The Business Times, 17 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 17, 1978 50 CENTS
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  • BRIEFLY...
    • Article
      Lock icon Lifting export curbs
      78 1 Reuter. TOKYO, Tues. Japanese Trade and Industry Minister Toshlo Kohmoto said he hopes to remove Japan's export curbs, enforced from last month to trim Its large trade surplus, as soon as possible. He told a press conference the export restraints are to hold down the volume of
      Reuter.  -  78 words
    • Article
      Lock icon Buy American team
      79 1 Reuter. TOKYO, Tues. The United States will dispatch a high-powered selling mission to Japan In early October, with the aim of boosting exports to the country, and reducing the huge US deficit in bilateral trade, the American Embassy said yesterday. The mission will be composed of more
      Reuter.  -  79 words
    • Article
      Lock icon The Asean emphasis
      57 1 AP. TOKYO, Tues. Prime Minister Takeo Fukuda, discussing economic aid to Indonesia, said today Japan always has put emphasis on members of Asean and will continue to do so, a Foreign Ministry official reported. Mr. Fukuda's remarks came In a meeting with Widjojo Nitlsastro, Indonesia's coordinating minister
      AP.  -  57 words
    • Article
      Lock icon Opec cuts output
      60 1 Reuter. KUWAIT, Tues. Opec has reduced Its oil output by 20 per cent to 26 million barrels a day to eliminate the surplus In the world crude oil market, Kuwait Oil Minister Sheikh All Khalifa said here today. Sheikh All said the reduction was aimed at maintaining
      Reuter.  -  60 words
    • Article
      Lock icon Brazil-Korea trade
      67 1 AFP. SEOUL, Tues. A 39-member Brazilian trade mission from Rio De Janeiro today held the first Joint meeting of the Brazil South Korea business Council here to discuss ways of stepping up economic cooperation. A Joint communique said that the two sides agreed to Increase barter trade of
      AFP.  -  67 words
    • Article
      Lock icon Housing needs
      57 1 AFP. KUALA LUMPUR, Tues. A total of 1,740,000 to 2,058,000 houses will have to be constructed If the housing requirements in Peninsular Malaysia are to be met between 1070 and 1990. This estimate is contained in a research paper on "Housing Needs versus Effective Demand In Malaysia, 1976-1990,"
      AFP.  -  57 words
    • Article
      Lock icon Japanese index dips
      53 1 UPI. TOKYO, Tues. Japan's April wholesale prices dropped marginally due to the yen's appreciation against the US dollar, the Bank of Japan announced today. The wholesale price Index was 105.2 against 100 for 1975, down 0.4 per cent from March, and off 2.1 per cent from a
      UPI.  -  53 words
    • Article
      Lock icon Dow Jones
      64 1 UPI. NEW YORK, Tues. Stocks surged today In reaction to the dollar's strength abroad and signs of economic stamina at home. First-hour trading was the fourth heaviest on record. The Dow Jones industrial average was ahead 7.71 to 854.47 shortly before 11 a.m. First-hour volume totalled 13,520,000 shares.
      UPI.  -  64 words
  • Chief Price Changes
    • Article
      In Singapore yesterday
      133 1 Rises Most octive Sungei Besi 540 +20 Sime Darby 739.000 JC-MPH 589,000 Pahang Cons 559.000 Berjuntai 820 15 Goodwood Park 344 14 Tan Chong 332 12 Haw Par 471,000 Pacific Dev 302 12 OUT 175 10 Total Turnover: 11.07m King* Scl Coconuts 230 228 +8 +8 Total
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    • Article, Illustration
      In Kuala Lumpur
      158 1 Rises Most active Boustead Sea View L Perak A Amal Sg Best Guiness Berjuntai New Sdah EssoOrd 2.50 1.00 2.10 4.76 5.90 6.10 8.35 2.40 3.40 .25 +.10 .10 .10 .10 .10 .10 -.08 .08 F. Merlin 989,000 Pahang Cons 796,000 K L Kepong 565,000 UMW 506.000
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  • Article
    No tax burden on foreign trade
    1069 1  -  ODD MAN OUT IN ASEAN By RAHIM KASSIM OF THE five Asean countries, Singapore relies least on foreign trade taxes as a source of government revenue. A research project by two University of Singapore lecturers reveals that only 9.8 per cent of total government
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  • Article
    SIA to extend DC-10 lease
    190 1 SINGAPORE Airlines has started negotiations with Air New Zealand to extend Its lease of an ANZ DC-10 aircraft used for direct weekly flights to Auckland. It Is believed that SIA also plans to extend Its DC-10 lease with Malaysian Airline System. Both leases expire in
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  • Article
    Brunei funds converge on Singapore
    493 1  -  By SOH TIANG KENG THERE HAS been a steady Inflow of foreign funds Into Singapore since early this year. The bulk has gone Into bank deposits and manufacturing investment, while the local stock market has absorbed some. The funds have come mainly from Brunei, Malaysia,
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  • Article
    EEC-ASEAN MEETING
    55 1 THE European Economic Community (EEC) and Asean will convene a twoday meeting of their Joint economic study group In Bangkok on Thursday. The Joint study group, formed in May 1975, is charged with seeking ways of promoting economic cooperation between the Common Market and Asean. This week's meeting
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  • Article
    Lock icon US output up
    143 1 UPI INDUSTRIAL production, an Important indicator of the US's economic health, rose 1.1 per cent In April to register its second consecutive strong performance, the Federal Reserve Board said yesterday. The hefty gain In ouput of the country's mines, factories and utilities lent support to President Carter's
    UPI  -  143 words
  • Article
    Consumer index retreats for the second month
    287 1 FOOD prices continued to fall in April. The consumer price index (CPI) registered a small decline of 0.4 per cent to 153.4, making it the second consecutive monthly fall in the index this year. The 1.7 per cent fall in the index in
    287 words
  • Article
    Sime settles dispute over Orchard Towers
    441 1 SIME Darby Holdings has resolved the dispute over Orchard Towers through a final settlement with Mr. Chng Heng Tiu and his brother, the original vendors of Golden Bay Realty (Pte) Ltd, developer and owner of Orchard Towers. A High Court judgement delivered on March
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  • Article
    Hong Leong shines
    164 1 HONG Leong Flrtance has turned in a formidable performance In what has been a difficult year for finance companies in general. Group trading profit improved by 20 per cent from $6.2 million to $7.5 million and net profit rose 24 per cent to $4.4 million. For shareholders,
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  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      31 1 whatever you need in menswear,get it at... MOHAN'S DEPT. STORE (PTE.) LTD. 321, Orchard Road T* *****22 (next to Mandarin Hotel) Branch lOl.TangNn Shopping Centre TH *****49 Daily 9am -9 pm
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    • Advertisement
      Page 1 Advertisements Column 2
      33 1 BIRKART FREIGHT NEWS FOR COMPETITIVE FREIGHT RATES CALL BIRKART TEL: *****66 BIRKART SOUTHEASTASIA PTE tTD Suite 1004, CPF Building 79, Robinson Rood Singapore I Tel. No: *****66 (6 Lines) Telex: RS ***** JOBISEA
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    • Advertisement
      Page 1 Advertisements Column 3
      84 1 SHIPPING TIMES HIGHER living 1 standards on consumers' tnind 2 CASSETTE put* plant set up 2 PEOPLE in business 77 2 AUSSIE container l»«»^ii«n costs to rise 5 IS your firm adopting an animal? SWISS industries look to robuund 7 HARIMAU Investments is bounding along 11 DKP the long, long
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    • Advertisement
      Page 1 Advertisements Column 4
      255 1 TARQDTA LITE World S first *ith 2 sensors P PROGRESSIVE ENTERPRGE PTE. LTD The Lexikon 90combines the advantages of the golf ball and the ordinary typewriter. Lexikon 90 offers you the best of the golfball and fixed typing point machines The new Olivetti Lexikon 90 is the first electric typewriter
      255 words
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  • TRADE AND INDUSTRY
    • Article
      Expectations of rise in living standards
      622 2  -  LISTENING POST REPORTS By TSANG SAU YIN FOUR out of 10 consumers expect their personal standards of living to Improve In the next six months, while Housing and Development Board flat dwellers are more optimistic about their standards of living than nonHDB dwellers. Mere
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    • Article
      Call to set up joint rubber research fund
      451 2 THE NEW international energy situation and its impact on elastomers have put natural rubber in a totally new setting. This was disclosed by the chairman of International Rubber Research and Development Board (IRRDB), Tan Sri B.C. Sekhar. The situation calls -for a
      451 words
    • Article
      Lock icon BIGGEST MARKETS FOR HK EXPORTS
      200 2 AP. HONGKONG'S exports In the first quarter of 1978 totalled HK17.7 billion (553.85 billion), up by 6 per cent from a year earlier, the Census and Statistics Department reported yesterday. The United States remained Hongkong's biggest market, buying $2.8 billion worth of goods, up 8.9
      AP.  -  200 words
    • Article, Illustration
      Giving a lion's share
      132 2 MR. Desmond Neil], general manager of the Fraser and Neave group, yesterday went into the lion's den, as it were, when he presented two cheques for *10,000 each for a year's maintenance of the 15 lions (four males, 11 females) and logi Mir Singapore ZooMr. Neill
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    • Article
      Kwong Yu will invest $3m more
      356 2 KWONG YU Industries (S) Ltd. a manufacturer of PVC compounds, is to invest about $3 million in the next few years as part of its diversification. This will bring the company's total capital investment to $5.5 million since it started in 1969. It has
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    • Article, Illustration
      PEOPLE IN BUSINESS
      212 2 ADAM Fleming has been appointed the new managing director of Jardine Fleming Singapore. He replaced Christopher Grubb who is taking up a new appointment in Hongkong. Rollei Singapore has appointed Ratna Singam as head of its personnel division. Mr. Singam. 54, married wit two children, was a
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    • Article
      Lock icon Asean tackles fishing problems
      176 2 AFP MALAYSIAN Agriculture Minister Datuk Sharif Ahmad said on Monday a decision had been reached by the five member countries of Asean to study and overcome jointly problems pertaining to the fishing industry. He said that this was one of the long-term plans in ensuring the
      AFP  -  176 words
    • Article
      ONE-MONTH NOTICE STAYS SAYS RTS
      127 2 notice for cancelling advertisements on preferred spots still appHes, Radld and Television Singapore said yesterday. Replying to statements made by Mr. Patrick Mowe, president of the Singapore Advertisers' Association, RTS said that a threemonth notice of c&nc6ll&~ tion has been implemented Is incorrect. However, it
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    • Article
      Assembly plant for cassettes
      358 2  -  ■r JOHN LIM TANASHIN Denkl, the Japanese cassette mechanism manufacturing giant, has set up an assembly plant here. The plant will be run by Tanashin Singapore Pte Ltd, which will occupy half a floor, about 1,900 square metres, at the PSA flatted factory cum warehouse complex
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    • Article
      SEWERAGE EQUIPMENT
      80 2 A JOINT venture company, Simon-Hartley (SEA) Pte Ltd, has been set up by Time Engineering (S) Pte Ltd and Simon-Hartley Ltd. the Simon Engineering sewage and water treatment engineers of England. The new company will provide technical services and promote the sales of sewerage equipment in this region,
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    • Article
      MEMO PAD
      231 2 DATE TITLE VENUE ORGANISER COURSES AND TALKS May 8- Aust. Insurance Institute Aug 17 Associateship Course SITC May 15-Compensation Employee June 5 Benefits Hilton SITC POD May Managing a Sales 16-18 Force Hilton Consulasla May Cost Control for 18-19 Managers May 19 Fundamentals of industrial process control Instrumentation
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  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      85 2 This announcement appears as a matter of record only May 1978 KUANTAN BEACH HOTEL SDN. BHD. 9,000,000 Malaysian Ringgit Term Loan To finance the construction of HYATT KUANTAN Managed by UDA Merchant Bankers Berhad Provided by Bank Bumiputra Malaysia Berhad The Hongkong and Shanghai Banking Corporation Oriental Bank Berhad Oversea-Chinese
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      600 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE 1 One's desire is to be a famous cricketer (6) 7 There's an hour and an age for this meal! (8) 8 Ancient Egyptian cardgame? (4) 10 The field of mowing (6) 11 He has spirit, if nothing else (6) M Lake the weather In Crewe
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  • OVERSEAS
    • Article
      Lock icon Erratic items give UK a record surplus
      594 3 Reuter. A LARGE turnround In the net trade balance on diamonds and other regularly erratic items like ships, aircraft and oil together with a sharp fall in Imports, switched Britain's external payments Into a record current account surplus In April of i' 336
      Reuter.  -  594 words
    • Article
      Lock icon FOREIGN DISCLOSURES WILL HIT U.S. FUTURES
      632 3 Reuter. US congressional pressure for disclosure of foreign involvement in commodity markets in New York could deprive the American futures industry of its international support. The Commodity Futures Trading Commission (CFTC) recently agreed to publish quarterly statistics showing foreign Interest in the New York
      Reuter.  -  632 words
    • Article
      Lock icon Practical Norwegians await the pinch. . .
      974 3 Practical Norwegians await the pinch. Reuter. NORWEGIANS celebrate Constitution Day, their biggest national festival, today well aware that North Sea oil can no longer be seen as a short cut to prosperity. Even though Norway is the first Western state to become a net oil exporter, there are no longer
      Reuter.  -  974 words
    • Article
      Lock icon US budget deficit cut by $23b
      151 3 Reuter A JOINT committee of the Senate and the House of Representatives has slashed nearly US$lO billion (Ss23 billion) from President Carter's proposed budget deficit. The committee, concerned about the threat of renewed Inflation, agreed on a spending plan for the 1979 financial year
      Reuter  -  151 words
    • Article
      Lock icon Bond issue
      42 3 Reuter. THE US Securities and Exchange Commission said Australia has filed for' an offering of US$l5O million of five-year bonds due 1983 and US$lOO million of 16year bonds due 1093 to be underwritten by Morgan Stanley and Co Inc. —I
      Reuter.  -  42 words
    • Article
      Lock icon Six-month Treasury bill yields rise at auction
      286 3 Reuter. AVERAGE effective yields •a US Treasury bills fell to 6.318 per cent for threemonth bills but rose to 7.014 per cent for six-month bilk at the latest weekly suction. The yield on three month bills was off from 6.464 per cent a
      Reuter.  -  286 words
    • Article
      Lock icon Fighting holds up Zaire's loan
      203 3 Reuter. FIGHTING in Zaire may delay flnalisatlon of a loan of more than U***** million (***** million) to the country agreed to by a of International Informed banking sources said documentation for the loan Is In the hands of the Zaire Central Bank and completion
      Reuter.  -  203 words
    • Article
      Lock icon Petrodollars are still pouring into America
      1031 3 Reuter OIL-EXPORTING nations may be Increasing their investments in the United States, showing they have not lost confidence in the dollar, U8 Treasury Undersecretary Anthony Solomon said on Monday. 81nce the four-fold Increase In oil prices In 1973, about 25 per cent of all
      Reuter  -  1,031 words
    • Article
      Oil tariff won't aid dollar
      863 3 IT WOULD be a mistake for the Carter administration to Impose a tariff or quota on oil imports as a means of preventing the dollar's decline, Citibank NA said. In its monthly economic letter, it said the widely held notion that the dollar's decline has
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    • Article
      Lock icon Carter signs farm bill
      239 3 AP. PRESIDENT Carter signed the emergency farm legislation on Monday and announced he is raising the target price on 1978 wheat to US$3.4O (SSI.80) a bushel, an increase of 40 cents, as authorised In the BUI. His action, designed to compensate growers for extra costs in
      AP.  -  239 words
    • WORLD IN BRIEF
      • Article
        Lock icon REVIEWING PROBLEMS
        522 3 Agencies A COMMISSION on ICOnomic cooperation between industrialised and developing nations opened in Bamako, Mall on Monday. The commission, formed to review problems poeed at the Paris North-South Wlu. la to discuss stabilising the prices of raw materials and aid to Third World countries. PERU sharply increased the
        Agencies  -  522 words
  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      127 3 isn't a 'go-go', it isn't a dive, I It's small and it's cosy and always alive With people discerning, who know what is best When eating and drinking are put to the test There isn't an orchestra, you will not find An alley for bowling or things of that kind,
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    • Advertisement
      Page 3 Advertisements Column 2
      114 3 YOU NEED AN INTERCOM YOUR RECEPTIONIST NEEDS AN AIPHONE When you instal an Aiphone In tercom System m your office, your Receptionist can actually stay at the front desk Instead of chasing you down, she can push a button and page Your Receptionist needs an Aiphone for more efficient use
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER
      431 4 PRICES opened fractionally lower In the Singapore rubber market yesterday following lack of followthrough from London. But later, values recovered on some forward demand up to April/ June 1979, particularly from upcountry. However, the market turned very quiet and prices tended lower as the earlier buying
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    • Article
      RAS PRICES
      305 4 R A S prices tn cents per kilo yesterday: Noon Close :per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R S 8. prompt f.o.b. 200.00 209.00N 207.90 208.90N Int. 1 R 8 8 June 206 23 209.90 208.30 208.78 Int. 1 R.S.8 July 210.00 210.29 209.29
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    • Article
      SSR AND SMR
      105 4 NOON SSR and SMR prices yesterday: June July RAS (Current Mth) (Per ward Mth) Buyer* Seller. Buyers Sellers (cente per kf) (cet its per kg) SSR 20 (1-ton pallet) 199.50 201 50N 200 50 202 50N SSR 50 (1-ton pallet) 197.50 199.SON 198.50 200 50N M.R.E.UB SMR5CV
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    • Article
      Palm oil
      79 4 C I F North European ports, in US dollar per ton unless otherwise Stated LONDON: Monday Previous Malaysia 5% (fa bulk per tonne 590 sir 585 Sir July Sumatra 5% ffa bulk 650 sir May unch June (M0 sir 625 sir July 600 slr/597 *pd 595 sir August
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    • Article
      Closing prices
      30 4 Rubber: May IS Singapore: June 208.50 cent* (down 1.25 cent*) Malaysia: June 214.25 centa (down 1.25 centa) Tin: Mil,612 (down $13) Official offering: 227 tonnea (up aeven tonnea)
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    • Article
      Sugar
      197 4 SUGAR futures In London yesterday morning finished the first call at or Just below Monday night's steadier kerb levels. Onbalance gains ranged from £0.70 to £0.45 per tonne. Dealers said the market was kept in check by steadiness of sterling while the Colombian selling tender for 11,000 tonnes of
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    • Article
      Produce exchange
      385 4 STEADY conditions prevailed in quiet trading on the Singapore produce market yesterday. Small lots were sold to nearby countries on consumer accounts. The pepper market turned softer after an improvement late last week when prices were marked up 110 per plcul in some cases. Prices however, remained unchanged
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    • Article
      Coffee
      530 4 ROBUSTA futures in London yesterday morning opened steady £19 to £5 per tonne higher from Monday night. 388 lots were traded. Trafde, commission and broker house short-covering combined with fresh speculative chart buying pushed values higher during the opening call. Dealers said there was no change in fundamentals. But
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    • Article
      Cocoa
      366 4 TERMINAL cocoa in London yesterday morning was relatively steady despite finishing the first call down from Monday by £3.50 to £10 per tonne partly due to steadiness of sterling. Post call trading, however, saw prices move sharply higher for eains of as much as £24.50 although the basic tone
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    • Article
      Wheat
      187 4 WHEAT futures on Monday finished the session at the day's highs or within one cent of the best levels, with final prices up USB% to 10 cents a bushel In Chicago. Strengths In other pits encouraged support In early dealings and prices rose on local and commission house buying
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    • Article
      Soybean
      105 4 SOYBEAN futures in Chicago reduced earlier gains late in the session but closed US 4V4 to Vt cents a bushel higher on Monday. May and July posted the best gains, with July finishing at $7.21 a bushel. Reports of good amounts of farmer selling over the weekend and weekend
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    • Article
      Straits tin
      295 4 THE STRAITS tin price in Penang yesterday dropped MSI3 per picul to $1,612 per plcul on an official offering up seven tonnes to 227 tonnes. In LONDON yesterday, tin declined by around t'62 per tonne for cash and £45 for three months standard metal. High grade was €02
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    • Article
      Zinc
      95 4 ZINC was 10.25 per tonne higher for cash and 10.50 higher for three months at the end of the morning ring in London yesterday. This market steadied in line with other metals during early dealings, with three months trading up to 1315 per tonne. But on the ring profit-ta-king
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    • Article
      Hongkong comex
      164 4 THE sugar futures market closed US 0.02 cents lower to 0.04 cents higher in continued dull trading yesterday. Turnover remained at four lots. Hongkong dally spot sugar price rose 0.10 to 7.20 cents, while net open positions totalled 37 lots after Monday's trading. SUGAR futures closing prices Closing
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    • Article
      SPOT PRICES
      199 4 YARN and cotton In Hongkong dollars, spot ex-godown: Cotton Yarn: China Blue Phoenix 20s 1 760. 32s 2.140 40s 2.270. (per bale of 400 Iba). Piece Goods: China Butterfly and Olobe Brand unq. Dragon Head unq. Five Lambs unq. Flower and Butterfly unq. Flying Oeese unq. (per piece
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    • Article
      Rice
      210 4 BANGKOK rice prices yesterday were unchanged from Monday's: (US dollars per tonne FOB bull Bangkok): Wkite Rice: 100 pet lit clan 442. 100 pet 2nd class 427. 100 pet 3rd class 422. 5 pet 413. 10 pet 400. IS pet 302. 20 pet 387 25 pet 377 35 pet
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    • Article
      Copper
      394 4 COPPER wirebars yesterday morning showed gains of i' 3 per ton all round. Values edged higher In the early pre-market with dealers cjtlng the Zaire situation and overnight gains in US futures as the main firming influences. Three months traded up to 1724 before profit-taking and hedge selling shaded
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    • Article
      Silver
      103 4 SILVER on the LME closed 1.4 pence higher for cash and 1.5 pence per troy ounce higher for three months on Monday afternoon. Values moved higher during the afternoon on light fresh buying and shortcovering prompted by a steadier New York market. In NEW YORK on Monday. comex silver
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    • Article
      Gold
      404 4 THE kllobar in Singapore yesterday opened at 5513,360 and eased to $13,327 Immediately after opening. After touching the lows, the market rose throughout the day before closing at a high of $13,416. In the London market, the metal opened at U*****,10/ 40 and closed at $177.00/30. The London morning
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    • Article
      Lead
      72 4 LEAD yesterday ended the morning ring 10.75 and 11.50 per tonne lower for cash and three months, respectively. Prices moved higher in the pre-market following the trend In copper and three months traded up to C 306 per tonne. However, there was no follow through interest, which dealers said
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    • MONEY AND EXCHANGE$
      • Article
        Singapore market
        454 4 THIN TRADING characterised the foreign exchange market yesterday with the US dollar holding its own against other currencies. Against the Deutsche mark, the US dollar opened at 2.1215/25 and moved up 10 to 20 points at noon. When London opened, the dollar came down again to reach 2.1205/15
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      • Article
        Asian $ and CD rates
        217 4 Asian and CD rates ASIAN currency deposit interbank rates as at close on May 16 IS Dollar* (Spot! Offer Bm) 7 duys 1 mlh 2 mths 3 mths 6 mths 9 mths 12 mths 7 9/16 .711/16 .7 7/8 8 1/15 8 5 16 8 7/10 81/2 7 7/16 7
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      • Article
        Discount
        46 4 RANGE of prices offered by discount houses on May 18 Overnight 2% to 3%% Call deposits 3(4* Closing Buying Selling 3-month Treasury bills 31/4 3 1/8 3-month Bank bills 47/8 4 S/4 3-month CD 415/18 413/18 8-month CD 53/18 Si/18 Source: National Discount Co. Ltd.
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      • Article
        MLR
        21 4 THE average rale at which Singapore banks are currently prepared to lend to their beat customers is 7 per cent.
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      • Article
        Hongkong
        126 4 THE US dollar yesterday closed slightly firmer than overnight levels in New York partly aided by the psychological Impact of congressional approval for President Carter's aircraft sales to West Asia. After an early flurry In the yen, trading was slow due to lack of overnight European orders after Monday's
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      • Article
        Euro $ rates
        111 4 Euro rates EURODOLLAR deposit rates yesterday showed little change from overnight levels in quiet opening trading. However, overnight lost 1/8 7-3/8 7-1/4 per cent as bid interest faded and funds came on offer. Other short dates were unchanged. Among steady fixed dates, six months softened 1/16 to 8-5/16 8-3/16 per
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      • Article
        New York
        267 4 THE US dollar ended firmer against most currencies In quiet, thin trading on Monday as many European centres were closed for the Pentecost holiday. Dealers said the currency was bolstered by President Carter's agreement to a reduction in his tax cut plan and to the trend towards higher
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      • Article
        London
        213 4 STERLING and the dollar both opened higher yesterday, reflecting positive sentiment for both currencies. Dealers said the aura of weakness that has recently surrounded sterling has been temporarily dispersed by news of the 1336 million UK April current account surplus. But dealers caution that imported oil platforms may crop
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      • Article
        Tokyo
        172 4 THE US dollar for overnight delivery closed at 226.25 yesterday, up from a 226.00 opening and 225.95 at Monday's close. Trading was lieht with volume US$332 million. The dollar eased in late trading on selling by Japanese banks to cover sales of dollar export bills by Japanese traders and
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      • Article
        Australia/NZ
        58 4 AUSTRALIA/NZ exchanges quoted on May 16 AUSTRALIA: US dollar 1.1300/1 1252 Sterling 0 6229/0 6158 Ninety-day air mall buying rates: Sterling 0 6422 US dollars 1.1611 Ninety-day forward buyln| rates: Sterling 0 6250 US dollars 1 1258 NEW ZEALAND Sterling 0 5553/0 5522 US dollar 1.0135/1 0035 Ninety-day airmail
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      • Article
        Frankfurt
        41 4 FRANKFURT exchanges opening quotes on May 16. US 2.1210/25 Can 1 9130/50 Slg 3 862/872 Dfl 83 37/47 Sfr 108 50/65 Lit 2 428/438 Ffr 45 25/40 Nkr 38 75/85 Brr con 6 40/41 Bfr fin 6.39/41 Yen 0.9360/ 80
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      • Article
        Eurobonds
        256 4 EUROBOND prices quoted on May 18 Straight* Bid Offer Total oil st|9 125 84 FFlst«9 7S87 92.75 93 75 90.50 91.50 Courtauldsstg #758# 89 50 90 50 EIB llg 9 75 92 93 50 94.50 Elaons st( 10.2587 93.75 94.75 Inco9 92 96.37 96.87 Inco8 25 84 97 37
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  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      131 4 MAGNUM CORPORATION BERHAD REVISED ANNOUNCEMENT With reference to the Second Interim Dividend of 10% less Income Tax declared by the Directors on 12th May 1978 and payable on 16th June 1978 to Shareholders whose names appear in the Register of the Company at the close of business at 12 noon
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  • TRANSPORT
    • Article
      Handling costs going up at Australian ports
      664 5  -  ■y TERESA LIM MOST shipping lines serving Autr&lian ports will be affected by an increase In container handling costs. Barly this year, Seatalner Terminal Ltd's (STL) application for a rate hike was approved by the Australian Trade Practices Tribunal. STL operates terminals in
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      Far East freights
      634 5 OWNERS are having financing difficulties and some banks are treating the value of idle ships at scrap. The solution is to keep the ships working or send them for scrap. There are numerous cargoes looking for ships and trade is slowly picking up. Shippers and consignees are
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    • Article, Illustration
      SHIPS IN PORT
      437 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Al Yamamah (after Oudrun Bakke) 47 Blndang (0600) Cherry Vltja (B. Barge) (after Ocean Supply sails) 46 Chidambaram (1200) 42/43 Crown Cherry (after Bunga Blndang sails) 18 Fortune Runner (1400 after Idaho L Kathryn Maru berths) 6/7 Fushlml Maru (0700 after Frotarlo)
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    • Article
      Lock icon US House eases hold on airfares
      407 5 Reuter AP. THE US House" ol Representative's public works and transportation Committee passed A Bill easing Federal regulation of airline routes and fares. The Bill will allow each airline to pick one new route without prior Civil Aeronautics Board approval in the first year
      Reuter; AP.  -  407 words
    • Article
      PanAm stays clear of Narita
      108 5 PAN American World Airways said on Monday it will not fly into Tokyo's new Narita airport, due to open this Saturday, until it is satisfied with security arrangements. A spokesman for the airline said PanAm staff were at the airport and filing dally reports to
      108 words
    • Article
      Lock icon OCEAN TRANSPORT HIT BY SLUMP
      176 5 Reuter. OCEAN Transport and Trading of UK expects considerable profit drop this year because of the world recession, the continuing slump in bulk shipping, Increased competition in liner trades and West African delays. Chairman Lindsay Alexander said pre-tax profit last year was £39.08 million (Ssl6B
      Reuter.  -  176 words
    • Article
      Leonardo da Vinci procedure
      92 5 THE LEONARDO da Vlncl International Airport In Rome has Introduced new measures to smooth checkin and boarding of transit passengers between connecting international flights. Under the procedure Introduced on March 15, check-ins will take place at the boarding gates instead of at the International interline transit
      92 words
    • Article
      Lock icon Towards a safer channel
      126 5 Reuter. BRITAIN and France effected a Joint contingency plan for dealing with shipping disasters In the English Channel. The plan, called Mancneplan. was drawn up by the Anglo-French Safety of Navigation Oroup (Afsong) after the Amoco Cadis oil tanker ran aground In Msxch off the French
      Reuter.  -  126 words
    • Article
      Lock icon London freight market
      272 5 AP NORTH American grain trades continued to dominate chartering proceedings, particularly timecharter business, on the London freight market on Monday. Docenave took a 50,240 dwt loader for a trip to Brazil after prompt delivery US Gulf at the rate of U554,975 (Ssl 1,440) per day while Mardorf
      AP  -  272 words
    • Article
      Lock icon MARITIME SATELLITE
      61 5 AP. LEGISLATION to clear the way for US participation In a global maritime communications system by satellite was passed unanimously by the House of Representatives on Monday. The measure, which now goes to the Senate, would designate Comsat, the existing, privately owned satellite communications corporation, as the US
      AP.  -  61 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      620 5 ARRIVALS atmot LocmJ O perm tor Number Time From TMA TL374 0530 TPE MAS MH882 0725 KCH CPA CX710 1005 HLP OIA OA980 1J30 HLP THAI TQ423 1035 BKK 1 SIA SQ209 1045 HLP 1 THAI TG981 1120 BKK OIA OA944 1055 PKU OIA OA0O8 1100 MES
      620 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      466 5 SINTAT Rent-a-Car SINGAPORE AIRPORT TEL *****S CITY TEL 23fiS8S'> Call us for your local or onward reservations ■J\T Mil from Penguin Mbolf IN PENGUINS J* 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
      466 words
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  • Article
    FASC exertions admirable
    630 6 IT IS a little strange that shippers and not shipowners should be discussing the formation of a shipping conference. To some extent, the Federation of Asean Shippers' Council demonstrates the urgency It feels about shipping In South-east Asia by moving into an area traditionally outside its purview.
    630 words
  • Article, Illustration
    A sanctuary for animals in our concrete jungle
    1906 6  -  •r TSANG SAU YIN IN A country such as Singapore where people bash a python as soon as look at it, shoot at any shadow in the trees, dVfrand that honey bees v be- exterminated, and benave as if chlk-chaks were repulsive
    1,906 words
  • Article, Illustration
    Up for adoption
    237 6 10 sealions, together with seven penguins in their enclosure, cost $20,000 a year. At 1.3 metres height, 42 kg each, they eat about 2.5 kiloa of fiah a day each. There are four Islands of white-handed agile gibbons, about 12 gibbona in all, at $10,000 a year
    237 words
  • Article, Illustration
    Adopted ... without an eye to tax exemption
    123 6 Adopted without an eye to tax exemption By Cheng Kim Loke Foundation, $5,000 a year the 0.9 metre-high, 300 legs tapir eats 1 kg herbi-chow, 2 kg* omniration and 8 kgs leave* daily. Four females and 11 male*, by Fraser and Neave for $10,000 a year. About 1 metre tall,
    123 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      419 6 w i i sinGapura FORUMS HOTEL OMtaMM W Orchard Road. B'pora 9. Tti: S7IU2 Pebble Bar Experience the unique expression of T&nla 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
      419 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      62 6 WEA THER outlook for Singapore from 6 a.m. to noon today: Generally fair. Report for 24 hour* prior to 7.30 p.m. on May 16 at the airport. Maximum Temperature 32.4° C Associated Humidity 75 Minimum Temperature 25.0° C Associated Humidity 96 Hours of Sunshine 3.75 Rainfall in Millimetres 11.4 Total
      62 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      278 6 SINGAPORE 5 3.00 PM Opening announcements followed by On Duty with Christoph 4° 3.25 Diary of Events (Malay) 0 3.30 Bonanza Terror At 2.00° 4.20 Intermission 6.00 Opening announcements followed by December Bride Budget Show 6.30 News in Brief 0 6.35 Wild, Wild World of Animals Great Indian Rhino* 6.00
      278 words
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  • Article
    Lock icon Windfall for Swiss export industry
    964 7  -  Recent regulation* imposed by the Swiss National Bank are causing foreign funds to flee the country. With the pressure off the Swiss franc, the nation's export industries will benefit. NORRIS WILL ATT reports: NORRIS WILLATT FT. AN UNKNOWN but considerable number of Swiss who earn
    FT.  -  964 words
  • Article
    Lock icon Egypt's rickety telephone system
    862 7 AP PICK up a telephone in Cairo, and the odds are three-to-one against completing a call. Telephone users face long waits for dial tones, a good chance of connecting to the wrong number, and the prospect of having their ears assaulted by extraneous bangs, shrieks and
    AP  -  862 words
  • Article
    STRAWS IN THE WIND
    470 7 RUNNING a zoo Is no Joke, as our run-down on the Singapore Zoo on page 6 and this page today will no doubt convince you another zoo, the Washington National Zoo reports that its annual shopping list Includes 96,000 rats, 114,000 live crickets and 180,000 maggots,
    470 words
  • Article
    Getting that message across
    832 7  -  FOBUHj ...0D management I •y JUZAR MOTIWALLA IN THE early 60s President Kennedy ordered the removal of missiles stationed ir\ Turkey. Some time later, during the Cuban missile crisis, the Russians proposed that removal bf their missiles In Cuba should be linked to the removal of
    832 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      326 7 TODAY «OKOH Lunch m •> 3 branches for your convenience: SINGAPORE OKOH Supreme House, Penang Road. Tel *****1 OKOH OF GINZA Hong Leong Bldg., Raffles Quay. Tel *****81 KATSURA Orchid Inn, Dunearn Rd. Tel: *****2 What is it about the Imperial Bar that brings them in night after night? The
      326 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Page 7 Miscellaneous Column 1
      33 7 BriStcW :Enmk£ncliais LRCKW>Vy c,IR CH€JS,TeR- ffe-KRY, OOfc FifcrrvS FoJrJDtR. Mf\s ONCC RexyzeTfuu-V DOOW THE. »Nivirp»To»si to r He Fißm'S Dlt4N£.f?. Pmmd ownMf DAMN! £1 I OJAS SO LOOKING FORWARD TO ueR£\NG T>W CXcctftfTiOilS
      33 words
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  • INTERNATIONAL STOCKS MARKETS
    • Article
      Lock icon Prices fall sharply
      592 8 TOKYO Source: DBS-Daiwa. PRICES declined sharply on widespread small-lot selling. Liquidation selling hit blue chips on a board front towards the close. Lacking the incentive of any large Institutional purchases, Investors hesitated to pick up perennial market favourites, which suggests a prolonged price adjusting period. Though Investment
      Source: DBS-Daiwa.  -  592 words
    • Article
      Lock icon Hongkong
      398 8 Source: Sun Hung Kai Sec Ltd. THE market gained further ground yesterday morning on the back of Wall Street, the cut In the size of the MTR note offering and a lack of selling orders. Aggressive buying of HK Wharf took It up to 19.00 while HK Land was
      Source: Sun Hung Kai Sec Ltd.  -  398 words
    • Article
      Sydney
      342 8 PRICES of leading snares yesterday rose snarply and most closed well up despite after- noon falls, dealers said. Overseas buying and a strong Increase In business spending revealed in the March quarter statistics added to the bullish tone, with BHP rising to a new 1978 high of $6.76, closing
      342 words
    • Article
      Manila
      109 8 THE market firmed yesterday. Turnover rose to 4.60 million pesos from 2.60 million on Monday. Dealers said mines led the rise with commercials and oils firming slightly. MAY l« Pesos 4-/-Acoje Mining 01 unch Atlas Con A Atlas Con. B 13 40 unch Buguio Gold 0072 unch BenguetCon B
      109 words
    • Article
      Bangkok
      150 8 MAY 1« Bah U Asia Fibre 263 unch Bangkok Bank 377 unch Bangkok Invest. 372 unch Bangkok-Metro-politan Bank Bata BerllJucker 480 -2 CarpetIntnl Charoong Thai Wire 310 19 Dumex Dusit Thanl 350 22 Faber Merlin First Trust 3D 1 Oenera Finance 373 -1 Indo-Thal Industrial Finance Corp 2525 •10
      150 words
    • Article
      INCOME UP
      66 8 PHILIPPINE Long Distance Telephone Co announced first quarter net earnings of 45 million pesos (41 million) on operating revenue of 145 million (130 million). Earnings are after expenses of 83 million (77 million). Earnings per share come to 5.96 pesos (4.80). A company spokesman said the company Invested
      66 words
    • Article
      Shares end strong
      1095 8 NEW YORK STOCKS raced to a strong cloae in the final minutes on Monday overcoming profit-taking that had deprened prices moat of the day. Analysts said the gain was Impressive in the face of the further credit tightening widely expected In Wall Street to emanate from yesterday's
      1,095 words
    • Article
      Toronto
      326 8 SHARE prices closed firmer on Monday In active trading as sharp gains in real estate, transportation and communications Issues led the market higher. Qolds and oils lost over 12 points but the composite index was up more than two points and winners led losers 229 to 202. Denlson Mines
      326 words
    • Article
      Jo'burg
      396 8 OOLD shares eased slightly, towards the close on Monday to finish mixed as overseas interest declined. Dealers said mining flnancials were mixed In line with producers. Amgold and Oenmln both gained 25 cents to 2750 and 2725 respecUvely while Charter Cons fell three cents to 315. De Beers lost
      396 words
    • Article
      Milan
      134 8 PRICES firmed In selective trading on Monday. Dealers said leading industrials firmed as did banks and insurances. Financials were mixed with Slfa unchanged and Oenerale Immoblllare marginally lower. Bonds were higher in moderate trading MAY 11 Lire Anlc 102.75 ♦4.75 Aiaoc Oen ***** 290 Bastojl 445 10 25 Centrale
      134 words
    • Article
      Selected indices
      61 8 FINANCIAL TIMES INDUSTRIALS Monday 485 0 Friday 488 3 Week Ago 480.1 DOW JONES AVERAGE INDUSTRIALS Monday 848.78 Friday 940.70 Week AfO 824.58 LONDON DOLLAR PREMIUM Monday 108% to 109% Friday 100* to 100* H.K. HANG SENG Tuesday Monday Week Ago SYDNEY INDUSTRIALS Tueaday Monday 424 02 Week
      61 words
    • Article
      Lock icon FOREIGN IMPETUS NEEDED
      222 8 Reuter SYDNEY: Foreign lavMtor interest will provide the impetus to raise Australian uin price* any substantial degree In the year ahead, Km Hyden, managlag partner at Melbourne toekbroker, A.C. Qooda and Co, said. Addressing aa ——la outlook eonforonea organised by the Australian Society of Aooountanta and the
      Reuter  -  222 words
    • Article
      Lock icon Body snatching fever grips Wall Street
      1557 8 NYT THE United States' most prestigious brokerage firms are wooing their competitors' star brokers with huge bonuses, inflated commissions and paid-up insurance policies. Some are pirating entire brokerage offices, paying a bounty to office managers for each employee brought along In the switch. Hired
      NYT  -  1,557 words
    • Article
      CHICAGO BOARD OPTIONS
      1396 8 May 15 VOLUME on the Chicago Board Options Exchange fell to 145,704 contracts from 215,025 contracts on Friday OPTION JLY OCT JAN STOCK Alcoa 40 3/4 T 9/8 UNTRD 48 5/8 Alcoa 46 31/4 41/4 414 46 84 Alcoa 90 21/8 11/4 3 48 64 Am Tel
      1,396 words
  • Page 8 Advertisements
    • Advertisement
      Page 8 Advertisements Column 1
      170 8 rrpr: o o o o o o s\ Kit UO> l\K Ht m Cook# s c T- -i w r. u>. J" Sr £,*V- 4/ *>• a' a < I < y v-- > *S/. VI > > J This book comprises a mouthwatering selection of over 200 recipes for
      170 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon GE undergoes major strategic revamp
      2139 9 r < N AMERICAN NYT. ON A shelf in the spare but spacious office of Robert R. Frederick, senior vice president in charge of corporate planning for the General Electric Co., sit 43 binders all in a row. These are the 1978 game plans for
      NYT.  -  2,139 words
    • Article
      Inchcape plans stake in US shipping line
      365 9 EUROPEAN IN SPITE of the depressed conditions for worldwide shipping. Inchcape UK plana to spend £6 ft million to £9Vi million on a quarter share of a West Coast U.S. container shipping service with a turnover of over £55 million. Oodweil and Co.,
      365 words
    • Article
      Esso Chemicals may postpone project
      364 9 PETROCHEMICAL overcapacity In Europe may force Esso Chemicals to postpone for up to a vear their planned £300 million ethylene cracker at Moss Morran In Fife. Dr. Austin Pearce. chairman of Esso Petroleum, said In Glasgow a Ilnal decision on the project was likely in
      364 words
    • Article
      Lock icon Graenges delays shipping decision
      155 9 Reuter. STOCKHOLM: Graenges AB has made no final decision on the termination of its loss-making shipping activities, Carl Erik Felnsilber. chairman of graenges' shipping division, said. Mr. Felnsilber said negotiations with local union representatives on the future of Oraenges' remaining fleet of some six vessels and
      Reuter.  -  155 words
    • Article
      Lock icon Drilling deal
      84 9 Reuter. THE Italian State oil firm Enl said its subsidiary Salpem signed a contract with the Elf Aqultalne Group of France to drill for oil and gas in the *Mer d'lrolse at the western approaches to the English channel at a depth of 133 metres, 194 km from
      Reuter.  -  84 words
    • Article
      VW PRICE
      68 9 WOLFSBURO: Prices of Volkswagen and Audi cars rose by an average of 3.5 per cent on the home market. A spokesman for tjie company said the Increase was necessitated by rising production costs. The price rise does not affect Volkswagen and Audi sales outside West Germany, the Company
      68 words
    • Article
      Bata sets foot in Sudan again
      242 9 THE Bata Shoe Organisation has returned to Sudan after an absence of eight years following nationalisation of the Khartoum factory and 40 retail stores in 1970. Bata Ltd announced in Toronto that a new company, Bata Sudan Ltd, will take over operations of Bata
      242 words
    • Article
      Zapata unit to close copper mine
      80 9 ZAPATA Corp said Its 97 per cent owned subsidiary Granby Mining Corp will close Its Phoenix copper mine near Grand Fork, British Columbia, late this year. Granby President R.P. Taylor said the Phoenix ore body was mined out in August. 1976 but the mill
      80 words
    • Article
      Food price war hits UK chain stores
      298 9 THE PRICE war among the big supermarkets is forcing major chain stores to reassess their food trade. F.W. Woolworth Is carrying out a major review of food sales In Its 1,000-plus branches. Over the past few years Woolworth's has dropped food and grocery
      298 words
    • Article
      Roussel Uclaf raises profits
      270 9 THE FRENCH pharmaceutical group Roussel Uclaf reported "favourable" results in 1977, showing an increase of Just under 8 per cent on consolidated turnover and higher profits at both group and parent company level. The company proposed an unchanged dividend of Frs.9so net per share. This will
      270 words
    • Article
      Wimpey confident of another good year
      159 9 LONDON: George Wimpey and Co Ltd chairman R.B. Smith said he la confident 1978 will be another- good year and with a record workload booked, there Is every sign that private house sales In Britain will exceed last year's level. Mr. Smith said In
      159 words
    • Article
      Lock icon AJBL income up
      90 9 AFP LONDON: The Associated Japanese Bank of London reported a pre-tax profit of £3,172.297 for the year ended Feb 28, up from £8,074,263 In the previous year. The Improvement occurred despite the unfavourable effect of the 13.3 per cent appreciation of sterling against the dollar during the
      AFP  -  90 words
    • Article
      Lock icon Mannesmann lowers dividend
      93 9 Reuter. DUESSELDORF: Mannesmann AO said it proposes a lower 1977 dividend of 5.50 marks against seven marks in 1978. Together with the tax credit, shareholders paying Oerman Income tax will receive a total 8.09 marks it said. Its subsidiary Mannesmannroehren Werke AO has obtained a 70 million
      Reuter.  -  93 words
    • Article
      NBA growth rate slows in first half
      525 9 ASIAN THE NATIONAL Bank of Australasia failed to maintain its Impressive growth rate of recent years In the March half-year, when earnings rose only 5.2 per cent., from 5A20.8 million to 1A21.7 million. The slowdown was signalled earlier when the bank's wholly-owned finance
      525 words
    • Article
      Lead sales fillip to MIM earnings
      232 9 AUSTRALIA'S MIM Holdings has been managing remarkably well against the background of depression in the copper and zinc markets. During the past 10 months of its current financial year to June 30 MIM has been helped by increased sales of lead coupled with a
      232 words
    • Article
      Lock icon World surplus of paper shrinking
      178 9 Reuter MELBOURNE: NZ Forest Products Ltd said the world surplus ©f pulp and paper stocks, which has produced the lowest prices since 1971/72, is diminishing. By the end of 1978, a better balance between supply and demand is expected and when this occurs an improvement
      Reuter  -  178 words
    • Article
      Lock icon City Hotels will pay interim dividend
      149 9 Reuter HONGKONG: City Hotels Ltd shareholders will receive a HK$2 1978 Interim dividend in addition to $40 a share cash under proposed terms of Hongkong Land Co Ltd's offer for the outstanding shares in the company, Hongkong Land said. It said in a statement
      Reuter  -  149 words
    • Article
      Lock icon Leonora Nickel trading suspended
      163 9 Reuter. SYDNEY: The Sydney Stock Exchange said it suspended trading In the shares of Leonora Nickel NL, following the appointment of an inspector to investigate the company's affairs by New South Wales attorney general Frank Walker. The investigation is linked to one started last October by
      Reuter.  -  163 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      26 9 VALUATION FOR CORPORATE ACCOUNTING 3s SIAN Appraisal GROUP THE PROFESSIOMAIS TEI *****5 ASIAN APPRAISAL CO. PTE. LTD. SUITE 7 C4 SUPREME HQUSE PEfNjAI\C <?D S 9
      26 words
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      Page 9 Advertisements Column 2
      121 9 For a Successful BANKING Career ILI T PI A ERA MA SCRI NEI study with Wblsey Hall for the Institute of Bankers CONVERSION COURSE Successful candidates of the Conversion Course will gain direct entry to the Institute of Bankers Part II or Stage II examinations leading to the Banking Diploma
      121 words
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  • DEALS DONE ON THE SES AND KLSE
    • Article
      In Singapore
      1753 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 word "sett 7 Big Board
      1,753 words
    • Article
      Government bonds
      157 10 Rep Spore D Mark 7% IW2 (100.000) (102*B 103*8) Rep Spore 6 1/2% 1083 (100.000) (102*B 103S) Rep Spore 7 3/4% 1987 (100.000) (99*8 99%5) Rep Of Panama 9 1/2% 1983 (100.000) (99H8 100SS) Nippon Credit Floating 1983 (100.000) (90*B 99%8) 5 1/4% IS/10/79 (250,000) (101.45B) 4 3/4%
      157 words
    • Article
      Corporate bonds
      225 10 Australian D B 8 1/4% 1982 (100.000) (98%8 90S) Australian D B 10% 1982 (100.000) <95'/»B 978) B O T 8 1/2% 1981 (100.000) (1008 100' aS) B O T 7 5/8% 1984 (100.000) (958 95'jS) B O T Floating 1984 (100.000) (99 SB 100HS) C Itoh 8
      225 words
    • Article
      Stock options
      155 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 $1.70) <0.51 B 0.605). (Sepl 11.70) (0.538 0.608). C and C (June
      155 words
  • Article
    SHARE INFORMATION SERVICE
    2448 10 1978 High Low Company Last Sale Week +OCGr'« Div Div C'vr Gr's Y'ld Net P/E Week Vol <*000) Week High Low SECTION ONE INDUSTRIALS 181 213 151 225' 83 190 205 186 398 422 132 123* 112 195* 60* 162 191 144 256 394 Acma Alcom Allied
    2,448 words
  • Article
    In Kuala Lumpur
    1861 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. INDUSTRIAL* Alcam (2.038 2 048) (2) 2.04 (1) 2.05. A CAM (1.428
    1,861 words
  • Article, Illustration
    Profit-takers move in
    707 10 SINGAPORE BULLISH trading at the opening took selected counters higher but the market faltered during the day when profit-takers liquidated their holdings. Trading volume on the Stock Exchange of Singapore remained heavy with about 11.07 million shares traded at a value of $21.46 million. This compared with
    707 words
  • Article
    Easier closing on KLSE
    618 10 FAIRLY heavy profittaking In the wake of recent sharp Increases In share prices forced the Kuala Lumpur Stock Exchange to close on a distinctly easier note yesterday. An attempt to follow Monday's strong lead in the first hour or so of trading was easily dispelled as
    618 words
  • Article
    Unit trusts
    146 10 SINGAPORE UNIT TRUST (Mmiin jitMi tar May IT) INCOME BOND UNIT The Commerce The Saving Fund 1.93 2.05xd I.JO 117 INCOME BOND 1 06 l.U 8 pore Prof Fund O.M 1.09 mara bumiputra fund 8 pore Security Fund S pore Invest Fund 1J0 l.fl ("■■I—■ prim tar Mar
    146 words
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  • COMPANY NEWS
    • Article, Illustration
      MUI share rise
      67 11 MALAYAN United Industries, replying to a KLSE query, says It does not know of any reason for the recent sharrp rise in Its share prices. It added that there were no matters of importance pending announcement. The company has already forwarded to the exchange an announcement pertaining
      67 words
    • Article, Illustration
      Harimau moves to higher level
      715 11  -  By MANO SABNANI A SYSTEMATIC reshaping of its investment portfolio in the last two years has begun to reap concrete benefits for Harimau Investments, the closed-end investment trust managed by Oversea-Chinese Banking Corporation. Net tangible assets (NTA) of the group were reported at year-end to
      715 words
    • Article
      Long wait for DKP
      911 11 THERE Is a light at the end of the tunnel though only Just a flicker for the longsuffering shareholders of Datuk Keramat Properties (DKP) who have not been able to trade their shares since they got them In 1974. DKP Is now concluding a new valuation
      911 words
    • Article
      Biggest bank image at MB
      259 11 MALAYAN Banking has stated that its acquisition of Court Hill will enable It to •'plan an appropriate head office building that will incorporate the latest concept in customer services and project an image appropriate to its status as the higgest bank in Malaysia." In its
      259 words
    • Article
      Tampoi factory resumes work
      95 11 PALM and Vegetable Oils (Malaysia) Sdn Bhd said it will resume normal business and production at its factory in Tampoi. Johore. This follows the company's release from receivership following repayment of a loan due to Malaysia Borneo Finance Corp (Malaysia) Bhd. The Tampoi factory ceased production
      95 words
    • Article
      Windfall profits at Boustead
      371 11 LIKE its subsidiary Malakoff Berhad which turned in a sparkling set of results recently, Boustead Holdings has been just as impressive in the year ended Dec 31. The group netted a 74.7 per cent increase in pre-tax profits to $15.13 million against $8.66 million in the
      371 words
    • Article
      Bandar Raya
      50 11 BANDAR Raya Development has stated In a reply to a KLSE query, that it Is not aware of any reason for the substantial turnover In Its shares recently. It adds that there are no matters of Importance pending the announcement at May 5, the date of the query.
      50 words
    • Article
      Mega Chemicals
      41 11 MEOA Chemicals, replying to a KLSE query, stated that It knew of no reason k for the recent substantial turnover and sharp price increase in its shares. It added that there were no matters of Importance pending the announcement.
      41 words
    • Article
      Goodyear
      37 11 GOODYEAR Tyre and Rubber Co said It will spend US$lO million (5523.2 million) to increase production at Its Kuala Lumpur plant by about 50 per cent to meet anticipated demand for tyres and related rubber products.
      37 words
    • Article
      Asset backing unaffected
      156 11 BOUSTEAD Holdings states that, based on current projections. its acquisition of Progress Castings Sdn Bhd (PCSB) should cause Its pretax profits to improve by some $250,000. It was replying to a query put forward by the KLSE. The acquisition, says Boustead, has no significant effect on the
      156 words
    • Article
      PDC pays cash for Gomma
      96 11 PACIFIC Development Credit's equity participation in General Gomma (M) will be on a cash basis. The company was replying to KLSE queries on the proposed Joint venture, which was incorporated on April 12. It has submitted a copy of the certificate of incorporation in General
      96 words
    • Article
      COMPANY MEETINGS
      575 11 Straits Steamship Company Ltd: AGM to be held at the Tower Room, Ocean Building, Collyer Quay, Singapore, at 9.00 a.m. on May 18. EOGM to be held immediately after the close of the AGM. Dunlop Estates Bhd: AGM to be held at Bastion House. 8, Jalan Kota Malacca,
      575 words
    • Article
      TONGKAH HARBOUR
      92 11 SHAREHOLDERS on the Malaysian register of Tongkah Harbour Tin Dredging have been reminded to submit fresh declarations for relief under the double taxation agreement between Malaysia and UK by May 31. Failure to do so by this date will result in their names being removed from the designated
      92 words
    • Article
      Oriental
      24 11 JARDINE Matheson Estates Sdn Bhd, the wholly-owned subsidiary of Oriental Holdings, has changed Its name to Oriental Rubber and Palm Oil Sdn Bhd.
      24 words
    • Article
      DIVIDENDS ANNOUNCED
      846 11 Current Ex Books Dale Total for Total for payment Date clooe payable the year previous yea Guthrie Ropel 10% Apr 5 Apr 10 May 17 15% 12% ST Steamship 21%TE Apr 25 May 3 May 18 21%TE 34% Bata(M) 12% Apr 20 Mayl May 20 18% 18% UOB
      846 words
    • Article
      SCRIP ISSUES
      193 11 Company Particular* Ex Date Booki Close Buu!>lead Holdings Bonus Issue of 1 for 10 May 17 May 30 United Plantation! Bonus Issue of 1 for 10 May 26 Jun 7 Ma lex Bonus Issue of 1 for 3 May 30 Jun 9 Tan Chong Bonus Issue of 1
      193 words
  • Page 11 Advertisements
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      Page 11 Advertisements Column 1
      243 11 Mathematics and Statistics in Penguins 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
      243 words
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  • Article
    FASC gets down to brass tacks in Manila
    459 12  -  •l CHAN BONG SOO THE FEDERATION of Asean Shippers Council Is meeting In Manila today to promote and Improve shipping facilities. It Is the federation's second annual meeting and will last four days. One main priority will be to study the progress
    459 words
  • Article
    Lock icon The politics of world trade in minerals
    366 12 Reuter. THE DEPENDENCE of the West and Japan on supplies of minerals from developing countries will involve many problems in the future, Newmont Mining Corp. chairman, Plato Malozemoff, said in Canberra. The most important problems are associated with political factors that inevitably produced
    Reuter.  -  366 words
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    Lock icon Capital gains tax cut opposed
    840 12 IT WILL COST TREASURY $5b NYT Reuter US TREASURY Secretary Michael Blumenthal has released a letter to House Ways and Means Committee members opposing a reduction in capital gains taxes. He said proposals reverting capital gains taxation to pre-1969 rules would cost the Treasury US$2.2
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    Lock icon EUROCREDIT MARGINS CAUSE CONCERN
    839 12 Reuter. BANKERS meeting in Hot Springs, Virginia, said there is growing concern over the narrowing margins many borrowers are seeking and obtaining on Eurocurrency credits. The margin over the London Eurodollar Interbank offered rate (Libor) Is now about percentage points for prime borrowers, down from one
    Reuter.  -  839 words
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    Lock icon Co-financing in vogue
    349 12 Reuter. CO-FINANCING between commercial banks and official development banks, like the World Bank, will become increasingly necessary as overseas development assistance from industrialised countries continues to declineOrganisation for Economic Cooperation and Development figures snow that as a proportion of gross national product, assistance from OECD countries fell
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    LONDON STOCKS
    795 12 LONDON. Tues. Prices closed lower following reappraisal of the April trade figures, dealers said. Turnover was small and at 3.00 p m the Financial Times index was down 5.1 at 479.9. Government bonds and equities retreated after a firmer opening as sterling declined. The fall inequities was extended
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    Lock icon Nod for sugar operating rules
    225 12 AP. THE EXECUTIVE committee of the International Sugar Organisation (ISO) met In London on Monday and approved the rules under which the 1978 International Sugar Agreement (ISA) Is to operate. The world sugar pact was signed In Geneva last October and provisionally began operating on
    AP.  -  225 words
  • Article
    Seaborne cargo up
    107 12 TOTAL seaborne cargo discharged and loaded in Singapore during this year's first quarter Increased by 23 per cent over the similar 1977 period. Total cargo was 17.1 million freight tonnes compared with 13.9 million freight tonnes, during last year's first quarter. Total imports for the period were
    107 words
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    Lock icon SIA's shot in the arm for US aircraft sector
    593 12 AFP. THE 810 Singapore Airlines order with Boeing has triggered a wave of optimism In the US aircraft Industry, but It realises that West European competition is now a force to be reckoned with. The SLA contract worth US$9OO million (Ss2.l
    AFP.  -  593 words
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    Lock icon Step towards tin sales
    302 12 Reuter. A US House Armed Services Sub-committee approved a bill authorising a US contribution of up to 5,000 long tons of tin to the international buffer stock, and sale of another 30,000 tons from the nation's stockpile. The bill, as approved by the Stockpiles Sub-com-mlttee, also
    Reuter.  -  302 words
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      3 12 Leader Page 6
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      491 12 Political Identity This Month's New Penguins 7 Surprise: Brian Burtand riWWPIfIW Brian Burland, Penguin's latest author has an easy Kj||UjljjSj| y mastery that can knock most of the vaunted bestsellers right out of the ring. In Surprise, the language has a convincingly salty swing and a surge of the Caribbean
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    SHIPPING TIMES
    3151 13 MHBDBLB 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 OMMrttaiM ItuOtteh hM i joint service
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      595 13 Fortnightly Direct Express Service Europe/Straits F or further details call Singapore: *****46 Kuala Lumpur: ***** Port Kelang: *****0 Penary: ***** 1 f Lineblnc (USA) +mJ oeuiram Trans Pacific Service Full Container Service To USA FEEDER vsl s>o*e h« o«* i« cutr i c A VESSEL 19/5 UMm 24/5 12/1 14/4
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      554 13 m SHARJAH SHIPPING CO. LTD »>.»> A. tr* (UNITLD AMI. EMiRATLSi S port P Ketjni GUIF PU»I 1/11 MHM GULF PROSPERITY n/ll Hit Ui fIHU SHIPPIfIG UfK (UNITED ARAB EMIRATES) GULF SHIPPING LINE (UNITED ARAB EMIRATES) S pore P Relani Pl—m Loadmftor •GULF MAJESTY 2/5 htM S/7 Jw» Ouba< Abu
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      534 13 r ARAB LIME SAUDI ARABIA Aqrn'*. Si.h UNIPACIFIC TRANS TRADING ORIENTAL SHIPPING CORPN AGENCY PTE LTD HI In /(lhBS/ Tri 914 144 i'i lirirM SINfiAPORI PI NANG 'el bIOHS IRAQI LINE IRAQI STATE ENTERPRISE FOR MARITIME TRANSPORT EXPRESS SERVICE TO MS RAH ACECEPTING CARGO FOR KUWAIT AND KHORRAMSHAHR ALSO GULF
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      62 13 NOTICE ANNOUNCEMENT HIKMA SHIPPING (PTC) LTD., TAKE GREAT PLEASURE IN ANNOUNCING THE APPOINTMENT OF NO TEOW YHEE SONS PTE. LTD., N.T.Y Building, 37, Somerset Road, Singapore 9. Tel: *****4 AS THEIR GENERAL AGENTS IN SINGAPORE K.Lumpur/P.Kelang»Sub Agents ORIENTAL SHIPPINQ CORPORATION Kuala Lumpur Tel: *****/*****7/*****8 COMMENCING WITH N.V. SEBASTIANO CABOTO IN
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      13 13 FORTNIGHTLY TO MIDDLE EAST LAND i Ml REFRIGERATED CONTAINER SERVICE BOOKING TEL *****22
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      876 14 SHIPPING FUUT CONTAINERISED TO EUROPE EXPORTS S pan P. Man( H'burj B'Hm« Rdam L« Hint Antwerp Crtj <* Edinburth 18/5 8/6 6/6 (7/6) KaiMtwa Mara 18/5 9/6 11/6 12/6 14/6 BraiMn Eiprws 22/5 7/6 9/6 10/6 (14/6) BmaMff 26/5 28/5 18/6 20/6 21/6 (29/6) Trim Eiprtu 3/6 5/6 24/6 26/6
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      780 14 a SANKYO LINE| AUSTRALIA SERVICE P KeUnt Lwdmt YUE RIVER HI PORT SAILED ERE. ADEL. MEL SYD ""SKKffiS BANGLADESH SERVICE MAY PRINCE IS/20M*y IN PORT CHITTAGON6, CHALNA GENERAL AGENTS OCEAN SHIPPING ENTERPRISES PTE LTD SINGAPORE TEL *****44/7 i *****70 K LUMPUR TEL ***** I ***** CONTAINER BOOKING SENKEE INTL PTE
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      501 14 i LAND U.S.A./ ASIA SERVICE NT RtFRIGERATEO CONTAINER SERVICE SANJW EVERT MEPNESOAT FOR POtTS W USA K ROM. THAILANP AM fMUPPWEI Terminal ?57°"*33 *****37 FULLY CONTAINERISED SERVICE Go one bettor to the Middle East PRIORITY BERTHING ft DISCHARGE AT ALL PORTS t ALSO ACCEPTING CARGO FOR BAHREIN AND ABU DHABI
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      775 14 Everett Lilies Burna Fivt Star Stiippiof Corpn. "BURMESE NATIONAL LINE" loading for ramgoon BFS S C. Ag«nts m Mok»y»«j TEPS MALAYSIA Port Kelong Tel (38) 7355 Panting T»| *****/***** Componia Aryantina Da M V Wavapadoß Imareontinamal S. A. C.I. F. jpVy "ARGENTINE NATIONAL LINE" LOADING FOR DURBAN CAPETOWN BUENOS AIRES
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      457 14 JARDINE AN I.MI H I Orient Overseas Co*dcl*teA Line m»'«■> 32 FULLY CONTAINERISED SERVICE FROM EUROPE (VIA SUEZ) MEKATOtK u/! OMENTA! CHIEF H 24/! tuMtmmvn 3i/! OMENTAL KKMCMEI 2E CMEVALIEI PMI HE 13/1 MrnM am. te is/< NEPTUNE PUft K 31/1 CHCVM.IH ion X 7/ rn 4 STATESMAN 121 COMMAMOCII3I
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      1526 15 OCL Overseas Containers Limited N c—tainersnip soviet t» w/chtiweit: H'barf ft'dsn l« S'tM S'pora P. Kelang D'aurk tram. A'warp Havre U.K. emr tr eiimmu iiiur i m i Mir mi n KAHAKIMA nun II Hay I la 11 It II la in •WKI EXPRESS 22 May 7 Ml I laa
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      1287 15 Ajoat servKxafßen line. BtueßMrndOenUne and NSUO Tt M/CWmiiUlT (Ma tan) Singapore f.blm Pc*an( [iron PATROCLUS Sailed IJ/II Ilay 11 laa Lauoes. Bilbao, Anijt. V H'bu'l, Hull. L'paol. PNRtHTIS 12/14 xm M/OIM It/It laaa 17 1.1, (ilkao. An.st. OuM.n. Liverpool. tENtEAfIt 4 laly MI Mr 7A« L.SDM, UiMM. Tiltery, H.I FMM
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      721 15 BL BEN LINE CONTAINERS LIMITED JfTOtC I'HAHTN t*MM HAWf torn. Tinam P. K*lan| *enlMI Fnaci All U.K. citt or niHtvKi lUUIU MAIU ■IE HEM [imu BENALIEI TMIO EXPIESS THAMES Ull OSAKA lAT NAMMK EXPRESS 11** 1 )«M II Jan II lm 17 tan n Mai It Mai S Ml NONCKONC
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      1008 15 Scan Dutch V EXPRESS COWTAINER SERVICE VIA SUEZ WESTBOUND TO MED/UK/ CONTINENT/ SCANDINAVIA Feeoei (ran t. Kelant Vessel (LIAJMRA 14/ S NCR DftfT FRANCESCA .1/ I) IHIWM 21/ I) ««"0I» francisca 4/ mimom IUMM't It/ Ml DFJIMA FRANCISCA 10/ TAVAMI (LI AMORA a/ I) Spot L Mseilies 2 Mm 3)
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      525 15 GUTHRIE BOUSTEAD Ss THE BANK LINE LTD. LYKES ORIENT LINE EXPRESS SOVICf •IKECT FRRM au» accepti* turn m WIN PRRTS. ■tINTM LTKIS (LMti) I« PI/11 May miu imi due*) tint m SINGAPORE 9134*14 pj KELANG *****1 KUALA LUMPUR ***** 1 PfcNAMG 362 101 RECULAI INBEPENRENT SERVICE FESCO LINES FESCO STRAITS
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      845 16 on* SUEZ) ky CdtMiir Vassals TO BUmOPB S'aore P. Kelang L.Havre H'buri Bremen R'dam A'wero neptwie pearl iw ii Part 11 Ma* j"' j*' CHEVALIER IOZE IW 23 May 25 May 13 fraa 15 Jaaa 1»J«* JJ ■JL CONTAINER IIW 2 Jut 3 Jaw Klaai 24 Ju* 29 JM 201«
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      1148 16 E. C.-U. S.«. ATLANTIC/GULF SERVICE ACCEPTING FCL/LCL CONTAINERS FtOM S'POiE, P. RELANS, PCNANC Laad.ag tar: NORFBLK, new TOM. «i* Orleans, nooston. Singapore p U in| Be law an Penaftf "VISNV* BNAKTI" (NRSA I] SCI) )iM 27/28 Jaae 18/ J Jell 1/S Ja»V E.C./GREAT LAKES SERVICE LaaOiag ftr: NORFOLK. NIW TOW,
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      1253 16 NEPTUNE ORIENT LINES LTD •FULLY CONTAINERISED SERVICES: TO EIROtt on* SUEZ}* NEPTUNE KAIL CHEVALIER RUE} HONGKONG CONTAINER MERCATOR lIN !)M 21 )mb ORIENTAL CHIEF ISIm lIHn 3My SEVEN SEAS HIKE 21 teM 22 Mm IMy 1) My ORIENTAL IESIAICNEI ntm 21 teM II Mr 2IMy tC. ion S'ptrt Cteiac Tim:
      1,253 words
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      778 16 MALAYSIAN INTERNATIONAL SHIPPING CORPORATION tIPHAD EXPRESS FULLY CONTAINERISED SERVICE TO/FROM M ED/UK/CONTINENT/SCANDINAVIA WEST BQINI 'f Kalanf Vatitl fIMCIIU lUTLANBIA IUMUi MiM Ml. BELT! EIEANOtA m I lIIIHM FIANCEtCA 4/ I NIIW« I'WI 1] Mtlilltl 7) *«»"> J1 Htu'l 4) Cbur| b'W I I 1/ I a/1 in it/ m/ i
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      699 16 INTRASEA (PTE) LTD n Kansai Lin&i STRAITS/AUSTRALIA SERVICE MACE ABCLAIBE Sinjipon P. Kelani Latitat II May hi Nrt Brisbane/Sydney/«*•» Mtibourm/Adelafll^^ intiama (PTD m-t-MBai am. na tNiPfiN* t Tuaiw—maaa. man. ALPAC LINE 3 SOOTH AFRICA SERVICE S'pora P. Kelan( Ptning Laa#ta| In POU V. 21 SallM ta tat bunion, OtfbM, ALPAC
      699 words