The Business Times, 17 October 1977
1977-10-17
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The Business Times
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Title Section9 1977-10-17 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, OCTOBER 17, 1977 50CENTS9 words
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WORLD IN BRIEF
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Article97 1977-10-17 1 Reuter TEL AVIV, Sun. The newspaper Haaretz said today that Israel and the United States had secretly agreed that the Palestine Liberation Organisation (PLO) would not be represented at the Oeneva peace conference and that the Issue of a Palestinian state would not be negotiated. The newspaper'sReuter - 97 words
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Article77 1977-10-17 1 Reuter CANBERRA, Sun. Prime Minister Malcolm Fraser appeared In a firm position tonight to call a pre-Chrlstlmas general election after gaining support of Liberal Party leaders for an early poll. Although Mr. Fraser remained tight-lipped In the midst of feverish election speculation senior Liberal officials from stateReuter - 77 words
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Article56 1977-10-17 1 KUALA LUMPUR, Sun. More than 600 people from the rubber industry will participate In the Rubber Research Institute of Malaysia planters' conference to be held from Oct 17 to 19 here. The conference, marking the 100 th year of rubber planting In Malaysia, will be opened by the56 words
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Article82 1977-10-17 1 AFP JAKARTA, Sun. A former Member of Parliament and university professor was sentenced to 18 months Imprisonment after he was convicted of fraud involving the production of a large number of ballot boxes to be used In last May's general elections, Antara news agency reported today. TheAFP - 82 words
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Article66 1977-10-17 1 AP MOSCOW, Sun. The Soviet Union said today there has been a "drawing together" of US and Soviet positions In the attempt to reach a new strategic arms limitation (SALT) agreement. The newspaper'Pravda spoke with approval of US President Carter's Oct 4 speech at the United Nations, InAP - 66 words
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Article54 1977-10-17 1 AFP PEKINO, Sun. West Oerman Foreign Minister Hans-Dletrlch Genscher left China last night after a three-day official visit to Peking and a one-day stop In Shanghai. Yesterday, Mr. Genscher was shown around Shanghai and visited a people's commune nearby. A banquet was given for him by theAFP - 54 words
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Article48 1977-10-17 1 AFP TEHERAN, Sun. France today signed a 15-year contract to sell two nuclear power plants and enriched uranium fuel to Iran. The contract, worth US$3 billion (557.4 billion), was signed here In the presence of French acting finance minister Robert Xoulln who flew here yesterday. AFP.AFP - 48 words
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Article46 1977-10-17 1 AFP HONGKONG, Sun. A high-level delegation from the Vietnam Bank for Foreign Trade (Vletcombank) is believed to have arranged lines of credit amounting to HK$5O million (Ss26 million) from banks in Hongkong, the local Bank of America reported In its latest Indochina newsletter. AFPAFP - 46 words
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Article79 1977-10-17 1 UPI BANGKOK, Sun. The supreme Commander of the armed forces, General Krlangsak Chammand, said today Thailand will "once and for all" wipe out Cambodian Infiltration routes Into Thailand at the scene of attacks last week on the frontier between the two countries. The general's announcement was broadcastUPI - 79 words
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Article115 1977-10-17 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. Company Turnover Price# High Low '000 Oct 14 1977115 words
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LOCAL STOCK INDICES
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Article73 1977-10-17 1 Oct 10 Oct 11 Oct 12 Oct 11 Oct 14 ++BT Index: 421.40 416.35 417.56 419.68 418.28 Industrials: 280.89 260.46 260.18 260.39 386.96 Finance: 430.70 428.80 429.28 428.99 428.14 t Hotels: 170.86 170.89 171.03 171.28 171.39 Properties: 163.42 161.86 162.37 162.80 162.68 •f Tins: 137.65 137.99 138.66 139.21 139.8073 words
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Article80 1977-10-17 1 Oct It Oct 11 Oct 12 Oct 13 Oct 14 ++BT Index: 480.74 477.81 479.48 481 .S3 480.98 Industrials: 286.31 285.77 28S.82 283.89 283.64 Finance: 374.30 372.48 373.11 371.03 368.43 Hotels: 174.71 174.71 178.00 176.13 176.83 Properties: 130.07 149.00 148.76 149.11 149.01 Tins: 138.81 139.13 140.07 140.00 140.57 rubbers:80 words
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Article, Illustration1176 1977-10-17 1 RONNIE LIM - NEW HOTELS MUSHROOMING By RONNIE LIM THE SINGAPORE hotel Industry Is currently on the upswing but the question Is: How long will this last? For the strong recovery has led to a sudden surge In new hotel building activities. This has led to fears1,176 words
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Article, Illustration587 1977-10-17 1 A TOP banker, Mr. Edward de Jong, has predicted that the Asian dollar market will see "a more steadier growth" than the Euro-dollar market In the years ahead. Because of its huge size and high level of activity, the Euro-dollar market Is "more volatile587 words
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Article282 1977-10-17 1 MR. LEE Kuan Yew Is now In. Brussels for a two-day visit during which he will hold discussions on problems of trade with high officials of the European Economic Community. He will meet the EEC president, Mr. Roy Jenkins and the vice-president, Mr. Wllhelm282 words
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282 1977-10-17 1 Reuter KUALA LUMPUR, Sua. The Malaysian government la expected to announce substantial increases In expenditure, particularly for economic development, in the I*7B budget to be presented to Parliament later this month, officials •aid. The record spending budget would be formulated to play an anReuter - 282 words
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645 1977-10-17 1 AFP Reuter TOKYO, Sun. Japanese monetary authorities are ready to defend the Japanese currency at the 250 yen-to-the dollar level 'at any price,'' according to officials. Government and Bank of Japan leaders have decided to counter possible huge speculative buying of the yenAFP; Reuter - 645 words
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Page 1 Advertisements
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Advertisement48 1977-10-17 1 r Ricoh] for plain paper copying *****33 Wywy Private Limited KV responsible eompmy 39th Floor Hong Leong Building Singapore 1. SEE BACK PAGE LeisurWTV ft- Local Co. Newt Radio/Oomwords PI Overseas Market leisure P3 Commodities Features P4 Sports laternational Co. News/ Local ft Overseas Overseas News PS News48 words
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Advertisement34 1977-10-17 1 Whatis Captive Insurance? Whatis Risk Management? Find out in Hong Kong at the CAPTIVE INSURANCE COMPANIES CONFERENCE MONDAY, NOVEMBER 28 TO WEDNESDAY, NOVEMBER 30 INCLUSIVE. Sheraton Hotel, Hong Kong Hono Kong OMc« Room 904,34 words
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Advertisement0 1977-10-17 1 {>.;|-$^~$)=:_+<<}_\}|<+^&']<&!0 words
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Advertisement240 1977-10-17 1 Replace your woods with /vnA&e/xA. BOMBSHELLS with Cordless Rename Control. bp performance n the palm of Beomaster 2400 is the most convenient stereo receiver to use. Armed with the cordless remote control module you can control volume, select programme source (any of 5 preset RM stations and gram), and switch240 words
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Article576 1977-10-17 2 THE recent withdrawal of the price rise proposed for soft drinks was generally accepted as a triumph of consumerism over the predatory and inflationary grasping of the big bottlers. However, the publication last week of Fraser and Neave's rationale for having proposed an Increase In the576 words
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REVIEWS
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1466 1977-10-17 2 HAROLD SCHONBERG - By HAROLD SCHONBERG NYT NEW YORK: When the Metropolitan Opera brought back Puccini's "La Fanciulla del West" "The Girl of the Golden West" to open its 196 i 62 season, this column wondered if the time was ripe for the opera to capture theNYT - 1,466 words
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Article956 1977-10-17 2 RAFELA SEPPALA - By RAFELA SEPPALA UPI BOUGIVAL, (France): He Is diminutive, gentle and slow-speaking, carefully weighing his words. Yet many art critics consider Pierre Alechlnsky one of the strongest, most vehement, inventive painters in Europe. The fact is that Alechlnsky's work has earned him the first US$5O,OOOUPI - 956 words
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Article615 1977-10-17 2 By CKT ESPECIALLY of late, brickbats are freely hurled at sound engineers for recording orchestras in certain perspectives which may be unrelated to anything heard in the concert hall. But boring be the day when the brlckbat-hlt and all decide on a common blueprint. It isBy CKT - 615 words
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Article, Illustration773 1977-10-17 3 LEWIS HYDE - By LEWIS HYDE NYT BOSTON: Vicente Aleixandre, who has been awarded the 1977 Nobel Prize for literature, is one of the Spanish poets who, early In this century, began the work that has become the most fruitful current in modern poetry: theyNYT - 773 words
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Article902 1977-10-17 3 CHRISTOPHER LEHMANN-HAUPT - By CHRISTOPHER LEHMANN-HAUPT NYT The People Shapers By Vance Packard. 398 pages. Little, Brown. US$l2. SO. I DROPPED Into Vance Packard's world the other day to see what he Is viewing with alarm this year. I found the famous trendspotter in a brown study with aNYT - 902 words
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Article, Illustration717 1977-10-17 3 PAUL GRIMES - By PAUL GRIMES NYT An Inheritance. The Memoirs of Dhanxxinthi Rama Rau. Bp Dhanvanthi Rama Rau. 305 pages. Photographs. Harper and Row, USSIS. LIKE any country, the real India Is only as real as the people In it. But the Indians. unlike the peopleNYT - 717 words
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Article, Illustration822 1977-10-17 3 HERBERT MITGANG - t BOOKS 1 By HERBERT MITGANG NYT FRANKFURT: Two controversial and unusual book properties surfacing at the international book fair here are both highly charged political documents one factual, the other fictional about the Soviet Union and China. Because both are as yet untranslated intoNYT - 822 words
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Page 2 Advertisements
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Advertisement158 1977-10-17 2 no need to call Paris in order to know all about INTERNATIONAL EXHIBITIONS FRANCE/1978 Merely call the PROMOSALONS office in Singapore (address or send the coupon below to And out: the exhibition which will be moet useful to you, e who is exhibiting and what is exhibited, e when and158 words
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Page 2 Miscellaneous
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Miscellaneous52 1977-10-17 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 pm on Oct 16 at Singapore airport. Maximum Temperature 31.7° C Associated Humidity 61 Minimum Temperature 23.3° C Associated Humidity 98 Hours of Sunshine 9.75 Rainfall in Millimetres Nil Total Rainfall for the Month 49.7 Total Rainy Days for the52 words
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Miscellaneous272 1977-10-17 2 SINGAPORE 5 3.00 PM Opening Announcements followed by valar Pirai (TamilRepeat) 3.30 Diary Of Events (Tamil) 3.35 Afternoon Matinee Black City (pt. 1) Starring: Ernest Borgnine, Keenan Wynn, David Opatoshu 4.30 Intermission 6.00 Opening announcements followed by Inquiry What Is Politics? 6.30 News in Brief 6.35 Marine Boy 7.00 World272 words
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Miscellaneous442 1977-10-17 2 TWO-IN-ONE CROSSWORD :hk.i CRYPTIC PUZZLE ACROSS 4 Breezy fellow In blue? (6) 7 Support for unofficial detectives, etc (8) 8 Tired of being a dwarf (6) 10 Strange weeds In the vegetable garden (5) 13 As shot In the cellar? (4) 14 Thanks again for the plant (4) 15 A442 words
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Page 3 Advertisements
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Advertisement236 1977-10-17 3 m V k '*A 'A X &<■- 3 *v. -V.^ How Eteta General ccmputers heIpS.L.S. Bearings to handle increased business. S.L.S. Bearings wants to do more business. But that entails carrying more stock, with the inherent problems of maintaining proper stock levels and keeping track of stock movements. The solution236 words
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Page 3 Miscellaneous
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Miscellaneous8 1977-10-17 3 BriStoV» r Dicxacs WV--W--trkes oe to veto*) one8 words
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Article3201 1977-10-17 4 Awther Singh; Gan Tin Hua - This is the first of a two-part article by Gan Tin Hua and Awther Singh on the accountancy profession in Singapore. The second part will be published tomorrow. The views expressed here are the private views of the writers. Awther Singh Gan Tin Hua Messrs. Gan3,201 words
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Article, Illustration1567 1977-10-17 4 GERARD LOUGHRAN - By GERARD LOUGHRAN UPI NEW YORK, Sun. Despite Inflation, economic decline and the advance of glass and concrete skyscrapers, the grand hotel Is as grand as ever. And full and flourishing and profitable. A UPI survey of many of the world's greatUPI - 1,567 words
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Page 4 Advertisements
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Advertisement210 1977-10-17 4 PRESSMEN-OR YESMEN? This is a question often asked about the Singapore journalist. Another questio.n is: How controlled is the Singapore press? New Directions quarterly discusses questions such as these in its September issue now on VOt«NO_3 l mm SEPTEMBER .oaawuj»| v //y S vVii I > gpgtiV&*C*fHE PRESS KTB-Tr«W<* This210 words
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INTERNATIONAL COMPANY NEWS
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230 1977-10-17 5 Reuter TOKYO, Sun. Toyota Motor Co and Nissan Motor Co reported sharp increases in their September exports, up 26.4 per cent to 116,354 and up 38.9 per cent to 133,389 over a year ago respectively. Toyota's September exports were also up 21.8 per centReuter - 230 words
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Article107 1977-10-17 5 Reuter LOS ANGELES, Sun. Pacific Gas and Electric Co and Southern California Gas Co said they filed with the California Public Utilities Commission an application to construct a liquefied natural gas receiving terminal costing US$632 million near Point Conception, California. The application was filed by WesteynReuter - 107 words
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Article123 1977-10-17 5 Reuter CALGARY, Sun. Hudbay Oil (Indonesia), a whollyowned subsidiary of Hudson's Bay Oil and Gas Co and Marathon Petroleum Indonesia said they increased their participation in a production sharing contract covering 1.3 million acres near Natuna Island, off Indonesia in the South China Sea. They said theyReuter - 123 words
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590 1977-10-17 5 Reuter CANBERRA, Sun. The Australian Government approved the proposal by Conzinc Riotinto of Australia (CRA) to acquire up to 50 per cent of the isfued capital of Coal and Allied Industries (CAI), Treasurer Phillip Lynch and National Resources Minister Doug AnthonyReuter - 590 words
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Article81 1977-10-17 5 Reuter WASHINGTON, Sun. The US Council on Wage and Price Stability estimates American Telephone and Telegraph's (ATT) new labour contract will raise unit costs 6.! per cent over the next three years. The council qualified its estimate, saying inflation and productivity trends will affect company costs. TheReuter - 81 words
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146 1977-10-17 5 Reuter LONDON. Sun. Lucas Industries chairman Bernard Scott said capital spending in the current business year on expansion and modernisation of existing business will exceed the £112 million spend in the year ended July 31. He said after a press luncheon that 75Reuter - 146 words
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Article90 1977-10-17 5 Reuter FRANKFURT, Sun. Karstadt Ag now holds a majority stake In the 122.4 million mark capital of Neckermann Versand Ag. the official gazette said. Karstadt controls 25 per cent of Neckermann directly and has a five-year option on a further 26.1 per cent held by a banking consortlumReuter - 90 words
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380 1977-10-17 5 FT LONDON, Sun. Thorn Electrical Industries' shares are to be quoted on the German, French and Dutch stock exchanges by the end of this month. The listings will provide a base for the group's plans to strengthen Its European operations, which lastFT - 380 words
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Article198 1977-10-17 5 Reuter LONDON. Sun. Shop stewards representing 57,000 hourly paid employees of Ford Motor Co decided they are unable to recommend acceptance of the company's average 12 per cent pay rise offer. Transport and General Workers Union general secretary-elect Moss Evans said. Mass meetings of theReuter - 198 words
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Article81 1977-10-17 5 Reuter LUXEMBOURG, Sun. The Eurex Eurobond computer-assisted trading and Information system has so far attracted subscriptions from more than 30 banks and financial institutions from seven countries, a spokesman for Eurex said. Subscribers from Luxembourg, Belgium, the Netherlands. Italy, France, Switzerland and the UK haveReuter - 81 words
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Article52 1977-10-17 5 Reuter TOKYO. Sun. Tokyo Shibaura Electric Co (Toshiba) said it will issue a US$5O million 15-year convertible bond in the European Market next month through an underwriting syndicate led by Smith Barney Harris Upham and Co Inc and Nomura Europa NV. The bonds will be listed In Luxembourg, ToshibaReuter - 52 words
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169 1977-10-17 5 Reuter MILAN, Sun. Montefibre SPA said its financial position has worsened since end June and it urgently needs to leave loss-making activities and reduce its labour force. The company said It will hold a shareholders meeting soon to discuss what action to take in theReuter - 169 words
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Article65 1977-10-17 5 Reuter LOS ANGELES, Sun. Coca-Cola Bottling Co of Los Angeles said It has filed an amended suit against MCA Inc In the Federal District Court alleging MCA's tender offer for its share violates the federal communications act, federal securities laws and common law. The company said theReuter - 65 words
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OVERSEAS
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298 1977-10-17 5 Reuter AP WASHINGTON. Sun. President Carter says he has no inclination to get involved in a steel strike in northern Minnesota and northern Michigan, where some 20.000 workers have been idled for three months. "I believe that it is better for us not toReuter; AP - 298 words
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Article595 1977-10-17 5 ARRIVALS Service Local Operator Number 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 GIA GA944 1055 PKU GIA GA908 1100 MES PAL PR501 1115 MNL595 words
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466 1977-10-17 5 AP NEW YORK. Sun. The major oil firms, accused of "potential war profiteering" by President Carter, are fighting back with statistics that show most of their money is used in the search for fuel. "What he failed to acknowledge Is that profits certainlyAP - 466 words
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Article55 1977-10-17 5 Reuter NEW YORK. Sun. Citibank said it will hold its floating prime rate unchanged at 7v, per cent for this week. The bank raised its rate to the current 7V» per cent from on Oct 7. The rate is calculated on the basis of the three-weekReuter - 55 words
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271 1977-10-17 5 AP NEW ORLEANS, Sun. Defiant US longshoremen were ordered by union officials yesterday to begin loading and unloading conventional cargo ship* and end the general strike that has closed the port of New Orleans for two weeks. The strike, which has continued despite ordersAP - 271 words
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Article314 1977-10-17 5 AP WASHINGTON. Sun. The US Agriculture Department has announced more details of a complex plan to slow down the rapid growth of the huge United States wheat stockpile next year. The plan Includes tough proposals for getting American farmers to comply with the newAP - 314 words
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680 1977-10-17 5 NYT UNITED NATIONS. Sun. Newly announced Swedish and Canadian plans to cancel nearly a half billion dollars in debts owed by Third World governments have, diplomas here believe, put into sharper focus the often bitter debate on economic Issues between industrialised and developing countries.NYT - 680 words
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Article54 1977-10-17 5 WASHINGTON, Sun. The House completed congressional action on legislation to allow contracts linking pavments to the value of gold and send the bill to President Carter for signature. The provision on gold was contained in a bill authorising the US Treasury to invest its operating cash for54 words
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Page 5 Advertisements
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Advertisement191 1977-10-17 5 THE SGV GROUP Management Consulting Services SGV-GOH TAN PTE. LTD. Conference Series on Business Management CREDIT LENDING SEMINAR This seminer has bMn dnignid to provide sound, organised and inttymd apptOMh to credit landing. The wiom will be heevity case-oriented to simulate practical situations covering evaluation of short-term end long-term loens,191 words
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COMPANY NEWS
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620 1977-10-17 6 GUINNESS Malaysia which brews and bottles the famous stout at Its plant in Sungel Way, saw sales bubbling over the $100 million mark in Its last financial year to net the company a record group pre-tax profit of M 515.35 million. The620 words
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393 1977-10-17 6 TEMENGGONG Securities is likely to reveal the terms of the proposed takeover offer by Bowater Corporation for the rest of its shares by the end of this week. This is the indication given by the managing director, Mr. Lan Spence in response393 words
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COMPANY MEETINGS
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Article30 1977-10-17 6 THE following company meetings are due: Oct. 17 at 11.00 a.m. at the Registered Office, 12th floor, Fltzpatrick "s Building, 86 Jalan Raja Chulan, Kuala Lumpur.30 words
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Article20 1977-10-17 6 Oct 21 at 12.15 p.m. at the Registered Office, Chartered Bank Chambers, Pen an r.20 words
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Article15 1977-10-17 6 Oct 24 at 11.00 a.m. at the Registered Office, 15, Claymore Drive, Singapore.15 words
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Article24 1977-10-17 6 Oct 24 at 3.00 p.m. at the Registered Office, Lot 6.08 C, 6th Floor, Wlsma Central, Jalan Ampang, Kuala Lumpur 04-07.24 words
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Article19 1977-10-17 6 Oct 24 at 2.30 p.m. at the Registered Office, 16, Jalan Tangsl, Kuala Lumpur 10-01.19 words
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Article14 1977-10-17 6 Oct 26 at 12.00 noon at 45-47 Robinson Road, Singapore, 1.14 words
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23 1977-10-17 6 Oct 26 at 3.00 p.m. at the 4th Floor, Bangunan Yee Seng, 15, Jalan Raja Chulan, Kuala Lumpur.23 words
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Article21 1977-10-17 6 Oct 26 at 3.00 p.m. at the Registered Office, No. 50 Jalan Ampang, Kuala Lumpur. i21 words
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Article22 1977-10-17 6 Ltd: Oct 27 at 10.00 a.m. at Hotel Merlin Kuala LumEur. No. 2 Jalan Sultan small, Kuala Lumpur 0404.22 words
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Article21 1977-10-17 6 Oct 27 at 11.00 a.m. at the Registered Office, Wlsma Mega, 2nd Mile. Jalan Batu Tlga Lama, Kelang.21 words
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Article400 1977-10-17 6 Current Ex Date Total for Total for payment Data payable the year previous year Carls berg Brewery 10%I Sept 29 Oct 21 10%1 10% Gold Coin 4%I Oct 10 Oct 21 4%I 11% UAC 7 WM) Sept 8 Oct 24 16.4(7) 14.4(a) Austral Amalgamated 50% Sept30 Oct 25400 words
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Article2533 1977-10-17 6 Week Gr's Gr's Net Week l97Vlf77 Conpuy I Last Div Div Y'ld P/E Vol Week High Lew Silt +er- C'yt CQOi) Higk Low SECTION ONE INDUSTRIALS 154 135 Acma 135 -I 12.ON 1.8 8.8 6.3 4 130 135 204 171 Alcom 171 -I 10.0 0.5 5.8 27.52,533 words
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Page 6 Advertisements
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Advertisement176 1977-10-17 6 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. Jt's people like these who176 words
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INTERNATIONAL STOCK MARKETS
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Article281 1977-10-17 7 AMSTERDAM. The market closed narrowly mixed with a lower bias on Friday, dealers said. Akao and Philips edged higher in Dutch Internationals, while Hoocovnu was unchanged and Unilever and Royal Dutch were lower. Elsewhere banks and insurances were mostly higher. KLM and Heine ken lost 2.40 and 1.70 Cders281 words
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Article176 1977-10-17 7 BRUSSELS: Belgian shares were mostly slower in average trading on Friday, bourse sources said Reserve, Cobepa and Nvieille Montague rose, but Electrobel, Ebei, Unerg, Union Miniere, Cockerill, Hainaut Sambre, Arbed, UCB and Moaanae fell. ST Roch was slightly lower despite announcing It expects to at least equal Its 353176 words
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Article142 1977-10-17 7 MILAN: The market closed generally lower on Friday with end-account technical factors restricting business, dealers said. Fiat, Both Pirelli, Olivetti and all leading Industrials eased on lack of Interest. Insurances and financial! were also lower but Mediobanca was steadier In banks, against the trend. Bonds were moderately active. OCT142 words
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Article275 1977-10-17 7 ZURICH: Stock price movements were mixed, dealers said. There was no apparent reac- tlon to Swiss National Bank president Frits Leutwller's remarks Switzerland has no Intention of introducing a ban on foreign purchases of Swiss stocks and bonds to stem the rise of the Swiss franc. Banks closed hardly275 words
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Article276 1977-10-17 7 FRANKFURT: Shares closed basically steady after a weak start on Friday, market sources said. Chemicals were up to one mark firmer, with electrlcals mixed, engineerings easier and motors gaining up to 1.70 marks Stores were also mixed, with banks and Insurances lower. Public bond prices ranged from gains of276 words
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Article373 1977-10-17 7 JOHANNESBURG: Gold shares were generally higher in quiet trading on Friday ahead of the weekend, dealers said. Gains ranged up to 50 cents while occasional losses ranged up to 25 cents. Financial minings were quiet and little changed. Diamond share De Been was three cents off at 500. In373 words
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Article287 1977-10-17 7 TORONTO: Share prices closed slightly easier in active trading on Friday. Information was available for the last hour of trading onlv after a computer problem held up market statistics. The composite Index was off more than 1/2 point but advances outnumbered declines 183 to 178. Bow Valley Industrie* gained287 words
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Article328 1977-10-17 7 PARIS: The market was lower In thin trading on Friday, depressed by the Slturbed foreign exchange market and Wall Street's two-year low, dealers said. Beghin was an exceptionally weak point In a depressed food sector, while banks, constructions and engineerings were weak and stores narrowly mixed. Creusot and Denain328 words
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Article1259 1977-10-17 7 On Oct 14 TRADING on the Chicago Board Options Exchange came to 113,897 contract! on Friday compared with 117,988 contract* on Thunday. OPTION ocy JAN APL STOCK Alcoa 40 NOL 31/1 43/9 43 1/3 AlCC* 46 1/16 1 3 431/3 Alcoa SO UNTRD 1/4 11/19 431/3 Alcoa1,259 words
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Article1362 1977-10-17 7 NEW YORK: The stock market, after overcoming some lntrasesslon ups and downs, broke a five-session losing streak to close out the week on Friday on a firm note In moderate trading. But analysts attributed no significance to the advance, describing It as a technical bargain hunting rally. Citibank's1,362 words
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Article61 1977-10-17 7 FINANCIAL TIMES INDUSTRIALS Friday 500.0 Thursday 495.7 Week Ago 517.2 DOW JONES AVERAGE INDUSTRIALS Friday 821.64 Thursday 818.17 Week Ago 840.35 LONDON DOLLAR PREMIUM Friday 92%. to 93(4 Thursday 89* to 89% H.K. HANG SENG Friday 416.89 Thursday 418.81 Week Ago 423.48 SYDNEY INDUSTRIALS Friday 368.14 Thursday 368.42 Week61 words
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Article691 1977-10-17 7 AP A "dislntermediation" scare gripped the stock market last week, driving the Dow Jones Industrial average down to a two-year low. The selloff developed amid Intensifying concern over rising Interest rates and fears that they would soon begin to disrupt the usual flows of money in theAP - 691 words
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Article381 1977-10-17 7 AFP TOKYO STOCK prices fell for the second straight week amidst the yen's continued appreciation and darkening prospects of corporate earnings last week. The 225-stock Dow indicator, a 100.16 yen loser the previous week, closed the holiday-shortened four-day week on Friday with another 55.84 yenAFP - 381 words
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Page 7 Advertisements
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Advertisement535 1977-10-17 7 BUSINESS TIMES Airline Directory Aeroflot $«»kt Aidmn 110-112 Show Centre, Orchard Road, Singapore 9 (Tal: 377.111) Air Ceylon 302-B, 3rd Flaar, Marina Houm S Kenton Way, Singapore (1) (Tal: ***** M) Ground. Floor, ICS Buildina, Shanton Way SiMuar. 1 (Tal: *****11) IMi Floor, UIC Building, Shanton Way, Singapore 1 (Tal:535 words
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COMMODITY REPORTS AND PRICES
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Article231 1977-10-17 8 LONDON. Sun. Terminal rubber values fell one to 1.20 pence per kilo by the end of the day on Friday Traders said some of the afternoon's selling followed a report that London bankers expecting the US dlr to fall further. The morning's slightly higher Eastern prices prompted231 words
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Article195 1977-10-17 8 THE Straits tin price in Penang on Saturday was down $3.00 to $1,765 on an official offering up 104 tonnes. In NEW YORK on Friday, grade 'A' tin prices were quoted in a wide range of 570.00 to 590.00 cents. Traders reported some light interest in near-by material.195 words
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Article316 1977-10-17 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY. Coconut Oil Bulk $80 sellers, old drum $85 sellers, new drum $90 sellers. Copra Mixed (loose) UK/Cont. $52 buyers. Pepper Muntok ASTA white f o b. 100% NLW $425 sellers, Sarawak white f ob 96% NLW $405316 words
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Article64 1977-10-17 8 C.I.F. Rotterdam prices quoted In London on Friday in US dollars per ton. Friday Previous Malaysia 5% ffa bulk Dec unch 438 sir Sumatra 5% ffa Oct unch 510 sir Nov ♦00/455 pd 440 sir December 437.90/432.50 pd 437.50/440 pd January 435/430 pd 432.50/435 pd Feb 435 sir64 words
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Article249 1977-10-17 8 LONDON, Sun. Copper wire bars on the day lost fully £3.50 for Cash and £4.50 for Three Months. The market partly recouped earlier losses on shortcovering and pre-weekend booksquarlng prompted by the steadiness at New York and the advance in tin, dealers said, On Frttay Three Months traded upto249 words
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Article37 1977-10-17 8 LONDON, Sun. Lead on the day lost £3.75 for Cash and £3.50 for Three Months on Friday. The market held basically steady in sympathy with copper, but trading was slow with only 725 tonnes changing hands.37 words
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Article31 1977-10-17 8 LONDON, Sun. Zinc eased by £0.5 for Cash and £0.75 for Three Months on Friday. This metal was very quiet, but steady on endmornlng levels. Sales were only 500 tonnes.31 words
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Article392 1977-10-17 8 BANGKOK, Sun. The feature of the rice market during the last week was the Interest shown by Indonesia to buy 150,000 tonnes of rice government-to-government for shipment next near, trade sources said. The director-general of the foreign trade department, Mr. Chumphol Thammacharl will leave for Jakarta later this month392 words
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Article520 1977-10-17 8 FOLLOWING a strong close in the New York market on Friday, the kilo bar market in Singapore opened higher at 5512.614 on Saturday. Prices fluctuated violently In hectic trading, with long liquidation dominating the market which closed at 5512,567. In the London market the metal opened at U*****.60/161.00 and520 words
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Article117 1977-10-17 8 LONDON, Sun. Spot silver closed two pence higher at 271/272 pence per ounce compared with the close on Thursday. Three Months was 0.50 pence higher at 273.50/274.50. Silver firmed In afternoon trading on US interest. The metal Is holding a steady trend underpinned by the buoyancy of the gold117 words
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Article182 1977-10-17 8 LONDON, Sun. Terminal sugar drifted lower In moderate afternoon dealings on Friday, but stabilised in late session on weekend booksquarlng and Jobber covering to close steady. But losses from Thursday still ranged from £1.80 to £0.50. Dealers said much of today's selling had been inspired by currency considerations. The182 words
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Article258 1977-10-17 8 LONDON, Sun. Renewed concern over tightness of early shipment physicals sent nearby Dec to the £40 limit up In the early morning at £2,423, but other {>osltions showed only lmlted gains. Turnover totalled 1113 Including 140 lots self traded and two options. The market began the day lower against258 words
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Article130 1977-10-17 8 CHICAGO, Sun. After losing about one cent In early dealings, wheat futures quickly turned upward and eventually finished the session at the day's highs with gains of three to 2-1/2 cents a bushel on Friday. Local and commission house shortcoverlng took prices upward and absorbed commercial selling. The gains130 words
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702 1977-10-17 8 COFFEE prices reacted strongly upward last week In a generally quiet Singapore produce market. The commodity price was marked up by $60 to $70 a plcul on the week despite conflicting news circulating in the market about the supply and702 words
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Article179 1977-10-17 8 LONDON, Sun. Coffee prices opened slightly easier on Friday morning, from £2 to £23 lower. Volume totalled 272 lots. In NEW YORK on Friday, coffee prices closed as much as four cents lower on stepped up speculative selling and lack of substantial roaster interest, dealers said. The market did179 words
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Article135 1977-10-17 8 CHICAGO, Sun. Soybean futures closed at the day's lows under the weight of harvest pressure and lost 83/4 to 5-1/2 cents a bushel on Friday. Liquidation and speculative selling prompted by the Increased midwest harvesting activity pushed prices lower and hedge selling kept them down despite periodic short profittaking135 words
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MONEY AND EXCHANGES
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Article176 1977-10-17 8 FIRM short term U8 interest rates saw the dollar pick up strength against the Oerman mark from the 2.2900 level to 2.3030, but continuing apprehension about US trade deficits coupled with the comment made by Treasury Secretary Michael Blumenthal that the recent mark and yen appreciation was small, saw176 words
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Article43 1977-10-17 8 ACBC 7 Airmen* Bank Citibank Bangkok Bank ....7 HSBC Bank at America Bank of China Bank of Tokyo ....7 «V< Indoouei Malayan BmMm Bank Nefara Indonesia ....7 OCBC OUB Chartered Bank 7 UCB Chase Manhattan 7 L'MBC DBS 7 COB43 words
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Article247 1977-10-17 8 Asian rates RATES firmed during the week by percent, notably in periods with a lesser rise In short dates. Earlier expectations of a sizable increase In money supply materialised with Ml up $4.9 billion and M 2 up $6.5 billion. The market was generally active. ASIAN currency average deposits rates247 words
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Article301 1977-10-17 8 THE hterbank market last week was relatively steady In a generally balanced market except for the surplus conditions prevailing on Wednesday, an adjustment day. Houses experienced certain difficulties in securing funds in view of the relatively higher overnight Interbank rate. Funds were generally taken in at 3% per301 words
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Article40 1977-10-17 8 FOR the week ended Friday Oct 14 the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND 1* to 4%% GENERAL FUNDS IV4H to 4*%. Movements of funds totalled 5703 million40 words
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Article450 1977-10-17 8 ZURICH, Sun. During the last week, the dollar suffered sharp losses. Its fall was accelerated by comments of US Treasury Secretary Michael Blumenthal, who said, that the recent yen and D-mark appreciations were too small to correct the trade and current account Imbalances. The prospect of somewhat higher interest450 words
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Article241 1977-10-17 8 NEW YORK, Sun. The US dollar continued to weaken against most major currencies In light and nervous trading, (Hosing at Its lowest levels of the day on Friday, dealers said. Remarks on Thursday by Treasury Secretary Michael Blumenthal that yen and mark appreciation had so far been relatively241 words
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Article149 1977-10-17 8 Euro rates LONDON, Sun. Eurodollar deposit rates eased against higher openings as trading volume decreased because of weekend influences, dealers said on Friday. The sharp rise In the US money supply, though largely discounted, prompted a higher opening. Period rates avarased 1/16 Glnt gains Initially and Id steady throughout the149 words
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Article270 1977-10-17 8 LONDON, Sun. The dollar closed lower against most leading currencies In active Friday business after the most hectic trading week seen so fax this year, dealers said. Thursday's US money supply figures, in line with market estimates of a very steep rise in Ml, depressed the unit at the270 words
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Article54 1977-10-17 8 Source: Astley and Pearce LOCAL money market on the whole was squarish with overnight trading around 4 1/2 per cent. Terms were relatively quiet with rates slightly firming up towards the weekend to close 5 3/8 1/4, 5 1/2 3/8 and 5 5/8 1/2 In the one, twoSource: Astley and Pearce - 54 words
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Article30 1977-10-17 8 FRANKFURT exchanges quoted on Oct U.S. 2.2735/45 U.K. 4.015/020 Netherlands 93.70/80 Switzerland 99.95/100.05 Belgium (com) 6.42/43 Belgium (fin) 6.42/43 France 46.95/47.05 Norway 41.53/61 Italy 2.580/590 Japan 0.9002/12 Canada 2.0625/4530 words
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Page 8 Advertisements
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Advertisement158 1977-10-17 8 Don't let the language barrier stop you from wider contacts r--iQZ to I > i h kw ed«* e < e3 &V> ofte .o vl et^ 0 \v« e Ll< 6* P e \e^ I j L. YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at home, while travel- ling158 words
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MONDAY SPORTS
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Article, Illustration1405 1977-10-17 9 HUGH McILVANNEY - HUGH McILVANNEY reports from New York on some fascinating new aspects of the US soccer phenomenon. HUGH McILVANNEY The Observer WHEN something Is growing as fast as Association Football is in the United States, hyperbole is a natural hazard. So it wasThe Observer - 1,405 words
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Article, Illustration945 1977-10-17 9 E. FRIDA - By E. FRIDA KEPPEL thrashed the defending champions Singapore Island Country Club by five games to one at Buklt Chermln yesterday, to throw open the Singapore Golf Association Handicap League Championship wide open. It was SICC's biggest defeat In the league this season.945 words
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497 1977-10-17 9 UPI LONDON, Sun. Peter W1 the snatched a lucky lastgasp goal yesterday to steer Nottingham Forest to a 2-1 victory over Manchester City in their top-of-the-table English First Division soccer clash. Withes winner against Manchester City came three minutes from time and hitUPI - 497 words
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Article, Illustration444 1977-10-17 9 UPI AP MADRID, Sun. Wimbledon champion BJorn Borg yesterday outstroked Eddie Dibbs of the United States 6-2, 6-3, 6-3 to move into the finals of the $100,000 Madrid Grand Prix tennis tournament. In the other semi-final, Chile's Jaime Fillol played a total net-chargingUPI; AP - 444 words
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903 1977-10-17 9 NYT NEW YORK. Sun. In his distinguished career with the Yankees, Sparky Lyle has sat on birthday cakes In his birthday suit. He has arisen from a coffin, his face powdered a ghostly white, in the middle of a team meeting. And heNYT - 903 words
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Article253 1977-10-17 9 UPI LOS ANGELES, Sun. The New York Yankees yesterday moved another step nearer to their 21st World Championship, and first since 1962, when they trounced the Los Angeles Dodgers to move 3-1 up In the best of seven series. The Dodgers, meanwhile, are now faced withUPI - 253 words
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Page 9 Advertisements
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Advertisement90 1977-10-17 9 In days of yore. When Henry Four Was trying hard to keep Rebellion down, In London Town A tavern in Eastcheap Had great renown; Here did the Crown Prince Henry entertain, With clack and smack And lots of sack His sycophantic train. The Boar's Head Inn (A synonym For food90 words
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Advertisement207 1977-10-17 9 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 into| your business through207 words
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732 1977-10-17 10 AN ANNUAL Investment of between $300 million and $400 million will be needed to create the 300,000 estimated new Jobs required in Singapore In the next 10 years. This, said Mr. Ong Wee Hock, head of manpower division, Economic Development Board, was achieved previously,732 words
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Article195 1977-10-17 10 Reuter LONDON, Sun. British retail prices r05&0.5 per cent in September, the same increase as in August, bringing the year-cn-year rate down for the third successive month to 15.6 per cent in September from 16.5 per cent in August, the Employment Department said. The 12-monthReuter - 195 words
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139 1977-10-17 10 Reuter FRANKFURT, Sun. Germany should not accept higher textile imports from China as they would reduce the Industry's order-book while Increasing unemployment, the West German Textile Industry Association said. Responsibility for solving Qlno-German trade Eblems does not lie with textile sector, as Germany Is already byReuter - 139 words
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Article70 1977-10-17 10 UPI HONGKONG, Sun. China's 42nd Kwangchow export commodities fair opened yesterday with China hinting at a "big development In China's foreign trade." An official New China News Agency report monitored here said "tremendous changes" since the notorious Gang of Four fell from power have led to a "newUPI - 70 words
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376 1977-10-17 10 Reuter HONGKONG, Sun. Bankers here expect the Bank ,of China's reported readiness to accept projectfinancing deposits from West German banks will be followed by similar arrangements with banks of other countries. They expressed little surprise at last Thursday's report from Peking that Chinese bankingReuter - 376 words
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Article235 1977-10-17 10 AP TOKYO, Sun. The Kremlin remained anxious to borrow money from Western nations to strengthen Its military Industry for expansionist purposes according to China's official News agency, Hslnhua. Hslnhua, quoting an article In the People's Dally of Peking, said Moscow has been pressing the West for moreAP - 235 words
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Article130 1977-10-17 10 AP TOKYO, Sun. West Germany and China have signed a contract calling for Bonn to export 250.000 tonnes of steel pipe valued at 160 million marks (SSI7O million) to Peking, Japan's Kyodo news service reported yesterday. Kyodo also reported that another contract was con- cluded for additionalAP - 130 words
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334 1977-10-17 10 LUCKY PLAZA, Par Bast Organisation Centra's ON million shopping complex la Orchard Road.loeks as If it is ready to make sons soUd returns to its lievlopsts. Already, it is understood, the Plaza is 76 par cent filled. Of this, half has been334 words
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208 1977-10-17 10 THE FIRST lot of 200 Russian cars Is expected to be sold out In Singapore when they arrive towards the end of the year. Mr. Henry Ang Thlan Huat, the managing director of the Henry Ang Agencies, said that the company has208 words
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337 1977-10-17 10 KUALA LUMPUR, Sun. Malaysia is now emphasising on non-traditional exports In Its trade promotion in Japan. Deputy secretary-general of the Trade and Industry Ministry, Enclk Ahmad Sa'adl, said this could be underlined In two export promotion projects this month, a Malaysian trade exhibition in Tokyo337 words
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Article177 1977-10-17 10 AFP KUALA LUMPUR, Sun. 1 A 15-member Belgian trade 1 mission win arrive here on < Nov. 13 for an eight-day I visit to promote and popu- 1 larise Belgian products in J local market. The visit is sponsored by 1 the Belgian Federation of Metal-workingAFP - 177 words
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Article328 1977-10-17 10 Reuter HOT SPRINGS, (Virginia) Sun. Leading US Industrialist at the Autumn Business Council meeting warned that unlet* a US$22 billion (8554 billion) tax cut 1b In place by next July 1 the country facet a weakening economy In the second half of 1978. TheReuter - 328 words
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Article315 1977-10-17 10 UPI WASHINGTON, Sun. Major oil companies have sought to become "energy companies" through acquisition of other sources of fuels, a congressional report says. "This has led to discussions about the possibility of legislation requlrlne horizontal divestiture of the petroleum Industry," said Senator FrankUPI - 315 words
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488 1977-10-17 10 Reuter HONGKONG, Sun. Business leaders here have boldly forecast a bright future for Hongkong In 1900, an opUmlstlc prophecy for a colony that China considers to be temporarily British. The crystal ball gazing came from the Hongkong Chamber of Commerce, grouping 2,100 companiesReuter - 488 words
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127 1977-10-17 10 Reuter HONGKONG, Sun. The Trade Development Council (TDC) of Hongkong Kredlcted purchases by ungary and Poland of locally-made goods amounting to HKSIOO million (5548.8 million) by the end of this year. TDC director, Mr. Len Dunning said In the first eight months of thisReuter - 127 words
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239 1977-10-17 10 UPI JAKARTA, Sun. Indonesia is discussing the possibility of making spot sales of Its excess liquid natural gas (LNO) to buyers In the United States and expanding Its export markets elsewhere, according to the president director of the state oil company, Pert&mlna. AccordingUPI - 239 words
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Page 10 Advertisements
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Advertisement68 1977-10-17 10 SEE PAGE 5 Anew international financial company opens in Hong Kong. MITSUI FINANCE ASIA LIMITED Capital: Authorized US$lO million, Paid Up US$lO million Shareholder: The Mitsui Bank, Ltd., Tokyo, Japan Address: Room No. 801, Connaught Centre, 1 Hoylok Street, Central, Hong Kong Tel: 5-*****1 Telex: ***** Cable Address: MITFINASIA HONGKONG68 words
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