The Business Times, 17 January 1977

Total Pages: 10
1 10 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, JANUARY 17, 1977 50 CENTS
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  • NEWS IN BRIEF
    • 59 1 Reuter WARSAW, Sun. Poland's dissident group, under strong pressure to disband, yesterday Issued a national appeal for financial, legal and medical aid. In Communique No. 0 Issued in Warsaw, the Workers Defence Committee (WDC) called for solidarity and support from Poles throughout the country in the fight
      Reuter  -  59 words
    • 61 1 AP MOSCOW, Sun Potentially harmful amounts of cyanide and mercury have been detected in the water supply of two Moscow apartment compounds housing American diplomats and other foreigners, the US embassy said yesterday. The toxic substances presumably come from nearby industrial pollution, an embassy spokesman said, adding
      AP  -  61 words
    • 60 1 Reuter TEL AVTV, Sun US President-elect Mr. Jimmy Carter Is expected to Invite Israeli Prime Minister, Yitzhak Rabin to Washington In March, Israeli newspapers said. The Washington correspondents of most morning newspapers said Mr Carter would probably also invite Egyptian President Anwar Sadat and Saudi Arabian Crown
      Reuter  -  60 words
    • 52 1 UPI BANGKOK, Sun Cambodia wants good relations with Its neighbours and will not Interfere In the Internal affairs of any country, Radio Phnom Penh said today. The radio, monitored here, quoted a Foreign Ministry statement as saying that "some Imperialists and reactionaries" had recently accused Cambodia of causing
      UPI  -  52 words
    • 53 1 The court prevails UPI LONDON, Sun The British Postal Workers Union has agreed to obey a court Injunction and call off Its planned week-long communications boycott of South Africa, but union chief, Tom Jackson said he was "saddened we cannot take part In an action against the repressive regime In
      UPI  -  53 words
    • 46 1 AP WASHINGTON, Sun. Mr. Jimmy Carter's fiveday US$3 million (557.35 million) inauguration begins this week with its planners billing it as "the most massive open house the city has ever seen." About 350,000 people have been invited to participate in tha week's festivities. AP
      AP  -  46 words
    • 42 1 UPI TOKYO, Sun. Mr. Walter J.P. Curley, the present American ambassador to Ireland, Is being considered by President-elect Mr. Jimmy Carter as the next US ambassador to Japan, the Japanese Kyodo news agency said In a dispatch from Washington. UPI
      UPI  -  42 words
    • 27 1 UPI BANGKOK, Sun. Malaysian forces sweeping Into southern Thailand yesterday and today scooped up "about 300 communists, smugglers and bandits." military sources said. UPI
      UPI  -  27 words
    • 37 1 UPI MANILA, Sun. A defeated Presidential candidate, a former newspaper publisher, three Americans and a British subject will stand trial starting Feb 7 for allegedly plotting to assassinate President Marcos, military authorities announced today. UPI
      UPI  -  37 words
    • 42 1 IPOH, Sun. All DAP branches In Perak have been directed to hold their annual meetings by February In order to re-organise themselves and the membership In preparation for a possible general election In 1978, or at any other time.
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    • 31 1 AP LUSAKA, (Zambia), Sun. Zambia will launch a week-long boycott of buying or handling South African food beginning tomorrow, the Zambia Congress of Trade Unions (ZCTU) announced today. AP.
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  • 116 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 the high and low for 1976/77. Company Turnover Price High Low 000 Jan 14 1974/77
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  • LOCAL STOCK INDICES
    • 70 1 Jan 10 Jui 11 Jan 12 Jan 13 Jan 14 ttB.T. Index: 280.11 276.24 272.73 273.44 272.15 'Industrials: 260.29 259.68 258.67 258.76 258.46 Finance: 455.64 453.93 451.50 450.87 450.42 ••Hotels: 158.40 158.40 158.14 158.50 158.30 •Properties: 153.59 153.59 152.50 152.27 151.65 tTlns: 95.95 97.04 97.04 97.04 98.33 t% rubbers:
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    • 83 1 Jan 10 JftBll Jan 12 Jan 13 J m 14 ttB.T. Index: 210.18 207.20 204.53 206.58 205.09 'Industrials: 2M.16 283.06 282.64 283.58 283.18 Finance: 303.73 382.51 388.69 380.58 388.18 ••Hotels: 171.54 171.54 171.54 171.24 171.24 •Properties: 151.00 151.18 150.13 150.32 149.89 tTlns: 06.86 06.88 96.76 86.87 98.60 t» rubbers:
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  • 1325 1  -  WORRYING BUT NOT UNUSUAL JOHN TAN ALTHOUGH faster growing exports have helped to 1 reduce Singapore's chronic 1 trade deficit, the narrower 1 gap has also been achieved at the expense of importing fewer capital goods. A look at the import statistics confirms the worst
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  • 291 1 AP DAR ES SALAAM, Sun. The American coffee boycott Is really a big business ploy to make money on tea and cocoa, Tanzanlan Agriculture Minister, Mr. John Malecela said here last night. He said the boycott by many Americans to protest rocketing coffee
    AP  -  291 words
  • 199 1 A FEW hotels here have raised the price of a cup of coffee sharply. The average price increase Is 20 per cent but one or twolike Ladyhlll and Hotel Malaysia have Jacked up their prices by more than 80 per cent. Even among hotels which
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  • 58 1 KUALA LUMPUR. Sua. Unions affiliated to Cuepacs resolvod today that they will take Industrial action including strike action should the Government tail to implement the revised Ibrahim All report by Jan 31. The roeolution was unanimously ndopted after a three-hour meeting at Wisma Cuepacs here this morning nttended
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  • 257 1 MR. LIM Jit Poh, director of Industrial Training Board warned over the week-end that local shipyards cannot compete against foreign ones If training schemes are abandoned in the current recession. He urged the shipbuilding and shlprepalrlng industry to take the longterm view in order to
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  • 146 1 HONGKONG and Shanghai Banking Corporation chairman G.M. Sayer will retire In September. He will be succeeded by deputy chairman M.G.R. Sandberg Mr. Sayer's retirement after only five years as chairman of the most Eowerful banking lnstiitlon in the British colony came as something of a surprise to
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  • 208 1 Reuter MANILA, Sua. Details of a proposed prefereatial trading arrangement within the Association of Southeast Asian Nations will be discussed in the two-day Asean economic ministers' meeting here next weak, it was announced yesterday. Economic Planning Secretary Gerardo Sicat said the conference, which starts
    Reuter  -  208 words
  • 90 1 MR. C.V. Devan Nair, secre-tary-general of the National Trades Union Congress, yesterday announced that the fleet of Comfort taxis will be steadily increased until every taxi En Singapore will be a Comfort taxi. Speaking at a ceremony to award scholarships to children of Comfort operators, Mr. Nair also
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  • 604 1 Reuter MANILA, Sun. Prime Minister Lee Kuan Yew arrived In Manila today for a five-day unofficial visit and talks with President Marcos expected to centre on increased regional economic co-operation. Mr. Lee and his party, who flew in at 13.05 local time
    Reuter  -  604 words
  • 33 1 Reuter PARIS, Sun President Qnasslngbe Eyadema of Togo was quoted today as saying that white mercenaries were Involved In fighting In Cotonou, capital of the West African state of Benin. Reuter.
    Reuter  -  33 words
  • Page 1 Advertisements
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  • 780 2 THE shipyards of the Western world are In deep trouble. In Hamburg, Clydebank (Scotland) and Stockholm In the north and all down the coast to the yards in the Mediterranean, shipbuilders have lean or empty order books. Some yards are facing closure, while many will have
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  • REVIEWS
    • 964 2  -  FILMS By GUY FLATLEY NYT GOOD films, like good wine, improve with age, said King Vidor, who began his distinguished movie career In 1919 with The Turn In The Road. Soon the 82-year-old director of such films as the Big Parade,
      NYT  -  964 words
    • 877 2 MUSIC AS THE stone deaf cavalryman must declare to the fresh classical must convert, some works In the repertory are lust not for charging at in the fashion of that lamented brigade at Bala Ida va. It could be the end of
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    • 876 3  -  C BOOKS 1 By TERENCE SMITH NYT The Arabs, Israelii and Kissinger. By Edward R. F. Sheenan. 288 pages. T.Y. Cnmell. U888.95. IT HAS become fashionable of late to deride the significance of the interim agreements negotiated by Dr. Henry Kissinger In
      NYT  -  876 words
    • Article, Illustration
      842 3  -  By E.W. GLAZIER Mr. Glazier Is a vi«*. president and Citibank'* area corporate officer for Pi ml Malaysia sad Singapore. IS A bank manager prlmarlSr a manager and seconarily a banker or viceversa? The answer probably depends on which audience the bank manager is addressing at a
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    • Article, Illustration
      1163 3  -  By ANTHONY ROWLEY IT IS customary to think of Japan's giant "zalbatsu," such as Mitsubishi, Mitsui and Sumitomo, as the sole instrument of that country's industrial might: Customary but not altogether correct. For Bony, which as much as any other group characterises Japan's almost total domination of
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  • Page 2 Advertisements
    • 185 2 r r MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE ASIA RESEARCH BULLETIN This unique publication offers businessmen eoch month a comprehensive guide to the latest developments that have taken ploce in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin
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  • Page 2 Miscellaneous
    • 225 2 SINGAPORE 5 P.M. Opening Announcements followed by Kudumba Malar (Tamil) (r) Diary Of Events (Tamil) General Hospital Science Report (r) Intermission Opening Announcements followed by December Bride "Psychiatrist" News In Brief Cool McCool Wild, Wild World Of People News In Malay Sandiwara A Malay Drama Bonanza "Old Friends" with Malay
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    • 488 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS I A talent for nothing? (4) 4 Hope to merit praise, perhaps(6) 8 Animal disruptive of art? (3) 10 Taken off (4) 13 A typist's deportment (8) 14 As a student, is he In a class by himself (7) 15 Test piece (6) 17 Make
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  • Page 3 Advertisements
    • 0 3 |$;`!')-~|'`}$/]%[`'>')@/{<=.)'
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    • 410 3 LAND N Sfl« .00^ 20,6775q. metres of residential commercial land at Kowloon Bay Hong Kong on 8 Marchl977. By order of The Amoy Canning Corporation (Hong Kong) Limited.a superb residential/commercial development site of 222,560 sq. ft. (20,677 sq. metres) will be offered FOR SALE in Hong Kong by public auction,
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  • 1928 4  -  By PROF LEE SOO ANN ECONOMICS can be defined as the study of resource allocation whether It be between products (micro-economics) aggregates (macro-economics) countries (International economics) and so on. The unifying element behind all these areas of resource allocation has conventionally been the market system so much
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  • 1610 4  -  The arrangement to wind up sterling's reserve role is riddled with paradoxes. Anthony Harris analyses the changed scene. Anthony Harris Financial Times A PLACARD on the Al2 pleads simply: "Guru, lease turn the taps off.' 1 his reminder of the remarkable achievements of Mr.
    Financial Times  -  1,610 words
  • 677 4  -  By NICHOLAS LESLIE Financial Times NEARLY ONE In four senior executives In a sample of Britain's major companies have actively considered moving overseas to work in the past year, according to a survey Just published on management attitudes to working abroad. This represents a
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  • Page 4 Advertisements
    • 629 4 SINGAPORE From January 1977 SINGAPORE BUSINESS is on sale. What, another business publication? No, not just another. In fact, we were here first and businessmen here still find they need Singapore Trade and Industry monthly to give them the depth, the essential facts and figures and the "inside dope" on
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  • Page 4 Miscellaneous
    • 179 4 CROSSWORD SOLUTIONS EASY SOLUTION ACROBB.—I, Tall. 4, Assail. 8. Bee. 10, Acts. 13, Intended. 14, Pretend. 15, Senate, 17, Despoiled. 21, SOS. 22, Die. 23, Ate. 26. Fledgling. 27, Cattle. 28, Bloater. 32, Oratorio. 34, Rare. 35, Nut. 36, Stress. 37, Tell. DOWN—I, Trap. 2, Late. 3, Vein. 5, Seemed.
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  • INTERNATIONAL COMPANY NEWS
    • 748 5  -  UK HOLDINGS IN SOUTH AFRICA By RICHARD ROLFE FT LONDON shareholdings in South African industrial shares have been much in the news recently. Early in December Marks and Spencer severed its longstanding connection with Woolworths South Africa (unconnected with the US or UK
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    • 217 5 Reuter LONDON, Sun. EMI managing director, Mr. John Powell, said US orders for brain and body scanners are declining because of increasing concern by public health authorities about the current cost effectiveness of scanner diagnosis. Scanners are at present capable of diagnosing problems
      Reuter  -  217 words
    • 646 5 THE PAUSE in the recovery in late 1976 in the American economy 1s not the forerunner of a new recession. According to an economic report prepared by Bank of America (BOA), the US economy in 1977 is expected to resume the growth path
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    • 394 5 UPI BEIRUT, Sun. A fiveman US technical delegation yesterday ended a week-long visit to assess Lebanon's reconstruction needs by saying they were impressed by "the magnitude of the destruction." "The Government of Lebanon has estimated the war damages at US$3 billion (557.35 billion),"
      UPI  -  394 words
    • 146 5 A SEMINAR on "lOC Uniform Customs and Practice for Documentary Credits" will be held by Overseas Containers Limited (OCL) on Jan 31. 1077. The seminar will be conducted by Mr. Bernard Wheble, a documentary credits expert who will make a tour of the Ffcr East
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    • 82 5 Reuter JAKARTA, Sun. The national elections in May will not cover Indonesia's new province of East Timor, but a Timorese representative will be appointed to the central Parliament, Home Minister Lieutenant General Amir Machmud said. The present situation In the former Portuguese colony, incorporated Into
      Reuter  -  82 words
    • 62 5 UPI LONDON, Sun. Roman Catholic and Anglican bishops will Issue a document, "Authority in the Church," on Thursday discussing the role of bishops and the pope but It does not spell out any scheme of union, an Anglican church official said today. The official said speculation that
      UPI  -  62 words
    • 157 5 Reuter NEW YORK, Sun.. Flushing National Bank attorney, Mr. Arthur Rlchenthal said he will recommend to the state court of appeals a two-week extension until January 31 for New York City to fUe Its plan for the proposed repayment of Its moratorium notes. Mr. Rlchenthal
      Reuter  -  157 words
    • 61 5 HAMBURG, Sun. A spokesman for Pnoenix Gummlwerke said 700 tyre sector workers at two of Its plants have been put on short-time due to unsatisfactory tyre sales. Those Involved are 350 employees out of the 5,500 total work force at Hamburg and a further 350 out of more than
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    • 54 5 TOKYO, Sun. Nippon Express said it received a 10 billion yen order from IranJapan Petrol Co (IJPC) for the transportation and installation of petrochemical plant and equipment for IJPC's Bandar-E Shahpur petrochemical project. Nippon Express said it will transport one million tonnes of plant and equipment from Japan
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    • 192 5 UPI ROME, Soa. Communist leader Enrico Berlinguer hM yesterday Us party will work oat its own plan to Uft Italy out of Its oranomlr crisis since ho said the Government seems unable to do so. Addressing a party cultural meeting. Mr.
      UPI  -  192 words
    • 147 5 Reuter ROME, Sun. The UN Food and Agriculture Organisation (FAO) ended contracts with 426 international experts last year, and will be unable to renew contracts this year because of a shortage of cash, director general Mr. Edouard Saouma said. The experts were mainly helping poor
      Reuter  -  147 words
    • 607 5 FT FRANKFURT, Sun. The Federal Cartel Office started the new year with a decision which clearly in-dicated-that Its approval of the Karstadt/ Neckerman deal should not be viewed as a general acceptance of the Inevitability of rescue mergers. The retroactive prohibition of the
      FT  -  607 words
    • 195 5 Reuter SYDNEY, Sun. Broken Hill Pty (BHP) said Its steel export orders have imB roved notably since the ov 29 Australian dollar devaluation. A company spokesman told Reuters by telephone from Melbourne that domestic orders had also risen sharply, to around 200,000 tonnes In
      Reuter  -  195 words
    • 411 5 THE rebate problem, in liner trades, is not new to Stngapore. But with Far East Freight Conference (FEFC) lines reaching a "gentlemen's agreement" to sort out the problem among themselves last year, hopes for the control, If not the elimination altogether of the practice
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    • 186 5 Reuter CARACAB, Bun. President Carlos Andres Peres of Venezuela has ordered the arrest of an executive of the national airline, Vlasa who Is aliened to have collected a US$5OO,OOO (811.23 million) bribe In the form of an illegal commission on the purchase of a Boeing
      Reuter  -  186 words
    • 64 5 Reuter NEW DEI .HI, Bun. Independent Indian Express newspaper said in a frontpage story today that elections to the 525-member Lok Sabha (Lower House of Parliament) may be held in March or April. Prime Minister Indira Qandhl's Government has twice postponed elections since February last year when
      Reuter  -  64 words
    • 215 5 Reuter NEW DELHI, Sun. Ttwlls yesterday declared an exclusive economic zone extending 320 km into the seas off Its coastline. An official notice said India would have exclusive Jurisdiction In this area to exploit fishery resources, petroleum and natural gas, minerals, chemicals and plants, to
      Reuter  -  215 words
    • 382 5 ADELAIDE, Sun. Whether the shareholders In Poseidon maintain an Interest In the group's various projects would depend on the receiver/manager appointed by the Australian industry Development Corp (AIDC), chairman Mr. Eric Rudd said. He told the annual meeting Poseidon's assets or its corporate
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    • 71 5 WIN BTON 8 ALEM, N.C., Bun.- R.J. Reynolds Industries said 1970 results will surpass 1975 s net earnings of u*****.7 million and sales of $4.8 billion despite substantial adverse effects from currency translations. It said it plans to charge against 1976 fourth quarter net the ftour million
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  • Page 5 Advertisements
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  • COMPANY NEWS
    • 631 6 INTERNATIONAL WOOD PRODUCTS THE recovery staged by the wood veneer and plywood market in 1175/76 appears to have lifted a few of the 11 related companies listed in the Stock Exchange of Singapore from the trough It fell in during the recent recession. Among these
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    • 294 6 Correal Ex Data Total Iter Total far payment Data Payable the year pfoviove ym Batu Ki*u 5% Dec 30 Jan 17 10% 5%a Duff Dev. 2.5% Dec 30 Jan 17 5% 5% K. Kellaa Tin 100S+ Dec 17 Jan 17 100%+ 250% F*N 8*+ Jan 3 Jan 17
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    • COMPANY MEETINGS
    • 70 6 Higher sales for J J Reuter NEW BRUNSWICK, N.J., Sun— Johnson and Johnson said sales In the fourth Juarter of 1976 rose to ***** million from 6542.4 million in the same yearaso Derlod. It said sales for 1976 totalled $2.52 billion compared with last year's $2.22 billion. The figures are
      Reuter  -  70 words
  • 2222 6 it7vn Bck Um c— Last Sale Week +erGfs Mr DK Cn Cfs Y*M Net P/E 2;! We Hick mk Lew SECTION ONE INDUSTRIALS in* 286 100 xrt m 402 304 M 410 1ST 133 172 00 106 00 254 140 172 304 30 Acma Alcorn
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  • Page 6 Advertisements
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  • WALL STREET AND OTHER OVERSEAS MARKETS
    • 951 7 NRW YORK: Nervousness ma •harp Jump In U.B. Money supply generally kept the stock market in reverse gear on Friday although some of the day's most active Issues pointed higher. Analysts said demand for securities also was restrained by new worries about Inflation which arose after the government
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    • 353 7 PARIS: The market was generally mixed on Friday, though gains Just outweighed losses, dealers said. Banks and Investments were irregular, with Cie Banc aire. UCB and Eurafrance declining, while Schneider rose. Foodstuffs were higher, especially Viniprix, which said it is studying a possible merger with two other companies. Automobiles
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    • 374 7 JOHANNESBURG: gold shares moved easier on Friday after the lower London morning fixing and trades In other sectors remained dull, dealers said. Financial minings were narrowly mixed Elsewhere, Oe Beer* moved back to 370 (3C7) after a high at 373. Coppers were occasionally easier and platinums also lost ground.
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    • 276 7 TORONTO: Higher share prices among oils and Industrials buoyed the composite Index on Friday while golds, metals and forest products treated slightly at the close of moderate trading. Alcan fell 5/8 to 24, Baak of Nov* Scotia rose 5/8 to 20-5/8, Harbqute Enterprises advanced 7/8 to 14-3/8, Dome Pat*
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    • 295 7 AMSTERDAM: The market closed firm on Friday after hesitant early trading, dealers said. Dutch Internationals were mostly higher although Unilever and Philip* fell. Ak» rose 0.50 on news it hopes to make a profit this year while Royal Dutch was 0.60 firmer after saying it has solved a problem
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    • 267 7 FRANKFURT: The market was mixed on Friday with a tower bias. Many shares lost opening gains in uncertain trading dealers said. Manaeimann lost 3.70 marks with some dealers linking this with heavy sales of these shares from Britain. Siemens fell 1.70 marks and Deutsche Bank 1.10. Other leading banks
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    • 275 7 ZURICH: The market closed generally very steady on Friday on selective demand bolstered by the rally of NYBE Major banks fluctuated narrowly. Financials rose led by heavily traded BEAG, PtnlU and Oerlikea-Baekrle Registered which reached a record high. Insurances ruled steady. Leading industrials pointed slightly higher with the ClfcaGeigy
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    • 129 7 BRUSSELS: Share prices closed mostly lower on Friday although (alls were small In quiet trading ahead of the weekend, dealers said. UK. US and French stocks rose while German and Dutch were unchanged. Petroflna and Its Canadian unit both rose although US Petroflna was unchanged. ror Ae«c Artwd Aatur
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    • 146 7 MILAN: The market closed easier on end-account technical liquidation on Friday dealers said. Both Pirellis. Flat, Olivetti Ordinary and Aaic led declines in leading Industrials while Baia Viaeoaa was marginally higher against the trend and Olivetti Privileged was unchanged. Insurances, financTals and banks were also lower. Bonds moved within
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    • 61 7 FINANCIAL TIMES INDUSTRIALS Friday 383# Thursday 383.3 Week ago 385.3 DOW JONES AVERAGE INDUSTRIALS Friday 972.19 Thursday 978.15 Week ago 983.13 LONDON DOLLAR PREMIUM Friday 115W to 118H Thursday 115* to 118% H.K. HANG SENG Friday 438.49 Thursday 437.98 Week ago 441.34 SYDNEY INDUSTRIALS Friday 387.82 Thursday 385.88 Week
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  • 1009 7 On January 14 PRICES on the Chicago Board Options Exchange declined as losers outnumbered gainers, 253 to 198. CBOE volume approximated 85,059 contracts, compared with 88,029 contracts on Thursday. Alcoa Alcoa Alcoa Alcoa OPTION JAN APL JLY STOCK 45 101/3 NOL NOL 561/4 50 5 V* T1/4
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  • 467 7 NYT OIL, natural at and drilling Issues continued to more higher last week, while the stock market generally declined. The Dow Jones Industrial average slipped 3.99 points to 972.16. This brought the decline In the average representing basicIndustry stocks to nearly 11 points for
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  • 381 7 Reuter LONDON, Sun. The largest ever single government security to be offered by the Bank of England was announced today, £1.25 billion of treasury 13-3/4 per cent dated 1993. Ollt-edged market analysts immediately took the size of the Issue and Its terms, Including an issue
    Reuter  -  381 words
  • Loans
    • 158 7 Reuter OTTAWA, Sun. The Department of Finance said $850 million In new Government of Canada bonds will be made public on Monday. The issue will consist of three maturities, 7-1/2 per cent bonds due Feb 1, 1980, 7-3/4 per cent bonds due April 1, 1982 and 8-3/4
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    • 126 7 MILAN, Sun. Mediobanca Spa said it will make a one-for-four free share Issue ranking July one 1976, followed by an 80 billion lire, 10-year bond issue partially convertible Into shares. Subscription to the Issue will start on January 19. The bonds will carry interest of 9.75 per cent and
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    • 46 7 LONDON, Sun. Ivory Coast state company Sodesucre has raised US$3O million on the Euromarkets for five years, First Chicago said. The loan, guaranteed by the Ivory Coast was originally intended to be for $25 million but was raised to 30 million due to heavy oversubsclptlon.
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    • 69 7 NEW YORK, Sun. The Kingdom of Norway filed with the securities and exchange commission a registration statement covering a proposed public offering of US$lOO million of notes due Feb 1, 1982, according to underwriters. The International group, headed by Kuhn, Loeb and Co, Goldman, Sachs and Co, Merrill Lynch,
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    • 51 7 LONDON, Sun. The Kumagai Guml US$l5 million guaranteed notes due 1982 have been priced at 993/4 per cent and the coupon set at 7-3/4 per cent Daiwa Europe NV said. The notes will be guaranteed by the Sumitomo Bank. Dalma Europe and Sumitomo Finance International are Joint lead
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    • 44 7 LONDON, Sun. The Swedish firm Esselte plans to offer US$2O million notes due 1994 with an expected 81/2 per cent coupon, Hambros Bank said. Redemption of the notes will be by annual instalments starting 1980 to give an average life of 5.3 years.
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    • 130 7 BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 4, 1971 100) it7tm Hick Low Industrial Group Wwk nxilac 7/1 1V1 Point Chanfe 210.59 145.90 Automotive 196.44 194.24 4.20 490.57 3M.79 Banks, Insurance, Finance and Trustees 428.38 421.69 6.69 164 82 135.80 Chemicals, Rubber Products, Refining and Smelting 141.60 141.23 0.37
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  • Page 7 Advertisements
    • 423 7 THE SYNTOFJCON The Syntoplcon now makes it possible for anyone to "ask" great thinkers such as Plato, Aristotle, Tolstoy, and Freud about love, art, democracy, Justice or almost any topic conceived by the human mind. The Syntoplcon can guide your hand to the proper volume. Your eyes are directed to
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  • 290 8 LONDON, Sun. Terminal rubber was barely maintained during an afternoon of two way preweekend booksquarlng on Friday. The official tone was slightly easier. Price* finished at or Just above the dan lows at 0.06 pence per iDo up from Thursday (near Feb at 53.55 oence bid) to 0.75
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  • 176 8 THE Straits tin price to Penang on Saturday was down ***** to *****.00 per plcul on an official offering up 20 tonnes to 200 tones. In London on Friday, tin generally held the morning's higher levels especially Cash which showed a gain of around £137 per tonne to
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  • 105 8 THE following Palm Oil pricee war arc elf Rottaraanrand an quoted In t quoted In London on Friday The price* U8 dollar per ton unlet* otherwise stated. Wdajr Pw». ON Mr Malay** 9«Ka bulk Mcfl/Api DK MB M Mar J8». Nigerian 5% fta bulk Sterling per long ton
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  • 261 8 CHINESE PRODUCE nOAMS, SINGAPORE NOON CLOSING pucn PB PICUL lIBIUUMT. Coconut OU: Bulk 880 sellers, okl drum 188 sellers, new drum 988 selCcffcrm: Mixed (looee) UK/Cont. 838 buyers Pepper. Muntok AST A white 1.0.b. 100* NLW 8351* sellers. Sarawak white f.o.b. 98* NLW 8335 sellers. Sarawak special black
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  • 383 8 IN the Singapore gold market on Saturday, the kilobar was quoted at a nominal 8810.470. On a loco London baria the quote etayed at UB 8131.00/ 131.10 with Unfitted huslnaas being transacted. The Singapore Chinese Gold and Silver Merchants Aaaoclatlon on Saturday quoted the retail price of fold at
    383 words
  • 258 8 LONDON, sun. Copper wlrebars showed I 0 °J £4.50 per tonne for Cash wlrebars and £5.50 for Three Months on the day on Friday. Cathodes were arouna £4.50 and £4.00 lower respectively. Afternoon prices, however, were generally maintained on morning levels aided by relative steadiness in US futures and
    258 words
  • 46 8 LONDON. Sun. Lead was well maintained after lunch on Friday, but showed tosses of around £1.75 for Cash and £1.50 for Three Months on the day. Trading was tight but dealers said small scale proflttaklng was well taken by fresh buying. Turnover was 350 tonnes.
    46 words
  • 91 8 LONDON. Sun. Silveriest further modest ground to finish 0.8 to 1J pence per troy ounce down on the day on Friday. The market continued to lack incentive and prices softened under a llttfr end week selling, dealers said. Turnover was 37 jots. In NEW YORK on Friday, Comex silver
    91 words
  • 216 8 LONDON, Sun. Futures displayed a steady trend throughout the afternoon on lrriday wlth prices holding around the/hl«h« end of the dear's trading range to cloee£s.o6 to £1.75 up. Sales totalled 4,832 lots. Dealers said sentiment continued to be aided by the greatly Improved interestln the export market recently. In
    216 words
  • 206 8 BANGKOK. Sun. Indicative prices quoted for rice In Bangkok yesterday dollars per tonne fob basis Bangkok. White Rice: 100 per cent Ist class 288 100 per cent 2nd 273 100 per cent 268 5 per cent 280 10 per cent 239 15 per cent 238 20 per cent 234
    206 words
  • 40 8 LONDON, Sun. Zinc held fully steady in a aulet market to finish £0.26 lower for Cash and £1.00 down for three months on Friday. Light offerings ware well absorbed. Carries formed the bulk of the turnover of 3325 tonnes.
    40 words
  • 715 8 COMMODITY dealers In Singapore last wesk ploddsd through another period of sluggish trading while foreign markets pounded violently following fresh uproars of boycotts and recriminations between 1 consumer and producing < nations. i Following the previous i week's ballyhoo in America, Europe and Canada
    715 words
  • 234 8 LONDON, Bun. Coffee futures closed steadier on Friday, £47 to £91 psr tonne up from Thursday's cloee with the more forward positions trading back inside the £2,800 level. The volume was 4647 lots Including 80 options but of this total, may traded 2062 lots in a nigh low range
    234 words
  • 127 8 CHICAGO, Sun. Wheat futures posted losses of 21/2 to 1-3/4 cent a bushel at the end of a light trade on Friday. Prices eased on light speculative selling generated by declines In other pits. While considered more of a discouragement to buyers than an incentive for sellers, indications that
    127 words
  • 129 8 CHICAGO, Sun. Soybean futures closed with losses of seven to 3 1/2 cents a bushel on Friday. After some Initial steadiness a lack of buying Interest brought speculative selling'which kept prices down In fairly light dealings. The lack of movement on the Mississippi and Illinois rivers and the new
    129 words
  • MONEY AND EXCHANGES
    • 200 8 THE US dollar was bolstered by the Bundesbank vice-presi-dent's comments that the mark was overvalued, by President-elect Carter's $15 billion economic stimulation package and by the lowering of bank rates in Europe. It opened the week at $2.4585/2.4805 and was traded up to $2.4640/$2.4850. It advanced later to $2.4880/2.4705
      200 words
    • 234 8 Asian rates FIXED dates opened firm for the week with rates appreciating 3/16 1/4 in the three to six month. The mid-week announcement of better trade Index figures and better unemployment figures help to boost, the rates up. Money supply figures were up with M-l up 2-11 and M--2 4.5
      234 words
    • 349 8 Source: National Discount Company Ltd. THE even money market condition at the beginning of the week pushed up the lnter-bank overnight rate together with tne term deposits rates. This made funding difficult for the houses. In addition the banks holding of higher cash in preparation for the expected
      Source: National Discount Company Ltd.  -  349 words
    • 207 8 LONDON, Sun. The dollar closed at Its highs In Eurpoean currency centres on Friday, with sterling also rising on balance In Europe. Eurodollar deposit Interest rates have risen up to 3/8 point on balance this week, their sharpest gains in many months. This reflects market views that US Interest
      207 words
    • 388 8 Source: Swiss Bank Corp. Zurich. ZURICH, Sun. The dollar has not had such a good week In quite a long time. It posted strong gains against virtually all major currencies. Sterling shot upwards to US$l.73 for a while when the safety net agreement was announced, but came down somewhat
      Source: Swiss Bank Corp. Zurich.  -  388 words
    • 77 8 LABT week saw the Overnight rate easing by 1% per cent towards the weekend from a Monday close of 4% ft to close at 3ft 3 on Friday with the lowest level being dealt at 2ft 2. In the 1, 2 and 3 months, the rates were relatively
      77 words
    • 49 8 Minimum lending rates (in nnm M rm aieafP ClUMAk a»naftoft Sank i IMT*! Awtto f* usac J InOow gk Be. all ol ChMt ..t Bantinc ■ink of Tokyo Mttmi Bank 9ink Kftirt ocac i* tflMMfli oca 1 ChuuiM tent OCB J 1 t f»Wfc UMBC t ■tTTMWWH •k ooa
      49 words
    • 159 8 NEW YORK, Sun, Anticipation of higher US short-term interest rates and optimism over the U8 economy drove the dollar higher against European currencies on Friday, dealers said. The mark fell sharply to 41.74/76 cents from 41.86/88, the Swiss franc eased to 40.13/15 from 40.25/27 and the guilder to
      159 words
    • 155 8 Euro rates LONDON, Sun. Period Eurodollars edged 1/10 lower in afternoon trading, on Friday, eroding part of the advance ranging up to 3/8 in rates over this week, the largest upward movement for some considerable time, dealers said. Shorts were softer. Higher rates reflected market opinion US interest rates generally
      155 words
    • 33 8 FRANKFURT exchange* closing quotes, on Jan 14 US 2 .3825/35 Can 2.3795/56 UK 4.092/100 Neth 95.28/34 Swllz 95.99/90.03 Italy 2.723/728 France 47.97/48.01 Japan 0.8190/8205 Belf com 6.474/480 Belg fin 6.408/413 Norw 45.17/22
      33 words
    • 48 8 FOR the weekend ended Friday Jan 14, the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND: 2ft per cent to 4% per cent. GENERAL FUNDS: 2ft per cent to 4ft per cent. Movements of funds totalled $547 m.
      48 words
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    • 160 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times Va BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) Surface mail Singapore Malaysia. Brunei Overseas Second class airmail (Individually wrapped and mailed) Zone Brunei. Sarawak, Sabah Australasia/Pacific (excluding Hawaii)
      160 words

  • 2020 9  -  DUDLEY DOUST is on the set of The Greatest, the film of the life of Muhammad Ali, in Las Vegas, where Ali recreates an incident from the past, walks into pistol shots fired by the simmering Sonny Lis ton. DUDLEY
    The Sunday Times  -  2,020 words
  • 552 9 GOLF WORLD Cup representative Llm Kian Tiong clinched the CPA Pro-Am golf championship with 12 strokes to spare with a three-round aggregate of 204 at Changi Course yester- was Kian Tlong's best win In the local circuit. His previous best was by eight strokes In
    552 words
  • 271 9 CRICKET Reuter SYDNEY, Sun. Australia faced a huge defeat at the close of play on the third day of the Third and final cricket Test against Pakistan at the Sydney Cricket Ground here today. Medium pacers Imran Khan and Sarfraz Nawaz turned In marathon performances to
    Reuter  -  271 words
  • 143 9 HOLLYWOOD, Sun. Margaret Court, making a new comeback attempt at age 34, stopped Virginia Wade in straight sets yesterday to move Into the finals against Chris Evert In a US$lOO,OOO (1245,000) tennis tournament here. The Australian, mother of two, beat the second-seeded British veteran
    143 words
  • 720 9 SOCCER AP LONDON, Sun. Liverpool's grasp on the leadership or the English soccer League's First Division slipped yesterday, as strong challengers Ipswich moved to within one point of the defending champions. On a day that saw 33 of the 60 scheduled English and Scottish League matches postponed
    AP  -  720 words
  • 678 9 LONDON, Sun. One aspect of the defeats, 6-3 and 7-1, which the Hungarians inflicted on England in 1953 and 1954 could have been summed up by a cartoon after the style of Bateman with a dejected Anglo-Saxon figure slumped in the Nep Stadium, face puce and rosette awry,
    678 words
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    • 476 9 THESE ARE THE BOOKS THAT HITLER BURNED /hiiuuwy SL 5 •I V) '1 -V, 2** sb i linn «#p» =!l Li» s w;"" Ui s a i --a as -j L f li uh: Won 9 THE GREAT BOOKS OF WESTERN CIVILIZATION These are the books that had to burn.
      476 words

  • 381 10 UPI TOKYO, Sun. Three Australian Oovernment ministers led by Foreign Minister Andrew Peacock arrived here today for twoday Japan-Australian ministerial talks which open tomorrow. Mr. Peacock, accompanied by Primary Industry Minister lan Sinclair and Transport Minister Peter Nixon, will Join Treasurer
    UPI  -  381 words
  • 210 10 AP TEHERAN, Sun. The Iranian Cabinet agreed yesterday to a US$5OO million (551.23 billion) loan from American and European banks to meet a budget deficit caused by falling oil revenues. The deficit, disclosed the week before, Is the result of declining demand following a 10
    AP  -  210 words
  • 117 10 UPI TOKYO, Sun. A major Japanese rubber company said yesterday it is negotiating to build a US$2 million (554.9 million) sports shoe factory in Vietnam, with the Geneva-based World Council of Churches (WCC) paying most of the cost. A spokesman for Ok
    UPI  -  117 words
  • 252 10 Reuter JAKARTA. Sun. President Suharto baa assured foreign oil companies operating in Indonesia that his government will always inotut their Inlsnsls here, a government spokesman said today. He said the assurance was even at a rare meeting tween Mr. Suharto and representatives of
    Reuter  -  252 words
  • 719 10 ARRIVALS Operator Service Number Local Time From Oi MAS MH601 MAS MH682 SIA SQ107 MAS MH607 MAS MH621 MAS MH871 JAL JL712 SIA SQ211 OIA QA980 CPA CX710 SIA SQ111 THAI TQ423 MAS MH605 OIA OA908 PAL PR501 SAS SK097 KLM KL811 RBA BI325 SIA SQ201 SIA
    719 words
  • 484 10 IF WAGE SPIRAL CAN BE AVERTED UPI LONDON, Sun. North Sea oil prospects should halt the slide of sterling In 1977 provided a wage explosion can be avoided, an Oxford University economist said. Manufactured exports, though helped by the low value of the pound,
    UPI  -  484 words
  • 143 10 Reuter CAIRO, Sun. Arab oil countries have agreed to continue financial backing to the Arab front-line states opposed to Israel Egypt, Syria and Jordan and the Palestine Liberation Organisation (PLO). Agreement was reached yesterday among the foreign ministers of Saudi Arabia, Kuwait, the United Arab
    Reuter  -  143 words
  • 35 10 AP KUALA LUMPUR, Sun The government expects to get an annual revenue of over US$24O million (SssBB million) from its 45 per cent tax on oil, Petronas chairman Abdul Kadlr Shamsuddin said. AP.
    AP  -  35 words
  • 494 10 Reuter UNITED NATIONS, Sun. Former West German Chancellor Willy Brandt may be able to announce within 10 days the composition of an International brains trust to resolve the Impasse between rich and poor countries, informed sources said. World Bank president Robert McNamara launched
    Reuter  -  494 words
  • 208 10 AP TOKYO, Sun. Japan Is expected to expand shortly its territorial waters from Its present 4.8 to 20 km, the Malnlchl dally news reported today. The dally, quoting unidentified government sources, said discussions among cabinet-level officials have agreed to submit a bill to the Diet
    AP  -  208 words
  • 132 10 ORIK, Sun. Malaysia's Perak State Chief Minister Tan Sri Ohazall Jawl yesterday opened a centralised logging camp near here a new system of timber extraction aimed at preventing communist infiltration among lumber workers. The camp, protected by barbed wire fences with watch-towers and guarded by special
    132 words
  • 118 10 KUALA LUMPUR, Sun. Prices of fresh oranges, tangerines and mandarins remained high although Import duty on them has been halved from yesterday. The import duty, reduced from M 51.32 akgto M cents, will be effective until Feb 28. Mandarin oranges now cost $4 a kg and
    118 words
  • 60 10 Reuter LONDON, Sun. The Sunday Times said that Israeli Intelligence had warned France, Britain and West Germany to expect a spectacular guerilla reprisal for last year's Entebbe raid. The report from Antony Erry in Paris said that the tip-off suggested the reprisal would be staged before Feb
    Reuter  -  60 words
  • 424 10 Reuter WASHINGTON, Sun. Just three days after Mr. Jimmy Carter takes over the White House, his VicePresident, Walter Mondale will set off for a series of talks with European and Japanese leaders. The main theme of Mr. Mondale's mission, beginning on Jan 23, Is expected
    Reuter  -  424 words
  • 178 10 KEPPEL Shipyard's first domestic corporate bond of $35 million 8% per cent bonds 1084 was completed at a closing ceremony held over the weekend. This issue was only oversubscribed by $5 million. This was not unexpected, coming as the Keppel bond did so soon
    178 words
  • 138 10 UPI HONGKONG, Sun. The Chinese army has thrown Its support behind the campaign to clear the name of purged Vice Premier Teng Hslao-plng. Military support for Teng came In an article by the cadre school of the army's railway corps. Party leaders, such as Teng, "who
    UPI  -  138 words
  • 229 10 KUALA LUMPUR, Bun. The Associated Malay Chambers of Commerce (AMCC) today Invited Japanese Industrialists to set up joint ventures here to develop the local petroleum Industry The vice president of the AMCC, Raja Khalid bin Raja Harun, extended the Invitation when briefing the delegation from
    229 words
  • 298 10 KUALA LUMPUR, Sun. Work will begin soon on a cement factory in Go peng and a grinding plant near Lumut. The total cost is estimated at $154 million. A feasibility study on this project completed by the Professional Management Services of Kuala Lumpur. According to
    298 words
  • 110 10 UPI TOKYO. Sua. VlKau'i legislature yesterday adopted a budget and wrniir plaa calling tor 18 per cent growth in the oountry's economy this year, radio Hanoi said ia a broadcast hoard hi Tekyo. The plaa eavieioas a 55 per eeat increase ia Vietnam's exports, radio Hanoi said.
    UPI  -  110 words
  • 305 10 SINGAPORE'S textile and garment makers, who do not expect to enjoy the same export conditions of last year, can however take comfort In the fact that the market at home has a potential as yet not completely tapped The industry which produced $1.5
    305 words
  • 139 10 MOSCOW, Sun. Test flights of the TUI44 supersonic passenger plane have been completed and everything is being done to begin regular passenger service "as soon as possible," the Jet's test pilot said today. Interviewed In the newsSaper, Lanlnfkmye namye, Mr. Eduard Yelyan said, "services for
    139 words
  • 84 10 A NEW Malaysian Insurance company, United Continental Insurance, with capability to service Malaysia's offshore exploration activities, officially opens Its doors for business today. UCI, a Joint-venture between Malayan United Industries and Firemen's Insurance of Newark, New Jersey, will be able to tap the resources of the
    84 words
  • 88 10 IPOH. Sun. Failure of railway operations in other countries will not discourage the Malayan Railway from expanding Its services, Its general manager Da to Ishak Tadin said today. "If other railways In the world are running at a loss It does not mean that the Malayan
    88 words
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