The Business Times, 25 October 1976
1976-10-25
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10
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The Business Times
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Title Section10 1976-10-25 1 BUSINESS TIMES M.C.(P) 1455/76 MONDAY, OCTOBER 25, 1976 50 CENTS10 words
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NEWS SUMMARY
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Article64 1976-10-25 1 Reuter BANGKOK, Sun. Foreign Minister Upadit Pachariyangkun said today that recent political developments here would not affect Thailand's participation in the activities of the United Nations and other international organisations. Speaking at a ceremony to observe UN Day, Mr. Upadit said his country would continue toReuter - 64 words
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Article109 1976-10-25 1 UPI ATHENS, Sun. Shipping and banking tycoon Stratis Andreadls, father-in-law of Christina Onassis, will face trial on charges of fraud and violation of Greek banking laws, a legal spokesman said yesterday. The Indictment called for Andreadls to be tired on six counts of fraud against companies he directed,UPI - 109 words
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Article73 1976-10-25 1 Reuter ROME, Sun. Three Rome magistrates today opened a criminal investigation to discover who started rumours yesterday that the governor of the Bank of Italy had resigned, and that the government was about to freeze bank accounts. A long queue of civil servants and members of parliamentReuter - 73 words
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Article102 1976-10-25 1 AP NEW YORK, Sun. Two New York newspaper polls released yesterday give Mr. Jimmy Carter a solid lead over President Ford in that key state. The New York News, In its poll, gives Mr. Carter a 53-44 per cent lead over Mr. Ford in theAP - 102 words
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Article74 1976-10-25 1 UPI GENEVA, Sun. Mr. Robert Mugabe, the first of the Rhodesian black Nationalist leaders to arrive for this week's peace conference, today rejected American plans for Rhodesia and called for majority rule "within the next few months." Mr. Mugabe, the head of the Zimbabwe African National Union,UPI - 74 words
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Article32 1976-10-25 1 Reuter LONDON, Sun. British Summer Time (BST) ended at 0300 BST today when the clocks went back an hour, to put the nation on Greenwich Mean Time (GMT). Reuter.Reuter - 32 words
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Article70 1976-10-25 1 THE six-day annual meeting of the study group on Asian Tax Administration and Research will start here tomorrow. Delegates from Australia, Indonesia. Japan, Malaysia, New Zealand, the Philippines, Thailand and Singapore will attend the conference. Annual meetings of the group, set up to review and exchange information70 words
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Article51 1976-10-25 1 KUALA LUMPUR, Sun. About 150 Indian Muslims met here this morning to form a new political party Kongres Indian Muslim Malaysia (Kimma). The inaugural meeting elected insurance executive Mr. Badrul Zaman, 29, the pro-tem president and businessman Mr. Slkkander Batacha, his deputy. Twelve committee members were also51 words
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Article112 1976-10-25 1 THE following List of stocks gives the ten most dealt in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units, closing prices on Thursday and high and low for 1976. Company Turnover OOC Pricca Oct. 21 High 1976 Low Haw112 words
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LOCAL STOCK INDICES
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Article67 1976-10-25 1 Oct. 18 Oct. 19 Oct. 20 Oct. 21 Oct. 22 +B.T. Index: 249.23 252.42 249.47 248.52 Cloaed 'Industrials: 251.59 252.01 250.91 250.62 Closed Finance: 453.04 455.01 454.29 453.67 Closed "Hotels: 151.15 150.72 150.59 150.69 Closed 'Properties: 142.48 142.50 142.36 142.36 Closed ♦Tins: 95.38 95.38 95.36 95.36 Closed rubbers: 320.1567 words
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Article71 1976-10-25 1 Oct. 18 Oct. 19 Oct. 39 Oct. 21 Oct. 22 'Industrials: 273.53 273.19 272.15 270.88 Closed Finance: 383.72 387.21 384.81 385.11 Closed ••Hotels: 170.63 170.63 160.88 169.88 Closed •Properties: 148.08 143.76 142.66 143.14 Closed +Tlns: 93.38 93.36 93.41 93.32 Closed rubbers: 293.84 293.79 293.55 293.36 Closed ♦Jan. 1. 197571 words
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1059 1976-10-25 1 FIVE SLATER EXECS ONLY RAISE EYEBROWS FOLLOWERS of the Haw Par saga must have raised an eyebrow or two when It was revealed that the Singapore Government had sought the return of five British businessmen to Singapore to face charges alleging offences committed under the1,059 words
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Article156 1976-10-25 1 Reuter MELBOURNE, Sun. Prime Minister Mr. Lee Kuan Yew played golf In Western Victoria and relaxed at "Nareen," the country house of Prime Minister Mr. Malcolm Fraser, as he continued his 13-day offlcal visit to Australia. Strict security measures were in force around Mr. Fraser'sReuter - 156 words
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Article, Illustration641 1976-10-25 1 UPI HONGKONG, Stfn. Chinese Premier Hua Kuofeng, looking relaxed and supremely confident, made his public debut today as the new chairman of the Chinese Communist Party before a mass rally of more than one million people who raised their fists inUPI - 641 words
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Article164 1976-10-25 1 NMB Singapore, subsidiary of Nippon Miniature Bearing, is to raise US$l2 million via a seven-year public note Issue. Proceeds will be used to finance the company's production capacity In Singapore. Coupon and issue price will be fixed on Nov. 4, say Morgan Orenfell (Asia) and164 words
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Article270 1976-10-25 1 Reuter KUWAIT, Sun Kuwait is producing more oil to meet increased world demand in anticipation of an expected price rise, a leading Kuwaiti official said today. Assistant Oil Ministry Under-Secretary Mohammed Al-Nusseir said Kuwaiti production now topped two million barrels a day. Dr. Nuaseir wasReuter - 270 words
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Article40 1976-10-25 1 AP JAKARTA, Sun. Minister of Mining Mr. Mohammad SadU said yesterday that Indonesia plans to sign a contract for copper mining in South Sulawesi next month with an American British Joint company. P. T. Riotinto Bethlehem Indonesia. APAP - 40 words
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344 1976-10-25 1 HAW Par Brothers International has sold one of its wholly-owned property subsidiaries in Hongkong. King's Road Development a move which is likely to hasten the healing process it initiated in November 1975. The sale of KED's entire share capital for HK518.37 million In cash344 words
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Article, Illustration575 1976-10-25 1 INTERMAGNETICS Corporation of California, specialising in the production of precision-engineered tape manufacturing equipment and high quality magnetic tape, has set up a manufacturing plant in Singapore at a total investment of $6.1 million. The plant here, set up two months back. Is the latest575 words
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Page 1 Advertisements
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Advertisement55 1976-10-25 1 ©Wyfbong MAF A lending hand when Wayfoong Mortgage you need and Finance f (Singapore) Limited K lIIOM Shaw House. Ground Floor. 354 Orchard Road. Singapore 9. Td: *****7. (SEE BACK PAGE) (SEE BACK PAGE) Leisure/Crossword Leisure/One Woman'* Week P2 Local/International Co News M Overseas Markets P" M Commodities P8 P455 words
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Advertisement58 1976-10-25 1 Meet Sony UMatic Color Videocassette Recorder/Flayer m mm *2SS»> ESS**' A CVM-1810E VQ-1810 TPS A SONY" *Dtei system: Displays both PAL and modified NTSC colour recording when combined with both CVM-1810E VO-1810. •Receives and records TV programmes off the air. *Fully Automatic, solid state circuitry. For further information contact: Setron58 words
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Advertisement157 1976-10-25 1 f v Albert Photo .TgfFor the best in SSSfss 1 1 photographic ,niBhoors equipment S p^.ipo-e^ Te *****-1 *****1 &23WPV Only 2.5 mm thick. And automatic. GOLOEN SHADOW IS ct w»*t« goM 3««OOS/O4u With a 48-hour power reserve. Over 150 precision parts, that make up the movement, ingeniously fitted into157 words
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Article781 1976-10-25 2 RECENT election gain* by conservative parties In Sweden and West Germany and the low standing In the public opinion polls of Britain's ruling Labour Party have led some commentators to speculate about the possibility of a rightist wind blowing across the political arenas of Europe. But the European781 words
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REVIEWS
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1030 1976-10-25 2 g MUSIC THE trouble, really, with a reactionary tune like Old Mac Donald Had A Farm is not In the bow-wow here and oink-oink there. The trouble is, after each time you hear it, you cannot for days get it out1,030 words
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411 1976-10-25 2 A. THORNCROFT - By A. THORNCROFT Financial Times NOT many people have valuable antiques lying unappreciated In their attics but there are plenty of forgotten toys gathering dust, and these days toys make frequent appearances In the auction rooms. In particular toy soldiers and dolls are muchFinancial Times - 411 words
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663 1976-10-25 2 Vincent Canby - t films 1 The Marquise of O now on in New York, previewed by Vincent Canby. Vincent Canby NYT THE Marquise of O (Die Marquise von O Eric Kohmer's German-language screen version of Heinrich Von Kleist's 19th-century short story, shouldNYT - 663 words
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Article, Illustration986 1976-10-25 3 CHRISTOPHER LEHMANN-HAUPT - BOOKS By CHRISTOPHER LEHMANN-HAUPT NYT BLIND Ambition. The White House Years. By John Dean. 415 pages. Illustrated. Simon and Schuster U5511.95. NO. JOHN DEAN is not the most appealing person in the world, and yes, the subject of Watergate is getting a little tedious.NYT - 986 words
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Article, Illustration993 1976-10-25 3 TSAI TAN - By TSAI TAN Miss Tan is a journalist. These seven days are not necessarily from the same week. MONDAY: The paper is nearly 10 days old. Incredible. It took us 11 months to get off the ground, but It seems in retrospect as if all the work993 words
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Article829 1976-10-25 3 RICHARD LOCKE - By RICHARD LOCKE NYT Catch A Falling Spy. By Len Detghton. 268 page*. Harcourt Brace Jovanovich. U557.95. The Sun Chemist. By Leionel Davidson. 275 pages. Alfred A. Knopf. U557.96. The Glory Boy*. By Gerald Seymour. 314 pages. Random House. U557.95. THERE'S so much talk about brokenNYT - 829 words
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Page 2 Advertisements
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Advertisement101 1976-10-25 2 bJ% ace to lunch. You expect the best. You want your clients to have the best. So when you come to the best. that's exactly what you'll get The best. Yourchoice from our exhilarating gourmet menu. With fine vintage wines. And of course, the impeccable service that you have naturally101 words
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Advertisement154 1976-10-25 2 mm -V Y 3 A B jij-i To:•OUTM MUTMOMQ aurrotm Please send me more details on the current range of AR speakers. Address-. UNPRECEDENTED ACCURACY Acoustic Research believes that a loudspeaker should not sound "good" or "bad" but rather have as little sound of It's own as possible. One should154 words
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Page 2 Miscellaneous
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Miscellaneous758 1976-10-25 2 JUMBO TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS Equally confident. You find out (9) Went to work on the music as planned (8) That dashed mend isn't invisible at all! (4) Amuse young Diana Green (6) Tell people you managed to get back the tax (7) The fish and hens I'd cut758 words
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Page 3 Advertisements
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Advertisement268 1976-10-25 3 DOCUMENT PROCESSING DIVISION r... j 'A r I t J, tJ, l: i ,y -r- r > qic'JH iff N 1 VJ Wywy meets your copying needs Wywy Private Limited sole distributor for Ricoh copying systems. Now every owner of a Ricoh copier stays secure with Wywy's supporting staff of268 words
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Page 3 Miscellaneous
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Miscellaneous22 1976-10-25 3 BriStoW: licicens PMJ- &OCO TvAtMGS COmeN To tNO SOUNDS UttL PoOGC s fceoc > f PCe GOG Vio V=fei>*r "fc> Hfn —\l (*r^22 words
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Article, Illustration1605 1976-10-25 4 WHILE INVESTMENT IN GEMS CAN BE PROFITABLE, MICHAEL THOMPSONNOEL URGES THE CAUTIOUS APPROACH Financial Times ARE DIAMONDS really a girl's best friend? The 69 carat Cartier diamond that Richard Burton bought for Elizabeth Taylor in 1969 it cost US$l.O5 million, a price that at the timeFinancial Times - 1,605 words
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872 1976-10-25 4 HAMISH MacDONALD - By HAMISH MacDONALD Financial Times THE INDONESIAN Government has Issued regulations which may revive negotiations with potential Investors in mining after a three-year deadlock. They are contained in a Presidential decree which the Government hopes will form the basis of a newFinancial Times - 872 words
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Article1170 1976-10-25 4 RICHARD HALL - With China increasingly caught up in its own problems, Russia has been elbowing its way into the gap in African politics. And as white power crumbles in Rhodesia the prospect of possible Chinese intervention has given way to talk of a Cuban-Soviet force to back upFinancial Times - 1,170 words
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Page 4 Advertisements
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Advertisement66 1976-10-25 4 MITSUI TRUST Beacon of Progress hafr N *-"k* ■I A r-< v hi*" i 'V Off* r 4T THE MITSUI TRUST BANKING CO.,LTD. SSSwtllSpmwttSM OH.ce Tower 1201.08SBId»..6 Shenton Wty.Singapore 1 Telephone *****53/*****54 Telex: *****, CeMe Addrea: MITUITRUST SI Nmv Vorfc Afencv Telex: 222*01 Coble Addrea: TRUSTMIT NEWYORK London Repmentttive OHice:66 words
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Article, Illustration1375 1976-10-25 5 DONALD WEST - THE SUCCESS STORY OF CBS CHIEF By DONALD WEST NYT "THERE axe a lot of rules you come to believe In as you go through life In broadcasting. The bellevabillty factor Is a very, very Important factor. And it's a very fineNYT - 1,375 words
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Article, Illustration983 1976-10-25 5 COLIN CHEE - By COLIN CHEE THE Residential Property Bill (RPB) that was first announced in Parliament on Sept. 10, 1973 was designed to cut into what was thought to be the speculative element in Singapore's property market. From that day only Singapore citizens983 words
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Page 5 Advertisements
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Advertisement120 1976-10-25 5 S I B m e S e 5* *?v V.I K S: I w\?.W v at the Rang Mahal For discerning diners to whom a curry is more than a Sunday dish, the Rang Mahai offers Mo gul cuisine. Prepared as in the Imperial days of Shah Jahan, the Mogul120 words
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Advertisement333 1976-10-25 5 Jl_ PERFECT IMPRESSIONS U a Diy The Quartet that gives perfect copies DIA -as good as the originals Technologically the most advanced and unique copying system, U-BIX range of models produces perfect "double" of originals on ordinary plain paper. It's a boon to cut down heavy work volume. It's time333 words
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Page 5 Miscellaneous
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Miscellaneous206 1976-10-25 5 Crossword solutions CRYPTIC SOLUTION ACROSS. 9, Ascertain. 10, Arranged 12. Darn. 13. Di-vert. 14, Narrate. 15. Gar-nished, 17. Count-leM. 18. Not-iced. 20. Greece (grease). 21. ICoN (rev.). 24 Res-a-tes. 26. Bedevils. 28. Rot-a. 29. Sni-p-er (rev.). 31, Car-ton-s. 34. Hard lines. 36. Scare-crow. 38. Runs off. 39. Int-act. 40. May-O.206 words
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COMPANY NEWS
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986 1976-10-25 6 ARTHUR NG - By i ARTHUR NG FROM all indications the recent US$6O million convertible bond issue by Development Bank of Singapore is not likely to be in the market for long. This is because the convertible is designed in such a way that conversion should take986 words
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655 1976-10-25 6 GROWTH prospects at Malayan Breweries in the immediate future appears to rest with its continued success in the South Pacific region and battle with rising costs on all fronts. This is the picture which emerges from the company's latest annual report showing group655 words
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COMPANY MEETINGS
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Article25 1976-10-25 6 THE following company meetings are due: Oct. 26, 10 a.m., Registered Office, Penthouse, 10th Floor, Wlsma Central, Jalan Ampang, Kuala Lumpur.25 words
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Article18 1976-10-25 6 Oct. 27, noon, U.N. Room, at the Hotel Regent, Jalan Imbi, Kuala Lumpur.18 words
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17 1976-10-25 6 Oct. 27, 12.30 p.m., Room 743, Hotel Merlin, Jalan Sultan Ismail, Kuala Lumpur.17 words
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Article11 1976-10-25 6 Oct. 28, noon, 45-47 Robinson Road, Singapore 1.11 words
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22 1976-10-25 6 Oct. 28, 3 p.m., 4th Floor, Bangunan Yee Seng, No. 15, Jalan Raja Chulan, Kuala Lumpur.22 words
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Article18 1976-10-25 6 Oct. .29, 10.30 a.m., Registered Office, Wisma Mega, 2nd mile, Jalan Batu Tlga Lama, Kelang.18 words
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21 1976-10-25 6 Oct. 30, noon, Registered Office, No. 22 (Upper Floor of No. 20) Jalan Gelanggong, Malacca.21 words
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Article19 1976-10-25 6 Oct. 30, noon, Registered Office, UOB Building, No. 1 Bonham Street, Raffles Place Singapore 1.19 words
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Article14 1976-10-25 6 Oct. 30, 12.30 p.m., company's offices at Tasek Industrial Estate, Ipoh.14 words
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16 1976-10-25 6 Nov. 4, 11 a.m., Virginia Park, Jalan University, Petaling Jaya.16 words
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Article11 1976-10-25 6 Nov. 5, noon, Regency Room, Raffles Hotel, Singapore.11 words
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Article19 1976-10-25 6 Nov. 9, 10 a.m., Registered Office, Penthouse, 10th Floor, Wlsma Central, Jalan Ampang, Kuala Lumpur.19 words
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Article13 1976-10-25 6 Nov. 9, noon, Registered Office, 25 Beach Street, Penang.13 words
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Article15 1976-10-25 6 Nov. 12, 11 a.m., Registered Office, No. 50 Jalan Ampang, Kuala Lumpur.15 words
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Article13 1976-10-25 6 Robinson Company Ltd.: Nov. 11, noon, Regency Room, Raffles Hotel, Beach Road, Singapore.13 words
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356 1976-10-25 6 THE publication of halfyearly profit figures by plantation companies can give a misleading picture, according to Kullm (Malaysia). It was replying to a query by the Kuala Lumpur Stock Exchange which had asked Kulim why it based its group and holding profits for tne first356 words
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Article148 1976-10-25 6 TURNOVER; Official figures supplied by the Stock Exchange of Singapore including odd iota 'Ready' totalled: 1,350,000 units valued at <3.347,000 Industrials accounted for 896.000, finance 320,000, hotels 15,000, properties 112,000, debentures, loans and bonds 3,000. oil palra nil, tin nil. and rubbers 13,000 'Settlement Contracts' totalled148 words
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Article371 1976-10-25 6 Current Ex Date Total for Total for payment Date payable the year previous year K.L.K. Deb. ThmtM 5.25* Oct. 8 Oct. 25 5.25* 10.5* 11 5* Oct. 7 Oct. 25 15* 14.5* Dualop Eat. 7.5* Sept 24 Oct. 28 7.5* 12* P.M.R.I. 10*TE+ Oct. 4 Oct. 28 10*TE+371 words
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INTERNATIONAL COMPANY NEWS
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780 1976-10-25 6 ROBERT METZ - By ROBERT METZ NYT NEW YORK, Sun. General American Oil, which has been wooed by many would-be marriage partners in the past, may be getting the rush again or so the Wall Street rumour mill would have Investors think. The rumours started again lastNYT - 780 words
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Article118 1976-10-25 6 Reuter MILAN, Sun. Montedison said in a communique It is unable to meet fully its wage payment obligations to employees of subsidiary Monteflbre, because of the latter firm's poor business situation and the current credit squeeze. The company was confirming earlier statements made to parliamentReuter - 118 words
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Article92 1976-10-25 6 Reuter DEARBORN, Sun. Ford Motor said It reached agreement with the United Auto Workers on a local contract to settle the strike at Its Cleveland stamping plant which makes Ford body parts. It had not reopened after the national strike ended last week and as a result,Reuter - 92 words
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Article44 1976-10-25 6 LONDON, Sun. Courtaulds said it plans to close three factories with the loss of 2,500 lobs. The plants are a viscose textile yarn factory at Flint, Wales, employing nearly 1,500 people, and two hosiery units? at Dowlais, near Merthyr, and Carnmoney, Northern Ireland.44 words
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Loans
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Article110 1976-10-25 6 PARIS, Sun. Credit Lyonnais said the port authorities of Bordeaux, Dunkirk, le Havre, Marslelle, Nantes Salnt-Na-zaire and Paris are jointly seeking US$4O million through a 15-year Eurobond issue. The "ports autonomes" government-guaranteed Issue Is expected to have a nine per cent coupon and pricing at a110 words
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Article51 1976-10-25 6 PARIS, Sun. Banque Vernes et Commercial de Paris said it will float a 100 million franc, 11 per cent, 10-year loan at 99 per cent on the domestic bond market tomorrow. Gross redemption yield is 11.21 per cent and amortisation wiTl be in 10 equal annual amounts, a spokesman51 words
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Article80 1976-10-25 6 JOHANNESBURG, Sun. Union Acceptances and Central Merchant Bank said the 70 million rand Electricity Supply Commission issue was 37 per ascribed. A KI s totalled about 27.5 million rand for the 20 million rand portion available for subscription by the public, when the issue closed last Friday. Escom has80 words
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Article25 1976-10-25 6 ZURICH, Sun. Oslo's 80 million franc, 15 year, 5* 4 per cent loan will be priced at 99.5 per cent, primacy market sources said.25 words
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Article29 1976-10-25 6 BERNE, Sun. Oesterreichische Kontrollbak's 60 million franc, 5*4 per cent, 14-year loan was oversubscribed at an issue price of 99.5 per cent. Bank von Ernest and Cie said.29 words
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202 1976-10-25 6 Reuter OSLO, Sun. Private companies operating with the state run Statoll said they have raised their cost estimate of developing Norway's Statejord North Sea oil field to 33.02 billion crowns against 30.96 billion estimated last June by the Mobil group. Statoll's latest development cost estimateReuter - 202 words
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Article50 1976-10-25 6 LONDON, Sun. Babcock and Wilcox said its 120p per share cash bid for Herbert Morris has lapsed following reference to the Monopolies Commission. A spokesman for Babcock's financial advisors, Lazard Brothers said if the Commission clears the takeover the bid -will be renewed on the same terms.50 words
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Article109 1976-10-25 6 Reuter NEW YORK, Sun. Pittston said it concluded the main elements of a longterm contractual agreement with six integrated Japanese steel mills for the supply of medium volatile, high fluidity metallurgical coal. Pittston said the agreement involves 10.3 million net tonnes during the Japanese 1977 fiscal year,Reuter - 109 words
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Page 6 Advertisements
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Advertisement208 1976-10-25 6 Alex Josey has long been an observer, recorder and commentator of the Singapore scene. In this new book, he examines and explains the success of Singapore's tripartite alliance of Government, workers and employers. A substantial part of the book is devoted to the full text of fifteen essential labour laws208 words
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WALL STREET AND OTHER OVERSEAS MARKETS
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147 1976-10-25 7 BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 1. 1971 100) 1978/76 Week's Action HIGH LOW INDUSTRIAL GROUP 1V10 2 POINT CHANGE 198 51 91.57 Automotive 188.90 187.09 +0 12 485 55 195 99 Banks, Insurance, Finance and Trustees 412.40 415.51 4-3.11 181.45 94.30 Chemicals, Rubber products. Refining and Smelting147 words
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Article996 1976-10-25 7 On October 22 PRICES on the Chicago Board Options Exchange declined on Friday as losers topped gainers, 385 to 91. CBOE volume approximated 92,117 contracts, up from 89,819 contracts on Thursday. OPTION JAN APL JLY STOCK Alcoa 45 81/4 NOL NOL 53 Alcoa 50 4 7/8 51/2996 words
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Article911 1976-10-25 7 NEW YORK: Further evidence of slack in the US economy sent the stock market broadly lower last Friday for the second consecutive session. The Commerce Department reported that new orders for durable goods declined 3.1 per cent in September. Analysts said the market was In a "mood for911 words
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Article307 1976-10-25 7 AMSTERDAM: Shares eased In line w.th Wall Street last Frtday. Unilever led Dutch Internationals two guilders lower. Insurances were steady to firmer against the general trend and Scneepvaart L'nie rose among otherwise lower shippings. State loans firmed strongly after opening mixed. Gemeen ten bank Issues also rose and there307 words
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Article212 1976-10-25 7 FRANKFURT: Nearly all sectors were lower last Friday, following Wall Street's weaker trend and some foreign selling, market sources said. Metallgesellsckaft and TkruM-IWMtiit fell by five marks, while Karatadt was six marks easier. However, strong demand for public loans pushed prices up to 0.4 marks higher and the rejgu-,212 words
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Article255 1976-10-25 7 ZURICH: The market closed generally weaker last Friday, Influenced by Wall Street. Leading banks edged lower, but Baakvercia was resistant. In flnanclals. Interest again centred on Juveaa In active dealings with both bearer shares and participation certificates weakening markedly to lose most recent sharp gains. In a fairly active255 words
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Article391 1976-10-25 7 JOHANNESBURG: Gold shares were mixed with a slightly rirmer bias on Friday. Traders were hesitant in taking positions before the weekend, dealers said. Financial minings were easier on balance. Elsewhere, De Been shed rive cents to 315. Coppers were very quiet, with Palamia Trading 10 cents down at 1,005.391 words
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Article142 1976-10-25 7 MILAN: The market closed generally lower last Friday in quieter conditions, unable to hold past days gain. All leading Industrials lost ground and closed at the day's lows, as did Insurances, banks and flnanclals. Bonds were mixed. oct a Ure Anlc 411 -7 Assoc Oen ***** -1380 Bajtogl 909142 words
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Article276 1976-10-25 7 TORONTO: All sectors registered declines and the Industrial Index dropped sharply in light trading on the Toronto Stock Mining Issues and major industrials led the downturn. Northern Telecom fell 1 3/8, Alcaa dropped one, Nortndt "A" and Comiaco lost 1/2. Deaalsoa Miaes, which reported lower nine-month earnings at the276 words
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Article147 1976-10-25 7 BRUSSELS: The market was sharply down in hectic preweekend trading last Friday. All major stocks dropped except Tm—derto which firmed at the start but finished lower than its best of the day. Foreign stocks also declined. Including American issues depressed by the falls on Wall Street. Gold were narrowly147 words
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Article395 1976-10-25 7 PARIS: The market was mostly lower for the start of the new account last Friday following Wall Street's weaker trend. Goods, stores electrlcals and metals fell but banks constructions and hotels steadied. Most other shares were slightly lower. Among companies which recently announced lower first half results. Schneider and395 words
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Article491 1976-10-25 7 TOKYO: The market closed lover on Saturday with a waiting sentiment prevailing, dealers said. The Market average lost 14.78 to 4,804.03 with volume of 100 million shares. The Tokyo SE Index closed at 347.70 down 0.50. Falling commodity prices drove textiles, chemicals and steels lower. Investors were also discouraged491 words
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Article92 1976-10-25 7 FINANCIAL TIMES INDUSTRIALS Friday 289 7 Thursday 295.6 Week ago TIN Friday ***** Thursday 117.71 Week ago 119.09 RUBBERS Friday 499.82 Thursday 500.31 Week ago 473 90 OILS Friday 343.52 Thursday 348 04 Week ago 333 83 DOW JONES AVERAGE INDUSTRIALS Friday 938 75 Thursday 944.90 Week ago 937.0092 words
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Article266 1976-10-25 7 NYT THE stock market wound up last week with a small gain In slower trading. The Dow Jones industrial average advanced In the first three trading days and then declined In the remaining two. The average closed on Friday at 938.75, up 1.75 points for theNYT - 266 words
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Briefly
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Article83 1976-10-25 7 CLEVELAND, Sun. TRW Inc said it expects 1976 earnings to be in the range of US$4 per share, up from $3.08 in 1975. The company also repeated an earlier forecast that sales should be at least 10 per cent above last year's $2.60 billion. The company83 words
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Article37 1976-10-25 7 PARIS, Sun. Pernod Ricard has achieved a first half net consolidated profit of 79.36 million francs compared with 54.7 million previously. The parent company made a net profit of 61.74 million against 15.9 million last time.37 words
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Article41 1976-10-25 7 MELBOURNE, Sun. Audited consolidated loss at Mid-East Minerals rose from Asloo,ooo to $105,000 for year ended June 30, 1976 on sales of $242,000 ($256,000). The loss Is after depreciation of $116,000 ($48,000) but before extraordinary loss of $39,000 (profits $56,000).41 words
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Article48 1976-10-25 7 MELBOURNE, Sun. Western Mining Corp said it will make a 60 cents a share call on its A 527.04 million new contributing shares, payable on Dec 17. The call, which will make the shares fully paid 50 cent units, comprises 25 cents capital and 35 cents premium.48 words
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Article50 1976-10-25 7 ADELAIDE, Sun. Audited operating profit at Norseman Gold Mines amounted to A 54,000 for the year ended June 30, 1976 against a loss of $233,000 on revenue of $443,000 ($330,000). Profit is after depreciation of $28,000 ($30,000) but before extraordinary profit of $49,000 (nil) on sale of Norseman titanium.50 words
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Article88 1976-10-25 7 TOKYO, Sun. New Jersey governor Mr. Byrne Burns, said he had made format presentations to attract Toyota Motor and Nissan Motor car assembly plants to his state and was heartened in that the companies "appeared willing to continue discussions with us." Mr. Byrne said he planned to have88 words
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Article57 1976-10-25 7 PARIS, Sun. Cle de Saint Gobain Pont A Mousson has reported a first-half 1976 parent company net profit of 120.8 million francs compared with 187.1 million previously. The company said net profit in second half should be appreciably higher than in the first half due to dividends received57 words
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Article75 1976-10-25 7 LONDON, Sun. British Home Stores has Increased pre-tax profit to €7.64 million in the 24 weeks to Sept. 18 1976 from $6.57 million previously on sales of t'100.57 million (L' 84.83 million). It is paying an interim dividend of 2.5163p (1.7829p adjusted). The company said it considers the75 words
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Article113 1976-10-25 7 CHICAGO, Sun. Standard Oil of California expects total US crude oil demand to increase about 5.8 per cent next year with a 4.3 per cent gain in gasoline consumption, chairman, Mr. Harold J. Haynes, told security analysts here. Mr. Haynes said the company is holding to its earlier113 words
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Article65 1976-10-25 7 LONDON, Sun. General Electric said it will receive work worth about 167 million as its share of a second nuclear power station being built in South Korea. A provisional contract to build the US$56O million station has been signed between GEC, Westinghouse Electric and Korea Electric, it said. Westinghouse65 words
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Article48 1976-10-25 7 LONDON, Sun. Trading at Plantation Holdings Trading for the six months to June 30, 1976 was L 1.30 million compared with t823,000 previously or an earnings per share of 1.6 d (0.9p). The company is pacing an interim dividend of 0.86p (0.78p) on Jan 14, 1977.48 words
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Page 7 Advertisements
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Advertisement175 1976-10-25 7 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 toreach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who will175 words
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COMMODITY REPORTS AND PRICES
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Article187 1976-10-25 8 LONDON Sat The terminal on Friday, closed very quiet 0.05p near Dec at 59.70p per kilo to 0.50p down from Thursday. Volume totalled 26 lots which Included three further call options. The call options comprised two Apl/Jne 1977 premium 10.20 to 10.25p basis 64. 50p and one Oct/Dec187 words
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Article183 1976-10-25 8 THE Straits tin price in Penang on Saturday fell $4.62''i to close the week at $1.185.37'/i per picul on an official offering down 27 tonnes to 225 tonnes. In LONDON on Friday afternoon, tin showed no basic change on the day in either contract. The market erased earlier183 words
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Article122 1976-10-25 8 THE following Palm Oil prices were quoted in London on Friday. The price* are elf Rotterdam and are quoted In US dollars per lone ton unless otherwise stated. Friday Prev. Malaysian 5% ffa bulk Dec unch 438 sir Jan unch 435 sir Sumatra 5% Oct unch 470* Nov122 words
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Article275 1976-10-25 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY. Coconut Oil: Bulk $70 sellers, old drum $75 sellers, new drum $80 Copra: Mixed (loose) UK/Cont. $45 buyers. Pepper: Muntok ASTA white f o b. 100% NLW $325 sellers. Sarawak white 1 ob 96% NLW sellers. Sarawak275 words
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Article533 1976-10-25 8 Source: Swiss Bank Corp. Zurich AFTER the Deepavall holiday the Singapore gold market remained quiet with the kilo bar thinly traded between 559,200 and $9,240. For London delivery, the price was a nominal U*****.50 to $116.00 following the Friday afternoon fixing In London at US $115.50, down 65 centsSource: Swiss Bank Corp. Zurich - 533 words
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Article302 1976-10-25 8 LONDON, Sat. Copper wlrebars on the day lost £17 for cash and £18.50 for Three Months on Friday. The market continued to lose ground under further r stale bull liquidation prompted by a lower than expected opening at New York, dealers said. Three Months traded down to £793 per302 words
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Article228 1976-10-25 8 LONDON, Sat. Futures held steady during the afternoon on Friday on shortcovering and booksquaring in front of the weekend. At the close values were £1.15 to £0.25 higher. Sales were 1,821 lots. Dealers said the trend was aided by a steady New York market, Saturday's buying tender in Iran228 words
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Article31 1976-10-25 8 LONDON. Sat. Lead closed with all round losses of £5.50 per tonne on Friday afternoon. This metal held steady on the morning's lower levels in modest trading of 800 tonnes.31 words
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Article28 1976-10-25 8 LONDON, Sat. Zinc lost £5.'75 for cash and £7 for three Months. A steady tone was also maintained in this metal in routine dealings of 1.000 tonnes.28 words
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Article180 1976-10-25 8 LONDON Sat. Robusta futures closed slightly steadier with prices £12 lower to £10 up, (Near Nov at £1,965) to £10 higher per tonne from last night. Volume totalled 1824 lots which included 71 call options. Dealers said the terminal came off highest levels following stop loss selling and long180 words
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Article30 1976-10-25 8 HONGKONG Sat. The market was quiet with prices unchanged. The day's turnover totalled 29 tons comprising Thais 14, Kwangtungs 22 and AustraUas 13. Arrival was from Kwangtung 420 tons.30 words
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Article98 1976-10-25 8 Reuter WASHINGTON, Sun. The Agriculture Department announced an amendment to an existent Pi 480 agreement with Indonesia, which Increases the dollar value of the agreement by US$9 million to $96.6 million which that country can use to buy US rice. The USD A said the higherReuter - 98 words
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Article57 1976-10-25 8 Reuter STOCKS of rubber In Singapore at the end of August rose to 47,380 tonnes from 46,468 tonnes at end July, but fell from 49,293 tonnes In August last year, Statistics Department figures show. The August stocks comprised (July in brackets) dealer stocks of 47,378 tonnesReuter - 57 words
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Article63 1976-10-25 8 Reuter TOKYO, Sun. Japan's raw sugar imports rose sharply in September to a record monthly figure of 418,960 tonnes from 239,340 In August, the Finance Ministry said. It said the rise was due to increased shipments in advance of the imposition of as import levy onReuter - 63 words
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Article164 1976-10-25 8 LONDON, Sat. Silver on the day was 2.2 to 3.0 pence per troy ounce lower on Friday afternoon. Values drifted in long liquidation induced by the decline in US futures with Three Months trading down to 264.0p at the end of ring trading. But the lower levels found covering164 words
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MONEY AND EXCHANGES
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Article175 1976-10-25 8 FOLLOWING news of the revaluation of the West Oerman mark In the European joint float, the Singapore foreign exchange market opened very hesitant this week with the US unit being quoted at $2,4550/70. But some strong bidding saw the US unit being bid up to as high as 52.4580/90175 words
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Article274 1976-10-25 8 Asian rates THE week opened with short dates continuing its easier trend. The day to day was traded around 5 percent in the early part but eased to the 4 7/8 level by Thursday. The term money held steady thoughout the week with very minor fluctuation. ASIAN currency average deposits274 words
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Article134 1976-10-25 8 Euro rates LONDON Sat. Eurodollar deposit movements on Friday were minimal, continuing the recent quiet trend, defers said. Customary quiet preweekend trading further dampened business, but some dealers noted a slightly harder undertone in places after the recent downtrend. They said this apparent bottoming out in rates stemmed from increases134 words
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Article323 1976-10-25 8 CONTRARY to the anticipated tightening of the money market following the recent SSSOO million Government Bond Issue, the market reacted otherwise. Market operators attributed this to the inflow of funds from overseas. Houses experienced, huge surpluses throughout the week with overnight rates traded between 2 3/8 3 1/8323 words
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Article43 1976-10-25 8 THE week saw the rates easing by in the 1, 2 months and in the 3 months, to close at 4 3 7 A, 4 4 and 4 respectively. The overnight rates eased by 1 Vi to close at 2 Vt.43 words
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Article52 1976-10-25 8 FOR the week ended Saturday. Oct 23 the range of call rates received from Short Deposits (M) Berhad was as follows: GENERAL FUNDS: 3 3/4 per cent to 5 1/8 per cent. Movements of funds totalled $357 million. BANK FUND: 3 7/8 per cent to 5 3/852 words
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Article232 1976-10-25 8 LONDON, Sat. The mark erased early losses In major currency centres while the dollar generally moved higher elsewhere in Europe on Frldav. Speculation that Germany will shortly report a substantially higher trade surplus for September, possibly over three billion marks, took the mark to a closing 2.4215/25 against the232 words
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Article142 1976-10-25 8 NEW YORK, Sat. The lira was Indicated sharply higher In late trading here on Friday, following the announcement that the Italian Government Imposed a seven per cent surcharge on all foreign currency purchases. Tentative Indications In late trading put the lira higher at 0.1180 cents compared with 0.*****142 words
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Article414 1976-10-25 8 IN ZURICH, after the realignment of the snake parties, the tensions within the currency snake clearly abated and the situation of the foreign exchange markets generally calmed during the week. Having been revalued, the D-mark showed fluctuations in both directions, but the underlying tone was unmistakably firm. One factor414 words
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Article32 1976-10-25 8 FRANKFURT exchanges closing quotes on Oct 22 US 2.4225/35 Can 2.4915/25 UK 4.000/005 Neth 95.08/14 Switz 99.00/08 Italy 2.790/795 France 48.62/69 Japan 0.8255/70 Belg com 6.51/52 Belg fin 6.39/41 Norw 45.40/4432 words
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Article63 1976-10-25 8 Minimum lending rates (in ACBC 7 Alg«m«n« Bon* 7 Fw*» Chicago 7 Citibank 7 Bangkok Bonk 7V4 Bonk of Amorico 7 Bank of China 7V4 Bonk of Tokyo 7 Bank Ncgara 1 n donatio 7V4 HKSBC 7V4 lndo»u«r 7 Malayan Banking 7 Mittoi Bonk 7 OCBC 7 OUB 7 Chartered63 words
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Article844 1976-10-25 8 SINGAPORE'S produce dealers were once again hard put to meeting the Influx of buying orders from the leading markets In Europe, America and London last week. The two commodities in biggest demand were coffee and pepper. For want of fresh supplies from Singapore's traditional nearby844 words
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Page 8 Advertisements
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Advertisement140 1976-10-25 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business limes BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) Surface mail Zone Singapore Malaysia, Brunei Overseas Second class airmail (Individually w rapped and mailed) Zone Brunei, Sarawak. Sabah Australasia/Pacific (excluding140 words
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Article, Illustration668 1976-10-25 9 WHY MACKAY HAS RUN INTO TROUBLE Daily Express LONDON, Sun. DERBY, who have spelt entertainment and success across Britain and Europe for eight years, are deep In crisis. Only two factors can rescue the club: the willingness of most players, If they have sufficient pride inDaily Express - 668 words
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Article, Illustration540 1976-10-25 9 GOLF Daily Express NEW YORK, Sun. The Johnny Miller of women's golf would answer to the following improbablesounding set of statistics: Age: 31; height: 1.60 metres; weight: 66 kgs; years a professional: 14; tournaments won: 20; career earnings: nearly $1,125,000. She is married and has a seven-year-oldDaily Express; Source: AP - 540 words
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851 1976-10-25 9 DENIS HERBSTEIN - The White Club is still exclusive DENIS HERBSTEIN, in Johannesburg, sees South Africa's new sports policy in action DENIS HERBSTEIN The Guardian IF Dr Kissinger's Southern African shuttle had taken place last week, instead of last month, his visit to Pretoria would have been relegated to the inside pages ofThe Guardian - 851 words
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Article549 1976-10-25 9 SOCCER LONDON, 1 Mariner, th Plymouth 1 been In a fr> decision for mon -ek with his shooti In the end, as to have left It t- .»e day's matches to firm his mind: He Is now strongly expected to join Ipswich for £200,000 ($810,000) In549 words
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Article676 1976-10-25 9 MONDAY SPORTS GOLF ANCHOR-MAN Talib Haron of Keppel clinched the fourth place In the Singapore Putra Cup team with a sparkling a three-over-par 74 In the final round at the Buklt Course yesterday. Talib completed the seven-round trial with an aggregate total of 549 four strokes ahead676 words
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Article166 1976-10-25 9 The Raiders upset a tough Cardinals side 20-0 in their American Football Youth League match at Ulu Pandan over the weekend. The Raiders, with Derrick Brannan at quarterback, showed a wellbalanced offence to break through the Cardinals backline continously. Darrel Holt, Gary Price and Mike Nutter scored the166 words
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Page 9 Advertisements
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Advertisement117 1976-10-25 9 TAWA In time to come you'll agree with what we say here INSIDE Inside each Tanita is a unique high-performance transformer that guarantees you many years of troubie-free operation. This is not surprising as Tanita was the first to introduce the battery lighter in Japan OUTSIDE When we say our117 words
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Advertisement137 1976-10-25 9 HONMA* is setting the pace for a new ball game. Proven the longest hitting clubs by top professionals HONMA* cuts down the yardage from tee to green. Precision built to give you that solid feeling and perfect control of your golf shots HONMA* ensures better scoring in your game more137 words
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708 1976-10-25 10 SUNGEI Way Dredging's reply to a Kuala Lumpur Stock Exchange query on a series of acquisitions of 'United Biscuits Manufacturing shares (highlighted in the Oct 19 issue of the Business Times) is a good -illustration of the kind of 'situations that708 words
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Article372 1976-10-25 10 Reuter WASHINGTON, Sun. The Soviet economy is slowing down and Russians face the prospect of continuing shortages and shoddy goods for years to come, according to a US Congressional study released yesterday. The study, sponsored by the Congressional Economic Committee and based in part on informationReuter - 372 words
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Article365 1976-10-25 10 Reuter ROME, Sun. Foreign exchange dealers reacted with ■hocked resignation yesterday to the Italian Government's imposition of a tax on foreign currency purchases aimed at protecting the lira while new austerity measures get a chance to bite. All foreign currency bought by Italians willReuter - 365 words
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Article120 1976-10-25 10 AP BANGKOK, Sun. Texas Pacific Thailand Incorporated, a subsidiary of Texas Pacific Oil Company, incorporated of Dallas, Texas, announced it has discovered large natural gas deposits In a new well off the gulf of Slam South of here, Radio Thailand announced yesterday. The well, locatedAP - 120 words
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683 1976-10-25 10 DATA ON ARMS, DEFENCE AND SECURITY Reuter BONN, Sun. Iran's acquisition of Just over a quarter of West Germany's giant Krupp empire could give the Shah important information on new weapons, defence and security, experts here believe. The Krupp concern, which armed Germany inReuter - 683 words
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553 1976-10-25 10 SINGAPOREANS should be more sympathetic to the plight of the Singapore National Shippers Council and not look on its constant complaints against the shipping conferences as "one long nag." The troubles of the SNSC are eventually passed on to the ordinary citizen. This553 words
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Article408 1976-10-25 10 WITH the rapid increase In world trade and the resultant demands for more and better means of transportation, the economics of cargo movement has an important bearing on Singapore's trade development. Unless cargo carriers can provide an efflcent and economical transport system, the operations,408 words
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Article191 1976-10-25 10 Reuter BANGKOK, Sun. The military advisers to the new Thai Government today announced a purge of top civil servants Including the sacking of the Under-secretary of State for Foreign Affairs, Mr. Anand Panyarachun, who helped negotiate the U.S. withdrawal from Thailand. Also relieved of theirReuter - 191 words
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203 1976-10-25 10 Reuter UPI WASHINGTON, Sun. There is little or no prospect that Secretary of State Dr. Henry Kissinger will show up at the conference beginning in Geneva next week to discuss plans for majority rule in Rhodesia. Rhodelsan Prime Minister Ian Smith said yesterdayReuter; UPI - 203 words
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296 1976-10-25 10 KUALA LUMPUR. Sun. Commercial banks in the country are expected to piny n bigger role in assisting the Government to achieve its policy objectives during tbe Third Malaysia Plan, the Prime Minister Datuk Hussein Onn said last night. He added that it296 words
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Article103 1976-10-25 10 KUALA LUMPUR, Sun. Vast opportunities exist for Malaysian businessmen to take part In joint ventures in Saudi Arabia, Komplelcs Kewangan Malaysia (Malaysian finance com&lex) chairman Ghafar aba said yesterday. The Saudi Arabian fiveyear plan was being implemented with emphasis in the field of development, construction103 words
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Article510 1976-10-25 10 ARRIVALS Service Local Operator Number Time From JAL JL712 1000 HLP SIA SQ209 1010 HLP CPA CX710 1030 HLP OIA GA980 1030 HLP THAI T0423 1035 BKK OIA GA908 1100 MES PAL PR501 1115 MNL SAS SK097 1140 CPH/NDH/ BKK SIA SQ201 1200 HLP SIA SQ240 1205510 words
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291 1976-10-25 10 Reuter CAIRO, Sun. The Arab office for the boycott of Israel said yesterday that American companies violating their boycott would be banned from trading in Arab countries and be refused oil or raw materials from the Arab world, the Middle East News Agency,Reuter - 291 words
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Article49 1976-10-25 10 UPI RANGOON, Sun. Burma is in a position to export 570,000 tonnes of rice in the current fiscal year ending next March, Prime Minister U Sein Win said yesterday. Mr. U Sein Win made the disclosure in presenting the government's supplementary budget to the National Congress. UPIUPI - 49 words
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Page 10 Advertisements
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Advertisement266 1976-10-25 10 Bow Valley Exploration GEOLOGIST Negotiable around US$lB,OOO p.a. plus benefits ReL 216 We are a large Canadian oil and gas exploration company operating worldwide. We are now expanding our Southeast Asian operation in Singapore and are seeking to augment our staff by the addition of a well qualified geologist. Our266 words
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Advertisement118 1976-10-25 10 savours of JD Lunch or dine in a grill room that savours of Olde England with food just as savoury. An ideal place to combine business with pleasure cosy and private. English-manner service too. Ask for the Executive Lunch or any speciality from our new a'la carte menu. Lunch: noon-2.30118 words
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