The Business Times, 15 November 1976

Total Pages: 10
1 10 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) 1455/76 MONDAY, NOVEMBER 15, 1976 50 CENTS
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  • NEWS IN BRIEF
    • 81 1 Reuter TEL AVIV, Sun. Prime Minister Yitzhak Rabin said today Israel was "more than ready" to respond to Egyptian President Anwar Sadat's call for a peace agreement but would not accept "an Arafat state" next door. Addressing a visiting delegation of US and Canadian fund-raisers, Mr.
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    • 75 1 THE Customs and Excise Department stated in its 1975 annual report that revenue from petroleum products rose to $121,309,812 during the year a three per cent increase over the previous year. The report commented: "The sluggish sales of cars and the introduction of the Area Licence Fee
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    • 70 1 Reuter GENEVA, Sun. Britain is now prepared to name tentative dates for legal independence in Rhodesia to prise its slow-motion conference here on the breakaway colony's future out of deadlock, conference sources said. The negotiations, which bring together four black Nationalist delegations and one white Rhodesian
      Reuter  -  70 words
    • 94 1 AP BELGRADE, Sun. Western diplomats say Soviet leader Leonid Brezhnev will try for more influence in Yugoslavia's foreign policy when he meets with President Tito this week. In return, Mr. Brezhnev is Expected to promise to keep hands off this country's internal affairs. Mr. Brezhnev will
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    • 73 1 Reuter CARACAS, Sun. President Carlos Andres Perez, an increasingly influential spokesman for the Third World in international forums, tomorrow begins the most extensive foreign tour ever undertaken by a Venezuelan head of state. President Perez will be meeting officials in four Western European countries Italy,
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    • 61 1 Reuter LISBON, Sun. The rebellious Leftwing of Portugal's ruling Socialist party was eased further out of the leadership today with the announcement of a new party secretariat. The 15-man body consists entirely of supporters of Prime Minister Mario Soares and excludes Mr. Aires Rodrigues, who led a
      Reuter  -  61 words
    • 40 1 Reuter HONGKONG, Sun. A delegation of the Chinese National People's Congress (NPC), led by vicechairman Ulanfu of the NPC standing committee, left Peking today for visits to Iran and Kuwait, the New China News Agency reported. Reuter.
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    • 96 1 UPI BEIRUT, Sun. The Syrian-Dominated Arab peacekeeping force delayed its planned thrust into the heart of Beirut today pending consultations to pave the way for a peaceful entry into the capital scheduled to start within the next 24 hours, Leftist and Rightist sources said. The sources said
      UPI  -  96 words
  • 126 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 Turnover Price* High Low Haw Par Inter'000 Nov 12
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  • LOCAL STOCK INDICES
    • 80 1 Nov 8 Nov 9 Nov 10 Nov 11 Nov 12 ++B.T. Index: 249.86 248.69 249.46 247.31 250.30 •Industrials: 249.86 248.99 249.02 248.49 249 28 ©Finance: 447.63 445.92 446.01 445 38 446 28 ••Hotels: 153.03 152.77 151.61 151.61 151.74 •Properties: 139.84 139.57 139.29 138.79 138.25 +Tlns: 95.66 95 64 95
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    • 83 1 Nov 8 Nov 9 Nov 10 Nov 11 Nov 12 ++B.T. Index: 187.19 185.57 186.75 184.62 189.61 •Industrials: 271.57 271.12 271.86 271.41 273.01 Finance: 384 55 382 63 384.24 383.23 385.25 ••Hotels: 109 20 169.20 169.20 169.20 169.27 •Properties: 140 93 139.40 139.21 139.16 139.40 +Tlns: 94.21 94.24 93.78
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  • 936 1  -  THE MANUFACTURING SECTOR By COLIN CHEE WHAT is troubling the Singapore Government these days must be the prospect of continuing slow growth in the manufacturing sector over the next few years. This part of the economy appears to have passed its growth apex. Prime Minister
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  • 559 1 AP Reuter ONE after another, members of the Organisation of Petroleum Exporting Countries (Opec), both Arab and non-Arab, launched an offensive against the Western industrialised world over the weekend on the eve of the Opec Economic Commission meeting which opens in Vienna today.
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  • 136 1 UPI LONDON, Sun. Philip, has stirred up controversy and infuriated leftwing parliamentarians by implying in an article that Britain's economic and industrial decline is linked directly to spending on the welfare state. He said that Britain's welfare system is "a protection against failure and exploitation,"and went
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  • 362 1 A DETAILED leasing proposal has been put forward by the manufacturers of the AngloFrench Concorde supersonic Jetliner, In an attempt to give the troubled aircraft Its best chance to expand its usage by international airlines. First mooted to Japan Air Lines some five and a
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  • 366 1 CURRENT speculation down Shenton Way suggests that Singapore International Merchant Bankers Ltd may be soon playing a prominent role in the International loan syndication market. This derives from the announcement that Schroders Ltd one of England's largest (and among its most blue-blooded) merchant banking houses
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  • 70 1 UPI TOKYO, Sun. The Bank of Japan is considering buying (old from the International Monetary Fund (IMF) next year, Japanese newspapers reported today. The newspaper said Central Bank officials consider Japan's present gold reserves too small compared with its total foreign exchange holdings. Japan now holds
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  • 145 1 PENANG, Sun. The Shipyard Workers Union has appealed to the Prime Minister not to allow foreign concerns to tender for the construction of boats in the country. "Our local shipbuilding industry is capable of meeting the needs of the Malayan Government, and
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  • 121 1 THE Deputy Chairman of Board of Commissioners of Currency has issued a reminder to the public that the currency notes' and coins issued by the Board of Commissioners of Currency, Malaya British Borneo, would be redeemable into Singapore currency until Dec 31, 1976. After that
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  • Page 1 Advertisements
    • 65 1 oo *x Wiyfoone MAF A lending hand when Wavfoong Mortgage yuu iitrtru and Finance (Singapore) Limited It lllOSt Shaw 1 louse Ground Floor. 334 Orchard Road Singapore 9. Tel: *****7. INSIDE Leisure/TV 6 Radio Leisure/ Crossword Features Overseas news/ International Co. news P2 1 Local Co news/ Weekly p. share
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    • 116 1 International trade? ACBC makes it easier. ACBC provides all the services required for successful trading on the international scene. From opening letters of credit, to export financing, to foreign exchange. Making it easier with a simple direct service. Not only to take care of the routine but indispensable day-to-day banking
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    • 3 1 SEE PAGE 2
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    • 142 1 D 3 pscc rAt pour h'Vrwn® Only 2.5 mm thick. And automatic. GOLDEN SHADOW 18 ct wt»t« goto Ret *****0'041> With a 48-hour power reserve. Over 150 precision parts, that make up the movement, ingeniously fitted into a space no larger than a silver coin. The Golden Shadow. The world's
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  • Page 1 Miscellaneous
    • 54 1 The Weather WEATHER report for 24 hours prior to 7.30 p.m. on Nov. 15 at Singapore airport. Maximum temperature 30.9° C Associated humidity 63 pc Minimum temperature 23.7° C Associated humidity 100 pc Hours of sunshine 8.85 Rainfall in millimetres NIL Total rainfall for the month 179.0 Total rainy days
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  • 725 2 THE Economic Commission of the Organisation of Petroleum Exporting Countries (Opec) meets In Vienna today. At the top of Its agenda Is the question of a rise In the price of oil. The Commission will discuss the demands of the 13 Opec members they range from a 10
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  • REVIEWS
    • 1010 2 By CONSTANCE SHEARES: Curator of the National Museum in Singapore C ART THE current sculpture exhibition In the National Museum Art Gallery presents a selection of recent works by sculptors working In Singapore today. It contains works by 28 artists selected from 142 works by 31 artists.
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    • 887 2 t MUSIC 1 WHATEVER the avant gardlsts may say, respectable symphonies do not consort with witches. Anyhow, last week's picking on Berlioz's Symphonle Fantastlque was not Intended as an Introduction to the symphony. Hang the respectable symphony for the while, but did you
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    • 282 3 fBOOKSI Financial Times INFLATION Management, 100 Practical Techniques for Business and Industry. By Howe C. Stldger and Ruth W. Stldger, John Wiley and Sons, £11. The techniques which are discussed aim to help businessmen to live with Inflation and maintain profitability in spite of it.
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    • Article, Illustration
      1638 3  -  By CHRISTOPHER HUME Mr Hume U with Aatley and Pearce (Pte) Ltd. MONDAY: The foreign exchange market got off to a brisk start, which is a good portent for the week. Hongkong had a sound market going when we started, which is always a help, and it
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    • 680 3  -  By GEOFFREY OWEN Financial Times Nine Investments abroad and their impact at home by Robert B. Stobaugh. Harvard University Press, £8.20 The International Operation* of National Firms, a study of foreign investment by Stephen Herbert Hymer. MIT Press, £8.50 THE FIRST BOOK. "Nine
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  • Page 2 Advertisements
    • 633 2 just published SUHI usr IBM UIHCINT SWIPHE ma the authoritative oil directory with over 600 pages covering oil gas exploration and producing companies, drilling contractors, suppliers and service firms in Singapore an indispensable guide for professionals in the industry, potential new investors, overseas buyers and others seeking to identify market
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  • Page 2 Miscellaneous
    • 323 2 RADIO TV SINGAPORE 5 3.00 PM. Opening Announcements followed by Valar Pirai (Tamil) (r) 3.30 Diary Of Events (Tamil) 335 General Hospital 4.15 Basic Ecology "Sand-Dunes" (Last Episode) 4.25 Intermission 6.00 Opening Announcements followed by Accent On Youth (r) 630 News In Brief 6.35 December Bride "The Martian Show" 7.05
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  • Page 3 Advertisements
    • 90 3 Persian Gulf, Europe USA jlr M Tf'•* 4 Departing every Tuesday &Thursday Other PIA Destinations :Abudhabi Amsterdam Athens Baghdad* Bahrain• Bombay• Bangkok Cairo ••Colombo Copenhagen Dacca Damascus Delhi Dhahran Doha Dubai Frankfurt Istanbul Jeddah Karachi Kuala Lumpur Kuwait Lahore London Manila Muscat Nairobi New York Paris Peking Quetta Rawalpindi (Islamabad)
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    • 502 3 Ice to water in 40 minutes under ordinary glass Ice to water in 1 hour 25 minutes under ordinary glass with Scotchtint > I V m Without Scotchtint m.+ With Scotchtint Here's your proof: 3 M Scotchtint reduces the sun's heat by more than 75/£ We put 3M's Scotchtint Sun
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  • Page 3 Miscellaneous
    • 578 3 Jumbo two-in-one crossword a CRYPTIC PUZZLE ACROSS 39 9 Again, here, we act as agents(9) to "Vegetable, man." I splutter (9) 12 with a blow (4) 1 13 Ti the fish into the sh- 2 14 Soldier who'll make a mistake in getting Into 3 line (7) 15 Took some
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  • 1529 4  -  TODAY IS THE DEADLINE FOR ACCORD ON PRODUCTION SHARING. DILIP MUKERJEE AND ABDUL KADIR JASIN LOOK AT THE PETROLEUM INDUSTRY IN MALAYSIA, THE ISSUES SEPARATING THE OIL MEN AND THE GOVERNMENT,.AND THE IMPLICATIONS ABDUL KADIR JASIN DILIP MUKERJEE TODAY is D-day for oil
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  • 1462 4  -  From DR LEE SOO ANN, Associate Professor of Economics at the University of Singapore who is now on Sabbatical leave at Harvard. DR LEE SOO ANN NOW that Mr. Jimmy Carter is elected President, we are likely to hear more reform: If the US economy continues to
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  • Page 4 Advertisements
    • 51 4 fK-:" Hi -i !N V B?. -v > -v and when you have everything... you will want aCX 2400 u <«• mm 1? i r r < 4 fi* A E* ar>v J?s*f i r ■> ft*? fer t ms I. S\ V tlvely ■n 2 i i 9, UENG
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  • Page 4 Miscellaneous
    • 200 4 Crossword solutions CRYPTIC SOLUTION ACROSS. 9, Re-pre-sent. 10, Art-l-choke. 12, Clip. 13, S-llng-S. 14, T-err-ier, 15, Lightened, 17, Broken arm 18, Singles. 19. Tiered. 20, T-W-ln. 23, P-rot-ester. 25, Cash-books, 26, Oust. 27, Slacks, 29, Head off. 32, Rearrange, 34, Con-verses. 36, Tirades, 36, Attest (a test), 37, Shin. 38,
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  • OVERSEAS
    • 337 5 Reuter GENEVA, Sun. The United States, France, Holland and Belgium were violating internationally agreed rules to expand their exports, separate panels of world trade experts reported to the General Agreement on Tariffs and Trade (Gatt), council. The panels were Investigating accusations by France,
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    • 26 5 Reuter WASHINGTON, Sun. Army Secretary Martin Hoffmann said Chrysler Corp, has been selected for its new XM-1 tank programme worth US$4.9 (5512.2 billion), billion.
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    • 603 5 TWO-YEAR DEFICIT TO EXCEED $100b NYT WASHINGTON, Sun. The Ford Administration, In Its first preliminary look at the budget for the coming 1978 fiscal year, estimated that government spending would approach or exceed the US$45O billion (S$ 1,103 billion) mark, even if the
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    • 560 5 Reuter LONDON, Sun. New Zealand's latest Eurodollar borrowing is expected to prove a sensitive indicator of Eurobond market sentiment when It begins trading on Tuesday, bond market sources said. The issue, a US$lOO million (***** million) a bond without a sinking fund
      Reuter  -  560 words
    • 395 5 Reuter PARIS, Sun. The group of 10 deputies will probably hold a meeting here early In December to discuss activation of the general arrangement to borrow (GAB), in relation to Britain's proposed application for US$3.9 billion (559.5 billion), from the IMF, international
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    • 132 5 Reuter LIVERPOOL, Sun. The management of Ford's British subsidiary today warned its 12,000 workers at its Hale wood plant here that continued low production could have serious loafterm consequencies. This thinly-veiled hint that jobs could b« endangered was mad* la a personal letter to each
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    • 35 5 Reuter TAIPEH. Sun. Taiwan's textile exports are expected to reach a record US$2.2 billion (555.5 billion), this year, up 40 per cent on last year's $1.6 billion the Central News Agency reported Reuter.
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    • 186 5 Reuter CAIRO, Sun. French Prime Minister Raymond Barre and Egyptian Premier Mamdouah Salem are expected to discuss French help In setting up Egypt's own arms Industry when they hold their next round of official talks tomorrow, Informed sources said. Egypt has already bought
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    • 27 5 Reuter NEW YORK., Sun. Citibank NA said it was holding its floating prime lending rate unchanged at 6Vi per cent for the coming week. Reuter.
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    • 359 5 UPI TOKYO, Sun. Prime Minister Takeo Miki. kicking off his general election campaign with a tour of Japan's fourth largest city of Nagoya. said yesterday he wants to stay in power by leading his ruling Liberal Democratic Party (LDP) to victory with
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    • 87 5 Reuter ROME, Sun. Ente Nazionale Idrocarburi (ENI) said it has concluded particularly favourable terms with oil suppliers for payment up to 120 days, to spread currency purchases over as long a period as possible. The state-owned company and its subsidiaries account for around half Italy's oil
      Reuter  -  87 words
  • INTERNATIONAL COMPANY NEWS
    • 271 5 INEW YORK, Bun. For some time now the nation's major banks have had their share of unexpected troubles. Beset with troubled real estate Investment trust (Relt) loans and having a number of their lesser developed countries' loans Ibrought Into question, many recently also have had to
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    • 92 5 LONDON, Sun. British Leyland chairman. Sir Richard Dobson, said manhours lost through strikes in Leyland car divisions so far this year have been less than half the total In the same period of 1975. He told the UK Institute of Directors Convention if the company can halve the
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    • 81 5 Reuter TOKYO. Sun. Mitsui said It has contracted to sell about 4,000 tonnes of sulphur to China. This Is Mltsul's first sulphur export deal with China, which imports about 400,000 to 500,000 tonnes a year, mostly from Canada, It said. Mitsui said the sulphur will be supplied by
      Reuter  -  81 words
    • 67 5 Reuter FRAMINGHAM, Mass., Sun. Dennlson Manufacturing said It and Xerox Corp reached a patent, antitrust suit settlement under which Xerox will make a once only US$2 million payment to Dennlson Manufacturing. Also. Dennison saia. under the agreement the companies will enter into a cross-license agreement related to the patent
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    • 61 5 MOUNTAIN VIEW. Calif., Sun Fairchild Camera and Instrument Corp said in reply to an inquiry it will seek listing for its common stock on the London Stock Exchange, probably some time in the first half of 1977. A company spokesman said Fairchild was not seeking listing on any other
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    • 206 5 Reuter MANILA. Sun A 1.6 billion peso plant being built by Kawasaki Steel Corp subsidiary Philippine Sinter Corp In the Southern Philippines is 90 per cent complete and will start operations early next year, the official Philippines news agency said. It quoteo tne company s
      Reuter  -  206 words
    • 94 5 TOKYO, Sun Though sales slipped three per cent to 100.08 billion yen (103.09 billion yen), Sumitomo Heavy Industries has been able to raise after-tax profit by 35.4 per cent to 2.79 billion yen (2.06 billion yen) for the first six months ended Sept 30, 1976. The Interim dividend
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    • 149 5 Reuter SYDNEY, Sun. Robe River said it is considering expanding iron ore operations capacity by four million tonnes of coarse ore a year to 19.8 million, which would necessitate the raising of substantial loans. It said that at June 30 measured and indicated reserves In
      Reuter  -  149 words
    • 61 5 Reuter MONTVALE, N.J., Sun. Mercedes-Benz of North America said It Is recalling 16.672 of 1972 through 1974 cars for possible steering defects. The company said the steering box fastening bolts on the 350SL and 450SL and 450SE and 450SEL models could loosen or break. Mercedes said there have been
      Reuter  -  61 words
    • 98 5 Reuter VANCOUVER, Sun A spokesman for the British Columbia Superintendent of Brokers said the Superintendent has accepted a prospectus from the Options Clearing Corp, which will permit the trading of OCC call options In the province. The spokesman said the prospectus was originally for put and call options
      Reuter  -  98 words
    • 190 5 Reuter DUSSELDORF, Sun Consolidated turnover at August Thyssen-Huette fell from 21.4 billion marks to 20.4 billion marks for the year ended Sept 30, 1976. The company said in a letter to shareholders it achieved a satisfactory profit In the 1975/76 year and described the outlook for
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    • 195 5 FT LONDON, Sun. Sir Kenneth Keith, one of the City's leading merchant bankers, has relinquished his appointment as chief executive of the Hill Samuel .Group, but is to continue as chairman. The position of group chief executive has been taken by Sir Robert Clark, chairman
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    • 51 5 LONDON, Sun. British Petroleum said Its offer for Century Oils group has lapsed. BP said It was informed that Its offer for Century Oils has been referred to the Monopolies Commission and Its bid for the group therefore lapses In accordance with the conditions set out in the
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  • Page 5 Advertisements
    • 137 5 FOR SALE USED GENERATING SETS ENGLISH ELECTRIC MODEL 12CSV 1000 KW, 6600 VOLTS, 3 PHASE, 50 CYCLES, 750 RPM, COMPLETE WITH SWITCH PANEL, THREE UNITS AVAILABLE FOR FURTHER DETAILS WRITE TO: CHUAN HUAT ENGINEERING (PTE.) LTD. 23, TYRWHITT ROAD, SINGAPORE 8 GENERAL MANAGER Multinational firm engaged in design and fabrication
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    • 159 5 Go with Sintat lomacy I %7 Jc > 1 I r -^4 w 1 Rnna < r ■Kf I mm K V W 3 Sintat combines cordiality, punctuality, good business sense with hospitality, professionalism. Service means we diplomacy with economy. And, what are YOUR considerations organise everything conceivable for the
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  • COMPANY NEWS
    • 424 6 HAW Par Brothers International will not pay a dividend on its ordinary shares this year to avoid unnecessary complications arising from the conversion of Haw Par (London) convertible shares into ordinary shares. Recommendation of a dividend is usually made after the financial year end and
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    • 133 6 MALAKOFF Bhd, which commenced business on Jan 2 as the Malayslanised company of Malakoff Rubber Estates, has declared an interim dividend of five per cent, payable on Dec 20 to shareholders registered on Dec 1. This fulfils the promise It gave shareholders last year at the time
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    • Company meetings
    • 286 6 FOR the year ending Dec 31, 1976, trading profits at South Malaysia Industries Is expected to double to M 52.4 million. This is the Indication Rven in the company's repto a Kuala Lumpur Stock Exchange query on Its recent scrip issue of one-for-two. In its
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    • 107 6 ASSOCIATED Plastics Industries has secured a Ms 2 million order from a European company and delivery will be made over the first five months of 1977. A company spokesman says it Is hopeful of getting a repeat order. API also says It is processing an earlier
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    • 225 6 ROBINSON'S has said that It regularly disclosed the payments received In settlement of its claims relating to the fire which destroyed its Raffles Place store in 1972. Replying to the Stock Exchange of Singapore, it says that "particulars of amounts received under the company's consequential
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    • 171 6 BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 4. 1971 100) IJ7V 1*76 Weeks' Action HIGH LOW INDUSTRIAL GROUP VI1 12/11 POINT CHANGE 198 51 91.57 Automotive 184 15 182 23 1.92 485 55 195 99 Banks. Insurance, finance and 419 34 411.19 -8.15 trustees 161.45 94 30 Chemicals, rubber
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    • 336 6 Current Ex Date Total for Total for payment Date payable the year prev ious year Sthn. Kinta 50% Oct. 7 Nov. 16 75% 69% U.O.B. 5%+ Nov. 1 Nov. 16 5%+ 12.5% Esso Ord. 5%TE+ Oct. 13 Nov. 17 4%TE+ 18%TE Emo Pref. 3%TE+ Oct. 13 Nov. 17
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  • 2161 6 SECTION ONE INDUSTRIALS Gr't Gr's 1976 Last or <Uv Dir yld P/E Vol Week High Low Company Sato oa weak e'w C9M) High Low 250 170 Acma 170 -6 12 ON 1.1 7.0 8.5 4 173 170 206 172 Alcom 206 20.0 1.3 9.7 13.2 100 60
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  • Page 6 Advertisements
    • 123 6 Professional Examination Courses Institute of Administrative Management Institute of Bankers Inst, of Chartered Secretaries and Administrators Institute of Statisticians London Chamber of Commerce and Industry Business studies courses Economics Commerce Administrative Practice Secretarial Company Secretarial Practice General Principles of English Law Company Law Labour Law Mercantile Law Sales of Goods
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  • WALL STREET AND OTHER OVERSEAS MARKETS
    • 1001 7 NEW YORK: The stock market last Friday surrendered some of Thursday's gains to close lower for the fourth time last week In extremely slow trading. Analysts said the market resumed Its defensive mood, interrupted by a technical rebound on Thursday, amid slugSih signals from the economy. ley cited
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    • 484 7 TOKYO: The market closed slightly lower last Saturday" as the exchange tightened controls on margin trading In some stocks, dealers said. The Dow Jones average lost 6 99 to close at 4,558.40 with volumfc at 120 million shares The New index closed at 348.93, down 0.19 Small and medium
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    • 285 7 AMSTERDAM market firmed last Friday In quiet conditions as Royal Dutch led Dutch internationals 2.50 guilders higher to more than recover Thursday's slight fall after announcing Its third quarter results, dealers said. Elsewhere, most shares were firmer, although HV among plantations fell 1.50 guilders. Rolinco rose 1.50 after announcing
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    • 221 7 ZURICH: The market rose slightly last Friday, dealers said. In flnanclals Bally Bearer firmed, while Its registered stock fell and trading activity In these shares slowed after recent heavy turnover. Juvena Bearer eased again on sustained selling. In a moderately active foreign sector, dollar stocks generally closed slightly higher,
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    • 308 7 TORONTO: Manufacturing Issues firmed while share prices for industrials and mines sagged at the close of very light trading on the Toronto Stock Exchange last Friday. Aabeatoa Corp dropped to 27, Noranda A was off V 4 at 33, Falconbridfe Nickel lost 1 to 34 W, and Deniton declined
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    • 378 7 PARIS: The market last.Friday was firmer with shares buoyed by the franc's steadiness In the foreign exchange market and bv the quarter point cut In call money to 10 5/16 per cent, dealers said. Leading gains Included a five per cent advance by Pernod Ricard, whose planned takeover of
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    • 409 7 JOHANNESBUO: Gold shares last Friday were auletly steady at higher levels following overseas bullion Indications with dealers hesitant to take post- tlons before the weekend, dealers said Heavyweights gained around 25 cents and lightweight stocks were about five cents higher. Financial minings were generally unchanged in moderate trade and
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    • 1235 7 On November 12 PRICES on the Chicago Board Options Exchange were lower last Friday, with declines topping advances 296 to 137. Turnover was 56,868 contracts compared with Thursday's 65,678. OPTION JAN APL JLY STOCK Alcoa 45 6 7/8 NOL NOL 51 5/8 Alcoa SO 2 7/8 UNTRD
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    • 269 7 FRANKFURT: Most shares lost ground in very quiet trading, with few orders, and attention focussing on the bond market last Friday, market sources said. Prices for public loans firmed sharply by up to one mark on favourable market reaction to Thursday's results of the government's treasury bond tender. The
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    • 156 7 MILAN: The market last Friday closed generally higher In (airly active trading, dealers said. Insurances, Financials and Industrial leaders rote on a generally better demand favoured by steady mutual funds Interest. Flat, both PtraOi, MoataAra and Sal VtaeoM were all higher but Aafc was marginally lower against the trend.
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    • 13 7 BRUSSELS: The stock market was closed last Friday for a national holiday.
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    • 87 7 FINANCIAL TIMES INDUSTRIALS Friday 308 Thursday 299.4 Week ago 308 .7 TIN Friday 124.88 Thursday 125.35 Week ago 117.01 RUBBERS Friday 4 ®®-23 Thursday Week ago 478 .00 OILS Friday 368.15 Thursday 362.96 Week ago 368.70 DOW JONES AVERAGE INDUSTRIALS Friday 027.69 Thursday 931.43 Week ago 943.07 LONDON DOLLAR
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  • 266 7 NYT THE slowing pace of newcar sales proved a damper for the New York stock market last week as the Dow Jones Industrial average retreated 15.38 points to close at 927.69. This came on the heels of the previous week's decline of 21.86 points, when Wall
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  • 83 7 Reuter MILAN. Sun. Montefibre said it will again be unable to meet salary payment deadlines this month if the government does not stand by promises to accelerate payment of authorised credits to the firm. Last montn the Montedison subsidiary said it would only be able to pay
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  • Loans
    • 177 7 OTTAWA, Sun. Finance Minister Donald Mac Donald said the Government will issue Cs7oo million In new bonds. The bonds will be dated Dec 1 with three maturities, BV4 per cent due Feb 1, 1979, BVi per cent due Dec 15, 1981, and per cent due
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    • 70 7 LIMA, Sun. Peru has secured US$33O million In foreign loans to meet balance of payments deficits, president of the Central Reserve Bank. Mr. Carlos Santlsteban said. He told reporters US banks are putting up $210 million with $30 million from Canadian banks and $90 million from Europe. Mr. Santlsteban
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    • 88 7 NEW YORK, Sun. Mexico will sign a US$BOO million two-tranche loan with a group of 19 international banks in Mexico City on Tuesday, banking sources here said. One $400 million tranche is for five years at 1% per cent over London Eurodollar interbank offered rates and the other for
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    • 68 7 WASHINGTON, Sun. The Treasury Department said It will auction US$2.5 billion of two-year notes on Nov 18 to refund $1.37 billion of maturing Issues and to raise $1.13 billion of new cash. Coupon and price of the new notes will be announced at the auction and the notes
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    • 72 7 LONDON, Sun A substantial part of the US$75 million five-year note Issue by the South of Scotland Electricity Board has been pre-placed through the management group. First Boston (Europe) said as joint lead manager. Proceeds from the issue, which is expected to carry an 8 1/4 per cent coupon,
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    • 56 7 DETROIT, Sun. Chrysler Financial Corp, a Chrysler Corp subsidiary, said it filed with the Securities and Exchange Commission for the sale of US$lOO million of notes to mature in 1986. The offering is expected to be made on Dec 1 through underwriters led by Merrill Lynch Pierce Fenner and
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    • 59 7 PARIS, Sun. The French Telecommunications Authority will float an 800 million franc, 11 per cent, 15 year bond Issue on the domestic capital market tomorrow, the official Journal said. Primary bond market sources said the loan will be Issued at par with a gross redemption yield of 10.98 per
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  • Page 7 Advertisements
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  • COMMODITY REPORTS AND PRICES
    • 293 8 LONDON, Sat. Terminal closed officially uncertain on Friday, after steady mostly 0.15 to 0.50p up from Thursday s close, volume Included 33 lots of five tonnes and 208 lots of 15 tonnes. There were four further call options posted comprising one Jly/Sep 1977 Premium 13.50p basis 3.90p, one
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    • 141 8 THE Straits tin price in Penang yesterday closed the week up $4.50 to $1221.00 per picul on an official offering down 21 tonnes to 164 tonnes. In LONDON, on Friday afternoon, tin on the day rose by about £17 for Cash and £11 for Three Months in both
      141 words
    • 127 8 THE following Palm OH were quoted In London on Friday. The price are elf Rotterdam and are quoted In US dollars per long ton unless otherwise stated Friday Prev. Malaysian 5% ffa bulk Dec unch 465 sir Jan 455 sir 460 sir Feb 455 sir Sumat ra 5%
      127 words
    • 230 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY. Coconut Oil: Bulk $72Vi sellers, old drum $77 w sellers, new drum $82* sellers. Copra: Mixed (loose) UK/Cont. $45 buyers. Pepper: Muntok ASTA white f.o.b. 100% NLW $320 sellers. Sarawak white fob 96% NLW $302* sellers. Sarawak
      230 words
    • 546 8 Source: Singmas Source: Swiss Bank Corp., Zurich. AFTER a very active week, the Singapore gold market was quietly steady on Saturday morning with the London delivery price holding at U*****.00. The kllobar was again neglected. The Singapore Chinese Oold and Silver Merchants Association yesterday quoted the retail price of
      Source: Singmas; Source: Swiss Bank Corp., Zurich.  -  546 words
    • 46 8 LONDON, Sat. Zinc lost mostly £1 per tonne on Friday afternoon. This metal attracted further covering Interest against small scale physical activity which lifted Three Months up to a high on the kerb of £384 per tonne. Sales of 1050 tonnes were swollen by carries.
      46 words
    • 32 8 LONDON, Sat, Lead lost £2.50 for Cash and £0.50 for Three Months on Friday afternoon. The market was virtually neglected at around end morning closing levels. Only 125 tonnes were traded.
      32 words
    • 268 8 LONDON, Sat. Copper wire bars on the day lost £8 for cash and £10 for Three Months on Friday afternoon. The market sagged at the outset on liquidation and light stoploss selling prompted by the movement at New York, although the lower levels found preweekend covering support. Three Months
      268 words
    • 139 8 LONDON. Sat. Silver closed marginally higher than overnight levels on Friday, but below the day's highest trading range with Spot quoted around 274.50/ 275.50p and Three Months at 284.70/ 285.709 p. Trading was moderately quiet ahead of the weekend and the price slipped back towards the close as Interest
      139 words
    • 218 8 LONDON, Sat. Futures closed the day £4.20 to £0.20 down in sales of 4723 lots. Prices drifted slightly lower under booksquarlng and profit taking which was encouraged when the post holiday opening In New York did not fully match gains recorded here. There was fairly good support on any
      218 words
    • 637 8 COMMODITY trading In marked time for the better Singapore last week failed we€ to keep pace with the Two reasons were gWen foreign markets where for this sluggish state of the prices fluctuated wildly In local market. One is that fairly active trading. the general
      637 words
    • 165 8 LONDON, Sat. Robusta from the limit gain on early futures closed Irregular, £6 afternoon profit-taking, to £12 up from Thursday's which cleaned up the buyers close with 4947 lots traded pool, but hardened again on Including 56 call options. late weekend shortcoverlng The terminal reversed its and booksquarlng. earlier
      165 words
    • 115 8 CHICAGO, Sat.— Soybean futures finished a light trade with prices 3-ft cents a bushel higher to 8-% cents lower. Early sains were achieved on speculative buying generated by belief that the market was oversold on Thursday In Its response to the losses In corn futures. Spread buving of nearbys
      115 words
    • 66 8 CHICAGO Sat. Wheat futures closed on Friday with prices 1-Vi cent a bushel higher to three cents lower. The trade was light and mixed, with shortcoverlng accounting for some support. Nearbys gained and deferreds lost on spreading which was said to Include rolling of short hedges forward from the
      66 words
    • 39 8 HONGKONG, Sat. The market was quiet with prices unquoted. The day's turnover totalled 40 tons, comprising Thais 12 tons, Kwangtungs 18 tons and Australia 10 tons. Arrival was from Kwangtungs 300 tons. In Bangkok, rice prices were unchanged.
      39 words
    • MONEY AND EXCHANGES
      • 161 8 THE British pound, did not come under any kind of severe pressure as sterling's performance was very unpredictable and uncertain when It opened at US$l.6lBO/ 1.6210 In dollar terms firming slightly to $1.6340/80 as continuing optimism that some form of International aid followed by planned an IMF loan was
        161 words
      • 288 8 Asian rate THE Asian Dollar rates remained virtually unchanged throughout the week though It closed with a firmer undertone. The day to day funds stayed at 5 4 7/8 and the threes and sixes closed at 5 1/2 3/8 and 5 15/16 13/16. The money supply figures of the States
        288 words
      • 242 8 Source: Commercial Discount Co. THE easier market trend and liquid position was reflected by the lowering of prime rates by most banks. The Discount Houses' call rate was moved down to 3 per cent on Friday whilst overnight rates taken In during the week ranged from 2 3
        Source: Commercial Discount Co.  -  242 words
      • 57 8 THE week saw the rates easing further by 1/8, 3/16, 1/4 In the 1, 2 and 3 months respectively to close at 37/16 5/16, 3 13/16 11/16 and 3 15/16 on Friday. Overnight funds were traded on an average of 3K 1/8 level, the highest on Tuesday at
        57 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 i% per cent Movements of funds totalled 8377 million. BANK FUND: 3 per cent to 5V4 per cent.
        48 words
      • 286 8 LONDON, Sat. Sterling closed at its best rate of the day as good buying Interest from New York took It higher against the dollar after continental markets had closed, dealers said. The pound finished at U551.6270 90, 0.35 cents higher on the overnight, after trading in the $1.6210 1
        286 words
      • 450 8 In ZURICH over the week, sterling fluctuated within a narrow range, but on balance It weakened somewhat. Reports about a i higher than planned budget deficit In fiscal 1977/78 (£ll billion Instead of £9 billion) tended to weaken the pound. On the other hand the 1.5 per cent rise
        450 words
      • 59 8 Minimum tending rates (in ACBC 6* Algemene Bank 7 Bangkok Bank 7* Bank of America Bank of China.. 7 v, Bank of Tokyo 7 Bank Negara Indonesia 7 y, Chartered Bank Chase Manhattan e*. DBS «ib Citibank 6^ HKSBC 7 Indosuez 7 Malayan Banking 6* Mitsui Bank OCBC gi, OUB
        59 words
      • 222 8 NEW YORK, Sat. The dollar closed on Friday, unchanged from Its close on Wednesday following the Veterans Day holiday on Thursday, while the Canadian Dollar partly recovered earlier losses, dealers said. Attention In the quiet market focussed here on the Canadian dollar which closed lower at 102.27/29 cents
        222 words
      • 130 8 Euro rates LONDON, Sat. Eurodollar deposits closed on Friday, little changed from opening steady levels after minor fluctuations earlier, dealers said. Trading was light. Day to day rates reversed an earlier easier trend under the lead of the weekend. Shortcoverlng In this position saw the rate close at two per
        130 words
      • 32 8 Frankfurt closing exchanges quoted on Nov 12. US 2.4130/40 Can 2.4655/65 UK 3.915/922 Neth 95.55/61 Swltz 98.86/92 Italy 2.781/790 France 48.47/52 Japan 0.8185/8215 Belg con 6.514/519 Belg fin 6.47/48 Norw 45.63/69
        32 words
  • Page 8 Advertisements
    • 443 8 You have only one face make the best of it Advice from Business Times. A If your corporate face isn t as good as it could be Business Times can help change it for the better. Few people place their trust in a total stranger. This has to be one
      443 words

  • 805 9  -  'THERE'S EVERY REASON TO FEEL OUR MISGIVINGS WERE JUSTIFIED' By BRIAN GLANVILLE The Sunday Times LONDON, Sunday SO MANY worrying and controversial things have occurred In the past few months, that the question of whether FIFA Is equipped to run world football Is
    The Sunday Times  -  805 words
  • 1116 9  - Hunt's finest hour sweet and sour... Returning from Mount Fuji and the consecration of a new world champion, Master James Hunt Superstar and now National Hero, KEITH BOTSFORD considers profit, loss and the might-have-been of motor racing's most controversial season. And also the less happy consequences of being a winner.
    UPI radiopix.  -  1,116 words
  • 686 9 JAPANESE SPORTS ROUNDUP TOKYO, Sun. Major International sport events are scheduled In Japan with Montreal Olympic medallists participating while the year's last grand sumo (wrestling) tournament will open next Sunday In Kyushu. Two gymnastic stars, Nadla Comanecl of Rumania and the Soviet Union's Nelll Kim, who performed
    686 words
  • 331 9 SOCCER AP LONDON, Sunday Newly •transferred Peter Cormack helped his new team, Bristol City, to a valuable 1-0 away win over Tottenham Hotspur yesterday a success that could keep Bristol in the First Divison of the English soccer League at the end of the season. Seven
    AP  -  331 words
  • 450 9 GOLF LENNY Nonls, who topped last month's Putra Cup trials, has been dropped from the Singapore team to meet Malaysia in the international golf match at the Royal Selangor Golf Club on Friday and Saturday. The 10 players selected are Douglas Ooi, Ashok Malik, Wong Weng Hong, Richard
    450 words
  • 247 9 AMERICAN FOOTBALL A revitalised Ollera side scored a stunning 14-6 upset victory over the tough Vikings in their American Football League match at Ulu Pandan last weekend. The victory marked the first win of the season for the Oilers who are languishing at the bottom of the
    247 words
  • 979 9 RACING AP NEW YORK, Sunday WtlUe Shoemaker has ridden 7,151 horses to victories for more than US$6O million ($147 million) In prize money a seemingly unreachable all-time record but he still lives in the shadow of the one that got away. "Most people remember
    AP  -  979 words
  • Page 9 Advertisements
    • 144 9 GET TO WHERE THE ACTION 15... is setting the pace for a new ball game. Proven the longest hitting clubs by top professionals HONMA* cuts down the yardage from tee to green. Precision built to give you that solid feeling and perfect control of your golf shots HONMA* ensures better
      144 words

  • 319 10 PAKISTAN International Airlines has defied the general downward trend of the airline industry over the last two years to bring In record profits. PlA's financial results for the year ended June 30, 1976, show an operating profit of Rs. 5.5 million. In a continuing trend
    319 words
  • 202 10 UPI TOKYO, Sun. Negotiations on a joint JapaneseIranian project to build an oil refinery in Iran have broken down. A Japanese economic newspaper reported yesterday. The newspaper, Nihon Keizai Shimbun, said both sides failed to reach agree-" ment on when the proposed plant should
    UPI  -  202 words
  • 156 10 Reuter UPI TEL AVIV. Sun. Foreign Minister Yigal Allon said yesterday 1977 could mark the start of renewed diplomatic efforts to solve the Middle East conflict. "I believe 1977 will open up prospects for diplomatic movement toward a settlement," Mr. Allon said in an interview
    Reuter; UPI  -  156 words
  • 217 10 THE National Productivity Board will intensify its promotion efforts in the Immediate future, to get the productivity message across more effectively to management and workers. This is the centra) theme in the statement by the chairman, Mr. G.C. Thio, in the NPB's 1975/1976 annual
    217 words
  • 127 10 SEIKO, the watchmakers, will set up a display on the technology behind the quartz crystal timing system at the $15 million Singapore Science Centre in Jurong. This results from discussions held between Mr. Reijlro Hattori, executive vicepresident of Seiko, and Dr. Toh Chin Chye,
    127 words
  • 123 10 THE Hogg Robinson group, insurance and reinsurance brokers in London, has been awarded the National Marketing Award for 1976 for companies with an annual turnover of more than £10 million (SJ4O million). The award is made annually by the Institute of Marketing. The group
    123 words
  • 126 10 THE tide of enquiries from small local businesses that swept across the Development Bank of Singapore following the announcement of the Small Industries Finance Scheme earlier this month has abated, but has not come to a stop. To date, Business Times understands, 10 firm applications
    126 words
  • 421 10 WILL SEPARATIST GROUP COME IN? UPI MONTREAL, Sun. The voters of Quebec go to the polls tomorrow to elect a new government In a struggle for power that could unleash separatist forces agitating for Quebec's Independence from Canada. A large turnout Is expected
    UPI  -  421 words
  • 507 10 KUALA LUMPUR, Sun. A local company. East West Insurance Rerhad, will take over the staff and renewal business of China Insurance from Dec 1. 1976. The deal was negotiated between China Insurance manager, Datuk F.Z. Yu, and East West chairman, Mr. S.F. Leow,
    507 words
  • 64 10 THE winding up of Sun Kong Pte. Ltd., which has an outstanding debt of $160,353 and Sealand Foods with debts of $69,681.95, will be heard this week. The petitions to wind up Kho Lip Kwee Holdings (with debts of $26,718.96), Continents Maritime (with outstanding debts of $56,383.70)
    64 words
  • 68 10 Reuter AMMAN. Sun. Jordan, one of the few Arab" countries never to have discovered large quantities of oil, is to make yet another effort with the aid of the Soviet Union. According to an official announcement, four Soviet experts have arrived here on a three-week visit to
    Reuter  -  68 words
  • 557 10 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKG MAS MH682 0180 KCH JAL JL712 1000 HLP SIA SQ2I1 1010 HLP OLA GA980 1030 HLP CPA CX710 1030 HLP THAI TG423 1035 BKK OIA GA908 1100 MES PAL PR501 1115 MNL SAS SK097 1140 CPH/N
    557 words
  • 240 10 Reuter PARIS, Sun. Seven French constituencies vote today in by-elections seen as a key pointer to the chances of President Valery Giscard d'Estalng's ruling coalition beating off a strong Leftwing challenge in the 1978 General Election. Six of the President's former ministers, Including ex-Premier
    Reuter  -  240 words
  • 50 10 THE Industrial Training Board is offering courses in 35 subjects for its new intake of students in January 1977. They cover woodwork, building, electrical, electronic, printing, shipbuilding. hotel and metal trades. These courses, both fulltime and part-time, are available at the board's 12 industrial training institutions.
    50 words
  • 265 10 AP WASHINGTON, Sun. East German cargo ships will be allowed to dock in American ports for the first time. State Department officials said yesterday. The primary aim for removing previous restrictions is to increase the East German purchase of American grain, the officials
    AP  -  265 words
  • 103 10 Reuter BERNE. Sun. SwiUerJand had a trade surplus of 294 million francs (***** million), in October compared with a shortfall of 160 million francs in September and a surplus of 98.8 million francs in October last year, the Federal Customs Office said. This is the
    Reuter  -  103 words
  • 484 10 UNITED Overseas Bank's US$25 million Floating Rate Note due in 1981 has not only been over-subscribed by 60 per cent, but has the distinction of being the first of its kind in a number of important respects. The note is the first nongovernment owned or
    484 words
  • 284 10 AP KUALA LUMPUR. Sun. The South-east Asia Lumber Producers' Association (Sealpa) expects to export 4.5 million cu m of timber to Japan and 1.5 million cu m of timber to 1 South Korea during the first quarter of 1977. The Sealpa council made the forecast at
    AP  -  284 words
  • 180 10 THE Singapore Armed Forces Reservists Association has offered to provide the administrative help and support necessary to organise meaningful activities (such as games, excursions and educational classes) so that youths may be kept away from the wrong influence of drug taking and delinquency. This was stated
    180 words
  • Page 10 Advertisements
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      74 words
    • 19 10 ID/IGHT HOUDfIV/ The Executive's Travel Agent Suite 102 Cathay Building Mount Sophia Singapore 9 Telephone 3621?2. v AT V
      19 words
    • 95 10 DALVEY COURT LUXURY APARTMENTS FOR SALE OR RENT a; *1 4 m i m et 1 W, a i 1 1 V m U: 4 9fc m Government Copyright Reserved Developer's Licence No: 1650 Advertisement P arm It No: 0496 FOR IMMEDIATE OCCUPATION An Excel lent conformity with condominium development.
      95 words