The Business Times, 3 May 1978

Microfilm: NL9690
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 WEDNESDAY, MAY 3, 1978 50 CENTS
    11 words
  • BRIEFLY...
    • Article
      Lock icon Nagasaki wants Concorde
      65 1 Reuter. TOKYO, Tuea. The governor of Nagasaki said today he would seek central government permission for the Concorde to make regular flights Into the city's airport. Governor Kanlchl Kubo said the airport was built on reclaimed land and thus the supersonic airliner would pose minimal noise problems.
      Reuter.  -  65 words
    • Article
      Lock icon Show and sell
      68 1 Reuter. MANILA, Tues. Four specialised Philippine trade shows held in Japan, Canada, the United States, and Manila have earned the country some US$B.5 million (5119.5 million) the Trade Department reported today. The Tokyo exhibition last year concentrated on leather goods with $6.45 million orders while a furniture
      Reuter.  -  68 words
    • Article
      Lock icon Oil barter
      67 1 UPI. TOKYO, Tues. Japan wants to barter Alaskan oil for the West Asian crude It Imports as a step to reduce its trade surplus, government sources said yesterday. The Japanese hope to import a maximum of 180 million barrels of Alaskan oil about onetenth of Japan's annual oil
      UPI.  -  67 words
    • Article
      Lock icon Another Taching
      71 1 AFP. HONGKONG, Tues. China has struck oil in the South China Sea which promises to be another Taching (its biggest oilfield), according to Canton Radio today. "Wotiurs of the South China Sea Petroleum Survey Command have discovered industrial oil and gas deposits in the South China Sea." The
      AFP.  -  71 words
    • Article
      Lock icon Uranium find
      82 1 AFP TOKYO, Tues. Japan's Power Reactor and Nuclear Fuel Development Corporation announced here today It has discovered two untapped concentrations of uranium ore In the Western African Republic of Mall. Mall may become a vital uranium supplier for Japan. The state-run corporation had been looking for uranium deposit
      AFP  -  82 words
    • Article
      Lock icon Two standards a day
      60 1 AFP. GENEVA Tues. The International Organisation for Standardisation hopes to have completed 8,000 standards by 1980 as against 3,500 at present and 700 10 years ago, it said today. Some 100,000 experts In Industry, science, consumer bodies and other organisation take part In the task of
      AFP.  -  60 words
    • Article
      Lock icon Full support
      50 1 AFP. MANILA, Tues. US Vice-President Walter Mondale today said Asean and the Philippines' role In this regional grouping have the "full support" of America. In his brief arrival remarks in Manila, Mr. Mondale said the US looks forward "to Intensifying our relations with the Asean at all levels."
      AFP.  -  50 words
    • Article
      Lock icon Dow Jones
      66 1 AP. NEW YORK Tues. The stock market turned downward In the morning. The Dow Jones average of 30 industrials fell 4.76 to 839.57 in the first half hour. Losers took a slight lead over gainers but trading remained active. The market's forward momentum seemed to have slowed with
      AP.  -  66 words
  • Chief Price Changes
    • Article
      In Singapore yesterday
      123 1 Rises Most octive Jardlne* API MtftChm 265 271 158 +63 +43 +35 Sigma Metal Haw Par SPPL 474,000 399,000 308.000 Tan Ckong 8PPL Sigma Metal Utd Malacca 308 118 153 430 15 13 11 10 Spore Land 293,000 Total turnover: 7.17 m Total Value: $11.26 m Spore
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    • Article, Illustration
      In Kuala Lumpur
      159 1 Rises Most active A.P.I. 2.75 +.48 API 745,000 E.A.I. 2.30 .38 Haw Par 484,000 Mega 1.82 .36 Mega Chem 385,000 OCBC 0.85 +.15 Talplng Texl. 320,000 Matsushita 3.66 +.12 UtdMal 4.70 +.12 Total Turnover: 5.47 m U M Works 1.72 +.11 Total Value: M810.27 m 8 Land
      159 words
  • Article
    High-flying days ahead for SIA
    956 1  -  FORECAST OP $34M PROFIT By TERESA LIM SINGAPORE Airlines expects to continue its strong recovery trend in the current year with net profit forecast at $34.6 million. However, this Is still below the $35.35 million earned In 1974/75 before profits went on the decline In
    956 words
  • Article
    Lock icon Thais slap ban on rice exports
    239 1 Reuter THE THAI government has decided to impose a temporary ban on rice exports pending the outcome of a survey on rice stocks In the country. Commerce Minister Nam Poonvathu said yesterday the move aimed at assessing the amount of rice available for domestic
    Reuter  -  239 words
  • Article
    Danish firm to set up $5m factory here
    626 1  -  ly PETER CHIA in Copenhagen A DANISH manufacturer of plastic containers, Rostl Plastic, Is planning to set up a $5 million factory in Singapore with a local partner. Mr. Mlkael Olufsen, Rostl's managing director, said the company has to establish a manufacturing
    626 words
  • Article
    LONGER TRADING
    176 1 THE BTOCK Exchange of Singapore la extending Its trading session by one hour to 4% hours from next Monday. Trading hours will be from 9.30 to 11 a.m., 11.15 a.m. to 12.30 p.m. and 2 p.m. to 4 p.m. Commenting on the new hours, the chairman of the
    176 words
  • Article
    Jardines stages strong comeback in local market
    323 1 THE SHARE price of Jardine Matheson (Southeast Asia) moved sharply higher on the local stock market yesterday in its first day of trading after the suspension imposed in midApril at the company's request. The first deal was struck at $2.66, 64 cents higher
    323 words
  • Article, Illustration
    Pertec eyes S'pore for its computer plant
    467 1  -  •y SOH TIANG KENG THERE Is a fair chance that Singapore will have its first computer plant by the end of the year. Mr. Ryal Poppa, obairman of Pertec, a US firm making small ibid mediumsized computers revealed here yesterday that Singapore Is
    467 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      29 1 whatever you need in menswear,get it at... MOHAN'S DEPT. STORE (PTE) LTD. 321, Orchard Road "W *****22 (next to Mandarin Hotel) Branch: 101,Tangiin Shopping Centre W *****40 Daily :9am-9pm
      29 words
    • Advertisement
      Page 1 Advertisements Column 2
      56 1 BIRKART FREIGHT NEWS WE HAVE MOVED EFFECTIVE IST MAY 1978 WE ARE AT: SUITE 1004, 10TH FLOOR CPF BUILDING, 79, ROBINSON ROAD SINGAPORE 1 TELEPHONE: *****66 (6 LINES) TELEX: RS ***** (AB: JOBISEA) BIRKART SOUTHEASTASIA PTE LTD Suite 1004, CPF Building 79 Robinson Rood Singapore 1 Tel. No: *****66 (6
      56 words
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      Page 1 Advertisements Column 3
      66 1 rasa: SHIPPING TIMES TIMBER mlm rise J FORUM: Moaay aa PEOPLE In business 2 incentive 7 t SEAL takes a pluaf. 11 SINGAPORE tnair— g mumi in SEACORP wtifki in with Saudi Arabia 6 hamper U THE 1978 tourist* invasion 7 EEC hmmh, look to Aaonn 12 MEMOPAD 2, CROSSWORDS
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    • Advertisement
      Page 1 Advertisements Column 4
      227 1 Coot healthy pollution-free driving with AmAßuenu COOL. MASTER .CAR AIR CONDITIONER 5-11 COLDMM.L PLAZA. SINGAPORE U TEL *****2 240. LAVENDER STREET SIWGAPOPPI2 TEL 2564 M HUM I Which logos is the right business calculator fi)r you? Olivetti Logos. A range of calculators designed to do more hard calculating work than
      227 words
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  • TRADE AND INDUSTRY
    • Article
      A whole new ball game for natural rubber
      468 2 A BRIGHT future has been predicted for natural rubber by Professor Edward W. Duck, formerly of the International Synthetic Company. During a recent visit to Malaysia, Prof. Duck stated that Standard Malaysian Rubber has opened up new vistas for natural rubber In
      468 words
    • Article, Illustration
      TEAMING UP FOR BIGGER CATCH IN S.CHINA SEAS
      465 2 SINGAPORE is among several South-east Asian nations cooperating in the South China Seas Fisheries Development Programme which is aimed at coordinating research into methods for greatly Increasing the region's catch. Part of the research under this programme includes the mechanisation of fishing
      465 words
    • Article
      SLIGHT RISE IN TIMBER SALES
      211 2 EXPORTS of all kinds of timber from Singapore last year totalled 1,692,369 cubic metres worth $578 million compared with the previous year's 1,680,900 cubic metres ($577.4 million). The slight rise came mainly from the rise in the exports of mouldings which totalled 44,815 cubic metres
      211 words
    • Article, Illustration
      PEOPLE IN BUSINESS
      365 2 INTERNATIONAL Press Institute (IPI) has announced the appointment of Mr. Ranald Macdonald as its chairman. Mr. Macdonald, 39, is the first Australian for the post and is one of the youngest men to hold the office. He has held a number of senior positions within IPI, including
      365 words
    • Article
      Lock icon Rice crop estimates revised
      89 2 Reuter. THE Australian Bureau of Agricultural Economics raised its fourth estimate of the country's 1977/78 rice crop to 500,000 tonnes from the third December estimate of 457,000, compared with the 530,000 tonnes 1976/77 crop. In its March trends in agricultural commodities quarterly, the Bureau raised its
      Reuter.  -  89 words
    • Article
      Lock icon CRA seeks to boost trade ties in Asia
      844 2 Reuter CONZINC Rlotlnto of Australia Ltd (CRA) group Is at the forefront of Autrallan companies trying to build long-term trading relationships with Pacific Basin countries other than Japan. CRA chairman Rod Carnegie said at the company's annual meeting Australia's geographic location dictates
      Reuter  -  844 words
    • Article
      Lock icon Tokyo firm wins Pertamina contract
      115 2 Reuter TOYO Menka Kaisha said it has won a 12 billion yen (SSIOB million) joint contract with the Far East Oil Trading Co from the Indonesian oil company, Pertamina, to build natural gas gathering facilities in East Java. The deal involves building offshore and inland
      Reuter  -  115 words
    • Article
      MEMO PAD
      246 2 DATE TITLE VENUE ORGANISER COURSE AND TALKS April 24May 13 Middle Management Course SITC SITC a Marketing Now Hilton Consulasla May 3-4 Assessment and Development Programme Hilton Consulasla May 6,13 SIM and 20 The Effective Secretary SIM May 8-9 Finance for NonFinancial Managers Hilton Price Water ho use
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    • Article
      Lock icon Norway unable to ease curbs on Hongkong
      388 2 AFP. THE Norwegian government is not immediately expected to lift controls on Imports of Hongkong textiles and clothing during bilateral negotiations scheduled to open in Oslo yesterday. Industry sources disclosed this following reports that Norwegian authorities have unofficially Indicated that they cannot at
      AFP.  -  388 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      131 2 study with Wolscv Hall OXFORD Institute of Administrative Management Institute of Bankers Inst, of Chartered Secretaries Administrators Inst of Statisticians London Chamber of Commerce Industry HSC/GCE A' Level MCE/SCGCE 0' Level London/AEB GCE 'A' 'O' Levels Modern Mathematics for Teachers Foulks Lynch i jONDON Ass of Certified Accountants Inst, of
      131 words
    • Advertisement
      Page 2 Advertisements Column 2
      66 2 MSE Call our Port Kelang or K.L. Office for any emergency repairs to your ships afloat at Port Kelang or Port Dickson. MSE has now extended its services for wider coverage beyond Johore. *****3 Port Kelang office ***** Kuala Lumpur office MALAYSIA SHIPYARD AND ENGINEERING SDN. BHD. Pasir Gudang, Johore.
      66 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      623 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 1 Outcry about a medical man getting the cane (6) 7 It's bad when Ivan gets mixed up with Lily (8) 8 Agreeable sport (4) 10 Unemotional In the courtroom (6) U A substitute figure? (6) 14 A tree, you said (3) 16 Gently persuaded
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  • OVERSEAS
    • Article
      Lock icon Carter will not budge on his tax proposals
      1009 3  -  Br LEONARD SILK NYT PRESIDENT Carter Is holding firmly to his proposed US$25 billion (5557.5 billion) tax cut package, despite efforts of such friendly critics as chairman William Miller of the Federal Reserve Board and many congressmen to trim It. The major
      NYT  -  1,009 words
    • Article
      Getting the most out of taxes
      589 3 THE FEDERAL government has 182 benefit programmes with social or economic purposes and they cost nearly a quarter trillion US dollars (***** billion) In the last fiscal year, according to an Inventory Just published by the Institute for Socio-economic Studies. Leonard Greene, the Institute's
      589 words
    • WORLD IN BRIEF
      • Article
        Lock icon FED LENDING BILL PASSED
        512 3 Agencies. •THE House approved legislation extending for one year the authority of federal Reserve banks to "tend the US Treasury up to billion (557.5 billion) 2>r emergency purposes. The bill grants authority 4»r the Fed to go directly to *Bie Treasury to purchase obligations. YIRST National
        Agencies.  -  512 words
    • Article
      Lock icon Bonn will take new measures if growth falters
      244 3 Reuter WEST GERMAN Finance Minister Hans Matthoefer Mid on Monday he had told US economic officials that Bonn would take new measures this summer if plans for economic growth faltered. He also urged US legislators to pass an energy bill to ease
      Reuter  -  244 words
    • Article
      Lock icon Super boss for all US foreign assistance
      373 3 AP. PRESIDENT Carter has approved coordinating US policy on overseas economic aid under one adviser. As part of the coordination, he endorsed the late Senator Hubert Humphrey's proposal to replace the Agency for International Development (AID) with "a new foreign assistance agency." Administration
      AP.  -  373 words
    • Article
      Another go at wheat agreement
      160 3 LEADING wheat exporting and importing nations began a week of closed consultations In Geneva on a possible new international wheat trading agreement. The 12-nation body, called the Interim Committee, was appointed by the International Wheat Conference on March 23 when it adjourned until September after
      160 words
    • Article
      Lock icon HELP AFRICA
      109 3 AFP. THE African Development Bank has decided to Invite non-African countries to participate in Its capital, it was announced In Libreville. Bank President Kwame Fordwor said that such foreign resources would enable the bank to finance three to four times more projects than last year. He also called
      AFP.  -  109 words
    • Article
      Lock icon Auto transfer from savings to cheques
      745 3 NYT THE US Federal Reserve Board will permit member commercial banks to transfer money automatically from their customers' savings accounts into cheque accounts effective Nov. 1. The move, supported by large commercial banks and consumer groups, is strongly opposed by savings and loan associations
      NYT  -  745 words
    • Article
      Lock icon No to extension of credit maturities
      113 3 Reuter. US Assistant-Secretary of State Julius Katz restated the Administration's opposition to moves in Congress to liberalise Commodity Credit Corporation programmes of agricultural credits. Mr. Katz told a House international relations sub committee that the State Department is against both the proposal to extend
      Reuter.  -  113 words
    • Article
      Lock icon Wage claims in Britain expected to fall sharply
      596 3 Reuter. BRITISH Prime Minister James C&ll&gh&n expects wage claims In the coming Bay round from August to e sharply lower than the current round this year. Addressing the clerical union, Apex, in the first of a series of speeches to union conferences,
      Reuter.  -  596 words
    • Article
      Yields up
      50 3 IN LINE with rising interest rates, average effective yield on US Treasury bills rose to 6.46 per cent for threemonth bills and 6.935 per cent for six-month bills at the weekly auction. Yields on three-month bills ranged from 6.421 per cent to 6.468 per cent, the Treasury said.
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      442 3 from Penguin IN PENGUINS 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 the case
      442 words
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      403 4 OPENING quotations In the Singapore rubber market yesterday were marked up one cent higher on London advices. Prices advanced further on covering demand for the current month, which moved to a slightly higher premium over June RSS One. Enquiries for forwards also aided sentiment, with
      403 words
    • Article
      RAS PRICES
      352 4 R A S. prices in cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S. prompt f o b. 208.50 209 50N 209.50 210.50N Int 1 RSS May 209 00 209.50 210 00 210.50 Int. I R.S.S. June 208.75 209 25
      352 words
    • Article
      SSR AND SMR
      87 4 NOON SSR and SMR prices yesterday; June July HAS (Current Mth) (Forward Mth) Buyers Seller* Buyers Seller* (cent*i wrkc) (cent* p XT kit SMR5CV (1-ton pallet) 223 00 225 00N 223.50 225 SON SMR SL (1-ton pallet) 222 00 224.00N 222.50 224 50N SMR 5 (1-ton pallet)
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    • Article
      Palm oil
      102 4 THE LONDON and ROTTERDAM markets were closed on Monday for the May Day holiday. The following palm oil prices were quoted last Friday. C.l.F. North European ports, In US dollars per ton unless otherwise stated. LONDON: Monday Previous Malaysia 5% f fa bulk per tonne June closed 583
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    • Article
      Closing prices
      30 4 Rubber: May 2 Singapore: May 210.00 cents (up 3.25 cents) Malaysia: May 215.25 cents (up 3.75 cent) Tin: $1,550 (down $3.50) Official offering: 2(9 tonnes (up 11 tonnes)
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    • Article
      Coffee
      325 4 ROBUSTA futures In London yesterday ended the opening call barely steady £12 up to £2 down from Friday's close. Turnover was 181 lots. In a thin market, July closed the early session £8 higher at £1,399 after initial trade and commission house buying pushed it up to £1,405 for
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    • Article
      Produce exchange
      425 4 MIXED conditions prevailed In quiet trading on the Singapore produce market yesterday. All black peppers fell by $2.50 per plcul under selling interest against the new crop that is expected from Sarawak during the latter half of this month. White peppers held steady with no selling in this
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    • Article
      Hongkong comex
      171 4 THE sugar futures market yesterday closed little changed from Monday's close in quiet trading. Four lots were traded. The daily spot sugar price rose US 0.05 to 7.55 cents, while the net open positions totalled 33 lots after Monday's trading. Sugar futures closing prices Clwini Previotu ClMiac Jly
      171 words
    • Article
      SPOT PRICES
      188 4 YARN and cotton In Hongkong dollars, spot ex-godown: Cotton Yarn: China Blue Phoenix 1 0bTbif ,2M<,4OS2 ,sO(Perb41 Pie** Goods: China Butterfly and Globe Brand unq. Dragon Head unq. Five Lambs una Flower and Butterfly unq. Flying Geese unq. (per piece 36 Inches by 40 yards). Pakistan Raw Cotton:
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    • Article
      Soybean
      202 4 OLD CROP soybean futures on Monday closed US 11V* to 5Vj cents a bushel higher in Chicago while new crop months finished two to s'/» cents lower. Trading was light through much of the session. as the market ranged to either side of last Friday's close. Prices firmed in
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    • Article
      Wheat
      151 4 WHEAT futures on Monday ended the session with losses of USB to 6Vi cents a bushel in Chicago, closing at or within a cent of the day's lows. Local selling sent prices downwards when little buying appeared in early trading and commercial and professional selling added to the market's
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    • Article
      Cocoa
      169 4 TERMINAL cocoa yesterday morning opened quietly with losses from Friday of £7 to £15.50 per tonne In London. Sentiment was partly influenced by Monday's generally quiet performance in New York. The sources said bearish sentiment persists although origins were maintaining their premium prices, showing little if any. inclination to
      169 words
    • Article
      Sugar
      140 4 SUGAR futures yesterday morning opened £0.75 to C 0.25 below Friday's close in a turnover of 72 lots in London. The market was very quiet on lack of news and the comparatively small movement In New York on Monday. Some traders attributed the slightly lower prices to lack of
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    • Article
      Rice
      202 4 BANGKOK prices were quoted as follows yesterday: (US dollars per tonne FOB basis Bangkok): White Rice: 100 pet Ist class 442. 100 rrt 2nd class 427. 100 pet 3rd class 422 pet 413. 10 pet 400 15 pet 392. 20 pet 387. ?5 pet 377 35 pet unq Broken:
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    • Article
      Zinc
      57 4 ZINC finished the morning with gains of £6.25 for cash and £7.25 for three months in London yesterday. The market recovered from Friday's lower levels on short-covering aided by the trend in copper, dealers said. Three months worked up from £300 on the premarket to £305 during late kerb
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    • Article
      Farmers prefer to till lands than strike
      648 4 "IT LOOKS like everybody's got spring fever," a leader of the American Agriculture Movement remarked the other day, commenting on the fact that most farmers were now working their fields Instead of answering the group's earlier call for a national strike. Few people
      648 words
    • Article
      Straits tin
      175 4 THE Straits tin price in Penang yesterday dropped M 53.50 to $1,550 per picul on an official offering up 11 tonnes to 269 tonnes. Dealers said operators were cautious, waiting to see how the London market will develop. In LONDON yesterday, tin finished with gains of £26 for
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    • Article
      Copper
      222 4 INt NEW YORK on Monday. Comex copper prices sold off towards the close on local liquidation to finish at or near the lows off some 0.40 cent on the day. Dealers said the locals were forced to liquidate after unsuccessfully attempting to trigger light buystops believed to be situated
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    • Article
      Lead
      79 4 LEAD yesterday finished the morning with losses of £4.25 for cash and £3.25 for three months in London. Sentiment was dampened by Asarco's two-cent price cut to 31 cents per lb as this took many traders by surprise, although dealers pointed out that the new price was still above
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    • Article
      Gold
      406 4 THE kilobar in Singapore yesterday opened 5520.00 off from Saturday's closing at $12,753. The market was later bldded higher to $12,801 In the early afternoon session before easing off to close at $12,748. In the London market, the metal opened at US$l6B.BO/ 169.10 and closed at 168.70/ 169.00. The
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    • Article
      Silver
      87 4 IN' NEW YORK on Monday, Comex silver futures churned in a small U53.00cent range on a lack of trading interest due to the May Day holiday In major European financial centres. Closing prices were off 2.80 to 3.20 cents net on the low turnover of 6,400 contracts, including 2,796
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    • MONEY AND EXCHANGE$
      • Article
        Singapore market
        505 4 THE US dollar declined slightly against most currencies in the foreign exchange market yesterday. Trading however, was thin after the holidays. Against the yen, the dollar opened at 225.70/80 but was traded down to 225.35/50 by London opening. Similarly, the dollar eased against the Deutschemark. Opening at 2.0740/50,
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      • Article
        Asian $ rates
        160 4 Asian rates ASIAN currency deposit Interbank rates as at close on May 2 U8 Dollars (Spot) Offer Bid 7 days 1 mth 2 mttu 3 mths 6 mttu 9 mths 12 mtlu 11/2 71/2 7 7 7/8 81/16 83/16 8 1/4 7 3/8 7 3/8 71/2 73/4 715/16 81/16 61/1
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        Discount
        46 4 RANOE of prices offered by discount houses on May 2 Overnight 3*H Call deposits 3^S Clislt Buying Selling 3-month Treasury bills 31/4 31/8 3-month Bank Mils 4 7/8 4 3/4 3-month CD 5 4 7/8 8-month CD 51/4 5 1/8 Source: National Discount Co Ltd.
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      • Article
        MLR
        21 4 THE average rate at which Singapore banks are currently prepared to lend to their best customers is 7 per cent.
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      • Article
        Euro $ rates
        117 4 Euro rates EURODOLLAR deposit rates moved higher yesterday in response to US prime rate Increases. Trading interest was moderate with short dates fairly well bid. Overnight firmed 1/8 to 77/16 per cent from the opening while other shorts rose 1/16. Three month funds traded at 7-13/16 per cent middle compared
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      • Article
        Australia/NZ
        61 4 AUSTRALIA/ NZ exchanges quoted on May 2. AUSTRALIA: US dollar 1.1337/ 1 1200 Sterling 0.0233/ 0 0102 Ninety-day air mall buying rata*: Sterling 0.0421 US dollars 1 1037 Ninety-day forward buying rates Sterling 0 8255 US dollars 1.1302 NEW ZEALAND Sterling 0 5555/ 0 5525 US dollar 1 0100/
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        Frankfurt
        45 4 FRANKFURT exchanges opening quotes on May 2. US 2 0725/40 C«n 1 8405/25 Stg 3 778/788 Dll 03.50/70 8 FT 106.36/55 Lit 2 300/303 F fr 44 83/93 N kr 36.21/41 B fr con 0 413/423 B fr fin 6 41/42 Yen 0 9190/9205
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      • Article
        London
        291 4 THE DOLLAR opened firmer In light trading yesterday, buoyed by news of higher US prime rates and the continuing advance on Wall Street. News that the US had a US$ll.2 billion trade deficit on a payments basis In the first quarter this year against $9.9 billion the fourth 1977
        291 words
      • Article
        New York
        157 4 THE CANADIAN dollar in New York closed firmer in an otherwise dull foreign exchange trading session on Monday. The Canadian unit closed at U588.84/86 cents from 88.46/48 last Friday and 88.56/58 at the opening. Some dealers expected the Canadian dollar to break through 89 cents yesterday. Dealers attributed
        157 words
      • Article
        Hongkong
        142 4 THE US dollar closed slightly easier in quiet trading yesterday, after Monday's European closure. The US unit eased slightly to 2.0710/ 20 marks from its opening at 2.0720/ 40 and the New York closing midpoint 2.0720. Against the yen, it was quoted at 225.30/ 50 against Monday night's 225.20/
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        Tokyo
        133 4 THE US dollar for overnight delivery yesterday closed at 225.50 yen, down from a 226.10 opening but still slightly above Monday's 225.35 close. Dealers said trading was moderate, with volume US$4l5 million. The US currency fluctuated narrowly between 225.35 and 225.80 in late trading, after falling back in the
        133 words
      • Article
        Eurobonds
        232 4 EUROBOND prices quoted on May 2 SlrmighU Bid Offer Total oil stg 9*»04 03 94 FTI sl| 0* 07 0025 01 25 Courtaulds stg 9* 00 00 01 EIB stg 9* 92 94 95 Flsonsstg 10* 07 04 95 Inco992 97.37 97Ml Inco0*84 07.75 00.25 Spar bank em as
        232 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      151 4 2SSCS m o o o o > Cookies u a r r stf^ *v 55 T f ■i a M Hi This book comprises a mouthwatering selection of over 200 recipes for all the family. It is illustrated throughout in colour, with step by step photographs to guide you through
      151 words
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  • TRANSPORT
    • Article
      South-east Asia must look before it leaps
      676 5  -  ■y RAHIM KASSIM SOUTH-EAST Asian countries must examine their shipping needs carefully before they venture into the highly competitive market. Many countries in this region have Ignored the economies of bulk carrier ships and have ventured into container ships which are more demanding
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    • Article
      Lock icon Landing a share of world market
      448 5 AFP. A CONSORTIUM of Australian industry this week is starting negotiations for Australia to get a share of the multi-billion dollar world market for a microwave landing system It Invented. Representatives of the world's leading supplier of instrument landing systems, the US company Wilcox
      AFP.  -  448 words
    • Article, Illustration
      SHIPS IN PORT
      337 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bencruachan (1830 hauls after Hrvatska hauls) 33/34 Catamarca II (1600 after Ivory Oak) 18. Centaur (0630 after United Vitality) 42/43. Fourcroy (1500) 23 Garoufalia (0800 after Lloyd Bakke) 6/7 Oolden Bear (After Alexandr Grin) 44 Oolden Eastern (0600) 22 Hrvatska (1100 hauls
      337 words
    • Article
      Lock icon BACK TO NORMAL
      55 5 AFP. AUSTRALIA'S domestic airline services got back to normal yesterday after the Trans Australian Airline pilots who had been on a four-day strike returned to work. The pilots won a pay rise the amount was not disclosed and extra conditions. Both the airline and the pilots admitted
      AFP.  -  55 words
    • Article
      Lock icon DOCKERS' PAY RISE
      44 5 AFP FRENCH dockers have obtained a 5.5 per cent pay rise under an agreement following a series of strikes, the General Labour Confederation (CGT) announced. The agreement also covers increases in year-end and holiday bonuses as well as retirement bonuses. AFP.
      AFP  -  44 words
    • Article
      Lock icon Volks up
      40 5 AFP. THE VOLKSWAGEN motor group has decided to increase the prices of its cars by 3.5 per cent in West Germany this week, the company announced. The rise will also affect models made by Volkswagen's subsidiary, AudiNsu. AFP.
      AFP.  -  40 words
    • Article
      OOCL to start two Far East joint services
      276 5 ORIENT Overseas Container Line (OOCL) will be OMntlni two joint service* this year, one with Jeuro Container Line (JCL) and the other with Asian African Containers (Nigeria) Limited (AACL). The OOCL-JCL joint service in the Far East/ Middle Ea»t Trade will be
      276 words
    • Article
      Lock icon Attack on airport
      45 5 Reuter POLICE reinforced security at Tokyo's new international airport after an attack at another Japanese airport yesterday. Police said extremists had destroyed a building at Hiroshima airport housing navigational aid equipment and also an office at a police weapon-training range near Osaka.
      Reuter  -  45 words
    • Article
      Lock icon Sharp rise in Boeing profits
      335 5 Reuter BOEING company, a large aerospace manufacturer has reported sharply higher profits for the first quarter of the year and also said It was Increasing production of commercial jet planes because of continuing heavy orders. Production rates currently scheduled for 18 planes monthly by mid--1978.
      Reuter  -  335 words
    • Article
      Lock icon Airbus now eyes United Airlines
      142 5 AFP AIRBUS Industrie is angling for orders from United Airlines after selling 23 A--300 Airbuses to Eastern Airlines. Richard Ferris, president of United, said in Chicago his company's choice at the moment was between the Airbus A-300 and the Boeing 767. And the outcome was
      AFP  -  142 words
    • Article
      Lock icon TOA to buy DC-9s
      112 5 Reuter. THE TOA Japanese domestic airline will buy five McDonnell-Douglas DC-9-80 passenger aircraft at about US$BO million (SSIB4 million). TOA will place a formal order next week, to be followed by final cost and delivery negotiations. The new aircraft will replace some of the 19 smaller
      Reuter.  -  112 words
    • Article
      FAR EAST FREIGHT
      789 5 THE 4,399 dwt Faros flying I the Singapore flag and built In 1970 has been sold to African Interests for approximately 7 million marks. Singapore Interests have purchased the 12.294dwt' Larch bank'' built in 1961 for about U*****,000. The 1956 Kobe built Golden Eagle (34,772dwt) was sold
      789 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      670 5 ARRIVALS Service Local Operator Number Time From CPA CX710 1005 HLP GIA GA980 1030 HLP THAI TG423 1035 BKK SIA SQ103 1045 KUL SIA SQ209 1045 HLP THAI TG981 1120 BKK MAS MH605 1045 KUL GIA GA944 1055 PKU GIA GA908 1100 MES UB UB231 1115 RGN
      670 words
  • Page 5 Advertisements
    • Advertisement
      Page 5 Advertisements Column 1
      259 5 SINTAT Rent-a-Car SINGAPORE AIRPORT TEL *****5 CITY TEL *****55 +< Call us for your local or onward reservations L& 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
      259 words
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  • Article
    Exchange must act quickly
    529 6 WHEN the Stock Exchange of Singapore declares a counter a designated security Its intention Is to remove the usually strong speculative fever that has pushed the price of the stock to Irrationally high limits. Unfortunately, this measure appears to be relatively ineffective as several designated counters
    529 words
  • Article, Illustration
    Singapore can play wider role in Saudi Arabia
    1189 6  -  By LARRY LAM SINGAPORE has already made more of a name for Itself In Saudi Arabia than may generally be realised, primarily through the efforts of Us Asia-Pacific Shipyard in unplugging the congested Jeddah harbour. It was not until two years ago
    1,189 words
  • Article, Illustration
    Lock icon Accord on plan to save the Gulf
    641 6  -  By JOHN CALLCOTT UPI. ENVIRONMENTALISTS are hailing as an example to the rest of the world the rapid agreement by oil-rich nations of the Persian Gulf on action to save their common sea from death by pollution. The eight countries concerned took just
    UPI.  -  641 words
  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      589 6 MS Orchard Road, B'pore t, Tel: *****2 406/407 Havelock Road, B'pore 3. Tel: 4SJM 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 Pebble Bar Dally (except Sunday) open
      589 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      136 6 MAY 2-15: The southwest moonsoon appears to have entered an inactive phase over South-east Asia. It is therefore likely that Singapore would be affected by isolated afternoon/ evening thunderstorms on three or four days during the next one week. This may be followed by a period of early morning thundery
      136 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      255 6 SINGAPORE 5 3.00 PM Opening announcements followed by Serbanika (Malay Repeat Last in series) 3.30 Diary of Events (Malay) 3.35 Bonanza The Desperado 4.25 Intermission 6.00 Opening announcements followed by December Bride Royalty 6.30 News in Brief 6.35 Wild, Wild World of Animals Strange Creatures of the Amazon 0 7.00
      255 words
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  • Article
    Lock icon TOURIST ARRIVALS, 1978
    846 7 Singapore Business IN JANUARY 1977, Singapore Business, the local economic monthly, predicted that, by the end of that year, a total of 1,516,000 visitors would arrive In Singapore an Increase of 14.8 per cent over the previous year. The magazine was only 0.6 per cent out In
    Singapore Business  -  846 words
  • Article
    STRAWS IN THE WIND
    864 7 A LEADING bookstore In Is displaying posters -©Acclaiming "Singa--#*»ans Welcome." As the posters also Incorporate a .Smiley" face, I can only assume this is an adjunct of the current Singapore Jurist Promotion Board Campaign. But, as inave remarked before, our campaign slogan writers seem to be
    864 words
  • Article, Illustration
    Lock icon Bob and Mike just don't see eye to eye
    927 7  -  ■y CLYDE FARNSWORTH NYT. PUBLICLY, both of them are a little embarrassed by all the reports of discord. "Exaggerated," they have Instructed their aides to tell newsmen. They even, it is now said, have lunches of cottage cheese together. The encroachments
    NYT.  -  927 words
  • Article
    Use and abuse of money as an incentive
    985 7  -  FOBUMi ...on management By GAN HUAT TATT ACCUSATIONS that the Singapore worker is overly concerned about money are often heard. Not too long ago, the word "moneytheism" found its way into our vocabulary. It would be S referable, perhaps, to be nown
    985 words
  • Page 7 Advertisements
    • Advertisement
      Page 7 Advertisements Column 1
      324 7 IS iTS i i XQUOTMMOfKMiaaMH wl 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
      324 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Page 7 Miscellaneous Column 1
      38 7 Sftgpn/ SffeepM On 'Own I 0)V Frank Dic&ens I Cor%: ON, legs V Httl »NQ, eer BRCX TO THC office. OTHfeRMSe. Tv4£Joe'u Be. eycjuse Pie BftfreiM is Flat .COULD NOU—-P mCReDiBLG. -T»ms CflO wrs Neves so L. FAST.
      38 words
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  • INTERNATIONAL STOCKS MARKETS
    • Article
      Lock icon Share prices advance
      738 8 TOKYO Source: DBS Daiwa PSYCHOLOGICALLY favoured by advances In New York, prices yesterday closed higher In expectation of a price rise next week after a series of national holidays. Issues belonging to the Toyota and Matsushita groups advanced due to Investors' revaluation of their strong financial situations.
      Source: DBS Daiwa  -  738 words
    • Article
      Hongkong
      363 8 THE market opened on an extremely quiet note yesterday morning with no follow-through at this level. Some nervous sellers found little comfort and prices started to drift off. All eyes were again on HK Wharf which slipped back to $18.20 before closing at $18.40. while other blue chips eased
      363 words
    • Article
      Sydney
      336 8 LEADING stocks eased yesterday. although some partly recovered during the afternoon, dealers said. Coal and Allied Industries bounced back after a heavy fall on Monday, rising 19 cents to 553.05. marking the end of the CRA Howard Smith bid. BHP closed four cents down at $6.60 and CSR closed
      336 words
    • Article
      Manila
      155 8 THE MARKET yesterday closed mixed with commercials advancing slightly and oils and minings declining, dealers said. Turnover fell to 2.79 million pesos from Friday's 8.00 million. Leading mining issues declined slightly following the further fall In the copper price. Leading oils Issues were unchanged but others were down slightly
      155 words
    • Article
      Bangkok
      130 8 MAY Bahts Asia Fibre 250 unch Bangkok Bank 373 -2 Bangkok Invest. Bangkok-Metro-politan Bank Bata 720 10 BerllJucker Carpet Intnl Charoong Thai Wire 275 -1 Oumex Duslt Thant Faber Merlin First Trust Genera Finance 354 unch Indo-Thal Industrial Finance Corp 2475 -30 J And J Ho Jalaprathan Cement 275
      130 words
    • Article
      Market closes higher
      1295 8 NEW YORK THE BTOCK market finished broadly higher, although trading was slowed by tne absence or Europeans due to the May Day holiday on Monday Nonetheless, vollme on the New York Stock Exchange expanded to about 36 million shares rrom Friday's 32.65 million. Analysts said the upswing
      1,295 words
    • Article
      Toronto
      341 8 SHARE prices closed higher In active trading on Monday. The composite Index was up more than a point and advances led declines 205 to 202. American Eagle fell US$l.O5 to 52.55. Oakwood 00 cents to $4.15 and Ego Mines 40 cents to $2.30 before all three were halted around
      341 words
    • Article
      Selected Indices
      60 8 FINANCIAL TIMES INDUSTRIALS Monday closed Friday 465.4 Week Ago 460.4 DOW JONES AVERAGE INDUSTRIALS Monday 844.33 Friday 828.08 Week Afo 810.12 LONDON DOLLAR PREMIUM Monday closed Friday 100* to 110 H.K. HANG SENG Tuesday 450.39 Monday 461.83 Week Ago 455.00 8YDNEY INDUSTRIALS Tuesday 410.21 Monday 410.73 Week Ago
      60 words
    • Article
      Annual report time for US companies
      741 8 APRIL Is annual report time in the UB, and the malls are flooded once again with millions of glossy documents detailing 1977 performance of American business. While the traditional approach of a management analysis followed by financial statements continues to be the norm, some
      741 words
    • Article
      PFIZER TO INVEST US$110m IN RESEARCH
      236 8 PFIZER Inc expects to Invest about US$llO million this year in research and development compared with $06 million in 1777, Its Sisldent Gerald Laubach d the annual meeting of the company recently. Mr. Laubach said capital expenditures however, are expected to Increase only moderately
      236 words
    • Article
      Jo'burg
      407 8 GOLD shares recovered some earlier losses to rule marginally lower on balance In very quiet trading on Monday. Trading was Inhibited by the absence of bullion Indications and lack of Interest on account of the May Day holiday In Europe, dealers said. Mining flnancials were mostly mixed where changed
      407 words
    • Article
      CHICAGO BOARD OPTIONS
      1487 8 May 1 TRADING In options on the Chicago Board Options Exchange rose to 219,674 contracts on Monday, compared with 153,524 contracts on Friday. OPTION JLY OCT JAN STOCK Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel AUR AUR AUR Avon Avon-P Avon Avon-P Avon Avon-P Bank
      1,487 words
  • Page 8 Advertisements
    • Advertisement
      Page 8 Advertisements Column 1
      140 8 *7% if t.' -3. ?v tP Don't let the language barrier stop y ou from wider contacts iQ* (< :l t ,\1 yV^ a <v: 4 tV> CO T f* to A vfj m -ad u 1 .o* 5 YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at home, while
      140 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Biggest loss for Chrysler
      426 9 NORTH AMERICAN Reuter. Njfw YORK: Chrysler Corp, plagued by slumping car sales. Increased costs and problems overseas, last -'Week reported Its biggest Kijuarterly loss In history, af The nation's third largest '-'car maker said it lost •jJUSSI2O million, or $1.98 a >share, In the first quarter
      Reuter.  -  426 words
    • Article
      Lock icon Feeling of comfort for Sears Roebuck this year
      170 9 Reuter. Roebuck and Co is "comfortable" with "Jujalysts' earnings projecetlipns of US$2.9O to $2.95 a share for the year ending next January, senior vice ;Tfrpsident for Finance Jack ,j}tihcannon said after an »„Wialysts' meeting in Chicago recently. In the year ended last
      Reuter.  -  170 words
    • Article
      Shell Canada
      54 9 "S.HELL Canada said increased income from natural gas and crude oil price hikes was largely offset by higher production and exploration costs. The 6 per cent decline in first quarter earnings also reflects pressures on petroleum product margins due to oversupply, particularly in Ontario, Quebec and the Atlantic
      54 words
    • Article
      Lock icon Quarterly results at United Technologies up
      427 9 Reuter UNITED Technologies Corporation, which has offered to merge with Ambac Industries incorporated, has reported gains of 15.8 per cent and 8.2 per cent in profits and sales, respectively, for the first quarter of the year. It said improved results were achieved because the
      Reuter  -  427 words
    • Article
      Lock icon Trust sues bank
      70 9 Reuter BARNETT Winston Investment Trust in Florida said it has filed suit against Marine Midland Bank, one of its three remaining creditor banks, for failure to honour an agreement for settlement of the trust's indebtedness to the bank. Marine earlier filed suit against the Trust for full
      Reuter  -  70 words
    • Article
      Lock icon French bank eyes Sun Hung Kai
      316 9 ASIAN AFP Reuter A FRENCH bank was reported to be negotiating to Buy a substantial minority stake in the Hongkong securities firm of Sun Hung Kai. A spokesman for Sun "HUng Kai confirmed that tajjts were being held with a fading international banking and
      AFP; Reuter  -  316 words
    • Article
      Lock icon Atlas Cons Mining
      91 9 Reuter. ATLAS Consolidated Mining and Development Corp has announced net 1977 profit at 81 million pesos (109.5 million). Gross 1977 operating income 1.33 billion pesos (1.18 billion). First quarter 1978 net income 1.67 million pesos (42.4 million). First quarter net operating revenue 239 million (220.7 million). Jose
      Reuter.  -  91 words
    • Article
      Lock icon Shell (Philippines)
      74 9 Reuter. SHELL Exploration (Philippines) Inc has signed a geophysical oil exploration contract with the Philippine Energy Department. a department spokesman said. The contract calls for seismic and other tests along 1.500 line kilometres in the Central Philippine Visayan Sea over a 12month period, the spokesman said. The operations
      Reuter.  -  74 words
    • Article
      Lock icon Bid for Coal and Allied withdrawn
      186 9 Reuter HOWARD Smith Ltd said it will not proceed with the proposed Joint bid with Conzinc Riotlnto of Australia Ltd (CRA) for Coal and Allied Industries Ltd (CAIL). But it will purchase on the stock exchange sufficient CAIL shares to bring its holding to
      Reuter  -  186 words
    • Article
      Earnings, sales at Walt Disney improve
      232 9 WALT Disney Productions in Bur bank, California, has reported a sizeable increase in corporate profits for the fiscal second quarter, aided by a 17 per cent rise in attendance at its Disney World Amusement Park. The second quarter also set a new record for
      232 words
    • Article
      Lock icon Good quarter for Rockwell
      95 9 Reuter ROCKWELL International Corp president and chief executive officer Robert Anderson said in Pittsburgh recently that earnings for the second quarter reflect improved performance by the automotive, aerospace, utility and industrial and consumer businesses. Rockwell earlier reported a per-share increase in the second quarter to US$l.23
      Reuter  -  95 words
    • Article
      Lock icon STANDARD OIL
      82 9 Reuter. STANDARD Oil Co (Indiana) said Its Amoco Canada Petroleum Co Ltd has a working interest in two discoveries In the West Pemblna-Brazeau region of central Alberta which were previously announced by the operating companies. The first is the PaciflcAmoco Brazr lf-29-48-12 (WSM) well and the second is
      Reuter.  -  82 words
    • Article
      Lock icon Probe into San Imperial share trading
      255 9 AFP. RECENT heavy trading In the shares of San Imperial Corporation and a leap In their price are to be Investigated by the office of the Hongkong Commissioner for securities. Some three million of the company's shares have been traded since the end of
      AFP.  -  255 words
    • Article
      Lock icon Approval for Sun Life shift to Toronto
      683 9 NYT. DESPITE official pressure and vehement protests, an overwhelming majority of policyholders present or voting by proxy last week approved a proposal to move the headquarters of Sun Life Assurance, Canada's largest insurance company, from Montreal to Toronto. Thomas Gait, president of Sun
      NYT.  -  683 words
    • Article
      Lock icon BEATRICE FOODS
      147 9 Reuter. BEATRICE Foods Co said 80 per cent or US$6lO million of its fiscal 1978 sales came from units it operated at the beginning of the year. Sales of food and related products and services accounted for 72 per cent of sales and 58 per cent of operating
      Reuter.  -  147 words
    • Article
      Winterthur Insurance
      173 9 BONDS AND LOANS WINTERTHUR Versicherungen said it plans to float a Csso million convertible and option bond Issue with a coupon of 5 per cent and maturity eight years. The loan will be divided Into bonds of $1,000 with subscription entitlement on the basis of one bond for
      173 words
    • Article
      Newfoundland
      62 9 LONDON: The province of Newfoundland plans to float a US$5O million 12year bond on the international market with an expected coupon of 9-1/4 per cent. Credit Commercial de France said. A purchase fund will operate throughout the life of the bonds which, if fully used, will give the issue
      62 words
    • Article
      Lock icon Denmark
      89 9 Reuter LUXEMBOURG: The Kingdom of Denmark is raising a 400 million mark seven year Eurocredit with a split margin over Luxembourg interbank offered rates for marks (Luxibor), informed banking sources said. The spread will be 5/8 per cent for the first two years and 3/4 per cent for the
      Reuter  -  89 words
    • Article
      Lock icon Norwegian oil loan
      82 9 Reuter. THE NORWEGIAN state oil company Statoll has signed a US$3OO million 10-year Euroloan with a group of international banks. Chase Manhattan Ltd said as coordinator for the financing. Interest is payable at 5/8 per cent over London interbank offered rates for the first six years, rising
      Reuter.  -  82 words
    • Article
      Lock icon Bayer AG
      46 9 Reuter. MUNICH: Bayerlsche Motorenwerke AG said It proposes raising capital to 500 million marks from 396 million, mainly through a one-for-four rights issue at 133 per cent. It also proposes a lower 1977 dividend of nine marks against 10 marks paid for 1976. Reuter.
      Reuter.  -  46 words
    • Article
      Spanish company
      68 9 LONDON: Union Explosivos Hio Tinto. a Spanish private sector company, has signed a 70 million seven year syndicated credit, Citicorp International Group said as joint lead manager. The credit carries a margin of 1-1/4 per cent over London Interbank offered rates and several other international banks lead managed
      68 words
    • Article
      Bowater profits hit by slump
      584 9 EUROPEAN THE CONTINUING depressed level of activity in the major economies of the world other than the US Is likely to affect 1978 profits of Bowater Corporation, particularly in the UK, Lord Erroll of Hale, the chairman, said. In the review of operations, the directors
      584 words
    • Article
      Lasmo's losses below forecast figure
      281 9 THE consolidated loss of London and Scottish Marine Oil Company In 1977 was C 7.88 million, an improvement of C 297.000 on the anticipated loss outlined in its June offer for sale documents. Directors say the improvement was largely due to the interest received on
      281 words
    • Article
      Lock icon TIN MINE TO CLOSE
      85 9 Reuter. THE MOUNT Wellington tin mine In Cornwall, south-west England, will cease production because of poor reserves and ore quality, the owners. Cornwall Tin and Mining, said In a statement received In London. The decision follows a meeting of the board In Geneva recently and comes
      Reuter.  -  85 words
    • Article
      General Accident hopes to do better
      337 9 GIVEN AN increase In its worldwide investment income, an improvement on the overall 1977 performance is hoped for in the current year at General Accident Fire and Life Assurance Corporation. Mr. Hervey Stuart Black, the chairman, tells members that, despite exceptionally severe weather In
      337 words
    • Article
      Tyre group loses again
      211 9 KLEBER COLOMBES. France's second biggest tyre group, which is linked with Semperit of Austria within the Semkler group, has announced another big loss in the 1977 financial year, after several poor years. At group level, the consolidated loss was 36.9 million francs after depreciation of 94.8
      211 words
    • Article
      Better results for Aker shipbuilding
      153 9 NORWAY'S Aker shipbuilding group reports better results than expected in 1977. The level of activity remains high, and idle capacity at some of the group's companies, early in the year, was eliminated by undertaking work for own account and in some cases by accepting contracts
      153 words
    • Article
      Rescue plan for Boussac
      213 9 THE French government is currently studying a 200 million franc rescue plan for the debt-ridden Boussac textile empire. The plan has Just been submitted by Mr. JeanClaude Boussac, the group's "managing director for life" and nephew of the organisation's founder, the 89-year-old Marcel Boussac. The plan
      213 words
  • Page 9 Advertisements
    • Advertisement
      Page 9 Advertisements Column 1
      32 9 INDCSUEZ Mxjrivoflcfcvide full service bank L'lN] mm CHINE tncorpo'MM f'ltf uaCMitf Shenton He use. 3 Stanton Way, Singapore 1 Tel *****11 (15 lines) TeteK tndocabßS2443s Cable irxJosu«Singapore PO 80*246 M£AO OFFICE: PARIS
      32 words
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  • DEALS DONE ON THE SES AND KLSE
    • Article
      In Singapore
      1485 10 BID and offer prices officially listed and business in and «reported to the Stock Ex- change of Singapore yester- day 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
      1,485 words
    • Article
      Government bonds
      86 10 5 1/4% 18/18/7* (250,000) (101.308 101.608) 4 3/4% 15/1/80 (250,000) (100.308 100.408) S% 11/4/81 (250,000) (100.658 100.758) 5 3/4% T F 15/4/81-84 (250,000) (102.908) 7% 15/4/85 250,000) (1) 101.12 5 J/4% T F 15/7/87 (250,000) (101.958) 5 V 4% T F 15/8/88 (250,000) (100.808) 6 1/4% T F
      86 words
    • Article
      Stock options
      39 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. Inchcape (June $1.90) (0.07B).
      39 words
  • Article
    Unit trusts
    145 10 SINGAPORE UNIT TRUST INCOME BOND UNIT |Mui|n' price The Commerce iter May 2) 1.97 1.09 INCOME BOND 1 SO 1.11 The 8artn» Fund 1.1* 1.23 MARA BUMIPUTRA FUND 8'pore Prof Fund 0.M ON (Maaagan' pricaa far Mm 1 S £<> re Security 8'pore Invest Fund 1.S1 1.92 1.10
    145 words
  • Article
    SHARE INFORMATION SERVICE
    2371 10 1978 High Low Company Last Sale +orGr'i Div Div Crr Gr'. Y'ld Net P/E Vol <'900) Day High Low SECTIONONE INDUSTRIALS 181 213 151 225* 77 265 183 358 422 154 132 123* 112 195* 60* 191 144 256 394 123 Ac ma Alcom Allied Choc Bata
    2,371 words
  • Article
    In Kuala Lumpur
    1824 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 A)ln*mat* (2 268 2 328) (1) 2.50 C 1.918 1958) (1)
    1,824 words
  • Article, Illustration
    Shares move higher
    900 10 SINGAPORE LOWER PRICED ahant demiastad trading oa Uw Stack, Exchange of Bia|«M'* yesterday with (aiai >«■<• ing beyond 38 per cent at the bright of activity. Punctuated only by ecoesional bouU ot profit-taking, moot ot theee countan moved sharply ahead oa a combination of abort-covering and speculative
    900 words
  • Article
    API sets the pace in KL
    615 10 VOLATILE Associated Plastics Industries and Mega Chemicals featured bullishly in fairly selective conditions at the Kuala Lumpur stock market yesterday. Both these counters were keenly sought right from the start to finish with very substantial gains over the day's trading. Associated Plastic Industries opened
    615 words
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  • COMPANY NEWS
    • Article
      CCB is likely to turn in record performance
      453 11  -  ■y STEVEN TAN CYCLE and Carriage Bin- tang's prospects for the current year ending September 1978 promise to be exciting. The company, In its second year as a publiclyquoted concern, looks set for signillcant growth helped along by the continued buoyant motor
      453 words
    • Article
      Metal Box
      44 11 METAL Box Bhd, Pan Malaysia Industries, United Holdings and Unlllte Electrical Industries have received notices from the 'Stock Exchange of Singapore to make payment of their annual listing fees, failing which the Exchange will consider suspension of trading of the companies' shares.
      44 words
    • Article
      Settlement
      40 11 SINGAPORE Finance has received a supplementary compensation of $463,120 for the government acquisition of its land at Robinson Road. The out-of-court agreement was in full and final settlement of its appeal against the original compensation payment of $1.41 million.
      40 words
    • Article
      Shangri-La
      32 11 SHANGRI-LA Hotel has informed the SES that only 41,750 shares were not taken up by members at their recent rights issue of five million $1 ordinary shares at $2.40 per share.
      32 words
    • Article
      Bumper results at Seacorp
      503 11 TRUE to its interim forecast, South-East Asia Development Corporation (Seacorp) has come up with a set of bumper results for the year ended Jan. 31 this year with group pre-tax profits moving to an alltime high of $4.6 million from $3.31 million last time. Although such
      503 words
    • Article
      Interim profit at Seal plunges
      303 11  -  By PHILEMON SOON THE latest interim results of South-east Asia Lumber (Seal) have, not unexpectedly, taken a dip after the bumper results for the last financial year. For the six months to Dec. 31 1977, pre-tax profits of the group fell 37.5 per cent from
      303 words
    • Article
      Bousteadco expects higher 1978 profits
      84 11 BOUSTEADCO anticipates that, based on prevailing economic trends and barring unforeseen circumstances, the current year's profits will exceed those of 1977. The company was replying to queries posed by the SES regarding the recently proposed rights issue. It added that its directors expect to maintain
      84 words
    • LATEST RESULTS
      • Article
        UNITED Malayan Flour Mills:
        47 11 Group profit before depreciation for the six months ended Jan 31. 1978 of $1.76 million ($1.76 million) on sales of $16.47 million ($16.00 million). Company profit before depreciation of 1.93 million ($1.31 million) includes tax exempt dividend from subsidiary amounting to $674,500 (Nil).
        47 words
      • Article
        KINTA Kellas Tin Dredging:
        29 11 Unaudited pre-tax profit for the year ended March 31. 1978 of $4.5 million ($6.31 million). Second interim dividend of 500 per cent (400 per cent).
        29 words
      • Article
        MATSUSHITA Electric:
        44 11 Group audited after-tax profit for the year ended Dec. 31. 1977 of $4.32 million ($2.56 million) after providing for taxation of $4.29 million ($3.37 million). Company after-tax profit of $3.64 million ($2.15 million). First and final dividend of 20 per cent (same).
        44 words
      • Article
        PAHANG Consolidated Co Ltd:
        39 11 Unaudited net profit of $1.32 million (1.52 million) for half-year ended Jan. 31. Interim dividend nil (5 per cent gross). The company saia reduced profit reflected rising costs and a fall in tin concentrate production.
        39 words
    • Article
      DIVIDENDS ANNOUNCED
      675 11 Current payment Ex Date Books close Date payable Total for the year Total for previous year Consplant Harrisons Bedford Litfui Dev. RenongTin Alcorn Rosy Elec. Aiinomoto Min Securities Mtia NST Central Sugars Rahman Hydraulic Carlsberg NSOP L'OB Guthrie Guthrie Ropel ST Steamship Bata (M) DBS Raleigh C.K. Tang
      675 words
    • Article
      SCRIP ISSUES
      272 11 Com puny Particulars Ex Date Books Close May 3 Bata (Ml Brrhtd Consolidated Bonus Issue of 1 for 3 Apr 20 Plantation* Bonus Issue of 3 for 1 Apr 21 May 4 May 4 May 4 May 10 Kempas (M) Bonus Issue of I for 4 Apr 21
      272 words
    • Article
      COMPANY MEETINGS
      358 11 United Oversea* Bank Ltd: AGM to be held at UOB Building, No. 1, Bonham Street, on May 12. Jack Chia Mining and Industrial: EOGM to be held at 2B, Chartered Bank Chambers. Beach Street, Penang. at 12 noon on May 12. Pegi Malaysia Bbd: EOGM to be held
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      284 11 RJNK&WAGNALLS lEW ENCYCLOPEDIA for the entire family Ij-ii HJNK »<■ WIN FUNK SSSSS.i 5 WAGNAIIA M<. WACNAIIi ■£*< -X"" **2~' «W MW j MKl<> SNCKIO- «nc*.io- KM TOA -ID" HM now rtOiA rr* *i i DA ■u *V«J <«•« iXTt <*0T rt== 1* chma CONTI •Mty 5 4 A»« •lizz
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    Indonesia's urea project to cross the tape first
    664 12  -  ■y RONNIE LIM INDONESIA'S urea project, one of the five under the Asean Industrial complementation programme, is progressing well and is likely to be completed first, said Japan's Minister of International Trade and Industry Toshlo Komoto yesterday. Mr. Komoto was speaking at
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    Lock icon Tokyo beefing up import quotas to 40,000 tonnes
    696 12 Reuter. JAPAN will raise Its beef import quota to at least 40,000 tonnes during the first, half of the 1978 fiscal year that began last month, compared with 35,000 tonnes during the same 1977 period. The Agriculture and Forestry Ministry which disclosed
    Reuter.  -  696 words
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    LONDON STOCKS
    711 12 PRICES closed lower In dull trading with activity restrained by fears of a possible rise In short-term interest rates, dealers said. At 3 p.m. the Financial Times index was down 1.3 at 464 4 Short-dated government bonds closed a net point easier after being 3/16 down earlier, while
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    Lock icon HK realty sector faces up to reality
    1234 12 LEASE EXPIRES IN 1997 Reuter MORE companies with properties in Hongkong's New Territories have taken steps to write down the value of such properties. These are the companies with 1997 on their minds. On July 1, 1997, the British government's lease on the
    Reuter  -  1,234 words
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    EEC banks hope for closer ties with Asean
    289 12 EUROPEAN banks In the near future may float more bonds In the Asian dollar market, with Cedel, the Luxembourg-based clearing house for Eurobonds, setting up closer links with Asean. This was mentioned last night by two &nlor banking executives, Albert Dodellnger, chairman
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    Lock icon Taiwan is second biggest
    82 12 AFP TAIWAN was the second largest electronic product supplier to the United States last year. According to official US statistics, Taiwan's exports last year totalled U*****.4 million (Ssl.s billion). Japan was the biggest supplier of electronic products and components and spare parts to the United States
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    Lock icon U.S. TRADE GAP WIDENS
    152 12 AFP. THE US trade deficit, based on the balance of payments, increased to US$ll.2 billion (5525.7 billion) In the first quarter of this year. In the fourth quarter of last year, the deficit was $9.9 billion. Imports, corrected for seasonal variations, rose by 6 per cent
    AFP.  -  152 words
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    SBS passes available to shareholders in August
    318 12  -  •t JOHN LIM SINOAPORE Bus Service (if"s) Ltd will issue concession passss, for unlimited travel on Its buses, from Aug 1 to those who have bought a minimum of 1,000 shares with CPF savings. These non-transferable passes will be made out In the
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    More selective
    132 12 MAJOR Chicago banks are continuing to expand their international tending but are being more selective where Interest rates are below what they consider acceptable levels. Continental Illinois National Bank and Trust Co's average overseas loans increased by more than 19 per cent in the first quarter to US$4
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      335 12 FROM FEDERAL PUBLICATIONS l IM BIAM YAM #4 m 3 a step~by~step guide An easy-to-understand yet fully rewarding book on flower arrangement. Floral Creations, with its unusually lucid text and thoughtful illustrations, could make an expert flower arranger of even the veriest novice. The joy of this book, however, is
      335 words
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    SHIPPING TIMES
    3623 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. t Consortium* Scan Dutch has a joint
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      554 13 THE BEST AND FASTEST WAT TO THE USA IS MAERSK UNE SINGAPORE *****46 K.LUMPUR ***** PENANG *****1 P. KELANG *****0 (K CA/t* r /iin Lineslnc <uSA) wv?vnTQiri Trans Pacific Service Full Container Service To USA FEEDER >SL SPORE MQTHEIVSL _HJ_ OAK LA GUI' Mat rain tram 14/5 30/5 1/8 9/6
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      479 13 SINGAPORt COSMOS SHIPPING CO (PTE) LTD 1104. ROBINSON 10. SPOtf. 1. TU NO ***** Tel *****33 <7 l.nct) ace u P. Klong loading for Dubai. Kuwait Hodeidah. Sue: Dubai. Kuwait Dubai. Kuwait Hodeidah Hodeidah Oubai. Kuwait U SAM ICk LINES (A member o' the Sam ick Group o' Companies LINER
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      528 13 J SHARJAH SHIPPING CO. LTD OAaj.- *Jj Ja 1 «X~ (UNIUD Ml EMIRATES) m fIHU SHIPPIOG Ufl€ wNJJ (UNITED ARAB EMIRATES) Siiw* AHII 4/7 |gnt Mill 27/21 My P KHa* P-n, 110 hm »/l Ati| GULF SHIPPING LINE (UNITED ARAB EMIRATES) •GULF MAJESTY 11/2R ton* 21/23 tent Dub* Abu •GULF
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      13 13 FORTNIGHTLY TO MIDDLE EAST LAND i DRT REFRIGERATED CONTAINER SERVICE BOOKING TEL *****22
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      809 14 SHIPPING Hapag-Lloyd FULLY CONTAINERISED TO EUROPE S'ptrc P KeUnj H hw| Bl i Rdini Lt Hanrt 24 5 26 5 27/5 29 5 31 5 16 2 6 1 6 5/6 22/5 26 5 28 5 24/6 26/6 EXPRESS CONVENTION TO EUROPE S'ptrc Mt<W| Ptfl I'lW Genoa H'twr| B'luvenl Rwdwjttw
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      834 14 Q SANKYQ LINE) AUSTRALIA SERVICE t. KHani Sinfapore Loading for KYOTEN MARU INPORT SAILED w> U «P inn LOG ISTIC ACE 6/« May YUE RIVER 13/14 May 15/16 May PRE ADEL, MEL, SYD MAY BREEZE 22/24 May 20/21 May BRIS, SYD, MEL BANGLADESH SERVICE SEA bloom 30/31 May 21/29 May
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      602 14 SEA ,LAND U.S.A./ ASIA SERVICE tr HfKUWa CMIUWt umci 2 I CANADA. CARIBBEAN JAPAN KOREA. TAIWAN HONS ROW. THAI LAND AND PHILIPPINES VESSEL/VOYAGE GATEWAY CITY V-696 PONCC V-324 GATEWAY CITY V-697 Vessel Arrives/departs .MAY 9/10 MAVI6/17 May 23/24 t.F.S Closes 5 00PM 40TH FLOOR. HONG LEONG BLDG 16. RAFFLES QUAY.
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      1013 14 LOADING FOR DURBAN CAPETOWN BUENOS AIRES Sing apart P Ketan| Penang PAMPA ARGENTINA W Transportation Maritima Maxicana S. A. p 2 "MEXICAN NATIONAL LINE" I 2 V FAR EAST MEXICO I CENTRAL AMERICA J R LOADING FOR ENSENAOA MAN2ANILLO ACAPULCO ACAJUTLA CORINTO 4 SAN lOSE PUNTA ARENAS (COSTA RICA) COATZACOAtCOS
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      421 14 mm JARDINE ANTAH 2 z ORIENT OvfR.SEAS Co*tlaiHeA Line FULLY CONTAINERISED SERVICE TO EUROPE (VIA SUEZ) NEPTUNE COML 7* NEPTUNE PEARL M CHEVALIER ROZE I* HKOMG CONTAINER 10 MERCATOR 6W ORIENTAL chief m S SEAS BRIDGE 16* P. Katmi SaTan laHatrt N*«| R'tom Antwerp 22/5 26/5 21/5 30/5 1/C 4/(
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      1438 15 GCL Overseas Containers Limited CONTAINERSNIP SERVICE TO UR/CONTiNENT: KfTRM MARU I MUM OAT USUCA MARU CITT If EIINOURCH KAMAKUM UM (•(MEN EXPRESS KUIIEI TQKIO L'X PRESS TNARKS HMD OSAKA lAY H'burf S pore P. Kelaflg D'mark Mai M May 12 Mar 21 May 12 May 2 Jaa II Mai I
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      1202 15 UK/COMTIMEMT (til tml) One Sinppora P. Kelanf Ftnanf •CRUACNAN Cl 3 < *JI 1/ I»» 4/ 5 May t Jaae lliltan. Amstertaai. Dub«.n, Liverpool. fROCLUS Sailed 11/11 Miy M B u l tU °L' St IVANHOCH 31/ 2 liH 1/ 4 Jim S Jaiy Lisbon. Liiioas, Hull. DM UK 'COHTIHINT
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      1113 15 BEN LINE CONTAINERS LIMITED Utmn r.uitnl KITANO MARU ftOWl o#m bay KASUCA MARU tin of reiNSURCM (AMAKURA MARU ■REMIN EIPRESS BEHALBER TOft 10 EXPRESS THAMES MARU 11 Mir II iU? II Mar n tin' NIK II Mat 1 MM 5 l«M I II JMt 11 laM H'IORC B HAVEN I'MK
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      869 15 Scan Dutch 9 A unique transport package Introducing the Scan Dutch 'Weekend Sailings Scan Dutch has introduced a weekly feeder service from Port Kelang to connect with their seven 3rd generation container vessels departing from Singapore every 10 days for Europe. Scan Dutch V First class transport Nedlloyd Lines jUST
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      640 15 GUTHRIE BOUSTEAD AGEMCIES THE BANK LINE LTD SINGAPORE *****4 PT KELANG *****1 KUALA LUMPUR ***** 1 PENANG *****1 REGULAR IHOEPEJMEHT SERVICE FESCO LINES FESCO STRAITS PACIFIC LINE FOR PACIFIC NOtTM t SOUTHWEST MV t CMEKMOV MV A. VEBMISNEV S port P. Klanf Peranj Tmani Mi, 12/11 May 11/11 May 21/22
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      860 16 (VIA SUEZ) ky Caataiaar Vassals to nmovi S'pore P. Kelang L.Havre H'burg Bremen R'dam A'wer NEPTUNE CML 7W 4 Ml* 5 Hajf 20 Hay 21 Hay 20 Haj 30 Ha» 1 laa NEPTUNE PEARL IV 17 Hay II May i)wt IhM SJaaa 10J«a 12 CiWAUER ROtt »W 73 Mar Hiy
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      977 16 E.C.-U.S.A./ATLANTIC/6IH.F SERVICE ACCEPTIN6 FCL/LCL CONTAINEKS Fit* S PORE, P. KELANC. PENUK Lud,« Mr: NORFOLK, NEW TOR*. HEW MUMS, HOUSTON Singapo" P. Ktlang Beltaan Penang "VISNVA MAtA" (MRU 22 SCI) 10/10 "•> 21/12 n/l4 lta E. C. GREAT LAKES SERVICE tu«Mf tar: NORFOLK. NEW TOM, MRNTREAL. TORONTO. ASHTAOULA. DETROIT, CHICAGO. Penang
      977 words
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      1013 16 NEPTUNE ORIENT LINES LTD •FULLY CONTAINERISED SERVICES: TO EOROPE (VIA SUtZj' S pore P. Kelang S H"burg Brem. MEPTMHE COKAU 4 Itoy 8 ,5 ifi ,S NEPTUNE PEARL 17 May "*1 CHEVALIER ROZE 23 Hay 25 May "J" HONGKONG CMTAINER 2J«a 3hm MERCATM IMm 91m I tN. CORAL S'para Clasiag
      1,013 words
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      674 16 W(Qi MALAYSIAN INTERNATIONAL SHIPPING CORPORATION BfRHAO TCL IL 2*1244. EXPRESS FULLY CONTAINERISED SERVICE TO/FROM M ED/UK/CON TINENT/SCANDINAVIA I, Stadtoia, I til, Mcliariii. 1) Ceatakatea. biw, 1) btm, 4) I a, UK. I) lull. Iwttw ifUl iaterae4iale urp to NM(tM( 1 mn. EXPRESS CONVENTIONAL SERVICE TO UK/CONTINENT Tf Mam P. Ktlanf
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      855 16 ENTRASEA (PTE) LTL-. c ibot House -IE! C Telephone- i i j^4o:>' yoiAgM'tiw rnMM IMEPENIENT SCW/FIU CONTAINER SERVICE T» EMME M LOB VINAT M.V KlHl (Caatr. ship) AEGIS HISPAHIC AISIS MILLIHIC S port P. Ktlanf Pl«a« li Pad S*.M >«r 1( HIT 12 Mm 21 M 27 Mir n May
      855 words