The Business Times, 15 August 1977
1977-08-15
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The Business Times
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Title Section10 1977-08-15 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, AUGUST 15, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article59 1977-08-15 1 AFP CANBERRA, Sun. Australian aid worth A 56.5 million (5517.9 million) for an eastern Burma water project was announced today by the Australian Foreign Minister, Mr Andrew Peacock. The aid over the next five years Is for the Mobye irrigation project In Kayah state to provide waterAFP - 59 words
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Article63 1977-08-15 1 AFP CAIRO, Sun. The two Yemens, and in Africa, Mauritania and Somalia, have agreed to Join the Arab Common Market, the Middle East News Agency reported here tonight. Council of Arab Economic Unity SecretaryGeneral Mr. Abdel Sakban, said that Kuwait and the United Arab Emirates had been contactedAFP - 63 words
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Article45 1977-08-15 1 Reuter MANILA, Sun. At least 10 million pesos (553.4 million) worth of property was destroyed and one person died of shock when fire swept through the Provincial Capital Building in Oriental Mindoro province, south of here, on Friday, military sources said today. Reuter.Reuter - 45 words
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Article68 1977-08-15 1 Reuter MANILA, Sun. Japan and the Philippines have designated discussion groups to explore areas of cooperation that will improve trade between them, the Department of Trade said today. Trade Secretary Troadlo Qulazon Jr. said this set-up was in line with Japan's commitments to improve the Philippine's trade postureReuter - 68 words
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Article78 1977-08-15 1 Divorce Rhodesian style Reuter SALISBURY, Sun. Wealthy Rhodesian couples are getting divorced so they can emigrate with more of their assets. Loopholes in the law allow divorced people to take much more money or goods out of the country. They can also reap higher income from assets left behind. AReuter - 78 words
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Article53 1977-08-15 1 Reuter KUALA LUMPUR, Sun. The Philippines will send a trade mission to Malaysia late next month to explore prospects of increasing two-way trade, Phlllippines Trade Commissioner, Mr. Julio Bacareza, said here today. Mr Bacareza said the 10-day mission would hold talks with Malaysian officials and businessmen here, PenangReuter - 53 words
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Article64 1977-08-15 1 AFP TEL AVIV, Sun. American press reports that Israel has been told it will not receive from the United States either the number of F-16 fighters it has asked for or authorisation to build F-16 parts under licence were confirmed here today by Israeli sources. TheAFP - 64 words
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Article75 1977-08-15 1 AFP PENANG, Sun. Sarawak Chief Minister, Datuk Abdul Rahman Yakub, said today he would see the Prime Minister, Datuk Hussein Onn, to "protest" against the changing of the site for the proposed Asean urea project from Bintulu in the Fourth Division to Kuantan in Pahang. He saidAFP - 75 words
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Article51 1977-08-15 1 Reuter MOSCOW, Sun. Soviet explorers, using a Canadian-built Bathyscape, have for the first time descended to the floor of Siberia's Lake Baikal, the newspaper Komsomolskaya Pravda reported today. They found fish, but no water plants, where their craft came to rest on the lake bottom 1,410 metres down.Reuter - 51 words
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Article111 1977-08-15 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 1977. Company Turnover Prices High Low 000 Aug 12 1977111 words
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LOCAL STOCK INDICES
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Article70 1977-08-15 1 Aug 8 A* 9 Aug 19 Aug 11 Aug 12 BT Index: 408.10 closed 401.25 402.35 406.04 Industrials: 264.75 closed 285.80 265.70 265 48 Finance: 448.77 closed 448.58 446.20 446.58 Hotels: 188.97 closed 188.93 187.04 167.07 Properties: Ml. 28 closed 170.78 170.18 171.19 Tins: 115.83 closed 119.19 119.88 119.8970 words
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Article80 1977-08-15 1 Au«8 Angt AuflO Aug 11 Aaf 12 BT Index: 407.74 409.84 410.31 418.57 420.99 Indus trials: 293.97 294.82 296.40 294.90 294.88 Finance: 384.77 384.48 383.31 384.47 385.29 r. Hotels: 173.80 173.98 173.98 174.03 173.80 Properties: 198.39 158.70 157.84 186.83 197.13 Tins: 124.20 127.44 130.12 130.03 129.98 ■f (rubbers: 330.7180 words
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387 1977-08-15 1 AP MUTUAL dependence between Japan and Asean will continue to Increase under existing conditions, Japanese Prime Minister Takeo Fukuda, who Is here on a two-day official visit, said yesterday. Japan is determined to extend active support to Asean inter-regional cooperation for the sake ofAP - 387 words
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Article, Illustration541 1977-08-15 1 COLIN CHEE - MINISTER ADVISES LOCAL FIRMS Br COLIN CHEE SINGAPORE'S equipment manufacturers, engineering and construction companies and shipyards were urged last night by Finance Minister Mr. Hon Sul Sen to gear themselves for construction of the Republic's petrochemical complex. Speaking at an inauguration cocktail party for541 words
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Article102 1977-08-15 1 Reuter HONGKONG, Sun. A new petro-chemlcal complex in Canton will start its test run soon, a local leftist newspaper reported today. The Chinese language Ta Kung Pao said in a report from Canton that the complex received its first intake of crude oil from a tanker lastReuter - 102 words
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904 1977-08-15 1 ONE of the oldest manufacturing industries in Singapore, the paper mills, face limited scope for expansion after weathering the tough recessionary conditions of recent years. Through heavy losses suffered during the past couple of years, paper mill owners here have learned the folly of904 words
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Article352 1977-08-15 1 UPI MADRID, Sun. A hotel strike spread today from northern Spain to packed Costa del Sol resorts in the south, forcing tens of thousands of tourists to clean their own rooms and live on canned food and cold cuts. The strike was called by left wing labourUPI - 352 words
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288 1977-08-15 1 Reuter CANBERRA, Sun. Prime Minister Malcolm Fraser ■aid today Australian commitment to the progress of Asean was a basic part of his government's foreign policy. Mr. Fraser said to demonstrate this, Australia was increasing aid to Asean by A|9o million (***** million) to $250Reuter - 288 words
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522 1977-08-15 1 SINGAPORE Airlines has emerged for the second time running as the Asian and Pacific region's top airline In a survey by the regional office of the US based Internatlonal Research Associates. After SIA Is Swissair, and in third place Is the German airline,522 words
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Article86 1977-08-15 1 UPI LONDON, Sun. Secret papers have been stolen from the South African embassy in Bonn in the second such theft In less than two years. "A large number of papers, some of them apparently from the defence attache's office, are now with the Lusaka-based African National Congress of SouthUPI - 86 words
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Page 1 Advertisements
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Advertisement57 1977-08-15 1 Wryfbong Wavfoong Mortgage you need and Finance (Singapore) Limited ll lllOSl Shaw House. Ground Floor. 354 Orchard Road, Singapore 9. Tel: *****7. I Lei»ure/TV 4 Local Co News/ Radio/ Croaaworda —P2 Share Information —Pf Leiaurc —PS Overaeaa Markota —P7 Feature* P4 Coaunoditiee P8 International Co S porta PI Newa/ Overaeaa57 words
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Advertisement100 1977-08-15 1 You want to put your money in the bank. And it burns you up to have to stand in line for the privilege of doing it. Chase understands. That's why we have a Quick Deposit Box. Just put the check with the deposit slip in our envelope and drop it100 words
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Advertisement165 1977-08-15 1 American Express Bank We work hard to make your money work for you American Express International Banking Corporation S*mg K*an House 4 Sheoton *Va v Singapore 1 Tel 220 2311 Tete« RS ***** Cable AMEXBANK JAL FLIGHT 712: THE TOKYO EXPRESS NEW YORK VANCOUVER 'WSAN 1 FRANCISCO kUOS 1 ANGELES165 words
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REVIEWS
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Article729 1977-08-15 2 THERE can be no doubt now that the Japanese leader, Mr Takeo Fukuda, was completely sincere In his Kuala Lumpur pledges of support and closer association with Asean. In his barnstorming tour of the region after the Summit meeting, both his personal popularity and the growing729 words
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Article, Illustration1323 1977-08-15 2 HAROLD SCHONBERG - By HAROLD SCHONBERG NYT NEW YORK: It Is the dead of summer, and there is little to write about. So let me tell you how I amused myself the other night. It was hot, and I did not feel like working, and my eyeNYT - 1,323 words
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699 1977-08-15 2 HANS FANTEL - By HANS FANTEL NYT NEW YORK: One trend In current audio design Is the extension of the frequency range covered by loudspeakers Into realms formerly regarded the exclusive domain of the dog whistle. Time was not so long ago, when a loudspeaker was regardedNYT - 699 words
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Article739 1977-08-15 2 CKT - By CKT AN INTRACO manager took 56 seconds off supervising Jute sales to Abu Dhabi to ring me about my censure of Radio Singapore's FM stereo service. "I read It," he said. "The censure, that Is. I never listen to the thing myself, but that's because I739 words
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Article372 1977-08-15 3 CHAN HOK-KEUNG - By CHAN HOK-KEUNG Reuter HONGKONG: The second Festival of Asian Arts here Is certain to make a hefty loss and the organisers are quite happy about it. For the Urban Council in this British colony, which has attracted artists from nine countries for the cultural extravaganzaReuter - 372 words
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Article, Illustration1415 1977-08-15 3 GAIL GREGG - By GAIL GREGG UPI HATFIELD, (England): Barbara Cart land comes at you in a flurry of false eyelashes and bright silk, her quick tongue already forming the barrage of words with which she will lecture you about love. Her lecture may sound more likeUPI - 1,415 words
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Article, Illustration1067 1977-08-15 3 FLORA LEWIS - BY FLORA LEWIS NYT PARIS: For Mikhail Baryshnikov, the odd thing about discovering himself to be a great American ballet star In Europe isn't the fact but the question. "I'm a dancer," he said. "Dancers aren't American or British or French, Just good or bad. I'm aNYT - 1,067 words
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Article865 1977-08-15 3 MICHAEL THOMPSON- NOEL - By MICHAEL THOMPSON- NOEL FT LONDON: A growing number of London's art market experts say the time has now come to build a metaphorical mesh around Britain's coastline to halt the steady seepage abroad of great art works. Britain's recent economic upheavals and punishing personal taxFT - 865 words
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Article, Illustration743 1977-08-15 3 PHILIP MONBIOT - By PHILIP MONBIOT I MONDAY As I wake, I remember that this Is Day One of my One Man's Week. Fancy me t writing ltt In recent weeks, i you have been able to read about such eminences as f lan Batey, Oeorge i Thompson and Oeorge743 words
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Page 2 Advertisements
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Advertisement25 1977-08-15 2 w mjt M .4' riflh L A L. THE LEADING Tiia^Vi^: TAILORS STORE OUTFITTERS HIGH ST CENTRE'OCEAN BUILDING SUPREME HOUSE GOODWOOD, HILTON, RAFFLES HOTELS*COLD STORAGE25 words
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Page 2 Miscellaneous
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Miscellaneous65 1977-08-15 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Aug 14 at Singapore airport. Maximum Temperature 31.3° C Associated Humidity 68 Minimum Temperature 23.7° C Associated Humidity 100 Hours of Sunshine 6.85 Rainfall in Millimetres Nil Total Rainfall for the Month 68.2 Total Rainy Days for the65 words
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Miscellaneous579 1977-08-15 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 1 Saw what one shouldn't? (5) 6 Conscript into the Army? (5) 9 In a way, It makes me show love (7) j 10 Flying sailor? (5) 11 Study a role on the way (5) 12 Paper boys (5) 13 Good water for bad sailors579 words
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Page 3 Advertisements
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Advertisement47 1977-08-15 3 W 5. Prime Rib Eye A fine cut from the eye of the prime rib. Charcoaled to your taste. GRILL "tbu don't knew how good it is until you eat someplace else 6th Floor, Front Block Orchard Towers, Orchard Road, Singapore 9. Tel: *****52/3 Reservations Tel: *****5047 words
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Article, Illustration1138 1977-08-15 4 NORRIS WILLATT - Swiss bankers were hurt by the blow to their ultrarespectable image delivered by the Swiss Credit Bank scandal. To help build it up again, they have worked out a strict code about the kind of money they will handle in future, and holders ofFT - 1,138 words
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Article860 1977-08-15 4 CHRISTOPHER WREN - By CHRISTOPHER WREN NYT BUKHARA, (USSR): Somewhere beyond the dusty labyrinth of scorched alleys with heroic revolutionary names like Kirov, Chapavev or Kommunlst Street, lies what remains of Bukhara's legendary bazaar. So relentless Is the summer sun that pedestrians jostle each other to embrace theNYT - 860 words
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Article, Illustration742 1977-08-15 4 OFNS COLOMBO: Vlpula's art Is very versatile. You can wear it, eat off it, sit on it, sleep In it, carry your lunch In it, mop your brow with It, or, if you want to be obvious, you can even frame it andOFNS - 742 words
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Article, Illustration1357 1977-08-15 4 NICHOLAS HORROCK - By NICHOLAS HORROCK NYT WASHINGTON: The Comptroller of the Currency has widened his Investigation of Bert Lance's financial dealings to include loans that may have Indirectly benefited him and Is searching bank records for loans that may have been extended to about 20 persons. Including Mrs. Lance,NYT - 1,357 words
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Page 4 Advertisements
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Advertisement136 1977-08-15 4 4 \S S V ;.;x althb AND PENANG TOO! Rasa Sayang a haven of fun in the sun. You can feel the pleasant mingling of informality and hospitality, the exuberance of endless recreational amenities: sailing, swimming, water-skiing, tennis or golf; all the elegance of a well-appointed accommodation, and savour a136 words
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670 1977-08-15 5 NYT NEW YORK, Sun. The proposed acquisition of the Book-Of-The-Month Club Dy Time Inc. a significant but not surprising development Is being noted with more than passing interest by the creators who write the books In the first place. The Authors Guild, the 5,000-memberNYT - 670 words
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Briefly
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Article57 1977-08-15 5 Reuter LONDON, Sun. The US$75 million Midland International Financial Services 8*« per cent 1992 Eurobond was priced at 100 l /t. lead manager Credit Suisse White Weld said. Secondary market dealings will commence tomorrow. The issue, guaranteed by parent company Midland Bank, was earlier raised to $75 millionReuter - 57 words
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Article97 1977-08-15 5 Reuter SAN JUAN, Sun. Commonwealth Oil Refining said shareholders at Its annual meeting approved the granting of an option to Ashland Oil to purchase US$5O million of new Corco preferred stock convertible into about 46 per cent of the company's common stock at US$3 per share. Ashland hasReuter - 97 words
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Article45 1977-08-15 5 Reuter LONDON, Sun. Thorn Electrical Industries said it will pay a third interim dividend of 0.067p for the year ended May 31, 1977, due to the reduction in advance corporation tax. The dividend will be paid with the second interim dividend on Oct 7.Reuter - 45 words
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Article112 1977-08-15 5 Reuter NEW YORK. Sun. Babcock and Wilcox said it will not recommend to its shareholders a tender offer proposal by J. Ray McDermott for about 35 per cent of the Babcock and Wilcox common stock. Babcock and Wilcox said in a statement the proposal would haveReuter - 112 words
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Article105 1977-08-15 5 Reuter FRANKFURT, Sun. The Deutsche Bundesbahn is raising a 800 million mark six per cent 10-year loan priced at 99.50 per cent to yield 6.07 per cent, a Bundesbank spokesman said following today's meeting here of the federal loan consortium. He said the new rail Issue goesReuter - 105 words
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1202 1977-08-15 5 NYT NEW YORK, Sun. The news about interest rates is that they have made very little news of late. Even now, in the third year of recovery and economic expansion, short-term rates are only beginning to be nudged upward, while longterm rates remainNYT - 1,202 words
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Article137 1977-08-15 5 Reuter TOKYO, Sun. Sanyo Electric saia it expects a record consolidated Income of 17 billion yen in the year ending Nov. 30 on record sales of 630 billion. The previous record was 16.39 billion yen Income and 545.64 billion in sales last year. Exports of electricReuter - 137 words
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Article99 1977-08-15 5 Reuter NEW YORK, Sun. American Standard said it plans to offer through a wholly owned UK subsidiary $34 million for all the shares of Clayton Dewandre (Holdings), a British manufacturer of power braking systems and associated engineering products for commercial motor vehicles. The management of the BritishReuter - 99 words
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Article80 1977-08-15 5 LONDON, Sun. British Petroleum said it plans to start development drilling in the North Sea Buchan Field in the first week of September. An 80 tonne steel template is in position on the sea bed ready for the rig deep sea saga to start drilling. BP80 words
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Article36 1977-08-15 5 Reuter FRANKFURT. Sun. The 50 million mark 12-year Eurobond for Pyrhn Autobahn of Graz will probably carry a 6.25 per cent coupon, bond dealers said. Final terms are due on Aug 24. they added.Reuter - 36 words
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OVERSEAS
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598 1977-08-15 5 SENATORS BID TO END DISCRIMINATION NYT WASHINGTON, Sun. Less than a month before President Carter Is due to unveil his tax reform plan, two influential Senators, one the head of the powerful tax-writing finance committee, have called on the President to liberalise theNYT - 598 words
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186 1977-08-15 5 UPI TEHERAN, Sun. Iran's sixth five-year plan, set to start in 1978. will have to be revised by Prime Minister Jamshld Amouzegar's new government to make sure that protects materialise on schedule, government sources said over the weekend. The ambitious plan's outlines aroused controversyUPI - 186 words
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470 1977-08-15 5 NYT ATLANTA, Sun. Negotiations between the directors of the National Bank of Georgia and Mr. David Smith, the Atlanta entrepreneur who offered to buy Budget Director Bert Lance's shares in the bank, have come to a standstill and are likely to collapse, sourcesNYT - 470 words
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151 1977-08-15 5 UPI NEW DELHI, Sun. The government yesterday appointed a 11 member committee headed by a veteran journalist to study the question of converting radio and television Into autonomous corporations. Mr. B.G. Verghese, former editor of the Hindustan Times and winner of Magsaysay award forUPI - 151 words
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298 1977-08-15 5 OECD to discuss JapanUS steel dispute AFP TOKYO, Sun. A special meeting of the Organisation for Economic Cooperation and Development (OECD) will discuss the Japan-US steel dispute In Paris on Sept. 29, it was reported here yesterday. An official of the Ministry of International Trade and Industry (Mlti), Haohlro Amaya,AFP - 298 words
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Article83 1977-08-15 5 AFP TEHERAN, Sun. Pollution in the Caspian Sea has reportedly caused a 42 per cent drop in Iranian caviar exports from March to June this year. Only 60 tonnes of the sturgeon eggs were exported during this period, compared to 104 tonnes last year. EarningsAFP - 83 words
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Page 5 Advertisements
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Advertisement156 1977-08-15 5 THE GOOD LIFE in your own private estate Never before has such a good life been available to you. Own a Ridgewood home choose from spacious townhouses or tower flats and discover all the advantages living at Ridgewood can give you! A 6 hectare garden estate, completely enclosed, with security156 words
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COMPANY NEWS
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673 1977-08-15 6 AFTER TWO years of declining profits. United Plantations is clearly heading for Its best year ever. On the strength of bumper prices for Its increasing crops pre-tax profit nearly trebled over the six months to June 30, 1977 to M 514.95 million from $5.21673 words
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Article426 1977-08-15 6 THE Malayan Banking shares left with the underwriters after the recent one-for-two rights issue appear to have been largely or entirely placed with shareholders. Although no figures were revealed, it is believed that some six million of the 30 million shares Issued at S3 were not426 words
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Article186 1977-08-15 6 THE Kuala Lumpur Stock Exchange has taken Sime Darby Holdings to task for not revealing the sale of its four million Consolidated Plantation warrants to certain UK stockbrokers. Drawing Sime's attention to an article in Business Times on Aug 6, the exchange told the company "to186 words
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COMPANY MEETINGS
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Article14 1977-08-15 6 Aug. 30, 11 a.m. at No. 93-B, Jalan Ipoh, Kuala Lumpur.14 words
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Article23 1977-08-15 6 Sept. 29, 11 a.m. at the Negara Room, Second Floor, Lower Lobby, Kuala Lumpur Hilton, Jalan Sultan Ismail, Kuala Lumpur.23 words
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Article15 1977-08-15 6 Aug 25, 12 noon, Bangunan MIDF. 117 Jalan Ampang, Kuala Lumpur.15 words
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Article16 1977-08-15 6 Aug 24, 12 noon, Registered Office, 45/47 Ramayana Building, Robinson Road, Singapore 1.16 words
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Article23 1977-08-15 6 THE following company meetings are due: Aug 22, 12 noon, Registered Office, No 45 Spot'.lswoode Park Road. Singapore 2.23 words
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Article273 1977-08-15 6 Current Ex Date Total for Total for payment Date payable the year previous year B. Sembawang 20% July 28 Aug IS 20% 20% Riverview Rubber 6%I July 27 Aug 15 11%I 16%a Sanyo Industries 12%TE July 20 Aug 16 12%TE 12%TE Singapore Glass 10% July 29 Aug 19273 words
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Article2512 1977-08-15 6 1*77 Hi«k Uw CMH*7 Uit Sato Weak +arGt's Dfe Dfe C-YT Gt'i YH Nat P/K Val <*•••) W Hl«k Mk Law SECTION ONE INDUSTRIALS 154 204 96 230 88* 198* 169 223 404 171 136 172 58 212 57* 155 152 182 350 145 Acma2,512 words
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Page 6 Advertisements
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Advertisement176 1977-08-15 6 Confront Singapore's decision makers in Business Times Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who For only $3.50 per single column centimetre176 words
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INTERNATIONAL STOCK MARKETS
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Article458 1977-08-15 7 TOKYO: The stock exchange president's warning against unnatural price rises had little effect, with the average rising In active trading on Saturday, dealers said. The Dow-Jones average gained 15.24 to close at 5,176.50 with volume 300 million shares. The Tokyo Stock Exchange Index closed at 380.37, up 0.82. Export-oriented458 words
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Article309 1977-08-15 7 AMSTERDAM: The market closed generally lower on Friday following Wall Street's overnight decline and due to reservations ahead of first half year figures to be announced next week by some major companies. bourse sources said. Akao and Hoogovens led Dutch internationals lower. Elsewhere losses were led by Heineken and309 words
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Article167 1977-08-15 7 BRUSSELS: The market was slightly firmer on Friday, though trading was almost non-exlstant ahead of the long weekend, dealers said. Local issues to rise Included Sidro, Cockerill, Aaturionne, Wagons-Liu, Union Minion and FN, following news of the success of Its bid for Browning. Vieille Montagne, Solvay and GB-Inno-BM declined.167 words
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Article283 1977-08-15 7 FRANKFURT: Shares closed generally firm with Institutional investors increasing their share purchases on Friday, bourse sources said. In autos, BMW rose six marks and VW 2.20 marks. In engineerings. Demag gained 5.80, and KHD 4.20 marks while Manne»mann gained over five marks. In electrlcals, BBC lost 2.30 marks after283 words
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Article75 1977-08-15 7 MILAN: The market closed generally lower In quiet trading on Friday although a few shares partially remained earlier losses towards the close, dealers said. Industrial leaders. Including Fiat, both Pirellis, Montediaon, Anic, Snia Viscosa and Olivetti Previleged, all lost ground, while Olivetti ordinary was steady. Financials and Insurances were75 words
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Article360 1977-08-15 7 PARIS: The market was stable on Friday ahead of the long assumption holiday weekend, dealers said. Cotelie, the chemical sector, extended its recent sharp rise, gaining nearly nine per cent, but no reason was given for the advance. Dealers noted Cotelle is a narrowly traded share, sensitive to even360 words
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Article289 1977-08-15 7 ZURICH: The market turned mixed on profit-taking on Friday after recent strength with Bally and Oerllkon Beuhrle In flnanclals particularly affected. Landia and GYR registered and Schiadler bearer however firmed against the overall trend In this sector. Insurances closed very steady. In leadlne industrials small gains and losses were289 words
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Article365 1977-08-15 7 JOHANNESBURG: Oold shares firmed mainly on UK interest and slightly higher bullion Indications on Friday, dealers said. They noted constant Interest in Ergo, which advanced nine cents to 436. Mining flnanclals were quietly mixed. Do Boon traded eight cents up at 480. Coppers were weaker on balance, while platinums365 words
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Article305 1977-08-15 7 TORONTO: The market closed lower In moderate trading on Friday. The composite Index was off almost seven points and declines outnumbered advances 195 to 190. Metals, oil and gas and communications Issues were down sharply. Among companies reporting higher earnings Maple Leaf Mills gained 3/8 to 13 3/8 while305 words
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Article1097 1977-08-15 7 NEW YORK. Stock prices continued to fade over a broad area In sluggish trading amid fears of a further rise In short-term Interest rates on Friday. The selling was blamed on new evidence of credlt-tlghten-ing by the Federal Reserve Bank amid concern about an economic slowdown later this1,097 words
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Article1459 1977-08-15 7 On August 12 TRADING on the Chicago Board Options Exchange came to 74,287 contracts on Friday compared with 85,243 contracts on Thflrsdav. OPTION OCT JAN APL STOCK Alcoa 50 1 1/8 2 2 3/4 47 1/2 Alcoa 60 UNTRD 1/4 11/16 47 1/2 Am Exp 35 UNTRD1,459 words
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Article70 1977-08-15 7 FINANCIAL TIMES INDUSTRIALS Friday 472.5 Thursday 478.2 Week Ago 470.2 DOW JONES AVERAGE INDUSTRIALS Friday 871.10 Thursday 877 43 Week Ago 888 69 LONDON DOLLAR PREMIUM Friday 87 W to 87^ Thursday 95 to 95 Vk H.K. HANG SENG Friday 419 26 Thursday 421 08 Week Ago 416.79 SYDNEY70 words
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741 1977-08-15 7 NYT WITH GLOOM hoverln* over Wall Street and thoughts of summer rally all but gone, the Dow Jones Industrial average tumbled at the end of last week to its lowest level since the first trading session of 1970. At the closing bell on Friday,NYT - 741 words
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Article375 1977-08-15 7 AFP THE TOKYO stock market surged ahead to a new high for the year last week as the speculative buying of the preceding week continued. The Dow Jones average closed the week at 5,176.50 yen, up 80.85 yen from last Saturday and the highest since April 2,AFP - 375 words
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Page 7 Advertisements
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Advertisement511 1977-08-15 7 BUSINESS TIMES Airline Directory Aeroflot Soviet Airline* 110-112 Show Centra, Orchard Rood, Singapore 9 (Tel: 377.111) Air Ceylon 302-1, 3rd Floor, Marina House Shenton Way, Singapore (1) (Tel: *****88) Air France Ground. Floor, ICB Building, Shenton Way Singapore 1 (Tel: *****11) 16th Floor, UIC Building, Shenton Way, Singapore 1 (Tel:511 words
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COMMODITY REPORTS AND PRICES
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Article186 1977-08-15 8 LONDON, Sun. Terminal rubber closed quietly steady on Friday at mostly 0.55 pence per kilo up from Thursday night (near Sep at 53.25 pence bid) to 0.10 pence down. The market steadied In the afternoon on preweekend covering and general book squaring, dealers said. Turnover totalled 691186 words
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Article122 1977-08-15 8 THE Straits tin price in Penang on Saturday was down $10 to $1,671 on an official offering up 16 tonnes to 181 tonnes. In LONDON on Friday, tin finished the day around £2 higher for cash but £11 down for Three Months standard metal. High grade tin was122 words
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Article257 1977-08-15 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk $80 sellers, old drum $85 sellers, new drum $90 sellers Copra Mixed (loose) UK/Cont. $50 buyers Pepper Muntok ASTA white f.o.b. 100% NLW $400 sellers. Sarawak white fob 96% NLW $380 sellers, Sarawak special black257 words
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Article76 1977-08-15 8 C I F Rotterdam prices quoted In London on Friday In US dollars per ton Malaysia 4% ffa bulk Aug/Oct Sumatra 5% Aug Sept Oct Nov Dec Nigerian 5% ffa bulk sterling per long ton ROTTERDAM Sumatra Oct Zaire Belg francs per kilo Friday uncti unch 502 5076 words
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Article141 1977-08-15 8 CHICAGO, Sun. Wheat futures closed at the day's lows with losses of 1 Vi to two cents a bushel on Friday. The September contract slipped to a new seasonal low but other months held about a cent above their lows. The declines in soybean futures weakened the market initially141 words
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Article412 1977-08-15 8 Source: Swiss Bank Corp Zurich RETAIL prices per tael quoted by the Singapore Chinese Gold and Silver Merchant Association are $445 for 00 per cent gold, $465 for 22k gold and $500 for 24k gold. In LONDON on Friday, {old finished easier at 144.75/ 145.25 an ounce compared withSource: Swiss Bank Corp Zurich - 412 words
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Article332 1977-08-15 8 LONDON, Sun. The market closed slightly easier on Friday after a firm afternoon, with paired gains from Thursday night of £81.50 (near Sep at £2737.50) to £15 per tonne. The turnover totalled 2,831 lots Including 802 lots self traded and four further options puts two Mar at £2,330 and332 words
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Article50 1977-08-15 8 •Tin: Tonne: tRubber (8): An«g 11,440 234 190.75 Aagt AuflO A I* Am 12 Ai«ia 11,MS 207 cloaed $1,650 208 196.00 61.670 175 1M.50 61,661 165 1M 50 61.671 161 ♦Rubber (M): 199.00 1M.79 197.00 196.50 166.50 *per pic ul tcenu per pieul tcenu per plcul50 words
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Article421 1977-08-15 8 LONDON, Sun. Futures closed with gains of £122 to £50 per tonne on Friday, on a volume of 3,368 lots that Included 21 options. The market tone was barely steady. Nov, after trading up to a day's high of £2,500, finally closed with a gain of £122 at £2,480.421 words
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Article349 1977-08-15 8 BANGKOK, Sun. The market was quiet last week, with no new contracts concluded either In the private or government sectors, trade sources said. The United Nations development programme Is calling a tender for a total of 1,900 tonnes of rice for assistance to Laos, traders said. The grain consists349 words
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Article239 1977-08-15 8 LONDON, Sun. The market remained very quiet on Friday and prices held around opening levels to finish the morning £0.25 down to £0.30 up. Sales totalled 598 lots. The London dally raws price was unchanged at £111 while the whites price was reduced £2 to £108 per tonne. Futures239 words
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Article135 1977-08-15 8 CHICAGO, Sun. Soybean futures on Friday posted losses of 20 to 26 Vh cents a bushel at the close, finishing Just above the day's lows. The hlgher-than-expected USDA crop estimate generated selling which dropped prices sharply but losses failed to reach the 30-cent limits and short-covering took them from135 words
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Article40 1977-08-15 8 LONDON, Sun. Lead showed losses of around £5.25 per tonne for cash and fully £5.75 for Three' Months on Fridav. The market was much quieter after lunch with prices steady, reflecting reduced selling pressure coupled with small scale covering.40 words
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788 1977-08-15 8 ALL was quiet at the Singapore produce market last week and the general undertone was steady until the close when the appearance of more sellers made for an easier trend. Trading with the big markets in the West was hampered by factors ranging from788 words
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Article260 1977-08-15 8 LONDON, Sun. Copper wlrebars registered losses of mostly £4.50 per tonne on the day on Friday. The market held steady on the earlier lower levels aided by short-covering, dealers said. Three Months closed at £678.50. Turnover was 2575 tonnes. Cathodes were £4.50 down for cash and £5.50 lower for260 words
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Article252 1977-08-15 8 LONDON, Sun. Silver finished with net losses of 1.4 to 1.7 pence per troy ounce on Friday. Prices lost further ground on Friday afternoon reflecting the decline at New York and lower gold, dealers said. Moderate selling was again well taken and the market ruled steady at the lower252 words
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Article51 1977-08-15 8 LONDON, Sun. Zinc was around £2.50 per tonne down for cash £3.50 lower for Three Months on Friday. This market also held quietly steady around the morning's lower levels, aided by the tone In copper and lead and a little shortcovering. Three Months closed at £303.00. Sales were 42551 words
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MONEY AND EXCHANGES
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Article170 1977-08-15 8 THE US unit opened virtually unchanged last week at 2.4415-25. However, the US dollar began to edge upwards to 2.4455-55 on news that apparent efforts by Fed. To tighten monetary policy saw dollar strengthening against the German mark from 2.2950 to 2.3310. But the US unit In Singapore did170 words
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Article41 1977-08-15 8 ACBC 6>« Algemene Bank (>• 6'« Bangkok Bank 7 HSBC CH Bank of America Indoauez 8». 7 (i, Bank of Tokyo <*« Bank Nc«ara OCBC Indonesia 7 OUB Chartered Bank 6'. UCB 7 Chaae Manhattan UMBC 7 DBS UOB «S41 words
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Article289 1977-08-15 8 Asian rates RATES last week rose In face of credit tightening by the Reserve Board when It Intervened In the market draining funds from the system. Earlier, anticipation of Increase In weekly money supply also attributed to firmness. However, Ml registered $700 million increase and M2 up 91 billion, but289 words
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Article311 1977-08-15 8 Source: International Discount Co Ltd. MONEY market conditions remained firm for the earlier part of last week owing to tax payments. However, conditions eased slightly on Thursday. Overnight money was traded in the region of 8 1/2 eight per cent on Monday to close the week at theSource: International Discount Co Ltd. - 311 words
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Article366 1977-08-15 8 ZURICH, Sun. The dollar's strengthening at the beginning of last week was mainly due to a statement by US Secretary of Treasury, Mr. Michael Blumenthal, at the finance ministers' conference, In which he underlined the Importance of a strong dollar. Rising Interest rates in the US and on the366 words
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Article231 1977-08-15 8 LONDON, Sun. Sterling drifted lower in late trading here on Friday, following publication of the July UK trade figures, but the volume of bargains was generally thin ahead of the weekend. Most market expectations had been for a surplus on the July current account and news of a £36231 words
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Article129 1977-08-15 8 Euro rates LONDON, Sun. Eurodollar deposit rates on Friday closed little changed from earlier levels after quiet afternoon trading ahead of the weekend. Periods remained around easier levels that followed higher openings on Indications of tightening in US monetary policy and initial gains of around 1/16 to 1/8 were reduced129 words
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Article91 1977-08-15 8 THE local money market last week opened tight, with strong bidding interests, pushing overnight rate to over eight per cent. It remained at this level till mid-week. Periods were active, especially the One Month, which was traded to 4 3/4 per cent at one stage. Opening of the91 words
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Article300 1977-08-15 8 NEW YORK. Sun. The dollar closed with widespread gains on Friday after further signals that the Federal Reserve Board is driving US short term interest rates higher. New York federal reserve bank made weekend reverse repurchase agreements when federal funds were trading at 5 15/16 per cent, v300 words
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Article44 1977-08-15 8 FRANKFURT exchanges closing quotes on Aug 12 US 2.3285/ 95 Can 2.1655/ 75 UK 4.048/ 058 Neth 94 92/ 95.02 Swltz 96.33/ 43 Italy 2.635/ 645 France 47.35/ 45 Japan 0.8730/ 45 Beig com 6.525/ 535 Belg fin 6.511/ 512 Norw 44.18/ 2844 words
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Article37 1977-08-15 8 FOR the week ended Friday Aug 12, the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND 2H% to 514 FUNDS 2*% Movements of funds totalled $450 million.37 words
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Advertisement170 1977-08-15 8 4SU®~ -111 J MONTHLY ECONOMIC REPORTS With monthly politicol supplement for UP-TO-DATE HANDY REFERENCE ASIA RESEARCH BULLETIN This unique publication offers businessmen each 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. The170 words
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929 1977-08-15 9 JAMES LAWTON - There must be a realistic look at the game By JAMES LAWTON ENGLISH Soccer needs to find a Moses. Someone to go up the mountain for a new set of commandments. The trouble Is we can be almost sure he would come tottering down929 words
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Article787 1977-08-15 9 The Observer IF MR MARKS or Mr Spencer or Mr Woolworth were asked to describe his idea of commercial heaven I imagine his answer would go something like this: 'Well, I would steer clear of the necessities of life. Things like bread, and milk,The Observer - 787 words
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406 1977-08-15 9 STEVE CURRY - By STEVE CURRY Daily Express SOCCER stars of the seventies are not as dedicated to their profession as the men in the game a decade ago. This is the view of Martin Peters, a player described by Sir Alf Ramsey after theDaily Express - 406 words
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505 1977-08-15 9 UPI NEW YORK, Sun. Frolicking in the rain, Debbie Austin reeled off the best round of her 10-year career yesterday, a slx-under-par 66, to take a two-stroke lead over Jane Blalock Into the final round of the Long Island CharityUPI - 505 words
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Article308 1977-08-15 9 Reuter LONDON, Sun. It was a new-look Liverpool who tried, and just failed, to gain revenge over Manchester United In the Charity Shield the traditional curtalnralser to the English football season here yesterday. The European champions drew 0-0 with the side that beat them 2-1 onReuter - 308 words
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Article335 1977-08-15 9 Reuter MELBOURNE, Sun. Australian soccer Jimmy Shoulder said after his team's 0-1 World Cup loss to Iran here today that Australia would have won the match confortably if midfielder Dave Harding had not missed a penalty one minute before halftime. "If that missed penalty hadReuter - 335 words
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Article57 1977-08-15 9 DUBLIN, Sun Argentina's Gulllermo Vilas won his 33rd consecutive victory on clay yesterday, beating Jim Oulllkson of the United tates 8-4, 6-4 to reach the semi-final of a U*****,000 ($312,000) tennis tournament here. Vilas, the second seed, will now play Billy Martin of the United States who57 words
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422 1977-08-15 9 AP PEBBLE BEACH, Sun Oene Littler survived an early challenge by Jack Nlcklaus yesterday to take a four-stroke lead Into the final round of the United States Professional Oolfers Association (POA) Championship at the Pebble Beach golf links here. Nlcklaus, who started the dayAP - 422 words
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Article323 1977-08-15 9 Problems of managers by Bell WILLIE BELL, strict boss of Birmingham City, said last night: "I'm wondering whether the time Is not approaching when managers should start telling all. "That would include the reasons why we fine players, other action we take inside the club and not forgetting the wages323 words
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Article95 1977-08-15 9 KEITH WELLER, Leicester's richly talented midfleld player, admitted yesterday that his career is under serious threat After working throughout the summer to recover from an operation for a flaked knee Dose, Weller will begin the new season under medical care. Altftougb 30-year-old Weller played in95 words
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Article, Illustration914 1977-08-15 9 GERALD LOONQ, Singapore's Asian Cup representative, who led from the first to the three round, was nosed out to third place In the Singapore Amateur Open golf championship at Buklt Course yesterday. And the new champion Is Ashok Malik, the former Indian champion who came914 words
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Advertisement217 1977-08-15 9 INTRODUCING Hie Champion Speedster. 4 u «TPP" T\ CI J r %»—sr i T>\ At W. Black-Max Tunnel Groove Slatom loir agfnts \AJ KING COMFttNY all lines of sports s rr i LEISURE TIME PRODUCTS I fl ?31 RAfft€SPLACE SINGAPORE i UL.9'i>sr ;l»'/ Black-Max TG. 'tmr 2 *>oc» Mohogony Cora217 words
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310 1977-08-15 10 UPI WASHINGTON, Sun. The world food crisis, which received widespread publicity In 1974, is still a problem, and prospects for the future are not encouraging, according to a new study by the International Food Policy Research Institute. "Despite major technological advances and vigorousUPI - 310 words
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Article191 1977-08-15 10 AIDED by the recovery of the world economy, Singapore's rubber trade put up a good performance last year. Trade increased 16 per cent to 1.8 million tonnes and In value terms, it rose from $2,048 million to $3,275 million. The Department of Trade, in its 1976/77191 words
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Article168 1977-08-15 10 ONLY $2 million or five per cent of the $42 million in taxes due to taxpayers are actually refundable. The rest comprises advance tax payments by both companies and individuals to the Inland Revenue Department, according to a spokesman who was commenting on the recently168 words
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Article110 1977-08-15 10 Reuter HONGKONG, Sun. A leading Hongkong trade official has called on Japan to change its trade policy and import much more from developing nations. Mr Peter Tsao, Deputy Director of Commerce and Industry, told a seminar here: "The trading policy of Japan could change to absorbReuter - 110 words
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250 1977-08-15 10 MINI computers will feature prominently in the forthcoming Asian Business Exposition (ABEX 77) to be held at the Hyatt Hotel from Sept. 7 to 10. This type of computer has attracted the attention of businessmen in recent years. It is not uncommon250 words
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174 1977-08-15 10 Reuter WASHINGTON, Sun. The International Monetary Fund said it will auction gold at its next three monthly auctions by the bid price method. Under this method, each successful bidder will be awarded gold at the actual price they bid. The most recent auctions haveReuter - 174 words
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Article558 1977-08-15 10 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKG SAS SK097 0640 CPH/THR/BKK MAS MH682 0810 KCH CPA CX710 1000 HLP GIA GA980 1030 HLP THAI TG423 1035 BKK SIA SQ211 1045 HLP GIA GA944 1055 PKU GIA GA908 1100 MES PAL PR501 1115 MNL558 words
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838 1977-08-15 10 THE benefits of Singapore's proposed 4,000-seat convention hall go far beyond merely turning the citystate into a huge International meeting place for dialogues on the world's problems. It will also produce a tremendous "multiplier" effect on the tourist Industry here.838 words
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341 1977-08-15 10 THE European Economic Commission may set up a centre in Asean. The Belgian Ambassador to Singapore, Mr. M. Depasse, said he was informed about a couple of months back that the EEC was looking Into the viability of establishing an office341 words
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236 1977-08-15 10 BANGLADESH is opening its forestry In the eastern part of the country for export purposes, for the first time since It gained Its Independence In 1971. Mr. D.S. Yusofhyder, Its trade commissioner In Singapore said there have been no legging operations In the236 words
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Article31 1977-08-15 10 UPI NEW YORK, Sun. A strike by 58,000 New York Telephone Co. workers ended this morning, 6ft hours after It started, with tentative acceptance of a new three-year contract.UPI - 31 words
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Article255 1977-08-15 10 KISMET DYNAFLEX will exhibit Its new equipment for checking suspension and steering wear on heavy vehicles at the "Machine Asia" exhibition to be staged at the Hyatt Hotel. It Is called the Checkwear and consists of a pair of plate-units and a lowvoltage hand-held inspection255 words
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Article58 1977-08-15 10 THE Singapore Insurance Training Centre Is holding a talk on Aviation Insurance today at the Shangri-La Hotel from 12.00 to 2.00 p.m. The guest speaker is Mr Henry White-Smith, a Lloyd's broker and specialist In the field of Insurance aviation. He Is also the senior partner and58 words
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Article, Illustration211 1977-08-15 10 THE United States Regional Trade Centre in Singapore Is now known as the United States International Marketing Centre (US IMC). According to IMC director, Mr. George Clausen (above), this change Includes the bringing of US products to Asean countries in more concentrated and effective211 words
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Article343 1977-08-15 10 NEW YORK, Sun. United f States banks expect they will shortly have to reschedule loans to Peru amid growing concern about the country's economic situation, senior banking and Peruvian sources here said. A widespread default is unlikely but banks are reviewing all their commitments to343 words
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457 1977-08-15 10 PETROCHEMICAL Corporation of Singapore (PCS), Incorporated In Singapore last Wednesday will have an authorised capital of $200 million and an initial paid-up capital of $3 million. A PCS statement released yesterday further described the company as a 50:50 iolnt venture between the Singapore457 words
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Page 10 Advertisements
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Advertisement373 1977-08-15 10 y©U ACE INVITED to the First International Exhibition of Business Equipment Services in Southeast Asia O >4 BEX" ASIAN BUSINESS EXPO September 7, 8, 9. 10. 1977 Hyatt Singapore Hotel Convention Centre A Rewarding Event for Business Personnel in Industry, Retailing, Wholesaling, Commerce 16S DISPLAYS... of equipment and systems for373 words
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