The Business Times, 19 September 1977
1977-09-19
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The Business Times
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Title Section10 1977-09-19 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, SEPTEMBER 19, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article87 1977-09-19 1 AP LISBON, Sun. A strike by pilots of Portugal's national airline entered Its third day today as their union battled with government representatives to settle their demands for better pay and working agreements. In Spain, however, a nationwide slowdown strike by Spanish air traffic controllers has ended,AP - 87 words
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Article87 1977-09-19 1 Reuter KUWAIT, Sun. Kuwait is reconsidering plans to set up a nuclear power plant because construction costs quoted by mainly Western European companies were much higher than original estimates, according to the country's chief power engineer today. But the project, which foreign firms were said to have offeredReuter - 87 words
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Article77 1977-09-19 1 AFP MANILA, Sun. A Manila investment company has filed a U*****,333 (about $570,000) countersuit against an American-owned bank which had filed a suit to recover $999,000 it had erroneously paid out to a Filipino couple. Published reports here today said Elnor Investment told a civil court that the MellonAFP - 77 words
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Article58 1977-09-19 1 AFP ISTANBUL, Sun. —Expertsfrom 75 countries including oil producers, Third World states and industrialised nations will meet here tomorrow at the 10th World Conference on Energy to seek ways of averting a major crisis at the end of this century. About 1,500 experts are expected to attend theAFP - 58 words
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Article75 1977-09-19 1 UPI SAN DIEGO, Sun. The chairman of the state Air Resources Board said over the weekend a way has been found to allow construction of a US$5OO million (S$ 1,230 million) terminal in Long Beach to receive Alaskan oil. Mr. Tom Quinn, speaking at a meeting of UPIUPI - 75 words
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Article70 1977-09-19 1 AFP HONGKONG, Sun. Foods imported to Hongkong will be subject to checking at a new inspection centre to be set up at the airport by the middle of next year, an Urban Council announcement said today. The centre will be equipped with modern refrigerated storage facilities andAFP - 70 words
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Article66 1977-09-19 1 AFP JAKARTA, Sun. The Saudi Arabian Government has offered two Indonesians companies to build a satellite, down at Rafah, near the border with Kuwait, it was reported here today. The two companies, Bangun Cipta Sarana and Harapan Permai Housing, have been commissioned to draw up a housingAFP - 66 words
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Article58 1977-09-19 1 UPI WASHINGTON. Sun. Many developing countries had higher economic growth rates during the recession years of the mid-70s than industrialised nations, according to the World Bank. But one billion people still live In poverty. Growth in the gross national product of the poorest countries Is not "makingUPI - 58 words
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Article59 1977-09-19 1 AFP KUALA LUMPUR, Sun. A Yugoslav economic mission will arrive here soon to finalise the text for a double taxation agreement between Malaysia and Yugoslavia. Disclosing this today, the Yugoslav ambassador here. Mr. Vlatko Cosic, said the mission, which would be the first to visit Malaysia since 1975,AFP - 59 words
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Article114 1977-09-19 1 THE following list of stocks gives the 10 most traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units, closing prices on Friday and the high and low for 1977. Turnover PricM High Low Company 000 Sept 16 1977114 words
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LOCAL STOCK INDICES
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Article74 1977-09-19 1 Sept 12 Sept 13 Sept 14 Sept 15 Sept 11 ft BT Index: 423.42 426.68 431.00 Closed 435.12 Industrials: 264.91 264.60 265.16 Closed 265.32 Finance: 443.63 442.68 442.68 Closed 443.73 Hotels: 170.56 170.38 170.46 Closed 170.17 Properties: 166.17 165.79 167.03 Closed 167.50 t Tins: 130.64 130.74 129.71 Closed 130.0074 words
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Article82 1977-09-19 1 Sept 12 Sept 13 Sept 14 Sept 15 Sept 11 tt BT Index: 473.13 473.08 473.99 Closed Closed Industrials: 292.73 291.58 291.85 Closed Closed Finance: 380.50 380.50 381.61 Closed Closed Hotels: 175.32 174.95 175.09 Closed Closed Properties: 153.00 152.59 152.79 Closed Closed t Tins: 135.55 134.89 135.05 Closed Closed82 words
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Article1596 1977-09-19 1 JOHN TAN - NOT ALL SHOULD BE SPENT ON A FLAT By JOHN TAN THE latest Increase in the Central Provident Fund contribution rate may not look much In Itself but It Is an Important step in ensuring that wage earners in Singapore retire with some1,596 words
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583 1977-09-19 1 Reuter AFP KUALA LUMPUR, Sun. A special government unit will be formed to encourage multi-national corporations to set up regional headquarters in Malaysia, Prime Minister Datuk Hussein Onn announced here today. Speaking to reporters before leaving for Japan on a six-day official visit,Reuter; AFP - 583 words
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Article393 1977-09-19 1 AP Reuter WASHINGTON, Sun. The World Bank today urged the Industrial countries to Increase assistance to the more than 800 million people In the world's poorest countries that "cannot break the grip of poverty by themselves. Stressing that "economic management Is critical to theAP; Reuter - 393 words
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Article144 1977-09-19 1 FINANCE Minister Hon Sul Sen left Singapore yesterday for Barbados to attend the Commonwealth Finance Ministers' conference. After the two-dav meeting In Barbados, starting on Wednesday, Mr Hon will go to Washington for the Joint IMF-World Bank meeting. Before leaving, Mr. Hon told newsmen at the airport144 words
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298 1977-09-19 1 UPI WASHINGTON, Sun. In a "doomsday scenario," American officials expressed fears that developing nations, impoverished by skyrocketing oil prices, could threaten the world economy if they started defaulting on American bank loans. A Senate Foreign Relations Committee report released over the weekend saidUPI - 298 words
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260 1977-09-19 1 AFP WASHINGTON, Sun. Death and starvation rates In South and South-east Asia may triple and quadruple between the years 1985 and 2005 because of the shortage of food and the vastly Increased cost of foodstuffs, says a Joint study by two United StatesAFP - 260 words
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291 1977-09-19 1 THE annual number of births In Singapore Is expected to Increase during the next eight years before stabilising at about 50,000 from 1985 onwards. This will result In the goal of zero population growth being realised In the year 2030. By then, Singapore's population291 words
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Page 1 Advertisements
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Advertisement66 1977-09-19 1 r Ricoh for plain paper copying *****33 'Vf Wywy Private Limited ■ftv a responsible company 39th Floor Hong Leong Building Singapore 1. SEE THIS PAGE INSIDE Leisure/ TV A Radio/ Crosswords P 2 Leisure P 3 Features P 4 International Co Newt/ Overseas News P 5 Local Co News p66 words
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Advertisement140 1977-09-19 1 Foreign Currency dealings? ACBC makes it easy. Come to the bank that not only has the resources, but the connections. Be it in renminbi, or other major foreign currencies. Or other aspects of international transactions. ACBC is the bank that makes banking easy for all its clients With a simple140 words
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Advertisement123 1977-09-19 1 lesDior JAL FLIGHT 712: THE TOKYO EXPRESS Non-stop tolokyo, same-day NEW YORK VANCOUVER to the US. &Canada. Mrs *.V» To* ■WSAN 1 FRANCISCO I HONOLULU l SINGAPORE MEXICO CITY Only on JAL can you non-stop to Tokyo, then make convenient connections to U.S. and Canada. 39 JAL flights depart every123 words
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Article748 1977-09-19 2 SINGAPORE'S venture into stock options trading was a bold move. Now eight months' later, some observers may view it as a foolish move on hindsight. For the options board put up with so much hope and fanfare by the Stock Exchange of Singapore in February this year748 words
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REVIEWS
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Article, Illustration772 1977-09-19 2 CKT - MUSIC By CKT AFTER the deeds of debut night last Thursday, some maledictory remarks about the Singapore Philharmonic Orchestra have begun to circulate. The ensemble is a case in haste. It is still wet behind the ears. From present standards, It will have772 words
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941 1977-09-19 2 RAYMOND ERICSON - By RAYMOND ERICSON NYT NEW YORK: Faced with the gleaming array of knobs and switches on their amplifiers or receivers, newcomers to audio often feel intimidated rather than challenged. Their personal contact with their equipment remains restricted to the mainNYT - 941 words
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Article538 1977-09-19 2 HANS FANTEL - By HANS FANTEL NEW YORK: The need for organisations to promote the music of Wagner, Beethoven and composers of such stature would seem to be dubious. That does not stop them from being formed. And, If one looks at their aims, It must be admitted that538 words
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Article, Illustration948 1977-09-19 3 John McQuiston - By John McQuiston NYT NEW YORK: Robert Lowell, the Pulitzer prizewinning poet who was regarded by many critics as the best English-language poet of his generation, died here last Monday night at Roosevelt Hospital after a sudden Illness, according to an announcement byNYT - 948 words
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Article, Illustration502 1977-09-19 3 tOPERA AFP PARIS: Maria Callas, the Greek opera singer who died here last Friday aged 53, held a unique place In the history of live and recorded opera. In a career spanning more than 27 years, she enchanted audiences throughout the world bothAFP - 502 words
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821 1977-09-19 3 John Wallace - By John Wallace Reuter EVASTON, (Illinois): "Be careful, that was easy," said the computer, gobbling up a knight I had left unprotected In the middle of the chessboard. It was my third admonishment of the game, and I resigned a few moves later toReuter - 821 words
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628 1977-09-19 3 Gregory Jensen - By Gregory Jensen UPI LONDON: For nearly 60 years, the late Professor J.R.R. Tolkien laboured on a great work called "The Silmarillion," and at last, It was published last Thursday. A mighty book it turns out to be. And a peculiarUPI - 628 words
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Page 2 Advertisements
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Advertisement201 1977-09-19 2 Pricc Waterhouse offers a rare opportunity to ambitious young accountants who desire to make the profession their career: join our senior audit staff and set your sights upon rising to the top in the profession to assistant manager, manager and then to partner. If you j are ambitious, have had201 words
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Page 2 Miscellaneous
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Miscellaneous290 1977-09-19 2 SINGAPORE 5 3.00 PM Opening announcements followed by Valar Pirai (TamilRepeat) 3.30 Diary Of Events (Tamil) 3.35 Afternoon Matinee Sweet Smell Of Success (Pt. 1) Starring: Burt Lancaster, Tony Curtis, Susan Harrison, Marty Milner 4.25 Intermission 6.10 Opening announcements followed by Inquiry Design For Living 6.30 News in Brief 0290 words
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Miscellaneous512 1977-09-19 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 4 Various plungers (fl) 7 One who works with a will (8) 8 As far apart as canoes can be (6) 10 A great stop (5) 13 Neither A nor B can be tied in knots! 14 A taste of naval life (4) 15 Polonlus's512 words
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Page 3 Advertisements
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Advertisement231 1977-09-19 3 rJ* sr... -ssT *3a > Bfc* A C v> if-C Relaxing at the pool Success in today's world of business calls for a constructive approach to financings sound knowledge of the available markets, and original ideas. These are the strategic qualities that Wardley can provide throughout Asia. Wardley Limited, backed231 words
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Page 3 Miscellaneous
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Miscellaneous47 1977-09-19 3 BriStdW »V V*. UJ«S ia. hc:D WPNC look «T rue -N»C. )|s^Si^iSj^u»?Dc>t r.vc wo ST,LL HO Sie#* of BC-iSTCXO VlojrßpcTgß foR MKT) not 'o HRVG Cy£M BOTkC«ED r?r 7* m tm»s wSoocjpiNce. on ms cp>N rotßhi onlv ONE. Iw»JG —-I ONUS once "Mis Vne vers MD9 Tw»e47 words
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Article, Illustration2095 1977-09-19 4 ANTHONY HARRIS - By ANTHONY HARRIS FT LONDON: For the second time in five years, stock market prices have reached an all-time peak at a time of record unemployment in the UK. This Is obviously tactless when trade union leaders are struggling to get another vear of rationalFT - 2,095 words
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Article76 1977-09-19 4 Letter to the editor WE refer to your article headlined "Daye of high charges numbered" of Sept 12 and wish to im»m the following corrections regarding maintenance charge* of the following apartments for which we are managing agents. Maintenance Charges in Some Singapore ApartApertinents Maintenance Charges Per Month76 words
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Article, Illustration1135 1977-09-19 4 GEORGE SHORT - By GEORGE SHORT Reuter LONDON, Sun. Ordinary Londoners still shake their heads sadly and say "Oh my Gawd!" when asked about the state of the British economy. As far as they are concerned, prices are still far too high and their belts tooReuter - 1,135 words
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Article, Illustration612 1977-09-19 4 ANDREW WALLER - By ANDREW WALLER Reuter LONDON, Sun. Britain's opposition Conservative Party Is wrestling with Internal discord about the crucial Issue of its relations with the powerful trades union movement. If Mrs. Margaret Thatcher, the party's leader, wants to convince the electors that she Is a viableReuter - 612 words
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Page 4 Advertisements
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Advertisement33 1977-09-19 4 Peter Benchley 'Better than JAWS, ever escalating shocks' -TIME 'Cracking entertain ment' -DAILY TELEGRAPH m 'For the second time -the book you can't put down -DAILY MAIL READ THE BOOK SEE THE FILM33 words
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OVERSEAS
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630 1977-09-19 5 NYT BONN, Sun. Since urban terrorists started to attack German businessmen as well as politicians a few weeks ago, the corporate leaders of Europe's richest nation have gone underground. Take Mr. Rudolph Ben-nlgsen-Forder, president of Veba, a big energy conglomerate that controls Aral, theNYT - 630 words
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263 1977-09-19 5 AP LONDON, Sun. A British insurance group has hired a squad of ex-British army officers who worked undercover against terrorists in Northern Ireland and other hot spots to protect Its clients. Including Lloyds of London, against kidnappers and terrorists, the Dally Mail reported yesterday.AP - 263 words
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Article255 1977-09-19 5 Reuter WASHINGTON, Sun. The US Industrial production index fell 0.5 per cent in August, the first decline since January, the Federal Reserve Board said. In July the index rose 0.5 per cent. It now stands at 138.2 (base 1967) and Is 5.3 per cent higher thanReuter - 255 words
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Article113 1977-09-19 5 LONDON, Sun. Rich and poor nations have their eyes on the potential wealth under the South Polar ice cap and in Antarctic waters. Spokesman for the Third World are claiming that developing countries should have a share In Antarctic riches, and this will be one of113 words
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180 1977-09-19 5 Reuter WASHINGTON, Sun. Budget Director Bert Lance emerged from three day* of Congressional grilling over his financial affairs confident that he would remain in his post. "I shall return to my duties as Director of the Office of Management and Budget with evenReuter - 180 words
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Article192 1977-09-19 5 AFP NEW DELHI, Sun. A sharp setback In the rate of growth, a higher level of monetary expansion and a resurgence of price Inflation were the salient features of the Indian economy during the fiscal year *****7 (April March), the Reserve Bank of India said.AFP - 192 words
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Article80 1977-09-19 5 UPI NAIROBI, Sun. One reason cited by diplomats for the fighting between Ethiopia and Somalia in the Ogaden desert region is that there may be oil In the territory. The two countries have been fighting for weeks to get the upper hand in the region, whichUPI - 80 words
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780 1977-09-19 5 AFP TOKYO, Sun. Japanese diplomacy Is facing a stiff test how to keep up good political and economic relations with both China and the Soviet Union without taking sides. Sources close to the Japanese government said that the conclusion of a Slno-JapaneseAFP - 780 words
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INTERNATIONAL COMPANY NEWS
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406 1977-09-19 5 AFP JOHANNESBURG. Sun. South Africa's giant Anglo American Corporation has signed an agreement In partnership with four other International companies to operate a copper mine In FIJI. Gordon Waddell, the Anglo man responsible for Australia at the corporation's head office here said on FridayAFP - 406 words
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151 1977-09-19 5 Reuter DORDRECHT, Sun. Du Pont is considering closing one of its two European Orion acrylic fibre plants in Holland and Northern Ireland, Du Pont De Nemours Nederland BV said. Alternatives are to continue both plants at reduced capacity or to shut themReuter - 151 words
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101 1977-09-19 5 Reuter OSAKA, Sun. Matsushita Electric Industrial said It will offer 50 million shares of capital stocks at market prices late next month to Increase its capital to 52.89 billion yen from the present 50.39 billion. The money to be raised through the planned proceedingReuter - 101 words
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Article40 1977-09-19 5 Reuter HONGKONG, Sun. The Wheelock Marden group said an extraordinary general meeting of shareholders In its Mow Tai development unit today < approved a special resolu- i tlon to put Mow Tai Into I members' voluntary 11- quldation. Reuter <Reuter - 40 words
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Article215 1977-09-19 5 UPI BALTIMORE, Sun. Seven oil company defendants, charged with a seven-year conspiracy to fix US*4 million worth of gas in the mid-Atlantic region, plan to appeal their convictions. US district court Judge C. Stanley Blair on Friday fined five oil companies the maximum $50,000 each.UPI - 215 words
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Article157 1977-09-19 5 AFP HONGKONG, Sun. The managing director of one of Japan's leading securities companies, Okasan International (Asia), said his company was continuing to remind Japanese investors that Hongkong is one of the most Important markets for those seeking international diversification in their portfolio* "It is our basicAFP - 157 words
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Article184 1977-09-19 5 AP PORTLAND, Sun. A Japanese firm Is to build a 294-metre drydock at the Port of Portland after submitting the apparent low bid of U5517.52 million, say port officials. The winning bid was submitted by Ishlkawajlma Harlma Heavy Industries of Tokyo. Port director Lloyd Anderson said IHl'sAP - 184 words
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Article91 1977-09-19 5 AFP DETROIT, Sun. General Motors was last Thursday the first US car company to fit its vehicles with diesel engines. Two Oldsmobile models the 88 and the 89 were displayed on Wednesday with this type of engine. Though petrol consumption is estimated atAFP - 91 words
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Article82 1977-09-19 5 Reuter SEOUL, Sun. United California Bank of the US and Saitama Bank of Japan have been authorised to open representative offices here, the Bank of Korea said. This brings the number of foreign banks with representative offices In South Korea to 11, while 17 otherReuter - 82 words
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Article107 1977-09-19 5 HONGKONG, Sun. Group operating profit at Grand Marine Holdings rose 55 per cent from HK$l4.ll million to $21.86 million for the first half of this year. The results for the 1976 first half Included only three months contribution from Goodwin Marine and Industries. The company said It107 words
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Article90 1977-09-19 5 Reuter DALLAS. Sun. LTV Corp said it expects to report a substantial after-tax loss for the third quarter principally as a result of plans to sell a number of interests. The company said It proposes to divest its Interests in water transportation, land development, hotel and resortReuter - 90 words
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220 1977-09-19 5 SYDNEY, Sun. Consolidated Gold Fields Australia (COFA) said the Gunpowder Copper Mine In northwest Queensland will be placed on a care and maintenance basis tomorrow In view of the heavy losses the mine Is making. CGFA said the decslslon to close the mine until220 words
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Article194 1977-09-19 5 Reuter LONDON, Sun. Ford Motor has offered pay Increases of £6 a week to the majority of Its 57 000 hourly paid production workers, a Ford spokesman said. This would bring the bulk of basic earnings to £77 a week from the present £71 whileReuter - 194 words
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Article125 1977-09-19 5 AP TOKYO, Sun. Talyo Fishery of Japan has concluded an estimated US$4O million barter contract with the Soviet Union to import whale meat and fish, the Japanese newspaper Nihon Kelzi Shimbun reported. In return, Japan will export large fish canning and fishing net-manufacturing plants and three refrigeratedAP - 125 words
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Bonds
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Article62 1977-09-19 5 Reuter LONDON, Sun. Spanish electricity utility Fecsa plans to borrow US$lOO million for seven years from a consortium of banks, lead manager Bankers Trust International said. The Euroloan will have a split spread of 1H per cent over London Interbank offered rates for the first three years and 1Reuter - 62 words
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Article37 1977-09-19 5 Reuter DUSSELDORF, Sun. The 100 million mark 5.5 per cent five-year Eurobond for Girozentrale Und Bank Der Oesterreichischen Sparkassen of Vienna was priced at 100.50 per cent, a spokesman for lead manager Westdeutsche Landesbank Girozentrale said.Reuter - 37 words
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Article34 1977-09-19 5 Reuter AMSTERDAM, Sun. Cooperative Centrale Raif-feisen-Boerenleenbank BV (Rabobank) said its 150 million guilder per cent 10-year debenture loan priced at 100.5 per cent was heavily oversubscribed and allocations will be sharply reduced. Reuter.Reuter - 34 words
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Article37 1977-09-19 5 Reuter LONDON, Sun. The Bank of England announced the issue for cash of £800 million B'4 per cent 1982 Treasury stock at £98.25 payable in full on application. Lists will open and close Sep 22. ReuterReuter - 37 words
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Article77 1977-09-19 5 Reuter LONDON. Sun. RAS AlKahlmah, the gulf emirate, is raising a Euroloan of US$2O million for six years at IS per cent over London Interbank offered rates, a spokesman for one of the lead managers, Arab and Morgan Grenfell Finance said. The credit, the first raised by the EmirateReuter - 77 words
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Article41 1977-09-19 5 Reuter FRANKFURT, Sun. Dresdner Bank said the 150 million mark seven-year Eurobond for Banco Naclonal De Obras Y Servlclous of Mexico will probably carry a seven per cent coupon. The bond is guaranteed by the Mexican Government, it added. Reuter.Reuter - 41 words
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Article31 1977-09-19 5 Reuter BRUSSELS, Sun. Western Mining of Australia plans a US$4O million 15year nine per cent Eurobond, primary bond market sources said. Lead manager is S.G. Warburg, the sources added. Reuter.Reuter - 31 words
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Page 5 Advertisements
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Advertisement32 1977-09-19 5 \'N I Si w •5W «88» 1 w BALLY OF SWITZERLAND i "ft" COP--us.it MENSWEAR TAILORS A STORE OUTFITTERS HIGH ST CENTRE •OCEAN BUILDING SUPREME HOUSE GOODWOOD. HILTON. RAFFLES HOTELS COLD STORAGE32 words
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L COMPANY NEWS
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Article497 1977-09-19 6 PRIMA (Flour Mills), which owns a flour mill In Indonesia, has agreed to build a US$3O million flour mill hi Sri Lanka. The agreement was signed by Prima's chairman and managing director Mr. Cheng Tsang Man and Dr. H.A. Ounasekera, secretary to Sri497 words
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733 1977-09-19 6 THE SPEEDY recovery at Jack Chla-MPH since 1972 Is mainly due to the ability of Its new management to diversify and grow. Diversification is still the group's main forte. Within the last two years the group has more than wiped off the losses accumulated733 words
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Article390 1977-09-19 6 Current Ex Date Total for Total for payment Date payable the year previous year Alexandra Holding! 5% Sept 6 Sept 19 5% 5% C. Su(art 10% Sept 5 Sept 29 15% nil International Wood 10%TE Aug 8 Sept 30 10%TE nil Pahang Consolidated 10% Aug 3 Sept 30390 words
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COMPANY MEETINGS
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Article17 1977-09-19 6 THE following company meetings are due: Sept. 19 at the Registered Office, Batu Tlga, Selangor.17 words
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Article17 1977-09-19 6 Sept 20 at the Cempaka Room, Hotel Equatorial. Jalan Sultan Ismail, Kuala. Lumpur, Malaysia.17 words
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Article23 1977-09-19 6 Sept 21 at 10.30 a.m. at the Registered Of2°?, 12th Floor, Yee Seng Building, Jalan Raja Chuaian, Kuala Lumpur.23 words
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Article2483 1977-09-19 6 High 1977 Low Cmpaay Last Safe Weak ♦•rGr'i Div Div CvT Gr'i YH Not P/E Wwk Vol CW#> Wee* Hick Low SECTION ONE INDUSTRIALS 154 204 116 136 172 58 Acma Alcom Allied Choc 141 172 106 unch -6 12. ON 1.8 10.0 0.5 8.52,483 words
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Page 6 Advertisements
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Advertisement176 1977-09-19 6 Confront Singapore's decision makers in Business Tunes For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more.' It's people like these who176 words
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INTERNATIONAL STOCK MARKETS
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Article280 1977-09-19 7 AMSTERDAM: The market was mixed In quiet trading on Friday with Dutch Internationals firmer, dealers said. Heogovens rose one guilder and Royal Dutch rose 0.30 after announcing a higher Interim dividend. AJuo fell but Philip* and Unilever were unchanged. Elsewhere, transports were mixed. Insurances rose stronsrlv led by National*280 words
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Article163 1977-09-19 7 BRUSSELS: Prices closed mixed in quiet trading on Friday, bourse sources said. Hoboken, Wagon* Lit* and Cockerill rose but Vieille Montagne Cla bee and UCB, which announced a first 1977 half net loss, all fell. Oold mines met profit-taking and In foreign stocks UK feU while Germans and French163 words
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Article302 1977-09-19 7 FRANKFURT: Shares lost ground on profit-taking on Friday, affecting especially shares which had gained In recent days, dealers said. Trading was quiet. In autos, Daimler fell 2.50 marks and VW 1.50. Electrlcals dropped up to two marks, headed by Siemena. GHH lost 2.50 In engineerings. Deutache 1 90 and302 words
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Article160 1977-09-19 7 MILAN: Stocks firmed over a broad front on Friday and closed at the day highs In increased trading, dealers said. Recent government measures to help the economy and Investments as well as prime rate and bank rate Interest reductions spurred Interest, they added. Ercoie Mareili SPA softened, reflecting Its160 words
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Article319 1977-09-19 7 PARIS: The market eased on Friday following Thursday's sharp rise with operators more concerned by the rise In France's trade deficit and Increasing unemployment than encouraged by a possible spilt In the left-wing alliance, dealers said. Banks were mixed against the trend while the largest losses were recorded by319 words
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Article281 1977-09-19 7 ZURICH: Shares closed generally very steady In light turnover on Friday. Swissair edged higher while small gains and losses were about balanced In banks and Insurances. Financials firmed slightly led by Juvena Bearer and Participation Certificate, Pirelli and Usego. Leading industrials moved within narrow limits with BBC, Fischer and281 words
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Article393 1977-09-19 7 JOHANNESBURG: Oold shares were off the bottom on higher bullion Indications and London buying on Friday, dealers said. West Dries ahed 100 cents to 2.U00, while Randfnt lost 75 to 4,625. Ergo eased three cents to 421 and AF Lease shed 20 to 555. Mining flnanclals were quiet and393 words
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Article314 1977-09-19 7 TORONTO: Share prices closed mixed in active trading on Friday with the composite index off one point and advances leading declines 203 to 175. Pipeline and gold Issues were sharply higher but transportation and management companies fell more than eight points Gas Metro poll tain dropped 3/8 to six.314 words
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Article1203 1977-09-19 7 NEW YORK: The .stock market put on another low-key performance on Friday, but failed to extend a two-day-old rally, sending prices lower in con- tlnued sluggish trading. The decline affected all major sectors although price changes, with few exceptions, were fractional. Analysts said the caution bv investors and1,203 words
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Article61 1977-09-19 7 FINANCIAL TIMES INDUSTRIES Friday 531 Thursday 544.9 Week Ago 530.1 DOW JONE8 AVERAGE INDUSTRIALS Friday 856.81 Thursday 880.78 Week Ago 857.07 LONDON DOLLAR PREMIUM Friday #1 to 91Vi Thursday 92 to 92W H.K. HANG SENG Friday 424.62 Thursday 427.49 Week Ago 429 95 SYDNEY INDUSTRIALS Friday 374.52 Thursday Week61 words
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Article12 1977-09-19 7 THE Tokyo stock market was closed on Saturday, Sept 17. \9T112 words
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Article1232 1977-09-19 7 On Sept 16 TRADING on the Chicago Board Options Exchange came to 84,656 contracts compared with 80,377 contracts on Thursday. OPTION OCT JAN APL STOCK Alcoa 45 13/4 27/8 31/2 45 5/8 Alcoa SO 3/16 15/16 UNTRD 45 5/8 Alcoa ao UNTRD UNTRD UNTRD 45 5/8 Am1,232 words
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Article396 1977-09-19 7 NYT BALTIMORE: The pricefixing trial of six Montgomery county real estate companies and three of their presidents has reached Its half-way point, with defence lawyers contending that a key government witness changed his story overnight. The companies, among the largest operating in the Maryland subvrbsNYT - 396 words
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Article334 1977-09-19 7 UPI AP THE New York stock market, beset by an uncertain economic outlook and rising Interest rates, went nowhere last week. Trading was the slowest In five months. The Dow Jones industrial average, a 15.24-polnt loser last week, slipped another 0.26 point to 856.81, holding JustUPI; AP - 334 words
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Article354 1977-09-19 7 SHARE PRICES edged up In moderate trading on the Tokyo Stock Exchange In the last holiday shortened four-day week. The market was closed on Thursday, a national holiday, and Saturday. The Dow-Jones average of 225 selected stocks, which had lost 53.28 yen the Erevlous week, regained354 words
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Page 7 Advertisements
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Advertisement481 1977-09-19 7 BUSINESS TIMES Airline Directory AmHot Soviet Airlines 110-112 Shew Contra, Orchard Rood, (Tat: 377.111) Air Coy ion 302-B, 3rd Floor, Marina Homo S Hon ton Way, Singapore (1) (Tol: ******9) Ground Floor, ICB Bwildina, Shanton Way Singapore 1 (Tol: *****11) 14th Floor, UIC Building, Shenton Way, Singapore 1 (Tol: 2205.277)481 words
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COMMODITY REPORTS AND PRICES
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Article192 1977-09-19 8 LONDON, Sun. Rubber futures finished the day about 0.40 pence per kilo lower to unchanged on Friday. The official tone was slightly steadier. Turnover totalled 458 lots comprising nine lots of five tonnes and 449 lots of 15 tonnes Including 16 options. The market recovered slightly from192 words
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Article45 1977-09-19 8 Sept 12 Sept 13 Sept 14 Sept 15 Sept 16 Tin $1,636 $1,603 $1,625 closed closed Tonne 186 280 193 closed closed Rubber (S) 213.00 217.00 215.75 closed closed Rubber (M) 214.00 217.25 216.50 closed t closed cents per kilo per picul45 words
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Article237 1977-09-19 8 THE Straits tin price In Penang on Saturday was up $27.00 to $1,652 on an official offering up 72 tonnes to 265 tonnes. In LONDON on Friday, tin rose by £77 for Cash and £67 for Three Months Standard while high grade gained £95 and £70 respectively. Trading237 words
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Article147 1977-09-19 8 CHINESE PRODUCE EXCHANGE. Coffee: AP 1 f ob *500 sellers, AP SINGAPORE NOON CLOSING 2 f.o.b. $480 sellers, EK. 1 f.o.b. $480 PRICES PER PICUL YESTERDAY. sellers. Lampong Robust* 20/ 25% f.o.b. "Coconut Oil: Bulk $75 sellers, old 1390 sellers. Nutmeg 110's $350 sellers, drum $80 sellers, new147 words
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Article82 1977-09-19 8 C.I.F. Rotterdam prices quoted In London on Friday In US dollars per ton Friday Prev. Malaysia 5% f fa bulk Nov Sumatra 5% »Sept Oct Nov Dec Jan Mch Nigeria 5% ffa bulk sterling per long ton ROTTERDAM: Sumatra Oct Zaire Belg francs per kilo unq 520 sir82 words
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Article285 1977-09-19 8 LONDON, Sun. Copper wlrebars on the day gained £6.50 for Cash and £6 for Three Months on Friday. The market continued to move ahead on end-week bear covering and some fresh buying prompted by the trend In US futures and some physical demand, dealers said. Three Months traded upto285 words
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Article46 1977-09-19 8 LONDON, Sun. Lead gained £0.50 for Cash and £1.75 for Three Months on Friday. The market attracted short-covering and chart buying which pushed Three Months upto £336.50 In the ring and to £338 on the kerb before proflttaklng pared the advance. Sales were 1350 tonnes.46 words
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Article47 1977-09-19 8 LONDON, Sun. Zinc rose by £1.50 for Cash and £0.50 for Three Months on Friday. This metal moved sympathetically higher with late covering resulting in kerb business upto £304 for Three Months prior to final trade at £302 following small profit taking. Sales were 850 tonnes.47 words
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Article384 1977-09-19 8 BANGKOK, Sun. Very little was reported in the rice market during the week with no trading either on a government or commercial basis, trade sources said. The authorities are tightening their control over the rice export trade, they said. The latest regulation stipulated any quantity of rice to be384 words
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Article362 1977-09-19 8 FOLLOWING the firmer closing In New York on Friday, the kllobar market in Singapore opened higher at $11,784 and eased off slightly to close at $11,776 in quiet trading on Saturday. In the London market the metal opened at U*****.80/ 149.00 and closed 10 cents lower at $148.70/90. Source:362 words
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Article233 1977-09-19 8 LONDON, Sun. Silver closed with gains of 1.7 to 1.9 pence on Friday. The continued buoyancy of gold and the movement at New York brought late covering and fresh buying into the market which pushed Three Months upto 262.3 pence in the ring and to 262.6 pence on the233 words
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Article186 1977-09-19 8 LONDON, Sun. Coffee prices finished the morning about steady on Friday with a low turnover of 673 lots which included seven options. In NEW YORK on Friday, coffee futures traded on moderately lower ground for the most part to end steady at losses of 0.28 to 1.00 cent on186 words
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Article143 1977-09-19 8 LONDON, Sun. Sugar futures closed 55 points higher to 1.30 lower on a volume of 2365 lots Including 90 options on Friday. Gains came In the near positions while trade selling reduced the premiums for distant contracts, dealers noted. Some trade sources said the steadier closing tone which brought143 words
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Article84 1977-09-19 8 CHICAGO, Sun. Wheat futures prices changed little during the session and closed cent a bushel higher to unchanged on Friday. Trading was light and the lack of stength In soybean futures Influenced some selling In wheat but commercial buying, although not on a large-scale, helped support the market. Com84 words
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Article94 1977-09-19 8 CHICAGO. Sun. Soybean futures closed easier on Friday, after trading to either side of Thursday's close. The September was down 4* cents a bushel and other months were off Vi to two cents. The market derived early support from the possible harvesting delays because of the moisture forecast for94 words
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739 1977-09-19 8 THE behaviour of the Singapore produce market last week was all but predictable. In the circumstances, dealers here were hampered In their attempts to clinch deals overseas. Handicapped as they have beeen by the irregularity of supplies from their biggest nearby source. Indonesia,739 words
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Article213 1977-09-19 8 LONDON, Sun. Cocoa futures ended barely steady and £14.5 to £56 down on the day but off the lows touched In late afternoon following the decline In New York and news of lower US confectionery sales In July, dealers said on Friday. Preweekend covering supported futures at the close.213 words
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MONEY AND EXCHANGES
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Article166 1977-09-19 8 THE US unit showed a firm tendency and opened at $2.4470-80 in the Singapore forex market last week following a rise in the US Ml and M 3 money supply and higher Eurodollar rates. During the rest of the week, trading was held within a very narrow range as166 words
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Article43 1977-09-19 8 ACBC at. Alcemene Bank Bangkok Bank 7 HSBC m Bank of America IS Indotuez c>. Bank of China 7 CI. Bank of Tokyo Bank Nefara OCBC Indonesia 7 OL'B •'< Chartered Bank UCB 7 Chaae Manhattan UMBC 7 DBS I'OB C>.43 words
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Article342 1977-09-19 8 Source: Discount Company of Singapore. THE government bond Issue on Sept. 14 was again an overwhelming success. The total application amounted to 1671 million against an issue of $500 million. Bidding was aggressive particularly for the 3-year Issue. The average prices bid were $99-92 per $100-00 which willSource: Discount Company of Singapore. - 342 words
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Article223 1977-09-19 8 Asian rates THE US dollar deposit rates firmed during the Initial period of the week but eased on Friday when US money supply showed a decline of $800 million In Ml and marginal Increase of $200 In M 2. Short dates closed at 6H-K; and threes and sixes eased to223 words
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Article502 1977-09-19 8 Source: Swiss Bank Corporation Zurich. ZURICH, Sun. After the FED had let the FED funds rate climb up to 6% per cent and the Chase Manhattan Bank hiked Its prime rate by per cent to 7K per cent, Interest rates In the US now seem to have stabilised. TheSource: Swiss Bank Corporation Zurich. - 502 words
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Article233 1977-09-19 8 NEW YORK, Sun. The dollar closed slightly stronger against major currencies in quiet and featureless trading, dealers said on Friday. The latest round of quar-ter-point prime rate Increases by many of the large US banks, following Chase Manhattan's move earlier this week, was anticipated and had little effect233 words
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Article94 1977-09-19 8 RATES opened firm last week as dealers anticipated a tight market. However they were still caught on Friday with a shortage of hinds after the Bond Issue. Overnight rate hit 30 percent last Friday at the close. This shortage was attributed to firstly, the vast amount of funds94 words
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Article38 1977-09-19 8 FOR the week ended Friday Sept 16 the range of call rates received from Short Deposits (M) Berhad was as BANK FUND 3** to 4*H GENERAL FUNDS 3Vfc% to Movement of funds totalled $471 million.38 words
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Article222 1977-09-19 8 LONDON, Sun. Sterling slipped towards the close to U551.7427/29 extending Its downward drift from the opening indication of $1.7438/40, as profit-taking believed to emanate chiefly from Europe set In, dealers said on Friday. Operators reported endweek unwinding of positions taken up In sterling when It was at the $1.7410222 words
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Article31 1977-09-19 8 FRANKFURT exchanges closing quotes on 16.9.77 US 2.3260/70 Can 2.1645/65 UK 4.052/058 Neth 94.40/46 Swltz 97.57/67 Italy 2.625/633 France 47.12/22 Japan .0.8706/16 Belg com 6.49/50 Belg fin 6.48/49 Norw 42.50/6031 words
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Article166 1977-09-19 8 Euro rates LONDON, Sun. Eurodollar deposit rates closed little changed from openings after minimal rate movements In usual quiet pre-weekend conditions, dealers said on Friday. Shortdates saw moderate activity earlier due to some operators turning funds over through the day to day sector rather than open new positions In periods166 words
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Page 8 Advertisements
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Advertisement116 1977-09-19 8 Don't let the language barrier stop you from wider iPJ <(» contacts I <vj T s~ Pi >/° ,> 9 k^-s^v i YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at home, while travelling in fact anywhere and any time that suits you. Possess ing a second or third language116 words
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Article, Illustration826 1977-09-19 9 JONATHAN HUNT - By JONATHAN HUNT The Observer LONDON, Sun. The Minstrel, winner of both this year's Epsom and Irish Derbies and other Classic horse races as well, officially retired from the track last week. But when he starts his new career at stud, he will stillThe Observer - 826 words
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Article, Illustration815 1977-09-19 9 NYT NEW YORK, Sun. Tom Sneva says he drove conservatively for several races to wrap up the United States Auto Club National Championship, and now that he has the title In hand, he would like to change tactics for "the remaining two races.NYT - 815 words
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Article, Illustration657 1977-09-19 9 ERNEST FRIDA - By ERNEST FRIDA YOUNG Jeffrey Bose was Seletar Golf Club's hero in the SGA Premier league yesterday. He shot a magnificent four over par 72 to help his club beat Jurong Country Club by 19 strokes at the Seletar Course. It was easily one657 words
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Article, Illustration1970 1977-09-19 9 STUART ALEXANDER - US STILL TO LOSE By STUART ALEXANDER FT "GIVE ME 'Courageous' and I will beat anyone In the world." Ted Turner, the bright, brash young man of big-time American sailing was talking after his humiliating defeat In the trials to select the defender ofFT - 1,970 words
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Article161 1977-09-19 9 AFP LONDON, Sun. Tommy Docherty, sacked two months ago as manager of Manchester United, has bounced back into the big time in Englsh league football as the new boss of struggling first-division Derby County. News of the appointment was released Immediately after Derby's 2-2 home draw againstAFP - 161 words
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Article378 1977-09-19 9 Reuter NEWPORT, Sun. American yacht Courageous today moved within one victory of successfully defending the America's Cup with another success against Australia. Courageous, skippered by Ted Turner, won the third race by two minutes 32 seconds over the 24.3 mile course on Rhode Island Sound toReuter - 378 words
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Page 9 Advertisements
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Advertisement158 1977-09-19 9 The new Christy Beaufort FP riding cap incorporates a specially designed flexible peak which enhances, even further, the safety and protection given by our cap. As you would expect it is fully approved and endorsed by The British Horse Society and Pony Club, and more than meets the new British158 words
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271 1977-09-19 10 Reuter UNITED NATIONS, Sun. Rich and poor United Nations member states failed to agree over the weekend on a resolution on the world economic situation, causing a second postponement of a scheduled special Generah Assembly session. The meeting will resume tomorrow butReuter - 271 words
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180 1977-09-19 10 THE People's Association has embarked on a recruitement drive for editorial staff for its publications in line with its recent decision to revamp its organisational structure. The association has advertised for a chief editor who is expected to oversee its monthly English publication The Citizen,180 words
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Article73 1977-09-19 10 AFP WASHINGTON. Sun. Cuban President Fidel Castro flatly turned down the idea of paying any compensation for the US$2,OOO million (554.900 million) worth of American-owned property expropriated at the start of the Cuban revolution. Dr. Castro said that in the course of 18 years of hostility, aggression,AFP - 73 words
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Article, Illustration817 1977-09-19 10 ASEAN and West Asia are two market areas which offer the greatest potential for Singapore shipyards In the future. This latest assessment of business prospects for Singapore's shipyards was given by Mr. Chua Chor Teck, president of the Singapore Association of Shipbuilders and817 words
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Article, Illustration961 1977-09-19 10 MALAYSIAN Airlines System, contrary to disappointing mid-financlal year indications, has pulled up its socks to make a profit, albeit a small one, for the financial year ending March 1977. This was disclosed to the magazine Malaysian Business, by Raja Tan Sri Mohar. chairman961 words
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Article125 1977-09-19 10 LONDON. Sun. Malaysia will host an Asian ministerial meeting on national communications policies organised by Unesco in Kuala Lumpur next year. Information Minister Datuk Amar Taib Mahmud, who is here to meet press, television and radio representatives, leaves for Paris today to make arrangements with125 words
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Article128 1977-09-19 10 UPI Reuter DAR-ES-SALAAM. Tanzania has banned gold prospecting in the Lake Victoria mineral region after thousands of people set up camp to work disused mines. The government was reported to be concerned that the illegal prospectors, who came from as far away as Kenya, ZaireUPI; Reuter - 128 words
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334 1977-09-19 10 WITH the shipbuilding and shlprepalrlng business going the way it Is, one would expect an advertisement for a slipway to be flooded with eager responses from potential sellers or lessors. But Mr. J.K. Goh, managing director of J.K. Pte. Ltd., is perplexed by the334 words
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Article238 1977-09-19 10 Reuter LONDON, Sun. Norway has switched some 20 per cent of its new shipbuilding capacity to offshore equipment work In the past eight months, Under Secretary of State for Trade and Shipping, Mr. Per Martin Oelberg, said. The change has been helped by a 500 millionReuter - 238 words
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Article129 1977-09-19 10 AFP TOKYO, Sun. There was a 14.4 per cent rise In Japanese textile exports last month, bu Imports of textile raw materials declined sharply by 17.9 per cent compared with a year ago. Statistics released yesterday by the Finance Ministry showed that Japan exported textile goodsAFP - 129 words
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444 1977-09-19 10 AP NEW YORK, Sun. Trade relations between the United States and Japan have Increasingly taken on an ominous tone of confrontation, a speaker warned on Friday at a conference on education and training of Americans for business relations with Japan. This Is taking place InAP - 444 words
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Article57 1977-09-19 10 AFP TOKYO. Sun. The average Income of Japan's salaried-worker households totalled 339,999 yen (553.118.85) in July, up 11.1 per cent over a year earlier, the Prime Minister's Office reports. The figure represented a 3.2 per cent Increase in real terms from July 1976, because consumer prices rose 7.7AFP - 57 words
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Article23 1977-09-19 10 Reuter OTTAWA, Sun. Jean Chretien was appointed Canadian Finance Minister by Prime Minister Trudeau, replacing retiring Finance Minister Donald MacDonald. Reuter.Reuter - 23 words
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Article547 1977-09-19 10 ARRIVALS •ervice Local Operator Num ber Time From CPA CX003 0145 HKG SAS SK097 0640 CPH/THR/BKK MAS MH682 0810 KCH CPA CX710 1000 HLP GIA GA980 1030 HLP THAI TG423 1035 BKK SIA SQ211 1045 HLP OIA GA944 1055 PKU GIA GA908 1100 MES PAL PR501 1115547 words
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Article218 1977-09-19 10 AP HONGKONG, Sun. China Is continuing Its shipbuying programme and has purchased about 30 vessels, many of them bulk carriers, In the last two months. Informed Hongkong trade sources said yesterday. The sources said China Is buying ships to meet development needs and which may alsoAP - 218 words
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Advertisement199 1977-09-19 10 Let's Talk About Accounts Receivable Loan and Factoring We are pleased to announce that Heller, in adding more flexibility to its existing factoring service, is now providing also Accounts Receivable Financing. This means that there are now 2 ways Heller can increase the flow of cash intoj your business through199 words