The Business Times, 1 September 1977
1977-09-01
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The Business Times
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Title Section10 1977-09-01 1 BUSINESS TIMES M.C.(P) 300/1/77 THURSDAY, SEPTEMBER 1, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article60 1977-09-01 1 AFP MANILA, Wed. Belgium's outgoing ambassador here today voiced hope for closer economic relations between the European Economic Community and Asean as a result of their ongoing dialogue. Ambassador Louis Vandenbrande In a farewell meeting with Philippine President Marcos, said he hoped that such EEC-Asean dialogueAFP - 60 words
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Article48 1977-09-01 1 COLOMBO, Wed. Sri Lanka's Central Bank Increased its bank rate from BVa to 10 per cent today. A Central Bank spokesman said it was part of the government's plan to reduce the money supply which had risen 60 per cent during the past 20 months.48 words
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Article41 1977-09-01 1 AFP HONGKONG, Wed. Inland Revenue investigators are making It hard for tax dodgers to get away with it. In the last financial year dodgers had to cough up HK$l9.B million (559.70 million) In back tax and penalties. AFP.AFP - 41 words
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Article62 1977-09-01 1 Reuter HELSINKI, Wed. Finland today devalued the markka by about 3 per cent, coming more into line with the hard-hit Scandinavian countries, which have devalued their currencies over the last few days. This spate of devaluation has aroused concern in international money circles, and the Scandinavian currencies againReuter - 62 words
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Article60 1977-09-01 1 Reuter ROME, Wed. One of America's biggest banks said today It is investigating a possible fraud of up to US$3 million (557.35 million) involving its Rome branch. A spokesman for the bank, Citibank of New York, said in a statement that the amount that might be recoveredReuter - 60 words
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Article99 1977-09-01 1 Reuter JAKARTA, Wed. Indonesia's only gold mine in south Banten, west Java, produced 394 kilograms of pure gold last year, up 13 per cent over the previous year, but may have to close down. The Cikotok mine is the only gold mine in the 'country, and oneReuter - 99 words
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Article76 1977-09-01 1 Reuter MACAO, Wed. Macao registered a new record in July with almost quarter of a million people visiting the Portuguese enclave from Hongkong, according to official statistics. The figures showed there were 248,977 tourist visitors from the nearby British colony, a rise of 16 per centReuter - 76 words
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Article70 1977-09-01 1 UPI NEW YORK, Wed. Stocks headed broadly and sharply lower early today In reaction to the Carter Administration consideration of so-called "wage-price standards." Trading was moderate. The Dow Jones industrial average, which fell 5.20 points yesterday, was off 4.94 points to 853.95 shortly before 11 a.m. Declines outnumberedUPI - 70 words
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Chief price changes
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Article, Illustration178 1977-09-01 1 TRADING on the Stock Exchange of Singapore continued on an easier note yesterday, with marginal losses across the board. The Business Times index was off 1.11 points at 426.14 while the Straits Times Industrial average was fractionally lower at 267.43. The Kuala Lumpur Stock Exchange was closed178 words
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1315 1977-09-01 1 HENRY CHANG - FORECAST BY RAZALEIGH In an exclusive interview with the Finance Minister of Malaysia, HENRY CHANG discovers that the outlook for 1978 is bright and that the economy will have sufficient capacity to carry out all the projects planned by the Government. HENRY CHANG COMFORTABLE growth1,315 words
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Article, Illustration499 1977-09-01 1 THE Singapore Association of the Institute of Chartered Secretaries and Administrators yesterday called for legislation to provide that the company secretary of a public company listed on the Stock Exchange be professionally qualified. The association's chairman, Mr. Lee Fook Hong, said last night that499 words
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Article262 1977-09-01 1 Reuter PARIS, Wed. The French Government today decided on a cautious economic boost, with more government funds available for lndustry and housing, cheaper credit, and a windfall grant to poor families with children at school. It was an early answer to leftwlng opposition accusations ofReuter - 262 words
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Article261 1977-09-01 1 LONDON. Wed. Britain has drawn further sums from the line* of credit It received at the ckwe of last year, even though Its reserves have risen sharply, the Treasury said. The lines of credit were provided by the International Monetary Fund (IMF) and the261 words
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219 1977-09-01 1 MORE THAN year has pasted and the Singapore Institute of Management is still looking around for a new executive director. Having tried the "personal approach" method which proved unsuccessful, SIM is now advertising in newspapers for the right man to All the poet.219 words
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Article69 1977-09-01 1 MANILA. Wed. Asean Parliamentarians, meeting here, today finalised an Asean Inter-Parliamen-tary Organisation (AIO) statute to serve as the for a legislative grouping among lawmakers of the region. The statute provides, among other things, for the creation of a "general assembly" consisting of not more than 15 members each69 words
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476 1977-09-01 1 ASEAN will seek to establish a dialogue with West Asia to promote closer trade and economic cooperation. Reports from the economic ministers' meeting in Pattaya say the regional grouping is particularly Interested in securing a larger share of the West Asian market.476 words
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Article118 1977-09-01 1 THE Chinese Chamber of Commerce will be sending 10-iuetnbr trade mission to West Asia early next year. The chamber's manafemeat committee approved the trade mission at its monthly meeting held yesterday and is now inviting its members to participate in it. The move follows the Prime Minister. Mr.118 words
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Page 1 Advertisements
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Advertisement130 1977-09-01 1 We're great LISTENERS... ...so, talk to us. Because we stay tuned to what goes on in the world of finance, we can give clear, sound advice. We are constantly developing new and imaginative plans to meet the financial needs of both small and big businesses. As a specialised financial institution,130 words
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Advertisement73 1977-09-01 1 14 Shaw Road Singapore 13 Tel 111/*****7 i 1 -v i Fl&t hottest Helen Chiu. Daily flight departs at 10.45 am arrives Hong Kong at 2.50 pm and continues on to Tokyo arriving at 10.25 pm. For reservations call your travel agent or Cathay Pacific at *****1. CATHAY PACIFIC Tto73 words
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OVERSEAS
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334 1977-09-01 2 UPI WASHINGTON, Wed. Four bank executives testified yesterday that the huge international debts caused by the quadrupling of oil prices In recent years are manageable. But they said adjustments in the world economic system are required and that the major Industrial powers must restrictUPI - 334 words
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Article65 1977-09-01 2 AP LONDON, Wed. For the first time In Its history, a top British art gallery will hold a public lottery In an attempt to save two 18thcentury British paintings from being sold and perhaps leaving the country. The government-sup-ported Tate Gallery must raise £140,000(S$597,800) by this ChristmasAP - 65 words
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216 1977-09-01 2 UPI CARACAS, Wed. President Carlos Andres Perez said yesterday that Venezuela has an oil potential that assures the South American producer of 100 years or more of production. "The continental platform and the Orinoco ollbelt offer the possibility of finding new reservesUPI - 216 words
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538 1977-09-01 2 Washington Star WASHINGTON Wed. The Carter Administration says its new programme to stem agriculture surpluses would not Increase food prices. The Administration announced on Monday, a "setaside" programme for wheat that will decrease the acreage alloted to this food grain and also IndicatedWashington Star - 538 words
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276 1977-09-01 2 Reuter OTTAWA, Wed. The Canadian Government Is optimistic it can soon conclude talks with the United States on the building of a US$lO billion (5524.5 billion) pipeline to carry Alaskan natural gas across Canada to the US Jn formed sources said yesterday. The likely finalReuter - 276 words
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Article118 1977-09-01 2 UPI WASHINGTON, Wed. Defence Secretary Harold Brown told the navy Its budget would be cut and It has to get along with fewer fighter planes, Pentagon sources said yesterday. The sources confirmed Eubllshed reports that Mr. rown told the services to cut back asUPI - 118 words
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Article85 1977-09-01 2 AFP OTTAWA, Wed. Canada announced yestered It «u granting Nepal USfl.6 million (553.92 million) aid over the next three years to pay for the purchase and transport of 7,000 tonnes of Canadian potash. The Canadian Agency for International Development said the potash would be used toAFP - 85 words
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330 1977-09-01 2 AP LONDON, Wed. The squeeze on Immediate dellvery coffee prices eased yesterday, partly because no one wanted to buy the commodity and because Brazil and other Central American buyers were absent from the London market. "There was absolutely no movementAP - 330 words
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564 1977-09-01 2 NYT WASHINGTON, Wed. The Pentagon has quietly urged the Carter Administration to sell 60 Fl5 supersonic fighters to Saudi Arabia, according to government sources. Following a strong debate within the Pentagon, Defence Secretary Mr. Harold Brown recommended about two weeks ago thatNYT - 564 words
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419 1977-09-01 2 UPI HONOLULU. Wed. If today's rugged Individualists, self-made men and local boys who made good took a time-machine ride to the year 2000, they would probably be given immediate psychiatric attention, according to a noted psychiatrist who specialises In studies of theUPI - 419 words
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289 1977-09-01 2 UPI WASHINGTON, Wed. The Defence Department paid Israel USS2.B million (96.72 million) over 20 months to cover expenses of its arms purchasing mission in the United States, a Pentagon spokesman said yesterday. Spokesman Thomas Ross said about $140,000 a month in credits fromUPI - 289 words
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154 1977-09-01 2 AP LONDON, Wed. Fresh trouble loomed for air traffic over Britain today with a threat of disrupted communications. Air traffic control assistants demanding a pay raise were ordered to return to work or be suspended by the Civil Aviation Authority (CAA).AP - 154 words
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368 1977-09-01 2 UPI NAIROBI, Wed. The US Peace Corps Is planning a major expansion programme to send volunteers to underdeveloped countries In a bid to slow the growth of the world's deserts. The expansion programme, which will put about 1,000 volunteers Into the fieldUPI - 368 words
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Article231 1977-09-01 2 Reuter PASADENA (California), Wed. The development of a chemical compound that can convert sunlight directly into fuel was announced by California Institute of Technology chemists here. Under the chemical process, natural gas Is produced by sunlight playing on a newly discovered compound containing the metal, rhodium, according toReuter - 231 words
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Article111 1977-09-01 2 AFP ALGIERS, Wed. A contract for sale of Algerian natural gas to West Germany concluded last June 30 has been approved by Algerian and West German authorities, It was announced here yesterday. The contract was signed by the Algerian National Hydrocarbon company "Sonatrach" and the West GermanAFP - 111 words
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448 1977-09-01 3 Reuter FRANKFURT, Wed. The West German mark Is now the weakest member of the European Joint float, while the Danish and Norwegian crowns are Its strongest members, dealers said. The technical unwinding of short positions taken In Scandinavian currencies during the summer InReuter - 448 words
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Article106 1977-09-01 3 Reuter WEISBADEN, Wed. The West German provisional cost of living Index for August, base 1970, fell 0.1 per cent from the July level after similarly dropping 0.1 per cent In July from June, the Federal Statistics Office said. The office said its provisional statistics Indicate the indexReuter - 106 words
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200 1977-09-01 3 Reuter MOSCOW, Wed. The Soviet Union's trade deficit with Western countries fell to 193 million roubles in second quarter 1977, compared with 1.2 billion in first quarter and 947 million in the second quarter 1976, official figures show. The August edition of theReuter - 200 words
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Article45 1977-09-01 3 Reuter THE HAGUE, Wed. Holland had a visible trade deficit of 904 million guilders In June compared with a deficit of 448 million in May and a shortfall of 3 million In June 1976, according to provisional Central Statistics Office figures Reuter.Reuter - 45 words
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472 1977-09-01 3 Reuter PARIS, Wed. The French leftwlng has been given fresh propaganda for its election campaign by a state agency report which highlights wide and persistent disparities In the nation's wealth and Incomes. The report by La Calsse Des Depots et Consignations (Savings and LoansReuter - 472 words
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Article28 1977-09-01 3 Reuter LONDON, Wed. The UK Finance Houses Association said Its base rate for September is per cent, down from 8 per cent in August. Reuter.Reuter - 28 words
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774 1977-09-01 3 NYT Reuter WASHINGTON, Wed. The 3 per cent fall In total factory orders and the third monthly drop In the Index of leading indicators In July show that the nation Is settling Into a slower growth pattern after an unusually buoyant first half.NYT; Reuter - 774 words
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354 1977-09-01 3 AFP WASHINGTON, Wed. Imports of cotton wool and man-made fiber textiles into the United States declined 6 per cent during the first half of 1977, the US Department of Commerce reported yesterday. Total imports were 2,090 million square metres equivalent, compared with 2,232AFP - 354 words
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194 1977-09-01 3 Reuter WASHINGTON, Wed. A panel of US bankers said the International Monetary Fund should show more leadership In dealing with increased international debts by both developed and less developed countries. The bankers, testifying at a Senate Banking Committee hearing, also asked Congress to approveReuter - 194 words
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141 1977-09-01 3 Reuter WABHINOTON, Wed. The Commodity Futures Trading Commission (CFTC) approved in principle revised rules which will allow commodity options to be traded on designated boards of trade In the U8 under a threeyear pilot programme. The rules will also allow the sale of LondonReuter - 141 words
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191 1977-09-01 3 Reuter AP NEW YORK, Wed. President Carter wants a 10month strategic oil reserve to serve as a cushion In the US economy in the event of another Arab oil embargo. In a videotaped television programme, Mr. Carter said "If we do have anotherReuter; AP - 191 words
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Article, Illustration79 1977-09-01 3 Reuter WASHINGTON, Wed. President Carter called for an end to violence In Northern Ireland and said the US will study Investment there once a settlement Is achieved. In a statement, he asked Americans to stop giving financial or other aid to organisations involved In violence inReuter - 79 words
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Article76 1977-09-01 3 Reuter WASHINGTON, Wed. The Treasury said the US$2.5l billion (556.15 billion) worth of four-year, one-month notes it auctioned attracted an average effective yield of 6.84 per cent. The Treasury set a coupon rate of 6.75 per cent on the notes, making the average price 99.671. Prices willReuter - 76 words
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Article47 1977-09-01 3 Reuter PARIS, Wed. French Prime Minister Raymond Barre said It would be difficult for the EEC to modify its textile imports policy to help Morocco, French officials said. His assertion was made In talks with visiting Moroccan Trade Industry Minister Abdell&tlf Thiawusl. Reuter.Reuter - 47 words
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590 1977-09-01 3 NYT WASHINGTON, Wed. Carter Administration officials are considering a new programme for wage and price restraint In an effort to reduce Inflation and expect It could be announced within the next six months, a qualified source said yesterday. The Administration is understood toNYT - 590 words
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Page 2 Advertisements
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Advertisement119 1977-09-01 2 I «f An investment in a leading ondon Hotel near HYDE PARK CORNER for £580,000.00 (approximately S$2,510,000.00) Contact Sole Agents rn Lai Pang Fee Simon Lim Chartered Surveyors Property Development Consultants. Valuers. Real Estate Agents. Auctioneers Property Managers. Suite 1507,15 th Floor, CPF Building, Robinson Road, P.O Box 1238, Singapore119 words
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Page 2 Miscellaneous
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Miscellaneous399 1977-09-01 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Aug 31 at Singapore airport. Maximum Temperature 30.4° C Associated Humidity 68 Minimum Temperature 23.2° C Associated Humidity Hours of Sunshine 5.85 Rainfall in Millimetres Nil Total Rainfall for the Month j 217.0 Total Rainy Days for the399 words
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Page 3 Advertisements
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Advertisement88 1977-09-01 3 I his announcement appears as a matter of record only GOVERNMENT OF THE STATE OF SABAH, MALAYSIA 25,000,000 Malaysian Ringgit Medium Term Loan Managed and Underwritten by Arab-Malaysian Development Bank Berhad UDA Merchant Bankers Berhad Provided by Arab-Malaysian Development Bank Berhad Asian International Merchant Bankers Berhad Bank Bumiputra Malaysia Berhad88 words
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Page 3 Miscellaneous
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Miscellaneous621 1977-09-01 3 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS I Ceremonial for master and pupil (8) 7 Roguish nobleman? (8) How manual strikers show approval (4) It Like this word for a "rood" <8) 11 Decline to set us free again 14 Some is red, some pink (3) 14 Tools (or mending spars? (5)621 words
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COMPANY NEWS
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671 1977-09-01 4 DESPITE reduced trading profits for the year ended March 1977, Pan Malaysia Rubber Industries has raised Its dividend distribution from an adjusted 7.5 per cent tax exempt dividend last time to 20 per cent tax exempt. However, this does not imply that PMRI671 words
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COMPANY MEETINGS
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Article26 1977-09-01 4 THE following company meetings are due: Sept 3 at 9.30 a.m. at the Company's Office at Shah Alam industrial Estate, Sungel Renggam, Selangor.26 words
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Article19 1977-09-01 4 Sept. 17, 12 noon at the Gardenia Room, Shangri-La Hotel, 22 Orange Grove Road, Singapore 10.19 words
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Article18 1977-09-01 4 Sept. 17 at 15th Floor, Rooms 1511/1512, Shlng Kwan House, 4 Shenton Way, Singapore 1.18 words
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Article11 1977-09-01 4 Sept. 19 at the Registered Office, Batu Tlga, Selangor.11 words
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22 1977-09-01 4 Sept. 21 at 10.30 a.m. at the Registered Office, 12thFloor, Yee Seng Building, Jalan Raja Kuala Lumpur.22 words
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23 1977-09-01 4 Sept. 21 at Office mhU he Ri, M. h Floor Ye Seng Building, Jalan BoVS Chulan, Kuala Lumpur.23 words
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Article19 1977-09-01 4 Sept. 29 at 10.30 a.m. at First Floor. Ban Hln Lee Bank Chambers, Beach Street, Penang.19 words
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Article18 1977-09-01 4 Sept 29, 10.00 a.m. at First Floor, Ban Hln Lee Bank Chambers, Beach Street. Penang.18 words
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21 1977-09-01 4 Sept. 29 at 11.00 a.m. at First Floor. Ban Hln Lee Bank Chambers, Beach Street Penang.21 words
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Article17 1977-09-01 4 Oct. 21 at the Re- glstered Office, Chartered Bank Chambers, Beach Street, Penang.17 words
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Article318 1977-09-01 4 Current Ex Date Total for Total for payment Date payable the year previous year Selangor Dredging 15% Aug 12 Sept 6 50% 40% Herjaya Kawat 5%TE Aug 16 Sept 9 10%TEb 7.5%TE L td Malacca 18% Aug 23 Sept 10 24% 20% Selangor Properties 8%I Aug 23 Sept318 words
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327 1977-09-01 4 KUALA LUMPUR KEPONG has Increased Its stake In Yule Catto to 22.6 per cent aocordlng to a statement from the Britishbased company which has extensive plantation interests here as well as diversified Interests In Britain. KLK announced a 20 per cent shareholding In327 words
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Article49 1977-09-01 4 Reuter ORIENTAL Holdings Bhd said its wholly-owned subsidiary, Kkh Motor, has made a four-for-10 scrip Issue of Mslo par shares by capitalising $2.4 million from unappropriated profits. The Issue raised the subsidiary's paid-up capital to MM.4 million from $6 million, Oriental Holdings added. ReuterReuter - 49 words
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659 1977-09-01 4 RISING COSTS have severely eaten Into profit margins at Rothmans of Pall Mall (Malaysia), resulting in the company reporting a 12.9 per cent decline in group pre-tax profit to M 512.71 million, despite a 3.01 per cent rise in turnover to 1218 million for659 words
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908 1977-09-01 4 KUALA LUMPUR, Wed. A new insurance company, backed by Malaysian and Korean interests has been formed to take over the unexpired risks of existing policyholders of the collapsed First General Insurance (FOI). It Is understood that the company has already been Issued908 words
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Article132 1977-09-01 4 ROYAL Insurance has announced the appointment of Mr. R.E. Hughes ACII as manager for Singapore and Brunei. Mr. Hughes will also be responsible for the group's business In Thailand. Royal also announced the retirement of Mr. A.D. Moodle ACII, the Eastern manager after 42 years of service132 words
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LATEST RESULTS
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Article38 1977-09-01 4 Unaudited group pre-tax profit $373,000 ($708,000) for the first half year ended June 30. 1977. Turnover $10.34 million ($10.27 million). Parent company pre-tax profit $73,000 ($28,000) on turnover of $510,000 ($444,000). Interim dividend four per cent (same).38 words
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Article25 1977-09-01 4 Unaudited pre-tax profit $13.33 million ($9.41 million) on turnover of $58.62 million ($51.01 million) for the first half year ended June 30, 1977.25 words
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799 1977-09-01 4 NYT NEW YORK, Wed. If there is any validity In the adage about misery loving company, stockbrokers and commodities men surely have much In common these days although the Elcture does have a few right spots. A representative check of eight leadingNYT - 799 words
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Page 4 Advertisements
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Advertisement506 1977-09-01 4 Bangkok Bank Limited (Incorporated in Thailand) BALANCE SHEET AS AT JUNE 30, 1976CASH IN HAND AND DUE FROM BANKS THAI COVFRNMENT SECURITIES FOREIGN GOVERNMENT SECURITIES OTHER THAI SECURITIES OTHER FOREIGN SECURITIES BILLS RECEIVABLE 00 LOANS AND ADVANCES 00 BANK'S PREMISES AND EQUIPMENTS 83 OTHER ASSETS CUSTOMERS' LIABILITIES ON GUARANTEES AS506 words
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INTERNATIONAL COMPANY NEWS
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Article156 1977-09-01 5 NORTH AMERICAN COMPANIES Reuter INTERNATIONAL TELEPHONE and Telegraph Corp and Eason Oil Co said they have completed the merger of Eason Into an ITT wholly owned subsidiary. The merger was approved on Tuesday at a special meeting of Eason stockholders. As a result, each share ofReuter - 156 words
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108 1977-09-01 5 Reuter SILICONIX INC confirmed reports that Honeywell Inc is the company that offered to acquire it for about US$l9 million or $10 a share. Siliconix had previously reported the offer but declined to name the company bidding for it. Siliconix also said it was advisedReuter - 108 words
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Article95 1977-09-01 5 Reuter EXXON CORP's petroleum product demand forecasts for 1990 are now 25 per cent lower than they were before the 1973 Arab oil embargo. Randall Meyer, president of the company's Exxon USA unit, told a Southern Governors' Conference. Mr. Meyer said gains In oil conservation throughReuter - 95 words
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Article61 1977-09-01 5 AFP BANGKOK, Wed. General Motors Thailand Limited is withdrawing from active participation in the distribution and marketing of their cars in Thailand, the Bangkok Post daily reported today. Quoting informed sources, the paper said the move was due to the change in the car marketAFP - 61 words
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Article223 1977-09-01 5 Reuter FORD 1916 model year car and truck sales are expected to rise 10 per cent to 2.7 million vehicles over the 2.45 million sold In the 1977 model year, executive vicepresident William Bourke told a press preview of 1978 Ford models. Mr. BourkeReuter - 223 words
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Article69 1977-09-01 5 Reuter A SPOKESMAN for Steel Co of Canada Ltd said the company intends to raise Its prices for tin mill products, but declined to give details. Dominion Foundries and Steel Ltd earlier said It Is increasing Its tin mill product prices by U5525.08 a ton, orReuter - 69 words
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174 1977-09-01 5 Reuter BALTIMORE, Wed. Five Independent oil companies, their trade association and its director were convicted by a federal jury here of illegally conspiring to fix prices on the sale of 17 billion gallons of petrol in the mid-Atlantic states. Found guilty were Kayo OilReuter - 174 words
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Article65 1977-09-01 5 Reuter CITIBANK NA said It is investigating Italian press reports of financial problems at its branch in Rome. A spokesman said In response to inquiries, the branch's maximum exposure before tax is about US$3 million, not including potential recoveries which will be determined when the investigation isReuter - 65 words
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158 1977-09-01 5 Reuter THE trans-Alaska pipeline Is now transporting about 700,000 barrels of oil per day and should reach Initial design capacity of 1.2 million barrels around the end of the first quarter, 1978. when pump station eight is back on stream, Standard Oil Co (Ohio) vice-chairmanReuter - 158 words
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Article34 1977-09-01 5 CYPRUS MINES CORP said a new hydro metallurgical process it has been working on is a "technological success". The company said it had processed copper concentrates to produce high purity copper wlrebar.34 words
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Article126 1977-09-01 5 Reuter COOK INDUSTRIES Inc said Its agri-products operations, which include grain and cotton divisions and the processing-re-fining division, had a pretax loss of U5591.25 million in the May 31 fiscal year, compared with a pre-tax net of $19.2 million for fiscal 1976. The company made theReuter - 126 words
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467 1977-09-01 5 Reuter FRANKFURT, Wed. Latin American borrowers plan to raise a record 400 million marks through mark Eurobonds next month, nearly half the total new issue calendar for September, bond market sources said. These borrowers have made use of the high liquidity on the GermanReuter - 467 words
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104 1977-09-01 5 Reuter INDEPENDENT auditors in the US are now required to advise a company's senior management and the board of directors or audit committee of any material weaknesses in the firm's internal accounting control coming to their attention, the American Institute of Certified Public Accountants announced.Reuter - 104 words
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Article100 1977-09-01 5 Reuter GENERAL DYNAMICS CORP said Burmah Oil of Britain has cancelled contracts for two liquefied natural gas (LNG) tankers scheduled to be built at its Qulncy, Massachusetts shipyard. General Dynamics said the contracts have cancellation provisions and require Burmah to pay US$l5 million plus all costsReuter - 100 words
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Article52 1977-09-01 5 Reuter AMERICAN MOTORS CORP said Its 1978 cars and Jeeps will go on sale on Sept 19, several weeks before other US car makers. The company said the early Introduction is designed to give dealers a competitive edge. American Motors is Introducing a new luxury compact model, theReuter - 52 words
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193 1977-09-01 5 ASIAN COMPANIES Reuter MELBOURNE, Wed Comalco showed an extremely strong profit rise In the half-year ended June 1977, with net consolidated operating earnings practically doubling from AW.72 million to $17.2 million. Sales advanced to $187.4 million from $141.5 million. The interim dividend hasReuter - 193 words
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Article200 1977-09-01 5 AFP MELBOURNE. Wed Australia's biggest mining group, Conzlnc Rlotlnto of Australia, has had a further strong profit recovery In the latest half with earnings up 45 per cent. Interim dividend has been lifted from A3.5 to 4.5 cents a share but directors have tempered the newsAFP - 200 words
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Article52 1977-09-01 5 Reuter FRANKFURT, Wed.. The 100 million mark 6 3/4 per cent eight-year Eurobond for the Malaysia government Is expected to be priced around 99v* percent, bond market sources said. Repayment will be In one single amount after the eight years and Is provisionally set for Sept 1Reuter - 52 words
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Article60 1977-09-01 5 Reuter LONDON, Wed. The Commonwealth of Australia 8* per cent 1992 Eurobond has been Increased to Allso million from $100 million and priced at 99v*, lead manager Deutsche Bank AG said. The $100 million of 7V» per cent 1984 Euro-notes Issued by Australia have also been pricedReuter - 60 words
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Article34 1977-09-01 5 Reuter LONDON, Wed. This week's batch of UK Municipal Authority oneyear bonds bears an BV4 per cent coupon and Is priced at Cr, both unchanged from st week, market sources said. Reuter.Reuter - 34 words
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165 1977-09-01 5 Reuter TOKYO, Wed. New South Wales Electricity Commission and Taiheiyo Engineering Corp have agreed to forin a Joint venture to supply steaming coal to Japan, state Premier Neville Wran said. The New South Wales Electricity Commission will own 51 per cent of the venture and TaiheiyoReuter - 165 words
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119 1977-09-01 5 Reuter NAOOYA, Wed. Toyota Motor Co Ltd plans capital outlay totalling 165 billion yen in the current fiscal 1977 ending next June for equipment Investments and development of safety and emission control measures, president EIJI Toyota said. This Is nearly 50 per centReuter - 119 words
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Article97 1977-09-01 5 UK COMPANIES Reuter BEECHAM OROUP finance director Ted Bond said the company does not rule out the possibility of a stock split but the board has not considered the matter and no decision has been taken. Beecham shares were up 7p on Tuesday at 610p followingReuter - 97 words
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67 1977-09-01 5 Reuter STANDARD CHARTERED Bank Ltd said It sold on undisclosed terms Its stake of about 26 per cent In Union Zalrolse de Banques to Geneva-based Ste Flnanclere Pour Les Pays D'outre-Mer (SFOM). SFOM already has banking interests in several other African countries, Standard Chartered noted.Reuter - 67 words
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Article104 1977-09-01 5 Reuter OVER 13,000 workers have been laid off at British Leyland plants in the UK because of shortages of parts from outside supplies a Leyland spokesman said. A strike at Lucas Industries Ltd has caused shortages of electrical components resulting In 11,600 lay-offs on the Princess,Reuter - 104 words
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109 1977-09-01 5 Reuter SHELL CHEMICALS UK Ltd said It agreed with Essochem Europe Inc for It to have access to 40 per cent of the output from Esso's planned 500,000 tonne per year ethylene plant at Mosmorran, Scotland. The plant, which Is subject to boardReuter - 109 words
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Article99 1977-09-01 5 Reuter LUCAS INDUSTRIES Ltd subsidiary of CAV Ltd, said it won a contract to supply 250 fuel Injection systems, daily from January, 1978 to Volkswagenwerk for use in its dlesel powered Golf. CAV said although the dlesel Golf has been on the German marketReuter - 99 words
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Article118 1977-09-01 5 EUROPEAN COMPANIES GENEVA, Wed. Purchase of the Leclerc Bank by Swiss Barclay's should be re-negotiated, an association of Leclerc creditors said here yesterday. The association, chaired by David Wharrle, financial director of A.G.B. Research of London, said Barclay's had carried out a good operation for itself118 words
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Article173 1977-09-01 5 Reuter WOLFSBURG, Wed. Volkswagenwerk AG said Its turnover rose by 12 per cent to 12.54 billion marks in the first six months of 1977 from 11.15 billion in the same period of last year. First-half vehicle production Increased by three per cent to 1.18 millionReuter - 173 words
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Article55 1977-09-01 5 OBERHAUSEN, Wed. Deutsche Babcock said Its group unit Balcke-Duerr has orders worth 11 million marks to supply 11 centrifugal cooling pumps to natural gas. liquefaction plants in Abu Dhabi and Indonesia. Six pumps are intended for the Bp trading plant in Abu Dhabi, while five'will go to the Pertamlna55 words
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Page 5 Advertisements
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Advertisement389 1977-09-01 5 LIABILITIES AND SHAREHOLDERS EQUITY DEPOSITS FUNDS BORROWED DRAFTS AND REMITTANCE PAYABLE OTHER LIABILITIES SHAREHOLDERS' EQUITY CAPITAL RESERVES UNDIVIDED PROFIT LIABILITIES ON GUARANTEES AS PER CONTRA December 31, ***** 7,602.759,113.21 December 31. 1975 5.913.359.079.72 Bangkok Bank Limited (Incorporated in Thailand) BALANCE SHEET AS AT DECEMBER 31, 1976 41,534,423,107 2,817,0(7,091 95 1.377,756,911389 words
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Article2390 1977-09-01 6 1*77 Gr'i CJr'» Not Low Company Last div Div y'ld P/E Vol Dav High Sale +or- e'vr High Low SECTION ONE INDUSTRIALS 154 136 Acma 143 unch 12.0N 1.8 8.3 6.7 2 143 143 204 172 Alcom 172 10.0 0.5 5.8 27.7 116 58 Allied Choc 1132,390 words
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Article, Illustration655 1977-09-01 6 SHARES tended lewer ■cross the board on the Stock Exchange of Singapore yesterday. With the withdrawal of speculative interest, much of the vigour had left the market. This was particularly evident in Section Two where turnover and the spread of interest were very much reduced. Brokers generally655 words
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Article1261 1977-09-01 6 BID and offer prices officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of 1000 units unless otherwise specified All Time Settlement Contracts are quoted after the word "Sett Big Board1,261 words
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Article50 1977-09-01 6 STRIKING price* of thr stock option* officialK listed on thr Stock H*ch>.i*r of Singapore, the periods, bid and offe* prices and business done yesterday, with the number of options traded shown in brackets. UOB (Dec $3.20) (0.118 0.208) (March $3.20) (0.218 0 255) UOL (Sept *1.00) (0.058 0.108)50 words
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Article153 1977-09-01 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Minifm print for Sept I| (Current pi rice*) The Commerce.... 1.75 1 85 INCOME BOND 1.07 1.13 The Saving Fund S'pore Prog Fund S'pore Security Fund S'pore Invest Fund 1.03 1.09 0 88 0 93 1 56 1 65xd 102 108 MARA153 words
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Article169 1977-09-01 6 Keppel 9% 1983 (100.000) (102V«B 103'«S) Keppel 8 3/8% 1984 (100.000) (1038 103 v*S) Korea D B 9 1/2% 1981 (100.000) (99*«8 100*S) N M B 8 1/2% 1983 (100.000) (100*B 101 V«S) Orient Leasing 8 1/4% 1982 (100.000) 103*S) S I A D Mark 8 3/4% 1983169 words
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Article144 1977-09-01 6 Rep Spore D Mark 7% 1982 (100.000) (101%8 101HS) Rep Spore 6 1/2% 1983 (100,000) (1008 100HS) Rep Spore 7 3/4% 1987 (100.000) (100 SB 101S) 5 1/2% 1/12/77 (250,000) (100.478 100.575) 5% T F 1/3/78 (250,000) (101.508 101.668) 5 1/2% 1/4/78 (250,000) (101.068 101.21S) 5 1/2% 15/4/78144 words
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Page 6 Advertisements
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Advertisement176 1977-09-01 6 Confront Singapore's decision makers in Business limes For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who176 words
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Article1349 1977-09-01 7 On August 30 TRADING in options on the Chicago Board Options Exchange came to 85,048 contracts on Tuesday compared with 72,494 contracts on Monday. OPTION OCT JAN APL STOCK Alcod Alco* Alcoa Am Tel Am Tel Am Tel AUR AUR Avon Avon Bank Am Bank Am Bank1,349 words
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INTERNATIONAL STOCK MARKETS
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Article345 1977-09-01 7 HONOKONO: The market closed lpwer m quiet trading on Wednesday after a firm opening on overseas buying, dealers said. The Hamr Bng index fell 249 points'to doee at 427.7$ Hoaghoagßaak fell 90 cents to HKSIITO ~II tfc—g Lead Ore to 16.88, Whsslsek llardaa 13.90 cents to $2.88 Jaritae Matkeeoa345 words
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Article503 1977-09-01 7 TOKYO: Share prices rose for the sixth consecutive day on Wednesday, with volume reaching Its highest level In four years, dealers said. The Dow Jones average rose 0.53 to 5,243.40, with volume 850 million shares. The New Index gained 1.10 to 388.88. Nippon Steel added two to 120, Nippon503 words
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Article447 1977-09-01 7 SYDNEY: The market cloeed generally firmer in more active trading on Wednesday with v several shares reaching year highs, dealers said. The Bydney All-ordlnarles Index roee 1.32 points to close at 426.88. AAR rose 13 cents to AS 1.93, Coal and Allied five to $3.80 and Uuk three to447 words
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Article148 1977-09-01 7 MANILA: The market closed firm with all sectors' averages advancing modestly on Wednesday, dealers said. Turnover was lower at 3.87 million pesos from yesterday's 3.90 million. Leading mining Issues were steady, except Marladugae which lost a point. Oil leaders maintained their previous closing levels while In commercials Baa Miguel148 words
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Article98 1977-09-01 7 AUG SI Bahta Asia Fibre in ♦5 Bangkok Bank Ml unch Bangkok In rest 380 -a Bangkok-Me troBank 715 448 Berll Jucker unch CharoongThal Wire 1838 Dumex DusitThani 330 Faber Merlin FlrstTrust 1888 -3 Indo-Thal Industrial Finance Corp 1306 J And J Ho 274 -4 Jalaprathan Cement 181 unch98 words
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Article307 1977-09-01 7 AMSTERDAM: The market closed generally firmer tn quiet trading on Tuesday dealers said. Royal Dutch firmed 2.50 guilders after sharp declines yesterday and last week. Hoof ovens was the sole loser In Dutch Internationals. KNBM again firmed and closed 4.50 guilders higher. Shares with gains between one and two307 words
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Article159 1977-09-01 7 BRUSBELB: Shares closed mostly lower with narrow price movements In quiet trading on Tuesday, bourse sources said. Acoc, St. Rock and Tractioa gained but Vlolle Mosttfi*, Bruxellct Lambert, Clabecq. Wagona-Lits, and UCB were all lower. In foreign stocks, UK roae, Germans were mixed, Dutch mixed to lower, French mostly159 words
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Article302 1977-09-01 7 FRANKFURT: Shares closed lower in quiet trading, with month end considerations dampening activity, dealers said. Among larger movers, Varta gained four marks and VW 1.40 after U reported higher six months turnover. Daimler lost 1.80. Major chemicals were mostly maintained with Bayer down 0.10 marks after announcing lower first302 words
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Article152 1977-09-01 7 MILAN: Share prices rose sharply In active trading on Tuesday following the recent credit restrictions and bank rate reduction, dealers said. Flat was sharply higher, in continuation of past gains. Aaaicurasieai Generali, Generate Immobiliare, Montedison. Snia Viscoea, both Olivetti* and both Pirellis firmed. Bonds were selectively higher In moderately152 words
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Article317 1977-09-01 7 PARIS: The market was steady with a firmer bias In thin trading on Tuesday, helped by the recovery on Wall Street, dealers said. Constructions were mixed, foods advanced. Michelin and Peucot-Citroaa were firm. Chemicals were quietly firm with Rhone-Pouieac gaining. Foreign stocks were higher behind U8 Issues, although Germans317 words
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Article310 1977-09-01 7 ZURICH: The market firmed slightly on selective demand on Tuesday, with Swissair bearer continuing higher on consideration of half year results dealers said. Swissair registered stock however, closed barely steady. Major banks were mostly neglected apart from slightly higher Kreditaastalt bearer. In flnanclals, both Bally shares rose on renewed310 words
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Article275 1977-09-01 7 JOHANNESBURG: Ootd shares were steady on renewed local Interest following higher bullion indications, dealers said on Tuesday. Mining flnanclals were occasionally softer. Elsewhere. De Bears finished two cents below the days high at 518. Coppers were quiet, and firmer where traded, while platinums were mixed. Tin Issues were generally275 words
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Article309 1977-09-01 7 TORONTO: 8hare prices closed sharply lover In moderate trading on Tuesday after large losses In the final hour. The composite Index was off more than 4 1/2 points and declining Issues outnumbered gains 228 to 141. Among companies reporting higher earnings, Biltmore Industries added five cents to C$3 Brucu309 words
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Article1198 1977-09-01 7 NEW YORK: HlnU from the Carter Administration that some form of wage and price benchmark might be needed to hold down Inflation sparked a late selling wave on Tuesday, reversing an earlier advance on the New York Stock Exchange. The selling began late In the session, following statement!1,198 words
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Article61 1977-09-01 7 FINANCIAL TIMES INDUSTRIALS Tuesday 490.9 Monday 404.5 Week Ago 483.7 DOW JONES AVERAGE INDUSTRIALS Tuesday 856.89 Monday 864.09 Week Ago 865.56 LONDON DOLLAR PREMIUM Tuesday 86* to 87* Monday 85* to 86 H.R. HANG SENG Tuesday 430.22 Monday closed Week Ago 421.13 ALL ORDINARIES Tuesday 425.34 Monday 424.01 Week61 words
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Advertisement416 1977-09-01 7 BUSINESS TIMES Airline Directory 110-112 Show Centra, Orchard K«W, (T«l: 377.111) Air Coyion 302-1, M Floor, Marina Houm <hinfnn W M (1 wf VII ww WT f vNIOTBOTV I (Tal: *****00) Air Franc* A ft nnf I/"! wwvw. rivvi i wv wwvßii| Sinaaaara 1 (Tal: *****11) IMi Floor, UIC Ouildinf,416 words
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COMMODITY REPORTS AND PRICES
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Article376 1977-09-01 8 ON the Singapore rubber market yesterday, opening quotations were marked up 0.50 cent in line with higher London advices but fell back gradually on lack of buying support to overnight levels, dealers said. Trading was slow and thin due to the closure of the Malaysian376 words
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Article222 1977-09-01 8 Prices In cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S. prompt f o b. 202.25 203 25N 202.25 203.25N Int. 1 R.S.S. September 203 75 204.25 203.75 204 00 Int. 1 R.S.S. October 205.75 206.00 205 75 206 00222 words
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Article81 1977-09-01 8 C.I F Rotterdam. OS dollars per ton. LONDON Tuesday Previous Malaysia 5S ffa bulk: Nov Sumatra 5S Aug Sept Oct Nov Dec Jan Nigerian 5% ffa bulk (Sterling per long ton) ROTTERDAM Sumatra: Oct Zaire (Belg frans per kilo) 425 sir 5452.50 sir 487/487 50 pd 440 sir81 words
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Article336 1977-09-01 8 LONDON, Wed. Futures reached £40 limit up at the opening with distant September bid at £2,080 per tonne. At the subsequent special call, the market finished with gains of £51 to £26 In the traded positions. Turnover totalled 857 lots. Market sources said fresh buying and shortcovering was prompted336 words
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Article452 1977-09-01 8 PRICES finished mixed In very quiet and featureless trading on the Singapore produce market yesterday. Coffee beans continued to display an easier tendency under the influence of conditions prevailing overseas. Though cheaper offers were held out by origins, exporters here remained generally disinclined as the coffee market had452 words
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Article515 1977-09-01 8 LONDON, Wed. Coffee futures opened steady, £65 to £35 higher on a turnover of 414 lots. Near September position stood at £2,882 after trading in a narrow range of only £20. Traders said shortcovering appeared to follow the US geological survey report of a strong earthquake near the north515 words
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Article189 1977-09-01 8 BANGKOK, Wed. Indicative prices quoted heiV today were unchanged from yesterday as follows: (US dollars per tonne, fob bull Bangkok) White Rice: 100 pet Ist class 306.100 10 pet 253, 15 pet 250. 20 pet 247, 25 pet 238. 35 pet unq. Broken: A-l Super 183. A-l Spcl 180.189 words
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Article186 1977-09-01 8 LONDON, Wed. Tin rose by £60 for cash and around £46 for Three Months standard metal. High grade was £52 and £50 higher respectively. Values edged up, aided by some buying encouraged by the trend in copper, dealers said. A widening In the standard backwardation to around £60 from186 words
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Article360 1977-09-01 8 LONDON, Wed. Terminal sugar opened £0.85 to £0.25 per tonne higher than yesterday's afternoon closing levels. Sales totalled 522 lots. Dealers said the market initially advanced from last night's steady kerb levels on trade buying but scale-up selling, also mainly by the trade, halted the rise. Near October moved360 words
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Article285 1977-09-01 8 HONGKONG, Wed. The cotton futures market closed generally easier In moderately active trading, following the overnight decline In New York, dealers said. Otober was traded for the first time since July 18, with a local spinner believed to have taken these lots at 55.5 US cents per pound,285 words
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Article184 1977-09-01 8 CHICAGO, Wed. Soybean futures closed just below the day's highs, posting gains of eight to 11-1/4 cents a bushel. The larger-than-expected export Inspections last week, increasing expectations of a later harvest because of rains in the Midwest and strength In the cash meal market encouraged early speculative buying. Prices184 words
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Article86 1977-09-01 8 CHICAGO, Wed. Wheat futures yesterday registered gains of 1/2 to 1/4 cent a bushel at the cldfee, after trading to either side of Monday's close In a narrow price range. The announcement by the USDA of a 20 per cent wheat set-aside, compared with average trade expectations of 1586 words
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Article279 1977-09-01 8 LONDON, Wed. Copper wire bars gained £5.50 per tonne all round. Dealers said the firm trend was aided by overnight gains In US futures. Some fresh buying was encouraged by recent market steadiness which has Improved aentlment. Modest West German demand was a further supporting Influence, sources said. Some279 words
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Article240 1977-09-01 8 LONDON, Wed. Silver closed the morning around 0.6 pence per troy ounce up for cash and 0.5 pence higher for Three Months Values hardened on gains at New York and the trend in base metals, dealers said. But after opening the ring at 260.7 pence for Three Months, prices240 words
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Article101 1977-09-01 8 LONDON, Wed. Zinc was £9.50 higher for cash and £9 up for Three Months. Dealers said the firm trend initially reflected higher copper, but later a good trade Interest, believed to be against continental physical demand, developed. Three Months traded from £308 In the premarket up to £316 by101 words
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Article320 1977-09-01 8 ON the Singapore market, the kllobar opened 5530.00 higher at 5511,578. Prices firmed to closed at. SSI 1,593 In thin trading. In London, the metal opened at U*****.80/20 and was bid up to close at U*****.20/35. Source: Singmaa Retail prices per tael quoted by the Singapore Chinese Gold and320 words
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Article103 1977-09-01 8 LONDON, Wed. Lead gained £4.75 for cash and £4 for Three Months. Market sources attributed the firmer tone to fresh buying and shortcovering attracted by improved sentiment In copper. Three Months traded from £317 on the premarket to £320.50 by the end of the ring. Turnover totalled 3.025 tonnes103 words
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MONEY AND EXCHANGES
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Article478 1977-09-01 8 ON THE local forex market yesterday, trading was on the quiet side with the US dollar easing marginally against major currencies. The weakness of the US unit was attributed to reports of the poorer performance of the US economy as pointed out by key Indicators and the half-point rise478 words
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Article47 1977-09-01 8 ACBC S'< c>, AI|«imm Bank Citibank Bangkok Bank 7 HSBT fi». Bank of America c*-< Bank of China 7 61. Bank of Tokyo (>• Bank Nefsra OCBC M Indonesia 7 OL'B Chartered Bank e>4 UCB 7 Chase Manhattan 6»« UMBC 7 DBS CH L'OB CS47 words
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Article172 1977-09-01 8 Asian rates ASIAN currency deposit Interbank rates u at close on Aug 31: 7 day* 1 mth 2 mths 3 mths 6 mths 9 mths 12 mths L8 Dollar* (Spat) Offer Bid 5 3/8 S 1/4 5 3/4 S V* 6 1/16 5 15/16 6 3/8 1/4 6 9/16 6172 words
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Article51 1977-09-01 8 RANQE of price* offered by discount house* on Aug 31 Overnight to 3*« Call deposit 3* to 3* ClMlM Bay Sellin* 3-Month Treasury 3 1/16 2 15/16 3-Month Bank bills 4 3/8 4 1/4 3-MonthsCD 4 3/4 4 va 6-Months CD 5 1/16 4 15/W Source: National Discount Co.51 words
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Article155 1977-09-01 8 Euro rates LONDON, Wed. Eurodollar deposits were slightly easier in light trading, dealers said. The loss of an extended weekend dealing because of Monday's US Labour Day holiday pushed rates lower among shortdates. Seven days fix eased to 5 3/8, 5 1/4 but Thursday/ Friday held its level around 23155 words
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Article38 1977-09-01 8 THE Monetary Authority of Singapore Invites banks and discount houses to tender a total of $20 million 01-day Treasury bills to be Issued from Sept 5 to 9. Each tender must not be less than $250,000.38 words
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Article167 1977-09-01 8 NEW YORK, Wed. The dollar yesterday closed weaker on balance than Monday night after the release of US economic statistics that were read as tending to confirm fears about slower growth In the balance of the year, dealers said. US leading indicators fell 0.2 per cent In July167 words
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Article200 1977-09-01 8 LONDON, Wed. Sterling rose quickly to U551.7429/31 in early trading from 1.7422/24 overnight, benefiting from the generalised follow-through weakness of the US dollar In thin trading, dealers said. The pound then moved slightly lower, as the Bank of England was believed by operators to be holding It at an200 words
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Article102 1977-09-01 8 TOKYO, Wed. The US dollar for overnight delivery closed at 267.43 yen compared with a 267.50 opening and 267.30 at yesterday's close. The US currency met demand from importers and banks while sales of dollar export bills by trading firms were less than expected, dealers said. The dollar for102 words
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Article76 1977-09-01 8 HONGKONG, Wed. Thf US dollar eased slightly in moderately active trading to 2.3170/80 marks from its 2.3196 New York mid-point close after opening lower at 2.3165/75 and rising to 2.3190/ 3200 dealers said. Banknotes rates quoted on Aug 31: US 4.62-4 64 UK 8 07-8.17 Burma 1.00-1.50 India 4.60-4.80-,76 words
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Article47 1977-09-01 8 FRANKFURT exchanges opening quotes on Aug 31: US 2.3175/ 85 Can 2 .1545/ 85 UK 4.039' 045 Neth 94 88/ 78 Swltt MM 97.M Italy 2 828/ 834 France 47.25/ 30 Norw 42.51/ 81 Brig (com) 6.500/ 510 Belg (fin) 8.50/ 51 Japan 0 8885/ 7547 words
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Article54 1977-09-01 8 ZURICH exchanges closing quotes on Aug 30: U8 2 3010-3025 UK 4 1850-1885 Can 2.2270-2205 W Oerm 102 M-103 07 Neth 07 50-72 Prance 48 70-75 Belg 8 70-1/4-71-1/4 Denm 38 82-88 NOrv 43 84-88 Swed 40.37-43 Italy 0 2715-2718 Austria 14 48-51 Port SM-8M Spain 2 83-1/4-83-3/4 Arg54 words
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Article56 1977-09-01 8 AUSTRALIA/NZ exchanges on Aug 31: Australia Sterling 0 8378/0 8308 US dollar 1 1075/1 1027 Ninety-day air mall buying rates Sterling 0.8638 US dollar 1.1328 Ninety-day forward buying rates Starling 0 8338 US dollar 1.M71 New Zealand: Sterling 0.55W/0 5630 US dollar 0 9750/0 9850 Ninety-day forward rate: Sterling56 words
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Article332 1977-09-01 8 LONDON, Wed. US dollar Eurobonds traded quietly and were up to 1/8 point firmer where changed, dealers said. Guilder bonds were quiet and steady while Canadians followed the firm trend in US issues in light trading. Convertibles showed little change. Eurobonds opening quotes Straight* Bid Offer Austria 8*4 90332 words
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Page 8 Advertisements
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Advertisement382 1977-09-01 8 from Penguin BELLOW 1976 Nobel Prizewinner I q ;rT 1976 Nobel Prize Winner is at his best again in his latest book To Jerusalem and Back'. As with his recent best-seller 'Humboldt's Gift', Bellow's brilliant images emerge at frequent intervals like sunshine through fog, witty, clever, radiantly imaginative and without382 words
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TRANSPORT AND COMMUNICATIONS
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645 1977-09-01 9 THOMAS LOVE - By THOMAS LOVE Washington Star GOVERNMENT agencies should launch a massive programme to convince Americans that they should buy the most fuel-efflclent cars available, the General Accounting Office has concluded In a report critical of current efforts. The OAO recommends, among other things, that theWashington Star - 645 words
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Article154 1977-09-01 9 Reuter TOKYO, Wed. The Shipbuilders Association of Japan (SAJ) said yesterday It had turned down a request from Greek owners for help to tide over losses caused by the yen's appreciation for payment of ships built In Japan. It said they nad suffered losses stemming fromReuter - 154 words
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Article360 1977-09-01 9 Reuter FRANKFURT, Wed. West German domestic demand for motor vehicles may have peaked following the sharp recovery from the 1974/75 recession, Motor Industry Association president Johann Von Brunn told reporters. There are signs the peak has been reached even though demand has lessened aheadReuter - 360 words
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152 1977-09-01 9 Reuter TOKYO, Wed. Japanese vehicle exports surged ahead in July with a 4.8 per cent increase over June and up 14.7 per cent from the same month last year, the Automobile Manufacturers Association said yesterday. Exports to the United States rose 14 per centReuter - 152 words
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Article, Illustration398 1977-09-01 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Aegis Pioneer (SVMW) (0700 after Makeverett) 40/41 Barcelona Mara (hauls 37m East after Straat Lagos) 8/9 Dong Nam (1100) 25/26 Ever Reliance (Clinker) (1230 tide) (Muststarboard to) (after Slam Rainbow hauls) 5 Olenlyon (after Hoegh Orchid) (Class I on board) 47 Oolden Hill398 words
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210 1977-09-01 9 UPI WASHINGTON, Wed. The Justice Department announced yesterday It has asked the Civil Aeronautics Board to Investigate a Trans-Atlantic low-fare "cartel agreement" by the major airlines that might drive out competition by charter and specialised carriers. "Hw department's request, was prompted by an InternationalUPI - 210 words
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402 1977-09-01 9 TOUR agents are viewing with mixed feelings the growing number of ln-house holiday programmes of fered by airlines. The airlines named include Singapore Airlines, Malaysian Airline System, Philippine Airlines, Qantas, Cathay Pacific Airways, British Airways and Air New Zealand. While most operators402 words
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Article50 1977-09-01 9 AFP BANOKOK. Wed. Commercial aircraft from North Korea, Poland, Israel and Spain will begin landing at Don Muang Airport this week. Civil Aviation Director General Air Marshall Surayuth Nlvartbutr disclosed yesterday. The move will bring the total number of airlines flying through Bangkok to 38, he noted. AFPAFP - 50 words
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Article276 1977-09-01 9 AP LONDON, Wed. North American grain operations in both the voyage and time charter sections commanded principal Interest yesterday as London markets resumed business after the prolonged weekend. Movements of grain from the Oreat Lakes were, however, limited and were confined to a booking of a 13,500-tonnerAP - 276 words
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Article216 1977-09-01 9 SHARJAH SHIPPING Is Incorporated in the United Arab Emirates (UAE) State of Sharjah. It owns and operates four vessels on a regular liner service from Singapore to West Asian ports. This service has been In operation since 1974. All the ships sail under UAE flags. In response to216 words
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Article81 1977-09-01 9 CATHAY Pacific Airways (CPA) will extend Its computerised reservations system (CPARS) to Singapore later this year. Passengers and travel agents will then be able to obtain correct and Instantaneous confirmation on all CPA flights. CPA offices in Tokyo, Osaka, Taipei and Bangkok are currently served by the81 words
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Article584 1977-09-01 9 ARRIVALS 8errk* Loa Operator Number Tba ll FT— SLA SQ582 0035 MAA/CMB CPA CX003 0145 HKO MAS MH682 0810 KCH CPA CX710 1000 HLP OIA QA980 1030 HLP SIA SQ211 1045 HLP OIA OA 944 1055 PKU OIA OA908 1100 MES PAL PR501 1115 MNL RBA BI325584 words
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Article122 1977-09-01 9 BARBER Blue Saa's new Combo vessel "Tsu" has arrived In Singapore on her maiden voyage. This 21,300 dwt vessel Is the first of the 10 Combo vessels built for Barber Blue Sea to replace some of the line's present fleet. All 10 vessels will be122 words
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Advertisement460 1977-09-01 9 MALAYSIAN BUSINESS. the monthly business and Economics journal of Malaysia, offers you in its AUGUST 1977 issue: TEN YEARS OF ASEAN The Bangkok Declaration of August 8, 1967 brought into being the Association of South-east Asian Nations (ASEAN). For guite a while, the Association did not seem guite sure what460 words
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Article, Illustration903 1977-09-01 10 JAMES RESTON - By JAMES RESTON NYT WASHINGTON: In the last few days, there has been a definite change In the White House attitude, not towards Bert Lance personally, but towards the Lance "problem." Publicly, his Georgia colleagues are still supporting him, but privately andNYT - 903 words
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Article, Illustration1033 1977-09-01 10 WILLIAM ROBINSON - By WILLIAM ROBINSON Reuter MADRID: The government of Prime Minister Adolfo Suarez has presented to the newly elected Parliament the first key measure of Its ambitious programme to bring Spain's ailing economy back to Its once robust health. The government's fiscal reform bill, designed toReuter - 1,033 words
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Article1104 1977-09-01 10 JOHN TAN - LOCAL MOTOR DEALERS By JOHN TAN MOTOR car sales this year In Singapore have been over 1,000 units monthly for the first seven months, which Is 60 per cent higher on a running basis than last year's level of 8,000 for the year, but1,104 words
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Article, Illustration716 1977-09-01 10 GRAHAM EARNSHAW - By GRAHAM EARNSHAW Reuter HONGKONG: Banknote counterfeiting is on the decline in this British colony despite a world-wide Increase in the Illegal trade. Hongkong has quite a reputation for money forging in South-east Asia, but according to a counterfeit expert, police chiefReuter - 716 words
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692 1977-09-01 10 ROBERT TRUMBULL - By ROBERT TRUMBULL NYT OTTAWA: With the Canadian economy In acute disarray, building developers have been left with millions of square metres of empty and unwanted office space on their hands in principal cities across the country, according to sources In the Industry. TheNYT - 692 words
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Advertisement154 1977-09-01 10 GAMBLERS HANDBOOK Yl 1 Hors^ MIP 5p° f Di<* I 7< ?n it ef U 161 by E. Lenox Figgis F.C.A. A procfricol handbook explaining how hotting tokos place on the world's most popular hotting pastimos, including horses, dogs, football pools, sporting events, casino games, such as craps, roulette, otc.,154 words
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673 1977-09-01 11 Reuter TAIPEH, Wed. Battered by typhoons and haunted by the spectre of "de-re-cognitlon", the resilient Taiwan economy is holding its own. The targeted growth rate this year is 8.5 per cent. But it has been affected bv the recent vicissitudes of the weatherReuter - 673 words
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Article236 1977-09-01 11 Reuter TOKYO, Wed. Japan was today air gently studying the Impact of a decision by seven South Pacific nations to establish 320-km fishing zones around their coasts, government sources said. But the Fishery Agency declined comment pending further details of the decision reached yesterday byReuter - 236 words
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Article95 1977-09-01 11 UPI TOKYO, Wed. The Bank of Japan decided to cut the official discount rate by 0.75 per cent to 4.25 per cent This is the third reduction in the Government's lending rate to commercial banks this year and the lowest In the post World WarUPI - 95 words
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Article364 1977-09-01 11 AFP SHIMODA (Japan), Wed. Seventy-seven US and Japanese scholars and diplomats will begin fourday private-level talks here tomorrow to size up USJapanese relations and the political situation In Asia following the 1975 Vietnam debacle. It Is the first time the meeting, known as theAFP - 364 words
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174 1977-09-01 11 AP TOKYO, Wed. Japanese trade with China for the first seven months this year totalled US$l.B4 billion (554.41 billion) down 4.2 per cent from $1.92 billion for the corresponding period last year, the Finance Ministry said today. The ministry said exports totalled $1AP - 174 words
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156 1977-09-01 11 Reuter BONN, Wed. West Oerman Chancellor Helmut Schmidt said It Is a mistake to think that the world's present economic problems can be dealt with by shortterm measures. The effects of the worldwide economic crisis have lasted longer than expected, and deep structural changes haveReuter - 156 words
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Article36 1977-09-01 11 THE M V Songkhla, a 24,000 dwt semi-container vessel belonging to EAC Lines, will make her maiden call at Singapore today. She sails in from Manila and will leave for Bangkok tomorrow for Vancouver36 words
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322 1977-09-01 11 UPI TOKYO. Wed. Japan and the United States are expected to reach broad agreement over operation of Japan's Tokal Mura nuclear reprocessing plant after ironing out technical details concerning the use of plutonlum, a by-product and an Ingredient for nuclear weapons. The JapaneseUPI - 322 words
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193 1977-09-01 11 Reuter TOKYO, Wed. About half of Japan's business community dislikes the heavy Inroads of English words Into everyday Japanese, accordlng to a survey published here this week. The number of English terms In Japanese conversation Is far greater than in either French or Oerman,Reuter - 193 words
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98 1977-09-01 11 AFP HONOKONO, Wed. Hongkong's Assistant Director of Civil Aviation Norman Latham, left today for London to attend air negotiations between the United Kingdom and West Germany, the government announced today. Mr. Latham will join the British delegation at the talks due to startAFP - 98 words
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309 1977-09-01 11 UPI NEW YORK, Wed. South Korea'a economy is growing at rapid rate and the profits are being passed on to all levels of Korean society and not only the elite. Fortune magazine said in its September issue. Ihe magazine also said that despiteUPI - 309 words
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Article167 1977-09-01 11 Reuter HONGKONG, Wed. Vietnam has called for an annual Increase of 8 per cent In food production to solve the country's food problem, the Vietnam news agency reported yesterday. The official dally, Nhan Dan, quoted by the agency, said rice made up approximately 80Reuter - 167 words
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Article61 1977-09-01 11 FLIGHTS arriving and departing at Heathrow AlrSrt in London are now bel cleared more or less on time because of the reduced number of flights operating through the airport. With revised planning of schedules throughout Britain, air controllers at Heathrow do not have problems with congestion61 words
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421 1977-09-01 11 UPI WASHINGTON, Wed. Indian Commerce Minister Mohar Dharia said yesterday the Indian Government would honour any contracts under which American firms Invest In India. "Whatever agreement is reached between the Indian Government and foreign Investors, the terms of the contractUPI - 421 words
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Article150 1977-09-01 11 A LOGGING seminar on managing equipment costs for maximum Investment profits will be held at the DBS Building auditorium on Sept 8. Organised by P.T. Traklndo Utama, Caterpillar's dealer In Indonesia, the seminar Is expected to be attended by some 120 people Including loggers and150 words
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Article183 1977-09-01 11 Reuter SYDNEY, Wed. Australia's seasonally adjusted total money supply (M 3) rose As 44 million (SSIIB million) to $37.16 billion In July compared with a $381 million rise to $37.11 billion in June and a $456 million rise to $34.02 billion In July 1976, the ReserveReuter - 183 words
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Article40 1977-09-01 11 Reuter TOKYO, Wed. An Economic Planning Agency survey, showing a 7.8 per cent appreciation of the yen between December, 1976 and June this year, was only partially reflected in the retail prices of Japanese imports, the agency said.Reuter - 40 words
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393 1977-09-01 11 Reuter BRISBANE. Wed. China is interested In negotiating a long-term contract to buy sugar from Australia, the Queensland Minister for Primary Industries, Mr. Vic Sullivan said here yesterday.. Mr. Sullivan said the Australian government and the Industry are also interested In a contractReuter - 393 words
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87 1977-09-01 11 Reuter CANBERRA, Wed. Net foreign Investment in enterprises in Australia rose to A 5792 million (852.1 billion) in the fiscal year ended June 30 from $128 million in 1975-76, the Statistics Bureau reported. The 1970-77 Investment was the highest in any 'single fiscal yearReuter - 87 words
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177 1977-09-01 11 ALL homes for the aged and Chronic sick who wish donations to be exempt from income tax will now have to register with the Ministry of Social Affairs. In a statement yesterday, the ministry said that those charitable homes which have already been177 words
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Article49 1977-09-01 11 MOHAN'S Departmental Store will be holding a $5 million Jewellery exhibition from Sept 13 to 27. It will also conduct a storewide lucky draw during the period Involving some $90,000 in prizes. To be eligible for the draw, customers have to make a minimum purchase of $100.49 words
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410 1977-09-01 11 Reuter AP SEOUL. Wed. The government here yesterday approved US$BO million (*****.2 million) worth of loans from British and French banks to help finance the construction of an integrated machinery plant in South Korea. The loans are part of $265.9 millionReuter; AP - 410 words
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Article185 1977-09-01 11 Reuter PORT MORESBY, Wed. Papua New Oulnea Finance Minister Barry Holloway outlined a six-month budget here yesterday aimed at developing local businesses and industries. The budget's main feature was an 18 per cent rise in money allotted for "economic opportunities" for which 26 million klna (5578.9Reuter - 185 words
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Article138 1977-09-01 11 Reuter BONN, Wed. Mr. Ronnie De Hel, Sri Lanka's Finance Minister, will seek West German support for his country's economic development In talks here next week, the Sri Lankan embassy In Bonn said yesterday. He win explain measures the Colombo Government has taken to promote foreignReuter - 138 words
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138 1977-09-01 11 AFP PRAGUE, wed. Czechoslovakia will play a broad role in Iran's effort to Industrialise, a Joint communique said here yesterday at the end of a four-day official visit by the Shah. The Shah, who left for home yesterday told Czechoslovak leaders of the mainAFP - 138 words
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Article82 1977-09-01 11 AFP KUALA LUMPUR. Wed. Kontena Naslonal hopes to clear the backlog of 435 containers at Port Klang by the end of next week. Its assistant general manager. Nik Mohd. Zaln, said today that the bulk of the containers which were causing congestion at the port twoAFP - 82 words
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Advertisement360 1977-09-01 11 APPOINTMENTS AGRICULTURAL CHEMICAL MANAGERS WANTED FOR ASIAN ASSIGNMENTS Aggressive personable managers are needed by a large multi-national American agriculture chemicals and pesticides manufacturing company for each of the following zones, Indonesia, Malaysia Thailand Zone 1, India, Pakistan, Bangladesh Zone 11, and Japan, Korea, Taiwan Zone 111. The individual must be360 words
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Article, Illustration877 1977-09-01 12 WHILE speculators had their field day with the second and third liners in the Singapore stock market last month, Investors were generally left to brood over the lack of any significant upward thrust among the blue chips. Good stocks, worthy of Investment877 words
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391 1977-09-01 12 MATSUSHITA Electric of Singapore has embarked on an expansion programme Intended to double Its output of refrigerator compressors as well as diversify Into new products which have a demand here. Towards this end, Mr. Aklra Yamamoto, its managing director, told members of the391 words
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Article729 1977-09-01 12 LONDON. Wed. Stock prices advanced in active trading, dealers said, and at 3 p.m. the FT Index was up 8.5 at 499.4, at Its highest level since January 1973. Long-dated government stocks were up to 5/8 point higher with sentiment also affected by the strength of sterling, as729 words
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224 1977-09-01 12 THE Industrial Training .Board and the Singapore Manufacturers' Association have agreed to set up a working group to study more closely problems In the precision engineering Industries and draw up Integrated training schemes for the needs of the Industry. This follows a visit224 words
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298 1977-09-01 12 Reuter TOKYO. Wed. Japanese refiners offered to pay A 5269 (*****) a tonne for 1.8 million tonnes of Queensland raw sugar to be imported during the next three years In a "firm and final" proposal made to Australian growers, Industry sources said. TheReuter - 298 words
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610 1977-09-01 12 AP AFP BRUSSELS, Wed. South Korean Commerce and Industry Minister Chang Yleioon urged Common Market authorities yesterday to continue agreements that allow an annual 6 per cent Increase in imports of Korean textiles. Mr. Chang, ending a three-day visit, said he hopesAP; AFP - 610 words
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230 1977-09-01 12 Reuter CANBERRA, Wed. British Agriculture Minister John Sllkln promised here yesterday to help Australia regain access for its beef exports In the European Economic Community. Mr. Sllkln, In Australia for a one-week visit, said Britain sympathised with Australia's desire to resume exporting beefReuter - 230 words
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324 1977-09-01 12 THE chairman of the Nanyang University Council, Mr Wee Cho Yaw, yesterday rejected the Idea of a merger between Nantah and the -University of Singapore. Speaking at the University's annual general meeting, Mr Wee, who is also the president of the Chinese Chamber324 words
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164 1977-09-01 12 Reuter TOKYO, Wed. The Bank of Tokyo said today It had stopped issuing yen travellers' cheques following the appearance of forgeries In 17 countries. The bank stopped issuing 20,000 yen (SslB4) and 50,000 yen travellers' cheSues after forgeries In these enomlnatlons were discovered InReuter - 164 words
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Article160 1977-09-01 12 THE S2OO million Lucky Plaza In Orchard Road is to be completed according to schedule at the end of this month, a spokesman for the developers said yesterday. The spokesman added that keys to the various shops some selling well In excess of $1 million160 words
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143 1977-09-01 12 APPROXIMATELY 3,000 Keppel Shipyard employees are to benefit from pay Increases ranging from 3 to 13 per cent negotiated between union and management according to a collective agreement signed yesterday. But in return for the cash, workers have agreed to alterations In the shift143 words
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Article53 1977-09-01 12 SOME 30 Bosch dealers from the automotive division of Robert Bosch (South-east Asia) will be leaving for a trip to Germany as a result of the Bosch sales promotion cam- palgn held during the February-July period. The dealers, from Singapore and Malaysia, will leave for Germany53 words
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Advertisement190 1977-09-01 12 BANKING AND FINANCE CALCULATORS AND They're synonyms With SHARP, calculations are simply matters of putting figures right, quickly which they're pretty good at because SHARP CALCULATORS are specialists in figures be it simplified, complicated or scientific. Q E D (Quite Easily Done) with SHARP SHARP CS-2109D 12 digits with memory.190 words
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