The Business Times, 28 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, NOVEMBEII 28, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Kuwait will attend
      67 1 Reuter KUWAIT, Sun. Kuwait will attend a meeting of major oil-producing countries next month, Finance Minister Abdel-Rahman Al-Atlql said in an Interview published today in the Kuwaiti daily Al-Watan. The minister denied reports that Kuwait would boycott the ministerial meeting of the Organisation of Petroleum Exporting Countries
      Reuter  -  67 words
    • Article
      Lock icon Sorry, no tuna
      79 1 UPI TOKYO, Sun. A shipment of 600,000 cases of canned tuna destined for the United States is being held by the Tokyo Canned Tuna Sales Corp., sole export distributor for the product, because of the recent sharp drop in the dollar's value. The company originally set an
      UPI  -  79 words
    • Article
      Lock icon ILO appeal
      78 1 UPI MANILA, Sun. An appeal has been sent to all member states of the International Labour Organisation (ILO) for voluntary contributions to help recover the 25 per cent loss in operating funds resulting from the withdrawal of the United States from .the organisation. Mr. Francis Blanchard director general
      UPI  -  78 words
    • Article
      Lock icon Investment in Sabah
      50 1 AFP KUALA LUMPUR, Sun. The Sabah government Is currently processing applications for investment in the state totalling US$3 billion (Ss7 billion). Chief Minister Datuk Harris Salleh said here today that a majority of these proposed investment in the agricultural and Industrial sectors were from International concerns. AFP
      AFP  -  50 words
    • Article
      Lock icon Production strategies
      64 1 AP BANGKOK, Sun. Industry ministers of more than 12 developing Asian nations will meet tomorrow to consider new strategies to boost Industrial production, a United Nations spokesman said today. The strategies include stronger links In developing countries between Industry and the rural sector, the relocation of industries to
      AP  -  64 words
    • Article
      Lock icon Plans a-food
      66 1 AFP MANILA, Sun. The World Food Council today said leading International financing Institutions were gearing themselves to provide funds for specific food plans to reduce hunger and malnutrition in Asia, Africa and Latin America. WFC president Arturo Tanco Jr. of the Philippines said he sensed this new trend
      AFP  -  66 words
    • Article
      Lock icon Rather taxing
      55 1 Reuter ROME, Sun. The Italian government has drawn up a programme of tax Increases and cuts In spending designed to bring the economy under the control. However, the measures have to be finalised first at government level and then In negotiations between the government and the six political
      Reuter  -  55 words
    • Article
      Lock icon Pilots strike
      44 1 Reuter. PARIS, Sun. All Air France planes except the Anglo-French Supersonic Concorde were grounded today by a 48-hour strike of pilots and technicians over a wage claim. Air France officials said only Incoming flights and some domestic routes were in service Reuter.
      Reuter.  -  44 words
    • Article
      Lock icon HK plastic exports
      57 1 Reuter. HONGKONG, Sun. Hongkong's plastic exports will rise by up to 33 per cent this year, making it the No. 1 growth industry here, according to the chairman of the Plastic Manufacturers Association, Mr. J.H. Leung. Hongkong's major plastic competitors are Taiwan and South Korea. Plastic exports
      Reuter.  -  57 words
  • Article
    TOP TEN STOCKS
    118 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 Price* Hi*h Low '000 Nov 25 1977
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  • LOCAL STOCK INDICES
    • Article
      SINGAPORE
      71 1 Nov 21 Nov 22 Nov 23 Nov 24 Nov 25 tt BT Index: closed 478.89 466.45 471.39 468.75 Industrials: closed 265.76 265.41 265.57 264.79 <s> Finance: closed 420.63 418.92 418.63 418.16 Hotels: closed 180.15 171.46 170.84 170.07 Properties: closed 169.05 168.82 168.82 167.92 t Tins: closed 143.85 144.11 144.50
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    • Article
      MALAYSIA
      84 1 Nov 21 Nov 22 Nov 23 Nov 24 Nov 25 tt BT Index: closed 571.15 587.75 580.48 578.21 Industrials: closed 290.19 291.08 291.94 291.28 Finance: closed 365.73 364.58 363.85 364.47 Hotels: closed 176.82 183.17 183.80 183.29 Properties: closed 158.04 155.73 155.51 155.26 t Tins: closed 148.03 146.71 146.87 147.01
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  • Article
    Singapore will coordinate loan
    845 1  -  INDONESIA BORROWS USSSOOM By SOH TIANG KENG SINGAPORE will play a key syndication role in a US$5OO million (551,400 million) Asian dollar loan to the Indonesian government the biggest foreign consortium loan to the country in recent years. Morgan Guaranty Trust, the lead manager, will use
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  • Article
    Bond section in SES handbook
    344 1 REFLECTING the growing number of bonds listed on the local market, the Stock Exchange of Singapore has included a section on this financial Instrument in its latest annual companies handbook. The section, which was absent from previous years' handbooks, also Includes loan stocks and notes.
    344 words
  • Article, Illustration
    Wearnes turns in a dazzling $28m profit
    668 1  -  By MANO SABNANI AS WIDELY anticipated, Weame Brothers has unveiled a sparkling set of figures for 1976/77 and is rewarding shareholders with a one-for-two scrip issue. Group pre-tax profit for the year ended Sept 30, 1977, amounted to a massive $28.2 million which
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  • Article
    Lock icon US signs hopeful
    437 1 Reuter WASHINGTON, Sun. The US economy Is showing what analysts call encouraging but somewhat Inconclusive signs as President Carter tackles some key policy decisions he must reach by January. The economic statistics for the three-month period which began In October will be Important In formulating nls final
    Reuter  -  437 words
  • Article
    Panel to study clearing system for Asian $ CDs
    339 1 Panel to study clearing system for Asian CDs .BANKS interested in participating in the planned market for fixed rate Asian dollar Certificate# of Deposit have set up a committee to study the feasibility of operating a clearing system. Banking sources said that a meeting on Saturday between the Monetary Authority
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  • Article
    Lock icon Fukuda plans 15-month budget to boost demand
    661 1 Reuter. AFP TOKYO, Sun. Japanese Prime Minister Takeo Fukuda said he is thinking of preparing the budget for fiscal 1978 beginning next April to cover 15 months so as to allocate some of the budget expenditure in January, February and March, the last
    Reuter.; AFP  -  661 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      47 1 Ricoh] for plain paper copyng *****33 fUI Wywy Private Limited ...a responsible company 39th Floor Hong Leong Building Singapore 1. inside; Leisure/TV Radio Leisure/Crosswords Pcttum International Co. New* Local Co. Newt pg P2 Overseas MarkeU P7 P3 Commodities pa P4 Sports po Local P5 Overseas News PlO
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    • Advertisement
      Page 1 Advertisements Column 2
      115 1 A The Autumn issue of tba ASEAN Bsilmm Quarterly includes a 5-page analysis of ASEAN'■ urea projects sad finds thane I* be leas tha a viable (13 tables) a 15-page analysis of the impending world energy crisis and the likely ecoaaak effects on ASEAN countries including m* patterns of ASEAN
      115 words
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      Page 1 Advertisements Column 3
      137 1 Cool healthy pollution-tree driving with AmAßuenu COOL /MASTER .CAR AIR CONDITIONER 1 chuwo «haw mcrrxma wwimi uwmo I 1 TEL *****2 STREET SINGAPORE 12 TEL 7M4MO SEE PAGE 2 10 NEW YORK VANCOUVER '*r l FRANCISCO Steles] (HONOLULU I SINGAPORE MEXICO CITY V Only on JAL can you non-stop to
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  • REVIEWS
    • Article
      Popular operas with a few surprises
      1398 2  -  By PETER G. DAVIS NEW YORK: One would think that the musical world had discovered, or rediscovered, Just about all there Is to know about the operas of Donizetti, Verdi and Puccini, three of the most popular composers in the standard repertory. To Judge
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    • Article
      YEN FOR CHANGE
      574 2 IT is now a matter of mere academic interest why the world's financial markets have again been thrown into chaos with everyone except a handful of central banks getting out of dollars and into yen. Some will say it Is the basic strength of the yen that
      574 words
    • Article, Illustration
      Lock icon The Mousetrap celebrates its silver jubilee
      1015 2  -  By R.W. APPLE JR NYT. LONDON: When It opened, Winston Churchill was Prime Minister, Dwight D. Eisenhower had Just been elected President for the first time and Stalin was in his final year in the Kremlin. Tea and butter were still rationed in Britain.
      NYT.  -  1,015 words
    • Article
      Lock icon Satirist who did not exclude himself
      1390 2  -  By HILTON KRAMER NYT Of NEW HAVEN, (Connec*e ticut): Hazlitt, in his lectures on the English comic r writers, distinguishes three in categories or degrees of the by laughable. The first and er most obvious cause of Is laughter, he writes, is to be
      NYT  -  1,390 words
    • Article, Illustration
      Lock icon Germans bring in artists from outside
      814 3 German cities are finding foreign artists a good investment. They invite them for a year as guests of the city, and the reward is stimulation for their own artists and art-lovers as well as artistic work centred on the city itself. Darrell Delamaide reports
      FT  -  814 words
    • Article
      Lock icon JOURNEY OF CONSCIENCE
      881 3  -  By JOHN LEONARD NYT The Vast Majority: A Journey to the world's poor. By Michael Harrington. 281 pages. Simon and Schuster. U559.95 MICHAEL Harrington tells his Journal (and us): "I am tired of my conscience. It is a wheedling, Jesuitical conscience, a sloppy, sentimental, pathetic conscience, it
      NYT  -  881 words
    • Article
      Lock icon CHAIR HOAX ROCKS MUSEUM WORLD
      1247 3  -  By RITA REIF NYT NEW YORK: Fakes have been news since the beginning of time. In art, in fact, the forged work especially when uncovered In a museum, setting Invariably upstages the hundreds, Indeed thousands, of legitimate objects surrounding It. That Is exactly what happened
      NYT  -  1,247 words
    • Article
      Lock icon History of animal ties
      718 3  -  By ANATOLE BROYARD NYT Animals and Men. By Kennetfl Clark. Illustrated. 240 pages. Morrow. U5519.95 THE story of man's ambivalent relation to animals Is. to a degree, a history of his struggle with the animal part of himself. Animals have been both the scapegoat of man's
      NYT  -  718 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      260 2 Let's Talk About Accounts Receivable Loan and Factoring We are pleased to announce that Heller, in adding more flexibility to its existing factoring service, is now providing also Accounts Receivable Financing. This means that there are now 2 ways Heller can increase the flow of cash into) your business through
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      247 2 SINGAPORE 5 3.00 P.M. Opening followed by Valar Pirai (Tamil repeat) 3.30 Diary of Events (Tamil) 3.35 Afternoon Matinee Isn't Life Wonderful (Part 1) starring: Cecil Parker, Donald Wolfit, Eileen Herlie 4.25 Intermission 6.00 Opening followed by Accent On Youth 77 (repeat) 6.30 News In Brief 6.35 Marine Boy 7.05
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      121 2 lEaasagEa WEATHER report for 24 hour* prior to 7.30 pm on Nov. 27 at Singapore airport. Maximum Temperature 30.1° C Associated Humidity 74 Minimum Temperature 23.5° C Associated Humidity 93 Hours of Sunshine .3 35 Rainfall in Millimetres 39.3 Total Rainfall for the Month 349.0 Total Rainy Days for the
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      148 3 'ERTH An investment in home and land in Western Australia can reward you with safe profits. Owning a Taylor Woodrow Home and Land in a prestigious Perth, Western Australia, beachside suburb, means you can profitably rent or lease your investment property while its resale value appreciates dramatically. Western Australia has
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    • Advertisement
      Page 3 Advertisements Column 2
      121 3 A NEW WAY TO REACH OVER £.000 SENIOR MANAGEMENI MALAYSIA, SINGAPORE, HONG KONG NOW FAR EASTERN ECONOMIC REVIEW INTRODUCES LOCAL ADVERTISING EDITIONS MARKET BY MARKET FOR HONG KONG, MALAYSIA, SINGAPORE STARTING JANUARY 1978 FEER SUBSCRIBERS Average Earnings U5530,400 p.a. Responsible For Purchase Of 18.3 Air Tickets and 58.1 Hotel Nights
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  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      475 3 TWO-IN-ONE CROSSWORD llfll M MMUMUM jjbj ammi illill IIJIIJJII MU JUU iilH a ammmmm .UHJiJ Jlillllll Jill MU i mill' CRYPTIC PUZZLE ACROSS I Rapid assimilation of fats (4) 4 They furnish stories about a blockhead! (6) 8 Catty fellow (3) 10 Do their monkey tricks get them into scrapes?
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  • Article, Illustration
    Lock icon Pitfalls of buying a 'condo' in US
    892 4  -  Singapore is now experimenting with condominiums, described as the housing ofthe future. In the US, where Americans have become familiar with this concept for some years now, it is not proving very popular. RICHARD PHALON of the New York Times reports on this
    NYT  -  892 words
  • Article
    Lock icon BRITONS ALL SET FOR LONG, LONG XMAS HOLS
    924 4  -  Whatever may be said about national productivity, pay rates, inflation or strikes one thing is certain; the British are going to have another record Christmas and New Year holiday. Because of the way the days fall this time, many workers will have
    FT  -  924 words
  • Article
    Lock icon Israelis shop first and ask the price later
    874 4  -  The Israelis are excited and baffled by the effects of floating the Israeli pound. Economist Milton Friedman predicts that the country will undergo an economic miracle like that of West Germany. Meanwhile, housewives are buying everything they can get their hands on
    FT.  -  874 words
  • Article, Illustration
    Lock icon REWARDING RESPITE FOR PORTUGUESE
    1019 4  -  THOUSANDS of Portuguese are having great fun helping to make a US$l2 million (5128.8 million) film. It brings in money, provides a welcome distraction from politics, high taxes and low pay and gives them a chance to stand close to Gregory Peck and James Mason. Diana
    FT  -  1,019 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      384 4 A Major New latent in Penguins PaulTheroux Paul Theroux, an American now living in London, has been acclaimed as one of today's major writers compared with Graham Greene and Joseph Conrad. The Great Railway Bazaar, his latest in Penguins is the true story of Theroux's railway odyssey from London to
      384 words
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  • Article
    Lock icon Caribbean Holidays plans Cuba tour
    129 5 AFP NEW YORK, Sun. Caribbean Holidays, one of the largest charter flight companies in the United States, began advertising on Saturday week-long visits to Cuba starting In midJanuary. Another charter company announced flights to Cuba from Miami last spring, but cancelled them In the wake
    AFP  -  129 words
  • Article
    Metal Box profit slightly up
    96 5 LONDON, Sun. Metal Box made a pre-tax profit of £25.23 million (23.79 million) In the half-year ended Sept 30. 1977. The company said It does not foresee an immediate Improvement In activities and full-year results are unlikely to match last year's £37.73 million pretax profit.
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  • Article
    EOE setup approved
    41 5 AMSTERDAM, Sun. Finance Minister Wlm Dulsenberg has granted formal approval for setting up of the European Options Exchange (EOE) here, a ministry spokesman said. Trading In options Is expected to start on April 4, an EOE spokesman said.
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  • Article
    U. Carbide sees good headway
    591 5 NEW YORK, Sun. Union Carbide, one of the leading US chemical companies, claims to have made a significant advance In the technology for producing one of the world's most widely used plastics, low density polyethylene. According to Mr. William Sneath, chairman of Union Carbide, the
    591 words
  • Article
    Carlsberg to spend a further £7m
    224 5 LONDON, Sun. Carlsberg, the subsidiary of United Breweries of Denmark, is to spend a further £7 million at Its UK brewery in Northampton. The company has Just finished the second phase of the brewery development, and Northampton so far represents an Investment of £27
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  • Article
    Lock icon Johnson takeover plan accepted
    102 5 Reuter. OTTAWA, Bun. The Federal Cabinet said It approved Foreign Investment Review Agency recommendation of a proposal by Johnson, Matthey and Co Ltd of London to acquire control of the precious metals division of Johnson, Matthey and Mallory Ltd of Toronto which refines and recycles precious
    Reuter.  -  102 words
  • Article
    Lock icon Matsushita new video system
    89 5 Reuter OSAKA, Sun. Matsushita Electric Industrial said It has developed a new video disc playing system which can reproduce sounds and colour Images from a recorded disc. The Japanese electric maker said the time to start to put It on sale Is not determined yet and
    Reuter  -  89 words
  • Article
    Lock icon Dip in profit of NYSE members
    244 5 Reuter. NEW YORK. SUN. The New York Stock Exchange said member firms' total net prom fell to US$3O.B million in the third quarter from 190.4 million in the same 1978 period. After-tax profits represented a 3.2 per cent annual return on the member firm's
    Reuter.  -  244 words
  • Article
    Chrysler to launch new cars
    111 5 PARIS, Sun. Chrysler France SA said It will launch the new "Horizon" range of cars on Jan 2. The car will be available In three versions the 1,118 cc "LS" with a top speed of 146 km/hour, the 1,118 cc "QL" with top speed 148
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  • Article
    Lock icon ENI unit to float US$75m
    117 5 BONDS AND LOANS Reuter PARIS, Sun. Hydrocarbons Bank plans a US$75 million five-year floating rate loan on the International capital market, lead manager Credit Lyonnals said. The loan, guaranteed by the bank's parent Ente Nazlonale Idrocarburl (ENI) of Italy, is expected to carry a point
    Reuter  -  117 words
  • Article
    Lock icon Syndication completed
    89 5 Reuter LONDON, Sun. Syndication among Euromarket banks of Denmark's US$2OO million seven-year loan Is now complete and signing of tke loan agreement Is scheduled for mid-December In Co pen- hagen, Euromarket bankers said here. Over half the total amount was sold outside the management group, which constituted exclusively
    Reuter  -  89 words
  • Article
    Lock icon Private placement
    42 5 Reuter FRANKFURT, Sun. The 30 million mark five-year Brlvate placement for übota Ltd will have a 5* per cent coupon, bond market sources said. The bond will come to the market next month. Lead manager IS Westdeutsche Landesbank Olrorentrale. Reuter
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  • Article
    Lock icon Eurobond pricing
    33 5 Reuter DUESSELDORF, Sun. The 200 million mark maximum 12-year 6 per cent Eurobond for Norges Komm una] bank was priced at 10#K per cent, lead manager Westdeutsche Landesbank Glrozentrale said. Reuter
    Reuter  -  33 words
  • Article
    Lock icon KDB
    29 5 Reuter FRANKFURT, Sun. The 100 million mark 7.25 per cent seven-year Eurobond for the Korea Development Bank was priced at par, lead manager Deutsche Bank AO said. Reuter.
    Reuter  -  29 words
  • Article
    DAILY AIRCRAFT MOVEMENTS
    601 5 ARRIVALS I Oparatar Numbar LM Ll Fran CPA CX003 0146 HKG SAS SK097 0750 CPH/KHI/BKK MAS MH882 0810 KCH OLA OA06O 1030 HLP CPA CX710 1035 HLP THAI T0423 1035 BKK 8IA 8Q209 1045 HLP OIA OA944 1065 PKU OLA OA908 1100 MES PAL PR501 1125 MNL
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  • Article
    Lock icon Oil storage order
    172 5 Reuter SEOUL, Sun. The government yesterday ordered South Korea's three oil refineries to double their storage capacities to 90 days by 1981 to ensure smooth supplies and secure emergency stocks. A commerce and Industry ministry spokesman said the refineries were also asked to help In the production
    Reuter  -  172 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      213 5 f»/VIV /AM W34TSP 'Every Sunday, Pan Am gets you to Hongkong and San Francisco fatter than any otheroMml I i Now Pan Am gets you to Hongkong and San Francisco ahead of all other airlines i Every Sunday, Pan Am leaves Singapore at way to Hongkong and San Francisco. 0820
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  • COMPANY NEWS
    • Article
      Yeo Hiap Seng to achieve record profit
      760 6 BUOYED BY the hefty earnings of its associate company in Malaysia, Yeo Hlap Seng is expected to achieve record profits for the year ended Sept 30, 1977. At the interim stage, the group had already posted a near 39 per cent rise in
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    • Article
      Fire destroys sawmill building
      67 6 GENERAL Lumber (Holdings) Ltd said a fire at its wholly owned subsidiary General Sawmills (M) Bhd destroyed the company's sawmill building, plant, machinery and timber stocks within the building. But it said the properties destroyed were all covered by insurance and the extent of damage was
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    • Article
      BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 4, 1971 – 100)
      149 6 BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 4, 1971 100) Week'* Action 1*77 Hi«h Low Industrial Group Nov 18 Nov 25 Point C'kin|< 217.63 145.90 Automotive 213.89 217.83 ♦3.74 496.57 343 24 Banks, Insurance. Finance and Trustee 347.40 343.24 -4 16 164.82 135 80 Chemicals. Rubber Products. Refining and
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    • Article
      DIVIDENDS ANNOUNCED
      293 6 Current payment Ex Date Date payable Total for the year Total for previous year Oriental Rothmana 6%I 20% Nov 8 Oct 14 Nov 30 Nov 30 6% 20% 15% 20% Mentakab Rubber Sime Darby Sime Darby 11%I 24% 5%h Nov 11 Oct 26 Oct 26 Nov 30 Dec
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    • COMPANY MEETINGS
    • Article
      Share Information for the week
      2566 6 Hid itn L»" r«—ny Laet 8ate Wwi +erGr*s k DHr Dhr Crr Qr*s Net YTi P/E We* Vel dW HH We* |k Lew 1 8ECTION ONE INDUSTRIALS 154 204 lie 244 88' 205 109 246 418 146 134 165 56 212 57* 156 152 182
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  • Page 6 Advertisements
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      175 6 Confront Singapore's decision makers in Business Tunes 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 who For only $3.50 per single column centimetre
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  • INTERNATIONAL STOCKS MARKETS
    • Article
      Tokyo
      506 7 TOKYO: Share prices closed sharply higher on Saturday on massive selective buying following Prime Minister Takeo Fukuda's announcement he will reshuffle his Cabinet, and adopt economy boosting measures, dealers said. The Dow Jones average registered this year's largest single-day rise of 122.47 to close at 4,770.25 with volume 110
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    • Article
      Paris
      347 7 PARIS: Shares eased In quiet pre-weekend trading on Friday due to the weakness of the French franc, bourse sources said Banks eased and foods were lower except for Per nod-Rica rd which gained 7.60 francs. Autos, engineerings, constructions, stores and electrlcals fell but steels and oils were barely maintained
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    • Article
      Toronto
      365 7 TORONTO: Share prices closed sharply higher In active trading on Friday. The composite Index, up nearly eight points, reached Its highest level since Sept 7. Financial services posted its largest gain In more than a year. Advances outpaced declines 273 to 147. Among the gainers. Thomson Industries rose three
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    • Article
      Jo'burg
      357 7 JOHANNESBURG: Gold shares drifted lower on Friday reflecting the weaker bullion price, dealers said. Losses ranged between three and 40 cents Financial minings were very quiet but lower where traded. De Beers lost three cents to 525 Metals were mostly lower while industrials were narrowly mixed. NOV 2S Rand
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    • Article
      Amsterdam
      327 7 AMSTERDAM: Share prices were weaker over a broad front on Friday mainly due to continued weakness of the dollar and possibly new developments concerning the formation of the Dutch Cabinet, dealers said. Philips and Unilever led declines among Dutch Internationals, while Hoogovens closed unchanged. In the rest of the
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    • Article
      Milan
      155 7 MILAN: The market closed lower on Friday over a broad front in moderate trading, dealers said. Genermle Immobiliare, however, gained sharply to close at 79 lire against 04.50 previously Fiat, Both Pirelli and Olivetti and Montediaon showed losses. Financials, banks and In- suranees also lost ground. Bonds met keen
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    • Article
      Frankfurt
      321 7 FRANKFURT: Share prices eased on Friday In quiet end-of-week trading with uncertainty on the foreign exchange market causing hesitancy among Investors. dealers said. Commertbaak gained 0.20 mark following publication of Its interim report but Bayervverein led other major banks up to five marks lower, Mercedes shed three marks in
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    • Article
      Brussels
      159 7 BRUSSELS: Most Belgian shares were lower In very quiet trading on Friday, bourse sources said. Soflna. Vieille Montagne and Hainaut-Sambre rose while Reserve, Hoboken, Cockerill, ACEC, Solvav, Tessenderloo, St Roch, Cometra, Finoutremer, Tabacofina and Arbed all fell. In foreign stocks Dutch and UK fell. Germans were mixed. US and
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    • Article
      Zurich
      293 7 ZURICH: The market closed generally steady In very quiet monthly settlement trading on Friday, dealers said. Swissair Bearer was easier. Leading banks, financlals and Insurances were little changed Ciba-Geify and Sandoi Tost ground on a report by the Chemical Industry Association announcing a third-quarter decline in chemical Industry production.
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    • Article
      New York
      936 7 NEW YORK: Stocks, higher at the opening but mixed most of the session on Friday, pulled slightly higher again across a broad front at the close In quiet "semi-holiday" trading. Many Investors stayed out of the market, celebrating a long Thanksgiving weekend, and banks were closed. Analysts said
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    • Article
      CHICAGO BOARD OPTIONS
      1402 7 On Nov 25 CHICAGO Board Options Exchange volume was 73,278 contracts on Friday, down sharply from 119,005 on Wednesday. OPTION JAN APL JLY STOCK Alcoa 40 4 5/8 5 1/2 6 44 Alcoa 45 1 9/16 2 1/2 3 44 Alcoa SO 5/16 7/» NOL 44 Alcoa
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    • Article
      Indices
      65 7 FINANCIAL TIMES INDUSTRIALS Friday 466 .0 Thursday 45®.7 Week Ago 480.5 DOW JONES AVERAGE INDUSTRIALS Friday 844 42 Thursday 843.30 Week Ago 835.76 LONDON DOLLAR PREMIUM Friday 97 to 97V4 Thursday 97* to 98 V4 H.K. HANG SENG Friday 420.54 Thursday 419.90 Week Ago 425 51 SYDNEY INDUSTRIALS Friday
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  • Article
    Lock icon Slowdown in inflation lifts NYSE
    628 7 NYT SIONS of a slowdown In the Inflation pace helped the New York stock market to forge ahead last week. Natural gas producers were among the market's stronger performers, reflecting prospects of higher natural gas prices In the energy legislation now making Its way through
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  • Article
    Lock icon Losses on TSE reduced by late buying
    334 7 AFP STOCK PRICES on the Tokyo stock market last week fell sharply for the second straight week under pressure of the yen's unabated appreciation but a dramatic weekend rebound more than halved the loss. The Dow-Jones average of 225 selected Issues on the
    AFP  -  334 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      450 7 For complete banking services, call: Bank Amarica Clifford CMKf 24 KiHln PWi IM/1M I(Mmm Bead tlMWin 1 (Tat 2224.222) lOTM CMMWCMII IMIMM S pwt If fkantaa Way >ln|W»n 1 (TJTJMI.333) Bankaw Twat Ga SO4/SO6 Oiwi Ihtppin! Canlia rßPKojrm Barclay* Ink hHnwXwwl Ltd 21* Rew, CkfHrl Cmtn rf2TT27J) I^'lTdM* C m
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  • COMMODITY REPORTS AND PRICES
    • Article
      FOREIGN RUBBER MARTS
      202 8 LONDON, Sun. Weekend shortcoverlng provided moDest support in rubber futures in the afternoon and -the market closed near the *day's highs with on balance gains of 0.70 pence to £70 pence per kilo. Turnover totalled 203 lots of 15 torlftes including three call options and one kerb,
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    • Article
      Straits tin
      181 8 THE Straits tin price In Penkng on Saturday was up $23 to $1,800 on an official offering down 11 tonnes to 213 tbnnes. J4 LONDON on Friday, tin «n the day rose by £115 fonsash and £80 for Three nfigfths standard while high gratfe gained £115 and £55
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    • Article
      Produce exchange
      278 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY Coconut Oil: Bulk SB3 sellers, old drum M 8 sellers, new drum $93 sellers. Copra: Mixed (loose) UK/Cont. $54 buyers. Pepper: Muntok ASTA white f.o.b. 100% NLW $455 sellers. Sarawak white fob 98% NLW »435 sellers, Sarawak
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    • Article
      Palm oil
      66 8 C.I.F.N. European porta prices quoted in London on Friday in U8 dollars per j-i" Friday Previous Malaysia 5H f fa bulk Jan 470 sir x 453 sir Sumatra 5S ffa No* unch 525 sir December 485 pd 482.50 sir January 470/477 V, pd 405 Sir Feb 457.50 pd
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    • Article
      Tin/rubber closing prices
      11 8 z> W-ii: mm it yx.-w.;iT H,* i m>'r
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    • Article
      Copper
      317 8 LONDON, Sun. Copper wlrebars on the day rose by £4.50 for cash and £5 for Thee months on Friday. Values were marked up after lunch on shortcovering prompted by the trend at New York. Three months finished the kerb trading at the d&y's high of £672.50. During the morning,
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    • Article
      Cocoa
      284 8 LONDON, Sun. Cocoa ended the day £36 lower to £11 higher. Volume totalled 5,756 lots. Self trades and switches swelled turnover, and accounted for 2,456 and 324 lots Respectively. Dealers noticed some arbitrage trading which consisted of selling May In London against purchases of New York May. Prices during
      284 words
    • Article
      Coffee
      250 8 LONDON, Sun. Coffe< es official 1 j slightly steadier but witt gains of £1 to £60 on Friday Volume totalled 3172 lot< which was boosted bv around 1,000 lots self-trades and 19 options. Sellers resistance was encountered around the day's lows in both Jan and Mch positions during the
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    • Article
      Gold
      461 8 RETAIL prices per tael quoted by the Singapore Chinese OOld and Silver Merchants Association are $500 for 90 per cent gold, $530 (or 22k gold and $500 for 24k gold. In LONDON on Friday, gold closed in the range of $158.00/ 158.50 an ounce down from Thursday's $159.00/ 159.50
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    • Article
      Silver
      135 8 LONDON, Sun. Silver on the LME gained 0.2 to 0.4 pence per troy ounce on Friday. During the afternoon, earlier losses were erased by shortcoverlng induced by the movement in US futures. Three months reached the day's high of 264.5 pence during early ring dealings before profittaking pared gains.
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    • Article
      Zinc
      68 8 LONDON, Sun. Zinc finished the day £4.50 per tonne down all round on Friday. Prices fell back during the morning pre-market with three months trading from £298 to £294 per tonne on dealers forecasts of a 3,225 tonne Increase in warehouse stocks this week. Traders said this unsettled the
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    • Article
      Lead
      60 8 LONDON, Sun. Lead lost £1 per tonne for cash and was £1.25 lower for three months on Friday. Dealers said the market eased during early morning dealings on forecasts of a 1,000 tonne Increase in warehouse stocks this week. But thereafter values held steady and rallied slightly in the
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    • Article
      Rice
      420 8 BANGKOK, Sun. Verj quiet conditions prevailed with no new business reported in the government or the private sector from Europe, Africa and the West Asia, but exporters were reluctant to commit themselves. Trade sources said this year's rice crop could be estimated with some degree of accuracy by the
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    • Article
      Minimal business in quiet trading
      660 8 AFTER a steady to firm opening, coffee prices came under some selling pressure In a generally quiet but steady Singapore produce market last week. Business transacted in most of the commodities was reported to be minimal. The heady trend in coffee beans was Jolted towards
      660 words
    • Article
      Sugar
      100 8 LONDON, Sun. Commission house, chart buying Dlus Jobber shortcoverlng supported terminal sugar in late trading on Friday, and values closed near the day's highs of £0.60 down to £0.35 higher. Turnover totalled 2305 lots Including 31 further options. The morning market was quiet but generally easier. Both the London
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    • Article
      Soybeans
      107 8 CHICAGO, Sun. Soybean futures ended strong with gains of 17 to cents a bushel at or a shade below the highs on Friday. Traders said the market broke through the resistance area around $6.09 to $6.11 a bushel, basis the January, which closed at $6.lift, ltt cent off the
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    • Article
      Wheat
      124 8 CHICAGO, Sun. Wheat futures closed at or near the highs on Friday with gains of 3* to five cents a bushel. Spillover support from the corn pit and soybean complex aided the recovery, brokers said. A lack of commercial hedging helped keep the downside pressure at a minimum. Some
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  • MONEY AND EXCHANGES
    • Article
      Singapore market
      201 8 THE US dollar weakened throughout last week in the Singapore forex market. It opened firm at the $2.3750/ 60 level following a rise in the money supply and continuing fears that Saudi Arabia may reassess taking Its oil revenues In dollars, but was soon brought down to the
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    • Article
      Minimum lending rates
      52 8 ACBC Algement Bank 7 Citibank 7 Bangkok Bank 7 HSBC 7 Bank of America 7 lndoauei t Bank of China 7 Bank of Tokyo 7 Malayan Banking Mitaui Bank 7 Bank Negara Indonesia 7 OCBC OUB •H Chartered Bank 7 UCB Chaae Manhattan 7 DBS 7 UMBC
      52 words
    • Article
      Asian $ rates
      207 8 Asian rates THE market was very quiet last week with the New York holiday on Thursday. A slight easing tendency was noted due to a lack ot taking Interest. ASIAN currency average deposits rates for the week ended Nov 25. ua»< Bid Prices) High Low 7 days 61/2 81/2 1mth
      207 words
    • Article
      Discount market
      379 8 LAST Monday overnight interbank was traded to a high of 6 per cent and subsequently eased considerably on Wednesday, the adjustment day for banks on their minimum cash balances with MAS. The easier condition was also partly caused by the swap facility provided by MAS to cushion the
      379 words
    • Article
      Zurich
      605 8 ZURICH, Sun. The foreign exchange market witnessed a further sharp decline of the dollar last week. The currency fell to new alltime lows against the Japanese yen (238.55/80), the D-Mark (2.2135/45) and the Swiss Franc (2.1640/50). Intervention by various central banks was not able to stop the downward movement.
      605 words
    • Article
      London
      301 8 LONDON, Sun. The dollar closed very weak against most currencies as the prospect of a further trade deficit for the US in October In figures due Monday dampened dollar buying Interest, dealers said on Friday. Sterling, meanwhile, closed firmer on Thursday's finish with forwards moving to a small premium
      301 words
    • Article
      Short term money
      49 8 FOR the week ended Friday Nov 25 the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND 3 1 per cent to 4% per cent GENERAL FUNDS 3'* per cent to 4K per cent. Movements of funds totalled $419 million.
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    • Article
      New York
      241 8 s NEW YORK, Sun. The ss dollar finished weaker j- against most major currener cles, although closing s, quotes were up somewhat •a from the lows posted in eary. ly trading on Friday, it Dealers said the market (j was very quiet throughout c the day, following Triurse
      241 words
    • Article
      Euro $ rates
      118 8 Euro rates LONDON, Bun. Eurodollar deposit rates closed mostly unchanged from steady openings after quiet pre-weekend trading but dealers reported patchy business during the afternoon on Friday. Rollover requirements were light and fixed dated remained steady with few rate movements noted, despite some business. Snortdates held steady in light routine
      118 words
    • Article
      Lock icon Money market
      61 8 Source: Astley and Pearce THE overnight market was seen on an easing tone towards the weekend to close at 3% 3 per cent. This was in due effect of the swap facilities introduced by MAS. The terms in turn eased by about per cent to close 5 4%,
      Source: Astley and Pearce  -  61 words
    • Article
      Frankfurt
      40 8 FRANKFURT exchanges closing quotes on Nov. 25 U8 2.2180/70 Can 1.9980/ 2.0000 UK 4.022/ 028 Neth 92 45/ 55 Swltz 102.50/ 80 Italy 2.527/ 534 France 45.71/ 81 Japan 0.9238/ 48 Belg com 8.338/ 348 Belg Fin 40.98/ 41.07
      40 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      380 8 from 1976 Nobel Prizewinner 3 IN PENGUIN Nobel Prize Winner is at his best again in his latest book TO Jerusalem and Back'. As with his recent best-seller 'Humboldt Gift', Bellow's brilliant images emerge at frequent intervals like sunshine through fog, witty, clever, radiantly imaginative and without doubt, Bellow has
      380 words
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  • MONDAY SPORTS
    • Article, Illustration
      Lock icon Land of the Boston Tea Party is all steamed up
      1029 9 NYT BOSTON, Sun. From harvard Yard to Bunker Hill, citizens are taking up arms these cool autumn days as the decision nears on the latest issue to enflame Boston town: The selling of the Red Sox and the sacking of
      NYT  -  1,029 words
    • Article
      Lock icon Where once a peacock strutted now walks a mortal
      885 9 NYT NEW YORK, Sun. He used to be a peacock. A $250,000 a-year Jockey swaggering through life with a wardrobe of $1,000 velvet suits and a steady hand that could pick up a $500 restaurant tab without flinching. He drove fancy
      NYT  -  885 words
    • Article, Illustration
      Lock icon Organisation is the name of the game
      1057 9 NYT. DALLAS, Sun. The 1.500 black books line a complete wall and part of a basement In the Dallas Cowboys offices off the North Central expressway. They can tell you the size, speed, strength and character of every pro football prospect for the
      NYT.  -  1,057 words
    • Article
      Lock icon Leading US sports shop to close its doors
      855 9 NYT. NEW YORK. Sun. Only a few steps from the blue leather book, shoppers were inspecting sleeping bags and trying on ski Jackets, then hurrying over to the cashiers line. On the eighth-floor at Abercrombie and Fitch, nobody appeared Interested in the
      NYT.  -  855 words
    • Article
      Lock icon ATP moves to curb tennis pay-offs
      427 9 NYT. DALLAS. Sun. The first serious attempt to curb financial guarantees and tinder-the-table pay-offs to professional tennis players will be initiated on the Men's Grand Prix circuit next year. The Association of Tennis Professionals, which represents more than 200 male pros, has requested its
      NYT.  -  427 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      164 9 GAMBLERS HANDBOOK 0* p\ 1 Hors^ ft 5 c W sin* Ca 4 7 s ifl tfl u 16A by E. Lenox Figgis F.C.A. A practical handbook axplain-* ing how batting takes place on the world's most popular bat- v ting pattimas, including-' horses, dogs, football pools, >A< sporting events,
      164 words
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  • Article, Illustration
    Limited high-paying jobs in future
    872 10 THIRD CONVENTION OF THE SPC WITH economic growth expected to slow down, professionals may find It difficult to secure good high-paying Jobs In the next decade. Speaking at the two-day third convention of the Singapore Professional Centre at the Shangri-La Hotel which ended yesterday, Dr.
    872 words
  • Article
    Expectations that are out of tune with the times
    429 10 PROFESSIONALS in Singapore face a great challenge in the coming years as the industrial structure here changes Sum over-dependence on under entrepreneurs and technocrats to reliance on professional managers. This is the result of Singapore taking on an increasing industrial role
    429 words
  • Article
    PLANT TOURS IN EXPOSITION PROGRAMME
    134 10 A PROGRAMME Of tours to Joint-venture plants in Singapore will be included in the arrangements for the Japan Industrial Exposition Singapore '77 to be held next month. Mr. Akio Suzuki, general manager of the Japan Trade Centre Singapore (Jetro), said a total of 12 plant
    134 words
  • Article
    Chance to meet service needs of region
    595 10 PROFESSIONAL practices within each Asean country wlli now have to look towards the regional market. This is a logical development of the concept of Asean which was set up with strong economic cooperation as the guiding principle. "This being the case," said Mr.
    595 words
  • Article
    Lock icon Copper to be monitored
    208 10 Reuter GENEVA, Sun. Government experts from leading copper producing and consuming countries agreed in principle at talks here to set up a Joint producerconsumer consultative body to monitor market and industry developments. But they are yet to agree on the form and scope of the proposed
    Reuter  -  208 words
  • Article
    Lock icon Rail strike called off
    65 10 Reuter TOKYO, Sun. Workers of Japan's major private railway companies today called off a scheduled half-day strike after reaching a compromise agreement with the management on better labour contracts. The 210,000-strong General Federation of Private Railways Workers Union (Shltetsu Soren) said, however, workers of 88 small
    Reuter  -  65 words
  • Article
    Lock icon Lending pace quickens
    554 10 Reuter. WASHINGTON, Sun. International bank lending as measured by domestic and currency claims on non-banks accelerated in the second quarter to US$35O billion (SSB4O billion), the International Monetary Fund said. The IMF said in its survey this was 21 per cent above the $289 billion level reached
    Reuter.  -  554 words
  • Article
    Taking the lead to form ah Asean federation
    281 10 THE Singapore Professional Centre it to take step* to form a regional or Asean federation of profeaaional organisations to promote cloaer communication and cooperation among professionals in the region. This was perhaps the most significant of the recommendations which resulted from various
    281 words
  • Article
    Lock icon Hectic buying support by central banks
    543 10 Reuter LONDON, Sun. Currency strains produced by the dollar's protracted fall on international markets and the difficulty of several European currencies in matching the strong upthrust of the yen, mark and Swiss franc resulted in heavy central bank intervention last week. In Tokyo, where
    Reuter  -  543 words
  • Article
    Lock icon Funada may be vice PM in Cabinet reshuffle
    400 10 UPI TOKYO, Sun. Japanese Prime Minister Takeo Fukuda today invited his top aide to his home to discuss mending the rifts within his faction-ridden Liberal Democratic Party before reshaping his 11-month-old Cabinet. The roster of his new Cabinet will b£ announced tomorrow
    UPI  -  400 words
  • Article
    Lock icon Japanese yards to operate at 70pc of peak capacity
    343 10 AFP TOKYO, Sun. Japan's 45 shipbuilders will limit their j operations next year to an t average of 70 per cent of their peak output to cope with the deepening shlpj building recession. The planned cutback was r recommended yesterday by
    AFP  -  343 words
  • Page 10 Advertisements
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      40 10 <*M L/ SINGAPORE OK OH Japanese Restaurant 4tti Fir. Supreme House. Penang Road. Tel *****1 £a OK OH OF GINZA k Japanese Restaurant Basement. Hong Leong Blag., Rattles Quay. Tel *****81 KATSURA Japanese Steak House Orchid Inn. Duneern Rd Savi""""
      40 words
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      Page 10 Advertisements Column 2
      93 10 HIGHLIGHTS OF OUR NOVEMBER ISSUE PROPERTY I he condominiums Hill be ready soon and the winner is the developer who offers the best package. LIFE AT THE TOP Personality profile of British Airways- l)a>id I.o«e: Watching the birds go bv. TRENDS What is influencing metal prices? offee: Bluff and counter-bluff;
      93 words