The Business Times, 2 May 1977
1977-05-02
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The Business Times
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Title Section10 1977-05-02 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, MAY 2, 1977 50 CENTS10 words
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Article69 1977-05-02 1 AP OSLO, Sun. After the successful closure yesterday of the Ekollsk field (Ml well which blew out In the North Sea, Norway Is preparing for a new step In the development of its oil industry. Next week, five tugboats will pull the world's largest offshore drilling andAP - 69 words
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Article71 1977-05-02 1 Reuter PARIS, Sun. International regulations should be drawn up to govern the safety of offshore oil rigs, the 24-nation Organisation for Economic Cooperation and Development (OECD) recommended in a report today. Compiled before the giant spill from the Bravo oil rig in the North Sea, the reportReuter - 71 words
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Article74 1977-05-02 1 Reuter CANBERRA, Sun. Prime Minister Malcolm Fraser hinted mongly tonight that his government is close to deciding on the mining and export of uranium under stringent safeguards for peaceful purposes. In an electoral radio talk he emphasised that uranium exports under the most stringent and comprehensive safeguardsReuter - 74 words
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Article60 1977-05-02 1 Reuter JAKARTA, Sun. Indonesia will attend the Asian regional conference of the International Confederation of Free Trade Unions (ICFTU) to Singapore from May 3 to 12, a spokesman for the Indonesian Trade Unions Federation (FBSI) said today. The Indonesian delegation, led by FBSI chairman AgusReuter - 60 words
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Article57 1977-05-02 1 KUALA LUMPUR. Sun. Foreign Minister Tengku Ahmad Rithauddeen will visit Hanoi next month, Datuk Hussein Onn announced last night. The trip will mark the first visit by a Malaysian minister to Hanoi since the communist victory in Vietnam. Tengku Rithauddeen is expected to hold talks on bilateral57 words
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Article69 1977-05-02 1 AP TEL AVIV, Sun. A labour strike disrupted the schedule of El Al, the Israel national airline, causing a near riot by hundreds of stranded passengers today. El Al cancelled 10 flights to the United States and Europe after most of its 500 aircraft maintenance men, whoAP - 69 words
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Article81 1977-05-02 1 UPI BEIRUT, Sun. United States and Saudi Arabian relations might face a crisis to five years time if the Arab oil state falls to increase its oil production to meet the rise to the demand for oil, the influential daily newspaper An Nahar said today. The newspaperUPI - 81 words
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Article71 1977-05-02 1 Reuter NEW DELHI, Sun. The four constituents of India's new ruling party formally merged today and immediately received an unexpected boost when the breakaway Jagjlvan-led Congress for Democracy (CFD) also announced its decision to merge with them. The four parties are Prime Minister Morarji Desal's OrganisationReuter - 71 words
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Article53 1977-05-02 1 UPI ISLAMABAD, Sun. Britain has offered Pakistan a £4.2 million (5517.8 million) loan for a land reclamation project In Skid province, Government officials announced yesterday. The loan will come from British project aid funds and will be used to purchase bulldozers, tractors and other equipment, theUPI - 53 words
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Article43 1977-05-02 1 AP RAWALPINDI, Sun. Prime Minister Zulflkar All Bhutto and the Jailed leadership of the oppostlon Pakistan National Alliance (PNA) are near agreement on holding new national elections in order to end Pakistan's eight-week-old political crisis, opposition sources said today. APAP - 43 words
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Article112 1977-05-02 1 THE following list of stocks fives the 10 most traded in oa the Stock Exchange of Singapore Inst week. It givee the turnover in thousands of units, closing prices on Friday and the high and low for 1177. Ctapuy Tvmvi Prieaa Lew •900 Apr 10 1977 Central112 words
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LOCAL STOCK INDICES
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Article71 1977-05-02 1 Apr 26 Apr 26 Apr 27 Apr 29 Apr 29 ft B.T. Index 253.80 249.45 250.49 250.77 251.20 Industrials 245.56 243.93 244.28 242.96 342.59 Finance 421.76 42b. 66 420.35 430.17 419.61 Hotels 156.11 157.92 156.18 157.75 157.38 Properties 142.29 141.66 141.74 141.59 141.99 t Tins 107.10 107.10 167.10 106.4071 words
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Article76 1977-05-02 1 Apr* f Apr 11 Apr XI Apr 29 Apr 29 tt B.T. Index: 200.S3 190.02 197.90 190,44 190.00 208.7* 297.04 207.71 Industrials 207.83 900.00 Finance: 347.93 346.44 340.43 340.79 940.49 Hotels: 171.9* 171.99 171.90 171.99 172.14 Properties: 138.27 137.09 137.91 137.99 197.40 Tins: 109.92 100.71 109.28 108.28 108.87 t76 words
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Article1172 1977-05-02 1 REASON FOR BUILDING CHANGI AIRPORT MR. Lee Kuan Yew said yesterday that the government's decision to Invest 91.5 billion In the new Changl International airport Is to ensure that Singapore succeeds as an air junction. Speaking at the Singapore Airlines' 30th anniversary dinner last night,1,172 words
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558 1977-05-02 1 Reuter UPI. LONDON, Sun. The Sunday Times predicted today tense and perhaps stormy scenes could take place between US President Carter and West German Chancellor Helmut Schmidt at the London economic summit this weekend. The newspaper said Mr. Schmidt was disturbed at U8Reuter; UPI. - 558 words
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Article153 1977-05-02 1 Reuter JAKARTA, Bun. President Suharto tonight appealed to Indonesians to vote In tomorrow's general elections for a new Parliament and pledged to uphold democracy and ,constltutlonal rale. "Tour votes are valuable, and by casting them you will determine your own future." the President told his fellow-countrymenReuter - 153 words
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Article260 1977-05-02 1 NTUC Income has declared a reversionary bonus of $32 for every fl,OOO sum assured and a special additional bonus rate of 25 per cent of the vested bonus to all Its policyholders. Announcing this at the May Day Ratty held at the Conference Hall yesterday, the260 words
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Article106 1977-05-02 1 UPI LONDON, Son. Britain's governing Labour Party looks like taking a bee ting In local government ejections on May 5. Britons vote that day for local councils in Oreater London, six other metropolitan anas and all Knglish and Welsh Advance predictions are that the opposition Conservatives,UPI - 106 words
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350 1977-05-02 1 MR. J.Y.M. Pillay, chairmaa at SIA, last night outlined three factor* which will aflsct the future growth at the national airline. First is the scope of traffic rights available, secondly the ability to contain unit coots, and thirdly its success in350 words
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Article208 1977-05-02 1 THE 1ft.76 results of Oversea-Chinese Banking Corporation, which show profit rising by more than seven per cent, are way above its forecast. Against its interim forecast of maintained profit. It has managed to raise group net profit from *32.57 million to $34.95 million. The bank's208 words
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Article223 1977-05-02 1 Reuter HONGKONG, Sun. The Hongkong Shippers' Council said it registered a formal protest with the Far Eastern Freight Conference FEFC on. the FEFC announcement of a 12.5 per cent general rate Increase from July 1 on the Hongkong-Europe route, and demanded that the views and positionReuter - 223 words
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139 1977-05-02 1 Reuter KUALA LUMPUR. Sun. Malaysia's total export e*rning»~#rom timber ana timber products for 1976 are expected to reach M 52.5 billion, the Malaysian Timber Industry Board's timber trade review said. Exports in 1975 totalled 7.2 million cubic metres worth $1.5 billion. Exports ofReuter - 139 words
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Page 1 Advertisements
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Advertisement31 1977-05-02 1 r Ricoh 1 for plain paper copying Wywy Private Limited 30th Floor Hona Loom Buikttna Sinaoooro 1. SEE PAGE 5 Fpatuioa/Crw—P4 later Co. Nowa/ Owimi Nowa —P I Local Co Newi/31 words
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Advertisement99 1977-05-02 1 International trade? ACBC makes it easier. ACBC provides all the services required for successful trading on the international scene. From opening letters of credit, to export financing, to foreign exchange. Making it easier with a simple direct service. Not only to take care of the routine but indispensable day-to-day banking99 words
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Advertisement121 1977-05-02 1 ca Trust Sony for your video With customary vision and foresight Sony pioneered video equipment. Today, Sony is one of the world s foremost manufacturers of integrated video equipment. Research and experiments are continuously carried out to bring you the most advanced and sophisticated video components. TTSASQNT DXC-1200P (Colour video121 words
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Article591 1977-05-02 2 IS HAW PAR Brothers International's offer to buy back the preference shares, which came to the market with high hopes in 1973 but remained flat on their back for most of their existence, a genuinely altruistic gesture on the part of the Issuer? This is what Haw591 words
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REVIEWS
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Article, Illustration677 1977-05-02 2 A. DEMIDOV - The Bolshoi Theatre the traditional and the contemporary By A. DEMIDOV Novosti Press Agency IN 1976 the Bolshol Theatre celebrated Its 200 th birthday. Founded at the end of the 18th century, it did not win general recognition at once. Within Russia the pride of place was held by theNovosti Press Agency - 677 words
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881 1977-05-02 2 CKT - MUSIC By CKT EINSTEIN'S special theory of relativity, if practicable, makes a lot of things possible. Space and time are relative? What ho, then, we bring on a convention of composers like ho convention of composers ever. BRAHMS: This hors d'oeuvre Is horny. Qet881 words
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Article545 1977-05-02 3 NYT The Baltic Exchange, rhe History of a Unique Murket. By High BartyH:ng, Hutchinson Benham, 431 page*. ROM ITS humble origins •i rhe streets of the City of i.jndon over 500 years ago, Baltic Exchange has »lved to command an exilted t>osltlon at the centreNYT - 545 words
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Article, Illustration440 1977-05-02 3 BOOKS Industrial Review of Japan 1977, an,- annual in-depth report on the state of the Japanese economy; published by the Japan Economic Journal (Nlhon Keixai Shimbun) at Yen 3,500 or US$l2 overseas seam ail or US$l4 airmail; 148 pages. THE INDUSTRIAL Review Is440 words
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Article, Illustration1977 1977-05-02 3 HSUAN OWYANG - By HSUAN OWYANG MONDAY: Had lunch •Aith a banker from one of the leading oanks in New York. Topics of the conversation ranged from the nit look of South-east Asia to the money and foreign xchange markets In New York. The world nowadays is .Ist changing too1,977 words
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394 1977-05-02 3 NYT Marie Of The Whole Earth. By David Rack. MS ptra. Illustrated. ScribaersiUSSUM (Pa par back, UBCS.M). DAVID Rack smiles oat from Um back flap of Ha book like sense happy tat tnm the IHOa. AnJ, indeed, from ito titla onward, Muaic Of Um WholeNYT - 394 words
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Page 2 Advertisements
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Advertisement134 1977-05-02 2 We are unique. Equipped with the latest in technology and the most modern facilities in Singapore, we are able to provide first-class service to shipyards, shipowners and other marine, industrial and petro-chemical industries. Our professional expertise ensures completion of jobs in the shortest time possible and efficient co-ordination of various134 words
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Page 2 Miscellaneous
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Miscellaneous440 1977-05-02 2 I ■HE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on May 1 at Singapore airport. Maximum Temperature Associated Humidity Minimum Temperature Associated Humidity Hours of Sunshine Rainfall in millimetres Total rainfall for the month Total rainy days for the month RADIO TV JL JL JL/ JL v/440 words
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Page 3 Advertisements
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Advertisement213 1977-05-02 3 BIS Bronch Terminal System The successful on-line informaction system for thrifts Useful easy to operate cost effective successful. These words describe the on-line teller terminal systems Bunker Ramo has supplied to the thrift industry since 1961 Today 8T***** in mam offices and mini branches alike is improving opera tions for213 words
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887 1977-05-02 4 WITH the rising tide of protectionism round the world, the National Foreign Trade Council of the United States, a private, non-profit organisation of major American business enterprises, has come out strongly against this dangerous trend. In a recent statement issued in New York, it887 words
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Article, Illustration380 1977-05-02 4 SOH SIAM LOH - By SOH SIAM LOH SERVICE agencies like public relations and advertising, long in the business of goodwill promotions and campaigns, may soon launch into institutional advertising themselves. "The aim is not to seek more business," said Mr. Peter Bostock of Bur380 words
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Article, Illustration1524 1977-05-02 4 WONG WAI LIN - Corporate PR more than just image making By WONG WAI LIN PUBLIC relations, the image-making profession, suffers Itself from a range of Images, most of them unflattering. To many, it Is a window-dressing profession best used for organising press conferences at which to extoll the virtues of a company or1,524 words
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Article, Illustration512 1977-05-02 4 GERRARDO INCHAUSTI - By GERRARDO INCHAUSTI Reuter LACK of skilled manpower is threatening to upset Venezuela's rapid economic growth. Economists fear ambitious development programmes could be set back unless the government manages to build up Its own pool of skilled workers or secure foreign labour. Venezuela'sReuter - 512 words
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Page 4 Advertisements
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Advertisement133 1977-05-02 4 ÜBL L SOUND FOR THE a =£rsl l M Ic THIS NOW AT REDUCED PRICES! TrT M ss the best seller. rf I^' II tTiS 13,^ CONTROL MONITOR 3-WAY SPEAKER The famous original studio monitor that inspired the creation of the Century LI 00 a direct copy of the JBL133 words
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Advertisement20 1977-05-02 4 BI SIM SS I IMI S SINGAPORE'S NEW FINANCIAL DAILY MAKE SURE YOUGET YOUR COPY THE PAPER FOR TOP EXECUTIVES20 words
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Page 4 Miscellaneous
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Miscellaneous597 1977-05-02 4 TWO-IN-ONE CROSSWORD -'■M CRYPTIC PUZZLE ACROSS 4 Struggle to dissolve tablet (6) 7 Despair of reforming Les Hoope (4,4) 8 Jump In the water (6) 10 Spare weapon (5) 13 Painting garment? (4) 14 Property of Mrs Herschel (4) 15 The many men Mary misled (4) 16 Writing-instrument with soft597 words
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OVERSEAS
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619 1977-05-02 5 NON-ORIGINAL MEMBERS CAN CONTRIBUTE Reuter WASHINGTON, Sun. international Monetary Fund managing-director Johannes Wltteveen said the supplementary borrowing facility agreed by the Interim Commltte will be open-ended. Mr. Wltteveen told a press conference contributions to the fund will not be limited to Its original membersReuter - 619 words
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Article265 1977-05-02 5 Reuter BRUSSELS, Sun. Synthetic rubber consumption in Western Europe over the ten years through 1987. is expected to grow at 4.1 per cent, compared with 8.6 per cent over the period 1965-1973, estimates by the European section of the International Institute of Synthetic Rubber Producers (lISRP)Reuter - 265 words
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Article46 1977-05-02 5 Reuter JOHANNESBURG, Sun. Provisional working costs of South African gold mines rose about 22 per cent in the first quarter of 1977 over the same period last year and 11 per cent over the previous quarter, the Chamber of Mines said. —Reuter.Reuter - 46 words
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Article180 1977-05-02 5 Why Bundesbank can't help the Reuter FRANKFURT, Sun. The Bundesbank has little freedom to Intervene on the foreign exchange markets to stem the present weakness of the dollar because of the mark's position at the bottom of the European Joint float, the director of the Bundesbank's foreign department, Franz Scholl,Reuter - 180 words
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281 1977-05-02 5 Reuter NEW YORK. Sun. The Bank of America ia actively examining increasing ita trade financing inatead of term loans to maintain oversea* lending but reduce ita exposure, the bank's senior economist, Eric Hay den said. He told a press briefing that EuropeanReuter - 281 words
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Article192 1977-05-02 5 Reuter OSLO, Sun. Norway 's expected overall 1977 balance of payments deficit is now put at 18.8 billion crowns, compared with an earlier estimate of 13.2 billion and last year's 20.2 billion shortfall, due to lower exports of oil and traditional goods, the government said. In itsReuter - 192 words
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INTERNATIONAL COMPANY NEWS
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Article268 1977-05-02 5 Reuter HONGKONG, Sun. Orient Overseas Container (Holdings) has reported a record net operating profit of HK570.34 million for 1976 compared with $54.60 million In 1975. Consolidated net profit, which Includes a profit of $33.31 million ($78.90 million) from the sales of ships, however, dipped toReuter - 268 words
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161 1977-05-02 5 Reuter LONDON, Sun. Gill and Duffs said It plans a one-for-seven rights Issue at 185 pence to raise some £7.31 million, with the new shares not ranking for 1976 final dividend. The company said It made a pre-tax profit of €12.63 million on turnoverReuter - 161 words
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167 1977-05-02 5 UPI TOKYO. Sun. Nippon Steel Corp (NSC) announced an eight to nine per cent rise in its domestic prices for four major steel items, effective from contracts for June and July shipments. The biggest steel mill in Japan said the upward steel priceUPI - 167 words
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Article100 1977-05-02 5 Reuter ROTTERDAM. Sun.. Rijn-Schelde-Verolme estimates the amount the Dutch state is prepared to make available to strengthen the company's capital at 150 million guilders, executive board chairman Mr. Allerd Stlkker said. Talks with the Economics Ministry are expected to end soon, he told the an- nual meeting, but didReuter - 100 words
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Article104 1977-05-02 5 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 April 23 rose to 825.1 billion yen from 816.1 billion a week before. The rise resulted from substantialReuter - 104 words
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Article56 1977-05-02 5 Reuter AMSTERDAM. Sun. Algemene Bank Nederland (NV (ABN) said it will issue one new share for every 10 already held at 250 guilders per share ranking for dividend from 1977. ABN shares closed at 325 guilders on the Amsterdam bourse, today. It had an issued share capital ofReuter - 56 words
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Article46 1977-05-02 5 TOKYO,Sun.— Japan Steel Works (Nihon Seikosho) said it will float a US$l5 million seven year Eurobond An May 19. Lead manager, Nomura Europe said the bond is expected to have a coupon of around per cent. Final terms are expected on May 10.46 words
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Article190 1977-05-02 5 Reuter TURIN, Sun. Fiat SPA group turnover rose 17 per cent above year-ago levels in the first four months of this year, chairman Mr. Giovanni Agnelli told shareholders on Saturday, but gave no figures. Referring to the slump in Italian car sales inReuter - 190 words
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128 1977-05-02 5 Reuter MUNICH, Sun. The Bayerlsche Landesbank Girozentrale and the Hamburgische Landesbank Girozentrale have taken a 50 per cent stake each in the Asien Pazifik Bank AG. Hamburg, effective from April 1, a Bayerische Landesbank spokesman said. They increased their participation in the bank fromReuter - 128 words
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Article140 1977-05-02 5 Reuter WASHINGTON, Sun The Securities and Exchange Commission issued proposed changes in its reporting requirements which it said will lead to more uniform disclosure of information. The proposals will also bring the SEC requirements in line with those issued by the Financial Accounting Standard DecemberReuter - 140 words
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112 1977-05-02 5 Reutr CHICAGO, Sun. Zenith Radio and Sony have entered a settlement agreement that will dismiss Sony from the anti-trust and anti-dumping suit filed by Zenith in the US district court in Philadelphia in 1974. Terms of the settlement were not disclosed. Zenith said itReutr - 112 words
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Page 5 Advertisements
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Advertisement224 1977-05-02 5 Wang Laboratories Inc., U.S.A. A Growing International Family Sales and service centres in Malaysia and Singapore Wang offers on-the-spot sales and service in Malaysia and Singapore, as in its extensive network of over 150 offices throughout the U.S and 60 foreign countries. The Wang Systems Sales and Support Organisation, one224 words
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COMPANY NEWS
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Article624 1977-05-02 6 A drop in its share of the home market was the main cause of the deteriorating situation at Raleigh Cycles (Malaysia) last year. For the year ended Dec 31, 1976, pre-tax profit plunged 59.4 per cent to M 5357.897 against the previous year's fall624 words
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150 1977-05-02 6 BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 4, 1971 100) 1*77 Weekended POINT HIGH LOW INDUSTRIAL GROUP 22/4 29/4 CHANGE 210 59 145 90 Automotive 187.33 1M.S0 2.83 496 57 362 92 Banks. Insurance, Fi--11.04 nance and Trustees 373 96 302.92 164 62 135 80 Chemicals, Rubber Products Refining150 words
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Article567 1977-05-02 6 Curient Ex Date Total for Total for payment Date payable the year previous year Lingui 10% Apr 5 May 5 10% 10% Sentosa Plywood 10%TE Apr 4 May 5 10%TE 6%TE Krnong Tin 15%I Apr 14 May 6 15%I 50% Genting Highlands 7.5%TE Apr 5 May 7 12.5%TE567 words
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136 1977-05-02 6 CHEMICAL Industries (Far East) has taken a 51 per cent stake In HardmanChemical Industries, a Joint venture with HardmanChemicals of Australia. The company says in a letter to the Stock Exchange of Singapore that this was effected by a subscription of 306,000 shares of136 words
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COMPANY MEETINGS
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18 1977-05-02 6 THE following company meetings are due: May 4,12 noon, 4 Jalan Tendang, Petallng Jaya.18 words
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Article19 1977-05-02 6 4, 4 p.m.. Registered Office, Suites 4022-4025, President House, 54 A, Jalan Imbi. Kuala Lumpur.19 words
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Article14 1977-05-02 6 May 10, 2.15 p.m.. Registered Office, 10 Jalan Tandang, Petallng Jaya.14 words
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Article13 1977-05-02 6 May 12, 12 noon, Bastion House. 8 Jalan Kota, Malacca.13 words
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Article15 1977-05-02 6 May 12, 12 noon, at the Shangri-La Hotel, 22 Orange Grove Road, Singapore.15 words
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17 1977-05-02 6 May 14, 11.30 a.m.. Registered Office. DBS Building, Shenton Way, Singapore 1.17 words
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Article20 1977-05-02 6 May 14. 12 noon. Registered Office. 2nd Floor, Industrial Commercial Bank Building, No. 2 Shenton Way, Singapore 1.20 words
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Article16 1977-05-02 6 May 16, 11 a.m., at the Duke Room. King's Hotel, Havelock Road. Singapore.16 words
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Article19 1977-05-02 6 May 21. 10 a.m. Foh Chong Building, Room 2, 6th Floor, Jalan Ibrahim, Johore Bahru.19 words
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Article17 1977-05-02 6 May 30. 2.30 p.m.. Straits Trading Building, Leboh Pasar Besar, Kuala Lumpur.17 words
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Article15 1977-05-02 6 May 31, 12 noon, at DBS Theatrettc, DBS Building. Shenton Way, Singapore 1.15 words
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Article15 1977-05-02 6 Highland Lowland Bhd.: May 31. 12 noon, at the Anggerek Room. Hotel Equatorial, Kuala Lumpur.15 words
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LATEST RESULTS
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Article77 1977-05-02 6 (Slnga- pore) Audited group pretax profit $2.14 million ($2.82 million) on turnover of $6.02 million ($6.62 million) for the year ended Dec 31. 1976. Depreciation $761,920 ($717,920) and taxation $750,000 ($2.10 million). Parent company pre-tax profit $1.96 million ($2.72 million) on turnover $5.80 million ($6.49 million). Depreciation77 words
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Article2371 1977-05-02 6 If77 Hick Low Compaay Last Sale WMk ♦«rGr'a Div Div Cvr Gr'a TO Net P/E Week Vol COM) Week Hick Low SECTION ONE INDUSTRIALS 146 133 204 76 136 127 204 58 Acma Acma A Alcom Allied Choc 141 129 204 65 -3 ♦1 +52,371 words
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Page 6 Advertisements
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Advertisement391 1977-05-02 6 THE GREAT BOOKS of the 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 library provides the whole family with an Inexhaustible fund of entertainment and a prime source of selfimprovement. The Great Books391 words
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Article1083 1977-05-02 7 NEW YORK: Blue chip* and glamour stocks were weak, but the boarder market closed mostly higher In modest trading on Friday. Analysts said while the market was encouraged by a 1.4 per cent Jump In the March Index of U8 leading economic Indicators, announced at the opening renewed1,083 words
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Article309 1977-05-02 7 ZURICH: The market generally firmed slightly In selectively active trade on Friday. Swissair rose after March results. Malor banks ruled Irregular and Bankverein and Volksbaak virtually Ignored results. Krcditan-Stah bearer fell 85 francs to 2,150 against the previous day's 2.235 closing. Its registered stock retreating three francs to 407309 words
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Article348 1977-05-02 7 PARIS: The market was lower on Friday, led by electrlcais, amid uncertainty ahead of a television broadcast by President Valery Discard D'Estalng later today, dealers said. The President Is expected to speak about the current French political situation following the vote of confidence accorded to the government by parliament348 words
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Article191 1977-05-02 7 BRUSSELS: The market was mixed to higher on Friday, In trading that was generally quieter ahead of the weekened, although Petroflna was again the centre of very active trading. The continuing Kkoflsk problems saw Petroflna open a shade east sr. and clow more than three per cent down after191 words
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Article306 1977-05-02 7 TORONTO: The market closed higher In light trading with advances outpacing declines 246 to 164 on Friday. rmmmMmm Pacific IIVMtMSU added vt to 18* after reporting improved first quarter results, Da Pont of Canada advanced ft to 13* on Increased first quarter rflt, Computet 9yttenia gained to six on306 words
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Article324 1977-05-02 7 FRANKFURT: Most shares rose, led up by autos on the contlnulng good domesUc car sales and export hopes, dealers said on Friday. Dalnta- rose 7.50 marks, BMW four and VW 2.40. Steels also row after Hocach announced a two mark dividend for 1976. HMsch rose 3.90, Thyasen 2.20 and324 words
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Article136 1977-05-02 7 MILAN: Stock* shoved modest gains In slightly more active trading, bourse sources said on Friday 8a is Viacoea led Industrials higher. Moatodisoa. Generate Immobiliare, Pirelli SPA and Aaaiearasieal Geaerali also firmed. Pirelli C was unchanged. Bonds were moderately higher. apr a Lire ♦A 240 unch Aaaoc On ***** 300136 words
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Article294 1977-05-02 7 AMSTERDAM: The market firmed in more active trading on Friday. Heecoveaa firmed 1.50 guilders In higher Dutch Internationals after announcing It proposes returning to dividend although Royal Dutch led gains to close 3.40 up. Shares firmed elsewhere with Isolated exceptions Oanwm fell 1.00 In transports while Amfas was 1.80294 words
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Article391 1977-05-02 7 JOHANNESBURG: Gold shares traded basically firm in moderate trade In line with European bullion Indications, dealers said on Friday. Financial minings were steady, with Aaflee recovering an earlier loss of three cents to rule unchanged at 375 following a 380 peak. De Beers rose two cents to 412 and391 words
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Article1401 1977-05-02 7 On April 29 TRADING In options on the Chicago Board Options Exchange came to 71,975 contracts on Friday compared with 81,980 contracts on Thursday. OPTION OCT JAN APR STOCK Alcoa SO 71/4 UNTRD 01/3 571/0 Alcoa 80 1 11/9 31/3 571/* Am Tel 55 UNTRD NOL NOL1,401 words
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Article445 1977-05-02 7 TOKYO: —The half-day session closed slightly higher on buying support bv major investment trusts in blue chips, dealers said on Saturdav. The Dow Jones average gained 3.34 to 5.102.39 with volume 100 million shares. The New Index closed at 380.87. up 0.74. Investors selected blue chips In anticipation of445 words
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Article64 1977-05-02 7 FINANCIAL TIMES INDUSTRIALS Friday 432.8 Thursday 428.2 Week ago 422.3 DOW JONES AVERAGE INDUSTRIALS Friday 926.90 Thursday SZ'H Week ago WT07 LONDON DOLLAR PREMIUM Friday 121 Vfc to 121H Thursday 121 Vi to 122 H.K. HANG SENG Friday 441.94 Thursday 442.53 Week ago 448.74 SYDNEY INDUSTRIALS FTMay 353.26 Thursday64 words
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Article143 1977-05-02 7 TRADING on the NYSE opened last Monday with a Jarring decline Its worst of 1977, as measured by the Dow Jones industrials and then spent the rest of last week regaining Its equilibrium. This took the blue-chip Dow to a 15-month closing low at 914.60. That decline143 words
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BONDS
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Article89 1977-05-02 7 GENEVA, Sun. Stock--holm County Council plans to float a 50 million franc 15 year 5* per cent loan on the Swiss market from May 6 to 13, Banque Gutzwlller Kurz Bungener said. The issue price will be fixed later. The loan will have a sinking fund which89 words
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Article65 1977-05-02 7 LONDON, Sun. The Kingdom of Jordan has raised a US$3O million sixyear Eurocurrency loan, its first Euromarket borrowing, bankers said. The facility, arranged by a banking group led by Citicorp International, carries a spread of IVi per cent over London interbank offered rates. The Jordanian state airline65 words
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Article94 1977-05-02 7 IXJVDON, Sun. Standard Chartered Bank said It plans to offer US$5O million of seven year floating rate capital notes in the Eurobond market. They will bear interest 4 per cent per annum above tne six montns London interbank offered rate subject to a minimum of 6% per94 words
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Article50 1977-05-02 7 DUESSELDORF, Sun. Nordic Investment Bank of Helsinki plans a USS4Q million seven year Eurobond. probably at 7%« per cent, banking sources said. Conditions will be finalised next week In Finland, they added. Lead manager Is Credit Suisse White Weld and Westdeutsche Landesbank Girozentrale is among the consortium banks.50 words
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Article64 1977-05-02 7 Reuter LONDON. Sun The oilexporting state of Qatar plans to raise a US$35O million Eurocurrency loan in a syndication operation set for June, bankers said. The seven-year facility, commanding a spread of one percentage point over London Eurodollar Interbank offered rates, will be used to develop the state's petroleum,Reuter - 64 words
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Article46 1977-05-02 7 FRANKFURT, Sun. The World Bank's 400 million mark 6 per cent 10-year Eurobond was priced at 99 Vt per cent, lead manager Deutsche Bank said. Its 100 million mark 6 V» per cent eight year private placement was also priced at 99 per cent.46 words
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Advertisement420 1977-05-02 7 The Syntopicon now makes It possible for anyone to "ask" great thinkers such as Plato, Aristotle, Tolstoy, and Freud about love, art, democracy, Justice or almost any topic conceived by the human mind. The Syntopicon can guide your hand to th& proper volume. Your eyes are directed to the right420 words
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COMMODITY REPORTS AND PRICES
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Article260 1977-05-02 8 LONDON. Sun. Terminal prices drifted lower during Friday afternoon to close easier, mostly 1.20 pence (July 53.30 pence seller) to 0.90 pence per kilo down from Thursday night. Volume totalled 152 lots at 15 tonnes with no additional options posted during the afternoon. Clfs closed about steady. Spot260 words
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Article112 1977-05-02 8 THE Straits tin price In Penang on Saturday fell M OO to $1,450.00 per plcul on an official offering up 35 tonnes to 265 tonnes. In LONDON on Friday, tin fell by £10 for Cash and £15 for Three Months In both contracts. Initial steadiness prompted small scale112 words
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Article290 1977-05-02 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY. Coconut Oil: Bulk $105 sellers, old drum SI 10 sellers, new drum SIIS sellers Copra Mixed (loose) UK/Cont. 170 ouyers. Pepper Muntok ASTA white f.o.b. 100* NLW $397', sellers Sarawak white fob 98% NLW sellers. Sarawak special290 words
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Article125 1977-05-02 8 THE following Palm Otl prices were quoted In London on Friday The prices are ell Rotterdam and are quoted In US dollar per ton unless otherwise stated. Friday l*rev Malaysia 5% f fa bulk 642 Hum May/Jly 665 sir Sumatra 5% Apl unrh 665 pd May 670 nom125 words
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Article498 1977-05-02 8 IN the Singapore gold market on Saturday, the kllobar opened at SSI 1,790 and was firmly bidden up to 5511,835 before closing at $11,820. In the loco London gold, the market opened at U*****.80/148.20 and under strong buying Interest, the market rose sharply to a high of $148.50/ 148.80498 words
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Article263 1977-05-02 8 LONDON, Sun. Copper wire bars finished on Friday with losses of £1.50 for Cash and £4 for Three Months. The market picked up following a steadier than expected opening at New York with pre-weekend covering taking Three Months up to £815 per tonne. Marginal profittaking developed at the higher263 words
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Article40 1977-05-02 8 LONDON. Sun. Lead rose by £4 for Cash and £2 for Three Months on Friday. Modest end week cover ing held the market around the £392 level for Three Months although the turnover of 4700 tonnes was mainly carries.40 words
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Article385 1977-05-02 8 LONDON, Sun. Prices closed on Friday with losses against Thursday night of £115 to £35 per tonne. Volume was 3822 lots including 34 options and the market tone about steady. Futures fluctuated widely during the afternoon under the Influence of local jobber trading and In unison with New York385 words
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Article193 1977-05-02 8 BANGKOK, Sun. The rice market was fairly active during last week with business concluded In both the Government and the private sectors, trade source said. An agreement was signed the week before last with Japan for 25,000 tonnes glutinous rice long grain 10 per cent on a government-to-government basis.193 words
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Article39 1977-05-02 8 LONDON, Sun. Zinc closed £0.25 up for Cash and £0.75 down for Three Months on Friday. The market was well maintained in sympathy with the general trend although trading was routine. Sales of 1500 tonnes were mainly carries.39 words
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Article179 1977-05-02 8 LONDON, Sun. Silver was unchanged to 2.0 pence per troy ounce lower on Friday. The recovering trend at New York gave the market fresh Impetus with covering and some fresh buying mostly erasing earlier losses. Three Months traded up to 281.5 pence per troy ounce before slipping back under179 words
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960 1977-05-02 8 AMID fresh and controversial developments both at home and abroad, commodity prices were generally en the decline at the Singapore produce market last week. The biggest single factor affecting market sentiment was the somewhat sudden change in the sup-ply-demand picture of most commodities.960 words
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Article188 1977-05-02 8 LONDON, Sun. Terminal sugar held fully steady on weekend covering for much of Friday afternoon but closed quiet and modestly down from the day's highs on late session Jobber profit-taking. Oalns from Thursday night ranged from £4.20 (near Aug at £143.15) to £1.40 per tonne. Lots traded totalled 1,822188 words
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Article212 1977-05-02 8 CHICAGO, Sun. Soybean futures finished the session on Friday with limit gains of 45 cents a bushel in old crop months and gains of 34 to 26 cents in new crop months. The failure of expected selling to appear in the morning generated shortcovering and speculative buying which encountered212 words
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Article125 1977-05-02 8 CHICAGO. Sun. Wheat futures lost small early gains on Friday to finish the session at the day's lows with losses of one to 4*4 cents a bushel. The early advance came on speculative buying in response to the strength in soybean futures but prices backed down after buying interest125 words
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MONEY AND EXCHANGES
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Article194 1977-05-02 8 THE US dollar reversed Its upward trend last week In the forex market following unfavourable news for the unit. It started off weaker at the $2.4640-45 level following the Carter Administration's 1.4 per cent upward revision of Its Inflation forecast. A record US trade deficit of $2.39 billion compared194 words
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Article287 1977-05-02 8 Asian rates RATES opened firmed early last week 1/16 per cent up from previous Friday closing. Strong taking interests were shown In shorter periods up to three months. Weekly Fed figures showed Ml down by 300 M and M 2 by 900 M. Short dates were firmer and the Fed287 words
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Article330 1977-05-02 8 CONTRARY to the general market expectation of a tight money situation (following the latest bond issue), an easy trend prevailed In the earlier part of last week. However, for the rest of the week, a significant firming up was seen in the domestic money market as interbank rates330 words
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Article60 1977-05-02 8 Minimum lending rates (in ACBC 6*^ First Chicago 6*4 Algemene Bank 6*4 Bangkok Bank 7 Citibank 6 X HSBC 7 Bank of America 6*» Bank of China 7 Bank of Tokyo Bank Negara Indonesia 7 Indosuez 6*4 Malayan Banking 6*4 Mitsui Bank 6 X OCBC 6*4 OUB 6'4 Chartered Bank60 words
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Article256 1977-05-02 8 LONDON. Sun. Pressure In international currency markets on Friday threatened to disrupt the European Joint float, as further speculative demand built in the Dutch guilder ahead of the weekend. The dollar closed weaker in leading centres, reflecting demand for strong European currencies and a growing market feeling that countries256 words
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Article378 1977-05-02 8 ZURICH. Sun. The previous Friday's upward revision of the estimated 1977 inflation rate in the US by 1.4 per cent to 6.7 per cent depressed the dollar early last week. The US currency lost further ground when, the record trade deficit of $2.39 billion was published on Wednesday. The378 words
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Article109 1977-05-02 8 Euro rates LONDON. Sun. Shortdate Eurodollar deposit rates closed higher on Friday while periods were unchanged from openings after quiet pre-weekend conditions, dealers said. Time deposits closed an-« changed from openings after minimal rate movements throughout the day. Light rollover require- ments and lack of prime name interest made for109 words
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Article62 1977-05-02 8 O/N rates last week were erratic, averaging at the 5 per cent level with some business dealt at 10 per rent on Tuesday Term rnfes firmed slight- ly towards the weekend. In a thin market, the one. two and three months closed at 4 5/16. 4 3/16. 462 words
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Article301 1977-05-02 8 NEW YORK. Sun. The dollar closed weaker on Friday tnan Thursday night against major currencies except the yen after an active day marked by a sharp rise in the guilder, dealers said. The dollar's weakness stems largely from anticipation the economic summit on May 7 and 8 in301 words
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Article32 1977-05-02 8 FRANKFURT exchanges closing quotes on April 29 US 2.;»37/43 Can 2.2485/95 UK 4.048/053 Neth 96.18/22 Switz 93.60/63 Italy 2.655/660 France 47.55/60 Japan 0.8460/75 Belg com 6.545/550 Belg fin 6.52/53 Norw 44.70/7532 words
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Article39 1977-05-02 8 FOR the week ended Friday April 29. the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND 4% to 4%% GENERAL FUNDS: to 4% Movements of funr!s totalled $477 million.39 words
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Advertisement193 1977-05-02 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: how to create and project the right image193 words
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Article, Illustration1510 1977-05-02 9 TONY PAWSON - ARE ENGLISH PITCHES DOPED? By TONY PAWSON LONDON, Sun. If Jeff Thomson' 3 suspect shoulder takes the strain and Bob Willis finds his rhythm, the coming Tests may still ring with the challenge of fast bowlers. But will our pitches draw their sting as1,510 words
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Article918 1977-05-02 9 IT IS a moot point whether there is any ?n»at rejoicing In the Rules of Golf Committee over a sinner who repenteth, but on the offchance of spreading a little happiness around I gladly recant my previous heresies. Like most people who open918 words
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Article, Illustration566 1977-05-02 9 A FORBES and R.J. Dawson of Warren Golf Club edged Francis Chu and Andy Choo of SICC on a countback to win the SICC Open Day tournament at New Course yesterday. Forbes, handicap nine, and Dawson, handicap 13, registered 43 points in the "A" division of566 words
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1067 1977-05-02 9 AP LONDON, Sun. Liverpool beat Ipswich 2-1 yesterday and moved closer to the English soccer League championship. They also narrowed the odds on their chances of becoming the first club In history to win the big three: League championship. European Cup and English FA Cup.AP - 1,067 words
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Article75 1977-05-02 9 PARIS, Sun. Another small field is in prospect for Longchamp's second classic of the season, today's R>ule D'Essal Des Pouliches (French 1,000 Guineas). Only eight entrants were left at the second last forfeit stage, with Mr Robert Sangster's Durtal, French-bred but with a brilliant career in England75 words
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Article879 1977-05-02 9 The Observer IF passion is best understood when It is in decline, now Is a good time to look at Scotland's love affair with professional football. The helpless infatuation of earlier years is now only a flicker in the memory of the turnstile attendants. CrowdsThe Observer - 879 words
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Advertisement304 1977-05-02 9 w > X $125/ vh while stocks last! THE TIMES ATLAS of CHINA The Times Atlas of China is far more than a collection of detailed, up-to-date maps. It is an informative, gerieral guide to modern China the land itself, and the economy and peoples it sustains. The Atlas contains304 words
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695 1977-05-02 10 AP WASHINGTON, Sun. President Carter will meet in London with leaders of England, France and West Germany In "a very private meeting" after the economic summit next weekend to talk about political matters related to Berlin, the White House said yesterday. The meetingAP - 695 words
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Article, Illustration368 1977-05-02 10 THE upturn in the printing and allied industries in Singapore may be more advanced than generally thought if the "unexpected" level of success of a recent trade show is any guide. The US regional trade centre, which held a weeklong exhibition of368 words
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300 1977-05-02 10 SINGAPORE has now reached a situation where its economic planners have to make a crucial choice. Do they want rapid economic growth with Its battery of social problems or moderate growth with less social problems? This questions was posed by sociology lecturer, Dr.300 words
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Article121 1977-05-02 10 UPI WASHINGTON, Sun. Australia and the United B<ates are negotiating an agreement on coal research and development which should be completed soon, Australian Deputy Minister J.D. Anthony said yesterday. Mr Anthony sakl his talks during the week with the Nuclear Regulatory Commission and the Energy Research andUPI - 121 words
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Article88 1977-05-02 10 Reuter KUALA LUMPUR, Sun. Datuk Harun Idrls, the former Mentrl Besar of Selangor, Has been given his first political Job In the ruling United Malay National Organisation (Umno) since he lost all his government and political appointments last year, an Umnd official said here today. TheReuter - 88 words
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159 1977-05-02 10 UPI MANILA, Sun. A sharp decline in sugar production in the Philippines is expected In the crop year 1976/77 just ended, a report of the National Federation of Sugarcane Planters (NFSP) published today said. Reports so far received from 17 of the country'sUPI - 159 words
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305 1977-05-02 10 A SPECIAL container packing system developed by an international forwarding company to reduce export costs and expedite the presentation of products In the marketplace was used for the first time In Singapore to despatch a consignment of garments to Europe aboard the ScanDutch container305 words
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863 1977-05-02 10 IT MUST BE A TRIPARTITE ATTEMPT GREATER national efforts are demanded from government, management and labour, If Singapore Is to overcome the current gloomy global economic situation. This was the gist of the speech given by the Minister for Labour, Mr.863 words
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Article180 1977-05-02 10 THE trade union movement in Singapore needs to Increase its membership, strengthen its organisation and diversify its activities to offer responsible and firm leadership to the working people and their families whom it represents. This was voiced by the president of the National Trades Union Congress,180 words
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468 1977-05-02 10 Reuter MANILA, Sun. The Philippine Government and Islamic Conference representatives today confirmed the breakdown of the 10-day long peace talks on the southern Muslim minority rebellion, blaming each other for the Impasse but saying the ceasefire would continue meanwhile. Separate news conferences called by bothReuter - 468 words
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Article145 1977-05-02 10 Reuter HONGKONG, Sun. Hongkong's visible trade deficit widened sharply In March to HKSB43 million (***** million) from a revised $465 million deficit In February and a $240 million shortfall In March 1976, provisional census and statistics department figures show. The department originally reported a $466 millionReuter - 145 words
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132 1977-05-02 10 UPI GARDEN CITY (Long Island), Sun. A New York man involved in organised crime gambling operations says he plotted with two other men to assassinate President Marcos for the Central Intelligence Agency In 1972, according to today's Newsday. The Long IslandUPI - 132 words
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Article83 1977-05-02 10 THE Bahralnl Minister for Foreign Affairs, Shaikh Mohamed bin Mubarak AlKhalifa, arrives in Singapore today for a fourday official visit. He will be accompanied by Mr. Habib Qasslm, Minister of Commerce and Agriculture and four senior officials. During the visit, the Bahralnl Foreign Minister will call83 words
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214 1977-05-02 10 UPI WASHINGTON. Bun. US Seaate Democratic leader Robert Byrd said yesterday the Administration should move Caster la trying to establish fall tHaismstic relations with "I think it Is very Important that we be alert to every possibility of normaliaing relation! with China," heUPI - 214 words
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306 1977-05-02 10 UPI TOKYO. Bun. China's National Peoples Congress will be called together "in the second half of this I year" to formally install a Premier and a new Cabinet, an authoritative Chinese < official said yesterday. He also described ousted Vice Premier Ten* HsiaoSig asUPI - 306 words
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148 1977-05-02 10 Reuter LONDON, Sun. The British government is waiting to see whether Japan will respond to calls for it to boost its Imports of manufactured goods, government sources said. Britain and European governments have warned Tokyo that Japan must be prepared to share the deficitReuter - 148 words
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Article593 1977-05-02 10 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKO SAS SK097 0640 CPH/THR/BKK MAS MH682 0810 KCH CPA CX710 1000 HLP SIA SQ211 1015 HLP GIA GA980 1030 HLP THAI TG423 1035 BKK OIA GA908 1100 MES PAL PR501 1115 MNL SIA SQ240 1140 MES593 words
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Advertisement105 1977-05-02 10 i •V v:> j And IBS are just the people who can do you work out the most beneficial ways a the job. IBS experts are always ready to discuss any aspect of your finance bank can give you assistance. So if you are looking for financing, or any problems105 words
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