The Business Times, 28 February 1977
1977-02-28
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The Business Times
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Title Section10 1977-02-28 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, FEBRUARY 28, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article78 1977-02-28 1 Reuter JAKARTA, Sun. Indonesian Foreign Minister Adam Malik said here last night that the Prime Ministers of Australia, New Zealand and Japan might be invited for talks with heads of government of Asean. The second Asean summit to be held In Kuala Lumpur In August wouldReuter - 78 words
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Article64 1977-02-28 1 Reuter HONGKONG, Sun US Commodity Futures Trading Commission vice-chairman John Rainbolt and commissioner Gary Seevers will visit here next week to look at the Hongkong commodity exchange, Government sources said. Mr. Ralnbolt and Mr. Seevers are scheduled to meet officials of the Securities Commission, charged withReuter - 64 words
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Article63 1977-02-28 1 Reuter NEW YORK, Sun. Japanese economic growth In the fiscal year beginning April 1, Is likely to be higher than seven per cent In real terms, Chlakl Mishlyama, economics professor at Rlkkyo University, told a news conference. He said his projection compares with a Japanese government growthReuter - 63 words
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Article64 1977-02-28 1 Reuter CAIRO, Sun. The World Bank is to provide Egypt with a long-term loan of US$7O million (Ssl72 million) to deepen and widen sections of the Suez Canal, the Egyptian official Middle East News Agency (MENA) reported over the weekend. It quoted the canal authority chairman, MashourReuter - 64 words
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Article64 1977-02-28 1 Reuter WASHINGTON, Sun. US productivity In nonfinancial corporations rose four per cent In 1976, the largest increase since 1964, following a gain of 2.8 per cent in 1975, the Labour Department reported. During 1976 output increased 7.3 per cent and hours worked rose 3.2 per cent followingReuter - 64 words
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Article62 1977-02-28 1 Reuter NAIROBI, Sun. President Idi Amin has agreed to postpone his meeting with all the estimated 240 Americans in Uganda from tomorrow to Wednesday because of the distances some of them have to cover to reach Entebbe. Radio Uganda said the meeting would be at the airport,Reuter - 62 words
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Article47 1977-02-28 1 AP LISBON, Sun. Portugal's stock exchange reopens tomorrow for the first time in three years. The exchange Is scheduled to open briefly for trading in company shares. There will be controls to prevent fluctuations of share prices and the speculation which existed previously. APAP - 47 words
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Article49 1977-02-28 1 Reuter JAKARTA, Sun. President Suharto will dedicate a newly built nickel plant capable of producing 16.000 metric tonnes of nickel matte annually in central Sulawesi (Celebes) in April, a Mining Ministry spokesman said today. The plant, run by Canadian Inco Ltd, will also produce ferro nickel. ReuterReuter - 49 words
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Article34 1977-02-28 1 KUALA LUMPUR, Sun. The DAP will hold its congress on March 26 and 27 to review the party's policies as a first step in its preparation for an early general election.34 words
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Article37 1977-02-28 1 Reuter CARACAS. Sun. Venezuela's oil production so far this year averaged 2,338,233 barrels a day, an increase of 28.81 per cent compared with the similar period last year, the Mines Ministry said. Reuter.Reuter - 37 words
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Article38 1977-02-28 1 SINGAPORE beat Thailand 2-0 In the opening match of the Pre-World Cup soccer tournament at the National Stadium last night. Both goals came in the second half. Scorers were Quah Kim Song and S. Rajagopal.38 words
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Article122 1977-02-28 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 T urnover Prices High Low 000 Feb 25122 words
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LOCAL STOCK INDICES
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Article70 1977-02-28 1 Feb 21 Feb 22 Feb 23 Feb 24 Feb 25 B.T. Index: 264.58 263.44 263.55 265.68 261.99 •Industrials: 254.51 252.96 253.35 253.87 253.23 Finance: 443.21 443.21 442.49 442.31 439.34 "Hotels: 157.08 156.89 157.38 157.82 157.32 •Properties: 146 87 146.48 146.44 146.17 145.78 +Tlns: 105.38 105 45 105.45 105.25 105.4070 words
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Article81 1977-02-28 1 Feb 21 Feb 22 Feb 23 Feb 24 Feb 25 ++B.T. Index: 201.81 199.88 200.78 202.41 199.79 •Industrials: 277.14 276.67 277.27 278.30 277.58 Finance: 377.10 375.62 375.82 377.10 374.53 ••Hotels: 171.69 171.69 171.69 171.69 171.69 •Properties: 143.97 143.46 143.11 143.56 143.31 +Tlns: 105.33 105.81 105.89 106.17 106.07 rubbers: 302.9781 words
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951 1977-02-28 1 JOHN TAN - HIGHER PAYMENTS, LOWER REVENUE IN '76 Br JOHN TAN SLOWER revenue growth last year led to a doubling of the 1975 budget deficit to $1.1 billion for 1976, according to part two of the economic survey of Singapore published yesterday. The deficit was however951 words
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150 1977-02-28 1 PRIVATE consumption expenditure in goods and services last year rose by six per cent double the 1975 rate. Household expenditure at current prices Increased seven per cent on account of higher Income and population growth. The survey noted that population was 1.3 per cent150 words
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550 1977-02-28 1 MANUFACTURING activity, stimulated by strong external demand, grew by 10 per cent last year compared with minus two per cent in 1975, created the most new lobs and contributed the largest share (27 per cent) towards overall GDP growth. Manufacturing's share of the550 words
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170 1977-02-28 1 Reuter VIENNA, Sun. Finance Ministers from oil-expor-ting nations will assess priorities tomorrow for the allocation of nearly US$l billion (552.45 billion) in development aid funds. The Organisation of Petroleum Exporting Countries (Opec) has moved into the aid field to help cushion the effects of higherReuter - 170 words
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Article164 1977-02-28 1 Reuter LONDON, Sun. Britain's giant Leyland motor corporation, which produces a quarter of the cars sold In Britain, today neared a total shutdown as a crippling unofficial strike entered Its second week. Shop floor representatives of about 3,000 tool makers yesterday decided to defy theirReuter - 164 words
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Article107 1977-02-28 1 Reuter JAKARTA, Sun. The Indonesian Government hu allocated U552,900 million (556,900 million) to the 1977 annual budget of the stateowned Pertamina oil company. a company spokesman said yesterday. He aaid moat of the money would be spent on production and domestic supplies and added: "Pertamina will haveReuter - 107 words
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335 1977-02-28 1 STRONG productivity advances were recorded in many export-oriented industries last year. This, together with moderate wage increases, helped Singapore to maintain the competitiveness of its products, according to the 1976 economic survey-. Productivity advances were recorded in the textiles, timber, electronics, paper products and335 words
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209 1977-02-28 1 Reuter LONDpN. Sun. The chairman of the London Rubber Trade Association Mr. R.R. Windsor said the security of a floor price for rubber for the benefit of producers must be complemented by price control at a higher level for the protection of consumers. Mr.Reuter - 209 words
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Article342 1977-02-28 1 NYT WASHINGTON, Sun. The Carter Administration, according to well-placed sources, has apparently narrowed Its choice for the chairmanship of the Securities and Exchange Commission to two men Mr. Harold Williams, dean of the Graduate-School of Management at the University of California at Los Angeles, and Mr.NYT - 342 words
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Article23 1977-02-28 1 UPI FRANKFURT, Sun. Economics Minister Hans Friderichs said today, he saw good prospects for an acceleration of West Germany's economic recovery.UPI - 23 words
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Page 1 Advertisements
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Advertisement56 1977-02-28 1 HsF @Wiyfoong X^Ung hand when YVa*foong Mortgage you need and Finance (Singapore) Limited lv IllOJ>l Shaw House. Ground Floor, 354 Orchard Road. Singapore 9. Tel: *****7. INSIDE Leisure/TV Radio leisure/Crossword Features Overseas A International Co news Local Co news P2. Overseas P3 markets/Share inforP4 mation P7 Commodities P8 P5 Sports56 words
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Advertisement133 1977-02-28 1 Bank with Chase and give yourself the Chase advantages. There are so 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.133 words
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Advertisement167 1977-02-28 1 AMERICAN! ■EXPRESS We work hard to make your money work for you American Express International Banking Corporation Sfting K*an Mouse 4 Shenton Way Singapore 1 Tel 220 2311 Teie> RS2io74Cat>ie AWEXBANK ZZ. V m Why the Excelsior That's your business The reason might be the Executive Business Centre. You'll find167 words
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Article760 1977-02-28 2 JUDGING from the survey published at the weekend by the Finance Ministry, Singapore's economic performance last year was, In the circumstances, a most creditable one and certainly better than could have been anticipated 12 months ago. The analysis of the year, published as a preliminary to today's760 words
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REVIEWS
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Article, Illustration953 1977-02-28 2 HERBERT MITGANG - By HERBERT MITGANG NYT The Game of Disarmament: How the United States and Russia Run the Arms Race. By Alva Myrdal. 397 pages. Pantheon books. USSIS. IN THE realm of intercontinental warfare and the arms race, the vocabulary of the military expertsNYT - 953 words
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1046 1977-02-28 2 MUSIC CKT QUITE apart from an extravagant excursion into fiction In last week's Romeo and Juliet episode, the truth remains that Tchlkovsky was uncommonly accommodating 'with Balaklrev's suggestions. So accommodating you would reckon that artistic pride had died when Tchaikovsky was In his twenties.CKT - 1,046 words
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Article, Illustration867 1977-02-28 2 RICHARD LINGEMAN - BOOKS By RICHARD LINGEMAN NYT America In Our Time. By ■Godfrey Hodgson. 564 ptfei. Doubleday company. U5512.95. BEFORE all the clouds of post-Inauguration euphoria and new spirit are dissipated, it might be approfjrlate to devote a long deep ook back at what ItNYT - 867 words
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Article, Illustration1668 1977-02-28 3 ALAN LEE - By ALAN LEE CHEMICAL Company of Malaysia makes quite a claim for Its 10 years' existence In Malaysia and offers no apology for blowing Its own trumpet. It Is currently producing around half of Malaysia's total fertiliser consumption and claims, with some1,668 words
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Article, Illustration916 1977-02-28 3 LAU TEIK SOON - By LAU TEIK SOON Dr. Lau Teik Soon is the Acting Head, Department of Political Science, University of Singapore and Member of Parliament, Serangoon Gardens. MONDAY: The President has made his address and It Is the turn of the MPs. One could respond either by making comments916 words
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880 1977-02-28 3 TERRY ANDERSON - By TERRY ANDERSON AP WITH Japanese workers getting more and more time off, Japan Is on the verge of another leisure boom, government experts say. But this time, they'll use the time for relaxation, not the frenetic sports activity that markedAP - 880 words
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Page 2 Advertisements
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Advertisement309 1977-02-28 2 Inchcape Trading Associates invite applications for the post of iifTTTMT: for their Advertising Department. The selected applicant must be a Singapore citizen and preferably be of age between 30 and 40 years old. Five years' current experience in advertising and related fields is essential. The successful candidate must have initiative309 words
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Page 2 Miscellaneous
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Miscellaneous297 1977-02-28 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Feb 27 at Singapore airport: Maximum temperature 2X.4°C Associated humidity 74 Minimum temperature 22.1° C Associated humidity 10(1 Hours of sunshine 2.25 Rainfall in millimetres Trace Total rainfall for the month 194.4 Total rainy days for the month297 words
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Page 3 Advertisements
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Advertisement104 1977-02-28 3 ncm 10 FURIIITIiRE For OFFICE EQUIPMENT and QUALITY SHELVINGS t J* j 11 n s A complete range of quality office furniture and equipment consisting of desks, cabinets, chairs and all other office requirements. OEM open and closed type shelvings provide flexi ble load carry capacity for every storage need.104 words
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Page 3 Miscellaneous
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Miscellaneous406 1977-02-28 3 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 1 Cause to be frowning or wry, maybe (5) 6 Tessa's back In possession (5) 9Strange Eastern pledge (7) 10 Go for four weeks (5) 11 It Informs on the use of wood-pulp (5) 12 There's something sticky about crime (5) 13 Panicky old girl?406 words
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Article, Illustration605 1977-02-28 4 STEVEN RATTNER - By STEVEN RATTNER NYT THE outline of Texas In the corporate symbol Is hardly a clue. Nor are the gleaming offices on the 39th floor of one of the city's best buildings. But In the reception room, amid the nature photography, the velvet chairs andNYT - 605 words
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Article, Illustration1315 1977-02-28 4 Milton Chase - By Milton Chase A BATTLE Is looming in the US Congress over a Bill to authorise the sale of up to 30,000 long tons of Grade "A" tin within the United States from the US strategic stockpile of over 200.0001,315 words
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Article, Illustration811 1977-02-28 4 QUEK PECK LIM - By QUEK PECK LIM IF THE Government does act to limit the ownership of newspaper companies to no more than three per cent per person, the first result would be to bring more shares to the stock market. This Is811 words
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Article, Illustration785 1977-02-28 4 GILL WEBSTER - By GILL WEBSTER THE Commission locked Impressive. It stood, alone, at the top of the hill, on Its own Island. It was glowing as the sun shone on the thousands of panes of glass that make up this vast, triangular-shaped785 words
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Page 4 Advertisements
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Advertisement169 1977-02-28 4 Your important contacts are made at Hanover Fair '77' April 20-28 Advertising Building materials and components, prefabricated and system building Catering Chemicals, rubber and plastics technology Cleaning and maintenance of property Construction equipment Decorative consumer goods Distribution of electricity Domestic electric installations and equipment Electric lighting Electronic components and assemblies169 words
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Page 4 Miscellaneous
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Miscellaneous177 1977-02-28 4 Crossword solutions CRYPTIC SOLUTION ACROSS 1, Worry. 6, AsseT (rev). 9, Earnest. 10, March. 11, Paper. 12, Re-sln. 13,' Flapper. 15, Hem. 17,' Ryde. 18, Figure. 19,' Plain. 20, Stream. 22,' Part. 24, Kin. 25j Thrones. 20, Ha-blt. 27,. Laced. 28, A-ltch. 29, Rlbans. 30, Seven. 31/ Sheep. DOWN. 2,177 words
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OVERSEAS
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Article658 1977-02-28 5 TOKYO, BONN IN FOR LASHING AS Reuter PARIS, Sun World economic developments and the prospects for restarting the stalled North-South dialogue will dominate a series of meetings in Paris this week, International economic sources said. West Germany is likely to face mounting criticism of itsReuter - 658 words
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218 1977-02-28 5 NYT NEW YORK, Sun. the Chase Manhattan Bank Is adopting a more restrictive policy on loans to certain developing countries, the chairman of the bank, Mr. David Rockefeller, said. Mr. KocKeieller's remarks came following a claim by Senator Hubert Humphrey that two ofNYT - 218 words
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751 1977-02-28 5 NYT WASHINGTON, Sun. The financial disclosure statements released on Friday by the White House show that President Carter's Cabinet members and other top aides already have taken a number of significant actions designed to avoid actual or potential conflict of Interests. TheNYT - 751 words
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290 1977-02-28 5 Reuter LONDON. Sun British Trade Union Congress general secretary Len Murray said the TUC is committed to discussing pay policy with the Government with the aim of reaching agreement. He told a press conference the TUC made it plain to the Chancellor ofReuter - 290 words
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Article202 1977-02-28 5 Canadian to fall? Reuter TORONTO, Sun. Bank of Nova Scotia executive vice president Mr. Robert Mac I nt o 5 h said he expects the Canadian dollar will decline to 90 cents against the US dollar this year. Mr. Macintosh told Reuters the dollar is in for wide fluctuations overReuter - 202 words
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241 1977-02-28 5 Reuter NYT BONN. Sun. West Germany a economic recovery could soon accelerate if demand continued its recent stronger growth, the Economics Ministry said in its monthly report. The increase in new industrial orders has been particularly marked, with the capital goods sectorReuter; NYT - 241 words
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138 1977-02-28 5 Reuter LONDON. Sun. The Reuters' commodity Index on Friday rose 15.3 points above Its previous record level, achieved on Thursday to a new peak of 1,661.6. This increase largely reflected gains to the International Coffee Organisation (ICO) prices for Feb 24, which in turnReuter - 138 words
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Article385 1977-02-28 5 AP Reuter NAIROBI, Sun. A highlevel Cuban Military team has arrived In Uganda to study President Idl Amln's "military needs," the Standard of Nairobi newspaper reported over the week. Quoting "informed sources," the paper said the visit came in the wake of a military pact concludedAP; Reuter - 385 words
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365 1977-02-28 5 UPI GARDEN CITY (New York), Sun. Mr. William Atwood, publisher of the Long Island newspaper Newsday, said yesterday a recent visit to Cuba gave him the impression that prospects for normalising Cuban-US relations are rapidly evaporating. "In fact, it is likely that oneUPI - 365 words
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INTERNATIONAL COMPANY NEWS
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Article321 1977-02-28 5 Reuter MILAN, Sun. Pj rell SP chairman Leopoldo Pirelli said he will propose to the company's board the payment of an 80 lire dividend to shareholders for the year ending April 30. Mr. Pirelli last paid 50lire for the year ended April 30 1975, after passingReuter - 321 words
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Article451 1977-02-28 5 NYT WASHINGTON, Sun. The Securities and Exchange Commission decided early this month after several weeks' deliberation that stockholders of RCA need not be given the chance to vote on the resolutions involving company contributions for animal experimentation. The proposals had been put forward byNYT - 451 words
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Article119 1977-02-28 5 Reuter TOKYO, Sun. Hungary Is to get a US$2OO million suppliers credit from a consortium of ten Japanese trading houses to step up its imports of machinery and equipment from Japan, Japanese Trade-Industry Ministry sources said. It will purchase industrial plant, including a polyacrylic fibreReuter - 119 words
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Article228 1977-02-28 5 Reuter TOKYO, Sun. The Federation of Securities Dealers Association said the outstanding balance of transactions In gen-saki trading totalled 2,260 billion yen at the end of January, compared with an estimated 2,080 billion a month previously. Out of the total, 1,009 billion represented securities companies' dealerReuter - 228 words
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165 1977-02-28 5 Reuter TOKYO, Sun. The Finance Ministry and Japanese securities companies are currently looking into the possibility of permltting Japanese shareholders of IBM shares to respond to the company's offer to buy them in "tender offer," a ministry spokesman said. IBM Japan relayed to theReuter - 165 words
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Article150 1977-02-28 5 Reuter SAN FRANCISCO. Sun. Dow Chemical anticipates price increases averaging five per cent in 1977 to cover rising costs, financial vice president Mr. G. James Williams said. Mr. Williams, in prepared remarks to an analysts' meeting here, also disclosed that the company expects capital expendituresReuter - 150 words
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Article46 1977-02-28 5 ST LOUIS, Sun. Union Electric said it filed a registration statement with the Securities and Exchange Commission covering a proposed offering of five million common shares. Lead underwriters will be White. Weld. Bache Halsey Stuart. Lehman Brothers and Merill Lynch, Pierce, Fenner and Smith.46 words
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Page 5 Advertisements
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Advertisement152 1977-02-28 5 ■:-s '-i 4% i' Now at Sher m m*- i c IP if -X f The Only Japanese Trust Bank Office in Singapore. Chief Representative: Saburo Itoh. We are Japan's oldest trust bank and command a key position in the Mitsui Group. Our services are worldwide in scope. We have152 words
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COMPANY NEWS
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1054 1977-02-28 6 CONTRARY to its own expectations, Hytex plunged deeper into the red in the year ended Sept 30, 1976 by incurring a group pre-tax loss of $2.18 million compared with $1.69 million previously. The parent company fared no better, suffering a pre-tax loss of $1.211,054 words
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COMPANY MEETINGS
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Article22 1977-02-28 6 THE following company meetings are due: Feb 28. 10 a.m.. Registered Office, Ist Floor. M.C.A. Building, Jalan Brewster. Ipoh.22 words
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Article15 1977-02-28 6 Feb 28, 12 noon, at Supreme House (11th Floor). Penang Road. Singapore.15 words
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18 1977-02-28 6 Feb 28. 12.30 p.m.. at Supreme House (11th Floor). Penang Road. Singapore.18 words
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18 1977-02-28 6 Mar 4, 11.30 a.m., at Hotel Negara. 19 Claymore Drive. Singapore 9.18 words
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Article23 1977-02-28 6 Mar 7. 12 noon, at the Ballroom. Lower Lobby of the Regent of Kuala Lumpur. Jalan Imbi, Kuala Lumpur.23 words
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17 1977-02-28 6 Mar 9, 12 noon. Registered Office. 3m.5., Jalan Kluang. Batu Pahat, Johore.17 words
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Article13 1977-02-28 6 Mar 15. 2.30 p m.. 70 Jalan Ampang. Kuala Lumpur.13 words
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Article16 1977-02-28 6 Mar 17, 11 a.m.. Registered Office, 178-3 Jalan Sungel Besl, Kuala Lumpur.16 words
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Article15 1977-02-28 6 Mar 21, 10 a.m.. 13th Floor. Tunas Building. Anson Road, Singapore 2.15 words
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Article13 1977-02-28 6 Mar 25, 12 noon. Registered Office. 14 Lokyang Way. Singapore 2Z.13 words
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Article49 1977-02-28 6 ALUMINIUM CO. OF MALAYSIA Pre-tax profit M 5847.000 ($1.05 million) on sales revenue of $29.46 million ($20.59 million) for the year ended Dec 31, 1976. Depreciation $920,000 ($869,000) and taxation $399,000 ($80,000). Final dividend nil (10 per cent) making total dividend 10 per cent (20 per cent).49 words
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441 1977-02-28 6 SLATER, Walker, Ltd., the banking subsidiary of Sla- i ter. Walker Securities, has 1 sold the Mandarin Build- i lng In Hongkong, which 1 belonged to Haw Par Bro- < thers International, for HK$36 million. Haw Par says in a statement that SWL negotiated441 words
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Article183 1977-02-28 6 Current Ex Date Total for Total for payment Date payable the year previous year Straits Times 27.5% Feb 11 Mar 3 27.5% Times Publishing 17.5% Feb 11 Mar 3 27.5% 25% M. Tobacco 35% Feb 7 Mar 18 50% 40% Wilkinson Process 15% Mar 7 Mar 24 20%183 words
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Article2449 1977-02-28 6 1976 High Low Company Last Sale Week +OTGr's Div Div C'vr Gr'» Yld Nrt P/K Week Vol ('IMM} Week High Ixjw SECTION ONE INDUSTRIALS 1 175* 133 206 100 237 186 201* 204 248 460 133 130 172 60 185 66 127* 149 172 3842,449 words
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Page 6 Advertisements
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Advertisement141 1977-02-28 6 found only in the Penguins in Business and Management Understanding Company Financial Statements: J. Parker Organization Theory: D. Pugh Business Strategy: H. Ansoff Corporate Strategy: H. Ansoff Exploration in Management: W. Brown Modern Management Methods: E. Dale Offensive Marketing: J. Davidson Business of Management: R. Falk Modern Business Enterprise: M.141 words
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WALL STREET AND OTHER OVERSEAS MARKETS
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Article1185 1977-02-28 7 NEW YORK: A timid early afternoon attempt to break the stock market's downhill slide failed to carry through, as prices closed mostly mixed for the sixth straight decline on Friday. The advance, which began shortly after midday, was sparked by bargain hunting for some recently-depressed blue chip stocks,1,185 words
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Article310 1977-02-28 7 FRANKFURT: Most shares lost up to two marks In uncertain trading, market sources said on Friday. In electrlcals, Siemens lost 1 30 marks and BBC 5.70. Aef was well maintained. Leading banks, chemicals, motors and engineerings eased up to two marks Among Uttlechanged steels, Kloeckner-Werke fell two marks, while310 words
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Article327 1977-02-28 7 AMSTERDAM: The market eased, with some Investor demand Insufficient to compensate for arbltage offerings, dealers said on Friday. Wall Street weakness depressed sentiment and trading was very calm. Royal Dutch led Dutch internationals 2.10 guilders lower. Akzo fell 0.80 after announcing It will pass Its final dividend for the327 words
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Article143 1977-02-28 7 BRUSSELS: The market was mixed In quiet trading, with activity still centred on gold shares, dealers said on Friday. Finoutreraer. Wagona-Lita and CockeriH rose, while HainautSambre, Tessenderloo, Arbed and Aaturienne fell French stocks were mixed. Golds were higher where changed, but other foreign fpll US Petroflna rose, but Petroflna143 words
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Article301 1977-02-28 7 TORONTO: Papers and metals paced a broad upturn over the dlnal two hours of activity on Friday Trading was light. One analyst suggested Investors were Jockeying for stock In those sectors which would benefit the most from the weakened dollar. DomUr advanced H at 14-H, MacMillan Bloedel '4 at301 words
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Article298 1977-02-28 7 ZURICH: The market edged lower In light volume, dealers said on Friday A release of remaining minimum reserves by the Swiss National Bank hardly Influenced the market Major banks generally eased, apart from firmer Leu bearer and Paribas (Suiase). Results of Schweiz Bankgese Use haft and a proposed capital298 words
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Article428 1977-02-28 7 PARIS: The market mainly moved higher In thin trading, with news of the 0.3 per cent rise In retail prices In January and the steadiness of the franc against both the mark and the Swiss franc encouraging Investors. dealers said on Friday Foods, electrlcais and chemicals led the uptrend428 words
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Article475 1977-02-28 7 TOKYO: Share prices closed higher on Saturday led by petroleums reflecting the yen's rising value against the US dollar, dealers said. The Dow Jones average gained 17.77 to close at 5,068.64 with volume 150 million shares. The New index closed at 382.52, up 0.39. Many shares which will benefit475 words
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Article365 1977-02-28 7 JOHANNESBURG: The market was easier towards the close on profit-taking after a firmer opening, dealers said on Friday. Gold shares, firmer during the morning on overseas buying Interest, eased towards the close on London selling, dealers noted. Mining flnanctals were marginally firmer and AmgoM gained 175 cents to 2,700365 words
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Article1382 1977-02-28 7 On February 25 ON the Chicago Board Options Exchange. 98.637 contracts were traded on Friday compared with Thursday's 101.536. with 232 contracts higher against 240 on the down side. OPTION APL JLY OCT STOCK Alcoa 50 4 4 7/8 5 7/8 53 1/2 Alcoa 00 1/8 3/41,382 words
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Article156 1977-02-28 7 MILAN: The market closed Irregularly higher In modest trading on Friday Selling pressure lessened but buyers continued rather cautious, dealers said. All leading Industrials firmed generally while Battogi was marginally lower In mixed flnanclals Auicuraxioni Genrali unchanged In Insurances while Mediobanca gained In well disposed banks Bonds were quietly156 words
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Article62 1977-02-28 7 FINANCIAL TIMES INDUSTRIALS Friday 401.7 Thursday 402.3 Week ago 393.0 DOW JONES AVERAGE INDUSTRIALS Friday 933.43 Thursday 932.60 Week ago 940.24 LONDON DOLLAR PREMIUM Friday 107%. to 108 V4 Thursday to 108 Mi H.K. HANG SENG Friday 425.42 Thursday 430.34 Week ago closed SYDNEY INDUSTRIALS Friday 347.72 Thursday 345.9662 words
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Article176 1977-02-28 7 NYT INFLATION anxieties caused the stock market to register a modest decline last week In continued slow trading. The Dow Jones Industrial average dropped 6.81 points during the week to finish at 933.43 on Friday. The weakest performers were the glamour and secondary issues. VolumeNYT - 176 words
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166 1977-02-28 7 TOKYO, Sun. The Finance Ministry said net foreign Investment in Japanese bonds and debentures during January totalled US$26l million compared with $185 million in December. Foreign purchases In January totalled $392 million and sales $131 million compared with $327 million and $142 million, respectively, in166 words
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Bonds
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Article57 1977-02-28 7 Reuter LUXEMBOURG, Sun. The 100 million marks Eurobond issue for the Brazilian state-owned development bank Banco Nacional do Desenvolvlmento Economlco (Nafln) is expected to be for seven years at 8.75 per cent and probably priced below par, bond market sources said. Sources in Franfurt said the bond should beReuter - 57 words
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Article60 1977-02-28 7 Reuter VIENNA, Sun. Oesterreichische Volksbanken will float a 500 million schilling eight per cent loan In two tranches from March 1 to 3, primary market sources said. The first tranche has a life of 15 years and will be issued at 98.5 per cent, the second a life ofReuter - 60 words
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Article63 1977-02-28 7 Reuter FRANKFURT, Sun. The German government is Issuing a 700 million mark seven per cent seven year bond at par, the Bundesbank said. A total of 600 million marks will be put on sale by the Issuing consontium between March 2 and 4 and 100 million retainedReuter - 63 words
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Article54 1977-02-28 7 Reuter FRANKFURT, Sun. Broken Hill Pty. plans to raise US$6O million through a Eurobond Issue this week In two equal tranches, bond market sources said. The tranches are expected to be of seven and 12-year maturities but further conditions have not yet been set. Lead manager Is DeutscheReuter - 54 words
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Article92 1977-02-28 7 Reuter FRANKFURT. Sun. Sweden is conslderlng ralslng a 250 million mark Eurobond late next month, which would be the second largest mark Eruobond ever, bond market sources said. The bond is expected to be managed by a consortium of the leading four German banks, with Dresdner Bank as likelyReuter - 92 words
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Article67 1977-02-28 7 Reuter LONDON, Sun. Sparkassen SDS, the Copenhagen savings bank plans to raise US$25 million through a Eurobond note Issue, Joint lead manager Chase Manhattan said. The issue is expected to carry an B'/« per cent coupon with maturity In 1982. Proceeds will be used for the general capital purposesReuter - 67 words
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Article108 1977-02-28 7 Reuter FRANKFURT, Sun. The major German banks have set a provisional total of 900 million marks of the new mark Eurobond issues to be made between now and the end of March, bond market sources said. This compared with only 360 million marks of bonds broughtReuter - 108 words
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Article91 1977-02-28 7 Reuter BOGOTA, Sun. A group of foreign banks has granted a $15 million loan to Colombia's state-owned Alcalis Chemical the presidential press office announced. The loan, guaranteed by the state, was underwritten by American Express International Banking, Amex Bank Banco Cafetero of Panama, Banco Gotoa of Panama, BankReuter - 91 words
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Page 7 Advertisements
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Advertisement353 1977-02-28 7 Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the pasar malam! Because Penguin books are rather jff: special. They are mind-stimulating, deeply researched, WL entertaining in a wholesome way, highly educational y- il /JI lif quite unlike353 words
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COMMODITY REPORTS AND PRICES
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Article229 1977-02-28 8 LONDON, Sun. Terminal rubber eased In late trading on Friday mainly on sentiment, dealers said, to close slightly easier around the day's lows at 0.60 pence per kilo down from Thursday night (Jly/ Sep 1077 at 60.05 pence) to unchanged. Turnover totalled 69 lots of 15 tonnes and229 words
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Article56 1977-02-28 8 Feb 21 Feb 22 Feb 23 Feb 24 Feb 25 Feb 26 Tin: Tonnes: t Rubber (S): t Rubber (M): SI,561.00 125 203.50 207.25 SI,558.00 160 203.00 207.50 SI,548 00 187 202 50 206 50 S1.560.12V, 159 199 00 203 00 SI,540 12V, 184 200.25 204.50 SI.546.00 18056 words
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Article136 1977-02-28 8 THE Straits tin price in Penang on Saturday was up $5.87', to $1,546 on an official offering down 4 tonnes to 180 tonnes. In LONDON on Friday, tin rose by about £17 for Cash but fell by about £2 for Three Months in both conThe market rallied on136 words
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Article119 1977-02-28 8 The following Palm OH prices were quoted In London on Thursday Friday's prices were not available The prices are elf Rotterdam and are quoted In US dollar per ton unless otherwise stated Thursday Prev. Malaysia 5% (fa bulk 512 sir Apl. May 515 sir Sumatra 5% 520* Feb119 words
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Article280 1977-02-28 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICI'L ON SATURDAY. Coconut OU Bulk $87' t sellers, old drum sellers, new drum $97v, sellers. Copra Mixed (loose) UK/Cont. $56 buyers. Pepper Muntok ASTA white f ob 100% NLW $355 sellers. Sarawak white f ob 96% NLW $335 sellers,280 words
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Article405 1977-02-28 8 Source: Swiss Bank Corp. Zurich IN the Singapore gold market on Saturday, the kllobar was quoted at a nominal 5511,245. The loco London gold stayed at US$l4l.OO/141.40 in line with the overnight closing quotations on the US gold futures market. The undertone was firm, buoyed by the higher trendsSource: Swiss Bank Corp. Zurich - 405 words
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Article277 1977-02-28 8 LONDON, Sun. Copper wirebars rose on the day by fully £2 for Cash and £2.50 for Three Months on Friday. The market was quiet In early ring dealings, but values subsequently steadied in line with New York movements and Three Months finished at £872 per tonne. On the kerb,277 words
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Article272 1977-02-28 8 LONDON, Sun. Sliver was unchanged to 0.5 pence down on Friday. The market partly recovered declines on modest covering attracted by the lower levels and the general trend. Th*** Months traded up to 278.4 pence In the ring and to 278.9 pence on the kerb. Sales were 37 lots.272 words
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Article131 1977-02-28 8 LONDON. Sun. Futures held steady throughout Friday afternoon on end-week book squaring to close £1.40 to £0.45 up. Sales were 3311 lots. Near Mch expired at the London dally raws price level of £121 per tonne and there was still a buyer over for two lots at this price,131 words
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Article142 1977-02-28 8 VEF!S&S% the 35 ssa pSfJSLiM ASS tonnes of rice on a comtrade'sources trade sources saio. The grain consisted of AAA One Super and 55 per cent Special mixture, in equal quantities. The grain would be shipped In March/ Apl and the prices were believed to be US$l7O for AAA142 words
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678 1977-02-28 8 AGAINST the general background of active trading overseas, Singapore's produce market last week ruled dull throughout. But prices held from steady to firm in unison with levels prevailing In foreign markets. Orders kept pouring in from Europe, America and London throughout the week.678 words
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Article49 1977-02-28 8 LONDON, Sun. Lead finished with losses of £1.25 for Cash and t.'0.50 for Three Months on Friday. Values worked higher on preweekend short-covering which took Three Months to £426.50 In the ring and up to £429 on the late kerb. Ring sales were light, however, at 950 tonnes.49 words
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Article255 1977-02-28 8 LONDON. Sun. Coffee futures closed Irregular on Friday with near positions tending easier while middle and distant positions were underpinned by late dealer buying. At end call, values were £125 to £179 per tonne above Thursday night's close. May, having traded earlier at a record £4,000 per tonne, closed255 words
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Article106 1977-02-28 8 CHICAGO, Sun. Wheat futures closed on Friday with losses of 3V« to 4K cents a bushel. Easiness In soybean futures and the forecasts of precipitation In winter wheat areas over the weekend prompted selling. Corn futures extended earlier fractional losses late In the session to finish at the low106 words
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Article105 1977-02-28 8 CHICAGO, Sun. Soybean futures closed 3*« to 4'/« cents a bushel lower on Friday. The losses came on profittaking following the price advance last week and liquidation in the March ahead of first notice day on Monday. Spreading was active In the pit, with commercials going in both directions.105 words
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Article49 1977-02-28 8 LONDON, Sun. Zinc closed on Friday, with losses of £2 for Cash and £3.25 for Three Months, although prices moved In line with the general trend In other metals. Late covering lifted the Three Months position to £439 on the kerb. Sales of 5,300 tonnes were mainly carries.49 words
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MONEY AND EXCHANGES
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Article147 1977-02-28 8 THE US dollar opened last week at the $2.4575—85 level In the Singapore forex market following news that US consumer price use doubled In January and fourth quarter gross national product was revised down. The unit remained static at a $2.4570—80 level as most dealers were still In the147 words
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Article283 1977-02-28 8 Asian rates Source: Astley Pearce FIXED dates were quiet at the beginning of last week, with a New York holiday last Monday. But on heavy rollover, rates firmed towards end of the week with Three Months aDpreclatlng 1/8 3/16 per cent and Sixes by 1/8 per cent. Federal figures showSource: Astley & Pearce - 283 words
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Article314 1977-02-28 8 INTERBANK overnight rates rose sharply In the period Immediately before and after Chinese New Year, with rates ranging up to 12 14 per cent being paid. However, term rates remained calm with higher rates quoted but very little trading In CD's and Bank Bills. CD rates peaked before314 words
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Article30 1977-02-28 8 DAYto-day funds wre steady trading around the four per cent level close slightly easier 3 3/4 per cent last Friday, with most activities seen In the One Month.30 words
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Article307 1977-02-28 8 LONDON, Sun. A Canadian banker's view on Friday that the Canadian dollar will dedlne to 90 US cents this year triggered heavy selling of the currency, forcing It down to 95.60/62 US cents at one stage against the overnight 96.12/14, dealers said. Bank of Canada Intervention around the lower307 words
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Article431 1977-02-28 8 Source: Swiss Bank Corp. Zurich ZURICH, Sun. The dollar showed fluctuations in both directions last week. It has been supported by expectations of rising US shortterm Interest rates. On the other hand, It has been depressed by the decline of durable goods orders by 0.4 per cent In January.Source: Swiss Bank Corp. Zurich - 431 words
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Article58 1977-02-28 8 Minimum lending rates (in ACBC 6*4 Algemene Bank 6* Bangkok Bank .7* Bank of America 6*« Bank of China 7 Bank of Tokyo 6*fc Bank Negara First Chicago 6*4 Citibank 6*« HSBC 7 Indosuez 6* Malayan Banking 6*4 Mitsui Bank 6*4 OCBC 6*4 OUB 6V» Chartered Bank 6*. Chase Manhattan58 words
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Article209 1977-02-28 8 NEW YORK. Sun. The Canadian dollar on Friday, fell to Its lowest value for almost seven years after a session of sustained heavy selling, dealers said. Most of the sales came from Canada, although Canadian market turnover was below the record set last November. However, sizeable amounts came209 words
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Article103 1977-02-28 8 Euro rates LONDON, Sun. Slack conditions were reported in the Eurodollar deposit market on Friday where rates closed little changed from opening steady levels, dealers said. Funds tended to come in the middle of quoted ranges in Three and Six Months which made for a softer undertone In places. Day103 words
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Article33 1977-02-28 8 FRANKFURT exchanges closing quotes on Feb 25 US 2.3940/50 Can 2.3010/30 UK 4 09/10 Neth 95.90/96.00 Swltz 94.12/18 Italy 2.71/72 France 48.02/06 Japan 0.8490/8500 Belg com 6.515/525 Belg fin 6.51/53 Norw 45.35/4033 words
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Article43 1977-02-28 8 FOR the week ended Friday Feb 25, the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND: V» to 1 per cent. GENERAL FUNDS: to 4 per cent. Movements of funds totalled $378 million.43 words
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Page 8 Advertisements
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Advertisement166 1977-02-28 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) Surface mail Zone Singapore Malaysia. Brunei Overseas Second class airmail (Individually wrapped and mailed) Zone Brunei, Sarawak. Sabah Australasia/Pacific (excluding Hawaii)166 words
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Article, Illustration678 1977-02-28 9 NEIL WILSON - SINKING THOSE OLD COLOURED THEORIES By NEIL WILSON The Observer LAST year more than 600 swimmers competed In the Olympic Games In Montreal. They represented countries from every continent of the world. But among them all there was not one black. The total absence of black swimmers had little toThe Observer - 678 words
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766 1977-02-28 9 LONDON, Sun. Second r Division Southampton, last a season's surprise winners of g the English soccer Cup, bat- tied to a 2-2 draw with Manchester United in the fifth round of the knockout tour- I nament yesterday and Just missed a repeat of their 1766 words
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Article, Illustration882 1977-02-28 9 TERRY WILLIAMS - ENTER TWO DARK STRANGERS By TERRY WILLIAMS Reuter BRIDGETOWN, Sun Colin Croft wanted to be a wicketkeeper until the day the fast bowler didn't turn up to play for his school side in Guyana. "When we saw he wasn't coming, I just picked up the ball and bowled. I gotReuter - 882 words
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Article364 1977-02-28 9 AP Aston Villa 3 Port Vale 0(10): Chris Nlcholl scored In the 18th minute, but Villa had to struggle against Third Division Port Vale and could not be of victory until 12 minutes from the end. Then Brian Little added a second goal, and John Deehan made ItAP - 364 words
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Article80 1977-02-28 9 UPI RIO DE JANEIRO, Sun. Osvaldo Brandao, head coach of the Brazilian national soccer team, yesterday handed In his resignation. Brandao stepped down from the nation's most demanding coaching Job on his arrival from Bogota, where Brazil last Sunday played a disappointing scoreless tie against Colombia inUPI - 80 words
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295 1977-02-28 9 THE Ling brothers Alex and Philip combined well to beat Philip Llm and S.H. Wan two and one in the final of the International Cup competition at New Course yesterday. They had earlier beaten Goh Poh Soon and Stephen Ang four and three295 words
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1259 1977-02-28 9 HUGH McILVANNEY - HUGH McILVANNEY on ona man's fight to bring small hall boxing into ths opsn. HUGH McILVANNEY The Observer LONDON. Sun. Anyone who means to know something about Welsh or indeed British boxing, as It Is now and was In the past, can hardlyThe Observer - 1,259 words
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Article127 1977-02-28 9 Reuter TEHERAN. Sun. Hungary and the Soviet Union, each with two victories from two matches, head the group standings In the Crown Prince International Youth Soccer Cup being played in Iran. The group matches will be completed today with the two top teams meeting inReuter - 127 words
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Advertisement191 1977-02-28 9 MONTHLY ECONOMIC REPORTS With monthly politicol supplement for UP-TO-DATE HAND REFER! 4CE i ASM RESEARCH BULLETIN This unique publication offers businessmen eoch month a comprehensive guide to the latest developments that have taken ploce in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin191 words
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Article, Illustration586 1977-02-28 10 THE Defence Minister, Dr. Goh Keng Swee, yesterday revealed that he has not met one senior commander or staff officer In the SAF who has even a smattering knowledge of communism. To rectify this serious gap in the knowledge of SAF586 words
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244 1977-02-28 10 THE cost of treating water and making It potable has risen nearly three times In the past 26 years and would very likely Increase by one to three cents per cubic metre this year, the Prime Minister, Mr. Lee Kuan Yew,244 words
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Article49 1977-02-28 10 TWENTY-THREE Italian manufacturers of leather goods will arrive In Singapore on Sunday for a threeday visit. They will hold an exhibition of their goods for representatives from local department stores, boutiques and firms. All are members of the Italian Association of Manufacturers of Leathergoods and Related Products.49 words
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1099 1977-02-28 10 SINGAPORE'S payments surplus position In 1976 though somewhat lower than In 1975 might have been considerably worse If not for high capital Inflows In the non-monetary sector. This was revealed In the Economic Survey of Singapore by the Ministry of Finance. As it was.1,099 words
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608 1977-02-28 10 SINGAPORE'S external trade has regained Its growth momentum following a one-year decline In 1975. External trade, as a result of the world economic recovery, grew by 21 per cent to $38,670 million In 1976. Growth was recorded both In terms of volume and608 words
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Article524 1977-02-28 10 ARRIVALS Service Local Operator Number Time From OA OA472 0200 SYD/MEL JAL JL712 1000 HLP SIA SQ211 1010 HLP GIA GA980 1030 HLP CPA B707 1030 HLP THAI TG423 1035 BKK GIA GA908 1100 MES PAL PR501 1115 MNL SAS SK097 1140 CPH/DEL/ BKK BKK KLM KL811524 words
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153 1977-02-28 10 THE Singapore Institute of Management will be conducting two courses in March Company Law beginning on March 12 and Work Study for Improving Office Productivity from March 9. The first for directors, executives, company secretaries and businessmen has as Its objective the understanding153 words
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Article47 1977-02-28 10 PETITIONS were filed In the High Court to wind up two companies In the food and catering Industry. The first, against Four Star Catering was filed by Malayan Refrigerating Co and the second by Yap Hock Llm against the Car Park Cabaret and Restaurant.47 words
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246 1977-02-28 10 THE economies of the major industrialised countries slowed down considerably in the latter half of last year. The seven major OECD (Organisation of Economic Cooperation and Development) countries recorded an average growth rate of only 3.5 per cent in the second half of246 words
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497 1977-02-28 10 THE efforts of the Monetary Authority of Singapore (MAS) and a few local financial Institutions to stimulate an active secondary bond market appears to have had some success In 1976. According to the 1976 Economic Survey, secondary trading In government registered stock497 words
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Advertisement92 1977-02-28 10 ANNOUNCEMENT We wish to announce that SEASPEED FERRIES GROUP has appointed KIM SHIPPING TRADING PTE. LTD. as their General Agents for Singapore for SEASPEED RORO SERVICES to Japan, the Arabian Gulf, Red Sea, Europe and the United States. 4 RONALD CATTRELL OPERATIONS DIRECTOR MORLAND NAVIGATION LONDON LTD SEASPEED GROUP Kim92 words
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Advertisement202 1977-02-28 10 4 Departing every Tuesday &Thursday Other PIA Destinations: Abu Dhabi Athens Bangkok Bahrain Baghdad Bombay* Colombo Chitral Dubai Doha Dhahran Damascus Dacca Delhi D.I. Khan Frankfurt Gilgit Gwador Hyderabad Istanbul Jeddah Jiwani* Kuala Lumpur* Karachi Kuwait Lahore Lyallpur Manila Muscat Multan Moenjodaro Nairobi New York Nawabshah Peking Paris Peshawar Panjgut202 words
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