The Business Times, 24 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) 300/1/77 WEDNESDAY, AUGUST 24, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon It's OK with Jakarta
      75 1 AFP JAKARTA, Tues. Indonesia has no objection to Singapore's plan to establish a dlesel engine Industry with rated capacity of 500 horsepower and lower as long as such a plant Is not connected to the Asean project, State Secretary Gen. Sudharmono said here today. He was
      AFP  -  75 words
    • Article
      Lock icon EEC jobless up
      74 1 Reuter BRUSSELS, Tues. Unemployment In the nine Common Market countries rose alarmingly to 5.68 million at the end of July, an Increase of 360,000 over the previous month and 12 per cent more than In July 1976, according to EEC statistics issued here. According to the report
      Reuter  -  74 words
    • Article
      Lock icon Postwar record
      47 1 Reuter LONDON, Tues. Unemployment in the UK rose by 11,700 to 1,413,900, seasonally adjusted and excluding school leavers, Employment Department figures show. The third successive monthly rise takes unemployment up to a post-war record of 6 per cent from 5.9 per cent In July. Reuter
      Reuter  -  47 words
    • Article
      Lock icon Deadline for oil firms
      76 1 Reuter LUSAKA, Tues. Zambia Is planning to give 17 oil companies, including leading British, French and United States firms, two weeks to appear in the High Court here to face allegations of Rhodesia sanctions-busting, the Justice Ministry said today. President Kenneth Kaunda's landlocked nation Is also
      Reuter  -  76 words
    • Article
      Lock icon ADB approves loan
      52 1 Reuter MANILA, Tues. The Asian Development Bank said it approved a US$3O million (Ss73 million) loan to Pakistan's government-owned National Development Finance Corp. The 15-year loan, at 8.3 per cent annual Interest, will help meet the corporation's foreign exchange requirements for the chemical, fertiliser, energy and other
      Reuter  -  52 words
    • Article
      Lock icon Computer centre
      53 1 Reuter BANGKOK, Tues. The Asian Institute of Technology (AIT) here today opened a new regional computer centre to protfde computer services and related technology for the institute and public agencies. The centre offers computer training courses and hope to meet the demand for computer technologists trained In latest
      Reuter  -  53 words
    • Article
      Lock icon Dow Jones
      93 1 UPI NEW YORK, Tues. Stocks headed higher early today as bargain hunters found some attractive prices in the wake of the market's severe slide in the past month. Trading was brisk. The Dow Jones industrial average, whlcn gained 3.81 points yesterday, was ahead 3 56 points to 870.85
      UPI  -  93 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      164 1 TRADING on the Stock Exchange of Singapore was generally easier yesterday in the face of fairly heavy scrip deliveries. Reflecting the easier tendency, the Business Times index fell 0.62 point to 406.55 while the Straits Times Industrial average was off 0.82 point at 264.85. Rises Most active
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    • Article
      In Kuala Lumpur
      108 1 Rites Most active Malayan 11.70 Mlnsec 2 30 S«. Besl 3.66 Tronoh 5.60 Berjuntal 7.30 Kramat 4.80 O. Ceramics 1.50 A. Hitam 11.60 8. Trading 6.05 TganuDev 1.55 Aokam 3.76 Foils Lien Hoe 2.35 Olympta 2.11 K. SWltn 4.20 Loy Tape 1.15 •f .30 .30 .30 30
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  • Article
    Job prospects in our industries
    1676 1  -  TWO MAIN PROVIDERS QUEK PICK LIM METAL engineering and electronics will continue to be the main providers of Jobs In Singapore over the next decade. This is the opinion of government officials who have been given the task to see that employment opportunities continue growing
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  • Article
    Up global ladder for OCBC, UOB
    425 1 TWO TOP Singapore banks Oversea-Chinese Banking Corporation and United Overseas Bank have shot up the ladder among the top 500 banks In the non-communist world. Their ranking In terms of deports at end-1976, Is shown in the latest annual survey of the American Banker,
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  • Article
    Lock icon Aussies lose hope in Japan beef mart
    325 1 UPI AFP TOKYO, Tues. Australians see no hope for increasing beef exports to Japan and may look elsewhere because of their '•bitter experience" with the current sugar dispute, Baden Cameron, director of the Australian Cattlemen's Association said today. Mr. Cameron said at a
    UPI; AFP  -  325 words
  • Article
    Lock icon Sugar from Asean partners
    150 1 Reuter BINOAPORE will look Into the possibility of importing about 24,000 tonnes of sugar from Its partners in Asean, a government official said. The official, who declined to be named, said an understanding to this effect was given by Singapore to the Asean trade negotiations working
    Reuter  -  150 words
  • Article
    Lock icon Pledge to exercise more care over cash
    193 1 UPI BASLE, Tum. Nearly all Swias and foreign banks in Switzerland have signed the June agreement to practise greater care in accepting money, the Swim Bankers Association said today. Of the 400 banks belonging to the association only < one has not yet
    UPI  -  193 words
  • Article
    Lock icon 'Cut rates together'
    126 1 Reuter TOKYO. Tum. The praeideat of the Federation of Bankers Associations, Mr. Shuao Muramoto. said bank rate and the beak and postal savings deposit rates should be lowered at tiie same tine and by the same ma rain, if the Bank of Japan is to cut the
    Reuter  -  126 words
  • Article
    Local rubber shippers face higher freights
    497 1 LOCAL rubber shippers face the prospect of higher freight rates for shipments through Far Eastern Freight Conference (FEFC) lines, with the decision by the Rubber Association of Singapore (RAS) not to hold any negotiations at all with the FEFC. The FEFC yesterday met the
    497 words
  • Article
    Lock icon Tough action call
    122 1 AP KUALA LUMPUR. Tues. Tough action on the part of the Federation of Asean Shippers' Council (FABC) against the regular freight Increase is needed, the Timber Trade Review said tnHflv The editorial of its latest review, a quarterly publication of the Malaysian Timber Industry Board, said that
    AP  -  122 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      67 1 With a Reputation for Unrivalled Security and Fair Dealing over 132 years, Our Clients can be Assured... ••t*. Royal Insurance <mcorpo>M*4 in Inland) kx)ks after you. Fast 18th Fir., Ocean Building, Coilyar Quay, S'porel.Tsi: ***** (10 lines) fhJj 1 I Overseas News/TV ft Overseas Stocks Radio/Crossword P2 Commodities Overseas News
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    • Advertisement
      Page 1 Advertisements Column 2
      93 1 /a ■A At Chase you get to check your checks With a current account at Chase, you don't just get a statement every month. We return all your paid checks too. So you can check the checks. For easier account reconciliation. And the returned checks are also proof of payment.
      93 words
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      Page 1 Advertisements Column 3
      0 1 >`+^;''%]'|-)@"/\]%>%-](>=>[)<+
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    • Advertisement
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      157 1 NOW Cool healthy pollutno-hee drmnq is POSSIBLE kjAßuenu COOL MASTER PuntACf SEE BACK PAGE Any person sealed at this desk can do the work of three people Yes. one person to handle all customer accounts. Calculate and complete invoices. Prepare statements. Process payroll. Control the ledgers. Control stock flow. All
      157 words
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  • OVERSEAS
    • Article
      Lock icon US coffee prices are down
      455 2 AFP UPI NEW YORK, Tues. Coffee prices in the United States are beginning to drop In the wake of an unusual Jump at the start of the year, and retail sales of coffee are staging a timid comeback. Per-pound (0.45 kilo) coffee prices now average
      AFP; UPI  -  455 words
    • Article
      Lock icon More value for farm goods
      247 2 AP WASHINGTON, Tues. The US Agriculture Department now expects farm exports for the year ending Sept 30 to rise by 5.4 per cent in value from last year, despite a forecast decline of 6.7 per cent in volume. That would mean 111 million tonnes of
      AP  -  247 words
    • Article
      Lock icon Miners urged to return to work
      98 2 AFP CHARLESTON (West Virginia), Tues. Some 85,000 West Virginia miners, on unofficial strike since June 22, have been urged by their union to return to work. The International executive board of the United Mine Workers advised them to resume work pending a settlement In
      AFP  -  98 words
    • Article
      Lock icon Financial Times row ends
      125 2 Reuter LONDON, Tues. The Financial Times will appear tomorrow for the first time since Aug 4 following the end of a dispute Involving Its compositors, a Joint management-union statement said today. The two sides met yesterday at Trades Union Congress headquarters for the first time since
      Reuter  -  125 words
    • Article
      Lock icon N. Yemen joins the big copper league
      184 2 Reuter SANAA, Tun. Copper ore has been found in sufficient quantities at two places in North Yemen to make the country one of the world's largest producers of copper, a geological report submitted to the government said. The newspaper AlThawra said yesterday that
      Reuter  -  184 words
    • Article
      Lock icon High-grade bauxite find in Venezuela
      334 2 UPI LOS PIOUAOB (Venezuela), Tues. Venezuela has discovered 500 million tonnes of high grade bauxite In a remote mountain range south of the Orinoco River, ending a quartercentury quest for the mineral. Venezuelan geologists descended onto the 1,066metre range In helicopters and opened some 170
      UPI  -  334 words
    • Article
      Lock icon NBC chief sacked in big shakeup
      394 2 NYT NEW YORK, Tues. In an extensive managerial shakeup believed to have been prompted by the network's poor showing In the ratings last season, the National Broadcasting Co. yesterday fired Its president and appointed Mr. Robert Mulnolland, a seasoned executive of NBC News, to
      NYT  -  394 words
    • Article
      Lock icon Soviet domination fear if US leaves ILO
      419 2 UPI GENEVA, Tues. Top officials at the International Labour Organisation (ILO) fear a Soviet drive to dominate the UN agency if the United States makes good Its threat to pull out in November. The fear is less widespread among the rank and file,
      UPI  -  419 words
    • Article
      Lock icon Four nettles insurers have to grasp
      1127 2 Economist NEW YORK: The American Insurance industry has Just emerged from the most devastating crisis In Its hlstqry a crisis that destroyed not only the Industry's profits, but many of Its most cherished Illusions as well. The Industry suffered underwriting losses of US$9 billion
      Economist  -  1,127 words
    • Article
      Lock icon End to down tools?
      118 2 AFP LONDON, Tues. Toolmakers at the Lucas Components group were today considering an offer from the management designed to end their sevenweek strike. Union chiefs and company executives worked out the peace formula last night at government arbitration offices In Birmingham. Production of three Leyland models
      AFP  -  118 words
    • Article
      Lock icon Invited by Carter
      54 2 Reuter WASHINGTON, Tues. President Carter has Invited Prime Minister Leo Tlndemans of Belgium to meet him on Sept 8. Belgium is the current president of the European Economic Community, and Mr. Tlndemans will be paying the official visit In his capacity as Prime Minister and In his
      Reuter  -  54 words
    • Article
      Lock icon Chinese Red Party gets new charter
      452 2 Reuter PEKING, Tues. China today published a new Communist Party Constitution which lays heavy stress on discipline but offers Increased freedom of speech within the party. The constitution, published by the New China News Agency, sets economic development as a major goal and Includes
      Reuter  -  452 words
    • Article
      Lock icon Not that 'taxing' on UK execs
      143 3 UPI LONDON. Tues. A survey yesterday of personal taxation and living costs In the main industrialised countries outside the communist bloc showed there are three European countries In which executives are more highly taxed than in Britain. These are Denmark, Finland and Sweden. The
      UPI  -  143 words
    • Article
      Lock icon Devaluation of escudo foreseen
      352 3 Reuter LONDON, Tues. Devaluation of the Portuguese escudo of between 8 per cent and 15 per cent Is likely in the near term, foreign exchange dealers here said. The government would prefer to delay an adjustment until the end of the year or early spring when,
      Reuter  -  352 words
    • Article
      Lock icon Carter to pay Bank of Georgia for campaign trips
      837 3 NYT WASHINOTON, Tues. The White House spokesman said yesterday the Georgia Bank formerly headed by Mr. Bert Lance, director of the Office of Management and Budget, would be reimbursed for the cost of five flights which President Carter took on a
      NYT  -  837 words
    • Article
      Lock icon New Zealand deficit narrows to $1.1b
      95 3 Reuter WELLINGTON, Tues. New Zealand's current account deficit fell to NZ$49O million (Ssl.l billion) In the year ended July 31 from $701 million in the previous 12 months, the Reserve Bank said. The trade balance turned to a $224 million surplus from a $204
      Reuter  -  95 words
    • Article
      Lock icon Austerity drive to prop up ailing economy
      135 3 Reuter ANKARA, Tues. Turkish officials have drafted a package of austerity measures intended to stabilise the ailing economy, a senior central bank official said yesterday. The programme may be announced by Prime Minister Suleyman Demlrel this week, the official said. Prices would be
      Reuter  -  135 words
    • Article
      Lock icon GNP of W. Bank up 11pc
      167 3 AFP JERUSALEM, Tues. The Gross National Product of the West Bank sector rose by 11 per cent In 1976, as against a 4 per cent decline in 1975, official statistics showed yesterday. The announcement of the figures also said that the proportion of the
      AFP  -  167 words
    • Article
      Lock icon Price rise tapering off?
      98 3 AFP ROME, Tues. The Italian consumer price Index showed a rise of 0.3 per cent in June over the May level, the smallest monthly Increase since the start of the year. The Increases in the Index have been dropping off since the start of the year,
      AFP  -  98 words
    • Article
      Arab underwriters are staging a comeback
      1353 3 ARAB UNDERWRITERS are fast moving to realise the potential they have in the Eurobond market. Although they have lost some ground In the bond flotation stakes lately, they are leaving no doubt as to their intention of playing an increasing role In underwriting activities.
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    • Article
      Lock icon US budget deficit rises $4.4 billion
      302 3 Reuter WASHINGTON. Tues. The US second quarter budget deficit measured on a'national income and product account basis grew by US$l.B billion (554.42 billion) to a seasonally ad- us ted annual rate of $40.6 illllon, the Commerce Department said. The second quarter deficit comoared with
      Reuter  -  302 words
    • Article
      Lock icon Durable goods orders fall
      104 3 Reuter WASHINGTON, Tues. Orders received by US durable goods manufacturers dropped US$2.6 billion or 4.4 per cent to a seasonally adjusted $55.96 billion In July, the Commerce Department said. The fall compared with a one per cent drop for June and marked the steepest decline since
      Reuter  -  104 words
    • Article
      Lock icon Harrier jets for Spain
      79 3 Reuter LONDON, Tues. British aerospace subsidiary Hawker Siddeley Aviation said the Spanish navy has ordered five Harrier Jump jets to Join the eight it already has in service. Together with orders from the UK Royal Navy and Royal Air Force the number of Harrier Jets now
      Reuter  -  79 words
    • Article
      Lock icon Eleven taken off problem banks list
      166 3 Rueter WASHINGTON. Tues. The Federal Deposit Insurance Corp reported that the number of banks on Its problem list fell by 11 over the first half of the year. The agency said 368 banks were on the list as of June 30, up from 367
      Rueter  -  166 words
    • Article
      Lock icon Schedule of oil and gas lease sales
      139 3 Reuter WASHINGTON, Tues. The US Interior Department announced a revised planning schedule for oil and gas lease sales on the outer continental shelf for the period 1979 to 1981. The agency said the schedule calls for five sales in 1979, four In 1980
      Reuter  -  139 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      102 2 r V f I 1 4 r i s j u savours of Lunch or dine in a grill room that savours of Olde England with food just as savoury. The Stables an ideal place to combine business with pleasure. Cosy and private, with English-manner service too. Chefs Specialities Lobster
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      319 2 SINGAPORE 5 3.00 PM Opening announcements followed by Serbanika (MalayRepeat)" 3.30 Diary Of Events (Malay) 3.35 Wild, Wild World Of Animals Mink Pond (Repeat) 0 4.00 Stars in Action Top Secret 4.25 Intermission 6.00 Opening announcements followed by Electric Company 6.30 News in brief 0 6.35 Last Of The Wild
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      700 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Aug 23 at Singapore airport. Maximum Temperature Associated Humidity Minimum Temperature Associated Humidity Hours of Sunshine Rainfall in Millimetres Total Rainfall for the Month Total Rainy Days for the Month 8 9 15| P6 1 W 126 127
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      139 3 FICHET-BAUCHE IS PLEASED TO ANNOUNCE THE APPOINTMENT OF REDIFFUSION SERVICES (S) PTE. LTD AS THEIR SOLE AGENT IN SINGAPORE AND BRUNEI REDIFFUSION is well established, has a good reputation for integrity and has the resources for installation and maintenance which match the high quality of FICHET BAUCHE security equipment. The
      139 words
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  • COMPANY NEWS
    • Article, Illustration
      Sime's choice a move in the right direction
      1310 4  -  By SUSAN BEVAN KUALA LUMPUR, Tues. Multi-base, multi-natio-nal, Slme Darby, has such a history of controversy that the choice of Its new chief executive seemed almost bound to prove controversial somewhere along the line. However in Mr James Scott, whose appointment, was
      1,310 words
    • Article
      Commodity producers urged to act together
      1008 4 THE chairman of United Malacca Rubber Estates, Tun Tan Slew Sin, has urged producers of primary commodities to act together to fix prices of rubber, tin, palm oil and other commodities. Voicing his opinion on this matter, the chairman and former Finance Minister of
      1,008 words
    • Article
      Consumer loans: Shift in Bank Negara policies
      786 4 KUALA LUMPUR, Tues. The move by Bank Negara to allow consumer loans by commercial banks represents a turnaround from the bank's policies. The shift seems Intended to spur Industry by pushing up demand for consumer durables. Bank Negara was previously emphaslng that loans
      786 words
    • Article
      Alexandra profit lower
      282 4 ALEXANDRA Holdings group pre-tax profit edged two per cent lower to $580,531 In the year ended March 1977. The profit setback was due largely to the poorer performances of its subsidiaries. At the company level, pre-tax profit rose 26 per cent from 1373,649 to $470,623. From this
      282 words
    • Article
      DIVIDENDS ANNOUNCED
      281 4 Current payment Em Data Date payable Total for the year Total for prevtoua year George Kent Malay *iaa Tobacco Island ft Pea. Pan Electric Malayan Cement Selangor Dredging Berjaya Kawat L'td Malacca Selangor Propertiea Alexandra Hoidinga C. Sugar* International Wood Pahaag Coaeolidatad Keck Sen* Yeo Hiap Seng (M)
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    • Article
      CHICAGO BOARD OPTIONS
      1304 4 On Aug 22 TRADING on the Chicago Board Options Exchange came to 94.555 contracts on Monday against 94,535 on Friday. OPTION OCT JAN APL STOCK Alcoa 45 21/2 35/8 41/2 46 3/8 Alcoa 90 5/8 1 3/8 21/2 46 3/8 Alcoa 60 UNTRD UNTRD UNTRD 46 3/8
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    • Article
      PDC claims gains not subject to tax
      481 4 PACIFIC DEVELOPMENT Credit maintains that the profit arising from the sale of shares In Landbanq and freehold land In Penang are of a capital gains nature and therefore not subject to tax. Replying to the Stock Exchange of Singapore query on whether any
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    • COMPANY MEETINGS
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      Page 4 Advertisements Column 1
      387 4 y©U ACE INVITED to the First International Exhibition of Business Equipment Services in Southeast Asia >4B€X" 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,
      387 words
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  • Article
    Lock icon American Motors reverses loss
    136 5 NORTH AMERICAN COMPANIES Reuter AMERICAN MOTORS Corporation chairman Roy Chapln Jr said that while car sales are down this year, the number four car marker has reversed a US$46 million loss of last year and may break even or show a slight profit for the current
    Reuter  -  136 words
  • Article
    Lock icon Pan Sound discovers minerals
    87 5 Reuter PAN SOUND Joint Venture said It discovered a silver, lead, zinc and copper deposit on Admiralty Island that could be worth up to US$lOO million. The company said the 28 sq. km deposit runs from tidewater to about 1,188 metres on a mountainside on the
    Reuter  -  87 words
  • Article
    Lock icon Std & Poor raises MAC bond rating
    215 5 Std Poor raises MAC bond rating Reuter STANDARD AND POOR'S Corp has raised Its credit rating on the second resolution bonds of the Municipal Assistance Corp (MAC) to slngle-A from trlple-B plus. The corporation plans the negotiated sale of US$2OO minion of Its 1977 serles-8 second resolution bonds as part
    Reuter  -  215 words
  • Article
    Carnation
    46 5 CARNATION said It Increased its quarterly dividend to 25 cents a share from 22Vi cents previously. The quarterly dividend had been 45 cents, prior to a two-for-one stock split. Meanwhile, Reynolds Metals has also raised Its quarterly dividend to 37 Vi cents from 30 cents.
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  • Article
    Lock icon Apco sells Arkansas refinery to Total
    127 5 Reuter APCO OIL CORP said It signed a definitive agreement to sell Its Arkansas City, Kansas, refinery, all associated crude and refined product pipelines and terminals as well as Its Canadian oil and gas producing properties to Total Petroleum (North America) Ltd. The companies
    Reuter  -  127 words
  • Article
    Lock icon Why Bally shares are bought
    309 5 EUROPEAN COMPANIES Reuter ZURICH, Tues. The board of C.F. Bally AG said financier Werner Rey and Syndlkats-AG bought their Bally shares, not only for economic reasons, but to prevent a sale of Bally shares to foreign Interests. The board has all reasonable assurances that no
    Reuter  -  309 words
  • Article
    Lock icon Brown Boveri
    51 5 Reuter ZURICH, Tues. Brown Boveri plans to float a 100 million franc option loan In the second half of September, capital market sources said. Bonds worth a nominal 1,000 francs are expected to give the right to purchase three newly created participation certificates over a number of years.
    Reuter  -  51 words
  • Article
    Credit Suisse
    48 5 ZURICH. Tues. The 100 million franc, 4 1/2 percent, 12-year loan at 100 per cent floated by Credit Suisse from Aug 16 to 22 was considerably over subscribed the bank said. Of the total, 20 million francs were taken up to convert a maturing bond Issue.
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  • Article
    Lock icon IRI will consider bid for Condotte
    209 5 Reuter ROME, Tues. The state Industrial holdings company IRI will consider over the next few .greeks a bid from potential buyers of its 52 per cent stake in public works firm Condotte D' Acqua Spra, Industry sources said. Condotte chairman Lorls Corbl said he
    Reuter  -  209 words
  • Article
    Lock icon Sharp downturn at Mary Kathleen
    283 5 ASIAN COMPANIES Reuter MELBOURNE, Tues. Mary Kathleen Uranium has suffered sharply escalated downturn in the 1977 first half, with losses doubling to ASB.3 million from $4.2 million last time. The company said results were abnormally affected by production problems and the Increased cost of producing
    Reuter  -  283 words
  • Article
    Lock icon Higher costs depress Chrysler
    240 5 Reuter ADELAIDE, Tues. Chrylser Australia suffered an unaudited consolidated net operating loss of A 53.13 million on sales of $131.24 million In the first halfyear ended June 1977. In the corresponding half. It had achieved a profit of $94,000 on a turnover of $128.21 million. No
    Reuter  -  240 words
  • Article
    Lock icon Hampton acquires Hutchison stake
    174 5 Reuter SYDNEY, Tues. Hampton Gold Mining Areas Ltd has acquired 1.35 million nominal A5O-cent fully paid shares and 97,200 nominal 50-cent shares of which 15 cents each have been paid In Silver Valley Minerals from Hutchison International Ltd, Capel Court Corp. Ltd said. Hampton Areas' stake
    Reuter  -  174 words
  • Article
    Lock icon Sanyo silent on tie-up plan with Emerson
    82 5 Reuter TOKYO, Tues. Sanyo Electric Co Ltd said It was still negotiating with an Italian television maker, Emerson Electronics Spa, for a capital and business link In which Sanyo is to acquire a 33 per cent stake in the Italian firm. The Japanese
    Reuter  -  82 words
  • Article
    Lock icon Harbour Centre payout
    102 5 Reuter HONGKONG, Tues. Hongkong and Kowloon Wharf subsidiary. Harbour Centre Development Is to raise its interim dividend to HK 37 cents from 32 cents last time. The company said In a statement It expects to pay a final dividend of 82 cents compared with 1976's final of
    Reuter  -  102 words
  • Article
    Lock icon ERS
    28 5 Reuter MELBOURNE, Tues. Electrolytic Refining and Smelting Co of Australia said It cuts its ex-works Port Kembala copper price to A$ 1,060 a tonne from $1,080. Reuter.
    Reuter  -  28 words
  • Article
    Lock icon Two agree to intensify cooperation
    87 5 AFP BELGRADE, Tues. The Asian International Electronic (AIE) firm of Hongkong and electronics industries of NIS, Yugoslavia, plan to Intensify their business cooperation, launched two years ago, It was announced here yesterday. Talks on such cooperation took place In Belgrade yesterday. Illja Vaklc, president of
    AFP  -  87 words
  • Article
    Lock icon Woodside Petroleum out of the red
    88 5 Reuter MELBOURNE, Tues. Woodside Petroleum has pulled Itself out of the red with an unaudited consolidated operating profit of A 5227,000 for the six months ended June 1977, compared with a loss of $76,000 last time. The profit Is achieved on a revenue of
    Reuter  -  88 words
  • Article
    Lock icon Japanese firms develop recorders
    77 5 Reuter TOKYO, Tues. Sony Corp and Sanyo Electric Co Ltd said they have separately developed homeuse video tape recorders for the European market. The two recorders are adapted to the television systems now in used In Europe. Sony said it hopes to start exporting the recorders
    Reuter  -  77 words
  • Article
    Loan pact
    24 5 LONDON, Tues. Indonesia has signed a US$ll.3 million loan with a syndicate of banks. Wells Fargo Bank NA, acting as agent, said.
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  • Article
    Timely source of replacement work
    1414 5 W. ASIAN OPPORTUNITIES LONDON, Tues. For many construction firms worldwide, opportunities in West Asia have been a timely source of replacement work for ailing order-books in their own recession-hit economies. But because of the size of Gulf contracts, their proliferation and the terms on which
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  • Article
    Lock icon Armco Steel resumes discount
    96 5 Reuter ARMCO STEEL CORP said It has resumed Its "foreign fighter" programme of discounts to compete with structural steel Imports, effective with orders booked on Aug 19. The company said Its programme offers discounts averaging UBs3o a tonne on the most commonly-used (A-36) wide flange structural
    Reuter  -  96 words
  • Article
    Lock icon Corporate profit
    83 5 Reuter US CORPORATE profit grew US$ll.7 billion to a seasonably adjusted annual rate of $173.4 billion In the second quarter, the Commerce Department said. Corporate profit had grown to $6.9 billion In the first quarter. The Department said corporations' tax liability Bew to $69.3 billion from 4.4 billion,
    Reuter  -  83 words
  • Article
    Lock icon Falconbridge
    47 5 Reuter FALCONBRIDGE Nickel Mines said It will omit the dividend for the third quarter of this year, because of the depressed nickel market conditions, heavy capital expenditures on a smaller environmental improvement project In Sudbury. Ontario, and the financial strain of carrying substantial nickel inventories. Reuter.
    Reuter  -  47 words
  • Article
    Lock icon Ruhrkohle closes coking plants
    104 5 AFP ESSEN,Tues. —The Ruhr coal company, Ruhrkohle AG has decided to close five coking plants with a total annual output of 3,8 million tonnes. The closures, caused by stagnation in the steel market, will be spread over this year and next. The 1,655 workers Involved will
    AFP  -  104 words
  • Article
    Lock icon French banks take over Brown Harriman
    83 5 Reuter LONDON, Tues. Credit Commercial De France and Banque Internationale Pour L'Afrlque have Jointly acquired all the Issued capital of Brown Harriman and International Banks Ltd, Brown Harriman said. From today the bank, which will be 50/ 50 owned by the two French banks,
    Reuter  -  83 words
  • Article
    Lock icon Amalgamated Metal up
    88 5 UK COMPANIES Reuter AMALGAMATED METAL CORP. has raised pre-tax profit to £4.19 million from £2.79 million in its first half-year ended June, 1977. Sales In this period rose to £561 million from £455 million. Earnings per share are 28.8p (15.2p) before extraordinary debit £35,000 (credit £354,000) and
    Reuter  -  88 words
  • Article
    Lock icon Rennies Consolidated earnings decline
    116 5 Reuter JOHANNESBURG, Tues. Rennles Consolidated Holdings saw its taxed attributable profit for the first six months fall from 3.31 million rand to 1.56 million rand. Earnings per share came to Just 6.5 cents (15.4), and the interim dividend will be cut to four cents (nine). It
    Reuter  -  116 words
  • Article
    Lock icon A. Rilling drills well for Phillips
    196 5 Reuter ATLANTIC RILLING Co Ltd said it will drill a test well for Phillips Petroleum Co on block 205/25 west of the Shetland Isles in the area in which British Petroleum recently struck oil. The rig, Atlantic 1, will move to the block when
    Reuter  -  196 words
  • Article
    Lock icon Accord on terms for Hunt shares
    156 5 Reuter TURNER AND NEWALL said it reached agreement with Philip A Hunt Chemical Corp of New Jersey on terms of an offer to be made by Turner and Newatl Industries Inc, a wholly-owned subsidiary, for cash purchase of about 52 per cent of the
    Reuter  -  156 words
  • Article
    Lock icon BOC increases income
    131 5 Reuter BOC INTERNATIONAL has managed to raise Its pre-tax profit in the first nine months from £52.2 million £60.4 million. Sales rose In the same period from £442.3 million to £499.1 million. Earnings per share come to 9.1p compared with 7.78p previously. Profit is after operating costs
    Reuter  -  131 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      155 5 Excellent Food, Right Atmosphere That's Four Seasons A truly first-class restaurant right in the heart of town. Where expert chefs prepare the finest French and other Continental cuisines connoisseurs of fine food rave about and other restaurants envy. Where plush Ebza^>ethanstyle decor create an atmosphere of old-world loveliness, setting the
      155 words
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  • Article
    Share Information Service
    2399 6 1J77 High Low Laat Company Sale +orGr'» div Div C'tt Gr'a N« y'M P/E Vol D«y COM) High L»w 8ECTION ONE INDUSTRIALS 154 204 100 230 88* 198* 169 223 404 171 136 172 58 212 57* 155 152 182 350 145 Acma Alcom Allied Choc Bata
    2,399 words
  • Article
    Transactions in Singapore
    1439 6 BID and ottm prices officially listed and tiaatmn In and reported to the Stock Exchange of Singapore y eaterday with the number of shares traded Mown In brackets inlouof 1000 unlto unless otherwise specified All Tin* Settlement Contracts art quoted after the word "Sett." Btf Board dealt
    1,439 words
  • Article
    In Kuala Lumpur
    1815 6 BID and offer price* officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets in IoU of 1,000 units unless otherwise specified. INDUSTRIAL* Ajinamat* (2 05B). Al«am (1906). A. CtM* (0.978 0.988) (2) 0
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  • Article
    Stock options
    53 6 STRIKING prim of the stack option* officially listed on the Stack EicWjfr of Singapore. the periods, bid and o«r prices and business dona yesterday, with the number of option* traded shown in brackets. Inchcape (March $2.40) (0.255) U O B (March $3 20) (0.158 0 255) Vtrarnei (March
    53 words
  • Article
    Unit trusts
    152 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Muufcn' price for Au« 24) (Current pi ■icea) 1.07 1.13 The Commerce.... 1.73 183 INCOME BOND The Saving Fund 1.02 108 S pore Prog Fund 0.80 0.91 MARA BlMIPllRA FUND S pore Security (Manager*' price* for Aug 24) Fund 1 52 l.fllxd
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  • Article
    CORPORATE BONDS
    170 6 B O T 8 1/2% 1981 (100,00 C) (103 WB 103*S) B O T 7 5/8% 1984 (100,000) (998 99V*S) LTCBJ 1982 (100,000)(88HB 98%8) Credit LyonnaU Floating 1983. (100,000) (98VkB 98S8) DBS Convert* 6 1/2% 1991 (100,000) (988 98*8) D B 8 8 1/2% 1982 (100,000) (101HB 102
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  • Article
    GOVERNMENT BONDS
    104 6 Rep Spore 1) Mark 7% 1982 (100,000) (1018 101*S) Rep Spore 6 1/2% 1983 (100,000) (99%8 100HS) Rep Spore 7 3/4% 1987 (100,000) (100HB 1018) 5 1/4% 15/7/78 (250,000) (101.458) 4 3/4% 1/5/79 (250,000) (100.T38 100.838) 5 1/4% 15/10/79 (250,000) (101.658 101.958) C 3/4% 15/6/80 (250,000) (104.90B) 6
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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 TENDS EASIER
    675 7 GENERALLY easier condition* prevailed (br want of follow-through buying at the Stock Exchange of Singapore yeeterday. It waa fairly obvious that the market waa labouring under some strain, brought about by the fairly heavy scrip deliveries at tike broking houses. Quality stocks skewed some signs of vulnerability
    675 words
  • Article
    GOOD GAINS IN TINS
    341 7 A GENERALLY Irregular trend existed on the Kuala Lumpur stock market yesterday, with prices ending mixed. Operators were still concentrating their attention on tin stocks and a couple of industrial lower liners which saw firm support. But on the whole, sentiment remained uncertain, leaving a major
    341 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      340 7 HONOKONO; The market closed little changed with more active trading towards the close, dealers said on Tuseday. The Hang Seng index rose 0.10 to close to 421.13 points. Whsslsch Martian was actively traded after Monday's final results and closed five cents higher at $2.65, they said. floagkoag Land and
      340 words
    • Article
      Tokyo
      464 7 TOKYO: Share prices recovered moderately In light trading, dealers said on Tuesday. The Dow Jones Average rose 18.56 to close at 5,183.80 with volume 240 million shares. The New index was 383.11 up 1.29. Selective demand was seen for large-asset shares Including Heiwa Real Estate, Tokyo Marine Insurance, and
      464 words
    • Article
      Sydney
      445 7 SYDNEY: The market continued lower on lack of buying Interest following the national wage case decision and ahead of the government's announcement on uranium development, dealers said on Tuesday. The Sydney All-Ordinaries index lost 3.90 points to close at 427.23. BHP fell 10 cents to $5.46, while CBR held
      445 words
    • Article
      Manila
      164 7 MANILA: The market closed mixed with oils and commercial averages Increasing fractionally while mines declined, dealers said on Tuesday. Turnover Increased to 0.35 million pesos from Monday's 4.97 million. Gainers included Atlas Coo B, Le panto, Philex B, Phil Overleaf, and San Miffuel A but Philex A, Oriental A
      164 words
    • Article
      Bangkok
      106 7 AUG a Bahts Asia Fibre 204 -10 Bangkok Bank 303 Bangkok Invest. 288 -10 Bangkok-Metro-politan Bank Bata 720 -10 Berll Jucker 438 -10 CharoongThal unci) Wire 1M Dumex Dustt Thanl 234 Faber Merlin Pint Trust 190 -t Indo-Thai Industrial Finance Oorp 1275 -10 J And J Ho 284 unch
      106 words
    • Article
      Amsterdam
      311 7 AMSTERDAM:- The market closed weak over a broad front following a weaker Wall Street, dealers said on Monday. Royal Dutch, 4.30 guilders lower, was hardest hit In Dutch Internationals. Hoogevens lost 1.40 guilders, partly caused by the higher first half loss announced last Friday. Elsewhere, losses of more than
      311 words
    • Article
      Brussels
      100 7 BRUSSELS: The market was narrowly mixed In quiet trading, dealers said on Monday. Local Issues to rise Included Solvay, Arbed, Gb-ln— Bin and Cockerill. UCB, Teeeenderloo, Hainaut-Sambre, Traction and SBR were lower. Gold mines and foreign stocks were narrowly mixed where changed. PetroAaa was lower, Canadian Pftnfiu unchanged and
      100 words
    • Article
      Frankfurt
      317 7 FRANKFURT: Shares dropped in low activity on Monday on a follow up of Friday's weakness. Initiated mainly by BasTs disappointing first half report, dealers said. Banks and chemicals led losers, with Deutsche dropping 3.50 marks, Base three ana Bayer 1.90. Electrlcals, engineerings and autos were also weaker, with Daimler
      317 words
    • Article
      Milan
      146 7 MILAN: Stocks moved moderately higher In fairly active trading, encouraged by continued expectations of government measures to stimulate share Investment, bourse sources said on Monday. Most leading Industrials and flnanclals gained. Fiat, Montediaon, both Pirellis and Geaeraie ImmoMliare firmed. Pirelli SPA was little changed. Bonds were quiet. Aue a
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    • Article
      Paris
      373 7 PARIS: The market was slower all round In a thin session cut short by a bomb scare, dealers said on Monday. Rumours last Friday that French retail price Inflation might have been as low as 0.9 per cent In July, which contributed to the market' firmness at the end
      373 words
    • Article
      Zurich
      283 7 ZURICH: The market was narrowly mixed with an easier bias, dealers mid on Monday. Banks showed minor variations, with Leu lower and Hypo Wiaterthur and Baakgeaaellschaft bearer higher. Among flnanclals. Bally shares hardly reacted to the company's board statement. Itala-Saiaoe featured gains, reaching a new high for the year
      283 words
    • Article
      Jo'burg
      380 7 JOHANNESBURG: Gold shares were easier In quiet trading In line with the lower bullion price, dealers said on Monday. AF Lease featured in the gold sector, losing 105 cents to 545 on local selling following weekend press comment, dealers said. Financial minings were steady and Anglos gained five cents
      380 words
    • Article
      Toronto
      282 7 TORONTO: The market recovered some earlier losses but closed lower on Monday. The composite Index, off 3.5 at mid-day, finished 1.3 points lower. Declines led advances by 226 to 140. Most active Industrial was Banquc Ctudltu* National, off one to 13V4 on 100,300 shares. Including a 99,000 share block.
      282 words
    • Article
      New York
      1154 7 NEW YORK: Bargain hunting In bif name Issues reversed a morning decline on the New York stock exchange on Monday, leaving prices slightly higher In light trading. Analysts blamed early selling on a wave of prime rate Increases, touched off last Friday by Citibank, to seven per cent
      1,154 words
    • Article
      Indices
      65 7 FINANCIAL TIMES INDUSTRIALS Monday 485.6 Friday 487.7 Week Ago 478.4 DOW JONES AVERAGE INDUSTRIALS Monday 887.29 Friday 863 48 Week Ago 874.18 LONDON DOLLAR PREMIUM Monday 88S to 89 S Friday 89* to 90 >4 H.K. HANG SENG Monday 421.03 Friday 419.36 Week Ago 418.27 SYDNEY INDUSTRIALS Monday 359.10
      65 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      503 7 BUSINESS TIMES Airline Directory Acroflot Soviet Airlines 110-112 Show Centre, Orchard Road, Singapore 9 (Tel: 377.111) Air Ceylon 302-B, 3rd Floor, Marina House Shenton Way, Singapore (1) (Tel: *****99) Ground. Floor, ICB Building, Shenton Way Singapore 1 (Tel: *****11) 16th Floor, UIC Building, Shenton Way, Singapore 1 (Tel: 2205.277) a;
      503 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      521 8 ON the Singapore rubber market yesterday, opening quotations were about unchanged and prices then advanced about half a cent on light speculative buying backed by physicals demand for early September delivery of RSS Four for the US, and some upcountry covering of RSS One and
      521 words
    • Article
      R.A.S. PRICES
      326 8 Prices in cents per kilo yesterday: Noon Close (per kilo) (perkllo) Buyers Sellers Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 197.00 198.00N 197.25 198.2SN Int. 1 R.S.S. September 198 50 198.75 198.75 199.25 Int. 1 R.S.S. October 201 25 201.75 201.50 202 00 Int. 2 R.S.S. 196.50 197
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    • Article
      SSR AND SMR
      99 8 NOON SSR and SMR prices yesterday R.A.S. Septi mber October (CvmatMth) (Ferw ard Mtk) Buver» Seller* Buyer* Seller* (cent* P«r kg) (cent perkc) SSR 20 (1-ton pallet) 194.50 196.50N 195.50 197.50N SSR 50 (1-ton pallet) 192.00 194.00N 193.00 195 00N MRELB SMR5CV (1-ton pallet) 215.00 217.00N 215.00
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    • Article
      Closing prices
      27 8 Rubber: August 23 Singapore: September 198.75 cents (up 0.50 cent.) Malaysia: September 200.00 cents (unchanged) Tin: 91,725 (unchanged) Official offering: 220 tonnes (down 15 tonnes)
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    • Article
      Rice
      187 8 BANGKOK, Tue, Indicative prices quoted here today were: Prices in US dollars per tonne rob basis Bangkok White Rice: 100 pet Ist class 308. 100 pet 2nd 292. 100 pet 3rd 288, Sect 271, 10 pet 253. 15 pet 250. 20 pet 247.25 pet 238 35 pet una. Broken:
      187 words
    • Article
      Produce exchange
      550 8 GENERALLY quiet conditions prevailed on the Singapore produce market yesterday. Overseas buying Interest continued to be seriously lacking for moat commodities. Prices were steady. For the first time In weeks, white peppers came under some selling pressure from origins like Indonesia and Sarawak. With a bigger Indonesian crop
      550 words
    • Article
      Coffee
      206 8 LONDON, Tues. Coffee finished the opening call £6 up to £7 down, in trading of 156 lots compared with 209 at yesterday's call. September finished at £2,837. Prices moved up initially in sympathy with the firmer close in New York. However, dealers did note that New York trading volume
      206 words
    • Article
      Palm oil
      73 8 C.I.F. Rotterdam. US dollars per ton. LONDON: Monday PrwtoiM Malaysia 5% ffa bulk: No* 428 pd Jan 420 50 pd Sumatra 5%: Aug 562.50 sir 562 50 sir Sept MO.sir 480 Sir Oct 447.50 sir 450 sir Nov 430 sir 437.50 sir Dec 427.50sslr 432.50 sir January 430
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    • Article
      Sugar
      231 8 LONDON, Tues. Terminal sugar was higher at the opening call by £1.10 (August 1978 at £130 bid) to £0.25 per tonne but eased back in generally quiet trading on lack of fresh feature. The London dally raws prices was £1 up at £108 but whites were unchanged at £101.
      231 words
    • Article
      Tin
      365 8 THE Straits tin price In Penang yesterday was unchanged at M 81.725 per plcul on an official offering down IS tonnes to 220 tonnes. Following steady London advices, some buying interest from all sources, particularly the US, helped underpin prices, dealers said. In LONDON yesterday, tin lost mostly £00
      365 words
    • Article
      Cocoa
      194 8 LONDON, Tues. Terminal cocoa was higher the opening call by £37 (near September at £2,601) to £7 per tonne in a technical rally after yesterday's substantial delclne. Near September recorded the largest advance due to a realignment of differentials, dealers said. Outsider and Jobber shortcovering provided modest support, allied
      194 words
    • Article
      Hongkong comex
      276 8 HONGKONG, Tues. The cotton futures market closed slightly easier In moderately active trading, closely In line with the overnight decline In New York, dealers said. Total turnover rose to 38 lots from yesterday's 13. Open position after yesterday's trading were 135 lots, centring on March delivery with 57
      276 words
    • Article
      Soybeans
      160 8 CHICAGO, Tues. The nearby August soybean contract posted a loss of 27tt cents a bushel yesterday while the new crop months were 1V» to nine cents down from Friday. Early In the session, a leading brokerage house that has been linked to large speculative Interests sold about 800,000 bushels
      160 words
    • Article
      Wheat
      110 8 CHICAGO, Tues. The four nearby wheat futures contracts once again broke through to new season lows as net losses yesterday ranged from 2Y» to 2* cents a bushel. The nearby September contract closed at USs2.l4*, down from the prior seasonal low of $1.16*. The selling momentum in the soybean
      110 words
    • Article
      Copper
      297 8 LONDON, Tues. Copper eased by mostly £12.50 for wire bars. Cash traded down to £040 and Three Months to £000, the lowest levels for about 18 months. Dealers reported a loss of confidence Induced by the failure of the market to sustain last week's rally. They said today's easier
      297 words
    • Article
      Silver
      243 8 LONDON, Tues. Silver lost 1.5 to 1.0 pence per troy ounce. Prices were marked lower initially In the pre-market, reflecting the overnight declines in New York, dealers said. Values subsequently drifted lower under modest liquidation prompted by the decline In gold and the trend in base metals, they added.
      243 words
    • Article
      Gold
      329 8 ON the Singapore gold market yesterday, the kllobar opened at SSI 1,450 and closed at 5511,415 due to weakness In the Ss/ USS rate. On the London Market the metal opened at U*****.00/30 and closed at U*****.85/ 144.05 with narrow fluctuation. The London morning fix was U*****.75, down $0.35
      329 words
    • Article
      Lead
      117 8 LONDON, Tues. Lead was £6.50 lower for cash and £6.25 down for Three Months. Dealers said the market was Influenced by the easier trend in copper and when Three Months traded down to £320 on the pre-market, stoploss orders were touched off. The selling Initially met little resistance until
      117 words
    • Article
      Zinc
      114 8 LONDON, Tues. Zinc had morning losses of £11.25 for cash and £10.75 for Three Months. Lower copper was fully reflected by zinc where mixed selling and stoploss orders came to a market lacking any fresh outside demand to stimulate buying Interest, trade sources said. Three Months traded from £304
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  • MONEY AND EXCHANGES
    • Article
      Singapore
      494 8 THE Singapore local money market saw some panicky moments during initial trading In the term counters following the Monetary Authority of Singapore's Invitation to tender for the Government's $500 million bonds on Thursday. Lender banks were generally reluctant to lower their offers in One to Three Months deposits initially.
      494 words
    • Article
      Minimum lending rates
      57 8 acbc w l First Chicago 6H Algemetie Btik 6*< Citibank Bangkok Bank 7 HSBC «V, Bank of America (>■, Indoeuez «>. Bank of China 7 Malayan Banking 6»4 Bank of Tokyo m MiUui Bank fi'« Bank Nafara OCBC «*4 Indoneeia 7 OUB Cbartered Beak (H UCB 7
      57 words
    • Article
      Asian $ rates
      148 8 Asian rates ASIAN currency depotft Interbank «*te« u at cIom on Aug 13: US Dalian (Spat) 7 day* 1 mth 2 mth* Smttu 6 mth* mthJ 12 mth* 1/1« 6 1/8 8 1/4 «1/2 Oli/16 613/18 87/8 8 19/16 6 61/8 6M 68/16 611/16 63/4 8w. ft». Dm*. 1 mth
      148 words
    • Article
      Discount
      43 8 RANGE of price* offered by discount houses on Auf 23 Overnight 1H to 3* Call deposit 3* Bay SslllM 3-Month Treasury bills 3 27/8 3-Month Btnk btlls 4* 4* 3-Month CD 4* 4* 6-Month CD 5 4% Source: National Discount Co. Ltd
      43 words
    • Article
      Euro $ rates
      138 8 Euro rates LONDON, Tues. Eurodollar deposits opened little changed and held steady In early quiet trading, dealers said. The slightly higher Fed funds rate of six per cent after Federal Reserve Bank Intervention to drain excess funds at 5-15/18 through reverse repurchase agreements had little early Impact on rates, dealers
      138 words
    • Article
      Australia/NZ
      58 8 AUBTRALIA/NZ exchanges on Aug 23: Australia: Sterling 1 1051'1 1005 US dollar 0 6373/0 6304 Ninety-day atr mall buying rates: Sterling 0 #535 U8 dolTa ***** Ninety-day forward buying rate*: Sterling 0 6336 US dollar 1.1303 New Zealand: Sterling 0.5671/ 0.5541 US dollar 0 *740/ 0 9640 Ninety-day forward
      58 words
    • Article
      New York
      150 8 NEW YORK, Tues. The dollar closed weaker yesterday after a quiet trading session, with early gains erased by news of the sharpest drop for the past 31 months in US durable goods orders for July, dealers said. The dollar earlier drifted higher in thin volume, aided around mid-session
      150 words
    • Article
      London
      281 8 LONDON, Tues. The dollar eased In thin early trading to around 2.3180/ 90 marks from 2.3220/ 30 overnight. A sharp drop in US durable goods orders In July and a weaker trend in the US unit in the Far East depressed the dollar initially, dealers said. Trading was thin
      281 words
    • Article
      Tokyo
      110 8 TOKYO, Tues. The US dollar for overnight delivery closed at 266.80 yen, after a 266.70 opening and 266.95 at yesterday's close. The dollar fell initially, reflecting overnight weakness abroad, to 266.90 at one point on forward dollar buying by traders to cover Import contracts and slow sales of dollar
      110 words
    • Article
      Hongkong
      121 8 HONGKONG, Tues. The US dollar eased further against most currencies 'following the downward trend In New York, but firmed slightly against the yen in moderate trading. The US unit recovered to a late 2.3188/98 marks, compared with 2.3202/13 in New York, after falling to 2.3170/80 earlier. The dollar may
      121 words
    • Article
      Zurich
      50 8 ZURICH exchanges closing quotes on Aug 22: US 2 4007-4104 UK 4 .1910-1835 Can 2 2385-2405 W Oerm 103 80-87 Neth 98.27-34 France 49.14-18 Belg 6.77-1/4 78 Denm 40 24-27 Norw 45 63-66 Bwed 54 67-71 Italy 0 2729-2732 Austria 14.62-64 Port 6.20-24 Spain 2.84-3/4-85-1/4 Arg 0.55-65 Japan 0.90-1/42.0-3/4
      50 words
    • Article
      Frankfurt
      38 8 FRANKFURT exchanges opening quotes on Aug 23: US 2.3175/85 Can 2.1580/00 UK 4 036/45 Neth 94.60/70 Swlti 96.35/45 Italy 2.624/32 France 47 32/42 Norw 43 90/00 Belg (com) 8 52/53 Belg (fin) 6 40/51 Japan 0 8662/92
      38 words
    • Article
      Eurobonds
      319 8 LONDON, Tues. Trading continued quiet in Eurobonds, dealers said. High coupon US straight bonds firmed by up to 1/4 on small interest but little change was seen elsewhere. Canadian and German bonds held steady as did US and Japanese convertibles. Straight* BM Offer Austria 8 V. 90 101S 102%
      319 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      169 8 'yrl» m I' 9 MONTHLY ECONOMIC REPORTS With monthly politicol supplement for UP-TO-DATE HANDY REFERENCE ASIA RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide tp the latest developments that have taken place in all important sectors of the economies of countries in East and Southeast Asia.
      169 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Final talks on BA Concorde
      216 9 TWO senior British Airways' officials will be in Singapore today to finalise negotiations with the Singapore Airlines for a joint venture to start a regular London-Singapore Concorde service. Mr. Gordon Davidson, the Concorde project director and Mr. Sandy Shore, BA's eastern route manager, will meet
      216 words
    • Article
      Jurong Shipyard
      48 9 JURONG Shipyard Limited will be holding a ceremony on Thursday to launch "Neptune Iris" a freedom vessel ordered by the Singapore national line, Neptune Orient Lines (NOL). The vessel, worth about $21 million, is sixth in a series of seven freedom type vessels ordered by NOL.
      48 words
    • Article
      TIA plans lower fares
      321 9 NEW YORK, Tues. Trans International Airlines, the subsidiary of the Transamerlca Corp. that bills itself as the world's largest charter carrier, escalated the war over intercontinental air fares yesterday, this time making Incursions Into Asia. Mr. Henry Hoff, the president of Trans International, asked the Civil
      321 words
    • Article
      Successful voyage of Arktika
      198 9 MOSCOW, Tues. The successful voyage of the atomic ice breaker Arktika to the North Pole will help revise building techniques for new container ships and more powerful icebreakers, the Tass News Agency said yesterday. The icebreaker, the first in history to make a high latitude run
      198 words
    • Article
      Marine Builders' secret formula
      651 9  -  By TERESA LIM MARINE BUILDERS' claim that within one year of Incorporation It has built about 30 vessels is, according to managing director Foon Luan Yak, no vain boast. "We are, in fact, negotiating for another contract at present this one is worth about $0 million
      651 words
    • Article
      FAR EAST FREIGHTS
      726 9 CONDITIONS on the freight market last week continued to be generally dull, but with some Improvement in South American activity following rumours that the Soviet Union might be Interested in buying a large quantity of soya beans with all the usual outlets represented, along with business to
      726 words
    • Article, Illustration
      IN PORT
      282 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Coromont (3ELZ) (2000) 5 Eumaeus (D/L) (0630 after Bunga Melatl It Pazln) 35/36 Olso Maru (JFYC) (1500 27/28 Hugheverett (0600) 38/39 Loon Sheng (HOJM) (0800 25/26 Marl (SYYQ) (0900 after Joinvllle) 1/2 PASIR PANJANG WHARVES Kinrlkl Maru 21 (2300 after Blue River) Qdns.
      282 words
    • Article
      Lock icon London freight market
      206 9 AP LONDON, Tues. Chartering over the weekend showed a pronounced upsurge particularly In the North American and South American grain trades, although little change In the overall rate pattern was evident yesterday. However, In the E. S. Gulf loading area a 55,000-ton grain loader was taken for
      AP  -  206 words
    • Article
      Lock icon HK all-cargo airline
      59 9 AFP HONGKONG Tues. Hongkong's all-cargo airline,. Transmerldlan Air Cargo (Hongkong) Ltd, yesterday Inaugurated a DCB service between here and Britain. The service Is between Hongkong and Stansted, near London, via Maastricht In Holland. The DCB can carry 40 tons of goods and can fly to Britain in
      AFP  -  59 words
    • Article
      DEPARTURES
      573 9 ARRIVALS Loco Operator Number Time From TMA TL304B 0530 TPE MAS MH682 0810 KCH PAN PA847 0810 SFO/HNL/OUM CPA CX710 1000 HLP OIA OA08O 1030 HLP THAI TG423 1035 BKK SLA SQ211 1045 HLP THAI TO081 1050 BKK OIA GA944 1055 PKU OIA GA908 1100 MES PAL PR501 1115
      573 words
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      Page 9 Advertisements Column 1
      1028 9 China trade... a US$2O Mllion goldmine Here's how you can tap it In a series of bold moves, China's new leadership has embarked on an ambitious economic development program aimed at accomplishing the modernization of the country's industry, agriculture, technology and national defence. According to senior officials interviewed in Peking,
      1,028 words
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  • Article
    Lock icon Many issues still to be resolved
    1941 10  -  NEW ANTI-BOYCOTT LAW By AGIS SALPUKAS NYT WITH the scratching of President Carter's pen on June 22, compliance with the Arab boycott of Israel became Illegal. The intention of the new law to limit the involvement of United States companies in the boycott is
    NYT  -  1,941 words
  • Article, Illustration
    Lock icon Why capitalists won't invest in Thailand
    1695 10 The Economist THAILAND is a paradigm of private enterprise in which capitalists don't want to Invest. Despite a sound economy and a rightwing government dedicated to free enterprise, private investment (both domestic and foreign) has virtually dried up. This summer saw signs that It
    The Economist; Source: Thailand Custome Department  -  1,695 words
  • Article
    Lock icon A 'JAPAN' IN GARDENA
    667 10  -  By ROBERT LINDSEY NYT OARDENA, Calif: A motorist could get loot In this southern California city of 4,500 and think he had wandered into Japan. The tallest building in town Is the Mitsubishi Bank. At the Pacific Square Shopping Centre there are 40 shops, and It
    NYT  -  667 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      43 10 >- i =m se -'-■m @1 .-1% s Wf-m Peter Bench ley -■"A- 'Better than JAWS, ever escalating shocks' -77 WE 'Cracking entertainment' -DAILY TELFA;R \PH <"*• 'For the second time -the book you cant put down' -nun mail READ THE BOOK SEE THE FILM
      43 words
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  • Article
    Lock icon Jakarta aero industry —10 years to top
    142 11 AFP JAKARTA. Tues. Indonesia will have a viable aircraft industry of an International standard In five to 10 years, according to Indonesian Nurtanlo Aircraft Industry Company's president-director, Professor Habibie. The Nurtanlo aircraft rilant was opened on Aug 23 ast year In Bandung, central
    AFP  -  142 words
  • Article
    Exporters assured by MRELB
    399 11 KUALA LUMPUR, Tues. The Malaysian Rubber Exchange and Licensing Board (MRELB) has assured rubber exporters that they will not face any Inconvenience when the board takes over the endorsing of certificates of origin for exports next year. At a press conference today, the board's chairman Hajl
    399 words
  • Article
    Question of just paying lip service to marketing
    756 11 THE decline in the number of market research companies in Singapore over the past year has prompted one big question: Are our companies merely paying lip service to modern marketing and forgetting to talk to the consumer? After all, consumer satisfaction is
    756 words
  • Article
    Lock icon Bank of NSW in Samoan venture
    187 11 UPI SYDNEY, Tues. The Bank of New South Wales, Australia's oldest and largest trading bank in the south-west Pacific area, has entered the banking field in Western Samoa, chief general manager Robert White said today. He said the Wales had become equal shareholders with
    UPI  -  187 words
  • Article
    Lock icon Saudi plan to beat port jam
    109 11 AFP HONGKONG, Tues. Local shippers have sought and obtained details of new regulations Introduced by the Saudi Arabian Port Authority to end congestion In ports on the Red Sea and Persian Gulf. Shipping circles said today that according to the information they received, the
    AFP  -  109 words
  • Article
    Lock icon Greenery leaves its mark
    82 11 AFP BANGKOK, Tues. Deputy Bangkok Governor Supavastr Pannachet has returned from a week-long visit to Singapore full or praise for the Island Republic's greenery. Besides the systematic Slanting of trees and owers, Dr. Supavastr was also Impressed by Singapore's cleanliness which, he noted, was affected by
    AFP  -  82 words
  • Article
    Lock icon Textile exports
    35 11 Reuter HONOKONO, Tues. Taiwan exported 334.5 million square metres of textiles to the US, Canada and the EEC up to Aug 9 this year, the Central News Agency said, quoting textile exporters. Reuter.
    Reuter  -  35 words
  • Article
    Lock icon Power supply link project
    131 11 Reuter BANGKOK, Tues. Thailand and Malaysia have approved a project to link power supply lines, according to the Electricity Generating Authorities of Thailand (EGAT). EGAT deputy manager, Kamthon Slnthuvanond, said the Thai Cabinet last week authorised the Finance Ministry to seek a US$l.B million (554.19 million)
    Reuter  -  131 words
  • Article
    Lock icon Meat, livestock demand may soar by 1990
    366 11 AFP KUALA LUMPUR, Tues. Malaysia's domestic demand for meat and livestock products Is expected to increase from two lo five times by 1990. This was stated In a report at the second session of the Regional Animal Productlon and Health Commission for Asia,
    AFP  -  366 words
  • Article
    Lock icon Direct S'pore-Thai rail container service plan
    281 11 AFP Reuter KUALA LUMPUR, Tues. The Malayan Railway is planning a direct container service from Singapore to Bangkok by the end of the year, Its commercial director, Mr. T. Antolne, disclosed today. He told a press conference that a dummy run from Butterworth to
    AFP; Reuter  -  281 words
  • Article
    Lock icon Thai output of rubber likely to be higher
    180 11 Reuter BANGKOK, Tues. Thailand's natural rubber production is expected to rise by about 20,000 tonnes this year to between 400,000 and 410,000 tonnes, the Board of Trade said. Its weekly bulletin also said rubber exports this year were expected to rise to
    Reuter  -  180 words
  • Article
    Stada courses on skill-building
    117 11 THE Singapore Training and Development Association (Stada) will conduct eight skill-building workshops and courses between now and March next year. The course on Overview of Human Resource to be held this month is a repeat programme The Instructional Technology Workshop Is also this month and will
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  • Article
    Workshop on futures research techniques
    104 11 THE (UN) Earth Day Observance and Planetary Citizens' Council of Singapore is to sponsor a Futures Research Techniques Workshop for corporate planners here. The three-day workshop will be held from Nov 14 this yeas. The workshop will be led by Dr. Burt Nanus, director of
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  • Article
    Staff from Marco Polo says thanks
    124 11 MARCO Polo staff yesterday visited 280 companies to say "thank you" for patronising the hotel. Some 70 staff, ranging from chambermaids ana bell boys to reservation clerks and sales officers, left the hotel en masse in a fleet of taxis early in the morning
    124 words
  • Article
    Congress of Girl Fridays
    85 11 THE third Asian Congress of Secretaries will be held in Singapore from March 5 to 11 next year. The theme of the oneweek congress Is "The secretary in a modern era." Topics Include the secretary in a transformed computerised world, public relations and the secretary, secretary/
    85 words
  • Article
    Changes in the wind for Kedah and Per lis
    751 11 LONDON, Tues. The faces of Kedah and Perils may be expected to change slowly In the next few years when plans for developing: their resources, roads ana! social amenities on a wide scale are Implemented. The plans Include: The establishment of
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  • Article
    Lock icon KL banks' total assets and liabilities higher in May
    185 11 Reuter KUALA LUMPUR, Tues. Total assets and liabilities of commercial banks in Malaysia rose to M 515.13 billion at endMay from $14.64 billion a month earlier and $11.88 billion at endMay last year, Bank Negara statistics showed. The year-on-year rise was
    Reuter  -  185 words
  • Article
    Finger walking in Yellow Pages does help indeed
    242 11 A RECENT survey reveals that people do use the Yellow Pages In the telephone directory and "let their fingers do the walking." The survey was conducted In May to find out "how many people find It In the Yellow Pages." Seven basic
    242 words
  • Article
    Lock icon US-Seoul textile quota talks get under way
    239 11 AP SEOUL, Tues. The United States opened Its second round of talks today for a new textile quota agreement with South Korea to replace the current accord expiring at the end of September. The first round of negotiations in Washington ended In a
    AP  -  239 words
  • Article
    Lock icon Thai-B'desh trade pact
    59 11 Reuter BANGKOK. Tues Bangladesh ana ThallnnJ have signed an agr«*»inent to promote and expand trade between the two countries, Commerce Ministry officials said today. Under the agreement Bangladesh will buy 37 types of Thai goods including rice, rubber, tin and maize while Thailand Will import printing paper
    Reuter  -  59 words
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  • Article
    Lock icon Manila bid for sugar contracts
    420 12 Reuter MANILA, Tues. The Philippines Is to negotiate long-term contracts for sugar exports to New Zealand, Malaysia and Singapore, informed sources said. They said the Philippine Sugar Commission (Phllsucom), which recently took over responsibility for domestic and export sugar trading, has agreed to hold talks
    Reuter  -  420 words
  • Article
    Lock icon New proposals urged
    301 12 Reuter TOKYO, Tues. The Japanese Government said It told sugar refiners here to present fresh proposals to Australian growers to break the deadlock in talks over their long term supply contract. Mr. Kwosulml Suglyama, Director of the Agriculture and Forestry Ministry's Food Marketing Bureau, told a press
    Reuter  -  301 words
  • Article
    School to produce 1,000 seamen a year
    176 12 WHEN the National Maritime Board's (NMB) $3 million shore-based school is completed In 1978, it will be able to produce 1,000 full-fledged seamen a year. Well-qualified instructors will be recruited to staff the new school and enrolment will stand at 250 at any
    176 words
  • Article
    Lock icon Japanese will have to revise economic targets
    224 12 JPI TOKYO. Tues. The Economic Planning Agency Mid the government will have to revise its economic projections for the 1977 fiscal year ending March 31, 1978, including that for the current account balance of payment*. It had earlier set a target for the
    JPI  -  224 words
  • Article
    Minister hints of unpleasant steps
    326 12 SINGAPOREANS can expect a further dose of unpleasant medicine from the Government to ensure the country's long-term health. This was hinted at last night by the Minister of State for Defence, Mr. Bernard Chen, when he spoke at the National Day celebration dinner of his
    326 words
  • Article
    Centre to train airport personnel
    128 12 THE Government and the United Nations Development Programme will Join hands to build a regional training centre in Singapore for aerodrome flreflghtlng and airport management techniques. Under this project, costing more than $1 million, aviation personnel from the Asia-Pacific region will be trained here. The
    128 words
  • Article
    Lock icon TNCs not always beneficial to host
    139 12 Reuter MANILA, Tues. Transnational Corporations (TNCs) do not always contribute to the economic development of the host countries where they operate, according to the World Association of Lawyers Committee on Taxation. In a report before the panel on the code of conduct and taxation
    Reuter  -  139 words
  • Article
    Display of opals
    33 12 SOME $1 million worth of Australian opals will be exhibited at the Singapore Handicraft Centre from Aug. 28 to Sept. 3. The exhibition is sponsored by Opal and Diamond Centre.
    33 words
  • Article
    Lock icon Growing Nepal-Tibet trade
    196 12 Growing NepalTibet trade AFP KATHMANDU, Tues. Nepal's trade with the Chinese autonomous region of Tibet Is gradually growing, despite transportation problems. The two sides traded over U*****,000 (552.2 million) worth of goods in the past year, with the balance In favour of Nepal by a margin of $122,000, an official
    AFP  -  196 words
  • Article
    Bond market turning active
    504 12 THERE have been signs of Increased activity In the Singapore bond market* In the past 18 months. This has prompted the broking firm of Lyall and Evatt to direct Its commentary to the two existing bond markets in the Republic the secondary market In Singapore government
    504 words
  • Article
    Wearne offer: OCBC group's entitlement
    616 12 THE Oversea-Chinese Banking Corporation group of companies will acquire another 1.6 million shares in Wearne Brothers if they accept the one-for-slx offer by a major Wearne shareholder. This will raise the OCBC group's holding In Wearne to Just over 25 per cent. The group has
    616 words
  • Article
    Lock icon Go-slow delays thousands at UK airports
    335 12 UPI LONDON, Tues. An eight-day-old work slowdown by air traffic control assistants today forced cancellation of a British Airways Concorde flight to Washington and hit thousands of travellers with steadily lengthening departure delays. Employment Secretary Albert Booth called a meeting wlthleaders of the Control
    UPI  -  335 words
  • Article
    Golden Hope to open for business soon
    295 12 SINGAPORE'S newest stockbroklng firm. Golden Hope Securities, Is expected to start business within a month. The Stock Exchange of Singapore has already approved Golden Hope's application to take over the seat given up by K.S. Foo and Co. It Is now up to
    295 words
  • Article, Illustration
    Mattar now Minister of State
    97 12 DR. Ahmad Mattar (above) Parliamentary Secretary (Education), hat been appointed Minister of State (Social Affairs). A statement from the Prime Minister's Office said Dr. Mattar will also act; as Minister for Social Aflhirs. He will continue as chairman of the Industrial Training Board, Adult Education
    97 words
  • Article
    'Replace old ways with new'
    122 12 MR. Tang See Chim, MP for Chua Chu Kang, urged the transport industry to replace traditional methods of business management with new scientific ones. Mr. Tang, who Is deputy speaker of Parliament, stressed that only In this way can the Industry continue to play an
    122 words
  • Article
    LONDON STOCKS
    778 12 LONDON, Tues. The stock market closed lower today after a quiet session, dealers said. At 3 pm the Financial Times Index was down 2.3 at 483.3. Government bonds fell unevenly with long dated stock marked low in line with the easier trend among shorts to record losses of
    778 words
  • Article
    Where there is no dearth of property buyers...
    260 12 DESPITE the sluggish property market, developers of apartments and houses In the Orchard Road area expect good response from buyers and tenants. The main reason Is the locality. Houses built in this area are Just a stone's throw from offices, attractive shops
    260 words
  • Article
    Work on extension to Liat Towers soon
    141 12 CONSTRUCTION work Is expected to begin In two months on a 21-storey extension to Llat Towers at Orchard Road. Tenders for the $15 million project have already been called and work Is to begin In October. The tower block will be completed either
    141 words
  • Article
    Appeal Board raises awards for two
    127 12 THE Collector of Land Revenue was yesterday ordered by the Appeal Board (Land Acquisition) to pay an additional sum of $550,900 with interest to two firms whose properties were acquired by the Government in October 1974 for urban renewal. The board Increased the award
    127 words
  • Article
    Lock icon Renewed interest in copra
    74 12 Reuter MANILA, Tues. Interest revived in the Philippines fob copra market, which has been inactive for a week, with a sellers price of US$29O (Ss7o7) per tonne compared with its last price on Aug 17, of $275, a year's low, traders here said. The market, however,
    Reuter  -  74 words
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