The Business Times, 27 May 1978

Microfilm: NL9690
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    11 1 BUSINESS TIMES M.C.(P) No. 213/1/78 SATURDAY, MAY 27, 1978 50 CENTS
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  • BRIEFLY...
    • Article
      Lock icon No oil cut
      65 1 Reuter. JAKARTA, Fri. Indonesia has no intention of cutting its oil production despite an appeal by Opec that its members reduce their output, according to Mining Minister Soebroto. The Opec appeal to reduce output by some 20 per cent In the face of production from Alaska and
      Reuter.  -  65 words
    • Article
      Now it's noise
      83 1 NARITA, Fri. Tokyo's trouble-plagued new airport today was reported to have yet another problem unexpectedly high noise levels from jetliners which have caused complaints from local residents. Tests conducted by two local authorities have shown that a landing Boeing 707 caused 102 phons (noise measurement units) more
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    • Article
      Lock icon Rupee revalued
      48 1 Reuter. BOMBAY, Fri. The Reserve Bank of India today revalued the rupee against the dollar by 2 per cent. The new buying and selling rates from today have been fixed at 8.20 rupees per dollar for spot buying and 8.60 rupees per dollar for spot selling.
      Reuter.  -  48 words
    • Article
      Lock icon Favourable Malaysia
      55 1 AP. KUCHING, Fri. The United States considers Malaysia a country which offers very favourable conditions for foreign Investment, US Ambassador to Malaysia Robert Miller said today. Mr. Miller said investment from his country In various industrial projects amounted to about US$BOO million (551.85 billion). He was on a
      AP.  -  55 words
    • Article
      Lock icon ADB accepts
      48 1 AFP. MANILA, Fri. The Asian Development Bank today announced acceptance of a further contribution of about U*****,000 (S$580,000) from Australia to the bank's technical assistance special fund. Australia earlier made four contributions to the special fund in 1970, 1972, 1973 and 1976 totalling about $966,000. AFP.
      AFP.  -  48 words
    • Article
      Lock icon Prime followers
      87 1 UPI NEW YORK, Frl. Major banks in New York and elsewhere today followed Continental Illinois National Bank and Trust Co., Chicago, in lifting the prime lending rate one-quarter per cent to 8 1/2 per cent, the highest level in three years. Chemical Bank and Morgan Guaranty Trust, New
      UPI  -  87 words
    • Article
      Lock icon Fiat's latest
      63 1 UPI. ROME, Fri. The Fiat Auto Company plans to invest an additional 500 billion lire (551.25 billion) in southern Italy in 1978-81, creating 5,800 new jobs, company president Gianni Agnelli told Premier Glulio Andreottl in a meeting today. Over the past seven years, Fiat Invested about 950 billion
      UPI.  -  63 words
    • Article
      Lock icon Dow Jones
      73 1 UPI. NEW YORK, Frl. A widening of the US trade deficit and a boost in the prime lending rate by most of major American banks helped turn prices lower today in early trading. The Dow Jones Industrial average added to its loss so far this week with another
      UPI.  -  73 words
  • Chief Price Changes
    • Article
      In Singapore yesterday
      140 1 Rises Most active EAI 240 +76 Pan Electric 641.000 172,000 169,000 150,000 136,000 Oriental Hide* 460 56 UOL Premium Hldga Rahman Hyd 130 444 18 14 Supreme Corpn (JOB P M Hldgs Guthrie 197 146 12 12 City Dev Straita Trading 705 10 Total Turnover: 6.81 m
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    • Article, Illustration
      In Kuala Lumpur
      149 1 Rises D. Keramat 9.20 Bt. Semb 2.82 M. Box (S) 2.86 Town and City 1.32 Premium Hldg 1.28 O.U.E. 1.90 Sg. Besl 6.45 B. Kawat 2.17 C. Prop 1.63 A. Choc. 1.71 Falls .25 +.16 +.16 +.13 +.12 .10 +.10 +.09 .08 .08 Most active Pahang Cons
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  • Article
    Malaysian loan sets the pace
    1010 1  -  USSIOOM REFINANCING By COLIN CHEE TORONTO Dominion Bank's US$lOO million syndicated loan to Malaysia will mean a further cut In rates to prime Asian borrowers. The 10-year loan carries a per cent interest over London interbank offered rate for the first four years and y*
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  • Article
    Lock icon U.S. APRIL TRADE DEFICIT AT $6.5b
    234 1 Reuter. THE United States registered a US$2.B6 billion (556.5 billion) foreign trade deficit In April. The first four months of this year chalked up a total $12.53 billion compared with $7.60 billion for the same period a year ago. If the trend continues for
    Reuter.  -  234 words
  • Article
    ICB public offer is in the wind
    515 1  -  By ARTHUR NG RUMOURS are buzzing in stock market circles that the Industrial and Commercial Bank is planning to join Its banking brethren on the Stock Exchange of Singapore early next month. It is reliably learnt that the ICB group Is planning to
    515 words
  • Article
    When KL will help
    342 1 MALAYSIA'S Manpower Department will only help bona fide overseas employers to recruit Malaysian workers If It did not entall the outflow of skilled labour needed in the country, a spokesman said yesterday. "If a foreign employer enlists our aid in recruiting local workers, we will check
    342 words
  • Article
    Lin and Phillip now in SBS delivery scheme
    259 1 LIN SECURITIES and Phillip Securities will be allowed to deal in the Singapore Bua Services (SBS) shares on behalf of Central Provident Fund (CPF) members holding CPF custodian receipts. The CPF has notified the Stock Exchange of Singapore (SES) it will accent
    259 words
  • Article
    RAS attacks conference's divide and rule ploy
    537 1  -  ■y RAHIM KASSIM THE Separate Merchants Agreement (SMA) between the Freight Committee of the Rubber Industry of Malaysia and the Far Eastern Freight Conference signed last August would only help to remove the conference's competitors and eventually give It control over local shippers.
    537 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
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      Page 1 Advertisements Column 2
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      Page 1 Advertisements Column 3
      79 1 Julias CALL for national minerals policy in Malaysia SEA-LAND conta FORUM on investment 7 a NEW food for thought on SEA-LAND containers pose ending poverty 7 COMPLTTER m 5 at your family 5 Marcros offer H LETTER from America: Old KERAMAT profit boosted 11 hands help aspirants to do GROUND
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      Page 1 Advertisements Column 4
      3 1 Leader Page 6
      3 words
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      Page 1 Advertisements Column 5
      76 1 Everett Lines FOR THE MOST FRCQUtMT SAILINGS TO BANGKOK HONGKONG •JAPAN FUSAN. Everett Steamship Corpn. S/A ASEAN BUSINESS QUARTERLY I I Please send copes ol ASEAN BusnessOuarterty at Sslo per copy My cheque tor SJ is attached I am interested in recewng ASEAN Business Quartefly regularly, please send details Name
      76 words
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  • TRADE AND INDUSTRY
    • Article, Illustration
      National policy on minerals sought
      766 2 DEMAND, SUPPLY CHANGING PLAGUED by domestic and international problems, the tin Industry has called on the Malaysian government to formulate a national minerals policy to ensure its long-term welfare. Such a policy, said Enclk Abdul Rahim Akl, the president of the States of Malaya Chamber
      766 words
    • Article
      Post haste to three more destinations
      208 2 THE Postal Department will be starting two express delivery services, one to the United States and the other to Hongkong and the United Kingdom. The express delivery service to the US, starting on June 1, will provide for" special delivery In the US on
      208 words
    • Article
      Managing co-ops
      141 2 A THREE-DAY cooperative management course for officials and senior staff members of cooperative societies is being organised by the Registry of Cooperative Societies. Lectures will be conducted at the Ministry of Social Affairs' training room on May 29, 31 and June 2 from 7.00pm to 9.00 pm. Participants
      141 words
    • Article
      Lock icon Resilience of HK textile industry
      339 2 AFP A TEXTILE and clothing technology exhibition closed yesterday after a week's successful run. It was organised by the Hongkong Productivity Centre to introduce new technology, material and machines to the Industry. Twenty-seven local and overseas machinery and material suppliers displayed a comprehensive range of
      AFP  -  339 words
    • Article
      Lock icon A furniture colony
      141 2 AFP. HONGKONG has an unusually large market for modern furniture and some countries have noticed this, Director of Trade and Industry David Jordan, said yesterday. Speaklnar-at the Inauguration of the Federation of Hongkong Furniture Manufacturers, Mr. Jordan said these countries had last year exported HKS2OO million (about
      AFP.  -  141 words
    • Article
      Lock icon Don't rock the boat warns Fraser
      110 2 UPI PRIME Minister Malcolm Fraser on Thursday warned shipping employers and the Waterside Workers' Federation that the government wanted a speedy settlement of a dockslde dispute which is Jeopardising trade with Europe. The dispute has already caused losses up to AS22 million (SSS7 million).
      UPI  -  110 words
    • Article
      Office bearers
      47 2 DR. WONO Kwel Cheong of Aiwa Atlas Electronics nu been re-elected chairman of the Association of Electronic Industries. Other office bearers elected are: Robert Tay of Elite Manufacturing, Sally Chong of Slngatronlcs, Hwang Koh Chee of National Kap. and H.T. Chua of Roxy Electric Industries.
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    • Article
      KL calls again for realistic tin price
      285 2 THE FREQUENCY of the call for a remunerative ud yet fair tin price range hat made it to Bound more like a confrontation rather than normal negotiation, Malaysia's Primary Industrie* Minister, Datuk Amar Taib •aid. He repeated the warning that unless i realistic
      285 words
    • Article
      Lock icon MARCOS BOOSTS EXPORTS
      108 2 Reuter PRESIDENT Marcos has signed a decree to facilitate effective Implementation of the government's strategy to boost exports. Full details of the decree were not immediately available, but the Philippine Export Council recently recommended to Mr. Marcos that the entire government machinery, especially tax and Customs practices
      Reuter  -  108 words
    • Article
      Lock icon Japanese aid metal industry
      274 2 UPI, AFP THE Japanese House of Representatives (Lower House) Commerce and Industry Committee yesterday adopted a resolution to apply emergency relief measures to the Japanese non-ferrous metal Industry, now in a serious slump. The resolution called for the setting up of a special fund with contributions
      UPI,; AFP  -  274 words
    • Article
      Lock icon Liberalise more farm produce, Tokyo told
      291 2 Reuter. A SENIOR New Zealand trade official said yesterday he hoped Japan would liberalise further Its Import restrictions on agricultural products at the multilateral trade negotiations (the Tokyo Round) In Geneva, Tokyo government sources said. Harry Holden, deputy secretary of trade and Industry, made
      Reuter.  -  291 words
    • Article
      Maintenance fees up
      225 2 MAINTENANCE fees for sewage treatment plants will be Increased from next month. The Ministry of the Environment announced that the revision will affect 1,109 plants serving .1,887 premises. The increase will be based on maintenance costs and the size of the plants. The additional monthly fees range
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    • Article
      Lock icon Over to you, Thai PM tells investors
      143 2 AFP. THAI Prime Minister Krlangsak Chamanand yesterday called on foreign chambers of commerce In Bangkok to help promote Thai exports and increase investment in Thailand. Speaking at a luncheon hosted by foreign chambers of commerce, Oen. Krlangsak declared, "I have done my part
      AFP.  -  143 words
    • Article
      MEMO PAD
      280 2 COURSES AND TALKS May 8-Aug 17: Aust Insurance Institute Assoclateshlp Course, SITC, SITC May 15-June 5: Compensation ft Employee Benefits, Hilton, POD May 29-31: Modern Techniques ft Strategies for Mngt. Problem Solving, SIM, SIM May 30-June 2: Management of Sales Force, SIM, SIM May 30-June 6: Senior Management
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    • Article
      Fair dolls which dress up to the nines
      184 2 THE MATCHBOX Toy Fair now on at Sin Chew Jit Poh Building is part of Lesney Products' plan to Introduce new models Into Singapore. One main attraction at the fair is the Suky doll which Is about 13-cm tall. It was put
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    • Article
      Our world in concrete conference
      104 2 THE READY-Mlxed Concrete Association of Singapore Is sponsoring a conference on "Our World In Concrete and Structures" on Aug 24 and 25 at the Shangri-La Hotel. The conference, the third, is designed exclusively for all concrete users, architects, engineers, builders, contractors, manufacturers and businessmen. This
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  • Page 2 Advertisements
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      623 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 4 Damp and cold, like an oyster? (6) 7 Make overtures to a PRO chap (8) 8 The agreement as forwarded 10 Had an odour of fish (5) 13 Statesman and bird lover? (4) 14 Cover with skin (4) 15 Raymond's vocal sound (4) 16
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  • OVERSEAS
    • Article
      Lock icon Move aims to lessen rate uncertainties
      976 3 Reuter. THE BANK of England's statement that it will henceforth set Its minimum lending rate in consultation with the Chancellor of the Exchequer Is aimed at diminishing uncertainties about interest rates. Government officials believe these uncertainties may have led In the past year to
      Reuter.  -  976 words
    • Article
      Lock icon Swiss steps in doubt
      501 3 Reuter. SWITZERLAND'S very stringent measures to prevent excessive appreciation of the franc should stem capital Inflows but do not guarantee that the currency will escape further upward pressure If International exchange markets continue unsettled, the Organisation for Economic Cooperation and Development said. In its annual review
      Reuter.  -  501 words
    • Article
      Lock icon Harmony makes Japanese factories hum
      212 3 AP A SYBTEM of labourmanagement relations booed oa harmony between r?\» is portly responsible Japan's rate of productivity growth being almost three times as high as thoee in the Western countries in the last decade, says the chairman of the Japan Productivity Centre in Tokyo.
      AP  -  212 words
    • Article
      Lock icon CAPITAL SPENDING DOWN IN BRITAIN
      120 3 Reuter. CAPITAL expenditure in the UK declined in the first quarter to £1.02 billion (554.32 billion) at 1970 prices from £1.06 billion In the fourth quarter of last year. The first quarter figure last year was £989 million, provisional Department of Industry statistics show. Spending
      Reuter.  -  120 words
    • Article
      Lock icon Carter digs in for the inflation battle
      1146 3 SEVERE CUTBACKS PLANNED NYT, Reuter PRESIDENT Carter plana severe cutbacks In what he called a very tight fiscal 1980 budget to check inflation, and he Is willing to take the political heat from special Interest groups that this action might cause. In congressional
      NYT,; Reuter  -  1,146 words
    • Article
      Lock icon Hedging with new CDs boon to US investor
      440 3 Reuter AMERICAN investors who want to safeguard their money against any further weaknesses In the US dollar now can buy Certificates of Deposit (CD's) Issued In America by a West German bank. The New York branch of Deutsche Genoosenschaft Bank on Thursday
      Reuter  -  440 words
    • Article
      Lock icon Continental Illinois ups prime
      129 3 Reuter. CONTINENTAL Illinois National Bank and Trust Co raised Its prime rate to 8-1/2 per cent from 8-1/4 per cent, effective yesterday. The bank Is the first to move to this level. Earlier this month, major banks boosted their primes to 81/4 per cent from 8
      Reuter.  -  129 words
    • Article
      Lock icon SYDNEY GOLD FUTURES MARKET PICKS UP
      306 3 Reuter. THE fledgling Sydney gold futures market Is considered successful although the Reserve Bank's embargo on non-resident trading is holding back volume. The number of open positions In the five-week-old market, 679 at the end of last week, Is a healthy sign, Sydney futures
      Reuter.  -  306 words
    • WORLD IN BRIEF
      • Article
        Lock icon NORTH SEA BOUNTY
        557 3 Agencies. THE BRITISH sector of the North Sea provided 46 per cent of Britain's crude oil supplies in the first quarter of this year, the UK Energy Department said in its Energy Trends report. Indigenous oil production comprised 11.1 million tonnes out of total supplies of 23.9
        Agencies.  -  557 words
    • Article
      Lock icon Simple tools to wipe out poverty
      255 3 AP THE US House of Representatives Appropriations Committee, approving a US$7.3 billion (SSIO.B billion) foreign aid bill on Thursday, said more money should go to ploughshares and simple tools that peasants can really use. The only hope of ever improving world poverty Is to
      AP  -  255 words
    • Article
      Lock icon Dresdner shines at American gold auction
      219 3 Reuter DRESDNER Bank, the biggest successful bidder, bought 97,600 ounces of gold at Tuesday's US gold auction at prices ranging between US$lBO.Ol and $180.50 per ounce. The General Services Administration conducted the auction of 300,000 ounces of gold for the Treasury. Dresdner was awarded
      Reuter  -  219 words
    • Article
      EEC energy
      42 3 THE COMMON Market was urged to triple its spending on energy next year to make Europe more self-reliant. .The call was part of a 14.7 billion European unit of account budget for 1979 presented by EEC Budget Commissioner Christopher Tugendhat.
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    • Article
      Borrow petro$ directly, EEC urged
      274 3 FORMER British Premier Edward Heath yesterday suggested that the European Economic Community (EEC) borrow funds direct from the Organisation of Petroleum Exporting Countries (Opec) to Invest within the EEC and elsewhere. Speaking to a management seminar In Hongkong, he said Opec currently has about US$4O
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      187 3 =ANDREA= NEWMAN in Penguins a m. Lmk >. nr grim the tense momentum of ft thrilfer as Another Bouquet is Andrea Newman's sequel to A Bouquet of Barbed Wire. Prut deed, but Gavin and Manson cannot let her go. Hftr prssence Singers in the relationships of the people vtfto know
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER
      443 4 OPENING quotations in the Singapore rubber market were marked up 2.50 cents yesterday following higher London advices, afterhours firmness and upcountry trade buying with intermittent profit-taking well a honrhprl Washington reports that the Senate Armed Services Committee approved a stockpile sales and purchases bill on commodities
      443 words
    • Article
      Closing prices
      29 4 Rubber: May 26 Singapore: June 218.2S centa (up three centa) Malaysia: June 225.25 (up four cents) Tin: M51.658H (up $13H) Official offering: 270 tonnes (up S3 tonnes)
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    • Article
      RAS PRICES
      324 4 R.A S. Prices In cents per kilo yesterday: Noon Close (per kilo) (per kilo) Int. 1 R.S.S prompt f.o.b. Buyers Sellers Buyers Sellers 217.00 218.00N 217.25 218.25N Int. 1 R.S.S. June 218 00 218.50 218.25 218.50 Int. 1 R.S.S. July 218.50 219.00 219.00 219.2S Int. 2 R.S.S. 210
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    • Article
      SSR AND SMR
      97 4 NOON SSR and SMR prices yesterday: June July RAS (Current Mth) (Forward Mth) Buyer* Seller* Buyer* Seller* (cents p erkg) (cent* >erk«> SSR 20 (1 -ton pallet) 205 00 207 OON 206.00 208 OON SSR 50 (1-ton pallet) 203 00 205 OON 204.00 208 OON M.R.E.L.B. SMRSCV
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    • Article
      Hongkong comes
      204 4 THE sugar futures market closed generally firmer In quiet trading yesterday, with 13 lots traded against four on Thursday. The Hongkong dally spot sugar price rose U50.05 to 7.35 cents. Dealers said recent Indian white sugar sales could possibly be destined for China, but they remained sceptical as
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    • Article
      Rice
      198 4 BANGKOK rice prices quoted as follows yesterday: (US dollars per tonne FOB basis Bangkok): White Rice: 100 pet Ist class 442. 100 pet 2nd class 427. 100 pet 3rd class 422. 5 pet 413. 10 pet 400, 15 pet 3»2, 20 pet 387 25 pet 377. 35 pet unq.
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    • Article
      Produce exchange
      393 4 ACTIVITY picked up on the Singapore produce market yesterday In the face of overseas buying Interest. Only the pepper market saw quiet trading. Prices, however, remained steady. Despite this substantial supply, prices have firmed over the week. Demand Is still stronger than supply, traders said. They expect this
      393 words
    • Article
      Coffee
      206 4 ROBUSTA futures yesterday ended the morning opening call slightly easier €27 to £11 per tonne lower from Thursday's afternoon close. 293 lots were traded. The biggest and smallest falls occurred In distant months, but spot May lost 124 at £1,831 while July eased £14 at £1,658. Arabica futures opened
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    • Article
      Cocoa
      130 4 TERMINAL cocoa on Thursday afternoon, was barely maintained in the afternoon partly due to steadiness of sterling, closing mostly £4.50 up from Wednesday to £5.50 down. Spot May closed 120 higher despite the posting of one further Ivory Coast retender, taking the retenders total to 59. Originals were unchanged
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    • Article
      Sugar
      168 4 FUTURES closed £0.35 to £0.10 per tonne lower on Thursday afternoon. Turnover totalled 2,215 lots including nine options. Dealers said prices eased back when lack of followthrough buying support to the recent advance prompted local selling and profit-taking. The downward movement touched off some stoploss orders which saw values
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    • Article
      Palm oil
      84 4 C I F North European ports, in US dollars per ton unless otherwise stated LONDON: Thursday Previous Malaysia 5* f fa bulk per tonne Aug 595 sir unq Sumatra 5% ffa bulk May 980 pd 970 pd June 980 sir 970 sir July MS sir 935 sir August
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    • Article
      Straits tin
      285 4 THE STRAITS tin price In Penang yesterday rose MSI3-5/8 to $1,658-5/8 per plcul on an official offering up 63 tonnes to 270 tonnes. Values rose on firmer sentiment, following the encouraging overnight London market and strong buying support from the US and Japan as well as local dealers.
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    • Article
      Zinc
      93 4 ZINC yesterday morning closed with all round gains of £2 per tonne in London. Zinc found early shortcovering support up to f 335 on the pre-market following the trend In copper, but subsequent profit-taking took it back to £329 by the close. Expectations of a moderate rise In stocks
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    • Article
      Lead
      84 4 LEAD yesterday morning finished with gains of £5.5 for cash and £5 for three months in London. The strength in copper prompted short-covering and fresh buying up to £316 per tonne for three months on an otherwise featureless market, dealers said. Turnover of 3,000 tonnes was boosted by carries.
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    • Article
      Soybean
      84 4 SOYBEAN futures In Chicago burst upwards in late trading on Thursday, with nearby contracts advancing their US3O-cent limits and new crop months reaching new season highs. Prices were off top levels at the close but reflected gains of 28* to 16* cents a bushel. Soybean product futures hit new
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    • Article
      Wheat
      88 4 WHEAT futures followed the advances In soybean and corn futures in Chicago to close at or Just below the day's best levels and within three cents of contract highs on Thursday. Final gains ranged from five to three cents a bushel. Hedge selling and liqui- dation brought an easier
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    • Article
      Active turnover seen in rubber
      359 4 LEVELS rose sharply during the shortened trading week to probe close to last year's high, as nearly six cents were added to values before profit-taking pared the gain. Conditions were volatile and turnover fairly active throughout the week, Holiday, Cutler. Bath and Co said in
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    • Article
      Copper
      295 4 COPPER wlrebars In London finished a shortened trading day, showing gains of £28.5 for cash and £27.5 for three months yesterday morning. Three months traded up to an 11-month high of £793 per tonne on the premarket. The implications of Kennecott's changed pricing system had little effect, dealers said.
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    • Article
      Silver
      208 4 SILVER rose three pence all round in London yesterday morning. Values were marked up at the start of the pre-market, reflecting overnight gains in New York, dealers said. Profit-taking soon caused prices to slip, but the market then held generally steady aided by the higher gold fix and the
      208 words
    • Article
      Gold
      502 4 THE KILOBAR In Singapore opened at 5513.617 yesterday, which was the high of the day. After opening, the market eased off to a low of $13,517. The market, however, recovered slowly to the $13,570 level and closed at $13,555. In the London market, the metal opened at US$lBO.2O/50 and
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    • MONEY AND EXCHANGE$
      • Article
        Singapore market
        573 4 THE FOREIGN exchange market yesterday saw thin trading conditions in most counters except the yen. The US dollar opened at 225.80/90 against the yen in the morning. But moderate speculative trading brought the dollar down to its afternoon level of 225.30/40. Before London opening, however, profit-taking operations and
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      • Article
        Asian $ and CD rates
        215 4 Asian and CD rates ASIAN currency deposit interbank raws as at close on May 26 I S Dollar* (Spot) Offer Bid "days .711/16 79/16 1 mth 8 1/4 8 1/8 2 mths .7 15/16 713/16 3 mths 8 1/8 8 6 mths .8 9/16 8 7/16 9 mths 8 5/8
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      • Article
        Discount
        47 4 RANGE OF prices offered by dls count houses on May 26 Overnight 3*4* Call deposit 314% Closing Buying Selling 3-Month Treasury bills 31/4 31/8 3-Month Bank bills 4 13/16 411/16 3-Month CD 4 13/16 4 11/16 6-Month CD 5 1/16 415/16 Source: National Discount Co. Ltd
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      • Article
        MLR
        21 4 THE average rate at which Singapore banks are currently prepared to lend to their best customers is 7 per cent.
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      • Article
        Zurich
        71 4 ZURICH exchanges closing quotes on May 25 U8 1 9550 9500 Stf 3 54*7 SSIS Can 1 7511 7532 Dink 92 2170 3295 Ofl 86 1803 2814 Ffr 41 9258 9742 Bfr 3 8612 8969 Dfcr 34.1643 2106 Nkr 35 7273 7521 Skr 41 7423 7615 Ut 0 2243
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      • Article
        Australia/NZ
        60 4 AUSTRALIA/NZ exchange quoted on May 28. AUSTRALIA US dollar 1 1298/ 1.12 a Sterling 0 8281/ 0.8190 Ninety-day air mall buying raws: Sterling 0 8451 US dollars 1.1807 Ninety-day forward buying rate*: Sterling 0.8278 US dollar* 1 1253 NEW ZEALAND: Sterling 0 5571/ 0.5540 US dollar 1.0122/ 1 0022
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      • Article
        London
        131 4 CURRENCY trading yesterday was subdued ahead of the long holiday weekend, with business mainly confined to squaring off positions. Sterling dipped in early trading below the US$l.Bl level from $1.8132/37 overnight, possibly reflecting nervousness by some operators over news that Britain's ruling Labour Party and the Liberals are to
        131 words
      • Article
        New York
        239 4 THE DOLLAR closed weaker against major currencies in fairly active trading on Thursday. News that Continental Illinois Bank raised its prime rate to 8-1/2 per cent from 8-1/4 came too late to affect trading. Trading was thin, reflecting the holiday closure in Germany and upcoming holidays in the
        239 words
      • Article
        Tokyo
        151 4 THE US dollar for overnight delivery closed at 226.45 yen yesterday, up from a 225.90 opening, but down from 227.35 at Thursday's close. Dealers said trading was heavy, with volume US$6lB million. The dollar recovered moderately In active late trading, after an initial fall following the yen's strength abroad
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      • Article
        Hongkong
        121 4 THE US dollar yesterday closed firm in active trading with Interest shifting from the dollar/yen to the dollar/mark during the day. The dollar closed little changed at 2.1220/30 marks from its 2.1220 New York close and rose to 226.00/10 yen from Its New York close of about 225.30'. Sterling
        121 words
      • Article
        Euro $ rates
        106 4 Euro rates EURODOLLAR deposit rates yesterday hardened on active book squaring ahead of the long weekends in Britain and the US. Dealers detected a bid tendency Independent from holiday factors, possibly stemming from news that Continental Illinois raised its prime rate to 8-1/2 per cent from 8-1/4 per cent. End-month
        106 words
      • Article
        Treasury bills tender
        42 4 RESULTS of tender held on May 26 for 91-day «vi 182day bills. •1-day Wll»» WMtNa Mmynt, Jmmt n«a Offend: *35.000.000 $14,000,000 AfdWhr MB. 100.000 MI,MO,000 AJletted AcoapMdWfc $16,000,000 a 14.OM.OOC Mt.36 A MdoMlM iHilMMl 3 17JH p* 3.310% pa
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      167 4 fSjiA COLLECTINQ Oriental /Intigw u by Judith Moorhouse and Dries Blitz ca Hamlyn Group, London. t^rn,?iho,,t a t n h tlQues .H hav< L. alwayB f »«cinated collectors if e T^ evokln M th «y <»o the exotic and Inscrutable East. It Is, however, widely believed that they are too
      167 words
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  • TRANSPORT
    • Article
      Lock icon Liberian flag is not for any old tub says official
      430 5 AP A TOP Liberian official complained In London on Thursday that many people have the wrong idea about the ships that sail under the Liberian flag, and seem to think that any old tub Is good enough to qualify for
      AP  -  430 words
    • Article
      Go-slow threat by air traffic controllers
      242 5 THE HEAD of the US Air Traffic Controllers Union warned three airlines that the union may stage nationwide air traffic slowdowns unless controllers continue to get free overseas trips. Mr. John Leyden of the Air Traffic Controllers Organisation said the union is angry because
      242 words
    • Article
      Shipping ban
      85 5 ALL SHIPPING on the Rhine from Switzerland to Mannheim was halted on Thursday as the river rose to near danger level after two days of torrential rain. A spokesman at a special emergency centre set up at Karlsruhe said the Rhine had reached a level of 8.44 metres,
      85 words
    • Article, Illustration
      SHIPS IN PORT
      292 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Cherry Vllja (B. Barge) (after Ocean Supply sails) 48 Fernandoeverett (1500) 19 Neesbank (0700 after Aleksandr Seraflmovlch) 1/2 Nlkolay Semeshko (1100 29/30 Ocean Supply (B. Barge) (1000 48 Osho Maru (0600 after Bonanza) 40/41 Perils (after Straits Star) 21 West Tagaytay (0800)
      292 words
    • Article, Illustration
      Pioneer Sea-Land in a tight spot
      732 5  -  CONTAINERS NOT STANDARDISED By CHAN BONG SOO SEA-LAND, one of the world's top container operators, today finds Itself In a predicament which may prove very costly to Its future operations. It Is Ironical that Sea Land, the very company that Invented containers for sea
      732 words
    • Article
      Lock icon TRAVELLERS' WOES AT NARITA INCREASING
      737 5 AP. RADICALS are not the only headache at Tokyo's newlyopened Narlta airport. An absence of Englishlanguage signs and shortage of vehicles are now causing great Inconvenience to travellers. At the Tokyo City Air Terminal, the downtown link to the airport 60 km away, one of
      AP.  -  737 words
    • Article
      Lock icon Airbus in joint venture talks
      126 5 AP THE executive vice president of Airbus Industrie of France, John B. Cognard. Is holding talks with Japanese plane makers about forming a Joint venture. Mr. Cognard said It was part of long term effort to establish the Toulousebased firm on the Japanese market. "The
      AP  -  126 words
    • Article
      Lock icon London freight
      153 5 UPI. THE chartering spotlight continued to focus on the Atlantic where the firm rate tone looks likely to stay. Indeed, particularly high figures were conceded to June vessels working US coal and grain to Japan. The bulk-oil carrier Slboen achieved US$9.6O (5522.10) (discharge free) for a 55,000-ton Hampton
      UPI.  -  153 words
    • Article
      Lock icon THAI PORT PROJECT
      96 5 AFP. THE Thai Communications Ministry has Invited International bids for the engineering and construction of a 2.1 billion baht (8524.2 million) deepwater port at Laem Chabang on the Gulf of ThaiDeputy Communications Minister Rear Admiral Sanong Nisalak said over 70 foreign companies had already submitted Independent proposals
      AFP.  -  96 words
    • Article
      Lock icon Australia, Europe run in trouble
      48 5 Reuter. THE AUSTRALIAN to Europe Shipping Conference may soon be unable to accept cargo bookings for its regular services between Australia and UK/ Europe. This Is because industrial action by waterside unions has made it almost Impossible to fulfil an adequate, continuing service.
      Reuter.  -  48 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      711 5 ARRIVALS Barrio* Operator Number Loca. Tim Ftmi CAL CI333 0040 TPE/HKO/KUL MAS MH601 0700 KUL MAS MH882 0725 KCH SIA SQ101 KUL MAS MH621 0840 PEN MAS MH607 0845 KUL MAS MH671 0945 PEN/KUL CPA CX710 1005 HLP CAL CI814 1000 HLP RBA BI323 1025 BWN OIA
      711 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      207 5 Mathematics and Statistics in Penguins Statistics in Action: Peter Sp rent 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
      207 words
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  • Article
    America could have done worse
    442 6 SOME exporters outside the US may rest a little less easily after US Commerce Secretary Juanlta Kreps' announcement of export credit and subsidies for certain American businesses. But they would be worrying more than they should. After all, most of the governments of the world
    442 words
  • Article
    Refinancing is in vogue again
    207 6 THE latest loan of US$lOO million taken up by Malaysia from the Toronto Dominion Bank is a clear pointer that other developing nations should follow the examples of Malaysia and South Korea to arrange refinancing of their borrowings. This will improve their financial position significantly
    207 words
  • Article, Illustration
    Soon computers to wake you up in the morning
    1086 6  -  »r BRUCE RUSSELL FIRST it was the fireplace, now it is the television set, but after the electronics revolution of the 1970s the home computer looks likely to serve as the symbolic centre of the affluent family According to researchers in
    1,086 words
  • Article, Illustration
    Will our businessmen do as much?
    1039 6  -  LETTER FROM AMERICA b7 John Tan CONTRARY to what is often said about New York City, some institutions in this metropolis of seven and a half million inhabitants actually do work. Also, despite the generally held opinion that New Yorkers are cold, selfish, and
    1,039 words
  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      339 6 sinGopura FORUM HOTEL M Orehafd ImA B'pora I. Tit: mm 405/407 Havelock Road, S'pore 3. Tel: *****1 Pebble Bar Experience the unique expression of Tanla Great Sound Big Show You'll love the dynamic and versatile Tanla For memorable yester hits and today's favourites. Only happens at the Pebble Bar Dally
      339 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      58 6 OUTLOOK for Singapore from 6a.m. to noon today: Mainly fair. Report for 24 boor* prior to 7.30 p.m. on Miaj Mm the airport. Maximum Temperature 33.4* C Associated Humidity 61 Minimum Temperature 34.6° C Associated Humidity 92 Hours of Sunshine 10.7 Rainfall in Millimetres Nil Total Rainfall for the Month
      58 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      282 6 SINGAPORE 5 12.50 Opening announcements followed by Sesame Street 0 1.50 Saturday Matinee Up from the Beach, starring Cliff Robertson, Irina Demick, Marius Goring 3.25 Police Surgeon Borrowed Trouble 0 3.50 Soccer Malaysia Cup '78 Singapore vs Perlis (Repeat) 4.50 Sandiwara Kemusnahan A Malay drama 5.40 Jerilderie Park 6.30 News
      282 words
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  • Article, Illustration
    New views on feeding the world's poor
    844 7  -  Poor people may eat better if they have larger rather than smaller families. Food aid from rich countries to poor countries may be a very bad defence against starvation. Poor farmers who earn no cash may be better off than those who produce
    844 words
  • Article, Illustration
    Lock icon An investment of love, faith and admiration
    905 7  -  •y DAVID ANDERSON UPI. WHEN Israeli Prime Minister Menachem Begin recently visited the United States to mark Israel's 30th anniversary of Independence, he spent part of the time talking about bonds. The theme during meetings in New York, Chicago and Los Angeles was
    UPI.  -  905 words
  • Article, Illustration
    STRAWS IN THE WIND
    518 7 POOR Paul Newman Is go-» lng to have a very hard time keeping a low profile on his new assignment to the United Nations General Assembly's current special session on disarmament. Worse still, many officials and diplomats find It hard to take him seriously one high-ranking
    518 words
  • Article
    New SEC chairman looks back
    1020 7  -  [FORUM. ...on investment •y THOMAS MULLANEY THE active merger trend ip Wall Street during the decade of the 1970s has not elicited much public reaction from the Securities and Exchange Commission, the government's regulatory overseer for the nation's securities business, but the silence may have
    1,020 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      337 7 fßaßw*- r -58 HP ~--M. 3Bfpg. -C? 1 9 It's the toast of the town. IMPERIAL BAR TODAY of OKOH Lunch i a; t *> r •f sti —V* •N i < J sw* 3 branches for your convenience: SINGAPORE OKOH Supreme House, Penang Road. Tel *****1 OKOH OF GINZA
      337 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Page 7 Miscellaneous Column 1
      36 7 BriStcW:PW_Did<)enS NCfTHWG fcR rrcs. Pufccr/. geftLLN musT stvck T 0 ray o*eT ReToRKS nR &R\&touj BR ISTOU) »N Tue CMRIf? o \N TMRT CASe DOOBLC. doughnuts ,Tu>o rnPCftQxwis suj*ss Rou pmd b s>L»ce or CH&ESe£R*€. V
      36 words
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  • INTERNATIONAL STOCKS MARKETS
    • Article
      Declines as end of month approaches
      574 8 TOKYO WITH the end of the month approaching, prices declined, led by quality Issues, due to small-lot liquidation by smaller brokerage houses yesterday. With Investors Ignoring good business news reported yesterday, heavy electrlcals edged down with volume contracting. Other large-capital Issues and cyclical issues
      574 words
    • Article
      Hongkong
      384 8 LOCAL stockbrokers had a quiet day yesterday with Interest dwindling and the market undecided as to the short-term trend. A letter written to a local newspaper by a group of minority shareholders In City and Urban concerning the Umbo the company has found Itself In caused a stir but
      384 words
    • Article
      Sydney
      422 8 THE market closed with speculative stocks showing big gains yesterday, a strong mining sector and some rises for selected industrials, dealers said. Central Pacific rose $1.50 to $8.80 while Southern Pacific rose twenty cents to $3.05, and other exploration six to 40 cents. Northern Mining rose 20 to $1.70
      422 words
    • Article
      Manila
      125 8 MINING and oils continued rising yesterday, reflecting Increasing copper prices on an active market, but commercials eased, dealers said. Traded Issues Included gainers 30. losers 9, and 16 unchanged. Turnover doubled from Thursday's 7.1 million pesos to 15.5 million. MAY Pesos Acoje Mining .01 unch Atlas Con. A Atlas
      125 words
    • Article
      Bangkok
      145 8 MAY Bahts Asia Fibre 255 -3 Bangkok Bank 373 -2 Bangkok Invest. 358 -4 Bangkok-Metro-politan Bank Bata 715 -5 Berll tucker 480 -14 CarpetIntni 348 -3 CharoongThal Wire 294 -5 Dumex DusltThant 328 +4 Faber Merlin First Trust 410 18 Oenera Finance Indo-Thal Industrial Finance Corp 2485 unch J
      145 words
    • Article
      MOSTLY MIXED
      539 8 FA ROPEAS MARKETS EUROPEAN bourses closed mostly mixed on Thursday. In AMSTERDAM, prices closed mixed, with the transport sector making the main Suns, led by KLM which gained 50 guilders following heavy U8 demand, dealers said. In Internationals. Akso, Unilever and Royal Dutch all gained 0.10, but Hoogovens
      539 words
    • Article
      Amsterdam
      206 8 MAY 25 FU ABN 354 00 unch Ahold 105 70 -08 Akro 28 80 +0.1 AMEV 85.20 unch Am fas 113.50 -0.2 Amrot Bank 76.80 +0.3 Bergoss 47.00 1 Berk ***** +0.2 BoU 72.00 +0.8 BorsumlJ 180 00 -2 Burhtnann 68 OOxd -3 2 Byenkorf 89.70 +0.2 Calve Delft
      206 words
    • Article
      Paris
      267 8 MAY 2S Frs CORBEILLE Alr-Llqulde 308 -0 9 B 8 N Otrvili Oanone 525 -8 CSF (ThomsonCaf) 246.50 •1 Cle Francalse des Petroles 126 •1.3 Compagnle Ftnanclere Compagnle Generate 3M 80 +2 3 Credit Foncler De France 350 +10 Haehette (Llbralrle) 188 90 +0.9 Machines Bull 39 30 1.1
      267 words
    • Article
      Milan
      100 8 MAY It Lire Anic 101 -4 Assoc Gen ***** -180 Bastogl 482 -8 Centrale 3730 -50 Fiat 1883 -13 Flnslder 9150 -3 5 Oen Immob 79 -3.5 IF! Pii 2190 -U Italcementl ***** -115 I taigas 895 -S Ilalslder 198 -4 25 Magnet! M Pf 473 >10 Marelll Ere
      100 words
    • Article
      Brussels
      94 8 MAY a Fr» 47FORWARD MARKET Acec 277 ♦7 Arbed 2310 unch Astur 900 +20 Brascan 481 -11 Bru-Lamb 1500 -5 Can pec 562 •4 Cock 416 -12 De Beers 166 -1 Ebes 2215 -100 Electrobel 4300 30 Ob-Xnno-Bm 1990 ♦20 Oev 1308 unch Hobok 2180 unch Petro 3886 +5
      94 words
    • Article
      Zurich
      179 8 Actions Sulsaes 288W unch Alusutsse Br 122S -45 Alusulsse Reg. 510 -t Brown Boverl Br 1710 *10 Clba Oelgy Br 1130 -3 Clba Oelgy PC MO -5 Clba Gelgy Reg 807 -8 Credit Suisse Br 2130 unch Credit Suisse Reg 406 -I Elektrowatt Br. 1850B George Fischer Br 090
      179 words
    • Article
      Jo'burg
      398 8 Gold shares turned mixed towards the close In stagnant trading with operators heslstant in the absence of fresh market factors on Thursday. Mining financial* were mixed In sympathy with producers. De Beers eased three cents to 605 on a general lack of interest. dealers said. Other metals and minerals
      398 words
    • Article
      Shares to remain strong down under
      540 8 SHARE brokers in Sydney and Melbourne say they believe the recent strength In Australian share markets will continue at least to the end of the year with the occasional reaction interrupting the rise. The Australian economic outlook is now better than it has been
      540 words
    • Article
      Prices move lower
      1146 8 NEW YORK FOR THE third session In a row. prices moved lower on Thursday In trading that was active but less so than the previous session. Analysts said Investors are no longer willing to look beyond the near term problems to a less Inflationary period later. Adding
      1,146 words
    • Article
      Toronto
      355 8 SHARE prices closed lower In active trading on Thursday. The composite Index was off more than 3W points and losses led gains 245 to 221. Real estate index, up nearly 51 points, posted its largest advance since March 31. Block Bros, subject of a takeover bid at Cs9 a
      355 words
    • Article
      Selected indices
      53 8 FINANCIAL TIMES INDUSTRIALS Thursday 477 5 Wednesday 111% to 111*. H.K. HANG SENG Wednesday 474 0 Week Ago 480.9 DOW JONES AVERAGE industrials Thursday 835.41 SYDNEY INDUSTRIALS Friday 428.52 Wednesday 837 92 Week Ago 850.95 LONDON DOLLAR PREMIUM Thursday 110 to 110* ALL ORDINARIES Friday 499.03 Thursday 495.65
      53 words
    • Article
      Lock icon Merrill switch
      86 8 Reuter. MERRILL Lynch, Pierce, Fenner and Smith Inc and Bache Halsey Stuart Shields Inc said they have switched their primary market designations in duallytraded options from the Chicago Board Options Exchange to the Americar Stock Exchange. Both firms cited problem} in order processing during e heavy volume period
      Reuter.  -  86 words
    • Article
      CHICAGO BOARD OPTIONS
      1492 8 May 25 CHICAGO Board Options Exchange volume eased to 121,315 contracts on Thursday from Wednesday's 145,886. OPTION JLY OCT JAN 8TOCK Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel AUR AtlR AtlR Avon Avoo-P Avon Avon-P Avon Avon-P Avon Avon-P Bank Am Bank Am Bank Am
      1,492 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      126 8 For a Successful BANKING Career I LIT PTA tRA MA SCR I NEI study with. W)lsey 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
      126 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Bank of Nova Scotia raises dividend
      160 9 Reuter. THE BANK of Nova Scotia said It is raising its quarterly dividend by one cent a share to 24 cents, payable on July 28 to holders on record as at June 30. The bank reported share earnings for its first half of 0i1.67
      Reuter.  -  160 words
    • Article
      Lock icon Pet Inc latest topic in takeover rumours
      650 9 P < N.AMERICAN NYT. IN A period of huge takeovers that has seen such giants as Babcock and Wilcox and Otis Elevator besieged and eventually aborbed, it may come as no surprise that Pet Inc, with more than US$l billion In sales. Is
      NYT.  -  650 words
    • Article
      Solar soars under strong speculative pressure
      293 9 T.O SOME veterans of speculative markets, the story has an ominous ring. There was Solar Industries, essentially a start-up situation, leading the list of active Issues in the over-the-counter market. It was last Tuesday -and the Miami Beach Company, which describes itself as a
      293 words
    • Article
      Lock icon Peugeot venture with Korean firm
      131 9 AFP PARIS: Authorities in Seoul approved the cooperation agreement signed In April by the Kia industrial company, of South Kc[j-ea, and the French motor firm Peugeot. Under the agreement, Kia will import half-assem-bled Peugeot 604 models and then cars in kit form up to a
      AFP  -  131 words
    • Article
      Associated Engineering
      80 9 ASSOCIATED Engineering Ltd said Its second-half profit could show someImprovement over the £15 million pre-tax just reported for the first six months ended March 31. However, many Industries served by the group show little or no prospect for an Increase In demand over coming months. The company said
      80 words
    • Article
      Lock icon EASTERN PRODUCE
      68 9 Reuter LONDON: Eastern Produce (Holdings) Ltd has announced a pre-tax profit of £7.16 million (previous £2.58 million). Turnover was £18.24 million, (£14.75 million). Earnings per share basic 37.3p (12.7p) fully diluted 33.4p (12.2p). Final dividend: 3.03p (nil) making 4.35p (nil). Pre-tax profit includes associated companies £3.25 million (£1.57
      Reuter  -  68 words
    • Article
      Lock icon Approval for Texaco merger
      114 9 Reuter TEXACO Canada Ltd said shareholders at the annual meeting approved the merger of Texaco Exploration Canada Ltd and Texaco Inc. into a new company to be called Texaco Canada Inc. It said 99.9 per cent of the common and 94.9 per cent of the preferred
      Reuter  -  114 words
    • Article
      Bell Canada
      54 9 BELL Canada has declared an initial dividend of 47.8 cents on its C 51.96 preferred shares. The dividend, accrued from May 4, is payable on August 1 for shareholders on record June 30. The company also declared the regular quarterly on common shares of $1.05, payable on July
      54 words
    • Article
      Lock icon General Foods blames coffee for poor performance
      221 9 Reuter. GENERAL Foods Corp said its lower earnings for the year ended April 1 reflect a sharp decline in sales volume and pressure on profit margins from its grocery- coffee business worldwide. The company had earlier reported fiscal 1978 earnings of U*****.5 million,
      Reuter.  -  221 words
    • Article
      HYDRO- QUEBEC
      78 9 HYDRO QUEBEC said its financial needs for 1978 have already been satisfied but it will continue borrowing outside Canada whenever possible, given the state of the markets. Vice-president of finance E.A. Lemieux, answering questions after an address by company president Robert Boyd before the Montreal Society of Financial
      78 words
    • Article
      Lock icon Marks will spend £200m to expand
      336 9 EUROPEAN tJ Reuter MARKS and Spencer will spend about £200 million over the next four years on expanding selling space and improving existing stores, its chairman Marcus Sieff said in the company's annual report. The development plans envisage an Increase in sales area of
      Reuter  -  336 words
    • Article
      Lock icon Rio Tinto first half results may drop
      298 9 Reuter. RIO TINTO Zinc Corp chairman Sir Mark Turner told the company's annual meeting that results for the first six months of 1978 will not be as good as those for the first half of 1977. Last year, the company produced a net
      Reuter.  -  298 words
    • Article
      Debenhams' low return
      280 9 ALTHOUGH pre-tax profit of Debenhams Improved from £20.45 million to £28.26 million in the year to Jan 28. 1978, this Included other Items of £11.56 million compared with £2.13 million and the directors do not consider results satisfactory in relation to the capital employed In the business
      280 words
    • Article
      Lock icon Alexander Howden to raise funds
      126 9 Reuter INSURANCE brokers Alexander Howden Group Ltd said It plans a one-for-four rights Issue at 145p per share to raise £26 minion. The 18.1 million shares to be issued will not rank for the interim dividend expected to be paid in November, the company said.
      Reuter  -  126 words
    • Article
      Lock icon International Computers
      91 9 Reuter. ICL LTD reports a pre-tax profit of £15.8 million for six months ended March 31, compared with £13 million previously. Sales: £232.1 million (£187.8 million). Earnings per share: 26.97p (23.08p). Interim dividend: 2.86p (2.6p). Pre-tax profit Is after Interest. Trading profit £20.9 million (£10.7 million), after depreciation
      Reuter.  -  91 words
    • Article
      Lock icon Hawker Siddeley
      68 9 Reuter HAWKER Slddeley Ltd said It will proceed with its previously announced offer to pay £22.9 million for a 51.9 per cent share stake in Carlton Industries Ltd a subsidiary of London Merchant Securities Ltd. The decision to go ahead with the deal follows agreement on a Carlton
      Reuter  -  68 words
    • Article
      Lock icon Nippon Oil expects lower profit and sales
      224 9 Reuter AFP NIPPON OH Co Ltd said It expects after-tax profits and sales in the current year ending March 31 to decline substantially from the previous year's records of 14.66 billion and 1.78 trillion yen, respectively. It attributed the expected decline to an
      Reuter; AFP  -  224 words
    • Article
      Walkout at Chrysler Australia
      86 9 THE 1,800 workers at Chrysler Australia's Tonsley Park car making plant have walked off the Job to protest against an Increased workload caused by recent dismissals, a spokesman said. They propose to stay out until Monday and have begun picketing the plant, one of Chrysler's three
      86 words
    • Article
      Lock icon Kanematsu
      51 9 UPI IWAO Matsuura, 56, will be named president of Kanematsu Gosho Ltd., one of Japan's largest trading companies, at a board meeting In late June a company spokesman said. Mr. Matsuura has been vice president of the firm since 1977 and a director since 1971. He succeeds Masahl Klyokawa.
      UPI  -  51 words
    • Article
      Lock icon National Bank of Hungary
      89 9 r BONDS&LOANS h 4 Reuter. THE National Bank of Hungary has signed a US$3OO million seven-year multicurrency credit agreement, its largest single borrowing on the International markets so far, Continental Illinois Ltd said as lead manager. The loan carries a per cent spread over London Interbank
      Reuter.  -  89 words
    • Article
      Lock icon ADB yen bond issue
      74 9 Reuter THE Asian Development Bank (ADB) Is expected to sign a 15 billion yen, 15-year bond Issue agreement with a Japanese underwriting syndicate early next week, securities sources said. They said the loan with an average life of 12.3 years Is expected to carry a coupon
      Reuter  -  74 words
    • Article
      Lock icon DENMARK AND N.Z.
      47 9 Reuter THE governments of Denmark and New Zealand plan to borrow 40 and 50 billion Bi, respectively, through uance of yen-denoml-nated bonds on the Japanese capital market in August, securities sources said. They will be the third yen bond Issues for both governments. Reuter.
      Reuter  -  47 words
    • Article
      Siam Cement
      31 9 HONGKONG: Slam Cement of Thailand is raising a US$5O million eight-year syndicated loan with a 1.125 per cent margin over London Interbank offered rates, co-lead manager Chemical Bank said.
      31 words
    • Article
      Lock icon Jardines to bid for the rest of Toft shares
      508 9 r ASIAN Reuter. JARDINE Matheson Australia Ltd said It will offer 65 cents each for the shares In the Bundabergbased sugar cane harvesting machinery maker. Toft Bros Industries Ltd, not already held by Jardlne Matheson and Co Ltd. Jardlne Matheson and
      Reuter.  -  508 words
    • Article
      Lock icon Stalemate in talks to stop Sasebo fall
      353 9 Reuter, TALKS on preventing the collapse of Sasebo Heavy Industries Ltd are currently at a stalemate, with major shareholders still refusing to provide guarantees for urgently-needed bank loans. A spokesman said the company's management shareholders and creditors agreed last month that It must
      Reuter,  -  353 words
    • Article
      Lock icon Niger-Japan joint uranium project
      134 9 UPI. INTERNATIONAL Resource Ltd., a Joint-venture firm between the Niger government and a Japanese oil company, plans commercial production of uranium ore In the African country starting In 1983, Industry sources said. The company, Inaugurated In 1976, has found 15,000 tons of uranium ore In Niger's
      UPI.  -  134 words
    • Article
      Lock icon Unchanged year for Hitachi
      143 9 Reuter HITACHI Ltd said It expects after-tax profit and sales In the current year ending March 31 to be little changed from the previous year's 31.44 billion and 1.39 trillion yen, respectively. It said it expects lower profits on exports due to the yen's appreciation and
      Reuter  -  143 words
    • Article
      Toshiba
      53 9 THE Tokyo Shlbaura Electric Company (Toshiba) said it has won a 22 billion yen order from New South Wales Electricity Commission of Australia for two 660,000 kilowatt steam turbine generators. The equipment will be delivered by October, 1084, for installation at the Eraring power station on the West coast
      53 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      226 9 > ft?// 1h w< i •> M I N Y/ ••Jr r $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
      226 words
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  • DEALS DONE ON THE SES AND KLSE
    • Article
      In Singapore
      1643 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 Ttme Settlement Contracts are quoted after the word "sett Big Board deal
      1,643 words
    • Article
      Government bonds
      117 10 4 3/4% 16/9/66 (250,000) (100.478 100.508) 5% IV4/B1 (250,000) (100.688 100.758) S% T F 1/6/63 (250,000) (100.458 100 558) 8 3/4% T P H/l/81-84 250,000) (102.908) 7% IV4/86 (250,000) (100.908 101.058) 7 1/4% 16/4/66 (250,000) (100.70B) 7 1/4% 16/16/66 (250,000) (100.70B) 7 1/4% 1/6/S7 (250,000) (100.70B) 6 V
      117 words
    • Article
      Stock options
      167 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) (0.588 0.665): (Sept $1.70) (0.658 0.758): C and C (June $2.20)
      167 words
  • Article
    SHARE INFORMATION SERVICE
    2503 10 1978 High Low Company Last Sale +OCGr's Div Div C'rr Gr's Y'ld Net P/E Vol COOO) Day High Low SECTION ONE INDUSTRIALS 189 214 166 225' 83 212 235 198 406 428 132 123* 112 195* 80* 162 173* 144 256 394 Acma Alcom Allied Choc Bata
    2,503 words
  • Article
    In Kuala Lumpur
    1874 10 BID and offer price* 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* Amii (1.908) Ajinamata (2.438 3.508) Aleam (2 208 2 218) (S)
    1,874 words
  • Article, Illustration
    Generally firmer
    710 10 STOCKS generally flimd across the board in active trading at the opening Ml on the Stock Exchange at Singapore yesterday. Volume, however, slackened during the day but built up again towards the cloee in a repeat of the trading pattern this week. The more hectic activity at the
    710 words
  • Article
    KLSE trading irregular
    583 10 SELLING pressure forced prices to close mixed to slightly easier at the Kuala Lumpur Stock Exchange yesterday. Trading was Irregular with prices generally fluctuating between fairly wide margins. The "opening session saw selected counters marked marginally higher on interest brought over from the previous day. The early
    583 words
  • Article
    Unit trusts
    123 10 SINGAFOU UNIT T*U8T D4COMZ BON D UNIT (WH0HI prm iktVirn pr taw) The Commerce The Saving Fund 186 l.OTad INCOMB BOND 1 20 1.27 IM 1.0 S pore Prof rund 8 8'pore Invest Fund 103 jMuiwippnuroiro i 2 r tmBt yP< rtr S-M 2.71)A 1-21 1.99 SecondBumiouu* im
    123 words
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  • COMPANY NEWS
    • Article, Illustration
      COM prospects less dismal than before
      634 11  -  ■y SUSAN THAM AFTER two consecutive years of decline, Chemical Company of Malaysia (CCM) has now taken a small step onto the growth path in the first half of the current financial year. Aided by a moderate Increase In sales and in spite of
      634 words
    • Article
      H & C defends its plantations empire
      1357 11  - H C defends its plantations empire Br TOH THIAN SER THE bid by Harrisons and Crosfield for shares of Harrisons Malaysian Estates currently held by minority shareholders Is the biggest deal seen in local markets since the takeover of London Tin by Pernas. While the offer of one Harrisons share
      1,357 words
    • Article
      APPROVAL FOR GENERAL LUMBER
      124 11 GENERAL Lumber (Holdings) has obtained approval from the Foreign Investment Committee for the acquisition of the fixed assets and land of Federated Kilning and Exporting (FKE). FKE Is engaged In the export of sawn logs, kiln drying and manufacture of mouldings, and also operates a chemical
      124 words
    • Article
      Malakoff profitability
      80 11 MALAKOFF Berhad anticipates that its one-for-three scrip issue will have no adverse effect on its profitability. The company was replying to a KLSE query. It added that it did not expect any change in dividend rate for 1978 provided profitability is maintained at 1977 levels. The new shares,
      80 words
    • Article
      Bousteadco
      73 11 BOUSTEADCO has announced that the book closing date for Its rights issue will be from 5.00 pm on June 13 to June 15, both dates inclusive. Earlier, the date was announced as being from 5.00 pm from June 12. The last time and date for acceptance, payment and renunciation
      73 words
    • Article
      Tan Chong
      53 11 TAN Chong Motor Holdings has Informed the Kuala Lumpur Stock Exchange that the Capital Issues Committee has approved its proposed one-for-three issue. The issue of nine million shares of $1 each will involve the capitalisation of $2.3 million from its share premium account and $6.7 million from its
      53 words
    • Article
      DIVIDENDS ANNOUNCED
      757 11 Current Ex Book* Date Total fcrTotal for payment Date cloee payable the yearpreviowa year Intraco 12%% May 3 May 10 May 27 12%% 10% Dunkm Induatriea 21%% Apr 18 Apr 28 May 29 26.5(a) 22.9(a) Hiafc4Lew 25% ADr 19 Anr 29 Mav 31 MMfc UK Kali m 13%
      757 words
    • Article
      SCRIP ISSUES
      182 11 Company Particulars Ex Date Books Cloae United Plaatetku Mala TuChaai OMtEutanlifc Malayu Floor SfeitttlMhc UMHN 8M(OM Plyweod Bonus Issue of 1 for 10 Bonus Issue of 1 for 3 Bonus Issue of 1 for 3 Rights Issue of 2 for T <a $1.29 per share Bonus Issue of
      182 words
    • Article, Illustration
      Australian tin imports optimise DKH output
      768 11 DATUK Keramat Holdings' impressive performance for the year ended Jan 31, 1978 was largely supported by its increased use of foreign tin concentrates. The significant 30.2 per cent Improvement in group pre-tax profits to $21.54 million owes much, apparently, to DKH's recent three-year tin
      768 words
    • Article
      COMPANY MEETINGS
      797 11 Apollo Enterprise* Ltd': AOM to be held at conference room of Apollo Hotel, 18th Floor, Havelock/ Outram Roads on May 27. Ben and Company Ltd: AOM to be held at the Conference Room, 45, Spottiswoode Park Road, Singapore at 9.00 a.m. on May 29. King's Hotel Ltd: AOM
      797 words
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      Page 11 Advertisements Column 1
      135 11 Don't let the language barrier stop you from wider ft lO? contacts m I 1 0 e W <V Y .> *%a^ c °\> I v a, V 3\ e 2^ P°ae^° \e 3 v J •< '/;>••?#> 5 YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at home, while
      135 words
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  • Article
    Lock icon Spend more, Keidanren tells public sector
    349 12 Reuter. THE JAPANESE Federation of Economic Organisations (Keidanren) has called for increased private sector capital spending to stabilise the domestic economy and reduce the external payments surplus. In a resolution adopted at its general meeting, it said a shift of emphasis from public sector
    Reuter.  -  349 words
  • Article, Illustration
    Lock icon Call for credit, tax subsidies
    868 12 PRIORITY FOR FIRST-TIMERS AP. US COMMERCE Secretary Juanlta Kreps said the Federal government should provide tax and credit subsidies to some American businesses willing to export their goods to foreign markets. She said Federal aid should be directed at small and medium-sized businesses moving Into
    AP.  -  868 words
  • Article, Illustration
    Strong grounds for top handling service
    585 12  -  •y WANG LOOK KEAH GROUND handling services are central to Singapore's objective of developing itself into a major international airfreight centre. This point was made by Senior Minister of State for Communications Ong Teng Cheong, at the official opening of Changl International Air|X>rt Services'
    585 words
  • Article
    Ganda to get $22m
    137 12 THE Oanda group of companies yesterday entered Into an agreement to receive $22.4 million in credit facilities from a consortium of five banks to develop the group's palm oil industry. The credit facilities, arranged and managed by the Malaysian International Merchant Bankers Is made up of
    137 words
  • Article
    LONDON STOCKS
    721 12 LONDON. Frl Prices were generally easier but above the day's lows, reflecting political uncertainties created by news that the Labour government's pact with the Liberal Party is to end. dealers said. Turnover was small because of end account factors and the long holiday weekend, they added. At 3
    721 words
  • Article
    QC for Cho admitted to the Bar
    231 12 TWO QUEEN'S Counsel, of England, were admitted to the Singapore Bar yesterday one as defence counsel for lawyer Khoo .Hln Hlong and the other, for Cho Jock Kim, managing director of Far Eastern Hotels Development Ltd. Mr. Donaldson Farquharson, QC, Is the senior
    231 words
  • Article
    Lock icon US banking is in fine fettle
    368 12 Reuter. US FEDERAL Reserve Board Chairman William Miller said the US banking system is In good condition although problems remain. Mr. Miller told the Senate Banking Committee the continued expansion of the economy and a more conservative approach to lending capital and liquidity by
    Reuter.  -  368 words
  • Article
    Lock icon It's solid growth for Asian states
    160 12 AFP. MOST ASIAN countries achieved solid economic growth rates last year, reports the chairman of the Hongkong and Shanghai Banking Corporation, Michael Sandberg, in his annual survey. However, he added, countries whose exports were mainly manufactured goods were affected by slow recovery rates In
    AFP.  -  160 words
  • Article
    Lock icon America must cut its high textile tariffs
    487 12 AFP, UPI. THE UNITED States should offer to cut Its high American textile tariffs, British Trade Secretary Edmund Dell said on Thursday. Speaking at the World Textile Trade Conference, held at London's Heathrow Airport, Mr. Dell said the US administration believed that a
    AFP,; UPI.  -  487 words
  • Article
    Lock icon GUILTY OF DUMPING STEEL IN AMERICA
    385 12 AP. THE US government made a final decision on Thursday that the Japanese steel industry has been illegally dumping carbon steel plate In the United States at unreasonably low prices. The decision, though a foregone conclusion, was a victory for the US steel industry
    AP.  -  385 words
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      448 12 Leader Page 6 Penguin IN PENGUINS Virginia Woolf died in 1941 and at the time of her death she had won a foremost place in English fiction. Three Guineas and Flush have now been published in Penguins and both will find a wide and passionate audience. Three Guineas magnificently argues
      448 words