The Business Times, 25 August 1977
1977-08-25
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The Business Times
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Title Section10 1977-08-25 1 BUSINESS TIMES M.C.(P) 300/1/77 THURSDAY, AUGUST 25, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article64 1977-08-25 1 Reuter CANBERRA, Wed. Australian Transport Minister Peter Nixon said here today he hoped British Airline operator Freddie Laker would submit an application to his department to run cheap flights between Europe and Australia. Mr. Laker has proposed a £350 (551,490) return flight between Australia and Europe whichReuter - 64 words
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Article47 1977-08-25 1 UPI w LONDON, Wed. British Airways cancelled six flights to the United States and Canada today plus 62 short-range hops in a continuing snarl of Britain's air traffic. Officials at London's two main airports said traffic was flowing "fairly smoothly" up to midafternoon. UPI.UPI - 47 words
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Article57 1977-08-25 1 AP SEATTLE, Wed. Car pooling may be tried In Japan as a result of a conference between US and Japanese municipal officials. "The first time I've heard of car pooling has been at this conference," said Mr. Klyohiko Anamizu, president of the Yokohama Chamber of Commerce.AP - 57 words
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Article62 1977-08-25 1 Reuter JAKARTA, Wed. Indonesia will Increase crude oil exports from an expected 550 million barrels in fiscal 1977-78 to 610 million barrels in 1978-79, a Mining Ministry spokesman said today. The planned Increase was In line with the government's policy to raise state revenue from oil. He saidReuter - 62 words
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Article69 1977-08-25 1 AFP MANILA, Wed. A ranking Defence Department official has warned that curfew restrictions may be re-imposed in the Philippines should the situation demand, such as a sharp rise in crime. Defence Undersecretary Carmelo Barbero said in a Lion's Club speech here yesterday the lifting of the five-year-old martialAFP - 69 words
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Article72 1977-08-25 1 Reuter KUALA LUMPUR, Wed. The state-owned Tourist Development Corporation (TDC) has Invested Ms 2 million in accommodation facilities on Malaysia's East Coast in anticipation of a tourist boom, TDC director-general Baharuddin Musa said today. Mr. Baharuddin said one of the TDC's four projects was the 300-room Club Mediterranee,Reuter - 72 words
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Article74 1977-08-25 1 UPI NEW YORK, Wed. Stocks were lower early today in moderately active trading. Analysts were disappointed that yesterday's blue-chip bargain-hunting rally collapsed during the afternoon, with glamours coming under heavy selling attack. The selling trend carried into this session. The Dow Jones industrial average, which lost 1.73 pointsUPI - 74 words
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Chief Price Changes
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Article, Illustration170 1977-08-25 1 WITH tin shares leading the way, the Singapore stock market staged a mild rally yesterday. The Straits Times Tin index rose four points to 132.85, the highest this year. Reflecting the better trend, the Business Times index rose 4.22 points to 410.77 while the Straits Times Industrial170 words
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Article113 1977-08-25 1 Rises Most active Kllllnghall Hong Kong Kramat Berjuntal Aokam Sg Besl Kamuntlng A. Hltam 17.50 7 00 5.20 7.70 4.06 +4.00 +2.90 .40 .40 .30 Olympta 607,000 Tg&nu Dev 513,000 O. Ceramics 391,000 Sim Llm 364,000 Total Turnover: 4.68 M 3.90 .24 Total Value: MS8.77M 2 30113 words
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Article1492 1977-08-25 1 QUEK PECK LIM - JAPANESE IN SINGAPORE By QUEK PECK LIM THE Japanese presence In Singapore Is large, growing and increasingly competitive In almost all sectors of the economy. As Singapore expanded, so did the Japanese community in the Republic. It has nearly trebled in size (to 4,000 from1,492 words
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Article509 1977-08-25 1 KUALA LUMPUR, Wed. Senior Asean officials will meet In Manila on Friday and Saturday, their first since the second summit earlier this month, to prepare for the AseanUnited States dialogue. The director general of the Malaysian Asean Secretariat, Datuk All Abdullah, will leave here509 words
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Article170 1977-08-25 1 HONGKONG, Wed. The acting Director of Trade, Mr. Peter Tsao, today denied speculation that Hongkong was planning to make a secret deal with the European Economic Community ahead of their negotiations on a new textile agreement. Commenting on an editorial In the Journal Textile Asia, Mr. Tsao170 words
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189 1977-08-25 1 DEVELOPMENT Bank of Singapore, together with Morgan Guaranty Trust of New York and the Bank of Tokyo, ii looking into ways to package the guarantee facility for the $400 million suppliers' credit that will be extended to Petrochemical Corporation of Singapore (PCS). The189 words
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Article109 1977-08-25 1 KUALA LUMPUR, Wed. Malaysia has asked Australia's Queensland Sugar Board to resume talks on revision of their long-term sugar contract, which stalled earlier this year, government officials said. Under the six-year-old contract, signed in 1974, Malaysia undertook to buy a total of l.fi million tonnes at109 words
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420 1977-08-25 1 THE Monetary Authority of Singapore yesterday withdrew its overnight treasury bill facility to discount houses putting the local money lnter-bank market into a more liquid position than it has ever been in past weeks. Predictably rates fell from the day's opening of 2V» per420 words
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Article49 1977-08-25 1 Reuter HONGKONG, Wed. China's Industrial output last month went up 22.4 per cent compared with the corresponding month of 1976, the New China News Agency reported today. The report said the gross Industrial output in 28 of the 29 provinces and regions set new records last month.Reuter - 49 words
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140 1977-08-25 1 AFP MANILA, Wed. President Marcos and Australian Governor General John Kerr today voiced optimism that trade barriers between the Philippines and Australia- would ultimately be removed to their mutual benefit. They made the observation when Mr. Marcos received the visiting Governor General and hisAFP - 140 words
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Page 1 Advertisements
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Advertisement44 1977-08-25 1 Colour TV is simply great Overseas News/ TV Oversees Stocks P7 A Radio P2 Commodities PS Oversees News/ Trias »ert ft ComOoeewerds P3 nwmh'srtsas PI Locel Co News P4 Features PIQ leternstioaal Co News PS Locel ft Oversees Locel Stocks PS News Pll, 1244 words
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Advertisement86 1977-08-25 1 BANKING AND FINANCE. CALCULATORS ANDSHARP. They're synonymous Witt -1 SHAPP alculat I simply matters ot quicnlv the, SHARP because SHARP CAU iqht tit il ATQPS soer d!eu 01 si 0 E D I *> MM CS-4251 14 digits pc«U> 2 mamory ragisMre lor continuing calculations Constant and add modaaaiacux Oacunal86 words
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Advertisement293 1977-08-25 1 WHISKY 100% SCOTCH WHISKIES blended and bottled in Scotland under Government Supervision Imported by Cold Storage Which bank delivers you a whole world of financial knowledge? We do. Bank of America. When it comes to finance, we are there our money centers and branches around the globe keep us in293 words
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OVERSEAS
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676 1977-08-25 2 Washington Star UPI WASHINGTON, Wed. The Interior Department has scheduled five new sales of Atlantic sites for commercial oil and gas drilling including two more off the resort areas of Maryland, Virginia, Delaware and New Jersey between 1979 and 1981. The revised offshore leasingWashington Star; UPI - 676 words
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Article139 1977-08-25 2 Reuter OTTAWA, Wed. The United State* and Canada yesterday moved closer to approval of a proposed US$lO billion (5524.5 billion) Alaskan natural gas pipeline, the chief Canadian negotiator aaid here. Six hours of extensive negotiation* between officials of the two countries were held yesterday in strictestReuter - 139 words
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186 1977-08-25 2 AFP STOCKHOLM, Wed. The Soviet Union is experimenting with a new technique for producing energy, rather than with a "death ray", In work going on at Semlpalatlnsk In Central Asia, a group of Swedish experts said yesterday. The experts met In Stockholm at theAFP - 186 words
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397 1977-08-25 2 AFP LONDON, Wed. The latest Issue of Jane's Fighting Ships, published here today, highlights the growing myth of the Soviet navy and the Western countries' alleged In-* dulgence In "endles* arguments" on military spending. In the foreword to the 1977/78 edition,AFP - 397 words
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Article51 1977-08-25 2 Reuter OTTAWA, Wed. Canada's seasonally adjusted index of industrial production (base 1970) rose 0.3 per cent in June to 125.1 from a revised 124.7 in May, Statistics Canada said. The agency said the index stood at 119.9 a year ago. The May figure was revised down fromReuter - 51 words
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841 1977-08-25 2 AP LONDON, Wed. Although supermarket shelves are still stocked with costly roasts and expensive Instant coffees, the first signs of lower prices are beginning to appear. v A top executive team of the International Coffee Organisation (ICO) headed by executive director Alexandre Fontana BeltraoAP - 841 words
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811 1977-08-25 2 NYT NEW YORK, Wed. The Carter Administration la taking its first steps towards using the leverage supplied by billions of dollars of federal spending to encourage labourmanagement cooperation In fighting Inflation and stabilising Jobs. The initial focus is the depressed, construction Industry, andNYT - 811 words
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216 1977-08-25 2 AFP LONDON, Wed. World production of primary aluminium In July was maintained at its recent high level, the latest figures from the International Primary Aluminium Institute revealed yesterday, with tha seven-month cumulative total showing an Increase of 12.5 per cent over the corresponding periodAFP - 216 words
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116 1977-08-25 2 Reuter LONDON, Wed. The Financial Times was published today for the first time since Aug 4 following the end of a dispute Involving compositors. With an apology to readers, the newspaper said the stoppage, the longest of any British national newspaper since 1955, endedReuter - 116 words
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Article88 1977-08-25 2 Reuter LONDON, Wed. OH production from the UK sector of the North Sea fell In July to 3.17 million tonnes from S.S million In June, the Energy Department sakl. The fall was due mainly to the shutdown of the Brent field and the reduction In FortiesReuter - 88 words
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Article55 1977-08-25 2 AFP BANGKOK, Wed. A new tourism body bringing together businessmen and government representatives has been set up to promote the country's major foreign exchange earning Industry. TOT director general Col Owel Somechal Hlranyaaklt was appointed to head the new committee which Is scheduled to meet for theAFP - 55 words
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565 1977-08-25 3 Reuter GENEVA, Wed. Finance Ministers from more than 100 countries will discuss the growing external debts of Third World states at a special meeting here next January, a senior United NaUons official said here. Mr. O. Corea, secretarygeneral of the UN ConferenceReuter - 565 words
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320 1977-08-25 3 AP CANBERRA, Wed. The government gave its approval today to Australia's largest investment project ever, a US$3 billion (557.35 billion) development of vast gas deposits off the north-west coast of Australia. The announcement by Deputy Prime Minister Douglas Anthony opens the way for an estimatedAP - 320 words
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300 1977-08-25 3 THE once-prond British pound that not so long uo oiled the wheel* of world trade, is shrinking ia mora wajr* thaa one. The Bank of England has just disclosed that aew pound note* to bo iseued early aezt year will ho300 words
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Article81 1977-08-25 3 Reuter WASHINGTON, Wed. The House banking subcommittee hearings on the banking matters raised by the Comptroller of the Currency's investigation of Budget Director Bert Lance will start on Sept 8, subcommittee chairman Fernand St. Germain said. Mr. St. Germain said the subcommittee will examine a numberReuter - 81 words
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Article87 1977-08-25 3 Reuter WASHINGTON, Wed. A US auditing agency yesterday called for an overhaul of Defence Department accounting to recover millions of dollars gained from military sales abroad. The General Accounting Office said the US loses millions of dollars by not recovering the full costs of crating andReuter - 87 words
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Article93 1977-08-25 3 Reuter WASHINGTON, Wed. The US Treasury, said It will sell US$2.3 billion (555.5 billion) of threemonth bills and $3.3 billion of six-month bills by auction on Monday to redeem an equal amount of maturing securities. The Treasury said its two-year note attracted an average effective yieldReuter - 93 words
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Article82 1977-08-25 3 Mexico City the largest? AFP GENEVA, Wed. The largest city in the world by the year 2000 could be Mexico City, with 32 million Inhabitants, according to a survey published here yesterday by the International Labour Organisation. The second largest city could be Sao Paulo with 26 million inhabitants. TheAFP - 82 words
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Article414 1977-08-25 3 Reuter CHICAGO, Wed. A taxpayers' revolt Is In progress in Chicago with hundreds of citizens refusing to pay increased property taxes. While local authorities say taxes have been Increased by an average of less than 20 per cent, some taxpayers have been complaining of increasesReuter - 414 words
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Article262 1977-08-25 3 AP WASHINGTON, Wed. The Canadian Government's defence of Gulf Oil Corporation's participation in a uranium price-fixing cartel falls to take Gulf off the hook for Its actions, the chairman of a US House of Representatives Investigating panel said yesterday. Representative John Moss of California aaklAP - 262 words
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489 1977-08-25 3 Reuter NEW YORK, Wed. Morgan Guaranty Trust economists said they expect sterling to remain firm in the near term, but see uncertainty mounting over the longer-term outlook. writing in the bank's latest world financial markets report, the economists see current account balances, buoyed bvReuter - 489 words
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311 1977-08-25 3 Reuter PARIS, Wed. The French Oovernment opposes a general reflation of the economy In the near future but has not ruled out the possibility of presenting the 1978 budget In deficit, Informed sources said. The budget decision was taken at a restricted CabinetReuter - 311 words
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170 1977-08-25 3 AP CANBERRA. Wed. Australian Deputy Prime Minister and Overseas Trade Minister Doug Anthony said today it would be tragic if disputed sugar contracts between Australia and Japan had to be taken to court for settlement. Mr. Anthony told the House of RepresentativesAP - 170 words
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Article96 1977-08-25 3 AP WELLINGTON, Wed. Against strong competition from European and other suppliers, New Zealand has won a contract to supply 3,200 tonnes of milk powder and milk fat to Iran for Its new scheme to supply about five million schoolchildren. The sale was announced today byAP - 96 words
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Article28 1977-08-25 3 Reuter CARACAS, Wed. Venezuela's gross domestic product grew 7.4 per cent In real terms last year, to U5530.95 billion (8575.8 billion), the Central Bank reported. Reuter.Reuter - 28 words
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142 1977-08-25 3 Reuter LONDON, Wed. The Bank of England will shortly raise commercial banks' foreign currency dealing limits, allowing them more flexibility to buy and sell forward currency and hold open positions overnight, informed banking sources said. The Bank of England declined to comment on theReuter - 142 words
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Article397 1977-08-25 3 AFP LONDON, Wed. The Moscow Narodny Bank, the Soviet bank In London, sakl In Its new quarterly bulletin that the Administration of President Carter had revealed Its inexperience In world finance In underestimating reaction to Its policy of non-intervention on the value of the dollar.AFP - 397 words
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Article89 1977-08-25 3 UPT LONDON, Wed. Reacting to the latest UK unemployment figures, Mr. David Basnett, general secretary of the General and Municipal Workers Union, said that two million people could be out of work by the middle of next year unless the government did something drastic. HeUPT - 89 words
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Page 2 Advertisements
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Advertisement112 1977-08-25 2 X") SINC DU SINGAPORE mess SINGAPORE M. W pwCE $300 STI9 rfWf R V -v Ss°» iPV co*mu wC t,oh# I c******** ~ss~«•SfvSS"."*"* pnaPCATV u^ T S«^ HIGHLIGHTS OF OUR AUGUST ISSUE: PLASTICS BOUNCE BACK The plastics industry is surging ahead of past growth rates, after receiving a slight jolt112 words
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Page 2 Miscellaneous
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Miscellaneous319 1977-08-25 2 WEATHER report for 24 hour* prior to 7.30 p.m. on Aug 24 at Singapore airport. Maximum Temperature 29.3° C Associated Humidity 79 Minimum Temperature 25.6° C Associated Humidity 94 Hours of Sunshine 2.70 Rainfall in Millimetres 4.5 Total Rainfall for the Month 144.4 Total Rainy Days for the Month 12319 words
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Page 3 Advertisements
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Advertisement80 1977-08-25 3 The 565 is the smolest in (he gent s oirstyte range. Smol enough to carry os hond luggage. No-dme wosdng at airport checkouts. Saves you time at the airport. Big enough to (it your Jocket/suit. 5 pairs of shirts and pants and other necessities, smortJy Ideal for business executives 680 words
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Advertisement58 1977-08-25 3 <•> COPPER TUBE PIPE For all your requirements in: Air-conditioning Heat-exchanging Plumbing etc... m MERITS: 1. Excellent quality! 2. Available even in small quantity 3. Short delivery terms I 4. Stabilized supply I SINGAPORE KOBE PTE. LTD. a rubtkliary of KOBE STEEL tn Japan NO. 3, 6TH LOKYANG ROAD, JURONG58 words
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Page 3 Miscellaneous
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Miscellaneous659 1977-08-25 3 TWO-IN-ONE CROSSWORD 22 Mode of writing many a poem (4) Shone lna 24 Shone Inside just for a Sec! (3) 25 Race patriarch? (7) 26 It spreads the scent of flowers (5) 27 Interesting dog with a tall of ten! (5) 28 Where to get plastered? (5) 29 Out of659 words
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820 1977-08-25 4 DESPITE a reduction In its production of tin concentrates, pre-tax trading profit at Southern Kinta Consolidated has risen by an Impressive 91 per cent to £2.37 million for the year ended March 31, 1977. And If the exceptional gain of £98,701 (loss, £60,593) is820 words
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Article340 1977-08-25 4 Current Ex Date Total for ToUlfor payment Date pajyble 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 Pen. 8% Aug 11 Aug 30 15% 13% Pan Electric 20% July 26 Aug 31340 words
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270 1977-08-25 4 AS EXPECTED, Dunlop Malaysian Industries has performed fairly well In the first six months of 1977 better than the previous corresponding period, though not as well as the whole of 1976. Unaudited group pre-tax profit rose nearly 18 per cent to $12.5 million. Ttils compares270 words
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Article289 1977-08-25 4 LIEN HOE Industries has denied deliberately withholding Information on Its recent acquisition of 1.09 million shares In See Sen Chemical. Clarifying Its position, the company said It had replied by registered post on Aug 10 to the KLBE queries made on July 14, but due289 words
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LATEST RESULTS
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60 1977-08-25 4 Unaudited net profit M 816.71 million (12.34 million, for the year ended June 30, 1977. A second Interim dividend of 125 eents net (6.3 pence), will be paid on Oct 3, making total 250 cents net (23 pence). Output of tin concentrates 68,327 plculs (70,749).60 words
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Article49 1977-08-25 4 Unaudited pre-tax profit before extraordinary Items 83.7 million (82-24 million) for the six months ended June 20, 1977. Total sales of rubber and oil palm products 814.44 million (811.2 million). The company will pay an Interim dividend of eight per cent (seven per cent) on Oct 3.49 words
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Article47 1977-08-25 4 Unaudited pre-tax profit of 8262,000 8221,000) for the six months ended June 31, 1977. Sales totalled 81.14 million (81.34 million) and average selling price of rubber 82.12 per kg. (81.82). The company will pay an interim dividend of 10 per cent (same) on Oct 3.47 words
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Article53 1977-08-25 4 Pre-tax profit before extraordinary Items totalled $12.8 million <5.08 million) In the six months ended June 1977. Sales of rubber, oil palm and refined palm oil products amounted to 839.6 million $21.04 million). The company has proposed an Interim dividend of 10 per cent (7 per cent), payable53 words
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Article1379 1977-08-25 4 On Aug 23 TRADING on the Chicago Board Options Exchange came to 94,939 contracts on Tuesday compared with 94,555 contracts on Monday- OPTION OCT JAN APL STOCK Alcoa 9 4 UNTRD a 9/9 Alcoa to V4 1 3/9 2 1/2 44 9/9 Alcoa ao 1/10 1/0 UNTRD1,379 words
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Article483 1977-08-25 4 TRONOH Mines appears all set for bumper earnings for the current year ending December, 1977. At the half-way mark, the group registered a solid 296.5 per cent rise In pre-tax profit to MBlO.BB million which Is Just 14.5 per cent short of the483 words
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507 1977-08-25 4 KUALA LUMPUR, Wed. The management rearrangement of the London Tin and Charter group of companies took a further step forward with the appointment of the full 12member board of directors of Pernas Charter Management Sdn Bhd. The company was Incorporated on April507 words
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Article80 1977-08-25 4 SECURA Singapore Ltd a subsidiary of Metal Box Singapore Ltd, has appointed Mr. Kbiw Siok Chye to Its board of directors with effect from Aug. 1. Mr. Khaw is concurrently the manager of 'the security printing division of Metal Box Malaysia Berhad, an associate company of Secura80 words
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COMPANY MEETINGS
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Article21 1977-08-25 4 THE following company meetings are due: Aug 25, 12 noon Baneunan (MIDF, 117, Jalan Ampang, Kuala Lumpur.21 words
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17 1977-08-25 4 Aug 29, 10.30 a.m. at 9th Floor, Wlsma Central, Jalan Ampang, Kuala Lumpur.17 words
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Article21 1977-08-25 4 Aug 31 at 11.30 a.m. at the Board Room, Second Floor, DBS Building, Shenton Way, Singapore 1.21 words
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Article20 1977-08-25 4 Sept 3 at 0.30 a.m. at the Company's Office at Shah Alam Industrial Estate, Sungel Renggam, Selangor.20 words
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Article19 1977-08-25 4 Sept. 17 at 15th Floor, Rooms 1511/ 1512, Shlng Kwan House, 4 Shenton Way, Singapore 1.19 words
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Article11 1977-08-25 4 Sept. 19 at the Registered Office, Batu Tlga, Selangor.11 words
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Article22 1977-08-25 4 Sept. 29, 11a.m. at the Negara Room, Second Floor, Lower Lobby, Kuala Lumpur Hilton, Jalan Sultan Ismail, Kuala Lumpur.22 words
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336 1977-08-25 4 METRO HOLDINGS, whose shares have been the subject of heavy buying In the stock market In the last two days, was asked by the Stock Exchange of Singapore If It knew of any reason for the bullish build up. On Tuesday the share began336 words
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405 1977-08-25 4 NYT NEW YORK, Wed. For the badly mauled trust and pension equity accounts of leading banks and Insurance companies, recovery from the bear market that began In 1970 has been slow and hard. Despite good results In pooled-equity accounts in theNYT - 405 words
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Advertisement403 1977-08-25 4 "1 "i -q j ■1 -1 RW Vli«9| 9 .1 85 X JUUiUi as «-i as ra igV "III 1 THE GREAT BOOKS OF WESTERN CIVILIZATION These are the books that had to burn. For within the GREAT BOOKS are volumes that hold the ideas and thinking that challenge the403 words
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Article97 1977-08-25 5 NORTH AMERICAN COMPANIES THE Bank of Montreal plans to raise about U5567.6 million by way of a one-for-elght rights issue at $14.25 per share, the stock exchange said. Shares will not be offered to shareholders in the US because the shares will not be registered97 words
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Article75 1977-08-25 5 Reuter ASHLAND OIL INC said It asked Commonwealth Oil Refining Co inc and certain other parties to extend to Oct 1 the Sept 1 deadline for its option to purchase Corco preferred stock. Ashland said It Is seeking the extension because of a similar requestReuter - 75 words
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Article44 1977-08-25 5 A SYNDICATE headed by Salomon Brothers said It priced an offering of 2.75 million shares of manufacturers Hanover Corp common stock at US$37 3/8 a share, the closing price for the outstanding shares In trading on Tuesday on the New York Stock Exchange.44 words
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254 1977-08-25 5 Reuter FIRESTONE TIRE and Rubber Co said Its third quarter earnings came to US 39 cents per share, up from 38 cents a year earlier, on sales of $1.1 billion, up from $994.1 million. The year-earlier quarter net includes gain of $4.9 million or nineReuter - 254 words
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Article207 1977-08-25 5 Reuter J. RAY MCDERMOTT and Co Inc said it Increased the price it Is offering to pay for 4.3 million shares of common stock of Babcock and Wilcox to U5562.50 per share cash from $60. McDermott said its amended offer is still contingent on 2.5 millionReuter - 207 words
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84 1977-08-25 5 UK COMPANIES Reuter THE UK Post Office said It placed contracts worth £20 million with UK telecommunications manufacturers as part of its £100 million system "X" project to introduce a new generation of telephone exchange equipment. The contracts, for the design of trunk, tandem andReuter - 84 words
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Article185 1977-08-25 5 Reuter OCEAN TRANSPORT and Trading, the parent company of Straits Steamship, reported sharply higher earnings in the six months ended June, 1977. Pre-tax profit rose 71 per cent to £26.14 million from £15.29 million while sales advanced from £182.6 million to £241.5 million, an Increase ofReuter - 185 words
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Article27 1977-08-25 5 Reuter THE proposed takeover of Gallenkamp and Co Ltd by Flsons Ltd will not be referred to the Monopolies Commission, prices secretary Roy Hattersley said. Reuter.Reuter - 27 words
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Article140 1977-08-25 5 Reuter GENERAL MOTORS CORP said the price of its average 1978 model car will rise at wholesale by US$l95 or 4.8 per cent. The increase is less than the tentative six per cent Increase announced in July for new models. OM said list prices willReuter - 140 words
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Article82 1977-08-25 5 Reuter THE New York Stock Exchange said It has reached agreement with the Pacific Stock Exchange to create an electronic fink between their trading floors. The NYSE said the link will accommodate trades between the two exchanges and will allow the Interchange of market information beforeReuter - 82 words
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Article126 1977-08-25 5 LONDON, Wed. De Beers Consolidated Mines has managed nearly to double its pre-tax profit In the first six months ended June 1977. Unaudited group earnings come to 453.54 million rand compared with 250.8 million rand last time. After tax the figures stand at 291.35 million rand126 words
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1108 1977-08-25 5 Gulf Western's 8-year campaign finally pays off NYT WESTBURY (New York), Wed. Gulf and Western Industries on Friday completed Its eight-year campaign to absorb the historic Madison Square Garden Holdings after a shareholders' meeting at Roosevelt Raceway. The 31 1 margin In the vote for merger was a foregone conclusionNYT - 1,108 words
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Article143 1977-08-25 5 ASIAN COMPANIES Reuter HONGKONG, Wed. The Rubber Trust Ltd. has increased Its unaudited net profit for the first six months ended March 1977 from HKS2.4 million to $3.23 million. The Interim dividend has been more than doubled to seven cents from three cents last time.Reuter - 143 words
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Article57 1977-08-25 5 Reuter TOKYO, Wed. Indonesia has signed a 10.13 billion yen loan with the Japanese government's Overseas Economic Cooperation Fund for Its multi-purpose dam construction project In Wonoglrl, Java, the fund said. The loan is repayable over 30 years, with a 10-year grace period, at an annual interest rateReuter - 57 words
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Article150 1977-08-25 5 Reuter TOKYO, Wed. Nippon Steel Corp said it has reached agreement with malor Japanese steel users, including car firms and shipyards, to raise steel prices by an average seven per cent, retroactive from June/ July shipments. The agreement emerged from three-month long negotiations, It said.Reuter - 150 words
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Article69 1977-08-25 5 Reuter SYDNEY, Wed. CSR Ltd reported It purchased 95,000 All nominal shares In AAR Ltd yesterday at 51.75 each equal to Its proposed bid price. The purchase lifts CSR's stake In AAR t0'3.21 million shares, equal to 12.4 per cent of AAR's 25.85 million share issuedReuter - 69 words
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Article78 1977-08-25 5 Reuter HONGKONG, Wed. In-ter-exchange dealing between Hongkong's four stock exchange* will be permitted from today, a spokesman for the Hongkong Stock Exchange said. To facilitate trading between the Hongkong and Kam Ngan Exchanges, closed circuit television screens from each exchange have been installed on the other's floor, whileReuter - 78 words
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Article82 1977-08-25 5 Reuter TOKYO, Wed. Akal i Electric Co Ltd said It 1 plans to market home-use I video tape recorders (VTR) 1 in Europe through Its 1 network from next January at a monthly rate of 1,000 1 units. I Akal said it has arranged with the VictorReuter - 82 words
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Article102 1977-08-25 5 AFP TOKYO. Wed. Japan produced 728,559 fourwheeled motor vehicles last month, the Japan Automobile Manufacturers Association announced today. The figure was up 1.4 per cent over a year earlier but It represented a drop of 3.5 per cent from June. Passenger cars totalled about 474.000, up 2.2AFP - 102 words
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Article79 1977-08-25 5 Reuter TOKYO, Wed. Mitsubishi Motor Corp said It plans to open its first European office in October to Increase exports to West Europe and Scandinavia. The office will be In Amsterdam, It said, adding, It also plans to look into the possibility of buying parts and accessoriesReuter - 79 words
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Article66 1977-08-25 5 SYDNEY, Wed. Woolworths' unaudited consolidated net operating profit Jumped to A 510.7 million from $6.72 million In the half year ended July 1977. Sales came to $689.43 million compared with $565.55 million last time. The profit Is before extraordinary gains of $294,000, down from $503,000 last time, and66 words
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Article53 1977-08-25 5 Reuter TAIPEH, Wed. Taiwan has decided to set up a development bank to help domestic industrial development, the Central News Agency reported today. The agency, quoting Economic Minister Y.S. Sun, said the bank would be one of "the Important measures the government Is taking vigorously to support domesticReuter - 53 words
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725 1977-08-25 5 NYT NEW YORK, Wed. Where is that selling climax Wall Street Is looking for? According to a widely accepted theory, the stock market cannot recover Its bearings and begin a major advance until there Is heavy selling and rapidly declining prices capped by a dramaticNYT - 725 words
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Article90 1977-08-25 5 rßonds Reuter TORONTO, Wed. An Ontario government Treasury Department spokesman declined to comment on bond market reports the province will file for a US$2OO million debenture issue later this week for public offering by late September. Market sources said the province Is expected to file with theReuter - 90 words
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Article82 1977-08-25 5 Reuter PARIS, Wed. Leuml International Investment NV, subsidiary of Bank Leuml Le-Israel BM. Is floating two note Issues totalling US$3O million on the international capital market. Bank, Leuml LeIsrael (France) SA said. It is floating $10 million of seven per cent seven-year notes convertible into BankReuter - 82 words
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Article47 1977-08-25 5 Reuter ZURICH, Wed. Swiss power company Rhonewerke AO will float a 60 million franc, 4.5 per cent, 14-year loan at par from Aug 30 to Sept. 5, Schweizerische BankGesellschaft said as issuing consortium leader. Proceeds will be used to consolidate medium term liabilities, it said. ReuterReuter - 47 words
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Article33 1977-08-25 5 Reuter ZURICH. Wed. The 80 million franc 5 1/4 per cent 15-year loan floated at 99 per cent on the Swiss capital market by Finland was considerably oversubscribed, Credit Suisse said.Reuter - 33 words
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Page 5 Advertisements
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Advertisement155 1977-08-25 5 sm m n JL ME IRE PROFESSIONALS OUT OF CONTROL? Tinker, tailor, soldier, sailor, rich man Doctors, architects, engineers and professors too NEW DIRECTIONS puts them all under the microscope. WOIIEI YOB KNOW lISHIH FROM A TZU? NEW DIRECTIONS takes an illuminating look at the intricacies of translating Chinese poetry155 words
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Article2405 1977-08-25 6 Gr'i Gr*s Nat 1*77 Last dlv Dhr yu P/B V«l Day High Low CmHV Sale +«r- e'w C86»> High Law 8ECTION ONE INDUSTRIALS 154 136 Acma 140 -3 12.0N 1.8 8.5 6.5 1 140 140 204 172 Alcom 172 10.0 0.5 5.8 27.7 109 58 Allied Choc2,405 words
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Article1438 1977-08-25 6 ;HD lad offer prion officially Dated M buMki and reported to the oranmonjwtEr"l with Um number of Am traded *hown in bracket* In lot* of 1000 unite JSJT oUwn^ t AH Time SettWmtnt Contract* art quoted after the word "Sett." Bto Board <leali (in lot* of 0,0001,438 words
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Article1809 1977-08-25 6 810 and utter prices officially Usted and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets In lots of 1.000 units unless otherwise specified INDUSTRIALS Ajlnamota (196B). A team (1938) A. Ch»e (1) 0 99. (2)1,809 words
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Article49 1977-08-25 6 STOKING print of tlx Mack optima officially liatad oa the Stack Eackahg* of Siagapara, tk« poriedo, bid aadeflar prieao aad bminoat dona yootorday, with tka aaaibar of optioai traded lhawa la bracket* Incbcape (March $2.40) (0.20B). U. 0.8. (March $3.20) (0.205) (5) 0.20. Wearnea (March $3.00) (0.15B).49 words
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Article137 1977-08-25 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Milmil' prtoM for A ug 28) (Cumat m rieas) The Commerce.... 1.73 1.83 INCOME BOND 1.87 1.13 The Saving Fund 1.02 1.08 S'pore Prog Fund 0.88 0.81 MARA BUMIPUTRA FUND 8 pore Security (Maaagsrs' price* tar Aug 38) Pund 1.84 1.83M1 First137 words
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Article186 1977-08-25 6 B OT 8 1/2% 1981 (100,000) (103*B 103*8) BO T 8 1/2* 1981 (50,000) (1) 103* B O T 7 5/8% 1984 (100,000) (998 99*8) B O T 7 8/8% 1984 20.000) (1) 99% L T C B J 1982 (100.000) (98 *B 998) Credit Lyonnais Floating 1983186 words
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Article143 1977-08-25 6 Rep Spore D Mark 7% 1982 (100,000) (1018 101*8) Rep Bpore 6 1/2% 1983 (100,000) (99*8 100*8) Rep Bpore 7 3/4% 1987 (100,000) (100*B 1018) 5 1/4% 15/7/78 (250.000) (101.208 101.458) 4 3/4% 1/5/79 (250.000) (100.608 100.888) 5 1/4% 15/10/79 (250.000) (101.658 101.908) 6 3/4% 15/C/80 (250.000) (104.80B)143 words
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Advertisement176 1977-08-25 6 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who176 words
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Article, Illustration680 1977-08-25 7 SHARES staged a mild rally in moderate trading on the Stock Exchange of Singapore yesterday. During the morning session the market showed some signs of weakness on carried over selling orders. Hie trend, however, took a turn for the better in the light of scattered support680 words
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Article348 1977-08-25 7 TIN stocks featured bullishly on the Kuala Lumpur Stock Exchange yesterday. The strong support, with a more than doubling of the sector's volume to 586,000 units, caused most of the tin counters to set new highs for the year. It also took the New Straits Times Tin348 words
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INTERNATIONAL STOCK MARKETS
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Article315 1977-08-25 7 HONQKONQ: The market closed slightly firmer In falriy quiet trading, dealers Mid on Wednesday The Hang Seng Index roee 0.07 point to 421.80. JmrUmm Mufcme roee 90 cenU to 914.00 and Bwfas Ptdfie five cents to 90.79 and Htifkwf Buk and Wheelsck Mirto were unchanged. Turnover on the four315 words
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Article485 1977-08-25 7 Reuter TOKYO: Share prices fell sharply In active trading, dealers said on Wednesday. The Dow Jones average lost 33.38 to close at 5,150.24, with volume 300 million shares. The New Index was 382.06, down 1.05. Blue chips and exportoriented shares weakened on limited liquidations and other selling, while speculatlvesReuter - 485 words
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Article435 1977-08-25 7 SYDNEY: The market closed generally lover after opening slightly firmer, dealers said on Wednesday. The Bydney All-Ordinaries index closed 1.94 points down at 425.90. Uraniums were again easier ahead of the government announcement on uranium development, with P»ao—ti— ul losing 10 cents to 910.30, Ea Industrie* two cents to435 words
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Article171 1977-08-25 7 MANILA: The market closed higher across the board, on Wednesday, although turnover declined slightly to 5.M million pesos from Tuesday's 6.35 million, dealers said. OH issues continued to dominate trading with a total turnover of 4.50 million pesos. Gainers were Ami* Ifhrif, Atlas Cob A, Bagnio Gold, Lepanto B,171 words
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Article104 1977-08-25 7 AUG M Batata Asia Fibre MO -4 I lil arr -m l i v' i f't\ H M -4 folium Bank 1 715 -5 Berll Jucker 438 unch Charoon»Thal Wire 164 unch Dumex DuOtThanl 2348 FabtrMerttn flirt Trust 1928 Indo-Thai Industrial Finance Corp 1306 +30 J And J Ho104 words
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Article276 1977-08-25 7 AMSTERDAM: The market closed generally firmer on Tuesday, and Unilever and Reyal Dutch led Dutch Internationals higher, dealers said. Elsewhere, firmer shares Included Helaekea, Amro and Fokker. Van Ommeren, Nabonale Nederlandra, Gistbrocadee and Pakboed were among weaker Issues. State loans were lower In quiet trading. AUG FU Ahold #0276 words
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Article144 1977-08-25 7 BRUSSELS: Local issues were generally lower In quiet trading, dealers said on Tuesday. Electroflaa, Hoboken and Finoutreaer rose against the trend, but falls Included Sidro, FN, Toaaaadarloo, and UCB. UK and German stocks were lower, and gold mines also fell. US stocks were mostly higher. Petroflna eased, but Canadian144 words
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Article347 1977-08-25 7 FRANKFURT: Shares closed well maintained on Tuesday; but off their day's high, buoyed by hopes of llquiay easing measures from the Bundesbank Council meeting an Thursday, dsalsrssald. Aralnst ths general trend, chemicals Inet ground, with Best down 1.19 maJka, Bayer 1.20 and Hsachet one. Bayer and Hesshst are emected347 words
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Article164 1977-08-25 7 MILAN: Stocks fell back following the gains of the last four sessions, bourse sources said on Tuesday. Trading however, was somewhat thinner than In the past few days. Generate Immobiliare, Montedison, Flat, both Pireilis and both OUvettk all fell. Italgas, Italsider, Stet and Moadaderi gained, but other financial and164 words
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Article341 1977-08-25 7 PARIB: The market was generally mixed, dealers said on Tuesday. Banks, Investment companies, and buildings were mixed, while foods Improved. Micfcelin, in rubbers, advanced slightly and Paris Franco, In stores, gained six per cent. El ec til call and chemicals were Irregular, while metals fell. Oils gained slightly. In341 words
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Article283 1977-08-25 7 ZURICH: The market cloeed narrowly mixed In moderately active dealings, with no new Incentives, dealers said on Tuesday Leading banks and Insurances showed only minor changes. Financials followed the general trend, with both Bally stocks lower while Haaler firmed. Among slightly Irregular Industrials, Globus bearer and Sulaer registered met283 words
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Article387 1977-08-25 7 JOHANNESBURG: Gold shares were quietly easier on the stock market in line with the lower bullion price, dealers said on Tuesday. Heavyweights fell by up to 00 cents, while medium ana lightweight Issues shed up to 15 cents. Mining flnanclals followed producers down. Copper shares were harder and platinums387 words
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Article293 1977-08-25 7 TORONTO: Share prices closed mixed in light to moderate trading on Tuesday. The comKslte Index was off 1-1/2 points, t advances led declines 191 to 188. Northern Telecom, which laid off 280 workers at Its Bt. Laurent. Quebec, plant fell 3/4 to 32. Beak of Montreal lost to 16293 words
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Article1165 1977-08-25 7 NEW YORK: A late bout of selling in glamour stocks reversed an earlier advance on the New York Stock Exchange on Tuesday. sending prices to a lower closing In moderate trading. Wall Street analysts said the market lacks conviction because of concern over a possible economic slowdown. Triey1,165 words
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Article63 1977-08-25 7 FINANCIAL TIMES INDUSTRIALS Tuesday 483.7 Monday 485.6 Week Ago 490.4 DOW JONES AVERAGE INDUSTRIALS Tuesday 885.56 Monday 887.29 Week Ago 869.28 LONDON DOLLAR PREMIUM Tuesday 88 to 88* Monday 88H to 89 H H.K. HANG SENG Tuesday 421.13 Monday 421.03 Week Ago 419.01 ALL ORDINARIES Tuesday 427.23 Monday 431.1363 words
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Page 7 Advertisements
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Advertisement470 1977-08-25 7 BUSINESS TIMES Airline Directory Acroflot Soviet Airlines 110-112 Show Centra, Orchard Rood, (Tel: 377.111) Air Ceylon 302-6, 3rd Floor, Marina House Shenton Way, Singapore (1) (Tel: *****66) Ground Floor, ICB Building, Shenton Way Singapore 1 (Tel: *****11) 16th Floor, UIC Building, Shenton Way, Singapore 1 (Tel: 2205.277) Air New Zealand470 words
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COMMODITY REPORTS AND PRICES
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Article565 1977-08-25 8 ON the Singapore rubber market yesterday, prices were marked down 1.50 cents at the opening following lower London advices, but recovered quickly on reports of overnight acceptances from overseas. Past midday, continued buying Interest following some Russian orders caused prices to advance further, dealers said.565 words
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Article328 1977-08-25 8 Prices In cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 197.50 198.50N 198 00 199.OON Int. 1 R.S.S September 199.00 199.25 199.50 199 75 Int. 1 R.S.S October 201.50 202.00 202.00 202.50 Int. 2 R.S.S 196 75328 words
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Article101 1977-08-25 8 NOON SSR and SMR prices yesterday R.A.S. September October (Current Mth) (F« irwird Mth) Buyers Selleri Buyer* Seller* (cent* per kf) (a nuperkc) SSR 20 (1 ton pallet) 195 00 197.00N 196 00 198 00N SSR 50 (I ton pallet) 192.50 194.50N 193.50 195.SON MKELB SMR5CV (1101 words
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Article30 1977-08-25 8 Rubber: August 24 Singapore: September 1M.50 oenta (up 0.75 cent.) Malaysia: September 200.75 cents (up 0.75 cent) Tin: $1,706 (down $20) Official offering: 200 tonnes (down 20 tonnes)30 words
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Article201 1977-08-25 8 BANGKOK, Wed. Indicative prices quoted here today were unchanged from yesterday: Prices in U8 dollars per tonne Fob basis Bangkok: Whit* Rica: 100 pet Ist class 308. 100 pet 2nd 292, 100 pet 3rd 288. 5 pet 277. To pet 253. IS pet 250. 20 pet ***** pet 238.201 words
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Article380 1977-08-25 8 PEPPERS registered all round galhs in a generally quiet but steady Singapore produce market yesterday. The small recovery came following the withdrawal of bulk selling by origins Including Sarawak and Indonesia. Trading in the commodity, however, remained minimal and mainly on consumer account. Going by prices supplied by380 words
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Article236 1977-08-25 8 LONDON, Wed. Coffee opened slightly steadier with gains of £2 to £22 and turnover of only 179 lots. September was offered at £2,885. Coffee prices moved up £66 to £33, led by September which closed at £2,933 after selling as high as £2,940 and down to £2,840. The morning's236 words
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Article65 1977-08-25 8 THE Malaysian Minister of Finance has fixed these rates for the period from Aug 25 until further notice: Rubber: 88 7/8 cents a pound Cnra: 8792,00 a ton Pain Kernel: $235.25 a ton The rates of duties payable are: Rubber: 3/4 cents a pound Total 15 1/4 cent65 words
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Article88 1977-08-25 8 C.I.F. Rotterdam, US dollars per ton. LONDON: Malaysia 5% ffa bulk: Tuesday Previous 428 pd Nov 420 sir Jan 420.50 pd 428.50 pd Sumatra 5% Aug 582.50 sir 582.50 sir Sept 472.50 slr/470 pd 480 sir Oct 431.50 slr/435 pd 447.50 sir Nov 427.50 slr/425 pd 430 sir88 words
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Article217 1977-08-25 8 LONDON, Wed. Terminal cocoa finished a relatively short first call mostly £12 lower (July 1978 at £2,070) to £2.50 higher, having Initially traded £14.50 down against New York in near December £2.345 Der tonne. But near September was exceptionally higher by £16, partly due to a realignment of overnight217 words
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Article294 1977-08-25 8 THE Straits tin price In Penang yesterday was down MS2O to $1,705 per plcul on an official offering down 20 tonnes to 200 tonnes. Prices weakened following the easier sentiment on the London Metal Exchange, but some buying from Japan and the US was reported at the lower level,294 words
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Article265 1977-08-25 8 LONDON, Wed. Terminal sugar recorded first call gains from last night's close of £0.10 with near October at £112.10 to £1 per tonne, slightly up from kerb levels. But prices eased back In generally thin open trading. Dealers said sentiment continued to be bulllshly Influenced by optimism over the265 words
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Article288 1977-08-25 8 HONGKONG, Wed. The cotton futures market closed slightly firmer and at the day's highs, In fairly quiet trading, closely In line with the overnight rise In New York, dealers said. By shortcoverlng, commission houses pushed prices up 0.25 to 0.01 US cents, they added. Total turnover fell to288 words
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Article146 1977-08-25 8 CHICAGO, Wed. A late wave of local short-covering yesterday lifted soybean futures and final gains ranged from 3-3/4 to 6-1/4 cents a bushel, about two cents off the highs. In the closing minutes a prominent professional firm reportedly bought one million bushels of the November contract, helping to spur146 words
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Article114 1977-08-25 8 CHICAGO. Wed. Wheat futures here yesterday closed unchanged to fractionally higher after fluctuating throughout the session In a narrow one-cent trading range. Final prices were unchanged from Monday for the deferred September to cent a bushel higher for most other months. Traders said some buv-lng-support stemmed partly from a114 words
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Article314 1977-08-25 8 LONDON. Wed. Copper was mostly £0.50 per tonne higher for wlrebars. Cathodes were £1.50 up for cash and £1 higher for Three Months. The market was fully steady In early trading, aided by the later rally m US futures yesterday, but subsequently encountered some trade pricing sales. Although this314 words
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Article251 1977-08-25 8 LONDON, Wed. Silver gained three pence per troy ounce for cash and 2.7 Knee for Three Months Is morning. Values were marked up in the early pre-market, reflecting the overnight rally at New York and steadier gold this morning, trade sources said. Subsequently, prices drifted slightly lower under a251 words
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Article330 1977-08-25 8 pHE kllobar In Singapore B?ened at Ssl 1,416 and osed at 5511,420 In quiet condition. On the London market the metal opened at U*****.20/50 and closed at U*****.20/40. The London morning fix was U*****.00, up $60 on the previous fix. Source: Singmas Retail prices per tael quoted by the330 words
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Article129 1977-08-25 8 LONDON, Wed. Lead was unchanged for cash and £2.5 per tonne higher for Three Months this morning. Dealers said the market generally displayed a steady trend although yesterday afternoon's late kerb rally was not maintained. After early business at £318 per tonne, Three Months at the end of the129 words
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Article128 1977-08-25 8 LONDON, Wed. Zinc was £1 lower for cash and £1.50 down for Three Months this morning. The market was rather quiet which trade sources attributed to a background of low level outside demand and no follow-through to yesterday's late reports that the lower levels were attracting physical interest. Three128 words
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MONEY AND EXCHANGES
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Article509 1977-08-25 8 THE local money market yesterday saw rates taking a tumble across the board. Overnight money, which opened at the 2Vi per cent level, dropped to as low as per cent during postclearing hours and closed at about I per cent. Throughout the trading session net borrowers had no problems509 words
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Article53 1977-08-25 8 ACBC Firat Chicago Algernon* Bank 6V« Citibank |H Bangkok Bank 7 HSBC IH Bank of America $H 6'< Bank of China 7 m Bank of Tokyo m Bank Negara OCBC s** Indonesia 7 OUB t'i Chartered Bank 6h L'CB 7 Chaae Manhattan 6 l < L'MBC 753 words
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Article175 1977-08-25 8 Asian rates ASIAN currency deportt interbank rate* u at clog* on Auy 24: US Dollar* (Spot) OChr Bid 7 days 1 tnth 2 mthi 3 mtlu 6 mtfts 9 mths 12 mthi 1 mth 3 mtlu 6 mttu 12 mtlu ...8 7/8 6 3/4 ...111/IS 5 11/11 l/» ..1 5/16175 words
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Article49 1977-08-25 8 RANGE of prices offered by discount houses on Au| 24 Overnlf ht to 3* Cull deposit 3% CUH Buylnc 3-Montn Treasury 3 3- Month Bank bills 4 1/4 3-Months CD 4 1/2 fl-Months CD 4 15/16 2 7/t 1/8 4 3/8 4 13/16 Source: National Discount Co. Ltd.49 words
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Article81 1977-08-25 8 Euro rates LONDON, Wed. Eurodollar deposits yesterday closed a shade easier In places from generally steady openings In slack trading, dealers said. Time deposits had an easier undertone by the close with some positions 1/1® softer on the offered side. Three Months remained steady after Its higher opening because of81 words
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Article39 1977-08-25 8 THE Monetary Authority of Singapore Invites banks and discount houses to tender a total of $30 million 91-day Treasury bills to be Issued from Aug 29 to Bept 2. Each tender must not be less than $250,000.39 words
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Article158 1977-08-25 8 NEW YORK, Wed. The dollar closed weaker on balance yesterday after a moderate trading session, as expectations grew here of another record US trade deficit In July, to be reported on Thursday, dealers said. Many operators here expect a deficit of US$3 billion or more, above the record158 words
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Article172 1977-08-25 8 LONDON, Wed. The US dollar eased in thin trading to around 2.3130/40 marks from 2.3190/3200 overnight, dealers said. It weakened as market apprehension over US trade figures, due tomorrow, grew. Estimates here range above the US$2.B2 billion record June deficit to a $3.2 billion shortfall, dealers said. Furthermore, operators172 words
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Article100 1977-08-25 8 TOKYO, Wed. The US dollar for overnight delivery closed slightly lower at 266.70 yen, after a 266.75 opening and 266.80 at yesterday's close. The dollar moved narrowly as forward dollar buying by importers was balanced by yen buying from Southeast Asian centres, dealers said. Combined spot trading volume was100 words
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Article111 1977-08-25 8 HONGKONG, Wed. The US dollar eased in fairly quiet trading to a late 2.3135/45 marks from 2.3160/70 in New York, after fluctuating between 2.3130/40 and 2.3150/00 earlier, dealers said. The dollar was unchanged against the Hongkong dollar at 4.6450/60 but slightly weaker against the yen at 266.60/70 266.74/88 in111 words
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Article51 1977-08-25 8 AUSTRALIAN/NZ exchanges on Aug 24: Australia Sterling 0 8377/0.8414 US dollar 1 1055/1.1131 Ninety-day air mall buying rates: Sterling 0.8538 US dollar ***** Ninety-day forward buying rates: Sterling 0.6333 U8 dollar 1.0956 New Zealand: Sterling 0.5574/0.5543 U8 dollar 0.9746/0 9646 Ninety-day forward rate: Sterling 0 5702 US dollar 051 words
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Article50 1977-08-25 8 ZURICH exchanges closing quotes on Aug 23: US 2.400-4010 UK 4 .1785-1790 Can 2.2370-2300 W Oerm 103 45-55 NeU) 97.M-M M FTance 48 99-49 03 Belf 6.75-75-3/4 Denm 40 05-08 Norw 45.43-48 8wed 54 55-58 Italy 0.2720-2723 Austria 14 59-81 Port 6.19-23 Spain 2.M-1/4-M-3/4 An 0 55-45 Japan 0.90-90-1/250 words
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Article39 1977-08-25 8 FRANFURT exchanges opening quotes on Aug 24: U8 2 3125/35 Can 2.1565/85 UK 4.027/33 Neth 94 80/70 Swltz M 87/77 Italy 2 821/28 France 47.25/35 Norw 43 70/80 Brig (com) 8.515/25 Bel« (fin) 8 50/51 Japan 0 8875/8539 words
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Article348 1977-08-25 8 LONDON, Wed. US straight bonds firmed by up to V 4 point on low volume, dealers said. Canadians also firmed but gains were limited to around point. The pricing of AB Goetaverken notes and bonds, at par and 99respectively, was higher than expected, market sources said. They expect them348 words
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Page 8 Advertisements
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Advertisement313 1977-08-25 8 Penguin Li 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 in313 words
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TRANSPORT AND COMMUNICATIONS
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Article144 1977-08-25 9 Reuter ROME. Wed. Italian print workers yesterday began legal proceedings to Kvent the proprietor of me's English language paper, the Dally American, from closing it down, sources on the paper said. A local print union was taking action against the proprietor, Chantal Dubois, for defyingReuter - 144 words
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Article35 1977-08-25 9 Reuter SYDNEY. Wed. The Australia Northbound Shipping Conference said its Australia to East Asia (Hongkong,' Philippines, Taiwan) bunker surcharge will rise to 10.31 per cent from 10.12 per cent on Sept 1. ReuterReuter - 35 words
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479 1977-08-25 9 AFP AP LONDON, Wed. An air controllers' strike in Britain starting Friday is all but certain, after failure today of a government effort to avert it. Union representatives of the controllers, who demand a 17 per cent pay Increase, rebuffed a conciliation attempt byAFP; AP - 479 words
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Article125 1977-08-25 9 AFP KUALA LUMPUR. Wet. Malaysia has ordered six specially equipped barges from France to fight oil spills In the Straits of Malacca. The barges will cost about UBBBOO.OOO (551.95 million). A contract for the delivery of the barges was signed here last night by the MinistryAFP - 125 words
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Article49 1977-08-25 9 Reuter LONDON. Wed. Ocean Transport and Trading Ltd said It ordered three cargo ships worth £38 million (8131 million) from the state owned British Shipbuilder Scott Llthgow Ltd. The ships will be delivered between the second half of next year and the first quarter of 1980. ReuterReuter - 49 words
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1475 1977-08-25 9 STEPHEN M. AUG - By STEPHEN M. AUG Washington Star WASHINGTON: An airline fare war on some of the world's most heavily travelled routes doubtless Is benefiting ordinary consumers but at the same time it is driving to the brink of financial disaster the traditional suppliers of low-costWashington Star - 1,475 words
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Article209 1977-08-25 9 Reuter LONDON, Wed. Orders In hand or under construction at world shipyards fell 5.58 million tons during the quarter aided June 30,1977 to 45.84 million tons gross, the lowest level since September, 1988, Lloyd's Register of Shipping slid. In its latest Merchant Shipbuilding Return itReuter - 209 words
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Article75 1977-08-25 9 AFP HONOKONO, Wed. Simultaneous top-level ceremonies will take place In the Philippines, Japan and Hongkong on Friday to inaugurate Asia's largest submarine cable system. The Oklnawa-Luson- Hongkong (Oluho) system carries 1,840 telephone circuits between Hongkong and the Philippines and 1,600 channels between Luzon and Okinawa. The inauguration ceremoniesAFP - 75 words
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Article397 1977-08-25 9 SCANDUTCH Is a consortium of five European shipping lines. These are Brostrom Shipping Company (Gothenburg), Compagnle Generate Maritime (Paris), the East Asiatic Company (Copenhagen), Nedlloyd Lines (Rotterdam) and Messrs. Wllh. Wllhelmsen (Oslo). It has an agreement with the Malaysian International Shipping Corporation (MISC) to operate a Joint service between397 words
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Article, Illustration360 1977-08-25 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Anwo Venture (6ZMQ) (0630 6/7 Dong Bee (0900 after Asmara) 31/32 Ibn Majid (2200 after Eumaeus) 35/36 Kaihei Maru (JOUQ) (0600 40/41 King Sun (0600 after King River) 24 Nedlloyd Eems (1900) 10/11 Sarunta HI (0600) 29/30 Sonderhausen (1100 after Komsomolskaya Slava) 8/9360 words
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Article573 1977-08-25 9 ARRIVALS Soyice Local Operator Number Time Pram -v CPA CX003 0145 HKO ffifs fm {S^ cmb CPA CX710 1000 HLP OIA GA980 1030 HLP SIA SQ211 1045 HLP OIA OA944 1055 PKU OIA QA906 1100 MES PAL PR501 1115 MNL RBA BI325 1155 BWN SIA SQ240 1210573 words
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Article160 1977-08-25 9 UPI LONDON, Wed. Despite a fall-back in the volume of trade, there was sufficient business albeit varied, to attract attention. Grain movements out of the St. Lawrence and US Oulf predominated although loaders for European discharge were hard to find. Schouten, however, booked a 55,000 tonner withUPI - 160 words
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Article86 1977-08-25 9 CATHAY Pacific Airways (CPA) will resume Its Singapore/Bangkok return service from Nov 1. There will also be one direct Singapore/Kuala Lumpur return service per week In addition to Dubai being added to the carrier's network of routes. All the services will be operated with full traffic rights. There86 words
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Advertisement273 1977-08-25 9 while stocks last! f m s fc? Jr f v- f '-4V- **&%*<- jk -*A $125/The TimM Atlas of China it far mora than a collection of detailed, up-to-data maps, it ia an informative, ganaral guida to modarn China the land itaeff, and the economy and peoples it euetaine. The273 words
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Article, Illustration850 1977-08-25 10 RUTH GRUBER - By RUTH GRUBER UPI LELYSTAD, The Netherlands: There's an old saying that when God created the Dutch people he forgot to give them land to live on. For nearly 10 centuries the Dutch, with about a fifth of their land area below sea level,UPI - 850 words
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Article194 1977-08-25 10 NELLIE KO (Mrs - NELLIE KO (Mrs) RE: BUSINESS TIMES ARTICLE (Aug- 23) "MEMO TO GOVERNMENT"? CHAMBER DENIES THOSE REPORTS I refer to the Business rimes article on the front page with the above captioned headline. Wc object to the very misleading headline which says, in effect, that the Chamber had194 words
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Article974 1977-08-25 10 JERRY FLINT - By JERRY FLINT NYT NEW YORK: There were Italians and Jews and Hispanic people, and now It Is the Chinese who are moving Into New York's needle trades. "Before me nobody was working for Marty In Chinatown. Five years ago he said "No, no, noNYT - 974 words
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Article893 1977-08-25 10 MICHAEL THOMPSON-NOEL - BRITISH RAIL'S VENTURE In 1886 Lord Newberry paid 24 guineas for a Tiepolo sketch. In 1975 British Rail's pension fund paid £196,000 for it. They, too, are taking the lonf-term view of their investment in art. By MICHAEL THOMPSON-NOEL FT LONDON: The story began In December,FT - 893 words
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Article, Illustration1106 1977-08-25 10 VIVIAN LEWIS - By VIVIAN LEWIS NYT PARIS: After gracing the Paris skyline for 88 years, Alexandre Qustave Eiffel's creation Is under attack again. No one Is proposing to tear down this city's best-known landmark, as Ouy de Maupassant and other aesthetes of the 1890s urged.NYT - 1,106 words
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Advertisement166 1977-08-25 10 GAMBLERS HANDBOOK HA V n 1 a Hor$ e5 is £v rP P Di<* n i M lf]i I 1 i y kff It H I U 16/ by E. Lenox Figgis F.C.A. A practical handbook explaining how batting takos placa on tha world's most popular batting pastimot, including hortas,166 words
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196 1977-08-25 11 KUALA LUMPUR. Wed. Tin production dropped by 1,063 tonnes in the first six months of this year compared with the same period last year. The January to June production for 1977 was 20,378 tonnes. According to the Mines Department, the June production was 4,688196 words
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Article125 1977-08-25 11 AFP HONGKONG, Wed. Negotiations proceeding In Belgrade may land a Hongkong electronics company a US$4 million (559.6 million) order for stereo cassette-radio sets, it was learned here today; The Hongkong company is Asia International Electronics (AIE) whose managing director, Mr. C. K. Wong, isAFP - 125 words
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Article32 1977-08-25 11 BANGKOK, Wed. Kuwait Is expected to extend a US$2O million (S*49 million) loan to finance an electricity expansion project in the southern province of Pattanl, an official source reported today.32 words
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549 1977-08-25 11 Reuter AFP TAIPEH, Wed. The Cabinet has announced a wide-ranging programme aimed at stimulating Taiwan's lagging capital Investment. The programme covers three major areas and Is designed to provide more favourable incentives and create a better climate for Investment. Greater tax exemptions and reductions willReuter; AFP - 549 words
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336 1977-08-25 11 IT is contest time for Singapore motorists. Two oil companies have each joined hands with a major airline to promote their product sales. British Petroleum is running its contest in conjunction with British Airways, while Shell has Just started a similar competition in association336 words
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218 1977-08-25 11 TEN agents and suppliers of scientific equipment and laboratory ware will display their latest equipment at the Singapore National Institute of Chemistry's (SNIC) symposium on "Progress of Chemistry In Singapore" from Aug 27 to 28. The exhibits to be displayed In 19 stalls, will218 words
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Article91 1977-08-25 11 A SEMINAR on Singer Audio Visual Technical Service will be held at Hotel Summit from Sept 19 to 21. The seminar, to be conducted by Mr. Harry Davis, assistant national service manager of Singer Education Systems, Rochester, New York, will be on how to repair and service91 words
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155 1977-08-25 11 AFP KATHMANDU, Wed. India has agreed to sign two separate treaties on trade aad transit with landlocked Nepal, it was officially announced here today. Nepnlese Foreign Minister Krishna Baj Acyal told the National Legislative Assembly yesterday that Indian Prime Minister Morar# Desai hadAFP - 155 words
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Article79 1977-08-25 11 Reuter TOKYO, Wed. Japan's defence Industries face a crisis due to a sharp decline in their work and may be unable to meet the nation's future defence needs, the Federation of Economic Organisation (Keldanren) said. It said In a report that the amount of work done byReuter - 79 words
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628 1977-08-25 11 PENANG, Wed. The state government was urged today to draw up a master plan for the development of Important tourist projects and faculties. It was also taken to task by the hotel Industry for showing more concern In developing the Industrial economy than the628 words
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Article69 1977-08-25 11 A LONDON-BASED firm, Carlmex Ltd., has filed a Setltlon with the High ourt here to wind up Grace Pharmaceutical Pte. Ltd. The petition alleges that Orace Pharmaceutical Is unable to pay up <28,126.86 due to Carlmex under a bill of exchange sometime last year. The petition69 words
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469 1977-08-25 11 KUALA LUMPUR, Wed. West Asia has emerged as the fastest growing market for Malaysian sawn Umber. Export to that region in the first quarter of the year shot up by *72 per cent against the corresponding period last year. According to the latest issue469 words
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1460 1977-08-25 11 Reuter NEW DELHI,Wed. —India celebrated Its 30th anniversary of Independence on Aug. 15 the day that signalled the beginning of the break-up of the British Empire and the wider process of post-world War Wo decolonisation. Many Indians today say proudly thatReuter - 1,460 words
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Article216 1977-08-25 11 PRODUCTIVITY of Singapore workers Is rising fast but has yet to match the level of the Germans. This Is the view of Dr. Hans Dietrich, the outgoing West German Ambassador, who has completed a four-year diplomatic stint here. Comparing Singapore and German workers, he said: "Productivity216 words
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Article63 1977-08-25 11 SCOTT and English will be conducting its first Asean sales and technical seminar on Saxon copiers from Sept, 7 to 8 In conjunction with the coming ABEX Expo 77. The seminar will be attended by a 16-man delegation from Hongkong, Taiwan, Philippines, New Zealand, Tahiti, Thailand, Malaysia63 words
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Article58 1977-08-25 11 AFP BANGKOK, Wed. The minimum wage for labourers in Bangkok and five surrounding provinces will go up by three baht (536 cents) on Oct 1, a spokesman for the Interior Ministry confirmed today. The Increase, which was calculated according to the Increased consumer price index, meansAFP - 58 words
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197 1977-08-25 11 Reuter MANILA, Wed. The Philippines will ask Japan to extend trade preferences for several export commodities during the forthcoming renegotiation of the bilateral treaty on amity, commerce and navigation, officials said today. Trade Secretary Troadlo Qulason Jr. said the commodities Included coconut oil,Reuter - 197 words
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254 1977-08-25 11 KUALA LUMPUR, Wed. The consumer price Index for Peninsular Malaysia rose by 0.3 per cent in June to 153.3. This Is mainly due to the Increase In rent by 3.3 per cent. To a lesser extent, the Kce Increase also arose m higher254 words
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Advertisement148 1977-08-25 11 APPOINTMENTS SENIOR PROJECT ENGINEER required in Brunei. Accommodation will be provided. Prospects for advancement and promotion are excellent as this is a senior managerial appointment calling for a qualified civil engineer with proven experience in whan construction including major piling and dredging works. He should be a mature sell-starter around148 words
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1188 1977-08-25 12 LOCAL RUBBER shippers remained unruffled by the prospect of having to pay freight rates 2.5 per cent higher than Malaysian shippers, if they use Par Eastern Freight Conference (FEFC) lines. This would result from a separate merchant agreement to be signed by1,188 words
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184 1977-08-25 12 BUSINESSMEN prefer arbitration rather than litigation In settling disputes, an eminent British Judge, Mr. Justice Michael Kerr, said yesterday. This Is because businessmen see certain advantages in arbitration, he told lawyers and legal students in a talk at the University of Singapore. Mr. Justice Kerr184 words
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232 1977-08-25 12 A FOUR-MAN Vietnamese purchasing mission Is here to buy rubber processing equipment and machinery spare parts. Led by Mr. Hoang Thlen Tam from the Vietnam National Machinery Import and Export Corporation, the mission has already started negotiations with four or five engineering companies In the232 words
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Article187 1977-08-25 12 THREE directors of Fortuna Realty, now in liquidation, were fined a total of $28,000 in a district court for contravening the Housing Developers (Control and Licensing) Act. They are Sze Chu Mlaw, Llm Chong Ern and Llm Choong Sing. Llm Choong Sing, who faced five charges in187 words
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Article101 1977-08-25 12 tHE trustees of the estate ui me late Mr. Seah Liang Seah were awarded an additional sum of $513,500 on two appeals for Its houses at North Bridge Road and North Boat Quay which were acquired by the Government five years ago for urban renewal. The first101 words
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222 1977-08-25 12 BOTH Bl»niin Airlines (8IA) airfßrfciah Airway. (BA) are MtrrW to be, pl«ui< with yeeterday'i' jafat Concorde witw, daocrlbod by a BA apokeei»M the matting waa imftil aai very constructive bat declined to (•■■•■t farther, atoce the ■■■Hag waa ml preliminary and by mm means final,222 words
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Article28 1977-08-25 12 AFP JAKARTA, Wed. Foreign companies have spent US$7OO million (881.72 billion) in mining explorations during the past 10 years, the Mining Ministry spokesman said today.AFP - 28 words
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264 1977-08-25 12 Reuter MANILA, Wed. The Philippines Is offering to reduce tariff rates on 14 products from fellow members of Asean, officials here said. The 14 Items are among the 71 products on which the five Asean states have agreed to extend one another tariffReuter - 264 words
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Article203 1977-08-25 12 AFP KUALA LUMPUR, Wed. The third Asean parliamentary conference to be held in Manila next Monday is expected to discuss and finalise the statutes for the formation of the Asean Parliamentary Organisation. The Secretary of Parliament, Datuk Azizul Rahman bin Abdul Aziz, said here today that theAFP - 203 words
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Article113 1977-08-25 12 CANBERRA, Wed. Australia has signed an agreement to participate In the development of telecommunications In the Asian and Pacific region, Minister for Post and Telecommunications Eric Robinson announced here today. Mr. Robinson told Parliament that Australian membership of the AsiaPacific Telecommunity would help In the113 words
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368 1977-08-25 12 •SINGAPORE cannot afford to have poor quality work because It means bad business, the director of Public Works, Mr. Yap Neng Chew, said yesterdaySpeaking at the opening of the "Engineering ana Building Careers Exhibition and Seminar" at the Singapore Conference Hall organised by368 words
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Article481 1977-08-25 12 APF Reuter TOKYO, Wed. The government will toon take measures to buoy up the faltering economy and to attain the "Interna-tionally-promised" economic growth of 8.7 per cent this fiscal year, ending next March. This was agreed upon at a meeting today between Prime Minister TakeoAPF; Reuter - 481 words
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Article147 1977-08-25 12 Reuter MANILA, Wed. American Express International Banking Corporation (Amex), one of the biggest American multi-national companies here, today opened its offshore banking unit in the Philippines. Amex, also active in the West Asia through the American Express Middle East Development Company, is one of 18Reuter - 147 words
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Article823 1977-08-25 12 LONDON. Wed. The stock market traded very quietly today and at the close shoved small mixed more menu, dealers said. At 3 pm the Financial Times Index was up 1.4 at 485.1. Government bonds were narrowly mixed. Longs closed up to 1/1 point lower on balance and shorts823 words
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Article167 1977-08-25 12 KUALA LUMPUR, Wed. The Registrar of Societies has called for the minutes of the MTUC's delegates conference held In December last year. It Is understood that he Is probing into allegations of Irregularities In the election of principal officials at the conference. The registrar, according167 words
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Article31 1977-08-25 12 AFP NEW DELHI, Wed. India's exports of synthetic textiles registered an Increase of 268 per cent during the first six months of this year, official figures showed yesterday. AFP.AFP - 31 words
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Advertisement157 1977-08-25 12 Singapore's Financial Dally Customer Services Bureau As a Business Times reader, you deserve the best. Your Business Times should be on your desk before you step Into your office. If you like to read your Business Times at home, It should be on your door-step before you wake up. And157 words
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Advertisement196 1977-08-25 12 Qve us a man fora monthwell give him a language for life ■■nyUa now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency in196 words
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