The Business Times, 7 November 1977

Microfilm: NL9610
Total Pages: 10
1 10 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, NOVEMBER 7, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Supporting US$
      99 1 AFP TOKYO, Sun. Japan plans to Join forces with Britain and West Germany in asking the United States to prop up the slipping dollar at a monthly meeting of the Bank for International Settlements (BIS) in Basle tomorrow and on Tuesday, the Asahl Shim bun reported today. The
      AFP  -  99 words
    • Article
      Lock icon Buying technology
      60 1 AFP TOKYO, Sun. China plans to Introduce production technology for integrated circuits and large-scale integration from Japan. The Tokyo dally Asahl Shlmbun, quoting Japanese trade sources, said the Chinese desire for Japanese cooperation In the development of Its electronics Industry was conveyed by Chinese Deputy Premier LI Hslen-nlen
      AFP  -  60 words
    • Article
      Lock icon Dearer diamonds
      56 1 AFP LONDON, Sun. The De Beers group of South which has a virtual monopoly of world production of diamonds, Is to raise its prices by 17 per cent on average, It was learned here. The company said that a black market In gems existed because of exceptional demand
      AFP  -  56 words
    • Article
      Lock icon Car sales up
      68 1 AFP TOKYO, Sun. For the first time since May, Japan's new car sales in October rose by 3.8 per cent over a year earlier, the Automobile Dealers Association reported today. October sales totalled 306,091 cars, with sales of compacts and subcompacts accounting for 199,588 units, up 8.9
      AFP  -  68 words
    • Article
      Lock icon Australian aid dips
      64 1 UPI PARIS, Sun. Australian net official development assistance to poor countries dropped in 1976 but is expected to recover somewhat during J977. The development assistance committee of the OECD which met on Oct 28 found that Australian aid declined In 1976 to US$3B5 million (***** million) or
      UPI  -  64 words
    • Article
      Lock icon Marcos approves
      62 1 AFP MANILA, Sun. President Marcos has approved a proposal by Philippine wood exporters to set up their own shipping lines for the shipment of lumber and plywood to the other Asean states. Mr. Marcos had given his government's support for the project through financing and tax exemptions for
      AFP  -  62 words
    • Article
      Lock icon Rice exports soar
      60 1 Reuter KARACHI, Sun. Pakistan exported 277,000 tonnes of rice worth US$64 million (Ssls3 million) in the last four months, 28,000 tonnes more than the same period last year, officials said today. Its rice export target for the year up to next July is 850,000 tonnes. About 100,000
      Reuter  -  60 words
    • Article
      Unemployment cut
      30 1 WASHINGTON, Sun. A group of economists forecast today that among the seven major industrial nations they represented, only the United States and Canada would cut unemployment In 1978.
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    • Article
      Lock icon HK trade drive
      53 1 Reuter HONGKONG, Sun. Hongkong's Trade Development Council (TDC) Is planning about a dozen major projects to promote locally-made products overseas. The programme entails participation In trade fairs or talks with trade officials In Britain, Canada, Japan, the United States, West Germany and countries In West Asia and
      Reuter  -  53 words
  • Article
    TOP TEN STOCKS
    119 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 •ooo Nov 4 1977
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  • LOCAL STOCK INDICES
    • Article
      SINGAPORE
      75 1 Oct 31 Nov 1 Nov 2 Nov 3 Nov 4 tt B. T. Index: 415.93 418 55 422.28 434.00 431.78 Industrials: 259.38 259.05 259.51 260.79 261.12 <9> Finance: 418.73 417.40 417.49 419.20 419.58 Hotels: 171.54 171.61 172.26 172.51 172.36 Properties: 160.70 160.62 160.62 161.44 162.83 t Tins: 146.13 146.08
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    • Article
      MALAYSIA
      86 1 Oct 31 Nov 1 Nov 2 Nov 3 Nov 4 tt B. T. Index: 503.59 502.90 512.13 525.80 522.05 Industrials: 285.25 284.88 285.11 286.73 286.83 Finance: 362.50 362.18 361.36 364.37 363.54 Hotels: 177.69 177.69 177.69 177.69 178.19 Properties: 148.61 148.50 148.66 149.06 149.57 t Tins: 148.02 146.30 145.98 146.28
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  • Article
    Industry plans to raise investment
    636 1  -  BUSINESS OUTLOOK BRIGHTER By SOH TIANG KENG SINGAPORE'S industrialists are expressing a rosy view of the business outlook over the next six months and they will put their money where their mouth Is too, pumping new Investment Into buildings, plant and machinery over the coming
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  • Article
    Number of job seekers drops to 2-year low
    343 1 THE NUMBER of Singaporeans officially looking for new Jobs dropped to 30,532 In September, the lowest in two years, and there will be enough Jobs to absorb new school-leavers over the next 10 years. The September figure Is taken from the "live
    343 words
  • Article
    Western banks grab Arab building loans
    802 1  -  By COLIN CHEE LOCAL bankers and financiers have not seized the manv opportunities avalt&ble to them for financing property develop ment in West Asia. The blame lies on both sides. Western financial markets are financing the bulk of hotel and construction projects in the
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  • Article
    New company to sell leisure boats
    408 1  -  By TERESA LIM A NEW company, Tabur International (SEA), will be ready to begin business here this month. Not an unusual development In Singapore except for one thing It has no market here at all. Tabur says It will market a whole range of
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  • Article
    Singapore is world's fourth biggest banking centre
    248 1 SINGAPORE ranks fourth as a world financial centre, in terms of the number of banks represented here, according to local banker Mr. Hsuan Owyang, director and general manager of Overseas Union Bank. The top three centres are London, New York and Hongkong, he
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  • Article
    We may not be the pace-setter in 1980s
    630 1 SINGAPORE'S economy will grow faster than that of OECD industrial nations In the next few years. But It may no longer be the pacesetter in South-east Asia as Malaysia and Indonesia are Ukelv to overtake the Republic In economic expansion. This Is
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      30 1 foo *c\ w, Wiyfbong MAF A lending hand when Wavfoong Mortgage you need and Finance (Singapore) Limited It lllOSt Shaw House. Ground Floor. 354 Orchard Road. Singapore 9. TH *****7. =):|;\|>\$}`@/}~(:%|""!_+]]'%;_
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    • Advertisement
      Page 1 Advertisements Column 2
      93 1 m > /A > At Chase you get to check your checks With a current account at Chase, you don't just get a statement every month. We return all your paid checks too. So you can check the checks. For easier account reconciliation. And the returned checks are also proof
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    • Advertisement
      Page 1 Advertisements Column 3
      122 1 .&[^|!`](\=}%+<*(_'_>(;@<[|*$$' JAL FLIGHT 712: THE TOKYO EXPRESS —fc I I NEW YORK VANCOUVER I CAM 1 FRANCISCO kLOS 1 'ANGELES I I HONOLULU I SINGAPORE MEXICO CITY ♦•J: Only on JAL can you non-stop to Tokyo, then make convenient connections to U.S. and Canada. 39 JAL flights depart every week.
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  • Article
    MORE FOR ALL
    475 2 THE NTUC deputy director for productivity services will have made few friends by his uncompromising attack on managements' indifferent approach to productivity. Over the weekend he also lambasted "many in management and also In the Government" who believe that productivity schemes with built-in Incentives lead to higher
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  • REVIEWS
    • Article
      Lock icon Cehanovsky: Grand old man of the Met
      1215 2  -  By HAROLD SCHONBERG NYT NEW YORK: The spriest octogenarian around these days Is George Cehanovsky, an 58-year-old bundle of energy who can belt down three neat vodkas at lunch, finish off a bottle of wine and several courses, subject himself to a long
      NYT  -  1,215 words
    • Article
      Lock icon Mengelberg makes you think again
      1283 2  -  By JOHN ROCKWELL NYT NEW YORK: Philips Records' release of an eight-disc set containing the nine Beethoven symphonies plus the "Fidelio" overture conducted by Willem Mengelberg is of interest both In Itself and for the occasion It provides for a consideration of Mengelberg's posthumous reputation.
      NYT  -  1,283 words
    • Article
      Lock icon Three heads are better than two
      850 2 NYT NEW YORK: If two heads are supposedly better than one, three should be better still. And they are at least when It comes to tape recorders. While less expensive home recorders usually have two heads one to erase old recordings from the tape
      – NYT  -  850 words
    • Article
      Lock icon The Ritz is alive and well in the rock age
      796 3 NYT PARIS: Marcell Proust slept here. So did F. Scott Fitzgerald, Charlie Chaplin and Coco Chanel, who made It her home. Auguste Escoffler presided over Its kitchens, where chefs still labour at dawn to produce breakfast croissants and cocktail hour
      NYT  -  796 words
    • Article, Illustration
      Lock icon Funny reflections of the state of life
      1090 3  -  By WILLIAM SAFIRE NYT NEW YORK: In a hlgh-le-vel seminar at a Washington think tank last weekend, a federal Judge made a point about blame In society in this manner: "As Rollo used to say in the Katzenjammer Kids, he brought It on
      NYT  -  1,090 words
    • Article
      Lock icon Fashions think big but not bulky
      435 3 NYT NEW YORK: There is absolutely no question that the big, voluminous shape will be the dominant one In clothes for the next six months, probably longer. The trend Is so strong In the spring collections now opening on Seventh Avenue that the degree
      NYT  -  435 words
    • Article, Illustration
      One man's week
      1457 3  -  By PETER A.P. LYE MONDAY Began the morning rushing off to our Downtown Training Centre at Hotel RoyalRamada to kick off a new course on "Professional Salesmanship." Had 22 participants which was above our set target. Our courses emphasise practical application, and since the course centres on
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    • Article
      Lock icon Great wines by the glass
      657 3 NYT PARI§: If you are a lawer and have had a particularly wearing morning at the Palais de Justice, one of the most pleasant ways to recover Is to slip out the back, walk through the plcturesque little Place Dauphlne and duck Into the Tabac
      NYT  -  657 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      42 2 \v S M v.v SsW SSK ii s s i i ss S k s f£ \\v: +S >S\ So «s V* BALLY OF SWITZERLAND /i TAILORS STORE Isl HIGH ST CENTRE* OCEAN BULDMG* SUPREME HOUSE GOODWOOD. HUON, RAFFLES HOTELS COLD STORAGE
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      540 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 pm on Nov. 6 at Singapore airport. Maximum Temperature 30.4° C Associated Humidity 70 Minimum Temperature 23.8° C Associated Humidity 98 Hours of Sunshine 3.75 Rainfall in Millimetres 39.5 Total Rainfall for the Month 41.2 Total Rainy Days for the
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      343 2 SINGAPORE 5 3.00 Opening announcements followed by Kudumba Malar (Tamil Repeat) 3.30 Diary Of Events (Tamil) 3.35 Afternoon Matinee Sequoia Starring: Jean Parker, Russell Hardie, Samuel S. Hinds, Paul Hirst 4.45 Intermission 6.05 Opening announcements followed 4>y Inquiry Living T6gether 6.30 News in Brief" 6.35 Marine Boy" 6.05 PM Opening
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      221 3 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 financial
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  • Article
    Lock icon End of an era for big deals in leasing
    1241 4  -  By WINSTON WILLIAMS NYT NEW YORK: In 1963 Pan American World Airways, like much of the smart money, began playing the newest game in high finance. Rather than buying three 7075, at U556.64 million (5516.2 million) per plane, signed a 13-year
    NYT  -  1,241 words
  • Article
    Lock icon President's men and Federal Reserve bury the hatchet
    1343 4  -  By THOMAS MULLANEY NYT WASHINGTON: Government economists, like every one else, have shaded their expectations for the American economy's performance for next year after looking at figures for the most recent quarter, whlchone high administration official conceded did not particularly please him.
    NYT  -  1,343 words
  • Article
    Lock icon Hated and punished for enjoying the reward of hard work
    1233 4  -  By DEBORAH RANKIN NYT s i NEW YORK: An economist for a New York bank was f I brooding bitterly oyer the 5 i future of the expense ac- count lunch. "You're taught that there's virtue In working hard," he
    NYT  -  1,233 words
  • Article, Illustration
    Blood runs thick in Cambodia
    945 4  -  By BRIAN EADS BANGKOK: Last month we learned that the Cambodian Communist Party was alive, kicking and running the mysterious land named Democratic Kampuchea. Like so many other features of the Khmer Rouge revolution, the Angka Loeu (organisation on high) had been a mask of
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      158 4 c-'-i n t T r i, V*»« V- t&ts*y. •>' Vi3® -r>-. £vv f* jS^MA S '■>*<* f&J' X>-' 'fi'j J\ > i Kenneth L\ V v I, v'm&site. j. Kenneth L°, the well-known CMntN cookery writer. introduces the rtidw to the techniques of Chineoe cooking, and gives an InalgM
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  • OVERSEAS
    • Article
      Lock icon Joint float may need realignment
      584 5 Reuter FRANKFURT, Sun. Senior Frankfurt foreign exchange dealers said the record trade-weighted strength of the mark realised this month, If maintained, will probably necessitate changes In the European Joint float before the year-end. The mark's further appreciation since the Aug 28 Snake realignment by pulling
      Reuter  -  584 words
    • Article
      Women executives battle the old boy network
      428 5 WASHINGTON, Sun. The old boy network of locker-room buddies and ivy league acquaintances has long been a source of frustration for women of the business world. But at the Federal Trade Commission it was the women's turn to discuss a way round ItMore
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    • Article
      Daily aircraft movements
      602 5 ARRIVALS Service Local Operator N umber Time From CPA CX003 0145 HKG SAS SK097 0750 CPH/KHI/BKK MAS MH682 0810 KCH OIA GA980 1030 HLP CPA CX710 1035 HLP THAI TG423 1035 BKK SIA SQ209 1045 HLP GIA GA944 1055 PKU GIA GA908 1100 MES PAL PR501 1115
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  • Article
    Lock icon LTV, Lykes reveal tentative terms
    412 5 NYT NEW YORK, Sun. LTV Corporation and Lykes Corporation, both financially troubled companies, have disclosed tentative merger plans. If consummated, the venture would bring together the United States' seventhlargest and eight-largest steel companies the Jones and Laughlln Steel Corporation and the Youngstown Sheet and Tube
    NYT  -  412 words
  • Article
    Cities Services expects better results
    162 5 TULSA, Sun Cities Service Co said It expects Its performance to Improve In the fourth quarter, producing earnings In both the quarter and the year that "will approximate" 1976 results. The company attributed lower earnings In the third quarter this vear mostly to "substantial downturns"
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  • Article
    PSC may lose millions
    99 5 MANILA, Sun. The Philippine Sinter Corp (PSC) may lose 26 million pesos this year following a slump in demand for steel In Japan. PSC president Motol Sakaki said in an interview. He told the Bulletin Today newspaper PSC's total sintered Iron ore output was contracted for
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  • Article
    Lock icon Company law changes will be minor
    96 5 Reuter LONDON, Sun. Changes In company law to be Introduced In the current session of Parliament will be minor and not Include widely anticipated regulations on insider trading and duties of company directors, government sources said. The agenda for. the current session, announced last
    Reuter  -  96 words
  • Article
    Permission granted
    36 5 TAIPEH, Sun. The Chinese Petroleum Corp of Taiwan has been given permission by the Executive Yuan to raise a USS2O million seven-year loan from the Chase Manhattan Bank NA, the Central News Agency reported.
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  • Article
    Lock icon TNT sells 3m shares
    92 5 Reuter SYDNEY, Sun. Thomas Nationwide Transport (TNT) is placing with Institutional and other Investors three million of Its 16.64 million Ansett Transport Industries shares for A 54.05 million or $1.35 a share, TNT managing director Sir Peter Abeles said. Ansett's total' Issued capital is A 571.13
    Reuter  -  92 words
  • Article
    Lock icon Approval of Michelin project hinges on talks
    203 5 Reuter RIO DE JANEIRO, Sun. A spokesman for Brazil's Industrial Development Council (CDI) said a decision Is expected this month on a Michelln project to set up a bus and truck steel-belted radial tyre factory. Industry and Trade Minister Angelm Calmon de Sa
    Reuter  -  203 words
  • Article
    Forecast of lower earnings
    163 5 WHITE PLAINS. New Jersey, Sun General Foods Corp. said because of uncertainty brought on by the world coffee situation, Its earnings for the current year ending April 1, 1978 may be lower. On sales of $1.19 billion, the company earned $28.4 million or 57 cents a
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  • Article
    Mark bond
    34 5 DUESSELDORF, Sun. The Danish export financing institute, Dansk Eksport Flnancler-ungsfond, Is raising a 75 million mark bond, probably at six per cent for five years, lead manager Westdeutsche Landesbank Olrozentrale said. r
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  • Article
    Lock icon Mitsubishi looks for 10pc sales rise this time
    233 5 Reuter TOKYO, Sun. Mitsubishi Heavy Industries expects a 10 per cent rfce in sales In the current year ending March 31, 1978 to 1.35 trillion yen from 1.22 trillion yen in 1976/77. Mitsubishi said it was unable to predict the size of
    Reuter  -  233 words
  • Article
    Lock icon UK delays decision on Hitachi plant
    106 5 Reuter NEWCASTLE-ON -TYNE, Sun. The UK government has delayed Its decision on Hitachi Company's plan to produce television sets here. Industry Minister of State, Alan Williams, said. Mr. Williams told reporters during a visit here the government has given Hitachi more time for discussions
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  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      182 5 There are now 173,709 households on our circulation list m Straits Times latest circulation now stands at 173. 709 -an amazing increase of 16.000 copies over 12 months The Straits Times latest circulation now stands at 173,709 copies per issue. That's an increase of nearly 10.000 copies over the circulation
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Tokyo
      484 7 TOKYO: Share prices closed higher on Saturday as interest revived In shares with anticipated good earning prospects, dealers said. The Dow Jones average rose 10.41 to close at 5.030.51 with volume 100 million shares. The New Index closed at 375.91, up 1.18. Electric powers continued to rise, with Investors
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    • Article
      Paris
      398 7 PARIS: The market was narrowly mixed last Friday, though operators were concerned about the weakness of the franc and the 1/8 per centage point cut tn call money, dealers said. Foods were firmer following Prime Minister Raymond Barre's announcement last Thursday of measures to check food price Inflation. Mr.
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    • Article
      Toronto
      310 7 TORONTO: Share prices closed sharply higher In active trading last Friday. The composite Index was up more than six points and advances outpaced declines 261 to 149. Golds rose nearly 28 points In response to climbing bullion prices and the oils and gas Index posted Its biggest ever single
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    • Article
      Jo'burg
      367 7 JOHANNESBURG: Gold shares generally were a fraction easier In dull trade last Friday, dealers said. Financial minings moved lower in line with producers. De Beers was down to 496 cents (497) after 500, unaffected by Central Selling Organisation's diamond price Increase, dealers said. Coppers were up to five cents
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    • Article
      Amsterdam
      243 7 AMSTERDAM: The market firmed In quiet trading last Friday. dealers said. Dutch Internationals rose with the exception of Akzo which fell 0.20 guilders. Hal and Ommeren fell In transports while Gistrocades. IHC and Deli eased among trading and Industrial stocks. NOV 04 Fte Ahold 99 50 1.5 Akio 25
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    • Article
      Milan
      133 7 MILAN: Stocks were lower In very quiet dealings last Friday, market sources said. Delay in Senate approval of a BUI on dividend tax reform was a factor depressing market sentiment. Bonds held fairly steady. NOV M Lire Anlc 188 •3 Assoc Oen ***** -490 Bastogl 522 -7 Centrale 4250
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      Frankfurt
      273 7 FRANKFURT: The market closed the week mixed after position squaring, profittaking and diminishing foreign buying interest pared early gains, dealers said last Friday. Utilities were also weaker but Demag gained 4.50 marks In mixed engineering and secondary chemicals firmed. Public authority bonds traded quietly between gains of up to
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    • Article
      Brussels
      141 7 BRUSSELS: Most Belgian shares closed higher last Friday ahead of the weekend in routine trading, dealers said In foreign stocks German, UK and Dutch were unchanged, Canadian mixed and US and French rose, Gold mines were higher, Petrofina and Its Canadian subsidiary also rose, but US Petrofina fell. NOV
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      Zurich
      279 7 ZURICH: The market last Friday was marginally higher on selective demand aided by a slight recovery of the dollar and better growth prospects for the Swiss economy this year. The Credit Suisse Index rose one point to close at 230.0. Banks Improved slightly apart from actively firmer Volksbaad and
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    • Article
      New York
      960 7 NEW YORK: The stock market last Friday closed out the week with a solid advance In active trading, as Investors found some bargains In recentlybattered glamour and blue chips Issues. Market analysts, terming the upswing a technical rally, said there weren't any major buying programmes except for special
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      Indices
      62 7 FINANCIAL TIMES INDUSTRIALS Friday 478.2 Thursday 479.8 Week Ago 509.3 DOW JONES AVERAGE INDUSTRIALS Friday 809.94 Thursday 802.87 Week Ago 822.68 LONDON DOLLAR PREMIUM Friday 98* to 98% Thursday 101 to 101 Vi H.K. HANG SENG Friday 434.80 Thursday 436.84 Week Ago 415.51 SYDNEY INDUSTRIALS Friday 386.11 Thursday 386.32
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      CHICAGO BOARD OPTIONS
      1411 7 On Nov 4 TRADING on the Chicago Board Options Exchange came to 91,388 contracts last Friday, compared with 83,824 contracts on Thursday. OPTION JAN APL JLY STOCK Alcoa 40 3 1/2 4 3/4 5 1/4 42 Alcoa 45 1 1 7/8 2 3/4 42 Alcoa SO UNTRD
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    • Article
      Lock icon NYSE stocks and bonds in late rally
      366 7 NYT THE stock and bond markets In the New York Stock Exchange Joined in a brisk rally late last week as fears dlmished that the Federal Reserve had begun tightening Interest rates another notch In Its effort to curtail growth in the United
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    • Article
      Lock icon Prices still on the downslide
      302 7 AFP TOKYO stock prices last week slackened further to finish the holidayshortened week lower for the fifth straight week with investors depressed by uncertainty over the money market. Analysts said the yen's steep surge, which hit a new post-war high of 245.20 yen against the
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    • Article
      Lock icon TransAmerica is optimistic
      185 7 Reuter SAN FRANCISCO, Sun. TransAmerlca Corp said It expects a strong fourth quarter this year and a continued high level of earnings for the foreseeable future. The company made the prediction In a statement accompanying the announcement of Its ninemonth results which it said were a record.
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      Lock icon Warner -Lambert
      124 7 Reuter Morris Plains (New Jersey), Sun. Warner-Lambert Co chairman fc. Buke Olblln reaffirmed that he expects the firm's 1977 earnings to be about U552.35 a share, or possibly better. The $2.35 a share would represent a 17 per cent gain over 1976. Warner-Lambert said all major domestic and-
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  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      526 7 BUSINESS TIMES Airline Directory Aeroflot Soviet Airlines 110-112 Shaw Centre, Orchard Road, Singapore 9 (Tel: 377.111) Air Ceylon 302-B, 3rd Floor, Marina House Shenton Way, Singapore (1) (Tel: ******8) Air Franca Ground. Floor, ICB Building, Shenton Way Singapore 1 (Tel: *****11) Air India 16th Floor, UIC Building, Shenton Way, Singapore
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  • COMMODITY REPORTS AND PRICES
    • Article
      FOREIGN RUBBER MARTS
      243 8 LONDON, Sun. Terminal rubber finished a very quiet session 0.35 pence per kilo higher to 0.20 pence tower on Friday. The official tone was slightly easier. Activity remained slow in the afternoon with volume swelled by a 50 lot self trade in the April/ June position. Some
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      Straits tin
      173 8 THE Straits tin price in Penang on Saturday fell $15 to close at $1,865 on an official offering up 3 tonnes to 178 tonnes. In LONDON on Friday, tin closed showing losses of £50 for Cash and £32 for Three Months Standard while high grade fell by £15
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      Produce exchange
      287 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICI'L YESTERDAY. Coconut Oil: Bulk $80 sellers. ol<> drum $85 sellers, new drum $90 sellers Copra: Mixed (loose) UK/Cont. $52 S buvers Pepper Muntok ASTA white f o b. 100% NLW $427 1 2 sellers. Sarawak white f o b.
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      Palm oil
      64 8 C.I.F.N. European ports prices quoted In London on Friday In US dollars per ton. Friday Previous Malaysia b% f fa bulk Dec unq unq Sumatra 5S f fa Oct unq unq No* unch 450 sir December 427 pd 440 sir January 427.50 pd 435 sir Feb 422.50 pd
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      Copper
      350 8 LONDON, Sun. Copper wlrebars on the day showed gains of £2 for Cash and £1.50 for Three Months on Friday. The market steadied during the afternoon on pre-weekend covering encouraged by the trend In US futures and the continued strength In gold. Three Months traded up to £663 in
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      Coffee
      288 8 LONDON, Sun. Terminal coffee closed the morning on a steady tone on Friday with prices at £18 lower to £3 higher. Volume totalled 944 lots including 16 options. In NEW YORK on Friday, coffee prices burst higher on a rash of short-covering to close locked up the six cent
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      Cocoa
      155 8 LONDON, Sun. Renewed liquidation of near Dec sent terminal cocoa into an extended decline on Friday afternoon, but Jobber shortcovering provided a late rally, reducing losses from Thursday to £48 to £10 per tonne. Turnover totalled 3631 lots Including two further options and 1616 lots selftraded. Dealers attributed the
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      Gold
      592 8 THE kllobar opened <134.00 higher at $12,939 on Saturday morning and closed at $12,989. In the London market the metal opened at U*****.50/80 and closed at a high of U*****.20/45. Source: Singnuu Retail prices per tael quoted by the Singapore Chinese Oold and Silver Merchants Association are $500 for
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      Silver
      146 8 LONDON. Sun. Silver on the day rose by 1.8 pence per troy ounce all round on Friday. Values worked higher during the afternoon In sympathy with US futures and the continued advance In gold. Three Months traded up to 275.4 pence In the ring and to 276.0 pence on
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      Lead
      84 8 LONDON. Sun. Lead closed CI per tonne higher on Friday. Prices held steady during the afternoon aided by the tone of copper and Three Months finished the kerb at C 357.50 per tonne. In the morning prices had moved irregularly on currency considerations which tended to discourage fresh Interest
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      Zinc
      85 8 LONDON, Sun. Zinc finished the day £2.25 per tonne higher all round on Friday. Dealers said this market displayed a fully steady trend throughout the day although currency uncertainties kept fresh interest at a minimum. Prospects of a further decline in warehouse stocks with another 1,200 tonne drop forecast
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      Rice
      337 8 BANGKOK, Sun. Indonesia Is Interested In an additional purchase of 150,000 tonnes of rice from Thailand for delivery next (rear, a trade source said ast week. About two weeks ago, Indonesia signed an agreement to buy 270,000 tonnes of Thai rice, of which 70,000 tonnes would be delivered during
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    • Article
      Another week of dull trading
      748 8 IT was lack-lustre trading most of the time at the Singapore produce exchange last week, reflecting the very cautious attitude of local dealers who were generally pricing themselves out of the international market. In the circumstances, trading volume was necessarily low and restricted to local
      748 words
    • Article
      Sugar
      187 8 LONDON, Sun. The apparent buildup of surplus sugars for disposal by some major producers before the end of the year kept terminal sugar generally depressed in basically thin afternoon dealings on Friday. Prices closed near tbe day's lows at £0.55 per tonne down from Thursday to £0.65 higher. Turnover
      187 words
    • Article
      Wheat
      133 8 CHICAGO, Sun. Wheat futures closed 2V« to four cents a bushel higher on Friday. Overnight export market activity prompted speculative buying which firmed prices in early trading and the advance was extended on commission house stoploss buying. However, fair to outstanding amounts of exporter selling helped take prices from
      133 words
    • Article
      Soybeans
      175 8 CHICAGO, Sun. Soybean futures recovered from early losses of several cents to close near the day's highs with gains of 10Vi to 3% cents a bushel on Friday. Lower meal prices overseas and weakness in meal futures, plus professional selling brought lower prices In the early dealings. But speculative
      175 words
  • MONEY AND EXCHANGES
    • Article
      Singapore market
      262 8 STERLING reacted sharply upwards at the opening last week. moving from U551.7770 to as high as $1.8600 following a news report in the Observer newspape. in London that sterling would be revalued by about 5 per cent. Trading was hectic and nervous when some operators believed that the
      262 words
    • Article
      Minimum lending rates
      27 8 acbc 6 7 HSBC 7 Bank of China 7 Malayan Banking Bank Negara <>CBC OUB t'CB Chaw Manhattan DBS 7 7 I'MBC 1 OB
      27 words
    • Article
      Asian $ rates
      283 8 Asian rates UNCERTAINTY prevailed during the last week over the course rates would take after a sudden rise on Monday when the Federal Reserve entered In market pushing rates up. Rates slightly easier towards Friday despite an increase in money supply, Ml up $1.6 billion and M 2 $2.1 billion.
      283 words
    • Article
      Discount market
      243 8 THE last week saw extremely easy money conditions with interbank overnight rates hitting a low of Vt per cent on most days. The discount market was similarly flushed with funds and rates for overnight funds generally closed at K per cent. Term rates remained rather steady throughout the
      243 words
    • Article
      Zurich
      615 8 ZURICH, Sun. Asa result of the free float policy adopted by the Bank of England, the pound Jumped up sharply earlier In the week to a high of U551.8630 against the dollar. Since then however, it has weakened and is now at $1.8085. The dollar was under further heavy
      615 words
    • Article
      London
      221 8 LONDON, Sun. The market closed quiet on Friday with currencies frequently quoted in wide spreads after lacklustre trading which saw the dollar generally higher on balance compared with Thursday dealers said. Sterling fleetlngly dipped down to $1.7975/90 In early trading from $1.8070/80 overnight but regained some of the lost
      221 words
    • Article
      New York
      109 8 NEW YORK, Sun. The dollar closed little changed on the day In quiet trading after slipping marginally in afternoon business from firmer mid-day levels, dealers said on Friday. The mark closed at 44.31/33 cents compared with the opening 44.28/30 cents. West Oerman output fell one per cent in
      109 words
    • Article
      Euro $ rates
      138 8 Euro rates LONDON, Sun. Eurodollar deposit rates eased against openings on lack of interest on Friday, dealers said. The Federal Reserve Board action cutting the reserve requirement for dollar deposits from four to one per cent effective Dec 1, has had no immediate Impact while the latest U8 money supply
      138 words
    • Article
      Short term money
      39 8 FOR the week ended Friday Nov 5 the range of call ratesrecelved from Short Deposits (M) Berhad was as follows: BANK FUND 2*% to 4%. GENERAL FUNDS 2ViH to 4%. Movements of funds totalled $633 million
      39 words
    • Article
      Frankfurt
      43 8 FRANKFURT exchanges closing quotes on Nov 4. US 2.2565/ 75 Can 2.0335/ 0355 UK 4.075/ 085 Neth 92.90/ 93.00 Swltz 101.67/ 77 Italy 2.567/ 574 France 46.51/ 61 Japan 0.*****/ 85 Belg Com 6.393/ 403 Belg Fin 6.38/ 39 Norw 41.08/ 18
      43 words
    • Article
      Money market
      60 8 A FLUBH overnight market was experienced last week with the bulk of the day-to-day funds being transacted at around the I<4 per cent level. Terms rates were fairly steady except for the one month in which the rates eased from 4% 4* per cent to 4* per cent
      60 words
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      Page 8 Advertisements Column 1
      173 8 ®r y Don't let the language barrier stop you from wider contacts <(:) m v*r^ i I t* eU> Y \e> \N \e& S \V* e .•1" o° Of* 0 \0 \N ft c* vN 6^ V 3° d V 3» 3^ O- o p \e 3 j YOU SIMPLY
      173 words
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  • MONDAY SPORTS
    • Article, Illustration
      The man from Renmark is making his mark
      1472 9  -  By HUGH McILVANNEY THE traditional belief in the self-sufficiency of Americans continues to be undermined at an alarming rate. It was significant enough when they recruited a couple of Germans to teach them about rockets and diplomacy, but the recent infiltration of
      1,472 words
    • Article
      Lock icon When rallying and marriage just don't mix
      797 9 NYT NEW YORK, Sun. It has been said that husbands and wives who want to remain happily married to each other should not compete in road rallies as a team. "Husbandsand wives have to get along all the time," said John Buffum of
      NYT  -  797 words
    • Article, Illustration
      Scorching golf wins Peter the Straits Times cup
      592 9  -  By ERNEST FRIDA PETER Ho of Keppel Golf Club pulled off the golf coup of the year when he won the Straits Times Cup at Bukit Course yesterday. Peter, a handicap 12, shot a scorching six-over-par 74 to beat a field of
      592 words
    • Article
      Lock icon It's almost enough to make Jimmy Young blink
      928 9 NYT LAS VEGAS, Sun. Even now his name is murmured in a whisper, or punctuated with a raised eyebrow. Actually his nickname is enough. Blinky. In boxing there is one Blinky Francis (Blinky) Palermo, now 69 years old, once the numbers racketeer
      NYT  -  928 words
    • Article
      Fine run at Laurel by Johnny D.
      283 9 MARYLAND. Sun. Johnny D. ridden by sensational 17-year-old jockey Steve Cauthen, unleashed a burst of speed leaving the' backstretch and coasted to victory yesterday in the $200,000 Washington D.C. International at Laurel Race Course. The 3-year-old gelded son of Stage Door Johnny, owned
      283 words
    • Article
      When work and play go hand-in-hand
      469 9 UNLIKE most other games, golf and business do mix. This Is very much the case In Singapore where those who know their business very often talk business on the fairway. It explains why there are today so many businessmen who are willing to pay
      469 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      95 9 OCBC CENTRE your prestigious address with a panoramic view Prospect of "in house" business Private dining rooms available for top executives 27 fast computerised lifts Large airy Car Park for 654 cars no parking problem for visitors Cafeteria for executives and staff One floor of special conference and meeting rooms
      95 words
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  • Article
    Bosses fight shy of productivity drive
    1055 10  -  NTUC CHIEF ACCUSES By CHAN BONG SOO MANAGEMENTS in Singapore are indifferent to the need to raise productivity and have failed to respond to the current national productivity drive yet it is essential that management should lead the unions In this drive. The Deputy
    1,055 words
  • Article
    Lock icon Oil shipment to Laos
    354 10 Reuter VIENTIANE, Sun. Fresh shipments of petrol for landlocked Laos have crossed the Mekong River from Thailand in the past two days. Informed sources said the shipments were expected to relieve a severe fuel shortage which has hit Vientiane in recent weeks following the imposition of
    Reuter  -  354 words
  • Article
    Business directory will open up W.Asian market
    178 10 LOCAL businessmen still mystified by the West Asian market will find their "open sesame" when a Asian Business Directory becomes available next year. The business reference volume, to be published by Kotharl and Sons of Madras, India, is being sponsored by the Confederation
    178 words
  • Article
    Lock icon China to stamp out financial sabotage
    307 10 AFP HONGKONG, Sun. The People's Bank of China has proposed a series of cogent measures to tighten the control over the administration's financial resources throughout the country, Radio Peking said today. The financial dragnet has been designed to stamp out such malpractices in various
    AFP  -  307 words
  • Article
    West imports less
    278 10 WASHINGTON, Sun. Imports of Industrial countries fell to U5556.13 billion (*****.7 billion) in August from $56.88 billion in July, the IMF said. Its International Financial Statistics publication noted Japan's imports increased to $6.06 billion In August from $5.84 billion in July and US Imports rose to $13.51
    278 words
  • Article
    Lock icon Swiss traders keen on Asean
    146 10 Reuter KUALA LUMPUR, Sun. Swiss businessmen are increasingly interested in the Asean region because it has a high population level with diverse needs, Swiss ambassador to Malaysia Peter Erni said here today. Swiss business circles also felt that Asean had a developing economy and monetary
    Reuter  -  146 words
  • Article
    Ford leads UK car market
    142 10 LONDON, Sun. Ford Motor Co Ltd became the British car market leader in October with 32,127 sales, equal to 30.4 of the total market. The Society of Motor Manufacturers and Traders figures also show that Ford moved into first position on sales for the first
    142 words
  • Article
    Lock icon Solving the steel mess
    709 10 NYT BRUSSELS, Sun. A new international plan (or reforming and strengthening the world's troubled steel Industry, now passing through Its severest crisis In decades, will be proposed to the Carter administration next week by Europe's senior steel official. This plan Is the brainchild of the Viscount
    NYT  -  709 words
  • Article, Illustration
    THE BRITISH gold and foreign exchange reserves have soared by almost five limes since the start of the year. Yet strangely this does not seem to have affected the holdings of nlhw countries. Considering the Japanese are believed to have another US$6 billion (5514.4 billion) tucked away in "hidden" reserves, there is a huge volume of funds around the fores markets from other quarters. The hot money now resident in London certainly has not been drawn out of the other major reserve-holding countries.
    83 10 THE BRITISH gold and foreign exchange reserves have soared by almost five limes since the start of the year. Yet strangely this does not seem to have affected the holdings of nlhw countries. Considering the Japanese are believed to have another US$6 billion (5514.4 billion) tucked away in "hidden" reserves,
    83 words
  • Article
    Lack of interest in American FTZ
    325 10 SINGAPORE businessmen are unlikely to invest in the US$lOO million (***** million) International Business Park Free Trade Zone area at San Jose port, California, despite a oneman mission promoting one of the 23 FTZ's in Singapore at the end of last week. Mr. Paul
    325 words
  • Article
    Tie-up with Aussie firm
    227 10 CHAN HO Engineering, a local engineering firm, recently signed a technical collaboration and sales agreement with Nova Machinery of Australia to manufacture and market sheet metalworking machinery in Singapore for export to 27 countries. By bringing some of its manufacturing operations here, Nova has cut costs
    227 words
  • Article
    Asean's energy needs will pise
    223 10 A CALTEX Petroleum survey projects that between 1975-85, Asean's total energy requirements will increase by 112 per cent to 1.9 million barrels a day. Oil will Increase by 89 per cent to 1.5 million barrels a day. In 1975, oil represented 89 per cent of
    223 words
  • Article
    Lock icon EXIM LOAN TO RUSSIA
    165 10 Reuter TOKYO, Sun. The ExE art-Import Bank of Japan as agreed to Increase Its bank loan to the Soviet Union to US$23O or $250 million (***** or $600 million) from the original $100 million, Japanese steel Industry sources said. The bank declined to comment on the
    Reuter  -  165 words
  • Article
    Lock icon Tighter controls on finance houses
    294 10 Reuter HONGKONG, Sun. Proposals will shortly be put to Hongkong's executive council to introduce liquidity requirements for companies registered under the Deposit taking Companies Ordinance of 1976 seminar to those existing under the Banking Ordinance, Flnancial Secretary Philip Haddon-Cave said. The proposals, designed to protect
    Reuter  -  294 words
  • Article
    Lock icon Hongkong won't regulate forex
    169 10 Reuter HONGKONG, Sun. The Hongkong government does not Intend to regulate the local foreign exchange market as long as high standards are maintained. Financial Secretary Philip Haddoncave also noted that this is. an area where there has been some criticism for a lack of regulation. If
    Reuter  -  169 words
  • Article
    Rubber meet in India
    42 10 KUALA LUMPUR, Sun. The Association of Natural Rubber Producing Countries (ANRPC) will hold a meeting of natural rubber experts, smallholders and representatives of international organisations in Cochin southern India, from Nov 24 to 30, an ANRPC statement said.
    42 words
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