The Business Times, 12 September 1977
1977-09-12
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The Business Times
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Title Section10 1977-09-12 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, SEPTEMBER 12, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article86 1977-09-12 1 AFP LONDON, Sun. Four thousand Independent bakeries fear they may have to stop production on Wednesday if strikers from the Bakers, Food and Allied Workers' Union begin picketing the mills which supply them with flour. As the British bread strike swung Into its second day throughoutAFP - 86 words
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Article67 1977-09-12 1 AFP DACCA, Sun. Bangladesh and Vietnam have identified five major areas of economic and technical cooperation between the two countries. The areas of cooperation, Identified at a twohour meeting between a visiting Vietnamese delegation and Bangladesh officials yesterday, include economic planning, organisation of "new economic zones" in VietnamAFP - 67 words
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Article55 1977-09-12 1 Reuter LEIPZIG, Sun. East Germany is becoming Increasingly desperate for hard currency and its debt to the West is close to the maximum it can control. These were the conclusions of a number of Western businessmen and bankers at the end of this week's Leipzig trade fair, Europe'sReuter - 55 words
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Article69 1977-09-12 1 Reuter SYDNEY, Sun. The Premier of New South Wales, Mr Neville Wran, claimed today that Japan was more interested in buying Australian coal than uranium to staisfy her energy needs. "Japan realises that not only are we going to have trouble in Australia in respect of theReuter - 69 words
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Article59 1977-09-12 1 TAIPING, Sun. Taiping Aerodrome will be given a M$ 100,000 facelift to open it to civil aviation again after a long lapse. The facelift includes fencing the aerodrome, repairs to the terminal building and upgrading of existing facilities and the airstrip, the Deputy Primary Industry Minister and59 words
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Article101 1977-09-12 1 UPI PARIS, Sun. The results of a poll taken among a representative sample of the heads of French companies by the Louis Harris Institute and published by the weekly news magazine, Express, showed that 68 per cent of those approached are "quite pessimistic" and 10 per cent "veryUPI - 101 words
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Article74 1977-09-12 1 Reuter KUALA LUMPUR, Sun. The Supreme Council of the United Malay National Organisation (Umno) has suspended all its four party divisions in Malacca, it was announced here today. The move came after 11 dissident Assembly members eight of whom were leaders in the four suspended party divisions petitionedReuter - 74 words
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Article64 1977-09-12 1 Reuter TEL AVIV, Sun. A sudden Israeli passion for playing the stock market has increased trading ten-fold on the Tel Aviv stock exchange. The average dally turnover of US$3OO,OOO (*****,000) a day Just a year ago has shot up to $3.5 million a day over the past month.Reuter - 64 words
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Article43 1977-09-12 1 Reuter TOKYO, Sum. Japan is likely to face strong united pressure to take more effective steps to reduce its huge foreign trade surplus during highlevel bilateral talks opening here tomorrow on the world economic situation and US Japanese trade relations. Reuter.Reuter - 43 words
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Article117 1977-09-12 1 THE following list of stocks gives the 10 most traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units, closing prices on Friday and the high and low for 1977. Company Turnover Price* Hich Low 000 Sept 9 It77117 words
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LOCAL STOCK INDICES
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Article70 1977-09-12 1 Au(5 Aag Aug 7 A^S Aug* ft BT Index: 430.30 429.63 430.94 428.90 427.01 Industrials: 268.00 207.08 200.77 280.20 205.00 Finance: 445.53 444.77 444.77 444.11 443.83 Hotels: 171.50 171.07 170.88 170.71 170.82 Properties: 100.90 109.59 188.78 107.81 107.57 t Tins: 130.48 128.88 129.11 129.34 130.41 t S rubbers: 388.7370 words
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Article82 1977-09-12 1 Sept 5 SaptS Sept 7 8«pt8 Saftt tt BT Index: 474.59 476.25 478.14 470.59 473.50 Industrials: 294.06 293.89 293.39 293.45 293.16 Finance: 387.16 385.91 383.94 380.81 382.37 Hotels: 175.54 175.54 175.54 17S.54 175.54 Properties: 153.40 153.79 154.76 153.20 153.90 t Tins: 134.96 134.64 134.84 135.02 135.25 t S rubbers:82 words
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Article1218 1977-09-12 1 SOH TIANG KENG - RECESSION WOUNDS STILL HURT By SOH TIANG KENG THE present health of the world economy Is better than one or two years ago. But It Is still unsatisfactory by past standards as most nations are still nursing their economic wounds inflicted by recession,1,218 words
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955 1977-09-12 1 THE EUROPEAN Economic Community/Asean seminar on the Transfer of Technology Is a new type of venture In Euro-Asean cooperation. This was said by Mr. M Depasse, the Belgian Ambassador to Singapore, at an Inaugural dinner held last night at the Goodwood Hotel to begin955 words
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224 1977-09-12 1 HONGKONG, Sun. A new investment banking and management consultancy organisation which win link Asian borrowers with North American banks has been set up In Hongkong. Called Linker Assoc la tee, the company Is established by Chase Manhattan Bank's area director for Bouth and South-east Asia,224 words
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285 1977-09-12 1 SINGAPORE traders should adjust their methods of export promotion from just exporting towards export marketing if they want to sell succesafully overseas, a senior management consultant has urged. Speaking at a seminar held in conjunction with the Asian Business Exposition (ABEX '77) at285 words
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337 1977-09-12 1 THE days when developers profited not only on the sale of completed flats but also on the provision of maintenance services may well be over. With the coming into force of the Land Titles (Strata) Act 1976, all developers are required to submit applications337 words
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Article92 1977-09-12 1 Reuter HONGKONO, Sun. Hongkong's domestic expbrts in the first seven months this year totalled HK519.172 million (SSIO.I billion), an Increase of 7.7 per cent over the corresponding period last year. Imports, totalling $27,678 million also showed an Increase of 13.9 per cent. Hongkong's domestic exports to theReuter - 92 words
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Page 1 Advertisements
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Advertisement61 1977-09-12 1 ®Wiyfbong hand when Wayfoong Mortgage you need and Finance (Singapore) Limited it IllOSt Shaw House. Ground Floor. 354 Orchard Road. Singapore 9. Tel: *****7. I j M 5;. Leisure/ TV A Radio -P2 Oversea* Markets/ Leisure/ Crosswords -P3 Share Information -P7 Features -P4 Commodities -P8 International Co New*/ Sports -P»61 words
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Advertisement32 1977-09-12 1 •c ■•II •IKS WvJ \mrz •IKS ov ni»i» Bpfflggß ■H MRPES ?m -v??4 Shenton Way ID. Tel: *****55 541 Orchard Road (9). Tel: *****2 505 Yung An Rd.. Jurong (22). Tel: *****232 words
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Advertisement153 1977-09-12 1 jjj American Bank We work hard to make your money work for you American Express International Banking Corporation Sting K*an House 4 Shenton Way Singapore i Te< 220 2311 Teiei RS2lo74Cafcie AMEXRANK I iTi to the lIS. Canada. NEW YORK VANCOUVER X m I: *.Vv fv 5 i. h *y153 words
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REVIEWS
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Article637 1977-09-12 2 LAST week's dialogue between Asean and the United States in Manila was the first formal discussion between the world's most important economic unit and the regional group. For that reason It was of great significance. As Philippine Foreign Secretary, Carlos Romulo, said, "It was a historic dialogue." Compared637 words
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1195 1977-09-12 2 NYT EDINBURGH: Recently, the Edinburgh Festival was forced to cancel one of two scheduled performances of Heinrlch Von Klelst's comedy "Das Katchen Von Hellbronn," by the Stuttgart State Theatre. After a remodeling Job that cost more than US$l.l million (552.7 million), emergency lighting systemNYT - 1,195 words
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Article855 1977-09-12 2 NYT NEW YORK: Luggage used to be forever. It arrived almost of its own accord when people came of age. or got married, and It never went away again. To be seen with new luggage in middle life was thought of as pretentious and unbecoming.NYT - 855 words
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Article631 1977-09-12 2 By CKT THE PLEASURES of drink will do nothing to tip the hesitant beginner over into more regular rounds of classical-music listening. There was this fellow willing to try anything once who volunteered for the agony of Mahler's Song of the Drunkard in Spring.By CKT - 631 words
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Article, Illustration860 1977-09-12 2 NYT NEW YORK: There are great artists who divide opinion. People are for or against Wagner, for instance. They are for or against Charles Dickens. They are for or against the paintings of ingress. They can think that Victor Hugo goes on tooNYT - 860 words
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Article, Illustration1642 1977-09-12 3 CONSIDERED SECOND-CLASS CITIZENS NYT NEW YORK: The Japanese elevate their finest actors to the rank of national living treasure. In England, actors can earn knighthoods. In America, the actor has no such honour to look forward to. This does not mean to suggest that thereNYT - 1,642 words
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Article, Illustration1562 1977-09-12 3 MONDAY: In the dawn's grey light my friend smiles at me. showing large yellow teeth. I reach into my pocket and proffer the small gift he has anticipated. Carrots. I give him only one now two more In an hour or so. after I have ridden old1,562 words
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689 1977-09-12 3 Britain's newest generation of playwrights are tough and uncompromising. The future of the British theatre is in their hands. If they do not mellow, tough times are ahead. UPI LONDON: A steady stream of recent stage productions In London has thrown the spotlightUPI - 689 words
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Page 2 Advertisements
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Page 2 Miscellaneous
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Miscellaneous42 1977-09-12 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Sept II at Singapore airport. Maximum Temperature Associated Humidity Minimum Temperature Associated Humidity Hours of Sunshine Rainfall in Millimetres Total Rainfall for the Month Total Rainy Days for the Month42 words
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Miscellaneous282 1977-09-12 2 RADIO TV SINGAPORE 5 3.00 PM Opening announcements followed by Kudumba Malar (Tamil Repeat) 3.35 Diary Of Events (Tamil) 3.40 Afternoon Matinee The Titfield Thunderbolt (Pt. 1) Starring: Stanley Holloway, George Relph, Huge Griffith 4.30 Intermission 6.10 Opening announcements followed by Inquiry The Arts And You II 6.30 News in282 words
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Page 3 Advertisements
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Advertisement142 1977-09-12 3 The international bank with your interests at heart: >ver 46 billio al experts rea eart. DKB representat m 9 w I L- undeß6rouNt OkM r.i K STATION I > i* ft t i i I i; j! V" *s S„ i«4Lk 1 G ii MiQN si* 5 l\^\3 wn vii.~i142 words
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Page 3 Miscellaneous
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Miscellaneous408 1977-09-12 3 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 1 Australian scientist? (6) 7An original-looking travellers? (8) 8 You're beaten, chum (4) 10 Protected when posted (6) 11 King who backed All after a race (6) 14 Green area (3) 16 Emblematic motet composition (5) 17 Do hiss as y 17 Do hiss as408 words
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Article, Illustration1132 1977-09-12 4 JOHN DAVY - IDEA OF INTERMEDIATE TECHNOLOGY By JOHN DAVY OFNS LONDON: Just over 12 years ago, Fritz Schumacher, wno died, aged 67, suddenly and unexpectedly In Switzerland this week, launched his Idea of an Intermediate technology for the Third World In an article In the Observer headlinedOFNS - 1,132 words
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Article, Illustration151 1977-09-12 4 MANY industrialized nations are recurrently accused of raking in huge sums through exports without simultaneously seeking to balance these earnings on the import side of the trade ledger. These critics like to overlook an "invisible export" with the opposite effect on trade balances: the151 words
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Article960 1977-09-12 4 KEEPING THE DESERTS AT BAY Deserts can be very aggressive, marching into fertile areas at the rate of as much as five kilometres a year. Countries like Sudan must either fight them or join them. A group of young English volunteers from an antidesert organisation called "Green Deserts"FT - 960 words
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Article1040 1977-09-12 4 Washington Star WASHINGTON: With sur-gical-llke precision, the Federal Trade Commission (FTC) operated on the white-coat image of doctors last week by portraying them as businessmen who fight over contracts and haggle over prices. In a little-noticed legal brief, the FTC staff attempted to outline theWashington Star - 1,040 words
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Page 4 Advertisements
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Advertisement343 1977-09-12 4 FROM FEDERAL PUBLICATIONS LIM B/AN YAM tm. ,3 mh a step-by-step guide An easy-to-understand yet fully rewarding book on flower arrangement. Floral Creations, with its unusually lucid text and thoughtful illustrations, could make an expert flower arranger of even the veriest novice. The joy of this book, however, is that343 words
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473 1977-09-12 5 Reuter LONDON, Sun. British Prime Minister, Mr. James Callaghan said he was "delighted' with Ford Motor's decision to build a new £180 million engine plant at Bridgend, Wales "after considering many other countries In Europe." It was "a positive and dramatic expressionReuter - 473 words
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Article123 1977-09-12 5 Reuter GREENVILLE, Sun. Mlchelln Tire Corp said It plans to Increase production capacity at Its radial tyre manufacturing plant here by 25 per cent. The company said construction to expand facilities Is expected to start In early 1978 and will create more than 500 newReuter - 123 words
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OVERSEAS
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981 1977-09-12 5 NYT NEW YORK, Sun. In the confusion over many conflicting economic statistics issued during the summer months, a deepening sense of caution has arisen among investors and some business analysts, as well as an excessive level of concern about the apparently negative aspects of theNYT - 981 words
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367 1977-09-12 5 UPI TOKYO, Sun. Saudi Arabian Oil Minister, Sheik Ahmad Yamanl, has disclosed that his country will limit its dally crude oil output to about 8.5 million barrels in the near future> Japanese newspapers reported today. The papers also said Sheik Yamanl indicated an agreementUPI - 367 words
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177 1977-09-12 5 UPI WASHINGTON, Sun. Legislation to boost the share of oil Imports carried to the United States by U8 flag vessels will hike domestic oil prices by twice what the Carter Administration forecasts, the Federal Trade Commission says. The agency said consumers would spend about U*****UPI - 177 words
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Article256 1977-09-12 5 AFP LAOOS, Sun. Nigeria's revenue from oil, US$7.O billion (8510.3 billion) or 00 per cent of all foreign exchange earnings last year, will Increase by approximately $1.2 billion this year, according to an authoritative forecast. Managing director Festus Marlnho of the Nigerian National Petroleum CorporationAFP - 256 words
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Article107 1977-09-12 5 UPI ROME, Sun. Italy's trade balance was In the black In July for the second straight month after 10 months of deficits, the government said over the weekend. Oovernment statistics showed that the balance for July was 285 billion lire (***** million), compared with June's 82 billionUPI - 107 words
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Article92 1977-09-12 5 Reuter NEW YORK. Sun. US Steel Corp In response to an Inquiry, said It plans to file a complaint with the Treasury Department next week that alleges Japanese producers dumped steel products In the US. A company spokesman said no further details were availableReuter - 92 words
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Article95 1977-09-12 5 Reuter WASHINGTON, Sun. The Federal Trade Commission said second quarter after-tax profit of manufacturing corporations rose to US$l9.7 billion, up 54.1 billion from the preceding quarter and up $1.6 billion from the yearago period. After-tax profit averaged 5.8 cents per dollar of sales in the second quarter,Reuter - 95 words
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Article49 1977-09-12 5 Reuter LONDON, Sun. General Electric chairman Lord Nelson said its current year's performance Is in line with last year. Consumer products and telecommunications are still dull but other divisions are progressing along lines similar to last year, he told reporters after the annual meeting. ReuterReuter - 49 words
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429 1977-09-12 5 UPI NEW DELHI, Bun. The K" int multinational IBM rpo ration said that the future of Its Indian operations are still under negotiation with the government and It has no plans to shut down unless ordered to do so. The Indian branch of Coca-Cola IsUPI - 429 words
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Bonds
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Article127 1977-09-12 5 Reuter LONDON, Sun. Natomas Company announced Its subsidiary Natomas International Corporation, will float a US$3O million Eurobond at an indicated coupon rate of eight per cent Lead managers are Swiss Bank Corporation (Luxembourg) and Salomon Brothers International. Co-managers are Amsterdam Rot terdamh bank NV, Banque National deReuter - 127 words
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Article74 1977-09-12 5 Reuter DUSSELDORF, Sun. The 60 million mark SV« per cent 10-year convertible Eurobond for Jujo Paper was priced at par, lead manager Westdeutsche Landesbank Olrozentrale said. The bonds are convertible Into the company's ordinary shares from Nov 1, 1977 at 274 yen per share. The closing share priceReuter - 74 words
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Article75 1977-09-12 5 Reuter ZURICH, Sun. Swiss Aluminium Australia, Sydney, (Austraswiss), will float another 100 million franc 15-year loan on the Swiss market from Sept 20 to 23, lead manager Schwelzerlsche Kredltanstalt said. Coupon and issue price will be set later. The bank said Austraswiss decided to float the loan afterReuter - 75 words
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Article80 1977-09-12 5 Reuter LONDON. Sun. The Bank of England announced the issue of £1 billion 12 per cent Treasury tap stock maturing In 1995 at £96V* per 100. The stock Is payable as to £30 on application and the balance on Oct 11,1977. The redemption yield Is 12.49 perReuter - 80 words
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Article53 1977-09-12 5 FRANKFURT, Sun. Olrozentbale Und Bank Der Oesterrelchlschen Sparkassen of Vienna plans to float a 100 million mark five-year Eurobond next week, bond market sources said. A 5Vt per cent coupon Is probable based on present conditions, but preliminary terms will not be fixed until Monday. Lead manager is53 words
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Article576 1977-09-12 5 NYT NEW YORK, Sun. Faced with a veritable mountain of copper that has caused prices to tumble, US producers have begun to Idle their workers and mines in an attempt to cut costs and whittle Inventories. In one of a string of recent developments.NYT - 576 words
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235 1977-09-12 5 AP ASHLAND (Ohio), Sun. Chemical researchers predict that by the mid1980s, about 85 per cent of the family car will be made of rubber or plastic stuck together the way children build plastic models. Researchers at the Goodyear Tire and Rubber adheslvesAP - 235 words
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Article51 1977-09-12 5 AP TOKYO, Sun. Isuzu Motors of Japan said it has signed a contract with General Motors Overseas Distribution Corp. a subsidiary of Oeneral Motors Corp., to Import and market in Japan GM's Chevrolet car. Isuzu officials said Isuzu plans to sell about 50 cars a month beginning next January.AP - 51 words
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Article117 1977-09-12 5 Reuter JOHANNESBURG, Sun. Krugerrand sales totalled 273,020 coins In August, down from 313,030 in July, but up on the 213,070 of August last year, International Gold Corp manager Don McKayCoghlllsald. At around current gold production levels, this means the coins accounted for some 14.19 per cent ofReuter - 117 words
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Article26 1977-09-12 5 ZURICH, Sun -The 50 million franc 4* per cent 12-year convertible loan issued by Georg Fischer Ag at 99 per cent was considerably oversubscribed.26 words
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Page 5 Advertisements
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Advertisement206 1977-09-12 5 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 financial206 words
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COMPANY NEWS
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545 1977-09-12 6 THOUGH group pre-tax grofit at Datuk' Keramat Holdings, the tin smelting concern which also has substantial investments In tin mining shares, moved ahead by 11 per cent in the six months ended July 31, 1977 to M 59.16 million from $8.24 million previously, the Increase545 words
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Article157 1977-09-12 6 GENERAL Timber Processing (M), a whollyowned subsidiary of General Lumber Holdings, has sold 3,100 hectares of land in Petaling Jaya to Dumex for the consideration of M 52.58 million. In a letter to the Kuala Lumpur Stock Exchange, General Lumber says the sale includes the building157 words
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150 1977-09-12 6 LIEN HOE Industries has entered Into an agreement to acquire twcpleces of land totalling over 14.5 hectares situated in the Mukim of Tebrau, Johore Baru. The land, according to the company, is suitable for housing development and Lien Hoe plans to Incorporate150 words
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Article53 1977-09-12 6 UNITED Engineers has sold 49,000 of its 51,000 $1 shares holding in United Dredging Management to Indonesian Mineral Development for a cash consideration of $490. The company says that the sale, which represents 49 per cent of Its stake In UDM, has resulted In UDM ceasing to53 words
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COMPANY MEETINGS
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Article25 1977-09-12 6 THE following company meetings are due: Sept. 17, 12 noon at the Gardenia Room Shangri-La Hotel, 22 Orange Grove Road, Singapore 10.25 words
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Article18 1977-09-12 6 Sept. 17 at 15th Floor, Rooms 1511/1512, Shlng Kwan House, 4 Shenton Way, Singapore 1.18 words
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Article17 1977-09-12 6 Sept 20 at the Cempaka Room, Hotel Equatorial. Jalan Sultan Ismail, Kuala Lumpur, Malavlsa.17 words
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Article23 1977-09-12 6 Sept 21 at 10.30 a.m. at the Registered Office, 12th Floor. Yee Seng Building, Jalan Raja Chulan, Kuala Lumpur.23 words
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Article11 1977-09-12 6 Sept. 19 at the Registered Office, Batu Tlga, Selangor.11 words
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Article358 1977-09-12 6 Current Ex Date Total for Total for payment Date payable the year previous year Selangor Properties 8%I Aug 23 Sept 18 8%I 16% Alexandra Holdings 5% Sept 6 Sept 19 5% 5% C. Sugars 10% Sept 5 Sept 29 15% nil International Wood 10%TE Aug 8 Sept 30358 words
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295 1977-09-12 6 MALAYSIAN Feedmills' latest Interim results must have been a big letdown to shareholders who had oeen led to expect further growth in the group's profit In the current year. For the six months ended June 30, 1977 unaudited group pre-tax profit after minority interest295 words
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Article2657 1977-09-12 6 1977 Hi|k Low Company Last Sale Week ♦oeGr'» div Div c'rr Gr'i y'U Net P/E Week Vol (000) Week Hi«h Low SECTION ONE INDUSTRIALS 154 204 116 238 88* 198* 169 224 414 171 136 172 58 212 57* 155 152 182 350 145 Acma2,657 words
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Page 6 Advertisements
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Advertisement14 1977-09-12 6 it m > i i 1 fi V t > 0 Amsterdam the perfect connection I14 words
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INTERNATIONAL STOCK MARKETS
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Article461 1977-09-12 7 TOKYO: The market closed slightly lower on Saturday, u big-capital issues continued to fan on liquidation, dealers said. The Dow Jones average lost 1.59 to 5,196.13, with volume 140 million shares The New Index closed at 385.32, down 0.37. Some speculative* turned upwards towards the close on cheap buying,461 words
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Article270 1977-09-12 7 AMSTERDAM: Prices fell across-the-board on Friday, in line with the decline on Wall Street, dealers said. Royal Dutch led Dutch Internationals 2.40 guilders lower. Elsewhere, shares fell although Insurances were mixed. Abmv rose 0.80 guilders exdlvldend after announcing higher first half profit. Nationals Nederlanden also rose while Amfas was270 words
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Article154 1977-09-12 7 BRUSSELS: Share prices cloaed mixed to lower In moderate trading on Friday, bourse sources said. Reserve, Traction, Asturienae and St. Rock rose but Cok spa, Vieile Montagne, Hoboken. FN, CBR and Tabaeoflaa all fell. Oold mines and UK shares fell on proflttaklng and In other foreign stocks Dutch, German,154 words
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Article272 1977-09-12 7 FRANKFURT: Shares lost up to three marks In dull trading on Friday, dealers said. Among leading shares, AEG rose 0.30 marks while major chemicals lost between 0.40 and one mark. Deutsche Bank lost three marks, Siemens and VW 2.50 and Mannesmann 2.30. Public authority loans were between 0.20 marks272 words
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Article154 1977-09-12 7 MILAN: The market closed slightly higher In selective but subdued trading on Friday, dealers said. Fist, Snia Viscosa. both Pirelli and Olivstti privileged were among leading Industrials to show some gains while Maatedison and Olivstti ordinary eased. Assicurasioni General! gained In well disposed Insurances as did Mediobanca in banks.154 words
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Article345 1977-09-12 7 PAR 18: The market was lower on Friday, following opinion polls showing the left wing Alliance continues to hold over 50 per cent of the electorate, dealers said. Another poll which shows most employers remaining pessimistic about economic prospects contributed to the weaker trend, which was led by foods,345 words
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Article275 1977-09-12 7 ZURICH: The market ruled barely steady In quieter trading than of late with profit-taking paring some shares on Friday, dealers said. Swissair closed steady but banks edged lower. Among flnanclals, both Bally stocks lost some ground but OerlihoaBuehrie was steady In quieter trade. In Irregular Insurances, National continued higher275 words
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Article368 1977-09-12 7 JOHANNESBURG: Oold shares eased on Friday, reflecting lower bullion advices and little overseas buying Interest, dealers said. In financial minings TC Lands gained 30 cents to 1,900 and Anglo* was two cents lower at 453. De Boers eased six cents to 506, while Anamint lost 50 cents to 5,400.368 words
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Article364 1977-09-12 7 TORONTO: The market closed sharply and broadly lower on Friday, In the busiest trading since July 20. The composite Index was down more than seven points and losses led gains 238 to 158. Noranda A fell 1 1/8 to 22 1/2 and Shell Canada lost 1/2 to 15 while364 words
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Article1159 1977-09-12 7 NEW YORK:' The stock market drifted Into a sharp and broadly based decline on Friday, pushed by growing investor concern about the economic outlook. The Federal Reserve helped trigger the action on Thursday after the market close when It reported an unexpectedly large Increase In U8 money supply1,159 words
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145 1977-09-12 7 BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 4, 1971 100) 1977 HIGH LOW INDUSTRIAL GROUP Week E V% Dded V* Poiat Change 210.59 496.57 164.62 228 39 294 16 219.47 715.93 139 03 131 85 110.50 390 98 297 66 145 90 362 06 135 80 181.16 221 37145 words
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Article1193 1977-09-12 7 On Sept 9 TRADING In options on the Chicago Board Options Exchange came to 94,227 contracts on Friday, compared with 65,669 contracts on Thursday. OPTION OCT JAN APL 8TOCK Alcoa 49 UNTRD UNTRD 41/4 401/2 Alcoa 90 7/10 17/18 21/8 401/2 Alcoa 00 1/10 UNTRD UNTRD 401/21,193 words
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Article63 1977-09-12 7 FINANCIAL TIMES INDUSTRIALS Friday 530.1 Thursday 529.0 Week Ago 507.5 DOW JONES AVERAGE INDUSTRIALS Flrday 857.07 Thursday 868.18 Week Ago 872.31 LONDON DOLLAR PREMIUM Friday 88 to 88%. Thursday 87* to 87"* H.K. HANG SENG Friday 428.95 Thursday 428 79 Week Ago 435 18 SYDNEY INDUSTRIALS Friday 372.27 Thursday63 words
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Article351 1977-09-12 7 NYT PRICES on the New York stock market plunged last week amid fears of another possible credit-tightening move by the Federal Reserve Board. At the close of trading on Friday, the Dow Jones Industrial average was down 15.24 points for the week to 857.07. WeaknessNYT - 351 words
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Article321 1977-09-12 7 AFP TOKYO stock prices took their first substantial loss in six weeks amid a spate of adverse news, including a decision by major steel mills to pay no interim dividends. The market got off to a promising start last Monday when the Dow Jones average climbedAFP - 321 words
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Page 7 Advertisements
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Advertisement154 1977-09-12 7 ROPE and UK/IRELAND 1 p H U>'Ml* S3Td ROYAL DUTCH AIRLINES G2 Mandarin Hotel Arcade, Orchard Road, Singapore 9.Tel: *****1 Gl6 Kompleks Antarabangsa, Jalan Sultan Ismail. Kuala Lumpur, Malaysia. Tel: *****1 From Amsterdam, you can take a connecting flight straight to the ajrport at or nearest your hometown. By avoiding154 words
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COMMODITY REPORTS AND PRICES
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Article288 1977-09-12 8 LONDON, Bun. Rubber finished the day Irregular up 0.25 to down 0.00 pence Kr kilo on volume of 301 ts on Friday. Jan/Mch closed at Its high of 60.40 Bnce after selling as low as .80 pence. Early afternoon commission house buying pushed prices up then trade288 words
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Article42 1977-09-12 8 Tin Tonne Sept. i Sept. Sept. 7 Sept. 8 Sept.* 11.991 195 206.90 200.90 81.980 221 214.29 216 29 61.611 61.629 81.600 Rubber (S) Rubber (M) 199 213.90 219.29 217 219.29 221.00 181 217.00 217.79 ♦cent* per kilo •perplcul42 words
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Article152 1977-09-12 8 THE Straits tin price In Pen&ng on Saturday was up $25.00 to $1,025 on an official offering down six tonnes to 175 tonnes. In LONDON on Friday, tin on the day gained £95 for Cash and £00 for Three Months while high grade was up £100 and £105152 words
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Article333 1977-09-12 8 BANOKOK, Sun. No new developments were reported in the rice market this week, dealers said. They said the government was adhering strictly to Its recent regulation that applications for rice export would be approved only If the quantity did not exceed 2.500 tonnes, Introduced to slow rice exports after333 words
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Article249 1977-09-12 8 LONDON, Bun. Copper wire bars on the day rose by fully £3 for Cash and £2 for Three Months on Friday. All base metals appeared to be somewhat oversold, dealers said, and values worked higher on end-week bear covering which was aided by the movements In US futures. Sales249 words
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Article43 1977-09-12 8 LONDON, Sun. Lead closed with losses of £0.50 all round on Friday. After a quiet start, general shortcovering pushed Three Months steadily higher and by the end of the kerb, Three Months was trading at £331 per tonne. Sales were 1,000 tonnes.43 words
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Article37 1977-09-12 8 LONDON, Sim. Zinc on the day lost around £2 per tonne on Friday. This metal followed the general movement with earlier losses mostly erased and Three Months finishing the kerb at £305. Sales were 1,700 tonnes.37 words
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Article182 1977-09-12 8 LONDON, Sun. Sliver on the day gamed 0.0 to 0.3 pence per troy ounce on Friday. End-week covering reversed the earlier sagging trend with Three Months working higher and finishing the ring trading at 201.8 pence before final kerb business at 202.2 pence. Sales were 41 lots. spot silver182 words
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Article202 1977-09-12 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY. Coconut Oil: Bulk 87S sellers, old drum 880 sellers, new drum 885 sellers. Copra: Mixed (loose) UK/Cont. 848 buyers. Pepper: Muntok ASTA white f.o.b. 100* NLW 8402vt sellers. Sarawak white f.o.b 9«* NLW 8382W sellers. Barawak special202 words
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Article77 1977-09-12 8 C.I F Rotterdam prices quoted In London on Friday In US dollar* per ton Friday Pre*. Malaysia 5% ffa bulk Nov Sumatra 5% Sept Oct No* Der Jan Nigeria 5% ffa bulk sterling per long ton ROTTERDAM Sumatra Oct Zaire Belg francs per kilo 438 sir unch unch77 words
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Article492 1977-09-12 8 DULL and quiet condltiona prevailed In the Singapore gold market today, but the kllobar opened higher at 911,730 and closed slightly lower at $11,715 in light trading. The local London market opened at U8 $148.20 and eased towards the close at $147.90 148.10. Retail prices per tael Suoted by492 words
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Article422 1977-09-12 8 LONDON, Sun. Terminal cocoa on Friday finished a short opening call mostly £5.50 per tonne down from Thursday (Mch at £2.248) to £7.50 up. But a realignment of nearby differentials left Spot Sep £47 higher. Dealers said much confusion still surrounds Thursday's market talk of shipment problems from the422 words
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Article252 1977-09-12 8 LONDON, Sun. Coffee opened as expected £7 to £30 higher on turnover of 184 lots on Friday. Traders said activity was very subdued and two cross trades of 40 lots each made up nearly half the volume. Modest buying lifted prices initially in line with overnight advances in New252 words
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722 1977-09-12 8 TRADERS in the Singapore produce market remained generally idle last week In the absence of consistent buying support from the Western markets. Turnover was therefore necessarily low and confined mainly to book-squarring and neighbouring countries' consumer accounts. In certain sectors of the market, the722 words
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Article199 1977-09-12 8 LONDON, Bun. Weekend covering held sugar futures steady In late morning and prices closed £1.05 lower (near Dec at £113.70 bid) to £0.60 higher on Friday. But traders said the latest reported raw sugar sale five Argentine cargoes for last quarter 1977 to U8 operators kept near months relatively199 words
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Article156 1977-09-12 8 CHICAGO, Bun. Soybean futures posted losses of 8% to 0* cents a bushel at the close on Friday. The market was weakened by declining cash basis levels In beans and products and the mostly dry midwest weather which may bring full-scale harvesting closer. Locals were the most active sellers156 words
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Article137 1977-09-12 8 CHICAGO, Sun. Wheat futures extended early firmness into good gains and finished the session three to 4ft cents a bushel higher on Friday. The recent activity in the export market provided support and substantial amounts of commercial buying in the pit produced local shortcoverlng and commission house stop-loss buying.137 words
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MONEY AND EXCHANGES
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Article145 1977-09-12 8 THE US dollar was traded thinly In the Singapore forex market from $2.4405 to 52.4480 for the whole week. The market continued to remain thin in virtually featureless trading with the US unit closing steady at 52.4470-75. Uncertainty over developments at the UK Trade Union Congress conference prompted some145 words
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Article47 1977-09-12 8 ACBC Aigemenc Bank Citibank H# n(ko4 Bank 7 HSBC m Bank of Amarfca m Bank of China 7 IS Bank of Tokyo C L i IS Bank Noffara OCBC •>« Indonesia 7 OL'B (>< Chartarad Bank L'CB i Chaae Manhattan IS L'MBC DBS m LOB «H47 words
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Article336 1977-09-12 8 CONDITIONS in the money market ruled steady during the week. Overnight funds were mainly traded around the 4 per cent region. Three Montns deposit rate moved from 4 13/10 4 11/10 per cent to 4 7/8 4* per cent at the close of the week. With the forth336 words
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Article197 1977-09-12 8 Asian rates SHORT dates were traded at the 8 3/18 level and periods up to 3 months improved 1/18 per cent while six months onwards gained per cent upon news of US basic money supply increase of 3 billion Ml and 4 billion M 2. ASIAN currency average deposits rates197 words
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Article494 1977-09-12 8 ZURICH, Bun. Despite the rise of the U8 unemployment rate from 8.9 per cent to 7. l per cent in August, the dollar displayed a somewhat firmer tendency. It benefited from the latest unexpectedly sharp money supply rise which indicates that the FED might tighten Its monetary policies In494 words
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Article128 1977-09-12 8 NEW YORK, Sun. The dollar closed slightly higher against moct major currencies In very quiet trading, dealers said on Friday. They attributed the strength to the S3 million rise In M-l money eupply for the week ended Aug 31 announced late on Thursday by the Federal Reserve and128 words
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Article125 1977-09-12 8 Euro rates LONDON, Bun. Trading Interest in eurodollar deposits was quiet ahead of the weekend, dealers said on Friday. Period rates opened 1/16 to 1/8 harder reflecting the unexpected rise In the U8 money supply data and showed little change In subsequent dealings. Rollover and Far Eastern business was small,125 words
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Article40 1977-09-12 8 FOR the week ended Friday Sept 9 the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND IW* to 5*H GENERAL FUNDS 2)4% to 4*% Movement of funds totalled $707 million.40 words
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Article206 1977-09-12 8 LONDON, Sun. Spot sterling dipped to close at US* 1.7425/67 following the half per cent cut In UK minimum lending rate from mid session levels of 51.7431/33 but forward positions strengthened markedly on the day dealers said on Friday. Reflecting the spot decline. The official effective exchange rate index206 words
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Article32 1977-09-12 8 Frankfurt exchanges closing quotes on SeDt 9. U8 2.3245/55 Can 2.1655/75 UK 4.052/062 Neth 94.40/50 Swlti 97.4£/58 Italy 2.630/640 France 47.18/28 Japan 0.8725/35 Belg com 6.49/50 Belg fin 6.492/502 Norw 42.62/7232 words
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Article97 1977-09-12 8 BASICALLY overnight funds were seen squarish to close at 4 3*. However, at end of the reporting week the overnight market eased to close 2— 1 for that day. Taking interest in the one month was strong with and the rate picked up to close at 4* 9/1697 words
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Page 8 Advertisements
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Advertisement132 1977-09-12 8 Don't let the language barrier stop you from wider contacts -'*-S II I 1 m iJ 4 H <• t I IP xiS =r YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at home, while travel- i ling in fact anywhere and any time that suits you. Possess ing a132 words
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Article, Illustration590 1977-09-12 9 NYT NORTH MUSKHAM, England, Sun. Three thousand people gathered here on the bank of the River Trent last week and stood for hours peering toward the water as it crept through Nottlnghamshlres flat grassland toward the North Sea. When the day was half gone, 37NYT - 590 words
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Article94 1977-09-12 9 WHEN Southern match angler Ray Mum ford was left out of the England team to fish in the world championships in Luxembourg later this year, he was so incensed that he challenged each of the six-man squad to a £500-a-side duel to determine who was the best man.94 words
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Article, Illustration1075 1977-09-12 9 UNDER present plans, the US open tennis championships will be moved from the venerable West Side Tennis Club in Forest Hills to a new facility in Flushing Meadow after this year's tournament. Tennis superstar Billie Jean King reminsces aboutNYT - 1,075 words
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897 1977-09-12 9 Peter Dobereiner - By Peter Dobereiner The Observer THERE Is a form of competition, so I am told. In which the player has to nominate the score for each hole. If he nominates a four and then actually plays the hole In five, or evenThe Observer - 897 words
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576 1977-09-12 9 Ernest Frida - By Ernest Frida ROBERT LYE, handicap 16, of SICC caused a stir yesterday when he beat a star studded field of 300 competitors from nine clubs to win the Jurong Country Oolf Club Open championship with a gross 79. Robert, played superlative eolf576 words
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Article, Illustration1095 1977-09-12 9 Hugh Mcllvanney - By Hugh Mcllvanney The Observer IT WAS fairly easy to tell that the footballers grouped around Mario Zagallo on the sunlit grass were not Pele, Gerson, Carlos Alberto and the rest of his old allies, because it was half-time In a serious match andThe Observer - 1,095 words
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Page 9 Advertisements
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Advertisement101 1977-09-12 9 INTERNATIONAL OILFIELD SUPPLY COMPANY HAS VACANCIES FOR SALESMEN The job involves the marketing of high class oilfield product lines to the national and international oil companies in South East Asia substantial travelling is involved. Applicants should be aged 30 45 and have had a successful career in marketing of engineering101 words
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Advertisement147 1977-09-12 9 INTRODUCING The Champion Speedster. StpPTin n 4 *> 11 u r-. sV w at* M Black-Max Tunnel Groove Slalom SOLE AGf NTS: \|f KING COMFAMY ALL LINES CP SPORTS 8 ri LtfeURE TIME FTODLOS I fl 73 1 HAF*LfSPLACE ULJ SiNGAWWE I TEL. 9304 C <i* Black-Max TG. 2 'wet147 words
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182 1977-09-12 10 HEW DELHI, Sun. India's new government will ask International Business Machines (IBM) to dilute Its Indian equity to 40 per cent, the Economic Times reported over the weekend. The English-language financial daily said the government reached Its decision on Friday following a182 words
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Article186 1977-09-12 10 AP BINOAPORE Is hoping to emulate the example of the Australian state of Victoria, where In the first nine months after the introduction of compulsory seat belt laws, the number of road fatalities fell by 17.1 per cent and Injured vehicle occupants by 13.8AP - 186 words
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Article78 1977-09-12 10 THE National Productivity Board Is conducting an Advanced Industrial Pneumatics (LCA Module III) course from Sept 19 to 30 at the NPB headquarters In Jurong. Fee is >80 for members and $100 for others. Another course on Cost Accounting and Control, which is part of the Module V of78 words
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1224 1977-09-12 10 MANILA, Sun. The United States Is to maintain a strong presence In South-east Asia but the new thrust will be economic rather than military or overtly political. It also wants to spread the load of responsibility by stressing the Interdependence1,224 words
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Article143 1977-09-12 10 Reuter MANILA, Sun. Trac Secretary Troadio Qulazon today urged shippers to use four shipping lines now offering freight rates 10 to 15 per cent lower than conference rates on Philippine export cargoes to Australia, New Zealand and Papua New Guinea. Mr. Qulazon, chairman of theReuter - 143 words
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581 1977-09-12 10 UPI WASHINGTON, Sun. Mr. Bert Lance attempted to cover up details of his personal financial troubles that may have Jeopardised Senate confirmation of his appointment as Budget Director, federal Investigators have told Congress. A top federal banking official assisted In the coverup by hidingUPI - 581 words
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Article556 1977-09-12 10 v ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKG SA8 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 MES PAL PR501 1115556 words
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Article388 1977-09-12 10 AP NEW DELHI, Sun. Mr. Rajiv Gandhi, former Prime Minister Indira Gandhi's eldest son, allegedly received U*****,000 (552.4 million) in questionable commissions from the Boeing company, the Indian Express reported over the weekend. Rajiv, a pilot for Indian Airlines, allegedly received the payment In aAP - 388 words
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Article186 1977-09-12 10 ABOUT a score of New Zealand manufacturers are interested in setting up joint ventures in Singapore. The New Zealand embassy has just received a report from the Wellington Trade and Industry Department on this, said Mr. Ray Coates, the Trade Commissioner here. These companies186 words
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Article79 1977-09-12 10 A GERMAN manufacturer, Europe Asia Security Manufacturing, is investing $1.6 million in plant and machinery in Singapore to oroduce bicycle locks. The company's representatives are believed to have had discussions with the Economic Development Board earlier this year, and the company is now setting up the79 words
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Article54 1977-09-12 10 Reuter HONGKONG, Sun. Taiwan's 1977 economic growth will rise 10 per cent above the 7.5 per cent annual average set in the slxyear development plan which started in 1076. according to the Central News Agency quoting a senior economic official. The official said foreign trade will reach US$lB.5Reuter - 54 words
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449 1977-09-12 10 JAPANESE direct overseas Investments authorised In fiscal 1976 was only 5.5 per cent higher than the previous year and the slow growth rate was attributed to the continued recession at home. The Finance Ministry, according to the Japan Trade Centre In Singapore's Jetrc Bulletin, authorised449 words
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301 1977-09-12 10 RECENT foreign Investments In Singapore's electronic Industry may appear substantial by the country's standards, but compared to what some other Asian countries have managed to attract, they are fairly small. According to th« Asia Research Bulletin, Taiwan has Just received a US$l5O million (*****301 words
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Article105 1977-09-12 10 Reuter ADELAIDE, Sun. Trade unions are using guerilla warfare tactics to halt or disrupt £297 million (551.26 billion) worth of construction projects throughout Australia, Construction Minister John McLeay Charged today. The building industry was constantly being Impeded by hit-run and stopgo industrial aetion, he told a press conference.Reuter - 105 words
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Advertisement202 1977-09-12 10 {~>{_@%;?&^.)-~\&^).*=~%?]]-^!~ BANKING AND FINANCE CALCULATORS AND SHARP They're synonymous With SHARP, calculations are simply matters of putting figures right, quickly which they're pretty good at because SHARP CALCULATORS are specialists in figures be it simplified, complicated or scientific. Q E D (Quite Easily Done) with SHARP CS-2109D PI i u202 words
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