The Business Times, 8 August 1977

Microfilm: NL9344
Total Pages: 10
1 10 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1 m MONDAY, AUGUST 8, 1977 SOCENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Nuclear talks resume
      103 1 UPI TEHERAN, Sun. Iran and the United States resume talks in Washington tomorrow on the possible supply of eight nuclear power reactors to Iran, an Issue that has become crucial to relations between the two countries. At stake, say Iranian sources, Is not only the nuclear deal,
      UPI  -  103 words
    • Article
      Lock icon Black struggle
      63 1 AP SAN FRANCISCO, Bun. American companies that invest in South Africa and Rhodesia hinder the struggle for black majority rule in those countries, Tanzanlan President, Mr. Julius Nyerere, said over the weekend. Mr. Nyerere said Investment by U8 firms in South Africa "has been Increasing very fast in
      AP  -  63 words
    • Article
      Lock icon Quake in Hokkaido
      79 1 UPI TOKYO, Sun. A volcano erupted on Japan's northern island of Hokkaido today, thrusting a towering column of black smoke and volcanic ash 10,000 metres into the air and pelting nearby areas with rocks the size of a human fist.. Police ordered 20,000 tourists to evacuate the
      UPI  -  79 words
    • Article
      Lock icon Libya switch
      73 1 UPI CAIRO, Sun. Libya is planning to launch guerilla operations against Egypt, but will avoid a repetition of head-on military clashes between the two countries, the weekly magazine Rose ElYoussef said. The Libyan plan is being prepared with the help of Palestinian guerillas from the so-called Rejection Front,
      UPI  -  73 words
    • Article
      Lock icon Iran's new premier
      76 1 UPI TEHERAN, Sun. The Shah today appointed Iran's oil negotiator, Mr Jams hid Amouzegar, Prime Minister. He succeeds Mr. Amir Abbas Hoveyda who resigned on Saturday. Mr. Amouzegar, 54, went to the Shah's summer palace on the Caspian Sea to present his Cabinet, government sources said. Mr.
      UPI  -  76 words
    • Article
      Lock icon Cracks in aircraft
      67 1 Reuter LONDON, Sun. British Airways today decided to modify a wing Joint In 1U fleet of 25 Trident Three aircraft* alter a routine Inspection discovered hairline fractures in the wing span of one plane early this week. In a statement the airline said that subae3uently cracks were
      Reuter  -  67 words
    • Article
      Lock icon China strike
      62 1 UPI TAIPEH, Sun. Over 40,000 factory workers In a city In south-east China destroyed factory facilities and other government property In a riot demanding wage raises In late May, Nationalist Chinese Intelligence sources said yesterday. The source said that on May 25, more than 40,000 workers in Nanchang,
      UPI  -  62 words
    • Article
      Lock icon Panama progress hailed
      62 1 UPI BOGOTA, Sun. The heads of state of six Caribbean and Latin American countries yesterday hailed the progress In US-Panama negotiations for a new Panama Canal Treaty and praised President Carter for his "comprehension" of the issue. They also announced they had established a permanent "mechanism of
      UPI  -  62 words
    • Article
      Lock icon Taiwan's GNP up 9pc
      50 1 AP TAIPEH, Sun. Oross national product In the first half this year grew by 8.97 per cent In real term to U559,328.9 million (5122.4 billion) the government reported today. Per capita Income in the January-June period reached $435.9 up 11.62 per cent, official statistics showed. AP.
      AP  -  50 words
  • Article
    TOP TEN STOCKS
    110 1 THE following list of stocks gives the 10 most traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units, closing prices on Friday and the high and low for 1977. Company Turnover Prices High Low '000 Aug 5 1877
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  • LOCAL STOCK INDICES
    • Article
      SINGAPORE
      64 1 Aacl Aug 2 A«1 Aa«4 Aag! tt B.T. Index: 394.23 399.33 394.06 397.74 402.64 Industrials: 263.72 264.44 263.91 264.36 264.47 Finance: 446.10 444.66 443.73 444.77 444.46 Hotels: 165.64 166.99 165.96 166.92 166.14 Properties: 109.01 170.02 169.96 170.45 170.29 Tins: 112.73 113.19 113.73 114.61 115.14 rubbers: 340.02 347.17 346.31 350.27
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    • Article
      MALAYSIA
      82 1 Aafl Aug 2 Aug S Aa«4 Av«S tt B.T. Index: 399.80 403.12 390.19 399.17 402.82 Industrials: 291.13 291.93 291.38 291.82 282.82 ft Finance: 382.17 380.01 378.94 379.88 383.83 Hotels: 173.65 173.88 174.18 173.98 173.88 Properties: 157.34 158.06 158.34 187.74 188.34 t Tins: 110.80 118.33 120.01 120.41 121.87 t rubbers:
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  • Article
    Fukuda's pledge on Vietnam ties
    928 1  -  POST-ASEAN SUMMIT TALKS ■y QUEK PECK LIM in K. Lumpur JAPANESE Prime Minister Takeo Fukuda has assured Asean leaders that his country's relationship with Vietnam will be subordinated to its relations with the association. Conference sources who were present at the meeting yesterday afternoon said
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  • Article
    PROJECT STUDIES
    84 1 ASEAN officials have agreed that future Asean Industrial projects should not be announced unless prefeasibility studies have determined the viability of proposed projects. Tney have also agreed that whatever industrial projects proposed for regional economic cooperation should not be announced until firm market support have been reached by
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  • Article
    Fraser offers no new concessions
    893 1 PRIME MINISTER Malcolm Eraser of Australia offered no new initiatives or concessions on the quesUon of trade and tariff barriers In his three hour discussion with the five Asean heads of government. It Is believed that the Australians had Initially proposed a draft communique which
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  • Article
    Our trade deficit with Saudis is highest
    443 1 AMONG 1U major trading partners, Singapore's largest trade deficit was with Saudi Arabia last year. In 1976, Its trade deficit with Saudi Arabia, the largest supplier of crude petroleum to the Republic, wai <3.34 billion. Japan was next with II .92 billion. This,
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  • Article
    DBS rate hike may spark off another round of increases
    289 1 PRIME RATES may soon So up again if the '/«-point icrease by Development Bank of Singapore from today is anything to go by. Though DBS' action bring* its prime rate, at 6 M per cent, in line with the current
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  • Article
    Eurobond
    24 1 FRANKFURT, Sun. Primary bond market sources said they expect Malaysia to float a DMIOO million Eurobond, managed by Deutsche Bank around August. 25.
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  • Article
    Joint venture accord will kick off petro project
    425 1 THE SINGAPORE Government and the Japanese holding company. Japan Singapore Petrochemical Company (JSPC), will sign the Joint venture agreement for the establishment of the $1 billion naptha cracker plant during the visit of Japanese Prime Minister, Mr. Takeo Fukuda, to Singapore on
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  • Article
    New Carter move on steel prices
    154 1 WASHINGTON, Sun. US President Jimmy Carter, who fears steel price Increases may fuel Inflation, is stepping up pressure on the Industry, hoping to keep some companies from Joining the latest round of price hikes. Mr. Carter ordered the council on Wage and Price Stability
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      23 1 r Ricoh I for plain paper copying *****33 Df Wywy Private Limited |HV a resporuibi* company 39th Fk>or Hong Ltong Building Singapore 1. }.{(`>|=>'"^&[!}<]+-:]&??`"+*+{
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      Page 1 Advertisements Column 2
      117 1 NCD? ACBC makes it easy. When you require Negotiable Certificates of Deposit, you'll find it easy to talk to the people at ACBC. ACBC offers high interest rates on NCD's, for minimum deposits of $100,000, on fixed periods of not less than 3 months. ACBC has the resources, experience and
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      0 1 >:$]"]){,=*[=.?}.<@}+=[=&~"(!<:
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      Page 1 Advertisements Column 4
      131 1 NOW Cool healthy pollution free dmnng is POSSIBLE •rtftdlAßUEnU PUREACE AIR PURSER JAL FLIGHT 712: THE TOKYO EXPRESS I NEW YORK VANCOUVER "WSAN 1 FRANCISCO LOS 1 ANGELES I (HONOLULU 1 SINGAPORE >1 SH JTSI MEXICO CITY Only on JAL can you non-stop to Tokyo, then make convenient connections to
      131 words
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  • REVIEWS
    • Article
      SOUND OPTIMISM
      632 2 The doom watchers in Singapore have looked at the long faces In the shipbuilding Industry and the retrenchments In some calculator companies and are predicting that Singapore may soon have to face high unemployment and economic sionBut then, the Industrialists, who by now ought to know what they
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    • Article
      Lock icon Mass output takes over from masterpieces
      957 2  -  ART By NORRIS WILLATT FT PIETRASANTA, (Italy): In this region In the foothills of the Apu&n Alps, where Michelangelo came seeking marble from which to Carve such masterpieces as "David" and '"Pleta", his modern counterparts are in short supply. Master sculptors of the future,
      FT  -  957 words
    • Article, Illustration
      Lock icon Closing the doors left open by Mozart
      1352 2  -  MUSIC By DONAL HENAHAN NYT NEW YORK: Some people have a greater need than others to finish things. When they are around, doors get closed, bank accounts get balanced, new bulbs get put In lamps. The finisher finds It almost Impossible to put
      NYT  -  1,352 words
    • Article
      Why Janacek wasn't a hit
      595 2  -  By CKT WERE not there concretesouled and rat-racing businessmen enough at the time of the First World War? There must have been, which makes it difficult to understand why Janacek's music tough, sinewy, unsentimental never caught on in the Composer's lifetime. Fellow countrymen Dvorak and
      595 words
    • Article
      Lock icon The tormented mind of the British Raj
      873 3  -  BOOKS By JOHN LEONARD NYT The Raj Quartet. The Jewel in the Crown. The Day of the Scorpion. The Towert of Silence. A Division of the Spoils. By Paul Scott. 1,925 pages. Morrow USS22 SO. Staying On. By Paul Scott. 216 pages. Morrow.
      NYT  -  873 words
    • Article
      Lock icon Case of nuclear boredom
      666 3 NYT The Silent Bomb: A guide to the nuclear energy controversy. Edited by Peter Faulkner. With a foreword by Paul H. Ehrlich. 382 pages. Illustrated with diagrams. Random House. Hardcover, USt 10.95; paperback, $3.95. THE Silent Bomb: A Guide to the Nuclear Energy controversy displays on
      NYT  -  666 words
    • Article, Illustration
      ONE MAN'S WEEK
      1432 3  -  By TAN SOO KHOON Mr. TuuMP for Alexandra. SUNDAY: I wake up unusually early for a Bunday morning, 8.45 a.m. to be precise as the alarm clock ws set one hour earlier than Intended. A quick run through the morning newspapers then I go through a speech
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    • Article
      Lock icon Exposing the scarcity myth
      409 3 NYT Food First: Beyond the myth of scarcity. By Frances Moore Lappe and Joseph Collins, with Cary Fowler. 412 pages. UStIB.9S.° n DURING the famine of 1974 we are told here, the African Republic of Mall Increased its exports of peanuts. In Bangladesh, thousands of tonnes
      NYT  -  409 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      202 2 SEE PAGE 4. IBJ The Bank for 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
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      74 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Aug 7 at Singapore airport. Maximum Temperature 30.0° C Associated Humidity 72 Minimum Temperature 21.8° C Associated Humidity 99 Hours of Sunshine 4.40 Rainfall in Millimetres 10.8 Total Rainfall for the Month 51.6 Total Rainy Day* for the
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      297 2 SINGAPORE 5 3.00 PM Opening announcements followed by Valai Pirai (TamilRepeat)* 3.30 Diary Of Events (Tamil) 3.40 The World About Us In The Shadow Of The Falcon*, 4.30 Intermission 6.00 Opening announcements followed by the Wild World Of People* 6.30 News in Brief* 6.35 Anda Dan Jalan Raya* 6.50 Accent
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    • Miscellaneous
      Page 2 Miscellaneous Column 3
      609 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 3 Flat It takes pounds and pounds to keep a woman In! (S) 8 Man of iron, perhaps, black-hearted (5) 10 Bolt a plate while It's hot (5) 11 Burn out a wrecked tug (3) 12 It just goes to show (5) 13 Poet whose
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      206 3 Until You See Your Dream Home 'Nassim Mansion' Swimming Foot in front of Pine Lodge tr u as* 1 ~<*■ &■> 1 Xv. i"gMl I ->< < f •> 4. The only apartments with a GOLF COURSE, k /\AA/\ Olympic Class Swimming Pool, Tennis Court and many other beautiful features
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  • Article, Illustration
    Lock icon City of treasures and refugees
    897 4  -  By DAVID PEARCE UPI AMMAN, (Jordan): The Old Testament prophet Jeremiah predicted that ancient Ammon would become a "desolate heap." Ezekiel followed this up with a curse saving H would be made a stable for camels and occunled by Bedouins. The prophets were I believe
    UPI  -  897 words
  • Article
    Trade still keeping up the good work
    1564 4  -  By QUEK PECK LIM BROAD economic measures indicate that the Singapore economy is performing at about or at a slightly better pace than it did last year. Most statistics available are up to April or May but they ao indicate that trade, which
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  • Article, Illustration
    Lock icon Soviet boost for the private farmer
    1036 4  -  By CHARLES BREMNER Reuter MOSCOW: After many years of preaching the doctrine of collective agriculture, the Kremlin has mounted a campaign to boost private farming. The new-found support for a sector long dismissed as an unnatural hangover from the past comes not from Ideology
    Reuter  -  1,036 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      88 4 MITSUBISHI HIGH SPEED DIESEL ENGINES DEPENDABLE,DURABLE ECONOMICAL I Mf SI2NTK S6NTK SI 1 -4 SI6NTK for generating sets for marine propulsion units, ABS classed •250 to 1500 HP full technical spares and service back-up g Please contact: Manufactured by k MITSUBISHI HEAVY INDUSTRIES, LTD. of Japan MDUSTMAL AGRICULTURAL nSTRffiUTIONCO.PTELTD. (A
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  • Article
    Lock icon Cook reaches accord on US$310m credit
    338 5 Reuter MEMPHIS, Tenn., Sun. Cook Industries said It reached agreement with Its major banks on a maximum of US$3lO million In shortterm credit for the next year's agri-products merchandising operations, replacing existing Informal lines of credit. The company said to-date banks with commitments aggregating
    Reuter  -  338 words
  • Article
    Lock icon Midland's offer
    95 5 Reuter LONDON, Sun. Midland International Financial Services BV, a wholly owned subsidiary of Midland Bank, plans to offer US$5O million of 8% per cent guaranteed bonds, due 1992, in the Euro-bond market, Midland Bank said. The bonds will be guaranteed on a subordinated basis by Midland Bank. Managers
    Reuter  -  95 words
  • Article
    Lock icon 'No need for realignment of currencies'
    456 5 UPI PARIS, Sun. US and West German finance ministers yesterday said that the US dollar Is strong because the American economy is improving, and they see no need for changing the parity of any currencies. US Treasury Secretary Michael Blumenthal and West German Finance
    UPI  -  456 words
  • Article
    Lock icon Air controllers on strike in Canada
    125 5 AP OTTAWA, Sun. Canadian air traffic controllers walked off their Jobs at airports across the country today, a spokesman for the controllers' union said. Sources said some alrEorts were believed closed ut there was no immediate confirmation. Canadian transport officials said earlier a strike
    AP  -  125 words
  • Article
    Lock icon US$50m for China Steel
    101 5 Reuter HONGKONG, Sun. A US$5O million, seven-year loan at 1.25 per cent above the London Interbank Offered Rate Is being negotiated for Taiwan's China Steel Corp, a spokesman for Western International Capital Ltd said. The loan, which has been subscribed but has yet to be finally
    Reuter  -  101 words
  • Article
    Lock icon Centrais Eletricas
    72 5 Reuter FRANKFURT, Sun. A Centrals Eletrlcas Brasllelras 150 million mark Eurobond will have a provisional maximum 10-year life and its coupon is tentatively set at 7.25 per cent, lead manager Oresdner Bank said. Pricing will be around par and purchasers will have the right to redeem the bond
    Reuter  -  72 words
  • Article
    Lock icon Higher imports in May for industrialised countries
    357 5 Reuter WASHINGTON, Sun. The Industrial world's imports rose to US$6O.ll billion (S| 146.7 billion) In May from $58.6 billion in April, the International Monetary Fund said. The IMF said In its International Financial Statistics that a fairly large decline in US imports was
    Reuter  -  357 words
  • Article
    Lock icon Bundesbank may lower minimum reserves ratio
    359 5 Reuter FRANKFURT, Sun. The Bundesbank may pump more than DM3 billion into the domestic banking system around end-August through a five per cent cut In banks' minimum reserve requirements, Mr. Ernst-Otto Sandvoss, management board chairman of Deutsche Qlro-zentrale-Deutsche Kommunalbank (DOZ), said. This move is
    Reuter  -  359 words
  • Article
    Lock icon South Africa may cut dollar link
    215 5 Reuter JOHANNESBURG, Sun. South Africa Is to study the feasibility of establishing a foreign exchange market In which the rand would float freely and no longer be linked to the dollar, banking sources said. They were commenting on the announcement by Finance Minister Owen
    Reuter  -  215 words
  • Article
    Lock icon Citibank seeks participation in Zaire loan
    142 5 Reuter NEW YORK, Sun. Citibank N.A. Is actively seeking participation by major International banks in a $250 million term credit It is arranging for Zaire, Vlee President Mr. Hamilton Meserve said. He said In an interview, Citibank Is "cautiously optimistic" about developments In arranging
    Reuter  -  142 words
  • Article
    Lock icon Reed off to a good start
    168 5 Reuter LONDON, Sun. Pre-tax profit at Reed International for the three months ended June 30, 1977 rose to £20.5 million on sales of £394.5 million from £10.7 million on sales of £313.7 million previously. The pre-tax profit is after Interest charges of £9.7 million
    Reuter  -  168 words
  • Article
    Lock icon NSC agrees to price hike
    72 5 Reuter TOKYO, Sun. Nippon Steel Corp said It and other major Japanese steel mills have agreed to a base price increase of A 52.11 a tonne to $45.75 for New South Wales steel-making coal to be shipped from Port Kembla over the two years which
    Reuter  -  72 words
  • Article
    Lock icon GM-Holden strike over
    48 5 Reuter ADELAIDE, Sun. General Motors-Holden said it re-employed 500 workers at Its Elizabeth parts plants laid off earlier this week because of a strike by 54 key workers. The strikers voted at a meeting on Friday to resume work, after striking over a seniority dispute.
    Reuter  -  48 words
  • Article
    Lock icon United Tech to go ahead with offer
    110 5 Reuter HARTFORD, CONN.. Sun. United Technologies Corp, in response to an inquiry, said it plans to continue Its tender offer for Babcock and Wilcox shares despite a court ruling last Friday. Earlier, the Court of Common Pleas in Columbus, Ohio, suspended an order
    Reuter  -  110 words
  • Article
    Lock icon Griffin sale agreement
    82 5 Reuter BRISBANE, Sun. MIM Holdings said It agreed in principle to acquire Griffin Queensland Exploration N.L. for $8 million. A MIM spokesman said Griffin Queensland's main asset is the Newlands steaming coal deposit about 50 miles south of MlM's Colllnsvllle coal operation. He said the two deposits
    Reuter  -  82 words
  • Article
    Lock icon Coca Cola faces ban in India
    113 5 Reuter NEW DELHI, Sun. Indian Commerce Minister Mr. Mohan Dharla said his government is determined to ban the American Coca Cola Co from trading in the country, Samachar News Agency reported. Mr. Dharla told the Lok Sabha (Lower House) that Coca Cola had been
    Reuter  -  113 words
  • Article
    Lock icon New tap stock offer by Bank of England
    266 5 Reuter LONDON, Bun. The Bank of England announced a new £1 billion 12* per cent Treasury tap stock due 1994 priced at 96 per cent payable In Instalments. They are £15 per £100 of stock payable on application on Aug. 11, £40
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  • Article
    Lock icon BAC envisages X-11 deliveries in 1981
    184 5 Reuter LONDON, Sun. British Aerospace Corp (BAC) said Its present plan for development of the X-ll Airliner envisages deliveries starting in 1981 with an initial order book of around 50 aircraft. BAC is currently evaluating airline responses from Europe, the US, Australasia and Japan
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  • Article
    Lock icon A. Brands to buy Franklin stake
    109 5 Reuter NEW YORK, Sun. American Brands will acquire 5.77 million common shares of Franklin Insurance Co, owned by Continental Corp., for $30.50 each cash. American Brands and Continental Corp., said this Is about 27V4 per cent of Franklin's common stock. The agreement Is subject
    Reuter  -  109 words
  • Article
    Lock icon FTC credit probe
    169 5 Reuter WASHINGTON, Sun. Federal Trade Commissioner Elizabeth Dole said the FTC has voted "to undertake two Important new Investigations of credit practices." Miss Dole, who was speaking in Chicago and whose remarks were released here, said the FTC has directed its staff to conduct Industry wide Investigations
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  • Article
    Lock icon Thomson Brandt's colour TV plans
    72 5 Reuter PARIS, Sun. Thomson Brandt SA will begin production of 'portable colour television sets towards the end of this year, a company spokesman said. Thomson already markets portable colour sets In France under its own name but the materials are Imported ready-made from Japan. The
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  • Page 5 Advertisements
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      54 5 Taste the difference in TSINGTAO BEER! Tsingtao beer is distilled from the sparkling mineral waters of Mount Laoshan in China. There's abundantgoodness bottled u in Tsingtao... The goodness of the finest barley and hops and mineral waters. Come, taste the difference in Tsingtao beer. Available in all Emporiums in ftin
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      Page 5 Advertisements Column 2
      306 5 Give your data communications system a little goose and it'll put out ten times as much. Open up the back of any Data General com- in any proportion. They can handle anymunications system, pop in our single-board thing from one to sixteen lines, are fully DCU/50 Data Control Unit, run
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  • Article
    Strong recovery by Malayawata Steel
    580 6 AS EXPECTED, Malayawata Steel showed a strong recovery in the financial year ended March 31, 1977 from the very dreary situation in the previous twelve months. Aided by the recovery in world markets for steel and particularly by the protection afforded by the Introduction of
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  • Article
    Harcros expects more from HME stake
    645 6 OPPORTUNITIES for long term Investment In the Malaysian plantation industry through UK companies yielding franked investment Income have diminished with the transfer of residence of many companies overseas. However, according to Harcros Investment Trust chairman, Mr. Gordon O. Peake "Harrisons Malaysian Estates will continue
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  • Article
    BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 4, 1971 – 100)
    128 6 BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 4, 1971 100) lrn Hick Uw laduatrial Group Wmkm tttk ■dad «k Patau Change 210 59 496.57 164.62 228.39 294.16 219.47 715.93 139.03 131.85 110.50 390.96 297.66 145.90 362.92 135.80 181.16 221.37 175.47 423.12 116.47 87.13 81.36 272.24 187.36 Automotive Banks. Insurance,
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  • Article
    DIVIDENDS ANNOUNCED
    215 6 Current Ex Date Total far Total far payment Date payable the year previous year Oriental Holdings 9% July 26 Aug 10 18% 18% B. Sombawanc 20* July 28 Aug 15 20% 30% Riverview Robber Sanyo Industries 6%I July 27 Aug 15 n%i 10%a 12%TE July 20 Aug 16
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  • Article
    M. Credit settled tax dues on Aug 3
    172 6 MALAYAN CREDIT reached agreement with the revenue authorities in Singapore to pay $14.38 million In back taxes on Aug 3. "And the announcement was made on the same day," the company adds in reply to a query from the Stock Exchange of
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  • COMPANY MEETINGS
  • Article
    Share Information for the week
    2459 6 1177 Hlfk Lew 0-^ Last Sal* Week +mQr's Dtv Dfr Cn Qr's YTi Net P/E We* Vel C88»> W High «ek Lew SECTION ONE INDUSTRIALS 154 204 96 230 88* 198* lcV9 223 396 171 136 172 58 212 57* 155 152 182 350 145
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      176 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 who
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  • Article
    Tokyo
    464 7 TOKYO: Speculative* led the market higher to fairly active trading, deahra aald on SaturDow Jonea aver ace gained 20.18 to doaa at ft.Mo.fe with volume 300 million share*. Tbe New Index dosed at 377.70 Following a late rally on rriday, DleeeiUki roee to the dah'a high of 2300 to
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    Amsterdam
    270 7 AMSTERDAM: The market again closed higher, supported by Wall Street'a overnight recovery and some covering purchases, although trading remained quiet, bourse sources •aid on Friday Royal Dutch led Dutch Internationals higher. Elsewhere shares with gains between 1.00 and 2.00 guilders Included Bels, Fohker, Ennia and Ahold. Bijenkorf was very
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    Brussels
    170 7 BRU88EL8: Almost all Belgian aharea fell on lack of buying Interest ahead of the weekend in quiet trading, bourae aourcea aald on Friday. Exceptions were HatMlaaaa, Vlede M—tagaa and CBB which roee. Saflaa, Uaerg, FN. Ebea, Hitiha CeekaeiD. Trecbe* and Ualaa Mlalese all fell. Foreign atocka were all higher
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    Frankfurt
    284 7 FRANKFURT: Shares closed firm, although light profit taking limited price rises, market sources said on Friday. Banks moved higher led by Deutsche Bank AO, which rose 3.90 marks In continued reaction to Its latest Interim report which disclosed higher first half operating profits. Varta advanced 9.90 marks after Its
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    Milan
    162 7 MILAN: The market closed mixed to higher In more active trading, dealers said on Prlday. Flat, both Piralli and Olivetti, Montedison all closed higher as did Flnaidar on the official announcement of Its capital rise. Snia Vlscoaa was unchanged and Anic marginally lower against the trend. IFI prlvlledged was
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    Paris
    313 7 PARIS: Trading was mote active than In recent daya with the continuing dlaagreement among left wing partiee causing a firmer tone in almost all aectors, dealers aald on Friday. Conatructlona roae moat stiusigly while elsewhere Balat Gobain gained four par cent following Improved first half aalea. Americana and Oermana
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    Zurich
    278 7 ZURICH: The market closed very steady in light trading on Friday apart from Bally and Oarlikoa Buehrle In flnanclals which rose on active demand. A firmer trend In equities was Influenced by a buoyant bond market, dealers said. Major banks remained little changed except for higher Volksbaah. Insurances Improved
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  • Article
    Jo'burg
    345 7 JOHANNESBURG: Gold aharea were mixed on the stock exchange following a reversal by aelected laauea erf earlier loasss, dealers aald on Friday. Financial minings were easier but off the bottom In very quiet trade. De Beese moved ahead on US Interest to trade three cents up at 472. Coppers
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    Toronto
    281 7 TORONTO: The market cloeed higher In busier trading, with the composite index up more than four points and advances outnumbering declines by 232 to 162 on Friday. Among companies reporting Improved earnings Canadian Pacific InvaataMßta gained 3/4 to 18-7/8, McOraw-Hlll Ryerson Jumped one to 8-1/3 and Qolf Oil Canada
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  • Article
    New York
    1081 7 NEW YORK: An early stock market rally, inspired by a (low of favourable news fell victim to proftttaklng in the final hour and the session ended with a token gain on Friday Initial support was ascribed to Thursday nlfht's Federal Reserve report of a sharp drop In money
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  • Article
    Indices
    64 7 FINANCIAL TIMES INDUSTRIALS Friday 470.2 Thursday 464.9 Week Ago 440.2 DOW JONES AVERAGE INDUSTRIALS Friday 888 69 Thursday 888.17 Week Ago 890.07 LONDON DOLLAR PREMIUM Friday 108 to 108* Thursday 11 OS to 110% H.E. HANG SENG Friday 410.79 Thursday 414.12 Week Aco 417.88 SYDNEY INDUSTRIALS Friday 300.82 Thursday
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  • Article
    CHICAGO BOARD OPTIONS
    1252 7 On August 5 Trading on the Chicago Board Options Exchange came to 83,721 contracts on Friday compared with 75,174 contracts on Thursday. OPTION OCT JAN A PL STOCK Alcoa 90 17/8 8 38/4 40 8/4 Alcoa 00 1/10 3/8 7/8 408/4 Am Exp 35 UNTRD UNTRD UNTRD
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  • Article
    Lock icon Wall Street prices ease
    524 7 NYT AS WALL STREET peers ahead at what remains of a simmering summer, some stock market analysts pin their types on this rationale: wßat com down must come up." Essentially, Investors are still trying to assess the havoc wrought In the final week of July, when
    NYT  -  524 words
  • Article
    Lock icon Sydney interest in coal stocks
    322 7 Reuter NEWS of huge coal development plans brought interest to that section of the Sydney stock market last week, but the 1.5 per cent devaluation had apparently been discounted In trading fey other exporters, brokers < said. BHP early In the week j continued Its
    Reuter  -  322 words
  • Article
    Lock icon Strong gains in Tokyo
    202 7 AFP FUELED by an easing of margin requirements the previous weekend, the Tokyo stock market continued booming last week with the Dow indicator scoring the best weekly gain so far this year. The sole slight pause came last Thursday when prices closed on a mixed note,
    AFP  -  202 words
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      397 7 BUSINESS TIMES Airline Directory 110-112 Shew Centra, Orchard KoW, Siiifapw* 9 (Td: 377.111) Air C«yien C Ififif JUnniKl U Aiaa a rww nwvt w M <; ill »»WnHnl rr WW$ vVVMSBVTv \I CM: *****00) Air Franc* g l M Waw WiVVIM. IWB PHVMIN| vUVRIvII SinfofM 1 CM: *****11) Air India
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  • COMMODITY REPORTS AND PRICES
    • Article
      FOREIGN RUBBER
      205 8 LONDON, Sun. Terminal rubber closed uncertain on Friday afternoon, having fallen back in late trading from the day's highs. Gains from Thursday night ranged from 0.60 pence (near October at 63.10 pence bid) to 0.10 pence per kilo. Dealers attributed late session activity to weekend evening up and
      205 words
    • Article
      Straits tin
      155 8 THE Straits tin price in Penang on Saturday was down $20 to 31,637 per plcul on an official offering up 19 tonnes to 200 tonnes. In LONDON on Friday, tin on the day fell by £60 for cash and £40 for Three Months in standard metal and by
      155 words
    • Article
      Produce exchange
      279 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL ON RATURJOAY. Coconut Oil: Bulk *82 W sellers, old drum ttnVi sellers, new drum *92W sellers. Copra: Mixed (loose) UK/Cont *49 buyers. Pepper. Muntok AST A white f.o.b. 100% NLW 9400 sellers. Sarawak white f.o.b. 98* NLW *380 sellers,
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    • Article
      Palm oil
      69 8 CIF Rotterdam. U8 dollar* per ton Friday Pm. Malaysia 5H ffa bulk Aug/Oct 913 air 515 sir Sumatra 5* 542.SO sir 585 air Aug Sept Oct Nov Dec 517.50 qtd 40Oqtd 525/527.50 pd 502.50 sir 485 qtd 485 sir 495 air 485 sir Nigerian 5* ffa bulk uno
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    • Article
      Lock icon Gold
      507 8 Source: Swiss Bank Corp, Zurich ON the Singapore gold market on Saturdsnr, the kilo bar opened at 8111,575 and In quiet trading the market eased to cloee at 311.550. The loco London market opened at U*****.30/ 146.65 and in featureless trading the market closed at 146.10/ 146.40. Source: Sinpui.
      Source: Swiss Bank Corp, Zurich  -  507 words
    • Article
      Coffee
      288 8 LONDON, Sun Futures closed Friday slightly easier with losses of £282 to £195 per tonne compared with Thursday. Volume was 7,487 lots Including 36 options. The biggest loss was In November at £2,285 after a day's low of £2,260 but September met heavy dealer liquidation to finish £222 lower.
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    • Article
      Copper
      277 8 LONDON. Sun. Copper wlrebara on Fttdsy finished with tosses on the day of £7.50 for cash and £9 for Three Months. The market partially recouped earlier losses on modest shortcovering encouraged by the recovery in US futures, dealers said. Three months traded up to £696.50 per tonne on sales
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    • Article
      Rice
      291 8 BANGKOK, Bun. Trade sources said no new contracts were concluded either In the government to government or commercial sectors. Traders were reluctant to commit themselves as substantial quantities of rice have been sold, thev said. The ruling announced by the government last month that rice export sales should not
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    • Article
      Sugar
      126 8 LONDON, Sun. Futures closed £0.65 to £1.50 down In sales of 2,750 lots on Friday. In NEW YORK on Friday, world sugar futures were off 0.05 to 0.08-cent net shortly after midday on light preweekend selling. Commission houses were mostly sidelined. World sugar futures finished on a steadier note
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    • Article
      Cocoa
      119 8 LONDON, Sun. Terminal cocoa sold off in reasonably heavy afternoon trading to close easy at around the day's lows, £30.50 to £60 per tonne lower on balance. Morning gains were wiped out and replaced by substantial losses as chartist and Jobber selling and long liquidation built up In Increasing
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    • Article
      Soybeans
      205 8 CHICAGO, Sun. Soybean futures declined In early dealings on Friday and around mldsesslon, the August was off nine cent* a bushel while new crop months were off one to five cents. Local and commission house selling pressed price lower, although commission house buying in the November was a supporting
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    • Article
      Wheat
      99 8 CHICAGO, Sun. Wheat futures showed fractional gains around mldaeeskm on Friday In thin dealings. With little news m the market, prices fluctuated narrowly on either side of the previous close. Spread buying against corn helped stabilise prices in the mixed trade and export potential provided underlying support. Wheat futures
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    • Article
      Silver
      211 8 LONDON,* Sun. 811 ver on Friday tost 0.6 to 1.0 pence per troy ounce. The market edged lower under limit endweek liquidation prompted by the movements in U8 futures, dealers said. Three Months traded down to 265.2 pence per troy ounce before finding shortcoverlng support and trading back to
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    • Article
      Zinc
      32 8 LONDON, Sun. Zinc on Friday afternoon finished with all round losses of £2.50 per tonne. Values softened under continued hedgeselling down to £313 for Three Months. Sales were only 75 tonnes.
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    • Article
      Lead
      28 8 LONDON, Bun. Lead closed on Friday with losses of mostly £2 per tonne. The market hovered around end-morning closing levels In routine trading of only 800 tonnes.
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    • Article
      Mixed trend in generally light trading
      560 8 THE Singapore produee market last week saw mixed trading with dealings generally light for want of proper pricing ideas from overseas markets. For the better part of the week, trading was characterised by the wide disparity between bid and offer prices with neither buyers
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    • Article
      Lock icon Japanese rubber imports down
      163 8 Reuter TOKYO, Sun. Japan's natural rubber imports In June dropped to 18,105 tonnes on a customs-cleared basis from 24,400 tonnes In May, the Finance Ministry said. The total comprised 12,185 tonnes from Thailand (19,003 In May), 2,483 from Indonesia (2,394), 2,022 from Malaysia (1,701), 270 from
      Reuter  -  163 words
  • MONEY AND EXCHANGES
    • Article
      New York
      357 8 NEW YORK. Sun. The dollar fell In quiet trading here on Friday as operators moved into stronger European currencies ahead of the Witteveen facility meeting In the weekend in Paris, dealers said. The meeting among ministers from 14 possible donor countries Is to discuss amounts and conditions of
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    • Article
      Frankfurt
      48 8 FRANKFURT exchanges closing quotes on Aug 5 OS 2.2547/ 57 CM 2.1410/ 30 UK 3.00/ 4.00 Net!) 04.20/ 30 SwtU 06.30/ 40 Italy 2 60V 612 Prance 47.2 V 35 Japan 0 063 V 40 BHf com 6 405/ 406 Bell fin 0.47/ 40 Nonr 43.40/ 57
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    • Article
      Lock icon Money market
      57 8 Source: Astley Pearce THE market tightened significantly last week and day to day funds were traded mostly above 5 per cent. The One Month saw a larger turnover pushing the rate up by per cent to close 4H *4 per cent. Moderate Interests were seen in the Twos
      Source: Astley & Pearce  -  57 words
    • Article
      Singapore
      178 8 THE US dollar last week opened at the 2.4380-95 level on the Singapore forex market and was then bid up to a high of 2.4448-55 reflecting a continued firmness in the short term Interest rates. Confusion over the short term outlook for Interest rates and trend of the US
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    • Article
      Minimum lending rates
      55 8 ACBC t l 4 Firat Chicago H Alfftnfof Balk Citibank .7 <*-• Bangkok Bank 7 HSRC Ik Biu of America (i, Indotun C Va Bank of China 7 IH Bank of Tokyo IS Mitaui Btik Bank Negara OCBC Indoneaia 7 OUB «v. «v. UCB 7 (laat Manhattan
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    • Article
      Asian $ rates
      243 8 Asian rates THE US dollar deposit rates went through a period of consolidation and adjustment throughout last week after the sharp rises seen the previous Friday. The one, three and sixes opened at 0, 6 3/10 and 0 1/2 on Monday and eased to 5 15/16, 16 1/8 and 6
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    • Article
      Lock icon Discount market
      350 8 Source: National Discount Co Ltd LAST week saw a firming of interbank rates following withdrawals from the system for month-end payments and seasonal transfer of funds. Overnight money opened at the 3ft per cent level on Monday and was traded between the region of 6ft sft per cent
      Source: National Discount Co Ltd  -  350 words
    • Article
      Short term money
      40 8 FOR the week ended Friday Aug 5, the ranee of call rates received from Short Deposit* (M) Berhad was as follows: BANK FUND 4* to OH GENERAL FUNDS 3VM to s** Movements of funds totalled $530 million.
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    • Article
      Zurich
      608 8 ZURICH, Bun. The dollar was subjected to rather sharp ups and downs throughout last week. While the tendency was weaklsh early In the week, It has been fairly firm In the last few days. Among the European currencies the D-mark lost some ground while sterling displayed a firm tone.
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    • Article
      London
      221 8 LONDON, Sun. Sterling drifted slightly lower on Friday to ciose at around $1.7386/90, down from 1.7394/97 at mldsesslon and 1.7393/96 at the opening. Dealers reported some unwinding of long positions in sterling, while Friday's widely-anticipated half point cut In minimum lending rate to 7Yt per cent had little market
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    • Article
      Euro $ rates
      150 8 Euro rates LONDON. Bun. Eurodollar deposit rates closed little changed on Friday from steady openings after minimal rate movements In quiet pre-weekend trading, dealers said. Periods were occasionally a shade softer on the offer side with some prime name bids noted In six months around mldsesslon. Rates remained unaffected by
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      129 8 AND PENANG TOO! Rasa Sayang a haven of fun in the sun. You can feel the pleasant mingling of informality and hospitality, the exuberance of endless recreational amenities: sailing, swimming, water-skiing, tennis or golf; all the elegance of a well-appointed accommodation, and savour a delectable range of superb international cuisines.
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  • Article, Illustration
    Lock icon SAD DAY FOR CRICKET
    1206 9  -  And every fan of every age, class and colour is the loser By JAMES LAWTON BEN LAWRENCE Daily Express THE sun has gone down over the pavilion and the great community of cricket lovers, the schoolboys, the okl colonels, the West Indian porters at Waterloo, have
    BEN LAWRENCE; Daily Express  -  1,206 words
  • Article, Illustration
    Foo bounces back with a 73
    725 9 JOHN Foo, who gave a disappointing performance at the recent Asian Gold championship In Kuala Lumpur, bounced back to form yesterday by posting the best gross of two-over-par 73 at the SICC "A" Division Monthly Medal competition at Buklt Course yesterday. Bill Bosley, the
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  • Article
    Huggett is now in the electric chair
    305 9 BRIAN HUGGETT has clinched the Job he desperately wanted when his outstanding golf career was crowned by his appointment as Britain's Ryder Cup captain. So now, by filling the hottest seat in sport, the 40-year-old stocky Welshman is happy. Hot seat? 1 personally
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  • Article
    Lock icon Veteran Mori by four
    287 9 Reuter TOKYO, Sun. Kenjl Mori, 31-year-old veteran Japanese pro, won the 1977 Kanto (east Japan) professional golf tournament by a four-stroke margin for his second victory of the year. Mori, a 12-year pro, fired a flve-underpar 67 for a 13round par 275 total on the 6,921
    Reuter  -  287 words
  • Article
    Lock icon Rankin wins by 7 strokes
    654 9 Reuter BUNNINQDALE, England, Sun Judy Rankin of the United States won the European Women's Professional Qold Championship here yesterday with a four-under-par 70 In the fourth and final round for a 281 aggregate. Rankin started out only one stroke clear of the 25-year-old Little but
    Reuter  -  654 words
  • Article
    Razar-sharp rivalry
    75 9 NEWPORT, Rhode Island, Sun. Competition among the four non-American 12metre yachts at preAmerlcas Cup races has become razor sharp midway through the initial round robin contests. Australia and Oretel n, the two yachts with the best records so far, sail against each other again today, as do Sverlge
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  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      244 9 Success in today's world of business calls for a constructive approach to financing, a sound knowledge of the available iparkets, and original ideas. These are the strategic qualities that Wardley can provide throughout Asia. Wardley Limited, backed by the resources and experience of The Hongkong Bank Group, can offer financial
      244 words
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  • Article
    Lock icon Witteveen fund totes US$9.5bn for new aid plan
    607 10 Reuter PARIS, Sun. Rich industrial countries and major 011-exportlnc nations yesterday agreed to provide finance for a new multlbllllon dollar International fund to help countries In serious balance of payments trouble. The new aid source will be administered by the International Monetary
    Reuter  -  607 words
  • Article
    Solar heat systems joint venture plan
    264 10 A NEW ZEALAND manufacturer of solar energy systems Intends to 1. go into a $000,000 Joint venr ture with a Singapore company to manufacture the systems here for the local and Malaysian markets. It is one of about seven New Zealand companies ln- terested
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  • Article
    Licences revoked
    47 10 JAKARTA, Sun. The Indonesian Government has revoked the licences, of 28 foreign capital Investment protects worth more than US$25B million (***** million), an Investment Board spokesman said today. The firms deal in chemicals, pipes, refrigerators, textiles, mining and forestry, the spokesman added without naming them.
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  • Article
    Rising expectations of the poor to blame for inflation
    411 10 INFLATION In the world economy has been largely fuelled by the rising expectations of the less developed countries. In other words If lower Income countries try to ape the standard of living In affluent nations, high Inflation rates will result. This
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  • Article
    ABEX '77 to feature 60 local, foreign firms
    262 10 SOME 00 local and foreign firms with a total turnover of gao billion, are participating in a four-day Asian Business Exposition (ABEX '77) to be held at the Hyatt Hotel from Sept. 7. The locally-based firms include: Northern Telecoms, Philips Telecoms, Cable
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  • Article
    Lock icon Income from pepper up
    56 10 AP KUCHINQ, Sun. Higher pepper prices enabled Sarawak, the world's biggest exporter of pepper, tp earn US$3.6 million (SSB.B million) more from the export of the commodity between January and April this year compared with that of the same period last year. The major customers were
    AP  -  56 words
  • Article
    US-Asean talks will be held next month
    439 10  -  By QUEK PECK LIM THE US-Asean dialogue will take place from Sept 7 to 9 as originally planned and not In November as stated by the Philippines Foreign Secretary, Mr. Carlos Romulo, at a press conference last Friday. A press release Issued by
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  • Article
    NZ assurance for Japan on quota issue
    288 10 THE prime ministers of Japan and New Zealand met yesterday morning for 2 ft hours of discussions which have to a large extent cleared up the principal issues governing economic relations between the two countries. At a pifess briefing later In the day,
    288 words
  • Article
    Aussie Asean trade panel
    138 10 A JOINT Australian Ajean working group will begin work on the question of expanding trade between the two countries before the end of the year. Conference sources here say the working group, agreed to during talks held earlier this year in Solo, Indonesia, will comprise at
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  • Article
    Lock icon Work dodgers beware
    160 10 Reuter PLAINS (Oeorga), Bun. Calling the US welfare system hopelees and unfair. President carter yesterday propoeed the creation of a new *****0.7 billion (8974.9 billion) proiramme deelgned to t force unem ployedfpeople to wort or At a prees conference Mr. Carter eald bo believed Conrress would approve
    Reuter  -  160 words
  • Article
    Lock icon CBI to urge tax treaty review if US amends terms
    333 10 Reuter LONDON. Bun. The Confederation of British Industry (CBI) will urge reconsideration of tax concessions to American companies in Britain If the US Congress drops curbs on state taxes from the USBrlUsh tax treaty, a CBI spokesman said. The treaty,
    Reuter  -  333 words
  • Article
    Accord on fund to stabilise world coffee prices
    266 10 BOGOTA, Sun. A summit meeting of five Latin American nations over the weekend reached agreement on a plan for a fund to help stabilise world coffee prices. The five Colombia, Costa Rica, Mexico, Venezuela and Panama approved a proposal by Mexico to
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  • Article
    Lock icon Manila exports rise in first half year
    150 10 Reuter MANILA, Sun. PhlUpKs export earnings In the six months of this year were up on the same period last year to U811.3 billion (813.12 billion) from slightly over $1 billion, according to preliminary statistics from the Central Bank. The figures, which did
    Reuter  -  150 words
  • Article
    DAILY AIRCRAFT MOVEMENTS
    529 10 AR1 RIVALS Service Local Operator Number Time From CPA CX003 0145 HKQ SAS SK007 MAS MH682 0610 KCK I CPA CX710 Ir' l ''J OIA GA980 1030 HLP THAI TG423 1035 BKK SIA SQ211 1045 HLP OIA OA944 1055 PKU OIA OA 908 PAL PR501 1115 MNL
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      183 10 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.
      183 words