The Business Times, 13 July 1978

Microfilm: NL9760
Total Pages: 16
1 16 The Business Times
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  • Title Section
    Masthead
    11 1 BUSINESS TIMES M.C.(P) No. 218/1/78 THURSDAY, JULY 13, 1978 50 CENTS
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  • BRIEFLY...
    • Article
      Telecoms' $840m
      42 1 THE Telecommunications Authority of Singapore expects to spend $840 million on equipment between now and 1983. A spokesman said that telephone switching equipment, transmission plant, cables, radio and subscriber terminal equipment will be purchased for modernising the services In Singapore.
      42 words
    • Article
      Lock icon Manila surcharge
      74 1 Reuter. MANILA. Wed. A congestion surcharge for all cargo destined for the Philippines' main port of South Harbour, Manila, may be levied for the first time by shipping conferences trading with the country, reliable sources said yesterday. The conferences two from the US and one from Europe, Australia
      Reuter.  -  74 words
    • Article
      More Thai rice
      70 1 BANGKOK, Wed. Thailand has released more rice for export In a bid to help farmers get higher prices, Commerce Minister Nam Poonvathu said yesterday. A total of 40,000 tonnes of high grade rice was approved for export on a commercial basis before the end of next month
      70 words
    • Article
      Tokyo raises aid
      47 1 TOKYO, Wed. Japan yesterday revised and Improved a pledge to double Its official development aid In three years, a spokesman said. The decision was made by Prime Minister Takeo Fukuda and Kllchl Mlyazawa, DirectorGeneral of the Economic Planning Agency, before next weekend's Bonn summit.
      47 words
    • Article
      Yen to travel
      63 1 TOKYO, Wed. A trade forecast says 500,000 Japanese will vacation abroad In July and August with each of them spending an average of US$l,B7O (554.300). The Japan Travel Bureau reported, today that the largest share of 100,000 vacationers will head for the US west coast and Canada,
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    • Article
      Lock icon KL buying mission
      68 1 AP. KUALA LUMPUR, Wed. The government-run National Trading Corporation (Pernas) will lead a buying mission to the Canton Trade Fair on Oct. 15. All purchases from China must be made with the corporation's approval and about 70 businessmen are expected to be In the delegation. They are
      AP.  -  68 words
    • Article
      Office in Hanoi
      57 1 SINGAPORE and Vietnam have agreed on the setting up of a Singapore trade office In Hanoi. Disclosing this yesterday, the Vietnamese Vice-Foreign Minister Phan Hlen added that the office will have diplomatic status. Hanoi has also expressed the desire for more economic cooperation with Singapore, Including joint-ven-tures.
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    • Article
      Lock icon Dow Jones
      88 1 UPI NEW YORK, Wed. Stocks, aided by an improved dollar abroad and hopes for significant oil discoveries In the Atlantic Ocean, headed higher early today In active trading. Investors were encouraged by the dollar's continued rebound abroad. Brokers said there were hopes something might be done to bolster
      UPI  -  88 words
  • Chief Price Changes
    • Article
      In Singapore yesterday
      117 1 Rises HGilfilUn 330 Conaplant WrU 444 Tronoh Mines 680 Berjuntai 870 Supreme Corpn 221 Kempas 410 Utd Plantation* 260 A Enterprise* 322 Kulim Mala 177 Kuala Sidim 230 Foils Weamee 354 Ambaaaador 164 F*N 550 Sin Chew 318 Sime Darby 316 Pan Electric 205 +40 +28 +25
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    • Article, Illustration
      In Kuala Lumpur
      187 1 Rises Most active S. Mat Tin Temerloh Con Pit W'nt M. U. Ind Utd. Plant Malakoff M Flour Negri Semb Austral Ent Kullm Tlmuran 9.30 3.50 4.38 2.20 2.82 2 39 2.97 2.98 3.36 1.77 2.16 .30 .20 .18 .13 +.10 .08 .08 .08 .08 .07 +.06
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  • Article, Illustration
    Sime aims to be world's largest
    771 1  -  1475 M FOR ACQUISITION By COLIN CHEE THE SIME Darby group is back on the acquisition trail and this time it appears to have set its sights on something big costing around $500 million. To this end it Is raising a $475 million syndicated
    771 words
  • Article
    African bank's issue in Asian $ market
    229 1 African bank's issue in Asian market THE AFRICAN Development Bank will Issue a US$4O million floating rate note In the Asian and Eurodollar markets. The Issue, the first by an African borrower, will mature In 1983. It Is leadmanaged by First Boston Europe and Credit Suisse White Weld. Among the
    229 words
  • Article
    Colour TV men to clear the air with KL
    737 1  -  ■y RONNIE LIM TV manufacturers In Malaysia will meet the government later this month for a possible solution to the threatened delay In starting colour TV transmission. This follows a recent meeting between the Federation of Malaysian Manufacturers and the TV
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  • Article
    Lock icon Check on imports
    96 1 AFP. CONTAINERS or lift vans containing Indonesian imports from Singapore and Hongkong or transhipped through the two cities must be opened and the contents checked one by one to prevent smuggling, Jakarta tax and custom* head, Mr. Jali, said yesterday. According to the offieial Antara News Agency,
    AFP.  -  96 words
  • Article
    Bears seize control at stock exchange
    298 1 FOR A change, marauding bun were la eontrol at the Stock Exchange of Singapore yesterday. After the barely steady cloee on Tuesday, stocks opened on a mixed note yesterday, with several plantation stocks enjoying a flurry of buying while the root of the market
    298 words
  • Article
    Malaysia to set up investment office here
    347 1  -  ■y SIVA ARASU MALAYSIA will set up an Investment promotion office in Singapore next week, the first in an Asean nation and the seventh such overseas office of the Federal Industrial Development Authority. The government agency promotes foreign Investments In Malaysia. The office,
    347 words
  • Article
    Court reprieve
    163 1 CENTRAL Securities has been granted a conditional stay of execution on the Judgement debt of Mss million awarded against It In the High Court In Kuala Lumpur recently. A company spokesman disclosed that In its application, heard before Justice Harun Hashlm yesterday, the stay was granted on the
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      5 1 AKAI L SEE BACK PAGE
      5 words
    • Advertisement
      Page 1 Advertisements Column 2
      126 1 cy f. m i r -Sift A MOST a&nNGOCSHED GSR! Peugeot 604 exudes luxury. It's rigid body is protected by Electrophoresis and six handsprayed coats of paint plus a top layer of varnish. 4 Insulation from noise and vibration is achieved via a floating differential, seats that are tuned to
      126 words
    • Advertisement
      Page 1 Advertisements Column 3
      84 1 ÜBIB3 SHIPPING TIMES PHILIPS' chief (kite acrooe the MARKET talk 11 MNC'b viewpoint/. 2 SLOWDOWN expected at new PEOPLE in busineu 2 Sereydah. 11 US aecqeed of itartin| airline METAL Bex may see hard industry turbulence 5 time# 11 THE gnat uranium 6 No room In hotel boom! 12 SINGAPORE
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      Page 1 Advertisements Column 4
      152 1 I I i Leader. Page 6 CAPTURE THE WORLD CUP 1978 ON YOUR AKAJI vus a r v t? »v 55 .J m W .k U\ -4 "'-ta 4 s i #r m V t 4» K,T V AND YOU'LL BE ABLE TO WATCH IT ANYTIME AT YOUR OWN CONVENIENCE
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  • TRADE AND INDUSTRY
    • Article
      MNCs bring mutual benefits
      646 2  -  BASIC COMMON GOALS By RONNIE LIM MULTINATIONAL corporations and governments In Asean have a basic common interest. And if MNCs are Bven the proper condl--sns, the two will share In the benefits which foreign investment brings. Mr. B.M. Lap, chairman and managing director of the Dutch
      646 words
    • Article
      SMA TO HOLD BEAUTY CONTEST
      142 2 THE SINGAPORE Manufacturers Association (SMA) will hold a Miss SMA '78 contest, open to all employees of member companies. In conjunction with Singapore Fair '78 (to be held at the World Trade Centre from Oct 6 to 15), 15 contestants will be picked for the
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    • Article
      Opening of S.Sangyo subsidiary
      82 2 THE JAPANESE company, Shlnei Sangyo. will Inaugurate its wholly-owned subsidiary, Singapore Shlnei Sangyo on Saturday. The MP for Kampong Kembangan, Mansor Haji Sukalml, will open the plant. Singapore Shlnei Sangyo, with a paid-up capital of $300,000 will manufacture metal stamping parts tool and dies. The new
      82 words
    • Article
      Estates urged to mechanise operation
      397 2 THE CHAIRMAN of Slme Darby, Tun Tan Slew Sin, advocated speedy mechanisation of the estate operations in anticipation of a severe labour shortage by the turn of the century. Speaking In a plantation management course in Kuala Lumpur, Tim Tan said he could not help
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    • Article, Illustration
      Sole-ly for shoe industry
      94 2 A PHILIPPINE-Italian joint venture company is investigating the prospects of setting up a second polyurethane plant in Asean, according to Philippine Trade Commissioner Virginio Santos Crux yesterday. He said that the International Components Processing Corporation, already operating in the Philippines, are conducting a marketing research of
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    • Article
      IMPORTS OF SAFETY EQUIPMENT WILL SOAR
      168 2 SINGAPORE'S imports of security and safety equipment are expected to hit $158.9 million by next year and $169.5 million by 1982. US Department of Commerce research shows that last year's imports amounted to $148.8 million, a 15 per cent Increase over 1976. Singapore will
      168 words
    • Article, Illustration
      Pen-Group contributes M$180m to KL's forex earnings
      408 2 MALAYSIA'S bigfest synthetic textiles manufacture the Pen-Group contribute* about Ml 180 million year to the nation's foreign exchange earnings, group figures show. Its exports total more than 1240 million a year and accounts for N per cent of the country's export of synthetic
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    • Article
      Deposits of tin waiting to be discovered
      404 2 THE prospects of discovering new tin deposits in Malaysia appear good, says the Malaysian Department of Mines. There are geological indications that lode deposits may be found in the Main Range, the Kledang Range and hilly areas of Pahang and Trengganu. In an
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    • Article
      MEMO PAD
      331 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 13-14: Consumer marketing for managers, Hilton. Price Waterhouse July 17-19: Increasing Hotel •Sales Effectiveness, KL Hilton,
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    • Article, Illustration
      PEOPLE IN BUSINESS
      172 2 CENTURY Pf rk Sheraton, Singapore, has appointed the following executives: Resident manager Ulrich Mockenhaupt. He was previously resident manager of the Holiday Inn In Durban, South Africa. Sale and marketing director Richard Oon. He was formerly sales director for the Mandarin Hotel. Food and beverage director Dante
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    • Article
      Under the same roof
      236 2 THE headquarters of the new authority representing the Adult Education Board and the Industrial Training Board will be housed In two blocks of the former Ayer Rajah campus of the Singapore Polytechnic when renovation at a cost of $400,000 is completed In January. Mr. Llm Jit
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    • Article
      Trade grows best when based on two-way flow
      287 2 NEW ZEALAND manufactures visiting Asean in search of export markets are being urged to study the same markets as a source of supply for materials. The "try to buy as well as sell" message comes from Mr. David Pheasant, Trade Commissioner at
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    • Article
      Steelmakers' proposal
      76 2 JAPANESE steelmakers have proposed the elimination of the escalator clause from long-term coking coal purchase contracts with Australian suppliers. The proposal was made by Japan's big six steel makers at their July 3 4 conference In Sydney with Australian Iron ore and coking coal suppliers, Mr. Saburo Tanabe,
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  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      125 2 MONEY The July issue of Euromoney contains an exclusive and in depth interview with Singapore's Prime Minister Lee Kuan Yew, as well as a survey of Singapore and Hong Kong as financial centres. Euromoney's highly respected editorial concentrates on international bonds and eurocurrencies, foreign exchange, economics, world banking, international corporate
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    • Advertisement
      Page 2 Advertisements Column 2
      119 2 For a Successful BANKING Career I LIT PIA ERA MA SCkl NEI Wdsey Hall for the Institute of Bankers CONVERSION COURSE Successful candidates of the Conversion Course will gain direct entry to the Institute of Bankers Part II or Stage II examinations leading to the Banking Diploma (AIB). The duration
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      648 2 CRYPTIC PUZZLE ACROSS 4 Went easily with a claim to being exploited (6) 7 Spy mother putting a new hat on with a distracted air (4. 4) 8 Curry's a hot one! (6) 10 Where Soots could play golf or not (5) 13 Accommodation of note (4) 14 Henry Forte's
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  • OVERSEAS
    • Article
      Lock icon Manila's first step towards power company takeover
      256 3 AFP. THE PHILIPPINE government concluded an agreement with a major power company for the acquisition of the firm's 1,100-mllllon-peso (Ss36B million) generating unit. Finance Minister Cesar Virata said the government would also negotiate to purchase the Manila Electric Company's (Meralco's) three other plants
      AFP.  -  256 words
    • Article
      BSC mill to cease steel output
      123 3 THE British Steel Corporation (BSC) has Informed the government and the trade unions Involved that It wants to close a large part of Its mill at Olengamock, Scotland. The mill provides Jobs for about 1,000 workers. The BSC estimates that It will lose £5.7
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    • Article
      Closing a loophole
      74 3 THE US House of Representatives passed legislation on Tuesday giving American companies preference In processing fish harvests within the US 370km fishing zone. The legislation closes a loophole Inadvertently left in the law which created the zone two years ago. The loophole would have resulted in foreign
      74 words
    • Article, Illustration
      Emission test for Rolls
      132 3 A Rolls-Royce Silver Shadow II (above) undergoes exhaust emission tests at Rolls-Royce Motors' new laboratory in northern England. The test, using a chassis dynomometer, ensures that all the company's cars can meet exhaust emission regulations in this case, those of the US before being ex- ported.
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    • Article
      Lock icon Trial endangers US, Soviet trade deals
      815 3 NYT, UPI. THE White House Is re-exa-mining the planned sale ol oil-drllllng equipment tc the Soviet Union in what officials said was a possible prelude to the cancellation of this and other trade deals In retaliation for Moscow's trials of two dissidents. The move
      NYT,; UPI.  -  815 words
    • WORLD IN BRIEF
      • Article
        Lock icon EXIMBANK FOR TAIWAN
        479 3 Agencies. TAIWAN'S Legislative Yuan (Assembly) passed draft regulations for establishment of an export-import bank, which now go to the President for ratification. The Central News Agency reported that the exlmbank, with an initial capital of Taiwanese (NT) $10 billion, (SSSIO million) will provide export-Import guarantees and credits,
        Agencies.  -  479 words
    • Article
      June sterling M-3 will be little changed
      267 3 UK FINANCIAL analysts said sterling M-3 money supply for June is likely to be little changed bawd on figures for UK banks' eligible liabilities In May, M-3 rose 0.8 per cent (Eligible liabilities are a useful if erratic guide to the M-3 monetary
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    • Article
      Drought threatens Kiangsi crops
      162 3 RICE, cotton and other crops in China's Klangsl Province are being threatened by "serious drought" and an increase In pests. According to an urgent circular Issued by provincial leadership organs, the drought is likely to get worse by the end of the month, the middle of
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    • Article
      Lock icon Saudi Arabia reins in runaway inflation
      824 3 Reuter. SAUDI officials have reported dramatic success In reducing their country's high Inflation which was hampering development. Saudi Arabia's 143-billion riyal (5594.3 billion) flve£ear development plan, lunched In 1975, ran up against appalling problems caused by Inflation during j Its first two years. According
      Reuter.  -  824 words
    • Article
      No let-up in bid to cut capital gains tax
      1407 3 THE U8 House Ways and Means Committee Intends P«»» on next week with 1 the legislation to cut capital gains taxes as efforts by the Carter Administration to head off sharp reductions have made no visible pro--1 gress. "I've seen no
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    • Article
      Lock icon Australia woos foreign investment
      349 3 AP, AFP. THE SPEAKER of Australia's House of Representatives has encouraged foreign investment in his nation's mineral and agricultural industries. Sir Billy Snedden told businessmen at an American Australian Association lunch in New York that Australia welcomed capital Inflow to develop its Immense fundamental wealth. Insisting
      AP,; AFP.  -  349 words
    • Article
      Lock icon Senate okays $83b spending on weapons
      388 3 AP. THE US Senate on Tuesday approved a US$36 billion (SSB3 billion) military authorisation bill Including $2 billion for an American nuclear aircraft carrier that could be the last in a long line of the giant ships. The bill, authorising funds for weapons spending
      AP.  -  388 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      96 3 I Near the new fly-over at Bukit Timah/Farrer/Adani Road junction At 4Vi mites Bukit Timah Road, opposite Hwa Chong Junior College W FIRST CLASS RESIDENTIAL AREA SPACIOUS GARDENS Most ideal and luxurious split-level garden houses on hill-top land Treat yourself to the Refreshing atmosphere luxuriant greenery and with continuous cool
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER
      524 4 OPENING quotations yesterday were marked up 1.25 cents following higher London advices, but prices eased back about one cent on profit-taking. After midday, the market firmed again on trade demand for forwards, short-covering and fresh speculative buying. Turnover was moderate. The morning market finished uncertain with
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    • Article
      R.A.S. PRICES
      315 4 Prices in cents per kilo yesterday: Noon (per kilo) Close (per kilo) Int. 1 R S 3 prompt f.o.b. Int. 1 R.S.S. August Int. 1 R.S.S. September Int. 2 R.S.S. UK/Cont. Int. 3R S.S. UK/Cont Int. 4 R.S.S. UK/Cont Int. 5 R.S.S. UK/Cont Buyers 227.50 228.25 228.50 218.00
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    • Article
      SSR AND SMR
      88 4 NOON S8R and SMR prices yesterday: RAS AH«11 _(Cwwi at t Mtk) September (Forward Mth) (crate per k() (oral laparkc) SSR20 (1 -ton pallet) 211.00 213.00N 212.00 214 00N SSR50 (1-ton pallet) 200.00 *****N 210.00 212.00N MRELB 8MR5CV (1-ton pallet) 230.50 238.SON 230.50 238.SON SMR SL (1-ton
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    • Article
      Closing prices
      31 4 Rubber: July 12 Singapore: August 229.00 cents (up 3.50 ccnta) Malaysia: August 223.00 cents (up 3.2S cents) Tin: M 51,71« (down 525) Official offering: 300 tonnee (up 94 tonnes)
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    • Article
      Rice
      201 4 BANGKOK rice prices were quoted as follows yesterday: (In US dollars per tonne F. 0.8. basis Bangkok) Whiu Woe: 100 pet Ist class 432. 100 pet 2nd class 417,100 pet 3rd class 412. 5 pet 403. 10 pet 385, 15 pet 377, 20 pet 372, 25 pet 302, 35
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    • Article
      Lead
      80 4 LEAD in London yesterday closed the morning ring up £6.5 for cash and £5.5 for Three Months. Prices forged ahead on fresh buying, UK consumer demand ana some producer buying In order to cover their commitments. The trend was also aided by some dealers undoing recent straddles against zinc,
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      Produce exchange
      358 4 ALL commodities held steady on the Singapore produce market yesterday. Coffee, at $330 per picul for AP 1, $295 per picul for AP 2, $300 for EK 1 and $280 for Robusta, was thought cheap enough for roasters to begin taking light Interest in the crop. However, they
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    • Article
      Coffee
      345 4 ROBUSTA futures In London yesterday ended an extended active opening call easier, £41 to £21 per tonne down from Tuesday night. Volume traded was 922 lots but, of this, 728 lots were traded In September. September lost £40 at £1,292 after trading within a high-low range of £1,315 to
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    • Article
      Cocoa
      193 4 COCOA futures in London yesterday established firstcall gains of £20 to £25 per tonne and tended to edge higher in opening trading. Dealers attributed much of the support to trade buying which probably entailed some price fixing. But the trade was also a seller at the scale-up, dealers said.
      193 words
    • Article
      Palm oil
      73 4 C.I.F. North European porti, in U8 dollar per ton unleaa otherwise state< LONDON: Tmtlir ThiIim Malaysia 5H f fa bulk per tonne 5#5»lr September SOOtlr Sumatra 5* f fa bulk July unq 700»lr August M7.54*lr fi&Salr September Mtelr/aoSpd fllOalr October S76«lr/5T7 VMr 5SIMr/S77 SOpd November 5«0»lr MOpd M6pd
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    • Article
      Straits tin
      249 4 THE BTRATTB tin price In Penang yesterday fell MS2S to $1,716 per plcul. The larger contribution of tin metal from miners coupled with lower London sentiment caused prices to weaken, while the drop was also a slight correction to the past few days' rises. Turnover Increased sharply to
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    • Article
      Sugar
      211 4 SUOAR futures in London yesterday opened £0.35 to £1.05 per tonne up on Tuesday's 5 p.m. levels In a turnover of 840 lots. Prices initially continued Tuesday's rally from recent llfe-of-contract lows with trade buying, shortcovering and easier sterling against the US dollar aiding the rise. However, without any
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    • Article
      Hongkong comex
      347 4 THE sugar market yesterday closed 0.07 to 0.12 US cents higher In continued featureless trading, with 10 lots traded against eight on Tuesday, dealers said. The Hongkong dally spot sugar rice rose 0.10 cents to 6.55. Sugar future* closing prices Closing Cltatai Sep 6.99/96 6.42/49 Oct 6.62/64 6
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      Soybean
      183 4 CHICAGO soybean futures on Tuesday closed with losses of 9Vfa to 1W US cents a bushel, but above the day's lows. Traders said the main feature was unwinding of bull spreads and local long liquidation. The decline In the nearby Gulf soybean bids, resulting from slow demand, encouraged selling
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    • Article
      Wheat
      119 4 WHEAT futures rallied late In the session to close mixed, off 1/2 cent a bushel to up 3/4 cent a bushel In Chicago on Tuesday. The late recovery was triggered by moderate buying of the September and December by four wire houses and local firms, traders said. But gains
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    • Article
      Copper
      292 4 COPPER wlrebars in London yesterday finished the morning up £5.5 for cash and €5 for Three Months. Values continued their recent advance on covering against a fairly broad front of physicsd demand which Included Japanese buying, dealers said. Three Months traded up to C 731 per tonne In the
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    • Article
      Silver
      190 4 THE Hongkong market yesterday eased 80 HK cents to close at the day's high of HK5245.70 per 10 ounces In continued featureless trading, with turnover estimated at 15,000 ounces. The local closing was equivalent to 5.2771 US cents per ounce, slightly higher than Tuesday's New York July closing of
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    • Article
      Gold
      420 4 THE KILOBAR In Singapore yesterday opened at 5513,854, remained stagnant throughout the morning session and firmed to close at $13,892. Spot gold for London delivery opened at U*****.50/ 80 and closed at US$lB5.OO/ 188.10. The London morning gold fix was U*****.70, up 20 cents on the previous Ax. Source:
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      Zinc
      58 4 ZINC In London yesterday finished the morning ud £0.25 all round. The metal was steady with support mainly stemming from chartist activity, dealers said. Three Months traded up to £325.5 in the ring but profit-taking trimmed prices on the kerb. Sales were 2,650 tonnes. On Tuesday, zinc on the
      58 words
    • MONEY AND EXCHANGE$
      • Article
        Singapore market
        566 4 THE US dollar was taken up another 100 points against the yen on the foreign exchange market yesterday, and also firmed against other major currencies. The yen counter was Sulet in the early part of the ay after the US dollar opened at 202.40/50. Buying support brought the
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        Asian $ & CD rates
        194 4 Asian CD rates A8IAN currency deposit Interbank rates as at clo«e on July 12: U8IMI Ofhr Ur.^4) 7dajra 77/8 1 mth 7 a/« 7 5/8 2 mth* 8 3/16 81/18 3 mth* 8 11/16 88/10 mth* 8 0 7/8 mUu .8V16 81/8 11 mth* 11/4 81/8 9m. FT*. DM (MUdl*
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        Discount
        43 4 RANOE of prices offered by discount houses on July 12: Overnight 3fc% Call deposit* 3*% (Mi 3-month Treasury bills 3-month Bank Mils 3-month CD 8-month CD 3 5/8 SB/16 8 9/16 S7/> 3 3/16 SI/16 87/16 53/4 Source: National Discount Co Ltd.
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        MLR
        21 4 THE average rat* at which Singapore banks are eoriwntly prepared to lead to their beat customers Is 7 per ent
        21 words
      • Article
        Treasury bill tender
        42 4 THE Monetary Authority of Singapore Invites banks and discount houses to tender for a total of $20 million 91day Treasury bills to be issued from July 17 to July 21. Each tender must not be for less than $250,000.00.
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        London
        187 4 THE dollar yesterday registered modest gains against most major currencies in opening trading, possibly on protective short-covering aheeul of the Bonn summit in case any statement emerges which would boost the US currency. It moved up to 2.0558/68 marks from 2.0495/ 0505 overnight and rose to 1.8195/ 8210 Swiss
        187 words
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        Tokyo
        124 4 THE US dollar for overnight delivery yesterday closed higher at 202.98 yen, compared with a 202.70 opening and 201.51 at Tuesday's close. The dollar rose in active late trading on buying by foreign and Japanese banks following an initial steadiness reflecting its overnight strength abroad, dealers said. Trading was
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        Hongkong
        130 4 IN FAIRLY quiet trading ahead of this weekend's Boon summit, the US dollar yesterday closed little changed from closing US levels. It closed at 202.80/ 90 yen from New York's 202.80/ 203.00 close and Its 202.65/75 opening, and at 2.0495/ 505 marks against New York's closing 2.0490/ 500 and
        130 words
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        New York
        153 4 THE dollar turned slightly higher in light trading on Tuesday, with some dealers commenting that the US currency's ability to halt the recent slide was probably more significant than the actual extent of any gains. Among closing prices, the mark was quoted at 48.78/80 compared with 48.90/93 overnight,
        153 words
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        Euro $ rates
        135 4 Euro rates FIXED date Eurodollar deposit rates in London yesterday were adjusted lower for the Friday dealing technically while short dates opened mostly steady In overall quiet trading. Initial technical falls in periods ranged from around In One Month to 1/16 in longer positions, with a Friday end-of-perlod an additional
        135 words
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        Australia/NZ
        54 4 AUSTRALIA and New Zealand exchanges on July 12: AUSTRALIA: US dollar *****/ 1.1443 Starting .611 V 6046 Ninety-day airmail buying ratea: Sterling 0.6315 US dollar ***** Ninety-day forward baying ratea: Stertli* 0.4122 U8 dollar 1.1432 NSW ZEALAND: Starling 0.9612/ 0.5452 US doJtr 1.0416/ 1.0316 Ninety-day airmail buying rataa: Sterling
        54 words
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        Zurich
        54 4 ZURICH exchanges closing quotes on July 11: US *****-6166 Btg > 4213-4266 Can *****-6306 D Mk 66 4676-5752 O F1 82.0000-1046 r rr 60.7082-6348 B Ft 5 6301-6273 D Kr 32.3616-4172 N Kr 33.6041-7044 8 Kr 30.06M-60.01ip Lit 0 .2130-Sl4l Aua ach 12 2004-3000 Port 3.6061 6606 Spain 2.3371-3434
        54 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      98 4 The Love of ooking n u T» S #5 < -V N V* •v i/' V V® i r Kenneth Lo, dm wM known Chin— WFVWff inii ooucvt in# rvMvf to uw itcfi CMnn rftitfrtpg. end |Imi mi insight unique wey ef eating. Beginning with air s v t fit
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  • TRANSPORT
    • Article
      US started fare war, charges airline chief
      598 5  -  By CHAN BONG SOO THE SCANDINAVIAN Airlines president has accused the United States of undermining the air transport Industry worldwide by creating cut-throat competition, among other things. The Airlines president, Mr. Knut Hagrup emphasised that the present regulatory chaos in which airlines are
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      Aircraft's foreign content
      106 5 UP TO 40 per cent of the content of British Aerospace Corporation's new mini airliner, the 80seater HE-146, could come from overseas, it was announced on Tuesday. The go-ahead for the jet was announced in Parliament and already messages have gone out to 53 International airlines who
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    • Article
      LONDON FREIGHT MARKET
      236 5 THE chartering accent switched from the West to the East as a rash of time charter business took place in the Japan delivery area. This Involved vessels ot wide ranging sizes. In the smaller categories Johnson Line booked the 15,113 dwt Theodors A.S. at $4,000 a day
      236 words
    • Article
      Freight indices
      70 5 NORWEGIAN Shipping News has announced its worldwide Indices for June, with May comparisons. Dry cargo single voyage charter 138.1 against 147.9 and timecharter 206.6 against 197.3.' The June timecharter figure is the highest since January, 1975. Tankers VLCC/ ULCC 21.2 from 20.3, medium crude carriers 46.5 against 48.9,
      70 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      749 5 ARRIVALS Service Local Operator Number Time From MAS MH601 0700 KUL MAS MH682 0725 KCH SIA SQ101 0815 KUL MAS MH621 0840 PEN MAS MH607 0845 KUL MAS MH871 0945 PEN/KUL CPA CX710 1005 HLP RBA BI323 1010 BWN QIA GA980 1030 HLP MAS MH605 1030 KUL
      749 words
    • Article
      Lock icon Death knell for Pacific Far East Line
      328 5 AP. THE US government sued on Tuesday to take over three Pacific Far East Line cargo ships, virtually sounding the death knell of the financially troubled steamship line. The "preferred ship" mortgage foreclosure complaints covering some US$2l million (5148.3 million) owed on mortgages
      AP.  -  328 words
    • Article
      Lock icon Tighter security
      135 5 AP. ABOUT 1,000 people are being recruited to tighten security at the Kuala Lumpur international airport and other Malaysian airports. Communications Minister V. Manlckavasagam said on Tuesday that as soon as recruitment and training are completed, they would be posted to the various airports and would be under
      AP.  -  135 words
    • Article
      Lock icon Sharp fall in Tokyo ship order tonnage
      640 5 Reuter, AFP JAPANESE shipyards won orders (or 13 ships from foreign owners In June, up from 11 In May, but the month's tonnage fell sharply to 70,748 gross tonnes from 153,357 In May. The Japan Ship Exporters Association said the June total, comprising
      Reuter,; AFP  -  640 words
    • Article
      15-day delay at Buenos Aires port
      379 5 A MONTH-LONO work slowdown by stevedores and tugboat crewmen seeking a doubling of their wages has caused a 15-day delay for cargo vessels waiting to enter Buenos Aires Port. Seventy-nine vessels lined up on Tuesday outside the port, where only seven were able to
      379 words
    • Article
      PanAm sues CAB
      127 5 PAN AMERICAN World Airways said it filed suit to prevent the US Civil Aeronautics Board rescinding Its order suspending Air France flights between Lot Angeles and Paris until the French government allows PanAm to resume service between San Francisco and Paris. The suit was filed in the
      127 words
    • Article, Illustration
      SHIPS IN PORT
      436 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bunga Mas (after Western River) 19 Cherry VUJa (B. Barge) (0800 40/41 Crikvenica (after Jurata) 33/34 Elbhoff (after Cereza) 5 Eugeninusz Eugenlnusz Kwlatkowskl (after Divnogorsk Cecllle Maersk) 35/36 King Tower (0600 22 Kota Slngapura (1200) 42/43 Kyosei Maru (after Cecilie Maersk) 38/39
      436 words
    • Article
      REMOVING NORTHWEST'S CRUTCH
      208 5 THE US airline Industry's 19-year-old strike benefit fund Is under fire from Federal lawmakers fed up with the Northwest Orient Airlines shutdown that has disrupted the nation's air traffic since April. "We're getting awfully tired of this strike? says Senator John Melcher, whose Montana constituents depend heavily
      208 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      138 5 T-5 Don't let the language barrier stop you from wider r of. contacts I 1 e^v K x V :< *>< ri'V l°vV^VA \N L nO^^° \0 \N c* 4, r*"iAtMQH tmm i YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at home, while travelling in fact anywhere and any
      138 words
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  • Article
    Welcome move to closer cooperation
    597 6 NEWS that the Malaysian Industrial development authorities are to open an Investment promotions office In Singapore gratifies as much as it puzzles. Gratification comes In the shape of Malaysian government recognition that the Republic plays and continues to play an Important role in the Federation's
    597 words
  • Article, Illustration
    Lock icon Help! get us out of the web . . .
    2296 6 Help! get us out of the web THE GREAT URANIUM SCANDAL It's personal for Jerry McAfee, chairman of Gulf Oil Corp, and it's a business gamble for Robert E. Kirby, chairman of the Westinghouse Electric Corp. It is also the largest private legal battle ever, with billions of dollars in
    NYT  -  2,296 words
  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      224 6 /Ti icimyjiirremtitmTS HenkeUTrocken The award-winning sparkling wine from Germany. Another quality product from ffifMN DRAGON PALACE And now, try our chef's new menu of a wide selection of delicious dishes. OPf N S V. I f KDAYS: SUNDAYS r, PUBLIC HOI IDAYS: 4 < V- "/< > Corkpil Ifiotri I
      224 words
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      Page 6 Advertisements Column 2
      46 6 IMs m m 4 0 r J i f After a long day, enjoy a cool, relaxing drink and listen to some good pap, blues, evergreen and jazz. If you have a special request just let the bend know. Appearing nightly, except Mondays at the 5
      46 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      62 6 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 12 at the airport: Maximum Temperature 30.7° C Associated Humidity 68 Minimum Temperature 23.0° C Associated Humidity 98 Hours of Sunshine 3.30 Rainfall in Millimetres Trace Total
      62 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      276 6 SINGAPORE 5 3.00 PM Opening announcements followed by African Waterhole 0 3.30 Diary Of Events (Chinese) 0 3.35 Eight Heroes Of Shou Lin with English subtitles A Mandarin drama serial 4.20 Intermission 6.00 Opening announcements followed by Lassie Vigil Of The Stork 0 6.30 News in Brief 6.35 The Living
      276 words
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  • Article
    Lock icon Memories of a great empire
    872 7  -  *y JOHN ORGAN Reuter BRITAIN remembers its recent empire, the largest in history, with more bewilderment than regret. It is a topic which is still avoided. Even now there ,is scarcely a politician to be found who would dare to pronounce publicly that Britain's national
    Reuter  -  872 words
  • Article, Illustration
    Nearer to that Zurich of the East dream
    1136 7  -  By SOH TIANG KENG A SUCCESSION of sweeping measures announced by the Government this year has turned Singapore's financial structure into a freer, more competitive system. Singapore, many experts agree, is moving towards a laissez-faire financial environment. This development will sharpen the
    1,136 words
  • Article
    STRAWS IN THE WIND
    849 7 THE Chinese banking presence in London is all the talk of the town just now, what with the Bank of China opening up In Soho amid Chinese restaurantland, In a bid for the rich remittance harvest. It will be competing for tne patronage of the Qerrard
    849 words
  • Article
    Keep your fingers crossed
    708 7  -  IFORPM, ...on economics »y GREGORY NOKES Gregory Nokes is a writer for Associated Press. i THE Americans might not t be aware of it for awhile, but the economic summit conference which Presl- > dent Carter will attend in f Germany this weekend, could help put
    708 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      309 7 'i Lunch TODAY OKOH > JP*K 3 fv: V 3- 9 3 branches for your convenience: SINGAPORE OKOH I Supreme House, Penang Road. Tel *****1 OKOH OF GINZA Hong Leong Bldg Raffles Quay. Tel *****81 KATSURA Orch<d Inn, Dunearn Rd Tel: *****2 Enchanted evenings in fine European tradition. Mirabelle J
      309 words
  • Page 7 Miscellaneous
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  • INTERNATIONAL STOCKS MARKETS
    • Article
      Rumours lift stocks
      1103 8 NEW YORK STOCKS rose sharply on Tuesday, on rumours that oil was discovered In the Baltimore canyon. but later gave back some of their gains. Analysts also said increased buying activity by Institutions In the last few days continued, And '.some firming of the dollar also -.aided
      1,103 words
    • Article
      Jo'burg
      179 8 OOLD SHARES on Tuesday were mixed on the stock exchange. reflecting varied sentiment on the bullion price. Mining flnanclals were unchanged to firmer with GFBA posting an 80-cent rise to 2,420. and Johnles. a 50-cent gain to 2.350. JULY 11 Rand MININGS Anglos 570 -5 Anglvaal 1325 25 Beffels
      179 words
    • Article
      Toronto
      198 8 JULY II c» Abttlbl 13 unch Alcan 30 unch A1 go ma 20'. Bank Mont 22% Bank Nova Scotia 20". Bell Tel 57 Beth Corp BP Can Ltd 15* unch Brascan 16 Camp Red Lake 36* Can Imp Bk 28'. Canpar 19* unch Canpac Inv PI 16B unch Carting
      198 words
    • Article
      Amsterdam firms
      427 8 EUROPEAN MARKETS AMSTERDAM share prices were firmer on Tuesday, following the slight recovery of the dollar, led by Royal Dutch and Unilever in Dutch internationals. Elsewhere, firm shares Included Oce-Van Der Orlnten, Helneken, Bljenkorf and Amfas. Most shippings and transports lost some ground. State loans edged higher. Turnover
      427 words
    • Article
      Amsterdam
      226 8 JULY II FU ABN 305 00 +0.5 Ahold 105 50 +0.8 Akzo 28 70 +0.2 AMEV 8170 +0.5 Am fas 104 00 1 Amrot Bank 75 90 +0.2 Bergoss 54 00 -1 Bfrk 91.00 -0.1 Bo Is 70 90 +0 4 BorsumiJ 157 00 -0.5 Burhmann 71.20 unch Byenkorf
      226 words
    • Article
      Paris
      266 8 JULY 11 Frs CORBEILLE Alr-Llqutde B S N Oervals Danone CSF(ThomsonC»f) Cle Francalse dpi Petroles Compagnle Financlere Compagnif Of ne rale Credit Foncler De France Hachette (Librairie) Machines Bull Mlchelln(B) Parlbas Pechlney Clglne Kuhlmann Peugeot' Philip* (Nv Oem Bezit) PrlntempsSA Rhone-Poulende SA Royal Dutch SuewCle Flnan De) Thomson-Brandt Uslnor
      266 words
    • Article
      Milan
      99 8 JULY 11 Lire Ante n •2 Assoc Gen ***** -320 Bastogl 452 -17 Cenlrale 3682 -56 Flat 1790 -19 Flnslder 120 -a Gen Immob 74 -0.25 IFIPn 2222 •13 Italcementl ***** -285 Ilalgas 898 ♦4 Italslder 238 50 -11.5 Magneti MP! 510 -5 Marelll Ere 305 50 -11 25
      99 words
    • Article
      Frankfurt
      229 8 JULY II Dm Aef-Telerunken 77 40 ♦0.3 Akto 28 50 ♦0.2 A1U Leben 670 unch Alta Vers 475 -2 BASF 130 30 -0 8 Bay H T Wbank 288 Bay Vbank 31# SOB-0.5 Bayer 132 80 -0.2 BBC 309 ♦2.3 BMW 248 00 -2 Cassella 387 ♦4 Chem Verw
      229 words
    • Article
      Brussels
      93 8 JULY 11 Ft* FORWARD MARKET Acec 310 -4 Arbed 2355 +20 Astur 820 20 Brascar, *#8 +4 Bru-Lamb 1520 +20 Canpac 548 14 Cock 471 1 De Be«n 188 unch Ebes 2230 unch Eleclrobel 6550 -10 Ob-Inno-Bm 2225 15 Qev 1300 +2 Hobok 2450 50 Prtro 3740 +50 Ryl
      93 words
    • Article
      Zurich
      183 8 JULY 11 Francs ActionsSuisses 285 unch Alusuisse Br 1240 unch Alusuisse Ref Brown Bovcri Br. soe 1645 ♦1 Cite CMcy Br 1119 >28 CiteCMoPC M 25 Ote Oclo Dm Credit Suisse Br MT siao +3 *■5 Credit Suisse Ref 410 ♦3 Dektrowatt Br. 1740 unch Oeorfe Fischer Br 666
      183 words
    • Article
      Selected indices
      59 8 Monday 109* to 109% FINANCIAL TIMES INDUSTRIALS H.K. HANG SENG Wednesday 574.77 Tuesday 580 42 Week Abo 574 72 DOW JONES AVERAGE SYDNEY INDUSTRIALS INDUSTRIALS Wednesday 428.04 Tuesday 428.72 Monday 816 79 Week Ago 425 14 Week Ago Closed ALL OR DIN ARIES LONDON DOLLAR Wednesday 501.18 PREMIUM
      59 words
    • Article
      Lock icon Hongkong
      341 8 Source: SHK Sec DESPITE a very firm performance In London overnight, HK shares had a slow start yesterday morning with prices only marginally better as Interest was unsustalned. Light selling pressure eroded the gains by lunchtlme, but In a flurry of activity following rumours that the HK bank Intends
      Source: SHK Sec  -  341 words
    • Article
      Bangkok
      219 8 THE stock market fell In light trading yesterday with the Book Club index falling 0.53 point to 184.15 on turnover of 13.7 million baht. Dealers said many shares, Including those in the bank, financial and cement groups remained unchanged, while several others were untraded. In Industry shares, South Asia
      219 words
    • Article
      CHICAGO BOARD OPTIONS
      1593 8 July 11 CHICAGO Board Options Exchange volume rose to 122,452 contracts on Tuesday from 94,361 on Monday. OPTION JLY OCT JAN STOCK Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel AtlR AtlR AtlR Avon Avon-P Avon Avon-P Avon Avon-P Avon Avon-P 40 45 SO 55 80
      1,593 words
    • Article
      Lock icon Capital issues retreat
      596 8 TOKYO Source: DBS-Daiwa PUBLIC WORK-reiated issues continued to rise yesterday due to buying by Institutional Investors. However, the Nikkei Dow Jones average closed the day with a slight loss. Large capital Issues such as Hitachi and Mitsubishi Electric, and some light electrlcals retreated towards the close. The
      Source: DBS-Daiwa  -  596 words
    • Article
      Sydney
      374 8 BHP AND some leading mining stocks firmed In yesterday's active market. BHP rose 10 to A 57.64. another year's high, on continuing speculation about Its oil and gas search In Bass Strait. Among miners, Mount Isa Mines rose 10 to 12.20, Hamersley 10 to $2.30 and Bougainville Copper six
      374 words
    • Article
      Manila
      113 8 THE market yesterday cloWd mixed with minings and oils posting slight gains w&lle commercials declined. Turnover rose to 9.07 million pesos from Tuesday's 0.85 million. ..>• JULY 11 Peao* Aco)clClnlnc AtlaiCon A AUuCon B BftffuioOoM Bencuet Con. B BFOoodrtcil CDCP Inco B Landoll Lepanto B Marlnduque B Meralco Oriental
      113 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      526 8 This Month's New Penguins Edna OBrien Mother Ireland Sl. J A. THE MEW PSYCHOLOGY OF OPEAMiftiG C'> Mother Ireland: Edna O'Brien Mother Ireland jc 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'fiearsay. This
      526 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Shell fails to find oil and gas off New Jersey
      832 9 N.AMERICAN L SHELL announced that Its r flrst effort to find oil and gas off the New Jersey coast -had failed, and that it was abandoning its first ex"lptoratory well in the under seas Baltimore canyon trough, 117 km east
      832 words
    • Article
      Lock icon MAREMONT GETS SET FOR EXPANSION
      928 9 FT JUST at the start of Its second century of} operations, the formed ■tag* coach builder, liar—iont Corporation. 1s In the process of entering a new and expansive phase, having sloughed off a large partof 1L& former activities. -The Chicago company has, In recent years,
      FT  -  928 words
    • Article
      Lock icon Upturn carries Hitachi to new highs
      482 9 f ASIAN FT. TOKYO: The recovery in the performance of Hitachi and Its 40 consolidated subsidiaries carried the group to new highs In the year to March 31. Consolidated net profits rose 11 per cent to a record Y 77.85 billion. Net profits In
      FT.  -  482 words
    • Article
      Lock icon NATIONAL COMMERCIAL BANK OFFERS SHARES
      172 9 Reuter JEDDAH: An official of the National Commercial Bank, Saudi Arabia's biggest financial institution, confinned that the bank will invite public subscription of about 30 per cent of its thirty billion riyal assets. A report in the Londonbased Asharq Al-Awsat Arabic daily said the Saudi
      Reuter  -  172 words
    • Article
      Lock icon Tropicana holders approve Beatrice merger
      155 9 Reuter TROPICANA Products Inc said shareholders approved its proposed merger Into a Beatrice Foods Co unit. Tropicana said about 87.5 per cent of Its outstanding shares were deposited for conversion into cash or stock In the proposed merger. The company estimated upon completion, about 52
      Reuter  -  155 words
    • Article
      Lock icon Record sales boost Caterpillar
      167 9 Reuter CATERPILLAR Tractor Co announces the following second quarter results: SHR: US$l.74 vs $1.36. SHR diluted: $1.68 vs $1.31. Net: $150.2 million vs $117.1 million. Sales: $1.84 billion vs $1.45 billion. Six months: SHR $3.12 vs $2.50. SHR diluted: $3.02 vs $2.42. Net: $269.6 million vs
      Reuter  -  167 words
    • Article
      Lock icon Glass maker gives up Nippon
      121 9 UPI. LIBBEY OWENS FORD Co, an American glass maker of Toledo, Ohio, will turn over Its entire stock ownership In Nippon Sheet Olass Co. to the Sumitomo business group, the Japanese company said. The company, based In Osaka, said the American firm will transfer 24
      UPI.  -  121 words
    • Article
      VW owes profit rise to upswing in Mexico
      303 9 f EUROPEAN WOLFBBURO: Volkswagenwerk AO's earnings Improved in the first half of 1978 from last year, the chairman, Tonl Schmuecker, said. The Improvement was due to a profitable market structure, an upswing In Mexico, and signs of progress In Brazil, he said.
      303 words
    • Article
      Lock icon BEECHAM OFFER
      84 9 Reuter LONDON: Beecham Group Ltd said it will make a £14 million offer for the share capital of Scott and Bowne Ltd. The offer will be made for the share capital of Scott and Bowne as proposed to be reorganised at the request of Beecham with terms of
      Reuter  -  84 words
    • Article
      Lock icon Accord on Ninian interests
      169 9 Reuter. LONDON: The British government and the stateowned British National Oil Corp (BNOC) have signed an agreement with Imperial Chemical Industries Ltd (ICI), giving majority state participation in ICl's interest in the Nlnlan oil fields in the North Sea. Minister of State for Energy, Dickson Mabon
      Reuter.  -  169 words
    • Article
      Geo Bassett suffers a second half setback
      291 9 A SECOND-HALF fall from C 1.54 million to £1.06 million at Geo Bassett Holdings left the full year, to March, 31, 1978, pre-tax profit down slightly at £3.02 million against £3.05 million. Turnover was ahead from 176.6 million to £93.28 million and Included
      291 words
    • Article
      Bank calls for more data
      104 9 ZURICH: The Swiss National Bank has called on Switzerland's bank and finance companies to supply details of securities deposited with them for administration. The information will be required from the end of 1979 as a basis for Switerland's first deposit statistics. At the same time,
      104 words
    • Article
      Lock icon Thorn Int'l eurobond
      166 9 bonds^^ANS] Reuter LONDON: A coupon of 6* per cent is expected on the forthcoming US$25 million issue of convertible guaranteed bonds, due 1988, by Thorn International Finance BV, syndicate leader Hambros Bank Ltd said. The issue will be convertible into the ordinary shares of parent company Thorn
      Reuter  -  166 words
    • Article
      Lock icon Boots fixes terms
      97 9 Reuter. LONDON: The Boots Co Ltd's US$3O million 6% per cent convertible bond due 1993 has been priced at par. Lead manager J. Henry Schroder Wagg and Co Ltd said the conversion price was fixed at 216 pence per ordinary share, representing a premium of 6.93 per
      Reuter.  -  97 words
    • Article
      Lock icon EIB
      37 9 Reuter LUXEMBOURG: The European Investment Bank (EIB) is making a 250 million Luxembourg franc 10 year 7-* per cent private placement at par. Primary market sources said lead manager is Banque Internationale A Luxembourg SA. Reuter
      Reuter  -  37 words
    • Article
      Lock icon Ricoh
      41 9 Reuter LONDON: The 70 million mark eight-year convertible bond for Ricoh Co Ltd was priced at par and the 30 million mark five-year straight issue was priced at 99.5 per cent, Nomura Europe NV said as Joint lead manager. Reuter
      Reuter  -  41 words
    • Article
      Rediffusion replaces auditors
      670 9 DIRECTORS OF Rediffusion have moved to replace the existing auditors of the group with Deloltte Hasklns and Sells, the auditors of Rediffusion's parent, British Electric Traction Company. The existing Joint auditors, Binder Hamlyn and Fryer Whltehlll and Co, however, have not withdrawn. They say that as they
      670 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      202 9 Mathematics and Statistics Statistics in Action: Peter Sprent This book is intended to interest the Mneral reader who wants to become familiar with this subject, as well as a prelude to further study and a complement to formal elementary textbooks for those who wish to go to statistics in more
      202 words
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  • DEALS DONE ON THE SES AND KLSE
    • Article
      In Singapore
      1640 10 BID and offer prices officially luted and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded ahown In brackets In lots of 1,000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "sett". Ettg Board deal
      1,640 words
    • Article
      Government bonds
      123 10 4 3/4% IS/9/80 (256,000) (100 308 100 508) 5* T F 15/4/81 (250,000) (100.508 100.708) 5 V 4% T F 250,000) (102.855) 7% 15/4/85 (250.000) (100.858 101.008) 7 1/4% 15/4/86 (250,000) (100.SOB) 7 1/4% 15/16/ M (250,000) (100.75B) 7 1/4% 1/8/87 (250,000) (100.75B) 8 V 4% T F
      123 words
    • Article
      Corporate bonds
      139 10 B O T 8 1/2% 1961 (100.000) (99*8 100*8) B O T 7 5/8% 1964 (100,000) (93%8 94*8) C Itoh 8 1/8% 1964 (100,000) (958 9558) DBS Converts 6 1/2% 1991 (100.000) (998 D B S 8 1/2% 1962 (100.000) (99 *B 99*8) E I B 9% 1982
      139 words
  • Article
    SHARE INFORMATION SERVICE
    2494 10 1978 High Low C«a|U]r Last Sale +erGr's Or*! Net Dhr Dhr YH P/E Crr Vel Day (•000) High Lew ill 6 SECTION ONE INDUSTRIALS J" 230 r 233 J. 172 260 83 276 268 .♦i 210* 478 132 Acma 123* Alcom 112 Allied Choc 195* Bata 60*
    2,494 words
  • Article
    Unit trusts
    143 10 SINGAPORE UNIT TRUST INCOME BOND UNIT (Maaagars' price far July IS) (Correal pr Ml) The Commerce.... 2.13 226 INCOME BOND 1.07 1.12 The Saving Fund 135 143 S pore Prog Fund 106 1.11 MARA BUMIPUTRA FUND S poreSecurlty 1.07 200 (Maaagert' prices First Bumlputra far July IS) 2.05
    143 words
  • Article
    In Kuala Lumpur
    1749 10 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Btook Exchange yesterday with the number of shares traded shown In brackets In lots of 1.000 units unless otherwise specified. INDUSTRIALS AJlnamata (2.808) (1) 2.54. Atom (2 338 2.308) <t) 2 41
    1,749 words
  • Article, Illustration
    Market hit by profit-taking
    886 10 NERVOUS tntei bent on profit-taking weakened price* oa the Stock Exchange of Singapore yeeterplantation atocka wuthwrri the jittery tide hotter than the root of the Doaro. some ttocu wmcii registered good price gains in the morning were gradually worn down in the later part of the
    886 words
  • Article
    KLSE closes mixed to easier
    634 10 FAIRLY heavy profittaking eroded prices at the Kuala Lumpur stock market yesterday. The closing was mixed to slightly easier. Plantation stocks, although subjected to some selling pressure in the afternoon, managed to close fairly steady. These actively traded counters were sustantlally higher during the morning
    634 words
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  • COMPANY NEWS
    • Article, Illustration
      Slowdown expected at New Serendah
      700 11  -  Br Our Reporter AFTER chalking up a hefty rise In pre-tax profit in 1977, New Serendah Rubber jCompany chairman, Mr. 'Q.S. Macdonald, expects profits to slow down In view of the previous years' drought and wintering which have affected the company's palm oil and rubber
      700 words
    • Article
      Esso to drill another twelve wells
      263 11 ESSO Production Malaysia Incorporated will drill an .additional 12 wells before the end of the year in Its contract area off the coast of Trengg&nu. The plans have been approved by Petronas. The drilling cost per well, according to a Joint statement issued by
      263 words
    • Article
      HONG LEONG FINANCE
      45 11 HONG Leong Finance Ltd. has announced that as at June 30,1978, foreigners own or control 0.72 per cent of its issued share capital. The company made the announcement pursuant to Article 39(c) of its Articles 'of Association after receiving declarations from shareholders.
      45 words
    • Article
      COMPANY . MEETINGS
      158 11 COMPANY MEETINGS 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: AQM to be held at 70, Jalan Ampang, Kuala Lumpur, at 2.30p.m. on July 18. Metal Box Singapore Ltd:
      158 words
    • Article
      SHC note
      32 11 IN a letter to the KLSE, Sin Heng Chan says that Its shareholders have approved the bonus Issue of one for four at the extraordinary general meeting on June 30.
      32 words
    • Article
      DIVIDENDS ANNOUNCED
      442 11 Currant payment Ex Date Book* cloae Data payable Total for the year Total Cur previou* year Nat Iron Loan M. FeedmilU Acma CCM Metal Box Bbd D Keramat Sin Hong Chan Keck Seng Dutch Baby S.M. Ind. N.B. Timber* Sin Chaw Town City C. Properties M. Container* Lien
      442 words
    • Article
      SCRIP ISSUES
      166 11 Company Particulars Ex Date Books Close Strait* Trading Oriental Holdin«» WWrineon M. Flow P»«i Ma lay *la Grnnt fcaatarn Lift M'aia Feedmilla Li«o Hoe Sentoaa Plywood Synthetic Retina Bonus Issue-of 1 for 3 Bonus Issue of 1 for 2 Bonus Issue of 1 for 4 Bonus Issue of
      166 words
    • Article
      Technical factors are behind the current strength
      424 11  -  Market Talk... By TSANG SAU YIN THE immediate answer for the current strength of the plantation sector lies fn technical, not fundamental, factors, said Laurence, Prust and Company, brokers and members of the London Stock Exchange. Making some observations in their latest weekly
      424 words
    • Article
      Hongkong Tin in the red again
      415 11 DESPITE a huge increase in revenue from a much higher output from Its new open cast mine, Hongkong Tin has again reported a loss in Its Interim results, due mainly to high costs of production. While proceeds from tin ore sales have Jumped to
      415 words
    • Article, Illustration
      Jardines scheme over all the major hurdles
      329 11 MINORITY hare holders of Jardine Matheson (Southeast Asia) have come out in favour of the scheme of reconstruction announced in April this year, under which JM (SEA) will become a wholly-owned subsidiary of Jardine Matheson A Company Ltd (Jardines). At the meeting of
      329 words
    • Article
      Metal Box may see hard times
      970 11  -  By LOW LEE CHOO ALTHOUGH Metal Box Berhad's chairman Tan Sri Datuk Hamzah Sendut has refrained from any positive comments on the group's current prospects In the annual report, judging from the escalating costs of certain basic raw materials and the continuing Inflationary tendencies
      970 words
  • Page 11 Advertisements
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      Page 11 Advertisements Column 1
      173 11 ONE GOOD PUBLICATION THAT'S worth a thousand watts If you're into hi-fi, you'll certainly enjoy reading The Craft of Sound a Handbook of Hi-Fi Hints, filled with interesting and essential features for all hi-fi enthusiasts to improve his listening pleasures. Wouldn't it be worth your while to make a mere
      173 words
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  • Article
    Lock icon Judicious choice of policies needed
    583 12 Agencies. A US budget watchdog agency warned that using both monetary and fiscal policies to reduce Inflation may create a recession. The head of the Congressional Budget Office, Alice Rlvlln warned against the dangers of monetary and fiscal over-reaction to the acceleration of price Increases
    Agencies.  -  583 words
  • Article
    Consumer confidence rises
    237 12 THE US Conference Board said US consumer confidence allowed improvement in June after four months of successive declines. The board's consumer confidence Index (base 1969/70) rose to 92.4 in June from 88.8 in May and the buying plans index rose to 1172 in June from 97.1 in
    237 words
  • Article, Illustration
    Lock icon EMERGENCY IMPORTS
    546 12 Reuter JAPAN'S emergency imports to reduce its large trade surpluses will exceed US$4 billion (559.2 billion), the Economic Planning Agency said. Details of the estimate made by the government's Headquarters for emergency balance of payments measures, and headed by EPA Director-General Kllchl Miyazawa and other vice-ministers of government
    Reuter  -  546 words
  • Article
    Outlook for profits
    149 12 PRE-TAX profits and special items of 100 leading Japanese companies will rise by an average 1.4 per cent in the current year ending March 31, 1979, even if the yen-US dollar exchange rate averages 190 yen. The financial dally Nlhon Kezal Suimbun said a survey of the
    149 words
  • Article
    LONDON STOCKS
    776 12 LONDON. Wed. Equities edged higher In generally light trading, while government bonds were barely tested. At 3 p.m. the Financial Times Index was up 4.5 at 471.8. Share prices were helped by Indications of lower British money supply growth, and a stock shortage. Bonds were depressed ahead the
    776 words
  • Article
    No direct Malaysian timber exports to Singapore soon
    231 12 THE Malaysia! imwuMit will stop all direct export of ungraded timber from Peninsular Malaysia to Singapore from September. Instead, the timber will have to pane through the Johara part of Pasir Gudang. The Peaiasula Is Singapore's main euppUer •f sawn timber, most
    231 words
  • Article
    US won't be made a scapegoat
    71 12 PRESIDENT Carter will strongly resist any effort at the Bonn summit meeting to make the United States a scapegoat for the economic troubles of the lndustrallsed democracies. American officials reported that the President, having deplored congressional Inaction on energy, would emphasise In Bonn that
    71 words
  • Article, Illustration
    Hotel industry riding crest of major boom
    707 12  -  By SOH TIANG KENG IT IS now boom-time for Singapore's hotel Industry. Hoteliers are reporting the highest occupancy rates seen In recent years. Most leading hotels reported room occupancy rates of 90 per cent and more for the first half of this year.
    707 words
  • Article
    World Bank's yen bond sets record
    233 12 THE World Bank will issue a 75 billion yen (***** million) 15-year, 6.5 per cent bond at par on the Japanese capital market, with subscriptions starting today. Payment for the bond, the ninth yen issue by the World Bank in Japan, will be completed
    233 words
  • Article
    Lock icon Japan stalls talks charge
    69 12 Reuter. PRESIDENT Carter's chief trade negotiator Robert Strauss Indicated that the US felt Japan was holding up progress on five-year-old international trade talks aimed at setting trade rules for the next decade. Mr. Strauss said in Geneva: "We are rather pleased with the progress we have
    Reuter.  -  69 words
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      Page 12 Advertisements Column 1
      215 12 ingapore's business world fjk T C r/» Of s Of r)« S K"S Gill The most ca guide to Strai Directory ofSingapoce 1978 ehensive index and business scene. ■'u.. 'V>~_ a.'>, r S S '°o/ s The Straits Times Directory of Singaporel97B more popularly known as the'BukuMerah', carries more than
      215 words
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    SHIPPING TIMES
    3684 13 SCHEDULE A guide to ships loading at Singapore for Ports around the World The following list tabulates, by port of destination the name of the ship, the shiooinc Unt involved, and the eeumated dates of arrival and departure from Singapore port Seas Dote b has a feint service
    3,684 words
  • Page 13 Advertisements
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      397 13 Offers Regular monthly Express Conventional Sailing To ARABIAN-IRANIAN GULF fOf tu. ther detail% (.*ll Singapore *****46 Kuala Lumpur ***** Port Kelang *****0 Praann ***** 1 SHIPPING EVERGREEN LINE (EVERGREEN MARINE CORPORATION) FAR EAST/RED SEA, MEDITERRANEAN SEA EXPRESS FULL CONTAINER SERVICE also accepting cargo fo* GENOA. LATTAKIA. ICIRUT. ALEXANDRIA. BENGHAZI TRIPOLI
      397 words
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      Page 13 Advertisements Column 2
      436 13 LIAN SOON SHIPPING TRADING CO "(PTE > LU >. .'lO9 SHFNtON .'.'ooBl 1 |S I IN? S MOUSf SM[ NIGS Ai< S POBI .'?ou;o ..'o sfc9 .voi •*CHERRY MYA ULA MAT OA TANG M.V "CHERRY MANIS SENCHONC *M V 'LUNA MARINA M.V. GETAH KINABAIU **M V CHE MY CHANTER M
      436 words
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      Page 13 Advertisements Column 3
      353 13 .STRAITS TRANSPORTATION PTE. LTD COMPANIA NAVIERA MARASIA, S.A. rvu contunccsmip stwicf TO mo mm IMCfLOM IAKUONA P AEIANG SPORf S'POtf P KELAftCMICEIOM CKWUfI VAI tEUE kNH My 17 17 Mr 11 to(. 2 LAURO/VICEROY/GLOBAL JOINT SERVICE KGULM INDEPENDENT MOOT HIT OIMCT SEIWCE TO Vtfl IAGOS •A«SSEI' i-umn Auf 14/ IS
      353 words
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      Page 13 Advertisements Column 4
      208 13 NOTICES EVERETT STEAMSHIP CORPORATION S/A Vi "Fenudorrtntt" Voy. 58-W ARRD: 6.7.78 P.S.A. GDN. 18 Oeneral Survey on damaged cargo discharged ex the above vessel will be held on 13th July 1978 from 8.30 a.m. No further survey will be held after this date. vfT L A 1 MORE OFTEN. Nearlw
      208 words
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      Page 13 Advertisements Column 5
      0 13 <{&]*[{;=-,'?=}.\({$}?`^},$__>(
      0 words
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      785 14 SHIPPING FOLLV CONTAINERISED TO EUROPE BrtoM Eipras lUM|i Mwu T«ky*l*r 15/7 18/7 22/7 24/7 28/7 30/7 4/8 6/8 11/8 12/8 Iff 4/8 6/8 21 CityM Edin6ur|*i 11/8 12/8 31 EXPRESS CONVENTIONAL TO EUROPE S p«i MW** Mta* H'bW| B'luvtn Rdxn 16/7 18/7 U/8 4/8 WntfMu 3/8 4/8 5/8 28/8 23/8
      785 words
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      Page 14 Advertisements Column 2
      807 14 a SANKYO LINE AUSTRALIA SERVICE P. Kciang Support loading for: DIAMOND STAR H/2® FREM. ADEL. MEL. SVD TUt MAN 27/29 Jul* M/ 31 J*»V O*W. WIS, SVD. MEL MAYCARP 12/14 Aug 10/11 Auf BRIS, SYD, MEL BANGLADESH SERVICE MAY CARP 21/22 JULY 23/24 JULY CHITTAGONG, IY CARP 21/22 JULY 23/24
      807 words
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      463 14 SEA .LAND U.S.A./ ASIA SERVICE OUT REFRIGERATED CONTAINER SERVICE SAILING EVERY MEONESOAY FOt POiTS IN USA CANADA. CARIBBEAN WAN KOREA. TAIWAN HONG ROM. THAILANO ANO PHIIIPPIMS VESSEL/VOYAGE Vessel C.F.S. Closes uiah. rs. in.. u< Arrives/Defiarts b.OOPM WORLD LION V 4 My 19/20 July 17 PONCE V 329 July 25/26 July
      463 words
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      522 14 r ft /^rr M m C'i mm mm, w "EVERETT ORIEN lAPAN/MT OF BENGAL I* LOADING FM HONCRONC. Everett Steamship Corpn.S/A OSk SOUTH AMERICA SERVICE Iralwlln 2IMy Sarin. lia da la»a.ra .loapadM*,! Sacramaata In 2«(bf Santa* Hato laaaira. WWOJAim. EAST AFRICA SERVICE St. Loan Mary Sp« ?t Mr Uihqim Alliance
      522 words
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      396 14 I \KI>I\ W I \H Orient Overseas Co*Ud*teA Line FULLY CONTAINERISED SERVICE TO EUROPE (VIA SUEZ) All vessels all Bremerhaven after Hjmbuij FULLY CONTAINERISED SERVICE FROM EUROPE (VIA SUEZ) M AW* CbNTAiNtk IOE J*/7 MERCATOR7I 2/7 ORIENTAL CHIEF 9E W S. SEAS BRIDGE IK ORIENTAL RESEARCH X 11/1 CHEVALIER PAUL
      396 words
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      833 15 QC.L. Overseas Containers Limited MHg t> w/cwrriwiiT: irtwf t'pore P. Kalaa< D'mark I'M. »aim l« A'warp Havre WIIMT KUUCI CMiWM UT cm m riiMun TNMI NAN •UM UT uwm ut MMMM express it n hi ii h) 11 sif 11 u*(i7 it Uf n k* 11 m* ti sap it
      833 words
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      Page 15 Advertisements Column 2
      1071 15 Ben Ocean Afmtsennotafßian line. Blue FlMmeiGtenLme and NSUO TR R/CMTtMHT (M Sau) PENANS I MB SNIPPING *****. (Select ii num AMERICAN PRESIDE NT LINES r STRAITS BXVUM CONTAIN KB MtNVICB 1 Leadief tor *ew Yer*. emi Cust aad UM parts if MMmMh. Lea laptot. Saa Fraaoece IH Saattto. Sliumc P.
      1,071 words
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      Page 15 Advertisements Column 3
      875 15 rnr» 1 M I 14 I>K II M| II n, it M> *n lAn tAn im An) 11 TMTI MT 22 KIT 24 12 An 1* An 1} An II Alt I* NuiNk MM' mm it 11 **m *«> •> CIHIUI iAT 4An m H»n MA* It An llAaf M
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      Page 15 Advertisements Column 4
      1076 15 Scan Dutch 9 EXPRESS CONTAINER SERVICE VIA WESTBOUND TO MED/UK/ CONTINENT/SCANDINAVIA fHO*' t KeHNf »nul nit HOI* sum rant FRANCESC- if > ELEANORA J, 1 '•Mctsci n uui ELEANOR! 1/ I ritKiiU IV i EUtIMU 10/ I NES ■■i^im 1| Ra'ceWaa ttrt.l mMll acceitiag CW|« tar IUfIH UND FROM MED/UK/
      1,076 words
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      656 15 GUTHRIE BOUSTEAD agencies THE BANK LINE LTD. LUIS FN E. ft 1 WH TAYOANK (Mauritius Regn.cw. Zanl.ter. Durban. 1.L., PC.. CftpMcwi) P. Kelang Hill M Sport 10 11 M fbm ttn i um urica m iuuh. maniu OLIVEOANK Penang f Kilini S port J%!V M EXPRESS SERVICE BISECT FMi SINGAPORE
      656 words
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  • Page 16 Advertisements
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      913 16 KLINE iMiuM—uimmjiiiiina m sued »y c«t»«r vessels mini t» Imiiimi "TO nropi S'gore P. Kelang L.Havre H'burg Bremen R'dam A'werc NEPTHE PEARL 10W SM) 21 My lA* 11 An W** 13 Aof 15 An SnubHtt IST »mt »iJr n»n n»«t u«n rUN< CONTAINER 11W Stat I An 25 All 27
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      Page 16 Advertisements Column 2
      924 16 r A #/> E. C. -U. S.A. lATLAHTIC/6ULF SERVICE icccnwe ici/ict cmtiimb nan s««. r nunc. nut Lui.i( tar: NffffSU NEW TOW. lAITIMORE NEW WU»« HOUSTON S.ngapo/t p K|»| kMr '>■«« E.C./6REAT LAKES SERVICE UK* tar: NORFOLK. NEW TOM, KONTOAI. TMMT*. UIHMU. lETIOIT. CHICAGO. B »njng P "S.| WIST OEHGAL"
      924 words
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      1036 16 o k NEPTUNE ORIENT UNES LTD 'FULLY CONTAINERISED SERVICES: n EUROPE (VIA SK£NEPTUHE PUOLI 20 My 71 I*! T Ab( 11 Aag U CMC V All El ROZE 11 to; Slt| Ht« UN II LONCKONC CONTAINER S tec Aag 21 lag 71 Aag 21 hERCATOR 11 lag 12 Aag 20
      1,036 words
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      Page 16 Advertisements Column 4
      666 16 MALAYSIAN INTERNATIONAL SHIPPING CONPOPATKHT*OtMAD EXPRESS FULLY CONTAINERISED SERVICE TO'FROM MEO/UK/CONTINENT/SCANDINAVIA WEST MOM •p <«« S'N>l 1) MSlillf! X H«MI( 4) Gbti'l iiu imftq Far 1) lanilw (mi km CipMl Atciftai (mw u>|i ftr EAST MINI MM. Aftwfff L affl *rl».a*i 4) II iHMr hi S'parr EXPRESS CONVENTIONAL SERVICE TO UK/CONTINENT
      666 words
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      Page 16 Advertisements Column 5
      734 16 INTRASEA (PTE) LTD r ml'i"! i*'l S T oU'phOH*- I "RECNLAR INtEPENKNT SEMI/FOU CONTAINER SERVICE Tl EINfE S'sort P Kalaaf Paw sebmia uimnnii Sam sai.ee HHBK Wflll (Caatr (Ml 2 Aa| sea uudiu win mMf sb Mty 'Ac cat tot TkrM(l 81/ l tar uiar M Intatw AfMts: imtmn intbasea
      734 words