The Business Times, 1 November 1976

Total Pages: 10
1 10 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) 1455/76 MONDAY, NOVEMBER 1, 1976 50 CENTS
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  • NEWS SUMMARY
    • 84 1 BONN, Sun. The Shah of Iran said In an interview published here today that the price of his country's oil must be raised by at least 15 per cent because "our purchasing power has dropped by nearly 40 per cent since we raised oil prices....in 1974."
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    • 66 1 Reuter HONGKONG, Sun The United States and Britain yesterday reached an agreement that PanAmerican Airways will end its services between Hongkong and Sydney not later than Jan 31 1977, a government spokesman said. The agreement was amicably reached in the course of negotiations between the two
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    • 53 1 AP TAIPEI, Sun China Airlines, based in Taiwan, inaugurated service to Jeddah, Saudi Arabia, today with a Boeing 707 flight with more than 150 government officials, aviation leaders and dignitaries aboard. The Nationalist Chinese flag carrier will fly to Saudi Arabia twice weekly with stops at Hongkong
      AP  -  53 words
    • 78 1 TOKYO, Sun. Japan opens a crucial five-day talks with the United States and Canada tomorrow here which will have an important bearing on the Japanese fishing industry particularly because both Canada and US are to enforce a 320-km fishery zone early next year. The governmental Japan-US-Canada Fishery
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    • 83 1 BEIRUT, Sun. Maj. Gen. Mohamed Hassan Ghoneim, military leader of the 30,000-strong peacekeeping force under the command of President Elias Sarkis, today failed in his attempts to get all the warring factions for talks aimed at implementing the Arab peace plan. A meeting of leftists, rightists
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    • 47 1 UPI HONGKONG, JAN. A sit-in staged by more than 100 workers at the Sea Land container wharf has diverted four ships to Japan, local newspapers reported today. The container ships were unable to unload their cargo here due to the sit-in, the reports said.
      UPI  -  47 words
    • 55 1 Reuter TEHRAN, Sun South Korean Deputy Premier and Minister of Economic Planning Board Nam Duck-woo arrived here today to attend the second meeting of a joint Iran-South Korean economic ministerial commission. The minister is accompanied by a 15-member high-ranking delegation, including special assistant to the South Korean
      Reuter  -  55 words
    • 75 1 Reuter PEKING, Sun. Culture Minister Yu Hui-yung, one of China's most prominent leftist radicals, was today attacked in wallposters pasted up in the Peking suburbs. Mr. Yu has been closely associated with Mao Tse-tung's widow, Chiang Ching, who has been purged with three other politburo members for
      Reuter  -  75 words
    • 72 1 AP KUALA LUMPUR, Sun. Prime Minister Sirimavo Bandaranaike of Sri Lanka will arrive on Friday for a four-day official visit, her first to Malaysia, the Foreign Ministry said today. Her visit will be part of a tour of South-east Asian countries, the Ministry added. Mrs. Bandaranaike
      AP  -  72 words
  • 117 1 THE following list of stocks gives the 10 most traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units closing prices on Friday and high and low for 1976. Company T urnover Prices High Low '000 Oct. 29 1976
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  • LOCAL STOCK INDICES
    • 79 1 Oct. 25 Oct. 26 Oct. 27 Oct. 28 Oct. 29 +B T. Index: 244 37 241.14 245 38 249.28 247.66 •Industrials: 247.82 246.33 246.91 248 05 247 98 (o>Finance: 450 35 449.01 451.34 454.65 453.13 "Hotels: 150.36 149.70 149.90 150.43 150.23 •Properties: 141.31 137.94 138 75 139.53 138.83 +Tins:
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    • 78 1 Oct. 25 Oct. 26 Oct. 27 Oct. 28 Oct.» •Industrials 269.69 268.25 268 83 270.35 269.88 (S) Finance: 382 82 381.32 384.14 387.67 385.76 ••Hotels: 169.05 169 05 169 05 169.05 169.25 •Properties: 142.04 141.51 141.89 141.80 141.22 •♦-Tins. 93.34 93.17 93.15 93.10 93 32 rubbers: 292.93 292.79 293.41
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  • 999 1  -  NO MORE FREE HAND FOR BUILDERS By COLIN CHEE THE new Housing Developers Rules 1976, subsidiary legislation to the Housing Developers (Control and Licensing) Act 1965, which came into operation in September may not be every house buyer's dream. However, according to the housing
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  • 1010 1 AVIMO Singapore is a small company with approximately 135 employees. It is nevertheless a remarkable company by any standard. Its technology is claimed to be one of the highest worldwide; it makes consistently good profits regardless of economic booms and recessions, it
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  • 212 1 UPI TOKYO. Sun. An influential business leader said upon his return from a European tour today that Japan's surplus exports to common market nations are developing into a political issue. Mr Toshiwo Doko, president of the Federation of Economic Organizations (Keldanren), told am airport
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  • 112 1 Reuter LONDON. Sun. A farther £40 million (***** million) credit, backed by the British Government Export Credit Guarantee Department, has been arranged for the Hongkong Maaa Transit Railway Corporation, the Department said. The credit, arranged by Kleinwort Benson on behalf of a consortium of London clearing and
    Reuter  -  112 words
  • 164 1 LONDON, Sun The Economist says although local analysts have not discounted the possibility of Swire, or even Sime Darby, or Inchcape, joining the fray, it is likely that the battle for Wheelock Marden will simply end up as a naked power struggle between Hongkong
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  • 151 1 JURONG Shipyard has just been awarded a contract valued at about $30 million by the Royal Dutch Shell Group to build a tin ore dredger whose eventual cost is in the region of $100 million. The Shell group's metals unit. Billiton, announced on Friday in
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  • 271 1 Reuter SAN ANTONIO (Texas) Sun. Huge crowds of Texans swarmed round Democratic Candidate Mr. Jimmy Carter' in the last weekend of the presidential campaign but President Ford's hopes were boosted by polls showing he was rapidly closing on his rival. The final poll
    Reuter  -  271 words
  • 210 1 Reuter NEW YORK. Sun. A Petroleum Industry Research Foundation Inc study said the Organisation of Petroleum Exporting Countries can only justify an oil price rise in the range of 2.7 to 7.8 per cent based on increases in the composite price of their imports.
    Reuter  -  210 words
  • 101 1 ThE Development Bank of Singapore announced over the weekend that it is cutting its prime rate (the minimum rate given to its best customers on loans granted) from seven per cent per annum to 6*< per cent per annum effective from today. It is the first major
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  • Page 1 Advertisements
    • 50 1 Wiyfoong MAF A lending hand when Wayfoong Mortgage you need and Finance (Singapore) Limited It lllOSt Shaw House Ground Floor. 354 Orchard Road, Singapore 9. Tel: *****7. INSIDE leisure/TV Radio Leisure/Crossword Features News Features Local/International Co News P2 Overseas Markets P3 Commodities P4 pj Sports Local ft Overseas P6 News
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    • 119 1 NCD? ACBC makes it easy. When you require Negotiable Certificates of Deposit, you'll find it easy to talk to the people at ACBC. ACBC offers high interest rates on NCD's, for minimum deposits of $100,000, on fixed periods of not less than 3 months. ACBC has the resources, experience and
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    • 182 1 NOW Cool Healthy pollutionlive chiving is POSSIBLE W&V COOL_ /MASTER PUREACE i\» CAP AIQ CONOmONER AH PURFCB Tel *****2 Tel *****80 See pagr 4 ii 1 'V.r'V-\f- v 4¥M'a,v .•-..>• .A V -.i •—> .-..frJXJ*-*-. -Zf •?.•'<*» I~> <s wj* <£-*1 S£ < $*?> St.-' > l :v. -fix f.
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    • 3 1 See Page 5
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  • REVIEWS
    • 853 2 THE race for the White House is now a neck-and-neck affair. Earlier in the campaign it looked as if Jimmy Carter would have a runaway victory, but President Ford has made a remarkable comeback. In July he trailed Carter by 33 points in the opinion
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    • 855 2 MUSIC 1 TO BE sure, there are not a few bone lazy Olivers among your lot. Taking to Beethoven's Moonlight Sonata, never having enough of the first movement, is easy. So is persisting in staying uninformed listeners of the
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    • 592 2  -  ART By CONSTANCE SHEARES ONE of the delights about art is that it has no demonstrable practical use. As for "understanding", even artists themselves have often confessed that they did not entirely comprehend their own creations, so that it is probably presumptuous to believe
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    • 625 2  -  FILMS VINCENT CANBY NYT AFTER two months in virtual seclusion, Sherlock Holmes summons his old friend and biographer. Dr. Watson to his rooms in Baker Street. Dr. Watson, a settled family man that he has become, is shocked by both the manner and the
      NYT  -  625 words
    • 1062 2  -  BOOKS By ANATOLE BROYARD NYT The Long Tunnel: A Coal Miner's journal. By Meade Arble. 239 pages. Athneum. US$B.95 THE space you are working in is about one metre high. The 30cm inches at the botton is icy water, but
      NYT  -  1,062 words
    • 676 3  -  CBOOKS By MICHAEL LAFFERTY Financial Times Accounting Values and Inflation by W.T. Baxter. .McGraw-Hill. Price £5.95 FEW SUBJECTS have received such public airing in the past few years as the problem of inflation accounting. Indeed the whole area has become so complicated that
      Financial Times  -  676 words
    • Article, Illustration
      1417 3  -  By JOHN CURRAN These seven days are unnecessarily from the same SUNDAY: The pleasure is over; all the anticipation, the excitement, the thrill at the prospect of seeing my own words in print, in a newspaper. All that is past, the price must now be paid, pen
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  • Page 2 Advertisements
    • 111 2 'dfi? liii'j 7' y t .a *3? if and when you have everything... you will want a CX 1 *******—M. ■PPT V A 2 i? m t I*l- is 4 sn W n* pp; iSi > -'w L •x :^o' *V jV** J- --'4* 1 > ij§*! *7 4EEB§S^^ v-
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  • Page 2 Miscellaneous
    • 20 2 instow: D:cicen2 VLL L£_T HP*ve IT BS SOOi PNS »'Mo U)itM \t... I*3 (s^i c-> f <j^. oaweN u>iLLTv4fvr 6e°)
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    • 275 2 SINGAPORE 5 3.00 PM Opening Announcements followed by Valar Pirai (Tamil) 3.30 Diary Of Events (Tamil) 335 General Hospital 4.15 Basic Ecology "Hedgerows"** 4.25 Intermission 6.05 Opening Announcements followed by Cool McCool 6.30 News in brief 41 6.35 Leave It To Beaver "Cleaning Up Beaver" 7.05 Waterworld 0 7.30 News
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  • Page 3 Advertisements
    • 626 3 Multi-Corporation is the appointed sole agent for ITM/ ITS Italtractor SpA, one of the world's largest manufacturers of tractor undercarriage parts. This is because we belong to this region's largest and most dependable distributors of heavy equipment, The Astra Group. Read on to find how MultiCorporation and this ITM/ITS franchise
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  • Page 3 Miscellaneous
    • 631 3 JUMBO TWO-IN-ONE CROSSWORD CRYPTIC PUSSLE ACROSS x It's useless I'll be captured by the scoundrel! (7) 9 Composed or amassed from various sources (9) 13 Possibly a picture book (5) 14 Greets one. but is very cold (5) 15 The characteristic goldtaker for information given? (7) 16 Girl it would
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  • 1616 4 WHERE CAN BRITAIN HOPE FOR RELIEF FROM ITS PAYMENT PROBLEMS? Financial Times MR JAMES CALLAGHAN. the Prime Minister, in his Panorama interview last week spoke of the burdens imposed on the British economy by defence and the sterling balances. He
    Financial Times  -  1,616 words
  • 547 4 The last time the UK took an initiative to stabilise the sterling balances was in 1968. when it negotiated a 92 billion facility with 12 major central banks and the Bank for International Settlements in Basle, in order to be
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  • 853 4  -  JAPAN leads the Far East in an extremely aggressive exporting policy which is beginning to hurt its European trading partners, particularly Britain. But the only legal barricade against too many imports is the anti-dumping law and that won't always stand up. from LONDON LORNE BARLING
    Financial Times  -  853 words
  • 1203 4  -  By DAVID BELL Financial Times ON THE night when President Gerald Ford finally beat Mr Ronald Reagan for the presidential nomination in Kansas City this summer, there was more than six hours of discussion among his staff about who should be his candidate for
    Financial Times  -  1,203 words
  • Page 4 Advertisements
    • 200 4 Texas Instruments latest professional calculators o u Tr 30 An economical maths tool with powerful capabilities moat student will not outgrow even in their future career. 48 functions with 15 sets of parentheses Scientific notation 10" to 10 Automative on/off feature r mm r» Iculators 20 user memories lus an
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  • Page 4 Miscellaneous
    • 203 4 Crossword solutions CRYPTIC SOLUTION EASY SOLUTION ACROSS. 8, V-rll-ain. ACROSS. 8, Illicit. 9, 9, Collected. 13, Album. 14, Fortunate. 13, Haven. 14, Hails. 15, Trait-or. 16. M- Alein. 15, Treadle. 16, Par-Iran-da. 17, S-L-ide. 18, snip. 17, Audit. 18, Water. \4ac-on. 20, D'l-tto. 22, D- 20. Darts. 22, Allot#. 23.
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  • OVERSEAS
    • 1491 5  -  By THOMAS MULLANEY NYT NEW YORK: Some rather dramatic developments have been unfolding recently on the international and the domestic scenes, but most of them have escaped adequate attention because the nation has been distracted by the presidential election campaign, dull and unilluminating
      NYT  -  1,491 words
    • 54 5 AP DUBAI, Sun. A security conference of eight states bordering the Persian Gulf will be staged in Oman on Nov 25, it was announced here on Friday. The conference, at the Foreign Minister level, will bring together Iran, Iraq. Saudi Arabia. Kuwait, Bahrain. Qatar. Oman and
      AP  -  54 words
    • 1262 5 THE Economic Report released with the Malaysian budget last Friday paints a generally rosy picture for Malaysia's main raw materials. It also emphasises the Government's intention to boost the marketing side of local commodities in the country rather than allow so much of this
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    • 191 5 UPI BI'ENOS AIRES. Sun. The Argentine Government has ordered the sixth de facto devaluation of the peso in seven months this one approximately 4.8 per cent by establishing new im-port-export exchange rates and moving closer to a free exchange rate system. The new "mix"
      UPI  -  191 words
    • 110 5 ISRAELI POUND TOO Reuter TEL AVIV, Sun. Israel last night devalued its currency by nearly two per cent to H. 62 Israeli pounds to the United States dollar, a Finance Ministry spokesman said. This was the third devaluation since last July when Israel severed the exclusive tie of the pound
      Reuter  -  110 words
    • 428 5 NYT NEW YORK, Sun. With a price increase by the Organisation of Petroleum Exporting Countries almost certain on Jan 1. the multinational oil companies eager to protect themselves at least temporarily are scrambling to build up Inventories at today's lower prices. During the week
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    • 469 5 AP UNITED NATIONS. Sun Oil-rich nations are crying foul over a UN proposal to raise by as much as four times their assessed contributions to the UN budget. Ambassador Jamil M. Baroody of Saudi Arabia, facing a whopping four-fold increase, says the
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    • 287 5 UPI THE HAGUE, Sun. European Economic Community Foreign Ministers agreed yesterday to establish a common 320 km fishing zone, starting the first of 1977. They also gave the green light to the Common Market's Executive Commission to begin negotiations with third countries to
      UPI  -  287 words
  • Page 5 Advertisements
    • 236 5 NOTICES NOTICE OF MEETING Take notice that an Extraordinary General Meeting of the members of MALAYSIAN CONTAINERS (1974) BERHAD will be held at Hotel Jaya Puri, No: 2. Jalan Barat, Petaling Jaya on Wednesday. 24th November 1976 at 12.00 noon for the purpose of considering and if thought fit passing
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    • 239 5 Ms Personal Secretary how to become more efficient —with less effort The picture shows our beautiful Facit 1820 electric typewriter. It may look like other typewriters, but it isn't. It has a twin tabulator system which includes a programmable memory that remembers your standard typing layouts. It works like this
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  • COMPANY NEWS
    • 1426 6 THREE new Malaysian co npanies will come to life this week. Their business, however, has been going on since early this century and Involves some of the biggest tin mining operations in Vialaysla. Tronoh Mines, Sungei Besi, and Ayer Hitam are not new names to
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    • 99 6 REPLYING to a Kuala Lumpur Stock Exchange query on its interim profit setback of 38.4 per cent, Harper Gilfillan says the reduction was largely due to an increase in expenditure. For the first six months ended June 30, 1976. group pre-tax profit fell from M 54.34 million to
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    • 57 6 THE Malaysian Capital Issues Committee has informed United Overseas Bank that it has no objection to the listing of 47.06 rpillion new $1 UOB shares on the Kuala Lumpur Stock Exchange, according to the bank. The new shares arise from OUB's recent scrip issue of one-for 10 and
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    • 89 6 Turnover OCTOBER turnover (in '000) on Stock Exchange of Singapore. Unit* Value Industries: Finance: Hotels: Properties: Loans: Oil Pal tis: Tins. Rubbers: G. Total: 35,795 -$59,135 8.835 -$41,186 485 $747 5,596 $6,642 561 $583 147 $157 50 $152 407 $645 51,876—$109,247 MOST ACTIVE OCTOBER STOCKS: Haw Par
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    • 145 6 BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 4. 1971 100) 1*7*7* Week vndl&4 HIGH u>w iktxwthial gboit n/w Wll POIMT ntAxux mil •i a AUTowonvi JCi w IT»H -tM WO >6 IK M tUfKS OtCL'KAMCB All 4l 14 11 «l.» FD*A*CE AND TAUsma III 4i CMJCMJL'ALS. iwm ll* Jfi
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    • COMPANY MEETINGS
    • 116 6 PACIFIC Development Credit has told the Kuala Lumpur Stock Exchange that its sale of the Batu Ferrlnghl land in Penang for M 57.2 million was negotiated at "arm's length." On the question of real property gains tax. Pacific says if it should be liable for any tax
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    • 355 6 Current Ex Date Total for Total for payment Date payable the year previous year Bukit Rati! 10ft Oct 8 Oct 30 16% 20% H.Gilfillan 5%+ Oct. 12 Oct. 30 5%+ 15% Malayan Credit 7.5% Sept. 8 Oct 30 7.5% 10% S'pore Finance 12% Oct. 13 Oct 30 12%
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    • INTERNATIONAL COMPANY NEWS
      • 487 6 Reuter DETROIT, Sun. The strong recovery at Ford Motor in the current year has been severely hit by the recent United Auto Workers Union strike at Its plants. The strike reduced third quarter net earnings by US$l.5O per share to only 45 cents against 60 cents
        Reuter  -  487 words
      • 258 6 Reuter WELLINGTON, Sun. Hunt International Petroleum Co (HIPCO) said it suspended its New Zealand drilling programme on October 28 because of the government's proposed three NZ dollars per barrel levy. After a meeting with Prime Minister Robert Muldoon, HIPCO officials said I the levv amounted to
        Reuter  -  258 words
      • 60 6 BRISBANE, Sun. Pioneer Sugar Mills said its one-for-four rights issue of 2.9 million shares was not fully taken up by stockholders. The issue was fully underwritten by Ord B.T. and is now fully subscribed. Market sources said the underwriters are understood to be placing 1.2 million shares with
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      • 62 6 MUNICH, Sun. Siemens will Introduce short-time working for most of the 9,000 workers at the Kemnath and Kiel plants in its medical engineering sector, a company spokesman said. The sector employs around 11,000 workers. The reduction between December and March is necessary because of a sharp real fall in
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      • 83 6 NEW YORK, Sun. Third quarter net profit at Standard Oil (Ohio) rose by 7.9 per cent to U5535.3 million ($32.7 million) on revenue up from $641.1 million to $643.8 million. For the nine months, net profit came to $96.2 million ($93 million) on revenue of $2.1 billion
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      • 67 6 Reuter NEW YORK, Sun. Honda Motor plans an offering of 2.3 million depository shares, representing 23 million shares of its common stock, in the form of American and European depository receipts, Merrill Lynch, Pierce Fenner and Smith said as lead underwriter. Honda said it intends to apply to
        Reuter  -  67 words
      • 64 6 Reuter TOKYO, Sun. Fujitsu said it and its 30 per cent owned US affiliate, Amdahl Corp, plan to set up a Joint venture, Amdahl International, in Europe to market Amdahl's largescale electronic computer systems. The new company will be equally owned by Fujitsu and Amdahl, but final
        Reuter  -  64 words
      • 39 6 Reuter DETROIT, Sun. Mitsubishi Motor said in a statement issued by Chrysler Corp here it "has no plans in any manner or form to have Chrysler Corp build and/or distribute Mitsubishi cars anywhere within the European Community." Reuter.
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      • 51 6 NEW YORK, Sun. Chrysler Corp said its board at a meeting here declared a quarterly dividend of 15 US cents per share on common shares, payable Dec 10, to holders of record Nov 10. The company restored its divident payments with a payment of 15 cents a share in
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      • 134 6 SYDNEY, Sun. Escalating costs sent net profit at Robe River plunging 46 per cent at A 52.2 million ($4.06 million) for the year ended June 30, 1976. Other factors adversely affecting results were Increased depreciation charges and the liability method of tax effect accounting which reduced profit
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      • 148 6 Reuter HONGKONG, Sun. The current year at Orient I Overseas Container (Holdings) is turning out to be a very bullish one for the company, with interim consolidated net profit taking a 180 per cent Jump to HK562.14 million (22.17 million) for the period ended June 30. 1976.
        Reuter  -  148 words
      • 100 6 ADELAIDE, Sun. Santos said its Namur Number one well in the Cooper Basin flowed gas at 13.9 million cubic feet well through a two-inch nipple at 70 psi. The flow was measured in a drill stem test over the interval 5,448 to 5,465 feet, and the
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      • 73 6 Reuter BARTLESVILLE, OKLA, Sun.— Phillips Petroleum said its Phillips Australian Oil unit plans to assign its entire interest in Papua New Guinea to Esso Papua New Guinea Inc. Phillips said completion of the assignment is pending approval by the government of Papua New Guinea. The transaction involves
        Reuter  -  73 words
      • 129 6 UPI TOKYO, Sun. Japanese stainless steel pipe mills would study curbs on their exports to the United States, a major stainless pipe mill said. Officials of the Nippon Yakin Kogyo said Japanese stainless steel pipe makers have already curbed their exports to the United States voluntarily and
        UPI  -  129 words
      • 28 6 Reuter NEW YORK, Sun. Mobil Corp said it raised its quarterly dividend to 95 cents from 85 cents, payable December 10, for holders on record November 8.
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  • Page 6 Advertisements
    • 141 6 found only in the Penguins in Business and Management Understanding Company Financial Statements: J. Parker Organization Theory: D. Pugh Business Strategy: H. Ansoff Corporate Strategy: H. Ansoff Exploration in Management: W. Brown Modern Management Methods: E. Dale Offensive Marketing: J. Davidson Business of Management: R. Falk Modern Business Enterprise: M.
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  • WALL STREET AND OTHER OVERSEAS MARKETS
    • 1036 7 NEW YORK: A more active demand for glamours stocks and for certain Issues with favourable corporate news enabled the stock market to score a fairly broad advance last Friday. Analysts said part of the activity may have reflected a shifting of Investment portfolios tn the last weekend before
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    • 304 7 AMSTERDAM: The market closed slightly lower on balance in quiet trading last Friday. The rally in sterling boosted Royal Dutch and Unilever, which together with Philip* firmed among Dutch Internationals. Akzo and Hoogoven* fell. Elsewhere insurances were unchanged to firmer. Industrials and trading stocks were mixed. Banks and transports
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    • 412 7 JOHANNESBURG: Oold shares last Friday moved off the top towards the close following overseas bullion indications In quiet trade ahead of the weekend,dealers said. Vaal Reefs shed 25 cents to 1550 and Loraine 10 to 130. P Steyn remained firm at 870, 45 cents up. Financial minings were unchanged
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    • 259 7 FRANKFURT: The market closed slightly lower in thin trading last Friday depressed by Wall Street s weakness and confused foreign exchange conditions, with foreign Investors continuing to unload German shares In favour of mark denominated bonds, dealers said. Most leading shares dropped up to one mark, though Karstadt lost
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    • 166 7 MILAN: The market closed mixed in quieter trading last Friday. Pirelli E C, ana Olivetti ordinary gained in mixed Industrials. Pirelli Spa also recovered recent losses following its first half report but Snia Viscosa, Anic and Fiat were unchanged and Montedison was marginally lower. Assicuraiioni Generali lost ground In
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    • 317 7 TORONTO: A late session surge last Friday saw the Industrial and western oil Indices climb more than a point by the close in very light trading on the Toronto Stock Exchange Advances held a three-to-two edge over declines. MacMillan Bloedel, which reported a third quarter earnings Increase, jumped 1
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    • 361 7 PARIS: The market was higher in all sectors In active trading, last Friday, with the strongest rises In constructions and foodstuffs. There were no specific reasons for the rise, wlch most-dealers attributed to a technical rally from recent lows. Geaerale Occidentale rose slightly following its higher dividend, and Saiat-Gobaiat
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    • 427 7 TOKYO: The market rose In active trading last Saturday, with Investors welcoming the postponement of the ruling Liberal Democratic Party's special convention dealers said. The Dow Jones average rose 12 34 to 4.658 61. volume was 140 million shares The new Index closed at 351 68. up 1.50 Motors
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    • 285 7 ZURICH: The market closed slightly easier In continued quiet activity last Friday. Leading banks were little changed. In narrowly mixed flnanclals Bally Bearer and Landia Improved, while Oerlikoaßuehrie Registered, Juvena and Elektro-Watt eased Among Industrials moderate losses were featured by CibaGeigy participation certificates and by bearer shares of Nestle,
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    • 195 7 BRUSSELS: Prices last Friday closed mixed to lower In quiet trading ahead of the long holiday weekend followed by the US elections on Tuesday as operators held back uncertain of the effect the election will have on Wall Street, dealers said. Belgium stocks showed mixed although Vieille Montagne showed
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    • 88 7 FINANCIAL TIMES INDUSTRIALS 276.7 Thursday 270.5 Week ago 289 7 TIN 123.07 Thursday 121.49 Week ago 117 40 RUBBERS 507.57 Thursday 511.80 Week ago 499 82 OILS 352.51 Thursday 345.59 Week ago 343.52 DOW JONES AVERAGE INDUSTRIALS Friday 964.83 Thursday 952.63 Week ago 938 75 LONDON DOLLAR PREMIUM Friday
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  • 1102 7 On October 29 PRICES on the Chicago Board Options Exchange advanced as gainers topped losers, 393 to 69 last Friday. Turnover approximated 68,267 contracts, down from 77,355 contracts on Thursday. OPTipN JAN APL JLY STOCK Alcoa 45 UNTRD NOL NOL 55 Alcoa SO 5 7/8 UNTRD UNTRD
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  • 194 7 NYT THE stock market registered a sharp advance last week with the Dow Jones industrial average gaining 26.18 points to close at 964.93. Turnover on the New York Stock Exchange, however, contracted to 78.81 million shares from 83.62 million shares in the preceding week. Analysts attributed
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  • Loans
    • 134 7 Reuter STOCKHOLM, Sun. Sweden's forest industries are considering seeking a US$lOO million to $150 million foreign loan through a consortium of Swedish banks, the Association of Swedish Pulp and Paper Producers said. But a spokesman denied reports in the Swedish financial press that the Association itself plans
      Reuter  -  134 words
    • 79 7 Reuter NEW YORK, Sun. The Commonwealth of Australia plans a public offering for US$2OO million of bonds to be sold In the US, Morgan Stanley, chief underwriter, said. The offering, will consist of $125 million principal amount of seven year bonds due 1983 and $75 million principal amount of
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    • 99 7 Reuter NEW YORK, Sun. A US$5OO million, four-year, Eurocurrency loan agreement for the Republic of Argentina was signed here between Banca Central de Republica Argentina, the Republic of Argentina and a 21-member group of international banks. The agreement represents the largest single credit ever arranged for Argentina, accordlng to
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    • 85 7 Reuter PARIS, Sun. Nippon Fudosan Bank's proposed offering on the international capital market has been raised to US$25 million of notes due 1981 from $20 million originally planned, Morgan Stanley International said. The issue will carry an eight per cent per coupon instead of the 8-1/4 per cent
      Reuter  -  85 words
    • 79 7 Reuter ST. LOUIS, Sun. Southwestern Bell Telephone said it Dlans to sell up to US$25O million of debt securities on or about March 29 The company said the issue is subject to the approval of the Missouri Public Service Commission and proceeds from the proposed sale will
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    • 72 7 MUNICH.Sun The World Bank is raising 200 million marks through a nine-year, 8'« per cent private placement at par with the Bayerische Landesbank Girozentrale, a spokesman for the Bavarian Bank said. The bank will try to place as much of the 200 million marks as possible with Bavaria's
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    • 62 7 Reuter LONDON, Sun. A Eurocurrency facility of between US$lOO million and 150 million for the Republic of South Africa is in preparation and should be ready In the very near future, banking sources said. They said only a very few banks, which are not exclusively US banks, are
      Reuter  -  62 words
    • 77 7 Reuter FRANKFURT, Sun The Greek Central Bank is negotiating to raise a medium term loan of about US$l2O million from a group of three or four US banks, the governor of the National Bank of Greece, Mr Angelos Angelopoulos said. The National Bank Is Greece's biggest
      Reuter  -  77 words
    • 38 7 Reuter ZURICH, Sun The European Steel and Coal Community plans shortly to float an 80 million franc 15 year loan on the Swiss market, primary market sources said. Coupon and issue price are not yet fixed. Reuter
      Reuter  -  38 words
    • 27 7 Reuter ZURICH, Sun The ASEA 80 million franc s*/* per cent 15 year, Swiss loan was priced at 99.5 per cent, primary market sources said. Reuter
      Reuter  -  27 words
  • Page 7 Advertisements
    • 350 7 flMti Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the pasar malam! Because Penguin books are rather m special. They are mind-stimulating, deeply researched, entertaining in a wholesome way, highly educational J I fll quite unlike the
      350 words

  • COMMODITY REPORTS AND PRICES
    • 165 8 LONDON. Sat. The terminal closed officially steady on Friday afternoon. Prices were mostly 1.05p per kilo lower (Dec at 64.00p buyer) to I.oop higher (Apl/ Jne 78 at 80.75p seller). Volume was ten lots of five tonnes and 309 lots of 15 tonnes. ClF's closed steady but quiet
      165 words
    • 178 8 THE Straits tin price in Penang on Saturday rose $1.37'/2 to close the week at 1192.37 per picul on an official offering up 25 tonnes to 280 tonnes. In LONDON on Friday afternoon, Tin lost £10 for Cash and about £25 for Three Months. Small scale currency covering
      178 words
    • 121 8 THE following Palm Oil prices were quoted In London on Friday The prices are cif Rotterdam and are quoted in US dollars per long ton unless otherwise stated Friday Prev. Malaysian 5% ffa bulk 453slr 4 55slr Jan unch 435 slr SumalraS* unch 470N„ v 470 sir 445
      121 words
    • 235 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk $72 sellers, old drum 77 sellers, new drum $82 sellers Copra: Mixed (loose) UK/Cont $45 buyers. Pepper: Muntok ASTA white f o b. 100% NLW $322'* sellers. Sarawak white fob 96% NLW $305 sellers, Sarawak
      235 words
    • 476 8 Source: Swiss Bank Corp, Zurich. THE Singapore gold market on Saturday, held quietly steady following London's afternoon fixing on Friday of US $123.15 and comparable levels overnight In New York. The kilo bar was traded here between 559,765 and 559.290 while for London delivery the metal passed a little
      Source: Swiss Bank Corp, Zurich.  -  476 words
    • 223 8 LONDON, Sat. Copper wire bars on Friday afternoon, were €1 Down for Cash and fully €5.50 lower for Three Months. The market forged ahead on covering operations prompted by the downturn in sterling and Three Months traded up to the day's high of €820 before final business at €819
      223 words
    • 157 8 LONDON, Sat. Silver was one penny higher to 0.5p lower on Friday afternoon. Values were marked sharply higher on covering against a further decline In sterling with Three Months trading up to 284.0p before profit taking pared gains. Sales were light at 41 lots. In NEW YORK, on Friday,
      157 words
    • 39 8 LONDON, Sat. Zinc fell by €3.50 for Cash and €4.50 for Three Months on Friday afternoon. Lightweight currency covering deve- loped around €399 for Three Months on a thin market. Sales of 1475 tonnes were swollen by carries.
      39 words
    • 38 8 LONDON Sat. Lead declined by £2.50 for Cash and £3.50 for Three Months on Friday afternoon. The market was virtually neglected although Three Months was steady at the 1299 per tonne level. Sales were only 100 tonnes.
      38 words
    • 263 8 LONDON, Sat. Futures continued to ease on Friday afternoon In line with a similar trend in New York but the decline was halted when covering interest was prompted by the erratic movements of sterling. A steady trend persisted from mid-afternoon onwards despite market reports of a comparatively cheap white
      263 words
    • 293 8 LONDON, Sat. Robusta futures closed irregular on Friday afternoon, to £15 above Thursday's close. Turnover was 2,348 lots including 46 options. Near Nov which earlier lost around 134 at the opening closed at £2125/2140 byrs/slrs compared to L' 2123/2125 buyers/sirs overnight. The position traded up to a high of
      293 words
    • 107 8 BANGKOK, Sat. Indicative prices quoted for rice on Saturday were: US dollars per tonnes fob basis Bangkok. All Unchanged. In HONGKONG on Saturday The market was steady with prices up 20 cents to $5.00. The day's turnover totalled 214 tons. Arrival was from Thais 415 tons. Thai white: 100
      107 words
    • 121 8 Reuter MOSCOW, Sun. Soviet Ministry in charge of grain from farms, Mr. Grigory S. Zolutukhin said this year's Soviet grain harvest looked like being the largest in Soviet history according to figures now coming In. He was speaking on the second day of a sesson
      Reuter  -  121 words
    • 81 8 Reuter WASHINGTON, Sun. US Imports of palm oil during September rose to 64,823,778 lbs from 55,122,110 lbs the previous month, but were down from the 84,240,622 lbs Imported In September, 1975, Census Bureau figures show. The bulk of the Imports emanated from Malaysia (59.12 million
      Reuter  -  81 words
  • MONEY AND EXCHANGES
    • 201 8 STERLING once again was given a severe battering when it took a steep plunge from last week's level of U551.6450-80 to $1.5925-40 against the US dollar In nervous and hectic trading. The trend of the British unit was erratic In an extremely volatile market. Reports that a US$l.5O sterling
      201 words
    • 269 8 Asian rates RATES were stead v over the week with small movements. Interest centred mainly in three and six months. Illinois brought their prime down to 6 Vi, but this had little effect on the rates. Short dates were steady, easing slightly by 1/16 ASIAN currency averate deposit! rates for
      269 words
    • 126 8 Euro rates LONDON Sat. Period eurodollar deposits edged around 1/16 Tower during Friday afternoon in slack conditions In reaction to lower US prime rates, dealers said. Concentration on nervous foreign exchange markets, usual light interest ahead of the week-end and same day dealing today and on Monday because of Tuesday's
      126 words
    • 260 8 A sustained surplus of money In the system produced sharp declines In yields on all short term money market securities. Discount houses enjoyed a plentiful supply of funds throughout the week and, though Call money remained at 3-1/8 per cent, large blocks of overnight funds were taken down
      260 words
    • 62 8 THE market continued to be flush with Overnight funds traded at an average level of 214 2 throughout the week after closing on Monday at 2% V*. 1 month eased by a further to close at 3% Vfc, 2 months by 5/16 to close at 3 11/16 9/16
      62 words
    • 48 8 FOR the week ended Saturday, Oct 30 the range of call rates received from Short Deposits (M) Berhad was as follows: GENERAL FUNDS: 3 per cent to 4% per cent. Movements of funds totalled $456 million. BANK FUND: 2*« per cent to 4 per cent.
      48 words
    • 37 8 Minimum lending rates (in *sM: Ipm 7 A F»«C.M» 7 1 Mrs*: 7% 7 i lywiina teisr: 1 Mntaiwi 7 Mitw So* 7 lint Niiik 1 <X2C 7 OUt 7 f">—r M uci r* 7H •JOB 1
      37 words
    • 386 8 LONDON, Sat. Heavy selling out of New York pushed sterling down against all major currencies in late trading on Friday afternoon virtually halving its early 4*4 cent gain. The pound closed at U551.5860/5900 against a mid-day peak of $1.6120/50 and the overnight $1.5685/5705. Dealers related the early rise to
      386 words
    • 231 8 NEW YORK, Friday Sterling retreated sharply from its early high in erratic trading today, but finished almost 1-1/2 cents above overnight levels. At the close sterling was quoted at U551.5850/60 compared wit! $1.5711/25 overnight, but its opening high of $I.<. '5/60 The afternoon easing was attributed to mounting
      231 words
    • 386 8 IN ZURICH over the week, sterling, lost ground heavily, triggered by a Sunday Times report that the IMF will grant the stand-by credit to UK only under the condition that sterling depreciates to the US$l.5O level against the dollar. On Thursday, it stood at a record low of $1.5650,
      386 words
    • 32 8 FRANKFURT exchanges closing quotes on Oct 29: US 2.3980/90 Can 2.4745/65 UK 3.823/830 Neth 95.58/63 Switz 98.70/76 Italy 2.785/790 France 48.05/10 Japan 0.8160/90 Belg Com 6.510/515 Belg Fin 6.42/43 Norw 45.40/46
      32 words
  • 585 8 Reuter COMMODITY prices were generally marked up In very quiet trading in the Singapore produce market last week. Overseas demand continued to be good but local dealer's hands were tied for want of fresh supplies. The strongest impetus to prices was provided by the
    Reuter  -  585 words
  • Page 8 Advertisements
    • 139 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)
      139 words

  • 555 9 ANNE-MARK DISCUSSIONS NOW A BOOK MONDAY SPOBTS UPI LONDON. Sunday Here is Princess Anne speaking of the possibility that competition judges in equestrian events might be biased in her favour because she is the daughter of a Queen: I don't believe the judges think. "Oh.
    UPI  -  555 words
  • 411 9 JAPANESE SPORTS ROUNDUP Reuter TOKYO. Sunday A big Japanese women's golf tournament beginning tomorrow has made a major breakthrough in golf by becoming the first event outside the United States to be designated as an official LPGA (Ladies Professional Golf Association) tournament. "This is the first time in
    Reuter  -  411 words
  • 224 9 Hanayashiki Gold Club in Hyogo prefecture, western Japan, will carry a first prize money of US$l5,OOO ($36,750). It will be the first time that the LPGA will officially include the tournament's prizes in its moneywinning list, sponsors said. Another international seven-day event starting tomorrow
    224 words
  • 432 9  -  SOCCER By JULIE WELCH LONDON. Sunday Switching from Leeds to Bristol has obviously done nothing to dampen Norman Hunter's exuberance. Old "demond boots" (he's been on offer so long I nearly took out a mortgage myself on this interestingly rugged 1943 property surrounded by acres of
    432 words
  • 410 9 GOLF PUTRA Cup players Lenny Nonls and Talib Haron were big disappointments at the Singapore Golf Association's trials at the SICC New Course yesterday. Lenny's two-round total of 166 (81-85) placed him joined 10th with two others while Talib finished 14th with an aggregate of 169. The
    410 words
  • 494 9 TENNIS AP NE.V YORK, Sunday Millionaire sportsman La nar Hunt has grabbed off Jimmy Connors and ha miered in a stake at Caesar's Palace in Las Vegas in the first telling shots of what looms as a war for cascading tennis dollars. 'No doubt about it,
    AP  -  494 words
  • 434 9 BOXING JOHN Conteh, World Boxing Council's lightheavyweight champion, is not just a boxer he's very special athlete. This accolade came from the man he recently beat at Copenhagen Alvaro Lopez. And it'll come from all his opponents. In fact at Copenhagen, his superb physical fitness more than
    434 words
  • Page 9 Advertisements
    • 193 9 SPECIALIST: SILKSCRitN MINTING ON SELF-ADHESIVf LAULS. PLASTIC PEAK-CAPS SATIN-RIBSONS CAR ROAD TAX HOLDERS ft ITC. TV, 1 i A J f f t Confidence 2 y The name of the gome is pleasure golfing with Confidence! And why. Unlike conventional drivers, in Confidence Solid State woods, the weight is cast
      193 words
    • 191 9 TAMA In time to come you'll agree with what we say here !Ns •v--i *9^ KP ••-rINSIDE Inside each Tanita is a unique high-performance transformer that guarantees you many years of trouble-free operation. This is not surprising as Tanita was the first to introduce the battery lighter in Japan. OUTSIDE
      191 words

  • 490 10 A TUG-OF-WAR contest is still being fought between certain stock-brokers and the Stock Exchange of Singapore (SES). The tussle revolves around whether a further cut in government bond brokerage for parcels below $1 million will in fact give life to a moribund
    490 words
  • 647 10 ROLLEI Singapore has a productivity scheme which ensures optimum output without jeopardising the health of its workers. And the scheme which was adopted from the company's operating centre in West Germany and modified to suit local conditions has achieved a fair measure of success in
    647 words
  • 39 10 UPI DACCA, Sun. Apparently in appreciation of Bangladesh's growing pro-Arab foreign policy, Saudi Arabia has pledged a hefty US$2l7 million (***** million) in soft loans and grants in the next two years to this impoverished country. UPI
    UPI  -  39 words
  • 460 10 THE public transport user in Singapore does not know how fortunate he is, judging from the screeds that get written to the newspapers about both the buses and the taxis. And even though the service he gets may not rate 100 per
    460 words
  • 338 10 Reuter GENEVA, Sun. Mr. Ivor Richard, British chairman of the Conference on Rhodesia's future, today steps up his behind-the-scenes efforts to narrow the deep divisions between white-minority government Premier lan Smith and black nationalist leaders. Diplomatic sources said that probably his biggest task
    Reuter  -  338 words
  • 147 10 UPI LIMA, Sun Chile pulled out of the six-member Andean Pact Common Market Treaty Organisation yesterday, in a move seen as inevitable for the last three months. The withdrawal left Bolivia, Colombia, Ecuador, Peru and Venezuela in the Organisation. The decision came at a
    UPI  -  147 words
  • 337 10 BANGKOK. Sun. Communist insurgents attacked a police post, ambushed Government reinforcements and shot down a helicopter, leaving eight Thai policemen killed and an unknown number wounded in the Loei province, 400 km north of here, military authorities said here today. Insurgent casualties if
    337 words
  • 46 10 TOKYO. Sun. A delegation of the Deutsche Bank AG led by Mr. F.H. Ulrich. president of the board of directors, has met in Peking with Mr. Chiao Pei-Hsin. chairman of the board of the Bank of China, a Peking broadcast said today.
    46 words
  • 506 10 ARRIVALS Service Local Operator Number Time From JAL JL712 1000 HLP SIA SQ209 1010 HLP CPA CX710 1030 HLP GIA GA980 1030 HLP THAI TG423 1035 BKK GIA GA908 1100 MES PAL PR501 1115 MNL SAS SK097 1140 CPH/NDH/ BKK SIA SQ201 1200 HLP SIA SQ240 1205
    506 words
  • 268 10 Reuter UPI LONDON, Sun. The Sunday Times said today that the United States and West Germany were discussing a plan to provide considerable extra funds for Britain In addition to an International Monetary Fund (IMF) stand-by credit. But the newspaper said the package "is not
    Reuter; UPI  -  268 words
  • 105 10 SANDVIK AB of Sweden, parent of Sandvik Singapore, has won a first prize for marketing and distribution in the PA-Vision European Management Awards contest. The contest, organised by the Swiss business journal Vision, attracts companies from all over Europe. Sandvik AB's coromant division won the
    105 words
  • Page 10 Advertisements
    • 127 10 Aare/ Where the byword is service. Fast, efficient, smiling service. A helping hand at your elbow, a warm spontaneous smile with your drink, genuine concern for your comfort and ease. Naturally we've facilities of international standard: luxurious rooms, convention facilities, speciality restaurants serving first-class Continental, Japanese and Chinese cuisine, a
      127 words
    • 19 10 in/IGHT HOLIDAY/ The Executive's Travel Agent Suite 102 Cathay Building Mount Sophia Singapore 9 Telephone *****2. vi AT V
      19 words
    • 221 10 iif V J m i >- i j k <?. 8 5 7/4 if <4? savours of Olde England 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.
      221 words