The Business Times, 18 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 THURSDAY, MAY 18, 1978 50 CENTS
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  • BRIEFLY...
    • Article
      Resuming trade
      101 1 SINGAPORE and Cambodia have agreed to resume bilateral trade and strengthen economic relations. The agreement was reached during discussions In Phnom Penh between a Singapore delegation led by Lee Chlong Glam, director of the economic and regional division of the Foreign Ministry and Cambodian officials. Botn sides have
      101 words
    • Article
      Lock icon KL surplus drops
      70 1 Reuter KUALA LUMPUR, Wed. Peninsular Malaysia's trade surplus for the first two months of this year fell sharply to Mslsl million compared with $375 million in the corresponding period last year, the Department of Statistics said. However, the surplus for February rose to $91.9 million against $59.6
      Reuter  -  70 words
    • Article
      Lock icon Dollar higher
      59 1 UPI LONDON, Wed. The US dollar opened higher on European foreign exchanges today, except against the pound, which gained 25 points overnight. The pound opened at U551.8125 compared with $1.8100 at Tuesday's close. In ZURICH, the dollar opened at 1.9995 Swiss francs, up 60 points, but dealers said
      UPI  -  59 words
    • Article
      Lock icon Narita's opponents adamant
      84 1 Reuter NARITA, Wed. Resolute opponents of Tokyo's new airport turned down peace feelers from the government today as helmeted radicals warned riot police and officials to stay away from their flag bedecked illegal fortress beside the new terminal building. The 68-year-old chairman of the anti-airport league, farm
      Reuter  -  84 words
    • Article
      Lock icon Scope for Asean
      75 1 AFP BRUSSELS, Wed. Scope for Increased West European Investment in Asean will feature strongly in talks starting in Bangkok on Friday, EEC officials said here today. Asean officials may produce lists of products they want included In the EEC Generalised Preference System which provides for reduced tariffs
      AFP  -  75 words
    • Article
      Labuan talks
      45 1 LABUAN, Wed. President Suharto today held talks with Prime Minister Datuk Hussein Onn on regional affairs, ranging from security to economic development, under tight security here. The talks, will feature a general review of security measures against communist guerilla activities in the region.
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    • Article
      Lock icon Dow Jones
      91 1 UPI NEW YORK, Wed. Profit takers, initially Ignoring some favourable economic news, drove stocks lower early today by cashing in on recent (pains. Trading was active. The Dow Jones Industrial average, which had climbed 32.23 points the past five sessions, was off 2.68 points to 851.61 around 11
      UPI  -  91 words
  • Chief Price Changes
    • Article
      In Singapore yesterday
      126 1 Rises Most active Goodwood Park 422 +78 Sungei Besi 580 +40 Faber Merlin 844,000 H Msia 183 +21 Pahang Cons 532,000 UNW 203 16 J C-MPH 319,000 D Keramat 870 15 Haw Par 309,000 Guinness OUE 584 180 151 14 14 13 Total Turnover: 8.21 m H
      126 words
    • Article, Illustration
      In Kuala Lumpur
      159 1 Rises Most active Hong Leong 3.94 .30 F. Merlin 857,000 Koyai Tractors 1.56 4.24 .27 .14 Pahang Cons UMW 634,000 624,000 U M Worlcs Keck Seng 2.12 2.32 .12 .11 KL Kepong 435,000 KLInd 1.02 .10* Total Turnover: 7.62 m Bolton 1.89 .10 Total value: MS14.71 m
      159 words
  • Article
    Asean fair proves an eye-opener
    786 1 NOTHING VENTURE; NOTHING GAIN Colin Chee, who spent a week at the Manila trade fair, takes a critical look at Singapore's participation. SINGAPORE'S exhibitors at Asean's first trade and industrial fair now being held in Manila can hardly be representative of our industry. Considering that
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  • Article
    Mahathir pledge over investment
    256 1 MALAYSIA'S deputy Prime Minister, Datuk Sen Dr. Mahathir Mohamad, gave a guarantee that foreign investors would not face any major problem when investing in Malaysia. "The government will constantly review existing policies and procedures to ensure that these are in keeping with the dynamics of a
    256 words
  • Article
    SIA two-digit growth for a long, long time
    711 1  -  •y TERESA LIM SINGAPORE Airlines (SIA) hopes to sell off its entire fleet of Boeing 737s by March 1980, and Its present seven 8747s by the third quarter of the same year. Its 10-strong 8707 fleet will not be disposed off immediately.
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  • Article
    Lock icon Preferential products may jump 10-fold
    148 1 UPI ASEAN hopes to expand preferential trading arrangements by a ten-fold jump In the list of products covered, from 71 to 750, by the middle of this year, said President Marcos yesterday. He said the Increase in the list of Items to be accorded preferential
    UPI  -  148 words
  • Article
    Seminar to fill you in on American GSP
    302 1 TWO Washington official! will be in Singapore tomorrow to conduct a oneday seminar on the US Generalised System of Preferences and its applications to the Republic. Generally, Singapore manufacturers have not made full use of the GSP, said a US Embassy official
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  • Article
    S. Korea's US$300m loan revised upwards
    374 1 BECAUSE of overwhelming response' from Asian participants, the US$3OO million syndicated loan to South Korea was revised to US$5OO million when it closed last Friday. Total subscription to the loan was US$57O million. The result wipes out what doubts bankers may have had on
    374 words
  • Article
    Manila gets loan
    152 1 FOUR banks, including one from Singapore, .are now packaging a US$7O million Asian dollar consortium loan to the National Power Corporation (NPC) of the Philippines. The 10-year loan one of the biggest syndicated deals to the Philippines this year carries an interest rate of one per cent
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      2 1 AKAI AAA
      2 words
    • Advertisement
      Page 1 Advertisements Column 2
      118 1 A MOST DMnNGOSHED Cm Peugeot 604 exudes luxury. It's rigid body is protected by Electrophoresis and six handsprayed coats of paint plus a top layer of varnish. Insulation from noise and vibration is achieved via a floating differential, seats that are tunefl to the fully independent suspension and extensive padding
      118 words
    • Advertisement
      Page 1 Advertisements Column 3
      82 1 SHIPPING TIMES DAVID shesd of Goliath in computer sole* 2 PEOPLE In business 2 NEW system boosts rigs 5 STAGE sot for Wall Street JffpACT' of' Manila's' tax, labour cods DATBUN sales spur Ton Chonf U PAN Electric disappoints 11 HARCROB details soon 11 API on the carpet 11 THIS
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    • Advertisement
      Page 1 Advertisements Column 4
      83 1 I IJ If you think its impossible to have a tape that always has the right frequency; a head cleaner; jam-free device a wider felt pad... will change your mind with maxell tapes you can have all these problems solved plus the new epitaxial magnetic particle which can really give
      83 words
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  • TRADE AND INDUSTRY
    • Article, Illustration
      Mini sales outpacing mainframes
      453 2  -  •y TSANG SAU YIN MINICOMPUTERS are fast overtaking the mainframe business, In sales worldwide. Mr. Alain Da«te of Data General Corp, In Singapore to launch the company's CS/20 and CS/60 systems designed for small and medium businesses, said: "The mainframe business is about 60 per cent
      453 words
    • Article
      Lock icon Thai-Brazil trade talks
      234 2 AFP THIRTY-FIVE businessmen from Brazil are to visit Thailand to meet local government officials and businessmen for talks on mutual trade and Joint investment. The Brazilian trade mission is now in South Korea and will be arriving in Bangkok on May 22 on a week-long visit. The
      AFP  -  234 words
    • Article
      Lock icon WAY TO HASTEN ASEAN'S GROWTH
      154 2 AFP PHILIPPINE Industry Secretary Vicente Paterno has called for stronger trading links among the member countries of Asean to hasten the region's industrial growth. Speaking at a business symposium "for Asean Chinese traders, Mr. Paterno said the Asean preferential trading arrangements agreed on last year
      AFP  -  154 words
    • Article, Illustration
      Cash for AA building
      130 2 AN AMERICAN Express campaign directed at Automobile Association of Singapore members has earned for the association a $1,610 contribution the second towards its new building fund. The cheque was presented to Mr. Milton Tan, president of the AAS by Mr. Curt Ludwigson, American Express Card division's
      130 words
    • Article
      Better plastic output
      555 2 A UNIVERSITY of Malaya lecturer, who has made a study of the plastic industry in Malaysia., has suggested several ways to improve productivity. Mr. Tiam Ting Tee, of the Faculty of Engineering pointed out. that excessive reliance on cheap labour may actually be uneconomical. This is because
      555 words
    • Article, Illustration
      PEOPLE IN BUSINESS
      202 2 CATHERINE Heng has rejoined Ogilvy and Mather. Singapore, as media manager. (She first joined the agency in 1967). Her duties involve media planning. analysis and research. Miss Heng started her career in advertising with Ace Advertising as a media buyer. She then joined Hyad Advertising and Publicity
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    • Article
      MEMO PAD
      233 2 DATE TITLE VENUE ORGANISER COURSES AND TALKS May 8- Aust. Insurance Institute Aug 17 Associateshlp Course SITC May 15-Compensation Employee June 5 Benefits Hilton SITC POD May Managing a Sales 16-18 Force Hilton Consulasla May Cost Control for 18-19 Managers May 19 Fundamentals of industrial process control instrumentation
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    • Article
      Lock icon FORESTS NEGLECTED
      71 2 Reuter ONLY about one-tenth (or 222.500 hectares) of forests logged in Peninsular Malaysia over the last six years has so far been replanted, the Forestry Department said. Reafforestation of another 647,500 hectares is needed to avoid the danger that there would be insufficient forests to log In years
      Reuter  -  71 words
    • Article
      Manila lumber exports rise
      159 2 THE Philippines first quarter lumber exports rose 16.8 per cent to US$l6 million (Ss37 million) from $13.7 million in the similar 1977 quarter. The Trade Department said plywood sales, however, fell 5 per cent to $11.2 million from $11.8 million in the corresponding 1977 period. The
      159 words
    • Article
      Microwave link with Malaysia
      373 2 SINGAPORE will be Installing a third microwave link with Malaysia next year to cope with Increasing telecommunication traffic between the. two countries. This was announced by Minister for National Development and Communications, Lim Kim San, at the official opening of the Radiocommunications Exhibition at the National
      373 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      350 2 What's been the impact of the yen's incredible climb? Subscribe now iiw J 1 Airmailed from Tokyo me japan econome jouma ENGLISH WEEKLY EDITION of JAPAN'S AUTHORITATIVE ECONOMIC DAILY I „,lulJ JOUIWL j a Economic Journal is available to foreign MCNKHZA9MHJN r E "r businessmen who are aware of Japan's
      350 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      636 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 4 Bird giving a wild shriek (6) 7 Sleazy place where a girl will show an ankle (3, 5) 8 Hardy, yet warmly covered (6) 10 Not much of a spectacle, we hear(s) 13 Stare at a torn page (4) 14 So a lawyer helps
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  • OVERSEAS
    • Article
      Opec surplus oils US stock market
      1051 3 WEST Asian oil money Is playing a significant role In the current US stock market surge, Wall Street analysts say. Both US government officials and private Investment firms consider the purchases of US company shares by 011-rlch countries and individuals as a positive development.
      1,051 words
    • Article
      Lock icon China to buy a-grain
      312 3 AP AFP CHINA may be back In the US grain market (or ltt million to 2 million more tonnes of wheat soon. Washington agribusiness analyst, Edwin Jeanke, has predicted that Information available Indicates that China's expected wheat crop might have been lowered 15 to 20 per
      AP; AFP  -  312 words
    • Article
      Lock icon SAUDIS AIM TO KEEP RIYAL STABLE
      168 3 Reuter THE Saudi government Is determined to maintain the stability of the riyal with the basket of currencies which make up the International Monetary Fund's special drawing right. National Bank of Saudt Arabia international manager, ,Omar Bajamal, told the Bankers Association for Foreign Trade
      Reuter  -  168 words
    • Article
      Lock icon WHO TAKES THE OFFSHORE CAKE?
      487 3 AP A PROPOSAL before the UN Conference on the Law of the Sea requires that the Soviet Union, the US and other rich .coastal nations share their new offshore mineral wealth with poor nations. Nepal suggested that the coastal nations pay into a common heritage
      AP  -  487 words
    • WORLD IN BRIEF
      • Article
        Lock icon BEWARE THE RED ARMY
        485 3 Agencies JAPAN has instructed Its diplomatic missions and overseas offices of Japanese companies to step up their security measures against possible attacks by the Japanese Red Army. The Instructions from the Foreign Ministry was Issued for fear that the Japanese guerillas might try to seize embassies,
        Agencies  -  485 words
    • Article
      Lock icon Release of $460m to help Portugal
      231 3 Reuter THE UNITED States released US$2OO million (SS46O million) of its $300 million contribution to a $750 million international medium-term loan to Portugal. The US embassy in Lisbon said the release of the funds is formal recognition by America that Portugal has an agreement
      Reuter  -  231 words
    • Article
      Shifting research funds to synthetic fuels
      146 3 THE US Energy Department outlined on Tuesday a •plan to shift some US$l3O million (SS3OO million), mainly from nuclear and coal research programmes, into development of synthetic fuels and renewable sources such as solar energy. President Carter announced the plan during a recent trip
      146 words
    • Article
      Four million reasons for more jobs
      523 3 THE summer Job outlook In the US seems better than it has been in years, but the number of Job-hunting youths is soaring. The Labour Department is expected to announce that more than four million youths will Join the labour force in the next
      523 words
    • Article
      German growth will be unimpressive
      1295 3 LIMITS TO WHAT BONN CAN DO WEST GERMAN growth this year will not be very impressive according to all projections available. Moreover, there are limits to how much the economy can be stimulated. Bundesbank deputy governor Karl Otto Poehl said the projections for real ONP
      1,295 words
    • Article
      Lock icon Integration at a price
      163 3 AFP THERE can be no move towards a degree of integration in the European economy without some temporary loss of sovereignty, Luxembourg Prime Minister Gaston Thorn said in Nice on Tuesday in a debate on "Europe's Prospects". "Without the loss, for a limited period, of some
      AFP  -  163 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      129 3 LUXURIOUS ARARTMENTS WITH PAHORAMIC HARBOUR VIEW FOR SALE OR REHT AT IHTERHATIOHAL PLAZA A SPECIAL FEATURES Panoramic view of Singapore waterfront 24 hours central air-conditioning Wall to wall carpeting Furniture fittings designed and provided by leading interior decorators 5 exclusive elevators Fitted intercoms for security Round the clock security guards
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER
      417 4 OPENING prices yesterday were marked up slightly and the market later fluctuated narrowly In thin trading. Some forward demand emerged but sellers remained lacking, dealers said. The morning session closed slightly higher with June One RSS buyers quoted at 209.25 cents per kilo, the dealers said.
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    • Article
      Closing prices
      31 4 Rubber: May 17 Singapore: June 208.75 centa (up 0.2S cent) Malaysia: June 214.50 cent* (up 0.2S cents) Tin: M 51,614 (up 12) Official offering: 225 tonnes (down two tonnes)
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    • Article
      RAS PRICES
      293 4 Prices in cents per kilo yesterday: Noon Close (per kilo) (P« rkllo) Int. 1 R.S.S. prompt f.o.b. Buyers Sellers Buyers Seller* 207.75 208.75N 207.75 208.75N Int. 1 R.S.S. June 208.75 209.25 208.75 209.25 Int. 1 R.S.S. July 209.75 210.25 200.75 210.00 Int. 2 R.S.S. 203.00 204.00N 203.00 204.00
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    • Article
      SSR AND SMR
      100 4 NOON SSR and SMR prio a yesterday: Juae July HAS (Curat Mth) (Forward Mth) B«j« rs Seller* Buyei re Seller* <ea ■Uperkc) ■U per kg) SSR 20 (1-ton pallet) 1 WOO 201.00N 200.00 202 00N S8R50 unti r (1-ton pallet) 187.00 1M.00N 198.00 200.00N SMR 5CV (1-ton
      100 words
    • Article
      Hongkong comex
      166 4 THE sugar market closed 0.07 to 0.23 US cents lower in quiet and featureless trading yesterday, with turnover steady at four lots. Net open positions after Tuesday's trading totalled 37 lots, while the Hongkong daily spot sugar price eased 0.05 to 7.15 US cents. Sugar futures closing prices:
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    • Article
      SPOT PRICES
      196 4 YARN and cotton In Hongkong dollars, spot ex-godown: Cotton Yarn: China Blue Phoenix 20s 1.755. 32s 2 150. 40s 2.280 (per bale of 400lbs) Piece Good*: China Butterfly and Olobe Brand uno Draaon Head uno. Five Lambs unq. Flower and Butterfly unq. Flying Oeese unq (per piece 30
      196 words
    • Article
      Zinc
      53 4 ZINC finished the morning in London yesterday mostly £3.25 higher.. The very steady tone reflected the movement in copper and reports from traders of an Interruption to production at Hudson Bay. Three Months traded up to £315.5 In the first ring but values were trimmed subsequently by profittaking. Sales
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    • Article
      Produce exchange
      337 4 COFFEE prices firmed on the Singapore produce market yesterday In sympathy with generally steady overseas markets. Yesterday's rise resulted from a UK press report of a lower Brazilian coffee crop due to drought. Trading In coffee on the local market was. however, light. Prices of black pepper dipped
      337 words
    • Article
      Coffee
      334 4 ROBUST A futures In London yesterday opened steady but £14 down to €5 per tonne up from Tuesday night. Turnover was 410 lots. Near Months recovered from Initially traded losses to end the opening call down £14 In both July and Sept. Deferred Months were steady with March up
      334 words
    • Article
      Cocoa
      238 4 TERMINAL cocoa In London yesterday was easier at the first call by £27.50 to £6.50 per tonne and continued to decline in active open trading to within fairly near reach of a limit fall in the September contract. Sept traded down to £1,766 £34.50 lower before rallying on Jobber
      238 words
    • Article
      Palm oil
      80 4 Cy North European ports In US dollars per ton unlets otherwise stated LONDON: Tuesday Previous Malaysia 5% ffa bulk per tonne July 585 sir 590 sir Sumatra 5% ffa May unch 650 sir June 635 sir 640 sir July 600 sir 600 slr/597 50 pd August 580 slr/575/577.50
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    • Article
      Lead
      57 4 LEAD finished the morning in London yesterday unchanged from previous closing ring levels. Values recovered from Tuesday's lower late kerb levels on small-scale shortcovering prompted by the trend in copper, dealers said. Three Months traded up to €301 in the ring but profit-taking trimmed prices on the kerb. Sales
      57 words
    • Article
      Straits tin
      246 4 THE STRAITS tin price in Penang yesterday gained Ms 2 to 11,614 per plcul. $114 above the International Tin Agreement ceiling. The market recovered slightly following the continuous gradual decline during the past few days on covering and renewed buying support from the US, Japan and Eastern Europe,
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    • Article
      Sugar
      318 4 SUGAR futures in London yesterday opened C 0.90 to 12 per tonne down from Tuesday afternoon, closing in a turnover of 433 lots. Dealers said values eased under scattered selling in a rather hesitant market in front of today's Indian sugar selling tender for 150,000 tonnes of July/ Dec
      318 words
    • Article
      Rice
      203 4 BANGKOK rice prices were quoted unchanged as follows yesterday: (US dollars per tonne [.o b. basis Bangkok) White Rice: 100 pot Ist class 442. 100 pel 2nd class 427. 100 pet 3rd class 422 5 pet 413. 10 pet 400. 15 pet 302. 20 pet 387 25 pet 377.
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    • Article
      Soybean
      235 4 CHICAGO Soybean futures were unable to sustain an early rally and closed on a mixed note on Tuesday, with Nearbys on the downside. Final prices were several cents above late-session lows but the May contract finished with a loss of 10V, US cents a bushel, July closed four cents
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    • Article
      Wheat
      85 4 WHEAT futures closed half cent a bushel lower to half a cent higher after losing early firmness In Chicago on Tuesday. Local and professional selling took prices lower in the early minutes of the session but the market rallied for six-cent gains on commission-house buying Commercial selling and loss
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    • Article
      Copper
      299 4 COPPER wire bars finished the morning in London yesterday showing allround gains of L' 2 per tonne Earllng pre-market sentiment remained fairly buoyant reflecting the unsettled situation in Zaire with short-covering lifting Three Months up to £726 per tonne. But the higher levels were not maintained as commission-house liquidation
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    • Article
      Gold
      490 4 THE KILOBAR In Singapore yesterday opened at 5513.440 and moved to a high of $13,508, after which the market started easing dowi to a low of $13,413 before closing higher at $13,435. In loco London market, the metal opened at U*****.80/ 177.10 and closed at the same level. The
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    • Article
      Silver
      196 4 SILVER on the London Metal Exchange finished with gains of mostly 3.0 pence yesterday. Values were marked up at the outset of the premarket reflecting the-over-night close at New York dealers said. The market subsequently fluctuated around the higher levels with profit-taking absorbed by covering and fresh buying prompted
      196 words
  • MONEY AND EXCHANGE$
    • Article
      Singapore market
      469 4 THE FOREIGN exchange market yesterday saw the dollar opening at strong levels before easing marginally against the major currencies by the time London opened. Against the yen, the dollar opened at 228.00/20 and was traded gradually upwards to the day's highest level of 228.40/60. Before lunchtime. however, trading
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    • Article
      Asian $ and CD rates
      205 4 Asian and CD rates ASIAN currency deposit interbank rates as at close on May 17: US Dollar* (Spot) Offer Bid 7days 1 inlh 2 mths 3 mths 6 mths 9 mlhs 12 mths 79/16 7 1/4 .7 5/8 ...713/16 8 1/4 8 7/16 81/2 7 7/16 71/8 71/2 711/16 81/8
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    • Article
      Discount
      51 4 RANGE of prices offered by discount houses on May 17: Overnight 2% to 3%% Call deposits 3'»* Claaiag Buying Selling 3-month Treasury bills 3 1/4 3 1/1 3-month Bank bills 4 7/8 4 3/4 3-month CO 4 15/16 4 3/16 6-month CD 5 1/8 5 Source: National Discount Co
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    • Article
      MLR
      21 4 THE average rale at which Singapore banks are currently prepared to lend to their best customers is 7 per cent.
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    • Article
      Euro $ rates
      148 4 Euro rates LONDON Eurodollar deposit trading was quiet at the outset yesterday. Dealers attached no significance to Fed action on Tuesday when it drained reserves when Fed funds were trading at 7-3/16 per cent. Short dates held steady but the undertone was soft because of lack of interest. Fixed dates
      148 words
    • Article
      Treasury bills tender
      42 4 THE MONETARY Authority of Singapore Invites banks and discount houses to tender for a total of Ss3o million 91-day Treasury bills to be issued from May 23 to May 26. Each tender must not be for less than $250,000.
      42 words
    • Article
      London
      179 4 STERLING firmed in early J trading in an otherwise static market yesterday, with most major currencies opening unchanged against the dollar, dealers said. 1 The British currency advanced to U551.8137/42 from an opening of i 1.8100/10 which was little changed from overnight. There were no new factors to explain
      179 words
    • Article
      New York
      121 4 IN RELATIVELY light trading on Tuesday, the dollar closed at Its highest level of the session and against most currencies at its highest level since midJanuary. The mark closed below 47 US cents and the Swiss franc below 50 for the first time in four months, dealers said.
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    • Article
      Hongkong
      119 4 THE US dollar yesterday closed firmer at 228.25/40 yen compared with its 227.40 midpoint close in New York overnight in moderate trading. However, It closed slightly easier against other major currencies after profittaking reversed an earlier advance, dealers said. It closed at 2.1330/40 marks compared with around a 2.1355
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    • Article
      Tokyo
      133 4 THE US dollar for overnight delivery yesterday closed higher at 228.45 yen, compared with a 228.00 opening and 226.25 at Tuesday's close. Dealers said trading was fairly active, with a volume of US$397 million. The dollar's closing rate was the highest here since April 24. dealers said. After opening
      133 words
    • Article
      Eurobonds
      358 4 EUROBOND prices quoted on May 17: Strmichu Bid Offcr Total oil st*»W84 FFlm>»*87 Courtaulds stg 9 V. 88 EIBst*»*92 Ftsons stg 10* 87 Inco9 92 IncoSV.84 Sparbankemas 8*. 88 Shell 8 V. 90 8NCF8W84 EIB 8V| 88 EIB 8V, 93 ECSC8S85 Euroflna 8W88 Citicorp 1093 EIB stg 9*. 88
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    • Article
      Zurich
      61 4 ZURICH exchanges closing quotes on May 16: US 1 9626-6030 Stg 3 60*2-6114 Can 1 7966-7960 D Mk 93 6466-83 7377 D F1 87.1971 -4566 F FT 42 4632-5027 B Ft 6.006-0072 D Kr 34.7450-7715 N Kr 36.4446-4764 S Kr 42.6615-7167 Lit 0 2282-2284 Aus sch 13.0312-0420 Port 4
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    • Article
      Frankfurt
      47 4 FRANKFURT exchanges opening quotes on May 17: U8 2.1312/27 (2.1260/70) Can 1 8270/80 Stf 3 858/689 D Fl 83 30/45 S FT 108 86/107 10 Lit 2 435/445 F Fr 45.29/36 N Kr 36.63/99.03 B Fr (con) 6.36/40 B Fr (fin) 6 36/36 Yen 0 9330/50
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    • Article
      Australia/NZ
      58 4 AUSTRALIA and New Zealand exchanges on May AUSTRALIA: US dollar 1.1267/ 1.1226 Sterling 0 8256/ 0.6167 Ninety-day air mall buying rata* Sterling 0.6462 US dollar ***** Ninety Day forward buying rata*: Sterling 0 8280 US dollar 1.1245 NEW ZEALAND: Sterling 0.5567/ 0.5636 US dollar 1.0060/ 6 9982 Ninety-day airmail
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      52 4 This issue has been completed. This announcement appears as a matter of record. May 1978. UNITED ASBESTOS CEMENT UNITED ASBESTOS CEMENT BERHAD SPECIAL ISSUE OF 1,800,000 ORDINARY SHARES OF $1.00 EACH AT $1.80 PER SHARE. y Managed by MMUYSM >ISE4MB4NKERS M4L4YSI4 BERH4D 900,000 Ordinary Shares Privately placed 900,000 Ordinary Shares
      52 words
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  • TRANSPORT
    • Article
      New system to help jackups rough it out
      746 5  -  By RAHIM KASSIM SEMI SUBMERSIBLES have lost their advantage over Jackups and drill ships with the development of a new stabilising system by Sea-Tek Corporation of Santa Barbara California. The system, Slo-Rol, has been installed on three drilling barges belonging to Pemex
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    • Article
      Penang cannot take in latest containership
      247 5 MAJOR shipping lines are phasing out their conventional ships and replacing them with container ships which only call at Port Klang and Singapore. This was stated by the Penang shipping convenor of the Malaysian International Chamber of Commerce and Industries, Khoo 800 Hong. He
      247 words
    • Article, Illustration
      SHIPS IN PORT
      516 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES A 1 Yamamah (after Kota Slngapura sails) 47 Amanda (0600 after Yue River) 29/30 Brinton Lykes (after Ibn Battotah sails) 6/7 Centaur (1330 45 Gerber (after Palm Sea Horse sails) 16 Golden Eastern (0600 after Golden Glory) 23 Ibn Battotah (0530 hauls)
      516 words
    • Article
      Lock icon LONDON FREIGHT
      188 5 UPI POST-holiday chartering was inevitably in short supply and much of the Wednesday's fixture list relied upon the so-called overnight business. Time charter activity was again paramount with single voyage filing confined to a few liftings from the North American loading area. Time charter to and from the
      UPI  -  188 words
    • Article
      Lounging around
      125 5 AIR NEW Zealand is to Introduce a new loungetype layout for first class seats on its DC-10 fleet. The $200,000 plan will switch the existing 24 first class with 244 economy class seats to 16 first class in lounge-type layout with 252 economy class seats. The new configuration
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    • Article, Illustration
      Lock icon London port is falling down
      842 5 Reuter FEW communities anywhere have been more blasted by progress and technology than the docklands of London, once the Golden Gate through which the wealth of an empire poured into Britain. "We have reached the end of the road," port chairman John Cuckney has told
      Reuter  -  842 words
    • Article
      Lock icon WORLD SHIPPING STIRS
      111 5 Reuter THE RECESSION In world shipping may have bottomed out with trade having Improved In the first quarter 1978. Furness, Withy and Co. chairman. Sir James Steel, said the improvement Is partially due to the backlog of shipments from the US as a result of the recent
      Reuter  -  111 words
    • Article
      Surcharge up
      29 5 THE conference of Malta and Alexandra Steamship Companies said the congestion surcharge at Benghazi has been increased to 30 per cent from 15 per cent effective Monday.
      29 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      703 5 ARRIVALS Service Local Operator Number Time Prom MAS MH601 0700 KUL MAS MH682 0725 KCH SIA SQ101 0815 KUL MAS MH621 0840 PEN MAS MH607 0845 KUL MAS MH671 0945 PEN/KUL OIA GA980 1030 HLP CPA CX710 1005 HLP RBA BI323 1025 BWN SIA SQ103 1045 KUL
      703 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      216 5 Don't let us talk you into buying the new Audi 100. Just compare it with the Before the Audi 100 came along, you thought about a Mercedes 200, when you wanted a truly luxury saloon car. And your choice of cars was excellent. Now there's only one reason why you
      216 words
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  • Article
    Price of shunning Asean fair
    655 6 SINGAPORE'S performance at the Asean fair may convince more than one observer that local exporters tend to be snobbish In the business of export promotion, and end up hurting only themselves. The Asean fair, of course, Is a new thing. There are no established records
    655 words
  • Article, Illustration
    Wall Street on threshold of a big spurt
    593 6 INVESTORS throughout the world would give an eye-tooth and a hit more to know the answer to one question. Is the current rise in share prices in the United States indicative of a bear market rally, or is it the start of
    593 words
  • Article
    DOW THEORY
    273 6 NYSE COMPOSITE (ALL SHARES): A bull market signal has been clearly Klven by its having decisively exceeded the November rally. This Is confirmed by the NYSE Industrials and the Standard and Poor Industrial indices. DOW JONES INDUSTRIAL: By Tuesday night's break above the 846 level this index has
    273 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      383 6 Mm V 1 v- i j «c3Ki3c<& sinGopum FORUM HOTEL lOkMMtfkhf OMwMHM SM Orchard Bm4. B'pore t. Tri: *****2 Pebble Bar Experience the unique expression of Tanla Oreat Sound Big Show You'll love the dynamic and versatile Tanla For memorable yester hits and today s favourites. Only happens at the
      383 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      156 6 FROM May 17 —31: A tropical storm has formed in the Bay of Bengal and is likely to persist for another two to three days. The southwest monsoon is therefore likely to strengthen over Southeast Asia and bring early morning thundery showers or rain to Singapore during the next three
      156 words
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  • Article
    Environmentalists who didn't do their homework
    977 7 PROTECTING the environment, a care for ecology, the conservation of natural resources, the preservation of wild life all entirely commendable. And commendable also are the people who have made these causes their own. They are doing much good around the world and it is
    977 words
  • Article, Illustration
    Gloom over new Manila tax, labour codes
    1096 7  -  »y B. RONQUILLO THERE is growing belief In local business circles that the Philippines may lose its competitive position In the world market as a result of recent changes In its tax and labour codes which signal fundamental shifts in national policy affecting
    1,096 words
  • Article
    STRAWS IN THE WIND
    621 7 ALL the Tiger Balm In the world is unlikely to heal the wounds if foreign tourists get mown down by traffic at the Tiger Balm Gardens road crossing at Paslr PanJang Road, at about 10km. Travel agents and tour guides tell me they are fearful for
    621 words
  • Article
    USHIBA FEARS A REPEAT OF THE GREAT DEPRESSION
    869 7  -  FOBUH r ...on economics 1 ®r LEONARD SILK THE danger of a world depression and the political and military disasters to which It might give rise are very much on the minds of Japanese leaders today. Nobuhiko Ushlba, Japan's Minister of External
    869 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      318 7 syp i Lunch TODAY -OKOH TIiTS 9ft N s All the ingredients for an enchanted evening are here at Mirabelle. Romantic <9 ■> 3 branches for your convenience: SINGAPORE OKOH Supreme House, Penang Road. Tel *****1 OKOH OF GINZA Hong Leong Bldg., Raf'les Quay. Tel *****81 KATSURA Orchid Inn, Dunearn
      318 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Page 7 Miscellaneous Column 1
      321 7 SINGAPORE 5 3.00 PM Opening announcements followed by Free Hands (Repeat) 3.30 Diary of Events (Chinese) 3.35 Eight Heroes of Shou Lin (Repeat)* 4.25 Intermission 6.00 Opening announcements followed by Lassie Challenge of the Mountain (Pt. 1) 6.30 News in Brief 0 6.35 Timang Tinggi Tinggi (MalayRepeat) 0 7.05 Candid
      321 words
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Lock icon Stocks recover
      579 8 TOKYO Source: DBS Daiwa PRICES yesterday rebounded although caution prevailed throughout the market. Some blue chips that declined sharply on Tuesday, rallied on smalHot purchases but Investor enthusiasm centred on large-capital Issues &vtd cyclical Issues, still showing weakness of the perennial market favourites. Investment trusts still took a
      Source: DBS Daiwa  -  579 words
    • Article
      Hongkong
      438 8 TT!E market yesterday closed firm but below the day's high on increased turnover, dealers said. Hongkong Land rose 10 cents to $7.90. Hutchison Whampoa five to $4.50 and Swire Pacific 15 to $7.15 while Hongkong Bank. Jardlne Matheson and Wheelock were unchanged. Recently active second liners continued firm with
      438 words
    • Article
      Sydney
      359 8 MAJOR share price Indices yesterday rose to new highs again, with strong rises In leading mining and industrial stocks, dealers said. The rise Is ascribed to recent recommendations by British and Americans sources to buy Australian shares, good bank profits and Increased business spending reported this week BHP traded
      359 words
    • Article
      Manila
      89 8 MAY 17 Pesos Acoje Mining 0105 +0 0005 Atlas Con. A Atlas Con B 13 70 +0 3 Bagulo Gold 0072 unch BenguetCon.B 25 00 -0.5 BF Goodrich CDCP 17 30 ♦0.3 Inco B Le panto B 1350 ♦0.0025 Marlnduque B 320 unch Meralco 9 60 -0 4 Oriental
      89 words
    • Article
      Bangkok
      146 8 MAY 17 Bahts Asia Fibre 260 -3 Bangkok Bank 377 unch Bangkok Invest 370 -2 Bangkok-Metro-polltan Bank Bata BerllJucker CarpetIntnl 342 -4 Charoong Thai Wire 301 -9 Dumex Duslt Thani Faber Merlin First Trust 375 -1# Genera Finance 375 ♦2 Indo-Thai Industrial Finance Corp 2495 -30 J And J
      146 words
    • Article
      Jo'burg
      380 8 GOLD shares were harder on Tuesday following the trend In bullion prices though some Issues lost a few cents towards the close. Dealers said mining flnanclals were mixed In modest trading. De Beers fluctuated throughout the day to close two cents up at 592. Platinum shares featured the metals
      380 words
    • Article
      Selected indices
      66 8 FINANCIAL TIMES INDUSTRIALS Tuesday 481.6 Monday 485 0 Week Ago 471.1 DOW JONES AVERAGE INDUSTRIALS Tuesday 854.30 Monday 846.76 Week Ago 822 07 LONDON DOLLAR PREMIUM Tuesday 109'j to 110 Monday 108'. to 109H H.K. HANG SENG Wednesday 460.85 Tuesday 458.64 Week Ago 451.97 SYDNEY INDUSTRIALS Wednesday 427.42
      66 words
    • Article
      Generally mixed
      492 8 EUROPEAN MARKETS PRICES closed generally mixed on European bourses on Tuesday. In ZURICH, stock prices advanced after a long weekend in selective demand. Dealers said Interest concentrated on bearer shares and participation certlflces. In Irregular Industrials. Clba Oelgy Bearer and Registered, Sandoz Bearer. Sulzer Participation Certificates and Alusulsse
      492 words
    • Article
      Amsterdam
      236 8 MAY IC Fls ABN j 348 00 urtch Ahold 106 20 16 Akzo 28 70 0.1 AMEV 86 00 ♦0.3 Amfas ***** 1.2 Amrol Bank 76 90 -0.3 Bergoss 55 50 -0 8 Berk 98 00 -0.5 Bols 69 20 +0.1 BorsumiJ ***** -1.3 Burhmann 70 00 unch Byenkorl
      236 words
    • Article
      Frankfurt
      227 8 MAY l< Dm Aef-Telefunken 80 60 -0 6 Akzo 26 90 +0.1 Alii Leben 615B •3 AllzVers 463 •2 BASF 131 60 •1.1 Bay H T Wbank 274 -3 Buy Vbank 284B Bayer 137 -0 5 BBC" 281 SOB BMW 224 -0 5 Cassella 343 Chem Verw 237 -1
      227 words
    • Article
      Paris
      305 8 MAY I* rrs CORBEILLE Air-Uqulde 2M 90 -1.1 B S N G*rvals Danone 481 >10 C8F (Thomson Csf) 233.20 -IS Cle Francatse des Petroles 124 •1.2 Compagnie Financier* Compagnie Generate 343 -5 Credit Foncter De France 336 SO 1.8 Hachette (Libralrie) 172 ♦0.5 Machines Bull 35 60 ♦0.25 Michelln(B)
      305 words
    • Article
      Zurich
      185 8 MAY It Francs Actions Sutsses 270 ♦2 AlusulsseBr 1245 50 Alusulsse Keg 510 -5 Brown Boveri Br 1690 10 Ciba Oeigy Br 1225 -35 Ciba Getty PC 910 10 Ciba Gelgy Reg 628 -4 Credit Suisse Br 2215 5 Credit Suisse Reg 41S ♦4 Elektrowatt Br 1850 George Fischer
      185 words
    • Article
      Milan
      107 8 MAY IC Lire Ante 102 SO -0 25 Assoc Gen ***** -90 B-i>togi 458 13 Centrale 3652 72 Fiat 1977 13 Kinsider 80 75 2 25 Gen Inimob 72 -0 75 IF1 Pri 2181 10 Italcemenu ***** 157 Ilalga* 660 ♦6 ltalsider 154 50 ♦3 Magneti M PI 451
      107 words
    • Article
      Brussels
      94 8 MAY It Fn FORWARD MARKET Arcc 284 -1 Arbrd 2500 -85 A.\tur 710 unch Hrascan 497 4 Br u-Lamb 1625 10 Canpac 558 28 Cock 450 19 D«* Bffrs 167 1 Ebes 2295 -5 Electrobel 6600 -40 Gb-Inno-Bm 2045 -20 Grv 1320 -2 Hobok 2260 10 Prtro 4300 -35
      94 words
    • Article
      Lock icon Good start for Tilling
      103 8 Reuter LONDON: Thomas Tilling Ltd chairman Robert Taylor said the company has made a good start In 1978, outperforming growth of the sectors In which It operates an Increasing market share. He told the annual meeting spending on expanding and Improving the efficiency of existing business
      Reuter  -  103 words
    • Article
      Courtaulds
      21 8 PARIS: Courtaulds Ltd subsidiary Manufactures Lalnieres d'Alsace Berglas Klener announced at a works meeting It is going into voluntary liquidation.
      21 words
    • Article
      Shares move sharply higher
      1077 8 NEW YORK STOCKS moved broadly and sharply higher In heavy volume in a continuation of a monthlong rally on Tuesday. Analysts said the gain was fuelled by news that points to strength in the economy and a perception among Investors that Washington will act more decisively
      1,077 words
    • Article
      Toronto
      350 8 SHARE prices closed sharply and broadly higher In active trading on Tuesday, with the Composite Index up more than seven points and advances leading declines 282 to 186. Great-West Life Assurance rose 5W to Investors Group plans to offer $100 a share for Great-West shares it does not own.
      350 words
    • Article
      CHICAGO BOARD OPTIONS
      1312 8 May 16 VOLUME on the Chicago Board Options Exchange expanded to 230,067 contracts from 145,704 on Monday. OPTION JLY OCT JAN STOCK AlCO* Alcoa Alcoa Am Tel Am Tel Am Tel AUR AUR AUR Avon Aron-P Awn A»on-P Avon Avon-P Avon A»on-P Bank Am Bank Am Bank
      1,312 words
    • Article
      Lock icon Cons Ed files for rate increase
      134 8 Reuter CONSOLIDATED Edison Co of New York said it filed with the Public Service Commission for a 9.6 per cent Increase in annual electric revenue. It said it is seeking a 9.4 per cent or US$2l5 million annual increase in electric revenue from customers
      Reuter  -  134 words
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      Page 8 Advertisements Column 1
      116 8 in PAN Paperback LECAttE I THE HONOURABLE SCHOOL' HIS lates l i WORi I) BLS'lSbl.l 1 R •THE PREMIER SPY NOVELIST OF HIS TIME. PERHAPS OF ALL TIME I >1 h« Ihe ult iriiiitespionage novel. Hongkong. Vientiane art the settings and (ieorge Smilev .ind rompam are back ll i- hard
      116 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      NMB rights issue on one-for-10 basis
      133 9 THE rights issue proposed by Holland's fourth largest bank Nederlandsche Mlddenstandsbank (NMB), u is to be on a one-for-10 basis at F15.155 a share. It will > raise around F15.60 million Apart from strenghthenlng the bank's equity to correspond to the sharp V growth
      133 words
    • Article
      New BP traded options
      103 9 LONDON: The London Stock Exchange said it Introduced a new traded options series British Petroleum Co Ltd this morning, with an exercise price of 900p for July, October and January. Meanwhile, BP subsidiary Deutsche BP AG said it is shutting its Hamburg refinery until the end
      103 words
    • Article
      Burmah Oil
      79 9 LONDON: Chairman of the Burmah Oil Co Ltd Alastair Down said he is cautiously optimistic over the company's future. He told a press conference he believes Burmah will continue to recover from its loss-making position. In 1977 the company made a pretax profit of L' 3.61 million against
      79 words
    • Article
      Cons Gold closes mine
      72 9 LONDON: The economic prospects for the Wheal Jane tin mine in Cornwall are so uncertain that further investment cannot be justified. Consolidated Gold Fields Ltd, the mine owners said in a statement. The decision follows a meeting last week between UK Minister at the Department of
      72 words
    • Article
      Lock icon French group wins Caracas Metro deal
      323 9 EUROPEAN NYT CARACAS, (Venezuela): A French government consortium headed by the Soclete Oenerale de Technlqules (SGTE) has won a contract worth about US$249 million to provide rolling stock to the Caracas Metro. The French came out top in a hotly contested bidding competition among
      NYT  -  323 words
    • Article
      Krupp signs three Soviet contracts
      423 9 THE Krupp company In Essen has announced the signing of three large contracts with the Soviets worth at least DM3OO million. Krupp-Koppers is to build a DM2SO million plant to produce dimetnylterephthalate (DMT), a feedstock for polyester fibre production. The plant, which will use the
      423 words
    • Article
      IHC-Holland expects continued losses
      337 9 IHC-HOLL AND, the specialised shipbuilding group, expects losses to continue In its Dutchbased dredging and offshore divisions while prospects elsewhere, mainly foreign, are good. The two Dutch-based divisions made an operating loss of Fls. 9 million in 1977 (Fls. 36 million profit in 1976) while the
      337 words
    • Article
      Paribas to buy minority stake in SHK
      346 9 r i ASIAN h HONGKONG: Sun Hung Kai Securities Ltd and Cle Financlere de Paris et des Pays Bas (Paribas) said they reached agreement for Paribas to acquire a "significant minority stake" in SHK Sees. The companies said in a joint statement that
      346 words
    • Article
      Lock icon Ord Minnett very bullish
      197 9 AP NEW YORK: Ord Minnett, one of Australia's largest brokerage houses, is very bullish on Australian equities. Barrons Magazine says in its May 15 issue. The business weekly, widely read by US investors, notes that the 210-share Sydney All-ordinaries index reached fresh 1978 highs on three
      AP  -  197 words
    • Article
      Aussie firm confirms uranium find
      123 9 BRISBANE: Pancontlnental Mining Ltd said geochemlcal samples taken In the Otlsh Mountain area of Quebec In the 1977 field season confirmed the presence of significant uranium anomalies. In Its quarterly report for the period toend-March,the company said a programme of geophysical/ geochemlcal surveys plus rotary
      123 words
    • Article
      Lock icon Koyo Seiki gets order
      64 9 UPI TOKYO: Koyo Setki Co. of Tokyo has received a US$55 million order from Poland for a roller-bearing plant, outbidding foreign rival makers, the company said. The deal calls for construction of an Integrated plant with an annual production capacity of 12 million units of bearings
      UPI  -  64 words
    • Article
      Lock icon Ford expects lower profits in 1978
      124 9 Reuter FORD Motor Co chairman Henry Ford II told stockholders at the annual meeting, Indications are that 1978 will not be as profitable for Ford as 1977. He said that as previously reported, first quarter net Income dropped 3.4 per cent to US $488
      Reuter  -  124 words
    • Article
      Lock icon Reliance up in first quarter
      120 9 AFP RELIANCE Group Incorporated reports income for the first quarter of 1978 of U*****.5 million, up 12.1 per cent from $264.5 million In the first quarter of 1977. Operating Income after taxes In 1978 amounted to $16.9 million after deducting a foreign-currency loss of $2.3
      AFP  -  120 words
    • Article
      Lock icon Canadian Vickers
      52 9 Reuter CANADIAN Vickers Ltd said its parent company Vickerf Ltd is considering an offer from an unnamed buyer to purchase Its 72 per cent interest in Canadian Vickers. A company spokesman declined further comment. Trading has been halted on the Montreal and Toronto stock exchanges at the Company's
      Reuter  -  52 words
    • Article
      Approval for Hanover
      47 9 THE Federal Reserve Board said It approved an application by Manufacturers Hanover Corp to acquire two consumer finance companies from United Carolina Bankshares Corp. Manufacturers Hanover wants to acquire First Credit Corp of Whltevtlle, North Carolina, and First Credit Corp of Georgia, In Fayettevllle.
      47 words
    • Article
      American Express sets a record
      863 9 N AMERICAN AMERICAN Express Company has reported record first quarter earning* of US$B2.2 million, a gain of 24.3 per cent over the $50 million for the first quarter of 1977. Consolidated earnings per share for the period ending March 31 were $0.87, compared with $0.89
      863 words
    • Article
      Lock icon Is Heublein still in the frying pan?
      579 9 Reuter NEW YORK: How much a bird In hand is worth Is a key question facing Wall Street analysts in determining the current investment merits of Heublein Inc. Heublein In 1971 acquired Kentucky Fried Chicken, marking its entry into the "fast food" business
      Reuter  -  579 words
    • Article
      Lock icon Inland Steel close to record shipments
      187 9 Reuter INLAND Steel Co's second quarter shipments could come close to the record 1,615,000 tons in the 1974 second quarter, vice president Derrick L. Brewster told a press briefing. In last year's second quarter, Inland shipped 1.5 million tons. Mr Brewster said the traditional
      Reuter  -  187 words
    • Article
      CRA plans steel mill with Korf
      366 9 CONZINC RIOTINTO Of Australia—the local offshoot of the U.K. group Rio Tlnto-Zinc Corporation is considering building a Af 100 million "mini" steel mill In Australia In association with the Korf group of West Germany. If the venture goes ahead the partners will break the
      366 words
    • Article
      Lock icon Net income to drop at Pioneer Electronic
      304 9 Reuter TOKYO: Pioneer Electronic Corp said It expects net Income for the rull year ending Sept 30 this year to decline 6.8 per cent to 9.70 billion yen from 10.41 billion a year earlier, on estimated sales of 173 billion yen, up 5.1
      Reuter  -  304 words
    • Article
      Shenandoah sells out
      80 9 SHENANDOAH Oil Corp said it signed a letter of Intent to sell its assets, subject to its liabilities, to Pe-tro-Lewls Corp for an amount sufficient to provide a net cash payment of U5542.25 for each of Its 3,225,000 shares outstanding, if the purchase is completed as expected
      80 words
    • Article
      Lock icon Sears down in first quarter
      121 9 Reuter SEARS, Roebuck and Co earned an estimated US$l5l million or 47 cents a share In the first quarter ended Apfll 30, down from $154 million or 48 cents a share a year earlier, chairman Edward R. Telling told the annual meeting. First quarter sales
      Reuter  -  121 words
    • Article
      Lock icon Florida Power suit
      105 9 Reuter FLORIDA Power and Light Co said It filed suit against Westinghouse Electric Co In federal court here for damages the utility claims were caused by defective steam pipes in Its Turkey Point nuclear reactors. The breach of warranty suit does not ask for a specific amount
      Reuter  -  105 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      109 9 t*e* os e study with WJsevHall OXFORD Institute of Administrative Management Institute of Bankers Inst of Chartered Secretaries fa Administrators Inst of Stdtistif jni lr"idon Chamber of "on fa Industry HSC GCF A L,. k MCF SGGCE 0 i London AFP GCF A Modern Mathematics for Foulks Lvnch LONDON A»v
      109 words
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  • DEALS DONE ON THE SES AND KLSE
    • Article
      In Singapore
      1883 10 BID and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with the number oi shares traded shown In brackets in lots of 1,000 units Jjnless otherwise specUled. All Time Settlement Contracts are quoted word "sett". Big Board deal (In lots
      1,883 words
    • Article
      Government bonds
      147 10 Rep Spore D Mark 7% 1982 (100.000) (102'«B 102'«S) Rep Spore 6 1/2% 1983 (100.000) (IO2UB 103S) Rep Spore 7 3/4% 1987 (100.000) (99'»8 99 7 »S) I 3/4% IS/9/80 (250.000) (100 308 100 455) 5% 15/4/8J (250.000) (100 658 100 755) (4) 100.70 4) 100.71 5% T
      147 words
    • Article
      Corporate bonds
      260 10 Australian DBS 1/4% 1982 (100.000) (95',8 975) Australian D B 10% 1982 (100.000) (98'«B 995) B O T 8 1/2% 1981 (100.000) (IOO'.B 100SS) B O T 7 5/8% 1984 (100.000) (95<.8 95SS) B O T Floating 1984 (100.000) (99'»8 100 *S)' C Itoh 8 1/8% 1984 (100.000)
      260 words
    • Article
      Stock options
      156 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) (#.518 0.605). (Sept $1.70) (0.538 0.6&5). and C (June $2.20) (1.668
      156 words
  • Article
    SHARE INFORMATION SERVICE
    2554 10 1978 Gr'» Gr'i Net Low Last Div Div Y'ld P/E Vol Day High Company Sale +or- C'vr C000) High Low SECTION ONE INDUSTRIALS 181 132 Acma 175 1 12.ON 1.8 6.8 10.3 1 175 175 213 123* Alcom 202 10.0 2.2 4.9 14.9 151 112 Allied Choc
    2,554 words
  • Article
    In Kuala Lumpur
    2046 10 MID ;ind offer prices officially listed and business In and reported to the Kuala Lumpur Stork Exchange yesterday with the number of shares traded shown in brackets in lots of F.OOO units unless otherwise specified INDUSTRIAL! Amu (1.758). Ajtnamata (2.408 2 jdgV Alcorn (2 05B> (3) 2
    2,046 words
  • Article, Illustration
    Shares gain on late rally
    700 10 SINGAPORE THE market yesterday pulled the brakes on the strong bull run-up of the past week and retreated slightly on diminished turnover on the Stock Exchange of Singapore. A late rally on selected counters, however, saw the market rebounding to close mixed. On balance, advances
    700 words
  • Article
    KLSE makes good headway
    656 10 RENEWED buying vigour In most of the volatile stocks enabled the Kuala Lumpur Stock Exchange to recover considerable ground yesterdayT Although prices fell at the start under another round of profit-taking, this was well absorbed. By the noon close, sentiment had changed for the better, with
    656 words
  • Article
    Unit trusts
    156 10 SINGAPORE UNIT TRUST INCOME BOND UNIT I.Mtufm' price) far May IS) (CaiiH m fast) The Commerce 1.93 2 05xd INCOME BOND 106 1.11 The 8a vine Fund 120 1.27. S pore Pro® Fund 097 1 02 MARA BUMIPUTRA FUND S pore Security Fund 1.S6 1.97 (Maaa«m' price* First
    156 words
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  • COMPANY NEWS
    • Article, Illustration
      Pan Electric disappoints shareholders
      596 11  -  h MANO SABNANI A CASUAL glance at Pan Electric Industries' latest results would leave one with the impression that the group's performance last year was plain mediocre. Group pre-tax profit for the year ended Dec 31, 1977, recovered only 16.2 per cent to $6.21 million compared
      596 words
    • Article
      Harcros may announce details soon
      490 11  -  ly SUSAN BEYAN HARRISONS fnd Cfrosfleld is understood to be losing no time in getting out the formal documents outlining the details of its bid for Harrisons Malaysian Estate (HME). Shareholders can expect, to see then quite shortly and among those most eager to see
      490 words
    • Article
      Stock exchange takes API to task
      692 11 THE Stock Exchange of Singapore has come back strongly onto Associated Plastics Industries for the untimely and ambiguous reply on the reasons that might have accounted for the heavy speculative play on the shares prior to the suspension on May 4. Expressing dissatis- faction
      692 words
    • Article
      MAGNUM EARNINGS HIT BY PROVISIONS
      512 11  -  ®y DAVID CHOW DESPITE a burgeoning turnover and widening margins at Magnum Corporation, which saw group pre-tax profits up by a quarter in the last financial year, most of the gains have been hacked away by a bulky provision for extraordinary losses. While preliminary results
      512 words
    • Article
      Malakoff
      48 11 MALAKOFF has been queried by the KLSE about any expected change In profitability for the current year due to the proposed one-for-three scrip issue. It has also been asked if any change is expected In the amount of dividend payable on the enlarged capital for this year.
      48 words
    • Article, Illustration
      Datsun cars boost Tan Chong earnings
      619 11  -  By ARTHUR NG AS WIDELY anticipated. Tan Chong Motor ended last year with swelling coffers from sales of its Datsun models. Group pre-tax profft. turned in for th£ 12 months ended Dec 31, 1977 *j?o¥ nted to a marked $20.<J4 million a near twofold
      619 words
    • Article
      COMPANY MEETINGS
      285 11 Development Bank of Singapore Ltd: AOM to be held at DBS Building, Shenton Way, Singapore, at 11.00 a.m. on May 23. Sentosa Plvwood Bhd: AOM to be held at Guinevere Room, Hotel Merlin, Jalan Sultan Ismail, Kuala Lumgur, at 11.00 a.m. on Ma Supreme Holdings Ltd: EOGM to
      285 words
    • Article
      Traders
      70 11 STRAITS Trading has stated that its proposed one-for-three scrip issue is not expected to have any effect on profitability. The issue, it says, is to be capitalised from its general reserves, which consist of unappropriated profits, and realised profits from sales of investments and property. The new shares arising
      70 words
    • Article
      Sime Darby
      57 11 TUN Tan Slew Sin, chairman of Slme Darby Holdings Limited, leaves Kuala Lumpur on Friday for a week-long visit to Japan During the visit to Tokyo, Tun Tan will lead a team of senior Sime Darby executives in discussions with a number of leading Japanese commercial interests with
      57 words
    • Article
      HK Land to buy City Hotels
      169 11 DIRECTORS of Hongkong Land Company and City Hotels have agreed to terms whereby City Hotels will become a wholly owned subsidiary of Hongkong Land. Ther terms, which will be recommended to City Hotel's shareholders for approval, are that the shareholders will receive $40 cash
      169 words
    • Article
      JCMI sale of mining assets
      146 11 JACK Chia Mining and Industrial Corporation (JCMI) has stated that the consideration of 8.25 million Bahts (M 5950,000) for the fixed assets of its tin mine in South Thailand was arrived at through protracted negotiations. The mine in Phang Ngo Province, together with fixed assets,
      146 words
    • Article
      Dunlop
      35 11 DUNLOP Malaysian Industries has been queried by the KLSE whether it expects the one-for-five scrip issue to cause any change in the amount of dividend payable on the enlarged capital for the current year.
      35 words
    • Article
      DIVIDENDS ANNOUNCED
      844 11 Current Ex payment Date Books close Date payable Total forTotal for 1 the yearprevious year ST Steamship Bata (M) UOB Guthrie DBS Raleifh C.K.Tang Glenealy Dun lop Estate Tractors 8e. Properties M. Cables Inlraco Dunlop Industries High A Low Kulim Si me Darby MBS King's U.O.L Loan George
      844 words
    • Article
      SCRIP ISSUES
      180 11 Compamy Particulars Ex Date Books Cloee UiMPIuUtaa M.I— TUOnm (hntluMLMi MtkruHMr StnltoTntec Hsaf Lilt UmHn 1 Bonus Issue of 1 for 10 Bonus Issue of 1 for 3 Bonus Issue of 1 for 3 Bonus Issue bf 1 foe 2 Bonus Issue for 1 for 3 Bonus Issue
      180 words
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      240 11 FAR EASTERN FREIGHT CONFERENCE SAB AH, BRUNEI ft SARAWAK FREIGHT CONFERENCE NOTICE TO SHIPPERS PORT CONGESTION BENGHAZI Reference is made to the Notice in the press on Thursday, sth January 1978. The member Lines of the above Conferences have reported that port conditions at Benghazi have deteriorated and as there
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    Lock icon Below 0.5 pc Euro credit margins possible
    297 12 Reuter A PALL below 0.5 per cent In Eurocredlt margins is a possibility, with Triple A government borrowers having a good chance of negotiating even below this level. At a press conference in Brussels, the managing director of European Credit Bank, Hans Klppenberger
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    Lock icon Big 'push' for trade curbs
    134 12 Reuter BRITISH Foreign Office Minister Frank Judd said that he had sensed big pressures In the US for trade protectionism during his talks with Administration officials. Mr. Judd said there are big pressures in the US for protectionism, as elsewhere "and that has come across
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    Lock icon HK query
    56 12 AFP HONGKONG was to raise the problem of Norway's unilateral Import restrictions on Hongkong textiles at the council meeting of the General Agreements on Tariffs and Trade (Gatt) yesterday. Srade director Lawrence Is said Hongkong would request that the matter be Investigated by the contracting parties. He described
    AFP  -  56 words
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    Ticking at a good rhythm in S'pore
    695 12  -  NEW $4m MARSILING PLANT By RONNIE LIM RHYTHM Watch Company, the largest clock manufacturer in Japan and part of the Citizen Oroup of companies, will set up a $4 million manufacturing plant in Singapore In the first phase of Its long-term investment plans
    695 words
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    Lock icon HIGH U.S. BUDGET DEFICIT WILL SAP GROWTH
    1019 12 NYT Reuter FAILURE to reduce the. United States' budget deficit below US$5O billion (Sslls billion) could lead to prime rates peaking at 10 per cent and inflation running around 8 per cent by year's end, economist Alan Greenspan told a Chicago Mercantile Exchange
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    LONDON STOCKS
    751 12 LONDON. Wed. Stock prices closed quietly mixed with government bonds moving narrowly equities mixed to easier Lang-dated gilts were around easier after earlier recovering slightly with sentiment still unsettled by the fall in sterling But shorts were fractionally higher due to selective buying Leading industrials were mixed to
    751 words
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    Lock icon Use of rubber forecast to jump 60pc
    276 12 Reuter WORLD consumption of new rubber is projected to reach 18.8 million tonnes In 1988. The International Institute of Synthetic Rubber Producers (lISRP) said In Its 10-year forecast that this figure suggested a 57 per cent gain over last year's total of 12
    Reuter  -  276 words
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    Century Park Hotel project may cost $72m
    276 12  -  By TSANG SAU YIN CENTURY Park Hotel may eventually coat $72 million when completed, of which 70 per cent has been met. Borrowings from three local banks Oversea-Chi-nese Banking Corporation, Development Bank of Singapore and United Overseas Bank and other sources including Japanese
    276 words
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    Lock icon Optimism over tin prices
    98 12 Reuter WORLD TIN prices'are expected to recover soon despite a setback in reaction to a US House panel's approval on Monday that authorises the US to sell an additional 30.000 long tons of tin from Its strategic stockpile. This was the view of Bolivia's tin experts
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    Lock icon Japan may go easy on banks
    562 12 Reuter JAPAN Is expected to change its attitude to foreign bank operations in the near future. EEC commissioner for financial institutions Christopher Tugendhat was reporting in Brussels on three days of talks In Tokyo last week with Japanese Finance Minister Tatsuo Murayama and other
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    Trade surplus down in April
    536 12 JAPAN'S trade surplus in April fell to U552.24 billion (SSS.24 billion) from $3.13 billion in March, but rose from $1.78 billion in April last year. April F. 0.8. exports rose 14 per cent from a year before to $7.7 billion, while F. 0.8. imports were
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      229 12 •r n v m M I I t V +*r I.V $105/-POST FREE 310 pages. 30 x 27.5 cm with 253 illustrations including 92 plates in full colour In the kingdom of flowers, orchids are the undisputed glamour queens. Their elegance of form, vitality, and almost sinister exoticism give them
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    SHIPPING TIMES
    4342 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 Consortiums ScmnDutch hu k Joint service
    4,342 words
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      339 13 Offers Regular monthly Express Conventional Sailing To ARABIAN-IRANIAN GULF f or further details c jH Singapore *****46 Kuala Lumpur: ***** Port Kelang: *****0 Penanß: ***** 1 STRAITS TRANSPORTATION PTE. LTD. COMPANIA NAVIERA MARASIA, S.A. FULL CONTAINERSHIP SERVICE TO MO FROM BARCELONA DISCKitCIHC LOADING BARCELONA P KELANC STORE P KELANG BARCELONA
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      375 13 4J=k± iZ y _/H*titime ile Pte.Jlt). 304 305 3rd Fi Ocean Bk)g Col»yo< Quay Spo'e 1 Tel ***** ***** (2 Lines) Afenls for P.T GESURI LLOYD P.I. BAHARI BAHTERA. JAKARTA ETA ETD Destination •MVBAHARI 20 May 25 May Balihpapan/Baniarmasm MV BAGUS 21 May 25 May B maun Sampit Semaranj S'baya
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      309 13 ARAB LIME SAUDI ARABIA ARAB ALMIJAZ (Saudi Flaf) Vayafo—ol ARAB ALHIJA2 (Saudi Flat) Voyift—o2 S pare P Kotanf Loading far 5/ SJun 11/14 lun Dafcai/Abv Dhabi/ 1/ 2 Am| Dubai/Abu Dhabi/ AQ en's UNIPACIFIC TRANS TRADING AGENCY PTE LTD 'ei 9U341 ib linesi SINGAPORE Sub Aqmrt ORIENTAL SHIPPING CORPN I
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      136 13 j NOTICES m.v. "VISHVA BINDU" VOY:. 25 arrived 16th May, 1978. at P.S.A. GO DOWN Not. 13/14. General Survey of damaged cargo ex the above vessel will be held on Saturday 20th May. 1978, as from 9.00 a.m. to 1.00 p.m. No further survey will be held after this date.
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      12 13 FORTNIGHTLY TO MIDDLE EAST SEA MY RCrMUMTED CONUINCI JIWICE BOOKING TEI *****22
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      481 14 SHIPPING iA AGENTS ANGLO-FRENCH TRADING S.ngapore «uil- tumpur 03 *****4. 03 *****7 Bookings *****11 *****89 Port KHjng *****13 CFS ***** CFS *****66 Terminal *****61 P-nang 61S1SS Ipoh 05 2663^1 SUMA Q COPE NHAHF N LINE EXPRESS SEMI-CONTAINER SERVICE TO EUROPE TRANSIT STRAITS/UK-CONTINENT 21/24 DAYS S'PORE P KELANG PNAKG R OAM
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      807 14 a SANKYO LINEI AUSTRALIA SERVICE P. TUE RIVER IN PORT MAY BREEZE 22/24 May SEA BLOOM 4/6 June SMtcapwt tMdmftor. SAILED FRE, ADEL, MEL. STO 20/21 May BRIS. STO, MEL 7/1 torn AOEL, MEL,! BRIS. STO. MEL AOEL. MEL, STO BANGLADESH SERVICE MAT PRINCE 19/20 May IN PORT CHITTAGON6, CHALNA
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      402 14 0 SEA JLAND U.S.A./ ASIA SERVICE DRY REFRIGERATED CONTAINER SERVICE 1 VESSEL/VOYAGE GATEWAY CITY V-697 PONCEV-325 GATEWAY CITY V-698 PONCE V-326 -EAST SERVICE EE mi nonr mcdnesoat for pons m us*. nom com. Thailand mo murrma. Vessel C.F.S. Closes Arrives/departs 500P.M May 23/24 May 22 .May3o/31 May 29 Junt S/7
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      867 14 ■I 3^ ARGENTINE NATIONAL LINE" j LOADING FOR DURBAN CAPETOWN! BUENOS AIRES *««*P*r» P Um l/ltfc* 11/12 tax U/14J* 2SI^?2!?. ,Ua LCO ACAAITIA CORINTO SAN JOSE. PUNTA ARENAS <OBTA*>CAi COATZACQALCOS. VERA CRUZ AND TAN HONGKONG I MMMTEICHTT/AMfMK) eJvTii N FERNANDOf VERETTAMPARO 24/25 May n/2J Jg/Zl Chilena de Navegacion interoceanica d
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      470 14 n SHIPPING TIMES. Thureda mm JARDINE —ANIAII H I Orient Overseas Co*dcu*ieA. Line fully containerised J*4 24/5 8/5 1/8 1/6 I/I l/l 15/6 K/f 21/1 22/6 21/6 a/6 5/7 6/7 lOMCNTAICHICFM ,1 SUS MOCE 1M 1 1 f- II Ll TT?T?TCT?TTrrnM'PTt7f?W7T'rTTrTiT7yr!^^(i# V»' ;yfl a ini T i IcnnfW.it* wot. ue
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      1222 15 QCL Overseas Containers Limited cwrmosaip service t» h/cwtinent: H'burg Rdam l« S'ton S port P. Kelang D'mark Br em. A'aerp Ha»re U.K. CITT m eiinivrii u iJ— tm m M 4*• KAHUURA MAM II MM lin tl Ja 11 la U la 7 Ja ••(KM EXPMIB Sb| 1 la I
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      1241 15 Ben Ocean Ajctfaerncirfßto line Bhi&FlwinelGteriLme and NSMO Tl OR/CONTINENT tMd 0«t Siipm Kalaa* Pliant [iroN PATROCLUS Sailed IT/11 May tl laa letaoes, Bilbao. Amst. H'bar*. Mull. L'pool. BENVANNOCH 4/ I Jaae 1/Htm 0/10 laae S Jaly LisDoa, Leiaoes. Tilbary. Hall. PMtONTIS 11/14 Jim a/a Jaae 11/11 laae 1? My Bilbao.
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      715 15 (3*5 BEN LINE CONTAINERS LIMITED N-MtK IHUH ROAM HAVRE SOTO* P. Mb* W. G»Mf/Mn how F rsn* AU UJL IM(TMM) 4 ;-M tan 14 tan 7 tan n* (14 imi u tan in* (1* tan) 11 tan m n tan tan tal» I talj If tan 11 tail I tab
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      994 15 Scan Dutch 9 WESTBOUND TO MED/UK/ CONTINENT/SCAN DIN AVI A f eefle' frna P. MIMt VtMtl (LUMU SaiM Hl* Min francesca .1/») uumu msi sIL Spor* b M»ilt** a Mm s I FRANCtSCA 4/ lUUOH 11/ ntNIIU 11/ I) ELIAMORA a/ f) SELANIIA NIMN NO Ml IMA Urtu mnli actt*t>af
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      727 15 GUTHRIE BOUSTEAD Z P ncT'S THE BANK LINE LTD. IMB FIR L ft S. AFRICA FORTUNE ITU (Mwritias. ttvfi.ofl. a*.- n. Taap, Maiaa«a DwrM. t.L. p.icapttoM) taintin ii Marn p. Rana« im m s-aaro v fmm tin i wn uttci fn i«w". wau LAURELBANR P»BMf P. W*| la Pt/IB Maj
      727 words
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      889 16 1 'K' line KAWASAKI KISEN KAISHA. LTD. mOHHEBE2aIffiE9 (VIA SUEZ) by CMtMMT VtmH to nmon S'jore P Kelang L.Havre H'bur? Bremen R'dam A'w REPTME KAJU. W SaUatf la Part Übm IJaa IJaaa HJaaa CHEVALIER R92E IV 23 Mar 11 17 J!* IXCONTAINER IIW 2 JaM 3 JMa 22 JaM 24
      889 words
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      1029 16 F.C.-U.S.JL/ATLANTIC/GULF SERVICE acceptinc ray La containers fmn rmc. t. hum. poiim urtwi Notfout, new ran. new mums, imstm. Snpoort P. (along Belaaan hmi| "VISNVA BNAKTI" (MM 71 SCI) W* km Vltt J«M JMr >/ I M E.C./GREAT LAKES SERVICE Laadiag for: NORFOLK, NCW YORf, NMTHU. "VISNVA VIIHUTI" (NRSA 11 SCI)
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      1028 16 NEPTUNE ORIENT UNES LTD 'FULLY CONTAINERISED SERVICES: n EMOPE (VIA SKZT NEPTME PUM cnevalieimze* siq May iiib» is J* 11 NONCMM CMTAINER 21m J it km KJbbo tilm Mi MERCATM iiw I tan Htm »km IMy ORIENTAL CIIEF 15 Jm II Mm JMy 7*V IMy SEVEN SEAS MIKE 711 m
      1,028 words
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      665 16 MAIAVSIAN «VTTHNATtONAL SHIPPING CORPORATION BfPHAO EXPRESS FULLY CONTAINERISED SERVICE TO/FROM MED/UK/CONTINENT/SCANDINAVIA VEST MUM EXPRESS CONVENTIONAL SERVICE TO UK/CONTINENT *t Mam P. Kt'lKf Il ftrt UNIONS H.HHW I BUNCA MIUTt 9 INU RATA > II a May Bloni 36. C«<«/Lpool 10/6, Hburf 16/6. Roan 19/6. Aaerp 221, LHavre 23'0, LOon 25/6
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      686 16 t INTRASEA (PTE) LTD. > (t)'" Houst' .•'-If- O'C'M'C! Siny.i; I J\»l' 1 JS4I 5' I RfCILAR INDEPENDENT SWI/FBI CMTAINII SERVICE TO EBNPC S pore P. Kalaaf P(«i«| Laa4«e Mr: M.V. Him ICmtr mp) •UtIS HISPANIC »llt ATOMIC >4 Mar MM *M.». ESTEM.ICK (Cwtr MMP) It Mar |k rt/l Mr
      686 words