The Business Times, 2 September 1977
1977-09-02
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The Business Times
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Title Section10 1977-09-02 1 BUSINESS TIMES M.C.(P) 300/1/77 FRIDAY, SEPTEMBER 2, .1977 50 CENTS10 words
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NEWS IN BRIEF
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Article105 1977-09-02 1 AFP LONDON, Thurs. A United Nations peacekeeping force will oversee the transition period in Rhodesia before Independence In 1978 according to the Anglo-American plan. The U.N. force would enforce a ceasefire to be declared when power was transferred to a provisional administration headed by a British residentAFP - 105 words
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Article55 1977-09-02 1 HONGKONG, Thurs. The Taiwan government will establish an export-Import bank to help finance foreign trade, a senior financial official said, according to the Centrals News Agency. Before the establishment of the export-import bank, the International Bank of China and the China Insurance Co will increase loan and export55 words
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Article39 1977-09-02 1 AFP SHEFFIELD, Thurs. South Korean cutlery manufacturers are ready to limit their exports of stainless steel "flatware" to Britain "in the longterm interests of both Industries", according to statement today following talks with their British counterparts. AFPAFP - 39 words
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Article34 1977-09-02 1 LONDON, Thurs. More than 4,000 British dockworkers returned to work today, ending a week-long strike that left 19 ships and tens of thousands of tonnes of cargo stranded at London ports.34 words
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Article68 1977-09-02 1 UPI PARIS, Thurs. Soviet authorities have banned the French-German Airbus from landing in Moscow and are blocking French demands to allow the Concorde supersonic Jetliner from flying over Siberia, government officials charged today. They said the negotiations on Soviet landing rights for both the Airbus and theUPI - 68 words
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Article33 1977-09-02 1 Reuter HONGKONG, Thurs. The Hongkong tourist industry faces stiff competition from its Southeast Asian neighbours but could double the number of visitors here by 1980, the Tourist Association chief forecast. Reuter.Reuter - 33 words
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Article59 1977-09-02 1 UPI NEW YORK, Thurs. Stocks headed higher early today in a continuation of a rally begun late yesterday. Trading was moderate. The Dow Jones Industrial average, which gained 2.60 points in yesterday's rally, was ahead 2.95 points to 864.44 shortly before 11 am. Advances outnumbered declines, 666 toUPI - 59 words
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Chief Price Changes
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Article, Illustration164 1977-09-02 1 THE easier trend on the Stock Exchange of Singapore persisted yesterday in thin trading. Moat shares ended in minus territory. However, losses were marginal. The Business Times index rose 0.37 point to 426.51 while the Straits Times Industrial average was marginally off at 267.21. Foils Most active164 words
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Article109 1977-09-02 1 Falls Most active TtUm 1 80 -.15 Sim Llm 408,000 Berjuntal 7.15 -.15 T'sganu Dev. 184,000 M'tii Weaving 170,000 Syd Resins Magnum Corp 0.88 -.12 2.98 -.12 Oiympla 184,000 Sim Llm 1.17 -.11 Total Turnover: 2.834,000 If PaeDev 3.08 -.10 Total Value: MS4.863.00 11 Aokam 3.80 -.10109 words
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Article1167 1977-09-02 1 JOHN TAN - EXPORT TAX CONCESSIONS URGED By JOHN TAN SINGAPORE publishers and printers are ready and willing to answer the call to export more, provided the Government tightens present legislation that Inhibits the Industry's performance. The totally Inadequate copyright laws for printed material and the tax incentives1,167 words
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Article135 1977-09-02 1 Reuter HONGKONG, Thurs. Insider trading Ls difficult to stamp out on the stock exchanges here because Hongkong Is* a small community full of family businesses, according to the retiring head of the watchdog Securities Commission. The Attorney-General announced recently that new legislation ls to be IntroducedReuter - 135 words
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Article, Illustration312 1977-09-02 1 SINGAPORE will seek ways to accommodate suggestions on resolving the Asean diesel engine problem at the forthcoming economic mfnisters meeting at Pattaya: The Finance Minister, Mr. Hon Sul Sen, said that Singapore wanted to pursue the diesel engine project as an Asean312 words
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316 1977-09-02 1 EMPLOYERS "apparently find it cheaper to pay overtime than to hire more worker*." This is the view of Mr Choo Eng Khoon, who, writing in the official NTUC newsletter Labour Mews, blamed it on the prevailing rate of overtime payment. Mr Choo's article316 words
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280 1977-09-02 1 Reuter BRISBANE, Ttaun. The Queensland government decided today to take International legal action against Japanese sugar refiners over a At 1.3 billion (813.51 billion) long term contract to buy Australian sugar. Premier Job BjelkePetersen announced the move after rejecting a proposal by theReuter - 280 words
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Article182 1977-09-02 1 WASHINGTON, Thurs. Wholesale prices in the United Btates rose 0.1 per cent in August, reflecting the fourth consecutive monthly decline In farm prices, the Labour Department said today. Although August brought the first wholesale price increase in three months, it wy little cause for concern182 words
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292 1977-09-02 1 PROTECTIONISM in Europe is only temporary phase. It will taper off once the problems of unemployment aad slow economic growth are resolved. This assuranoe was given last night by a team of 24 senior French executive* and bneineee leaders new on s five-day292 words
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415 1977-09-02 1 SINGAPORE'S exports to the US have been growing at an annual rate of 32 per cent, making that country Singapore's largest export market. Japan, on the other hand, sold the most to Singapore in the first seven months of this year, according to415 words
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222 1977-09-02 1 COMMERCIAL Discount has increased its paid-up capital from *3 million to $5 million, bringing it into line with the equity size of the three other discount companies here. This capital Increase, explained the firm's manager. Mr. Lee Han Mln, "will increase our operational capacity. It222 words
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Page 1 Advertisements
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Advertisement38 1977-09-02 1 Get advanced copying technology. r 12 Owmu New*/TV Transport 4 Cw Radio —PS lansirstlsas Local Co. Now* —P4 Features International Co. News—PS Local ft Oiwmi Local Stocks —PI News Crgssworc Ownai Stocks —P7 Local Overseas Commodities —P8 News38 words
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Advertisement101 1977-09-02 1 tor quality and souvenirs I Selangor Pewter has long been admired by connoisseurs the world over for its elegance and beauty. Individually handcrafted from 97% lead free Straits refined tin,the beauty of quality pewter never dates. Functional as it is decorative, Selangor Pewter is the ideal gift. Selangor Pewter the101 words
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Advertisement253 1977-09-02 1 ST SINTAT Rent-a-Car VVORIOW«Dt PfSfßVflliO\ Singapore: *****55. *****5 (Airport) Kuala Lumpur: *****6 Penang: ***** y©W ACE INVITEE) to the First International Exhibition of Business Equipment Services in Southeast Asia xeEKr ASIAN BUSINESS EXPO September 7.8,9,10,1977 Hyatt Singapore Hotel Convention Centre A Rewarding Efent tor B-Jsinass Personnel hi Industry, Matting, Wholesaling,253 words
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OVERSEAS
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391 1977-09-02 2 UPI HELSINKI, Thurs. Finland's currency markets open with a 3.1 per cent devalued markka today, after being closed for three days while the government pondered the country's answer to Sweden's 10 per cent and Norway's and Denmark's five per cent devaluations on Monday.UPI - 391 words
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167 1977-09-02 2 Reuter NAIROBI, Thurs. All eight producer nations at the International Coffee Organisation (ICO) board meeting here yesterday backed a Mexican proposal for stabilising coffee prices, board sources said. The executive board discussed the plan for a buffer against violent price fluctuations for 2V» hours.Reuter - 167 words
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143 1977-09-02 2 Reuter WASHINGTON, Thurs. The White House denied a report that President Carter is studying possible voluntary wage and price standards. Spokesman Jody Powell said: "There is absolutely no such proposal being considered by the White House. The President has given no instruction to develop suchReuter - 143 words
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475 1977-09-02 2 Washington Star WASHINGTON, Thurs. Voluntary standards to discourage inflationary price and wage increases are needed, some officials of the Carter Administration believe. These officials are searching for a formula to strengthen the government's role In fighting Inflation without arousing bitter opposition from labour andWashington Star - 475 words
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185 1977-09-02 2 Reuter LONDON, Thurs. A group of Arabs from Bahrain want to turn the home of one of Britain's most controversial Prime Ministers. David LloydGeorge, Into a casino. Estate agent Barney Harris said yesterday the Arabs had put in a £2 million (8*8.52 million)Reuter - 185 words
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371 1977-09-02 2 Reuter AP WASHINGTON, Thurs. Budget director Bert Lance said government agencies should hold down their budget requests for 1979 so President Carter can restrain the growth of total spending to no more than two per cent after Inflation. Mr. Lance, In a speech toReuter; AP - 371 words
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Article114 1977-09-02 2 Reuter WASHINGTON, Thurs. House Ways and Means committee chairman Al Ullman, favours tax cuts that will be proposed in President Carter's tax reform plan as a way to stimulate the economy, a spokesman for Mr. Ullman said. Mr. Ullman received a briefing at theReuter - 114 words
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Article123 1977-09-02 2 Reuter WASHINGTON, Thurs. Net savings Inflows to federally-Insured savings and loans measured a record U553.92 billion (559.40 billion) in July, the Federal Home Loan Bank board said. That was up from $2.05 billion In June and surpassed the previous July record of $3.29 billion lastReuter - 123 words
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Article123 1977-09-02 2 Reuter WASHINGTON, Thurs. Liabilities of US banks to their foreign branches totalled U553.33 billloij (558.16 billion) in the week ended Aug 24, down $602 million from the previous week and off $1.48 billion from the comparable week a year earlier, the Federal Reserve Board said. USReuter - 123 words
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Article60 1977-09-02 2 Reuter TORONTO, Thurs. Fructose, a saccharine substitute used to sweeten low calorie soft drinks, may Increase the risk of heart disease In diabetics and In the overweight, according to a senior Canadian health official. In a letter to diet drink manufacturers, Dr W.P. McKlnley, said the government wasReuter - 60 words
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Article243 1977-09-02 2 Reuter WASHINGTON, Thurs. Some US Administration economic planners are trying to come up.with a benchmark by which business and labour can measure whether their wage or price Increases are aggravating inflation. However, other administration sources say the work Is only one of several anl-lnflatlon proposals beingReuter - 243 words
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517 1977-09-02 2 NYT PARIS, Thurs. Faced with rising unemployment and a crucial parliamentary election next spring, the French Government announced yesterday Its second package of expansionary economic measures this year. The new measures, which will Inject about US$l billion (552.45 billion) of new spendingNYT - 517 words
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277 1977-09-02 2 AP UPI CARACAS, Thurs. Multl million dollar oil exploration programmes, aimed at boosting Venezuela's oil reserves, will get under way in the coming months, a high ranking Industry official said on Wednesday. General Rafael Alfonso Ravard, president of the state-owned parent company Petroleos vdeAP; UPI - 277 words
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158 1977-09-02 2 AFP WASHINGTON, Thurs. The full texts of the two treaties governing the Panama Canal, recently agreed on In principle by the United States and Panama, will be made public In Washington probably tomorrow, the US State Department announced yesterday. Department spokesman Hoddlng Carter saidAFP - 158 words
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Article82 1977-09-02 2 Reuter JOHANNESBURG, Thurs. No adjustment of the South African rand exchange rate is likely In the near future, but adjustments will have to occur more frequently, South African Finance Secretary, Gerald Browne said. He told a Johannesburg chamber of commerce meeting that In present circumstances adjustmentsReuter - 82 words
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258 1977-09-02 2 AP LONDON, Thurs. A factory owner who says he would rather lose his business than take back the strikers he fired, seemed headed for fresh confrontation with labour unions today. Mr. George Ward, boss, of Grunwick Processing Laboratories Ltd. rejected the recommendation ofAP - 258 words
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Page 2 Advertisements
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Advertisement198 1977-09-02 2 Singapore can turn ri i -c sK i' »i rfc r *,H»r -i 3£l. h-r v A r 3* s**? -V Energy Development... Mining... Transportation... We are the' Ideas Bank! The Canadian Imperial Bank of Commerce. Our offshore branch with Asian Currency Unit in Singapore puts you in touch with198 words
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Page 2 Miscellaneous
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Miscellaneous19 1977-09-02 2 BriStcfWDicloas HRUO -THAT'S STKfINGE f\ e>\«?D Kitu Ote.RWGf\D SujCOffcD DOWN,oeCL£T>' Tu>»Ce AMD ropoe OFF W DICtCTOM OFTW£ cues ajtLONG.19 words
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Miscellaneous27 1977-09-02 2 THE WEATHER liar 3 T Hour* of SuhiUm .J 00 Rainfall 1b Milllmotoio ail Total Rainfall for tho Month all Total Rainy Days for the Month nil27 words
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Miscellaneous261 1977-09-02 2 SINGAPORE 5 3.00 PM Opening announcements followed by Housewives' Matinee Hello My Love (A Mandarin film Repeat) 4.25. Intermission 6.05 Opening announcements followed by Exercise with Gloria 6.30 News in Brief 0 6.35 The Senses 7.00 Serbanika (Malay) 7.30 News, Parliamentary Report and Newsreel in Malay 4 8.05 The Explorers261 words
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Page 3 Advertisements
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Advertisement146 1977-09-02 3 V V V mm* ARB* 4PM IBJH K N V *ll Mr ~M>mOr 91 IE T H 0 kfl A I v r^4? I V- >' k «;L >% fek* I ■J1 #i y 1 > .-V >5:" s ,*;.#> ut -i i.\ -IV j i ;€pf vif H7 i146 words
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COMPANY NEWS
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Article324 1977-09-02 4 SIME DARBY Holdings said yesterday that Its proposals to purchase the Australian Thyer Rubber group for Asl.9 million has been cancelled by mutual consent. The decision to terminate the offer to purchase the rubber group's holding company, Spring Investments Pty Ltd, came because324 words
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406 1977-09-02 4 THE promising Interim results of Synthetic Resins (Malaysia) proved an Illusion when the expected demand for Its PVC resins and compounds failed to materialise during the second half year to June, 1977. After achieving a creditable turnround to profitability at the half-way mark, with406 words
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257 1977-09-02 4 KUALA LUMPUR, Thurs. Talasco Insurance which had been in the red In previous years has reversed its losses and made a profit for the first time since it started operations three years ago. Company Chairman Enclk Abdullah Ismail said today that the company made257 words
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Article320 1977-09-02 4 Current Ex Date Total for Total Tor payment Date payable the year previous year Selangor Dredging 15% AUK 12 Sept 6 50% 40% Ik-rjitya Kawat 5%TE Aug 16 Sept 9 10%TEb 7.5%TE I Id Malacca 18% Aug 23 Sept 10 24% 20% Selangor Properties 8%I Aug 23 Sept320 words
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161 1977-09-02 4 MALAYSIAN Titanium In which Straits Trading has a 30 per cent Interest through Its wholly owned subsidiary, Malayan Tin Smelting and Finance, has suspended production. It has also retreched Its staff and put Its plant on a care and maintenance basis, Straits Trading said In a161 words
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Article129 1977-09-02 4 IPOH, Thus. Stockbroking companies were urged to work hard In order to survive and continue In business for a long time. This call was made by the chairman of the Kuala Lumpur Stock Exchange Committee, Tengku Noone Aziz bin Tengku Mahamood, at a dinner here on129 words
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LATEST RESULTS
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Article48 1977-09-02 4 Group audited trading profit before tax ana extraordinary loss M 53.91 million (*4.9 fnlllion) on sales of $00.1 million ($56.8 million) for the year ended June 1977. The parent company's pre-tax profit Is $4 million ($5.1 million). Final dividend six per cent (9 per cent).48 words
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Article25 1977-09-02 4 Conso- lidated unaudited net loss $93,000 (loss $389,000) on sales of $2.2 million ($2.0 million) In the half year ended June 1977.25 words
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208 1977-09-02 4 ROBINSON'S intends to do away with its cumulative preference shares and is seeking approval from both the cumulative preference shareholders and the ordinary shareholders for a capital reduction scheme. Informing the Stock Exchange of Singapore about this matter, the company says the208 words
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594 1977-09-02 4 NYT NEW YORK: One of the strange truths about the investment business Is that Wall Street stockbrokers use both technical and fundamental analysis and that hardly anyone Is surprised when they disagree as they often do. The technicians look at such thingsNYT - 594 words
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201 1977-09-02 4 Reuter SYDNEY, Thurs. CSR Ltd will offer AAR shareholders a cash and share alternative to its previously announced AS 1.75 per share offer, CSR said In Its formal takeover documents. Shareholders may elect to receive two CSR shares plus $3.50 cash for everyReuter - 201 words
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Article82 1977-09-02 4 MELBOURNE, Thurs. Higher profits for the year ended June 1977 has led the Commercial Bank of Australia to pay a higher dividend on its enlarged share capital. Audited consolidated net profit for the year rose to A 520.9 million from SlB million last time, while Income advanced to82 words
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Article32 1977-09-02 4 NEW YORK, Thurs. Commonwealth Edison has raised net profits In the year ended July 1977 to US$2Ol million from $189 million on revenues of $2.03 billion against $1.83 billion.32 words
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112 1977-09-02 4 Reuter MELBOURNE, Thurs. Western Mining Corp (WMC) said It appointed London mechant banker, S.Q. Warburg as financial adviser in connection with its Yeellrrie uranium project In Western Australia. WMC gave no further details but chairman Arvl Par bo last week said that salesReuter - 112 words
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Article67 1977-09-02 4 NEW YORK. Thurs. Sears Roebuck enjoyed a tremendous earnings boost In the first half year ended July 1977. Net profits for the six months came to US$36l million against $222.12 million. In the current year second quarter, profits were $207.1 million compared with $137 million. Sales for67 words
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Article96 1977-09-02 4 Reuter MELBOURNE, Thurs. Conzlnc Rlotlnto of Australia Ltd (CRA) has Joined the Amax Inc-led consortium exploring the Namosl Porhyry copper prospect on Vltl Levu Island, FIJI, Amax said In a statement Issued In Suva and released here by CRA. CRA's unit, Copper Resources (FIJI)Reuter - 96 words
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Article46 1977-09-02 4 NEW YORK, Thurs. Deere and Company has Inched ahead In the nine aonths ended July 1977 Ith net profits of U*****.3 million compared with $205.5 million last time. Its sales for the latest three quarters came to $2.63 billion, up from $2.42 billion46 words
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Article432 1977-09-02 4 REFLECTING the success of Its reorganisation programme carried out last year. United Motor Works (Malaysia) has reported a sharp turn round to profitability for the first halfyear ended June, 1977. Group pre-tax profit turned In during this January-June period amounted to MsBoo,ooo registering a smart432 words
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214 1977-09-02 4 KUALA LUMPUR, Thurs. The MIC Unit Trusts Berhad Is to launch Its first Investment fund on Sept. 7 more than a year after It was incorporated with a paid up capital of $100,000. The target set for the MIC Investment fund 1,214 words
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COMPANY MEETINGS
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Article26 1977-09-02 4 THE following company meetings are due: Sept 3 at 9.30 a.m. at the Company's Office at Shah Alam industrial Estate, Sungel Renggam, Selangor.26 words
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Article19 1977-09-02 4 Sept. 17, 12 noon at the Gardenia Room, Shangri-La Hotel, 22 Orange Grove Road, Singapore 10.19 words
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Article18 1977-09-02 4 Sept. 17 at 15th Floor, Rooms 1511/1512, Shlng Kwan House. 4 Shenton Way. Singapore 1.18 words
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Article11 1977-09-02 4 Sept. 19 at the Registered Office, Batu Tiga, Selanpor.11 words
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23 1977-09-02 4 Sept. 21 at 10.30 a.m. at the Registered Office, 12thFloor, Yee Seng Building. Jalan Raja Chulan. Kuala Lumpur.23 words
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Article19 1977-09-02 4 Sept. 29 at 10.30 a.m. at First Floor. Ban Hln Lee Bank Chambers, Beach Street, Penang.19 words
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350 1977-09-02 4 MUCH AGAINST expectations, Sembawang Shipyard has set Itself back on the road to recovery with pretax profit rising 41.6 per cent to $13.33 million for the six months ended June 1977. This massive Increase in profit was achieved on the back of350 words
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Article1398 1977-09-02 4 On August 31 Trading on the Chicago Board Options Exchange on Wednesday came to 73,106 contracts compared with 85.048 contracts on Tuesday. OPTION OCT JAN APL STOCK Alcoa 45 UNTRD 4 4 7/8 46 3/4 Alcoa SO UNTRD 1 1/2 UNTRD 46 3/4 Alcoa 60 UNTRD UNTRD1,398 words
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Page 4 Advertisements
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Advertisement151 1977-09-02 4 (Incorporated in Malaysia) ANNOUNCEMENT The directors are pleased to announce the following results for the year ended 30th June, 1977:1977 1976 roooi rooo« GROUP Turnover 218,225 211,852 Consolidated net profit before taxation 12,707 14,580 Provision for> Taxation 5,619 7,722 Minority Interest 53 100 Consolidated Group net profit after taxation 7,035151 words
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INTERNATIONAL COMPANY NEWS
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Article199 1977-09-02 5 NORTH AMERICAN COMPANIES Reuter BOC INTERNATIONAL said the US district court in Delaware dissolved an injunction issued against it in response to a Federal Trade Commission request In connection with BOC's acquisition of about 35 per cent of Alrco Inc in 1973. The company saidReuter - 199 words
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108 1977-09-02 5 Reuter COLOGNE, Thurs. The new engine factory which Ford Motor of the US plans to build In Europe will probably not be sited In West Germany because production costs are too high there, Peter Welher, management board chairman of Ford-Werke, the GermanReuter - 108 words
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Article386 1977-09-02 5 NYT J.P. STEVENS and Co., a major textile manufacturer, was ruled In contempt of court on Wednesday by a federal Appeals Court that vehemently denounced the company's persistent harassment of union organisers. In unusually strong words, the US Court of Appeals for the second circuitNYT - 386 words
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Article233 1977-09-02 5 Reuter TEXACO INC said its wholly-owned Texaco North Sea UK Co subsidiary has decided to develop the Tartan Field, located In the UK sector of the North Sea about 185 km north-east of Aberdeen, Scotland, subject to approval by the British Department of Energy. Texaco saidReuter - 233 words
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Article96 1977-09-02 5 Reuter PACIFIC GAS and Electric Co said It filed a notice of Intention with the State Energy Commission to build a two-unit nuclear power plant In central California estimated to cost as much as US$4 billion in 1988 terms. The first unit Is scheduled for operationReuter - 96 words
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Article42 1977-09-02 5 Reuter SILICONIX INC said Its directors authorised continued negotiations regarding an offer by Honeywell Inc to purchase Siliconix stock. The company, in Its statement, gave no further details. Honeywell is seeking to acquire Siliconix for US$l9 million at $10 a share.Reuter - 42 words
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Article94 1977-09-02 5 Reuter NEW YORK City Mayor Abraham Beame, said he sent a telegram to the Securities and Exchange Commission asking for all correspondence, testimony and other pertinent Information relating to the SEC's Investigation of New York City's fiscal crisis. If the SEC does notReuter - 94 words
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Article69 1977-09-02 5 Reuter IBM CANADA LTD said It has applied to Xerox of Canada Ltd for a licence to continue marketing copiers that the courts have found Infringe on Xerox patents. The announcement was made shortly after the federal Court of Appeal dismissed IBM's attempt to overturn aReuter - 69 words
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Bonds
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Article86 1977-09-02 5 Reuter LONDON, Thurs. Eurocurrency banking sources here said Poland's planned medium term borrowing of some US$35O million to finance expansion of its copper industry may be finalised within a few weeks. The loan has been expected for some months and current indications are for a lReuter - 86 words
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Article71 1977-09-02 5 Reuter LONDON, Thurs. The Beecham group's US$3O million convertible Eurobond has been priced at par with a coupon of 6% per cent, lead manager Hill Samuel said. The bonds are guaranteed by Beecham Group and convertible Into its ordinary stock. The conversion premium Is 11.6 perReuter - 71 words
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Article62 1977-09-02 5 Reuter LONDON, Thurs. The Barclays Overseas Investment Company US$lOO million Eurobond, due 1992, has been priced at par and carries a coupon of 8 1/2 per cent as Indicated, lead manager Union Bank of Switzerland (Securities) Ltd said. The issue is guaranteed and Jointly managed by Barclays BankReuter - 62 words
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Article46 1977-09-02 5 Reuter TOKYO, Thurs. Brazil's state iron ore concern, Cla Vale Do Rio Doce (CVRD), signed a contract with a syndicate of Japanese underwriters to float a 10 billion yen, 10-year bond through private placement, the Industrial Bank of Japan said as lead manager. ReuterReuter - 46 words
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277 1977-09-02 5 AP LISBON, Thurs. Angola yesterday took control of the giant multinational "Diamang" diamond company, but apparently left untouched the aharea of European, American and South African interests. A statement from the Angola government news agency Angop, reported here by Portugal's newt agency, said theAP - 277 words
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Article184 1977-09-02 5 ASIAN COMPANIES Reuter MELBOURNE, Thurs. A proposal to build a steel rolling mill at Jeddah in a Joint venture with the Saudi Arabian government has been abandoned, Broken Hill Pty Co. (BHP) said In Its annual report for the year ended May 1977. The currentReuter - 184 words
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107 1977-09-02 5 Reuter TOKYO, Thurs. Tokyo Shlbaura Electric (Toshiba) said it acquired a 35 per cent stake in a Brazilian company to build colour television sets and audio systems in Brazil under a Joint venture. Toshiba said the Brazilian firm was Sempt Amzonas SA, of Manaus,Reuter - 107 words
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73 1977-09-02 5 Reuter TOKYO. Thurs. The Japanese Fair Trade Commission said it approved a three-month extension of the anti-slump cartel formed by 22 polyvinyl chloride (PVC) resin makers, due to expire yesterday, until the end of November. The Japanese producers Including Toa Gosel Chemical Co are toReuter - 73 words
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Article81 1977-09-02 5 AFP HONOKONO, Thurs. Eastern Asia Navigation (EAN) today reported a profit of HK5164.51 million for the year ended March 31. A brief announcement said that the directors were recommending a final dividend of 28 cents per share. EAN Is one of the companies of shippingAFP - 81 words
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541 1977-09-02 5 FT GOTENBERO, Thurs. The most likely outcome of the breakdown of merger talks between the two Swedish companies Volvo and SAAB-Scanla is that SAABScanla will go it alone while Volvo will look round for a new partner, preferably from within the European car Industry.FT - 541 words
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Article221 1977-09-02 5 AFP TOKYO, Thurs. Japan's biggest car maker Toyota Motor Co. has no plan to limit Its car exports voluntarily to the United States, It was reported here today. Toyota president EIJI Toyoda, speaking at a press conference yesterday, said the United States was not expected toAFP - 221 words
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Article74 1977-09-02 5 Reuter TEHERAN, Thurs. The state-owned National Iranian Oil Company said Its direct oil sales this year are expected to rise to 70 million tonnes from 55.4 million last year. Direct sales by NIOC have been climbing steadily since Western oil companies operating here reduced their liftingsReuter - 74 words
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Article154 1977-09-02 5 Reuter SYDNEY, Thurs. The Sydney Stock Exchange said 7.75 million of the 15.5 million SSI par units in ASC Property Trust will be listed for trading ort local stock exchanges from today. Australian Shopping Centres Pty Ltd, owned one-third each by the families of HongkongReuter - 154 words
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Article114 1977-09-02 5 Reuter BANGKOK, Thurs. The Thai government will take a 10 per cent stake In the Phoenix Pulp and Paper Co by Investing 35 million baht in the company, which plans to build a plant producing paper pulp from kenaf, a board of Investment official said.Reuter - 114 words
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Article110 1977-09-02 5 AFP HONGKONG, Thurs. Hie new chairman of the Hongkong and Shanghai Banking Corporation in Hongkong it Mr. Michael Sandberg. He succeed* Mr. Guy Sayer who retired yesterday. Mr. Sandberg joined the Hongkong bank in 1949 and served here as well as in Japan and Singapore. He becameAFP - 110 words
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Article75 1977-09-02 5 AFP JAKARTA, Thurs. International Timber Corporation Indonesia ITCT will build one of the largest sawmills In Indonesia at Its concesslon in East Kalimantan. The sawmill will have a production capacity of 90.00 cubic metres of timber per year. Construction of the sawmill Is expected to begin thisAFP - 75 words
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Article34 1977-09-02 5 Reuter TOKYO, Thurs. Kao Soap will make a one-for-10 scrip stock Issue to shareholders on Sept 30. The Issue will raise Its capital to 5.32 billion yen from 4.84 billion. Reuter.Reuter - 34 words
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Article62 1977-09-02 5 Reuter WOLFSBURO, Thurs. Volkswagenwerk's dally production of Its dleselpowered Golf cars here should be well above 750 next year, compared with current dally output of around 500, a VW spokesman said. VW faces overwhelming demand for these vehicles and has been seeking additional component supplies toReuter - 62 words
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Article192 1977-09-02 5 Reuter SYDNEY, Thurs. Boral, the Australian petroleum products, rubber, tea and cocoa concern, has lifted Its consolidated operating profit for the year to end June to AS 17.23 million against the $12.49 million for last year.. Revenue for the period was $252 million against $226Reuter - 192 words
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Article134 1977-09-02 5 Reuter TOKYO, Thurs. Consolidated net income at Olympus Optical has risen in the first half ended April 1977 to U5511.95 million from $8.76 million previously. Sales too enjoyed a good boost from $125.4 million to $146.3 milllbn. The company attributed the better results chiefly to increased overseasReuter - 134 words
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160 1977-09-02 5 UK COMPANIES FT THE majority of the British public Is strongly opposed to proposals to nationalise the banks and are concerned about the possible effects, according to two opinion surveys commissioned by the Committee of London Clearing Banks. The opinion polls were carried out by MarketFT - 160 words
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Article70 1977-09-02 5 Reuter SEARS HOLDINGS Ltd said Its US subsidiary Sears Industries Inc has agreed to dispose the trading assets of Highlander Ltd to Artrose Inc. Artrose will assume all the liabilities of Highlander, which has incurred substantial trading losses over the last two years, other than lnter-companyReuter - 70 words
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Advertisement119 1977-09-02 5 N W 111 Ik SELL SHAKES If HIE SEAT IF YMI PANTS? You need not! On (Iw contrary you can learn what signs to look for before you commit your money in the market. And you can improve the odds greatly in your favour by following a few chart principle*119 words
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Advertisement55 1977-09-02 5 The English Dictionary makes an spokesman for Marelli shoes luxurious/lag zhureas adj 1 very comfortable 2 choice and costly 3 self-indulgent: clothes, footwear etc. elegant eligant adj showing, having, good taste; done with care, skill and taste. classic/ klaesik adj 1 of highest quality; having a value recognized and unquestioned55 words
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Article2405 1977-09-02 6 Gr'a Gr's Nat 1977 Last div Div yld P/E Vol Day High Low Company Sale +«r- c'rr ('•••> High Low 8ECTION ONE INDUSTRIALS 154 136 Acma 143 unch 12. ON 1.8 8.3 6.7 6 143 143 204 172 Alcom 172 10.0 0.5 5.8 27.7 116 58 Allied2,405 words
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Article1509 1977-09-02 6 BID and offer price* officially listed and business in and reported to the Stock Exchange of Singapore festerday with the number of share* traded shown in brackets in lots of 1000 units unless otherwise specified All Time Settlement Contracts are quoted after the word "Sett." Big Board1,509 words
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Article1458 1977-09-02 6 BID and offer price* officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of share* traded shown in bracket* in lots of 1.000 units unle** otherwise specified industrials Ajmamata <2 00B). Ale am (1 908). Als*. Hold (0 SOB1,458 words
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Article46 1977-09-02 6 STRIKING prices of the stock options officially listed on the Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday, with the number of options traded shown in brackets. Inchcape (Mar 82.40) (0.2Z8) (Ma, «.M) UOB (Dec 83.20) (9.128 8.188)46 words
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Article140 1977-09-02 6 SINGAPORE UNIT TRUST INCOME BOND UNIT IMuifm' pricai far Sep< I). (Carrot iricaa) INCOME BOND 1.07 1.13 MARA BUMIPUTRA FUND The Commerce.... 1.75 1.85 (Maaagan' pricaa far tot J) The Saving Fund 1.03 1.09 First Bumlputra 2 22 2 27 Spore Prog Fund 0 88 0.93 Second Bumlputra140 words
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Article160 1977-09-02 6 B O T 8 1/2% 1981 (100,000) (103*B 103*8) B O T 7 5/8% 1984 (100,000) (99M8 99*8) LTCB J 1982 (100,000)(98*B 98*8) Credit Lyoonais Floating 1983 (100,000) (98*B 98*8) DBS Converts 1/2% 1991 (100,000) (988 98*8) D B S 8 1/2% 1982 (100.000) (101*B 102*8) EI 89%160 words
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Article156 1977-09-02 6 Rep Spore O Mark 7% 1982 (100,000) (101 KB 101*8) Rep Spore C 1/2% 1983 (100.000) (1008 100HS) Rep Spore 7 3/4% 1987 (100,000) (100 SB 101S) 5 1/2% 1/12/77 (250,000) (100.478 100.575) 5% T F 1/3/78 (250,000) (101.508 101 665) 5 1/2% 1/4/78 (250,000) (101.068 101.218) 5156 words
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Advertisement176 1977-09-02 6 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce.. Politicians, civil servants, the media and more. It's people like these who176 words
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Article, Illustration562 1977-09-02 7 SHARES finished mainly in minus territory in thin trading on the Stock Exchange of Singapore yesterday. During ttae opening market, activity did pick up little following the resumption of settlement deeHng for the new month. But this toon petered out in the light of profit-taking562 words
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Article430 1977-09-02 7 SHARE PRICES moved lower In thin trading on the Kuala Lumpur Stock Exchange yesterday. Trading was on an easier bias throughout most of the day but the late afternoon saw some support to lift prices off their low. Sim Llm and General Ceramics were among the430 words
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INTERNATIONAL STOCK MARKETS
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Article334 1977-09-02 7 HONGKONG: The market closed firmer after an easy opening, in quiet trading on Thursday, dealers said. The Hang Seng index rose 1.32 points to close at 429.05. Jardine Maths— was actively traded to end at the day's high, up 20 HK cents to HK514.70. Hongkong Bank rose 20 cents334 words
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Article522 1977-09-02 7 TOKYO: Share prices closed slightly lower on Thursday, as Investors showed caution after recent rapid gains, dealers said. The Dow Jones average lost 4.86 to 5,238.60, with volume 430 million shares. The New Index closed at 389.37, up 0.49. Many shares rose In morning trading following reports that the522 words
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Article418 1977-09-02 7 SYDNEY: The market closed mixed in selective and quiet trading on Thursday, dealers said. Santoa fell 25 cents to A 52.35 and Vmmgma four to 36 cents while Waatarn Mining eased two to $1.27 after overnight losses In London. Uraniums were mixed with Pancontiaaatal 40 higher at $9.40 and418 words
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Article166 1977-09-02 7 MANILA: The market closed mixed on Thursday with mining and commercial averages rising modestly while oils posted a small decline, dealers said. Turnover decreased slightly to 3.17 million pesos from yesterday's 3.87 million. Atlas rose four points while Philex and Lepaato were up one and two points respectively as166 words
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Article97 1977-09-02 7 SEPT 01 Bahts Asia Fibre Bangkok Bank Bangkok Invest. Bangkok-Metro-politan Bank Bata BerllJucker Charoong Thai Wire Dumex DusltThanl Faber Merlin First Truat Indo-Thal Industrial Finance Corp J And J Ho Jalaprathan Cement Karnasuta LeeKwangMln Metal Box Rama Towers Safety Insurance Saha Union Serin Suk Slam Cement Slam City Cement97 words
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Article236 1977-09-02 7 AMSTERDAM: The market closed lover following Wall Street's overnight decline dealers said. Takso and Hoogovan* led Dutch Internationals lower. Elsewhere, KNSM closed 0.80 guilders lower. Declined further included KLM, Heiaekea, Pikhoed and B*rgwa. Nedlloyd and Vaa Oununn were among firmer sports. State loans firmed. AUG 31 FU Ahold Akro236 words
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Article174 1977-09-02 7 BRUSSELB: The market was lower In quiet trading, but with some fairly sharp price movements on Wednesday, dealers said. Hobokan and FN were the only major local Issues to rise against the trend, but falls included Societe Generate, Atturlnniloo Miniere, UCB, Tm NhU|m, and Cockerill. which fell on 1U174 words
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Article283 1977-09-02 7 FRANKFURT: Shares closed barely steady on Wednesday, efter a weak start gave way to a recovery on some foreign buying orders, dealers said. Maaaeeaaan closed two marks lower, BBC lost 33.50 marks. Bayevahypo three and BHP Bank 2.50, but changes in other leading shares were mainly limited to one283 words
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Article149 1977-09-02 7 MILAN: The market closed actively firmer on Wednesday, influenced by recent government measures to help the economy and investments, dealers said. Against the trend in industrials Fiat and both Pirellis declined. IFI privileged was also lower in flnanclals as was Mediobanca In banks. Assicurasioni General! was marginally higher. AUG149 words
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Article358 1977-09-02 7 PARIS: The market advanced strongly on Wednesday, following cuts In bank and commercial bank base rates and government measures to support certain parts of the economy, dealers said. Most sectors were firmer, particularly constructions, stores and foods, with BouyguM, Parrier and Ra Wineries De St Louis adding ftve or358 words
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Article272 1977-09-02 7 ZURICH: The market closed Irregularly lower In generally quiet dealings on Wednesday, dealers said. Swiasair bearer, which yesterday reached a high for the year, met some profit-taking while its registered shares advanced in fairly active dealings. Leading banks and Insurances were neglected. In flnanclals, both bally stocks continued to272 words
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Article373 1977-09-02 7 JOHANNESBURG: Oold shares closed quiet below the days best levels, on Wednesday, although selective stocks such as Winkeis and Veal Reefs held gains, dealers said. Mining flnanclals were also firmer with AmgoM 20 up at 2390. De Beers rose four cents to 523. Metals and industrials were quiet, althouch373 words
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Article311 1977-09-02 7 TORONTO: Share prices closed sharply lower In moderate trading on Tuesday after large losses In the final hour. The composite Index was off more than 4 1/2 points and declining Issues outnumbered gains 228 to 141. Among companies reporting higher earnings, Biltmore Industrie* added five cents to Cs3 Braacan311 words
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Article1174 1977-09-02 7 NEW YORK: The stock market lost more ground In the morning on Wednesday but gradually recovered most of Its losses by the closing, leaving prices mixed In moderate trading. The mini-rally, which analysts attributed mostly to Internal factors, was aided late In the session by a White House1,174 words
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Article73 1977-09-02 7 FINANCIAL TIMES INDUSTRIALS Wednesday 500.9 Tuesday 490 Week Ago 483.6 DOW JONES AVERAGE INDUSTRIALS Wednesday 881 49 Tuesday 858 89 Week Ago 862 87 LONDON DOLLAR PREMIUM Wednesday 85* to 85S Tuesday 86* to 87* H K HANG SENG Wednesday 427.73 Tuesday 430 22 Week Ago 421 80 SYDNEY73 words
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Advertisement528 1977-09-02 7 BUSINESS TIMES Airline Directory Aeroflot Soviet Airlin«s 110-112 Show Ctntr*, Orchard Rood, Singapore 9 (T«i: 377.111) Air Ceylon 302-1, 3rd Floor, Marino House Shenton Way, Singapore (1) (Tel: 221 9388) Ground. Floor, ICt Building, Shenton Way Singapore 1 (Tel: *****11) 16th Floor, UIC Building, Shenton Way, Singapore 1 (Tel: 2205.277)528 words
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COMMODITY REPORTS AND PRICES
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Article448 1977-09-02 8 THE Singapore rubber market opened marginally higher, than fluctuated narrowly around the 205.75cent mark for September One RSS until midday when a wave of upcountry buying took prices about one cent higher. Trading was inhibited by reserve of sellers and turnover was reduced. The morning448 words
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Article368 1977-09-02 8 Prices in cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int 1 RS S prompt f o b. 202 50 203 50N 205 00 206.OON Int. 1 R.S.S. September 203 75 204 00 206.50 207 00 Int 1 R.S.S. October 205 75368 words
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Article109 1977-09-02 8 NOON SSR and SMR prices yesterday R.A.S. Hepiat nber October (Current Mth) (Forward Mth) Buyer* Seller* Buyer* Seller* 1 cent* perkf) (centa per kg) SSR 20 <1-ton pallet) 197.00 199.00N 197.00 199 00N SSR 50 (1-ton pallet) 194.50 196 50N 194 50 190.50N M.R.E.L.B. SMR5CV (1-ton pallet)109 words
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Article31 1977-09-02 8 Rubber: Sept 1 Singapore: September 206.50 cents (up 2.75 cents.) Malaysia: September 206.75 cents (up 2.25 cents) Tin: $1,653.75 (down SI 1.25) Official offering: 172 tonnes (down 58 tonnes)31 words
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Article186 1977-09-02 8 BANGKOK, Thurs. Indicative prices quoted here today were: (US dollars per tonne fob basts Bangkok) White Rice: 100 pet Ist class 306. 100 pet 2nd 292. 100 pet 3rd 288, 5 pet 277, 10 pet 255, IS pet 252, 20 pet 249, 25 pet 240, 35 pet unq Broken:186 words
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Article457 1977-09-02 8 IMPROVED sentiment In International markets for edible oils helped arrest the decline in the prices of coconut on the Singapore produce market yesterday. Reports of tight supply situations for the popular oils, especially soyabean oil, generated some buying Interest In the local market where millers were reportedly holding457 words
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Article338 1977-09-02 8 LONDON. Thurs. Coffee opened slightly easier In line with expectations. September was the only traded position, down more than £35 at £2,785. Only 131 lots were traded compared with 441 at yesterday's opening. New York's lower close accounted for some selling, traders said. September continued to display more weakness338 words
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Article74 1977-09-02 8 C.I F Rotterdam. US dollars per ton. LONDON: Wednesday Prariooa Malaysia 5% ffa bulk Nov 425 sir 425 sir Sumatra 5% (fa Aug 502.SO sir 562.50 sir Sept ♦87/487.50 pd 485/487.50 pd Oct 455 slr/450 pd 440 sir Nov 440 sir 427.50 pd Dec 435 sir 425 pd74 words
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Article139 1977-09-02 8 THE Straits tin price in plcul on an official offering down 58 tonnes to 172 tonnes. In LONDON yesterday, tin turned sharply lower In Irregular trading In the morning, easing back £90 for cash ana £85 for forward metal. On Wednesday, tin closed £55 higher for cash139 words
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Article243 1977-09-02 8 LONDON, Thurs. Futures opened steady in a good two-way trade house activity with prices £0.30 to £1.50 per tonne higher than yesterday afternoon closing levels. Sales totalled 899 lots. Dealers felt the steadier undertone reflected fresh buying Interest and shortcovering in front of the ISO talks in Geneva later243 words
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Article243 1977-09-02 8 LONDON, Thurs. Terminal opened £5.50 to £20 Btr tonne down an sales of 9 lots, more than half of which consisted of self-tra-ding interests. Dealers said once the market had discounted the easing back In New York, a rather hesitant tone developed. This probably reflected the contrast between the243 words
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Article294 1977-09-02 8 HONGKONG, Thurs. The cotton futures market closed mixed In fairly quiet trading, with trade house selling towards the close, dealers said. October fell 1.62 US cents on trade house selling, and July lost 0.05 cent while other months rose 0.19 to 0.63 cent, they added. Total turnover fell294 words
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Article190 1977-09-02 8 CHICAGO, Thurs. Soybean futures retreated late In the session yesterday, losing early gains and finishing unchanged In the September to 3-1/2 cents a bushel lower. Prices advanced initially on shortcoverlng and speculative buying generated by the continued strength In soybean meal, Improved cash market demand and possible harvest delays190 words
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Article74 1977-09-02 8 CHICAGO, Thurs. Wheat futures yesterday closed with gains of 1* to cent a bushel after ranting narrowly to either side of Tuesday's close. Early strength In soybean futures, the Ughter-than-expected wheat deliveries in the morning and export market activity prompted early speculative buying which took prices higher. Exporter selling74 words
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Article306 1977-09-02 8 LONDON. ITiurs. Copper was again firmer on the London Metal Exchange this morning, moving up around £10 compared with yesterday's ring close In line with New York's overnight trend. The bulld-up of tension in central Africa with reports that Zamblan territory had been bombed following an exchange of fire306 words
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Article197 1977-09-02 8 LONDON, Thurs. Silver was a little easier this morning, reflecting gold and New York's disappointing performance overnight. Cash was down 0.85 pence an ounce and Three Months fell 0.5 pence. On Wednesday, silver closed 1.5 pence per troy ounce higher all round. During very quiet afternoon ring dealings, values197 words
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Article350 1977-09-02 8 ON the Singapore market yesterday the kllobar opened lower at 5511,559, down $33 on the previous closing. Prices fluctuated In a narrow range and closed at 5511,548 with good buying support. On the London market, the metal opened at U*****.70/ 90 and closed at the same level. The London350 words
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Article88 1977-09-02 8 LONDON, Thurs. Zinc ended the morning £0.50 lower for cash and £0.50 higher for Three Months. Trade sources said market generally maintained last night's higher levels but appeared rather hesitant on lack of follow-through to yesterday's good trade covering interest. In addition, despite no further talk on rumours of88 words
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Article69 1977-09-02 8 LONDON, Thurs. Lead was higher In unison with copper this morning, gaining around £5. On Wednesday, lead finished £8.25 up for cash and 17.50 higher for Three Months. Market sources said prices continued the morning's firmer trend with followthrough buying and shortcoverlng encouraged by the Improved sentiment in copper69 words
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MONEY AND EXCHANGES
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Article564 1977-09-02 8 THE West German mark continued to be the subject of some speculative activity on the forex market yesterday but other currencies tended to remain stable. The opening rate for USS/DM was DM 2.3170/80 but the mark aulcklv sank to as low as DM 2.3235/45 under selling pressure. The West564 words
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Article59 1977-09-02 8 acbc C>« First Chicago CM AI|(imm Bank CM Citibank CM Bangkok Bank 7 HSBC CM Bank of America CM Indosuez Bank of China 7 Malayan Banking CM Bank of Tokyo CM Mitsui Bank CM Bank Nefin Indonesia OCBC CM T OUB CM Chartered Bank CM UCB 759 words
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Article143 1977-09-02 8 Asian ratep ASIAN currency deposit Interbank rate* as at cloae on Sept 1: US Dalian (Spat) Ofhr BU 7 days 1 mth 2 mths 3 mths mths mths 12 mths VI8 8 5/16 «7/l« ..•1/J 11/10 .6 3/4 .«11/16 6 3/16 3/l« 6 4/16 3/1 4/1 U/U Sw. Ft*. Dm.143 words
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Article100 1977-09-02 8 Euro rates LONDON, Thurs. Eurodollar deposits were technically higher in quiet trading, dealers said. Periods rose by up to K point on the Friday dealing technicality. Light rollover business and small demand from Singapore was noted. Short-dates firmed with overnight around 23-9/16, 23-7/16 while seven days fixed rose to 6-1/4,100 words
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Article191 1977-09-02 8 NEW YORK, Thurs. The dollar yesterday closed slightly weaker after a volatile day marked by reactions to New York Federal Reserve Bank intervention in the government securities market and new rumours of impending Swiss exchange controls, dealers said. The dollar opened weaker than its overnight levels and fell191 words
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Article165 1977-09-02 8 LONDON, Thurs. The dollar firmed against leading currencies In quiet opening exchanges trading, dealers said. IT rose to 1.7422/ 24 against sterling, up six points from overnight on midweek technical adjustment factors and edged higher to 2.4003/13 Swiss francs from 2.3930/ 45 overnlght on Continental switching into dollars, but165 words
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Article146 1977-09-02 8 TOKYO, Thurs. The US I dollar for overnight delivery closed slightly higher at 267.95 yen, compared with a 267.60 opening and 267.43 at yesterday's close. The Bank of Japan Is believed to have sold a small amount of dollars at around 268.00 In the early session to check a146 words
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Article125 1977-09-02 8 HONGKONG, Thurs. The US dollar firmed slightly in fairly active trading to 2.3213/23 marks from Its New York midpoint close of 2.3175, dealers said. The US unit opened at 2.3185/95 and rose on European buying to close at Its day's high. The dollar also firmed slightly in quiet trading125 words
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Article50 1977-09-02 8 ZURICH exchanges closing quotes on Aug 31: US 2.9913-3028 UK 4 1615-1700 Can 2 2255-2275 W Germ 103.21-31 NCUI 07.77-00 France 40.77-01 Belf 0 71-1/2-71-1/2 Denm 38 80-64 Nor* 7V-63 Swed 40.31-31 Italy 0 2712-2715 Austria 14 90-52 Port 5 00-00 Spam 2.02-3/4-83-1/4 Art 0 50-00 Japan 0 80-1/4-80-3/450 words
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Article50 1977-09-02 8 AUSTRALIA/NZ exchanges on Sept I: Australia Sterling 0.8374/ 0 8300 US doDar 1.1072/ 1 1024 mall buying ratee ÜBdolla* 1.1329 ninety forward buying ratea OTdoltr 1.0006 New Zealand: Sterling 0 5900/ 0 9538 US Hotter 0 9753/ 0 0053 Ninety-day forward rate: Sterling 0 5701 U8 dollar 0 090050 words
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Article313 1977-09-02 8 LONDON, Thurs. Dollar Eurobonds were a firm feature, reflecting continuing hopes of steady to declining interest rates In North America and some stock shortage, dealers said. The following prices are Wednesday as Thursday's were delay. Straight! Bid Offer Austria 8* 90 102* 103 Bell Canada 8* 88 104* 105*313 words
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Advertisement172 1977-09-02 8 ®r y Don't let the language barrier stop you from wider 0 contacts > U v# v <v) V.e«> r p- e 3' o v \v°l' ,o*> xe e^ G c,P^\^ e Jnt^ e .r\*e *I*4. s Jtsi \o e \N i t* nN o G e ai <3 to\e172 words
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TRANSPORT AND COMMUNICATIONS
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558 1977-09-02 9 OIL TANKERS Economist INDEPENDENT owners of large oil tankers are beginning to whisper, still behind closed doors, that they do wish they could be allowed a sort of poor man's cartel to set fixed minimum rates for charters. With lald-up tonnage exceeding 30Economist - 558 words
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Article296 1977-09-02 9 SINGAPORE AIRLINES (SIA) and Cathay Pacific Airways (CPA) may launch Into new areas of cooperation to achieve economies of scale, vital In the competitive airline industry today. At the signing ceremoney of a reciprocal ground handling agreement between SIA and CPA yesterday, Mr. J.H. Bremridge,296 words
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Article134 1977-09-02 9 UPI WASHINGTON, Thurs. President Carter must decide by Sept 24 whether to continue landing rights for the Supersonic Concorde at Dulles International Airport in nearby Virginia. The date coincides with the expiration of the 16month test period for the Concorde which was approved by the Ford Administration.UPI - 134 words
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Article61 1977-09-02 9 Reuter NEW YORK, Thurs. Delta Air Lines and Pan American World Airways In separate statements released here repeated their earlier requests that the Civil Aeronautics Board promptly grant them exclusive authority to operate non- stop Atlanta to London services. The statements were summaries of oral presentations byReuter - 61 words
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292 1977-09-02 9 Economist COPENHAGEN, Thurs If there Is a Danish shipbuilding Industry in the 1980s It won't be due to government subsidies. Denmark is one of the few countries that has not responded to the world shipbuilding crisis with subsidles for Its shipyards, which are amongEconomist - 292 words
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Article72 1977-09-02 9 Reuter LONDON, Thurs. Dockers at the Royal Group, West India and Mlllwali Group and Tilbury Docks voted to return to work today, port sources said. They said the men decided to end their strike which commenced last week when employers agreed to their request for on theReuter - 72 words
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Article35 1977-09-02 9 Reuter LONDON, Thurs. Tht Royal Netherlands Navy has ordered 16 lynx helicopters from Westland Helicopters Ltd of the UK, the British Ministry of Defence announced. The purchase price was not given. Reuter.Reuter - 35 words
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Article, Illustration375 1977-09-02 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Altalr (2300 after Ellen Bakke) 33/34 Bunga Mas (2300 after Potol Island) 19 Esqulllno (0700 after Ovanes Tumanyan) 1/2 Fujltsukl Maru (Tanker) (after Palm Sea Horse sails subject gas free P/O) 13/14 King Dragon (0600) 24 Korotan (2300 after Prlmera Peak) 24 Loon375 words
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379 1977-09-02 9 Reuter ROME, Thurs. One of the world's biggest shippers Is a quiet Danish international civil servant who runs a US$6O million (Ssl46 million) operation from an office In a Rome suburb. He reckons he ships more than any organisation apart from a few bigReuter - 379 words
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Article207 1977-09-02 9 AP TEL AVIV. Thurs. Samuel Flatto-Sharon, a French fraud suspect turned Israeli Member of Parliament, Is bidding against Saudi OH billionaires for the retired French luxury liner "France." Flatto-Sharon said In a telephone Interview Jesterday that he was heading an international group of 15 businessmen fromAP - 207 words
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238 1977-09-02 9 Reuter TOKYO, Thurs. The Japanese Transport Ministry said it will ask for appropriation of 110.6 billion yen In the national budget for fiscal 1978 to create a new system to finance imports of aircraft. The planned finance system is designed to substitute for creditReuter - 238 words
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Article148 1977-09-02 9 AFP PARIS, Thurs. The French Government "clearly cannot accept" the Soviet Union's refusal to allow the European Airbus to land at Moscow, Transport Minister, Marcel Cavallle, said yesterday. He said that the service by the wide bodied airbus was particularly justified on the Paris Moscow run whereAFP - 148 words
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178 1977-09-02 9 Reuter PRETORIA, Thurs. The South African Government announced the Atlantic port of Walvis Bay will from today cease to be part of South West Africa (Namibia) and belong to South Africa. A proclamation said It was expedient and desirable that Walvis Bay, theReuter - 178 words
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776 1977-09-02 9 NYT NEW YORK, Thurs. The Industrial competition to sell domestic communications satellites has Intensified again with the announcement from Hughes Aircraft Co. of El Segundo, Calif., that It has been chosen for. advanced negotiations on a new generation of Anlk satellitesNYT - 776 words
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Article594 1977-09-02 9 ARRIVALS Service Local Operator Number Time From KAL KE807 0015 SEL CAL CI331 0040 TPE/HKO/KUL MAS MH682 0810 KCH PAN PA847 0810 SFO/HNL/GUM OIA GA900 1000 HLP OIA GA980 1030 HLP SIA SQ211 1045 HLP OIA GA944 1055 PKU OIA GA908 1100 MES PAL PR501 1115 MNL594 words
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Article284 1977-09-02 9 AP LONDON, Thurs. Although grain chartering was again the most prominent section of business yesterday, there was little In the way of fresh Inspiration and few representative fixtures of note. North American grain fixing included a booking by Tradax of a 15,000-ton cargo barley from the GreatAP - 284 words
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Advertisement264 1977-09-02 9 THE ASIAN WALL STREET JOURNAL. In the fast paced competitive world of business, timely information can often mean the difference between success and failure. That's precisely why thousands of Executives have come to rely on THE ASIAN WALL STREET JOURNAL These men know and appreciate the concise, comprehensive way the264 words
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Article, Illustration1445 1977-09-02 10 A HESIFLATING WORLD Economies will recover when confidence does. Confidence will recover when economies do. Economist MAXIRECESSION. so theory goes, ought to lead to maxlrecovery. In all the big Industrial countries of the world, spare capacity abounds, so expansion can go fast and far beforeEconomist; Source: OECD - 1,445 words
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1190 1977-09-02 10 V.K. CHIN - By V.K. CHIN IT FINALLY happened. The Malaysian insurance industry's worst fears have been confirmed. The first insurance company has collapsed. After being allowed to struggle aimlessly for a few years, First General Insurance has been suspended by the Finance Ministry's Insurance Division, leaving thousands1,190 words
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Article, Illustration1140 1977-09-02 10 JIMI NGOH - BLEAK FUTURE AHEAD By JIMI NGOH VARIOUS predictions had been made by experts that tin reserves In Malaysia would be exhausted some bv 1909, and others not too long ago set the date at 1976. All these had been proven false but they Indicated to1,140 words
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Advertisement33 1977-09-02 10 Peter Benchley 'Better than JAWS, ever escalating shocks' -TIME 'Cracking entertainment' -DAILY TELEGRAPH s: A. 'For the second time -the book you can't put down' -DAILY MAIL READ THE BOOK SEE THE FILM33 words
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300 1977-09-02 11 INTERMAONETICS Singapore, a Joint-venture with the Intermagnetlcs Corporation of California, expects to double Its present production capacity of cassette tapes with the introduction of additional machinery which it Intends to buy before the end of the year. The plant, set up in August300 words
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Article255 1977-09-02 11 Reuter JAKARTA, Thurs. President Suharto has thrown his full weight behind Indonesia's current campaign against corruption and Illegal levies, saying It would be successful If the population wholeheartedly supKorted It and did not esltate to Implicate corrupt civil servants. The Indonesian people, especially businessmen, shouldReuter - 255 words
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264 1977-09-02 11 UPI SEOUL, Thurs. South Korea today announced a medium term overall resources budget (ORB) programme, forecasting an average 10 per cent economic growth rate during the 1977 1979 period. The three year programme, prepared by the Economic Planning BoardUPI - 264 words
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Article94 1977-09-02 11 Reuter HONOKONO, Thurs. The colony's narrowly defined money supply Ml fell 0.56 per cent In July to HK516.02 billion (558.32 billion) after a 2.1 per cent rise in June, Banking Commission figures show. The more broadly defined M-2 aggregate rose 0.82 per cent to $53.09 billionReuter - 94 words
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274 1977-09-02 11 BOUSTEAD Engineering has secured two licences to manufacture axial Industrial fans and airport ground handling equipment locally. There are also a number of others In the pipeline .according to its managing director, Mr. Roland Miller, who recently returned from a seven-week tour of274 words
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Article134 1977-09-02 11 THE recently elected Member of Parliament for Buklt Merah and currently the Deputy Director Research (Field) of the National Trades Union Congress (NTUC) Mr. Llm Chee Onn will take charge of the Singapore Industrial Labour Organisation's (SILO) Vosper branch. According to the latest Issue134 words
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Article96 1977-09-02 11 BEER and stout are now being sold In Singapore in metric packs, said the Singapore Metrication Board. In its latest newsletter, Our Metric Way, it tells the consumer not to worry about the move as there will be no Increase In prices. The board, it said, ensures96 words
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430 1977-09-02 11 KUALA LUMPUR, Thurs. Singapore and Japan remained Peninsular Malaysia's main buyer and supplier respectively In the first half of the year, according to figures compiled by the Department of Statistics. In the period, Singapore bought M 5925.4 million worth of goods from Peninsular Malaysia $47.3430 words
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565 1977-09-02 11 MORE companies prefer to own their copier machines rather than rent them. This is the consensus of many In the trade who have reported a sizeable Increase In demand for copiers. One reason is the growing acceptance of copiers as essential office Items.565 words
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275 1977-09-02 11 AFP HONOKONO, Thurs. The structure of Hongkong's trade has altered m the last 15 years but less dramatically than many people assume, the American Chamber of Commerce in Hongkong states In the latest issue of its Journal, Amcham. It noted that the top three markets,AFP - 275 words
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Article88 1977-09-02 11 Reuter HONOKONO, Thurs. The average liquidity of Hongkong banks rose to 45.72 per cent In July from 44.89 per cent In June, Banking Commission figures show. Deposits rose to HK948.17 billion (8925.38 billion) from 847.83 billion In June. Loans and advances In Hongkong fell toReuter - 88 words
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260 1977-09-02 11 SETRON LTD, a leading local assembler of colour television sets, has reorganised Its television cabinet-making section because of the trend towards plastic cabinets for sets. Only a handful (more than 10 workers) have been retrenched, said Its personnel manager, Mr. Michael Ang,260 words
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Article316 1977-09-02 11 AP Reuter MANILA, Thurs. The president of the World Pood Council (WFC) said yesterday he hopes President Carter's decision to idle millions of hectares of wheat lands does not signal the return of "the old (US) policy of paying farmers not to plant. But whileAP; Reuter - 316 words
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324 1977-09-02 11 AFP LONDON, Thurs. China's annual copper needs may increase by a massive 60 per cent over the next eight years, to 500.000 tonnes, according to Alexander Sutulov, executive chairman of Chile's Mining and Metallurgical Research Centre, writing In the latest Metal Bulletin monthly. TheAFP - 324 words
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244 1977-09-02 11 AFP KUALA LUMPUR, Thurs. A government-backed consortium has been formed to undertake the construction of 10,000 units of houses In Saudi Arabia, it was announced here today. The Minister of Housing and Village Development Datuk Michael Chen said that the seven-member consortiumAFP - 244 words
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Article126 1977-09-02 11 AN Australian company, Australian American Engineering Corporation, which opened a branch office In Singapore late last year, Is to take part In the Machine Asia exhibition to be held at the Hyatt Hotel from Nov 7 to 11. The AAEC supplies spe-cialist-engineering equipment, such as valves126 words
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Article33 1977-09-02 11 Reuter HONGKONG, Thurs. Hongkong's manufacturing employment rose to 775,800 at June 15 from 756,300 In March 1077 and 748,000 In June 1976, the Census and Statistics Department said. Reuter.Reuter - 33 words
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Article102 1977-09-02 11 AFP NEW DELHI, Thurs. India has won a contract from Saudi Arabia for providing managerial services to the Yanbu support port, now under construction in Saudi Arabia, It was announced here last night. The chairman of the state-run Dredging Corp. of India, Mr. O P.AFP - 102 words
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Page 11 Advertisements
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Advertisement326 1977-09-02 11 APPOINTMENTS An international manufacturing company invites ex-] perienced ENGINEERS to fill the position of: Manager ENGINEERING DEPARTMENT Remuneration 5530 000 $$40 000 per annum DUTIES/RESPONSIBILITIES Will be accountable for engineering design, costing and planning Will have to co-ordinate and liaise with the company's other departments namely Industrial Engineering and Production326 words
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Page 11 Miscellaneous
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Miscellaneous586 1977-09-02 11 TWO-IN-ONE CROSSWORD 1 fl2 30 hi CYPTIC PUZ ZLE ACROSS 4 Adopting a questioning attitude? 7 Foremost water-carrier? (4, No place to monkey with the buaers! (8) It Fret at getting a mere bone in a restaurant (9) 13 A dopey sort of Journey (4) 14 Non-flying New Zealander U586 words
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317 1977-09-02 12 Reuter BERLIN, Thurs. West Germany's trade surplus will show a clear increase this year, but foreign demand Is growing too slowly to boost the country's economy further, the Berlin Economic Research Institute said. Exports and imports rose by some six per cent hi realReuter - 317 words
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Article294 1977-09-02 12 AP LONDON, Thurs. Britain's Civil Aviation Authority (CAA) today gave air traffic assistant controllers an extra eight hours to decide whether to call off their work to rule action or t> suspended. The controllers' union said a strike might begin during the reprieve. TheAP - 294 words
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Article, Illustration120 1977-09-02 12 Mr. Lua Cheng Eng (above) has been appointed chief executive and general manager of Neptune Orient Line* (NOL). Mr. Lua, 38, succeeds Mr. Goh Chok Tong, who left NOL yesterday to assume his new appointment as the Senior Minister of State for Finance.120 words
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Article163 1977-09-02 12 Reuter TOKYO, Thurs. Japan's external reserves rose US$l2B million (Ss3l3j6 million) In August to 917.77 billion, the Finance Ministry said. This compares with the $16.29 billion at the end of August, 1976. Since January this year Japan's external reserves have Increased by $1.27 billion. Meanwhile, theReuter - 163 words
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Article55 1977-09-02 12 Reuter MANILA, Thurs. The fourth Asean Inter* parliamentary Organisation (AIO) conference will be held in Singapore in August next year, conference officials aaid today. This was agreed upon during the fourth day aoe»ion of the third AIO conference in Manila by Asean parliamentarians Cram Indonesia, the Philippines,Reuter - 55 words
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999 1977-09-02 12 THE government provides a subsidy of $46 for every man, woman and child living In Housing and Development Board flats. This was revealed yesterday In the latest HDB annual report, which added that the subsidy Is expected to Increase. By the end999 words
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254 1977-09-02 12 SINGAPORE Airline* (SIA) has obtained approval for two additional flights to Manila. This brings the airline's total number of flights to the Philippine capital to seven a week. This was announced yesterday by Mr. Jose Aspires, chairman of the Philippine's Civil254 words
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278 1977-09-02 12 AP MANILA, Thura. Filipinos hoping to go abroad today following President Marcos' decision to lift the travel ban found themselves facing a taxman's ultimatum: "Pay or stay." Without warning, today's newspapers reported that the presidential travel decree, Increasing by 400 per cent the departureAP - 278 words
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Article808 1977-09-02 12 LONDON, Thura. Stock prices closed lower aa leading equities fell back after a brief mldsesslon rally following results from I CI and BP, dealers said. Oovernment stocks were around 1/16 easier on the day aa a slightly harder tone developed In the afternoon following indications that the minimum808 words
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Article79 1977-09-02 12 THE CIVIL aviation authorities of Singapore and Indonesia have agreed to increase their respective capacities on- the Singapore-Jakarta sector. From Nov 1, Singapore Airlines (SIA) may operate 8727 aircraft four times dally and 8737 aircraft once dally. A maximum of two of the 8727 services may79 words
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Article42 1977-09-02 12 AP MANILA, Thurs. The Asian Development Bank approved today a loan to the Philippine Government of US$lO million (3139.2 million) for an engineering education project designed to benefit about 50,000 engineering students at 20 colleges and universities. AP.AP - 42 words
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Article, Illustration135 1977-09-02 12 MR. LAWRENCE Mmh (above), who recently resigned u managing director of Singapore Slipway and Engineering, a wholly-owned subsidiary of Keppel Shipyard, has set up a new company, Tech 4 Marine. The new company deals with both shipbuilding and shiprepairing. Mr. Mah was transferred from135 words
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173 1977-09-02 12 PEN AN Q, Thurs. Four more British firms have decided to Invest in Malaysia two In the processing sector, one manufacturing thread and the other, electrical goods. British Trade Commissioner R.M. Hunt disclosed this today after calling on Chief Minister Dr. Llm Chong173 words
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343 1977-09-02 12 SINGAPORE'S exports of crocodile and snake skin products are on the rise. In 1976, It exported $11.8 million worth of undressed crocodile and snake skins compared with 18.1 million in 1975. Of the total, domestic exports have more than doubled to almost343 words
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Article258 1977-09-02 12 Reuter EDINBURGH, Thurs. Prime Minister James Callaghan said cuts in Britain's standard of living are at an end and, provided the country does not return to the conditions of 1974-75, an Improvement Is in prospect. He said that If Increases In earnings are kept withinReuter - 258 words
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146 1977-09-02 12 KUALA LUMPUR, Thurs. Malaysia's success In achieving growth without having to suffer inflation had been described as a "rare phenomenon." The deputy director-ge-neral of Oatt (General Agreement of Tariff and Trade), Mr. Madan Mathur, said today he found It unusual that a country could146 words
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Page 12 Advertisements
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Advertisement96 1977-09-02 12 FROM THE COUNTRY THAT GAVE US HELEN REDD Y& OUVIA NEWTON-JOHN we now present Jackie Darnell Her warmth, style and dynamism is just unbelievable. Her performance has DRIVE PACE.. .EXCITEMENT.. .so critics say. See for yourself. Hear for yourself. Limited Season only. Also appearing nightly at the Neptune. LAST FIVE96 words
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Advertisement205 1977-09-02 12 Why everyone wants to copy our copier. Until now, a good quality copy was a yet excellent tonal gradation. And with of price. The only way to obtain a clear, sharp, deep black copy was to invest in an expensive plain paper copier. Then came our Omega 303 an electrostatic205 words
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