The Business Times, 22 December 1976
1976-12-22
1
12
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The Business Times
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Title Section10 1976-12-22 1 BUSINESS TIMES M.C.(P) 14.55/76 WEDNESDAY, DECEMBER 22, 1976 50 CENTS10 words
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NEWS IN BRIEF
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Article70 1976-12-22 1 AP VIENNA, Tues. Five developing countries will receive the first grants from a special aid fund set up by the Organisation of Petroleum Exporting Countries (Opec), officials disclosed today. The recipients, whose representatives will attend the ceremony in Opec's new headquarters here, will be Sudan,to receiveAP - 70 words
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Article51 1976-12-22 1 UPI WASHINGTON, Tues. The cost of living in the United States rose a moderate 0.3 per cent in November, reflecting the first decline in food prices since March, the Labour Department said today. The Increase works out to a 3.6 per cent yearly rate of inflation.UPI - 51 words
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Article61 1976-12-22 1 THE Prime Minister estimates that the two-tier price hike announced by the Opec members will probably raise Singapore's fuel bill by 7V* to 8 per cent. Because of the split between Saudi Arabia and the United Arab Emirates and the other Opec members, Singapore will probably not61 words
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Article41 1976-12-22 1 UPI LONDON, Tues. The pound opened virtually unch or, S9d against the dollar today. Dealers quoted sterling at U551.6820 as against yesterday's closing $1.6815. Gold opened slightly higher, trading at $133.60 an ounce as against yesterday's closing of $132.13.UPI - 41 words
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Article64 1976-12-22 1 hits low in HK HONGKONG, Tues. Despite a late rally, the US dollar in Hongkong today closed at a 21-month low against the Hongkong dollar. The dollar opened at HK54.7180/ 7230 and traded against a wide range of $4.7080 to $4.7100/ 7150 at midday and a low of $4.7020/ 7040.64 words
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Article87 1976-12-22 1 UPI TOKYO, Tues C. Itoh and Co, Japan's fourth largest trading house, and the deficit-ridden Ataka and Co, will sign a memorandum for merger at a top-level meeting within this year, business sources said yesterday. The sources said the two trading houses and Sumitomo BankUPI - 87 words
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Article45 1976-12-22 1 UPI RAWALPINDI, Tues Sweden will provide a US$5 million (5512.25 million) grant to Pakistan as development assistance for the next financial year. nan the grant is untied. The other half will be used to buy goods and services in Sweden. UPIUPI - 45 words
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Article44 1976-12-22 1 UPI NEW YORK, Tues. Dow Jones averages, based on the first hour of trading today on the New York Stock Exchange: 30 Indus 970.25, down 2.16: 20 transp 233.17, down 0.45; 15 utils 105.00, down 0.04; 65 stocks 316.04, down 0.58. UPIUPI - 44 words
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Chief Price Changes
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Article, Illustration198 1976-12-22 1 SHARES ended on a mixed note at the Stock Exchange of Singapore yesterday. After a steady opening profit-taking set in to trim gains, with some counters ending in minus territory. The Business Times and the Straits Times Industrial indices were both fractionally higher at 263.33 and 252.56198 words
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Article117 1976-12-22 1 Rites E. Asiatic F.E.L'ston Wilkinson Pan Elect. Malex Cen. Prop. AJlnomoto F Cables W. Jacks $2.95 $2.86 $3.16 $1.94 $1.88 $1 46 $1.90 $0.83 $1.25 .85 .10 .10 09 .06 .06 .05 05 .05 Foil* Pegl M 'sla HongLeong N.B.T. C. Storage E.N.E. Matsushita Supreme Corp. $5117 words
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Article1539 1976-12-22 1 GLOBAL BID TO CREATE A NEW ORDER AP IT BEGAN to become clear yesterday that an International effort is In process, at the very highest levels, to resolve the Middle Eastern problem. The Immediate trigger for this effort was the Opec meeting last week thatAP - 1,539 words
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Article151 1976-12-22 1 KUALA LUMPUR, Tues. Datuk Hussein Onn announced today the raising of a third army division to combat the possibility of the Communist Party of Malaya stepping up Its terrorist activities. The division will be based In Peninsular Malaysia. Prime Minister Datuk Hussein Onn who151 words
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588 1976-12-22 1 WITH the recession in the shipbuilding industry likely to last tin the early 1980s at least, the entire financial strength of the Keppel Group is now being brought into play to support the marketing and sales thrust of its subsidiaries and associated companies.588 words
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Article324 1976-12-22 1 Reuter MANILA. Tues. Thai Foreign Minister Upadlt Pacharlyangkun said today Thailand was ready to exchange ambassadors at any time with Vietnam In the interest of regional harmony. '"Hie sooner the better," he told Reuters aboard the Presidential yacht, where he had been accompanying Thai PrimeReuter - 324 words
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Article111 1976-12-22 1 AP TOKYO, Tues. Japan and representatives of the European Economic Community (EEC) opened a twoday meeting today to discuss EEC demands for Japan to curb its ship exports to Europe. Japanese sources said the EEC is also expected to propose that an agreement be reached on sharing newAP - 111 words
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Article94 1976-12-22 1 Reuter JAKARTA, Tom Prwident Suharto today headed a Cabinet meeting to discuss the money and capital market which will probably open at the end of next month, official sourcss aaid. They aaid the Government will lend the Indonesian Development Bank (Bnpindo) US$25 million (5561.2 million) at the centralReuter - 94 words
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253 1976-12-22 1 A WARNING that certain election statement! by opposition groups could drive away foreign investor* and jobs from Singapore was given last night by Mr. Chua Sian Chin, Minister for Home Affairs and Education, at the PAP mass rally in Chai Chee Avenue. "We253 words
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Article58 1976-12-22 1 Reuter SYDNEY, Tues. Members of the International Air Transport Association (lATA) today decided to Increase air fares out 6f Australia by 10 per cent from Feb 1, next year, to counter the recent devaluation of the Australian dollar. An lATA spokesman said after a meeting here theReuter - 58 words
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492 1976-12-22 1 THE Prime Minister, Mr. Lee Kuan Yew, yesterday spoke of the efforts made by the People's Action Party to build up future leaders of calibre to take over when the present leadership goes. Mr. Lee said he and his colleagues are492 words
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Article36 1976-12-22 1 Reuter TOKYO, Tues. Mr. Takeo Fukuda, almost certain to become Japan's new Prime Minister next Friday, hopes to have talks In Washington early next year with President-elect Jimmy Carter, lnforme sources said todav Reutec.^Reuter - 36 words
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Article98 1976-12-22 1 SINGAPORE'S domestic money market took an unexpected turn yesterday when the overnight rate shot up to as high as 10 per cent in exciting trading conditions. The market, according to dealers, was quite tight following withdrawals to meet year-end bonus and 13th month payments and the98 words
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Page 1 Advertisements
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Advertisement84 1976-12-22 1 With a Reputation for Unrivalled Security and Fair Dealing over 131 years, Our Clients can be Assured... Royal Insurance ItwiorponHd m twain* I looks after you. Fast 18th Fir., Ocean Building, Collyer Quay, Singapore 1. Tel: ***** *****1. INSIDE Oveneu newt/ TV 4 Radio P 2 Oversea* newt/ Features P84 words
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Advertisement131 1976-12-22 1 Bank with (hose and give yourself the Chase advantages. There arejso many banks operating in Singapore. And most of them offer the same or similar facilities. So you may well ask, why should I bank with Chase? The answer is service. The Chase commitment to service is very real. It131 words
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Advertisement158 1976-12-22 1 1 GaS has got a flame o ew i t TABOOTA The desk Ihal keeps jour accounts up to date and you out there earning If you're in business, imagine: Your accounts always up to date. Your invoices calculated and completed Statements prepared. The payrolls done. Ledgers controlled. Stock records158 words
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OVERSEAS
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173 1976-12-22 2 Reuter LONDON, Tues. Middle East and North African oil refining capacity is likely to grow to 18 per cent of world capacity in 1980 from six per cent in 1973, according to a study by market research consultants Frost and Sullivan. The 19 countries coveredReuter - 173 words
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Article115 1976-12-22 2 Reuter NEW DELHI. Tues. The Soviet Union will consider an Indian request for 5.5. million tonnes of crude oil over the next four years, Samachar new agency said. India would order one million tonnes in 1977 and 1.5 million tonnes in each of the following years.Reuter - 115 words
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412 1976-12-22 2 BECAUSE OF WEST'S STOCKPILING UPI PARIS, Tues Industrialised nations stockpiled so much oil In anticipation of last week's price rises that world demand Is likely to fall by about 10 per cent In the next four months, according to officials of the International EnergyUPI - 412 words
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Article214 1976-12-22 2 UPI CAIRO, Tues. The 11 member-states of the Organisation of Petroleum Exporting Countries which decided to raise pflces by 10 per cent will cut down production to compete with the lowerpriced Saudi crude on the world market, Kuwaiti Oil Minister Abdel Kazeml said yesterday.UPI - 214 words
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Article148 1976-12-22 2 Reuter NEW YORK, Tues. World demand for oil from Opec countries is likely to peak this year at 29.6 million barrels a day and decline gradually from 29.4 million in 1977 to 27.5 million in 1980, Irving Trust energy economist Arnold Safter said. Presenting aReuter - 148 words
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377 1976-12-22 2 UPI TOKYO, Tues. The fourth big oilfield to be discovered In North China Is now being developed In Llaonlng Province about 200 kms north-east of Peking, the financial newspaper Nlhon Keizai said today. The newspaper has a long record of accurate forecasts ofUPI - 377 words
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Article134 1976-12-22 2 AP WOLFSBURG, (West Germany) Tues. Volkswagen's group sales climbed to about 21.6 billion marks (Ss22 billion) this year, up 15 per cent from 1975, the German carmaker said today. The company said the 1976 figure had erased losses carried forward from the two precedingAP - 134 words
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803 1976-12-22 2 Reuter GENEVA. Tues. A question-mark hangs over the future of the International Labour Organisation (ILO) which seeks to improve working conditions and project basic human rights throughout the world. Solving problems between workers, employers and governments is the ILO's main job but the intrusionReuter - 803 words
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Article123 1976-12-22 2 Reuter WASHINGTON, Tues. Next year's world grain harvest Is expected to reach a record 1.32 billion tonnes. 100 million tonnes more than the 1975-1976 harvest, the US Agriculture Department said yesterday. The department's figures were based on harvest estimates from the northern hemisphere and pre-harvestReuter - 123 words
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Article103 1976-12-22 2 Reuter TOKYO, Tues. Idemitsu Kosan Kaisha, one of Japan's trading companies, has asked Petromln of Saudi Arabia for an increase in oil supplies from the 6,000 barrels per day currently contracted. Idemitsu said it is making the request as Saudi Arabia is expected to increase firoductionReuter - 103 words
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189 1976-12-22 2 Reuter BORDEAUX. Tues. A leading French supermarket chain hat made the winning offer to purchase one of the country's best known chateau vineyards, the chateau owners said yesterday. Mr. Bernard Ginestet, comanager of Chateau Margaux which produces one of France's five elite premier grand cruReuter - 189 words
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267 1976-12-22 2 AP LONDON, Tues. British Leyland, Britain's stateowned firm of auto manufacturers, today announced plans to break Into the Japanese car scene by building up a £25 million (Sslo3 million) market there for luxury models within five years. At present, Imported cars countAP - 267 words
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390 1976-12-22 2 UPI PARIS. Tues. International economic experts agreed today that Britain's austerity program is a move in the right direction, and recommended the US$3.9 billion loan the British have requested. The recommendation was announced by Mr Othmar Emminger of West Germany, Chairman of aUPI - 390 words
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357 1976-12-22 2 UPI BANGKOK, Tues. The new leader of the Vietnamese communists is 68-year-old Le Duan, a man pulled up from his sandal straps by the late Ho Chi Minh. In a subtle shift of leadership, the Vietnamese Communist Party eliminated the post of ChairmanUPI - 357 words
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Article116 1976-12-22 2 AP MONTREAL, Tues. Quebec Premier Rene Levesque said he plans to go to New York in late January to explain to businessmen how his Parti Quebeccois intends to "govern the province. In a French Language radio interview over the weekend, Mr. Levesque said he will giveAP - 116 words
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390 1976-12-22 2 Reuter MOSCOW, Tues. The first 1,000-megawatt unit has been switched on at a central Russian power station planned to be among the biggest nuclear stations in the world, Tass New Agency said yesterday. The station near Kursk was begun in 1968 andReuter - 390 words
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356 1976-12-22 3 BRUSSELS, Tuesday UPI IN A major setback to unity, foreign ministers of the European Common Market deadlocked early today on negotiations for a joint fishing policy beginning Jan 1. "There is no possibility of agreement" at the moment, Irish Foreign Minister Garret FitzgeraldUPI - 356 words
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Article145 1976-12-22 3 UPI TOKYO, Tues. A Japanese fishing delegation has returned from Washington with the prediction that the United States will not sharply reduce the amount of fish Japan is allowed to catch in the North-East Pacific In 1977. "We are convinced that the American people wouldUPI - 145 words
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Article208 1976-12-22 3 Reuter MELBOURNE. Tues. The Melbourne University Institute of Applied Economic and Social Research said It estimated net private capital inflow into Australia will total about Asl billion (552.5 billion) In the remaining seven months of 1976-77 (Including December). In Its first postdevaluation "Australian economic review" forReuter - 208 words
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390 1976-12-22 3 Reuter SYDNEY, Tuei. A Reserve Bank spokesman •aid today's rise in the Australian dollar rate was partly due to an upward adjustment of the unit and partly to market forces. The Reserve Bank's midrate for the Australian dollar rose to U551.0668 fromReuter - 390 words
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Article60 1976-12-22 3 Reuter NEW DELHI, Tues. India had a trade surplus of 750 million rupees In the first seven months of the fiscal year which began April" an official Trade Review said. Exports rose to 27.5 billion rupees compared with 20.52 bllllofr in the same period last year whileReuter - 60 words
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Article40 1976-12-22 3 AP TEHRAN, Tues. The director of international operations for the national Iranian oil company, Parviz Mina. said today the recent Opec oil price increase of 15 per cent will cause three to six per cent inflation in 1977. AP.AP - 40 words
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Article, Illustration791 1976-12-22 3 ANN CRITTEN - By ANN CRITTEN NYT ALTHOUGH the Arab boycott office in Damascus denies it, a company can have its name removed from the boycott list by a payment in the U5525,000-to-US$4O,OOO range provided its contacts with Israel are not too visible according to a studyNYT - 791 words
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368 1976-12-22 3 BRUSSELS, Tues AP IRANIAN Finance and Economic Affairs Minister Hushang Ansary opened the first round of talks with high-ranking Common Market officials yesterday for a comprehensive trade and economic co-operation agreement. Mr. Ansary declined to say exactly wlfat will be included in the agreementAP - 368 words
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Article159 1976-12-22 3 Reuter BRUSSELS, Tues. Unemployment in the nine-na-tion European Economic Community is rising, according to the latest EEC Commission Jobs survey out yesterday. The increase over the past month was greatest in Denmark and Belgium. West Germany registered the biggest decrease. The survey, statistics supplied by nationalReuter - 159 words
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192 1976-12-22 3 AP SYDNEY, Tues. The average minimum wage for Australian men dropped for the first time In 14 years In October. But, If inflation were not taken Into account, the fall hardly matters. The government's Bureau of Statistics reported that the average minimum wage forAP - 192 words
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Article82 1976-12-22 3 Reuter FRANKFURT, Tues. Commerzbank said West Germany's trade surplus could be between 35 and 38 billion marks In 1977 against around 35 billion this year but expects real economic growth of four to 4-1/2 per cent for 1977 against this year's 5-1/2 per cent. The bank's latestReuter - 82 words
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Article105 1976-12-22 3 Reuter NEW YORK, Tues. Commodity Exchange Inc (Comex) said trading in December 1976 gold futures contracts will be limited to liquidation orders only, from today. Its board of governors stipulated new short sales in December 1976 gold futures will be permitted by parties which intend toReuter - 105 words
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Article55 1976-12-22 3 Reuter CHICAGO, Tues. First National Bank of Chicago said it is lowering its prime rate to six per cent from 6-V4 per cent effective today. The bank is only the second major bank to drop Its rate to six per cent following a cut by Morgan GuarantyReuter - 55 words
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293 1976-12-22 3 UPI AP WELLINGTON, Tues New Zealand has agreed to enter into voluntary restraint agreement with the United State* to ship 268.3 million pounds of beef to the US market next year. Overseas Trade Minister Brian Talhoys said yesterday. "While New Zealand prefersUPI; AP - 293 words
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Article29 1976-12-22 3 Reuter LONDON, Tues. The Bank of England gave a i record amount of assls- tance to the discount market to counter an acute shortage of funds Reuter.Reuter - 29 words
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260 1976-12-22 3 UPI LONDON, Tues Exchange rate targets informally agreed by the top 10 cental banks are "a likely feature of 1977." This was suggested yesterday by the Ame* Bank, the London-based merchant banking arm of American Express In Its latest review. The bankUPI - 260 words
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300 1976-12-22 3 Reuter TOKYO. Tues The outgoing Japanese Cabinet, in one of its last acts, today approved a supplementary national budget of 354 billion yen (552.800 million) designed to stimulate the national economy. The budget, to be presented to the National Diet (Parliament) in mid January,Reuter - 300 words
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Article158 1976-12-22 3 UPI NEW YORK. Tues. Egypt expects to enact legislation in January to adjust its foreign exchange rates to attract more investments, according to Deputy Premier Abdul Monein ElKayssouni. In an interview published in the New York newsletter Mideast Report, Dr. Kayssouni said Egypt is eager toUPI - 158 words
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Article84 1976-12-22 3 Reuter TOKYO, Tues. Japan's rice crop this year totalled 11.77 million tonnes, the lowest since 1971 when the crop was 10.89 million. The poor crop which compared with last year's bumper 13.16 million tonnes, was attributed chiefly to the abnormally cool summer in northern Japan and typhoonReuter - 84 words
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Page 2 Advertisements
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Advertisement174 1976-12-22 2 V n i,(,OT L A \r/j s m r > r V m* 12 S3^ rk X., t\ o < N i>£ M D 2Chivas Regal Scotland's prince of whiskies It's waited 12 years for you. Another fine product brought to you by hf ood beverage (private) led. 875 HI174 words
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Page 2 Miscellaneous
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Miscellaneous51 1976-12-22 2 TT WEATHER report for 24 hours prior to 7.30 p.m. on Dec 21 at Singapore airport. Maximum temperature 30.0° C Associated humidity 69 Minimum temperature 23.3° C Associated humidity 100 Hours of sunshine 6.00 Rainfall in millimeters 0.2 Total rainfall for the month 13K.9 Total rainy days for the month51 words
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Miscellaneous290 1976-12-22 2 RADIO TV SINGAPORE 5 Eve of Poll Party Political Broadcast (Malay) 0 News Newsreel in Malay 0 S.W.A.T. "Silent Night, Deadly Night" with Malay subtitles 0 Eve of Poll Party Political Broadcast (English) News in English 0 America "Home from home" The Carol Burnett Show (r) Stars in Action "The290 words
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Page 3 Advertisements
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Advertisement115 1976-12-22 3 The hot drink tl 5 r V Vf 1 VuhJ2MrJst\ How Drinkmaster provides staff or visitors with hot, freshly-made drinks without delay or trouble and at very low cost r You buy your Drinkmaster outright at very low cost. Rug into electricity supply. No plumbing required. Just fill with water.115 words
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COMPANY NEWS
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Article428 1976-12-22 4 Current Ez Date Total for Total for payment Date payable V the year previous year Premium Hold. 7.5%+ Dec 6 Dec 23 7.5%+ 12% Bukit Katil 10% Dec 8 Dec 28 10%+ 16% P.M. Holdings 7.5% Dec. 14 Dec. 29 7.5% 12.5% I*land Pen. 7% Dec. 7 Dec428 words
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COMPANY MEETINGS
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Article22 1976-12-22 4 THE following company meetings are due: Dec 23, 12 noon, 10 mile. Federal Highway Sungei Way, Selangor.22 words
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18 1976-12-22 4 Jack Chin Mining Industrial Corporation Bhd.: Dec 27, 12 noon. Registered Office, 2 B Chartered Bank Chambers, Penang.18 words
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19 1976-12-22 4 Dec 29, 9.30 a.m., Registered Office, Penthouse, 10th Floor, Wisma Central, Jalan Ampang. Kuala Lumpur.19 words
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Article19 1976-12-22 4 Dec 29, 11 a.m. Conference Room, 14th Floor, Bangunan Hong Leong, 117 Jalan Bandar, Kuala Lumpur.19 words
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Article14 1976-12-22 4 Dec 29, 12 noon, 72-A Jalan Tampoi, Johore Bahru, Johore.14 words
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Article12 1976-12-22 4 Dec 30. 11.30 a.m., 70 Jalan Ampang, Kuala Lumpur.12 words
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Article16 1976-12-22 4 Dec 30, 12 noon, The Regent of Kuala Lumpur Hotel, Kuala Lumpur.16 words
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16 1976-12-22 4 Dec 30, 12 noon. Registered Office, 16 Jalan Tangsi, Kuala Lumpur.16 words
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Article17 1976-12-22 4 Dec 31, 9.30 a.m., Registered Office, No. 45 Spottiswoode Park Road, Singapore 2.17 words
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19 1976-12-22 4 Dec 31, 12 noon, at the Hotel Merlin, 2 Jalan Sultan Ismail, Kuala Lumpur.19 words
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Article14 1976-12-22 4 Dec 30. 11 a.m.. Registered Office, 16 Jalan Tangsi, Kuala Lumpur.14 words
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18 1976-12-22 4 Jan 18, 11.30 a.m., 4th Floor Bangunan MIDF 117, Jalan Ampang, Kuala Lumpur.18 words
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Article90 1976-12-22 4 SHAREHOLDERS of United Overseas Bank have subscribed for 98.74 per cent of the recent rights Issue of 36.2 million $1 shares at a premulm of $2. The remaining 454,376 shares will be subscribed for by the underwriters: Development Bank of Singapore, Jardine Fleming (South East90 words
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898 1976-12-22 4 MALAYAN Tin Dredging expects that results for the current 12 months ending June 30, 1977 will be satisfactory after sustaining a slide In earnings over the past two years. The forecast Is made by the company's chairman, Mr. Francis George Charles worth, who898 words
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Article306 1976-12-22 4 LARGELY as a result of the lower output leading to an almost 40 per cent dive In revenue, pre-tax profit at Hongkong Tin fell 14 per cent to M 586,384 for the year ended September 1976. Total production for the period came to only 64 plculs306 words
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Article118 1976-12-22 4 This has an estimated volume of 17 million cubic yards with a recoverable grade of about 0.3S katl per cubic yard. But going by past performance, Mr. Caldwell feels that the volume and grade can only be confirmed by actual mining in view of the nature of the118 words
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Article45 1976-12-22 4 UNITED Industrial Corp said Its recent scrip issue of one-for-four by capitalising 53.54 million from Its capital reserve account was approved at an extraordinary general meeting held on December 1(L The scrip issue will increase the company 's Issued capital to $17.72 million45 words
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Article1081 1976-12-22 4 On December 20 PRICES on the Chicago Board Options Exchange on Monday retreated, with declines topping advances 414 to 62. Volume approximated 73,574 contracts, compared with 85,662 contracts last Friday. OPTION JAN APL JLY STOCK Alcoa 45 UNTRD NOL NOL 53 3/8 Alcoa SO 31/2 5 UNTRD1,081 words
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591 1976-12-22 4 THE proposed transfer of domicile from UK to Malaysia by Southern Malayan Tin Dredging will be a welcome one for shareholders as this will mean that the company will now be able to obtain new tin leases with greater ease. This move comes591 words
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455 1976-12-22 4 Reuter WASHINGTON, Tues. US Treasury Secretary, Mr. William Simon said while much remains to be done before New York City's basic economy is sound again, significant financial reforms have begun. Mr. Simon, testifying before the Senate Banking Committee said It would not be appropriateReuter - 455 words
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Article401 1976-12-22 4 FT LONDON, Tues. Turnover for the 28 weeks to October 16, 1976, of Lindustries Increased from £34.49 million to £40.97 million, and pre-tax profit advanced from £1.85 million to £3.05 million. Mr. W.E. Luke, the chairman, points out, however, that during the final six month of the previousFT - 401 words
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Page 4 Advertisements
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Advertisement396 1976-12-22 4 He is the new child in a new age. He needs the encyclopaedia for today. Britannica 3. Hi* m The child of today is more involved. More aware. And must learn 50% more than a child 20 years ago. That's precisely why yesterday's reference works can't really satisfy his needs.396 words
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INTERNATIONAL COMPANY NEWS
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534 1976-12-22 5 Reuter TOKYO, Tues. C Itoh is adopting a tough line in Its negotiations on a merger with the financially troubled Ataka, informed sources close to the talks said. They said they still believe C Itoh will give the goahead for the merger, probablyReuter - 534 words
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Article453 1976-12-22 5 FT STOCKHOLM, Tue«. Stora Kopparbergh, the Swedish steel ana forest product conglomerate, unveils new details of Its strategy for over-coming current setbacks In the prespectus for Its new 100 million kroner 1977-1902 bond issue carrying a 9% per cent Interest coupon. Pre-tax earnings fell from 411 millionFT - 453 words
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Briefly
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Article120 1976-12-22 5 ATLANTA, Tues. Coca Cola said It expects good gains in volume, net sales and earnings In 1977. It said volume gains in soft drinks should continue to be unusually strong, aided by low sugar prices, active advertising and promotions policies, the continued roll-out of the120 words
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Article50 1976-12-22 5 NEW YORK, Tues For the 12 months ended Nov 30, 1976 Commonwealth Edison has Increased net earnlnp to U*****.40 million from 9161.98 million or 93.21 per share from 92.93 per share. Operating revenue amounted to 91,888.6 million against 91,705.2 million previously. The net figures are after preferred dividends.50 words
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Article41 1976-12-22 5 WASHINGTON. Tues. The US Treasury Department said it sold US93 billion of two year notes at an average yield of 5.37 per cent. The average price was 9.775, and the Treasury seta 5.25 per cent coupon on the Issue.41 words
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Article88 1976-12-22 5 NEW YORK, Tues Pacific Telephone and Telegraph has reported that net fourth Juarter earnings rose to '8180.07 million from 882.28 million or 51 cents per share from 49 cents per share previously. The increase of five per cent in earnings was achieved on revenue of 942.5 million against 8842.088 words
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Article87 1976-12-22 5 SYDNEY, Tues. Pacific Film denied newspaper reports that Reckltt and Colman Australia will make a takeover bid for the film processor. "No discussions regarding a takeover offer for Pacific Film are taking place with Reckltt and Colman Australia or any other company," Pacific Film said In a statement87 words
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Article98 1976-12-22 5 TOKYO, Tues. Toyo Kogyo plans to import fourcylinder 2,300 cc engines from Brasll Ford Motor for mounting on trucks for export to Ford Motor of the U8 from early next year, a Toyo Kogyo spokesman said. Initial shipments of the new trucks to the US will be several98 words
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Article89 1976-12-22 5 SUNNYVALE, Tues. Lockheed Aircraft Corp said Its Lockheed Missiles and Space subsidiary, Standard Oil (Indiana's) Amoco Minerals Co unit and BUllton International Metals, a Royal Dutch/Shell group company, have agreed to work out terms for a Joint venture In deep sea mining research. The company said the object89 words
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Article87 1976-12-22 5 NEW YORK, Tues. Magellan Petroleum Corp's Magellan Petroleum Australia subsidiary said the aboriginal land rights bill passed by the Australian Parliament reasonably protects its rights under the Petroleum Ordinance covering Magellan's large interest in land holdings tn the Amadeus Basin of Australia's northern territory. The company said It87 words
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Article92 1976-12-22 5 SYDNEY, Tues. Ford Motor of Australia has announced a A 926.3 million programme to expand and upgrade Its plants In Victoria. The managing director, Mr. Brian Inglls, said this figure brought to more than 9110 million total planned Investment In Australia announced by Ford In the past six92 words
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Article65 1976-12-22 5 PEORIA. 111., Tues. The United Auto Workers Union has notified Caterpillar Tractor that UAW members at seven plants ratified a central contract agreement, a company spokesman said. The UAW said local contract agreements were ratified in the Peoria area. Aurora and Decatur, Illinois. Mentor, Ohio, York, Pennsylvania, Denver,65 words
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Article76 1976-12-22 5 LOS ANOELEB, Tues. Signal said tn reply to a query the rise and activity in Its stock represents buying by mutual funds and no attempt of a takeover. A company spokesman said Monday's activity tn the stock was the result of purchases by at least two institutions. They were76 words
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Article45 1976-12-22 5 HOUSTON, Tues. Tenneco said ItsTenneco Atlantic Pipeline subsidiary asked the Federal Power Commission for authority to build a 498-mlle pipeline in the north-eastern US to serve as a new source of supply for its Tennessee Oas Pipeline subsidiary at a cost of US92 billion.45 words
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Article191 1976-12-22 5 TOKYO, Tues. Toyota Motor foresees little growth In Its motor vehicle exports next year from this year's estimated I.l7bmllllon units which are 37 per cent above 1975. However, It said It expects domestic sales In 1977 to rise 14.5 per cent to 1.50 million units after191 words
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Article79 1976-12-22 5 LONDON, Tues. Bond market sources said Venezuela is expected to raise UBIIOO million through a seven-year Eurobond issue. They said the issue is not expected to be brought to the market for offering before the middle or January but named First Boston (Europe) as lead manager. They noted this79 words
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132 1976-12-22 5 HONOKONO, Tuea. Hut-chlson-Boag said It plana to acquire Relss, Bradley and Far Eaat Engineering and Construction currently subsidiaries of John D. Hutchison Group and Hutchison International respectively. At an extraordinary Bneral meeting on Dec 20, utchlson Boag shareholders will be asked to approve the132 words
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137 1976-12-22 5 LONDON, Tues. The House of Lords rejected an appeal by Polaroid against the end of a ban on Eastman Kodak's introduction of instant picture camar&s in Britain. Polaroid lawyer Mr. G.D. Everlngton said the company wanted the ban enforced pending trial of its patent137 words
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Article100 1976-12-22 5 MONTREAL, Tues. Canadian Pacific chairman, Mr. I.D. Sinclair said prospects for the company's transportation, telecommunication, resource development and real estate operations are bright for 1077. Rail freight revenue has Increased significantly over the past year and Mr. Sinclair forecast CP Rail's revenue will exceed 1975 levels by100 words
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Article147 1976-12-22 5 Reuter SYDNEY, Tues. On group sales up to A 53.4 million from 12.4 million. Wheelock Marden Investments (Australia) has raised net profit to 1441,705 from $200,610 for the first halfyear ended Sept 30, 1976. The company said It made two requests to the Australian Government toReuter - 147 words
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Article921 1976-12-22 5 W.R. GRACE - W.R. GRACE FT PARIS, Tuea. The American chemicals, oil and gas and consumer products concern. W. R. Grace, Is on the point of completing its withdrawal from the EuroEean packaged food uslness an enterprise It embarked on in 1902 with the aim of building an operation whichFT - 921 words
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Article163 1976-12-22 5 Reuter TOKYO, Tues. Shiseido expects to report a record net profit of 8.50 billion yen for the year ended Nov 30, 1978, 18 per cent above the 7.34 billion last year, a comKany spokesman told euter. Gross sales are believed to have totalled 228.50 billion, aReuter - 163 words
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Article94 1976-12-22 5 WASHINGTON, Tues. Pre-tax US corporate profits rose USS4 billion to a seasonally adjusted annual rate of 150.2 billion In the third quarter, according to revised figures Issued by the Commerce Department. There was no change In the pre-tax profit figure from the figure Issued last month94 words
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Article80 1976-12-22 5 DETROIT, Tues. Ford Motor said it will close its Metuchen, N.J., and Kansas City Mo., car plants for one week beginning Jan 3 to reduce small car inventories. The move will Idle 3,900 workers, It said American Motors Corp said it will Idle 9,500 workers at its80 words
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Article684 1976-12-22 5 NYT SEOUL, Tues. Lee Jae Do is a 37-year-old office worker. Kim Ki Sana is 41 and unemployed. But they have something In common: Both men own stock in Korean companies. Increasing stock market activity In South Korea is, under government prodding, coming toNYT - 684 words
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Article451 1976-12-22 5 FT FRANKFURT, Tues. Preussag l* set for far healthier result* this year than It reported In 1975. The Hanoverbased metal and chemical! group has announced that both turnover and profit* In the first three quarters have shown a considerable Improvement on figures for the comparable period ofFT - 451 words
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Page 5 Advertisements
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Advertisement442 1976-12-22 5 You have only one face make the best of it. Advice firm Business limes. 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 of442 words
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Article2034 1976-12-22 6 8ECTIONONE INDUSTRIALS Gr'i Gr't N«* 1976 La»t div Div y'ld P/E Vol Day High Low Company Safe +or- c'vr COOO) High Low 175* 135* Acma 140 12.ON 1.1 8.5 7.0 206 172 Alcom 206 20.0 1.3 9.7 13.2 m 100 60 Allied Choc 63 m 237 1852,034 words
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Article1349 1976-12-22 6 BID and offer prices officially Hated and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown In brackets In lots of 1000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "Sett." Big Board1,349 words
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Article1356 1976-12-22 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 1000 units unless otherwise specified. INDUSTRIALS Aiinamata < 1 88B) <4 > 190 Altom (2.128 2.168) Alt*.1,356 words
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Article147 1976-12-22 6 SINGAPORE UNIT TRU8T (Mui|n' price* for Dec 22) The Commerce 1.73 1.83 The aavtni Fund OM l.oi S pore Pro* Fund 0 80 0.86 S pore Security Fund 1.19 1.96 8 poreInveatFund ...1.04 110 ASIA UNIT TRUST (Manager*' prion foe Dec 23) MaI Invest Fund I N 1.77147 words
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Article75 1976-12-22 6 B O T 8 1/2% 1961 (100,000) (1038 103'fS) D B S 8 1/2% 1962 (100.000) (9100*8) DBS Converts 6 1/2% 1991 (100.000) 97HS) E I B 8 1/4% 1983 (100.000) (100B 100',S) I B J 8 1/2% 1981 (100.000) (101 *B 102S) Keppel 9% 19H3 (100.000)75 words
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Article118 1976-12-22 6 a 1/2% 15/4/78 (1,000,000) (101 588 101.68S) 5 1/4% 15/7/78 (1.000.000) (100 358 100 455) 7% 1/7/79 (1.000,000) (104.80B) 5 1/4% 15/10/79 (1,000.000) (100 658 100 80S) fi 3/4% 15/6/80 (1,000,000) (102.958 103.055) 6 3/4% 1/12/80 (1,000,000) (102 958) 3% T F 15/4/81 (1,000.000) (101 358 101118 words
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Page 6 Advertisements
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Advertisement231 1976-12-22 6 5 V' :.w'> x" s* c~~* ■$em m m i; if. y. M* \i. V-., -ri > .v«*«r Alex Josey has long been an observer, recorder and commentator of the Singapore scene. In this new book, he examines and explains the success of Singapore's tripartite alliance of Government, workers and231 words
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Article420 1976-12-22 7 PRICES finished mind la generally quiet and selective trading at the Stock Exchange of Singapore yesterday. The opening market saw some support for the third liners. But profit-taking act In later and wiped out tome of the gains. In some cases gains were turned into losses.420 words
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Article486 1976-12-22 7 THE Kuala Lumpur stock market shrugged off Initial weakness yesterday to post marginal to moderate gains at the close. After Monday's fairly substantial rally, prices eased on opening as profittaking emerged. But the easier conditions did not last and after the mldmornlng break prices staged486 words
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Article188 1976-12-22 7 REPLYING to a Kuala Lumpur Stock Exchange query, Sovran Industries says the M 52.5 million loan to parent Hong Leong (M) has beer reduced through repayments, to $790,299 to date. Sovran charges an interest rate of 10 per cent annually on the daily balance and the total interest188 words
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WALL STREET AND OTHER OVERSEAS MARKETS
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Article1067 1976-12-22 7 NEW YORK: Stocks retreated for the third consscutlve sssslon on Monday, owing partly to profit-taking and partly to normal end-or-the-yeer tax selling preasurea. Some analysts suggested that many Investors also were still trying to assess the full meaning of the two-tier price Increase announced by the Organisation of1,067 words
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Article292 1976-12-22 7 AMSTERDAM: Shares rose In dull trading on Monday, with Unilever leading Dutch Internationals higher, dealers said. Elsewhere, shippings rose strongly with most shares closing over (our guilders higher. Ahold and OCE closed slightly lower. Heineken firmed 2.10 guilders after announcing a satisfactory start to the current year. State loans292 words
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Article262 1976-12-22 7 ZURICH: The market cloeed Irregularly lower on Monday In moderately active trading, with the Opec price increases continuing to have a dampening influence, dealers said. Leading banks were generally slightly lower. In narrowly mixed flnanclals, Juvena Bearer and participation certificates firmed on short covering. Insurances were barely changed and262 words
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Article265 1976-12-22 7 FRANKFURT: Most shares were mixed In quiet trading on Monday, market sources said. Among sharper losses, BBC lost five marks and AEG 1.40. In motors Daimler lost two marks and VW was 2.10 easier. Kaufhof gained five Neckermann lost 2.30 and Karstadt 0.50. Among less changed engineerings, Demaf gained265 words
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Article375 1976-12-22 7 PARIS: Shares closed Irregular, but with more losses than gains in very quiet trading on Monday, dealers said. Banks were the most resistant sector, notably Credit National, CIE Bancaire and Locabail. Investment portfolios and foods were mixed, motors fell, led by Chrsaa, Pwqm and Fsrrsds. Stores were generally unchanged.375 words
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Article338 1976-12-22 7 TORONTO: Share prices closed broadly mixed on Monday, about the same as they opened. In very active trading on the Toronto Stock Exchange. Sharp advances among a few heavily weighted Issues drove the bank and communication indices sharply hlghei. Pipelines fell 2-1/4 points on Index In apparent response to338 words
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Article157 1976-12-22 7 MILAN: The market closed higher In active trading on Monday, dealers said. All leading Industrials initially rose but then steadied. Both Pirelli were higher, with Pirelli EC gaining 54 lire at 1,899 and Pirelli SPA 32 lire at 1,501. Asaicurasioni General! gained In insurances, as did Bastogi In flnanclals,157 words
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Article150 1976-12-22 7 BRUSSELS: The market was mixed with a lower bias In quiet trading on Monday, dealers said. Reserve, EBES, Wagona-liU, ST Roch and GB-INNO-BM rose, while falls Included Traction, Asturienne, Hainaut Sambre, Finoutremer, Sofina and Cockerill. US shares and gold stocks were slightly easier, with other foreign Issues mixed to150 words
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Article396 1976-12-22 7 SYDNEY: The market closed generally easier on Tuesday following the Australian dollar's rise and on lack of other Investment news, dealers said. BHP was an Isolated gainer, closing two cents higher at A 57.30, while Hooker lost two to 67 cents and Lend Lease one to 82.23. Among mines,396 words
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Article167 1976-12-22 7 MANILA: The market rose on bargain hunting on Tuesday, In moderate trading, dealers said. Gainers Included Acoje Mining. Atlas Con A and B, Baguio Gold, Lepanto B, Phile* A and B, Phil Overseas, Oriental A and Sea front. Marinduque B and PLDT were unchanged and Benguet Coo B, Pi167 words
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Article411 1976-12-22 7 JOHANNESBURG: Gold shares were easier on Monday, following the lower bullion price and a general lack of Interest, dealers said. Elsburg shed three cents to 137 and Lormine lost 10 cents to 120. Financial minings were easier following producers. Anflo* lost five cents to 395. Collieries were easier In411 words
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Article444 1976-12-22 7 HONOKONO. Blue chips closed higher on active afternoon buying following a hesitant and steady morning on Tueaday, dealers aald. They aald the rise was led by Hongkong Electric and Hongkong Land. HK Land rose 30 cents to $7.80 and electric 25 cents to $5.30. Among other blue chips, Hongkong444 words
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Article82 1976-12-22 7 INK* 21 Bahts 4YAsia Fibre 1106 Bangkok Bank 231 ♦2 Bangkok Invest 182 Bangkok-Metro-politan Bank Bata 359 Berll Jurker 156 -1 Charoong Thai Wire 153S unch Dumex DusltThanl Faber Merlin First Trust Indo-Thal J And J Ho 161 Jalaprathan Cement 75 unch Karnasuta Lee Kwang Mln Metal Box 482 words
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Article513 1976-12-22 7 TOKYO: The market rose In active trading on Tuesday with Investors welcoming the approval by the Cabinet of the supplementary national budget, dealers said. The Dow Jones average rose 43.42 to 4,863.53, with volume 370 million shares. The New index closed at 371.01, up 2.21. Paper-pulps, Inks and big513 words
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Article97 1976-12-22 7 FINANCIAL TIMES INDUSTRIALS Monday 341.0 Friday 339.5 Week ago 333.7 TIN8 Monday 123 45 120 24 Week ago 118 95 RUBBERS Monday 483 40 487 66 Week ago 493 78 OILS Monday 410 M Friday 409 22 Week ago 400.85 DOW JONES AVERAGE INDUSTRIALS Monday 972.41 Friday 979 0697 words
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Article99 1976-12-22 7 AMARILLO, Texas, Tues. Mesa Petroleum said a confirmation well on block 1130 in the Noray Firth area of the British North Sea flowed 6.197 barrels of oil per day. The company said feasibility studies are now underway to determine future development on the block. Mesa said it will99 words
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Page 7 Advertisements
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Advertisement176 1976-12-22 7 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who176 words
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COMMODITY REPORTS AND PRICES
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Article641 1976-12-22 8 OPENINO quotations In the Singapore rubber market yesterday were marked down following lower London advices and prices then drifted slightly on some stale bull liquidation in dull trading, dealers said. Towards the morning's close, prices firmed marginally, but on balance were still lower than Monday's prices they said.641 words
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Article91 1976-12-22 8 DAILY MR and 8MR pricM at noon yeeterday: M.A.N. Jan (Current Mtk) Bine Win (eeM* per kf) refc (Forward Mtk) Buyer* Seller* (eeauperkf) 8SR20 MR 50 (1-ton Pallet*) (1 -ton Pallet*) iM SO 181.00 184.MN laa.ooN 184.80 183.00 IM.MN 163.00N M.K.K.L.B. BMR JCV SMRSL 8MRS 8MR 1091 words
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Article224 1976-12-22 8 THE Straits tin price In Penang yesterday was down *8.87* to $1,242.12* per plcul on an official offering up 23 tonnes to 301 tonnes. In LONDON yesterday, tin eased by around £37 per tonne for Cash Standard and £35 for Three Months. Hljgh grade fell by £37 all224 words
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Article30 1976-12-22 8 Rubber: Dec 21 Singapore: Jan. 1N.50 eta (down 1.00 cte.) Malaysia: Jan. 168.60 eta. (down 1.26 eta) Tin: 61.242.12* (down 88.87*) Official offering: 301 tonneo (up 23 ton-30 words
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Article116 1976-12-22 8 LONDON, Tues. Lead sained £5 per tonne for cash but only £0.50 for Three Months. The market was still featured by demand for cash which took the position up to £23 per tonne and narrowed the Contango to about £4 from £8 on Monday. Dealers said the movement reflected116 words
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Article129 1976-12-22 8 THE following Palm Oil pi rice* wei re quoted in London on Monday. The pricM art elf Rotterdam and are quoted in US dollar per ton unleee otherwlee itated Malayela SHf fa bulk Monday 441 «lr Free. Jan 488* Feb 441 air 488* Ifch 446 sir Sumatra 5H129 words
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Article247 1976-12-22 8 CHINKS! PRODI)CI EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut OU: Bulk «S6 Milan, old drum ISO Milan, naw drum Its Miitrt. Copra: Mlxad (Ioom) UK/ Cont IM Buyari Pappar: Muntok ASTA whtta f.o.b. 100H NLW MM Milan, drink whlta f o b. MH NLW MSO Milan.247 words
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Article262 1976-12-22 8 IN the Singapore gold market yesterday, the loco London gold was Initially quoted atUSIISI.SO/132 and aloped slightly to USBISI.2O/131.60 and thereafter the metal was strongly blddsd up to U*****.M/134.00 on shortcovering and renewed buying Interest. The London morning fix was U*****.75, up 61.40 on the previous fix. Souree: aiii262 words
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Article332 1976-12-22 8 LONDON, Tues. Copper wire bars showed losses of £2.50 per tonne for cash and £3 for Three Months The market was shaded in price as modest buying, much of which appeared to be of a pricing nature, was met by general liquidation and booltsquarlng in the absence of fresh332 words
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Article67 1976-12-22 8 LONDON, Tues. Zinc lost £2 per tonne all round. The metal tended to sag in Une with copper under scattered trading which pushed Three Months down to £403 per tonne. Sales were boosted by carries. On Monday afternoon, Zinc gained £1.50 for Cash and £1.75 for Three Months. This67 words
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Article323 1976-12-22 8 LONDON, Tu««. Robust* futures opened strong with values £126 to £103 per tonne up from Monday's cloee. 690 lots were traded by the end of the opening call. All positions, execept Jan. broke through the £2,800 barrier. March traded within a high low range of £2,880 down to £2,809323 words
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Article172 1976-12-22 8 CHICAGO, Mon. Wheat future* traded In narrow range throughout the session before closing to 1* cents a bushel higher on the day. Strength In soybeans provided some spillover support In wheat. But otherwise there was little fresh fundamental news to change tradera' opinions today, floor sources said. The spot172 words
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Article166 1976-12-22 8 CHICAGO, Mon. Soybean futures spurted initially when a large local trader came In to buy about 1 ft million bushels. But interest then fell away. Even so the market recorded final advances of 5 to 7 cents a bushel largely in the absence of any hedge selling. Cash soybean166 words
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Article157 1976-12-22 8 LONDON. Tubs. Sliver softened by 0.9 to 0.2 pence per troy ounce. Buying interest was again at a low ebb and prices drifted lower throughout light dealings of 20 lots. Three Months finally changed hands at 297.0 pence but eased further to 266.2 pence. On Monday afternoon, spot silver157 words
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Article308 1976-12-22 8 LONDON, Tues. Terminal opened i'2.40t0 11.90 per tonne lower than Monday's close. Sales totalled 936 lots. Market sources said commission house selling Interest was encouraged by Monday's New York market where the near March position broke down through a ?revious resistance level of .94 cents. But followtrhough in London308 words
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Article213 1976-12-22 8 BANOKOK, Tues. Indicative prices for rice quoted in Bangkok yesterday were: UB dollar* per tonne fob basl* Bangkok White Rice: 100 per cent let claa* 880 100 per cent tnd elaae 178 100 per cent Brd claa* 870 I per cent 851 10 par cent 887 18 per cent213 words
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MONEY AND EXCHANGES
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Article557 1976-12-22 8 OVERNIOHT rates In Singapore's domestic money market hit 10 per cent yesterday following an unexpected tightening as the market drew to a close. Opening at S 3/4 per cent In the morning, overnight funds were gradually traded up to the 31/2 per cent level towards luncntime, with the bulk557 words
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Article140 1976-12-22 8 Asian rates ASIAN currency dapoait Interbank rata* u at cIom on Dae. tl. W Dalian <*at> Oftar ■U 7 day* 411/16 41/11 1 mth 4 7/4 41/4 Imtha I mthi mtn» 9 mini ISmtha 11/11 11/11 Il/t IM Fra. 4i/a 418/14 it/ia S 3/1 »l/t Dm. 1 mth 3 mth*140 words
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Article40 1976-12-22 8 rtoai offt irtd by dii DOM «1 o M o*»rniu» 11 ;.v 1 IMM Month Ttomuiw bUU Month fc »»IU Owl»| »«r i 1 IH I a% IS Month* CD M IH ••Month 4 Source: National Discount Co40 words
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Article151 1976-12-22 8 Euro rates LONDON, Tues. Eurodollar deposits opened little changed and then ruled relatively steady in early quiet conditions. Some dealers, however, noted a slightly softer undertone in a few positions. Period trading was relatively light, apart from usual early morning Hongkong and Singapore Interest. Most operators were covered anead of151 words
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Article291 1976-12-22 8 LONDON, Tuee. The dollar again fell against some European currencies, still undermined by the latest ease In US monetary policy and a decline in short-term US and Eurodollar interest rates. The US unit dropped to 2.3605/15 marks from 2.3665/80 overnight. Sterling. dragged down by the dollar, fell to U861.6785/90291 words
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Article124 1976-12-22 8 NEW YORK, Mon. The dollar closed sharply lower following the Federal Reserve Board's cut In bank reserve requirements on Friday, dealers said. The cut was Interpreted as another notch of ease In US monetary policy and a prelude to easier prime lending and short-term money market rates. First124 words
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Article117 1976-12-22 8 TOKYO. Tues. The US dollar for overnight delivery closed higher at 294.10 yen compared with 293.50 at the opening but down from 294.20 at Monday's close. The U8 currency fell on dollar selling pressure reflecting the strength of the Japanese yen In overseas centres before a late recovery on117 words
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Article210 1976-12-22 8 HONOKONO, Tues. The U 8 dollar reached HKM.7130/7180 In late afternoon trading against a wide range of 14.7080/7130 to $4.7100/7150 at midday and a low today of $4.7020/7040, dealers said. The market wa« nervoui throughout the day under the Influence of the erratic behaviour of the U6 dollar rate210 words
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Article58 1976-12-22 8 Minimum lending rates (in ACBC 6V« First Chicago Algemene Bank 0* Citibank 6\ Bangkok Bank Bank of America .1% HSBC 7 Indosuez 6* Bank of China .7* Malayan Banking 6* Bank of Tokyo 6*. Mitsui Bank 6* Bank Negara OCBC 6* Indonesia .7Vi OUB 6V« Chartered Bank 6*. UCB 758 words
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Article55 1976-12-22 8 ZURICH exchanges quoted on Dec 20. U8 2.4455 4462 UK 4.1080 1120 Can 2.4205 4220 W.Oerm 103.13 21 Neth 98.94 99.01 France 49.07 11 Belg 6.75* -78* Denm 42.18 22 Norw 47.15 18 Bwed 59.03 07 Italy 0.2827 2829 Austria 14.52 55 Port 7.76 79 Bpaln 3.57* 36* Arg55 words
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Article53 1976-12-22 8 AUBTRALIA/NZ exchanges quoted on Dec 21. Australia: Sterling 0.6344/ 0.6310 US dollar 1.0608/ 1.0644 Ninety day air mall buying rates: Sterling 0.6666 US dollars 1.0946 Ninety day forward buying ratee: Starling 0.6663 US dollara 1.0726 New Zealand: Sterling 0.6610/ 0.6676 US dollars 0.0478/ 0.0378 Ninety day forward rate: SterlTngO.oolo/53 words
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Article31 1976-12-22 8 FRANKFURT exchanges quoted on Dec 21. US 2.3670/90 Can 2.3300/80 UK 3.96/975 Neth 98.85/95 Swlti 96.33/83 Italy 2.726/736 France 47.35/45 Norw 45.66/76 Belg con 6.545/55 Bel* fin 6.55/56 Japan 0.8085/810531 words
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Article253 1976-12-22 8 LONDON. Tues. Eurobonds were generally steady in continuing quiet trading ahead of tne Christmas holiday, dealers said. US issues were steady to a shafe firmer In low turnover, still affected by the lower US short term interest rates, dealers added. Guilder and mark bonds were little changed in253 words
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Advertisement163 1976-12-22 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times I BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) a Surface mail Zone Singapore Malaysia. Brunei Overseas Second class airmail (Individually wrapped and mailed) Zone Brunei. Sarawak. Sabah Australasia/Pacific163 words
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TRANSPORT AND COMMUNICATIONS
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Article926 1976-12-22 9 JACK GEE - THE world's shipyards are going to be up against the problem of too many ships for too few users until probably the 1980s. In the competition for the relatively few orders that are being placed for new vessels, East European and Asian shipyards are steadilyFinancial Times - 926 words
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303 1976-12-22 9 NEW YORK, Tues. Financial Times CHRYSLER, which is collaborating in the U.K. with Chloride and National Carriers in the development of bat tery-powered commercial transport, is to be an important link in a new venture just launched in the U.S. to developFinancial Times - 303 words
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214 1976-12-22 9 AP WASHINGTON. Tues. A private panel recommended yesterday that the incoming Carter Administration move quickly to negotiate a new canal treaty with Panama and to seek accommodation with Cuba. The recommendations were contained in a report by a panel of prominent AmericanAP - 214 words
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360 1976-12-22 9 Financial Times STOCKHOLM, Tues. Kockums, the last of the mator Swedish shipyards to remain In private hands, is to build on its own account a 133,000 cubic metre LNG tanker as an alternative to closing down. The company will finance 30Financial Times - 360 words
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1121 1976-12-22 9 SUE CAMERON - Training a fresh approach at Leyland By SUE CAMERON Financial Times THREE THINGS have forced Leyland cars to take a fresh look at its training policies a new production drive, the trend towards greater industrial democracy and the current rate of unemployment. Since the publication of the Ryder Report lastFinancial Times - 1,121 words
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Article, Illustration394 1976-12-22 9 EXPECTED ARRIVAL TODAY KEPPEL WHARVES Newcrest (SMRD) (1200 after Kwong Ta) 1/2 Mari Boeing (after Stolt Boel) (Draft 9m) 15/16 Kunshan (after Benlomond) 13/14 Yasuurasan Maru (JHOV) (1700 after Great Guide) (Subject Free Board) 29/30. Asian Arrow (3EBW) (1930 tide after Bunga Bindang) 19 Montes (0600 after Altalr)394 words
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Article179 1976-12-22 9 AP LONDON, Tues. North American grain ra.es held steady over the weekend on the London freight market, but there was no sign of inquiry expanding to a point where shipowners might be able to reverse the downward rate trend. US gulf shippers paid the unchanged figure ofAP - 179 words
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Article150 1976-12-22 9 AP WASHINGTON, Tues. The United States Federal Aviation Administration has embarked on a US$7l3 million (551.711 million) programme to improve air traffic control without resolving fundamental safety questions, the Oeneral Accounting Office charges. The OAO, the US Congress's watchdog agency, sent a report to CongressAP - 150 words
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Article557 1976-12-22 9 ARRIVALS Service Local Operator Number Time From TMA TL304B 0530 TPE PAA PA841 0950 SFO/HNL/GUM CAL CI816 1000 HLP JAL JL712 1000 HLP SIA SQ211 1010 HLP CPA CX710 1030 HLP OIA OA980 1030 HLP THAI T0423 1035 BKK THAI T0981 1045 BKK OIA GA908 1100 MES557 words
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Page 9 Advertisements
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Advertisement356 1976-12-22 9 Good reading on iHUTi from Penguin China the most populous nation in the world. Fast emerging as a major power in world politics. Isolated from the rest of the world for over two decades, world attention has nevertheless turned to this most enigmatic of nations time and again. Starting with356 words
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Article, Illustration2466 1976-12-22 10 NOORJAHAN KARIM, JIMI NGOH - A DREAM HAS TURNED INTO A REALITY WITH THE ANNOUNCEMENT BY THE MALAYSIAN FINANCE MINISTER TENGKU RAZALEIGH OF A $400 MILLION HOUSING LOAN SCHEME FOR THE LOWER INCOME GROUPS By NOORJAHAN KARIM, JIMI NGOH "THE fulfilment of housing needs Is a major2,466 words
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493 1976-12-22 10 JULIE CRAIG - By JULIE CRAIG Reuter THE head of the United Nations Food and Agriculture Organisation (FAO) has taken a surgeon's knife to the agency, slicing away the flab and making what he believes will be a more dynamic organisation. Mr. Edouard Saouma. a Lebanese, was electedReuter - 493 words
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Article, Illustration956 1976-12-22 10 BARRY JAMES - By BARRY JAMES UPI THE European Common Market starts 1977 under new management but with old problems pressing harder than ever. It will be crisis as usual for the nine-hation Community, with economic difficulties threatening to tear it apart. Mr. Roy Jenkins, the formerUPI - 956 words
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Page 10 Advertisements
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Advertisement262 1976-12-22 10 m GENERAL MANAGER SOUTH EAST ASIA Negotiable from 5535,000 p.o. plus up to 100% incentive bonus A A world-recognised leader in sophisticated industrial valves seeks to begin marketing and manufacturing in South East Asia. Starting with a sales office in Singapore, the enterprise will grow progressively through warehousing, local parts262 words
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Advertisement371 1976-12-22 10 NOTICES UNIVERSITY OF SINGAPORE GUILD OF GRADUATES NOTICE OF MEETING The Thirteenth Statutory Meeting of the Guild of Graduates of the University of Singapore will be held in the New Lecture Theatre 4, Bukit Timah Campus, University of Singapore on Saturday, 22 January 1977 at 2.30 p.m. Members of the371 words
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Page 11 Advertisements
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Advertisement470 1976-12-22 11 How advertisers can mount a campaign aimed at businessmen t Tactical information from Business Times I •fT .t 3. Shotgun approach beware. Be careful about spieading your message across too many publications. This approach is called the shotgun approach. A secret: Research into readership indicates that readership of advertisements doesn't470 words
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355 1976-12-22 12 UPI BANGKOK, Tues. Prime Minister Thanln Kralvlchlen has told officials to ease governmental red tape for foreign businessmen in an attefnpt to recover from a five per cent foreign Investment slump In Thailand, financial sources said today. The sources said the Prime Minister,UPI - 355 words
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Article44 1976-12-22 12 THE Philippine Aluminium Industry Exhibition will be held from Feb 6 to 12 next year. Aluminium firms from the Philippines, the United States, Europe, South-east Asia, Africa and the Middle East will attend the exhibition at the Folk Arts Theatre in Manila.44 words
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573 1976-12-22 12 HELPING HAND FOR INVESTORS KUALA LUMPUR, Tues Foreign investors will be given a package deal under which the number of expatriate posts allowed for their manufacturing projects will be indicated at the time of approval. Speaking at the annual dinner of the Malaysian573 words
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Article176 1976-12-22 12 Reuter HONGKONG, Tues. Hutchison International said it has acquired over 50 per cent of the share capital of Hongkong and Whampoa Dock. Hutchison said in May lt exercised an option to buy 17.6 million shares in HK Dock, bringing Hutchison's own stake to 44Reuter - 176 words
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Article788 1976-12-22 12 LONDON. Tues. The stock market closed narrowly mixed after a fairly quiet session, dealers said. At 3 p.m. the Financial Times Index was down 0.3 at 337.2. Oovernment bonds were firm, with long-dated loans ending up to 5/8 higher. News that the government broker's supplies of the Treasury788 words
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Article398 1976-12-22 12 UPI BANGKOK, Tues. Helicopter gunshlps and artillery went Into action in the southern Thailand province of 8urat Thanl today, as government forces sought to blunt a communist offensive that has alarmed military leaders in Bangkok. Fourth army gunshlps and artillery were called in to driveUPI - 398 words
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285 1976-12-22 12 THE gravity of the economic problems lying ahead of Singapore and the need for concerted action to overcome them was stressed last night by Labour Minister Ong Pang Boon. Strong political leadership would be necessary to see Singapore through these difficult times, said the285 words
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191 1976-12-22 12 JOHORE BARU, Tues. The Johore Baru Market Fish Merchants' Association passed a resolution last night calling on the Fisheries Development Authority (Majulkan) to exercise more effective control over the export of fish to Singapore. Its chairman, Mr. Tan Choon Sek, said: "The Majuikan's scheme191 words
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Article31 1976-12-22 12 JAKARTA, Tues. The Indonesian Government has named Tan Jung Leneng and Tanjung Sekong on West Java's northern coast as special harbours for oil exports, Antara news agency reported today.31 words
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Article212 1976-12-22 12 KUALA TRENGGANU, Tues. The Malay Chamber of Commerce today sent a memorandum to the Prime Minister Datuk Hussein Onn asking him to use his good office to see to it that a petroleum base supply industry be set up in Trengganu, instead of Pahang.212 words
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Article123 1976-12-22 12 CHUNG Khiaw Bank filed a suit lh the High Court yesterday against Joiner Enterprises and four others for $790,869.35, being money allegedly due and owing to the bank. American President Lines on Monday filed a suit in the High Court here against the Port of Singapore123 words
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163 1976-12-22 12 THE implemeaUtion date for the second itaft of the general freight rate increase which the Far Eastern Freight Confrenc* has planned for certain electrical goods, will he pushed back again to March next year. The increase was originally scheduled to take place on163 words
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Article117 1976-12-22 12 Reuter TOKYO, Tues. The Tokyo Stock Exchange said it will tighten margin trading controls In all stocks effective tomorrow to cool off the overheated market. The exchange said margin requirements for all stocks would be raised to 50 per cent Including 10 per cent inReuter - 117 words
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Article68 1976-12-22 12 Reuter PRETORIA. Tues. The South African trade deficit widened to 114.7 million rand in November from a deficit of 78.1 million in October and a revised 121.9 million shortfall In November last year, the Department of Customs and Excise said. The Department said the figures exclude exportsReuter - 68 words
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Article48 1976-12-22 12 UNITED Overseas Bank's new branch In Tanjong Pagar Plaza opens for business today. The new branch replaces the one In South Bridge Road, which was opened In June 1966 It will offer the usual comprehensive range of banking facilities. Including (from next February, safe deposit boxes.)48 words
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Article273 1976-12-22 12 THE average wholesale price of coffee in October wai more than triple that for April last year. According to the Department of Statistics, the average wholesale price of A.P.I and E.K.I coffee stood at 5124.2S and 1122.25 per picul (f.0.b.) in April 1975 respectively. In October this273 words
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Article, Illustration299 1976-12-22 12 MR. Devan Nalr, secretaryfeneral of the National rade Union Congress, yesterday commented on the "dangerous ignorance displayed by the opposition parties about the fast and alarming changes that have taken place, and will continue to take place. In South-east Asia and in the world."299 words
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356 1976-12-22 12 AT a press conference yesterday, Mr. Shamsuddln Tung, the oncedetained former editor-in-chief of the Nanyang Slang Pau and the United Front candidate for Brickworks constituency, tried to refute allegations made against the United Front by the People's Action Party. First, Mr. Tung356 words
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185 1976-12-22 12 MR. Ahmad Mattar, parliamentary secretary for Education, yesterday said that the achievements under the PAP leadership are not imaginary but are all around to be seen. "They are all around you," he said, "comfortable apartments, better schools, better-equipped hospitals, plenty of jobs, good security, and185 words
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Article186 1976-12-22 12 DR. Lee Slew Choh, chairman of Barisan Soslalls, yesterday said that If Singapore did not have such a large public debt, then the interest payable every year could be used to give every thing free to the people. Dr. Lee was speaking at a Barlsan186 words
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88 1976-12-22 12 THERE will be political broadcasts on television and radio on the eve of polling day. All political parties fielding six or more candidates will be.given time in proportion to their number of candidates. The broadcasts will be in all four languages and will88 words
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Article183 1976-12-22 12 MR. Lee Kuan Ye» revealed last night why the PAP is fielding a new candidate in Paya Lebar. The Prime Minister said the last Paya Lebar MP, Mr. Tay Boon Too, was having problems with his eyes ana could not drive at night.183 words
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Article109 1976-12-22 12 MR. J. B. Jeyaretnam said last night that he felt sorry for Dr. Toh Chin Chye. The secretary-general of the Workers Party, speaking at the party's rally In Dunman Road last night said this was because of the Minister's admission that Parliament was not109 words
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Article108 1976-12-22 12 THE Housing and Development Board strongly denies unreported but persistent accusations made by certain opposition members in election rallies throughout the past few days about certain law firms and transactions of HDB flats. It is believed that reference has been made to specific law firms by108 words
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Advertisement33 1976-12-22 12 .4 This superb hand-tanned SSiiL leather bill-fold worth $50 is yours FREE! 4 11. Soie Agent and Service Centre \Mrtber 2nd Floor', Maritime Building, Collyer Quay, Singapore 1. Telephone *****. (Far Eml Limited33 words
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