The Business Times, 11 January 1977

Total Pages: 12
1 12 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) 300/1/77 TUESDAY, JANUARY 11, 1977 50 CENTS
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  • NEWS IN BRIEF
    • 34 1 A GOVERNMENT press statement released yesterday said that the Prime Minister's unofficial visit to the Philippines originally scheduled to take place from Jan 14-18 has now been postponed to Jan 16-20.
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    • 55 1 UPI GENEVA, Mon. A five-week conference on direct satellite broadcasting started today at the International Telecommunications Union Headquarters with 630 delegates from 104 countries. The conference, said by ITU to be one of Its most Important ever held, will try to work out a plan for direct satellite
      UPI  -  55 words
    • 63 1 KUALA LUMPUR, Mon. The Trade and Industry Ministry has Introduced contingency measures to deal with the shortage of kerosene in certain parts of the country. Disclosing this today, Trade and Industry Minister Datuk Hamzah bin Abu Samah said one of the measures was to ensure that the oil
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    • 58 1 PADANG RENGAS, Mon. The Malayan Railway will Introduce a special chartered service of alr-condltloned coaches to take tourists to various parts of the country and to Bangkok and Singapore. Its general manager, Dato Ishak bin Tadin, said yesterday that the service, which will be launched shortly, is
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    • 61 1 Reuter TOKYO, Mon. A 14-member Japanese mission left for Thailand today to survey the possibility of developing Pattaya, a beach resort south of Bangkok, Into a major tourist area. The Foreign Ministry said that If the survey was favourable, the World Bank might give a US$3O million (5573.8
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    • 45 1 Reuter NEW DELHI, Mon. The sixth World Conference on Earthquake Engineering opened here today. About 600 delegates from 35 countries will discuss, over the next five days, the best ways of minimising earthquake damages and review the latest methods of predicting earth tremors.
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    • 57 1 Reuter LONDON, Mon. Truck and bus production at 16 British Leyland factories throughout Britain came to a virtual standstill today when 18,500 workers took part in a 24-hour strike. A company spokesman said the strike was over negotiations for a sick pay scheme. It would be followed
      Reuter  -  57 words
    • 44 1 UPI NEW YORK, Mon. Dow Jones averages, based on the first hour of trading today on the New York Stock Exchange: 30 lndust 985.87, up 2.74; 20 transp 235.91, down 0.22; 15 utils 107.84, up 0.03; 65 stocks 321.29, up 0.46. UPI
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  • Chief Price Changes
    • 192 1 THE Stock Exchange of Singapore was hit by profittaking yesterday afternoon, and most prices ended off best. However, gains still outnumbered losses by three to two. The Business Times index rose 2.50 points to 280.11 while the Straits Times Industrial index was fractionally higher at 260.29 on
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    • 106 1 Rites Most active D. Keramat $5.60 U M Flour $1.90 Lien Hoe $2.04 Boustead $3.70 P. Carbide $0.66 Shell ord $3.56 SelC'nuts $1.47 Dunloplnd. $3.16 Kempas $2.62 KhongGuan $1.75 Falls M. Flour $2.78 F.andN. $4.12 U.M Works $1.55 Petaling Rub. $2.38 .35 +.10 .09 .08 08 .08
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  • 271 1 IN a surprise management reshuffle, Guthrie Berhad yesterday announced the resignation of Its managing director, Mr. R.W. England, with immediate effect. A more surprising development Is the reappointment to the board of Mr. R.F. Jenkins, the former managing director who retired In 1974 to make
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  • 26 1 Reuter BONN. Mon. West Germany will stick to its tightmoney policy, despite pressure at home and abroad to reflate. Government sources said here today.
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  • 788 1  -  PREPARING FOR 'OPTIONS DAY' ■y ANTHONY ROWLEY THE stock exchange has embarked on a crash programme of staff training as one of Its preparations for the launching of Singapore's pilot scheme In trading stock options on Feb 1, Just three weeks away. At this stage
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  • 899 1 FEH True worth to be revealed soon SHAREHOLDERS of Far Eastern Hotels Development Ltd (FEH) will probably know the true worth of their shareholdings In the company by the end of this month. Last Saturday, Mr. P.G. Grundy, the receiver apgolnted by the Overseahlnese Banking Corporation under the powers granted
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  • 488 1 THE ASIAN dollar market Is entering a new stage In its rapid growth, with the Government pushing through the development of negotiable* certificates of deposit in Asian dollars. A report on the development of NCD's In Asian dollars has been submitted to the Monetary
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  • 77 1 KUALA LUMPUR, Mon. A Mara subsidiary, Mara EkspresrWlll be going public in August, Public Enterprises Minister Datuk Hajl Mohammad Yaacob said today. He said priority for the purchase of the shares, 40 per cent of the company 's equity, would be given to the Bumlputra
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  • 228 1 LONDON, Mon. "The attitude of the press"' in its early reporting of the Jim Slater case was described by Mr. Slater as "rather dreadful" in a letter which he wrote to the inspectors appointed under the Singapore Companies Act, who sought his presence in
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  • 67 1 Reuter LONDON, Mon. British Airways intercontinental flights from London's Heathrow Airport returned to normal today, after a weekend strike by 800 baggage handlers caused havoc for thousands of travellers around the world. An airline spokesman said the men began working after attending an early morning meeting
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  • 168 1 Reuter VIENNA, Mon. The Organisation of Petroleum Exporting Countries (Opec) today announced interestfree loans to help 24 developing nations overcome balance of payments problems. Opec's special fund, using oil revenues to aid Third World economic development, said loan agreements were being signed in Vienna today and tomorrow
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  • 136 1 UPI BRUSSELS, Mon. The US dollar opened higher on all continental European markets today and dealers said new confidence In the currency was due to Pre-sident-elect Jimmy Carter's plans for the US economy. Gold opened 50 cents higher in Zurich at U*****,625 and 37.5
    UPI  -  136 words
  • 105 1 AP LONDON, Mon. More than 50,000 passengers have flown in the Anglo-French supersonic airliner Concorde since it went into commercial service nearly a year ago, the British Aircraft Corporation announced today. British Airways, Britain's flag carrier, filled 94 per cent of the available seats in
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  • 112 1 Reuter HONG KONG, Mon. Chinese foreign aid officials have pledged to do a better Job in providing economic and technical aid to other countries in memory of late Premier Chou En-Lai, the New China News Agency reported today. The agency was quoting from an article
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  • Page 1 Advertisements
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  • 442 2 Reuter AMMAN, Mon. Arab Foreign Ministers held talks In the Saudi Arabian capital of Riyadh today, to discuss future financial aid to the "confrontation states" bordering Israel as well as other Middle East problems. The Riyadh meeting, which began yesterday, is being attended
    Reuter  -  442 words
  • 196 2 UPI WASHINGTON, Mon. The 95th Congress opens its first full week of activity today, highlighted by confirmation hearings for President-elect Jimmy Carter's cabinet and President Ford's final State of the Union address. On Wednesday Mr. Ford will go to the Capitol, where he served for
    UPI  -  196 words
  • 174 2 Reuter CARACAS, Mon. Eighteen banks in Europe, North America and Japan have now offered Venezuela a US$l.2 billion (552.95 billion) loan, banking sources said. Venezuela has been seeking loan terms to cover this amount to finance development programmes in its five-year plan. The
    Reuter  -  174 words
  • 84 2 UPI TOKYO, Mon. Japan today opened two new consulates general, one in Iran and one in Indonesia, the Foreign Ministry announced. The new Indonesian consulate is located In the port city of UJung Pandang on the island of Celebes where some 350 Japanese reside, most of them
    UPI  -  84 words
  • 96 2 UPI LONDON, Mon. Royal Navy seamen boarded the Soviet fishery vessel Ivan Fyodorof when it violated the new 321 kms British i fishing limit, a Royal Navy spokesman said yesterday, i The boarding party i moved onto the Russian ship at the invitation of the
    UPI  -  96 words
  • 630 2 Reuter LONDON, Mon. The UK Government plans to Invest at least £10 billion (Ss42 billion) In British coalmining over the next 25 years, to open new fields and revitalise old ones, according to the Financial Times. The plans will be unveiled
    Reuter  -  630 words
  • 339 2 Reuter WASHINGTON, Mon. The US Commerce Department said output gains of 10 per cent or more are likely this year for 91 industries out of the 200 covered by Its "Industrial Outlook," an annual review of US business. The survey said car,
    Reuter  -  339 words
  • 438 2 UPI TOKYO, Mon. For the first time in its 31-year history, North Korea appears to be operating without a long-term economic plan. A six-year plan launched In January, 1971, came to an end on Dec 31, with government claims that all of its goals
    UPI  -  438 words
  • 137 2 Reuter TOKYO, Mon. A Japanese oil company said today it had asked two American research institutes to study the feasibility of starting commercial production by 1980 or 198 i from a natural gas project off Joban in Northern Japan. The firm Teihoku Oil, said it
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  • 103 2 Reuter TAIPEH, Mon. The Taiwan Government Is formulating a long-range energy policy that will place equal importance on seeking new resources and conserving energy consumption, the central news agency reported today. The policy would incorporate measures designed to minimise the impact of price Increases
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  • 137 2 Reuter JAKARTA, Mon. The Indonesian Government will strengthen its national merchant fleet by supplying 47 new and 47 used ships, the director of the state-owned shipping company PT Pann, Mr. Hussein Umar, said. Of the 47 new ships, which were all being built with Norwegian credit, 26
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  • 130 2 AP SEOUL, Mon. Japan s reparations of US$5OO million (551.23 billion) for South Korea during 1966-75 contributed an annual average of 1.4 per cent for growth of South Korea's Gross National Product (GNP) during the 10-year period, a government analysis showed today. The
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  • 887 2 AMERICAN DEFENCE CONTRACTING NYT WASHINGTON: Among the popular impressions that have grown up about the military-Industrial complex Is that defence contractors, aside from charging too much, make inordinately high profits on the weapons they produce for the Pentagon. It is an impression that
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  • 331 2 UPI WASHINGTON, Mon. A senior Ford administration disarmament official warned yesterday that continued Russian deployment of medium bombers and missiles may provoke a "massive new arms race" and undercut US-Soviet strategic arms controls efforts. In a farewell interview, director Fred C. Ikle of
    UPI  -  331 words
  • Page 2 Advertisements
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  • Page 2 Miscellaneous
    • 315 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Jan 10 at Singapore airport. Maximum temperature 30.€° C Associated humidity 63 Minimum temperature 22.3° C Associated humidity 98 Hours of sunshine 11.30 Rainfall in millimetres Nil Total rainfall for the month 58.4 Total rainy days for the
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  • OVERSEAS
    • 176 3 Reuter ROME, Mon. The Italian Government plans to resume contacts soon with the International Monetary Fund to discuss its request for a further US$53O million loan, following the apparent Impasse reached with unions In negotiations to limit wage Inflation, government sources said.
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    • 105 3 Reuter TOKYO, Mon. The Economic Planning Agency (EPA) forecasts Japan's Gross National Product growth rate will rise to 6.7 per cent in real terms in fiscal 1977 starting April 1, from an upward revised 5.7 Br cent hi fiscal 1976, an 'A spokesman said. The 5.7
      Reuter  -  105 words
    • 335 3 WASHINGTON, Monday AP THE Soviet Union, which harvested a record grain crop last year, may be ready to export some of its huge barley stockpile to Easternbloc countries and possibly to Western Europe, a United States Agriculture Department (USDA) analyst said Uxlay.
      AP  -  335 words
    • 350 3 NEW YORK, Mob. NYT CONSUMER confidence, which has been depressed throughout most of 1976, advanced strongly in December, according to the Conference Board. The resurgence In confidence was reflected In the strong retail figures last month as reported by leading chain stores. The consumer confidence
      NYT  -  350 words
    • 255 3 UPI BOSTON, Mon. The Soviet Union has dumped more than US$5OO million (551,200 million) onto the Zurich money market since Dec 20 in speculation •gainst the US dollar, the Boston Herald American reported today. The report from Paris, based on banking sources,
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    • 44 3 Reuter ROME, Mon. The Italian industrial production index (base 1970) was 129.3 In November 1976, 4.3 per cent below October's figure of 135.1, but 16.3 per cent higher than the November 1975 figure of 111.2, provisional Central Statistics Institute figures show. Reuter
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    • 351 3 Reuter LONDON, Mon. A major economic report on Britain today forecast that although sterling might slip a little this year, there would be a big Improvement In the country's economic fortunes by the early 1980's. The Influential Henley Centre for Economic Studies
      Reuter  -  351 words
    • 213 3 Reuter OSLO, Mon. Norwegian Law of the Sea Minister Jens Evensen left for London today for Informal talks with Britain on the Common Market's new 320 km fishing limit. Mr Evensen told a news conference that the discussions with British Government officials did not
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    • 219 3 AP NEW YORK, Mon. The United States balance of trade will improve as the world economy gets better, but nations must work together for the international economic improvement, US Treasury Sec-retary-designate Mr. .Michael Blumenthal said yesterday. During a nationally televised interview, Mr. Blumenthal also
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    • 376 3 TOKYO, Monday UPI TOKYO, Mon. MR DAVID Rockefeller, chairman of Chase Manhatten Bank, said today that It would be "advisable" for Japan to raise the price of Its currency, the yen, If Its present trade surpluses continue. Mr. Rockefeller made the
      UPI  -  376 words
    • 173 3 Reuter TOKYO, Mon. The Japanese Government and the ruling Liberal Democratic Party are considering increasing Import duties on crude oil and heavy fuel oil from April 1, International Trade and Industry Ministry officials said. They said this would be a provisional measure for two
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  • Page 3 Advertisements
    • 291 3 -s i V- v i X r v -V. \fe with a Bedford. Look at some of the toughest, roughest jobs going on around town today and you're bound to see Bedford trucks. In just about the biggest project in the Republic the building of the International Airport at Changi
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  • COMPANY NEWS
    • 814 4 THE future of the car Industry may not be as bleak as what is generally believed, If the forecasts of Its leaders Cycle and Carriage and Wearne Brothers are anything to go by. For within a week after C and C's forecast of Increasing demand
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    • 28 4 UNITED Overseas Land has bought up $6.4 million of its $22 million nine per cent convertible unsecured loan stock 1972/79 for cancellation. according to the company.
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    • 353 4 SUPREME Corporation appears confident that current year profits will be higher than the group pretax figure of Mi 1.91 minion it achieved in the 12 months ended June 30, 1976. This is the indication given In its reply to the Kuala Lumpur Stock Exchange
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    • COMPANY MEETINGS
    • 315 4 Cnrraat Ex Date Total for Total for payment Date payable the year previous year Lower Permk Tin Sovran Boustead N.8.O.P. 15*+ 8% Dec Dec 15 10 Jan Jan 12 12 15*+ 6* 30* 6* 15% Dec 28 Jan 14 15*+ 40* 10%+ Dec 21 Jan 15 10*+ 17.5*
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    • 912 4 FARMING COOPERATIVES MERGER NYT KANSAS CITY, Mon. What are mldwestern farmers doing drilling in the Amazon Basin or the Gulf of Mexico? Looking for oil to run their farm vehicles and huge fertilizer plants, as they have since 1940. The prospectors
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    • 801 4 NYT NEW YORK. Mon. Out on gut row, as it's called In Greenville SC., more than 30 fast-food outlets crowd together in a single stretch of highway not far from the town. "It's a bit mind boggling to see so many fast-food restaurants
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    • 586 4 NYT NEW DELHI. Mon. Prime Minister Indira Gandhi's son Sanjay has gone Into the agency business, with his automobile company acting as the sales agent for foreign corporations that want to do business in India. Among the clients for whom his
      NYT  -  586 words
    • 134 4 Reuter TOKYO. Mon. Teikoku OH said It asked two American research institutes, Core Laboratory Inc and Brown and Root Inc, to conduct feasibility studies on its offshore natural gas exploration project off the Joban district, northern Japan, with the aim of starting commercial production from 1980
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    • 83 4 Reuter TOKYO, Mon. Nissan Motor said it remodelled its small passenger car 'Laurel' with more emphasis on safety, exhaust emission and fuel conservation than its recent model. Monthly production of the new model will be 10,000 units Initially, of which about 1,600 units will be shipped mainly
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    • 78 4 Reuter TOKYO, Mon. Mitsubishi Motors said It plans to sell a total of 700,000 motor vehicles at home and in overseas markets this year, up nine per cent from 1976. Domestic sales will be 410,000 units, up 16 per cent, while exports will rise one per cent to
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    • 30 4 NEW YORK, Mon. International Computers said it formed a wholly-owned American unit, ICL Inc which was created from its recent acquisition of Colgar Corp, formerly a division of Singer.
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    • 116 4 FOLLOWING its merger with Warehousing and Transportation, a whollyowned subsidiary of Straits Steamship, the board of Ben now comorlses: Meaira G.C.K. Choudhury (chairman X, G. Snthianathan (managing director), Yap Fon Fook marketing director). T.C. Wright finance director) and J.G. Gilmour. Mr. M.A. Jameson-Till, general manager of International
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  • INTERNATIONAL COMPANY NEWS
    • 679 5  - IBM and AT T on collision course By WILLIAM D. SMITH NYT THE technologies of computers and communications are moving ever closer together and that could lead inevitably to a head-on collision between two of the world's largest corporations: American Telephone and Telegraph and international Business Machines. It will be
      NYT  -  679 words
    • 671 5 NYT NEW YORK, Mon. Almost all the main Federal regulatory agencies have "refused to take actions" to let stockholders find out who are the real major owners of businesses in the United States, according to the chief aide of a United States Senate watchdog group.
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    • 741 5 NYT WASHINGTON Mon. A lengthy cat-and-mouse game between the country's largest banks and their federal regulators suddenly threatens to become a fierce scrap over the banks' rights to what Is for them relatively new, unguarded territory. At issue Is the largely unpubliclsed but lucrative
      NYT  -  741 words
    • 226 5 LONDON, Mon. Pre-tax Froflt more than doubled rom £921,000 to £2.02 million are reported by John Waddington tor the 28 weeks to Oct 10, 1976. Sales expanded (rom £15.03 million to £18.73 million. Tax takes £1.1 million (£0.56 million) while minorities add £7,000 (same). The Interim
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    • 50 5 HONGKONG, Mon. Rubber Trust has reported a net profit of HK54.39 million for the year ended Sept 30,1976, compared with $3.98 million last time. It has raised the total dividend by six cents to 13 cents, with a final of 10 cents (five cents), payable on March 10.
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    • 560 5 HARMAN INTERNATIONAL INDUSTRIES NYT NEW YORK. Mon. The shares of Harman International Industries have soared since the announcement that president-elect Jimmy Carter nominated that high-fidelity equipment makers president, Dr. Sidney Harman, to be under Secretary of Commerce. Harman shares jumped 4V4 on the New York Stock
      NYT  -  560 words
  • Page 5 Advertisements
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  • 2100 6 SECTION ONE INDUSTRIALS 1*78/77 Hi«k Low Company Last Sale +»> Qr'i <liv Dfcr c'rr Gr'a V Net P/E Vol <*Mt) Day High Low 175* 206 100 237 186 402 204 248 460 137 133 172 60 185 66 254 149 172 394 39 Ac ma Alcom Allied
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  • 1413 6 BID and offer prices officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets In lots of 1000 units unless otherwise specified. All Time Settlement Contracts are quoted, after the word "Sett." Big Board
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  • 1346 6 BID and offer prices officially listed and business in and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown In brackets In lots of 1.000 units unless otherwise specified. INDUSTRIALS Amu (1.448) (3) 1.44. A. Tap* (0.506). AJtn*m*t* (1.988 2.058). Al**m
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  • 131 6 BOTH 1/2% 1981 (1M.000) (103 V «B 104*8) DBSB 1/2% 1082 (100,000) (1008 101S) DBS Converts 6 1/2% 1991 (IM.OM) (97*>B 98*8) E I B 9% 1982 (100,000) (1048 104*8) E I B 8 1/4% 1983 (100,000) (100HB 101*8) i B J8 1/2% 1981 (1M.0M)(103*B 103*S) Keppel
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  • 98 6 5 1/2% 1/12/77 (1,000,000) (101.568 101.MS) 5 1/2% 15/4/78 (1,000.000) (101.658 101.755) 5 1/4% 15/7/78 (1,000,000) (101.368 101.455) 6 1/2% 15/8/78 (1,000,000) (103.308 103.485) 7% 1/7/79 (1,000,000) (104.83B) 5 1/4% 15/10/79 (1,000,000) (100.838 100.955) 6 3/4% 15/6/80 (1,000,000) (102.958 103.055) i 6 3/4% 1/12/80 (1,000,000) (102.958) 5%
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  • Page 6 Advertisements
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  • 663 7 LATE profit-taking pared values at the Stock Exchange of Singapore yesterday when trading was still characterised by intermittent bouts of buying and selling. An initial attempt at rally proved short-lived as profittakers were soon drawn out in numbers. However, the market finished with gains still outnumbering declines
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  • 502 7 TRADING on the Kuala Lumpur stock market yesterday was characterised by Intermittent bouts of buying and profit-taking. As was the case last week, trading was still centred on second and third liners which was clearly reflected in the bigger advances among these stocks. A number
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  • OVERSEAS MARKETS
    • 401 7 HONGKONG: The market closed lower In dull trading on Monday with some short selling and a lack of buying support. dealers said Blue chips were weak with Jardine Matheson falling 20 cents to $18.90, Hongkong Bank 30 cents to $20.20 and Swire Pacific 10 cents to $9.50. Hongkong Land
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    • 529 7 TOKYO: The Dow Jones average rose above the 5,000 mark on Monday. Its highest level in three and a half years, on sustained selective demand centring on low-priced Issues, dealers said. The average rose 21.06 to 5.008.53. with volume of 340 million shares. The New index rose 1.33 points
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    • 419 7 SYDNEY: The market firmed In quiet trading on Mondav. as investors returned to the market,, with the Sydney all-ordinaries share price index rising 3.18 points to 443.7. Minings led the gains. Utah rose five cents to regain the five dollar mark while Queensland Mines gained 10 to $180. Pancontinental
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    • 181 7 MANILA: The market generally eased further on Monday with turnover drying up. dealers said. Mining Issues however, generally held steady despite the metal price retreat. Oils declined with a lukewarm investor reaction to new drilling off Palawan. Losers Included Atlaa Con B. Meralco, Philex B. Phil Ovrraeas, San Miguel
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    • 84 7 JAN 18 Bahts Asia Fibre 107 1 Bangkok Bank 245 unch Bangkok Invest 141 ♦3 Bangkok-Metro-politan Bank Bata MS ♦2 Berll Jucker 100 1 Charoong Thai Wire 1S3 unch Dumex DusltThanl Faber Merlin First Trust Indo-Thai J And J Ho 174 ♦3 Jalaprathan Cement M ♦7 Karnasuta as LeeKwangMIn
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  • 139 7 SINGAPORE UNIT TRUST lMui|m' price* for Ju 11 INCOME BOND UNIT (Correal price*) 1 77 1 87 ramin bond 1 00 1.15 The Saving Fund 0.97 S pore Prog Fund 0.(1 S pore Security Fund 1.31 S'pore Invest Fund ..1.07 ASIA UNIT TRUST (Managers' prices for Ju 11)
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  • 85 7 Reuter TAIPEI, Mon. The Bank of Taiwan will receive a US$l2O million seven year loan from a consortium of one Swiss and four US banks, the Central News Agency reported. Quoting Informed sources, the agency said Interest would be fixed at 0.25 Kr cent above the
    Reuter  -  85 words
  • 727 7 NATIONAL MARKET SYSTEM NYT NEW YORK, Mon. The National Market Advisory Board Is expected to Issue two reports next week that will have a major effect on the future development of a national market system for trading securities. The board, an official Industry-dominated group established under
    NYT  -  727 words
  • 609 7 NYT NEW YORK, Mon. The credit market dropped sharply In price last week and Interest rates climbed In the most dramatic setback for fixed-Income securities since last May. The retreat, contrasting starkly to the strong advance of only one week earlier, put the bond market on
    NYT  -  609 words
  • 332 7 NYT WASHINGTON, Mon. President Ford has tossec another political hot potatc at Jimmy Carter by renewing the nomination ol Patrick J. Delaney for a 4M year term on the Securities and Exchange Commission. Mr. Delaney is a 35-year-old former stockbroker whc has been an associate
    NYT  -  332 words
  • 972 7 NYT NEW YORK, Mon. Suppose you learn that, quite unexpectedly, you have Inherited US$2O,OOO from long-forgotten Aunt Nelly In Des Moines with the stipulation that the money be Invested. This windfall obviously represents a change In your fortunes. It also comes at a
    NYT  -  972 words
  • Page 7 Advertisements
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  • COMMODITY REPORTS AND PRICES
    • 515 8 OPENING quotations in the Singapore rubber market yesterday, were marked up by about two cents, following higher overseas advices and thereafter, the market advanced a further cent on good buying support for nearbys and some forward enquiries, taking February up to a high of 208.50 cents traded. Market
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    • 105 8 DAILY SSR and 8MR prices at noon yesterday Jam. Feb. R.A.S. (Current Mth) (For ward Mth) Buyers Setters Buyer* Seller* (cent* per kg) (ee« it* perks) SSR 20 (1-ton Pallet) 188 00 189 00N 188 00 190.00N SSR 50 (1-ton Pallet) 185 50 1M.50N 180.50 187 50N
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    • 127 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk $85 sellers, old drum $'t0 sellers, new drum 195 sellers. Copra Mixed (loose) UK/Cont $51 buyers. Pepper Muntok ASTA white f.o.b. 100% NLW $332' i sellers. Sarawak white f ob 96% NtW $317 Vi sellers.
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    • 179 8 THE Straits tin price in Penang yesterday was up $2.50 to $1,342.50 on an official offering up 30 tonnes to 315 tonnes. In LONDON yesterday tin advanced by about £55 in the mid-day closing for Cash and £23 for Three Months in both contracts. The movement was touched
      179 words
    • 30 8 Rubber: Jan 10. Singapore: Jan 201.25 cU (up 0.75 cU) Malaysia: Feb 211.50 cU (up 1.50 cU) Tin: $1,342.50 (up $2.50). Official offering: .115 tonnes (up 30 tonne*).
      30 words
    • 167 8 IN the Singapore gold market yesterday, the kilobar was traded In the range of 5510,550 to $10,590. On a loco London basis, the price opened at U*****.00/132.50 and closed at $132.30/132.70 on moderate demand. The London morning fix was U*****.45, down $1.35 on the previous fix. Source: Singmaa. The
      167 words
    • 89 8 LONDON, Mon. Copper wirebars lost fully 14 per tonne for Cash and 13.50 for Three Months. The market softened under light general liquidation prompted by the New York trend and the continued rise in warehouse stocks last week. Last week's stock increase of 7,125 tonnes brought the total to
      89 words
    • 40 8 LONDON, Mon. Silver showed losses of 1.3 to 0.8 pence per troy ounce. Sentiment was dampened by lower gold, dealers said. Moreover, trading interest remained at a low ebb with the turnover of 40 lots resulting mainly from carries.
      40 words
    • 39 8 LONDON, Mon. Lead showed gains of mostly 11.50 per tonne. The market attracted some fresh and chart buy- ing which found sellers reserved, particularly as regards hedge selling, with values moving into new high ground for the movement.
      39 words
    • 29 8 LONDON, Mon. Zinc declined by £1.50 per tonne all round. Value softened under modest hedge selling in the absence of fresh buying interest. Only 425 tonnes changed hands.
      29 words
    • 270 8 LONDON, Mon. Robusta futures declined sharply in active trading, by the end of the opening call which was extended by some 25 minutes due to trading activity. Values were £95 to £118 per tonne down from Friday's close. Volume totalled 986 lots and the official tone was easy. Mch
      270 words
    • 126 8 LONDON, Mon. Terminal opened firm C 0.90 higher to L' 0.50 below Friday's levels but L' 2 up on the kerb close. Sales totalled 661 lots. Market sources had expected an easier opening following Friday's kerb trend, but good trade buying absorbed fairly widespread selling Interest and pushed prices
      126 words
    • 145 8 BANGKOK, Mon. Indicative prices for rice quoted in Bangkok yesterday were: US dollars per tonne fob basis Bangkok. In HONGKONG, the market was easy with prices down 50 cents to $1. The day's turnover totalled 464 tons comprising Thais 196 tons, Kwangtungs 208 tons and Australias 60 tons. Arrivals
      145 words
    • 104 8 FELDA plans to go into cocoa cultivation on a large scale now that Its research pilot project at Tekam, Jerantut, has proved successful. A Felda spokesman said the 1,602 hectares project, started In 1974, had yielded about 50 tonnes by the end of last year. The authority
      104 words
    • 860 8 FT LAST year saw major fluctuations In commodity 6 rices. Fears that Third forld countries might follow Opec's example and attempt to form cartels helped bring a boom in commodity prices at the beginning of the summer coinciding with the UNCTAD
      FT  -  860 words
    • 263 8 Reuter SYDNEY. Mon. Australia shipped three cargoes of raw sugar to China last week from the Queensland port of Mackay. shipping sources in the port told Reuters by telephone. They said the three vessels. carrying a total of 39,000 to 40.000 tonnes, left Mackay between Dec
      Reuter  -  263 words
    • MONEY AND EXCHANGES
      • 48 8 AUSTR ALIA/NZ exchanges quoted on Jan 10 Australia: Sterling 0.6393/0.6322 US dollar 1.0885/1.0837 Ninety-day air mail buying rates: Sterling 0.6698 US dollars 1.1146 Ninety-day forward buying rates: Sterling 0.6518 US dollars 1.0864 New Zealand: Sterling 0.5580/0.5549 US dollar 0.9569/0.9469 Ninety-day forward rate: Sterling 0.5976 US dollar 0.9747
        48 words
      • 32 8 FRANKFURT exchange opening quotes on Jan 10 US 2.3722/37 Can 2.3520/40 UK 4.050/065 Neth 95.67/82 Switz 95.70/85 Italy 2.702/717 France 47.62/77 Norw 45.45/55 Belg com 6.500/515 Belg fin 6.50/52 Japan 0.6110/30
        32 words
      • 314 8 LONDON. Mon. Eurobonds traded mixed in moderate turnover, dealers said. US issues traded easier by around I' 4 to 1/2 point across the board in nervous trading on indications that US short term interest rates may be bottoming out. and small selling predominated. dealers said. Canadians also tended
        314 words
      • 526 8 THE US dollar continued Its strong advance yesterday in ..the Singapore foreign exchange market, following reports of European bank rate cuts and the economic stimulation package planned by US President-elect, Mr. Jimmy Carter. Opening at 552.4585/ 2.4605 against the Singapore dollar. It firmed steadily to $2.4630/ 40 by midmorning
        526 words
      • 156 8 Asian rates ASIAN currency deposit Interbank rates u at close on Jan 10. US Dollar (Spot) Offer Bid 7 days 1 mth 2 mth* 3 mths 6 mths 9 mths 12 mths 4 7* 5 s i/a 53/16 57/16 59/16 53/4 4V4 47/6 5 51/16 55/16 5 7/16 55/B 8w.
        156 words
      • 7 8 ■•TrS Source: National Discount Co
        7 words
      • 56 8 Minimum lending rates (in 1 ACBC 6*. First Chicago 6* Algemene Bank Citibank 8* Bangkok Bank .7* HSBC 7 Bank of America 6* Indosuez Bank of China ..7 Malayan Banking 6* Bank of Tokyo Mitsui Bank 6* Bank Negara OCBC Indonesia 7V. OUB Chartered Bank UCB 1 Chase Manhattan 6*«
        56 words
      • 349 8 LONDON, Mon. The dollar, accompanied by sterling, rose sharply In early trading in the main European currency centres. A positive international market response to Presl-dent-elect Jimmy Carter's planned $30 billion economic stimulant aided the dollar, as the shape of the Carter proposals eased recent apprehension that the US economy
        349 words
      • 199 8 HONGKONG, Mon The US dollar rose sharply in active trading and was quoted in late trading at 2.3712/22 marks against its 2.3652 mid-point equivalent at the New York close, dealers said. It rose to 2.4715/35 Swiss francs from the 2.4685 New York close, and HK54.6770/10 from $4.6700/40 at Saturday's
        199 words
      • 159 8 TOKYO, Mon. The US dollar for overnight dellvery closed lower at 292 yen compared with 292.90 at the opening and 292.50 at Friday's cTose, mainly because of expected further appreciation of the yen, dealers said. An Initial rise in the dollar reflected the relative strength of the US unit
        159 words
      • 172 8 Euro rates LONDON, Mon. Active enquiry was reported in Eurodollar deposits in early trading but turnover was modest. Most rates opened higher although the loss of Friday ends of periods In One and Two Months saw these rates start 1/8 easier and unchanged respectively. Initial gains ranged to 3/16. Firmer
        172 words
  • Page 8 Advertisements
    • 161 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) Surface mail Zone Singapore Malaysia, Brunei Overseas Second class airmail (Individually w rapped and mailed) Zone Brunei. Sarawak. Sabah Australasia/Pacific (excluding
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  • TRANSPORT AND COMMUNICATIONS
    • 746 9 MOSCOW, Monday UPI SOME Western experts believe it may be bound for a billion-ruble scrap heap. Others contend its development is Just a bit behind schedule. Soviet officials make vague statements on the subject or say nothing at all. But one thing seems clear: the
      UPI  -  746 words
    • 695 9 Washington Star WASHINGTON, Mon. Secretary of Transport-ation-designate Mr. Brock Adams says he plans to review at least two of the most controversial decisions recently made by the outgoing secretary, Mr. William Coleman Jr. those involving car air bags
      Washington Star  -  695 words
    • 388 9 UPI LONDON. MON British Broadcasting Corporation officials are discreetly sounding out European Common Market nations about setting up a communal radio service aimed at developing a "common market public opinion." broadcasting sources said yesterday. One goal of such a service
      UPI  -  388 words
    • 55 9 AP LIMA. Mon. A Sovietbullt 38.200 tonne freighter purchased by the Peruvian shipping company Naviera Humboldt, S.A., is scheduled to arrive in nearby Callao harbour shortly. The new freighter was sold by Sudoimport and commissioned in Leningrad as the "Luis Banchero" in September, according to
      AP  -  55 words
    • 225 9 UPI WASHINGTON, Mon. The Senate will start tomorrow investigating a rash of oil spills by foreign tankers that made 1976 the "worst year in history for such accidents and raised fears the problem could worsen in the future. The probe, first major investigation
      UPI  -  225 words
    • Article, Illustration
      366 9 EXPECTED ARRIVAL TODAY KEPPEL WHARVES Benledl (0600 after Chusei Maru) 33/34 Bunga Blndang (after Pabloeverett) 19 Cherry Blossom II (B. Barge) 48 Gemllang (1200 44 Kelyo Maru (after Golden Hill) 35/36 King Luck (0600 24 King Sun (0600) 22 Hague Maru (0400) 15/16 Nashan (H3DV 0600 after Chusei
      366 words
    • 555 9 ARRIVALS Service Local Operator Number Time From CAL TMA CI331 TL303B 0040 0215 TPE/HKO/KUL BEY/DXB/BCM/ KUL MAS JAL MH682 JL712 0810 1000 KCH HLP SIA OIA GIA SQ211 OA 980 GA908 1010 1030 1100 HLP HLP MES SAS RBA SK971 BI325 1130 1155 CPH/BKK BWN SIA SIA
      555 words
  • Page 9 Advertisements
    • 202 9 [pS] DANIEL mhcentauri afi COMPANY World Wide Trading Offers you service'in: General importers exporter and financiers Third Country trade's Buying Agents Manufacturer s representatives SNooer s T-anspc'tator warehousing contractors Raw material bulk buyers sene^ Party to investment m manutactur ing service organisation OUR SPECIALIST DEPARTMENTS Building Materia' Eieci'tcai Electronic Products
      202 words
    • 495 9 Business Management in Penguins THE DEBT TRAP S!/ HOW TO SURVIVE N THE SLUMP cm The Debt Trap: Cheryl Payer The International Monetary Fund is the most powerful supra-national government in the world today. This book is about the efforts of poor nations to gain some control over their own
      495 words

  • 1167 10  -  By TERESA LIM INTEREST is stirring again in the elections of the Singapore Chinese Chamber of Commerce, scheduled for next month, with the compulsory stepping down of the incumbent, Mr. Tan Keong Choon, after completing two consecutive two-year terms as president. It
    1,167 words
  • 1703 10  -  Petronas has made great strides since its formation in 1974. It showed its strength during the recent negotiations with the oil companies. But there is still a long way to go By ABDUL KADIR JASIN, KEVIN RAFFERTY THREE YEARS ago a hardened International oil
    1,703 words
  • 1116 10  -  By A.H. RASKIN NYT EVEN though organised labour contributed Importantly to the vote for Mr. Jimmy Carter, the election that will have most to do with the 1977 outlook for wage-price Inflation and with American labourmanagement relations Is still ahead. It Is the
    NYT  -  1,116 words
  • Page 10 Advertisements
    • 194 10 1 ASM RESEARCH BULLETIN This unique publication offers businessmen eoch month a comprehensive guide to the latest developments that have taken ploce in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin is divided into six separate reports of about 8,000 words eoch. There
      194 words

  • Page 11 Advertisements
    • 464 11 How advertisers can mount a campaign aimed et businessmen Tactical information from Business Times x «r f T LJ 3. Shotgun approach beware. Be careful about spreading your message across too many publications. This approach is called the shotgun approach. A secret: Research into readership indicates that readership of advertisements
      464 words

  • 269 12 Reuter KUALA LUMPUR, Mon. Penang tin market sources said they believed the International Tin Council buffer stock manager may have completely sold out his stock In Penang late last week, although still holding some metal In London. The Straits tin price in Penang rose
    Reuter  -  269 words
  • 208 12 PENANG, Mon. The US home offices of three electronics companies here National Semiconductor Intel and Advanced Micro Devices have given an assurance, they would work closely with the State Government and try not to lay off workers. "They gave this assurance when I met
    208 words
  • 248 12 AN emergency meeting will be held by four branches of the Singapore Industrial Labour Organisation (Silo) this week to decide by secret ballot on the action to take against four firms which have refused to give their employees their "due rights". The NTUC
    248 words
  • 759 12 LONDON. Mon. Trading in British government bonds featured the market as longer maturities rose up to IV, points in fairly active business, dealers said. By lunchtime, there was a reaction on rumours that a new 'tap' stock might be announced at 3.30 p.m., they added. Net gains then
    759 words
  • 161 12 A SYMPOSIUM extolling the virtues of traction winch systems which claim to represent a new concept In ocean towing, pierside mooring and single point mooring, was held here yesterday. It was conducted bv Mr. Joseph Linehan, (above), chief engineer of Samson (US), on behalf of
    161 words
  • 199 12 THE price of a cup of coffee in local coffee shops will remain unchanged despite the more than 400 per cent rise In the price of the coffee bean recently. Over a year ago, the price was $120 per 60.5 kg but since
    199 words
  • 118 12 COUNSEL for a shipping company, Jorn Peterson Pte Ltd facing a winding up order for "insolvency" in the High Court yesterday, won a six-week adjournment to prepare a salvage scheme acceptable to creditors. Mr. Abraham Mohan, for Jorn Peterson, said that the scheme would Involve
    118 words
  • 617 12 AFTER DEMANDS FOR HIS RETURN UPI HONOKONO, Mon. China's top leaders were believed to be meeting today to deal with public demands for the reinstatement of purged Vice Premier Teng Hsiao-ping and the transfer of an army commander who ordered pro-Teng riots put down
    UPI  -  617 words
  • 543 12 Reuter TOKYO, Mon. International affairs experts from North America, Western Europe and Japan today pinpointed trade, nuclear non-proliferation and an international grain reserves system as the most promising areas for increased cooperation with communist nations. In a report to a private commission of
    Reuter  -  543 words
  • 399 12 Reuter HONGKONG, Mon. International sugar trading sources here said London trade estimates that China has probably bought more than 300,000 tonnes of raw sugar from the world market since the beginning of December appear rather high. They said It Is impossible to
    Reuter  -  399 words
  • 274 12 Reuter MANILA, Mon. Leading Filipino newspaper columnist Teodoro Valencia said today that an independent, sovereign Philippines without American bases would be a better friend to the United States. Writing In his Daily Express column, Mr. Valencia said the Phlllplnes could be friends
    Reuter  -  274 words
  • 393 12 KUALA LUMPUR, Mon. Banks should review and improve their techniques of lending to move with the times, Datuk Arshad Ayub, the deputy governor of Bank Negara, urged today. He was opening a 10-week course on credit analysis conducted by Malayan Banking for its branch
    393 words
  • 186 12 UPI MANILA. Mon. President Ferdinand Marcos, citing the failure of the judiciary as one of the proximate causes of national upheavals, today called on developing countries to create a "strong infrastructure of law." "If is our experience in Asia that revolutions do not 8 se
    UPI  -  186 words
  • 168 12 AP BANGKOK, Mon. Laos has asked Thailand to resume normal air flights to the capital using Soviet aircraft flown by Soviet pilots a spokesman for Thai Airways company said today. The request Is being considered by the Thai Ministry of Communications, and negotiations will take
    AP  -  168 words
  • 336 12 JURONG Engineering (JEL), a subsidiary of Jurong Shipyard has netted $24 million worth of sales in 1976. But Mr. Low Guan Onn, joint managing director of Jurong Shipyard Group, warned, last year's success is no reason for complacency. "We must
    336 words
  • 354 12 FOLLOWING the successful development of a $25 million office building at Cecil Street, Singapore, the Hongkong-based Wing On Life Group has started on a second $25 million project this time a 28-storey apartment block at five km Buklt Tlmah Road. Speaking at the
    354 words
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    • 0 12 )>}."*%</~@^`:-^"(,%(*,%~<\']>\
      0 words
    • 364 12 Good reading on 4MK from Penguin China the most populous nation in the world. Fast emerging as a major power in world politics. Isolated from the rest of the world for over two decades, world attention has nevertheless turned to this most enigmatic of nations time and again. Starting with
      364 words