The Business Times, 4 January 1978
1978-01-04
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The Business Times
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Title Section11 1978-01-04 1 BUSINESS TIMES M.C.(P) No. 218/1/78 WEDNESDAY, JANUARY 4, 1978 50 CENTS11 words
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BRIEFLY...
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Article75 1978-01-04 1 FRANKFURT, Tues. The US dollar plunged to a record low of 2.0845 against the marks today, down almost two points from the previous day's fixing. Dealers described market conditions as hectic and saM the West German central bank bought US$6.l5 Billion. Meanwhile gold reached $189.2 at the75 words
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Article70 1978-01-04 1 Reuter NEW DELHI, Tues. India's former Prime Minister, Mrs Indira Gandhi was today expelled from the Congress Party which she led to defeat In general elections last March. The decision to cancel Mrs Gandhi's membership of the party that she had so completely dominated during her 11Reuter - 70 words
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Article43 1978-01-04 1 HONGKONG, Tues. The trade, Industry and customs department announced today that Norway has Introduced temporary Import restrictions from the beginning of this year on Imports of textiles and clothing from Hongkong. Full details of the Norwegian action were not available.43 words
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Article32 1978-01-04 1 MALAYSIA and Vietnam are expected to sign a trade agreement on Thursday, the result of a fourday visit of Vietnam's Foreign Minister Nguyen Day Trinh to the country starting yesterday.32 words
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Article67 1978-01-04 1 Reuter COLOMBO, Tues. Sri Lanka's state-controlled Associated Newspapers today announced It would Issue shares to Its 1,800 employees to mark the 00th anniversary of Its English language newspaper, the Ceylon Dally News. Company chairman Ranpala Bodlnagoda said the move was a major step In the government's nationalReuter - 67 words
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Article48 1978-01-04 1 AFP MELBOURNE, Wed. Australia's drought will c«et an estimated A$ 1,000 million (812.7 billion) this year unless there Is a dramatic and unexpected change In weather conditions. Already dry weather has cost about $400 million m lost Income because of a shrunken dry wheat harvest. AFP.AFP - 48 words
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Article53 1978-01-04 1 AP JERUSALEM, Wed. Prime Minister Menahem Begin said yesterday Israel would stand behind its plan for Palestinian self-rule, rejecting Egypt's demand for self-determination for the Arabs now living under Israeli occupation. "We stand on our proposal and It will be used as the basis for the negotiations,"AP - 53 words
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Article80 1978-01-04 1 UPI NEW YORK, Tues. Stocks headed sharply lower early today In reaction to the dollar's plunge to record lows on foreign exchanges. Trading was moderately active. The Dow Jones Industrial average, which gained 0.78 point on Friday, was off 6.08 points to 824.11 shortly before the first hourUPI - 80 words
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Chief Price Changes
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Article121 1978-01-04 1 Foils Most active Mill SMC Magnum Corpn St Staamehip Paper Products Public Bank 210 302 238 112 239 -80 -18 -12 -7 -6 Haw Par 378.000 Sigma Metal 137,000 Supreme Corp 102,000 Haw Par (London) 100.000 Leone Huat 110 -8 TofaJ Turnover: 2.07 M few 101 295121 words
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Article, Illustration151 1978-01-04 1 Rites Most active Tronoh 3.80 Supreme Corp 1.99 O.C.B.C. 8.20 Ounlop Bet 2.83 Utd Plant 2.22 CandC 2.M Aicom 1.76 .30 +.19 +.10 .09 +.07 +.04 +.03 Supreme Corp 794,000 Olympla 123,000 Bandar Raya 116.000 KL Kepong 102,000 Total Turnover: 2.23M Total Value. M84.58M Falls Indices P.151 words
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344 1978-01-04 1 PETER CHIA - •y PETER CHIA SINGAPORE Time, the local Seiko watches, is Investing $4 million in a new plant to cope with Increasing orders from Its parent company in Japan. The company said local production last year exceeded one million watches, all of which344 words
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Article490 1978-01-04 1 SOH TIANG KENG - HIGHER COST OF FUNDS Sy SOH TIANG KENG CITIBANK yesterday pushed up its prime rate from 7 to 7 W per cent the first bank to change its prime since early October last year. But most other banks, local or foreign, will not follow suit. Summing490 words
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732 1978-01-04 1 CHAN BONG SOO - By CHAN BONG SOO THE STOCK Exchange of I Singapore appears quite determined to keep alive its one-year-old share option market which has been languishing for months. The BES yesterday Introduced a new share option scheme which pegs the striking price* at 15 per732 words
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302 1978-01-04 1 CHINA yesterday announced plans to facilitate the reception of returning overseas Chlneee whose affairs will be the subject of a national conference to be held in Peking. A preparatory conference for the scheduled national conference was held recently In the capital. Participants In the preparatory302 words
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Article124 1978-01-04 1 LIBYA and Algeria arc planning to reduce the price of their low-sulphur crude oil by US 20 cents (846 cents) a barrel. The Middle Kajt economic Survey (Mees) oil review sakl the reduction Is being proposed by both countries In current negotiations Various grades of lowsulphur Libyan124 words
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310 1978-01-04 1 RONNIE LIM - RONNIE LIM SINGAPORE Airtines has decided not to go ahead with the proposal 25-sterey atrium hotel at Tomliason Rood/ Ellis Rood, aa Urban Renewal Authority's silo. The sir lino, it is understood. did not toader for the site or for aay310 words
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Article615 1978-01-04 1 COLIN CHEE - ■r COLIN CHEE BETWEEN US$5O million to US$75 million worth of fixed rate US dollar negotiable certificates of deposit were issued in the Asian dollar market yesterday, when they were re-lntroduced after an absence of some seven years. Bankers making the estimate, described as conservative,615 words
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Page 1 Advertisements
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Advertisement31 1978-01-04 1 whatever you need in menswear,get it at... AMmmi MOHAN'S DEPt STORE (PTE) UTX 321, Orchard Road lN *****22 (naxt to Mandarin HoM) ■ranch: 101 langl* Shopping Canto* T* *****40 Oaity r9am-9pm31 words
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Advertisement23 1978-01-04 1 CITROEN CX 2400 PALLAS has proved to be such a cartough efficient elegant pn ~L UJJ jf IJ HEHRV «nC RGEfICIES PTE ITO23 words
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Advertisement21 1978-01-04 1 MALAYSIA'S 1171 hopw MEMOPAD 2. WEATHER. TV 4 COMMODITY DCnKfAITONAL C* Nm SHAU \mtumttttm BKB |tli Uifk wilk UaitH DiHtiff U21 words
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Advertisement201 1978-01-04 1 o M »V\ -•>> The Editor 4C—a robust yet very e/egom machine. The heavy~duty Editor 4C is built for continuous use This is a very tough, fast typewriter that is easy and reliable to operate. It's trouble free. And it doesn't allow errors. You're protected against all the most common201 words
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TRADE AND INDUSTRY
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Article167 1978-01-04 2 COURSES AND TALKS DATES TITLE LOCATION ORGANISER Jan 4-23 Managing Conflict in Industrial Relations SIM Conference Rqom SIM 7, 14 21 The Effective Secretary SIM Conference Room SIM 9-30 9-16 Industrial Application of Operational Amplifiers Managers and Information Systems YMCA Palmer Road NPB Town Training Centre Hotel Royal167 words
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687 1978-01-04 2 SALMA KHALIK - By SALMA KHALIK THE amount of money spent by tourists here could well be much higher than the official figures. Although tourist expenditure of the year 1976, according to the Singapore Tourist Promotion Board's figures, is $701.9 million, the real value of the687 words
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Article126 1978-01-04 2 SINGAPORE will organise a food and cultural festival at the Hyatt Rama Hotel In Bangkok from Jan 12 28. This Is Singapore's first promotion In Thailand and Is in line with the Singapore Tourist Promotion Board's efforts to promote the Republic in Asia. The board126 words
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Article94 1978-01-04 2 INDONESIA announced measures to ease terms on credit given by state-cont-rolled banks, extending the maximum repayment term from five to 10 years, and cutting interest rates by 1.5 per cent. The maximum amount Is raised from 300 million rupiahs to 500 million (5*1.68 t052.8 million), with interest94 words
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Article, Illustration153 1978-01-04 2 THE University of Singapore has promoted three associate professor* to professors. They are Prof. Wong Poi Kwong (left), Dean of the Faculty of Medicine, Prof. Ang Kok Peng (Centre), Dean of the Faculty of Science, and Prof. Tommy Koh Thong Bee, of the Law Faculty. Prof. Wong153 words
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248 1978-01-04 2 FT THE NEW Industrial policy announced by the Janata government has left materially unchanged the terms and conditions of foreign investment in India. The new government has expressed itself as being not averse to the entry of even multi-national corporations and will allow major foreignFT - 248 words
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160 1978-01-04 2 Reuter VIETNAM, plagued with economic problems recently, recorded a string of industrial successes in everything from engineering to soap production. The country, at present locked In a border dispute with Cambodia, has admitted to poor economic performance in the last two years In manyReuter - 160 words
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Article48 1978-01-04 2 AP THE United Arab Emirates exported 760 million barrels of crude oil worth US$9.B5 million (8522.48 billion) last year. A Ministry bf Economy report said Japan was the largest buyer of UAE oil in 19T7, followed by Prance, the United States. England and Italy. AP.AP - 48 words
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211 1978-01-04 2 MITSUI Engineering and Shipbuilding of Japan recently received an order for a huge desalination equipment from Sogex International of England, aa part of the fourth desalll 1 project planned by the Baline Water Conversion Corp of Saudi Arabia for Jeddah. The equipment to211 words
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Article49 1978-01-04 2 Reuter BANK Negara Malaysia is raising a US$4OO million (***** million) eight-year loan at 0.75 per cent above London Interbank offered rates. Chase Manhattan Asia In Hongkong said It has received a mandate from the Malaysian Central Bank to raise a loan. ReuterReuter - 49 words
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249 1978-01-04 2 Reuter AFP AN international Investment conference to promote economic cooperation among Asean, West Asian countries and the industrialised world will be held in Kuala Lumpur on March 0 and 10. The New Business Times and the Development Bank of Malaysia, Joint organisers of theReuter; AFP - 249 words
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Article125 1978-01-04 2 AFP A Philippine-owned corporation has set up a chemical plant for the manufacture of resin for industrial users through a loan syndication amounting to 5 million pesos (Ssl.9 million). The Private Development Corp. of the Philippines (PDCP) which packaged the syndication In a press releaseAFP - 125 words
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Page 2 Advertisements
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Advertisement629 1978-01-04 2 JOIN THE EXCITING WORLD OF JOURNALISM The Straits Times Press (1975) Limited, New Nation Publishing Limited and Times Business Publications Limited have further vacancies for the positions of reporters and sub-editors. If you want to be where the news Is, Join us In the exciting world of Journalism. Here Is629 words
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OVERSEAS
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587 1978-01-04 3 AP UPI MACHINISTS in southern California voted on Monday to accept a contract with Lockheed, ending an 84-day strike that involved as many as 43,000 workers at one point. "It's been the most effective and most successful strike ever in the aerospace industry," said theAP; UPI - 587 words
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Article333 1978-01-04 3 Reuter EARNINGS of the major International oil companies in the new year appear vulnerable because of surplus in the industry. UK stockbrokers in London, Vickers, Da Costa says in its review that the rise in aggregate profits of the eight major companies should slow toReuter - 333 words
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Article259 1978-01-04 3 AFP THE BRAZILIAN govern-ment-owned firm, Interbras. said on Monday that the New York Times had Indulged In an "exercise of fiction" In publishing an article last Friday about a supposed conspiracy by Interbras to boost world coffee prices. The article accused the Brazilian firm of manipulatingAFP - 259 words
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Article113 1978-01-04 3 UPI THE Irish government has abolished private property tax in fulfilling a campaign promise by Prime Minister Jack Lynch. But it still has not decided how to replace the lost revenue. Householders, after the first flush of enthusiasm, have begun to wonder if the savingsUPI - 113 words
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WORLD IN BRIEF
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Article533 1978-01-04 3 Agencies HONGKONG and Asia's first international silver market did not open yesterday as expected. A spokesman for the Chinese Gold and Silver Exchange, organiser of the silver market, said opening yesterday would have entailed too much rush. Trading would start within two months, he added.Agencies - 533 words
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388 1978-01-04 3 NYT FACING a number of uncertainties, US purchasiag •genu ended the year with a cautious assessment of fbture growth and a wary qwaitlM government. A December aurvey conducted by the Natioaal Aaaociatioa at Purchasing Managers, released ia New York on Monday aWwsd that M par cantNYT - 388 words
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Article648 1978-01-04 3 CONCERN OVER MILLER'S ABILITY NYT AFTER assessing President Carter's decision to name William Miller as the new Chairman of the Federal Reserve Board. Wall Street's credit market economists are pretty gloomy about the outlook for interest rates and fixedIncome security prices. Bond yields already atNYT - 648 words
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Article215 1978-01-04 3 AP SAUDI Arabia will resist any request from President Carter for a special oil pact to Insure the United States a steady supply of petroleum at stable prices. A Saudi official has said. "Our Oil Minister, Sheik Ahmed Zakl Yamanl, has affirmed that the kingdom willAP - 215 words
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Page 3 Advertisements
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Advertisement197 1978-01-04 3 How well doyou know your Australian Birds? The Qantastic t)nestoptoLondon'bii-d Every Tuesday, Thursday, Saturday -it t r. r* 1"' I off Ml v Ck_ > .<rS K 'V -4 t Qantas introduces a very special bird to Singapore. The Qantastic 'One Stop to 0:J London' bird. Taking off three times197 words
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RAW MATERIALS
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Article281 1978-01-04 4 OPENING quotations on the Singapore rubber market yesterday were marked down 0.75 cent fol- lowing slightly lower London advices but later recovered on good demand of January One RBB from Singapore and Malaysia. Towards the morning close, however, prices fell back on profit-taking, dealers sakf281 words
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Article27 1978-01-04 4 Rubber: Jan 3: Singapore: January 196.00 cent* (unchanged) Malaysia: 199.60 cents (op 0.50 cent) Tins: $1,680 (down $5) Official offering: 253 tonnes (down 17 tonnes)27 words
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Article279 1978-01-04 4 Prices tn cents per kilo Jt •tarday: Noon (par Ulo) Close (par kilo) bit. 1 HAS. pnaipt(.o.b. Int. 1 R.8.S. January Int. 1 R.8.8 February ait. 2 R.8.8 OK/Oont. Int. J R.8.8. UK/Con t Int. 4 R.8.8 UK/Oont. Int. 5 R.8.8. UK/Cont. Buyers 108.00 urwN Buyers 198.90 188.08N279 words
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Article94 1978-01-04 4 NOON 88R and 8UR price yesterdays RAft Jam ICme *rr it Mtfc) 1 (F. Mnur rwiWMU^ 38R20 iMIVtO Buy* E mupmkg) (1 ton pallet) 1*0.00 laa.ooN 191.00 103.00N SSRSO (1 ton pallet) 180.00 190.00N 100.00 191.00N SMRSCV (1 ton pallet) Ftofeewy 206 25 210.25N Murk 200.25 211.25N94 words
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Article205 1978-01-04 4 EXPORTS of sheet and crepe rubber from Singapore and West Malaysia rose to 170,923 tonnes In August last year from 147,821 tonnes in July of the same year and 144,080 tonnes In August the previous year. These figures were revealed by the Statistics Department. Of the August205 words
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Article205 1978-01-04 4 BANGKOK rice prices were quoted yesterday as follows: (Prices In US dollars per tonne fob basts Bangkok): Whit* Ri» 100 pet lit class 360. 100 pet 2nd class 345.100 pet 3rd class 340. 5 pet 331, 10 pet 315, 15 pet 312. 30 pet 309 25 pet 308. 33205 words
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Article254 1978-01-04 4 TRADING was practically at a standstill at the Slngaproduce market yesThe lethargic mood that settled in the market over the past two weeks due to the holiday season has yet to be shrugged off and, consequently, no sales were made. The major overseas markets for all the commodities254 words
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Article128 1978-01-04 4 COFFEE futures opened quiet £14 lower to unchanged compared with Friday's close, In London yesterday. Turnover was 70 lots. Dealers said strength of sterling and the absence of fresh origin news during the new year holiday made for a quiet and hesitant start. They also said that Monday's announcement128 words
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Article70 1978-01-04 4 TERMINAL sugar In London yesterday lost £1.05 to £0.60 per tonne at the opening call mainly on strength of sterling. Dealers said ratification of last year's International Sugar Agreement appeared to have little basic effect. The London dally price for raw sugar was unchanged at £107 per tonne but70 words
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Article86 1978-01-04 4 STRENGTH of sterling brought first call falls to terminal cocoa of £4 to £18.50 per tonne In London yesterday. But dealers said good buying support from one trade house in a basically thin market allied to reserve of sellers helped maintain a steady undertone. Otherwise, the market lacked fesh86 words
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Article119 1978-01-04 4 COPPER showed losses of £27 for cash and £1.50 for Three Months wlrebars, in London yesterday. Dealers said easier conditions at the outset of the pre-market reflected sterling's strength against the US dollar and the larger than expected increase of 3,050 tonnes to 641,175, in LME stocks last week.119 words
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Article48 1978-01-04 4 SILVER finished the morning 0.5 to 0.1 pence higher in London yesterday. Values declined at the beginning of the premarket reflecting strength of sterling against the U8 dollar dealers said. But, with gold sharply higher, covering rallied prices with the bullion dealers' fix also a supporting influence.48 words
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Article59 1978-01-04 4 LEAD ended the morning £2 Gr tonne up all round, In ndon yesterday. Trade sources said prices fell back during the premarket in line with copper and on strength of sterling. However, values rallied on the ring with some support still drawn from reports late last week of Soviet59 words
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Article152 1978-01-04 4 THE STRAITS tin price in Penang yesterday eased Ms 3 to t1.680 per picul, on a official offering down 17 tonnes to 2S& tonnes. The continued weak sentiment was due to the high volume of tin concentrates accumulated by miners during the long weekend closure, dealers said. Conditions152 words
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Article197 1978-01-04 4 THE SINGAPORE gold market reopened yesterday after a long weekend on a quiet but steady tone. The Kilobar opened at 5512.535 and rose steadily throughout the day to close at itshlgh of 5512.583. Trading was fairly active. The loco London market opened at U*****.40/70 and soon short-covering and fresh197 words
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Article50 1978-01-04 4 ZINC at end-morning In London yesterday was unchanged for cash and £0.50 down for Three Months. Dealers said It was a quiet market with prices holding steady on light tradecovering interest at around the £289 per tonne level. Ring sales were 1.525 tonnes, about half of which were carries.50 words
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Article, Illustration1056 1978-01-04 4 NYT SOUTHERN Florida has Just about given up on its stately coconut palms, which are dying by the thousands from an Incurable tree disease known as lethal yellowing. An effort to save the coconuts with injections of antibiotics has been practically abandoned. Instead, the authoritiesNYT - 1,056 words
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Article416 1978-01-04 4 THE LACK of any overseas market Indication because of the new year holiday led to sugar futures closing easier In dull and featureless trading yesterday. May and October were the only Months traded and they lost 0.01 and O.IS US cents, respectively. Turnover dropped to nine lots from416 words
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Article143 1978-01-04 4 THE SOUTH East Asian region could develop Into a two million tonne annual market for soyabeans In the near future. A spokesman for a forthcoming soyabean conference to be held here made this statement. Olenn Wood, coordinator for the International Soy Protein Food Conference, sponsored by143 words
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111 1978-01-04 4 INDIA'S total food-grain harvest In 1977/78 Is projected at between 118 million and 121 million tonnes, as much aa 8 per cent more than 1978/T7's 111.8 million tonne harvest and nearly equal the record 121 million tonne crop produced In 1879/78.111 words
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MONEY AND EXCHANGE$
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Article561 1978-01-04 4 IN AN otherwise quiet trading day, the Deutschemark and sterling posted significant gains against the US dollar on the forex market yesterday. The Singapore dollar also gained against the US unit early In the day but lost some of the gains in the afternoon. Deutschemark opened at 2.1000/50561 words
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Article53 1978-01-04 4 A CSC AlpwM Buk 7 Bu|k*kBuk 7 Ba»fc ml A— l> 7 BwkrfCUu 7 Bank rfTtkjn 7 Baak Item IliMM 7 Citibuk 7U H8BC 7 Uiimi 7 Malayan 7 MMaai Bask 7 OCBC »S OVI 7 Chartered Bamk 7 UCB 7 CImm Manhattan 7 DBS 7 L'MBC53 words
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Article43 1978-01-04 4 FRANKFURT exchanges opening quotes on Jan 3: US t 101*40 (Z-IMfM) GUI 1 *140*0 arro««vo» D rt R 40/ M rr 166 90/7S Lit 2 401/41J r rr «4 7vi6 N Kr 41.66/15 B rr (conf (16/46 B rtton) %.nm Yen t.rmm43 words
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Article311 1978-01-04 4 STERLING opened around 70 basis points higher against the dollar while the Swiss franc moved to a new high in moderate opening trading yesterday. The French franc also moved sharply higher against the US unit as business returned to more normal levels following the seasonally quiet holiday period, dealers311 words
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Article168 1978-01-04 4 THE US dollar fluctuated in thin nervous trading yesterday against the mark to remain Tittle changed from Its 2.0975 mark Friday New York closing mid-point equivalent. On European buying, the US unit recovered to 2.1040/50 marks from its morning low of 2.0920/70 but fell again to 2.0975/90 in fairly168 words
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Article141 1978-01-04 4 Asian rates ASIAN currency rmtea u at close c deposit m Jan 3. interbank US Dollar* (Spat) 7 days 1 mth 2 mths 3 mths (mths mths 12 mth* Offer 13/16 .7 .71/» .71/4 .76/16 .7 n/ie .71/4 9w. rn. IbIMI Bid 611/16 67/6 7 71/t 77/16 7 S/16 7H141 words
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Article80 1978-01-04 4 Euro rates Eurodollar depoetu opcntnc quotes on Jm 1 OemlfJK t H 1 VI Wed/niun I l/« l VI Thar*/ rn it J/16, it i/it Call two da/s, mrtn Ov ft* and NoUee 11/16. 4 11/16 One mth seven, 7/1 Two attu 7 11. mn Thrw mth* 7 1/4, 780 words
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Article44 1978-01-04 4 RANGE of pries* offer* bouM on J»a 9:. d by dlao Oremifht Call drpoMt 3* _Ch 3-Month TMWI) Mil 31/4 f Wh| 31/» J-Month Bulk IMUl 4 11/lt 411/11 3-Month CD 33/1 51/4 6-Month CD 9 7/* IV( Source: National Discount Co Ltd44 words
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Page 4 Advertisements
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Advertisement387 1978-01-04 4 from Penguin BELLOW 1976 Nobel Prize Winner I- q; :eii 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 and387 words
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TRANSPORT
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Article, Illustration859 1978-01-04 5 NYT THE rapid expansion of Russian merchant shipping, not only In Europe but also worldwide, has emerged as a serious problem facing the merchant fleets of the West. Johannes Jacobson, who owns a small dry goods store at Wallhaven, one of the older harbours inNYT - 859 words
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Article107 1978-01-04 5 Reuter TOKYO air services and road traffic were disrupted yesterday by the season's first snowfall reaching a depth of 21 cm. Tokyo airport officials said eight Incoming international flights had been diverted to Osaka, western Japan, and Nagoya, central Japan while departures have been postponed. AllReuter - 107 words
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Article954 1978-01-04 5 WIDE-RANGING rates are the order of the day with some shippers receiving very low offers while others are paying 25 per cent more for shipments of similar products to the same or nearby ports. On the sale and purchase market, however, there are many bargains If one954 words
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Article, Illustration298 1978-01-04 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Barge Brightgold No. 1 (1500) 5 Olso Maru No. 19 (JKLB) (0600) 25/26 Golden Haven (0600) 35/36 Jlnyo Maru (Car Carrier) (JEDE) (1030 44 Krlti Diamond (0900) (maiden voyage) (Draft 9.45 m) 6/7 Melkl (HPBP) (2200) 42/43 Nedlloyd Amsterdam (1500 after Sonderhausen) Palm298 words
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264 1978-01-04 5 RAHIM KASSIM - •y RAHIM KASSIM SHIPPERS In this region must increase their knowledge and skills of the shipping industry for effective participation in international liner shipping. Otherwise, they would be handicapped In dealing with shipowners and conferences. Better knowledge of shipping operations and economics264 words
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286 1978-01-04 5 BARRING a substantial Improvement in the present depressed freight market. 60 Norwegian shipping companies, owning about one-third of Norway's shipping tonnage, will be in serious financial difficulties by 1979. By then, these 60 owners' commitments will exceed income by 2.2 billion kroner (***** million)286 words
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Article294 1978-01-04 5 WHILE the rest of the world squabbles over market shares, cutbacks and under-the-counter subsidies, America's shipyards continue unperturbed to work their way through an order book second onlytoJap&n's. Last November they had 61 merchant ships on order, totalling 3.9 million tons grt and worth294 words
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Article641 1978-01-04 5 ARRIVALS OwTIC* OparmUr Note Loea Ite J frmi TMA MAS OIA TL304B MH682 OA 980 0530 0810 1030 TPE KCH HLP CPA THAI SIA CX710 TQ423 3Q209 103S 1035 1045 HLP BKK HLP THAI OIA OIA TOMl OA 944 OA 908 1045 1055 1100 BKK PKU ME8641 words
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Page 5 Advertisements
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Advertisement340 1978-01-04 5 f I cikiTAT J 1 Iri m a onward reservations CZLLm Rent-a-Car f StNC.APORf- AIRPORT V> TEL *****?> "m TV r '">■ CITY TEL from Penguin I IN PENGUINS Lifi Yukio Mishima firmly upheld the traditions of Japan's imperial past, which he believed were being slowly eroded by Western materialism.340 words
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Article687 1978-01-04 6 OUR SYMPATHIES go to the Consumers' Association of Singapore (Case), the consumers' watchdog which Singaporeans apparently expect to have as many heads as Cerberus, to watch the backdoor, frontdoor and side-gate as well, not to mention bark, bite and perform Interesting circus tricks. In other687 words
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Article, Illustration1954 1978-01-04 6 MANO SABNANI - ■y MANO SABNANI "THERE IS a time to strike and a time to Ue low," says j controversial entrepreneur Jack Chla when queried on the sudden spate of takeovers recently announced by the Jack Chla group. "In the past three years the groupPhoto by; BT Chart - 1,954 words
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Page 6 Advertisements
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Advertisement684 1978-01-04 6 r w n 585 Orchard Road, S'pore Tel: *****2 406/407 Havelock Road, S'pore 3. Tel: *****1 Sze Chuan Room A TREAT OF SZE CHUAN FOOD AT THE SZE CHUAN ROOM Is a heavenly delight prepared with care In the meticulous tradition of Sze Chuan Cuisine. You'll relish the fare at684 words
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Page 6 Miscellaneous
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Miscellaneous61 1978-01-04 6 WEATHER outlook for Singapore from 6 a.m. to noon today. No ratn expected. WEATHER report for 24 hour* prior to 7.30 pm on Jan 3 at the airport. Maximum Temperature 30.6° C Associated Humidity Minimum Temperature 23.4° C Associated Humidity Hours of Sunshine 10.50 Rainfall in Millimetres nil Total Rainfall61 words
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Miscellaneous238 1978-01-04 6 RADIO SINGAPORE 5 3.00 PM Opening announcements followed by Keystone Comedy Capers 3.25 Diary of Events (Malay) 3.30 No Place To Go (Repeat) 3.55 Stars In Action The House That Jackson Built 4.25 Intermission 6.05 Opening announcements followed by Electric Company 6.30 News in Brief 6.35 Last Of The Wild238 words
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524 1978-01-04 7 KSR THE EDITOR of Business Times Is not the easiest man to get along with. He tends to make sweeping changes every story before It gets However, he has relaxed his iron-control of the paper to the extent that a few favoured lnvldlduals including myselfKSR - 524 words
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Article829 1978-01-04 7 WILL SINGAPORE'S restaurant chefs particularly in the Chinese restaurants please stop shovelling what must be whole packets of monoso-dlum-glutamate (most commonly known locally by Its producers' brandnames, such as AJlnomoto and Ve-Tsln) into their dishes? Surely a good cook can produce the right flavour without the829 words
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Article, Illustration146 1978-01-04 7 PATRONS OF THE "wt-u-much-u-you-please" Indian food shopa in the Kerbau area must brace themselves for a little New Year shock. Two of these shops Krishna Vilas and Ananda Bhavan, lituated next door to each other, along Selegie Road have agreed to raise the price146 words
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Article, Illustration1566 1978-01-04 7 OUR REPORTER - OPTIMISM NOT HIGH THIS YEAR ■y OUR REPORTER i DESPITE SLUOOIBH conditions in the world economy, the Malaysian economy breesed through I with a creditable growth i rate of 8 per cent last year, i But for this year, optli mlsm is not runningBY FID - 1,566 words
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Page 7 Advertisements
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Advertisement387 1978-01-04 7 mcifico ac« SINGAPORe Tanglin Circus, S'pore 10. Tel: *****1 Brasserie La Rotonde Speciality de Cafe Expect the unexpected! Daily specials that are as fresh as a new day Today's special could be meat. Or seafood! Even hors d'oeuvres. But whatever it is, it's fresh. And prepared as only our chefs387 words
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Page 7 Miscellaneous
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Miscellaneous17 1978-01-04 7 Bristow :F^a^i<D:akeAS rr OH HOUDfWONe COLLEaGOeS SSMS **>ON thc. ccweTeo TITLE, OF •miss I fiLA- TQGe-rneg IA17 words
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INTERNATIONAL STOCK MARKETS
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Article, Illustration1902 1978-01-04 8 SUSAN BEVAN - Commodity shares stole the limelight on the Kuala Lumpur Stock Exchange last year while other stocks saw mixed fortunes. SUSAN BE VAN gives the reasons behind this trend and takes a look at what is in store for 1978. SUSAN BEVAN 1977 MARKED a dramatic turning1,902 words
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Article470 1978-01-04 8 HONGKONG: Shares yesterday fell sharply on heavy across the board selling by UK and local investors, dealers said. The Hang Sen* index dropped 10 28 to 393.74. Its lowest level since November. 1970 and the largest single day tall since the 21 points registered In September that year following470 words
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Article406 1978-01-04 8 BYDNBY: The market closed firmer yesterday with leading industrial, mining and oil stocks attracting general support and some profit taking evident, dealers said. The Sydney All-ordinaries rose 2.33 points to 4*7t.43. BHP fell two cents to <9 T>. while banks rose with the Wales gaining 10 to 5.M and406 words
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Article144 1978-01-04 8 MANILA: The market closed lower yesterday with all sectors down, dealers said. Turnover fell to 4.89 million pesos from Thursday's 5.M million. AUas and Phi In lost five and two points respectively while other mining issues decreased slightly. Oriental lost two points and other oil Issues eased In commercial144 words
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Article136 1978-01-04 8 JAM «t Bahts Asia Fibre 272 ♦7 Bangkok Bank 397 *10 Bangkok Invest. Me *18 Bangkok-Metro-politan Bank Bata 755 20 BerliJucker 528 +8 Charoong Thai Wire 320 *8 Dumex DiisltThani 312 -4 F iber Merlin First Trust 339 ♦2 Genera Finance Indo-That Industrial Finance Corp 2175 *40 i And136 words
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Article178 1978-01-04 8 AMSTERDAM. Share prices were generally rtrmer In very quiet trading on Monday. dealers said. Akzo. almost one guilder higher, led Dutch Internationals firmer Other firm shares were K.VSM. Heineken and Bola. Lower issues included Pakhoed and ABV. State loans were higher. Reuter. JAN Hi Ahold A kao Alfbank AMEV178 words
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Article131 1978-01-04 8 BRUSSELS: Belgian share prices were mixed In my quiet holiday trading on Monday, bourse sources said Among share* to rte were EWetrvtol, Bbee. Uaeeg, CBR and AiM, while lnen. TrieItaa. Hsfcihia. Safety. St Rack and CMMtra all kmt ground. MM m Fn roam AtD MAOTT AMt m uncti ArM131 words
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Article266 1978-01-04 8 FRANKFURT: Share prices firmed after a nervous start to the year with the relatively good performance of the dollar and the firmer tone of the bond market providing encouragement for major domestic Investors. market sources said on Monday The bond market was active with public authority prices gaining up266 words
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Article106 1978-01-04 8 MILAN: The market closed irregularly lower in very slow trading on Monday. Pirelli and Plat preference lost ground among leaders JAN Lire Ante 113 26 ♦6.75 Assoc On 3000 1336 Bulcfl M ♦3 OmttBlc 347S -30 ri«t 1M1 -11 rinatdtr H Hi Ocnlmmob 76 ♦41 mm am IlilccBMOU 98S0106 words
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Page 8 Advertisements
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Advertisement184 1978-01-04 8 There are now 173,709 households on our circulation list .N r* s? ig Straits Times latest circulation now stands at 1 73.709 —an amazing increase of 10.000 copies over 12 months The Straits Times latest circulation now stands at 173.709 copies per issue. That's an increase of nearly 10.000 copies184 words
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INTERNATIONAL COMPANY NEWS
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Article378 1978-01-04 9 EUROPEAN COMPANIES FT AMSTERDAM: On the basis of the results in the first three quarters of this year and on the assumption that the improvement of accident Insurance business will continue, Ennia, the Dutch insurer, expects the 1977 profit per snare to rise by "atFT - 378 words
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Article192 1978-01-04 9 FT PARIS: Jacques Borel International, which is currently raising 70 million francs by a public Issue on the Paris bourse In order to finance a major reorganisation, forecasts group losses this year totalling more than 90 million francs. The financially troubled hotel and restaurantFT - 192 words
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172 1978-01-04 9 ASIAN COMPANIES Reuter MELBOURNE: Kalgoorlie Southern Oold Mines said that If It Is unable to complete a farm-out of Its leases by March 31, It will seek the appointment of a liquidator. Shares In the company, In which Western Mining Corp has an effective stakeReuter - 172 words
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Article112 1978-01-04 9 Reuter SYDNEY: Spokesmen for CSR here and Conzlnc Rlotinto of Australia (CRA) In Melbourne confirmed that CRA has retained its long standing 12.65 per cent stake In AAR's 25.85 million Asl par issued shares and did not accept CSR's recent offer for AAR shares. The CSR spokesmanReuter - 112 words
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184 1978-01-04 9 FT PARIS: Produits Chlmlques Ugine Kuhlmann, the company that dominates the chemicals division of the major French industrial group Pechiney Ugine Kuhlmann (PUK), predicts net losses this year totalling toetween 100 million and 150 million francs. No comparison figures are available for 1976. In that yearFT - 184 words
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Article76 1978-01-04 9 HONOKONO: China Engineers (Holdings) said It has arranged a 10-year HK$5B million loan through Hill I Samuel Pacific to finance the development of a 12storey industrial property in Kwun Tong. The loan incorporates both fixed and floating rate loans which have been provided by Hill Samuel76 words
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1456 1978-01-04 9 TAKEOVER activity in Australia is currently at a high pitch again, but this time there is a difference. There has been a spate of takeovers which, while legally correct, have clearly been to the disadvantage of, and discriminated against some usually the small individualFT - 1,456 words
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Article221 1978-01-04 9 LONDON: A £13.6 million downturn In final quarter Ex) fits to £28 million has ft taxable profit of Lonrho £5 million lower at £88 million for the year ended Sept 30. 1977. The result Is after a £9 million rise In the group's interest bill to221 words
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123 1978-01-04 9 Reuter KENILWORTH: Volkswagen, the West Oerman car maker, has agreed to. replace antl-pollutlon devices on about 31,000 cars In the state of California at a cost of up to US$3 million, the State Air Resources Board said. The agreement Involves catalytic converters, designedReuter - 123 words
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130 1978-01-04 9 Reuter LONDON: Sir Charles Curran, former direc-tor-general of the British Broadcasting Corporation, is taking over as managing director of Visnews, the world's largest television news agency. He succeeds Mr Ronnie Waldman, whose retirement from the post after 15 years was announced last month. SirReuter - 130 words
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Article304 1978-01-04 9 NORTH AMERICAN COMPANIES Washington Star THE Federal Reserve Board has rejected pleas from the brokerage and thrift industries that It stop a subsidiary of New York's giant Citicorp from Issuing smalldenomination notes with an escalating Interest rate. However, the Fed said It plans to requestWashington Star - 304 words
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Article88 1978-01-04 9 Reuter THE National Grain and Feed Association said the association has appointed an elevator and explosion and fire management team. The team will assess what Is kndwn about the causes of grain elevator fires and explosions, determine what additional information is needed and how it should beReuter - 88 words
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Page 9 Advertisements
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Advertisement187 1978-01-04 9 The daily double Every business day, Singapore's two vital every part of the world relevant to Singa- course become history and economic newspapers, The Straits Times and Busi- pore business, you need Business Times. trends that will become economic facts. ness Times, bring a wealth of information Business Times keeps187 words
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Article2110 1978-01-04 10 lira Hick Urn C»WMi' Last Sale ♦erGr*> Dtr Dh CSr Qr'i P/E Y'ti Vel Day cm) High Lew SECTION ONE INDUSTRIALS 154 204 HI 246 88* 205 160 200 422 146 134 165 58 212 57* 155 149 182 350 91 Ac ma Alcorn Allied Choc Bate2,110 words
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245 1978-01-04 10 JAMES Cowan Associates' »ctlvltles on the Btock Exchange of Singapore In the last three y«rt reveals that the year 1977 proved to be the least volatile and therefore, leas exciting for the Investors. In Us latest issue of "Forecast," JCA noted that throughout245 words
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89 1978-01-04 10 Reuter KUALA LUMPUR, Tuea. United Malayan Flour miiu Bhd said It decided to postpone Indefinitely a proposed one-for two rights Issue. The issue, announced in June l»7e, would have raised the issued share capital of the company to MSP million from $8 million. AReuter - 89 words
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Article1012 1978-01-04 10 BID and offer price* officially hated and buaineaa in and reported to the Stock Exchange <* Singapore yesterday with the number of ahares traded shown in brackets ill iota of 1,000 units unices otherwise specified. All time Settlement Cootrtcti ®re W w "Sett". B'f Board deals (in1,012 words
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Article1038 1978-01-04 10 BID ami aAr prion aOcUUy lUlad mmd Milmn la aatf np«M M tha b«U Stock ynfJay wfefc rf Mm Mii< •W»b M fcraakaM M lata af IJN aaito aalaaa atkarwiaa apacifM. INOWITKJAU (1-MB) (1) IST. 'I'Wtoli (114B). (LMB LTB) I.T*. A. CM* (1.1 M) 1.11 A.H.B. (01,038 words
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Article138 1978-01-04 10 STRIKING pritM of the •tock optioas officially listed oa the Stock Exchance of Siacum, the period*, bid and offer prices and bulla an doaa rooter day, with the Busbar of optioaa traded ahowa fa bracket*. C stance (March 81.70) (O.MB 0 368). C aad C (March 82.20) (0138 words
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Article104 1978-01-04 10 SDIQAPOBS UNIT TBUVT priM The Commerce i.n tag TheSartn«r>ind Ijg 114 SSISMf #M D □KOMI MAI •ICOMI BOND UNIT unmmmuruND Ola TZzZ.r"' fc M 4| 8'pore InvHt rund i.£ liS ASIA UNIT TRUST m 1 i £27zr~*\ir\M JJalProt Fund 0 92 0*7 Security Fund ON on Ber*r» Fund104 words
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Article65 1978-01-04 10 (280.000) (100.408 J?-SPL ?2 100 48 < 2 > (2) 100.45 (J) 100.82 8 1/4% 18/10/79 (250,000) <"£*®L 22 101-06 (2) 101.10 WW) (280,000) (90.288 ?1(Sl80B) I/,,/M (MOOOO > feiUiiKSffi (250 000 > RilTlmv (24oooo) fob 088 (290 000 > (M.988 7 1/4* 18/4/88 (280.000) (100.40B) 18/10/88 280,000)65 words
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Page 10 Advertisements
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Advertisement52 1978-01-04 10 COLLECTINQ Oriental Antiomej by Judith Moorhouse and Dries Blitz 1 cy Hamlyn Group, London. £SSK£S?i£ hiwever SJ Ko «>n<«or- Thla myth U I B2«^^S»3SSS poroetairi. Jade £2£&Sg sra MMS 5. 5 i 2°?.2 b r- and www uiuttr nTAI H* O m Now on side at all good bookshops. $W52 words
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Article, Illustration569 1978-01-04 11 SINGAPORE TRADING m the Stock Exchance of Singapore started the year on t barely »te«dy mU y««t«rda ywlth There waa wMwptud fa». tereet law the board during the early eeesion and ■ama counter* that had long been noglaetad war* tough t after. However, aat enough569 words
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Article375 1978-01-04 11 THE Kuala Lumpur stock market yesterday greeted 1978 on a rather cautious note as prices closed mixed to fairly steady In selective trading. In shaip contrast to last Friday's fast minute burst of exuberance, yesterday's trading was rather subdued and mild. Nevertheless, opening quotations375 words
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COMPANY NEWS
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Article, Illustration460 1978-01-04 11 STEVEN TAN - HOPE FOR RELISTING »y STEVEN TAN in K. Lumpur PROSPECTS for a relisting of controversial Pahang Consolidated on both the stock exchanges of Singapore and Kuala Lumpur appear to have been enhanced In the new year with the reorganisation of the company's top management at460 words
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711 1978-01-04 11 MANO SABNANI - »y MANO SABNANI SIM LIM Investments continues to sing the same sad song with Its latest revelation of a consolidated pretax loss of $831,000 for the six months ended Sept 30, 1977. This result is not, however, strictly comparable with the711 words
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Article110 1978-01-04 11 IN A MINOR streamlining operation further downstream at the Slme Darby Group, newly-acquired subsidiary Kempas (Malaya) has announced that It has taken a controlling stake In associate Talplng Consolidated. Kempas which previously held a 49.93 per cent Interest or 998,881 shares In Talplng needed only110 words
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Article39 1978-01-04 11 The following company meetings are due: Talk* Plantation Ma Bhd.: Jan 7 at 6, Tambun Road. Ipoh at 10.30 a m: Bata Kawaa BM: Jan 7 at It its registered office 8 Jalan Tanbun, Ipoh at 11a.m.39 words
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Article, Illustration146 1978-01-04 11 THE Great Eastern Life Assurance wishes to announce the appointment of Mr. Shaw Vm Meng (above) as a director of the company. Mr. Robert T.C. Chua has been elected president of Refrigeration and AlrConditioning Contractors' Association for 1977/1978. Mr. Chua is with A.C.E. (Singapore) Pte Ltd. The146 words
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LATEST RESULTS
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Article75 1978-01-04 11 Company pre- tax profit $887,000 (1577,616) for the first six months ended Oct 31, 1977. Output of tin concentrates 2,698 piculs (2,508) and an interim dividend of 15 cents per share (7 Vfc cents). Ayer Hitam Planting: Company pre-tax profit $211,706 ($243,655) for the first six75 words
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Article329 1978-01-04 11 THE Stock Exchange of Singapore Is taking united Holdings to task for failure to give a reply to queries relating to Its unsuccessful investments in three timber-based companies. In a third reminder sent last week, the exchange set tomorrow as the deadline for the company to329 words
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Article349 1978-01-04 11 Cmsi b Date i! rstalfce thenar ItesJjhr Metal Box S'pore 8'pore Land Petaltaf Tin T. Harbour Selangor Dredging Boustead Kuala Lumpur Chem Ind(rE) Cold Storage Hldgs FltN Kllllnghall Jack Chla-MPH Kullm Duff Dev Batu Kawan Chin Teck S M Industrie* Berjuntal Tin Lower Perak Tin Utd Mcca Rubber349 words
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Page 11 Advertisements
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Advertisement361 1978-01-04 11 FROM FEDERAL PUBLICATIONS (f 11# #1 i L >V In m m i«> ,%i ii m mil w Ii ran: Iffl Cm xK V .V«'. ii. Ri~ A We l 3**** h!i. 111 a step-by-step guide An easy to understand vet fully rewardinq book on flower arrangement Floral Creations, with361 words
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Page 11 Miscellaneous
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Miscellaneous606 1978-01-04 11 THE TWO-IN-ONE CROSSWORD i n2 7 18 3 124 30 L3l CRYPTIC PUZZLE ACROSS 1 Pane to the neck! (4) 22 Are backward in history (3) 4 Qem to mark with a soft a Elsa MartlnelU's uncle (3) pencil (6) 2( Hand over a bomb to a wages -8 Recently606 words
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Article387 1978-01-04 12 NYT STfeEL imports, the target of a trigger-price system that the US Treasury Department said It would outline yesterday, began slowing down towards the e**d of the year, particularly from European producers. Apparently in anticipation of the triggerprice mechanism designed to prevent Importers from dumpingNYT - 387 words
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213 1978-01-04 12 Reuter JAPAN'S foreign aid commitments last year Increased by 62.6 per cent over the previous year to a record high of 380.7 billion yen (853,695.4 million). The Foreign Ministry said yesterday In Tokyo the sharp Increase resulted from the government's stepped up efforts toReuter - 213 words
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Article, Illustration695 1978-01-04 12 Reuter UPI AMERICAN Special Trade Representative Robert Strauss is likely to visit Japan this month for talks with Prime Minister Takeo Fukuda, the Japanese Foreign Ministry said In Tokyo. However, Kensuke Yanagiva, the director of the Ministry's Information Bureau, commenting on a reportReuter; UPI - 695 words
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Article297 1978-01-04 12 UPI DETENTE and the overall growth of US foreign trade failed to boost commerce with communist countries last year., The United States is the fourth largest Nato trader with communist countries. But since 1973. Trade with those countries has never exceeded 2.2 per cent of ItsUPI - 297 words
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Article307 1978-01-04 12 AFP THE Hongkong stock market will stay depressed In the first quarter of this year. It may advance slowly in the second half, though, a big local brokerage firm predicts. Last year's show was miserable when the market's main barometer, the Hang Seng index, slippedAFP - 307 words
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Article767 1978-01-04 12 LONDON, Tues. Equities were mixed, while government bonds advanced strongly in relatively heavy trading on the strength of sterling against the dollar and speculation over a cut in Britain's minimum lending rate. Long-dated bonds were pared by up to to show net gains of up to one full767 words
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Article202 1978-01-04 12 Reuter FOUR Australian officials yesterday began talks with Malaysian trade officials In Kuala Lumpur to resolve the dispute over the pricing of Australian sugar Malaysia has contracted to buy under a long-term agreement. Malaysia, which has contracted to-buy 1.85 million tonnes/ot the sugar betweenReuter - 202 words
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Article124 1978-01-04 12 Reuter A TREATY to avoid double taxation between the Philippines and British governments has been ratified, the Finance Department said here yesterday. The tax convention was formalised in an exchange of letters of ratification between Secretary of Finance Cesar Virata and British Ambassador William Bentley.Reuter - 124 words
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Article54 1978-01-04 12 AFP HONGKONG'S Trade Department said yesterday normal licensing arrangement for exports of nonrestrained textiles to Bweden have been re-Intro-duced. This follows Sweden's acceptance of a Hongkong proposal that the marketing arrangement between them be extended for another three months Pending a new agreement to replace the one whichAFP - 54 words
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Article29 1978-01-04 12 AFP FREIGHT conferences covering Hongkong's trade with Europe and the AfricaArabia area have been renamed, the Far Eastern Freight Conference announced In Hongkong yesterday. ATP.AFP - 29 words
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178 1978-01-04 12 THE Bta(UMR director* at Sing-Thni Grains, the *2.5 million joist venture between the Republic'* Primary Industries Enter* prises and Thailand's 'Marbeting Organisation for Farmers of Thailand. wiiJ moot their Thai counterparts in Bangboh this month. The delegation, tentatively leaving on Jan IS. includes Mr.178 words
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Article88 1978-01-04 12 BANK Kerjasama Rakyat will have a new board of 10 directors. The Malaysian government's move Is aimed at revitalising the bank. Revealing this, the bank's vice chairman. Datuk Sulalman Nlnam said Parliament have tabled the new Bank Act and once gazetted, the present board of88 words
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Article526 1978-01-04 12 THE Government may introduce some form of preferential price adjustment for Singaporeans who gave up their old flats in order to live near their children. This wIH help in preserving the extended family and will cushion the population against changes brought about by new living526 words
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223 1978-01-04 12 THE United States is a major buyer not only of manufactured goods from this region but also of commodities. It is the largest market for rubber from Singapore and Peninsular Malaysia, accounting for nearly a fifth of all rubber exports. Another noteworthy market Is China,223 words
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Page 12 Advertisements
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Advertisement382 1978-01-04 12 A Major New latent in Penguins Paul Theroux Paul Theroux. an American now living in London, has been acclaimed as one of today's major writers compared with Graham Greene and Joseph Conrad. The Great Railway Bazaar, his latest in Penguins is the true story of Theroux's railway odyssey from London382 words
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