The Business Times, 21 September 1977
1977-09-21
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The Business Times
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Title Section10 1977-09-21 1 BUSINESS TIMES M.C.(P) 300/1/77 WEDNESDAY, SEPTEMBER 21, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article62 1977-09-21 1 Reuter KUALA TRENGGANU, Tues. Exxon's oil project off the coast of Trengganu is expected to begin production at the end of the year, State Chief Minister, Datuk Wan Mokhtar said today. Datuk Haji Wan Mokhtar said he was told that two of the eight platforms had been completedReuter - 62 words
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Article40 1977-09-21 1 Reuter TOKYO, Tues. Japan granted Thailand a 25year 9.6 billion yen (5587.8 million) loan at an Interest rate of 314 per cent to help it complete an electricity distribution project, the government's Overseas Economic Cooperation Fund said.Reuter - 40 words
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Article38 1977-09-21 1 Reuter MUNICH, Tues. West Germany's gross national product will probably rise a real 3.5 to four per cent this year compared with initial official 1977 forecasts of five per cent, Bundesbank president Otmar Enminger said. ReuterReuter - 38 words
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Article43 1977-09-21 1 AP VIENNA, Tues. Some 250 representatives of government and private industry are attending a four-day symposium of the Organisation for Economic Cooperation and Development (OECD) on Trans-border Data Flows and Protection of Privacy Impacts and Trends which opened here today. AP.AP - 43 words
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Article35 1977-09-21 1 Reuter MANILA. Tues. The government's Sugar Commission (Philsucom) plans to put up two more sugar refineries within the next two years to complement the five already in operation, Philsucom sources said today. Reuter.Reuter - 35 words
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Article64 1977-09-21 1 Reuter BANGKOK, Tues. A network of undersea and onshore pipelines bringing natural gas from the Gulf of Thailand to Banekok will cost this country US$4O4 million (Ssl billion) the Industry Ministry announced today. Industry Minister Perm Limpisawat said a total of 16 Thai and overseas financial institutionsReuter - 64 words
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Article42 1977-09-21 1 UPI ATHENS, Tues. Mrs. Jacqueline Kennedy Onassls will receive US$26 million (5564.4 million) from the estate of her late husband, Aristotle Onassls, under the terms of an out-of-court settlement, a member of the Onassls foundation board since today. UPI.UPI - 42 words
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Article89 1977-09-21 1 UPI NEW YORK, Tues. Blue-chip stocks, which fell to a 21-month low the previous session, headed even lower early today amid investor concern about the economic slowdown and rising interest rates. The Dow Jones industrial average was off 1.90 points to 849.62 shortly before 11 a.m. It fellUPI - 89 words
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Chief Price Changes
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Article, Illustration185 1977-09-21 1 TRADING was quiet and uncertain on the Stock Exchange of Singapore yesterday. The market opened with more sellers about and share prices edged lower under a combination of stale bull liquidation and scattered profit-taking. However, on the strength of a few volatile shares, the Business Times index185 words
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Article112 1977-09-21 1 Foils Most active Perils Lien Hoe 1.37 1.90 -.10 -.08 Olympia Sim Llm 141,000 127,000 C Storage Olympia 2.21 1.80 -.07 -.08 M Weaving Haw Par 128.000 114.000 P Bank BRaya Bolton 2 34 1.18 1.31 -.05 -.04 -.04 Total Turnover 2.21 M Total Value: MS3.94 M112 words
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Article, Illustration1165 1977-09-21 1 EXPORTS SLACKEN, CoL HIGHER AUGUST has proved to be a wicked month for Singapore economic Indicators. According to figures from the Department of Statistics, exports are slackening and Inflation is beginning to heat up again. These are easily the two worst bits of news about1,165 words
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Article120 1977-09-21 1 TOKYO, Tues. The fourth and fifth yen loans worth $42 billion yen (***** million) which Japan has pledged to give Malaysia, will carry only a four per cent Interest with a repayment period of 27 years Including a seven-year grace period. Disclosing this here today Malaysian120 words
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701 1977-09-21 1 JAPAN'S Interest rates are now at rock-bottom the lowest since the end of the last war. This situation is expected to attract good borrowers from Singapore and other nations to float yen bonds In the Tokyo market. Leading Japanese securities houses are already701 words
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Article372 1977-09-21 1 THERE is a constant dialogue between the government, employers and educational Institutions to determine Singapore's manpower needs, and this has resulted In a constant adjustment of training facilities to cope with demand. This point was stressed by Dr. Pang Eng Fong, director of the Economic Research372 words
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240 1977-09-21 1 Reuter LONDON, Tues. British dealers of Japanese Datsun cars have formed an action committee to protest against what they called "regular attacks" on Japanese car imports "from certain interested quarters." The dealers at the same time called on Datsun UK, the sales arm ofReuter - 240 words
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458 1977-09-21 1 THE Sin Chew Jit Poh (Singapore) Ltd offer of six million shares to be made before the end of next month will allow Investors to get In on a thriving $15 million a year business. The newspaper, which claims to have the largest circulation458 words
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160 1977-09-21 1 Reuter LONDON, Tucs. Unemployment In Britain dropped slightly this month but figures released today also showed the number of hard core Jobless was still rising. In mid-September 1,609,063 people were out of work, a drop of nearly 27,000 on the post-war record figureReuter - 160 words
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Page 1 Advertisements
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Advertisement74 1977-09-21 1 With a Reputation for Unrivalled Security and Fair Dealing over 132 years, Our Clients can be Assured... Royal Insurance (Incorporated in t ngland > looks after you. Fast 18th Fir., Ocean Building, Collyer Quay, S'pore 1. Tel: ***** (10lines) I Oveneti News/ TV Radio —P2 Overseas News/ Crosswords —P3 Local74 words
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Advertisement103 1977-09-21 1 SEE BACK PAGE n m *iv m -*S is Chase makes your tiavel easier... Chase can supply you with travelers' checks, change Singapore money into any foreign currency you need, and transfer funds to whichever country you require. Chase has a global network of more than 210 branches in over103 words
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Advertisement226 1977-09-21 1 NOW' Cool healthy pollution-hee driving is POSSIBLE w.f*mAßuenu COOL. AAA S TEFt PUREACE CAP AIR CONDfTIONEB AIR PURSER T®f CHUNG SHAN MOTORS 5-11 GOLDHILL PLAZA Tel *****2 240 LAVENDER STREET Tel *****80 The Lexikon 90 combines tlfe advantages of the golf ball and the ordinary typewriter. Lexikon 90 offers you226 words
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OVERSEAS
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586 1977-09-21 2 Reuter THE HAGUE. Tues. Holland's caretaker government today proposed sharp increases in taxes on natural gas. oil, coal and cigarettes to help offset a predicted deficit of 12.5 billion guilders (about 5512.5 bilfion) In next year's budget. Finance Minister Wlm Duisenberg toldReuter - 586 words
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715 1977-09-21 2 Washington Star WASHINGTON. Tues. Mr. Bert Lance's Senate foes, insisting anew that he should quit, are pressing a fresh complaint over camouflaging of his financial troubles. Regaining the initiative now that the Budget Director's testimony are over. Senate challengers are testing whether aWashington Star - 715 words
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229 1977-09-21 2 AP WASHINGTON, Tues. Sweden yesterday became the 15th nation from outside the Western Hemisphere to Join the Inter-American Development Bank. Its entry Increases the bank's total membership to 40 countries. The ambassador of Sweden, Count Wilhelm Wachtmelster, signed the agreement establishing the bank,AP - 229 words
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198 1977-09-21 2 Reuter CAIRO, Tues. Arab League economic and finance ministers meet In Cairo today to consider a proposal for a summit to further Inter-Arab economic cooperation, Including the establishment of an Arab monetary market. League officials said. This idea, which is a mainReuter - 198 words
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Article156 1977-09-21 2 Reuter BOGOTA, Tues. The governors for Latin America and the Philippine* will demand lower tariff and non-tariff trade barriers at the forthcoming World Bank-IMF meeting, Colombian Finance Minister Abdon Espinosa Valderrama said. The governors, most of whom are the finance ministers of these nations, meetReuter - 156 words
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Article45 1977-09-21 2 Reuter SEOUL, Tues. The South Korean National Assembly today started a regular three-month session to discuss the draft Budget for 1978, which envisages revenue and expenditure to balance at 3.55 trillion won each, up 23.7 per cent over this year's Budget.- ReuterReuter - 45 words
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Article311 1977-09-21 2 UPI OTTAWA, Tues. Colonialism, economic deprelvatlon, environmental degradation and the prospect of nuclear war could be ended if the world seized an unprecedented opportunity now being offered. Prime Minister Pierre Trudeau said yesterday. In the opening address to the 23rd annual meeting of the Commonwealth ParliamentaryUPI - 311 words
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Article216 1977-09-21 2 ORLANDO, Tues. Investors who bought Central Florida real estate are claiming they lost millions to a scheme built around phony mortgages and offshore corporations. Two suits have been filed on behalf of more than 200 Europeans and another action was filed by four retired US servicemen.216 words
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Article347 1977-09-21 2 AP UNITED NATIONS. Tues Industrialised and Third World delegations to the UN General Assembly failed yesterday to agree on a resolution to assess results of the Paris conference on International economic cooperation. The failure meant that a resumed session of the assembly. In progress sinceAP - 347 words
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Article66 1977-09-21 2 Reuter BRIDGETOWN, Tues. The Commonwealth Fund for Technical Cooperation (CFTC) plans to spend £11 million (SS46 million) this year, managing director Anthony Tasker said yesterday. He told a press conference £8 million would come from Canada Britain, Australia, New Zealand and Nigeria. Members of the Fund,Reuter - 66 words
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Article255 1977-09-21 2 Reuter LONDON, Tues. UK gross earnings rose 8.8 per cent In the year to July, compared with 13.9 per cent to July 1976 and 9.6 per cent the 12 months to June 1977, the Employment Department said. The seasonally adjusted Index was unchanged In both JuneReuter - 255 words
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Article252 1977-09-21 2 Reuter i LONDON, Tues. British Mineworkers Union negotiations voted to continue talks on plt-by-plt i productivity schemes which, If approved by the membership, could defuse demands for major wage lncreases In November in breach of the 12-month pay rule. The miners' negotiating sub-committee will contlnueReuter - 252 words
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379 1977-09-21 2 AFP AP BRUSSELS, Tues. European Economic Community (EEC) companies operating In South Africa were today ordered by the EEC foreign ministers to obey a "code of conduct" designed to ease the lot of black employees. At the same time, the idea ofAFP; AP - 379 words
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170 1977-09-21 2 Reuter MANILA, Tues. Dr. J.R.M. Van Den Brink, chairman of European Banks International (EBIC), today urged International financial Institutions to disseminate more Information on the state of national economies In order to Increase commercial bank confidence In lending. The dissemination of suchReuter - 170 words
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Article140 1977-09-21 2 Reuter BRUSSELS, Tues. UK Chancellor of the Exchequer Denis Healey and Dutch Finance Minister Willem Duisenberg have ■emerged as candidates for the Job of president of the International Monetary Fund's Interim committee, EEC sources said. The committee has the task of revamping the International monetary and payments system.Reuter - 140 words
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285 1977-09-21 3 AFP ANTWERP, Tues. Several European banks are planning to offer their clients a diamond Investment service, reliable sources In Antwerp, the world's leading cut-dia-mond market, said yesterday. The chief French banks sent their representatives here In July, but Inquiries have been going onAFP - 285 words
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326 1977-09-21 3 Reuter ZURICH. Tues. The Swiss National Bank said it raised the celling on total loans to be floated by foreigners on the bond market in September and October to 580 million francs (Sss9l million) compared with 520 million in the July/August period. The figureReuter - 326 words
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Article244 1977-09-21 3 Reuter OTTAWA. Tues. The Conference Board of Canada said the Canadian economy should grow at a seasonally adjusted four per cent rate during the last half of 1977 following a real decline of 0.6 per cent In the second quarter. The second quarter should not beReuter - 244 words
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Article291 1977-09-21 3 PARIS. Tues. The French Government cut to 3.1 per cent Its forecast of the rise in real gross domestic product this year, documents sent to Parliament with the 1978 Budget show. In June it forecast a 3.5 per cent rise this year, Itself a downward291 words
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766 1977-09-21 3 NYT NEW YORK, Tues. Tensions are beginning to build up in business and financial circles as the US economy enters a new phase of apparently slower growth after two and a half years of rather rapid expansion. Simultaneous with the economy's downshiftingNYT - 766 words
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334 1977-09-21 3 Reuter PHILADELPHIA, Tues. The Wharton School of Economics expects US real Gross National Product during the 1977 second half to slow to an annual rate of between 4.5 per cent to 5.4 per cent, and a real growth rate of only 4.25 per centReuter - 334 words
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371 1977-09-21 3 Reuter ROME, Tues. First estimates of Italy's overall balance of payments in August Indicate a record surplus of around 1.2 trillion lire (553.3 billion), official sources said. This follows estimated surplus of 935 billion lire in July and 384 billion in June and bringsReuter - 371 words
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338 1977-09-21 3 AP CHICAGO, Tues. A federal court has been told of an alledged scheme to win a city contract with (U*****,000 (Ss2 million) from a Swiss bank account and other illegal payoffs. The allegations were made yesterday at the fraud trial of the handlingAP - 338 words
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Article102 1977-09-21 3 WASHINGTON, Tues. US real gross national product growth was revised upward to a seasonally adjusted annual rate of 6.2 per cent for the second quarter, the Commerce Department said. This compares with the 6.1 per cent figure reported last month and the Initial indication of102 words
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Article114 1977-09-21 3 Reuter WASHINGTON, Tues. The House defeated a bill which would have raised the federal debt limit from the current USS7OO billion (8*1,708 billion) to $775 billion over the next 12 months. The vote against the bill was 201-180. Most of the opponents said they were protesting theReuter - 114 words
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307 1977-09-21 3 Reuter NEW YORK, Tues. Growth of commercial loans over the next several quarters Is likely to be between 10 and 11 per cent, US Trust Co vice president Thomas Synnott told analysts. This growth rate should level off at about 10 per cent byReuter - 307 words
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Article147 1977-09-21 3 Reuter WASHINGTON, Tues. US housing starts fell in August to a seasonallyadjusted annual rate of 2.02 million from the 2.08 million In July, the Commerce Department said. The decline was almost entirely centred on a drop In starts from apartment blocks, which fell to 457,000 InReuter - 147 words
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Article123 1977-09-21 3 Reuter JOHANNESBURG, Tues. The gold market should enter a new and buoyant phase shortly after January 1978 if the existing agreement between the IMF and the Group of 10 not to increase their net aggregate gold holdings lapses, Blyvooruitzicht Gold Mining Co chairman, A.C.Reuter - 123 words
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Article, Illustration415 1977-09-21 3 AP PRETORIA, Tues. South Africa's Prime Minister John Vorster today announced a swing in South Africa's economic policy aimed at halting growing unemployment and shortages in the country's skilled workforce. But at the same time, he warned that the country still faces considerableAP - 415 words
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Page 2 Advertisements
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Advertisement172 1977-09-21 2 t H fr 'a 3 r 7 Sim Lim Investments Ltd. ANNOUNCEMENT The audited results of the Group for the year ended 31 March, 1977 are as follows: 31 March 31 March Consolidated loss before taxation Add: Provision-for taxation Consolidated loss after taxation Deduct: Minority interest Deduct/( Add): Extraordinary items172 words
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Page 2 Miscellaneous
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Miscellaneous375 1977-09-21 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 pm on Sept 20 at Singapore airport. Maximum Temperature 32.2° C Associated Humidity 66 Minimum Temperature 23.2° C Associated Humidity 98 Hours of Sunshine 9.55 Rainfall in Millimetres Nil Total Rainfall for the Month 92.5 Total Rainy Days for the375 words
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Page 3 Advertisements
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Advertisement102 1977-09-21 3 OCBC CENTRE your prestigious address with a panoramic view Prospect of "in house" business Private dining rooms available for top executives 27 fast computerised lifts Large airy Car Park for 654 cars no parking problem for visitors Cafeteria for executives and staff One floor of special conference and meeting rooms102 words
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Page 3 Miscellaneous
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Miscellaneous613 1977-09-21 3 TWO-IN-ONE CROSSWORD 2 13 K 3 U CRYPTIC PUZ ZLE ACROSS I Dishonestly win many a race (5) 6 Racy, colourful lawyers? (S) 9 Hire Mrs Mopp to take the return half back (7) 10 Beat up a mixture (5) 11 Home team beaten by Palace (5) 12 Works stead'ly613 words
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COMPANY NEWS
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452 1977-09-21 4 BUT for the surpluses realised from the sale of Its subsidiaries, Sim Lim Investments' latest accounts would all have been totally written in the red. For the year ended March 31, 1977, the group suffered an after-tax loss of $1.68 million452 words
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418 1977-09-21 4 AFTER two years of downtrend, Singapore Paper Products has crept back Into the profit making league. For the six months ended June 30, 1977 the group made an unaudited pre-tax profit of $101,200. This compared with a group pre-tax loss of $497,200 In the418 words
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143 1977-09-21 4 KUALA LUMPUR, Tues. Novo Transport Inc., the San Francisco-based freight forwarder, has expanded its facilities In Malaysia and Singapore, Mr. A.M. Stephenson, president of the company said. Sabl-Novo Enterprises Sdn. Bhd., Its Malaysia Joint venture will have Its headquarters In Kuala Lumpur with143 words
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LATEST RESULTS
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Article48 1977-09-21 4 Unaudited group pre-tax profit $2.94 million ($2.39 million) on turnover $80.25 million ($69.92 million) for the first half-year ended June 30, 1977. Parent company pre-tax profit $1.5 million ($1.41 million ($18.83 million). Interim dividend four per cent (same) payable Oct 21 to shareholders registered Oct 17.48 words
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Article28 1977-09-21 4 Unaudited group pre-tax profit M 51.27 million ($1.55 million) for the first six months ended June 30, 1977. Parent company pre-tax profit $865,589 ($726,044).28 words
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Article29 1977-09-21 4 Pan Malayan Holdings Unaudited group net profit $465,322 ($425,071) for the first half-year ended June 30, 1977. Loa*ns outstanding $54.71 million ($42.41 million). Parent company net profit $247,178 ($188,230).29 words
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Article22 1977-09-21 4 Hotel Royal-Ramada Net loss $103,878 (loss $410,283) on sales $2.82 million ($2.63 million) for the first six months ended June 30, 1977.22 words
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COMPANY MEETINGS
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Article, Illustration65 1977-09-21 4 THE following company meetings are due: Sept 21 at 11.00 a.m. at the Registered Office, 12th Floor, Yee Seng Building, Jalan Raja Chualan, Kuala Lumpur. DATO Ng Hong Heng, chairman of Pan Malaysia Rubber Industries, which Is due to hold Its 15th AOM at Its registered65 words
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Article21 1977-09-21 4 Sept 26 at 10.00 a.m. at Tlngkat Kedua, Block E. Kompleks Pejabat Damansara Damansara Heights, Kuala Lumpur.21 words
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Article18 1977-09-21 4 Sept 29 at 10 a.m. at Ban Hln Lee Bank Chambers, Ist floor. Beach Street, Penang.18 words
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Article19 1977-09-21 4 Sept 29 at 10.30 a.m. at Ban Hln Lee Bank Chambers, Ist floor, Beach Street, Penang.19 words
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18 1977-09-21 4 Sept 29 at 11.00 a.m. at Ban Hln Lee Bank Chambers, Beach Street, Penang.18 words
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Article24 1977-09-21 4 Sept 29 at 11.00 a.m. at The Negara Room, 2nd floor, lower lobby, Kuala Lumpur Hilton, Jalan Sultan Ismail. Kuala Lumpur.24 words
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23 1977-09-21 4 Sept 30 at 10.30 a.m. at the Registered Office, 197 A, Batu 4 3/4 Jalan Scudai, Johore Baru.23 words
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Article21 1977-09-21 4 Oct 3 at 11.30 a.m. at the Regent VII room, 2nd floor, Regent Hotel, Jalan Imbl, Kuala Lumpur.21 words
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Article21 1977-09-21 4 Oct 4 at 12.30 p.m. at the Registered Office, Jalan 219, off Federal Highway, Petallng Jaya. Selangor.21 words
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Article20 1977-09-21 4 Oct 26 at 3.00 p.m. at the Registered Office, No. 50 Jalan Ampang, Kuala Lumpur.20 words
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Article224 1977-09-21 4 EU YANG SANG Holdings has reported a 6.9 per cent increase in group pre-tax operating profit to $480,135 for the six months ended June 30, 1977 Oroup turnover during the period was up 6.7 per cent to $5.27 million. Trading profit and property and miscellaneous224 words
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Article1263 1977-09-21 4 On Sept 19 TRADING on the Chicago Board Options Exchange came to 89,654 contracts on Monday compared with 84,656 on Friday. OPTION OCT JAN A PL 8TOCK Alcoa 45 1 3/8 25/8 33/8 45 3/4 Alcoa SO 1/16 7/8 17/8 45 3/4 Alcoa 00 UNTRD UNTRD UNTRD1,263 words
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318 1977-09-21 4 THE earnings slide, which Esso Malaysia experienced last year, has continued Into the current year ending Dec 31, 1977. Chairman, Dr. Richard J. Krulzenga reported yesterday that after-tax profit fell about five per cent to MS2.I million In the first six months of this year.318 words
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94 1977-09-21 4 AFP KUALA LUMPUR. Tues. A British firm is keen to set up a pharmaceutical plant in Malaysia on a Joint venture basis. The marketing director of Vitabiotics Ltd. of Middlesex, Dr. K.I. Lalvanl, said that his firm is prepared to invest Msl million for theAFP - 94 words
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Article414 1977-09-21 4 Current Ex Date Total for Total for payment Date payable the year previous year C. Sugar* 10% Sept 5 Sept 29 15% nil International Wood 10%TE Aug 8 Sept 30 10%TE nil Pahanf Consolidated 10% Aug 3 Sept 30 15% 10% Keck Seng 10%I Sept 5 Sept 30414 words
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462 1977-09-21 4 Cable Wireless earnings will dwarf Post Office FT LONDON, Tues. The profit of state-owned Cable and Wireless, which will be reported to Parliament early next month, should show a massive rise from last year. The company, which supplies telecommunications equipment and services to overseas countries and companies, showed a netFT - 462 words
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382 1977-09-21 4 NEW YORK: One of the newest areas of Investment In the West by oil exporting countries Is In the US private placement markets for American corporations and public utilities. Several of the big US Investment houses which dominate this expanding business,382 words
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Page 4 Advertisements
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Advertisement170 1977-09-21 4 T^JSINC nu SINGAPORE ness Business 1977 PRICE $300 VOLI NQ9SEPTEK^ER'9 77 COVER Suga r.-? #>*« t* <* *>1 9 MBt* *U *r. «W j A mm mm -~^v INDEX Two-Year Cumulative MANCIF acturino Confectionery COj^MONICA-nONS Air Sa'ety HVESTMfcNT jinno Ente f P nses TOURISM A sea" Travel Uft AT THE170 words
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INTERNATIONAL COMPANY NEWS
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Article308 1977-09-21 5 ASIAN COMPANIES Reuter TOKYO, Tues Sony Corp said It expects to report new highs In consolidated net sales and net income for the current year ending Oct 31, 1977 despite continuing difficult market conditions. Sony made the prediction after it announced record net sales andReuter - 308 words
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Article272 1977-09-21 5 Reuter MELBOURNE, Tues. Australian Associated Resources proposes to reconstruct Its capital unless It receives a takeover bid substantially higher than that already received from CSR. The company said In a circular to shareholders. The reconstruction would Include the return to shareholders of any capital surplus toReuter - 272 words
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Article84 1977-09-21 5 Reuter TOKYO, Tues. The Finance Ministry has proposed to a syndicate of underwriters that they lower the yield on 10-year national bonds to 6.683 per cent from 6.984 per cent, effective from October Issues, a ministry spokesman said. The underwriters are expected to agreeReuter - 84 words
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Article75 1977-09-21 5 Reuter HONGKONG, Tues. Green Island Cement said It has awarded a HKSI9.7 million contract to Fung Kau Kee Contractors Salvage and Engineering to build a seawall and Jetty and to reclaim part of Kowloon Bay. This Is the first stage of an expansion project which will take threeReuter - 75 words
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Article165 1977-09-21 5 Reuter SEOUL, Tues. The Korea-Kuwait Banking Corp said it plans to raise its capital to four billion won from 2.5 billion. The corporation which is a Joint venture between Korean firms and the Kuwait Financial Centre will shortly submit plans to the Foreign Capital InducementReuter - 165 words
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Article171 1977-09-21 5 AFP Reuter CANBERRA, Tues. British Petroleum of Australia has boosted consolidated net operating profit by more than 580 per cent from AS 1.32 million to $8.6 million in the six months to June 30, 1977. Revenue was $338.41 million, up from $288.13 million. But ifAFP; Reuter - 171 words
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169 1977-09-21 5 Reuter TOKYO, Tues. Yoshihiro Inayama, chairman of the Japan Iron and Steel Federation, said Japan is ready to voluntarily restrain Its exports of steel to the United States. Inayama who Is also chairman of Nippon Steel, made the remark at a press conference followingReuter - 169 words
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Article97 1977-09-21 5 Reuter MELBOURNE, Tues. Shareholders In Australia and New Zealand (ANZ) Group Holdings approved at meetings today a scheme of arrangement under which they will exchange their Asl par shares on a one-for-one basis for shares in ANZ Banking Group. ANZ Banking Group said the approvalReuter - 97 words
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Article73 1977-09-21 5 Reuter SEOUL, Tues. South Korea's Hanjln Business Oroup, including Korean Air Lines (KAL), and the French Bank STE Generale, have agreed to set up a Joint banking corporation here this year, Hanjln officials said. The two firms will put up capital of three billion won onReuter - 73 words
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Article37 1977-09-21 5 Reuter BRISBANE, Tues. Mount Isa Mines said It raised its price for copper, equivalent wlrebar basis CIF main Australian ports, to Asl,oBo per tonne from $1,060 previously with effect from Sept 20. Reuter.Reuter - 37 words
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Article837 1977-09-21 5 NYT NEW YORK: For a select group of Wall Streeters, the game with the highest stakes in town is risk arbitrage. On Monday, a big decline In Gerber products stock caused steel-nerved arbitragers to drop a bundle. In its purest form, risk arbitrage asNYT - 837 words
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582 1977-09-21 5 EUROPEAN COMPANIES FT PARIS, Tues. The French Bourse's watchdog committee has decided to call In the public prosecutor over Its allegations that the former subsidiary In France of the Swedish telecommunications company Ericsson produced Irregular accounts for the thee financial years 1973, 1974FT - 582 words
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520 1977-09-21 5 FT AMSTERDAM. Tues. The Dutch Parliament has received for approval a draft bill comprising regulations for investments institutions. The draft amounts to state supervision similar to that already In force governing banks and Insurance companies. The aim is to safeguard the interestsFT - 520 words
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366 1977-09-21 5 FT ROME, Tues. Italsider, the troubled steel company controlled by the Italian state holding, Istituto per la Rlconverslone Industrlale (IRI), has denied reports that It was no longer able to pay the salaries of Its 50,000 employees. The company said, however, after a boardFT - 366 words
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Article66 1977-09-21 5 Reuter BRUSSELS, Tues. Petroflna SA add natural gas deliveries from the Ekoflak Field In the Norwegian sector of the North Sea to the terminal at Emden, West Germany began on Saturday at a rate of 10 million cubic metres a day. This will rise to a dallyReuter - 66 words
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134 1977-09-21 5 NORTH AMERICAN COMPANIES Reuter THE City of New York faces possible fresh delays In its efforts to return to the debt markets, a spokesman for the city's comptroller, Harrison Ooldln, disclosed. The spokesman said this possibility arises from a legal opinion received fromReuter - 134 words
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Article56 1977-09-21 5 Reuter US pre-tax corporate profits were revised upward to a seasonally adjusted annual rate of US$l74 billion In the second quarter from originally reported $173.4 billion, the Commerce Department said. In the first quarter, pretax profits rose by $161.7 billion, while In the second quarter of 1976Reuter - 56 words
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Article61 1977-09-21 5 Reuter FORD MOTOR said It started a US$25O million expansion at two Michigan plants to produce lightweight, more fuel efficient car axles. The company said a 13,770 sq. metre expansion of Its sterling plant and a 3,645 sq. metre addition to its Van Dyke plant are scheduledReuter - 61 words
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275 1977-09-21 5 Reuter NEW YORK Stock Exchange trading In 1977 is likely to outstrip every year except 1976 and. with an active fourth quarter, could even exceed last year, NYSE chairman William Batten said. Mr. Batten told a Securities Industry Association dinner here thatReuter - 275 words
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Article254 1977-09-21 5 Reuter R. J. REYNOLDS Industries said It does not foresee any significant adverse Impact on earnings from the nationalisation of assets of its American Independent Oil subsidiary In Kuwait and the divided zone between Kuwait and Saudi Arabia. The company said Amlnoil's primary Kuwaiti assets wereReuter - 254 words
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Article155 1977-09-21 5 UK COMPANIES Reuter ON A turnover Increase of 23 per cent, United Biscuits made a pre-tax profit of £17.04 million In the first half-year ended July 16, 1977. This represents a rise of 13 per cent over a profit of £15.02 million in the 1976 halfReuter - 155 words
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Article98 1977-09-21 5 Reuter BRITISH LEYLAND said some 9,000 workers In its five Lancashire bus and truck factories are on strike over a pay claim. The workers, who make heavy trucks and chassis and engines for doubledecker buses, have rejected a management offer of an average 7.6Reuter - 98 words
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Article37 1977-09-21 5 Reuter MARCONI Communications Systems, a subsidiary of GEC-Marconl Electronics, said the Libyan Arab Jamahlrlyah has placed an order worth over £9 million for radio communications equipment for the International airports at Tripoli and Benghazi. Reuter.Reuter - 37 words
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Article80 1977-09-21 5 Reuter SPOKESMEN for Imperial Chemical Industries and Phillips Petroleum said the companies are considering expanding their Jointlyowned refinery on Teesside, north-east England. But both companies said their studies sire at a preliminary stage and no final decision has been taken. The spokesmen declined to commentReuter - 80 words
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Article70 1977-09-21 5 Reuter THE London Borough of Southwark plans to issue £20 million of 11K per cent 1984/ 85 loan stock at 99 Vi per cent, market sources said. Ten per cent will be payable on application on Sept 21 for dealings on Sept 22 and there will beReuter - 70 words
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Page 5 Advertisements
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Advertisement107 1977-09-21 5 Anybody Looking For France NeedsaGoodMmglb! And IBS are just the people who can do the job. On any aspect of finance, International trade, Foreign Exchange, Industrial Financing and a whole broad range of credit facilities designed for your corporate needs. We don't just talk we make it our business to107 words
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Article2373 1977-09-21 6 Gr'i Gr'i Net 1977 Laft div Div y'ld P/E Vol Day High Low Company Sale +or- c'vr C000> High Low 8ECTION ONE INDUSTRIALS 154 136 Ac ma 140 -1 12. ON 1.8 8 5 6.5 1 140 140 204 172 Alcom 172 10.0 0.5 5.8 27.7 1162,373 words
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Article1303 1977-09-21 6 BID and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown li\ brackets In tots of 1 000 units unless otherwise specified Ail Time Settlement Contract* are quoted after the word "Sett." Blf1,303 words
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Article1578 1977-09-21 6 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown In brackets in lots of 1 000 units unless otherwise specified INDUSTRIAL Acma (1 428). A jinamato (2 US). A leant (1.7081,578 words
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Article56 1977-09-21 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 (Sept $2.40) (0.095). (March 52.40) (0.15B). Nat Iron (March 53.00) (0.10B). UOB (March $3.20)56 words
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Article151 1977-09-21 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Mutagen' pric aa far Sept 21) (Current prl OMI The Commerce 1.73 1 83 INCOME BOND 1.07 1.13 The Saving Fund 103 1.09 S pore Prog Fund 0 82 0.87 xd MARA BL'MIPUTRA FUND S pore Security (Manager*' price* or Sept 21)151 words
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Article166 1977-09-21 6 B O T 8 1/2% 1981 (100,000) (103HB 103%5) B O T 7 5/8% 1984 (100,000) (99*8 99HS) LTCB J 1982 (100,000) (98 WB 995) Credit Lyonnaia Floating 1963 (100,000) (98VfeB 98V>S) DBS Convert! 6 1/2% 1991 (100,000) (978 988) D B S 8 1/2% 1962 (100.000) (101HB166 words
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Article169 1977-09-21 6 Rep Spore D Mark 7% 1982 (100,000) (1018 101KS) Rep Spore 6 1/2% 1983 (100,000) (99'48 100HS) Rep Spore 7 3/4% 1987 (loo.ooo) (looytß iois) s 1/2% 1/12/77 (250,000) (100.358 100.575) 5% T F 1/3/78 (250,000) (101.358 101.458) 5 1/2% 1/4/78 (250,000) (100.958 101.05S) 5 1/2% IS/4/78 (250,000)169 words
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Page 6 Advertisements
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Advertisement504 1977-09-21 6 BUSINESS TIMES Airline Directory Aeroflot Soviet Airline* 110-112 Straw Centra, Orchard Rood, Singapore 9 (Tel: 377.111) Air Ceylon 302-B, 3rd Floor, Marino Houm SKonton Way, Singapore (1) (Tal: ***** M) Ground Floor, ICB Building, Shan ton Way Singapore 1 (Tal: *****11) 16th Floor, UIC Building, Shanton Way, Singapore 1 (Tel:504 words
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Article, Illustration609 1977-09-21 7 TRADING condition* were quiet and uncertain on the Stock Exchange of Singapore yesterday. Throughout the day, trading was characterised by tentative bids put up by buyers at lower levels. The market opened with more sellers about and prices edged lower under a combination of stale bull liquidation609 words
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Article450 1977-09-21 7 SHARES fluctuated lower on all fronts in selective trading on the Kuala Lumpur Stock Exchange yesterday. Conditions ruled dull and easier right from the start, with traders again showing some aversion towards opening fresh deals. As a result, the bulk of the day's turnover was again said450 words
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INTERNATIONAL STOCK MARKETS
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Article335 1977-09-21 7 HONOKONO: The market elosed little changed after a slightly weaker opening on Tuesday, on low turnover, dealers said. The Hang Seng Index rose 0.01 point to close at 420.48. Hongkong Baak fell 10 to HK$l7.BO and Hutchison and Wheelock Marden 2.50 cents each to $3.15 and $2.48 respectively, while335 words
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Article508 1977-09-21 7 TOKYO: Share prices roae In moderate trading on Tuesday, dealers said. The Dow Jones average gained 18.38 to close at 5,196.09 with volume 250 million shares. The New Index closed at 387.75, up 1.38. Oovernment recommendations for reduction of Japan's payment surplus announced on Tuesday hardly affected the market,508 words
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Article390 1977-09-21 7 SYDNEY: The market on Tuesday, *ased In quiet trading due to uncertainty, about the economy, dealers said. The Sydney All-Ordinaries closed at 439.94 points, down 1.67. BHP fell A 6 cents to $5.44, AAR six to $1.80, CSR three to $3 and Myer four to $1.99 while the ANZ,390 words
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Article141 1977-09-21 7 MANILA: The market closed mixed on Tuesday, with oils advancing while minings and commercials declined slightly, dealers said. Turnover of 13.85 million pesos was little changed against Monday's 13.M million. Philex and Marinduque lost two points each but other mining Issues held steady. SEPT Pesos Acoje Mining OOM >-0.0004141 words
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Article104 1977-09-21 7 SEPT Bahts Ada fibre 180 •9 Bangkok Bank 387 unch Bangkok Invest. 266 -2 Bangkok-Metro-politan Bank Bat* 7006 BernJucker 436 -1 Charoong Thai Wire lie -1 Dumex Duslt Thanl 234S unch Faber Merlin First Trust 1828 unch Genera Finance 250 unch Indo-Thal Industrial Finance Corp 1293 unch J And104 words
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Article294 1977-09-21 7 AMSTERDAM: The market fell across a broad front In quiet conditions on Monday, dealers said. Traders were reserved ahead of Tuesday's 1978 budget announcement. Dutch lnternatlons were lower on balance. However, Unilever rose 0.30 guilders and Royal Dutch was 0.40 up ex-dlvldend. Elsewhere, transports were mixed. Banks, most Insurances,294 words
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Article150 1977-09-21 7 BRUSSELS: Most shares closed lower In fairly active trading on Monday, bourse sources said. Cockerlll, Tibictflsi and Arbed rose against the trend, white Asturienno, Vie ille Montane. Hoboken, Clabocq, GB-Inno-BM, UCB and CBR fell. UK, Canadian and Frencn shares eased, while Dutch and Oermans were little changed to lower.150 words
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Article298 1977-09-21 7 FRANKFURT: Shares lost an average of up to two marks on further professional position closing and foreign selling on Monday, dealers said. Banks led losers, with Bayernvereia dropping five marks and Baysrahype three. Daimler fell four marks Public authority loans fell up to 0.20 marks, with the regulating authorities'298 words
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Article166 1977-09-21 7 MILAN: Stocks closed Irregularly higher In moderate dealings on Monday, bourse sources said. Generale Imoobiliare fell sharply but Condotte D'Acqua was little changed following restriction of trading In these two shares to the cash market until uncertainties over a plan for sale of Condotte to private Interests as part166 words
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Article353 1977-09-21 7 PARIS: The market eased slightly all round In quiet trading on Monday, with political divisions In both the government majority and left wing opposition remaining a dominant Influence dealers said Banks were mixed with an easier bias, while stores, electrlcals, metals and chemicals lost most ground. Americans and oils353 words
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Article275 1977-09-21 7 ZURICH: The market turned Irregular on Monday, with an easier bias on profit-taking after the previous week's advance, market sources said. The Credit Suisse Index rose 0.3 points to close at 240.7. Swissair edged lower while banks remained steady a Dart from higher Bankgeeellschaft. Among slightly mixed financial. Interfood275 words
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Article396 1977-09-21 7 JOHANNESBURG: Oold shares closed firmer on the stock exchange on Monday, reflecting higher bullion prices, dealers said. Higher priced shares gained up to 90 cents, with medium priced stocks 10 to 20 cents up. Marginal and speculatlves were generally five to 15 cents up. Financial minings were steady on396 words
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Article268 1977-09-21 7 TORONTO: The market closed broadly lower In light trading on Monday, with 10 of the 14 subIndices declining. Paper and Pipeline* posted the largest losses. The composite Index was off almost three points and declines led advances by 223 to 154. Canadian -International Power A dropped IT* to 21%,268 words
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Article1122 1977-09-21 7 NEW YORK: Troubled by more proof of slower economic growth, the stock market on Monday, ended the session with broad losses In sluggish trading. The decline, which began at the opening bell, accelerated after mid-session when the government reported a slowdown In US August housing starts to a1,122 words
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Article63 1977-09-21 7 FINANCIAL TIMES INDUSTRIALS Monday 510.0 Friday SS1.9 Week Ago 524.3 DOW JONES AVERAGE INDUSTRIALS Monday .851.52 Friday 856.81 Week Ago 854.38 LONDON DOLLAR PREMIUM Monday 90* to 90% Friday 91 to 91% V H K. HANG SENG Monday 420.47 Friday 424.82 Week Ago 428.99 SYDNEY INDUSTRIALS Monday 373.62 Friday63 words
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Page 7 Advertisements
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Advertisement176 1977-09-21 7 Confront Singapore's decision makers in Business limes 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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COMMODITY REPORTS AND PRICES
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Article503 1977-09-21 8 THE SINGAPORE rubber market yesterday opened 0.75 cent lower, then slipped a further 0.75 cent on some liquidation and speculative selling. The last hour of the morning trading was quiet with levels falling off slightly on scattered fresh offerings. Turnover was fair. Prices eased, with503 words
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Article345 1977-09-21 8 Prices in cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int 1 R S S. prompt f.o.b. 212 50 213.50N 211.50 212.50N Int 1 RSS. October 213.50 214 00 212 25 212.75 Int 1 R S S November 215 25 215.75 214.25345 words
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Article121 1977-09-21 8 NOON SSR and SMR prices yesterday: October November (Current Mth) (Forward Mth) R.A.S. Buyers Seller* Buyer* Seller* (cent* per kg) (cent* per kg) SSR 20 (J-ton pallet) 205 00 207 00N 206 00 208 OON SSR 50 (1-ton pallet) 203 00 205 OON 204 00 206 OON121 words
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Article31 1977-09-21 8 Rubber: Sept 20 Singapore: October 212.25 orate (down 2.75 oenta) Malaysia: October 213.50 crate (down 2.50 crate) Tin: $1,658 (up $13) Official offering: 310 toi nea (up 35 tonnea)31 words
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Article125 1977-09-21 8 HONGKONG, Tues. The cotton futures market closed firmer in moderately active trading, in continuation of yesterday's rally, dealers said. Trading was mainly confined to commission house straddle transactions throughout the session, with light speculative trading, they said. March rose 0.47 US cents on trade house buying, and July125 words
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Article193 1977-09-21 8 YARN and cotton spot exgodown prices in HK dollars: Cotton Yarn: China Blue Phoenix 20 s 1.870. 32 s. 1.990 40's 2,100 (per bale or 400 lbs). Piece Goods: China Butterfly and Olobe Brand unq, Dragon Head una, Five Lambs unq. Flower and Butterfly unq. Flying Geese unq,193 words
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Article525 1977-09-21 8 DEALERS reported very thin trading In the Singapore produce market yesterday. Prices, however, held from steady to firm in unison with the generally improved markets overseas. Fresh American and French roaster buying made for a firmer coffee bean market. Sellers In the London terminal market were generally reserved.525 words
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Article269 1977-09-21 8 LONDON, Tues. Coffee futures opened with the spot September position £17 lower while other months showed gains of up to £14 per tonne. Initial rises followed the limit gains InNew York, but some trade house long liquidation developed In the nearbys and pared the advances, traders said. Some short269 words
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Article61 1977-09-21 8 C.I.F Rotterdam. US dollars per ton. LONDON MMMIiv Previous Malaysia 5% ffa bulk Nov 438 Sir 433 sir Sumatra 5% ffa Sept 520 sir 520 sir Oct 470 sir 470 sir Nov 442 5/ 445 pd 442.50/ 445 pd December 432 50 pd 435/ 437 50 pd January61 words
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Article258 1977-09-21 8 LONDON, Tues. Cocoa opened £45 to £25 per tonne higher In the traded positions and sales totalled 74 lots. Market sources said values had been expected to open around £30 higher based on New York but once this level had been achieved there was little followthrough Interest and values258 words
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Article332 1977-09-21 8 THE STRAITS tin price In Penang yesterday was up MII 3 to $1,858 per plcul on an official offering up 35 tonnes to 310 tonnes. In LONDON yesterday, tin closed the morning with gains of £55 per tonne for cash and £47 for Three Months, and £10 and332 words
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Article300 1977-09-21 8 LONDON, Tues, Terminal sugar opened £0.65 to £1.60 per tonne down from yesterday afternoon closing levels. Sales totalled 549 lots. Dealers said losses were recorded during last night's kerb when the market was Influenced by, but not fully reflected, a selloff In New York. The lower levels attracted fresh300 words
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Article186 1977-09-21 8 BANGKOK, Tues. Indicative prices quoted today were unchanged from yesterday. (US dollar per tonne fob buit Bangkok). White Km: 100 pet lit clan 306 100 pet 2nd 292, 100 pet 3rd 288 tact Til, 10 pet 285, 15 pet 252, 20 pet 240/25 pet 240. 35 pet unq. Brake.:186 words
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Article185 1977-09-21 8 CHICAGO, Tues. Soybean futures yesterday recovered small early losses to finish nine to 5Vt cents a bushel higher, at or Just below the day's highs. Initial nearby firmness on the harvesting delays caused by rains In the Midwest was lost when followthrough was lacking and prices retreated on local185 words
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Article61 1977-09-21 8 CHICAGO, Tues. After an early mixed pattern, wheat futures yesterday pressed upward and eventually closed with gains of 1 3/4 to 2-3/4 cents a bushel. Trading was light and E rices fluctuated narrowly i the early trade but Increasing amounts of exKrter buying, which was lleved to be pricing61 words
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Article102 1977-09-21 8 LONDON, Tues. Lead gained mostly £6.00 per tonne In the morning. This metal encountered trade selling on the pre-market down to £344 per tonne for Three Months. But short covering, fresh speculative buying and subsequent stoploss operations at the £350 level reversed the trend and took the position up102 words
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Article106 1977-09-21 8 LONDON, Tues. zinc eased by mostly £2.00 per tonne In the morning. The market fluctuated within a £4 per tonne trading range throughout the morning and although earlier pre-market losses were pared following the movement in lead, hedge selling continued to weigh on a market retaining a heavy supply106 words
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MONEY AND EXCHANGES
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Article618 1977-09-21 8 OVERNIGHT money in Singapore's domestic money market continued to be lent out at high rates yesterday, closing at a high of 20 per cent. Opening at the six per cent level, overnight was quickly traded to 10 per cent before clearing hours. It came down to six per cent618 words
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Article44 1977-09-21 8 acbc 6*. Algemene Bank Citibank gi, Bangkok Bank 7 HSBC m Bank of America Indoauez Bank of China 7 Bank of Tokyo «'< 6*4 Bank Ne*ara OCBC Indonesia 7 OUB Chartered Bank 6S L'CB 7 Chaae Manhattan L'MBC 7 DBS UOB St.44 words
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Article170 1977-09-21 8 Asian rates ASIAN currency deposit Interbank rate* a* at clow on Sept 20: US4*Uar*(8»< 7 day* 1 tnth 2 mttu 3 mthi < mtha mthi 12 mthi Oflhr Bid ...6 Vl« <3/16 6 7/16 5/18 ...6 9/16 6 7/16 ...6 11/16 6 6/16 6 7/1 6 V4 ...6 15/16 613/16170 words
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Article50 1977-09-21 8 RANGE of price* offered by dlacount houses on Sept 20: Overnight 3 1/8* Call deposit 3 to 3 l/a% CMbc Buy 9»Uia« 3-Month Treasury bills 3-Month Bank bills 3-Month CD 0-Month CD 31/1* 4 8/16 SS/i 51/3 2 15/16 4 7/16 51/4 5 3/8 Source: National Discount Co. Ltd.50 words
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Article124 1977-09-21 8 Euro rates LONDON, Tues. Eurodollar deposit rates were virtually unchanged In light trading, dealers said. Periods opened around overnight levels except for One Month at 8-7/10, 8-5/16 per cent which was adjusted lower because of a loss of Friday end of period. Among shorts overnight was lightly bid around 83/18,124 words
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Article256 1977-09-21 8 LONDON, Tues. Forward sterling weakened on renewed proflttaklng in early trading, with most positions returning to show discounts against the dollar, extending yesterday's late movement, dealers said. Spot fluctuated between a low of $1.7418/20 compared with 1.7419/21 overnight and 1.7421/23, with some commercial support buying prompted by last night's256 words
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Article109 1977-09-21 8 NEW YORK, Tues. A decline In sterling yesterday provided the main feature of a fairly quiet trading day here,-while the US dollar failed to regain opening losses against other major currencies by the close, dealers .said. Sterling closed at J1.7417/20 compared with 1.7425/27 In the morning and forward109 words
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Article125 1977-09-21 8 HONGKONG, Tues. The US dollar closed steady on New York closing rates In quiet and dull trading, dealers said. It eased to a late DM2.3230/ 40 from a day's high of 2.3240/50 and New York's closing midpoint equivalent of 2.3240, and was steady at 266.85/95 yen from New York's125 words
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Article82 1977-09-21 8 TOKYO, Tues. The US dollar for overnight delivery closed steadier in moderate trading at 266.95 yen, after a 266.85 opening compared with 266.94 at yesterday's close. The dollar for immediate delivery closed at 266.83 yen, unchanged from the opening and compared with 267.02 at yesterday's close. Combined spot trading82 words
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Article54 1977-09-21 8 ZURICH exchanges closing quotes on Sept IS: U8 2 3788-3795 UK 4 1433-1449 Can 2 2139-2149 W Qerm 102 35-40 Neth 96.37-44 France 48 25-28 Belg 8 83-1/4-3/4 Denm 38 51-53 Norw 43 35-37 8 wed 48 95-97 Italy 0 2892-2894 Austria 14.37-1/2-38-1/2 Port 5.87-1/2-88-1/4 Spain 2.81-81-3/4 Arc 054 words
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Article47 1977-09-21 8 AUSTRALIA/NZ exchanges on Sept 20: Australia: Sterling 8374/ 8308 US dollar 1 1088/ 1.1020 SAT US dollar 1.1321 Ninety-day forward burin* rates Sterling 8308 US dollar 1.0952 New Zealand: Sterling 0.5007/ 0 5538 US dollar 0.9744/ 0.9644 Ninety-day forward rate Starting 0 5659 US dollar 0.966747 words
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Article36 1977-09-21 8 FRANKFURT exchanges opening quotes on Sept 20: US 2.3218/31 Can 2 1630/36 UK 4.043/063 Neth 94 .06/16 Bwits 97 86/78 Italy 2.627/635 Franc* 47 10/30 Nrow 42.22/30 Belg (com) 6.478/86 Belg (fin) 6.47/48 Japan 0.(706/10.36 words
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Article319 1977-09-21 8 LONDON, Tues. The Eurobond market was relatively quiet this morning, dealers said. Guilder Eurobonds lost ground narrowly in quiet trading, dealers said. Floating coupon notes showed occasional small rises, while convertibles were basically unchanged although some US issues eased by up to *fc dealers said. Eurobonds opening quotes on319 words
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Article309 1977-09-21 8 LONDON, Tues. Copper wlrebars finished with gains of mostly £1.00 per tonne. Values declined on the early pre-market under proflttaklng prompted by yesterday's higher levels, with business reported from £705 down to £699 per tonne. But losses were soon erased In the ring where shortcoverlng and some fresh buying309 words
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Article236 1977-09-21 8 LONDON, Tues. Silver lost 0.7 to 0.6 pence per troy ounce. The pre-market sagged under selling which reflected the failure of gold to penetrate the US$l5O level this morning, dealers said. Three Months traded down to 264.5 penoe but hardened on shortcoverlng In the ring, encouraged by the trend236 words
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Article365 1977-09-21 8 ON THE Singapore market yesterday, the kllobar opened at 5511,804 and closed at Ssll,BlB. On the London market, the metal opened at U*****.20/40, 40 cents lower than NY closing the previous night, and closed at $149.35/55 after touching a high of $149.50/70. Trading was moderately active. The London morning365 words
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Page 8 Advertisements
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Advertisement167 1977-09-21 8 MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE ASM RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide to the latest developments that have taken place in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin is divided167 words
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TRANSPORT AND COMMUNICATIONS
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342 1977-09-21 9 SEATRAIN Lines, a major US container ship operator, has Joined other major operators like Maersk Line and Barber Blue Sea in the Far East/ US trade. Seatrain Lines will inaugurate its fully-contai-nerised service in October. Weekly feeder services will bring cargo from342 words
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544 1977-09-21 9 FT CARACAS, Tues. The long ordeal of putting together a tri-natlonal consortium which will build a 700 km railway In Venezuela a contract expected to be worth close to US$l billion (552.45 billion) Is finally drawing to a close. Representatives of Spanish and CanadianFT - 544 words
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Article191 1977-09-21 9 UPI VICTORIA, (British Columbia), Tjues. A Soviet fishing fleet commander headed for Victoria yesterday to meet Canadian authorities after the seizure of two Soviet trawlers alleged to have violated Canada's 320-km fishing limit, a fisheries spokesman said. "We suppose he is quite concerned about what actionUPI - 191 words
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342 1977-09-21 9 UPI LONDON, Tues. Queen Elizabeth is also getting one but hers, will not be as fancy. Or as costly. The world's most expensive new private car, a goldplated Rolls-Royce Phantom VI Landaulette, today awaited collection by its millionaire buyer. Dubai businessmanUPI - 342 words
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Article189 1977-09-21 9 AP LONDON Tues. Great Lakes rate stability was maintained by further trans-Atlantic grain business yesterday. Evidence of steadiness was contained In the September-October fixture of two vessels to the Antwerp-Hamburg range. Both received US$l2 for Great Lakes loading and $5 for St. Lawrence "top-off" up to totalAP - 189 words
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Article285 1977-09-21 9 THE International Air Transport Association's (lATA) 33rd annual general meeting will be held in Madrid from Nov 8 to 11 at the Palaclo Naclonal de Congresos y Exposlclones. More than 300 senior executives, including many chairman and presidents, from the association's 110 member285 words
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378 1977-09-21 9 AFP NEW YORK, Tues. New York appeal court president Irving Kaufman, criticising the New York Port Authority yesterday over Its attitude on Concorde landings,said he will decide on the authority's appeal very soon. The Port of New York Authority (Ponya) which has steadfastlyAFP - 378 words
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304 1977-09-21 9 Reuter SYDNEY. Tues Transport Minister Peter Nixon has criticised President Carter for his decision to allow Continental Airlines to operate across the Pacific from the United States to Australia. "I regard these matters as serious and ones which may well have to be takenReuter - 304 words
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Article582 1977-09-21 9 BRISKER activity last week still could not stir up real Improvement on the low rates fixed earlier on, largely due to the huge open tonnage prevailing in the Far East. The US Gulf to Japan grain movement secured better rates for owners when three medium bulkers received582 words
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Article, Illustration321 1977-09-21 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVEB Centaur (1330 42/43 Golden Sea 707 (after Seiko Maru) 48 Horn (3EPQ) (0500) 38/39 Izumo Maru (JGSS) (2300 after Frotarlo) 46 King Dragon (0600 23 Rio Grande Maru (JLXV) (1500 33/34 Shlzouka Maru (1700) 10/11 SPES (1600) 8/9 Yamaguchl Maru (JHJI) (0200) 15/16321 words
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Article597 1977-09-21 9 ARRIVALS Service Local Operator Number Time From TMA TL304B 0530 TPE MAS MH682 0810 KCH PAN PA847 0810 SFP/HNL/GUM CPA CX710 1000 HLP GIA QA980 1030 HLP THAI TG423 1035 BKK SLA SQ211 1045 HLP THAI TG981 1050 BKK GIA GA944 1055 PKU GIA GA908 iioo MES597 words
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Article419 1977-09-21 9 JOHORE BARU, Tues. The 417,000-ton supertanker, Berge Emperor will be the 51st ship to call at the Malaysia Shipyard and Engineering Sdn. Bhd., for repair today since its opening late last year. The shipyard administration manager, Enclk Salim Abdul Rahman, in a press briefing said the419 words
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Page 9 Advertisements
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Advertisement43 1977-09-21 9 MERLION SHIPPING AGENCY PTE. LTD SPECIALISED SHIPPING SERVICES WORLD WIDE REEFER CHARTERS HEAVY LIFT RO-RO VESSELS OFF SHORE SUPPLIES SERVICES CREW ROSTER AND MANAGEMENT LINER SHIPPING SERVICES FOR MORE DETAILS RING *****44 OR CALL AT: 1101-B MARINA HOUSE 70 SHENTON WAY SINGAPORE 243 words
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Advertisement54 1977-09-21 9 NOW ON SALE at your regular bookshop. The phenomenal bestseller which has taken America by storm the story of a black American's search for his roots in Africa. ROOTS has sold over 1'« million hardback copies since its publication and it is continuing to top the bestseller lists even now.54 words
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1114 1977-09-21 10 NYT IN a recent telephone conversation, a caller asked Michael Evans if he still considered himself one of the most bearish among the nation's prominent economic forecasters. The soft-spoken, 39-year-old president of Chase Econometrics Associates laughed and said he would like to make aNYT - 1,114 words
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Article, Illustration1592 1977-09-21 10 COLIN BICKLER - By COLIN BICKLER Reuter MANILA: The Philippines enters its sixth year of martial law this week with President Ferdinand Marcos firmly entrenched and with no sign of when the emergency rule will be lifted. The President has announced that he is now embarkedReuter - 1,592 words
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801 1977-09-21 10 UPI LENINGRAD: It was a pleasant Sunday morning with a nip In the air. On the outskirts of Leningrad, a group of young men and women milled around a grove of trees by a railroad. Most carried bulging shopping bags advertising foreign boutiques and products.UPI - 801 words
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Article, Illustration1107 1977-09-21 10 Alan Spence - Banking Italian style Small change in Italy can mean a lot of things, including a sticky boiled sweet, a telephone token, some other small gift or an enormous row in a bank but very seldom does it mean small coinage. "The thing is, explained an Italian businessman, "the Japanese tookFT - 1,107 words
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Page 10 Advertisements
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Advertisement153 1977-09-21 10 GAMBLERS HANDBOOK 9 Sp» fjs A is o s#2? p w 4 7* jfl 0 by E. Lenox Figgis F.C.A. A practical handbook explaining how betting takes place on the world's most popular betting pastimes, including horses, dogs, football pools, sporting events, casino games, such as craps, roulette, etc., sweepstakes,153 words
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650 1977-09-21 11 Reuter AFP TOKYO, Tues. The Cabinet Council of Economic Ministers has decided on measures Japan should consider to curb Its payments surplus as a follow-up to reflatlonary measures adopted this month, the Economic Planning Agency said. The measures for tariff cuts, Import promotion,Reuter; AFP - 650 words
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222 1977-09-21 11 UPI TOKYO, Tues. Japan and Australia are expected to resume negotiations soon on their sugar price dispute following the return to Tokyo last Saturday of Mr. John Laurie, chief negotiator for Queensland sugar growers. Japanese sugar Industry sources interpreted Mr. Laurie's return asUPI - 222 words
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Article99 1977-09-21 11 A FOUR-DAY Singer seminar on audio visual technical service, attended by 16 participants from Asia, started here on Monday at the Hotel Summit. The participants are Singer distributors and customers from Taiwan, Thailand, Indonesia, Brunei. Malaysia and Singapore. The seminar Is conducted by Mr. Harry Davis,99 words
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Article252 1977-09-21 11 UPI TOKYO, Tues. Japan will introduce a bond insurance system soon to facilitate exports of plants, construction and consulting services. According to Ministry of International Trade and Industry (Mltl) officials, the government Is Introducing the system in compliance with a custom among developing countries to callUPI - 252 words
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113 1977-09-21 11 UPI TOKYO, Tues. Secretary of Commerce Juanlta Kreps will visit Japan soon to confer with government and business leaders over bilateral trade Issues, the US embassy In Tokyo announced yesterday. During her stay In Tokyo starting Sept. 26, Mrs. Kreps Is scheduled to call onUPI - 113 words
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412 1977-09-21 11 AFP Reuter TAIPEH, Tues. Taiwan's foreign trade In the first eight months of this year totalled US$l 1,402.6 million, (527.936.3 million) an Increase of 12.9 per cent over the corresponding period last year, according to figures given by the Directorate of Budget,AFP; Reuter - 412 words
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Article126 1977-09-21 11 AFP TAIPEH, Tues. Taiwan companies with foreign and overseas Chinese Investment earned profits amounting to US$7OO million (551.715 miUlon) in 1976, informed sources here reported. Quoting official statistics, the sources said that exports by foreign and overseas Chinese companies last year accounted for 29.3 perAFP - 126 words
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343 1977-09-21 11 Singapore can dominate the "exhibition conference medium" in the Far Eaat through establishing better facilities, said Mr. Saul Poliak, president of Clapp and Poliak Inc. Clapp and Poliah are coorganisers with Singapore Exhibition Services of Chemasia, the Asian international chemical and process engineering343 words
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357 1977-09-21 11 LONDON, Tues. Singapore Is fast becoming the convention centre of the Far East. More and more regional and International organisations are holding their meetings, conferences, exhibitions and trade fairs In the Republic because of the wide range of facilities It can offer. According to357 words
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Article176 1977-09-21 11 Reuter MANILA, Tues. A survey conducted by the Trade Union Congress of the Philippines claims that inflation is rising at a faster rate outside of Metropolitan Manila than in the capital. It said that by the end of June inflation was running at an annual rateReuter - 176 words
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Article324 1977-09-21 11 Reuter SEOUL, Tues. South Korea's gross national product (ONP) crew by 8.6 per cent during the first half of this year over the same period last year, governor Kim Sung-Hwan of the Bank of Korea announced today. This Is a sharp decline from a 17.3Reuter - 324 words
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Article302 1977-09-21 11 AFP HONGKONG, Tues. A Norwegian hydrofoil company, Westermoen, has filed a HKfl.s million (*****.000) claim against Hongkong Resort Co. Ltd which was earlier this year rescued from financial trouble by a consortium of firms. Westermoen's solicitors have informed the high court that the company expectsAFP - 302 words
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Article363 1977-09-21 11 AFP BANGKOK. Tue3. The Soclete d'Etudes et d'Exploration Minlere de L'lndochlne (SEEMI), a company explotlng the Phontlou tin mine In central Laos, has been nationalised with no compensation, Bangkok banking circles reported today. SEEMI, formerly a French company, became partly Lao owned In 1975 toAFP - 363 words
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332 1977-09-21 11 KUALA LUMPUR, Tues. The new Indian government has reiterated its full support for Asean and will Intensify Joint business ventures with individual countries In the region. India had followed closely the recent Asean summit held here and was happy with the outcome. The332 words
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Article, Illustration462 1977-09-21 11 WORMALD International, the Australian manufacturer of fire-fighting equipment, expects the turnover of Its Singapore plant In Jurong Industrial estate almost to double this year. Mr. William Addison, Its regional general manager told Business Times that the market for such equipment was good when It first462 words
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Article95 1977-09-21 11 BEHN Meyer and Company (Pte) Ltd, which has juat been appointed sole distributor in Singapore for Nippon Electric Company products, is launching a series of 16 new NEC audiovisual products. These range from radio cassette recorders and tape decks to colour television sets and professional hi-fi95 words
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Article32 1977-09-21 11 Reuter KUALA LUMPUR, Tues. The Malaysian Government said It raised the total export duty on rubber to 18 cents per pound from lflVi cents, effective Sept 15.Reuter - 32 words
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187 1977-09-21 11 SIX teams from four of Singapore's vocational institutes were yesterday chosen for the finals of the woodworking and upholstery section of the "Top of the Trade" competitions. The section, sponsored by the Timber Industry Board (which has given a grant of $10,000), is one187 words
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Article64 1977-09-21 11 THE Singapore Institute of Standards and Industrial Research will conduct a course on statistical design of experiments for quality control and quality improvement commencing on Oct 7. The 15-lecture course will «c be conducted by SISIR staff every Tuesday and Friday from 7.30 pm to 9.30 pm.64 words
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Advertisement191 1977-09-21 11 APPOINTMENT A well established Construction Company has vacancies for (A) PROJECT MANAGER (B) ENGINEERS to manage and supervise the construction of Building and Civil Engineering projects in Saudi Arabia Successful candidates will be stationed in Saudi Arabia or other parts of West Asia PROJECT MANAGER Manage and Administer protects dealing191 words
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1256 1977-09-21 12 Ready soon DBS Pandan housing project 25-YEAR FINANCING OFFER THE largest single private condominium project undertaken here In one phase will come onto the market early next month when DBS Realty launches Its $100 million 605-unlt Pandan Valley project. Scheduled for completion by the first quarter of next year, the1,256 words
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550 1977-09-21 12 TOKYO, Tues. Datuk Hussein Onn, who arrived In Tokyo on Sunday for a six day state visit, spoke today of the urgent need as well as potentials for cooperation among countries in the Pacific Basin for their mutual benefit. "I do550 words
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Article296 1977-09-21 12 Uncertainty over Aussie grows Reuter CANBERRA. Tues. Uncertainty about the strength of the Australian dollar grew today as the country's foreign reserves slid down a further AS2IO million (***** million) over the past fortnight. The international reserves of gold and foreign currency have fallen steadily since last April by $1.29Reuter - 296 words
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Article169 1977-09-21 12 Reuter TOKYO. Tues. Australian Ambassador John Menadue said today that It offended Australia's national aspirations to act merely as a supplier of raw materials to the Japanese Industrial machine. In a speech prepared for delivery tonight to the Management Research Institute here, Mr. Menadue saidReuter - 169 words
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200 1977-09-21 12 AT MALAYSIAN registered cars will be given permits to enter Singapore for periods shorter than five days with effect from Oct. 1. Malaysians residing In Johore who have proven employment In Singapore may also apply to the Registrar of Vehicles for a special licence200 words
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Article, Illustration296 1977-09-21 12 AFP KUALA LUMPUR, Tun. The appeal of former Bank Rakyat chairman, Datuk Haji Harun Idris and two other former executive*, Datuk Abu Manaor Basir and Ismail Din starts in the Federal Couit here on Thursday. Three weeks had been fixed for the appeal beforeAFP - 296 words
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Article69 1977-09-21 12 NOEE Ann Technical College will organise a course leading to the Certificate of Industrial Management awarded by the Institute of Works Managers (UK). The course will be parttime and will be conducted twice a week for two years. Management and supervisory personnel particularly from the manufacturing sector may69 words
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Article, Illustration352 1977-09-21 12 SALES of Italian fabrics In Singapore have fallen by about 20 per cent since last year. One of the main reasons for this, according to Mr. Olampaolo Panzerl, head of the Italian textiles and scarves trade mission now in Singapore, Is the352 words
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Article187 1977-09-21 12 AFP LONDON, Tues. China has obtained lines of credit exceeding £1,000 million (554,260 million) from West Oerman, French, British and other West European banks, the publication Metal Bulletin reported today. It said the banks Involved were willing to make available a great deal more thanAFP - 187 words
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179 1977-09-21 12 UPI TOKYO, Tues. Many workers In China will receive the first pay raise In 14 years In October, the Kyodo News Agency said today. Kyodos report from Peking said the planned wage hike ranging from 15 to 20 per cent was revealedUPI - 179 words
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172 1977-09-21 12 A PACIFIC travel mart meeting to bring together suppliers of travel from the East Asian region with wholesalers from other countries will be held for the first time In Manila next June. This was decided at the recent 10th PATA East Asia Regional Conference172 words
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Article75 1977-09-21 12 Reuter JAKARTA, Tues. Home Minister General Amir Machmud today dismissed the Regent of Tegal in central Java. Raden Samlno, for Involvement In Illegal levies. The minister In a letter of dismissal dated Sept 20 named the central Java governor Supardjo Rustam as acting Regent of Tegal, aReuter - 75 words
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Article780 1977-09-21 12 LONDON, Tues. Prices closed mostly firmer, although equities and government stocks finished below the day's highs in quiet trading, dealers said. At 3 pm the Financial Times Index was up 5.1 at 522.0. The early rally In equities was extended In cheap buying but shares came off the780 words
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Article167 1977-09-21 12 BRUSSELS, Tues. Britain has agreed to increase the quota of pullovers Imported from Singapore above the previously set figure of 1,410,000 pieces. Also France has withdrawn its demand for restrictions on imports of trousers from Morocco and Tunisia for the last five months of 1977.167 words
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Article138 1977-09-21 12 Reuter TOKYO, Tues. The Tokyo Stock Exchange said it will delist General Telephone and Electronics (GTE) Corp of the US, subject to approval by the Finance Minister. GTE applied for delisting because of a decrease In the number of Its shareholders in Japan. SubjectReuter - 138 words
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Article51 1977-09-21 12 Reuter JAKARTA, Tues. Indonesia will export one million tonnes of cement within the next two years, a Cabinet spokesman said today. It will also export two million motorcycle tyres next year, the spokesman said after a Cabinet meeting led by President Suharto to discuss the country's export drive.—Reuter - 51 words
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Article331 1977-09-21 12 Reuter HAMBURG, Tues. World tin prices, which reached record levels last month, are likely to rise again, the Hamburg Economic Research Institute said In its latest report. A renewed Increase is possible In the short-term if "he expected tightening of supplies occurs in theReuter - 331 words
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Article204 1977-09-21 12 Reuter CANBERRA, Tues. Federal Treasurer Phillip Lynch told Parliament today there was no evidence to support charges that an A 510.000 (5526.930) bribe was paid to a Treasury official to approve a Joint venture by Japanese and Australian companies. Mr. Lynch said Investigations by seniorReuter - 204 words
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Advertisement168 1977-09-21 12 What is Captive Insurance? What is Risk Management? Find out in Hong Kong at the CAPTIVE INSURANCE COMPANIES CONFERENCE MONDAY, NOVEMBER 28 TO WEDNESDAY, NOVEMBER 30 INCLUSIVE. Sheraton Hotel, Hong Kong For lull details of speakers, costs and accommodation write for further details Risk Management Services Hong Kong Office: Room168 words
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