The Business Times, 22 August 1977

Microfilm: NL9344
Total Pages: 10
1 10 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, AUGUST 22, 1977 50 CENTS
    10 words
  • NEWS IN BRIEF
    • Article
      Lock icon Ready for peace
      79 1 AFP NEW YORK, Sun. Syria, Egypt and Jordan have told the United States they are ready to sign peace treaties with Israel within the framework of a global Middle East settlement, the New York Times reported today. Egypt and Jordan might also consider an American proposal to
      AFP  -  79 words
    • Article
      Lock icon Earthquake relief
      67 1 Reuter JAKARTA, Sun. The Indonesian government today rushed food and other supplies to the southeastern islands of Sumba and Sumbawa which were devastated by a powerful earthquake and tidal waves on Friday. Officials said here that 200 tonnes of rice, other supplies and 7.5 million ruplahs (about 5546,000)
      Reuter  -  67 words
    • Article
      Lock icon BA flights cancelled
      62 1 AFP LONDON, Sun. Forty three British Airways flights out of London's Heathrow Aixport were cancelled today because of the air traffic control assistants' strike, an airline spokesman said. Six of the flights were intercontinental and 37 were to locations within the British isles and the rest of
      AFP  -  62 words
    • Article
      Lock icon Fishing talks
      52 1 UPI TOKYO, Sun. Japan will sound out South Korea on whether It plans to proclaim a 320-km fishing zone at bilateral fishery talks opening in Tokyo tomorrow, government sources said today. The sources said the two nations will hold their annual Joint fishery committee meeting from tomorrow to
      UPI  -  52 words
    • Article
      Lock icon Tokyo quake
      30 1 Reuter TOKYO, Sun. A minor earthquake shook Tokyo and its vicinity here today but there were no reports of damage or casualties, the Central Meteorological Agency said. Reuter.
      Reuter  -  30 words
    • Article
      Lock icon Strike threat
      84 1 AFP NEW DELHI, Sun. Air India is facing the threat of an Indefinite strike by Its pilots shortly, according to the Times of India. The strike plan is to press reinstatement of a pilot dismissed by the airline during the 1974 pilots' strike. The newspaper said many members
      AFP  -  84 words
    • Article
      Lock icon Vietnam buys steel
      71 1 AFP TOKYO, Sun. Japanese steelmakers are to export about 130,000 tonnes of rolled carbon steel to Vietnam later this year. Industry sources reported over the weekend. The sources said a syndicate of Japanese commercial banks has agreed to extend a US$35 million (5585.4 million) loan to the
      AFP  -  71 words
    • Article
      Lock icon Japanese stimuli
      67 1 AFP TOKYO, Sun. Prime Minister Takeo Fukuda indicated today that his government will take more expansive monetary measures Including another cut In the official discount rate. "A supplementary budget for additional appropriations and some monetary measures will become necessary," the Premier said In a television Interview for broadcast
      AFP  -  67 words
    • Article
      Lock icon Austrian mission
      58 1 AFP KUALA LUMPUR, Sun. A 35-member highpowered Austrian trade mission will arrive here in October to explore possibilities of increasing bilateral trade. The mission, which will be headed by the Joint secretary of the board of foreign trade of Austria, Dr. P. Fritz, will Include representatives of Importers,
      AFP  -  58 words
    • Article
      Lock icon Stoppages spread
      78 1 AP BUENOS AIRES, Sun. A teamsters strike against Exxon and Shell Oil spread to four provincial Argentine cities over the weekend, shutting down more gas stations operated by these companies, oil Industry spokesmen reported. The 3,014 stations operated by the two companies In the Buenos Aires area have
      AP  -  78 words
  • Article
    TOP TEN STOCKS
    111 1 THE following list of stocks gives the 10 moet 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 19 1977
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  • LOCAL STOCK INDICES
    • Article
      SINGAPORE
      70 1 tt B.T. Index: Aug 15 386.85 Aug 16 406.31 Aim 17 403.59 Aim 18 400.37 Aac 19 399.21 t t Industrials: Finance: Hotels: Properties: Tins: rubbers: O.C.B.C.: S.E.S. Ind: 204.53 445.81 187.29 169.05 120.59 359.97 243.96 238.37 285.54 445.53 167.25 169.13 120.53 381.25 244.37 239.59 285.41 445.53 168.01 168.58
      70 words
    • Article
      MALAYSIA
      74 1 tt B.T. Index: 410.70 413.46 413.00 411.76 406.73 Industrials: 202.93 294.15 294.34 293.46 298.56 Finance: 382.37 382.89 381.96 361.85 382.89 Hotels: 174.11 174.41 174.48 174.71 175.54 Properties: 155.82 156.73 156.22 156.28 156.97 t Tins: 139.50 129.41 129.18 128.31 128.66 t rubbers: 325.56 325.23 325.47 325.71 325.98 tt Jan 1.
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  • Article, Illustration
    Time to right our trade deficit
    1244 1  -  LOOK TO WEST ASIA «y JOHN TAN SINGAPORE'S chronically large trade deficit could become a problem In the future, if Imports are not matched by higher exports but recognising the problem is Just not enough. Rich markets are now available and the early bird
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  • Article
    Make use of new tax benefits call
    99 1 THE Singapore Manufacturers Association has urged all manufacturers and traders to take advantage of the improvements in the double tax deduction scheme announced by the Government last week, and make greater efforts to explore and secure overseas markets. In a statement, the SMA
    99 words
  • Article
    July trade growth dropped to 10pc
    197 1 SINGAPORE'S trade growth in July slackened considerably to only 10 per cent from the similar 1«78 month, which Is much lower than the 19 per cent recorded for the first seven months of this year. The trend In trade balance, however, continues to Improve
    197 words
  • Article
    Firm seeks culprits of forged LCs
    333 1 A SINGAPORE firm, Llppo Trading. Is offering a $5,000 reward to those who identify the culprits here responsible for the forgery of 15 letters of credit worth more than US$3 million ($7.35 million). According to v Taiwan newspaper reports, the 15 LC's allegedly issued
    333 words
  • Article
    Lock icon Accord on Straits traffic scheme
    140 1 Reuter PENANO, Bun. Indonesia, Singapore and Malaysia have screed to present their scheme of traffic separation in the Malacca Straits to the International Maritime Consultative Organisation (IMOO) for acceptance. Malaysian Foreign Minister Datuk Ahamd Zalnal Abldin said at the end of a three-day meeting of
    Reuter  -  140 words
  • Article
    Lock icon Opposition to uranium mining
    59 1 Reuter CANBERRA, Sun. Seven leading Australian scientist* today called on the Kvernment to postpone leflnltely a decision to resume the mining and export of uranium. The group said In a statement: "It now seems certain that the government is on the point of announcing the go-ahead
    Reuter  -  59 words
  • Article
    Lock icon New finds are making Mexico rich in oil, gas
    242 1 AP MEXICO CITY, Sun. A Mexican oil official says new discoveries in the Gulf coast area are rapidly turning this country into one of the world's richest countries in oil and natural gas. Director general Jorge Diaz Serrano of Pemex, the
    AP  -  242 words
  • Article
    Asean swap facility a realistic alternative
    642 1 TO FORGE closer monetary links, Asean governments have adopted the US$lOO million (8*245 million) swap arrangement In favour of the Asean Clearing Union. Financial experts maintain the $100 million standby credit facility offers a "more realistic alternative" to the more complicated clearing union. Agreement
    642 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      47 1 r Rfcowl for plain paper copying *****33 Wywy Private Limited ...a responsible company 39th Floor Hong Ltoog Building Singapore 1. LeUurwTV ft Radio/ Jf** 1 C».N«w/ Crawwordi _pj Share Information Or——i Stocks Leisure _pj Feature —P4 Sporto International Co New*/ Local ft Overseas Overseas New* —P5 News
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    • Advertisement
      Page 1 Advertisements Column 2
      118 1 International trade? ACBC makes it easier. ACBC provides all the services required for successful trading on the international scene. From opening letters of credit, to export financing, to foreign exchange. Making it easier with a simple direct service. Not only to take care of the routine but indispensable day-to-day banking
      118 words
    • Advertisement
      Page 1 Advertisements Column 3
      117 1 >[?[-|-"\|<-.%';'*&_\)$?*^!_[=% JAL FLIGHT 712: THE TOKYO EXPRESS NEW YORK VANCOUVER FRANCISCO^ I W ANGELES I (HONOLULU SINGAPORE mm? m x--1 wti MEXICO CTTY Only on JAL can you non-stop to Tokyo, then make convenient connections to U.S. and Canada. 39 JAL flights depart every week. And as you arrive in
      117 words
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  • Article
    TELL OR DELIST
    636 2 MALAYAN Credit's early release of Its balance sheet Just three days after Its preliminary statement would have been the cause of much congratulations In any other curcumstance save the one which prompted Its Issue. For while the company will go down In Singapore's corporate history as being
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  • REVIEWS
    • Article, Illustration
      Lock icon Dance season short on excitement
      1129 2  -  By ANNA KISSELGOFF NYT NEW YORK: It was not the best of times or the worst of times. With apologies to Charles Dickens, this seems to be the neatest way to sum up the 1976-77 dance season that has just ended. One can't call it
      NYT  -  1,129 words
    • Article
      Lock icon Mozart or classic musical joke?
      617 2 NYT PARIS: Almost every morning, lovers of classical music here have switched on their radios to hear Yehudl Menuhln's violin strings soar through the "Adelaide" concerto. When the music ends, the listener perks up to confirm his certain knowledge that Mozart's hand was behind the
      NYT  -  617 words
    • Article
      Lock icon People wanted, not critics
      652 2 By CKT THE question Is whether we will be perfectly sloshed with the experience of It. That Is the Important thing. And I am not talking royal plural here because what Is wanted on the nights of September 15 and 17, when the Singapore Philharmonic Orchestra
      By CKT  -  652 words
    • Article, Illustration
      One man's journey into his cultural past
      1804 3  -  By TAN HWA LUCK JULY 1: Flew to Hongkong In 747. BIA. Good inflight service. The Hongkong Chinese all appear to be Cantonese chauvinists. Unable to realise that not all people of Chinese origin speak Cantonese. One female tour member had an encounter
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    • Article
      Lock icon Timely stocktaking of modern poetry
      1014 3  -  BOOKS 1 By THOMAS LASK NYT A History of Modern Poetry. By David Perkins. 623 pages. Belknap Press of Harvard University Press U5517.50. DAVID Perkins's history of modern poetry comes at an appropriate moment. With the century three-quarters gone, it is a good time to
      NYT  -  1,014 words
    • Article
      Rooting for the human spirit
      299 3  -  By JOHN TAN "ROOTS" Is a moving story of one man's painstakingly successful search for Identity. Readers cannot help but Identify with author Alex Haley's emotional experience at being able to trace his ancestry more than 200 years Into the past and be able to
      299 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      87 2 must be super functional to produce:clean, clear duplicates Duplicates even on ordinary paper and on both sides too Super savings on running cost. Space saving too when it comes to filing Multi-duplicates up to 20 duplicates with a mere touch of a button. Simple and easy. Clean-clear duplicates even from
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      52 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Aug 21 at Singapore airport. Maximum Temperature 30.1° C Associated Humidity 77 Minimum Temperature 22.9° C Associated Humidity 100 Hours of Sunshine 3.80 Rainfall in Millimetres 7.0 Total Rainftll for the Month 140.3 Total Rainy Days for the
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      732 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 1 Highwaymen! (6) 7 NCO little like Napoleon (8) 8 Where, Initially. Pacific Is Atlantic! (4) 10 One Is powerless to fly It (6) 11 People pa sang for (6) 14 Three modern courses (3) 16 Can't an Eskimo tell one end from t'other? (5)
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      367 3 JACK CHIA-MPH LIMITED Jc-fnph (Incorporated in Singapore) ANNOUNCEM] AUDITED RESULTS For the Financial year ended 31.3.77 31.3.76 SS'OOO 41.928 Ss'ooo 34.842 Change Sales 41.928 34.842 +20% Consolidated Profit before tax 5.049 3.649 +38% Consolidated Profit after tax 3.632 1.993 +82% Net Tangible Assets 25.950 25.444 2% Stockholders' Equity 35.861 35.406
      367 words
    • Advertisement
      Page 3 Advertisements Column 2
      68 3 V .r fP fc 'f -**k Ml 1 Vr m. r j*» 3 •Af 4 i I d Sizzling U.S. Center Cut Prime Sirloin This prime grain -fed beef is specially chosen for beef connoisseurs served on sizzling hot plate rifco GRILL don't knew hew good it is until you
      68 words
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  • Article
    Lock icon Robbing a bank in order to buy it
    1829 4 This ia the second article on David Graiver, the Argentine mystery man of international finance who disappeared in a plane crash in August last year. Ros Lis ton and James White report. UPI NEW YORK: Argentine financier David Oralver, who toppled American
    UPI  -  1,829 words
  • Article
    Lock icon Europe's havens away from home getting rarer
    974 4  -  By JOHN RUSSELL NYT NEW YORK: Where to stay in Europe was once no problem at all. Favoured names were handed down from father to son, like preferential stock In a comEany that could only do etter and better. Fundamental to romance, they
    NYT  -  974 words
  • Article
    Lock icon Tackling the Schlumpfs
    1139 4  -  By JONATHAN KANDELL NYT MULHOUSE, (France): < Fritz and Hans Schlumpf arrived In this Alsatian town on the eve of World I War n, built a textile factory that prospered under. < the German occupation and emerged In the postwar era as the largest woolen textile producers
    NYT  -  1,139 words
  • Article
    Lock icon East Germany's creative exodus
    1043 4  -  By MARK BRAYNE Reuter EAST Bast Germany is losing more and more of Its best writers and entertainers as they turn their backs on their country and cross over the border to live In West Germany. Most of those who have already left or applied to
    Reuter  -  1,043 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      70 4 Taste the difference in TSENGTAO BEER! T singtao beer is distilled from the ngta< sparkling mineral waters of Mount Laoshan in China. There's abundant goodness bottled up in Tsingtao... The goodness of the finest barley and hops and mineral waters. Come, taste the difference in Tsingtao beer. Available in all
      70 words
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  • Article
    Lock icon TIMES MIRROR TO BUY GILLESPIE DAILIES
    389 5 NYT STAMFORD, CONN., Sun The publisher of the Stamford Advocate and Greenwich Time said that agreement had been reached to sell the two dally gapers to the Times Mirror ompany of Los Angeles for an undisclosed amount of Times Mirror stock. The Times Mirror
    NYT  -  389 words
  • Article
    Lock icon Barclays issue
    36 5 Reuter LONDON, Sun. Barclays Bank International said It Is planning a $100 million 15-year Eurobond with an expected 8% per cent coupon to be issued through Its Dutch financing subsidiary, Barclays Overseas Investment. Reuter.
    Reuter  -  36 words
  • Article
    Lock icon Bougainville hit by first half setback
    369 5 Reuter MELBOURNE, Sun. Unaudited net profit at Bougainville Copper fell sharply to 13.93 million klna for the first half-year ended June 30, 1977 from 22.55 million klna previously. Revenue also declined to 92.43 million klna from 105.68 million klna hi the first half of
    Reuter  -  369 words
  • Article
    Lock icon Babcock board accepts McDermott bid
    60 5 Reuter NEW YORK, Sun. Babcock and Wilcox said its board plans to recommend to shareholders the acceptance of J. Ray McDermott's amended stock purchase offer. The company said Its board believes the McDermott offer is in the best Interests of its stockholders. Last Friday, McDermott
    Reuter  -  60 words
  • Article
    Lock icon Harbour recommends Hutchison offer
    306 5 Reuter HONGKONG, Sun. Harbour Engineering said It recommends that shareholders support proposals for a HKSIO million subscription by Hutchison International Ltd., (HIL) In new equity and convertible loan capital. In the 1976 annual report the company said without the Infusion of capital under the proposals the
    Reuter  -  306 words
  • Article
    Lock icon Bank of England's new tap stock
    320 5 Reuter LONDON, Sun. The Bank of England announced the issue of £1.4 billion of new 'tap* stocks comprising £800 million of 9 1/4 per cent Treasury stock 1983 and £600 million of three per cent Exchequer stock 1983. The £800 million Issue will be
    Reuter  -  320 words
  • Article
    Lock icon CSR's stake in AAR
    94 5 Reuter MELBOURNE, Sun. CBR holds 3.12 'million of the 25.85 million $1 par shares in AAR, CSR reported to the Melbourne Stock Exchange. This is equal to 12.1 per cent of AAR's Issued capital and not 11.1 per cent as Reuters erroneously said last Friday after
    Reuter  -  94 words
  • Article
    Lock icon Guidelines set for studies on copper price stabilisation
    304 5 Reuter O EN EVA, Sun. Government experts from some 50 countries at a three-day meeting here set guidelines for specialised economic studies to test the feasibility of possible schemes for stabilising the world copper market, conference sources said.' The studies, expected to
    Reuter  -  304 words
  • Article
    Lock icon British MLR unchanged
    80 5 Reuter LONDON, Bun. The Bank of England set mlnlgium lending rate unchanged at seven per cent. The average rate at Friday's UK Treasury bill tender fell to 6.4204 per cent from 6.4887 per cent. Last week's £300 million (881,275 million) offer of 91day bills met applications of
    Reuter  -  80 words
  • Article
    Lock icon 'Farm exports will decline'
    500 5 Reuter WASHINGTON, Sun. The value of US agricultural exports In fiscal 1978 starting this Oct 1 Is likely to decline five to 10 per cent, the US Agriculture Department said In Its Farm Exports Outlook report. Fiscal 1977 farm exports are expected to reach US$24 billion
    Reuter  -  500 words
  • Article
    Lock icon South African surplus up
    146 5 Reuter PRETORIA, Sun. The South African trade surplus rose to 95.4 million rands In July from a June surplus of 14.5 million and a deficit of 283.9 million In July last year, Department of Customs and Excise figures show. Exports in July were 506 million rands
    Reuter  -  146 words
  • Article
    Lock icon Drop in steel output
    49 5 Reuter BRUSSELS, Sun. Crude steel production In noncommunlst countries In July totalled 35.85 million tonnes, 7.1 per cent down on the same month last year, International Iron and Steel Institute (OBI) figures show. Falls were mainly recorded In the EEC, Japan and the US. Reuter.
    Reuter  -  49 words
  • Article
    Lock icon Japanese investing more in US bonds
    182 5 Reuter TOKYO, Sun. Japanese Investors are Increasing their investment In US medium-term bonds, taking advantage of a widening differential between US and Japanese Interest rates, Dalwa Securities said. 'Yields on five to ten year Japanese corporate bonds now average slightly below seven per cent,
    Reuter  -  182 words
  • Article
    Lock icon Funds for Taipower's thermal plant
    107 5 Reuter HONGKONG, Sun. The US Ex-Im Bank will provide a US$ll6.B million loan to the Taiwan Power Co (Talpower), the Central News Agency, monitored here, quoted a finance ministry spokesman as saying. The funds wdl go towards the $212.4 minion cost of constructing a thermal
    Reuter  -  107 words
  • Article
    Lock icon Burmah ships its first load
    101 5 Reuter LONDON, Sun. Burmah Oil said it has completed shipment of its first cargo of liquid natural gas for Pertamlna, from Badak, Indonesia, to Osaka, Japan. The carrier Is now on Its way back to the Indonesian transhipment Port of Ban tang. Burmah has a
    Reuter  -  101 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      468 5 Dataprep/ Data General If your compares big computer is so incredibly fast, why does it take so long to get the report you need? The trouble with your company's computer is that it has a lot of people to take care of. So you can't drop by and pick up
      468 words
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  • COMPANY NEWS
    • Article
      Selangor Dredging outlook bright
      653 6 SELANGOR DREDGING Is optimistic that its earnings in the current year will equal the record breaking pre-tax profit of M 518.68 million for the year ended March 31, 1977 which compares with $4.84 million in the previous year. In his latest report to shareholders, Chairman Dato
      653 words
    • COMPANY MEETINGS
      • Article, Illustration
        Ben and Company Ltd:
        40 6 THE following company meetings are due: Aug 22, 12 noon, at the Registered Office, No. 45 Spottlswoode Park Road, Singapore 2. Mr. John G. Gilmour, chairman of Bon, which la duo to hold ita AGM today.
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      • Article
        Singapore Finance Ltd:
        18 6 Aug 24, 12 noon at the Registered Office, 45/47 Ramayana Building, Robinson Road, Singapore 1.
        18 words
      • Article
        George Kent (M) Berhad:
        15 6 Aug 25, 12 noon Bangunan MIDF, 117, Jalan Ampang, Kuala Lumpur.
        15 words
    • Article
      Barrage of queries over Jardine Estates sale
      443 6 A BARRAGE of questions has been directed by the Stock Exchange of Singapore and the Kuala Lumpur Stock Exchange at Jardine Matheson (SEA) and Oriental Holdings over the sale of Jardine Matheson Estates. The two companies announced on Aug 15 that Jardine Matheson
      443 words
    • Article
      DIVIDENDS ANNOUNCED
      281 6 Current Ex Date Total for Total for payment Date payable the year previous year George Kent 12% July 21 Aug 26 12% 10% Malaysian Tobacco 15%I July 28 Aug 29 15%I 50% Island A Pen. 8% Aug 11 Aug 30 15% 13% Pan Electric 20% July 26 Aug
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  • Article
    Share Information Service
    2532 6 1*77 Hick Low CM^uy Last Sale Weak +«rCk'a DH D*v Ctt Gr's Y'ld Nat P/E Week Vol rmt) Week High Low SECTION ONE INDUSTRIALS 154 204 98 230 88* 198* 189 223 404 171 136 172 58 212 57* 156 152 182 350 145 Acma Alcom Allied
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  • Page 6 Advertisements
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Amsterdam
      327 7 AMSTERDAM: The market closed mixed on Friday with Unilever rising 1.70 guilders In Dutch Internationals. Hoogoveaa recovered after a 1.40 rillders lower opening to close 50 guilders down on Its higher first half net loss. NedUoyd was weak after announcing a lower than expected first half profit. Pakkoed closed
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    • Article
      Brussels
      162 7 BRUSSELS: Belgian share prices closed lower on Friday, on lack of buying Interest In quiet trading ahead of the weekend. Union Miniere, Cockerill and Arbed rose but Traction, Clabecq, GB, Gaevert, UCB, Solvay and Cometra were lower. Petrofina and Its US and Canadian subsidiaries were hardly changed. In foreign
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    • Article
      Frankfurt
      337 7 FRANKFURT: Shares closed with some losses on Friday, but on lower turnover than on Thursday, bourse sources said. In chemicals Barf which announced lower first half pre tax profits, fell 2.60 marks setting the trend, while in banks Deutsche Bank and Commerzbank both lost 2.50 marks. In stores Karatadt
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    • Article
      Milan
      167 7 MILAN: The market closed sharply higher In active trading on Friday at the start of the new account with operators generally encouraged by expectation of official measures due later this month to modify companies turnover taxation and reports on Improved July balance of payments, dealers said. Leading Industrials, financial,
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    • Article
      Paris
      344 7 PARIS: The market continued to show firmness, responding to a lower French trade deficit, lower call money and an expected reduction in the rate of Inflation for July, dealers said on Friday. Metals, engineerings and stores were particularly strong, with PUK up 1-Vi per cent. Some chemicals showed an
      344 words
    • Article
      Zurich
      271 7 ZURICH: The market turned irregular In continued active trading on Friday. Banks followed a mixed path In lower turnover. Among financial, Oerlikon- Buehrle lost again ground on proflttaklng. Insurances fluctuated narrowly. Leading Industrials pointed generally higher. Engineerings firmed Influenced by a slight recovery In the second quarter reported by
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    • Article
      Jo'burg
      394 7 JOHANNESBURG: Gold shares were firmer on the stock exchange aided by renewed US and London Interest, dealers said on Friday. They added however, that some prices were off earlier upper levels towards the close on profit taking. Trading was fairly brisk, they said, with heavyweights up to 60 cents
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    • Article
      Toronto
      316 7 TORONTO: The market was unable to maintain its morning advance and closed easier in quiet trading on Friday. Losses in metals and oil and gas Issues pushed the composite Index down more than 1-W points and declines outpaced advances 197 to 146. Scottish and York gained 10 cents to
      316 words
    • Article
      New York
      1203 7 NEW YORK: Weakness in oil stocks led the stock market to another decline on Friday, closing out a week In which worries about tighter money helped send prices lower in four of five sessions. Trading was moderate. The market was helped at the outset by a government report,
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    • Article
      Indices
      61 7 FINANCIAL TIMES INDUSTRIALS Friday 487.7 Thursday 487.6 Week Ago 472.5 DOW JONES AVERAGE INDUSTRIALS Friday 883.48 Thursday 864.26 Week Ago 871.10 LONDON DOLLAR PREMIUM Friday 89* to 90* Thursday 91* to 92* H.K. HANG SENG Friday 419.36 Thursday 420.01 Week Ago 419.26 SYDNEY INDUSTRIALS Friday 361.44 Thursday 363.44 Week
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  • Article
    CHICAGO BOARD OPTIONS
    1411 7 On Aug 19 TRADING on the Chicago Board Options Exchange came to 94,533 contracts on Friday, compared with 109,021 contracts on Thursday. OPTION OCT JAN APL STOCK Alcoa 4S 2 3/8 3 1/2 3 7/8 46 1/4 Alcoa 50 3/4 1 1/4 2 3/8 46 1/4 Alcoa
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  • Article
    Bond prices move up as NYSE slide continues
    763 7 THE New York stock market's relentless slide continued last week, while bond prices moved higher and posted their best gains for a single week since late June. Stocks kept reacting adversely to higher shortterm interest rates while the bond market, In effect,
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  • Article
    Tokyo prices rise in heavy trading
    275 7 PRICES advanced for the third straight session In heavy trading on the Tokyo stock market last week, carrying the Dow Jones average above 5,200 yen for the first time In four years. Behind the advance was improved investor confidence stemming from growing hopes for
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  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      66 7 MONDAYS, WEDNESDAYS and FRIDAYS from Singapore. TUESDAYS and SATURDAYS from Bangkok. wmrw \v, a i s A/ KLM friendly, helpful, efficient, reliable. The sort of airline you'd expect from a wonderful country like Holland. r < w r 4 ft V v. KLM ROYAL DUTCH AIRLINES G2 Mandarin Hotel Arcade,
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  • COMMODITY REPORTS AND PRICES
    • Article
      FOREIGN RUBBER MARTS
      238 8 LONDON, Sun. Terminal rubber prices gained 0.50 to 1.02 pence per kilo In (airly active turnover on Friday afternoon, with April/ June at 57.8 pence. The official closing tone was steady. Total volume of 41$ lots Included 394 of 15 tonnes and a further two call options.
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    • Article
      Straits tin
      197 8 THE Straits tin price in Penang on Saturday was up $4 to $1,710 on an official offering down 32 tonnes to 185 tonnes. In LONDON on Friday afternoon tin gained £20 for cash and £32 for Three Months standard, while high grade rose by £22 to Ssl_ respectively.
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    • Article
      Produce exchange
      322 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY. Coconut Otl: Bulk $72 v, sellers, old drum $77* sellers, new drum $82* sellers Copra: Mixed (loose) UK/Cont <48 buyers Pepper- Muntok ASTA white f.o.b. 100% NLW $397 sellers, Sarawak white f ob 98% NLW $377* sellers.
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    • Article
      Palm oil
      79 8 I F. Rotterdam prices quoted In London on Friday In US dollars per ton Friday Pre*. Malaysia 5% ffa bulk Oct Sumatra 5% Aug Sept Oct Nov Dec Jan Nigerian 5% ffa bulk sterling per long ton ROTTERDAM: Sumatra Sept Zaire Belg francs per kilo unch 450 sir
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    • Article
      Lock icon Gold
      507 8 Source: Swiss Bank Corp, Zurich RETAIL prices per tael quoted by the Singapore Chinese Gold and Silver Merchant Association are $445 for 90 per cent gold, $405 for 22k gold and $500 for 24k gold. In LONDON on Friday, gold ended the day firmer at $144.25/75 an ounce compared
      Source: Swiss Bank Corp, Zurich  -  507 words
    • Article
      Coffee
      363 8 LONDON, Sun. Coffee extended early gains In erratic afternoon trading on Friday to close steady after prices added £15 to £82 per tonne In moderate turnover. March closed at £2,101 after selling up to £2,116 and as low as £2,005. Volume totalled 3,348 lots Including 39 options. Some modest
      363 words
    • Article
      Wheat
      54 8 CHICAGO, Sun. Wheat futures were little changed In early dealings on Friday and showed losses of to one cent a bushel after an hour of light trading. Wheat futures finished with losses oil to 2 K cents a bushel, closing at the day's lows and within a cent or
      54 words
    • Article
      Copper
      282 8 LONDON, Sun Copper wire bars on Friday afternoon showed gains of £10 for cash and £9.50 for Three Months. The market continued to move ahead on further end week covering which lifted Three Months up to £683 per tonne, although modest profit-taking on the kerb pared the position to
      282 words
    • Article
      Rice
      340 8 BANGKOK, Sun. The rice market was very quiet last week with exporters confining activity to loading against old commitments, trade sources said. Tanzania was calling a tender for 15,000 tonnes of 15 per cent white rice for September delivery, but the result would not be known until later, they
      340 words
    • Article
      Sugar
      260 8 LONDON, Sun. Futures closed at or near the days highs, £2 to £2.75 up. Sales totalled 1,789 lots. Market sources attributed the afternoon rally to fresh buying and short-covering touched off by the firmer trend In New York which followed news that the US Attorney General's Office had ruled
      260 words
    • Article
      Cocoa
      140 8 LONDON, Sun. Terminal cocoa was supported by modest weekend covering for much of Friday afternoon but fell back In final dealings to close barely steady at £5 up from Thursday nlght(July at £2,115H0 £13.50 down. Turnover totalled 1,598 lots Including 371 lots self traded. No further options were traded
      140 words
    • Article
      Soybeans
      74 8 CHICAGO, Sun. Soybean futures were mixed in early dealings on Friday with the August up the 30 cent a .bushel limit. September up 1M cent and other months down to three cents. There were 10,000 bushels of soybeans delivered In the morning. Soybean futures closed with the August locked
      74 words
    • Article
      Selling pressure takes its toll
      703 8 EXTERNAL selling pressure again took its toll on prices on the Singapore produce market last week. For the better part of the week cheaper offers were held out for most commodities with buyers hard to come by. Until the close sentiment ruled weak partly owing
      703 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        312 8 THE US dollar showed a firm tendency early last week against major Continental currencies, but on balance closed lower from the week's high. Its strength was boosted by a continued rise In US domestic Interest rates, which the Fed was apparently tightening through its reverse repurchase agreements. Fed funds
        312 words
      • Article
        Asian $ rates
        230 8 Asian rates RATES last week settled towards a slight easing tendency with a notable lack of good names taking interest and with no further sign of Federal Reserve intervention In the market. Overnight funds was traded under 8 per cent. M° n ?y supply fell $15 billion in Ml and
        230 words
      • Article
        Lock icon Discount market
        376 8 Source: Discount Co of Singapore Ltd THE overnight Interbank market was generally easy last week with the bulk of the funds being taken In at around the three per cent level. A similar position was reflected in the discount market where a fair volume of overnight funds was
        Source: Discount Co of Singapore Ltd  -  376 words
      • Article
        Lock icon Zurich
        588 8 Source: Swiss Bank Corp, Zurich. ZURICH, Sun. In the first half of last week, the dollar continued its upward movement (agfclnst the D-mark to as tauch as 2.3420, against the Swiss franc to as much as 2.4440), but weakened again In the second half. A strong tendency was displayed
        Source: Swiss Bank Corp, Zurich.  -  588 words
      • Article
        London
        287 8 LONDON, Sun. The dollar on Friday closed steady and little changed on Initial levels around 2.3277/87 marks after firming to around 2.3320 at one stage, dealers said. They said trading was subdued most of the day and the dollar advanced In thin trading after Citibank raised Its prime rate
        287 words
      • Article
        Short term money
        67 8 DAY to day funds on the local money market were traded at the 3% level throughout last week. Although, overnight rate was easy there was still substantial taking interest In the terms especially in the ones, which was partly attributed to the Increase In the discount rate
        67 words
      • Article
        New York
        234 8 NEW YORK, Sun. The dollar closed weaker against most currencies in fairly quiet trading on Friday. Dealers said there was a flurry of activity, and some strengthening, right after Citibank raised its prime rate to seven per cent from 6% per cent but the dollar soon began retreating
        234 words
      • Article
        Euro $ rates
        162 8 Euro rates LONDON, Sun. Period Eurodollar deposits closed on Friday a shade harder from previous easier levels In quiet afternoon trading, dealers said. Shortdates closed steady. The earlier softer tone In time deposits, when funds were coming on offer in the middle of quoted ranges, was reversed on news that
        162 words
      • Article
        Frankfurt
        32 8 FRANKFURT exchanges closing quotes on Aug 19 U8 2.3275/85 Can 2.1630/50 UK 4.046/064 nth 04.65/75 8wits 96.03/13 Italy 2.631/9 France 47.35/45 Japan 0.8715/25 Belg com 6.525/35 Belg fin 6.493/503 Norw 44.05/15
        32 words
      • Article
        Money market
        39 8 FOR the week ended Friday Aug 19, the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND 2%% to 5%% GENERAL FUNDS 3% to sVfc%. Movement of funds totalled $465 mlllioh.
        39 words
    • Article
      Silver
      175 8 LONDON, Sufi. Spot silver finished higher an Friday at 254/355 pence per ounce against Thursday night's closing 252/253 but was unchanged on Friday's 254.50 fix after a fairly quiet day's trading, dealers said. Three Months ended at 250/259 pence compared with Thursday's 250/257 and Friday's 250.50 fixing. In NEW
      175 words
    • Article
      Lead
      48 8 LONDON, Sun. Lead rose by £11 for cash and £10.50 for Three Months on Friday afternoon. The higher levels brought light profittaking, which pared values. Late covering on the kerb steadied the market and Three Months finished at the day's high of £325.50. Bales were 075 tonnes.
      48 words
    • Article
      Zinc
      48 8 LONDON, Sun. Zinc rose by £9.25 for cash and £8.50 for Three Months on Friday afternoon. Business was slow to start, but subsequent covering and Influential buying took Three Months up to £307 in the ring and to 310 on the late kerb. Sales were 900 tonnes.
      48 words
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      Page 8 Advertisements Column 1
      306 8 from Penguin IN PENGUINS Yukio Mishima firmly upheld the traditions of Japan's imperial past, which he believed were being slowly eroded by Western materialism. Disillusioned he astonished the world* in 1970 by committing hara-kiri or ritual suicide by disembowelment. One of his last works, Runaway Horses, is now published in
      306 words
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  • Article, Illustration
    Liverpool will find it tough to remain on top
    989 9  -  WITH BOTH MANCHESTER CLUBS AND VILLA ON THEIR HEELS By JAMES MOSSOP WITH the tang of newlymown grass hanging In the air at the start of a new season all men stand equal as they gaze towards the winter and the
    989 words
  • Article
    Lock icon Liverpool held despite Delglish's dash
    737 9 Reuter LONDON, Sun Stocky Scot Kenny Dalglish, undaunted by his record £440,000 ($1,848,000) price tag, needed only six minutes to pump home his first goal in the English soccer League yesterday. Dalglsh, Britain's costliest footballer since his transfer from Celtic to Liverpool earlier this month,
    Reuter  -  737 words
  • Article
    The Patient Lady triumphs
    90 9 LOS ANGELES, Sun. Patient Lady 111. a solidwing catamaran sailed by Duncan MacClaln of the United States, won the first race of the Little America's Cup series yesterday. Patient Lady 111 won after the Australian challenger Nicholas 11, skippered by Lindsay Cunningham, hit a floating object
    90 words
  • Article, Illustration
    The oldest warrior is playing a Final hand for young ones
    510 9  -  By JAMES LAWTON THERE It just one goal left for Brian Close after 29 yean in cricket. A* always, the great expanse of jaw will clamp around a piece of chewing gum and endlessly revolve. The bald head will
    510 words
  • Article, Illustration
    Seletar pull off golf coup of the year
    961 9 SELETAR Oolf Club pulled off the golf coup of the season when they beat Singapore Island Country Club, the defending chamflons, by four strokes in the remier League competition at the New Course yesterday. It was Seletar's first ever away win against
    961 words
  • Article, Illustration
    I want QPR in Europe — Sibley
    1028 9  - I want QPR in Europe Sibley By ALAN HOBY THE youngest manager In the First Division sat behind a large desk in his roomy, thick-carpeted office and said thoughtfully: "My life has been a series of ups and downs but in the past few years it has gone mostly up
    1,028 words
  • Article
    Water ski tourney
    155 9 THE Singapore Peats Sultan water ski tournament will be held next weekend (Aug. 27/28) at Sembawang under the auspice* of the Singapore Water Ski Federation. Competitive eventa will comprise slalom, ski jump and tricks. Scoring for the tricks will be in accordance with world water ski rules.
    155 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      126 9 y%> Tailored to measure but off the shelf! JEm choose from the largest stock of Status c,ub s m Singapore/Malaysia, with a wide variable of swing weights, length and flex of shafts as well as a whole range of grip types and thicknesses. And the sweet spot on the Status
      126 words
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      Page 9 Advertisements Column 2
      121 9 Ride in Style with the best in saddlery accessories I? u CHRISTY BEAUFORT CAPS WHIPS CALDENE JODPHURS BREECHES BARNSBY, ELDONIAN, SOUTH AMERICAN AUSTRALIAN SADDLES HARNESS HAWKINS ENGLISH LEATHER BOOTS ROMIKA RUBBER BOOTS, SADDLES ACCESSORIES FROM SYD HILL OF AUSTRALIA RADIOL HORSECARE PRODUCTS FLEXLAN, PENETRENE, REDUCINE, NEATSFOOT OIL. SYNTHETIC SADDLERY IRONS
      121 words
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  • Article
    Lock icon An end seems likely to British recovery
    479 10 UPI LONDON, Sun. Britain's economic recovery seems to have come to a halt. Government figures published last week showed that total national output declined between Apfll and June this year, after showing a small Increase In the previous months. The one per cent
    UPI  -  479 words
  • Article
    Lock icon UK industry shies away from banks
    165 10 Reuter LONDON, Sun. Bank lending to UK Industry remains flat with little sign that recent interest rate cuts have provided any incentive to increase borrowing, clearing bank sources Neither applications for new facilities nor use made of existing facilities have shown any significant growth
    Reuter  -  165 words
  • Article
    Lock icon Slight pickup for wool
    287 10 AFP LONDON, Sun. Business of the British wool Industry improved only very slightly In the first half of this year, Wool Textile Federation statistics show. Since March, the trend previously towards recovery has fluctuated. A backward movement In April was followed by an upswing In May
    AFP  -  287 words
  • Article
    Lock icon Leyland pay rises will be limited
    158 10 Reuter LONDON, Sun. Workers at British Leyland, the state-owned car giant, have been told they can only expect single-figure pay rises over the next 12 months. The company's chief executive, Mr. Alex Park, gave the warning In the company's weekly newspaper only days after
    Reuter  -  158 words
  • Article
    Lock icon Japanese dumping steel
    85 10 Reuter LONDON, Sun. The UK Department of Trade said It finds that a measure of dumping of non-alloy steel flats from Japan has taken place. But It adds the extent of the dumping does not appear to be sufficient to Justify Imposition of a sub- stantlve duty.
    Reuter  -  85 words
  • Article
    Lock icon India to import 14m tonnes of oil
    116 10 AFP NEW DELHI, Sun. India has made firm arrangements for Imports of crude oil to meet In'full a shortage, estimated at 14.1 million tonpes, during the financial year ending next March. The quantum of imports Is the same as last year's, official sources
    AFP  -  116 words
  • Article
    DAILY AIRCRAFT MOVEMENTS
    525 10 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKO SAS SK097 0640 CPH/THR/BKK CPA CX710 1000 HLP OIA QA980 1030 HLP THAI TQ423 1035 BKK SIA SQ211 1045 HLP OIA OA944 1055 PKU OIA GA908 1100 MES PAL PR501 1115 MNL RBA BI325 1155 BWN
    525 words
  • Article
    Diamond association in drive for more members
    149 10 THE Diaasseri Importer* A—ociatloa of 81n|ip«t is currently on u intensive i oci uitment drive for member* to make the organisation more representative of the iadustry hero. The aseociatioa'e secretary, Mr. I. Piaster said yeeterday thai invitations have boon sent out to some
    149 words
  • Article
    HSBC donates $100,000 to set up scholarships
    209 10 HONGKONG and Shanghai Banking Corporation has donated $100,000 to the Ministry of Education to set up a centenary scholarship fund to commenmorate Its 100 years of operation In Singapore. The fund, to be known as The Hongkong and Shanghai Bank Centenary Scholarships, will
    209 words
  • Article
    Lock icon NZ must borrow $24b for the next 8 years
    225 10 Reuter PARIS, Sun. Official borrowing of nearly NZ$lO billion (5523.8 billion) would be required to finance three Kr cent per annum growth New Zealand between 1978 and 1085, the OECD suggests In a medium-term survey of the country's payments adjustment problems.
    Reuter  -  225 words
  • Article
    Lock icon Spendable income of US workers down in July
    194 10 Reuter WABHINOTON, Sun. Real spendable earnings of US workers fell 0.1 per cent In July after seasonal adSustment, compared with a .5 per cent gain in June, the Labour Department said. But earnings remained 3.5 per cent ahead of a year earlier.
    Reuter  -  194 words
  • Article
    Carter's sugar plan illegal
    159 10 WASHINGTON, Sun. The Attorney General's Office ruled that the Carter Administration's sugar price support programme Is Tne opinion of Deputy Attorney General Peter Flaherty backs up the findings of Comptroller General Elmer Staats, who said the programme was probably illegal. Under current legislation, support payments to
    159 words
  • Article
    MRELB will soon issue export certs
    583 10 KUALA LUMPUR, Bun. The Malaysian Rubber Exchange and Licensing Board Is to take over the Issuing and endorsing of certificates of origin for rubber exports from January next year a function exercised by the various chambers of commerce for more than 50 years. This
    583 words
  • Article
    Lock icon CFTC to meet on requests
    55 10 Reuter WASHINGTON, Sun. The Commodity Futures Trading Commission (CFTC) provisionally set a meeting on Sept 20 for discussion of three new contract requests. They are the New York Commodity Exchange's (Comex) request for designation as a new zinc futures market,, for the Chicago Mercantile Exchange
    Reuter  -  55 words
  • Article
    Lock icon Vance's trip will see if time is right for China ties
    286 10 AP TOKYO, Sun. Five and a half years after the United States first broke the Ice, Secretary of State Cyprus Vance Is headed towards China to see If conditions are right for establishing full diplomatic relations with the communist
    AP  -  286 words
  • Article
    Lock icon Fed raises rate target
    90 10 Reuter WASHINGTON, Sun. The Federal Reserve Open Market Committee raised Its target for the federal funds rate to an upper limit of six per cent on Aug 4 as a result of sharp growth In the money supply, minutes of the committee's proceedings showed. The minutes
    Reuter  -  90 words
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      Page 10 Advertisements Column 1
      1681 10 Australian Consolidated Industries Limited Registered Office: 550 Bourke Street, Melbourne, Victoria. Highlights from 1977 Annual Report and from the Address to Shareholders by the Chaimjan, Highlights of the year Group Sales 606, Profit Group trading profit 51 Abnormal items of loss Income tax expense 22 Net trading profit for the
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