The Business Times, 25 July 1977
1977-07-25
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The Business Times
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Title Section9 1977-07-25 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, JULY 25, 1977 50CENTS9 words
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NEWS IN BRIEF
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Article101 1977-07-25 1 UPI SEOUL, Sun. The first American combat troops will leave South Korea late In 1978 as part of the five-year withdrawal plan In which the Carter Administration will ask a reluctant Congress for about $2 billon (554.9 billon) In military aid and credit for the government ofUPI - 101 words
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Article71 1977-07-25 1 AFP MADRID, Sun. The Spanish Government early today announced an "emergency plan", Including stringent tax measures, to deal with the country's economic crisis. Cheating on taxes was made a crime for the first time. A bee fed-up corps of Inspectors will be assigned to check bank accounts.AFP - 71 words
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Article90 1977-07-25 1 AFP TOKYO, Sun. Prime Minister Takeo Fukuda is expected to promise "unconditional Japanese financial cooperation" In major development projects Asean Is undertaking when he meets Asean leaders in Kuala Lumpur next month, the Kyodo news service reported today. Quoting government sources, Kyodo said Japan will giveAFP - 90 words
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Article50 1977-07-25 1 Reuter BANGKOK, Sun. The Thai Airways Company (TAC) will resume its flights to Vientiane next month after a six-month suspension, TAC's managing-director Mr. Thaweep Bunnag said yesterday. Mr. Thaweep told reporters on his return from negotiations with Lao officials that agreements had been reached between both sides. Reuter.Reuter - 50 words
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Article53 1977-07-25 1 FINANCE Minister Hon Sul Sen has appointed Mr. A.A. Webster, deputy chairman of the Singapore International Chamber of Commerce, as a member of the Securities Industry Council. Mr. Webster, who Is also chairman of Inchcape Berhad, replaces Mr. R.C. Wurtzburg following his retirement from Straits Steamship and53 words
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Article46 1977-07-25 1 Reuter HAMILTON, (Bermuda), Sun. The United States and Britain today signed a new civil aviation agreement to govern passenger flights between them, but It left unresolved the issue of whether the controversial Anglo-French Concorde supersonic Jet can land in the US. Reuter.Reuter - 46 words
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Article54 1977-07-25 1 AFP COLOMBO, Sun. Police were today patrolling various parts of Sri Lanka as election violence left a trail of at least 34 dead, police sources said. Twenty of these killings took place following last Thursday's election In clashes between supporters of rival political groups, while preelection violenceAFP - 54 words
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Article71 1977-07-25 1 Reuter CAIRO, Sun. Waves of Egyptian fighterbombers pounded the Libyan air base at Adem today for the second time In three days, destroying planes, tanks, runways and anti-aircraft missiles, the Middle East News Agency reported. The official Egyptian agency quoted a military spokesman as saying "a greatReuter - 71 words
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Article34 1977-07-25 1 PERTH, Sun. The West German Government has offered to act as a go-between In Austra-lian-European Economic Community (EEC) trade negotiations, West German Minister for Economics Dr. Hans Frlderlchs said today.34 words
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Article59 1977-07-25 1 IPOH, Sun. The Government today announced the abolition of the five per cent export duty on live pigs in a move to stimulate the growth of the swine Industry to earn more foreign exchange. It will be effective from Thursday, said deputy Finance Minister Mr. Richard59 words
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Article111 1977-07-25 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 Turnout *000 Price Hick Low July 22 1977111 words
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LOCAL STOCK INDICES
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Article73 1977-07-25 1 July 18 July 19 July 28 July 21 July 22 tt B.T. Index: 385.04 393.78 397.28 398.80 389.41 Industrials:* 205.13 280.73 207.77 287.80 288.48 Finance: 432.22 432.98 430.80 438.21 435.17 J* Hotels: 100.80 188.93 188.71 180.97 180.71 Properties: 173.40 172.93 173.79 173.01 170.87 t Tins: 100.97 110.15 110.11 110.0373 words
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Article83 1977-07-25 1 July IS July 19 July M July 21 JulyS tt B.T- Index: 392.01 399.35 405.84 407.04 394.84 Industrials: 293.02 293.51 295.57 >96.43 291.20 Finance: 384.66 386.12 388.31 388.62 384.45 Hotels: 174.11 174.11 174.18 174.18 174.18 Properties: 163.39 161.37 182.08 161.27 158.14 t Tins: 115.06 114.85 114.94 115.38 115.61 t83 words
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1054 1977-07-25 1 JOHN TAN - BALANCE IS ACHIEVED ■y JOHN TAN SINGAPORE'S promotional efforts to upgrade Its Industries seem to be paying off. The newer industries, together with the old, strikes a balance between low-skill, labour-Intensive ones and high technology, high value-added factories. This has enabled the manufacturing sector1,054 words
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537 1977-07-25 1 NYT WASHINGTON: The Carter Administration's first effort to turn back an Industrial price increase by a public expression of disapproval appears to have failed. Late on Thursday, the Administration criticised as inconsistent with reasonable efforts to control inflation, price Increases for structural steelNYT - 537 words
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290 1977-07-25 1 AFP TOKYO, Sun. A major diplomatic issue is looming between Tokyo and Canberra with the prolonged negotiations over a price reduction of Australian raw sugar having come to a deadlock, according to a Japanese dally, the Asahl Shim bun. The talks between 33AFP - 290 words
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Article184 1977-07-25 1 Reuter O EN EVA, Sun. International trade negotiators will consider "major new proposals" from the U8 here this week to unblock drawn-out talks on the key sectors of agriculture and non-tariff barriers to commerce, official sources said. Informed sources said the negotiations under the OeneralReuter - 184 words
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Article95 1977-07-25 1 WESTERN OVERSEAS, a Wearne family Investment company, yesterday announced a preferential offer of Its existing holdings of .37 .million shares-In Wearne Brothers to all other stockholders of the latter company. The offer is to be made on the basis of one-for-six at a price of *2.8895 words
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341 1977-07-25 1 THE local subsidiary of one of the largest plastics group in Europe, GPG (Southeast Asia) is to invest another $2.6 million between now and August, 1979, to expand the work capacity of its plant in Jurong. Speaking to Business Times about the expansion341 words
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583 1977-07-25 1 UPI TOKYO, Sun. Chinese leader Teng Hsiao-plng's return to active politics will give birth to a good environment In respect of SlnoJapanese relations, especially economic ex-, changes between the two countries, observers here said yesterday. There Is no doubt, they said, thatUPI - 583 words
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Page 1 Advertisements
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Advertisement47 1977-07-25 1 [Ricohl for plain paper copying *****33 VW Wywy Private Limited ■■f m responsible compmmy 39th Floor Hong Leong Building Singapore 1. Leisure/ TV Radio/ Share Information LJfi'ur* 0 1 P3 vtrlt MarfcaU Feature P4 Commodities International Co New*/ Sports Overseas News PS Local/Overseas Local Co News/ News47 words
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Advertisement136 1977-07-25 1 Foreign Currency dealings? ACBC males it easy. Come to the bank that not only has the resources, but the connections. Be it in renminbi, or other major foreign currencies. Or other aspects of international transactions. ACBC is the bank that makes banking easy for all its clients. With a simple136 words
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Advertisement122 1977-07-25 1 ^{<%:){*{$?-}\*@^:+^?@."}(?_>(~ JAL FLIGHT 712: THE TOKYO EXPRESS Non-stop tolbkyo, NEW YORK VANCOUVER t: It t\ 1 W 1 FRANCISCO FWiOS Wang ANGELES I I HONOLULU I SINGAPORE MEXICO CITY Only on JAL can you non-stop to Tokyo, then make convenient connections to U.S. and Canada. 39 JAL flights depart every122 words
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REVIEWS
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Article841 1977-07-25 2 THE move made recently by the Singapore Society of Accountants to set its own house in order comes not too soon for a profession in need of a benchmark to measure its professional standards. Auditing and certification of accounts is about the most public part of an841 words
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Article, Illustration561 1977-07-25 2 PETER HULM - Million feast of jazz, pop and folk music MUSIC J B: PETER HULM IT BEOAN as one man's passion (or music and a good time. Now the annual Montreux International Festival Is a one million Franc (SSI,000,000) feast of jazz, pop and folk music, attracting 50,000 visitors from all over561 words
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1106 1977-07-25 2 JOHN ROCKWELL - By JOHN ROCKWELL NYT ARTTBTIC reputations are curiously fragile, mutable things, and never more so than In the first 50 years after an artist's death. Composers seem particularly prone to radical revisions of their importance. Sometimes they die famous and respected (Sibelius, Hlndemlth) andNYT - 1,106 words
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Article164 1977-07-25 2 THE National Theatre Trust will be holding the following concert package for July and August. On July 28, organists from the recent Asean Yamaha Electone Festival together with three other guest organists from Japan. Taiwan and Hongkong will be performing at the Conference Hall. They will each164 words
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Article757 1977-07-25 3 PETER SHAW - By PETER SHAW UPI THE muse first inspired William Mcgonagall, one of the worst poets in the history of literature, 100 years ago this summer. These days he is outselling Browning and Tennyson. Mcgonagall, a humourless Scot whose verse was amusingly awful, penned the immortalUPI - 757 words
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Article1480 1977-07-25 3 A. TYCOON - By A. TYCOON Tycoon, sot ■urprUingly, prefers to nmk SUNDAY: This is the day I reserve strictly for family and friends. The day for the occasional mahjong game. We don't play big. I consider winning or losing $400 to $500 a small enough sum, between friends not1,480 words
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Article, Illustration880 1977-07-25 3 LEONARD SILK - BOOKS By LEONARD SILK NYT •Hear That Lonesome Whistle Blow. Railroads In The West. By Dee Brown. Illustrated. 306 pages. Halt, Rinehart Winston. U5512.96. DEE BROWN'S "Hear That Lonesome Whistle Blow" Is In the old-fashioned muckraking tradition of business history. His robber barons are rascalsNYT - 880 words
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Article, Illustration695 1977-07-25 3 THEODORE SHABAD - EARLY RUSSIAN REVOLUTIONARIES By THEODORE SHABAD NYT In Th» Nim OfTh# People. By Ad«a Ulan. 418 P*«*. Vikinc Ptm*. US$l5. STUDENTB of Soviet affairs often comment on the remarkable continuity In Russian life, whether under Czars or commissars. Then and now,NYT - 695 words
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Page 2 Advertisements
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Advertisement190 1977-07-25 2 The international bank with your interests at heart. Dai-lchi Kangyo Bank is Japan's largest bank. With assets of over 46 billion dollars. But our size doesn't make us impersonal. A worldwide staff of financial experts ready to give your project their individual attention. And we have your interests at heart.190 words
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Page 2 Miscellaneous
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Miscellaneous952 1977-07-25 2 TWO-IN-ONE CROSSWORD r.t r /m. CRYPTIC PUZZLE ACROSS 4 Rose Shoot fed with milk? (0) 7 Woolly part of Wales (8) 8 The charm of bells, we hear (6) 10 A devout fish and chap than? (5) 13 Mud on the motorway again (4) 14 Foreign noisy pub (4) 15952 words
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Page 3 Advertisements
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Advertisement22 1977-07-25 3 If you are dealing with General Diesel,you are on-line to Data General mmi-co Inventory control task. GtaerliDie r xa mm j* f4 >22 words
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Article, Illustration982 1977-07-25 4 LONDON: European investors are reviving their Interests In South-east Asia, particularly Singapore, a region which they had not paid sufficient attention to over the last four years. According to Mr. P.Y. Hwang, the executive deputy chairman of the Singapore Economic982 words
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Article467 1977-07-25 4 PETER SHAW - By PETER SHAW UPI. ONE of Britain's most ignored laws governs what can be sold on a Sunday and who can sell it. Authorities estimate more than £2 million (SsB million) worth of goods are sold illegally throughout the country every Sunday. The 1950 ShopsUPI. - 467 words
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Article1052 1977-07-25 4 JOSEFINA PROTACIO - By JOSEFINA PROTACIO FT THERE will be no more Blue Monday for the average working Dane by the year 2000. By then he'll be working just one day a week pushing buttons. This seems to be the message the Danish State Television wanted toFT - 1,052 words
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Article, Illustration806 1977-07-25 4 PETER LEWIS - Luxembourg the penalty for being small By PETER LEWIS NYT THIS tiny, fairy-tale Grand Duchy, nestling In the heart of western Europe where Belgium, France and Germany meet, is running out of people. Its own people, that Is. Foreigners are In too plentiful supply. Although the LuxemDourgers are mostly RomanNYT - 806 words
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Article727 1977-07-25 4 NYT NEW YORK: Leibel Bestrltzky, who operates a kosher grocery on the lower east side of Manhattan. Is nobody's economic man that profit-maximising creature who stalks through the pages of economics textbooks and dominates economic theory. Bestrltzky turned up In the New Yorker's 'Talk ofNYT - 727 words
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Page 4 Advertisements
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Advertisement164 1977-07-25 4 Anybody Lookig For Finance Needs a Good Ming lo! And IBS are just the people who can do the job. On any aspect of finance, International trade, Foreign Exchange, Industrial Financing and a whole broad range of credit facilities designed for your corporate needs. We don't just talk we make164 words
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INTERNATIONAL COMPANY NEWS
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575 1977-07-25 5 Reuter NEW YORK, Sun. Fueled by a sharp increase In earnings from Its foreign operations, Texaco, the third largest US oil company, made an 19 per cent rise In net earnings for the second quarter this year. Net earnings for the quarter totalled U*****.9 millionReuter - 575 words
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Article179 1977-07-25 5 Reuter LONDON, Sun. Midland Bank achieved a pre-tax profit of £102.42 million In the first half-year ended June 30, 1977 compared with £66.57 million previously. This represents an increase of 54 per cent and lifted earnings per share to 34.6p basic from 20.9p last time (31.5pReuter - 179 words
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Article176 1977-07-25 5 Reuter LONDON, Sun. Metal Box chairman Mr. Alex Page told the annual meeting trading has been patchy so far this year although orders for food and beverage cans for the second quarter are reasonably good. Sales of other forms of packaging so far have beenReuter - 176 words
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Article166 1977-07-25 5 Reuter NEW YORK, Sun. Avon Products Inc., the door-to-door cosmetic company, reported an 11 per cent gain in second quarter and first half profits, which it said was below target. Avon's profits for the quarter were U5537.9 million, or 65 cents a share, up from $34.2Reuter - 166 words
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Article51 1977-07-25 5 Reuter SAN FRANCISCO, Sun. Chartered Bank of London said it agreed in principle to acquire Commercial and Farmers National Bank of Oxnard, California, for US$7.2 million or $29 a share. Commercial and Farmers has 13 branch offices in Southern California. Other details about its size were not disclosed.Reuter - 51 words
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Article147 1977-07-25 5 Reuter TURIN, Sun. Fiat SPA said group first half operations have consolidated last year's recovery with sales In various group sectors rising due to the strength of export demand. Car sales In Italy remained weak, with registrations in the first five months falling seven perReuter - 147 words
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Article120 1977-07-25 5 Reuter LONDON, Sun. INA Corp Is making a $50 million convertlble subordinated debenture issue carrying an expected six per cent Interest rate, lead manager Blyth Eastman Dillon and Co International said. The debenture will be convertible Into INA Corp shares on or after May 1, 1978Reuter - 120 words
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Article108 1977-07-25 5 Reuter NEW YORK, Sun. Seiko said it is introducing a new analog quartz solar watch, with solar cells giving the batteries a life of 10 years. The company said it also Introduced an alarm chronograph liquid crystal digital quartz watch and a world timer/ perpetual calendarReuter - 108 words
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533 1977-07-25 5 Reuter NEW YORK, Sun. Opec countries borrowed nearly US$4 billion (Ss9.B billion) in the first seven months this year in Euro-currency and international bond markets or close to their $4.1 billion borrowed in all last year, Morgan Guaranty Trust said. Leading OpecReuter - 533 words
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Article101 1977-07-25 5 Reuter GUATEMALA CITY, Sun. Guatemala is studying three projects for new oil pipelines proposed by national ana foreign companies, Economy Minister Ramlro Ponce Monroy said. Two of the projects, each costing an estimated US$5OO million (591,230 million) would run from Puerto San Jose on the PacificReuter - 101 words
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Article385 1977-07-25 5 Reuter FRANKFURT, Sun. Senior Frankfurt foreign exchange dealers expect a devaluation of the Scandinavian currencies within the European Joint float within the next few weeks. The mark's record foreign exchange strength this month has taken the Scandinavian currencies to unreallstlcally high levels against other major currenciesReuter - 385 words
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471 1977-07-25 5 Reuter NEW YORK, Mon. Exxon Corp., the world's largest corporation said an Improvement In foreign refining and marketing operations, particularly In Europe, was not enough to offset adverse effect* of foreign currency translation In the second quarter. Loss from foreign currency translations Eushed net earningsReuter - 471 words
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341 1977-07-25 5 Reuter TOKYO. Sun. Yen bond floatations by foreign Issuers In the Japanese capital market are expected to Increase sharply In coming months, as the government Is easing capital outflow controls, Finance Ministry sources said. Following the Banque Francalse Du Commerce Exterleur's 20 billion yenReuter - 341 words
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160 1977-07-25 5 Reuter WASHINGTON. Sun. The Federal Reserve Open Market Committee voted to ease monetary policy slightly at its meeting on June 21. Minutes of the meeting released here show the panel decided to leave the federal funds target unchanged from the level set at theReuter - 160 words
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Article108 1977-07-25 5 Reuter WASHINGTON, Sun. The Administration succeeded in turning back a proposed amendment to the House Farm Bill which would hare mandated a minimum 25 million tonne grain reserve. Instead, the House passed a version which will authorise the Secretary of Agriculture to establish a reserveReuter - 108 words
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126 1977-07-25 5 Reuter VANCOUVER, Sun. Gulf Resources and Chemical Corp cleared Its acquisition of 1.6 million shares of Bethlehem Copper Corp with the Foreign Investment Review Agency before making the purchase, Gulf resources vice-president Mr. Robert E. Bowman said. "We have a letter from FIRA sayingReuter - 126 words
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Article94 1977-07-25 5 Reuter JOHANNESBURG, Sun. Two black mlneworkers were killed by fumes and 80 were admitted to hospital following a fire at Buffelsfonteln Gold Mining, the company said In a statement. The accident which occurred on Wednesday, Is not expected to affect production materially, andReuter - 94 words
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Article93 1977-07-25 5 Reuter LONDON, Sun. Cavenham said Its proposed capitalisation Issue of 35.62 million new 10 per cent preference shares of £1 has been approved by shareholders. The board has been informed by Generale Occidental (GO) that GO does not Intend at present to dispose of any of its entitlementReuter - 93 words
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Article56 1977-07-25 5 Reuter NEW YORK, Sun. Citicorp said it plans a Swiss listing for its shares later this year. A Citicorp spokesman said this Is part of a continuing effort to make the shares available worldwide. They are currently listed In London, Tokyo and Amsterdam but he added no otherReuter - 56 words
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Article68 1977-07-25 5 Reuter LONDON, Sun. Ladbroke Group said it will make a one-for-ten rights Issue at llOp per share to raise £5.2 million. The company estimates pre-tax profit for the first half-year ended June 28 will be £10.9 million (£7.09 million and intends to declare an Interim dividend of 3p (2.024p)Reuter - 68 words
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286 1977-07-25 5 AP NEW YORK, Sun OAF Corp. said it no longer can compete with the giant Eastern Kodak Co. and is dropping out of the consumer photography business. "We have been trying for a good number of years to compete in that market andAP - 286 words
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Article169 1977-07-25 5 Reuter LONDON, Bun. Lloyds Bank enjoyed a 39 per cent Increase in pre-tax profit to £90.1 million for the first half-year ended June 30, 1977 compared with £64.61 million previously. This constitutes earnings per share of 25.49p basic (20.52) and 23.87p fully diluted (19.21). TheReuter - 169 words
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Article115 1977-07-25 5 Reuter ZURICH, Sun. Swiss Aluminium Australia plans shortly to float a 100 million franc 5*4 per cent 15-year loan on the Swiss market, banking sources said. The Issue price will be fixed later. Swiss Aluminium Australia, a wholly owned subsidiary of Schwelzerlsche Aluminium AG (Alusulsse), will use theReuter - 115 words
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Page 5 Advertisements
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Advertisement140 1977-07-25 5 Burroughs Computer System Burroughs CD >9 V )C m programmed to cure... What are today's most common corporate diseases? Being chronically out of control or paralysed by accounting and record-keeping requirements or choked by volumes of slowmoving inventory. They harm your company's profitability in big ways. Burroughs can give you140 words
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COMPANY NEWS
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391 1977-07-25 6 WESTERN OVERSEAS, a Wearne family Investment company, Is to offer 6.37 million of its existing stock units in Wearne Brothers out of its total holding of 0.88 million stock units to all the other stockholders. Merchant bankers, Baring Sanwa Multinational, which made the391 words
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539 1977-07-25 6 KUALA Selangor Rubber, a U.K. Incorporated company, made a pre-tax profit of £164,644 for the year ended Dec 31, 1976 compared with £76,997 in 1975. Profit Includes investment Income on securities and deposits. Turnover was £399,524 in 1976, up from £216,258 In 1975. The539 words
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Article239 1977-07-25 6 Current Ex Date Total for 2 payment Date payable the year previous y«ar Southern Kinta 58.61% June 16 Juiy 26 97.07% 115.38% Southern Malayan 40% I June 16 July 26 64.6%I 73.6% Peg) Malaysia 20% July 5 July 28 20% 20% Public Bank 6.5% June 24 July 28239 words
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495 1977-07-25 6 THE Kuala Lumpur Stock Exchange has told Faber Merlin Malaysia that tt is not a party to its proposed sale of 9.64 million shares In Pahang Consolidated to Mars Finance. The KLSE made the statement last Friday in response to an earlier statement495 words
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Article35 1977-07-25 6 THE following company meetings are due: Fraaer Neave Ltd.: July 29, 12 noon, OCBC Centre (19th Floor), Chulia Street, Sinßapore. Oriental Holdings Bhd.: July 29, 3.30 p.m., Registered Office, 73 Beach Street, Penang.35 words
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Article2492 1977-07-25 6 It77 High Lmm o LmC Sale Weak ♦ar(fc's Dfe Dtv O Gfs YH Net P/E Weak Vel Coat) Week High Lew 8ECT10N ONE INDUSTRIALS 154 204 96 230 101 198* 169 223 396 171 136 172 58 212 57 155 152 182 350 145 Ac2,492 words
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Page 6 Advertisements
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INTERNATIONAL STOCK MARKETS
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Article435 1977-07-25 7 TOKYO: Share prices continued to decline on Saturday, led by export-oriented stocks leading the way, extending a sharp fall at Friday's close, dealers said. The Dow Jones average declined 21.78 to close at 4,928.96 with volume 120 million shares. The New Index cloeed at 371.86, down 1.27. Among automobiles435 words
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Article278 1977-07-25 7 AMSTERDAM: The market closed firmer on Friday after a very quiet session. Royal Dutch led Dutch internationals 1.90 guilders firmer although Philips was unchanged. Elsewhere banks and most insurances, trading and industrial stocks firmed, shippings were mixed while KLM rose 2.50. Among Isolated losers were Eania which fell 0.20278 words
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Article264 1977-07-25 7 FRANKFURT: Shares cloeed a mostly higher due to the steadyof the dollar, bourn sources on Friday. Most shares gained upto one mark but In autoe Mercedes Hoidtog gained IJO and VW two marks although Daimler lost 1.60 marks. Public authority bonds gained upto 0.25 marks with the regulating authorises264 words
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Article154 1977-07-25 7 MILAN: The market closed Irregularly lower on light profittaking in very quiet trading, dealers said on Friday. Fiat, Pirelli SPA, Snia Viacoaa and Montedison, both Olivetti all eased although Pirelli and Ante were slightly higher. Assicuraxioni General! was unchanged In mixed Insurances, while Bastofi firmed in lower finaneials. Mediobanca154 words
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Article316 1977-07-25 7 PARIS: The market vu firmer on balance at the beginning of the new account on Friday encouraged by the raising of export credit cellngs for small firms, dealers said. Chemicals and constructions firmed, while banks, oils and electrlcals were mixed with a higher bias and engineerings and metals easier.316 words
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Article268 1977-07-25 7 ZURICH: Trading was Irregular on Friday and among banks, Kreditanstalt recovered slightly, but stayed below the 2,000 franc mark, dealers said. Bally rose on considerable buying interest. In other financial Forbo rose in more active turnover. Buehrle bearer and Haslsr also rose, but laterfood declined. Among otherwise steady lndustrials,268 words
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Article351 1977-07-25 7 JOHANNESBURG: Gold shares were quietly steady at slightly lower levels on Friday with operators holding present positions ahead of the weekend, dealers said. Financial minings eased marginally In subdued trade, while elsewhere, Da Dim was unchanged at 488 cents. Asbestos counters drifted lower In generally quiet and unchanged metals351 words
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Article308 1977-07-25 7 TORONTO: The market closed lower in moderate trading on Friday. The composite index fell more than three points and declines led advances 220 to 189. A 14.8 point drop in the metals Index reflected declines in lace A, down 1* to 25* and Neranda A, off Vt to 27*.308 words
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Article1175 1977-07-25 7 NEW YORK: The stock market advanced for the sixth consecutive session on Frldaj buoyed by Its own momentum and by optimism over a reduction In US money supply Trading was active. "There were no visible short term excuses to prevent this rally from continuing," Mr. Anthony J Correra1,175 words
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Article1368 1977-07-25 7 On July 22 TRADING on the Chicago Board Options Exchange came to 78,227 contracts on Friday compared with 100,463 contracts on Thursday. OPTION OCT JAN A PL STOCK Alcoa 90 9 1/3 UNTRD UNTRD 94 1/2 Alcoa ao 3/4 1 0/10 2 94 1/2 Am Exp 351,368 words
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Article74 1977-07-25 7 FINANCIAL TIMES INDUSTRIALS Friday 431.5 Thursday 433.® Week Ago 453.7 DOW JONES AVERAGE INDUSTRIALS Friday 923.42 Thursday 921.78 Week Ago 905.95 LONDON DOLLAR PREMIUM Friday Ill* to 111% Thursday 111H to 111% H.E. HANG SENG Friday 419.30 Thursday 422.48 Week Ago 431.31 SYDNEY INDUSTRIALS Friday 371.75 Thursday 373.18 Week74 words
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Article557 1977-07-25 7 NYT ANY sort of rally Is welcome In Wall Street these days and last week It was an earnings rally, that swept Into the New York Stock Exchange. The Impetus for the recovery came from a string of better-than-expected profit reports from a number of companies forNYT - 557 words
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Article266 1977-07-25 7 AFP THE summer vacation mood seemed to have settled on the Tokyo Stock Exchange last week. The market followed an unpredictable pattern of up In the morning and down In the afternoon sessions. Turnover averaged 190 million shares per day against 290 million In the previousAFP - 266 words
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Article204 1977-07-25 7 Reuter MANILA, Sun. Universal Oil Corp has signed a sevenyear contract to produce a cheap local substitute for imported bunker fuel for use at Marlnduque Mining and Industrial Corp's cement plant at Antlpolo, east of Manila. The company said the mixture, "Unloll," consists of crude oil,Reuter - 204 words
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Page 7 Advertisements
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Advertisement65 1977-07-25 7 MONDAYS, WEDNESDAYS and FRIDAYS from Singapore. TUESDAYS and SATURDAYS from Bangkok. :<• *4 4 ■»> y r l vV v KLM friendly, helpful, efficient, reliable. The sort of airline you'd expect from a wonderful country like Holland. KLM ROYAL DUTCH AIRLINES G2 Mandarin Hotel Arcade. Orchard Road. Singapore 9. Tel:65 words
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COMMODITY REPORTS AND PRICES
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Article211 1977-07-25 8 LONDON. Sun. Terminal rubber ruled steady In early afternoon trading on Friday, but the market eased below the session's highs towards the close under Kradic Jobber and out»r profit-taking to finish uncertain after steady. Oalns from Thursday night ranged from 0.60 pence (near Aug at 51.75 pence)211 words
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Article152 1977-07-25 8 THE Straits tin price in Pen an g on Saturday rose $6 to $1 585 per plcul on an official unchanged offering of 185 tonnes. In LONDON on Friday, tin on the day advanced by £100 for Cash and £77 for Three Months In standard metal while high152 words
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Article266 1977-07-25 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY Coconut Oil: Bulk $87V, sellers, old drum $92 Vi tellers, new drum $87 W sellers. Copra: Mixed (loose) UK/Cont. $81 buyers. Pepper Muntok ABTA white f.o.b. 100H NLW $400 sellers. Sarawak white f o b. 90S NLW266 words
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Article72 1977-07-25 8 C.X.F. Rotterdam prices quoted in London on Friday In US dollars per ton Friday Prev. Malaysia 5% (fa bulk unq unq Sumatra 5% July Unch SlOpd Aug 555slr 545/550pd 527 50/535pd Sep 552.50slr531pd 515/52Spd Oct 525slr 507.50/5 lOpd Jan unch 470/465 pd Nigerian 5% (la bulk sterling per72 words
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Article42 1977-07-25 8 LONDON, Sun. Lead closed on Friday with losses of £3 for Cash and £2.25 for Three Months. Values were well maintained in modest two-way trading although some proflt-taklrw pared prices In the final stages. Sales of 3250 tonnes were mainly carries.42 words
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Article36 1977-07-25 8 LONDON, Sun. Zinc finished with gains of £0.50 for Cash and £1 for Three Months on Friday. The market lacked fresh feature but held basically steady In sympathy with copper. Sales were only 1500 tonnes.36 words
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Article503 1977-07-25 8 Source: Swiss Bank Corp. Zurich IN the Singapore market on Saturday, gold opened at $11,484 and closed at $11,495. In the London market, the metal opened at U8$144.60/145.00 and closed at US$144.95/145.15. Trading was quiet. Source: Singmaa In LONDON on Friday, gold closed higher at US$144.50/145.00 an ounce comparedSource: Swiss Bank Corp. Zurich - 503 words
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Article356 1977-07-25 8 BANGKOK, Sun. The government and commercial sectors were quiet In the past week, trade sources said. Foreign trade department sources said the government approved In principle the sale of 40,000 to 50,000 tonnes of rice of various grades to Malaysia for delivery next year. Prices will be discussed later356 words
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Article279 1977-07-25 8 LONDON, Sun. Futures closed £3.50 higher In the near August position and the rest of the market showed gains of £2 to £0.90 per tonne on Friday. Sales totalled 2391 lots. Market sources said the near August position, which expires next Thursday, continued to attract shortcovering prompted by the279 words
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Article48 1977-07-25 8 July 18 July 19 JulyjO July 21 July 22 July 23 •Till: 81 .MO •l.sas 11,500 11.963 11.869 81.566 Tonne: 1M 190 206 196 186 186 tRubber(S» 192.75 193.25 195.50 194.50 194.75 t Rubber (M) 1«3.75 194.23 196.25 196.25 196.75 per plcul fcenU per kilo48 words
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Article285 1977-07-25 8 LONDON. Sun. Copper wire bars on Friday showed gains of £6.50 for Cash and £7 for Three Months. The market hardened further on end-week covering prompted by the steady trend at New York and the continued buoyancy of the gold price, dealers said. Three Months traded up to £744285 words
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Article162 1977-07-25 8 LONDON, Sun. Silver on Friday closed with gains of 1.1 to 0.9 pence. The market was steady reflecting the New York trend and the continued firmness in gold, dealers said. Three Months traded finally at 272.3 pence with sales of 76 lots about half carries. In NEW YORK on162 words
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Article175 1977-07-25 8 CHICAGO, Sun. Wheat futures finished a lightly traded session with gains of to 2* cents a bushel on Friday. Prices stayed within a three cent range as early gains were posted on speculative support on Initial advances In soybean futures and professional buying. A decline in beans and commercial175 words
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Article203 1977-07-25 8 CHICAGO, Sun. Soybean futures closed mostly lower on Friday, finishing with a gain of 5% cents a bushel In the August but losing seven cents In September and 2* to five cents in other months. Trading was light through most of the session, with prices rising initially on speculative203 words
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628 1977-07-25 8 BY AND large trading remained listless at the Singapore produce market last week as dealers withdrew further Into the background for want of a clearer lead overseas. Fresh acceptances were therefore scarce and restricted mainly to neighbouring countries' and local consumers' accounts. For628 words
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Article247 1977-07-25 8 LONDON, Sun. Terminal cocoa lost substantial ground in extremely active afternoon on Friday trading to close weak with losses from Thursday night of £98.50 to £136 per tonne. The movement, taking in a mid-afternoon £40 limit decline In 1978 positions and an extended limit call to the close, followed247 words
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Article365 1977-07-25 8 LONDON, Bun. Futures fluctuated for much of Friday afternoon under local shortcoverlng and profittaking. dealers said. The close was Irregular £62 lower, as In Spot, July, to £8 higher. Volume was 4537 lots Including 30 options. In the resale robusta market faq grade Ugandas were nominally Indicated at an365 words
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MONEY AND EXCHANGES
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Article140 1977-07-25 8 DESPITE the dollar's recovery after a cut In German and Swiss lombard rate and bank rate the previous week, the mark remained strong and closed at 2.2557-87 against the US dollar last week after opening at 2.2810-20 level. Most dealers still attribute the unit fall to concern about US140 words
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Article46 1977-07-25 8 ACBT cv. Firat Chicago AlnncH Bank C*t Citibank €V, Bangkok Bank 7 HSBC m M «•>. Biak of Chiaa 7 «H Baak ot Tokyo Mittuj Baak 6V, Bank Necara OCBC «v. ladooaaia 7 OUB rkarlaml Baak UCB 7 fkut Ik UMBC 7 DBS UOB46 words
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Article220 1977-07-25 8 Asian rates RATES tended to show signs of easing marginally last week with offers coming in the middle across the board. Lack of taking Interest by good names in quiet market attributed to this soft tendency. Figures released show Ml falling by $1.7 billion and business loan demand also falling220 words
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Article290 1977-07-25 8 THE Interbank market was In a fairly surplus position last week until the close of trading on Thursday. The reversal in the position was attributed by certain market sources to the fear of a tightening In the money supply following selling pressure of the UBB against The position290 words
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Article202 1977-07-25 8 NEW YORK Sun. The dollar closed lower again on Friday after an active morning and very quiet afternoon, dealers said. The fall stemmed from fundamental concern over U8 trade deficits but was accelerated by Treasury Secretary Michael Blumenthal's remark he believes the necessary dollar fall has happened but202 words
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Article465 1977-07-25 8 Source: Swiss Bank Corp. Zurich ZURICH, Sun. The foreign exchange markets stood under the Impression of continued sharp losses of the dollar, especially against the D-mark and the Swiss franc last week. On Thursday, the dollar/ Dmark rate fell to an all-time low of 2.2550, compared with 2.2885 theSource: Swiss Bank Corp. Zurich - 465 words
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Article183 1977-07-25 8 Euro rates LONDON, Sun. Eurodollar deposit rates closed little changed from opening levels on Friday In light trading ahead of the weekend, although the day to day rates softened In places during mid session, dealers said. Little Influence from the US money supply data was reported. Time deposit rates closed183 words
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Article220 1977-07-25 8 LONDON, Sun. The dollar drifted lower on Friday in thin trading to close around 2.2570/80 marks against its opening 2.2623/33, dealers said. The unit softened in featureless trade in the morning but nervous selling in a thin market weakened the US unit in afternoon business. Remarks by US Treasury220 words
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Article33 1977-07-25 8 FRANKFURT exchanges closing quotes on July 22. US 2.2575/ 85 Can 2.1295/1305 UK 3.880/895 Neth 93.45/50 Swltz 94.25/30 Italy 2.560/565 France 46.80/88 Japan 0.8515/30 Belg com 6.44/45 Belg fin 6.38/40 Norw 43.135/16033 words
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Article55 1977-07-25 8 Source: Astley Pearce O/N rates were down to 2W Kcent by the middle of t week, but towards weekend, a slight upturn was seen. Terms rates followed In sympathy with the O/N. The ones, twos and threes eased slightly before firming back again to close 4 3/8 1/4,Source: Astley & Pearce - 55 words
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Article40 1977-07-25 8 FOR the week ended Friday July 22 the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND 4*% to 6% GENERAL FUNDS 3*S to 5%% Movements of funds totalled $414 million.40 words
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Page 8 Advertisements
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Advertisement316 1977-07-25 8 m Penguin ii IN PENGUINS Li Yukio Mishima firmly upheld the traditions of Japan's imperial past, which he believed were being slowly eroded by Western materialism. Disillusioned he astonished the world* in 1970 by committing hara-kiri or ritual suicide by disembowelment. One of his last works, Runaway Horses, is now316 words
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Article, Illustration1784 1977-07-25 9 RICHARD COLE - ALL th« baby superstar wanted was to have her ears pierced.. but now Tracy is part of a ball game that can give her an Elizabeth Taylor-type fortune. Chris Evert, fit £98 ($411) an hour, spends £800 ($3,380) on a dress and Martina Navratiiova1,784 words
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Article, Illustration610 1977-07-25 9 S. TANAKA and K.S. Wang combined superbly to snatch the SICC Captain's Day "A" division title at the New Course yesterday. Three pairs Tanaka and K.S. Wang, E. Yeo and A.L. Tan ana Tamal and T.P. Ling all registered 42 points in the stableford competition. StephenPic by FRANCIS ONG. - 610 words
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Article, Illustration334 1977-07-25 9 TOMMY Young, director of an advertising agency, had a great weekend, winning two major titles at the Warren Golf Club. On Saturday, he bounced back from the brink of defeat to win the Club title, and yesterday he coolly walked away with the Apollo Cup. Tommy,334 words
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Article249 1977-07-25 9 WAITANGI, Sun. The British Lions, with no midweek game before next Saturday's Third rugby union Test against New Zealand In Dunedln, arrived nere today for two days of relaxation. The Test team will be announced on Tuesday and there will be a morning training session for those249 words
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Article267 1977-07-25 9 UPI LONDON. Sun. Geoff Boycott's three-year selfimposed exile from International cricket ended today when the England selectors Included the Yorkshire opening batsman In the 12-man squad for Thursday Third Test against Australia at Nottingham. Boycott, who replaces his old partner Dennis Amiss, Is one of four changesUPI - 267 words
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Page 9 Advertisements
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Advertisement18 1977-07-25 9 K THE LEADING MENSWEAI TAILORS STORE OUTFITTERS HIQH ST CENTRE OCEAN BUILDING SUPREME HOUSE •GOODWOOD, HILTON,RAFFLES HOTELS*COLD STORAGE18 words
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353 1977-07-25 10 THE growth of the Singapore merchant fleet to over five million gross tonnes by the end of 1975 has made It the sixteenth largest In the world. This was disclosed by Mr. Chua Chor Teck, president of the Singapore Association of Shipbuilders353 words
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565 1977-07-25 10 INVESTMENTS of between $20 and $25 million are likely to be made In Singapore by four Norwegian manufacturing companies Interested In setting up here. It Is understood the projects, If finalised, will treble the present size of Norwegian Investments here, which come to565 words
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742 1977-07-25 10 DESPITE the greater penetration of television into homes, the cinema industry appears to be holding its own well. Against a 10 pet cent increase in total seating capacity over the past 10 years, attendances have doubled. This increase is good considering the fact742 words
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Article230 1977-07-25 10 Reuter MANILA, Sun. The Times-Journal newspaper today urged the reconvening of stalled Phlllp-plnes-Unlted States negotiations over the future of American bases here In an effort to remove Indochlnese suspicions of Asean. In an editorial, the newspaper said that the latest warning about Asean in aReuter - 230 words
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Article198 1977-07-25 10 Reuter MANILA, Sun. The Asean Federation of Food Processing Industries (AFFPI) today proposed the establishment of a regional "grain storage" to help cushion the Impact of rising prices, a spokesman said. The proposal was made during the AFFPI's organisational meeting In Manila where Asean delegates took upReuter - 198 words
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250 1977-07-25 10 UPI NEW DELHI, Sun. The United States Deputy Secretary of State, Mr. Warren Christopher, Indicated over the weekend that his country Is prepared to resume economic aid to India, which stopped six years ago. Mr. Christopher, who arrived In theUPI - 250 words
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Article68 1977-07-25 10 Reuter NEW YORK, Sun. Irving Trust Co expects the market to carry the dollar towards 2.20 marks In the near-term despite positive factors for the US unit, vice president Anne Parker Mills said. Miss Mills said In the bank's "Foreign Exchange Market Trends," however, that should theReuter - 68 words
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166 1977-07-25 10 Reuter NEW YORK, Bun. The IMF should adopt new approaches to developing countries because its classic shorter-term corrective policies are not always appropriate to their problems, Bankers Trust executive vice president Oarlos Canal said. Leaders In developing countries understandably fear very harsh stabilisation policiesReuter - 166 words
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173 1977-07-25 10 Reuter BRUSSELS, Sun. Demand for industrial goods within the EEC remains sluggish with surplus finished products and short domestic and export order books, the EEC Commission said In its monthly survey. Industrial leaders are less hopeful for production prospects over the next four months thanReuter - 173 words
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Article56 1977-07-25 10 A CONSTANT rapport between the Singapore and Malaysian governments to desirable as this will augur well tor the future of Asean. This was voiced by the leader of the Malaysian branch of the Commonwealth Parliamentary Association, Tim Rals Yatlm, the leader of a 15-member team which arrived56 words
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237 1977-07-25 10 CARGO THROUGHPUT at the Container Terminal saw an apt urn of IS per east in May to 454,300 tonnes, the highest volume since January this yoar, according to the Port of Singapore Authority in its latest monthly publication. Maritime Trade.237 words
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Article256 1977-07-25 10 Reuter HAMBURG. Sun. The I West German shipbuilding federation has claimed that Japan had an unfair competitive advantage In the ship construction Industry because the yen was under- i valued and the mark overvalued. i The federation, in a press < release, claimed the in- i crease inReuter - 256 words
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Article585 1977-07-25 10 ARRIVALS Service Operator Number Local Time Prom CPA BAB MAS CPA OIA THAI 8IA OIA OIA PAL RBA CX003 8K097 MH082 CX710 GA960 T0423 8Q211 OA944 OA906 PR501 RI325 0145 0640 0610 1000 1090 1036 1045 1055 1100 1115 1155 HKO CPH/THR/BKK KCH HLP HLP BKK HLP585 words
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Page 10 Advertisements
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Advertisement85 1977-07-25 10 FOR SALE LOGGING CONCESSION W. MALAYSIA (Sawmill licence pending) An established Malaysian-re-gistered Company with 100% ownership of a 35,000 acre forest concession in Kelantan Is for sale. The concession expires In 1992 and todate very little has been logged. A sawmill licence has been applied for and approval is expected.85 words
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Advertisement354 1977-07-25 10 ?\~_?})[};>[="?^$_".+~{>~__^[:< Corporate Banking Services in the Far East w hint s> Opera mask Irum tin Pti-(nf I> na\n ov/o" I his mask was used as a i;uitJi U>r /at c-[>amnm Wardlcy Limited carries out merchant banking activities in the, Far East. Based in Hong Kong, Wardley provides banking, advisory and354 words
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