The Business Times, 26 September 1977
1977-09-26
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The Business Times
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Title Section10 1977-09-26 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, SEPTEMBER 26, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article79 1977-09-26 1 AFP KUWAIT, Sun. A further 5 per cent oil price rise will be decided at the next conference of the Organisation of Petroleum Exporting Countries (Opec), the Kuwait Sunday newspaper, A 1 Watan, said today. The newspaper said Opec members were already In contact on this question.AFP - 79 words
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Article57 1977-09-26 1 Reuter WASHINGTON, Sun. A US congressional committee, differing sharply with President Carter's Administration, predicted today the American economy would continue slowing down next year. "The economic outlook for the remainder of 1977 and 1978 is for a slowing down in the rate of real economic growth," theReuter - 57 words
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Article67 1977-09-26 1 AP CARACAS, Sun. Venezuela's 1977 oil production averaged almost 2.4 million barrels per day through Sept 21, the Ministry of Energy and Mines said. The figure compared with an average of more than 2.2 barrels daily recorded over the same period a year ago, the ministryAP - 67 words
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Article82 1977-09-26 1 AFP PARIS, Sun. The leader of the Gaullist RPR party in the National Assembly, Mr. Claude Labbe, today said that the time had come to counter the "scandalous opposition of the US government to Concorde" with deeds, "not just with simple statements." He said that the USAFP - 82 words
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Article62 1977-09-26 1 Reuter TEHERAN, Sun. Iran and East Germany opened talks on economic cooperation here today and East Berlin has agreed to give Iran a longterm credit for buying German machinery and rolling stock. The five-day talks are being attended by East German Deputy Prime Minister, Mr. Wolfgang Rauchfuss,Reuter - 62 words
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Article68 1977-09-26 1 Reuter COLOMBO. Sun. Industry Minister Cyril Mathew said in an interview published today Sri Lanka would soon invite international oil companies to prospect for oil here. He told the island's Sunday Times newspaper that exploration would be on a production basis and that Sri Lanka would not haveReuter - 68 words
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Article103 1977-09-26 1 UPI JERUSALEM, Sun. Israel softened its stance on the structure and composition of Arab representation at a renewed Geneva Middle East peace conference and decided today to accept a US proposal to reconvene the talks. The proposal includes a unified Arab delegation at the opening session of theUPI - 103 words
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Article98 1977-09-26 1 AP BONN, Sun. Terrorist kidnappers of industrialist Hanns Martin Schleyer have relayed new evidence to the West German government that he is still alive, informed sources reported today. The sources gave no details on the communication, which they said reached the government this weekend, fully a weekAP - 98 words
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Article114 1977-09-26 1 THE following list of stocks gives the 10 most traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units, closing prices on Friday and the high and low for 1977. Company Turnover Prices High Low '000 Sept 23 1977114 words
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LOCAL STOCK INDICES
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Article73 1977-09-26 1 Sept 19 Sept 20 Sept 21 Sept 22 Sept 23 ft BT Index 430.46 430 71 427.04 425.00 426.19 Industrials: 265.16 264.19 262 87 262.33 261.56 <s> Finance: 434.13 433.75 432.79 432.13 431.56 Hotels 170.00 170.17 170.39 170.46 170.28 Properties: 166.33 165.71 165.32 164.15 164.70 t Tins: 129.73 130.0073 words
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Article90 1977-09-26 1 Sept 19 Sept 20 Sept 21 Sept 22 Sept 23 ft BT Index: 475.73 472.96 466.64 458.87 465.15 Industrials: 290 45 290 06 289 01 288 56 288.46 Finance: 378.67 378.21 377.48 375.20 375.82 Hotels: 175.13 175.13 174.04 174.94 175.01 Properties: 152.59 151.28 150.58 149.97 150.17 t Tins: 135.4890 words
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Article, Illustration1259 1977-09-26 1 COLIN CHEE - RATE OF Bpc IN FIRST HALF By COLIN CHEE DURING THE first half of the year, Singapore's economy grew by 8 per cent in real terms. In a mood of restrained cheer, the Monetary Authority of Singapore announced this in Its Just released second quarterlySource: MAS Second Quarterly Review 1977 - 1,259 words
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899 1977-09-26 1 SINGAPORE'S gold market has grown by leaps and bounds since dealing was completely liberalised In 1973. And the Increase In the past two years has been particularly strong. Total turnover In 1976 was 10 times the annual average recorded between 1969899 words
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Article75 1977-09-26 1 MANILA, Bun. Concerted action by governments of Asean on shipping problem* of the region will be discussed here tomorrow, officials said today. The meeting on the first Asean Joint ad hoc working group on shipping would be the first time that Asean trade and transport ministers formally75 words
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395 1977-09-26 1 RESPONSE to the Nanyang Press Singapore (1975) Ltd. •hare offer which came out last Friday has been overwhelming. About 10,000 copies of the proapectua issued to the varioua underwriters by the managers Development Bank of Singapore were anapped up by the evening, DBS395 words
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600 1977-09-26 1 TUCKED INTO a corner of a new publication, The Financial Structure of Singapore, the Monetary Authority of Singapore may have for the first time put on public record Its monetary and financial development policies and how it has gone about formulating and applying600 words
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Page 1 Advertisements
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Advertisement60 1977-09-26 1 foo +r Wiyfoong MAF A lending hand when Wayfoong Mortgage you neea and Finance (Singapore) Limited it lllOSt Shaw House. Ground Floor. 354 Orchard Road, Singapore 9. Tel: *****7. INSIDE Leisure/TV A Radio/Croaswortij P2 Leisure P3 Features P4 International Co Newt/ Overseas News P5 Local Co. News PI Overseas Markets60 words
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Advertisement99 1977-09-26 1 SONY VIDEO SYSTEM Trust! for your HAAIi G Wlth customar v Vision and foresight Sony pioneered video equipment. Today, Sony is one of the world's foremost manufacturers of integrated video equipment. Research and experiments are continuously carried out to bring you the most advanced and sophisticated video components. "ITS A99 words
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Advertisement150 1977-09-26 1 Albert Photo KAyJFor the best in photographic equipment HEAD OFFICE 121 Ist Floor Orchard Towers lopp Hotel Smgapura) Orchard Road Stngacore9 Tel *****3 *****1 *****15 JAL FLIGHT 712: THE TOKYO EXPRESS "■I I NEW YORK VANCOUVER imir Wh&l h: A W. fc* k :*W t>v < ~rf u WSAN FRANCISCO150 words
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REVIEWS
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Article644 1977-09-26 2 THE spotlight falls this week on the International Monetary Fund meeting in Washington. Finance Ministers from all over the non-com-munist world have already gathered for their annual Jamboree. There will as usual be as much hot air as there is cold fact bandied around in644 words
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Article688 1977-09-26 2 HANS FANTEL - By HANS FANTEL NYT NEW YORK: Walter Stanton, the manufacturer of phonograph cartridges, occasionally Invites members of the press and audio Industry for leisurely outings on his boat. The purpose is to provide a congenial setting for the exchange of Ideas on trends and problems inNYT - 688 words
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Article, Illustration1209 1977-09-26 2 HAROLD SCHONBERG - Stokowski one of the greatest conductors By HAROLD SCHONBERG NYT NEW YORK: It was a bad week. Leopold Stokowski died, to be followed three days later by Maria Callas. The soprano's death was a real shocker. There had been no reports of ill health, and she should have been aroundNYT - 1,209 words
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Article, Illustration577 1977-09-26 2 CKT GOOD news and bad news are all the same thing to that unfortunate blighter, the record collector who Is an absolute serf to his magpie-type habits. Deutsche Qrammophon has issued a second cycle of the Beethoven symphonies by Herbert von Karajan and theCKT - 577 words
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Article, Illustration656 1977-09-26 3 EMIL SVEILIS - By EMIL SVEILIS UPI LENINGRAD: The worldfamous Kirov Ballet Is getting a blood transfusion to revive a sagging reputation and restore the company to Its long-established mark of excellence. The main surgeon is 40-year-old Oleg Vinogradov, who as the Kirov's new chief choreographer,UPI - 656 words
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Article, Illustration747 1977-09-26 3 VERNON SCOTT - LEADER OF CED By VERNON SCOTT UPI HOLLYWOOD: If Jane Fonda Is making less news than during the tempestuous days of the Vietnam War and Watergate, It is not her fault. Despite starring in five films in the past two and a halfUPI - 747 words
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Article405 1977-09-26 3 AP PARIS: Londoners who survived the blitz should be able to live through a savage assault of hilarious criticism leavened with generous praise launched by France's two most Irreverent food and travel writers, Henri Gault and Christian Mlllau. Their French language guide to "1,500 good, very goodAP - 405 words
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Article, Illustration3068 1977-09-26 3 THE DEADLINE for submission of my contribution to this series has crept up on me much too fast. This Is of course not entirely unexpected. My middle Initial is P which I sometimes feel stands for procrastination. however perhaps I am being unduly harsh and self critical.3,068 words
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Page 2 Advertisements
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Advertisement31 1977-09-26 2 g s 88$ 1 1 ,\v s ■J#* BALLY OF SWITZERLAND r~3 t THE LEADING TAILORS STORE OUTFITTERS HIGH ST CENTRE OCEAN BUILDING SUPREME HOUSE GOODWOOD. HILTON, RAFFLES HOTELS COLD STORAGE31 words
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Page 2 Miscellaneous
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Miscellaneous52 1977-09-26 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 pm on Sept 25 at Singapore airport. Maximum Temperature 28.8° C Associated Humidity 81 Minimum Temperature 23.0° C Associated Humidity 97 Hours of Sunshine 2.00 Rainfall in Millimetres 9.9 Total Rainfall for the Month 173.6 Total Rainy Days for the52 words
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Miscellaneous704 1977-09-26 2 SINGAPORE 5 3.00 PM Opening announcements followed by Kudumba Malar (Tamil-Repeat) 0 3.30 Diary of events (Tamil) 3.35 Afternoon matinee A lady mislaid Starring: Phyllis Calvert, Alan White, Thorley Walters. 4.35 Intermission. 6.05 Opening announcements followed by Inquiry Controlling Environment. 6.30 News in Brief 6.35 The World Of Spot The704 words
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Page 3 Advertisements
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Advertisement202 1977-09-26 3 Success in today's world of business calls for a constructive approach to financing, a sound knowledge of the available markets, and original ideas. These are the strategic qualities that Wardley can provide throughout Asia. Wardley Limited, backed by the resources and experience of The Hongkong Bank Group, can offer financial202 words
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Page 3 Miscellaneous
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Miscellaneous45 1977-09-26 3 BriStcW.'FraAjc Dickans U>H\CH ONE. OF THOSC STuPO TN(P(STS »S ResPoMS »e>L€_ FCR OOT rny Mou) me-ivhj D Sue s I£FT fn£ <ION£yS OOT OF "M£ STfcPK Pvno *DN£.y P»C SHt'S LEFT P>N S OUT OF fbISSON SHCS UJRITT£J>I 'BfViGFRS OUJSM gDOW6' <Hdc ef Booker GORy45 words
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Article, Illustration1913 1977-09-26 4 GRANTING AID FOR PROJECTS FT LONDON: Only one major transfer of wealth to developing nations has occurred In the post-colonial era. That was the four-fold increase of oil prices, and It benefited only a handful of them. The success of the Organisation of PetroleumFT - 1,913 words
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1303 1977-09-26 4 TERESA LIM - By TERESA LIM THE National Maritime Board (NMB) is making good headway with Its plan to erase the Image of the Singapore seaman as an 111dlsclpllned and low-grade worker. Crucial to the change has been the NMB's firm steps to identify and weed1,303 words
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554 1977-09-26 4 Robert del Quiaro - Peru powder keg of labour problems By Robert del Quiaro FT LIMA: The military government of Peru Is on the brink of a decision to suppress organised labour in order to enforce an austerity programme, and the workers are on the brink of fighting back, according to union officials InFT - 554 words
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Article982 1977-09-26 4 Antony Thorncroft - THE LONDON SALEROOMS THERE will be some interesting art sale* this season. Sotheby's, for example, will be selling a great auk and five railway carriages that once formed part of the Orient Express making the point that the world's top salerooms may cast a much broaderFT - 982 words
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Page 4 Advertisements
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Advertisement531 1977-09-26 4 This months new Penguins Ifscottfttzgerald 111 I tsi inrcs THE IMPERIAL ACHIEVEMENT The Last Tycoon: F. Scott Fitzgerald Exhausted by Hollywood hackwork, Fitzgerald died before he could complete the book that many people regard as his masterpiece. His bittersweet novel of Hollywood in the thirties is now a Paramount film531 words
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OVERSEAS
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576 1977-09-26 5 GOVTS WANT TO RETAIN BARRIERS NYT PARIS, Sun. International trade Is Increasingly being subject to informal and disruptive restrictions that many governments want to make permanent, according to a new report prepared by the secretariat of the Oeneral Agreement on Tariffs and Trade. TheNYT - 576 words
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216 1977-09-26 5 UPI BEIRUT, Sun. Mr. All Mohammed Jaidah, secretary general of the Organisation of Petroleum Exporting Countries advised the Arab aUtec yesterday against the premature use of the "oil weapon". "We cannot compare conditions today with thoss of the last Arab-Israeli war," Mr.UPI - 216 words
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542 1977-09-26 5 Reuter WASHINGTON, Sun. The major development banks, the World Bank, Asian Development Bank and Inter-American Development Bank, have agreed to guarantee bond issues by developing countries. The three Institutions will consider requests for guarantees and technical support will be provided by a World BankReuter - 542 words
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INTERNATIONAL COMPANY NEWS
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Article106 1977-09-26 5 Reuter BANGKOK, Sun. Thai United Gold Trading signed a contract with the finance ministry for the right to import 480,000 troy ounces of gold bullion during the next two years, a company source said. The contract followed a tender called last month by the finance ministry,Reuter - 106 words
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77 1977-09-26 5 Reuter NEW YORK, Sun. Chemical Bank said It agreed in principle to acquire the holdings of Credit Suisse, Baring Brothers and Northern Trust in London Multinational Bank (Multibank). Chemical said that as a result of the transaction, Its holdings In Multlbank will be increased toReuter - 77 words
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88 1977-09-26 5 Reuter HOUSTON, Sun. Tenneco Inc said Its Tenneco LNG Inc unit signed a letter of intent with Dome Petroleum of Calgary to build a terminal near Saint John, New Brunswick, to receive, store and re-gasify liquefied natural gas imported from Algeria. The company saidReuter - 88 words
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Article422 1977-09-26 5 Reuter LONDON, Sun. Banking and bond market analysts here predict a possible downdrlft in UK minimum lending rate to or five per cent late this year from six per cent now, before turning upwards, while the managed sterling spot exchange rate Is generally forecastReuter - 422 words
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Loans
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Article96 1977-09-26 5 Reuter FRANKFURT, Sun Borg-Warner Overseas Capital Corp of Delaware will terminate Its 100 million mark 7.5 per cent 15-year Eurobond ahead of schedule In November, bond sources said. The bond, dated 1969, will be repaid at 101 per cent, they added. It was issued at 97.5 perReuter - 96 words
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Article34 1977-09-26 5 Reuter FRANKFURT, Sun. The 150 million mark seven per cent seven-year Eurobond for Banco Obras of Mexico was priced at 99.25 per cent, a spokesman for lead manager Dresdner Bank said. Reuter.Reuter - 34 words
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Article36 1977-09-26 5 Reuter DUSSELDORF, Sun. Petroleoßrasileiro is planning to float a 150 million mark seven-year Eurobond, probably at seven per cent, lead manager Westdeutsche Landesbank Glrozentrale said. Final conditions will be set on Oct 3. Reuter.Reuter - 36 words
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Article77 1977-09-26 5 Reuter LONDON, Sun.— The Babcock Nederland BV US$35 million convertible Eurobond has been priced at par, with a coupon of seven per cent, lead manager Orion Bank said. The bonds, due 1992, are convertible into the ordinary stock of Babcock and Wilcox Co Ltd, the guarantor.Reuter - 77 words
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Article39 1977-09-26 5 Reuter AMSTERDAM, Sun. Amsterdam Rotterdam Bank NV said a private placement for Akzo NV of 60 million eurogullder T/t per cent seven-year notes priced at 99% per cent was fully taken up on the first day of subscription.Reuter - 39 words
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Article53 1977-09-26 5 Reuter BRUSSELS, Sun. Oesterrelchlsche Kontroll bank AO has signed a US$l5 million seven-year credit .agreement with Kredlet- bank NV. A Kredietbank spokesman declined to specify details of the interest rate, but a bank statement said it would be a margin above London Interbank Offered Rates and subject toReuter - 53 words
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Article39 1977-09-26 5 Reuter NEW YORK, Sun. Mobil Corp said its Mobil Holdings Luxembourg subsidiary plans to redeem its outstanding £10 million 5% per cent 15-year bonds early with a redemption price of 101.5. The bonds were issued In 1965. Reuter.Reuter - 39 words
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Article102 1977-09-26 5 Reuter ZURICH. Sun. Ste Natlonale Des Chemlns De Fer Francais (SNCF) will float an 80 million franc, 15-year loan on the Swiss market from Oct 3 to 6. primary market sources said the conditions of the loan are expected to be fixed this week, but the choice ofReuter - 102 words
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138 1977-09-26 5 Reuter HOUSTON, Sun. El Paso Co said third quarter earnings will be reduced by about US$ll million (27 cents a share). The reduction Is due to Its decision not to pursue further efforts In Congress to reverse President Carter's selection of a trans-CanadianReuter - 138 words
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Article79 1977-09-26 5 Reuter MILAN. Sun. Montefibre SPA and its French subsidiary Montefibre France SA are in constant contact with the French government concerning plans for lay-offs at its lossmaking synthetic textiles plant at eastern France, a spokesman mid. He was unable to make any comment on French reports thatReuter - 79 words
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Article151 1977-09-26 5 Reuter BRISBANE. Sun. Toft Brothers Industries said It made an unaudited consolidated operating profit of A 5306,000 on sales of $12.23 million for the six months ended June 30. 1977. This represents a sharp rise over a profit of $62,000 from sales of $8.06 million previously.Reuter - 151 words
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Article58 1977-09-26 5 Reuter ROTTERDAM, Sun. Rljn-Schelde-Verolme NV (RSV) said It plans shorttime working for some of Its 3,800 employees at Its Dok En WerfmlJ WlltonFljenoord unit due to low capacity use. About 350 workers will work half their normal hours and 1,800 will work one-third less than normalReuter - 58 words
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162 1977-09-26 5 WASHINGTON, Sun. A group of Japanese securities companies Is making a public offering of 15 billion yen of long term InterAmerican development bank bonds In Japan. The new bond Issue marks the first public offering of an Inter-American Development Bank issue in Japan and162 words
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Article169 1977-09-26 5 Reuter NEW YORK, Sun. Caltex Petroleum Corp is seeking to buy 50,000 tonnes of Taching crude oil from China for shipment to Japan, a spokesman In New York said in response to an inquiry. But he said "the deal hasn't been concluded." Published reportsReuter - 169 words
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347 1977-09-26 5 Reuter NEW YORK, Sun. Some Wall Street analysts think American Express* proposed offer to acquire Philadelphia Life Insurance does not hold major benefits for American Express. Also, It Is by no means a certainty Philadelphia Life, which has another suitor In Tenneco Inc, favoursReuter - 347 words
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Article101 1977-09-26 5 Reuter MEXICO CITY, Sun. Petroleos Mexlcanos (Pemex) said it has received offers from several foreign finance institutions of funds to build the planned natural gas pipeline from the Tabasco-Chiapas oilfields In south-east Mexico to the Texas border. The 120 cm pipe, about 1,207 km long,Reuter - 101 words
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Article75 1977-09-26 5 Reuter NEW YORK, Sun. A spokesman for J. Aron and Co. declined to comment on a Reuter report that the company had bought 270 silver bars from MlneroPeru. However, a New York agent for the Peruvian company confirmed the sale noting the purchase was part of anReuter - 75 words
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Article138 1977-09-26 5 Reuter LONDON, Sun. Hill Samuel said It will have a 20.5 per cent stake In a new South Korean merchant bank, Saehan Merchant Banking Corp, based in Seoul. The bank will have 55 per cent Korean and 45 per cent non-Korean ownership of itsReuter - 138 words
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Article36 1977-09-26 5 Reuter SANDY HOOK (Connectlcutt), Sun. Uniroyal Inc said Its Fabric Fire Hose Co unit has agreed in principle to the sale of Its assets to Angu& Fire Armour Corp. It gave no financial details. ReuterReuter - 36 words
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Article114 1977-09-26 5 Reuter NEW YORK, Sun. Eastman Kodak Co said It Introduced a conductive recording film So-101 which incorporates a new technology involving the electro-photography concept. A company spokesman said that like other products in the graphic field, It does not contain silver. He described the product as aReuter - 114 words
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Article69 1977-09-26 5 Reuter BUFFALO (New York), Sun. Dunlop Tire and Rubber Corp said It is recalling a total of 2,621 of Its tyres because they may fail to pass government high speed standards. included in the recall, are Oold Seal radial passenger car tyres, Its Max Trak-grlp winter tyres,Reuter - 69 words
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Page 5 Advertisements
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Advertisement141 1977-09-26 5 Bu SINGAPORE ness SINGAPORE HIGHLIGHTS OF OUR SEPTEMBER ISSUE: 1977 PRICE $300 HEADING FOR ANOTHER RECESSION N/yC(P) 162/1/77 The economic performance of the EEC countries and Japan points to a gloomy new year. One way out is for the US to run a huge deficit, but this will lead to141 words
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COMPANY NEWS
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559 1977-09-26 6 MALAYSIAN Multi-Pur-pose Holdings, the company which raised Ms3o million from the public earlier this year, has set up its organisational nucleus to spearhead its various commercial and industrial programmes. Several key appointments have been made and the company has moved to its brand-new premises559 words
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LATEST RESULTS
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Article26 1977-09-26 6 Unaudited group pre-tax profit M 58.33 million ($4.75 million) for the first half-year ended June 30, 1977. Sales $86.65 million ($61.81 million).26 words
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Article23 1977-09-26 6 Unau- dited pre-tax profit $245,270 ($138,120) for the first half year ended June 30, 1977. Net sales $5.58 million ($4.75 million).23 words
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Article50 1977-09-26 6 Unaudited group pre-tax profit M 56.37 million ($4.06 million) for the first six months ended June 30. 1977. Sales $47.66 million ($43.75 million). Parent company pre-tax profit $6.36 million ($3.50 million) on turnover of $45.57 million ($41.99 million). Interim dividend 10 per cent (10 per cent TE).50 words
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Article39 1977-09-26 6 Un- qudited pre-tax profit M 5271,923 ($134,574) for the first six months ended June 30, 1977. Rubber sales $723,629 ($616,517). Rubber harvested 865,000 lbs (784.000 lbs). Average selling price per lb 83.66 cents (78.64 cents).39 words
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292 1977-09-26 6 SOUTHERN Malayan Tin Dredging Ltd., and Southern Klnta Consolidated, Ltd., the two remaining London-based tin companies of the New Tradewlnds Group will stop trading on the stock exchange from 4 p.m. Oct 14, 1977 In advance of their transfer of domicile from the292 words
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Article466 1977-09-26 6 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 Pahang Consolidated 10% Aug 3 Sept 30 15% 10% Keck Seng 10%I Sept 5 Sept 30466 words
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Article146 1977-09-26 6 RoyalRamada reduces loss HOTEL Royal-Ramada has managed to reduce its net loss for the six months ended June 30, 1977 to $103,878 from $410,283 previously. That much Is true of the better results which chairman Dato Aw Kow led shareholders to expect In his last annual report. He had said146 words
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COMPANY MEETINGS
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Article27 1977-09-26 6 THE following company meetings are due: Sept 26 at 10.00 a.m. at Tlngkat Kedua, Block E Kompleks Pejabat Damansara, Damansara Heights, Kuala Lumpur.27 words
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Article18 1977-09-26 6 Sept 29 at 10 a.m. at Ban Hln Lee Bank Chambers, Ist floor, Beach Street, Penang.18 words
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Article19 1977-09-26 6 Sept 29 at 10.30 a.m. at Ban Hin Lee Bank Chambers, Ist floor, Beach Street, Penang.19 words
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Article2545 1977-09-26 6 Or'. Or". Nat m—k jtn Lait W«k Dtv Dtv Y*H P/l Vol Higfc Low Cmpujt Sal* +«r- CV <•000) High Low 8ECTION ONE INDUSTRIALS 154 136 Ac ma 140 -1 12.ON 1.8 8.5 6.5 12 141 139 204 172 Alcom 172 10.0 0.5 5.8 27.72,545 words
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Page 6 Advertisements
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Advertisement176 1977-09-26 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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INTERNATIONAL STOCK MARKETS
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Article430 1977-09-26 7 TOKYO: The market on Saturday, cloaed slightly higher after opening easier as some specula tires and spot trading shares rose towards the close, dealers sakl. The Dow Jones average rose 8.96 to 5,169.00, with volume 120 million shares The New Index cloaed at 385.25, up 0.02. Toy® Sum and430 words
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Article297 1977-09-26 7 AMSTERDAM: The market firmed in calm conditions on Friday, aided by favourable half-year company reports. Royal Dutch led Dutch Internationals 0.00 guilders firmer. Shippings were quietly firmer following the suspension of Holland Amerlka Lijn (HAL) pending a company statement. A bid for HAL is expected, bourse sources said. Among297 words
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Article167 1977-09-26 7 BRU88EL8: Most Belgian shares were lower in quiet trading on Friday, market sources Against the general trend, Disro, Hoboksn and Btefls rose, while among shares to lose ground were Sofia*, glsrtrsfcsl. Asturisoae, Coeksrill, Clsbecq. UCB, Tabecoflaa and ArM. UK shares eased, Oermans were little changed, French firm and Dutch167 words
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Article169 1977-09-26 7 MILAN: The market closed firmer on Friday, In rather quiet trading, dealers said. Most sectors recovered recent losses on stronger demand following higher first-half results from several companies, fKpy Flat. Pirelli and Olivetti were among leading Industrials to show gains. Anie was unchanged while Montedison and Snia ViaeoM were169 words
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Article299 1977-09-26 7 ZURICH: The market was Irregularly higher on selective Interest on Friday, dealers said. The Credit Suisse Index was unavailable. BwiiMlr firmed and banks also pointed higher. Financials closed predominantly firmer Including Bally, OerLlkon-Buehrle, Sika-Fuians and Schindlar participation certificate. However, Schladlor bearer, Mikron and Motor Columbus dipped. Insurances were little299 words
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Article304 1977-09-26 7 FRANKrURT: Shares closed higher on Friday, as a technical reaction to the previous disappointing trend after an uncertain start, bourse sources "Chemicals gained up to two marks while In banks. Deatacka Bank and In electrlcals, i were up 1.90. In autoe, Dalmlsr rose 2.00 marks and In stores, was304 words
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Article373 1977-09-26 7 JOHANNESBURG: Gold shares closed mixed following bouts of selective profit-taking on Friday, dealers said. FtnandaT minings were mostly harder In quiet trade. Da Bmh traded at 495 cents. Coppers wen mixed and platinum shares easier. Tin share Bssttsrg roee 50 cents to 1,060. Coal share IMrtsafc fell 25 cents373 words
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Article273 1977-09-26 7 TORONTO: The market held steady throughout the session on Friday, but gave up ground In the final hour to close fractionally lower In moderate tradcomposite Index was off 0.2 and declines outnumbered advances 192 to IM. Among the sub-groups, pipelines were up 19 points but golds and transportation issues273 words
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Article1281 1977-09-26 7 On Sept 23 TRADING on the Chicago Board Options Exchange came to 81,252 contracts on Friday, compared with 58,214 contracts on Thursday. OPTION OCT JAN APL STOCK Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel AUR AUR Avon Avon Bank Am Bank Am Bank Am Beth1,281 words
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Article359 1977-09-26 7 PARIB: The market firmed sharply in hectic and heavy trading on Friday, with reports of furtner difficulties In the leftwing alliance generating confidence In all sectors, dealers said. The first 35 shares quoted on the "Terme" futures market rose an avers** 3.9 per cent. Cie Baacairs. CCT and CIC359 words
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Article957 1977-09-26 7 NEW YORK: After an all-day advance on Friday, the stock market finished the seeslon about where It started. Trading was moderate. Among favourable economic news Items, analysts cited the Kovernment's report on Thursday of a three per cent Increase In August's durable goods orders. The Dow Jones Industrial957 words
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Article62 1977-09-26 7 FINANCIAL TIMES INDUSTRIALS Friday 504.7 Thursday 506.5 Week Ago 531.9 DOW JONES AVERAGE industrials Friday 839.14 Thursday 839 14 Week Ago 856.81 LONDON DOLLAR PREMIUM £r ld *y 90*4 to 9o* Thursday 00% to 90% H.R. HANG SENG 418.17 419.43 Week Ago 424.62 SYDNEY INDUSTRIALS Friday 371.97 Thursday 371.8662 words
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Article453 1977-09-26 7 NYT THE New York- stock market stumbled again last .week, reflecting a variety of negative Influences. The Federal Reserve apparently tightened its monetary policy, and the government reported that the United States' international payments deficit deepened in the second quarter. If that wasn't enough gloom for WallNYT - 453 words
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Article301 1977-09-26 7 AFP THE Tokyo Stock Exchange last week suffered a substantial decline In slow trading in the holidayshortened five-day week, with the Dow Indicator dropping below the 5,200yen marm. Analysts say the market In a way, remained In the process of a technical retreat from a month-longAFP - 301 words
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Article278 1977-09-26 7 Reuter TRADING on the Sydney stock market remained depressed last week despite some buoyant reports showing Increased profit, dealers said. Economic uncertainties, their effects on local companies and the performance of major overseas stock markets were to blame, according to some brokers. The strengthening of prices on theReuter - 278 words
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Advertisement461 1977-09-26 7 BUSINESS TIMES Airline Directory Aeroflot Soviet Airiin** 110-112 Show Centra, Orchard Raad, (T«l: 377.111) Air Ceylon 302-B, 3rd Floor, Merino Houee Shenton Woy, Singoporo (1) (Tel: ***** M) Ground Floor, ICS Building, Shenton Way Singopore 1 (Tel: *****11) 16th Floor, UIC Ming, Shenton Way, Singoporo 1 (Tel: 2205.277) Air New461 words
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COMMODITY REPORTS AND PRICES
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Article211 1977-09-26 8 LONDON, Sun. Terminal rubber ended the day steady 0.10 pence lower to 45 pence per kilo higher on Friday. Volume totalled 493 lots, Including 13 of five tonnes 459 of 15 tonnes and seven options. Outsider buying lifted prices during the afternoon following some early selling. Physical211 words
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Article143 1977-09-26 8 THE Straits tin price In Penang on Saturday was down $4.00 to $1711 on an official offering down 39 tonnes to 246 tonnes. In LONDON on Friday, tin on the day lost mostly £80 for Standard grade and £110 for high grade. The market hovered around end-morning levels143 words
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Article352 1977-09-26 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY Coco* a t OU: Bulk 877 sellers, old drum 882 sellers, new drum 887 sellers. Copra: Mixed (loose) UK/Cont. 848 buyers. Popper: Muntok AST A white f.o.b. 100* NLW 8415 sellers, Sarawak white f.o.b. 96* NLW 8395352 words
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Article85 1977-09-26 8 C.I F. Rotterdam prices quoted In London on Friday In US dollars per ton Friday Pre*. Malaysia 5% (fa btilk Nov Sumatra 5% Sept Oct Nov Dec Jan Mch Nigeria 5% ffa bulk sterling per long ton ROTTERDAM Sumatra Oct Zaire Belg francs per kilo 448 sir unch85 words
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Article266 1977-09-26 8 LONDON, Sun. Copper wire bars on the day lost £15 for Cash and £16 for Three Months on Friday. The market continued to lose ground under pre-weekend liquidation which was Induced by the trend in US futures. Three Months traded from £706 down £702 In relatively light trading of266 words
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Article44 1977-09-26 8 LONDON, Sun. Lead fell by £6.50 per tonne all round on Friday. The market continued to give ground under long liquidation In the absence of fresh physical demand. Three Months traded down to £343.50 on sales of 450 tonnes which were mainly carries.44 words
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Article38 1977-09-26 8 LONDON, Sun. Zinc declined by mostly £5.50 per tonne on Friday. This metal was very quiet but values softened further under light hedge selling to close at £299 per tonne for Three Months. Sales were 750 tonnes.38 words
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Article415 1977-09-26 8 BANGKOK, Sun. Quiet conditions prevailed In the rice market during the last week. No business was recorded either In the private or government sector, as the government was tightening Its control over rice export trade to ensure there are adequate supplies for domestic consumption. According to trade sources, activity415 words
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Article44 1977-09-26 8 Sept 19 Sept 20 Sept 21 Sept 22 Sept 23 •Tin Tonne Rubber (S) Rubber (M) $1,645 275 215.00 216,000 $1,658 310 212.25 213.50 $1,691 242 212.00 213.35 $1,711 270 212.75 214.00 $1,715 285 215.25 216.25 cents per kilo per picul44 words
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Article394 1977-09-26 8 IN the Singapore market, the kllobar opened at 5511,983 on Saturday. Due to a strong market in Hongkong, the metal was bid up to close at a high of 5512,003 in thin trading conditions. In the London market, the metal opened at U*****.15/35 and was bid up to close394 words
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Article248 1977-09-26 8 London, Sun. Silver lost 1.3 to 1.8 pence per troy ounce on Friday. The decline at New York and lower gold brought out endweek liquidation which took Three Months down to 285.3 pence before proflttaklng purchases steadied the position to 285.0 pence. Sales of 91 lots were boosted by248 words
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Article321 1977-09-26 8 LONDON, Sun. Coffee finished a quiet morning down £16 to up £20 with nearbys showing declines on Friday. Volume amounted to 1082 lots. Traders said nearby months are subject to liquidation pressures as the amount of tenderable grading continues to Increase. Some 490 gradlngs were posted In the morning321 words
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Article228 1977-09-26 8 LONDON, Sun. Futures closed £3.35 to £2.70 down on sales of 3,585 lots on Friday. Dealers said the market continued Its easier trend reflecting the weight of available supplies of nearby shipment sugar and the lack of any positive news of the ISO talks in Geneva. The decline accelerated228 words
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705 1977-09-26 8 FRESH overseas buying Interest did breathe some life into the Singapore commodity market last week. And prices held from steady to firm In generally lowvolume trading. Peppers had one of their best weeks In many months as grinders In Europe and America resumed705 words
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Article150 1977-09-26 8 LONDON, Sun. Futures closed £118 higher In September and £22 up to £5 down In other positions on Friday. Sales totalled 3182 lots. After lunch the market followed through from the morning's advance and near December reached the £40 limit up at £2552 per tonne. At the same time150 words
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Article118 1977-09-26 8 CHICAGO, Sun. Soybean futures posted gains of two to 4% cents a bushel at the close, after trading at six to 3Vi cents a bushel around mtdsesslon. Prices rose early on short covering and speculative buying generated mainly by the forecasts of rain In midwest soybean areas and resultant118 words
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Article79 1977-09-26 8 CHICAGO, Sun. Wheat futures posted gains of IK to 2V« cents a bushel around mid session on relatively light trading and closed with gains of to four cents a bushel on Friday. Trading was light through most of the session but speculative support was stimulated by commercial buying and79 words
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MONEY AND EXCHANGES
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Article159 1977-09-26 8 EARLY last week the US dollar tended weak against major European currencies in overseas markets. Its weakness was felt in the Singapore forex market on Monday when US dollar/ Singapore dollar fell to a tow of $2.4410/15 after opening at $2.4437/47. The main reason for the sharp fall was159 words
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Article44 1977-09-26 8 1 lCRl' 7 A Ummm Rank ft>. Citibank Bangkok Rank 7 HSBC «H Hank of America t>. in do tun U.nk nf riiiil* 7 «>4 H.nk nf Tnkvn fi'i «>4 Rank Nefara Indonesia OCBC 7 OUB L'CH 7 t'MBC i»as I'OB44 words
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Article302 1977-09-26 8 Source: Commercial Discount Company Limited THE tight money conditions experienced after the Sept. 14 bond Issue remained unchanged throughout last week and except for Wednesday when It dipped to 3 per cent due to technical factors, the overnight rates were at high levels. Houses unavoidably sought "lender ofSource: Commercial Discount Company Limited - 302 words
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Article217 1977-09-26 8 Asian rates RATES rose 1/8 per cent across the board upon news of Increase In US money supply Ml up 2 billion and M 2 up 2.6 billion. ABIAN currency average deposits rate* (or the week ended 23.9.77. U88(BM Prtew) Hifk Urn Idayi 8 5/18 J/18 1 mth ....81/2 2217 words
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Article658 1977-09-26 8 ZURICH, Sun. The dollar lost some ground In the first half of the week, but recovered subsequently, ending the week slightly higher against most European currencies. The Swiss franc strengthened considerably, with the dollar/ Swiss franc relation falling from 2.3821 a week ago to 2.3630, after having touched a658 words
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Article148 1977-09-26 8 NEW YORK, Sun. The dollar closed weaker on balance here after a quiet, mostly featureless afternoon, dealers said on Friday. Trading was restrained ahead of the International Monetary Fund meeting in Washington next week and US August trade figures which are due on Monday. Many dealers expect a148 words
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Article54 1977-09-26 8 A TIGHT market situation is still seen in the local money market with day to day funds dealt at an average in the region of 7 per cent. Terms have been basically quiet with rates still remaining high with one, two and three months closed at stt-H, 5*54 words
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Article40 1977-09-26 8 FOR the week ended Friday Sept 23 the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND 2* to 4* GENERAL FUNDS 2\ to 4* Movement of funds totalled $611 million.40 words
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Article206 1977-09-26 8 LONDON, Sun. The Swiss franc drifted higher towards the close In relatively quiet trading as operators took positions In the franc over tne weekend, dealers said on Friday. They said there was movement out of the mark after Oerman real ONP rose three per cent In the first half206 words
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Article32 1977-09-26 8 FRANKFURT exchanges closing quotes on Sept. 23. U.S. 2.3275/85 U.K. 4.057/065 Netherlands 94.24/34 Switzerland 98.51/61 Belgium (com) 6.48/49 Belgium (fin) 6.47/48 France 47.18/28 Norway 42.14/22 Italy 2.630/640 Japan 0.8720/30 Canada 2.1675/9032 words
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Article153 1977-09-26 8 Euro rates LONDON, Bun. Eurodollar deposits rates closed firmer on Friday following the increase In money supply figures and rise In FED funds to around 0-5/ 16 before Federal Reserve Bank intervention on Thursday, dealers said. Trading was quiet. One month through to three months held steady while others firmed.153 words
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Advertisement167 1977-09-26 8 ASM RESEARCH BULLETIN r MONTHLY ECONOMIC REPORTS With monthly political luppbnwnt for UP-TO-DATE HANDY REFERENCE 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 is167 words
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MONDAY SPORTS
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813 1977-09-26 9 1984 OLYMPICS NYT AP COLORADO SPRINGS, Sun. It's the final spin of the wheel for the 1984 summer Olympic Games sweepstakes. New York and Los Angeles make their final presentations today In the fight to become the official US candidate to hostNYT; AP - 813 words
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Article, Illustration597 1977-09-26 9 Agencies LONDON, Sun. ManS tester United, who on onday will know If they can stay In the European Cup Winners Cup, drew 1-1 $way to Leeds United In the English First Division footWall championship yesterday. But the best part of theAgencies - 597 words
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Article, Illustration1091 1977-09-26 9 RICHARD BAERLEIN - By RICHARD BAERLEIN The Observer IN my schooldavs Blandford was the classic sire Extraordinaire. Although he did not win a classic himself, he sired four Derby winners In seven years: Tngo, Blenheim, Windsor tad and Bahram, three of Whom went onThe Observer - 1,091 words
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Article, Illustration473 1977-09-26 9 ERNEST FRIDA - By ERNEST FRIDA ASHOK Malik, the former Indian amateur champion and Douglas 001, salvaged some pride for Singapore by winning two of the eight singles on the final day of the annual International golf match against Malaysia at the Buklt Course yesterday.473 words
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990 1977-09-26 9 NYT IN the office of Gil Brandt, the director of player development for the Dallas Cowboys, there Is a scouting file on Leamon Hall, the quaterback at the United States military academy. That file states that Hall grades out above average In eachNYT - 990 words
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947 1977-09-26 9 HUGH McILVANNEY - By HUGH McILVANNEY UNTIL last week, the feeling at Lytham was that the Americans, as hosts for the next Ryder Cup match in 1979, should consider holding It at the Little Big Horn Country Club and Issuing the British captain with947 words
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Page 9 Advertisements
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Advertisement123 1977-09-26 9 Announcement The New Otani Group of Hotels, Tokyo are pleased to announce the appointment of Associated Tours (S) Pte Ltd as General Sales Agent, Singapore and Malaysia for •Hotel New Otani, Tokyo •The New Otani Hotel Garden, Los Angeles •Kaimana Beach Hotel, Waikiki Ofa/if Tokyo, Japan. Tel: (03)265-1111 Telex: HTLOTANI123 words
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715 1977-09-26 10 HOPE RESTS WITH INDUSTRIAL NATIONS AP WASHINGTON, Sun. World economic recovery from the recent recession might peter out unless leading Industrial nations gromote economic growth i the rest of the world, top Officials of the Inter.natlonal Monetary Fund -said last night. Indicated there Is unhapplnessAP - 715 words
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702 1977-09-26 10 AFP GENEVA, Sun. Switzerland is at present achieving what all other Western countries are considering as a remote dream economic growth without Inflation and unemployment. While economic recovery shows signs of slowing down In most other countries, Swiss government experts have had to carryAFP - 702 words
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Article227 1977-09-26 10 Reuter WASHINGTON, Sun. International Monetary Fund managing director Johannes Witteveen said last night that Britain has had an "astonishing success" with the economic programme it agreed with the IMF to back a US$3.9 billion (559.53 billion) loan it obtained from the fund last January. Mr. Witteveen saidReuter - 227 words
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415 1977-09-26 10 THE number of employee trade unions In Singapore appears to have adjusted over the last five years to an optimum figure of around 90. From 102 in 1970, the number of unions dropped j to 100 (1971), 97 (1972), 92 (1973), 90415 words
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Article27 1977-09-26 10 THE Development Bank of Singapore has announced an increase in its prime rate from 6 3/4 per cent to 7 per cent, effective today.27 words
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Article97 1977-09-26 10 MR. ONO Teng Cheong la to act as Minister for Culture In the absence of Mr. Jek Yuen Thong, who Is now Singapore's High Commissioner to the United Kingdom. Mr. Ong will continue to dlcharge his duties as Senior Minister of State for Communications. The Prime Minister97 words
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Article93 1977-09-26 10 AN $8 million pharmaceutical plant Is to be set up by Wleder Pharmaceuticals of Norway In Singapore. The plant will be Involved In specialised extraction operations, and the company has already reserved land in Jurong to build the factory once arrangements are finalised. The question of93 words
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Article99 1977-09-26 10 Reuter TOKYO, Sun. A senior Chinese leader has said Peking will strengthen Its trade ties with West European countries If Japan further prolongs conclusion of a Japan-China peace ana friendship treaty, Kyodo news agency reported here today. The warning came from Mr. Tan Chen-lin, vice chairman ofReuter - 99 words
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345 1977-09-26 10 Reuter BRIGHTON (England), Sun. Britain yesterday made a last minute appeal to the European Common Market to prevent any failure of the current Geneva negotiations on a new International sugar agreement. Foreign Office Minister of State Frank Judd said theReuter - 345 words
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324 1977-09-26 10 AFP OSAKA, sun. Japanese and US textile industry leaders have agreed to push for extension of the multifibre agreement (MFA) aimed at orderly expansion of trade in cotton, wool and chemical fibres, it was learned here yesterday. The four-year International agreement isAFP - 324 words
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301 1977-09-26 10 THE INSURANCE industry of Singapore has been urged to upgrade and Improve its professional standards in order to raise the quality of Insurance services. It must also keep pace with rapid developments in the Insurance business If Singapore is to succeed as a centre301 words
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Article360 1977-09-26 10 HAVING the correct environment for a computer is not a waste of money to be undertaken only by those who have excess funds to throw away. This is one of the most Important points made during the two-day seminar on environmental support for computers, organised by ACE Singapore360 words
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Article439 1977-09-26 10 UPI SYDNEY, Sun. Prime Minister Malcolm Fraser has indicated that Australia may take retaliatory action against Japan over Japanese car Imports if the sugar price row between the two countries Is not settled soon. Mr. Fraser held urgent talks with Japanese ambassador Yoshlo Okawara InUPI - 439 words
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Article291 1977-09-26 10 Reuter LONDON, Sun. A 66member world coffee body opens a meeting here tomorrow to try to break a stalemate between consumer and producer nations over International coffee prices. The International Coffee Organisation (ICO) council at Its 31st session will seek ways of reconciling European and United StatesReuter - 291 words
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Article577 1977-09-26 10 1 1 akrhals 2 U«l ttpmvhm Sumb+i T1m» fnm CPA CXiNW 0145 HKti f»AS SK0B7 <W40 CPHT14R'BKK MAS VI HAMS iwm KC11 cpa CX7J0 JtKXl MtP G(A CAMVO io3i> w;p THAI TG423 10:1.1 BKK SM S02M I04.*t MLP L>l A OAM4 KiM PKt GJA GAPWJ i 100577 words
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Advertisement89 1977-09-26 10 In days of yore, When Henry Four Was trying hard to keep Rebellion down, In London Town A tavern in Eastcheap Mad great renown: Mere did the Crown Prince Henry entertain. With clack and smack And lots of sack His sycophantic train. The Boar's Head Inn (A synonym For food89 words
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Advertisement61 1977-09-26 10 BBi The Toshiba Hi Door Bell Phone allows you to identify any visitor without opening the door. Just press a button to talk from wherever you may be. The Toshiba Door Bell Phone is j ideal for all family units. Economical e Simple connection Battery operated Rain Proof Door Unit61 words
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