The Business Times, 19 November 1976

Microfilm: NL8962
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 1455/76 FRIDAY, NOVEMBER 19, 1976 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon A challenging move...
      92 1 Reuter LONDON, Thurs. Britain's Labour Goverment today decided to challenge the House of Lords, the ancient upper chamber of Parliament which has been stubbornly resisting some of its key legislation, informed sources said. A struggle between the two chambers has come to a head because the Lords,
      Reuter  -  92 words
    • Article
      Devan off to Brussels
      56 1 MR. C.V. Devan Nair, secretary general of NTUC, left last night to attend a week-long session of the Executive Board of the International Confederation of Free Trade Unions in Brussels. He will be taking issue against the support given by Western trade union leaders to the
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    • Article
      $140m orders for yards
      47 1 FOUR local shipyards have received orders worth about $140 million under the DBS revised scheme for financing of deferred credit. According to the statement released by DBS yesterday, the orders came from one local buyer and the others from Europe and United States.
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    • Article
      Lock icon Colour TV probe
      62 1 AP TOKYO, Thurs. US officials have arrived in Japan to investigate five leading Japanese colour television manufacturers charged with exporting television sets to the United States at unfair prices, Kyodo News Service reported today. Kyodo, quoting Japanese industry sources, said the Japanese companies are Hitachi, Ltd., Mitsubishi
      AP  -  62 words
    • Article
      Lock icon Tories have 25 pc lead
      83 1 UPI LONDON, Thurs. A Gallup poll published by the London Daily Telegraph today gave the opposition Conservative Party a 25 per cent lead over the governing Labour Party. Only a month ago the Conservative lead was 11.5 per cent. The latest figures were Conservatives 55
      UPI  -  83 words
    • Article
      FT index up 8.5
      35 1 LONDON, Thurs. Stronger sterling, and belief that the IMF loan conditions would be stricter than expected, helped push the Financial Times index up 8.5 points to 319.6 at 3 p.m. today.
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    • Article
      $920m income tax due
      35 1 KUALA LUMPUR, Thurs. Taxpayers, mainly firms, are owing the Government $920 million in income tax, Finance Minister Tengku Razaleigh Hamzah said today. This amount, he added, was accumulated over several years.
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    • Article
      Lock icon Dow Jones
      44 1 UPI NEW YORK, Thurs. Dow Jones averages, based on the first hour of trading today on the New York Stock Exchange: 30 indus 942.57, up 4.49; 20 transp 219.17, up 0.77; 15 utils 99.41, up 0.36; 65 stocks 303.13, up 1.28. UPI
      UPI  -  44 words
  • Chief Price Changes
    • Article
      In Kuala Lumpur
      107 1 Falls Most active Tractors $3.28 *.24 Slme Darby 62,000 D. K era mat $4 66 J4 Har Par 38,000 Kramat Tin SR S $2^07 <1 4A -!l3 09 U.O.B Tnrhr»rx» 32,000 .31,000 M. Banking $6 45 New S.T.P. $3.72 Shell $3.32 Wilkinson $3 06 U.O.B. $3.36 Rises
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    • Article, Illustration
      In Singapore yesterday
      166 1 WITH no incentive to deal, sentiment remained weak at the Stock Exchange of Singapore yesterday. Most shares ended marginally lower. The Business Times index fell 1.12 points to 247.02 while the Straits Times Industrial average 9hed 0.80 point to 247.70. Falls Most active Hume M 166 -17
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  • Article, Illustration
    Call for rethink by traders, workers
    691 1 LEE: WE MUST ADJUST TO THE TIMES THE Prime Minister, Mr. Lee Kuan Yew, indicated in a dinner speech on Wednesday night that a rethink by all parties Involved In the country's economic framework might be necessary. The government, he said, must adjust its
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  • Article
    KOREAN BOND IS BEING FINALISED
    184 1 YAMAICHI Securities Ltd of Japan is believed to have finalised arrangements for the flotation of a US$25 million (5561.3 million) Asian Dollar bond for the Korean Development Bank. The bond (the first for a Korean borrower) is expected to be put together towards the end
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  • Article
    KLSE hits out at Economic Review's article
    480 1 KUALA LUMPUR. Thurs. The Kuala Lumpur Stock Exchange has reacted hotly to suggestions In the Far Eastern Economic Review that the recent election as chairman of Tengku Noone Aziz In place of Enclk Othman bin Ahmad was prompted by Chinese brokers who regarded
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  • Article
    Our trade gap is shrinking
    287 1 SINGAPORE'S trade deficit is definitely shrinking. This was reaffirmed yesterday by the latest trade figures from the Department of Statistics. The trade gap at endOctober according to the preliminary figures Indicates a fall oi seven pier cent or so in the deficit on the cards
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  • Article
    Growth reduced
    116 1 WASHINGTON, Thurs. The US Government today reduced its estimate of growth In America's economic output to 3.8 per cent during the third quarter, or lust below the level generally considered necessary to whittle down unemployment. The Commerce Department had estimated last month that the Gross National Product grew
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  • Article
    Lock icon £ PUTS ON 5 cts
    147 1 PUTS ON 5 cts AP STERLING rose by about five centi yesterday in Singapore from the previous day's close to hit $4-10. This was the first time that the sterling had firmed to this level since the end of September when the pound was at the 554.08/10 level. Dealers here
    AP  -  147 words
  • Article
    All-time low for Treasury bill rate
    302 1 THE treasury bill rate and the call deposit rate in the discount market have hit an all-time low In Singapore. The treasury bill tender rate now stands at 3.035 per cent with the call deposit rate hovering around the three per cent level. Discount
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  • Article
    Four loans approved by ADB
    104 1 MANILA. Thurs The Asian Development Bank approved four loans today to'three countries Pakistan, Bangladesh and Gilbert Islands. Pakistan got the approval for two loans totalling US$4B.6 million (SSI 19 million) for the development of Port Qasim to make it a major seaport. Both the loans
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  • Article
    Lock icon Japan's surplus
    75 1 Reuter TOKYO, Thurs. Latest studies by the Ministry of International Trade and Industry indicate Japan's visible trade surplus on an FOB basis will rise to US$B.2 billion (5520.1 billion) or more In fiscal 1976 ending next March, from 5.84 1 billion last year, ministry sources said. The new
    Reuter  -  75 words
  • Article
    Retiring bank exec for Hutchison board
    209 1 HONGKONG. Thurs. The retiring chief manager of Bank of East Asia, Mr. Li Fook Wo, has been appointed to the board of Hutchison International Ltd, as a non-executive director. Announcing this, HlL's deputy chairman and chief executive MR. W.R.A. Wyllie said Mr. Li's appointment
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  • Article
    Lock icon E. TIMOR A PART OF US – MALIK
    82 1 E. TIMOR A PART OF US MALIK AP JAKARTA, Thurs Foreign Minister Mr Adam Malik said today that his government would not give up East Timor despite the UN colonial committee's rejection last July of its Integration with Indonesia. Mr Malik told reporters: "Integration already has taken place five months
    AP  -  82 words
  • Article
    Sime prepared for worst at today's meeting
    407 1 THE Sime Darby management Is prepared for the worst although it is still hoping for the best. Yesterday Sime chairman. James Bywater, went round to see the Malaysian authorities in a last minute effort to mend fences before today's crucial shareholders meeting at
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  • Article
    Bills in readiness for oil bonanza
    205 1 KUALA LUMPUR, Thurs. Two bills to prepare the ground for the petroleum bonanza which will come with the signing of the contracts between Petronas and the oil companies were presented to the Dewan Rakyat today. The state oil firm and the companies, Exxon and
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      31 1 BSLiilr iffiftz INSIDE Oversea* new*/ TV Radio Local Co news International Co Local stocks Overseas stocks Commodities I Transport 4 Communications I Features Local A Overseas news Local A Overseas news
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    • Advertisement
      Page 1 Advertisements Column 2
      105 1 Copy large size originals on one sheet, size for sizeno trimming, no sticking together. Xerox 3103 No matter what the originals. Up to 14" by 18" or 356 mm by 457 mm. Solids. Half tones. Or pale blue. The Xerox 3103 gives perfect reproductions. Every time. Size for size. On
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      Page 1 Advertisements Column 3
      208 1 X' /"/i t par G O L F PTE LTD the golfers' shop M." 'AO £AS r SHOPPING b ORCHARD «OAO VNoAPOet 9. 7f. 1* The Corporate Dollar Capital Idle Working Capital Overheads Taxes Reinvestment Cash Wx I EN riMri Put your idle cash to work with American Express International
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  • OVERSEAS
    • Article
      Lock icon 'Downturn in gold output after 1986'
      388 2 Reuter AP JOHANNESBURG, Thurs. Gold production In South Africa, which produces 70 per cent of the world's supply, is "on the last plateau before the long decline," a mining official said yesterday. Mr. D.A. Etheredge, head of the gold mining division of the giant
      Reuter; AP  -  388 words
    • Article
      Lowest wage increase
      49 2 LONDON, Thurs. Basic wages for British workers rose by 16.7 per cent for the year up to October the lowest annual increase since May 1974 according to figures published by the Department of Employment yesterday. Britain's wage-rates index has fallen almost continuously for the last year.
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    • Article
      Lock icon Average price at next auction
      126 2 UPI WASHINGTON, Thurs. The International Monetary Fund said yesterday that gold sold at the Dec. 8 auction will be offered at the average price of acceptable bids. Gold will be delivered to successful bidders at the Bank of England. In the previous two auctions, the
      UPI  -  126 words
    • Article
      Lock icon What the sharp price fall reflects
      249 2 Reuter ZURICH. Thurs. The sharp fall in the gold price over the past few days reflects a consolidation movement after the exaggerated surge in the price to a high slightly over US$l4O on Monday, senior bullion bankers and economists said. The reaction was fundamentally
      Reuter  -  249 words
    • Article
      Lock icon British show in Peking
      57 2 AP TOKYO, Thurs The British 48 Group's/ broadcasting, radar and instrumentation exhibition opened in Peking's exhibition centre yesterday, the official Hslnhua news agency reported. On display at the exhibition were broadcasting and television equipment, radar sets and high-precision instruments for testing, analysis and measurement. Hsinhua said
      AP  -  57 words
    • Article
      Lock icon Tumble in prices after polls result
      525 2 SEPARATIST FEARS HIT QUEBEC MART Reuter MONTREAL, Thurs The pro-separatist Parti Quebecols' (PQ) victory in the provincial elecUon has sent stock prices on the Montreal exchange Into their sharpest slide In two years. Hardest hit has been Alcan Aluminium Ltd, which has 42 per
      Reuter  -  525 words
    • Article
      CARTER SPENT $86m on RACE
      204 2 PLAINS, (Georgia), Thurs. Mr. Jimmy Carter spent US$35 million (5585.75 million) in his successful, two-year run for the presidency, with significant contributions coming from fellow Georgians, Carter campaign officials disclosed yesterday. Mr. Carter spent a total of $13.2 million to win the nomination $3.5 million
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    • Article
      Lock icon Just one per cent
      75 2 AP SEOUL, Thurs Sweden has proposed only one per cent annual Increase In its import quotas on six South Korean textile Items for the year beginning July 1, 1976, the Foreign Ministry said today. A Korean spokesman said a Swedish delegation, led by Mr Carl Crafoord,
      AP  -  75 words
    • Article
      Lock icon Ford will approve new Salt pact if...
      191 2 UPI WASHINGTON, Thurs. The White House said yesterday, President Ford would approve a new Strategic Arms Limitation Agreement with the Soviet Union If he could get one "In American's interest" before Mr. Jimmy Carter takes office. US Soviet negotiations on a second-stage Salt
      UPI  -  191 words
    • Article
      Lock icon Japan officials to meet over EEC problem
      320 2 UPI TOKYQ, Thurs. Representatives of eight goverment ministries and agencies met today to discuss ways to adjust Japan Is trade surplus with the European Common Market, Government sources said. The same officials are scheduled to meet leaders of Keidanren (the Federation of Economic
      UPI  -  320 words
    • Article
      Lock icon 400,000 poised for strike at GM
      351 2 AP UPI DETROIT, Thurs. The United Auto Workers Union (UAW) is poised to call a strike against Oeneral Motors early tomorrow, when the deadline for agreement to a new threeyear contract expires. Bargaining teams have been meeting late into the night, and the UAW
      AP; UPI  -  351 words
    • Article
      Lock icon Tripoli date for peace talks
      214 2 AP TRIPOLI, Thurs. The Philippine Goverment and Muslim insurgents will hold peace talks in Tripoli, beginning on Dec. 15, Libya announced last night. A joint communique issued at the end of an official visit by the Philippines' First Lady, Mrs. Imelda Marcos, said Libya and
      AP  -  214 words
    • Article
      Lock icon CALL FOR FRONT TO FIGHT BARRE'S PLAN
      162 2 Reuter PARIS, Thurs France's biggest union, the com-munist-led Confederation Generale du Travail (CGT), has called on other unions with members In the public service sector and nationalised Industries to form the largest possible common front to combat the government's wage freeze and economic
      Reuter  -  162 words
    • Article
      $49m pipeline deal
      82 2 TOKYO. Thurs. Nissho Iwal co, and Hitachi said today that they have signed a US$2O million (Ss49 million) contract to provide the Soviet Union with five pipeline turbine booster stations. Nissho-Iwal officials said the stations will be used for transmitting natural gas through a major gas pipeline
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    • Article
      Lock icon Jakarta: To borrow or not?
      179 2 Reuter NEW YORK, Thurs. The Indonesian Central Bank is considering borrowing US$2OO to $400 million (Ss49o to $980 million) in 1977 to rationalise and extend its existing short-term debt, financial sources said. The size of the borrowing depends largely on the length of maturity It
      Reuter  -  179 words
    • Article
      Lock icon Chicago bank's branch
      72 2 Reuter SEOUL, Thurs. The First National Bank of Chicago formally opened operations of Its branch here. First Chicago Is the fourth American bank operating here after Chase Manhattan. Citibank and Bank of America. There are seven other foreign banks with branches here Bank of Tokyo, Mitsubishi Bank,
      Reuter  -  72 words
    • Article
      Computer venture
      33 2 TOKYO, Thurs. Fujitsu, Ltd. of Japan and Amdahl Corp. of the United States have established a joint venture in Hamilton, Bermuda, to market computers in Europe, the Japanese concern said yesterday.
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    • Article
      Lock icon US may plant big soybean crop
      271 2 AP AP WASHINGTON, Thurs. If current prices hold up, American farmers next spring may plant a near-record acreage of soybeans which could help replenish the dwindling US stockpile, according to an Agriculture Department analyst. Mr. George Kromer, a fats and oils specialist In USDA's
      AP  -  271 words
    • Article
      Lock icon TAIWAN TO RAISE $106 bil
      154 2 Reuter TAIPEH, Thurs Taiwan's Cabinet approved USS43.S3 billion (SSIO6 billion), economic development plan for 1976 to 1981. Finance Minister Waiter Fei said the bulk of the capital under the plan will have to be raited locally. Domestic investments would account for $36.8 billion, and the
      Reuter  -  154 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      244 2 in Asia FORTUNE is essential reading for 615,000 of the world's most influential executives. Each month, FORTUNE explores the future, offering look-ahead information on economic trends, corporate strategy, multinational business, management methods, the outlook for investments, and the new technology. To subscribe to 18 issues of FORTUNE at a special
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      397 2 E WEATHER WEATHER report for 24 hours prior lo 7.30 p.m. on Nov 18 at Singapore airport:; Maximum temperature 1.. 28.5 C Associated humidity 80 Minimum temperature 23.0 C Associated humidity 100 Hours of sunshine 3.55 Rainfall in millimetres 0.6 Total rainfall for the month 184.7 Total rainy days for
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      970 3 Ocean Capital Properties announce an enterprising new retail development: Bukit Timah Plaza Metro and Fitzpatrick's have recently signed up for prime retail space at Bukit Timah Plaza. When the shopping centre is completed in the last quarter of 1978, Metro will have a department store spread over 3 floors. And
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  • COMPANY NEWS
    • Article
      A flying start for Metal Box Bhd
      458 4 METAL Box Bhd., the M&layslan offspring of the former Metal Box of Malaysia, has got off to a flying start in its first year of operations as a separate company In the first six months ended Sept 30, 1976, group pre-tax profits rose
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    • Article
      Mineral Securities takes a plunge
      286 4 MINERAL Securities Malaysia appears to have hit a bad patch with pre-tax profit for the year ended June 30, 1976, taking a 46 per cent plunge to M 5517.350 from the peak of $957,077 previously. The main reason given for this serious setback Is the
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    • Article
      Matsushita's new chief
      285 4 RAJA Tan Sri Zalnal bin Raja Sulalman has been appointed chairmam of Matsushita Industrial Corp. Sdn. Bhd (Malco), succeeding Mr. Arataro Takashashl who announced his retirement yesterday. Mr Takahashl, 73, said his cherlsed desire Is to see Malco headed by a Malaysian of distinguished personality as chairman.
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    • Article
      Sim Lim hit by large bad debt provision
      1128 4 A HEFTY provision of $3.21 million for doubtful debts accounted for about half the colossal net group loss of $7.24 million suffered by Sim Llm Investments for the year ended March 31, 1976. This loss, which is five times greater than the
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    • Article
      Fusan Fishing
      86 4 THE Kuala Lumpur Stock Exchange has asked Fusan Fishing Net Manufacturing for the parent's and group's sales volume or turnover for the first six months ended June 30,1976, together with the comparative figures. The Information, required under the exchange's Undertaking Requirement C (a), will be for public release,
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    • Article
      Malaysia Wood Wool – answers to come soon
      292 4 Malaysia Wood Wool answers to come soon ANOTHER company involved In the general air of mystery now hanging over the erstwhile Mosbert group is Malaysia Wood Wool Products. As in the case of South Johore Amalgamated Holdings, which only recently produced its 1975 results, shareholders are being kept waiting a
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    • Company meetings
    • Article
      DIVIDENDS ANNOUNCED
      350 4 Current Ex Date Total for Total for payment Date payable the year 1 IM-eviouj year B.M. Trustee* 15% Nov. 9 Nov. 19 15% 15% T. O—t Prrf. 6% Nov. 4 Nov 22 12% 12% Tractor* 30% Oct. 12 Nov 22 37.5% 25% Alcorn 10% Oct. 14 Nov. 25
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    • Article
      Higher output from Tasek Cement
      460 4 CEMENT production in Perak is expected to Increase considerably with the recent installation of a third kiln In Ipoh by the country's biggest cement producer. The kiln which Is part of a $60-mlllion expansion programme by Tasek Cement will double the factory's output by more
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    • Article
      Lock icon NBC agrees to accept Government's terms
      845 4 ANTI-TRUST SUIT NYT WASHINGTON, Thurs. National Broadcasting Co. has agreed to a settlement of the Government's antitrust suit against It on terms that will severely restrict both the number of network-owned entertainment programmes that NBC may broadcast and the financial Interests it may have
      NYT  -  845 words
    • Article
      Lock icon Oakbridge improves
      111 4 Reuter BYDNEY, Thurs Oakbridge's profits In the first four months of the year ending June 30,1977 are well ahead of the same period last year, the chairman, Mr O.E. Mapp said. He told the annual meeting the Improvement Is reflected In all divisions, but the mining division's profits
      Reuter  -  111 words
    • Article
      CHICAGO BOARD OPTIONS
      1203 4 On November 17 PRICES ON THE Chicago Board Options Exchange were also closed higher on Wednesday, with 331 contracts up and 101 down. Volume was 75,421 contracts compared with Tuesday's 79,269. OPTION JAN APL JLY STOCK Alcoa 45 81/2 NOL NOL 531/4 Alcoa SO 4 5/8 UNTRD
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      284 4 We Help You 1o Mind Your Own Business rade industry trade industry H3FI mmtUU ffifr iiiiUiiiii II UUUUUi mm mmmn I iiiiiUiiii j trade^industry f' I *m i ■S trader industry The Republic's foremost Business Review The regular review of Singapore's business scene, compiled for easy reference by executives. Noted
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  • INTERNATIONAL COMPANY NEWS
    • Article
      British Steel cuts down losses
      190 5 LONDON. Thurs. Losses at British Steel Corporation have been reduced by 66 per cent on a turnover increase of 29.3 per cent in the first half-year ended Oct 2, 1976. j Pre-tax loss came to £43 million compared with a deficit of £125 million last
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    • Article
      Lock icon Toyota, GE seeks further links
      110 5 Reuter TOKYO, Thurs. The Tovota Motor group and General Electric of the US reached basic agreement on technical tie-ups in various fields, Toyota Motor Sales said. Details of the arrangements are subject to further discussions, it said. The tie-ups stem from the visit of Toyota
      Reuter  -  110 words
    • Article
      W Mining reports copper find
      181 5 MELBOURNE, Thurs. Western Mining Corp said drilling at its Roxby Downs prospects near Andamooka in South Australia had shown "a very large body of copper mineralisation." Five holes within an area of about 1,500 metres were drilled, revealing mineralisation of between 0.88 and 4.38 per
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    • Article
      Profit slowdown at Unilever
      399 5 LONDON, Thurs. Weighed down by substantial costs of reorganising Its loss-making UK meat company, the profit Improvement at Unilever slowed down considerably In the third quarter of this year. After raising combined pre-tax profit 2Vi times to £255.3 million at midterm, Unilever was only able to
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    • Briefly
      • Article
        Union Carbide earnings
        70 5 NEW YORK, Thurs. Union Carbide Corp said that, due to continued sluggishness in domestic and most foreign economies, 1976 earnings will be somewhat less than projected at the end of the third quarter. Carbide had forecast 1976 net about 20 per cent higher based on an anticipated
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      • Article
        Plessey payout
        59 5 NEW YORK, Thurs. Plessey has declared a final dividend for the year ended March 31, 1976, of 22.582 US cents per American depositary receipt (ADR). The company also declared a first interim dividend for the current year of 16.466 cents per ADR. Both dividends are payable on Jan
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      • Article
        Occidental
        111 5 LOS ANGELES, Thurs. Occidental Petroleum Corp said a third well in the Tlta field of Bolivia tested 9.5 million cubic feet of natural gas daily, and 624 barrels of 69-degree condensate dally. The company said operations are under wav to drill a fourth well 2.4 km from the third.
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      • Article
        A. Breweries
        55 5 LONDON, Thurs. Allied Breweries said its offer of eight ordinary shares for each Teacher (Distillers) ordinary has been accepted on behalf of 96.79 per cent of the shares. The 65p cash offer for each preference share has been 90.37 per cent accepted Both offers are now unconditional and
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      • Article
        Revlon
        58 5 NEW YORK, Thurs. Revlon has increased the quarterly dividend on recently split shares to 22V» US cents payable on Jan 17, to shareholders on record on Dec 15. The increased dividend rate is equivalent to an annual rate of $1.80 a share on the shares outstanding before the split
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      • Article
        Jack Chia
        64 5 HONGKONG. Thurs. A 16.7 per cent increase in group net profit to HK5843.929 from $722,852 has been reported by Jack Chia International for the first six months ended Sept 30, 1976. It is maintaining the interim dividend at 2.5 cents. The company said barring unforeseen circumstances it is
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      • Article
        G-Skogmo plunges
        83 5 NEW YORK, Thurs. Gamble-Skogmo has suffered a 48 per cent plunge in net profit to US$2 million from $3.85 million for the third quarter ended Oct 30, 1976. This reduced the ninemonth total by 13.2 per cent to $7.85 million from $9.04 million on sales of $1.15 billion
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      • Article
        MAN ups dividend
        83 5 AUGSBURG, Thurs. Maschinenfabrlk Augs-burg-Nuernberg has proposed a higher dividend of seven marks (six marks) following net profits of 55.10 million (30.93 million) marks in the year ended June 30. 1976. A company statement said capacity us* lor 1976/77 in Important sectors Is covered by long-running orders but
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      • Article
        D. Hudson
        64 5 NEW YORK. Thurs. Third quarter net profit at Dayton Hudson rose to U5515.13 million from $10.69 million on revenue up to $458.7 million from $415.1 million. This brought the ninemonth profit to $30.02 million ($20.71 million) on revenue of $1.23 billion ($1.14 billion). Earnings per share were 95
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      • Article
        Shipping merger
        62 5 PARIS, Thurs. The boards of Cle Generate Transatlantique (CGT) and Cie des Messagerles Maritimes (CMM) have agreed in principle to merge both companies, Cie Generale Maritime (COM) said in a communique. COM, which has a 64.2 per cent stake in CGT and a 79.1 per cent stake in
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      • Article
        Texaco
        56 5 LOS ANGELES, Thurs. Texaco Inc expects worldwide capital and exploratory expenditures about US$l.6O billion In 1977, its chairman, Mr. Maurice Granville, told an analysts' meeting. The largest share will go primarily for use in the US, Mr. Granville said. The figure Is the same as the company spent for
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      • Article
        Data Gen
        104 5 SOUTHBORO, Mass., Thurs. Data General Corp said it is introducing a new generation of operating system software for its Eclipse family of small computers and two new video display terminals for data entry and infor- mation retrieval from computer systems. The company said the new operating system software
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      • Article
        ITT
        47 5 NEW YORK. Thurs. International Telephone and Telegraph Corp said in response to a question it expects 1977 capital expenditures to rise to about US$7OO million from the estimated 1976 spending of $640 million. A spokesman said the firm spent over $800 million in 1973 and 1974.
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      • Article
        CNT
        71 5 NEW YORK, Thurs. The proposed offering by Caisse Nationale des Telecommunications of US$l25 million of guaranteed notes and bonds has been postponed. lead underwriter, Lazard Frers, said. Lazard said that no new date has been set for the offering which was scheduled for tentative pricing last night for offering
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      • Article
        Standard Oil
        26 5 CLEVELAND, Thurs. Standard Oil of Ohio said it plans to offer three note issues totalling US$3OO million, with Morgan Stanley leading the underwriting group.
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      • Article
        M. Hanover
        47 5 NEW YORK, Thurs. International loan demand has risen strongly in recent months. Manufacturers Hanover Trust executive vice president, Mr John Waage said. He told reporters the bank has turned down a sizeable amount of these loans because the credit risk or the rate was wrong.
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      • Article
        NI Bank
        54 5 AMSTERDAM, Thurs. Natlonale Investerlngsbank plans to raise a 75 million guilder B*4 per cent, 10year debenture loan at a price to be announced on Nov 24, Algemene Bank Nederland said. Redemption will be in 10 equal annual Instalments on Jan 1 beginning 1978. Early complete or partial redemption
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    • Article
      Lock icon Hefty jump in Kobe profit
      204 5 Reuter TOKYO, Thurs. For the first half-year ended Sept 30, 1976, Kobe Steel has achieved a big jump in net profit to 5.74 billion yen from 599 million yen on gross sales of 440.2 billion yen compared with 356.9 billion yen last time. The interim
      Reuter  -  204 words
    • Article
      Philips
      39 5 AMSTERDAM. Thurs. Philips Gloielampenfabrleken is studying and preparing a contract for telephone technology worth several billion guilders from an Arab state and hopes to announce favourable news within a few months, executive board member Mr. Jef Offergelt said.
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    • Article
      Alcan resumes work
      92 5 MONTREAL, Thurs. Alcan Aluminium said it expects to resume low-grade metal production at three of four Quebec smelters in two weeks The company said the 6,300 workers, who approved a contract on Monday which paved the way for settlement of a five-month strike, are being recalled as
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    • Article
      Lock icon Little sales change for Sumitomo
      166 5 Reuter TOKYO, Thurs. Sumitomo Metal Industries said It expects second half sales of about 540 billion yen, bringing total sales for the year ending March 31, 1977, to 1,059 billion ven, rnmoared with 555 R hlfllon yen and 1,051 billion yen respectively the previous year.
      Reuter  -  166 words
    • Article
      Lock icon JC Penney unable to meet forecast
      110 5 Reuter NEW YORK. Thurs. J. C. Penney will not meet its earlier fiscal 1977 sales forecast of US$B.5 billion, Its vice-president, Mr. Lee Moore, told Reuters after an analysts' meeting. Penney has reported sales for the nine months ended Oct 31 about $5.7 billion,
      Reuter  -  110 words
    • Article
      Wool worths buoyant
      194 5 LONDON, Thurs. F. W Woolworth has reported a 5.3 per cent Increase In pretax profit to £22.85 million from £21.7 million on sales, excluding value added tax, up to £459.33 million from £392.16 million for the first nine months ended Oct 31, 1976. Trading profit was £26.09
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    • Article
      Lock icon Du Pont sees lower earnings
      209 5 Reuter WILMINGTON, Del., Thurs. Du Pont said It expects fourth quarter earnings to be less than US$2 a share compared with $2.87 a year earlier. The company said earnings will be affected by continued weakness In the man-made fibres business and the Impact of foreign
      Reuter  -  209 words
    • Article
      NS forecasts world sales rise
      170 5 CHICAGO, Thurs. Worldwide semiconductor sales in 1976 should rise 25 per cent, followed by a 23 per cent gain In 1977, with all sectors of the Industry contributing to the growth, National Semiconductor Corp marketing vice president Mr. Floyd Kvamme told an elctronlcs business seminar.
      170 words
    • Article
      Lock icon Handelsbank loan
      135 5 Reuter COPENHAGEN, Thurs. Copenhagen's Handelsbank said an extraordinary general meeting on Nov 30 will be asked to approve the raising of a foreign loan of up to 500 million crowns. In a statement It said the recommendation to take up subordinate loan capital abroad is designed to ensure
      Reuter  -  135 words
    • Article
      Lock icon Bankers Trust will contest MFC suit
      116 5 Reuter NEW YORK. Thurs. Bankers Trust said in a statement charges by Maritime Fruit Carriers that the bank acted to the detriment of Maritime Fruit are without merit and it will contest them vigorously in court. Earlier Maritime Fruit said it filed suit in
      Reuter  -  116 words
    • Article
      Lock icon Aust. exchange members to meet
      343 5 Reuters SYDNEY, Thura Members of the Sydney and Melbourne stocks exchanges will meet on Dec 8 to consider proposals for the establishment of a joint committee, Sydney Stock Exchange general manager, Mr Peter Marshman, said. The joint committee will have responsibility and authority for making
      Reuters  -  343 words
    • Article
      Gloomy days ahead for CSR
      280 5 SYDNEY, Thurs. Though CSR has enjoyed a 13 per cent Increase in Interim profits, It Is gloomy about prospects for the second half-year. The laggard Is apparently Its sugar operations which are not expected to maintain the interim performance In the current half. And this
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    • Article
      FNBC
      82 5 BOSTON. Thurs First National Boston Corp, holding company for First National Bank of Boston, told an investors' meeting it expects 1976 income before securities transactions to be within the range of last years' U5542.5 million, or $3.52 a share, and anticipates gradually improving results into 1977. For the first
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    • Article
      Lonhro
      36 5 LONDON. Thurs. Lonhro said it now owns 27.72 million ordinary shares, or 31.07 per cent, of the issued capital of London City and Westcliff Properties following its purchase of 1.65 million shares at 22p each.
      36 words
    • Article
      Kawasaki Steel is uncertain
      199 5 TOKYO, Thurs. Kawasaki Steel Corp's net sales for the latter half of the year ending March 31, 1977, will be slightly higher than in the first half, but it Is difficult to forecast net profit because of many uncertain factors, a company spokesman said. The company
      199 words
    • Article
      Nova Scotia
      26 5 LONDON. Thurs. The Province of Nova Scotia Cs3o million, nine per cent issue due 1983 was priced at par. lead manager Wood Gundy said.
      26 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      75 5 \C yr >: i i s a •V V* > >< Exotic cuisine passionately recommended Prawn musalla Selected fresh prawns cooked with subtle spices, onions, paprika juice and sauce Tubarine Araby Choice cuts from tender lamb cooked with spinach, ginger sauce and green spices from the Middle East Tandoori chicken
      75 words
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      Page 5 Advertisements Column 2
      154 5 The international bank with your interests at heart. Dai-lchi Kangyo Bank is Japan's largest bank. With assets of about 39 billion dollars. But our size doesn't make us impersonal. A worldwide staff of financial experts ready to give your project their individual attention. And we have your interests at heart.
      154 words
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  • Article
    Share Information Service
    1968 6 SECTION ONE INDUSTRIALS 1976 High Low Compaay Last Sale ♦orGr'i div Div c'rr Gr't y'U P/E Val ('«•> Day High Low 250 206 100 237 186 402 204 248 460 137 170 172 60 185 66 254 149 172 394 39 Ac ma Alcom Allied Choc Bata
    1,968 words
  • Article
    Transactions in Singapore
    1047 6 BID and offer prices officially luted and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of 1000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "Bett." Big Board
    1,047 words
  • Article
    Unit trusts
    141 6 SINGAPORE UNIT TRUST (Manager's prioM for Nov l») INCOME BOND UNIT (Current prices) The Commerce 190 1.70 The Saving Fund O.M 1.01 8'pore Prof Fund 0.11 0* S pore Security Fund 1 25 1.32 S'pore Invest Fund 1.01 1.07 ASIA UNIT TRUST (Manager's price* for Nov It) Mai
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  • Article
    Government and corporate bonds
    391 6 S'pore Govt 5 1/2% Taxable Loan No 2 With A I 1975/ lit Dec 1977 (1,000,000) (101.088 101.788) S'pore Govt 5 1/2% Taxable Loan No 1 With A I 1976/15 th Apr 1978 (1,000,000) (101.638 101 725) S'pore Govt S 3/4% Taxable Loan No I With
    391 words
  • Article
    In Kuala Lumpur
    1243 6 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets In lots of 1,000 units unless otherwise specified. INDUSTRIALS 41.858 1*78). A team <2.1 IB 2.148). XD. A. Cfeaa (0
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  • Article
    Trading is still dull
    527 7 SHARES beaded generally lower is very quiet trading at the Stock Exchange of Singapore yesterday. The wait-and-see attitude grew more pervasive and took its toll on volume which had been steadily on the decline in the past few weeks. Against a news background of general uncertainty,
    527 words
  • Article
    Shares in KL end lower
    377 7 INTEREST continued to remain at a low ebb with prices moving on an easier bias at the Kuala Lumpur Stock Exchange Yesterday. The volume of business which has been kept at a low level since the week began took a further dip yesterday. Th'e prevailing
    377 words
  • Article
    DG Bank loan
    104 7 FRANKFURT. Thurs.- DG Bank Deutsche Genossenschaftsbank said its subsidiary DG Bank Finance of Amsterdam is raising US$4O million on the Euromarket through a floating rate note issue of maximum maturity six years. The notes are expected to be issued at par on Nov 26. They will carry
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  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      New York
      1096 7 NEW YORK: The stock market maintained upward momentum in moderately active trading on Wednesday. Analyst* attributed the day's higher close mainly to the market's oversold condition. But they said some of the strength was also due to a published report suggesting Federal Reserve Board chairman Mr. Arthur Burns
      1,096 words
    • Article
      Amsterdam
      269 7 AMSTERDAM: Shares fell virtually across the board on Wednesday, dealers said. In markedly lower Dutch Internationals, Unilever vas moderately lower prior to Its third quarter figures announced after the close. KLM, Heineken, Bolt, Van Gelder, OCE and Boer were leaders to decline elsewhere. State loans also eased. NOV 17
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    • Article
      Zurich
      290 7 ZURICH: The market was barely steady on Wednesday, In moderate trading that lacked new incentives, dealers said. The Credit Suisse index fell one point to 203.2 Banks drifted lower led by Bankgeeellschaft. Among barely steady flnanclals IJsego lost most of Tuesday's gain. Juvena Shares H4rty reacted to the sale
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    • Article
      Jo'burg
      384 7 JOHANNESBURG: Gold shares continued easier in Une with lower overseas bullion Indications in quiet trade on Wednesday, dealers said. Financials Mining were also weaker Charter was untraded but bid three cents higher at 280 following figures. De Beers gained three cents to 316. Coppers were idle with Isolated trades
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    • Article
      Frankfurt
      12 7 FRANKFURT: The stock market was closed on Wednesday for a holiday.
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    • Article
      Milan
      156 7 MILAN: The market closed generally easier on an endaccount technical factors in active trading on Wednesday, dealers said. Fiat was higher and Olivetti privileged was unchanged against the trend. Mediobanca held steady in banks and Assicurasioni Generali was marginally higher In insurances. Btitdfi lost ground in depressed flnanclals. Bonds
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    • Article
      Paris
      385 7 PARIS: The market was lower on balance on Wednesday, lead by a general fall in metals and buildings, dealers said. Heaviest falls In metals Included Metal Normind and Vallourec which were both down four per cent. In buildings, Poliet lost two per cent and Cim Franca is just over
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    • Article
      Toronto
      313 7 TORONTO: Rapidly retreating Quebec-based stocks dragged a weak Toronto market sharply lower by the close of moderate trading on Wednesday All Quebec-oriented mining and industrial stocks were generally off at least one point. Alcan lost 1% to 20% on 120,876 shares, the session's heaviest trading. Northern Telecom dropped 1
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    • Article
      Brussels
      160 7 BRUSSELS: Prices closed mixed in quiet trading on Wednesday, dealers said. Fibrique National*. Geominea, Solvav and Cometra rose, while Sidro, Hoboken, Vieille Montague, GB-lnno-BM and UCB posted losses. British stocks were mixed and US. West Germany, Dutch and French shares all fell. Gold mines were down except for Val
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    • Article
      Sydney
      489 7 SYDNEY: The market again, fell to a new low for the year on Thursday, amid continued bearish trading sentiment, dealers said. The Sydney All-Ordinaries fell 1.52 points to 413.16. They noted that there was some relief that no rights issue was forthcoming from CSR, and this was reflected In
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    • Article
      Hongkong
      419 7 HONGKONG: The market closed higher In very quiet, dull trading on Thursday, dealers said. The Hang Seng Index rose 2.66 points to 388.62. Turnover on the four exchanges totalled HKSI7 52 million, compared with Wednesday's $20 08 million. They cited as possible factors the strength of the Hongkong dollar,
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    • Article
      Tokyo
      484 7 TOKYO: Prices fell sharply across the board on Thursday on liquidations accelerated by growing European moves against Japanese exports, dealers said. The Dow-Jones average fell 54 28 to close at 4.459 91 with volume 180 million shares The new index closed at 343.16. down 2.93. Export-oriented electrlcals and motors
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    • Article
      Bangkok
      85 7 NOV It Bahts 4VAsia Fibre 1178 •1 Bangkok Bank 233 4-2 Bangkok Invest 1S1 4-4 Bangkok-Metro-politan Bank BaU 337 4-2 BerllJucker 147 42 Charoonf Thai Wire 144 ♦1 Oumex DusltThanl Faber Merlin mm. Flr*t Trust Indo-Thal J And J Ho its unch Jalaprathan Cement 75 43 Karnasuta 3SS unch
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    • Article
      Manila
      179 7 MANILA: The market closed lower in thin trading on Thursday. with minings and oils declining across the board, dealers said. Losses outnumbered gains 30 to 7, with 11 Issues unchanged Commercials gained slightly Marlnduque led losses on market rumours that ninemonth results showed a 39 million pesos loss, but
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    • Article
      Indices
      98 7 FINANCIAL TIMES INDUSTRIALS Wednesday ..311.1 Tuesday ..310 2 Week ago .302.7 TIN Wednesday 120.13 Tuesday 121.80 Week ago 118.58 RlBBERS Wednesday 496 18 Tuesday 488 89 Week ago 496 35 OILS Wednesday 372.84 Tuesday .376.28 Week ago 359 35 DOW JONES AVERAGE INDUSTRIALS Wednesday 938 08 Tuesday .935 34
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    • Article
      French firms face problems
      94 7 PARIS, Thurs. Many French companies are beginning to face a tight liquidity situation, the Bank of France said in its monthly economic review. This is partly because of the domestic price freeze and partly because firms are having to cut prices to hold positions in export
      94 words
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      Page 7 Advertisements Column 1
      340 7 *7v Yes, Penguin books are not to be found in any ordinary shop. ®in little road-side stalls. Heavens, certainly not in the dsar malam! Because Penguin books are rather special. They are mind-stimulating, deeply researched, entertaining in a wholesome way, highly educational quite unlike the type tfyat merely appeals to
      340 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Rubber market
      692 8 OPENING qouotatlons In the Singapore rubber market yesterday were marked down one cent in line with lower overseas advices, after which conditions remained quiet. Towards noon, however, stopless selling appeared and took December down to 206.00 cents. Near forwards, especially Jan/Mch and Apl/June were In demand, they added.
      692 words
    • Article
      SSR and SMR
      120 8 DAILY SSR AND SMR prices at noon yesterday Dec. Jan. R.A.S. (Current Mth) (Forward Mth) Buyer* Sellers Buvcra Sellers (cents per kf) (cents per kf) SSR 20 (1-ton Pallets) 189 50 190 50N 190 50 191.50N SSR 50 (1-ton Pallets) 187 00 189 OON 188 00 190
      120 words
    • Article
      Straits tin
      131 8 THE Straits tin price In Penang yesterday rose $4.00 to close at $1,234 per plcul on an official offerlnf up 172 tonnes to 287 tonnes. In LONDON yesterday, tin gained about £8 per tonne for cash and £15 for Three Months In both contracts. The early pre-market was
      131 words
    • Article
      Closing prices
      30 8 Robber: Nov 18 Singapore: Dee. 206.50 eta (down 0.75 eta.) Malaysia: Dec. 212.00 eta. (down 1.25 eta) Tin: $1,234.00 (up $4.00) Official offering: 287 tonnes (up 172 tonnes)
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    • Article
      Lead
      56 8 LONDON, Thurs Lead finished the morning mostly £2.50 per tonne down. Values eased with copper and the strength of sterling during the pre-market and Three Months traded down to £289 per tonne. Three Months traded up to £292.50 by the end of the kerb, recovering most of the earlier
      56 words
    • Article
      Tin shipment
      66 8 Shipment of Straits Refined Tin from Penang for the period Nov 1 to is. Destination Shipped tonnes Afloat tonnes Africa Australasia Canada Continent India Japan Middle East Pacific Singapore S America United Kingdom U.S.A. 15.00 5.00 1,348.75 250.00 503 00 5 00 189 00 14 00 10.50 40
      66 words
    • Article
      Palm oil
      128 8 THE following Palm Oil prices were quoted In London on Thursday The prices are elf Rotterdam and are quoted In US dollars per long ton unless otherwise stated. Thursday Prev. Malaysian 5% ffa bulk 485 sir Dec unch Jan 458 sir 450 sir Feb 458 sir 450 sir
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    • Article
      Produce prices
      234 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk <74 aeUen, old drum *79 sellers, new drum $84 sellers Copra: Mixed (looae) UK/Cont $46 buyers. Pepper: Muntok AST A white f.o.b. 100% NLW $317* sellers, Sarawak white f.o.b. M* NLW $300 sellers. Sarawak special
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    • Article
      Gold
      353 8 THE gold price continued its fall in the Singapore market yesterday. From an opening level of U*****.75 It drifted through most of the day to $130.00 but finding no support at that phsycologlcal point quickly dropped near the end of the day to close at $128.00. There was a
      353 words
    • Article
      Copper
      211 8 LONDON, Thurs. Copper wirebars declined by mostly £6.50 per tonne. Values fell back on the pre-market under general liquidation prompted by the continued resilience In sterling and the decline In gold, dealers said. Three months traded from £815 per tonne down to £809 before some covering developed following a
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    • Article
      Zinc
      78 8 LONDON, Thurs Zinc was £1.75 down for Cash and £1 lower for Three Months. The market was rather quiet during ring dealings but a steady undertone was evident with underlying trade buying support following recent physical sales to the US and reports of some continental offtake today. Three Months
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    • Article
      Sugar
      206 8 LONDON, Thurs. Terminal sugar was £0.35 to £1.50 per long ton down from Wednesday at the end of the first call much about In Une with overnight kerb levels dealers said. They added the market was possibly heslstant In front of F O Llcht's third European beet crop estimate
      206 words
    • Article
      Soybeans
      179 8 CHICAGO, Wed. 1 Soybean futures continued i their early advance to finish the session with gains of 201/2 to 4-1/2 cents a bushel. 1 Lack of speculative buying Interest brought initial easiness but prices firmed on commerlcial buying j nearby and strength in corn 1 futures. Spread buying of
      179 words
    • Article
      Wheat
      159 8 CHICAGO, Wed. Wheat futures failed to hold small early gains and wer<? depressed by late selling -cnre to close 2-3/4 to 6-1/. a bushel lower. After Initial softness, lossess were recovered and small gains were posted as corn and soyabean futures advanced. But the uptrend lacked follow-through and belief
      159 words
    • Article
      Silver
      245 8 LONDON Thurs Silver lost between 3.8 and 4.8p per troy ounce. The easy overnight New York close, currency factors and the continued downturn in gold remained the depressing influences throughout morning trading, dealers said. On the pre-market, values were mostly marked down In thin trading to a low to
      245 words
    • Article
      Coffee
      219 8 LONDON, Thurs. Robusta futures opened Irregular, £15 to £55 down from Wednesday's close with 758 lots traded. Trading was fairly brisk with Mch attracting most of the interest and trading in a range of £2,200 down to £2,170 with 430 lots traded. Dealers said stoploss selling and a continuation
      219 words
    • Article
      Rice
      127 8 BANGKOK, Thurs. Indicative prices for rice quoted yesterday were: US dollars per tonne fob basis Bangkok: Loonzaln: Unchanged Parboiled: Unchanged Maize: Unchanged In HONGKONG, the market was quiet with prices down 30 to 40 cents per plcul. The day's turnover totalled 393 tons comprising Thais 116, Kwangtungs 189 and
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  • MONEY AND EXCHANGES
    • Article
      Singapore
      570 8 STERLING opened higher by about US one cent in Singapore yesterday at U551.6680/90 from the previous day's level of $1.6520/30. Although trading was limited to small packages, there was a prevailing sentiment among dealers that the IMF discussions will swing In favour of Britain. Against the Singapore dollar, the
      570 words
    • Article
      Asian $ rate
      110 8 Asian rate ASIAN cun rate* u at ck «ncy deposit interbank we on Nov. 11. U8D0IU1 ra(8»a«> Offer BM 7daya lmth 2 mUu 3 mtha mtha 8 mtha IS mtha 9 1/16 S V* 9 3/8 SI/11 9 13/18 8 3/18 8*. Fit. 4 19/18 8 9 1/4 9 9/18
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    • Article
      Discount market
      6 8 Source: National Discount Co
      6 words
    • Article
      Euro $ rates
      211 8 Euro rates LONDON, Thurs. The recent quiet trend continued In early Eurodollar deposit trading where day to day rates opened unchanged and the loss of the Friday dealings technicality made for a higher opening in near periods, dealers said. A light rollover calendar and continuing lack of prime name Interest
      211 words
    • Article
      London
      395 8 LONDON, Thurs. Sterling held overnight gains made in US and Far East trading and was quoted at U551.6655/70, 0.60 cents up on Wednesday's London close, dealers said. Increasing market confidence that the problem of the sterling balances Is being dealt with at the highest level, following UK economic adviser
      395 words
    • Article
      New York
      161 8 NEW YORK, Wed. The dollar closed slightly firmer on balance here, mainly reflecting sterling's sharp recovery, dealers said. Sterling's improvement was accompanied by unwinding of speculative positions against continental currencies, they said. Sterling closed U551.6640/ 51 from 91.6605/15 In London and $1.6480/90 overnight, amid expectations that a solution
      161 words
    • Article
      Tokyo
      101 8 TOKYO, Thurs The US dollar for overnight dellvery closed at 295.25, unchanged from Wednesday's close, after opening lower at 295.00. Dealers said the US currency was edging up with covering by Japanese banks to meet the high level of import settlement needs early week. Trading was moderate. Dollars for
      101 words
    • Article
      Hongkong
      140 8 HONGKONG, Thurs. The US dollar held most of Its late morning gains to be quoted In late trading at HK54.7610/7630 compared with $4.7620/7640 at midday and a new 10 month low in early business today of $4-7500/7520, dealers said. Despite the recovery by the US dollar, interest rates on
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    • Article
      Minimum lending rates (in %)
      57 8 Minimum lending rates (in ACBC 6*. Algemene Bank 7 Bangkok Bank 7W Bank of America 6*1 Bank of China .7V* Bank of Tokyo Bank Negara Indonesia Chartered Bank .8* Chase Manhattan DBS First Chicago 6V« Citibank 6*« HSBC 7 Indosuez 7 Malayan Banking 6V« Mitsui Bank 6% OCBC 6%. OUB
      57 words
    • Article
      Australia/NZ
      55 8 Australia/ NZ exchanges quoted on Nov. 18 Australia: Sterling: 0.7463/ 0.7385 US dollar: 1.2383/ 1.2333 Ninety day air mall buying rates: Sterling: 0.7801, US dollars 1.2666 Ninety day forward buying rates: Sterling: 0.7555 US dollar 1.2223 New Zealand: Sterling: 0.5863/ 0.5829 US dollar: 0.9772/ 0.9672 Ninety day forward rate:
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    • Article
      Zurich
      40 8 ZURICH EXCHANGES QUOTED ON Nov. 18 US 2.4439-4446 UK 4.0330-0355 Can 2.4945-4960 WGerm 100.91-98 Neth 96.56-63 France 49.00-49.03 Belg 6.58-3/4-59-1/2 Denm 41.19-22 Norw 46.27-31 Swed 57.84-87 Italy 0.2824-2826 Austria 14.20-22 Port 7.76-78 Spain 3.57-57-1/2 Arg 1.25-2.25 Japan 0.82-3/4 83-1/4
      40 words
    • Article
      Frankfurt
      32 8 FRANKFURT: exchanges opening quotes on Nov 18. US 2.4237/52 Can 2.4715/30 UK 4.035/050 Neth 95.60/75 Swltz 98.97/99.12 Italy 2.792/807 France 48.50/65 Norw 45.85/89 Belg Com 6.51/53 Belg Fin 6.50/51 Japan 0.8205/20
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    • Article
      Eurobond prices
      296 8 LONDON, Thurs. Eurobonds traded steady to slightly firmer in moderate turnover, dealers said. US dollar bonds firmed around 1/4 point and UK Issues met some demand, dealers added. Canadian bonds also tended slightly firmer in increased turnover. Oullder bonds continued quietly mixed while mark issues tended higher In
      296 words
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      Page 8 Advertisements Column 1
      442 8 You have only one face make die best of it. Advice from Business Times. m IJ'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 of
      442 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon A sharp rise in tanker buildup affects rates
      220 9 Reuter LONDON. Thurs. A sharp buildup in tonnage availability In the Mideast Qulf is beginning to have a bearish influence on tanker rates, tanker sources say. London shlpbroker Da vies and Newman says that as of Nov 15 spot tonnage in the
      Reuter  -  220 words
    • Article
      Lock icon 'More stable car mart''
      73 9 AP LOS ANGELES,Hhurs. A top Toyota executive in the United States predicts the car market next year will be "much more stable and much more typical" than 1976. The forecast came yesterday from Mr. Norman Lean, vice-president for general operations of Toyota's US operation. He predicted
      AP  -  73 words
    • Article
      How S'pore freight forwarders can compete with giants
      846 9  -  By TERESA LIM FREIGHT forwarders in Singapore are facing the great discomfort of being in surplus. This excessive supply situation has already caused some of the smaller local companies to close down. Even the eight or 10 internationally-based companies which can lay
      846 words
    • Article
      Lock icon KUWAIT PASSES LAW TO EASE PORT JAM
      64 9 Reuter KUWAIT, Thurs. A law published in the Kuwait official Gazette authorises the Kuwaiti port authorities to sell by auction any imported goods remaining in the ports for more than 90 days, In order to ease congestion. Industry sources said some freighters have
      Reuter  -  64 words
    • Article, Illustration
      IN PORT
      415 9 PASIR PANJANG WHARVES May Carp (18/11 0700) (695-805) CB 1 Mekati 1500 after Selamat Datang) (*****350) (Unallocated on 18/11) CB 7 Merowah (18/11 1830) (1060-1140) CB 4 Selamat Datang (18/11 1500) (1265-1325) CB 7 Shuhel Maru (18/11 1500) (1150-1255) CB 5 Sun Bright (18/11 0700) (815-890) CB 2
      415 words
    • Article, Illustration
      Lock icon A special 150-strong squad guards the Paris Metro stations
      534 9 Reuter PARIS, Thurs. After a "Wild West" hold-up and a fatal mlx-up Paris police have started special underground railway patrols to stop Metro stations turning Into sub-terranean Jungles. A 150-strong squad prowls round the main trouble spots In the 277 stations
      Reuter  -  534 words
    • Article
      Lock icon Quiet day on freight mart
      156 9 AP LO. "XDN, Thurs. Falling Tran tlantlc grain rates gave ture to a quiet day's chart, 'g yesterday as severely reduced demand became evident on the major grain routes. The sharpest rate decline was noted on the US GulfHolland trade when the 75,000-tonne "Barbro" accepted
      AP  -  156 words
    • Article
      Lock icon BEIRUT AIRPORT REOPENS TODAY REPORT
      91 9 Reuter BEIRUT, Thurs. Beirut airport will reopen tomorrow for the first time since the end of June and Middle East Airlines will immediately resume flights into the capital, officials quoted by Beirut Radio said. The radio quoted civil aviation director Zuhelr Baydoun as announcing tomorrow's
      Reuter  -  91 words
    • Article
      Lock icon Braniff- BA talks on Concorde
      79 9 Reuter DALLAS, Thurs. Braniff Airways Inc said it is discussing with British Airways an interchange agreement which would provide Concorde flights between Dallas/Fort Worth and Washington and a one-stop service between Texas and London. Braniff said It would operate the Texas to Washington leg at
      Reuter  -  79 words
    • Article
      Lock icon Korea Bank takeover
      63 9 AP SEOUL, Thurs. The Korea Development Bank has taken over 50 per cent of the General Motors Korea (GMK) stock from Shinjln Motor Co., The US Korea Joint venture cars maker here said today. General Motors Corp. of the United States controls the other 50 per cent
      AP  -  63 words
    • Article
      Lock icon $23m Boeing jetfoil
      63 9 AP SEATTLE, Thurs. A Japanese ferry company has ordered a Boeing Jetfoll for USS9.2 million (523 million) subject to approval of the Japanese Government. Sado Klsen Kalsha of Nllgata plans to operate the 294-passenger letfoll over the 34-nautlcal mile run between Nilgata on the Island of Honshu
      AP  -  63 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      552 9 ARRIVALS Service Operator Number Local Time From CPA PAA JAL CX003 PA841 JL712 0145 0950 1000 HKG SFO/HNL/GUM HLP SIA GIA GIA SQ211 GA980 GA908 1010 1030 1100 HLP HLP MES PAL KLM PR501 KL833 1115 1150 MNL AMS/ATH/ KHI/CMB SIA SIA SN SQ201 SQ240 SN287 1200
      552 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      207 9 in/IGHT HOLIDfIV/ The Executive's Travel Agent Suite 102, Cathay Building. Mount Sophia. Singapore 9 Telephone *****2. t MONTHLY ECONOMIC HEPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE £0 s ASIA RESEARCH BULLETIN This unique publication offers businessmen eoch month a comprehensive guide to the latest developments that have taken
      207 words
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  • Article, Illustration
    Charges against' Gang of Four'provide a glimpse of power game in Peking
    1101 10  -  By FOX BUTTERFIELD THE flood of charges made against Chiang Ching, Mao Tse-tung's widow, and three other politburo members since their arrest last month has provided analysts of Chinese affairs here with a rare glimpse into the inner
    1,101 words
  • Article, Illustration
    Lock icon The reasons why war in Rhodesia is escalating
    739 10  -  2.000 BLACKS KILLED SINCE THE FIGHTING BEGAN By JACQUES CLAFIN UPI "SINCE the communique Issued yesterday a further 29 terrorists have been killed by security forces." In themselves, the statistics rolled out in dally communiques tell little of precisely what goes on
    UPI  -  739 words
  • Article, Illustration
    Lock icon BELGRADE'S SWEET AND SOUR TALKS
    750 10  -  By C.L. SULZBERGER NYT THIS week's Brezhnev-Tito colloquy in Belgrade is a most important dialogue and also one about which little apart from formal statements will be known at least for months to come. Marshal Tito, the first man to thumb his nose at Stalin
    NYT  -  750 words
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      143 10 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)
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  • Article
    Problems facing consumer co-ops
    133 11 CONSUMER co-operatives In Singapore form a small proportion of total cooperatives because there are considerable obstacles against them, according to Mr. I.e. Baptist, secretary of NTUC's Welcome supermarkets co-operative. Writing in the Registry of Co-operative Society's publication '50 years of cooperation', he said that consumer co-operatives
    133 words
  • Article
    NUMBER OF CARS STILL FALLING
    125 11 THE number of cars in Singapore continues to decline, although at a much reduced rate, and it may be that the car population has found equilibrium. From 368,000 in 1973, the private car population has dropped to about 278,000. The number of motorcycles and scooters
    125 words
  • Article
    Lock icon Expo '81 gets green light
    105 11 AP PARIS. Thurs. The International Bureau of Expositions yesterday gave approval for registration of Expo '81 as a world's fair in the Los Angeles area, subject to signature of a letter of Intent by President Ford. The letter from the United States Government has been
    AP  -  105 words
  • Article
    Lock icon ' Global slowdown is around the corner'
    450 11 Global slowdown is around the corner' STARTING IN U.S. IN 1978 Reuter LONDON, Thurs. A world-wide business slowdown will begin in the United States In 1978 and spread to Europe the following year. It will seriously retard the growth of even the strongest countries, such as Germany, and cause American
    Reuter  -  450 words
  • Article
    Lock icon President-MD of Air Siam quits
    366 11 Reuter UPI BANGKOK, Thurs. Air Siam, Thailand's privatelyowned international airline, today announced that its president and managing director, Mr. Virachai Vannukul, had resigned. Mr. Virachai, boss of the airline for the past five years, will be replaced from tomorrow as president and managing director by
    Reuter; UPI  -  366 words
  • Article
    Lock icon Tito wins promise of Soviet respect
    246 11 AP BELGRADE, Thurs. President Tito yesterday won a fresh promise of Soviet respect for the independence of Yugoslavia and its communist party. A communique issued at the end of three days of talks between Mr. Tito and Soviet leader Leonid Brezhnev used new language
    AP  -  246 words
  • Article
    Lock icon SADAT URGES TOP U.S. PRIORITY FOR M-E
    267 11 UPI CAIRO. Thurs. Warning against the gravity of the Middle East situation, President Anwar Sadat has asked the United States to give top priority to and make proposals for a speedy settlement of the ArabIsrael conflict. "The Middle East conflict is the most
    UPI  -  267 words
  • Article
    Lock icon Thammasat to reopen classes
    85 11 AP BANGKOK, Thurs. Thammasat University, site of the bloody riots that led to a military coup last month, has announced it will reopen classes on Dec 1, following nearly two months of military occupation. Engineers have worked round the clock on repairing the university buildings damaged
    AP  -  85 words
  • Article
    Lock icon Will a new phoenix rise from ashes of Lebanon
    785 11 AP BEIRUT. Thurs. The coffee shop wags of Beirut are already addressing one another in mock Syrian accents. Kakhi-clad Syrian soldiers are strolling down Bei- rut's seaside avenues. Their on-duty comrades are trying meanwhile to direct chaos-prone Lebanese traffic. "I think
    AP  -  785 words
  • Article
    Lock icon MINISTER TO MAP OUT ANTI-RED PLANS
    170 11 AP BANGKOK. Thur». Interior Minister Samak Sundaravej flew to southern Thailand today to map out plans to counter the growing communist insurgency and' to inspect the scene of the Tighting in Surat Thani Province between terrorists and village volunteers in which 17 troopers were
    AP  -  170 words
  • Article
    Garrard's $2mil show at Shangri-La
    129 11 THE Crown Jewellers. Garrard, will present a $2 million exhibition of "rare jewels and fine silver" from Nov 27 to 29 at the ShangriLa Hotel. Special feature of the exhibiton will be silver designed to commemorate the Silver Jubilee of Queen Elizabeth next year, as
    129 words
  • Article
    Lock icon Mexico 'resorts' to tourism
    257 11 AP MEXICO CITY, Thurs. Mexico is turning to tourism to help pull it out of its worst economic crisis in decades. The selling point is the peso, which since September has dropped in vaiue almost 50 per cent against the US dollar. The current rate of
    AP  -  257 words
  • Article
    Lock icon Powerful blast to a new height
    129 11 UPI HONGKONG, Thurs. China exploded the most powerful nuclear bomb which her scientists have developed in a dozen years of testing yesterday and said it "raised the level of China's nuclear weapons to a new height." American monitors said the blast, the fourth by
    UPI  -  129 words
  • Article
    YOUNGER GROOMS
    70 11 MEN are marrying at an earlier ace, according to the latest statistics from the Registrar of Marriages. The average age for first marriages was 27 in 1975 against 28 in 1974. For remarriages, there was a cor- responding decrease from 42 to 41 Women on the other hand
    70 words
  • Article
    Lock icon Decision to deport two sparks protest
    221 11 AP LONDON, Thurs. The British Government's decision to seek to deport two Americans on security grounds sparked off a wave of protest here today. Newspapers demanded the Government reveal the facts behind Its move against US Central Intelligence Agency critic Philip Agee and reporter
    AP  -  221 words
  • Article
    Lock icon US beef prices looking bullish forecast
    227 11 AP WASHINGTON. Thurs. American consumers who have seen beef prices fall steadily from last year's highs can expect to pay record prices to put beef on the table in 1977, a US Agrlculture Department economist predicted yesterday. Retail beef prices will soon begin climbing
    AP  -  227 words
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      230 11 Tenders are Invited for the following 1 Supply and Delivery of Machines and Equipment (Toolmaker's Lathe, Milling Machine, Filing Machine, Spark Erosion Machine, Toolmaker Milling and Boring Machine, etc) and other Supporting Tools, Metrology and Measuring Equipment (Toolmaker's Microscope, Pin Gauges, Optical Comparator, Vernier Caliper, etc) for Tool and Die
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  • Article
    Lock icon Wine makers seek $24m to settle debts
    268 12 AP PARIS, Thurs. The owners of Chateau Margaux said yesterday they are negotiating with potential buyers to pay off at least US$lO million (5524.5 million) in debts. The owners, Pierre and Bernard Ginestet, refused to say what price they are seeking or to
    AP  -  268 words
  • Article
    Panel to review Rent Act
    278 12 KUALA LUMPUR, Thurs. A 15-member committee has been set up to review the Rent Control Act of 1966. The committee Is headed by the Parliamentary Secretary to the Ministry of Local Government and Federal Territory, Dr. Ling Llong Sik. The Inaugural meeting of the committee
    278 words
  • Article
    Lock icon Dr K on how to do business
    156 12 AP WASHINGTON, Thurs. American businessmen operating in developing countries''must be free of harassment and unreasonable restraint," Secretary of State Henry Kissinger told a science and technology conference yesterday. However, Dr. Kissinger said, they are obliged to make an economic and a social contribution
    AP  -  156 words
  • Article
    LONDON STOCKS
    797 12 LONDON. Thurs. The stock market was quietly firm today with stronger sterling helping sentiment. Belief that the IMF loan conditions may be stricter than expected also contributed to the gain. At 3 p.m. the Financial Times Index was up 8.5 at 319.6. There was a slight downward reaction
    797 words
  • Article
    Growing plants without soil query
    193 12 THE fate of hydroponics or "soil-less cultivation" will be queried by the Member of Parliament for Toa Payoh, Mr. Eric Cheoaur Yuen Chee when the house sits on Nov 24. The question he filed asks the Minister for National Development and Communications when the public
    193 words
  • Article
    KOYO TO GET $200,000 TRAINING GRANT
    190 12 A $200,000 training grant has been awarded to Koyo Singapore Industrie* by the Economic Development Board. The grant to the $50 million Koyo Singapore project scheduled to start production around mid-1977, is intended to strengthen the company's nucleus of skilled craftsmen and technicians during
    190 words
  • Article
    Lauw files writ
    55 12 A WRIT was filed at the High Court yesterday by Lauw and Sons against Yang Yu Tsai for $128,425 allegedly due under an agreement. Lauw and Sons is owned by Mr. Lauw Tjin Ho, an Indonesian millionaire with extensive business interests, and prominently featured in the Wee
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  • Article
    Meetings may not be held on time
    712 12 GAME OF BLUFF REACHES STAGE WHERE FROM Kuwait last night, AP reported that the Organisation of Petroleum Exporting Countries Opec will hold its ministerial meeting as scheduled Dec 15 without having to await the outcome of the Paris North-South Dialogue according to Minister
    712 words
  • Article
    KL concern over 'exodus' of skilled workers
    266 12 PETALING JAYA, Thurs. The Goverment is "gravely concerned" over the migration of many skilled workers to other countries, causing a labour shortage for development projects in Malaysia. Trade and Industry Deputy Minister Datuk Mohamed Rahmat said this when speaking at the opening of
    266 words
  • Article
    Lock icon Where capital is needed without delay
    309 12 AP MANILA, Thurs Large investments for Irrigation and fertiliser are needed without delay if the world expects to feed its growing population, the retired director of the International Rice Research Institute said yesterday. Dr Robert Chandler told the 16-nation Asia-Pacific food production conference that
    AP  -  309 words
  • Article
    Lock icon Cutbacks on rice in Japan to continue
    156 12 Reuter TOKYO, Thurs. Japanese Finance Mlnlstrv officials said Japan will need to continue its rice production cutbacks next year with a view to checking a further rise in the government's rice stock holdings and deficits in Its food control account. Despite a poor
    Reuter  -  156 words
  • Article
    HOW LAMIPAK BAGGED ITS SUCCESS IN PACKAGING
    779 12 SIX years ago, Lamipak Industries was just another small plastics packaging company competing tooth and nail with all the others for a share of the limited domestic market. Today, Lamipak has increased its paid-up capital from $120,000 to $1.5 million, exports 80 per
    779 words
  • Article
    FEAR OF FREIGHT RATE HIKE AGAIN
    166 12 THE recent increase in oil prices for ships calling for bunkers here has sparked fears that shipping companies may retaliate with another round of hikes n freight rates. Shipping sources said that although such hikes may be considered unnecessary at the present moment, they
    166 words
  • Article
    Just like Brut?
    42 12 FABERGE International will be launching a new perfume, "Cavale", in Singapore next month. Its manufacturers hope that its success will follow "Brut"s, Introduced about 12 years ago. Faberge with headquarters in New York, was established about 30 years ago.
    42 words
  • Article
    Two more named for polls by PAP
    153 12 THE People's Action Party yesterday announced two more new candidates for the coming general election bringing the number of new candidates to eight. They were Mr. Teo Chong Tee and Enclk Sldek bin Sanlff. Mr. Teo, 34, Is head of §assenger check-in for
    153 words
  • Article
    Lock icon Round 2 of US-Soviet fisheries talks
    155 12 AP WASHINGTON, Thurs. The United States and the Soviet Union opened the second round of negotiations yesterday on a new agreement governing Soviet fisheries operations once the United States extends Its fisheries jurisdiction to 320 km on March 1. The talks are scheduled to
    AP  -  155 words
  • Article
    Lock icon Another date proposed on Rhodesia
    315 12 AP GENEVA. Thurs. Mr. Ivor Richard, chairman of the Rhodesian settlement talks, today proposed a new compromise on the date for Rhodesian independence to black African hardliners. Joshua Nkomo and Mr. Robert Mugabe who are refusing to return to the conference until their demands are
    AP  -  315 words
  • Article
    NPB course on Low Cost Automation
    139 12 LOW Cost Automation (LCA), which is ideal for small and medium-sized industries because it makes automation of a part of a manufacturing line or certain operations possible, will be the subject of a National Productivity Board course scheduled for next year. The integrated course
    139 words
  • Article
    Foreign holdings of share capital drops
    152 12 KUALA LUMPUR, Thurs. The proportion of foreign holdings of share capital in Malaysia's corporate sector has dropped from 60.1 per cent in 1972 to 54.9 per cent last year, Public Enterprises Minister Datuk Haji Mohamed Y'aacob told the Dewan Rakyat today. The proportion figures
    152 words
  • Article
    Lock icon CLOSER TIES WITH U.S. BUT NO BASES: THANIN
    269 12 UPI BANGKOK. Thurs. Prime Minister Thanin Kralvichlen today predicted closer relations between Thailand and the United States, but said they will stop short of another US military buildup. Mr. Thanin told the first formal news conference he has held since taking office
    UPI  -  269 words
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