The Business Times, 18 July 1977
1977-07-18
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The Business Times
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Title Section9 1977-07-18 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, JULY 18, 1977 50CENTS9 words
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NEWS IN BRIEF
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Article58 1977-07-18 1 KUALA LUMPUR, Sun. Malaysia will seek the support of the other Asean nations In a cooperative effort to tackle the problem of drug abuse. This will be one of the main topics for discussion at the two-day Asean welfare ministers meeting which begins In Jakarta tomorrow, Welfare58 words
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Article73 1977-07-18 1 AP SUVA, (FIJI), Sun. A Fiji dock strike will end tomorrow morning when dockers will resume work in response to an arbitrator's appeal to do so in the national interest, leader of the FIJI Waterside Workers and Seamen's Union, Taniela Veitata, said today when the arbitrationAP - 73 words
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Article56 1977-07-18 1 UPI KUWAIT, Sun. A number of Arab and Latin American states have agreed to establish a Joint bank, government sources said. The Arab countries will provide 60 per cent of the bank's US$lOO million (***** million) capital. The rest of the money will be provided by the LatinUPI - 56 words
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Article29 1977-07-18 1 BETONG, Sun. Government troops have repulsed a group of about 30 communist terrorists attempting to infiltrate into Perak after being dislodged from their Jungle hideouts In Betong.29 words
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Article68 1977-07-18 1 AFP NEW DELHI, Sun. Japanese Foreign Minister lichiro Hatoyama will have extensive discussions with Indian government leaders during his threeday visit to New Delhi starting next Tuesday. Economic and trade relations between the two countries have spread over a number of years, although the volume of India's tradeAFP - 68 words
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Article51 1977-07-18 1 Reuter LONDON, Sun. The Commonwealth has established a 10-member technical working group to study the setting-up of an international common fund for stabilising raw materials prices. The Commonwealth Secretariat said the group will be headed by Lord Campbell of Eskan, chairman of the Commonwealth Sugar Exporters' Association.Reuter - 51 words
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Article95 1977-07-18 1 AP JOHANNESBURG, Sun. -The South African Chamber of Mines said over the weekend it will consider sending its deep-mine rescue drill to Villa Diana In Colombia where 40 miners are missing after an explosion in a coal mine. The blast In the Colombian Andes happened onAP - 95 words
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Article75 1977-07-18 1 Reuter LONDON, Sun. The Confederation of British Industry said "wages claims which increase earnings by more than 10 per cent over the next 12 months will lead to much higher domestic prices and risk pricing even more British goods out of export markets. 'We only need toReuter - 75 words
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Article63 1977-07-18 1 Reuter BONN, Sun. West German Finance Minister Hans Apel promised to take up the question of reliefs for income tax payers in the current legislative period up to 1980 but said their Implementation would not be easy. Interviewed on television after the passing of the 1977 budgetReuter - 63 words
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Article117 1977-07-18 1 THE following list of stock* gives the 10 most traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units, dosing prices on Friday and the high and low for 1577. Company TurMri sr Price* HIGH Low July 15 1$77117 words
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LOCAL STOCK INDICES
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Article77 1977-07-18 1 July II July 12 July 13 July 14 July IS tt B.T. Index: 339.95 340.01 345.99 370.69 370.69 Indus trials: 280 07 260 35 260.73 262.99 263.69 Finance: 429.56 429.94 430.89 432.32 432.13 4 Hotels: 185.00 188.32 166.97 167.29 166.71 Properties: 187.19 168.58 171.46 173.01 173.32 t Tins: 108.4277 words
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Article78 1977-07-18 1 July 11 July 12 JviylS July 14 July IS ft B.T. Index. 338.90 343.12 353.36 305.38 307.25 Industrials: 289.02 289.42 289.23 289.75 291.00 Finance: 377.58 379.77 282.17 384.77* 385.00 Hotels: 172.90 173.28 174.50 174.11 174.11 Properties: 159.15 100.56 101.98 101.57 102.48 t .Tins: 114.38 114.07 114.83 114.90 114.81 t78 words
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Article823 1977-07-18 1 JOHN TAN - TV INDUSTRY MAY BE HURT By JOHN TAN SINGAPORE has the upper hand on balance of trade with Australia should the present trade dispute escalate, but the television and radio manufacturing Industry could be hurt If it Is barred from the Australian market.823 words
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171 1977-07-18 1 A SUBCOMMITTEE of the Association of Accredited Advertising Agents (4As) has been formed to gather information on media expenditure in Singapore. Called the media expenditure committee, it will meet in a fortnight's time to draw ut* guidelines as to what sort of questions are171 words
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628 1977-07-18 1 THE recent opening in Singapore of a wholly owned subsidiary by Japan's largest and oldest general insurers has tttgwcered icus among some local companies that it may successfully compete with them for local business which has to date been almost entirely theirs. The Toklo Marine and628 words
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437 1977-07-18 1 SINGAPORE'S newest steel foundry, Singapore Steel Pte Ltd, has Just received its pioneer status and is expected to begin production within six weeks, according to a Promet spokesman. This foundry which is one of the largest in Singapore its paid up capital437 words
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Article184 1977-07-18 1 Reuter BEIRUT, Sun. Arab diplomatic sources say that the member states of the Organisation of Petroleum Exporting Countries (Opec), with this year's price split behind them, are likely to line up their 1978 Urn® P UCy weU ahemd of CM I ministers are due to meet inReuter - 184 words
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Article84 1977-07-18 1 CANBERRA, Sun. Prime Minister Malcolm Fraser today announced the appointment of a special Trade minister for the European Economic Community (EEC). The new portfolio will be filled by Mr John Howard, who was previously the Minister for Business and Consumer Affairs. Mr Pmser said the84 words
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345 1977-07-18 1 I EXPATRIATES are advised today that if they wish to beat the steady rise in their cost of living, they must learn to adapt to local conditions and to buy more Singapore-made goods rather than more expensive imports. In the latest edition of345 words
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662 1977-07-18 1 THE Japanese petrochemical Industry Is losing out to Its US, European, Taiwanese and South Korean competitors in South-east Asia, its largest export market. According to the latest Sumitomo Bank Review, an instance of this can be seen in her sales of synthetic662 words
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Page 1 Advertisements
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Advertisement63 1977-07-18 1 HsF. Wiyfbong MAF A lending hand when Wayfoong Mortgage yuu neea and Finance (Singapore) Limited ll IllOSt Shaw House. Ground Floor. 354 Orchard Road. Singapore 9. Td *****7. Leisure/TV ft Radio Leisure/ Crouwords Feature International Co Newt/ Overteat Newt Local Co New*/ Share P2 Information PI m Overteat Markets P763 words
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Advertisement97 1977-07-18 1 >V 2/ 4' t* t Chase mafesyour tra\el easier... Chase can supply you with travelers' checks, change Singapore money into any foreign currency you need, and transfer funds to whichever country you require. Chase has a global network of more than 210 branches in over 100 countries makes banking easier97 words
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Advertisement147 1977-07-18 1 We work hard to make your money work for you American Express International Banking Corporation Sh<og K»an Moose Shemoo Way Singapore 1 Tel 220 3311 Telex «S ***** Cable AMEXBANK JAL FLIGHT 712: THE TOKYO EXPRESS f M iV \W*J3 NEW YORK VANCOUVER 'VSAN 1 FRANCISCO kLOS 1 ANGELES! I147 words
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Article621 1977-07-18 2 THE coming meeting of Asean heads of government In Kuala Lumpur next month will be the most Important so far for the regional grouping. Vet Its importance lies mainly in what will happen after the meeting has closed. After the formal meeting the Asean leaders will meet the621 words
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REVIEWS
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Article, Illustration849 1977-07-18 2 DONAL HENEHAN - By DONAL HENEHAN NYT IT IS 185 years since Mozart died at age 35 of a still unknown cause and was dumped hurriedly Into a common grave along with 16 others (14 beggars and two suicides). Although he was the liveliest and friendliestNYT - 849 words
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Article, Illustration525 1977-07-18 2 ROBERT MUSEL - By ROBERT MUSEL UPI SIR Michael Tippett. a youthful 72, is generally regarded as Britain's greatest living composer, and critics recognise that his music, while never easy, repays in Ume those who hear and rehear it. The other night his fourth and perhaps last opera, "TheUPI - 525 words
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506 1977-07-18 2 CLIVE BARNES - By CLIVE BARNES NYT THE cost to ballet tickets In Britain (and also opera tickets, for that matter) Is surprisingly high In relationship to similar goods and services and people's earning capacity. Ballet seats frequently cost more in London than In New York,NYT - 506 words
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556 1977-07-18 2 JONATHAN KANDELL - By JONATHAN KANDELL NYT MARC Chagall, the most renowned living painter, celebrated his 90th birthday on Thursday night at a concert sponsored by the French Government and played by some of the world's leading musicians. Violinist Isaac Stern, cellist Mstlslav Rostropovltch, his wife,NYT - 556 words
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Article, Illustration683 1977-07-18 3 JOY ELLIOTT - REVIEWS Robeson —rise to stardom and fall from politics By JOY ELLIOTT Reuter THE late Paul Robeson, whose left-wing sympathies virtually erased his name from public notice at home, Is the subject of a recent biography tracing his rise from poverty to stardom and his fall from political grace. TheReuter - 683 words
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Article849 1977-07-18 3 CHRISTOPHER LEHMANN-HAUPT - BOOKS By CHRISTOPHER LEHMANN-HAUPT NYT The Broken Heart: The Medical Consequences of Loneliness. By James Lynch. 271 pages. Illustrated with tables..Basic Books. U5510.95 THE thesis of James Lynch's "The Broken Heart: The Medical Consequences of Loneliness" Is so simple and obvious that one would hardly thinkNYT - 849 words
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Article, Illustration633 1977-07-18 3 ANNA KISSELGOFF - By ANNA KISSELGOFF NYT Repertory In Review: 40 Year* Of The New York City Ballet. By Nancy Reynolds. Illustrated. 358 pages. Dial. U5522.50 IN January 1934, George Balanchlne, a ballet choreographer still unknown In the United States, toldNYT - 633 words
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Article, Illustration774 1977-07-18 3 CKT - By CKT IT IS not essential by way of credentials, but it helps to know that the man who puts together the Penguin Book of Lleder should lead a quiet life and own a large collection of gramophone records. And there It is,774 words
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Page 2 Advertisements
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Advertisement198 1977-07-18 2 IBJ The Bank far All Reasons Long-Term Financing. IBJ is Japan's oldest and largest long-term credit bank. We are the leading bank in arranging yen-denominated bond flotations by both foreign and domestic issuers. Main Bank to Japan's Key Industries. IBJ is main bank to more of Japan's industrial leaders than198 words
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Advertisement101 1977-07-18 2 Deluxe Set Lunch at §6.50 if you're thinking of a quick lunch but want to avoid the unial stuff served in town, come to Four Seasons. From Mondays to Fridays, our expert chefs prepare complete deluxe set lunches with a house specialty as the main course. Specialties like Beef Goulash101 words
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Page 2 Miscellaneous
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Miscellaneous231 1977-07-18 2 RADIO r# 0 SINGAPORE 3.00 PM Opening and Kudumba Malar (Tamil repeat) 3.30 Diary of Events (Tamil) 3.35 General Hospital (Last episode) 4.15 Science Report 4.30 Intermission 6.00 Opening and the Wild World of People 6.30 News in Brief 6.35 Dateline Yesterday Cortez 7.00 The Mumbly Cartoon Show 7.20 Anda231 words
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Miscellaneous52 1977-07-18 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on July 17 at Singapore airport. Maximum Temperature 30.7° C Associated Humidity 72 Minimum Temperature 24.2° C Associated Humidity 98 Hours of Sunshine 9-75 Rainfall in Millimetres Trace Total Rainfall for the Month 89.2 Total Rainy Days for the52 words
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Page 3 Advertisements
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Advertisement254 1977-07-18 3 Go on Advertising a washing machine in a newspaper read by businessmen? Unorthodox but evidence shows men are often involved in the decision-making process, so we thought it appropriate to say this. Point 1 A washing machine may not be the world's most exciting gift but it's one of the254 words
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Page 3 Miscellaneous
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Miscellaneous593 1977-07-18 3 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 1 Neither stolen nor strayed (4) 04 Trouble that's behind us? (6) 8 Animal spread all over a field? (3) 10 Post-operational check (4) 13 Sky fish (8) 14 Footballer on the carpet (7) 15 What to do, from necessity, when In a hole? (6)593 words
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2704 1977-07-18 4 Harry Ellis - THE United States appears to be warming to the idea of a special relationship with Asean. Recently in Washington the following discussion took place between Erland Heginbotham, deputy assistant secretary of state for East Asian and Pacific Affairs and two ambassadors2,704 words
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Page 4 Advertisements
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Advertisement205 1977-07-18 4 I OPEN TODAY M JiiH gall! fcw njr. I V: f Xr\ •K./ < CUFFORD CENTRE; RAFFLES PLACE. SINGAPORE 1 TEL:***** Robinson's returns to Raffles Place with a new department store. Centrally located on the lower ground floor of Clifford Centre, the store offers fine quality imported merchandise for your205 words
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INTERNATIONAL COMPANY NEWS
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Article213 1977-07-18 5 Reuter THE HAGUE, Sun. AB Volvo offered the Dutch state a further stake In the canital of its Dutch unit Volvo Car but this offer was turned down, Economics Minister Mr. Ruud Lubbers said in a written parliamentary reply. The Government will hold further talks onReuter - 213 words
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Article44 1977-07-18 5 FRANKFURT. Sun. The European Investment Bank will shortly raise a 150 million mark maximum 12year Eurobond, probably at 6.5 per cent, primary market sources said. Redemption begins after the first four years and initial pricing will be slightly below par, they added.44 words
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366 1977-07-18 5 SYDNEY, Sun. Australian millionaire Mr. Bill Wylie has floated a $Al5 million property trust In Melbourne which will buy 11 shopping centres in Perth and in several western Australian country towns. Mr. Wylie, an executive of the major Hongkong trading group, Hutchison International,366 words
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Article253 1977-07-18 5 NEW YORK, Sun. Westlnghouse Electric has confirmed that its "exploratory discussions" about a possible out-of-court settlement of its massive antitrust charges against 29 international uranium producers had failed to produce any "meaningful proposals" and had thus been discontinued for the moment. The company's comment was the253 words
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Briefly
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81 1977-07-18 5 P O order for Mitsui Engineering Reuter TOKYO, Sun. Peninsula and Oriental Steam Navigation has agreed to order six cargo ships worth 23 billion yen from Mitsui Engineering and Shipbuilding for delivery to be completed by 1979. Mitsui said agreement followed talks on a substitute for a 410,000-deadweight-ton oil tankerReuter - 81 words
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Article99 1977-07-18 5 Reuter NEW YORK. Sun. Phelps Dodge is scheduled to respond to its copper unions' non-economic demands at a meeting yesterday, the company's assistant vice- E resident Mr. M.P. Scanin, said. He said the firm is also committed to giving the unions a revised economic offer at someReuter - 99 words
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Article71 1977-07-18 5 Reuter ARMONK, N.Y., Sun. International Business Machines said its board authorised repurchases of up to 2.5 million shares or US$7OO million worth of its common stock, whichever Is less. The purchases will be made of blocks offered to It, from time to time, generally irf amountsReuter - 71 words
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Article85 1977-07-18 5 Reuter AKRON, Ohio, Sun. U8 Federal District Judge Leroy Conti ruled there is no legal basis for enjoining the proposed tender offer by United Technologies for Babcock and Wilcox or the merger of the companies. In view of the Judge's ruling, court sources said United Technologies'Reuter - 85 words
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Article50 1977-07-18 5 LONDON, Sun. Booker McConnell said it is nego tiating with Oriel Foods and Its associate Morris and David Jones with a view to acquiring the wholesale grocery business of Morris and Jones and William Kingham and Sons and the wholesale provision business of Thomas Robinson Sons and Co.50 words
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333 1977-07-18 5 QUALITY stocks gave a poor performance but second and third liners put up a better showing during the last 12 months In leading world stock markets. This is how James Chapel Far East summed up the performance of Stocks for the past year. In a333 words
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705 1977-07-18 5 NYT NEW YORK, Sun. For the last four years the Organisation of Petroleum Exporting Countries has regularly staged its favourite drama oil prices rise again. In the most recent production, earlier this month, there was an exciting clash between angry hawks, led byNYT - 705 words
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371 1977-07-18 5 NYT WASHINGTON, Sun. Bert Lance, the director of the Office of Management and Budget, told a Senate committee that he would take further administrative steps to avoid a conflict of Interest If the committee would release him from a pledge to sell 207,000NYT - 371 words
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256 1977-07-18 5 Reuter TOKYO, Sun. Western Australian Premier Sir Charles Court today urged Japan to Increase investment In Australia and step up help for her mineral expfoltlon. Sir Charles, who tomorrow begins six days of official talks with Japanese government leaders, also told aReuter - 256 words
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153 1977-07-18 5 Reuter TOKYO, Sun. Tokal Sugar Refining has filed a bankruptcy application with the Yokkalcnl Branch of the TSU District Court. A spokesman for the company said Its total debts are estimated at between 8.7 billion and 9.5 billion yen. He said the company Is takingReuter - 153 words
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Article126 1977-07-18 5 SYDNEY, Sun. The Abbey Capital Property group, a subsidiary of the Crown Agents, has sold its Capital Tower building in Melbourne for SA47 million slightly below the building cost to the group. The Capital Tower, In Bourke Street, Mel bourne, was bought by a local126 words
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Article294 1977-07-18 5 Reuter NEW YORK, Sun. A meeting between the Environmental Protection Agency (EPA) and Asarco regarding the firm's Tacoma, Washington copper smelter last Thursday failed to resolve the Impasse between the two sides, Mr. John Hamill. chief of the legal support branch of the EPA, division 10,Reuter - 294 words
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159 1977-07-18 5 LONDON, Sun. Burmah Oil is currently evaluating initial seismic and geological studies made In two offshore licence blocks In the Italian Adriatic, a spokesman said. Burmah is sole licence in one of the blocks, which covers an area of 17,000 acres, and It has159 words
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775 1977-07-18 5 ERIC SHORT - By ERIC SHORT F.T. A FEW years ago, when the stock market was rising strongly and unlt-llnked life assurance sales were soaring, the traditional life companies introduced the concept of a terminal bonus payable when a wlthprofits policy reached maturity or became a death claim.F.T. - 775 words
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Page 5 Advertisements
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Advertisement348 1977-07-18 5 Corporate Banking Services in the l&r East I' tarty !9th century Japanese \oh mask symbolising the "Inmate in feminine heaul\ 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 government bodies in the348 words
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555 1977-07-18 6 SHAREHOLDERS of Singapore Ceramics, which is now under receivership, are unlikely to recoup a single cent of their investments. For according to a statement of affairs prepared by the company it has an estimated deficiency of 91.07 million at Dec 21, 1976. Even this555 words
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280 1977-07-18 6 NORCROS LTD., a medium-sized manufacturing group In the UK, has acquired the entire equity of Pillar Naco (Singapore), a local window manufacturer, from Pillar Industries of Australia. The consideration for the Singapore company's issued capital of 300,000 $1 shares was $655,000. "Ncrcros Is convinced280 words
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182 1977-07-18 6 BOVIS South-East Asia, the civil engineering group, which recently entered into a Joint venture to .undertake the construction of a multi-storey commercial, shopping and office complex in Jalan Buklt Bintang, Kuala Lumpur has informed the Kuala Lumpur Stock Exchange that it has been awarded the182 words
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Article245 1977-07-18 6 Current Ex Date Total for Total far pajTMBt Dtto payable tboyenr previous year Cold Storage 12.8% July 4 July 18 21.8% 20.8% Motel Box S'pore 1HI July 1 July 10 1%I Metal Box Bhd 10% June20 July 10 15% ACM 12%TE July 4 July 20 12% TE 12%245 words
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Article264 1977-07-18 6 F N: Excise waived on sugar THE SINGAPORE Government has agreed to waive the excise on sugar in respect of export sales of soft drinks and not the excise on export sales of such products as erroneously reported in Business Times of July 10. There Is in fact no excise264 words
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COMPANY MEETINGS
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Article20 1977-07-18 6 THE following company meetings are due: July 19,11 a.m., Bangunan MIDF, 117 Jalan Am pang, Kuala Lumpur.20 words
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Article15 1977-07-18 6 July 19, 3 p.m., Mac Donald House, Orchard Road, Singapore 9.15 words
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Article2443 1977-07-18 6 1977 Hick Lev Last •ale Weak +er- <**• Dfc Dfr Crr Vl Y*M Net F/E Weak Val <*868> Weak Hlgk Lmm 8ECTION ONK INDUSTRIALS 154 204 M 215 101 198* 163 210 382 171 136 172 98 212 97 199 192 182 390 146 Ac2,443 words
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Page 6 Advertisements
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Advertisement176 1977-07-18 6 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who176 words
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Article282 1977-07-18 7 AMSTERDAM: The market closed vary steady on Friday after quiet melon brought on by the closure of Wall The (allure of the parties Involved In CaMnet discussions to reach tenement on an excess profit snaring scheme boosted shares. Hiiih wi led Dutch Internationals one guilder firmer. Eleevhere Insurances, trading282 words
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Article188 1977-07-18 7 BRUSSELS: Most share prices closed higher In quiet trading on Friday ahead of the weekend and due to Thursday's Wall Street closure after the New York blackout. Reserve, Bruxellee-Lambert, I ElectreM. Intercom. Vleille Montagae, FN and UCB all rose while 1 Sofina fell. 1 In foreign stocks UK, Oer-188 words
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Article279 1977-07-18 7 FRANKFURT: Shares closed mixed on fairly small turnover on Friday, bourse sources said. In higher electrlcals BBC Rained 2.50 marks and In utilities RWE and Veto* rose 1 80 marks. Kaufhof In stores lost 0.60 marks following Its first-half sales figures while Lufthansa Orda fell two marks as did279 words
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Article153 1977-07-18 7 MILAN: Most sectors drifted lower in quiet conditions on profit-taking on Friday, dealers said. Fiat, Saia Viseesa, both Olivetti and Gh lawk closed lower as did MsrtsiMs—. despite nomination of its new chairman. Elsewhere, Aaie Pirelli E C and Central* firmed against the trend. Banks and Insurances eased. Bonds153 words
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Article352 1977-07-18 7 PARIS: The market was narrowly Irregular in quiet trading on Friday, dealers said. They noted latest economic Indicators were mixed, with the fall in May Industrial production and record unemployment levels In the same month counterweighed by the June fall In commodity import prices and April's moderate money supply352 words
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Article254 1977-07-18 7 ZURICH: The market was quietly steady on Friday, dealers said. Bally continued Its rise In flnanclals after Synlkats owner Mr. Werner Rey pledged assets to Bally to cover claims by that company. Among Industrials gsadss and Beee roee. Dollar stocks were little changed after Thursday's closure on Wall Street.254 words
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Article371 1977-07-18 7 JOHANNESBURG: Gold shares tended mixed towards the close on Friday, after an easier opening, with some prices advancing on U8 Interest. dealers said. Mining flnanclals were little changed in thin trade. Coppers declined and platinums were narrowly mixed, while tin share Keeiberg gained 60 cents to 800. Asbestos counters371 words
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Article316 1977-07-18 7 TORONTO: The market closed •harply higher In very active trading on Friday. Management companies, media, utilities, transportation. real estate, paper and oil and gas Issues all posted double figure gains on Index. The composite Index was up six points and advances led declines 294 to 157. Dmiw Mlms, which316 words
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Article1290 1977-07-18 7 NEW YORK: Investors, responding to some excellent corporate earnings and higher weekly retail sales, staged a post-blackout rally that drove prices broadly higher in heavy trading on Friday. After a strong opening the market settled back somewhat shortly before mid-session, as Investors mulled the significance of the latest1,290 words
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Article61 1977-07-18 7 FINANCIAL TIMES INDUSTRIALS Friday 453.7 Thursday 449.9 Week Ago 443.7 DOW JONES AVERAGE INDUSTRIALS Friday 905.99 Thursday 902.99 Week Ago 907.99 LONDON DOLLAR PREMIUM Friday Ill* to 112 Thursday Ill* to 111% H.R. HANG SENG Friday 431.31 Thursday 431.87 Week Ago 435.98 SYDNEY INDUSTRIALS Friday 375.09 Thursday 375.38 Week61 words
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Article1615 1977-07-18 7 On July 15 TRADING on the Chicago Board Options Exchange rose to 203,324 contracts on Friday compared with 104, ,535 contracts on Wednesday. There i nu no trading on Thursday because of the power failure In New York. OPTION JLY OCT JAN 8TOCK Alcoa SO 1 1/31,615 words
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Article564 1977-07-18 7 UPI CONFRONTED with fears the economy would slow down, New York's 1977 blackout and some solid earnings reports, the New York stock market went nowhere last week. Trading was active. The Dow Jones Industrial average, again out of step with the rest of the market, slippedUPI - 564 words
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Article355 1977-07-18 7 AFP. TOKYO stock market prices declined In active trading last week for the first substantial loss In a month amid signs of a further economic slowdown. The Dow-Jones average of 225 selected Issues on the Tokyo Stock Exchange, a 65.05 yen gainer In the week before, lostAFP. - 355 words
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132 1977-07-18 7 BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 4, 1971 100) 1977 Weeke nded High Low INDUSTRIAL GROUP 8/7 lfi/7 POINT CHANGE 210 59 145.90 Automotive 199.19 aoi .a 3.29 496.57 962.92 Banks. Insurance, Finance 164.82 135.90 and Trustees 398.29 371.72 3.43 Chemicals, Rubber Products. 229.39 1(1.16 Refining and Smelting132 words
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Page 7 Advertisements
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Advertisement257 1977-07-18 7 BUSINESS TIMES Airline Directory $W Cmtri, Orchard ftaad, Siwfp.rt 9 (Td: 277.111) Air Caytoa 302-1 ftersi IMi Raar. IMC (Td: 2205.277) 1. (Td: 91UM) AMi Mr*iW«M 1109/1110 Far lad 9 (Td: 2JSXJS7) C*H Orchard ftaad lOrti NMf.UA 77 Irtlmn b (ML *****22) S'm* Hyatt HtM Shappiaa Ar 10-12 scatH ftaad,257 words
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COMMODITY REPORTS AND PRICES
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Article139 1977-07-18 8 LONDON. Sun. Terminal rubber values extended the morning's gains to finish 0.90 to 0.60 pence higher on Friday. Traders attributed the late strength of the market to nervous short-covering following reports of Soviet rubber purchases. Volume totalled 215 lots of 15 tonnes, 26 of five tonnes and one further option,139 words
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Article114 1977-07-18 8 THE Straits tin pr.'ce In Penang on Saturday was up $9 to $1,560 on an official offering down 7 tonnes to 195 tonnes. In LONDON on Friday, tin lost early gains to finish about £2 higher in Cash and down £5 for Three Months in both contracts. The114 words
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Article271 1977-07-18 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOBINC PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk M7S sellers, old drum %92' i sellers, new drum *97 W sellers. Copra Mixed (loose) UK/Cont. *52 huyer* Peooer: Muntok ASTA white f.o.b. 100% NLW (400 seller*. Sarawak white f.o.b. 96% NLW >380 sellers, Sarawak271 words
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Article77 1977-07-18 8 C.I.P. Rotterdam prices quoted In London on Friday in U8 dollar* per ton PrMay Pm. Malaysia 5* ffa bulk unq Sumatra 5% Unq July Aug Sep Oct Jan Uncb unch 525 sir/525pd 520 sir unch 510pd 525 sir/517.50 520 sir/510 pd 522 sir/500/520 490pd Nigerian 5* ffa bulk77 words
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Article66 1977-07-18 8 LONDON, Sun. Lead finished with all round gains of £3.50 on Friday. Values gave ground under renewed trade selling in the absence of fresh covering against recent physical business, dealers said. Three Months traded down to £339 In the ring before shortcoverlng gave some support, although the downtrend was66 words
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Article36 1977-07-18 8 LONDON, Sun. Zinc closed with gains of £5 for Cash and £5.75 for Three Months on Friday. The market was very quiet but basically unchanged from end-morning levels. Sales of 2,350 tonnes were mainly carries.36 words
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Article419 1977-07-18 8 Source: Swiss Bank Corp. Zurich RETAIL prices per tael So ted by the Singapore ilnese Gold and Silver Merchants Association are $445 for 90 per cent gold, $465 for 22k gold and $500 for 24k gold. In LONDON, on Friday, gold closed at $144.20/144.70 an ounce compared with theSource: Swiss Bank Corp. Zurich - 419 words
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Article370 1977-07-18 8 LONDON, Sun. Cocoa futures on Friday closed a short opening call mostly down from Thursday night by £4.50 (May at to £17.50 per tonne. Spot Julv was £7.50 up however, although more as a correction exaggerated overnight differentials, dealers said. Isolated selling at the first call was attributed by370 words
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Article48 1977-07-18 8 Jul? U Julv 12 July 13 July 14 July 19 July 16 $1,500 •Tin: <1.550 $1,500 $1,515 SI.550 $1,551 Tonne: 243 215 190 205 202 195 -►Rubber <S): 189.75 191.00 190.25 191.00 193.25 Rubber <M): 190.75 192.50 191.50 192.50 194.25 •per plcul ♦cents per kilo48 words
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Article294 1977-07-18 8 LONDON. Sun. Copper wire bars on the day row by fully £3 for Cash and £2 for Three Months on Friday. The market sagged following the news that Kennecott had reached agreement with another local union, but It subsequently steadied to around end-morning levels based on the trend in294 words
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Article225 1977-07-18 8 LONDON, Sun. Silver rose by 2.5 to 3.0 pence per troy ounce on Friday. The continued firmness In gold provided the main supporting Influence with short-covering and some fresh buying taking Three Months up to 271.0 pence before profit-taking on the kerb pared the position to 269.8 pence. Sales225 words
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Article299 1977-07-18 8 BANGKOK, Sun. The rice market was active in the government-to-go-vernment sector last week, but continued quiet in the commercial sector. Bangladesh bought 50,000 tonnes of Thai rice during the week for shipment from mid-July to mid-August on a government-to-govern-ment basis, comprising 30,000 tonnes parboiled rice 25 per cent and299 words
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Article230 1977-07-18 8 CHICAGO, Sun. At the end of an irregular trade on Friday, with wide price swings to either side of the Krevlous close, soybean itures were up slightly In nearbys and down in deferreds. At the close, the spot month was up eight cents and August was up IVi cent230 words
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Article141 1977-07-18 8 CHICAGO, Sun. Wheat futures closed with losses of 4% to seven cents a bushel on Friday, ending the session at the day's Tows. Weakness appeared early as the losses In deferred soybean contracts prompted selling In deferred wheat. Easier Gulf wheat bids also influenced the July. The losses were141 words
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Article526 1977-07-18 8 GENERALLY easier conditions ruled at the Singapore produce market last week. Business contracted was minimal and strictly on local and neighbouring countries' consumer accounts. By and large, trading was once again characterised by the disparity between bid and offer prices with buyers and sellers still refusing526 words
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MONEY AND EXCHANGES
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Article200 1977-07-18 8 CONTINUED speculation last week that stronger currencies should appreciate In the foreign exchange market saw the marks strengthening to gain 2.2755-70 vis-a .vis the dollar compared with the opening of 2.3000-20. Senior US administration sources said the US will not intervene In the exchange market, trigger more dollar sales.200 words
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Article63 1977-07-18 8 ACBC (V. First Chicaco m A Icemen* Bank (V. Citibank jv, Bangkok Bank 7 HSRT «h Bank of America •H I ndocuM ft V Bank ot China 7 Malayan ""bHm f l< Bank ot Tokyo CH Mitsui Bank CH Bank N afara OCBC «V, Indooaaia 7 OUB63 words
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Article260 1977-07-18 8 Asian rates THE market remained quiet last week, with a slight ease of eight per cent In short dates. US money sQpply reportedly rose sharply (Ml by $3.2 billion and M 2 by $>.8 billion), but had no effect on rates due to lack of interest and closure of the260 words
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Article288 1977-07-18 8 DISCOUNT houses experienced moderate shortages for the earlier part of last week when interbank rates remained high. Towards mid-week, however, interbank overnight eased to three per cent with term deposits dropping by Vfa per cent and 1/16 per cent In the Three and Six Months respectively. Discount house288 words
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Article499 1977-07-18 8 Source: Swiss Bank Corp. Zurich ZURICH, Sun. The dollar continued to drop sharply against the deutschemark, the Swiss franc and the Japanese yen during the beginning of last week. However, the US unit was able to recover somewhat towards the end of the week. The dollar's decline was dueSource: Swiss Bank Corp. Zurich - 499 words
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Article247 1977-07-18 8 LONDON, Sun The dollar declined In moderate afternoon business on Friday, as operator took positions In some European currencies and the yen ahead of the weekend, dealers said. Earlier, it roughly held its gains made on Thursday, after German Lombard and Swiss bank and Lombard rates were cut. Some247 words
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Article135 1977-07-18 8 Euro rates LONDON, Sun. Eurodollar deposit rates closed little changed from opening levels on Friday. The U8 money supply data had little effect on trading. In day-to-day rates, the Monday/Tuesday deposit eased 1/16 point Initially but recovered to close 5 1/25 3/8. Among period rates, the One-Month deposit gained 1/4135 words
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Article250 1977-07-18 8 NEW YORK, Sun. The dollar closed slightly weaker on Friday after falling In thin afternoon trading from Its firm opening. The New York marke.t was closed on Thursday due to the power failure In the city. Weaker currencies came under pressure, particularly In the forward market where discounts250 words
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Article32 1977-07-18 8 FRANKFURT exchanges closing quotes on July 15: US 2.2820/30 Can 2.1590/1610 UK 3.922/927 Neth 93.50/80 Swltz 94.62/72 Italy 2.592/600 France 47.03/10 Japan 0.8630/40 Belg cmom 6.40/41 Belg fin 6.39/40 Norw 43.45/5332 words
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Article40 1977-07-18 8 FOR the week ended Friday July 15 the range of call rates received from Bhort Deposits (M) Berhad was as follows: BANK FUND 2*K to 5%% GENERAL FUNDS: 3% to 5*H. Movements of funds totalled $425 million.40 words
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Article48 1977-07-18 8 THE OVERNIGHT market steadied throughout last week at the 4* 4W level. On Friday, It closed at parity, being liability base day. One Month was well traded at the 4% 4 1/16 level. Twos and Threes were quiet, closing at 4 1/2 3/8 for both periods48 words
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Article430 1977-07-18 8 LONDON. Sun. Coffee futures finished at their highs on Friday, with gains of £102.90 to £75 per tonne. Trading at the close Included Spot July at £2,620. September at £2,570 and January at £2,310. The day's turnover totalled 3,277 lots Including 39 options. Spot July remained firm on technical430 words
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Article280 1977-07-18 8 LONDON, Sun. Terminal sugar closed steady on Friday, with pared gains from Thursday night of £1.85 (Dec at £117.15 bid) to £0.60 per tonne. Dealers said the easier tone was Influenced by a lower than expected New York opening, although sellers were somewhat reserved In preparation for any possible280 words
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Advertisement167 1977-07-18 8 Don't let the language barrier stop you from wider contacts I «L W m '*r s m T i s o° \V» e o^o^> nN A P°" S e«° "y'Mn \e h t YOU SIMPLY CANNOT FAIL WITH VISAPHONE. V X Use it at home, while travelling in fact anywhere167 words
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Article, Illustration1613 1977-07-18 9 ROBERT ELKIN - Millionaire's son one of hottest properties in motor racing By ROBERT ELKIN EVEN World champion Hunt Is looking anxiously over his shoulder as a handsome youngster becomes the new golden boy of the world's circuits. Rupert Keegan is so dedicated to winning1,613 words
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Article, Illustration874 1977-07-18 9 ALAN HOBY - Marathon-mad Ian sets his sights on Moscow By ALAN HOBY The Sunday Express TO outsiders Marathon men are a mystic, even mad, breed. Anyone who runs 26 miles 385 yards up hills and over bone-jarring roads in rain or heat must surely be a hero or a headcase or both!The Sunday Express - 874 words
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Article404 1977-07-18 9 SILVERSTONE, Sun. James Hunt of Britain, the reigning world motorracing champion, scored his first win of the season In the British Grand Prix at Silvertone yesterday. Niki Lauda of Austria was second and Gunnar Nilsson of Sweden was third. Lauda, driving a Ferrari, pulled404 words
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Article291 1977-07-18 9 KUALA LUMPUR, Sun. Taiwan won the four-day Eight Asian Amateur Team Championship with a total aggregate of 865 at the Royal Selangor Golf Club course here today. 865 TAIWAN 210, 224, 213, 218: Chen Tze Ming 68, 76, 74, 71; Chen Tze Chung 69, 77, 68,291 words
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1540 1977-07-18 9 Guardian DON Revle's decision to resign as England manager should not be a matter either for rejoicing or regret. To a large extent It Is simply a matter of record. Under Revle. England have failed to reach the quarter-finals of a European championship andGuardian - 1,540 words
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Page 9 Advertisements
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Advertisement14 1977-07-18 9 *r M.5 c #f> > '<*?/ N TAILORS* STORE I HMDH RAFFLES HOTELS x -*L 'ti14 words
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324 1977-07-18 10 THERE are occupational injuries and diseases In Singapore which have yet to be identified as the country continues to go through rapid Industrialisation. The Industrial health department of the Ministry of Labour has conducted surveys on the prevalence of several occupational diseases among324 words
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296 1977-07-18 10 SINGAPORE has come a long way In promoting the concept of Industrial safety to its Industrialists since the time when manufacturing activities were conducted In shop house manufactories and not the large concerns which they are today. This point was made by Mr.296 words
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147 1977-07-18 10 THE Applied Research Corporation, established in 1973 as-a non-profit organisation with the encouragement of the Singapore Government to provide professional services In consultancy and "research and development to both the Kublic and private sectors, as up till the end of 1976 undertaken a147 words
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481 1977-07-18 10 Reuter LONDON, Sun. The International Tin Council (ITC) has agreed to revise immediately the floor and ceiling prices for tin to M 51,200 to $1,500 per plcul from $1,075 to $1,325 previously. The new price structure is.as follows. Floor price $1,200Reuter - 481 words
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Article, Illustration215 1977-07-18 10 NEW Zealand's manufacturers are hopeful of boosting their exports to the region through the New Zealand Industries Trade Exhibition to be held in Singapore next month, said Mr. Ray Coats, the Trade Commissioner here. The six-day exhibition beginning Aug 1 at the Shangri-La215 words
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310 1977-07-18 10 THE Prime Minister Mr. Lee Kuan Yew yesterday B.ve a solid endorsement to r. Llm Chee Onn, the PAP's candidate for the Bukit Merah by-election this Saturday. He described Mr. Lim as an outstanding officer in the' civil service showing great promise,310 words
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277 1977-07-18 10 KUALA LUMPUR, Sun. Several Asian countries have requested the labour movement in Malaysia and Singapore to assist them In starting business ventures. The experience of these two countries in Initiating various business and economic ventures were discussed at a seminar on trade union participation277 words
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Article40 1977-07-18 10 BRUSSELS. Sun. The Belgian Central Bank will start issuing counterfeitproof currency next year. printing bills on security paper incorporating a fine metallic thread. The first banknotes off the press will be In the I,bOO-franc denomination, worth about Ss7o.40 words
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223 1977-07-18 10 Reuter LONDON, Sub. The UK Treasury said the government ku BOW confirmed its intention to provide under the Finance Bill, a reduction in the rata of advance eorporatioa tax front 35/65ths to 34/66 tha with retrospective effect from April 6. 1*77. This willReuter - 223 words
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230 1977-07-18 10 SOCIAL security Is best based on the cultivation of community responsibility, said Dr. Toh Chin Chye yesterday. The Minister for Health, speaking at the opening of Rochore Kongsl for the Aged, said the pilot project at Rochore being undertaken by so many people230 words
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Article40 1977-07-18 10 KUALA LUMPUR, Sun. A high-level Swedish trade delegation will visit Malaysia later this year o Investigate investment possibilities. A minister will lead the team which will comprise representatives from leading companies, a Swedish Embassy spokesman said here today.40 words
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527 1977-07-18 10 AFP HONGKONG. Sun. A Peking People's Daily article has signalled a massive step-up In China's foreign trade in the near future to export more for Import of more foreign equipment and technology so as to accelerate China's modernisation programme. TheAFP - 527 words
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Article231 1977-07-18 10 THERE are now 73 commercial banks and 22 merchant banks In Singapore, according to latest figures supplied by the Monetary Authority of Singapore. Out of the 73 commercial banks, 13 are local and the rest are foreign. Among the 60 foreign banks, 24 are full-branch231 words
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173 1977-07-18 10 AP BANGKOK, Sun. British and Thai aviation authorities may relax restrictions imposed on Hongkong's Cathav Pacific Airways (C--(CPA) and Thai International Airlines after more than three months of disputes over air routes and seating capacity. Thai officials said over the weekend. Informal talksAP - 173 words
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Article117 1977-07-18 10 Reuter JAKARTA, Sun. The newly found oil field at Sembakung in East Kalimantan (Borneo) has started operation with a daily output of 2,000 barrels of oil. the state-owned oil company Pertamina said over the weekend. The field, run by a group of American oil firms,Reuter - 117 words
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Article539 1977-07-18 10 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKO SIA SQ582 0250 MAA/CMB SAS SK097 0640 CPH/THR/BKK CPA CX710 1000 HLP OIA GA980 1030 HLP THAI T0423 1035 BKK SIA SQ211 1045 HLP OIA GA944 1055 PKU OIA OA908 1100 MES PAL PR501 1115 MNL539 words
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Advertisement42 1977-07-18 10 BRITISH MAIAYAN TRUSTEES LIMITED NOTICE We regret to announce that MR TAN HEE PHUAN has resigned from the Board of Directors of BRITISH MALAYAN TRUSTEES LIMITED with effect from 29th June 1977 due to ill health. TAN HOON SIANO CHAIRMAN Dated: 18/7/7742 words
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Advertisement155 1977-07-18 10 MJ Texas Instruments Va SINGAPORE (PTE) LIMITED HAVE AN IMMEDIATE OPENING FOR SENIOR ACCOUNTING MANAGER To work in all areas of T1 Singapore Accounts Department. After initial training in Singapore, the candidate may be sent to our T1 Plant in Dallas, Texas, USA for further training. The successful candidate must155 words
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