The Business Times, 5 September 1977
1977-09-05
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The Business Times
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Title Section10 1977-09-05 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, SEPTEMBER 5, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article80 1977-09-05 1 UPI TORONTO. Sun. Canada was influenced by the London and Paris branches of the de Rothschild family in agreeing to establish a uranium cartel that set prices and quotas between 1972 and 1975, according to government finance critic Sinclair Stevens. Mr. Stevens is one of six Tory MembersUPI - 80 words
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Article85 1977-09-05 1 Reuter NEW DELHI. Sun. Indian Industry Minister George Fernandes today forecast India's industrial growth rate would be about 8 per cent at the end of the current financial year in March 1978. He said that overall industrial production had gone up by 5 per cent in the pastReuter - 85 words
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Article73 1977-09-05 1 Reuter KINGSTON, Sun. Latin American and Caribbean sugar producing countries today sharply criticised the European Common Market, saying the world's most prosperous economic grouping was the biggest stumbling block to the reaching of a new international sugar agreement. The 22 states, ending a week-long meeting here, called onReuter - 73 words
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Article63 1977-09-05 1 Reuter JAKARTA, Sun. President Suharto has approved plans for Foreign Minister Adam Malik to resign his office to become a member of Indonesia's new Parliament, Antara news agency reported today. The national news agency quoted State Minister Sudarmono as saying that the President had already approved theReuter - 63 words
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Article62 1977-09-05 1 Reuter LONDON. Sun. The director of one of Britain's main overseas voluntary agencies said today his organisation was engaged not only in works of compassion but in redistributing power in the Third World. Dr. Kenneth Slack, head of the charity said that Christian Aid is committed constantlyReuter - 62 words
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Article80 1977-09-05 1 Reuter TOKYO. Sun. One out of every two Americans regards Japan as their country's reliable ally, according to a Gallup Poll commissioned by the Japanese Foreign Ministry. As the most important partner of the United States. 42 per cent named Japan (40 per cent in the previous poll),Reuter - 80 words
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Article63 1977-09-05 1 Reuter KUALA LUMPUR, Sun. The International Maritime Consultative Organisation (IMCO) meeting in London tomorrow will discuss the traffic separation scheme for safe navigation in the Straits of Malacca proposed by Singapore, Indonesia and Malaysia. Malaysia will represent the three littoral states sharing the straits at the five-day IMCOReuter - 63 words
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Article66 1977-09-05 1 Reuter LONDON, Sun. The National Executive of the ruling Labour Party said today that abolition of the non-elected House of Lords should be one of its main objectives. The Conservative dominated Lords, with Its 1,139 hereditary and nominated peers, revises parliamentary legislation and although It cannotReuter - 66 words
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Article116 1977-09-05 1 THE following list of stocks gives the 10 most traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units, closing prices on Friday and the high and low for 1977. Company T urnover Price* High Low 000 Sept 2116 words
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LOCAL STOCK INDICES
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Article75 1977-09-05 1 Aug 29 Aug 30 Aug 31 Sept I Sept 2 BT Index: 429.74 427.25 426 14 429.10 427.85 Industrials: 268 02 267.55 267.43 267.21 267.52 Co) Finance: 455.23 452.00 449.62 449.90 448.10 Hotels: 173.41 173.05 172.69 172.33 172.11 Properties: 172.20 171.46 171.46 170.53 170.37 Ttns: 133.57 133.13 133.29 132.6975 words
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Article86 1977-09-05 1 Aug 29 Aug 30 Aug 31 Sept 1 Sept 2 BT Index: 478.10 470.29 closed 464.78 474.81 Industrials: 295 33 294 36 closed 293.84 293.73 Finance: 398 19 393.61 closed 389.76 38# 97 Hotels: 175.99 175.62 closed 175.62 175.62 Properties: 156.53 156.07 closed 155.01 154.31 Tins: 138 44 138.2186 words
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Article1180 1977-09-05 1 QUEK PECK LIM - PER CAPITA INCOME OF $6,000 PLUS By QUEK PECK LIM ALTHOUGH by international reckoning, Singapore's per capita Income Is $6,250, most of its working population earn far less than that. The results of a labour force survey conducted last year by the Ministry1,180 words
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618 1977-09-05 1 NTUC INCOME Is going all out to tap a new sector of the market for its Insurance services. This Is the sector of the self-employed hawkers, taxi-drivers, small traders, barbers and tailors. Mr. Tan Kin Llan, acting general manager of Income, said yesterday: "As618 words
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251 1977-09-05 1 UPI TOKYO, Sun. Prime Minister Takeo Fukuda said today that unless Western countries get over their present economic confusion, the balance of world power may tilt towards the communist bloc. "Before World War 11, there was only one communist country the Soviet Union,"UPI - 251 words
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145 1977-09-05 1 BIRMINGHAM. Sun. Leaders of Britain's 28,000 dock workers have decided to call a strike In ports all over Britain in support of a pay claim. The members of the Dockers' Shop Stewards' Committee, an unofficial but powerful body, said here last night they145 words
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300 1977-09-05 1 Reuter TOKYO, Sun. Prime Minister Takeo Fukuda today expressed confidence that the Japanese economy would show remarkable improvement as a result of a package of economic measures announced yesterday. His remark came in a speech at the closing session of theReuter - 300 words
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367 1977-09-05 1 TOKYO, Sun. An influential US legislator said today the world's noncommunist countries should negotiate a treaty on taxing multi-national businesses, and regulating their activities. "It is important to standardise taxation and procedures for dealing with multi-national businesses," said Representative Barber Conable, Republican-New367 words
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176 1977-09-05 1 UPI MANILA, Sun. The Philippine government has outlawed the possession of foreign exchange for more than three days by Filipinos and foreigners In the country. In a circular published today. the Central Bank said possession of foreign currencies for more than 72 hours would beUPI - 176 words
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Page 1 Advertisements
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Advertisement50 1977-09-05 1 Ricoh] for plain paper copying *****33 IVf tVywv Private Limited mSJ a responsible company 39th Floor Hong Leong Building Singapore 1. INSIDE Leisure/ Crosswords —P2 Information Leisure —P3 Overseas Markets features/ Radio 6 TV —P4 Commodities International Co News/ Sports Overseas News —P5 Local Overseas l.ocal Co. News/ Share News50 words
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Advertisement121 1977-09-05 1 NCD? ACBC makes it easy. When you require Negotiable Certificates of Deposit, you'll find it easy to talk to the people at ACBC. ACBC offers highrinterest rates on NCD's, for minimum deposits of $100,000, on fixed periods of not less than 3 months. ACBC has the resources, experience and expertise.121 words
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Advertisement150 1977-09-05 1 NOW Cool healthy pollution five driving is POSSIBLE <LJ° —fIIARUEIHJ COOL /VIASTER PUREACE CAR AIR CONDITIONER AK( PUFVFCB T©| CHUNG SHAN MOTORS 5-t1 GOLDHILL PLAZA Tel *****2 340 LAVENOER STREET Tel *****80 JAL FLIGHT 712: THE TOKYO EXPRESS I NEW YORK VANCOUVER 'VSAN FRANCISCO ANGELES I (HONOLULU SINGAPORE ttcVV I150 words
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REVIEWS
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Article635 1977-09-05 2 THE CALL last week by the Singapore Association or the Institute of Chartered Secretaries and Administrators for legislation to ensure that all publicly quoted companies should have company secretaries who are professionally qualified appears reasonable and desirable. But appearances can be deceptive. The hard fact of635 words
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Article537 1977-09-05 2 THOUGHTS this week on the aouod scene which it Kting considerably murky m the preeent popularity of echo and reverberation experiments. Out of all that, howvvor, fingers are crossed that you might soon have the power to switch on the Singapore Conference Hall's acoustics k your HDB537 words
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Article, Illustration1860 1977-09-05 2 NYT NEW YORK: It Is probably bad form to bring it up this week, Just as the new season arrives radiating good hope, but the separation of blacks and whites In the arts has reached the point where It may be said that culturalNYT - 1,860 words
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1299 1977-09-05 2 cTHEATRE NYT NEW YORK: The theatre of words Is a ***** form although nonetheless agreeable for that. It is In part literature It exists on the page and in the story. It may need an actor to give Marlowe's mighty line Its full resonance,NYT - 1,299 words
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770 1977-09-05 2 tBOOKS 1 FT SOMERSET MAUGHAM used to be so terrified of getting stuck somewhere on his travels lacking something to read that he never went without what he called his book-bag. He found, "the largest sack made for carrying soiled linen and filledFT - 770 words
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Page 2 Advertisements
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Advertisement196 1977-09-05 2 IBJ The Bank for All Reasons Long-Term Financing. IBJ is Japan's oldest and largest long-term credit bank. We are the leading bank in arranging yen-denominated bond flotations by both foreign and domestic issuers. Main Bank to Japan's Key Industries. IBJ is main bank to more of Japan's industrial leaders than196 words
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Page 2 Miscellaneous
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Miscellaneous53 1977-09-05 2 THE WEATHER !i WEATHER report for 24 hours prior to 7.30 p.m. on Sept. 4 at Singapore airport. Maximum Temperature 31.8° C Associated Humidity 57 Minimum Temperature 24.0° C Associated Humidity 100 Hours of Sunshine 9.50 Rainfall in Millimetres Nil Total Rainfall for the Month Nil Total Rainy Days for53 words
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Miscellaneous462 1977-09-05 2 TWO-IN-ONE CROSSWORD a Mummmm i "W Hi H Hi wm mm mm r rn t. jt a CRYPTIC PUZZLE ACROSS 3 Ted and Erica (5) 8 Red airman's missile (5) 10 August registered name (5) 11 Army banger (3) 12 Haughty public relations man for an urban district (5) 13462 words
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Article, Illustration1758 1977-09-05 3 KENNETH MOK - By KENNETH MOK Mr. Mok is head, research department, NTUC. I AM usually in the office by 7.30 a.m.. Just to beat the CBD restriction hours. In my previous Jobs In Jurong I did not get to work till nine. The earlier starting time now Is most1,758 words
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Article, Illustration718 1977-09-05 3 PRESENT DILEMMA HAS ITS ROOTS IN 19TH CENTURY The Jewish Pretence. Euayi on identity and history- By Lucy S. Da widow icz. 308 pagw. Holt, Rinehart 4 Winston. U5512.96. ONE can scarcely fault the skill of these essays by Lucy S. Dawldowlcz, a teacher of modern718 words
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678 1977-09-05 3 t ART 1 Romanesque Art. Selected Papers. Volume 1. By Meyer Schapiro. 368 Pages. Illustrated. George Braziller. US$3O. STRICTLY speaking, Meyer Schaplro's first volume of selected papers Is for serious students of the Romanesque that stylistic period, so-called for Its source in the buildings678 words
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Page 3 Advertisements
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Advertisement86 1977-09-05 3 N Aw Date General Dasher Printer V 1 Display iw Data General EcUpse c/ 330 visit us at j4BEXp stand n0.617/623... DcitflP Hyatt S'pore Hotel, 10/12, Scotts Road. Singapore 0. JL X J Teller Terminal f BUNKER PAMO BUNKER n Afvio ii'i tuiX* Line Pi SENEIAI i^illCTi Busbook/Journal Printer BUNKER86 words
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Page 3 Miscellaneous
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Miscellaneous8 1977-09-05 3 BriStoW: Frank Bi ckenS I HE U£f'S GO8 words
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3450 1977-09-05 4 Gan Tin Hua,Awther Singh - By Gan Tin Hua,Awther Singh THE professional in Singapore has been the subject of a great deal of debate, discussion and criticism. With due respect to the medical practitioners who look after our health, and the legal profession who guide us through our personal and3,450 words
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831 1977-09-05 4 FT PORT OF SPAIN (Trinidad): What does the government of a small oilproducing country do when It finds that a dramatic Increase in the price of its main resource has brought it wealth beyond its most ambitious expectations? In the case of TrinidadFT - 831 words
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754 1977-09-05 4 UPI LONDON: Looking from a window over the placid Thames river shimmering In the summer sun, Mr. Peter Black said: "It would be the greatest natural disaster this country has ever faced. A catastrophe for the capital on the scale of the Great FireUPI - 754 words
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Page 4 Advertisements
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Advertisement178 1977-09-05 4 The Straits Group invites applications from suitably qualified candidates for the post of: GROUP TAXATION MANAGER $36,000 $54,000 per annum The incumbent will be responsible for tax planning and all tax matters of the Group. Applicants should-have: a recognised University degree or professional qualifications a minimum of 6 years experience178 words
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Page 4 Miscellaneous
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Miscellaneous297 1977-09-05 4 RADIO SINGAPORE 5 3.00 PM Opening announcements followed by valar Pirai (Tamil- 3.25 Diary of Events (Tamil) 3.30 Afternoon Matinee Gentlemen Marry Brunettes (Pt. 1) 0 Starring: Jane Russell, Jeanne Crain, Alan Young, Rudy Vallee, Scott Brady 4.20 Intermission 6.05 Opening announcements followed by Inquiry The Arts and You I297 words
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INTERNATIONAL COMPANY NEWS
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699 1977-09-05 5 FT ZURICH, Sun. The Swiss watch Industry, whose share of the world market has fallen sharply during recent years, will receive financial support from the Federal authorities If a new Government decree is accepted. The Jura area of Switzerland. the world's biggest watchFT - 699 words
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Article36 1977-09-05 5 Reuter NEW YORK. Sun. J. Ray McDermott and Co said Its cash tender offer for 4.8 million shares of Babcock and Wilcox common stock Is oversubscribed and purchases will be made pro rata. ReuterReuter - 36 words
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Article84 1977-09-05 5 Reuter LONDON, Sun. The Stock Exchange Council said It has reduced to 25 per cent from 35 per cent the minimum proportion of a company's equity capital which must be in public hands before It will be considered for listing. The 35 per cent qualification wasReuter - 84 words
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Article97 1977-09-05 5 Reuter TOKYO, Sun. Marubeni Corp said Its Joint venture company, LYL Rubber Sdn Bhd, has started to produce national rubber in Bentong for export to Japan. LYL Rubber, with an annual capacity of 7,200 tonnes, was set up In 1975 with a capital of Ms 2Reuter - 97 words
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197 1977-09-05 5 Reuter MELBOURNE, Sun.— BH South Ltd said a recentlycompleted revaluation of Investments lifted book value on non-listed companies, Including subsidiaries. by about A 589.81 million and a like amount will be credited to asset revaluation reserve in the accounts for the year endedReuter - 197 words
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Article149 1977-09-05 5 Reuter TOKYO, Sun. Isuzu Motors has said its profit before tax and special Items for the year ending October 1977 will total a record 14.9 billion yen, up 7.9 per cent from the 13.8 billion forecast earlier. Sales are expected to Increase to more than 466Reuter - 149 words
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Article165 1977-09-05 5 Reuter NEW YORK, Sun. Bankers Trust New York Corp said In response to the cut In Its rating by Moody's Investors Service that It has improved its capital ratios, increased Its loan valuation reserve and reduced its level of non-performing loans since receiving the tripleReuter - 165 words
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Article57 1977-09-05 5 Reuter TOKYO, Sun. Sumitomo Metal Mining Co Ltd is prospecting high grade gold deposits near the city of Ako. western Japan, in a joint venture with the owner, a company spokes- man said. Sumitomo's experts believe the seam is small and cannot have much more than 30,000 toReuter - 57 words
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120 1977-09-05 5 Reuter DETROIT, Sun. Chrysler Corp said It Increased Its 1977 capital spending projection to US$675 million from a previous $640 million forecast, putting this year above the 1969 record of $647 million and 50 per cent above the $450 million Chrysler spent In 1976.Reuter - 120 words
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Article53 1977-09-05 5 AFP OSAKA, Sun. Japan's Yanmar Diesel Engine Co. has received a US$l5 million order from Vietnam for 3,400 tillers and 2,858 marine diesel engines. The 12-horsepower tillers and engines, ranging from 10 to 120 horsepowers In their capacities, will be shipped between October and next March, theAFP - 53 words
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Article51 1977-09-05 5 Reuter LONDON, Sun. The Federal Republic of Nigeria Is raising a US$l billion seven year loan in the Euromarkets with an interest margin of one per cent over London Interbank Offered Rates, Chase Manhattan said. The management group for the loan comprises Chase, Deutsche Bank and Morgan GuarantyReuter - 51 words
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Article46 1977-09-05 5 SYDNEY. Sun. Coal and Allied Industries has lifted its consolidated net operating profit to A 55.55 million from $5.09 million for the year ended June 1977, according to unaudited figures published today. Revenue went up to $115.7 million from $95.14 million last time.46 words
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Article325 1977-09-05 5 Current Ex Date Total for Total for payment Date payable the year previous \eat Selangor Dredging 15% Aug 12 Sept 6 50% 40% Berjaya Kawat 5%TE Aug 16 Sept 9 10%TEb 7.5%TE l id Malacca 18% Aug 23 Sept 10 24% 20% Selangor Properties 8%I Aug 23 Sept325 words
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Article72 1977-09-05 5 LOANS Reuter LONDON, Sun. Ford International Capital Corp has made a US$25 million 4Vi year private placement with a 7-Vb per cent coupon and par pricing. A spokesman for lead manager London Multinational Bank Ltd said. The issue is guaranteed by Ford Motor Co. The placementReuter - 72 words
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Article40 1977-09-05 5 Reuter ZURICH, Frl. A 100 million franc five per cent 15 year loan being floated by Swedish power station company Forsmarks Kraftgrupp on the Swiss market has been priced at 99- per cent, primary market sources said. ReuterReuter - 40 words
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Article64 1977-09-05 5 Reuter LONDON, Sun. Details of the Hapoalim International NV US$3O million floating rate note Issue have been confirmed by the lead manager Bank Hapoalim BM. The notes, priced at par. will carry a minimum coupon of 7-H per cent during the first year and per cent fromReuter - 64 words
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OVERSEAS
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159 1977-09-05 5 AP BUENOS AIRES. Sun. The Argentine subsidiary of Amoco International Oil Co. of Chicago has decided to suspend drilling in southern Argentina because of a dispute with the Argentine military government, the company said over the weekend. This is the first conflict between an AmericanAP - 159 words
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536 1977-09-05 5 Washington Star WASHINGTON, Sun. New press criticism of financial dealings associated with the Carter Administration has prompted a new. shrill tone in the White House counterattack. Unlike a spate of recent stories, the new criticism of bank dealings has not been aimed at BertWashington Star - 536 words
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216 1977-09-05 5 UPI LONDON. Sun. British airports again cancelled 40 per cent of Incoming and outgoing flights yesterday as the nation's air traffic control assistants continued an indefinite strike that is costing airlines a total of £2 million (SsB.s million) a day and causingUPI - 216 words
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Article267 1977-09-05 5 UPI TOKYO, Sun. The Korean delegation to the ninth Japan-Republic of Korea ministerial conference arrived today to attend the two-day session starting tomorrow. Nam Duck Woo, Deputy Prime Minister and Minister of the Economic Planning Board, said In an arrival statement that the governments of the twoUPI - 267 words
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Article115 1977-09-05 5 UPI LONDON, Sun. The national executive of the rulllng Labour Party yesterday called for sweeping fundamental reform of the European Economic Community, but stopped short of urging Britain's withdrawal. The 12-member committee, which has a majority of leftwlngers opposed to the EEC. will seek to turn theUPI - 115 words
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Page 5 Advertisements
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Advertisement122 1977-09-05 5 KUALA LUMPUR Where the byword is service. Fast, efficient, smiling service. A helping hand at your elbow, a warm spontaneous smile with your drink, genuine concern for your comfort and ease. Naturally we've facilities of international standard: luxurious rooms, convention facilities, speciality restaurants serving first-class Continental, Japanese and Chinese cuisine,122 words
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Advertisement151 1977-09-05 5 J f <-A I "V SJI We're the experts in EMM A 1 k. v>r CP r We are unique. Equipped with the latest in technology and the most modern facilities in Singapore, we are able to provide first-class service to shipyards, shipowners and other marine, industrial and petro-chemical industries.151 words
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COMPANY NEWS
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Article, Illustration815 1977-09-05 6 A LITTLE mystery concerning the direction of Gentlng Highlands Hotel's price movement has made market chartists and analysts extremely pusVed With Its $100 million equity capital (out of a total of $420 million for the 15 quoted hotels) it commands about a quarter of the815 words
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Article282 1977-09-05 6 THE following company meetings are due: Jack Chia-MPH Ltd: Sept. 17, 12 noon at the Gardenia Room Shangri-La Hotel, 22 Orange Grove Road, Singapore 10. Alexandra Holdings Ltd: Sept. 17 at 15th Floor, Rooms 1511/1512, Shing Kwan House, 4 Shenton Way, Singapore 1. Central Sugars: Sept. 19 at282 words
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Article151 1977-09-05 6 HUME INDUSTRIES Far East: Pre-tax profits 0f59.68 million ($16,29 million) on gross sales 'of $104.9 million ($114.5 million) for the year ended June 1977. Parent company's pre-tax profit of $7.14 million ($7.36 million) on gross sales of $5.27 million (nil). Final dividend of five cents (five cents) making151 words
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Article2712 1977-09-05 6 1977 Last Week Ur Div Div ur Y'ld Net P/E Week Vol Week High Low Company Sale +or- C'vr cooot High Low SECTION ONE INDUSTRIALS 154 136 Acma 142 -2 12 ON 18 8.4 6.6 18 144 142 204 172 Alcom 172 10.0 0.5 5.82,712 words
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Page 6 Advertisements
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Advertisement176 1977-09-05 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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INTERNATIONAL STOCK MARKETS
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Article522 1977-09-05 7 TOKYO: Share prices closed higher In active trading, on Saturday, extending Friday's gains and in line with the overnight rise on Wall Street, dealers said. The Dow Jones Average gained 4.86 to close at 5,251.41 with volume 230 million shares. The average was the highest since February 1973. The522 words
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Article280 1977-09-05 7 AMSTERDAM: The market closed mixed on Friday with Akzo and Royal Dutch firmer, Hoofoveni unchanged and Philips and Unilever lower In Dutch Internationals. Elsewhere firm spots Included HVA, KLM, Bols and R9V. Nedd lloyd was among easier Issues. State loans firmed. SEPT 02 Fls Ahold 9120 +2.2 Akzo 26280 words
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Article156 1977-09-05 7 BRUSSELS: The market was mixed In quiet end of week trading dealers said on Friday. Local Issues to rise Included Sofina, Union Miniere, Clabecq, GB-INNO-BM and Cometra, but V'ielle Montague, Hoboken, FN and Hainaut-Sambre all fell. UK, American and French issues fell, Germans rose and Dutch showed little changes.156 words
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Article299 1977-09-05 7 FRANKFURT: Shares closed higher on domestic Institutional and private Individual buying, market sources said on Friday. Trading was heaviest In Mannearaann which added five marks and VW which gained 2 80. Profit-taking pared earlier gains for major banks and most engineerings. Chemicals and electrlcals were little changed. Public loans299 words
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Article146 1977-09-05 7 MILAN: The market closed moderately higher in active trading prompted by Interest for flnanclals and insurances after prime rate cuts, dealers said on Friday. In Industrials, Fiat, both Prelli and Montedison closed unchanged after being marginally lower. Mediobanca gained In banks. Bonds generally firmed on fair demand. SEPT 02146 words
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Article338 1977-09-05 7 PARIS: The market was mixed In fairly heavy trade with profittaking the principal factor, dealers said on Friday. Carre four, Beghin, Pr in tempi, All thorn, Creuaot Loire, Usinor and Skis Roiiignol were firm. Babcoek, Bouyguei, Esio, Redoute and Hachette were easier. US stocks, oils and Dutch Issues were338 words
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Article326 1977-09-05 7 ZURICH: The market closed slightly higher on increased volume, dealers said on Friday. Swissair bearer resumed Its upward trend In transports. Leading banks were little changed, but Hypothekenbank Brugg advanced. In spite of heavy turnover. Bally closed barely changed A consortium plans further talks with financier Mr. Werner Rev326 words
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Article360 1977-09-05 7 JOHANNESBURG: Gold shares were narrowly mixed in quiet trade, dealers said on Friday. Mining flnanclals were quiet and mostly unchanged De Beer* shed two cents to 513 on US selling. Coppers were generally firmer, while platinums were unchanged. Tins were unchanged The Industrial market was steady In low volume360 words
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Article337 1977-09-05 7 TORONTO: The Toronto market responded to Wall Street's week-long rally on Friday, closing broadly higher In moderate trading. The composite Index was up more than three points and advances outpaced declines 225 to 125. Hambro Canada eased 1/8 to 55/8, West field Minerals fell four cents to 51.15 and337 words
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Article1215 1977-09-05 7 NEW YORK: The stock market, in a sleepy pre-labour day session. added one more gain on Friday to close out a week that saw the market retreat only once. Investors were encouraged this week by some favourable economic news. Including excellent August retail sales and a 0.1 per1,215 words
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Article1457 1977-09-05 7 On Sept 2 TRADING In options on the Chicago Board Options Exchange came to 62,113 contracts on Friday compared with 72,648 contracts on Thursday. OPTION OCT JAN APL STOCK Alcoa 45 33/8 UNTRD 4 7/8 471/4 Alcoa 50 3/4 '13/4 2 3/8 47 1/4 Alcoa SO 1/161,457 words
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Article74 1977-09-05 7 FINANCIAL TIMES INDUSTRIALS E«d*y 507 5 Thursday 499 i Week Ago 484 5 DOW JONES AVERAGE INDUSTRIALS Friday 872.31 Thursday 864 86 Week Ago 855 42 LONDON DOLLAR PREMIUM Friday 86 to 86W Thursday 85* to 85*« H.K. HANG SENG Friday 435 18 Thursday 429 05 Week Ago 42774 words
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Article357 1977-09-05 7 UPI THE New York stock market scored Its first gain since mid-July last week, but the turnover was the second slowest of the year, Indicating Investors remained uncertain about the Carter administration and the economy. The Dow Jones Industrial average, which had lost 70 pointsUPI - 357 words
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Article269 1977-09-05 7 AFP NEW reflatlonary measures to be announced early this week buoyed up Investors to pace a steady advance of Tokyo Stock market prices through last week. The week's sole slight pause came on Thursday when the 225-stock DowJones Average eased off from a slx-sesslon rally asAFP - 269 words
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Page 7 Advertisements
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Advertisement538 1977-09-05 7 BUSINESS TIMES Airline Directory Aerof lot Soviet Airlines 110-112 Show Contra, Orchard Road, Singapore 9 (Tol: 377.111) Air Ceylon 302-B, 3rd Floor, Marina House Shonton Way, Singapore (1) (Tol: *****88) Ground. FloorV ICS Building, Shonton Way Singapore 1 (Tol: *****11) 18th Floor, UIC Building, Shonton Way, Singapore 1 (Tel: 2205.277)538 words
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COMMODITY REPORTS AND PRICES
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Article189 1977-09-05 8 LONDON, Sun. Prices remained narrowly traded on Friday afternoon In relatively light dealings. The morning's advance followed a sharp rise in Singapore but gave way to long profit-taking. One further tender was posted against September, bringing the total to 145. Physical dealers said only small consumer offtake189 words
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Article123 1977-09-05 8 THE Straits tin price at Penang on Saturday was down $20 to $1,610 on an official offering down 5 tonnes to 190 tonnes In LONDON on Friday afternoon, standard tin finished £147 down for cash and £130 lower for Three Months. The market failed to maintain the morning's123 words
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Article224 1977-09-05 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICL'L ON SATURDAY. Coconut Oil Bulk $77 S sellers, old drum $82 "i sellers, new drum $87 W sellers Copra Mixed (loose) UK/Cont. $48 buyers Pepp«r Muntok ASTA white f o b. 100% NLW $400 sellers. Sarawak white f ob224 words
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Article308 1977-09-05 8 BANGKOK, Sun. Quiet conditions prevailed In the rice-market last week with no new contracts concluded either in the private or government sectors, trade sources said. New bids for Thai rice export are expected, later this week, they said, adding Thailand had agreements to export 30,000 tonnes of parboiled rice308 words
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Article436 1977-09-05 8 LONDON, Sun. Coffee futures closed about steady £4 lower to £85 higher on Friday afternoon. September remained under liquidation pressure to show the only Toss at £2,817. Volume totalled 2,189 lots Including 20 options. Some afternoon shortcovering came In on concern over cold weather in the extreme south of436 words
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Article256 1977-09-05 8 IX)NDON, Sun. Terminal cocoa firmed In active Friday afternoon business to close very steady with gains of £103 to £22.50 per tonne. The advance, Incorporating a £40 limit gain in near Dec at £2,455, was largely influenced, dealers said, by technical shortcovering of spot September. No tenders have so256 words
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Article77 1977-09-05 8 C.I.F Rotterdam prices quoted In London on Friday In US dollars per ton Friday Pi**. Malaysia 5% ffa bulk Nov una 433 sir Sumatra 5% Sept unch 505 sir Oct 450/442.SO pd 455 sir Nov 442 1 i/447 "t pd 440 sir Dec Jan 440 pds unch 43577 words
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Article542 1977-09-05 8 THE kllobar on the Singapore market opened higher on Saturday at SSI 1,090 following the firm closing on the New York market on Friday night. The local market then eased off slightly to close at SJ 11.680. Source: Singmaa Retail prices per tael quoted by the Singapore Chinese Oold542 words
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Article242 1977-09-05 8 LONDON, Sun. Sugar futures declined on Friday afternoon under weekend profit-talcing and general book squaring to close Irregular at or Just above newly established lows for the day. Losses ranged generally from £1.10 to £0.50 per tonne although near October was technically higher at £1.65 up. The turnover totalled242 words
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Article270 1977-09-05 8 CHICAGO, Sun. Soybean futures were up 9'/» to 7V» cents a bushel around midsesslon on Friday but were off the day's highs. Cash market firmness and the possible effects of the heavy rains In the midwest stimulated early local shortcoverlng which took prices into commission house buy stops. Commercial270 words
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Article107 1977-09-05 8 CHICAGO, Sun. Wheat futures registered small gains In early trading on Friday and were up to 1 cent a bushel around mldsesslon. Cash market firmness and export market activity, along with the advance In soybean futures, encouraged early buying which firmed prices. Commercials were sellers at the top of107 words
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Article267 1977-09-05 8 LONDON, Sun. Copper wire bars closed £2 down for cash and £3 lower for Three Months on Friday afternoon. Market sources said that prices held steady around the morning's sllKhtly lower levels with long liquidation being well absorbed as Three Months neared the £690 level. This position finished the267 words
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Article211 1977-09-05 8 LONDON. Sun. Silver closed 0.7 pence up for cash and 0.6 pence higher for Three Months on Friday afternoon. Traders said the market was rather thin with prices moving slightly higher In line with US futures and the steady trend of gold. Three Months finished the ring at the211 words
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Article56 1977-09-05 8 LONDON, Sun. Lead closed £4 down for cash and £3.50 lower for Three Months on Friday afternoon. Dealers said prices generally followed the steady trend of copper In light two- way activity In Three Months which finally traded In the ring at £324.25 per tonne. Ring sales were 1,47556 words
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Article55 1977-09-05 8 LONDON, Sun. Zinc was £2.25 lower for cash and £3 down for Three Months on Friday afternoon. Dealers said the market held steady at Just below morning levels with scattered offerings of three months being well absorbed. Three Months were finally traded at £312 after touching £311 per tonne.55 words
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692 1977-09-05 8 TRADING conditions on the Singapore commodity market remained very much In a state of flux as traders the world over attempt to size up the supply and demand situation. For this and other reasons, Singapore dealers were Just unwilling to commit themselves692 words
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MONEY AND EXCHANGES
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Article198 1977-09-05 8 NEWS that Sweden had left the European Joint float and the Danish and Norwegian crowns were devalued by five per cent each caused some nervousness In the Singapore forex market last week. The US dollar consequently fell generally against the Deutschemark and Japanese yen, and also against the Singapore198 words
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Article36 1977-09-05 8 acbc 6 CI 6*< 7 HSBC Bank of America •H Indosuez 7 fi'. 6'< Bank Negara (K'BC Indonesia 7 OUB 6 1 UCB 7 6'< UMBC 7 DBS Si. 1 OB fi>. 136 words
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Article243 1977-09-05 8 Asian rates LAST week ,day to day funds were well bid to move the shorter periods 1/16 higher at close. Otherwise rates held steady in a quiet week. ASIAN currency average deposit rates for the week ended Sept 2 US Dollar. (Bid Price*) High Low 7-day 8 3/16 5 1/4243 words
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Article397 1977-09-05 8 Source: National Discount THE easy money market condition experienced during the previous week was short-lived when the Interbank rates firmed up considerably last week following month-end cash withdrawals. Another factor attributed to the higher rates was the excess liquidity siphoned out through the purchase of short-dated Treasury bills.Source: National Discount - 397 words
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Article639 1977-09-05 8 ZURICH, Sun. In the wake of the devaluations of the Scandinavian currencies the Swiss franc and the D-mark last week rose considerably, though only temporarily. On balance, they closed the week nearly unchanged, though the Swiss franc finished somewhat lower. The dollar recorded sharp fluctuations In both directions during639 words
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Article240 1977-09-05 8 LONDON, Sun. Sterling slipped by seven basis points to SI .7417/19 In late afternoon trading on Friday after the Bank of England, which adopted a twoway Intervention stance during the day, appeared to withdraw from the market shortly after 4 pm local time, dealers said. Trading volume was not,240 words
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Article157 1977-09-05 8 NEW YORK. Sun. The dollar, which opened slightly lower, gained ground to close marginally higher In light trading on Friday, dealers said. They said the comeback was technical, as operators moved to square positions before the three-day Labor Day weekend. One dealer also said most currencies were taking157 words
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Article117 1977-09-05 8 Euro rates LONDON, Sun. Eurodollar deposits were slightly lower in quiet trading on Friday, dealers said. Period rates were generally marked down 1/16 point In line with the easier federal funds rate. Day to day rates also eased and overnight was traded around 1 15/16 2 1/16. LONDON Eurodepoelt c'oslng117 words
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Article33 1977-09-05 8 FRANKFURT exchanges closing quotes on Sept 2 US 2.3180/90 Can 2.1585/1005 UK 4.034/044 Neth 94 68/78 Swltz 96.86/96 Italy 2.626/636 France 47.26/38 Japan 0.8648/58 Beig com 6.496/506 Belg fin 6.4950 Norw 42.34/4433 words
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Article53 1977-09-05 8 OVERNIGHT fund trading have slackened with business revolving around the 4 Cr cent level throughout it week. As the bond Issue date draws nearer taking interest was felt In the onemonth with business mainly at per cent. Twos and threes have remained rather quiet to close at 4%53 words
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Article40 1977-09-05 8 FOR the week ended Friday Sept 2, the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND 4% to 7H% GENERAL FUNDS 3*% to 6% Movement of funds totalled $558 million.40 words
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Page 8 Advertisements
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Advertisement309 1977-09-05 8 from Penguin II Mi u IN PENGUINS Vukio 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, is309 words
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Article1077 1977-09-05 9 GERRY FRANCIS SAYS Sunday Express GERRY FRANCIS has been living on the dark side of the glory game for a painful, worrying 16 months. There were times when he thought that his career as captain of England and Queen's Park Rangers was over. ASunday Express - 1,077 words
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Article763 1977-09-05 9 LONDON, Sun There were some quick goals In the English League soccer matches yesterday. Ray Kennedy headed one In 75 seconds for Liverpool against Birmingham and It took only 90 seconds for Don Gtvens to get one for Queen's Park Rangers against Leicester. Frank763 words
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Article, Illustration397 1977-09-05 9 DUSSELDORF, Sun. A World record by the United States 4 x 100 metres relay team, the dramatic defeat of Olympic champion John Walker cf New Zealand in the men's 1,500 metres and a bungled start to the men's 400 metres race, kept the 50,000 spectators397 words
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669 1977-09-05 9 THE presence of Graham Alhs in the Singapore OoU Association trials has surprised many players and officials Graham, (handicap three) a term member of the SICC ($5,000 a year), was not In the original squad of players named by A club officials said:669 words
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Article, Illustration733 1977-09-05 9 Sunday Express HAVE YOU examined the grooves on the face of your iron clubs with more than usual care before this weekend's game? You should have, you know, because all the best people in the golf have been doing so Tom Watson, GarySunday Express - 733 words
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Page 9 Advertisements
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Advertisement289 1977-09-05 9 ycu ARE INVITED to the First International Exhibition of Business Equipment Services in Southeast Asia >4B£X" >ISWN BUSINESS EXPO September 7,8,9,10,1977 Hyatt Singapore Hotel Convention Centre A Rewarding Event for Business Personnel in Industry, Retailing, Wholesaling, Commerce 165 DISPLAYS,.. 165 DISPLAYS... of equipment and systems for data processing, copying, word289 words
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Advertisement409 1977-09-05 9 Let's Talk About Accounts Receivable Loan and Factoring We are pleased to announce that Heller, in adding more flexibility to its existing factoring service, is now providing also Actounts Receivable Financing. This means that there are now 2 ways Heller can increase the flow of cash intoj your business through409 words
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1032 1977-09-05 10 THREE RECENT projects appear to have changed radically the pattern of Japanese Investment In Singapore. Before these, Japanese Investment followed the same pattern as American and other foreign businesses. Mr. Charles R.Stevens, speaking over the weekend at the seminar on "Law of International1,032 words
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Article, Illustration764 1977-09-05 10 RUSSIAN-MADE cars will be marketed for the first time In Singapore before the end of this year by Henry Ang Agencies. The enterprising managing director and founder of the company, Mr. Henry Ang Thlan Huat, told Business Times that this follows the securing of sole agency rights764 words
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186 1977-09-05 10 BEN and Company is thlnklng of reducing its dependence on food lines and broadening its range of merchandise. Its managing director, Mr. O. Sathla Nathan, says the group does not wish to stay only in food. Since the takeover of Ben by Straits186 words
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426 1977-09-05 10 AFP LONDON, Sun. The British Prime Minister, Mr. James Callaghan, said over the weekend that a new economic summit may be necessary because Western nations have failed to ftilfll commitment agreed upon at last May's London meethig. Speaking in Glasgow during aAFP - 426 words
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Article121 1977-09-05 10 A GERMAN machine manufacturing company advertised over the weekend for Singapore partners with minimum capital participation of DM 5 million (555.3 million). The company, founded In 1909, makes food processing equipment, distributed worldwide, especially to South-east Asia. The manufacturer, with two factories back home, is now121 words
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361 1977-09-05 10 Reuter WASHINGTON, Sun. A Concorde policy memorandum being prepared for President Carter Includes a proposal that the AngloFrench supersonic airliner should be allowed to land at 12 US cities, a White House spokesman said over the weekend. The spokesman said a report to thisReuter - 361 words
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Article465 1977-09-05 10 AP TOKYO, Sun. Some of the world's top shipbuilders, suffering from a severe business slump, are battling over a flourishing new industry floating factories. Builders In Europe, Scandinavia, Japan and the United States are offering complete, ready-to-go factories In nearly any field, built in the big shipyards,AP - 465 words
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318 1977-09-05 10 UPI TOKYO, Sun. The Agriculture Forestry Ministry plans to place sugar as an Item on the Import restriction list to help the recession-stricken local sugar Industry, the Yomlurl Shlmbun newspaper said today. It said the plans call for Japan to reduce Its annualUPI - 318 words
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213 1977-09-05 10 KUALA LUMPUR. Sun. The newly-formed SouthEast Asia Insurance Berhad has announced that it has assumed policies issued by the collapsed First General Insurance (M) Bhd. with effect from Thursday. In a statement yesterday, Its board of directors called on all FOI policyholders who had213 words
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Article576 1977-09-05 10 ARRIVALS Service Local Operator Number Time From SIA SQ582 0035 MAA/CMB CPA CX003 0145 HKG SAS SK097 0640 CPH/THR/BKK MAS MH682 0810 KCH CPA CX710 1000 HLP OIA GA980 1030 HLP THAI TG423 1035 BKK SIA SQ211 1045 HLP GIA GA944 1055 PKU GIA GA908 1100 MES576 words
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Page 10 Advertisements
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Advertisement12 1977-09-05 10 4th Ami SaMa «M Orchard Tawtri T«t: *****81. 2157M2. 2357M3 lilt SJ12 words
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Advertisement220 1977-09-05 10 Success in today's world of business calls for a constructive approach to financing, a sound knowledge of the available markets, and original ideas. These are the strategic qualities that Wardley can provide throughout Asia. Wardley Limited, backed by the resources and experience of The Hongkong Bank Group, can offer financial220 words
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