The Business Times, 29 April 1978

Microfilm: NL9628
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    11 1 BUSINESS TIMES M.C.(P) No. 218/1/78 SATURDAY, APRIL 29, 1978 50 CENTS
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  • BRIEFLY...
    • Article
      Hot cakes
      54 1 BANKS and stockbrokers yesterday said they distributed some 120,000 application forms for 20 million shares at SI.OO each In SBS. The Development Bank of Singapore, which manages and underwrites the Issue, said It will continue to provide the forms until the closing date on May 12. No multiple
      54 words
    • Article
      Lock icon 'No change' signal
      58 1 Reuter. LONDON, Frl. Applications for UK Treasury bills at the top accepted rate of 6.9992 per cent received about 89 per cent, signalling an unchanged 7.5 minimum lending rate under the normal market formula. Last week, applications at 6.9992 per cent received about 11 per cent and
      Reuter.  -  58 words
    • Article
      Lock icon Oil imports down
      71 1 Reuter. PARIS, Fri. OECD net crude oil Imports in fourth quarter 1977 declined to 308.5 million tonnes, down 2.6 per cent from the fourth 1976 quarter. OECD statistics show that the decline was compensated for by an 8.8 per cent rise in production which allowed stocks to
      Reuter.  -  71 words
    • Article
      Lock icon Conference proposal
      61 1 Reuter. TOKYO, Fri. Japan is proposing to hold a conference of foreign ministers with member countries of Asean in June. A Foreign Ministry spokesman said that Japanese Foreign Minister Sunao Sonoda was hoping for such a conference of foreign ministers to take place in Bangkok following the forthcoming
      Reuter.  -  61 words
    • Article
      Bearing fruit
      66 1 JAKARTA, Fri. Regulations Introduced last October to streamline foreign Investment here are starting to bear fruit, a spokesman for the Indonesian Investment Coordinating Board (BKPM) said today. Mr. Anwar Ibrahim, the board official dealing with planning and promotion, said that all but five of 645 pending applications had
      66 words
    • Article
      UK mission in
      48 1 A 13-MEMBER trade mission from the Walsall Chamber of Commerce and Industry will arrive today for an eight-day visit to promote British products. The mission, led by the chamber's director Mr. N.E. Turner, include representatives from British firms dealing in a wide range of products.
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    • Article
      CoL moderates
      33 1 rl Japan's cost of living in fiscal 1977, which ended March 31, rose an average 6 7 per cent compared with 1976, or below the government projection of 6.9 per cent.
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    • Article
      Lock icon Straits scheme
      55 1 Reuter KUALA LUMPUR, Fri. Indonesia, Singapore and Malaysia are striving to implement as soon as possible the traffic separation scheme for the Straits of Malacca and the Singapore Straits. The acting Minister of Foreign Affairs, Datuk Seri Hamzah Abu Samah, said early implementation of the scheme would reduce
      Reuter  -  55 words
    • Article
      Lock icon Dow Jones
      79 1 UPI NEW YORK, Fri. Profit-taking and a glum government report on the cost of living helped send stock prices lower today in early trading. Turnover was active but at a less steaming pace than that of recent sessions. The Dow Jones industrial average added to its loss of
      UPI  -  79 words
  • Chief Price Changes
    • Article
      In Singapore yesterday
      123 1 Rises Most active API Spore Land Dvinlop Est 228 170 338 +26 +20 18 Haw Par Spore Land SPPL 513,000 174,000 157,000 150,000 Berjuntai OCBC 755 660 +10 10 Sin Chew FAN 458 10 Total Turnover 4.81 m 11MW 155 10 Total Value: $8.23 m Pefi 470
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    • Article, Illustration
      In Kuala Lumpur
      154 1 Rises Most octive Castlefleld SLand Utd Mai API Dun lop Est Sg Best F and N M Tobacco Berjuntal D Keramat A Hltam(Tln) 14.50 1.76 4.58 2.27 3.40 5.70 4.-74 6.60 7.80 8.60 8.80 +1.90 .25 .22 .19 .16 .15 .10 .10 .10 .10 .10 Haw Par
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  • Article
    Tokyo builders' winning formula
    1039 1  -  GOOD TRACK RECORD COUNTS By COLIN CHEE THE RECENT award of the $155 million contract for the main passenger terminal building at the new Changi Airport to Takenaka Komuten Company underscores what seems to be the competitive edge Japanese contractors have over their local counterparts. Not
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  • Article
    Govt help for locals?
    532 1  -  By SIVA ARASU THE SINGAPORE Government can help local contractors to_ build up their technical skills and financiart'esources by devising a method that will ensure them sufficient opportunities to compete successfully for projects that are within their capacity. However, in the case of giant-sized projects like
    532 words
  • Article
    Lock icon US trade deficit with Japan peaks
    470 1 Reuter. UPI THE US March trade deficit with Japan rose to a record US$l.O9 billion (SI2.S billion) from $973 million In February. The previous record deficit was $1.04 billion in January, and in March, 1977, the deficit with Japan was $565 million. US exports
    Reuter.; UPI  -  470 words
  • Article
    Asean agrees to set up regional commodity clubs
    223 1 ASEAN has decided to establish regional commodity clubs to accelerate intra-regional trade. The commodity clubs, similar to the existing industry clubs, will also serve as a platform to establish joint approaches to trade with non-Asean countries. The decision to establish commodity clubs
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  • Article
    Facility is likely to take after US Exim
    472 1  -  By SOH TIANG KENG THE PROPOSED scheme to provide long-term finance for Singapore exporters and manufacturers is likely to be modelled along the lines of the US Export-Import Bank (Exim). Such a scheme, according to manufacturers and bankers, is certainly a plus
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      24 1 H LANIER COURIER the perfect secretary.... 5" high 2Va" wide lOoz. wt. works 24 hours a day and never grumbles Soto AgantDON RAT. TW*****8/53T163
      24 words
    • Advertisement
      Page 1 Advertisements Column 2
      91 1 I •1 A Braun Synchron Plus Braun's Synchron Plus. For the man who must have a closer, smoother, faster shave than any other shaving system can give. The exclusive features of this shaver include: Tissue-thin super-flexible electro-formed nickel foil. Has unique pattern of cutting holes and slots. Platinum-coated to give
      91 words
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      Page 1 Advertisements Column 3
      76 1 KL in tin venture with Boli- NAGGING fear of plywood invians 2 dus try 7 SINGAPORE a super port in FORUM: Long-term planning 7 •I.T 5 DUNLOP MsisysU lots of CONSULTING the stars in b0unce................... U PiRiTP Y 8 GOLD Coin is scintillating 11 PIRATE imports of cosmetics TOKYO trade
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      Page 1 Advertisements Column 4
      3 1 SEE PAGE 2
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      Page 1 Advertisements Column 5
      234 1 Everett Lines fOt THE MOST FREQUENT SAILINGS TO BANGKOK HONGKONG •JAPAN PUSAN Everett Steamship Corpn. S/A LEADER ..PAGE 6 Information for busy executives mm rv; m ASEAN textiles; new Filipino and Malaysian attitudes to rural development The latest issue of the ASEAN Business Quarterly contains, inter alia, a survey of
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  • TRADE AND INDUSTRY
    • Article
      Lock icon Tokyo surplus revised upwards
      676 2 Reuter. JAPAN'S March trade surplus rose to US$3.l3 billion (557.2 billion) from 52.34 billion in February and $1.56 billion in March last year. The Finance Ministry said In a revised report the figure was up from the preliminary $3.10 billion announced earlier this month. The revised
      Reuter.  -  676 words
    • Article
      Lock icon Jobless rate hits a 22-year high
      266 2 UPI. DESPITE the Japanese government's business stimulus measures, unemployment in March rose to a 22year high. Mr. Sakonshiro Inamura, director general of the Prime Minister's Office said on Friday that a monthly labour force survey shows 1.41 million Japanese were out of work last
      UPI.  -  266 words
    • Article
      Striking a balance in pollution control
      347 2  -  ■y JOHN LIM IT WILL be impossible to eliminate pollution if Singapore is to achieve economic development at the desired rate. This being the case, the question is to what extent should Singapore exercise controls and yet achieve its environmental objectives, said the Minister
      347 words
    • Article
      No smoke in your eyes
      447 2 MORE THAN 300 major pieces of air pollution control equipment have been installed by industries In Singapore. This was disclosed in a paper by Mr. Tan Guong Ching, higher executive engineer of the Anti-Pollu-tion Unit, at the two-day seminar on Pollution Control and Environmental Conservation
      447 words
    • Article
      Lock icon Mindanao palm oil venture
      94 2 Reuter BRITISH and Philippine Interests will establish a 126 million pesos palm oil Joint venture on the island of Mindanao, to be operational late this year. Dunlop International will hold 30 per cent of the equity, with the majority shared among the Philippines Liberty Mines, Imperial
      Reuter  -  94 words
    • Article
      Raleigh bicycles
      49 2 MR. R.W. HILL, technical sales manager of SturmeyArcher of the UK, will be In Singapore on May 3 to conduct a sales clinic for about 20 bicycle dealers here. Sturmey-Archer of Nottingham manufacture hubs for the Raleigh range of bicycles. The Local agent is Teskay Trading Co.
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    • Article, Illustration
      It mushroomed ...
      166 2 It mushroomed THIS 68-floor octagonal building, erected by employing two construction techniques developed by an Australian company, is the tallest building in Australia. The Mutual Life and Citizens Assurance Centre in Sydney is 244-metre tall and is built as part of the redevelopment of a city block. It includes a
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    • Article
      Lock icon Fujitsu and Siemens in sales tie-up
      320 2 AFP FUJITSU LTD., Japan's top computer maker, plans to market its super large computers In Western Europe through the SAS network of Siemens AG. West Germany's largest electronic machinery maker. Industry sources In Tokyo said the two companies have agreed to conclude a tie-up
      AFP  -  320 words
    • Article, Illustration
      NZ sacrificed on the altar
      365 2 NEW ZEALAND Prime Minister Robert Muldoon said on Thursday if the European Common Market goes through with its threat to clamp tight restrictions on lamb imports from his country, It will be disastrous for US and damaging for Britain." "This is economic life and death
      365 words
    • Article
      Lock icon INDIA'S FIRST SURPLUS IN A DECADE
      218 2 AFP INDIA'S export earnings during the 11 months from April 1977 to February 1978 totalled 48 billion rupees (about SSI4 billion) as against 45 billion rupees in the similar period last year. A press release issued by the Foreign Trade Department here on Thursday
      AFP  -  218 words
    • Article
      Bolivians in tin venture with KL
      408 2  -  •y A. KADIR JASIN MALAYSIA and Bolivia are expected to finalise negotiations on the proposed tin mining venture In Bolivia soon. Bolivian sources disclosed In Kuala Lumpur that an agreement might be signed between Pernas and Comibol. Bolivia's stateowned mining corporation, before June. A
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    • Article
      MEMO PAD
      268 2 DATE TITLE VENUE ORGANISER COURSE AND TALKS April 24May 13 Middle Management Course SITC SITC April 27, 28 and 29 April 30May 2 Personnel Management Workshop Hilton Consulasla Corporate Survival in the 80s Melbourne ICS A, Australia May 3 May 3-4 Marketing Now Assessment and Development Programme Hilton
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  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      151 2 a o u o o v> o o stRU l\ VA\ v\u s > J s 4 t > r *> t'V 7 tf# w <»/ \U« This book comprises a mouthwatering selection of over 200 recipes for all the family. It is illustrated throughout in colour, with step by
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      619 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 4 Quietly repeated on TV (6) 7 French sea song by a trader (8) 8 One man is a beau (6) 10 Curt when the change Is wrong?(s) 13 Old-fashioned violin piece (4) 14 Dance with Hal going madly round the bend (4) 15 Catherine
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  • OVERSEAS
    • Article
      Lock icon Accord on Canada's private mark placement
      449 3 Reuter C AN AD A has reached an agreement with Deutsche Bank for a private placement In Oermany of 1.5 billion marks(Ssl.6 billion). The Finance Department said the borrowing includes 600 million marks of fiveyear, 4 3/4 per cent notes to be placed by
      Reuter  -  449 words
    • Article
      Lock icon Upturn is not likely to be sustained
      358 3 Reuter. CANADIAN Imperial Bank of Commerce said the generally declining trend of Its leading indicator makes any sustained upturn In the Canadian economy appear unlikely within the next 12 mopths. The bank reported a 0.01 per cent decline in the indicator in February
      Reuter.  -  358 words
    • Article
      Uranium for India
      226 3 PRESIDENT Carter authorised on Thursday the sale of 7,600 kilogram of riched uranium to India, saying he was confident the material would be used only for peaceful purposes. The fuel was earmarked for India's Tarapur atomic power station under arrangements worked out before recently enacted US legislation
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    • Article
      Lock icon No to credits
      430 3 AP THE Carter Administration opposes expanding government credits for agricultural eroorts and extending credit to communist customers that do not allow free emigration of citizens. A State Department official said on Thursday this was unexpected because of wide support within Congress for legislating those moves and the
      AP  -  430 words
    • Article
      Lock icon Mexico to haul officials to court on smuggling charges
      425 3 AP. GOVERNMENT prosecutors in Mexico City said on Thursday a decision was expected soon to take coffee institute officials to court on charges of complicity in a coffee smuggling and US$lO million (5523.5 million) tax evasion scheme. Mexican Coffee Institute director
      AP.  -  425 words
    • Article
      Lock icon Tax gang-up on Labour Party
      548 3 Reuter THE DECISION by Britain's Liberal Party to support a Conservative Party bid for an Income tax reduction proposed by Chancellor of the Exchequer Denis Healey, poses an acute economic and political dilemma for -the minority Labour government, political sources said. Government ministers would regard
      Reuter  -  548 words
    • Article
      Lock icon PAY DEAL HOPE
      178 3 Reuter. unionist® do not want to rule out the poesibility of a new pav agreement with the government, Lord Allen, chairmen of the Tradee Union Congress (TUC) economic committee and general secretary of the Shopworkers Union,said. In statement on the ere of the Shopworkers Union annual conference.
      Reuter.  -  178 words
    • Article
      Lock icon Sign of further Fed tightening
      527 3 Reuter FEDERAL funds rates rose to 7% per cent without any Intervention by New York Federal Reserve Bank. Dealers said this convinced most market participants the Fed has undertaken further tightening of policy. They said yields on Treasury bills increased rapidly and bond prices are
      Reuter  -  527 words
    • Article
      Lock icon Oil hike opposed
      337 3 AP THE US Senate Finance Committee on Thursday opposed action by President Carter to force energy conservation by sharply raising the price of imported oil. By an 11-6 .vote the committee contended Imposition of a stiff fee on oil imports would cost consumers US$l2 billion to US$l5
      AP  -  337 words
    • Article
      Lock icon Ministers fail
      548 3 AFP AGRICULTURE ministers of the European Common Market (EEC) have failed to agree on farm prices for the 1978-79 season. After a four-day session, they decided on Thursday to adjourn their debate and tackle the questions again on May 8. Experts in Luxembourg, where the meeting was held,
      AFP  -  548 words
    • Article
      Lock icon Sharp boost for inflation
      183 3 UPI. INFLATIONARY pressures received a sharp boost In France on Thursday with the announcement that the cost of living Index In March jumped 0.9 per cent and the government warning that prices will keep rising in the coming months. Simultaneously the Finance Ministry said the March
      UPI.  -  183 words
    • Article
      THE LAST WORD IN JAMES BOND CARS?
      222 3 IT HAD to come. Yet another revolutionary'' car. The makers Aston Martin, one of the James Bond supercars. Called the Aston Martin Lagonda, the car is almost totally made by hand and, like any other utilitarian product manufactured today, you can bet that
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    • Article
      Lock icon Lance group ordered to halt attempt
      414 3 UPI A US federal Judge on Thursday ordered former Budget Director Bert Lance and his group of Arab princes and foreign and American businessmen to halt temporarily their efforts to gain secret control of a US$2.2 billion (Sss billion) bank holding company. Acting on
      UPI  -  414 words
    • Article
      Inflationary?
      43 3 THE Council on Wage and Price Stability criticised US legislation to limit sugar imports as inflationary. A staff report said the proposed Sugar Stabilisation Act of 1978 would raise the price of sugar from 13.5 cents per half kilo to 17.5 cents.
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    • WORLD IN BRIEF
      • Article
        Lock icon UK FINANCIER IN CUSTODY
        520 3 Agencies. BRITISH financier Gerald Caplan is being held by federal authorities on Los Angeles at the request of Scotland Yard on a charge alleging that he embezzled £2.4 million (5)10.3 million) from his former British securities company. A spokesman for the Federal Bureau of Investigation (FBI)
        Agencies.  -  520 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      188 3 SOUTH-EAST ASIA DEVELOPM ENT CORPORATION BERHAD NOTICE TO SHAREHOLDERS Your Directors are pleased to announce the audited results of the operations of the Company and of the Group for the year ended January 31,1978 as follows:— 31.1.78 31.1.77 Company Group Company Group tm wm —fro wm Turnover 1,981 2,318,509 1,672
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER
      441 4 OPENING quotations here were marked down fractionally yesterday following easier London advices and prices then advanced In slow trading on a reserve of sellers. However, some fresh forward offerings caused a hesitant undertone later. Volume was small. The morning session closed steady with May One RSS
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    • Article
      RAS PRICES
      320 4 Prices In cents per kilo yesterday: Noon (per kilo) Close (per kilo) Int. 1 R.S.S. prompt f o b. Int. I 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. 4R.S.S. UK/Cont. Int. 5 R.S.S. UK/Cont. Buyers 205.50 206 25 206.50 200
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      SSR AND SMR
      105 4 NOON SSR and SMR prices yesterday: HAS May June (Current Mth) (Forward Mth) Buyers Seller* Buyer* Seller* (cenu |i •r kg) (cent* per kf) SSR 20 (1-ton pallet) 198.00 200.00N 199.00 201 00N SSR 50 (1-ton pallet) 196.00 198 00N 197.00 199 00N MRELB SMR5CV (1-ton pallet)
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      Palm oil
      84 4 C.I.F. North European ports. In US dollars per ton unless otherwise stated. LONDON: Thunday Previous Malaysia 5% (fa bulk per tonne 595 sir June 575 sir Sumatra 5% ffa bulk April unch 665 sir May 625 sir 630 sir June 587.50 sir 800 sir July 572.50 sir 587.50
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    • Article
      Closing prices
      30 4 Rubber: April 28 Singapore: May 206.75 cents (up 0.50 cent) Malaysia: May 211.50 cents (up 0.25 cent) Tin: 11,551 (down ($4B) Official offering: 238 tonnes (down 27 tonnes)
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      Hongkong comex
      184 4 THE SUGAR market yesterday eased 0.10 to 10.15 US cents in quiet trading, with 23 lots traded against four on Thursday. Dealers said activity was confined to evening-up of spot May positions, which expired yesterday. bpot May has net open positions of 23 lots after Thursday's trading. The
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      SPOT PRICES
      197 4 YARN and cotton In Hongkong dollars, spot ex-godown Cotton Yarn: China Blue Phoenix 20s 1.750. 32's 2.050. 40s 2.160(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 Inches
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      Produce exchange
      419 4 PRICES all held steady In quiet trading on the Singapore produce market yesterday. Overseas Inquiries were confined to the coconut oil sector where South Korean traders were asking for crude coconut oil. Conditions in the copra and coconut oil sectors were still steady stemming from firm conditions In
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    • Article
      Coffee
      420 4 ROBUSTA futures ended the opening call In London yesterday about steady £3 to £12 per tonne up from Thursday night. Turnover was 250 lots. Commission house and local-dealer buying pushed spot May up to £1,523 before closing the opening session £3 higher at £1,520. Dealers said gains were largely
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      Sugar
      273 4 THE LONDON daily raw sugar price fell £1.50 to £101.50 while the white sugar price fell £1 to £109 yesterday. On Thursday, sugar futures closed £1.35 to £1.80 per tonne higher in a turnover of 2,158 lots including 14 options. Main feature oi tne afternoon was the late liauldation
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    • Article
      Soybean
      157 4 CHICAGO soybean futures surged higher in a late rally that took nearby contracts to the day's highs as the market posted gains of 15 to 3% US cents a bushel on Thursday. Sellers were reserved at the opening and limited buying interest firmed prices. However, the volume of trading
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    • Article
      Rubber price gains two cents
      218 4 THE ADVANCE of the Singapore and Malaysian rubber markets In recent weeks was extended a further four cents in more active and volatile conditions to finally register a net gain of two cents in the week ended April 27. Softer sterling advices and steadier markets
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    • Article
      Straits tin
      264 4 THE STRAITS tin price in Penang yesterday fell Ms4B per plcul to $1,551, $51 above the International Tin Agreement ceiling. Dealers attributed the fall to a lack of consumer buying support and easier conditions in London on Thursday. Turnover dropped to 238 tonnes from Thursday's 265 tonnes. In
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    • Article
      Lead
      63 4 LEAD prices were mostly £0.50 down In London yesterday. Prices gave ground on the pre-market following the decline In copper but the lower levels found shortcovering support prompted by Inquiry for good quality metal, dealers said. Three Months traded down to £310.50 on the premarket but recoveretf to £313.50
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      Cocoa
      224 4 TERMINAL cocoa in London came under modest selling pressure in late session closing at around the lows of the day in all positions except near May on Thursday. Prices were £0.50 up to £40 down from Wednesday night. Turnover totalled 2,462 lots including 898 lots crossed and 15 options.
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      Rice
      203 4 BANGKOK rice prices were quoted as follows yesterday: (In US dollars per tonne f.0.b.. basis Bangkok) White Rice: 100 pet lit class 422. 100 rn 2nd class 427. 100 pet 3rd class 422, pet 413. 10 pet 400, 15 pet 392. 20 pet 387 25 pet 377 35 pet
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    • Article
      Wheat
      105 4 WHEAT futures posted gains of 2'/, to 4'/i US cents a bushel but finished about two cents off the day's highs in Chicago on Thursday. After some initial weakness, prices headed upwards in early trading and gained about three to five cents helped by professional buying and commercial spread
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    • Article
      Copper
      345 4 COPPER wlrebars in London yesterday finished the morning session and trading for the day showIng losses of mostly £8.50 per tonne. Dealers said the pre-mar-ket declined under com-mission-house liquidation in the absence of fresh physical demand prior to the long May Day holiday weekend. The decline continued Into the
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    • Article
      Silver
      189 4 SILVER on the London, Metal Exchange rose by mostly 1.4 pence per troy ounce on Thursday. The afternoon market was steady in line with the trend in US futures although business remained at a low ebb. Three Months closed at 280.6 pence. The overnight gains at New York and
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    • Article
      Gold
      483 4 THE KILOBAR in Singapore yesterday opened at 5512,908 and closed at $12,806. In the loco/London market, the metal opened at US$l7l.OO/30 and closed at U*****.80/ 170.10. The London morning gold fix was US$l7O,OO, 10 cents up on the previous fix. Source: Sinjm»s Retail prices per tael quoted by the
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    • Article
      Zinc
      57 4 ZINC on the day fell by £5 for cash and £4.50 for Three Months in London on Thursday. This metal was quiet during the afternoon with light two-way trading around the lower levels. The morning market lacked fresh physical interest and values declined under stale bull liquidation and hedge
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    • MONEY AND EXCHANGE$
      • Article
        Singapore market
        420 4 THE US dollar was traded thinly in the foreign exchange market yesterday. Traders were cautious. The dollar, however, showed large swings against the yen and the deutschemark. Against the yen, the dollar opened at a low of 221.80/00. But morning trading brought it up by two yen to
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        Asian $ & CD rates
        212 4 Asian CD rates ASIAN currency deposit interbank rates as at close on April 28: I'S Dollar* (Spot I Offer Bid 7 days 1 mth 2 mths 3 mths 6 mths 8 mths 12 mths .7 3/8 7 1/4 ..7 7/16 7 5/16 .7 11/16 7 9/16 ..7 3/4 7 5/8
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        Australia/NZ
        58 4 AUSTRALIA and New Zealand exchanges on April 28: AUSTRALIA US dollar 1.1386/1.1338 Sterling 0 6237/0.6183 Ninety-day air mall buying rates: Sterling 0 6417 US dollar 1.1686 Nirtety-day forward buying rates: Sterling 0 6201 US dollar 1 1353 NEW ZEALAND: Sterling 0 5558/0.5927 US dollar 1 0204/1 0104 Ninety-day airmail
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        Discount
        34 4 I.I.UM M.\A offered by d KilMnWivTHTTWriWTrii H ill B 1 to 3%% Call deposl 3-Month Kll It 31 B III s tW Cloaiac uvinf Sellin* I ft ii/a Source: National Discount Co Ltd.
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        MLR
        21 4 THE average rate at which Singapore banks are currently prepared to lend to tfcfeir best customers is 7 per cent.
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        Zurich
        60 4 ZURICH exchanges closing quotes on April 27: US 1.9420-9435 Stg 3 5481-9498 Can 1.7189-7208 D Mk 93 8618-9797 O F1 87 8054-9529 F Fr 42 1899-2684 B Fr 6 0124-0198 D Kr34 2807-3193 N Kr 35 9230-9574 S Kr 42 0346-0808 Ut 0 2239-2241 Aui sch 13 0257-0449 Port
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        Treasury bills tender
        78 4 RESULTS of tender held yesterday for 91-day, 182-day and 273-day bills: tl-day bill* 182-day bill# X7V4ay bill* ta ht Inwd fria May S M Mart (•bataaaadaa Marl «>Ujl OfhrW: S30.000.000 S10.000.000 SIO.OOO.OOO AnlMbr; S77.SOO.OOO S43.000.000 S5S.500.000 AMUMi: S30.000.000 S10.000.00S 'sio.soo.ooo Acea»«a4Wfe: SW 20 approximately 85%. hicher bid*
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        London
        185 4 HELPED by Federal Reserve Bank signals in New York on Thursday of tighter US monetary policy, the dollar yesterday gained against leading currencies in moderately active endweek opening trading. It moved up to 1.9380/9400 Swiss francs, a clear centime higher than early rates, extending .the gain from 1.9250/9300 overnight,
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        New York
        216 4 THE DOLLAR closed around its lowest levels of the day against major currencies on Thursday. The US currency came under considerable pressure in the morning following its lower close In Tokyo, and there was good commercial demand for currencies other than the dollar, particularly marks, dealers said. Trading
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        Tokyo
        163 4 THE US dollar for overnight delivery yesterday closed higher at 223.90 yen, after a 221.50 opening and compared with 223.60 at Thursday's close. Trading was heavy with volume US$5OB million dealers said. The dollar fell sharply to a low of 221.30 yen in early trading, reflecting its overnight weakness
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        Hongkong
        143 4 THE FIRMING of the US dollar in late active trading yesterday was attributed by some dealers to firming Eurodollar rates in Singapore ahead of the weekend. The dollar closed around 2.0645/55 marks compared with the opening 2.0615/30, and at 223.10/30 yen compared with the morning's 222.80/223.00. Against sterling It
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        Euro $ rates
        162 4 Euro rates LONDON Eurodollar deposits yesterday opened generally firmer in quiet trading following the rise In US Federal funds and Treasury bill rates, dealers said. One Month was adjusted 5/16 lower to 7V4, 7% per cent on the loss of a Fridayend technicality. Periods bet#een Two Months and One Year
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        Frankfurt
        47 4 FRANKFURT exchanges opening quotes on April 28: US 2 0630/49 2 0680/99) Can 1.8300/80 8 tg 3 780/790 D PI 03.43/00 8 Ft 106.00/K U t 2 383/383 r Fr 44.85/49.00 N Kr 38.30/40 B Fr (con) 8.408/418 B Ft (fin) 8 40/41 Yen 0 9240/90
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      Page 4 Advertisements Column 1
      133 4 o* c study with Wdsev Hall OXFORD Institute of Administrative Management Institute of Bankers Inst of Chartered Secretaries Administrators Inst of Statistic ans London Chamber of Commerce Industry HSC/GCE A Level MCE/SCGCE 0 Level London/AEB GCE A O' Levels Modern Mathematics for Teachers Foulks Lvnch LONDON Ass of Certified Accountants
      133 words
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  • TRANSPORT
    • Article, Illustration
      A FIRST CLASS PORT IN THE MAKING
      1058 5  -  By CHAN BONG SOO SINGAPORE is going into containerlsation in a big way to service her growing international trade and further broaden her Image as a major world port. Over the next five years, the Port of Singapore Authority (PSA) is to spend
      1,058 words
    • Article, Illustration
      SHIPS IN PORT
      297 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Altair (0530 hauls after Fairstar) 46 Cherry Vllja (1500 48 Feng Yang (1900 after Oktyabrskaya Revolutsiya) 1/2 Foo Chow (2000 25/26 Ibn Khallikan (0600) 38/39 Korean Mail (0600 after Altair hauls) 47 Lumut (0600) 20 East Nedlloyd Napier (0600) 3/4 Solar Peak
      297 words
    • Article
      Lock icon Air Siam is bent on a comeback
      264 5 AP AIH SIAM is determined to get its licence back despite a recent comment by Thai Prime Minister Kriangsak Chamanand that he favoured only one national airline. Air Slam, which flew the Bangkok-US route, ceased operation when its licence was withdrawn by a
      AP  -  264 words
    • Article
      Lock icon Tokyo-Peking flights up
      293 5 AFP, AP CHINA and Japan have agreed to increase their regular air flights between Peking and Tokyo from two each a week to three, starting yesterday, the Japanese Transport Ministry said. Under the agreement. Japan Air Lines (JAL), will start an additional flight on the Tokyo-Peking route
      AFP,; AP  -  293 words
    • Article
      Lock icon London freight
      158 5 UPI MOST business was shrouded by a veil of secrecy, signalling a firm market. As a result little fresh fixing came to light. In the Far East, unspecified charterers booked the 26,200 dwt Menlna Alice at U553,350 (557,705) per day for an April, May trip from Japan to
      UPI  -  158 words
    • Article
      Lock icon IT'S NOT CUSTOMARY
      70 5 Reuter. AIR passengers arriving In Paris this weekend will probably miss customs checks because of a strike by customs officers. The strike call, In support of Increased travel allowances, was Issued by the communlst-led COT union, which represents 60 per cent of the 800 customs men at
      Reuter.  -  70 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      713 5 ARRIVALS Sorrira Operator Number Loral Time Fna CAL MAS CI333 MH501 M MAS MH682 0725 KCH SIA SQ101 0815 KUL MAS MH621 0840 PEN MAS MH607 0645 KUL MAS MH671 0945 PEN/KUL CPA CX710 1005 HLP CAL CI814 1000 HLP RBA BI323 1025 BWN OLA OA 980
      713 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      229 5 Mathematics and Statistics Statistics in Action: Peter Sprent This book is intended to interest the general reader who wants to become familiar with this subject, as well as a prelude to further study and a complement to formal elementary textbooks for those who wish to go to statistics in more
      229 words
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  • Article
    Speed is essential for success
    468 6 IT IS fervently hoped that the export financing scheme announced on Thursday by Dr. Tony Tan will materialise soon. After all, Singapore exporters are the seasoned victims of countless dreams and schemes which are thought up by all sorts-of wellmeaning people, and then submitted through
    468 words
  • Article
    Businessmen must give the impetus
    226 6 THE SUCCESS of Asean's first trade fair to be held in Manila next month will almost entirely hinge on the ability and willingness among private entrepreneurs to seize the opportunities that may present themselves there. The stage for such a development looks well set, and
    226 words
  • Article, Illustration
    Dadi consults the stars
    780 6 AT LEAST one businessman in town consults the stars before making major decisions. If your number is "hostile" to his, according to the science and numerology, he will never be able to secure that contract, or get that job with him. Astropahnist and chemist Dr. Dadi
    780 words
  • Article, Illustration
    Agents upset by beauty pirates
    897 6  -  By PETER CHIA MAJOR distributors of perfumes and cosmetics are complaining of an influx of unauthorised imports of genuine products over which they have sole distribution rights. This could be the result of the Government's abolishing duty on cosmetics, perfumes and toiletries in August last
    897 words
  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      681 6 m sinoapura FORUM HOTEL AOMMmalMv Cli Milll lilt MS Orchard Rood, S'pore 9. Tel: *****2 SINGAPORE 406/407 Havelock Road, S'pore 3. Tel: 432M1 Pebble Bar Experience the unique expression of Tanla Oreat Sound Big Show You'll love the dynamic and versatile Tanla For memorable yester hits and today's favourites. Only
      681 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      68 6 IWEATHERi L J WEATHER outlook for Singapore from 6 a. m. to noon today: Isolated showers around late morning Report for 24 hours prior to 7.30 p.m. on April 28 at the airport. Maximum Temperature 30.4° C Associated Humidity 68 Minimum Temperature 23.4° C Associated Humidity 99 Hours of Sunshine
      68 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      311 6 TV&RADIO SINGAPORE 5 1.00 PM Opening announcements followed by Sesame Street 1.55 Classic Keystone comedy Capers 2.10 Saturday Matinee Until They Sail Starring: Jean Simmons, Paul Newman, Joan Fontaine, Piper Laurie, Sandra Dee 3.40 Police Surgeon Portrait Of Florenza 4.05 Soccer Malaysia Cup '78 Singapore vs Perak (Repeat) 0 5.00
      311 words
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  • Article
    War games behind closed door
    533 7 DEEP In the part of the Pentagon in Washington reserved for the Joint chiefs of staff is a security door emblazoned with a military crest little known outside the building. Its heraldry Includes two chess boards and a. computer component. Behind the door, 51 specialists
    533 words
  • Article, Illustration
    A trying period for plywood industry
    1394 7  -  By A. KADIR JASIN in Kuala Lumpur THE CLOSURE of Eidai (a major plywood manufacturer in Japan) due to poor performance, early In the year has caused fear and uneasiness among plywood manufacturers In the Asian region. Although circumstances surrounding the collapse of Eidal's
    1,394 words
  • Article, Illustration
    Male legs go on show
    345 7 A WELCOME and creative diversion from all those female cheesecake shows at company functions all 145 of the hardy male staff at Deutz (Far East) will be showing a leg in a "Mr. Beautiful Legs" contest at the Deutz Annual Sports Club and Dinner, in
    345 words
  • Article
    Try long-term planning
    1058 7  -  FOBUI r ...on economics h A ■y HOCK LOCK SIEW SINGAPORE'S managers and economists rarely believe In long-term planning. It Is far away and makes us too susceptible to a whole range or externalities beyond our control, they say. Corporate and economic planners often cite two Bromlnent
    1,058 words
  • Page 7 Advertisements
    • Advertisement
      Page 7 Advertisements Column 1
      309 7 HOTEL ASIA 37 Scotts Road, Singapore 9 Tel: *****8 CHEQUERS HOTEL 418 Thomson Road, Singapore 11 Tel: *****/7 HOTEL EQUATORIAL 429 Bukit Timah Road, Singapore 10 Tel: ***** GARDEN HOTEL 14 Balmoral Road, Singapore 10 Tel: *****44 GOODWOOD PARK HOTEL 22 Scotts Road, Singapore 9 Tel: *****1 HOTEL GRAND CENTRAL
      309 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Page 7 Miscellaneous Column 1
      39 7 BriStoW-:Frai3jcl)ictos oeceNT or lou to STp*fc> W£, lunch D»miONS I'D LlKe pv WHlTfe. COUPS SfiE£**L puEßse y U)KP\T 00 N/OO FFShCy p OJHFNT OH GARTHS TVABT \T'S Tne Clerical €jQUIVPHj£NT OF p> PIOOCpHprWS LUNCH. &OUJL6& SOUP RND Pf POTRTO
      39 words
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  • INTERNATIONAL STOCKS MARKETS
    • Article
      Lock icon Blue chips stronger
      628 8 TOKYO Source: DBS-Daiwa. THE Nikkei Dow Jones average went up slightly in the morning yesterday and was higher In the afternoon, as blue chips strengthened towards the close. With the three-day national holiday week and the JapanU.S. meeting approaching, a wait-and-see mood prevailed over the market. Only
      Source: DBS-Daiwa.  -  628 words
    • Article
      Lock icon Hongkong
      409 8 Source: San Hung Kai Sec Ltd. FOLLOWING the announcement of a per cent rise In the prime rate and the subsequent marking down of prices In London, the local market opened quietly but with only small selling orders. As most Investors know that little borrowing Is done at prime,
      Source: San Hung Kai Sec Ltd.  -  409 words
    • Article
      Sydney
      231 8 APR 28 Cents INDUSTRIALS A C. I 175 A.N. 140 A P. M 120 Ampol Pet 83 B.H 654 Bank NSW 538 Boral 243 Brambles 180 C B A 245S C.S. 293 Coal Allied 385 Dunlop 140 Ex.Ind 210 Herald 232 Hooker 75 *3 -I -2 M -6 ♦3
      231 words
    • Article
      Manila
      96 8 APR 2» Pesos Acoje Mining 0078 -0 0002 Atlas Con A Atlas Coil B. 13.30 -0 4 Bagulo Gold 0062 -0 0004 BenguetCon B 21 00 ►0.5 BF Goodrich CDCP 18 50 f 1.3 Inco B LepantoB 13 unch Marlnduque B 3 66 -0 44 Meralco 7 00 unch
      96 words
    • Article
      Bangkok
      134 8 APR 28 Bahts Asia Fibre 250 +3 Bangkok Bank 375 unch Bangkok Invest 360 Bangkok-Metro-politan Bank Bata BerliJucker 740 >272 CarpetIntnl Charoong Thai Wire 276 -7 Dumex DusltThanl Faber Merlin First Trust Genera Finance Indo-Thal Industrial Finance Corp 2505 unch J And J Ho Jalaprathan Cement 282 unch Karnasuta
      134 words
    • Article
      Zurich lively and higher
      518 8 FA R'U'EAS MA RKFJX FRANKFURT share prices closed mixed after some earlier demand was cancelled out by general lack of buying Interest on Thursday. In cars BMW rose six marts after the company said It proposed raising capital to 500 million marks from mo milium mainly
      518 words
    • Article
      Frankfurt
      210 8 APR 27 Dm Aer-Telefunken 85 80 -fl.l Akzo 23 70B Allz Leben 615 ♦2 Allz Vers 455 -4 BASF 134.90 -0.7 Bay HT Wbank 278 -1 Bay Vbank 297 unch Bayer 136 10 -08 BBC 286 50 +0.5 BMW 225 Cassella 361 >1 Chem Verw 237 Commerzbank 222 iO
      210 words
    • Article
      Amsterdam
      235 8 APR 27 Fls ABN 350 50 1.5 a hold 98 10 -0.1 Akzo 25 50 -0.1 AMEV 83 10 -0 7 Amfas 107 00 -1 Amrot Bank 74 30 -0.2 Bergoss 55 50 -0.1 Berk 88 00 -1 Hols 67.50 -1.5 BorsumlJ ***** -1.5 Burhmann 67.20 -0.5 Byenkorf 85
      235 words
    • Article
      Paris
      282 8 apr n Fr» CORBEILLE Air-Liquide 301 80 -11.4 B S N Gervals Danone 475 -18 CSF (ThomsonCsC) 235 IS Cie Francalse des Petroles 127 unch Compagnle Financier? Compagnle Generate 365 -5 Credit Fonder De France 339 ♦4 Hachette (Librairie) 179 70 -2.2 Machines Bull 36 80 +0 85 Mlchelln(B)
      282 words
    • Article
      Zurich
      180 8 APR 27 rranca Action* Suisse* 203 ♦2 AlusuisseBr 1130 40 Alusulsae Keg 506 ♦J Brown Boverl Br 1540 25 ClbaOelgy Br. 1135 *15 Clba Gelgy P C Clba Gelgy Ret «2* Credit Suisse Br 2150 ♦60 Credit Suisse Kef 410 unch Elektrowatt Br 1590 10 George Fischer Br 855
      180 words
    • Article
      Brussels
      93 8 APR Fn FORWARD MARKET Acec 275 ♦4 Arbrd 2180 -40 Astur 700 -44 Brascan 468 +3 Bru-Lamb 1595 -S Canpac 528 -4 Cock 372 5 I> Beers 158 unch Fbes 2490 +20 Electrobel 6590 80 Ob-Inno-Bm 2190 10 Gev 1408 -2 Hobok 2450 -95 Petro 4235 -15 Ryl Dutch
      93 words
    • Article
      Milan
      105 8 APR Zl Ure Ante 92 -1.25 Assoc Gen ***** -260 Bastogi 403 -17 Centrale 3415 -50 Flat 1896 -16 Finslder 75 50 +0.5 Gen Immob 74 75 -2 25 IFI Pn 2054 -25 Italcementl ***** -200 Italgas 629 1 Italsider 137 25 -2 75 M.ignpti M Pf 440 -4Marelll
      105 words
    • Article
      Holiday Inns spreads its network
      738 8 ALREADY the world's biggest hotel chain. Holiday Inns is aiming for a substantial expansion of Its network outside the US during the next few years. By 1981 the Memphis company's international division plans to have some 280 hotels open or under construction, an increase of
      738 words
    • Article
      Jo'burg
      373 8 OOLD shares were mostly higher In moderate trade although some marginal Issues were off the top prior to the rise, reflecting an easing In bullion on Thursday. Financial minings were unchanged to higher with OFSA 5<J cents up at 1 925. Elsewhere, D* Beers shed seven to 563 on
      373 words
    • Article
      Market slams the brakes
      1083 8 NEW YORK THE stock market slammed the brakes on its powerful rally, as investors cawed in on their pronts and drove prices down sharply across the board on Thursday. The market's downturn widened in the afternoon when the Federal Reserve allowed another quarter-point rise to 7
      1,083 words
    • Article
      Toronto
      251 8 SHARE prices closed sharply and broadly lower In active trading on Thursday. The composite Index was off nearly eight points and losses outnumbered gains 237 to 215. Twelve sub-groups fell and five recorded double-digit Index declines. Westeel-Rosco jumped 5% to 21H and Jannack B' climbed to 16*.: Jannock Is
      251 words
    • Article
      Selected indices
      63 8 FINANCIAL TIMES INDUSTRIALS Thursday 467.8 Wednesday 457,8 Week Ago 454.8 DOW JONES AVERAGE INDUSTRIALS Thursday 82^92 Wednesday 838.97 Week Ago 814.54 LONDON DOLLAR PREMIUM Thursday 108* to ***** Wednesday 109* to 109* H.K. HANG SENG Friday 466.23 Thursday 456.02 Week Ago closed SYDNEY INDUSTRIALS Friday 418 89 Thursday
      63 words
    • Article
      Lock icon Way to central market filled with hurdles
      870 8 Reuter THE arena called Wall Street is continuing to wrestle with the shape of the coming central market system as Washington looks on. No one expected the path to a central market, u*usally described as an electronic linking together of the various exchanges,
      Reuter  -  870 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      161 8 The Foulks way means 1. Studying with the largest established firm of accountancy tutors in U.K. 2. Enjoying the benefits of over 90 years of tutorial expertise. 3. Being informed of the latest changes and current events and topics of interest and relevance through the exclusive "Foulks Lynch Review". 4.
      161 words
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  • COMPANY NEWS
    • Article
      Lock icon Mobil better on foreign oil
      541 9 NORTH AMERICAN Reuter 5U681L Corp said foreign -.energy earnings rose in the ■first quarter while domestic -energy earnings slipped. "'The company said foreign energy net profit was USSI4B million, up from $110 million a year earlier, arid benefited from new condensate production from the Arun
      Reuter  -  541 words
    • Article
      Lock icon Ford hit by higher material cost
      378 9 Reuter FORD Motor Company reported lower profits for the first quarter as a result of higher labour- and material costs. The country's number two ranked car maker said the decline also reflected a less profitable mix of vehicles for its North American operations. For
      Reuter  -  378 words
    • Article
      Lock icon Xerox indications good and solid
      232 9 Reuter XEROX Corp said in reporting a 15 per cent rise in first quarter earnings that results were about as anticipated and indicate a solid start on another good year in terms of both revenue and profits. The company reported net rose to $1.31 a
      Reuter  -  232 words
    • Article
      Lock icon Airline raises dividend hopes
      221 9 Reuter. EASTERN Airlines, buoyed by record passenger business in March, said its first quarter profits were the highest of any three-month period in its 50-year history. The company said it also hopes to resume payment of a dividend as soon as possible. It has not paid
      Reuter.  -  221 words
    • Article
      Lock icon New goods help Matsushita tide over
      287 9 ASIAN Reuter. TOKYO: Matsushita Electric Industrial Co Ltd expects about a 3 per cent increase in its net income for the business year ending next Nov. 20 from last year's U***** million on an increase of about 6 per cent in sales from $7.78
      Reuter.  -  287 words
    • Article
      Lock icon PROFIT AT NBH GOES DOWN
      241 9 Reuter. UNAUDITED estimated consolidated net profit at North Broken Hill Holdings (NBH) fell to A 55.61 million in the nine months ended March 31, 1978 compared with $6.25 million lyEstimated mining profit was $2.90 million (2.94 million on production value of $32. 24 million (30.54
      Reuter.  -  241 words
    • Article
      San Miguel
      53 9 MANILA: San Miguel Corporation, makers of Philippine beer, ice cream and soft drinks, reported total sales of 2,811 million pesos (US$3BO million) for 1977. In an annual report to stockholders, company president Andres Soriano Jr. said the firm recorded net profits for the year amounting to more than
      53 words
    • Article
      Lock icon US steel looks better ahead
      215 9 Reuter. US Steel Corp production levels are recovering and productive efficiency is returning to more acceptable levels, chairman Edgar Speer said. He said strikes are now behind the company and non-steel operations were profitable in March. The coal fields strike, the lingering effect of a
      Reuter.  -  215 words
    • Article
      Lock icon Star Wars bring in the money
      192 9 Reuter. AIDED by the box office successes of a number of motion pictures. Including "Star Wars," Twentieth Century-Fox Film Corporation reported sharply higher profits for the first quarter of the year, but said results for the full year probably would not match the 1977
      Reuter.  -  192 words
    • Article
      Philips India up despite odds
      359 9 BOMBAY: Growth in pretax profits at Philips India, the multinational with a base in Holland, has been seen for the second year in succession, in 1977. Profits before tax rose by 32 per cent from R5.68.5 million in 1976 to R5.90.8 million. (US$lO.B million) in
      359 words
    • Article
      Lock icon BP sharply up
      151 9 Reuter SYDNEY: The British Petroleum Co of Australia Ltd reported Its audited 1977 consolidated operating profit rose sharply to A 528.98 million from $2.38 million on revenue $710.65 million (605.42 million). After extraordinary profit of 512.91 million, (loss $14.97 million), company showed a turnaround to a $41.89
      Reuter  -  151 words
    • Article
      Lock icon Unilever poised for economic upturn
      411 9 EUROPEAN Reuter LONDON: The Unilever Group said It expects 1978 to be a difficult year, but with Improving efficiency It is well placed to take advantage of any upturn in economic conditions. Unilever Ltd and NV combined profit before tax in 1977 fell to €550
      Reuter  -  411 words
    • Article
      Lock icon Profitability up at Hawker Siddeley
      256 9 Reuter. LONDON: After tax group 1977 profit at Hawker Slddeley was £50.6 million (48.4 million) including profits at companies now nationalised of €4.5 million (13.7 million). Sales were £912 million (974 million) Including companies now nationalised £83 million (242 million). Earnings per share were 26.1
      Reuter.  -  256 words
    • Article
      Siemens
      60 9 HANOVER: Siemens AG expects moderate order and turnover growth but sees no noticeable upturn In the economy in the next few months. A company spokesman, speaking at the Hanover Fair, said there was no clear sign the improved domestic capital goods demand seen at the beginning of the year
      60 words
    • Article
      Lock icon Flick has major stake
      194 9 Reuter. DUESSELDORF: The Hick Holding company Friedrich Flick Industrieverwaltung Kgaa now has a de facto 51 per cent stake In the Gerllng Insurance Group through Its majority holding In Versicherungs Holding der Deutschen Industrie GMBH (VHDI). A Flick Kgaa spokesman said the majority stake still requires
      Reuter.  -  194 words
    • Article
      Lock icon Floating gas plant for Iranian firm
      132 9 Reuter. OSLO: Kvaerner Industrler A/S has signed an agreement In principle with the national Iranian Gas Company to build a 3.5 billion crown floating plant for purification, condensing, storing and shipping of liquid natural gas from Iran. Kvaerner managing director Carl Roetjer said the
      Reuter.  -  132 words
    • Article
      Lock icon British Steel may break even
      166 9 Reuter. LONDON: The British Steel Corporation (BSC), Britain's biggest corporate loss-maker, said It might be able to break even by April 1980. A BSC report for the British Parliament revised the corporation's original deficit forecast of £520 million for 1978-1979 down to £440 million. But
      Reuter.  -  166 words
  • Page 9 Advertisements
    • Advertisement
      Page 9 Advertisements Column 1
      443 9 from Penguin J <; f .S Virginia Woolf died in 1941 and at the time of her death she had won a foremost place in English fiction. Three Guineas and Flush have now been published in Penguins and both will find a wide and passionate audience. Three Guineas magnificently argues
      443 words
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  • DEALS DONE ON THE SES AND KLSE
    • Article
      In Singapore
      1443 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
      1,443 words
    • Article
      Government bonds
      110 10 S 1/4% 18/10/79 250,000) (101.308 101 60S) S 3/4% 1/4/78-80 250.000) (101.15B) 4 3/4% If/9/80 (250.000) (100.258 100.408) 5% 15/VBI (250,000) (100.058 100.758) 5% T r 1/8/83 250,000) (100.458 100.558) 7% IV4/86 (250.000) (100.908 101.058) 7 1/4% 18/4/80 (250,000) (100.70B) 7 1/4% 1/8/87 (250.000) (100 70B) 7 1/4%
      110 words
    • Article
      Stock options
      304 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. Cold Storage (June 81.70) (0.498 0.578). (Sept 81.70) (O.SIB 0.018). C and C (June 82.20)
      304 words
  • Article
    Unit trusts
    148 10 SINGAPORE UNIT TRUST INCOME BOND UNIT (Manager*' prtem The Commerce tar May 1) INCOME BOND 1 04 1.10 1.97 2.09 The Saving Fund S pore Prog Fund 1.16 1.23 0.M 0.M MARA BUMIPUTRA FUND iMaaanra' arlM tar Ma* 1 S pore Security Kind S pore Invest Fund 1.81
    148 words
  • Article
    SHARE INFORMATION SERVICE
    2452 10 Gr'i Gr'g Net 1978 Company Last Sale Div Div Y'ld P/E Vol Day High Low +or- C'vr COOO) Hick Low SECTION ONE INDUSTRIALS 181 132 Aetna 170 1 12. ON 1.8 7.0 10.0 4 170 170 213 123* Alcom 202 10.0 2.2 4.9 14.9 150 112 Allied
    2,452 words
  • Article
    In Kuala Lumpur
    1643 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 l ,000 units unless otherwise speindustrials AJ.noi.iato U. 248 2.3U8) XALL. A.earn (I.Blb 1.828) (9) 1 81
    1,643 words
  • Article, Illustration
    More rises than falls
    785 10 SINGAPORE GAINB extending beyond 10 pa; cent were recorded by •hare* that were liultd oat for support in selective and mixed trading on tbe Stock Exchange of Singapore yesterday. On tbe other hand, selling pressure in other counters brought them lower by as much as 44
    785 words
  • Article
    KLSE trading selective
    724 10 KEEN demand In isolated counters resulting In substantial price appreciation was the most prominent feature In an otherwise quiet and selective market. Prices overall closed on a slightly steadier note at the Kuala Lumpur Stock Exchange yesterday. Traders were generally cautious In view or the long weekend
    724 words
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  • COMPANY NEWS
    • Article, Illustration
      Sparkling profit leap of 39 pc at Gold Coin
      948 11  -  By OUR REPORTER IMPROVEMENTS In production and marketing efficiency appear to have helped Gold Coin to present exceptionally fine results for the year ended Dec 31, 1977, with group pre-tax profits taking a 38.5 per cent leap to $8.4 million from
      948 words
    • Article, Illustration
      Dun lop expansion to pay off
      1120 11  -  By SUSAN THAM AFTER a steady growth in 1977, indications are that Dunlop Malaysian Industries will continue to "make good progress" in spite of a somewhat gloomy picture worldwide. This forecast was made by DMl's managing director Tunku Dato Ahmad Yahaya in his latest
      1,120 words
    • Article
      CHICAGO BOARD OPTIONS
      1450 11 April 27 TRADING on the Chicago Board Options exchange came to 149,573 contracts on Thursday compared with 204,030 on Wednesday. OPTION JLY OCT JAN STOCK Alcoa 40 61/4 6 3/4 7 3/4 45 7/8 Alcoa 45 21/2 35/8 UNTRD 45 7/8 Alcoa SO 11/2 7/8 21/2 45
      1,450 words
    • LATEST RESULTS
      • Article
        Cycle and Carriage Bintang:
        33 11 Group pre-tax profit $8.99 million ($6.74 million) for the half year ended March 31. 1978. Group turnover $76.14 million ($56.86 million). Interim dividend seven per cent (six per cent).
        33 words
      • Article
        Textile Corp. of Malaya:
        44 11 Group after-tax profit of $756,268 for the year ended Dec 31, 1977. For the nine months ended Dec 31, 1976, group after-tax profit was $697,782. First and final dividend of five per cent (3.75 per cent for the nine months).
        44 words
      • Article
        South East Asia Development Corp.:
        31 11 Group pre-tax profit $4.61 million ($3.31 million) for the year ended Jan 31, 1978. Group turnover $2,318 million ($2,110 million). Final dividend 25 per cent (same).
        31 words
      • Article
        Malayan United Industries Bhd:
        29 11 Consolidated pre- tax group 1977 profit M 5156.700 ($273,400). Parent company pre-tax profit $53,800 ($67,100). Comparative figures were adjusted reflecting a change in accounting methods.
        29 words
    • Article
      COMPANY MEETINGS
      83 11 Olympia Plywood and Timber Bhd: AGM to be held at 9 m.s. Pandal Tanjong Kllng. Malacca, at 12 noon on April 29. Bedford Plantation* (M) Bhd: AGM to be held at Chartered Bank Chambers. Beach Street. Penang, at 12 noon on May 3. Carlsberg Brewery Malaysia Berhad: AGM
      83 words
    • Article
      Malaysian Feedmills
      40 11 IN an article on Malaysian Feedmills Farm which appeared on April 27, it was erroneously stated that the consideration paid for the purchase of land at Lim Chu Kang was $140 million. The correct amount is $1.4 million.
      40 words
    • Article
      DIVIDENDS ANNOUNCED
      744 11 Currant Ek Books Dal* Total far IMto payment Date flsss payable tha roar pndMx United M.W. Lou 4 25%<g) May 29 Apr 10 Apr 30 8W% Tasek Cement (Ord.) 7'.%I Apr 5 Apr 17 Apr 30 7W% 12W% Taaek Cement (Pref.) 7'.%I Apr 5 Apr 17 Apr 30
      744 words
    • Article
      SCRIP ISSUES
      251 11 Company Particular* E* Date Book* Cloae Bau (M) Berhad Consolidated Bonus Issue of 1 for 3 Apr 20 May 3 Plantation* Bonus Issue of 3 for 1 Apr 21 III Kempaa (M) Bonus Issue of 1 for 4 Apr 21 Sime Darby Bonus Issue of 1 for 1
      251 words
  • Page 11 Advertisements
    • Advertisement
      Page 11 Advertisements Column 1
      126 11 GROUP FINANCIAL CONTROLLER The position requires an outstanding man Capable of working with international project management team and able to negotiate successfully at all levels. A Chartered Accountant, preferably with a minimum ten years substantial experience preferably in international engineering and contracting and, in particular, able to take control of
      126 words
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  • Article
    Lock icon Not time yet for Swiss to relax tough measures
    223 12 Reuter SWITZERLAND will maintain tough measures to keep out unwanted foreign capital until the foreign exchange value of the Swiss franc drops back to more realistic levels. Swiss National Bank president Fritz Leutwller said at the bank's annual meeting In Berne
    Reuter  -  223 words
  • Article
    Lock icon Talks to pave way for Bonn summit
    263 12 Reuter. JAPANESE Prime Minister Takeo Fukuda will be in Washington from May 1 to 3 for talks with President Carter and Members of Congress. The White House announced on Thursday the Prime Minister's visit would be the latest In a traditional series of
    Reuter.  -  263 words
  • Article
    Lock icon DEVELOPING COUNTRIES SEEK MORE CLOUT
    1118 12 Reuter DEVELOPING country members of the International Monetary Fund (IMF) are pressing for more influence within the agency through an increase In their quota allocations which would also raise their voting strength, monetary sources said in Mexico City. The first general discussions on this issue
    Reuter  -  1,118 words
  • Article
    Lock icon New IMF chief
    138 12 Reuter. FRENCH Treasury director Jacques de Larosiere will become the next managing director of the International Monetary Fund, monetary sources said in Mexico City. Mr. de Larosiere is currently there as part of the French delegation to the IMF interim committee meeting. Following the meeting he is
    Reuter.  -  138 words
  • Article
    LONDON STOCKS
    763 12 LONDON, Frl. Government stocks today closed up to 1/2 point higher following the unchanged minimum lending rate and slightly higher sterling. Dealers said shares closed mixed with an easier bias after the rally In leading lndustlrals faded on lack of Interest ahead of the long weekend. At 3
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  • Article
    Drop in Japanese steel shipments
    155 12 JAPAN'S shipments of steel products to the United States has decreased during the past two months largely because of the US trigger price mechanism, the Japan Iron and Steel Federation announced on Friday. The federation said Japan's exports of steel products to the US In
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  • Article
    Lock icon Stiff EEC stand on tariff cuts
    534 12 AFP. Reuter. THE European Economic Community on Thursday hardened its stance in the multilateral trade negotiations (MTN) in Geneva by formally tabling a list of "possible withdrawals" of previous tariff cut offers. The EEC delegation made it clear that cuts In customs duties proposed
    AFP.; Reuter.  -  534 words
  • Article
    Lock icon Replacing dollar is wishful thinking
    991 12 CURRENCY COOPERATION VITAL UPI Reuter. THE president of Switzerland's National Bank Fritz Leutwller, said on Thursday It is wishful to think that US dollar could be replaced as the world's reserve currency. European nations as well as the oil-producing countries cannot restore exchange rate stability
    UPI; Reuter.  -  991 words
  • Article, Illustration
    Visit of Japanese trade and industry minister
    281 12 THE Japanese Minuter of International Trade and Industry, Mr. Toshio Kohmoto, will be visiting Singapore from May 2 to 4 as put of his one-week whirl, beginning on Sunday, of the three Asean countries Indonesia, Malayaia aad Singapore to help cement ties between
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  • Article
    Lock icon JAKARTA ALUMINA PLANT
    123 12 AP NEGOTIATIONS between the Indonesian government and the West German company Klockner to build a US$43O million (SS99O million) alumina plant will be concluded in June. A spokesman for the Indonesian Mining and Energy Ministry said yesterday, the plant, to be built on Bintan Island south of
    AP  -  123 words
  • Article
    Lock icon OECD optimistic of Australia's continued pickup
    599 12 UPI. Reuter AUSTRALIA'S slow economic recovery will definitely continue in the coming months, but the authorities must retain a tight rein on wages, the Organisation for Economic Cooperation and Development (OECD) said yesterday. In an annual report on Australia, experts of the 24nation organisation
    UPI.; Reuter  -  599 words
  • Article, Illustration
    Lock icon Marcos-Mondale agenda
    227 12 UPI PRESIDENT Marcos will discuss military and economic as well as human rights Issues with US Vice President Walter Mondale during his visit to Manila next week. Government sources said on Friday Mr. Mondale will visit Manila on May 2-4 on the first stop of a tour that
    UPI  -  227 words
  • Article
    Morgan stake in Kuching bank soon
    182 12 FLEET Print Bhd, the holding company of the New Straits Times group, will sell 30 per cent of Its interests in Blan Chiang Bank of Malaysia to Morgan Guaranty Trust Company of New York. Bian Chiang Is a small Kuchlng-based commercial bank with a
    182 words
  • Article
    Indicators delay
    71 12 THE US Commerce Department said its reports on the index of leading Indicators for March and first quarter foreign trade on a balance of payments basis, scheduled yesterday, have been delayed until Monday. No reasons were given for the postponement. The Department also said sales of retail outlets
    71 words
  • Article
    Nissan surveys sites in US
    127 12 A DELEGATION of Nissan Motor officials arrived In Detroit on Thursday to begin an "advanced feasibility study" for locating a Datsun manufacturing plant In the United States. The group of 12 experts will stay for about two months inspecting a number of sites and will
    127 words
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