The Business Times, 23 June 1978

Microfilm: NL9737
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 FRIDAY, JUNE 23, 1978 50 CENTS
    11 words
  • BRIEFLY...
    • Article
      Lock icon Carter's option
      70 1 AP WASHINGTON. Thura. President Carter Is prepared to announce in mid-July that he will act to raise oil prices through increased import fees unless Conaress showT Its wllllngnessto enact his year-old proposal for a tax on domestic oil, Senator Henry Jackson said today. Energy Secretary James Schleslnger agreed
      AP  -  70 words
    • Article
      Lock icon BP's £20m bid
      41 1 Reuter LONDON, Thurs. British Petroleum said Its BP chemicals subsidiary and Monsanto Co are discussing mi offer, worth around £20 million (SSB6 million), to acquire all Monsanto's EEC ineaa ren^le ftn( ex P an< a t )ie polystyrene
      Reuter  -  41 words
    • Article
      Lock icon American tax
      85 1 AP WASHINGTON, Thurs. The Carter Administration and the US House of Representatives Democratic Party leadership yesterday agreed on a US$l5 billion to $20 billion (8534.5bu110n to $40 billion) tax reduction for Americans next year that excludes proposals aimed at reforming the United States tax code, administration sources said.
      AP  -  85 words
    • Article
      Lock icon Oil price
      59 1 Reuter JAKARTA, Thurs. Indonesian Mining Minister Dr. Soebroto today said the country would face difficulty in selling Its oil If prices were Increased. Several oil exporting countries which favoured a price rise such as Nigeria, Libya and Algeria have now realised that they are unable to find buyers
      Reuter  -  59 words
    • Article
      Lock icon Rubber stimulant
      82 1 AP TOKYO, Thurs. China Is producing a new kind of chemical rubber tree stimulant that "raises latex output by 10 to 20 per cent" when the stimulant Is Injected Into old rubber trees, Peking's official Hslnhua News Agency reported today. Hslnhua gave no details but, In a brief
      AP  -  82 words
    • Article
      Lock icon Bumi bank in Tokyo?
      47 1 Reuter w9?Y°\ Thurs. The Japanese Finance Ministry is considering applications from Bank Bumlputra Malaysia, Amsterdam-Rotterdam Bank NV and Soclete Gene rale de Banque (Brussels) to open branch offices In Tokyo. Ministry officials saM they hare not yet glvtfa preliminary approral to the applications.
      Reuter  -  47 words
    • Article
      Container tariffs
      75 1 KUALA LUMPUR, Thurs. New tariff rates on container handling have been Included In the scale of rates, dues and charges levied by the Penang Port Commission. The amendments to include the new tariff scale, Is effective from June 15 and was gazetted here recently. The new section on
      75 words
    • Article
      Lock icon Dow Jones
      48 1 UPI NEW YORK, Thurs. Prices were higher in moderate trading of New York Stock Exchange Issues early today. The Dow Jones Industrial average was up 1.56 to 826.48 shortly before 11 a.m. Advances led declines, 556 to 446, among the 1,474 Issues crossing the tape. UPI
      UPI  -  48 words
  • Chief Price Changes
    • Article
      In Singapore yesterday
      133 1 Rises Mittmhiti 402 +36 Rivecview 190 +16 FAN 925 15 UE Sel Cocoou iU 170 280 +11 +10 Guthrie 100 +9 K L Induat riee 96 +7 500 +6 CarUkerf 476 +6 CCM 428 +6 H Royal OCBC 142 865 +6 +5 Falls Setroa 238 -7 Natlna
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    • Article, Illustration
      In Kuala Lumpur
      108 1 Rises Negri Semb 2.70 .21 F and N 5.40 .20 Carlsberg 4.98 +.18 L PeraJt 2.58 .18 FE-Lston 3.24 .12 Rlvervlew 2.00 .12 Toshiba 4.20 +.10 Inch KK 5.10 +.10 OCBC 8 90 +.10 P TextUe 0.80 .08 Yeo HS 3.12 .08 Intraco 2.45 .07 Foils NewSdah
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  • Article
    A 'landslide' on Narodny's hands
    1044 1  -  THE COCKPIT AFTERMATH •y QUEK PECK LIM THE MOSCOW Narodny Bank (MNB) Is now In control of more than a million square feet of land In Singapore as a result of action taken by the Russian stateowned bank to call in Its loans to an
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  • Article
    Lock icon Hsinhua hits at MNB
    149 1 AP CHINA'S official Hslnhua News Agency accused the Soviet Union yesterday of using a bank In Singapore to take over South-east Asian enterprises. Hslnhua said the Singapore branch of the Moscow Narodny Bank Ltd. extends credit on very severe terms and then presses for repayment, sometimes
    AP  -  149 words
  • Article
    The $800,000 for savers with Chartered
    587 1  -  •y COLIN CHEE BARELY a week after it announced a free personal accident insurance scheme for its savings account holders,, the Chartered Bank has gone a step further to attract more depositors. A massive MOO,OOO lucky draw for Its savings accounts customers was launched
    587 words
  • Article
    Lock icon Tokyo offers more cuts
    200 1 UPI Reuter JAPAN has offered the US and European Common Market further tariff cute on computer* and related equipment tn a final bkl to end the Tokyo Round of multinational trade negotiation*. Japanese government sources yesterday said the new concessions call for lowering tariffs on computers
    UPI; Reuter  -  200 words
  • Article
    Banco do Brasil branch wraps up US$30m loan
    296 1 THE Singapore branch at Banco do BraaU has oomfrsiSO a> omdiM^ad loaa for BraaU. The loaa, for the Bra si Han stata of Goias, will bo for five years and carries a spread lft per oemt •hove the Singapore laterhank offered rate.
    296 words
  • Article
    BA to bring low-fare scheme to Asia soon
    404 1  -  ®r TERESA LIM BRITISH Airways (BA) will extend Its low-fare scheme to Asia soon, according to BA's manager for Singapore, Malaysia and Indonesia, Mr. David Lowe. However, quoting BA's director for commercial operations, Mr. Lowe emphasised that Its low f&re plan Is
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  • Article
    Lock icon Jakarta's growth
    121 1 Reuter INDONESIA may stimulate its economy over the next few years to counteract a possible fall-off in external stimuli. The director-general of foreign trade, Suhadl Mangkusuwondo, told a London Chamber of Commerce meeting yesterday that his country's oil revenues may decrease In real terms over the next five
    Reuter  -  121 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      6 1 COPIES ANYTHING. FITS ON A TABLE-TOP
      6 words
    • Advertisement
      Page 1 Advertisements Column 2
      121 1 ACBC Your key to International Trai I' vour business is import/cxpoi t and the world is your market, you'll need the scrvices of a bank with the interna tional capability to handle vour business dea int>s efficiently and with a minimum ot tuss. At ACBC, we ofte' vuu a truly
      121 words
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      Page 1 Advertisements Column 3
      22 1 SHIPPING TIMES B Vi r> ItT mkmopad s. BWOIDO i, ADKKAfT WCM 1. BTKAWB IN THB WIND 7, TV AKADIQC racn M.
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    • Advertisement
      Page 1 Advertisements Column 4
      174 1 SINTAT Rent a-Car S^yor9: 23 55! 5 *****5 (Aimort) Kuala Lumpur: *****4 Pfcnang: ***** Kuantan ***** Dry Plain paper copier IS BIG SAVINGS So versatile and economical, KIP is definitely an unmistakable advantage to your business. •E*ciu«4v« cds system that has a repeating ability for tZ\ n u 'more than
      174 words
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  • TRADE AND INDUSTRY
    • Article
      Lock icon HK braces for tough textile talks with EEC
      687 2 AFP CANADA has struck a happy note for Hongkong with a policy change In 1979 arrangements for Its textile and clothing imports. But on another textile front a dark picture might emerge from the Hong-kong-European Economic Community discussions which were scheduled to
      AFP  -  687 words
    • Article
      Of cargo interests and legislation
      88 2 "NEW legislation in favour of cargo Interests In Singapore" will be the topic of a talk given by a University of Singapore senior law lecturer, Mr. James Wong, at the Mandarin Hotel meeting room No. 4 tomorrow at 2 pm. The talk will be of
      88 words
    • Article
      Certs for them
      64 2 A GRADUATION ceremony for 188 apprentices from the three Joint Oovernment Industry Training Centres will be held today at 10 a.m. at the Jurong Town Corporation Auditorium. The apprentices, from Philips, Rollel and Tata trainmen centres, will be awarded their Craftsman Certificates for successfully completing their four-year
      64 words
    • Article
      Lock icon Japanese red tape stands accused
      353 2 UPI AP THE NEW Zealand Prime Minister blamed differing views from different sections of the Japanese bureaucracy for complicating the discussions aimed at solving the trade-for-fish dispute between Wellington and Tokyo. "I think what is coming through Is that different sections of the Japanese bureaucracy
      UPI; AP  -  353 words
    • Article
      Two who didn't Miss ICSA subject prizes
      276 2 TWO SINGAPORE candidates are among the 21 prise winners selected from world-wide In last winter's examinations of the Institute of Chartered Secretaries and Administrators of United Kingdom. One, Miss Olam Kim Khoon, 25, is a laboratory technician with the Port of Singapore Authority.
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    • Article
      Lock icon PHILIPPINE OFFSHORE OIL BY EARLY 1979
      105 2 Reuter DEVELOPMENT of two Philippine offshore oilfields will start by midOctober, with oil production beginning nextFebruary, Energy Minister Oeronlmo Velasco said In Manila yesterday. The areas are South Nldo and West Nldo fields about 4 km from Palawan Island. The two fields will have
      Reuter  -  105 words
    • Article, Illustration
      Display of materials handling equipment
      357 2 TO TAKE advantage of the local market's acceptance of Australian technology, the Australian Trade Commission will hold a display of Australian materials handling equipment at Its showroom in Napier Road from July 4 to 0. Last year, Singapore imported some $188 million worth of materials
      357 words
    • Article
      GIFT FOR SITC
      65 2 A JAPANESE firm, Talsho Marine and Fire Insurance has presented a Rex-Rotary offset printing machine to the Singapore Insurance Training Centre. The machine, costing 17,500, will be used to print the centre's Information material. Talsho Marine Is the second Japanese Insurance company to present a gift to
      65 words
    • Article
      Lock icon May record output for Japanese cars
      107 2 UPI JAPAN had a record motor vehicle production for May due to brisk exports and strong domestic demand, the Japan Automobile Manufacturers Association said on Wednesday. Output was 781,885 vehicles, 14.5 per cent higher than the prevloua record for cars rose by 13.8 per
      UPI  -  107 words
    • Article
      BRIGHT FUTURE FOR COCOA IN MALAYSIA
      203 2 MALAYSIA will iMrfi as a significant producer of coco# in view of a projected iacrease la the akautSOjlM hectaree at pre••(it to about tt.OM Wrtim in ISM. The socretary-geaaral of the Agriculture Ministry, Datuk lahak Patch Akhlr, Mid this when opeaiag a four-day international
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    • Article
      Lock icon Taiwan pinches
      334 2 AFP COSTS of living for foreigners in Taiwan have Tisen sharply over the past year, according to a survey by the American Chamber of Commerce there. Based on disposable Income surveys, housing Is considered the major expense of an American household of four earning between U8919.000 and 936,000
      AFP  -  334 words
    • Article
      Lock icon HK deficit narrows
      75 2 Reuter HONQKONO'S trade deficit narrowed to a provisional HK9925 million (*****.5 million) In May from 9924 million in April and compared with a 1999 million deficit In May, 1977, the Census and Statistics Department reported. May domestic exports and re-exports rose to 94.53 billion from 94.04 billion
      Reuter  -  75 words
    • Article
      MEMO PAD
      399 2 COURSES AND TALKS May 8-Aug 17: Anst Insurance Institute Assoclateshlp Course, SITC, BITC June 5-July 29: Life Agents Certificate Course, SITC. SITC June 21-24: Sales conference, RELC, PT Richardson Merrell Indonesia June 15-July 3: Employee relations communications, Hilton, POD July 6-13: Financial aspects of personnel mngt, Hilton, POD
      399 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      124 2 mi i lfrd'&iir*!} Oh, comc with old Ktuyyim, and leave the Wise To talk; one thing is certain, that Ule flies; One thing is certain, and the Rest is Lies The Flower that once has blown for ever dies. Bois car tu dormiras sous terre des annees Loin de tes
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      205 2 CRYPTIC PUZZLE ACBOBB 1 Player of current eminence .ft, t at a penny each? (S) 9 Lemmy's warning (7) 10 Make a name by breaking a rib before the race (5) 11 Like a daytime wind? (5) 12 Released a man out Bast (5) 13 Like the moon and flvepence
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  • OVERSEAS
    • Article
      Cassava the root of EEC growers' woe
      200 3 STRONG attacks on European imports of cassava mainly from Thailand marked the second and last day of the 54th congress of wheat and other cereal producers In Brussels on Wednesday. The cereal growers urged that these Imports should be subject to higher taxes.'
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    • Article
      Investors still bullish on gold
      626 3 CONTINUED hoarding of gold was forecast yesterday by Consolidated Oold Fields, the mining finance house, in its latest survey of the world gold market. "Even optimistic forecasters suggest no more than a modest continuation of economic growth, accompanied by historically high levels of inflation," said
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    • Article
      LTV-Lykes merger gets the greenlight
      674 3 US ATTORNEY General Qrlffln Bell consented on Wednesday to the proposed acquisition of Lykes Corp by LTV Corp, a deal that would forge the companies' steelmaking subsidiaries into the third largest steel producer in the United States. LTV owns the seventhranked Jones and Laughlin Steel
      674 words
    • Article
      Lock icon The widening grain gap
      692 3 Reuter THE GAP between grain production and consumption Is widening In less developed countries, although overall world supplies are Increasing faster than population growth, Kelly Harrison, US Agriculture Department's general sales manager said. Mr. Harrison, in remarks prepared for delivery at the US wheat marketing conference
      Reuter  -  692 words
    • WORLD IN BRIEF
      • Article
        Lock icon BURDEN OF A RISING FRANC
        509 3 Agencies THE RISING Swiss franc has led to an Increasing share of Swiss exports being billed In foreign currencies. Although Swiss exports are still usually billed In francs, exporters Irregularly have to accept foreign customers' demands for payment in foreign currencies. As a result Swiss
        Agencies  -  509 words
    • Article
      Lock icon LUCKY 13 ARE NOW WORTH $190b
      152 3 UPI THE 13 Opec members were worth 155 billion Swiss francs (***** billion) at the end of 1977. Of this total, the Swiss Credit Bank said 75 billion francs was in the form of monetary reserves. This amount represented more than onequarter of all
      UPI  -  152 words
    • Article
      Bonn forced to compromise on growth steps
      629 3 THE WEBT German government, under domestic and International pressure to take steps to boost growth, is fin dine its delicate parliamentary position helghtenlng its need to compromise in important economic policy areas. The crushing defeat in this month's state elections of the government's
      629 words
    • Article
      Smaller US banks also hike prime
      198 3 NEW Orleans' First National Bank of Commerce raised Its prime lending rate to 9)4 per cent from 0 per cent, effective June 16. The bank is the second largest bank In the town with assets (at March 31) of U*****.2 million (852.15 billion). A
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      832 3 KIAW AIK HANG FINANCE COMPANY LIMITED (Incorporated in Singapore) BALANCE SHEET AS AT DECEMBER 31, 1977 (Currency Singapore dollars) SHARE CAPITAL Authorised: 50,000 shares of SIIOO each Issued and fully paid: 5,003 shares of ***** each STATUTORY RESERVE FUND RETAINED PROFITB CURRENT LIABILITIES Fixed deposits Savings deposits Interest payable on
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER
      478 4 OPENING prices in the Singapore rubber market yesterday were marked up slightly following higher London advices and advanced further on shortcovering and speculative buying. Profit-taking, however, emerged later to pare the nse towards the morning's close. The morning session closed slightly lower, with July RSS One
      478 words
    • Article
      RAS PRICES
      298 4 R.A.S price* in cenu per kilo yesterday: Noon (per kllA) Cloee (per kilo) Int. 1 R.8.S. prompt f.o.b. Int. 1 R.S.8. July Int. 1 R.8.8. August Int. 2 R.8.8. UK/Oont. Int. 3 R.8.8. UK/Cont. Int. 4 R.8.8. UK/Cont. Int. 5 R.8.8. UK/Cont. Buyers 234.SO 235.25 234.79 224.50 223.50
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    • Article
      SSR AND SMR
      90 4 NOON 88R and SMR price* yesterday: Mr Am HAS (On D|t«M mot M tl>) Saltan BSUT inlMU) lU parks) TcTu f k«) 88R20 (1-ton Pallet) 216.90 218.SON 217.90 219.SON 8SR50 M H K IP (1-ton Pallet) 214.90 216.SON 219.90 21T.90N SMR5CV (1-ton Pallet) 242.00 244.00N 242.90 244.SON
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    • Article
      Palm oil
      85 4 C.I.F. North European port*, In U8 dollars per ton ui LONDON: Wihnlw lUess otherwise r Piwl— Malaysian 5* f fa bulk per tonne Aug Sumatra 5* (fa bulk June Ji» August September October November Nigeria 5* (fa bulk stg ROTTERDAM: Sumatra Mas 5 July Zaire (Belg francs per
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    • Article
      Closing prices
      31 4 Rubber: June 22 Singapore: July 234.75 cents (down one cent) Malaysia: July 241.59 cento (up one cent) Tin: MSI ,725 (down |7») Official offering: 1M tonne* (down 50 tonnee).
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    • Article
      Rice
      228 4 PRICES of all grades of white rice In Bangkok fell by US$5 per tonne yesterday. Broken rice, loonzaln and parboiled rice remained unchanged. The Thai government, this week, has authorised traders to export another 50,000 tonnes following an earlier authorisation of 100,000 tonnes. (US dollars per tonne FOB basis
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    • Article
      Duty rates
      72 4 THE MALAYSIAN Minister of Finance has fixed these rates for the period from June 22 until further notice: Rubber 229 cents per kilo. o. Copra: M 8975.55 a ton Palai Kernel: M 8239.00 a ton The rates of dutes payable are: Rubber 47% cents per kilo (research cess
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    • Article
      Produce exchange
      328 4 COFFEE prices were traded lower on the Singapore produce market yesterday. The fall of $30 per plcul for all grades was affected by the weak London and New York markets. Notional quotes for all Sades according to the ngapore Chinese Produce Exchange were API $395 per piCUI, AP
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    • Article
      Hongkong comex
      196 4 THE SUGAR futures market closed slightly firmer in quiet trading yesterday, with five lots traded against four on Wednesday. Traders were hesitant due to uncertainty about overseas market movements. The Hongkong dally spot sugar prices rose U50.05 to 7.00 cents, while net open positions after Wednesday's trading totalled
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    • Article
      SPOT PRICES
      190 4 YARN and cotton in Hongkong dollars, spot ex-godown Cottaa Tan: China Blue Phoenix 20 i 1.705. 32's 2,156. 40's 2.235, (per bale of 400 lb*). Piaee Coeds: China Butterfly and Qlobe Brand unq, Dragon Head unq. Five Lambs unq. Flower and Butterfly unq. Flying Oeeae unq. (per piece
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    • Article
      Sugar
      301 4 TERMINAL yesterday morning opened £0.70 to £1.25 per tonne higher than Wednesday's levels and turnover totalled 1,027 lots in London. The market was marked higher initially on followthrough from the very steady kerb close and easier sterling against the dollar. However, the higher levels attracted fresh selling and prices
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    • Article
      Straits tin
      197 4 THE STRAITS tin price In Penang yesterday fell another 107H to $1,725 per plcul on an official offering down 50 tonnes to 196 tonnes. In LONDON yesterday, tin fell £70 for cash and £85 for three months standard while high grade was down £67 and £75 respectively. Dealers
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    • Article
      Coffee
      314 4 TERMINAL in London opened £27 to £37 per tonne down and turnover totalled 419 lots yesterday morning. The market opened lower under long liquidation and fresh commission house and chartist selling prompted by Wednesday night's lower New York close and continuing warm and stable weather in Brazil's coffee areas.
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    • Article
      Cocoa
      276 4 TERMINAL cocoa in London steadied at the opening call yesterday morning despite early declines against New York of up to £6.50, to finish the call with on balance gains of £5.50 to £24 per tonne. End-call levels were below the highs although prices again turned steadier In open trading.
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    • Article
      Wheat
      103 4 WHEAT futures closed at or slightly above the day's lows on Wednesday, recording net losses of three to 6-1/4 cents a bushel in Chicago. A large commercial firm during the session purchased an estimated four to six million bushels of mainly the December as well as Corn futures finished
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    • Article
      Soybean
      120 4 80YBEAN futures In Chicago closed 12-1/3 to 10 cents a bushel lower In the two nearby months while other contracts ended off 3H cents on Wedneeday. Local and professional 'Pleading surfaced late in the session, traders sald The decline then accelerated on commission house stoploss selling. Rumours that Brazil
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    • Article
      Copper
      346 4 COPPER wlrebars In London finished the mornIns down £12.5 for cash and 13 for three months yesterday morning. The early pre-market eased sharply following the overnight trend at New York, with three months trading down to £271 per tonne before short-co vring gave some support. Later, commission house liquidation
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    • Article
      Silver
      228 4 SILVER in London declined by mostly 3.3 pence per troy ounce yesterday morning. Initial pre-market values were marked down In line with the overnight close at New York. The market then moved narrowly as liquidation was generally well absorbed by covering. Sales were 54 lots. On Wednesday afternoon, silver
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    • Article
      Gold
      410 4 THE KILOBAR in Singapore yesterday opened at 8*13,950 and closed at $13,040 with a narrow trading range of $30 under featureless trading conditions. Bpot gold for London delivery opened at U5185.60/00 and closed at $185.55/85. The London morning fix was U*****.55, down 80 cents from the previous fix. In
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    • Article
      Zinc
      78 4 ZINC declined by mostly £10.5 per tonne in London yesterday morning. The metal followed the general downtrend, with liquidation and stoploss selling taking three months down to £306 per tonne in early ring dealings. Modest short-covering developed at the lower levels although the market closed trading around the lows.
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    • Article
      Lead
      83 4 LEAD yesterday finished the morning down £7.5 for cash and £8 for three months In London. Dealers said the market declined under liquidation prompted by the sharp fall in copper although there was some covering against reported physical business around the lower levels which cushioned the fall. Three months
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    • MONEY AND EXCHANGES
      • Article
        Singapore market
        522 4 THE US dollar managed to hold its ground towards the close or trading on the foreign exchange market yesterday. After being traded down in some counters, the dollar later firmed against major currencies. Against the yen, the US dollar opened at 210.35/45 and was maintained at this level
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      • Article
        Asian $ and CD rates
        163 4 Asian and CD rates ASIAN currency deposit u imtaa u at cIom on Jun* a ntcrtmai US MUi OCtar fllllff 1/t 1/4 ....tin* ...8 U/l« ...44/14 ....•1/t ....4V14 fks. (■mil p 41/4 41/4 4/14 44/14 1/14 t 41/14 Dm. rtcl 1 mUi JbUm 4 bum 12 BUM 1VI ....IM ....a
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      • Article
        Discount
        35 4 HANOI of prtcat offartd by discount houM on Job* 8 3-month TTMaurybin* Il/M JVM JHBonUi Bank Mil* 41/» 4 Vi I Month CD 41/1 41/4 ft-month CD ll/S t Source: National Discount Co. Ltd.
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      • Article
        MLR
        14 4 THB average rale at which Singapore banks are currently prepared to lend te
        14 words
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        Frankfurt
        37 4 FRANKFURT exchanges opening quotes on June B. osteMS/ss Qui IJ4IMI Stf ]SK/M» DO 93 80/15 str \\jmm ut 2«a/ue ttr 4S .4S/M Hkr 3S JS/SS Bfr earn t as/asß Bfr fin JM4 Yen O S SIS/SB
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      • Article
        London
        201 4 THE DOLLAR* firmed against major currencies and against the yen, it was little changed In moderately active opening business yesterday. Remarks by Bank of Japan governor Teilchlro Morinaga Indicating the central bank could Intervene strongly to support the dollar depending on future developments appears to have held back any
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      • Article
        New York
        160 4 THE DOLLAR closed weaker against major currencies in active and often hectic trading on Wednesday. The US currency firmed slightly against the yen following a statement by the governor of Bank of JaSin that the Bank may tervene strongly to support the dollar. The yen eased to Its
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      • Article
        Tokyo
        130 4 THE DOLLAR for overnight delivery closed at 200.85 yen yesterday, down from a 210.50 opening, but slightly up from 209.55 on Wednesday's close. Trading volume was an active US$5l9 million. Dealers said the central bank was believed to have intervened to support the dollar by buying an estimated $20
        130 words
      • Article
        Hongkong
        112 4 THE US dollar closed lower against the yen yesterday, but held generally steady against other currencies In fairly active trading. The U8 dollar .fell to 209.80/00 yen from New York's close of around 210.70 after openlnf at 210.46/85 and marginally to 2.0790/40 marks from about 2.0740 In New York
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      • Article
        Euro $ rates
        54 4 Euro rates EURODOLLAR deposit rates opened generally firm yesterday, reflecting the Federal Reserve Bank's apparent move to tighten US monetary policy. solar n-«/u n-T/i« MIMO 4m 1-1/t 1-9 M Ira Sava fte and doHm *-W< •> OM mttj 1-1/4 S-l/S Two H» %-Vj m Thrw MOM S-11/M Si«ti»-MSM Mkw arttia
        54 words
      • Article
        Zurich
        36 4 ZURICH exchanges dosing quotes on June 21. Siss^mShSm CU I.WSI II Dmk M.M47-STM PC !».—I rtr w.nm-TMi Bft S.ISSB-TMS Dkr 51.1145-1411 Wkr ItWMIS Lit JtTT-Sl* Au» teh 11. W MM Port 4.(83*-om* Arr«M-M Ten 0.M47-SMI
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      • Article
        Australia/NZ
        10 4 AUSTRALIA/NZ exchanges quoted on June a. AGSnULU: H^— vSHSSuIMm
        10 words
  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      45 4 General Motors Overseas Corporation and General Motors Overseas Distribution Corporation Effective Monday June 26, 1978, our offices will be located at the following address: Rooms 104-107 Jurong Town Hall Jurong Town Hall Road Singapore 22 Telephone No: *****33 Telex Nos: RS-***** and RS-***** A/B GMSING
      45 words
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  • TRANSPORT
    • Article
      Unions fight the glut in shipping
      539 5  -  By RAHIM KASSIM THE MAIN task facing shipbuilding workers' unions worldwide Is to fight the chaotic conditions in their industry by developing and systematically using their trade-union strength. Trade unions must also pressure their respective employers and governments to discard cut-throat competition which only
      539 words
    • Article
      Lock icon BANGKOK AIRFARE HIKE
      132 5 AP PASSENGERS from Bangkok flying on regional and Pacific routes will have to Ky 5 per cent more on air res from July 15, according to a resolution adopted by the Thai Orient Airlines Association on Wednesday. Cathay Pacific Airways, a member of the association, said yesterday
      AP  -  132 words
    • Article
      Lock icon Egypt to buy British ships
      273 5 AFP EGYPT wants to expand its merchant fleet by more than 40 vessels and Is hoping to place contracts with British Shipbuilders. Dr. Nairn Abu-Taleb, Egyptian Transport, Communications and Marltime Affairs Minister, had talks with British Shipbuilders' chief executive, Sir Anthony Griffin on Monday and
      AFP  -  273 words
    • Article, Illustration
      THE MISSILE EDGE
      361 5 VOSPER Pte Ltd is one up with the completion of three 37-metre missile craft, costing some $100 million. Mr Robert Du Cane. Vosper's managing dlrecjj' the firm is now able to design and build such ships up to metres In length complete with weapon systems. He was
      361 words
    • Article
      Lock icon Soviet rate cuts alarm America
      656 5 NYT RATE-CUTTING by Soviet ships Is viewed Increasingly as a threat to the US maritime Industry by US Government officials and shipping executives. Mr. Robert Blackwell, an Assistant Secretary of Commerce, warned recently that urgent steps were needed to curtail the expansion of Soviet shipping,
      NYT  -  656 words
    • Article
      Golden Victory crew's saviour
      215 5  -  By CHAN BONG SOO ALL BUT one of the 31member crew of the Taiwan-owned Oolden Victory owe their lives to Capt Adamowlcz of the cargo liner Wladyslawowo In a rescue drama on the high seas. The radio officer, Mr. Hwang Shian Suyng, of the 8,954 dwt
      215 words
    • Article
      Lock icon LONDON FREIGHT
      156 5 UPI OVERALL chartering continued to dwindle due to a shortage of inquiry. North American grain fixing comprised little more than two fixtures. U8 northern range shippers worked 53,000 tonnes to the Ghent-Ham-burg range aboard the Mlkunlsun Maru In early July at US$5.B5 (5513.46) (FIO). US Oulf shippers' arranged
      UPI  -  156 words
    • Article
      Lock icon JAL strike called off
      63 5 AP THE Cabin Crew Union of Japan Air Lines (JAL) called off its three-day strike yesterday in favour of negotiation with management over a higher summer bonus. JAL officials said all its flights returned to normal yesterday. The strike began on Monday with the union demanding
      AP  -  63 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      768 5 Operator NmWr Tfaa* From CAL CD31 0040 TPE/HKO/KUL PAA PA006 0118 SFO/HKO MAS MH801 0700 KUL MAS MH682 0725 KCH 8IA SQ101 0815 KUL MAS MH621 0840 PEN MAS MH007 0046 KUL MAS MH871 0845 PEN/KUL CPA CX710 1806 HLP OIA GA980 1030 HLP SIA SQBU 1035
      768 words
    • Article, Illustration
      SHIPS IN PORT
      357 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Hoegh Pilot (0300) 8/7 Kim Ann (0600 after Benlawers hauls) 33/34 King River (1500 after Fan thai) 23 Tapah (1600 after Perak) 21 East PASIR PAN JANG WHARVES Golden Valley (0600 after Sun Diamond )Odns. 302 CB 3 859-965 Hoe Hlng (1000
      357 words
    • Article
      Emery's new freight service
      224 5 EMERY Air Freight has launched a new lightweight air shipment service from the United States and Canada to 28 major cities In Europe, Asia and the Pacific, including Singapore. Known as Flyte-Pak, the, service Includes an attache case-type pllfer-proof container (measuring 38cm by 30.5 cm by
      224 words
    • Article
      Lock icon China-Australia container service
      98 5 Reuter CHINA Oceair Shipping Co will shortly begin a container vessel service on the China-Australia run, a spokesman for James Patrick and Co Ply Ltd, the Chinese shipping line's agent, said In Sydney. He said Patrick's was awaiting instructions on the actual start of the service but
      Reuter  -  98 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      198 5 SINTAT Rent-a-Car SINGAPORE AIRPORT TEL *****5 CITY TEL *****5S Call us for your local or onward reservations ONE GOOD PUBLICATION THAT'S worth a thousand watts If you're Into hi-fi. you'll certainly en)oy reading The Craft o! Sound a Handbook o! Hi-Fi Hints, tilled with interesting and essential features for all
      198 words
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  • Article
    Service better than gimmicks
    379 6 THE DAT should never come when local and foreign banks In Singapore regale depositors with all manner of gimmicks, ranging from plastic ducks to free television sets, In order to get their custom not when the standard of retail banking services in Singappre is still so
    379 words
  • Article
    The customer gap
    333 6 There Is so much more that banks here can do. They can train their tellers to provide a friendlier and more courteous service. They can keep their clients posted on the various old and new services that the bank maintains for their benefit. They can handle the
    333 words
  • Article, Illustration
    Lock icon Gloom among the bright lights for Japan's ad men
    1362 6  -  THE OUTLOOK for this year's advertisement agency business in Japan is gloomy. Even major agencies like Dentsu believe that business will be the worst this year since World War 11. This is partly attributable to a slowdown in the rate of
    Source: Dentsu Advertising Ltd.  -  1,362 words
  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      219 6 m I >r < r Not a drop is sold Till it is 12years old Sianjcsc Seafood Regale \ourself on a galaxy of palatable Thai food. done in superb style. Attractively and artistically prepared by our Thai Chefs, and served in the romantic surroundings of the garden patio, our Siamese
      219 words
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      Page 6 Advertisements Column 2
      45 6 m m t i L X J Ift# After a long day, enjoy a ooot. relaxing <frink and listen to soma good pop. bluet, evergreen and jazz. If you have a special request Just let toe band know. Appearing mghtly, except Mondays at tfte 5
      45 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      63 6 OUTLOOK for Singapore from 6 a.m. to noon today: Occasional rain in early morning. Report for 24 boon prior to 7.30 p.m. on June 22 at the airport: Maximum Temperature 31.8° C Associated Humidity 66 Minimum Temperature 24.0° C Associated Humidity 94 Hours of Sunshine 10.2S WiiwMi in MiiHi—tw 1.7
      63 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      253 6 irfiiro SINGAPORE 5 3.00 PM Opening announcements followed by Housewives' Matinee The Pitiful Girl (Repeat) A Hokkien feature film 4.40 Intermission 6.05 Opening announcements followed by Exercise With Gloria 6.30 News in Brief 6.35 The Tony Randall Show Case: Walter Screws Up 7.00 Tinjauan (Malay-Repeat)* 7.30 News and Newsreel in
      253 words
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  • Article, Illustration
    Lock icon More Koreans are moving up the economic ladder
    1265 7  -  By ANDREW MALCOLM NYT KA*G DAL OHN is a teacher, a husband and a father. He is also a symbol of major change In South Korea. For Mr. Kang Is a member of a brand-new. almost revolutionary, social stratum in Korea the
    NYT  -  1,265 words
  • Article, Illustration
    Lock icon The machine that beats building giants in W. Asia
    840 7  -  By YOUSSEF M. IBRAHIM NYT "THESE GUYS are something else. They go In there like a tornado. They bring their own workers from engineers on down, their own clerks, cooks, food, doctors, clothing, movies. They build their own housing. They do
    NYT  -  840 words
  • Article
    STRAWS IN THE WIND
    575 7 THE CHINESE In Hongkong don't bottomplnch, like the Latins; they er boob-bash. A Hongkong radio talk-In show discovered this when several women rang in to complain. A newspaper survey revealed that 70 per cent of Its female Interviewees had suffered at the hands of "boob-bashers." Which
    575 words
  • Article
    Lock icon A lion in the path of recovery
    831 7  -  FORUM t ...on economics •y PETER RIJDDELL Peter Riddell is tfte Financial Timet of London's economics cones- pondent FT INFLATION has again become a major preoccupation of the public, economists and governments throughout the world. Although the rate of Increase In prices Is
    FT  -  831 words
  • Page 7 Advertisements
    • Advertisement
      Page 7 Advertisements Column 1
      50 7 V-V' Lunch TODAY -OKOH rv r «a rj «&5» *4 w t S5 _j 4^ H r V W 9 3 branches for your convenience: SINGAPORE OKOH Supreme House, Penang Road. Tel *****1 OKOH OF GINZA '•long Leong Bldg Raffles Quay. Tel *****81 .\ATSURA Orchid Inn. Dunearn Rd Tel *****2
      50 words
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      Page 7 Advertisements Column 2
      66 7 ESvf U V v T* Youll team like royaJrv at the Rang Mahal, Palace of Colour*. On our daily menu are the nine gourmet favourites lowed by Mogul Kingi of old. Tandoori Indian food can be hot and fiery, or delicate and lubdy yiced. Whatever your ta*e, it will taae
      66 words
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      Page 7 Advertisements Column 3
      78 7 HOTEL ASIA 37 Scotts Road, Singapore 9 Tel: *****8 HOTEL EQUATORIAL 429 Bukit Timah Road, Singapore 10 Tel: ***** GARDEN HOTEL 14 Balmoral Road, Singapore 10 Tel: *****44 GOODWOOD PARK HOTEL 22 Scotls Road, Singapore 9 Tel: *****1 HOTEL GRAND CENTRAL 22 Orchard/Cavenagh Roads, Singapore 9 Tel. *****4 HOLIDAY INN
      78 words
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      Page 7 Advertisements Column 4
      76 7 HOTEL MALAYSIA 40 Cuscaden Road, Singapore 9 Tel: *****1 THE MANDARIN SINGAPORE 333 Orchard Road. Singapore 9 Tel: *****1 THE MARCO POLO Tanglin Circus, Singapore 10 Tel: *****1 HOTEL MERLIN SINGAPORE 7500 Beach Road, Singapore 7 Tel: *****11 MING COURT HOTEL Tanglin Road, Singapore 10 Tel: *****3 HOTEL negara 15
      76 words
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      Page 7 Advertisements Column 5
      77 7 ORCHID INN 214 Dunearn Road, Singapore II Tel: *****2 ORCHARD HOTEL 2 Orange Grove Road, Singapore 10 Tel: *****1 HOTEL PHOENIX SINGAPORE Orchard/Somerset Roads, Singapore 9 Tel: *****6 PENINSULA HOTEL Coleman Street, Singapore 6 Tel: *****1 RAFFLES HOTEL 1-3 Beach RofrfT. Singapore 7 Tel: *****1/***** SHANGRI-LA HOTEL 22 Orange Grove
      77 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Page 7 Miscellaneous Column 1
      50 7 BnStOK T ]xcken£ SIGH? \rs uo use... KJcjEP TV-UNKIHG of kgokgcous miss PWty o* tojbfeNflPHortc. MP«D to \rnRQ,»Ne 6e»N& 6rf PS NfOUW& SUP OF pv Gifcu em- mere's doubt —i ftw I CBM'T SiMP. ..I CAN T fcHT I CRN'T DO WVMCMI CftMT DO nUM&... CJpibl'T DtCWffc. CfWT ORE*! fiNy
      50 words
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Lock icon Bullish turn for share prices
      549 8 TOKYO Source: DBS Daiwa THE market yesterday closed bullish centring on high-priced blue chips and pharmaceuticals, although the yen exchange rate against the dollar moved around the Y2lO level. Mutual funds were active buyers In the afternoon of phar- maceutlcal Issues such as Green Cross,
      Source: DBS Daiwa  -  549 words
    • Article
      Manila
      120 8 THE market closed mixed yesterday, dealers said. Turnover rose to 10.23 million pesos. Leading commercial and oil Issues rose slightly, while leading mining shares fell. JUNE 22 Pesos Acoje Mining .011 unch Atlas Con. A Alias Con. B. 18 40 unch Bagulo Gold OOM unch BencuetCon. B 28 23
      120 words
    • Article
      Sydney
      349 8 THE market yesterday eased again, dealers said. BHP fell eight cents to $6.98, the Bank of NSW two to $8.92, while CSR was unchanged at $2.98 and the ANZ Bank roee five to $2.98. Consolidated Gold Fields, Renlson, CRA, MIM, Pancontinental, Robe River and North BH all fell, while
      349 words
    • Article
      Bangkok
      181 8 THE stock market closed tower yesterday. Dealers said the Book Club Index dropped 0.71 point to 166.94 turnover of 06.3 million baht. Bangkok Bank. Thai Farmers Bank and Bangkok Investment were unchanged at 373. 306 and 344 baht respectively. JUNK 22 Bahts Asia Fibre Ml -3 Bangkok Bank 373
      181 words
    • Article
      Hsin Chong
      73 8 HSIN Chong Holdings (HK) Ltd announced a final dividend of HK 11 cents (same) making total of 16-1/2 cents (same) for the year ended March 31. Books closed July 17 to 31 Inclusive. Consolidated net profit came to $15.9 million ($19.5 million). Philippine American Investment Corp announced net
      73 words
    • Article
      Lock icon Hongkong
      360 8 Source: SHK A RATHER dull start yesterday heralded a slide of 8 points In early trading but with turnover lighter than usual. Share price movements tended to be exaggerated. Following this expected reaction to recent dizzy activity, some short-covering was detected before lunch and prices then recovered sharply with
      Source: SHK  -  360 words
    • Article
      Paris bourse higher in active trading
      561 8 EUROPEAN MARKETS EUROPEAN bourses closed generally mixed on Wednesday. In PARIB, the market was firm in more active trading than on Tuesday, bourse sources said. They declined to give a specific reason for the Improved tone and discounted the V 4 point cut In
      561 words
    • Article
      Amsterdam
      211 8 JUNK 11 FU ABN 363.00 +0.5 Ahold KM 30 -1.2 Aka> 30 20 -0.1 AMEV 82 70 -0.6 Amfas ***** unch Am rot Bank 7# 10 +0.3 Bergoss 47.00 -3.5 Berk 93 10 +0.6 Bo Is 73.10 +0.4 Borsumlj 163 00 +0.5 Burhmann 73.SO -0.5 Byenkorf 91.00 +0.2 Calve
      211 words
    • Article
      Paris
      258 8 JUNI XI FT* coumii Alr-Uqulde 200 10 BSNOervala Danone 539 C 8 P (ThomaonCtf) 294.90 Cle Francalae dea Petrolea 130.40 Compafnle Financier* Compafnle Qenerale 360 Credit Ponder De France 337 Hachetbe (Ubralrte). 227 Machine* Bull 30.00 Michelln(B) 1302 Pari baa 100.40 Pechlney Clflne Kuhlmann 01 Peu«eot 370.90 Ph,iip*(N»Oein Bezlt)
      258 words
    • Article
      Milan
      103 8 JUNE 11 tire Ante MX) 1.75 Aaaoc On ***** -440 Bulogi 440 -8 Centrale 3679 -1 Fl»t 1780 -30 Flnslder 105 75 ♦3.75 Oenlmmob 74.75 -0 25 in Pri 2182 -43 iuicemenu ***** -130 Ilalfa* 880 SO +0.5 iudiider 1M 1 M&gnrtl M PI 484 unch MareUl Ere 283
      103 words
    • Article
      Frankfurt
      206 8 JVNT 2| Dm Aef-Telefunken 70 -2.7 Akso 28 20 -0.2 A1U Leben 000 -5 AiU Ver» 400 -1 BASF 130.30 -0.4 Bay H T Wbank 280 BayVbank 313 -4 Bayer 130 10 -0.5 BBC 285 50 -4.5 BMW 243 JO -5.5 Casaella 345B Chem Verw 247 -8 Commerxbank 224
      206 words
    • Article
      Johannesburg
      268 8 THE stock exchange was mixed In moderate trade on Wednesday with dealers anticipating a consolidated period folio wing recent gains. Gold shares tended softer during the afternoon session reflecting bouts of profittaking. dealers added. Mining flnanclals shadowed holdings, with Anglos 10 cents off at 570 and Amgold 30 off
      268 words
    • Article
      Selected indices
      63 8 FINANCIAL TIMES Tueeday 114* to 114* INDUSTRIALS ILK. HANG 81 NO Wedneaday 456.6 640 73 Tuesday 463.4 640 73 Week A0O 471.9 Week Afo Q40H DOW JONK8 AVERAGE 8YDNIT INDUCT INDUSTRIALS Thursday 430.04 Wrrttnudar 824 Wednesday 431 34 Tuesday 890.04 We«k Aft 437 37 Week Ago »4.86 LONDON
      63 words
    • Article
      Brussels
      95 8 JUNE 21 Fr» FORWARD MAR] SET Acec 322 ♦3 Arbed 2370 -IS Astur 810 unch Br&sc&n 481 -5 Bru-Lamb I486 -4 Canpac 554 -4 Cock 430 -20 De Beers 179 -1 Ebe» 2250 unch Electro bel 5440 20 Ob-Inno-Bm 21 IS -15 Gev 1284 -S Hobok 2255 -40 Petro
      95 words
    • Article
      Zurich
      186 8 JUNE 21 Francs Actions Sulsses 264 -W Alimmw Br 1270 -10 Alusulsae Ref. 515 *5 Brown Borerl Br 163S unch Clba Oelgy Br 1129 -10 ClbaOelfy PC 860 unch Clba Gelfy Reg Credit SuUae Br 506 +2 2200 •5 Credit Suisse Ref 410 unch Elektrowatt Br. 1750 unch Oeorfe
      186 words
    • Article
      European Options Exchange new series
      167 8 THE European Options Exchange said as from June 28, It will Introduce options on the shares of Akzo NV, Boeing Company, Occidental Petroleum Corp and Schlumberger Ltd. Options on shares of Hoogovens, Polaroid Corp and Xerox Corp will be Introduced as from July 3, It
      167 words
    • Article
      USINOR
      35 8 THE French steel maker Uslnor said it plans to put 7,000 workers on short-time at its Denaln plant for one week In September. The move results from Increased foreign curbed activity at Ustnov. Reuter.
      35 words
    • Article
      Continued pressure on stocks
      1183 8 NEW YORK INDICATIONS of a tighter monetary stance by the Federal Reserve and more pressure on the dollar pushed stocks lower In active trading on Wednesday. The Fed apparently notched up the Fed funds rate to 7-% per cent from 7-tt one day after Its Open
      1,183 words
    • Article
      Toronto
      291 8 BHARE price* closed sharply lower In active trading on Wednesday. The Composite Index was off more than 10* Pinto, Its laraest drop since Jan Metals, off 23* points, saw Its steepest decline in more than a year. Losses led sains 278 to 106. Versatile Manufacturing A shed to 14*
      291 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      236 8 I for the HOLIDAY SEASON For Adults: Clayhenger Trilogy Normal Price $16.70 Special Price $12.50 Sherlock Holmes Collection Normal Price $23.70 Speciel Price $17.80 Wsr Peace Normal Price $13.15 Speciel Price 9.90 Teles of Horror end the Supernatural Normal Price $22.80 Speciel Price $17.10 Graham Green Collection Normal Price $36.20
      236 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Rhone-Poulenc out of the red
      531 9 r EUROPEAN RHONE POULENC. France's leading chemical group, claims that the return to a small consolidated profit after two years of heavy losses shows that its recovery programme is J beginning to bite. In 1977 the group recorded a FFr 84 million consolidated profit on
      531 words
    • Article
      Profits rise sharply at Roussel-Uclaf
      566 9 ROUSSEL-UCLAF, the pharmaceuticals, vete"nnary and perfumes group, ,„in which Hoechst or Germany has a majority sharehold In g, revealed consolidated 1977 results which show a sharp advance In profits, further progress In penetrating overseas markets, and the .effect of the continued policy of diversification to
      566 words
    • Article
      Dutch chemicals outlook murky
      373 9 PROSPECTS are gloomy for the Dutch chemicals industry over the next few years, according to Mr. Epple ter Horst, chairman of the Dutch Chemical Industry Association (VNCI). In his annual report Mr. ~t«r Horst describes 1977 as the worst year since the Second World War, with
      373 words
    • Article
      Income could drop at Roche
      122 9 BASLE: F. Hoffman La Roche und Cie AG'* multi for 1978 could be less favourable than those for 1977 if the monetary position does not chance, outgoing chairman Adolf Jann said. Last year the net income of the Roche/ Slpac Group fell to 336 million
      122 words
    • Article
      Profitability of Swedish firms still critically low
      363 9 THE profitability of Swedish companies Is still at a "critically low" level and a substantial increase In the return in Invested capital Is required to achieve a broad revival of investment activity in Sweden. So says Skandinavlska Enskllda Banken (SEB) in Its June
      363 words
    • Article
      Earnings boost at Courtaulds
      179 9 THE treatment of regional development grants in the accounts of Courtaulds Ltd does not comply with the relevant accounting standard and results in an increase in group pretax profit of £4 million to £53.7 million, the annual report shows. The report says the grants for projects
      179 words
    • Article
      Pretax profit up at Powell Duffryn
      153 9 POWELL Duffryn Ltd announced pre-tax profit of C 15.01 million (£13.69 million) for the year ended March 31 on sales of £343.63 million (£303.38 million). Earnings per share came to 41.8 p (42.1 p). Final dividend was 6.5 p making total of 10 p
      153 words
    • Article
      AEG-TELEFUNKEN
      118 9 ALLGEMEINE Elektrlcl-taets-Gesellschaft A EG-# Telefunken can expect no improvement in earnings this year and will again be unable to pay a dividend, managing board chairman Walter Clpa said. He told the annual meeting both domestic and foreign sales are expected to be slightly below last year's level. AEG previously
      118 words
    • Article
      CHICAGO BOARD OPTIONS
      1678 9 June 21 CHICAGO Board Options Exchange volume of 102,409 contracts was off slightly from the 103,388 contracts traded on Tuesday. OPTION JLY OCT JAN STOCK Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel AUR AUR AUR Avon Avon-P Avon A»on-P Aran Avon-P Avon Avon-P Bank Am
      1,678 words
    • Article
      Lock icon Saudi British Bank takes over operations
      207 9 r ASIAN Reuter HONGKONG: Saudi British Bank will take over the Saudi Arabian operation. of the British Bank of the Middle East < BBME from July 1, the Hongkong and Shanghai Banking Corp said. Saudi British Bank has been set up as a Saudi
      Reuter  -  207 words
    • Article
      Sanyo bond
      68 9 FRANKFURT: Sanyo Electric Co Ltd's 150 million mark 10-year convertible bond, due to be issued next month on the German capital market, will bear a 3.75 per cent coupon, Deutsche Bank said as joint leader of the underwriting syndicate. The coupon will be payable half yearly and conversion
      68 words
    • Article
      Itoh signs contracts
      60 9 ITOH and Co. of Japan said It has signed contracts to supply a basic oxygen furnace, an oxygen furnace gas recovery system and two lime calcining plants valued at 8,700 million yen to Pohang Iron and Steel Co. of South Korea. The furnace and plants will be
      60 words
    • Article
      Exxon may need to borrow
      241 9 f y N.AMERICAN EXXON Corp will need to make substantial borrowings in the next decade to finance developments such as oil shale, chairman C. Garvin said. He said return on Investment would not be sufficient from some future developments. He said although critics think the
      241 words
    • Article
      ATT raises earnings
      152 9 HELPED by growth tn long distance telephone calling, American Telephone and Telegraph Co. reported more than a 14 per cent rise in profits for the threemonth period ended May 31 of this year. The giant utility, affectionately referred to as "Ma Bell" by her nearly three million
      152 words
    • Article
      Lock icon Westinghouse cash settlement reached
      115 9 Reuter WESTINGHOUSE Electric Corp said it reached an out of court settlement with Union Electric Co of St. Louis over a US$2B million lawsuit Involving two steam turbine generators. The suit, filed In 1973 in US district court for the eastern district of Missouri, arose from
      Reuter  -  115 words
    • Article
      United Technologies power systems
      113 9 UNITED Technologies Corp said its power systems division received over US$l2O million in contracts from the government of Saudi Arabia for oil pipeline equipment. Under the contracts, power systems will supply drive systems for the 1,200 km oil pipeline which will stretch from the Arabian Gulf
      113 words
    • Article
      Lock icon Eastman Kodak to sell new cameras
      122 9 UPI EASTMAN Kodak Co. announced It will begin selling three new oameras, an Instant and two poeket-slsed, with bullt-ln flashes, starting in July. The photographic firm also said It will begin distributing a new high-speed colour slide film next month. The two pocket-sized cameras
      UPI  -  122 words
    • Article
      Lock icon Philip Morris offer
      107 9 Reuter PHILIP Morris Inc said its board approved the registration statement with the Securities and ExchAnge Commission for a proposed public offering of jtwo million common shares and US$l5O million In debentures due 2003. The company said' its board also called for the redemption of the 1100
      Reuter  -  107 words
    • Article
      Kennecott returns two mines
      100 9 CHIEF Consolidated Mining Co said the Burgln mines on land under unit lease by Chief and another co-lessor to Kennecott Copper Corp will be returned to Chief on July 15 because Kennecott will no longer mine there. Kennecott has been operating two mines on the tract,
      100 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      219 9 m 'I ¥S 4> A Win I H >• $105/-POST FREE 310 pages. 30 x 27.5 cm with 253 illustrations including 92 plates in full colour. gf\ Tf N Now/ o# Sale at all good bookshops or order direct from TIMES DISTRIBUTORS SON. BHD., Mail Order Division, No. 1-4. No*
      219 words
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  • DEALS DONE ON THE SES AND ELSE
    • Article
      In Singapore
      1332 10 BID and offer prices officially listed and business in and reported to the Stock Firhangt of Singapore r esterday with the number or shares traded tttown In brackets in tou of 1,000 units unless otherwise specified An Time Settlement Contracts are quoted after the world "sett." Blf Board
      1,332 words
    • Article
      Government and corporate bonds
      253 10 4 i/ 4% IWM (250,000) (100.488 100 568) iM&j""* <,M<KK SSW (Sao.om) (loo.»b 100.756) f* T* IVIMI (250.000) (106.908) T F 1/8/88 (250,000) (100.458 100.556) •W"'WVtl-U (150,000) (102.868) 7% IV4/8B (150,000) (100.908 101.058) (3*0,000) (100.75B) ,«l? n 1,/IW4 (250,000) (100.SOB) io&v"" 7 (a6ooo#) fioV£Bj pIV7/n 000)
      253 words
    • Article
      Stock options
      39 10 BTRIKINO 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 optloni traded shown In bracket!. Si me Darby (Sept
      39 words
  • Article
    SHARE INFORMATION SERVICE
    2482 10 1978 High Low Company Last Sale +OTGr'» Div Div C'vr Gr's Y'ld Net P/E Vol Day COM) Hich Low i I SECTION ONE i INDUSTRIALS '215 214 172 225* 83 225 261 210* 478 432 132 Acma 123* Alcom 112 Allied Choc 195* Bala 80* Ben 162
    2,482 words
  • Article
    In Kuala Lumpur
    1893 10 BID and offer prices officially listed and business in and I reported to the Kuala Lumpur Stock Enhance yesterday with the number of shares traded shown In brackets In lots of 1,000 units unless otherwise specified. INDUSTRIALS Aama <3.128) (1) J. 10. AJtaamata (2.508 2.568) (2) 2.60.
    1,893 words
  • Article, Illustration
    Market softer on lack of support
    668 10 PRICES Armed wrfar yes*«day «H» the Stock El Mogapere bat failed to maiataia their l«vel» doc to a lack of follow through support. However, late support carried selected counters hlghw. ckc M«. J«ek ChiaMPH and Metro Holdings £•s™!*! fcU tkrou < > day. bat
    668 words
  • Article
    KLSE prices ease on profit-taking
    547 10 SHARES were easier across a fairly broad front In moderate trading at the Kuala Lumpur stock market yesterday. Losses, however were marginal, thanks to some last minute support which lifted prices off their day's lowest. Dealers commented that after three consecutive days of steady Improvement.,
    547 words
  • Article
    Unit trusts
    129 10 UNGAPOU UNIT TBUffT D4COM* BOND UNIT n (Kill—i' prise* tm Mmm S| (Cwil WKimm) The Commerce J.04 11M LNCOMZBOHD l.M 1.11*" The 8»»lnf Fund 1.17 IM 8'pore Prof Fund 1.M l.M MAKA WMWIVA FUND 8 por* Security iriai tm 1mm M Fund 1.M l.M nm Bumlpuvm L7I IM
    129 words
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  • COMPANY NEWS
    • Article
      Kulim poised for growth
      1127 11  -  HIGH RATING BY MARKET •r SUSAN THAM WITH the prospect of increasing production from Its new 5,280 hectares of oil elm, which was acquired December 1976, Kullm (Malaysia) Is now poised for a further phase of expansion. Chairman P.B.L. Coghlan says In his latest annual review
      1,127 words
    • Article
      Consolidated Plantations downturn inevitable
      574 11 A SIGNIFICANT fall In third quarter earnings at Consolidated Plantations caused its overall pre-tax profit to drop by 7.5 per cent in the first nine months of the current financial year. Profits declined from $56.15 million to $51.93 million for the nine months to end—March 1978,
      574 words
    • Article
      COMPANY MEETINGS
      345 11 Ampang, Kuala Lumpur, at 11.00 a.m. on June 26. Public Bank Bhd: AOM to be held at 3rd Floor, Bangunan Yee Seng, 15, Jalan Raja Chilian, Kuala Lumpur, at 12 noon on June 27. Strait* Trading Co Ltd: AOM to be held at 20th Floor, Straits Trading Building,
      345 words
    • Article
      DIVIDENDS ANNOUNCED
      225 11 Cvrwt Ex DM !C Data payaMt Ittalfcr Omymr Tttatfer ptvrtmm y Mate 29% May 20 JunO Jun 23 20% 27%% U—«. PWif tin i 12 W% May 21 JunO Jun 23 17%% 10% K.G. HMo. 12% May SI JunlO Jun 24 12% 10% IMTDHL 10% TK Junl JunlO
      225 words
    • Article
      SCRIP ISSUES
      174 11 Cwyy Particular* Ex Date Books Close HW|Lhi Orieatal Holdiaga Owrtfifillh MaUru Plow Straits TrwMmg SiiHafCku Pogi Malaysia M'sUa PeoAsrilk Un Hoc i—fi PU lid Syathetic Rodms Bonus Issue of 1 for 2 Bonus Issue of 1 for 2 Bonus Issue of 1 for 2 Bonus Issue of 1
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      1207 11 ASSETS EUROPEAN ASIAN BANK BALANCE SHEET as at December 31,1977 Cash in hand Balances with the Deutsche Bundesbank Balances with foreign Central Banks Balances on postal cheque accounts Cheques on other banks, matured bonds, interest and dividend coupons. and items received for collection Bills discounted including a) rediscountabie at the
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  • Article, Illustration
    Flow of capital to Singapore is maintained
    438 12  -  •y RONNIE LIM FOREIGN Investments In Singapore's manufacturing Industries rose 11 per cent to $4,145 billion at the end of last year. •This reflected the Republic's success In maintaining the investment momentum of previous years, despite more difficult worldwide economic condition s and
    438 words
  • Article
    Rubbing in the natural rubber shortage
    183 12 NATURAL rubber supplies will be Inadequate to meet consumer needs from the early 1980s unless action is taken now to Increase output. Dr. B.C. Sekhar. Controller of Rubber Research, Malaysia, told the international rubber study group annual meeting in Washington that technology is being
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  • Article
    Set up strong links with Asean now, Aussies told
    348 12 AUSTRALIA has been warned by an Asean spokesman that It should begin establishing strong trade links with South-east Asia If It wants to gain the advantage of tariff concessions from Its new economic bloc. The spokesman confirmed that Asean Is moving
    348 words
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    HK asked to think about central bank
    138 12 HONGKONG needs to explore the possible future need for a central bank. Retiring banking commissioner Anthony Ockenden in a speech to local businessmen, said the current willingness of the Hongkong and Shanghai Banking Corp to accept the responsibility of carrying out some of
    138 words
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    Lock icon REINING IN FOREIGN BANKS
    1186 12 Reuter NYT US FEDERAL Reserve Board chairman William Miller called on Congress to strengthen a bill that would impose Federal regulations on foreign banks in America. The bill would make foreign banks subject to some regulations, Including generally loose reserve requirement rules but it would continue
    Reuter; NYT  -  1,186 words
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    LONDON STOCKS
    740 12 LONDON, Thurs. Prices darted lower in light trading, though the market closed above lowest levels following a (Mimical reaction. At 3 pm Financial Times Index was down 2.9 at 452.7. Government bonds showed a net rail of after losing up to at the outset following selling ahead of
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  • Article
    No starry business figures for the Penang Star
    355 12  -  ■y MANO SABNANI STAR Publications Berhad, publisher* of the tmmmg newspaper, The Star, incurred a loss of $760,083 last year. The latest deficit has further whittled down shareholders' funds to only 11.23 million from the tU million that was pat in when
    355 words
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    Lock icon NY pushes set-up of banking zone
    202 12 Reuter NEW YORK State Governor Hugh Carey urged the Federal Reserve Board to act quickly to permit the establishment of a banking free-trade rone in New York City. He was speaking at ceremonies marking the formal signing of a state bill which frees the
    Reuter  -  202 words
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    Lock icon Steel industry lambasts US tariff cut offer
    490 12 NYT THE United States has offered to cut tariffs on steel by more than 40 per cent and Is making lamentable progress towards an International agreement that would try to deal with steel's trade problems, according to Industry officials and the United Steelworkers
    NYT  -  490 words
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    How Morgan came to advise Ben
    443 12 A DISTRICT court yesterday heard how a merchant bank, Morgan Guaranty and Partners, was appointed financial advisers to Ben and Company after the firm's former chairman, Copal Chandra Kar Choudhury, suffered a heart attack. Mr. John D.R. Rasaya, Ben's former managing director testified that
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      433 12 3 months with Linguaphone and you'll be speaking fluent tpxmn Linguaphone's proven by 4,000,000 successes in 36 languages More than 4,000,000 people from al walks of lite around the *wrid have successful acquired another language through Linguaphone. Proof enough that you can just as easily master Mandarin as a second
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  • Article
    SHIPPING TIMES
    3179 13 SCHEDUIE A guide to ships loading at Singapore for Ports around the World The following list tabulates, by port of destination tne name of the ship, the shipping Une involved, and the estimated dates of arrival and departure, from Singapore port. to—— o—- ScaaDatch luu a Joint mt
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      351 13 Scan Dutch Fast and Regular Service To/From N.C. /SCAN/W.MEDVJU.K. Singapore: Tel. *****, Port Ketang: Tel. *****1. Kuala.Lumptir T <H. *****, Penang: Tel. ***** SHIPPING EVERGREEN LINE (EVERGREEN MARINE CORPORATION) FAR EAST/RED SEA, MEDITERRANEAN SEA EXPRESS FULL CONTAINER SERVICE ALSO ACCEPTING CJUKO FOGGEM*. LATTAKIA, BEIRUT. ALEXANDRIA. lENGMUI. TRIPOLI (LIBYA) Span 'MM
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      342 13 SHARJAH SHIPPING CO LTD Lr~ (UNIUD IMB [M BATES M NE«A AGt NTS p i- t v SHARIAH SHIPPING <S» PTE HO OMIENTAI SHIPPING C^fePORATION Mh floor Khpog Hoe Bid( KUALA LUMPUR Tf»?O6IS 31 Philip Si Spore 1 ISLAND CARGO HANDLING TEL *****3 *****? 912*30 PENANG TEL bIOIS CONTAIMER/CONVENIIONAL SERVICE
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      324 13 i£) Seatrain Lines Inc (U S A Trans-Pacific Service Full Container Service To USA FCfOCR VSL >*»« WITHER VSL MR OM U Qllf t/C AVEJSCL vn 1/7 Jl/7 A VESSEL 1/7 Una Iwts 15/7 2/1 4/1 14/1 17/1 1/7 M Full Container Service From USA wmom t/c oiu oh u
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      347 13 LIAN SOON SHIPPING TRADING CO (PTE) LID m. "KLMMT MT M.1.-CMRRTMN ■.r-KMNOM-■.I.-ffTMIMMM ••Ml "CNERRT CNMTtr* -smcw mnr n» -turnout moar imuir M.» "CMCMT T.M It* -OfflßT IM." 84-71 174-71 84-71 774-711 84-71 84-711 847 i 84-Ti am una, INPORT 84-71UCNMK INPORT 2*4-71 (OTIMMMUI. KUMT ***** 84-71 14-7-71 14-7-78JEMMH (1177 MM.T)
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      81 13 Nedlloyd Lines Popular Linf jinrtcoo To/From All Parts of the World. Singapore: T«L *****, Port Keiang Tei *****1. Kuala Lumpur Tel *****, Panang Tat ***** LORD STEAMSHIP CO B.A. M.V. loon chong vot vn CiMtlilil ilMtofi It^Tf r*. Wharf OUmwm m General surrey on rtemafed cargo dlac barged «z tbe
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      633 14 SHIPPING FUUV CONTAINERISED TO EIWOfE EXPORTS rpM PJUM* Htmf rtmNN L* Him 28/6 17/7 19/7 20/7 24/7 30/6 19/7 21/7 22/7 24/7 5/7 7/7 30/7 1/8 2/8 5/8 M/ 7 18/7 5/8 7/8 8/8 10/8 21/7 23/7 12/8 14/8 15/8 17/8 28/7 30/7 19/8 21/8 22/8 (31/8) 4/8 8/8 28/8
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      677 14 I C* SANKYO LINEI AUSTRALIA SERVICE Pbtoag Sngapan LM*«tar SEA BLOOM SAILED Wit hm FtC.UEL.Ma DIAMOND STAR 1/2 My S/Mlwh ADE. MEL, STD. THE MM 11/19 My 20/21 My DARWN, BUS. STD, MEL BANGLADESH SERVICE HAY CARP 11/19 JULY 16/17 JULY CHITTAGONG, CHALNA GENERAL AGENTS CONTAINER BOOKING LOAD AGENTS P
      677 words
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      607 14 tLAND U.S.A./ ASIA SERVICE brv rcfrkorteb container service sailing every hednesoav fob wn w CANADA. CtUHM. JAPAN. an. TRHRAN. HOW BONG. rHMLMO MO PHILIPPINE PONCE V 327 *m, GATEWAY CITY V7OO I*3 PONCE V 328 j«»y 11/12 wyi GATEWAY CITY V7Ol LL'iiJ -EAST SERVICELTL TO DUBAI I BANDAR ABBAS Oni/Mw
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      784 14 Everett Lines <■ lM ww ww tor Catfm. yHk "BURMESE NATIONAL LINE" LOADING FOft RANGOON B.F.S.S.C. Agents in Malaysia: TEPS MALAYSIA Port Kelang Tel (38>-7355 Penong Tel. *****/***** "ARGENTINE NATIONAL LINE" LOAOMG FOR DURBAN CAPETOWN. WENOS AIRES PATAGONIA ARGENTINA 30/57% TrMisfortMMß Rforrtima Mcxicmi S. A. "MEXICAN NATIONAL LINE" FAR EAST/MEXICO
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      558 14 J MJU \KI) I 1 W I \U >> kLV. I Orient Overseas Co*Uci*te4 Line tiiilH i n wt a/t 4/7 5/7 11/7 12/7 20/7 21/7 27/7 21/7 VI «/l 12/1 .12,'! IVi 11/ I FULLY CONTAINERISED XPTUNE PEAM. X CHEVALIER »02E X H ROM CONTAINER IX M/ 7 (VIA
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      604 15 RSCI Australia Straits Container Line 21 tail 7 My 21 JIM I Mv Blue Funnel (S E A.) cefltaur REIRUI PUSHtEI/CMK SERVICE TO/FROM FIEMAHTLE (EVERT II RATS) Sails Fiemantle i hi n im HTAHR 14 ial EHTAUR 4 tNiAu* a a»i Snrapora P. Ke sn# »«nang Smgtport IDM F'watla ZS/1
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      948 15 IK/CONTINENT M TpVii'' AMERICAN PRESIDENT LINES f itbaits ixraiat comtaimm ssmncs luHag M Hew Tat, (Mt Curt ml MM part* ky MM MMMim. Lm taptn, Sn Fiwmm m* Satth. SIHUNBE P. UUng LAagetn M/ 0 l*M (DiSCk) ;DlltCt> P. EISENHOWER" 27Jaae 26 June 19 1*1; »Ji P. IMSIVCIT 11 Jaly
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      504 15 BEN LINE 2—X r nh* M ft* II la* m ""st*»3 win M bmi «M| a Mr MM 1 M« I m •MI w tat m >4 M h| II ta| II la II tt| M( 22 A* M UN Salt IM 171 RF.NASIA CONTAINER SERVICE S part r. lUUflf
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      Page 15 Advertisements Column 4
      919 15 Scan Dutch V iYi l-WKI'M is/ j u/1 it/: a/1 a/1 a>/ > 1/1 i/1 >/1 11/ M/ I HI i «/1 m m i rr«7 a/ act. Mirr > «uau ND FROM MED/UK/ ;11 i; i burt i) M-k*cf s I'm* 4) R'daa SI L*M t) M'seilles P Kelan
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      373 15 GUTHRIE BOUSTEAD THE BANK LINE LTD IMK ML It AFUCA TATMM (Maarifiat. A* union. Ov Capetown) nan E«n i tarn 1.1., P.E., P Ktlan| nm M Sport wtt LYKES ORIENT LINE ELIZA IE TH LUES (tiMk) WTI ITKIS (LMft) SINGAPORE *****4 PT C E I AMG 3863u1 KUALA LUMPUR *****
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      765 16 rife IT Kline KAWASAKI KISEN KAISHA. LTD ■WJJIIIIULIIIMm (VIA SKB By CMbiHr •MENTAL researoer zt CNEVAUER PA* 11* kErTWie«uu.iv MCFTttK PEARL inr (aacn&n urpn t» t S'nort P. KelMf L.Havre HTwg Bremen R*tom A'«rp 21 Jw 21 Jw 1» "J* JJJg 14 iMv IMr 27 Mv 21 Mf 29 Jiff
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      859 16 E.C.-«.5.A./*TUUmC/S«IF SERVICE ACumM Fctyict cwnnos nwi rrm. t. ula*. Lmm tor: WVKI. NEW YBOB, BALTIMORE, RE* HU«, NOOSTON Singapore f-M«l M»a«a« "VI. WIST MWI" ts/17 My *1 n/a N/ 1-1 E.C./6REAT LAKES SERVICE Uatiat f*T: NtflU, NEW YBBK, HiraiL MBit MSUMU. RRWWT. MUM "t.O. mtssm" iwu a sci) r 1
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      825 16 NEPTUNE ORIENT UNES LTD 'FULLY CONTAINERISED SERVICES: n mm cm war rpore P. KetMf SIMMptM MIENTAI HSCMCMKt 2IJOM 21 Jmo KM >M| Jg camiaPML SM* •My OMT KPTME CUM. 11 My 12 My 21 Ml JM| J 4A* NEPTME PEARL 9My2l My '<« 52S CMVALIER MS 27 My 21 My
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      604 16 Li rii i ii EXPRESS CONVENTIONAL SERVICE TO UK/CONTINENT It P telaag Ptnaag iMiMI Hit MfLATI la Part Hburg 13/7. C*iM,Lßa» 16/7. Nw 21/7. Bait* 24/7, Htarg a/7, Lpool 29/7. SatlS H/12 la* IVM ta* Hburg 3/1. C4.«/Ltaa 7/«. Btaai 12/*. Bmtn 16/1. LBOOI 22/1 uti M/ii ia* a/n Mr
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      524 16 IMTRASEA (PTE) LTO Y I W a Kansai Line STRAITS/AUSTRALIA SERVICE Sitpport f. Kclmi LaMtaf to: SNNNY SYMCY I. Uk Hit MM Br*aM/Sy*wy/ Hwfcoorne/Adeliidi FMTWaV.T 17 My MMy do— ALPAC LINE SOUTH AnUCA SERVICE S port P. Kelanf Pening Ltafef to ALPAC V 2» IMr SMy Reuwon, Durban. P. E
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