The Business Times, 23 December 1977
1977-12-23
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12
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The Business Times
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Title Section9 1977-12-23 1 BUSINESS TIMES M.C.(P) 300/1/77 FRIDAY, DECEMBER 23, 1977 50CENTS9 words
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NEWS IN BRIEF
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Article52 1977-12-23 1 AFP TOKYO, Thurs. Japan's No. 1 non-ferrous metal producer Mitsui Mining and Smelting Co. announced temporary shutdowns at several plants on its zinc mine at Kamioka today. The shutdown at plants In Glfu prefecture, west of Tokyo, is aimed at dealing with a persistent slump in demand andAFP - 52 words
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Article40 1977-12-23 1 AFP KUALA LUMPUR, Thurs. The powerful youth wing of the ruling United Malay National Organisation (Umno) today requested the government to be firm in its negotiations with the British on Concorde flights over Malaysian airspace. AFPAFP - 40 words
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Article40 1977-12-23 1 Reuter KUALA LUMPUR, Thurs. The "black box" voice recorder of a hijacked Malaysian airliner which crashed killihg all 100 people on board has been found, raising hopes that the mystery surrounding the disaster might be solved Reuter.Reuter - 40 words
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Article29 1977-12-23 1 Reuter BRUSSELS, Thurs. Mr. Gullo Brunner, Common Market Commissioner for Energy, said today the oil exporting nations should have frozen prices for longer than six months. Reuter.Reuter - 29 words
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Article35 1977-12-23 1 AFP MANILA, Thurs. The Asian Development Bank today announced approval of a US$3mlllion (Ss7 million) loan to Western Samoa and technical assistance grants to South Korea and Burma for development projects. AFPAFP - 35 words
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Article35 1977-12-23 1 AFP TOKYO, Thurs. A consortium of 10 Japanese banks, led by Mitsui Bank, signed an 8,000 million yen (about Ss77 million) loan agreement to help finance housing construction in Thailand. AFP.AFP - 35 words
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Article38 1977-12-23 1 Reuter NAIROBI, Thurs. Uganda, its foreign exchange earnings swelling with coffee exports, is to be more selective in choosing its suppliers abroad and is looking for countries willing to extend credit terms, President Idi Amin said.Reuter - 38 words
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Article29 1977-12-23 1 AP MANILA, Japan contributed 814 million yen (557.02 million) to the Asian Development Bank's technical assistance special fund today its 11th donation to the fund. APAP - 29 words
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Article70 1977-12-23 1 UPI NEW YORK, Thurs. Stocks headed sharply and broadly higher today in response to a sharp rise of the dollar on foreign exchanges. Trading was&ctive. As a result, the Dow Jones industrial average was ahead 7.37 points to 821.30 shortly before 11 a.m. Analysts said the Dow wasUPI - 70 words
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Chief Price Changes
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Article, Illustration165 1977-12-23 1 STEADY conditions ruled in quiet trading on the Stock Exchange of Singapore yesterday. Across-the-board gains outnumbered losses three to one. Consequently, the Business Times index rose 4.69 points to 488.11 while the Straits Times Industrial share index inched 0.42 point up to 261.89 Sunfei Beai DBS Setron165 words
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Article115 1977-12-23 1 Foils Most active Hong Kong Tin 9.30 .20 Olympla Tanjong Tin 4.72 .12 122.000 Kramat Tin 5.70 .10 K.L. Kepong 74.000 DBS 3.52 .08 O. Ceramics 91.000 Town and City 1.00 .04 B. Raya 61.000 Genting Lnchcape Sanyo 2.05 2.25 2.78 .04 .04 .04 Total Turnover: 1.26115 words
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Article, Illustration1197 1977-12-23 1 TERESA LIM - UPTURN LIKELY IN EARLY '78 By TERESA LIM FALTERING US economic policy has generated such uncertainty that local money market observers'* predictions for the future of the US dollar are Just as erratic as the path of the dollar Itself may well be In the1,197 words
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Article145 1977-12-23 1 AFP KUALA LUMPUR, Thurs. The Asean Preferential Trading Arrangements (PTA) agreement which came into force on Aug 31 will be fully Implemented on Jan. 1. The Minister of Trade and Industry, Oatuk Hamzah Abu Samah, said the first batch of 71 items would be granted tradeAFP - 145 words
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687 1977-12-23 1 CHAN BONG SOO - By CHAN BONG SOO STOCKBROKERS In Singapore generally feel that the newly announced abolition of the 25 per cent surrender rule on the Investment dollar premium market will prove beneficial to the Singapore and Malaysian stock markets in the long run. The abolition687 words
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Article323 1977-12-23 1 AFP AP KUALA LUMPUR. Thurs. Malaysia stands firm by its decision not to allow the supersonic Concorde aircraft to overfly its territory. "The Impasse could only be solved through discussions between the British and Malaysian governments," Communications Minister Tan Sri Manlckavasagam said. The minister addedAFP; AP - 323 words
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271 1977-12-23 1 THE International Monetary Fund invites bids for its 17th monthly gold auction oh Jan 4. The amount for sale > will again be 525,000 ounces, with the minimum bid pegged at L 1,200 ounces, r The common price method will be271 words
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596 1977-12-23 1 THE revised Building Operations and Works Engineering Construction Regulations (1977) gazetted on Dec 16 are a sobering reminder that death and injury are common occurrences in the building and construction industry. Revoking the 1971 edition, the revised regulations. from Jan 1. reflect a growing concern596 words
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Page 1 Advertisements
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Advertisement42 1977-12-23 1 COPIES ANYTHING. FITS ON A TABLE-TOP. SEE THIS PAGE SEE BACK PAGE INSIDE Overseas New*/ TV Radio Overseas News/ Crosswords Local Co. New» International Co. News Local Stocks -P2 Overseas Stocks Commodities .pj Transport 6 ■Pi Communications Features .pe Local Overseas News42 words
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Advertisement155 1977-12-23 1 When all banks are pretty much the same, ACBC service makes the difference. Everyone knows that all banks offer pretty much the same facilities to their customers. But what makes one bank better than the other is its service. Whether you are opening a letter of credit or you need155 words
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Advertisement67 1977-12-23 1 Merry Christmas and 3 Happy Np* Tear to all our customers, friends and associates SINTAT Rent-a-Car Christmas Eve $35 per person New Year's Eve $40 per person Set Menu (inclusive of Tax Service Charge) Free Novelties Booking Now Open! Exciting musical entertainment from CHERYL THE TRI-STARS Extension to 2.00 a.m.67 words
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OVERSEAS
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672 1977-12-23 2 Agencies LONDON, Thurs. Losses by the European synthetic fibre industry are expected to total £500 million (552.2 billion) this year against £350 million last year. JohA Harvey-Jones, a director with Imperial Chemical Industries said in a note to employees that this would bringAgencies - 672 words
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Article340 1977-12-23 2 Reuter BRUSSELS, Thurs. The EEC Commission Is due to discuss at its Jan 25 meeting proposals on providing guarantees for European mining companies' Investments in developing countries. The plan have not yet been finalised after six months' discussion because of sharp differences of opinion within theReuter - 340 words
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Article22 1977-12-23 2 WELLINGTON, Thurs. New Zealand's current account deficit widened to NZ$lO5 million (SS24B million) in November from $70 million in October.22 words
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204 1977-12-23 2 EAST BERLIN, Thurs. East German Premier Willi Stoph yesterday called for urgent measures to cut consumption of imported raw materials and fuel. At the same time Mr. Stoph, presenting next year's economic plan to the Golkskammer (Parliament) In East Berlin, announced that the204 words
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93 1977-12-23 2 LUXEMBOURG. Thurs. The Common Market yesterday announced the final instalment of a US$lBO million (*****.2 million) aid package to Portugal agreed two years ago. The .EEC's long-term financing organ, the European Investment Bank, said in a statement the last nine million Units of Account in93 words
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693 1977-12-23 2 Reuter LONDON, Thurs. The London Business School Centre for Economic Forecasting expects UK gross domestic product to grow by only 3 per cent next year even assuming income tax cuts of £2 billion (SsB.B billion) In the spring budget. The latest UK TreasuryReuter - 693 words
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498 1977-12-23 2 Reuter LONDON, Thurs. Britain's motor Industry could make progress towards solving its problems during the coming year. Its outlook, however, is still endangered by adverse reports about its troubles. An Independent economic survey by the Economist Intelligence Unit (EIU) also said thatReuter - 498 words
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167 1977-12-23 2 UPI ATLANTA, (Georgia), Thurs. A financial" deal between Mr. Bert Lance and a Saudi Arabian who has offered to buy 60 per cent of his stock in the National Bank of Georgia (NBG) will likely take several months to complete, an NBG spokesmanUPI - 167 words
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369 1977-12-23 2 UPI LOS ANGELES, Thurs. A Korean-born Los Angeles businessman has testified before the Securities and Exchange Commission that he channelled US$3OO,OOO (*****,000) In cash from a Dallas firm to a Korean embassy officer In Washington during a two-month period. The businessman, Howard Lee,UPI - 369 words
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566 1977-12-23 2 AP LONDON, Thurs. The International Wheat Council's December wheat, coarse grains and carryover stock forecasts for this year indicate that the world will not go hungry next year. Looking still further ahead, the IWC said "The condition of the 1978 winter cropAP - 566 words
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Article256 1977-12-23 2 Reuter LONDON, Thurs. A Belgian businessman who went to a bank alleged to have been involved in a huge worldwide shares fraud found It was preparing to disappear. Prosecutor Michael Worsley told a London court yesterday that the businessman, Mr. Ferdinand Van Drunen, wasReuter - 256 words
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177 1977-12-23 3 Reuter MUNICH, Thurs. The West German industry Is showing more signs of expanding production over the next three months although export prospects are sllghtfy dimmer, the IFO Economic Research Institute said In Its November business survey. Manufacturers of primary products for basic and producerReuter - 177 words
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Article101 1977-12-23 3 Reuter PARIS, Thurs. French official gold and currency reserves fell 393 million francs (SSI93 million) to 101.67 billion last month. The Finance Ministry said currency holdings fell 305 million francs to 22.85 billion, reflecting support operations carried out on the market by the Exchange Stabilisation Fund.Reuter - 101 words
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Article90 1977-12-23 3 Reuter WASHINGTON, Thurs. The Treasury said It auctioned US$3 billion (557.08 billion of two-year notes at an ave.-age yield of 7.20 per cent. The Treasury said the average price for the notes was 99.863, and It set a 7.125 Ser cent coupon on theReuter - 90 words
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Article84 1977-12-23 3 Reuter TORONTO, Thurs. The Canadian Imperial Bank of Commerce said the performance of the Canadian economy will Improve at best only gradually In 1978, with real growth of 4 to 4V» per cent compared with Just over 2 per cent this year. In Its commercial letter, the bankReuter - 84 words
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634 1977-12-23 3 NYT Reuter WASHINGTON, Thurs. Higher prices for food and Toyota cars pushed the November consumer price Index 0.5 per cent more than that in the preceding four months. The highest prices for 1977 and 1978 model Toyotas were thought to be due inNYT; Reuter - 634 words
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Article169 1977-12-23 3 AP PITTSBURGH, Thurs. The US economy will continue to grow at a steady pace next year despite a shortage of capital expansion. Mellon Bank's chief economist, Norman Robertson, predicted continued recovery, provided the economy Is buoyed by moderate government spending. The bank ranks No. 17 in theAP - 169 words
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Article513 1977-12-23 3 Furore over weak on the wane NYT NEW YORK, Thurs. Belief is growing in foreign exchange markets that the dollar has been oversold and will be rallying in the months ahead. That the oil ministers of the Organisation of Petroleum Exporting Countries had decided on a defacto oil price freezeNYT - 513 words
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423 1977-12-23 3 NYT WASHINGTON, Thurs. President Carter's decision to ask for US$25 billion (5558.5 billion) of tax cuts should provide a net stimulus for an economy that might otherwise .have turned sluggish, but the larger than expected budget deficit now anticipated may cause someNYT - 423 words
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Article138 1977-12-23 3 AP DETROIT Thurs. The US car Industry will wind up this year with a 9,214,147 car output, third highest In history, a trade publication, Automotive News reported yesterday. As the companies prepare to shut down for the yearend holidays, output for this year is up 7.9AP - 138 words
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1060 1977-12-23 3 UPI AP WASHINGTON, Thurs. President Carter yesterday announced a series of shortterm actions designed to reduce oil imports and increase exports of American farm produce. Mr. Carter also said the US was ready to "Intervene to the extent necessary" to counter "disorderly conditions"UPI; AP - 1,060 words
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Page 2 Advertisements
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Advertisement138 1977-12-23 2 ft ft ft M ft °ECEMB£r I a 18 If I* r i« ■a -fj 7 r> V > %<» iW r HIGHLIGHTS FOR DECEMBER ISSUE: Pressing on to Petrochemicals: Singapore, already the most important oil refining centre in the east, is moving from merely processing crude to petrochemical products.138 words
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Page 2 Miscellaneous
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Miscellaneous305 1977-12-23 2 u THE WEATHER WEATHER report for 24 hours prior to 7.30 pm 011 Dec 22 at Singapore airport. Maximum Temperature 28 7°C Associated Humidity 83 Minimum Temperature 22.*7° C Associated Humidity 100 Hours of Sunshine 2 70 Rainfall in Millimetres 382 Total Rainfall for the Month 164 Total Rainy Days305 words
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Advertisement254 1977-12-23 3 The three bask needs and the three parts of BritonnicQ 3 1. To get at the facts oftan a single fact easily and quickly, without having to reed a long article in which that fact is embedded. This need is served by the 10-volume Micropeedia, or Ready Reference and Index.254 words
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Page 3 Miscellaneous
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Miscellaneous617 1977-12-23 3 THE TWO-IN-ONE CROSSWORD 30 31 24 Disrespectful letter to aunt 29 Sign of welcome, normally CRYPTIC PUZZLE ACROSS 1 Shove Into the sack? (4) 4 Everlasting song (0) 8 It starts the ball rolling (3) 10 Make some roustabout suffer? (4) 13 Marksman who lost the duel? (4-4) 14 Dry617 words
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COMPANY NEWS
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1005 1977-12-23 4 ARTHUR NG - ■r ARTHUR NG THANKS to higher commodity prices ruling during Its financial year ended Aug 31, 1977, Batu Kawan has now moved decisively out of the profit rut which it had fallen into since 1974/75. Group pre-tax trading profit attained during the year1,005 words
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514 1977-12-23 4 MANO SABNANI - ■y MANO SABNANI THE Stock Exchange of Singapore has requested Jack Chla-MPH to furnish a host of details on the> proposed acquisition of shares In Tung Yuan Enterprise and the Intended takeover of Hotel New Hongkong. In both proposed acquisitions, the SES asks514 words
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1311 1977-12-23 4 JAMES BARTHOLOMEW - BY JAMES BARTHOLOMEW FT THE RECENT publication of two books on SlaterWalker has revived memories of a controversial era. Most of the gogo companies which were famous then such as Jessel Securities, Vavasseur and Triumph Investment Trust have disappeared or remain onlyFT - 1,311 words
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Article47 1977-12-23 4 BERJUNTAI TIN: Company pre-tax profit 123,636,000 (117,531,368) for the First half year ended Oct 31, 1977. Output of tin concentrates 41,200 piculs (35,750 piculs). Alexandra Holdings: Group pre-tax profit 175,985 ($238,611) for the first half year ended Sept 30, 1977. Group operating income $290,011 ($285,056).47 words
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Article418 1977-12-23 4 Current Ex Date Total for Total far pent— ys 4 payment Date payable the year K Lan jut 8 3% Dec 1 Dec 23 8 3% 23 3% Premium Hld|i SHI Dec 7 Dec 24 5% 7%% KinU Kellas 200%I DecS Dec 28 200% 500% Wurnn 17% Dec418 words
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Article386 1977-12-23 4 TRUE to Its optimistic forecast Saint Piran continued to streak ahead for the first six months of the current year ending March 31, 1978 with pre-tax profit rising 62.5 per cent to £1.3 million. Since Saint Piran Is a holding company with a number of subsidiaries mainly386 words
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Article44 1977-12-23 4 THE following company meetings are due: William* Jack* and Co. (Malaya) Bhd.: Dec 23 at its registered office, Jalan 13/4 (Jalan Bersatu) Petaling Jaya, Malaysia at 12 noon. Malaya Giau Factory: Dec 28 at noon at 72A Jalan Tampol, Johore Baru, Malaysia.44 words
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Article771 1977-12-23 4 NYT NEW YORK: Given the stock market's precipitous drop this year, It is not surprising that Wall Street opinion is divided on tne prospects for many stocks. The computer makers are a case in point. An analyst of Lehman Brothers Kuhn Loeb is bullish on twoNYT - 771 words
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Article1541 1977-12-23 4 On Dec 21 TRADING in options on the Chicago Board Options Exchange rose to 101,314 contracts on Wednesday compared with 83,884 contracts on Tuesday. OPTION JAN APL JLY stock Alcoa 40 UNTRD 51/2 61/8 441/4 Alcoa 45 1 23/8 UNTRD 441/4 Alcoa SO 1/16 3/4 NOL 441/41,541 words
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Advertisement14 1977-12-23 4 Iced Cream. <•* xm Harveys Bristol Cream. The best sherry in the world. Eastern Agencies14 words
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INTERNATIONAL COMPANY NEWS
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161 1977-12-23 5 NORTH AMERICAN COMPANIES Reuter PITTSBURGH: Westinghouse Electric Corporation, a major builder of nuclear power plants, said It has concluded nuclear licensing agreements with three Italian firms. Under the agreements, with Aglp Nucleare, Flat TTG, and Breda Termomeccanica, Westinghouse will supply Information for the design andReuter - 161 words
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Article71 1977-12-23 5 MONTVALE: Fiat Motors of North America said it plans to offer domestically a new front wheel drive sedan model, codenamed the X-138, to replace Its current series Flat 128 model for the 1979 model year. The company said It has Increased its engine and transmission warranty for all 197871 words
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Article241 1977-12-23 5 AP WASHINGTON: The US Securities and Exchange Commission has accused Goodyear Tyre and Rubber Company of falsifying its books to cover up overseas payments and illegal corporate contributions. The tyre company agreed to a permanent injunction In US district court preventlng it from violatingAP - 241 words
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Article178 1977-12-23 5 AP ST. LOUIS: Joseph Friedman. who helped transform a profitless company into a US$l billion conglomerate, has died at the age of 71. Friedman was chairman of the board and chief executive officer of Chromalloy American Corp, which had its headquarters in a St. Louis suburb.AP - 178 words
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116 1977-12-23 5 EUROPEAN COMPANIES Reuter BRUSSELS: The EEC Commission ordered Distillers Co to end its system of differential prices which break EEC free competition rules. A commission statement said the company's pricing system restricts the export of scotch, whisky, gin, vbdka and "pimm's" from Britain toReuter - 116 words
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159 1977-12-23 5 Reute LONDON: Deutsche Bank managed or co-managed 113 Eurobond Issues equivalent to US$7.l9 billion In 1977 out of a total for the year of 316 issues, equivalent to $14.89 billion, figures Issued by Credit Lyonnals and Kredletbank Luxembourgeolse show. Credit Suisse White Weld was secondReute - 159 words
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Article78 1977-12-23 5 Reuter LONDON: The British Petroleum Co said it signed a second Brazilian offshore exploration contact, covering two blocks 'of 2,700 sq km each, with the Brazilian state oil group Petrobras. The first contract was signed in late 1976 and drilling began two weeks ago. Both agreements areReuter - 78 words
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Article105 1977-12-23 5 Reuter NEW YORK: Anaconda Co's brass division and striking workers at six of its US facilities will meet in Washington on Jan 10 in an effort to end the two and a half month old walk-out. A company spokesman said the meeting will be held atReuter - 105 words
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Article73 1977-12-23 5 ARMONK: International Business Machines Corp offered a dividend reinvestment plan for stockholders wishing to increase their holdings of IBM. The plan Includes an optional Investment feature which permits a participating stockholder to add payment of up to $5,000 In any quarter to dividends reinvested in IBM73 words
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Article71 1977-12-23 5 Reuter ROCHESTER: Eastman Kodak Co said it plans worldwide capital spending of US$495 million in 1978. The capital budget Is $65 million higher than the estimated $430 million to be spent this year by the company. Included in next year's spending plans are expenditures of $275 million for theReuter - 71 words
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Article152 1977-12-23 5 Reuter BRUSSELS: Banque Bruxelles Lambert saia 1977 net profits at Petrofina will probably fall 15 per cent from 1976 but the dividend will be unchanged at 174 francs net per share. Petroflna's 1976 consolidated net profit was 6.03 billion francs on revenues of 201 billion.Reuter - 152 words
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Article235 1977-12-23 5 ASIAN COMPANIES Reuter TOKYO: Despite sluggish domestic demand and the yen's appreciation, Hitachi hopes to maintain its consolidated net income for fiscal 1977 ending next March at the same level as last year's 70 billion yen. The company said It expects net sales on theReuter - 235 words
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181 1977-12-23 5 Reuter SYDNEY: Kathleen Investments (Australia) said it will make a one-for-four rights Issue of 2.46 million 50 Australian cent par shares at 75 cents per share to shareholders registered on Jan 13. Current Issued capital Is 9.85 million shares. Kathleen shares rose seven cents toReuter - 181 words
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Article124 1977-12-23 5 AP SUVA (FIJI): One of Fiji's largest locally controlled public companies, Navltl Investments, reported that continued heavy trading losses had put it In a "very difficult position." Naviti, which has hotel and trading Interests In Fiji, western Samoa and Solomon and Gilbert islands, lost 1.1 millionAP - 124 words
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Article117 1977-12-23 5 AFP NEW DELHI: Thirteen foreign firms have indicated their inability to operate in this country within the equity levels permitted under the terms of the government's Foreign Exchange Regulation Act (Fera). m Jr, h 1S K Wa i? tated In Parlia2?£ o y F lnanceAFP - 117 words
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Article89 1977-12-23 5 Reuter AUGSBURG: Maschlnenfabrik AugsburgNuernberg (MAN) said it concluded a 15-year deal with Hyundai Shipbuilding and Heavy Industries Co of South Korea under which Hyundai Is licensed to build and market some of MAN'S engines. The agreement relates to all two-stroke and fourstroke engines used both as main andReuter - 89 words
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Article1557 1977-12-23 5 FT WITH its acquisition of National Starch and Chemical Corporation, Unilever is at long last on the point of making a significant stride into the North American market. Unilever has had a significant interest in the US from the beginning of this century, in Lever Brothers' detergentsFT - 1,557 words
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Article85 1977-12-23 5 AFP TOKYO: Nissan Motor Co, a major Japanese carmaker, plans to produce cars in Nigeria in a tie-up with Nigerian Interests, Informed sources said. According to the sources a ,J olnt venture company will be established In the African country by Nissan, the Nigerian Government andAFP - 85 words
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Article117 1977-12-23 5 LOANS Reuter FRANKFURT: The main tranche of the forthcoming federal government bond issue of up to 1.5 billion marks is likely to be for 10 years with a 6 per cent coupon, bond market sources said. The issue, details of which are being set by the federal loanReuter - 117 words
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Article53 1977-12-23 5 Reuter I FRANKFURT: The Republic of Finland is raising a 150-million mark eight-year Eurobond with an indicated 6 per cent coupon, bond market sources said. Manager Oresdner Bank is aiming for an issue price at par. Final conditions will be fixed when the loan is signed onReuter - 53 words
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Article104 1977-12-23 5 Reuter COPENHAGEN: The Danish Finance Ministry confirmed a report in the financial paper Boersen that the Kingdom of Denmark is planning a new state loan of 20 billion yen to be floated on the Tokyo market early next year. Department chief Niels Soerensen of the loans sectionReuter - 104 words
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Article73 1977-12-23 5 Reuter FRANKFURT: The Kingdom of Spain has signed a US$3OO million seven-year Euroloan agreement In Madrid, Deutsche Bank said on behalf of its Luxembourg unit, Cle Financlere de la Deutsche Bank which acted as lead manager. Banking sources here said the loan carries a 7/8 per cent spread overReuter - 73 words
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Article44 1977-12-23 5 Reuter PARIS: The Nacional Financlera US$lOO million Eurobond due 1985/ 93 was priced at par with a floating coupon of one percentage point over London lnter4barik offered rates and a minimum of 6 per cent lead manager Credit Commerical de France said. Reuter.Reuter - 44 words
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Article88 1977-12-23 5 Reuter FRANKFURT: The 100 million mark 6 1/4 per cent 10-year bond for the InterAmerican Development Bank was priced at 100 1/2 per cent, bond market sources said. Pricing was originally expected to be around 99 1/2 per cent but demand for the issue Increased in line with theReuter - 88 words
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Article81 1977-12-23 5 Reuter NEW YORK: Salomon Brothers said It has increased yields on most Issues in the proposed U*****.3 million Municipal Assistance Corp offering of series JJ bonds. The bonds were Initially priced on Monday, but a Salomon spokesman said the yield structure has been altered to make for "a moreReuter - 81 words
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Article31 1977-12-23 5 Reuter ZURICH: The European Coal and Steel Community 80 million franc 4 per cent 15-year Swiss loan was heavily oversubscribed at its issue price of par, Credit Suisse said. Reuter.Reuter - 31 words
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Article101 1977-12-23 5 Reuter LONDON: The State of Mauritius has signed a US$37 million seven-year Eurocredit carrying a margin of 15/8 per cent for the first two and a half years and 1* per cent for the remainder, Lloyds Bank international said as lead manager. the remainder, Lloyds Bank International said asReuter - 101 words
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Article50 1977-12-23 5 Reuter t TOKYO: Nisshin Steel Co declined comment on a Japanese press report It Is considering a 50 million mark convertible bond issue in the German capital market In February. Tea Shim bun, the Industrial dally, said the company will decide on the plan in the near future. Reuter.Reuter - 50 words
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Article31 1977-12-23 5 Reuter PARIS: The European Investment Bank's US$5O million seven-year note Issue was priced at par with an 8 1/4 per cent coupon, lead manager Banque Arabe Internationale d'lnvestissement said ReuterReuter - 31 words
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Article68 1977-12-23 5 Reuter TOKYO: The government of Norway plans to issue a yen denominated bond In the Japanese capital market, Daiwa Securities Co said. Dalwa said It Is lead manager of a syndicate of Japanese underwriters for the issue, details of which have not been determined. Daiwa described as inaccurate aReuter - 68 words
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Article51 1977-12-23 5 AFP HANOVER: An international consortium headed by Norddeutscher Landesbank has granted a credit of US$B9 million to the Dow Chemical Company of the United States for Investments In Dow subsidiaries abroad. The loan is repayable from 1986 onwards. Dow Chemical has a West German affiliate at Stade, Lower Saxony.AFP - 51 words
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Advertisement547 1977-12-23 5 This months new Penguins f SCOTT FTTZGf RALD 111 14*1 IHKV THE IMPERIAL ACHIEVEMENT fl* ft** *n>l MtnOumw The Last Tycoon: F. Scott Fitzgerald Exhausted by Hollywood hackwork, Fitzgerald died before he could complete the book that many people regard as his masterpiece. His bittersweet novel of Hollywood in the547 words
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Article2356 1977-12-23 6 1*77 Higk Low CiafUjr Last Ma +orCir's dir Div c'rr Gk's yH Net P/E Vol C000) Day Hlgk Low SECTION ONE INDUSTRIALS 154 204 119 240 88* 205 109 260 422 140 134 105 58 212 57* 155 150 182 350 91 Aetna Alcom Allied Choc Bata2,356 words
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Article1205 1977-12-23 6 BID and offer price* officially luted nd kniiMi ii nd "Jlgftwl to the Stock bckiin of Singapore yeatorday with tic gTg fc r .'f «™2ed ikowi in bracket* in loto of I.OOC uoiU "Perilled. All a®* Settlement Contract, art Si«J after the world "Sett". Board doala (in1,205 words
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Article1367 1977-12-23 6 BID and offer prices officially listed and business in and reported to the Kuala Lumpur Stock Exchange yesterday with the number of aha roe traded ahown in bracket* in lots of 1,000 units unleas otherwise specified. IHOUSTRI AkS Ajinsmets (2 108 21M). Alsem (1.708 1 728) (1)1,367 words
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Article66 1977-12-23 6 STRIKING price* of the stock option* officially lilted on the Stock Exchange of Singapore, the period*, bid and offer price* and business done yesterday, with the number of options traded ihowa in brackets. C and C (Dec 11.90) (0.658) (1) 0.66 (5) 0.67: (March $1.90) (0.678 0.725) (March66 words
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Article153 1977-12-23 6 SINGAPORK UNIT TRUST INCOME BOND UNIT (!<■■■#■«' pries far Dm m (Cm let fteee) The Commerce.... 1 78 1.89 INCOME BOND 1.09 1.11 The Smvinf rund 1.06 1.11 S port Proj rund 0.M 0.19 MARA BUMIPUTRA FUND 8 port Security (■»—>—* prtee* hr Dee B) Fund 1 U153 words
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Article175 1977-12-23 6 B O T 8 1/2% IMI (100,000) (100 Viß 101*8) B O T 7 VB% 1954 (100,000) (M*B 97W8) BOT Floating IM4 (100,000) (98VtB Mv,B) L T C B J IMS (100,000) (08HB 99 MB) Credit Lyonnala Floating 1981 (100,000) (97%8 98SS) C Itoh 8 1/8% 1984 (100,000)175 words
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Article121 1977-12-23 6 Rap Spora D Mark 7% 1982 (100,OA)) (102HB 103*8) Rap ilpora 8 1/2% 1983 (lOO.dOO) (102%8 103H8) Rap Spora 7 3/4% 1987. (100,000) (99%8 100H8) 4 3/4% 1/8/79 (250,000) (100.398 100.458) 8 1/4% 18/19/79 (260,000) (100.908 101.108) 4 3/4% 18/9/80 (250,000) (99.258 99.458) 8 3/4% 1/12/80 (250,000) (103.68B)121 words
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Advertisement596 1977-12-23 6 w 1 sinGapura FORUM j£ HOTEL Orachid inn 586 Orchard Road, S'pore 9. Tel: *****2 "an oasis In ttia oriant" 405/407 Havelock Road, S'pore 3. Tel: *****1 214 Dunearn Road, S'pore 11. Tel: *****2 6/7 Oxley Rise/ Penang Road, S'pore 9. Tel: *****1 9NGAPORE HLJON 681 Orchard Road, S'pore 9.596 words
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Article, Illustration733 1977-12-23 7 STEADY conditions ruled in quiet trading on the Stock Exchange of Singapore yesterday. Across-the-board gains were registered and, on balance, rises outnumbered falls three to one. Whatever advances made, however, were restricted to a few cents though most counters managed to recover losses sustained over the past three733 words
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Article262 1977-12-23 7 BARELY steady conditions Save way to an easier trend url lg the day on the Kuala Lumpur Stock Exchange yesterday. Volume remained low in selective trading. Share prices began on a hesitant note but a slightly steadier tone was detected by the end of the morning262 words
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INTERNATIONAL STOCK MARKETS
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Article366 1977-12-23 7 HONOKONO: The market closed lower In active trading yesterday mainly triggered by the British authorities decision to abolish the 25 per cent Investment dollar premium surrender rule. Dealers said heavy selling pressure, confined to blue chips, shaved 20 cents off Hongkong Bank to HKSI7.OO. Hongkong Land shed five cents366 words
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Article475 1977-12-23 7 I TOKYO: Share prices cloud lower yesterday after a firm t start as leading Issues fell on profit-taking. Dealers said the Dow Jones average fell 17.62 to close at 4,678.04 with volume 280 million shares. The new Index closed at 364.06, down 0.82. Blue chips rose Initially following President475 words
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Article403 1977-12-23 7 BYDNEY: The market closed firm yesterday on optimism about the business outlook and following the British decision to abolish the investment dollar surrender rule. Dealers said BHP gained eight cents to A 55.64 while NBW rose two cents to •5.40. Uraniums advanced with ZV t 3! at ntal U403 words
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Article159 1977-12-23 7 MANILA: The market closed firmer yesterday as all sectors maintained a gradual Increase. Dealers said turnover rose to 2.35 million pesos from Wednesday's 1.06 million. Lepanto rose two points while other mining issues maintained their previous level Trans-Asia moved up slightly and other oil Issues remained steady. In commercials.159 words
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Article123 1977-12-23 7 DEC 8 Bahts Asia Fibre 253 ♦6 Bangkok Bank 383 ♦4 Bangkok Invest. 320 >16 Bangkok-Metro-politan Bank Bau Berll Jucker 500 unch Charoong Thai Wire 300 ♦1 Dumex DusltThanl Faber Merlin First Trust 306 12 Qenera Finance Indo-Thal Industrial Finance Corp 2105 unch J And J Ho mm Jalaprathan123 words
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Article331 1977-12-23 7 AMSTERDAM: Share prices closed mixed on Wednesday. Dealers said In Dutch Internationals, Hoogovans added over one guilder, Akso and Philips edged higher, while Unilever and Royal Dutch were lower. Pakhoed fell 7.50 guilders after the announcement Its Paktank division Is likely to make a considerable second half loss. Other331 words
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Article151 1977-12-23 7 BRUSSELS: Belgian share prices were mixed In more lively trading on Wednesday. Bourse sources said Rnwvi, Cobepa, FN and all steel shares rose while Sidro, Unarg, Asturiennc, Momm and Flaoutrvmar fell. In foreign stocks UK. i Germans, Dutch and US were i mixed French were little changed, j Oold151 words
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Article283 1977-12-23 7 FRANKFURT: Shares gained up to three marks on Wednesday as FYF advanced in the wake of the firmer dollar trend. Market sources said selective purchasing by major institutional investors aided the trend with leading chemicals rising up to 2.50 and engineering. steel and autos by up to Domestic bond283 words
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Article159 1977-12-23 7 MILAN: The markst repeated Tuesday's uncertain trend and prices lost ground over a broad front on profit-taking In fairly active trading on Wednesday. Dealera said losses were made by chemicals including Ablc. Snla Vitcosa and Montedison while all other leading industrials were depressed. Flat was again lower despltl its159 words
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Article338 1977-12-23 7 PARI8: The market closed slightly lower on Wednesday. Business was restricted by the continuing strike of bourse personnel. Dealers said brokers quoted shares on the "terme" market by means of the special procedujt under which brokerage houses set prices In the shares In which they are specialised. Chlera, Sacilor.338 words
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Article279 1977-12-23 7 ZURICH: The market declined over a broad front on the dollar's weakness on Wednesday. Bourse sources said Swissair fell sharply on sustained selling. Banks, flnancials and Insurances followed the general down trend. Domestic bonds were steady In quiet trading, with state and cantonal bonds firmer on good demand, but279 words
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Article447 1977-12-23 7 JOHNNESBURO: Oold shares gained on Wednesday following the UK Treasury's abolition of the Investment dollar premium 25 per cent surrender rule. Dealers said the relaxation of this control will make London more competitive internationally as a share market especially with continued strength In the bullion price, but they do447 words
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Article257 1977-12-23 7 TORONTO: Bhare prices remained strong in moderate noon trading on Wednesday. The composite index rose nearly two points and gains outpaced losses 189 to IST Major oil issues conUnued to strengthen, with Husky Oil rising to 27H, Amalganatad Bourns to 43* and Pacific P«u to 38. Noon volume totalled257 words
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Article942 1977-12-23 7 NEW YORK: The dollar'• recovery in foreign currency markeu and failure by oil exporters to am on oil prices for 1978 helped the stock market state a broad rally in expanded trading on Wednes"fa-*, analysts ascribed most of the sains to technical factors following four straight declines, they942 words
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Article62 1977-12-23 7 financial times INDUSTRIALS Wednesday 440.0 Tuesday 479 g Week A|o 4740 POW JONES AVKRAGK INDUSTRIALS Wednesday 013.93 Tuesday 006.S Week Ago 03.68 LONDON DOLLAR PREMIUM Wsdnesday 92* to 93 Tuesday 90* to 90* H.K. HANG SENG Wednesday 411.03 Tuesday 411.97 Week Ago 418.00 SYDNEY INDUSTRIALS Wednesday 400.73 Tuesday 40162 words
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Page 7 Advertisements
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Advertisement425 1977-12-23 7 moico •mo lINGAPOAE Tanglin Circus, S'pore 10. Tel: *****1 The season's good cheer, Abounding, Exciting. As It Is every Christmas and New Year. And this year, even more sparkle, more festivities. Start your celebrations. At the Marco Polo. Ring *****1 for reservations. Seasons greetings from the management and stafT. gfai425 words
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COMMODITY REPORTS AND PRICES
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Article444 1977-12-23 8 THE SINGAPORE rubber market yesterday opened 0.25 cent higher following steadier London advices and advanced further on short-covering and upcountry buying but, to wards the morning close, fell back, on profit-taking, dealers said. Volume was small. The morning session finished slightly easier with January One444 words
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Article27 1977-12-23 8 Rubber: Dec 22 Singapore: January 192.75 cents (down 0.25 cents) Malaysia: 194.75 cents (unchanged) Tin: $1,720 (down >25) Official offering: 247 tonnes (down 28 tonnes)27 words
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Article287 1977-12-23 8 Prices in cents per kilo yesterday: Noon Cloae (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S prompt f.o.b. 192.00 193.00N 191.75 192.75N Int. 1 R.S.S January 193.00 193.50 192.75 193.25 Int. 1 R.S.S. February 194.00 194.50 193.75 194.25 Int. 2 R.S.S. 191.75 192.75N 191.75 192.75N287 words
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Article98 1977-12-23 8 NOON SSR and SMR prices yesterday: RAS January (Current Mtfe) Buyer* Seller* (cent* per kg) February (Forward Mthl Buyer. Seller* (cent* per kg) SSR 20 88R50 (1-ton pallet) (1-ton pallet) 189 00 187.00 191 OON 189.00N 190.00 188.00 192. OON 190.OON MRELB SMR 5 CV SMR5L SMRS98 words
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Article430 1977-12-23 8 PRICES held barely steady in slow trading at the Singapore produce market yesterday ahead of the Christmas holidays. Copra was the most active. Even then, turnover was still low. Traders reported that the selling price of the commodity was going at $2 to S3 below the official prices.430 words
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Article314 1977-12-23 8 LONDON, Thurs. The terminal opened £0.35 to £0.95 per tonne belpw yesterday's 1700 hours levels but around £1 above the kerb close. Turnover totalled 1,372 lots. Market sources said values had fallen sharply on the late kerb In line with a sell-off In New York but easier sterling against314 words
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Article110 1977-12-23 8 HONGKONQ, Thurs. The market was quiet with prices unchanged, dealers said. Total turnover was 306 tons comprising Thais 97, Kwangtungs 121 and Australlas 88. There were no arrivals. (Prices In HK dollars per plcul, exgod own) Th«i While: rOO pet old crop Ist class 110.00 nom. 2nd 109 00110 words
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Article74 1977-12-23 8 C.I.F Rotterdam US dollars Der ton LONDON Malaysia 5% ffa bulk Feb Wednesday Previou* 500 atr 490 sir Sumatra 5% ffa Dec 520 pd 525 sir Jan 510 pd 507 50 sir Feb March 520 50 pd 495/500 pd 492 50 pd 485/487 50 pd April 490 pd74 words
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Article324 1977-12-23 8 LONDON, Thurs. Terminal coffee closed the morning quietly steady £7 to £24 higher. Volume totalled 598 lots Including five options and around 150 lots of cross trades. The advent of the holidays was reflected In the total volume. Commission house and Jobber selling in a quiet market, offset by324 words
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Article228 1977-12-23 8 THE STRAITS tin price In Penang yesterday fell by M 925 to f1,720 per plcul on an official offering down 28 tonnes to 247 tonnes. Values contained to weaken on lack of support In view of the approaching festive season coupled with late easiness on the London Metal228 words
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Article284 1977-12-23 8 LONDON, Thurs. Terminal cocoa opened with small gains and losses in most positions with spot December exceptionally showing a £25.50 decline. Dealers said liquidation pressure on spot Dec could be attributed to signs of Oct/Dec Ghana shipment declarations coming forward while today's raising by the International Commodity Clearing House284 words
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Article386 1977-12-23 8 HONGKONG, Thurs. Sugar futures closed easier with losses ranging from 0.10 to 0.34 US cents, in line with the overnight trend in New York, dealers said. March and May were the only Months traded on stoploss selling from commission houses, offset slightly by local speculative buying, they said.386 words
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Article156 1977-12-23 8 CHICAGO, Thurs. Soybean futures yesterday posted gains of 2Vi to cents a bushel at the end of Ught trading in a narrow price range. Professional selling was a weakening influence and the market showed small losses In early dealings. But commission house and professional buying and the strength in156 words
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Article77 1977-12-23 8 CHICAGO, Thurs. Wheat futures yesterday finished the session around the day's highs with gains of 2 1/4 to 1 3/4 cents a bushel. The market firmed early on short-covering and speculative buying and absorbed fair amounts of commercial hedge selling In light trading. Expectations that the US DA winter77 words
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Article265 1977-12-23 8 LONDON, Thurs. Copper wire bars finished the morning with all round losses of £2 per tonne. The early pre-market was subdued under the influence of the New York close but short-covering subsequently gave the values a boost following the downturn in sterling against the dollar. Three traded up to265 words
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Article248 1977-12-23 8 LONDON, Thurs. Silver was 0.2 to 0.4 pence per troy ounce down. Steadiness in the face of the overnight drop at New York was attributed by dealers to sterling's downturn against the dollar and lack of any undue pressure either way. On Wednesday, silver closed 2.6 pence up for248 words
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Article324 1977-12-23 8 THE KHOBAR in SlngaP° r yesterday opened at 5512,124, fluctuated narrowly In very dull condltlons, and closed at 5512.150. In LONDON, the gold market opened at U*****.30/ 60 and rose on some short-covering activities to close at U*****.70/ 90. The London morning fix was U*****.90, down 40 cents from324 words
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MONEY AND EXCHANGES
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Article569 1977-12-23 8 THE US dollar made good gains on the forex market yesterday In the wake of President Carter's itatement that the US might Intervene in foreign exchange trading. The Singapore dollar consequently took a heavy beating falling by 200 points against the US unit. The Ss/US$ dollar rate opened569 words
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Article51 1977-12-23 8 ACBC 7 Fir«t rkiMH. Algemene Bank 7 Bangkok Bank 7 HSBC 7 Bank of America 7 Bank of China Bank of Tokyo 7 7 Malayan Banking 7 Bank Negara Indonesia 7 OCBC OUB 6 l Chartered Bank 7 L'CB Chase Manhattan DBS 7 7 L'MBC L'OB 751 words
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Article175 1977-12-23 8 Asian rates ASIAN currency deposit Interbank rate* u at cloae on Dec 22: US Dollar* (Spot) Oftmr BW 7 days 1 mth 2 mths 3 raths 6 mths 9 mths 12 mths .7 3/4 7 V8 .7 1/4 7 1/8 .7 5/16 7 3/16 .7 7/16 7 5/16 .7 11/16175 words
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Article51 1977-12-23 8 RANOE of prices offered by discount houses on Dec. 22: Overnight 3H to 3%% Call deposit 3*« CMa Boytag 3-Month Treasury bills 3 1/4 3-Month Bank bills 4 13/18 3-Month CD S 9/16 6-Month CD 5 Sailing 3 1/B 4 11/16 9 7/16 5 3/4 Source: National Discount Co.51 words
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Article127 1977-12-23 8 Euro rates LONDON, Thurs. Eurodollar deposit rates were technically higher and saw little change in subse<iuent trading, dealers said. Periods were also adJusted higher on the loss of the Friday start. One Month was most affected and the turn of the year weekend (Dec 29/30) helped to push the rate127 words
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Article59 1977-12-23 8 AU8TRALIA/NZ exchanges on Dec 21: AUSTRALIA: U8 dollar 1 1365/1 1337 Sterling 0 6059/0 5986 Ninety-day air mall buying rates: Sterling 0 6242 US dollar 1 1670 Ninety-day forward buying riles Sterling 0.0019 U8 dollar 1 1313 NEW ZEALAND Sterling 0 5396/0 5367 US dollar 1 0190/1 0090 Ninety-day59 words
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Article251 1977-12-23 8 LONDON, Thurs. The dollar was marked sharply higher against major currencies after overnight news of measures designed to reduce US oil imports and clarified US policy on the dollar was announced by President Carter, dealers said. Dealers said initial trading is light and participants are still assessing the impact251 words
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Article224 1977-12-23 8 NEW YORK, Thurs. The dollar yesterday closed slightly higher on balance as an afternoon rally ahead of President Carter's statement on the dollar erased most of the morning's losses, dealers said. Carter said the US will Intervene In the foreign exchange markets to the extent necessary to counter224 words
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Article133 1977-12-23 8 TOKYO, Thurs. The dollar for overnight delivery closed higher in active trading at 241.25 yen, compared with a 241.00 opening and 240.73 at yesterday's close, dealers said. No Central Bank intervention was detected, they said. Trading volume was $342 million. The dollar rose steeply in early trading following President133 words
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Article118 1977-12-23 8 HONGKONG, Thurs. The US dollar closed around New York's closing levels after lack of Interest failed to sustain earlier firmness partly caused by President Carter's comments on the dollar, dealers said. It closed at 2.1230-50 marks and around 241.30-50 yen. However, sterling rose to US$l.BBlO-30 from 1.8760-80 overnight and118 words
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Article267 1977-12-23 8 EUROBOND price* quoted on Dec 22: SNCF8K84 Shell 8* SO Flat 8 82 Hydro Quebec 0 02 Flsons 8\ 02 Telmex0*84 RHMS02 TNT082 Midland Bank 8*i02 Ooetawken 7* 82 Ooetaverken 8*81 NCB887 Barclays 8 H 02 Australia7v>84 Australia8S02 Red path 0M Light Services Brazil 0 82 OestKontrotlbank 780 Oest267 words
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Article47 1977-12-23 8 FRANKFURT exchange opening quotes on Dec "Or US 2 1380/ 1430 (*****/ 1100) Cu lJaiw 8tg 4.010/030 D PI 92 45/60 8 Fr 104 55/85 Ut 2 44/46 F Fr 44 86/48.00 N Kr 40.97/41.12 B Fr (con) 6.385/400 B Fr (fin) 6.32/33 Yen 0 6775/9047 words
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Article71 1977-12-23 8 LONDON, Thurs. zinc finished the morning with losses of mostly £0.75 per tonne. This metal followed the general trend with early covering against easier sterling later giving way under slight profit-taking. Only 1,000 tonnes changed hands. On Wednesday, zinc closed £1.25 up for cash and Three Months. Dealers said71 words
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Article89 1977-12-23 8 LONDON, Thurs. Lead closed the ring with losses of mostly £0.50 per tonne. The early steadiness reflected the easier trend In sterling against the dollar, dealers said, but profittaking pared the advance In the ring. Three Months traded up to £374 Initially but finished the ring at £371. Sales89 words
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Page 8 Advertisements
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Advertisement316 1977-12-23 8 from Penguin H IN PENGUINS Yukio Mishima firmly upheld the traditions of Japan's imperial past which he believed were being slowly eroded by Western materialism. Disillusioned he astonished the world 1 in 1970 by committing hara-kiri or ritual suicide by disembcwelment. One of his last works, Runaway Horses, is now316 words
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TRANSPORT AND COMMUNICATIONS
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864 1977-12-23 9 CARTER CHOOSES BRANIFF NYT WASHINGTON, Thurs. President Carter yesterday chose Braniff International Airways to fly a newly authorised Dallas-to-London passenger route, disregarding a 4-1 vote by the Civil Aeronautics Board In favour of Pan American World Airways. His decision stirred Immediate denunciations by PanNYT - 864 words
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Article137 1977-12-23 9 AFP JAKARTA, Thurs. Jakarta will be endowed with a new inter* national airport by 1983, replacing the present Halim Airport, air transportation director General Kardono said here yesterday. The new Jakarta airport situated at Cengkareng, 30 km east of Jakarta, will be sufficient to serveAFP - 137 words
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313 1977-12-23 9 UPI WASHINGTON, Thurs. The Pentagon told Congress yesterday It may need nearly USS2 billion (554.7 billion) to modify C-5A and C-141 cargo aircraft as part of its programme to improve America's airlift for any European crisis. Details of the Pentagon's strategic lift Improvement programmeUPI - 313 words
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Article133 1977-12-23 9 AP LONDON, Thurs. North American grain rates matntained their recently steady-to-flrm tone yesterday. Two January loaders lifted US Gulf cargoes for Japan at slightly better rates. The "Sankosun" took 30,000 tons a*- US$lO.6O (F10) while another vessel received $11.50 (F10) for a 28,000-ton shipment. Trans-Atlantic grain fixingAP - 133 words
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Article, Illustration416 1977-12-23 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Asmara (1600 after Surcouf) 1/2 Baltlk (1500 after Kommunlst) 3/4 Botany Trust (Jake Tanker) (0800 after Benloyal Subject gas free) 13/14 Cherry Vllja (B. Barge) (1800) 48 Ibn Hayyan (1200 after Taimyr sails) 47 Iyo Maru (JPIB) (2300 after Sophie Rlckmers) 35/36 Kalemyo416 words
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250 1977-12-23 9 PORT ELIZABETH. (South Africa), Thurs. Strong winds and heavy seas yesterday delayed the arrival of the stricken 331,000-ton supertanker Venpet for repairs in Algoa Bay here. The Venpet collided with another supertanker, Venoll, off the Southern Cape coast 100 km west of here on250 words
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Article98 1977-12-23 9 Reuter BONN, Thurs. West Germany is scrapping plans to develop the alrsnip as a freight-carrier, official sources said yesterday. Officials at the Economic Cooperation Ministry said the Government was withdrawing financial support for the project following disappointing tests. They gave no more details. West Germany, which pioneeredReuter - 98 words
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Article92 1977-12-23 9 Reuter LONDON. Thurs. The Far Eastern Freight Conference has reported the following changes to currency adjustment factors (CAFS) following Its December review based on the average exchange rates from Dec 5 to 18. The CAF from Scandinavia is raised to 22 from 20, the CAF from FranceReuter - 92 words
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Article295 1977-12-23 9 UPI NEWARK, (New Jersey), Thurs. A Concorde supersonic flight from Paris bound for New York landed at Newark International Airport yesterday because of bad weather and low fuel supplies. An hour later, another New York-bound Concorde flight from London diverted and flew to Washington. The 94UPI - 295 words
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Article152 1977-12-23 9 Reuter BRUSSELS: Common Market Transport Ministers decided to ask EEC ambassadors here to take over discussion of commission proposals aimed at enabling the nine to ratify the UN Liner Conference's code of conduct. Belgian Transport Minister Jos Chabert told a press conference the ministers had beenReuter - 152 words
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Article98 1977-12-23 9 AFP HONOKONO. Thurs. A 70,000-tonne capacity floating dock built by Sasebo of Japan will be delivered here next week to Hongkong United Dockyard (HUD). The dock costs HKS4O million (Ss2o million) and will be installed at HUD's new dockyard under construction in the interharbour island ofAFP - 98 words
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Article694 1977-12-23 9 ARRIVALS Service Local Operator Number Time From KAL KE807 0015 SEL CAL CI331 0040 TPE/HKG/KUL MAS MH601 0715 KUL MAS MH682 0610 KCH SIA SQ101 0815 KUL MAS MH621 0850 PEN MAS MH607 0900 KUL MAS MH671 0945 PEN/KUL GIA GA980 1030 HLP BA BA844 1030 LHR/MCT694 words
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Page 9 Advertisements
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Advertisement384 1977-12-23 9 i f .1 c THE GREAT BOOKS OF WESTERN CMLIZATION These are the books that had to burn. For within the GREAT BOOKS are volumes that hold the ideas and thinking that challenge the fettered mind; the thoughts and theories that have built democracies, withered tyrants, opened new worlds, riddled384 words
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Article, Illustration903 1977-12-23 10 DAVID WHITE - BRAZIL'S enormous reserves of iron ore have turned out to be more of a liability than an asset because of the depression in the world steel industry. But there are strategic reasons for developing Brazil's mountain of iron, and if necessary the Brazilians willFT - 903 words
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Article1791 1977-12-23 10 MARIO MILLETTI - THIRD of a series on US banks and the federal agencies that regulate them. In this article, MARIO MILLETTI of the New York Times examines the ability of regulatory authorities to see to the soundness of the banking system in the wake of the explosion1,791 words
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Article741 1977-12-23 10 Reuter MADRID: With most toui operators reported to have reached agreement with hotel owners on substantia] price increases for 1878, Spain's tourist industry Is confident about prospects 4or the coming year. Although Spain Is at present entangled In political changes and economic difficulties, a recent meeting ofReuter - 741 words
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Article, Illustration1601 1977-12-23 10 ANN CRITTENDEN - Br ANN CRITTENDEN NYT HAVANA: The contracts of Cuba are as dazzling as the Caribbean. Oxen still 1 plough fields where blll- boards proclaim that the future belongs to socialism, 1 and horsemen ride down roads past model agricultural communities with a television set In everyNYT - 1,601 words
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Page 10 Advertisements
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Advertisement56 1977-12-23 10 NOW ON SALE at your regular bookshop. The phenomenal bestseller which has ta«en America by storm Dnr» S Te ry u° f a b .'.s Ck American «earch for his roots in Africa. V? V! 6 over 1,4 mH,ion hardback copies since its publication and it is continuing to top56 words
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314 1977-12-23 11 AFP KUALA LUMPUR. Thurs. The Soviet Union will continue to buy natural rubber from Malaysia despite its Increasing synthetic rubber production. Today, Mr. V.P. Borodin allayed fears that greater Soviet output of the synthetic, poly lsoprene, would affect her import of Malaysian naturalAFP - 314 words
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306 1977-12-23 11 DR. AHMAD Mattar, chairman of the Industrial Training Board and Minlster-ln-charge of vocational training and the Junior Trainee Scheme, will tour two plants In Jurong today. Dr. Mattar will lead members of the Tripartite Advisory Council (TAC), of which he is306 words
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308 1977-12-23 11 Reuter MANILA, Thurs. The Philippines could end the year with a balance of payments surplus of US$lOO million (***** million) compared with last year's deficit of $163 million. Central bank Ooverner Gregorio Licaros said at the end of the third quarter this year,Reuter - 308 words
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270 1977-12-23 11 AFP PEKING, Thurs. The official Chinese press today mentioned the National Trade Union Federation for the first time after 2V» years, when It reported the death of one of the leaders. The Communist Party People's Daily reported yesterday's funeral of Mrs. Chen Shao-MlnAFP - 270 words
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Article353 1977-12-23 11 AP SEOUL, Thurs. South Korea realised one of Its cherished dreams today when its annual exports hit the US$lO billion (5523.4 billion) mark for the first time in Its 30-year history. President Park Chunghee noted in a speech celebrating the occasion, that It tookAP - 353 words
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356 1977-12-23 11 UPI Reuter BANGKOK, Thurs. The Commerce Ministry has set tentative export targets of 1.2 million tonnes of rice for next year and 450,000 tonnes for the first quarter. Commerce Minister Nam Poonvathu said the targets, which compare with exports to date this year of 2.79UPI; Reuter - 356 words
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333 1977-12-23 11 Reuter CANBERRA, Thur?. Tariff protection remains the keenest topic in Australia as the country goes into summer holiday recess. The Australian Industry Development Association (AIDA), one of the most influential trade associations, has called on the government to replace the current review ofReuter - 333 words
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315 1977-12-23 11 UPI AFP TOKYO, Thurs. The United States has withdrawn its opposition to the sale of three computers by a Japanese company to China. The US had earlier opposed the sale In accordance with the regulation of the Coordinating Committee for Export to Communist areasUPI; AFP - 315 words
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283 1977-12-23 11 SINGAPORE Airline* (SIA) may introduce widebody aircraft on the Manila route in the later part of next year to meet the increasing passenger demand. SIA, upgraded its existing daily service to Manila with two additional flights a week on the Singapore-Manila283 words
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Article162 1977-12-23 11 AP NEW DELHI, Thurs. Former West German Chancellor Willy Brandt told India's Prime Minister Morarji Desai that relations between rich and poor nations could "explode" if their problems are not resolved in a realistic manner. An aide said yesterday that Mr. Brandt, 64, chairman of WestAP - 162 words
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Article86 1977-12-23 11 Reuter KUALA LUMPUR, Thurs. An EEC mission will visit Malaysia in the next two months to study manufacturing activities here. A Ministry of Trade and Industry statement said this was a follow-up of a recent visit by a 12-man Malaysia trade delegation to Britain, FranceReuter - 86 words
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967 1977-12-23 11 Agencies TOKYO, Thurs. Japan is not prepared to make any further tariff cuts or enlarge food import quotas in response to American requests. Foreign Ministry spokesman Kensuke Yanaglya said a solution to the current Japanese-Ameri-can trade dispute might be sought In other areas.Agencies - 967 words
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349 1977-12-23 11 Reuter MOSCOW. Thurs. The Soviet Union and Japan have decided to extend for one year a temporary agreement on fishing in each other's 320-km coastal zones, leaving quotas unchanged. Tass, the official news agency, said the accord allowed Soviet ships to take 650,000 tonnes fromReuter - 349 words
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359 1977-12-23 11 I THE 12-day project management seminar which ended yesterday was attended by 30 participants from 10 countries. The seminar organised by the Carl Duisberg Society of Cologne (CDS) in collaboration with the Asian Productivity Organisation and the National Productivity Board of Singapore was359 words
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Article135 1977-12-23 11 Reuter HONGKONG, Thurs. About 80,000 people, representing 4 per cent of Hongkong's workforce, were unemployed here In September. For Hongkong, which recently Initialled a restrictive new textile agreement with the European Common Market, this showed a drop of 6,000 since the last survey in March. The CensusReuter - 135 words
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Article119 1977-12-23 11 UPI TOKYO, Thurs. The Bank of Japan, the country's central bank, plans another cut in the official discount rate In January to reduce its swollen trade surplus, Informed sources said today. The rate, now stands at 4.25 per cent a year. Although the size ofUPI - 119 words
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Page 11 Advertisements
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Advertisement203 1977-12-23 11 KMTIKA MACHINERY SON. OHO. MARKETING MANAGER, IPOH BRANCH (Sttrthii taUry up It $3,(00 p.m.) The Company intends to set up a Branch Office in Ipoh to complement its machinery tratfini activities presently centered in Kuala Lumpur. The products we are marketing include machine tools, construction equipment materials handlini equipment and203 words
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229 1977-12-23 12 LOCAL manufacturers should Identify the export potential of their products before they enter new markets. This is why market research Is Important, says the Department of Trade's "Commercial Bulletin" in its latest issue. The location of the market, its size and population229 words
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Article87 1977-12-23 12 THE new Australian High Commissioner to Singapore Is Mr. Geoffrey Price, MBE. He succeeds Mr. Laurence Corkery, who has returned to Australia. Mr. Price, 47, will relinquish his present position as head of the Department of Foreign Affair's South-east Asia branch. He has also served in Paris,87 words
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Article50 1977-12-23 12 THE postal services department will be starting a reciprocal express delivery service with the West Germany and Thailand (nonrural) on Jan 1 and with Britain and Northern Ireland on lan 3 1978. The service will be available for all classes of postal articles except parcels and Insured articles.50 words
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Article, Illustration846 1977-12-23 12 PETER CHIA - By PETER CHIA THE six-month oil price freeze announced yesterday in Caraballeda, Venezuela, will not mean a freeze in oil product prices for Singapore consumers, i On the contrary, an oil company spokesman yesterday warned that there may still be an Increase846 words
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503 1977-12-23 12 CARABALLEDA. Thurs. Saudi Arabian Oil Minister Sheikh Zaki Yamani claimed credit for the decision by the Organisation of Petroleum Exporting Countries (Opec) to freeze oil prices at current levels. He said after a two-day meeting. "Saudi Arabia is taking responsibility for fixing prices."503 words
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Article226 1977-12-23 12 AP LONDON. Thurs. The European Economic Community plans to present President Carter an urgent proposal for joint settlement of the West's lingering trade quarrel with Japan. They have no intention of organising a EuropeanAmerican trade front against Japan, though. "It's the other way around," aAP - 226 words
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524 1977-12-23 12 JOHN TAN - •y JOHN TAN JAPAN OVERSEAS Enterprise Association, representing Japanese overseas investments worldwide, is currently conducting a study on whether the Singapore worker is up to the standards expected of him by Japanese investors. This study, which could have considerable implications for the future of524 words
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Article122 1977-12-23 12 THE cost of bird's nest soup in restaurants has remained unchanged despite the rising market cost of the delicacy. Imported from Indonesia and Thailand, birds nest wholesale prices have gone up by 10 to 15 per cent over the past six months. Top grade house or122 words
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504 1977-12-23 12 AP Reuter TOKYO, Thurs. Japan intends to reduce its trade surpluses next year with a reflatlonary budget, but a government official today warned that no immediate and drastic increase in imports can be expected. Mr. Hiroshl Sawano of the Economic Planning Agency said exportsAP; Reuter - 504 words
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Article131 1977-12-23 12 IRD THE Inland Revenue Department (IRD) will soon be computerised. With all the personal particulars of tax payers filed for lmmei dlate recall, tax collection in the future will be more efficient. Tax payers will no longer need to gc> through the tedious business ofIRD - 131 words
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470 1977-12-23 12 COLIN CHEI - Br COLIN CHEI THE Private Investment Company for Asia (Pica) yesterday announced that the Singapore offshore office of the First National Bank In Dallas has syndicated a US$B million (5518.9 million) mediumterm loan for P.T. Anpa International of Indonesia. The loan, which was signed470 words
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Article284 1977-12-23 12 THE private sector, which plays a key role In the economic development and well-being of Singapore, can also play a prominent role in its cultural development. This was pointed out by Mr. Goh Chok Tong. Senior Minister of State for Finance and MP for Marine Parade, at284 words
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Article748 1977-12-23 12 LONDON, Thurs. The stock market closed mixed after a quiet session. Medium and longdated government stocks were above lows with falls of around after K while shorts remained 1/16 or so easier. Leading Industrials continued steady to a shade higher and at 3 pm. the Financial Times Index748 words
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Advertisement70 1977-12-23 12 --OW-; w <t A The Love of ne ooking rf yf' ,V I Vrv /> V JrC :*//> H .yA A Kenneth Lo ragtona of China Pafctof, Shanghai, Canton, teachuan-and ghraa a aatocltonal typical dtohaa Mparato praparaHen. eooldng and aarvlng toalnie- j* «*eM information an ChkiiM lnQr#dt#nti. o»ar 100 daHctoy70 words
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