The Business Times, 25 April 1977

Microfilm: NL9063
Total Pages: 10
1 10 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, APRIL 25, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Tindemans to form govt
      58 1 AP BRUSSELS, Sun. King Baudouin today asked Premier Leo Tindemans, whose moderate Social Christian Party gained strength In last week's national elections, to form a new government. Mr. Tindemans, who has led a coalition government for the past three years, Is expected to seek a governing
      AP  -  58 words
    • Article
      Lock icon BA engineers carry on
      53 1 Reuter LONDON, Sun. British Airways engineers at London's Heathrow Airport today voted to continue the three-week-old disruptive action which has crippled the airline's operations and cost £680,000 (552.86 million) In lost revenue a day. A mass meeting of the engineers will be held to discuss the
      Reuter  -  53 words
    • Article
      Lock icon Main dam completed
      40 1 Reuter HONGKONG, Sun. The main dam of the Nul Coc Reservoir In Bac Thai province north of Hanoi, capable of storing 175 million cubic metres of water, has been completed, the Vietnamese News Agency reported today. Reuter.
      Reuter  -  40 words
    • Article
      Lock icon Bhutto gags the press
      52 1 Reuter UPI ISLAMABAD, Sun. Prime Minister Zulflkar All Bhutto imposed over the weekend press censorship on all news concerning the political violence that has wracked Pakistan. The Pakistan Government also rounded up the rest of the opposition leadership In another move to check agitation against Mr.
      Reuter; UPI  -  52 words
    • Article
      Lock icon 'Get out' order
      30 1 UPI ADDIS ABABA, Sun. Ethiopia has ordered the personnel of five US facilities out of the country by next Wednesday, a US Embassy official said today. UPI.
      UPI  -  30 words
    • Article
      Lock icon Genscher assures Mrs B
      58 1 UPI COLOMBO, Sun. Visiting West German Foreign Minister Hans Genscher assured Prime Minister Slrlmavo Bandaranalke that Western industrialised nations will support the Interests of developing countries at the May meeting of Industrial states In London. A Foreign Ministry spokesman said the promise came last week during
      UPI  -  58 words
    • Article
      Lock icon Gromyko flies in
      30 1 Reuter NEW DELHI, Sun. Soviet Foreign Minister Andrei Gromyko arrives here tomorrow for the first top-level Indo-Soviet talks since the Janata Party Government took office last month.
      Reuter  -  30 words
    • Article
      Lock icon Fukuda's energy stand
      67 1 Reuter TAKAOKA (Japan), Sun. Japanese Prime Minister Takeo Fukuda said here today he had no intention of forming a common front with West European countries against President Carter's nuclear energy jx>licy. Mr. FuKuda told a news conference he would take up the problem of nuclear fuel re-pro-cessing
      Reuter  -  67 words
    • Article
      Lock icon Plot to upset polls
      38 1 UPI JAKARTA, Sun. The Indonesian Government said over the weekend it has received reports of plans to upset the May 2 general elections and warned political parties to guard against infiltration of factionalists. UPI.
      UPI  -  38 words
    • Article
      Lock icon Jobless on the march
      33 1 Reuter NAPLES, Sun. —About 30,000 young unemployed from all over Italy marched through Naples on Saturday night calling on the government for urgent legislation to provide new Jobs. Reuter
      Reuter  -  33 words
    • Article
      Lock icon Benn in Norway
      42 1 UPI LONDON, Sun. —Britain's Energy Secretary Anthony Benn flew to Norway today for talks on the North Sea oil rig "blow out which sent thousands of tonnes of crude oil spewing Into the rough sea. UPI see back page
      UPI  -  42 words
    • Article
      Lock icon Jakarta minister in Seoul
      52 1 Reuter SEOUL, Sun. Indonesian Industry Minister Mohamad Yusuf arrived here today for a visit at the Invitation of South Korean CommerceIndustry Minister Chang Yie-Joon. During his three-day stay, Mr. Yusuf will have talks with Mr. Chang on trade and economic subjects and tour Industrial complexes, officials
      Reuter  -  52 words
  • Article
    TOP TEN STOCKS
    114 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 1977. Company Turnover Prices High Low 000 Apr 22 1977
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  • LOCAL STOCK INDICES
    • Article
      SINGAPORE
      81 1 Apr 18 Apr 19 Apr 20 Apr 21 Apr 22 t B T Index: 260.94 259.64 259.46 258.47 256.83 Industrials: 247 50 247.32 246.75 246.30 245.92 a> Finance: 426.55 425.29 424.03 424.03 424.11 Hotels: 158.75 158 08 158.15 158.25 158.11 Properties: 143.53 142.79 142.79 142.83 142.75 Tins: 107 23
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    • Article
      MALAYSIA
      97 1 B T. Index: Apr 18 Apr 19 Apr 20 Apr 21 Apr 22 tt 205 77 205.48 205 45 203.05 202.29 Industrials: 217.93 271.74 271.05 270.33 269.51 (0> Finance: 352 54 351 55 349.38 349.70 349 08 Hotels: 171.99 171.99 171.99 171.99 171.99 Properties: 139.28 138 87 138.87 138.87
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  • Article
    ADB hits a united chord on issues
    1529 1  -  BANK SET TO START A NEW CHAPTER By SOH TIANG KENG MANILA, Sun. The Asian Development Bank 10th annual meeting ended on a happy note last weekend with a broad consensus struck on many crucial issues. Despite differences on certain lending terms, delegates
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  • Article
    Lock icon World has enough oil to last a 100 years: UN
    499 1 AP UNITED NATIONS, Sun. United Nations figures about world petroleum supplies disagree with President Carter's televised remark to Americans last Monday that "we are now running out of gas and oil." The UN statistics show the world probably has enough
    AP  -  499 words
  • Article
    Lock icon 'Trade is rising but don't be content'
    211 1 UPI GENEVA. Sun. Although international trade In 1976 rose 11 per cent in volume and 12 per cent in value, there is no room for complacency this year, Gatt (General Agreement on Tariffs and Trade) said in its annual report released over the
    UPI  -  211 words
  • Article
    PREPARING PRISONERS FOR WORKING LIFE
    325 1 THE Singapore Corporation of Rehabilitative Enterprises (SCORE) recognises that the vast majority of prisoners require work discipline for successful employment and have simulated actual working conditions in prisons, says Mr. Baey Llan Peck, chairman of SCORE, in the latest issue of the Mirror. With commercial
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  • Article
    Peacock-Lee talks
    172 1 AUSTRALIAN Foreign Minister, Mr. Andrew Peacock, will leave this evening for Australia after a threeday informal visit, during which he held talks with Prime Minister Lee Kuan Yew and with heads of Australian diplomatic missions in the region. Mr. Peacock arrived last Saturday from Kuala Lumpur and was
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  • Article
    LONDON TIN MEETS SM HOLDERS
    250 1 LONDON-baaed directors of the London Tin group are to meet institutional shareholders of Southern Malayan Tin Dredging (SM) today to discuss objections to the recently published scheme of arrangement to move SM's domicile to Malaysia. The institutions concerned are unit trust management groups whose funds
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  • Article, Illustration
    PAP fields candidate for Radin Mas poll
    634 1 MR Bernard Chen Tien Lap, former Deputy Secretary, Prime Minister's Office, will stand as the People's Action Party candidate in the forthcoming by-election at Radin Mas. Mr Chen, 35, met the press at the PAP headquarters in Orchard Road yesterday with acting party
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  • Article
    Lock icon Two-tier
    49 1 UPI KUWAIT, Sun. The present two-tier oil price system used by the members of the Organisation of Petroleum Exporting Countries may continue but a new price increases demand on the world's economlc recovery, Iran's delegate to the oil cartel. Jamshid Amouzegar said In an interview published today. UPI
    UPI  -  49 words
  • Page 1 Advertisements
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  • Article
    STORE'S PLEA UNHEEDED
    742 2 THE 10th anniversary meeting of the Asian Development Bank (ADB) ended with a positive response to the appeals from several members for an increase in the allocation of resources to the Asian Development Fund (ADF). The Bank's President, Mr Taorlchl Yoshlda, announced at the end of the
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  • REVIEWS
    • Article, Illustration
      A CULTURAL RESERVOIR?
      892 2  -  SINGAPORE is no (no?) cultural desert. Mobil-oil companies are fast becoming latter day patrons of the arts (as witness Atlantic Richfield's rescue of the liberal British newspaper, The Observer) is spending $80,000 to prove that contrary to popular opinion Singapore may in fact be a cultural reservoir.
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    • Article, Illustration
      Kahn on what the world will be in the next 200 years
      865 2  -  BOOKS By JOHN TAN THE world will enjoy economic growth well Into the next century, contrary to the claims of the doomwaiters, and eventually reach a plateau of affluence and a universally high standard of living, claims eminent
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    • Article, Illustration
      Carlos, top terrorist
      480 3  -  By STEWART DALBY The Carlos Complex: a pattern of violence by Christopher Dobson and Ronald Payne. Hodder and Stoughton, £5.50. 224 pages. Carlos, the Terrorist or Lllllch Ramirez Sanchez to give him his proper name. Is a fascinating subject. While the nature of his trade would seem
      480 words
    • Article, Illustration
      ASIAN CERAMICS THAT TELL OF LOVE AND WAR
      503 3  -  BOOKS By KEVIN RAFFERTY The Ceramics of SouthEast Asia their dating and identification by Roxanna M. Brown; published by Oxford University Press at $65; 82 pages plus black and white and colour plates. ONE OF THE tragedies I fear of the Communist
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    • Article, Illustration
      ONE MAN'S WEEK
      859 3  -  ONE MAN'S WEEK IS ANOTHER MAN'S MONTH By TAY KHENG SOON Mr. T«y is «n architect with Project and Design Management Consultant. PERCEPTION of time varies with people under different circumstances. There Is objective time measured by the clock and there is subjective time, the reckoning of
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    • Article, Illustration
      Lock icon GATT going out of the window?
      890 3  -  PRESIDENT Carter is fending off demands from American labour leaders for trade barriers against Japan. And in Tokyo last week Britain's Trade Secretary, Mr. Edmund Dell, threatened retaliation unless Japan opens up to iitfports. These are just the latest signs of the trade protection
      FT  -  890 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      125 2 European Asian Bank Five Years at a Glance 1972* 1973 1974 1975 1976 in millions of DM 665 896 1,088 796 1,117 1,392 572 720 845 522 240 Total assets 618 300 Business volume 370 132 Credit volume 832 607 199 471 969 Deposits Capital and reserves 38 39 27
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      52 2 I THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on April 24 at Singapore airport. Maximum Temperature 33.6° C Associated Humidity 56 Minimum Temperature 25.4° C Associated Humidity Hours of Sunshine 7.85 Rainfall in Millimetres Nil Total Rainfall for the Month 16.6 Total Rainy Days for the
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      248 2 RADIO TV SINGAPORE 5 3.00 P.M. Opening Announcements followed by Kudumba Malar (Tamil) (r) 0 3.30 Diary Of Events (Tamil) 3.35 General Hospital 4.15 A Place To Live —On The Rocks 4.35 Intermission 6.00 P.M. Opening Announcements followed by December Bride Ruth Neglects 6.30 News In Brief 6.35 Fat Albert
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    • Miscellaneous
      Page 2 Miscellaneous Column 3
      833 2 TWO-IN-ONE CROSSWORD J a sa iiijiii illllll nan i CRYPTIC PUZZLE 8 Colours or leaves ashore on a desert island? (7) 4 Happening as the temperature will as the weather is getting colder (9) 13 Get us to do some gardening outside the home (5) 14 "I'm-a back on leave,"
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  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      90 3 "t 15® a- i»n*j savours of Olde England Lunch or dine in a grill room that savours of Olde England with food just as savoury. The Stables an ideal place to combine business with pleasure. Cosy and private, with English-manner service too. Chef 's Specialities Lobster Clarence—lobster slices on rice
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    • Advertisement
      Page 3 Advertisements Column 2
      227 3 THE FULLY ELECTRONIC CASSETTE RECORDER featuring two motors, three heads, two capstans, and Dolby Noise-Reduction System. DO Bang Olufsen has touch on the electronic control with mastered the art of capturing the operating modes registered and simplicity and the convenience of the indicated on the illuminated panel, cassette-recorder. And well
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  • Article, Illustration
    Lock icon TOWARDS A NEW GLOBAL MONETARY ORDER
    1752 4  -  By SAMUEL BRITTAN FT WHEN THE system of pegged exchange rates broke down in 1971-73, the world entered a new era In which financial diplomacy receded In Importance and international monetary developments were the end product of individual national governments acting separately (or in
    FT; Source: INTERNATIONAL MONETARY FUND  -  1,752 words
  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      216 4 Wang Laboratories Inc., U.S.A. A Growing International Family Sales and service centres in Malaysia and Singapore Wang offers on-the-spot sales and service in Malaysia and Singapore, as in its extensive network of over 150 offices throughout the U.S and 60 foreign countries. The Wang Systems Sales and Support Organisation, one
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  • Page 4 Miscellaneous
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Comalco likely to improve
      370 5 Reuter MELBOURNE, Sun. Comalco's 1977 profit Is likely to show an improvement on the profitability rate In second-half 1976 if an Improved first quarter trend Is sustained, chairman Mr. Don Hlbberd told the annual meeting for calendar 1976. The company lifted aftertax profit to A 526.41
      Reuter  -  370 words
    • Article
      Lock icon Bowater optimistic
      258 5 Reuter LONDON. Sun. Bo water chairman Lord Erroll of Hale said In the annual report he remains optimistic about prospects for continuing growth. Figures for the opening months of 1977 are encouraging. The recent improvement in UK businesses should continue despite the depressed outlook for those concerned with
      Reuter  -  258 words
    • Article
      Lock icon Egypt needs $15 bil for development
      411 5 BACKERS' HELP'SOUGHT Reuter CAIRO, Sun. Egypt expects its international backers to help obtain about US$6 billion (5514.8 billion) needed for Investment In the last three years of its five-year developiment plan, a Government minister said over the weekend. Planning Minister Abdel Razzak Abdel Meguld
      Reuter  -  411 words
    • Article
      Lock icon Escap to discuss plans for rural progress
      142 5 AP BANGKOK, Su" —The UN Economic and i. al Commission for Asia and the Pacific (Escap) is to resume its 33rd session tomorrow with discussion of plans for 1978-1979 that will stress Integrated rural development in the region. The 10-day conference concluded four
      AP  -  142 words
    • Article
      Lock icon SEC urged to probe banks
      84 5 Reuter WASHINGTON, Sun. The US Securities and Exchange Commission (SEC) was urged today to investigate whether US commercial banks had made bribes or Improper payments overseas. Representative Mr. Fernand St. Germain, a Rhode Island Democrat who Is chairman of a House of Representatives Banking Subcommittee,
      Reuter  -  84 words
    • Article
      Lock icon Soviet output on target
      249 5 AP MOSCOW, Sun. The rate of Soviet industrial output was on target for the first quarter of the year, rising by 5.6 per cent in comparison with first quarter of 1976, Izvestia said over the weekend. Labour productivity, reflecting increased automation and worker diligence, rose by
      AP  -  249 words
    • Article
      Lock icon British banks to cut base rates?
      132 5 Reuter LONDON, Sun. British clearing banks are privately conceding that their base rates, currently 9.5 per cent, could be cut by up to one percentage point following last Friday's lending rate reduction, bankers said. A Barclays Bank official said "we shall be looking closely
      Reuter  -  132 words
    • Article
      Lock icon ENFORCING AIR FARES
      94 5 Reuter MONTREAL, Sun. The International Civil Aviation Organisation (ICAO) has recommended that there should be tighter machinery to fix and enforce air fares, to Investigate violations and Impose penalties. An ICAO conference here, attended by officials from 90 countries, recommended over the weekend that member states should
      Reuter  -  94 words
    • Article
      Lock icon Ford to raise prices by 6.5 pc
      148 5 Reuter LONDON, Sun. Ford Motor has announced price Increases averaging 6.5 per cent on a range of its cars. The Increases which are effective from April 23 have resulted from the lrc: eased cost of raw materials, components and services, It said. However,
      Reuter  -  148 words
    • Article
      Lock icon Chrysler strike
      46 5 Reuter DETROIT, Sun. The United Autoworkers Union said 4.000 workers struck Chrysler's sterling stamping plant outside Detroit in a dispute over a new local contract. The plant Is an Important one for Chrysler and a prolonged shutdown could curtail assembly operations, Industry sources said.
      Reuter  -  46 words
    • Article
      Meeting on West Asian business prospects
      148 5 THE first-ever conference on West Asian business opportunities to be held in Singapore, is scheduled to take place in the Republic from June 2 to 3. The conference Is Jointly organised bv two local companies, COMPA International, and Associated Tours. Speakers at the conference
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    • Article
      SEEKING JOBS FOR FILIPINOS
      155 5 MANILA, Sun. The Philippines has sent a mission to survey the labour market in West Asia to gather information for contractors and develop overseas employment opportunities for Filipino workers, Labour Secretary Bias Ople said today. He said the team would gather data on wages and cost
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    • Article
      Lock icon Build-up of cooperation sought
      98 5 AP KUWAIT, Sun. South Korean Minister of Construction Shin HyoungSlk arrived yesterday to seek cooperation with Kuwait In the field of construction. He Is to confer with his Kuwaiti counterpart Mr. Hamad Al-Ayyar and Minister of Electricity and Water Abdullah Al-Ghanem. Officials said the visit was
      AP  -  98 words
    • Article
      Lock icon Credit Suisse hit by questionable loss
      653 5 FT ZURICH, Sun. The Chiasso case once again puts Liechtenstein In a questionable light as a turntable for foreign funds. Though Credit Suisse has not named the company concerned, management president Mr. Heinz Wuffll said categorically shortly after the bank had first announced the
      FT  -  653 words
    • Article
      Lock icon OECD safety net: No pressure on Congress
      405 5 Reuter WASHINGTON, Sun. A senior US Government official said the US has been under no great pressure from its partners in the Organisation for Economic Cooperation and Development (OECD) to get Congressional approval for the OECD's US$25 billion (5562.5 billion) safety net. Mr.
      Reuter  -  405 words
    • Article
      Going on a SIA trip? Use your BankAmericard
      180 5 BANKAMERICARD holders will now be able to use their cards to purchase Singapore Airlines tickets or tours from any SIA office In the world. This new facility follows the conclusion of an agreement recently between SIA and BankAmerlcard, under which SIA becomes
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    • Article
      BoA (KL) to start fast deposit scheme
      113 5 A SCHEME to hasten cheque depositing already In use in one of Bank of America's branches in Singapore is to be introduced to the bank's Kuala Lumpur operations Known as the express cheque deposit scheme, the service provides an alternative for customers depositing
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    • Article
      Lock icon JAPANESE REACTOR
      72 5 Reuter CHARAI (Japan}, Sun. —Japan's first experimental fast breeder reactor today reached crltlcallty, stage of producing more Plutonium than it consumes, the Power Reactor and Nuclear Fuel Development Corporation announced here. Japan became the fifth nation to succeed in attaining this critical stage for a reactor after the
      Reuter  -  72 words
    • Article
      Lock icon Consolidated Plantations
      39 5 Reuter LONDON. Sun. Consolidated Plantations said It will allow its 110 pence per share cash offer for Batu Matang Rubber Plantations (1932) to lapse on April 27 and will return acceptances received to Batu Matang shareholders. Reuter.
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    • Article
      Company news from the week ended Apr 23
      461 5 _> Y RECONSTRUCTION BY SCHEME OF ARRANGEMENT Kamunting Tin Dredging: For each Kamuntlng 15p shares shareholders will receive one share of MS0.50 in Kamuntlng Tin Dredging (M) Bhd. Malayan Tin Dredging: For each Malayan 25p share, shareholders will receive one share of
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  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      3 5 SEE PAGE 4
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      Page 5 Advertisements Column 2
      238 5 JARDINES: 1976 EARNINGS INCREASE. 1976 after tax earnings of S$ 157.73 million compared with S$ 138.79 million in 1975, an increase of 13.6%. Earnings per stock unit rose to 550.769 from 550.732 as adjusted, an increase of 5%. A final dividend of 550.235 per stock unit is recommended, making a
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  • COMPANY NEWS
    • Article
      KLI figures again heavily qualified
      1140 6 FOR the second successive year, the annual accounts of Kuala Lumpur Industries have been riddled with qualifications by its auditors. Hanafiah Raslan and Mohamad The qualifications made by the auditors on the accounts for the year ended Oct 31. 1976 also centred on those items,
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    • Article
      DIVIDENDS ANNOUNCED
      654 6 Current payment Ex Date Date payable Total for the year Total for previous year K.L. Kepong l)fb M. Brfwerin CarUberg Aver Hitam Tin Kivrnifw Rubber Bedford Plantations <;.E l ife Tronoh Tawk Cement ord. Tasek Cement Pref. I'.M.W. Loans. Ber>aya Ki»at l.ingui Sento»a Plywood KenonR Tin (tenting Highland*
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    • LATEST RESULTS
      • Article
        APOLLO ENTERPRISES —
        50 6 APOLLO ENTERPRISES Audited pre-tax profit $1.91 million ($487,355) for the year ended Dec 31. 1976. Depreciation $1.11 million ($1.15 million) and tax $800.000 ($200,000) leaving net profit $1.11 million ($287,355). Maiden first and final dividend five per cent payable June 11 to shareholders registered in its books on May 21.
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    • COMPANY MEETINGS
  • Article
    Share Information for the week
    2516 6 1*77 Hick Low 146 136 133 127 204 204 76 60 212 212 66 57 198* 155 163 155 219 182 392 364 Company Acma Acma A Alcorn Allied Choc Bata Ben Boustead Bousteadco CLC CCM La*t Sale 144 128 204 60 212cd 60 156
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      216 6 Alex Joeey Has long been an observer, recorder and commentator of the Singapore scene, in this hew book, he examines and explains the success of Singapore's tripartite alliance of Government, workers and employers. A substantial part of the book is devoted to the full text of fifteen essential labour laws
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  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      New York
      1182 7 NEW YORK: The stock market finished the week sharply lower on Friday, with prices declining over a broad front In the aftermath of President Carter's longawaited energy policy. Blue chips and glamours again led the decline for the second straight session as traders mulled over the uncertainties connected
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    • Article
      Zurich
      293 7 ZURICH The market edged lower in moderate trading with profit-taking making for an easier trend on Friday, dealers said. Banks closed barely steady. Among little-changed financials bearer eased Ir :riMiranees Winterthur did not react to the favourable earnings statement for 191b. Leading industrials turned irregular with bearer stocks of
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    • Article
      Toronto
      315 7 TORONTO: The market closed lower in light trading on Friday, with the composite index off more than three points Declining issues outpaced advances 216 to 196. The most active industrial. Consumers Distributing, rose 15 cents to CS3 20 on 56,996 shares The company reported higher first-quarter net. BP Canada,
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    • Article
      Tokyo
      476 7 TOKYO: Frices closed lower in mo derate trading with exportoriented sh.ires leading the fall on Saturday, following the continued decline on Wall Street, dealers said. The I>ow Jones average fell 8.30 to close at 5,135.02 with volume 150 million shares The new index closed at 381 59. down 0
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    • Article
      Jo'burg
      394 7 JOHANNESBURG: Golds were firmer toward the close after a steady opening while the remainder of the market traded mixed on Friday, dealers said Financial minings were mixed with a firmer bias with Anglo* two cents harder at 387 and Amcoal 10 rents off at 780 D* B*er» gained 13
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      Amsterdam
      345 7 AMSTERDAM: Shares again firmed over a broad front on Friday and Royal Dutch led gains in Dutch Internationals, dealers said. The stock added a further 4 10 guilders to close at 145.70 fillders after a previous rise of 50 Philip* lost some ground antl Hoogovrn* finished unchanged on balance
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    • Article
      Frankfurt
      311 7 FRANKFURT: Leading shares eased generally by at most two marks In lively trading, whereas the trend In other stocks was basically mixed on Friday, market sources said. The weakening Is basically a technical reaction to the large gains posted earlier this week, they added Utilities were mainly higher, electrlcals
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    • Article
      Paris
      425 7 PARIS The point fall In call money to nine per cent helped the market rise slightly on Friday, dealers said Foods, autos and electrlcals gained most, with Veuve Cliquot, Ferodo, A Ist horn, CSF ana Leroy Somer all higher. Michelin, wnicn reported a higher 1976 net profit, was little
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      Brussels
      185 7 BRUSSELS: Trading saw large majority of gains In all local sectors on Friday, In more active dealing that saw some larger price movements than recently, dealers said. Major local Issues to rise included I'nerg, Sidro, FN. ('•ckerill, Arbed. Wagona-lits. Cornel ra Finoutrenter and Solvav. Akturienne and Clabeco declined against
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      Milan
      152 7 MILAN: Stocks lost ground with offers prevailing throughout the session on Friday, dealers said. The prices, after an Irregular lower opening, closed at the day lows Among few Issues In countertrend were both Pii*lle'i. Bonds steadied In fairly active trading. APR 22 Lire Ante 259 -10 Assoc Gen *****
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    • Article
      Indices
      65 7 FINANCIAL TIMES INDUSTRIALS Friday 422.3 Thursday 418 7 Week ago 416.5 DOW JONES AVERAGE INDUSTRIALS Friday 927.07 Thursday 935 80 Week ago 947 76 LONDON DOLLAR PREMIUM Friday 120'. to 121 Thursday 118'* to 118H H.K. HANG SENG Friday 448. 74 Thursday closed Week ago 436.66 SYDNEY INDUSTRIALS Friday
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  • Article
    CHICAGO BOARD OPTIONS
    1442 7 On April 22 TRADING in options on the Chicago Board Options Exchange on Friday came to 113,117 contracts compared with 120.747 on Thursday. OPTION JLY OCT JAN STOCK Alcoa 50 8 1/8 8 1/4 9 1/8 57 1/2 Alcoa 60 13/18 1 7/8 2 1/2 57 1/2
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  • Article
    Lock icon IBM leads declines
    393 7 NYT THEY'RE killing IBM again, the manager of a New York brokerage office declared last Friday afternoon as the New York stock market, beset by new worries, plunged across a broad front. IBM. the nation's most popular stock and for many years the centrepiece of institutional portfolios,
    NYT  -  393 words
  • Article
    Lock icon German banks to place 975 m marks
    183 7 Reuter FRANKFURT, Sun. Major German issuing banks have agreed to bring to market next month 975 million marks of new mark Eurobond issues and private placements, bond market sources said. The total, decided when the banks met on Thursday to discuss the May
    Reuter  -  183 words
  • Article
    Lock icon Curacao Eurobond
    51 7 Reuter LONDON. Sun. The US$5O million seven year Eurobond for the Bank of Tokyo (Curacao) Holding has been priced at par, lead manager S. G. Warbufg said. The coupon was earlier reduced to 7 5 per cent from the originally indicated per cent. The issue was heavily oversubscribed.
    Reuter  -  51 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      176 7 Confront Singapore's decision makers in Business Times Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who For only $3.50 per single column centimetre
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  • COMMODITY REPORTS AND PRICES
    • Article
      Rubber markets
      355 8 LONDON, Sun. Terminal rubber eased further In late dealings on Friday under light pre-weekend liquidation to close at or Just above the session's lows. Losses from Thursday night ranged from 0.35 pence (near May at 51 pence) to 0.65 pence per kilo. Lots traded totalled 88 of to
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    • Article
      Straits tin
      123 8 THE Straits tin price In Penang on Saturday fell $10.00 to $1,450.00 per plcul on an official offering up 60 tonnes to 240 tonnes. In LONDON on Friday, tin on the day gained £110 for Cash and £100 for Three Months in both contracts. The market was well
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    • Article
      Produce prices
      285 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil Bulk SI 10 sellers, old drum SI 15 sellers, new drum Sl2O sellers Copra Mixed (loose) UK/Cont S7l buyers Pepper Muntok ASTA white f o b. 100% NLW $400 sellers. Sarawak white f ob 96% NLW
      285 words
    • Article
      Palm oil
      117 8 THE following Palm OH prices were quoted In London on Friday The prices are df Rotterdam and are quoted In US dollar per ton unless otherwise stated Friday Pre*. Malaysia 5% (fa bulk Jne/Jly 675 sir 662 sir Sumatra 5H Apl unch 665 pd May unch 670 pd
      117 words
    • Article
      Gold
      538 8 IN the Singapore gold market on Saturday, the kilobar was traded In the range of 5511,870 to 5511,890. The loco London gold was stagnant at U*****.00/ 149.50. Source: Singmas The Singapore Chinese Gold and Silver Merchants Association quoted the retail price of 22k gold at $450 per tael and
      538 words
    • Article
      Copper
      265 8 LONDON, Sun. Copper wirebars on Friday gained £12.50 for Cash and £11.50 for Three Months. The market went further ahead On short-covering and some fresh buying prompted by the advance at New York and reports of further modest US physical demand, dealers said. Three Montsh traded up to £838
      265 words
    • Article
      Silver
      185 8 LONDON, Sun. Silver rose by 3.3 to 2.0 pence per troy ounce on Friday. The gains In US futures Induced further short-covering and fresh buying during fairly routine Ring dealings of 51 lots. Three Months traded up to 290.4 pence In the Ring but ran into profit-taking on the
      185 words
    • Article
      Lead
      41 8 LONDON. Sun. Lead rose by £10.50 per tonne on Friday. The market was steady on lightweight end-week covering which took Three Months up to £390 on the Kerb before late profit-ta-king eased the position to £387. Sales were 1450 tonnes.
      41 words
    • Article
      Zinc
      43 8 LONDON. Sun. Zinc rose by £10 for Cash and £10.50 for Three Months on Friday. Values made further ground encouraged by the trend In copper with Three Months trading up to £392 per tonne. Sales of 3650 tonnes were about half carries.
      43 words
    • Article
      Sugar
      231 8 LONDON, Sun. Futures displayed a steady trend throughout Friday afternoon but any further advance from the morning's rise was limited by profittaking and an opening in New York which was not as high as some market quarters expected. At the close, values were t'5.40 to £4.15 higher and sales
      231 words
    • Article
      Rice
      152 8 BANGKOK, Sun. Bangladesh signed an agreement on Friday to buy 60,000 tonnes parboiled rice 25 per cent on a govern-ment-to-government basis for prompt delivery, trade sources said. The price was not disclosed but according to the Foreign Trade Department here, the deal was worth US$ll.7 million. The sources said
      152 words
    • Article
      Prices fall in quiet, featureless trading
      786 8 COMMODITY prices were generally marked down In quiet and featureless trading at the Singapore produce exchange last week. There was a singular lack of foreign buying Interest. At lower levels, however, there appeared to be some lingering support from some of the local dealers
      786 words
    • Article
      Coffee
      265 8 LONDON, Sun. Futures made a smart recovery during Friday afternoon but best levels were not fully maintained at the close. Closing gains against Thursday night were £164 to £181 per tonne. Volume was 3959 lots Including 29 options and the official tone steady. July closed £164 up at £4020
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    • Article
      Wheat
      108 8 CHICAGO, Sun. Wheat futures closed with losses of three to four cents a bushel on Friday. Speculative support on the Initial strength in soybean futures took prices upward briefly for small gains but support was lost when beans backed from their highs. The smaller than expected USDA wheat stocks
      108 words
    • Article
      Soybean
      242 8 CHICAGO, Sun. Soybean futures finished a nervous session on Friday with prices 14Vi to seven cents a bushel higher In old crop months and new crop values off lVi to two cents. Prices fluctuated nervously and widely through the session after opening strength was lost and nearbys retreated from
      242 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        187 8 FOLLOWING news of a cut in the Japanese bank rate from 6% to SH, last week saw the dollar recovering remarkably from 274.00/20 to as high as 278.20/40. There was some speculative interest in the Japanese unit and trading was extremely volatile. The US unit, however, opened firm last
        187 words
      • Article
        Asian $ rates
        273 8 Asian rates RATES very steady, during last week. Some Interest noted In Three and Six Weeks, was attributed to rollovers. Besides this, market was quiet. Federal Reserve figures released for the week show Ml rising 900 millions and M2 by 97 millions. ASIAN currency average deposits rates for the week
        273 words
      • Article
        Money market
        63 8 THE anticipation of a tight market last week did not materialise. Overnight rate averaged at 2% at the close with the exception on Friday (Government Bond Issue Day), where it closed Terms rates firmed towards the Bond Issue Day. By Friday it came down 4% to close 4%
        63 words
      • Article
        Lock icon Discount market
        342 8 Source: International Discount Co. Ltd. LARGE surpluses prevailed In the Interbank overnight money for the first half of last week with rates moving down to a low of 4% p.a. This easy money spilled Into the Discount Market which was able to obtain funds In the 1* 3%
        Source: International Discount Co. Ltd.  -  342 words
      • Article
        London
        199 8 LONDON, Sun. Sterling closed at the day's low in European currency markets on Friday, after the Bank of England cut its lending rate to its lowest level in nearly four-years. The pound moved down to $1.7184/87 from $1.7192/95 overnight, with most of the fall coming after the central bank
        199 words
      • Article
        Lock icon Zurich
        322 8 Source: Swiss Bank Corpora tion, Zurich. ZURICH, Sun. Last week saw the dollar strengthening against most major currencies. Sterling improved, too, while the Japanese yen suffered a sharp drop. The dollar's gains have been due to a number of encouraging economic news. The real GNP rose by 5.2% (on
        Source: Swiss Bank Corpora tion, Zurich.  -  322 words
      • Article
        Euro $ rates
        148 8 Euro rates LONDON, Sun. Eurodollar deposits closed unchanged on Friday from opening levels after minimal movements during the day, dealers said. The recent lack of general interest continued in customary pre-weekend conditions. Some early trading was noted in One and Two Months reflecting some end month cover requirements, while modest
        148 words
      • Article
        Minimum lending rates (in %)
        66 8 Minimum lending rates (in acbc 6V, 6 3 4 Algemene Bank 6V, Citibank 6*4 Bangkok Bank 7 HSBC 7 Bank of America 8*4 Indosuez 6 J Bank of China 7 Malayan Banking 6*4 Bank of Tokyo 6*4 Mitsui Bank 6*4 Bank Negara OCBC 6 3 Indonesia 7 OUB ft >4
        66 words
      • Article
        New York
        300 8 NEW YORK, Sun. The dollar came on offer across the board in late trading on Friday on the North American West Coast market following the Carter Administration's 1.4 per cent point upward revision of its US inflation forecast, dealers said. It earlier closed marginally weaker in New York
        300 words
      • Article
        Frankfurt
        32 8 FRANKFURT exchanges closing quotes on April 22 US 2.3725/30 Can 2.2610/20 UK 4.078/082 Neth 95.99/96.05 Switz 93.99/94.05 Italy 2.675/680 France 47.77/82 Japan 0.8550/60 Belg com 6.520/525 Belg fin 6.51/52 Norw 44.92/97
        32 words
      • Article
        Short term money
        40 8 FOR the week ended Friday April 22, the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND 1 to B*% GENERAL FUNDS: 3* to 7% Movements of funds totalled $389 million
        40 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      441 8 cr —rfx it rm }l 71//, Sy \T()p 'CON THE GREAT BOOKS OF WESTERN CIVILIZATION These are the books that had to burn. For within the GREAT BOOKS are volumes that hold the ideas and thinking that challenge the fettered mind; the thoughts and theories that have built democracies, withered
      441 words
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  • Article, Illustration
    JACKS NOT THE BOY
    717 9 LONDON, Sun. "I'm all alone in the world. I've got nothing out of fighting." The Samurai s wistful statement in Kuraaawa's film. The Seven Samurai, seemed sadly appropriate as Brian Jacks lost the welterweight final at the Debenhams British Open Judo championships to his protege. Vass
    717 words
  • Article, Illustration
    Lock icon Coppel sizzles as Red Devils win a Wembley berth
    886 9 AP LONDON, Sun. Manchester United beat Leeds 2-1 in the Football Association Cup semifinals yesterday to make the Final at Wembley for the second straight year. But United, beaten 1-0 by Southampton last year, won't know who they'll play until Wednesday
    AP  -  886 words
  • Article
    Hole-in-one feat by Chiam at Warren tourney
    414 9 H.A. CHI AM, handicap 24. caused a stir yesterday when he shot a hole-ln-one during the Warren Golf Club monthly medal competition at Dover Road. He surprised everyone, including himself, when his six iron tee shot bounced on the 15th green before rolling
    414 words
  • Article
    Golden girl's better than first
    650 9 LONDON. Sun. Nadla Comanecl. the Romanian gymnast who personified sporting perfection at the Montreal Olympic Games at the age of 14, last week found a new level of attainment: A position better than first place. While her teammate Teodora Ungureanu retained her women's title at
    650 words
  • Article
    Lock icon Gottfried to meet Borg
    786 9 NM@I«WP AP DENVER, Sun. Secondseeded Brian Gottfried, finding his serve and volley game mid-way through the match, won nine straight games and whipped Jim Delaney 7-5, 6-1 yesterday to advance to the finals of the US$lOO,OOO ($420,000) Grand Prix Tennis Tournament. Gottfried will meet topseeded Bjorn
    AP  -  786 words
  • Article
    Lock icon Garrido wins Madrid Open
    425 9 Reuter MADRID, Sun. Antonio Garrido resisted the challenge of fellow Spaniard Francisco Abreu, the defending champion, to win the Madrid Open golf championship at the Club De Campo here yesterday. He returned one-under-par 71 for a 278 total. Abreu, round in a brave 69, finished second
    Reuter  -  425 words
  • Article
    Lock icon Seattle Slew wins
    180 9 AP NEW YORK, Sun. Seattle Slew, the unbeaten Kentucky Derby favourite, led most of the way yesterday and won the Wood Memorial at Aqueduct. The odds-on favourite took the lead on the clubhouse turn and, at the end of the 1.8 km mark, was 3'/4 lengths in
    AP  -  180 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      145 9 a BRIGHTER FUTURE in ACCOUNTANCY with FOULKS LYNCH Founded over a century ago, Foulks Lynch the specialists in accountancy education have tutored over 150,000 students around the world to success in the various accounting examinations. You too can be one of them. Now FOULKS LYNCH courses for the following examinations
      145 words
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  • Article
    FELS nears $150 mil contracts with Europe
    513 10 FAR East-Levlngston Shipbuilding is currently negotiating for contracts worth SISO million with several European shipowners, and it is hopeful that a number of these will be secured before the end of the month. The contracts are for construction of cargo ships and ro-ro
    513 words
  • Article
    Lock icon Mining rights for Rio Tinto's arm
    132 10 Reuter JAKARTA. Sun. —P.T. Rio Tinto Bethlehem Indonesia will get an exploration right for non-oil minerals, excluding radio-actives and hydrocarbon, covering a vast area of 1.7 million hectares in Central and South Sulawesi (Celebes), official sources said here yesterday. The company, a subsidiary of
    Reuter  -  132 words
  • Article
    Lock icon Hongkong group in $30m joint venture complex
    122 10 Reuter KUALA LUMPUR, Sun. The May Fair group of Hongkong and a group of local businessmen have entered into a joint venture to develop a Ms3o million commercial complex on a one-hectare site in Kuala Lumpur. A spokesman of the May Fair group
    Reuter  -  122 words
  • Article
    Lock icon TRICKY TASK OF HOLDING BACK THE FLOW
    456 10 NYT HOUSTON, Sun. When oilmen perform a workover on a producing oil well, they subject themselves and the environment to one of the most vulnerable and dangerous periods In the life of the well. They have to force oil to do what It
    NYT  -  456 words
  • Article
    DAILY AIRCRAFT MOVEMENTS
    605 10 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKG SAS SK097 0640 CPH/THR/BKK MAS MH682 0810 KCH CPA CX710 1000 HLP SIA SQU 1015 HLP GIA GA980 1030 HLP THAI TG423 1035 BKK GIA GA908 1100 MES PAL PR501 1115 MNL SIA SQ240 1140 MES
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  • Article
    Lock icon North Sea pollution disaster looms
    624 10 OIL WELL SPRINGS A LEAK Reuter STAVANOER (Norway), Sun. A huge oil slick spurting from an out-of-control well drifted towards the Norwegian coast today while officials wondered how to prevent a North Sea pollution disaster. A 60-metre high column of crude oil, mud and highly
    Reuter  -  624 words
  • Article
    Lock icon Asean is central to Marcos visit
    549 10 Rueter MANILA, Sun. President Marcos sets off for Tokyo tomorrow with his family to sound out the Japanese on just how much they are prepared to assist the development of Southeast Asia and how they see the new power adjustments in the area. President
    Rueter  -  549 words
  • Article
    Lock icon COFFEE WON'T COME DOWN TILL LATE NEXT YEAR
    427 10 AP UPI CARTAGENA (Colombia), Sun. —Consumers can expect continued high prices for coffee until at least the late summer of 1978. That's the word from Mr. Arturo Gomez Jaramlllo, head of Colombia's National Coffee Federation. "We cannot expect lower prices until August
    AP; UPI  -  427 words
  • Article
    ASTLEY'S DEAL WITH MANILA BROKER
    180 10 ASTLEY and Pearce (Pte) Ltd, an international firm of money broken has concluded an exclusive trading arrangement with a recently formed money broking company in the Philippines. It says that under the agreement, the worldwide Astley and Pearce group will conduct its business with Philippine
    180 words
  • Article
    Local inquiries on London land sale
    428 10 SINGAPOREANS are being given the opportunity to bid for some of the choicest London commercial properties in one of the biggest land sales In Britain. An advertisement for the sale of the Knightsbridge Estate, one of the British capital's most fashionable shopping areas, in
    428 words
  • Article
    S'poreans keep in step with high fashion
    315 10 THE local market for haute couture goods appears to have made a favourable impression on those whose names really matter in the business of high fashion. A recent newspaper advertisement contained a call from famous French couturier, Andre Courreges, for someone to open
    315 words
  • Article
    Lock icon FASC's stand on hike wins support
    148 10 Reuter MANILA, Sun. The Federation of Asean Shipping Councils (FASC) is convinced that a proposed 13.45 per cent freight hike by the Far East Freight Conference is unacceptable and objectionable. Philippines' Department of Trade said today. A statement issued by the department said FASC
    Reuter  -  148 words
  • Article
    Lock icon Healey's plea to unions
    123 10 Reuter LONDON. Sun. Britain's Chancellor of the Exchequer, Denis Healey, appealed to restive trade unionists today to settle for pay increases of less than 10 per cent so as to avert a disastrous burst of Inflation. A wage explosion now, said Mr. Healey, would send sterling
    Reuter  -  123 words
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      Page 10 Advertisements Column 1
      338 10 Corporate Banking Services in the Far East Chinese Opera mask from the Pei-dee l~)\nasi\ (550-577 A./) This mask was used as a guide for face-painting Wardley Limited carries out merchant banking activities in the Far East. Based in Hong Kong, Wardley provides banking,advisory and financial services to corporations and to
      338 words