The Business Times, 3 December 1977

Microfilm: NL9610
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 SATURDAY, DECEMBER 3, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon US$ at new low
      64 1 Reuter FRANKFURT, Frl. The dollar was fixed at a new record low level on the foreign exchange market here today as the Bundesbank disclosed details of its recent huge support of the US currency. The Bundesbank said it bought US$lB.B million (5545.1 million) when the unit
      Reuter  -  64 words
    • Article
      Lock icon Impossible goal
      67 1 UPI WASHINGTON, Fri. The US unemployment rate was 6.9 per cent in November making it the eight consecutive month of virtually unchanged conditions in the job market, the Labour Department said today. A White House aide said it will be impossible for the Administration to reach its target
      UPI  -  67 words
    • Article
      Lock icon Moderate Venezuela
      64 1 Reuter TOKYO, Fri. Venezuela will take a moderate line at Opec meeting in Caracas later this month, between those member nations which favour a strong oil price rise and those favouring a price freeze for next year. State Minister Hector Hurtado said it is not possible before the
      Reuter  -  64 words
    • Article
      Lock icon Hutchison merger
      74 1 UPI HONGKONG, Fri. Hutchison International and Hongkong and Whampoa Dock shareholders voted today in favour of the proposed merger between the two which has to be approved by the Supreme Court. If approved, the merger will take effect on Dec. 21. Trading of the two companies' stocks on
      UPI  -  74 words
    • Article
      Lock icon JAL strike
      56 1 Reuter TOKYO, Fri. More than 8,000 Japan Air Lines (JAL) passengers were affected here today when two unions staged a second 24-hour strike in successive days over demands for better working conditions. The strike by cockpit and cabin crew unions prevented 72 of 119 scheduled international and domestic
      Reuter  -  56 words
    • Article
      Lock icon Summit in Bonn
      56 1 AP BONN, Fri. A West German spokesman confirmed that preliminary planning was underway to hold the fourth economic summit conference of major Western industrial nations in Bonn. President Carter's press secretary, Jody Powell, indicated yesterday that Bonn was being considered as a site for next year's meeting,
      AP  -  56 words
    • Article
      Lock icon Dow Jones
      75 1 UPI NEW YORK, Fri. Prices moved higher in the first hour of moderately active trading on the New York stock exchange today. Analysts suggested some of the markets strength stemmed from the Federal Reserve Board report of a large decline in the basic money supply. The Dow Jones
      UPI  -  75 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      168 1 THE Singapore stock market closed on a mixed note after some late buying support countered some early weakness in quiet trading yesterday. The Business Times index closed 1.52 points lower at 479.60 while the Straits Times Industrial index inched 0.13 point up to 265.81. Rites Most octive
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    • Article
      In Kuala Lumpur
      109 1 Rises Most active Kllllnghall Inch Kenneth 19.00 1.50 M. Weaving 586,000 2.90 .40 Federal Cables 179,000 Oriental 3.58 .18 Pan Elect 121,000 Malex 3.30 .10 Sentosa 106,000 Petallng 8.50 .10 Total Turnover: 2.482 M M. Weaving 1.36 .07 Total Value: M84.439 M Utd Plant 2.13 .06 Hume
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  • Article
    Cement makers form cartel
    890 1  -  CONTRACTORS PROTEST PRICE HIKE By RONNIE LIM THE five cement manufacturers in Singapore have formed a cartel, raising their prices by about 11 per cent. Distributors and manufacturers who breach the cartel conditions will be penalised. For Instance, manufacturers will be charged $40 per tonne for
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  • Article
    Bond proceeds for new planes
    266 1 SINGAPORE Airlines will, use the $147 million proceeds to be raised by the Government on the Japanese capital market. for the, purchase of DC-lOs as well as another two wide-bodied aircraft to service the US route. The airline's house magazine. Outlook, said the 15 billion
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  • Article
    Ong Hongkong associate to issue shares
    773 1  -  •y JOHN TAN THE Hongkong sister company of Singapore's largest local stockbroklng firm, Ong and Co, is making a private placement of 10.3 million HKSI.OO shares In the British colony. The issue, at a premium of 10 cents, will raise the Issued capital of
    773 words
  • Article
    Offer by Sin Chew slows cash supply
    451 1  -  h COLIN CHEE OCTOBER showed that a popular equity offer on the ptock market can cause aberrations, if only temporary, to the money supply. According to the Monetary Authority of Singapore (MAS), the 81n Chew Jit Poh public share issued led to slower
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  • Article
    Malaysian bid to adjust sugar pact with CSR
    298 1 KUALA LUMPUR, Fri. Malaysian ana Australian negotiators are back at the bargaining table to try to redraw the tone-term sugar agreement signed between the two countries in 1974. Negotiations reopened in Sydney this week between a Malaysian technical team and the representatives
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  • Article
    System to prevent run on banks urged
    506 1  -  ■y SOH TIANG KING SINGAPORE should Introduce the deposit guarantee system to prevent runs on banks triggered by panic-stricken customers. This system Is proposed by two dons from the University of Singapore, Mr. Chua Joon Eng and Dr. Hong Hal. Dr. Hong, lecturer
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  • Article
    British reserves
    81 1 LONDON, Fri. The buildup of Britain's gold and currency reserves slowed last month but the Increase still took the level to a record U5520.39 billion (SS49 billion), the Treasury announced. The reserves rose by $183 million, the smallest Increase for six months. In September the rise was $2.32
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      41 1 c> SEE PAGE 5 INSIDE Market Reviews/ TV Radio P2 (overseas News P3 Local Co. News P4 International Co. News P5 Local Stocks M Overseas Stocks P7 Commodities pg Transport 4 Communications P9 Features PlO Local Jk Overseas N**' Pll, 12
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    • Advertisement
      Page 1 Advertisements Column 2
      182 1 \^fehavea history of making j our depositors' savings grow The history of Lombard North Central goes back more than 100 years. So it's really no sur- J prise that our steady growth has made us an im- portant name in British banking and finance. Individuals and institutions the world over
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    • Advertisement
      Page 1 Advertisements Column 3
      145 1 COPIES ANYTHING. FITS ON A TABLE-TOP 4SE<JfI«BUSIMESS QUdRTERi The Autumn issue of the ASEAN Business Quarterly includes a 5-page analysis of ASEAN's urea projects and finds these to be less than viable (12 tables) a 15-page analysis of the impending world energy crisis and the likely economic effects on ASEAN
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  • MARKET REVIEWS
    • Article
      MLR hike causes ill-feelings
      717 2  -  LONDON BY GERALD COLVERD CITY traditionalists have been holding their hands over their ears to block out some of the most severe criticisms made of the Bank of England's attitude towards the 2 per cent lift In the key minimum lending rate (MLR) a week ago.
      717 words
    • Article
      ST. PIRAN TO DOUBLE
      173 2 TIN mining group St. Plran, which operates from Thailand to Cornwall, England, Is expected by London analysts to report a near doubling of profits when It reports on Its first half trading on Dec. 13. Sales turnover is expected to have risen £2 million (558.64 million)
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    • Article
      KUALA LUMPUR
      241 2 BELECTED speculative second and third liners were singled out for play on the Kuala Lumpur Stock Exchange this week, suggesting the return of some syndicated operators In strength. Bullish interest enabled most of the counters to finish higher after a quiet opening which was characterised by narrow price
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    • Article
      Lock icon SYDNEY
      98 2 Reuter PUBLIC opinion polls showing a swing back to government popularity brought renewed confidence to the Sydney stock market, which closed generally higher this week after early easiness. Dealers said market leader BHP closed 18 cents higher at A 55.34 while CSR gained eight cents to $2.88. Uraniums posted
      Reuter  -  98 words
    • Article
      SINGAPORE
      709 2 THE LIS TING of Sin Chew Jit Poh shares on Tuesday brought an otherwise lacklustre Stock Exchange of Singapore to life. However, the bullish activity only lasted until Thursday before the market settled to a more leisurely pace yesterday. The reception to the listing of Sin Chew was similar
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    • Article
      Company news for the week ended Dec 2
      333 2 Ate 4: m ■■■■f >p« «ry wn ViWl rvny OTHERS Sombawang Shipyard with Its parent company, Sembawang Holdings, has formed a new subsidiary. Called Sembawang Shipping Company, this new Joint-venture company has an authorised share capital of $20 million and Its object
      333 words
    • Article
      Lock icon Britain may want to keep IMF facility
      662 2 Reuter LONDON, Frl. Although the British people are hardly aware of it, this country has made a dramatic financial recovery over the past year and the extent of this Is now being studied by a visiting team from the International Monetary Fund (IMF).
      Reuter  -  662 words
    • Article
      Lock icon Lords 'no' to RTZ execs testifying in US case
      309 2 AP LONDON, Frl. The House of Lords ruled yesterday that seven executives of Britain's Rio Tlnto Zinc companies cannot be compelled to give evidence In an American court case Involving uranium price fixing. Five Law Lords, sitting as Britain's highest court,
      AP  -  309 words
    • Article
      Lock icon Easier Fed monetary stance may emerge
      440 2 Reuter NEW YORK, Fri. The first glimmer of hope In recent months Is emerging that the Federal Reserve Board may be able to slightly ease Its monetary stance. Analysts said this would depend on the recent moderation In money supply growth continuing for a
      Reuter  -  440 words
    • Article
      Lock icon Factory orders up
      130 2 Reutar BONN, Frl. New orders received by West Oerman manufacturing Industry rose a seasonally adjusted 4 per cent In October over the upward revised September level, the Economics Ministry said. New foreign orders In October rose by 13.5 per cent after a 9.5 per cent slide in
      Reutar  -  130 words
    • Article
      Canada expects an economic upturn
      191 2 BONN,' Frl. Canadian Minister of Industry and Commerce Jack Horner said he hopes for an economic growth rate of around 4.5 per next year, adding that "we are shooting for 5 per cent." While 5 per cent may be a little excessive, he said, "we
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    • Article
      LIVE POSB DRAW
      67 2 THE POST Office Savings Bank Centenary Lucky Draw will be telecast "live" in colour over Channel 5 of Television Singapore today at 6.55 pm. The lucky draw, will take place during the onehour POSB show featuring songs and by top local and foreign artistes including The Sandgpers,
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  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      534 2 f SCOTT FTTZG£RAi_D 111 11M P(((S This months new Penguins The Last Tycoon: F. Scott Fitzgerekt Exhausted by Hollywood hackwork, Fitzgerald died before he could complete the book that many people regard as his masterpiece. His bittersweet novel of Hollywood in the thirties is now a Paramount film due to
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      33 2 WEATHER report for 24 1m Dae 2 at Singapore airport. Miri— Temperature Aaoociated Humidity Aaaociated Humidity Hours of Sunshine Rainfall in Millimetres Total Rainfall far the Month' Total Rainy Daya far the Month
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      309 2 SINGAPORE 5 1.00 PM Opening announcements followed by Sesame Street 0 2.05 Saturday Matinee Homecoming Starring: Clark Gable, Lana Turner, Anne Baxter 3.55 Soccer Quadrangular Arsenal Vs Red Star Belgrade (EnglishRepeat) 4.55 Sandiwara A Malay drama entitled "Maslina" with English subtitles (Repeat) 5.40 Bonanza The Power Of Life and Death
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  • OVERSEAS
    • Article
      Lock icon Door still open, West tells Third World
      843 3 AFP AP GENEVA, Frt. The Industrialised countries Group B in the negotiations here to set up a common fund to stabilise commodity prices regretted the Third-World states' successful request for suspension of the talks. Mr Gorden Barras of Britain, chairman of the group,
      AFP; AP  -  843 words
    • Article
      Lock icon UN urged to ban oil to Pretoria
      438 3 AP UNITED NATIONS, Frl. A British economist has said that five Western companies continue to supply oil to Rhodesia via South Africa and urged the United Nations to impose an oil embargo as a "logical extension" of the arms embargo against South Africa.
      AP  -  438 words
    • Article
      Lock icon Attempted fraud
      112 3 Reuter TOULOUSE (France), Frl. Five men were yesterday sentenced to jail terms of up to four years in connection with an attempted multimillion dollar fraud involving ficltious Arab princes. The men, including two executives of the stateowned Soclete Generale Bank, were arrested last July after promissory notes for
      Reuter  -  112 words
    • Article
      Lock icon Record gold contracts delivered in Chicago
      96 3 Reuter CHICAGO, Fri. A Record 2,356 fold contracts, valued at nearly US$3B million (5590.3 million) were delivered on the Chicago Mercantile Exchange yesterday. It was the largest number of contracts ever to be delivered on a single day in .the 58-year-old Exchange. Gold is
      Reuter  -  96 words
    • Article
      JOBLESS RATE WILL DROP
      125 3 WASHINGTON, Frl. White House Secretary Jody Powell said Mr. Carter's advisers are optimistic that US unemployment will drop to about 5 per cent by 1981. Mr. Powell said so when asked if the President agreed with Federal Reserve chairman Arthur Burns' statements that the current 7
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    • Article
      Lock icon German wages seen to rise
      154 3 Reuter BONN, Frl. Gross wages and salaries In West Germany are expected to rise by 5.5 per cent In 1978 with unemployment averaging around one million, an inter-minlsterial working party estimated. An Economics Ministry spokesman said, however, these expectations cannot be regarded as official government
      Reuter  -  154 words
    • Article
      Lock icon ONCE AGAIN, PORTUGAL IS ON THE BRINK
      576 3 NYT LISBON, Fri. Unable to solve a growing economic crisis, the Portuguese now face a political showdown In which the minority socialist Sovernment of Prime [lnlster Mario Soares could fall within days, unless a way out can be found. The confrontation comes at
      NYT  -  576 words
    • Article
      Lock icon ... help on the way with $1.6b loan
      142 3 help on the way with $1.6b loan Reuter LISBON, Frl. Negotiations for part of a US$75O million (Ssl.6 billion) me-dium-term loan for Portugal from 14 Western or industrialised nations are complete or in their final stages. The Bank of Portugal said terms for the major lenders, the United States and
      Reuter  -  142 words
    • Article
      Lock icon Zaire granted reprieve by its major creditors
      462 3 Reuter PARIS, Frl. Zaire's main creditor nations agreed «to re-schedule interest payments due In the second half of this year on past loans granted or guaranteed by foreign governments. Sources said officials from the 10 creditor countries, meeting within the framework of the
      Reuter  -  462 words
    • Article
      Lock icon Philippines gets EEC sale
      74 3 AFP MANILA, Fri. A fourth trade mission dispatched by the Philippines to the European Economic Community has negotiated the sale of more than US$3 million (557.2 million) worth of export products. Trade Secretary Troadlo Qulazon Jr. said the transactions concluded with Dutch contractors covered plywood amounting
      AFP  -  74 words
    • Article
      Lock icon Single-digit UK inflation still within grasp
      286 3 Reuter LONDON, Frl. A spokesman for the Confederation of British Industry (CBI) whose leaders today met Chancellor Denis Healey and Employment Minister Albert Booth said both sides agreed that single-figure price Inflation is possible in Britain throughout 1978 so long as the present breach
      Reuter  -  286 words
    • Article
      Lock icon Swiss reserves rise $720 m
      262 3 Reuter ZURICH, Frl. The Swiss National Bank said its foreign exchange holdings rose 655 million francs (SS72O million) to 14.77 billion in the last week of November. The bank said the rise was due mainly to an excess of foreign exchange intervention purchases over currency
      Reuter  -  262 words
    • Article
      Lock icon Hope for 50pc limit on US tax fades
      776 3 NYT WASHINGTON, Frl. The plan to put a 50 per cent limit on individual Income tax rates, a key part of President Carters tax reform programme, will probably be abandoned. Administration sources said deferral of several reve-nue-raising reforms will weaken the case
      NYT  -  776 words
    • Article
      Lock icon Lance wants to sell at twice the value
      306 3 AP WASHINGTON, Frl. An attorney for Mr. Bert Lance said yesterday that Mr. Lance is negotiating a deal to sell the Georgia Bank stock that precipitated his downfall as President Carter's Budget Director. Mr. Robert Altman said Mr. Lance was Involved with
      AP  -  306 words
    • Article
      Lock icon Barclays ups rate
      133 3 Reuter LONDON, Frl. Barclays Bank said It will raise base rate to "7.5 per cent from 6 per cent, effective today. At the same time deposit rates will rise to 4.5 per cent from 3 per cent. Barclays senior general manager Douglas Horner said the bank had
      Reuter  -  133 words
    • Article
      Lock icon COSTA RICA GOES TO EUROMART
      74 3 Reuter LONDON, Frl. Costa Rica Is raising US$42 million (SSIOO million) in the Euromarket through, two sevenyear loans, both at 1*« per cent over London Interbank Offered Rates (LIBOR). Bankers said Guinness Mahon and Co Ltd is arranging a $28 million loan for the Republic
      Reuter  -  74 words
    • Article
      10 years behind
      57 3 TOKYO, Frl. Japan's social security system is 10 years behind Western Industrialised countries. Disclosing this, a white paper on public welfare noting that Japan is rapidly moving toward an elderly society under a low-growth economy. The paper calls on the nation to share more of the financial
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      125 3 Where the Action is... Situated in Orchard Road— the centre of tourist shopping and hotel hub in Singapore 1/ hjna i c .nOr .tvf JR «j neiqhhour.ng C K T <h«: Fit.'i i" k s Su: O.t-r S-.t-n hundred shops for f .f-ry tr fco(j .r*r handicraM ■ntr.- Department;-' S!oJ"infem.i'.Qnal
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  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      190 3 I CROSSWORDS I Cryptic Solution ACROSS 4, Master, 7, Waterloo. 8, Treble. 10, Loire. 13, Goes. 14, Lld-O. 15, Form. 16, Art. 17, Mail. 19, O-Rly. 21, Dare-d-evil. 23. Toni. 24, Clef. 28, Bug. 27, Slum. 29, Laid. 32, Leap. 33, D-Ella. 34, De-test. 35, Ex-a-mlner. 38, Sphinx. DOWN. 1,
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  • COMPANY NEWS
    • Article
      Singapore Glass earnings up
      489 4 M. CONTAINERS DOES WELL THE latest interim results announced by the two halves of the former Malayan Containers group Singapore Glass (1974) and Malaysian Containers reflect continuing benefits from improved productivity and cost control. Both companies reported higher earnings for the first six months ended Sept
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    • Article, Illustration
      Tronoh group gets a new chairman
      366 4 AN important boardroom change took place this week in the Tradewinds group of tin companies. Encik Junus Sudln, chairman of New Tradewinds and Pernas Securities replaced Mr. J.O. Richardson as chairman of Tronoh Mines Malaysia and its associates. Ayer Hitam Tin Dredging Malaysia and
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    • Article
      LATEST RESULTS
      116 4 CONSOLIDATED Plantations: Group pre-tax profit M 520.70 million ($17.81 million) for the first quarter ended Sept 30, 1977. Tax $9.23 million ($7.85 million), minorities $10,000 (nil) leaving net attributable profit at $11.46 million ($9.96 million). Sales of palm oil 26,000 long tons (24,000 long tons), palm kernel 5,000
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    • Article
      Petaling Tin profit hits record high
      313 4 EARNINGS at PeUlinc Tin •urged to record high for the year ended Oct 31, 1977 in line with the buoyant tin metal price. Group pre-tax profit for the year under review rose to MS 10.05 million, an increase of tome 33 per cent over
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    • Article
      DIVIDENDS ANNOUNCED
      276 4 CWTMIt b DM* Date payable Total for the year TMalfcr preview ye CIimm|y Kuala Sidlm PMRI Auatral Enterprieee Talam Miaee BafcHyd PMC Bwrilm TiwfcCwl Mineral SecuritiM Toahiba UIC B.M. TVust Sovran KLulat Kramat UlandftP Koala Kiapir Metal Box S'pore S'pore Land T.Harbour Solaaffor Dradctac Bo u« lead Jack
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    • Article
      Sungei Besi on the road to recovery
      460 4 A SUBSTANTIAL Increase In tin output and prices In the first half of the current financial year ending March 31, 1978, has taken Sungei Besi Mines Malaysia out of the red and on the recovery path. It Is likely that the company's earnings
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    • Article
      KL firm cashes in on skate-board craze
      1202 4 A BUMIPUTRA company near Alor Star has been given the golden opportunity to cash In on the skate-board craze new sweeping the United Kingdom and Europe. Through Its connection with an International buying agencny, P.S. Addison Sdn Bhd, it has secured substantial orders
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    • Article
      Lock icon US steel demand firms
      317 4 FT NEW YORK: Leading steelmarkers In the US are reporting signs of an easing In .the recent Intense price competition from European and Japanese exporters, because they are raising their prices. This Is being reflected in a firming of demand for US steel, the US producers
      FT  -  317 words
    • Article
      Sony expects revenue to top 500b yen
      151 4 SONY Corp Expects to report a 10 per cent gain in consolidated net income and revenue tor the year ended Oct 30, 1977 over the previous year's 30.09 billion yen and 463.53 billion respectively. President Kazuo Iwama told reporters the figures will be
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    • Article
      COMPANY MEETINGS
      99 4 THE following company meetings are due: Kuala Sidim Rubber Co Bhd: Dec 5 at Its registered office. 50 Jalan Ampang, Kuala Lumpur. Malaysia at 12 noon. United Holding* Bhd: Dec 15 at its registered office, 4th floor, Wong Shee Fun Building, Jalan Ah Fook, Johore Bahru, Johore, Malaysia
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    • Article
      PEOPLE IN BUSINESS
      140 4 THE Chase Manhattan Bank,, N.A., has promoted Mrs. Anne Leong to assistant manager-operations ACU, Mrs. Betsy Tan to assistant manager-retail banking, and Mr. Robert Tan to assistant managerpersonnel services. Mrs. Leong joined Chase In March IWSB at Chase's Orchard Road branch. In 1970 she was transferred to
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    • Article
      INTRACO
      43 4 INTEACO has acquired a 24 per cent equity stake In Polsln. Revealing this to the Stock Exchange of Singapore, Intraco said its stake worked out to 75,000 shares of $1 each in the company. Intraco, however, did not reveal the purchase price.
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    • Article
      CHICAGO BOARD OPTIONS
      1510 4 December 1 Volume on the Chicago Board Options Exchange slipped to 102,856 contracts from 137,104 yesterday. Advances led declines 279 to 229. OPTION JAN APL JLY STOCK Alcoa Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel Am Tel AUR AUR Avon Avon-P Avon Avon-P Avon Avon-P
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      170 4 COLLECTINO Oriental fINTio^EJ by Judith Moorhouse and Dries Blitz I~i3 Hamlyn Group, London. Oriental antiques have always fascinated collectors throughout the world, evoking as they do the exotic and Inscrutable East. It Is, however, widely believed that they are too expensive for the average collector. This myth Is perpetuated by
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  • Article
    Lock icon California to limit unitary tax application
    130 5 NORTH AMERICAN COMPANIES Reuter CALIFORNIA state Governor Jerry Brown confirmed he wants to limit the application of the state's unitary tax system on foreign companies based In California. Brown said he was doing this through support for the US-UK double tax treaty or, if
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  • Article
    Lock icon Rapid Corp exchange offer
    95 5 Reuter RAPID-AMERICAN Corp said under Its exchange offer it received tenders for about $173 million principal amount of its six per cent sinking fund subordinated debentures due 1988, for which it will issue about $130 million of a new 10% per cent sinking fund subordinated debenture
    Reuter  -  95 words
  • Article
    Lock icon Gulf feels crude oil surplus will continue
    582 5 Reuter GULF OH Corp expects a continuing surplus of certain grades of crude oil on the international market for several years. Edward Walker, president of the company's Oulf Energy and Minerals Co subsidiary, told analysts the worldwide oversupply will be due primarily to
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  • Article
    Lock icon RCA hopeful
    119 5 Reuter RCA Corp expects Its 1977 profit to be well above $200 million, compared with 177.4 million or $2.30 a share in 1976. President Edgar Griffiths told analysts most areas of the company's operations will contribute to the improvement. He cited, in particular, the television set and picture
    Reuter  -  119 words
  • Article
    Lock icon Hutchison and Whampoa merger cash offer
    191 5 ASIAN COMPANIES Reuter CASH elections have been received for about 88.5 million participating preference shares in Hutchison Whampoa, the holding company to be formed for the proposed merger of Hutchison International with Hongkong and Whampoa Dock Co (HK Dock). Under the merger Proposals, Hutchison
    Reuter  -  191 words
  • Article
    Lock icon Minnesota
    65 5 Reuter MINNESOTA Mining and Manufacturing Co expects an excellent year in 1978. Chairman Raymond H.Herzog told analysts the company Is very satisfied with growth in its photographic division and sees an upturn in graphics operations earnings. He also said the company expects Improved earnings in its technical recording operations.
    Reuter  -  65 words
  • Article
    Lock icon Prospects for BH South dividend
    289 5 Reuter THE prospects of BH South resuming dividend payments depend on reduced losses at its Queensland Phosphate unit. Chairman J.M. Tyler told the annual meeting the best way this could be achieved is through the proposed sale of part of the equity In the phosphate
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  • Article
    Lock icon Emperor cuts work force
    105 5 Reuter EMPEROR Mines will cut the mining workforce at Its Fiji gold mine to 300 from 1,300 following advice from the Fliian Government that it could not give the mlhe any further assistance. Emperor had a loss of $1.33 million (loss 382.000) for the year ended
    Reuter  -  105 words
  • Article
    Lock icon Western expects lower first half
    100 5 Reuter WESTERN Mining Corp chairman Arvl Parbo told the annual meeting he expects first half 1977/78 operating profit will be materially less than for the first half last year and said it is not possible to predict the full year result at present. Consolidated net
    Reuter  -  100 words
  • Article
    Lock icon Toyota Motor mum
    87 5 Reuter TOYOTA Motor Co has declined comment on a Nlhon Kelzal Shlmbun report that It will abandon a plan to*increase its ordinary dividend for the current year ending June 30, 1978 because the yen's appreciation has affected business. The report said the com- pany's profit before-tax and
    Reuter  -  87 words
  • Article
    Lock icon Engineer behind the Kuhn Loeb – Lehman merger
    738 5 Engineer behind the Kuhn Loeb Lehman merger NYT NEW YORK: Barely four years into a new career as an Investment banker, Peter G. Peterson on Monday became the prospective chairman of the combined securities firms of Lehman Brothers and Kuhn Loeb and Company. Since the Wall Street landscape Is littered
    NYT  -  738 words
  • Article
    Lock icon Escalating costs continue to trouble U. Carbide
    196 5 Reuter UNION Carbide Corp's plans for the future assume that 1978 will be a very tough year. Chairman William Sneath told analysts. He foresees slower growth and "the persistence 01 problems that have put us In a cost-price squeeze this year." The company
    Reuter  -  196 words
  • Article
    Lock icon Turnround at Bache last month
    194 5 Reuter BACHE Group president Harry Jacobs Jr told the annual meeting the company had a very substantial Increase In November gross revenues and October's trading losses have been stopped as a result of the turnaround In the bond market. Bache last week reported a loss
    Reuter  -  194 words
  • Article
    Lock icon Hydro-Quebec
    74 5 Reuter BANKING sources In New York confirmed talks with officials of Hydro-Quebec have been taking place on the possibility of arranging syndicate for an International loan, totalling as much as $750 million. However, the sources said the talks are very preliminary and there has been no effort yet to
    Reuter  -  74 words
  • Article
    Lock icon BP third quarter earnings hit by weak dollar
    769 5 EUROPEAN COMPANIES Reuter THE weakness of the dollar against sterling and the low level of world economic activity adversely affected British Petroleum's earnings In the third quarter of this year. Net income for the third quarter amounted to £44.1 million, down 15
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  • Article
    Lock icon Texaco-Gulf Oil venture
    123 5 Reuter TEXACO and Gulf Oil (Great Britain) have formed a partnership, Pembroke Cracking Co, to build, own and operate a 65,000 barrel per day fluid catalytic cracking unit adjacent to their refineries on the Mllford Haven estuary In South Wales. No financial details were available. The cracker
    Reuter  -  123 words
  • Article
    Lock icon Barclays disposes of bank stake
    106 5 Reuter BARCLAYS Bank International has sold its 5.9 million share holding in the Australian and New Zealand Banking group. The shares were placed with institutions in Australia. The sale raised about As2o million which will be used to finance Its purchase of a 50 per
    Reuter  -  106 words
  • Article
    Lock icon Rio Tinto need not give evidence
    84 5 Reuter THE House of Lords, Britain's highest appeal court, has ruled that no evidence should be given by Rio Tlnto Zinc Corp or its executives In the US court case between Westlnghouse Electric Corp and Power Utilities In Richmond Virginia. Costs of the proceedings
    Reuter  -  84 words
  • Article
    Lock icon Enka Glanzstoff cuts its shortfall
    92 5 Reuter AKZO NV's German subsidiary Enka Glanzstoff will make a loss this year of less than Its 58.9 million mark shortfall in 1970, but the drop will be below the 30 to 40 per cent originally hoped for, a company spokesman said. Sales will be
    Reuter  -  92 words
  • Article
    Lock icon Deutsche Bank operating profits higher
    170 5 Reuter DEUTSCHE Bank said Its operating profit In the first 10 months of this year was 20 per cent higher than the average for the year-ago period. Its interim report gave no figures but said the trend results from the higher net interest surplus as
    Reuter  -  170 words
  • Article
    Lock icon Peugeot
    43 5 Reuter AUTOMOBILES Peugeot part of the PSA PeugeotCitroen group, said It expects its results this year to be at least equal to those of 1976, when It earned a net profit of 531.7 million francs, up from 109.7 million In 1975. Reuter.
    Reuter  -  43 words
  • Article
    Lock icon Dresdner Bank income rises
    413 5 Reuter DRESDNER Bank's operating profit rose by 10 per cent In the first ten months of this year, management board spokesman Helmut Hausgen said. Contrasting this with the 20 per cent increase reported by Deutsche Bank, which he did not mention by name, he said Dresdner's
    Reuter  -  413 words
  • BRIEFLY
    • Article
      Lock icon Electro watt
      71 5 Reuter THE 81 million franc, eight-year 3 per cent option loan floated by Elektrowatt at par was oversubscribed, Credit Suisse said. Bond market sources noted the loan attracted special attention after Swiss Bank Corp declined to participate in the management group because it found the conditions unattractive and
      Reuter  -  71 words
    • Article
      Lock icon YIB
      60 5 Reuter THE Yugoslav Investment Bank plans a 50 million mark maximum seven-year private placement, probably wlttfan 8 per cent coupon and par pricing, primary market sources said. The placement will carry one year of grace giving an average of eight years, they added. The sources said lead manager Bayerische
      Reuter  -  60 words
    • Article
      EIB
      34 5 THE indicated coupon on the European Investment Bank £25 million 15-year Eurobond has been Increased to 9 3/4 per cent from 9 1/2 per cent lead manager Credit Suisse White Weld said. Reuter.
      34 words
    • Article
      Lock icon Kubota
      29 5 Reuter KUBOTAS'S 30 million j mark five year 5 1/4 per cent private placement was i priced at 991/2 per cent lead manager Westdeutsche Landesbank Glrozentrale confirmed. Reuter
      Reuter  -  29 words
    • Article
      Lock icon Daiwa Seiko
      60 5 Reuter THE Dalwa Seiko public offering of 4.5 million 50 yen common shares, evidenced by European depositary receipts, has been priced at $1,948 per share. This represents a 5.31 per cent discount on the closing ?rlce of 490 yen on the okyo Stock Exchange on Nov 29. The
      Reuter  -  60 words
    • Article
      Lock icon Investerings
      63 5 Reuter THE Natlonale Investerlngsbank said It plans to float a 100 million guilder 8 1/4 per cent debenture loan due 1979/ 88 to be priced on Dec 7. The loan will be redeemed In ten nearly equal annual instalments, starting Jan 15. 1979. Early full of partial redemption is
      Reuter  -  63 words
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      Page 5 Advertisements Column 1
      87 5 International Bank of Singapore All Domestic and International Finance Fully authorised to conduct all types of banking including Foreign Exchange, Asian Currency Unit Deposits and Loans in convertible currencies and the issue of Singapore Dollar Negotiable Certificates of Deposit. Podium 107,15t Floor, DBS Building Shenton Way, Singapore 1. Telephone: *****80
      87 words
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  • Article
    Share Information Service
    2327 6 1*77 Hif h Low Compaay Last Sale +«rGr's Gr'» Net div Div y'M P/E e'rr Vel COM) HI Day gk Ln i~~ SECTION ONE INDUSTRIALS 154 204 no 240 88* 205 100 259 422 140 134 105 58 212 57* 155 152 182 350 91 A cms
    2,327 words
  • Article
    Transactions in Singapore
    1037 6 M) —< alta prtaaa <mc*aUy VWiflW M 'saUtaTmt (Wnm in qpata* atar tha «H "SaO." Big BaarO Oaata (la te«aMuto)tri<wM«Nr SECTION ONE INDUSTRIALS Ami (1.3T8 I.M) Alaaa (1MB) AIM aim (I.OTB 1.018) (I) I.M (1) I.OT SETT (1.006) Bm (O.MWB 0.838) (4) 0.03 (3) O.BH SETT (1)0.04
    1,037 words
  • Article
    In Kuala Lumpur
    1344 6 friom -ffletally «»> LN. ■N w i7iV_i I_J S i rr <«) IM, (8) 1.39. <4* Koala Lumpur Stock b. i 1-41, (W) 1.4#. Cramer yaatarday with tka ,l IMB »•»■> <*> IM. J* ("dad afcowa la brackau o Barawfa* ft inn < Vinn? > T~™SS»u 15:
    1,344 words
  • Article
    Stock options
    75 6 STRIKING prices of (he stock options officially listed on the Stock Ex* change of Singapore, the periods, bid end offer prices end business done yesterday, with the number of options traded shown in brackets. C and C (Dec $1.90) (0.618 O.MS). (Dec 52.30) (0.198 0.245). 0 72S) rCh
    75 words
  • Article
    Unit trusts
    140 6 SINGAPORE UNIT TRUST INCOME BOND UNIT JMaaacars' prica a tar Dec 1) iCumai a "toss) The Commerce 1.77 l.M INCOME BOND l m i ij The Saving Fund 8'pore Prog Fund 106 1.12 0.M OH MARA BL'MIPUTRA FUND 8'pore Security Fund S pore Invest Fund 1« 1.71 1.03
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  • Article
    CORPORATE BONDS
    98 6 B O T 8 1/2% IMI (100,000) Jloo*B 101 *8) I O T 7 S/8% IM4 (100.000) (97*8 988) LTCBJ 1982 (100,000) (98HB 99*8) Credit Lyonnaia Floetiag IMS (100,000) (S6WB 908) DBS Convert* C l/)% IMI (100,000) (968 978) D B 8 8 1/1% I*B2 (100,000) (93*8 1008)
    98 words
  • Article
    GOVERNMENT BONDS
    97 6 Mp Spore D Mark 7% 1982 (100,000) (102HB 102H8) R*P Spore 6 1/2% 198S (100,000) (102WB 102%8) R»p Spore 7 J/4% 1987 (100,000) (99W8 100H8) 4 1/4% 1/8/79 (250,000) (100.SOB 100.588) 1/4% 11/18/79 (250,000) (101.108 101.208) f J/4% 1/1/78-80 250,000) (101.008 101.308) 8 J/4% 18/8/89 (250,000) (103.50B) 1
    97 words
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      Page 6 Advertisements Column 1
      633 6 m m sinGapura FORUM HOTEL Onwon of MM> Continental "nlil, 585 Orchard Road, S'pore 9. Tel: *****2 Pebble Bar Experience the unique expression of Tanla Great Sound Big Show You'll love the dynamic and versatile Tania For memorable yester hits and todav's favourites. s Only happens at the Pebble Bar
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  • Article, Illustration
    DRIFTING LOWER
    600 7 SOME late buying Interest counteracted early wee knees in quiet trading an the Stock Exchange of Singapore yesterday. The steady tread of the previous day was felt only during the opening hour. The market tended to drift lower for the better part of the day and only perked
    600 words
  • Article
    KL TRADING MODERATE
    371 7 STRONG buying support In a few selected shares towards the closing bell made for a slightly steady market on the Kuala Lumpur Stock Exchange yesterday. Trading was moderate. Share prices were marked fractionally higher In quiet conditions at the opening but drifted lower towards the noon close.
    371 words
  • Article
    Hongkong
    319 7 HONQKONO: The market closed slightly firmer yesterday In moderate trading buoyed by hopes of a conclusion of the textile talks between Hongkong and the EEC shortly, dealers said. The Hang Seng Index roee 1.15 points to 421.72. They said approval by HK Dock minority shareholder* of the merger with
    319 words
  • Article
    Tokyo
    510 7 TOKYO: Share prices closed higher In active trading yesterday with investors anticipating Increased government spending for public works to help boost the economy, dealers said. The Dow Jones average rose 32.58 to close at 4,945 "70 with volume $330 million shares The New index closed at 367.73, up 1.02.
    510 words
  • Article
    Sydney
    416 7 SYDNEY: The market closed easier on profit taking yesterday after gains earlier in the week and caution ahead of the 1 Dec 10 election, dealers said. The Sydney All-ordlnarles rose 0.3 point to 440.55. BHP fell A 6 cents to $5.34 while the National Bank eased five to $2.45.
    416 words
  • Article
    Manila
    147 7 MANILA: The market closed mixed yesterday with minings up, oils down marginally and commercials steady, dealers said. Turnover rose slightly to 2.24 million pesos from Thursday's 2.22 million Atlas rose one point while other mining Issues were slightly higher In oils, local Trana-Aaia and Basic Patrslaw lost one point
    147 words
  • Article
    Bangkok
    116 7 DEC U Bahts Asia Fibre 288 -2 Bangkok Bank 387 unch Bangkok Invest. 322 -22 Bangkok-Metro-politan Bank Bata 756 BerllJucker MM unch Charoong Thai Wire 325 -7 Dumex Dusit Thanl Fiber Merlin First Trust 311 -14 Genera Finance Indo-Thai Industrial Finance Corp 2145 +40 J And J Ho 380
    116 words
  • Article
    Amsterdam
    285 7 AMSTERDAM: The market closed slightly lower on Thursday after a steady opening, dealers said. Dutch internationals were mixed but losses predominated. Philips and Akso were lower while Royal Dutch was unchanged. Elsewhere trading and industrial stocks fell. Insurances were mixed while most banks firmed. Transports rose. State loans were
    285 words
  • Article
    Brussels
    156 7 BRUSSELS: Share prices closed lower In quiet trading on Thursday. bourse sources said. Acec and CBR rose. Electrobel was also higher after announcing a proposed capital increase while Co be pa, Cockerill, Hal-naut-Sarabre and Si Roch fell. In foreign stocks, UK were unchanged or higher, Oertnan rose. Dutch were
    156 words
  • Article
    Frankfurt
    348 7 FRANKFURT: The markel firmed al the start of a nev month with renewed confldeno and active demand brlnglni gains of up to three marks or average on Thursday, dealer! said. Deutsche Bank gain 1.7 c marks following publication or Wednesday of its Interim report. Elsewhere leading banks and chemicals
    348 words
  • Article
    Milan
    25 7 MILAN: A strike by bourse clerks tn protest against the operating problems of Italian stock markets prevented official quotations on Thursday bowse sources said.
    25 words
  • Article
    Paris
    400 7 PARIS: The market was higher on balance with trading on Thursday less affected by the one day national strike than expected. dealers said. Banks, properties, portfolio investment companies, foods, buildings, hotels and stores all rose. Engineerings were irregular and electrtcals mixed while metals weakened, led by Crauaot Loir* and
    400 words
  • Article
    Zurich
    302 7 ZURICH: Prices were slightly higher on selective demand despite the weaker dollar on Thursday, dealers said. Banks generally rose. LEU participation certificate closed very steady after rights cession. Oerlikon-Buehrle rose on buying support among generally slightly higher flnanclals. Insurances also pointed higher. Leading industrials showed small gains over a
    302 words
  • Article
    Jo'burg
    377 7 JOHANNESBURG: Selected gold shares rose marginally but the sector was lower on balance on Thursday, dealers said. They attributed the trend to continued strength of the securities rand quote. Losses ranged to 35 cents. Financial minings were marginally easier. Elsewhere. De Beers shed two cent* to 533. Coppers were
    377 words
  • Article
    Toronto
    326 7 TORONTO: Surging oil issues pushed the market sharply higher on Thursday In the busiest trading since June 5 1009. Tetal volume reached 6,503,531 shares against 4,629,782 shares on Wednesday. The composite Index was up more than 11 points and advances outpaced declines 284 to 153. The oil and gas
    326 words
  • Article
    New York
    1127 7 NEW YORK: The stock market turned in a mixed performance on Thursday, with second tier and special situation issues posting gains and many blue chip and glamour stocks retreating. Analysts said Investors are becoming more concerned about a possible economic downturn In 1978 as administration officials talk about
    1,127 words
  • Article
    Indices
    65 7 FINANCIAL TIMES INDUSTRIALS Thursday 479.8 Wednesday 481.0 Week Ago 456.7 J DOW JONES AVERAGE INDUSTRIALS Thursday 825.71 Wednesday 829.70 Week Ago 843 30 LONDON DOLLAR PREMIUM Thursday 98 to 98* Wednesday 97* to 98* H.K. HANG 8ENG Thursday 420.57 Wednesday 419.29 Week Ago 419.90 SYDNEY INDUSTRIALS Thursday 383 13
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  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      373 7 mciiico polo Singapore Tanglin Circus, S'pore 10. Tel: *****1 Brasserie La Rotonde Specialite de Cafe Expect the unexpected! Daily specials that are as fresh as a new day Today's special could be meat. Or seafood Even hors d'oeuvres. But whatever It is, It's fresh. And prepared as only our chefs
      373 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      373 8 THE SINGAPORE rubber market yesterday opened one cent higher but later fell back fractionally on lack of follow-through buying, dealers said. Turnover was small, they added. The morning session closed very quiet with December One RSS buyers quoted at 204.25 cents per kilo, up 0.50
      373 words
    • Article
      Closing prices
      24 8 Rubber: Dec 2 Singapore: December 203.75 (unchanged) Malaysia: December 203.50 (unchanged) Tins: $1,775 (down $6) Official offering: 225 tonnes (down 22 tonnes)
      24 words
    • Article
      RAS PRICES
      352 8 Prices in cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers int. i K.S.S. prompt f o b. 204.25 204.75N 203 50 204 OON Int. 1 R S.S Dec 1977 204.25 204.50 203 75 204 00 Int 1 R.S.S. Jan 1978 205 75
      352 words
    • Article
      SSR AND SMR
      115 8 NOON SSR and SMR prices yesterday: R.A.S. December January (Current Mth) (Forward Mthi Buyer* Seller* Buver» Seller* (cent* per kg) (cent* per kg) SSR 20 (1 ton pallet) 197 50 199 50N 198 50 200 50N SSR 50 (1 ton pallet) 195.50 197 50N 196 50 198
      115 words
    • Article
      Hongkong comex
      403 8 HONGKONG, Frl. Trading in sugar futures was quiet and featureless, dealers said. March rose 0.02 US cents, while other months fell 0.02 to 0.05 cents. Reports by traders In New York of Chinese buying of 100,000 tonnes of raw sugar had no effect as buying activity had already
      403 words
    • Article
      Produce exchange
      425 8 BLIGHTLY easier conditions prevailed in quiet tradng on the Singapore produce market yesterday. Coffee dealers suffered a Jolt when the Singapore Chinese Produce Exchange marked down all grades of coffee by $15 a plcul. Other commodities held their own with copra being the steadiest as a result of
      425 words
    • Article
      Coffee
      251 8 LONDON, Frl. Coffee futures opened £2 down to £25 per tonne up from yesterday's close. Turnover was 78 lots and the official tone "quiet". Only the first Two Months were traded initially with commission house buying and trade selling featuring. Biggest gains occurred in the more forward untraded months
      251 words
    • Article
      Palm oil
      73 8 C.I.F. Rotterdam. US dollar*, per ton. LONDON: Malaysia 5% ffa bulk Feb Sumatra 5% ffa Thursday 455 sir Previoiu 453 sir Dec Jan Feb March April Nigerian 5% ffa bulk Sumatra 490 pd 470/472.50 pd 457.50 pd 456/460/457 50 pd 452 50/457 50 pd unq 442 50/485 pd
      73 words
    • Article
      Cocoa
      255 8 LONDON, Frl. Terminal cocoa finished the first call £11 to £4 higher against New York but tended to eade In cautious and generally thin open trading with short-co verin g providing some scale-down support. Dealers said the market was slightly confused as to the availability of nearby shipment physicals.
      255 words
    • Article
      Straits tin
      222 8 3 THE STRAITS tin price In 4 Penang yesterday fell M*6 to *1,775 on an official offering down 22 tonnes to 225 tonnes. i Values fell back in reac- tlon to Thursday's rise i despite a further reduction of tin concentrate and steadier London advices, dealers said. In
      222 words
    • Article
      Sugar
      218 8 LONDON, Frl. Terminal sugar prices were hardly changed during a thinly traded opening call. Dealers said the market appears to have absorbed overnight New York reports that China had bought up to 130,000 tonnes of raw sugar this week from operators and Brazil for first quarter 1978 arrival. Both
      218 words
    • Article
      Rice
      120 8 HONGKONG. Frl. The market was quiet with prices up to 50 cents lower, dealers said. Turnover totalled 299 tons comprising Thais 109,' Kwangtungs 140 and Australian 50 tons. Arrivals comprised 2.732 tons of Thais and 350 tons of Kwangtungs. Prices In HK dollars per plcul exgodown) Thai White: 100
      120 words
    • Article
      Soybean
      124 8 CHICAGO, Frl. Soybean futures yesterday closed with marginal gains of 2-\ cents to K cent a bushel In an extremely quiet session. The trading range was nine cents, with prices swinging about four cents on both sides of the previous close. Although the market opened slightly lower in a
      124 words
    • Article
      Wheat
      80 8 CHICAGO, Frl. Wheat futures yesterday closed with gains of three cents to one cent a bushel on a combination of scattered commercial support and local short-covering, brokers reported. Traders said moderately aggressive selling by three commission houses near the opening, believed to be partly associated with negative chart patterns,
      80 words
    • Article
      Rubber fluctuates in narrow range
      326 8 PRICES fluctuated within a narrow range in thin conditions during the week ended Dec 1 as levels first Improved gradually by 1-1/2 cents before falling back latterly by some two cents. The marginally steadier conditions at the outset were due to better London advices following
      326 words
    • Article
      Copper
      336 8 LONDON, Frl. Copper wire bars finished the morning with losses of £1 for cash and £0.50 for Three Months. The early pre-market was steadier, reflecting US futures with up to £691 paid for Three Months before pricing sales pared gains. The ring was basically steady in moderate twoway activity
      336 words
    • Article
      Silver
      223 8 LONDON, Frl. Silver finished the morning with losses of 3.9 to 3.7 pence per troy ounce. Values were marked down sharply on the pre-rnarket reflecting the weak overnight New York close and the subsequent downturn in gold. In the ring, Three Months traded down to 262.0 pence per- troy
      223 words
    • Article
      Gold
      293 8 THE KILOBAR in SlngaSre yesterday opened at 12,099 and fluctuated within a range of 5512,100 to 5512.130 for most of the trading session. It then firmed sharply to close at 5512.160. In London, the metal opened at U*****.70/ $158.00 and closed at a high of U*****.85/ $159.05. The London
      293 words
    • Article
      Zinc
      95 8 LONDON, Frl. Zinc was £1.75 down for cash and £1.50 lower for Three Months at the end of the morning ring. Dealers said the market was very quiet due to lack of news or activity in physicals. Ring sales of 1,050 tonnes were mainly carries. On Thursday, zinc ended
      95 words
    • Article
      Lead
      158 8 LONDON. Frl. Lead ended the morning ring £3.75 per tonne higher for cash and £1.50 up for Three Months. The market displayed a very steady trend with trade buying pushing Three Months from £364 up to £368 per tonne. Dealers said i? rema lned a fundamentally sound market and
      158 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        547 8 THE foreign exchange market yesterday saw the dollar declining against most of the world's major currencies. The trend was down all the way except for sterling against which it held steady with strong central banking support. Against the Japanese yen the dollar opened at 242.60/70. It fell to 242.25/35
        547 words
      • Article
        Minimum lending rates
        43 8 ACBO 7 Aigemene Bank 7 Bangkok Bank 7 HSBC 7 Bank of America 7 Bank of China 7 Bank ofTokyo 7 MaUyan Banking Bank Negara Indonesia 7 OCBC OUB Chartered Bank 7 L'CB..:... Chaae Manhattan 7 DBS 7 L'MBC UOB
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      • Article
        Asian $ rates
        149 8 Asian rates ASIAN currency deposit Interbank rates as at close on Dec 2 US Dollar* (SpoO 1 7 days 1 mth 2 mths 3 mths 6 mths 9 mths 12 mths Offer a 3/4 .7 5/16 .7 71/B tmt .7 1/1 8*. Fr». middle Bid 65/8 7 3/16 67/8 7
        149 words
      • Article
        Discount
        46 8 ffere<1 b> dl^°unl Overnight 2* to 3** Call deposit: 3* to 3(4 Baying Selling 3-Month Treasury bills 3 1/4 3-Month Bank hills 4 7/8 3-Month CO 3 5/8 8-Month CD 5 13/16 3 1/8 4 3/4 5 1/2 3 13/18 Source: National Discount Co. Ltd.
        46 words
      • Article
        Euro $ rates
        124 8 Euro rates LONDON, Frl. Eurodollar deposit rates eased slightly in quiet trading and In reaction to the larger than expected fall in US money supply, dealers said. Periods were generally 1/16 point lower except One Month which firmed 5/16 to 7-H, 7-* per cent on a Friday end upward adjustment.
        124 words
      • Article
        Treasury bills
        46 8 RESULTS of tender held on Dec 2 for 91-day Treasury bills to be issued from Dec 5 to 9: Offered 520.000.000 Applied for: 552.500.000 Allotted: 120.000.000 Accepted Bids WS 20 approximately 29%. hlgtier bld» In full Avera«e rate of discount on allotment: >.140% pa
        46 words
      • Article
        London
        225 8 LONDON, Frl. The dollar touched new lows against the mark and the Swiss franc in thin, nervous opening trading as bearish settlement against the dollar continued, dealers said. The latest decline In the dollar stems from position taking before the weekend and reflects substantial lack of confidence in the
        225 words
      • Article
        New York
        127 8 NEW YORK, Frl. The dollar yesterday continued to decline against major currencies, generally closing at its lowest levels of the day, dealers said. Trading remained very quiet, they noted, except for a flurry of activity in the morning amid rumours of possible Federal Reserve intervention in the market.
        127 words
      • Article
        Tokyo
        136 8 TOKYO, Frl. The dollar for overnight delivery closed lower at 242.30 yen after a 242.70 opening and 244.15 at yesterday's close, dealers said. No central bank Intervention was detected. Trading was fairly active with volume of US$333 million. Yesterday's announcement of Japan's record external reserves and the high level
        136 words
      • Article
        Hongkong
        96 8 HONGKONG, Thurs. The US dollar weakened against most currencies as selling towards the close by European operators accelerated an earlier downward drift, dealers said. Trading was relatively thin however with the dollar quoted at 242.00/20 yen compared with New York's closing 242.90/243.00. Following the general trend, sterling also firmed
        96 words
      • Article
        Zurich
        79 8 ZURICH exchanges closing quotes on Dec 1: US 2.1437 1447 Stg 3 9046 9070 Can 1 9372 9380 D Mk 96 95 97 03 D. Fl 89 65 69 F Fr 44 27 31 B Fr 6.1476 1540 D Kr 34 97 35.01 N Kr 39 86 89 S
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      • Article
        Australia/NZ
        59 8 AU8TRALIA/NZ exchanges on Dec .1: Auttralla U8 dollar 1 1318/1 1270 Sterling 0 8252. 0 8182 Ninety-day air mall buying rate*: Sterling 0 8377 US dollar 1.1802 Ninety-day forward buying rate*: Sterling 0 8214 US dollar 1 1248 New Zealand Sterling 0 5501/0.5471 US dollar 1 0018/0 Wig Ninety-day
        59 words
      • Article
        Frankfurt
        47 8 FRANKFURT exchanges opening quotes on Dec 2: US 2 ZMQ/2100 Can IW15/25 St| 4 01/02 D n 92 40/50 8 Ft 103.21/31 Lit 2 518 528 F rr 45 63/73 N Kr 41 04/14 B Fr (com) 6.35/36 B Fr (fin) 6 33/34 Yen 0 9100/15
        47 words
      • Article
        Eurobonds
        342 8 LONDON, Frl. Sterling denominated Eurobonds fell by between 1/4 and 1/2 point In light trading, dealers said. Eurobond price* quoted on Dec 2: Straight* BM Offer Nippon Pud Bank 7 V, 82 una* una* D6M (Holland) 8 W 87 98 12 W 62 BNDE(Brazil)9*84 98 00 98 90 Sweden
        342 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      159 8 Don t let the language barrier stop you from wider contacts iPS 8 s V^ OVV> O" r tP eW^ 30 V fcA e a° p o** e «o rv- •r \e^ h YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at home, while travelling in fact anywhere and any
      159 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon African yachts are sailing into the limelight
      653 9 F.T. NAIROBI, Frl. A fibreglass boat builder with a yard In Nairobi. 450 kms from sea or lake, has sailed optimistically into the world of luxury yachts, with a growing list of export orders and enquiries. It Is a success story for Mr.
      F.T.  -  653 words
    • Article
      Lock icon London freight market
      174 9 AP LONDON, Fr. Considering the slow pace of North American voyage fixing in recent weeks, grain rates have held up very well with little more than marginal decreases noted. Latest business to emerge yesterday on the US GulfHolland trade was the payment of $5.50 (FIO) to the
      AP  -  174 words
    • Article
      Lock icon Problems are not serious claim
      905 9 CONCORDE BREAKDOWNS Agencies PARIS, Frl. Jet engines had trouble twice and a Jet nozzle was damaged during recent flights of the supersonic Jet Concorde by British Airways and Air France, Air France and airport officials confirmed yesterday. The officials stressed that all new aircraft have
      Agencies  -  905 words
    • Article
      Lock icon ILA strike in New Orleans ends
      237 9 AP NEW ORLEANS, Frl. Rulings from the president of the International Longshoremen's Association brought the US Atlantic and Gulf of Mexico coast dock workers' strike to an uneasy end yesterday. ILA president Thomas W. "Teddy" Gleason lumped together the votes of all nine ILA
      AP  -  237 words
    • Article
      Lock icon US car output
      105 9 Reuter DETROIT, Frl. US car production In 1977 will surpass totals for all of last year by this week-end, the Industry's statistical publication reported today. Ward's Automotive reports said that by Saturday, production will reach an estimated 8,664,272 cars since Jan 1, compared to the 1976 total
      Reuter  -  105 words
    • Article, Illustration
      IN PORT
      355 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Cherry Vllja (B. Barge) (0800) 48 Neptune Jasper (1000 after New Horse must Starboard to) 33/34 Perils (0600) 21 East Post Champion (Tan-ker-P/O) (after Stolt Rhino sails subject gas free) 15/16 Ramoneverett (1500 44 Stolt Rhino (TankerP/O) (after Bunga Sepan| subject gas free)
      355 words
    • Article
      Lock icon Call for shipping unity among western nations
      319 9 Reuter LONDON, Frl. A British shipping leader today called on the government to take the lead in increasing cooperation among Western maritime nations to counter competition from East Europe. Mr Peter Walters, president of the Oeneral Council of British shipping, said the West
      Reuter  -  319 words
    • Article
      JUMBO LINE
      191 9 JUMBO Line, a joint operation comprising AustraliaWest Pacific Line, Malaysian International Shipping Corporation and Southern Shipping Lines, covers a large number of ports in South-east Asia, the Far East and Australia. Jumbo Line offers a complete and comprehensive cellular container service and has facilities to cater for all
      191 words
    • Article
      PSA works
      89 9 THE Port of Singapore Authority will be carrying out dredging works at the container port channel In the eastern roads. Mariners are advised to proceed with caution In the area. On Dec 4, the main fairway light buoy will be moved temporarily and on Dec 9, it will
      89 words
    • Article
      Lock icon Floating dock
      69 9 Reuter OSAKA, Fri. a massive Japanese-built floating dock will arrive In Newcastle, New South Wales, early next month for delivery to Its Australian owner, the Newcastle State Dockyard, Hitachi Shipbuilding Company said here today. Hitachi, which built the dock at a cost of about three billion yen (SS3O
      Reuter  -  69 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      675 9 ARRIVALS y^rviof Operator Number Local Time From CAL CPA TMA MAS MAS SIA MAS MAS MAS CAL OIA CPA THAI SIA SIA OIA MAS OIA PAL RBA OIA SIA KLM SIA MAS MAS CI333 CX003 TL302B MH601 MH682 SQ101 MH607 MH621 MH671 CI814 GA980 CX710 T0423 SQ103
      675 words
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      244 9 What is Malaysia doing d ensure natural rubbers rightful place in industry? Find out in the November 1977 issue of, MALAYSIAN BUSINESS MALAYSIAN BUSINESS this month takes a close look at the rubber industry from the processing and marketing to the industrial use of the product and the technological advancements
      244 words
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    Lock icon Can Sadat swim in sea of hostility?
    1105 10  -  By LEONARD SILK NYT NEW YORK: "How can President Sadat get along In a sea of hostility?" asks a high-ranking State Department officer, explaining the United States' hesitant, anxious support of the Egyptian President's peace initiative toward Israef The United States Is not
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    Lock icon Miami Beach seeks magic combination
    1417 10  -  By JON NORDHEIMER NYT MIAMI BEACH, FLA: i Like a high-rolling craps player down on his luck, Miami Beach Is groping for j the winning combination j that will restore its winning ways. For the last few years, this old resort has been rolling stone-cold
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    Lock icon Connecticut's gamble not paying off
    893 10  -  By LAWRENCE FELLOWS NYT WETHERSFIELD, CONN: Legalised gambling in Connecticut has become an added regressive tax on the people least able to afford It, according to a six-month study released on Wednesday. Moreover, it said, the state lacks the resources to Identify organised criminal elements
    NYT  -  893 words
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      159 10 the 8 Steps to Health and Peace by Richard L. Hittleman (author of "yoga 28 day EXERCISE PLAN) Richard Hittleman, the moat widely-read author in tha world on tha subjact ot yoga, preeents in this book his most complata and in-dapth study of tha subjact to data. Instruction is given
      159 words
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    Lock icon Opec fails to meet its aims, obligations
    686 11 AP CARACAS, Frl. The man widely recognised as the father of Opec feels the organisation is not meeting its responsibilities to its members or the world. But Juan Pablo Peres Alfonso said there is little Opec can do In the face of Internal
    AP  -  686 words
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    More are expected to take part in Paris display
    174 11 THE International Electronic Components Exhibition In Paris next year Is expected to attract 1,300 exhibitors. The exhibition, restricted to manufacturers only, is believed to be the largest of its kind In the world. Held annually In April, the exhibition will last
    174 words
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    Yards to discuss way to stay afloat
    111 11 THE Singapore Association of Shipbuilders and Repairers (SASAR) will hold a two-day seminar on productivity from Dec. 9. Mr. Sla Kah Hul, the Minister of State for Labour will open the seminar entitled "Singapore Shipyards Survival Through Higher Productivity", which will be attended
    111 words
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    Holidays with a touch of class
    199 11 THE businessman, who wants a well-planned holiday with top service, can now look forward to the tour programmes of Tour East International (TEI). TEI, a member of the Tour Holdings International (THI) group, have programmes which cover up to seven cities In the Orient.
    199 words
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    KL's special trade ties with Dacca
    307 11 KUALA LUMPUR, Fri. Malaysia and Bangladesh have signed a trade agreement according each other the most-favoured nation treatment. The signatories to the agreement were the Minister of Trade and Industry, Datuk Serl Hamzah Abu Samah, and Mr Mohamed Salfur Abdul Rahman, a member of
    307 words
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    Lock icon China keen on Rolls range
    179 11 Reuter DERBY (England), Frl. China is Interested In buying Rolls-Royce engines for a range of Industrial and marine applications, Including the pumping of gas and oil. Dr. Donald Pepper, RollsRoyce's vice-chairman, disclosed this yesterday during a visit by a Chinese mission led by Foreign Trade
    Reuter  -  179 words
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    Local light-fingered fraternity is growing
    1201 11  -  ONLY A FEW PROSECUTED BY PETER CHIA SHOPLIFTING in Singapore Is not as serious as that In overseas countries, particularly the US and Britain. However, indications are that it will soon become a major problem for the supermarkets and departmental stores as they expand their
    1,201 words
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    Siemens plans X-ray training centre here
    173 11 AN X-ray training centre for technical staff from several Asian countries is to be set up In Singapore. Disclosing this yesterday, Mr. Karl Roessler, ex§ort manager of the lemens Medical EngineerIns Group, said the centre will have equipment worth $600,000 and a resident Siemens
    173 words
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    Lock icon Record Korean budget
    237 11 AP SEOUL, Frl. The South Korean National Assembly yesterday unanimously apE roved a record national udget for 1978 balanced at 3,517 billion won (5517.2 billion) with major emphasis on military spending. The amount should be equivalent to 18.5 per cent of Korea's projected gross national product for
    AP  -  237 words
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    Lock icon Pulitzer — Asean style
    107 11 Pulitzer Asean style AFP KUALA LUMPUR, Frl. Asean awards for the best Journalistic and literary works of the year on the lines of the American Pulitzer prize may be introduced soon to encourage writers in the five member countries. The suggestion was made by Sabah's Chief Minister Datuk Harris Salleh,
    AFP  -  107 words
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    Lock icon SRI LANKA BUDGET FAVOURS THE POOR
    612 11 Agencies COLOMBO, Frl, Two Cabinet ministers yesterday charged In Parliament that the defeated Sri Lanka Freedom Party (SLFP) of former Prime Minister Slrlmavo Bandaranalke Is plotting to topple the government. The charge was made by Finance Minister Ronnie de Mel, and Industries and Scientific
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    Lock icon Venezuela floats $194 m bonds in Japan
    303 11 AFP TOKYO, F*i. Tha Venezuelan government will float yen-quoted bonds totalling 20 billion yen (StIM million) on Monday in Japan for its industrial and infrastructure! projects including construction of an aluminium plant. Tbe agreement on Venezuela's first flotation of bonds in Japan was
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    Panels not well versed on safety
    174 11 MANY safety committees have in the past failed to deliver the goods because of the members' lack of knowledge on the subject and their lack of understanding of the functions, duties and responsibilities of safety committees. Making this comment, Mr Ivan Baptist, chairman of
    174 words
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    British expo
    43 11 HONGKONG, Frl. Textiles machinery will be among a wide range of industrial equipment which will be offered for sale at a British exhibition here in March next year. The exhibition will be the largest British products display in Asia next year.
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      271 11 APPOINTMENTS An International Company with substantial manufacturing and commercial operations In Singapore requires a SENIOR FINANCIAL EXECUTIVE This Is a senior position reporting to the Financial Manager. KEY JOB REQUIREMENTS: 1. Planning and controlling cash flows 2. Funding 3. Credit Control 4. Foreign exchange transactions. WE ARE LOOKING FOR A
      271 words
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    Lock icon Tokyo cannot cut surplus at short notice
    682 12 UPI TOKYO, Frl. The problem of Japan's trade surplus with the US will not be settled quickly, said Mr Nobuhlke Ushlba, State Minister for External Economic Affairs, who has been assigned to Washington to negotiate with US officials. "No country can at this
    UPI  -  682 words
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    Lock icon Pressure mounts for restraints
    560 12 NYT AFP WASHINGTON, Fri. Special Trade Representative Robert Strauss yesterday warned that restrlcltve legislation against Japanese Imports was very imminent if the newly reshuffled Tokyo Cabinet does not make Important concessions to reduce the US$7 billion (5516.8 billion) trade surplus expected this year with the US.
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    Lock icon Japanese pleads yen rise
    373 12 Reuter BRUSSELS. Frl. Japan told the European Common Market the sharp yen rise on foreign exchange markets will adversely affect Japanese exports and has damaged business confidence. Sources said the appreciation of the Japanese currency mainly against the US dollar had to be taken Into account
    Reuter  -  373 words
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    China to be paid in advance
    228 12 TOKYO. Frl. Japan has offered to pav China In advance for portions of crude oil and coal imports a move aimed at helping China in the development of its economy. The Malnlchi Shlmbun newspaper said in a frontpage article that the proposed advance payment
    228 words
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    LONDON STOCKS
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    840 words
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    Insurance cover for Amex card holders
    222 12 SINGAPORE residents who use American Express Gold Card will soon be entitled to $60,000 travel Insurance at no extra cost. This follows the signing of an agreement yesterday by American Express resident vice-president Richard Weden; director of marketing and sales, Mr. Curt Ludwlgson; and
    222 words
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    Dupac to push its products here
    156 12 DUPAC International, a Honolulu-based agency representing 24 US manufacturers, is In Singapore hoping to Interest local architects In Its water-proofing and corrosion protection products. Mr. Russell Moy, the bompany vice president, yesterday gave a talk on problems of water Infiltration of buildings and discussed
    156 words
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    Lock icon Jobless dip
    41 12 Reuter THE HAGUE, Fri. Dutch unemployment fell to 5.3 per cent of the total workforce In November from 5.4 per cent In October and was unchanged compared with November last year, provisional seasonally-adjusted Social Affairs Ministry figures show. Reuter.
    Reuter  -  41 words
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    Lock icon South Korea is first to seal textile pact
    649 12 Reuter UPI BRUSSELS, Frl. The Common Market reached an agreement last night with South Korea on limiting Korean textile exports to the EEC over the next five years. EEC officials said South Korea Is the first of the major textile suppliers to
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    Lock icon SCANDAL OF UK AGENCY INCURRING $910 M LOSS
    674 12 AP LONDON, Fri. Prime Minister James Callaghan yesterday ordered an Inquiry into what were described as "wild enterprises" on the stock market in which a government agency lost £212 million (SS9II million). His office announced the Inquiry after Overseas Development Minister Mrs.
    AP  -  674 words
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    Lock icon Bank of China men to view computers
    158 12 Reuter TOKYO, Frl. -Six Chinese banking officials from the Bank of China's Hongkong office will come to Japan next week to Inspect the online computerised banking system here and a Japanese factory building IBM computers. IBM Japan Ltd said the visit to Japan
    Reuter  -  158 words
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    Projects at airport ready
    86 12 VARIOUS SIA engineering .projects at Paya Lebar Airport have been completed or In their final stages. According to SlA's house magazine, Outlook, these projects, which are part of the $70 million worth of facilities developed by the group since mld-1975 when the move to Changl was
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    Lock icon Unsnarling Bangkok
    42 12 Reuter BANGKOK. Frl. The Thai government is considering a 600 million baht (Ss7l million) scheme to combat traffic congestion in Bangkok. Informed sources said World Bank experts presented the scheme yesterday to Prime Minister Krlangsak Chamanand and other government leaders.
    Reuter  -  42 words
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      91 12 NOTICE Notice is hereby given that Mr Tay Ser Hiok (I/G No. *****11/1) has ceased to be a Company Secretary of:1) Brentnall Beard Co. (S) Pte. Ltd 2) Brentnall Beard Underwriting Agencies Pte. Ltd. 3) Brentnall Beard (B) Pte. Ltd. 4) Universal Insurance Brokers Consultants Pte. Ltd. and does not
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      98 12 HIGHLIGHTS OF OUR NOVEMBER ISSUE PROPERTY I he condominiums will be ready soon and the winner is the developer who offers the best package. LIFE AT THE TOP Personality profile of British Airways I)a>id Lower Watching the birds go by. TRENDS hat is influencing metal prices? C offee: Bluff and
      98 words