The Business Times, 27 August 1977
1977-08-27
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The Business Times
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Title Section10 1977-08-27 1 BUSINESS TIMES M.C.(P) 300/1/77 SATURDAY, AUGUST 27, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article48 1977-08-27 1 AP JAKARTA, Fri. A major earthguake registering 6.4 on the Rlchter scale was recorded here today, the Meteorological Department said. The epicentre of the quake was estimated to be about 325 km south-east of Jakarta In the direction of Sumbawa Island, a spokesman said. APAP - 48 words
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Article61 1977-08-27 1 Reuter MANILA, Frl. The world law conference ended here today with a call for the destruction of all nuclear weapons and the full enforcement of human rights. A conference spokesman said that a total of 47 resolutions were adopted at the closing session of the week-long conferenceReuter - 61 words
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Article65 1977-08-27 1 UPI CARACAS, Frl. The Venezuelan government will seek a compromise agreement with International oil companies on back tax claims of more than US$22O million (***** million) according to a report published today. At the same time, other tax claims for more than $500 million, lodged against 33 USUPI - 65 words
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Article60 1977-08-27 1 UPI RANGOON, Frl. Burma will switch to a satellite communications system within the next few years In place of Its present "unsatisfactory" long distance communication system, the Council of Ministers said today. In presenting a report to the National Congress, the council said steps are now underwayUPI - 60 words
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Article41 1977-08-27 1 Reuter ROME, Frl. The Italian state oil company AGIP, working In consortium with Shell, has struck oil off the coast of Sicily. The oil was of good quality, but the quantity was not yet known, AGIP said. Reuter.Reuter - 41 words
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Article51 1977-08-27 1 UPI MADRID, Frl. New hotel strikes hit Spanish Mediterranean resorts today when hundreds of waiters, room maids and cooks walked off their Jobs in the Tarragona region demanding a 30 per cent pay hike. The most affected resorts were Salou and Cambrlls, the rational news agency ClfraUPI - 51 words
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Article84 1977-08-27 1 UPI NEW YORK, Frl. Depressing news helped drive prices sharply lower In active trading during the first hour today. The market was apparently reacting to a market analysts prediction of a recession as well as the government's report of a large trade deficit for July. The Dow JonesUPI - 84 words
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Chief Price Changes
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Article, Illustration185 1977-08-27 1 BANKING shares hit the spotlight on a generally quiet and steady Stock Exchange of Singapore yesterday. Most of these shares saw good gains leading, to a riae of 11.22 points in the Straits Times Finance index to 453.71. Reflecting the steadier trend, the Business Times index also185 words
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Article106 1977-08-27 1 RittS Most active O.C.B.C. 6.98 Malayan 12.00 P. Bank 3.88 U.O. Bank 3.28 81me Darby S.M IC Banking 3.70 D.B.8. 3.78 Kaoayan S.10 Kara pas 3.40 Conaol Pit 4.40 FoNf Betfuntal 7.20 Tronoh 5.00 S. Dredge 4.93 Aokam 3.90 O. Ceramic* 1.74 .38 +.30 28 +.20 +.14106 words
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Article1225 1977-08-27 1 COLIN CHEE - LIVELIER GOVT BOND MARKET By COLIN CHEE EFFORTS by the Monetary Authority of Singapore (MAS) tb liven up the government bond secondary market in the past three years are paying off handsomely. For the first half of this year secondary market trading in government bonds,1,225 words
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Article, Illustration631 1977-08-27 1 BINOAPORE'B two-way trade with Russia and China Is likely to increase further this year, If the trade figures for the first five months are anything to go by. According to official figures, Singapore's trade with Russia during the first five months of this year631 words
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Article317 1977-08-27 1 AP KUALA LUIfPUR, Fri. Malaysian Trade and Industry Minister Datuk Hannah Abu Samah, said today there was need for Malaysia's manufacturers to explore new markets as protectionism was being used by many of Its traditional export markets to restrict Imports. Malaysia's traditional markets areAP - 317 words
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Article143 1977-08-27 1 TOKYO, Frl. The Defence Agency said today It will seek a 1,807.5 billion yen (8517.4 billion) appropriation In the fiscal 1978 budget to strengthen Japan's dsfence capabilities. Agency officials said most of the sum wlB go towards Imports of US-made antisubmarine patrol aircraft and fighters.143 words
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317 1977-08-27 1 HECTIC trading in some of the heavyweights on the Stock Exchange «f Singapore yesterday lifted the Bueiness Times index 11.88 points to a new high of 427.96. Contributing in no small mansnre tothis big Jump wore Sime Darby and United Overseas Banh317 words
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374 1977-08-27 1 CONTRIBUTIONS to the Central Provident Fund hit the bllllon-dollar mark for the first time last year. In 1976, members' contributions came to $1,008, million, up 13.6 per cent from 1975. CPF attributes this big Jump In contributions to rising membership and Increase In the374 words
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Article177 1977-08-27 1 FINANCE Minister, Mr. Hon Sul Sen, will lead the Singapore delegation to attend the Asean economic ministers' meeting In Thailand early next month. The size and members of the Singapore team, however, have not been finalised yet. The meeting will be held at the177 words
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Page 1 Advertisements
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Advertisement32 1977-08-27 1 r 8 years old at least! Overseas New 1/ Transport A Cs« Croee words PI maeieetiees Local Co. News P4 Featoree International Co. News PS Local Overseas Local Stoeki P« News P32 words
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Advertisement44 1977-08-27 1 11 4W »|1 #1 BLT .iH.i t-1 t I 0 bEGE-NDSc s "V J a a g h <. l. :i V N> t S A V* K N x M «P > Ml S i DISTRIBUTORS TJ -cr 05 PTE LTD EST TORTS PTE LTD44 words
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Advertisement208 1977-08-27 1 THE PERFECT IIVESTMENT v--3008-4 The x 77 y When you hove a car that's already famous for its quolity, dependability, all round durability and with one of the most advanced and comprehensive car safety systems in-the world what else can you do? We did the only thing we could do208 words
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MARKET REVIEWS
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Article925 1977-08-27 2 FOR the first time In several weeks, the top liners began to advance on the Stock Exchange of Singapore this week. A big feature was the sudden shift of buying Interest to the banking Issues at the cloee of the week. Market observers believed that the higher-priced Issues, particularly925 words
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Article542 1977-08-27 2 YIN and finance slocks featured bulllshly on the Kuala Lumpur Stock Exchange this week with some of them making their beat gains In many weeks. Market observers were of the opinion that the better support noted for these stocks was primarily due to syndicates switching their attention into542 words
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Article402 1977-08-27 2 OTHERS Central Sugars and Perak Carbide are no longer traded on a designated status. Production at Electrical and Allied Industries has resumed on a limited scale. The Monetary Authority of Singapore has invited tenders for $500 million worth of government registered bonds comprising a $75 million three-year bond(coupon rate: 4*H402 words
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Article136 1977-08-27 2 UPI LONDON, Fli. British car production at 72,852 units In July was 20 per cent below the level In July, 1978, figures from the Department of Industry showed today. In the first seven months to July, 1977, the number of cars produced fell by 58,874UPI - 136 words
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653 1977-08-27 2 IVAN FALLON - LONDON BY IVAN FALLON IT MAY sound perverse to report as news the fact that the London stock market has lived through another week without breaking through 500, but given the astonishing recent form of shares every day, the move through the magic figure653 words
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Article364 1977-08-27 2 LONRHO'S profits growth has slowed down and the market likes It. The pace of profits growth of the past few years has been such 46 per cent last year that Lonrho's rating has gone down sharply as the credibility gap has widened. This week364 words
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242 1977-08-27 2 AS this is written, the meeting which should officially mark the end of Slater Walker Securities Is about to take place with considerable disquiet still existing among the company's loan stockholders. Shareholders will be asked to approve the change of name, and the disposal242 words
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366 1977-08-27 2 AP BANGKOK. Fri. A Thai paper-product company with slieable American credit and Investment was today declared bankrupt after It failed to meet court guidelines Involving the payment of more than US$3 million (887.35 million) In tax penalties, a court spokesman said. Slam Kraft CompanyAP - 366 words
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Article256 1977-08-27 2 ON the same day that it was announced that Malaysia's tin output for the first half of 1977 had fallen by 1,963 tons, and the tin price in London fell £95 to £6,575 a ton, tin shares were the most sparkling on the entire256 words
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Page 2 Advertisements
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Advertisement124 1977-08-27 2 T^SINC nil SINGAPORE mess HIGHLIGHTS OF OUR AUGUST ISSUE: SINGAPORE J- J ~«T A 977 pwa s3< g COW* PaV»>c* f m*ot .ccr aS5^ •-»> S.r.g«**' cO-mu *icatwm* -.^roo:*> r '9 i> <& ■Hj I :-a- Pt Cv«<-ooo 3 S!t«-> c AT TMt IkcMe^* 1 *S^ss£ cSSSf"—» S TOCK^ tT124 words
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Page 2 Miscellaneous
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Miscellaneous359 1977-08-27 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 pm on Aug 26 at Singapore airport. Maximum Temperature 31.0° C Associated Humidity 7® Minimum Temperature 23.6° C Associated Humidity 100 Hours of Sunshine 9-20 Rainfall in Millimeters nil Total Rainfall for the Month I* s 3 Total Rainy Days359 words
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OVERSEAS
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288 1977-08-27 3 Reuter LONDON, Frl. Foreign exchange dealing rules lm6osed by the Bank of n gland are to be relaxed and dealing limits raised from Sept 1, senior foreign exchange dealers here said. The limits on banks' net spot against forward positions, designed to protectReuter - 288 words
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Article238 1977-08-27 3 Reuter FRANKFURT, Frl. Bundesbank president Otmar Emminger said Germany's net monetary reserves have fallen slightly less than DM6SO million (Ss6B9 million) so far this month. This reflected unwinding of speculative purchases of marks on the foreign exchange market, which helped boost the reserves by aroundReuter - 238 words
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Article71 1977-08-27 3 Reuter WIESBADEN, Frl. The West German July import price Index (base 1970) fell 2 per cent from June to 152.0, taking it to 1.1 per cent below July 1976, the first Sear-on-year drop since November 1975, the federal Statistics Office said. Export prices In JulyReuter - 71 words
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Article467 1977-08-27 3 SLOW GROWTH AHEAD FORECAST Reuter LONDON, Frl. The British National Institute of Economic and Social Research, forecasting slow growth and rising unemployment next year, calls for early reflation of the British economy even If this means breaching agreed monetary targets. The independent institute in itsReuter - 467 words
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565 1977-08-27 3 Reuter NEW YORK, Frl. With the latest money supply report further Indicating moderation from the recent excessive growth, money market analysts are expecting a period of stability In monetary policy. The analysts said today's Federal Reserve report of a US$3OO million (***** million)Reuter - 565 words
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345 1977-08-27 3 UPI DETROIT, Frl. General Motors Corp. chairman Thomas Murphy, whose track record on sales predictions Is pretty good, says the upcoming 1978model year will be the best In history with carmakers selling a record 15.5 million domestic and imported cars and trucks.UPI - 345 words
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155 1977-08-27 3 Reuter HILTON HEAD ISLAND (South Carolina), Frl. The United States will not make the same mistakes In current international trade negotiations as It did In the Kennedy Round, when agriculture was sold short, a US negotiator said here. Vlnce Clephas, special assistant to specialReuter - 155 words
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100 1977-08-27 3 AFP NEW YORK, Frl. American copper production dropped sharply in July because of long strikes that paralysed the industry in connection with renegotiation of collective bargaining agreements. Ore output totalled 53,700 tonnes in July, as against 125,200 tonnes in June. Output of refined copper dippedAFP - 100 words
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Article177 1977-08-27 3 Reuter LONDON, FrL daitry's itodn So «<p«t nwfatWiHiriimOU IV7 at the ead of Jw from 194.1 mi March udiitki hlihNt »iaco DiMibtr 1975, the laduetry Mt hM. Tk« lieraiit reflecta higher Hocks aad lower output. Provisional NtiaatN how stocks hold by maaufacturiag iad as tryReuter - 177 words
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Article97 1977-08-27 3 Reuter LONDON. Fri. Capital factoring, distributive and service industries foil in the second quarter to fill million (814-2 billion), seasonally adjusted, base 1»7», frpm £9M million in the first quarter, according to provisional Industry Department estimates. However, tbo second quarter flgurd is higher the Cta million spentReuter - 97 words
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343 1977-08-27 3 AP NEW YORK, Fri. Developing nations may default on their international debts like falling dominoes, business observers fear, if they take the same path as Turkey and Peru. Both countries are in desperate financial straits. "Peruvian financial officials rushed around the U8AP - 343 words
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Article148 1977-08-27 3 Reuter WASHINGTON, Frl. President Carter announced a review of the Federal government's economic analysis and policy machinery to try to Improve ways in which economic decisions are made and carried out. He said in a memorandum to agencies the review is part of his project to reorganiseReuter - 148 words
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218 1977-08-27 3 Chilean peso devalued 6pc against AP SANTIAGO, Frl. The Chilean peso will be devalued 0 per cent against the US dollar, the Finance Ministry announced yesterday. It Is expected to take effect In the next day or so, as soon as the declaration of Finance Minister Sergio De Castro IsAP - 218 words
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Article, Illustration532 1977-08-27 3 AFP LISBON, Frl. Portuguese Prime Minister Mario Soares announced last night that the escudo would be floated but not devalued, as part of a series of austerity measures aimed at combating the growing deficit in Portugal's balance of payments. The escudo, which wasAFP - 532 words
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Page 3 Advertisements
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Advertisement268 1977-08-27 3 •y/'j i I rJ% i-JU 77 I 3 5* BS v 3" jL if U >, The three bosk needs and the three parts of Britannia) 3 understanding, insight, and wisdom in every field of learning. Written by experts, approved by experts, but not written for experts. It is aimed268 words
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Page 3 Miscellaneous
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Miscellaneous177 1977-08-27 3 crossword: YESTERDAY'S Cryptic Solution Easy Solution ACROSS. 1, Castor. 7, Approval. 8, Snap. 10, Events. 11, Umpire. 14, Tie. 10, Poles. 17, Tess. 19, Sheep. 21, Bared. 22,Pat-er. 23, Pass. 26, Board. 28, Fir. 29, Almond. 30, Putter. 31, Army. 32, Eastward. 33, Sin-bad. DOWN 1, C-overt. 2, Tennis. 3,177 words
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COMPANY NEWS
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648 1977-08-27 4 ALTHOUGH all major shareholders of United Overseas Bank have taken up their rights In last year's one-for-three rights issue, some have reduced their stake In the bank.» Their reduction however Is not startling and the six largest shareholders still control over 40 per648 words
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Article336 1977-08-27 4 Current Ex Date Total for ToUl for payment Onto payable the year previous year George Kent 12% July 21 Aug 26 12% 10% Malaysian Tobacco 15% I July 28 Aug 29 15%I 50% inland A Pen. 8% Aug 11 Aug 30 15% 13% Fan Electric 20% July 26336 words
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Article123 1977-08-27 4 HONGKONG, Frl. Jardine Securities has raised Its dividend payment on the capital Increased by a scrip Issue last year. Further good news ls that the Jardine Matheson subsidiary will make yet another one-for-10 scrip Issue. Its final dividend for the Cr ended June 1977 has n123 words
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Article72 1977-08-27 4 OKAZAKI, Western Japan, Frl. Mitsubishi Motor Corp completed a new car assembly plant here with a monthly capacity of 15,000 units to start operations next week, It said. The modernised plant built at a cost of 17 billion yen Is to produce small car models Including the72 words
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169 1977-08-27 4 DEBPITE lower production and sales, Taiping Consolidated a member of the Slme Darby group has reported an 18.8 per cent increase in unaudited pre-tax profit to $282,000 for the six months ended June 1977. After tax, profit was up 24.2 per cent from $153,000 to169 words
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Article61 1977-08-27 4 TRENOOANU Development which saw heavy turnover on the Kuala Lumpur Stock Exchange earlier this week told the KLSE It does not know why there should be such heavy trading In Its shares. In reply to an Exchange query, Trengzanu added that the only possible matter of Importance pending an61 words
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Article171 1977-08-27 4 F.T. JOHANNESBURG, Frl. In an RlB million deal, the Sedgwick Forbes group Is to reduce substantially Its stake in its quoted South African Insurance broking subsidiary. Price Forbes Sedgwick, whose shares have been suspended In Johannesburg since July 22. The UK parent at present holdsF.T. - 171 words
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Article144 1977-08-27 4 Reuter HONOKONO, Frl. Textile Alliance has cut back Its losses In the year ended March 1977, but It is still unable to pay a dividend. The latest consolidated net deficit Is HK$2B.7 million, but this is a vast improvement on the 170.6 million loss suffered InReuter - 144 words
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Article1512 1977-08-27 4 On Aug 25 TRADING on the Chicago Board Options Exchange came to 81,710 contracts on Thursday compared with 80,604 contracts on Wednesday. Option OCT JAN APL STOCK Alcoa 45 2 6/8 3 7/8 UNTRD 46 7/8 Alcoa 90 9/B 1 7/18 2 9/14 46 7/8 Alcoa 601,512 words
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Article728 1977-08-27 4 AS ANTICIPATED, group profits at Pan Malaysia Cement Works for year ended March, 1977 were marked down following sharply reduced earnings from its major associate cement companies on both sides of the causeway. Reported audited group pre-tax profit for the year under review came to728 words
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Article212 1977-08-27 4 THE International Bank of Singapore Ltd (IBSlhas appointed Mr. Oliver Tu Kok MJmm as acting chief executive. Mr. Tea succeeds Mr. J.G. Craig who has relinquished his position with IBS in order to return to the UK for personal reasons. Mr. Tab has been with the Development Bank of Singapore212 words
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Article78 1977-08-27 4 THE following company meetings are due: Pacific Development Credit Berhad: Aug 26, 10.30 a.m. at 9th Floor, Wlsma Central, Jalan Ampang, Kuala Lumpur. Borhad: Aug 30, 11 a.m. at No. 93-B Jalan Ipoh, Kuala Lumpur. International Wood Products Ltd: Aug 31 at 11.30 a.m. at the Board Room,78 words
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Article53 1977-08-27 4 JULY 1977 Kilograms Austral Enterprises 32,205 Ayer Molek Rubber 46,068 Benta Plantations 259,000 Buklt Katll Rubber 29,483 231,788 Consolidated Plantations 2,482,000 50,803 1,075,568 608,000 86,183 30,391 Hongkong (Selangor) Inch Kenneth Kajang 87,544 592,000 29,030 Kllllnghall (Rubber) Klnta Kellas Rubber 117,209 Kundong Tanjong Pau 522,723 69,854 1,081,376 274.876 250,83953 words
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582 1977-08-27 4 F.T. LONDON, Frl. Proposals on the formation of a State Bank, merging the National Savings Bank and Post Office Giro, are being finalised by two separate high-level committees, and will be presented to the Government In the coming month. It Is understoodF.T. - 582 words
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171 1977-08-27 4 Reuter DETROIT, Frl. General Motors Corp is forecasting that 1978 model car and truck deliveries for the US auto Industry, including Imports, will total 15.5 million units. This compares with 1973's record total of 14.9 million units. Model year 1977 deliveries areReuter - 171 words
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657 1977-08-27 4 NYT NEW YORK, Frl. The most spectacular takeover battle since Northwest Industries abortive attempt to seize B.P. Goodrich ended yesterday with J. Ray McDermott's capture of enough of the shares of Babcock and Wilcox to cause United Technologies to retire from the lists.NYT - 657 words
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Page 4 Advertisements
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Advertisement95 1977-08-27 4 ycu ARE INVITED to the First International Exhibition of Business Equipment Services in Southeast Asia yISWN BUSINESS EXPO September 7,8, 9,10,1977 Hyatt Singapore Hotel Convention Centre A Rewarding Event m m w feifcSNui *V i.-kt r•, v, .m<3 r v rfrVlfV'rt* 'ft mm ¥A»<» V.- ;>?* J v ?plil ~S95 words
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Article106 1977-08-27 5 NORTH AMERICAN COMPANIES Reuter SANTA FE International Corp said It was awarded a contract by BP Alaska Inc for the engineering and project management of new faculties to be installed In Alaska's Prudhoe Bay oil field. The total cost of the pronect Is expectedReuter - 106 words
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Article138 1977-08-27 5 Reuter FRANKFURT, Frl. Hoeschst AG said turnover In July and August did not match up to the average levels of previous months this year. The company yesterday announced a 6.7 per cent drop In first half worldwide profit to 630 million marks. It said In a statementReuter - 138 words
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Bonds
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Article147 1977-08-27 5 Neuter AMSTERDAM, Frl. Austria will Issue a 75 million guilder 7% per cent debenture loan, due 1983/92, at 99 per c«nt Algemene Bank Nederland NV said as Joint consortium leader. Redemption will be in 10 approximately equal annual Instalments beginning Sept 15, 1983. Early total or partialNeuter - 147 words
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Article70 1977-08-27 5 Reuter TORONTO. Frl. Redpath Industries Ctd said It mans to raise US$25 million through a 12-year deben- ture Issue in the Eurodollar market. The company expects a coupon of nine per cent on the debentures but final terms will be set on Sept 8. The underwriting syndicate IsReuter - 70 words
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Article63 1977-08-27 5 Reuter LONDON, Frl. The list of applications for the Issues of £800 million 91/4 per cent Treasury stock 1983 and £600 million three per cent Exchequer &tock 1983 opened and closed yesterday, the Bank of England said. The full amount of the loans offered have beenReuter - 63 words
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53 1977-08-27 5 Reuter FRANKFURT. Frl. The Malaysian government Is, negotiating the raising of a US$lOO million mark eUrhtyear Eurobond, probably at 6% per cent, a spokesman for lead manager Deutsche Bank AG said. Repayment date has been provisionally set for Sept 1 Final conditions will be set onReuter - 53 words
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Article102 1977-08-27 5 AFP PARI*, Frl. The Japanese firm Mitsui Real Estate Development Company is planning to float a convertible loan of USS2O million, the Credit Lyonnals Bank In Parle announced yesteittay. The coupon under consideration is six per cent per annum, with a conversion price to beAFP - 102 words
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Article92 1977-08-27 5 Reuter MONTREAL, Frl. HydroQuebec's 80 million Swiss francs bond Issue may be raised to 100 million francs, Edmond Lemleux, vice- president of finance, said. He expects the Issue to do very well. Mr. Lemleux said the final amount will be decided on today, whenReuter - 92 words
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Article68 1977-08-27 5 Reuter RIO DE JANEIRO, Frl. Brazil's state mining concern Cla Vale Do Rio Doce will launch a 10 billion yen bond Issue on Aug 31 In Tokyo, company sources said. The sources said the loan will be for 10 years with a four-year grace period, andReuter - 68 words
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Article50 1977-08-27 5 Reuter ROME, Frl. Ente Nazlonale Idrocarburi (ENI) said its subsidiary Aglp had begun oil production on two platforms 30 km off the coast of Zaire. ENI said the field, which Is being worked In collaboration with Zaire state companies, should eventually yield two million tonnes of oil a year.Reuter - 50 words
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281 1977-08-27 5 Reuter UNITED TECHNOLOGIES Corp said it Is exercising its right to terminate Its offer to buy Babcock and Wllcoek Co shares. The company said In a statement "pragamtlc assessment of the economic conditions surrounding the most recent J. Ray McDermott offer hasReuter - 281 words
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Article55 1977-08-27 5 Reuter MARATHON OIL CO said it plugged and abandoned the 49/30-1 exploratory well located 129 km south-east of Cork, Ireland In the Celtic Sea as dry hole. The company said the well was drilled to a total depth of 1,088 metres. Marathon said It plans no further exploratoryReuter - 55 words
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Article148 1977-08-27 5 Reuter KENNECOTT COPPER Corp Is cutting back mine and concentrator output In its Nevada division and plans to lay off some workers at Its Utah division, a company spokesman said. The Nevada concentrator will run two shifts a day instead of three and win process 15,000Reuter - 148 words
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Article119 1977-08-27 5 Reuter CONTINTENTAL OIL Co said the U. 8. Court of Appeals in Manhattan reversal of a lower court decision banning the sale of leases off the U.S. Atlantic coast in the Ballmore canyon area Is a step forward but exploration or the area could still beReuter - 119 words
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Article87 1977-08-27 5 Reuter US Industrial companies operated at 80.9 per cent of capacity in July, unchanged from June and 2.5 points above last July's operating rate, McGrawHill Inc said. The company said industrial production is expected to continue to rise modestly In the coming months and should be approachingReuter - 87 words
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Article61 1977-08-27 5 Reuter ST REGIS Paper Co said Southland Paper Mills Inc and Itself have executed an agreement for the acquisition of Southland by St Regis In a merger transaction. In June, the companies announced the proposed transaction under which Southland's shareholders, other than St. Regis, would receiveReuter - 61 words
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753 1977-08-27 5 NYT NEW YORK, Fri. Houses mean different things to different people: A showcase or a sanctuary; a place to hang one's hat; and sometimes, when the boiler goes or the roof needs to be fixed, a real nuisance. Increasingly, though, Americans are beginningNYT - 753 words
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427 1977-08-27 5 FT JOHANNESBURG. Frl. The dlvtralfled engineering group Abercom has shrugged off Its mishandled bid for its rival conglomerate Protea Holdings with Its latest annual report for the period to June I#T7, to which David Lurle, the chairman, charts the way ahead. He discloses thatFT - 427 words
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250 1977-08-27 5 ASIAN COMPANIES Reuter BYDNEY, Frl. Prospective Australian uranium producers will need more detailed government proposals announced yesterday before they can start making production and marketing decisions, Western Mining Corp Ltd (WMC) chairman Arvl Par bo said. Speaking by telephone from Melbourne, Mr. Par boReuter - 250 words
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Article69 1977-08-27 5 Reuter JOHANNESBURG, Fr 1. Elandsrand Gold Mining said the Ventersdorp contract reef has been Intersected by the rock/ventllatlon shaft at depth of 2,044 metres and dipping at 22 degrees. Sampling indicated average values over 15 sections at 10.42 grams gold per tonne, and uranium 0.06 kg/t overReuter - 69 words
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Article71 1977-08-27 5 JOHANNESBURG, Frl. The fire at Kloof Gold Mining Co Ltd Is fully under control and the area affected has been fully sealed off, a spokesman for Gold Fields of South Africa Ltd said. Production returned to 40 per cent yesterday, and will approach 80 per cent of normal output71 words
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66 1977-08-27 5 Reuter TOKYO, Frl. Kawasaki Heavy Industries Ltd said it received a US$lOO million contract to export six large helicopters to Saudi Arabia for fire-fighting and rescue purposes. The contract Included building a heliport and trading Saudi Arabian pilots and maintenance engineers, it said. The KV-1702AReuter - 66 words
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Article28 1977-08-27 5 BRISBANE, Frl. Mount Isa Mines will cut copper price, equivalent wirebar basis c.i.f. main Australian ports, to A 51,040 a tonne from $1,060, with effect from tomorrow.28 words
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Article169 1977-08-27 5 UK COMPANIES Reuter THE UK authorities will not prevent the takeover the Crane Fruehauf Ltd by Fruehauf Corp of the US following a report which found the proposed acquisition would not be against the public Interest, a report by the Monopolies and Mergers Commission said.Reuter - 169 words
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Article59 1977-08-27 5 Reuter POWELL DUFFRYN LTD said its one for five rights Issue of 5.11 million ordinary shares at 135p has been 91.3 per cent accepted. The balance has been sold at a net premium of 39.07p per share over the issue price and this premium will be distributed toReuter - 59 words
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94 1977-08-27 5 Reuter ROLLS-ROYCE Motors Ltd., a wholly owned subsidiary of Rolls Royce Motors Holdings Ltd said it has disposed of its entitlement to 1.53 million ordinary shares of Hawker Slddefey. The entitlement arose as a result of acceptance of the offer by Hawker for L. GardnerReuter - 94 words
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Article49 1977-08-27 5 Reuter LONRHO LTD's 66 per cent owned subsidiary Coronation Syndicate Ltd said It will reduce milling operations at the Inyati Mine in Rhodesia to 13,000 tonnes a month from 27,000. The reduction is necessary because of low copper prices and poor cash flow at the mine. Lonrho said.Reuter - 49 words
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Article78 1977-08-27 5 Reuter LAFARGE ORGANISATION Ltd said discussions are taking place with Lafarge SA which may result in proposals for Lafarge SA to acquire the 45 per cent of Lafarge Organisation's ordinary capital it does not already own. Lafarge Organisation was formed in 1926 to produce and sellReuter - 78 words
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Advertisement1038 1977-08-27 5 China trade... a US$2O billion goldmine Here's how you can tap it In a scries of bold moves, China's new leadership has embarked on an ambitious economic development program aimed at accomplishing the modernization of the country's industry, agriculture, technology and national defence. According to senior officials interviewed in Peking,1,038 words
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Article2343 1977-08-27 6 •«.ru. r" s 2 88 s, SECTION ONE INDUSTRIALS 154 130 Acma 144 -I 12.0N 1.8 8.3 8.7 3 145 144 204 172 Alcorn 172 10.0 0.5 5.8 27.7 116 58 Allied Choc 114 +2 22.8 31 115 111 230 212 Bata 230 18.0 1.9 7.8 10.92,343 words
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Article1428 1977-08-27 6 m I 55? f** 5 otUr Prtow officially UsUd I I ww buctntas In ind noortid to tht I SW^-SfflE 1 I mown tn bracket* tnloteoM 000 unite I I T?' cl, »*d All Tin* 1 I Contract* art quoted later the word "Sett Bte Board I1,428 words
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Article1836 1977-08-27 6 BID and offer price* officially tasted and business in and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in bracket* in lots of 1.000 units unless otherwise specified.. INDUSTRIALS Afcsm (1.908). A. Ch»e (1148 1.138) (2) 1.11. (1) 1.12. (10)1,836 words
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Article65 1977-08-27 6 STRIKING prion ai the .toe* option, officially listed «a the Stock Excdier of Sincapore. tbc period*. bid sad e Henrico* and bu.inoa* don* yntw day, with the number of option* traded •hown in braefcate. DBS (Dec $3.80) (0.20B) (1) 0.20 Inchcape (March $2.40) (0.228). Pan Electric (March $1.90)65 words
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Article139 1977-08-27 6 SINGAPORE UNIT TRUST IMmoi' pvin m far Kmf INCOME BOND UNIT The Commerce The Saving Fund 1.74 1.03 l.M 1.00 lunw p INCOME BOND •toss) 1.07 1.13 8'pore Proe Fund 8'pore Security 0*7 on MARA BUMIPUTRA FUND Fund 8'pore Invert 1 M l.OSxd (.Managers' primm First Bumiputra Aag139 words
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Article158 1977-08-27 6 B O T 8 1/2% 1981 (100,000) (103*B 103*8) (1) 103* B O T 7 5/8% 1984 (100,000) (99*8 99SS) L TC B J IM2 (100,000)(98*B 998) Credit Lyonnaia FVwtii| IMS (100,000) (96M8 98SS) DBS ConvarU C 1/2% IMI (100,000) (988 98VMS) D B S 8 1/2% 1982158 words
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Article89 1977-08-27 6 Bep Spore D Mark 7% 1962 (100,000) (101*B 101*8) Spore 1/2% 1983 (100,000) (1008 100*8) £jU?JL pore 7 5/4% (100,000) (100HB 1018) 5 1/4% 15/7/78 (250,000) (101.458) 4 3/4% 1/5/79 (250.000) (100.SOB 100.908) 5 1/4% 16/10/79 (250.000) (101.958) 3/4% 15/8/80 (250.000) (104.80B) 8 3/4% 1/12/80 (250,000) (104.758) 5%89 words
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Page 6 Advertisements
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Advertisement176 1977-08-27 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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Article, Illustration630 1977-08-27 7 LONG-DORMANT hanking stocks featured bulliahly on generally quiet and irregular Btock Exehaage of Singapore yesterday. This was the first time in more than two months that investors turned their attention to the banking sector. Under the lead of Public Bank, all other banking and finance stocks were630 words
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Article385 1977-08-27 7 A SUSTAINED round of buying In the late afternoon pushed prices of banking shares substantially higher on the Kuala Lumpur Stock Exchange yesterday. The sudden and sharp runup caught a number of traders by surprise as banking stocks had been moving on a quiet and barely steady385 words
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INTERNATIONAL STOCK MARKETS
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Article353 1977-08-27 7 HONOKONO: The market closed firmer in active trading on Friday, with moet shares ending at the day's highs, dealers said. H—glr—g Beak roes 30 cents to 917-90, »iieghseg Lead 10 cents to 90.85, Bwlse Pacific 16 cents to 96.40, and Whsslssk Maidsa five cents to 91.70. Jardiae Mstkosoe gained353 words
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Article424 1977-08-27 7 TOKYO: Bhare prices rote In moderate trading, dealers said on Friday. The Dow Jones Average gained 10.52 to close at 5,190.88, with volume 270 million shares. The New Index was 84.23, up 0.37. Mitsubishi Cement and some other cements rose on expectations of cement price rises, while Mitsubishi Electric424 words
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Article425 1977-08-27 7 SYDNEY; Uraniums fell sharply, possibly due to overnight London selling, the prospect of share Issues to raise development funds and uncertain tiles created by political and union opposition, dealers said on Friday. Paacentinental fell 91.70 to 99.60, Qweewslsad 90 cents to 92.50, wsthlSes In ml ■Hi 19 cents to425 words
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Article139 1977-08-27 7 MANILA: The market closed mixed, with oils gaining while minings and commercials declined, dealers said on Friday. Atlas lost five points while Phile* was down by one. Other mining Issues held steady. PLDT lost one point, while Pkil Overseas led oil Issues with a three-point gain and others advanced139 words
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Article75 1977-08-27 7 m err •i unci) m 715 unch 436 in -S •1 DusitThanl First Trust Indo-Thal Industrial rinance 1H ***** •It J And J Ho Jalapratban m 1H -6 -2 Kamasuta LeeK«tn|Mln Metal Box Rama Towers Safety Insurance Saha Union 41 8 25 1208 1448 225 ■is ♦4 unch unch75 words
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Article297 1977-08-27 7 AMSTERDAM; The market eased In quiet trading on lack of news and Wall Street's weaker tone, dealers said on Thursday. Dutch Internationals declined with the exception of Unilever which roee 0.10 guilders. Elsewhere transports fell, apart from OaMsrsa which rose two guilders. Banks and Insurances were mixed. Trading and297 words
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Article155 1977-08-27 7 BRUBSELB: Decline* predominated among local Issues, depressed by wall Street and economic news from Germany and Japan, dealers said on Thursday Rises included UCB, Traction and St Reck, while falls Included Htktkn, Cockertll, HaiaautSuibra, Acac and Aiiai UK stocks rose, and Oermans were firm, but US, Dutch and Canadian155 words
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Article237 1977-08-27 7 FRANKFURT: Shares closed steady in quiet trading, dealers said on Thursday. Cooti Gummi rose 2.90 marks and Bcfceriac 2.40. Karsudt in stores lost two marks and BWM In autos 1.90. Most other shares were narrowly mixed. Public authority loans were little changed to 0.20 marks lower. Mark foreign loans237 words
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Article164 1977-08-27 7 MILAN; Stocks firmed in moderatly active trading, encouraged by expectations of government measures to stimulate share investment later this months, bourse sources said on Thursday. Fiat and Pirelli SPA led industrials higher. Me Viscess, Meatedlsea and Geasvale li—eMHsre also firmed Elsewhere Anie, Pirelli E C lost ground. Olivetti Ord.164 words
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Article320 1977-08-27 7 PARIS: The market firmed on Thursday, aided by the fall In call money to a 13-month low and persistent disagreement In the union of the left coalition, dealers said. Almoet all sectors gained, with Cie Bancaire strong In banks. Metals were mixed, oils and chemicals steady. Foreign stocks were320 words
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Article274 1977-08-27 7 ZURICH: The market drifted lower in small volume, "dealers said on Thursday. Small losses outnumbered gains In banks, flnanclals and Insurances Bally registered roee on good buying support and In Insurances, Zunck firmed against the overall trend. Leading Industrials closed mainly easier, Including CtoeGeigy bearer and Participation Certificate, Nee274 words
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Article388 1977-08-27 7 JOHANNESBURG: Gold shares were generally firmer inline with the bullion price, but towards the close some prices eased on proflttaklng, dealers said on ThursdayFinancial minings were narrowly mixed. Aagtes gained six cents to 458. Cor Syad shed 20 cents to 60 following copper production cutback atTts Inyatl mine. Other388 words
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Article285 1977-08-27 7 TORONTO: The market closed sharply lower In light trading on Thursday. The composite Index was off almoet seven points and declines outnumbered advances 230 to 131. Transportation, management companies and consumer products saw doubledigit Index losses. Only real estate and media rose. Among companies reporting earnings, Hawker Sfddeley Canada285 words
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Article1224 1977-08-27 7 NEW YORK: BtQck prices sold off sharply along a wide front In moderate trading on Thursday, u pressure continued on the glamour-blue chip sector as well as on other basic Industry stocks. Analysts noted the market, lacking the leadership it needs to move forward, is being dragged down1,224 words
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Article63 1977-08-27 7 FINANCIAL TIMES INDUSTRIALS Thursday 486.1 Wednesday 483.8 Week Ago 487.8 DOW JONES AVERAGE INDUSTRIALS Thursday 854.12 Wednesday 882.87 Week Ago 804.26 LONDON DOLLAR PREMIUM Thursday 85% to 88% Wednesday 86* to 86H H.K. HANG SENG Thursday 421 #5 Wednesday 421.80 Week Ago 420.01 ALL ORDINARIES Thursday 426.23 Wednesday 425.3963 words
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Page 7 Advertisements
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Advertisement446 1977-08-27 7 BUSINESS TIMES Airline Directory Aero Mot Soviet Airlines 110-112 Shaw Centre, Orchard Road, Singapore 9 (Tel: 377.111) Air Ceylon 302-1, 3rd Floor, Marino House Shenton Way, Singapore (1) (Tel: *****88) Ground Floor, ICB Building, Shenton Way Singapore 1 (Tel: *****11) 16th Floor, UIC Building, Shanton Way, Singapore 1 (Tel: 2205.277)446 words
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COMMODITY REPORTS AND PRICES
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Article434 1977-08-27 8 ON the Singapore rubber market yesterday, opening auotatlons were marked own one cent In line with lower London advices but rallied quickly on some speculative support and forward inquiries. Towards the morning close values hardened fractionally on weekend covering. Volume was small. The morning session434 words
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Article343 1977-08-27 8 Prices in cents per kilo yesterday: Noon Close (per kilo) (per kilo) Int 1 R.S-S. prompt f.o.b. Buyers Sellers Buyers Sellers 197.75 198.75N 198.00 199.OON Int. 1 R.S.S. September 199.25 199.75 199.25 199.75 Int. 1 R.S.S. October 202 00 202 50 202 00 202.50 Int. 2 R.S.S. 196.50343 words
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Article108 1977-08-27 8 NOON SSR and SMR prices yesterday RAS September (Current Mth) (F« October rward Mth) Buyer* Seller* Buyer* Seller* (cent* wk|) <e» *1* per kg) SSR 20 (1-ton pallet) 195.00 197.00N 196 00 198 OON SSR 50 (1-ton pallet) 192.50 194.50N 193 50 195.50N MRELB SMR5CV (1-ton pallet)108 words
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Article30 1977-08-27 8 Rubber: August 2C Singapore: September 199.25 cent* (down 0.25 cent) Malaysia: September 201.00 cents (down 0.50 cent) Tin: $1,660 (down $10) Official offering: 136 tonnes (down 64 tonnes)30 words
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Article272 1977-08-27 8 HONO KONO, Frl. The cotton futures market closed generally easier In quiet trading, with October 0.25 US cent higher and other months 0.48 to 0.85 cent lower, dealers said. Cotton futures opened easier but rallied on commission house short covering and straddle transactions, they said. Total turnover fell272 words
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Article497 1977-08-27 8 THE Singapore produce market continued to rule quiet yesterday in the absence of buying Interest from abroad. All attempts to trade with the big traditional markets In the West were stymied by the cheaper offerings held out by origins Including Indonesia and Sarawak. Conditions turned uncertain towards the497 words
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Article340 1977-08-27 8 LONDON, Frl. Coffee opened about steady, £54 to £35 lower with September exceptionally £128 down after trading within a range of £3,100 and £3,020. Only 233 lots were traded. September lost ground on deferred months with the long liquidation begun yesterday continuing, traders said. It currently stands at a340 words
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Article86 1977-08-27 8 C.I.F. Rotterdam. US dollars per ton. LONDON: Thursday Previous Malaysia 5% ffa bulk Nov 438 sir 423 Sir Jan 426 50 pd 426 50 pd Sumatra 5% 562 50 sir 562.50 sir Sept 472.50 slr/470 pd 472.50 Slr/470pd Oct 448 50 pd 455 sir Nov 437.50/442 50 pd86 words
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Article267 1977-08-27 8 LONDON, Frl. Terminal opened £0.55 up from last night (March at £124.95 bid) to £0.10 lower. Turnover at the first call was extremely thin at 232 lots which Included 104 kerbs. Dealers said the quiet conditions reflected weekend factors although, they added, the market was still driving some support267 words
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Article170 1977-08-27 8 LONDON, Frl. Cocoa yesterday eased to the day's lows In late trading to close barely steady and down from Wednesday night by £18.50 (near September at £2,660) to £46 per tonne. (Limit rulings did not apply at this time). Selling was fixed but connected with currency and chart factors,170 words
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Article137 1977-08-27 8 CHICAGO, Frl. Boybean tutures yesterday closed seven to 3% cents a bushel lower due to late selling pressure from various sectors following gains of approximately ten cents net early In the morning. Selling of one million bushels of November beans by a commercial associate house around midday helped trigger137 words
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Article57 1977-08-27 8 CHICAGO, Frl. Wheat futures yesterday fluctuated on both sides of the previous close before finishing mixed. Traders said spillover selling from the soybean complex, scattered profit- taking and local selling flushed wheat prices down rom the highs. Support for the three nearby positions, all of which closed fractionally higher,57 words
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Article179 1977-08-27 8 BANGKOK, Frl. Indicative prices quoted here today were unchanged from Thursday: (US dollar per tonne fob bun Bangkok) White Rice: 100 pet lit class 30«. 100 St 2nd 202, 100 pet 3rd 288 29 pet 238. pet unq. Mm: A-l Super I>3. A-l Spcl ISO, C-l Spcl unq, C-l179 words
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331 1977-08-27 8 DURINO the week ended Aug 25, the Singapore and Malaysian rubber markets appreciated three cents In more active trading than of late before coming off best, with current month One RSS breaching the $2.00 mark last encountered In May this year. The rise was331 words
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Article203 1977-08-27 8 LONDON, Frl. Copper wlrebars closed yesterday £3.50 per tonne higher all round. Cathodes closed £1 higher for cash and £2 up for Three Months with ring sales totalling 200 tonnes. In NEW YORK on Thursday, comex copper prices closed 0.30 cent higher on commission house buying, traders said. One203 words
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Article98 1977-08-27 8 THE Straits tin price In Penang yesterday was down Mslo to $1,660 per plcul on an official offering down 64 tonnes to 136 tonnes. On Thursday, tin closed £128 lower for cash and £123 down for Three Months standard metal. High grade was £125 and £110 per tonne lower98 words
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Article74 1977-08-27 8 LONDON, Frl. Lead yesterday finished the day £1 up for cash and £0.50 higher for Three Months. This market retained a basically steady trend during quiet afternoon dealings with Interest mainly centred on carrying operations. The Contango again showed signs of narrowing In front of a possible sizeable reduction74 words
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Article115 1977-08-27 8 LONDON, Frl. Zinc rose £3 per tonne for cash and £2.50 for Three Months. Trade sources attributed the continued very steady tone to physical Inquiry, mostly from the Continent. The prospects of a further decline In warehouse stocks also aided sentiment, the sources added. Three Months traded from £305115 words
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Article282 1977-08-27 8 ON the Singapore gold market yesterday, the kllobar opened at 8911,443 and closed at 8111,430 In quiet trading. On the London market, the metal opened at U*****.10/30 and closed at U*****.00/20. The London morning fix was U*****.20, unchanged from the previous fix. Source: Singmai Retail prices per tael quoted282 words
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Article243 1977-08-27 8 LONDON, Frl. Silver yesterday closed 0.2 pence down for cash and unchanged for three months. Values generally were steady on small two-way dealings In Three Months position which finally traded at 257 pence per troy ounce. The turnover was 35 lots. Meanwhile, the narrower Contango currently prevailing of around243 words
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MONEY AND EXCHANGES
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Article501 1977-08-27 8 THE Singapore local money market saw a firm tone during trading yesterday. The overnight rates opened higher at three per cent and 2% per cent but eased off after some amounts were transacted at per cent. Rates reached a low of 1 v»per cent. During clearing hours, rates firmed501 words
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Article39 1977-08-27 8 acbc l s*« CH Citibank 6*4 Bangkok Bank 7 HSBC CH SH «H 7 «*4 Bank of Tokyo 6*4 Bank Negara Indoaeaia OCBC I 7 OUB C>4 6V, UOB 7 (H umbc 7 DBS CH UOB39 words
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Article171 1977-08-27 8 Asian rate? ASIAN currency depoalt interbank rates as at close on Aug 28 USDollai p» (Spot) OCm BM 7 days 8 1/18 515/16 1 mth #7/16 6 5/16 2 mths 6 1/4 6 1/B 3 mths .67/16 6 5/16 8 mths 611/16 6 8/16 9 mths 6 3/4 6 5/8171 words
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Article45 1977-08-27 8 RANGE of prices offered by discount houses on Auf 26 Overnight 2* 3% Call deposit 2* 3* CM 3-Month Burin* MUh Treasury bills S 2% 3-Month Bank bills 4* 4* 3-Month CD 4to 4* •-Month CD 4 5/16 413/16 Source: National Discount Co Ltd45 words
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Article162 1977-08-27 8 Euro rates LONDON,' Fri. Eurodollar deposits opened little changed In continuing fairly aulet trading ahead of the UK bank holiday weekend, dealers said. Periods were steady around openings In early trading, with both One and Four Months holding yesterday's technically higher levels with Friday ends of periods still affecting these162 words
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Article37 1977-08-27 8 FRANKFURT exchanges opening quotes on Aug 26: us 2 iiao/so CM Z.I9SS/MlO UK 4 OM/0M Neth M 60/70 Swltl 97 15/25 Italy 2.624/634 France 47 .28/35 Belg (com) 6.50/31 Bel( (fin) 6 40/51 Japan 0 6661/6137 words
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Article187 1977-08-27 8 NEW YORK, Frl. The dollar yesterday closed sharply firmer after a hectic trading session here that followed news the US July trade deficit fell to U552.33 billion from June's record $2.82 billion deficit, dealers said. Many operators were caught short, for the market consensus here was for a187 words
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Article187 1977-08-27 8 LONDON, Fri. Sterling rose to around U551.7424/26 from 1.7412/14 overnight on fairly substantial buying demand, dealers said. Early trading was active and the Bank of England was thought to be intervening to steady the rise. Dealers Indentlfled the demand as widespread from most major centres although they were unable187 words
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Article86 1977-08-27 8 TOKYO, Frl. The US dollar for overnight delivery closed the morning at 267.03 yen, up from a 266.80 opening and 266.45 at yesterday's close, dealers said. The morning trading volume was US$92 million. The dollar for immediate delivery closed the day at 267.00 ven. unchanged from the opening but86 words
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Article155 1977-08-27 8 HONGKONG, Frl. The dollar fluctuated narrowly against the mark In moderate trading, closing at a narrow spread around 2.32 marks from New York's closing midpoint of 2.3202, after a morning high of 2.3230, dealers said. The US unit eased slightly to 267.10/20 yen from New York's 267.24, while sterling155 words
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Article49 1977-08-27 8 ZURICH exchanges closing quotes on Aug 25: US 2.3900-3015 UK 4.1587-1608 Can 2 2223-2226 W Germ 103 14-23 Neth 07 63-73 France 48.70-73 Belg 6.71-V.-72-* Denm 38 76-61 Norw 45 16-1# Swed 54.37-40 Italy 0 2707-06 Austria 14 54-55 Port 6 .15-19 Spain 2.82-v,-63 Arg 0.50-60 Japan 0.69-69-49 words
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Article54 1977-08-27 8 AUSTRALIA/NZ exchanges on Aug 26: Australia: Sterling 0.6396/ 0.6327 U8 dollar 1.1106/ 1 1058 Ninety-day air mall buying rates Sterling 0.6560 U8 dollar 1.1360 Ninety-day forward buying rates Sterling 0.6360 U8 dollar 1.1005 New Zealand: Sterlln* 0 5574/ 0.5554 US dollar 0.9753/ 0 9653 Ninety-day forward rate Sterling 0.570754 words
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Article49 1977-08-27 8 RESULTS of tender held on Aug 20 for 91-day Treasury bills to be Issued from Aug 20 to Sept 2: Offered: 00,000,000 Applied for Allotted *65.700.000 t30.000.000 Accepted BMr »w appro*! mat ety 54*: higher bids In full Average rate of dlacount on allotment 2 050% pa49 words
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Article285 1977-08-27 8 EUROBONDS opening quotes In London on Aug 26: 9cnicku Bid Offisr Austria 8*. 90 1014k 102* Bell Canada 104*. 101* BFCE8*83 102 102V, Brazil 9* 84 99 <4 9944 Can Pacific 9 83 101* 101* Credit National 8 4 86 100* 100* ECSC9 83 103* 104* EEC8V.82 101* 102*285 words
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Page 8 Advertisements
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Advertisement169 1977-08-27 8 r rtr 4 MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE ASM RESEARCH BILLETIN This unique publication offers businessmen each month a comprehensive guide tp the latest developments that hove taken ploce in all important sectors of the economies of countries in East and Southeast Asia. The169 words
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TRANSPORT AND COMMUNICATIONS
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434 1977-08-27 9 Agencies LONDON, Frl. Air traffic control assistants today stepped up a go-slow Into a four-day strike, worsening the chaos which has hit passengers at British airports this month. The 850 assistants began the four-day strike at midnight to press a claim for pay rises whichAgencies - 434 words
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Article328 1977-08-27 9 AP WASHINGTON, Frl.— A Civil Aeronautics Board (CAB) law Judge said yesterday that a California air service company should not be allowed to buy controlling Interest in Hawaii's Aloha Airlines. International Air Service Co. (lASCO) of Napa asked the board for permission to purchase up toAP - 328 words
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Article132 1977-08-27 9 KALMAR LMV, a leading manufacturer of forkllft trucks, has won a huge contract from the Ministry of Public Works and Housing In Saudi Arabia for 70 units of forkllft trucks. Most of these trucks, worth about $13.9 million, have a capacity of 15 tons each.132 words
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Article64 1977-08-27 9 LONDON. Frl. Dockers of the Royal Oroup of Docks and the West India Dock In the Port of London voted at a meeting at midday yesterday to continue their strike, a port source said. The dockers are due to meet again this morning to discuss future action regarding64 words
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Article675 1977-08-27 9 TERESA LIM - By TERESA LIM SHIPOWNERS and shipbuilders may see a prototype of the optimised "Asean ship" soon. Studies on the project, the brainchild of the Applied Research Corporation (ARC), will be completed next month. "The actual specifications of the vessel," said Prof. Jimmy Chen, managing675 words
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Article272 1977-08-27 9 SEA-LAND SERVICE the first to employ the container In deep water trade Is today the largest company In the liner segment of the United States merchant marine. Sea-Land owns Its vessels and rolling stock as opposed to leasing or chartering. In terms of owned vessels, Sea-Land operates a272 words
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Article518 1977-08-27 9 THOMAS LOVE - By THOMAS LOVE Washington Star WASHINGTON: Citing an alarming Increase In airline crashes at airports during thunderstorms, the National Transportation Safety Board has called on the airlines to Improve pilot training In order to reverse the trend. In a letter to the presidents of theWashington Star - 518 words
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Article, Illustration374 1977-08-27 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Barge L 20 (0930 alongside Yue Flower) 29/30 Bunga Tanjong (1500 after Marl Class I on board) 1/2 Howel Lykes (WLBP) (0200) 47 King Tower (0600) 22 Lumut (1700) 21 East Sebarok (0600) 20 United Trader (Tanker JCAW) (0600 subject gas free must374 words
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Article79 1977-08-27 9 CATHAY Pacific Airway*, aside from txMlpg Dubai to Its network of destinations, will also Increase flights to West Asia from three to four weekly. This was announced by Mr. Michael Miles, deputy managing director of the airline. He said that this would also Involve significant changes79 words
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Article192 1977-08-27 9 UNITED States Lines (USL) recently announced that it has made an agreement with Medafrlca Line of Oenoa to handle twentyfoot containers (TEU) from all Asian origins served by USL to Port Harcourt Nigeria. Full containers will be loaded on UBL's weekly express ships at Hongkong, Kobe192 words
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Article55 1977-08-27 9 NEW YORK. Frl. Swissair has announced its intention of buying at least 10 of the new DC-to currently being developed by the McDonnell Douglas Corporation. The plane builder said It was waiting to receive other orders before making a decision on whether to proceed with commercialisation of the55 words
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Article557 1977-08-27 9 ARRIVALS tevioa Operator Nuaka Lm r Tbn J FVMB CAL CPA KAL MAS CPA CAL OIA OIA THAI SIA OIA OIA PAL RBA SIA OIA KLM MAS SIA OIA TMA MAS SIA SIA OIA MAS SIA OIA AI MAS SIA PAA BIA OIA SIA ANZ QAL SIA557 words
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Article227 1977-08-27 9 AP LONDON, Frl. The buildup of tonnage In the Great Lakes together with a good level of new business In that area resulted In a number of bookings Involving grain loaders taken for delivery UK-Continent on the London freight market yesterday. There was also further evidence ofAP - 227 words
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Advertisement461 1977-08-27 9 -X fefALAYSIAN BUSINESS, the monthly business and Economics journal of Malaysia offers you in its AUGUST 1977 issue: TEN YEARS OF ASEAN The Bangkok Declaration of August 8, 1967 brought into being the Association of South-east Asian Nations (ASEAN) For guite a while, the Association did not seem quite sure461 words
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Article, Illustration1514 1977-08-27 10 V.K. CHIN - By V.K. CHIN THE Malaysian Government is already committed to the Introduction of a "no fault" scheme which will make it easier for road accident victims to receive aid. The committee headed by Deputy Law Minister Enclk Rals Yatlm is expected to1,514 words
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Article833 1977-08-27 10 ROBERT MUSEL - By ROBERT MUSEL UPI LONDON: Dr. Magnus Pyke was so surprised when an eminent scientist confided he was "concealing" some of his findings instead of publishing them that it helped Pyke make up his mind to resign his executive posts at the British Association for the AdvancementUPI - 833 words
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Article, Illustration566 1977-08-27 10 PAUL MAJENDIE - SQUATTERS HAPPIER By PAUL MAJENDIE Reuter HONOKONO: Hongkong's squatters in ramshackle huts are happier than the thousands packed into government resettlement estates, according to a controversial television documentary shown here recently. And overcrowding in the estates, It said, can retard the growth of children, whoReuter - 566 words
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Article, Illustration629 1977-08-27 10 MARK MURRAY - By MARK MURRAY NYT SEOUL: In marking th« 32nd anniversary of liberation from Japanese occupation recently, South Korean President Park Chung-hee confidently contrasted his country's rapid economic development with what he termed North Korea's pitiful nearbankrupt reality. The president declared that after decades of ideologicalNYT - 629 words
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Article924 1977-08-27 10 ROBERT HERESHEY JR - DONALD HEALEY MOTOR CO. By ROBERT HERESHEY JR. NYT LONDON: Business opportunity: American partner sought for new venture to manufacture sports cars In U8 experienced (79 years old) British entrepreneur and former racing driver lacks capital but can supply design team, which has recently beenNYT - 924 words
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Advertisement156 1977-08-27 10 HANDBOOK £lg nH 1? Pi 1 Ho^ 5 J* hp P Jt sin* I rjf ?•> U u m by E. Lenox Figgis F.C.A. A practical handbook explaining how hotting takes place on tha world's most popular batting pastimes, including horses, dogs, football pools, sporting events, casino games, such as156 words
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166 1977-08-27 11 AFP TOKYO, Fri. A 17-mem-ber Irish mission will arrive here on Sept 3 for a week's visit to seek wider markets for Irish products to correct the trade imbalance in favour of Japan. The mission will be led by Mr. James Godfrey, Deputy Secretary ofAFP - 166 words
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Article87 1977-08-27 11 UPI NAIROBI, Fri. Uganda has made a take-lt-or-leave-lt offer of compensation to thousands of Asians who were expelled from the country by President Idl Amln in 1972, according to Radio Uganda today. The Aslans'clalm was pressed by the UN High Commissioner for Refugees, Prince Sadrudin AgaUPI - 87 words
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Article430 1977-08-27 11 UPI TOKYO, Frl. A U8 Embassy economist called on Japan on Wednesday to reduce her huge trade and current accounts surpluses, In order to help other countries finance their oil deficits. Jack Button, MinisterCouncillor for Economic Affairs at the U8 Embassy in Tokyo, madeUPI - 430 words
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Article114 1977-08-27 11 Reuter TOKYO, Fri. Japan's preliminary adjusted Industrial production Index fell 1.2 per cent In July after a June rise of 1.6 per cent. The preliminary July producers shipment Index rose 0.4 per cent to a seasonally adjusted 132.6 (base 1970), after a 0.7 per cent rise InReuter - 114 words
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Article194 1977-08-27 11 AFP TOKYO, Fri. The cost of living in Japan in July declined for the second straight month over the previous month, official statistics showed today. The Prime Minister's Office announced that the nation's consumer price index last month registered 118.1 as against 100 for 1975,AFP - 194 words
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Article282 1977-08-27 11 AFP TOKYO, Fri. Leading Japanese companies are making all-out efforts to obtain orders for steel plants worth as much as 150,000 million yen (SSI.2 billion) from South Korea's top steelmaker, Pohang Iron and Steel Co. Mitsui and Co., Japan's top trading house, said today thatAFP - 282 words
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169 1977-08-27 11 UPI PORTLAND (Oregon), Fri. It Is Impossible to pollute the oceans because they are too big, according to a professor at the University of California's Scrlppe Institution of Oceanography. "You can't pollute the ocean," Prof. Wlllard Bascom said before a speech on oceanography atUPI - 169 words
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Article49 1977-08-27 11 Reuter LISBON, Frl. A new foreign investment code aimed at encouraging the Inflow of capital was published in Portugal's official gazette. The code, drawn up by the government earlier this year, provides improved facilities for the repatriation of capital In case of company sales or liquidations. Reuter.Reuter - 49 words
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165 1977-08-27 11 Reuter TOKYO, FM. Japaa's jwswde pxtiji to be anwill stimulate buainasa aad rectify the balance ef payments situation, Fnsassair Planning Agency officials •aid. The measures will include ■lUMti— i expenditure for public works, mare flasacs for boosing, reduction of interest rates, •encouragement ofReuter - 165 words
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Article66 1977-08-27 11 Reuter TOKYO, Frl. Japan's July export of steel products rose 0.5 per cent both from June and from July 1976 to 3.29 million tonnes, the Iron and Bteel Federation said. Of the July total, exports to the U.S. fell 0.1 per cent to 671,000 tonnes fromReuter - 66 words
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248 1977-08-27 11 Reuter KUALA LUMPUR, Fri. Peninsular Malaysian crude palm oil output dropped to 138,328 tonnes In May from 140,376 In April but was above the 94,165 In May 1967, preliminary Statistics Department figures show. Production for the first five months of the yearReuter - 248 words
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Article152 1977-08-27 11 AFP HONGKONG, Frl. Chamber of Commerce director Jimmy McGregor today called for greater efforts by government and the private sector to diversify Industry. He said diversification was becoming Increasingly Important In terms of the development of Hongkong's economy and society. "Hongkong Is no longer the automatic choice, IfAFP - 152 words
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292 1977-08-27 11 AP PORT MORESBY, Frl. Hie eighth annual meeting of the South Pacific Forum, opening here on Monday, Is expected to be dominated by discussions on the law or the Sea, the creation of 320-km economic zones and Increased regional cooperation In fisheries and shipping.AP - 292 words
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168 1977-08-27 11 AFP HONGKONG, Frl. A major land-backed berth project Is to be undertaken at Port Moresby, the Papua New Oulnea Harbour Board announced in an advertisement here today. This called for applications from contractors for registration as prospective tenderers for the Job. The announcement said thatAFP - 168 words
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Article374 1977-08-27 11 Reuter SYDNEY, Prl. Australian trade unions leader Bob Hawke called today for a referendum on the government'i decision to allow resumption of uranium mining after a four-year ban. Kir. Hawke said the referendum would allow a full public debate of the issue which threatens to splitReuter - 374 words
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Article296 1977-08-27 11 Reuter BRISBANE, Frl. The Australian Government will support legal action that might be taken against Japanese refiners who have refused to accept raw sugar deliveries under the terms of an A 11.2 billion (813.2 billion) long-term contract, Deputy Prime Minister Doug Anthony said today. Mr.Reuter - 296 words
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303 1977-08-27 11 Reuter SYDNEY. Frl. The revaluation of the Australian dollar plus yesterday's government statement on foreign borrowing Intentions suggest future devaluations cannot be taken for granted, according to Sydney bankers. The Reserve Bank reported the rate-fixing authorities adjusted the trade weighted basket index to 91.5 (baseReuter - 303 words
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Article212 1977-08-27 11 UPI JAKARTA, Frl. The National Search and Rescue Service ceased Its assistance In east Indonesian ?uake -stricken areas as a lnal count placed the number of dead at 110, the Antara news agency reported today. At the last official count made late Thursday, 110UPI - 212 words
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177 1977-08-27 11 THE manufacturing sector In Singapore offers better pay, Job security and employment prospects for the next 10 years, NTUC E resident, Mr. Phey Yew :ok, said yesterday. Mr. Phey, MP for Boon Teck, added: "As Industrialisation progresses, the employment prospects will be bright for most177 words
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300 1977-08-27 11 OPALS are appreciating in value faster than any other gemstones In the world, according to a leading Australian expert. Over the last six years or so, fine black opals have appreciated some 500 to 000 per cent. And the value of opals Is expected300 words
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Article266 1977-08-27 11 THE Eseo Tiger has entered the contest stakes for the hearts of Singapore motorists. As from today, Esso's 45 service stations are Joining hands with Cathay Pacific Airways in a threemonth promotion campaign tnat promises a bonanza of gifts for motorists using Esso oil. With the266 words
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426 1977-08-27 11 KUALA LUMPUR, Frl. The establishment of a buffer stock to stabilise the international price of rubber will be the main item for discussion at the first meeting of the International Natural Rubber Council, formed by the Association of Natural Rubber Producing426 words
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Article138 1977-08-27 11 AFP KUALA LUMPUR, Fri. The first passengers on the Malayan Railway's express "Mesra" will arrive here from Thailand next Friday. The agreement for the service was reached with Thai Railway Authorities recently, the marketing manager of Maoayan Railway, Enclk Mohammad Taufflck Mohammad All, said today.AFP - 138 words
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Article217 1977-08-27 11 AFP SEOUL, Frl. South Korea's commodity exports In the first seven months of this year totalled U555,504 million (5513.5 billion), up 32 per cent over the same period of last year, according to official reports released today. The biggest export item was textile and fibre products worthAFP - 217 words
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Advertisement238 1977-08-27 11 APPOINTMENTS ADMINISTRATIVE r.TTTTC (Around $1,500/- p.m.) A reasonably large Club roquiros for it* Club administration an Administrative Manager, who will initially ba responsible to the Club Manager, who is an Accountant, and thereafter to the Treasurer of the committee. He will be responsible for all routine accounting, budgatting, preparation and238 words
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727 1977-08-27 12 SOME $250 million worth of Singapore small craft will be Idled within the next few years because of Indonesia's new tug and barge law. Under the new law, all tugs and barges operating In Indonesian waters will ultimately have to fly the Indonesian727 words
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170 1977-08-27 12 Reuter NEW YORK, Frl. The Saudi Arabian Monetary Authority (SAMA) has made its first private placements with a US public utility, obtaining US$75 million (SslB3 million) In triple-A rated Issues of the Dallas Power and Light Co, according to Mideast Markets, a publication ofReuter - 170 words
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Article94 1977-08-27 12 Reuter TOKYO, Frl. Japanese Prime Minister Takeo Fukuda said here today the new undersea cable link between Okinawa, Luzon and Hongkong would serve as a "bridge of voice" to help consolidate Japan's relations with <Jouth-east Asia. He was speaking at an Inauguration ceremony for theReuter - 94 words
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250 1977-08-27 12 THE Freight Committee of the Rubber Industry of Malaysia (FCRIM) ana the Far Eastern Freight Conference (FEFC) yesterday reached accord on the final draft of a separate merchants' agreement for the carriage of Malaysian rubber and latex to Europe. FCRIM and the FEFC will meet250 words
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Article173 1977-08-27 12 PARIS, Frl. The French second-quarter current account balance of payments deficit narrowed to 3.7 billion francs (811.48 billion), seasonally adJusted, from 6.7 billion francs In the first quarter, provisional Finance Ministry figures show. The first quarter deficit has been revised from the 6.9 billion francs originally173 words
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Article111 1977-08-27 12 Reuter HONGKONG, Frl. Hongkong's visible trade deficit fell to HKS27 (Ssl4 million) In July from $256 million in June but compared with a 839 million surplus In July 1976, Provisional Census and Statistics Department figures show. The deficit in the first seven months of 1977 wasReuter - 111 words
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173 1977-08-27 12 SINGAPORE'S book and Rubllshlng trade is ourlshlng, Deputy Prime Minister, Dr. Oon Keng Swee said last night when he opened the oth Festival of Books and Book Fair at Hyatt Hotel. The 10-day fair Is organised by the National Book Development Council of Singapore173 words
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Article86 1977-08-27 12 KUALA LUMPUR, Frl. Sabah signed a M 825 million term loan agreement with a consortium of banks, led by Arab-Malay-sian Development Bank, here today. The five-year loan will be used for water supply projects in the East Malaysian state under the Third Malaysia Plan. Other banks in86 words
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133 1977-08-27 12 INTRACO'B High Court petition to windup Wei Giap C»aitrietloi, originally the principal contractors for the Htuiag and Urban D»v»UiMit Com* paay's Braddell View Eetate, was ywtaday adjourned for ffcrae weeks la allaw the petitioners to leek Into the statements in an affidavit served133 words
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278 1977-08-27 12 FREIGHT market fluctuations, when they are extreme. bring one almost Inevitable result In most cases, either the shipowner or charterer will try to put an end to the charter contract. The legal cases that result can be costly both In terms of time and278 words
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Article187 1977-08-27 12 THE Environment Ministry will raise charges for Industrial water supply from Bept 1. This Is the first Increase In II years. The new charges applicable to water from tne Jurong Industrial Waterworks, will be 16 cents per cubic metre for the first 15,000 cu m.187 words
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Article154 1977-08-27 12 Reuter PARIS, Frl. Malaysia has ordered the construction of five gas tankers from French shipyards at a total cost of 3.4 billion francs (811.7 billion), shipping officials said today. The first tanker Is due for delivery In September 1979, In time for the opening ofReuter - 154 words
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116 1977-08-27 12 UPI SEOUL, Frl. Mr. John Moore Jr., president of the US Export-Import Bank, will visit Bouth Korea between Sept. 14 and 19 to meet Korean economic leaders, officials said today. Banking officials said Mr. Moore will discuss the issues of Export-Import Bank loansUPI - 116 words
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Article131 1977-08-27 12 THE High Court yesterday ordered two former United Front candidates In the last Kneral elections, Hwang in Cheong and Wong Kul Yu, to pay $06,000 each for damages to Mr. Lee Kuan Yew In slander suits brought by the Prime Minister. The damages were assessed and131 words
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Article64 1977-08-27 12 Smith would reject if Reuter SALISBURY. Frl. Rhodeslan Prime Minister lan Smith said today he would reject the latest Anglo-American peace proposals for the territory If they Included his won resignation and the dismantling of Rhodeslan security forces. Both these measures form part of the new Western Package Intended toReuter - 64 words
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Article15 1977-08-27 12 Owimg to a technical fault at Reuters, yesterday's London stock* were not available.15 words
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514 1977-08-27 12 ONE OF the major *tm« of the proposed Singapore Concrete Institute (BCI) is to get the backing of the shipbuilding Industry and government agencies to explore and develop concrete ships for Inland, coastal and lntra-reglonal use. The chairman of the protem committee of the514 words
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Article585 1977-08-27 12 GOLD is losing Its gutter in Singapore, if Che drastic fall in activity In the local market Is any Indication. Trade circles estimate that turnover In the gold market has fallen by around SO per cent in the first tlx months of this year and585 words
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132 1977-08-27 12 THE Singapore Hotels and Restaurants Association Is looking Into the possibility of pooling banquet staff of Its members to avoid overtaxing the staff of any particular hotel. An BHRA source said that currently hotel staff may have to do extra shift work to meet132 words
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Article75 1977-08-27 12 AFP BUDAPEST, Prl. A marked Increase In the number of cars and household appliances has been noted in Hungary since 1970, indicating definite Improvement In the Hungarian standard of living, the Central Statistics Bureau of Budapest reported yesterday. The bureau said the number of cars per 1,000AFP - 75 words
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Article176 1977-08-27 12 SINGAPORE will host the ninth conference of the 'last Asian Insurance Congress (EAIC) next jear. More than 1,000 delegates from member countries and other parts of the worid will attend this conference. Member countries of the EAIC are Hongkong, Indonesia, Japan, Malaysia, Philippines, South Korea,176 words
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Article125 1977-08-27 12 ICI Paints (Singapore) has begun making major shipments of paints manufactured In the Republic to Japan. The company said yesterday thatlCrs decorative paints will be sold for the hrst time In Japan where the average Japanese paints his home sometime between June and December the peak125 words
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132 1977-08-27 12 THE Singapore Livestock Farmers' Association Is planning to send a mission to Taiwan next year to study its livestock farmers' cooperative system. Mr. Lai Fee Kwong, the association's president, said the decision Is, however, tentative and will have to be finalised at Its AQM late132 words
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124 1977-08-27 12 AFP HONGKONG, Frl. A former vice-chancellor of Singapore's Nanyanp University, Dr. Rayson Huang, has been appointed an unofficial member of Hongkong's Legislative Council. Presently Vlce-Chancel-lor of the University of Hongkong, Dr. Huang's appointment was made by the Governor, Sir Murray MacLehoee, In an expansionAFP - 124 words
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Article119 1977-08-27 12 AFP WASHINGTON, Prl. United States oil consumption Is well above last years level, latest Federal Energy Board figures showed here. In the month to mid-Au-gust, consumption averaged 17,900,000 barrels a day or 13.7 per cent up on the same period last year. The average was 6.4AFP - 119 words
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Advertisement243 1977-08-27 12 THE ASIAN WALL STREET JOURNAL. In the fast paced competitive world of business, timely information can often mean the difference between success and failure. That's precisely why thousands of Executives have come to rely on THE ASIAN WALL STREET JOURNAL. These men know and appreciate the concise, comprehensive way the243 words
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