The Business Times, 10 January 1977
1977-01-10
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10
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The Business Times
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Title Section10 1977-01-10 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, JANUARY 10, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article76 1977-01-10 1 AP TOKYO, Sun. A million Chinese poured Into Peking's main square today to honour the late Premier Chou En-lai as wall posters demanded that Chou's protege be elevated to premier, Japanese reports from Peking said. Japan's Kyodo news service said the posters calling for the elevation ofAP - 76 words
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Article81 1977-01-10 1 Reuter LONDON, Sun. The Sunday Times said today that if Indian Premier Indira Oandhl succeeds In raising the standard of life for the Indian masses, the end may be held to Justify the means she is using. "But there is no reason to believe that the supressionReuter - 81 words
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Article70 1977-01-10 1 AP LISBON Sun. Reliable sources in Lisbon said yesterday Angola has closed Its airport, harbour and international borders in a move apparently linked to the Introduction of a new currency. Diplomatic and airline sources said the closure took place shortly after midnight on Friday following an Angolan GovernmentAP - 70 words
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Article83 1977-01-10 1 UPI PARIS, Sun. Police confirmed today the arrest of Abou Daoud, a hard-line Palestinian leader suspected of participating In the massacre of Israeli athletes at the Munich Olympic Games in 1972 and in other terrorist attacks. Police said the arrested Daoud, a leader of the AlUPI - 83 words
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Article71 1977-01-10 1 Reuter TEHERAN. Sun. The Iranian Government said today Its oil exports have dropped by 1,500,000 barrels a day in the past few weeks. It did not say what the new export figure was, and December figures have not yet been announced. But, in November, average dallyReuter - 71 words
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Article54 1977-01-10 1 AP MANILA, Sun. Libya will formally open its diplomatic mission in the Philippines within the next few days, the Foreign Office here said today. Until recently, the Philippines had accused Colonel Muammar Gaddafi's government of giving financial and moral support to Muslim secessionist forces fighting government troops inAP - 54 words
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Article77 1977-01-10 1 Reuter COLOMBO, Sun. The Sri Lanka Government today began calling up all army volunteer units as a 16-day rail strike threatened to spread to bus, electricity, petroleum and other vital services, official sources said. Several unions claiming a total membership of several hundred thousand workers in theReuter - 77 words
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Article55 1977-01-10 1 UPI JERUSALEM. Sun. Government legal experts decided today to stop the police investigation into charges that led to the suicide last week of Housing Minister Avraham Ofer. But fresh allegations that the ruling Labour Party received illegal campaign funds in 1973 hiay lead to a new policeUPI - 55 words
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Article42 1977-01-10 1 Reuter ISLAMABAD, Sun. The way has been prepared for Pakistan's first general election since Prime Minister Zulfikar Ali Bhutto came to power five years ago. The Prime Minister has announced that elections will be held on March 7. Reuter.Reuter - 42 words
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Article111 1977-01-10 1 THE following list of stocks gives the 10 most dealt in last week. It gives the turnover in thousand of units, closing prices on Friday and high and low for 1976. Company Turnover Prices High Low '000 Jan 7 1976/77 Haw Par International 2.644 11.23 $1.23 $0.84*111 words
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LOCAL STOCK INDICES
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Article72 1977-01-10 1 Jan 3 Jan 4 Jan 5 Jan 6 Jan 7 B.T Index: 274.14 277.21 275.24 276.53 277.61 •Industrials: 256.24 257.67 257.58 258.73 259.83 ©Finance: 450.33 453 93 452.40 453.21 455.19 "Hotels: 157.32 158.14 158.14 158.07 158.53 •Properties: 150.79 152.42 151.72 152.11 153.59 Tins: 96.06 96.06 96.06 95.95 95.95 +S72 words
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Article74 1977-01-10 1 Jan 3 203 93 Jan 4 Jan 5 Jan 6 Jan 7 +B.T. Index: 206.90 204.92 207.59 209.43 •Industrials: 281.53 283.24 283.24 283.91 285.36 ©Finance: 390 70 393.52 390.80 392.21 393.22 ••Hotels: 171.54 171.54 171.54 171.54 171.54 •Properties: 147.46 148.88 148.26 148.88 150.70 ♦Tins: 96.52 95.86 96.00 96.63 9#.7074 words
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1220 1977-01-10 1 SUMMIT DECISION REFLECTS HIS URGENCY MR. JIMMY Carter, U8 President-elect, announced at the weekend that he will attend an economic summit meeting of the world's leading industrialised nations In the second quarter of this year. To prepare for the summit, Mr. Carter will send his1,220 words
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535 1977-01-10 1 IT is reliably learned that Morgan Grenfell Asia has been appointed by the Securities Industry Council (SIC) to look Into the affairs of Far Eastern Hotels Development (FEH) on behalf of minority shareholders. Contacted on Saturday, Mr. Peter Philips, managing director of Morgan Grenfell535 words
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151 1977-01-10 1 UPI BANGKOK, Sun. Former ill Pnpu Chmrusathien, with threats of government lawauits against him dismiaaed due to "lack of evidence," settled down in Bangkok today to the life of "juat another citizen." Mr. Prapas, who had been Deputy Prime Minister until bloody riots forced himUPI - 151 words
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316 1977-01-10 1 Reuter NICOSIA, Sun. The Saudi Arabian Government has laid down rules and procedures described as "unprecedented" to ensure that its crude oil will be sold only at the increased prices It has specified. In a statement to the Middle East Economic Survey SubllshedReuter - 316 words
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344 1977-01-10 1 Reuter LONDON, Sun. The International Tin Council (ITC) has set up a working party of heads of delegations of member countries to consider the position caused by the refusal of Bolivia to ratify the Fifth International Tin Agreement (ITA) which came Into forceReuter - 344 words
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363 1977-01-10 1 A 27 per cent growth rate in the pace of Singapore exKrts has caused a $386 mlln drop In the trade gap, reversing the trend which has seen a steadily Increasing trade deficit for several years. For the first eleven months of363 words
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Article81 1977-01-10 1 Reuter MANILA, Sun. Indonesia and the Philippines have signed an air agreement under which both countries are to operate regular air services between Manila and Jakarta starting next March, Philippine sources said today. The Agreement was signed yesterday by PhUlp- pine Civil Aeronautics Administrator Jesus Slngson andReuter - 81 words
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215 1977-01-10 1 UPI TOKYO, Sun. A giant Japanese business delegation led by Mr. Shigeo Nagano, head of the Japanese Chamber of Commerce and Industry (JCCI), will visit six Arab oil-producing countries for two weeks beginning Feb 2, it was announced this weekend. JCCI officials saidUPI - 215 words
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Page 1 Advertisements
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Advertisement46 1977-01-10 1 v* f °<v Wayfoong Mortgage you neeu and Finance (Singapore) Limited it fflOSt Sha* House. Ground Floor. 354 Orchard Road, Singapore 9. Tel: *****7. See Back Page, INSIDE Reviews /Crossword/TV Radio Reviews Features International Co news/Overseas News Local Co. Overseas stocks Commodities Sports Local Overseas news46 words
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Advertisement116 1977-01-10 1 International trade? ACBC makes it easier. ACBC provides all the services required for successful trading on the international scene. From opening letters of credit, to export financing, to foreign exchange. Making it easier with a simple direct service. Not only to take care of the routine but indispensable day-to-day banking116 words
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Advertisement66 1977-01-10 1 Da pjco •£>«"«♦ It •Wt* TanitalC I take the lighter side of living very seriously y v H. <8 9 9 Blow Hot Blow Cold Nothing can quench my fire! TAGS OTA ..thelClighter that glows all the way. Free Life-Time Service Soto Agtnls tor Singapore MtHyna Indonttia and Brunei W66 words
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Article695 1977-01-10 2 PRESIDENT Suharto has presented a balanced, cautious draft budget to Parliament. Set at about a modest 20 per cent over last year's figures, the 4,200 billion ruplahs (Ss2s million) package has three basic alms increased financial stability, steady economic growth and the bringing of greater social justice to695 words
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REVIEWS
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Article, Illustration987 1977-01-10 2 t MUSIC By CKT IT Is no good rousing the gramophone from Its uncranked state this week. I will not face the music, I am on leave. But you must know that when a writer of things musical goes on leave, the first partBy CKT - 987 words
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1138 1977-01-10 2 From Alden Whitman in Washington BOOKS NYT Democratic Promise: The Populist Movement in America. By Lawrence Goodwyn. 718 pages. Illustrated. Oxford University Press. USI 1996. AMERICAN popullshrh&s had the misfortune to have become so diluted as a concept over the years thatNYT - 1,138 words
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Article, Illustration961 1977-01-10 3 For the art investor, the interesting question at the moment is: What items have appreciated most rapidly in value during 1976 and what are the good bets for 1977. Anthony Thorncroft reports... (art") Financial Times LIKE It or not, works of art are now usually boughtFinancial Times - 961 words
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835 1977-01-10 3 GREGORY JENSEN - By GREGORY JENSEN UPI EVEN though he Is one of the world's top thriller, writers, John Macdonald sometimes finds It helpful to remind people that not all of his books feature Travis McGee. "The latest one Is called condominium," he saidUPI - 835 words
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Article, Illustration1115 1977-01-10 3 A.R. PETRIE - By A.R. PETRIE Mr. Petrie is manager (Singapore) of the Hongkong and Shanghai Banking Corporation. (The days are not necessarily from the same week) MONDAY: I got up this morning feeling overweight an Impression quickly confirmed by the weighing machine. I supEose this can't really be elped1,115 words
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Page 2 Advertisements
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Advertisement200 1977-01-10 2 IBJ The Bank for All Reasons Long-Term Financing. IBJ is Japan's oldest and largest long-term credit bank. We are the leading bank in arranging yen- denominated bond flotations by both foreign and domestic issuers. Main Bank to Japan's Key Industries. IBJ is main bank to more of Japan's industrial leaders200 words
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Page 2 Miscellaneous
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Miscellaneous292 1977-01-10 2 WEATHER report for 24 hours prior to 7.30 p.m. on Jan 9 at Singapore airport. Maximum Temperature 28.2° C Associated Humidity 75 Minimum Temperature 23.0° C Associated Humidity 97 Hours of Sunshine 2.80 Rainfall in Millimeters 10.9 Total Rainfall for the Month 58.4 Total Rainy Days for the Month 7292 words
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Miscellaneous458 1977-01-10 2 TWO-IN-ONE-CROSSWORD CRYPTIC PUZZLE ACROSS 1 Latvian half-mile race (4) 4 Don't agree to a thing (6) 8 An eye-opener? (3) 10 A measure given the bird by Stephen (4) 13 Vessel taking over the means of transport (3, 5) 14 General built like a tank? (7) 15 Change sides out458 words
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Page 3 Advertisements
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Advertisement247 1977-01-10 3 EXECUTIVE DIRECTOR (ENGINEERING) 5560,000 to $$80,000 per annum plus car An established engineering company that supplies and services electrical and mechanical engineering products is looking for an Executive Director to head its operations Shareholders are keen to expand the company through the acquisition of new agency lines and the development247 words
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Advertisement187 1977-01-10 3 One source of expertise and one source of service... for the building construction and engineering industries of Singapore. t Co-ordination is extremely important in the the experience, expertise and resources to help planning and construction of any modern building you on your next project no matter what the size! it187 words
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Article, Illustration970 1977-01-10 4 DAVID LASCELLES - The Soviet Union is annoyed that the price of oil is not to rise more than 10 per cent. The Soviets were counting on the extra money to pay off debts to the West. And for the rest of East Europe, even more bad oil newsFinancial Times - 970 words
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1588 1977-01-10 4 JOHN TAN - By JOHN TAN PRODUCTIVITY Incentive schemes in Singapore are well behind those of many industrialised countries and certainly a long way from being satisfactory. At a time when many industries are moving into uncertainty and competition, workers are still drawing salaries1,588 words
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751 1977-01-10 4 EDWIN DALE Jr - DRAMATIC CHANGES STIRRING UP THE OLD ISSUES AGAIN By EDWIN DALE Jr NYT ONE day It Is American turkey exporters complaining about unjust Import barriers in the European Common Market. The next day may bring shoe or television makers petitioning for relief from ImportNYT - 751 words
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Page 4 Advertisements
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Advertisement211 1977-01-10 4 TIMES PUBLISHING BERHAD (Incorporated in Singapore) Final Report For the year ended 31st August 1976 the Directors report: Group S$ Company S$ •Profit before taxation Investment income Net profit after taxation *After transferring to newsprint price equalization reserve and deducting depreciation of fixed assets 15,517,000 3,210,000 8,439,000 10,288,000 831,000 2,547,000211 words
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Advertisement192 1977-01-10 4 [SIM i THE STRAITS TIMES PRESS (1975) LIMITED (Incorporated In Singapore) Final Report For the year ended 31st August 1976 the Directors report: Trading profit before taxation Investment income Taxation Net profit after taxation •After deducting amount written off intangible asset and crediting provision no longer required S$ 2,449,000 67,000192 words
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Page 4 Miscellaneous
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Miscellaneous37 1977-01-10 4 spttNts ffcestgve. us 7 71 W, B(?iSTouJ gong to UKfe /Tua^tT I HC'S M(5 yms o <y-s r BliStd^:Rankßicl<En£ QCvSTOU UiUPiT Ptf£. NOO DOING W>I"H BNVTHING, NOO CPiN'T V-VP*NDL£. U>H«T WOULD > fOU DO THl<s o^£? ffeHDw*G ICPiT)37 words
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Miscellaneous157 1977-01-10 4 CROSSWORD SOLUTIONS ACR&£ Y z !4,a 4 2e o, |au,;r?^™t Close?BlPin 10 User 13 20 Ice 23 L,ver 24 EOT* I Converts! 14. Retired. 15! §L 8 '30 f Tide 3?' i. (Hope)less. Knocks. 17, Resenting, 21, ®P®. vf™" 30, Tiae Jl, 2, Tree. 3, Mica. 5, Buffet. 6, Dun.157 words
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INTERNATIONAL COMPANY NEWS
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Article100 1977-01-10 5 Reuter MINNEAPOLIS, Mln Sun. Honeywell said negotiations for sale of its US photographic products business to Pentax, a wholly-owned unit of Asahi Optical, have been terminated. The companies were unsuccessful in finding a way to transfer the US operations of Honeywell's photographic products division toReuter - 100 words
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Article64 1977-01-10 5 TOKYO, Sun. The Caltex group has told Nippon Oil that It will apply a two-tier oil price system to Its crude oil shipments to Japan retroactive from Jan 1, Nippon Oil said. Nippon OH said the prices for oil supplied from Saudi Arabia will be raised five64 words
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Article86 1977-01-10 5 UPI TOKYO, Sun. Mitsubishi Motors Corp, partially owned by Chrysler Corp of the United States, sala its stocks would be listed on the Tokyo Stock Exchange in a few years. Mitsubishi Is the only one of Japan's 11 automobile manufacturers not listed on the market. The company's affiliationUPI - 86 words
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Article542 1977-01-10 5 Reuter MILAN, Stin. Pirelli chairman Leopoldo Pirelli announced a rlve-for-eight rights issue at par value of 1,000 lire. He told a press conference the share Issue Is Intended to Improve the financial structure of Industrie Pirelli, the company's main industrial subsidiary. Pirelli's capital at present standsReuter - 542 words
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Article180 1977-01-10 5 Reuter HONGKONG, Sun. Sun Hung Kal Properties will offer HK$l.6O a share for the 49.01 million $1 nominal shares of Luen Hlng Shing Development (LHS), the two companies said. They said in a statement LHS directors intend to urge shareholders acceptance of theReuter - 180 words
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Article167 1977-01-10 5 Reuter TOKYO, Sun. Toyota Motor said it plans to boost Its Imports of alumina to be used for catalyst converters from Rohone-Poulenc of France. The company said It has been buying the metal from the French firm and Universal Oil Products (OUP) of the USReuter - 167 words
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Article63 1977-01-10 5 BRUSSELS. Sun. The Belgian Treasury will seek 40 to 50 billion francs with the Issue of a 10 per cent, eight-year loan on the domestic market, government sources said. Issue price for the loan Is expected to be fixed next week. The previous state loan, for 8V» years, was63 words
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Article109 1977-01-10 5 Reuter LONDON, Sun. Western Selcast and MIM Holdings said diamond drill hole average assays In the teutonic bore prospect In Western Australia had revealed copper values of up to 6.7 per cent over a core length of 23.6 metres and up to 25.4 per cent zincReuter - 109 words
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145 1977-01-10 5 LONDON, Sun. For the half year ended Aug 31, 1976, profit of Northern Ooldsmlths amounted to £77,000. This Is the first time Interim figures have been &übllshed and chairman Ir. R.Q. Cooke says these demonstrate clearly the seasonal nature of the Jewellery trade, as for145 words
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Article797 1977-01-10 5 CORPORATE BRIBERIES NYT WASHINGTON, Bun. In August 1974, United Brands was In a dilemma. Three Central American countries had imposed hefty export taxes on taxes Uiat would fall far more heavily on United Brands than on Its two main competitors, the Del Monte Corp, andNYT - 797 words
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Article109 1977-01-10 5 FRANKFURT, Sun. Dresdner Bank has no current plans to raise Its 790 million mark share capital, a bank spokesman said. He was commenting after the bank's share fell 1.50 marks to 227 marks on bourse rumours on the possibility of such a move. Last May, shareholders agreed to109 words
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Article89 1977-01-10 5 Reuter NEW YORK, Sun. RCA Corp said It Is requesting consent of the Securities and Exchange Commission to withdraw a proposed public offering t>f five million common shares. RCA said It decided to withdraw the Issue because of its steadily improving operating results, its increased cash flowReuter - 89 words
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Article108 1977-01-10 5 Reuter LONDON, Sun. Hundreds of people camped out at Heathrow Airport this weekend as British Airways baggage loaders continued their strike which has stopped all the airline's international flights out of Loridon. An airport spokesman said the strike, which began on Friday, was expected toReuter - 108 words
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Article36 1977-01-10 5 UPI OTTAWA, Sun. If Quebec separates from the rest of Canada, the whole country will inevitably become part of the United States, Industry Trade and Commerce Minister Jean Chretien said yesterday. UPI.UPI - 36 words
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298 1977-01-10 5 NYT NEW YORK, Sun. Columbia Broadcasting System (CBS) has announced the company's acquisition of Fawcett Publications, one of the last family-run publishing giants, for US$5O million (*****.5 million) In cash. A CBS spokesman called the sale the largest cash transaction In publishing history. TheNYT - 298 words
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Article37 1977-01-10 5 Reuter TEL AVIV, Sun. The Israel Institute for Strategic Studies will open next autumn with former Foreign Minister Abba Eban as board chairman and former Information Minister Aharon Yarlv as director, it was announced today.Reuter - 37 words
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OVERSEAS
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740 1977-01-10 5 NOVEL SOLUTION EXPECTED UPI WASHINOTON: Central bankers of the United States and the other leading Industrial countries are expected to reach agreement today in Basle, Switzerland, on a novel solution to the long-standing problem of Britain's sterling balances, according to American and British sources. The problem,UPI - 740 words
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144 1977-01-10 5 UPI CAIRO, Sun. French Defence Minister Yvon Bourges said yesterday France will "participate directly'' with an Arab consortium In setting up an arms industry In Egypt, and implementation of the project is about to begin. In a statement to the Middle East NewsUPI - 144 words
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Article186 1977-01-10 5 Reuter TOKYO, Sun. More than 50 businessmen, politician;; and scholars of a private commission from the United States, Canada, Japan and Western Europe held a closed meeting here today to discuss International problems. The Commission, which was founded in 1973, includes among its members USReuter - 186 words
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156 1977-01-10 5 AP GENEVA, Sun. Europe's largest atom-smasher, which took five years and 1.1 billion francs (SSI.IOO million) to build, began operating over the weekend at the European Nuclear Research centre. The circular super-proton synchronton is to be used exclusively for fundamental research in highAP - 156 words
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166 1977-01-10 5 Reuter BEIRUT, Sun. The Government of President Sarkis Issued a decree this weekend establishing a national organisation to underwrite investments In Lebanon, shattered by 19 months of war. A Cabinet spokesman, Mr Omar Musselkeh, announced after a four-hour Cabinet meeting that the new organisationReuter - 166 words
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Page 5 Advertisements
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Advertisement153 1977-01-10 5 V w. 12 StHv EO^k R £>? BO« < N >> I) »v V s*^ Chivas Regal Scotland's prince of whiskies It's waited 12 years for you. Another fine product brought to you by food beverage IHI CpcrvateJ ltd. 875 Bl Kll lIMAH KOAII km SINGAPORE 111 EEL t*H!) PO153 words
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COMPANY NEWS
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Article623 1977-01-10 6 A RECENT revaluation of South Johore Amalgamated Holdings' group properties, apparently enhanced by the acquisition of Johor Motor Bus in March 1976. has thrown up a surplus of Msl.7 million. Disclosing this in a reply to the Kuala Lumpur Stock Exchange. SJA says the group's properties623 words
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173 1977-01-10 6 BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 4, 1971 100) IS7S/77 Week's ndiac HIGH LOW INDUSTRIAL GROUP Jl/12/7* 7/1 POINT CHANGE 210 59 145 90 AUTOMOTIVE 189 96 198 44 *8 48 496 57 366 79 BANKS, INSURANCE. 420 41 428 38 ♦7.97 FINANCE AND TRUSTEES 164 62 135173 words
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Article76 1977-01-10 6 Kilogram Austral Enterprises 35.380 Benta. Plantations 203.000 Casllefield Z78.506 Consolidated Plantations 2.744.000 Glengowrle 58.96$ Golden Hope .3 304,31B Guthrie Ropel 732,000 Holy rood 102.960 Hongkong (Selungor) 34,473 Inch Kenneth Kajang... 135.193 Kempas(M) 696,000 KllUngball (Rubber). 34.020 Kin la KMIas w.m Kuala Selangor 82,101 Kundong Tunjotig76 words
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Article261 1977-01-10 6 PRE-TAX profit at Chin Teck Plantations declined by 20.5 per cent to M 52.85 million for the year ended Aug 31, 1976. Year ended Au« 'II 197K IS7S M**wm Paid-up capital 8,250 8.230 Capital reserve 102 102 General reserve 5.950 5.350 Accumulated profit 1.031 845261 words
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Article33 1977-01-10 6 STAMFORD. Conn., Sun. Pltney-Bowes said It completed the previouslyannounced sale of Its Malco Plastics subsidiary to EMl's EMI Technology unit for undisclosed terms. Malco Plastics makes plastic credit and indentlflcation card systems.33 words
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COMPANY MEETINGS
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23 1977-01-10 6 THE following meetings are due: Jan 18, 11.30, a.m., 4th Floor Bangunan MIDF 117, Jalan Ampang, Kuala Lumpur.23 words
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Article14 1977-01-10 6 Jan 21, 12 noon, at Raffles Hotel, Beach Road, Singapore 7.14 words
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Article14 1977-01-10 6 Cycle Carriage Ltd. Jan 22, 12 noon. Mandarin Hotel. 333 Orchard Road. Singapore 914 words
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Article34 1977-01-10 6 Jan 29, at the Board Room, 3rd Floor, Bangunan UMBC, Jalan Sulaiman. Kuala Lumpur. COPRA AND COCOA NOVEMBER 1976 Copra Cocoa Tons Tons Golden Hope 359.38 279.46 Pataling 3.8834 words
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Article55 1977-01-10 6 Reuter LONDON, Sun. Guthrie Corp said It submitted to the Malaysian authorities a proposal to reconstruct Its Malaysian plantation interest. Interests owned by Guthrie Ropel are not Involved In the reorganisation. These interests will initially continue to be wholly-owned by Guthrie Corp. The company will make a furtherReuter - 55 words
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Article315 1977-01-10 6 Current E« Date Total for Total for payment Date payable the year previous year Bousteadco 2.5%+ Dec 28 Jan 10 2.5%+ 5% S.M. Ind 5%TF+ Dec 20 Jan 10 5%TF+ 8%TFa Lower Perak Tin 15%+ Dec 15 Jan 12 15%+ 30% Sovran 6% Deo. 16 Jan 12 6%315 words
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Article2300 1977-01-10 6 SECTION ONE INDUSTRIALS 1*71/77 High Low Company Last Sale Week +orGr'i Div Div Crr Gr'. Y'M Net P/E Week Vol Week (000) High Low 175' 206 100 237 186 402 204 248 460 J37 133 172 60 185 66 254 149 172 394 39 Acma2,300 words
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Page 6 Advertisements
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Advertisement141 1977-01-10 6 found only in the Penguins in Business and Management Understanding Company Financial Statements: J. Parker Organization Theory D. Pugh Business Strategy H. Ansoff Corporate Strategy: H. Ansoff Exploration in Management: W. Brown Modern Management Methods: E. Dale Offensive Marketing: J. Davidson Business of Management: R. Falk Modern Business Enterprise: M.141 words
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WALL STREET AND OTHER OVERSEAS MARKETS
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Article1099 1977-01-10 7 NEW YORK: Stocks moved along a firmer path, recouping some early losses last Friday. Part of the market's initial sloppiness was attributed more to the weather than to anv special news factors. A snowfall in the metropolitan area delayed the arrival of many investors and kept stock exchange1,099 words
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Article318 1977-01-10 7 AMSTERDAM: The market firmed in line with Wall Street in quiet trading last Friday. Dutch internationals rose with the exception of Hoogovens which fell 0.50 guilders. Elsewhere transports were mostly lower although Ommeren rose one guilder. Other sectors firmed following the cut in Dutch bank rate although there were318 words
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Article278 1977-01-10 7 ZURICH: The market last Friday generally closed very steady in fairly active dealings, with sentiment bolstered by the Wall Street recovery and continued downward interest trend on the domestic money market, dealers said. Swissair registered was markedly higher in transports In narrowly mixed leading banks gains predominated. Financials generally278 words
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Article297 1977-01-10 7 TORONTO: Falling share prices in the last hour of trading depressed the metal, oil and paper indices last Friday. The composite index dropped slightly to close up 1.6 at 997 4 in light trading. Magna International gained 1 to 25. Kraaer Co* A advanced 3/4 to 23. Dofasco A297 words
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Article236 1977-01-10 7 FRANKFURT: Shares closed mostly higher last Friday in line with the steadier Wall Street tone and trading was lively, market sources said. Veba gained 3.10 marks Chemicals gained up to 1.50 and steels and electricals up to 2.50. while banks added up to four Public bond prices were up236 words
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Article448 1977-01-10 7 PARIS: The market tended generally easier last Friday, with losses In most sectors, dealers said. One positive (actor was Prime Minister Raymond Barre's firm re-statement of government determination to fight inflation, but was undermined by an opinion poll showing over two thirds of French business leaders see little significant448 words
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Article235 1977-01-10 7 JOHANNESBURG: Gold shares traded quietly steady on balance with little Interest shown last Friday. Activity centred in coppers and other metals, dealers said. Coppers featured, with Palamin gaining 50 cents to 1.050 and Minorco 30 cents to 330 Messina was suspended at 290 after Thursday's close at 270. Other235 words
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Article672 1977-01-10 7 TOKYO: The market closed firm in active trading on Saturday on expectations the fiscal 1977 national budget would stimulate business, placing priority on public works spending, dealers said. The Dow Jones average added 27 2ft to close at 4.987.47. with volume of 260 million shares. The New index closed672 words
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Article1232 1977-01-10 7 On January 7 PRICES on the Chicago Board Options Exchange Einted lower, with losers topping gainers, 295 to 159. it Friday. Volume approximated 78.835 contracts, compared with 93.810 contracts on Thursday. OPTION JAN A PL JLY STOCK Alcoa Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel1,232 words
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Article168 1977-01-10 7 MILAN The market closed irregularly lower in quiet trading last Friday, with caution induced by government/ union failure to reach agreement on reducing labour costs, dealers said. Fiat. Snia Vitcosa, Montedison ind most other leading industrials eased on lack of interest. but both Olivettis firmed ;is did Pirelli*. Insurances168 words
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Article128 1977-01-10 7 IiKUSSKLS: The market last Friday continued Thursday's siron* tone, with almost all local issues moving up. dealers s:i id. Notable rises included lluhokrn. <JB-lnno-RM, FN, (Wkrrill. Most foreign stocks were higher where changed All three Pclrofinas rose. JAN 07 Frs FORWARD MARKET Acec 344 ♦8 3500 150 Astur 1060128 words
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Article63 1977-01-10 7 FINANCIAL TIMKS INDUSTRIALS I- riday 365.3 Thursday 367.8 Wot'k ago 354.7 DOW JONES average INDUSTRIALS Friday 983.13 Thursday 979.89 \W«*k ago 1004.65 LONDON DOLLAR PREMIUM Ftlday 122 to 122'/,% Thursday 122V. to 122%% U.K. HANG SENG Friday 441.34 Thursday .441.58 \Vo«»k ago 447.67 SYDNKY INDUSTRIALS Friday 360 (il I'hursday63 words
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Article254 1977-01-10 7 NYT AFTER closing out 1976 with a burst of strength, prices on both the New York stock market and the bond market promptly sank in the new year. It was a turnabout that caimlit most Wall Street analysis by surprise, particularly in view of the stock market'sNYT - 254 words
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Article345 1977-01-10 7 Reuter FRANKFURT. Sun. The major German banks set a provisional total of around 900 million marks of foreign loan issues for January when they discussed this month's loan calendar, primary bond market sources said. This compares with a one billion mark December total. Because ofReuter - 345 words
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Briefly
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Article88 1977-01-10 7 LONDON. Sun. Royal Bank of Canada is offering an CsBo million two-part Eurobond In mid-January, lead manager Orion Bank said. The bank will offer $40 million of debentures due 1984, and $40 million due 1992. Orion said. Coupon and issue price will be set in line88 words
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Article38 1977-01-10 7 ZURICH. Sun. Swiss nuclear power company Kernkraftwerk Leibstadt will float a 100 million franc, five per cent, 15 year loan at 100.5 per cent from Jan 12 to 18, Schweizerische Kredltanstalt said as Issue consortium leader.38 words
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Article119 1977-01-10 7 LUXEMBOURG. Sun. Cedel and Euroclear Systems said they have jointly agreed on a basis for reporting weekly turnover on a comparable basi? In a joint statement the two clearing organisations said starting this week they will report weekly turnover In Eurobonds, whether straight, convertible, or of New York119 words
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Article61 1977-01-10 7 LONDON. Sun. Statsforetag plans to offer US$4O million of five year notes In the Eurobond market. Credit Suisse White Weld said on behalf of the managing consortium. Final terms are expected to be fixed on Jan 17. In present conditions a 7*4 per cent coupon would be set. Statsforetag61 words
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Article61 1977-01-10 7 FRANKFURT. Sun. The Sanko Steamship 100 million mark Eurobond will have a seven year maturity with a seven per cent coupon, bond market sources said. Pricing Is expected at a small discount from par Signing of the bond, guaranteed by Daiwa Bank, will be on Jan. 18. Lead manager61 words
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Article34 1977-01-10 7 ZURICH. Sun. The Commissariat A L'Energie Atomique forthcoming 80 million franc 15 year loan will bear a coupon of s'? per cent, primary market sources said. Issue price will be fixed next week.34 words
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Page 7 Advertisements
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Advertisement369 1977-01-10 7 on: mxksci •CJ 'JLI j! *i i r i rr f" 11, i!- »s_i iWI in m Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the pasar malam! Because Penguin books are rather special. They are mind-stimulating,369 words
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COMMODITY REPORTS AND PRICES
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Article261 1977-01-10 8 LONDON, Sun. The terminal closed steady on Friday. mostly 1.25 pence (mch 55.55 pence seller) to 2.15 pence per kilo up from Thursday's close. Volume totalled 59 lots of five tonnes and 270 lots of 15 tonnes including the posting of two call options. Dealers attributed the rise261 words
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Article133 1977-01-10 8 THE Straits tin price in Penang on Saturday was up $4.77'/i to $1,340.00 per picul on an official offering down 135 tonnes to 285 tonnes. In LONDON on Friday, Standard and High Grade tin were £5 lower for Cash and £7 up for Three Months. The market held133 words
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Article116 1977-01-10 8 THE following Palm Oil prices were q are df Rotterdam and are quoted In Ui luoted In London on Friday. The prices 3 dollar per ton unless otherwise stated. Friday Pre*. Malaysia S% ffa bulk Mch/Apl Sumatra 5% Dec Jan Feb Mar Aro Afloat Nigerian 5% ffa bulk116 words
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Article272 1977-01-10 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY Coconut Oil Bulk $85 sellers, old drum $90 sellers, new drum $95 sellers. Copra: Mixed (loose) UK/Cont. $51 buyers. Pepper Muntok ASTA white f ob 100% NLW $332W sellers, Sarawak white f ob 96% NLW $317h sellers.272 words
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Article35 1977-01-10 8 LONDON, Sun. Lead was £3 up for Cash and £2 higher for Three Months on Friday. Prices held steady at morning levels In very quiet dealings. Sales of 375 tonnes were about half carries.35 words
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Article34 1977-01-10 8 LONDON, Sun. Zinc finished up for Cash and unchanged for Three £1 months on Friday. The market remained steady at the lower end of the days trading range in sales of 500 tonnes.34 words
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Article432 1977-01-10 8 Source: Swiss Bank Corp, Zurich THE Singapore gold market was inactive on Saturday morning with the loco London price holding at U*****.00/132.50, slightly below London and NY overnight levels. Source: Singmas The Singapore Chinese Gold and Silver Merchants Association on Saturday quoted the retail price of gold at $450Source: Swiss Bank Corp, Zurich - 432 words
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Article103 1977-01-10 8 LONDON, Sun. Silver closed 1.3 pence to 0.3 pence per troy ounce higher on Friday. Values advanced slightly on small scale shortcoverlng prompted by a rallying trend In US futures. Sales were 46 lots. Spot metal was quoted at 257/258 pence and Three Months at 266.50/207.50 pence. In NEW103 words
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Article180 1977-01-10 8 LONDON, Sun. Copper wire bars closed £0.50 per tonne higher for cash and £0.50 lower for Three Months on Friday. Dealers said there were no fresh factors to encourage interest In front of the weekend and prices held steady on light booksquaring orders. Ring sales of 825 tonnes were180 words
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Article247 1977-01-10 8 LONDON, Sun. Terminal sugar was barely steady for much of ttfe afternoon in mixed trading on Friday, and close with losses from Thursday of £0.55 (near Mch at 1144.45 bid) to £1.65 per tonne. But the official tone was steady. Lots traded totalled 1953 including 65 further options calls247 words
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Article322 1977-01-10 8 LONDON, Sun. Robusta futures closed on Friday easy in active trading with the closing call extended by some 17 minutes. By the close most positions were trading around the day's lows with Spot Jan trading back Into the 12,500 area. Values at the close were £138 to £164 down322 words
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Article110 1977-01-10 8 CHICAGO, Sun. Wheat futures finished a thin trade with losses of 2*« to 2 cents a bushel on Friday. Prices moved in a narrow range of either side of the previous close before slipping on late profit-taking. Trends in soybean futures influenced the trade during the session as local110 words
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Article836 1977-01-10 8 COFFEE commanded world attention last week when consumers In America and Canada threatened to boycott the beverage if the current price spiral is not halted. Initiated by the New York Commissioner of Consumer Affairs the week before and subsequently followed by the Canadians, the threat was836 words
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Article150 1977-01-10 8 CHICAGO, Sun. Soybean futures closed one cent a bushel lower to 1% cent higher at the end of the light trade on Friday. The market lacked strong direction through the session and moved upward for small gains after Initial softness. Late profit-taking took prices back down but selling pressure150 words
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Article148 1977-01-10 8 BANGKOK, Sun. Indicative Drices for rice quoted in Bangkok on Saturday were: US dollars per tonne fob basis Bangkok. White Rice: 100 per cent Ist class 290 100 per cent 2nd 275 100 per cent 3rd 270 5 per cent 258 10 per cent 237 15 per cent 234148 words
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MONEY AND EXCHANGES
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Article102 1977-01-10 8 THE US unit opened virtually unchanged at $2.4570/80 last week but interest In the currency was slack when It eased to $2.4555-60. However, the US dollar recovered to gain $2.4578-83 but its upward movement was restrained by a slight ease In shortterm Interest rates. Trading in the US unit102 words
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Article265 1977-01-10 8 Asian rates THE US dollar rates remained fairly steady throughout the week after the Initial easiness seen on Monday and Tuesday last week. The three and six month held steady to close around 5 4 7/8 and 5 5/16 3/16. Money supply Ml 500M M2 600M NYK loans 101M. A8IAN265 words
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Article273 1977-01-10 8 Source: Commercial Discount Co Ltd. THE new year started off with a dramatic swing from an easy money situation to one of shortage with the overnight Interbank rates closing at a high of 15 per cent on Monday. This sudden rise of rates was also reflected In theSource: Commercial Discount Co Ltd. - 273 words
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Article71 1977-01-10 8 Source: Astley and Pearce OVERNIGHT rates were erratic at the beginning of the week with business dealt as high at 14 per cent. It stabilised towards the weekend to average at about the 4*4-4 level though closing rates were slightly easier. Term rates fluctuated about 3/16 in theSource: Astley and Pearce - 71 words
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Article48 1977-01-10 8 FOR the week ended Friday Jan 7, the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND: 3 per cent to 5 per cent. GENERAL FUNDS: 3 per cent to 4% per cent. Movements of funds totalled $539 million.48 words
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Article245 1977-01-10 8 LONDON, Sun. The dollar moved higher on a broad front against continental currencies on Friday afternoon, responding to covering of short dollar positions ahead of the weekend and an unexpected rise in US money supply which may lead to firmer dollar interest rates, dealers said. The guilder and Belgian245 words
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Article383 1977-01-10 8 Source: Swiss Bank Corp. Zurich ZURICH, Sun. Due to the continued fall In US Interest rates the dollar declined considerably against most major currencies In the first half of last week, but was able to recover In the second half. The reversal was brought about by discount rate cutsSource: Swiss Bank Corp. Zurich - 383 words
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Article32 1977-01-10 8 FRANKFURT exchanges closing quoted on Dec. 7. US 2.3610/20 Can 2.+40/50 UK 4.020/035 Neth 95.72/87 Swltz 95.87/96.02 Italy 2.685/700 France 47.50/65 Japan 0.8050/75 Belg Com 6.495/510 Belg fin 6.502/514 Norw 45.39/4432 words
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Article57 1977-01-10 8 Minimum lending rates (in ACBC 6% Algemene Bank Bangkok Bank ..7* Bank of America 6*« Bank of China 7 Bank of Tokyo Bank Negara Indonesia 7 V, Chartered Bank .6*. Chase Manhattan 6*« DBS First Chicago Citibank 6*> HSBC 7 Indosuez 6* Malayan Banking Mitsui Bank 6% OCBC 6* 457 words
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Article220 1977-01-10 8 NEW YORK, Sun. The dollar on Friday rallied strongly in active trading following a sharp fall in the mark, caused mainly by comments on Thursday by the Bundesbank vicepresident that the mark may be overvalued, dealers said. In addition, diminishing fears that Democratic President-elect Jimmy Carter will over-stimulate220 words
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Article75 1977-01-10 8 HONGKONG. Sun. The dollar rose sharply here on Saturday quoted at around HK54.6700/40 towards noon compared with Friday's close of $4.6500/30, dealers said. They said the rise was in line with the dollar's strength In Europe and the US on Friday night, but said there was also some cover-75 words
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Article131 1977-01-10 8 Euro rates LONDON, Sun. Day to day Eurodollar deposits closed on Friday softer against opening levels while periods were little changed, dealers said. Conditions reflected lack of interest coupled with light pre-weekend trading, dealers said, although modest activity mainly on rollover account was noted in three months earlier. Fractional movements131 words
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Page 8 Advertisements
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Advertisement426 1977-01-10 8 LAND N 20,6775q. metres of residential commercial land at Kowloon Bay Hong Kong on 8 Marchl977. By order of The Amoy Canning Corporation (Hong Kong) Limited,a superb residential/commercial development site of 222,560 sq. ft. (20,677 sq. metres) will be offered FOR SALE in Hong Kong by public auction, at 3.00426 words
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Article, Illustration1136 1977-01-10 9 THE SUPER BOWL AN INSTITUTION FOR THREE HOURS PUBLIC LIFE WILL FREEZE NYT THE super bowl is just a football game, nothing more, nothing less. NFL official. JUST a game? Mythically speaking, somethina mysterious and powerful is going on here. Theologian. LOS ANGELES, Sun. After 10 years, America still hasNYT; AP radiopic. - 1,136 words
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Article, Illustration336 1977-01-10 9 Daily Express LONDON, Sun. John Deehan, the promising Alton Villa cub the Holte End fans nickname "Dixie," like most of ai, finds it difficult to please the boss. But as Ron Saunders once banged in 203 League goals, mainly for Pompey, Watford andDaily Express - 336 words
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512 1977-01-10 9 WAYNE Bosley, 16, showed the winning way of his father Bill Bosley, when he was In the front pack in the first round of the SICC gold championship for the Police Cup at the Old Course yesterday. Wayne and M.K.Yeow, both512 words
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Article477 1977-01-10 9 Reuter BRISBANE, Sun. Pakistan hit back hard to finish on level terms with Queensland in the three-day international cricket match at The Gabba here today. Thirty minutes before close on the second day Queensland were a shaky 66 for three after the Pakistan bowlers had racedReuter - 477 words
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Article, Illustration264 1977-01-10 9 Reuter PHOENIX, Arizona, Sun. Jerry Pate blrdied the final hole yesterday to retain the lead after the third round of the SUS2OO.OOO ($490,000) Phoenix Open golf tournament. Pate had a one-under-par 70 at the Phoenix Country Club here for a nine-under-par 204. Dave Stockton turned in the lowestReuter - 264 words
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Article481 1977-01-10 9 LONDON. Sun. English soccer, long hopeful that an injection of cash from the millions bet on football pools would ease its financial troubles, has been wakened rudely from its golden dream by an official recommendation against a levy on pools gambling. An Interim report by the Royal481 words
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Article273 1977-01-10 9 AP MELBOURNE, Sua Power-oerving American Roocoe Tin—r uyi ha ia net sure whether be will try far the grand •lam following hia victory hi the Australian Opaa tennis champienahipa today. But Tanaar aaid Ma champioaehip, clinched with a *-J. (-1. $-3 victory evar Guillermo Vila*AP - 273 words
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823 1977-01-10 9 Reuter LONDON, Sun Part-ti-mers Northwich Victoria carry the non-League banner into the fourth round of the English Football Association (FA) Cup after beating Fourth Division Watford 3-2 at home yesterday. This Cup is renowned for providing a small piece of glory to clubs who otherwiseReuter - 823 words
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Page 9 Advertisements
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Advertisement137 1977-01-10 9 I L II is setting the pace for a new ball game. Proven the longest hitting clubs by top professionals HONMA* cuts down the yardage from tee to green. Precision built to give you that solid feeling and perfect control of your golf shots HONMA* ensures better scoring in your137 words
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343 1977-01-10 10 SWISS stock markets, which provide a refuge for corporate, and occasionally private, Singapore investment funds, should continue an upward trend this year, according to the Union Bank of Switzerland. In its latest annual Swiss Stock Guide the Union Bank, which has a representative343 words
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Article64 1977-01-10 10 THE Standard Chartered Bank has relocated the office of its general manager for Europe, from London to Zurich. A spokesman for the Chartered Bank In Singapore, part of the Standard Chartered Bank group, said the move was intended to provloe the bank's European network with an on-the-spot64 words
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Article, Illustration57 1977-01-10 10 MR. Huang Chen, head of the Chinese liaison mission here, calling on Secretary of State-desig-nate Cyrus Vance, (left), and Secretary of State Henry Kissinger, at the State Department on Saturday. Mr. Vance endorsed the Nixon-Ford policy of normalising relations with China, and said he would probablyAP photo - 57 words
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202 1977-01-10 10 BOGOTA, Sun. Brazil and Colombia, two of the world's biggest coffee producers, have agreed to call for a special session of the International Coffee Council to look Into ways of stabilising world coffee prices, a Colombian Government spokesman said here yesterday. He said202 words
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Article173 1977-01-10 10 KUALA LUMPUR, Sun. Malaysia's trade surplus Increased by more than tenfold for the first nine months last year to M 52,556.2 million, against $222 million for the same period In 1975. Preliminary figures released by the Department of Statistics showed that exports Increased at a173 words
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Article205 1977-01-10 10 Reuter BANGKOK, Sun. Government forces have opened their promised offensive against communist guerillas in southern Thailand, lauching air and artillery strikes against suspected strongholds in the Banthad mountain range, newspapers here reported today. The reports, on which no official confirmation was immediately available, said the bombardment openedReuter - 205 words
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Article474 1977-01-10 10 TIRESOME TIMES ARE OVER KUALA LUMPUR, Sun. The American tyre Industry is entering what will become the biggest production year In Its history, the chairman of Goodyear Tire <i Rubber Company, Mr. Charles Pllllod Jr., said on Friday. He said Goodyear, which shouldered a 4V*-month-long474 words
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486 1977-01-10 10 INTEREST rates In Singapore will probably stay close to current levels for the first half of this yeatt Many bankers predict the uptrend will only begin during the third quarter. But some do not rule out the possibility of rates moving up at486 words
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464 1977-01-10 10 UPI Reuter HONGKONG, Sun. The rehabilitation of Mr. Teng Hslao-plng appeared today to be well underway In China. It no longer was a question of whether Teng would be returned to power, according to diplomatic analysts In Peking, but merely a question of when.UPI; Reuter - 464 words
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462 1977-01-10 10 KUALA LUMPUR, Sun. The States of Malaya Chamber of Mines Is seeking a meeting with the Cabinet committee on private Investment on ways to improve the tin Industry. The Chamber has written to the chairman of the committee, Dr. Mahatlr Mohamed, who462 words
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Article287 1977-01-10 10 FULL year results of both Times Publishing and Straits Times Press (1975) have turned out to be better than the forecast made by the two companies in their respective interim reports. This has been due to a better-than-expected second half, with profits ahead of287 words
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101 1977-01-10 10 SINGAPORE'S building contractors may be licensed soon. No firm decision has been made yet, but a licensing scheme is under active consideration by the Government. In May last year, an indication that this would occur was given by Dr. Tan Eng Liang. Senior Minister of101 words
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Article581 1977-01-10 10 ARRIVALS Service Operator Number Local Time From CPA CX003 MAS MH682 JAL JL712 SJA SQ211 OIA QA980 CPA CX710 THAI TG423 OIA GA908 PAL PR501 SAS SK097 KLM KL811 RBA BI325 SIA SQ201 SIA SQ240 OIA OA893 MAS MH684 GIA OA944 OIA OA982 UB UB231 MAS MH651581 words
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Article136 1977-01-10 10 PEARL and Dean In South-east Asia, a subsidiary of Lion International Far East, has won a contract to handle the outdoor advertising for Hongkong's Mass Transit Railway system (MRT), based on the outdoor advertising work It has done In Singapore. The contract Is136 words
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Article77 1977-01-10 10 AP CAIRO, Sun. Egypt earned U*****.8 million (SsBs2 million) from tourism in 1976. about 79.6 per cent more than the previous year, and the number of tourists during the period increased by 29.7 per cent, the Government reported on Friday. About 751,480 tourists visited In 1976.AP - 77 words
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Article103 1977-01-10 10 SEVERAL senior executives from about half a dozen United States manufacturers of electric power systems are to visit Singapore for a week from Feb 7 to examine the possibility of establishing regional outlets here for their products. This visit has been planned to coincide103 words
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Page 10 Advertisements
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Advertisement68 1977-01-10 10 a 'tfV\ 1 IM'L f I <? G 7iA J savours of Olde England Lunch or dine in a grill room that savours of Olde England with food just as savoury. An ideal place to combine business with pleasure cosy and private. English-manner service too. Ask for the Executive Lunch68 words
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Advertisement77 1977-01-10 10 '■>*> V eryone is at ..your ringer SUPERVISOR MANAGING DIRECTOR W' *tV L FF 6t S *S /P' o Al PHONE O<L NJ Q c_ r .>■.- WITH AIPHONE The internal intercom for instant communications. No matter how large your organisation, you can locate him within seconds with the help77 words
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