The Business Times, 25 April 1978

Microfilm: NL9628
Total Pages: 16
1 16 The Business Times
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  • Title Section
    Masthead
    11 1 BUSINESS TIMES M.C.(P) No. 218/1/78 TUESDAY, APRIL 25, 1978 50 CENTS
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  • BRIEFLY...
    • Article
      Lock icon Jakarta oil
      81 1 Reuter HONGKONG, Mon. Indonesia's oil production will dip this year but liquefied natural gas exports should compensate for revenue losses, Pertamlna's chief executive said in an Interview published here today. V Piet Haryono said, "For 1978 I anticipate a •mall decline and In the following years a further
      Reuter  -  81 words
    • Article
      Lock icon The big one
      90 1 AFP BANGKOK, Mon. Thai Board of Trade president Ob Vasuratna has warned that Thailand toay suffer a record trade deficit of 40,000 million baht (554.6 billion) and a balance of payments deficit of 12,000 million baht this year. Speaking at a week-end trade seminar, Mr. Ob noted
      AFP  -  90 words
    • Article
      Lock icon Swiss budget deficit
      38 1 Reuter BERNE, Mon. Switzerland had a federal government budget deficit of 1.47 billion francs (5J1.76 billion) last year, 301 million below target and 106 million below the actual turnout for 1976, the government said. Reuter.
      Reuter  -  38 words
    • Article
      Lock icon Top up please
      65 1 AP VIENNA Mon. The President of the Asian Development Bank and the chairman of its board of governors today called for the replenishment and expansion of the bank's lending capital. Their addresses followed closed door meetings of the donors to the Asian Development Fund. They are trying
      AP  -  65 words
    • Article
      Lock icon No share
      34 1 UPI NEW DELHI, Mon. The Indian government today announced that foreign companies working with India in oil exploration will not be allowed a share in any oil produced from the venture. UPI
      UPI  -  34 words
    • Article
      Lock icon Orders halved
      59 1 AFP TOKYO, Mon. The yen's sharp appreciation nearly halved new orders placed with Japanese shipyards in fiscal 1977 ended March, the Transport Ministry announced today. The Japanese shipbuilding industry received new orders for 364 vessels of 4,945,000 gross tons during the fiscal year under review, down from 666
      AFP  -  59 words
    • Article
      Lock icon Generous Saudis
      45 1 Reuter RIYADH, Mon. Saudi Arabia's foreign aid to Arab, Islamic and developing countries last year totalled US$6.6 billion (5515.2 billion) representing 16.55 per cent of its oil Income. Among the beneficiaries were Egypt, Jordan, Syria, North Yemen, the Sudan, Somalia and Pakistan. Reuter.
      Reuter  -  45 words
    • Article
      Lock icon Export bank?
      31 1 Reuter JAKARTA, Mon. The Indonesian Export Promotion Institute (BPEN) has proposed the establishment of a government export development bank to help Indonesian exporters, Antara News Agency reported today. Reuter
      Reuter  -  31 words
    • Article
      Lock icon Dow Jones
      63 1 UPI NEW YORK, Mon. Stocks headed upward In heavy trading early today in response to the dollar's climb on foreign exchanges and Eastman Kodak's stronger-than-expected earnings. The Dow Jones Industrial average, which fell 1.74 points on Friday, was ahead 1.56 points to 814.36 shortly before 11 a.m. Advances
      UPI  -  63 words
  • Chief Price Changes
    • Article
      In Singapore yesterday
      126 1 Rises ATI 203 Tronoh Mine# 565 Main Rice 171 City Dev 120 Taaek Cement 290 Kemayan 198 CMJB 276 Tfanu Dev 144 Fosan 147 SPPL B9V» Guinness 565 Ialand Pen 270 Falls Setron 191 Strait* Trading 360 Spore Glasa 136 Magnum Corpn 326 TtmeaPub 306 C Sugar*
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    • Article, Illustration
      In Kuala Lumpur
      152 1 Rit«t Most active 32,00 +.18 API 480,000 Caatlefield 10.60 +.40 City Dev. 489,000 Hone L*on« 3.10 +.20 Cons Plant 278,000 API 2.07 +.18 T'ganu Dev 210,000 &2? V 2? t-}2 Total Turnover: 4.75 m Sg Beai 5:2 i:!o Total Value: M$8.95 m Berjuntai 7.50 +.10 T'ganu Dev
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  • Article, Illustration
    Silver lining in property market
    482 1  -  SHOP SPACE IN DEMAND Br SOH TIANG KENG A SURGE of Interest In shopping complexes has restored some of the old sparkle to the commercial property market In Singapore. Valuers agree that shop prices at such complexes started to pick up early this year. Current
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  • Article
    Computerising telecoms
    196 1 SINGAPORE'S telephone network took another step into the computer age yesterday. The Telecommunication Authority of Singapore has awarded its $200 million contract for the supply of 400,000 lines of computer-controlled telephone switching equipment to Hitachi Limited (Japan) and its agent, Marubeni Corporation. It was the largest single contract
    196 words
  • Article
    US prepared to consult producers first
    849 1 THE UNITED States is prepared to consult tin producers and the International Tin Council before making disposals from its stockpile, to ensure that the market would not be disrupted. Malaysian Primary Industries Deputy Minister Paul Leong said this yesterday at the meeting of the
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  • Article
    Lock icon India to sell gold from May 3 to curb smuggling
    252 1 Reuter THE INDIAN government will for the first time tell gold from its stocks from May 3 in an effort to curb smuggling. Reserve Bank deputv governor, M. Ramakrishnayya, declined to disclose the amount but said a sale would be
    Reuter  -  252 words
  • Article
    Unilite is suspended on both exchanges
    541 1  -  •y TOH THIAN SER TRADING In the shares of Unlllte Electrical Industries Berhad was suspended yesterday on both the Singapore and Kuala Lumpur stock exchanges. The suspension was because Unlllte had yet to submit Its accounts for the year ended December. 1976 and the
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  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      20 1 X Forthoee who wanttoptoy j their Avaiabte at Better GoM Stores Soto Aaant WHSTON'SPTE.LTDI Gl6. Ocmt BwMna Cer*m SKWonl *******6******
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    • Advertisement
      Page 1 Advertisements Column 2
      47 1 Only The Best French Continental Cuisine are served! EWfcftTJcT.l3., sasmaniiiiiKD Lunch: 11.30 t The NUC .Club 8P 1 -2 a" 1 'A *you£&eason3 more than just good food Catfet House Restaurant Executive Lounge*Nte-Club Straits Trading Building (Basement) 9. Battery Road. Singapore 1. Tel *****1 Ample parking space
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    • Advertisement
      Page 1 Advertisements Column 3
      73 1 +&?;}]%&]\%'(/\<@=>:",+?+<\%,$+ Leader Page f SHIPPING TIMES EXPORTERS seek new markets NTUC Travel Services going places ••e e•••• ee e••••••e MAERSK to operate Singapore flng ships FURNITURE sector steady ss she goes A LOOK at the lAC in KL FORUM: DBS shipping SHELL profit slide despite sales rise SHOPPING complex that
      73 words
    • Advertisement
      Page 1 Advertisements Column 4
      91 1 U-B& APS ELECTRONICS (PRIVATE) LTD fc>taAP<sh£'Tw *****4 (5 Liom) APS ELECTRONICS (M) SON BHD KUttA LUMPUR Tel 03-*****0 Information for busy executives %xM-' .\:C,£ >•. HE w A 111 TW flfi in ASEAN BUSINESS QUARTERLY I j Please send copies of ASEAN Business Quarterly at S3lO per 'copy. My cheque
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  • TRADE AND INDUSTRY
    • Article
      Singapore is ideal for printing industry
      286 2 SINGAPORE'S policy of Encouraging foreign Investments, especially in skilled and capital-intensive fields, is conducive to the setting up of ventures In the printing business. Other factors which add to its attractiveness are Singapore's status as Asean member with Its large market potential for printed
      286 words
    • Article
      MEMO PAD
      280 2 DATE TITLE VENUE ORGANISER COURSE AND TALKS April 24May 13 Middle Management Course SITC SITC April 27 Export Financing Shangri-La IBF April 27, Personnel Management 28 and Workshop HUton consult April 30- Corporate Survival In Melbourne ICS A, Australia May 2 the 80s May 3 Marketing Now HUton
      280 words
    • Article
      Beating trade curbs with new markets
      702 2  -  By RONNIE LIM PROTECTIONISM In Europe and the US will continue to have Its effects on export-oriented economies of South-east Asia. The countries in this region, however, are beginning to counteract by seeking new markets. The recent signs of China's entry into the world
      702 words
    • Article
      Lock icon Yen rise may lift Taiwan's costs by 3pc
      481 2 AFP THE STEADY appreciation of the yen could push up manufacturing costs in Taiwan by 3 per cent, according to an official survey. The survey was conducted by Taipeh's Council for Economic Planning and Development on the impact of the yen's rising
      AFP  -  481 words
    • Article, Illustration
      Accessories galore
      166 2 THE ASIAN Automotive And Accessories Exhibition, 1978, will be be Id at the Hyatt Hotel convention centre from Sept. 21 to 24. The exhibition, which brines together manufacturers, assemblers, distributors and exporters of the motor car industry, will have products such as air compressors, air conditioners, body frames,
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    • Article
      IBF invitation
      156 2 THE Institute of Banking and Finance (IBF) is inviting entries for its second national banking and finance essay competition. The competition, which was first held last year, is Jointly organised by IBF and the Association of Banks in Singapore (ABS). Entrants must submit an essay on any of
      156 words
    • Article
      Lock icon COLOUR TV PLANT TENDERS
      62 2 Reuter THREE major Japanese electrical companies have been asked to submit tenders for building two colour television tube making plants in China. Industry sources in Tokyo said the three firms are Hitachi Ltd. Toshiba and Matsushita Electrical Industry Co Ltd. China wanted to build the plants
      Reuter  -  62 words
    • Article, Illustration
      Honey chief here
      86 2 THE chairman of the Australian Honey Board. T.N. Barton, and a manager K.A.H. Read, arrived here yesterday to supervise the board's display booth at FoodAsla. to open at the Hyatt tomorrow. The board Is set up to regulate honey exports, promote the country's honey both at home
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    • Article
      NTUC Travel Services is going places
      259 2 NTUC Travel Services, set up with a paid-up capital of $250,000, chalked up $14 million worth of sales last year, yielding a profit of $250,000. Its sales turnover for 1077 represents a 40 per cent Increase over 1976'5. NTUC Travel has also started NTUC
      259 words
    • Article
      Lock icon SARAWAK IS DOING ITS BEST
      159 2 AFP SARAWAK is doing everything possible to ensure that the M 52.4 billion liquefied natural gas plant at Bintulu is completed on schedule in 1982, the state's Chief Minister Datuk Patinggi Haji Abdul Rahman Yakub said yesterday. He said that the state government is expediting
      AFP  -  159 words
    • Article
      Dearth of skilled workers in Malaysia
      309 2 LATEST statistics indicate that the Malaysian government faces a near Insurmountable problem in developing and training a skilled workforce so vital for implementing projects under the Third Malaysia Plan. According to the January bulletin of the Ministry of Labour and Manpower, a large proportion
      309 words
    • Article
      KL builders way ahead of schedule
      296 2 MALAYSIAN private housing developers are progressing so rapidly that they might even reach their Third Malaysia Plan target this year, two years ahead of schedule. This forecast was made by Datuk Michael Chen, Minister of Housing and Village Development,ln Kuala Lumpur. His forecast came
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    • Article
      Hong Leong loan plan
      60 2 HONO Leong Finance Bhd. is studying; the ductlon of loans for wfrx-* sumer items like colour, television sets, Its genera* manager in Malaysia,; Michael Oh,said. The company Is dlß»>' cussing the matter wltjfy*' television agents at moment. Mr. Oh said Hqng Leong Finance presently gives loans
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  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      122 2 For a Successful BANKING Career n LIT PIA Ml tRA MA V Rl NEI I study with Wfolsey Hall for the Institute of Bankers CONVERSION COURSE Successful candidates of the Conversion Course will gain direct entry to the Institute of Bankers Part II or Stage II examinations leading to the
      122 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      674 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE 4 John has a fortune In paintings. etc. (6) 7 Rabblt-Uke? (8) 8 The problem of having drinks with royalty 10 Put one's foot down (5) 13 Idlers are so shy! (4) 14 Foreigner accommodated by the Bedser brothers (4) 15 No coward gets her love
      674 words
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  • OVERSEAS
    • Article
      Lock icon NY bank earnings up
      799 3 NYT MANY of New York's big banking companies, in contrast to their results of preyious quarters, have reported strong earnings Increases for the first three months of this year. The rise from yearearlier levels occurred despite a continuing and unusually long wait for a pickup in
      NYT  -  799 words
    • Article, Illustration
      Lock icon Oiling the wheels of industry as an insurance
      439 3 Reuter TRINIDAD and Tobago is forging ahead with a US$3.7 billion (SsB.s billion) industrial diversification plan against the day when the oil wells and their riches run dry. According to Senator Mervyn de Souza, of the Ministry of Finance, the government's Intention
      Reuter  -  439 words
    • WORLD IN BRIEF
      • Article
        Lock icon HK EXPORT SAFARI
        341 3 Agencies HpNGKONG, ever keen to look for new markets and reduce its dependence on major Western trading F>artners, has sent Its argest-ever trade delegation to Africa. A spokesman for the Ttade Development Council said the 26-man group is mounting a display of goods in Ghana, Hongkong's 44th
        Agencies  -  341 words
    • Article
      Lock icon EUROBOND DOLLAR ACTIVITY IS TRANSITORY
      415 3 Reuter THE REVIVAL of new Issue activity In the US dollar sector of the European market and the slight recovery In secondary market prices last week following Wall Street's buoyant trend Is likely to be transitory, Eurobond managers in Luxembourg said. While In the short-term
      Reuter  -  415 words
    • Article
      Lock icon US short-term rates set for another upswing
      686 3 NYT MANY WALL Street money market analysts are predicting that short-term interest rates are heading upwards. They see a second round of increases coming as early as this week following last week's quarterpoint rise. But with the Treasury's re-financing scheduled for mid-May, they
      NYT  -  686 words
  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      75 3 NOTICE To the holders of the floating rate U.S. Dollar Certificates of Deposit due 28th April, 1981 of: The Mitsui Bank, Limited Hong Lacing Building. 16 Raffles Quay Singapore 1. We hereby certify that the rate of interest payable on the above-mentioned certificates of deposit for the interest period beginning
      75 words
    • Advertisement
      Page 3 Advertisements Column 2
      116 3 I Z tz i>%*V i4^/ C% y 9:12 a.m. London. ft t V' T li r f. MSpM wMMmwrnmi Eft MMI BigM BSppSitli l?i*nWn^iTqW^s nw PTTRf^H^i [Qii«i«ri^iT-gWi Siagapore: Clifford Ceatre Office, Clifford Centre, 24 Raffles Place. Tel: *****2 Shaw Centre Office, Shaw Centre, Scotts Road. Tel: *****2 Boat Quay Office,
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER
      352 4 THE MARKET yesterday opened about unchanged here, and then ruled quiet In early trading. Prices firmed slightly on some speculative buying and forward interest, particularly July/ September. Physicals were neglected. The morning session closed quiet with May One RSS buyers quoted at 205.50 cents per kilo,
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    • Article
      Closing prices
      30 4 Rubber: April 24: Singapore: May 207.00 centa (up 2.00 cents Malaysia: May 212.00 cents (up 2.00 cents) Tin: 5i,552 (down M) Official offering: 244 tonnes (up 29 tonnes)
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    • Article
      RAS PRICES
      317 4 Prices in cents per kilo yesterday: Noon (per kilo) Close (per kilo) Int. 1 R.S.S. prompt f o b Int. 1 R.S.S. May Int. 1 R.S.S. June Int. 2 R.S.S. UK/Cont. Int. 3 R.S.S. UK/Cont. Int. 4 R.S.S UK/Cont. Int. 5 R S.S. UK/Cont. Buyers 204.25 205 00
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    • Article
      SSR AND SMR
      100 4 NOON SSR and SMR prices yesterday. May June RAS (Current Mth) (For wart Mth) Buyer* Seller* Buyer Seller* (cenu par kg) (ee« it* par kg) SSR 20 (1-ton pallet) 196.50 198 50N 197.50 M.JUl* SSR SO (1-ton pallet) 194.50 196.50N 195 50 197.SON M.R.E.L.B. 220.00N SMR5CV (1-ton
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    • Article
      Produce exchange
      269 4 GENERALLY steady conditions prevailed In quiet trading on the Singapore produce market yesterday. All the commodities, except copra, were quoted unchanged from their previous closing levels by the Singapore Chinese Produce Exchange. A steady stream of Inquiries boosted the price of copra by $1 to $56 per picul.
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    • Article
      Coffee
      206 4 ROBUSTA futures ended the opening call In London yesterday barely steady £25 to £10 per tonne down from Friday. Turnover was 309 lots. Prices moved lower under a mixture of commissionhouse and trade activity and this touched off some additional stop-loss selling when chart points on spot May and
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    • Article
      Sugar
      187 4 SUGAR futures in London yesterday opened £1.35 to £0.50 per tonne up on Friday afternoon's closing levels in a turnover of 1,170 lots. Dealers said the steady opening reflected trade buying and short-covering in a market rather nervous pending news from the weekend buying tender in Iran for 72,000
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    • Article
      Rice
      264 4 BANGKOK rice prices were quoted as follows yesterday: (In US dollars per tonne f.0.b., basts Bangkok) White Ricc: 100 pet Ist class 442. 100 pet 2nd class 427. 100 pet 3rd class 422. 5 pet 413. 10 pet 400. 15 pet 392. 20 pet 387 25 pet 377 35
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    • Article
      Cocoa
      160 4 TERMINAL cocoa steadied at >the opening in London yesterday by about £20 but finished the call with pared gains of £17 to £10 per tonne. Dealers said the rise was partly due to pre-weekend steadiness in New York and currency factors. Sentiment was also affected by further reports of
      160 words
    • Article
      Gold
      233 4 THE KILOBAR In Singapore yesterday opened at 5512.940 and fell to as low as $12,854 on news that the Indian government was planning to sell gold. It recovered slightly after the announcement to close at $12,908. In the loco London market, the metal opened at U*****.55/85 and closed at
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    • Article
      Hongkong comex
      144 4 THE sugar market yesterday closed slightly higher with closing prices quoted 0.20 to 0.25 US cents higher than the previous closing, dealers said. The Hongkong dally spot sugar price rose 0.20 to 7.60 US cents. Sugar futures closing prices Previous Closing Clonal May 7.80/8 30 7 80/85 Jly
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    • Article
      SPOT PRICES
      196 4 YARN and cotton In Hongkong dollars, spot ex-godown: Cottoa Vin; China Blue Phoenix 20s 1.770. 32s 2.080. 40s 2.200 (per bale of 400 lbs). Piece Goods: China Butterfly and Globe Brand unq, Dragon Head unq. Five Lambs unq. Flower and Butterfly unq. Flying Geese unq (per piece 36
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    • Article
      Lock icon Imports of soybean for Japan rose sharply in March
      631 4 Reuter JAPAN'S soybean imports in March rose sharply to 335,647 tonnes for 18.89 billion yen from 263,414 tonnes for 15.27 billion yen in February. March imports compared with 265,031 tonnes for 20.97 billion yen a year ago. The March total included
      Reuter  -  631 words
    • Article
      Lock icon USSR buys Philippine coconut oil
      98 4 Reuter THE USSR has recently bought 42,500 tonnes of Philippine coconut oil. In Its weekly world commodities roundup, the US Agriculture Department said total coconut oil exports from the Philippines to the Soviet Union In calendar 1978 are about 100,000 tonnes, compared with 29,300 tonnes
      Reuter  -  98 words
    • Article
      Straits tin
      151 4 THE STRAITS tin price In Penang yesterday rose MSI to $1,552 per plcul, $52 above the International Tin Agreement celling. Dealers said turnover rose to 244 tonnes from 215 last Saturday. In LONDON yesterday, tin showed gains of £25 for cash and C2B for Three Months standard. High
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    • Article
      Copper
      138 4 COPPER wirebars finished the morning in London yesterday showing losses of L 4.50 for cash and £5 for Three Months. Values declined on the pre-market under commls-slon-house liquidation and some chart selling prompted by the trend In New York on Friday, dealers said. Three Months traded down to 1699
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    • Article
      Silver
      55 4 SILVER on the London Metal Exchange declined by mostly 2.4 pence yesterday morning. Prices were marked down initially reflecting the late downturn In New York on Friday, traders said. Subsequently, the market held steady in the absence of any undue pressure either way. Trading was extremely light with turnover
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    • Article
      Zinc
      52 4 ZINC closed the morning in London yesterday 10.50 higher for cash and unchanged for Three Months. Values reflected the fluctuating trend In copper with Three Months trading from a pre-market low of 1295 up to L 302 In the ring following the unresolved strike situation at Belgium's Prayon and
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    • Article
      Lead
      68 4 LEAD on the morning lost £1.50 for cash and £2.25 for Three Months In London yesterday. An easier pre-market trend reflected the decline in copper with Three Months trading down to £308 per tonne. Losses were mostly erased in the ring as small shortcovering was prompted by the continuing
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    • Article
      Lock icon The weather vane of economic activity
      1062 4 NYT Reuter WHEN market prices for any commodity hit a low point, watchful analysts and traders begin to accentuate the positive. They are doing Just that with regard to copper, one of the basic Industrial metals, and a kind of weather vane of economic
      NYT; Reuter  -  1,062 words
    • MONEY AND EXCHANGES
      • Article
        Singapore market
        420 4 THE US dollar yesterday held steady at fairly high levels against the other currencies on the foreign exchange markets. Against the yen, the dollar opened at 227.30/50 and was traded up to 228.50/70 before London trading got It down to 228.15/35. Against the mark, the dollar opened at
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      • Article
        Minimum lending rates
        69 4 THE PRIME rate of most commercial banks in Singapore now stands at 7 per cent. Oversea •Chinese Banking Corporation is stiU offering 6'» per cent to its best customers while United Commercial Bank is maintaining its prime rate at 7■ a per cent. The stated prime rate
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      • Article
        Asian $ rates
        180 4 Asian rates ASIAN currency deposit Interbank rates as at close on April 24: US Doll lin(8r*> Offer Bid 7 days .7 3/16 7 l/u 1 mth .7 3/4 7 5/8 2 tilths .7 7/16 7 5/16 3 mths .7 9/16 7 7/16 6 mths .7 15/16 7 13/16 9 mths
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      • Article
        Discount
        51 4 RANOE of price* offered by discount houses on April 24: Overnight 3*4* Call deposits 3*S Clo«in| Buyinc SellinC 3-month Treasury bills 3 3/16 3 1/16 3 month Bank bills 4 1/1 4 V4 3-month CD 4 15/16 4 13/16 6-month CO 5 1/4 S 1/8 Source: National Discount Co.
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      • Article
        Hongkong
        140 4 SOME of the ground the US dollar gained earlier was lost as proflttaklng entered an active market yesterday, dealers said. Against the yen, It feu to 227.80/00 from Its earlier 228.20/30, but still remained stronger than New York's Friday closing 226.25/50. Similarly, it weakened to 2.0835/45 marks from the
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      • Article
        Australia/NZ
        55 4 AUBTRALIA and New Zealand exchanges on April 24: AUSTRALIA US dollar Lisa/ 1.1280 SUrtttV 0 8239/ 8.6164 Ninety-day air mall buying rate*: Sterling 6.6418 US do&r 1.1638 Nkwty -day forward buying rate*: Starting una* US dotkr una* NEW ZEALAND: Sterling 0 5662/ 0.5622 US dolwr 1 0157/ 1.0067 Ninety-day
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      • Article
        London
        160 4 TRADING was fairly active yesterday and rates were volatile as the dollar moved higher against mo&t currencies. Dealers said they were unable to pinpoint any major fresh factors fuelling the rise. The US currency reached 2.0817/32 marks after an early 2.0795/0810, up from 2.0760/80 at Friday's close here. Sterling
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      • Article
        Tokyo
        221 4 THE US dollar for overnight delivery yesterday closed sharply higher at 228.00 yen, compared with a 226.00 opening and 225.00 at Friday's close, dealers said. Trading was active with volume US$4Bl million. The US currency rose sharply on dollar buying by foreign and Japanese banks, but export covering attracted
        221 words
      • Article
        Euro $ rates
        125 4 Euro rates LONDON Eurodollar deposits yesterday opened quietly steady, dealers said. One Month was adjusted 7/16 higher to 7-3/4, 7-5/8 per cent because of a Friday end-of-period technicality. Other term deposits were virtually unchanged from Friday's closings except Four Months which shed 1/16 point. Rollover business was minimal. Short-dated positions
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      • Article
        Eurobonds
        401 4 STERLING denominated Eurobonds yesterday firmed by up to one full point on professional short-covering following the recent sharp falls, dealers said. Turnover was relatively light with retail participation reported negligible. Straight US dollar bonds were marked down by up to !4 point in quiet trading. Dealers noted nervousness about
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      • Article
        Frankfurt
        39 4 FRANKFURT exchanges opening quotes on April 24: US 2.0800/19 (2.0780/8800) Can 1.8360/40 Btf J. 787/797 DFI 83.00/75 8 FT 106.80/108.10 Lit 2.30/40 T Fr 44.79/85 N Kr 38.24/34 B Fr (con) 6.42/43r B Fr (fin) 6.40/41 Yen 0.8138/49
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      146 4 Study Accountancy with the Specialists Study with Foulks Lynch l \KW\i lONDON Since ISS4 1 oulks I vnch have specialised in from all round the world lor the \ui iou> \ccountancv examinations and over these vcars have achieved 149,000 SUCCESSES 406 FIRST PLACES 376 SECOND PLACES 4,000 other HONOURS m
      146 words
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  • TRANSPORT
    • Article
      Lock icon British Aerospace wins satellite contract
      181 5 Reuter STATE-OWNED British Aerospace said Its space division has been awarded a contract worth £75 million (*****.5 million) for Euro•i pean communications satellites. The contract covers pro.v vision of a satellite in orbit and a space on the ground in 1981 with a further two
      Reuter  -  181 words
    • Article
      Lock icon BOMBAY SURCHARGE
      60 5 Reuter THE Japan/Indla-Pakis-tan Gulf/Japan Shipping Conference said It will introduce a 15 per cent Bombay congestion surcharge on May 1 because of berthing delays at the port. There are 13 members of the line, Including American President Lines, Peninsular and Orient Steam Navigation Co, Johnson Line, Kawasaki Klsen
      Reuter  -  60 words
    • Article
      Air link proposal
      51 5 ERAWAN International Co said It has applied to the 4. Thai government for per- mission to operate a cargo and passenger airline service between Bangkok and Canton, Shanghai and Peking^ The airline will have an Initial capital of US$l.5 million (553.5 million) and will operate two Boeing
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    • Article
      Lock icon Canal project is swamped with problems
      1126 5 FT ARABIC is a direct and expressive language. Faced with the largest area of swampland in the world on the upper reaches of the River Nile in southern Sudan, the Arabs resorted to no false romanticism. They called It the Sudd, meaning blockage. Since
      FT  -  1,126 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      674 5 ARRIVALS 0 Service Local Operator Number Time From MAS' MH671 0945 PEN/KUL CAL CI 806 1000 HLP -CPA CX003 1005 HKG CPA CX710 1005 HLP GIA OA980 1030 HLP ■T.sia SQ103 1045 KUL JSIA SQ209 1045 HLP MAS MH605 1045 KUL OIA GA944 1055 PKU oia GA908
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    • Article
      Lock icon Rail workers strike
      122 5 UPI JAPAN'S train service will come to a virtual standstill today when national and private rail workers launch a Joint strike demanding pay increases. Two major trade unions of the Japanese National Railways (JNR) said they will shut down rail service for four days while the Federation
      UPI  -  122 words
    • Article, Illustration
      Maersk to operate Singapore flag ships
      278 5 THE well-known Maersk Line has extended its operations here with the formation of the Maersk Company (Singapore). Incorporated with a paid-up capital of S5 million, the company will own and operate Singa-pore-flag shi pa. The company will take delivery of iU first ship in
      278 words
    • Article
      Lock icon AIRLINE BILL NOW MOVES TO THE HOUSE
      544 5 NYT PROPONENTS of deregulation of US airlines, after a victory In the US Senate last week, are turning their attention to the House, where the reform measure has been sidetracked. The House leadership has Indicated that a bill could be cleared In several
      NYT  -  544 words
    • Article
      Lock icon More deaths from charter flights
      158 5 AP SAFETY in scheduled air travel worldwide improved sharply In 1977, the International Civil Aviation Organisation (ICAO) says. But the safety record of charter flights was worse than the year before. In a report released in Montreal, the United Nations agency said 630 people died
      AP  -  158 words
    • Article
      Lock icon Setting up joint line
      78 5 Reuter SPAIN and Iran will consider setting up a Joint shipping line, according to an economic cooperation memorandum signed In Teheran* The shipping line, to be studied by Iran's Arya National Shipping Co. and Spain's El Cano Shipping, would carry goods between Spain and the Oulf
      Reuter  -  78 words
    • Article
      EL AL RESUMES
      147 5 WORKERS and management over the weekend reached a temporary agreement that will permit the resumption of El Al passenger flights within 48 hours, spokesmen for both sides said. The agreement came after 20 days of strikes and a lockout that tangled the plans of tens of thousands
      147 words
    • Article
      Lock icon King-size airport
      623 5 NYT SAUDI Arabia Is building what industry sources say Is the largest and most expensive airport in the world. It will be almost twice the size of Manhattan and cost at least US$4.5 billion (Sslo billion). The airport is now under construction outside of Jeddah, the Saudi commercial
      NYT  -  623 words
    • Article, Illustration
      SHIPS IN PORT
      336 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bunga Mas (2300 after King Luck) 19 Cherry Vilja (B. Barge) (after Ocean Supply sails) 48 Esso Jurong (B. Barge) (1000 47 Ocean Supply (B. Barge) (0900 after Cherry VllJa sails) 48 Palm Sea Horse (Tanker P/O) (0900) 16 Voce (YTOV) (1500
      336 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      17 5 Jfifc BUDGET FARES OP NORTHWEST ORIENT AND The wide-cabin airline SUPER SAVER TEL *****41 FARES TO U.S.A.
      17 words
    • Advertisement
      Page 5 Advertisements Column 2
      159 5 COLLECTINQ Oriental/Intignej by Judith Moorhouse and Dries Blitz Hgl 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 perpetuated by all
      159 words
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  • Article
    Tin consumers shortsighted
    439 6 TIN CONSUMERS are afflicted by the short-term blindness that is common to consumers of nearly all products. It certainly seems like a neat proposition to pay a low price for a much-needed commodity, and It takes a great deal of will-power to focus on the long term,
    439 words
  • Article
    Commercial projects look inviting
    230 6 CITY Development's decision to build Its most expensive project to date, the $50 million City Plaza, Is testimony to the confidence developers generally seem to share these days that commercial projects can be viable and that they represent probably the most reliable source of Income over
    230 words
  • Article, Illustration
    Furniture sector heading for a mini-boom
    1243 6  -  TSANG SAU YIN' TAKES A LOOK AT THE FURNITURE INDUSTRY NO OLAMOUR BUT PLENTY OF GROWTH TSANG SAU YIN FURNITURE companies here are as solid as their product their foundations are not laid on the shifting sands that afflict shipbuilding and electronics. As a
    1,243 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      677 6 sinoapura FORUM j$ HOTEL ADMtfmefMw fin SM Orchard Road, S'pore 9. Tel: *****2 406/407 Havelock Road, S'pore S. Tel: *****1 Pebble Bar Experience the unique expression of Tanla Great Sound Big Show You'll love the dynamic and versatile Tanla For memorable yester hits and today's favourites. Only happens at the
      677 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      67 6 WEATHER outlook for Singapore from 6 a. m. to noon today: Isolated showers in late morning. Report for 24 hours prior to 7.30 p.m. on April 24 at the airport. Maximum Temperature 32.9° C Associated Humidity 55 Minimum Temperature 24.0° C Associated Humidity i.... 100 Hours of Sunshine 5 95
      67 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      260 6 SINGAPORE 5 3.00 PM Opening announcements followed by WHAT'S My Line 3.25 Diary of Events (English) 3.30 Afternoon Matinee The Scarlet Hour (Pt. 2) Starring: Carot Ohmart, Tom Tryon, James Gregory 4.15 Science Report 0 4.30 Intermission 6.05 Opeining announcements followed by Birdman and the Galaxy Trio 41 6.30 News
      260 words
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  • Article
    Call for greater public role in corporate policy
    972 7 HOW SHOULD the private power of the corporation the most important economic institution of American society be governed? The issue was debated intensively for four days recently at Harriman, New York, by 68 leaders of business, labour, education, the legal and accounting
    972 words
  • Article, Illustration
    HOW IAC WILL FUNCTION AS ARBITRATOR
    1337 7  -  ■y TAN SIOK CHOO in Kuolo Lumpur a week of the announcement of the establishment of an International Arbitration Centre (lAC) in Kuala Lumpur, a firm of solicitors approached the centre for assistance in the settlement of an international commercial dispute. This augurs well
    1,337 words
  • Article
    STRAWS IN THE WIND
    445 7 A PESTIFEROUS scribe in London bombarded Sony (UK) director Hlro Okochi with awkward questions at a recent launch of home video equipment What about the Impact on TV advertising, since the new machines allow the viewer to cut out "unwanted material" (le Interfering ads)? And what
    445 words
  • Article
    DBS shipping scheme weak
    1169 7  -  fFOBPM f 1 ...on economics t 4 By TERESA LIM I MUST have made the shipbuilders mentioned in last week's forum sound a little goody-goody when reporting their assertion that shipyards in Singapore do not want subsidies from the Government. The major shipbuilders here really do
    1,169 words
  • Page 7 Advertisements
    • Advertisement
      Page 7 Advertisements Column 1
      163 7 m A HOTEL MIRAMAR 401 Havelock Road, Singapore 3 Tel. *****2. HOTEL NEGARA 15 Claymore Drive, Singapore 9 Tel: *****1 HOTEL NEW HONGKONG 101 Victoria Street, Singapore 7 Tel: *****1. OBEROI IMPERIAL HOTEL I Jalan Rumbia, Singapore 9 Tel: *****6 ORCHID INN 214 Dunearn Road, Singapore II Tel: *****2 ORCHARD
      163 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Page 7 Miscellaneous Column 1
      58 7 BriStoW.' Rraojc Dickens DOMT KHOU) UHV NOU*e Ca lOt./iuT na>. <. OUR seicweD FiRT'YS RXfrJDOZ, S«£ OcSTefcFN STR)MG» 5tS «POIO IS, BFTetf PU-L, Ty<.SfbS?T OF VCiHGS... HC'S >ONrtlt RPCEGOeR RS R pnpfTTeß OF FpkC-T tT WP\S «btfc RCG»»NftLD vt>p\setf u>Mo DesteneD V CpvOMG COLOURS y PtNSTfejPfep SHifcT UiHlTe P*NID CjJFFS
      58 words
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Wait-and-see mood
      570 8 TOKYO WITH April drawing to a close, investors were In a wait-and-see mood yesterday. However, Incentive-backed blue chips strongly competitive all over the world, such as Kyoto Ceramic. Matsushita Electric Works and Rlcho, and speculative Issues such as Tomoegawa Paper and Mitsumi Electric advanced In moderate trading. Cyclical
      570 words
    • Article
      Hongkong
      410 8 3"HE market headed higher •again yesterday morning on the back of HK Wharf s rise to $19.00. Dealers pointed to overseas interest in the market, the allin gold and the many takeover rumours as the reason for the renewed buying Interest. The market was probably 4 points up in
      410 words
    • Article
      Sydney
      317 8 THE market yesterday closed generally mixed, with leading industrial and mining stocks slightly lower, dealers said. BHP lost four cents to A 56.22, ACI steadied at $7.70, the Wales eased four cents to $5.30. Among mining leaders, Utah added two cents to $3.52, Thless two cents to $2.10 and
      317 words
    • Article
      Manila
      115 8 THE market yesterday closed lower with all sectors declining In line with copper prices, dealers said. Turnover fell to 2.06 million pesos from Friday's 2.88 million. APR 24 Pesos Acoje Mining .008 +0 0004 Atlas Con. A Atlas Con. B 13.10 unch BaguioGold 0072 unch BenguetCon B BF Goodrich
      115 words
    • Article
      Bangkok
      138 8 APR 24 Bahts Asia Fibre 252 •6 Bangkok Bank 375 -2 Bangkok Invest. 360 -12 Bangkok-Metro-politan Bank Bata BerllJucker 478 -4 CarpetIntnl C'haroong Thai Wire Dumex DusltThanl Faber Merlin First Trust 311 -8 Oenera Finance 356 -11 Indo-Thai Industrial Finance Corp 2535 -40 J And J Ho .r Jalaprathan
      138 words
    • Article
      Selected indices
      30 8 H.K. HANG SENG Monday 448.82 Friday closed Week Ago 434.29 SYDNEY INDUSTRIALS Monday 409.87 Friday 409.72 Week Ago 408.51 ALL ORDINARIES Monday 469.87 Friday 469.94 Week Ago 469.29
      30 words
    • Article
      Lock icon Naked traders for the brokers
      1239 8 NYT WHEN A Wall Streeter says he's going naked. It means he has every intention of soon wearing customtailored suits. He's talking about the high-flying world of options trading. And although the risks of going naked writing call options for which one does not own
      NYT  -  1,239 words
    • Article
      Lock icon Hottest selling stocks
      1006 8 NYT SINCE the beginning of 1978. Wall Street's hottestselling securities have been money funds. Even the stock market* outburst two weeks ago, didn't slow them much. So far this year, US$2 billion has been pumped into money market funds, raising the total outstanding to a record $5.7
      NYT  -  1,006 words
    • Article
      Inflation adjustments shed light on assets and turnover
      621 8 GROWTH stocks were the darlings of the Investment community for many years, but the situation began to change with the bear market of 1974. Where once shares of companies that showed earnings growth of 15 per cent or more each year carried
      621 words
    • Article
      SPURT IN STOCK TRADING COULD BE MOMENTARY
      698 8 IS THE current spurt In stock trading a momentary phenomenon or the beginning of a more prosperous era for brokerage firms? If It should turn out to be the latter, It comes none too soon. The publicly owned brokerage firms have been reporting
      698 words
    • Article
      Lock icon Good fundamentals, but problems in store for Canadian timber
      516 8 Reuter CANADIAN Forest Products shares have generated a lot of buying Interest In the 1978 first quarter, but many analysts say this Is unlikely to continue despite good fundamentals and a devalued Canadian dollar. To begin with, the group is cyclical
      Reuter  -  516 words
    • Article
      Loopholes in takeover provisions
      611 8 THE Securities Institute of Australia (SIA) has called for a broadly based national Inquiry with the objective of a complete overhaul of company takeover provisions in Australia. But, the Institute is opposed to several changes proposed recently by Australian stock exchanges and cautions against "urgent action."
      611 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      179 8 m m m m o o c o o c o J sIKU> K tIOS'VV» H W IH\ N c i x r > r ur tv *> < :«V:> sft» #3 S&f; > This book comprises a mouthwatering selection of over 200 recipes for all the family. It is
      179 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Staggering blow to Lockheed earnings
      868 9 NORTH AMERICAN COMPANIES LOCKHEED Corporation, burdened by the spillover effects of a strike In the fourth quarter of last year, has reported sharply lower profits for the first quarter of 1978. Profits of the aerospace manufacturer, which earlier this month won a US$5OO million order
      868 words
    • Article
      Lock icon K Mart looks brighter on improved sales
      468 9 Reuter AS THE US recovers from a harsh winter, one of the early signs of a changing mood has been a revival in retail sales. Most economists expect this trend to continue well into the summer. However, for varying reasons, the outlook for
      Reuter  -  468 words
    • Article
      Lock icon Dunlop growth punctured
      382 9 EUROPEAN COMPANIES Reuter LONDON: Dunlop Holdings Ltd said an unexpected reduction in operating profit developed in the last quarter of 1977 after an Improvement In the first half against 1976. This was due to lost production caused by Industrial action in the UK factories of both Dunlop
      Reuter  -  382 words
    • Article
      Lock icon Ford churns out more investment
      290 9 Reuter LONDON: Ford Motor Co's British subsidiary, Ford Motor Co Ltd said it plans to spend £1.06 billion up to the end of 1981 on a new investment programme, which includes the new £180 million engine plant at Bridgend, South Wales. British Ford's chairman and
      Reuter  -  290 words
    • Article
      Lock icon Steel interests improving
      154 9 Reuter SALZGITTER: Group Net loss at Salzgltter came to 95 million marks In the year ended Sept. 30 1977 (loss 50 million mark) on turnover of 8.44 billion mark (8.86 billion mark). As in 1975/76, company offset loss by drawing 95 million (50 million) from reserves to
      Reuter  -  154 words
    • Article
      Turner and Newall rights issue
      70 9 LONDON: Turner and Newall Ltd said It proposes a one for four rights Issue at 152 p to raise about £32 million. The issue Involves 21.73 million new shares. The board expects to pay total dividends of 11.5 p net for 1978, a 13.9 per
      70 words
    • Article
      Lock icon Stringent measures at British Steel
      192 9 Reuter DUESSELDORF: British Steel Corp must restore profitability by cutting costs, shutting down more uncommercial plants and increasing productivity, chairman Charles Vllliers said. The state-owned concern has already taken stringent measures in recent months to raise productivity, closing down three plants since last October, he
      Reuter  -  192 words
    • Article
      Lock icon Anglo American first quarter gold report
      280 9 SOUTH AFRICAN Reuter ANGLO American Corp of SA Ltd said results of the group's free state mines for the quarter ended March 31 are as follows: In order, taxed profit (million rand), gold produced (kilos), yield (grams/ tonne) and cost (rand per tonne milled),
      Reuter  -  280 words
    • Article
      Lock icon De Beers to diversify
      123 9 Reuter DE BEERS Consolidated Mines Ltd said its operations in South West Africa (Namibia) should continue at this stage to be directed mainly, though not necessarily exclusively, to prospecting and mining developments for which there are encouraging prospects, chairman Harry Oppenheimer said. Noting In his annual
      Reuter  -  123 words
    • Article
      Lock icon More Alcoa shipments
      294 9 Reuter ALUMINUM Company of America, the largest US aluminium producer, predicted second quarter aluminum shipments will be higher than the 430.000 tonnes shipped in the first quarter of 1978. The optimistic forecast came as the company reported higher profits and sales for the first three months of
      Reuter  -  294 words
    • Article
      Lock icon Jeep division helps American Motors ride bumpy roads
      279 9 Reuter AMERICAN Motors Corporation (AMC), which has been plagued by sagging car sales, has reported slightly higher profits for the fiscal second quarter of 1978. The US$2.7 million profit for the three months ended March 31 was about in line with estimates
      Reuter  -  279 words
    • Article
      Lock icon Chrysler car hike
      237 9 Reuter CHRYSLER Corp said It raised prices by an average 5 per cent, or US$256, on 1978 model Dodge Colt and Challenger, Plymouth Arrow and Sapporo, and US-bullt Dodge Omni and Plymouth Horizon cars. It said the increase In average base prices Is $247 or 5.5 per
      Reuter  -  237 words
    • Article
      Lock icon Court order on AT & T delayed
      117 9 Court order on AT T delayed Reuter THE US court of appeals delayed Implementation of its April 14 order in which it directed American Telephone and Telegraph Co to provide interconnection facilities for MCI Telecommunications Corp's Execunet service. It said it delayed the order while AT and T and the
      Reuter  -  117 words
    • Article
      Texas Instrument
      53 9 TEXAS Instruments Inc projects Its 1978 capital investments will rise to US$3OO million from $199 million last year, president Fred Bucy told the annual meeting. Bucy estimated the worldwide semiconductor market for US companies will grow 15 per cent this year to $740 billion after growing 14 per
      53 words
    • Article
      Lock icon Woodside Petroleum probes deeper
      303 9 ASIAN COMPANIES Reuter MELBOURNE: Woodside Petroleum Ltd and its northwest shelf partners plan to spend about ASI6S million over the next three years in further exploration off the coast of Western Australia, Woodside chairman Geoffrey Donaldson told the annual meeting. Woodside's share of this expenditure will
      Reuter  -  303 words
    • Article
      Lock icon Komatsu in UK
      102 9 Reuter KOMATSU Ltd is considering the establishment of a British plant to build earth-moving equipment, Kenji Sakal, president of Komatsu Europe, said. The new plant would supply Europe, Africa and West Asia, he said, adding "Scotland is one of the candidates a very strong candidate." Sakai said
      Reuter  -  102 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      269 9 I vV» 5^ f/C\\ V .jV I m 88W iwvr m u 2/ w '4fe »T7 l£§B>=« WgftU If#? I i If I 1 li l^. Itli ■V, I Hii 2' i«*s 3^ ;iS&B ti«!" nS flk^3l u>?v'.w )\v/v M. wsmme H allc c*' J, r a* v ,-«H Tr*
      269 words
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  • DEALS DONE ON THE SES AND KLSE
    • Article
      In Singapore
      1579 10 BID and offer prices officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of 1.000 units unless otherwise specified. All Time Settlement Contracts are quoted after the world "sett". Big Board deal
      1,579 words
    • Article
      Government bonds
      166 10 5 1/4% 15/10/79 (250,000) (101.308 101.608) 4 3/4% 15/9/80 (250,000) (100 208 100.458) 5% IV4/81 (250,000) (100.908 101.058) 5% T F 15/10/81 (250,000) (102.70B) 5% T r 1/5/83 (250.000) (100.458 100.558) 7 1/4% 15/4/86 (250,000) (100.70B) 7 1/4% 1/5/87 (250,000) (100 758 100.85S) 5 1/2% T F 15/VB7
      166 words
    • Article
      Stock options
      226 10 STRIKING prices of the stock options officially listed on the Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday, with the number of options traded shown In brackets. Pan Electric (June Closing Tone: Easy TURNOVER: Official figures supplied by the Stock Exchange of
      226 words
  • Article
    Unit trusts
    149 10 SINGAPORE UNIT TRU8T INCOME BOND UNIT (Manager*' price far April 2S) (Currant p rieaa) The Commerce 1.07 2 09 INCOME BOND 1.04 1.10 The Saving Fund 1.14 1.21 S pore Prof Fund 094 ON MARA BUMIPUTRA FUND S pore Security (Manager*' price* for April 25 Fund 1.82 1.93
    149 words
  • Article
    SHARE INFORMATION SERVICE
    2455 10 1978 High Low Company Last Sale +orGr's Div Div C'vr Gr's Y'ld Net P/E Vol COOO) Day High Low SECTION ONE INDUSTRIALS 181 213 137 225* 72* 247 183 336 422 152 132 123* 112 195* 60 V, 191 144 256 394 123 Acma Alcorn Allied Choc
    2,455 words
  • Article
    In Kuala Lumpur
    1814 10 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets in lots of 1.000 units unless otherwise specified. INDUSTRIALS Aema (1 808). AJinamata (2.178) XALL. Alum (1 908 1 948)
    1,814 words
  • Article, Illustration
    Second liners higher
    725 10 SINGAPORE SECOND liner Associated Plastic* Industrie* continued to forge strongly ■head in a mixed but a cave Singapore stock market yesterday. Opening at $1.89, two cents higher than its previous close, the share went on to touch $2.03 for a net gain of 16 cents on the
    725 words
  • Article
    KLSE ends on a firm note
    652 10 A GENERALLY steady trend prevailed on the Kuala Lumpur Stock Exchange, yesterday despite some profit-taking and Itght liquidation at one stage. After Friday's price correction, the market opened on a fairly steady level yesterday. Prices, however, started to edge lower by mid-morning. The bulls
    652 words
  • LATEST RESULTS
    • Article
      Straits Trading:
      32 10 Group pre-tax profit $35.04fni1110n ($31.56 million) for tne year ended Dec 31, 1977. Group turnover $890 million ($839 million). Final dividend 18 per cent (same). Proposed bonus issue of one-for-three.
      32 words
    • Article
      Setron:
      35 10 Group net profit $1.81 million ($2.61 million) for the year ended Dec 31, 1977. First and final dividend four per cent tax exempt and six per cent less tax (12.5 per cent less tax).
      35 words
    • Article
      Gold Coin:
      40 10 Group pre-tax profit *8.4 million ($6.04 million) for the year ended Dec 31, 1977. Group turnover $167.37 million ($148.38 million). Final dividend six per cent less tax and two per cent tax exempt (11 per cent less tax).
      40 words
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  • COMPANY NEWS
    • Article
      Shell profits slide despite sales rise
      774 11  -  By MANO SABNANI THE termination of its Jong-term fuel oil supply contract by August this year will remove one unprofitable area of operations at Shell Refining (FOM). Hitherto, this long-term contract has proved to be a pain-in-the neck for the company which is obliged
      774 words
    • Article
      Perak Carbide labour talks in deadlock
      322 11 NEGOTIATIONS between Perak Carbide and the National Union of Petroleum and Chemical Industrial Workers (NUPCIW) over the fate of the more than 230 workers in its Kampung Dew plant, which is to shut down temporarily, have failed to achieve results. The union and the
      322 words
    • Article, Illustration
      APMG gets the green light for Rawang
      1213 11  -  By DAVID CHOW ASSOCIATED Pan Malay* sia Cement, the Malaysian manufacturing arm of Malayan Cement, has given the thumbs-up for its ambitious M$ 100 million expansion project In Rawang. Revealing this in his annual address, the chairman of Malayan Cement, Mr S.F. Willey,
      1,213 words
    • Article
      DIVIDENDS ANNOUNCED
      715 11 Current Ek Books Date Total fov Total far K.L. Kepong Deb G.E. Life A. Enterprise Talam Mine* payment Date close payable the year previous yoar 6.25%(g) Apr 7 Apr 19 Apr 25 10*% 22%< k) 10%(n) 5%<n) Apr 17 Mar 31 Apr 24 Apr 12 Apr 12 Apr
      715 words
    • Article
      SCRIP ISSUES
      248 11 Company Particulars Ex Date Books Close Dunlop (M) Ind. Bata (M) Berhad Consolidated Bonus Issue of 1 for 5 Bonus Issue of l for 3 Apr 18 Apr 20 Apr 28 May 3 Plantation* Kempas (M) Si me Darby Kramat Tin United Overseas Bonus Issue of 3 for
      248 words
    • Article
      COMPANY MEETINGS
      438 11 Ajinomoto (M) Bhd: AGM to be held at 6* miles, Sim-/ pane Satak. South Baharu Kuala Lumpur, at 9.00 a.m. on April 25. City Developments Ltd: AGM to be held at 24th Floor. Hong Lpong Building. 16, Raffles Quay, at 10.00 a.m., on April 27. Great Eastern Life
      438 words
    • Article
      EAC help for China
      93 11 THE East Asiatic Company is to help China modernise its external transport system, according to a company statement. Mr Mogens Pagh, the company's chairman and chief executive concluded an agreement with the Chinese Ministry of Transport last week. As a first step, the company will send
      93 words
    • Article
      Steamers
      51 11 STRAITS Steamship expects to maintain its present rate of dividend on its increased capital arising from its recent proposed scrip issue of one-for-four. Revealing this in its reply to the Stock Exchange of Singapore's query. Steamers adds that it will capitalise its share premium account to effect the scrip
      51 words
    • Article
      Sime
      53 11 SIME Darby Holdings has advised thajt U5529.4 million s*-i per cent convertible guaranteed bonds 1988 of Sime Darby International Finance N.V. have been fullv converted Into 19.845 million shares of lOp each which were listed on the KLSE on May 4 last year. The bonds were removed from the
      53 words
    • Article
      IEE
      41 11 INDUSTRIAL Electronics and Engineering has subscribed to a further million ordinary shares of SI each at par value in its subsidiary. Universal Electronics Corporation. The transaction was for cash. The move raises Universalis capital from $4.56 million to $6.56 million.
      41 words
    • Article
      Alexandra
      44 11 ALEXANDRA Holdings has informed the Stock Exchange of Singapore that It has subscribed for a further 100,000 shares of $1 each, fully paid at par in the capital of Multl-Agro Industries Sdn Bhd for cash. The paid-up capital of MAISB Is now $320,000.
      44 words
    • Article
      OUB
      32 11 OVERSEAS Union Bank and Overseas Union Trust have announced that beneficial ownership of their issued share capitals by foreign persons constituted 1.78 and 0.58 per cent respectively a.s at endMarch 197H
      32 words
    • Article
      Malayan Banking plans $150 m complex
      228 11 MALAYAN Banking is planning a complex costing about $150 million on its recently acquired 3.5 hectares of Court Hill to house its new head office. It ends years of search by the bank for a site to locate its head office, which is presently
      228 words
  • Page 11 Advertisements
    • Advertisement
      Page 11 Advertisements Column 1
      155 11 OFFICIAL NOTICE PtOPOSAI TO CHANCE OF SNIP'S NAME I, Edmund Lachlan Bjornsfelt Dorman of Harcourt House, Harcourt St, Dublin, Eire hereby give notice that in consequence of change of ownership I have applied to the Registrar of Singapore Ships, under Section 417 of the Merchant Shipping Act (Chapter 172, 1970
      155 words
    • Advertisement
      Page 11 Advertisements Column 2
      169 11 m®m) gold coin limited The audited results of the Group and the Company for the year ended 31st December 1977 are (figures in S$000):GROUP COMPANY The trading profit is stated after depreciation of 1.488 1.422 Thel976 taxation figures have been adjusted to the actual liabilities based on the 1976 profits.
      169 words
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  • Article
    Lock icon Execs see modest US growth
    331 12 Reuter THE US economy can be expected to post modest growth through 1979, a Conference Board survey found. The semi-annual survey of 45 financial executives of US companies found they expect real economic growth to average 4.2 per cent this year and 3.8 per cent
    Reuter  -  331 words
  • Article
    Lock icon Bonn will stand by its official target
    163 12 Reuter WEST Germany's leading economic research Institutes have predicted that the growth rate this year will be only about 2.5 per cent, but the government says it still stands by its official 3.5 per cent target. The report of the five major Institutes,
    Reuter  -  163 words
  • Article
    Lock icon Hint of Carter compromising on tax cuts
    819 12 NYT THOUGH President Carter is publicly standing firm against scaling down his proposals for a US$25 billion (Sss9 billion) tax cut for individuals and businesses, informed sources say Mr. Carter may have to compromise. Representative A 1 Ullman (Democrat-Oregon), chairman of the House
    NYT  -  819 words
  • Article
    Lock icon TREASURY ORDERS PROBE INTO DUMPING CHARGE
    452 12 AFP Reuter THE US Treasury Department has begun an investigation Into dumping charges against Japanese motorcycles. Motorcycles from Japan account for 97 per cent of all sales in the United States, according to 1976 figures. In the first quarter of this year their sales
    AFP; Reuter  -  452 words
  • Article
    Lock icon Small-scale projects urged as starters
    253 12 Reuter INDONESIA'S Industry Minister Abdul Rauf Suhud suggested yesterday that Asean industrialists should start with small-scale projects of their own under the industrial complementation programme. The minister was addressing the opening session of the fourth plenary meeting of the Asean Chambers of Commerce and Industry
    Reuter  -  253 words
  • Article
    LONDON STOCKS
    799 12 LONDON. Mon. Prices closed quietly firmer, with government stocks leading equities higher in light buying interest and on lack of sellers. Long-dated stocks gained up to 5 8 ahead of last Thursday's long 'tap' issue, while shorts firmed around 1/8. Leading equities firmed several pence in featureless trading.
    799 words
  • Article
    Lock icon Diamond surcharge
    59 12 Reuter THE Central Selling Organisation (CSO) will, until further notice, add a surcharge to the normal list of prices when It offers diamonds for sale. Surcharges will continue to be charged by the CSO until a reasobale relationship is restored between the market price of rough diamonds and
    Reuter  -  59 words
  • Article
    Now it's the $50m City Plaza for Geylang
    312 12 CITY Developments will build a $50 million shopping centre residential complex in Geylang. The project, City Plaxa, is expected to provide shopping services to a large section of the population in Geylang, Changi, Katong and Paya Leber. Spread over approximately two hectares
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    Lock icon Need for intra-Asia trade
    89 12 Reuter ASIA'S less developed countries need to look even more closely to intrareglonal trade to sustain their growth paths in 1978/79. Amex Bank, in its latest review, said this need arises because commodity price trends may not be so favourable in the period, while continued protectionist
    Reuter  -  89 words
  • Article
    Lock icon Philippine mining firms get tax break
    510 12 Reuter PRESIDENT Marcos signed a decree granting new tax Incentives to the mining Industry, the Philippine Internal Revenue Bureau announced. Under the new law, retroactive to Jan 1 this year, mining companies may accelerate deductions of exploration and preproduction development expenses up to 25
    Reuter  -  510 words
  • Article
    Lock icon No dollar talk, says Saudis
    209 12 UPI THE OFFICIAL Saudi press agency said an upcoming meeting of the Organisation of Petroleum Exporting Countries would not discuss the slipping US dollar, despite numerous press reports to the contrary. "It was learned that the two-day meeting will not discuss (oil) prices or the
    UPI  -  209 words
  • Article, Illustration
    Countries not so rigid on common fund
    442 12 DEVELOPED and developing countries have moved a step nearer to the creation of a common fund for commodities, the Malaysian Primary Industries Minister Datuk Amar Talb Mahmud said In Kuala Lumpur. Speaking on his return from the Commonwealth Ministerial meeting in London to
    442 words
  • Article
    Lock icon Australia-China trade shows dramatic upsurge
    548 12 AP SMARTING from lost markets in Europe and Japan, Australia is experiencing a dramatic upsurge in trade with China. At the same time, its trade with Taiwan is also increasing. Since the Labour Government recognised Peking in 1972, trade between the two countries has jumped
    AP  -  548 words
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      134 12 Don t let the language barrier stop you from wider f •.oi contacts I e W <VJ :>• AC tO \N to G^ X \e<* 1 o vl «v» 5- «>->- ,V> •iUriMT \e i Hrf v •if m? YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at home, while
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    SHIPPING TIMES
    4913 13 SCHEDULE A guide to ships loading at Singapore for Ports around the World The following list tabulates, by port of destination the name of the ship, the shipping line Involved, and the estimated dates of arrival and departure from Singapore port. SeanDatch haa a jelaft service arrangement with
    4,913 words
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      329 13 MAERSK UNE somes lu. m MY 2***** *****46 K LUMftW ***** PCMANC P. KELANC 3003*0 SHIPPING OCS MARINE FREIGHT MANAGEMENT SERVICE C°">) ?:22r> 7 6r* GewiUftirt OCS Pt« Ltd TH: *****14 I 2«221i Port Mfflf Affflt n Shipping Sdn BM T«fc *****5, 3175: Banfkofc Agent OCS Td: *****25 YAGUMA LINE
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      376 13 uteri m^ r vutf jt{ atitim* f. 304 305 3'flfi OccirSiOg Cotiyer Quay Spo e 1 Tel ***** ***** <2 i ine^i M liia l T rn iiM Afarts far P.T. i ETA ETD Dattinatio<> •M.V.BAHARI 10 May 14 May Ba«kpapan/Ban„rm«,n M.V. BAG US 7 May 11 May B'nusin/Samprt/Samarant/ **M.V.
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      90 13 NOTICES SINGAPORE/ WEST MALAYSIA/ WEST AFRICA FREIGHT AGREEMENT (ANGOLA/ CAMEROUN RANGE) (NIGERIA/ SENEGAL RANGE) NOTICE TO SHIPPERS General Freight Increase We refer to the Notice to Shippers dated 29 February 1978 concerning general freight increase to be implemented in the above Freight Agreement on 1 May 1978. Member Lines are
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      13 13 FORTNIGHTLY TO MIDDLE EABT SEA LAND MY REFRIGERATED CONTAINER SERVICE BOOKING TEL *****22
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      354 14 AGENTS ANGLO-FRENCH TRADING Singapore Ku»H Lumpur 03 *****4 03-*****7 B00lnna« *****1 1 *****89 Port K»t«ng *****1 3 CFS *****8/7/8 CfS *****86 T»rmin»l *****51 Pen»ng ***** 8 Ipoh 05-2663-4 SUMA a COPt NHAGFIVJ LINE EXPRESS SEMI-CONTAINER SERVICE TO EUROPE TRANSIT STRAITS/UK-CONTINENT 21/24 DAYS S'PORE P KELANG PNANG R OAM HAMB ANTW
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      817 14 I CZ SANKYO LINEI AUSTRALIA SERVICE P. Kola* Smpftn Loading for KYOTtK MARU 2«/29Apr 30 Apr/1 May FRE, ADEL MIL. STO MAY BREEZE 14/15 May 12/13 May BMS.SYD.MEL BANGLADESH SERVICE MAY BREE2E 21/29 Apr 25/27 Apr CHITTAGONG. CHALNA CONTAINER BOOKING LOAD AGENTS P KELANG PENANG OCEAN SHIPPING A ENTERPRISES PTE
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      602 14 SEA tLAND U.S.*./ ASIA SERVICE 'DRY REFRIGERATED CONTAWER ttWKE SAILING EICTT KPIWM FOR PORTS IN US ICMMM. CARIRKAN. JAM*. KOREA. TAMA*. HOW W«* WAIUBO AW PHILIPPINE! VESSEL/VOYAGE Vessel Arnwes/depar PONCE V-323 may 3/3 GATEWAY CITY V-696 .NAY 9/10 PONCE V-324 GATEWAY CITY V-697 May 23/24 Vessel c.f .S Closes Arrives/departs
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      976 14 A I Everett Tiiiesj X* t m. i runiMT. Bvnui Fhr» Star Shippwf Cwpn. "BURMESE NATIONAL LINE' k LOADING FOR RANGOON S.nppore muvmvurrm a/MA* B F SS C Agents in Moloyvo TEPS MALAYSIA Port Kelong Twl (3«)-73S5 Pwnong Tpl *****/***** /"'ARGENTINE NATIONAL LINE' LOADING FOR DURBAN CAPETOWN BUENOS AIRES HUM
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      640 14 M**** AUTAVW7) A ucvuaj 9 r&|/I u Mlf ivl u JARDINF AN I AH I Orient Overseas Co*Uai*ieA. Line FULLY CONTAINERISED SERVICE TO EUROPE (VIA SUEZ) i M/ 3 26/5 22/5 24/5 a/s */s a/s m/ 5 «/6 M l/( 11/ C 11/ i 13/1 15/6 17/1 »/i 22/6 M/»
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      1243 15 r\ QCL Overseas Containers Limited mcnuiiagiy soviet t» H'burg R'djm It S'ton S port P. KtUnf D'nurk Irtm. A werp Havre UK. MM ISM EXPRESS M Apr 1 *11 11 *r 8 »li» M tbj M» II M>r ttTMM MARU «M» 24Mar2BMr27Mr2BMar22Mr RBWLMN ur 12 Mar l» Mar II Mar
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      1318 15 Ben Ocean AjOßit&vxx of Ban Line, Blue ftimefGJen Late and NSMO TO W/CMTIMHT (ria (MA Lata pari P. U«| Penang Enrooa c m n Apr n/ti Apr n l smm. u.mcv n«il lENCRUACHAH 1/ 3 May 7/ I Mar 4/ I Mar I J.M Bilbao. Amsterdam, rbarg. Dublin, Liverpool. PATROCLUI
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      847 15 BEN LINE LIMITED H-Wtc IHAVEN R'DAM HAVRE SO I. Germany' Austria Franca All Standmavi* IMM 11 Mm 11 MM II MM II llrnt 11 Mae 12 (II MM) 14 J II Jkm II MM 11 MM (a MM) lIJ 14 Mm II J«m 17 Mm llmm n I M lUK
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      1063 15 Scan Dutch V EXPRESS CONTAINER SERVICE VIA SUEZ WESTBOUND TO MED/UK/ CONTINENT/ SCANDINAVIA Inm P. mini Vessel S'ien U Mse'Hes X Mw s Hkari 4) Skwi fiancesca a/4 uaitu 1/s 11/1 a/ i d/i i«/ 5 FRANCESCA 1/ NTUMM 11/1 W S M/ I 1' I V ELEAHORA 11/ I
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      593 15 GUTHRIE BOUSTEAD SH,PP,NG AGENCIES THE BANK LINE LTD LMB milt AFRICA FMTVM IIU (Minritin, h*iM, Darin, 1.1., P£, c«p«to«m; p Keiam MM/I JM !hti 21/21 I nm urn savn vmu nummumnu <w« M>M( S port M| |/2T J LAMU UN Penjni P. Mlanf a/11 May Spot. express service mkct nm
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      894 16 "K" LINE ■7T7TTTTI m FILLT CONTAINERISE! SERVICE II EUROPE (VIA SUEZ) Sport P. Kola* L«J»rt H"buf| Bremea CHEVALIER PWL IIW 21 Apr M Apr May 21 May 23 JJT NEPTUNE CORAL 7W 4 Bar May 21 May 21 May 21 May NEPTUNE PEARL 17 May II May >J"« CHEVALIER ROK
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      902 16 E. C.-H. Jt. I ATLANTIC/GULF SERVICE nunm fci/ici cmiiikb im rim. uuw. nuai LialMf Mr: NORFOLK. MEW YMOR. NEW Mil IRS, MVSTM. Singapore P. Relang Penal* "VISHVA OHARMA" (MISI SCI) 10/10 May 11/» May 11/« M*» "1 E.C./GREAT LAKES SERVICE LtaOiag tW: NORFOLK, ME* TIM, MOHTREAL. TORONTO. ASNTAOULA, OETOOIT. MICAOO.
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      1184 16 NEPTUNE ORIENT LINES LTD 'FULLY CONTAINERISED SERVICES: I EOT OPE (VIA Mttzr S'pore P. Ket»| S'hampto* H bwg NEVALIER PARU 21 Mf A#r I*** 21 *»T B EPTIME CNAL 4 Hit JKif »»l» 8 EPTVNE PEARL 17 Hay 11 May 4 Jaw llw HEVADER RUE 23 Hit n Raj 11
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      719 16 r—•-! MALAYS/AM INTERNATIONAL SHtMNG CORPORATION BEHHAD TEL- A HIH4. EXPRESS FULLY CONTAINERISED SERVICE TO/FROM MED/UK/CONTINENT/SCANDINAVIA f. Kilmj Vhml S'tore 1) mtiliM 29 Mm 3) Hburf 4) Ctar* a/ 4 umui t/i tt/i i/i a/i m/i •/1 iutuumia 11/1 w t a/i t/i tl/ I Ml. Min 21/ I 1/ I
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      740 16 INTRASEA (PTE) LTD 1 Hoii- r .vH O'CM-cI T.'Kt Tflf-nhun" h' I -I lEMLAI IMEPEMEMT SOII/rtU. CWUMEI W»« atm t P telane Penana LM<i< Mr: M.V. IN VINAV M.V Kim —I iinSnc aecis mwmik anay a May r+m/u*— 'Utum nm|t r»/i far aatar M S port P. Kl»«| It Mt
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