The Business Times, 1 July 1978

Microfilm: NL9760
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    11 1 BUSINESS TIMES M.C.(P) No. 218/1/78 SATURDAY, JULY 1, 1978 50 CENTS
    11 words
  • BRIEFLY...
    • Article
      Lock icon ISO delays deadline
      63 1 AP Frt Th® council of the International Sugar Organisation voted today to postpone the deadline for levy payments to the sugar reserve > und from July l to Oct 1. The postponement was agreed to because a number of countries, Including the United States, still have to
      AP  -  63 words
    • Article
      Lock icon Blunt Callaghan
      61 1 Reuter LONDON, Fri. Prime Minister James Callaghan today bluntly told Britons they should expect only tiny pay Increases In the next round of wage bargaining. w I "L a tough speech'to a trade union conference, Mr Callaghan hinted the government was aiming for increases of around 5 per
      Reuter  -  61 words
    • Article
      Lock icon Trade revolution
      79 1 AP ZURICH, Frl. The world's post-war trading system will undergo fundamental changes If the Tokyo Round trade talks in Oeneva end in agreement, US trade negotiator Alonzo McDonald said today. He said the leading trading nations are trying to set up new permanent mechanisms providing for consultation, dispute
      AP  -  79 words
    • Article
      Lock icon Five new towns
      77 1 UPI MANILA, Fri. The Asian Development Bank has approved a US$l6.2 million loan to Malaysia to help finance the development of five new Malaysian towns to be built by the early 1980's. The project components for the Trengganu Tengah township development programme Include construction of roads, sewerage,
      UPI  -  77 words
    • Article
      Lock icon Japan may fish
      85 1 AP WELLINGTON. Prl. Jaoanese fishermen will be allowed to fish in New Zealand's 370-km economic zone alongside South Korea and the Soviet Union as a result of two-day talks which ended today between Prime Minister Robert Muldoon and Japanese Agriculture, Forestry and Fishery Minister Ichiro Nakagawa. Japan
      AP  -  85 words
    • Article
      Lock icon Dollar slips
      71 1 AP. TOKYO, Fri. The US dollar, under heavy trading pressure against the Japan— yn on the Tokyo foreign exchange, slipped one yen to close the weekend today 204.475 yen, down from yesterday's close of 205.475 yen. Dealers predicted the American currency, after the July 4 Independence Day holiday
      AP.  -  71 words
    • Article
      Lock icon Thai loan
      34 1 AFP. BANGKOK, Fri. The Industrial Finance Corporation of Thailand (IFCT) Is seeking a one billion baht (SSI 15 million) foreign currency fund to finance Industrial projects over the next two years. AFP
      AFP.  -  34 words
    • Article
      Lock icon Dow Jones
      46 1 AP. NEW YORK, Fri. The stock market opened mixed with gainers holding a slight lead over losers in the early tally of New York Stock Exchange-listed issues. But the Dow Jones Average of 30 industrials slipped 1.30 to 820.34 in the first half-hour. AP.
      AP.  -  46 words
  • Chief Price Changes
    • Article
      In Singapore yesterday
      131 1 Rises Most active Guinness 700 +80 +40 +35 +30 +23 Sine Darby 1.029,000 M Breweries 620 Haw Par 946,600 Bata 280 UOL 235.000 Roth mans 444 K L Keponc 168,000 Shell 275 Guthrie 162,000 Tronoh Mine* 650 +20 Total Turnover: 9.71 m BerjunUi 850 10 Total Value:
      131 words
    • Article, Illustration
      In Kuala Lumpur
      178 1 Rises Mos t active Outness 6 95 .80 S. Darby 1,058,000 Inch KK 5 50 .50 Haw Par 617,000 S. Trading 5 95 .3« Consplant 318.000 Rothmans 4 58 .20 F. Merlin 259.000 Shell 2.84 .24 Tronoh 6 60 20 Total Turnover: 6.40 m MMsec 3.80 +.18
      178 words
  • Article, Illustration
    US union gunning for Singapore
    897 1  -  TEXTILES SUBSIDISED' CHARGE byl John Tan THE LARGEST US textile and garment workers' union on Thursday said it has filed a complaint with the Treasury Department charging that the Singapore government is unfairly subsidising textile exports to America. If the Treasury determines that the union
    897 words
  • Article
    American banks lift primes
    207 1 SEVERAL of America's largest banks, including se-cond-ranked Citibank, yesterday raised their prime interest rates by point to 9 per cent, the highest level in nearly 3''i years. It was the fourth time in the past two months that the banking community in the US has raised
    207 words
  • Article
    ...Not a shred of truth!
    507 1  -  •y QUEK PICK LIM THE ACTWU action was received with mixed reaction by Industrialists, government officials and trade union officials contacted for their opinion. The secretary general of the NTUC, Mr Devan Nalr. told Business Times, "They (the ACTWU) are welcome to take this action
    507 words
  • Article
    Sin Chew posts unfilled
    275 1 SHAREHOLDERS were almost outnumbered by reporters at yesterday's annual meeting of Sin Chew Jit Poh, the controlling company of Singapore's largest-selling Chinese language newspaper. But those who failed to attend can take heart for they missed very little. After a lengthy reading of the minutes of
    275 words
  • Article
    Increase of half pc in CPF rate likely
    345 1 THE Government Is expected to announce an increase in Central Provident Fund contributions within the next few week* by to to to per cent. There bad been earlier expectation that an increase as nigh as 2 per cant would be flushed through
    345 words
  • Article
    Bulls toss index to 5-year high
    398 1  -  »r TOH THIAN SIR THE bull* continued to rampage through the stock market yesterday sending the Straits Times Industrial Index to another five-year high on a heavy turnover. Yesterday, the Index spurted 7.78 points ahead to close at 348.15 while the Business Times Index
    398 words
  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      24 1 i.vcn'tt Lines JAPAN Corpn. I/A I T«i fUsl/9 M. «mc* S»«*. Nw. Am J*/103 0 C BC 9mm Tki *****/J Nrf SOCSHI# CO §H0
      24 words
    • Advertisement
      Page 1 Advertisements Column 2
      20 1 Samson ite creates OMEGA *33 >f' f 'It'.'. 'I n i' y 'n 'i >'( -"T\ri' .ntf*ri U r Eastern Agencies
      20 words
    • Advertisement
      Page 1 Advertisements Column 3
      42 1 MM REGIONAL club to iwip a* MtlM MECOMB hm» Anu dmtgm ARABS iltw d»wi p«rt OLDop«uri gSodwood's SlAwft PxjlifljL rtCuK OriNti MEMOPAD S. CROSSWOBDB t, AIRCRAFT SCHEDULK I. TV ft RADIO i BRISTOW 7. STRAWS IN THE WIND 7. SHARK PRICKS It.
      42 words
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      Page 1 Advertisements Column 4
      250 1 SINGAPORE BUSINESS NEW NUMBERS The telephone number of Business Times editorial departments is now and the advertising department number is *****44 U- v. Indonesia and Malaysia Thailand and th 6 Philippines to the rescue The latest issue of the ASEAN Business Quarterly is full of interest for the businessman (or
      250 words
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  • TRADE AND INDUSTRY
    • Article, Illustration
      FOUR BANKS GO ON-LINE
      259 2 THE first few component units of the NCR Criterion 8560 computer system wore installed yesterday at the computer centre of Associated Data Processing at the Overseas Union House in Collyer Quay. ADP is the joint venture company of Asia Commercial Banking Corporation (ACBC), Far Eastern Bank
      259 words
    • Article
      Regional club to swop expertise on the cards
      470 2  -  ■y JOHN LIM CONSULTANT engineers in the Asia-Pacific region plan to form a regional cooperation club for the exchange and transfer of technology. Further, with this consolidation of technical expertise, engineers in the region may even venture into third countries and undertake
      470 words
    • Article
      Course on organisations
      41 2 THE department of extramural studies. University of Singapore will hold a 24lecture course on organisations and management from July 10. The lecturer will be Mr. Foo Kim Boon, a part-time lecturer at the university. The fee is $100.
      41 words
    • Article
      No more new insurance companies in Malaysia
      276 2 THE Malaysian government is freezing the registration of new insurance companies in a move to improve the business and viability of all existing companies. The secretary-general of the Finance Ministry, Tan Sri Dato Abdullah Ayob, said yesterday that the only applications that would
      276 words
    • Article
      MERITS AND DEMERITS
      732 2  -  •r RAHIM KASSIM THE MERIT and demerit schemes, recommended by the National Wages Council last year and this year for Incorporation In collective agreements, will come under close scrutiny at a seminar to be held on July 21 and 22 at the Hyatt Hotel. This Is the
      732 words
    • Article
      Behind Co-ops' success story
      291 2 THE RAPID growth of the National Trades Union Congress cooperative movement is due essentially to support from workers, an effective management and complete autonomy of operations. As a result, NTUC cooperatives have mushroomed all over the country, boosting paid-up capital and reserves to about $37 million.
      291 words
    • Article
      US firms seek agents
      96 2 FIVE US firms in telecommunications systems and ancillary equipment are seeking representation In Singapore. Of the 20 firms participating in the forthcoming communications equipment exhibition in Singapore, 11 are already represented here. The exhibition, organised by the US International Marketing Center, is scheduled for July 12
      96 words
    • Article, Illustration
      MECOMB CONVEYS MESSAGE ACROSS AT EXHIBITION
      438 2 MECHANICAL and Combustion Engineering (Mecomb), a newly-ac-quired subsidiary of Slme Darby, hopes to penetrate the Asean market quickly through Its parent's established network. In conjunction with the Conveyor Company of Australia. Mecomb will show Its unit load handling conveyors at the Materials Handling Equipment
      438 words
    • Article
      MEMO PAD
      467 2 COURSES AND TALKS May 8-Aug 17: Aust Insurance Institute Assoclateshlp Course, BITC, SITC June 5-July 29: Life Agents Certificate Course, SITC, SITC June 15-July 3: Employee relations communications, Hilton, POD July 6-13: Financial aspects of personnel mngt, Hilton, July 3-4: Finance for non-fi-nancial managers, Hilton, Price Waterhouse July
      467 words
  • Page 2 Advertisements
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      587 2 I 11-OR CBOSSWORD I CRYPTIC PUZZLE ACROBB 3 Cricketers' errors? (5) 8 Dangerous horse-soldiers (5) 10 Where to put a point on a crumpled horn? (5) 11 Oriental ringmaster? (3) 12 Villainous red. possibly (5) 13 Sandwich-man's position? (7) IS Some honest sailors' homes (5) IS Keep on a horse?
      587 words
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  • OVERSEAS
    • Article
      Lock icon Return of franc to Snake on Bremen agenda
      789 3 Reuter NEXT week's EEC summit at Bremen will examine the Unking of the French franc to the European Joint float and concerted Community action to reduce Inflation and boost growth, Luxembourg Finance Minister Jacques Poos said.. The French franc will probably be
      Reuter  -  789 words
    • Article
      Lock icon Mirror, mirror, Tokyo dearest of them all
      453 3 Reuter. TOKYO remains the most expensive city In the world and Oeneva and Zurich have overtaken Stockholm and Oslo as Western Europe's dearest cities, a business research organisation said. The private consultancy group; Business International, said in Geneva a survey of living costs
      Reuter.  -  453 words
    • Article
      Another year for wheat pact
      228 3 THE INTERNATIONAL Wheat Council ended its annual meeting on Thursday and said all conditions have been met by its 27-natlon members to extend the present 1971 International Wheat agreement for another year to June 30. 1979. The conditions are the assent by the council to
      228 words
    • WORLD IN BRIEF
      • Article
        Lock icon WOMEN STILL STAGNANT
        519 3 Agencies DESPITE increasing recognition of women's rights during recent years, a survey by the US Fortune magazine shows that females hold virtually the same percentage of top company jobs in America as they did five years ago. According to the survey released on Thursday, 10 of 6,400
        Agencies  -  519 words
    • Article
      Lock icon American MNCs' stake in the Philippines unveiled
      376 3 AFP AMERICAN corporations invested U***** million (***** million) is the Pkilityiui during the Period 1944-79 ud earned $3.98 for every dollar Laves ted, accordlag to a University of the Philippines (U.P.) Law Centre study. The UP study on transnational corporations (TNC) in the
      AFP  -  376 words
    • Article
      Mounting consumer debts unsettle Miller
      891 3 FEDERAL Reserve Board chairman William Miller has warned that the growing debt burdens of consumers could create problems for the US economy. While no serious difficulties have arisen so far, the debt trend bears watching, said Mr. Miller to the Joint Economic Committee of Congress
      891 words
    • Article, Illustration
      Lock icon No takeovers of firms says Zia
      432 3 Reuter, UPI. PAKISTAN'S military ruler General Zla-Ul Heq offered businessmen guarantees against state takeovers when he presented his first budget slnee seizing power last July. He also announced a long list of tax rises which he admitted could lose him popularity. "Our economy Is
      Reuter,; UPI.  -  432 words
    • Article
      Lock icon BUNDESBANK RAISES REDISCOUNT QUOTAS
      279 3 Reuter. THE Bundesbank said it Is raising banks' rediscount quotas by three billion marks (553.4 billion), effective today. The bank said that the decision, taken at its routine central council meeting on Thursday, will enable banks to cover their seasonal requirements for central bank money more
      Reuter.  -  279 words
    • Article, Illustration
      Lock icon Yes, Zambia is in need of $2.3b
      448 3 Reuter. A WORLD Bank consul- tatlve group on Zambia agreed that Zambia needs a total external resources flow of about US$l billion (552.3 billion) over the next three years. The group's chairman, Mr Willi Wapenhans, said, the group's meeting In Paris was not
      Reuter.  -  448 words
    • Article
      Lock icon Senate approves NY guarantees
      220 3 Reuter THE US Senate has approved US$l.5 billion (5J3.45 billion) in loan guarantees to help save New York from bankruptcy, bringing the city near the end of a long campaign to convince Congress it deserves help. The Senate agreed by 53 votes to 27 on Thursday
      Reuter  -  220 words
    • Article
      Lock icon BRAZIL YEN BOND
      120 3 Reuter. THE Brazilian government has signed a contract in Tokyo to float a 30 billion yen (Ss3oo million), 10-year, 6.5 per cent yen-deno-minated bond on the Japanese capital market next month. The bond will be issued through an underwriting syndicate of 37 firms, including five non-Japanese underwriters,
      Reuter.  -  120 words
    • Article
      Lock icon BRITAIN UPS LIMITS ON FOREX PAYMENTS
      217 3 Reuter. THE Bank of England has raised the limits on foreign currency payments by British firms and residents in a number of cases, including the payment of advertising and technical services fees incurred outside Britain. The changes apply to the categories in the bank's
      Reuter.  -  217 words
    • Article
      Lock icon Thousands fell for his sales talk
      135 3 UPI. ALLEN Goldschmldt, president of a New York commodity trading corporation, pleaded guilty on Thursday to charges that he fraudulently Induced thousands of Americans to invest millions of dollars In the London commodities market. Goldschmldt, 37, head of Crown Colony Options Ltd. admitted in
      UPI.  -  135 words
  • Page 3 Advertisements
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER
      486 4 OPENING prices »Mt*prt#v were marked down 2.50 cents in the Singapore rubber market on lower London advices and thereafter fluctuated on stoploss selling, short-covering and some upcountry liquidation. The market then rallied towards the morning close as sellers withdrew. The morning session closed lower, with July
      486 words
    • Article
      R.A.S. PRICES
      301 4 R.A.8. price* in cent* per kilo yesterday: Noon Close (per kilo) (per kilo) Int. 1 R.8.S. prompt f.o.b. Buyers Sellers Buyers Sellers 229.50 230.50N 230.00 231 OON Int. 1 R 8 8 July 230.00 230.50 230.75 231.00 Int. 1 R.8.8. August 230.00 230.50 230.50 230.75 Int. 2 R.8.8.
      301 words
    • Article
      SSR AND SMR
      97 4 NOON SSR and SMR prices yesterday. July Aucuat R.A.8. (Current Mtk) (Forward Mtk) Buywra Seller. Buv e ra Seller* (cent* par kg) (ea ■taper kf) SSR 20 (1-ton Pallet) 213.00 215.00N 214.00 216.OON SSR SO (1-ton Pallet) 211.00 213.00N 212.00 214.OON M.R.t.L.B. SMR5CV (1-ton Pallet) 230.00 238.00N
      97 words
    • Article
      Palm oil
      92 4 C.I.F. North European ports. In US dollars per ton unless otherwise stated LONDON: Thursday Previous Malaysian 5H fla bulk per tonne Aug unch 835 sir Sumatra 5* f fa bulk June unch 730 sir Jly 700 sir 997.SO sir August MS sir /MO 642* sir 542-j pd 530/MO
      92 words
    • Article
      Treasury bill results
      69 4 RESULTS of tender held on June 30 for 91-dav and 182-day bills: 91-day bills to 183-day bills be Issued from to be Issued July 3to7 on July 4 Offered: >25.000,000 *20,000,000 Applied for: $71,270,000 S54.000.000 Allotted: S2S.000.000 S20.000.000 AooopCod Mi: mil SM.29 approximately approximately t% higher 37%;
      69 words
    • Article
      Closing prices
      29 4 Rubber: June 30 Singapore: July 230.75 cnti (down 2.28 cents) Malaysia: July 235.2S cents {down 2.2S cents) Tta: Mi 1,710 (down W) Official offering: 255 tonnes (unchanged)
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    • Article
      Produce exchange
      316 4 WHILE prices of copra, coconut oil in old and new drums and coffee held steady on the Singapore produce market yesterday, pepper prices continued to ease. According to notional quotes given by the Singapore Chinese Produce Exchange, all grades of coffee were marked down by $2.50 per plcul.
      316 words
    • Article
      Hongkong comex
      202 4 THE sugar futures market closed 0.02 to 0.12 US cents lower in continued quiet trading yesterday, with 11 lots traded against Thursday's nine. Spot July expired and has no open positions, thus no physical delivery is expected. i ne Hongkong dally spot sugar price eased 0.05 to seven
      202 words
    • Article
      SPOT PRICES
      196 4 TAR* and cotton In Hongkong dollars, spot ex-godown Cot too Yara: Chin* Blue Phoenix JO's 1,715, 32-s 2.200, 40 s 2.280. (per tele of 400 I be). PtoeeCuts: China Butterfly and Qlobe Brand unq. Dragon Head unq. rive Lambs unq. Flower and Butterfly unq. Flying Oeeee unq. (per
      196 words
    • Article
      Coffee
      401 4 ROBUSTA futures yesterday morning opened steady and mostly unchanged to i'lo per tonne down irom Thursday night. Turnover was 120 lots Spot July lost £10 at a mid-price of £1,616 after an initial loss of £15. September ended the opening call unchanged. Dealers said values steadled in light dealings
      401 words
    • Article
      Wheat
      120 4 WHEAT futures in Chicago failed to retain earlier gains on Thursday, closing unchanged to* 3V» cents a bushel lower. Final prices were slightly above or at the day's lows. Trading activity was dominated by locals. Commercials were generally withdrawn from the market, though one firm late in the session
      120 words
    • Article
      Soybean
      113 4 SOYBEAN futures In Chicago closed with net gains of USI-tt to three cents a bushel In mostly quiet trade on Thursday. Prices fluctuated In a narrow eight-cent trading range. Local short-covering and commission house buying at the lows provided most of the upward momentum. Scattered commercial demand lent underlying
      113 words
    • Article
      Straits tin
      216 4 THE BTRAITB tin price In Penang yesterday dropped another MM to $1,710 per plcul on an unchanged official offering at 285 tonnes. In LONDON yesterday, tin closed the rlns down £62 for cash and £50 for three months standard while hi|h grade fell by £60 and The continued
      216 words
    • Article
      Sugar
      217 4 TERMINAL sugar yesterday morning was £0.35 to 10.65 per tonne easier at the first call In London. But the market then rallied slightly In open trading on sporadic weekend short-covering, partly Influenced by lower sterling. Dealers attributed the overall decline to prevailing bear sentiment coupled with lack of fresh
      217 words
    • Article
      Rice
      195 4 BANGKOK rice prices quoted as follows yesterday: (US dollars per tonne FOB bull RanrknkV While Rice: 100 pet Ist clui 437, 100 Kt 2nd class 423. 100 pet 3rd class 4 i?, Kt 408. 10 pet 390. 15 pet 382. 20 pet 377. 25 pet 307 35 pet unq
      195 words
    • Article
      Rubber loses initial gains
      426 4 AFTER ft good run-up of six cents at the start, levels this week peakecL but gradually declined to lose the gain, with fresh factors generally lacking and turnover less than of late. July RSB One advanced to a new high of 240.75 cents Gr kilo (S)
      426 words
    • Article
      Copper
      270 4 COPPER wlrebars In London finished the morning mostly £1.5 lower yesterday. Three months traded up to £709.5, but the advance was tempered by Duval's two-cents per lb price cut, steady sterling against the U8 dollar and the continued paucity of outside demand. Subsequent tired long liquidation pushed three months
      270 words
    • Article
      Cocoa
      182 4 TERMINAL cocoa yesterday finished the morning with gains In most position of £16.50 to £7.50 per tonne In London, although generally below the session's highs. Near July was £1 lower, however, in a differentials adjustment. Next Monday's first notice day for this position was a further factor, dealers said.
      182 words
    • Article
      Lead
      49 4 LEAD yesterday ended the morning £0.75 down for cash and £1.50 per tonne lower for three months In London. Values steadied on the pre-market and three months traded from £308 to £312 per tonne In thin dealings On Thursday afternoon, lead closed £6.25 per tonne down all round.
      49 words
    • Article
      Zinc
      61 4 ZINC was £0.50 per tonne higher all round at the end of the morning ring In London yesterday morning. Three months traded up to £309 on the pre-market, but eased back in the ring to £306.50 before final business at £307.50 per tonne. On Thursday afternoon, zinc closed £3.75
      61 words
    • Article
      Gold
      272 4 THE KILOBAR in Singapore opened at yesterday, $130.00 lower from Thursday's close. Prices eased further to a low of $13,722. The market later gained support to close at $13,747. Spot gold for London delivery opened at U*****.10/40 and eased to a low of $182.66/182.96. The market closed at $182.75/183.05.
      272 words
    • Article
      Silver
      268 4 THE HONOKONO market closed HK94.10 easier at $245.00 per 10 ounces in continued dull featureless trading yesterday. Turnover was estimated at 5,000 ounce*. The price was unchanged during the day, and was equivalent to 5.2717 U8 cents per ounce, higher than the overnight New York and Chicago July closing
      268 words
    • MONEY AND EXCHANGE$
      • Article
        Singapore market
        440 4 THE US dollar saw steady trading against most major international currencies on the foreign exchange mar. ket yesterday. Opening against the yen at 205.05/157^the dollar gained strength to close around 204.50/60 at noon. When London opened, the dollar lost some strength to reach 204.90/205.10, but closed the day
        440 words
      • Article
        Asian $ and CD rates
        190 4 Asian and CD rates ASIAN currency deposit interbank rate* as at close on June 30. US Doll OChr ■n(8pa() Bid 7 days 1 mth 2mths 3 mths 8 mths 9 mths 12 mths a 8 3/18 a 7/10 811/10 03/10 03/10 0S/10 8». Ph 77/8 81/18 83/18 88/18 01/10 01/10
        190 words
      • Article
        Discount
        46 4 RANOE OF prices ottei red by dlacount houaa on June 90. Ovemlgbt J%% Call deport t IK% r i 5 ell* m TreMury M1U3 Vie svie J-Month Bank Mil* W J-Month CD s via si/ie •-Monti) CD s vie s vie Source: National Discount Co
        46 words
      • Article
        MLR
        21 4 THE average rat* at which SfifipoN hanks are currently prepared to lead to their beat cuatoaMrs is 7 per cent.
        21 words
      • Article
        Euro $ rates
        102 4 Euro rates EURODOLLAR deposit rates yesterday traded steady around opening levels, though near term fixed dates hardened slightly on technical considerations. One month rose 3/16 to 83/10 8-1/16 per cent and two and three months gained 1/16 each on the loss of the Friday dealing technicality. Other period deposits were
        102 words
      • Article
        London
        221 4 THE FRENCH (ranc extended Its advance In yesterday's opening trading, moving to around 4.4750 mld-polnt against the dollar from 4.4900/50 overnight. Trading was comparatively thin after Thursday's hectic activity and dealers said the rate Is tending to settle around the 4.48 level after some profittaking. Most dealers were sceptical
        221 words
      • Article
        New York
        153 4 THE DOLLAR closed sharply lower against sterling and the French franc while losing marginally against other major currencies on Thursday. Both sterling and the French franc were aided by growing speculation of European currency realignment. Sterling ended nearly one cent up on the day at $1.8620/40 against the
        153 words
      • Article
        Tokyo
        148 4 THE US dollar for over night delivery closed lower at 204.50 yen yesterday, compared with a 205.20 opening and 205.45 at Thursday's close. Trading was active, with volume US$53O million. ine dollar slipped in active later trading as sales of dollar export bills by Japanese traders and manufacturers Increased
        148 words
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        Hongkong
        89 4 THE U8 dollar yesterday closed slightly lower than New York T s overnight levels in very quiet end-month trading conditions. 11 eased narrowly to 204.50/70 yen from New York's 205.10/25 close and from Its 204.95/ 205.05 opening, and marginally to 2.0745/55 marks compared with its 2.0755/05 clow in the
        89 words
      • Article
        Austraiia/NZ
        35 4 AU8TRALIA/NZ exchanges quoted on June 90. AUSTRALIA: US Holler 1.1480/1.1461 Surtax 0.6103/0.0122 usaSkr l ino US do&n 1.1441 MKW ZEALAND: Starting 0.6646/0.6610 us mKu- lJsn/i .Mrr burmf rml r sterling o 5706 USdoSar *****
        35 words
      • Article
        Zurich
        38 4 ZURICH exchanges closlnc quotes on June 2s 08 1.MW MM Stff 3.4442-4470 Can 1W4-MN Dm* m.im na do aw-in rti 41 .MS-MM syjsasL sssas ut 0 2107-2100 Aw Kb 12.4006-4166 Port «.H7S-M4fl Spain 2.3633-3662 Arg .23-33 YwlMMtM
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        Frankfurt
        32 4 FRANKFURT exchanges opening quotas on June 30. us *****/80 CM 1IMMI Stf 3.SM/M Dfl 92.64/M atriujfcM Ln 2.422/432 Ttt 4fl .1T/X7 Nkr 3TST/47 Bfr coo 4.343/363 Bfr fin 4.3S/»4 Yen *****/00
        32 words
  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      113 4 =3 nTTFi ACCOUNTANTS, AUDITORS, COMPANY SECRETARIES, MANAGERS, ADMINISTRATORS, BANKERS, STATISTICIANS. The fast growing industrial and commercial sectors of this region are constantly looking for professional men and women to fill such challenging and highly paid posts. Do you have the qualification to fulfil any of these roles? If not then
      113 words
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  • TRANSPORT
    • Article
      Arabs put brakes on overbuilding
      705 5  -  By CHAN BONG SOO AT THE rate the Arab nations are developing their sea and airports in recent years, they will have more facilities than their present and potential trade could justify. Many of the plans were conceived in the last four or five years
      705 words
    • Article
      Lock icon Choosing a partner for UK
      101 5 AFP. UK PRIME Minister James Callaghan said on Thursday that a debate on possible cooperation between the British aircraft industry and United States and Western European countries would be held in Parliament quite soon. Questioned in the Commons on his talks in Washington during the
      AFP.  -  101 words
    • Article
      Lock icon China Airlines may fly to Europe soon
      235 5 AFP. AP TAIWAN'S China Airlines has signed a commercial agreement with Cargo Lux and Lux Air (of Luxembourg). giving hopes of extending its service to Europe. Under the agreement. Cargo Lux and Lux Air may schedule up to three flights to Taipeh a
      AFP.; AP  -  235 words
    • Article, Illustration
      SHIPS IN PORT
      366 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Arcturus (1500 after Maboloeverett) 29/30 Akakura (after Straat Forcados) 3/4 Barge Intermac 315 (0900 alongside Tarantel) 38/39 Bunga Mas (1500 after Vlshva Abha) 18 Frotarlo (after Akakura) 3/4 Karlmata Radja (1500) 25/26 King Star (0600 after Golden HUI) 23 Martha Bakke (1900
      366 words
    • Article, Illustration
      Mosel Express joins sisters
      131 5 HAPAGr-LLOYD has added yet another vessel, Moeet Express, to its Trans-Pacific Service. With this latest launching, Ha pag-Lloyd can now provide a 10-weekly service from the Far East to the west coast of United States. The other three sister container vessels in the service are Alster
      131 words
    • Article
      PSA to conduct ship inspection course
      153 5 THE Port of Singapore Authority (PSA) will conduct a five-day courae on ship inspection from Aug. 14 to 18 at its Central Training School in Telok Blangah Road. PSA hopes to bring home to participants during the course the major hazards associated with work
      153 words
    • Article
      Houston takeoff signals new era for PanAm
      777 5 HOUSTON Is about to become a link in the round-the-world service of Pan American Airways. The new era will begin when PanAm s Flight 2, a> lumbo Jet of uncommon luxury, takes off today from Houston Intercontinental airport bound for London by way
      777 words
    • Article
      Lock icon Second best year for Lufthansa
      179 5 Reuter. IN ITS second most successful year, Lufthansa, West Germany's national airline, made 82.1 million marks (about Ss9l million) in 1977. Chairman Herbert Culmann addressing shareholders at the company's 25th annual general meeting, said the profit was made despite extraordinary losses recorded at the end
      Reuter.  -  179 words
    • Article
      Lock icon LONDON FREIGHT
      153 5 UPI. CHARTERING on Thursday remained quiet on the surface but ru/nours hinted at a degree of activity behind the scenes. West Asian imports generated most of the reported business. The 14,966 dwt Duteous was fixed at US$3,lOO (557.130) a day for a spot trip from Japan-Taiwan to the
      UPI.  -  153 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      673 5 ARRIVALS 8«t1m Local Operator Number 1 1 OLA GA981 0800 HLP MAS MH882A 0800 KUL THAI T0402 0605 BKK SIA SQ6 0615 BKK/HKO/OSA SIA SQ104 0615 KUL SIA SQ239 0845 MES 8IA SQ8 0000 HKQ/TPE/NRT SIA SQ202 0900 HLP SIA SQ456 0900 BWN MAS MH822 0920 PEN/(BKK)
      673 words
    • Article
      Lock icon Hambros 'no' will seal fate of owners
      245 5 Reuter. REPRESENTATIVES of Hambros Bank of London and the state-dominated Norwegian Guarantee Institute for ships and drilling vessels failed to reach an agreement after three months of negotiations on a re-scheduling of debts and writing off losses incurred by several major Norwegian shipowners.
      Reuter.  -  245 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      158 5 collecting Oriental Anticnej by Judith Moorhouse and Dries Blitz ra Hamlyn Group, London. Oriental antiques have always fascinated collectors throughout the world, evoking as they do the exotic and Inscrutable East, it is, however, widely believed that they are too expensive for the average collector. This myth Is perpetuated by
      158 words
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  • Article
    Bulls hold all the answers
    359 6 STOCK market Indicators often reflect the economy closely. Though they may not always act In tandem, It would be most unusual to find one Indicator moving In the opposite direction from the others over a long period. The rise of the stock market signals something
    359 words
  • Article
    Greatest gains
    265 6 Jeremiads are bound to appear as the stock market continues Its upward movement. This will become more frequent as more people see the opportunities once more opening up before them of profits to be made on the stock market. Though caution should never be thrown to the wind,
    265 words
  • Article, Illustration
    Lock icon Can world banking cushion another big blow?
    1246 6  -  Could another Herstatt disaster happen now? Otmar Emminger, president of the Bundesbank, who played a major role in handling the original crisis, says not. But few bankers agree with him. One of the effects of the Herstatt collapse, which led generally to tighter
    NYT  -  1,246 words
  • Article, Illustration
    Tax-holidays under a cloud
    1330 6  -  LETTER FROM AMERICA bv\ John Tan WASHINGTON D C. may be on the other side of the globe from Singapore but recently, few places In the world have been of as great a significance to the island republic as this lethargic Uttle town. The District of
    1,330 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      277 6 jf ■9H >»*«■ MM ti 4 2«T j$ H It K i Mil No dinner is complete without aWhite Label Another quality product froa 1(2^1,pi% Havelock Road 9'pore 3. Tel: *****1 ion bar presents TotoSHteKtos The Jackson 5 of Manila Don't miss the exciting sounds of Toto His Kids. This
      277 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      63 6 OUTLOOK for Singapore from 6 a.m. to noon today: Isolated showers in late morning. ing. Report for 24 hour* prior to 7.30 p.m. on June 30 at the airport: Maximum Temperature 31.8° C Associated Humidity 64 Minimum Temperature 22.6 C Associated Humidity Hours of Sunshine 7.60 Rainfall in Millimetres 23.6
      63 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      294 6 SINGAPORE 5 1.D5 PM Opening announcements followed by Sesame Street 0 2.05 Saturday Matinee Kentucky" Starring: Loretta Young, Richard Greene, Walter Brennan, Karen Morley 3.40 Police Surgeon A Taste Of The Sun (Last Episode) 0 4.00 Soccer Malaysia Cup '78 Singapore vs Kedah (Repeat) 0 5.00 Sandiwara Di Persimpangan (Repeat)
      294 words
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  • Article
    Lock icon HONGKONG'S EATING WHAT COMES NATURALLY
    620 7  -  MARKET PLACE 1 ■y W. WINFIELD MILLER UPI THE natural foods bui law in It slowly —Ml inroads la this heterogeneous city ms though many Asians am woat to tin ap thsir boss to the idea of sating brown rise or whole grain breads. Three
    UPI  -  620 words
  • Article, Illustration
    The Australian shopper opts for the open...
    984 7  -  MARKET PLACE 2 •y REX SCAMBARY W«ILE the smart set in Singapore abandons old street markets, rushing to the latest air-conditioned supermarkets, for hygienically packaged meats and vegetables or expenslve Imported delicatessen delicacies, many in the developed world are revolting against supermarket sterility
    984 words
  • Article
    STRAWS IN THE WIND
    668 7 EVEN Chinese noodles, dumplings and steamed breads have been automated now. A Hongkong communist Chinese newspaper, Ta Kung Pao, has reported that an average dumpling machine used in Peking restaurants can turn out more than 260 stuffed dumplings a minute, about 30 times more than can
    668 words
  • Article
    Little comfort in decline of trade deficit
    917 7  -  FOBUH. ...on America •r THOMAS MULLANEY Thomas Mullaney is a New York Times' economic writer. ANOTHER disappointing set of figures on Tuesday on the United States foreign trade deficit provided tittle comfort for those who believe that fluctuating currency values In the market,
    917 words
  • Page 7 Advertisements
    • Advertisement
      Page 7 Advertisements Column 1
      367 7 >- SB a Lunch TODAY «OKOH t 9 -e *r (g? 9 3 branches for your convenience: SINGAPORE OKOH Supreme House, Penang Road. Tel *****1 OKOH OF GINZA Hong Leong Bldg Raffles Quay. Tel 221 7781 KATSURA Orchid Inn. Dunearn Rd Tel 531 122 It's the toast of the town.
      367 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Page 7 Miscellaneous Column 1
      28 7 fcunooß v*\s it Tne/'ve r\ nbp roßNpi&eiZess RT Tut STpiTON SuFFeT UJONOeRS FoRTHe PLRCC SOUT Tione, suPPoseD it) Be R ReRL WHII7. KID UMTU Tne FPNIhiG PRNi TOO
      28 words
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  • INTERNATIONAL STOCKS MARKETS
    • Article
      Lock icon BULLISH AGAIN
      577 8 TOKYO Source: DBS Daiwa THE market yesterday continued bullish. Turnover was estimated at 410 million shares and reached the 400-mllllon-share level for the first time In a month, since the nuUor securities houses bought heavily at the end of this month. In the morning session, consumer-related Issues Including
      Source: DBS Daiwa  -  577 words
    • Article
      Lock icon Hongkong
      395 8 Source: SHK Sec. AFTER a pretty slow start similar to the previous 2 days, the market moved smartly ahead yesterday on Increased trade and aggressive local Investor buying of second line property shares such as SHK props. Cheung Kong, Sun Co, and New World. With little resistance the market
      Source: SHK Sec.  -  395 words
    • Article
      Sydney
      350 8 THE market yesterday closed the financial year mixed, with minings and oils tending firmer, dealers said. BHP was steady at $6.90 and CSR unchanged at $2.98, but banks tended firmer with the NSW rising two to six dollars and the National, five to $2.50 while the ANZ fell two
      350 words
    • Article
      Selected Indices
      60 8 FINANCIAL TIMES INDUSTRIALS H.K. HANG SENG Friday 556.88 Thursday 548 56 Week Ago 548 68 Week Ago 452.7 DOW JONES AVERAGE INDUSTRIALS Thursday 821.64 SYDNEY INDUSTRIALS Friday 422.07 Thursday 422 07 Wednesday 819.91 Week Ago 827.70 LONDON DOLLAR PREMIUM Thursday 112 W to 113 ALL ORDINARIES Friday 524.25
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    • Article
      Manila
      156 8 THE market yesterday closed higher across the board, although turnover fell to 8.82 million pesos. Atlas and Lepanto led mining Issues higher with gains of two points each, while Oriental rose two among oils. PLDT and Meralco gained two points each while other commercials were either unchanged or had
      156 words
    • Article
      Bangkok
      259 8 PRICES yesterday closed moderately higher across the board with the Book Club Index 0.31 of a point higher at 167.36 on a turnover of 81 million baht, dealers said. South Asia Fibre advanced one baht to 396. Duslt Thanl two to 328. Rama Towers one to 107 and Charoong
      259 words
    • Article
      Lock icon Standard Chartered
      83 8 Reuter STANDARD Chartered Bank Ltd posted pretax profit €126.15 million for year ended March 31 compared with €109.9 million previously. Earnings per share stood at 78.9 p compared into 69.9 p Final dividend was the maximum permitted at 11.6 PPretax profit Includes those of associated companies at C
      Reuter  -  83 words
    • Article
      Getty Oil search
      81 8 GETTY OH Co said It will look for potential resort and recreational Investments throughout the world. Getty said the search will be handled by its Minnehoma Development Inc subsidiary in conjunction with Golden Bear Inc of Palm Beach, Florida, a privately held enterprise of golfer Jack Nicklaus.
      81 words
    • Article
      European bourses close mixed
      454 8 EUROPEAN MARKETS MOST European bourses clossd mixed on Thursday. Paris, however closed higher on fairly active trading. The firmer tone was due to the strengthening of the franc, the fall In the call money rate to 7* per cent from 7% per cent and the cut
      454 words
    • Article
      Amsterdam
      218 8 JUNE FU ABN 364 00 ♦0.3 Ahold 106 00 unch Akio 28 70 +0.1 AMEV 80 SO unch Am fas 108 00 +3 Amrot Bank 78 30 +0.1 Bergoss 49.00 +0 9 Berk 93 00 -0.1 Boll 88 SO -1.5 BorsumlJ 180.80 unch Burhmann 72.80 -0.2 Byenkorf 90 00
      218 words
    • Article
      Paris
      274 8 JUNE 29 m IORBEILLE Air-Liquid* 291 4-3.5 B S N Gervals Danone 502 4-7 CS F (ThomsonCat) 254 4-3.5 Cte Francaise des Petroles 143 ♦a.i Compagnie Financiers Compagnie Generate 341 4| Credit Foncier De France 336.SO ♦2 6 Hachette i Libraine) 228 50 -5.5 Machines Bull 40 08 Michelln(B)
      274 words
    • Article
      Milan
      105 8 JUNE Lire Anlc 96 75 -0.25 Assoc On ***** 120 Baslogl 451 ♦2.5 Centrale 3880 15 Kiat 1787 +2 Flnsider 108 SO ♦•75 Gen Immob 7175 unch IFI Pn 2190 4 Iialcementl ***** -150 1 ml gas 582 ♦2 Itatslder 211 12 75 Magneti M Pf 500 I MarelllErc
      105 words
    • Article
      Frankfurt
      201 8 JUNE S> Dm Aef-Telefunken Akjo Alls Leben Alls Vers BASF Bay H T Wbank Bay Vbank Bayer BBC BMW CUNU* Chem Venr Commerxbank ConU Oumml Daimler-Bens Degussa Demag Deutsche Bank Dresdner Bank Dt Texaco Dyckerhof f ST A Enka Olanzs Oelsenberg OHH Hapag-Ltoyd Harpener Hoechst Hoeach Horten KaltSalz Karstadt
      201 words
    • Article
      Brussels
      91 8 JUNK Fr» forward market Acec 308 +S Arbed 2370 15 Astur 902 -8 Br&scan 472 unch Bru-Lamb 1490 +20 Canpac 540 unch Cock 458 unch De Beers 180 unch Ebes 2255 -5 Electrobel 6430 10 Gb-Inno-Bm 2170 ♦5 Gev 1300 -8 Hobok 2285 +30 Petro 3690 25 Ryl Dutch
      91 words
    • Article
      Zurich
      179 8 JUNE n Francs Actions 8ulsae* 265 Alusulsae Br 12S5 15 Alusulsse Ref 507 +5 Brown Bowl Br. 1640 ♦5 ClbaOeigyBr. 1116 +5 ClbaOelfy PC aeo urvch CtbaQetgy Ref Credit Suisse Br 593 -2 2160 -10 Credit Bullae Ret 406 -I BektrowattBr. 1760 20 Oeorge Fischer Br 600 10 Olo
      179 words
    • Article
      J'burg
      305 8 JUNE 2* Rand INDUSTRIALS A Alpha 124 unch Abercom 178 unch AE And CI 270 10 AMIC WO unch Barlows 395 unch Cg Sugar CNA 505 1758 unch unch Currte Finance 72 unch De Beers Ind 1050 unch Ed con Edgars 2825 -25 Eveready 175S Fed Vol* ieoB Fuflt
      305 words
    • Article
      Toronto
      190 8 JUNE n a Abiubi 12% A lean 30* urvch Algoma 20* Bank Mont 22* Bank Nova Scotia 20* Bell Tel 5JH Beth Corp BP Can Ltd 15* Brasean 15% Camp Re<l Lake 38*. Can Imp Bk 28 Vi Canpac 18* Canpac In* Pf 16B unch CarllngO Keefe 5 Comlnco
      190 words
    • Article
      Minor gains
      1110 8 NEW YORK BTOCKB made minor gains In dull trading that was limited by anticipation of the Independence Day holiday Analysts said the market's weak upside bias may have come from some shortcoverlng and last minute portfolio adjustments. However, they said trading was essentially trendless. with most traders unwilling
      1,110 words
    • Article
      CHICAGO BOARD OPTIONS
      1520 8 June 28 VOLUME on the Chicago Board Options Exchange ■lipped to 80,254 contracts from 89,669 on Wednesday. OPTION JLY OCT JAN STOCK Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel AUR AUR AUR Avon Avon-P Avon Avon-P Avon Avon-P Avon Avon-P Bank Am Bank Am Bank
      1,520 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      113 8 in PAN Paperback LECAttE C THE HONOURABLE SCHOOL' t i HIS LATEST #1 WORLD BESTSELLER 'THE PREMIER SPY NOVELIST OF HIS TIME PERHAPS OF ALL TIME n HI MIKKS KKKI.N r I- >; n irrt i > IT Vll\ .11 i "V rll lIIH'IIt I I' >PV U-, < in
      113 words
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  • INTERNATIONAL STOCKS MARKETS
    • Article
      Lock icon State prefers Alberta Gas takeover bid
      326 9 Reuter. PROVINCIAL Premier Alan Blakeney said with PetroCanada's withdrawal from a takeover bid of Husky Co Ltd, Saskatchewan would E refer Alberta Gas Trunk lne Co Ltd (AOTL) of Calgary to take It over rather than a US oil company. The province prefers the
      Reuter.  -  326 words
    • Article
      Lock icon Great West and Krupp move out
      147 9 Reuter VANCOUVER: Great West Steel Industries Ltd and Fried Krupp GMBH Krupp Industrie said they agreed to discontinue the present joint operation in GWS Krupp Industries Ltd of Edmonton, Alberta. »GWS said negotiations have been completed to sell its 50 per cent interest In
      Reuter  -  147 words
    • Article
      U. CARBIDE MOVE
      144 9 UNION Carbide Corp said It agreed to sell its New York V headquarters building to Manufacturers Hanover Trust Co for US$llO million, resulting in an after-tax gain of $49 million. The company said the gain will be credited tqr the company in the year when the headquarters
      144 words
    • Article
      Lock icon New IBM facilities
      83 9 Reuter. INTERNATIONAL Buslness Machines Corp. said It will build a development """'1 laboratory and manuV facturine plant In Charlotte. North Carolina. The large computer t manufacturer said the new facilities will consolidate certain development operations of Its system communications division and provide additional manufacturing capability to meet
      Reuter.  -  83 words
    • Article
      Lock icon Decline in loan rates help Toyo Kogyo
      144 9 AFP. THE JAPANESE Mazda carmaker Toyo Kogyo reported sharply Increased pre-tax profits in the half-year ended April 30 due to decline In loan Interest rates. According to Toyo Kogyo's interim financial statements, Its pre-tax profits In the half-year came to 0.18 billion yen
      AFP.  -  144 words
    • Article
      Lock icon Utah coal shipments move
      124 9 Reuter UTAH Development Co has declared force majeure on I coking coal shipments due to the current strike at Its •vfour Central Queensland ■"mines, a Utah spokesman said from Brisbane. Its last available coal Is now being loaded on a vessel for Japan at Gladstone. Coal
      Reuter  -  124 words
    • Article
      Lock icon Allis-Chalmers awakes from 10-year slumber
      730 9 r N.AMERICAN L NYT. ALLIS-CHALMERS may be awakening under a new management after 10 years In the doldrums. Mr. David Scott, formerly executive vice-president of Colt Industries, and a team of managers have dropped Allls-Chalmers's unprofitable businesses, including the manufacture of powergenerating equipment and construction
      NYT.  -  730 words
    • Article
      Premier Cablevision explains
      150 9 PREMIER C&blevlslon said the Toronto Stock Exchange Incorrectly and improperly reported that the company was omitting a dividend payable in May, and also incorrectly stated that the omission was due to antl-lnflatlon board rulings. Mr. Stuart H. Wallace, president of Premier, said: "No dividend was payable In
      150 words
    • Article
      Berkey Photo to get only US$27m
      263 9 THE U5537.6 million damages which a Jury awarded Berkey Photo in a protracted anti-trust suit against the world's leading photographic products producer, Eastman Kodak, has been reduced to $27.1 million by the judge in the case. Kodak has Indicated that It Intends to appeal
      263 words
    • Article
      Asahi plans revamp
      420 9 r i ASIAN THE FIRST radical management reconstruction of a Japanese insurance company since the war is to be undertaken by Asahl Fire and Marine Insurance. Steps to be taken Include replacement of Its top management team. Merger with a larger Insurance company Is also possible. The
      420 words
    • Article
      Lock icon Paul Y profits
      263 9 Reuter. PAUL Y Construction Co Ltd of HK posted consolidated net profits of HK9I6-2 million (S*B million) for the year ending March 31 compared with $23.2 million a year ago. Final dividend was 10.5 cents (same) making a total of 13 cent compared with the previous 14.5
      Reuter.  -  263 words
    • Article
      Heinz figures
      90 9 H.J. HEINZ Co announced fourth quarter net profit for the year ended May 3 of US$3O million compared with $31.3 million previously, on sales of $614.9 million against $526.5 million previously. Net profit for the full year came to $992 million against $83.8 million previously, on sales of
      90 words
    • Article
      Oil pact by Du Pont
      65 9 DU Pont Co said It and Continental Oil Co signed a previously-announced formal agreement establishing a partnership in oil ana natural gas exploration In Texas. The partnership will cover a US$l3O million expenditure for exploration over a five-year period. It will be owned two-thirds by
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    • BONDS & LOANS
      • Article
        Lock icon Argentine offering
        81 9 Reuter. BANCO de la Naclon Argentina is to offer US$3O million of five-year floating rate notes In the Eurobond market, joint lead manager European Banking Co Ltd said. The issue will be at par and carry a minimum coupon on 8 per cent with a per cent margin
        Reuter.  -  81 words
      • Article
        Lock icon Norway notes
        62 9 Reuter. A SYNDICATE headed by Merrill Lynch, Pierce, Fenlder and Smith Inc said It tentatively priced an offering of Norway notes, due 1983, at 99.00 with an 8* per cent coupon to yield 8.85 per cent. The underwriters also reported the amount of the triple-A rated offering has
        Reuter.  -  62 words
      • Article
        Lock icon UNION BANK SUCCESS
        60 9 Reuter. UNION Bank of Switzerland's 100 million franc 3.5 per cent 10-year loan floated at par on the Swiss capital market was considerably oversubscribed, the bank said. Similarly a Swiss Bank Corp 100 million franc 3.5 per cent 10-year loan floated by Swiss Bank Corp at par
        Reuter.  -  60 words
      • Article
        Lock icon EIB loan
        49 9 Reuter. THE European Investment Bank (EIB) is raising US$lOO million through a 15-year, 9-K per cent Eurobond priced at 99.5 per cent, a spokesman for lead manager Ste Generale said. The average life will be reduced to 10-*4 years by the operation of a sinking fund. Reuter.
        Reuter.  -  49 words
      • Article
        L'Afrique issue
        53 9 PARIS: La Banque Internationale Pour L'Afrique Occldentale is planning a US$2O million five year Issue with a floating rate 1/4 of a percentage point above London interbank offered rates, informed banking sources said. The Issue Is leadmanaged by Banque Natlonale de Paris and has a minimum coupon of
        53 words
      • Article
        Mexico bank
        56 9 MONTREAL: Bank of Montreal said It signed a US$7OO million consortium loan to Banco Naclonal de Comerclo Exterior S.A. of Mexico. The bank said 127 banks are participating in the loan, proceeds of which are expected to finance foreign trade activities of the Mexican public and private sectors.
        56 words
      • Article
        Placement by Swan
        64 9 SWAN Brewery Co Ltd said it will make private placements of AslB million of debenture stock to replace facilities arranged in 1075 in connection with its new brewery project. It will offer 10.2 per cent four years -stock and 10.4 per cent six year stock at par.
        64 words
      • Article
        Lock icon Ljubljanska Banka issue
        42 9 Reuter. LJUBLJANSKA Banka'S US$3O million 7.75 per cent minimum seven-year floating rate bond issue which carries a one point spread over London Interbank offered rates, has been priced at par, a spokesman for Joint lead manager Bte Generate said.
        Reuter.  -  42 words
      • Article
        H. Quebec
        31 9 LONDON: Hydro Quebec's UBSSO million 15 year debenture issue was priced at 99.5 per cent with a 9.5 per cent coupon, lead manager S.O. Warburg and Co Ltd said.
        31 words
    • Article
      Lock icon Capper Pass dispute
      87 9 Reuter A PROPOSAL aimed at settlement of the industrial dispute st UK tin smelter Capper Pass will be put te a of Um company's branch of the Transport and General Workers Union en Monday. This follows meetings between management and the union. The management of Capper Pass
      Reuter  -  87 words
    • Article
      Fertiliser facility shutdown plans
      229 9 DUTCH fertiliser group. Unle van Kunstmestfabrleken (UKF), plans to shut down plant in Holland with a capacity of 100,000 tonnes of nitrate fertilisers. UKF. which is a subsidiary of the DSM Chemicals Group, announced In April &US$46 million plan to exGnd its fertiliser plant at ce
      229 words
    • Article
      Lock icon Alfa covers losses
      174 9 Reuter. ALFA ROMEO SPA plans to reduce capital to 52.5 billion lire from 150.5 billion by reducing the nominal value of Its shares, to cover last year's losses of 98.4 billion lire. The loss includes 48.7 billion lire for the devaluation of the firm's participation in Alfa
      Reuter.  -  174 words
    • Article
      Lock icon Repercussions on Renault
      332 9 r EUROPEAN Reuter. PARIS: The sharp reduction In Regie National des Usines Renault's net 1977 profit to 12.1 million francs from 610.7 million the previous year reflects the state company's agreement with the government to hold price Increases to 5.5 per cent, chairman Bernard Vemler-Palliez said In
      Reuter.  -  332 words
    • Article
      Trust Houses earnings up
      185 9 TRUST Houses Forte Ltd announced pretax profit of £12.2 million (£10.4 million) for the half year ended April 30 on sales of £270.1 million (£237.3 million). Interim dividend came to 2.85p (2.25p). Pretax includes profits less losses on sales of fixed assets and Investments nil (£4.1
      185 words
    • Article
      Bat's cautious optimism
      174 9 BAT Industries Ltd said operating profit for the year ending Sept 30, 1979 Is expected to show a small increase on the £416 million achieved In 1977/ 78. The company said sales of tobacco products are expected to increase in the second half of the year at
      174 words
    • Article
      Lock icon Guthrie joint venture with UAE firm
      210 9 Reuter. THE GUTHRIE Corp Ltd agreed with A.R.E. Galadari and Brothers of Dubai to set up an Import and distribution network In the United Arab Emirates with annual projected turnover of at least US$lO million by 1980, business development manager of Guthrie (International Trading)
      Reuter.  -  210 words
    • Article
      Lock icon Indosuez
      52 9 Reuter BANQUE de l'lndochlne et de Suez confirmed it will issue US$3O million of seven-year floating rate notes. Interest on the notes, to be issued at par, will be payable half yearly at an annual rate equal tb 1/4 per cent above London Interbank offered rates for US dollar
      Reuter  -  52 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      179 9 ONE GOOD PUBLICATION THAT'S worth a thousand watts ma A f m We hope to welcome you soon as a regular reader. Rate: SlO for subscribers in Singapore and Malaysia. Sl3 for overseas subscribers. Sent your coupon to: The Circulation Department Times Periodicals Pte Ltd. 422 Thomson Road. Singapore 1
      179 words
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  • DEALS DONE ON THE SES AND KLSE
    • Article
      In Singapore
      1586 10 BID VP* offer prices officially listed and tub ir. in and reported to the 3 lock Exchange of Singapore jr esterdaorith the number of shares traded shdM In brackets in lots of 1.000 units Mess otherwise specified. Alt 'Rmt Settlement Contracts are quoted after the world "sett." Bif
      1,586 words
    • Article
      Government corporate bonds
      306 10 4 3/4% 15/9/80 (250,000) (100 458) T P 11/4/81 (250,000) (105 008) 5% 18/4/81 (250,000) (100.688 100.758) 7% 13/4/8# (250,000) (100.908 101.058) 7 1/4% 18/4/86 (250.000) (100.SOB) 7 1/4% 18/16/86 250,000) (100.75B) 7 1/4% 1/8/87 (250,000) (100.75B) 5 1/2% T P 18/VB7 250,000) (100.458 100.608) 6 1/4%
      306 words
  • Article
    SHARE INFORMATION SERVICE
    2508 10 1*78 High Low Company Last Sale +orGr'« Div Div C'vr Gr'» Y'W Nat P/E Vol cow Day H%h Low SECTION ONE 0 INDUSTRIALS 217 214 172 *60 268 210*. 478 444 132 123* 112 195* 60W 162 .173* 140* 256 394 Acma Alcom Allied Choc Bata Ben
    2,508 words
  • Article
    Unit trusts
    139 10 ASIA UNITTRLJ8T INCOME BOND UNIT The Commerce The Saving Fund 2.11 2.24 1.31 1.39 (unw m INCOME BOND rtsaa) 1.07 1.12 S pore Prof Fund 8 pore Security Fund 1.09 1.11 l.M 2 0® MARA BLMIPUTRA FUND (Msasfi' prion for My 3 S pore Invest Fund 1.27 1.35xd
    139 words
  • Article
    In Kuala Lumpur
    1863 10 BID and otter prices 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 spe clfled. INDUSTRIALS Acma (2.108 2.128) XO. Ajmamato <2608) Alaam 12.258 2 3uS> <21
    1,863 words
  • Article, Illustration
    Bulls keep prices on the uptrend
    657 10 BULLS charged into the Stock Ezchu|« of Singapore yesterday at the openiaf hall, hurling several leading stocks to now high*. The current blue-eyed boy of the market, Sime Darby, brtmti through the ■Mining's trading to peak at a aew high of 62.68 before preflt-tahers
    657 words
  • Article
    Mixed trading on KLSE
    641 10 PRICES were mixed in another fairly active session at the Kuala Lumpur stock market. Trading however, was erratic. Although blue chips and plantation stocks again accounted for the bulk of business, fresh counters were brought Into focus with impressive gains attendant yesterday. The most notable was
    641 words
  • LATEST RESULTS
    • Article
      United Malacca Rubber Estates Bhd:
      53 10 Group pre- tax profit of $4-39 minion ($5.89 million) for year ended April 30. 1978. Company pre-tax profit of $4.19 million ($5.58 million) for year ended April 30 1978. Final dirklend of it emu (18 cents) per SI stock unit making 20 centa (M cants)
      53 words
    • Article
      Hongkong Tin Ltd.:
      15 10 Loss of $97,444 (lon $127,034) for half year ended March 31, 1978.
      15 words
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  • COMPANY NEWS
    • Article
      Business is fine at Goodwood
      507 11  -  •y MANO SABNANI THE Goodwood Park group continued to reduce its dependence on dealing gains and turned in reasonable profits from Its main business of running hotels in the first half-year ended March 31, 1978. In fact, group earnings from hotel operations amounted to $2.30
      507 words
    • Article
      Setron record sales
      676 11  -  »y FONG MEW LENG THE chairman of the Setron group of companies, Mr. Wee Cho Yaw, has refrained from any comment on the prospects of the group in the near future in his annual report for 1977. The group has managed to chalk up record sales of
      676 words
    • Article
      DIVIDENDS ANNOUNCED
      523 11 Current payment Ex Date Books cloee Date payable Total for the year Total for previous year Bouiteadco Hon( Leon WnrM* Pah Yung P'NT* T H.GUfllUn S'pore Merlin Emo (Pref.) Emo <Ord.) UOL Chin Teck Batu Kawan Duff Dev. PMRl Nat Iron Loan M. Feed mi 11* Acma CCM
      523 words
    • Article
      SCRIP ISSUES
      193 11 Company Particulars Ex Date Books Close Oriental Holding* Bonus Issue of 1 for 2 Jul 7 Jul 19 Wilkinson Bonus Issue of 1 for 4 Jul 7 Jul 19 U.M. Flour Bonus Issue of 1 for 3 Jul 11 Jul 21 Great Eastern Life Bonus Issue of 1
      193 words
    • Article
      Central Securities ordered to pay $4.18m
      253 11 Mr Justice Ha run Hashlm has ordered Central Securities (Holdings) Berh&d to pay $4,186,224 to Johore businessman Hajl Haron bin Mohamed Zald for falling to deliver properly over half a million shares to him. The Judge also ordered Central Securities to pay interest of
      253 words
    • Article
      Sime Darby's Guthrie Holdings
      77 11 IN REPLY to a Stock Exchange of Singapore query, Sime Darby yesterday said that It holds 4.9 per cent of the ordinary capital of Guthrie Corporation Ltd. These purchases were made in the market in the last six months and Sime has no present Intention of
      77 words
    • Article
      Devon Processing
      59 11 THE Board of Kempas (Malaya) announced that Devon Processing, a wholly owned subsidiary of Kempas. has gone Into voluntary liquidation on June 15, 1978. As a result, the assets and liabilities of Devon have passed to Kempas. The company said the 11?uldatlon of Devon was a urther step
      59 words
    • Article
      COMPANY MEETINGS
      101 11 Associated Plastic* Ind us trigs Bhd: AOM to be held at Blllk Kula Rajah, 10th Floor, Jaya Purl, Jalan Barat. Petallng Jaya at 12 noon on July 3. Wilkinson Process Rubber Co. Bhd: AOM to be held at 70, Jalan Ampang, Kuala Lumpur, at 2.30 p.m. -on July
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    • Article
      TEXTILE FIRMS HOPEFUL
      813 11  -  ly LOW LEE CHOO DESPITE last year's depressed textile market which wove different fortunes for Malaysia Weaving Enterprise and Talplng Textiles, both companies hope to perform much better this year. For Malaysia Weaving Enterprise which suffered a sharp 80 per cent plunge In group pre-tax profit to
      813 words
    • Article, Illustration
      Forex helps Esso reverse slide
      1035 11  -  »y DAVID CHOW GAINS from foreign exchange were the principal factor which reversed the profit slide at Esso Malaysia during Its financial year to last Dec. 31. These gains, amounting to more than $5.4 million before tax, pertain to Its remittances for Imported raw materials.
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  • Article, Illustration
    MINISTER OF STATE MOVES UP
    150 12 SENIOR Minister of State (Communications), Mr. Ong Teng Cheong (above) has been promoted to Minister for Communications. Mr. Llm Kim San, Minister for National Development and Communications, will relinquish his responsibilities in the Communications Ministry. in addition to his new duties, Mr. Ong, 42, will
    150 words
  • Article
    Hitachi project may top $115m
    638 12  -  EDB SIGNS OVER LAND TODAY ■y RONNIE LIM THE Hitachi colour TV tube plant to be built in Singapore Is now estimated to bring In investments worth $115 million. Building and civil works will account for $15 million of this amount, while plant and machinery
    638 words
  • Article
    SIA winging across the Orient and Pacific
    294 12 SINGAPORE Airlines is poised for a rapid expansion of services in the Orient and across the Pacific to the West Coast of the United States. SIA said the Pacific Basin has experienced doubledigit traffic growth in the last five years and it expects
    294 words
  • Article
    Lock icon Welcome to the club
    167 12 Reuter. FOR the first time since Lloyds of London the world's leading Insurance community started business 300 years ago, a firm of American brokers gained access to what until Thursday had been an exclusively British club. The third biggest Insurance brokers in The United States, Frank
    Reuter.  -  167 words
  • Article
    YARD GETS LOAN
    129 12 A 124-million consortium loan to Hitachi Zosen Robin Dockyard wai signed in Singapore this week. The seven-year loan carrying a rate of V/i per cent above the London interbunk offered rate (Libor) was lead-managed by the Singapore branch of the Bank of Tokyo. The 524 million loan
    129 words
  • Article
    Choudhury's guilty plea to 104 charges
    694 12 THE FORMER chairman of Ben and Company. Go pal Chandra Kar Choudhury, yesterday pleaded guilty to 104 out of the 112 charges against him under the Companies Act. Choudhury, 53, admitted in a district court to charges of falling to Inform the Stock Exchange
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  • Article
    LONDON STOCKS
    790 12 LONDON, Frl Share prices closed quietly firm reflecting hopes of a relaxation of dividend controls, dealers said. At 3 p.m., the Financial Times index was up 3.2 at 4<0.5. Government stocks closed off the top following news of increased prime rates from US hanlcs. Gains in longs ranged
    790 words
  • Article
    Filling supertankers
    157 12 THE SEMI-Offlclai Japan National OH Corporation said It is preparing to Invite tenders for a government plan to stockpile five million tonnes of crude oil in 20 idle supertankers in the current fiscal year. Under a law passed this month, the corporation Is authorised to stockpile 10 million
    157 words
  • Article
    Lock icon 'YES' TO OVERSEAS TAX BREAKS
    135 12 Reuter A US House of Representatives subcommittee approved on Thursday legislation to gMre. some 150,000 Americans working overseas U8 tax reductions to offset the higher cost of living. The panel sent the measure to 1U parent ways and means committee, which must act on the
    Reuter  -  135 words
  • Article
    ABS 'yes' to publicising minimum lending rates
    331 12 By QUEK PICK LIM THE Association of Banks in Singapore (ABS) has indicated its willingMM to publicise minimum lending rates. Replying to point* raised by Mr Michael Wong Pakshong, managing director of tbe Monetary Authority of Singapore, the ABS said it welcomed the
    331 words
  • Article
    Making way for higher value firms
    772 12 THE GOVERNMENT yesterday Indicated that certain lower value activities will have to move out of Singapore to make way for higher value industries. Speaking at the annual dinner of the Singapore Manufacturers Association, Mr. Ooh Chok Tons, Senior Minister of State (Finance) said: "The
    772 words
  • Article
    Need for more funds
    418 12 LOCAL industries are finding It increasingly difficult to fund their expansion programmes and they are looking to the Government for more help. This Is the Indication given by the chairman of the Singapore Manufacturers Association Mr. Michael Yeo, at Its annual dinner last night. Saying that
    418 words
  • Page 12 Advertisements
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      Page 12 Advertisements Column 1
      115 12 Now UTA introduces the super-convenient GATEWAY TO EUROPE fit SM I s < X I TO AFRICA m (I i The new UT567 leaves every Saturday at 18.35 from Singapore for Paris. One of the fastest and most convenient ways to the Gateway of Europe, UT567 stops only at Colombo
      115 words