The Business Times, 18 October 1976

Microfilm: NL8961
Total Pages: 10
1 10 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 1455/76 MONDAY, OCTOBER 18, 1976 50 CENTS
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  • NEWS SUMMARY
    • Article
      Lock icon What Hua told Somare...
      82 1 AP HONGKONG, Sun. Chinese Premier Hua Kuofeng informed Prime Minister Michael Somare of Papua New Guinea last week that he had been elected Chairman of the Chinese Communist Party to succeed Chairman Mao Tse-tung, Mr. Somare reported today. Mr. Somare told a news conference in Hongkong
      AP  -  82 words
    • Article
      Lock icon Referendum deaths
      70 1 Reuter MANILA, Sun. Two soldiers and four election officials were killed when an armoured vehicle carrying ballot papers in the current Philippines referendum hit a land mine in the troubled island of Jolo today. The incident, disclosed by police, was the first reported serious interference with the referendum
      Reuter  -  70 words
    • Article
      Lock icon Anti-Red law tightened
      79 1 Reuter BANGKOK, Sun. Thailand's new military rulers today announced a toughening of the existing anti-communist law providing for restriction on movement of individuals out of the country and into areas where communist guerrillas are active. Radio Thailand announced amendments to the legislation which has been in effect
      Reuter  -  79 words
    • Article
      Lock icon S'pore banquet in Peking
      56 1 Reuter HONGKONG, Sun. Mr. E.W. Barker, president of the Singapore National Olympic Council and Minister of Law and the Environment, hosted a banquet in Peking last night the New China News Agency reported. The president of the All-China Sports Federation, Mr. Chao Cheng-hung and other Chinese
      Reuter  -  56 words
    • Article
      Lock icon Farewell dinner for Hon
      50 1 AP AUCKLAND, Sun. Prime Minister Robert Muldoon held a private farewell dinner tonight for Singapore Finance "Minister Hon Sui Sen. During his one-week visit, Mr. Hon had talks with government leaders about economic cooperation between the two countries and the possibility of joint fishing Ventures. AP.
      AP  -  50 words
    • Article
      Lock icon Chiao-back in Peking
      83 1 AP TOKYO, Sun. Chinese Foreign Minister Chiao Kun-hua returned to Peking by air today after attending the 31st session of the United Nations General Assembly, Peking'* Hslnhua News Agency said. It said Mr. Chiao was met at the airport by VicePremier Ku Mu and other officials^. Mr.
      AP  -  83 words
    • Article
      Lock icon NZ-lran trade pact
      75 1 AP TEHRAN, Sun. New Zealand Deputy Prime Minister Brian Edward Talboys is expected to sign an agreement to increase annual trade between Iran and New Zealand to US$l4O million (Ss3'3 million), an Iranian official said today. Agriculture Minister Mansour Rouhani said that under the protocol. New Zealand
      AP  -  75 words
    • Article
      Lock icon Refugees: Hanoi lashes out
      62 1 Reuter HONGKONG, Sun. In a bitter attack, Vietnam today accused Thailand of sending some 7,000 Vietnamese to concentration camps In a northern province. The 7,000 had been charged with subversion and rounded up on the order of the Governor of Nong Khai Province, the Vietnamese Foreign
      Reuter  -  62 words
  • Article
    TOP TEN STOCKS
    114 1 THE following list of stocks gives the ten most dealt in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units, closing prices on Friday and high and low for 1976. Company T uraover Prices High Low Oct. 15 1976 Haw
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  • LOCAL STOCK INDICES
    • Article
      Singapore
      80 1 Oct. 11 Oct. 12 Oct. 13 Oct. 14 Oct. 15 B T. Index: 255 86 251.20 256.55 250.16 248.11 'Industrials: 257 09 254.48 255.26 253.09 251.91 457.87 454.65 457.52 452 68 451.52 "Hotels: 152 37 151.55 151.68 151.55, 151.32 •Properties: 146.75 145.78 145.20 145.12 142.95 •♦■Tins: 95.61 95.57 95.57
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    • Article
      Malaysia
      76 1 Oct. 11 Oct. 12 Oct. 13 Oct. 14 Oct. 15 •Industrials: 276 06 274 *****.47 274.01 273.29 (^Finance. 389 00 385.11 386.81 385.41 382.42 "Hotels: 170.63 170.63 170.63 170.63 170.63 •Properties: 149 22 147 54 148.31 147.16 146.83 Tins: 93.43 93 58 93.34 93.34 93.36 rubbers: 294 26 294.12
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  • Article
    Strong pick-up in trade sector
    209 1 SINGAPORE'S trade sector continued to perform* as expected, recovering strongly from the doldrums of yesteryear. In the first nine months of this year, total two-way trade has made an impressive comeback, rising nearly one-fifth in value over that of the same period in 1975, according
    209 words
  • Article
    $187 mall in first half
    89 1 TOTAL manufacturing investment commitments, local and foreign, rose to. $187 million in the first half of this year a 50 per cent increase over the second half of last year, according to the Economic Development Board. The foreign investment component was $155 million, an 83
    89 words
  • Article
    Lock icon Output up
    41 1 UPI TOKYO, Sun. Labour productivity in Japan's 20 major industries rose by an average of 1.5 per cent in fiscal 1975 ending March 31, compared with the same period in fiscal 1974, according to a Labour Ministry survey. UPI
    UPI  -  41 words
  • Article
    More capacity for steel foundries here
    670 1  -  By QUEK PECK LIM THE steel foundry business in Singapore is going through the largest expansion of plant and machinery in its history. The groundwork has been laid for a tenfold increase in the capacity to produce specialty steel castings of quality in the
    670 words
  • Article
    Lock icon ON THE TRAIL OF THE REDS
    157 1 Reuter BANGKOK, Sun. Police and troops today continued to track down a list of communist suspects and antigovernment elements In a nationwide purge being pressed by Thailand's new military rulers. Police director-general Srlsuk Mahlntorgthap said he did not know exactly how many people had
    Reuter  -  157 words
  • Article
    Lock icon Growth in US lacks lustre
    435 1 AP WASHINGTON, Sun. The latest economic statistics from the Government signal continued but unspectacular growth In the US economy. The broadest statistic released on Friday was the industrial production index which showed that the output of the nation's mines, factories and utilities failed to advance
    AP  -  435 words
  • Article
    Lock icon More foreign firms invest in America
    307 1 AP NEW YORK, Sun. Foreign companies' investments in the United States In the first three quarters of 1976 are greater in number than in the total year 1975, th«~ Conference Board- reports. But the business research organisation says foreign Investments during the third quarter
    AP  -  307 words
  • Article
    'Team up to push S'pore goods worldwide'
    392 1 SINGAPORE companies, especially those In noncompeting areas should get together and form separate companies espclally for the purpose of promoting domestic exports around the world. There is a very definite scope for this, especially when the set-up Is run along purely commercial lines.
    392 words
  • Article
    SHARP DROP IN JOBLESS RATE
    317 1 THE number of jobless persons in Singapore has dropped sharply, if the "live" register of unemBloyed persons at the linistry of Labour contains all persons who are out of work. According to the latest statistics from the ministry, there was a significant decrease of nearly
    317 words
  • Article
    Lock icon Japan team in London for high-level talks
    484 1 AP LONDON. Sun A 10-man delegation of Japanese industrialists arrived in London yesterday for highlevel talks with British industrialists and government officials. Speculation that Britain may Impose some form of import controls was expected to be a main topic of discussion. "We will
    AP  -  484 words
  • Article
    YES AND YES!
    151 1 MANILA, Sun. -r Five hours after the two-day referendum ended here today, the Government Commission on Elections said that in the referendum on whether martial law, proclaimed four years ago, should continue. 418,447 or 97 per cent voted "yes" and 17,797 voted "no." In the plebiscite on
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      42 1 n ca poo* SEE PAGE 12 \-%.[-%+.*_*</$-[*@%"@-[_[,&{!< SEE THIS PAGE INSIDE LEISURE/TV ft Radio Pg 2 OVERSEAS Stock* Pg 7 FEATURES News Pg 3 COMMODITIES Pg 8 FEATURES Pg 4 SPORTS LOCAL International LOCAL 6 Overseas Co. Newt Pg 6 News Pg 10
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    • Advertisement
      Page 1 Advertisements Column 2
      135 1 Foreign Currency dealings? ACBC makes it easy. Come to the bank that not only has the resources, but the connections. Be it in renminbi, or other major foreign currencies. Or other aspects of international transactions. ACBC is the bank that makes banking easy for all its clients. With a simple
      135 words
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      Page 1 Advertisements Column 3
      3 1 See Page It.
      3 words
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      Page 1 Advertisements Column 4
      177 1 Wiyfbong MAF A lending hand when Wayfoong Mortgage you need and Finance (Singapore) Limited it IllOSt Shaw House. Ground Floor. SM Orchard Road. Singapore 9. Tel: *****7. SEE PAGE 10 11 L'Vr 'VS. r' e;v;-r.'mM? TV a '-'.3 <■ v' r,. immms V v //V > <" Only 2.5 mm
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  • Article
    BATTERED £
    677 2 BATTERED TH J? Japanese had their economic miracle; now it is the turn of the British, but their miracle is one of a different sort. In less than 30 years they have transformed their nation from the strongest and wealthiest in Europe into the poorest and weakest. The "land of
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  • REVIEWS
    • Article
      CKT takes you on a tour of a full orchestra
      861 2 MUSIC THERE Is a new piece of music, by Carl Orff, cumbersomely called De Temporum Fine Comoedla. Actually, translated from the Latin, it has a properly commercial ring to it: Play About the End of Time. Things go on like
      861 words
    • Article
      Lock icon The varied meanings of the word 'blue'
      634 2  -  I BOOKS 1 By CHRISTOPHER LEHMANN NYT On Being Blue: a philosophical inquiry. By William Ga*«. 91 page*. Publisher: David Godine, hardcover, US$ 8.95. A CELEBERATION of the colour blue: blue pencils, blue noses, blue movies, laws, blue legs and stockings. the language
      NYT  -  634 words
    • Article
      Lock icon A refreshing analysis of Morris' career
      972 2  -  By T. DODSWORTH Financial Times William Morris, Viscount Nuffield by R. J. Overy. Euro pa Publications, £4.50 WHEN WILLIAM MORRIS was at the height of his powers as a rising car magnate In 1929* he became involved In a protracted law-suit over alleged tax
      Financial Times  -  972 words
    • Article
      The criteria of art selection
      593 2  -  ART By CONSTANCE SHEARES Curator, National Museum THE exhibitions of contemporary Singapore art presented at the National Museum Art Gallery are all Juried by a selection committee comprising members of the professional staff of the National Museum, experts in art education, and a highly respected
      593 words
    • Article, Illustration
      Lock icon A film that scares the hell out of you
      713 2 Marathon Man, starring Laurence Olivier now on in New York. Reviewed by Vincent Canby NYT IF YOU were forced at gunpoint to swallow a US$l6,OOO diamond, what would you do? Stall for time by asking for a glass of water? Say
      NYT  -  713 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      193 2 Through constant and penetrating research into the science of sound reproduction, it seeks to improve on each achievement W^rm TOHKSI In this respect. AR has set itself and accomplished the following objectives M maximum accuracy of reproduction f-Z y regardless of speaker system size absolute quality control to ensure 1'
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      260 2 SINGAPORE 5 3.00 PM Opening Announcements followed by Valar Pirai (Tamil) 3.30 Diary of Events (Tamil) 3.35 General Hospital 4.15 A Place To Live "Family Matter" (Last Episode)* 4.30 Intermission 6.05 Opening announcements followed by Cool McCool 6.30 News in Brief 0 635 Have Gun Will Travel "Billy Banjo" 7.05
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  • Article
    Lock icon Why MNCs shy away from investing in Third World
    747 3  -  By C.H. FARNSWORTH NYT A WAVE of disenchantment over investments in the Third World is spreading in the board rooms of multinational corporations and Is already leading to a cutback in private capital flow. In recent months, there has been growing
    NYT  -  747 words
  • Article, Illustration
    One man's week
    1192 3  -  By YASUO TADA Mr. Yaauo Tada ia president of the Singapore Nomura Merchant Banking Ltd. I AM sitting here at home on a Sunday evening scribbling away on "One Man's Week" and wonder when does the week begin and when does it end? Anyway I'll endeavour to
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  • Article, Illustration
    ITC to review buffer stock operating prices
    389 3 Reuter LONDON. The International Tin Council (ITC) will resume Its second session under the fifth International Tin Agreement (ITA) on Dec 6 to review but not necessarily revise buffer stock operating prices on the basis of latest production costs, delegate sources said. The
    Reuter  -  389 words
  • Article, Illustration
    ZERO GROWTH FOR RHODESIA DESPITE GOOD HARVEST
    663 3  -  ANALYSTS PREDICT By DAVID BINDER NYT RHODESIA'S economy Is (altering less because of economic sanctions imposed by other countries than because of serious transport difficulties and an increasing outflow of skilled labour, United States Government analysts said an Saturday. The analysts predicted that
    NYT  -  663 words
  • Article
    Call to set up $100 mil investment fund
    206 3 KUALA LUMPUR, Sun. The secretary general of the Malaysian Chinese Association Dr. Neo Yee Pan, has called for the setting up of a $100-milllon Investment fund to establish Joint ventures with the other communities and foreign investors. This will enable the Chinese
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  • Article
    Beecham now produces raw penicillin
    172 3 BEECHAM Pharmaceutical has Integrated-back-wards towards the manufacturing of raw penicillin in Singapore since August this year. This was revealed by the Economic Development Board In an article in its newsletter, Singapore Investment News. The company, which is a wholly-owned subsidiary of the Beecham Group of
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      335 3 The best pi; ace to lunch. You expect the best. You want yourclients to have the best. So when you come to the best. that's exactly what you'll get. The best. Yourchoice from our exhilarating gourmet menu. With fine vintage wines. And of course, the impeccable service that you have
      335 words
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  • Article, Illustration
    Signs point to another economic boom in HK
    971 4  -  By THOMAS MULLANEY NYT IT IS difficult to find many pessimists these days in the financial and business community of this throbbing city, which is both a barometer of economic activity in the industrialised world and the main door to China's commercial
    NYT  -  971 words
  • Article
    Manila threat to S'pore as S-EA convention centre
    617 4  -  By SOH TIANG KENG JUDGING by the way it stated the financial extravangza the World Bank-International Monetary Fund meeting Manila may prove to be a future rival to Singapore in the claim to the convention centre of South-east Asia title. Generally speaking,
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  • Article
    British economic chaos due to its class system
    977 4  -  By PETER KILBORN NYT EVEN many of its critics consider Britain an admirable country: the mother of modern democracy and modern Industry, a peaceful country of backyard rose gardeners and unarmed cops that has produced more than its share of scientists. statesmen,
    NYT  -  977 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      307 4 Different people like different w< 1 >,:~t *<? i- i f V V\rf' 4, ft r y :;,v i: ag-' Heuga blue Heuga green Heuga grey. V'i v,Jf&7*W c <v 'i* if; ol< It's not surprising. Jheir revolutionary carpet tiles offer such a wide range of beautiful colours and luxury
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    • Advertisement
      Page 4 Advertisements Column 2
      101 4 HI6H PRECISION MACHINING CAPACITY Monufocturer equipped with latest German metal-working mochines for mass production or large series provides the following capacities. High precision TURNING on Auto-lathes Precision BORING and MILLING work. High precision DRILLING operations. Fine and precision centreless GRINDING. For more information phone ***** (TTE.I LTD S HI-FI S
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  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      556 5 4 r. Multi-Co explains how to buy for Indonesia wdthout buying trouble If you're biding heavy equipment for Indonesia, read about the five benefits to be had doing it our way. Save yourself big money. Multi-Corporation is a member of the Astra Group. Indonesia's largest and most dependable group of
      556 words
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  • COMPANY NEWS
    • Article
      Bovis — searching for solutions
      1430 6  - Bovis searching for solutions By ARTHUR NG WITH the proposed rights issue by Bovis South East Asia, Peninsular and Oriental Steam Navigation appears to be taking strenuous steps to solve its major South-east Asian problems. It inherited the problem in 1974 when it took over Bovis' UK parent Bovis Ltd.
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    • Article
      Bukit Katil comes tumbling down
      327 6 A DECLINE of 10 per cent in rubber production coupled with the steep downturn in the price of palm oil caused pre-tax profit at Bukit Katil Rubber Estates to fall by a severe 47 per cent to M 5239,850 for the year ended April 30
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    • Company meeting today
    • LATEST RESULT
      • Article
        GUINNESS MALAYSIA
        56 6 Group pre-tax profit M 513.07 million ($13.61 million) for the year ended Aug 31, 1976. Sales $99.13 million ($BB.Bl million). Final dividend of 17.5 per cent less tax (4.4 per cent tax free and 10 per cent less tax), making 30 per cent (11.9 per cent tax free
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    • Article
      SBS feels effects of property slump
      357 6 THOUGH Singapore Build* lng Society has reported a 5.3 per cent profit growth for 1975/76, it is apparent that the stiff competition for housing Joans In a still depressed property market Is beginning to have telling effects on results. A breakdown of Its results
      357 words
    • Article
      Upturn likely for Lien Hoe
      204 6 JUDGING from the Interim results, It looks as though Lien Hoe Industries has reversed Its declining profit trend.' At half-time, ended June 30, 1976, group pre-tax profit rose by 66.9 per cent to MSI.9 million. And If this first half-year performance Is any indication of
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    • Article
      DIVIDENDS ANNOUNCED
      398 6 Current Ei Date Total far Total far payment Date payable tbe year previous year BaU(M) 0*+ Sept. S Oct. 18 14* Cbam. Ind. (F¥) 10HTE Oct. 6 Oct. 19 10* TE 10* TE OriaaUlHMf. a*+ Sept. 29 Oct. 19 8*+ 15* NrrSMdtk O.C.B.C. 10*+ Oct. 4 Oct. 21
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  • INTERNATIONAL COMPANY NEWS
    • Article
      IFSE sets new code for stocks listing
      445 6 Reuter TOKYO, Sun.— The International Federation of Stock Exchanges adopted a resolution recommending new standardised minimum condition for the Initial listing of stocks on member exchanges, Federation chairman Mr. James Needham said. Mr. Needham told Journalists at the end of the Federation s
      Reuter  -  445 words
    • Article
      Anti-trust: Heinz files suit against Campbell
      166 6 Reuter PITTSBURGH, Sun. H.J. Heinz said it filed an antitrust suit against Campbell charging it with attempting to monopolise trade in the manufacture and sale of canned soup. Heinz is also claiming US$lO5 million damages. The suit, filed in the Federal District court for
      Reuter  -  166 words
    • Article
      RCA third quarter higher
      110 6 Reuter NEW YORK Sun. RCA Corp has raised third quarter net earnings to $33.4 million from $32.8 million on revenue of $1.33 billion against $1.22 billion previously. Earnings per share rose to 43 cents from 42 cents. As a result, net earnings for the first nine
      Reuter  -  110 words
    • Article
      FTC to seek injunction
      107 6 Reuter WASHINGTON. Sun.- The Federal Trade Commission said it is seeking a preliminary injunction in Federal court against the merger of Atlantic Richfield and Anaconda. The FTC issued a complaint alleging the proposed merger may substantially lessen competition in the production of uranium oxide and refined
      Reuter  -  107 words
    • Article
      W. Haeuser income doubles
      123 6 Reuter NEW YORK. Sun. With the rapid improvement in the.timber and the US housing markets, nine-month net income at Weyerhaeuser jumped by 43.8 per cent to U*****.2 million, including a third quarter gain of 37.8 per cent to $80.5 million. Weyerhaeuser attributed the higher earnings to
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    • Article
      Chemical NY
      44 6 NEW YORK, Sun. Third quarter net earnings at Chemical New York were U5524.9 million ($20.6 million), making a ninemonth total of $67.2 million ($74.3 million). Earnings per share were $1.72 ($1.42) for the third quarter and $4.65 ($5.14) for the nine months.
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    • Article
      Australia plans mandatory CCA
      228 6 Reuter SYDNEY, Sun. Australian accountants will be required to adopt Current Cost Accounting CCCA) from July 1 1978, The Inslttute of Chartered Accountants in Australia and the Australian Society of Accountants said in a statement. The two councils recommend CCA be used for the preparation of
      Reuter  -  228 words
    • Article
      Goodrich to complete sale of Dutch unit
      169 6 Reuter AKRON, (Ohio), Sun. B.F. Goodrich said It will take a charge of US$l2.l million against third quarter earnings to write off its remaining 49 per cent interest In International B.F. Goodrlch-Europe of the Netherlands. The company said it has completed the previouslyannounced
      Reuter  -  169 words
    • Article
      Phillips expects rise
      118 6 Reuter PHILADELPHIA. Sun. Phillips Petroleum still expects 1976 net tc exceed 1975's U*****.6 million or $4.50 a share, senior vice president Mr. Robert N. Sears said after an analyst meeting here, repeating an earlier forecast by Phillips chairman Mr. W.F. Martin. Mr. Sears again revised downward Phillips'
      Reuter  -  118 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      197 6 Alex Josey has long been an observer, recorder and commentator of the Singapore scene. In this new book, he examines and explains the success of Singapore's tripartite alliance of Government, workers and employers. A substantial part of the book is devoted to the full text of fifteen essential labour laws
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  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      CHICAGO BOARD OPTIONS
      1045 7 On Octo"ber 15 AIOM tlm UNI \tn T»( Am Tet Am Trt A»oo *reo Atun 'J-.nl W Bank A<n &KAS EWftft l>th c IkHhS OUr-p C.ilrp CMtrp Oo« CJ> Do* cr. tx»»ct> Oow Ch iu Xd KktKd Ca*K4 [nun Exait Maun twin rnro i rr) Fort n#na
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    • Article
      BUSINESS TIMES INDUSTRIAL CROUP INDICES
      144 7 JA.V1. AJ1* 4. 1*71 !■»< iMtNifrraiAJ.0B0i)F \mn* Wad ki«4h( Hiiih I.OW IVM KMWT CHANG* l« SI SI 14 mt» 3M I* H4M 4au it ***** IJ0.1l yf •i sr> 5*. iW M JO i»o IM 11 131.11 112 II wr c» 11 K 183 14
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    • Article
      New York
      1211 7 NEW YORK: Investor concerns about the U8 economy and the presidential election took a back seat to bargain hunting last Friday as the stock market squeezed out a small gain. The advance, the second one last week, comes after three weeks of almost uninterrupted market declines. "A shift
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    • Article
      Amsterdam
      292 7 AMSTERDAM: The market last Friday fell after Initial steadiness as the recovery of the past two sessions petered out. Late trading was limited ahead of the weekend Dutch internationals were all lower. Elsewhere, shares fell with the Isolated exceptions of Fokker. Oce, Deli Ahold. State loans firmed strongly. OCT
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    • Article
      Frankfurt
      246 7 FRANKFURT: The market last Friday fell on average up to five marks to a new year low amid foreign and domestic selling. Leading shares shed generally between two and five marks Elsewhere Maaaesmaaa fell six, Karstadt 11 aad Metallgeoellscfcaft 16 marks. However, on the bond market public loans gained
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    • Article
      Zurich
      259 7 ZURICH: The market eased In more active trading last Friday after Wall Street s overnight decline. Banking sector losses were limited, but among flnanclals For bo. Interfood 'A, OerlikonBuehrle and Schindler Bearer showed larger declines. Zurich Versicherung and Winterthur participation certificates were under pressure among insurances. Brown Boveri, Ciba-Geigy,
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    • Article
      Jo'burg
      392 7 JOHANNESBURG: Oolds hardened last Friday following higher overseas bullion lndtca-. Hons Financial minings were mixed in cautious trade. De Boers was unchanged at 325 after fluctuating two cents either way. Platinums were active but prices were little changed. Coppers were mixed with a firmer bias. Other minerals were unchanged
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    • Article
      Toronto
      199 7 (XT IS C* Abtubt 11% Alcan 24'. S Algoma 23% unch Bank Mont 15H unch Bell Tel 48N BelhCorp 11W unch BP Can Ltd 8«. -<* Bruscan 10% unch Camp Red Lake 18.B unch Can Imp Bk 25% -H Canpac 1«S •<m Can pa c Inv PI 37 Carling
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    • Article
      Paris
      370 7 PARIS: The market was mixed In active trading last Friday. Factors weighing against the market were the one percentage point rise in call money to 121/16 per cent and the lower trend in Wall Street. Pociaia was unquoted on the forward market because of an influx of buying orders,
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    • Article
      Brussels
      153 7 BRUSSELS: The market continued to decline in quiet preweekend trading last Friday. Electrofiaa, Acec and Tesenderloo rose while Compagnie Lambert. SoAm. (obepa, Traction et Electricite, HaianutSatnbre, Wagona-Lita, Tobacofina and Arbed fell Hobokea rose despite saying results for the year to Sept 30, 1970. were again disappointing. British stocks were
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    • Article
      Milan
      136 7 •MILAN: The market closed lower over a broad front In thin trading last Friday. Declines included Fiat, Montedison, both Olirettii and Pirellis, Mediobanca. Aasicuraziooi Genera ii and Bastofi. Bon<JS were narrowly mixed in fairly active trading. OCT IS Lire Ank: 400 -2 As*X" Gen ***** -1000 Bastogi 882 -13
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    • Article
      Indices
      83 7 FINANCIAL TIMES INDUSTRIALS Friday 292.9 Thursday 289.0 Week ago 292.7 TIN 119.09 Thursday 122.21 Week ago 121.52 RUBBERS 473.90 Thursday 476.24 Week ago 470.82 OILS 333.83 Thursday 334.12 Week ago 323.42 DOW JONES AVERAGE INDUSTRIALS Friday 937.00 Thursday 935.92 Week ago 952.38 LONDON DOLLAR PREMIUM Friday 119 1 to
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  • Briefly
    • Article
      Quebec bonds
      73 7 Reuter LONDON. Sun. Quebec Hydro Electric plans to raise US$lOO million through^an BVi per cent bond issue in the Eurobond market, S.G. Warburg said as issue lead manager. The issue is to have a tenyear maturity with no sinking fund. Other members of the managing group include Credit
      Reuter  -  73 words
    • Article
      Astlemaine Perkins
      81 7 Reuter BRISBANE. Sun. On a 37.6 per cent jump in gross revenue to A 5161.19 million net profit of Astlemaine Perkins rose by only 10 per cent to $8.48 million. Tax was $7.09 million ($6.28 million), interest charges $91,000 ($97,000) and depreciation $3.27 million ($2.8 million). Extraordinary profit
      Reuter  -  81 words
    • Article
      Banks set rates
      69 7 Reuter NfW YORK. Sun. Banks for Cooperatives said an Interest rate of 5.25 per cent has been set for U*****.5 million of its six-month bonds due May 2 1977 and a rate of 5.35 per cent for 0921 million of Federal Intermediate Credit Banks nine months bonds
      Reuter  -  69 words
    • Article
      Sanyo bonds
      59 7 Reuter LONDON. Sun. Market conditions'suggest the US$3O million 15 year convertible bond issue for Sanyo Electric many carry a 6-'4 per cent coupon when final terms are fixed on October 26, J. Henry Schroder Wagg said as joint lead manager. The bonds will be convertible from December one,
      Reuter  -  59 words
    • Article
      Goldsworthy — Nippon St venture
      97 7 Goldsworthy Nippon St venture Reuter PERTH, Sun. A fourman Mt. Goldsworthy joint venture team will begin talks with Nippon Steel in Tokyo on Tuesday on proposals for developing the Area 'C' iron ore deposit in Western Australia, a company spokesman said. Mr. KG. Wallace, manager of the venture operators. Utah
      Reuter  -  97 words
  • Article
    NYSE still uncertain
    344 7 FEARS about the economic recovery and the outcome of the US presidential elections continued to affect trading on the New York stock market last week. And prices fell for the fourth week running with the Dow Jones industrial average showing a drop of 15.38 points t<r close
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  • Article
    Sydney stages a recovery
    357 7 Reuter THE Sydney stock market pulled out of its steeD nosedive, in a dramatic rally before profit-takers began to pare most of the strong gains recorded last week. Earlier, the market had plunged to its lowest point for the year, under a relentless round of battering
    Reuter  -  357 words
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      176 7 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who
      176 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Rubber market
      220 8 L6NDON, Sat. The terminal wai extremely quiet In the afternoon, prices showing little net change from lunch time levels. The official tone was uncertain. Prices closed 0.25p higher compared with Thursday (near Nov at 58.25p) to 0.45p lower. Turnover totalled 253 lots of 15 tonnes Including one call
      220 words
    • Article
      Straits Tin
      193 8 THE Straits tin price In Penang on Saturday fell $9.25 to close the week at $1,191 per picul on an official offering up 5 tonnes to 200 tonnes. In LONDON on Friday afternoon, tin on the day was £85 down for Cash and €100 lower for three months.
      193 words
    • Article
      Palm oil
      114 8 THE following Palm CHI price* were are elf Rotterdam and are quoted In stated. Malaysian 5% ffa bulk Nov/Dec/Jan Sumatra 5* Oct Nov Dec Jan Feb Mar quoted In London on Friday. The prices U8 dollars per long ton unless otherwise Friday Prev. 455 sir 443 sir unch
      114 words
    • Article
      Produce prices
      264 8 In NEW YORK on Friday, traders reported sharply higher cash pepper prices. They attributed the firmness of the market to a flurry of local replacement buying stemming from a delay In steamer arrivals and strength at origin. Closing prices (In US cents per lb ex-dock NY): Malabar; Spot
      264 words
    • Article
      Gold
      454 8 AFTER a Friday afternoon London gold fixing at U8 $115.70 per ounce, up 70 cents, the Singapore gold market sprang Into life on Saturday morning. London delivery gold was traded higher around US $118.80 while the Singapore kilo bar rose to almost S$9,300. Trading was brisk and volume good.
      454 words
    • Article
      Copper
      287 8 LONDON Sat. Copper wlrebars on the day showed losses of £1 for Cash and fully £2.50 for Three Months. The market worked lower under small scale liquidation prompted by the sagging tendency at New York and Three Months traded from £800 down to £795 per tonne. On the kerb,,
      287 words
    • Article
      Silver
      150 8 LONDON, Sat. 811 ver closed lower on the day on Friday at around 251.80/252.80p for Spot and 262.20/263.20p for Three months. Dealers said trading was fairly quiet during the day with the price dominated by currency considerations. In NEW YORK on Friday, after holding steady throughout the day, silver
      150 words
    • Article
      Zinc
      32 8 LONDON, Sat. Zinc was £0.50 up for Cash and unchanged for Three Months. The market maintained Its early steadiness on modest covering operations. Sales of 1,350 tonnes were boosted by carries.
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    • Article
      Lead
      31 8 LONDON, Sat. Lead lost fully £1.50 for Cash and £2 for Three Months. The market held around end morning levels in negligible trading of 325 tonnes which was mainly carries.
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    • Article
      Sugar
      278 8 LONDON, Frl. Quiet conditions persisted with prices showing very little change to finish £0.55 lower to 10.70 higher. Sales of 1,461 lots consisted of about half self-trading operations. The London dally raws price was down {3 at £125 and the whites price was down £2 at £16^ There was
      278 words
    • Article
      Coffee
      181 8 LONDON, Sat. Robusta futures displayed a steady trend during the early part of the afternoon and this prompted fresh buying and short-covering which later touched off stoploss orders. At the closing call the near Nov position reached £2,000 per tonne in very thin dealings and the market closed 127
      181 words
    • Article
      Soviet gold sales likely to rise
      386 8 Reuter PARIS, Sun. Soviet gold sales to Western nations are expected to rise to 10 million ounces In 1977 and to remain above this level up to the end *f the 1870's, Hudson Institute, Europe said. THE Paris-based forecasting unit, which is associated with
      Reuter  -  386 words
  • MONEY AND EXCHANGE
    • Article
      Singapore
      157 8 ALTHOUGH the Bank of England came forth with measures to boost the British unit, sterling however, eased from an opening high level of US$l.6630/50 against the U8 dollar to a low level of 91.6370/90. Bterllng/81ngapore dollar also moved from a peak lavel of 94.0645/4.0000 to 4.0190/4.0240. Easier Eurodollar rates
      157 words
    • Article
      Asian $ rates
      217 8 Asian rates RATES eased over the week falling between 1/16 It all round. However, they remained steady to close slightly firmer for the week. Short dates were easier with Feds falling below the 5% level. ASIAN currency iveran deposit* rates for the week ended Oct 15 UH <BM Pricw) Hick
      217 words
    • Article
      Euro $ rates
      117 8 Euro rates LONDON. Frl. Period Eurodollar deposit rates closed easier on balance while shorts closed relatively steady. Trading volume was contracted owing to weekend Influences, dealers said. Fixed dates opened around 1/10 harder in response to the sharp rise in US money supply and held steady for much of the
      117 words
    • Article
      Discount market
      230 8 THE low interest rate continued to jjrevail throughout the early part of the week with overnight rates fluctuating between 21/2 3-1/8 per cent and Houses had no difficulty in obtaining funds to square their dally positions. The announcement by the MAS of the Issue of $500 million registered
      230 words
    • Article
      Money market
      107 8 MONDAY'S opening of the term rates at 4 3/8 1/4, 4 1/2 3/8 and 4 5/8 1/2 was an Increase of 1/4. 3/8 and 3/16 from the previous week. This was an adjustment to the announcement of the $500 million Bond Issue on Friday. Term rates prevailed at
      107 words
    • Article
      Short term money
      48 8 FOR the week ended Saturday, Oct 15 the range of call rates received from Short Deposits (M) Berhad was as follows: GENERAL FUNDS: 3* per cent to 4% per cent. Movements of funds totalled 1402 million. BANK FUND: 4 per cent to 5Vi per cent.
      48 words
    • Article
      Minimum lending rates (in %)
      58 8 Minimum lending rates (in ACBC 7' AlgamanaBank 7 Fir»t Chicago 7 Citibank 7 Bonk o* Amarica 7 Bonk of China 7V4 Bonk of Tokyo 7 Bonk Nagaro 1 n donatio 7V4 HKSBC 7V4 Indotuar 7 Motoyon Banking 7 Mitioi Bank 7 OCBC 7 OUB 7 Chortarad Bonk 7 C Manhattan
      58 words
    • Article
      London
      243 8 LONDON, Sat. Sterling rallied broadly In European currency centres, largely shrugging off news of a higher British retail prices index in September, after the Bank of England intervened forcefully in exchange markets, dealers reported. The pound closed at US9I-6495/6510, moving off a day's low of 91.6339 and compared with
      243 words
    • Article
      New York
      252 8 NEW YORK, Frl, The European joint float closed stretched with the three Scandinavian float currencies outside their intervention margins against the mark, dealers said. The Scandinavian currencies fell suddenly In a burst of nervous trading, triggered by renewed speculation that float parities may be adjusted over the weekend,
      252 words
    • Article
      Zurich
      399 8 In ZURICH over the week, sterling again lost conslderabe ground due to the September trade deficit of £365 million (after a deficit of £293 million In August). But by the end of the week, sterling was able to recover somewhat. The main reason for this was a sharp tightening
      399 words
    • Article
      Frankfurt
      32 8 FRANKFURT exchanges closing quotes on Oct 15. US 2.4430/40 Can 2.5100/20 UK 4.035/040 Neth 95.51/56 Swltz 99.53/58 Italy 2.895/905 France 48.89/93 Japan 0.8345/75 Belg com 6.530/535 Belg fin 6.31/32 Norw 45.82/86
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    • Article
      COMMODITIES SHOW FIRMER TREND IN AN ACTIVE MARKET
      638 8 FAIRLY active demand from overseas made for a generally firmer trend In the Singapore produce market last week, although movements of commodities like coffee, pepper, coconut oil and copra in and out of the Republic remained moderate during the period. With the
      638 words
    • Article
      Lock icon Call for action against EEC tax
      217 8 Reuter WASHINGTON, Sat. The American Soybean Association called on President Ford to take strong Preventative action to head off a proposed EEC tax on vegetable oils. The tax, which EEC farm commissioner, Mr. Pierre Lardlnols announced would be around 10 per cent would particularly
      Reuter  -  217 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      30 8 •V h- Kf w I I > a .via; A masterpiece crea. by superior craftsman Unique timepieces pr* by skilful technicians the most modern wfc factory in Switzerl k fe a
      30 words
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  • Article, Illustration
    NED KELLY GRADUATES
    973 9  -  'EVERYTHING, IS JUST PERFECT DAVID Graham is now a big name in the world of golf. But load fans will remember him as a regular campaigner of the Asian Circuit as a lean, irritable golfer striving strenously to attain status and stature. Those were the days when
    973 words
  • Article
    Hectic week — from racing to baseball
    709 9 Hectic week from racing to baseball JAPANESE SPORTS TOKYO, Sun. Japanese sports fans face a busy week ahead with the outcome of the 1976 World Drivers' Championship in the balance at Fuji Speedway and the start of the playoffs of the Japan baseball series. Boxing fans last weekend were delighted
    709 words
  • Article, Illustration
    Lock icon Phillies to go on premature retirement?
    738 9 BASEBALL NYT CINCINNATI. Sun. They had won 101 baseball games. They had become the first Philadelphia Phillies team in 26 years to call themselves champions. But now that It was over, now that the Cincinnati Reds hpd beaten them In the National League playoffs,
    NYT  -  738 words
  • Article
    'Anchor-man' Talib loses his grip
    629 9 GOLF TALIB Haron of Keppel faces an uphill task of keeping his berth in the Putra Cup team. Judging from his poor performances In the current trials. Yesterday he retarned an 81 at'Buklt Course. It was his worst effort in the'trials. Talib, who has been
    629 words
  • Article
    Lock icon Giles outwits United
    349 9 SOCCER The Observer LONDON; Sun. This was old-stagers' day. At Southampton, Terry Paine revisted the Dell for his 806th and final League Match, while at the Hawthorns, Albion's playermanager Johnny Giles proved too clever for the club who once discarded him, Manchester United. For most of his
    The Observer  -  349 words
  • Article
    Lock icon Cill Dara — by 3 lengths
    89 9 Cill Dara by 3 lengths Reuter NEWBRIDGE, (Ireland) Cill Dara, owned by Mrs. M. Flanagan and ridden by Christy Roche won the Irish Cesarewitch Handicap run over 3.21 km at the Curragh near here today. Mr. J. Dowling's Taravic was second and Mr. J-. Fahey's Ballvmountain Girl finished third of
    Reuter  -  89 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      121 9 TARODTA In time to come you'll agree with what we say here •a? i f INSIDE Inside each Tanita is a unique high-performance transformer that guarantees you many years of trouble-free operation not surprising as Tanita was the first to introduce the battery lighter in Japan OUTSIDE When we say
      121 words
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      Page 9 Advertisements Column 2
      122 9 KS, IX.. 4 The golf clubs designed precisely to ensure definition in your gome more consistently. With LYNX the club that gives you a larger 'sweet-spot' you can attack the ball fearlessly and yet have the great feeling of a well-struck shot. Scientifically built with 'heel-n-toe' balance for extra control
      122 words
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  • Article
    'Make valuation of assets of property firms a must'
    401 10 SINGAPORE should legislate mandatory and regular valuations of property assets in the portfolios of public property companies which offer shares to the public to Invest in properties. Because properties form the companies' main assets, it would be in the interest of
    401 words
  • Article
    There's much more to quality control
    267 10 QUALITY control, courses are easily available in Singapore. But while there has so far been an emphasis on the acquisition of such skills a proper understanding of the concept should not be underspressed. Mr. Yeow Chee Tiong, divisional director of Singapore Institute of Standards
    267 words
  • Article, Illustration
    Kim held in power tussle?
    160 10 PARIS, Sun. Rumour* that North Kortu communist leader Kim 11-sung (above) has been arrested by one of his sons in a family power struggle, two French newspapers reported here yesterday. They did not say when or where the arrest occurred or whether he was still
    160 words
  • Article
    Lock icon SMITH FIRM ON BLACK RULE TERMS
    181 10 Reuter LONDON, Sun. Rhodesian Prime Minister lan Smith said in today's Sunday Express that the terms agreed to for a handover to black majority rule were not negotiable. "There can be no question of white Rhodesians giving up control of the security forces during
    Reuter  -  181 words
  • Article
    Lock icon Mr. Lee starts 13-day Aussie visit
    258 10 Reuter SYDNEY, Sun. About 60 student demonstrators gave a noisy welcome to Singapore Prime Minister Mr Lee Kuan Yew when he arrived here today at the start of a 13-day official visit to Australia. Police formed a tight cordon around Mr Lee as he
    Reuter  -  258 words
  • Article
    Japanese move into Asian bond mart
    469 10 A SHOT IN THE ARM FOR REGION JAPANESE borrowers have recently begun to tap the Asian bond market for funds, and bankers are beginning to look to them to sustain the level of activity in the regional market. They first appeared unobstrusively with Y.S.
    469 words
  • Article
    Lock icon A $1.28b surplus
    331 10 Reuter TOKYO, Sun. Japan had a visible trade surplus of US$526 million (551,288.7 million) In September, compared with a deficit of $75 million in August and a deficit of 192 million in September last year, according to preliminary customs clearance figures from the Finance Ministry. The Ministry
    Reuter  -  331 words
  • Article
    Lock icon US firms urged to invest in Rhodesia
    332 10 AP NEW YORK, Sun. The US Government is urging major American corporations to Invest In Rhodesia after the black majority takes power, to ensure that the African country maintains close ties with the West, according to American business and Government sources." The sources
    AP  -  332 words
  • Article
    ARAB SUMMIT OPENS
    142 10 RIYADH, Sun. A mlnU Arab summit opened here today to determine whether peace can be restored to war-ravaged Lebanon. It Is now unlikely that the Palestinian commando chief Yasser Arafat will attend the six-nation summit. The Voice of Palestine Radio reported yesterday that he was trapped by
    142 words
  • Article
    DAILY AIRCRAFT MOVEMENTS
    509 10 ARRIVALS Service Local Operator Number Time From JAL JL712 1000 HLP SIA SQ209 1010 HLP CPA CX710 1030 HLP OIA GA980 1030 HLP THAI TG423 1035 BKK GIA GA908 1100 MES PAL PR501 1115 MNL SAS SK097 1140 CPH/NDH/ BKK SIA SQ201 1200 HLP SIA SQ240 1205
    509 words
  • Article
    Telecoms moves ahead of GDP
    194 10 EXPANSION in telecommunication services In Singapore easily outperformed the Oross Domestic Product last year and will likely continue to do so in the years ahead. This is the forecast of the Telecommunications Authority of Singapore. In the Telecoms annual report, Mr. Frank Y.C. Yung, the
    194 words
  • Article
    Lock icon Import curbs and survival
    155 10 Reuter LIVERPOOL, Sun. UK Trade Secretary Edmund Dell Mid the Government it maintaining Us present •policies aimed at export led growth, though it is ready to make greater use of temporary selective controls when the survival of particular industries is threatened by excessive imports. Mr. Dell
    Reuter  -  155 words
  • Article
    Lock icon RETAIL PRICE INDEX UP
    137 10 Reuter LONDON, Sun. The UK retail price index rose 1.3 per cent to 160.6 in September (base January 1974) after .a 1.4 per cent rise in August, the Employment Department said. The year-on-year inflation rate rose to 14. 3 per cent from 13.8 per cent in
    Reuter  -  137 words
  • Article
    Lock icon Promoting crude
    59 10 UPI TOKYO Sun. The Ministry of International Trade and Industry (MITI) announced it will promote development of crude oil on the continental shelf around Japanese islands. The ministry said the government-financed Petroleum Development Corp would nearly double funds reserved for investment and loans from 11 billion yen (5589.84
    UPI  -  59 words
  • Article
    Lock icon 'Guard against another oil embargo'
    394 10 UPI WASHINGTON, Sun In a warning on the third anniversary of the Arab oil embargo, a senior petroleum Industry official said yesterday Americans act "as though an embargo would never happen again' when in reality- they are more vulnerable than ever. Consumption of Imported oil
    UPI  -  394 words
  • Article
    Lock icon PLA vows to protect Hua
    334 10 Reuter HONGKONG. Sun. The Peking garrison of the Chinese People's Liberation Army (PLA) has vowed to protect the Party Central Committee headed by Premier .Hua Kuo-feng, Radio Peking reported today. The radio, monitored here, said cadres and soldiers of the Peking garrison had "strengtened their
    Reuter  -  334 words
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      Page 10 Advertisements Column 1
      54 10 8H Lunch-or dine in a grill roonv that savours of Olde England with food just as savoury. An ideal place to combine business with pleasure cosy and private. English-manner service too. Ask for the Executive Lunch or any speciality from our new ala carte menu. > < Lunch: noon-2.30 p.m.(except
      54 words
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      3 10 SEE PAGE 3
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      139 10 COPYING BREAK-THROUGH on ordinary paper m DT-1200 reliabity ahead of its time We have all been waiting for it Now it's here. The outstanding DT-1200 introduces a technological break-through into office copying machine reliability. This stylish compact unit uses the advanced Toner Transfer technique which will produce a dry quality
      139 words