The Business Times, 27 October 1976

Total Pages: 12
1 12 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) 1455/76 WEDNESDAY. OCTOBER 27, 1976 50 CENTS
    10 words
  • NEWS SUMMARY
    • 30 1 UPI UNITED NATIONS, Tues. Secretary-General Kurt Waldheim made clear yesterday that the United Nations would not recognise the establishment of an independent Transkei by South Africa.
      UPI  -  30 words
    • 66 1 THE Presidential Council for Minority Rights considered 34 Bills and two Acts during the year ending July 31, 1976, and found none of them disadvantageous to any racial or religious community, Council chairman Mr. Justice Wee Chong Jin said in his annual report to President Sheares. The
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    • 65 1 AP GENEVA, Tues. Britain resolved today to support the demand of black nationalist leaders for the release of political prisoners held by Prime Minister lan Smith's Government In Rhodesia. A British spokesman said the demand, made yesterday by Mr. Joshua Nkomo and Mr. Robert Mugabe, will be
      AP  -  65 words
    • 72 1 Reuter TOKYO, Tues. Australian Industry and Commerce Minister Robert Cotton told Japanese officials that it was difficult for Australia to remove its import curbs on a number of goods, Japanese Trade Ministry officials said today. The Australian Minister was quoted as saying that present Australian import
      Reuter  -  72 words
    • 54 1 UPI LONDON, Tues. The best news on Britain's unemployment for years came today with the announcement by the Employment Department that the jobless total shrank by more than 78,000 last month the largest fall since May 1972. The October total of 1,377,110 represents 5.8 per cent of
      UPI  -  54 words
    • 68 1 KUALA LUMPUR, Tues. The National Bureau of Investigations (NBI) is still carrying out an investigation into the alleged corruption In connection with the purchase of the Northrop FSE fighter planes, Deputy Defence Minister Mokhtar Hashim told Parliament today. Encik Mokhtar also said that the Government had
      68 words
    • 59 1 Reuter KUALA LUMPUR, Tues. Malaysia is holding talks aimed at reaching extradition agreements and arrangements with Australia, Britain, India and the Philippines, Law Minister Tan Sri Abdul Kadir Yusof has said. Tan Sri Kadir was tabling a Bill In Parliament yesterday which will enable the Government to
      Reuter  -  59 words
    • 44 1 SPI NEW YORK, Tues. Dow Jones averages, based on the first hour of trading today on the New York Stock Exchange: 30 Indus 43.65, up 5.65; 20 transp 205.15, down 0.08; 15 utlls 96.43, up 0.19; 65 stocks 296.5, up 1.10. SPI.
      SPI  -  44 words
  • Chief Price Changes
    • 100 1 Foils Most active S. Tradings $5.10 -20 Central Sugars 348.000 Prima $2.25 -.15 Haw Par 191.000 C. Sugars $0 91 -.10 Inchcape 90.000 O.C.B.C S8 00 -10 Malayan Credit 90,000 W.Jacks $1.26 -.09 Un Asiatic $2.90 -.08 Petaling $4.00 -.06 F. Cables $0.75 -.05 Gentings $2.62 -.05
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    • 138 1 TRADING at the Stock Exchange of Singapore yesterday remained dull. Stale bull liquidation and stop-loss selling pushed share prices lower. The Straits Times Industrial index fell 3.23 points to 241.14 while the Business Times average dropped 1.49 points to 246.33. Foils Most octive Sel Properties 135 H
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  • 509 1 SINGAPORE has always been a net importer of Japanese goods but estimates for 1976 based on the first six month period indicate that the trade deficit with Tokyo has declined considerably. Between 1970 and 1975 Singapore saw the steady increase in net
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  • 96 1 MELBOURNE, Tues. Prime Minister Lee Kuan Yew today visited Melbourne's port facilities where the Singapore leader specifically asked to be shown the container area, which is regarded as the largest in the southern hemisphere, a port authority spokesman said. Earlier, the visiting Prime Minister attended a
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  • 360 1 Reuter HONGKONG, Tues. Discussions now taking place could lead to an expanded use of the Hongkong dollar as a vehicle for international bond issues with a HKSSOO million (Ss2so million) placement by the World Bank leading the way, bond market dealers said. There
    Reuter  -  360 words
  • 391 1 Reuter LONDON, Tues. Financier Jim Slater, former head of Slater Walker Securities, was remanded on £45,000 (*****.000) ball at Bow Street Court here today In connection with an extradition request brought by the Government of Singapore. The court also remanded Richard Tarling, former chairman of the
    Reuter  -  391 words
  • 452 1 Reuter UPI STERLING yesterday tbowed signs of steadying itself in the Singapore fore* market at the 553.89 level after the heavy fall it suffered the previous day when it broke through the psychological barrier of Ss4 to hit an alltime low of
    Reuter; UPI  -  452 words
  • 114 1 Reuter LONDON, Tues. Gold traded at about US$ll7.OO (*****.65) to $117.60 ah ounce In early trading, about one dollar above Its closing level here as sellers withdrew from a still slightly oversold market ahead of tomorrow's IMF gold auction, dealers said. Though some dealers suggest the
    Reuter  -  114 words
  • 73 1 UPI RANGOON, Tues. A three-man International Monetary Fund (IMF) mission arrived yesterday for talks with Burmese authorities on the progress of various projects Jointlyfunded by the IMF and Burmese Government. The mission comprises of IMF director Johannes Wltteveen, executive director Byanl Kharmawan and director Tun Thin.
    UPI  -  73 words
  • 384 1 Reuter HONGKONG, Tues. Jardine, Matheson chairman and senior managing director David Newblgglng said current discussions between Wheelock Marden and Hong Kong Land could lead to Jardlne Matheson obtaining some Wheelock assets. Wheelock and Hong Kong Land announced last week that they have agreed to enter
    Reuter  -  384 words
  • 475 1 QUICK on the heels of H.A.O 'Connor's directors recommendation that they accept Rank Organisation's $130 a share offer, most shareholders have given New Court Merchant Bankers their acceptances. Letters dispatched from O'Connors boardroom last Thursday reached shareholders after the Deepavall holiday. By the end of
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  • 34 1 Reuter BONN, Tues. The West German Government today voiced support for the British Government's economic policies and said It expected sterling to climb back to a level corresponding to Britain's economic importance.
    Reuter  -  34 words
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  • OVERSEAS
    • 612 2 SO BRITAIN is at It again. At the last If only It were literally the last run on sterling just before the World Bank-IMF conference, Mr. Denis Healey, Chancellor of the Exchequer, announced plans to borrow more, to the tune of US$3.9 billion, from the IMF to
      612 words
    • 285 2 UPI HONGKONG, Tue». China appears to have softened considerably her position on the presence of American troops in South Korea. This development was signalled by one of China's top military leaders in the first foreign policy remarks by any Chinese leader since the official
      UPI  -  285 words
    • 33 2 Reuter GLASGOW,Tues. A new coalfield has been discovered under the sea bed in the Firth of Forth and holding at least 50 million tonnes. Britain's National Coal Board announced yesterday Reuter
      Reuter  -  33 words
    • 1110 2 WASHINGTON, Tues. American voters will have a clear choice between two contrasting economic policies on Nov 2 President Ford's steady-as-she-goes approach, or Jimmy Carter's programme for a "new beginning." While even Mr. Ford has expressed disappointment with the recent performance of the nation's economy,
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    • 674 2 AP RIO DE JANEIRO. Tues. Japanese Investors are backing up their public confidence in the future of Brazil's economy with hard cash. Despite Brazil's current economic woes, one tenth of the total Japanese investment worldwide over the next ten years will go to
      AP  -  674 words
    • 174 2 Reuter CAIRO, Tues. The expected final session of the Arab summit conference was delayed today by eight hours, apparently because of disagreement over the make-up and financing of a proposed 30,000-man security force for Lebanon. Arab League officials saia the last session of the summit
      Reuter  -  174 words
    • 261 2 Reuter MOSCOW, Tues The Soviet Union may be heading for its blggest-ever grain harvest after an all-out effort by farmers to make up for last year's disastrous crop, according to Communist Party chief Leonid Brezhnev. Mr Brezhnev gave the news yesterday in a speech to
      Reuter  -  261 words
    • 297 2 Reuter WASHINGTON. Tues. A secret message sent by Secretary of State Henry Kissinger to Rhodeslan Prime Minister lan Smith last month has emerged as the source of a dispute that threatens to wreck the black-white Geneva talks on Rhodesia. In that message, according
      Reuter  -  297 words
    • 433 2 Reuter TOKYO, Tues. Canadian Prime Minister Pierre Trudeau today acknowledged the economic power of Japan but urged the Japanese to play a more influential political role in world affairs. "It is time we realised that Japan Is not only an economic power, but
      Reuter  -  433 words
    • 127 2 Reuter TOKYO, Tues. Canada and Japan today welcomed efforts by Asean to strengthen self-reliance and mutual co-operation for stability and development in the region. The two nations also hoped for the development of stable and cooperative relations among all the countries of Southeast Asia. This was announced in
      Reuter  -  127 words
    • 197 3 Reuter GENEVA, Tues. The executive Trade and Development Board (TDB) of the UN Conference on Trade and Development (Unctad) adopted a resolution calling for Increased aid to developing countries./ The resolution said Industrialised countries should raise government aid to poor countries In such a way
      Reuter  -  197 words
    • 509 3 AP I'MTATA (Transkei), Tues.- Shunned by the world, Transkei became Africa's 50th independent state at midnight (2200 GMT) on Monday, the lonely product of white-ruled South Africa's controversial race policies. Noisy tribal dances, speeches, flag ceremonies and a 101-gun
      AP  -  509 words
    • 766 3  - Background to current dilemma of the can be traced back to 1967 By SOH TIANG KENG THE once mighty pound has nose-dived to its lowest In history. The background to the current dilemma can be traced ttf 1967 when the pound was devalued amidst an international liquidity crisis and Sterling
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    • 822 3  -  By PHIL BROWN AP IN ONE of his many pronouncements on how to get to the top and stay there, Mao Tse-tung wrote: "Whoever wants to seize and retain state power must have a strong army." His widow. Madam Chiang
      AP  -  822 words
    • 636 3  -  By PETER HILBORN NYT THE British pound endured its worst attack in history on Monday, suffering a record one-day fall of more than US five cents to close at US$l.59. There seemed to be nothing the Bank of England could do to
      NYT  -  636 words
  • Page 2 Advertisements
    • 139 2 AN UNCOMMON LUNCH served by happy people At The Continental, we enjoy doing things differently. Like offering a choice of 3 superb roasts on silver wagon for lunch. There's US prime rib of beef. Roasted American style. Or pork glazed with honey and beer for that extra crisp skin. Or
      139 words
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      107 words
  • Page 2 Miscellaneous
    • 279 2 SINGAPORE 5 3.00 p.m. Opening Announcements followed by December Bride The Hi-Fi Show 3.25 Diary of Events (Malay) 330 General Hospital 4.10 Fokas (Malay) (r) 4.25 Intermission 5.55 p.m. Opening Announcements followed by Secret of ISIS Sound of Silence 6.20 Consumers' Guide (English/ Malay) 630 News in Brief 635 Wildlife
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  • INTERNATIONAL COMPANY NEWS
    • 157 5 ENGLEWOOD CLIFFS. N.J., Tues. Reporting a third quarter net income rise of 14.6 per cent to U5530.69 million, CPC International forecast that the overall improvement in earnings is expected to continue for the rest of the year. For the whole of 1975, earnings per share were
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    • 140 5 Reuter STAMFORD, Conn., Tues. General Telephone and Electronics Corp said it is confident that fourth quarter earnings will show further growth over the U*****.4 million or 92 cents a share earned a year ago. The forecast comes on the back of a 17.6 per cent improvement
      Reuter  -  140 words
    • 117 5 NEW YORK, Tues. Third quarter earnings at Gillette have dropped to U5516.75 million from $20.09 million or to 56 cents per share from 66 cents previously. The 17 per cent setback was incurred despite a marginal rise in sales to $378.8 million from $374.3 million last
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    • 442 5 Reuter HONGKONG. Tues. With most of its activities performing well, Jardine Matheson (Hongkong) is looking for a growth of at least 13 per cent in group net profit to HKS3OO million for the current year ending Dec 31. 1976. The 1975 profit was $265.3 million.
      Reuter  -  442 words
    • 156 5 Reuter NEW YORK, Tues. Union Oil of California slipped badly in the third quarter with net income falling 16 per cent to US$69 million, reducing the midterm increase to only 14.4 per cent for the nine months. At the three quarter mark, net income came
      Reuter  -  156 words
    • 47 5 HONOKONO, Tues. Consolidated net profit at Hang Lung Development rose from HKS44 million to $45 million for the year ended June 30, 1976. It has proposed a maintained final dividend of 12 cents, making an unchanged total of 24 cents for the year.
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    • 910 5  -  By LORNE BARLING Financial Times THE recent decision by Scandinavian pulp manufacturers not to ln•crease prices early next year, as they had hoped,can only be regarded as a temporary reprieve for troubled papermakers in Britain and the Continent. While it'is clear that the UK
      Financial Times  -  910 words
    • 129 5 DALLAS, Tues. Following a 64.7 per cent Jump in profit for the first nine months, Texas Instruments expects fourth quarter sales and earnings to reach record levels with the strong demand for semiconductors. The company also said it expects a record yearending backlog for unfilled orders.
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    • 122 5 Reuter NEW YORK. Tues. Operating net earnings at the Signal Companies rose to $18.79 million for the third quarter from $14.93 million or 94 cents per share from 69 cents previously. Sales totalled 602.7 million compared with $604 million last time. For the first nine months, operating
      Reuter  -  122 words
    • 145 5 UPI DETROIT, Tues Chrysler has reported record third quarter profit of U5576.2 million reversing the trend in 1975 when it lost $7 million in the same threemonth period. The record pushed Chrysler's nine-month profit to $303.4 million, more than it earned in all of its best
      UPI  -  145 words
    • 135 5 Reuter TEHERAN, Tues. Iran plans to take further stakes in major international comDanies following its recent purchase of 25.01 per cent of Fried Krupp, the Shah of Iran said in a newspaper interview. "This is not only good from the point of view of Iran's future,
      Reuter  -  135 words
    • 174 5 Reuter MELBOURNE. Tues. Broken Hill Pty has formed a consortium to carry out a major feasibility study of the Ok Tedi copper prospect in Papua New Guinea. The company said the first stage of the study in which its subsidiary, Dampler Mining will have a 37.5
      Reuter  -  174 words
    • 113 5 NEW YORK, Tues. On sales up from U*****.8 million to $401 million, Northwest Industries saw a small rise in net profit to $31.25 million ($30.38 million) in the third quarter. This brought the ninemonth profit to $84.48 million ($75.30 million) on sales of $1.16 billion ($872.9 million).
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    • 97 5 NEW YORK, Tues. Inger-soll-Rand has gone Into reverse In the third quarter with net profit falling 23 per cent to U5524.38 million despite a sales increase of 11.9 per cent to $459.7 million. For the nine months, net Income was $81.87 million ($84.86 million) on sales of $1.38
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    • 68 5 NEW YORK. Tues. Kennecott Copper has reported a net profit of US$4.B4 million (loss $20.51 million) on revenue of $254.7 million ($192.5 million) in the third quarter. For the nine months, profit was $13.85 million ($l2 million) on revenue of $708.3 million ($589.4 million). Earnings per share were
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    • 952 5 On October 25 PRICES on the Chicago Board Options Exchange were mostly higher on Monday, with advances leading declines, 272 to 148. Volume approximated 64,028 contracts, down from 92,117 contracts on Friday. OPTION JAN APL JLY STOCK Alcoa Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel
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    • 176 5 NEW YORK, Tues. The profit increase at Textron has slowed down to a crawl, with third quarter net Income showing a rise of only four per cent to U5527.17 million after recording a hefty jump of 36.7 per cent at mid-term. This reduced the ninemonth increase
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    • 24 5 NEW YORK, Tues. Continental group is to increase the regular quarterly dlvident to 50 US cents from 45 cents, payable on Dec 15.
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    • 176 5 Reuter PHILADELPHIA, PA., Tues. Ina Corp said it expects substantially improved results in 1976 compared with the U5555.4 million or $2.42 in 1975 from operations and net income of $63 million or $2.75 a share. Ina said its combined ratio for the third quarter improved to
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    • 62 5 HOUSTON, Tues. Third quarter net income at Shell Oil rose from US$l6O million to $198 million on revenue up from $2.1 billion to $2.4 billion. For the nine months, income came to $566 million ($382 million) on revenue of $6.9 billion ($6.1 million). Earnings per share were $2.84
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    • 161 5 NEW YORK. Tues. With the first nine months having seen a 17.5 per cent increase in net profit, Kimberly-Clark is confident of achieving record results for the full year. The chairman, Mr. Darwin E. Smith, told security analysts that record earnings and sales for this year seem well
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    • 586 5 OPTIONS TRADING Financial Times AMSTERDAM, Tues. If Britain's stock exchange members vote in December against starting a traded share options market In London, Amsterdam's planned European options exchange would welcome British members. It would also hope to deal in options on leading British shares, as well
      Financial Times  -  586 words
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  • 1955 6 SECTION ONE INDUSTRIALS 1»7« Hi«k Low CMfujr Last 8*fe Gr'» div Div c'rr Gr'» y'H P/E Vol Day ('000) Hick Low 250 206 100 237 186 402 204 248 460 137 170 172 60 185 66 254 151 172 394 39 Ac ma Alcorn Allied Choc Bata
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  • 1292 6 BID and offer prices officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets In lots of 1000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "Sett." Big Boards
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  • 158 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Manager's prices for Oct 27) The Commerce 1.65 1.73 (Current prices) INCOME BOND 1.07 1.13 The Saving Fund 0.92 0.07 MARA BUMIPUTRA FXJND S pore Prog Fund 0.77 0 82xd S pore Security Fund 1.23 1 29 S'pore Invest Fund ...1.01 106
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  • 407 6 S'porr Govt 5 1/2% Taxable Loan No 2 With A I 1975/lst Dec 1977 (1.000.000) (101 688 101.78S) S pore Govt 5 1/2% Taxable Loan No I With A I 1976/15 th Apr 1978 (1.000.000) (101.638 101 70S) S'pore Govt 6 3/4% Taxable Loan No I
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  • 1144 6 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets in lots of 1,000 units unless otherwise specified. INDUSTRIALS Afinamata (1.78B). Alcam (2.108 2.208), XD. A. Choc (0.698). A.P.I. (0.498
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  • Page 6 Advertisements

  • 499 7 EASIER conditions persisted in light trading at the Stock Exchange of Singapore yesterday. Throughout the morning and afternoon sessions sellers dominated the scene. From the slow tempo of trading attended by fairly sharp loses, it was obvious that the market was still not in the mood
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  • 398 7 SENTIMENT continued to rule weak at the Kuala Lumpur Stock Exchange yesterday. Most shares ended in minus territory in very light trading. The main constraint on market sentiment is the coming Malaysian Budget on Friday. Though most analysts are uncertain about what is in store
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  • 115 7 UNITED Overseas Bank announced that at the end of the third quarter 17.74 per cent of its issued ordinary share capital including the 7.21 million shares to be issued on the full conversion of its 6'/ 2 per cent convertible bonds 1988 is beneficially
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  • 52 7 BRITISH and Malayan Trustees is to pay an unchanged dividend of 15 per cent for the year ended June 30, 1976. The transfer register of the company will be closed on Nov 16, It announced yesterday. The company will be holding its AOM at 12 noon on
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  • 899 7 NEW YORK: Stocks, burdened by uncertainty ahead of the presidential election next week, traded over a narrow range on Monday, but with the bias on the downside. Economic woes at home and the battering of the British pound on foreign exchange markets also made for a cautious attitude
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  • 272 7 AMSTERDAM: Shares fell across a broad front on Monday with Unilever and Royal Dutch hardest hit by the decline in sterling. Other Dutch internationals lost moderate ground, dealers said. Wall Street's weakness also dampened sentiment. Heiaekea, KLM, Van Ommeren and Enni* led the trend elsewhere. Fokker, OCE and Naarden
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  • 179 7 FRANKFURT: Shares fell to the year's low In thin trading on Monday, following Wall Street's easier trend and hectic conditions on foreign exchange markets with some foreign Investors selling shares In favour of mark bonds, market sources said. OCT 29 Dm ABO 70.80 -1.9 Alii Leben Alb Van BASF
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  • 347 7 SYDNEY: The market fell on strong selling pressure on Tuesday, with sentiment adversely affected by the recommendations against sand mining on Fraser Island, and ahead of the forthcoming report on uranium development, dealers said. The Sydney All-ordinaries fell 5.3 points to 432.43. OCT 38 Cents INDUSTRIALS A. C. I
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  • 305 7 JOHANNESBURG: The market was very quiet on Monday on lack of Interest, dealers said. oct a Rand INDUSTRIALS A Alpha Abercom AE And CI 85 unch 240 -S 180 unch AMIC ATI Bankor Barlows aS"".:: 253 -2 MS 180 CvirrttFinance 40 640 a* unch Edgar* ***** Eyeread MB unch
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  • 125 7 MANILA: The market continued easier in dull trading on Tuesday with minings leaders falling on the decline In metals prices, dealers said. The Commercial and Industrial average closed at 74.30 up 0.20 point. Turnover totalled 2,974,024 million pesos. OCT X Pesos Acoje Mining Atlas Con. A Atlas Con B
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  • 322 7 HONGKONG: Share prices on the Hongkong Stock Exchange closed lower on Tuesday In sharply reduced trading. The Hang Seng Index dropped 3.93 points to 392.51. The market opened on a weak note and share prices drifted downward In the morning. Prices dropped further In the afternoon with most of
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  • 224 7 ZURICH: The market closed slightly easier on Monday, lacking buying interest and Influenced by the weak preweekend performance on Wall Street. Activity continued quiet. The Credit Suisse Index fell one point to 203.7. OCT It Francs Action*Sulsses M s Alusulsse Br 1230 -40 Alusulsse Rec 470 unch Brown Boverl
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  • 217 7 TORONTO: The Industrial Index slid below 175 on Monday as mines, metals and industrials slumped in light trading on the Toronto Stock Exchange. Closing volume totalled 1.84 million down slightly from Friday's close at 1.90 million. OCT 23 O AblUbl 10* 23* Algoma 22* unch Bank Mont 15 Bell
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  • 318 7 PARIS: The market was sharply lower on Monday following announcement by Mr. Georges Seguy. secretary general of the major Left-wing Union Confederation Generate du Travail that the steel and car sectors could be Included in a nationalisation package If the opposition comes to power In 1978. OCT 2S FYl
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  • 103 7 BRUSSELS: The market eased In quiet trading on Monday, dealers said. OCT 25 Fn forward market Acec 306 -5 Arbed 3560 unci) Astur 998 -16 Brascan 420 +20 Bru-Lamb 1755 ♦5 Can par 624 -14 Cock 576 -20 De Beers 101 -I Ebes 1930 10 Elect robel 5500 -40
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  • 146 7 MILAN: All sectors were lower on currency control measures and heavy profit taking In quieter trading on Monday, dealers said. Moatediaon led declines In leading Industrials but Pirelli was a firmer spot. Insurances eased while Mediobanca In banks. Ifl Privileged and Baatogi In flnanclals were also lower. Bonds were
    146 words
  • 376 7 TOKYO: The market closed slightly higher In moderate trading on Tuesday. The Dow-Jones average gained 3.03 to 4,618.53 with volume 180 million shares. The new index cloeed at 348.35 up 0.01. The second market was slightly higher with volume nine million shares. OCT M Yen AJlnomoto <22 4M -10
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  • 767 7 LONDON, Tues. The stock market remained sensitive to news surrounding the forthcoming IMF loan, and a press report of a possible 18 per cent Bank of England minimum lending rate caused renewed weakness. Technical factors helped some Issues to close above the day's lows but at 3 p.m. the
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  • 90 7 FINANCIAL TIMES INDUSTRIALS Monday 279.9 Friday 289.7 Week ago 303.0 TINS Monday 116.25 Friday Week ago r 117.40 118.34 RUBBERS Monday 491.50 Friday 499 82 Week ago 489 24 OILS Monday 338.31 Friday 343.52 Week urn 345 *2 DOW JONES AVERAGE INDUSTRIALS Monday 938.00 Friday 938.75 W'wk sura 0441
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  • COMMODITY REPORTS AND PRICES
    • 590 8 AFTER an unchanged opening yesterday, prices In the Singapore rubber market fell by about one cent on lack of buying support, with dealers adopting a wait and see attitude, awaiting sterling's opening In Europe, dealers said. Forwards trading was small while Physicals were again neglected. The market closed
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    • 92 8 DAILY 88R and SMR price* at noon ]re*terday: R.A.8. Ne». (Cumat Mtk) (FarwaH Mtk) Bayer* (OMU SeUan i»*rk«) Seller* P*rk«) S8R20 (1-ton Pallet*) 189.90 191.908 190.90 192.SON SSR50 (1-ton Pallet*) 187.00 1M.006 1M.00 190 00N M.R.E.L.B. smr scv (i-ton pallet )2ia.so 117.90N 217.90 218.90N SMR SL (1-ton
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    • 130 8 THE Straits tin price In Penang yesterday fell $3.12* to close at $1,180.00 per plcul on an official offering down 20 tonnes to 270 tonnes. In LONDON on Tuesday, tin standard grade fell by about £57 for Cash and £47 for Three Months while high grade lost £57
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    • 30 8 Rubber: Oct 26 Sin( a pore: Nov. 206.75 cU (down I.2S eta.) Malaysia: Nov. 213.00 eta. (unch) Tin: $1,180.00 (down $3.1*4) Official offering: 270 tonnea (down 20 tonne*)
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    • 142 8 LONDON, Tues. Silver was 0.7p per troy ounce lower to 0.5p higher. Initial pre-market steadiness, which reflected the overnight US close and higher gold this morning, was not maintained In the ring, dealers said. Liquidation and stoploss selling took Three Months down to 270.0p following steadier sterling before losses
      142 words
    • 111 8 The following Palm Oil price* were quoted in London on Monday. The drices are elf Rotterdam and are quoted in US dollar* per lone ton unless otherwise ttated. Monday Prev Malaysian 5* ffa bulk Dec 443a/r 438s/r Jan 443a/r 43Sa/r Sumatra 5% Oct unch 470* Nov unch 445*
      111 words
    • 243 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk 170 tellers, old drum 175 seller*, new drum $80 sellers. Copra: Mixed (loose) UK/Cont. MS buyers. Pepper: Muntok ASTA while f.o.b. 100% NLW $325 sellers, Sarawak white fob 96% NLW $307Vt sellers. Sarawak special black
      243 words
    • 341 8 AHEAD of the fourth IMF gold auction in New York on Wednesday, the prices edged upwards In Singapore yesterday. The kilo bar was quoted at 559,270/ 9,300 and for London delivery the Brice rose from an opening *****.90 per ounce to a closing of $117.50, up $1.50 on Monday.
      341 words
    • 264 8 LONDON, Tues. Copper wlrebars finished the morning showing all round losses of £11 per tonne. Dealers said values worked lower under liquidation and some short selling prompted by steadier sterling on a market lacking sufficient physical offtake to maintain the higher levels. On the pre-market. Three Months traded from
      264 words
    • 60 8 LONDON, Tues. Lead eased by £3.25 per tonne for Cash and £2 for Three Months. Three Months traded from £299 in the premarket down to £294 in the ring before final trade at £295.50. Phvsical activity was very small dealers said. A widening contango finished at £15.50 for Cash
      60 words
    • 82 8 LONDON. Tues. Zinc fell by £7 per tonne for Cash and £6.25 for Three Months. Three Months business ranged between £402 and £398 per tonne. The contango widened and traded at £20.25 for Cash to Three Months. Of sales of- 1,975 tonnes about half were carries. On Monday afternoon,
      82 words
    • 122 8 LONDON, Tues. Terminal opened 1.25 to £0.65 above Monday's 1700 hrs levels but over £1 below the kerb close. Sales totalled 018 lots. Dealers had expected some follow-through from monday's steadier kerb trends but the higher levels immediately attracted fresh selling which gave the market a barely steady appearance.
      122 words
    • 166 8 LONDON, Tues. Robusta futures opened irregularly lower, 125 to 142 down from Monday's close. Turnover at the opening call totalled 284 lots. Jan was quoted at 1,996 seller compared to C 2.021 seller at Monday's close with new Nov at £2.000 seller (previous close £2,045 seller). On Monday afternoon,
      166 words
    • 106 8 BANOKOK. Tue*. Indicative price* for rice quoted yesterday were. US dollar* per tonne FOB bail* Bangkok White Rice: 100 per cent 1st claa* 300, 100 per cent 2nd clan 2S9. 100 per cent 3rd claa* 290 5 per cent >70. 10 per cent 253. 19 per cent 290. 20
      106 words
  • MONEY AND EXCHANGES
    • 458 8 SINGAPORE'S forex market did not open with a bang yesterday as some people would have expected following sterling's plunge through the Ss4 barrier the previous day. The currency opened at the US$l.5BlO/20 level until mid-morning when selling pressure again from Hongkong brought the rate down further to U551.5840/60 But
      458 words
    • 136 8 Asian rates ASIAN currency deposit Interbank rate* a* at close on Oct 26: L'8 Dollar* (Spot) Offer BM 7 day* 1 mth 2 mth* 3 mth* 5 11/16 9 9/16 6 mth* 9 mth* 6 1/16 5 15/16 12 mth* 6 3/16 6 1/16 8w. Fr*. Dm*. (middle price*) 1
      136 words
    • 51 8 RANGE or price! offered by dlscount houses on Oct 20 Overnight 1-7/8 to 3-1/8* Call deposit 2-1/2 to 3-1/8* ClMinc Buy 8*11 3-Month Treasurer bill* 3 3/18 3 1/18 3-Month Bank bills 4 3 7/8 3-MonthsCD 4 3/18 4 1/8 8-Month 4 5/8 4 1/2 Source: National Discount
      51 words
    • 189 8 Euro rates LONDON, Tues. Eurodollar deposits opened steady and were little changed In early fairly quiet conditions, dealers said. Main attention again centred on nervous foreign exchange markets, though a bid tendency noted in the middle of quoted Eurodollar ranges In early trading was matched by funds, some dealers said.
      189 words
    • 58 8 Minimum lending rates (in ACBC 7 Atgomono Bonk 7 Bongkok Bonk 7'A Bonk of Amor tea 7 Bonk of Chino 7'A Bor* of Tokyo 7 Citibonk 7 HKSBC. 7% Indotuar 7 Motoyon Banking 7 Bonk Nogoro 1 n donatio 7V4 Chortarod Bonk 7 Choto Monhorton 7 OCBC 7 OUB 7
      58 words
    • 174 8 Reuter BANGKOK, Tues. The rice market was very quiet during the week with no business concluded either on government-to-government or commerlcal basis, trade sources said. Overseas buyers were adopting a wait-and-see atltude after their immediate requirements had been filled. The approach of the harvesting
      Reuter  -  174 words
    • 123 8 LONDON, Mon. A total of 51,752 packages of tea were offered at today's auction, the Tea Brokers Association reports. After a heslstant opening Assams were readily absorbed with brighter lines fully firm to dearer but mediums were Irregular and sometimes lower with quality. Dooars were well competed
      123 words
    • 93 8 FT LONDON, Tues. Total EEC sugar production during the current season Is provisionally estimated at 9,728,000 tonnes, giving an exportable surplus In the 35 weeks to next June of 759,000 tonnes. Of this, 34,100 tonnes were authorised at yesterday's weekly export tender, leaving 724,900 tonnes still available,
      FT  -  93 words
    • 532 8 LONDON, Tues. Sterling traded around half a cent below its overnight level In a thin and nervous market when currency dealings opened, dealers said. They reported modest two-way business at rates between yesterday's Singa6 ore close of around 551.5870 and a little over $1.5910, compared with London's 5i.5920/50 overnight
      532 words
    • 241 8 NEW YORK, Mon. Sterling closed 5 ft cents below its Friday level or at Its lowest close ever here after Its fall amid a wave of selling from Europe and the US, dealers said. The sharp fall mainly followed a British press report that the International Monetary Fund
      241 words
    • 131 8 TOKYO, Tues. The US dollar for overnight dellvery closed at 293.70 yen, unchanged from Monday's close, after opening easier at 293.30. Dealers said the US currency Initially fell as traders Increased forward dollar selling to cover export contracts but later the rate rallied slowly after selling offers subsided. A
      131 words
    • 45 8 HONGKONG banknotes quoted on Oct 26: US 4.79/ 4.81 UK 7.60/ 7.80 Burma 2.00/ 2.50 India 4.40/ 4.70 Indonesia 1.10/ 1.14 Japan 1.63/ 1.64 Korea 0.90/ 0.94 Philippines 0.59/ 0.62 Singapore 1.945/ 1.965 Malaysia 1.89/ 1.91 Brunei 1.89/1.91 Thailand 23.20/ 23.50 Taiwan 11.80/ 12.10
      45 words
    • 55 8 ZURICH exchanges quoted on Oct. 25: US 2.4358 4368 UK 3.8825 8880 Can 2.5050 5070 W'Oerm 101.31 41 Neth 95.85 96 France 48.86 91 Belg 6.59 60 Denm 41.38 43 Norw 46.05 09 Swed 57.61 67 Italy 0.2811 2826 Austria 14.24 27 Port 7.76 79 Spain 3.57-Vs —58 Arg
      55 words
    • 55 8 AUSTRALIA/NZ exchanges quoted on Oct 26: Australia: Sterling 0.7739/ 0.7661 US dollars 1.2306/ 1.2256 Ninety day air mall buying rates: Sterling 0.8123, US dollar 1.2586 Ninety day forward buy- ing rates: Sterling 0.7942, US dollars 1.2145 New Zealand: Sterling .5999/ .5964 US dollar .9615/ .9515 Ninety day forward rate:
      55 words
    • 29 8 FRANKFURT exchanges quoted on Oct 26: CAN 2.4820/40 UK 3.825/840 Neth 94.62/77 Switz 98.65/80 Italy 2.78/80 France 48.05/20 Norw 45.451/59 Belg com 6.495/510 Belg fin 6.41/42 Japan 0.8195/8210
      29 words
    • 339 8 LONDON, Tues. Straight bonds were a shade harder In quiet trading, dealers said. In general prices firmed Mi point throughout the list. In first time dealings the Quebec Hydro Electric 125 million BVt Issue due 1986 and priced at par opened around 99*4 100 and later settled around
      339 words
  • Page 8 Advertisements
    • 159 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) Surface mail Zone Singapore Malaysia. Brunei Overseas Second class airmail (Individually wrapped and mailed) Zone Brunei, Sarawak. Sabah Australasia/Pacific (excluding Hawaii)
      159 words

  • TRANSPORT and COMMUNICATIONS
    • 1042 9  -  By DAVID EGLI UNLESS STEPS are taken to reduce port congestion, the economic cost of ship and cargo delays this year could well exceed US$5 billion (5512.5 billion) according to the secretariat of the U.N. conference Trade and Development (Unctad). This alarming assessment, included
      1,042 words
    • 561 9 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKO TMA TL304B 0530 TPE PAA PA841 0835 SFO/HNL/OUM CAL CI816 1000 HLP JAL JL712 1000 HLP SIA SQ209 1010 HLP OIA OA980 1030 HLP CPA CX710 1030 HLP THAI TQ423 1035 BKK THAI TG981 1050 BKK
      561 words
    • Article, Illustration
      298 9 EXPECTED ARRIVAL TODAY KEPPEL WHARVES Auby (1500 after Rajah Brooke) 20 East Nippon Maru (1400) 42/43 Pearl Island (SMZV) (1200 after Lambros TsagHot Is) 45 Perak (1800 after Tapah) 21 West Perils (0600 after Rajah Brooke) 20 West Sea Dolphin (6ZIR) (2000 after Benstac) 33/34 Straat Singapore (1500
      298 words
    • 863 9 DETROIT, Tuea. NYT HOW can the Chrysler Corp., smallest of the United States big three car producers, stay competitive if it can't match the big two In spending? Through an ambitious new-model programme that is to stretch Into 1985 and
      NYT  -  863 words
    • 496 9  -  By OWEN ULLMANN AP A NATIONWIDE strike against Ford Motor Co. may have cost the US car less 100 million (Ss24o million) or more, financial analysts say. A dozen financial analysts said the walkout by the United Auto Workers cut into Ford's third-quarter net
      AP  -  496 words
    • 595 9  -  By TERESA LIM THE Institute of Marine Engineers in Singapore (I. Mar. E.) is making small but sure steps towards coordinating its activities with the Society of Naval Architects, Singapore (SON AS). One such activity is the institute's third biennial seminar on "Marine Technology." SONAS has
      595 words
  • Page 9 Advertisements
    • 241 9 Versatile Avery Scales mm They measure up as an investment These versatile Avery Scales are useful in shops, factories, plantations, and offices. Built to last. Designed to give the highest standard of accuracy, Avery Scales take the delay out of weighing and pricing. They insure against errors. Protect your profit
      241 words

  • 2164 10 VIEWS DIFFER WHETHER THE CONFEDERATION OF BRITISH INDUSTRY SHOULD BE A PARTNER IN A CORPORATE STATE ADRIAN HAMILTON REPORTS... THE Confederation of British Industry's weighty economic policy document released last week could as much be called a "road to recovery" for the
    2,164 words
  • 760 10  -  By CHARLES CHAN BUSINESSMEN expect some special Incentives in Tengku Razaleigh Hamzah's first budget on Friday to enable them to meet the target of $26.8 billion in private investments under the Third Malaysia Plan. At the same time, the labour movement hopes that the
    760 words
  • 723 10  -  By ROSIHAN ANWAR THERE is nothing to worry about Indonesia's economic situation, assured a minister after a recent meeting with President Suharto on Indonesian trade and finance. When the Central Bank resumed publication of its weekly report on Sept 2 after an absence of more than
    723 words
  • Page 10 Advertisements
    • 359 10 The first new idea in encyclopaedias in over 200years-Britannka 3 Britannica 3 does what no other encyclopaedia has ever done before: It serves the three basic needs of users in three distinct ways. (see below) That's what makes it the most useable reference work ever developed. That's why Britannica 3
      359 words

  • 295 11 Reuter NOUMEA, Tues. Island nations at the 16th conference of the South Pacific Commission (SPC), today unanimously called for a major effort to develop a true regional Identity. In a lengthy debate spearheaded by the Cook Islands and the Solomons, with strong
    Reuter  -  295 words
  • 142 11 Reuter PARIS, Tues. Business talks between France and Japan ended today with agreement that the growing French trade deficit with Japan should be reduced, but with no formal decision on how to achieve it. The French Patronat Employers Federation and the Japanese Federation of
    Reuter  -  142 words
  • 27 11 UPI MOSCOW, Tues. The Soviet Union launched a r»w satellite to explore outer space yesterday, number 863 in the cosmos series, Tass said today. UPI.
    UPI  -  27 words
  • 617 11 ECONOMIC RESEARCH BODIES' FORECAST Reuter BONN, Tues. Four of West Germany's five leading economic research institutes said the conditions for an expansion in the country's economy remain favourable, with real growth of 5.5 per cent likely in 1977 after around six per cent this
    Reuter  -  617 words
  • 364 11 Asian mart is third largest SINGAPORE Asian dollar market is the world's third largest off-shore market after London and Nassau. This is stated by Mr. A. Heerding, vice-president of the Bank of America. In an article In the Journal of Business, organ of the Business Administration Society, Mr. Heerding notes
    364 words
  • 378 11 UPI WASHINGTON, Tues. Banking records of the South Korean embassy and members of its delegation have been subpoenaed by the Justice Department because of alleged payoffs to US congressmen from foreign businessmen, the Washington Post reported today. The Washington Post, quoting department sources, said
    UPI  -  378 words
  • 124 11 AP TOKYO, Tues. A public opinion poll taken by the Asahi Shimbun, an independent newspaper, showed 56 per cent of Japanese polled believed the ruling Liberal Democratic Party (LDP) will win the majority of Lower House seat* when Japan's next general elections are held in
    AP  -  124 words
  • 29 11 UPI ATHENS, Tues. Greece and the Soviet Union opened talks yesterday to examine political, economic and cultural relations between the two countries, a government spokesman said. UPI
    UPI  -  29 words
  • 228 11 UPI ALGIERS, Tues.' The Club of Rome opened a special four-day meeting yesterday In Algiers with discussion of proposals to divide the globe Into 10 economic priority zones, and to set up five world agencies In pursuit of a new International economic order.
    UPI  -  228 words
  • 96 11 UPI HONGKONG, Tues. A Chinese petro-chemical machinery plant has trial-pro-duced a high-pressure polyethylene reactor that has an annual output of 10,000 tonnes, the New China News Agency (NCNA) reported yesterday. "Pressure tests and trialruns verify quality to be up to standard," NCNA said. The agency
    UPI  -  96 words
  • 336 11 Reuter MANILA, Tues More than 2,000 government employees, including 69 provincial governors or city mayors, are being officially investigated or charged over abuse of authority, graft and harassment, the Times Journal newspaper said here today. The report, which did not say when the investigations began,
    Reuter  -  336 words
  • 216 11 Reuter WIESBADEN, Tuea. Germany's foreign trade surplus rose to 4.66 billion marks (554.71 billion) in September from August's 1.21 billion and compares with 2.7* billion in September last year, the Federal Statistics Office said. Exports in the first nine months this year total
    Reuter  -  216 words
  • 224 11 AP VALENCIA, Tues. With Spanish King Juan Carlos looking on, Mr. Henry Ford II opened a new, US$l billion (552.45 billion) Ford production plant yesterday aimed at giving the American car-making giant a bigger share of the European car market. The King, also touring
    AP  -  224 words
  • 230 11 AP HALIFAX (Canada), Tues. British domestic problems are fostering feelings of disinterest and even hostility towards the organisation that bands together the 36-member British Commonwealth of Nations, two top officials of the Royal Commonwealth Society said yesterday. Sir Cyril Plckard, deputy chairman of the society,
    AP  -  230 words
  • Page 11 Advertisements
    • 54 11 This announcement appears as a matter of record only Lvfe REPUBLIC OF THE PHIUPPINES U559,000,000 Term Loan managed by FIRST CHICAGO ASIA MERCHANT BANK LTD. and provided by The First National Bank of Chicago Bank of Montreal BNS International (Hong Kong) Limited Commonwealth Trading Bank of Australia Agent FIRST CHICAGO
      54 words
    • 669 11 NOTICES TUP muDivirfl APT THE COMPANIES ACT. CAP. 185 SINGAPORE TUBULAR SCAFFOLDING (PTE) LTD (Members' Voluntary Winding-Up) At an Extraordinary General Meeting of the Members of Singapore Tubular Scaffolding (Pte) Ltd held at the office of the Singapore Factory Development Limited, DBS Building. Shenton Way, Singapore 1 on the 24th
      669 words
    • 483 11 Shangri-La Hotel listration for Tender Subcontractors Suppliers Tenders will be called for the supply and/or installation of the following items shortly: 1. Carpet and carpet underlay 2. Carpet installation 3. Furniture (including rattan) 4. Lamps (woodcarved and ceramic types) 5. Boxsprings and mattresses 6. Non-allergic pillows 7. Health Club equipment
      483 words

  • 400 12 WITH the topping off ceremony held yesterday at Its Ardmore Park property Malayan Credit Ltd's energies (so long tied up In developing its Singapore interests) will now swing towards the development of its Malaysian properties. While directors of the company emphasise that they will
    400 words
  • 356 12 SINGAPORE'S exports of timber and timber products rallied during the latter part of last year and early this year, according to the annual report of the Timber Industry Board for the 12 months ended March, 1976. This is reflected in the 57 per cent jump in
    356 words
  • 316 12 LONDON. Tues. There Is a renewed and reportedly, increasing demand for leasing large, modern offices in the City of London, which has led to a steady rise in rents over the past six months. Estate agents here say that if this continued into next year,
    316 words
  • 330 12 Reuter PITTSBURGH, Tues. President Ford today made his harshest attack on Democrat Jimmy Carter, accusing him of making foreign policy statements that invited conflict and aggression. In his tough attack, with only a week to go to the presidential elections, Mr. Ford accused his
    Reuter  -  330 words
  • 315 12 Reuter LONDON, Tues. UK Chancellor of the Exchequer Denis Healey told Parliament the IMF will not decide on appropriate loan terms until its staff arrive in London next month. Mr. Healey said: "The IMF will not form a view on what
    Reuter  -  315 words
  • 112 12 Reuter LONDON, Tues. Opposition Conservative Party Member of Parliament, Mr. Peter Viggers, has asked the UK Press Council in a letter for an immediate inquiry into the "Sunday Times" report on Sunday that one of the IMF conditions for granting the Government's request for a loan
    Reuter  -  112 words
  • 36 12 UPI LONDON, Tum. British Prime Minister Junes CalItfhan insisted yesterday evening that the British pound is undervalued and said the Government will stand by its policies despite sterling! fall to a new alltime low. UPI.
    UPI  -  36 words
  • 27 12 Reuter LONDON, Tues. National Westminster Bank and Lloyds Bank said they raised base rate to 14 per cent from 13.5 per cent, effective today. Reuter.
    Reuter  -  27 words
  • 127 12 THE "floatpad", a small engineering device that can take most of the strain, time, and expense out of moving heavy loads in factories and workshops, will be introduced to Singapore shortly. Developed by the National Engineering Laboratory, UK, the externally pressurised compliant system
    127 words
  • 50 12 UNITED Motor Works, local distributors of Toyota forkllfts, has started a launching of mobile inspection and service scheme for its customers. Specially trained mechanics will regularly inspect Toyota forklifts at work sites to diagnose potential problems free of charge, advise'on necessary replacement parts, and provide servicing, if required.
    50 words
  • 36 12 DEVELOPMENT Bank of Singapore filed a writ In the High Court yesterday against Chye's Creative Studio Pte Ltd. which occupies a shop at Plaza Singapura for the sum of $18,084 being possession of premises.
    36 words
  • 518 12 $9.5 bil LOAN FROM THE IMF Reuter WASHINGTON, Tues. It will be at least several weeks before the International Monetary Fund's executive directors will be in a position to consider Britain s request for a US$3.9 billion (559.5 billion) loan, monetary sources here said.
    Reuter  -  518 words
  • 520 12 UPI LONDON, Tues Prime Minister James Callaghan has served a blunt warning on the United States and West Germany that if they "push Britain too far" she may have to renege on her contribution to Western defence. "If we are pushed
    UPI  -  520 words
  • 538 12 HONO Leong Holdings' plans to go public appear to have hit a few snags. It seems most likely that the company will not be able to seek a listing again before next year. It is understood that this is because the Securities Industry
    538 words
  • 493 12 THE Industrial Training Board ITB exists to serve industry by training the skilled manpower required for growth. This, according to Mr. Lim Jit Poh, director of industrial training, is the essential message of the seminar on training for Industrial growth, which closed yesterday.
    493 words
  • 214 12 A sai.es base for Eurocan I Pulp and Paper Canada, was officially opened in Singapore early this month. This wholly-owned subsidiary, Eurocan South East Asia, was set up In response to a need for supplier presence in the region's growing market. According to its
    214 words
  • 433 12 Reuter HONGKONG, Tues. Currency fluctuations, In particular the sharp decline In sterling, will reduce Jardine, Matheson and Co Ltd's group 1976 net profit by HKSIS million (557.5 million) from the figures projected In Its budget for the year, the chairman and senior
    Reuter  -  433 words
  • 31 12 HONG LEONG Co Pte Ltd. one of the Hong Leong group of companies, has filed a writ for $29,200 for goods allegedly sold and delivered, on Everlsing Trading Company.
    31 words
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