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Annual report of the Division of Commerce and Industry of the Ministry of Finance, Singapore, ...

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Annual report of the Division of Commerce and Industry of the Ministry of Finance, Singapore, ...
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Singapore -- Commerce -- Periodicals ( lcsh )
Industries -- Singapore -- Periodicals ( lcsh )
Commerce -- Singapore -- Periodicals ( lcsh )
商业 -- 新加坡 -- 期刊
行业 -- 新加坡 -- 期刊
新加坡 -- 商业 -- 期刊
商業 -- 新加坡 -- 期刊
行業 -- 新加坡 -- 期刊
新加坡 -- 商業 -- 期刊
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亚洲 - 新加坡
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ஆசியா - சிங்கப்பூர்
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Printed by the Government Printing Office. Singapore
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At head of title: "State of Singapore"

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Full Text
STATE OF SINGAPORE

ANNUAL REPORT
OF
THE DIVISION
OF
COMMERCE AND INDUSTRY
OF THE
MINISTRY OF FINANCE
SINGAPORE 1960

Printed by the Government Printing Office. Singapore

1963




CORRIGENDUM

Page 18: Under sub-heading Employment delete: Rubber processing
also showed an increase from 5,615 to 5,484 workers. and substitute

Employment in rubber processing, however, showed some decline from
5,615 workers to 5,484 workers.


CONTENTS

Chapter _ Page

I General ------ 1

II Trade ------- 2

III Industrial Development in 1960 --- 17

IV Exchange Control Department 22

V Forest Department ----- 25

VI Imports and Exports Control Department - 31

VII Supplies Department 34




Chapter I

GENERAL

Promotion of trade, other than by the effort of individual persons and
firms is carried out by the four main Chambers of Commerce namely the
Chinese, Indian, Malay and Singapore Chambers, the Singapore Manufacturers
Association and numerous other commercial and trading associations dealing
with specialised aspects of trade, commerce, shipping, insurance and finance.

Government assistance in trade promotion is the responsibility of the
Division of Commerce and Industry in the Ministry of Finance working to
the Minister for Finance. This Division is responsible for the specialist
Divisions of Foreign Exchange Control, Imports and Exports Control,
Supplies and the Timber Office, and is situated on the 2nd Floor of Fullerton
Building, Singapore 1 (Telephone: Singapore 27641. Telegraphic Address:
Seconomics, Singapore).

The Division of Commerce and Industry deals with enquiries for
information, provides lists of suppliers of locally manufactured and processed
goods and of raw materials and indicates individual units dealing with various
types of goods on request. The Division arranges for the monthly publication
of Singapore Trade which is a revised and improved version of the old
Trade Bulletin designed to give publicity to Singapore trade and industry
and to provide information on trade statistics, trade enquiries and registration
of companies and new businesses. The Division deals also with trade complaints
and with matters affecting the trade policies of Governments in other
countries.

In 1960 the Minister for Finance formed a small Trade and Commerce
Advisory Council consisting of representatives of the four Chambers of
Commerce, the Manufacturers Association and the Exchange Banks Associa-
tion. The Council has the dual role of advising the Minister on such matters
as he shall refer to it and of making representations to the Minister on any
matter affecting trade or commerce which the .Council considers should be
brought to the Ministers notice.

In March 1960 Singapore acted as host for the meeting of the E.C.A.F.E.
Working Party on Small-Scale Industries which discussed the problems of
Food Preservation. Fifteen countries and three specialised agencies were
represented at the meeting. The Deputy Secretary of the [Commerce and
Industry Division, Mr. O. H. R. Beadles, was the First Alternate and sub-
sequently acted as Leader of the Singapore Delegation.

The following International Meetings were attended by officials of the
Commerce and Industry Division:

(a) The 3rd Session of the Committee on Trade and the 12th Session
of the Committee on Industry and Natural Resources held in
Bangkok were attended by Mr. J. J. Puthucheary, Manager,
Industrial Promotion Board, and Mr. Tay Seow Huah, Assistant
Secretary (Trade).


(b) The International Rubber Quality and Packing Conference held in

Singapore and the meeting of the International Rubber Study
Group held in Kuala Lumpur were attended by Mr. Lim Yong
Peng, Executive Officer (Trade).

(c) The 9th Session of the Sub-Committee on Metals and Engineering

held in Rourkela, India, was attended by Mr. Wee Teow Swang,
Industrial Development Officer.

Singapore has a Trade Commissioner in the United Kingdom with office
at 16 Northumberland Avenue, London, W.C.2. and has proposals to establish
her own Trade and Cultural Representatives in Indonesia and in Kuala
Lumpur.

2


Chapter II

TRADE

The improvement in trade which commenced in 1959 continued throughout
1960. This is reflected in Singapores 1960 total visible trade which amounted
to $7,555 million, representing an increase of 2.8 per cent over 1959 and the
highest being recorded since the Korean War boom of 1951.

Singapores total foreign trade (excluding trade with the Federation of
Malaya) increased from $5,827 million in 1959 to $5,859 million in 1960.
Imports increased from $3,106 million to $3,225 million while exports
declined a little from $2,721 million to $2,634 million. There was an adverse
trade balance of $591 million in 1960 as against $385 million in 1959. The
figures for the balance of trade from 1950 to 1960 are:

SINGAPORE BALANCE OF TRADE 19501960*
($ Million)

Year Total Trade i Imports | Exports j ! Trade Balance
1950 ! ' i ! 4,605 i 2,125 j " 2,480 + 355
1951 | 7,610 3,594 i 4,016 + 422
1952 5,393 j 2,849 2,544 - 305 |
1953 4,305 | 2,325 i 1,980 | 345
1954 ! 4,505 2,331 i 2,174 | - 157
1955 5,647 1 2,865 2,782 - 83
1956. 5,830 3,098 2,732 - 366
1957 i 6,080 3,307 2,773 | 534
1958 5,582 3,101 ; 2,481 - 620
1959 5,827 . 3,106 2,721 I 385
1960 5,859 3,225 2,634 - 591

I

* Unless otherwise stated all figures and statements made in the Report do not take
into consideration trade with Federation of Malaya.

THE PATTERN OF TRADE

The proportions of imports from different monetary areas in 1960 are:
31.6 per cent from the Sterling Area, 5.1 per cent from the Dollar Area,
11.2 per cent from the non-Sterling European countries and 51.9 per cent
from the non-Sterling Asian countries. Imports from the Sterling Area, Dollar
Area and non-Sterling European countries increased while imports from the

3


non-Sterling Asian countries declined. For exports the proportions are:-
34.4 per cent to the Sterling Area, 14.7 per cent to the Dollar Area, 27.2 per
cent to the non-Sterling European countries and 19.6 per cent to the non-
Sterling Asian countries. Exports to the Sterling Area increased by 11.8 per
cent while exports to the Dollar Area, non-Sterling European countries and
non-Sterling Asian countries declined by 13.8 per cent, 9.7 per cent and
11.0 per cent respectively. Singapores trade with the principal monetary areas
is shown in Appendix I.

The Federation of Malaya and Indonesia continued to be the most
important trading partners of Singapore. The Federations share of Singapore
trade increased from 20.7 per cent in 1959 to 22.5 per cent in 1960 while
Indonesias share declined from 17.2 per cent to 14.8 per cent. Trade with
these two countries accounted for 37.3 per cent of Singapores total trade.

Trade with other countries remained fairly constant. United Kingdom,
Japan and U.S.A. rank third, fourth and fifth in order of values, followed
by Sarawak, Thailand, Australia and China. Trade with these seven countries
accounted for 33.2 per cent of Singapores total trade. Singapores trade with
the principal trading countries for the years 1959 and 1960 is shown in
Appendix II.

Rubber

Both the volume and value of the rubber trade in 1960 dropped slightly
as compared with those of 1958 and 1959, but they were still maintained at
a comparatively high level. The value of imports of all grades of rubber into
Singapore, expressed as a percentage of Singapores total imports, decreased
from 24.2 per cent in 1959 to 22.5 per cent in 1960, while that of exports,
as a percentage of total exports, also dropped from 55.2 per cent to 52.9 per
cent. Trade in rubber however still accounted for 36.1 per cent of Singapores
total trade (excluding trade with the Federation of Malaya) which was the
second highest since 1952. The importance of the rubber trade can be seen
from the following table:

THE SHARE OF RUBBER IN SINGAPORE TRADE 19501960

Year 1 Percentage of | Percentage of ! Percentage of
all Imports ! | all Exports j ~j Total Trade
1950 j 23.5 i 56.7 j 41.4
1951 29.8 62.7 47.3
1952 .. i 16.2 36.0 25.5
1953 12.5 | 37.9 24.2
1954 ! 14.1 40.9 | 25.6
1955 * 21.2 | 49.4 35.1
1956 17.9 : 44.5 30.1
1957 16.6 ! 41.3 | 27.9
1958 .. | 16.0 41.5 | 27.1
1959 24.2 55.2 38.7
I960 22.5 52.9 36.1

The total tonnage traded decreased from an exceptionally high figure
of 1,128,000 tons in 1959 to 946,000 tons in 1960 representing a reduction
of 16 per cent, but the value fell from $2,248 million in 1959 to $2,116
million in 1960, a drop of only 6 per cent. The comparatively high prices

4


prevailing during the first six months of the year were responsible for
maintaining this high turnover of $2,116 million. Singapores trade in rubber
from 1950 to 1960 is as follows:

SINGAPORE TRADE IN RUBBER 19501960

| IMPORTS EXPORTS TOTAL TRADE
Year i Volume | Value (000 tons) j ($ million) | Volume (000 tons) Value ($ million) Volume (000 tons) Value (S million)
1950 .. r i .. 373 500 655 1,405 1,028 1,905
1951 .. 463 1,071 750 2,519 1,213 3,590
1952 .. 318 j 462 555 916 873 1,378
1953 .. 262 290 506 751 768 1,041
1954 .. 318 329 555 785 873 1,114
1955 .. 342 | 609 604 1,399 946 2,008
1956 .. .. 1 339 | 554 594 1,217 933 1,771
1957 .. 344 548 598 1,146 942 1,694
1958 .. 371 495 636 1,029 1,007 1,524
1959 .. .. 422 749 706 1,499 1,128 2,248
1960 .. 364 t 724 582 j 1 | 1,392 1 j 946 2,116

(Excluding trade between Singapore and F/M.)

Indonesia, as in the previous years, continued to be the main supplier
of rubber although imports from that country dropped to 285,000 tons (78.3
per cent of total rubber imports). Sarawaks share increased slightly to 38,000
tons (10.5 per cent of total rubber imports). These two sources thus accounted
for 323,000 tons out of a total 364,000 tons imported, or nearly 90 per cent
of Singapores total rubber imports.

The following table shows important sources of supply, excluding the
Federation:

IMPORTS OF RUBBER BY COUNTRIES

COUNTRY

Year INDONESIA SARAWAK NORTH BORNEO OTHERS TOTAL
Tons (000) %of Total Tons (000) %0f Total Tons (000) %of Total Tons (000) %of Total Tons (000) %
1950 304 81.3 47 13.0 16 4.2 6 1.5 374 100.0
1951 406 87.7 39 8.4 14 3.1 4 .8 463 100.0
1952 278 87.4 25 8.0 11 3.5 4 1.1 318 100.0
1953 236 90.3 17 6.3 7 2.7 2 .7 262 100.0
1954 294 92.5 15 4.8 5 1.7 3 1.0 318 100.0
1955 283 82.7 31 9.0 7 ; 2.2 21 6.1 342 100.0
1956 247 72.9 39 11.4 8 2.3 45 13.4 339 100.0
1957 287 83.4 36 10.5 7 2.1 13 4.0 344 100.0
1958 311 83.8 33 8.9 6 1.6 21 5.7 371 100.0
1959 347 82.2 35 8.3 8 1.9 32 7.6 422 100.0
1960 285 78.3 38 10.5 8 2.2 33 9.0 364 100.0

5


For the first half of the year, the rubber market was quiet with occasional
bursts of activity, but it proved to be buoyant with the price of first quality
sheet averaging at 120^ cents, which was about 8 cents higher than that of
the second half of 1959. This price level had been maintained in spite of a
high level of production and releases from the American and British stock-
piles. However, the high price of No. 1 sheet was not always reflected in
the lower grades resulting in considerable disparity. High prices during the
first half of the year not only stimulated sales from the two stockpiles, but
also encouraged the greater use of the synthetic rubber. These two factors
resulted in an inevitable decline in prices during the second half of the year.
The monthly average price of first grade sheet thus dropped by 36 cents
during this period. Generally, the market was an orderly one and fluctuations
were much milder than during the previous 18 months. The average buyers'
noon price for Spot Int. 1 R.S.S. for the year stood at 108.27 cents as compared
with 102.37 cents per lb. in 1959.

Singapores exports of rubber to the main consuming countries in 1958.
1959 and 1960 are shown as follows:

SINGAPORE EXPORTS OF RUBBER TO MAIN CONSUMING COUNTRIES,
1958-1960 (IN 1,000 TONS)

Countries 1958 1959 I960
United Kingdom 81 71 68
United States 95 119 83
Japan 70 65 43
U.S.S.R. 32 79 26
China 34 47 30
France 31 33 34
W. Germany 30 30 26
Australia 24 25 23
Argentina 21 18 17
Italy 23 23 28
Others 195 196 204
Total 636 706 582

(Excluding trade between Singapore and F/M.)

Although there was a further improvement in the volume of crude rubber
imported into Singapore, the remilling industry continued to experience
difficulty in securing sufficient supply and demand for their grades had been
poor. The following table shows the volumes and values of crude rubber
imported into the State from 1955 to 1960:

CRUDE RUBBER IMPORTED FOR SMOKING AND REMILLING

Year Volume (1,000 Tons) Value ($ 000)
1955 76.8 91,148
1956 78.2 85.957
1957 78.5 94,820
1958 50.6 45,881
1959 64.3 81,744
I960 66.5 96,114

Exports of latex from Singapore declined from 40,368 tons ($105 million)
in 1959 to 34,162 tons ($98 million), the main markets as in previous years
being U.K., U.S.A., West Germany and Japan.

6


Tin

The cessation in 1959 of all major smelting work in Singapore on transfer
to the Straits Trading Companys enlarged smelters at Butterworth was
reflected in the low volume of Singapore exports of tin in 1960. Singapore
exports of tin dropped to 770 tons in 1960 as against 35,900 tons in 1950.

Total exports of tin from Singapore for the period 1950 to 1960 are
shown in the following table:

SINGAPORE EXPORTS OF TIN (1950-1960)

Year Volume (1,000 Tons) Value {$ Million)
1950 35.9 207.2
1951 29.4 261.5
1952 27.0 217.4
1953 26.9 172.3
1954 33.3 195.9
1955 33.3 202.2
1956 21.3 138.7
1957 20.8 133.4
1958 7.9 48.3
1959 0.7 4.3
1960 0.8 5.1

Out of the 770 tons exported in 1960, 200 tons went to Turkey, 180 tons
to New Zealand and 110 tons to Australia.

The International Tin Agreement continued in force with its maintenance
of export restriction and a floor price of £730 per ton ($373 per picul). The
export quota was increased from 36,000 tons for the first quarter to 37,500
tons for the second quarter, again 37,500 tons for the third quarter, and
from October onwards export controls were lifted completely. During the
year there was little change in the quantity of tin metal held by the Buffer
Stock. As at 30th June the stock held was 10,030 tons, only 20 tons less
than at the end of 1959, and throughout the second half of the year prices
remained in the range in which the Manager of the Buffer Stock had no
authority to buy or sell.

The average price of Straits Tin for 1960 was $393.68 per picul as against
$396.99 per picul for 1959. The lowest Straits Market price was $385.25 per
picul on 3rd May, 1960, and the highest Straits Market price was $410.25
per picul on 2nd August, 1960. In the overall market the Straits Market
continued to maintain an average premium of some £5 per ton over the
London market.

Copra, Coconut Oil and Copra Cake

Singapores total trade in copra showed an improvement from 122,200
tons in 1959 to 145,400 tons in 1960, representing an increase of about 19
per cent. Imports of copra showed an increase of 23 per cent from 75,000
tons in 1959 to 92,300 tons in 1960, while exports of copra showed a smaller
increase of 12.5 per cent from 47,200 tons in 1959 to 53,100 tons in 1960.

7


Singapores total trade in copra for the period 1950 to I960 is shown in
the following table:

SINGAPORE TRADE IN COPRA 19501960

Year IMPORTS EXPORTS TOTAL TRADE
Volume Value Volume Value Volume Value
(000 tons) ($ million) (000 tons) ($ million) (000 tons) ($ million)
1950 .. 102.4 57.2 105.0 68.7 207.4 125.9
1951 79.3 48.4 71.0 1 56.4 150.3 104.8
1952 .. 77.2 30.9 46.2 24.3 123.4 55.2
1953 .. 68.6 34.2 55.8 34.9 i 124.4 68.1
1954 .. 105.4 47.5 54.0 1 ! 31.5 159.4 79.0
1955 .. 90.8 1 35.2 41.8 20.6 132.6 55.8
1956 85.3 32.6 35.5 16.5 120.8 48.1
1957 145.8 62.3 102.6 47.7 ; 248.4 110.0
1958 .. 111.0 53.4 84.5 46.4 195.5 99.8
1959 75.0 46.4 47.2 32.7 122.2 79.1
1960 .. 92.3 | ! 51.0 53.1 30.4 145.4 81.4

The principal supplier of copra was Indonesia (mainly from Sumatra,
Celebes and Moluccas) which supplied about 91,000 tons out of the 92,300
tons imported in 1960. India and Japan continued to be the best customers
of copra, absorbing 19,000 tons and 14,000 tons respectively in 1960. This
was followed by Netherlands (5,250 tons) Sweden (4,600 tons), Iraq (3,500
tons), Belgium (2,000 tons), West Germany (2,000 tons) and Spain (1,500 tons).
Throughout the year dealers and packers competed with local oil millers for
supplies in the Singapore market.

The price of fair mixed copra decreased steadily from about $40 per
picul, f.o.b. at the beginning of the year to about $26 per picul in December,
averaging $32.59 as against $40.46 in 1959.

Singapores exports of coconut oil (crude and refined) showed an increase
by volume from 17,700 tons in 1959 to 20,300 tons in 1960, but showed a
decrease by value from $19.0 million in 1959 to $18.9 million in 1960 because
of falling prices.

Singapores exports of coconut oil for the period 1950 to 1960 are shown
in the following table:

SINGAPORE EXPORTS OF COCONUT OIL 1950-1960

Year Volume Value
(1,000 Tons) ($ Million)
1950 13.8 15.1
1951 17.7 23.7
1952 24.0 20.7
1953 13.7 13.3
1954 35.5 35.4
1955 35.1 27.0
1956 33.5 24.3
1957 46.3 36.9
1958 29.4 25.5
1959 17.7 19.0
1960 20.3 18.9

8


Out of a total export of 3,450 tons of refined coconut oil, 860 tons were
shipped to Iran, 450 tons to Cambodia, 270 tons to Hongkong, 250 tons to
Bahrein and 210 tons to Netherlands New Guinea. The total export of crude
coconut oil increased from 13,500 tons in 1959 to 16,900 tons in 1960, an
increase of 25 per cent, the bulk of which went to China (3,750 tons),
Netherlands (2,320 tons), Italy (1,730 tons), South Africa (1,660 tons) and
Vietnam (1,610 tons).

The price of crude coconut oil in drums dropped throughout the year,
opening at $64.75 per picul f.o.b. in January and closing at $43.13 per picul
in December, averaging $52.58 in 1960 as against $65.20 in 1959.

In regard to copra cake, as in previous years, Indonesia (mainly Java)
was the main supplier, and the Federation of Malaya the main purchaser.
Java supplied 52,800 tons ($10.1 million) out of a total of 57,000 tons ($10.8
million) imported in 1960, as against 64,000 tons ($12.4 million) out of a
total of 68,300 tons ($13.2 million) imported in 1959. The Federation of
Malaya took 22,400 tons ($5.68 million) out of a total export of 22,600 tons
($5.72 million) in 1960. The price for round oilcake opened at $17.75 per
picul in January and closed at $14.06 per picul in December. The average
price in 1960 was $15.34 as against $16.29 the previous year.

Pineapples

Total Singapore exports of canned pineapples for the year 1960 amounted
to 35,900 tons worth $25.2 million as against 36,600 tons worth $26.6 million
in 1959. This represented a drop in quantity of about 2 per cent and a drop
in value of about 5 per cent.

The United Kingdom remained our best traditional market absorbing
20,000 tons as compared with 25,600 tons in 1959. The decline in the U.K.
market for Malayan canned pineapples is attributed to keen competition from
South Africa and Australia and the tally clerk strike at the London Docks
in October involving increased costs of goods from Malaya landed on the
Continent and later transhipped to U.K.

Exports to other traditional markets were fairly well maintained and
some headway wa.s made in new markets, notably the United States. As shown
below, 1960 exports to Canada, U.S.A., New Zealand, Denmark and Aden
increased as compared with 1959.

Countries of Destination
Canada

West Germany
U.S.A.

New Zealand

1959 1960
Tons Tons
3,124 4,967
2,257 2,265
176 1,837
608 1,759

Denmark 214 1,061

Aden 651 999

World over-production in 1959 and the consequent price collapse in the
U.K. and other consumer countries coupled with low price forward sales by
some canners, resulted in uneconomical price levels for the early part of the
year. Prices, dropped as low as $14 per case, but by April prices had taken
a sudden turn for the better and risen to $16 and $18 per case. Prices,
however, weakened again in November.

9


From July to November the strike of 600 employees of the Singapore
Glass Manufacturing Co. caused considerable anxiety to pineapple canners
and smallgrowers, as the supply of paper cartons to the industry is exclusive
to that company. Some canners imported temporary supplies from Hongkong,
but fortunately before the complete exhaustion of stocks, the strike was settled
and the production of locally produced paper cartons resumed.

The Report of the Commission of Enquiry into the Malayan
Pineapple Industry, together with a Statement of the Governments
Future Policy for the Industry, was published in 1960. In the Governments
view, the Commissions Report was unduly biased in favour of the canners
and contained a number of conclusions and recommendations which were
disputable or unacceptable. The Government agreed in principle, with certain
qualifications, to the establishment of a statutory central selling association
and that research should be conducted by the Malayan Pineapple Industry
Board in close liaison with the canners, but decided that process (or canning)
research should continue to be carried out at Tampoi instead of transferring
this branch of research to Alor Bukit. The Government did not agree with
the Commissions view that the canners should no longer be compelled by
law to accept fruit from smallgrowers. The Government agreed with the
Commissions recommendation that the Board should be reconstituted but
decided on seven members instead of three members as recommended by the
Commission and also re-defined the functions of the reconstituted Board.

The Pineapple Industry (Amendment) Ordinance, 1960 (No. 74 of 1960)
was then passed by the Legislative Assembly in December. By this Amend-
ment Ordinance, the constitution of the Malayan Pineapple Industry Board
is altered, and its functions are set out in detail. The statutory Executive
Committee is abolished and the powers of the Executive Committee are
transferred to the Board. The statutory post of Chief Executive Officer is
also abolished.

Textiles

Singapore trade in cotton piece-goods increased from 178.1 million
sq. yds. in 1959 to 185.5 million sq. yds. in 1960 while trade in fabrics
of synthetic fibres continued to decline from 172.4 million sq. yds. in 1959
to 105.1 million sq. yds. in 1960, a decline of 39 per cent. The decline in
textile trade was mainly due to import restrictions in the entrepot market.
Imports of cotton piece-goods from India and China declined from 29.1
million sq. yds. ($12.4 million) and 31.0 million sq. yds. ($17.2 million)
in 1959 to 24.7 million sq. yds. ($11.7 million) and 23.2 million sq.
yds. ($14.3 million) in 1960. However, imports from Hongkong,
U.S.S.R., U.S.A. and Japan showed an increase. In the case of imports
from U.S.S.R., the increase was highfrom 6.2 million sq. yds. ($2.2 million)
in 1959 to 15.7 million sq. yds. ($6.5 million) in 1960, an increase of 153
per cent in yardage. Imports of fabrics of synthetic fibres were mainly from
Japan which supplied 56.9 million sq. yds. ($39.2 million) out of a total of
84.7 million sq. yds. ($60.0 million) in 1960 as against 98.2 million sq. yds.
($51.3 million out of a total of 130.5 million sq. yds. ($85.2 million) in 1959.
Imports from India showed a marked decrease from 9.7 million sq. yds.
($14.8 million) in 1959 to 3.7 million sq. yds. ($2.3 million) in 1960 while
imports from China showed a marked increase from 12.4 million sq. yds.
($5.1 million) to 16.5 million sq. yds. ($7.3 million).

Exports of cotton piece-goods and fabrics and synthetic fibres to Indo-
nesia continued to decline while exports to other destinations generally

10


increased. Singapore imports and exports of textiles by principal countries
are given in Appendix III; total trade for the last four years is as follows:

SINGAPORE TRADE IN TEXTILES 19571960

COTTON PIECE-GOODS

SYNTHETIC FABRICS

Imports

Exports

Total Trade

Year (Million sq. yd.) (*) (Million)
i (Million j sq. yd.) (*) (Million)
! r1957 .. ; 147.6 i 1 94.6 1 89.7 63.3
11958 135.8 87.2 198.8 123.6
]1959 .. 136.0 82.3 1 130.7 85.3
11960 .. 149.5 101.2 84.7 60.0
1 f1957 .. 63.6 33.6 30.6 20.1
J 1958 59.2 32.7 135.6 59.0
1 1959 42.1 22.5 41.7 21.2
LI960 .. 36.0 23.2 20.4 12.0
f1957 .. ! 211.2 128.2 120.3 j 83.4
1 J 1958 .. | 195.0 119.9 334.4 182.6
3-0 1 1959 .. 1 178.1 104.8 172.4 106.5
! L1960 .. ; 185.5 124.4 105.1 72.0

Pepper

As in the previous years the pepper trade of Singapore in 1960 reflected
the exports of Sarawak and Indonesia. Out of a total import of 16,228 tons
($49.6 million) of pepper in 1960, Sarawak and Indonesia supplied 3,654
tons ($16.7 million) and 11,497 tons ($28.9 million) respectively representing
93 per cent of Singapores total import. The U.S.A., United Kingdom, West
Germany, French Africa and Japan were Singapores main markets. Exports
to U.S.A. and United Kingdom alone accounted for 67 per cent of Singapores
total exports. Total trade declined from 67,000 tons in 1959 to 37,000 tons
in 1960 but increased in value from $108.8 million in 1959 to $129.2 million
in 1960. The increase in value was due to the fact that pepper prices rose
sharply in the beginning of 1960 when the price of white pepper reached
$438.50 per picul and that of black pepper $428.50 per picul, which were
the highest since 1953. The following two tables show trade in black and
white pepper from 1950 to 1960:

VALUES OF TRADE IN BLACK AND WHITE PEPPER 19501960

($ Million)

Year IMPORTS EXPORTS TOTAL TRADE
Black White Black White Black White
1950 .. 22.9 9.7 23.2 19.8 46.1 29.5
1951 .. 12.4 24.0 15.3 27.5 27.7 51.5
1952 .. 16.9 20.5 18.3 22.8 35.2 43.3
1953 .. 34.3 15.7 35.4 19.7 69.7 35.4
1954 35.6 ; j 20.5 34.3 26.9 69.9 47.4
1955 .. 33,6 22.4 31.2 22.9 64.8 45.3
1956 26.9 20.5 27.4 25.1 54.3 45.6
1957 18.1 12.9 21.4 16.8 39.5 29.7
1958 17.4 16.1 22.8 17.3 40.2 33.4
1959 31.3 24.6 27.9 25.0 59.2 49.6
1960 .. .. j 27.6 ' 20.1 40.7 40.8 j 68.3 60.9

11


VOLUMES OF TRADE IN BLACK AND WHITE PEPPER 19501960

(000 Tons)

IMPORTS ! EXPORTS | TOTAL TRADE

Year
Black White Black White Black White
1950 2.6 0.7 I 2.3 j 1.3 4.9 2.0
1951 .. 1.4 1.6 1.5 | L7 | 2.9 3.3
1952 .. 2.1 2.2 2.1 2.3 | 4.2 4.5
1953 .. .. ! 6.1 2.3 5.9 2.7 j 12.0 5.0
1954 12.5 5.5 10.8 6.8 j 23.3 12.3
1955 17.0 7.8 14.1 7.7 I 31.1 15.5
1956 21.4 11.9 18.8 12.7 40.2 24.6
1957 15.4 7.4 16.5 9.0 j 31.9 16.4
1958 15.8 8.8 18.2 8.8 34.0 17.6
1959 .. 27.3 10.8 19.2 9.9 46.5 20.7
1960 .. ,,.4 1 4.3 13.1 8.3 24.5 12.6

Petroleum Products

Singapores off-shore islands contain the biggest oil storage, blending,
packing and bunkering base in South-East Asia. The trade in petroleum pro-
ducts, including lubricating oil, accounted for 15.2 per cent of Singapores
foreign total trade and is next in importance to trade in rubber. Singapores
trade in petroleum products, including lubricating oil, declined a little from
$923 million in 1959 to $892 million in 1960. The value of this trade over
the last seven years is as follows:

SINGAPORE TRADE IN PETROLEUM PRODUCTS 19541960

($ Million)

Year Imports Exports Total Percentage of Total Trade
1954 522 353 875 19.6
1955 597 374 971 17.2
1956 663 388 1,051 18.0
1957 711 381 1,092 18.0
1958 669 362 1,031 18.5
1959 599 324 923 15.8
1960 573 j 319 00 VO K> 15.2

In 1960 about 5.4 million tons of petroleum and petroleum products
valued at $591 million were imported. Imports from Sumatra (1.5 million
tons), Sarawak (0.7 million tons) and Bahrein (0.5 million tons) accounted
for more than half of the total imports. About 55 per cent of the quantity
imported, 2.9 million tons valued at $384 million, was exported in 1960.
Exports to Thailand, Australia, Philippine Islands and Vietnam amounted
to 1.5 million tons ($211 million) and accounted for more than half the total
exports. Singapores imports and exports of petroleum and petroleum products
by principal countries for 1960 are given at Appendix IV.

12


APPENDIX /

DIRECTION OF SINGAPORE TRADE 19591960

(EXCLUDING TRADE BETWEEN SINGAPORE AND FEDERATION OF MALAYA)
($ Million)

1959

Imports j Exports

1960

Imports

Exports

_
$ % $ % 9 % 9 %
- ..
Total of All Countries 3,105.5 100 2,720.5 100 3,224.8 100 2,634.1 100
United Kingdom .. 324.7 273.5 363.1 286.8
British Colonial Territories 408.4 241.2 425.9 27E3
Independent Commonwealth
Members 200.2 275.7 193.3 323.2 27.2
Other Members of Sterling Area 43.5 22.4 38.1
Total Sterling Area 976.8 31.4 812T
29.9 1,020.4 01 ( 908.5 34.4
Jl .0
United States of America 84.8 292.0 147.5 242.2
Canada 7.8 59.2 13.3 49.3
Rest of Dollar Area 16.4 99.7 4.7 Q7 7
Total Dollar Area 109.0 3.5 450T
16.6 165.5 5.1 000 7 14.7
' JOO. /
Non-Sterling O.E.E.C. Members
in Europe 238.2 429.8 276.0 417.2
Other Non-Sterling O.E.E.C.
Members 42.2 90.7 62.5 84.9
Other Countries in Europe 16.5 273.6 22.5 215.4
Total Non-Sterling European Countries .. 296.9 9.6 794.1 29.2 361.0 11.2 717.5 27.2
Indonesia 1,135.7 131.4 999.3 121.1 one 0
Other Countries in Asia 584.1 448.6 674.6
Total Non-Sterling Asian Countries .. -
1,719.8 55.4 580.0 21.3 j 1,673.9 51.9 ci/: 1
' - JlD.O lU.D
Others .. 3.0 0.1 82.7 3.0 5.0 0.2 103.6 4.1
1 L


APPENDIX If

SINGAPORE TRADE BY PRINCIPAL COUNTRIES 19591960
($ million)

IMPORTS EXPORTS : TOTAL TRADE



1959 I960 1959 i 1960 1959 1960
Country of Origin and Destination .... 1 i i - . - ,
%0f %of ; %of 'I ; %of | i %of %of
$ Total $ Total $ i Total ! $ 1 Total $ j Total $ Total
Imports Imports Exports -1 1 Exports i Trade Trade
Federation of Malaya 802.8 i 1 20.5 853.2 20.9 719.8 1 20.9 843.5 i 24.3 ! 4,522.6! I 20.7 1,696.7 I 22.5
Indonesia 1,135.7 i 29.1 999.3 24.5 131.4 i 3.8 121.1 j 3.5 ! 1,267.1 i 17.2 1,120.4 i 14.8
United Kingdom 324.7 ; 8.3 363.0 8.9 273.5 , 8* 286.8 ! 8.2 598.2 8.1 649.8 8.6
Japan 243.5 6.2 298.1 1 7*3 195.3 5-7 156.7 4.5 438.8 6.0 i | 454.8 , 6.0
United States of America 125.2 i 3.2 156.0 ! 3.8 292.0 ! 8.5 242.2 1 7.0' . 417.2 j 5.7 1 398.2 5.3
Sarawak 18474 1 4.7 198.5 4.9 82.2 i 2A 85.6 i 2.5 : ! 266.6 i 3.6 | ! 284.1 i 3.8
Thailand 146.5 3.8 14518 3.6 95.3 2.8 107.3 ! 3.1 ! 241.8 3.3 | 253.1 i 3.3
Australia .. 111.7 2.9 106.0 2.6 122.9 1 36 135.4 j 3.9 j 234.6 3.2 241.4 3.2
China 131.4 3.4 139.8 3.4 ! 116.0 ! 3.4 86.9 ! 2.5 j 247.4 3.4 ! ! 226.7 3.0
West Germany 60.1 1.5 74.1 1.8 89.2 2.6 78.7 2.3 ! 149.3 2.0 [ 152.8 2.0
Hong Kong 81.9 2.1 89.6 2.2 50.2 j 1.5 60.0 ! 1.7 i 132.1 1.8 1 149.6 i 2.0
France 23.2 0.6 29.0 0.7 78.8 ! 2.3 91.4 1 2.6 1 102.0 1.4 120.4 1.6
India 60.3 1.5 50.3 1.2 57.2 1 1-7 69.5 117.5 1.6 : 119.8 1.6
Netherlands 58.6 1.5 58.8 | 1.4 83.8 2A 57.8 i 1.7 j 142.4 ; 1.9 ! 116.6 1.5
North Borneo 23.4 0.6 23.7 j 0.6 61.1 1 1.8 73.9 ! 2.1 ! 84.5 | 1.1 | 97.6 : ! 1.3
U.S.S.R. .. 2.3 0.1 6.6 I 0.2 i 164.2 j 4.8 61.9 1.8 i 166.5 ; 2.3 ! 68.5 0.9
Burma 34.2 0.9 23.9 i 0.6 ! 12.0 0.3 10.9 i 0.3 I 46.2 0.6 ! 34.8 0.5
Italy .. .. j 14.2 0.4 17.4 j 0.4 1 70.5 2.0 82.4' | 2.4 i 84.7 i 1.2 ; 99.8 1.3
i i J 1 1 i

1959 Imports $3,908.3 million

1960 Imports $4,078.0 million

Exports $3,440.3 million \
Exports $3,477.1 million/

Including trade with the Federation of Malaya.


APPENDIX III

SINGAPORE IMPORTS AND EXPORTS OF TEXTILES BY PRINCIPAL

COUNTRIES1960

IMPORTS 1 EXPORTS

Sq. Yds. (Million) $ (Million) Country Sq. Yds. ; (Million) | % j (Million)
(a) Cotton Piece-goods i
2.3 3.3 United Kingdom 1 i I
7.3 4.7 Hong Kong 1
4.7 "7 India i |
15.7 6.5 Union of Soviet Socialist Russia
2.2 2.5 United States of America i i
23.2 14.3 China ! 1
65.5 51.2 Japan
8.6 7.0 Others ..
Brunei .. 1.0 0.7
Sarawak 7.9 5.4
North Borneo 7.4 5.2
Indonesia 5.1 3.4
Thailand 6.1 2.9
Others .. 8.5 5.6
149.5 101.2 36.0 23.2
(b) Fabrics of Synthetic Fibres
0.3 0.8 United Kingdom
3.7 2.3 India
0.4 0.5 West Germany
4.6 7.6 j United States of America i
16.5 7.3 China ..
56.9 39.2 Japan
2.3 2.3 Others
North Borneo 2.2 1.3
Sarawak 2.4 1.4
Indonesia 8.0 4.3
I Others .. .. j 7.8 5.0
84.7 60.0 i i i 20.4 12.0

15


APPENDIX IV

SINGAPORE IMPORTS AND EXPORTS OF PETROLEUM AND PETROLEUM
PRODUCTS BY PRINCIPAL COUNTRIES1960

IMPORTS 1 i EXPORTS
Tons (Thousand) j $ | (Million) 1 Country Tons (Thousand) $ (Million)
i 721 91 Sarawak .. !
486 28 Bahrein .. j
590 47 I 1 C.C. in Asia, not elsewhere specified
181 1 13 ! Australia
18 3 Dutch Guiana, French Guiana and Dutch West Indies .. j
1,497 171 Sumatra |
446 58 Iran
208 13 Iraq
1,242 167 Others i i
Hong Kong ! 192 | 24
Australia 428 60
New Zealand 219 35
Vietnam 271 38
Sumatra 175 11
Philippine Islands 325 44
Thailand 498 69
| Others .i 829 103
5,389 591 j Total .. 2,937 384

16


Chapter III

INDUSTRIAL DEVELOPMENT IN 1960

Introduction

The policy of active industrial promotion initiated by the Government from
mid-1959 began to show the first firm results in 1960 with the grant of pioneer
certificates to four major new industries including two oil refineries, involving
a total capital investment of over $75 million. Manufacturing output by
establishments employing ten or more workmen in 1959 (excluding rubber
processing) were $398.9 million and the corresponding figure for 1960 was
$465.6 million, an increase of $66.7 million, reflecting the recovery made by
manufacturing industries from the uncertain pre-election period in 1959. The
rise in manufacturing output may be taken to indicate a firm upward trend,
for 1960 output was above the value of manufacturing output estimated at
$420 million for 1956, a normal year. The value of rubber processing remained
stable at $1,195.9 million compared with $1,186.7 million in 1959, but the
significant factor is that value added to rubber processing increased threefold
from $14.1 million to $42.9 million in 1960.

Employment in manufacturing enterprises employing ten or more work-
men increased by 2,000 to a total of some 27,500 while overall industrial
employment increased to 34,000 in 1960. The census of industrial production
1960, showed a net increase of 19 new enterprises from 564 in 1959 to 583
manufacturing firms in 1960.

Manufacturing Output

Preliminary tabulation of the 1960 Census of Industrial Production
showed that the value of output of the establishments engaged in the various
manufacturing processes excluding rubber processing was $465.6 million in
1960 compared to $398.9 million in 1959. Most of the major industrial groups
had shown increases in output. In the food manufacturing group, the value
of output rose from $69.4 million to $75.3 million. Output of beverage in-
dustries showed an increase from $33.6 million to $39.3 million. Tobacco
manufactures also showed an increase in output from $21.9 million to $38.9
million. In the case of tobacco, it must be noted that the increase in the
value of output was partly on account of the increase in the import duty of
leaf tobacco. The other major industries showing increases in output were
manufactures of wood and cork (sawmilling and rattan processing), printing
and publishing, manufacture of textiles and footwear, and manufacture of
chemicals. Only two major groupsmanufacture of non-metallic products
and manufacture of electrical machinery had shown decreases in output.
Output of manufacture of non-metallic products was $19.6 million in 1959,
but had decreased to $17.3 million in 1960. Output of electrical machinery
and appliances also showed a decline from $19.4 million to $17.1 million.

The output of rubber processing in 1959 was estimated as equivalent to
total costs of production, as the declared value of output of certain establish-
ments showed a negative figure for value added. The estimated value was
$1,186.7 .million and the declared value was $1,198.3 million. The value of
output of rubber processing in 1960 was $1,195.9 million while the estimated
value from total costs of production was $1,165 million.

17


Granite quarrying had shown a substantial increase. The value of output
had risen from $2.9 million to $5.6 million.

Table I shows the manufacturing output in 1960 by major industrial
groups.

Employment

The number of workers engaged in manufacturing processes covered in
the 1960 Census of Industrial Production, excluding rubber processing, had
increased from 25,607 to 27,416. The major industrial groups showing in-
creases were the manufacture of wood and cork, printing and publishing, and
the manufacture of metal products. Rubber processing also showed an increase
from 5,615 to 5,484 workers.

Employees remuneration had increased from $58.9 million to $66.8
million for the manufacturing processes and from $10.1 million to $11.6
million for rubber processing.

Capital Expenditure

During the period under review, new capital expenditure by firms was
estimated at $10.6 million, but this was $3.3 million below the estimated level
of $13.9 million in 1959.

New Industries

During the year, major investment decisions were made by four com-
panies which were the first enterprises to be awarded pioneer certificates
under the Pioneer Industries (Relief from Income Tax) Ordinance, No. 1 of
1959, which gave them tax exemption for a period of five years from
production day. The new pioneer companies which were formed included the
two oil refineries, a pharmaceutical plant and an electrical appliances factory,
which had a total subscribed capital of $77.1 million and authorised capital
of $80.5 million.

Industrial Planning

Industrial Planning on a comprehensive national scale was undertaken
for the first time towards the end of 1960 with the arrival of a seven-member
industrial survey mission, whose services were obtained under the United
Nations Expanded Programme of Technical Assistance. Let by Dr. Albert
Winsemius, a noted economist and industrial planner from the Netherlands,
the mission comprised technical experts in the fields of electrical equipment
and appliances manufacturing, chemical industries, metals and engineering
industries, shipbuilding and ship-repairing, and industrial sites planning. A
senior industrial engineer and research economist from the Economic Com-
mission for Asia and the Far East served as a technical .secretary to the
mission.

Its terms of reference were:

(1) To undertake economic investigations;

(2) To draw up a list of economically feasible industries in the fields

of shipbuilding and repair, metals and engineering (except steel
industry), chemicals, and electrical equipment and appliances;

(3) To prepare an outlined plan for the development of industrial

estates;

(4) To advise the necessary economic, organisational and operational

measures for promoting sound and speedy development of
manufacturing industries.

The mission was in Singapore from October to December 1960, at the
end of which it submitted a preliminary report to the Singapore Government.
A follow-up mission was expected to arrive in March 1960/61 to complete
the investigations.

18


Another United Nations expert, Mr. P. L. Schereschewsky, from France
arrived in July 1960, to make a preliminary study on the feasibility of
establishing an iron and steel industry in Singapore, and to prepare the terms
of reference for a detailed study by a full survey mission, should the initial
assessment prove favourable. His report on The designation of a team of
experts studying the feasibility of a steel industry in Singapore was success-
fully completed in October 1960 and submitted for consideration of the
United Nations and the Government of Singapore. On the recommendations
made in the report, a complete survey mission including experts in the fields
of marketing of steel products, mining, carbonisation, metallurgy, bulk
transportation, rolling mills, and industrial engineering, was expected to arrive
in early 1961 to undertake a comprehensive survey.

Pioneer Industries

The first four industrial enterprises, which were granted pioneer certi-
ficates in 1960, were:

(1) The Shell Refinery Co. (S) Ltd.

(2) Maruzen Toyo Oil Co. (S) Ltd.

(3) Mizrahie & Co. (1961) Ltd.

(4) Electric Industries Ltd.

These four enterprises would produce respectively petroleum products,
pharmaceutical products, and electrical and gas appliances. By the end of
1960, twenty-nine products had been declared as pioneer products. They
include condensed milk, aluminium collapsible tubes, cement, metal louvres,
surgical dressings, sulphuric and other acids, and wheat flour. Applications
for pioneer status were also received for textile weaving and steel rolling.

Industrial Estates

In December 1960, the Government of Japan sent a team of Japanese
engineers and site planners which made a preliminary survey on the industrial
area at Jurong, which had been demarcated for development into an industrial
satellite town. The mission successfully completed its work and submitted a
report suggesting tentative layout and planning for the Jurong Industrial
satellite town. As more detailed data was necessary before the Japanese
survey mission could complete and finalise its recommendations, a crash
programme was undertaken by the respective Government Departments and
Statutory Bodies to provide topographic, hydrographic, geological and soil
data. The preliminary scheme suggested by the mission was for the develop-
ment of an integrated industrial satellite town which would have its own
wharf facilities and sea access. Areas were designed for locating heavy,
medium and light industries with facilities also for ship-breaking and
shipbuilding.

To provide suitable factory sites for light industries, the Housing and
Development Board, acting as the agent for the Singapore Government in
conjunction with the Singapore Factory Development Ltd., planned and
initiated the development of two industrial estates at Redhill and Tanglin
Halt. The 23-acre Redhill Industrial Estate, located between Alexandra Road
and Henderson Road, would provide sites for 39 factories. The 42-acre
Tanglin Halt Industrial Estate, which is located near the Queenstown Housing
Estate, would provide sites for 62 factories. To assist small industrialists,
financial facilities were available from the Singapore Factory Development
Ltd., which would enable entrepreneurs to lease land and purchase buildings
on a long-term loan system. These industrial estates are self-contained units
with utility services and good road access.

19


TABLE IMAJOR COMPONENTS OF INDUSTRIAL PRODUCTION

(Singapore Census of Industrial Production, 1960)

S.I.C. Code Description Number of Establish- ments Number of Workers Output (MS000) Value Added (M$000) Employees Remunera- tion (M$000) Capital Expenditure (MS000)
20 Food Manufacturing Industries, except beverage industries 92 3,664 75,318 16,700 7,181 1,475
21 Beverage industries 20 1,667 39,331 19,693 4,374 919
22 Tobacco Manufacture 12 965 38,904 7,732 1,840 1,482
25 Manufacture of Wood and Cork, except Manufacture of Furniture 47 2,512 35,697 10,067 6,726 148
26 Manufacture of Furniture and Fixtures 9 i 431 3,842 1,353 1,094 43
27 Manufacture of Paper and Paper Products 14 439 5,187 1,890 594 50
28 Printing, Publishing and Allied Industries 92 4,061 42,674 24,503 11,294 1,732
23 + 24 + 29 Manufacture of Textiles, Footwear except Rubber Foot- wear, other wearing apparel, made up textile goods, leather and leather products 33 1,302 15,208 1 4,434 : i 2,390 | 184
30 Manufacture of Rubber Products, including Rubber Footwear 14 877 i 18,138 j ! 3,323 1,673 267
31 + 32 Manufacture of Chemicals, Chemical Products and Products of Petroleum and Coal 33 1,437 63,626 9,718 3,280 491
33 Manufacture of Non-Metallic Mineral Products, except Products of Petroleum and Coal 22 2,374 17,310 5,465 5,566 1,146


S.l.c. Code Description
34 Basic Metal Industries
35 Manufacture of Meta] Products, except Machinery and | Transport Equipment
36 Manufacture of Machinery, except Electrical Machinery
37 Manufacture of Electrical Machinery, Apparatus, Appliances and Supplies
38 Manufacture of Transport Equipment
39 Miscellaneous Manufacturing Industries
2+3 TOTAL MANUFACTURING PROCESSES
2+3 TOTAL MANUFACTURING PROCESSES
3011 + 3012 Rubber Processing
Total Manufacturing Processes including Rubber Processing ..
1401 Granite Quarrying
Total Manufacturing and Quarrying ..



Number of Establish- ments Number of Workers Output (M$000) Value Added (M$000) Employees Remunera- tion (M$000) Capital Expenditure (M$000)
7 471 4,926 1,906 1,128 ; 76
39 1,724 30,389 10,870 4,532 766
42 1,448 16,805 6,525 4,234 217
13 1,252 17,090 7,884 4,543 315
39 2,270 31,708 8,299 5,50) 477
20 522 9,416 1,782 847 20
548 27,416 465,568 142,143 66,795 9,806
548 27,416 465,568 142,143 66,795 9,806
24 5,484 1,195,909 42,911 11,627 550
572 32,900 1,661,477 185,054 78,422 10,357
11 899 5,616 3,964 2,302 252
583 33,799 1,667,093 189,018 80,724 10,609


Chapter IV

EXCHANGE CONTROL DEPARTMENT

The Exchange Control Division continued in .the charge of a Deputy
Controller of Foreign Exchange, who was also responsible for the co-ordination
of exchange policy as agreed by the Ministers for Finance in Singapore
and the Federation of Malaya. There was no change in the general policy
which accords with that of the United Kingdom and most other members
of the Scheduled Territories. With few exceptions, transfers are freely
permitted between Scheduled Territories so that, for example, holders of
valid import licences in Malaya may obtain any necessary exchange from
the United Kingdom or any other Schedule Territory to pay for their
imports, while foreign exchange acquired by merchants as a result of exports
from Malaya can be collected in any other part of the Scheduled Territories
provided normal banking channels are used for either purpose.

The Division comprised the following sections: Imports and Exports,
General Authorisation, Investigations and Records.

As instituted throughout Malaya under the Finance Regulations
Proclamation on 1st January, 1946, exchange control was virtually a
re-instatement of the exchange control existing prior to the Japanese occupa-
tion. In Singapore the Finance Regulations Proclamation was superseded by
the Finance Regulations Ordinance No. 15 of 1950. This continued in force
until the end of 1953. On 1st January, 1954, it was replaced by the Ex-
change Control Ordinance, 1953 (now Chapter 216 of the laws of the State
of Singapore). This, however, made no basic changes in the law apart from
a few sections dealing mainly with bearer securities on which interest or
dividend is payable by coupon, and securities registered outside the
Scheduled Territories or which can be so transferred. Securities of this nature
have to be deposited with an Authorised Depositary.

On 4th March, 1960, the Ordinance was amended by the Exchange
Control (Amendment) Ordinance, 1960, to bring Treasury Bills under control.
The effect of the amendment was to prohibit the export of Treasury Bills
from Singapore unless with the permission of the Controller of Foreign Ex-
change. Provision was also made prohibiting persons resident in the Scheduled
Territories from lending Treasury Bills to any company which is controlled
by non-residents.

Authorised banks continued to exercise certain powers on behalf of the
Exchange Control including authorisation of exchange control applications
for payments for imports and the issuing of travel allowances. Some Travel
Agencies were also empowered to authorise travel allowances.

There was no change in the year under review of banks authorised to
deal in foreign currencies. The 28 banks authorised were:

Ban Hin Lee Bank Ltd.
Bangkok Bank Ltd.

Bank Negara Indonesia.
Bank of America.

Bank of Canton Ltd.
Bank of China.

Bank of East Asia Ltd.
Bank of India Ltd.

Bank of Singapore Ltd.
Bank of Tokyo Ltd.

Banque de Llndochine.

Chartered Bank.

Chung Khiaw Bank Ltd.

Eastern Bank Ltd.

Far Eastern Bank Ltd.

First National City Bank of New
York.

Hongkong & Shanghai Banking Cor-
poration.

22


Indian Oversea Bank Ltd.

Indian Bank Ltd.

Industrial & Commercial Bank Ltd.
Lee Wah Bank Ltd.

Malayan Banking Ltd.

Mercantile Bank Ltd.

Nationale Handelsbank N. V.

Netherlands Trading Society.
Oversea-Chinese Banking Corpora-
tion Ltd.

Overseas Union Bank Ltd.

Sze Hai Tong Bank Ltd.

United Commercial Bank Ltd.

All the above banks, except Ban Hin Lee Bank Ltd., Bank Negara
Indonesia, Bank of Canton Ltd. and Lee Wah Bank Ltd., were also appointed
as Authorised Depositories for the purpose of Part IV of the Ordinance.
Authorised dealers in gold coin and bullion were:

Chartered Bank. Kim Bian Seng Co. Ltd.

Eastern Bank Ltd. Mercantile Bank Ltd.

Hongkong & Shanghai Banking Cor- Yee Shing Co. Ltd.

poration.

As in the past a number of goldsmiths were permitted to melt old gold
jewellery for re-manufacture. Regulations to ensure control and inspection of
such processes remained the same.

Money changers were licensed by Exchange Control upon payment of
a fee of $50 and the total fees received in the year from this source amounted
to $1,450. The regulations pertaining to money changing remained the same
whereby most money changers are restricted to dealing in Scheduled
Territory currency notes and the purchase of Indonesia rupiahs, Siamese
ticals, French francs and Netherlands guilders. Those at Clifford Pier and
Paya Lebar Airport and Pulau Bukom were also allowed to buy all currencies.

The system of permits known as Remittance Shop Permits being granted
to Chinese Family Remittance Shops was continued. These permits were of
two kinds: Permit A (fee $250) which allowed the holder to remit direct
to China through banking channels whilst Permit B (fee $100) only allowed
the holder to remit through a Permit A holder or to hand the money
collected to a bank for transmission to the beneficiaries. The total permit fees
collected in 1960 amounted to $18,000 compared to $19,000 in 1959.

Conditions of licences included a requirement that a satisfactory bank
guarantee be lodged with the Government .to protect the interests of the
remitters. Remittances were restricted to a maximum of $45 per family per
month but in practice the average remittance was far below the permissible
maximum.

Detailed figures of Chinese Family Remittances from Singapore to China
during 1960 are as follows:

Month Items Malayan $ January 87,076 C. 2,330,997 79 26.88
February 26,305 724,526 33 27.54
March 38,374 1,021,350 99 26.61
April 36,021 802,441 31 22.27
May 28,845 709,243 25 24.58
June 32,170 743,537 87 23.11
July 18,524 645,931 00 34.87
August 26,175 702,613 97 26.84
September 24,781 657,852 65 26.54
October 22,598 634,629 25 28.09
November 24,051 692,063 03 28.77
December 24,949 709,073 36 28.42
Total 389,869 10,374,260 80

There was a reduction of 92,791 items and $2,788,296.76 in the total
amount of remittances compared to the 1959 figures.

23


Banking

One

year.

foreign bankMalayan Banking Ltd.was licensed during the

Banks transacting business in the State of e as follows: Singapore at the end of 1960
*1. Asia Commercial Banking Cor- poration Ltd. 18. Hongkong & Shanghai Banking Corporation.
2. Ban Hin Lee Bank Ltd. 19. Indian Bank Ltd.
3. Bangkok Bank Ltd. 20. Indian Overseas Bank Ltd.
4. Bank Negara Indonesia. *21. Industrial & Commercial Bank
5. Bank of America. 22. Kwangtung Provincial Bank.
6. Bank of Canton Ltd. 23. Kwong Lee Bank Ltd.
7. Bank of China. *24. Lee Wah Bank Ltd.
8. Bank of East Asia Ltd. 25. Malayan Banking Ltd.
9. Bank of India. 26. Mercantile Bank Ltd.
*10. Bank of Singapore Ltd. 27. Nationale Handelsbank N. V.
11. Bank of Tokyo Ltd. 28. Netherlands Trading Society.
12. 13. Banque de llndochine. Chartered Bank. *29. Oversea-Chinese Banking Cor- poration Ltd.
*14. Chung Khiaw Bank Ltd. *30. Overseas Union Bank Ltd.
15. Eastern Bank Ltd. *31. Sze Hai Tong Bank Ltd.
*16. Far Eastern Bank Ltd. *32. United Chinese Bank Ltd.
17. First National City Bank of New 33. United Commercial Bank Ltd.

York.

* Banks incorporated

in Singapore.

Rates of Exchange

The Malayan Exchange Banks Associations best agreed rates on London
and other countries as well as changes and highest and lowest rates during
the year are shown below :

1960 Selling- T.T. BuyingT.T.
January 2 On London 2/4 1/32 2/4 5/32
February 8 On London 2/4 2/4 1/8
16 On London 2/3 31/32 2/4 3/32
April 4 On London 2/4 2/4 1/8
December 31 On London 2/4 2/4 1/8
Selling- -T.T. BuyingT.T.
Lowest Highest Lowest Highest
2/10 15/16 2/10 31/32 Australia 2/11 9/32 2/11 11/32
2/3 31/32 2/4 New Zealand
155 3/8 155 5/8 Burma 156 1/4 156 5/8
155 3/8 155 5/8 India 156 1/4 156 5/8
154 3/4 155 Ceylon 156 156 3/8
155 1/4 155 5/8 Pakistan 156 3/8 156 3/4
53 13/16 53 5/8 Hongkong 53 3/8 53 3/16
32 5/8 32 13/16 U.S.A. 32 7/8 33 1/16
30 15/16 32 1/2 Canada 31 5/16 32 7/8

24


Chapter V

FOREST DEPARTMENT

1. Introduction.The State of Singapore has no productive forest. The
small forest areas under the Nature Reserves Ordinance, 1951, are not
managed by the Forest Office. The main functions of the Forest Office
continued to be:

(a) the grading and supervision of grading of timber under the Malayan

Grading Rules for both local and overseas markets.

(b) advising generally on the grading and utilisation of Malayan tim-

bers, both for home consumption and export overseas.

2. Sawmills and Log Supplies.Although the island of Singapore only
has a small nature reserve it is a major centre for the production of sawn
timber, plywood, rotans, damar and gums.

Forty two sawmills in all, eighteen being major and the rest with one
or two saw benches were in operation along with one plywood factory and
many wood-working plants, throughout the year.

The industry exclusively operated and managed by Chinese labour, is
mainly owned by Chinese except for the plywood factory which is under
British management.

The outturn per day of the largest mill was 46 tons of sawn timber
and the smallest less than 5 tons.

During the year 8 small new sawmills were established. One large mill
remained closed despite settlement of a strike. A mill specialising in the
manufacture of Venetian blind slates ceased production.

3. There were no changes in the sources of supply of logs for the
Singapore sawmills. The State of Johore supplies most of the logs, and the
neighbouring islands of Indonesia (particularly Sumatra) the rest.

There was also a substantial demand for logs during the second quarter
of the year because of the anticipated increase in ocean freight rates to the
United Kingdom and Australia. The supply of logs varied throughout the
year. Supplies were affected by the heavy monsoon rains towards the end
of the year. There was no change in the imposition of export fee of $5 per
ton on logs removed from the State of Johore in 1955, with the exception of
certain species of logs.

4. The following table shows total net imports of round logs (except
Teak) into Singapore from all sources in tons of 50 cubic feet:

From 1958 Quantity 1959 I960
Indonesia 39,018 32,123 34,800
Elsewhere 1,043 508 1,337
Total Overseas 40,061 32,631 36,137
Federation of Malaya ... 229,960 197,833 249,586
Total imports 270,021 230,464 285,723
Less exports 2 14,350 6,845
Total nett imports ... 270,019 216,114 278,878

The declared value of the net log imports from overseas in 1960 (i.e. excluding
the Federation of Malaya was $2,022,654.

25


5. Export of Logs.The export of logs, except for White Meranti
(Shorea spp.) and Mersawa (Anisoptera spp.) is prohibited. The exception
on the ban for the above species was made in June 1959. The total net
exports for the year was 4,996 tons. The following table shows -total exports
of graded logs (White Meranti and Mersawa) in tons of 50 cubic feet:

Japan 4,220
China 649
Australia 76
Israel 28
Netherlands 18
Italy 5

Total 4,996

6. In addition to log imports for the sawmills and the plywood factory,
shown above, sawn timber is also imported in considerable quantities; some
of this is merely in transit for export overseas (quantity not available), the
rest being for consumption in Singapore. The following table shows total
imports of sawn timber in tons of 50 cubic feet:

From Quantity

1958 1959 I960
Indonesia AMI 507 4,425
Elsewhere 33 26 108
Total overseas 4,380 533 4,533
Federation of Malaya 44,036 49,803 67,114
Grand Total 48,416 50,336 71,647
7. Teak {Imports).Teak does not grow naturally in Malaya, yet there is a considerable demand for it, particularly in the furniture trade, and substantial quantities are imported mostly from Burma and Thailand. The net quantities imported for the last three years are as follows:
1958 1959 I960
Quantity in tons of 50 cubic feet 6,008 5,392 5,786
Value $2,784,261 $2,170,372 $2,384,149 ,

8. Production.Demand for sawn timber overseas during the first half
of the year was brisk and very heavy prior to the freight increase referred
to below. For the rest of the year the trend of overseas graded timber markets
became very weak, resulting in the drop in prices. Local demand for sawn
timber showed very little change. From figures supplied by major mills, plus
an estimate for small plants, sawn timber production was about 195,706 tons
of 50 cubic feet compared with about 168,388 tons in 1959.

9. The Export of Sawn Timber from Singapore.The Prohibition of
Exports Order 1950 (G.N. No. S 557/50) which prohibits the export of timber
(and other commodities) except under licence or permit remained in force
throughout the year. The export of round or squared logs is prohibited except
for White Meranti and Mersawa logs, but licences are freely granted for the

26


export of all kinds of sawn timber, except Chengal and Merbau which are
in short supply. Exports to certain markets such as the United Kingdom,
Australia, and South Africa are restricted to timber which has been graded
under .the Malayan Grading Rules, or other approved rules. As in previous
years a high proportion of the grading was carried out by certified Timber
Graders employed by sawnmills or exporters. This system of private grading,
which is subject to percentage check by Government Timber Inspectors has
proved very satisfactory since its inception in 1949.

10. A table showing total overseas exports of timber sawn or graded
in Singapore is given in Appendix B. These figures do not include timber
sawn in the Federation and sent to Singapore for shipment overseas. Total
exports of sawn timber amounted to 103,258 tons compared with 70,301 tons
in 1959 and 62,183 tons in 1958.

11. Graded Timber.Total exports of graded timber increased from
30,286 tons in 1959 to 52,897 tons in 1960; full details will be found in
Appendix B but the main importing countries are shown below.

Country 1958 1959 I960
Australia 9,700 9,572 20,241
United Kingdom 7,583 7,782 13,308
New Zealand 4,312 2,580 3,117
South Africa 4,287 2,488 7,780
United States of America 858 2,962 1,215
Belgium 416 283 1,552

Exports of Keruing Wagon Planks to the United Kingdom showed a slight
increase from 214 tons in 1959 to 416 tons in 1960. Another noteworthy
feature of the export trade has been the present demand for Mengkulang from
European countries and the demand towards the end of 1960 was rather
substantial. A total of 1,430 tons was exported during the year compared
with 244 tons in 1958 and 348 tons in 1959. Exports to U.K. and Australia
showed an increase with prices keeping pace until August when demand
slackened and prices fell. The reason for this was most probably due to
substantial quantities shipped before the increase of the ocean freight rates.

12. Ungraded Timber.As the market for graded timber offered less
attractive prices than those for ungraded timber particularly towards the end
of the year, exports of graded timber decreased as the demand of ungraded
timber increased. Total exports of ungraded timber increased from 40,015
tons in 1959 to 50,361 tons in 1960; full details are given in Appendix B
but the main importing countries are shown below.

Country 1958 1959 I960
Aden 7,090 7,600 12,154
Mauritius 5,588 5,708 6,220
Bahrein 4,349 6,755 7,485
Indonesia 3,220 3,164 3,275

13. Impregnated Timber.The local building trade is now gradually
specifying impregnated timber and it is expected that substantial local orders
will be received in the next year or two. The vacuum pressure plant which
was opened in 1954 continued operation through the year and produced 1,731
tons both for local use and export:

-27


14. Freight Rates.The freight rates, ex Malayan ports on sawn timber
to U.K. was increased in June from 180 shillings to 200 shillings per ton of
40 cu. ft.; the net freight less 9\ per cent of basic is thus $96.96 per ton of
50 cu. ft. The rates to Australia also increased from 225 shilling to 240
shillings per ton (bundled) of 50 cu. ft. and is therefore $82.43 per ton of
50 cu. ft.

15. Graded Timber for Local Consumption.The timber grading service
provided by this office will grade timber for anybody. The value of being
able to obtain with certainty, both the kind and quality specified is now
being appreciated. Total quantities of timber graded for local consumption
in recent years are as follows:

1958 1959 1960

Quantity (tons of 50 cubic feet) 2,269 2,656 3,411

16. Kiln Dried Timber.The woodworking section of the Singapore
Polytechnic has installed a modern timber drying kiln, the capacity of which
is about 10 tons. Although the kiln is used for teaching purposes, plans
are being formulated to receive outside contracts. Besides this there is another
small timber drying kiln in one of the furniture factories. The day will come
when people in Singapore will buy furniture made from local timbers which
will not later shrink.

17. FuelSingapore imports almost all its firewood and charcoal
requirements, and supplies were adequate throughout the year. The following
table shows imports from all sources in tons weight:

From Indonesia Elsewhere 1958 22,026 Firewood 1959 19,303 1960 17,955 1958 27,426 Charcoal 1959 30,788 213 I960 27,335
Total overseas 22,026 19,303 17,955 27,426 31,001 27,335
Federation of Malaya 48,996 33,666 26,663 8,230 7,143 7,460
71,022 52,969 44,618 35,656 38,144 34,795

In additional all the slabs and off-cuts from sawmills were sold locally
for firewood. The steam sawmills are fed with sawdust in specially adapted
furnaces.

18. Revenue/ Expenditure.Revenue from grading fees amounted to
$48,547 compared with $46,425 in 1959. Expenditure in salaries, allowances
and other charges was $50,110.

19. General.The Forest Office continued to function as a branch of
the Division of Commerce and Industry, under the Ministry of Finance, and
very close liaison was maintained with the Department of Forestry, Federation
of Malaya. The new 1960 edition of the Malayan Grading Rules was published
in March 1960. A five-day refresher course on timber grading based on the
latest edition of the rules for Timber Inspectors and Graders was held in
August.

The Singapore Government also repeated its offer under the Colombo
Plan to give instruction in the grading of sawn timber under these rules.

28


APPENDIX A

GLOSSARY OF VERNACULAR AND TECHNICAL WORDS

Chengal

Geronggang

Balanocarpus heimii, a large tree producing much prized Heavy
Hardwood.

Cratoxylon arborescens, medium sized trees producing Light Hard-
wood.

Kempas

= Koompassia malaccensis, large trees producing Medium Hard-
wood.

Kerning

Merbau

Mengkulang

Mersawa

Dipterocarpus spp. large trees producing Medium Hardwood.

Intsia (.Afzelia) palembanica. large trees producing much prized
Heavy Hardwoods.

Heritiera spp. a fairly large tree producing Medium Hardwood.
Anisoptera spp. large trees producing Light Hardwoods.

Teak = Tectona grandis, the tree does not grow naturally in Malaya, the

timber is imported in substantial quantities from Burma and
Thailand.

Terentang =

White Meranti =
Ton of timber =
$1 Malayan =

Campnospermci spp. large trees producing Light Hardwoods.
Shorea spp. large trees producing Light Hardwoods.

50 cubic feet, whether of logs or sawn timber.

2 shillings 4 pence Sterling.

For local and export trading Malayan timbers are divided into three classes, viz:'

Light HardwoodsIncludes a large number of relatively light and soft general
utility timbers not naturally durable in the tropics.

Medium HardwoodsModerately heavy to heavy constructional timbers, not
naturally durable in the tropics.

Heavy. HardwoodsNaturally durable, heavy or very heavy constructional
timbers.

29


APPENDIX B

EXPORTS OVERSEAS OF SAWN TIMBER GRADED OR UNGRADED

IN SINGAPORE

(IN TONS OF 50 CUBIC FEET)

Exported to ; - -----
i Graded i i Ungraded
Aden .. i i 7,600
Arabia i 6 ; ! 1,863
Australia i 9,572 1 146
Bahrein i 7 : ! 6,755
Belgium 283 . 1
Brunei, Sarawak,
North Borneo .. i i 49 , 26
Canada .. i | 328 ! ! j
Cyprus ! 215
Denmark .. i l 51
Egypt 1 1 !
Eire 42 |
Fiji I j : 90
France 1 225
French possession in
Africa (Reunion) 1,373
Germany, West .. | 68
Goa (Portuguese
India) 48
Greece
Hongkong 13 :
Indonesia. Republic j
of .. .. i ! 225 3,164
Iran .. 197 i
Iraq .. ! 484 6*083 ;
Italy 38 :
Jordan i 41 1
Korea 259 1
Kuweit, Cocos,
Dubai (O.B.C. in 1
Asia) 346 3,756 |
Mauritius 354 5,708 j
Netherlands 177
Netherlands New !
Guinea 1
New Zealand .. j ! 2.580
Norway 17
Pakistan : 911 3*. 352
Portuguese Fast 1 i
Africa .. i 63 ! !
Rhodesia 489 i
Somalia 37 |
South Africa, Union 1 i )
of .. .. j 2,488 :
Sudan, Republic of ; 1 1
Sweden 20
Turkey .. ,
United Kingdom .. 7,782 i
U.S.A. .. : 2,962 | !
Vietnam " 8 1
Total .. 30,286 40,015 1
Approximate f.o.b. ' . y
value in Malayan
Dollars 89,934,234

I960

Total I Graded j, I ! Ungraded | Total
7,600 i | 96 12,154 12,250
1,869 i .. i I 1,717 1,717
9,718 20,241 20,241
6,762 ! 85 7*485 7,570
283 1,552 1,552
75 r . i j 83 83
328 233 233
215 248 248
51 83 1 i ;; ! 83
| 120 120
**42 103 103
90 1
225 979 | *979
1,373 : . j 1,802 1,802
68 1 63 ; 63
48 |. 28 ! 28
8 ! 8
*13 45 45
3,389 301 ! 3,275 3,576
197 i 123 123
6,567 I 5,294 5,294
38 23 23
41 ! 45 ! 45
259 252 252
4,102 5.684 | | 5,684
6,062 760 I 6,220 1 6,980
177 | 325 | i 325
132 132
2,5 80 i 3,i 17 3,117
17 ! 5 ! 5
4,263 243 i 6*305 6,548
63 1 288 , 288
489 975 1 975
37 j 53 53
2,488 ! 7,780 | I 7,780
284 , 284
*20 i 115 1 ! 115
I 11 ! li
7*782 ! 13,308 13,308
2,962 | 1,215 1,215
8
70,301 52,897 50,361 103,258
^ y

$18,050,944

30


Chapter VI

IMPORTS AND EXPORTS CONTROL DEPARTMENT

IMPORTS

General

During the year more import restrictions were removed. As from 1st July,
1960, the import of motor cars and trucks (passenger or commercial), radio
receivers (domestic) and watches is no longer on specific import licensing
basis except if such goods are consigned from Argentina, Albania, North
Korea, the U.S.S.R. and the Soviet Bloc countries in Europe.

On 1st July, 1960, imports from Czechoslovakia were placed on Open
General Import Licence, i.e. no individual licences are required for imports
from this country, and imports from Albania became subject to specific
import licensing arrangements as for imports from other Soviet Bloc countries
in Europe.

In November 1960, the import from all sources of Sterilised fertilisers
of animal origin was placed on specific licensing. This measure was introduced
as a result of Veterinary requirements.

For health reasons the importation of livestock from certain sources
continued to be prohibited and specific licences were required for meats of
cattle, sheep, goats, swine and boars, as well as for hides and skins of oxen,
buffaloes, sheep, goats and pigs.

The import by air from all sources of newspapers, periodicals, magazines
and comics printed in English continued to be scrutinised by the Ministry
of Home Affairs operating under the Undesirable Publications Ordinance.

Goods from the Dollar Area

Direct imports from Dollar sources, mainly from the U.S.A., rose in
1960 to $165,692,504 as against $99,416,260 in 1959. The sharp increase over
the 1959 imports is the result of the liberalisation on imports from the Dollar
Area on an Open General Import Licence basis in August 1959.

Imports of Dollar Origin goods from Hongkong

With the liberalisation of imports direct from the Dollar Area the volume
of Dollar origin goods via Hongkong showed a considerable drop during the
year. The annual value of these imports in 1960 was $8,976,957 compared
with $42,474,269 in 1959.

Imports from Japan

Import licensing arrangements remained unchanged during the year.
Imports from Japan in 1960 totalled $298,068,257 as against $243,458,151 in
1959. Textiles, cement, iron and steel were the principal commodities imported
from Japan during the year.

Imports from China

In August 1960 the import of certain types of textiles, originating from
mainland China, were put on specific import licensing. The licences were
made subject to shipments being landed in Singapore only as a result of an
import ban imposed by the Government of the Federation of Malaya on these
textiles.

31


Imports from Organisation for European Economic Co-operation (O.E.E.C.)
Countries in Europe.

Imports from these countries were mostly under Open General Import
Licence with a few items such as arms and ammunition which were under
licensing arrangements. Specific licensing has been lifted against the import
of domestic radios, motor cars, trucks and watches. Imports from this group
of countries showed an increase with a total of $276,041,465 in 1960 as
against $238,068,527 in 1959.

Imports from Argentina, the U.S.S.R. Soviet bloc Countries in Europe (except
Czechoslovakia) and North Korea

The total imports from these countries amounted to $10,196,727 in 1960
as compared to $5,024,560 in 1959. Imports from the U.S.S.R., consisting
mainly of cotton fabrics, showed an increase during the year. Specific licences
continued to be issued freely. Import Licences were required for all imports
from these countries.

Imports from the Sterling Area and the Neighbouring Territories

The arrangements for the importation of goods from the Sterling Area
and the Neighbouring Territories remained unchanged.

Imports from Other Territories

Import regulations for other territories not mentioned above continued
to be on the same basis as for imports from the O.E.E.C. countries.

Foodstuffs-Rice

Rice imports from all sources continued to be subject to individual
licensing and to stockpile arrangement as in 1959 until September 1960 when
the Rice Stockpile Scheme was temporarily suspended. Import licences how-
ever continued to be issued subject to the recommendation of the Supplies
Department.

Washing Soap

The importation of washing soap from all sources continued to be
subject to import licensing restricted to applicants with past import perform-
ances. This restriction was lifted in September 1960 since when licences were
issued on application to any importer. This change in policy was brought
about by the imposition of a Customs tariff on imported washing soap.

Live Stock

The import of oxen, buffalo, sheep, goats and swine into Singapore from
India, Pakistan, Ceylon, Burma, Indo-China, Hongkong and Japan was not
permitted throughout the year.

Amusement Machines

The ban on the import of coin or disc-operated amusement machines
including pintables, fruit machines, jack-pot machines of gambling nature and
spare parts thereof, but excluding record players, jute boxes and coin or
disc-operated cinematrograph machines from all sources, including the
Federation of Malaya, continued to be enforced.

32


EXPORTS

There was little change in policy relating to export control. The export
of palm oil, palm seeds and palm kernels continued to be licensed. The quota
system for the export of empty foreign beer and mineral water bottles
continued throughout the year.

The quota system for the export of imported brands of cigarettes to
the Indonesian Free Area continued throughout the year. In October 1960
a change in the policy of the overall quota was effected. Fifty per cent of the
overall quota was set aside for locally manufactured cigarettes. This change
in policy was introduced so as to encourage the expansion of the local
industry.

On 1st December, 1960 a revised list of Strategic goods embargoed to
Communist Countries in Europe and Asia was issued. This list replaced that
issued in September 1959 and liberalised a number of goods previously
prohibited or restricted to the Communist Countries.

Manifest

The number of ships manifests and aircraft way bills checked against
permits was 54,933 as against 57,400 in 1959. There was no change in
transhipment procedure.

General

The Control of Imports and Exports Ordinance was further extended
for one year from 8th December* 1959.

The number of Declarations, Permits, Licences and Certificates handled
during the year were as follows:

1959

1960

Inward Declarations 334,682 370,792
Import Licences 38,244 35,107
Import Certificates 107 39
Delivery Verification Certificates 35 18
Import Authorisation Certificates 26 40
Outward Declarations/Export Permit ... 370,178 406,028
Licences to export rubber to Formosa, Hongkong, Macao and South Korea ... 324 783
Ships manifest and Aircraft waybills received 57,400 54,933
Revenue The following table shows the amount of revenue collected dur
year: 1959 O' I960 s;
I. & E. Delivery Box Rentals ... J> 11,210 12,670
Sale of I. & E. Guides 242 195
Issue of Certified copies of declarations, etc. 1,761 1,333
Composition of offences 350 695
13,563 14,893

33


Chapter VII

SUPPLIES DEPARTMENT

The Department continued in 1960 its main function of maintaining a
Government rice stockpile. Apart from this it also kept records of stocks of
essential foodstuffs such as sugar, milk, flour and salt.

As previously, Thailand was again our main supplier. Due to consumers
preference for higher qualities of Thai rice a considerable portion of imports
was retained in Singapore or re-exported to the Federation of Malaya. Burma
was the next main supplier with the bulk of our imports destined for
re-export. Supplies also came from South Vietnam and Cambodia but .they
were mostly for the entrepot trade. In 1960 a small quantity of American
milled rice was also imported.

Throughout the year there was no restriction on imports and exports
of rice. Due to the high level of commercial stocks in Singapore importation
of rice by the trade was no longer subjected to purchase of a fixed ratio of
rice from the Government Stockpile with effect from 1st September.

In 1960, Government purchased 28,000 tons of rice from Thailand
consisting of 14,500 tons of 10 per cent grade and 13,500 tons of 15 per cent
grade. Issues from the Government stockpile amounted to 30,217 tons.

The Government stockpile continued to be operated on a no profit,
no loss basis taking one year with another. In pursuance of this policy prices
were revised whenever necessary as shown below:

1-1-1960

1-6-1960

Siam White
Rice

JO per cent
Per Long Ton

%

451

406

Siam White Sughandi
Rice (Japan)

15 per cent 15 per cent
Per Long Ton Per Long Ton

$ $

442 409

397

World prices of rice dropped considerably from January to June 1960.
In July the market became firm and prices advanced and reached a peak in
late August/early September. A slight decline however was registered up
to November, but since December the market again showed a upward tendency.

The highest and lowest f.o.b. prices of stockpile grades of rice for the
years 1958, 1959 and 1960 are as follows:

SIAM WHITE RICE

Highest Lowest. .

Per Long Ton Per Long Ton Per Long Ton - Per Long Ton
10 per cent 15 per cent 10 per cent 15 per cent
$ c. $ c. $ c. $ c.
1958 470 27 461 56 391 89 383 17
1959 413 65 404 95 370 11 348 35
1960 431 08 422 37 335 27 326 56

As from June 1960, the Government of Thailand offered rebates to rice
merchants who imported not less than 200 metric tons of rice per month from
Thailand. This system was introduced so that Thai rice could be sold at a
lower and more competitive price.

34


During the period from 1st January to 31st August, 1960, 2,124 Contracts
on sales of rice were signed with rice importers. These were subdivided into
local sales and re-export contracts as follows:

The Department had in use four Government-owned rice godowns, which
had been maintained in good condition.

Messrs. Seng Huat & Co. ceased to act as Government Rice Agents on
31st July. Messrs. Kuok Brothers Ltd. were appointed instead with effect
from 1st August, 1960.

As from 14th April, 1960, Messrs. East Asiatic Co., Ltd. (Bangkok
Branch) were appointed as handling agents for the Singapore Government in
place of Messrs. Steel Brothers & Co. (Siam) Ltd.. Messrs. Steel Brothers &
Co., Ltd., Rangoon continued to act as the Governments handling agents
in Burma.

Local Sale" Contracts
Re-export" Contracts

307

1,817

Total

2,124

35




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