The Business Times, 14 November 1977

Microfilm: NL9610
Total Pages: 10
1 10 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, NOVEMBER 14, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      All except poisons
      52 1 ALL MEDICINAL products, except those classified as poisons, can now be imported, manufactured and sold without licences. Announcing this yesterday, the Ministries of Health and National Development said the move was made in the light of difficulties encountered by traders and manufacturers In complying with the Medicines
      52 words
    • Article
      Lock icon Iraq invites bids
      66 1 AP BAGHDAD, Sun. Iraq plans to Invite foreign bids soon for agricultural, industrial and services projects worth more than US$l billion (8*2.4 billion) in the southern Iraqi province of DhlQarr, the official Iraqi News Agency reported today. They Include a $417 million aluminium plant, $330 million for
      AP  -  66 words
    • Article
      Lock icon Typhoon warning
      69 1 Reuter MANILA, Sun. One of the strongest typhoons seycra l years, packing central winds of nearly 205 kms an hour, is expected to hit the Philippines coast early tomorrow, the Weather Office warned today. The highest warning signals have been hoisted over the capital and most of the
      Reuter  -  69 words
    • Article
      Lock icon HK exports more
      73 1 Reuter HONGKONG, Sun. Hongkong's domestic exports (total exports less re-exports) to the US rose to HK$lO.O3 billion (Sss billion) in the first nine months this year from $8.30 billion in the same 1976 period, Census and Statistics Department figures show. Exports to all areas rose $1.65 billion
      Reuter  -  73 words
    • Article
      Lock icon Petro-chem stake
      68 1 Reuter MANILA, Sun. Taiwan is Investing US$9O million (Ss2l6 million) In the proposed petrochemical complex due to be constructed here by 1981, a director of the Pacific Economic and Cultural Centre, Mr. William Sun, said. He said the Investment will be used for construction of low and high
      Reuter  -  68 words
    • Article
      Lock icon Handloom mission
      67 1 AFP NEW DELHI, Sun. An Indian team will visit Brussels shortly to discuss the difficulties faced by India In its exports of textiles and handlooms to the European Economic Community (EEC) countries. Disclosing this in Madras, Mr. Madura! Nayagam, secretary of the Handloom Export Promotion Council, said he
      AFP  -  67 words
    • Article
      Lock icon Car entry permits
      56 1 Reuter JOHORE BARU, Sun. Singapore-registered cars entering Malaysia from Jan 1 next year can obtain entry permits for one year Instead of having to renew them every month. Deputy Works and Utilities Minister Goh Cheng Telk said here today. At present, car permits are granted on a
      Reuter  -  56 words
    • Article
      Lock icon Strikers give up
      71 1 AFP MADRID, Sun. Spanish airport ground staff who have been on strike since Friday will return to work tomorrow despite the government's refusal to meet their demands for more pay. The 11,000 strikers are claiming a rise negotiated before the Oct 25 signing of the economic agreement
      AFP  -  71 words
    • Article
      Lock icon German aid pledge
      70 1 AFP H£ L £> LU PUR Sun The state Minister with the West German Foreign Office, Dr. Hammbruecher, said her country was willing to provide more economic and technical aid for projects under the Third Malaysia Plan. She told a press conference here today that she had
      AFP  -  70 words
  • Article
    TOP TEN STOCKS
    116 1 THE followinc lta« of atocfca (ivee the 10 moat traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units, closina prices on Friday and the high and low for 1977. Company Turwm 'OM Price* Nov 11 High 1 Low
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  • LOCAL STOCK INDICES
    • Article
      SINGAPORE
      66 1 Nw7 N«v8 Nov 9 Not 10 Not 11 tt BT Index: 431.48 429.39 432 07 closed industrials: 280 .46 259 93 280.29 cffi S Finance: 419.39 418.16 418 35 P H 172.29 172 44 mS cSd 173 22 Properties: 162.21 163.07 162.95 c ££d 22? t Tins. 146.23 146.21
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    • Article
      MALAYSIA
      84 1 tt t t BT Index: Industrials: Finance: Hotels: Properties: Tins: rubbers: Nmr7 518.18 286.40 362.50 177.96 150.17 146.32 352.90 Nov 8 517.02 286.08 362.40 177.73 150.37 146.19 354.51 Nor 9 Sor 10 539.14 closed 28$ 69 cloeed 362.50 closed 177.58 closed 151.06 closed 12 closed 355.97 closed Ne»ll 535.57
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  • Article, Illustration
    Local shipyards face the crunch
    1173 1  -  SOME MAY HAVE TO CLOSE »r TERESA LIM AS THE world shipbuilding industry sinks deeper into recession, Singapore is likely to see the closure of its less competitive shipyards. Making- this grim forecast, Mr. P.H. Meadows, managing director and chairman of Far EastLevlngston Shipbuilding (FELS),
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  • Article
    KL TIN SHARES TAKEOVER PLAN
    173 1 IPOH, Sun. The Malaysian government is drawing up plans to enable a smooth takeover by bumlputra individuals of shares in tin mining companies acquired by Pernas Securities, Finance Minister Tengku Razaleigh Hamzah said here yesterday. He advised members of the Malaysian Bumlputra Chamber of Mines
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  • Article
    Second launching of US$ CDs
    1094 1  -  ■y COLIN CHEE THE Asian dollar market will be given greater depth and sophistication when the Monetary Authority of Singapore launches in January the long-awaited fixed interest negotiable certificates of deposit in US dollars. The fixed rate US dollar CD, however, will not be a
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  • Article
    Why Viets cancel that trade visit
    114 1 VIETNAM yesterday appeared to confirm that It cancelled a trade mission visit to Singapore because of displeasure over the Republic's handling of four Vietnamese hijackers who forced a plane to fly here two weeks ago. The Singapore Government announced on Saturday that Vietnam had
    114 words
  • Article
    Hokushin pegs bond coupon
    252 1 THE coupon for Hokushin Electric Work's US$lO million (8*24 million) convertible bond issue has been pegged at 6% per cent with issue price at 100 per cent. The issue, the second foreign currency convertible bond issue to be floated in the Asian dollar market, also had
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  • Article
    Lock icon US team seeks to cut Tokyo surplus
    196 1 UPI. TOKYO, Sun. A working level party of US government trade negotiator! will arrive in Japan on Wednesday for talks on reducing Japan's mounting trade surplus with the United States, Chief Cabinet Secretary Sunao Sonoda said yesterday. T j»®, will be headed by
    UPI.  -  196 words
  • Article
    Lock icon Cashing in
    54 1 Reuter TOKYO, Sun. Foreign investors bought US$9OO million (Ssl .9 billion) worth of 60-dav Japanese Treasury bills in the-flrst 27 days of October through arbitrage operations, taking advantage of large discounts for forward dollars, Mitsubishi Bank said. This compared with only $97 million in September and just $5
    Reuter  -  54 words
  • Article
    Vast Omani market awaits local businessmen
    469 1 A LARGE market awaits Singapore businessmen in Oman and the other Gulf countries but they will have to be more aggressive in their makretlng or face losing out to businessmen from other countries. "You are the sellers," said Mr. Mohammed Faqeer, director of the
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  • Article
    Lock icon Saudi port deal
    149 1 Reuter MANILA, Sun..— The Manila-based Landoll Resources Corporation announced today that its subsidiary, PhilippineSingapore Ports Corporation, had signed a new contract with the Saudi Arabian Pert Authority to operate the port of Jeddah, doubling a previous Saudi contract with the group to US$6OO million (SSI.4SO million) over
    Reuter  -  149 words
  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      47 1 Ricoh for plain paper copying *****33 M Wywy Private Limited •..a rttporuibU compmmy 39th Floor Hong hong Building Swgtport 1. INSIDE LsisurwTV Radio/ Crgtnwdi Pi Leisure —P3 Fntura —P4 International Co News—PS Local Co Newt —Pf Overseas Markets —P7 Commodities —P8 Sports -P| Local A Overseas NewsPlQ
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    • Advertisement
      Page 1 Advertisements Column 2
      71 1 SIX-STOREY FACTORY BUILDING FOR SALE SCITtCIE FOR lien WDISTIIES, WHEIOKIK MD OFFICES SPECIFICATIONS: Land area: Over 1325 iq. metre Area per floor: Approx 470 >4. metre Facilities: 1 passenger lift, 1 cargo lift with ample carpark for private cars and lorries. Completion data: End December, 1977 Location: No. 44, Alexandra
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    • Advertisement
      Page 1 Advertisements Column 3
      132 1 feptayaurwMls rpr SEE BACK PAGE JAL FLIGHT 712: THE TOKYO EXPRESS Non-stop toTokyo, same-day 4 T f*gt Tm to the US. Canada. 4r \V*. jriiri» NEW YORK \ANCOUVER 'WSAN 1 FRANCISCO ANGELES! K fj ISMGAPORE HONOLULU MEXICO CITY Only on JAL can you non-stop to Tokyo, then make convenient connections
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  • REVIEWS
    • Article
      ADDING DEPTH
      472 2 THE Asian dollar market will move Into a new era tomorrow when Dal-Ichl Kangyo Bank's Singapore branch launches the first floating rate US dollar negotiable certificates of deposit worth US$l5 million here. The flotation, which comes some seven years after Citibank's fixed rate US dollar CD Issue, will
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    • Article, Illustration
      Plans to stage world premiere here
      1282 2  -  MUSICAL ON SIR STAMFORD RAFFLES By TERESA LIM FINANCIAL support for a musical production on Singapore's founder. Sir Stamford Raffles, should not be wanting from businessmen here not especially If It Is written by two economists. The playwrights, lan Senior and Richard Cleg-horn-Brown, prove
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    • Article
      Lock icon Composer who held the most superb palette
      1111 2  -  By HAROLD SCHONBERG NYT NEW YORK: Here's an operatic novelty for you. The bright and enterprising opera department of Indiana University in Bloomlngton Is giving what it believes to be the first staged American performance of Rlmsky-Kor-sakov's "The Night Before Christmas" (in most
      NYT  -  1,111 words
    • Article
      Lock icon BLIND DATE WITH DEATH
      622 2  -  By JOHN LEONARD NYT Blind Date. By Jerzv Kosinski. 236 pages Mifflin ON page 21 of Jerry Koslnskl's sixth novel, George Levanter worldly small investor, emigre, photographer, ski bum, amateur diplomat, parttime assassin, sexual athlete (If we think of Attfla the Hun as a sexual athlete)
      NYT  -  622 words
    • Article
      Lock icon Photography: Exposing an artistic paradox
      1124 3  -  By HILTON KRAMER NYT NEW YORK: There are photographs that are deliberately created to be works of art, and there are photographs produced for a wide variety of other purposes among them, political propaganda, social reportage, advertising promotion, erotic stimulation, scientific research and personal reminiscence.
      NYT  -  1,124 words
    • Article
      Lock icon Valuable wine collection found
      717 3 NYT NEW YORK: The wine cellar of a famous old Dutch colonial mansion In Albany, New York, sealed off for more than three-quarters of a century, apparently holds one of the most valuable collections of 18th century French wines ever discovered in the United States. "I
      NYT  -  717 words
    • Article, Illustration
      ONE MAN'S WEEK
      1380 3  -  By LUQMAN ARNOLD Mr. Arnold MONDAY: This is the second week In the office after an absence of six weeks. Some of the workscape has changed, but much is as before. A few urgent deals subjected to my benign neglect have suffered not at all. So now
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  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      172 2 IBJ The Bank for All Reasons Long-Term Financing. IBJ is Japan's oldest and largest long-term credit bank. We are the leading bank in arranging yen-denominated bond flotations by both foreign and domestic issuers. Main Bank to Japan's Key Industries. IBJ is main bank to more of Japan's industrial leaders than
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      252 2 RADIO SINGAPORE 5 3.00 PM Opening followed by Valar Pirai (Tamil Repeat) 3.30 Diary of Events (Tamil) 3.35 Afternoon Matinee The Magnet (Part 1) starring: William Fox, Kay Walsh, Stephen Murray. 4.20 Intermission 6.05 Opening Followed By Inquiry More Than Exchange 6.30 News in Brief 6.35 Marine Boy 7.00 The
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      53 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 pm on Sunday, Nov 13 at Singapore airport. Maximum Temperature 30.4* C Associated Humidity 72 Minimum Temperature 22.4° C Associated Humidity 100 Hours of Sunshine 2.80 Rainfall in Millimetres 28.2 Total Rainfall for the Month 150.2 Total Rainy Days for
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    • Miscellaneous
      Page 2 Miscellaneous Column 3
      459 2 TWO-IN-ONE CROSSWORD aiaiiaan CRYPTIC PUZZLE ACROSS 5 Fr tr United (6) 1 Poses on a chair? (4) 6 Ss3ii«i l ?r 4 Put down as useless (6) 8 A question of method (3) 10 Loveless Anona (4) 13 A dodo-like elephant! (8) 14 Dog stick (7) 15 Service consumer groups
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      208 3 s- Every Sunday, Pan Am gets you to Hongkong and San Francisco fatter than any other axrline. Now Pan Am gets you to Hongkong and San Francisco ahead of all other airlines Every Sunday, Pan Am leaves Singapore at 0820 for Hongkong and San Francisco. Flying you straight into Hongkong
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  • Article, Illustration
    Lock icon Italy still the hot spot for tourists
    664 4  -  By ANDREW BOROWIEC Observer ROME: Despite its various problems, Italy has continued its unchallenged reputation as Europe's major tourist attraction this year. Undeterred by scare headlines announcing rising violence from riots and prison breakouts to muggings and purse-snatching, Americans and Europeans moved in
    Observer  -  664 words
  • Article
    Lock icon The emerald illusion that never fades
    993 4 The excitement began when a poor labourer from the mountains sold a tinful of green stones to a stranger in Campo Formoso. They were emeralds. Although that was 15 years ago, the celebrations have not quite finished yet. Matheus Feldhuzen reports from Rio de
    FT  -  993 words
  • Article, Illustration
    Humble mussels now rank with oysters in Australia
    592 4  -  By NOEL CARRICK AUSTRALIANS, proud of their country's succulent rock lobsters, oysters, scallops and abalone, are discovering the gastronomic appeal of its most prolific mollusc the humble mussel. Scorned by older Australians of British stock as "fishbait", others are acquiring a taste
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  • Article
    Lock icon War of the plastic bottles rages on
    910 4 NYT NEW YORK: The war of the plastic bottles acrylonltrlle against polyester Is not completely over even though a ban of acrvlonltrlle bottles Is scheduled to take effect on Dec 22. To be sure, Coca-Cola bottlers are making a fast switch from the
    NYT  -  910 words
  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      208 4 Success in today's world of business calls for a constructive approach to financing, a sound knowledge of the available markets, and original ideas. These are the strategic qualities that Wardley can provide throughout Asia. Wardley Limited, backed by the resources and experience of The Hongkong Bank Group, can offer financial
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  • Article
    Credit Suisse to study negative interest on deposits
    345 5 ZURICH, Sun. The Swiss National Bank said It set the amount of negative Interest due in connection with trustee deposits channelled by Credit Sulsse's Chlasso branch to Texon Flnanzanstalt at 62.2 million francs. The calculation of the amount due Is based on
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  • Article
    Taisei sees fall in profit
    77 5 TOKYO, Sun. Taisei Corp said it expects profit for the year ending next March to fall 30 per cent to 7.5 billion yen from 10.71 billion in the previous year, on sales of 570 billion yen, down 4.3 per cent from 547.24 billion a year
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  • Article
    Lock icon BP won't appear in court to answer writ
    169 5 Reuter LONDON, Sun. British Petroleum said it does not intend to appear before the Zamblan High Court to defend an action against it and seventeen other defendants under which the attorney general of Zambia is seeking about £4 billion in riflmAffPS BP
    Reuter  -  169 words
  • Article
    Lock icon Two million shares sold
    35 5 Reuter NEW YORK Sun. Salomon Brothers said It handled the sell and buy sides of two million British Petroleum Co shares at USSI6S each, up on the New York Stock Exchange.
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  • Article
    Lock icon W. Electric gives evidence on uranium cartel
    460 5 AP RICHMOND, (Virginia), Sun. Westlnghouse Electric Corporation has submitted evidence in Federal Court here to show a former Gulf Oil Corporation official admitted a cartel was created In 1972 to control world uranium production. A sworn statement by Donald Hunter, a former director
    AP  -  460 words
  • Article
    Treasury fines Gulf
    106 5 WASHINGTON, Sun. The Treasury said it has fined Gulf Oil Corp U*****,500 for not reporting movement of currency into or out of the US. The Treasury also said it hopes to announce within six weeks a new programme designed to step up compliance with the Bank Secrecy
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  • Article
    Lock icon Australian govt to help keep Mt. Lyell moving
    214 5 Reuter CANBERRA, Sun. Prime Minister Malcolm Fraser said the Federal Government will provide almost all the interim aid needed to keep Mt. Lyell Mining and Railway Co's Tasmanlan copper mine in operation. The government had earlier proposed providing aid on a dollar
    Reuter  -  214 words
  • Article
    Lock icon US Steel cuts its capital expenditure
    283 5 Reuter CHICAGO, Sun. US Steel has reduced its new authorisations for capital spending to US$75O million this year from $852.3 million In 1976. president David Roderick said after a regional stockholders meeting here. He said authorised but unexpended outlays would be about $1 billion
    Reuter  -  283 words
  • Article
    Lock icon Abercrombie up for sale
    265 5 AP NEW YORK, Sun. The entire inventory of Abercrombie and Fitch, the store that outfitted Theodore Roosevelt for his dashing ride up San Juan Hill and catered to generations of wealthy sportsmen, goes on sale this week. The firm founded by Ezra Fitch in 1892 is
    AP  -  265 words
  • OVERSEAS
    • Article
      Lock icon Pressure to coordinate
      720 5 FEDERAL RESERVE AND CONGRESS Reuter WASHINGTON. Sun. Pressure for the coordination of monetary and fiscal policies is growing in Congress. Informed sources said there is a growing feeling the Federal Reserve is Increasingly using monetary policy to thwart fiscal initiatives made by Congress and the Carter Administration.
      Reuter  -  720 words
    • Article
      Lock icon UK rate unchanged
      80 5 Reuter LONDON, Sun. The Bank of England set minimum lending rate unchanged at 5 per cent. The average rate at Friday's UK Treasury bill tender fell to 4.4359 per cent from 4.4721 per cent. Last week's £450 million (SSI ,960 million) offer of 91day bills met applications
      Reuter  -  80 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      593 5 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKG SAS SK097 0750 CPH/KHI/BKK MAS MH682 0810 KCH GIA GA980 1030 HLP CPA CX710 1035 HLP THAI TG423 1035 BKK SIA SQ209 1045 HLP OIA OA944 1055 PKU OIA QA908 1100 MES PAL PR501 1115 MNL
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  • Page 5 Advertisements
    • Advertisement
      Page 5 Advertisements Column 1
      211 5 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 through
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    • Advertisement
      Page 5 Advertisements Column 2
      103 5 HAPPINESS IS GOOD HEALTH Join the Hilton Health Club a truly Comprehensive and equally Exclusive Health Centre with Sauna Bath, Turkish Steam Bath, Hydro-Pool, Swimming Pool, Gymnasium, Massage service etc. &n (Baaiusivc Qhimriovs Surroundings i a n f V p v d m O V. m LIMITED MEN MEMBERSHIP NOW
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  • COMPANY NEWS
    • Article
      Ben's efforts to lift sales showing results
      450 6 BEN AND CO has posted interim results showing a modest operating profit of $301,000 for the six months to Aug 31, 1977, compared with an operating loss of $411,000 for the corresponding period last year and $95,000 for the year ended Feb 28,
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    • Article
      Talam profit up 71.3 pc
      373 6 DESPITE a decline In output of tin concentrates, Talam Mines has reported a 71.3 per cent Increase In pre-tax profit to M 5309,091 for the six months ended Sept 30. 1977. As the company's mine Number One ceased operations in August, mining was significantly reduced
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    • Article
      COMPANY MEETINGS
      58 6 THE following company meetings are due: Veneer Product* Ltd: Nov 15 at 13th floor, Tunas Building, Anson Road, Singapore 2 at 10 a.m. Consolidated Plantations Ltd.: Nov 16 at noon at the Regent of Kuala Lumpur Hotel, Jalan Imbl, Kuala Lumpur. Tractors Malaysia Bhd.: Nov 17 at noon
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    • Article
      DIVIDENDS ANNOUNCED
      314 6 Current Ex Date Total for Total for payment Date payable the year previous year Datuk Keramat 25%I Oct IB Nov 18 25% 90% Supreme Corp 10% Oct 13 Nov 18 10% KLK 5*1 Oct 13 Nov 19 5% 10% S. Tractor* 22.5% Oct 12 Nov 21 32.5 28.1%a
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    • Article
      Central Securities gets M$6m loan for subsidiary
      199 6 CENTRAL Securities has secured a Ms 6 million loan from three Malaysian banks to finance the expansion of Its 88 per cent owned subsidiary General Aluminium Works (Malaysla). The credit facilities will be managed by Malaysian International Merchant Bankers and provided by Hongkong
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    • Article
      Wearnes now owns all of Amitex
      71 6 INCHCAPE and Wearne Brothers have reached agreement whereby Inchcape will relinquish its 50 per cent Interest In a dormant company, Amitex Adheslves (Pte) Ltd., to Wearne for no consideration. Amitex was Jointly set up by the two companies In 1970 to manufacture adheslves but
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    • Article
      Share Information for the week
      2506 6 m«k U* CtaitiT Last Sale Week +orGr'a Div Div CTT Or'i Y'M Net P/E Weak Vol Week CMC) Hlgk Low SECTION ONE INDUSTRIALS v 154 204 116 242 88* 198* 169 134 165 58 212 57* 155 152 Ac ma Alcom Allied Choc Bata Ben
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      176 6 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Tokyo
      510 7 TOKYO: Bhare price# closed higher on Saturday extending Friday's rally and In line with Wall Street, dealers said. The Dow Jones average rose 30.73 to close at 4. with volume 100 million shares. The New index cloeed at 372.15, up 1.96. Export-orientated electrical*, vehicles and precision instruments firmed following
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    • Article
      Amsterdam
      274 7 AMSTERDAM: Shares firmed steadily throughout the session on Friday In response to the firmer tone on Wall Street and Akzo led Dutch Internationals 1.10 guilder* higher, dealers said. Most transport, trading and Industrial stocks rose, banks were lower while Insurance were mixed. State loans were very steady following the
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    • Article
      Brussels
      12 7 BRUSSELS: The market was closed on Friday for a public holiday.
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    • Article
      Milan
      151 7 MILAN: The market moved generally lower In reduced trading on Friday, bourse sources said. Fiat, Olivetti Privileged, Pirelli SPA and Montedison were leading Industrials to ease but Olivetti Ordinary, Snia Viacoaa, Anic and Pirelli EC gained slightly against the trend. Mediobanca was marginally higher in banks while financial* and
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    • Article
      CHICAGO BOARD OPTIONS
      1364 7 On Nov 11 VOLUME on the Chicago Board Options Exchange reached a record 221,073 contracts on Friday up from 183,973 on Thursday and the previous record of 207,570 on July 15. 0 iPTX»« JAW An. jly STOCK Mam -M il/4 CJHTHO UMTRD 44 VI JSM1 *4 11/4
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      Frankfurt
      288 7 FRANKFURT: The market firmed on Friday in lively endweek trading with buying lntere« by domestic and foreign Institutional Investors supplemented by private customers, dealers said. Deutsche Babcock Ords led companies in the nuclear construction sector up to 13.50 marks higher and other constructions were also firmer. Leading shares gained
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      Paris
      12 7 PARIS: The market was closed on Friday for a public holiday.
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    • Article
      Zurich
      309 7 ZURICH: The market ended steady on Friday, supported by the recovery on Wall Street, dealers said. Activity, however, was quiet partly owing to the Armistice Day closure of some bourses. Among little changed leading banks, Kreditaastalt eased slightly following the negative Interest decision against it by the National Bank.
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    • Article
      Toronto
      294 7 TORONTO: The composite Index closed more than 12 points higher In active trading on Friday, reflecting gains In all but one of Its 14 sub-indices. Advances outnumbered losses 276 to 123. Resource-related stocks had some of the largest Increases, with Aibnlof Corp up 1% to 37 V 4, Alcan
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    • Article
      Jo'burg
      392 7 JOHANNESBURG: Gold shares were mixed In thin trading after an easier start on Friday, dealers said. Movements either way mostly ranged from five to 50 cents. W. Dries, however shed 120 cents to 3,330. Financial minings were generally unchanged In quiet trade. De Beers was seven cents up at
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    • Article
      New York
      1194 7 NEW YORK: Stocks on Friday continued Thursday's strong pins, moving sharply higher In heavy trading despite the Veteran's Day holiday which closed many banks and businesses Analysts attributed the gains to investor optimism short-term Interest rates have reached a plateau after rising for several months, and to technical
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    • Article
      Indices
      64 7 FINANCIAL TIMES INDUSTRIALS Friday 501.4 Thursday 488.7 Week Ago 476.2 DOW JONES AVERAGE INDUSTRIALS Friday 845.89 Thursday .832.55 Week Ago 809 04 LONDON DOLLAR PREMIUM Friday 98* to 98*. Thursday 94 W to 95 H.K. HANG SENG Friday 434.49 Thursday 429.94 Week Ago 434.80 SYDNEY INDUSTRIALS Friday 387.72 Thursday
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    • Article
      Lock icon Nippon hopes to maintain dividend at 10 pc
      175 7 Reuter TOKYO, Sun. Nippon Steel Corp said it hopes to maintain its dividend for this year at last year s 10 per cent, but Is not confident It will be able to do so. The company earlier said It was omitting an
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    • Article
      Lock icon Good gains on NYSE
      695 7 NYT THE New York stock market, buoyed by encouraging economic developments, posted its best weekly gain of the year last week in accelerated trading. The Dow'Jones Industrial average soared 35.95 S tints to finish the week at 5.89. The Dow's previous record this year was for
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    • Article
      Lock icon Tokyo lost ground for the sixth week
      305 7 AFP TOKYO stock prices lost ground for the sixth week in a row last week amid concern over the slower-than-expected economic recovery. The Dow Indicator dropped below the 5,000yen mark on Tuesday for the first time In three months and remained below the
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    • Article
      Lock icon Gas refining plant
      136 7 Reuter TOKYO, Sun. A group of three Japanese firms has signed a five billion yen contract in Peking with the Chinese Technical Import Corporation to export a natural gas refining plant. Chlkuma Sangyo Co said. The Japanese contractors are Chiyoda Chemical Engineering and Construction Co, Mitsui and
      Reuter  -  136 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      455 7 BUSINESS TIMES Airline Directory Aeroflot Soviet Airiinet 110-112 Shaw Confrt, Orchard Rood, Singapore 9 S (Tal: 377.111) Air Ceylon 302-B, 3rd Floor, Marina Houto Shonton Way, Singapore (1) (Tal: *****00) Air Franco Ground. Floor, ICB Buildina, Shonton Way Singapore 1 (Tel: *****11) Aiv I ndin 16th Floor, UIC Building, Shonton
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  • COMMODITY REPORTS AND PRICES
    • Article
      FOREIGN RUBBER MARTS
      208 8 LONDON, Sun. Terminal rubber finished a quiet day up 0.75 pence per kilo to unchanged on Friday. The official tone at the close was "slightly steadier." Light pre-weekend shortcovering lifted futures during late afternoon. Prices had moved up initially during the day with firmness in the East
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      Straits tin
      156 8 THE Straits tin price in Penang on Saturday was up $16 to $1,806 on an official offering down 75 tonnes to 190 tonnes. In LONDON on Friday, tin on the day rose by £5 for Cash and £2 for Three Months Standard while high grade gained £10 and
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    • Article
      Produce exchange
      321 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PlCl'L ON SATURDAY Coconut Oil Bulk $80 sellers, old drum >85 sellers, new drum $90 sellers Copra: Mixed (loose) UK/Cont $52' a buyers Pepper: Muntok ASTA white Lob 100% NLW $440 sellers. Sarawak white fob 98% NLW $420 sellers. Sarawak
      321 words
    • Article
      Palm oil
      64 8 C.l F N European ports prices quoted in London on Friday tn US dollars per ton Fr>da> Previoui Malaysia 5% tla bulk Dec Sumatra 5% fta Nov December January Feb Mch ROTTERDAM Sumatra: Nov unch 4«0slr 437 50 sir 435 sir 430 sir unch 460 sir 420 sir
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    • Article
      Lead
      59 8 LONDON, Sun. Lead closed £1.50 up for cCash and £2.50 higher for three i months on Friday. Dealers said this market •lacked fresh feature and fluctuated narrowly In very quiet dealings with Three Months trading between £350 and £349 per tonne throughout the day. Market sources anticipate a rise
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    • Article
      Gold
      479 8 THE kllobar market in Singapore opened at $12,998 which was the high of the day and eased off to close at $12,978. In the London market the metal opened at US$ 107.80/80 and drifted off to close at U*****.35/55. Source: Singmas Retail prices per tael quoted by the Singapore
      479 words
    • Article
      Silver
      120 8 LONDON, Sun. Silver closed with gains of mostly 0.2 pence per troy ounce on Friday. Values on the LME eased during the afternoon under fairly brisk liquidation, prompted by the movement at New York. Three Months traded down to 274.8 pence per troy ounce before endweek covering cushioned the
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    • Article
      Zinc
      112 8 LONDON, Sun. Zinc ended the day 14.25 up for Cash and £1.50 up for Three Months on Friday. Afternoon dealings were quiet and Three Months latterly traded on the kerb at £289.50 per tonne. In the morning trading had been featured by borrowing of cash, mainly by one quarter,
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    • Article
      Coffee
      78 8 LONDON. Sun. Coffee prices advanced on Friday as overnight gains in New York triggered demand. At mid-day. Terminal coffee values ranged from £97 to 1'36 higher with a volume of 1,179 lots including 37 options. The tone of the market was slightly steadier. Futures moved unevenly and ended at
      78 words
    • Article
      Copper
      313 8 LONDON, Sun. Copper wire bars on the day showed gains of £5.50 per tonne all round on Friday. The market was steady during the afternoon at around £660 per tonne v for Three Months in sympathy with the trend in US futures, dealers said. Trading was slow. On the
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    • Article
      Soybeans
      334 8 CHICAGO, Sun. Soybean futures were unable to maintain Initial firmness and after gaining around five cents a bushel, retreated to show losses of 41/2 to 6-1/2 cents In early trading on Friday. The market managed the early gains as a lack of selling prompted some speculative support. But the
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    • Article
      Sugar
      128 8 LONDON. Sun. The Veterans Day closure in New York plus lack of fresh fundamental news helped keep Terminal sugar quiet and little changed for much of the afternoon on Friday. The market officially closed quiet at £1.55 up to £0.10 down based on Thursday. The turnover totalled 2340 lots
      128 words
    • Article
      Rice
      459 8 BANGKOK. Sun. Business was reported during the last week In the Government to Government sector with Indonesia. Japan and Malaysia, trade sources said. Very little was done in the private sector as the government was taking measures to slow the rice exports to ensure there Is sufficient rice for
      459 words
    • Article
      Life returns to commodities market
      739 8 OVERSEAS buying Interest breathed some life Into the Singapore produce market last week. Prices held from steady to firm mainly on short-covering and demand generated from the neighbouring consumer countries. For the first time In many weeks, Europe and New York showed keenness for some
      739 words
    • Article
      Wheat
      274 8 CHICAGO. Sun. Wheat futures showed some opening firmness before weakening and showing losses of one to 1-3/4 cent a bushel In early trading. Commission house buying interest lent early support but exporter selling was a weakening Influence and speculative selling Increased as soybean and corn futures extended (heir losses.
      274 words
    • Article
      Cocoa
      246 8 LONDON. Sun. Terminal cocoa attracted modest support in late morning on weekend and chart factors but closed down from traded highs at £3 higher near March at 1*2.084.50 to £12 lower on Friday. Dealers said chart support appeared to build up around the £2,080 mark In near March. The
      246 words
  • MONEY AND EXCHANGES
    • Article
      Singapore market
      140 8 STERLING firmed from $1.8050 to $1.8310 against the dollar following some speculative rumours that Saudi Arabia would accept sterling for oil payments. This firmness was quickly checked when it eased to a low of $1.8000 due to profittaking before moving up slightly to $1.8200. Against the Singapore dollar,
      140 words
    • Article
      Asian $ rates
      275 8 Asian rates ACTIVITY last week was quiet due to holidays in the US. Rates moved towards an offered tendency, helped by drop in money supply. Ml was down $3.4 billion and M 2 was down $2.9 billion. ASIAN currency average deposits rates for the week ended Nov. 11 I S
      275 words
    • Article
      Discount market
      392 8 ARISING from the extremely liquid position In the interbank market, there was a very substantial switch of funds to the discount market in the past weeks. This switch had the effect of tightening the money supply In the Interbank market which resulted In some overnight funds being taken
      392 words
    • Article
      Lock icon Zurich
      565 8 Source: Swiss Bank Corp Zurich. ZURICH. Sun. The dollar fluctuated during the last week and closed mixed against most major currencies. while the pound sterling showed sharp up and downward movements. The yen continued to improve and The D-Mark strengthened against the dollar as well as within the European
      Source: Swiss Bank Corp Zurich.  -  565 words
    • Article
      Euro $ rates
      125 8 Euro rates LONDON, Sun. Trading in eurodollar deposits was very subdued following the holidays in the US and on the Continent, dealers said on Friday. After opening generally 3/16 point lower In response to the reduction In the US money supply figures the rates remained virtually unchanged all day. Shortdates
      125 words
    • Article
      Minimum lending rates
      24 8 1 r hm« r 1 "*~i i |j y~»* J f Jmmmmm^. QatiMiflMA IWWHWMN hi f. M* r ftitz: I urn
      24 words
    • Article
      London
      235 8 LONDON, Sun. Exchange trading on Friday was lacklustre most of the session In contrast to Thursday's nervous movements with deals confined to end-week booksquarlng and a little commercial covering as New York. Paris and Brussels were on holiday and other centres closed early, dealers said. Early demand for sterling
      235 words
    • Article
      Short term money
      38 8 FOR the week ended Friday Nov 11 the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND to GENERAL FUNDS 3\% to 4*%. Movement* of funds totalled $518 mllhon.
      38 words
    • Article
      Frankfurt
      27 8 FRANKFURT exchanges closing quotes on Nov 11. US 2.2493/03 Can 2.0270/90 UK 4.090/97 4.062/89 France 40.06/15 Japan 0.9113/23 Belg com 6.350/360 Belg fin 6.33xer Norw 41.00/10
      27 words
    • Article
      Lock icon Money market
      51 8 Source: Astley Pearce THE market last week was quiet with Overnight easing to close at 3 1/2 3 for the weekend. Terms saw dealers mainly Interested In the threes as It would tide over the festive season. Threes climbed a 1/4 per cent to close at 5 7/16
      Source: Astley & Pearce  -  51 words
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      Page 8 Advertisements Column 1
      165 8 MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE ASM RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide tp the latest developments that have token ploce in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin is divided
      165 words
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  • MONDAY SPORTS
    • Article, Illustration
      OUTSIDER TRIUMPHS
      779 9  -  Silvia's $37,500 putt By ERNEST FRIDA SILVIA Bertolacclnl, 27-year-old daughter of a Argentina doctor, was the surprise winner of the $250,000 Colgate Far East Women's Open golf championship at Buklt Course yesterday. Not only was she a surprise winner, she was also a popular champion. Jane Blalock, who
      779 words
    • Article
      Lock icon VET AT THE HUB OF RACE HORSE PROBE
      1038 9 NYT URUGUAY, Sun. The investigation of the switch of the Uruguayan race horses, Cinzano and Lebon, in the United States this summer is focussing on the activities here in May of Luis Donamari, a small, nervous horse dealer, and Mrs. Allice Gerard,
      NYT  -  1,038 words
    • Article, Illustration
      Lock icon Aussie key to health
      360 9 AIS AUSTRALIA'S latest antihero is a cartoon character called Norm, the armchair sportsman. The overweight and unlovely "Norm takes regular exercise vicariously. Norm Is about to become the nation's best-known identity as anti-hero of a national fitness programme based on encouraging family exercise rather then striving
      AIS  -  360 words
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      Page 9 Advertisements Column 1
      649 9 DDCiI/f Pertanian BaringSanwa JLlJkjlVl Multinationalßerhad Balance Sheet SHARE CAPITAL Ordinary Shares of $1 each: 10,000.000 Authorised 3.000.000 issued and fully paid (Note 4) 4,783 Profit and Loss account 3,004,783 CURRENT LIABILITIES Loans and deposits due withinone year Provision for taxation Creditors and accruals LOANS AND DEPOSITS DUE AFTER ONE YEAR
      649 words
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  • Article
    Lock icon World banking activity turns busier
    207 10 Reuter BASLE. Sun. International banking activity, after a seasonal contraction at the beginning of this year, showed a marked expansion In the second quarter, the Bank for International Settlements (BIS) said. ,„In Its latest quarterly report on Euro-currency and other International banking developments, BIS aald
    Reuter  -  207 words
  • Article
    Lock icon HK will enjoy sustained growth
    135 10 UPI WASHINGTON, Sun. Hongkong's economy should show sustained growth over the next several years, although Its performance has been moderate this year, the Commerce Department said over the weekend. "Hongkong's gross domestic product has been growing at an estimated rate of about 7 per cent
    UPI  -  135 words
  • Article
    Lock icon Oil exporters need not drop the dollar
    899 10 Reuter NYT ABU DHABI, Sun. Venezuelan Oil Minister Valentin Hernandez said yesterday the fall In the value of the US dollar had not seriously affected the purchasing power of the oil exporting states. The Emirates News Agency quoted Mr. Hernandez as saying It
    Reuter; NYT  -  899 words
  • Article
    Tips on breaking into Arab building market
    704 10  -  By SALMA KHALIK TO BREAK into West Asia, local builders need Arab associates, West Asian representative offices, consortium groupings and easier government loans. In the opinion of Mr. Alwee Alkaff, a leading contractor of Arab origin, these are the factors likely to help
    704 words
  • Article
    Lock icon Investment views
    136 10 AP KUALA LUMPUR, Sun. The Japanese delegation to the Japan-Malaysia Economics Association meeting opening here tomorrow will discuss with their Malaysian counterpart the types of investment needed from Japan. The leader of the 24member delegation, Mr. Shlgeo Nagano, said on arrival here yesterday that one of the reasons
    AP  -  136 words
  • Article
    Lock icon Difference over' prices holds up steel deal
    268 10 UPI TOKYO, Sun. Japanese steel makers hope to sell China 2.5 million tonnes of steel products in the second half of the 1977 fiscal year ending next March 31, but disagreements over prices have held up the deal, the financial newspaper Nlhon Kelzal
    UPI  -  268 words
  • Article
    Lock icon Carter slaps fee on import of foreign sugar
    313 10 AP WASHINGTON, Sua. The United SUtM yesterday imposed import fee of 3.3 US cent* (7.92 Singapore cents) a pound (0.45 kilo) on foreign sugar and increased the sugar duty 0.9 cent to 2.81 cents a pound. The additional costs wore recommended by
    AP  -  313 words
  • Article
    Meeting of ICCA begins
    114 10 THE International Congress and Convention Association (ICCA) started its sixteenth general assembly here yesterday. It will last till Nov 19. This is the second time ICCA is holding a general assembly In Asia. The closed-door assembly will consist of a series of workshop sessions to enable
    114 words
  • Article
    Lock icon Franc won't rejoin float before March
    379 10 Reuter PARIS, Sun. French Deputy Finance Minister Robert Boulln said he does not believe the franc will rejoin the European joint float before the French parliamentary elections next March. His remark at an Investors conference organised bv Banque Rothschild follows recent press speculation here
    Reuter  -  379 words
  • Article
    Lock icon US revises budget deficit downwards
    876 10 Reuter Reuter NYT WASHINGTON, Sun. The Budget Office said It eraects a 1978 US deficit of US$5B.5 billion (SSI4O billion), $3 billion smaller than the last official estimate. Acting Budget Director James Mclntyre said his office is now looking at a 1979 deficit "in the
    Reuter; NYT  -  876 words
  • Article, Illustration
    Joint venture in shock absorbers
    403 10 ARMSTRONG Patents Co Ltd of the UK is to set up a Joint venture to manufacture telescopic vehicle shock absorbers In Singapore. This was disclosed by Mr Jonathan Nason, the overseas executive of the Society of Motor Manufacturers and Traders of Britain. Mr Nason is
    403 words
  • Article
    SPANISH AGENCIES
    141 10 SPANISH furniture fittings and builder's brass hardware products companies may award agencies to Singapore firms soon. The director of a Spanish trade mission now In Singapore, Mr. Urbano Gomez, said mission members hoped to award contracts to Singapore companies to be sole agents of their products. These companies
    141 words
  • Article
    Lock icon Task of freeing the world from hunger
    219 10 UPI ROME, Sun. The UN agency in charge of helping the people of the world feed themselves opened a 20-day conference yesterday with a warning that much remains to be done before the planet is freed from "cruel hunger and wretched poverty." The
    UPI  -  219 words
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