The Business Times, 29 November 1977
1977-11-29
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The Business Times
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Title Section10 1977-11-29 1 BUSINESS TIMES M.C.(P) 300/1/77 TUESDAY, NOVEMBER 29, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article86 1977-11-29 1 Reuter BRUSSELS, Mon. The European Common Market and its main textile suppliers today entered the final phase of their negotiations to limit EEC textile imports from next year with little evidence that agreements are in sight. Community officials said the talks will end at midnight onReuter - 86 words
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Article56 1977-11-29 1 AFP BEIRUT, Mon. The head of the ArabianAmerican Oil Company (Aramco), Frank Jungers, will leave his job on Jan. 1. No reason was given for the unexpected departure, but the Lebanese publication Middle East Reporter said it was linked to an impending change in the control of theAFP - 56 words
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Article71 1977-11-29 1 Reuter HONGKONG, Mon. 8.8. Fischer and Co. Inc, °X t ie Philippines and Avery-Laurence (Singapore) Pte Ltd will form a Philippine firm to supply products and technology to the petroleum and geothermal industry in the Philippines, Fischer said. Fischer, a Hutchison International Ltd associate, will hold 70 perReuter - 71 words
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Article78 1977-11-29 1 UPI TOKYO. Mon. The US Congress is very likely to pass an import restriction bill probably in the steel industry if the US and Japan fail to resolve their trade imbalance problem within the next 30 to 60 days. Senator Jacob Javitts said an "irresistable pressure"UPI - 78 words
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Article67 1977-11-29 1 Reuter GENEVA. Mon. A trend towards protectionism. which has raised fears of a global trade war, will be a main topic at a 83-nation meet here tomorrow. The negotiators will be holding the two-day annual meeting of member states of the General Agreement on Tariffs and Trade (Gatt),Reuter - 67 words
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Article44 1977-11-29 1 Lower and lower. Reuter FRANKFURT, Mon. The US dollar fell to a new low of 2.2137 marks on West German currency markets today following the announcement of a record US trade deficit in October. It was set at 2.2203 marks in earlier fixing. ReuterReuter - 44 words
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Article84 1977-11-29 1 UPI NEW YORK. Mon. Stocks turned mixed early today in reaction to the government's report that the United States had a record US$3.l billion (557.3 billion) trade deficit in October. Trading was active. The Commerce Department said the trade figures were distorted somewhat by a two-month-old American dockworkers'UPI - 84 words
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Chief Price Changes
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Article, Illustration181 1977-11-29 1 SHARE prices ruled barely steady in quiet trading on the Stock Exchange of Singapore yesterday. Apart from a handful of favourites, the market generally tended lower on lack of trading interest. Buoyed by selected gains, the Business Times Index closed 0.60 points higher at 469.35 and the181 words
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Article107 1977-11-29 1 Rise* Most active Petallng 8.45 .25 Federal Cables 105,000 O Lumber 105,000 Wearnes 104,000 G. Ceramics 80,000 Total Turnover: l 39 m Total Value: MS2.73 M M. Box(S) 2.00 +.10 Negri Semb 2.70 +.10 CC Bin tang 2.03 .05 Berjuntal Oriental SgBesi 7.55 3.12 4.92 .05 .04107 words
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Article, Illustration1443 1977-11-29 1 REVENUE EXPECTED TO DOUBLE THE NEXT five years will see Singapore Airlines forging ahead at annual growth rates of around 20 per cent and revenue is expected to more than double by 1982 to $2.6 billion. This bright projection of the airline's future was1,443 words
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Article309 1977-11-29 1 THE long-suffering minority shareholders of Far Eastern Hotels Development (FEH), owner of the Hilton, were yesterday given something new to chew in relation to the takeover offer for their shares. Instead of FEP International. its parent International Holdings Pte Ltd (IHP) will now make309 words
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557 1977-11-29 1 SOH TIANG KENG - ■y SOH TIANG KENG ACCOUNTANTS will take a deep, candid look at their profession and its current problems in Singapore and Asean at two conferences to be held here next month. The first is the third council meeting of the Asean Federation557 words
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336 1977-11-29 1 REFLECTING a probable fall-off in Investment in Singapore, the import of machinery through the h?? °f. Slnga P° re Authors* wharves and Jurong Port fell quite heavily in September. 18 7 per cent fall to 49.100 tonnes, the first monthly drop this year, pushed336 words
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Article127 1977-11-29 1 Reuter CARACAB, Mon. The majority of Opec members have reached agreement to implement a moderate Increase in oil prices next year. The newspaper El National, quoting Informed government sources, said Opec members which agreed to the price Increase were Saudi Arabia, Iran, United Arab Emirates. Qatar. Kuwait. Iraq.Reuter - 127 words
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269 1977-11-29 1 STAGS can expect a minimum of 100 per cent profit when the Sin Chew Jit Poh (Singapore) shares make their debut at the Stock Exchange of Singapore this morning. The shares would open at $2.10 at the lowest, said dealers who269 words
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Article, Illustration580 1977-11-29 1 JOHN TAN - From JOHN TAN WHILE Singapore's Asean diesel engine project is still under review, the Philippines Is pushing ahead with its own national diesel engine project which is expected to become operational by early 1981. Secretary of Industry, Vlncente Paterno said that tenders580 words
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Page 1 Advertisements
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Advertisement61 1977-11-29 1 ©Wiyfbong Amending hand when Wayfoong Mortgage you need and Finance (Singapore) Limited it ITIOSt Shaw House. Ground Floor. 354 Orchard Road. Singapore 9. Tel *****7. INSIDE Ovwwm New*/ TV Overseas Stocks A Radio p 2 Commodities Overseas News/ Transport Co Crocs word* p 3 munications Local Co. News P4 Features61 words
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Advertisement44 1977-11-29 1 CITROEN CX 2400 PALLAS has proved to be such a cartough efficient elegant im j*m HtnRV nnc rcehcies pie ltd -■J \> 1 f -iC ■i 'A. 1 V;APOH BRUNEI AGENT Rfi lANCE DISTRIBUTORS 44 B JALAN CHtVALU R. BANDAR Stfli BtGAv\A\ BRUNEI TEL *****44 words
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Advertisement188 1977-11-29 1 U-BIX COMPLETE COPYMG SYSTEM ®APS ELECTRONICS (PRIVATE) LTD SINGAPORE Te* *****4 (5 Lines) APS ELECTRONICS (M) SON BHD KUALA LUMPUR Tel *****/*****/***** Singapore to Hong Kong 18 flights a week. Flight Hostess Patricia Ramos. Our morning non-stop flight to Hong Kong leaves at 11.20 am every day of the week.188 words
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OVERSEAS
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1042 1977-11-29 2 NYT AFP WASHINGTON, Mon. The Federal Mediation and Conciliation Service Intervened yesterday In the stalled negotiations to prevent a coal miners strike on Dec. 6. The mediators obtained the agreement of both sides to meet again tomorrow. The move by the government's chief labourNYT; AFP - 1,042 words
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Article250 1977-11-29 2 Reuter MUNICH. Mod. Production of West German manufacturing industry is likely to grow by about 2.5 per cent next year, no faster than in 1977. The IFO Economic Research Institute said this compares with the rapid post-recession rate of 7.5 per cent achieved in 1976. IFOReuter - 250 words
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Article340 1977-11-29 2 Reuter AFP LONDON. Mon. Britain's 36,000 firemen today entered the third week of a strike with no immediate prospect of their demand for a big pay rise being met. Troops are becoming increasingly efficient In their replacement role, enabling the Labour government to stickReuter; AFP - 340 words
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312 1977-11-29 2 You can bank on it for everything AP PALM BEACH. Mon. In the lale *****, when most poeple in the Unlt«d States worried about the Depression. First National Bank In Paint Beach was Installing electric doors. The pampered few in one of America's richest towns. It telt, should not haveAP - 312 words
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222 1977-11-29 2 AP WASHINGTON, Mon. Economists are waiting for firm figures to see what effect the dock strike that hit the US East Coast and Gulf of Mexico Is having on trade with other countries. The first Indication was expected today with release of the US CommerceAP - 222 words
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779 1977-11-29 2 NYT STOCKHOLM. Mon. Three of Sweden's largest plants will be merged into a single company to be known as Swedish Steel Ltd. if approval Is given as expected when Parliament reconvenes In January. A govenment proposal calling for such a merger willNYT - 779 words
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151 1977-11-29 2 Reuter SYDNEY. Mon. A massive Increase of more than 600 per cent In the annual kill quota of the North Pacific sperm whale Is to be recommended by scientists of the International Whaling Commission (IWC). an Australian anti-whailng group claimed today. Mr.Reuter - 151 words
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Article719 1977-11-29 3 Reuter NEW YORK, Mon. US real gross national product growth will slow to 4.2 per cent next year from an estimated .4.8 per cent growth this year. The Conference Board Economic Forum, comprising 11 leading economists, forecast industrial production will rise 5.5 per centReuter - 719 words
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1075 1977-11-29 3 NYT WASHINGTON. Mon. The Federal Reserve may soon give up some of its secrets, but monetary policy still will be wrapped in mystery. Even if the Fed yields, its disclosures will require translation and interpretation by the experts. Nevertheless. FedNYT - 1,075 words
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Article133 1977-11-29 3 NYT BONN, Mon. West Germans who want to collect or deposit major amounts of cash at their bank are now able to do so only by special appointment possibly outside regular business hours in many branches. The new practice is part of a drive in the bankingNYT - 133 words
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603 1977-11-29 3 Reuter PARIS. Mon French business economises expect the franc to lose over 6 per cent against the US dollar and nearly 10 per cent against the mark if a leftwing government gains power in the March 1978 elections. They expect to see theReuter - 603 words
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258 1977-11-29 3 WASHINGTON. Mon. The Justice Department asked the Securities and Exchange Commission to extend a Dec 22 deadline by which a new method of financial accounting for oil «nd gas producers is to be implemented. The proposed rules would institute the successful efforts258 words
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587 1977-11-29 3 Reuter LONDON, Mon. Differing rates of inflation and discrepancies in the economic and trade performances of joint European float members are prompting many European foreign exchange dealers to anticipate a joint float realignment within three months. Several dealers contacted here, and in Oslo,Reuter - 587 words
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Article50 1977-11-29 3 AP LONDON, Mon. Tower Bridge, one of London's best known landmarks, is being slowly shaken to pieces by heavy traffic. The City of London Corporation said it is applying to the Greater London Council to have all trucks over five ton banned from using the 83-year-old structure. AP.AP - 50 words
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Page 2 Advertisements
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Advertisement233 1977-11-29 2 "We're here to stay... We are serious about the heavy equipment business in the Far East. We know how important it is for the decision makers to deal with a stable organisation that offers sales and back up service when it is needed. We are serious enough to invest in233 words
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Page 2 Miscellaneous
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Miscellaneous276 1977-11-29 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 pm on Nov 28 at Singapore airport. Maximum Temperature 29.6° C Associated Humidity 75 Minimum Temperature 22 7°C Associated Humidity 100 Hours of Sunshine 2.85 Rainfall in Millimetres 10.6 Total Rainfall for the Month 359.6 Total Rainy Days for the276 words
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Page 3 Advertisements
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Advertisement172 1977-11-29 3 Close a deal ■Ssr •> A "*V* /v MS "V J «•>£**£ -5? *s*Vtw, y-mL, JT*6y >»\ '..Si v A** *r Sr r -Cjit' l :?!Wj3 r^#v>?*P5 r .VV- ,v V L J ,r mrwmk M Wr *mhM* V > jf 'fStf 11. with IDD If you deal each day172 words
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Page 3 Miscellaneous
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Miscellaneous658 1977-11-29 3 THE TWO-IN-ONE CROSSWORD 15 I 116 I W 27 128 CRYPTIC PUZ ZLE ACROSS 3 A striking redhead 7 (5) Be a go-ahead type (3. 2) Is allowed little land (5) 11 A counter to prohibition? (3) IS Female humorist at church (5) 13 Meat vehicle and scrap iron (7)658 words
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COMPANY NEWS
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190 1977-11-29 4 THE pre-tax profits of Wearne Brothers, good as they are, would have been $171,000 better last year but for a change in group accounting practice. As from 1976-77 the company has decided to bring interest on hirepurchase transactions into the profit and loss account190 words
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Article40 1977-11-29 4 SEA View Hotel Audited group net loss $1.56 million (loss $1.36 million) for the year ended June 30, 1977. Sales $2.68 million ($2.56 million). Parent company net loss $1.58 million (loss $1.35 million). Sales $2.47 million ($2.36 million).40 words
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Article319 1977-11-29 4 Current Ex Date Total for Total for payment Date payable the year previouayear Oriental 0*1 Nov 6 Nov 30 6% 15% Rothmsns 20% Oct 14 Nov 30 20% 20% Mentikib Rubber n%i Nov 11 Nov 30 11% 25% Sime Darby 24% Oct 26 Dec 1 35% 26% Sime319 words
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405 1977-11-29 4 POOR trading conditions have once again retarded earnings growth at Cold Storage Holdings for the current year ending Jan 31, 1978. "There has been no Improvement In the trading environment of the group, and, despite an Increase In turnover, we have been405 words
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622 1977-11-29 4 HOT on the heels of Wearne Brothers' sparkling results, Cycle and Carriage Blntang (CCB) has further underlined the strong recovery of the Malaysian car market with the announcement of a 48.5 per cent Jump In pretax profit for the year ended Sept622 words
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COMPANY MEETINGS
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Article21 1977-11-29 4 THE following company meetings are due: Nov 30 at 11 a.m. at Sungel Way Brewery, Petallng Jaya, Selangor.21 words
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Article16 1977-11-29 4 Dec 1 at noon at its registered office, 73 Beach Street. Penang, Malaysia.16 words
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Article14 1977-11-29 4 pang, Kuala Lumpur. Dec 5 at sb, Jalan Am-14 words
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Article20 1977-11-29 4 Dec 5 at its registered office. 50 Jalan Atnpang, Kuala Lutnpur. Malaysia at 12 noon.20 words
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903 1977-11-29 4 NYT NEW YORK: Stock repurchases by companies that regard their shares as cheap In this market have become common events. And with shares selling at four and five times earnings. This Is understandable. Yet there is some mystery about exact motivation, which usuallyNYT - 903 words
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667 1977-11-29 4 GENTING Highlands Hotel, the resort and casino complex, has applied to the Malaysian Foreign Investment Committee for approval to acquire all the 1.47 million MSI shares owned by Nlssel Trading Company of Japan In Genting Nlssel Malaysia, the subsidiary which has been developing667 words
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Article427 1977-11-29 4 THE Impressive recovery staged by International Wood Products In the last financial year has fizzled out during the current year as conditions In the plywood markets took a downturn. For the first six months ended Aug 31, 1977, the company reported a 6.4 per cent decline In427 words
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902 1977-11-29 4 NYT NEW YORK: When the underwriting firm of Moseley, Hallgarten and Estabrook Inc. brought a US$7.5 million municipal bond unit trust to market last Wednesday, It was one more sign that Wall Street Is trying to wring maximum advantage out of Investors' enthusiasm for tax-exempt securities.NYT - 902 words
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Article478 1977-11-29 4 LONDON: Since giving up trading stamps at the beginning of June, Tesco"s sales have leaped by over 40 per cent. This Is far more than the 30 per cent Increase the management was forecasting, but about what other supermarket competitors were expecting. The Increase, shown478 words
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Page 4 Advertisements
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Advertisement336 1977-11-29 4 The HP-01 doesn't just tell time. It thinks time. The new HP-01 is vastly more powerful than any digital watch or watchcalculator ever made for personal use. It's a sophisticated time-keeper, a versatile timer and stopwatch, an alarm, an electronic aGf! 200-year calendar and a calculator with _J memory with336 words
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282 1977-11-29 5 EUROPEAN COMPANIES FT PERSTORP, the Swedish chemicals and plastics concern, is planning an Investment programme of up to £15 million in the UK in the next five years. The expenditure will form an Important part of the company's total spending up to 1982 ofFT - 282 words
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439 1977-11-29 5 FT DESPITE an increase in turnover from £292 million to £405 million, pre-tax profits of international meat processers and traders Thomas Borthwick and Sons fell from £8.08 million to £6.4 million for the year to Sept 30, 1977 after £5.1 million compared with £4.03 millionFT - 439 words
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Article250 1977-11-29 5 FT THE Spanish Ministry of industry In a tough new policy towards "lame ducks" has turned down the possibility of the state holding company, INI, buying Into the troubled In- dustrial concern Babcock < and Wilcox Espanola, In 1 which British Babcock has 1FT - 250 words
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Article866 1977-11-29 5 FT IN MANY ways Madame Tussaud's has not changed much In the 200 years since Madame Marie arrived In England with her wax models of French aristocrats who had met their end under the guillotine of the French Revolution. After 33 years of peripatetic wanderings throughout theFT - 866 words
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Article851 1977-11-29 5 NORTH AMERICAN COMPANIES NYT THIS has been a rocky year for old king coal, the US' ace-in-the-hole hydrocarbon that Is expected to bear an Increasing share of the energy burden. First, there was the frigid winter, which froze coal like so many ice cubes In hopperNYT - 851 words
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267 1977-11-29 5 FT FURTHER progress was reported by House of Fraser, the department stores group, In the 13 weeks ended Oct 29, 1977, with taxable profits showing an advance from £4.89 million to £6.74 million. This takes the total for the first 39 weeks of theFT - 267 words
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Article409 1977-11-29 5 FT THE Fruehauf Corporation of America, which has been trying for 13 months to take over Crane Fruehauf, the Norfolk trai-ler-manufacturer .is showing signs of Impatience. It has raised Its offer for Crane for the fifth time. Its iOOp cash offer is a comfortable 7p above theFT - 409 words
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Article90 1977-11-29 5 Reuter UNION refusal to allow six sessions of Saturday overtime to boost production of Its 127 model cost Flat SPA 15 billion lire in lost production. Last Saturday, unions prevented a management request for overtime for the sixth week running. Flat said the overtime plans wouldReuter - 90 words
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Article259 1977-11-29 5 FT ALTHOUGH share of associate profits Improved from £730,000 to £1.12 million, the pre-tax balance of Rediffusion slipped £150,000 to £7.28 million for the six months to Sept 30, 1977 on higher turnover of £67.75 million against £64.66 million. The directors point out that the half-year tax chargeFT - 259 words
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Article111 1977-11-29 5 Reuter TOYOTA Motor Is negotiating with three companies In France and Britain to Import car parts to help promote Japanese imports from the European Economic Community. A Toyota spokesman said It Is too soon Ho give details on dates, quantities and car models. ButReuter - 111 words
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153 1977-11-29 5 Reuter THE AS3OO million 12-year Euro-credit to be raised by International Combustion of Australia will carry a spilt spread over London Eurodollar rates ranging between 3/4 and 1 per cent Euromarket bankers said. The credit, being managed by Westdeutsche Landesbank Glrozentrale, will take some time to reachReuter - 153 words
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Page 5 Advertisements
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Advertisement165 1977-11-29 5 Buy in time v y -tPfIK tvr'-l > Sj*. vT V V-^v W N. >\ v -,yv \W -iv. TnX \sVv VV -3»%v Nnv '~?v>v X \A N V. \V.\ s a v\\ ysm^ m r x, S v m v\ \v\ X\s VV\v •oVX A \Vv IDD Time on165 words
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Article2413 1977-11-29 6 1577 High Low Company Last Sale +orGr's div Div C'VT Gr'a y'W Net P/E Vol ('000) Day High Low SECTION ONE INDUSTRIALS 154 204 no 244 88* 205 109 247 418 146 134 165 58 212 57* 155 152 182 350 91 Acma Alcorn Allied Choc Bala2,413 words
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Article1398 1977-11-29 6 BID aad offer prion listed mod business la ud wpwtri to the Slock Eickuw ot Singapore yesterday with the number of •hare* traded shows ia brackets to lota of 1,000 units unless otherwise specified. All Time SetUaaMt Contracts are quoted after the Bi t U (to lots1,398 words
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Article1449 1977-11-29 6 BID and offer price* officials listed and business in and reported U> the Kuala l.umpur Stock Exchange vesterdav with the number of share* traded shown in bracket* in lots of 1.000 unit* unlen otherwise speiified INDUSTRIALS Aimomot# (2 128 2 198) Al«am (1.658). A. Chac (1 o3b1,449 words
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Article68 1977-11-29 6 STRIKING prices of the stock options officially listed on the Stock Ex-i-haitKe of Singapore, the period*, bid and offer prices and business done yesterday, with the number of options traded shown in bracket*. C and C (Dec $190) (0.558 0.605). ©JisT 92 30> (0 t7B (March »2.30) (0.18B).68 words
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Article160 1977-11-29 6 SINliAHOKfc UNIT TKI HT incomf: bond unit iMiuim' price for Nov 29) (t'urreat p ricoa) Tlie Commerce 1.77 1 88 INCXJMt BOND 108 1.14 Tlie Saving F und s pore Prog Fund S [lore Security Fund S pore Invest F und 106 0.83 1.12 1.01 1.12 0 88160 words
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Article101 1977-11-29 6 4 3/4* 1/5/79 (250,000) (100 488 100.528) 5 1/4* IS/10/79 (250.000) (100.958 101.15S) 5 J/4* 1/6/78-80 (250.000) (100 958 101 255) 4 3/4* 15/9/80 (250.000) (99.208 99 65i>) 5* T F 15/10/81 (250.000) (101 50B) 5* T F 1/5/83 250.000) (90.958 100.10S) 7 1/4* 15/4/N6 (250.000) (100 I55B)101 words
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Page 6 Advertisements
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Advertisement176 1977-11-29 6 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who176 words
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Article, Illustration480 1977-11-29 7 SHARE prices were barely •teady in quiet trading on the Stock Exchange of Singapore yesterday. Apart from the usual handful of popular stocks, the market generally moved sideways for the better part of the day. Speculators, dabblers and other operators appeared to be reserving their480 words
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Article471 1977-11-29 7 THE Kuala Lumpur stock market yesterday closed generally on a weak note as share prices eased marginally on all fronts in reduced trading. Business was dull and featureless throughout the whole day as traders appeared reluctant to deal. The market opened a shade lower in471 words
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1595 1977-11-29 7 NYT WASHINGTON: Roberta Karmel, the newest and first woman member of the Securities and Exchange Commission, weighs her words carefully. Judicious, somewhat circumspect by nature, she Is particularly hesitant to express a personal opinion that might divulge the secret deliberations of the commission. ButNYT - 1,595 words
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INTERNATIONAL STOCK MARKETS
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Article469 1977-11-29 7 TOKYO: Share prices rose sharply In moderate trading with Investors welcoming the cabinet reshuffle, dealers said. The market average rose 52.34 to close at 4.822.50 with volume of 180 million shares. The Tokyo Stock Exchange index closed at 361.65. up 2.76 Buying Interest was also triggered by Prime Minister469 words
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Article402 1977-11-29 7 SYDNEY: Share prices recovered moderately from last week's weakness, but with concern over the government's election prospects still a restraining factor, dealers said. The Sydney All-Ordinaries Index rose 3.57 points to 430.09 Among industrials BHP rose six to 5 22 CSR four to 2.84 and retailers Myer, Woolwortha and402 words
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Article378 1977-11-29 7 HONGKONG: The market was slightly easier In dull trading. with limited selling centring on blue chips and little buying Interest. dealers said. The Hang Seng Index fell 2.41 points to 418.13. HK Bank and Jardine* lost 20 cents each to 18 00 and 13.00 respectively. while Swire Pacific lost378 words
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Article130 1977-11-29 7 NOV 25 Bahts Asia Fibre 283 -5 Bangkok Bank 393 -8 Bangkok Invest 372 unch Bangkok Metropolitan Bank Bata Shoe 785 -20 Berll Jucker 582 -10 Charoong Thai Wire 342 -9 Dumex Duslt Thanl 333 -4 Faber Merlin First Trust 359 -4 General Finance 340 -I Indo-Thal Industrial Finance130 words
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Article134 1977-11-29 7 MANILA. The market closed lower with all sectors continuing their downtrend, dealers said. •> er dr °PP ed further to z 98 million pesos from last Friday's 4 03 million. NOV Pesos Aroje Mining outa unch Alias Con A 12 60 -0.2 Atlas Con. B 1270 -0 2 Baguio134 words
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180 1977-11-29 7 Reuter WEST German manufacturing firms remained unsatisfied with the state of their business last month. The IFO Economic Research Institute said. The slight improvement noted in ther view of the outlook for the next six months during September has not continued. It said in itsReuter - 180 words
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Article49 1977-11-29 7 Reuter CSR has again extended its offer for AAR to 5 pm local time on Dec 23 and currently is entitled to 81 per cent of AAR's 25.85 million $1 par share issued capital. The cash/ share offer was originally due to close on Nov 30. Reuter.Reuter - 49 words
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959 1977-11-29 7 NEW YORK: In this year's closing weeks, investors face an unusual array of time-tested theories for calling the turn in the stock market. Among the best known are the General Motors' bell-wether, the year-end rally, the January barometer, and the venerable Dow theory.959 words
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Article47 1977-11-29 7 Reuter NEW capital expenditure by Australian companies rose .to A 51.63 billion, seasonally adjusted, in the third quarter of this year from an upward revised 1.53 billion In the second quarter and 1.36 billion in the third 1976 quarter, preliminary Statistics Bureau figures show. Reuter.Reuter - 47 words
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Page 7 Advertisements
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Advertisement520 1977-11-29 7 BUSINESS TIMES Airline Directory Aeroflot Soviet Airline* 110-112 Show Centre, Orchard Rood, Singapore 9 (Tel: 377.111) Air Ceylon 302-B, 3rd Floor, Marina Houm S hen ton Way, Singapore (1) (Tel: *****88) Ground. Floor, ICS Building, Shenton Way Singapore 1 (Tel: *****11) louroq Indonesia Airline* 16th Floor, UIC Building, Shenton Way,520 words
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COMMODITY REPORTS AND PRICES
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Article274 1977-11-29 8 SHE SINGAPORE rubber larked yesterday opened 1.25 cents higher following steadier London advices but later fell back on lack of follow-through buying, dealers said. Towards the morning close, however, values recovered fractionally on some short-covering Interest. The morning session closed quiet with December One RSS274 words
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Article26 1977-11-29 8 Rubber: Nov 28 Singapore: December 204.50 (down 0.50 cent) Malaysia: December 204.50 (unchanged) Tin: $1,796 (down $4) Official offering: 230 tonnes (up 15 tonnes)26 words
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Article392 1977-11-29 8 PRICES In cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int 1 R.S.S. prompt f.o.b. 204 00 205 00N 204.00 205 OON Int 1 R.S.S December 204 50 205 00 204 50 205 00 Int 1 R.S.S. January 206 00 206 50392 words
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Article120 1977-11-29 8 NOON SSR and SMR prices yesterday: December January HAS (Current Mth) (Forward Mth) m. Buyers Seller* Buyer* Seller* (cent* per kg) (cent* »erk«) SSR 20 (1-ton pullet) 198 00 199.00S 199 00 200 OON SSR 50 (1-ton pallet) 196 00 197 OON 197 00 198 OON MRELB120 words
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Article398 1977-11-29 8 HONGKONG, Mon. Trading In cotton futures was quiet but prices rose sharply near the close on stop-loss buying from local and Japanese commission houses, dealers said. March and July were the only months traded, rising 1.63 and 1.87 US cents respectively. Lack of sellers and the possibility of398 words
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Article204 1977-11-29 8 BANGKOK. Mon. Indicative prices for rice quoted here were: (In US dollars per tonne fob basis. Bangkok) White Rice: 100 pet Ist class 319. 100 pet 2nd 305 100 pet 3rd 299 5 pet 289 10 pet 270. 15 pet 267. 20 pet 264. 25 pet 257. 35 pet204 words
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Article392 1977-11-29 8 TRADING was quiet on the Singapore produce market yesterday with prices of most commodities holding barely steady. All grades of pepper were marked down $2.50 per Jilcul, according to the oflclal price list issued by the Singapore Chinese Produce Exchange. Copra firmed Si Kr Dlcul above the official392 words
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Article147 1977-11-29 8 LONDON. Mon. Coffee futures opened L' 4 higher to 117 lower compared with Friday's close. 56 lots were traded and the official tone was quiet. Local dealer buying made for early gains of around i'ls but there was no follow through and prices drifted lower. Dealers said there was147 words
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Article142 1977-11-29 8 LONDON. Mon. Terminal sugar opened with small mixed gains and losses in restricted turnover. The London dally raws price was unchanged at 1105 per tonne. But the whites price dropped t'2 to L'lo9, possibly reflecting the weekend's Egyptian white sugar selling tender for 6,000 tonnes, which dealers said was142 words
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Article156 1977-11-29 8 LONDON. Mon. Cocoa opened t!25 higher to CM down on turnover of 328 lots which included 121 self trades. Initially speculative buying boosted prices in sympathy with late advances in New York on Friday. Trade houses also made purchases in the early part of the call, but sold out156 words
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Article119 1977-11-29 8 LONDON. Mon. Lead ended the morning ring 12.75 up for cash and 14 higher for Three Months. Prices displayed a very steady trend with fresh buying prompted in the premarket by trade reports of Soviet lead purchases of up to 2.000 tonnes. This is in addition to the 4.500119 words
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Article94 1977-11-29 8 LONDON, Mon. Zinc was 1'1.75 up for cash and 12.25 higher for Three Months at the end of the morning ring. Dealers said some fresh buying and shortcovering was encouraged by the steadier copper and lead markets and Three Months traded up to t'297 per tonne. However, the advance94 words
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1320 1977-11-29 8 LONDON: Commodity prices presented a ragged picture last week, with trading somewhat curtailed by holidays in Japan and the United States. The historic Sadat/Begin meeting in Jerusalem created wide interest, keeping Middle East peace hopes high and speculation in check. Sterling's uncertainty on the foreign1,320 words
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Article170 1977-11-29 8 THE KILOBAR In Singapore opened at 5512.220. Due to selling pressure in Hongkong, the market drifted to a low of 5512.165. However, the market rebounced sharply to close at 5512,187. In London, the metal opened at U*****.70/ $160.00 and closed at U*****.30/ 60. The London morning fix was U*****.50.170 words
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Article155 1977-11-29 8 THE STRAITS tin price in Penang yesterday was down Ms 4 to $1,796 perplcul on an official offering up 15 tonnes to 230 tonnes. The market was marked lower after Saturday's rise following a slightly larger volume of tin concentrates, with some Japanese buying and light local dealer155 words
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Article85 1977-11-29 8 LONDON, Mon. Copper wlrebars finished the morning with gains of £2 per tonne for cash and £2.50 for Three Months. The market was relatively quiet throughout the session although values were steady on light covering prompted by higher gold and a smaller than expected rise in warehouse stocks. Nevertheless,85 words
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Article53 1977-11-29 8 LONDON, Mon. Sliver finished the ring with all round gains of 3.2 pence per troy ounce. The pickup In gold this morning and the bullion dealers' fix encouraged small-scale covering on an otherwise quiet market. Three-Month traded up to 267.6 pence per troy ounce before proflttaklng pared gains. Sales53 words
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Article126 1977-11-29 8 BELGRADE, Mon. Yugoslavia will this year produce a record 10.5 to 11 million tonnes of maize which will allow exports of one million tonnes, Agriculture Minister Ivo Kustrak said. The previous record maize production in 1975 was 9.39 million tonnes. Mr. Kustrak told foreign journalists that this year's126 words
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MONEY AND EXCHANGES
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Article585 1977-11-29 8 THE FOREX market yesterday remained stable in the absence of major developments in the international financial centres but the US dollar continued last week's closing trend by staging further gains against other major currencies. The yen backed off from the opening level of 240.00 yen against the US dollar585 words
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Article43 1977-11-29 8 ACBG 7 First Chicara 1 7 Citibank 7 HSBC 7 Bank of China Bank of Tokyo 7 7 Malayan Banking 7 Mitsui Bank 7 Bank Ncgara OCBC OUB •s 7 UCB 7 Chase Manhattan DBS 7 L'MBC UOB 7 743 words
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Article158 1977-11-29 8 Asian rates ASIAN currency deposit interbank rates as at close on Nov 28 US Dollars (HmiI Offer Bid 7 days .65/8 61/2 1 mth .75/16 7 3/16 2 mths .7 67 3 mths .71/16 615/16 fl mths 7 3/8 71/4 B mths .77/16 7 5/16 12 mths .71/2 73/8 Hw.158 words
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Article44 1977-11-29 8 RANOE of prices offered by discount houses on Nov 28 Ovemlfht 3MH Call deposit 3 to 3*« Ooaia« Buyin« 3-Month 8* Iliac Treasury bills 3k 3fc 3-month Bank bills 41k 4«< 3-Month CD SH 6-Month CD 5% IS Source: National Discount Co Ltd.44 words
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Article50 1977-11-29 8 FRANKFURT exchanges opening quotes on Nov 28: U8 2 2150 AO Can 2 0035/55 Btf 4 03/04 t>H 02 51/61 Sfr 102 *1/103 01 Ut 2 526 536 Ffr 45 75'85 Nkr 40 05/41 05 Bfr (con) 6 34'35 Bfr < fin 1 6 33 34 Yen n W4450 words
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Article228 1977-11-29 8 LONDON, Mon. The dollar firmed in fairly quiet opening trading, Strengthening against the mark and the French franc, following remarks by German Finance Minister Hans Ape! at the weekend that the dollar's current depreciation was too sharp, dealers said. Sterling was little changed at $1.8170/75 against its 1.8175/85 Friday228 words
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Article171 1977-11-29 8 TOKYO. Mon. The dollar for overnight delivery closed at 240.00 yen, unchanged from the opening and Friday's close, dealers said. The Bank of Japan bought an estimated US$5O million at 240.00 in late trading to support the dollar, bringing the day's total intervention to about $60 million, they said.171 words
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Article131 1977-11-29 8 HONGKONG, Mon. The US dollar closed virtually unchanged on Friday's closing New York levels, at 239.85/95 yen against New York's 239.75 midpoint equivalent, in quiet trading, dealers said. They said operators generally held back ahead of the US trade figures due today and amid end-of-month position squaring. The US131 words
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Article100 1977-11-29 8 Euro rates LONDON, Mon. Eurodollar deposit rates opened basically steady, dealers said. Among periods. One Month firmed point to around 1%, 1% per cent on a Friday end-of-perlod dealing technicality. Most other positions were virtually unchanged. Dealers reported fair end of month rollover business. Eurodollar opening quote* on No* 28100 words
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Article415 1977-11-29 8 LONDON, Mon. US straight bonds met renewed professional buying Interest and rose up to 1/4 point, dealers said. Client interest was small and overall trading quiet. Canadians were relatively active but mixed with mark and guilder Issues generally untested, US convertibles showed little change but Japanese rose by up415 words
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Advertisement169 1977-11-29 8 1 r rtTau MONTHLY ECONOMIC REPORTS With monthly politicol supplement for UP-TO-DATE HANDY REFERENCE ASM RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide tp the latest developments that have taken place in all important sectors of the economies of countries in Eost and Southeast Asia. The169 words
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TRANSPORT AND COMMUNICATIONS
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1723 1977-11-29 9 WILLIAM DULLFORCE - Br WILLIAM DULLFORCE COPENHAGEN: Danish shipbuilders and shipowners are angry with the rest of the world. They see themselves as among the last true disciples of free trade while others flee for the shelter of state aid, distorting competition and preventing the natural adjustment of1,723 words
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Article193 1977-11-29 9 AF LONDON, Mon. As usual following a US holiday, business on the London freight market was slow last Friday, the day after Americans celebrated Thanksgiving. There was no more than a handful of fixtures. However, it could be seen that there was no Indication of a revivalAF - 193 words
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Article128 1977-11-29 9 HONGKONG Island Line is incorporated in Hongkong and plies the Far East Persian Gulf/ Red Sea ports. Singapore agents: Singapore Shipping Agencies. Ports of call: Eastbound Dubai, Damman, Bahrain, Jeddah, Hodeidah, Port Sudan, Bombay and Madras to Singapore, Bangkok, Hongkong, Keelung and Kaohsiung. Westbound Keelung, Kaohsiung, Hongkong128 words
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Article, Illustration469 1977-11-29 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Cherry Vllja (B. Barge) (1200 after Ocean Supply) 47 Federal Lakes (after Morchansk) 1/2 Frotabelra (after Ayuthla) 10/11 Mintsung (HOYP) (1100 after Yelena Stasova) 13/14 Ocean Supply (B. Barge) (after Cherry Vllja sails) 48 Pacific Glory (SMUV) (after Hodakasan Maru) 45 Palm Sea469 words
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Article113 1977-11-29 9 UNITED NATIONS, Mon. A further Interim meeting of the UN law of the sea conference will be held In New York in the first half of next month, the president. Mr. Shirley Amerasinghe of Sri Lanka, said today. He told newsmen it had always been113 words
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Article612 1977-11-29 9 ARRIVALS Service Local Operator Number Time From CAL CI331 0040 TPE/HKO/KUL CPA CX003 0145 HKO TMA TL303B 0215 BEY/DXB/ BOM/KUL MAS MH601 0715 KUL MAS MH682 0810 KCH SIA SQ101 0815 KUL MAS MH621 0850 PEN MAS MH607 0900 KUL MAS MH671 0945 PEN/KUL CAL CI 806612 words
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Page 9 Advertisements
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Advertisement116 1977-11-29 9 VV I IJl'. > H Bft r* 8 w /"S ><5. sv i* f a.v> £>*? r> -5Hffi r« If the gold price in Zurich vies for attention with the stock market in London, you can now keep your finger on both. Our IDD (International Direct Dialling) facility helps you116 words
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Article, Illustration1265 1977-11-29 10 DAVID BELL - After a traditional six-month honeymoon when he could do no wrong, President Jimmy Carter is now in the midst of a period when, by all accounts, he can scarcely do anything right. But in spite of his present difficulties, the US President could beFT - 1,265 words
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986 1977-11-29 10 STEPHEN BRONTE - ■y STEPHEN BRONTE FT TOKYO: Two million Japanese travellers went overseas last year, but only 20,000 of them took alone credit cards. So Is cash still king in Japan? Not quite. In recent year, domestic credit cards have been booming In popularity, Increasing InFT - 986 words
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Article, Illustration1545 1977-11-29 10 THE scramble to find alternative sources of energy is on solar and nuclear energy are two prime choices. From London, the Financial Times' Jeremy Bugler reports on sun-power and Roy Hodson on Britain's decision to opt for the nuclear alternative. FT A NEW book published InFT - 1,545 words
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Article, Illustration1057 1977-11-29 10 LANCE GAY - By LANCE GAY NYT DETROIT: Thirty years ago, you could still walk into a brewery and spot a classic broad-girthed German brewmaster tapping the beer keg for the first time after the water, yeast, sugar, hops and corn grits had finished their 30-day alchemy.NYT - 1,057 words
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Page 10 Advertisements
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Advertisement162 1977-11-29 10 collectinq Oriental flNTioqEj i 4 by Judith Moorhouse and Dries Blitz G3 Hamlyn Group, London. Oriental antiques have always fascinated collectors s?rXwe U^s? e TMfhA evokln th «y <*> exotic and Inscrutable East. It Is, however, widely believed that they are too K?h^J he a^ age This myth te p?ssSL£d162 words
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402 1977-11-29 11 KUALA LUMPUR, Mon At least 80 engineers in Malaysia are unemployed because the government and private sector want only experienced engineers, the president of the Engineering Alumni Association of the University of Malaya, Mr Ourmlt Singh said yesterday. The figure was determined402 words
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Article102 1977-11-29 11 Reuter KOTA KINABALU. Mon. The Malaysian Government will soon ask Parliament to approve plans to spend MSI 17 million on development projects in Sabah. More than $100 million from the total would be spent on building arterial roads and bridges to connect remote areas ofReuter - 102 words
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Article273 1977-11-29 11 Reuter KUALA LUMPUR, Mon. The Malaysian Rubber Exchange and Licensing Board Is drafting a Bill (or Parliament to set up a commodity exchange soon. Its chairman Abu Bakar Pawanchee, said. He hopes the Bill will be completed in a month's time so that the exchangeReuter - 273 words
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Article, Illustration199 1977-11-29 11 COMPANY director Christopher Lifter (right) will score a double first when he boards the Concorde on the first British Airways/SIA supersonic service from London to Singapore on Dec 9. Mr. Lister of Reinsurance Management Corporation of Asia Pte Ltd was also Singapore's first passenger to fly on199 words
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606 1977-11-29 11 Agencies MANILA. Mon. The president of the World Food Council said today the world's major financial institutions have agreed to help finance specific food plans in food-short countries in Asia, Africa and South America. Mr. Arturo Tanco Jr., Philippines Agriculture Secretary, returnedAgencies - 606 words
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Article71 1977-11-29 11 THE Singapore Institute of Management (SIM) will hold four courses in January and February next year. Three of them, "Work study for improving office productivity," "Industrial health and safety," and "Managing conflict in industrial relations, will be held In the evenings at the SIM conference71 words
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141 1977-11-29 11 THE National Productivity Board will conduct three courses on financial management and industrial affairs next month. The Introduction to Financial Management course is meant to equip owner-managers, managers and supervisors without formal training in accounting and others who need an understanding of financial management accounting141 words
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149 1977-11-29 11 AFP MANILA. Mon. President Marcos yesterday voiced deep concern over the growing protectionism in world trade and warned trade restrictions could spark "more tensions In the world." Mr. Marcos made the observation when he received a visiting delegation of the International Labour Organisation (ILO) headedAFP - 149 words
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Article104 1977-11-29 11 THE three Joint industrygovernment training centres last year incurred expenditure of $3.7 million and had over $7 million worth of fixed assets. This was revealed in the annual accounts of the centres Philips, Rollel, and Tata for the year ended March 31, 1977, which were presented104 words
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Article107 1977-11-29 11 Reuter BANGKOK, Mon. Hungary has signed a contract to buy 384,000 metres of cotton fabric worth about five million baht (*****.000) from Thailand. A spokesman for the Textiles Association of Thailand said the contract was signed here during a visit of a Hungarian government delegation lastReuter - 107 words
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260 1977-11-29 11 THE Telecommunications Authority of Singapore will spend about $200 million over the next five years to install electronic telephone switching equipment. Hie system, to be introduced from 1979, will make Singapore one of the few countries in the world where push-button electronic telephones are260 words
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839 1977-11-29 11 AP NEW DELHI. Mon. The recent decision by International Business Machines (IBM) Corporation to close Its operations In India followed years of official and unofficial harassment, Industry sources said. "It's a case of political victimisation," said one Indian businessman. The mammoth computer maker,AP - 839 words
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Article167 1977-11-29 11 AFP NEW DELHI, Mon. The second meeting of the IndoAustralian Joint trade committee expressed satisfaction in the increase in bilateral trade between the two countries over the last year. There was, however, scope for considerable expansion because of many areas of complementarity between the economies of theAFP - 167 words
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Advertisement135 1977-11-29 11 Stay on-line I >• m\ mm' with IDD When you need to budget a hectic day, it helps to know you can time your overseas calls to the minute. Our IDD (International Direct Dialling) facility gives you virtual on-line access to the leading cities of the world. Pick your time.135 words
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1277 1977-11-29 12 TOKYO, Mon. Prime Minister Takeo Fukuda pushed through a drastic Cabinet reshuffle, retaining only three of 21 ministers in a move aimed at upgrading his government's ability to cope with the pressing economic problems now facing the nation. Mr. Fukuda had previously accepted the1,277 words
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Article405 1977-11-29 12 Reuter TOKYO, Mon. Japan is expected to express readiness in talks next month with the European Economic Community (EEC) to cut import duties on goods such as whisky, brandy, chocolate and biscuits. Earlier, the Foreign Ministry said Japan and the EEC would meet in Brussels onReuter - 405 words
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Article, Illustration66 1977-11-29 12 A VIEW of a section of the new $13 million arrival terminal at Paya Lebar Airport which will have the latest in baggage and passenger handling facilities. The terminal which will open on Dec. 1, has been designed to allow optimum passenger and baggage flow and66 words
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Article809 1977-11-29 12 LONDON. Mon. Prtces closed mixed after a mostly easier session and overall quiet conditions. dealers said. Government stocks remained around Friday's closing levels after small opening gains had been erased on lack of Interest, while leading Industrials were occasionally a penny or so off the bottom on cheap809 words
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Article127 1977-11-29 12 Reuter HONGKONG, Mon. Hongkong recorded a HK$479 million (SS24O million) trade deficit In October after an adjusted $62 million surplus In September and a $215 million deficit In October 1976, provisional Census and Statistics Department figures show. October domestic exports and re-exports fell to $3.80Reuter - 127 words
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407 1977-11-29 12 TERESA LIM - By TERESA LIM SINGAPORE is active and important as a marine insurance market. But while the cargo market here is fairly sophisticated, the hull market is still in Its Infancy. This is true of hull insurance although the Singapore registry Is rapidly expanding, Mr.407 words
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Article158 1977-11-29 12 Reuter MANILA, Mon. The Philippines registered a balance of payments surplus of US$l66 million (Ss39B million) in the first 10 months of the year compared with a deficit of $119 million in the same period last vear. The Central Bank said the main reason was theReuter - 158 words
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765 1977-11-29 12 SALMA KHALIK - »y SALMA KHALIK BANQUE Natlonale de Paris (BNP) has set up a regional centre here as part of a plan to provide greater administrative efficiency in its large network of branches around the world. However, Mr Claude Blangero, BNP's manager for Asean, emphasises that765 words
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Article223 1977-11-29 12 TIGERS Polymer of Japan, a plastic hose manufacturer, has set up a plant in Singapore, the first of its kind In South-east Asia. Production will start on Thursday and estimated output for the first year is $1.3 million, rising to $3.7 million in 1983. The executive director223 words
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Page 12 Advertisements
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Advertisement15 1977-11-29 12 REDIFFUSION Network SPANS Singapore MORE THAN 92.0QQ SETS INSTALLED ISLAND WIDE the great family entertainer15 words
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Advertisement121 1977-11-29 12 A NEW WAY TO REACH OVER 95.000 SENIOR MANAGEMENT MALAYSIA, SINGAPORE, HONG KONG NOW FAR EASTERN ECONOMIC REVIEW INTRODUCES LOCAL ADVERTISING EDITIONS MARKET BY MARKET FOR HONG KONG, MALAYSIA, SINGAPORE STARTING JANUARY 1978 FEER SUBSCRIBERS Average Earnings U5530,400 p.a. Responsible For Purchase Of 18.3 Air Tickets and 58.1 Hotel Nights121 words
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