The Business Times, 7 February 1977

Total Pages: 10
1 10 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, FEBRUARY 7, 1977 SO CENTS
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  • NEWS IN BRIEF
    • 69 1 Reuter HONG KONO, Sun. A delegation of the Comecon the economic organisation of the East European communist bloc has arrived In Vientiane for a two-week visit to Laos, the Khaosan Pathet Lao news agency reported today. The agency said the 15-member delegation, led by Mr. Joseph Kotchlsk,
      Reuter  -  69 words
    • 66 1 AP PARIS, Sun. Ford Is to produce dlesel-englned automobiles for the first time, using engines bought from the French Peugeot Company to equip vehicles from Ford's European subsidiaries, It was announced here The announcement that Peugeot, long experienced In dlesels for passenger vehicles, will make dlesels for
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    • 84 1 AP JERUSALEM, Sun. President Carter's administration has decided to Increase economic aid to Israel for fiscal 1978 by US$2B5 million (*****.25 million), bringing the total for the year to $1,785 billion, sources In Jerusalem said today. The sources said Israel's embassy In Washington had been
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    • 65 1 UPI WASHINGTON, Sun. President Carter Is planning to replace about half of the 120 US ambassadors worldwide during the next six months, the Washington Post reported In Its Sundays editions. Quoting informed officials, the newspaper said the Administration's advisory board on ambassadorial appointments is already Involved
      UPI  -  65 words
    • 50 1 Reuter MILAN, Sun. Alfa Romeo Spa said assembly of Alfa Sud cars has started In Malaysia, In the Kuala Lumpur factory of Swedish Motor Assemblies. Next month the factory will start assembly of Alfetta cars. Alfa cars have been sold In Malaysia for over 10 years. Reuter.
      Reuter  -  50 words
    • 50 1 Reuter MANILA, Sun. President Ferdinand Marcos today introduced a code of personal laws for the two million Muslims In the predominantly Christian Philippines. The presidential press office said the code would set laws for Muslims covering personal status, marriage, divorce, matrimonial and family relations, succession and Inheritance. Reuter.
      Reuter  -  50 words
    • 71 1 AP JERUSALEM, Sun. Prime Minister Yitzhak Rabin and his chief rival for Israel's top Job, Defense Minister Shimon Peres, have agreed on Feb. 23 as the date for the vote for leadership of the Labour party. The winner has a slightly better than even chance of
      AP  -  71 words
    • 51 1 Reuter STOCKHOLM, Sun. Swedish Central Bank governor Carl-Henrlk Nordlander confirmed that Sweden Is to raise a loan of about US$l billion (552.5 billion) on the international market. The syndicated bank credit will be raised by a limited number of North American and European Banks, he said.
      Reuter  -  51 words
    • 65 1 Reuter BANGKOK, Sun. The Government suffered seven killed and 27 wounded In operations against communist guerillas In various parts of the country last week, Radio Thailand said today. The state-run radio said two officials died and nine others were wounded In 16 clashes reported In the week
      Reuter  -  65 words
  • 112 1 THE following lilt of stocks give* the 10 tnc *t traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units, closing prices on Friday and the high and low for 1971/77. Company Turnover Price High Low 000 Feb 4
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  • LOCAL STOCK INDICES
    • 78 1 Jan 31 Feb I Feb 2 Feb 3 Feb 4 tt B.T Index: 264.39 262.80 261.22 262.81 260.76 Industrials: 256.39 255.91 254.99 254.90 254.42 9 Finance: 441.50 440.33 437.81 439.16 438.26 Hotels: 150.00 165.77 155.67 156.19 155.80 Properties: 148 85 149.04 148.54 148.31 147.92 t Tins: 106.36 106 36
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    • 80 1 Jan 31 Feb 1 Feb 2 Feb 3 Feb 4 tt B.T. Index: 202.10 Closed 200.81 201.51 199.68 Industrials: 278.98 Closed 277.88 278.15 277.64 Finance: 380.31 Closed 376.31 377.45 375.52 Hotels: 171.16 Closed 171.16 171.39 171.39 Properties: 147.35 Closed 147.14 147.25 146.64 t Tins: 105.18 Closed 105.24 105.29 105.46
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  • 910 1  -  RAPID GROWTH IN WATCH EXPORTS By QUEK PECK LIM ALMOST without notice and certainly without much publicity, the Indigenous watch Industry has grown Into an export business worth more than $100 million a year, according to the latest statistics. While attention has been
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  • 144 1 Reuter LUXEMBOURG, Sun. Mr. Roy Jenkins of Britain, new chief of the Common Market commission wllli outline plans to regenerate the Community in a major policy statement on the second day of the EEC Parliament's session starting here tomorrow. The nine-member
    Reuter  -  144 words
  • 425 1 THE next president of the Chinese Chamber of Commerce could very well be Mr Llm Kee Ming or Mr Chew Teng How. These men, who are representatives of the Teochew community (the second largest dialect group In the 55-member committee) are tipped as possible candidates following
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  • 549 1 AROUND a half of all corporate takeovers (by one company of another) are "not successful," and this applies In particular where so-called "conglomerate" mergers are concerned. These rather startling conclusions are put forward by an Australian consultant In corporate planning and development, Mr. James
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  • 98 1 AP MANILA, Sun. Japan's Mitsubishi Bank has bought 10 per cent of the 40 million peso (about Ssl3 million) outstanding subscribed and paid up capital of the Ayala Investment and Development Corporation (AIDC), a Philippine Investment house, the newspaper Philippines Dally Express reported yesterday. There was no
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  • 166 1 S£NATOR Peter Sim, chairman of the Australian Government's Senate Foreign Relations and Defence Committee, arrived in Singapore yesterday afternoon from Manila for a three-day visit. The visit follows meetings in Indonesia, Malaysia, Thailand, and the Philippines. Mr. Sim is on a familiarisation tour
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  • 104 1 Reuter HONGKONG, Sun. Tourism experts from all over the world open a conference here tomorrow to devise ways to promote the Industry in the Pacific. The eight-day Pacific Area Travel Association (Pata) conference will hold discussions on the theme, "The consumer the only person who
    Reuter  -  104 words
  • 449 1 UPI AP BEIRUT, Sun. Qatari Oil Minister Sheikh Abdel Aziz Ben Khalifa A 1 Thanl said In an Interview published today that he expected the Organisation of Petroleum Exporting Countries to agree on a unified price for their oil soon. At the same
    UPI; AP  -  449 words
  • 158 1 UPI NEW DELHI, Sun. An opposition rally featuring the two most prominent political foes of Prime Minister Indira Gandhi today drew a throng of 200,000 people who were urged to oust the government from power In next month's elections. The crowd was twice the size
    UPI  -  158 words
  • Page 1 Advertisements
    • 59 1 FO °*X Wiyfbong MAF A lending hand when Wayfoong Mortgage you need and Finance (Singapore) Limited it ITIOSt Shaw House. Ground Floor. 354 Orchard Road. Singapore 9. Tel: *****7. INSIDE Leisure/ TV A Radio/ Co new*/ Share inforCrossword P2 mation Leisure P3 Overseas markets Feature P4 Commodities International Co. newa/
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    • 133 1 ACBC makes it easy. Come to the bank that not only has the resources, but the connections. Be it in renminbi, or other major foreign currencies. Or other aspects of international transactions. ACBC is the bank that makes banking easy for all its clients With a simple direct serv ice.
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    • 310 1 1 B to his friends. cotogne.. after shave and other things... from pans. ■UTtM lL (H at J 11 NIT ID Which bank works for you around the clock, and around the world? We do. Bank of America. Today, when world-wide money markets and exchange rateschange rapidly, the ability to
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  • 694 2 WHEN US Vice-President Mr Walter Mondale started out on his nine-day, whirlwind tour of European capitals and Japan, some observers questioned the value of the trip. It appeared to lack coherence, there was no clearly defined strategy to the mission, and It was asked
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  • REVIEWS
    • 1003 2 MUSIC AGREED there are more things in heaven and earth than are dreamed of, but performers will be performers. Near a hundred musicians come leaping off the stage and out of the orchestra pit to swashbuckle away with suggestions when
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    • 542 2  - Conductors have something to contribute By JAMES OVERTON UPI EACH time conductor John Prltchard raises his baton to begin the opera Peter Grimes. It is a reunion In spirit for the ruddy-faced Englishman who constantly studies the nature of the Benjamin Britten masterpiece. Prltchard, a friend and colleague of Britten
      UPI  -  542 words
    • 698 2 BOOKS The Economist UTOPIA AND REVOLUTION By Melvin Lasky. Macmillan. 726 pages. £15. THERE have been quite enough revolutions by now, great and small, for people who study politics and history to be able to analyse them, describe them, discuss them and compare them; the central
      The Economist  -  698 words
    • 735 3  -  tBOOKS By CHRISTOPHER LEHMANN-HAUPT NYT The Gamesman. The New Corporate Leaders. By Michael MacCoby. 285 pages. Illustrated with tables and diagrams. Simon Schuster. US$B.95. OH DEAR, it looks as If a whole new set of stereotypes Is about to invade our cultural blather. Here
      NYT  -  735 words
    • 850 3  -  "The English hate writers," said Mr. J.B. Priestley. To prove the point, the House of Commons recently killed off a Bill which would have given writers royalty payments on books lent out at public libraries. By M. THOMPSON-NOEL Financial Times ONCE in a while a writer
      Financial Times  -  850 words
    • 693 3  -  By BARRY RILEY The Evolution of Giant Firms in Britain by S.J. Praia. National Institute of Economic and Social Research/Cambridge University Press, £8.50 BIG IS NO LONGER beautiful; but It Is not yet clear whether the process of concentration of manufacturing Industry In the U.K.
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    • Article, Illustration
      1512 3  -  By STANLEY L. WU SUNDAY: It was heavily overcast and drizzled intermittently, not my type of weekend weather. However, I didn't mind it at all this particular Sunday. After the hectic pace of the Christmas and New Year festival activities, I was content Just to sit on
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  • Page 2 Advertisements
    • 71 2 cr L 4 *3^ u-»« ••x > > V ifi •rrviTt mm KVZefeliiUKWelTi Fs •1IIA'M(«IH iri T Ki« i i i: ir paasa •1 Wil Rk>l fli mum •II •if :iliri«Lfill^lfjlL« f r-\l %w%v. fiawciiiififlifKf Llf itlftf Milt JMIII Mt •I• IUB Ll9 mm BORNEO P Marine Division THE BORNEO
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  • Page 2 Miscellaneous
    • 318 2 ER WEATHER report for 24 hours prior to 7.30 p.m. on Feb 6 at Singapore airport: Maximum temperature 31.4° C Associated humidity 59 Minimum temperature 23.6° C Associated humidity 92 Hours of sunshine 7.25 Rainfall in millimetres nil Total rainfall for the month 25.0 Total rainy days for the month
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  • Page 3 Advertisements
    • 421 3 LAND S3 5 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,
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  • Page 3 Miscellaneous
    • 471 3 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE 3 Students of quality (S) 8 Great man with nothing possibly to be glum about (5) 10 Gold-digger of '49? (5) 11 People spilling Ink (3) 12 Cleaning plant (5) 13 Hung around the wild glen, dad (7) 15 "Bear" In an unconscious state? (5) 18
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  • 801 4  -  By DAVID ANDELMAN NYT SENIOR Indonesian Government officials, acting at the orders of President Suharto, have begun an investigation of bribery and kickback charges involving the nation's US$l6l million satellite-communi-cations network built to link the 5,120 km long chain of Indonesian islands. This case,
    NYT  -  801 words
  • 921 4  -  By JAMES RESTON NYT PRESIDENT Carter gave the country the old Dutch Uncle treatment In his first fireside talk all real cosy, quiet and family-like but he has a problem with this gentle, folksy approach to the energy crisis. His problem is that he has been saying
    NYT  -  921 words
  • 719 4 'Babuji' a power to reckon with in Indian politics NEW DELHI: Sunday NYT THE burly P°-year-old politician who stunned India last week b: resigning from both goverr nent and Congfess Party >f Prime Minister Indira Gandhi has been a power to reckon with for three turbulent decades of Indian politics.
    NYT  -  719 words
  • Page 4 Advertisements
    • 227 4 VAPORAX The third generation automatic packaged steam boiler that helps you cut costs in I h four different ways -a wr Now manufactured in Malaysia Available from 150 kg/hr to 5000 kg/hr capacity and working pressures 10,15, 20 kg/cm 2 and above. George Kent (Malaysia) Berhad Office Nq2. Lorong 19/1
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    • 3 4 See Page 10
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  • Page 4 Miscellaneous
    • 189 4 CROSSWORD SOLUTIONS CRYPTIC SOLUTION ACROSS. 3, Class. 8, M-O-gul. 10, Miner. 11. Kin 12, Broom. 13, Da-ngle-d. 15, KO-a-la. 18. Air. 19, Fennel. 21, Creat-O-r. 22. Rory. 23, (c) Rude 24, Derbies. 26, 'Phoned. 29, L-AD. 31, Hiker. 32, Den-uded. 34, Vlr-us. 35, Cow. 36, Skied. 37, TeNTH. 38, Ref-er.
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  • INTERNATIONAL COMPANY NEWS
    • 115 5 NEW YORK, Sun With an 8.6 per cent rise in fourth quarter profit, Getty Oil has been able to report slightly higher earnings at U*****.47 million ($256.69 million) for the whole of 1976. Net profit in the fourth quarter rose to $70.99 million from $65.38 million
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    • 86 5 Reuter GREENSBORO. N.C.. Sun. Burlington Industries will spend US$225 million on capital projects in fiscal 1977. up from $160 million in the year ended Oct 2, 1976, chairman .William A. Klopman told the annual meeting. He also said he expects the firm's new operations in Ireland to become
      Reuter  -  86 words
    • 88 5 NEW YORK. Sun With fourth quarter net profit rising 17.7 per cent, Southland Corp has managed to raise its 1976 earnings by 17.2 per cent to US$4O.2 million ($34.3 million) on turnover of $2.1 billion ($1.9 billion). Earnings in the fourth quarter amounted to $9.3 million ($7.9
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    • 574 5 Reuter NEW YORK, Sun. Chrysler Corp over the years has, rightly or wrongly, earned the reputation of having poor styling of emphasizing tall fins when the box look was in fashion, or pushing big cars when gasoline prices were doubling. But in the last year or so,
      Reuter  -  574 words
    • 383 5 Reuter DETROIT. Sun. Severe winter weather affected the sales of new cars in late January spoiling an otherwise good month for the motor industry, US car companies reported. Sales in the final 10 days of January adjusted to a daily rate were down six per
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    • 250 5 Reuter NEW YORK, Sun. Racal Electronics said it Is filing an action against Applied Data Digital Systems Inc alleging, among other things, violations of the federal securities law In relation to Applled's exchange offer for Mllgo Electronic Corp. Racal said Its suit will seek remedies Including
      Reuter  -  250 words
    • 261 5 Reuter SAN FRANCISCO. Sun. Lockheed Aircraft Corp's business efforts "in certain areas" has been hindered by foreign reaction to its overseas payments, chairman Robert W Haack said. Mr. Haack. addressing the Commonwealth Club here, did not name the specific areas that have been affected. However, he
      Reuter  -  261 words
    • 79 5 Procter Gamble NEW YORK. Sun. For the second quarter ended Dec 31, 1976, Procter and Gamble has reported a 16.7 per cent rise in net profit to US$lOl.O2 million ($86.57 million) on a sales increase of 12.3 per cent to $1.73 billion ($1.54 billion). This raised mid-term profit by 22.7
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    • 142 5 Reuter TOKYO. Sun. Denkl Kagaku Kogyo (DKK) said It signed an agreement to buy Petro-Tex Chemical Corp's petrochemical factory In Houston. The price was not disclosed. DKK said It will take ownership within three months of the plant, which has annual production capacity of 27,500
      Reuter  -  142 words
    • 136 5 NEW YORK, Sun. The profit improvement at American Can slowed down considerably in the last quarter of 1976, with net profit rising by only 3.4 per cent to US$2l.6 million ($20.89 million) on sales of $744.4 million ($714.2 million). This reduced the full year increase to
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    • 31 5 NEW YORK. Sun. Studebaker Worthington has raised its quarterly dividend to 42 US cents per share from 33 cents, payable on April 25 to shareholders on record on March 31.
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    • 379 5 Reuter LONDON, Sun. The British Labour Government Is under pressure from a small group of ministers to think again about Its plan to sell off nearly £700 million worth of shares In British Petroleum, informed sources said. Opposition to the scheme is led
      Reuter  -  379 words
    • Briefly
      • 91 5 Reuter SYDNEY, Sun. Robe River said production at the Robe River iron ore venture rose to 3.38 million tonnes of coarse ore in the quarter ended Dec 31 from 2.5 million tonnes previously. Production of fines rose to 2.05 million tonnes from 1.52 million and of pellets to
        Reuter  -  91 words
      • 84 5 LONDON. Sun. On a sales increase ol 22.5 per cent to £1.47 billion (£1.2 billion), Grand Metropolitan has raised pre-tax profit by 36 per cent to £57.08 million (£41.96 million) in the year ended Sept 30. 1976. Earnings per share rose to 8.918p from 8.15p and the company
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      • 54 5 LONDON, Sun. Gallaher, UK subsidiary of American brands Inc, said It plans to spend £12 million on capital development in the next three to four years. Some £8 million will be spent on modernising cigarette and tobacco production at Belfast and Ballymena, Northern Ireland. and £4 million on the
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      • 95 5 NEW YORK. Sun. For the first six months ended Jan 8, 1977, net profit at Wynn-Dixie rose 22.5 per cent U5534.67 million ($28.31 million) on sales of $2 03 billion ($1.71 billion). In the second quarter, net profit rose 20.2 per cent to $19.94 million ($16.59 million) on a
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      • 61 5 Reuter TOKYC. Sun. Sony, Tok-yo-Shibaura Electric and Sanyo Electric said they Jointly developed a new standard two-hour-record-ing home video tape recorder based on Sony's Betamax System. The unit, named Beta Format, will go on sale from April at price of about 270.000 yen. The _new system will
        Reuter  -  61 words
      • 58 5 NEW YORK, Sun. Uniroyal said its Uniroyal Tire plans to expand radial truck tyre production by 40 per cent during 1977. Uniroyal said industry truck and bus tyre shipments to the replacement market during 1977 are expected to rise 12 per cent from 1976 and Increase slightly more than
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      • 30 5 WOODCLIFF LAKE. N.J. Sun. Ingersoll-Rand Increased the quarterly dividend to 70 US cents a share from 67 cents, payable on March one to shareholders on record on Feb 14.
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  • OVERSEAS
    • 122 5 Reuter TOKYO, Sun. Japan will shortly seek permission from the Paris-based Co-or-dlnatlng Committee for Export Controls (Cocom) for the sale of three large-scale electronic computers to China, the Foreign Ministry said. Trade and Industry Ministry officials said the application for Cocom approval is likely to
      Reuter  -  122 words
    • 336 5 Reuter GENEVA. Sun. Industrialised countries challenged proposals by producer states to set up a reserve buffer stockpile as part of a scheme to stabilise prices for Jute at a weeklong UN meeting which ended here on Friday, delegation sources said. Delegates from consumer countries questioned
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    • 199 5 Reuter TOKYO, Sun. Japan's steel exports In the current fiscal 1976 year ending March 31 are certain to reach a record of between 36.5 and 36.8 million tonnes, surpassing the existing record of 34.5 million tonnes In 1974, Trade and Industry Ministry officials said. This
      Reuter  -  199 words
    • 140 5 Reuter BAHRAIN, Sun. The first International loan denominated In Bahrain currency has been launched for the Philippines by an American finance company, Kidder, Peabody Incorporated, a company spokesman said here over the weekend. The eight million dinars (5550.4 million) loan Issue has three of Bahrain's new offshore
      Reuter  -  140 words
    • 163 5 AP MANILA, Sun. The Philippines has agreed to limit Its exports of knitted shirts and similar articles to France and Britain until the end of the year following agreements between the Philippines and the European Economic Community last month, a spokesman for the Textile Export
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    • 102 5 Reuter UTRECHT, Sun. Strike action is due to begin tomorrow in the ports of Rotterdam and Amsterdam following the employers' rejection of union demands for continued wage Indexation, union spokesman said. Strike action will Initially be taken by about 2,000 of the total
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    • 125 5 Reuter LONDON, Sun. The India-Pakiatan-Bangladesh freight conferences Mid they are seeking an increase of 15 per cent in rates from Europe to India, Pakistan and Bangladesh and from the continent to Sri Lanka. They also want a 20 per cent increase on rates from the UK to
      Reuter  -  125 words
  • Page 5 Advertisements
    • 23 5 it*-'* *Jr VI A SPECIAL LJUNAR YEAR BARGAM AT $189/90 fiAn QIP STOR&P^ HKX ST CENTRE*OCEAN BUILDtNG* SUPREME MOUSE •GOOOWOOO. HILTON,RAFFLES HOTELS*COLD STORAGE
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    • 129 5 Serving the vital needs of mankind with equipment for processing, mining, agricultural, industrial and electrical markets around the world... Allis-Chalmers Corporation In Papua New Guinea, one of the world's largest open pit mines helps ease the growing need for copper Essential to this 5400 million complex are crushers, mills, screens
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  • COMPANY NEWS
    • 564 6 CONSOLIDATED pre-tax profit at Ulu Benut Consolidated Industries (M) slipped to M*809,468 for the year ended Aug 31, 1976 from $816,390 previously. The marginal fall, however, was made up at the attributable level where after taking into account reduced taxes and minority Interest, group profit
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    • 455 6 DENTING Highlands Hotel has called for an EGM on Feb 21 to formalise Its Msl6o million takeover of Oolden Hope Plantations. The company is asking shareholders to approve its takeover offer as detailed in the formal documents of Jan 28 and to authorise the
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    • COMPANY MEETINGS
    • 229 6 RALEIGH Cycles (M) will supply bicycles worth MSI million to Nigeria In the first half of this year, the managing director, Mr. K.I. Mackay said. He said he was optimistic the second half would bring a bigger order. Raleigh exported 7,500 bicycles valued at $1.3 million
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    • 255 6 THE Stock Exchange of Singapore has asked Temenggong for further information on its acquisition of a further 40 per cent stake in Oreatways International (Singapore). It would like to know the basis upon which the consideration of $700,000 paid to Oreatways International (Hongkong) for
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    • 43 6 IN Its first four days of trading on the Stock Exchange of Singapore last week, the pilot options scheme saw a total of 1,029 contracts written. And not 1,029,000 contracts as reported In the weekly market review in Saturday's Business Times.
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    • 186 6 Current Ex Date Total for Total for payment Date payable the year previous year P«htn| Pref. 3.5*+ Jan 25 Feb 7 3.5%+ 7% L'.M. Flour 10% Jan 20 Feb 10 10% 10% Sel. Dredging 35%+ Jan 20 Feb 11 35%+ 40% D. Keramat 66.67%+ Jan 26 Feb 17
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  • 2199 6 i m Hick Low CoaHV Last Sab Wwk Qr's Dhr Dfr Ctt Or'. Y'W Net P/E «Mk Vol CM*) Weak High Low SECTION ONE INDUSTRIALS 175* 206 100 237 180 201 204 248 480 137 133 172 80 185 86 127* 149 172 386 39
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  • Page 6 Advertisements
    • 416 6 THE GREAT BOOKS of the beautiful, durable bindings la the the fundamental ideas of HVI PkHI Mil H science, history, psychology, WBw I WV%rl MHil# Here In beautiful, durable bindings Is the whole record of the fundamental Ideas of mankind science, history, psychology, mathematics, theology, literature and poetry. This magnificent
      416 words

  • WALL STREET AND OTHER OVERSEAS MARKETS
    • 1193 7 NEW YORK: Stocks travelled along a firmer path on Friday. But gains were pared in late trading as Wall Street continued to worry about the fate of President Carter's tax package, which has met stiff resistance in Congress The Dow Jones index roee. 0.75 point to 947.89. The
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    • 497 7 TOKYO: Share prices firmed in fairly active half-day trading on Saturday, on sustained selective demand In medium-sized popular Issues and resources-re-lated stocks, dealers said. The Dow-Jones average rose 11.38 to 5.076.84 with volume 230 million shares. The new Index added 1.02 to 382.10. In medium-sized popular Issues. Nippon Oxygen
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    • 282 7 AMSTERDAM: The market closed higher on Friday, although pre-weekend position closing after the rises of the past week meant some shares eased, dealers said. Trading was quiet. Dutch internationals were mostly firmer although Akxo fell slightly. Banks firmed, led by ABN while transports and Insurances were mixed. Industrial and
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    • 368 7 PARIB: The market moved lower In calm trading on Friday following Wall Street's trend on Thursday. In lower automobiles Peugeot, which announced an agreement to supply dleset engines to Feed lost about one per cent Oils were Irregular but Aquitalne, was little changed. It said provisional 1976 sales were
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    • 156 7 MILAN: The market closed firmer In fairly active trading on renewed general demand on Friday. dealers said. In leading Industrials Fiat, both Olivetti and Pirelli, Vlmom and Anic all firmed while Montedison also gained As•icurazioni General! firmed In Insurances as did Mediobanca In banks and Baitofi in flnanclals. Bonds
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    • 361 7 JOHANNESBURG: Gold shares fell sharply on Friday after midday on the lower London fixing and continental selling, dealers said. De Been was five cents lower at 385 Coppers were mixed. Platinums and other minerals were firmer or above the day's lows while some collieries eased Industrials rose above the
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    • 305 7 ZURICH: Shares were steady In small trading on Friday, dealers said. Banks were little changed. Bank Leu closed steady after Its results for 1970 and a proposed capital Increase. Parish** (Suisse) firmed slightly on some buying Interest. Schweis Volksbank was steady After the bourse closed the bank announced higher
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    • 321 7 TORONTO: Industrial and oil Issues move higher while the papers declined along a broad front at the close of moderate trading on the Toronto market, on Friday. Walker-Gooderham A advanced at 2814, Chieftain Development 7 4 to 12*. Pacific Pete S to 29'*. while Great-Weat-Life dropped 1 to 51*.
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    • 1201 7 On February 4 PRICES on the Chicago Board Options Exchange mixed last Friday. Advances led declines, 218 to 197. Volume approximated 75,946 contracts, compared with 76,866 contracts on Thursday. OPTION APL JLY OCT STOCK Alcoa SO 3 1/2 8 6 5/8 51 1/2 Alcoa 60 vie 1V16
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    • 122 7 BRUSSELS: The market was narrowly mixed In quiet preweekend trading on Friday, dealers said. Hobokea. Acec and Cometra were firmer while Sidro, Traction, "ft ainaut-Sambre and Finoutremer were easier. KKB 04 Frs FORWARD MARKET Acec 330 ♦8 Arbed 3175 -25 Astur 980 unch Brasrar. 520 -4 Bru-Lamb 1780 10
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    • 298 7 FRANKFURT: Shares closed firmer on Friday, with activity centred on leading chemicals which gained up to 0.70 marks led by Hoechst. dealers said. The car sector showed gains t»twffn one and 3.50 marks led by BMW. In banks Dcuuche Bank was 1.30 marks higher. Electrical, steel and utility shares
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    • 61 7 FINANCIAL TIMES INDUSTRIALS Friday 403.8 Thursday 406.0 Week ago 403.2 DOW JONES AVERAGE INDUSTRIALS Friday #47.89 Thursday 947.14 Week ago 957.53 LONDON DOLLAR PREMIUM Friday 102* to 103* Thursday 103* to 103* H.K. HANG SENG Friday 435.91 Thursday 433.39 Week ago 433.41 SYDNEY INDUSTRIALS Friday 359.65 Thursday 359.54 Week
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  • 278 7 NYT WALL Street's script last week held true to the typical pattern established so lar for 1977 strength In energy issues, weakness In the glamours and a continued decline In the Dow Jones Industrial average. The blue-chip Dow sank 9.64 points during the week to finish
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  • 155 7 Reuter TOKYO, Sun. Nippon Telegraph and Telephone Public Corp (NTT) said it filed with 'he US Securities and Exchange Commission for a $150 million government guaranteed bond Issue in New York later this month or early next month. Terms are still under negotiation, but NTT said the
    Reuter  -  155 words
  • 184 7 Reuter TOKYO. Sun— The Tokyo Stock Exchange said the outstanding balance of buying in margin trading on the Tokyo, Osaka and Nagoya stock exchanges as of Jan 29 fell to 906.5 billion yen from the record 914.3 billion yen a week earlier. The decline, the first
    Reuter  -  184 words
  • Loans
    • 95 7 Reuter LONDON. Sun. The Japanese industrial company Hitachi Zosen Kabushlkl Kalsha plans to raise US$3O million through an issue of guaranteed notes due 1984 with an expected 7 3/4 per cent coupon, S O Warburg said. A sinking fund will reduce the average life of the issue to
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    • 44 7 HONGKONG, Sun Manila Electric of the Philippines Is seeking a US$4O million, six-year loan at Interest of 1.75 per cent above the London Interbank offered rate, banking sources said. The loan Is currently being syndicated by Asia Pacific Capital Corp, they said.
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    • 115 7 Reuter BRUSSELS, Sun. The city of Oslo Is expected to raise 500 million Luxembourg francs with the issue of 10, year bonds with an 8.5 per cent coupon, bond market sources said. The sources noted that the coupon Is the lowest for Belgo/Luxembourg francs for some time,
      Reuter  -  115 words
    • 52 7 Reuter FRANKFURT. Sun. The Swedish state -oinpany, Statsforetag is floating a 100 million mark eight-year Eurobond, probably at seven per cent with a 99 1/2 per cent issue price, lead manager Dresdner Bank confirmed. The bond will be redeemed starting after four years in four equal annual drawings fr<»L'
      Reuter  -  52 words
    • 48 7 LONDON. Sun The Norsk Hydro USsoo million Eurobond has been priced at 99 1/2 per cent with an 8 1/2 per cent coupon, Hambros Bank sald*as lead manager. The bonds will mature on March 1, 1992. and will be redeemed by instalments starting March 1 1982
      48 words
    • 32 7 LONDON. Su The Republic of Iceland US$2O million 10-year Eurobond was priced at 99 1/2 per cent with a nine per cent coupon. First Boston (Europe) said as Joint lead manager.
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  • Page 7 Advertisements
    • 435 7 /ht 11 rtt proper volume. Your eyes axe directed to the 1 111 l OI il 1 UTrAAi right chapter, page, and paragraph. Your mind is then enriched by the very words the author had to say about the idea. what the GREAT BOOKS can mean to yt>u Just as
      435 words

  • COMMODITY REPORTS AND PRICES
    • 292 8 LONDON, Sun. Terminal rubber eased slightly In relatively quiet pre-weekend dealings to close around the day's lows on Friday. But gains from Thursday still ranged from 1.35 pence (near Mch at 55 pence bid) to 0.05 pence per kilo. Turnover totalled 122 lots of 15 tonnes and 16
      292 words
    • 151 8 THE straits tin price In Penang on Saturday was down $6.00 to $1513 per plcul on an official offering down 19 tonnes to 230 tonnes. In LONDON on Friday, tin fell by about £12 for Cash and £15 for Three Months In both contracts. The market was moderately
      151 words
    • 114 8 THE following Palm Oil prices were quoted In London on Friday. The prices are elf Rotterdam and are quoted In US dollar per ton unless otherwise stated. Friday. Pre*. Malaysia 5% ffa bulk Apl/May Sumatra 5% Jan Feb Mar Apl May Afloat Nigerian 5% ffa bulk Sterling per
      114 words
    • 264 8 CHINESE PRODI'CE 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. $55 buyers. Pepper Muntok ASTA white f o b. 100% NLW $350 sellers. Sarawak white f ob 96% NLW $330
      264 words
    • 433 8 IN the Singapore gold market on Saturday, the kllobar was quoted at a nominal 5510,580.00. The loco London gold stayed at U*****.60/133.00 In line with the slightly firmer closing on the US gold futures market. Source Singmas. The Singapore Chinese Oold and Silver Merchants Association on Saturday quoted the
      433 words
    • 152 8 LONDON, Sun. Spot silver closed slightly lower at 260.50/ 261.50 pence per ounce while three months was quoted around 269.70/270.70 on Friday, dealers said. Overall trading was relatively subdued with the price fluctuating only narrowly around the weaker opening level, they said. The fall in gold bullion price acted
      152 words
    • 36 8 LONDON, Sun. Zinc finished with losses of £6.25 for Cash and £5.75 for Three Months on Friday. This metal was rather subdued but values were steady In line with the general trend. Sales 1500 tonnes.
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    • 46 8 LONDON, Sun. Lead closed £0.25 down for cash and £2 lower for Three Months on Friday. Endweek covering and further fresh buying steadied the market and three months worked higher to finish the kerb trading at £360. Sales of 3500 tonnes were about half carries.
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    • 285 8 LONDON, Sun. Copper wlrebars on the day showed losses of fully £6 for Cash and £8 for Three Months on Friday. The market hovered around the steadier endmorning kerb levels In thin two way trading in the absence of definite pressure either way. Three Months traded between £856.50 and
      285 words
    • 213 8 LONDON, Sun. Futures remained quiet on Friday afternoon on lack of news and prices drifted slightly lower under long liquidation to close £1.65 to £0.50 down. Sales totalled 2,256 lots. Call options comprised one May, premium £10 basis £131.75, seven Aug premium £20 basis £133.75 and £132.25, four Oct
      213 words
    • 212 8 BANGKOK, Sun. Indicative prices for rice quoted In Bangkok on Saturday were: US dollars per tonne fob basis Bangkok. 100 per cent Ist class 282 100 per cent 2nd 267 100 per cent 3rd 262 s.per cent 254 10 per cent 233 15 per cent 230 20 per cent
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    • 273 8 LONDON, Sun. Coffee futures advanced during Friday afternoon on preweekend buying helped by New York advices and renewed physical offtake. But best levels were not maintained and the market turned Irregular at the close. Values closed £52 to £42 per tonne up form Thursday. May, after establishing an earlier
      273 words
    • 121 8 CHICAGO, Sun. Wheat futures recovered from small early losses to close at the day's highs with gains of five to two cents a bushel on Friday. Early weakness reflected easiness In soybean futures. Commercial buying Interest later prompted shortcovering and speculative buying which took prices higher and the advance
      121 words
    • 155 8 CHICAGO. Sun. Soybean futures closed on a mixed note on Friday, but finished at or near the day's highs. Old crop months closed 11/2 to 1/4 cent a bushel higher, while new crop contracts were down 1/2 to three cents a bushel. Profit-taking and speculative selling followed Thursday's advance
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    • MONEY AND EXCHANGES
      • 155 8 FOLLOWING the news of a second biggest US trade deficit in December last year amounting to $5.9 billion. the US unit opened this week at $2.4580-90. But concern over the severity of the winter conditions, which could in the shortterm hamper the recovery of the US economy, saw the
        155 words
      • 281 8 Asian rates THE short date US dollar remained unchanged throughout the week fluctuating narrowly around 4 11/16. The initial firmness In the term deposit at the beginning of the week could not hold and rates began to ease to close lower. The threes and sixes closed around 5 3/1. and
        281 words
      • 259 8 Source: Commercial Discount Company. LAST week began with Interbank overnight money being traded at negative levels of up to minus 1 per cent not an uncommon feature on a Liability Base Day. The surplus situation which began the previous Friday continued throughout last week and on most days
        Source: Commercial Discount Company.  -  259 words
      • 58 8 Minimum lending rates (in ACBC 6\ Algemene Bank .0% Bangkok Bank ..7* Bank of America <5\ Bank of China 7 Bank of Tokyo Bank Negara Indonesia 7 Chartered Bank .0*t Chase Manhattan 6* DBS 6* First Chicago 6* Citibank 6* HSBC 7 Indosuez 9% Malayan Banking 6*4 Mitsui Bank 6%.
        58 words
      • 339 8 LONDON, Sun. The Spanish peseta weakened sharply at the close of trading on Friday, with many banks going short over the weekend In the Spanish currency as fears grew of an imminent devaluation, dealers said. Despite the high cost of finance, some operators were selling pesetas short In both
        339 words
      • 394 8 ZURICH, Sun. Economic news from the US has been quite encouraging (rising leading indicators, rising factory orders, declining trade deficit etc.) On the other hand the severe cold in the US may impact the US economy unfavourably. Against this background the US unit showed fluctuations in both directions without
        394 words
      • 55 8 MONDAY being Base Reporting Day, overnight closed negative 5/8 7/8. Day to day funds continued to be flushed with some Improvement towards the end of the week. Terms rate steadied, better bid In the 1 month period In anticipation of a tight situation during the Chinese New Year
        55 words
      • 158 8 NEW YORK. Sun. The dollar closed slightly firmer on balance on Friday compared with Thursday, after the Labour Department reported a sharp fall in US January unemployment to 7.3 per cent from 7.8 per cent in December. However, the rise was restrained by concern about the future impact
        158 words
      • 155 8 Euro rates LONDON, Sun. Eurodollar deposits closed on Friday little changed from openings in slack trading, dealers said. Taking Interest out of Nassau during the afternoon saw a few periods edge 1/16 higher but trading continued thin. Earlier period rates had a softer tendency when funds came in the middle
        155 words
      • 32 8 FRANKFURT exchanges closing quotes on Feb 14. US 2.4225/45 Can 2.3700/25 UK 4.150/156 Neth 95.76/83 Swltz 96.14/24 Italy 2.74/75 France 48.68/75 Japan 0.8400/15 Belg com 6.515/530 Belg fin 6.525/540 Norw 45.56/63
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      • 46 8 FOR the week ended Friday Feb. 5, the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND: Ift to 5* per cent. GENERAL FUNDS: 2 per cent to 5% per cent. Movements of funds totalled 5377 million.
        46 words
    • 688 8 COMMODITY prices were generally marked up in lack-lustre trading at the Singapore produce market last week. Trading volume was light and still confined to small lots of five or ten tons written on consumer account. For the better part of the week, Singapore dealers
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  • Page 8 Advertisements
    • 141 8 TOP EXECUTIVE how to achieve it how to hold it...TODAY.. ...is for YOU the younger executive This forceful, fast-reading new Guide exposes the '<% dynamic strategies seldom openly discussed and almost unknown to the younger man who needs them most. Now you can learn: khow to create and project the
      141 words

  • 261 9  - Severiano is told to get some in and they don't mean the putts TOP EUROPEAN GOLFER JOINS THE 33-CENT-A-DAY MEN By MIKE McDONNELL MADRID, Sun. TOP GOLFER Severiano Ballesteros, who earned more than £50,000 last year, yesterday started a new life as an eight-pence-a-day (about 33 cents) airman in the
    261 words
  • 1110 9 The Observer LONDON, Sun. Alan Minter has the heart and the hands of a fighter but he may yet have to acknowledge that he does not have the face of a fighter. It Is an attractive face, long and firmly shaped, with good teeth,
    The Observer  -  1,110 words
  • 864 9 AP LONDON, Sun. John Toshack fired In two goals yesterday as Liverpool crushed Birmingham 4-1 and strode on towards the defence of Its English League soccer title. The champions gave a relentless attacking display at Anfleld Stadium after falling a goal behind In the first minute. Liverpool's nearest
    AP  -  864 words
  • 613 9 AP SEATTLE, Washington, Sun They can call her Inhuman, an antomatlon, even "ice maiden", and It won't keep Chris Evert from winning tennis tournaments. Twice the winner at Wimbledon. Twice the winner of the US Open, and of the French Open, and of the Italian Open.
    AP  -  613 words
  • 139 9 Reuter TOKYO, Sun. Motor racing In Japan suffered a big setback this week but boxing continued to enjoy a boom with former World Champion Outs Ishlmatsu making a comeback after en eight-month absence. Boxing fervour has revived here after Japan's only reigning World Champion Yoko
    Reuter  -  139 words
  • 522 9 I. SAIGUSA and K. Iwasa caused a stir at the SICC yesterday when they returned a combined nett score of 58 In the qualifying round of the International Cup at Island Course. Saigusa and Iwasa, who were playing to 80 percent
    522 words
  • 493 9 The final placlngs: (professionals.) 212 M. Marlmuthu 70, 70, 72 (37-35); 214 Phua Thin Klay 72, 71, 71 (35-36); 215 Shamurl Sldek 71, 72, 72 (35-37); 217 All Ratlm 73, 70, 74 (37-37), Teo Chin Hoe 71, 74, 72 36-36). 218 Llm Ah Hong 71, 74,
    493 words
  • Page 9 Advertisements
    • 160 9 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 wYapped and mailed) Zone Brunei. Sarawak. Sabah Australasia/Pacific (excluding Hawaii)
      160 words

  • 304 10 SINGAPORE'S sports equipment dealers are currently riding high on a business that Is worth at least $100 million annually. Trade statistics for sports equipment have shown a steady Increase In Imports over the years, and with markups as high as 200 per cent for
    304 words
  • 278 10 MARINE paint companies in Singapore have done relatively well in the past year, despite the slump in the shipbuilding and shipping Industry. International Paint Company (IPC), especially, is optimistic about 1977 because the facilities offered by Singapore as a marineservice centre are very attractive, it
    278 words
  • 178 10 INFLATION in Britain, France and Italy will stay at double-digit levels this year. But for the United States, Germany and Canada, increases in consumer prices will remain well below 10 per cent. This is the picture as seen in Citibank's crystal ball. In
    178 words
  • 95 10 THE Board of Commissioners of Currency announces the sale of the 1977 $10 Silver Coin today at the Board's premises at Empress Place, between 9.00 a.m. and 3.00 p.m. In addition, for the convenience of the public, the $10 Silver Coins, which are legal tender,
    95 words
  • 270 10 A MACHINE that can cut through wood, cardboard, cloth and any other nonmetallic material with less noise, dust and wastage than other conventional cutting tools Is fast gaining popularity In America and other Western countries. Using water power, the waterjet cutter Is making an Impact In
    270 words
  • 564 10 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKO OA OA472 0200 SYD/MEL JAL JL712 1000 HLP SIA SQ211 1010 HLP OLA GA980 1030 HLP CPA CX710 1030 HLP THAI TG423 1035 BKK OIA OA908 1100 MES PAL PR501 1115 MNL SAS SK097 1140 CPH/DEL/BKK
    564 words
  • 517 10 ON INCENTIVES FOR INVESTORS AP Reuter JAKARTA, Sun. Mr. Plet Haryono, president director of the state oil company Pertamlna said over the weekend that negotiation* with foreign oil companies on Incentives for exploration and production will be resumed here soon. Mr. Haryono said, "Thla
    AP; Reuter  -  517 words
  • 383 10 KUALA LUMPUR, Sun. Union leaders In statutory bodies and local authorities agreed today to call off a strike threat to back their claim for Implementation of the Ibrahim All report. Meeting as members of the Staff Side, they also requested affiliated unions to act
    383 words
  • 367 10 AN oil and gas exploration programme conducted in the deepest water ever drilled has been announced by Esso Exploration, the exploration affiliate of Exxon Corporation. This was in the Andaman Sea, off Thailand, where drilling was in water depths almost three times as
    367 words
  • 250 10 MALAYS account for about one fifth of the total number of trainees In the Industrial Training Board's training courses, as well as registered apprentices. Mr. Ahmad Mattar, Parliamentary Secretary in the Ministry of Education, speaking at a variety concert over the weekend, said that he
    250 words
  • 266 10 THERE Is a shift In Australia's trade pattern away from traditional partners such as Britain and the United States towards Asian nations. Singapore, Hongkong and Taiwan are among Asian nations which have Increased their exports significantly to Australia In the last few years. But
    266 words
  • 53 10 THE National Productivity Board Is organising a course called "Quality control for managers" from April 11—22 at its Town Training Centre, 15 Floor, Hotel Royal Ramada. The course programme covers topics like meaning of quality control, quality costs, organisation for quality control, basic statistical methods, and inspection
    53 words
  • 736 10 THE sad tale of two oilexporting countries, Iran and Saudi Arabia, Is that they are unable to use fully the massive oil proceeds In the most efficient manner. An article of the December Issue of Finance and Development, a quarterly publication by the International Monetary
    736 words
  • 250 10 Reuter JAKARTA, Sub. The Indonesian Government has found no irregularities in the financing of a US$l6l million (*****.4 million) domestic communications satellite, according to Communications Minister Emil Saltan. Responding to a recent New York Times article alleging that foreign companies paid millions of dollars
    Reuter  -  250 words
  • 234 10 Reuter TOKYO, Sun. China will send a high-powered economic mission to Japan in July to seek trade expansion and greater economic relations with Japan, the Association for Promotion of International Trade of Japan said. The Chinese plan was disclosed to a private Japanese
    Reuter  -  234 words
  • 37 10 Reuter NEW YORK, Sun. President Carter has declared large areas of New York State and Michigan disaster areas, making them eligible for federal relief aid to combat hardships caused by bitter Arctic weather.. Reuter
    Reuter  -  37 words
  • 309 10 UPI DAMASCUS, Sun. UN Secretary General Kurt Waldheim new to Riyadh today (or talks with Saudi Arabian leaders on the third stop of his six nation, 10day Middle East tour aimed at getting peace negotiations reconvened. Mr. Waldheim held a three-hour meeting with guerilla
    UPI  -  309 words
  • 109 10 THE Public Works Department, in collaboration with an architectural firm Sim and Associates will soon begin construction of the Singapore High Commission Chancery-cum-staff apartments complex in Kuala Lumpur, for the Ministry of Foreign Affairs. The Chancery complex will be located at Jalan Pekellllng, Kuala Lumpur. The actual location
    109 words
  • Page 10 Advertisements
    • 288 10 1KB v n f y j* i i i i V t SEE PAGE 4 savours of Olde England Lunch or dine in a grill room that savours of Olde England with food just as savoury. The Stables an ideal place to combine business with pleasure. Cosy and private, with
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