The Business Times, 8 July 1978

Microfilm: NL9760
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) No. 218/1/78 SATURDAY, JULY 8, 1978 SOCENTS
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  • BRIEFLY...
    • Article
      Lock icon Aussie deficit
      64 1 Reuter CANBERRA, Fri. Australia posted a 50 per cent higher budget deficit of A 53.3 billion (518.5 billion) In the last financial year. Treasurer John Howard said that the deficit, which increased by $1.1 billion over the budget estimate in August 1977, was mainly caused by a short-fall
      Reuter  -  64 words
    • Article
      Lock icon Scrapping proposals
      82 1 Reuter TOKYO, Fri. The Japan Structural Reform Council on Shipbuilding, an advisory body of the Transport Ministry, is expected to make recommendations early next week for reorganisation of the industry to overcome the serious slump. The recommendations are expected to contain proposals calling for scrapping overall about 35
      Reuter  -  82 words
    • Article
      Lock icon Russia backs Asean
      93 1 AFP BANGKOK, Fri. The Soviet JJnlon has given Its support to Asean's peace zone policy In a bulletin released by the Soviet embassy In Bangkok. The Soviet Union and Vietnam have radically changed their attitude to Asean. The bulletin commented: "Asean has become a reality to be
      AFP  -  93 words
    • Article
      Lock icon Charge baseless
      69 1 Reuter BANGKOK, Frl. Deputy Commerce Minister Prok Amaranda today described as "baseless" a charge by the United States Amalgamated Clothing and Textiles Workers Union that Thailand was illegally subsidising its textile exports to the US. Mr Prok said that Thailand's trade policies had always been in line with
      Reuter  -  69 words
    • Article
      Lock icon Euro-yen bond
      65 1 Reuter TOKYO, Frl. The Asian Development Bank has applied to the Finance Ministry for permission to make a 15 billion yen (Sslso million), 10year Euro-yen bond Issue In August or September, Ministry officials said. The officials said the ministry must study the issue's foreign exchange market and capital
      Reuter  -  65 words
    • Article
      Lock icon Murtopo in hospital
      69 1 Reuter KUALA LUMPUR, Fri. Indonesia's Information Minister Lieutenant-General All Murtopo today suffered a heart attack and was admitted to the intensive care unit of a hospital here, hospital sources said. General Murtopo, 54, suffered the heart attack early this morning In his hotel room. He had come
      Reuter  -  69 words
    • Article
      Lock icon Dow Jones
      62 1 UPI NEW YORK, Frl. Stock prices were higher In moderately active trading early today with the aid of some bright news on the country's unemployment front. Some bargain hunting also was apparent. The Dow Jones industrial average was up 2.60 to 809.76 shortly before 11 a.m. Advances led
      UPI  -  62 words
  • Chief Price Changes
    • Article
      In Singapore yesterday
      126 1 Rises Most active Set Cocoauta Straits Trading Berjaya Kawat Rothman* Acma Pan Electric Hon( Leon* Kemayan Batu Km wan Harimau 336 580 264 464 226 209 280 210 200 92 +24 +20 19 10 10 +8 +7 +7 +7 +6V4 Haw Par 952,000 Pan Electric 927,000 Sime
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    • Article, Illustration
      In Kuala Lumpur
      172 1 Rises Sel Cauta 3 42 .18 Most active Oriental 4.14 .18 S. Darby 2,097,000 Bbwit 2.72 .16 Haw Par 691,000 Carlberg 5.65 .15 Cons plant 472,000 Chin Teck 2.50 +.10 Sim Llm 448,000 Jeram M Cement 2.60 2 92 +.10 10 Total Turnover: 0.40 m Tronoh 6.70
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  • Article
    Malaysia homes in on 7pc target
    1011 1  -  FAIR EXPORT PERFORMANCE By HENRY CHANG in Kuala Lumpur WITH half the year gone, indications are that the Malaysian economy will live up to expectations despite a worsening of the world economic outlook since the budget was drawn up. According to sources, the 7.1
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  • Article
    Sharp fall in US jobless
    221 1 THE US unemployment rate dropped sharply from 6.1 per cent to 5.7 per cent of the workforce In June, the lowest rate in nearly four years, the Labour Department said yesterday. The 5.7 per cent Jobless rate last month marked the first time that unemployment
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  • Article
    Hitachi shifts more ops out of Japan
    612 1  -  ■y RONNIE LIM THE Hitachi group In Japan will be shifting more of Its production overseas to combat the appreciation of the yen and import restrictions on Japanese goods Imposed by the US and various European countries. This increasing "Inter nationallsation" of the
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  • Article
    EEC action plan
    117 1 COMMON market leaders yesterday ended a two-day meeting aimed at Improving the world economy and preparing for next week's Bonn summit The nine leaders said they approved a Joint programme to Improve the world economy by fighting Inflation, stabilising currencies, expanding trade, reducing energy dependence, eliminating regional
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  • Article
    Response to UOF will match SBS success
    253 1 FROM all indication!, the fourth new share listing of the year. United Overseas Finance, will be heavily oversubscribed. The five million UOF shares are offered at a premium of 50 cents above the $1 par. According to a spokesman M Jardine Fleming, one
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  • Article
    US trends on Asean agenda
    354 1  -  •y JOHN TAN in Washington AN IMPORTANT Item on the agenda of the Asean-US dialogue, to be held next month In Washington, will be the recent trends In the US which could threaten economic relations between the two sides. The talks, on Aug 3 and
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  • Article
    FNBC steps up activities here
    150 1 FIRST National Bank of Chicago will step up its merchant banking activities in Singapore as a result of a world-wide reorganisation of its investment banking operations. First Chicago Asia Merchant Bank a Singapore Joint venture between the bank and Ong and Co. plans to introduce
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      3 1 l:\vrcff I mil's
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    • Advertisement
      Page 1 Advertisements Column 2
      93 1 JftTiMENUGWIE "R> BWWEST. Chances are that at Pan-West we have just the right equipment to hefc improve your game At Pan-West we stock the finest range of top quality golfing equpment Confidence, Honma, Lynx to name a few. Drop in on us and browse around Take a few practice swings
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    • Advertisement
      Page 1 Advertisements Column 3
      55 1 mm DCA's JTC allocates record number o bctary buildtap PEOPLE in businiiss ELECTRONIC trading Cincinnati BWck Exchange •parks antoowiy LETTER from Ainfki! 11m BUKIT Sembawang waits for Mimosa Part to bloom UNITED Fnginoors looks to MULTI-million export fraud BANK ot China branch will go capitalist MEMOPAD 2, CBOSBWORDB 2, AISCR.
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      Page 1 Advertisements Column 4
      6 1 Leader. Page 6 SEE PAGE 3
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    • Advertisement
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      232 1 Hapag-Lloyd Fully containerised to Europe and United States. Regular, reliable and on time. Is Indonesia's OH Boom Over? The latest issue of the ASEAN Business Quarterly is full of interest for the businessman (or woman) who wishes to understand, in easy-to-read language, the realities of the ASEAN economies in relation
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  • TRADE AND INDUSTRY
    • Article
      It's a little too late for Barclays to bank on KL
      400 2 BARCLAYS Bank International's chief executive said the bank Is a little late In moving into Kuala Lumpur as Malaysian Authorities now feel the banking sector Is already well represented. The bank's chief, Mr. F.R. Dolling was Impressed by Malaysia's
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    • Article
      Lock icon Vietnam ready to talk on oil concession
      288 2 AFP UPI VIETNAM is ready to negotiate with Mobil OH of the United States and Japan's Kalyo OH on their Joint project to develop an offshore oil concession In Vietnam. Kyodo news service, reporting this yesterday, said that visiting Vietnamese Vice-Foreign Minister Phan
      AFP; UPI  -  288 words
    • Article, Illustration
      Record number of factories allocated
      849 2  -  $1.2 m JTC OPERATIONAL SURPLUS By FONG MEW LENG SINGAPORE'S industrial climate last year was favourable with investors flowing in to take up a record number of factory buildings. This year promises to be Just as good although the projected number of takers Is slightly
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    • Article
      Airlines form panel to resist DCA's move
      477 2  -  By SIVA ARASU THE Department of Civil Aviation (DCA) has informed airlines In Singapore that It will go ahead with Its plans to have them collect the passenger service charge when issuing tickets locally. Airlines, however, are resisting the move. They maintained that
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    • Article
      GOOD SHOW, GOOD SALES
      93 2 SOME $800,000 worth of sales are now under negotiation as a result of the three-day Australian material-handling equipment display which ended on Thursday. "Considering the special audience the display caters to. the response has been good," said Australian Trade Commissioner J.H. Hemphill. "Several agencies should also
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    • Article, Illustration
      PEOPLE IN BUSINESS
      307 2 THE American International Assurance Co Ltd has appointed Mr. Timothy C. M. Chia as assistant vice president (Investment), a Hongkong assignment. The appointment takes effect on July 1. A graduate from Falrlelgh Dickinson University, New Jersey, USA. Mr. Chla spent two years with American ExEress International Banking
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    • Article
      Lock icon Timber mission
      84 2 Reuter A MALAYSIAN timber trade mission will visit JaJian In September to tie up olnt venture arrangements with Japanese partners for timber-based Industries in Malaysia, a Malaysian Timber Industryßoard spokesman said. The mission will also survey new market possibilities and establish stronger business contacts with buyers. Importers, traders
      Reuter  -  84 words
    • Article
      Lock icon Doubling of trade
      60 2 AP TRADE between South Korea and Indonesia has sharply increased from U*****.6 million in 1974 to $422.5 million (***** million to $972 million). Indonesia's exports to Korea consist of raw materials, including timber and forestry products. Indonesian Ambassador to Seoul, Lt. Oen. Sarwo Wlbowo, said earlier that
      AP  -  60 words
    • Article
      MEMO PAD
      425 2 COURSES AND TALKS May 8-Aug 17: Aust Insurance Institute Assoclateshlp Course, SITC, SITC June 5-July 29: Life Agents Certificate Course, SITC, SITC July 6-13: Financial aspects of personnel mngt, Hilton, POD July 7-9 July 15-16: Rapid Course on Distension, RELC, Synthesis Institute of Japan July 10: Salary, wage
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  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      176 2 The World's Supreme Storyteller Roald Dahl is one of the world's most accomplished and successful storytellers. He has enjoyed huge success with both children and adults on both sides of the Atlantic. Switchbitch, Charlie and the Chocolate Factory, Charlie and the Great Glass Elevator, and Danny the Champion of the
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      583 2 I -11-OME CROSSWORD I CRYPTIC PUZZLE ACROSS 1 Magisterial nose? (4) 4 Old Bob's faith In writing (6) 8 Hurt a little (3) 10 Mark the location (4) 13 Proper ad for confectionery (4-4) 14 Name the day? (8.4) 15 Sent by mall to pals, maybe 17 Burglar who took
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  • OVERSEAS
    • Article
      Forex men hold out little hope for dollar
      747 3 MAJOR international centres have doubts about a sharp recovery by the US currency In the months ahead. This was disclosed by a sampling of market participants by Reuter correspondents. In LONDON, dealers blame US Inflation and energy bill worries for having pushed
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    • Article, Illustration
      Lock icon Whom to contact in the Chinese business world
      787 3 AP BUSINESSMEN, who often have spent weeks of frustration In China trying to see the right people to clinch a deal, are getting a clearer Idea for the first time of who makes decisions to buy a particular product. Mr. John Kamm,
      AP  -  787 words
    • WORLD IN BRIEF
      • Article
        Lock icon WORLDWIDE CHEQUE
        534 3 Agencies VISA International said In San Francisco It plans to offer a new worldwide travellers' cheque to be issued early next year. The company said the new cheque can be Issued by any financial Institutions In any currency and sold In any country of the world. OYSTERS are
        Agencies  -  534 words
    • Article
      CITICORP TO ISSUE $575m FLOATER
      200 3 CITICORP piui to offer US$25O million (***** million) of floatiag rate notes doe IWB. The intereot rate will not be leas than 100 baaia points over the iii-aoath US Treasury bills rata* for the first 10 years aad will be 75 basis poiats over the
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    • Article
      Lock icon Californian tax revolt strikes home
      420 3 Reuter CALIFORNIA'S tax revolt struck home when Governor Jerry Brown vetoed pay rises for state employees and approved cuts In abortion funds before signing what he called an austere and lean state budget. After working through the night to find ways to save money, Gov.
      Reuter  -  420 words
    • Article
      UK miners vote 'no'
      76 3 BRITAIN'S National Union of Mlneworkers' annual conference meeting in Torquay voted unanimously to oppose a further round of government pay restraint and demanded a complete rethink of economic policies, the Press Association reported. This stance is similar to that adopted by the miners at their annual
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    • Article, Illustration
      Bonn rejects calls to raise deficit
      886 3 NO CURRENCY ACCORD WEST German Chancellor Helmut Schmidt rejected a call by EEC Commission President Roy Jenkins that Bonn should Increase Its public sector deficit by one per cent of gross national product next year as a contribution to boosting international growth, German delegation
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    • Article
      Big Three tackle the impending energy crisis
      716 3 THE CARTER administration is Joining key European governments and Japan In mapping plans to deal with the major world energy crisis projected for the 1980s. Senior European diplomats who asked not to be Identified, said a programme to deal with expected oil shortages
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    • Article
      Lock icon Accounting threat to oil industry
      671 3 Wasnington Star PROPOSED changes in accounting procedures used by American oil companies could badly cripple the Industry charged Mr. John Chalsty, managing director and director of research for Donaldson, Lufkln Jenrette Securities Corp. and director of the New York Society of Security Analysts. The proposed
      Wasnington Star  -  671 words
    • Article
      Coal comfort for Utah
      174 3 UTAH Development, Australia's largest profitmaker, suspended on Thursday all its coal contracts became of an International dispute now in its fourth week. About 1,750 Utah employees are striking In support of pay claima wuch would lift their aver age wages to A 921.500 (SI57.000) a year.
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  • Page 3 Advertisements
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      47 3 M NEW TELEPHONE NUMBERS FOR OPERATOR-ASSISTED INTERNATIONAL TELEPHONE SERVICE Effective from 2 pm today, the telephone numbers for operator-assisted International Telephone Service will be changed. Kindly dial 101 instead of 901, or 104 instead of 904. Any inconvenience caused is regretted. i: y. AUTHORITY OF SMGAPORE y
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER
      321 4 OPENING prices yesterday were marked down slightly. The prices later fluctuated narrowly before falling further on lack of support and stop-loss selling. Some reluctance among buyers was noted, influenced by last-minute deposits of July One RSS. The morning session closed lower with July One RSS buyers
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    • Article
      RAS PRICES
      379 4 Prices in cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int 1 R S.S prompt f o b. 227.00 228 00N 225.00 226.00S Int 1 R.S.S. July 227.50 228.00 225 50 228 00 Inl 1 R.S.S. August 227.50 228 00 226.00 226.50
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    • Article
      SSR AND SMR
      101 4 NOON SSR and SMR prices yesterday: July August RAS (Current Mth) (rocwa r4 Mth) Buyers Seller* Buyer* Sellers (cents per kg) (cent* per kg) SSR 20 (1-ton pallet) 211.00 213.00N 212.00 214.OON SSR 50 (1-ton pallet) 209.00 211.OON 210.00 212.OON M.R.E.L.B. August Septe mber SMR 5CV (1-ton
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    • Article
      Palm oil
      76 4 C.I.F. North European ports, In US dollars per ton unless otherwise stated. LONDON: Thunday Previoui Malaysian 5% (fa bulk per tonne August 600 sir 940 sir Sumatra 5% ((a bulk July 705 sir 695 pd August 660 sir 642 l 'ipd September 610 sir 595/600pd 572V575pd October 587
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    • Article
      Closing prices
      30 4 Rubber: July 7 Singapore: July 225.50 cenU (down 4.2S cents) Malaysia: August 230.00 cents (down 3.75 cents) Tin: MSI.C9O (down $11) Official offering: 243 tonne* (down 27 tonnes)
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      Hongkong Comex
      129 4 THE sugar market yesterday closed 0.02 to 0.14 US cents higher In continued quiet trading, with 18 lots traded against 19 on Thursday. The Hongkongdaily spot sugar price firmed 0.05 to 6.60 cents. Sugar futures closing prices: Closing Previous Closing Sep 8.71/73 6.57/59 Oct 6 79/80 6.67/69 Jan
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    • Article
      SPOT PRICES
      197 4 YARN and cotton in Hongkong dollars, spot ex-godown: Cotton Yarn: China Blue Phoenix 20s 1.720: 32s 2.185: 40s 2.270 (per bale of 400 lbs) Piece Good*: China Butterfly and Globe Brand unq. Dragon Head unq. Five Lambs unq. Flower and Butterfly unq. Flying Geese unq (per piece 36
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      Produce exchange
      343 4 ALL grades of coffee and coconut oil in bulk, old and new drum remained unchanged on the Singapore produce market yesterday. Overseas fluctuations had no effect on coffee prices on the local market. Oalns made in London and New York were attributed to liquidation of pools In New
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    • Article
      Coffee
      268 4 ROBUSTA futures in London yesterday ended the opening call steady £26 down to £27 per tonne up from Thursday night. Turnover was 321 lots. Spot July lost £26 on technical considerations while January was unchanged. Deferred Months were between £12 and £27 higher. Dealers reported good commission and tradehouse
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      Sugar
      160 4 SUGAR futures in London yesterday moved up from slightly higher overnight kerb levels to finish the first call with on-balance gains of 1'0.85 to £1.25 per tonne. Dealers attributed the advance to renewed shortcovering support after the recent decline. They said weekend factors were also featured. The London daily
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    • Article
      Rice
      204 4 BANGKOK rice prices were quoted as follows yesterday: (In US dollars per tonne F. 0.8 basis Bangkok): White rice: 100 pet Ist class 432. 100 pet 2nd class4l7. 100 pet 3rd class 412. 5 pet 403. 10 pet 385. 15 pet 377, 20 pet 372. 25 pet 362 35
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      Cocoa
      225 4 TERMINAL cocoa In London finished the first call yesterday with gains of £3.50 to £20 per tonne from Thursday, although generally below traded highs. Dealers attributed the steadier tendency to underlying manufacturer support which, they said, was complemented by New York's modest recovery overnight. The sources said the trend
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    • Article
      Continuation of downward trend
      506 4 ANOTHER descent was recorded In the week ended July 6, In continuation of the market's first downward reaction for two months, although some recovery was noted eventually. With bull momentum out of steam, the erosion in overseas centres, on currency factors and chartist selling, dominated the
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    • Article
      Straits tin
      182 4 THE STRAITS tin price In Penang yesterday fell a further Msll to $1,090 per plcul. The continued decline was Influenced by overnight easiness in London, but some buying was noted from local and Japan traders, dealers said. Turnover dropped slightly to 243 tonnes from Thursday's 270 tonnes with
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    • Article
      Soybean
      123 4 CHICAGO soybean futures on Thursday closed BVi and nine US cents a bushel higher in the two nearby contracts while other Months rose to cent. Traders reported active speculative buying of the Nearbys on a possible tightening of supplies. Traders also expect a steady soybean crush rate, between 15
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    • Article
      Wheat
      57 4 WHEAT futures finished with losses of I'/»to four US cents a bushel after fluctuating on both sides of the previous clo6e. in Chicago on Thursday. Near the opening, a large commercial firm was an aggressive seller of more than one million bushels of the September contract, traders said. Another
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    • Article
      Copper
      287 4 COPPER wire bars finished the morning In London yesterday with gains of £1.5 for cash and £1 for Three Months. The pre-market was steady initially under endweek covering prompted by expectations of a further fairly sizeable fall In warehouse stocks this week. But this was soon discounted as renewed
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    • Article
      Silver
      202 4 THE Hongkong silver market closed HKJ2.IO lower at the day's low of HK5244.40 per 10 ounces In thin trading, with turnover estimated at 15,000 ounces. The local closing was equivalent to 5.2626 US cents per ounce, slightly higher than Thursday's Chicago July closing of 5.1800 cents. The day's high
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    • Article
      Gold
      363 4 THE kllobar in Singapore Sesterday opened at 113,700. The market stayed around this level throughout the morning session with cautious sentiment. However, with renewed buying interest In the afternoon the market closed at $13,731 which Is the highest of the day. Spot gold for London delivery opened at U*****.70/183.00
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    • Article
      Lead
      64 4 LEAD ended the morning ring £0.75 up for cash and £0.50 higher for Three Months in London yesterday. Dealers said the market initially advanced In line with the early trend In copper and on reports of European physical business. However, there was no follow-through interest and Three Months, after
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      Zinc
      74 4 ZINC was £0.75 per tonne lower all round at the end of morning ring dealings In London yesterday. Values Initially showed small gains with Three Months trading up to £319 on the pre-market which dealers attributed to early steadiness In copper and lead. However, forecasts of a 2,000-tonne Increase
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    • MONEY AND EXCHANGE$
      • Article
        Singapore market
        471 4 INTEREST rates In the domestic interbank market stabilised yesterday. Overnight money opened at a high of 7 per cent but closed lower at 6 per cent. It hit a high of 9 per cent, with the bulk of business done at 8 per cent. Traders said the market
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        Asian $ & CD rates
        189 4 Asian CD rates ASIAN currency deposit interbank rates as at close on July 7: US Doll Offer lar*(8*rt> BM 7 days 1 mth 2 mths 3 mths 8 mths 9 mths 12 mths 81/8 ....85/8 8 3/8 8 5/8 9 ....93/18 .9 5/18 8 81/2 81/4 81/2 8 7/8 91/16
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        Discount
        49 4 RANGE OF prices ottered by dls count houses on July 7: Overnight 2% to 3 Call deposit 3"«* CWm Buying Se Iliac 3-Month Treasury bills 3 5/18 33/16 3-Month Bank bills 5 5/8 51/2 3-Month CD 515/18 513/16 9-Month CD 8 1/8 6 Source: National Discount Co Ltd
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        MLR
        21 4 THE average rate at which Singapore banks are currently prepared to lend to their best customers is 7 per cent.
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        Treasury bill tender
        65 4 RESULTS of tender held yesterday for 91-day and 273day Treasury bills: 91 -day bills to 273-day bills be iMued from lo be issued July 10 to on July 10 July 14 Offer*. S30.000.000 S10.000.000 AfflMfer: (4S.700.000 S4S .300.000 AOeM* S20.000.000 S10.000.000 Aeocptad Wi: SM IS ST7.30 approximately
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        London
        258 4 THE dollar was quoted marginally lower against major currencies in subdued early trading yesterday as some operators took profits. Speculation of improved prospects for the US Energy Bill on Thursday triggered active covering of short dollar positions, In a market which was in any case agitated by the current
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      • Article
        Tokyo
        147 4 THE US dollar for overnight delivery yesterday closed higher at 203.30 yen, compared with a 203.00 opening and 202.20 at Thursday's close. The dollar moved between 203.35 and 203.50 yen in light late trading after an initial rise in an active morning session, reflecting its overnight strength abroad, dealers
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        New York
        239 4 THE dollar maintained, in quiet afternoon tradlng,ihe sharply higher levels reached in nervous and at times hectic morning trading on Thursday. Profit-taking and renewed short-coverjng on uncertainty about the Bremen summit produced erratic movements within a fairly narrow but sharply higher range, dealers said. The swiss franc closed
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        Hongkong
        126 4 THE US dollar yesterday closed mixed In nervous trading on uncertainty over the Implications of the EEC summit's monetary Initiatives. The US unit eased slightly to 1.8665/ 75 from Its 1.8660/ 70 opening, but remained above the New York closing of 1.8670/ 75, dealers said. The dollar eased to
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        Zurich
        61 4 ZURICH exchanges closing quotes on July 6: US *****-8430 Stg 3 4358-4422 'Can 1.8381-8393 d ta mnm-m isso D Fl 82 6780-8873 F Ft 41 0258-1384 B Fr 5 8308-7525 D Kr 32 8878-7288 N Kr 33.8733-9411 S Kr 40 2582-3328 Lit 0 2184-40 Au* Kh 12 3308-3850 Port
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      • Article
        Australia/NZ
        57 4 AUSTRALIA and New Zealand exchanges on July 7: AUSTRALIA: US dollar <1497/ 1.1449 Sterling 0 8179/ 0.6110 Ninety-day airmail buying rate* Sterling 0 8384 US dollar ***** Ninety-day forward buying rate* Sterling 0 8188 US dollar 1.1440 NEW ZEALAND: Sterling 0.5547/ 0.5517 U8 dollar 1 0378/ 1.0278 Ninety-day airmail
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      167 4 COLLECTINQ Oriental Antiomej R i N i N' ou# Am\Q utj Ofltww- X ;s A-> by Judith Moorhouse and Dries Blitz 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
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  • TRANSPORT
    • Article
      Big tussle for $4.6b deal with United
      636 5 EUROPEAN and American aircraft manufacturers are waging a tough battle for a US$2 billion (554.6 billion) contract with United Airlines, the largest United States commercial carrier. The company, seeking replacements for its ageing fleet of medium range Jets, has narrowed the choice to
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    • Article
      Finnish vessels break a path to prosperity
      792 5 A LEGACY of the massive reparations which Finland had to make to the Soviet Union after World War Two is its expertise in building giant Icebreakers and other vessels designed for operation in extremely low temperatures. Now, with increasing demand for vessels to
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    • Article
      DAILY AIRCRAFT MOVEMENTS
      722 5 ARRIVALS Service Local Operator Number Time From CAL CI333 0040 TPE/HKG/KUL MAS MH601 0700 KUL MAS MH682 0725 KCH SIA SQ101 0815 KUL MAS MH621 0840 PEN MAS MH607 0845 KUL MAS MH671 0945 PEN/KUL CPA CX710 1005 HLP CAL CI814 1000 HLP RBA BI323 1025 BWN
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    • Article, Illustration
      HERCULEAN BOOST
      173 5 FIRST of 12 new Hercules (above) for the Royal Australian Air Force rolls out of the Lockheed Company's assembly building at Marietta, Georgia, on the way to the flight line. Deliveries of the new aircraft will begin this month through October. Bearing a distinctive green camouflage paint, the
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    • Article
      Lock icon O'Hare bans supersonics
      224 5 UPI SUPERSONIC aircraft will be banned from O'Hare International Airport In Chicago until the planes meet existing noise regulations. Mayor Michael Bilandic has announced. "A review of the recent regulations issued by the US Department of Transportation indicated that local administrators have the ultimate decision as to
      UPI  -  224 words
    • Article
      New route
      48 5 TAIWAN'S flag carrier, China Airline, plans to Inaugurate a new route to Luxembourg by the end of the year, the Central News Agency reported. Under a bilateral air agreement signed last May, the airline will fly the new route with stopovers In Hongkong Singapore and Jeddah.
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      Lock icon LONDON FREIGHT
      218 5 UPI AS BUSINESS resumed more normal proportions the Atlantic remained the principal arena of activity. However, rates in that area continued to weaken. US Gulf grain charterers worked 28.500-32,500 tons to Cons tan tza aboard a midJuly vessel at U5512.50 (5528.75) (FIO) which compared with $13.50 two months
      UPI  -  218 words
    • Article
      Lock icon Alaska's tanker law 'faulted'
      118 5 Reuter A US district court ruled that a major part of Alaska's Ports and Waterways Safety Act invades a field under the sole Jurisdiction of the US federal government. Under the law, tanker owners are assessed various amounts for use by a coastal protection fund to
      Reuter  -  118 words
    • Article
      Lock icon Surtax cut
      76 5 AFP THE SHIPPING conferences handling regular services between Europe and Pakistan have cut the surtax on their freight rates from Karachi, it was reported from London yesterday. The reduction from 18 to 10 per cent followed an improvement in the congestion at Karachi port. But those operating between
      AFP  -  76 words
    • Article
      CAF up
      43 5 THE Far Eastern Freight Conference, the Europe/ Japan and Japan/ Europe freight conferences, the Philippines/ Europe conference and the Sabah, Brunei and Sarawak conference have raised the currency adjustment factor from France to 24.5 per cent from 20.5 per cent previously.
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    • Article
      Lock icon TRANSFER ADVISED
      91 5 Reuter THE UK Port of London Authority recommended ail authority cargo handling at the Royal Docks be transferred to the India, MUlwall and Tilbury docks during the first half of next year. The recommendations are not detailed plans for immediate Implementation, but are the board's assessment of the
      Reuter  -  91 words
    • Article
      Lock icon SOS-1,000 Iranian ships are idle
      258 5 AP MORE than 1,000 cargo vessels owned by Iranian shipping companies are lying idle In the Persian Gulf area and some owners are on the verge of bankruptcy. The second secretary of the Iranian Ocean Transport Syndicate, Mr. Issa Irani, who said this in Khorramshahr
      AP  -  258 words
    • Article, Illustration
      SHIPS IN PORT
      473 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Golden Globe (2100) 25/26 Klnzan Maru (1300) 13/14 Kota gaja (0700 22 Nedlloyd Futaml (2000 after Nedlloyd Cumberland) 3/4 Slbonga (1200 after Bendearg) 31/32 Stolt Integrity (after General Zhdanov) 15/16 PASIR PANJANG WHARVES Berjaya (0600 after Pha Shwe Gyaw Ywa Builder II)
      473 words
  • Page 5 Advertisements
    • Advertisement
      Page 5 Advertisements Column 1
      424 5 44 n i i-.L. it's the newest 'in' thing to enhance your corporate image. CORPORATE LOGOS The Pride of a nation and symbol of her sovereignty is upheld in the national flag, anthem and emblem of that country. Similarly, in business, the corporate logo is the symbolic representation of the
      424 words
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  • Article
    Malaysia now in crucial stage
    678 6 MALAYSIANS go to the polls today to pick the men who will lead them for the next five years. There seems little doubt that the vast majority will settle for the status quo. The latest figures show that the Malaysian economy is performing well and
    678 words
  • Article, Illustration
    Lock icon Cincinnati has brought the stock market to the user
    1103 6  -  By LEONARD SLOANE NYT IN A SMALL room on the mezzanine level of the Dixie Terminal. Building in Cincinnati, three people sit quietly in front of video display terminals watching the screen. Every few minutes the silence Is broken when someone
    NYT  -  1,103 words
  • Article, Illustration
    Lobbying is a devious business
    1181 6  -  LETTER FROM AMERICA by\ John Tan LOBBYING in the US is as much a way of life as hamburgers. More than that, some Americans say, not-so-jokingly, it is the second largest industry, after energy. There are literally hundreds of thousands of lobby groups here. Everyone
    1,181 words
  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      282 6 Hotel Royal-RAMADA Newton Road, Singapore 11, Republic of Singapore. Telephone; *****1, Telex: RS-***** Cables: HOTELROYAL And now. try ourchef's new menu of a wide selection of delicious dishes. Ie you unrh 01 uine consider OPFNS WTEKDAYS: l2noon 3 00pm 7 00 l 00pm SUNDAYS 6 PUBLIC HOLIDAYS: 8 00am 3
      282 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      62 6 |W;EffTiHERi OUTLOOK for Singapore from 6 a.m. to noon today: Isolated showers around midday. Report for 24 hours prior to 7.30 p.m. on July 7 at the airport: Maximum Temperature 30.0° C Associated Humidity 75 Minimum Temperature 23.7° C Associated Humidity Hours of Sunshine 3.60 Rainfall in Millimetres trace Total
      62 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      324 6 SINGAPORE 5 1.00 PM Opening announcements followed by Sesame Street 0 2.00 Pre-Examination Programme Merchant Of Venice 0 4.10 Sandiwara A Malay drama entitled "Gambaran" with English subtitles (Rept) 4.50 Official Opening of Singapore Youth Festival 1978 (English) 0 6.05 Misterjaws 5 6.30 News in Brief 0 6.35 Play Guitar
      324 words
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  • Article
    Lock icon French leave for Renault's sit-in strikers
    605 7  -  •f ANDREW HILL Reuter A TIN-DAY workers' nu^allnn of mm sf HenanH's ear plants has Ugh*al b»dT*» *£e." I,IJ (Soon. outside Paris, waa at mm 1,000 riot police took control of Ik* ft Km j without major Incident. I oft wing trade anions, led
    Reuter  -  605 words
  • Article, Illustration
    Latest US model — the 'recall special'
    1237 7  - Latest US model the 'recall special' By JOHN WALLACE and ARTHUR SPIEGELMAN SINCE 1966. some 80 million vehicles have been "recalled" by manufacturers in the United States because of defects, according to official statistics. The cost to the manufacturers runs into hundreds of millions of dollars. The cost to the
    1,237 words
  • Article, Illustration
    STRAWS IN THE WIND
    607 7 TWO million phones are missing in Sweden. That's a quarter of all the phones rented out to Swedish subscribers by a government agency, the National Telephone Administration, nobody in Sweden owns his >r, l P hon The nation's Auditor-General is still scratching his head over that
    607 words
  • Article
    Consumer power and democracy still survive
    770 7  -  FORUM X f i m ...on business •y LEONARD SILK Leonard Sit k it a Smm York Timet' ecvnomic comnentator. THOMAS Murphy, chairman of the General Mo ton Corporation, does not believe that the great corporations of the US economy possess .vast power within
    770 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      349 7 :3 b V-. TODAY «OKOH Lunch N W < <£) i 3 branches for your convenience: SINGAPORE OKOH House, Penang Road. Tel *****1 OKOH OF GINZA Hong Leong Bldg., Raffles Quay. Tel *****81 KATSURA O'-hid Inn, Dunearn Rd Tel *****2 What is it about the Imperial Bar that brings them
      349 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Page 7 Miscellaneous Column 1
      33 7 BriStoW- Fraak Dioiieas UIHPfTS E3E5578] we SP*?IV<G FRom thccbr, UOOWED UP w Tne BoiiX>itfG,(Tne OulUpfcD «■***> Of M\s UHOte Life's PfcOie.-BuHKeD IN OS66LIPF T K€L Feu P>HP Sl^hlCHgn «SB^wa» p€£M ON THE.QJP>GOM SiMCeTHfc N£P>g
      33 words
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Lock icon Outlook bullish
      611 8 TOKYO Source: DBS-Daiwa THE Nikkei Dow Jones average continued yesterday to record another new high, rising to the Y5.600 level. Turnover was quite heavy estimated at MO million shares. The market closed firm due to buying by Institutional investors who are bullish on the near-term market outlook. In
      Source: DBS-Daiwa  -  611 words
    • Article
      Lock icon Hongkong
      418 8 Source: SHK-Sec THE market paused for breath yesterday on slightly reduced turnover with selected blue chips falling under heavy fessure. Property shares were 111 firm on the whole despite me profit-taking. -Utilities were unchanged while banking shares were mixed HK Bank fell to 19.50 after 19.80 while Union Bank
      Source: SHK-Sec  -  418 words
    • Article
      Manila
      137 8 THE market closed lower yesterday across the board with turnover rising to 7.19 million pesos from Thursday's 6.97 million. Dealers said Atlas lost five points while other mining Issues had small losses. Meralco was down by eight points while other commercials lost slightly. JULY 07 Pesos Acoje Mining .0105
      137 words
    • Article
      Sydney
      301 8 THE Tiarket was firmer yesterdty. Dealers said among Industrials. BHP rose six to 7.30 and CSR two to 3.00, while In coals. Coal and Allied eased five to 4.45 after Thursday's sharp gain on bid rumours. Utah lost three to 3.95 on Its continuing labour dispute. JULY 07 Cents
      301 words
    • Article
      Bangkok
      138 8 JULY 07 Bahts Asia Fibre 262 -1 Bangkok Bank 375 unch Bangkok Invest. 344 unch Bangkok-Metro-politan Bank Bata 885 -5 Berll Jucker 482 +6 CarpetIntnl 358 +4 Charoong Thai Wire 282 unch Dumex DusltThanl Faber Merlin First Trust 420 ♦7 Genera Finance Indo-Thai Industrial Finance Corp 2475 unch J
      138 words
    • Article
      Gold shares close mostly easier
      369 8 Johannesburg GOLD shares were mostly easier although selected issues firmed on Thursday. The softer trend vaa prompted by disappointment over the amounts bid for at Wednesday's IMF gold auction and lower Far East and European bullion Indications. Losses ranged to 50 cents while gains ranged
      369 words
    • Article
      Oil issues spur recovery
      340 8 Toronto SHARE prices closed firmer in active trading on Thursday as oil Issues spurred a strong recovery. The composite Index was up more than 3-1/2 points, but losses led gains 219 to 211. Ashland OH Canada Jumped three to 30. Kaiser Resources, which was unchanged at
      340 words
    • Article
      Selected indices
      62 8 FINANCIAL TIMES INDUSTRIALS Thursday 452.1 Wednesday 452.0 Week Ago 457.3 DOW JONES AVERAGE INDUSTRIALS Thursday 807.17 Wednesday 805.79 Week Ago 821.64 LONDON DOLLAR PREMIUM Thursday 112 to 112* Wednesday 112* to 113* H.K. HANG SENG Friday 581.32 Thursday 582.67 Week Ago 556.88 SYDNEY INDUSTRIALS Friday 425.06 Thursday 425.20
      62 words
    • Article
      Frankfurt sees lively trading
      462 8 EUROPEAN MARKETS SHARES prices in Frankfurt rose across the board In lively trading on Thursday. Leading chemicals met stronger demand than recently, with Bayer firming 1.90 marks. In motors, VW gained 4.80, Neckermann advanced five marks in stores and Veba was 2.00 higher. Dealers said trading
      462 words
    • Article
      Amsterdam
      204 8 JULY M FU ABN 364.70 4-0.7 Ahold 103 90 +0.9 Akzo 29 70 +0.9 AMEV 81.70 unch Amfas 103 SO -0.5 Amrot Bank 75.50 unch Bergoss 54 80 +0.3 Berk 91.80 +0.7 Bols 70 30 +0.3 BorsumlJ 158 20 unch Burhmann 72.00 ♦0.2 Byenkorf 93 00 +0.6 Calve Delft
      204 words
    • Article
      Paris
      362 8 JULY M Frs CORBEILLE Alr-Llqukte 302 ♦4 B 8 N Or** is Danone 546 IS CS F (Thomson Csf) 270 +8 Cle Francalse desPetroles 135 +5.9 Compagnle Financier* Compagnle 347 Generate unch Credit Fonder De France 345 ♦2 Hachette (Ubralrle) 232 90 ♦1.4 Machine* Bull 3# 50 -0.1 Michelin
      362 words
    • Article
      Frankfurt
      224 8 JULY M Dm Aef-Telefunken 78 10 +0.4 Akto 27 20 +0.8 All* Leben 965 25 Allz Vers 475 unch BASF 130 SO 1.6 Bay H T Wb&nk 288 -1 Bay V bank 318 +0.5 Bayer 133.30 1.9 BBC 309B BMW 247 00 2 Cassella 382 +4 Chem Verw 262
      224 words
    • Article
      Brussels
      94 8 JULY M Frs FORWARD MARKET Acec 313 -2 Arbed 2320 -20 Astur 580 -le B rase an 458 -2 Bru-Lamb 1510 unch Canpac 528 •18 Cock 452 -S De Beers 185 -3 Ebes 2250 unch Electrobel 6540 -10 Qb-lnno-Bm 2215 +5 Oev 1298 Hobok 2310 unch Petro 3680 -10
      94 words
    • Article
      Zurich
      178 8 JULY M Francs Actions Sulsaes 263 W •K Alusulsse Br 1245 ♦5 AlusulsaeReg 507 -3 Brown Boverl Br. 1630 -5 ClbaOelgy Br 1100 -S CtbaOelgy PC 825 unch Clba (MB Reg 583 ♦2 Credit Suisse Br 2155 -5 Credit Suisse Ret 407 -2 Elektrowatt Br 1730B Oeorfe Fischer Br
      178 words
    • Article
      CHICAGO BOARD OPTIONS
      1438 8 July 6 VOLUME on the Chicago Board Options Exchange fell to 95,526 contracts on Thursday from 103,411 on Wednesday. OPTION JLY OCT JAN STOCK Alcoa 40 1% 2ft UNTRD 41ft Alcoa 45 ft IK 37/16 41ft Alcoa 90 ft UNTRD ft 41ft Am Tel ss 1% 4*
      1,438 words
    • Article
      Stocks weaker
      1092 8 NEW YORK STOCKS on Thursday were mostly weaker as Investors awaited reports on the U8 money supply and wholesale prices. The market was worried about the money report, due at the New York Stock Exchange close. "The Ped seems to have lost control of It" and Investors are
      1,092 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      119 8 V in PAN Paperback LE CAIIE J THE HONOURABLE SCHOOL' HIS LATESI i WOK I. O BESTSELLER THE PREMIER SPY NOVELIST OF HIS TIME P ERHAPS OF ALL TIME Now on Sale at all good bookshops The ultimate espionage novel. 1-ondon. Hofiuki>iiK. Vientiane arc the settings and (ienrge MtiiK ,ni(i
      119 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Inland Steel may beat 1977 income
      415 9 N.AMERICAN Reuter INLAND Steel Co chalrman Frederick Jalcks said he expects 1978 earnings to rise to at least US$5.4O a primary share, compared with last year's $4.23. Mr. Jalcks said earnings for Inland, could be even ./higher If the company maintains the first half's
      Reuter  -  415 words
    • Article
      Lock icon Resorts nets in US$16m from June gamblers
      533 9 NYT RESORTS International reported that its daily take in June from the United States' only legal gambling casino outside Nevada averaged U*****,627 and that its gross for the month was $16.04 million. The casino opened on May 26. For the last six days
      NYT  -  533 words
    • Article
      Lock icon Fluor Corp sees strong earnings
      398 9 Reuter FLUOR CORP earnings for the third quarter ending July 31 will be fairly strong compared with the US$l.2l a share last year. Its chairman Robert Fluor said he expects higher earnings in the fourth quarter that would lift earnings above the $4.48 a share
      Reuter  -  398 words
    • Article
      Lock icon Exports lift Int'l Minerals
      74 9 FT A STRONG jump in exports of phosphate rock and potash helped boost net income of International Minerals and Chemicals almost 10 per cent in the 1978 fiscal year ending June 30. Mr. Richard Lenon, chairman and chief ex- ecutive officer predicted, however, that fiscal year
      FT  -  74 words
    • Article
      Lock icon Exxon plans to restart drilling
      146 9 UPI EXXON plans to resume Its deep sea drilling operations off the coast from Atlantic City "sometime in the next several days." Drilling operations have been suspended since a piece of pipe broke off the Glomar Pacific on June 24 at the 4,175-metre mark. Crandall
      UPI  -  146 words
    • Article
      Lock icon Dome Pet denies interest
      66 9 Reuter DOME Petroleum Ltd said it is not interested in acquiring Ashland Oil Canada Ltd. Ashland Oil Inc said it received "serious expressions of interest" for its Canadian subsidiary, but no specific proposals had been made. Dome has been among those rumoured as a bidder for
      Reuter  -  66 words
    • Article
      Lock icon Union Oil discovers gas
      67 9 Reuter UNION Oil Co of California said an exploratory well discovered a significant extension of the Vermillion block 14 natural gas field offshore Louisiana. The company said an adjacent confirmation well now is being drilled.When completed, both wells will be tested for production potential. Union owns
      Reuter  -  67 words
    • Article
      Lock icon Turning to railroads for high returns
      794 9 NYT 80XCARS the railroad, not the dice table kind are one of the newest plays for high bracket investors searching for a combination of tax shelter and comparatively high return. Chronically short of capital, many railroads cannot afford to buy outright the rolling stock
      NYT  -  794 words
    • Article
      Lock icon UDC places Stanbic shares with Old Mutual
      335 9 f S.AFRICA b FT UDC Holdings, the South African arm of UDT which recently sold Its banking company, UDC Bank, to Standard Bank Investment Corporation (Stanbic), has placed the bulk of the Stanbic shares Issued to It In exchange for UDC Bank with
      FT  -  335 words
    • Article
      Lock icon Rennies plans to build casino in Transkei
      244 9 FT THE DIVERSIFIED South African group, Rennies Consolidated, in which Jardlne Matheson holds 51 per cent of the shares, has announced plans to build a R25 million casino complex In the Transkei, the first of the South African homelands to attain independence. Scheduled
      FT  -  244 words
    • Article
      Lock icon ANM agrees on newsprint mill project
      250 9 ASIAN FT SYDNEY: The directors of Australian Newsprint Mills (ANM) are to proceed with plans for ASISS million newsprint mill at the country town of Albury, New South Wales, subject to satisfactory completion of financing arrangements. The go-ahead is also subject to formal agreements
      FT  -  250 words
    • Article
      Lock icon Allied to advance A$8m to Tooheys
      124 9 Reuter SYDNEY: Allied Breweries Ltd., wholly-owned subsidiary of Allied Breweries Australia Investments Pty Ltd, will advance A 58.05 million to Tooheys Ltd at 9.25 per cent Interest through issue of 4.6 million unsecured non-trans-ferable convertible notes of $1.75 each for a maximum five-year period.
      Reuter  -  124 words
    • Article
      Lock icon Utah force majeure
      98 9 Reuter BRISBANE: Utah Development Co Ltd said It has declared force majeure on all overseas coking contracts because of a strike by miners. At least two ships are standing off the company's Hay Point loading facilities waiting to be diverted to other ports. A company spokesman said
      Reuter  -  98 words
    • Article
      SWIRE PACIFIC ACCORD
      108 9 SWIRE Pacific announces that It has reached agreement with the Peninsular and Oriental Steam Navigation Company for the purchase of all P. and O's remaining shareholding in Cathay Holdings Limited. Cathay Holdings owns 00 per cent of the shares of Cathay Pacific Airways, and tne present shareholders
      108 words
    • Article
      Lock icon BP acquisitions will take time to work out
      605 9 EUROPEAN Reuter FINANCIAL analysts are predicting higher earnings for British Petroleum Co Ltd, but they see little If any, Impact in the near term from the company's recent planned acquisitions. On June 16, BP agreed to acquire Union Carbide Corp's petrochemical assets
      Reuter  -  605 words
    • Article
      Lock icon Astra to spin off three unrelated units
      250 9 FT STOCKHOLM: Astra, the Swedish pharmaceuticals group, is planning to sell three subsidiary companies not directly connected with its main business. They are Astra-Wallco, which produces consumer hygienic products, AstraDlnol, whose main field is rust prevention, and Swix Sport International, manufacturing ski waxes
      FT  -  250 words
    • Article
      Lock icon LYONS MAY RESUME PAYOUT ON PROFIT RISE
      173 9 Reuter LONDON: The current year should see a marked Improvement in the performance of J. Lyons and Co Ltd following a loss after extraordinary Items of £8.95 million in the year ended March 31. Chairman N.L. Salmon said if results for 1978/9 are
      Reuter  -  173 words
    • Article
      Lock icon Dunhill well-placed to finance growth
      448 9 FT THE GROWING liquid resources at Alfred Dunhiil mean that the group is well placed to finance the projected expansion by internal growth and acquisition. Mr. Richard Dunhill, the Chairman, said at the *****8 year-end. liquid funds and short term investments increased by a further
      FT  -  448 words
    • Article
      Lock icon MK Electric setback
      171 9 FT ADVERSELY AFFECTED by several factors at its principal operating company, pre-tax profits of MK Electric Holdings fell from £3.86 million to £3.39 million in the second half to leave the figure for the 52 weeks to April 1, 1978 down at £5.95 million compared with a
      FT  -  171 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      127 9 study with Wblsev Hall OXFORD Institute of Administrative Management Institute of Bankers Inst of Chartered Secretaries St Administrators Inst of Statistic ans London Chamber of Commerce Industry HSC/GCE A level MCE SCGCE O Level London/AEB GCE A O' Levels Modern Mathematics for Teachers Foulks Lvnch LONDON Ass of Certified Accountants
      127 words
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  • DEALS DONE ON THE SES AND KLSE
    • Article
      In Singapore
      1602 10 BID and offtr prtOM officially listed and business in and reported to tba Stock Exchange of atnupore yaelar(tajrwith the number ofsbaree traded sMwn in brackets In lou of 1.000 uaM UDISSS otherwise specified m Tim* Settlement Contracts an quoted after the word "aett". ■t Board deal (in lou
      1,602 words
    • Article
      Government and corporate bonds
      40 10 4 3/4% 18/9/88 250,000) «I 0 20B) IV4/81 (250.000) (100.40B) 7% IV4/M (250.000) (100.908 101.068) 7 1/4% 11/16/86 250.000) (100.75B) ni2£> ,i/4/## (25o.ooo) 7 1/4% 1/5/87 (250,000) (100.75B) 5 1/1% T P li/VST (250,000) (100.458 100.008)
      40 words
    • Article
      Stock options
      106 10 STRIKING prices of the stock options officially listed on the Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday with the number of options traded shown In brackets. y CaM Staraga (Sept 81.78) (6.768 6.988). C aad C (Sept 82.39) (2-7*B). P aad
      106 words
  • Article
    SHARE INFORMATION SERVICE
    2506 10 1978 High Low Company Last Sale +orCk's Dhr Dhr Crr Gr'i Y'U Net P/E Vol cm) Day High Low SECTION ONE INDUSTRIALS 230 233 172 200 83 204 208 210* 478 404 132 123* 112 195* 60* 162 173* 140* 256 394 Acma Alcorn Allied Choc Bata
    2,506 words
  • Article
    Unit trusts
    145 10 SINGAPORE UNIT TRUST INCOME BOND UNIT |Muim' pries* tar Jub I0> (Carnal p rion) The Commerce 1.14 2.27 INCOME BOND 1.07 1.12 The 8a ring Fund 1.34 1.42 8'pore Prof Fund S pore Security Fund 106 1.12 MARA BUMIPUTRA FUND 1.00 2.10 (Maaa#ws' prion First Bumlputra itrMr 10
    145 words
  • Article
    In Kuala Lumpur
    1893 10 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets In lots of 1,000 units unless otherwise specified. INDUSTRIALS Aama (2.238) XD. AllniiwU (2MB). Alcam (3.408 1.438) (3) 2 *0
    1,893 words
  • Article, Illustration
    Turnover at all-time record high
    720 10 PRICES rooe kigber on the Stock Eichiai* Siaftvon yesterday with a handful of market fsvouritee aooonnHag for all-tiaM reoord ia total tnramr. Trading waa massive aa 13.3 million sharee worth $30.5 aiillioa chaaged hands. This compared with Thursday's volume of 9.1* millioa shares valued at
    720 words
  • Article
    KL vigorous on eve of polls
    579 10 SHARE prices closed on a very steady note at the Kuala Lumpur stock market yesterday, the eve of the general elections. In sharp contrast to expectations that trading would be affected by preelection jitters, trading was instead more vigorous and prices were generally marked
    579 words
  • Article
    MALAYSIAN MOSAICS
    100 10 MALAYSIAN Mouia Bbd said ito first and final 1*77 dividend should he one per cent tax exempt phi nine percent, teee4opercanttax and not four per cent tax exempt plus four per cent, lees tax, as announced earlier. It said becauee of a typographical error the percentage rate of
    100 words
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  • COMPANY NEWS
    • Article, Illustration
      Bukit S'wang awaits opening of Mimosa
      464 11 SHAREHOLDERS of Bukit Sembawang may have to bear with another year of stagnating profits till the Mimosa Park Condominium project comes on stream next year. This is revealed by chairman Mr Lim Koon Teck in his latest annual address. "We cannot expect any increase
      464 words
    • Article, Illustration
      United Engineers to expand overseas
      879 11  -  By ARTHUR NG UNITED Engineers Ltd does not see any prospect of arresting the declining profit trend suffered for the past two financial years. "I cannot see any sign of Improvement for 1978," says chairman C.C. Tan In his latest annual address. "Competition is Just
      879 words
    • Article, Illustration
      Harimau aims for a good balance
      436 11  -  ■y MANO SABNANI EXCEPTIONALLY high dealing profits and dividend income were the main factors behind Harimau Investment's strong earnings recovery last year. The closed-end Investment trust's chairman. Mr Shaw Vee Meng, says that while it is not possible to ensure that such income will
      436 words
    • Article
      DIVIDENDS ANNOUNCED
      474 11 Current Ex Books Date Total for Total for payment Date close payable the year previous year S'pore Merlin 5%<b) Jun 9 Jun 16 Jul 10 5% Nil Esso (Pref.) 7%TE May 23 Jun 2 Jul 10 10%TE 10%TE Esso (Ord.) 20%TE May 23 Jun 2 Jul 10 25%TE
      474 words
    • Article
      SCRIP ISSUES
      200 11 Company Particulars Ex Date Books Close Straits Trading Bonus Issue of 1 for 3 Jul 6 Jul 15 Oriental Holdings 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
      200 words
    • Article
      Sabah Timber logging profits cut by half
      447 11  -  By SUSAN BEVAN MORE BAD news for the timber industry comes from Sabah Timber Company which, in its annual chairman's statement, records a very poor year for the logging side in 1977. It also gives very little encouraging news about the current prospects
      447 words
    • Article
      COMPANY MEETINGS
      160 11 Sanyo Industries (Malaysia) Bhd: AGM to be held at Regent 7, 2nd Floor. The Regent of Kuala Lumpur, at 10.00 a.m. on July 14. Wilkinson Process Rubber Co. Bhd: AGM to be held at 70. Jalan Ampang. Kuala Lunipur. at 2.30 p.m.. on July 18 Metal Box Singapore
      160 words
    • Article
      JARDINE REMINDER
      84 11 JARDINE Matheson (South-east Asia) has informed shareholders that references to the Kuala Lumpur Stock Exchange Berhad appearing in the document sent to shareholders and dated June 9, 1978 should be references to the Kuala Lumpur Stock Exchange. Shareholders are reminded that those who wish to transfer shares into
      84 words
    • Article
      HK Land scheme to acquire City Hotels approved
      211 11 THE Hongkong Supreme Court has sanctioned Hongkong Land's scheme of arrangement for the acquisition of the rest of the shares it does not already own in City Hotels. According to the company. the Supreme Court approval was received on Wednesday and the
      211 words
    • Article
      Consplant
      61 11 CONSOLIDATED Plantations has informed the Stock Exchange of Singapore that the council of the London Stock Exchange has found no evidence of incorrect conduct in their investigations into dealings in the warrants of the company. The investigations related to the placing by London brokers. Hoare Govett, of five million
      61 words
  • Page 11 Advertisements
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      Page 11 Advertisements Column 1
      289 11 ANDRE NEWMAN in Penguins A Bouquet of Berbed Wire A Bouquet of Barbed Wire, Andrea Newman's first novel in Penguins is currently a major drama series on London Weekend Television. Peter Manson is in love with his own daughter. Confused, he hides behind a guilty tew affair with his secretary
      289 words
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  • Article
    MULTI-MILLION DOLLAR FRAUD
    763 12  -  By CHAN BONO SOO A SINGAPORE ewtuy «u used u the shall far multi-million dollar swindle involving a British buyer. Early this year, a commioatsnod buyer in London loot 13.5 million when ho bought plywood from traders who had no Intention to send him any. At least
    763 words
  • Article
    Lock icon Japan plans to treble oil stockpile
    342 12 Reuter UPI JAPAN plans to Increase Its government-financed crude oil stockpile to about 30 million tonnes from the present target of about 10 million tonnes. A revised plan will be worked out by next October under the government's emergency Import programme to cut Its
    Reuter; UPI  -  342 words
  • Article
    LOCAL DRESDNER BANK GETS IMF GOLD
    527 12 DRESDNER Bank (Southeast Asia) of Singapore Is among the 19 successful bidders In the competitive portion of the International Monetary Fund's latest auction. Disclosing this In Washington on Thursday, the Fund identified Cyprus and Mauritius as the buyers of 20,800 ounces at the noncompetitive
    527 words
  • Article
    Lock icon Taiwan won't revalue
    219 12 AFP THE Taiwan government has decided to increase imports so as to lower rising foreign exchange reserves rather than revalue Its currency. Its reserves stand at around US$5 billion (5511.5 billion). The target for this year's trade has been set at $20.8 billion with Imports at $10.1
    AFP  -  219 words
  • Article
    Keeping SES informed
    366 12 STOCK Exchange of Singapore general manager Ltm Claoo Peng told the district court yesterday that the discovery of any material factor which could affect the prices of a company's shares on the stock' market should be reported to the SES Immediately. He sakl this at the trial
    366 words
  • Article
    Award set aside
    305 12 THE GOVERNMENT has made a motion for an arbitration award of $517,925 damages and Interest for Union Contractors to be set aside. In a hearing before Mr. Justice Chua, Senior State Counsel Warren Khoo said Union Contractors abandoned work on the Pan Island Expressway after completing 60
    305 words
  • Article
    LONDON STOCKS
    779 12 LONDON. Frl. Trading was slack today with share prices generally steady and government bonds firm. Thorn Electrical was a feature among equities rising 28p to 336p on hlgher-than-expected annual profits, and other leading electrlcals firmed In onnpi At 3 p.m. the Financial Times Index was up 1.5 at
    779 words
  • Article
    US plans for slowdown in face of 7pc inflation
    385 12 FACED with a 6.9 per cent inflation rate this year, higher than it had expected, the Carter Administration said it was planning for slower economic growth and only a very small Improvement In unemployment next year. Charles Schultze. chairman of the
    385 words
  • Article
    Lock icon RIDING THE CREST OF CONFIDENCE
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    Reuter  -  245 words
  • Article
    Lock icon Holland's gift to four poor countries
    88 12 AFP THE Dutch Government has cancelled the debts of four particularly poor Third World countries Bangladesh, Upper Volta, Sudan and Tanzania. A Foreign Ministry communique issued in The Hague said all Dutch development aid loans to those countries were considered gifts as of last
    AFP  -  88 words
  • Article
    Lock icon Coking coal crisis
    67 12 AFP INDIA'S stateowned steel authority is planning to Import one million tons of high-quality coking coal on an experimental basis. Imported coal will be made available to the public sector steel plants, where the coking coal stock position Is now critical. Steel Exports during the current year
    AFP  -  67 words
  • Article, Illustration
    'No' capitalist banking here
    591 12  -  By SOH TIANG KENG BANK OF China has ruled out immediate plans for introducing "capitalist" banking In Singapore. Tk bank spokesman who said yesterday the Singapore branch had received no Instructions from Peking to adopt capitalist methods here was commenting on reports that China has given
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      510 12 This Month's New Penguins Edna 0 O'Brien Mother Ireland Hf THE MEW PSYCHOLOGY OF DREAMING Mother Inland: Edna O'Brien Mother Ireland is an autobiographical tapestry, recollections of an Irish childhood linked to an account of a journey there today, interwoven with fragments of Irish mythology, history and hearsay. This is
      510 words