The Business Times, 1 August 1977
1977-08-01
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The Business Times
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Title Section10 1977-08-01 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, AUGUST 1, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article110 1977-08-01 1 AFP KUALA LUMPUR,-Sun. Thai Foreign Minister Upadlt Pacharlyangkun said here today that his country had no 111-feeling whatsoever against anyone, particularly towards her close neighbours, Laos and Cambodia. Dr. Upadlt said that Thailand was prepared to do anything for peace and stability In this part of the world.AFP - 110 words
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Article81 1977-08-01 1 AFP CANBERRA, Sun. Deputy Prime Minister Doug Anthony had "Inconclusive" talks with two top Japanese sugar officials yesterday about the longterm Australian Japanese sugar contract, according to official sources today. Mr. Anthony met the Japanese because of a dlsgute between" Japan and Australia's Colonial ugar Refinery over aAFP - 81 words
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Article64 1977-08-01 1 Reuter NICOSIA, Sun. A consortium of US companies has won a contract worth US$l billion (8*2.4 billion) In Saudi Arabia to build an entire city as well as support facilities for a military training centre, the Middle East Economic Survey said. The city, to be built InReuter - 64 words
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Article54 1977-08-01 1 AFP JAKARTA, Sun. Indonesia and Burma are currently studying plans for increased bilateral cooperation In communications, trade and mining, Indonesian Communications Minister, Mr. Emll Sallm, said yesterday on his return from signing an air services agreement In Rangoon. He said cooperation would start Immediately In aircraft overhauling,AFP - 54 words
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Article73 1977-08-01 1 Reuter BONN, Sun. West German businessmen working in Britain put the blame for the country's economic plight on British management, not British workmen, the left-wing news magazine, Der Spiegel, said In its latest Issue out today. The idea that the British workman is dedicated to tea-breaks andReuter - 73 words
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Article73 1977-08-01 1 BETONtj, Sun. More than 10,000 people today demonstrated against the communists In support of the current Malaysia-Thai operation which began on July 4. Most of the demonstrators came from the nearby villages, carrying more than 20 antl.-com-munist slogans written in both Thai and Malay languages. They also carried73 words
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Article69 1977-08-01 1 AFP ABU DHABI, Sun. The Pakistani "Janata" Bank, which went bankrupt with three other foreign banks last May, was today authorised by the Monetary Council to open Its doors again. Two conditions have been attached to the reopening. Janata must elect a new board of directors andAFP - 69 words
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Article80 1977-08-01 1 NYT MONTREAL, Sun. The Quebec government has paid a political debt to labour but has further alienated management with proposed legislation that would forbid companies from using strikebreakers to continue operations during strikes or lockouts. But business groups attacked the measure, saying it would give the unions aNYT - 80 words
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Article115 1977-08-01 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, *»««afaig prices on Friday and the high and low for 1977! Company Turnover Price* High Law •000 July 29 i*n115 words
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LOCAL STOCK INDICES
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Article70 1977-08-01 1 July 25 July as July 27 Ja|y28 July 29 tt BT Index: 388.38 383.28 384.74 381.04 387.58 Industrials: 205.04 283.37 203.00 203.87 284.47 ft Finance: 432.32 447.43 440.01 S»47.34 447.24 Hotels: 100.35 105.67 105.50 '105.04 105.74 Properties: 170.28 108.75 108.88 170.08 171.40 t Tins: 110.58 110.04 111.25 111.08 111.8870 words
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Article74 1977-08-01 1 ft BT Index: July 26 July 21 July 27 July» Ju|y2» 394.16 389.17 389.46 399.37 401.03 ft inauairi&is: 291.71 290.74 290.16 291.08 291.24 Finance: Hotels: 383.62 382.27 380.40 382.79 383.31 173.96 173.80 173.80 173.65 173.73 t t Properties: 158.24 157.03 156.48 157.44 157.84 Tins: 119.79 115.46 115.92 115.96 116.1074 words
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Article, Illustration1273 1977-08-01 1 QUEK PECK LIM - HEADS OF GOVT DECISION AWAITED »r QUEK PECK LIM ASEAN is no nearer to realising the five Industrial projects than 16 months ago when they were proposed at the heads of government meeting In Ball. This was revealed by Foreign Minister Mr. 3. Rajaratnam at1,273 words
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Article812 1977-08-01 1 PRIME Minister Takeo Fukuda's attendance at the Asean summit in Kuala Lumpur and subsequent tour of Asean countries and Burma are viewed here as marking the start of a new era in Japan-Asean relations, Michael Coanora reports from Tokyo. The Asean Invitation to Mr.812 words
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Article104 1977-08-01 1 AFP TOKYO, Sun. Japanese business leaders hope to establish a Japan-Asean economic committee to strengthen bilateral cooperation, It was reported today. According to the dally, Nlhon Kelzal Shim bun this U>e Federation of Economic Organisations (Keidaren), Japan's most influential private business group, and Mr. ShigeoAFP - 104 words
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Article183 1977-08-01 1 AFP KUALA LUMPUR, Sun. Japanese Embassy officials here today insisted that Prime Minister Fukuda would only make a general commitment to help finance Asean Industrie projects without going into details. They were commenting on a Tokyo report which said that Mr. Fukuda would extend US$lAFP - 183 words
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239 1977-08-01 1 NYT TOKYO, Sun. Premier Takeo Fukuda pledged yesterday that the govern, meat would exert all efforts for business recovery by taking stimulative measures. In a policy speech delivered before the Diet, he said the nation's economy was showing a mild recoveryNYT - 239 words
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706 1977-08-01 1 THE PUBLIC Utilities Board will maintain its present electricity and gas tariffs for the time being despite a total 20 per cent Increase In fuel prices since the last tariff Increase. Mr. Llm Kim San, chairman of PUB, said yesterday that this706 words
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Page 1 Advertisements
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Advertisement62 1977-08-01 1 Wyfbong AW MAF A lending hand when Wayfoong Mortgage you need and Finance (Singapore) Limited it ITIOSt Shaw House Ground Floor. 354 Orchard Road. Singapore 9. Tel: *****7. SEE THIS PAGE Loiauro/TV A Radio/ Local Co Nwww/ Bk*rm CroMworda Pi Information PC PI Ovcnou Maifcota P4 Footurw P4 Commoditioo PS62 words
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Advertisement82 1977-08-01 1 SONY VIDEO SYSTEM G h customary vision AICvU9 and foresight Sony pioneered video equipment. Today, Sony is one of the world's foremost manufacturers of integrated video equipment. Research and experiments are continuously carried out to bring you the most advanced and sophisticated video components, —jijwg SONY" DXC-1200P (Colour video camera)82 words
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Advertisement0 1977-08-01 1 _,|.!{<;'!},`"}*~|=@<\$`-_;'%.%0 words
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Advertisement153 1977-08-01 1 Albert Photo XFor the best in photographic <.• ,niBhou rs equipment Hf AD Of net '<>' t'.t» loor ,rd T ..V. rs JAL FLIGHT 712: THE TOKYO EXPRESS V, It M I NEW YORK VANCOUVER 'wsan m FRANCISCO V 1 WANGELES I C 4 .ft I Vat Se S- Jk?153 words
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Article691 1977-08-01 2 THERE la an understandable tendency to judge the success or failure of a venture such as Asean by the economic development that takes place under Its aegis. Factories being built and trade statistics growing are tangible and measurable results that can be used as yardsticks to applaud or691 words
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REVIEWS
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Article, Illustration811 1977-08-01 2 PETER HULM - By PETER HULM Reuter EUROPE'S most spectacular wine festival returned here at the weekend after 22 years with the help of a computer, a poet, a composer and 20 million Swiss francs (about Ss2l million). For the past eight months people In this smallReuter - 811 words
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Article, Illustration773 1977-08-01 2 BERNADINE MORRIS - By BERNADINE MORRIS NYT THE Paris couture Is not for you and me. To begin with, the clothes are too expensive. Typically, they'll run around US$3,OOO (557,200) or US$4,OOO (550.600) for a relatively simple style. More elaborate ones canNYT - 773 words
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Article634 1977-08-01 2 By CKT WHILE In his teens, Benjamin Britten bought himself a disused windmill near the sea to play first mate atop the mlzzen mast. Years later, in between searching the seas as first mate, he wrote his first opera Peter Grimes In that windmill. EnglishBy CKT - 634 words
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Article, Illustration2018 1977-08-01 3 GEORGE MAGNUS - By GEORGE MAGNUS Mr. Mifiui U chief executive of Haw Par Brother* International. I HATE getting up early In the morning, whether it is In Hongkong, Kuala Lumpur or Singapore: but, on six days a week I force myself to be up early enough to give myself2,018 words
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888 1977-08-01 3 RICHARD LINGEMAN - BOOKS BY RICHARD LINGEMAN NYT Vivien Leigh. A biography. By Anne Edward*. Illustrated. 319 pages. Simon and Schuster. L 319.95. ANNE Edwards, author of six novels, and now at work on the sequel to "Gone With The Wind," added a touch of classNYT - 888 words
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Article704 1977-08-01 3 LEE WEISSMAN - By LEE WEISSMAN NYT The Arms Bazaar. From Lebanon To Lockheed By Anthony Sampson. 352 page*. Viking. U5512.96. ANTHONY S&mpgon continues to bring us the bad news. The author of the exemplary fcnatomy of Britain has In recent years addressed himself to huggermugger among the multinationalNYT - 704 words
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Page 2 Advertisements
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Advertisement21 1977-08-01 2 BANKOF AMERICA BOAT QUAY AGENCY With effect from Ist August 1977 our telephone number will be changed from ***** to pirn*]21 words
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Page 2 Miscellaneous
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Miscellaneous1079 1977-08-01 2 TWO-IN-ONE CROSSWORD id > T >ZMk< CRYPTIC PUZZLE ACROSS 9 Danger averted by a shout In your ear? (5, 4) 10 Not enough to Implement the new title (3, 8) 12 She's a backer, too (4) 13 Manage somehow to land the fellow on the outskirts (6) 14 Trace the1,079 words
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Page 3 Advertisements
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Advertisement234 1977-08-01 3 This announcement appears as a matter of record only LEMBAGA LETRIK NEGARA TANAH MELAYU NATIONAL ELECTRICITY BOARD OF THE STATES OF MALAYA 25,000,000 Ringgit Malaysia Medium Term Facility Managed by Amanah-Chase Merchant Bank Berhad Provided by Amanah-Chase Merchant Bank Berhad Arab-Malaysian Development Bank Berhad D C Nomura Merchant Bankers Berhad234 words
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Article, Illustration1138 1977-08-01 4 THOMAS MULLANEY - By THOMAS MULLANEY NYT SOME followers of business developments were Inclined to dismiss the latest confrontation between the American steel Industry and the Administration over a new price increase as merely another of their periodic wrangles that, in the end will amount to littleNYT - 1,138 words
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Article, Illustration965 1977-08-01 4 MARIANNA OHE - By MARIANNA OHE UPI A JAPANESE cowboy complete with embroidered boots and string tie believes there is an easy solution to Japan's high beef prices import more US cattle. Fred Nakajima, who owns two small cattle ranches in northern Japan, rebutsUPI - 965 words
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2569 1977-08-01 4 SEYMOUR HERSH; JEFF GERTH - This is the fifth of a series of articles based on four months of research into .GULF AND WESTERN INDOSTRIES, the worldwide conglomerate. It was reported and written by SEYMOUR HERSH, a Pulitzer prize-winning investigative reporter, and JEFF GERTH. SEYMOUR HERSH JEFF2,569 words
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Page 4 Advertisements
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Advertisement137 1977-08-01 4 BRITISH MALAYAN TRUSTEES LIMITED ANNOUNCEMENT We are pleased to announce that Mr GILBERT RICHARD HOLIDAY has been appointed to the Board of Directors of BRITISH MALAYAN TRUSTEES LIMITED with effect from 15th July 1977. TAN HOON SIANQ CHAIRMAN Dated: Ist August 1977 INDIAN BANK CHANCE OF TELEPHONE NBM»MS EFFECTIVE FROM137 words
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Page 4 Miscellaneous
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Miscellaneous52 1977-08-01 4 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on July 31 at Singapore airport. Maximum Temperature 31.1° C Associated Humidity 70 Minimum Temperature 24.5° C Associated Humidity 97 Hours of Sunshine 10.20 Rainfall in Millimetres Nil Total Rainfall for the Month 118.8 Total Rainy Days for the52 words
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569 1977-08-01 5 Washington Star WASHINGTON, Bun. The Federal Reserve Is moving very gradually to the growth of the money supply, with the objective of curbing inflation, chairman Arthur Burns told Congress on Friday. Presenting his regular quarterly report on monetary policy, Dr. Bums testified beforeWashington Star - 569 words
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466 1977-08-01 5 NYT BONN, Sun. The tide of unemployment In West Germany surged close to the million mark again last week, increasing pressure on Chancellor Helmut Schmidt's government to stimulate the economy and undertake make-work programmes. The scarcity of Jobs, especially for young people looking forNYT - 466 words
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Article72 1977-08-01 5 AFP NEW DELHI, Sun. Indian Prime Minister MorarJ1 Desai called on India's constituent states yesterday to take prompt action against hoarders and profiteers to bring down the prices of essential commodities. Voicing concern about rising prices, he said the ultimate solution for this could only be lowering theAFP - 72 words
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145 1977-08-01 5 AFP LISBON, Sun. An International Monetary Fund (IMF) delegation has drawn up a gloomy report on Portugal's financial and economic situation, according to press reports here this weekend. The delegation, which visited here from July 19 to 22, also listed the measures deemed necessaryAFP - 145 words
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Article751 1977-08-01 5 NYT NEW YORK, Sun. During last week's acrimonious exchange between President Carter and Mr. Vernon Jordan Jr., executive director of the National Urban League, over the Administration's record vis-a-vis Jobs and aid for blacks and other minorities, the two could agree on at least oneNYT - 751 words
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237 1977-08-01 5 AP WASHINGTON, Sun. "While current conditions appear more favourable than lass year, questions still remain concerning the staying power of the (Japanese) economy to maintain a pace equal to an annual rate of 10 per cent in real growth," according to a USAP - 237 words
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INTERNATIONAL COMPANY NEWS
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587 1977-08-01 5 NYT NEW YORK, Bun. Paradoxically, as the stock market has tumbled this year, corporate profits hare climbed, In an inverse relationship that has market analysts tearing their hair. The perverse trend was highlighted last week when the Dow Jones Industrial average took aNYT - 587 words
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231 1977-08-01 5 Reuter TOKYO, Sun. Komatsu said Its after-tax profit In the current year ending Dec 31 will fall 10.5 per cent to 10.5 billion yen from 18.42 billion In the preceding year, but sales will increase 16.5 per cent to 350 billion from 315.37 billion. Komatsu saidReuter - 231 words
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Article76 1977-08-01 5 Reuter LOS ANQELEB, Sun. Union Oil of California said It Is withdrawing from participation in the proposed Louisiana offshore oil port project. The company cited uncertainties of government regulations regarding control, operations and liabilities of the facility. Union said it has a 12 per cent Interest inReuter - 76 words
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179 1977-08-01 5 Reuter BRISBANE, Sun. Thless Holdings said It negotiated with Japanese steel mills a US$2.2B a tonne price rise for coking coal from Its South Blackwater mine, Queensland, effective April A subsequent 60 US cents a tonne rise effective July 1 with normal (unstated) escalationReuter - 179 words
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117 1977-08-01 5 Reuter OAK BROOK, ILLINOIS, Sun.— Five owners of Individual McDonald's Restaurants sued the gaint hamburger chain for alleged price fixing and restraint of competition. The owners, In a suit filed In U8 district court in Phoenix, Arizona, accused McDonald's of preventing individual franchise owners fromReuter - 117 words
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Article76 1977-08-01 5 Reuter AMSTERDAM, Sun. The bankruptcy of two Amsterdam diamond trading »»»d polishing companies ia expected to result in a loss of about eight million guilders for Amsterdam-Rotterdam Bank, a bank spokesman said. Hie Amsterdam District Court earlier last week declared Amstone and Christian Lewis en ZoonReuter - 76 words
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Article129 1977-08-01 5 Reuter MANILA, Sun. The Amoco-led consortium has decided to stop drilling on Its South China Sea Reed Bank site apparently after making no significant oil finds, the Energy Development Board said. Drilling In the area, not far from the dispute Bpartly Islands area but within anReuter - 129 words
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Article32 1977-08-01 5 Reuter FRANKFURT, Bun. The 200 million mark 6 3/4 per cent seven year Eurobond for the Kingdom of Spain was priced at 100 1/4 per cent, lead manager Dresdner Bank said.Reuter - 32 words
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Article188 1977-08-01 5 Reuter SYDNEY, Sun. Citicorp unit Neasus Investment said It will proceed compulsory acquisition of any outstanding lAC (Holdings) shares and has asked the stock exchanges to delist them immediately. Nessus said It has received acceptances for more than 90 per cent of the ordinary and preferenceReuter - 188 words
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Article146 1977-08-01 5 Reuter SYDNEY Sun. R W Miller (Holdings) said it agreed to enter a Joint venture with Houston Oil and Minerals Corp to explore the Oaky Creek Coking coal deposit In Central Queensland. Houston's stake Is 80 per cent and Miller's is 20 per cent. MillerReuter - 146 words
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Briefly
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Article76 1977-08-01 5 Reuter LONDON, Sun. The Bank of England announced an £800 million issue of 9* per cent Exchequer stock 1981 at a price of £97.50, payable In full on application. The bank said application lists will open Aug 4 and close the same day. Redemption date ofReuter - 76 words
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Article63 1977-08-01 5 Reuter TOKYO, Sun. Brazil's state Iron ore company, Cla Vale do Rio Doce (CVRD), plans to make a private placement of about 10 billion yen In August or early September, the Industrial Bank of Japan said. The bank, which Is arranging the issue, said the bonds will beReuter - 63 words
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Article79 1977-08-01 5 Reuter LUXEMBOURG, Bun. The European Investment Bank 500 million franc 8 1/4 per cent 10 year bond Issue has been closed more than a week earlier than expected, lead manager Kredletbank Luxembourgeolse said. The bonds were priced at 99 per cent and are now trading atReuter - 79 words
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Article63 1977-08-01 5 Reuter TOKYO, Sun. Sanyo Electric said It has dropped its plan to float a US$5O million convertible bond In the US, and will Instead issue a 15 billion yen 10-year convertible bond In Japan In September. The company declined to give reasons for the decision, but securities marketReuter - 63 words
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Article49 1977-08-01 5 Reuter MELBOURNE, Sun. Mary Kathleen Uranium reported It produced 100.1 tonnes of uranium oxide In the quarter ended June 30 compared with 81.9 tonnes in the March quarter and 103.9 tonnes In the June 1976 quarter. Mary Kathleen operates Australia's only uranium mine in north-west Queensland. Reuter.Reuter - 49 words
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Article52 1977-08-01 5 Reuter TOKYO, Sun. The Tokyo Stock Exchange said It raised the margin trading requirement for Rasa Industries and Nippon Yak In Kogyo to 60 per cent Including 20 per cent In cash from 30 per cent without cash requirement effective Immediately, to prevent excessive speculative trading In the twoReuter - 52 words
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Page 5 Advertisements
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Advertisement24 1977-08-01 5 IBS INTERNATIONAL BANK OF SINGAPORE LIMITED Bth Floor. Wisma Hayam Wuruk. Jalan Hayam Wuruk 8. Jakarta Indonesia Telephone: 358-309 Jakarta Representative: John C.O. Chan24 words
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757 1977-08-01 6 THE LAST couple of years have seen a significant Improvement In the annual reports published here as more locally listed companies become aware of the potentials of these publications as valuable promotional tools. As Investors become more sophisticated In choosing the shares of companies757 words
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Article68 1977-08-01 6 June 1977 FFB Oil Kernel Tons Tons Tons Austral Enterprise 804.00 152.00 Ayer Molek Rubber 90.45 Benta Plantations 4,882.00 978.00 195.00 Buklt Katll Rubber 598.18 Castlefleld 217.75 43.55 Consolidated Plantations 33,370.00 8,878.00 1,335.00 Golden Hope 2,831.81 514.19 Inch Kenneth Kajang 23.53 5.37 Kempas(M) 8,230.00 1,248.00 249.00 Kuala68 words
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106 1977-08-01 6 Reuter LONDON, Sun. Saint Piran said it and its associated companies have purchased 502,477 shares in Faber Merlin Bhd. Bank of England consent for the purchase has been obtained. The audited accounts of Faber as at March 31 show the net asset valueReuter - 106 words
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Article71 1977-08-01 6 June 1977 Kilograms Austral Enterprises Ayer Molek Rubber Benta Plantations Buklt Katll Rubber Castlefleld 224 077 Consolidated Plantations Glengowrle 48 988 Golden Hope 988 302 Holyrood 81 847 Hongkong (Selangor) Inch Kenneth Kajang 88,039 Kempas (M) 523 000 Kllllnghall (Rubber) 23,133 Klnta Kellas Rubber 237,231 Kuala Selangor 7471 words
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Article13 1977-08-01 6 COPRA COCOA OUTPUT Copra Cocoa Tons Tons Golden Hope 480.00 197.32 Pat&ling 2.2413 words
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Article50 1977-08-01 6 ALBRIGHT WILSON ALBRIGHT AND WILSON has appointed UICMarchon, its Joint-venture company, with United Industrial Corporation Singapore, as the sole representative of its detergents sector which produces a range of surface-active agents and of its phosphate sector in respect of sodium trlpolyphosphate in Singapore, Malaysia and Indonesia with effect from today.50 words
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Article193 1977-08-01 6 Current Ex Date Total for Total for payment Date payable the year previous year Khong Guan Holdings 10% July 11 Aug 1 10% 10% Lower Perak 15% July 1 Aug 5 30% 30% Oriental Holdings 9% July 26 Aug 10 15% 15% B. Sembtwuf 20% July 28 Aug193 words
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Article32 1977-08-01 6 OLYMPIA PLYWOOD and timber products has made pre-tax profits of 1350,044 for the six months ended April 30, 1977 compared with $153,035. Sales came to $5,222,151 against $3,847,551 last time.32 words
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COMPANY MEETINGS
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Article23 1977-08-01 6 THE following company meetings are due: Aug 1, 9 a.m., Registered Office, No 45 Spottlswoode Park Road, Singapore 2.23 words
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Article24 1977-08-01 6 Aug 4, 11 a.m., at the Office of John Buttery It Co., Sand Hands House, 100C Paslr Panjang Road, Singapore.24 words
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Article2441 1977-08-01 6 1977 Hl«k Law Last Sale Qr'« 4* Dfr* C'TT Qr's C Nat P/K V«l (•••9) We Higfc ak Law SECTION ONE INDUSTRIALS 154 904 M 230 101 198* 169 223 396 171 136 172 58 212 57 156 152 182 350 145 Acma Alcorn Allied2,441 words
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Page 6 Advertisements
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Advertisement176 1977-08-01 6 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who176 words
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INTERNATIONAL STOCK MARKETS
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Article477 1977-08-01 7 TOKYO: Shan prices rose in fairly active trading on Saturday, supported by active buying of export-orientated shares by major investment trusts, dealers The Dow Jonee average gained 28.57 to 4,933.71 with volume ISO minion shares. The new index closed at 371.31, up 1.34. Electricals, automobiles and precision Instruments firmed,477 words
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Article334 1977-08-01 7 AMSTERDAM: The market was narrowly mixed In quiet trading on Friday. Among Dutch Internationals Hoof ovens rose 0.30 guilders and Akso 0.10 while Umllnrw and Royal Dutch both fell 0.10. Shippings advanced but KLM fell two guilders. On Thursday KLM reported first quarter earnings of US$4O.l million up from334 words
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Article143 1977-08-01 7 BRUSSELS: The market was mixed to higher in pre-qulet weekend trading on Friday. Local Issues to rise Included Vieille Montague and Sohray. UCB, Teooendorlo and St Reek fell. German stocks were mostly lower, other European Issues little changed. U8 were mixed, and gold mines eased. All three PetroAnes firmed.143 words
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Article314 1977-08-01 7 FRANKFURT: Shares TOM In active trading on Friday following the higher and the alight Wall Street recovery, complemented by technical end month buying, dealers said. Gains were led by stores and utilities, with Vew rising six marks, Karstadt .four and Kauftof three. In autos and electrical* BMW roae 3.80,314 words
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Article320 1977-08-01 7 PARIS: The market was steady to firm on Friday following the Wall Street recovery, dealers said. Metals were the only sector to show a clear fall, with Cneeil Leire dipping Just over one per cent and Ututor by Just under seven per cent. Among foretgns, Americans and International oils320 words
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Article163 1977-08-01 7 MILAN: The market closed mixed with a lower Mas after a quiet morning on Friday, dealers said. Both PWrim EC, gala Vlicosa and Meatedlsoa lost ground while Pirelli Spa and Ante gained marginally. Pnldal shares were suspended for an indefinite period as the foods company faces closure. If! pstvttsfri163 words
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Article344 1977-08-01 7 JOHANNESBURG: Gold shares cloaed weaker on overseas and local selling pressure despite slightly higher bullion Indications on Friday, dealers said. Financial minii.g» vere quiet and generally unchanged, although easier In places. De Beers lost four to 464 cents. toxicants'* e ler nd loct up Industrials were narrowly mixed In344 words
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Article259 1977-08-01 7 ZURICH: Stock market generally closed steady In moderately active dealings on Friday In front of the prolonged weekend, dealers said. (The market will be closed on Monday, Aug 1 for the National Day holiday). Major banks were slightly higher, led by KradlUnaUlt and Ilsekg—llwhilt, after reporting second quarter balance259 words
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Article294 1977-08-01 7 TORONTO: The market recovered to cloee steady to mixed In moderate trading on Friday. The composite index, off 4Vt points at mid-day, was down 0.1 but advances led declines 206 to 174. Pacific PitmlsiisM gained 7/B to 31* after reporting higher first half net. Amonc others reporting earnings Haas—294 words
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Article1268 1977-08-01 7 NEW YORK: Stock prices finished mixed again on Friday, as Investors found some bargains among blue chips In the final hour. Overall, however, prices continued broadly lower with nothing In the news to cheer Investors. Shortly after the opening bell, Federal Reserve Board chalrmsm Mr. Arthur Burns announced1,268 words
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Article61 1977-08-01 7 FINANCIAL TIMES INDUSTRIALS Friday 440.2 Thursday 440.2 Week Ago 431.5 DOW JONES AVERAGE INDUSTRIALS Friday 880.07 Thursday 883.71 Week Afo 823.42 LONDON DOLLAR PREMIUM Friday 114* to 115* Thursday 113* to 113* H.K. HANG SENG Friday 417.85 Thursday 414.85 Week A«o 418.30 SYDNEY INDUSTRIALS Friday 305.58 Thursday 304.47 Week61 words
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Article1260 1977-08-01 7 On July 29 TRADING on the Chicago Board Options Exchange came to 82,266 contracts on Friday compared with 104,609 contracts on Thursday. OPTION OCT JAN APL STOCK Alcoa SO s 31/1 UNTRD 911/3 Alcoa 00 9/16 3/4 11/8 911/1 Am Tel w 3 1/8 31/1 37/8 817/81,260 words
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Article364 1977-08-01 7 UPI THE NEW YORK Stock market suffered Its worst loss in 19 months in reaction to disappointing earnings and government reports that pointed to a slowdown In the economy last week. The Dow Jones Industrial average, a 20-point winner In the six sessions prior to last Monday.UPI - 364 words
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Article360 1977-08-01 7 Reuter THE ANNUAL profit figures of BHP, are more than a week old and their effect on the Sydney 4tock market trading has been of continuing Interest. Shares slid to a new twoyear low last week In the wake of the results on turnover runningReuter - 360 words
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Page 7 Advertisements
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Advertisement433 1977-08-01 7 BUSINESS TIMES Airline Directory AtraHot Soviet Airlines 110-112 Shaw Cmtrt, Orchard Rood, <T«I: 377.111) Air Ceylon 302-B, 3rd Floor, Mori no Howm SKonton Way, Singapore (1) (T«l: *****44) Air France Ground. Floor, ICS Buildino, Shonton Woy Singapore 1 (T«l: *****11) lidi Floor, UIC Building, Shonton Woy, Singapore 1 (Tal: 2205.277)433 words
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COMMODITY REPORTS AND PRICES
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Article189 1977-08-01 8 LONDON, Sun. Terminal on Friday closed quiet on end-month considerations, with prices mostly 0.50 pence to o.lopence up from Thursday's close. Volume totalled 143 lots at 15 tonnes including the posting of three further options during the afternoon. CIFs closed quietly steady with spot 0.75 pence up.189 words
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Article120 1977-08-01 8 THE Straits tin price In Penang on Saturday was down $12 to $1,004 on an official offering up 87 tonnes to 282 tonnes. In LONDON on Friday, standard tin ended the day £90 up for Cash and £85 higher for Three Months. High grade was £95 and £83120 words
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Article269 1977-08-01 8 CHINESE PRODUCE EXCHANGE, BINGAPOEE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk 189 seller*, old drum $90 sellers new drum $99 Copra: Mixed (loose) UK/Cont $49 Pepper; Muntok AST A white t .o.b. 100* NLW $400 aellera, Sarawak white f.o.b. 90% NLW $380 sellers, Sarawak special black269 words
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Article84 1977-08-01 8 C.I.F. Rotterdam prices quoted In London on Friday In U8 dollar* per ton Friday Prwr. Malaysia 5H ffa bulk Sept Sumatra 5* July Aug SfP Oct No* 530 sir uncb unci) 537* sir/532 Spd 510 sir 500 air 520 sir 510 pd 555 N 530/ 532 pd 51084 words
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Article56 1977-08-01 8 LONDON, Sun. Lead closed £6.75 higher for Cash and £5.25 up for Three Months on Friday. This market maintained the morning's advance, aided by some tightening of the nearby supply situation as Indicated by a narrowing contango. Business In Three Months was confined to £328 and most of the56 words
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Article496 1977-08-01 8 PRICES in the Singapore market opened at 8911,417 on Saturday and closed at 8511,307 in dull trading. The London market opened at U*****.40/75 and cfose<Lat U*****.30/50. Source: Slogans Retail prices per tael quoted by the Singapore Chinese Gold and Silver Merchants Association are 9445 for 90 per cent gold,496 words
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Article212 1977-08-01 8 LONDON, Sun. Spot silver on Friday closed weaker at 259.80/280.80 Psnce per ounce against hursday's late 262.50/263.50 but was above Friday's 260.20 fixing In lacklustre trading. Volume was moderate and trading Interest small. Three months finished at 264.50/265.50 compared with 267.50/268.50 and 264.90. In NEW YORK on Friday, comex212 words
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Article42 1977-08-01 8 LONDON, Sun. Zinc closed £4.50 up for cash and £3.75 higher for Three Months on Friday. Market sources said dull conditions persisted throughout the ring with Three Months trading only at £321 per tonne. Sales of 975 tonnes were mainly carries.42 words
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Article262 1977-08-01 8 LONDON, Sun. Copper wlrebars on Friday closed £3 down for Gash and £4 down tor Three Months. The market worked lower under liquidation, prompted partly by lack of follow-through to Friday morning's rally. Three Months traded from 721.50 per tonne in the ring down to £718 by the end262 words
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Article246 1977-08-01 8 LONDON, Bun. Futures on Friday closed very steady, £307 to £220 up from Thursday's close. Volume totalled 8,063 lots including 43 options. Sep featured with a gain of £307 at £2,885 after traded within a high-low range of £2,920 to £2,600. Dealers said the strong afternoon rally featured nervous246 words
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Article292 1977-08-01 8 BANGKOK, Sun. The market was very quiet last week, with only one lot traded which was 7,800 tonnes of 35 per cent white rice bought by the United Nations as food aid to Vietnam, for August shipment. Activity was confined to loading against past commitments, mostly to Bangladesh and292 words
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Article120 1977-08-01 8 CHICAGO, Sun. Wheat futures on Friday, closed with fractional gains after trading narrowly to either side of Wednesday's close In light trading. Declines in other Dits brought some early selling Into wheat but prices held above contract lows In mixed trading. A firming In gulf cash bids and spread120 words
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Article210 1977-08-01 8 CHICAGO, Sun. Soybean futures off* Friday closed with sharp losses in nearbys but smaller losses In deferreds. The August, which remained on the downside through the session fell as much as 29 cents, closed at $5.89 a bushel, with a loss of 261t cents. September was down 10* cents210 words
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Article630 1977-08-01 8 IF THE current decline In the coffee bean market persists, the 1,500 odd coffee shop owners In Singapore will soon have to consider revising their prices. In the last four months, the world coffee price had come down a long way from Its peak630 words
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Article345 1977-08-01 8 LONDON, Bun. Terminal cocoa gained further ground on Friday afternoon In response to a limit advance In New York, closing firm and near the day's newly-established highs. Overall gains ranged from £81 (Dec at £2,637) to £130. Trade and outsider support, as well as further short-covering prior to the345 words
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Article345 1977-08-01 8 LONDON, Bun. Bugar futures were steadily held on Friday In quiet late morning trading and closed with gams from Thursday night of £0.80 with August 1978 at £130.90 bid to £1.60. Turnover totalled 1,002 lots Including 135 call options. Terminal sugar hardened In afternoon trading on news that the345 words
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MONEY AND EXCHANGES
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Article226 1977-08-01 8 THE US dollar remained very weak early last week, locally and In overseas markets, owing to speculation of a worsening of US June trade deficit. The US dollar opened the week at a 2.4445-2.4490 level and plunged to 2.*****.4280 In very active, and at times nervous, trading. Heavy commercial226 words
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Article40 1977-08-01 8 ACBC First Chicago «v. «v, Citibank Bangkok Bank T HSRT 6 *■< lixkaaiwrt |l. Bank of China 7 Bank of Tokyo flU MiUiii Bank CV, Bank Negara OCBC «H Indonesia 7 OUB UCB 7 L'MBC 7 DBS (JOB40 words
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Article212 1977-08-01 8 Asian rates RATES took a sharp rise of 1/4 per cent across-the-board In modest trading last week. Three and six months periods saw greater turnover attributed to rollover Interest touching a high of 8 3/8 per cent and 8 5/8 per cent respectively, before shading 1/8 per cent off high.212 words
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Article139 1977-08-01 8 Euro rates LONDON, Sun. The Eurodollar deposit market traded quiet at Friday's close, with rates little changed at the higher levels. Period rates held steady around morning levels although they eased by up to 1/8 point temporarily around mid-session. The One Month rate which opened 5/8 higher on Friday end139 words
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Article67 1977-08-01 8 AIIIDST the turbulent UB9/86 market last week, Interbank on the whole was quiet as most banks had smaller positions to cover for they were long on Singapore dollars. Market was flush with overnight traded at the three per cent level. Terms rates, however steadied, with an easy undertone.67 words
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Article306 1977-08-01 8 IN THE domestic money market, the basically surplus situation of the previous week continued through to last week and although the overnight rate opened on Monday at per cent, midweek It had eased to a little over two per cent. Rates offered by discount houses during the week306 words
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Article356 1977-08-01 8 ZURICH, Sun. Further statements by Treasury Secretary, Mr. Blumenthal that a further fall In the dollar might be necessary and would be welcome resulted In the dollar loosing further ground In the first half of last week. However, the scene changed when on Wednesday, Fed chairman Arthur Burns declared356 words
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Article215 1977-08-01 8 NEW YORK, Sun. The dollars on Friday, closed slightly firmer on balance after losing some earlier gains In very thin closing trading here, amid endmonth book squarliuL A flurry of confusing news after a hectic week left most dealers Inclined to end the week early and trading tapered215 words
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Article293 1977-08-01 8 LONDON. Sun. The dollar hardened to 2.2910/25 marks from its mid-session levels of around 2.2860/75. Trading was relatively thin and the US unit rose after Federal Reserve Board chairman Arthur Burns said the Ml money supply range was cut and called for a strong dollar against foreign currencies. Firmer293 words
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Article32 1977-08-01 8 FRANKFURT exchanges closing quotes on July 29 U8 2.2910/25 Can 2.1420/30 UK 3.976/986 Neth 93.94/98 Swlts 95.20/28 Italy 2.595/2.605 France 46.94/47.02 Japan 0.8580/90 Belg com 6.49/50 Belg fin 6.44/46 Norw 43.28/3432 words
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Article39 1977-08-01 8 FOR the week ended Friday July 29 the range of call rates received from Short Deposits (M) Berhad was as BANK FUND 2* to 5%* GENERAL FUNDS 2% to 5%H Movements of funds totalled $508 million.39 words
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Page 8 Advertisements
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Advertisement313 1977-08-01 8 IN PENGUINS Yukio Mishima firmly upheld the traditions of Japan's imperial past, which he believed were being slowly eroded by Western materialism. Disillusioned he astonished the world* in 1970 by committing hara-kiri or ritual suicide by disembowelment. One of his last works, Runaway Horses, is now published in Penguins. Like313 words
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Article, Illustration1193 1977-08-01 9 PETER KcKAY - LIVERPOOL ace Ktvin Keegan Germany for a staggering £200,000 ($640,000). Duncan MacKenzle has ahreedy become rich at Anderlecht and other European clubs are eyeing English soccer talent. Today the falling pound means Britain's stars are a bargain buy. By PETER KcKAY1,193 words
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Article, Illustration768 1977-08-01 9 SINGAPORE Island Country Club, the defending champions, took a step closer to retaining the Singapore Golf Club Premier League title when they trounced Sembawang Oolf Club by 22 strokes at Sembawang yesterday. SICC have 16 points from nine games five points more768 words
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Article, Illustration641 1977-08-01 9 MONTE CARLO, Sun. Carlos Monzon came off the floor last night after a second-round knockdown by Rodrlgo Valdes to win a unanimous decision and retain the World Middleweight championship he won seven years ago. Monzon immediately announced he was retiring from the ring. The641 words
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Article345 1977-08-01 9 DARMSTADT. Weet Garmany, Sun. A dozen young women boxers who go into the ring topiees are provoking protests by womeu liberation groups wherever they appear in their tour of West Germany. About 100 protesters, most of them women, tried to block the entrances to Beesunger Hall345 words
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Article, Illustration806 1977-08-01 9 UPI HOLLYWOOD, Sun. Traditionally and with rare exceptions, sports movies have been a flop fit the box office, but a major change is Irrthe wind. Over the years most sports and not a few sports heroes have been exploited on celluloid with IndifferentUPI - 806 words
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Page 9 Advertisements
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Advertisement27 1977-08-01 9 For more det.nls ple;ise eor.'.H i MANSFIELD I RAVEL iiH ()t ean Building Shopping >ntre Ir! <mi) 7 ]or '<8 1093 A im-niU-r of the Mr.uts (iruup27 words
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237 1977-08-01 10 UPI WABHINOTON, Sun. America's top 100 defence Industries received US$42 billion (Sf 102 billion) worth of contracts in fiscal year 1976, with McDonnelDouglas replacing Lockheed as the Pentagon r s top contractor, a private research organisation reported over the weekend. The Council on EconomicUPI - 237 words
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199 1977-08-01 10 THE Labour Minister, Mr. Ong Pang Boon, yesterday warned garment manufacturers that they will become uncompetitive unless they take steps to upgrade their products and make higher value-added garments. Mr. Ong, who was speaking at the 10th anniversary dinner of the Singapore Garment199 words
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120 1977-08-01 10 CITICORP Financial Ltd., Citibank's Singapore-based merchant bank, will with immediate effect be called Citicorp International (Singapore) Limited. Announcing the charge, Mr. L.J. Lansdown, the managing director of the merchant bank, said the move was made to Identify CIS with Citibank's world wide group of120 words
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Article256 1977-08-01 10 SENIOR officials, meeting for the third and final day of preparatory discussions ahead of the Asean foreign ministers and heads of government meeting, reached broad agreement yesterday of streamlining the Asean organisational structure. A senior Asean source said that Asean activities will now be controlled256 words
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829 1977-08-01 10 PROPERTY buyers In Singapore are asking for more protection against alleged abuses by certain private housing developers. Although they agree that the Housing Developers Rules of 1976 which came Into force last September have helped to curb excesses by private developers, they say829 words
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Article, Illustration632 1977-08-01 10 Two cities with something in common by Lord Mayor THE City of London Is much like Singapore in Its dependence on "invisibles", like financial and professional services, to balance out deficits in its trade, said the Lord Mayor of London, Commander Sir Robin Olllett. "But this, of course, is purely632 words
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Article484 1977-08-01 10 CONTAINERISATION and Packaging Industries (CPI), a 100 per cent locally owned company, Is doubling Its Investments to 98 million this year. It is spending $1.2 million for the purchase of 14 trucks from Cycle and Carriage and $1.4 million on a 1,500 hp tugboat and484 words
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Article80 1977-08-01 10 Reuter MANILA, Sun. The Asian Development Bank (ADB) said It approved a US$2O.5 million (5»0.4 million) loan to Indonesia for the Lodoyo irrigation project in east Java designed to help 57,000 farming The loan, from the bank's ordinary capital resources, is for 27 years, including aReuter - 80 words
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Article244 1977-08-01 10 SINGAPOREANS will soon be able to Imitate shipping millionaires In a game appropriately named "Tycoon", which will also name spaces on the board after shipping and aviation companies In Singapore. Now being test-mar-keted at Robinson's, C.K. Tang's and Yaohan, this Is the first game to244 words
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Article, Illustration377 1977-08-01 10 BANK of America's reluctance to move into real estate financing in Singapore is due primarily to its concept of a commercial bank's role as a short and medium term financing institution. This was disclosed to Business Times by Mr. Robert Chen377 words
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Article108 1977-08-01 10 SURVEY Research Singapore (SRS) and Survey Research Malaysia (SRM) have linked up with Data Management, a Kuala Lumpur-based research company responsible for the Adex reports an advertising monitoring service established since 1974. The Adex reports provide Information on advertising expenditure on TV, radio, Redlffuslon, cinema and the108 words
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622 1977-08-01 10 Reuter HONOKONQ, Sun. Finance companies will be watching the performance of certificates of deposit (CD) issued two weeks ago by Wardley and May hold discussions with a view to establishing a CD market over the next few months, financial sources said. Money market participantsReuter - 622 words
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Article604 1977-08-01 10 ARRIVALS service Operator Number LOCIl Time i i From CPA CX003 0145 HKG SAS SK097 0040 CPH/THR/ BKK MAS MH682 0810 KCH CPA CX710 1000 HLP GIA OA08O 1030 HLP THAI TG423 1035 BKK 8IA SQ211 1045 HLP OLA GA944 1055 PKU QIA QA908 1100 MES PAL604 words
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Advertisement24 1977-08-01 10 m m >• r -i £m*: I v *■?klSw 4-> > x y~.K I x T1 11THE I rAffULI^ MENSWEAR TAH-OHS STORE OUTFITTERS HOTELS COLD STORAGE24 words
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