The Business Times, 10 February 1978
1978-02-10
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The Business Times
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Title Section11 1978-02-10 1 BUSINESS TIMES M.C.(P) No. 218/1/78 FRIDAY, FEBRUARY 10, 1978 50 CENTS11 words
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BRIEFLY...
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Article71 1978-02-10 1 AFP. JAKARTA, Thurs. The Indonesian government has prohibited the chartering of foreign ships to carry cargoes from Singapore to West Irian and vice versa, It was announced here today. The national shipping line, Pelnl, was given priority to ship cargoes between Singapore and west Irian and shouldAFP. - 71 words
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Article55 1978-02-10 1 Reuter JAKARTA, Thurs. Asean today sacked Its first secretary-general, 52-year-old Hartono Rekso Dharsono, on request of the Indonesian government. A lieutenant-general In the Indonesian army, he fell out of favour when he outlined some of the alleged failures of his government at a recent meeting of university studentsReuter - 55 words
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Article82 1978-02-10 1 AFP MIRI, Thurs. A MJIOO million pipeline will be laid off Labuan to take crude oil from future northern fields In Sabah to the Labuan export terminal. The project, which was awaiting the approval of the Malaysian government oil company, Petronas, would represent a considerable engineering challenge becauseAFP - 82 words
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Article56 1978-02-10 1 Reuter MANILA, Thurs. The Manila-based Asian Development Bank today announced a reduction in Its lending rate for loans from Its ordinary capital resources from 8.3 per cent a year to 7.63 per cent. The new lending rate the second reduction in 12 months has been made retroactiveReuter - 56 words
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Article34 1978-02-10 1 Reuter BURICH, Thurs. New Zealand will float a 120 million franc 15-year bond Issue on the Swiss market from Feb. 17 to 22. Coupon and issue price will be set later.Reuter - 34 words
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Article74 1978-02-10 1 Reuter BEOUL, Thurs. Korea Shipbuilding and Engineering Con) said It expected to undertake a US$7O million (Ssl63 million) project to expand the facilities of Indonesia's state run Makassar Shipyard. Corporation officials said a contract for the construction of two dry docks Is likely to be signed nextReuter - 74 words
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Article74 1978-02-10 1 AFP PARIS, Thurs. Banking and nine major industrial groups In France will be nationalised within three months if the Left parties win next month's general election, Socialist Party leader Francois Mitterrand said today. Under the "joint programme" of the Socialist Party, Communist Party and Left radical party, bankingAFP - 74 words
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Article58 1978-02-10 1 UPI NEW YORK, Thurs. Against a dull news backpound, prices turned lower during the first hour of trading on the New York stock exchange. Trading was moderate. The Dow Jones Industrial average, was off 2.94 Bints to 779.72 shortly before 11 a.m. Declines I advances, 521 to 384,UPI - 58 words
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393 1978-02-10 1 AP. THE United States and Australia will hold a series of discussions In Sydney beginning on Feb 20 on Australian objections to Continental Airlines flying a trans-Pacific route. The meeting comes amid a growing battle over reduced air fares on the tfans-Paciflc routeAP. - 393 words
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Article817 1978-02-10 1 JOHN TAN - MANUFACTURING OUTPUT SPURTS By JOHN TAN SINGAPORE'B strong flrsthalf economic performance appears to have been sustained In the second six months of last year, giving hope that the economy may have grown by slightly more than the 8 per cent mentioned by Prime Minister Lee817 words
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Article237 1978-02-10 1 RONNIE LIM - By I RONNIE LIM MORE THAN $8 million In loans have been approved by the Development Bank of Singapore under the Small Industries Financing Scheme since ifwas Jointly launched by DBS and the Economic Development Board In November 1976. DBS said that in the237 words
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Article, Illustration379 1978-02-10 1 SINGAPORE will have to place far greater Importance on the domestic sector because trade Is likely to grow far less rapidly this year. Some export Industries, such as shipyards, textiles and garments will also be affected by protectionism and will need to make379 words
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Article89 1978-02-10 1 ALTHOUGH the unemployment rate declined in a number of Industrialised countries In 1977, prospects for the next few years remain gloomy. The International Labour Organisation said yesterday that unemployment rate declined in tte United States, Ireland, the Netherlands, Norway and Switzerland, but reached new peaks in Canada, France,89 words
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308 1978-02-10 1 JAPAN and China will sign a long-term trade agreement in Peking on Feb. 16 which will boost their twoway trade by US$2O billion (SS4C.6 billion) over eight years. The agreement will run from the current year and will involve imports by Japan308 words
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518 1978-02-10 1 Reutar, AFP. THE EEC has officially informed Japan of a comprehensive list of measures it wants implemented by Tokyo to reduce Its trade surplus with the community. A Foreign Ministry spokesman said the list was given to Mr. Masahlro N. Nlshlborl, Japan's ambassadorReutar,; AFP. - 518 words
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Page 1 Advertisements
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Advertisement21 1978-02-10 1 SAFE WITH AN ITOKI SAFE •mts smß»(s)m im 47 Podium Mock. Qoiox" Mau. NMOK Road S-ngjponlt Td 2S2IMM Cael. SUSNESTEMS Singapore21 words
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Advertisement196 1978-02-10 1 m Your link to world markets When the world is your market you'll need a bank with international capability and service to handle your dealings efficiently and with a minimum of fuss. Whatever your requirements and wherever your business take you, we've got the right connections for you. Whether you196 words
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Advertisement82 1978-02-10 1 aMMj RUBBER duty cut doou't Imrilt FORUM with Joha Dryodalo 7 ■mail bu 2 DIVIDEND yWM m eritarioo for fSA apgradw ailoui* m iluw f iaiwf—t 10 NEW air ft*gfct MrVio* to Far RUBBER stoeka amr had it oo R—t 6 good U WHEN tho jot-hop Htoo NBT oaphUaa to82 words
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Advertisement270 1978-02-10 1 whatever you need in menswear,get Raft... MOHAN'S DEFT. STORE (PTE) UP. 321. Orchard Road'M *****22 (n»xt to Mandarin HoM) Branch lOl.Tangiin Shopping Cantia 'fct *****40 Oatly :9am-9pm SEE BACK PAGE Wtjfoomf MAF. A Umdmg bamd wbt* poM mmd H most. "If only I had the money..: John Tan, private businessman270 words
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TRADE AND INDUSTRY
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Article208 1978-02-10 2 COURSES AND TALKS DATES TITLE LOCATION ORGANISER Feb 41(11 Telephone Techniques and Courtesies SIM Conference Room SIM 6—15 Material Store Accounting and Control Hotel Royal Ramada 6—17 LCA Module 11: Basic Industrial Pneumatics NPB Jurong Office NPB i 0 —17 IE Module I: Methods Study Hotel Royal Ramada208 words
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318 1978-02-10 2 IMPROVEMENT works underway on the irrigation network in Perak's richest rice-bowl areas of Krlan and Sungel Manik Is expected to cost at least MS 100 million, it was disclosed in Ipoh. State Financial Officer Dato Kamarulzaman bin Abdul Rahman said the State Government318 words
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Article179 1978-02-10 2 AFP A VIETNAMESE rubber mission has arrived in Kuala Lumpur for a twoweek visit to work out the details of assistance that Malaysia has promised to provide to rehabilitate Vletnam's natural rubber industry. The mission is headed by Dr. Dang Van Vln, direc-tor-generalAFP - 179 words
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Article42 1978-02-10 2 THE Singapore Institute of Management will conduct a course on motivating the worker from March 14 to 16. The course covers human motivation, high and low motivating factors and fringe benefits. Fees are $240 for members and $260 for others.42 words
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Article, Illustration729 1978-02-10 2 KADIR JASIN - A $36M DENT IN REVENUE ■y KADIR JASIN TWO rubber experts said the recent restructuring of export duty by the Malaysian government, on the commodity Is unlikely to benefit the greater part of the smallholder sector because the benefit at the current price729 words
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299 1978-02-10 2 AFP CHINA has accepted safeguard conditions set by the United States for the multimillion dollar sale of three large Japanese computers to Peking. The conditions are: a reduction of memory capacities in the computers' ancllllary devices and the stationing of technicians from the manufacturer,AFP - 299 words
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153 1978-02-10 2 Reuter. SOUTH KOREA Is negotiating with Westlnghouae Corp of the US (or the construction of the country's fourth and fifth nuclear power stations. Energy Resources Ministry officials said the government Is likely to sign a contract soon with Westlnghouse for supplying nuclear equipmentReuter. - 153 words
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219 1978-02-10 2 Reuter. INDONESIA will import not more than 2.3 million tonnes of rice In the fiscal year 1977/ 78, the chief of the Logistics Board (Buloe) Bustanll Art fin, said. This figure takes into account the worst possible calamities, with currentReuter. - 219 words
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Article96 1978-02-10 2 MALAYSIAN export of palm oil to India soared to Ms29o million in the first ten months of last year bp from $9 million in 1976. Increased population and a sudden scarcity 01 ground-nuts In India weft the main reasons for the high Increase In96 words
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Article331 1978-02-10 2 UPI THE Fair Trade Commission is expected to approve soon the establishment of a Joint synthetic fibre sales firm by Asahi Chemical Industry and Kanebo Ltd. This is a second grouping in the industry, following that formed by Toyobo and Mitsubishi Rayon last November inUPI - 331 words
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Article106 1978-02-10 2 AFP DIVERSIFICATION of Hongkong's industry has been given a new Impetus with the signing of the first lease agreements for sites In the Taipo industrial estate. !i The estate, located in the New Territories area of Kowloon Peninsula, was established solely for new lndustrles of higher 1AFP - 106 words
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Page 2 Advertisements
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Advertisement88 1978-02-10 2 DO YOU KNOW... What is behind the big shake-up at the Bank of America? The latest oil discoveries in Indonesia and Malaysia? How extensive the Philippines' shipbuilding programme is 9 What plans Indonesia has for tourism 9 Why Taiwan does not expect a drop in electronics exports this year? That88 words
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Page 2 Miscellaneous
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Miscellaneous618 1978-02-10 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS I Be an understanding tupporter (6) 7 Politician haying a confrontation at the airport (8) 8 Inevitable crazy feat (4) 10 Bernard has somehow lost a letter! (8) 11 Soldier's great victory in the Eton game (6) 14 Persons of some note (3) 18 Changing618 words
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OVERSEAS
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802 1978-02-10 3 Reuter. THE RISE of nearly 2 per MM In the British banking Wttem's eligible liabilities In the Jannary banking month almost certainly foreshadows a fairly substantial increase in money supply over the same period. In the December period, eligible liabilities rose 1.6 perReuter. - 802 words
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565 1978-02-10 3 Reuter I>XVALUATION of the Belgian franc would Immediately raise import pilces one per cent more than the devaluation and a few months exporters would lose any price advantages they gained. The National Bank In Brussels said this on Wednesday. In Its annual report for lastReuter - 565 words
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Article156 1978-02-10 3 Reuter. FRENCH Socialist party leader Francois Mitterrand called on the government to strengthen foreign exchange controls. He said the government could cut the time in which -Importers can buy spot currency ahead of needs to one day from eight, and to a tar days from two monthsReuter. - 156 words
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WORLD IN BRIEF
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Article463 1978-02-10 3 Agencies. US Senator George McGovern (Democrat, South Dakota), repeated his opposition to President Carter's proposed USS2S billion (8156.25 billion) tax cut, and said he will use the congressional budget process to propose alternatives. Sen. McGovern told the Joint congressional committee the tax cut should be Mlmlnated.Agencies. - 463 words
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355 1978-02-10 3 Reuter THE BRITISH government may continue in office until after the spring budget of lfTt. Chancellor Denis He*ley, according to the Press Association, told the parliamentary Labour Party at the House of Commons "nobody should assume that we are going to have a generalReuter - 355 words
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898 1978-02-10 3 Reuter. OPEC oil -exporting countries were substantial net borrowers of new funds from the international banking system in the third quarter last year for the first time since the 1973 oilprice rise, latest Bank for International Settlements (BIS) statistics on international lending show. InReuter. - 898 words
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Page 3 Advertisements
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Advertisement274 1978-02-10 3 fly Pakistan International to 15 fascinating Middle East cities Pakistan International's Middle East connections 125 flights every week to 15 cities Pakistan International flies to more places than most people realise. For instance, we have the best connections to the Middle East from the Orient. Combined together, we have 125274 words
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RAW MATERIALS
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Article294 1978-02-10 4 THE market closed In Singapore yesterday quiet with February One RSS buyers quoted at 201.50 cents per kilo, unchanged from last Friday's close. Opening prices were about unchanged due to lack of lead from overseas and thereafter conditions ruled idle throughout the period. There was294 words
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Article229 1978-02-10 4 R. AS prices In cents per kilo yesterday: Noon (per kilo) Buyers Sellers Int. 1 R.S.8. prompt t.o.b. 201 SO 202.00N Int. 1 R.8.8. Feb 201.SO 202.00 Int. 1 R.8.8. March 201 SO 202.00 Int. 2R.8.8. 107.75. 198.75N UK/Cont 198 75 197.75N Int. 3 R.8.8. 194.75 195 7SN229 words
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Article110 1978-02-10 4 NOON SSR and SMR prices yesterday: February Inarch HAS (Current Mth) (Fa rward Mth) Buyer* Sellers Buye rs Sellers loeau per kg) (e* a fc a e SSR 20 (1-ton pallet) 192.50 194 SON 193 50 195 50N SSR SO (1-ton pallet) 190.50 192 50N 191.50 193.50N110 words
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Article28 1978-02-10 4 Rubber: Feb 9 Singapore: February 201.50 cents (unchanged) Malaysia: March 203.50 cents (down 4 cent) Tins: 11,710 (down $6) Official offering: 215 tonne (up 5 tonnes)28 words
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Article147 1978-02-10 4 SOYBEAN futures in Chicago fell on liquidation which left closing prices at the day's lows and off 10% to 814 cents a bushel on Wednesday from Tuesday's. Traders attributed the market's weakness to liquidation by tired longs but they also cited weakness In product futures, reports of Increased country147 words
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Article133 1978-02-10 4 IN LONDON on Wednesday, pepper prices closed as follows: (Price* per lone ton elf European port* unless otherwise Indicated > Sarawak White FAQ: Spot CI.MON Afloat (per tonne) US*3 200 sir Jan/ Feb (per tonne) UB»3 200 sir. Sarawak Black Special: Spot CI,WON Afloat (per tonne) UK*2.3SB sir.133 words
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Article451 1978-02-10 4 ROBUSTA futures opened in London yesterday, £9 to t'32 per tonne higher compared with Wednesday's close. Turnover was 428 lots. The official tone was "steady". Spot March featured In early trade house buying while fresh chart Interest pushed July higher. Dealers attributed opening gains to tightness of nearby robusta451 words
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Article78 1978-02-10 4 C.I.F US dollars per Ion. LONDON: Wedmdav Prrvmii Malaysia 5% f fa bulk April Sumatra 5% ffa Feb March April May June Nigeria 5* ffa bulk unch unch 528 1 1/427 1 1 pd unch 500/407 1 > pd 487 1 1/485 pd unq 507 sir 550 slr/54578 words
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Article87 1978-02-10 4 WHEAT futures lost 2W to 3 1 4 cents a bushel in Chicago on Wednesday, finishing the session at or just above the day's lows. The downward break In soybean futures generated a good portion of the speculative selling which weakened prices, especially late in the session. In the87 words
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Article251 1978-02-10 4 THE Straits tin price In Penang yesterday dropped Ms 6 to $1,710 per plcul on an official offering of 215 tonnes. Values fell in line with lower London Metal Exchange prices, but buying from Europe. US and Japan was still noted at this level. In LONDON yesterday tin251 words
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Article283 1978-02-10 4 TERMINAL sugar in London yesterday, opened C 1.25 to C 0.40 per tonne down from Wednesday afternoon's closing levels. Turnover totalled 685 lots. The market continued its easier trend under commission house selling and long liquidation. The plentiful supply situation and small offtake of raw sugar has reasserted itself283 words
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Article268 1978-02-10 4 TERMINAL cocoa finished a short first call down against New York by £11.50 to £5 per tonne. In London yesterday. Open trading was erratic, however, with prices moving uncertainly In extremely thin dealings. Sentiment may have been influenced by market talk of light origin sales on Wednesday by both268 words
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Article321 1978-02-10 4 COPPER wlrebars fell by £6.00 per tonne for caahand £5.50 for Three Months In London yesterday. A declining trend In the early pre-market was attributed to lack of demand and a tendency for sterling to harden against the US dollar. Bearish forecasts for most major commodities by chart analysts321 words
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Article270 1978-02-10 4 SILVER showed losses of mostly 2.0 pence per troy ounce in London yesterday. The overnight drop at New York and the decline in gold were the main depressing influences, trade sources said. The market held steady at the lower levels, however, as offerings were generally well absorbed by covering.270 words
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Article248 1978-02-10 4 RETAIL prices per Uiel quoted by the Singapore Chinese Gold and Silver Merchants Association are $520 for 90 per cent gold, $550 for 22k gold and $560 for 24k gold. In LONDON yesterday, the morning gold fix was U*****.00. 70 cents higher than the previous fix of $174.70. On248 words
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Article133 1978-02-10 4 LEAD ended the morning In London yesterday £3.50 per tonne lower for cash and £4.25 down for Three Months. Dealers said the market initially fell back under the influence of lower copper, and Three Months traded from £318.00 down to £315.00 per tonne. However, values stabilised in the ring133 words
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Article144 1978-02-10 4 ZINC was C 0.50 per tonne higher for cash and CO. 75 lower for Three Months at the end of the morning ring, in London yesterday. Trade sources said dealings were featured by heavy influential borrowing of cash which narrowed the Contango from £4.50 to C 3.00 on the144 words
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MONEY AND EXCHANGE$
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Article460 1978-02-10 4 BOTH the local and foreign money markets were extremely quiet yesterday, with rates remaining steady throughout. Sterling opened at U551.9330/40, falling only slightly with London's entry into the market, and then firming up again to the 1.9327/37 level by closing time. The Deutschemark opened at 2.1075/85 to the460 words
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Article39 1978-02-10 4 acbc' 7 7 hsbc 7 Bank of America 7 lndoturt Bank of China 7 Malayan BmMi MiUui Bank 7 7 Bank Ncgara OCBC (S OUB 7'« UCB Chaw Manhattan 7 UMBO T DBS 74 LOB 739 words
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Article166 1978-02-10 4 Asian rates ASIAN currency deposit interbank rates u at close on reb 9 US Delia Offer 7 days 7/8 6 3/4 1 mth .7 6 7/8 2 mths .7 3/8 7 1/4 3 mths .7 J/16 7 J/16 6 mths 7 11/16 7 8/16 8 mths -7 J/4 7 5/8166 words
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Article160 1978-02-10 4 Euro rates DAY-TO-DAY rates reversed the recently easier trend In light trading with overnight and seven-day rates bid 1/10 higher to 263/16 26-1/16 per cent and 67/8, 6-3/4 per cent respectively. One to six-month periods were adjusted up to 1/4 higher because of the loss of the Friday dealing technicality160 words
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Article233 1978-02-10 4 STERLING yesterday opened firmer against the dollar, partly underpinned by Wednesday's news that UK miners have accepted In principle a pay settlement within the government's 10 per cent pay guideline. The French franc also appreciated, reflecting some unwinding of short positions and an easing of French corporate franc selling233 words
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Article159 1978-02-10 4 STERLING closed stronger against the dollar In fairly quiet, stable trading on Wednesday, aided by news British miners appear to have accepted the governments 10 per cent wage Increase guidelines. Sterling ended at $1.9325/ 40 compared with Its 1.0248/ 55 opening, reflecting concern about wage settlements with the159 words
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Article91 1978-02-10 4 THE dollar for overnight delivery closed slightly lower at 241.50 yen, compared with 241.55 at the opening and Wednesday's close. Trading was moderate with volume $190 million. The dollar hovered slightly above the opening level, but eased on export covering by manufacturers near, the close. Dealings were limited to91 words
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Article60 1978-02-10 4 AUSTRALIA/ NZ exchanges on Feb 9: AUSTRALIA US dollar I 1381/ 1.1333 Sterling 0.307/ 0 5042 Ninety-day air mall buying rata Sterling 0 8042/ US dollar* 1.1081 Ninety-day forward buying rata* Sterling 0 5000/ US dollar* 1.1338 NEW ZEALAND: Sterling 0.5286/ 0 5287 US dollar 1 00*3/ 1.0183 Ninety-day60 words
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Article62 1978-02-10 4 ZURICH exchanges closing quotes on Feb 8: US dollar 1 8502-9802 Stg 3 7870-7714 Can 1 7880-7879 D Mk 02 8300-0313 D F1 88 7288-8113 F Fr 40 1887-2508 B rr 5 0788-8853 D Kr 34.2897-3202 N Kr 38 1041-2254 8 Kr 42.1515-1121 Ut 0 2285-2287 Ana ad) 1262 words
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Article47 1978-02-10 4 FRANKFURT exchanges opening quotes on Feb 9: US 2 1006/1106 (2 1006/ 1106) Can 1.8880/ *8 Stg 4.070/ 888 Dfl 03.25/ 45 Sfr 107.86/ 06 Ut 2 435/ 445 Tfr 43.15/ 30 Nkr 41.12/22 Bfr (eon) 0 430/ 449 Bfr (fin) 8.44/ 45 Yen 0.8720/ 4047 words
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Article308 1978-02-10 4 STRAIGHT Eurobonds traded either steady or a shade firmer In generally quiet conditions In London yesterday. Sterling issues firmed slightly in line with the rise in sterling. EUROBOND prtew quoted on T*b 8tw«M» BM omm Total Ol Sterling 0*04 m Sterling 0*17 Courtanlds uitSN ruorustf 10W17 lneo 0 18308 words
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Page 4 Advertisements
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Advertisement288 1978-02-10 4 The Business Times of Malaysia and Development Bank of Malaysia Asean-West Asia Investment Conference Kuala Lumpur, Malaysia, 9-10 March 1978 Asean resources and manpower, West Asian finance and the technology and expertise of the industrialised countries can be harnessed for mutual benefit. The Asean-West Asia Investment Conference in Kuala Lumpur288 words
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TRANSPORT
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609 1978-02-10 5 THE major domestic American Airlines have become embroiled In a strange kind of price war, whose continuing escalation will benefit both consumers and the airline companies. Discounts have increased sharply over the last several months because the. transcontinental carriers are trying desperately to609 words
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Article183 1978-02-10 5 AP. TRANSATLANTIC grain rates reflected the depressed state of the freight market on Wednesday as another 25 US cents was pruned from the US Gulf-Holland rate for large bulkers. The bulk-oil carrier, "Jag Leela" accepted US$4.5O (fio) for a 75,000-ton, Feb 20-28 shipment, and this business broughtAP. - 183 words
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Article, Illustration304 1978-02-10 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES El Salvador Maru (1430) 13/14 Ibn Ma J Id (0700 after Luna Maersk) 38/30 Kenlngau (0600) 20 Kota Ball (1500) 45 Nlaga XH (0700) 34 Pakalong Merantl (0800) 25/26 Palatino (0600) 18 Rajah Brooke (1500) 21 East Samson (0600 28 Sanel Maru304 words
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Article, Illustration978 1978-02-10 5 GOH ENG KEE - SHIPPERS COMPLAIN OF DELAYS By GOH ENG KEE THE PORT of Singapore Authority (PSA) has Introduced several measures to improve its pilotage services, which several port users said were responsible for disruptions to their shipping services recently. A PSA spokesman said the measures Include close978 words
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442 1978-02-10 5 Reuter HOVERCRAFT companies, already proving tough competition for the more leisurely cross-channel ferries between France and England, are planning to cut deeper still Into their traffic after April. That Is when the world's biggest and fastest hovercraft. the N-500 Navlplane, goes Into service,Reuter - 442 words
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232 1978-02-10 5 A NEW air freight consolidation service for Australian manufacturers exporting to Singapore, Hongkong and Japan and Sydney and Melbourne will commence on March 1, general cargo will be carried at competitive rates, says Emery Air Freight Corporation, a leading air freight forwarder. Exporters232 words
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Article136 1978-02-10 5 Reuter THE UK/Israel Israel/UK conferences announced that they have raised the currency adjustment factor (CAF) rate to 12.75 per cent from 11.64 per cent from Feb. 0. The rate will be reviewed on a monthly basis when an appropriate adjustment will be made, they said. TheReuter - 136 words
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104 1978-02-10 5 Reuter. A NEW Uner service for general cargo from North Continent to the Red Sea was announced in Piraeus by the managing company, Ocean Carriers Hellas Ltd. The line, to be called "Ocean Carriers Red Sea Service," will be inaugurated with the sailingReuter. - 104 words
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Article88 1978-02-10 5 UPI THE Shin Y a mam oto Shipbuilding Co. yesterday petitioned the Kobe district court for protection from creditors In Japan's biggest bankruptcy case this year. Credit researchers estimated the liabilities of the Kobe-based firm at 24 billion yen (***** million). Established in 1961, the companyUPI - 88 words
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Article751 1978-02-10 5 ARRIVALS Service La Operator Number Tb Ml d< From KAL KE807 0015 SEL PAA PA005 0215 SFO/HKO CAL CI 331 0040 TPE/HKO/KUL MAS MH601 0715 KUL MAS MH682 0610 KCH SIA SQ101 0815 KUL MAS MH621 0835 PEN MAS MH607 0645 KUL MAS MH671 0945 PEN/KUL GIA751 words
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Page 5 Advertisements
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Advertisement141 1978-02-10 5 SINTAT Rent-a-Car SINGAPORE AIRPORT TEL *****f CITY TEL *****55 Call us for your local onward reservations Don't let the language barrier stop you from wider contacts K 7 M P. i I mm i f r\Pl f r ss-ss*. YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at home, while141 words
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Article747 1978-02-10 6 SINGAPORE'S economic growth last year, likely to turn out to have been at least 8 per cent will cheer many. But success can also bring more problems than It solves. Undeniably, the higher the growth rate, the more Jobs will be created, the higher the standard747 words
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Article, Illustration3261 1978-02-10 6 PETER CHIA - Like Kung-fu masters, Chinese bosses withhold their trump card By PETER CHIA FOR THE PAST 20 years, he has burled himself in his work. He has been ruthless, lucky perhaps, scheming sometimes, but certainly, he has always been quick to seize an oppor- f tunlty. It has3,261 words
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Page 6 Advertisements
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Advertisement714 1978-02-10 6 ym Where to wine I Orcchid inn "an onu tn ttM ort*nt" 214 Dunearn Road, B'pore 11. Tel: *****2 Moby Dick (24 Hr. Coflfco Houoo) Whet your appetite with our wide vtrHtir of Inter-Continental food laid on our buffet lunch table dally from 12.00 3.00 p.m.. Weekdays: Adults $8.00 3*714 words
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Page 6 Miscellaneous
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Miscellaneous62 1978-02-10 6 WEATHER outlook for Singapore from 6 a.m. to noon today: Local showers around noon. Report for 24 boon prior to 7.30 pm on Fob I at the airport. Maxim am Temperature M.l'C Aaoodatad Humidity U Minimum Temperature J3.t*C Aaaodatad Humidity M Hour* of Sunshine S.M Rainfall ia Millimotrea Traoa Total62 words
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Miscellaneous187 1978-02-10 6 TV SINGAPORE 5 3.00 P.M. Opening announcements followed by Housewives' Matinee I love you forever (Mandarin Repeat) 4.35 Intermission 6.05 Opening announcements followed by Exercise with Gloria 6.30 News in Brief 6.35 Hazel (Repeat) 4 7.05 In Search Of Strange visitors 7.30 News and Newsreel in Malay SINGAPORE 8 Colour187 words
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Article, Illustration1258 1978-02-10 7 A. KADIR JASIN - iy A. KADIR JASIN MALAYSIA'S Rubber Industry Smallholders Development Authority (Rlsda) turned five this week. Launching the authority on Feb. 8, 1973, the late Prime Minister, Tun Abdul Razak, said: "With the formation of Rlsda, a special organisation has existed to guide1,258 words
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Article, Illustration398 1978-02-10 7 ONE OF THE more unpleasant tide-effects ef tourism is the way it can distort the development of local art; another is the loss of innocence it accelerates among rural folk. There are still painters even in most unrural Singapore cheerfully painting away at canvases peopled with398 words
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Article608 1978-02-10 7 BONN: The firm of Schnellkauf Plastik (Quick Plastic Sales) seems at first sight like any other. The office rings to the clatter of typewriters, a shirtsleeved employee feeds data Into a computer. In the corner a secretary brews coffee. Over in the608 words
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Article728 1978-02-10 7 JOHN DRYSDALE - (FOBD Mi ■y JOHN DRYSDALE MY CALCULATOR tells me that, If every husband divorced his wife and employed her instead as a housekeeper, Singapore's Gross Domestic Product (ODP) would Increase by 7 per cent. This anomaly, and the fact that if a housewife can Join the728 words
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Page 7 Advertisements
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Advertisement431 1978-02-10 7 W ;T i 2 U ~V 01 t mciiico lINCAPODI Tanglin Circus, S'pore 10. Tel: *****1 Marco Polo Restaurant The Executive's Business Luncheon a four-course meal of haute cuisine, Inclusive of a glass of wine and coffee/tea Marco Polo Restaurant $17.00 10% service charge 3% government tax Car valets In431 words
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Page 7 Miscellaneous
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INTERNATIONAL STOCKS MARKETS
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Article421 1978-02-10 8 TOKYO: Share price# doted slightly higher yesterday with late profit-taking paring initial gains, dealers said. The Dow Jones titnn rose 3.49 to close at 5,148.12 with volume of 340 million shares. The New Index cloeed at 386.35, down 0.17. Blue chips rose initially following a rally on Wall Street,421 words
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Article342 1978-02-10 8 BYDNEY: Industrials and minings firmed selectively yesterday while golds met buying Interest, with Coatral Worse—■ rising ABB cents to $8.56 on Its dividend and gold price prospects, dealers said. The Bydney All-ordinaries Index rose 1.31 points to 489.50. BHP rose two to 5.48 and the Bank of New South342 words
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Article166 1978-02-10 8 MANILA: The market closed mixed with commercials averages up slightly yesterday, while minings declined and oils remained unchanged, dealers said. Turnover rose significantly to 3.25 million pesos from Wednesday's 1.83 million pesos. Atlas and Pkilos declined while other mining Issues were unchanged. In oils. Pfcil Oversea lost one point166 words
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Article160 1978-02-10 8 FEB n Baku Asia Fibre 296 -3 Bangkok Bank 410 +4 Bangkok Investment 420 -S Bangkok Metropolitan Bank unq Bank of Ayudhaya Ltd 344 Bala Shoe 860 -5 Berll Jucker 540 unch Carpet International unq Charoong Thai Wire 433 +13 Crown Seal unq DusltThanl 301 First Trust unq General160 words
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Article291 1978-02-10 8 AMSTERDAM: All actively traded stocks were higher where changed on Wednesday, led by transports Nadlloyd and Ommeren, and Algemene Bank, though trading was light, dealers said. Philip*, Royal Dutch and HVA held steady, while small losses were recorded by Fakkar and DIC, with AkeM the only major loser at291 words
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Article167 1978-02-10 8 BRUSSELS: Belgian share prices were mostly lower In moderate trading on Wednesday, bourse sourses said. Hoboken, UCB and Comatra rose, while Cobma. Viailla Montague, Hainaut Sambre, Aeoe, St Rock, CBR and Tabacofina fell, SocieU Generate was unchanged after announcing a dividend rise. In foreign stocks. UK were unchanged or167 words
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Article352 1978-02-10 8 FRANKFURT: Share prices roes across the board although a lack of follow-up orders dampened trading towards the close on Wednesday, dealers said. Banks firmed on good business with Bayeea Hype gaining 2.80 marks, while Kbeekker Worke advanced one mark In higher steels after announcing It wul acquire Kim's take352 words
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Article309 1978-02-10 8 PARIS. The franc's firmer tone on the foreign exchanges helped the market extend Tuesday's gains on Wednesday, dealers said. Metals were dull but other sectors advanced, with Parriar and Printempa gaining pound. The 4.5 per cent napoleon-llnked loan lost a further 10 francs to 772. US stocks were well-309 words
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Article137 1978-02-10 8 MILAN: The market closed lower In fairly active trading on Wednesday on reduced Interest and continuing political uncertainties. dealers said Sola Vlmna. Plat, Pinlli E C and both Oltottis showed some faint In lower Industrials. Mrtitam was barely chanted In mixed banks, while Aulcuultil Geaerall was marglnaßy lower m137 words
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Article352 1978-02-10 8 JOHANNESBURG: Gold shares continued easier towards the cloee following generally unchanged billion Indications and a lacx of overseas buying Interest on Wednesday, dealers said. Financial minings were mostly easier. Other metal* and minerals were easier in light trading. Industrials were narrowly mixed where changed in dull trading. FEB M352 words
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Article61 1978-02-10 8 FINANCIAL TIMES INDUSTRIALS Wednesday 468.4 Tuesday 463.7 Week Ago 409.8 DOW JONES AVERAGE INDUSTRIALS Wednesday 782.86 Tuesday 778.85 Week Ago 774.34 LONDON DOLLAR PREMIUM Wednesday 75% to 76* Tuesday 76* to 76* H.K. HANG 8ENG Wednesday closed Tuesday closed Week Ago 404.04 SYDNEY INDUSTRIALS Wednesday 468.28 Tuesday 410.58 Week61 words
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Article1340 1978-02-10 8 February 8 ON the Chicago Board Options Exchange, a total of 91,721 contracts was traded compared with 48,942 on Tuesday. OPTION AH JLY OCT STOCK Alee* 40 1&/8 UNTRD 31/4 40 Alcoa 49 a/i 1/0 191 40 Alcoa SO 1/10 NOL NOL 40 Alcoa 80 UNTRD NOL1,340 words
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Article259 1978-02-10 8 ZURICH: Prices were firmer after Tuesday's Wall Street advance, dealer* said. Bank* were steady, with Ualaa Beak higher, while among financial* laterfeed roae on market expectation of good result* for this year, they added. Parke also advanced, while lUili- 1 registered suffered from profit-taking Insurance* were mixed, while industrial*259 words
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Article302 1978-02-10 8 TORONTO: Share prices closed higher in active trading on Wednesday. The Composite Index was up more than four points and advances outnumbered declines by 220 to 151. Labatt A added 1/4 to 10-1/4. Ogilvie Mills, a Labatt subsidiary. Is selling Its flavourants business. Gaastar, vhlch Is negotiating purchase of302 words
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Article1002 1978-02-10 8 NEW YORK: Stock price* added another gain to Tuesday'* strong advance, as action on Wall Street returned to normal following two bllssard shortened trading *eaak>na. Analysts attributed the upswing to a drying up of setting, which they called a positive technical and psychological factor. Also helping the tally1,002 words
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Advertisement268 1978-02-10 8 •y/'j i I m 17 I 7 cr V*' sjsm WM <*** 39? 2 •v A <L* The three bosk needs and the three ports of Britannico 3 understanding, insight, and wisdom in every field of learning. Written by experts, approved by experts, but not written for experts. It is268 words
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INTERNATIONAL COMPANY NEWS
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Article406 1978-02-10 9 ASIAN COMPANIES Reuter. MELBOURNE: Broken Hill Pty Co (BHP) said It appears the group's overall results for the current half 6f the year ending May 31 -ljwill be about In line with those of the first half. 1 The sectional contributions to the overall consolidated netReuter. - 406 words
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Article190 1978-02-10 9 Reuter. Commercial Co of Sydney (CBC) said it considers the rmprovement In its first half tesults to end December will continue for the second half. It announced a consolidated net profit after extraordinary items of A 51.23 ■million, compared with a -$3.94 million loss in theReuter. - 190 words
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Article224 1978-02-10 9 Reuter. MELBOURNE: Bougainville Copper said it will need additional borrowing in 1978 to finance capital expenditure, working capital and loan repayments, and arrangements have been made for adequate funds to cover these needs. Outstanding loans at end-1977 amounted to 115.7 million klna, compared with 121.0 million klna atReuter. - 224 words
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Article119 1978-02-10 9 APP JAKARTA: The state operated Garudn Indoneainn Airway* last year ear—i a total revenue of U*****,8 million compared with only $13.4 million 10 year* ago, company director Wiweko •aid hero. Speaking to aowinoi after reporting the progreea of the Garuda airline to Preaident Suhnrto, theAPP - 119 words
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Article89 1978-02-10 9 CALTEX Pacific Indonesia has discovered three new oilfields in the Riau province of East Sumatra, An tar a news agency reported. Quoting a company •pokeaman, the agency said the fields, discovered during the last two months of last year, have been named Arah, Tanggul and Topas and89 words
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Article61 1978-02-10 9 TOKYO: Gulf Oil Corp and Elkoku Co will Jointly conduct teat drilling off northwest Japan In April to search for oil and natural gas deposits, the Japanese firm said. It said drilling would last three months and go to a depth of 3,000 metres below the seabed61 words
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Article431 1978-02-10 9 NORTH AMERICAN COMPANIES Reuter. BECTON, Dickinson and Co., a hospital supplies maker, filed suit in federal court In New York seeking to undo the acquisition of 34 Sr cent of its shares by Sun an oil firm, In private deals last month. Becton, Dickinson also accused itsReuter. - 431 words
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128 1978-02-10 9 Reuter CATERPILLAR Tractor Co said It expects increased sales volume In 1978 due to a generally Improved economic climate in nearly all parts of the world. The company said In Its annual report the amount of any sales Increase will be dependent on developments InReuter - 128 words
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271 1978-02-10 9 Reuter DU Pont Co sales and earn»for the first quarter be better than the same quarter last year, Robert Richardson, vice president finance, said before an analysts' meeting. In last year's first quarter, Du Pont earned U552.45 a share on salesReuter - 271 words
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Article40 1978-02-10 9 XEROX Corp said directors increased the quarterly dividend to USSO cents from 40 cents paid previously, payable April 1, on record by March 3. Xerox said directors also set the annual meeting for May 18 In San Francisco.40 words
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Article541 1978-02-10 9 Reuter GENERAL Motors, the world's biggest car maker, reported record profits for 1977 U553,338 billion, a gain of 15 per cent over 1976. For the fourth quarter, OM's profits totalled a record $936 million, or $3.28 a share, 17.4 per cent .higher than the last quarterReuter - 541 words
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Article255 1978-02-10 9 BOEING Company made a profit of US$lBO.3 million last year on a turnover of 94,200 million said chairman and chief executive Mr. Thornton Wilson. The figures compared with sales worth $3,900 million and profits of $102.9 million in 1976. Boeing said It expects 1978 sales will be255 words
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Advertisement0 1978-02-10 9 [@$@~|=<|*{>\.`/<{",-"};_=<%(]>0 words
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Advertisement289 1978-02-10 9 THE AUDIOPHILE He's an inquisitive fellow, what else? And into Hi-Fi. And in The Craft of Sound magazine. What's this thing called an audiophile? He's into hi-fi in a big way, of course. And his pipe and whiskers are for certain. Much else we don't know, but we've crowded quite289 words
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854 1978-02-10 10 NYT. FOR many years Wall Street has been preoccupied with capital gains as the best method of making money in the market. Brokers and analysts have thus emphasised price-earnings ratios, assigning the highest such ratios to the companies with the best earnings growth.NYT. - 854 words
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662 1978-02-10 10 NYT AftrfONG the problems confronting investors is that stdck market forecasts reach different conclusions from the same data. Two recently published forecasts in New Ypgk one bullish and one baarlsh illustrate the dilemma. VOh the bullish side Is Anthony Gaubis of AnthonyNYT - 662 words
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Article872 1978-02-10 10 NYT FOR years, American corporations have raised enormous sums by selling their securities directly to large Investors like insurance companies and pension funds, rather than in the public securities markets. Last year alone, these private placements raised more than US$2O billion (8940 billion) In new capital.NYT - 872 words
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Article2321 1978-02-10 10 Closing prices on Monday 1*7/1*78 Last High Low Comp««y Sale ♦erGr's Div Div Frr Gr's Y'M Net P/E Vel (*999) Day High Low SECTION ONE INDUSTRIALS 154 260 11« 246 88' 205 169 278 422 146 132 165 58 212 57* 155 144 182 350 91 Ac2,321 words
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Advertisement161 1978-02-10 10 Vg*l COLLECTINQ Oriental Antique; by Judith Moorhouse and Dries Blitz E3 Hamlyn Group, London. Oriental antiques have always fascinated collectors throughout the world, evoking as they do the exotic and Inscrutable East. It Is, however, widely believed that they are too expensive for the average collector. This myth Is perpetuated161 words
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COMPANY NEWS
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Article, Illustration1638 1978-02-10 11 CHAN BONG SOO - By CHAN BONG SOO WITH certain exceptions. Investors In rubber plantation stocks have very good reasons to be cheerful. For over the past 13 months their holdings have appreciated considerably against a generally dull stock market. At the close of trading on the Stock1,638 words
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435 1978-02-10 11 NORTH Borneo Timbers was unable to foresee the drastic decline In Its earnings capacity for the current year because of an unexpected hike In royalty rates coupled with the "longer than expected" slackness In the tlmbei market. This is the reason given by the435 words
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Article656 1978-02-10 11 ANOTHER dreary set of figures from shattered .investment company Worldwide Holdings show losses for the half year to June 30, 1977 amounting to $181,883 against the loss In the comparable half of $19,798 and a loss of $119,062 for the whole of 1978. The company's statement656 words
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Article541 1978-02-10 11 WITH a net profit before tax of $2 million three years after Its controversial decision to close down one of its two canneries In Johore, Kumpulan Fima Berhad is all set to consolidate the activities of Its various companies. It has amply demonstrated Its ability to541 words
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Article181 1978-02-10 11 Current Ex Date Tetal for Total for paymaot Date payable the rear previous year Oilfc— Klata Coaao<M) 190%(C) Jan 10 Feb 15 150% Sewtlura Malayaa Ha Dp^gtag(M) 98*(C) Jan 10 Feb 15 #9% Kr TMM 35* Jan 1 Feb 16 50% 50* 3.5*1 Feb 1 Feb 22 3.5%181 words
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PEOPLE IN BUSINESS
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Article59 1978-02-10 11 has uetfll dppuiuicu director of Robert Bosch (South East Asia) Pte Ltd In Singapore and Kuala Lumpur. Mr. Zimmermann takes over from Mr. Ristcr who will become director of the Robert Bosch Sales house In Munich. Mr. Zimmermann joined Bosch in 1961. Before his Singapore assignment he59 words
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Advertisement241 1978-02-10 11 s?® vv* I //C\ rm >.r> m a S«'/ I flui is 31 H ;s«? 0 m m, lIKKK I *©P m\ i V'A DON'T CROWD ROUND OTHERSP LET OTHERS CROWD ROUND YOU! S* «4O k 1« <4 n >* A well-read person is a well informed person. That's why241 words
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828 1978-02-10 12 NYT A DEEPENING dispute over the condition of Saudi Arabia's rich oil fields has developed between the Carter administration and tii« four American oil companies whose privately owned Arabian American Oil Co. produces virtually all the oil there. These problems may make it more difficultNYT - 828 words
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Article, Illustration630 1978-02-10 12 TOYOTA Motor Co president, Seisi Kato said Japan will soon have to impose voluntary quotas on sales of cars abroad. "Japanese cars on the export markets wilt soon be thrown back in the sea," he told the West Oerman magazine "Auto Zeltung".630 words
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Article213 1978-02-10 12 Reuter THE Philippines expects expenditure of 700 million pesos on oil exploration this year involving some 20 exploratory wells, compared with last year's 525 million pesos. Several more wells are to be drilled off the western island of Palawan. The Energy Development Board has said itReuter - 213 words
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Article771 1978-02-10 12 LONDON. Thurs. Stock prices closed higher, with sentiment boosted by the coal miners' vote to adhere to the government's pay guidelines Government bonds firmed a point and more in heavy trading, and the government broker re-activated the long tap" Exchequer 10'« per cent 1995, which traded at 26'.771 words
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486 1978-02-10 12 Reuter. THE Australian government's budget deficit In the first seven months of fiscal 1977/ 78 to end-January was A 54.56 billion (5512.3 billion) compared with $4.82 billion in the same period last year. The August 1977 budget projected a 2.22 billion deficit for theReuter. - 486 words
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894 1978-02-10 12 Reuter, AP. BRITISH export competitiveness measured by unit labour costs Is still at a low level suggesting that fears of less competitive prices from the pound's recent appreciation against other major currencies are exaggerated. This Is the main conclusion of a reviewReuter,; AP. - 894 words
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Advertisement1035 1978-02-10 12 China trade... a US$2O billion 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,1,035 words
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