The Business Times, 29 August 1977
1977-08-29
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The Business Times
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Title Section10 1977-08-29 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY. AUGUST 29. 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article62 1977-08-29 1 UPI BANGKOK, Sun. Tungsten, Thailand's second largest export metal, is expected to earn US$3O million (5573.5 million) this year, a senior mining official said today. Mr. Subin Khoeprommalya, assistant director of the Mining Industry Centre, said that in the first five months of this year, Thailand exported moreUPI - 62 words
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Article72 1977-08-29 1 AP STOCKHOLM, Sun. A decision to devalue the Swedish kroner by about 10 per cent Is expected to be officially announced before banks open tomorrow morning. Members of the Central Bank board, who held an extraordinary meeting today to formalise the decision no longer bothered to denyAP - 72 words
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Article74 1977-08-29 1 AFP KUALA LUMPUR, Sun. Malaysian Airline System (MAS) confirmed over the weekend that it was discussijig with Singapore Airlines on the leasing of MAS' second DC-10 aircraft for SlA's once weekly services between Singapore and Auckland. MAS, in a statement said the aircraft would be delivered to MASAFP - 74 words
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Article103 1977-08-29 1 AFP NEW DELHI, Sun. India's foreign exchange reserves continue to soar by 8,970 million rupees (about 552.4 billion) between the end of March and July 22 and the government is hard put to find ways to effectively and quickly use the reserves, Samachar News Agency reported today.AFP - 103 words
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Article71 1977-08-29 1 AFP KUALA LUMPUR, Sun. Malaysia would have a brighter economic growth even though foreign Investment was not very encouraging due to the present world economic situation, the Deputy Prime Minister, Dr Mahathir Mohamad, said today. Malaysia, he said, recorded an all-time high trade surplus of M$ 1,537 millionAFP - 71 words
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Article58 1977-08-29 1 UPI TOKYO, Sun. Japan's major steel makers have agreed to an average of about 20 per cent Increase in the price of iron ore supplied by Australia, the Mainlchl Shtmbun reported today. Quoting industry sources, Malnichl said the new price of Australian iron ore will be US$l6.3UPI - 58 words
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Article61 1977-08-29 1 UPI BANGKOK, Sun. Siam Kraft, a US-backed paper company, has filed an appeal against court orders for its seizure over non-payment of customs duties, company officials said over the weekend. Thai courts on Friday ordered the company's seizure after its failure to pay US$32.B million (SsBo million)UPI - 61 words
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Article74 1977-08-29 1 Reuter CANBERRA, Sun. Prime Minister Malcolm Fraser said today his government's controversial decision to lift a four-year ban on uranium mining was made with the interests of the rest of the world in mind. In a radio and television address, Mr. Fraser said making available Australia's vast suppliesReuter - 74 words
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Article59 1977-08-29 1 AP TOKYO, Sun. Ninety per cent of the Japanese people think of themselves as middle-class, according to a survey by the Prime Minister's Office published today. Of the 8,220 who responded, 59 per cent said they belonged to the middle class, 23 per cent the lower middle classAP - 59 words
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Article113 1977-08-29 1 THE following list of stocks gives the 10 most 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 1977. Company Turnover Prices High Low 000 Aug 26 1*77113 words
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LOCAL STOCK INDICES
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Article68 1977-08-29 1 tt Aug 22 Aug 23 Aug 24 Au« 2S Aug 2> BT Index: 407.17 406.55 410.77 416.08 427.96 Industrials: 265.67 264.85 265.76 267.24 267.10 Finance: 444.01 442.87 442.11 442.49 453.71 Hotels: 172.80 171.7® 171.68 172.83 172.62 Properties: 167.57 168.12 168.88 170.53 171.54 Tins: 126.02 128 85 132.85 134.23 134.9068 words
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Article85 1977-08-29 1 Aug 22 Aug 23 Aug U Aug 25 Aug 26 tt BT Index: 419.79 420.08 439.67 451.40 474.80 294-36 295.26 383.83 397.17 Industrials: 294.38 293.68 293.35 g Finance: 382.08 382.27 381.23 Hotels: 178.15 178.22 176.07 176.07 176.07 158.24 157.94 t Properties: 155.32 153.90 157.54 Tins: 131.38 135.09 138.70 130.9585 words
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Article1038 1977-08-29 1 QUEK PECK LIM - RIPPLE EFFECT OF THE PROJECT »r QUEK PECK LIM PROBPECTB for employment in the next 10 years are going to depend as much upon government expenditure as upon prevailing international economic conditions. Much of the government impetus will come from the development of the new1,038 words
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Article122 1977-08-29 1 BONN, Sun. Chancellor Helmut Schmidt intends to disclose government measures to aid West Germany's sluggish economy in a speech to the Budestag on Sept IS, a government spokesman said. The final shape of the package will be decided by the Cabinet at Its regular session122 words
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471 1977-08-29 1 Washington Star WASHINGTON, Sun. West Germany and Japan will soon announce ambitious new plans to spur faster growth In their domestic economies, with the objective of easing international monetary tensions, according to US officials. "We expect them to take significant additional fiscalWashington Star - 471 words
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Article310 1977-08-29 1 AP TOKYO, Sun. China, acknowledging problems In Its economic management, yesterday urged workers to economise and Increase production because "enormous funds" were needed to realise goals set by Chairman Hua Kuo-feng. The call to "Increase accumulation (or the state" followed last week's announcement of pragmatic policyAP - 310 words
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252 1977-08-29 1 ABU DHABI, Sun. Foreign oil companies with exploration rights in the United Arab Emirates (UAE) would lose their concessions If they did not begin searching for oil. Oil Minister Mana Said AlOteiba said in an interview published here today. He told the magazine,252 words
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Article138 1977-08-29 1 AP JAKARTA, Sun. Australia and Indonesia have agreed to decrease flight tariff between the two countries by 30 per cent for excursion fares and 38 Gr cent for group inclusive ur and individual Inclusive tour, the Director General of Air Communication, Rear Air Marshal Kardono saidAP - 138 words
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324 1977-08-29 1 TOKYO, Sun. Japanese sugar refiners said they will offer a compromise proposal by the end of this month to settle i sugar price dispute with Australia. A spokesman for a group of 33 Japanese sugar refiners made the statement •iter the government asked324 words
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462 1977-08-29 1 SINGAPORE'S reinsurance Industry, while showing satisfactory growth over the last three years, is still very much in need of Asian risk capital to expand reinsurance capacity here. Mr. Christopher Lister, managing director of Reinsurance Management Corporation of Asia (RMCA), said the reinsurance industry here462 words
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Article110 1977-08-29 1 JAKARTA Sun. The government has decided to develop the US$4OO million (B$MO million) alumina project on Bin tan island, south of Singapore, although the Soviet Union had confirmed withdrawal from the project, the Department of Mining said The spokesman of the department, Mr. Jardjoko Seputro, said110 words
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Page 1 Advertisements
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Advertisement46 1977-08-29 1 Wiyfbong Ess, hand when Wayfoong Mortgage you need and Finance (Singapore) Limited it IllOSt Shaw House Ground Floor. 354 Orchard Road. Singapore 9. Tel: *****7. Local Co. Now* —PS —PI Ovtrteu MubW —PS Shore Information —P7 —P4 Commodities —P8 Sports -Pf Local Overseas —PS News —pio46 words
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Advertisement83 1977-08-29 1 SONY VIDEO SYSTEM 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. SONY" DXC-1200P (Colour83 words
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Advertisement40 1977-08-29 1 Albert Photo For the best in photographic v- ,NIBHOU R S equipment AO 0* f iCi 1?1 Kt r>r o' O'chjto T. JAL FLIGHT 712: THE TOKYO EXPRESS I hi CET Q NEW YORK N/ANCOUVER 'f- S: (•JlVVil riiTs[!«»! rmm40 words
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REVIEWS
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Article728 1977-08-29 2 IT IS a hard and unpleasant fact of life that whatever one gets one must pay for. Singaporeans have been getting a great deal to make life easier for them. More cars, more clothes, more food, better housing, more recreation, all these have to be Imported,728 words
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718 1977-08-29 2 By CKT NO OPERA is obliged to have catchy tunes. The beginner to this weirdest of arts might as well know that opera Is not a form of music. My colleague Siva understood this well when she last visited the Scala opera houseBy CKT - 718 words
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1015 1977-08-29 2 MUSIC j NYT NEW YORK: Unlike Germany and France, Spain never developed an extensive repetorv for the harpsichord and piano, a continuous tradition that began In the 17th Century and proceeded without Interruption to the present. As In England, periods of keyboard composition were sporadicNYT - 1,015 words
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811 1977-08-29 2 tBOOKS NYT INDIA: A WOUNDED CIVILIZATION by VS. Naipaul. 191 pages. Alfred A. Knopf. U557.95. DO WE really need another treatise on all the dreadful problems of India, asks the weary student of that vast and troubled land. Must we be subjected toNYT - 811 words
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Article460 1977-08-29 2 NYT ECCENTRIC SPACES by Robert Harbison. J 77 pages. Knopf. US$B.95. PERHAPS the greatest compliment we can pay a writer Is to say that no one before him ever thought of looking at the world in K(clsely the way he does, e worldNYT - 460 words
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Article, Illustration1096 1977-08-29 3 NYT NEW YORK: Book-jacket copy so often sounds as If It had been written by the author's mother. "A remarkable, sensitive, enduring woman," the blurb reports on the cover of Cathleen Nesbltt's new autobiography, 'A Little Love and Good Company." It is not roteNYT - 1,096 words
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Article, Illustration1069 1977-08-29 3 DIRECTOR'S ATTEMPT AT AUTHENTICITY NYT THE decaying church was bomb-scarred and vandalised when George Murcell first set eyes on it In 1968. It had long been tinused and was about to be demolished. Mr. Murcell is a Shakespearean actor with a fixed Idea that the BardNYT - 1,069 words
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Article, Illustration1811 1977-08-29 3 EDWARD T.C. LIM - By EDWARD T.C. LIM BY WAY of Introduction, < perhaps a few words are In 1 order about myself and the company for which I work. Bache Halsey Stuart < Shields Incorporated, founded In 1879 and headquartered In New York, Is the second largest brokerage and Investment1,811 words
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Page 2 Advertisements
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Advertisement204 1977-08-29 2 Success in today's world of business calls for a constructive approach to financing, a sound knowledge of the available markets, and original ideas. These are the strategic qualities that Wardley can provide throughout Asia. Wardley Limited, backed by the resources and experience of The Hongkong Bank Group, can offer financial204 words
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Page 2 Miscellaneous
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Miscellaneous51 1977-08-29 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Aug 28 at Singapore airport. Maximum Temperature 30.7° C Associated Humidity 69 Minimum Temperature 22.4° C Associated Humidity 100 Hours of Sunshine 6.15 Rainfall in Millimeters Trace Rainfall for the Month 210.2 Total Rainy Days for the Month51 words
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Miscellaneous736 1977-08-29 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 4 Turns round and cheats (6) 7 One who has his pet sausages? (3, 5) 8 Following a ship like a gull 10 Ties people up? (5) 13 She received a line with thanks (4) 14 A frightful utterance (4) 15 Ellhu Larkln's dance (4)736 words
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Page 3 Advertisements
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Advertisement139 1977-08-29 3 TEAC. XHJ\7IEro Where Art and Technology Meet W I UL/ 291, Serangoon Road, Singapore 8. Tel *****55 qqlbY is a trademark of Dolby Laboratories Inc. .V: t! ass v~ Dynamic TEAC performance is now available to everyone. Buying an inexpensive deck doesn't mean you need to scrimp on features or139 words
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Article, Illustration1552 1977-08-29 4 LAI WAI KUAN - LAI WAI KUAN reports on the Malaysian scene LAI WAI KUAN IT HAS sprouted all around us Hongkong, Taiwan, Indonesia, the Philippines and Thailand but In Malaysia, a film Industry exists largely to turn out advertising. A limited number of feature films are produced by1,552 words
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Article, Illustration1210 1977-08-29 4 NYT WABHINOTON: The Securities and Exchange Commission report Issued on Friday produced few revelations about New York City's financial practices, but It offered something much more significant: It reached an enormously damaging conclusion about the behaviour of both MayorNYT - 1,210 words
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Article, Illustration866 1977-08-29 4 NYT I SEOUL: One night about 585 years ago King Taejo had a nightmare that Eredicted terrible events If e continued to build a new capital city on Its projected site. In the morning the king ordered construction moved. The resultNYT - 866 words
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633 1977-08-29 4 FT CAIRO: S&lah Salen road runs through the middle of old Cairo and then winds Its way up the Mokattem Hills and past the Citadel, an awesome fortress built here when the Crusaders invaded the Arab world. Around mid-day, looking down from theFT - 633 words
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1060 1977-08-29 4 FT IF THE USSR and Its allies are genuinely concerned that South Africa may be on the verge of testing a nuclear explosive, their diplomacy has been quite remarkably Inept. In June they voted successfully to expel South Africa from the BoardFT - 1,060 words
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Page 4 Advertisements
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Advertisement291 1977-08-29 4 ycu ACE INVITED to the First International Exhibition of Business Equipment Services in Southeast Asia >4B£X" ASIAN BUSINESS EXPO September 7,8, 9,10,1977 Hyatt Singapore Hotel Convention Centre A Rewarding Event for Business Personnel In Industry, Retailing, Wholesaling, Commerce 185 DISPLAYS... of equipment and systems for data processing, copying, word processing,291 words
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1210 1977-08-29 5 NYT WASHINGTON, Sun. A 19-month study by the Securities and Exchange Commission charged city officials, rating agencies, underwriters, including the big New York City banks, and bond counsel, with misleading the public and public Investors about the city's financial difficulties. The SEC said ItNYT - 1,210 words
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OVERSEAS
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296 1977-08-29 5 Reuter LISBON, Sun. Portugal's new fluctuating exchange rate for the escudo, announced last week by Prime Minister Mario Soares. will take effect next month. Bank of Portugal vice-governor Victor Constancio- said. He said the fluctuation was expected to be around one perReuter - 296 words
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Article97 1977-08-29 5 Reuter BERNE, Sun. The Swiss government has proposed a series of measures to reduce the expected deficit in the 1978 federal budget by around one to 1.2 billion francs (Ssl to 1.2 billion). The government published on Friday a message to Parliament containingReuter - 97 words
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356 1977-08-29 5 Reuter WASHINGTON, Sun. Wall Street and government analysts expect a third consecutive drop In the Commerce Department's composite Index of leading Indicators when the July report Is released next Tuesday. However, not even the strongest supporters of the index in foreseeing an economicReuter - 356 words
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294 1977-08-29 5 LONDON, Sun. British government officials are strongly sceptical of a press report that the government is planning November tax cuts and Increases In government spending programmes. A government spokesman described the report as entirely speculative. Chief Financial Secretary to the Treasury, Mr. Joel Barnett,294 words
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Article122 1977-08-29 5 Reuter FRANKFURT, Sun. The Bundesbank said it is lowering the yield on nonInterest bearing treasury bonds. U-schaetze, which are sold at a discount and redeemed at par. The cut, effective tomorrow, Is in Une with the lower Interest rates on federal savings bonds which takesReuter - 122 words
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Article35 1977-08-29 5 Reuter WASHINGTON, Sun. The Treasury Department said It will auction US$2.2 billion (555.4 billion) of three-month notes and $3.2 billion of six-month notes on Friday to redeem an equal amount of maturing securities. ReuterReuter - 35 words
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Article231 1977-08-29 5 Reuter NEW YORK, Sim. US lndustrlal companies operated at 80.9 per cent of capacity in July, unchanged from June and 2.5 points above last July's operating rate, McGraw-Hill Inc. said. Industrial production Is expected to continue to rise modestly In the coming months and should reach 85Reuter - 231 words
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226 1977-08-29 5 Reuter HILTON HEAD ISLAND (South Carolina), Sun. The US prime rate should remain at about 7 or 7.25 per cent during the rest of this year and be In the range of 7.25 to 7.50 per cent through 1978, according to Mr. Nelt Bergenthal,Reuter - 226 words
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356 1977-08-29 5 Reuter NEW YORK, Sun. Spokesmen for the major New York City banks said the banks are studying or are obtaining copies of the Securities and Exchange Commission report on the city's financing. Manufacturers Hanover Trust said that while it has not had aReuter - 356 words
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Article153 1977-08-29 5 Moody's, S P deny charges Reuter NEW YORK, Sun. Moody's Investors Service Inc believes It performed correctly over New York City financing, executive vice president Jackson Phillips said. The Securities and Exchange Commission said in its report on the city's financings the rating agencies should "perform with independence, diligence andReuter - 153 words
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133 1977-08-29 5 Reuter LONDON, Sun. The transporting and trading group of companies, one of the largest trading* groups in Saudi Arabia, has borrowed US$4O million, through a five-year syndicated credit, a spokesman for co-lead manager Amex Bank Ltd said. The management of the group of companies IsReuter - 133 words
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Article93 1977-08-29 5 Reuter WELLINGTON, Sun. New Zealand proposes to make a USS7S million public note issue on the New York market during September, Prime Minister and Minister of Finance, Mr. Robert Muldoon, said. Mr. Muldoon said this would be the first time New Zealand had borrowed onReuter - 93 words
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Article115 1977-08-29 5 Reuter DUSSELDORF, Sun. Veba AO's group net profit declined to 64 million marks In the first half this year against 06 million In the same period last year after pre-tax profit fell to 339 million from 435 million, managing board chairman Rudolf Von BennlngsenFoerder told the annualReuter - 115 words
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352 1977-08-29 5 Reuter TURIN, Sun. Flat expects profits In 1977 as good as those of 1976, chairman Giovanni Agnelli said In an Interview. In 1976 the company recorded a net profit of 66.5 billion lire against 107 million In 1975 after depreciation of 275.7 billion againstReuter - 352 words
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Article123 1977-08-29 5 Reuter ZURICH, Sun. Georg Fischer will float a 50 million franc 4* per cent 12-year convertible loan from Sept 1 to 8, Schwelzerlsche Bankgesellschaft said as Issuing consortium leader. The company has reserved five million francs for Its own purposes and the remaining 45 millionReuter - 123 words
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Article66 1977-08-29 5 Reuter NEW YORK, Sun. The American Stock Exchange said It plans to offer up to 150 additional option memberships to qualified individuals at US$l5,OOO each. It also said it plans to allow holders of both equity and option seats to rent them. The new option members,Reuter - 66 words
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Article47 1977-08-29 5 Reuter NEW YORK, Sun. Commonwealth Oil Refining Co said it extended to 1700 EDT Sept 30 the deadline for Ashland Oil to exercise Its option to buy US$5O mllllon.of Corco preferred stock, as requested by Ashland. Corco added chairman Norman Keith and eight directors resigned.Reuter - 47 words
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Article57 1977-08-29 5 Reuter LONDON, Sun. Fisons said its offer for A Qallenkamp and Co is unconditional with acceptances received for over 95 per cent of the ordinary share capital and over 97 per cent of the preference share capital. The cash alternative has been accepted for 3.17 per cent ofReuter - 57 words
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Article182 1977-08-29 5 Reuter TOKYO, Sun. The Finance Ministry said net foreign portfolio Investments In Japanese bonds and debentures In July rose sharply to US$95 million from $11 million In June, with Increased buying before the lowering of longterm Japanese Interest rates In August. Foreign buying of bonds andReuter - 182 words
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160 1977-08-29 5 AP NICOSIA, Cyprus Sun. South Korea's Hyundai International has won a US$235 million contract for the construction of a cement plant In Saudi Arabia, according to a Bahrain newspaper. Eight leading international companies had competed for the contract, for which Hyundai offered the lowest bid.AP - 160 words
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Article46 1977-08-29 5 Reuter LONDON, Sun. The British National Coal Board's US$lOO million 10 year bond issue has been priced at 99 per cent with an eight per cent coupon, a spokesman for lead manager S.G. Warburg said. The Issue was very well oversubscribed, he added.Reuter - 46 words
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Article123 1977-08-29 5 Reuter LONDON, Sun. ICI International Finance Ltd US$lOO million convertible bond issue is priced at par with a 6 3/4 per cent coupon, a spokesman for lead manager S.G. Warburg said. The bonds are guaranteed by and convertible into the ordinary stock of the parent companyReuter - 123 words
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Article118 1977-08-29 5 Reuter CHICAGO, Sun. United States Steel said there is a possibility it will close Its south works here, but added there are no present plans to shut down the mill. The company cited competition from imports of foreign steel and weak demand for structuralReuter - 118 words
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Page 5 Advertisements
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Advertisement17 1977-08-29 5 v.«V< >. X •sX «<•£ s» ss •XV •\v' N '5 ♦A mi BALLY OF SWITZERLAND X THE LEADING17 words
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COMPANY NEWS
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694 1977-08-29 6 PACIFIC Development Credit has already received the bulk of the proceeds from the sale of Its shares In Landbanq and Its freehold property In Penang. Responding to Kuala Lumpur Stock Exchange queries, the company also confirmed that the amount of $13.54 million as694 words
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137 1977-08-29 6 BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 4. 1971 100) 1977 Week ended HIGH LOW INDUSTRIAL GROUP 19/8 26/8 Point Change 210.59 145.90 Automotive 200 43 202.13 1.70 496 57 362 06 Banks. Insurance. Finance and Trustees 362.06 376.56 14.50 164.62 135 80 Chemicals. Rubber Products. Refining and 228.39137 words
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Article219 1977-08-29 6 FIVE months after it offered three million depositary shares to Investors In Singapore, Japanese elevator manufacturer Fuji tec Is to reward shareholders with a one for 10 scrip issue. The move appears to be in line with the company's expectation of bumper profits in219 words
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Article264 1977-08-29 6 AFP TOKYO stock prices recouped most of the loss that the market suffered earlier last week to finish on a strong uptrend on expectations of a further advance early next month. The Dow Jones indicator suffered the first weekly loss in four weeks but analysts say that aAFP - 264 words
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Article330 1977-08-29 6 Current payment Est Date Date payable Total for the year Total for previous year Malaysian Tobacco Uland A Pen. Han K let trie Malayan tVmcnl Srlnnxor Uralging Berjaya Kawat L td Malacca Sclangor Properties Alexandra Holdings Sugars International Wood Pahang Consolidated keck Seng Yeo Hiap Seng (M) Benta330 words
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COMPANY MEETINGS
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23 1977-08-29 6 THE following company meetings are due: Aug 29, 10.30 a.m. at 9th Floor, Wlsma Central, Jalan Ampang, Kuala Lumpur.23 words
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Article21 1977-08-29 6 Aug 31 at 11.30 a.m. at the Board Room, Second Floor, DBS Building, Shenton Way, Singapore 1.21 words
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Article2601 1977-08-29 6 itn Hick Low Caawuur La* Sab WMk +arGr'i Dlt D*t Cn O'l YK Nat P/E WMk Val Weak Higk Law SECTION ONE INDUSTRIALS 154 204 116 230 88* 136 172 58 212 57* A cm* Alcorn Allied Choc Bata Ben 144 171 114 230 68xrt2,601 words
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Page 6 Advertisements
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Advertisement176 1977-08-29 6 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who176 words
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INTERNATIONAL STOCK MARKETS
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Article452 1977-08-29 7 TOKYO: Share prices closed higher m active trading on Saturday, extending Friday's rally, dealers said. The Dow Jones average gained 14.58 to 5.205.44, with volume 200 million shares. The Mew Index rose 0.91 to 385.14. Oils firmed and pharmaceuticals, cameras, textiles, some high-priced electrlcals and speculative* also attracted investor452 words
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Article298 1977-08-29 7 AMSTERDAM: The market closed lower on Friday following Wall Street's overnight decline and Thursday's collapse of Den Uyl's efforts to form a new Cabinet, bourse sources said. Royal Dutch lost 3.40 guilders In weaker Dutch Internationals. Dutch locals were lower over a broad front on lack of Interest. Main298 words
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Article153 1977-08-29 7 BRUSSELS: Most shares closed lower In more active trading on Friday, bourse sources said. TabaeoAaa and Finoutremer rose but ACEC, Wagons-Lists, St Rock and Reserve all fell. In foreign stocks, UK, Dutch and US were lower, German shares mixed, Canadians slightly down, and most French stocks higher. PetroAna fell153 words
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Article284 1977-08-29 7 FRANKFURT: The market closed weaker In dull trading after an active start on Friday, dealers said. Scherinc lost 4.90 marks and Defuses three marks. In chemicals. BASF (ell 1.50 marks. In steels, Mannesmann closed 1.80 weaker while BMW and Daintier both lost one mark. In electrlcals, Siemens lost 1.80.284 words
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Article365 1977-08-29 7 MILAN: Stocks opened mixed on the Milan bourse on Friday ahead of the day's Cabinet meeting scheduled to discuss reform of dividend taxation, bourse sources said. The government has stated Its Intention to abolish dual taxation of both company profits and dividends, but the bourse Is awaiting clarification of365 words
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Article316 1977-08-29 7 PARIS: The market was higher on Friday, helped by foreign buying, dealers said. Foods and metals were led higher by Rbone-Poulenc, CM Industries and Eurafrance, all rising around five per cent. The few falls Included Mumm, Beghin, Kelber, Prenatal, Tel Ericsson and Cote lie, all losing about two per316 words
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Article286 1977-08-29 7 ZURICH: The market moved slightly higher on selective demand on Friday, dealers said. Both Bwiesair rose sharply ahead of expected good results, they said. Among the otherwise little changed flnanclals, Piesssflnsni fca tared gainers. Insurances posted small rises. Leading Industrials fluctuated narrowly apart from Brewn Boveri which fell on286 words
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Article357 1977-08-29 7 JOHANNESBURG: Gold shares eased on lack of Interest on Friday, dealers said. Mining flnanclals were easier in line with producers. Anglos lost seven cents to 448. Coppers were easier with Messina down five cents to 205. Platinums were little changed. Asbestos shares were easier. Elsewhere, De Beers lost 10357 words
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Article332 1977-08-29 7 TORONTO: The market closed with widespread sharp losses as all but one of the 14 sub-indices declined on Friday. Pipelines and oil and gas were double digit index losers. The composite Index was off more than seven points and losses outpaced gains 259 to 116. Trading was moderate. Du332 words
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Article1246 1977-08-29 7 NEW YORK: A wave of latehour buying In blue chip stocks offset sharp earlier losses on the New York Stock Exchange on Friday but lacked strength to pull the broader market along. Although the Dow Jones Industrial average moved Into the plus column In the final hour, after1,246 words
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Article1384 1977-08-29 7 On August 26 TRADING on the Chicago Board Options Exchange came to 82,026 contracts on Friday compared with 81,710 contracts on Thursday. OPTION OCT JAN APL STOCK Alcoa IS 27/1 35/8 4 3/8 401/4 Alcoa 50 5/1 1 1/2 23/8 461/4 Alcoa 60 UNTRD 1/16 UNTRD 461/41,384 words
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Article60 1977-08-29 7 FINANCIAL TIMES INDUSTRIALS Friday *84 5 488 1 4*7 7 DOW JONES AVERAGE INDUSTRIALS Friday 855.42 Thursday 854.12 883 48 LONDON DOLLAR PREMIUM Friday 85* to 86 Thursday 85'* to 86S H.K. HANG SENG 427 83 421 05 419 36 SYDNEY INDUSTRIALS 1 Friday 357.23 356 41 Week Afo60 words
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Article429 1977-08-29 7 NYT The New York stock market continued last week to do what It has been doing best this year: it declined. This was essentially a replay of Its recent weekly performances. The market was dominated by the same old worries signs of a slowing economy and higherNYT - 429 words
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Article285 1977-08-29 7 Reuter RELEASE of the federal government's plans for uranium and the Northwest Shelf gas venture last week started the race between uranium, coal and oil and gas for top honours in the resources stakes on the Sydney Stock Exchange. Share market reaction to the uranium decision wasReuter - 285 words
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Page 7 Advertisements
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Advertisement480 1977-08-29 7 BUSINESS TIMES Airline Directory Awoflot Soviet Airlines 110-112 Show Centra, Orchard Rood, (Tel: 377.111) Air Ceylon 902-1, 3rd Floor, Marino House Shenton Way, Singapore (1) (Tel: *****88) Ground. Floor, ICB Building, Shenton Woy Singapore 1 (Tel: *****11) IMi Floor, UIC Building, Shenton Way, Singapore 1 (Tel: 2205.277) Gl4, Ground Floor480 words
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COMMODITY REPORTS AND PRICES
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Article253 1977-08-29 8 LONDON, Sun. Terminal rubber on Friday moved up 0.45 to 0.20 pence per kilo on volume estimated at 163 lots. Apl/Jne closed at 57.72 pence. Turnover Included 157 of 15 tonnes, and a further single call option. The call was an Apl/Jne 1978 premium six pence basis253 words
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Article154 1977-08-29 8 THE Straits tin price In Penang on Saturday was down M$44H to $1,615% on an official offering up 135 tonnes to 271 tonnes. In LONDON on Friday morning, tin closed £192 down for cash and £140 lower for Three Months standard metal. High grade was £198 and £160 per154 words
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Article347 1977-08-29 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk $72"i sellers, old drum nm sellers, new drum $82 S sellers. Copra Mixed (loose) UK/Cont. 148 buyers. Pepper Muntok ASTA white r.o.b. 100% NLW $400 sellers. Sarawak white rob MS NLW $320 sellers. Sarawak special347 words
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Article81 1977-08-29 8 CIF Rotterdam prices quoted In London on Friday In US dollars per ton Friday Pre*. Malaysia 5% ffa bulk Nov urvch 438slr Jan unch 426 50 pd Sumatra 5% Aug unch 562 50slr Sept unch 472 SOslr/470 Oct 445slr/445 440pd/448 40pd Nov 437 50slr 437.51 <442 50pd Dec81 words
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Article393 1977-08-29 8 THE kilo bar on Saturday opened higher at 8$ 11,560 following strong closing In the New York market which closed at 5511,553. The metal In the London market opened at U*****.60/80 and closed at 145.50/70 in quiet trading. Source: Slngmas Retail prices per tael quoted by the Singapore Chinese393 words
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Article275 1977-08-29 8 LONDON, Sun. Terminal cocoa on Friday recorded first call losses of £37.50 (near Sep at £2,622.50) to £6 per tonne partly against New York having Initially traded near Sept at £2,630, £30 down. But the market staged a modest rally In quiet open trading with short-covering and booksquarlng noted275 words
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Article132 1977-08-29 8 LONDON, Sun. Terminal sugar closed steady on Friday at around the day's highs. Gains from Thursday night ranged from £0.75 to £1.05 per tonne. Preweekend short-covering was again reported by dealers. The turnover totalled 1,534 lots Including 46 further call options. Dealers said there was no news on Friday's132 words
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Article227 1977-08-29 8 LONDON, Bun. Coffee futures on Friday slipped in Uie early afternoon, but floor traders said the fall did not reflect the report that New York September coffee futures were restricted to liquidation of existing long and short positions only. Coffee futures lost £35 to £75 although closing steady. Volume227 words
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Article285 1977-08-29 8 BANGKOK, sun. Business was fairly active last week, and the Tanzania tender for 15,000 tonnes 15 per cent white rice for September shipment was awarded to a Thai exporter while a second lot of the same quantity of rice for November delivery was given to Brasll, trade sources said.285 words
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Article201 1977-08-29 8 CHICAGO, Sun. Wheat futures finished lower on Friday, showing losses between one and two cents a bushel. Near the close, a leading commission house bought between 400,000 and 500,000 bushels of the December. Milling Interests also were net buyers In the final minutes, traders reported. Despite rumours of possible201 words
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Article251 1977-08-29 8 CHICAGO, Sun. Soybean futures fluctuated nervously on both sides of Thursday's close before finishing 1 1/2 to 1/2 cent a bushel net lower on Friday. Traders said the session was dominated by primarily locals as prices were locked In an 11-cent range. Forecasts for a warming trend and clear251 words
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Article154 1977-08-29 8 LONDON, Sun. Silver closed at 252.80/253.80 pence an ounce for spot and at 256.40/257.40 for Three Months on Friday after a steady rise from its fix of 252.35 spot and 250.00 three months, dealers said. Interest In the metal remained slack, and no pick-up Is expected before the end154 words
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Article653 1977-08-29 8 AFTER almost three weeks of dithering, coffee bean prices bounced back last Friday in the light of conflicting news about CQttCt movements between the main producing countries and major consumer nations. In the Singapore market, which continued to operate from hand-to-mouth for want of stocks653 words
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Article233 1977-08-29 8 LONDON, Sun. Copper wlrebars showed losses of £2.50 for cash and £3.50 for Three Months on Friday morning. Values softened In the-pre-market as sentiment was Influenced by expectations of a moderate increase in LME stocks this week and easiness In tin, dealers said. The market subsequently steadied partially and233 words
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Article55 1977-08-29 8 LONDON, Sun. Lead closed £3.75 per tonne down for cash and £3.50 lower for Three Months Influenced by lower copper and tin, dealers said on Friday morning. Three Months traded from £319 down to £316 In the pre-market before holding steady In the ring kerb to finish at £317.50.55 words
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Article52 1977-08-29 8 LONDON, Sun. Zinc rose £3 per tonne for cash and £2.50 for Three Months on Friday morning. Three Months traded from £305 In the pre- market up to £308.50 by the end of the ring and maintained this level on the kerb. Turnover was 1,625 tonnes most of which52 words
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MONEY AND EXCHANGES
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Article232 1977-08-29 8 THE Singapore forex market last week had a moderate active trading week when the US unit opened 2.4535-45, with the dollar done as high as 2.4560. The dollar's firm opening trend was in sympathy with its strength in Kuala Lumpur when dollar/ rlngglt touched a peak level of 2.4700-05.232 words
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Article48 1977-08-29 8 1 acbc 6 1 4 First Chicago (H t l < Citibank iS EWafkok Bilk 7 HSBC (S «v. CH Bank of Chiaa 7 SH Mitsui Btik S'< Bank Ntfirt 1 ndonetll OCBC l 7 OL'B 6 l UCB 7 C^< CMBC 7 DBS «H UOB48 words
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Article276 1977-08-29 8 Asian rate? THE US dollar deposited last week opened on a softer tone on Monday, and remain unchanged throughout the week. Trading activity was light. Day-to-day rates were traded around 5 15/16 per cent for most part of the week. Money supply figures: Ml: Up $300 million M 2: Up276 words
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Article366 1977-08-29 8 Source: Commercial Discount Company Ltd. THE Interbank money market remained generally easy throughout last week with overnight and term rates declining for the major part of the week. The MAS announcement of $500 million bond Issue provided the market with some uneasy moments but It was shortlived asSource: Commercial Discount Company Ltd. - 366 words
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Article461 1977-08-29 8 Source: Swiss Bank Corp. Zurich. ZURICH, Sun. The dollar weakend sharply last week, but was able to recover slightly towards the end of the week. Main reaon for the dollar's losses was the unfavourable development of US durable goods orders. In July, orders declined by 4.4 per cent, theSource: Swiss Bank Corp. Zurich. - 461 words
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Article286 1977-08-29 8 LONDON, Sun. The dollar moved lower on Friday towards the close of trading here after a quiet afternoon session ahead of the long UK holiday weekend. The mark rose to around 2.3115/30 against the dollar from its mld-sesslon 2.3160/70 and the Swiss franc, after easing slightly early In the286 words
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Article89 1977-08-29 8 THE announcement of the MAS withdrawal of Overnight Treasury bill facility to discount houses and the 500 million bond Issue at the beginning of last week caused some confusion In the market. Keen taking interest were seen initially coupled with lenders reluctant in placing funds in the periods.89 words
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Article40 1977-08-29 8 FOR the week ended Friday Aug 26, the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND 3KH to 5)4* GENERAL FUNDS 3tt% to 5* Movement of funds totalled $532 million.40 words
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Article281 1977-08-29 8 NEW YORK. Sun. The dollar on Friday closed weaker on balance while the Swedish crown fell sharply in thin closing trading. The crown dropped in a flurry of selling on a sudden expectation, in the typically nervous Friday afternoon market here, that it will be devalued over the281 words
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Article124 1977-08-29 8 Euro rates LONDON, Sun. Eurodollar deposit rates on Friday, closed very little changed from openings after minimal rate movements ahead of the UK holiday weekend, dealers said. Trading In periods was also dampened by operators' reluctance to open new positions In fixed dates ahead of the end of the month.124 words
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Article32 1977-08-29 8 FRANKFURT exchanges closing quotes on Aug 26 US 2.3145/55 Can 2.1515/35 UK 4.033/038 Neth 94.62/72 Swttz 97.44/54 Italy 2.626/634 France 47.19/29 Japan 0.8681/91 Belg com 6.505/515 Belg fin 649/51 Norw 43.70/8032 words
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Page 8 Advertisements
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Advertisement128 1977-08-29 8 Don't let the language barrier stop you from wider contacts \PI <<:) I <vj eAV e** 0r* e o \0 \e vN t* <A S^ X c\ v>\e <e>=> x < 9089 k YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at home, while travelling in fact anywhere and any128 words
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1278 1977-08-29 9 ALAN HOBY - IPSWICH COACH ON ARAB MONEY AND SOCCER By ALAN HOBY Sunday Express DRIVE LEFT out of Arnhem along Highway A 8 past the military cemetery and you will come to Papendal Holland's sprawling 300-acre national sports centre, set ldylllcally against a verdantSunday Express - 1,278 words
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Article, Illustration1029 1977-08-29 9 JAMES MOSSOP - By JAMES MOSSOP Sunday Express FLOODLIGHT pylons piercing the murk of a grey, North London morning are more than Just a landmark as you drive along White Hart Lane towards the Tottenham High Road. They crane- loftily over one of the world's most celebratedSunday Express - 1,029 words
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604 1977-08-29 9 AP LONDON, Sun. Manager Brian Clough saw his current Nottingham Forest soccer team demolish his old team Derby County 3-0 at Nottingham yesterday to climb to the top of the football League. Forest well deserved Its two points. Derby started well enough butAP - 604 words
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Article, Illustration648 1977-08-29 9 Those 7 years by Fourie TALK TO the tall South African, John Fourie, and he will tell you he won more than the £5,000 ($21,000) first prize In last weekend's Callers Tournament. There was In Immeasurable amount of satisfaction too. Surviving that nallbltlng four-man play-off brought a first success In648 words
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Article734 1977-08-29 9 SICC players almost made a clean sweep, on their course, In the Singapore Golf Association's lnterclub team championship yesterday. They won the team titles In the "A" and "B" division and two of their players returned the best nett scores In the competition, at734 words
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Article222 1977-08-29 9 AP TOKYO, Sun. Taking advantage of the nationwide publicity surrounding Japan's homo run king Sadaharu Oh's rhsse for a world home run record, local businessmen have come up with now idea for cashing in. One hot spring resort hotel association in Shifuohs prefecture southAP - 222 words
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616 1977-08-29 9 DANNY BLANCHFLOWER - By DANNY BLANCHFLOWER THE F.A. have been playing defensive game since Don Revie sneaked oat of their back door. But last week they broke out and made a quick forward strike and borrowed Ron Greenwood from West Ham. Rather than rejoicing in the new616 words
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Page 9 Advertisements
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Advertisement396 1977-08-29 9 Dote: 3rd. Sept. 77, Venue: Stadium Restaurant, (Motionol Stadium), Time: 12.00 noon onwards. ATTRACTIVE PRIZES TO BE WON: MEN IST. PRIZE Trophy worth $300 plus $1,000 gift voucher 2ND. PRIZE Trophy worth $150 plus $500 gift voucher 3RD. PRIZE $75 plus $250 gift voucher Trophy worth $50 plus $100 gift396 words
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263 1977-08-29 10 Reuter MARKET reports that the Soviet Union has returned to the rubber market as a buyer after more than two months' absence received a mixed response from traders in Singapore and Malaysia. One Singapore source said the Soviet Union signed new long-termReuter - 263 words
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Article138 1977-08-29 10 AFP KUALA LUMPUR. Sun. The first coastal vessel bought by the Malaysian International Shipping Corporation (MISC) from China arrived at Port Klang here today. The vessel, bought at a cost of US$2.5 million (Ss6.l million) made Its maiden voyage from Shanghai. It stopped at Bangkok on ItsAFP - 138 words
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175 1977-08-29 10 AP KUALA LUMPUR, Sun. The issue of yen traveller's cheques has been stopped following the discovery that counterfeit cheques are being circulated, the Bank of Tokyo office here said over the weekend Very elaborately forged cheques for amounts totalling several million yen had beenAP - 175 words
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Article575 1977-08-29 10 ARRIVALS Service Operator Number Local Time From CPA SAS MAS CPA GIA CX003 SK097 MH682 CX710 GA980 0145 0640 0810 1000 1030 HKG CPH/THR/BKK KCH HLP HLP THAI SIA GIA GIA PAL TG423 SQ211 GA944 GA908 PR501 1035 1045 1055 1100 1115 BKK HLP PKU MES MNL575 words
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Article676 1977-08-29 10 LONDON, Frl. The stock market closed above earlier lows following the cancellation of the threatened strike at British Leyland. dealers said. Trading was quiet ahead of the long weekend. At 3.00 pm the Financial Times index was down 1.5 at 484.6 Government bonds erased Initial falls of up676 words
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558 1977-08-29 10 FUJITSU Limited, one of Japan's leading electronics manufacturers, plans to start computer comEnents manufacturing at Singapore plant in the near future. Revealing this at a press conference over the weekend when the company officially presented $1 million worth of scientific exhibits on558 words
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496 1977-08-29 10 A TESTIMONY to the Importance of Singapore as an international port of call can be gauged by the fact that every seven minutes, a vessel enters or leaves the harbour. The Economic Development Board (EDB) monthly newsletter, Singapore Investment News, in sketching the496 words
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Article76 1977-08-29 10 Queries b y MP A MEMBER of Parliament will ask the Minister for National Development and Communications how many granite quarries are owned by the Housing and Development Board as opposed to the number operated by the private sector when Parliament sits this Friday. Mr. Teo Chona Tee, the MP76 words
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Article35 1977-08-29 10 THE Senior Minister of State for Education, Mr Chal Chong Yil, will open a family planning and population education seminar for Secondary school principals on Sept 9 at the Civil Service Btaff Development Institute.35 words
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Article242 1977-08-29 10 THE Primary Production Department (PPD) Is continuing research into a cheaper and better system of hydroponics cultivation to help farmers In the Republic grow more high value crops and to cut down imports. The government, according to the latest issue of the Mirror, a Ministry of Culture publication,242 words
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Article127 1977-08-29 10 NEW Zealand has recently presented a map showing the details of the various soil types In Singapore to the Primary Production Department, Ministry of National Development. The map Is a cumulation of several years' work on a project financed through New Zealand's aid programme to127 words
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Article240 1977-08-29 10 MANY errors and omissions held up the publication of the 1973/74 annual report of the Housing and Development Board, according to the Auditor-General, Mr. Chee Keng Soon. Mr. Chee's observations were contained In a belated report which was released last week. The report, presented240 words
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Article105 1977-08-29 10 AFP HONOKONO, Sun. Hongkong's domestic exports rose 15.9 per cent last month to a value of HKS3.4 billion (811.8 billion) lnsplte of sluggish world trade. Commenting on these official figures released over the weekend, trade sources said the sharp Increase was due to a seasonal upturnAFP - 105 words
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Article265 1977-08-29 10 AP PITTSBURGH, Sun. US Steel Corporation, the United States largest steelmaker, says It may curtail production at some plants because of foreign competition, rising operating costs and environmental regulations. "We're taking a hard look at all costs because of a low level of business," a US SteelAP - 265 words
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177 1977-08-29 10 Reuter NEW YORK, Sun. A last ditch effort to stop Concorde from landing here begins In earnest tomorrow. At stake are British and French hopes that at long last, their US$3 billion (557.4 billion) sujjersonlc airliner can finally make some money. Both countriesReuter - 177 words
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Article, Illustration475 1977-08-29 10 KUALA LUMPUR, Sun. Equity restructuring under the Industrial Coordination Act will be confined to new industries and to the additional Investment undertaken by existing companies, the Trade and Industry Minister, Datuk Hamzah Abu Samad, said. In both instances, only companies catering for the475 words
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Page 10 Advertisements
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Advertisement158 1977-08-29 10 Wo can't close t he deal for you. Neit hei can we chip in with a new marketing strategy, even if we've overheard what your competitor s are tip to. v But we do guarantee the finest French and other Continental cuisines this side of town, a large collect ion158 words
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