The Business Times, 8 November 1976

Total Pages: 10
1 10 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) 1455/76 MONDAY, NOVEMBER 8, 1976 50 CENTS
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  • NEWS SUMMARY
    • 61 1 UPI TOKYO, Sun. The first Soviet film to be displayed in Peking in around 10 years has been telecast in the Chinese capital, the Tokyo newspaper Nlhon Kelzal said today. In a dispatch from Its Peking correspondent, the paper said the film, a documentary of the
      UPI  -  61 words
    • 41 1 MRS. Jehan El Sadat, wife of the Egyptian President, arrived here today for a three-day visit. She was met at the airport by Mrs. B.H. Sheares. Later she paid a courtesy call on President Sheares and Mrs. Sheares.
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    • 52 1 Reuter TOKYO, Sun. Japan's Prime Minister Takeo Mikl appointed former Construction Minister Ulchi Noda as director-general 'of the Economic Planning Agency In succession to Takeo Fukuda, who resigned from the Government yesterday, a government spokesman said. Mr. Mikl has decided not to fill the post of deputy
      Reuter  -  52 words
    • 82 1 Reuter KUALA LUMPUR, Sun. A five-member New Zealand delegation arrived here today to assess the progress of projects being Implemented In Malaysia with New Zealand assistance. Delegation leader Mr. David McDowell, Director of External Aid in the New Zealand Foreign Ministry told reporters on arrival here that
      Reuter  -  82 words
    • 76 1 BEIRUT, Sun. Warring factions in Lebanon fought fierce battles and shelled residential quarters for the fourth consecutive day today amid press reports President Ellas Sarkls was considering the declaration of a state of emergency to facilitate deployment of Arab security forces. Presidential Palace sources said
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    • 64 1 UPI MOSCOW, Sun. The Soviet Union has launched An explosion-proof oil tanker capable of carrying 150,000 tonnes of oil, the Tass News Agency said yesterday. The News Agency said the ship Kavkaz carries enough petroleum to equal 40 km train of tank cars. The tanker uses
      UPI  -  64 words
    • 95 1 UPI GENEVA. Sun. Rhodesia warned Britain today that accepting black nationalist demands for majority rule within one year could cause panic and a mass exodus of whites from the country. The warning was given to Mr. Ivor Richard, British chairman of the Rhodesia conference, as he
      UPI  -  95 words
    • 65 1 UPI TOKYO, Sun. Japan's major trade unions are seeking less year-end bonuses than they won last year because of slow economic recovery, the Labour Ministry said. The ministry said that until 1974 workers generally increased their demands 10-20 per cent over the preceding year. Labour organisations said
      UPI  -  65 words
  • 113 1 THE following list of stocks gives the 10 most traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units closing prices on Friday and high and low for 1976. Company Turnover Price* High Low 000 Nov. 5 1976 Haw
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  • LOCAL STOCK INDICES
    • 74 1 Nov. 1 Nov. 2 Nov. 3 Nov. 4 Nov. 6 B.T Index: 251.42 256.10 249.49 255.48 254.41 •Industrials: 247.94 249.22 247.98 249.31 249.80 (a>Ft nance: 455.64 458.70 454.56 455.64 454.11 "Hotels: 150.75 151.61 151.18 151.81 153.03 •Properties: 140.15 140.62 140.11 140.93 140.62 ♦Tins: 95.15 95.15 95.23 95.23 95.23 rubbers:
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    • 79 1 Nov. 1 Nov. 2 Nov. 3 Nov. 4 Nov.S B.T. Index: 186 65 191.72 185.64 192.86 191.05 •Industrials: 270.90 272.37 271.57 272.11 271.73 ©Finance: 388.88 393.52 388.38 390.70 388.08 ••Hotels: 169.27 169 20 169.20 169.20 109.20 •Properties: 142.23 142.75 141.70 142.23 141.41 ♦Tins: 93.28 93.48 93.54 93.95 94.17 rubbers:
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  • 303 1 CRITICS of lATA who see the end of the organisation as the beginning of a new era in the airline industry will have to think again if what lATA claims has any merit. In a hardhitting statement defending itself against the "cartel nonsense"
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  • 71 1 ABU DHABI, Sun. Malaysia today obtained a 17 million dirham (SSIO million) loan from the Abu Dhabi fund for economic development. The loan at four per cent annual Interest and to be repaid over 10 years would help finance a £15 million palm oil production scheme.
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  • 1055 1  -  ®y QUEK PECK LIM SCREEDS of airline woes are expected to be unfolded at the International Air Transport Association's 32nd annual general meeting opening at the Hyatt Hotel here today. Major among them Is the fact that airlines are Just not earning
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  • 911 1 Reuter LONDON, Sun. The British pound is expected to suffer on world money market this week following a weekend statement by Britain's Chancellor of the Exchequer that the national and local governments will have to borrow heavily to finance state welfare programme next
    Reuter  -  911 words
  • 79 1 Boumedienne the sole candidate Reuter ALGIERS. Sun. Algeria's first Presidential election for 13 years will be held next month, the government dally newspaper El Moudjahld reported yesterday. Mr. Houarl Bournedlenne, President of the ruling Council of the Revolution and Prime Minister, was adopted on Friday night as the sole candidate
    Reuter  -  79 words
  • 313 1 SINGAPORE is about to introduce a bank settlement plan for travel agents, and with the Philippines, Thailand and Malaysia considering or in the process of implementing such a system, there are possibilities for an Asean wide system. This was revealed by lATA director
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  • 147 1 Reuter ST. SIMON'S ISLAND (Georgia), Sun. President-elect Jimmy Carter said he had no regrets about his staunch pro-Israeli stand taken during his successful campaign against President Ford. Mr. Carter told reporters before coming here for a four-or five-day working holiday that he stood by his
    Reuter  -  147 words
  • 176 1 THE Monetary Authority of Singapore has indicated that all prescribed external be treated as approved investments for tax exempt purposes when they are held by approved pension and provident funds. This was stated in a circular to banks and merchant banks recently. Approval has
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  • 143 1 DAR ES SALAAM, Sun. Rich countries must commit themselves to building up the funds of the International Development Agency (IDA) for the sake of world stability, Tanzanlan Finance Minister Mr. Amir Jamal said in an interview with the governmentowned 3unday News today. Mr. Jamal said no
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  • 119 1 HONGKONG, Sun. Singapore Airlines Is negotiating for the lease of the Concorde, the British Aircraft Corporation's chief test pilot, Mr. Brian Trubshaw. said here yesterday. At a press conference held soon after the Concorde landed from Manila, Mr. Trubshaw said that negotiations for leasing the aircraft
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  • Page 1 Advertisements
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    • 75 1 1 {J Your business or professional practice may be just right for expansion. Your local or foreign trading all set for more profits. Solid investment opportunities are knocking on your door. You need the services of a solid, reliable bank. Smile, OCBC can help you. Come in and let's talk
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  • 672 2 TRADE unionists must remember that they should not resist the laying-off of workers In industries which are not competitive or whose overseas markets have declined, Dr Goh Keng Swee told a recent NTUC seminar on Maximising the Benefits of Productivity. On the face of It, this is harsh
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  • REVIEWS
    • 754 2 BOOKS COLIN CHEE review* National Accounts of West Malaysia 1947 1971 by V.V. Bhanaji Rao THE book carries within Its pages the first comprehensive statistical coverage of West Malaysia's national accounts over a 25 year period that stretches from 1947 to 1971. It
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    • 513 2  -  By PETER RIDDELL Financial Times Inflation and Business Policy, by D. E. Hussev. Longman, £6.95 THE INFLATION omens are hardly encouraging: The latest fall in the pound has finally forced the Government to admit that its single figure target will not be achieved in the
      Financial Times  -  513 words
    • 517 2  -  FILMS VINCENT CANBY previews The Slipper And The Rose VINCENT CANBY NYT WHENEVER I look forward to a review without pressures, I have thought to myself how pleasant it would be anticipating a new Hitchcock film, or a new Bunel, or an Astaire-Rogers
      NYT  -  517 words
    • 781 2 t MUSIC j THE ignoble latter-day savage, who cannot read music but who is an avid devourer of newspapers, needs little coaxing to like Hector Berlioz's Symphonie Fantastique. There may be difficulties keeping afloat with Mozart's Symphony No. 36 in C. K425. not
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    • 926 3  -  C BOOKS By CHRISTOPHER LEHMANN-HAURT NYT The Economists. By Leonard Silk. 294 pages. Basic. U5510.95 Understanding The Economy For People Who Can't Stand Economics. By Alfred L. Malabre Jr. 207 pages. Dodd, Mead. US$B.95 IF TWO such well-advised people as
      NYT  -  926 words
    • 1313 3  -  By T. EAMES HUGHES MONDAY: Early to office. M. inspects me to see whether I'm properly dressed for the day's engagements according to her instructions. Satisfied, she starts telling me what I have to do. I "Walt," I say "take a look at this" and flash the
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  • Page 2 Advertisements
    • 186 2 One source of expertise and supply, one source of service... for the building construction and engineering industries of Singapore. Co-ordination is extremely important in the planning and construction of any modern building it can mean savings of both time and money and can avoid the inconvenience of having to contact
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  • Page 2 Miscellaneous
    • 304 2 i SINGAPORE 5 3.00 PM Opening Announcements followed by Kudumba Malar (Tamil) (r) 3.35 Diary Of Events (Tamil) 3.40 General Hospital 4.20 Basic Ecology "Rocks Pools" 4.35 Intermission 6.05 PM Opening Announcements followed by Cool McCool 630 News In Brief 635 Beverly Hillbillies "Jethro In The Reserve" 7.05 Waterworld 730
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  • Page 3 Advertisements
    • 247 3 ma LUfIGEB BEFIEFSTS SURUEV HOW DO YOU VALUE YOUR PEOPLE? It is a policy question. A complex question difficult to answer without comparative facts. To answer the question objectively will require concise, up-to-date information on your industry's general wage structures, bonuses and fringe benefits. Such information is fundamental to the
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    • 144 3 MITSUI TRUST Beacon of Progress --iS .4 1 v .1. V l/pz g *fct <i. '4*J$ W j 4 N 2*?- Now at Shenton Way 9 The Only Japanese Trust Bank Office in Singapore. Chief Representative: Saburo Itoh. We are Japan's oldest trust bank and command a key position in
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  • Page 3 Miscellaneous
    • 498 3 Jumbo two-in-one crossword J J CRYPTIC PUZZLE ACROSS The repartee is like the old villain! (8) Make sure it's the sound of water (3) How the plane traveller dismissed the shipping strike? (6) Giving one's full attention to, aim (6) Double back in part of the theatre, to enthusiastic approval
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  • 1114 4  -  Anthony Ng reports from Melbourne Australian investors are looking to South-east Asia to set up their businesses because of its abundance of raw materials and cheaper labour costs. But the Australians are also facing difficulties in their ventures. Anthony Ng A LEADING industrialist in
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  • 1832 4 STEWART FLEMING REPORTS FROM NEW YORK 0N... As Singapore gets closer to having a regulated options market with every passing day that the chairman and the general manager of the Stock Exchange of Singapore are away studying the American and Australian share options phenomenon
    Financial Times  -  1,832 words
  • Page 4 Advertisements
    • 278 4 N-X<, m pßiwmm* mm mm S i B For modern office buildings and industrial complexes. Clean water used as a coolant for engines, machinery, generators, and air conditioners is cooled and re-used for maximum economy. Made of fibreglass reinforced polyester the Borneo Cooling Tower is lightweight yet tough as steel.
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  • Page 4 Miscellaneous
    • 217 4 Crossword CRYPTIC SOLUTION ACROSS. 9, Bad-in-age. 10, See (m). 11, Airily. 12, Intent. 13. P-laud-it. 14. Get*. 15. Statements. 17, Whistler. 18, Asp-Erse. 19, Plot. 21, Galley. 24, Does things in style. 27, H-as-ten. 29, Turn. 30, Ac-coats. 33, Misusage. 35, Firm denial. 36, Was-p. 37, Telling. 38, C-Art-on. 40,
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  • OVERSEAS
    • 477 5 TALKS ON COMMODITY TRADING TO OPEN SOON Reuter NEW YORK, Sun. Talks between US and British officials on rules covering Americans trading In commodity options markets In London are expected to be held after Nov. 8 but no definite time-table has been agreed. This was
      Reuter  -  477 words
    • 214 5 Reuter HONGKONG, Sun. The official New China News Agency reported yesterday that the value of Its light Industrial output had more than doubled since the start of the Cultural Revolution In 1967. Some 15,000 exhibits In the light industrv textiles and foodstuff halls at
      Reuter  -  214 words
    • 28 5 AP TOKYO, Sun. Chad and North Korea have signed an accord on economic and technological co-operation, the official Korean Central News Agency reported today. AP
      AP  -  28 words
    • 316 5 UPI TOKYO, Sun. There are widespread rumours in Peking's diplomatic community that a mission from Taiwan has visited the Chinese capital to propose a China-Taiwan federation, the Asahl newspaper of Tokyo said today. In a dispatch from its Peking correspondent, the paper
      UPI  -  316 words
    • 599 5 Reuter ALGIERS, Sun. The introduction of a world treasury and international taxes on raw material exploitation are among new Club of Rome proposals for bridging the gap between rich and poor nations. The Club, an Influential private of economists, scientists, lndustrallsts and
      Reuter  -  599 words
    • 197 5 HONGKONG, Sua. The m hi Itlw yesterday it had no objection to a resumption of trading in the chares of Wheelock Marden hare next Monday, following a request from the company and the Hongkong Fodorntion of Stock Excludes. Trading in the com pony's
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    • 157 5 AP TOKYO, Sun. The Organisation of Arab Petroleum Exporting Countries (C)apec) and Japan will hold, an international seminar In Tokyo next Thursday and Friday to exchange views on oil and other pending economic matters between Japan and Arab countries. The two-day seminar, under
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    • 41 5 AP BANGKOK, Sun. A military alert Imposed In Bangkok after a coup d'etat Oct 6 has been reduced by one-third, a military spokesman said today. A midnight to 4.30 a.m. curfew Imposed after the takeover remains in effect.
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    • 51 5 UPI RIO DE JANEIRO, Sun. The Brazilian Coffee Institute yesterday announced increases In the minimum export price of spray-dried Instant coffee from US$3.5O ($8.50) to $4.00 and for freeze-dried from $4.50 to $6.00 for half a kg. Minimum export prices on green coffee were not affected.
      UPI  -  51 words
    • 149 5 Reuter TAIPEH, Sun. Taiwan will have to borrow U556,724 million (5516.474 million) from foreign sources to finance the current six-year economic development plan which began this year, Vice Finance Minister Yang Chla-lin yesterday told the Legislative Yuan (Parliament). During the same period, he said, Taiwan expected to
      Reuter  -  149 words
    • 263 5 OCE-HAGEMEYER (Singapore) intends to Introduce Oce's range of microprinters .enlargers and computer output micro-film (comb) by 1977 and the offset and plate marker range by 1978. This follows the good response that the company has been getting from Its marketing of Oce's plain paper
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  • COMPANY NEWS
  • Page 5 Advertisements
    • 74 5 Any new product is a risk. But thereS a way to mprewe your chances of success, lalk to Cathay Advertising. We KNOW how. Telf*2(M7ll JOHORE BARU: Telephones: *****,***** INDONESIA: Jakarta Tel: *****-39.*****1 Extlo6 FOR SALE USED GENERATING SETS ENGLISH ELECTRIC MODEL 12CSY 1000 KW, 6600 VOLTS, 3 PHASE, 50 CYCLES,
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  • INTERNATIONAL COMPANY NEWS
    • 1206 6  -  By RICHARD PHALON NYT IT'S almost as though someone, somewhere had pulled a giant plug. Mutual fund stockholders have been cashing in their shares at a record clip all year in what may be one of the biggest mass withdrawals from equity securities since the
      NYT  -  1,206 words
    • 178 6 Reuter DETROIT, Sun. Chrysler Corp and the United Auto Workers Union have reached a tentative international agreement on a new three-year contract for UAW-represented hourly production and maintenance and parts employees in the US and Canada. No details of the tentative agreement were announced but
      Reuter  -  178 words
    • 180 6 NEW YORK, Sun. Citibank said the Indonesian state oil company Petamina technically defaulted on a syndicated loan for which the bank is agent. Pertamina, however, has not defaulted on payment of principal or interest and the technical default is due to an attachment that was not
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    • 163 6 Reuter LONDON, Sun. The Bank of England announced the issue of two new tap stocks, a t6OO million, 14 per cent treasury 1982, for issue at 98.25, and a t'6oo million 15V 4 per cent treasury 9996, for issue at 97.50, for both of i
      Reuter  -  163 words
    • 115 6 WOODCLIFF LAKE, NJ, Sun.;. Ingersoll-Rand Corp. said it has agreed in principle to merge with S and S Corp for an exchange of 0.365 shares of IngersoflRand per share of S and S Corp. Ingersoll-Rand said the merger is subject to the approval of the boards of both
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    • 31 6 SYDNEY. Sun. Utah Mining Australia has proposed a final dividend of five Australian cents, making a total of II cents (30 cents) for the year ended Oct 31, 1976.
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    • 83 6 Top 10 Pe#i 450 +58 Sth Msia Ind 170 +57 Straits Trading 525 +25 Sime Warrant 520 +20 Shangri-La 308 18 O C B 800 15 (ientings 271 14 l td Malacca 194- 14 END 273 13 Sime Darby 348 12 Bottom 10 Intraco 208 -22
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  • 2090 6 SECTION ONE INDUSTRIALS Gr'a Gr'a 1I7C Last «v Div yld P/E Val Dav High Low Ctapuy Sale +«r- A c'*r COOO) Hick Low 250 170 Acma 176 unch 12 ON 1.1 6.8 8.8 1 176 176 206 172 Alcorn 206 20.0 1.3 9.7 13.2 100 60 Allied
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  • Page 6 Advertisements
    • 213 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 laws
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  • WALL STREET + OTHER OVERSEAS MARKETS
    • 978 7 NEW YORK: New rears about the state of the US economy dealt the stock market Its worst hammering in more than five weekj last Friday. Blue chips and glamours, particularly those with adverse corporate news, attracted most of the selling pressure. The fresh economic worries came after the
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    • 271 7 AMSTERDAM: The market firmed last Friday although late profit-taking led to some stocks easing from their highs. Dutch internationals rose except Hoogoven* which was unchanged. Elsewhere shares firmed though Midden* lands bank fell. Insurances rose particularly strongly. KLM was unchanged while shippings were harder. State loans were slightly higher.
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    • 240 7 FRANKFURT: Most shares rose x> the clay's highs on instltuional buying in lively trading ast Friday, market sources said. Major chemicals led the narket. with Batf rising 4.50 narks, Bayer up 2.50 and Joechster two marks firmer. Among electricals AEG rose 2.80 marks. Sieawee 3.70 and Brown Boveri five
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    • 379 7 JOHANNESBURG: Gold shares firmed last Friday, following the higher bullion price, but trade was hesitant ahead of the weekend with US and Southern African political considerations restricting trade, dealers said. Mining flnancials firmed in line with golds. De Beer* closed at 320 (318). Coppers were slightly firmer in isolated
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    • 117 7 MILAN: Stocks were easier in virtually all sections last FrlXu., and Br«4« showed small improvements against the general NOV Lire Anlc 393 unch AaaocOen ***** -450 Butogl rn -32 Ccntnle flew -30 Flat 1393 -27 Flnalder 223 -0 5 Oen Immob n 2s -3.25 ITI Prl 1613 -50 It*
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    • 235 7 ZURICH: The market continued generally firmer last Friday with good liquidity In capita) markets, fuelling the advance, dealers said. Banks rose led by Bankverein while Swissair Bearer recouped most of Thursday's loss. Among financials Bally Bearer and Registered were sharply higher. The Credit Suisse index rose 0.4 point to
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    • 382 7 PARIS: The market was generally higher last Friday due to a firmer French franc in the foreign exchange market and to a further quarter percentage point fall in call money to 10 15/16 per cent. Engineerings and chemicals were irregular. PUK, which earlier announced a higher consolidated turnover in
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    • 143 7 BRUSSELS: The market was mixed to higher in quiet preweekend trading last Friday. Electrobel, Traction, HainautSambrf, Moaane. Cometra, Vieille Montagne, Arbed and A«turienne, rose. Sofina Hobo ken and Sidro fell. UK, German, Dutch and American issues rose, French stocks were steady, but gold mines little changed. All three Petroftna*
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    • 347 7 TORONTO: In the last session of a week of broadly unsettled share prices, Toronto Indices reflected a narrowly mixed market at the close of moderate trading last Friday. Most blue chips, papers and banks registered declines while western oils and mines were generally higher. Ford of Canada was up
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    • 437 7 TOKYO: The market again fell on Saturday, continuing the decline of the past four days The Dow Jones average iost 19.40 to 4,502.75 with volume of 100 million shares. The New index closed at 343.07 down 0.93. Many shares lost ground In early trading following a fall on Wall
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    • 122 7 FINANCIAL TIMES INDUSTRIALS a t Friday Thursday Week ago 308.7 301.1 276.7 I c TIN a f Friday Thursday Week ago 117.01 118.66 123.07 f L RUBBERS Friday Thursday Week ago 478.00 477.60 507.57 T P OILS Vk h Friday Thursday Week ago 368 70 362 61 352.51 ei
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    • 1436 7 On November 5 PRICES on the Chicago Board Options Exchange declined last Friday as losers topped gainers, 466 to 56. Volume approximated 78,405 contracts, compared with 75,879 contracts on Thursday. OPTION JAN APL JLY STOCK Alcoa 45 UNTRD NOL NOL 51 3/4 Alcoa 50 3 1/8 4
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  • 291 7 NYT THE stock market cast a negative, although possibly tentative, vote against president-elect Jimmy Carter last week. On Wednesday the first session following Tuesday's election the Dow Jones industrial average slumped nearly 10 points. On Thursday, when investors took a second look at the economic prospects
    NYT  -  291 words
  • Briefly
    • 88 7 HONGKONG. Sun. Hutchison International said it will retain its stake in Harbour Engineering following discussions with Harbour's managing director, Mr. Charm Hoi Sang. Hutchison said In September It was negotiating the sale of its 29 per cent stake with Mr. Charm. It has now been agreed Hutchison will
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    • 88 7 PARIS, Sun. The final decision whether to adopt a cash or forward market system for turning the Paris Bourse Into a single unified market will be made by the end of this year. Stockbrokers Association chairman, Mr. Yves Flornoy said. He did not state his own preference but
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    • 50 7 LONDON, Sun. Ingersoll group said it advised shareholders to take no action regarding the proposed bid of 33 by Lap Heng of Hongkong. The board said it is in contact with its financial advisers and will make a further statement when the formal offer from Lap Heng is received.
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    • 32 7 TOKYO, Sun. Pre-tax profit at Mitsui OSK Lines was 7.45 billion yen (7.21) billion) in the first half-year ended Sept 30, 1976. Gross sales was 186.3 billion (164.2 billion) yen.
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    • 41 7 LONDON, Sun. British Leyland said it is raising car prices by an average six per cent from Nov. 8. The increases range from 4.5 per cent on the deluxe Allegreo to 10.2 per cent on the range Rover and LandRover.
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    • 92 7 TOKYO. Sun. Kobe Steel said it reached agreement with Hammersley Iron of Western Australia on the extension of their bilateral long-term arrangements on low grade iron ore for pelletislng until 1990. The present two arrangements are valid until 1978 and 1983. Kobe Steel said. One deal calls for the
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    • 66 7 WASHINGTON. Sun. The Treasury Department accepted US$l billion of bids for its 23Vi year bonds at an average yield of 7.79 per cent. Bids totalled $1.5 billion. The high yield was 7.81 per cent and the low yield was 7.76 per cent. The accepted bids included 30 per
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    • 47 7 WASHINGTON, Sun. Liabilities of US banks to their foreign branches fell US$2l5 million to $5.23 billion in the week ending Oct. 27, the Federal Reserve Board said. This was $2.32 billion higher than the level of Eurodollar borrowings in the week ended Oct. 29, 1975.
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    • 51 7 LONDON. Sun. Booker Mcconnell said It offered one of its ord shares for every six ord shares of Central Wagon. The directors of Central Wagon consider the offer fair and intend to recommend acceptance to shareholders, while accepting on behalf of 0.8 per cent of the issued share
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    • 53 7 FRANKFURT. Sun. —The North Sea gas consortium, a Norwegian-based company largely owned by Phillips Petroleum and Petrofina plans to float a 100 million mark Eurobond, early next week, banking sources said. Final details have not been fixed but the loan will probably have a maturity of 10 to 12
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    • 71 7 LONDON, Sun. Sodra Skogsagarna (Sodra) of Sweden, said it plans to offer US$2O million guaranteed bonds, 1986. in the Euroband market. Final terms will be fixed at the offering date on Nov 17, but the coupon is expected to be 9-1/4 per cent payable annually. The issue is being
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  • Page 7 Advertisements
    • 176 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 to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who
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  • COMMODITY REPORTS AND PRICES
    • 236 8 LONDON, Sat. The terminal closed steady on Friday, mostly 0.50p (Jan 62.00p buyer) to 2p up from Thursday's close. Volume totalled 210 lots of 15 tonnes. There were four further call options posted comprising two Apl/Jne 77 premium 10.50p basis 68.50p one Jan/Mch 78 premium 15.50 basis 75.90p
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    • 180 8 THE Straits tin price in Penang yesterday closed the week up $6.25 to $1209 37ft per picul on an official offering up 34 tonnes to 260 tonnes. In LONDON on Friday afternoon, tin was about C 72 up for Cash and C5O higher for Three Months in both
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    • 121 8 THE following Palm Oil prices were quoted in London on Friday The prices are elf Rotterdam and are quoted in US dollars per long ton unless otherwise stated. Friday Prev. Malaysian 5% ffa bulk 458 sir Dec unch. Jan 460 sir 455 sir Sumatra 5% Nov unch. 480
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    • 230 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk $72 sellers, old drum $77 sellers, new drum $82 sellers. Copra Mixed (loose) VK/Cont. $45 buyers. Pepper: Muntolt ASTA white f.o.b. 100"» NLW $325 sellers. Sarawak white fob 96* NLW $307 Vi sellers. Sarawak special
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    • 420 8 Source: Swiss Bank Corp. Zurich THE Singapore gold market was firm In light trading on Saturday morning. Following higher levels overnight the price advanced during the morning from U*****.00 per ounce to close at $127.80. The kilo bar changed hands in the range of $10,100 to $10,150 and closed
      Source: Swiss Bank Corp. Zurich  -  420 words
    • 119 8 LONDON, Sat. Silver on the day gained 3.3 to 2.5p per troy ounce on Friday. Profit taking pared the early advance before small scale shortcovering partly reversed the trend. Trading was desultory, however, with only 29 lots changing hands. Spot silver closed slightly firmer at 267.5/ 268.5 compared with
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    • 48 8 LONDON, Sat. Zinc gained 19.75 for cash and 18.25 for Three Months on Friday. This metal also scored further gains on moderate covering which lifted Three Months to 1386 per tonne before profit taking eased the position to 1381.50. Sales of 2150 tonnes were about half carries.
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    • 46 8 LONDON, Sat. Lead rose by 18.75 for Cash and 16.75 for Three Months on Friday. There was some follow through demand which took Three Months up to 1298 per tonne before profit taking pared the advance by I' 2 per tonne. Sales were 1050 tonnes.
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    • 259 8 LONDON, Sat Copper wlrebars on the day showed gains of L 17.50 per tonne for Cash and 116.50 for Three Months on Friday. The market showed further resilience as additional shortcoverlng established a new high for the movement of iB3O per tonne for Three Months before profit taking eroded
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    • 214 8 LONDON, Sat. At the close on Friday, prices rose from the lows on shortcovering to finish 11.60 to t0.35 higher. Sales were 2,714 lots. Futures had moved lower during the afternoon under mixed selling and profittaking prompted by an easing in New York. In NEW YORK on Friday, World
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    • 134 8 CHICAGO. Sat. Wheat futures closed with losses of 2Vi to 4'/« cents a bushel but finished above the lows on Friday. After firming initially, prices moved downward on a weakening in Soybean futures. The decline halted, however, around seasonal lows, with only the July and September slipping fractionally lower.
      134 words
    • 625 8 PRICE incompatibility made for generally quiet trading in the Singapore produce market last week. Firm buying orders from the big traditional markets In the west were left mainly unsatisfied. Uncertainties arising from the changing value of sterling exerted its fair share of restraining influence on
      625 words
    • 275 8 LONDON, Sat. Robusta futures closed slightly easier on Friday, but 160 (Nov 12,185 buyer) to 150 higher compared to Thursday's close. Volume totalled 3387 lots including 87 options. Market sources said traders became unwilling to hold positions at the higher levels over the weekend and the market eased back
      275 words
    • 81 8 CHICAGO, Sat. Soybean futures recovered losses in a late rally to close one to five cents a bushel higher on Friday. After an early advance on a carryover of speculative buying failed to hold, local selling turned prices downward. Losses extended to around six cents in the fairly
      81 words
    • 42 8 HONGKONG. Sat. The market was quiet with prices unquoted. The day's turnover totalled 65 tons comprising Thais 20 tons. Kwangtuhgs 35 tons and Australias 10 tons. Arrival was from Kwangtungs 336 tons. In BANGKOK on Friday, rice prices were also unchanged.
      42 words
    • MONEY AND EXCHANGES
      • 171 8 DESPITE undergoing a period of uncertainty In hectic and volatile trading, sterling remained calm in the Singapore forex market. However, the British unit made a remarkable recovery to touch a peak level of U551.6320/40 against the US dollar as sources believed that some action will be taken to reduce
        171 words
      • 245 8 Asian rates RATES remained stagnant for the week, with interests mainly centred on threes and sixes. The Ml and M 2 were up 1.8 and 3.4 respectively, but it had little effect on the rates. Short dates were steady. ASIAN currency average deposits rates for the week ended Nov. 5.
        245 words
      • 313 8 ALTHOUGH a leading local bank cut its prime rate by l U per cent to 6*« per cent on Monday, the interbank money market firmed up slightly on the same day. Market sources were of the view that the market was still in a surplus position and attributed
        313 words
      • 59 8 OVERNIGHT funds were traded at about 1 1/8 higher than last week to close at 3 1/16 1/8 on Friday. It fluctuated within 1/4 percent during the week. Terms firmed by 7/16,1/4, 1/8 in the 1, 2, 3 months in a thin market to close at 3 3/4
        59 words
      • 48 8 FOR the week ended Saturday, Oct 30 the range of call rates received from Short Deposits (M) Berhad was as follows: GENERAL FUNDS: 3 per cent to 4 per cent. Movements of funds totalled $453 million. BANK FUND: 2% per cent to 3* per cent.
        48 words
      • 247 8 LONDON, Sat. Sterling drifted back from its session highs in European currency markets, but still held a modest advance in several centres amid reviving confidence over its propspects on Friday. The pound closed at U551.6270/90 from $1.6255/75 overnight, after touching $1.6425 earlier. Its trade-weighted depreciation rate closed unchanged at
        247 words
      • 373 8 In ZURICH over the week, Sterling recovered very strongly (to more than USSI.64 from a low of $1.5860 early in the week). This may partly be due to short coverings. More important, however, is the belief that the I.M.F. will in all likelihood impose rather stringent conditions on the
        373 words
      • 60 8 Minimum lending rates (in ACBC 7 Atgemene Bank 7 Bangkok Bank .7'* Bank of America 7 Bank of China .7^ Bank of Tokyo 7 Bank Negara Indonesia .Vz Chartered Bank 7 Chase Manhattan 7 DBS .6'« First Chicago 7 Citibank 7 HKSBC .V* Indosuez 7 Malayan Banking i Mitsui Bank
        60 words
      • 90 8 NEW YORK, Sat. The dollar closed slightly stronger on balance on Friday compared with Thursday's levels despite a small rise in October US, unemployment, dealers said. The mark eased in light trading to 41.27/29 cents from 41.30/33, the Swiss franc fell to 40.92/94 from 40.96/98 and the Canadian
        90 words
      • 146 8 Euro rates LONDON, Sat. Eurodollar deposits closed on Friday, unchanged from opening steady levels after minimal movement and slack trading, dealers said. Very quiet conditions were ascribed to usual preweekend conditions, a lack of prime taking interest and very light rollover operations. Some dealers noted a tendency for funds to
        146 words
      • 32 8 FRANKFURT exchanges closing quotes on Nov. 5 US 2.4200/15 Can 2.4870/80 UK 3.97/98 Neth 95.75/83 Switz 99.09/14 Italy 2.79/80 France 48.47/54 Japan 0.8190/8210 Belg Com 6.50/51 Belg Fin 6.44/45 Norw 45.64/72
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      • 134 8 Reuter LONDON. Sun. An unidentified Swedish borrower is planning to raise $30 million through a private placement carrying a new low coupon of 7%» per cent, bond market sources said. Present issues not yet priced include New Zealand borrowing $100 million for 10 years on an
        Reuter  -  134 words
  • Page 8 Advertisements
    • 163 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 wrapped and mailed) Zone Brunei, Sarawak. Sabah Australasia/Pacific (excluding Hawaii)
      163 words

  • 1470 9  -  The skill lies in the selection of your route and pace By CHRIS BRASHER The Observer What have these lonely mountains worth revealing? More glory and more grief than I can tell. EMILY BRONTE THE glory cannot be told because it
    The Observer  -  1,470 words
  • 652 9 WW Wf j iMfliM'J iiii'iiii AP LONDON, Sunday Liverpool won 1-0 at Sunderland on a goal by David Falrc lough and kept a three point lead In the race for the English Soccer Championship yesterday. Trevor Whymark scored four goals as Ipswich hammered West Bromwlch 7-0
    AP  -  652 words
  • 922 9  - GOLF CLEAN, CRISP AND CLASSY GOLF Pictures by JERRY SEH IT was world-class golf simple and straight-for-ward with clean, crisp strokes. That was how the world's best,women golfers played the game before an unusually large gallery at the Bukit Couse yesterday. The occasion: The Colgate pro-am golf tournament. The mood:
    922 words
  • 666 9 JAPANESE SPORTS SCENE TOKYO. Sunday. Japanese sports fans, still recovering from the exciting climax to the baseball season, face another extravaganza next week in the Japan Open golf tournament. one of the world's richest. A total of 120 golfers from the United States. Europe
    666 words
  • Page 9 Advertisements
    • 69 9 OPENING FOR PR EXECUTIVE PUBLIC RELATIONS Consultancy with strong international and regional connections has opening for young, trained PR executive. Must have personality which will enable working eventually at top level with major clients. Experience in print media work and newspaper background would be an advantage. Applications. with career details,
      69 words
    • 130 9 i <Tv Lyhm N> V 1 V- &JeZ >V <' V The goK clubs designed precisely to ensure definitioii in your gome mere consistently. With LYNX the club that gives you a larger 'sweet-spot' you can attack the ball fearlessly and yet have the great feeling of a well-struck shot.
      130 words

  • 275 10 GENTING Highland which saw a strong market last week Is the subject of persistent rumours linking it with Golden Hope, whose shift In domicile to Malaysia was announced at the beginning of last week. London-based Golden Hope and its sister plantation companies under
    275 words
  • 258 10 Reuter GENEVA, Sun. Britain today makes a fresh attempt to break the deadlock at the Rhodesia conference here over an Independence date for its breakaway colony. But Mr. Ivor Richard, the British conference chairman, told reporters after meeting the Reverend Ndabanlngl Sithole, leader of
    Reuter  -  258 words
  • 322 10 PETALING JAYA, Sun. The Malaysian Trades Union Congress was told today to refrain from taking every available opportunity to hit out at the Government over changes to the labour Jaws. Labour and Manpower Minister, Datuk Lee San Choon said the MTUC's proposals
    322 words
  • 98 10 A RANGE of instruments and equipment for the control of temperature, liquid gas and pressure in the chemical and petrochemical Industries as well as manufacturing, will be displayed at a four-day exhibition of US process control equipment, to be held here on Dec 7 at the US Trade
    98 words
  • 141 10 A SEMINAR m securities investment is being organised from Nov U to 24 (BJLA.) Iti uia ynrptMj^U the In tost tecbnlqnoo on socuritias analysis and compater device is share analysis. Speakers nre Mr. Jsmee Wright Cewu, nn inveetment nonnsoller, nad Mr. Lee Gerdoa
    141 words
  • 84 10 SINGAPORE Airlines said yesterday that It expects to carry well over two million passengers by the end of March 1977 compared with 1.9 million passengers during the last financial year. In the half-year ended April 1976, the airline carried a total of 1.06 million passengers, an
    84 words
  • 56 10 THE manager of Nordlsk Solar Compagnl, Mr. Mogens Gronemann, will be visiting Singapore from Nov. 13 to 18 as part of his business tour of the Far East. Nordlsk Solar Compagnl is a leading manufacturer of electric articles and light fittings In Denmark. The company Is
    56 words
  • 64 10 THE latest In a series of Seiko Quartz Fairs, held at major cities throughout the world, will be held here from tomorrow. The six-day exhibition to be held at Isetan, will provide full Information on the development, operation and production of both the analog and digital
    64 words
  • 68 10 NEW Zealand High Commissioner, O.C. Hensley, will be presenting a $150,000 cheque to Dr. Lee Kum Tatt, chairman of the Singapore Institute of Standards and Industrial Research (SISIR) on Thursday for the final phase of the New Zealand/ SISIR non-destructive testing development programme which started In
    68 words
  • 464 10 NO PROGRESS SINCE JANUARY NYT WASHINGTON, Sun. The Labour Department reported on Friday that unemployment remained stuck on a high plateau in October and that there was no gain in employment. The monthly labour force report lacked a single significant bright spot.
    NYT  -  464 words
  • 465 10 AP SEOUL, Sun. Despite a tight news blackout, there was some open discussion last week In the National Assembly on allegations that South Korea tried to bribe US Congressmen to seek a favorable legislative climate. At the Assembly's Foreign Affairs Committee, opposition New
    AP  -  465 words
  • 443 10 NYT LOS ANGELES, Sun. Justice Department Investigators have obtained records of secret Bahamian bank accounts of Mr. Park Tong Sun, a South Korean businessman, showing that he brought large amounts of cash Into the United States over the last five years, sources familiar
    NYT  -  443 words
  • 201 10 Reuter VIENNA. Sua. Oil expertise countries must exercise restraint in their future price demands, Indonesian Mines Minister and Opec president Mr. Mohammad Sadli said in the New Opec Monthly Review. Mr. Sadli said Opec aesmed to hnve survived recent pressures and strains fairly well. "I am
    Reuter  -  201 words
  • 199 10 Reuter WASHINGTON, Sun US special trade representative Frederick Dent confirmed he has been Informed that a panel of experts from the General Agreement on Tariffs and Trade has found that the US Domestic International Sales Corp (Disc) violates Gatt rules. The Gatt panel
    Reuter  -  199 words
  • 150 10 IPOH, Sua. Logging spsrart— In the timber forest areas of Perak has boon drastically reduced la the past «hs heeaaee at had wwthir "A number of legging companies have stepped work with their worker* leaving cnmp on vacation or to seek other temporary jobs
    150 words
  • 119 10 PUBLISHERS of Form! Industries and World Wood will be ipootorini their second South-East Asia Sawmill seminar between Nor 18 and 18 next year to increase the technical knowledge of those in the sawmill industry. The seminar will he held in Manila, at the Philippine
    119 words
  • 547 10 ARRIVALS Operator Service Number Local Time From CPA JAL SIA OIA CPA THAI OIA PAL SAS KLM CX003 JL712 SQ211 OA980 CX710 TG423 OA908 PR501 SK097 KL8U 0145 1000 1010 1030 1030 1035 1100 1115 1140 1145 HKO HLP HLP HLP HLP BKK MES MNL CPH/NDH/BKK AMS/ABD/KHI/
    547 words
  • 374 10 KUALA LUMPUR, Sun. The recent move to restrict further log exports Is made to ensure the Industry's long-term expansion and stability. In a message to the threeday National Timber congress beginning here tomorrow, Primary Industries Minister Datuk Musa Hltam. said It will encourage
    374 words
  • 117 10 THE Singapore D rich of the Chartered Institute of Transport will be holding its annual general meeting on Wednesday at 6 pm at the Civil Servants' Sports and Recreation Club. Established In 1971, the Singapore branch has a membership of over 350, covering a wide spectrum of the
    117 words
  • Page 10 Advertisements
    • 127 10 required for M/UOR AMERICAN FULL LICENCE BANK Responsibilities The successful candidate will be fully versed in the Foreign Exchange and ACU markets. He or she will be expected to aive full support to the Chief Dealer and be responsible tor the department in his absence. Qualifications Minimum two years experience
      127 words
    • 19 10 in/IGHT HOLIDRV/ The Executive's Travel Agent Suite 1 0. Catha, Buiiding Mount So* hiri t Sinqap >re 9 Telephone
      19 words
    • 80 10 ite fe A m 1 u I'd! I w 4 J V A 5 s tit J savours of Olde England 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
      80 words