The Business Times, 25 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 25, 1976 50 CENTS
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  • NEWS SUMMARY
    • Article
      Lock icon Thailand and the UN
      64 1 Reuter BANGKOK, Sun. Foreign Minister Upadit Pachariyangkun said today that recent political developments here would not affect Thailand's participation in the activities of the United Nations and other international organisations. Speaking at a ceremony to observe UN Day, Mr. Upadit said his country would continue to
      Reuter  -  64 words
    • Article
      Lock icon Tycoon charged
      109 1 UPI ATHENS, Sun. Shipping and banking tycoon Stratis Andreadls, father-in-law of Christina Onassis, will face trial on charges of fraud and violation of Greek banking laws, a legal spokesman said yesterday. The Indictment called for Andreadls to be tired on six counts of fraud against companies he directed,
      UPI  -  109 words
    • Article
      Lock icon Search for culprits
      73 1 Reuter ROME, Sun. Three Rome magistrates today opened a criminal investigation to discover who started rumours yesterday that the governor of the Bank of Italy had resigned, and that the government was about to freeze bank accounts. A long queue of civil servants and members of parliament
      Reuter  -  73 words
    • Article
      Lock icon 'Carter leads in NY state'
      102 1 AP NEW YORK, Sun. Two New York newspaper polls released yesterday give Mr. Jimmy Carter a solid lead over President Ford in that key state. The New York News, In its poll, gives Mr. Carter a 53-44 per cent lead over Mr. Ford in the
      AP  -  102 words
    • Article
      Lock icon Mugabe rejects plans
      74 1 UPI GENEVA, Sun. Mr. Robert Mugabe, the first of the Rhodesian black Nationalist leaders to arrive for this week's peace conference, today rejected American plans for Rhodesia and called for majority rule "within the next few months." Mr. Mugabe, the head of the Zimbabwe African National Union,
      UPI  -  74 words
    • Article
      Lock icon Back to GMT
      32 1 Reuter LONDON, Sun. British Summer Time (BST) ended at 0300 BST today when the clocks went back an hour, to put the nation on Greenwich Mean Time (GMT). Reuter.
      Reuter  -  32 words
    • Article
      Asian tax meet
      70 1 THE six-day annual meeting of the study group on Asian Tax Administration and Research will start here tomorrow. Delegates from Australia, Indonesia. Japan, Malaysia, New Zealand, the Philippines, Thailand and Singapore will attend the conference. Annual meetings of the group, set up to review and exchange information
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    • Article
      New political party
      51 1 KUALA LUMPUR, Sun. About 150 Indian Muslims met here this morning to form a new political party Kongres Indian Muslim Malaysia (Kimma). The inaugural meeting elected insurance executive Mr. Badrul Zaman, 29, the pro-tem president and businessman Mr. Slkkander Batacha, his deputy. Twelve committee members were also
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  • Article
    TOP TEN STOCKS
    112 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 Thursday and high and low for 1976. Company Turnover OOC Pricca Oct. 21 High 1976 Low Haw
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  • LOCAL STOCK INDICES
    • Article
      Singapore
      67 1 Oct. 18 Oct. 19 Oct. 20 Oct. 21 Oct. 22 +B.T. Index: 249.23 252.42 249.47 248.52 Cloaed 'Industrials: 251.59 252.01 250.91 250.62 Closed Finance: 453.04 455.01 454.29 453.67 Closed "Hotels: 151.15 150.72 150.59 150.69 Closed 'Properties: 142.48 142.50 142.36 142.36 Closed ♦Tins: 95.38 95.38 95.36 95.36 Closed rubbers: 320.15
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    • Article
      Malaysia
      71 1 Oct. 18 Oct. 19 Oct. 39 Oct. 21 Oct. 22 'Industrials: 273.53 273.19 272.15 270.88 Closed Finance: 383.72 387.21 384.81 385.11 Closed ••Hotels: 170.63 170.63 160.88 169.88 Closed •Properties: 148.08 143.76 142.66 143.14 Closed +Tlns: 93.38 93.36 93.41 93.32 Closed rubbers: 293.84 293.79 293.55 293.36 Closed ♦Jan. 1. 1975
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  • Article
    'Mystery' figure in extradite case
    1059 1 FIVE SLATER EXECS ONLY RAISE EYEBROWS FOLLOWERS of the Haw Par saga must have raised an eyebrow or two when It was revealed that the Singapore Government had sought the return of five British businessmen to Singapore to face charges alleging offences committed under the
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  • Article
    Lock icon LEE POPS IN AT NAREEN
    156 1 Reuter MELBOURNE, Sun. Prime Minister Mr. Lee Kuan Yew played golf In Western Victoria and relaxed at "Nareen," the country house of Prime Minister Mr. Malcolm Fraser, as he continued his 13-day offlcal visit to Australia. Strict security measures were in force around Mr. Fraser's
    Reuter  -  156 words
  • Article, Illustration
    Lock icon A million loyal fists salute Hua at big rally
    641 1 UPI HONGKONG, Stfn. Chinese Premier Hua Kuofeng, looking relaxed and supremely confident, made his public debut today as the new chairman of the Chinese Communist Party before a mass rally of more than one million people who raised their fists in
    UPI  -  641 words
  • Article
    NMB (S) to raise US$12m
    164 1 NMB Singapore, subsidiary of Nippon Miniature Bearing, is to raise US$l2 million via a seven-year public note Issue. Proceeds will be used to finance the company's production capacity In Singapore. Coupon and issue price will be fixed on Nov. 4, say Morgan Orenfell (Asia) and
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  • Article
    Lock icon KUWAIT STEPS UP OIL OUTPUT
    270 1 Reuter KUWAIT, Sun Kuwait is producing more oil to meet increased world demand in anticipation of an expected price rise, a leading Kuwaiti official said today. Assistant Oil Ministry Under-Secretary Mohammed Al-Nusseir said Kuwaiti production now topped two million barrels a day. Dr. Nuaseir was
    Reuter  -  270 words
  • Article
    Lock icon Copper deal
    40 1 AP JAKARTA, Sun. Minister of Mining Mr. Mohammad SadU said yesterday that Indonesia plans to sign a contract for copper mining in South Sulawesi next month with an American British Joint company. P. T. Riotinto Bethlehem Indonesia. AP
    AP  -  40 words
  • Article
    Haw Par sells property in Hongkong
    344 1 HAW Par Brothers International has sold one of its wholly-owned property subsidiaries in Hongkong. King's Road Development a move which is likely to hasten the healing process it initiated in November 1975. The sale of KED's entire share capital for HK518.37 million In cash
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  • Article, Illustration
    Joint venture tape plant in Woodlands
    575 1 INTERMAGNETICS Corporation of California, specialising in the production of precision-engineered tape manufacturing equipment and high quality magnetic tape, has set up a manufacturing plant in Singapore at a total investment of $6.1 million. The plant here, set up two months back. Is the latest
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      55 1 ©Wyfbong MAF A lending hand when Wayfoong Mortgage you need and Finance f (Singapore) Limited K lIIOM Shaw House. Ground Floor. 354 Orchard Road. Singapore 9. Td: *****7. (SEE BACK PAGE) (SEE BACK PAGE) Leisure/Crossword Leisure/One Woman'* Week P2 Local/International Co News M Overseas Markets P" M Commodities P8 P4
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      Page 1 Advertisements Column 2
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      Page 1 Advertisements Column 3
      157 1 f v Albert Photo .TgfFor the best in SSSfss 1 1 photographic ,niBhoors equipment S p^.ipo-e^ Te *****-1 *****1 &23WPV Only 2.5 mm thick. And automatic. GOLOEN SHADOW IS ct w»*t« goM 3««OOS/O4u With a 48-hour power reserve. Over 150 precision parts, that make up the movement, ingeniously fitted into
      157 words
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  • Article
    European politics
    781 2 RECENT election gain* by conservative parties In Sweden and West Germany and the low standing In the public opinion polls of Britain's ruling Labour Party have led some commentators to speculate about the possibility of a rightist wind blowing across the political arenas of Europe. But the European
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  • REVIEWS
    • Article
      CKT on what goes on underneath a melodious tune
      1030 2 g MUSIC THE trouble, really, with a reactionary tune like Old Mac Donald Had A Farm is not In the bow-wow here and oink-oink there. The trouble is, after each time you hear it, you cannot for days get it out
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    • Article
      Lock icon The lead soldiers conquer the world
      411 2  -  By A. THORNCROFT Financial Times NOT many people have valuable antiques lying unappreciated In their attics but there are plenty of forgotten toys gathering dust, and these days toys make frequent appearances In the auction rooms. In particular toy soldiers and dolls are much
      Financial Times  -  411 words
    • Article
      Lock icon A dazzling testament to the civilising effects of different arts...
      663 2  -  t films 1 The Marquise of O now on in New York, previewed by Vincent Canby. Vincent Canby NYT THE Marquise of O (Die Marquise von O Eric Kohmer's German-language screen version of Heinrich Von Kleist's 19th-century short story, should
      NYT  -  663 words
    • Article, Illustration
      Lock icon Dean's inside story of THE scandal
      986 3  -  BOOKS By CHRISTOPHER LEHMANN-HAUPT NYT BLIND Ambition. The White House Years. By John Dean. 415 pages. Illustrated. Simon and Schuster U5511.95. NO. JOHN DEAN is not the most appealing person in the world, and yes, the subject of Watergate is getting a little tedious.
      NYT  -  986 words
    • Article, Illustration
      One woman's week
      993 3  -  By TSAI TAN Miss Tan is a journalist. These seven days are not necessarily from the same week. MONDAY: The paper is nearly 10 days old. Incredible. It took us 11 months to get off the ground, but It seems in retrospect as if all the work
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    • Article
      Lock icon OF PLOT, STYLE, CHARACTER
      829 3  -  By RICHARD LOCKE NYT Catch A Falling Spy. By Len Detghton. 268 page*. Harcourt Brace Jovanovich. U557.95. The Sun Chemist. By Leionel Davidson. 275 pages. Alfred A. Knopf. U557.96. The Glory Boy*. By Gerald Seymour. 314 pages. Random House. U557.95. THERE'S so much talk about broken
      NYT  -  829 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      101 2 bJ% ace to lunch. You expect the best. You want your clients 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 naturally
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      Page 2 Advertisements Column 2
      154 2 mm -V Y 3 A B jij-i To:•OUTM MUTMOMQ aurrotm Please send me more details on the current range of AR speakers. Address-. UNPRECEDENTED ACCURACY Acoustic Research believes that a loudspeaker should not sound "good" or "bad" but rather have as little sound of It's own as possible. One should
      154 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      758 2 JUMBO TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS Equally confident. You find out (9) Went to work on the music as planned (8) That dashed mend isn't invisible at all! (4) Amuse young Diana Green (6) Tell people you managed to get back the tax (7) The fish and hens I'd cut
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      268 3 DOCUMENT PROCESSING DIVISION r... j 'A r I t J, tJ, l: i ,y -r- r > qic'JH iff N 1 VJ Wywy meets your copying needs Wywy Private Limited sole distributor for Ricoh copying systems. Now every owner of a Ricoh copier stays secure with Wywy's supporting staff of
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  • Page 3 Miscellaneous
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  • Article, Illustration
    Lock icon Pitfalls of diamond hedge
    1605 4 WHILE INVESTMENT IN GEMS CAN BE PROFITABLE, MICHAEL THOMPSONNOEL URGES THE CAUTIOUS APPROACH Financial Times ARE DIAMONDS really a girl's best friend? The 69 carat Cartier diamond that Richard Burton bought for Elizabeth Taylor in 1969 it cost US$l.O5 million, a price that at the time
    Financial Times  -  1,605 words
  • Article
    Lock icon Indonesia spells out new rules for mining contracts
    872 4  -  By HAMISH MacDONALD Financial Times THE INDONESIAN Government has Issued regulations which may revive negotiations with potential Investors in mining after a three-year deadlock. They are contained in a Presidential decree which the Government hopes will form the basis of a new
    Financial Times  -  872 words
  • Article
    Lock icon Red troops for Rhodesia?
    1170 4  -  With China increasingly caught up in its own problems, Russia has been elbowing its way into the gap in African politics. And as white power crumbles in Rhodesia the prospect of possible Chinese intervention has given way to talk of a Cuban-Soviet force to back up
    Financial Times  -  1,170 words
  • Page 4 Advertisements
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      66 4 MITSUI TRUST Beacon of Progress hafr N *-"k* ■I A r-< v hi*" i 'V Off* r 4T THE MITSUI TRUST BANKING CO.,LTD. SSSwtllSpmwttSM OH.ce Tower 1201.08SBId»..6 Shenton Wty.Singapore 1 Telephone *****53/*****54 Telex: *****, CeMe Addrea: MITUITRUST SI Nmv Vorfc Afencv Telex: 222*01 Coble Addrea: TRUSTMIT NEWYORK London Repmentttive OHice:
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  • Article, Illustration
    Lock icon Man at the top who acts by instinct
    1375 5  -  THE SUCCESS STORY OF CBS CHIEF By DONALD WEST NYT "THERE axe a lot of rules you come to believe In as you go through life In broadcasting. The bellevabillty factor Is a very, very Important factor. And it's a very fine
    NYT  -  1,375 words
  • Article, Illustration
    Safeguarding the public's interest in the Singapore property mart
    983 5  -  By COLIN CHEE THE Residential Property Bill (RPB) that was first announced in Parliament on Sept. 10, 1973 was designed to cut into what was thought to be the speculative element in Singapore's property market. From that day only Singapore citizens
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  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      120 5 S I B m e S e 5* *?v V.I K S: I w\?.W v at the Rang Mahal For discerning diners to whom a curry is more than a Sunday dish, the Rang Mahai offers Mo gul cuisine. Prepared as in the Imperial days of Shah Jahan, the Mogul
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      Page 5 Advertisements Column 2
      333 5 Jl_ PERFECT IMPRESSIONS U a Diy The Quartet that gives perfect copies DIA -as good as the originals Technologically the most advanced and unique copying system, U-BIX range of models produces perfect "double" of originals on ordinary plain paper. It's a boon to cut down heavy work volume. It's time
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  • Page 5 Miscellaneous
    • Miscellaneous
      Page 5 Miscellaneous Column 1
      206 5 Crossword solutions CRYPTIC SOLUTION ACROSS. 9, Ascertain. 10, Arranged 12. Darn. 13. Di-vert. 14, Narrate. 15. Gar-nished, 17. Count-leM. 18. Not-iced. 20. Greece (grease). 21. ICoN (rev.). 24 Res-a-tes. 26. Bedevils. 28. Rot-a. 29. Sni-p-er (rev.). 31, Car-ton-s. 34. Hard lines. 36. Scare-crow. 38. Runs off. 39. Int-act. 40. May-O.
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  • COMPANY NEWS
  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon The many attractions of General American
      780 6  -  By ROBERT METZ NYT NEW YORK, Sun. General American Oil, which has been wooed by many would-be marriage partners in the past, may be getting the rush again or so the Wall Street rumour mill would have Investors think. The rumours started again last
      NYT  -  780 words
    • Article
      Lock icon Montideson unable to meet claims
      118 6 Reuter MILAN, Sun. Montedison said in a communique It is unable to meet fully its wage payment obligations to employees of subsidiary Monteflbre, because of the latter firm's poor business situation and the current credit squeeze. The company was confirming earlier statements made to parliament
      Reuter  -  118 words
    • Article
      Lock icon Ford reaches agreement
      92 6 Reuter DEARBORN, Sun. Ford Motor said It reached agreement with the United Auto Workers on a local contract to settle the strike at Its Cleveland stamping plant which makes Ford body parts. It had not reopened after the national strike ended last week and as a result,
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    • Article
      Courtaulds
      44 6 LONDON, Sun. Courtaulds said it plans to close three factories with the loss of 2,500 lobs. The plants are a viscose textile yarn factory at Flint, Wales, employing nearly 1,500 people, and two hosiery units? at Dowlais, near Merthyr, and Carnmoney, Northern Ireland.
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    • Loans
      • Article
        Eurobond for port authorities
        110 6 PARIS, Sun. Credit Lyonnais said the port authorities of Bordeaux, Dunkirk, le Havre, Marslelle, Nantes Salnt-Na-zaire and Paris are jointly seeking US$4O million through a 15-year Eurobond issue. The "ports autonomes" government-guaranteed Issue Is expected to have a nine per cent coupon and pricing at a
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      • Article
        Vernes
        51 6 PARIS, Sun. Banque Vernes et Commercial de Paris said it will float a 100 million franc, 11 per cent, 10-year loan at 99 per cent on the domestic bond market tomorrow. Gross redemption yield is 11.21 per cent and amortisation wiTl be in 10 equal annual amounts, a spokesman
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      • Article
        Escom
        80 6 JOHANNESBURG, Sun. Union Acceptances and Central Merchant Bank said the 70 million rand Electricity Supply Commission issue was 37 per ascribed. A KI s totalled about 27.5 million rand for the 20 million rand portion available for subscription by the public, when the issue closed last Friday. Escom has
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      • Article
        Oslo
        25 6 ZURICH, Sun. Oslo's 80 million franc, 15 year, 5* 4 per cent loan will be priced at 99.5 per cent, primacy market sources said.
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      • Article
        OK
        29 6 BERNE, Sun. Oesterreichische Kontrollbak's 60 million franc, 5*4 per cent, 14-year loan was oversubscribed at an issue price of 99.5 per cent. Bank von Ernest and Cie said.
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    • Article
      Lock icon Norwegian oil development cost increases
      202 6 Reuter OSLO, Sun. Private companies operating with the state run Statoll said they have raised their cost estimate of developing Norway's Statejord North Sea oil field to 33.02 billion crowns against 30.96 billion estimated last June by the Mobil group. Statoll's latest development cost estimate
      Reuter  -  202 words
    • Article
      B and W
      50 6 LONDON, Sun. Babcock and Wilcox said its 120p per share cash bid for Herbert Morris has lapsed following reference to the Monopolies Commission. A spokesman for Babcock's financial advisors, Lazard Brothers said if the Commission clears the takeover the bid -will be renewed on the same terms.
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    • Article
      Lock icon Contract for Pittston
      109 6 Reuter NEW YORK, Sun. Pittston said it concluded the main elements of a longterm contractual agreement with six integrated Japanese steel mills for the supply of medium volatile, high fluidity metallurgical coal. Pittston said the agreement involves 10.3 million net tonnes during the Japanese 1977 fiscal year,
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  • Page 6 Advertisements
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      208 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
      BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 1. 1971 – 100)
      147 7 BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 1. 1971 100) 1978/76 Week's Action HIGH LOW INDUSTRIAL GROUP 1V10 2 POINT CHANGE 198 51 91.57 Automotive 188.90 187.09 +0 12 485 55 195 99 Banks, Insurance, Finance and Trustees 412.40 415.51 4-3.11 181.45 94.30 Chemicals, Rubber products. Refining and Smelting
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    • Article
      CHICAGO BOARD OPTIONS
      996 7 On October 22 PRICES on the Chicago Board Options Exchange declined on Friday as losers topped gainers, 385 to 91. CBOE volume approximated 92,117 contracts, up from 89,819 contracts on Thursday. OPTION JAN APL JLY STOCK Alcoa 45 81/4 NOL NOL 53 Alcoa 50 4 7/8 51/2
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    • Article
      New York
      911 7 NEW YORK: Further evidence of slack in the US economy sent the stock market broadly lower last Friday for the second consecutive session. The Commerce Department reported that new orders for durable goods declined 3.1 per cent in September. Analysts said the market was In a "mood for
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    • Article
      Amsterdam
      307 7 AMSTERDAM: Shares eased In line w.th Wall Street last Frtday. Unilever led Dutch Internationals two guilders lower. Insurances were steady to firmer against the general trend and Scneepvaart L'nie rose among otherwise lower shippings. State loans firmed strongly after opening mixed. Gemeen ten bank Issues also rose and there
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    • Article
      Frankfurt
      212 7 FRANKFURT: Nearly all sectors were lower last Friday, following Wall Street's weaker trend and some foreign selling, market sources said. Metallgesellsckaft and TkruM-IWMtiit fell by five marks, while Karatadt was six marks easier. However, strong demand for public loans pushed prices up to 0.4 marks higher and the rejgu-,
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    • Article
      Zurich
      255 7 ZURICH: The market closed generally weaker last Friday, Influenced by Wall Street. Leading banks edged lower, but Baakvercia was resistant. In flnanclals. Interest again centred on Juveaa In active dealings with both bearer shares and participation certificates weakening markedly to lose most recent sharp gains. In a fairly active
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    • Article
      Jo'burg
      391 7 JOHANNESBURG: Gold shares were mixed with a slightly rirmer bias on Friday. Traders were hesitant in taking positions before the weekend, dealers said. Financial minings were easier on balance. Elsewhere, De Been shed rive cents to 315. Coppers were very quiet, with Palamia Trading 10 cents down at 1,005.
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    • Article
      Milan
      142 7 MILAN: The market closed generally lower last Friday in quieter conditions, unable to hold past days gain. All leading Industrials lost ground and closed at the day's lows, as did Insurances, banks and flnanclals. Bonds were mixed. oct a Ure Anlc 411 -7 Assoc Oen ***** -1380 Bajtogl 909
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      Toronto
      276 7 TORONTO: All sectors registered declines and the Industrial Index dropped sharply in light trading on the Toronto Stock Mining Issues and major industrials led the downturn. Northern Telecom fell 1 3/8, Alcaa dropped one, Nortndt "A" and Comiaco lost 1/2. Deaalsoa Miaes, which reported lower nine-month earnings at the
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      Brussels
      147 7 BRUSSELS: The market was sharply down in hectic preweekend trading last Friday. All major stocks dropped except Tm—derto which firmed at the start but finished lower than its best of the day. Foreign stocks also declined. Including American issues depressed by the falls on Wall Street. Gold were narrowly
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    • Article
      Paris
      395 7 PARIS: The market was mostly lower for the start of the new account last Friday following Wall Street's weaker trend. Goods, stores electrlcals and metals fell but banks constructions and hotels steadied. Most other shares were slightly lower. Among companies which recently announced lower first half results. Schneider and
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      Tokyo
      491 7 TOKYO: The market closed lover on Saturday with a waiting sentiment prevailing, dealers said. The Market average lost 14.78 to 4,804.03 with volume of 100 million shares. The Tokyo SE Index closed at 347.70 down 0.50. Falling commodity prices drove textiles, chemicals and steels lower. Investors were also discouraged
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    • Article
      Indices
      92 7 FINANCIAL TIMES INDUSTRIALS Friday 289 7 Thursday 295.6 Week ago TIN Friday ***** Thursday 117.71 Week ago 119.09 RUBBERS Friday 499.82 Thursday 500.31 Week ago 473 90 OILS Friday 343.52 Thursday 348 04 Week ago 333 83 DOW JONES AVERAGE INDUSTRIALS Friday 938 75 Thursday 944.90 Week ago 937.00
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    • Article
      Lock icon Small gain for NYSE
      266 7 NYT THE stock market wound up last week with a small gain In slower trading. The Dow Jones industrial average advanced In the first three trading days and then declined In the remaining two. The average closed on Friday at 938.75, up 1.75 points for the
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    • Briefly
      • Article
        TRW sees higher earnings
        83 7 CLEVELAND, Sun. TRW Inc said it expects 1976 earnings to be in the range of US$4 per share, up from $3.08 in 1975. The company also repeated an earlier forecast that sales should be at least 10 per cent above last year's $2.60 billion. The company
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      • Article
        Pernod
        37 7 PARIS, Sun. Pernod Ricard has achieved a first half net consolidated profit of 79.36 million francs compared with 54.7 million previously. The parent company made a net profit of 61.74 million against 15.9 million last time.
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      • Article
        Mid-East
        41 7 MELBOURNE, Sun. Audited consolidated loss at Mid-East Minerals rose from Asloo,ooo to $105,000 for year ended June 30, 1976 on sales of $242,000 ($256,000). The loss Is after depreciation of $116,000 ($48,000) but before extraordinary loss of $39,000 (profits $56,000).
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      • Article
        WMC
        48 7 MELBOURNE, Sun. Western Mining Corp said it will make a 60 cents a share call on its A 527.04 million new contributing shares, payable on Dec 17. The call, which will make the shares fully paid 50 cent units, comprises 25 cents capital and 35 cents premium.
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      • Article
        Norseman
        50 7 ADELAIDE, Sun. Audited operating profit at Norseman Gold Mines amounted to A 54,000 for the year ended June 30, 1976 against a loss of $233,000 on revenue of $443,000 ($330,000). Profit is after depreciation of $28,000 ($30,000) but before extraordinary profit of $49,000 (nil) on sale of Norseman titanium.
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        Car plants
        88 7 TOKYO, Sun. New Jersey governor Mr. Byrne Burns, said he had made format presentations to attract Toyota Motor and Nissan Motor car assembly plants to his state and was heartened in that the companies "appeared willing to continue discussions with us." Mr. Byrne said he planned to have
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      • Article
        St. Gobain
        57 7 PARIS, Sun. Cle de Saint Gobain Pont A Mousson has reported a first-half 1976 parent company net profit of 120.8 million francs compared with 187.1 million previously. The company said net profit in second half should be appreciably higher than in the first half due to dividends received
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      • Article
        Home Stores
        75 7 LONDON, Sun. British Home Stores has Increased pre-tax profit to €7.64 million in the 24 weeks to Sept. 18 1976 from $6.57 million previously on sales of t'100.57 million (L' 84.83 million). It is paying an interim dividend of 2.5163p (1.7829p adjusted). The company said it considers the
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      • Article
        California Standard
        113 7 CHICAGO, Sun. Standard Oil of California expects total US crude oil demand to increase about 5.8 per cent next year with a 4.3 per cent gain in gasoline consumption, chairman, Mr. Harold J. Haynes, told security analysts here. Mr. Haynes said the company is holding to its earlier
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      • Article
        GEC
        65 7 LONDON, Sun. General Electric said it will receive work worth about 167 million as its share of a second nuclear power station being built in South Korea. A provisional contract to build the US$56O million station has been signed between GEC, Westinghouse Electric and Korea Electric, it said. Westinghouse
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      • Article
        Plantation Holdings
        48 7 LONDON, Sun. Trading at Plantation Holdings Trading for the six months to June 30, 1976 was L 1.30 million compared with t823,000 previously or an earnings per share of 1.6 d (0.9p). The company is pacing an interim dividend of 0.86p (0.78p) on Jan 14, 1977.
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      175 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 toreach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who will
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  • COMMODITY REPORTS AND PRICES
    • Article
      Rubber market
      187 8 LONDON Sat The terminal on Friday, closed very quiet 0.05p near Dec at 59.70p per kilo to 0.50p down from Thursday. Volume totalled 26 lots which Included three further call options. The call options comprised two Apl/Jne 1977 premium 10.20 to 10.25p basis 64. 50p and one Oct/Dec
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    • Article
      Straits tin
      183 8 THE Straits tin price in Penang on Saturday fell $4.62''i to close the week at $1.185.37'/i per picul on an official offering down 27 tonnes to 225 tonnes. In LONDON on Friday afternoon, tin showed no basic change on the day in either contract. The market erased earlier
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    • Article
      Palm oil
      122 8 THE following Palm Oil prices were quoted in London on Friday. The price* are elf Rotterdam and are quoted In US dollars per lone ton unless otherwise stated. Friday Prev. Malaysian 5% ffa bulk Dec unch 438 sir Jan unch 435 sir Sumatra 5% Oct unch 470* Nov
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      Product prices
      275 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY. Coconut Oil: Bulk $70 sellers, old drum $75 sellers, new drum $80 Copra: Mixed (loose) UK/Cont. $45 buyers. Pepper: Muntok ASTA white f o b. 100% NLW $325 sellers. Sarawak white 1 ob 96% NLW sellers. Sarawak
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    • Article
      Lock icon Gold
      533 8 Source: Swiss Bank Corp. Zurich AFTER the Deepavall holiday the Singapore gold market remained quiet with the kilo bar thinly traded between 559,200 and $9,240. For London delivery, the price was a nominal U*****.50 to $116.00 following the Friday afternoon fixing In London at US $115.50, down 65 cents
      Source: Swiss Bank Corp. Zurich  -  533 words
    • Article
      Copper
      302 8 LONDON, Sat. Copper wlrebars on the day lost £17 for cash and £18.50 for Three Months on Friday. The market continued to lose ground under further r stale bull liquidation prompted by a lower than expected opening at New York, dealers said. Three Months traded down to £793 per
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    • Article
      Sugar
      228 8 LONDON, Sat. Futures held steady during the afternoon on Friday on shortcovering and booksquaring in front of the weekend. At the close values were £1.15 to £0.25 higher. Sales were 1,821 lots. Dealers said the trend was aided by a steady New York market, Saturday's buying tender in Iran
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    • Article
      Lead
      31 8 LONDON. Sat. Lead closed with all round losses of £5.50 per tonne on Friday afternoon. This metal held steady on the morning's lower levels in modest trading of 800 tonnes.
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      Zinc
      28 8 LONDON, Sat. Zinc lost £5.'75 for cash and £7 for three Months. A steady tone was also maintained in this metal in routine dealings of 1.000 tonnes.
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    • Article
      Coffee
      180 8 LONDON Sat. Robusta futures closed slightly steadier with prices £12 lower to £10 up, (Near Nov at £1,965) to £10 higher per tonne from last night. Volume totalled 1824 lots which included 71 call options. Dealers said the terminal came off highest levels following stop loss selling and long
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    • Article
      Rice
      30 8 HONGKONG Sat. The market was quiet with prices unchanged. The day's turnover totalled 29 tons comprising Thais 14, Kwangtungs 22 and AustraUas 13. Arrival was from Kwangtung 420 tons.
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    • Article
      Lock icon US, Jakarta rice pact
      98 8 Reuter WASHINGTON, Sun. The Agriculture Department announced an amendment to an existent Pi 480 agreement with Indonesia, which Increases the dollar value of the agreement by US$9 million to $96.6 million which that country can use to buy US rice. The USD A said the higher
      Reuter  -  98 words
    • Article
      Lock icon Local rubber stocks up
      57 8 Reuter STOCKS of rubber In Singapore at the end of August rose to 47,380 tonnes from 46,468 tonnes at end July, but fell from 49,293 tonnes In August last year, Statistics Department figures show. The August stocks comprised (July in brackets) dealer stocks of 47,378 tonnes
      Reuter  -  57 words
    • Article
      Lock icon Tokyo sugar imports up
      63 8 Reuter TOKYO, Sun. Japan's raw sugar imports rose sharply in September to a record monthly figure of 418,960 tonnes from 239,340 In August, the Finance Ministry said. It said the rise was due to increased shipments in advance of the imposition of as import levy on
      Reuter  -  63 words
    • Article
      Silver
      164 8 LONDON, Sat. Silver on the day was 2.2 to 3.0 pence per troy ounce lower on Friday afternoon. Values drifted in long liquidation induced by the decline in US futures with Three Months trading down to 264.0p at the end of ring trading. But the lower levels found covering
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  • MONEY AND EXCHANGES
    • Article
      Singapore
      175 8 FOLLOWING news of the revaluation of the West Oerman mark In the European joint float, the Singapore foreign exchange market opened very hesitant this week with the US unit being quoted at $2,4550/70. But some strong bidding saw the US unit being bid up to as high as 52.4580/90
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    • Article
      Asian $ rates
      274 8 Asian rates THE week opened with short dates continuing its easier trend. The day to day was traded around 5 percent in the early part but eased to the 4 7/8 level by Thursday. The term money held steady thoughout the week with very minor fluctuation. ASIAN currency average deposits
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    • Article
      Euro $ rates
      134 8 Euro rates LONDON Sat. Eurodollar deposit movements on Friday were minimal, continuing the recent quiet trend, defers said. Customary quiet preweekend trading further dampened business, but some dealers noted a slightly harder undertone in places after the recent downtrend. They said this apparent bottoming out in rates stemmed from increases
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    • Article
      Discount market
      323 8 CONTRARY to the anticipated tightening of the money market following the recent SSSOO million Government Bond Issue, the market reacted otherwise. Market operators attributed this to the inflow of funds from overseas. Houses experienced, huge surpluses throughout the week with overnight rates traded between 2 3/8 3 1/8
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    • Article
      Money market
      43 8 THE week saw the rates easing by in the 1, 2 months and in the 3 months, to close at 4 3 7 A, 4 4 and 4 respectively. The overnight rates eased by 1 Vi to close at 2 Vt.
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    • Article
      Short term money
      52 8 FOR the week ended Saturday. Oct 23 the range of call rates received from Short Deposits (M) Berhad was as follows: GENERAL FUNDS: 3 3/4 per cent to 5 1/8 per cent. Movements of funds totalled $357 million. BANK FUND: 3 7/8 per cent to 5 3/8
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      London
      232 8 LONDON, Sat. The mark erased early losses In major currency centres while the dollar generally moved higher elsewhere in Europe on Frldav. Speculation that Germany will shortly report a substantially higher trade surplus for September, possibly over three billion marks, took the mark to a closing 2.4215/25 against the
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    • Article
      New York
      142 8 NEW YORK, Sat. The lira was Indicated sharply higher In late trading here on Friday, following the announcement that the Italian Government Imposed a seven per cent surcharge on all foreign currency purchases. Tentative Indications In late trading put the lira higher at 0.1180 cents compared with 0.*****
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    • Article
      Zurich
      414 8 IN ZURICH, after the realignment of the snake parties, the tensions within the currency snake clearly abated and the situation of the foreign exchange markets generally calmed during the week. Having been revalued, the D-mark showed fluctuations in both directions, but the underlying tone was unmistakably firm. One factor
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    • Article
      Frankfurt
      32 8 FRANKFURT exchanges closing quotes on Oct 22 US 2.4225/35 Can 2.4915/25 UK 4.000/005 Neth 95.08/14 Switz 99.00/08 Italy 2.790/795 France 48.62/69 Japan 0.8255/70 Belg com 6.51/52 Belg fin 6.39/41 Norw 45.40/44
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      Minimum lending rates (in %)
      63 8 Minimum lending rates (in ACBC 7 Alg«m«n« Bon* 7 Fw*» Chicago 7 Citibank 7 Bangkok Bonk 7V4 Bonk of Amorico 7 Bank of China 7V4 Bonk of Tokyo 7 Bank Ncgara 1 n donatio 7V4 HKSBC 7V4 lndo»u«r 7 Malayan Banking 7 Mittoi Bonk 7 OCBC 7 OUB 7 Chartered
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    • Article
      HEAVY BUYING IN COMMODITY MARKET
      844 8 SINGAPORE'S produce dealers were once again hard put to meeting the Influx of buying orders from the leading markets In Europe, America and London last week. The two commodities in biggest demand were coffee and pepper. For want of fresh supplies from Singapore's traditional nearby
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      140 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business limes BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) Surface mail Zone Singapore Malaysia, Brunei Overseas Second class airmail (Individually w rapped and mailed) Zone Brunei, Sarawak. Sabah Australasia/Pacific (excluding
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  • Article, Illustration
    Lock icon ANATOMY OF A CRISIS
    668 9 WHY MACKAY HAS RUN INTO TROUBLE Daily Express LONDON, Sun. DERBY, who have spelt entertainment and success across Britain and Europe for eight years, are deep In crisis. Only two factors can rescue the club: the willingness of most players, If they have sufficient pride in
    Daily Express  -  668 words
  • Article, Illustration
    Lock icon The swinging millionairess
    540 9 GOLF Daily Express NEW YORK, Sun. The Johnny Miller of women's golf would answer to the following improbablesounding set of statistics: Age: 31; height: 1.60 metres; weight: 66 kgs; years a professional: 14; tournaments won: 20; career earnings: nearly $1,125,000. She is married and has a seven-year-old
    Daily Express; Source: AP  -  540 words
  • Article
    Lock icon The White Club is still exclusive ...
    851 9  - The White Club is still exclusive DENIS HERBSTEIN, in Johannesburg, sees South Africa's new sports policy in action DENIS HERBSTEIN The Guardian IF Dr Kissinger's Southern African shuttle had taken place last week, instead of last month, his visit to Pretoria would have been relegated to the inside pages of
    The Guardian  -  851 words
  • Article
    Mersey machine slows down
    549 9 SOCCER LONDON, 1 Mariner, th Plymouth 1 been In a fr> decision for mon -ek with his shooti In the end, as to have left It t- .»e day's matches to firm his mind: He Is now strongly expected to join Ipswich for £200,000 ($810,000) In
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  • Article
    Talib charges in
    676 9 MONDAY SPORTS GOLF ANCHOR-MAN Talib Haron of Keppel clinched the fourth place In the Singapore Putra Cup team with a sparkling a three-over-par 74 In the final round at the Buklt Course yesterday. Talib completed the seven-round trial with an aggregate total of 549 four strokes ahead
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  • Article
    Raiders strike
    166 9 The Raiders upset a tough Cardinals side 20-0 in their American Football Youth League match at Ulu Pandan over the weekend. The Raiders, with Derrick Brannan at quarterback, showed a wellbalanced offence to break through the Cardinals backline continously. Darrel Holt, Gary Price and Mike Nutter scored the
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  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      117 9 TAWA In time to come you'll agree with what we say here INSIDE Inside each Tanita is a unique high-performance transformer that guarantees you many years of troubie-free operation. This is not surprising as Tanita was the first to introduce the battery lighter in Japan OUTSIDE When we say our
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      Page 9 Advertisements Column 2
      137 9 HONMA* is setting the pace for a new ball game. Proven the longest hitting clubs by top professionals HONMA* cuts down the yardage from tee to green. Precision built to give you that solid feeling and perfect control of your golf shots HONMA* ensures better scoring in your game more
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  • Article
    What happens when a company does not tell all
    708 10 SUNGEI Way Dredging's reply to a Kuala Lumpur Stock Exchange query on a series of acquisitions of 'United Biscuits Manufacturing shares (highlighted in the Oct 19 issue of the Business Times) is a good -illustration of the kind of 'situations that
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  • Article
    Lock icon Bleak outlook for Russians
    372 10 Reuter WASHINGTON, Sun. The Soviet economy is slowing down and Russians face the prospect of continuing shortages and shoddy goods for years to come, according to a US Congressional study released yesterday. The study, sponsored by the Congressional Economic Committee and based in part on information
    Reuter  -  372 words
  • Article
    Lock icon Italian shock tax on forex buys
    365 10 Reuter ROME, Sun. Foreign exchange dealers reacted with ■hocked resignation yesterday to the Italian Government's imposition of a tax on foreign currency purchases aimed at protecting the lira while new austerity measures get a chance to bite. All foreign currency bought by Italians will
    Reuter  -  365 words
  • Article
    Lock icon GAS FIND OFF THAI GULF
    120 10 AP BANGKOK, Sun. Texas Pacific Thailand Incorporated, a subsidiary of Texas Pacific Oil Company, incorporated of Dallas, Texas, announced it has discovered large natural gas deposits In a new well off the gulf of Slam South of here, Radio Thailand announced yesterday. The well, located
    AP  -  120 words
  • Article
    Lock icon Krupp stake gives Iran fringe benefit?
    683 10 DATA ON ARMS, DEFENCE AND SECURITY Reuter BONN, Sun. Iran's acquisition of Just over a quarter of West Germany's giant Krupp empire could give the Shah important information on new weapons, defence and security, experts here believe. The Krupp concern, which armed Germany in
    Reuter  -  683 words
  • Article
    Freight hike will harm S'pore's economy: SNSC
    553 10 SINGAPOREANS should be more sympathetic to the plight of the Singapore National Shippers Council and not look on its constant complaints against the shipping conferences as "one long nag." The troubles of the SNSC are eventually passed on to the ordinary citizen. This
    553 words
  • Article
    'Cargo flow vital to our trade'
    408 10 WITH the rapid increase In world trade and the resultant demands for more and better means of transportation, the economics of cargo movement has an important bearing on Singapore's trade development. Unless cargo carriers can provide an efflcent and economical transport system, the operations,
    408 words
  • Article
    Lock icon THAI OFFICIALS GET THE SACK
    191 10 Reuter BANGKOK, Sun. The military advisers to the new Thai Government today announced a purge of top civil servants Including the sacking of the Under-secretary of State for Foreign Affairs, Mr. Anand Panyarachun, who helped negotiate the U.S. withdrawal from Thailand. Also relieved of their
    Reuter  -  191 words
  • Article
    Lock icon US won't attend Rhodesia talks in Geneva
    203 10 Reuter UPI WASHINGTON, Sun. There is little or no prospect that Secretary of State Dr. Henry Kissinger will show up at the conference beginning in Geneva next week to discuss plans for majority rule in Rhodesia. Rhodelsan Prime Minister Ian Smith said yesterday
    Reuter; UPI  -  203 words
  • Article
    HUSSEIN ON ROLE OF BANKS IN THIRD PLAN
    296 10 KUALA LUMPUR. Sun. Commercial banks in the country are expected to piny n bigger role in assisting the Government to achieve its policy objectives during tbe Third Malaysia Plan, the Prime Minister Datuk Hussein Onn said last night. He added that it
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  • Article
    Saudis keen on joint ventures
    103 10 KUALA LUMPUR, Sun. Vast opportunities exist for Malaysian businessmen to take part In joint ventures in Saudi Arabia, Komplelcs Kewangan Malaysia (Malaysian finance com&lex) chairman Ghafar aba said yesterday. The Saudi Arabian fiveyear plan was being implemented with emphasis in the field of development, construction
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  • Article
    DAILY AIRCRAFT MOVEMENTS
    510 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 T0423 1035 BKK OIA GA908 1100 MES PAL PR501 1115 MNL SAS SK097 1140 CPH/NDH/ BKK SIA SQ201 1200 HLP SIA SQ240 1205
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  • Article
    Lock icon Arabs to ban firms which break boycott
    291 10 Reuter CAIRO, Sun. The Arab office for the boycott of Israel said yesterday that American companies violating their boycott would be banned from trading in Arab countries and be refused oil or raw materials from the Arab world, the Middle East News Agency,
    Reuter  -  291 words
  • Article
    Lock icon Burma rice
    49 10 UPI RANGOON, Sun. Burma is in a position to export 570,000 tonnes of rice in the current fiscal year ending next March, Prime Minister U Sein Win said yesterday. Mr. U Sein Win made the disclosure in presenting the government's supplementary budget to the National Congress. UPI
    UPI  -  49 words
  • Page 10 Advertisements
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      266 10 Bow Valley Exploration GEOLOGIST Negotiable around US$lB,OOO p.a. plus benefits ReL 216 We are a large Canadian oil and gas exploration company operating worldwide. We are now expanding our Southeast Asian operation in Singapore and are seeking to augment our staff by the addition of a well qualified geologist. Our
      266 words
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      Page 10 Advertisements Column 2
      118 10 savours of JD Lunch or dine in a grill room 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 a'la carte menu. Lunch: noon-2.30
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