The Business Times, 14 February 1977
1977-02-14
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The Business Times
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Title Section10 1977-02-14 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, FEBRUARY 14, 1977 SO CENTS10 words
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NEWS IN BRIEF
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Article80 1977-02-14 1 AP TOKYO, Sun. China has hailed the nationalisation of foreign oil companies In Qatar last Wednesday as a victory In "an Irresistible historical trend" of Third World oil producing countries seeking full sovereignty over their resources. Peking's Hslnhua news agency said In a broadcast heard In TokyoAP - 80 words
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Article70 1977-02-14 1 Reuter BRUSSELS, Sun. Common Market farm and finance ministers will review proposals by the EEC Commission tomorrow for an average three per cent rise in Community farm prices for 1977/78. About 75 per cent of this year's EEC budget of US$lO.6 billion (Ss26 billion) will be takenReuter - 70 words
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Article52 1977-02-14 1 KUALA LUMPUR, Sun. Malaysia is to mount an investment promotion offensive in India next month to take advantage of the growing interest in this country. A series of promotion seminars will be held In India next month by the Federal Industrial Development Authority together with the United52 words
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Article48 1977-02-14 1 Reuter BANGKOK, Sun. Thailand's Crown Prince Vajlralongkorn escaped unhurt today when communist guerillas ambushed a military lorry in which he was travelling, Radio Thailand reported tonight. The radio said the prince left the truck and directed the counter-attack against the unknown number of guerillas. —ReuterReuter - 48 words
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Article30 1977-02-14 1 Reuter BANGKOK, Sun. More than 40 tonnes of marijuana was destroyed in a massive anti-narcotics operation in north-east Thailand last week, the Nation Review reported today. ReuterReuter - 30 words
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Article50 1977-02-14 1 AP MELBOURNE, Sun. Four people were killed and millions of head livestock died as the worst bushfires in eight years raced through farmland in western Victoria over the weekend. Damage from the fires, fanned by 65 kmh winds, was estimated at more than Aslo million (Ss34 million). APAP - 50 words
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Article50 1977-02-14 1 AP STOCKHOLM, Sun. Sweden's foreign aid package at US$7B6 million (Ssl6 billion) for the fiscal year starting June 30 will surpass one per cent of the gross national product. This makes Sweden the single largest aid country in the industrialised world based on gross national product. APAP - 50 words
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Article58 1977-02-14 1 AP KUALA LUMPUR, Sun. The United Asian Bank has started making loans of up to US$2,OOO (554,900) with gold Jewellery as collateral. Bank manager V. Krlshnasamy said bank experts appraise the prospective borrower's gold ornaments for a fee of $1 and then lend the client up toAP - 58 words
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Article42 1977-02-14 1 KUALA LUMPUR, Sun. The Partai Rakyat Malaya today called for disciplinary action against the Inspector-General of Police, Tan Sri Haniff Omar, for his "political involvement" in relation to the recent detention of six politicians, including three Members of Parliament.42 words
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Article39 1977-02-14 1 Reuter JAKARTA, Sun. Indonesia and Malaysia are preparing for joint exercises by their armies, Indonesian Defence Minister General Maraden Panggabean said here, but the place and timing of the exercises are yet to be decided. Reuter.Reuter - 39 words
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Article51 1977-02-14 1 THE Prime Minister, Mr. Lee Kuan Yew, last night reaffirmed his Government's determination to check the crime rate whether it is drug trafficking, drug addiction, petty thieving, extortion or molesting of young women In lifts. He was speaking at the "VC Today" display at the National51 words
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Article118 1977-02-14 1 THE following list of stocks gives the 10 most traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units, closing prices on Friday and the high and low for 1976/77. Company Turnover Price* High Low 000 Feb 11 1976/77118 words
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LOCAL STOCK INDICES
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Article81 1977-02-14 1 Feb 7 Feb 8 Feb 9 Feb 10 Feb II ♦+B.T. Index: 261.70 260.42 261.38 261.22 264.09 •Industrials: 254.63 254.57 254.36 254.36 255.21 (®Flnance: 440.15 439.52 439.70 440.15 441.50 Hotels: 156.33 155.77 155 27 155 44 155.63 •Properties 147.76 147.76 147.61 147 53 148.07 Tins: 104 90 105.09 105.0981 words
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Article85 1977-02-14 1 Feb 7 Feb 8 Feb 9 Feb 10 Feb 11 ++B.T. Index: 200.77 198.48 197.92 200.03 200.93 Industrials: 277.76 276.65 276 30 276.47 276.34 ©Finance: 376.61 375.62 374.53 374 28 375.47 "Hotels: 171.39 171.39 171.39 171.39 171.84 •Properties: 146 44 143.92 143.29 143.66 144.07 ♦Tins: 104.83 105.09 104.85 104.8785 words
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Article1576 1977-02-14 1 QUEK PECK LIM - LARGEST ENTERPRISE IN REGION By QUEK PECK LIM STATE-OWNED enterprises, vested in an investment holding company called Temasek Holdings Pte Ltd control assets of $1.6 billion. This places Temasek squarely among the top five largest corporations in Singapore and Malaysia. Measured against Business Times'1,576 words
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Article696 1977-02-14 1 SINGAPORE must shape Its own destiny without "copying" other countries and Singaporeans particularly the young should not simply take for granted the continuance of economic prosperity during this process of nation building. This was the "Phllisophy of Government" set out by the Prime Minister, Mr.696 words
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322 1977-02-14 1 Reuter LONDON, Sun. The world's navies will order more light and fast hovercraft and hydrofoils to replace expensive conventional ships which need a lot of manpower, a survey predicts today. Jane's Surface Skimmers, one of a series of authoritative yearbooks published here onReuter - 322 words
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416 1977-02-14 1 MAJOR Industrial powers are still Important to Singapore economically and their policies will affect Its security for better or worse. This was stated In the addendum of the Ministry of foreign Affairs to the Presidential address. Their Investments, markets and technology are416 words
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Article168 1977-02-14 1 Reuter DAR ES SALAAM, Sun. President Julius Nyerere today appointed Mr Edward Sokolne as the new Tanzanlan Prime Minister. He was the defence minister before the appointment. The outgoing JPrlme Minister is Mr. Rashidl Kawawa, for more than 15 years a top lieutenant of Dr.Reuter - 168 words
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Page 1 Advertisements
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Advertisement58 1977-02-14 1 ©Wi yfoong MAF A lending hand when VVayfoong Mortgage you need and Finance (Singapore) Limited it most Shaw House. Ground Floor. 354 Orchard Road. Singapore 9. Tel: *****7. INSIDE Leisure/TV Radio Local/Share inform a Crossword P2 tion PS Le»»ure P3 Overseas markets P7 Features P4 Commodities P8 International Co Sports58 words
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Advertisement67 1977-02-14 1 RECORD H 1 mm Vi "M t SONY 1 mm m w> 1 V, ft so\> f f i J VO-1810 rrsASONY" •Dual system: Displays both PAL and modified NTSC colour recording when combined with both CVM-181OE VO-1810. Receives and records TV programmes off the air. 'Fully Automatic, solid state67 words
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Advertisement32 1977-02-14 1 Albert Photo For the best in gsfe photographic <(N is hours equipment HEAD OFFICE 121 Ist F loo< O'Chard Towe'b iopp Hote> Str>gapuraVOr h ard Road Smgapo'e9 Tet *****3 *****1 S *****15 _<~%-;{(/%."^:&=\.<-."_<{!.[&-@32 words
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REVIEWS
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Article694 1977-02-14 2 THE Government's strategy for maintaining an annual growth rate of six to eight per cent the best that can be expected In these times of economic uncertainty is dependent upon a fullhearted response from the private sector and labour. If this growth rate is achieved, and694 words
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Article, Illustration817 1977-02-14 2 VERNON SCOTT - EVITA BUT IS IT AN OPERA? "MUSIC By VERNON SCOTT UPI THE authors of the rock opera Jesus Christ Superstar have written another, titled Evlta. and this time they simply call It an opera. Opera has not been a universally popular means of musical self-expression for composers since Puccini diedUPI - 817 words
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882 1977-02-14 2 CKT IT IS. apparently, quite possible to encounter a masterpiece too soon In the day. I had a colleague who caught the Wagner fever from me In the space of two months, though I would admit that I did cram those two months tightCKT - 882 words
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Article593 1977-02-14 2 Financial Times. Shakespeare: The Man and his Achievement by Robert Speaight. Dent, £6.50. 384 pages. The Living Monument by M.C. Brad brook, Cambridge University Press, £8.50. 287 pages. MR. SPEAIGHT's book is what every writer on the theatre must secretly want to write a personal review of allFinancial Times. - 593 words
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757 1977-02-14 2 BOOKS NYT Shaking It Rough: A prison memoir. By Andreas Schroeder. 214 pages. Doubleday. U559.95. MAKE sure you tell them about the bitterness and the outrage, a fellow inmate urged when Andreas Schroeder said that he was going to write aNYT - 757 words
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Article, Illustration2822 1977-02-14 3 A.T. SHIMPI - By A.T. SHIMPI Mr. Shimpi is the general manager of NTUC Income. SUNDAY: I was not to have my usual late morning golf today, having had a round yesterday afternoon. After dinner with the chairman of an international insurance conglomerate who is on a short visit here2,822 words
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Page 2 Advertisements
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Advertisement198 1977-02-14 2 IBJ The Bank for All Reasons Long-Term Financing. IBJ is Japan's oldest and largest long-term credit bank. We are the leading bank in arranging yen-denominated bond flotations by both foreign and domestic issuers. Main Bank to Japan's Key Industries. IBJ is main bank to more of Japan's industrial leaders than198 words
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Page 2 Miscellaneous
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Miscellaneous51 1977-02-14 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Feb 13 at Singapore airport: Maximum temperature 30.fi°C Associated humidity 65% Minimum temperature 23.2° C Associated humidity 9X9* Hours of sunshine 5.(10 Rainfall in millimetres 0.2 Total rainfall for the month 64.9 Total rainy days for the month51 words
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Miscellaneous325 1977-02-14 2 I SINGAPORE 5 0 TV 3.00 P.M. Opening Announcements followed by "Kudumba Malar" (Tamil) (r) 3.30 Diary Of Events (Tamil) 3.35 General Hospital 4.10 Science Report 0 4.25 Intermission 6.05 Opening Announcements followed by December Bride "Matt's Mustache" 6.30 News In Brief 0 6.35 The Selfish Giant (r) 0 7.05325 words
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Page 3 Advertisements
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Advertisement212 1977-02-14 3 RELIABILITY IS CARRIER X:.\ 1 X V Xn v *>:■ N,* ftfc y v* V When 90° oof all Shaw Brothers Cinemas select Carrier Air Conditioning-it has to be reliable. And it is. Over 150 cinemas throughout Singapore and Malaysia have been airconditioned by Carrier because cinema operators understand the212 words
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Page 3 Miscellaneous
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Miscellaneous446 1977-02-14 3 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS I Of a quiet grey? (4) 4 A natural decline (6) 8 I'm In training for the mine (3) 10 Vicars' means of travel (4) 13 Naval discard? (8) 14 Obstruction In a bottleneck (7) 15 Period ticket (6) 17 Timber as good as any?446 words
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Article, Illustration997 1977-02-14 4 FOX BUTTERFIELD - Hongkong the backyard of China's Switzerland By FOX BUTTERFIELD NYT AT FIRST glance It looks much like any other petrol station, the pumps, the modern glass office, the uniformed attendants. But the large rotating neon sign above It says, in Chinese characters. National Gas Station. For the customers, there IsNYT - 997 words
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Article, Illustration1071 1977-02-14 4 RONNIE LIM - By RONNIE LIM WEST German manufacturing investments In Singapore appear to have levelled off In recent years, especially after the worldwide economic recession. But while there have been few new investments I.e. in the number of companies set up operations which have1,071 words
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Article593 1977-02-14 4 ARRIVALS i DEPARTURES Service Operator Number CPA CX003 OA OA472 MAS MH682 JAL JL712 SIA SQ211 GIA GA980 CPA CX710 THAI TG423 GIA GA908 PAL PR501 SAS SK097 KLM KL811 Local Time From 0145 HKG 0200 SYD/MEL 0810 KCH 1000 HLP 1010 HLP 1030 HT.P 1030 HLP593 words
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Page 4 Advertisements
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Advertisement438 1977-02-14 4 LAND 20,677 sq. metres of residential commercial land at Kowloon Bay Hong Kong on 8 Marchl977. By order of The Amoy Canning Corporation (Hong Kong) Limited, a superb residential/commercial development site of 222,560 sq. ft. (20,677 sq. metres) will be offered FOR SALE in Hong Kong by public auction, at438 words
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Page 4 Miscellaneous
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Miscellaneous178 1977-02-14 4 CROSSWORD SOLUTIONS Easy Solution ACROSS. 1, Band. 4, Bitter. 8. Day. 10, Tsar. 13, Leisured. 14, Strives. 15„ Assure. 17, Impatient. 21, Pal. 22, Set. 23, Hip 26, Illicitly. 27, Resume. 28. Ventral. 32, Computer. 34, Side. 35, Try. 36. Street 37. Seek. DOWN. 1, Bats. 2. Near. 3. Pale.178 words
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INTERNATIONAL COMPANY NEWS
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405 1977-02-14 5 KUALA LUMPUR, Sun. The homecoming to Malaysia' of four tin companies which would help to round off the London Tin scheme has been delayed by several months because of problems of getting the necessary emigration permlsson from the UK authorities. Permission has now405 words
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217 1977-02-14 5 THE unionised workers of Jurong Shipyard have pledged their support and cooperation in maintaining high productivity in the yard so that it can become viable in the present depressed state of the industry. This was stated by JSL's joint managing director, Mr. Low Guan217 words
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179 1977-02-14 5 SINGAPORE'S southern islands must expect to see "changes" in the course of time, said the Minister for Social Affairs, Encik Othman Wok. at the "Victory Tea Party" on Pulau Bukom on Saturday. "In the process of modernisation those who live on the islands may have179 words
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129 1977-02-14 5 SINGAPORE'S total population Increased by 30,600 to an estimated 2,294,900 between end-1975 and end--1976. according to the Department of Statistics. The population increased by 13.900 in the first half of 1976 and by 16,700 in the second half of that year. At the129 words
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Article75 1977-02-14 5 Reuter LONDON, Sun. The Bank of England said purchase of shares in Harrisons Malaysian Estates Ltd by UK Residents from nonresidents may only be made with investment currency as from last Thursday. However, HME shares have not become foreign currency securities and proceeds of sales by residentsReuter - 75 words
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984 1977-02-14 5 AP BRUSSELS, Sun. An estimated US$4B billion (***** billion) in Eastern European and Soviet debts is causing concern here in the capital of the Common Market and the North Atlantic Treaty Organisation (Nato). Officials say nobody except the Soviets know for certainAP - 984 words
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483 1977-02-14 5 NYT MANILA. Sun. President I Marcos over tne weekend linked the ending of martial law in the Philippines to the course of American policy in Asia to be set by President Carter, particularly to the outcome of the difficult negotiations over the futureNYT - 483 words
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Article157 1977-02-14 5 AP WASHINGTON, Sun. Wholesale prices rose fivetenths of a per cent in the United States last month but didn't fully reflect the impact of the severe winter weather on food and fuel costs, the Government reported over the weekend. The (JS Labour Department said the increase,AP - 157 words
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Article262 1977-02-14 5 MELBOURNE, Sun. Western Mining Corp said it found uranium at It* Olympic Dam copper prospect on Roxby Station in South Australia. Mining industry sources told Reuters the uranium which assayed at 1.29 lb per tonne at 348 metres to 518 metres would double the value262 words
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Article163 1977-02-14 5 NEW YORK, Sun. Textron has achieved record Srofit and sales last year. et profit rose to U*****.06 million from $95.96 million on sales of $2.63 billion ($2.46 billion). The full year figure includes a fourth quarter contribution of $36.61 million ($27.94 million) on sales of $662.6163 words
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Article74 1977-02-14 5 Reuter LONDON, Sun. Canadian National Railways plans to raise Cs6o million through a 10 year Eurobond Issue with an Indicated coupon of 8-% per cent, McLeod Young Weir said as joint lead manager. Final terms for the issue, the largest single-tranche Canadian EuroDond ever marketed, will be fixedReuter - 74 words
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Article432 1977-02-14 5 Reuter HONGKONG, Sun A HKS6OO million seven year floating rate facility at 1.5 per cent over the local best lending rate Is being arranged for the Mass Transit Railway Corporation (MTR) banking sources said. Schroders and Chartered confirmed that It and the Citicorp International groupReuter - 432 words
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Article219 1977-02-14 5 PARIS, Sun. Sa Francaise Du Ferodo has reported a 25 per cent Increase In net turnover to 1.54 billion francs In 1976. Turnover In 1975 totalled 1.23 billion francs. Chairman Mr. Andre Bolsson said in a letter to shareholders cash flow rose about the same percentage219 words
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Article182 1977-02-14 5 Reuter LONDON, Sun. Ozalid Group Holdings and OceVan Der Grlnten NV said agreement had been reached by their boards for a merger of the two companies to be effected by Oce Finance offering for Ozalid. The offer which both boards recommend involves 50p nominalReuter - 182 words
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Article275 1977-02-14 5 Reuter HONGKONG, Sun. UnauJiitvi consolidated net after-tax profit at Wlnsor Industrial Corp Jumped to HK527.94 million for the first half-year ended Sept 30, 1976 from $19.5 million previously. The company said the profit Included 26 per cent of the unaudited net profit of Hllwln Enterprises,Reuter - 275 words
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Article99 1977-02-14 5 Reuter HONGKONG, Sun. A maintained Interim dividend of 25 Hongkong cents has been declared by Allied Investors for the year ending March 31, 1977. The dividend is payable on March 11 to shareholders registered on March 2. The company, a Wheelock Marden group unit, said group operating profitReuter - 99 words
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Article100 1977-02-14 5 Reuter HOUSTON, Sun. C and K Petrajpum said it sold its ammonia plant near Sydney, Australia, to ICI Australia Engineering for about $544,000. C and K said the sale will result in a loss provision of $358,000 or 15 cents a share in its 1976Reuter - 100 words
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Article95 1977-02-14 5 Reuter SYDNEY, Sun Despite suffering a 93 per cent plunge In interim earnings, Dalgety Australia is still optimistic that it will emerge from the current year ending June 30. 1977, with some improvement. At half-time, net profit fell to ASIOI.OOO from $1.52 million on group turnover ud toReuter - 95 words
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Page 5 Advertisements
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Advertisement387 1977-02-14 5 Our client, a leading group of mining companies, invites applications from suitably qualified persons to fill the following vacancies in its expanding organisation. PROJECT COORDINATOR ($50,000 p. a.) This is a senior position in the group involving full responsibility for management and execution of new projects. He will report directly387 words
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Article961 1977-02-14 6 GOH ENG KEE - By GOH ENG KEE THE results of Dah Yung Steel for the year ended Dec 31, 1976 expected to be released In a few months' time should either confirm Its directors' optimism In the face of adverse trading conditions or underline its plight In the961 words
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Article130 1977-02-14 6 COMPUTER Processing Services, a wholly-owned subsidiary of the Straits Steamship group, has appointed Mr. B.J. Rlgby as the general manager of its new service bureau in Hongkong. The new Hongkong bureau, which will be officially opened on Feb 24, is linked by high speed data transmission130 words
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Latest results
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Article36 1977-02-14 6 Unaudited pre-tax profit M 55.03 million ($3.62 million) on turnover of $21.01 million ($15.84 million) for the first six months ended Dec 31. 1976. Interim dividend 12.5 per cent (same) payable April 8.36 words
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COMPANY MEETINGS
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26 1977-02-14 6 THE following company meetings are due: Feb 15. 10 a.m., Registered Office. Penthouse, 10th Floor, Wisma Central. Jalan Ampang. Kuala Lumpur.26 words
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Article16 1977-02-14 6 Feb 16. 12 noon, No. 14 Jalan 223. Section 20 A. Petallng Jaya.16 words
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452 1977-02-14 6 TEMENGGONG expects its earnings per share to increase by eight cents with the acquisition of the remaining 40 per cent stake in Greatways International (Singapore). in a reply to a Stock Exchange of Singapore query on the $700,000 acquisition, TMG, however, says the immediate452 words
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Article162 1977-02-14 6 Current Ex Date Total for Total for payment Date payable the year previous year D. Keramat 66.67%+ Jan 26 Feb 17 66 67%+ 65% L'lu Benut 5%TE Feb 2 Feb 17 5%TE 5% N.B. Timbers 3%+ Jan 26 Feb 21 3%+ 15.4%a Strait* Times 27.5% Feb 11 Mar162 words
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Article2265 1977-02-14 6 i rivri Hi«b Low Company La.» Safe Week +orO'I Div Div Cvr Gr'a N at Week Y'ld P/E Vol Week ('MO) Hick Low SECTION ONE INDUSTRIALS 175* 131 206 100 133 130 172 60 Acma Acma A Alcom Allied Choc 142 130 204 65 unch2,265 words
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Page 6 Advertisements
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Advertisement137 1977-02-14 6 Penguins in Business and Management Understanding Company Financial Statements: J. Parker Organization Theory D. Pugh Business Strategy: H. Ansoff Corporate Strategy: H. Ansoff Exploration in Management: W. Brown Modern Management Methods: E. Dale Offensive Marketing: J. Davidson Business of Management: R. Falk Modern Business Enterprise: M. Gilbert Corporation Man: A.137 words
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WALL STREET AND OTHER OVERSEAS MARKETS
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Article1129 1977-02-14 7 NEW YORK: Stocks on Friday made a feeble attempt to add to Thursday's advance, but the effort collapsed after about an hour of trading and prices declined. Energy and Inflation concerns stacked up as overriding depressants for the market, according to most analysts, who noted that the news1,129 words
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Article376 1977-02-14 7 PARIS: The market was generallj firmer in thin trading and the announcement by the Stock-brokers" Association It has decided to adopt a classical cash market, dealers said on Friday. Banks and foodstuffs led the gains Automobiles also rose, with Ferodo advancing after announcing a higher 1976 turnover. Constructions were376 words
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Article328 1977-02-14 7 AMSTERDAM: The market firmed on news of Initial agreement between employers and unions on a price compensation system for the current year and In line with Wall Street, dealers said on Friday. Unilever led Dutch Internationals 1.70 guilders higher. Shares elsewhere closed higher, with Isolated exceptions. HVA and Amfas328 words
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Article151 1977-02-14 7 MILAN: The market closed lower on Friday after a quiet session, dealers said Selling pressure Increased owing to the approaching end of the bourse month, but buyers were cautious. Among industrials. Pirelli SPA and Fiat closed lower, as did Generali In Insurance. Bonds closed quiet in modest trading KB151 words
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Article294 1977-02-14 7 FRANKFURT: Shares closed weaker, partly on foreign Investor selling, market sources said on Friday. In stores. Karstadt lost seven marks and Kaufhof six. Banfcs shares eased up to three marks. In the auto sector, only VW was steady and other shares fell up to 3.50. Daimler, which is raising294 words
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Article305 1977-02-14 7 ZURICH: The market closed steadier in generally quiet activity. helped by the overnight recovery or Wall Street, dealers said on Friday. Bangeaellachaft led leading banks slightly higher. Financials ruled very steady, except for Bally which was subject to profit taking after Its recent advance. Landii registered firmed markedly on305 words
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Article173 1977-02-14 7 BRUBBELS: Prices closed mixed with a lower emphasis in quiet trading with only narrow movements ahead of the weekend, bourse sources said on Friday. SMro and HoMh row, but Reserve, Electraflna, Uniomlmiaiere, Ceckerill, Clabec, Waxona, Liu and Arbtd I a were all Tower. In foreign stocks, UK Issues fell173 words
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Article247 1977-02-14 7 TORONTO: Oil and pipeline issues were generally lower while all other sectors displayed narrowly mixed prices at the close of light trading on Friday. Dome Pete lost to 39H, Bow Valley at 22W. Ranger 1 at 21. while Canadian Merrill advanced 1 to 14. Tranacanada Pipelines lost %at 13Vb247 words
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Article364 1977-02-14 7 JOHANNESBURG: Golds eased through the day In line with the London morning fix and other European bullion indications, dealers said on Friday. Heavyweights lost up to 100 cents, while medium priced stocks were around seven cents down. Financial minings were mixed to firmer. De Beers lost seven cents to364 words
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Article415 1977-02-14 7 TOKYO: Share-prices fell sharply on massive liquidations In blue chips and exportoriented shares following a fall on Wall Street, dealers said on Saturday. The dow Jones average lost 40.51 to close at 5,013.42 with volume 140 million shares. The New index closed at 378 24. down 3.04. The second415 words
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Article63 1977-02-14 7 FINANCIAL TIMES INDUSTRIALS Friday 381.5 Thursday 389.7 Week ago 403.8 DOW JONES AVERAGE INDUSTRIALS Friday 931.52 Thursday 937.92 Week ago 947.89 LONDON DOLLAR PREMIUM Friday 99 H to 100 Thursday 99 W to 99% H.K. HANG SENG Friday 440.82 Thursday 439.54 Week ago 435.91 SYDNEY INDUSTRIALS Friday 349.35 Thursday63 words
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Article1359 1977-02-14 7 On February 11 PRICES on the Chicago Board Options Exchange on Friday declined as losers outscored gainers, 405 to 65. CBOE volume approximated 74,240 contracts compared with 78,719 contracts on Thursday. OPTION APL JLY OCT STOCK Alcoa SO 3 3/4 5 1/8 6 52 Alcoa so UNTRD1,359 words
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Article215 1977-02-14 7 NYT WALL Street continued Its 1977 slide last week despite news that the adverse Impact of the recent severeiy cold weather on the economy was receding The Dow J one industrial average fell 16.37 points during the week to finish at 931.52. Some analysts notedNYT - 215 words
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Article297 1977-02-14 7 FT NEW YORK. Sun. The demise of the one-time retail giant of the US, W. T. Grant, which suffered a fall Into bankruptcy and dissolution In October, 1975, Is now being analysed by a court-appointed trustee, Mr. Charles Rodman, In the hope that the reasonsFT - 297 words
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Loans
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Article169 1977-02-14 7 Reuter NEW YORK Sun. A decision on whether to grant Peru the second $210 million tranche of Its five-year balance of payments loan has been put back to Thursday, bankers close to the loan said. Canadian and European banks asked for the postponement because they receivedReuter - 169 words
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Article132 1977-02-14 7 Reuter FRANKFURT, Sun. The Bundesbank said It accepted tenders for 1.98 billion marks of medium-term federal notes at the tender which ended at noon on Friday. The bank said it accepted offers for 966.9 million marks worth of three year six per cent notes priced at 99.30 perReuter - 132 words
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Article83 1977-02-14 7 Reuter LONDON, Sun. The €50 million loan issue by the British Finance for Industry group received applications of about £1.6 billion, wellplaced stock market sources said here. Application lists closed on Friday morning for the stock which is dated 1983 with a .14 percent coupon and priced at €99.5Reuter - 83 words
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Article95 1977-02-14 7 Reuter NEW YORK, Sun. Citibank NA, Chase Manhattan Bank NA and Westduetsche Landesbank Glrozentrale will shortly begin arranging a $300 million syndicated loan for the Mexican state oil company, Pemex, bankers said. The credit will be the first significant governmentrelated borrowing since President Lopez Portillo took office in December.Reuter - 95 words
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Article43 1977-02-14 7 Reuter WASHINGTON. Sun. The Treasury Department said it will auction $2.5 billion of two year notes on Feb 17 to raise $985 million of new cash and to refund maturing issues. The notes will be available in minimum denominations of $5,000.Reuter - 43 words
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Page 7 Advertisements
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Advertisement345 1977-02-14 7 > Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the P aS3r ma/am! Because Penguin books are rather special. They are mind-stimulating, deeply researched, K jfimjitrtnT -Srrnr* entertaining in a wholesome way, highly educational ir ffSri TUiiffl345 words
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COMMODITY REPORTS AND PRICES
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Article274 1977-02-14 8 LONDON, Sun. Terminal rubber hardened on sporadic pre-weekend covering on Friday, to close steadier, with gains from Thursday night of 0.30 pence (Oct/ Dec 1977 at 65.15 pence bid) to 1.15 pence per kilo. Prices closed at around the day's highs. Dealers attributed the support to increased consumer274 words
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Article111 1977-02-14 8 THE Straits tin price in Penang on Saturday was down $7 to $1,523 on an official offering down 12 tonnes to 213 tonnes. In LONDON on Friday, tin on the day rose C 35 for Cash and l"20 for Three Months in both contracts. Further fresh buying and111 words
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Article119 1977-02-14 8 THE following Palm Oil prices were quoted In London on Friday. The prices are elf Rotterdam and are quoted In US dollar per ton unless otherwise stated. Friday Prrv Malaysia 5% ft a bulk 509 sir Apl May 500 sir Sumatra 5% 520 sir Feb 512.50 sir Mch119 words
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Article294 1977-02-14 8 HINK.SK PKOIH.CE EXCHANGE, SINGAPORE NOON CLOSING PRICES PKK PICCL ON SATURDAY Coconut Oil Bulk $85 sellers, old drum $90 sellers, new drum $95 sellers Copra Mixed (loose) UK/Cont. $55 buyers Pepper Muntok ASTA white fob NLW $350 sellers. Sarawak white f ob 96"+i NLW $330 sellers. Sarawak special294 words
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Article476 1977-02-14 8 IN the Singapore gold market on Saturday, the kilobar was thinly traded between SSIO.BOO and $10,830. The Loco London gold opened at U*****.60/ 136.00 and firmed up later to close at $135.90/ 136.25. Source: Singmas The Singapore Chinese Gold and Silver Merchants Association on Saturday quoted the retail price476 words
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Article214 1977-02-14 8 LONDON, Sun. Copper wirebars fell on the day by fully £5.50 for Cash and £7.50 for Three Months on Friday. Pre-weekend covering steadied the market during early first ring dealings where Three Months traded up to £856 per tonne. Liquidation and stoploss selling then reversed the trend following a214 words
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Article182 1977-02-14 8 LONDON, Sun. Silver eased by 1.2 pence to 2.5 pence per troy ounce on Friday. The market held steady during slow ring dealings at up to 270.3 pence for "Hiree Months. On the kerb, however, values fell away under long liquidation prompted by a similar movement In US futures,182 words
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Article199 1977-02-14 8 LONDON, Sun. After the lunch break on Friday, futures drifted back from the morning's higher level under mixed selling and lorg liquidation prompted by lack of follow through, to the earlier trade buying interest. At the close, prices were t'0.60 down to £0.65 up, while sales totalled 2,450 lots.199 words
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Article104 1977-02-14 8 BANGKOK, Sun. Indicative prices for rice quoted in Bangkok on Saturday were: US dollars per tonne fob basis Bangkok. 100 per cent Ist class 282 100 Der cent 2nd 267 100 per cent 3rd 262 5 per cent 254 10 per cent 233 15 per cent 230 20 per104 words
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Article90 1977-02-14 8 LONDON. Sun. Lead closed on Friday, with gains of €11 for Cash and £10.50 for Three Months. Heavy short-covering, stoploss and chart buying gave the market a sharp boost and Three Months traded up to a new high of £383 per tonne during first ring dealings. Sentiment was mainly90 words
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Article40 1977-02-14 8 LONDON. Sun. Zinc rose by £5.25 for Cash and £4.50 for Three Months on Friday. Prices were marked up, reflectlne the trend in lead but dealings were routine. Three Months finished trading at £422 after sales of 1.200 tonnes.40 words
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Article68 1977-02-14 8 Feb 7 Feb 8 FebS Feb 10 Feb II Feb 12 tTtn: $1,534.00 $1,527 00 $1,***** $1,537 00 $1,530 00 $1,523 00 Tonne: 230 250 235 220 225 213 •Rubber (S): 200 Ma 198 50a 206 00b 205 75b 205 25b •Rubber (M): 205 75a 208 50a 210.25b68 words
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747 1977-02-14 8 BUYING by China and Russia in the world commodity markets has always had Its bullish impact. If they were not buying wheat, it must be grains, rubber or edible oils. In recent weeks, both these Communist countries were making their presence747 words
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Article267 1977-02-14 8 LONDON, Sun. Coffee futures came under late weekend profit-taking and dealer liquidation on Friday to close slightly easier, but £22 to £44 per tonne up from Thursday night. Volume was 3.982 lots, Including 80 options. Earlier new contract highs had been established in all, but the distant Mch position,267 words
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Article131 1977-02-14 8 CHICAGO, Sun. Wheat futures closed with losses of three to 3V» cents a bushel, on Friday, finishing a thin trade at the day's lows. Weaknesses In other pits prompted profit-taking and speculative selling which took prices lower in the mainly local trade. Selling pressure was not great, however, as131 words
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Article139 1977-02-14 8 CHICAGO. Sun Soybean futures closed at the day's lows, with losses of 2V» to 6'« cents a bushel, at the end of a light trade on Friday. The favorable export commitments report and the large crush reported by the NSPA contributed to early carryover firmness but profit-taking and speculatively139 words
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MONEY AND EXCHANGES
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Article247 1977-02-14 8 THE US dollar held steady in thin trading at a $2.4585/95 level on the first day of the week. Although the US unit fell shaiply In Europe against major continental currencies amid continuing concern over the impact of the severe US winter cold on the economy, trading US$/ S$247 words
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Article262 1977-02-14 8 Asian rates TRADING were slack In fixed dates early In the week, reflecting thin Interests. However. It closed marginally harder towards close of the week. Weekly Fed. figures show an increase of 200 in Ml supply 300 In M 2 supply. Short dates held steady. ASIAN currency average deposits rates262 words
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Article32 1977-02-14 8 Source: Astley and Pearce OVERNIGHT funds came easily towards closing each day of the week, reflecting a flush market. However, periods were steady, with activity mostly In the One Month.Source: Astley and Pearce - 32 words
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Article284 1977-02-14 8 Source: National Discount Co. DESPITE easier Interbank overnight rate, the short term deposit rates remain firm, reflecting the cautious attitude of most market operators who were anticipating some degree of tightness in the money market owing to cash withdrawal for the Lunar New Year. Some surplus overnight fundsSource: National Discount Co. - 284 words
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Article312 1977-02-14 8 LONDON, Sun. Growing UK trade union opposition to a continuation of the Government's antiinflation wage restraint programme created the most uncertain conditions in sterling for several weeks, on Friday, triggering general selling In the currency in International exchange markets. The pound moved as low as $1.7116, despite receiving Bank312 words
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Article384 1977-02-14 8 ZURICH. Sun. Owing to the feared effects of the severe cold on the US economy, the dollar weakened against most major currencies last week. However, it must not be overlooked that the economic recovery In the US continues as Is Indicated by the sharp rise of consumer credits or384 words
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Article59 1977-02-14 8 Minimum lending rates (in ACBC First Chicago 6* Algemene Bank 6% Citibank 6*» Bangkok Bank .7* HSBC 7 Bank of America 6*1 Indosuez .6* Bank of China .7 Malayan Banking 6\ Bank of Tokyo 6* Mitsui Bank 6*. Bank Negara OCBC 6*i Indonesia .7 OUB 6%. Chartered Bank 6^i UCB59 words
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Article216 1977-02-14 8 NEW YORK. Sun. The dollar closed easier on balance as sterling came under persistent selling pressure on Friday, with funds moving into the stronger currencies. dealers said. The Bank of England intervened actively all afternoon through commercial banks, as the Spot hit a $1.7105 low. continuing earlier intervention216 words
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Article118 1977-02-14 8 Euro rates LONDON. Sun. Period Eurodollar deposits closed marginally harder where changed, after minimal movement In afternoon trading, dealers said. Most shorts held steady although weekend drifted towards the close. Quiet pre-weekend conditions prevailed. Earlier, a few dealers noted modest if patchy activity, but this was of short duration. The118 words
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Article32 1977-02-14 8 FRANKFURT exchanges closing quotes on Feb 11 US 2.4060/68 Can 2.3490/3510 UK 4.12/13 Neth 95.60/66 Switz 95.47/52 Italy 2.725/735 France 48.35/40 Japan 0.8450/70 Belg com 6.512/522 Belg fin 6.512/522 Norw 45.45/5132 words
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Article42 1977-02-14 8 FOR the week ended Friday Feb 11, the range of call rates reclved from Short Deposits (M) Berhad was as follows: BANK FUND: 3% 5% per cent. GENERAL FUNDS: 3V* 5 per cent. Movements of funds totalled $383 million.42 words
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Advertisement146 1977-02-14 8 Mmm* v T i ne utiiy Japaßeseßp||i|t. in Singapore, dhiel Representative: Sa nfr «I»V V/l live < Itoh. v iS^mWE rv -> Cv« ,v <r> We are Japan's oldest trust bank and command a key position in the Mitsui Group. Our services are worldwide in scope. We have the research146 words
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1014 1977-02-14 9 CLEM THOMAS; DONALD WOODS - "We know what it is like when the world looks on you with suspicion and what is worse with hatred," said Dr Danie Caraven at an informal press conference in London last week. As president of the South African Rugby Board, Dr CravenThe Observer - 1,014 words
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Article777 1977-02-14 9 DONALD WOODS - By DONALD WOODS The Observer BROADLY Dr. Craven's statements reflected the views of the South African Minister of Sport, Dr. Piet Koornhof, who if he has his way will oversee dramatic changes in the domestic rugby scene this year. The country's four separate rugby bodies willThe Observer - 777 words
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Article410 1977-02-14 9 SELETAR Golf Club captain Joe Goh gave his club members a golf lesson when he walked away with the "A" division Monthly medal Stableford title with 35 points at Seletar yesterday. Goh, handicap 10, had a birdie and seven pars In his round. Austin Watts had410 words
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Article636 1977-02-14 9 LONDON, Sun. xpswlch and Manchester City each gained a 1-0 win yesterday and closed In grimly behind Liverpool in the race for the English soccer championship. Liverpool's scheduled game against Coventry wa& postponed because of a waterlogged field. Although Ipswich pegged Aston Villa back for636 words
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Article, Illustration562 1977-02-14 9 GENEVIEVE MURPHY - By GENEVIEVE MURPHY LONDON, Sun. THE MYSTIQUE that surrounded and suffocated British dressage for far too many years looks as though It has finally been given the bum's rush. As the art form of equestrianism, the ultimate In subtle communication between horse and rider,562 words
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Advertisement174 1977-02-14 9 AW HEAT s EXCHANGERS (INDUSTRIAL AND PROCESS) MADE IN SINGAPORE Computer Designed per HTRI programs with many years experience in all phases of Heat transfer. Also members of H.T.F.S. (HARWELL, U.K.) Shell and Tube exchangers for petroleum, chemical, power or marine applications. We do both the process and mechanical design174 words
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Advertisement258 1977-02-14 9 Had he heard of Chinese New Year, it could be said Signor Marelli created his shoes just for the occasion. Very many years ago, in Italy, there existed an exceptionally skillful bespoke bootmaker one Signor Marelli. Signor Marelli's skill in fashioning and working leather earned him a widespread reputation and258 words
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679 1977-02-14 10 THE communists will continue to be the main threat to Singapore's Internal security. They may try to launch sporadic acts of sabotage and violence to shake business confidence here. This warning is given by the Ministry of Home Affairs in679 words
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145 1977-02-14 10 Reuter WASHINGTON. Sun. Forty per cent of all the US ammunition on order by 60 countries is destined for Iran. Congressman Mr. Les Aspin said today. "I question whether Iran needs that much ammo for legitimate training purposes and defence stocks," the WisconsinReuter - 145 words
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Article888 1977-02-14 10 WHEN Zurich's capital market opens today, Swiss Investors will get their second chance to Invest In another Asian government bond. Their first came from Japan. Today's offer comes from Singapore. The Republic's SFr 50 million 12-year bond Issue, will bear a coupon rate of888 words
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550 1977-02-14 10 IN a series of confessions published at the weekend, lawyer Gopalan Krlshnan Raman, who was arrested last Thursday, admitted to being a communist and to having active links with other communist and sympathisers, here and abroad. He said that in correspondence with "Eurocommunists,"550 words
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183 1977-02-14 10 UPI AUSTIN, (Texas), Sun. US Labour Secretary Mr. Ray Marshall said yesterday President Carter's economic recovery package will eventually bring full employment in the United States, but said constraints of time and bureaucracy will prevent the recovery from moving as quickly as he prefers. Mr.UPI - 183 words
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Article149 1977-02-14 10 KUALA LUMPUR, Frl. The Malaysian timber Industry is embarking on the second phase of Its attempt to restore the credibility of Malaysia as an exporter of timber and timber products. The second phase will be concerned with the question of ensuring that the quality of149 words
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Article100 1977-02-14 10 KUALA LUMPUR, Sun. Trade marlu of companies or individual* registered and approved under the new central system to be implemented soon will be valid in Peninsular Malaysia, Sabah and Sarawak. A Ministry of Trade and Industry spokesman said today, there are three trade marks ordinances governing100 words
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Article107 1977-02-14 10 Reuter MANILA, Sun. The Philippines expects to produce 3.93 million tonnes of rice this year, making the country self-sufficient In the cereal for the second year running, according to a government memorandum published here today. The 4.6 per cent increase In productionReuter - 107 words
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396 1977-02-14 10 AP WASHINGTON. Sun. The United Steel Workers Union turns from Internal election battles to contract negotiations with the American ste«l industry this week. The contract they forge will affect prices paid for goods ranging from paper clips to automobiles. Mr. I. W. Abel,AP - 396 words
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Article260 1977-02-14 10 Reuter WASHINGTON. Sun. America's Federal Aviation Administration (FAA) said yesterday it was investigating reports that substandard parts were sold to helicopter fleets serving such leaders as Britain's Queen Elizabeth, the Shah of Iran and President Anwar Sadat fo Egypt. The FAA was commenting on a reportReuter - 260 words
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Article73 1977-02-14 10 KUALA LUMPUR, Sun. Umno Youth Daman sara will appeal to Datuk Hussein Onn to accept Syed All Albar, eldest son of former Umno youth leader Tan Sri Syed Jaafar Albar, as the National Front candidate in the Panti parliamentary by-election. This resolution was made at an executive73 words
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203 1977-02-14 10 NYT PLAINS, Sun. President Carter said yesterday that be would cut the level of defence spending recommended by President Ford in January but that the revised budget would still contain a substantial increase over the previous fiscal year. The President disclosed, in what amountedNYT - 203 words
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230 1977-02-14 10 Reuter LONDON, Sun. Britain's first major union executive voted overwhelmingly yesterday to resist further pay curbs as pressure mounted among the country's skilled workforce for a return to unrestricted wage bargaining. Skilled workers say the Government's two-year-old wage restraint policy has eroded theirReuter - 230 words
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Article147 1977-02-14 10 UPI THE HAGUE, Sun. Labour and management negotiators worked out agreements In an 11-hour session that ended early today on all but a single issue In a week-old strike that could Involve 50,000 men in the coming days. Spokesmen for both sides said It hadUPI - 147 words
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Advertisement99 1977-02-14 10 H fir, 4 V!« MM savours of Olde England Lunch or dine in a grill room that savours of Olde England with food just as savoury. The Stables an ideal place to combine business with pleasure. Cosy and private, with English-manner service too. Chef 's Specialities Lobster Clarence —lobster slices99 words
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Advertisement176 1977-02-14 10 JTI IK (4 WH» Departing every Tuesday Thursday Other PIA Destinations: Abu Dhabi Athens Amsterdam Bangkok Bahrain Baghdad Bombay Colombo Cairo Copenhagen Chitral Doha Dhahran Dacca Damascus Delhi D. I. Khan Gilgit Gwador Hyderabad Istanbul Jeddah Jiwani Kuala Lumpur Karachi Kuwait London Lahore Lyallpur Manila Muscat Muftan Moenjodaro Nairobi Nawabshah176 words
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