The Business Times, 16 December 1976
1976-12-16
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The Business Times
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Title Section10 1976-12-16 1 BUSINESS TIMES M.C.(P) 1455/78 THURSDAY, DECEMBER 16, 1976 50 CENTS10 words
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NEWS IN BRIEF
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Article51 1976-12-16 1 Reuter MOSCOW, Wed. Mr. P.S. Raman, Singapore's Ambassador to the Soviet Union, died In Moscow today after a heart attack. An embassy spokesman said Mr. Raman, who had served In the Soviet capital since 1971, collapsed In a Moscow underground station while showing guests around the city.Reuter - 51 words
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Article67 1976-12-16 1 UPI BAOHDAD, Wed. An explosion, believed to fce set off by a timing device, ripped through k crowded airport terminal In. Baghdad, late yesterday, causing hundreds of casualties and halting air traffic for a time, according to reports today. A British Airways spokesman In London said upUPI - 67 words
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Article65 1976-12-16 1 KUALA LUMPUR, Wed. The Copyright Committee comprising 12 members, will meet In January to discuss -amendments for the existing Copyright Act to prevent book piracy from becoming rampant. A spokesman from the Commerce and Industry Ministry said today the discussion will Include people from the Education Ministry,65 words
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Article67 1976-12-16 1 UPI LONDON, Wed. Barclays National, a subsidiary of Barclays Bank, said today it has invested approximately £6.5 million (5126.9 million) In South African defence bonds. It is the biggest single subscription so far to the defence bond fund, which now stands at about £60 million. South African lawUPI - 67 words
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Article111 1976-12-16 1 Reuter DOHA, (Qatar,) Wed. Opec oil ministers, after opening talks here today, said they were confident they will agree to raise oil prices in the new year in spite of Saudi Arabia's declared wish to see them remain frozen for another six months. The oil ministersReuter - 111 words
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Article70 1976-12-16 1 UPI JAKARTA, Wed. Indonesia today secured a US$75 million (SslBs million) commercial loan for the construction of an oil refinery In central Java, it was announced today. The agreement was signed in Jakarta by representatives of the Bank Indonesia the Indonesian central bank and of a consortiumUPI - 70 words
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Article43 1976-12-16 1 UPI NEW YORK, Wed. Dow Jones averages, based on the first hour of trading today on the New York Stock Exchanges: 30 Indus 982.80, up 2.17,20 transp 233.80, up 0.95; 15 utlls 105.89, up 0.35; 65 stocks 319.01, up 0.91. UPIUPI - 43 words
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Chief Price Changes
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Article, Illustration188 1976-12-16 1 GOOD gains were recorded by shares at the Stock Exchange of Singapore yesterday as trading turned buoyant alter a hesitant opening. Haw Par rose six cents to $1.13 while Sime Darby was up eight cents to $3.38. The Business Times index rose 5.62 points to 257.79 while188 words
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Article115 1976-12-16 1 Ri*«f Most active Taagfcah Harb. $1.52 +.12 Haw Par 418,000 M.B.S. $3.32 .10 Central Sugar* 160,000 O.C.B.C. 17-90 .10 General Lumber 147,000 Intra co NJ.T. $2.10 .08 Inchcape 106,000 $3.22 +.06 Total Turnover: 1.89 tl 8 tie Darby SupraaeCorp. $3.52 $1.55 +.06 .06 Total Value: M$3.37 M115 words
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1461 1976-12-16 1 JOHN TAN - Price of an oil hike for S'pore $150m A HOST OF OTHER EFFECTS TOO •y JOHN TAN SINQ APORE will lose about a fifth of her current annual foreign exchange surplus, or between $150 million and $200 million, if the Opec meeting which began yesterday in Qatar raises the price1,461 words
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481 1976-12-16 1 THE Finance Minister, Mr. Hon Bul Sen, last night predicted that Singapore will end the year with a growth rate of seven per cent and that this rate can probably be maintained In 1977. He said this In answer to questions481 words
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Article518 1976-12-16 1 LONDON, Wed. British Chancellor of the Exchequer Denis Healey told Parliament today he planned to reduce Britain's budget deficit by £3.5 billion (8514.5 billion) over the next two years. Mr. Healey was presenting a package of economic measures to the House of Commons designed to restore518 words
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Article143 1976-12-16 1 Renter NEW YORK. Wed. Starting Ml sharply ia aer«M trading here this asralag as details sf Britala's mohblc package were prooontod to Parliament, dialers sakl. It Ml am than a cent ia a few mlantee freai USsl.sB3 to U551,674. Dealer* said tke aaihat was mrnmpetßtoi with the measures,Renter - 143 words
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178 1976-12-16 1 Reuter HONGKONG Wed. Hongkong Land said it is terminating its merger discussions with Wheelock Marden by virtue of the lack of information being provided. It said in a statement it had been told that no farther information on Wheelock Marden would be provided. SinceReuter - 178 words
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Article89 1976-12-16 1 ATLANTA, Wed. Mr. Jimmy Carter, U8 President-elect, said at a press conference that America's economic problems are very severe. Asked If he considers the U8 is suffering a recession, he replied: "It's obvious that the economic circumstances are much worse than we had anticipated six months, or89 words
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635 1976-12-16 1 KUALA LUMPUR, Wed. Oentlng Highlands broke Its silence over the proposed Oolden Hope-London Aslatlc-Patallng merger with confirmation yesterday that It will go out to block It. All that remains for the group to do until the Jan 10 extraordinary general meeting Is to muster635 words
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Page 1 Advertisements
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Advertisement35 1976-12-16 1 Colour TV is simply great INSIDE Otmi»u new»/TV •mi Radio Oversee* newa/Features Local Co news International Co news Local stocks Overseas stocks P3 Features P4 Local ft O* PS PI Local 4 0\ P7 w35 words
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Advertisement28 1976-12-16 1 Sole Agents ROOT (STORE) PTE. ITDI 483. Tanghn Halt Ftoad. Singapore 3 Tel *****1. ROKYOTSIA) SEN BHDI Lot 16. Jalan 223. Section 14. Petaling Jaya. Setangor Tel 03-*****728 words
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Advertisement168 1976-12-16 1 WHISKY 100% SCOTCH WHISKIES blended and bottled in Scotland under Government Super*!*ion Imported by Cold Storage SEE PAGE 4 DOCUMENT PROCESSING DIVISION DT-1200 reUabHty ahead of its time We have all been waiting for it. Now it's here. The outstanding DT-1200 introduces a technological break-through into office copying machine reliability.168 words
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OVERSEAS
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493 1976-12-16 2 AP NICOSIA, (Cyprus), Wed. Iraq has announced It will pour US$49 billion (Ssl2l billion) into an ambitious five-year development plan concentrating on agriculture and Industry. The 1976-80 plan will be 13 times larger than Iraq's previous development plan, the Iraqi News Agency quotedAP - 493 words
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Article98 1976-12-16 2 Reuter BRUSSELS, Wed. Spain's new ambassador to the Common Market Mr. Arimundo Basso Is, told EEC leaders today his country will apply for EEC membership next year after the general elections in March, Informed sources said. Mr. Basso Is expressed his country's firm resolve to JoinReuter - 98 words
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Article268 1976-12-16 2 NEW YORK, Wed. Democratic President elect Jimmy Carter's actions are enhancing business confidence In the administration, Citicorp chairman Walter Wrlston said. He told Reuters in a telephone interview that the outlook for the US economy in the coming year depends largely on business268 words
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Article, Illustration315 1976-12-16 2 Reuter WABHINOTON, Wed. President Ford ha* approved a 1978 defence budset of U*****.9 billion (*****.5 billion), 11 billion more than the amount voted by Congress for the current financial year, government sources said today. The proposed budget left little room for further cuts byReuter - 315 words
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Article207 1976-12-16 2 AP LUXEMBOURG, Wed. The European Parliament has turned down, 41 to 34, a proposal to tax vegetable oils that would hit US exports of soya to the nine countries of the EEC. The decision is not binding on the governments, but It does lessen theAP - 207 words
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434 1976-12-16 2 Reuter FRANKFURT, Wed. The Bundesbank said it believes the German economy currently has enough natural momentum to ensure a measured upturn continues, provided the right wage policies are adopted. The strategy of economic policy for 1977 will be to dampen Inflation further andReuter - 434 words
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Article198 1976-12-16 2 Reuter HAMBURG, Wed. The IG Metall trade union is claiming a 1977 wage increase of 9.8 per cent for the 87,000 metalworkers in the Hamburg area, a union spokesman said. The claim, the first in the metal processing industry this year, will probably also applyReuter - 198 words
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Article91 1976-12-16 2 Reuter CANBERRA, Wed. The Federal Government Is currently re-assesslng the target It set In the budget for the growth of money supply this financial year, Treasurer Philip Lynch said. He told a press conference present circumstances clearly required a revision of the 10 to 12 per centReuter - 91 words
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Article91 1976-12-16 2 AP OTTAWA, Wed. The export tax on oil shipped to the United States from Canada will increase by 85 Canadian cents (Ss2 09) a barrel effective Jan 1, the National Energy Board ?he rate will go to $4-60 a barrel for light and mediumAP - 91 words
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341 1976-12-16 2 AP MADRID. Wed. Spaniards went to the polls today to vote on a political reform package that the Xovernment of Premier dolfo Suarez hopes will bring Bpaln more in line with her democratic neighbours in Western Europe. In an 11th hour appealAP - 341 words
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910 1976-12-16 2 IS ANYONE in charge of the White House, or has the American Government moved to the tiny town of Plains, Georgia? There is an unwritten rule in Washington, that you don't take over The Man's job until he's actually leftNYT - 910 words
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378 1976-12-16 2 UPI BEIRUT, Wed. The Port of Beirut, scene of intense house-to-house fighting and heavy looting, reopens to shipping today, port director Philippe Tawily said. Salvaging the giant harbour, once the busiest In the Middle East and the gateway to half a dozen Arab countries,UPI - 378 words
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Article208 1976-12-16 2 Reuter KINGSTON (Jamaica), Wed. Voting takes place amid tight security In crucial general elections in Jamaica today after the most violent campaign in the island's history. Some kind of violence has always attached to Jamaican politics, and Prime Minister Michael Manley told a press conferenceReuter - 208 words
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Article, Illustration492 1976-12-16 3 WASHINGTON, Wednesday PRESIDENT-elect Jimmy Carter's choice for Secretary of Transportation, Mr. Brock Adams, can be expected to lead a drive to revitalise America's deteriorating railroad system. Mr. Adams, a Washington democrat, believes railroads must become more efficient to compete with such other forms ofAP picture - 492 words
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236 1976-12-16 3 Reuter PARIS, Wed. Deputy Finance Minister Michel Durafour said fears about the outlook for France's economic growth and unemployment levels next year appear excessive. He told the Economic and Social Council a consultative body grouping representatives of government, industry and unions, the pesslsmism is basedReuter - 236 words
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Article110 1976-12-16 3 Reuter OTTAWA, Wed. Prime Minister Pierre Trudeau said the federal government has now provided provinces with enough financial power that they should see the merits of a continuing federal state. Mr. Trudeau told a news conference at the end of a two-day conference of federal-provincialReuter - 110 words
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189 1976-12-16 3 Reuter FRANKFURT, Wed. East bloc countries are becoming more active and sophisticated borrowers on the short-term Euromoney market, apparently in a bid to diversify methods of raising funds from Western banks, Euromarket bankers here and in Luxembourg said. The borrowers, state banksReuter - 189 words
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Article37 1976-12-16 3 Reuter PARIS, Wed. French gas and electricity workers have begun a 48-hour strike In protest against the management's decision to refuse a two per cent cost of living Increase jiext year, a union spokesman said. Reuter.Reuter - 37 words
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465 1976-12-16 3 PARIS, Wed Reuter FRENCH car manufacturers are cautiously optimistic about their 1977 prospects, but the outlook for the second half of the year Is very uncertain, Industry spokesmen told Reuters. The current strength of the private car sector Is expected to continue IntoReuter - 465 words
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Article111 1976-12-16 3 Reuter BRUSSELS, Wed. The one-day European Economic Community finance ministers meeting planned for Dec 20 has been cancelled, EEC officials said. They said the meeting, which was due to discuss the EEC loan to Italy and the Community's medium-term economic programme, will probably take place early nextReuter - 111 words
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777 1976-12-16 3 TOKYO. Wed AP YOUNG Japanese in white over-alls drove one car after another, around the clock for 24 hours, directly aboard a big ocean going freighter built especially for transporting cars. With 2,800 factory fresh models loaded, the M.S. Laurel would set sailAP - 777 words
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764 1976-12-16 3 NEW YORK, Wednesday NYT THE 50-year-old chairman, president and chief executive officer of the Bendlx Corp., Mr. Michael Blumenthal has not been one to sit back and wait for the good things In life to drop Into his a j. He hasNYT - 764 words
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383 1976-12-16 3 NEW YORK. Wed. NYT NOW that President-elect Jimmy Carter 'has eased union fears of wage ceilings by disavowing a return to mandatory wage and price controls, his most ticklish problems with organised labour are likely to Involve foreign trade and the development of governmentNYT - 383 words
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Page 2 Advertisements
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Advertisement303 1976-12-16 2 JOINT VENTURE OPPORTUNITY A group engaged in the manufacture of industrial chemicals wishes to expand and diversify its operations in the region by means of acquisitions or participation in joint ventures. As an initial step it would like to establish contact with potential partners who are likely to be organisations303 words
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Page 2 Miscellaneous
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Miscellaneous357 1976-12-16 2 TT WEATHER report for 24 hours prior to 7.30 p.m. on Dec 15 at Singapore airport: Maximum temperature 24.3 C Associated humidity 9H Minimum temperature 23.0 C Associated humidity 100 Hours of sunshine 0.00 Rainfall in millimetres 47.7 Total rainfall for the month 78.0 Total rainy days for the month357 words
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Page 3 Advertisements
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Advertisement93 1976-12-16 3 INVESTMENT OPPORTUNITIES Major international Corporation interested in S.E.Asian investment opportunities, acquisition, jointventure, or controlling equity participation. Will consider all proposals with sound base whether small or of substantial size, either as an existing business or new venture. The offering Corporation has high technology and marketing expertise in many areas, particularly93 words
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Advertisement212 1976-12-16 3 1. BANK OF AMERICA 2. CITIBANK 3. CHASE MANHATTAN 4. MANUFACTURERS HANOVER 5. CHEMICAL 6. MORGAN GUARANTY 7. CONTINENTAL ILUNOIS 8. BANKERS TRUST 9. FIRST NATIONAL, CHICAGO 10. SECURITY PACIFIC 11. WELLS FARGO 12. 13. CROCKER NATIONAL 14. UNITED CALIFORNIA 15. IRVING TRUST 16. MELLON 17. FIRST NATIONAL, BOSTON 18.212 words
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COMPANY NEWS
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545 1976-12-16 4 THE Kuala Lumpur Stock Exchange has requested San Holdings to furnish additional Information on the nulti-million-dollar provisions it made against its local and foreign investnents In its accounts for the year ended March 31, 1970. It notes in a letter to the company that545 words
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523 1976-12-16 4 THE strike action at Aokam Tin contributed to the 25.95 per cent fall In pre-tax profit to M 510.71 million for the year ended June 30, 1976. This strike, which lasted from Jan 24 to April 9 this year, caused a loss of 2,928523 words
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1143 1976-12-16 4 BEN shareholders appear to be paying a high price for the rescue of the company from its financial difficulties by Straits Steamship. For of the consideration of $10.78 million, via the Issue of 23.26 million 40-cent shares at a premium of 10 cents,1,143 words
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Article413 1976-12-16 4 c Ex Date Total far Total far p .yment Data payable the veer ptailai year KM.Uafc* 10* Nov. 24 Dec. 16 10*+ 26.67* UXC 20* Dec. 8 Dec. 16 20* 18.3*c Toshiba 12*TE Nov. 18 Dec. 20 12*TK 12* TE Mihhff 5*+ Nov. 22 Dec. 20 5*+ Obu413 words
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Article119 1976-12-16 4 AMCOL Electrical Industries has appointed Messrs. Henry Y.W. Wong, P.K. Sum and Garry A. Prior to the board. Mr. Wong has also been appointed the managing director, replacing Mr. Tan Eng Joo who remains as chairman. Mr. Prior has been appointed the executive finance director of Amcol.119 words
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1413 1976-12-16 4 THREE SISTERS MERGER THE huge plantation merger of Golden Hope, London Asiatic and Patallng Into one massive Malaysian domiciled group, announced last month, looked like moving Inexorably towards another milestone In the Implementation of the New Economic Policy. Now, something of a1,413 words
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LATEST RESULTS
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Article32 1976-12-16 4 Company pre-tax profit M 51.83 million ($43,000 loss) for year ended June 30, 1976. Tax $770,000 ($200,000) leaving after-tax profit $1.06 million ($243,000 loss). Group pre-tax profit $1.91 million (nil).32 words
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COMPANY MEETINGS
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24 1976-12-16 4 THE following company meetings are due: Dec 18, 9 a.m., Registered Office, 13th Floor, UIC Building, Shenton Way, Singapore 1.24 words
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Article20 1976-12-16 4 Dec 18, 12 noon. Conference Room of Ooontlng fc Chew, No. 7 Jalan Raja Abdullah. Kuala Lumpur.20 words
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17 1976-12-16 4 William Jacks Company (Malaya) Bhd.: Dec 18, 12 noon, Registered Office, Jalan 13/14 (Jalan Bersatu), Petallng Jaya.17 words
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20 1976-12-16 4 Dec 23, 10 a.m., Registered Office, 197 A, 4 3/4 m.s. Jalan Scudal, Johor Baru.20 words
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Article16 1976-12-16 4 Dec 23, 12 noon, 10 mile, Federal Highway, Sungel Way, Selangor.16 words
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Article38 1976-12-16 4 Dec 29, 11 a.m., Conference Room, 14th Floor, Bangunan Hong Leong, 117 Jalan Bandar, Kuala Lumpur. Central Securities (Holdings) Bhd.: Dec 29, 9.30 a.m., Registered Office, Penthouse, 10th Floor, Wisma Central, Jalan Ampang, Kuala Lumpur38 words
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Article14 1976-12-16 4 Dec 29, 12 noon, 72-A Jalan Tampol, Johore Bahru, Johore.14 words
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Article13 1976-12-16 4 Dec 30,11 a.m., Registered Office, 16 Jalan Tangsl, Kuala Lum•pur.13 words
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Article1087 1976-12-16 4 On December 14 PRICES were mdstly higher on the Chicago Board Options Exchange on Tuesday. Advances led declines 311 to 143 and volume approximated 83,583 contracts up from 74,332 on Monday. OPTION JAN APL JLY STOCK Alcoa Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel Am1,087 words
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Page 4 Advertisements
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Advertisement496 1976-12-16 4 Business Management in Penguins The Debt Trap: Cheryl Payer The International Monetary Fund is the most powerful supra-national government in the world today. This book is about the efforts of poor nations to gain some control over their own economies and the role of IMF in frustrating these efforts. A496 words
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INTERNATIONAL COMPANY NEWS
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Article120 1976-12-16 5 Reuter BRUSSELS, Wed. New publicly quoted companies in the EEC will have to have a minimum capital of 25,000 European units of account within two years from now under new company law rules agreed by EEC foreign ministers, the EEC Commission said. However, the- commissionReuter - 120 words
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Article106 1976-12-16 5 Reuter NEW YORK, Wed The Chicago Board Options Exchange is actively considering trading the underlying stocks in which its market makers trade options, the president, Mr Joseph Sullivan said. Mr Sullivan told a press gathering that while no institutional decision has been made to go ahead withReuter - 106 words
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Article43 1976-12-16 5 JOHANNESBURG Wed. First results of oil drilling tests being carried out by the rig Sedco K at a borehole off Mossel Bay, South Africa, are negative, a Southern Oil Exploration Corp spokesman said. Tests on the borehole are continuing, he added.43 words
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Article67 1976-12-16 5 HONGKONG, Wed. Realty Development Corp has declared unchanged interim dividends for of seven HK cents and 1.4 cents for Its A and B shares respectively. Both dividends are payable on Jan 7 to shareholders registered on Dec 29. The company, a Wheelock Marden group unit, said it expects to67 words
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Article353 1976-12-16 5 Reuter SYDNEY, Wed. CSR does not presently contemplate making any further share issues, the outgoing chairman, Sir John Dunlop said. His interim report also said revenue from exports of sugar and minerals over the remaining four months of the financial year should now beReuter - 353 words
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Article93 1976-12-16 5 Reuter SANTA ANA, Calif, Wed Allen-Taubman of Detroit has made a new offer for U*****.9 million for Irvine, Mr Howard Privett, attorney for the James Irvine Foundation, Irvine's controlling owner, said after a superior court hearing here. Nevertheless, Mr Privett asked the court to grant theReuter - 93 words
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Article34 1976-12-16 5 HONGKONG, Wed. Hutchison Financial Corp said the supreme court sanctioned the scheme of arrangement for the company to become a whollyowned subsidiary of Hutchison International. The scheme will become effective on Dec 15.34 words
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188 1976-12-16 5 Reuter NEW YORK, Wed. Gulf and Western Industries chairman, Mr. Charles Bluhdorn, told the annual meeting the company plans to Increase its quarterly stock cash dividend by 10 per cent, effective with the April payment. It currently pays a 15 US cent quarterlyReuter - 188 words
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Article114 1976-12-16 5 VEVEY, Wed. Nettle Allmentana said It expects 1976 net earnings to at least equal last year's consolidated 799 million francs, and hopes to pay an unchanged dividend of 65 francs. Consolidated sales in the first 10 months of 1976 rose to 15.4 billion francs from 15.2114 words
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Article78 1976-12-16 5 WASHINGTON, Wed. The Senate Banking Committee said it will hold hearings on New York city's financial situation on Dec 20-21. Witnesses scheduled to testify are treasury secretary William Simon, New York Governor Hugh Carey and New York City Mayor Abraham Beame. Committee chairman William Proxmlre said the78 words
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Article121 1976-12-16 5 [LONDON, Wed. Arthur Guinness Son has enjoyed a 35.2 per cent jump in pretax profit to £39.31 million from £29.08 million for the year ended Sept 30, 1976. The profit Increase came on the back of a 21.9 per cent rise in sales to £413.88 million from121 words
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Article54 1976-12-16 5 NEW YORK, Wed. For the first quarter ended Oct 31, 1976, Seagram has reported an 18.8 per cent rise in net earnings to U5533.35 million from $28.06 million on a sales increase of 5.4 per cent to $571.4 million from $542.2 million. Earnings per share rose to 95 cents54 words
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Article273 1976-12-16 5 TOKYO, Wed. Costs have been cut so drastically at Honda Motor that It has been able to chalk up a threefold Jump In net Income on a sales rise of only 28.9 per cent In the year ended Aug 31, 1976. Net Income rose to 17.59273 words
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Article107 1976-12-16 5 Reuter TOKYO, Wed. Toyota Motor said its vehicle exports In November rose 48 per cent to 110,229 units over the same month of 1975. November exports comprised 77,161 cars and 31,859 trucks, it said. Of the total, 44,667 units went to the US, 8,427 to Saudi Arabia,Reuter - 107 words
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140 1976-12-16 5 Reuter JOHANNESBURG. Wed. Gold Fields of South Africa announced the following interim and final dividends for its gold mining companies, to shareholders registered on Dec 31. Doornfonteln Gold Mining interim five cents (30 cents). Kloof Gold Mining Interim 15 cents (25 cents). West DrlefonteinReuter - 140 words
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140 1976-12-16 5 Reuter AKRON, Ohio, Wed Firestone Tire and Rubber chairman, Mr Richard A Riley, forecast 1977 US tyre Industry sales at 255.6 million units, 10.9 per cent up on expected 1976 sales and above the previous record 251.4 million units sold in 1973. He saidReuter - 140 words
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Article53 1976-12-16 5 LONDON, Wed. Trade Under-Secretary, Mr. Michael Meacher told Parliament in a written reply that the UK export credits guarantee department has guaranteed a line of credit totalling £120 million to the Hongkong Mass Transit Railway Corporation. Contracts so far awarded under this facility have a UK export content of53 words
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Article975 1976-12-16 5 High-yielding debentures NYT NEW YORK, Wed The good news in the corporate bond department is that Brices8 rices have climbed to their ighest levels in three years. The bad news is that some of the most valuable of that "paper" namely, the high-yielding debentures of BellNYT - 975 words
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Article108 1976-12-16 5 NEW YORK. Wed. The demand for credit market funds in the US will reach a new record of US$243 billion In 1977, according to projections in the annual credit market study by Salomon Brothers. The anticipated increase in credit demand of about 12 Gsr cent over the108 words
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226 1976-12-16 5 Reuter WOLFSBURG, Wed Volkswagen must continue Improving its financial position because It was unable to Increase reserves during loss-making years, the chairman, Mr Tonl Schmuecker, told an employees' meeting. He said the group's overall position Is good compared with recent years, but still poor measuredReuter - 226 words
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146 1976-12-16 5 Reuter DETROIT, Tues. General Motors chairman, Mr. Thomas Murphy, forecast industry-wide sales of around 11.25 million new cars In 1977, up almost one million on projected 1976 results, and only 150,000 short of 1973's record 11.4 million. His projections, in line with previous GM forecasts,Reuter - 146 words
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Article137 1976-12-16 5 Reuter WASHINGTON, Wed. The Treasury Department said yields continued to decline at this week's regular sale of three and six months treasury. The average yield on the three month bill fell to 4.360 per cent at Monday's auction from 4.383 per cent the previous week, whileReuter - 137 words
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Article29 1976-12-16 5 ZURICH, Wed. The Scandinavian Airlines System 80 million franc 5Vi per cent 15-year Swiss loan was oversubscribed at Its Issue price of 99.5 per cent, Schwelzerische Bankgesellschaft said.29 words
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Article35 1976-12-16 5 LUXEMBOURG, Wed. European Investment Bank said its forthcoming US$75 million bond issue on the American capital market will be for 20 years at 8% per cent interest with issue price at 99.3 per cent.35 words
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Article316 1976-12-16 5 Reuter NEW YORK, Wed. The present cycle of declining short-term interest rates may be close to bottom, money market analysts said. The Federal Reserve last Friday gave strong signals it wants rates to drop even wwer when it allowed the Federal funds rate to trade atReuter - 316 words
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Article550 1976-12-16 5 NYT NEW YORK, Wed At the beginning of this year, Investors got what they had prayed for most of this decade, a roaring bull market that surpassed most rallies in modern stock market history. In a single month, the market gained 14.4 per cent as measuredNYT - 550 words
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Article91 1976-12-16 5 FRANKFURT. Wed. The German central capital market committee which meets here on Friday is expected to discuss the likely Issue around the end of the year of a one to 1.5 billion mark Federal goverment bond, bond market sources said. A larger than normal part of the91 words
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Page 5 Advertisements
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Advertisement108 1976-12-16 5 Seagram's V.O. Canadian* Wefre something different. Don't expect V.O. to taste like Scotch. It isn't Scotch. V.O. Canadian is a little smoother and lighter than what you usually order. Once you order it, it |ust might become your usual. Another fine product brought to you by: rood oeverage tpriv®t»j ltd.108 words
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Advertisement157 1976-12-16 5 Let Avery Scales safeguard your profits MODEL 1103 CCCTHE SMALL CAPACITY SCALE WITH THE BIG,BIG HEART! A 5\ £3 a 6 27 \5 Capacities 2,5,10 and 20 kg. or 5,10,22 and 40 lbs. Fully self-indicating no loose weights required. Thermostatically controlled dashpot ensures that the pointer comes quickly to rest157 words
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Article1965 1976-12-16 6 SECTION ONE INDUSTRIALS irt% HiCfa Low Company Last Sale +orGr'» div Div e'rr Gr's y'ld Net P/E Vol C000) Day High Low 175* 200 100 237 186 402 204 248 460 137 135* 172 60 185 66 254 149 172 394 39 Ac ma Alcorn Allied Choc1,965 words
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Article1277 1976-12-16 6 BID and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown In brackets In lots of 1000 units unless otherwise specified. AU Time Settlement Contracts are quoted after the 1 word "Sett." Big1,277 words
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Article1260 1976-12-16 6 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets In lots of 1,000 units unless otherwise specified. INDUSTRIALS Ajtnamata (1.84B). AI cam (I) 2.16. Alt*. Maid (0 658). A.M.D.1,260 words
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Article136 1976-12-16 6 SINGAPORE UNIT TRUST (Mutftn' price* for Dm 16) The Commerce 1.71 1.61 The B*vine Fund 0.96 1.00 B'porc Pro(. Fund 0.70 0.64 B'por* Security Fund 1.36 1.33 B'pore Invest fund 1.03 1.06 ABIA UNIT TRUST (Mutagen* price* for Dae 16) Mai Invect Fund 1.6S 1.78 Mai Pro*. Fund136 words
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Article102 1976-12-16 6 B O T 8 1/2% 1981 (100,000) 1102*B 103V45) IBSI 1/2% 1962 (100,000) (MWB 100*S) DBS Convert* 6 1/2% 1991 (100,000) (978 97V»S) E I B 9% 1982 (100,000) (102 *B 103*48) E I B 8 1/4% 1983 (100,000) (99%8 100)48) I B J 8 1/2% 1981 (100,000)102 words
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Article110 1976-12-16 6 5 1/2* 1/12/77 (1,000,000) (101.538 101.838) 5 1/4* 15/4/78 (1,000,000) (101.458 101.555 X 1)101.53 5 1/4* 15/7/78 (1,000,000) ii ol -J£5J Ol 208X1 > 101 20 104 Wei" (I,000,000) (104.808 5 1/4* 15/10/79 (1,000,000) (100.658 100.80S) 6 3/4* 15/5/80 (1,000,000) (102.958 103.058) l/11/8 < I ooo ooo110 words
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Advertisement225 1976-12-16 6 m M. K& r"<3 -V X*v-C~ «#ir sf£i M -v '< a* <~t J>3s» v trp. f~ :r> 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 and225 words
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Article528 1976-12-16 7 AFTER a hesistaat opening, sentiment turned buoyant at the Stoch Exchange of Singapore yeeterday whan good gaina were recorded acroaa the board. Dabblers only began moving into the market after the first hour of trading and sent prices up significantly, particularly among the aecond and third liners.528 words
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Article338 1976-12-16 7 SPECULATORS were back In force on the Kuala Lumpur stock market yesterday and shares made good gains. The better sentiment was apparently prompted by reports that Saudi Arabia would like to see oil prices frozen for another six months. Some brokers are optimistic that the338 words
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Article186 1976-12-16 7 CENTRAL Securities (Holdings) has pointed out to the Kuala Lumpur Stock Exchange that the difference between the unaudited and the audited figures of group attributable profit and company net profit for the year ended May 31, 1976 was due to different accounting treatment. It notes in a186 words
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WALL STREET AND OTHERS OVERSEAS MARKETS
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Article1194 1976-12-16 7 NEW YORK: Stocks surged ahead In late trading on Tuaaday after Oil Minister Zakl Yamani said Saudi Arabia will oppose any increase in oil prices in early 1977. Arriving In Qatar for the oil price fixing conference set for tomorrow, Yamani aald he would like to ase oil1,194 words
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Article274 1976-12-16 7 AMSTERDAM: The market closed lower after a dull session on Tuesday, Hoogovens led dutch Internationals 1.10 guilders lower although Philips was unchanged ex-dividend. Elsewhere transports were mixed but other sectors were mostly lower. Isolated gainers were Amro Bank. OCE, AMFAS and Delhi. State loans were steady following the announcement274 words
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Article299 1976-12-16 7 ZURICH: The market was broadly easier on Tuesday, prompted by pessimistic views on the Swiss economy by the Commission for Economic Research at the Swiss Economics Ministry and Bchwelzerlsche Kredltanstalt, dealers said. Bally shares recovered after recent declines other flnanclals drifted lower Including Juveaa Bearer which fell on continued299 words
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Article278 1976-12-16 7 FRANKFURT: Most shares lost ground. In featureless trading on Tuesdays market sources said. VW eased 2.80 marks on market expectations It will again omit a dividend this year. Major banks and electrical* lost up to 2.50 marks, while major chemicals and steels were up to 1.70 easier. Among less278 words
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Article382 1976-12-16 7 PARIS: The market closed on Tuesday generally higher, with late active trading bringing widespread gains In most sectors, probably from institutional Investor buying, dealers said. The 46-hour strike by unions In the gas and electricity Industries and a slight rise In unadjusted unemployment In November caused Initial weakness in382 words
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Article310 1976-12-16 7 TORONTO: A last hour surge among Industrials carried that Index to a slight advance at the close of active trading on the Toronto market on Tuesday. Western Oils, however, closed 1.45 points lower, ending a five session advance. Canadian lire A and WalkerGooderham A both gained 7/8 at 41310 words
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Article81 1976-12-16 7 MILAN: Stocks moved irregularly higher In moderate trading, on Tuesdays, bourse sources said. Both Olivettis, both Pirellis and Flat gained In major lnduatrlala. Baatogi and Italcementi were marginally weaker, while Moatediaon firmed slightly. The three firms announced amalgamation of some of their engineering activities. Generate Immobiliare gained slightly. Treasury81 words
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Article393 1976-12-16 7 JOHANNESBURG: Golds continued to ease in afternoon trade on Tuesday, following the lower London bullion fixing, but with little selling pressure, dealers said. Financial Mining* were mixed to marginally firmer. De Been was two cents higher at 322. Coppers were occasionally easier while platinums were unchanged after a harder393 words
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Article393 1976-12-16 7 HONGKONG: The market closed firmer on Wednesday in fairly active trading although below the afternoon's highs following some late profit taking. dealers said. Lower prices In London for local stocks contributed to an easier early trend but expectations of only a moderate oil price rise by Opec then boosted393 words
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Article517 1976-12-16 7 TOKYO: The market recovered on Wednesday after Saudi Arabian OH Minister Ahmed Zakl Yamanl's statement his country wants a six-month oil price freeze, dealers said. The Dow Jones average rose 32.M to close at 4,764.03 with volume of 330 million shares, while the New Index closed at 365.98, up517 words
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Article445 1976-12-16 7 SYDNEY: The market closed generally firm In quiet trading on Wednesday, with leading miners and selected Industrial* again in demand on end-year buying by Institutions, dealers said. Peko-wallaend rose IS cents to A 54.30 while Htmertlry, Cr» and North BH gained five cents each. Utah rose five cents to445 words
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Article154 1976-12-16 7 MANILA: The market eaaed In dull trading, on Wednesday with the mining And oil sectors leading the losses, while commercials were inactive, dealers said. Stocks which remained unchanged included Atlas Cm A. Atlas Cob B, Phil overseas, Oriental A and Seafroat while Benguet Con B. BF Goodrich, INCO B.154 words
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Article82 1976-12-16 7 DEC IS BahU Asia Fibre 108 Bangkok Bank 2318 Bangkok Invest 133 -I Bangkok-Metro-poll tan Bank Bata 3618 uneh Berll Jucker 157 -1 Charoong Thai Wtre 152 1 Dumex Dusit Thanl Faber Merlin First Trurt Indo-Thal J And J Ho 158S Jalaprathan Cement 76 -2 Karnatuta Lee Kwang Mln82 words
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Article94 1976-12-16 7 DEC M Fr» 4-/-FORWARD MARKET Acec 325 -2 Arbed 3100 -45 Astur we -28 Braacan 488 -3 Bru-Lamb 1795 unch Canpac 560 10 Cock 560 -28 De Beers 96 4-1 Ebes 2105 unch Eleclrobel eioo -20 Ob-Inno-Bm 1000 -15 Qev u*t -4 Hobok 3120 -50 Petro 4340 -55 Ryl94 words
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Article94 1976-12-16 7 FINANCIAL TIMES INDUSTRIALS Tuesday 324.3 Mond.iy 333.7 Week ago. 319.8 TINS Tuesday 119.65 Monday 118.95 Week ago 116 98 RUBBERS Tuesday 483.04 Monday 493.78 Week ago 494.68 OILS Tuesday 395.03 Monday 400 65 Week ago 402.83 DOW JONES AVERAGE INDUSTRIALS Tuesday 980.63 Monday 974.24 Week ago 960 69 LONDON94 words
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Advertisement366 1976-12-16 7 SHANGRI-LA'S CHRISTMAS We Look Forward To It As Much As You Do Our resolutions were made long before New Year. We've planned to give you the time of your life this festive season. Share Christmas with us. We promise you won't be disappointed. Christmas Eve The night before Christmas at366 words
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COMMODITY REPORTS AND PRICES
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Article729 1976-12-16 8 OPENING quotations in the Singapore rubber market yesterday were marked up on higher London advices and thereafter prices advanced further on buying Interest with sellers reserved. Jan was traded at a high of 198.00 cents. Towards the morning's close, however, prices fell back slightly on profittaking. Forwards, especially729 words
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Article117 1976-12-16 8 DAILY SSR and SMR prices at noon yesterday: Dec Ja n. R.A.S. (Current Mth) (Forward Mth) Buyer* Seller* Buyers Sellers (ceati 1 e (cents per kf) SSR20 (1—ton Pallets) 185 50 187.50N 180.50 188 50N SSR50 (1-ton Pallets) 183 00 185 00N 184 00 186 00N MR.E.L.B.117 words
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Article223 1976-12-16 8 THE Btrails tin price In Penang yesterday was down $4 37* to per picul on aifofficlal offering up 9 tonnes to 262 tonnes. In LONDON yesterday, tin eased by around £28 per tonne for Cash and £27 for Three Months in both contracts. Main depressing influences were hedge223 words
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Article25 1976-12-16 8 Rubber: Dec li Siagspare: Dee. 196.00 eta Jan. 200.25 cU. a 0.28 eta) $1,248.12* (iiewn $4J7*) Official offering: 262 fcNUMe (up 9 to——)25 words
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Article106 1976-12-16 8 LONDON, Wed. Zinc eased by £3.50 per tonne for Cash and £2.25 for Three Months. Early covering against some European physical business gave the market an element of support although It was insufficient to offset subsequent hedge selling and belated profittaking, dealers said. Three Months touched £406 but finished106 words
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Article116 1976-12-16 8 THE following Palm Oil prices were quoted in London on Tuesday. The prices are elf Rotterdam and are quoted In US dollar per long ton unless otherwise Tuesday Pw*. Malaysia 5H ffa bulk Dec Jan Feb/Mch Sumatra 5% Dec Jan Feb Mar Apr Nigerian 5% ffa bulk Sterling116 words
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Article298 1976-12-16 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk *82Vt sellers, old drum *87 Vi sellers, new drum *92S sellers. Copra Mixed (looae) UK/Cont $51 buyers. Pepper Muntok AST A white f.o.b. 100* NLW 1302 s sellers. Sarawak white f.o.b. MS NLW 5285 sellers.298 words
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Article409 1976-12-16 8 THE Singapore gold market opened at US$l36 per ounce. Scattered selling pushed the price down to $135 but there was no follow through and It came off the bottom to close at $135.25. There was a small business in the kilo bar at around 8510,825.00 The London morning fixing409 words
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Article250 1976-12-16 8 LONDON, Wed. Copper wlrebars rose fully £3.50 per tonne for Cash and £2 for Three Months. Values softened on the pre-market under light liquidation prompted by the brief downturn In Sterling with Three Months trading down to £703 per tonne. A subsequent pick up reflected steadier sterling and Isolated250 words
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Article64 1976-12-16 8 LONDON, Wed. Lead finished about £0.25 up for Cash and £0.50 down for Three Months. Three Months touched £290.50 per tonne before profit-taking developed and produced kerb business down to £295. Sales of 5,300 tonnes were mainly carries. On Tuesday afternoon, lead rose £2.00 per tonne all round. Prices64 words
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Article264 1976-12-16 8 LONDON, Wed. The terminal opened £18 higher with Men traded at £2,560 per tonne. But by the end of a barely steady call, best levels had not been maintained and values finished £10 to £12 up from Tuesday's close with 223 lots traded. Mch ended the session only £12264 words
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Article149 1976-12-16 8 CHICAGO. Tues. Wheat futures closed cent a bushel lower to cent higher after fluctuating to both sides of the previous close In a two-cent trading range. Gains m soybean futures encouraged speculative buying but smaller export inspections last week and the 50 million bushel decline in the USDA's latest149 words
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Article134 1976-12-16 8 CHICAGO, Tues. Soybean futures closed at or just below the day's highs, with trains of 10*» to three cents a bushel. January and March finished above US$7.OO. Speculative buying took prices upward at the opening when selling pressure was light and after gains were held through the light-ly-traded session,134 words
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Article62 1976-12-16 8 The Malaysian Minister of Finance has fixed these rates for the period from Dec 16 until further notice: Rubber 92Mi cts a lb. Copra $770.00 a ton. Palm kernel $235.25 a ton. The rates of duties payable are: Rubber 11)4 cts a lb. (Surcharge 5% cents a lb).62 words
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MONEY AND EXCHANGES
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Article555 1976-12-16 8 STERLING steadied yesterday after firming up considerably the day before on reports of market optimism surrounding Britain's soon to be announced austerity package. Dealt at the US$l.O7BO level In Singapore's forex market yesterday morning, it moved up to U811.6830 before dropping down to US$l.OB2O at the market's close. Dealers555 words
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Article149 1976-12-16 8 Asian rates ASIAN currency deposit laterban* nXm u it close on Dec U. US Deller OOm <Spe»> BM 1 days 1 BUM S DUM S BUM mthj mttm U BUM < a/4 4 11/16 4 7/1 1 s vn 7/16 6 M 4 5/6 4 1/16 4 V4 4 7/1149 words
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Article49 1976-12-16 8 RANGE of prices often •0 by C count houMi i on Dec. li. Overnight Ik to M Call depoef It 1% to SM 1 Sew »-Monil) Treasurerl Mil* S n J-Month Bank Mil* ST/1* St/1* Month CD M JH •-Month CD VI* 41/1* Source: National Discount Co49 words
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Article100 1976-12-16 8 Euro rates LONDON, Wed. A wanted tendency was reported In period funds with much of the interest coming from Hone*one and Singapore. One and Two months rates were only about 1/16 off because of the Friday technlcallty Instead of the usual or Short dates opened steady and have since shown100 words
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Article286 1976-12-16 8 LONDON, Wed. Sterling fluctuated in moderate twoway business a little over the US$l.OB level, around 0.00 cents up on Tuesday's London close but below highs reached in the Far East, dealers said. The dealers said sterling appeared to have recovered after Tuesday's steep fall on the very high UK286 words
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Article138 1976-12-16 8 NEW YORK, Tues Sterling closed lower after an unexpectedly sharp rise in the British November trade deficit, substantially due to oil stockpiling, triggered light selling, dealers said. Sterling closed at $1.0780/90 from $1.6890/ 0900 overnight but recovered from the $1.0745/ 00 London close. Forward discounts rose slightly from138 words
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Article104 1976-12-16 8 TOKYO, Wed. The US dollar for overnight delivery closed weaker In active trading at 294.60 yen, compared with 295.50 at the opening and 295.05 at Tuesday's close. Dealers said the U8 unit after opening higher fell on heavy selling pressure apparently prompted by Saudi Arabian oil Minister Sheikh Yamanl's104 words
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Article112 1976-12-16 8 HONO KONO Wed. Sterling eased slightly to around U551.6815/ 6825 In late afternoon trading against a midday level of $1.6825/ 6835 but remained above the New York close of $1.6780/ 6790, dealers said. Meanwnue the US dollar gained further to reach HK54.7630/ 7650 from the midday rate of $4.7610/112 words
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Article42 1976-12-16 8 THE Monetary Authority of Singapore (MAS) invites banks and discount houses to tender for a total of $30 million 91-day Treasury bills to be Issued from Dec 20 to Dec 24. Each Tender must not be less than $250,000.42 words
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Article59 1976-12-16 8 Minimum lending rates (in ACBC 6*. Algemene Bank 6* Bangkok Bank 1% Bank of America 6*. Bank of China .7* Bank of Tokyo fl*. Bank Nefara Indonesia 7U Chartered Bank ev, I Chase Manhattan j DBS 6* First Chicago 6\ Citibank HSBC 7 Indosuez 8*. Malayan Banking Mitsui Bank 6V,59 words
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Article41 1976-12-16 8 ZURICH exchanges quoted on Dec 14. US 2.4636-4643 UK 4.1255-1300 Can 2.4065-4080 'V Germ 102.48-55 i 98.32-40 -we 49.16-19 L. Ig 6.70-1/2-71-1/4 Denm 41.87-90 Norw 46.90-92 Swed 58.79-82 Italy 0.2835-2837 Austria 14.43-45 Port 7.77-79 Spain 3.58-3/4-59-1/4 Arg 0.85-1.15 Japan 0.83-83-1/241 words
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Article47 1976-12-16 8 AUSTRALIA/NZ exchanges quoted on Dec 15. Australia: Sterling 0.6304/0.6232 US dollar 1.0545/1.0497 Ninety day air mall buying rates: Sterling 0.6611 US dollars 1.0795 Ninety day forward buying rates: Sterling 0.6486/1.0574 New Zealand: Sterling 0.5474/0.5444 US dollar 0.9222/0.9122 Ninety day forward rate. Sterling 0.5876/ US dollar 0.939447 words
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Article32 1976-12-16 8 FRANKFURT exchanges opening quotes on Dec 15. US 2.3947/62 Can 2.3560/8 UK 4.025/040 Neth 95.85/96.00 Swltz 97.45/60 Italy 2.762/777 France 47.95/48.10 Norw 45.73/83 Belg com 6.545/560 Belg fin 6.55/56 Japan 0.8125/3532 words
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Article261 1976-12-16 8 LONDON, Wed. Straight bonds firmed slightly In moderate trading, dealers said. In general prices added up to fc point with most activity concentrated in bonds up to 1983 maturity. Dealers cited easier short-term interest rates as the main reason for this trend. Convertibles were quiet with U8 dollar261 words
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Article210 1976-12-16 8 LONDON, Wed. Silver finished with minor losses of 0.1 to 0.5 pence per troy ounce. This market displayed no new feature, according to dealers. They suggested that most operators are marking time awaiting developments at New York and in sterling. Prices fluctuated narrowly with three months finally trading at210 words
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Article203 1976-12-16 8 LONDON, Wed. Terminal sugar opened quietly, £0.20 per tonne down from Tuesday with near May at £128.50 to £0.25 higher. Dealers said the market was hardly changed from kerb levels and lacked fresh feature. The London Dally Raws price was lower by £0.50 per long at £148.50 while Whites203 words
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Article193 1976-12-16 8 BANGKOK, Wed. Indicative prices for rice quoted yesterday were: US dollars per tonne for basis Bangkok White Rice: 100 percent Ist class 290 100 percent 2nd class 275 100 percent 3rd class 270 S percent 258 10 percent 237 15 percent 234 >0 percent 231 28 percent 222 35193 words
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Advertisement442 1976-12-16 8 >u have only one face make the best of it Advice from Business limes. If your corporate face isn 't as good as it could be Business Times can help change it for the better. Few people place their trust in a total stranger. This has to be one of442 words
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TRANSPORT AND COMMUNICATIONS
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Article1239 1976-12-16 9 Those who fly on business are subsidising those who fly on holiday LONDON, Wednesday The Economist THE business and professional traveller in Europe is being diddled by the present system of setting air fares: he is being overcharged on his standard economy fare. Worse,The Economist - 1,239 words
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Article161 1976-12-16 9 AP LONDON, Wed Slow but varied chartering characterised yesterday's London freight market. North American grain fixing remained very slow with little reported besides a 30,000-tonne DecemberJanuary movement from US Oulf to Japan at U5510.25 (FIO). That rate was US7S cents below similar business last week. River plate grainAP - 161 words
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Article34 1976-12-16 9 Reuter HONGKONG, Wed. The Cable and Wireless Company win install a new longrange radar system at Kaltak International Airport for the Civil Aviation Department by next year, the firm announced yesterday. Reuter.Reuter - 34 words
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Article, Illustration510 1976-12-16 9 EXPECTED ARRIVAL TODAY KEPPEL WHARVES Bunga Seroja (1830 hauls 11m East) (after Turkmenlya sails) 33/34 Eastern Mars (after Hlrao) 19 Kobe Mara (after Dal to Mara) 29/30 Genevieve Lykes (1600 after Turkmenlya) (Draft 9.1 m) 35/30 Vishva Ambar (1200 after Palm Sea Horse) (Draft 9.3 m) 15/10 Sun510 words
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Article228 1976-12-16 9 DETROIT, Wednesday Reuter THE chairman of General Motors, the world's biggest car maker, yesterday forecast near-record total sales of 11.25 million new cars In the United States next year. The figure given by Mr Thomas Murphy In a yearend statement here was almost one million upReuter - 228 words
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191 1976-12-16 9 KUALA LUMPUR, Wed Rail service for exporters of container palletised cargo are likely to be expanded soon to cover wider parts of the country. At present the Malayan Railway is only providing a trial service for traders exporting cargo between Ipoh and Port191 words
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Article62 1976-12-16 9 UPI SAN DIEGO, Wed. General Atomic Company announced yesterday It will provide a US$l.7-mlllion nuclear research reactor for the Tun Ismail Atomic Research Centre in Kuala Lumpur. The 1,000 thermal kilowat reactor will be used to produce medical Isotopes and for a programme of research and trainingUPI - 62 words
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Article546 1976-12-16 9 ARRIVALS Service Local Operator Number Time From OA OA472 0200 SYD SIA SQ211 1010 HLP CPA CX710 1030 HLP OIA GA980 1030 HLP OIA GA908 1100 MES PAL PR501 1115 MNL SIA SQ201 1200 HLP SIA SQ240 1205 MES GIA GA895 1215 AMS/FRA/FCO/ BOM/BKK THAI TG413 1245546 words
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Advertisement371 1976-12-16 9 The first new idea in encyclopaedias in over 200years-Britannica 3 Britannica 3 does what no other encyclopaedia has ever done before: It serves the three basic needs of users in three distinct ways. That's what makes it the most useable reference work ever developed. That's why Britannica 3 is the371 words
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Article, Illustration1032 1976-12-16 10 N. KARIM - By N. KARIM MANY companies have adopted a code of conduct, but Bank America has gone one better. It has come up with a code of disclosure. The bank's President, Mr A.W. Clausen maintains that openness as well as truthfulness1,032 words
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Article, Illustration406 1976-12-16 10 PORT LOUIS; Wed MAURITIUS, the Indian Ocean island whose sugar sweetens European coffee, on Dec 20 will hold its first general election since 1968 Independence from Britain. About 500 candidates from a record 31 political parties will be fighting for the votes of Just 462,000406 words
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Article, Illustration1318 1976-12-16 10 N. COLCHESTER - By N. COLCHESTER Financial Times ONE PUZZLING feature of the current West German economic debate is the way In which both optimists and pessimists produce capital investment statistics to support their cases. Thus the Economics Ministry, which claims in its latest report that "recoveryFinancial Times - 1,318 words
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Article, Illustration977 1976-12-16 10 EDWARD COWAN - By EDWARD COWAN NYT THE soldiers wearing steel battle helmets and carrying M-16 rifles and the policemen with sldearms were positioned on alternate sides of the highway. They forced all cars to slow down and some to stop for a weapons search. Three such roadblocks punctuated a recentNYT - 977 words
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Page 10 Advertisements
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Advertisement318 1976-12-16 10 NEW DIRECTIONS The magazine that actually says what you have been thinking all along. New Directions quarterly was bom in late 1973 and has since then quietly set about its task to enhance the intellectual climate in Singapore, to stimulate the spirit of debate and to cast light on major318 words
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340 1976-12-16 11 UPI TOKYO, Wed. Prime Minister Takeo Mlkl will announce his resignation as President of the ruling Liberal Democratic Party (LDP) on Friday to pave the way for selection of a new Premier later this month, his chief spokesman said today. Chief Cabinet SecretaryUPI - 340 words
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Article105 1976-12-16 11 UPI TOKYO, Wed. Economic co-operation that was worked out when Brazilian President Ernesto Gelsel visited Japan last September materialised today when »a group of Japanese banks agreed to extend a US$lOO million (***** million) loan to Brazil. Officials of 24 major Japanese banks and the BrazilianUPI - 105 words
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249 1976-12-16 11 TOKYO, Wed. Japan will declare a 320-km fishing zone around mid-January, a major economic newspaper reported today. •Hie Foreign and Agricul-ture-Forestry Ministries have started full-scale talks on the issue in order that Japan protect Its fishing interests, according to Nlhon Keizal Shim bun.249 words
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Article, Illustration1803 1976-12-16 11 THE OIL PRICE PUZZLE FINANCIAL TIMES LONDON: Prophets of gloom may see an ominous significance In the fact that last month's oil output of members of the Organisation of Petroleum Exporting Countries probably surpassed the record level set in September 1973. PrecedingFINANCIAL TIMES - 1,803 words
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Article258 1976-12-16 11 Sweet success by Imelda Reuter MANILA, Wed. The Philippines Dally Express said today that the President's wife, Mrs. Imelda Marcos, had negotiated a 200,000 tonne sugar-for-oil deal with the People's Republic of China. Reporting from New York, where she Is on a visit, its correspondent gave no details as toReuter - 258 words
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Article115 1976-12-16 11 Reuter LONDON, Wed. The two bodies responsible for worldscale nominal freight rates used for tanker chartering are revising some of the rates from Jan 1. This follows the annual review by the International Tanker Nominal Freight Scale Association here and the Association of Ship Brokers and Agents (Worldscale)Reuter - 115 words
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Article114 1976-12-16 11 A NEW insurance broking company, Chartered Insurance Brokers, has been established In Malaysia by Standard Chartered Bank, Bland Payne and Malaysian majority shareholders. Standard Chartered Bank Is the parent of the Chartered Bank and Bland Payne is an International insurance and re-Insurance group. Based In Kuala Lumpur, the114 words
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192 1976-12-16 11 KUALA LUMPUR, Wed. The Malaysian Government's policy on oil it to have as many oil companies as possible to explore and produce under basically the same production-sharing arrangement with the national oil company Petronas, the Prime Minister's economic adviser Raja Tan Sri Mohar said.192 words
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Article52 1976-12-16 11 AP KUALA LUMPUR, Wed. A three-man Burmese agricultural delegation led 2' U Thlen Han, Deputy lnlster of Agriculture and forests, arrived Kuala Lumpur yesterday. Mr. Thlen Han told reporters the Burmese Prime Minister had sent a goodwill message and a personal letter to his Malaysian counterpartAP - 52 words
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494 1976-12-16 11 AP BANGKOK, Wed. The Soviet Union pledged its continued strong support of Vietnam during the fourth Communist Party Congress In Hanoi today, and the chief Soviet delegate sa'd his country was proud to have stood by Vietnam in its fight against "the strongestAP - 494 words
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Article99 1976-12-16 11 AMERICAN President Lines filed a suit against the Port of Singapore Authority In the High Court yesterday. The firm, through Its lawyers Donaldson and Burklnshaw, Is suing PSA for $33,639 or damages alternatively for alleged breach of duty. The following units were also filed: by Dlethelm99 words
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Article76 1976-12-16 11 UPI PARIS, Wed. The multinational staff of the 24 nation Organisation for Economic Co-operation and Development went on an unlimited strike yesterday to press for higher wages. A spokesman for the strikers said the overwhelming majority of the 2,000 employees backed the movement. The srlkers saidUPI - 76 words
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Page 11 Advertisements
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Advertisement398 1976-12-16 11 APPOINTMENTS V 3 COMPUTER COMPANY SEEKS SENIOR SALES CONSULTANT A Computer company in Singapore is seeking a senior, mature, sales consultant to sell, long range, into the Government and Utilities Sectors He must be a Singaporean with at least seven years experience in selling computers to Senior Government Officers He398 words
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Advertisement465 1976-12-16 11 The East Asiatic Company Limited invites applications for the position of: MANAGER, HEAVY EQUIPMENT DIVISION Applicants should possess the following prerequisites: Should be between the age of 25 and 35 Completed Higher School Certificate Experience in successful overall handling of a technically oriented group of agencies preferably heavy machinery Minimum465 words
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364 1976-12-16 12 KUALA LUMPUR, Wed. The Malay community needs fourteen timet more than the total amount It presently has In savings to achieve the SO per cent bumlputra equity participation in the economy by 1990. The executive secretary of the Urban Development364 words
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Article191 1976-12-16 12 IPOH, Wed. Three hundred factories with a total capital of Ms9B million have been approved in Perak this year, the State Assembly was told today. The State Government Industrial task force approved 201 of the applications and the State Development Cooperation the remainder, said Enclk Ismail191 words
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Article145 1976-12-16 12 Reuter MANILA, Wed. Natural rubber farming is undergoing a revival In the southern Philippines, the Bureau of Agricultural Economics said. The planted area of rubber In Mindanao Increased to 38,970 hectares in 1975 from 33,220 hectares the previous year and production also Jumped to 34,505 tonnesReuter - 145 words
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Article740 1976-12-16 12 LONDON, Wed. The Stock market closed easier after a quiet session ahead of the mini budget, dealers said. At 3 p.m., the Financial Times Index was down 2.4 at 321.9. Government stocks maintained early nins of 1/8 In longs after yesterday's mark down on £6e trade figures, while740 words
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250 1976-12-16 12 AP TOKYO, Wed. Mr. Hartono Rekao Dhiriono, secretary geaeral of tW Association of Seath-cast Asian Nations (Aas—), said today he is visiting Japaa to "institutioaalise dialogue bihms Japaa aad Aseaa." His visit is "oae stop of the idea, agreed doriag the Aseaa summit conferenceAP - 250 words
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Article76 1976-12-16 12 THE Singapore Chinese Chamber of Commerce yesterday formed a nineman sub-committee to prepare for the election of a new management committee In February next year. The two-year tenure of the present 55-member management committee is due to expire in March next year. Mr. Tan Keong Choon,76 words
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Article54 1976-12-16 12 Reuter BRUSSELS, Wed. The one-day Common Market finance ministers meeting planned for Dec 20 has been cancelled. EEC officials said today. The meeting, which was due to discuss the US$l.B billion (554.4 billion) EEC loan to Italy and the Community's medium-term economic programme, would probably take placeReuter - 54 words
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327 1976-12-16 12 THE Export Credit Insurance Corporation of Singapore ECICS attempts to establish a risk-taking relationship with local exporters, and Is Involved in the manner the exporter writes his contracts and exercises control over his buyers. At a lunch given by the National Productivity Association yesterday,327 words
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139 1976-12-16 12 Muller and Phipps win back ChesebroughPonds THE reappointment of Muller and Phipps (FE) as sole agents for Chese-brough-Ponds products In Singapore and Malaysia from January next year Is actually a realignment of business links following an eight-year separation. This was revealed at a i press conference yesterday at Muller and139 words
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250 1976-12-16 12 TOURISM in Singapore, which has experienced Impressive growth since 1965, could run into new problems by 1990. This note of caution was sounded by Dr. Goh Keng Swee last night at the annual dinner of the BlngaBre Society of Tour Agents Id at Shangri-La250 words
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Article, Illustration326 1976-12-16 12 DUBLIN, Wed. One of the central figures in the Slater Walker-Haw Par affair, Donald OgUvy-Wataon (Inset), Is alive and well and living In Ireland. Ogllvy-Watson, who was the Singapore-based managing director of Haw Par Brothers International, moved here quietly about seven months ago and now326 words
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Article177 1976-12-16 12 LONDON, Wed. Haw Par Brothers International Is being sued In the High Court here by a former executive who claims that he was wrongfully dismissed. The executive, Mr. Robert Nicholas Hurst of Orave Hill, Helllngly In Sussex, has Issued a writ claiming $54,100. He177 words
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Article117 1976-12-16 12 Reuter BANGKOK, Wed. Thailand is ready to hold talks with Vietnam to settle problems between the two countries, Foreign Minister Upadlt Pachariyangkun said today. "We are still waiting for an attitude from Vietnam for discussions on problems we have. Including exchange of ambassadors and Vietnamese refugeesReuter - 117 words
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Article105 1976-12-16 12 UPI TAIPEH, Wed. Former Thai Vice Premier Praphas Charusathlara's daughter and two other close relatives left for Bangkok aboard a China Airline flight today, Taipeh International airport sources said. The sources said the former Thai strongman's wife was at the airport to see her .daughter, grand-daughterUPI - 105 words
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135 1976-12-16 12 Chiam Why change in voting pattern is needed THE Independent candidate for Calrnhlll, Mr. Chiam See Tong, yesterday urged Singaporeans to vote for the opposition to end the oneparty system. Speaking at the political rally in Newton Court, Mr. Chiam said the one-party system Is an anomaly and a deviation135 words
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Article167 1976-12-16 12 The fault of the one party system is that the masses could not participate in the running of the country and are told to do things, which he claimed drains the masses of initiative and drive. Being confident of its strong footing in the Cairnhlll constltutency, he said167 words
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438 1976-12-16 12 •The fight today." said Mr. J.B. Jeyaretnam, "is the people's flfht against a minority the few who hold the reins of power In Parliament." The secretary-general of the Workers Party who was speaking at two rallies In Moulmeln and Whampoa last night remarked438 words
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250 1976-12-16 12 Barisan chief: The debts we owe. DR. Lee Slew Choh, chairman of Barisan Soslalls, yesterday said that the public debt In Singapore had gone up 50 times since 1959 and is now $5,000 million. This means, he said, that for a population of about two million, each person owes $2,500,250 words
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Advertisement439 1976-12-16 12 r i Get off the bandwagon! SINGAPORE TRADE AND INDUSTRY puts Its finger on survival techniques for the Singapore businessman in Its November issue don't follow the crowd, diversify, and fast! The Republic's leading monthly economic review examines practical applications of this principle with its in-depth coverage this month of439 words
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