Institute as saying a feasibility report has been prepared and site chosen
      UPI  -  153 words
    • Article
      Lock icon Cammell Laird strike ends
      94 9 AFP LONDON, Fri. Cammell Laird's shipyards at Birkenhead, near Liverpool, will reopen on Monday after a one-month strike, It was learned here yesterday. The decision followed a meeting between 80 strikers and 4,000 workers made Idle by the stoppage and a compromise agreed to by the
      AFP  -  94 words
    • Article
      Lock icon Deep-water port study
      66 9 Reuter MIRI, Fri. An American engineering consultant firm, Stanley Consultant Inc will carry out a detailed study of the Ms3oo million deep-water port at Tanjong Kldurong in Sarawak state, according to state assistant minister of communication and works, Enclk Chong Klun Kong. It is hoped the study
      Reuter  -  66 words
    • Article
      Sanko Asia Line
      156 9 SANKO Asia Line (SAL) U a subsidiary of Sanko Steamship of Tokyo. It started selling* to Singapore from June 1909 BAL maintains regular liner services from the main Japanese ports and Hongkong to Singapore and Port Kelang. Sailings to Penang are subject to cargo Inducements. General ageats:
      156 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      607 9 ARRIVALS DEPARTURES Operat CAL CPA KAL MAS CPA CAL OIA OIA THAI SIA OIA OIA PAL RBA SIA OIA KLM MAS SIA OIA TMA MAS SIA SIA OIA MAS SIA OIA AI MAS SIA PAA SIA OIA SIA ANZ QAL SIA SIA KLM CPA OIA SIA SIA
      607 words
    • Article
      Lock icon Kodama contract scrapped
      156 9 AFP TOKYO, Frl. Lockheed Aircraft Corporation has scrapped the consultant contract concluded with Japanese ultra-rightist Yoshl Kodama, one of the central figures In the Lockheed payoff scandal, It was reported here today. The scrapping of the contract under which the US aircraft maker had sought Kodama's cooperation
      AFP  -  156 words
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  • Article, Illustration
    Lock icon Worries linger over trade imbalances
    1137 10  -  By JOHN FREEMAN Reuter THE non-communist nations of South-east Asia welcome the Increasing flow of Japanese aid, as promised by Premier Takeo Fukuda, but worries persist over trade Imbalances resulting from Japan's massive export drive. This was the view freely expressed In most of the
    Reuter  -  1,137 words
  • Article, Illustration
    Lock icon The atomic age comes to Seoul
    590 10 NYT SEOUL: Some officials here are anticipating what they say Is the coming of the atomic age to South Korea. They are not referring to the bomb, but to the scheduled operation of the nation's first atomic power plant south of here, beginning In
    NYT  -  590 words
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    Lock icon Heimann leaves the 'Lancegate' ajar
    937 10  -  By HEDRICK SMITH NYT WASHINGTON: Rather than disposing of the vexing controversy over budget director Bert Lance, as the White House once hoped, the report by the Comptroller of the Currency, John Helmann, has virtually ensured that the Lance controversy will sputter on Into the
    NYT  -  937 words
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    Lock icon How a financier milked two banks of $122 m
    1751 10  -  David Graiver, 35, an Argentine businessman, was the architect of a US$5O-million plot for a global financial empire which led to the collapse of banks and losses for investors. He reputedly died in a plane crash. ROZ LISTON and JAMES WHITE
    NYT  -  1,751 words
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      266 10 THE ASIAN WALL STREET JODRNAL. In the fast paced competitive world of business, timely information can often mean the difference between success and failure. That's precisely why thousands of Executives have come to rely on THE ASIAN WALL STREET JOURNAL. These men know and appreciate the concise, comprehensive way the
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  • Article
    Chartered orders 55 latest on-line terminals
    174 11 CHARTERED Bank has signed a $2.5 million cmtract with NCR for the purchase of 55 NCR on-line Financial Teller Terminals and three NCR proof machines. The equipment, which will replace existing systems, rates among the more sophisticated to the market and represents the bank's
    174 words
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    Lock icon Four disturbing findings on poverty in Asia
    617 11 UPI MANILA, Frl. A 10-year survey of economic life In rural Asia completed by the Asian Development Bank calls on governments of the region to take decisive and long-delayed action to eliminate the poverty of Its people. The Asian Agricultural Survey, subtitled "Rural
    UPI  -  617 words
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    Lock icon Tokyo firms face dumping probe
    348 11 AP WASHINGTON, Frl. The US Treasury Department said yesterday It will Investigate whether Japanese firms are selling food preservative chemicals at unfairly low prices In the United States to discourage competition from American firms. The investigation had been requested by the Monsanto Co., which said,
    AP  -  348 words
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    Lock icon Fake yen traveller's cheques in S'pore and Europe
    194 11 AP TOKYO, Frl. Fake Japanese yen traveller's cheques valued at 14,590,000 yen (*****.770) have been found in 10 foreign i countries, the Bank of I Tokyo said today. A large-number of < counterfeit travellers's che- < ques, .closely resembling those issued by
    AP  -  194 words
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    Lock icon PVC factories plan extension of cartel
    88 11 AFP TOKYO. Frl. Japan's polyvinyl chloride Industry (PVC) plans to extend its anti-recession cartel expiring at the end of August for another three months, according to the Japan PVC Association. The assolcatlon said 22 firms plan to operate at 50.7 per cent of their
    AFP  -  88 words
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    Lock icon Toyota reports jump in exports
    151 11 AFP TOKYO, Frl. Japan's largest car maker, Toyota, today reported a hefty 32.6 per cent export Increase for July over the same month of last year and a 2.7 per cent rise in production. Toyota motor officials said exports totalled 129,115 cars due to good
    AFP  -  151 words
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    ICSA chief exec due
    87 11 THE secretary and chief executive of the Londonbased Institute of Chartered Secretaries and Administrators, Mr. Barry Barker, is due In Singapore next Tuesday. Mr. Barker will Introduce himself as the new secretary and meet students and members of the institute here. During his three-day stay, Mr.
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    Lock icon Move against CB imports baffles Japanese
    170 11 Reuter TOKYO, Frl. Tlje Electronics Industry Association of Japan said Japanese Citizen's Band (CB) radio manufacturers are puzzled over the new trade protectionist move In the US against CB radio Imports. The association said this in a press statement following the recent decision by
    Reuter  -  170 words
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    Lock icon June industrial index adjusted
    164 11 Reuter TOKYO, Frl. Japan's June industrial production index was revised upwards to 130.9 (base 1970) seasonally adjusted, from the preliminary 129.6, the Trade and Industry Ministry said. The revised index was 1.0 per cent above the 128.9 In May, when It fell 2.3 per cent from
    Reuter  -  164 words
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    Lock icon Stores do more business
    123 11 Reuter TOKYO, Frl. Japan s preliminary seasonallyadjusted Index of department store sales rose 5.5 per cent in July to 266.3 (base 1970) from a revised 252.5 In June, which was down 3.1 Er cent from May, the nlstry of International Trade and Industry said. Actual unadjusted
    Reuter  -  123 words
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    Lock icon Russians appeal for freer East-West trade
    236 11 UPI MOSCOW, Fri. The Soviet Union yesterday renewed ite appeal to the United Statee to remove "unjustified roadblocks" to East-West trade. "It is obvious." the government newspaper Izveetia said, "that removal of unjustified roadblocks and restriction j in international economic exchange. above all in
    UPI  -  236 words
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    Output at Shell up despite adverse factors
    181 11 DESPITE rising crude oil prices and recessionary trends, Shell's refineries here processed more oil last year than In 1975 and are setting their sights on an even higher volume this year. Dr. Richard Hu, chairman and chief executive of Shell Singapore, said this
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    Lock icon Marcos bid to slash deficit with Tokyo
    322 11 AFP MANILA, Frl. The Philippines hopes to reduce by US$lOO million (***** million) Its huge trade deficit with Japan by the end of this year. President Marcos said yesterday. Mr. Marcos was speaking to newsmen after the departure of Prime Minister Takeo Fukuda
    AFP  -  322 words
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    Lock icon Seoul building experts help out Ecuador
    262 11 UPI QUITO, (Ecuador), Frl. A team of South Korean construction expects led by former Korean Cabinet Minister Park Tong-kyu, met yesterday with Ecuadorian engineers interested In establishing new factories to supply cement to a prosperous local Industry plagued by shortages of basic construction materials.
    UPI  -  262 words
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    Lock icon Philippine exports rise
    84 11 Reuter MANILA, Frl. Philippine exports for July were 12.4 per cent up on the same month last year while the total for the first seven months of the year was 20.8 par cent hignar, the Bureau of Customs reported today. Exports«for July were U8t234.il million (*****.72 million!,compared
    Reuter  -  84 words
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    Lock icon Union's quiet support for Aussie curbs
    539 11 Reuter AFP SYDNEY, Frl. Australian union leaders and the opposition Labour Party were noticeably quiet yesterday about the government's decision to further restrict Asian Imports of clothing, textiles and footwear. The lack of reaction seemed to indicate silent support for the government's latest plan
    Reuter; AFP  -  539 words
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    Oriental Development Corp is wound up
    234 11 ORIENTAL Development Corporation was wound up In the High Court yesterday on grounds of Insolvency on the petition of Mosbert Acceptance. ODC had owed Mosbert Acceptance $7.02 million as at Dec. 31,1975, the amount being the total of the balance of a loan owing
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    Lock icon Prediction of surge in tin prices for rest of 1977
    208 11 Reuter LONDON, Frl. The price of tin should surge for the remainder of tnls year, Bank of America said. Last month, countries participating In the International Tin Agreement raised the floor and celling price levels within which prices are allowed
    Reuter  -  208 words
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    Crew gets $49,000 award
    80 11 THE Chief Justice yesterday awarded 30 crew members of Jakartaregistered cargo ship, Mount Aso, $48,955 being wages due to them by the last owners. The ship was arrested on an action In an admiralty suit, taken out by another party, and was sold recently for $1.2
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    Lock icon More US firms may cut copper price
    258 11 AP TUCSON (Arizona) Ftl. Most US copper companies are expected to follow the move by Asarco Inc., one of the largest US copper producers, in cutting copper prices from US 85 cents to US 60 cents a pound (551.56 to $1.44). Asarco's move,
    AP  -  258 words
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    Lock icon Bonuses for Indian workers
    164 11 UPI NEW DELHI, Frl. India's government yesterday approved bonuses to industrial workers. Labour Minister Ravlndra Varma announced at a news conference workers in the organised sector of industry, private and public, would receive a month's pay as bonus. Bonus payments were first introduced 12 years ago.
    UPI  -  164 words
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      370 11 JOURNALISTS WANTED We arc looking for young people who are themselves looking for a challenging and rewarding career. We are Business Times, Singapore's only financial daily; the career is business and financial journalism. The job we're offering is demanding of your time, patience, ingenuity and intelligence. Business Times expects its
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    Citibank to sell stake in FOCL
    510 12 CITIBANK Is planning to sell off Its 40 per cent equity interest In First Oversea Credit Its Joint venture with three Singapore companies to another financial Institution. Its Singapore partners In the finance company venture are Oversea-Chinese Banking Corporation (which owns 45 per cent
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    Lock icon Thanin warns income tax evaders
    136 12 Reuter BANGKOK, Frl. Thai Prime Minister Thanin Kralvlchlen has warned people who avoid paying Income tax that they will face harsher punishments. In a speech to businessmen yesterday, Mr. Thanin said: "Those who fall to abide by the law to pay tax will be sorry
    Reuter  -  136 words
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    Students who are not second best
    279 12 SINGAPORE will see a great expansion In vocational training from 1979 when the revised secondary school system comes into effect. Students will be channelled into vocational training under the new system. At the Commonwealth Secondary school speech and prize-giving day yesterday, Mr. Llm Jit
    279 words
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    LONDON STOCKS
    738 12 LONDON, Frl. The market traded quietly with an easier undertone following disappointment at the Bank of England's unwillingness to reduce Its minimum lending rate currently ruling at seven per cent, dealers said. Government bonds were lower by up to H point among shorts and up to point among
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    Singapore $ included in Natwest Bank index
    530 12 Singapore included in Natwest Bank index SINQAPORE'B currency depreciated 1.8 per cent against those of her trading partners during the first six months of tlus year, according to the National Westminster Bank of London, which uses a basket of 30 currencies to measure the movements of each one against the
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    Shops acquired worth $1.6 m more, board told
    198 12 The Appeal Board (Land Acquisition) was told yesterday that four city shophouses acquired by the government were worth $1.6 million more than the amount paid by the Collector of Land Revenue. The appellants, the trustees of the estate of the late Seah
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    Mostbert House yet to be sold
    246 12 MOSBERT House, taken over by Banque de L'lndochlne et de Suez 1 1/2 years ago as one of the creditors of the Mosbert group of companies, has still not been sold. Now known as L.ewls Court, Mosbert House Is In Buklt Tlmah Road near
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    Seoul's '76 GNP 15pc higher
    107 12 SEOUL, Fri. South Korea's gross national product (GNP) grew by 15.5 per cent last year over 1975 In real terms, final estimates released by the Bank of Korea said today. The bank said the ONP reached 12,143.4 billion won (about 5961.46 billion) in current prices.
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    Lock icon Two-year extension for White Shield
    122 12 Reuter NEW YORK, Frl. White Shield Corp said Pertamlna, the Indonesian state-owned oil and gas company, has granted a two-year extension, beginning Aug. 9, of White Shield's exploration rights under the Lampung Banten (Indonesia) contract area. White Shield said the remaining contract term, Including the
    Reuter  -  122 words
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    TOT opens office
    51 12 THE t Tourist Organisation of Thailand officially opened its Singapore office yesterday. Presiding over the opening ceremony was the Thai Ambassador to Singapore, Mr. Jetn Sucharltkul. The Singapore office Is TOT's seventh overseas office. The director of the office in the Thai Embassy here is Mr. Staporn
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    Lock icon Speed-up in merger of HK exchanges
    95 12 ATP HONGKONG, Frl. Moves to merge Hongkong's four stock exchanges have gained momentum with the reported drafting of proposals for the establishment of the single exchange. Informed sources said today that the proposals were considered at a meeting last week of the working party
    ATP  -  95 words
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    QC admitted to Bar
    69 12 MK. A.H.M. Evans, QC, was admitted to the Singapore Bar yesterday as counsel for an admiralty suit taken up by Bombay Trading of Singapore. Mr. Evans has been briefed to defend "the owners and others in- 4 teres ted" in the cargo boat, Fellcle, in the
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    Benefits for axed KLM workers: Decision put off
    546 12 THE Industrial Arbitration retrenchment was for Court yesterday postponed "ln*mal" reasons. whether KLM whl i e M r. Tan Chek Hln of the Sin ia pore S» iU Employers' Federation who benefits to 17 workers In Its represented KLM aald that cargo
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    ITC has no tin to stop the price gallop
    200 12 IPOH, Fri. -The International Tin Council has no tin to sell to keep the price down, said the ITC executive chairman, Mr. Peter Lai, hers today. The tin price today rose to a record M 51,706 per picul, an increase of
    200 words
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    Oil palm men get $67m more
    95 12 KUALA LUMPUR, Frl. About 45,000 oil palm workers will get M 167.1 million more In wages over the next four years under a collective agreement signed here today. The agreement, effective from Aug 1 this year, was between the National Union of Plantation Workers
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    Lock icon Economy of world is groping in darkness
    350 12 AFP TOKYO, Frl. The world economy has fallen Into one of Its worst periods since the end of the war 30 years ago and is likely to keep groping through the darkness. This gloomy picture was painted In a special report entitled "Wordwide
    AFP  -  350 words
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    Clifford Holding's last resort
    178 12 CLIFFORD Holdings will decide sometime next month whether to take over the running of its revolving restaurant cum look-out deck In Collyer Quay. Informed sources said the Idea of the company operating Its own restaurant Is still under consideration and a final decision will be made
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    Lock icon Quota on footwear from Taiwan
    121 12 Reuter LONDON, Fri. Imports of non-leather shoes, boots and sandals from Taiwan are to be limited to 7.5 million pairs from midnight yesterday until the end of next year, the Department of Trade announced yesterday. Minister for State and Industry Alan Williams commenting on the
    Reuter  -  121 words
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    Lock icon Despite typhoons . . .
    91 12 Despite typhoons Reuter TAIPEI Fri. Taiwan will still achieve Its 13 per cent growth rate target this year despite batterings from two typhoons last month, a top industrial official forecast Mr. William Wei, director of the Industrial Development Bureau, was quoted by the Central News Agency as saying that most
    Reuter  -  91 words
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    Lock icon MNB LENT MONEY TO NATO ARMS FIRM
    139 12 Reuter LONDON, Fri. A Soviet bank lent money to a British armaments factory which was supplying military equipment to Nato Forces. A local councillor, R. John Taylor, said the firm was now in the hands of a receiver appointed by the Moscow Narodny
    Reuter  -  139 words
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    Lock icon Indian steel products
    95 12 AFP NEW DELHI, Frl. India will supply 40,000 tonnes of hot rolled and 20,000 tonnes of cold rolled steel products annually to Thailand, Mr. S. Samaraiungavan, managing director of stateowned Bokaro Steel Ltd said here yesterday. Mr. Samaraiungavan, who recently toured Thailand, Japan and South Korea, told
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    Lock icon Fukuda will honour all his pledges
    144 12 AFP TOKYO. Fri. Prime Minister Takeo Fukuda said today he would implement the pledges he made to South-east Asian countries during his just-completed tour. Mr. Fukuda, who returned from the sixnation trip yesterday, told today's Cabinet meeting Japan has obligations to help improve the
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    Lock icon Reserves down
    35 12 Reuter FRANKFURT, Frl. Germany's net monetary reserves fell DM4OO million (SS4I9 million) to DM86.8 billion in the week ended Aug 15, partly due to intervention on the foreign exchange market, the Bundesbank said.
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      236 12 I "m r J ear m $37/ per copy THEHAMLYN PICTORIAL ATLAS OF THE WORLD A modern and comprehensive atlas has .-tome indispensable both to students of geography and to general readers .\ho want to understand the new economic and political shape of the world. Here, for the first time,
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