The Business Times, 10 September 1977

Total Pages: 12
1 12 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) 300/1/77 SATURDAY, SEPTEMBER 10, 1977 50 CENTS
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  • NEWS IN BRIEF
    • 49 1 UPI BARI (Italy), Frl. Premier Giullo Andreottl said today inflation has slowed down, currency reserves have increased and the world is regaining confidence in Italy. But he said hard work is still needed and the country cannot afford too many strikes, absenteeism or wasteful expenditure. UPI.
      UPI  -  49 words
    • 37 1 Reuter LONDON, Fri. Commonwealth finance ministers will meet in Barbados on Sept 21 and 22 to prepare for the World Bank and International Monetary Fund (IMF) annual session In Washington later in the month. Reuter.
      Reuter  -  37 words
    • 44 1 LONDON, Frl. The Bank of England today made the anticipated cut In the minimum lending rate to 6V» per cent from seven per cent. The Financial Times 30-share Index, however, lost a little ground as the cut had already been discounted.
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    • 32 1 Reuter ANKARA, Fri. Turkey yesterday announced wide-ranging price increases on basic products as part of an austerity and export-promotion programme designed to overcome the country's crippling foreign trade deficit. Reuter.
      Reuter  -  32 words
    • 69 1 Reuter MADRID, Fri. The Spanish government is expected to publish regulations before the end of the year allowing foreign banks to operate here, banking sources said today. But the sources said it would be some time before the first foreign banks open because the processing of applications could
      Reuter  -  69 words
    • 54 1 AFP TOKYO, Fri. The Japan Communist Party (JCP) ranked the top political fund earner among Japan's 1,955 political groups last year, the Home Affairs Ministry reported today. The ministry said the JCP's revenue totalled 15.91 billion yen (S$ 141.6 million), an increase of 33.1 per cent from
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    • 35 1 FIRE was still raging aboard the 1,587 grt Singa-pore-registered vessel, m.v. Mesongo, late last night. According to the PSA chances of saving the 500 tonnes cargo of rubber and sawn timber appear remote.
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    • 29 1 EAST Asia Insurance Congress members met in Singapore over the past two days to plan its 9th conference scheduled to be held here in October next year.
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    • 56 1 UPI NEW YORK, Fri. Fears that credit tightening is in the wings turned stock prices sharply lower during the first hour of trading today. The Dow Jones industrial average, which plunged 8.23 points yesterday, slid 7.19 points to 860.97. Declines far outnumbered advances, 741 to 185, among the
      UPI  -  56 words
  • Chief Price Changes
    • 175 1 SENTIMENT ruled generally mixed in quiet trading on the Stock Exchange of Singapore yesterday. The absence of fresh speculative dealings was reflected in the volume especially on the settlement board. At the close, the Business Times index dipped 1.35 points to 427.61 and the Straits Times Industrial
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    • 111 1 Rises Most active PanElec 1 94 .21 Olympia 244.000 Mania kab 2.10 .11 M Weaving 200.000 K Sidlm 4.50 .10 Inchcape 102.000 OCBC B^rjuntal 6.75 .10 Haw Par 94.000 7.05 10 Total Turnover: 2.620.000 M Toshiba 2 68 08 ToUl Value: MS4.662.000 M NBT 2 74 08
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  • 961 1  -  GROWTH STOCKS FOR INVESTMENT By QUEK PECK LIM BANK shares can continue to be considered growth stocks for Investment purposes, although this year's first half results from the mator banks Indicate a slowing down in growth for some. The slack, to be fair however,
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  • 709 1 THE cost of living this year may be higher than predicted. This Is because the Consumer Price Index has shown a steady rise since April which has elevated It to heights unheard of at this time of the year. The trend will also be
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  • 341 1 Reuter BLACKPOOL, Frl. Britain's trade unions today urged the government to give top priority to selective Import controls be-; cause of "the outrageous increase In Imports of Far Eastern manufactured goods." A resolution unanimously adopted by the Trades Union Congress here today said this
    Reuter  -  341 words
  • 164 1 Reuter HONGKONG, Frl. Hongkong can look forward to an eight per cent growth rate this year. The Colony's Financial Secretary said here tonight that this Is one per cent higher than the forecast for gross domestic product given by the Secretary, Mr. Philip Haddon-Cave, in
    Reuter  -  164 words
  • 309 1 Reuter MANILA, Fri. The Asian Development Bank will ask donor countries to agree to a large replenishment of its special fund used for cheap loans to the least developed member countries at talks later this month in Kyoto, Japan, hank officials said today.
    Reuter  -  309 words
  • 437 1 MANILA, Frl. The United States today called on Asean to ease trade barriers for US products In return for greater access to the Amerclan market for their goods. US Secretary of State for Economic Affairs Richard Cooper said tonight that In making the appeal
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  • 161 1 UPI TOKYO, Fri. American ambassador to Tokyo, Mike Mansfield, today said the United States and Japan should hold frequent subCabinet level talks to anticipate bilateral trade problems before they become poUtlcal Issues which could ftad to protectionism. The former US Senate majority leader said resource-short Japan
    UPI  -  161 words
  • Page 1 Advertisements
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    • 135 1 8 years old at least! SEE BACK PAGE M i m mTT Trust Sony for your video C& Wlth customar y vision AAww%u9 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
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  • MARKET REVIEWS
    • 272 2 AT the weekend the fund managers of M and G unit trust group which blocked the transfer of domicile to Malaysia of Southern Klnta and Southern Malayan back In the spring were trotting along to The City's Moorgate clutching their proxy votes.
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    • 675 2  -  LONDON Br IVAN FALLON SHARE prices this week came within a single point of a historic feat crossing through the all-time peak of 543.6 and Into unexplored new heights. At the last moment roughly around noon on Thursday the thought of such
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    • 228 2 THE index might still have made it on Thursday if it had not been for Bowater Corporation, the paper giant which abeorbed Mr. Malcolm Horsman's Ralli International in 1973 (an<fr lived to regret it bitterly). The market had been hoping for perhaps £50 million (*****
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    • 187 2 MANY of the London Institutions have been adding heavily to their holdings In Plantation Holdings In the past few weeks and this week director, and owner of a block of four per cent of the shares, Sir Douglas Clague passed through London to have a
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    • 427 2 EASIER conditions Erevalled on the Kuala umpur Stock Exchange 'this week. The exception was Tuesday when moderate buying support made for barely steady conditions. Sellers dominated the rest of the week forcing share prices lower. Their presence was specially felt on Thursday when losses outnumbered gains three to
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    • 658 2 SINGAPORE WITH the exception of a handful of stocks which finished the week higher, trading on the Stock Exchange of Singapore this week showed a complete lack of features. By and large, price movements on most fronts were mere ripples and the general
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    • 391 2 OTHERS San Imperial Corporation chairman, Mr David Ng Pak Shlng, has stated that Pacific Development Credit ought to know that Manhattan Properties was acting as agents for Its former chairman, Mr Choo Kim San, as early as August 1976 and not March
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  • Page 2 Advertisements
    • 1039 2 China trade... a US$2O billion goldmine Here's how you can tap it In a series 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,
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  • Page 2 Miscellaneous
    • 56 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 pm on Sept. 9 at Singapore airport. Maximum Temperature 30.2° C Associated Humidity 68 j Minimum Temperature 22.4° C j Associated Humidity 97 j Hours of Sunshine j Rainfall in Millimeters 3.3 j Total Rainfall for the Month 62.0 Total
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    • 1 2 /C<
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    • 286 2 SINGAPORE 5 1.00 PM Opening announcements followed by Sesame Street* 1.50 Lassie Feature Peace Is Our Profession* 3.20 World Cup Soccer Malaysia Vs Hong Kong (English) 4.50 Sandiwara Tiada Tangis Bagiku (A Malay drama Repeat) 5.40 Sara A Gentleman's Agreement 6.30 News in Brief 6.35 Pink Panther 6.50 Barenboim on
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  • OVERSEAS
    • 906 3 OFNS BRUSSELS, Frl. The prospect of the European Economic Community's further enlargement Is causing grave concern to the West German government which has prepared a confidential report listing numerous disadvantages for Bonn when Greece, Portugal and Spain become EEC members. The report,
      OFNS  -  906 words
    • 674 3 Reuter AP PARIS, Frl. Senior officials from the 24 Organisation for Economic Cooperation and Development nations resumed talks on a common fund for commodities agreed in principle at the North-South dialogue ministerial meeting here in June, International economic sources said. They said the main purpose
      Reuter; AP  -  674 words
    • 345 3 Reuter LONDON, Fri. The Henley Centre for Forecasting predicted a period of at least five years' stability in the overall sterling exchange rate, accompanied by a worsening UK cost position vls-a-vls competitors. The research body said in its September "Framework Forecasts" it expects
      Reuter  -  345 words
    • 285 3 Reuter WEST BERLIN, Fri. West Germany's gross national product looks to have grown at a real seasonally adjusted annual rate of 0.5 per cent In second quarter 1977, down from four per cent in first quarter and six per cent in the last quarter of 1976,
      Reuter  -  285 words
    • 174 3 ACROSS. 1, Glass. 6, SA-Una. 9. Pa-ragon. 10, Ca-bo-t. 11, MO-IRA. 12. Olven. 13, General. 15, Was. 17. Is-ls. 18, Saline. 19, 8ally. 20. Elects. 22. Sate. 24. Son. 25. Spanner. 26. Drupe (droop). 27. Salad (days). 28, Drops. 29. Look-out. 30, Denim 31, Osier. DOWN.—2.
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    • 273 3 UPI PARIS. Fri. The rate of inflation In the major Industrialised countries dropped sharply In July, the Organisation for Economic Cooperation and Development reported yesterday. However, average prices in July were 9.2 per cent higher than they had been the previous July, the organisation
      UPI  -  273 words
    • 99 3 UP EFTA SALES TO C-MART Reuter GENEVA, Frl. The seven nations of the European Free Trade Association (EFTA) Increased sales to the European Common Market (EEC) last year at a faster rate than trade among themselves or with the rest of the world, EFTA reported today. This trend was vice
      Reuter  -  99 words
    • 344 3 Reuter NEW YORK. Fri. The US economy will go into recession next year, and unemployment will skyrocket to BV4 per cent from the present 7.1 per cent. Chase Econometric Associates president, Michael Evans, said. He told a seminar here real gross national product
      Reuter  -  344 words
    • 497 3 UPI NYT WASHINGTON. Frl. Mr. Bert Lance's banking practices were under question by federal regulators from 1972 to within two weeks before President Carter appointed him Budget Director. Currency Comptroller John Helmann has testified. Mr. Helmann, lead-off witness at Senate Governmental Affairs Committee
      UPI; NYT  -  497 words
    • 197 3 Reuter NEW YORK, Fri. Some Saudi Arabian light marker crude oil is being offered in the spot crude market at a discount of 12 U8 cents (529.4 cents) per barrel on the normal 112.70 fob price, oil industry sources said here. The sources
      Reuter  -  197 words
    • 537 3 Reuter NEW YORK. Frl. The Federal Reserve report on money supply led to renewed Intense concern over the near-term course of monetary policy, market sources said. Narrowly-defined M-l rose a very substantial US$3 billion (557.3 billion) in the statement week ended Aug 31. The sources said
      Reuter  -  537 words
  • Page 3 Advertisements
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  • COMPANY NEWS
    • 524 4 FOLLOWING Improved trading operations in Singapore, the Bousteadco Singapore group has reported satisfactory growth In earnings for the first half-year ended June 30, 1977 and Is poised for an upturn for the full year. Group pre-tax profit for the period under review rose
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    • 325 4 MR RON RUSSEL has been appointed managing director of Rheem Hume Pte. Ltd. He was previously general manager and now becomes a member of the board. Holiday Inn Hotel has promoted Miss Janice Leek from senior sales officer to assistant sales manager; Mr. Joseph Toh from sales
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    • 370 4 UNITED Engineers (Malaysia) will clearly be hard put to try to maintain the current year's earnings at 1976 levels as it envisaged in its last annual report. If Its interim results are any indication, the company which wa* hived off from the
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    • 369 4 Current Ex Date Total for Total for payment Date payable tke year previou* year Uld Malacca 18% Aug 23 Sept 10 24% 20% Selangor Properties 8%I Auk 23 Sept 18 8%I 16% Alexandra Holding* 5* Sept 6 Sept 19 5% 5% C. Sugars 10% Sept 5 Sept 29
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    • 206 4 SEVENTEEN foreign oil companies have applied for rights to explore Pertamlna's Indonesian oilfields under a production-sharing contract with 50 per cent capital participation from the state-owned company. Asia Research Bulletin says in Its monthly economic report that Pertamina has offered four
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    • COMPANY MEETINGS
    • 35 4 HIGHLANDS AND LOWLANDS Estimated pretax M 523.49 million ($13.69) for the first six months ended June 30, 1977. Interim dividend 25 per cent (10) payable Nov 18 to shareholders registered by Oct 7.
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    • 1311 4 FT LONDON: "Brisk competition, which the present stock market boom can only intensify, Is beginning to develop In the city for the business of dealing in the shares of smaller companies not listed on the Stock Exchange. The tussle and that Is what
      FT  -  1,311 words
    • 493 4 FT LONDON, Frl. Sir Eric Miller Is believed to have sold his personal and family shareholdings in Peachey Property Corporation for more than £500,000, providing the springboard for an £11.8 million surprise takeover bid from Allied London Properties. Allied's 55p a share cash
      FT  -  493 words
    • 1197 4 On Sept 8 TRADINO in options on the Chicago Board Options Exchange came to 86,819 contracts on Thursday, compared with 65,669 contracts on Wednesday. OPTION OCT JAN APL STOCK Alcoa 49 31/4 4 41/4 46 1/2 Alcoa SO 1/2 19/16 21/t Ml/2 Alcoa •0 UNTRD 1/lt 7/lt
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    • 46 4 Reuter TORONTO, Frl. Inco said it will discontinue production of regular electrolytic nickel at Its Inco Metals Port Colbome, Ont., Refinery, from Jan 30,1078. The company cited market conditions, Involving a consumer switch to lowercost nickel, combined with an oversupply of nickel, In general. Reuter
      Reuter  -  46 words
  • Page 4 Advertisements
    • 257 4 r A while stocks last! $125/Th» Timas Atiaa of China to far mora than a collection of datailad, up-to-data maps. Itiaan informativa, ganaral guida to modarn China tha land itaatf, and tha aconomy and paoploa it auataina. Tha Atiaa contains maps of China's hiatorical dsvsiopmsnt, from prehistoric China to 1049;
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  • INTERNATIONAL COMPANY NEWS
    • 539 5 NORTH AMERICAN COMPANIES AP DISAGREEING with the other domestic car makers, Chrysler Corp predicted on Thursday that Imports would continue to hold a sizeable chunk of the US market In 1978. Chrysler unveiled three new Intermediates and two new Japanese-made
      AP  -  539 words
    • 228 5 Reuter The Commodities Futures Trading Commission approval in principle last week of rules for commodities options trading brought the American Stock Exchange's planned commodities option market closer to reality. The Amex plans to trade options on gold and silver billion and
      Reuter  -  228 words
    • 476 5 UPI THE HEAD of the Japanese Sony Corp said on Thursday the company will make at least 600,000 Betamax video recorders In 1978, double its production this year for the growing home video market. "The video home cassette age has come," said
      UPI  -  476 words
    • 109 5 Reuter ARMCO STEEL said on Thursday It will lay off an appreciable number of workers at its plant here. The company said the number of laid-off workers would probably total less than 1,000. It said they could be furloughed as early as next week. The Mlddletown plant, whose
      Reuter  -  109 words
    • 63 5 Reuter DOW CHEMICAL announced on Thursday It would repurchase 1.5 million common shares of Its stock over the next three to six months. The company authorised a similar repurchase last December, which was com- pleted earlier this year. The shares will be used for stock option and payroll
      Reuter  -  63 words
    • 324 5 Reuter MOBIL expects 1977 production of crude oil and natural gas liquid as well as natural gas to be about the same as last year, Mr. Alex Massad. president of Mobil Exploration and Producing Division told analysts here. Mr. Massad said Its 1976
      Reuter  -  324 words
    • 94 5 Reuter CBS INC'S CBS Television Net/work president Robert Wussler told analysts 1977 revenues for the three US television networks will Increase 20 per cent this year and 10 to 15 per cent In 1978. In the 1976 year, the CBS/ Broadcast Group, which consists of
      Reuter  -  94 words
    • 1122 5 SYDNEY, Frl. Thiess Holdings managed to raise consolidated operating profit by a marginal 3.5 per cent from A 516.72 million to $17.31 million for the year ended June 30, 1977 after a poor second half. Group sales excluding sales tax recorded an Increase
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    • 210 5 ASIAN COMPANIES Reuter TAIPEI, Frl. Several of Taiwan's state-owned enterprises will seek longterm financing for expansion projects from the US Export-Import Bank when Its new president John Moore arrives here tomorrow, Informed sources said. They said China Steel will seek financing for the second phase
      Reuter  -  210 words
    • 117 5 Reuter TOKYO Frl. Japanese bankruptcies In August rose to 1,538 from 1,413 In July and 1,289 In August last year, the Tokyo Commerce and Industry Research Company said. The company, whose figures are used by the Bank of Japan In its bankruptcy statistics, said
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    • 121 5 Reuter TOKYO, Frl. Nippon Steel said it decided not to pay an interim dividend for the first half year ending Sept 30. 1977 In view of worsening business conditions in the industry. Vice-president Daiso Imai told a press conference his company's profit before tax and
      Reuter  -  121 words
    • 100 5 Reuter MANILA, Frl. Ban com Group Inc has agreed to swap 500,000 shares worth seven million pesos for an equal value of shares with the Asean Investors Oroup (AIO), Bancom officials said The agreement has still to be approved by the Central Bank and the government's Board of
      Reuter  -  100 words
    • 97 5 Reuter MANILA, Frl. A syndicate of banks led by a subsidiary of the Bank of America in Hongkong will sign this month a US$25 million loan to Asia Industries for the purchase of USI Asia Pacific, informed sources said. USI Asia Pacific Is a Phi-lippine-based
      Reuter  -  97 words
    • 88 5 Reuter MELBOURNE, Fri. Western Mining Corp (WMC) said Diamond Drill Hole RD-17 at Roxby Downs. South Australia, lntersected 74 metres grading 2.5 per cent copper and 1.75 lb/tonne uranium oxide (U308) between 327 to 401 metres. Below 401 metres mineralisation appears weaker but assays are not yet available,
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    • 58 5 Reuter TOKYO, Fri. The Tokyo Stock Exchange said it raised the margin trading requirement for Mitsubishi Oil and Ishlara Sangyo Kalsha to 50 per cent Including 20 per cent In cash from 30 per cent without cash requirement with Immediate effect. It said the measure was taken to prevent
      Reuter  -  58 words
    • 183 5 UPI TOKYO, Frl. —Emerson Electric of Missouri is seeking a joint venture and business tie ups with small Japanese firms to step up their sales throughout the world. Kimio Obata, president of Emerson Japan, a wholly-owned subsidiary of the US company, told a news conference today
      UPI  -  183 words
    • 140 5 Reuter LONDON, Fri, Buoyed by a 37 per cent increase in sales, pre-tax profit at Bowater Corp Jumped 42 per cent from £31.5 million to £44.7 million in the first six months ended June 30, 1977. This constitutes earnings per share of 12.1p compared with 8.3p
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    • 134 5 Reuter LONDON, Fri. Pre-tax profit at Cadbury Schweppes rose about 17 per cent from £16 million to £18.7 million in the 24 weeks ended June 18, 1977. Sales also registered an identical margin of growth to £400.8 million from £340.7 million in the corresponding period of the previous
      Reuter  -  134 words
    • 99 5 Reuter PARIS, Fri. Cie Francalse des Petroles reported that the turnover for the commercial operations of its parent company and Its branches totalled 9.4 billion francs in the first half of 1977, up from 8.3 billion francs previously. The figure excluded subsidiary marketing of crude oil and petroleum
      Reuter  -  99 words
  • Page 5 Advertisements
    • 110 5 T^SINC DU SINGAPORE mess HIGHLIGHTS OF OUR AUGUST ISSUE: SINGAPORE .N. V V JPI TMkOt i<;5R CC*»"»» C T,ONS liuf m fa. 55oK«w Uf€ AT TMt To Br *»tt mtMOS^.. l ;r3£--a° or, F +g STOCK *A*«eT*V*« PLASTICS BOUNCE BACK The plastics industry is surging ahead of past growth rates,
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  • 2404 6 High Law Coapaay Last Safe +arGfr'a dlv Dhr e'vr Gr'a y'M Nat P/K Val Day High Low SECTION ONE INDUSTRIALS 154 204 116 238 88* 198* 169 224 414 171 136 172 58 212 57* 155 152 182 350 145 Acma Alcorn Allied Choc Bata Ben Bo
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  • 1297 6 BID aod offer p<le« officially Ihm ta reported to Um «ock Exchange oi Singapore yesterday with the number of share* Utjjied shown in bracket* tn lota of 1.000 units unless otherwise specified AU Time Settlement Contracts are quoted after the word "Sett." BK SECTION ONI INDUSTRIALS Acm
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  • 1502 6 BID and offer prices officially luted and business In and reported to the Kuala Lumpur Block Exchange yesterday with the number of shares traded shown In brackets in lots of 1.000 units unless otherwise specified INDUSTRIALS A una (1.41B). AJlnmaato (2 058 2 208). Almhs (1.878 >.
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  • 56 6 BTRIHNG prtoaa of tka ataok mptioaa officially Uitad oa tka Slack Exckaaga of 81agapara, tka parMa, W and offer prleaa aad baaiaaaa tea i aalw ilaj wltk tka aoaikar of options traded akown la brackvto. Inchcape (Sept. <2.40) (0.02B) (March $2.40) (0.158 0.255) St. Steamship (March 82.60) (0.10B)
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  • 142 6 singapobb unit tbubt INCOME BOND UNIT (Maaa#en' priaa far Sept 11) (Carre* prl Mas) The Commerce 1.74 l.M INCOME BOND 1.07 111 The Saving Fund 103 l.M S'pore Prog Fund o.« on MABA BUMIPUTBA FUND 8'pore Security (Maaa0ae' priM fa* Baal 11) Pund 153 l.ttxd First Bumtputra LB
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  • 148 6 B OT 8 1/2% IMI (100,000) (103 SB 104*8) B O T 7 5/8% IM4 (100.000) (99*8 99*8) L T C B J IMS (100,000) (M*B) Oedit Lyonnai* Floe tin* IM] (100,000) (M*B WHS) DBS Convert! 1/2% IMI i 100,000) (97M.8 98*8) I B 8 8 1/2% IM2
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  • 127 6 Bm Bmi D Mark 7% IMS (100,000) (1018 101*8) Rep Spore 8 1/2% 1988 (100,000) (99*8 100*8) Rod Spore 7 S/4% I*B7 (100,000) (100 SB 101*8) 1/2% 1/12/77 (250,000) (100.418 100.518) 5% T F 1/3/78 (250,000) (101.478 101.578) 5 1/2% 1/4/78 (250,000) (101.068 101.218) 8 1/2% 18/4/78 (250.000)
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  • Page 6 Advertisements
    • 176 6 Confront Singapore's decision makers in Business Times Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who For only $3.50 per single column centimetre
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  • 619 7 SENTIMENT rulsd rally mixed ia quiet trading mm the Stock M—i of Singapore yeetorday. Speculators continued to adopt a wall ami m sttituds Car want at a widsr msrgia far manoeuvre. They mn aba deterred by tbe lack of aay decisive tmd ia iwrwai market* which have
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  • 382 7 PRICES closed barely steady In another round of quiet trading at the Kuala Lumpur Stock Exchange yesterday. In contrast to the previous day's easier note, a steadier bias was noted In yesterday's trading as some bargain-hunting was seen. However, some industrial speculative issues continued to tend
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  • INTERNATIONAL STOCK MARKETS
    • 295 7 HONOKONO: The market dosed slightly firmer on Friday after a weak opening to fairly 10 to HK6ITOO and Swire Feeifle five to 06.46. while n.a'gji| Laad rose five cents to 06.66, Jaidiao MathwsJlO 90, and 2.50 cents each to 63.33 and 62.70 r6 ?urnover on the four exchanges totalled
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    • 533 7 TOKYO: Share prices on Friday, closed sharply lower on Investors' concern over increased margin debts, and the overnight fall on Wall Street, dealers said. The Dow Jones average lost 51.61 to clow at 5,199.72 with volume 240 million shares. The New Index closed at 385.69, down 2.64. Export-orientated shares
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    • 375 7 SYDNEY: The market eased on Friday, but some industrials recovered slightly from their morning lows, dealers said. The Sydney All-Ordlnarles £™PP*d 2.08 points to close at Banks were mixed with The Wslse easing two cents to A 66.28 and the Aes 20 to 63.40 while the Natieaal rose two
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    • 145 7 MANILA: The market closed mixed with oils continuing firm while minings and commercials declined on Friday, dealers said. Turnover rose to 10.36 million pesos from Thursday's 8.30 million. PUln and Lssmli lost one Clnt each but other mining ues were steady. A slight decline In metal prices abroad pulled
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    • 98 7 8 KPT 99 Bahtt Asia Fibre Bangkok Bank Bangkok Invwt. Bangkok-Metro-poll tan Bank 1W 3*3 233 6U ♦9 -J 10 Berll Jucfcer Charoonf Thai 432 1838 -9 Duroex DusitThanl Faber Merlin First Trust Oenera Finance Indo-Thal Industrial Finance 2348 1138 1396 unci) unch 10 J And J Ho Jalaprathan
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    • 301 7 AMSTERDAM: Shares closed mixed to firmer on Thursday, sided by higher overnight Wall Street prices, although trading was quiet, dealers said. Akso, Beogeveas and Philips edged lower, while Unilever and Royal Dutch rose 1.30 and 0-90 guilders respectively In Dutch Internationals Banks and Insurances advanced. Amev was 1.50 guilders
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    • 157 7 BRUSSELS: Belgian shares fell in quiet trading on Thursday, bourse sources said. St-Roch and FN rose but Sedate Osasrsls, Saflna, SUre, Vieille Moatagaa, HaiaaatSaafare, UCB. TahaeaAaa and Tliiliihaa all fell. In foreign stocks, UK were mostly up. Oerman and U8 were little cntnged. Dutch were irregular and French were
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    • 263 7 FRANKFURT: Leading shares lost mainly up to one mark on a lack of orders on Thursday, dsalsrs said. Among large movers, MsiallQM«n>rhaf> gained eight marks and Oiknleg loot six, but elsewhere changes were limited. Trading was very quiet. Public authority loans were mixed, with losaes up to 0.36 marks
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    • 154 7 MILAN: Main Industrial and financial leaders were generally slightly higher on Thursday, Influenced by technical factors In thin dealings, bourse sources said. Menteftkre firmed sharply after 1U recent losses Modest gains wen recorded by Aaic, Assicurasionl General!, Fiat, Generate Imasehiliare, Montedison and Pirelli Spa. Pirelli EC. Sate Vteeeoa and
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    • 340 7 PARIS: The market was quietly easier on Thursday, despite the proposed increase in the budget of tax-free limit on share dividend Income to 3,000 francs from 2.000, dealers said. CFPWt one per cent after announcing lower first half profit. Leading oils, banks, motors, constructions ®n*lneerlnes. electrlcals and metals lost
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    • 293 7 ZURICH: The market continued slightly firmer In active fading on Thursday, with profittaking generally well absorbed, dealers mid. Major banks edged lower and among Irregular flnanclals. Bally registered rose while Its bearer stock fell. Oerlikon Bnshrle registered was steady but Its bearer share continued easier. Interfood rallied following good
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    • 403 7 JOHANNESBURG: OoM shares were firmer on the Stock Exchange on Thursday, In line with bullion indications following the IMF auction result, dealers said. Heavyweights gained between 50 and 125 cents, mediums up to 29 cents and smaller priced shares upto 15 cents. Financial minings were steady on small gains.
      403 words
    • 312 7 TORONTO: Share prices closed mostly higher In active trade on the Toronto market on Thursday. Declines In six of the 14 sub-Indices pushed the comKte index down a fraction but led gains 194 to 188. Kaps Transport, the most active issue, rose C3S cents to $1.51 on 301,700 shares.
      312 words
    • 1219 7 NEW YORK: The stock market broke a string of five straight fains on Thursday, caring in under the weight of Interest raw worries, but trading was ihuWi. The fairly broad decline which followed an early morning rally attempt, was traced to market worries that money supply for the
      1,219 words
    • 63 7 FINANCIAL TIMES INDUSTRIALS Thursday 82®.0 Wednesday 534.2 Week Ago 4M.1 DOW JONES AVERAGE INDUSTRIALS Thursday 868.1« Wednesday VHM Week Ago M4.M LONDON DOLLAB PREMIUM Thursday 17* to 17% Wednesday t7K to 87% H.K. HANG SENG Thursday 4».79 Wednesday 4*7.74 Week Ago 419.0# SYDNEY INDUSTRIALS Thursday 372.82 Wednesday 370.33 Week
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  • Page 7 Advertisements
    • 394 7 BUSINESS TIMES Airline Directory 110-112 Shaw Centra, Orchard Raad. Singapara 9 (Tat: J77.111) Air CtylM 302-1, 3rd Rmt, Mwm Hwim Shantan Way, Sinistra (1) (Tab *****00) Air Franc* M GramdßMf, ICS laildinf, Shantan Way Simwin 1 (T«i: *****11) S'para Hyatt Hatal tt«>»ln| Arc Ma. 5 10-12 Scatt* Raad, Smjapara 9
      394 words

  • COMMODITY REPORTS AND PRICES
    • 504 8 ON THE Singapore rubber market yesterday, opening quotations were marked down 2 1/2 cents on lower I<or)don advices but later recovered marginally on some light shortcoverlng Interest, dealers said. Past midday, however, proflttaklne and some arbitrage selling emerged, causing' prices to fall back again, they
      504 words
    • 389 8 J'yjces in cents per kilo yesterday: Noon Close (per kilo) (per kilo) -t 1 Buyers Sellers Buyers Sellers Int 1 R.S.S. prompt f o b. 216 00 216 75S 215 75 216 25N Int 1 R.S.S October 217*25 217.75 217 00 217.25 Int 1 R.S.S. November 219 00
      389 words
    • 120 8 NOON SSR and SMR prices yesterday October Nov en iber R.A.S. (Current Mth) (Forward Mth) Buyers (cents Sellers Buyers Sellers perk*) (cents terk«) SSR 20 < 1 -ton Pallets) 208 00 210 00N 209 00 211 00N SSR 50 (1—ton Pallets) 206 00 208 00N 207 00
      120 words
    • 30 8 Rubber: Sept 9 Singapore: October 217.00 cent* (down 3.50 cents) Malaysia: October 217.75 cents (down 3.25 cents) Tin: 51,600 (down $25) Offical offering: 181 tonnes (down 36 tonnes)
      30 words
    • 200 8 BANGKOK, Frl. Indicative prices quoted here today were unchanged from Thursday's: (US dollars per tonne fob basis Bangkok) White Rice: 100 pet Ist class 308. 100 r't 2nd class 292. 100 pet 3rd class 283. pet 277. 10 pet 255.'15 pet 252. 20 pet 249. 25 pet 240. 35
      200 words
    • 419 8 LACK OF demand both at home and abroad, coupled with the uncertainty ruling In the international commodity markets, made for another dull period of trading on the Singapore produce market yesterday. Although a few local buyers appeared earlier, sellers were either not keen on meeting their demand or
      419 words
    • 204 8 LONDON, Frl. Coffee opened as expected £7 to £30 higher on turnover of 184 lots. Traders said activity was very subdued and two cross trades of 40 lots each made up nearly half the volume. Coffee finished the morning steady, up £32 to £4 on voTume of 575 lots.
      204 words
    • 60 8 C.I.F Rotterdam. US dollars Der ton LONDON Malaysia 5% ft a bulk Thursday Prfvioui Nov 445 sir 445 Sir Sumatra 5% (fa Sept 52Spd 525 pd Oct 480 pd 480 pd Nov 450 pd 452 50 pd December 445 pd 452 50 pd January 422 50 pd 422
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    • 171 8 LONDON, Frl. Terminal sugar was £1.40 per tonne lower (near December at £113.25 bid) to £0.10 higher at the opening call but was irregularly held In relatively quiet open trading. Dealers said sentiment was still much affected by the recent build-up of raw sugar offerings, notably from the Dominican
      171 words
    • 207 8 THE STRAITS tin price In Penang yesterday was down MS2S to Mil, Boo per plcul on an official offering down 38 tonnes to 181 tonnes. In LONDON yesterday, tin rose by £50 per tonne for cash and £22 for Three Months standard, while high grade advanced by £130
      207 words
    • 152 8 LONDON, Frl. The cocoa market yesterdav was steadier and prices closed at or Just below the day's highs. Turnover totalled 3,038 lots Including 1,171 lots selftraded. In NEW YORK on Thursday, cocoa prices closed 2.25 to 4.60 cents higher on reports that the Soviet Union had bought 1,000 bags
      152 words
    • 305 8 HONGKONG, Frl. The cotton futures market closed mixed in fairly active trading after a steady opening, dealers said. Trading Interest increased towards the close, with turnover rising to 86 lots from yesterday's 34. Open position after yesterday's trading were 169 lots. Dealers noted some uncertainty ahead of the
      305 words
    • 112 8 CHICAGO, Frl. Soybean futures yesterday finished with tosses of 9 Vi to 6 cents a bushel. Weaknesses In soybean riroduct cash markets and ower cash bids, clear Midwest weather and possibilities of earlier soybean harvesting prompted local and commission house selling which took prices lower at the opening and
      112 words
    • 52 8 CHICAGO, Frl. Wheat futures yesterday posted gains of 1% to 2% cents a bushel at the close. Commission house buying appeared early and continued during the session, prompting local short- covering and speculative buying which boosted prices. Traders said the market continued to derive support from export business and
      52 words
    • 456 8 DURING the period Sept 1 to 8, the rubber prices rose sharply by some 12 cents in active trading to firmly establish current month One RSS over the $2.00 barrier and touch highs recorded 18 months ago. At the outset, said Holiday, Cutler, Bath
      456 words
    • 378 8 LONDON, Frl. Copper declined by £3.50 per tonne for cash and £4.50 for Three Months. The easy New York close and expectations of a small rise In stocks this week served to soften the premarket where Three Months traded Initially at £890 per tonne. Subsequently, shortcovering steadied values briefly
      378 words
    • 183 8 LONDON, Frl. The silver market yesterday closed with losses of 1.2 to 1.6 pence per troy ounce. The market was very quiet with values slipping under negligible selling pressure following the continuing downward movement In base metals and a lack of fresh Incentive from gold, dealers said. Three Months
      183 words
    • 373 8 OOLD eased a little on the Singapore market yesterday onproflt-taklng and long liquidation. The kllobar opened at SSI 1,645 and firmed to SSI 1,669 In light trading. However, the market closed slightly easier at SSI 1.665. Dull conditions prevailed on the loco London market. From an opening of U*****.00/147.20.
      373 words
    • 101 8 LONDON, Frl. Zinc lost mostly £5.25 per tonne. This market also found general covering support around the lower levels after values fell to £297.50 for Three Months at the end of first ring dealings. The market closed at £299 for Three Months and worked up to £300.50 on the
      101 words
    • 52 8 LONDON, Frl. Lead prices yesterday declined by mostly £6.25 per tonne. The market held steady around the lower levels In modest two-wav trading although late selling on the kerb took Three Months down to £325 compared with £327 last paid In the ring. Sales of 1,800 tonnes were about
      52 words
  • MONEY AND EXCHANGES
    • 545 8 THE Singapore forex market yesterday saw the Malaysian dollar declining by about 50 points against the US dollar but movements in the other currencies were much less significant. The Malaysian dollar opened at M 52.4590/4610 but declined to $2.4633/38 by closing time. Movements In the Singapore unit tended to
      545 words
    • 40 8 acbc 6 J 6>< Alfemene Bank Citibank 6'< 7 HSBC CH Bank of America Indoauez «>. Bank of China 7 6*« (H S'« Bank Negara OCBC Indonesia 7 OUB Chartered Bank C>4 L'CB 7 CMBC 7 DBS COB
      40 words
    • 189 8 Asian rates ASIAN currency deposit Interbank rates as at close on Sept 8 7 days 1 mth 2 tilths 3 mths 6mths mths 8 mths 12 mths US Dolla Offer 1/4 6 S/16 .6 3/8 6 1/2 11/16 6 3/4 6 3/4 6 13/16 9». Pra. ir»(Sp»«> BU 6 1/8
      189 words
    • 51 8 RANOE of price* offered by discount houses on Sept Overnight 5* to 3 1/6* Call deposit 3* to 3 1/8* Clmiii« B«rta« 8* Iliac 3-Month Treasury bills 3- Month Bank bills 3-Month CD •-Month CD 3 1/16 43/8 4 13/16 51/S 215/16 41/4 411/16 S Source: National Discount Co.
      51 words
    • 134 8 Euro rates LONDON, Frl. Eurodollar deposit rates advanced folowlng an unexpected rise in the weekly US money supply data, dealers said. Rollover business was light and initially moderate far Eastern Interest subsided to low levels, dealers said. Trading in day-to-day positions was smaller and rates held steady around Thursday's closings,
      134 words
    • 134 8 NEW YORK, Frl. The dollar closed firm against most major currencies, with part of the advance coming In late trading following release of money supply figures for the week ended Aug 31 by New York Federal Reserve Bank. Dealers said trading was moderate, with some buying interest generated
      134 words
    • 228 8 LONDON, Frl. Sterling firmed against the dollar, especially on the forward market, In lively early trading on good generalised demand, dealers said. The One Month position moved briefly to par before moving back to show a small discount against the US unit. Spot sterling steadied at U551.7433/35, up from
      228 words
    • 128 8 TOKYO, Fri. The US dollar for overnight dellvery closed lower at 266.60 yen, compared with a 267.00 opening and 266.72 at yesterday's close. After an Initial rise reflecting the dollar's strength abroad overnight, the US unit fell on dollar selling to buy yen for Asian Centres and forward dollar
      128 words
    • 49 8 HONOKONO banknote rates quoted on Sept 9: US 4 82-4 64 UK 8 10-8 20 Burma 1.00-1.50 India 4 80-4 80 Indonesia 108-111 Japan 1 735-1 745 Korea 0 92-0.95 Philippines 0 575-0 505 Singapore 188-190 Malaysia 1 86-1 88 Brunei 1.86-1.88 Thailand 22 90-23 10 Talvan 1120-1150
      49 words
    • 61 8 AUSTRALIA/NZ exchanges on Sept 9: Australia Sterling 0 0304/0 0290 US dollar 1 1058 1 1010 Ninety-day air mall buying rates Sterling 0 6520 US dollar 1 1308 Ninety-day forward buying rates Sterling 0 6312 US dollar 1 0046 New Zealand Sterling 0 5568/0 5537 US dollar 0 9751/0
      61 words
    • 54 8 ZURICH exchanges closing quotes on Sept 8: US 2.3810-3818 UK 4 1515-1530 Can 2 2186-2191 W Oerm 102.55-00 Neth 96 97-97 05 France 48 45-48 Belg 6 66-W-07V. Denm 38 87-70 Norw 43.78-79 Swed 49 09-08 Italy O.MB-MN Austria 14 41-4142 Port 5 84-89 Spain 2 81-82 Art 0
      54 words
    • 44 8 FRANKFURT exchanges closing quotes on Sept 9: U8 2 3245/55 Can 2 1856/75 UK 4 052/ 082 Neth 94 40/50 SwlU 87.40/ 58 Italy 2 830/ 840 France 47 18/28 Japan 0 8728/35 Belg (com) 8 49/50 Belg (fin) 0 492/502 Norw 42.82/72
      44 words
    • 217 8 LONDON, Frl. US Issues traded lower In otherwise mostly steady and quiet Eurobonds, dealers said. US dollar bonds were up to K point lower following the increased US money supply figures, dealers added. They noted considerable professional selling, due to fears of higher US short-term Interest rates, but overall,
      217 words
    • 48 8 RESULTS of tender held on Sept 9 for 91-day Treasury bills to be issued from Sept 12 to 14: Offered: *20.000.000 Applied for: M7 000.000 Allotted: >30.000.000 Accepted Bid* hghSr" SM 24 lmately 1M bids in full Avera«e rmte of discount on allotment 2 975% p«
      48 words
  • Page 8 Advertisements
    • 167 8 c ASM RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide tp the latest developments that hove taken place in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin is divided into six separate reports of about 8,000 words eoch. There
      167 words

  • TRANSPORT AND COMMUNICATIONS
    • 98 9 THE Port of Singapore Authority (PSA) will conduct four courses during the next three months on port management and operations. The course Is primarily for first-line supervisors Involved In conventional and containerised cargo handling, but will also be suitable for senior and middle management personnel
      98 words
    • 75 9 Reuter WELLINGTON, Frl. Operations at New Zealand's four container ports Auckland, Wellington, Lyttelton and Port Chalmers have been halted by a strike of Waterside and Harbour Board employees. This follows a breakdown in talks between union and the Container Terminal Operators Association, industry sources said.
      Reuter  -  75 words
    • 1002 9  -  By TERESA LIM SHIPBUILDERS would welcome the establishment of an Export-Import (Exlm) bank for Singapore. This, some feel, would offer an alternative form of aid to local yards, which basically have only the Development Bank of Singapore's (DBS) newbulidlng re-financing scheme to turn to.
      1,002 words
    • 315 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Botany Triumph (1000 after Baltik subject gas free P/O) 16 Bunga Setawar (1500 after Dredging operations) 19 Car Liner No. 2 (car carrier) (1800 after Seishu Maru) 38/39 Cristobal Maru (0600 must sail not later than 1100/11 th) 42/43 Golden Glory (0600) 23/24
      315 words
    • 148 9 AP LONDON, Frl. Recently enlarged grain chartering subsided on a generally becalmed London freight market yesterday. New Inquiry remained slow to develop and shipowners remained reluctant to accept current low rates. Tradax fixed the Kieldracht with 16,000 tons of US Gulf grain from Chicago to Amsterdam at
      AP  -  148 words
    • 1042 9  -  The port is geared to handle and store imported items of all kinds. Special installations have been established to cater for perishable tropical products such as grain, oil seeds and feedstufTs. Facilities are also available to handle and store other import items liltg
      1,042 words
    • 228 9 THE States Steamship Company of San Francisco operates a fleet of five fast, modern cargo vessels and two roll on/roll off (ro-ro) ships under the US flag, serving Pacific coast ports and the Far East. Five cargo vessels of the "Colorado" type call at Singapore. Each "Colorado" type
      228 words
    • 192 9 FT STOCKHOLM. Frl. The Australian subsidiary of the Swedish L.M. Ericsson telephone company has received an order from the Overseas Telecommunications Commission (OTC) of Australia for computercontrolled international telephone exchange equipment. The exchange is of Ericsson's AKE type and is to be Installed in
      FT  -  192 words
    • 85 9 Reuter DETROIT, Frl. Chrysler Corp said Its 1978 model year sales should total 1.5 million, up 9.5 per cent from 1.37 million in model year 1977. The company forecast dodge truck sales of 500,000, up 5.3 per cent from 475,000 In model 1977. Company car sales in model
      Reuter  -  85 words
    • 607 9 ARRIVALS ocrvicc Local Operator Number Time From CAL CI 333 0040 TPE/HKG/KUL CPA CX003 0145 HKG MAS MH682 0810 KCH CPA CX710 1000 HLP CAL CI814 1000 HLP GIA GA900 1000 HLP GIA GA980 1030 HLP THAI TG423 1035 BKK SIA SQ211 1045 HLP GIA GA944 1055
      607 words
  • Page 9 Advertisements
    • 324 9 The first new idea in encyclopaedias in over 200 year- Britannica 3, Britannica 3 does what no other encyclopaedia has ever done before: It serves the three basic needs of users in three distinct ways. (see below) That's what makes it the most useable reference work ever developed. That's why
      324 words

  • 773 10 Boozing costs the Australian economy As7oo million a year. But the social costs are also high, and the social acceptance of drinking so entrenched it is hard for the Government to do much about it. Peter Deeley reports. OFNS MELBOURNE: When Australia abolished the "6 o'clock
    OFNS  -  773 words
  • 1016 10  -  By IBRAHIM NOORI Reuter TEHRAN: The Shah of Iran has ordered a slowdown in the rate of the country's march towards his concept of the "great civilisation." The vision Involved Iran becoming one of the five most advanced nations In the world as a result of developments
    Reuter  -  1,016 words
  • 572 10  -  By SAJID RIZVI UPI THE oil boom and its promise of riches has brought the city of Tehran a million squatters and about as many problems. The squatters spill into Tehran from village farms at the rate of almost 200,000 a year to seek work on building sites
    UPI  -  572 words
  • 786 10  -  By ERNESTO MENDOZA Reuter MADRID: Spain is knocking at the door of the European Common Market with a big basket of fruit and vegetables that may Impede Its entry. By shifting from dictatorship to democracy so soon after the death of General Franco, Spain
    Reuter  -  786 words
  • 903 10  -  By MOHSIN ALI Reuter LONDON: Increasing International Interest In the potential resources of Antarctica has heightened concern among governments about protecting the cold and windswept region from Irrational exploitation and environmental pollution. Antarctica Is one of the least accessible areas and comprises one-fifteenth of the world's surface.
    Reuter  -  903 words
  • Page 10 Advertisements
    • 168 10 GAMBLERS HANDBOOK g tMpo a S>i A 1 Hors^ o ofD 5P fia^ Ditf fP Cas' n(J I^ 7 s Dfl rn^ 5 P II poo m fee 16/ I by E. Lenox Figgis F.C.A. A practical handbook explaining how hotting takes place on the world's most popular betting pastimes,
      168 words

  • 407 11 UPI DACCA, Frl. Bangladesh has launched an "action plan for agriculture" to end her long dependency on imported foodgrains by 1985. Government officials and agricultural experts worked for more than six months to come up with a way to cut
    UPI  -  407 words
  • 355 11 UNLIKE Singapore, Hongkong businessmen are increasingly pessimistic about their prospects for domestic export growth, with projections being scaled down heavily because of protectionism by the EEC. There is, however, one export industry which is doing well and this Is the watch industry. The
    355 words
  • 76 11 Reuter HONGKONG, Frl. The i value of Hongkong's I domestic exports of clothing other than fur clothing fell to HK$7.6O r billion (Ss4 billion) In the first seven months of 1977 from $8.01 billion In the same 1976 period, Census 1 and Statistics Department figures show. Exports
    Reuter  -  76 words
  • 96 11 Reuter HONGKONG, Frl. Hongkong's gold bullion imports recovered further to 162,059 ounces (4.59 million grams) in July, the highest for any month this year, from 129,400 ounces in June, Census and Statistics Department figures show. However, they were below July 1976 Imports of 288,534 ounces,
    Reuter  -  96 words
  • 102 11 Reuter TOKYO, Frl. Demands submitted by Japanese Government ministries for appropriations in the national budget for fiscal 1978 starting In April totalled 33.04 trillion yen (*****.88 billion), an increase of 15.9 per cent over 28.51 trillion in the budget for fiscal 1977, the Finance Ministry said.
    Reuter  -  102 words
  • 159 11 AFP WASHINGTON, Frl. The World Bank group today announced loans totalling US$73 million (Ssl7B million) to India and Indonesia. The International Development Association, an affiliate of the bank, has approved a $58 million credit to finance an Irrigation project in India's Orlssa state. The 1116
    AFP  -  159 words
  • 124 11 Reuter HONGKONG, Frl. Trading hours for cotton futures on the Hongkong commodity Exchange will change to 2.30 pm to 6.30 pm local time (0630 to 1030 GMT) from Oct. 3, the exchange said. A major reason for the change is that it will enable European
    Reuter  -  124 words
  • 57 11 AP A THREE-member delegation from the Japanese Democratic Socialist Party led by Mr. Sabaro Tsukamoto, which arrived here on Thursday, held talks with Prime Minister Lee Kuan Yew yesterday, a Japanese Embassy source said. The delegation which has already hefd talks with leaders in the Philippines,
    AP  -  57 words
  • 332 11 Reuter SEOUL, Frl. Deputy Prime Minister Nam Duckwoo said South Korea would welcome foreign Investment In machinery, electronics and chemicals as top-prlorlty Industries during Its fourth five-year development plan started this year. He told an International conference on the Korean economy that advanced technology from
    Reuter  -  332 words
  • 164 11 THE FIRST batch of 13 fashion arts trainees has Just completed their twoyear training course at the Industrial Technician Certificate level and are now available for employment. According to the latest ITB News, the Industrial Training Board's newsletter, the trainees have undergone a wide range of activities including
    164 words
  • 175 11 AP TOKYO, Frl. Chairman Hua Kuo-feng told a crowd of more than 10,000 people In Peking today that Mao Tse-tung "will always be with us" and "will always live In the hearts of the Chl.nese people and revolutionary people the world over." Chairman Hua
    AP  -  175 words
  • 436 11 UPI TOKYO, Frl. Visiting Thai Prime Minister Thanin Kralvlchlen expressed "full satisfaction" on the outcome of his official mission to seek economic cooperation and technical assistance from Japan. The Thai leader said he was "very grateful" to promises given by Japanese Prime Minister
    UPI  -  436 words
  • 754 11 AFP Reuter TOKYO, Frl. The Japanese economy remains in the doldrums with Industries generally unable to clear their excess Inventories, an official economic report said today. The report, published by the Economic Planning Agency, said no marked progress is seen In Inventory adjustment because
    AFP; Reuter  -  754 words
  • 166 11 AFP TOKYO, Frl. The Bank of Japan today announced the lowering of Interest rates on commercial bank deposits by a uniform 0.5 per cent a year, effective Sept 26. The bank deposit interest rate cut is the third this year. The three cuts in the official
    AFP  -  166 words
  • 122 11 Reuter TOKYO, Frl. Japan's production of home-use colour video cassette tape recorders (VTR) this year will to tar more than 500,000 sets, half of which will be exported, mainly to the US, compared with 270,000 sets last year, a spokesman for Victor Company of Japan Ltd said.
    Reuter  -  122 words
  • 94 11 Reuter OSAKA, Frl. Professor Lawrence Klein of Pennsylvania University said world economic growth will probably be 4.2 per cent In 1977 rather than the 4.7 per cent estimated earlier In the year. In a speech he told Japanese businessmen here that under present circumstances world economic conditions may
    Reuter  -  94 words
  • 193 11 AFP LONDON, Frl. Sewing machine that "thinks for itself" thanks to an electronic brain Is being exhibited at an Industrial sewing equipment show which opened on Wednesday for three days at the Leeds (Yorkshire) headquarters of Wlra, the British textile and clothing research centre.
    AFP  -  193 words
  • 296 11 UPI PARIS, Fri. New Zealand faces a complex economic future in the medium term, according to a report jjublished today by the for Economic Cooperation and Development, and should aim to boost exports to overcome the recession which has (ripped it for the
    UPI  -  296 words
  • 444 11 AS OFFICE procedures and management become Increasingly complex, a simple approach to organisation Is highly important. Mr. Llm Boon Tong, director of the Management Training Centre, Introduced what he called the SIMPLE formula to management at yesterday's Asian Business Exposition (Abex '77) seminar, held
    444 words
  • 197 11 Reuter CANBERRA, Fri. A possible resources or secondary tax mooted In the 1977/78 budget paper would not apply to the mining industry generally, National Resources Minister. Doug Anthony, told Parliament. He said the secondary tax is only a possibility for oil and uranium producers and
    Reuter  -  197 words
  • Page 11 Advertisements
    • 283 11 APPOINTMENTS Texas Instruments SINGAPORE (PTE) LIMITED Offers career opportunities for experienced and matured candidates to become INTERNAL AUDIT MANAGER Applicants must be between 25 to 35 years old, and who are Chartered Accountants or holders of a Degree in Acountancy. He must have at least five years audit experience in
      283 words

  • 251 12 MARATHON Le Tourneau Offshore, one of Singapore's major 011-rlg yards, has won an order for a 155 million Jack-up rig from Reading and Bates Drilling of Houston. Texas. The newbuildlng, Marathon Le Tourneau 116tfass. is for 100 metres of water. Delivery Is scheduled for October next
    251 words
  • 226 12 ANOTHER property auction Is scheduled to be held on Sept.2l, despite the fact that the previous four In just two months have been unsuccessful. Cheong Koon S*r»g and Company Pte Ltd \JBterday announced It Is cfflering two more proper--One of these Is a 2,800
    226 words
  • 769 12 BONDON, Fri. Government fnds were up to point [her on the dav following the t In the Bank of England's minimum lendng rate to OH per cent from seven per cent, dealers said. Some equity leaders were a penny or 2p higher on the day while others held
    769 words
  • 168 12 AFP BONN, Fri. Wert German Minister of the Economy Han* Friderichs resigned today leaving the reasons for his abrupt departure unclear. He stepped down as the government struggled with the major crisis triggered by the kidnap of industrial leader Hans Martin Schleyer. Mr.
    AFP  -  168 words
  • 162 12 SEVEN British companies will begin an eight-day market survey in Singapore today. They are from the Westminster Chamber of Commerce, which comprises businessmen and professionals operating in the City of Westminster. The mission Is here because it considers Southeast Asia a highly important area with
    162 words
  • 96 12 MISS Margaret Khoo, daughter of Goodwood group chairman, Tan Sri Khoo Teck Puat, and also a group director, has resigned all her appointments in the organisation. An announcement by Goodwood Hotels Corporation yesterday said Miss Khoo had resigned all her appointments and she ceases to have authority
    96 words
  • 465 12 SINGAPORE and some other nations In South-east Asia have the same exposure to computers as highly developed countries. This was stated yesterday by two computer experts, Encik Rohan bin Kamls and Dr. K.C. Pang who delivered a Joint paper on
    465 words
  • 290 12 SINGAPORE does not need legislative control of prices, except for essential goods where surveillance may be necessary. "The free enterprise system works for public interest," affirmed the exceutlve secretary of the Consumers Association of Singapore (CASE), Mr. Ivan Baptist. "Government and CASE would
    290 words
  • 244 12 MORE companies In Singapore can be encouraged to start apprenticeship schemes with the Industrial Training Board, through competitions like the latest "Apprentices of the Year" in metal machining, which publicises one of many types of training available, said Mr. H.R. Hochstadt, the ITB deputy
    244 words
  • 157 12 Reuter KUALA LUMPUR, Frl. Majority Malays under the government's new economic policy, more than doubled their businesses from 24,549 In 1971 to 55,160 in 1976, registrar of business Enclk Abu Bakar Hassan said here today. Enclk Abu Bakar said this did not Include Joint
    Reuter  -  157 words
  • 416 12 KUALA LUMPUR, Frl. Finance Minister Tengku Razalelgh Hamzah met leaders of the private sector for nearly six hours in Kuala Lumpur today to obtain their views on the current state of the economy and how to increase productive capacity. Today's meetings were the first In series
    416 words
  • 230 12 AIP LONDON, Frl. Multlna-. tlonal groups operating In Britain should be systematically supervised, but some of them might be nationalised if this is in the national' Interest, the leftwing dominated national •executive' of the Labour l*arty suggests In a document prepared for
    AIP  -  230 words
  • 120 12 TWO companies were yesterday ordered to be wound up on grounds of insolvency by Mr. Justice D'cotta. Grace Pharmaceutical Pte Ltd, ylth an outstanding debt of $625,166 was wound up on petitions from Bank of America, United Malayan Banking Corporation, Indian Overseas Bank, Bank
    120 words
  • 353 12 AFP BANGKOK, Fri. Representatives of trade promotion agencies from within and without Asia and the Pacific are meeting In Bangkok to consider ways and means whereby the developing countries of'the region would be assisted in their efforts to improve trade relations with the
    AFP  -  353 words
  • 263 12 KUALA LUMPUR, Frt. Nearly 30 of the 54 trade unions Invited to a meeting on Sept. 25 to form a new federation of unions have so far confirmed their acceptance. The proposed federation Is for Trade unions who are dissatisfied with the MTUC and
    263 words
  • 126 12 Reuter BANGKOK, Frt. Thailand's trade deficit is expected to reach 16,000 million baht (551.95 billion) this year, an official publication reported here today. The Commerce Ministry's Dally Trade News quoted Mr. OB Vasurath, president of the Board of Trade, as saying that the total
    Reuter  -  126 words
  • 209 12 THE Indonesian Government has amended regulations to encourage their import-export trade. It has abolished import duty and other levies on all goods and materials brought Into bonded warehouses for processing Into export goods, whether from within the country or abroad. Goods that are taken
    209 words
  • Page 12 Advertisements
    • 101 12 INTERNATIONAL OILFIELD SUPPLY COMPANY HAS VACANCIES FOR SALESMEN The job involves the marketing of high class oilfield product lines to the national ond international oil companies in South East Asia substantial travelling is involved. Applicants should be aged 30 45 and have had a successful career in marketing of engineering
      101 words
    • 203 12 SEE PAGE 11 Give us a man fbra monthwell give him a language for life Mngua now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree
      203 words