The Business Times, 21 February 1977
1977-02-21
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The Business Times
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Title Section9 1977-02-21 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, FEBRUARY 21, 1977 50CENTS9 words
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NEWS IN BRIEF
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Article66 1977-02-21 1 Reuter WASHINGTON, Sun. President Carter has ordered an intensive review of US foreign Intelligence operations, following allegations that the Central Intelligence Agency (CIA) made secret payments amounting to millions of dollars to foreign leaders. The reports named King Hussein of Jordan as one of the leaders, andReuter - 66 words
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Article72 1977-02-21 1 Reuter HONGKONG. Sun. Some 350,000 DeoDle are facing food shortages in the central Vietnam; province of Nghe Tlnh following a long drought last year, the Vietnam News Agency reported yesterday. It said the winter rice crop In the province was seriously affected by the drought, and effortsReuter - 72 words
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Article46 1977-02-21 1 Reuter JAKARTA, Sun. Garuda Airlines and UTA of France reached agreement on increasing the number of flights between Jakarta and Paris, a Garuda spokesman said. Under the agreement, both airlines will fly twice weekly to and from Jakarta and Paris from April 1. ReuterReuter - 46 words
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Article60 1977-02-21 1 Reuter TOKYO, Sun. Trade and Industry Minister Tatsuo Tanaka said the Japanese Cabinet will introduce a bill to Parliament soon to raise Japan's contribution to the Asian Development Bank to US$l.42 billion (553.5 billion) from $603 million. The increased Japanese contribution is part of the Development Bank'sReuter - 60 words
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Article53 1977-02-21 1 AP BANGKOK, Sun. Two border policemen were killed and two others wounded when they stepped on landmines planted by Cambodian soldiers along the Thai-Cambodian border in southeastern Thailand, the border police headquarters in Bangkok said today. The incident took place on Friday in Chanthaburi province, 220 kmAP - 53 words
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Article49 1977-02-21 1 Thailand Laos air pact Reuter HONGKONG, Sun. Laos has signed an aviation agreement with Thailand providing for regular flights between Vientiane and Bangkok, the Pathet Lao News Agency reported. The agency, monitored here, gave no details of the agreement and did not say when regular flights would start. ReuterReuter - 49 words
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Article63 1977-02-21 1 UPI BANGKOK, Sun. The United States and Thai navies will hold joint manoeuvres next week, officials announced today. The US mission in Bangkok said the Seventh Fleet landing ship USS Montlcello arrived in Pattaya south of Bangkok yesterday and its crew will be given shore leave at theUPI - 63 words
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Article37 1977-02-21 1 UPI RAWALPINDI, Sun. The International Monetary Fund (IMF) will provide Pakistan with financial assistance valued at 80 million Special Drawing Rights during the current year, IMF managing director Johanne Witteveen announced here today. UPIUPI - 37 words
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Article53 1977-02-21 1 Reuter MANILA, Sun. Cotobato City was rocked during the night by what seismologists said were two more of the hundreds of after-shocks that have struck the southern island of Mindanao since a killer quake and tidal waves devastated large areas last August. No damage was reported from theReuter - 53 words
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Article38 1977-02-21 1 AP HONGKONG, Sun. The Hongkong royal observatory has Installed a sophisticated video recording system, the first of its kind in the world, to help track the development and movement of cyclones, a spokesman reported today. APAP - 38 words
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Article37 1977-02-21 1 Reuter BAHRAIN, Sun. Ras El-Khaimah, one of the seven Gulf states forming the United Arab Emirates (UAE), hopes to start producing and exporting oil next year, the Gulf Weekly Mirror said here today. Reuter.Reuter - 37 words
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Article110 1977-02-21 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 1976/77. Company Turnover Price# HiKh Low 000 Feb 17 1976/77110 words
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LOCAL STOCK INDICES
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Article71 1977-02-21 1 Feb 14 Feb 15 Feb 16 Feb 17 Feb 18 B.T. Index: 263.09 262.56 264.07 267.41 Closed Industrials: 254.72 254.30 254.75 255.27 Closed Finance: 441.41 440.42 442.67 444.47 Closed Hotels: 155.77 156.36 156.89 157.41 Closed •x Properties: 147.57 146.01 146.99 147.30 Closed Tins: 105.28 105.19 105.19 105.38 Closed •f71 words
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Article80 1977-02-21 1 Feb 14 Feb 15 Feb 16 Feb 17 Feb 18 B.T. Index: Industrials: 200.26 200.40 202.10 203.68 Closed 275.03 275.87 276.34 277.61 Closed 8 Finance. 375.07 375.77 376.61 377.30 Closed Hotels: 171.54 171.60 171.60 171.60 Closed Properties: 144.12 144.27 144.42 144.62 Closed Tins: 105.15 105.22 105.31 105.30 Closed S80 words
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828 1977-02-21 1 ANTHONY ROWLEY - PRODUCERS, CONSUMERS WAIT ANXIOUSLY By ANTHONY ROWLEY MALAYSIAN Primary Industries Minister, Datuk Musa Hltam, is expected to make a statement in New York early next week Indicating whether his efforts to avert an impending crisis in the world tin market have succeeded. The828 words
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355 1977-02-21 1 KUALA LUMPUR, Sun. Tin production in Malaysia, Indonesia and Thailand, three of the major producers, is expected to drop this month because of the Chinese New Year. Production is likely to fall by several thousand tonnes as the mines have shut down355 words
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230 1977-02-21 1 AP ROTTERDAM, Sun. Strike action by dockers at the Rotterdam Port Is costing up to 10 million guilders (about B*o.B million) a day In lost handling revenue, port authorities said yesterday. The world's largest port has been crippled by the wave of strikesAP - 230 words
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Article124 1977-02-21 1 UPI COLUMBUS (OHIO), Sun. Coast Guard Commandant Admiral Owen Slier said yesterday the Coast Guard Is boarding every foreign oil tanker before It enters an American port. Adm Slier said tankers are now being inspected for safety and Its fuel transfer equipment. He saidUPI - 124 words
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396 1977-02-21 1 THE Singapore Chinese Chamber of Commerce failed again yesterday, at its second attempt, to select a candidate for the chamber residency to replace Mr. an Keong Choon who retires from the position next month. Mr. Tan said after yesterday's meeting of the 55member396 words
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Article350 1977-02-21 1 Reuter LONDON, Sun. Gold may exceed US$l4O (5J343) an ounce In 1977 before selling sets In, unlike the later stages of last year when selling began as It approached that level, Moscow Narodny Bank said In Its quarterly review. It said demand Is quite firm currentlyReuter - 350 words
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Article257 1977-02-21 1 UPI TEHRAN, Sun. Iran announced a record U5549.5 billion (*****.2 billion) budget for fiscal 1977/ 78 today despite cuts In defence spending due to reduce petroleum exports. Abdol Majld Majldi, Minister of State and director of planning ant* budget organisation, said the budget includes $1.3 billionUPI - 257 words
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297 1977-02-21 1 AP Reuter BANGKOK, Sun. Prime Minister Thanin Kraivichien haa announced a three-year economic development programme designed in part to ward off possible economic competition from neighbouring communist states. He said the Government might have to obtain large foreign and domestic loans for theAP; Reuter - 297 words
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Article308 1977-02-21 1 SINGAPORE'S export performance In the third quarter of last year was a good deal more impressive than the average for less developed countries (excluding major oil exporters), according to the International Monetary Fund. Latest statistics from the IMF show that between the second and third308 words
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Article164 1977-02-21 1 AP MANILA, Sun. The Government soon will make 10,000 Jobs available to sugar industry workers displaced by production cutbacks due to low world prices, Labour Secretary Bias Ople said today. In a speech at the workshop for representatives of the Inter-Agency Task Force on sugar,AP - 164 words
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Article117 1977-02-21 1 Reuter DETROIT. Sun. General Motors Corporation (DM) yesterday confirmed that It was being Investigated by the United States government In connection with possible criminal tax fraud. A spokesman for the company refused to give any details of the probe, but said It was begun several monthsReuter - 117 words
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Page 1 Advertisements
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Advertisement54 1977-02-21 1 ©Wiyfoong MAF A lending hand when Wayfoong Mortgage you need and Finance (Singapore) Limited It ITIOSI Shaw House. Ground Floor. 354 Orchard Road. Singapore 9. Tel: *****7. Market reviews/ TV ft Radio Leisure/Crosswords Features International Co. news/Overseas News Local Co. news/Share information P6 Overseas Markets P7 Commodities P8 Sports PS54 words
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Advertisement121 1977-02-21 1 NCD? ACBC makes it easy. When you require Negotiable Certificates of Deposit, you'll find it easy to talk to the people at ACBC. ACBC offers high interest rates on NCD s, for minimum deposits of $100,000, on fixed periods of not less than 3 months. ACBC has the resources, experience121 words
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Advertisement170 1977-02-21 1 NOW' Cool healthy poUubon-f tee driving is POSSIBLE COOL. M/ASTEW purcacc CAR AN) CONOmONB) AIR PVJRRER CHUNG SHAN MOTORS S U GOl PHIL Tel *****2 .>4O L AVEMDfR STWf f T To) *****80 rrf-.ii That's why we built apartments in Hong Leong Building. M Pi r /> I \v* i170 words
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Article657 1977-02-21 2 THE first anniversary of the Asean summit conference in Bali will be marked on Thursday with a special meeting of the organisation's foreign ministers. But there will be more to this gathering in Manila than birthday symbolism, for the ministers will sign the agreement which provides the657 words
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MARKET REVIEW
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374 1977-02-21 2 NEW YORK NYT THE New York stock market staged a technical rally last week, after six consecutive weeks of declines, with the Dow Jones Industrial average moving ahead 8.72 points to 940.24. One analyst commented that the upswing was long overdue. In theNYT - 374 words
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365 1977-02-21 2 IVAN FALLON - LONDON Br IVAN FALLON EACH week In the London stock market produces Its share of drama, but few have produced more than the last one. Starting from the time the Bank of England suddenly intervened to peg minimum lending rate at365 words
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269 1977-02-21 2 SYDNEY Reuter THE Sydney stock market staged a firm recovery last week, with share prices rallying across a wide front as buyers became more aggressive and overseas buying Interest, particularly from Britain, more pronounced, dealers said. Treasurer Lynch's statement on theReuter - 269 words
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Article321 1977-02-21 2 THE shares of Harrisons Malaysian Estates (HME) have crept almost unnoticed onto the London stock exchange. The papers are still quoting the three constituents, the "Harrison Sisters," but no-one is quoting HME yet. Of course, shareholders in the three sisters do not receive their HME certificates for321 words
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Article279 1977-02-21 2 THE bid by LYC Securities Berhad for Batu Matang rubber raises some Interesting points about Slme Darby. Slme has a third of the Batu Matang shares which, In money terms, even on the offer of 83 pence a share, Is worth a negligible £260,000. Analysts In279 words
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Article146 1977-02-21 2 THE Chinese New Year Is always a time In London for the brokers to send out their circulars evaluating the prospects of Singapore, Kuala Lumpur and the Hongkong stock markets. Last year great things were expected from the Dragon which signally failed to materialise. The Rabbit before that146 words
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Article778 1977-02-21 3 N. N. HANDA - By N. N. HANDA Mr. Handa is the director and general manager of the Great Eastern Life Assurance Co. Ltd. IN WRITING about one man's week, I felt that Riving description of what has happened during a particular week will probably not be fully representative of the778 words
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Article, Illustration706 1977-02-21 3 t MUSIC 1 By CKT ACTUALLY, can one still tie something up with Hollywood and mean no disparagement? But I mean no disparagement when I say that Tchaikovsky would have been a natural for Hollywood, circumstances permitting. The guy whoBy CKT - 706 words
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Article, Illustration994 1977-02-21 3 Amoreas Freund - i FILMS 1 By Amoreas Freund JACQUES TATI, the Inventor of Mr. Hulot, who has been on an enforced holiday for most of the last eight years, says he Is going back to work.994 words
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896 1977-02-21 3 ANTHONY THORNCROFT - By ANTHONY THORNCROFT Financial Times News-Features ONE of the great art mysteries of the moment Is what has happened to the Ducclo. In July Christie's sold "The Crucifixion" a masterpiece by the early 14th Century Slennese painter, for £1 million (5J4.2 million), collectingFinancial Times News-Features - 896 words
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Article287 1977-02-21 2 tBOOKS 1 THE recognition of a scholar's greatness doesn't always come within his lifetime. It may take decades or even centuries before a person's contribution can be accepted possibly because a field has not yet reached a point where a truly original contribution can be assimilated,287 words
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860 1977-02-21 2 LEONARD SILK - By LEONARD SILK NYT theory but also would be "the nucleus of a thrust to Increase the accuracy of measurement of economic statistics and of an accompanying effort to introduce people of other disciplines to the development and application of economic theory toNYT - 860 words
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Article877 1977-02-21 2 John P. MACKINTOSH - By John P. MACKINTOSH John P. Mackintosh is Labour MP for Berwick and East Lothian and Professor of Politics at Edinburgh university. Financial Times The Delusion of Incomes Policy by Samuel Brittan .and Peter Lilley, Maurice Temple Smith, £650 (paperback £3.00). 234 pages. MR. SAMUEL BRITTAN. principalFinancial Times - 877 words
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Page 2 Advertisements
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Advertisement201 1977-02-21 2 Have you got your copy of die 1976 77 BUKUMERAH? The complete filing cabinet on the Singapore business scene ALPHABETICAL index SINGAPORE GENERAL OFFICIALS ANO PUBLIC BODIES o MBfWT Wll ■St The Straits Tints DIRECTORY OF SINGAPORE *r*m mm *»v 5 A ADDRESS: Please supply copy /copies of the Buku201 words
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Page 2 Miscellaneous
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Miscellaneous341 1977-02-21 2 k Weather report for 24 hours prior to 7.30 p.m. on Feb 20 at Singapore airport. Maximum temperature I 29.3° C Associated humidity Minimum temperature 22.2° C Associated humidity Hours of sunshine 1.75 Rainfall in millimetres 6.4 Total rainfall for the month 83.3 Total rainv days for the month 10341 words
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Page 3 Advertisements
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Advertisement270 1977-02-21 3 4 KUALA LUMPUR Where the byword is service. Fast, efficient, smiling service. A helping hand at your elbow, a warm spontaneous smile with your drink, genuine concern for your conjlort and ease. Naturally we've facilities of international standard: luxurious rooms, convention facilities, speciality restaurants serving first-class Continental, Japanese and Chinese270 words
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Page 3 Miscellaneous
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Miscellaneous403 1977-02-21 3 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS Fancies the doctor takes the same mixture (6) Like a small town with a unique source of power (3-5) Men deep in toll? (6) A difficult case (5) Finished unfairly? (4) Trade disappointment? (4) Manages to make urns (4) Knock a winner (3) Appear to403 words
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Article, Illustration1715 1977-02-21 4 LOW CHEE CHOO - The future of the Malaysian textile and clothing industry is being threatened by fierce foreign competition, higher costs and more exacting consumer demands. LOW CHEE CHOO reports. LOW CHEE CHOO THE MALAYSIAN textile and clothing industry is facing an up-hill struggle with its long-term viability1,715 words
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870 1977-02-21 4 Lots of interesting facts but no straight answers t BOOKS J, NYT Solar Energy: The Awakening Science. By Daniel Behrman. 408 pages. Illustrated. Little, Brown. USS 12.50. Reviewed by Christopher LehmannHaupt. PERHAPS one dead Daniel Behrman's "Solar Energy: The Awakening Science" In the wrong frame of mind. But what frameNYT - 870 words
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542 1977-02-21 4 AP WITH Increasing talk of a new spring In literature and art, China's moderate leadership appears to be heading the country for a period of change that could produce sweeping political, social and cultural liberalisation. The unanswered question IsAP - 542 words
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Advertisement476 1977-02-21 4 >r *4 t i 3® 11 mmm s. <««' <ir Southeast Asia has as many faces as there are eyes in a peacock's tail And the Straits Times Annual has painted them all, in peacock-colours. Living up to a long-established record of quality reporting on the culture, on history and476 words
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Page 4 Miscellaneous
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Miscellaneous189 1977-02-21 4 CROSSWORD SOLUTIONS EASY SOLUTION ACROSS 4. Refuse. 7, Concerto. 8 Scarce. 10, Owing. 13, Beat. 14, Role. 15, Best 16, Fad. 17, Apes. 19, Kill. 21, Frigidity. 23, Loss. 24, Done. 26, Gap. 27, Then. 29, Mugs. 32, Goes. 33, Asset. 34, Ribald. 35, Gymkhana. 36, Change. DOWN i. Actor.189 words
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INTERNATIONAL COMPANY NEWS
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Article228 1977-02-21 5 Reuter CHICAGO, Sun. Sony expects to report earnings for the first quarter ended Jan 31 up about 28 per cent from the year-ago U*****.7 million, chairman Mr. Aklo Morlta told analysts. Sales for the period were up about 14 per cent from $381.0 million. Mr. MorltaReuter - 228 words
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Article52 1977-02-21 5 SYDNEY, Sun. Acmil has reported net profit of A 55.08 million for the first six months ended Dec 31, 1976, compared with $3.85 million last time. Gross revenue increased to $99.09 million from $89.34 million last time. Acmil is maintaining the Interim dividend at 2.5 cents, payable on52 words
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Article298 1977-02-21 5 LONDON, Sun. Growth in current account balances and higher interest rates have pushed pre-tax profit at Lloyds Bank 54.7 per cent higher to £147.73 million (£95.5 million) last year. Earnings per share jumped to 47.8p from 30.77p and Lloyds has raised the total dividend to298 words
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169 1977-02-21 5 Reuter TOKYO, Sun. Toyota Motor Sales said it will make a one-for-10 scrip Issue to shareholders as of the end of March, increasing Its capital to 18.9 billion yen from the present 17.2 billion. Toyota said the scrip issue Is aimed at returning to shareholdersReuter - 169 words
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Article291 1977-02-21 5 Reuter LOS ANGELES, Sun. General Motors results for the first quarter will show some effects from the cold weather which slowed production, president Mr. Elliot M Estes told a press conference here. Mr. Estes said General Motors lost six to seven days of national production, equalReuter - 291 words
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Article179 1977-02-21 5 Reuter TOKYO, Sun. Canon expect® to report after-tax 1976 profit of about 3.90 billion yen compared with the 819 million yen In 1975, on sales exceeding 100 billion yen compared (75.05 billion yen), a company spokesman said. The company's profit before tax and special Items isReuter - 179 words
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109 1977-02-21 5 Reuter EINDHOVEN, Sun. Philips Oloellampen-Fab-rieken said its 80 million Swiss franc 15-year debenture loan will carry a five per cent coupon and be issued at par. A consortium led by Schwelzerlsche Kredittanstalt will arrange placement between Feb 25 and March 2. Final redemption will beReuter - 109 words
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Article79 1977-02-21 5 NEW YORK. Sun. Polaroid will demonstrate an Instant movie picture system at Its April 26 annual meeting, with public introduction scheduled sometime this year, photography industry sources said. Polaroid president Mr. William J. McCune Jr, in an interview with Reuters, declined to admit or deny the demonstration was scheduled79 words
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Article103 1977-02-21 5 RICHMOND, Sun. Reynolds Metals expects disappointing first quarter earnings compared with the year-ago quarter's 76 US cents a share, chairman Mr. David Reynolds said in a statement. In the year-ago first quarter, ended March 31, Reynolds earned $13.30 million. Mr. Reynolds attributed the first quarter outlook103 words
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413 1977-02-21 5 Saab Scania suffers earnings decline FT STOCKHOLM, Sun. Saab-Scania, the swedlsh commercial vehicle, car and aircraft manufacturers, experienced a 22 per cent fall in earnings last year In spite of a 21 per cent growth In sales. Oroup turnover was Kr.9.58 billion (£1.31 billion) of which 44 per cent wasFT - 413 words
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OVERSEAS
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677 1977-02-21 5 $1.2 bil FOR A START NEXT YEAR AP WASHINGTON, Sun. The Carter Administration is planning to cut actual US defence spending next year by US$5OO million (Ssl.2 billion) a senior American defence official said over the weekend. The official also said President Carter plansAP - 677 words
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174 1977-02-21 5 AP WASHINGTON, Sun. The former head of the US Environmental Protection Agency said American energy policy should aim for "the phasing out and eventual elimination of all nuclear power." Mr Russell Train, who first headed the President's council on environmental quality and then theAP - 174 words
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397 1977-02-21 5 Washington Star WASHINGTON: Secretary of Transportation Brock Adams, a longtime supporter of building a US supersonic passenger plane, said last weekend he no longer supports such a plan. Mr. Adams told a group of reporters that he believes there's no way an SST canWashington Star - 397 words
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Article39 1977-02-21 5 AP LIMA, Sun. A group of Japanese banks headed by the Bank of Tokyo has agreed to lend up 9US4O million (Ss9B million) to Peru's Central Bank to reduce Peru's balance of payments deficit. APAP - 39 words
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Article140 1977-02-21 5 Reuter LONDON, Sun. The secretary-general of Britain's Trades Union Congress, Len Murray, called for an early and controlled return to free collective wage bargaining in the country, but warned against wages explosion. Mr. Murray, opening a Job centre in Chatham, Kent, said a wages explosion, whether itReuter - 140 words
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339 1977-02-21 5 UPI Reuter CARACAS, Sun. President Carlos Andres Perez has put off a trip to Washington and has scheduled Instead an April visit to partners in the Organisation of Petroleum Exporting Countries Saudi Arabia. Iran and Qatar El Naclonal newspaper reported this weekend.UPI; Reuter - 339 words
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Article55 1977-02-21 5 Reuter CANBERRA, Sun. The Australian Cabinet approved a rise in Australia's contribution to the Asian Development Bank to US$OO2 million (811.47 billion) from 1340 million, Treasurer Phillip Lynch said. The contribution Is part of the second general Increase in the Bank's capital to $8.7 billion fromReuter - 55 words
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Advertisement86 1977-02-21 5 Socialism T T N I ogress iment i explosive This is what Socialism That Works The Singapore Way is all about. It is powerful writing that is aimed at dispelling the many halftruths perpetrated by hostile parties and accepted by the ignorant. $9.60. &J9 trade union and student movement and86 words
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COMPANY NEWS
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1370 1977-02-21 6 ARTHUR NG - By ARTHUR NG AFTER turning In an impressive interim performance, Hong Leong Finance looks all set to report another record profit r for the year ended Dec. 31, f 1976- r At half-time, the group v achieved a 23.14 per cent rise i in pre-tax1,370 words
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COMPANY MEETINGS
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Article22 1977-02-21 6 THE following company meetings are due: Feb 21. 11 a.m., Bth Floor, U.M.B.C. Buildings, Jalan Suleiman, Kuala Lumpur22 words
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Article13 1977-02-21 6 Feb 25, 12 noon, at 4701 OCBC Centre. Singapore 1.13 words
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Article15 1977-02-21 6 Feb 28, 12 noon, at Supreme House (11th Floor), Penang Road. Singapore15 words
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18 1977-02-21 6 Feb. 28 12.30 pm at Supreme House (ilth floor) Penang Road. Singapore.18 words
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Article155 1977-02-21 6 Current Ex Date Total for Total for payment Date payable the year previous year N.B. Timbers 3%+ Jan 20 Feb 21 3%+ 15.4%a Strait* Time* 27.5% Feb 11 Mar 3 27.5% Time* Publishing 17.5% Feb 11 Mar 3 27.5% 25% M. Tobacco 35% Feb 7 Mar 18 50%155 words
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Article2164 1977-02-21 6 ittt/n High Low Last Company Sale Gr'« Gr'i Net Week WMk Dhr Dhr Y*M P/l Vol Week Crr C000) High Low H SECTION ONE industrials 1 2 175* 131 206 100 237 133 130 172 60 185 Acma Acma A Alcom Allied Choc Bata 1422,164 words
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Page 6 Advertisements
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Advertisement412 1977-02-21 6 pis 1 THE GREAT BOOKS of the beautiful, durable bindings BLB the fundamental Ideas of mmwm ■■UilLiK^P science, history, psychology, WW m Here In beautiful, durable bindings Is the whole record of the fundamental ideas of mankind science, history, psychology, mathematics, theology, literature and poetry. This magnificent library provides the412 words
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WALL STREET AND OTHER OVERSEAS MARKETS
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Article1053 1977-02-21 7 NEW YORK: A bearish news background and normal caution ahead of a three-day holiday weekend pushed stock prices moderately lower In the slowest trading of the year last Friday. The New York Stock Exchange Is closed today for the Washington's birthday holiday. The bearish trend was an extenslonof1,053 words
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Article341 1977-02-21 7 AMSTERDAM: The gradual decline of the market over the past week accelerated last Friday as many operators closed positions, dealers said. Limited offerings met an almost complete lack of buying interest and the market Is expected to continue quiet early next week due to pre-lent carnival celebrations Dutch Internationals341 words
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Article458 1977-02-21 7 TOKYO: Share prices closed lower after opening firm last Friday. The Dow Jones average lost 18.57 to close at 5,037.93 with volume 330 million shares. The New index closed at 380.20, down 1.29. Petroleums, some foods, fats and oils turned downwards, reversing Thursday's rise, while electrlcals, motors and precision458 words
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Article334 1977-02-21 7 PARIS: The market was lower on balance last Friday, partly under the Influence of the 3/16 of a percentage point rise In call money to 9** per cent, dealers said. On Thursday most shares were also lower in calm trading. Most sectors were weaker though electrlcals were Irregular. banks334 words
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Article226 1977-02-21 7 MILAN: The market closed firmer In active trading with rumours of possible proposals for a bill lowering taxes on firms' profits helping stocks last Friday. After an uncertain opening In small trading, activity revived thanks to a flow of buying orders. Among Industrials, both Pirelli, Stet, Snia Vitcoca, Montedison226 words
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Article241 1977-02-21 7 ZURICH: The market generally closed barely steady In quiet dealings last Friday, with buying Interest dampened by renewed weakness on Wall Street, dealers said. The market closed narrowly mixed In active trading on Thursday. State bonds closed weaker In places following news that the National Bank has taken over241 words
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Article450 1977-02-21 7 JOHANNESBURG: Oold shares moved off the top despite steady overseas bullion indications in a generally quiet market last Friday, dealers said. Financial minings were steady at higher levels. In diamonds. De Beer* ruled one cent higher at 383. Coppers were firm but platinums were unchanged, while asbestos counters lost450 words
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Article286 1977-02-21 7 TORONTO: The Toronto gold Index moved above 1000 for the first time in almost 18 months as a late session rally resulted In a slightly higher closing last Fri- day. Trading was moderate. I P on the golds, Camflo added %at 11H, fiMhrfl R«d Lake D«*eMiieel*atso, and Giaat-Yeilowkmi/e at286 words
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Article153 1977-02-21 7 BRUSSELS: Shares closed mixed to higher In quiet trading last Friday, dealers said. In foreign stocks, UK Oerman and Canadian were little changed. Dutch fell slightly and French fell Petroflna and Its Canadian unit fell, but US PetroAna rose On Thursday, the market was generally higher, encouraged by both153 words
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Article316 1977-02-21 7 FRANKFURT. Shares closed well maintained to firmer In light trading last Friday, dealers said. Most public authority bonds fell up to 0.25 marks The regulating authorities bought a net 2.5 million marks nominal of paper (sold 8.6 million). Mark foreign loans were well maintained. On Thursday, shares eased on316 words
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Article403 1977-02-21 7 SYDNEY: The market firmed on sustained buying support, with mining leaders among the biggest gainers last Friday. The Sydney All-Ordinaries Index rose to 426.46 from 423.35. Energy stocks were very active, with Queensland Mine* gaining 12 cents to A<1.45, Kathleen eight to 90 cents. AAR five to 75 and403 words
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Article93 1977-02-21 7 FEB 18 Ktot Acoje Mining Atlas Con A Atlas Con B B&gulo Oold Benguet Con B BF Ooodrlch CDCP Inco B LepantoB Marlnduque B Meralco Oriental A Oriental B Phil Overseas Phllex A PhllexB Plcop A PlcopB plot PodcoB San Miguel A San MiguelB Seafront Usiphll Vulcan .0155 31.5093 words
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Article60 1977-02-21 7 FINANCIAL TIMES INDUSTRIALS Friday NA Thursday 380.4 Week ago 381.5 DOW JONES AVERAGE INDUSTRIALS Friday 040.24 Thursday 943.73 Week ago 831.52 LONDON DOLLAR PREMIUM Friday NA Thursday 101 to 101WH H.K. HANG SENG Friday closed Thursday 443.73 Week ago 440.82 SYDNEY INDUSTRIALS Friday 349.83 Thursday 348.13 Week ago 349.3560 words
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Article1411 1977-02-21 7 On February 18 PRICES on the Chicago Board Options Exchange declined as losers topped gainers 296 to 110 on Friday. CBOE volume approximated 74,778 contracts. OPTION APL JLY OCT STOCK Alcoa SO 5 11 5 7.8 UTRD 54 1/8 Alcoa 90 UNTRD 1 1/8 UNTRD 54 1/81,411 words
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Article224 1977-02-21 7 Reuter CHICAGO, Sun. The Chicago Board Options Exchange said It will begin trading call options In six underlying Issues traded on the American Stock Exchange Options Market and one Issue traded on the Philadelphia and the Pacific Exchanges. The CBOE said the Amex issues toReuter - 224 words
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Article173 1977-02-21 7 Reuter SYDNEY, Sun. Unaudited net operating profit at Oakbridge rose 53.8 per cent to A 52.86 million ($1.86 million) In the first half-year ended Dec 31, 1976. The profit Jump came on the back of a 16.5 per cent rise In gross revenue to $30.76Reuter - 173 words
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Article126 1977-02-21 7 LUXEMBOURG, Sun. Kredietbank Luxembourgeoise said it will publish fortnightly a new series of price and yield indices for Eurobonds in collaboration with the Luxembourg Stock Exchange. The new indices (base Jan 5 1977,) will all be based on the same basket of bonds, and will be categorised126 words
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Advertisement430 1977-02-21 7 ...THE SYNTOFKON The Syntopicon now makes It possible for anyone to "ask" great thinkers such as Plato, Aristotle, Tolstoy, and Freud about love, art, democracy, Justice or almost any topic .conceived by the human mind. The Syntopicon can guide your hand to the proper volume. Your eyes are directed to430 words
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COMMODITY REPORTS AND PRICES
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Article234 1977-02-21 8 LONDON: Sun. The terminal closed about steady on Friday mostly unchanged (March 54.75 pence seller) to 0.40 pence per kilo higher compared to Thursday night. Volume was 26 lots of five tonnes, 48 lots of 15 tonnes Including 15 kerb trades and five call options. The call options234 words
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Article47 1977-02-21 8 Feb 14 Feb 15 Feb 16 Feb 17 Feb 18 Feb 19 +Tin: $1,515.00 $1,526.00 $1,540.00 $1,551.00 Closed Closed Tonne: 398 350 265 170 Closed Closed •Rubber (S): 204.00 205.25 205.25 Closed Closed •Rubber (M): 207.75 209.00 209.25 Closed Closed per plcul "cents per kilo47 words
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Article257 1977-02-21 8 LONDON, Sun. Tin closed around £7 higher in both contracts. Renewed buying enthusiasm In early pre-market dealings took Three Months standard UDto ffi 2fio but this was short-lived dealers said on Friday. Profit-taking developed and with no guide from the East because of the holiday there and quiet257 words
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Article193 1977-02-21 8 LONDON, Sun Sliver closed 0.3 pence higher to unchanged on Friday. Values drifted slightly below steady opening ring levels but activity was very slow with little fresh Incentive to be drawn from US futures. The LME decision to discontinue trading beyond Three Months In silver from Jan 1 1978193 words
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Article261 1977-02-21 8 LONDON Sun. Copper fell by £4 for Cash wlrebars and £4.50 for Three Months. Cathodes lost mostly £4 Dealers said some end-week selling was prompted by the trend in US futures on Thursday, and the days sagging lead and zinc markets and quiet outside conditions. Monday's US holiday was261 words
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Article149 1977-02-21 8 CHICAGO, Sun. US gold futures closed higher on moderately active trading on the New York Commodity Exchange and the International Monetary Market on Friday. Comex prices closed 60 cents to 70 cents higher on estimated sales of 1,912 contracts compared with Thursday's actual turnover of 1,554 contracts. The contract149 words
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Article81 1977-02-21 8 LONDON, Sun. Zinc was unchanged for both Cash and Three Months on Friday. The market generally followed the trend in lead with fresh buying In early dealings pushing Three Months up to £437 per tonne before profit-taking In the ring took the price back to £432. Ring sales were81 words
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Article157 1977-02-21 8 BANGKOK: Sun. Quiet conditions prevailed in the rice market during the week under review with no business concluded either on government-to-govern-ment or commercial basis, trade sources said. Enquiries were received from Sri Lanka, North West Africa and East Africa but no business has resulted. According to trade sources, Sri157 words
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Article207 1977-02-21 8 LONDON, Sun. Terminal sugar on Friday, recorded first call losses from Thursday's close of mostly £io (near March at £126.00 bid) to £0.25 per tonne. But dealers said the slightly lower levels were roughly in line with overnight kerb rates. Activity was thin. The London Dally Raws price lost207 words
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Article275 1977-02-21 8 CHICAGO, Sun. Soybean futures weakened in early trade but recovered from the lows of their narrow trading range to show losses of Vt to 4% cents a bushel around midday on Friday. The volume of dealings was light and lack of strong buying Interest prompted long profit-taking ahead of275 words
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Article133 1977-02-21 8 CHICAGO, Sun. Corn futures were fractionally lower around midday on a light volume of trade on Friday. Easiness In soybean futures helped prompt light profit-taking ahead of the long weekend. Commercials were limited participants on either side of the market. Wheat surged higher In late dealings to make new133 words
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Article102 1977-02-21 8 LONDON, Sun. Lead at the end of the morning on Friday had small losses of £1.50 for cash and £0.75 for Three Months. But losses were extended on the kerb. A fairly stable trend was seen during the ring after an Irregular pre-market when Three Months had traded from102 words
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576 1977-02-21 8 BUT for the flutter In the price of coffee beans, trading in the Singapore produce market last week ruled generally quiet with prices hardly stirring from the previous levels. Coffee demand by commission houses and endusers building up their seasonal inventory was well sustained until576 words
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Article510 1977-02-21 8 LONDON, Sun. Robusta futures on Friday, ended the extended opening call £41 to £57 per tonne up from Thursday's close. Volume was 1,083 lots of which may traded 584 lots. The tone was steady. New contract highs were again established in all excepts Jan 78 which was untraded. Across-the-board510 words
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Article351 1977-02-21 8 MANILA, Sun. The Philippines has signed contracts for the sale of sugar this year totalling at least 2.4 million tonnes, Philippine National Bank president Panfllo Domingo said. Pricing for the individual contracts, signed since the end of 1976, was not disclosed. But Domingo told journalists the351 words
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MONEY AND EXCHANGES
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Article146 1977-02-21 8 THE British unit stage a sharp retreat from a steady level of U551.7045 to $1.6940/50 following a record UK trade deficit of £545 million. There was also concern that the British labour unions may reject another voluntary wage restraint which Is to expire by end of July. Sterling/ Singapore146 words
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Article329 1977-02-21 8 NEW YORK, The dollar closed slightly higher on balance despite news the US consumer price rise doubled in January and fourth quarter Gross National Product was revised down, dealers said on Friday. The Canadian dollar, French franc and Spanish peseta all came under unusual pressure In trading that329 words
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Article91 1977-02-21 8 TOKYO, Sun. The dollar for overnight delivery recovered moderately to 283.10, after opening sharply lower at 282.70 on Friday, compared with 283.50 at Thursday's close, reflecting the strength of the yen In overseas centres, dealers said. Import settlement needs were at a relatively low level, while selling of dollar91 words
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Article68 1977-02-21 8 STRONG demand for overnight funds pushed the rate to as high as 13 per cent at one stage to cover for the long weekend. This resulted In the month term In par- ticular, being traded at fl j per cent at the close. There was little Interest in68 words
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Article44 1977-02-21 8 FOR the week ended Frldav Feb 17, the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND: 1* to 4H per cent. GENERAL FUNDS: ltt to 4 per cent. Movements of funds totalled $310 million.44 words
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Article367 1977-02-21 8 LONDON. Sun. The fall In UK money supply in the month to mid-January Indicates an even sharper fall In domestic credit expansion (DCE), the yardstick by which the IMF now measures Britain's monetary performance, wellplaced financial sources said on Friday. DCE since April last year Is well within the367 words
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Article267 1977-02-21 8 ZURICH, Sun. The announcement of the very high British trade deficit (£545 million) after a deficit of £216 million In December led to a sharp fall of sterling. Against the dollar It weakened from $1.71 to $1.6950. In this situation the Bank of England tightened the money market conditions,267 words
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Article60 1977-02-21 8 Minimum lending rates (in ACBC .0% First Chicago 8* Algemene Bank 0* Citibank 6*. Bangkok Bank .7* HSBC 7 Bank of America Indosuez 8* Bank of China .7 Malayan Banking 0*. Bank of Tokyo 8*. Mitsui Bank 8*. Bank Negara OCBC 8% Indonesia .7 OUB 0%. Chartered Bank 6*-. UCB60 words
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Article136 1977-02-21 8 Euro rates LONDON, Sun. Eurodollar deposits opened steady on Friday around Thursday's closings and, although little changed, had a slightly offered tendency In periods, dealers said. Funds were reported coming in the middle of quoted ranges with trading continuing quiet. Usual early Singapore interest was absent because of the holiday136 words
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Article224 1977-02-21 8 Asian rates ASIAN currency average deposits rates for the wee* ended Feb 17. USI (Bid Prices) High Low 7 days 4 5/8 1 mth 4 3/4 4 5/8 2 mths 4 5/18 4 11/18 3 mths 5 1/18 4 vie 6 mths 5 1/2 5 1/2 9 mths .5 a/4224 words
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Article32 1977-02-21 8 FRANKFURT exchanges closing quotes on Feb. 18. US 2.3945/55 Can 2.3+50/70 UK 4.075/085 Neth 95.30/76 Bwltz 95.30/36 Italy 2.708/718 France 47.980/984 Japan 0.8440/60 Belg com 6.505/515 Belg fin 6.50/51 Norw 45.40/6032 words
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Advertisement81 1977-02-21 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times I BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) 3 n BUSINESS TIMES Subscription Form Address: Payment for S is enclosed All subscriptions are payable in advance and should81 words
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Article, Illustration1051 1977-02-21 9 ROB HUGHES - HE MIGHT BE ABLE TO DIVERT OUR EYE FROM CRUYFF By ROB HUGHES The Sunday Times LONDON, Sun. Anyone who was there knew that It was a vintage year: that the future of English football was again brighter than any in Europe; thatThe Sunday Times - 1,051 words
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Article333 1977-02-21 9 MANILA. Sun. Hsieh Yung-Yo of Taiwan shot a one-over-par 73 today for a final total of 281 to win the Philippine Open championship. The 42-year-old Hsieh, who plays out of Tokyo, resisted last-minute pressure and a belated challenge by countryman Hsieh Mln-Nan to emerge333 words
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Article87 1977-02-21 9 ST. PETERSBURG, (Florida) Sun Judy Rankin fired a two-under-par 70 yesterday for a 36hole total of 139 and a twostroke lead over Joyce Kazmlerskl in the Orange Blossom Classic. Sandra Palmer was alone In third place with 143, while Sally Little and Judy Kimball were tied87 words
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Article828 1977-02-21 9 JACK FINGLETON - By JACK FINGLETON The Sunday Times SYDNEY, Sun. MANY of us Aussies thought at the time it was wrong to agree to play that baseball match in Johanesburg in 1963. It was for the Jock Cameron Memorial Fund, and it was at the end ofThe Sunday Times - 828 words
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Article544 1977-02-21 9 JURONG Country Club made their debut in the Singapore Golf Association League yesterday and lost both their matches to Keppel Golf Club at Buklt Chermin. Keppel outplayed Jurong by four matches to two in the F and N handicap League Jurong did not field a544 words
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Article419 1977-02-21 9 UPI NEW YORK. Sun. At 1.80 meters, Natasha Chmyreva is an ideal candidate for the Russian women's basketball team. Instead, the 18-year-old journalism major at Moscow University opted to use her height for powerful overhead smashes that she believes will eventually carry her to the US andUPI - 419 words
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Article166 1977-02-21 9 AP NEW YORK, Sun Vitas Gerulaitis settled down after a shaky start and rallied for a 3-6, 6-1, 6-2 victory over fellow American Bob Lutz yesterday in the final of the Ocean City International Tennis Tournament at Maryland. The 22-year-old Gerulaitis, the no. 3 seed in theAP - 166 words
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855 1977-02-21 9 DUDLEY DOUST - By DUDLEY DOUST The Sunday Times NEW YORK, Sun. After he had stooped to feel the texture of the grass, and finger the edge of the cup, Charley Boswell paced with his caddie across the green to his ball. He counted as heThe Sunday Times - 855 words
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Article537 1977-02-21 9 Reuter BRIDGETOWN, Sun. The West Indies made a solid and often flamboyant start to their pursuit of Pakistan's first innings total of 435 on the second day of their First cricket Test at the Kensington Oval here yesterday. When rain and bad light stopped play 25Reuter - 537 words
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Article, Illustration866 1977-02-21 9 AP UPI LONDON, Sun. Leicester shook top-of-the- table Ipswich 1-0 yesterday and reigning champions Liverpool bounced back to the head of the English First Division soccer League with a 3-1 victory over Derby. Ipswich, whose 5-0 midweek thrashing of Norwich took them ahead of Liverpool on goalAP; UPI - 866 words
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Page 9 Advertisements
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Advertisement68 1977-02-21 9 WHATEVER YOUR STYLE OF PLAY -> t i v, You can be sure KWIZ hat a complete range of darts and acceoories for players who aim to win. m Spear-headed by brass or chrome plated barrels and nickel plated points, you'll find a choice of cane, nylon or the latest68 words
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Article256 1977-02-21 10 Reuter JAKARTA, Bun. The Indonesian government has issued a decree banning political parties from Intimidating each other during the two-month general election campaign starting on Thursday. National security cmet Admiral Soedomo told party leaders here last night that the decree banned parties from threatening each other,Reuter - 256 words
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Article308 1977-02-21 10 FOR 16 years now, a smallish, llttle-talked-about company has turned a mall service Into a "reasonably profitable" business to go into. Oh's direct mall service, a sole proprietorship, handles direct mall advertising not only In Singapore, but also in East and Peninsular Malaysia, and308 words
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118 1977-02-21 10 KUALA LUMPUR, Sun. National Umno Youth's special committee studying the communist "grand design" in this country, its implications and effects, will hold its first meeting here tomorrow, a spokesman said today. The committee would study the matter in greater detail in order to compile118 words
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Article137 1977-02-21 10 KUALA LUMPUR, Sun. A sixteen-man delegation from Fabrlmetal the Belgian federation of metal industries will be visiting Malaysia on March 4. This was disclosed by the Belgian ambassador to Malaysia Baron de Vleeschauwer here today. They will be here to look into Investment opportunities. While they are137 words
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186 1977-02-21 10 THE "downhill drive" of the French franc, the British pound and the Italian lira can be brought under control this year, as in the course of their economic development, these countries are expected to improve their current accounts, a Commersbank report states. The186 words
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200 1977-02-21 10 HOTEL Sari Pacific, one of Jakarta's newest luxury hotels, in a campaign to in- 1 crease its occupancy rates has launched a special discount scheme for International companies whose executives travel extensively to Indonesia. The hotel announced that in addition to an automatic 15 per200 words
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Article30 1977-02-21 10 Reuter LONDON, Sun. UK Chancellor of the Exchequer Denis Healey will present his 1977/78 budget to the House of Commons on March 29, the Government announced In Parliament.Reuter - 30 words
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Article539 1977-02-21 10 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKG OA OA472 0200 SYD/MEL JAL JL712 1000 HLP SIA SQ211 1010 HLP GIA GA980 1030 HLP CPA CX710 1030 HLP THAI TG423 1035 BKK GIA GA908 1100 MES PAL PR501 1115 MNL SAS SK097 1140 CPH/DEL/BKK539 words
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525 1977-02-21 10 HEALEY TIPPED TO SUCCEED CROSLAND Reuter LONDON, Sun. British Prime Minister James Callaghan is expected to reshuffle his Cabinet tomorrow following the death of Foreign Secretary Anthony Crosland. Chancellor of The Exchequer Denis Healey was being widely tipped to succeed Mr. Crosland, who died yesterdayReuter - 525 words
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Article426 1977-02-21 10 UPI DAMASCUS, Sun. Secretary of State Cyrus Vance arrived at the last stop of his six-nation Middle East tour today with a new assurance that Saudi Arabia will hold the line on oil prices. In the past, the Saudis have linked their relatively low priceUPI - 426 words
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Article125 1977-02-21 10 AP MANILA, Sun. The Philippines and Spain will start negotiating a tax treaty on Tuesday, a Finance Department spokesman said today. The spokesman said the Spanish negotiating panel, composed of four senior Spanish government officials led by Luis Del Arce Ruete, sub-heneral de Relaciones Flscales Internaclonal,AP - 125 words
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193 1977-02-21 10 MANILA, Sun. Philippine total exports of goods and services are estimated to grow by about U*****.5 million (SsBsl million) over last year's $2,172 million, Bancom Development Corp president Slxto Roxas said. The expected growth In the value of exports for this year Is double193 words
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765 1977-02-21 10 AFTER only two years of operation, Neptune Agencies (NA) has already come up with a philosophy of its own always be in step with the principal's trend and even anticipate It If possible. Neptune Agencies is a wholly-owned subsidiary of Neptune Orient Line (NOL)765 words
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Article440 1977-02-21 10 LONDON, Frl. The stock market closed narrowly mixed after a quiet session and at 3p.m., the Financial Times Index was up 2.0 at 303.0. Early small gains were pared after the January retail price Index which showed a 2.6 per cent rise compared with December. This factor was440 words
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267 1977-02-21 10 DESPITE depressed demand for private residential properties in Singapore, the price of newly constructed houses is found to have finned marginally since last year. Average market prices for newly constructed houses have increased by 9.6 per cent this year, from $146,000 in267 words
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531 1977-02-21 10 KUALA LUMPUR, Bun. The Government Is expected to announce its stand on the present tussle between loggers and log users In peninsular Malaysia concerning the future of log exports sometime this week. Acting Primary Industries Minister, Mr. Paul Leong, Is likely531 words
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Page 10 Advertisements
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Advertisement202 1977-02-21 10 VAPORAX The third generation l automatic packaged steam boiler that helps you cut costs in k four different ways faster steaming times less fleer area required Higher efficiency Lower capital cest Now manufactured in Malaysia Available from 150 kg/hr to 5000 kg/hr capacity and woddng pressures 10,15.20 kg/cm* and above.202 words
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