The Business Times, 3 October 1977
1977-10-03
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10
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The Business Times
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Title Section10 1977-10-03 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, OCTOBER 3, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article72 1977-10-03 1 AP LONDON, Sun. Leaders of Britain's National Union of Journalists (NUJ), to which most of the country's Journalists belong, have rejected Svernment moves to limit pay hikes to one every months and Joined growing union opposition to pay curbs. They are the latest group to threaten theAP - 72 words
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Article67 1977-10-03 1 AP MOSCOW, Sun. The Soviet leadership Is opening a week of major policy meetings that are expected to proclaim a formal second-in-command to Soviet President Leonid Brezhnev. In nationally televised sessions, the leadership will also reveal the final text of the new Soviet constitution and possibly announceAP - 67 words
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Article70 1977-10-03 1 AFP HONGKONG, Sun. Five hundred trade buyers in 24 groups have so far confirmed that they will attend Hongkong's toy gift fair from Oct 10 to 12. Twelve of the groups are from Japan, four from the United States, two from England and one each from the Netherlands,AFP - 70 words
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Article70 1977-10-03 1 Reuter DACCA, Sun. The Bangladesh army today crushed a coup attempt staged by dissident soldiers during delicate negotiations for the release of hostages from the Japanese airliner hijacked four days ago. Eye-witnesses said at least six people died In the fighting, which spread to Dacca airport andReuter - 70 words
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Article94 1977-10-03 1 NYT WASHINGTON, Sun. President Carter has stated he plans to wait at least three months before naming a successor to Mr. Bert Lance as Director of the Office of Management and Budget. "I think It would be an Improper time for me to change the directorsNYT - 94 words
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Article61 1977-10-03 1 Reuter MANILA, Sun. Two prominent Filipinos, facing trial In connection with a conspiracy to kill President Marcos more than five years ago, have escaped from military detention and are reported to be in the United States, the President's press secretary said today. He Identified them as former ManilaReuter - 61 words
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Article60 1977-10-03 1 Reuter JAKARTA, Sun. The Indonesian Zinc Manufacturers Association (Gapsl) said the number of zinc factories In the country is sufficient to meet present and future domestic demand. After a Gapsl meeting, chairman Suhendra Notowljoyo told newsmen that total production of the 13 factories Is now 200,000 tonnes ofReuter - 60 words
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Article70 1977-10-03 1 Reuter GENEVA, Sun. The Big Three major military nuclear powers the United States, Russia and Britain resume talks here tomorrow In search of an agreement on banning all nuclear weapons tests. They are trying to break a 14-year deadlock on extending the existing nuclear test ban treatyReuter - 70 words
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Article62 1977-10-03 1 Reuter HONOKONQ, Sun. Many Chinese factories and mines have reported pre schedule fulfilment of their production plans for 1977, the New China News Agency reported today. In Klangsl province, 59 majors Industrial entergrises met this year's production quotas In late eptember with Increases from 40 to more thanReuter - 62 words
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Article116 1977-10-03 1 THE following list of stocks fives the 10 moat traded in on the Stock Exchange of Singapore last week. It givee the turnover in thouaands of unita, closing prices on Friday and the high and low for 1977. Coaptajr Turaon w Prion Hick Lot '000 Sept 94116 words
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LOCAL STOCK INDICES
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Article65 1977-10-03 1 Sept 26 8mnr 8«*28 Septa SeptM BT Index: 420 35 421.87 418.11 421.42 420.06 Industrials: 281.03 280.88 280.78 260.84 260.81 Finance: 430.42 430.51 430.23 431.58 431.84 Hotels 180.88 189.67 169.85 170.60 170.53 Properties: 184.04 183.81 183.14 164.00 163.69 Tins: 131.55 131.48 131.37 135.50 136.02 rubbers: 372.77 372.84 372.16 373.0465 words
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Article76 1977-10-03 1 Sept X Septr Sept28 Sept2» Se*36 BT Index: 400.30 407.51 463.14 466.26 464.65 Industrials: 287.31 287.47 287.23 287.30 287.11 f. Finance. 374.57 374.05 373.32 375.20 374.78 Hotels: 174.80 174.86 174.86 174.86 175.01 9 Properties: 149.00 149.31 149.16 149.77 149.16 Tlnsr 138.06 137.52 137.04 136.90 137.41 rubbers: 332.89 332.56 332.5176 words
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Article1218 1977-10-03 1 JOHN TAN - ULU PANDAN CONDOMINIUM By JOHN TAN THE housing loani which Development Bank of Singapore will be offering to Burchasers of units at the 1u Pandan condominium will lay claim to three "bests" in Singapore consumer financing. The DBS housing loans rates are the best1,218 words
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672 1977-10-03 1 Reuter WASHINGTON, Sun. Senior finance officials from the major industrial countries said exchange rate stability Is a primary aim of monetary authorities at this time. One senior official emphasised that In Informal talks here last week with his counterparts on the sidelines of theReuter - 672 words
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Article114 1977-10-03 1 SINGAPORE Airlines will start operating to the US from November next year, according to government and SLA officials who have Just returned from negotiations In Washington. SIA wIH initially fly three times weekly to San Francisco via Hongkong, Guam and Honolulu. The frequency will114 words
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Article205 1977-10-03 1 Reuter WASHINGTON, Sun. The British government Is reviewing Its exchange controls to determine whether changes need to be made In view of the rapid rise since the beginning of the year in the official reserves, Informed sources said here. The sources, attending the just ended IMF/WorldReuter - 205 words
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Article46 1977-10-03 1 UPI LONDON. Sun. Freddie Laker's new Skytrain London-New York air shuttle operated at a £1,000 a day loss during Its first week of operation, company spokesmen said today. Spokesmen said half of the 10 flights from Monday's maiden trip to Friday were profitable. UPI-UPI - 46 words
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308 1977-10-03 1 THERE were fewer retrenchments in Singapore laat year than in 1975 because of the improved economic situation. In 1978, the number of workers retrenched totalled only 3,588, which is a decrease of 63 per cent from the 1975 figure of 9,571. These figures308 words
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Article395 1977-10-03 1 SINGAPORE'S export growth this year has been nothing short of spectacular and much of the credit must go to the US market which has been particularly strong. The United States Is Singapore's largest export market buying 16 per cent of the Republic's total exports. But more395 words
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Article136 1977-10-03 1 MANAGEMENTS who consult trade unions on certain industrial matters even when not required to do so were singled out for praise by NTUC secretary general, Mr. C.V. Devan Nalr. In his report to the NTUC Delegates Conference to be held on Oct 12 and 13, Mr. Nalr said:136 words
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Page 1 Advertisements
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Advertisement57 1977-10-03 1 Ricoh J for plain paper copying *****33 Wywy Private Limited ...a responsible company 39th Floor Hong Leong Building Singapore I. Ltiiure/ Crossword*/ TV Radio P 2 Leisure P 3 Features P 4 International Co News/ Overseas News P 5 Local Co. News P Overseas Markets P 7 Commodities P 857 words
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Advertisement113 1977-10-03 1 International trade? ACBC makes it easier. ACBC provides all the services required for successful trading on the international scene. From opening letters of credit, to export financing, to foreign exchange. Making it easier with a simple direct service. Not only to take care of the routine but indispensable day-to-day banking113 words
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Advertisement419 1977-10-03 1 NOW Coal healthy poltutton tree r IS POSSiBLE 'z&y' COOL. /MAS TEFI WREAK V* CAR AM CONOmONCB AIR PUHFB* &s?> M c 3? CHUNG SHAN MOTORS 5-11 GOLDHIL Tel *****2 240 LAVENDER STREE r Tel *****80 w =fci y 4i f^_ THE EARTH IS FLAT, AND ii' 7T*rK€uT=:•:: TELLS YOU419 words
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Article781 1977-10-03 2 CONSUMER price hikes here as everywhere else can be turned Into major emotional Issues, especially when the hikes Involve food costs. The proposed Increase In prices for soft drinks has been postponed Indefinitely, thanks to Intervention fromsthe National Trades Union Congress. But the NTUC's burly entry Into781 words
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REVIEWS
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Article, Illustration839 1977-10-03 2 JOHN LEONARD - U.S. PRESIDENTIAL CAMPAIGN BOOKS By JOHN LEONARD NYT American Journal: The events of 1976. By Elizabeth Drew. 561 pages. Random House. U5512.95. TOWARDS the end of .her long, calm, careful and intelligent account of last year's presidential camjpalgn, Elizabeth Drew Is clearly fed up.NYT - 839 words
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Article750 1977-10-03 2 CHRISTOPHER LEHMANNHAUPT - By CHRISTOPHER LEHMANNHAUPT NYT Stuttering: The disorder of many theories. By Gerald Jonas. 67 pages. Farrar, Straus and Giroux, Hardcover, U557.95; paperback, $2.95. ACCORDING to "Stuttering," as many as 75 muscles may be called to play during the production of a simple "Mama." And, of course,NYT - 750 words
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625 1977-10-03 2 CKT - By CKT GOODNESS knows a conductor could be thinking of starting a subscription o National Geographic while conducting the orchestra In the molto vivace movement of Beethoven's Ninth Symphony. Perhaps not such far-off business, but how do conductors view the works they conduct? Any625 words
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1114 1977-10-03 2 RHYS DAVID - Far from being barbarians, it now seems that the Vikings were a civilising influence on the local British population. Indeed, some remarkable new finds indicate that even Eric Bloodaxe was a nice man. RHYS DAVID reports. RHYS DAVID FT MANCHESTER: A new viewFT - 1,114 words
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Page 2 Advertisements
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Advertisement54 1977-10-03 2 If business you wish to transact With diplomacy, reason and tact, Fosters is the venue For a fine interview Over dinner, a drink or a snack. FOSTERS ORIGINAL LONDON RESTAURANT 25A. Amber Mansions.Orchard Road, Singapore 9. Tel: *****6/*****9. Fosters Smokehouse Hotel, Cameron Highlands Fosters Serve Guaranteed New Zeeland Prime Beef54 words
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Page 2 Miscellaneous
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Miscellaneous235 1977-10-03 2 SINGAPORE 5 3.00 PM Opeaiag k> «alar Pini flinJ —Repeat) 3.30 Diary of Events (Tamil) 3.35 Afternoon Matinee Young Wives' Tale (Part 1) starring: Joan Greenwood, Nigel Patrick, Audrey Hepburn 4.20 Intermission 6.05 Opening followed by Inquiry Improving Genes 6.30 News ii Brief 6.35 A Vmzia 7.05 Tit MhnMy Carton235 words
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Miscellaneous51 1977-10-03 2 THE WEATHER WEATHER report for 24 hour* prior to 7.30 pm on Oct 2 at Singapore airport. Maximum Temperature 29.0° C Associated Humidity 76 Minimum Temperature 23.4° Associated Humidity 98 Hour* of Sunshine 0.70 Rainfall in Millimetres 10.6 Total Rainfall for the Month 11.0 Total Rainy Days for the Month51 words
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Miscellaneous517 1977-10-03 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS I Coloured ball (5) 6 Kept out of bed (3.2) 9 Fodder plant, of course, for racehorses (7) 10 Prays for a little water (5) 11 Do work that will hold the attention (5) 12 American statesman (5) 13 Looks hard to wear! (7) 15517 words
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Article, Illustration1556 1977-10-03 3 PAUL LEWIS - By PAUL LEWIS GENEVA: The moment of truth Is fast approaching for the Industrial nations of the world In their efforts to forge a reduction In International trade barriers. In the last few weeks, spurred by President Carter's chief trade negotiator, Robert Strauss, participants in1,556 words
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Article, Illustration919 1977-10-03 3 MORT ROSENBLUM - By MORT ROSENBLUM AP EPERNAY, (France): Vintners in France's champagne region are ready to undertake worldwide campaigns to inform wine lovers that if sparkling wine they drink is not from the area's chaulkv hills, then it is not the real thing. Particularly upsetting toAP - 919 words
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Article438 1977-10-03 3 AP MODENA, (Italy): Italian wineries, eyeing an expanding market In the United States, are starting to adapt their production to meet American tastes. After a wet and cold summer in northern Italy, producers are now optimistic that 1977 will be a good, perhaps great, yearAP - 438 words
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Page 3 Advertisements
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Advertisement658 1977-10-03 3 Single-handed, Chubb protects all 48 floors of the CPF building from fire and theft Single-handed, Chubb is providing total fire and theft protection for all 48 floors of the CPF building. Here's how Chubb does it and a hint of what Chubb can do for you. Chubb prevents loss through658 words
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2525 1977-10-03 4 DERMOT GLYNN - SEARCH FOR GEARING ADJUSTMENT By DERMOT GLYNN FT COMPANY ACCOUNTS prepared on the present accountancy conventions are seriously misleading because of inflation. The main reasons are that these "historic cost" conventions do not count as a cost the money needed to replace at to-day's pricesFT - 2,525 words
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857 1977-10-03 4 MIKIO OSAWA - JAPANESE COMPUTERS By MIKIO OSAWA FT TOKYO: The senior manager of Nippon Electric, one of Japan's top manufacturers of computers and semiconductors, complains: "It is so difficult to sell to western Europe." It is also, as almost all Japanese computer menFT - 857 words
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995 1977-10-03 4 JACK GEE - Every year France almost conies to a standstill for the whole month of August as the French down tools and go on their summer holiday. This year, for the first time, the Government has managed to persuade the motor vehicle industry to giveFT - 995 words
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Article, Illustration763 1977-10-03 4 ARTHUR SPIEGELMAN - By ARTHUR SPIEGELMAN Reuter NEW YORK, Sun. Fear is stalking America's wealthiest street, a short block between Fifth and Sixth Avenues where diamonds and not dollars are the currency and a handshake seals a deal rather than a batch of legal documents. TheReuter - 763 words
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Page 4 Advertisements
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Advertisement72 1977-10-03 4 MITSUBISHI HIGH SPEED DIESEL ENGINES DEPENDABLE, DURABLE ECONOMICAL €MM t^l m m tm 5 3 3 1 SI2NTK SI6NTK S6NTK »for generating sets for marine propulsion units, ABS classed 250 to 1500 HP full technical spares and service back-up m Please contact: Manufactured by k MITSUBISHI HEAVY INDUSTRIES. LTD. of72 words
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INTERNATIONAL COMPANY NEWS
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348 1977-10-03 5 Reuter NEW YORK, Sun. Foreign currency translations are likely to continue to have a big effect on earnings of Exxon Corp in the third quarter of 1977, chairman Clifton Oarvln told analysts. However, Mr. Oarvln declined to estimate the outcome of the third quarter, orReuter - 348 words
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121 1977-10-03 5 Reuter LOS ANGELES, Sun. Carter Hawley Hale Stores Inc said it agreed to sell Its 20.5 per cent interest in House of Fraser to Lonrho of London for US$76 million. The company said House of Fraser has expressed support of the sale. The companyReuter - 121 words
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212 1977-10-03 5 Reuter TOKYO, Sun. Chori Co, said it will complete its financial rehabilitation over the next three years with financial assistance from banks and synthetic fibre mills. It said four major banks Dallchl Kangyo Bank, Fuji Bank, Sanwa Bank and Mitsui Trust and BankReuter - 212 words
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266 1977-10-03 5 WOLFSBURO, Sun. Volkswagen said It plans to recruit 3,000 more workers by mld-1978 due to the continuing high demand at home and abroad for VW and Audi models. The VW parent company workforce at end-August rose by 3,530 to 100,952, while VW worldwide group266 words
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311 1977-10-03 5 Reuter MELBOURNE, Sun. The Part "A" statement for the proposed Joint Howard Smlth/Conzlnc Riotlnto of Australia (CRA) bid for Coal and Allied Industries (CAI) will be expensively delayed because CRA will now need to provide new accounts, a CRA spokesman said here. He saidReuter - 311 words
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Article136 1977-10-03 5 Reuter MELBOURNE. Sun Marv Kathleen Uranium said It has been advised by Its two major shareholders, Conzlnc Riotlnto of Australia and the Commowealth Government, that additional longterm finance up to AS2O million is available. This would be provided In the proportion of their shareholding, 50 per cent forReuter - 136 words
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104 1977-10-03 5 Reuter TOKYO, Sun. Fourteen Japanese companies plan to issue industrial bonds worth 128.5 billion yen in October, compared with eight firms and 81.0 billion In September, the Underwriters Association said. Industrial bond floatation plans are expected to increase to 20 companies and 205.5Reuter - 104 words
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Article80 1977-10-03 5 Reuter LONDON, Sun. Stockjobbers Smith Brothers and Blsgood Bishop and Co said they agreed merger terms of five Smith ordinary for each Blsgood ordinary, valuing each Blsgood share at 275p and the whole company at £2.75 million. Blsgood directors and other shareholders have already acceptedReuter - 80 words
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Article74 1977-10-03 5 Reuter MELBOURNE, Sun. The 72.10 million Asl par shares In Australia and New Zealand Banking Group will be listed on a deferred delivery basis on Monday, the Melbourne Stock Exchange said. ANZ Group Holdings was delisted from the close of trading on Friday. AsReuter - 74 words
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348 1977-10-03 5 BURBANK, (California), Sun. Lockheed Aircraft Corp yesterday held Its first shareholders meeting since 1974 and outgoing chairman Robert Haack won a standing ovation after promising that 1977 earnings would be "eminently satisfactory." Mr. Haack, who has guided the giant aerospace firm through 20 turbulent348 words
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Article151 1977-10-03 5 AFP TOKYO, Sun. C. Itoh and Co and Ataka and Co, both major trading companies based in Osaka, formally merged on Saturday to become the nation's third biggest trading company after Mitsubishi Corporation and Mitsui and Co. The firm, which retains the name ofAFP - 151 words
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Article53 1977-10-03 5 Reuter MELBOURNE. Sun. North Broken Hill Holdings reported it now holds 7.49 million BH South shares, equal to 13.5 per cent of the 55.55 million 50-cent par BH South shares on issue. North Broken Hill reported three weeks ago that it then held 7.11 million shares or 12.8Reuter - 53 words
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OVERSEAS
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Article175 1977-10-03 5 AP WASHINGTON, Sun. President Carter's Administration Is taking a new look on whether to limit steel Imports Into the US, the President's special trade representative said on Friday. "The Carter Administration is not ruling out anything," said Mr. Robert Strauss. "We're looking at theAP - 175 words
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Article82 1977-10-03 5 Reuter ABU DHABI. Sun. Gulf economics ministers, meeting In Baghdad next week, will discuss a proposal to establish a common market of seven Arab states, the official United Arab Emirates news agency Warn said. Iraq presented the proposal to ministers from Bahrain, Kuwait, Oman, Qatar, Saudi ArabiaReuter - 82 words
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138 1977-10-03 5 AFP TOKYO, Sun. A West German business delegation has voiced strong dissatisfaction here over Japan's distribution network, describing it as a non-tariff trade barrier. The delegation voiced the complaint at a two-day joint nfeeting of the Japan Committee for Economic Development (Keizai Doyukai)AFP - 138 words
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Article127 1977-10-03 5 UPI MONTREAL, Sun. Mr. Lee Kuan Yew began his official visit to Canada and the United States yesterday. He was met at Mirabel airport by Canada's Chief of Protocol Mr. J.R. Barker and escorted to a mountain resort hotel. Mr. Lee's first official function hereUPI - 127 words
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Article167 1977-10-03 5 Reuter CHICAGO, Sun. First National Bank of Chicago said a decision to reduce its overall exposure In Taiwan and possibly pull out of the country when current loans mature, was in no way mandated or suggested by China. Executive vice-president William McDonough said: "OurReuter - 167 words
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1334 1977-10-03 5 GEORGE SHORT - By GEORGE SHORT WASHINGTON: In order to save the world from a grim period of lagging industry and higher unemployment, life for the peoples of some Industrial nations may be made a little better in the coming months. The reason is that the1,334 words
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Page 5 Advertisements
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Advertisement469 1977-10-03 5 i> M li W* :6 m I \bur mother does not like to be interrupted when she's busy. It's too bad your big computer has such a busy schedule. But that's the way your mother was meant to work. That steady job stream has been very carefully planned out to469 words
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COMPANY NEWS
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Article727 1977-10-03 6 BROKERS and market observers are generally optimistic that the Singapore stock market Is due for a rally in the not-too-distant future. In recent weeks, they variously point out, most of the leading market Indicators have been holding up pretty well at their support levels.727 words
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Article534 1977-10-03 6 Current Ex Date Total for Total for payment Date payable the year previous year Yeo Hiap Seng (M) 10%I(d) Sept 5 Oct 3 10%1 10%(e) BCBU 8%I Sept 5 Oct 3 8%(I) 22% Ayer Hitam Tin 208.3%(I) Sept 6 Oct 3 41«.7%(I) 141.5% Seacorp 15%I Sept 2 Oct534 words
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373 1977-10-03 6 JAPANESE electrical consumer goods manufacturers in Malaysia have cause to be cheerful about their performances this year. Higher sales combined with various cost savings measures adopted by these companies helped widen both profit margins and levels, allowing them to continue the growth of373 words
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COMPANY MEETINGS
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Article24 1977-10-03 6 THE following company meetings are due: Oct 3at11.30a.m at the Regent VII room. 2nd floor, Regent Hotel, Jalan Imbl, Kuala Lumpur.24 words
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Article21 1977-10-03 6 Oct 4 at 12.90 p.m. at the Registered Office, Jalan 219, off Federal Highway, Petallng Jaya, Selangor.21 words
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Article20 1977-10-03 6 Oct. 10 at 12.00 p.m. at the Registered Office, 13.7 km Buklt Tlmah Road, Singapore.20 words
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Article23 1977-10-03 6 Oct. .17 at 11.00 a.m. at the Registered Office, 12th floor, Fltzpatrlck's Building, 86 Jalan Raja Chulan, Kuala Lumpur.23 words
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Article20 1977-10-03 6 Oct 26 at 3.00 p.m. at the Registered Office, No. 50 Jalan Ampang, Kuala Lumpur.20 words
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Article2543 1977-10-03 6 IWlf77 High Lew CMVUX La* Sate WMk •farGr's Div Di* Cvr Gr's Y*W Net P/K Week Vol CBOO) WMk High Low SECTION ONE INDUSTRIALS 154 204 116 238 88* IN* 169 224 414 171 135 172 58 212 57' 155 152 182 350 145 Acma2,543 words
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Page 6 Advertisements
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Advertisement178 1977-10-03 6 Confront Singapore's "N. J 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 like178 words
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INTERNATIONAL STOCK MARKETS
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Article492 1977-10-03 7 TOKYO: Share prices closed higher in active trading on Saturday, dealers said. The market average rose 18.84 to cloee at 5,281.22 with volume 300 million shares. The Tokyo Stock Exchange Index closed at 380.74, up 0.28. Petroleums, fats and oil, feedstuffs were generally higher reflecting the rise in the492 words
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Article282 1977-10-03 7 AMSTERDAM: The market closed on Friday generally firmer with Royal Dutch gaining 1.50 guilders, Akao and Philips edging higher, Unilever unchanged and Hooffoven* losing 0.50 guilders In Dutch Internationals. Elsewhere Half firmed 1.50 guilders on the first day of trading since its quote was suspended on Sept 22. Other282 words
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Article177 1977-10-03 7 BRUSSELS: Belgian shares were mostly higher In more active trading on Friday following Wall Street r s firmer tone, market sources said. Sidro, Unerg, Cockorill, Sohray and CBR were among shares to gain, while VioiUo Montagne, Hobokon, and Comotra all lost ground. UK and US shares firmed, while German,177 words
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Article161 1977-10-03 7 MILAN: The market closed selectively higher In quiet trading on Friday, dealers said. Assicurasioni Generali was among leading stocks to gain after optimistic forecasts for 1977. Snia Viscosa recovered Thursday's loss on reports of higher first half 1977 cash sales. Both Pirelli, Fiat and Montedison rained while both Qlivetti,161 words
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Article237 1977-10-03 7 ZURICH: The market continued narrowly mixed In moderately active trading on Friday, dealers said. Leading banks closed steady. Bearer shares of OerlikonBuehrle and Bally featured In otherwise little change financial. Among Insurances Zuerich-Verti-Cherung was again higher on selective demand. Industrials fluctuated narrowly In quiet dealings. Dollar stocks and Dutch237 words
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Article270 1977-10-03 7 FRANKFURT: Shares closed mixed to barely maintained In nervous trading after a firmer •tart on Friday, bourse sources said. Deutsche bank rose 2.50 marks and In autos Daimler gained 1.50 but VW fell 1.20 marks. Mauwaau eaaed one mark while In stores KaufW fell marks and In electrical* BBC270 words
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Article371 1977-10-03 7 JOHANNESBURG: Gold shares firmed on Friday, reflecting overseas Interest on securities rand considerations, dealers said. Heavyweight golds were generally up to SO cents higher while gains elsewhere were between five and 20 cents. Financial mlnlngs were quiet and little changed. De Been traded unchanged at 498 cents. Other metals371 words
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Article277 1977-10-03 7 TORONTO: The market closed sharply higher on Friday In the busiest session since Jan 27. 1975. Closing volume totalled 4,738,200 shares against 4,569,282 on Thursday. The composite Index was up more than four points and losses led gains 248 to 171. All but one of the 14 sub-groups rose277 words
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Article304 1977-10-03 7 PARIS: Squaring operations brought the market down on Friday after its recent advances, with banks, foods and constructions the weakest sectors, dealers said. Oils and electricals were easier, stores and chemicals mixed. Piribu added two francs to 174 after announcing a free share issue. Foreign stocks followed Wall Street304 words
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Article1016 1977-10-03 7 NEW YORK: The stock market bouyed by some good news reports, closed out the week on a higher note in active trading on Friday on the New York Stock Exchange. The most impressive development. according to Wall Street analysts, was Thursday's government report of a 0.8 per cent1,016 words
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Article61 1977-10-03 7 FINANCIAL TIMES INDUSTRIALS Friday 520.7 Thursday 515.4 Week Ago 504.7 DOW JONES AVERAGE INDUSTRIALS Friday 847.11 Thursday 840.OS Week Ago 839.14 LONDON DOLLAR PREMIUM Friday 88* to 89 Thursday 88* to 89 H.K. HANG SENG Friday 417.00 Thursday 416.43 Week Ago 418.17 SYDNEY INDUSTRIALS Friday 3M.20 Thursday 3«fl80 Week61 words
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Article1322 1977-10-03 7 On Sept 30 TRADING In options on the Chicago Board Options Ex2^&™n&£&y 0n Frtday com P ared with 93,080 OPTIONS OCT JAN APL STOCK Alcoa 40 NOL UNTRD 45 Alcoa 45 1 2 1/8 2 7/8 45 Alcoa SO UNTRD 3/8 1 45 Alcoa 00 UNTRD UNTRD1,322 words
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Article474 1977-10-03 7 NYT THE New York stock market, drawing encouragement from signs that tne economy is Improving, rose moderately last week In accelerated trading. For the week, the Dow Jones Industrial average was up 7.07 points to 847.11. However, on Wednesday the blue-chip barometer closed at 834.72, ItsNYT - 474 words
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Article384 1977-10-03 7 Reuter SHARE prices declined on the Sydney stock market last week and the Indices continued to fall with metals and mining dropping to 1983.65, the lowest level this year. BHP set the mood for the week when It crashed 14 cents on Tuesday and another twoReuter - 384 words
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Article250 1977-10-03 7 AFP THE Tokyo Stock Exchange scored a steep gain to finish last week on a strong: upbeat, shrugging off Tosses taken by issues that went ex-divldend and ex-rlght earl lei in the week. The Dow indicator recovered the 5,200 yen mark in a fresh wave of buying,AFP - 250 words
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Page 7 Advertisements
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Advertisement424 1977-10-03 7 BUSINESS TIMES Airline Directory 110-112 Shew Centre, Orchard Rood, Singapore 9 (Tel: 377.111) M).| 1. J »1 n—- u A V| ilWtf PaWM lAlau CIAAAAAM fit dIWIIIVn vnVHBVffV (Tel: *****00) Wivlinv, iw #nwnion "wj Singapore 1 (Tel: *****11) «<-' H lllf w, »l 1 ■vm rwfr, wiv whwhi# •fiwwn ■y#424 words
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COMMODITY REPORTS AND PRICES
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Article292 1977-10-03 8 LONDON, Sun. Terminal rubber softened under reasonably heavy afternocn selling to close easier with losses from Thursday of mostly 0.60 to 0.15 pence per kilo dealers, said on Friday. Market sources said indications that recent overseas support buying had temporarily dried up was a possible factor in292 words
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Article37 1977-10-03 8 Sept 26 Sept 27 Sept 28 Sept 29 Sept 30 Tin Tonne Rubber (S) $1,710 295 218.25 $1,725 258 219.00 $1,721 165 217.25 $1,736 140 215.75 $1,770 200 214.50 ♦cents per kilo per picul37 words
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Article230 1977-10-03 8 THE Straits Tin price In Penang on Saturday was down $9.00 to $1,761.00 on an official offering down 10 tonnes to 190 tonnes. In LONDON on Friday, tin on the day rose by £47 for cash and £67 for Three Months standard while high grade was up £40230 words
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Article204 1977-10-03 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY. Coconut Oil: Bulk $80 sellers, old drum $85 sellers, new drum $90 sellers. Copra: Mixed (loose) UK/Cont. $49 buyers. Pepper: Muntok ASTA white f.o.b. 100% NLW $427 sellers. Sarawak white f o b. 96% NLW $4074 sellers,204 words
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Article60 1977-10-03 8 C.I.F. Rotterdam prices quoted In London on Friday In US dollars per ton Friday Prvrlona Malaysia 5H ffa bulk Nov Sumatra 5% (fa Sept Oct Nov December January 490 sir unch 477Hslr 499 sir 490 sir 442*pd 438 sir 929 sir 470 sir 440 pd 437 90 pd60 words
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Article279 1977-10-03 8 LONDON, Sun. Copper wlrebars on the day softened by £0.50 per tonne all round on Friday. The market lacked fresh feature, but held steady as light liquidation and profittaking Induced by steady sterling was matched by preweekend covering. Three Months traded around £708 per tonne during modest ring and279 words
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Article43 1977-10-03 8 LONDON, Sun. Lead on the day lost mostly £2 per tonne on Friday. The lower levels found some shortcovering support which lifted Three Months up to £346 by the end of the kerb. Ring sales of 7700 tonnes were nearly all carries.43 words
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Article32 1977-10-03 8 LONDON, Sun. Zinc finished mostly £0.75 lower on Friday. Small liquidation and subsequently some short selling pushed Three Months down to £293 on the late kerb. Sales were only 800 tonnes.32 words
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Article346 1977-10-03 8 BANGKOK, Sun. The market was very quiet during the last week in line with government policy to control rice exports to ensure sufficient stocks for domestic consumption, trade sources said. Activity was confined to loading against old commitments and no new business was concluded either on a government or346 words
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Article187 1977-10-03 8 LONDON, Sun. Terminal coffee closed the morning quiet on Friday, with September off £90 with losses in other months ranging from £5 to £65. Volume totalled 1,634 lots. In NEW YORK on Friday, coffee futures fluctuated uncertainly for much of the session but turned decisively lower under preweekend evenlng-up187 words
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Article344 1977-10-03 8 RETAIL prices per tael quoted by the Singapore Chinese Gold and Silver Merchants Association are $400 for 00 per cent cold, MOO for 22k gold and $520 for 24k gold. In LONDON on Friday Oold closed firm In range of U*****.20/154.60 an ounce agalnstsls2.7o/153.10 on Thursday. Dealers said continued344 words
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Article148 1977-10-03 8 LONDON, Sun. Spot silver closed around 266/267 pence an ounce on Friday up on Thursday's closing range of 263.90/264.90. Three Months was similarly firmer around 270/271 against 268/269. Dealers said the pronounced dollar weakness and the consequent rise in gold encouraged interest in sliver as well. Late trading, however,148 words
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Article154 1977-10-03 8 LONDON, Sun. Prices ended the morning £3.10 to £1.15 up on sales of 6,205 lots on Friday. The London Dally Raws price was up £4 on tone at £102 and the Whites prices was raised £3 to 102 per tonne. In NEW YORK on Friday, world sugar futures marked154 words
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Article193 1977-10-03 8 LONDON, Sun. Terminal cocoa closed mixed at £74.50 up to £15 lower on Friday after near Dec had rained considerable technical supgort following the expli7 of pot Sep at' mid afternoon. Spot Sep closed out £131 higher at a new contract high of £3,390 and showing the highest ever193 words
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Article111 1977-10-03 8 CHICAGO, Sun. After an initial advance faltered, soybean futures came under pressure on Friday, losing their early gains and eventually closing at the day's lows with losses of 93/4 to seven cents a bushel. The early advance of about 10 cents a bushel was the result of local and111 words
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Article56 1977-10-03 8 CHICAGO, Sun. Wheat futures held small gains through the session to close 1-1/2 to 3/4 cent a bushel higher on Friday. Early firmness in soybean and corn futures, which aided speculative buying interest and commercial buying brought an early firming but the market eased from Its highs on the56 words
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759 1977-10-03 8 AS the fifl-member International Coffee Organisation council met In London to determine a fair price for coffee, the commodity came under selling pressure in a generally quiet Singapore produce market last week. Trading In the commodity here, however, remained minimal as759 words
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MONEY AND EXCHANGES
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Article170 1977-10-03 8 Source: O.C.B.C. FOLLOWING the announcement that US recorded a $2.67 billion deficit, the US dollar was not much affected when the Dollar/Mark was quoted at $2.3225/35 compared to the opening level of $2.3285/95 for the week, thus displaying a slightly firm undertone for the US unit. But this firmnessSource: O.C.B.C. - 170 words
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Article59 1977-10-03 8 ACBC 19 ....7 First Chicago Algemene Bank 6*. Citibank 7 Bangkok Bank ....7 hsbc |V. Bank of America 6S Indosuez «v, Bank of China ....7 Malayan Banking Bank of Tokyo 6i. Mitsui Bank ...m Bank Nefara OCBC ...M Indonesia ....7 OUB 7 Chartered Bank 6*. UCB 759 words
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Article223 1977-10-03 8 Asian rates THE market appeared very sluggish ahead of the monthly book squaring. Money figures released showed Ml falling SI billion and M 2 down $0.9 billion. This had little effect on rates, which remained basically unchanged. ABIAN currency average deposits rates for the week ended Sept 30. US» (Bid223 words
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Article271 1977-10-03 8 THE money market saw a gradual easing towards the close of last week due to Open Market Operations and the recycling of funds back to the system. There was a significant drop In one month money with a softness in other rates. The market however remained highly nervous throughout271 words
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Article74 1977-10-03 8 An easing trend was felt last week In the local money market. By Wednesday O/N funds were traded at 1/8 per cent at the close. Some panicky readons were seen the following day resulting In the term rates dropping 1/2 per cent from 5 4 7/8 to 474 words
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Article647 1977-10-03 8 ZURICH, Sun. As the Swiss franc continued Its sharp upward movement at the beginning of the week, the Swiss National Bank banned completely (as from Sept 27) sales of forward Swiss francs to nonresidents with a maturity of less than one month, while longer contracts as hitherto must not647 words
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Article240 1977-10-03 8 NEW YORK, Sun. The dollar recouped some of Its opening losses against major currencies In fairly active trading, dealers said on Friday. The market pushed currency rates up against the dollar In early business In continuing nervousness about US trade and payments deficits this year and next. However,240 words
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Article40 1977-10-03 8 FOR the week ended Friday Sept 30 the range of can rates received from Short Deposits (M) Berhad was as follows: BANK FUND 2*% to 4*% GENERAL FUNDS 2v,% to 4H. Movements of funds totalled 5533 million.40 words
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Article270 1977-10-03 8 LONDON, Sun. The dollar remained depressed and mainly offered all day after opening sharply lower against leading currencies, dealers said on Friday. US Treasury secretary Michael Blumenthal's prediction of a massive deficit on current and trade accounts for this year and next weakened the dollar especially against the mark,270 words
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Article155 1977-10-03 8 Euro rates LONDON, Sun. The Eurodollar deposit market was quiet reflecting weekend and month end Influences, dealers said on Friday. Friday end of period made for a gain In one month rate of 5/16 to 6-7/8 seven while the four and five month rates eased by around 1/16 each on155 words
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Article42 1977-10-03 8 Frankfurt exchanges doling quota* on Sept 30 US 2.3060/80 Can 2 1530/90 UK 4 027/033 Meth S3.K/MO2 Bwltl M 70/30 Italy 2 905/615 France 47 .13/23 Japan 0 8765/75 Belf coin 6 45/46 Be If fin 6.46/47 Norw 41 35/42 OS42 words
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Page 8 Advertisements
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Advertisement113 1977-10-03 8 You ore cordially invited tovisit The Metal Finishing Exhibition Organized by: Hong Kong Productivity Centre Date: 9th 14th November, 1977 Location: South Side Concourse, Kowloon Railway Station, Hung Horn, Kowloon. Features: More than 60 leading firms from U.S.A., Japan, Germany, U.K., Australia and Hong Kong will participate in this exhibition.113 words
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Article, Illustration1001 1977-10-03 9 ARTHUR ASHE - ARTHUR ASHE won the first United States Open Tennis Championship in 1968, the Australian Open in 1970 and' Wimbledon in 1975. He has been involved for years in movements to achieve racial equality in South African sports. ARTHUR ASHE NYT LASTNYT - 1,001 words
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Article, Illustration321 1977-10-03 9 |■> 3 J v: m i ,m AP WATKINS GLEN, NEW YORK, Sun. James Hunt retained the pole position for today's US Grand Prix, thanks to a chilling, steady rain yesterday which prevented anyone from bettering his qualifying speed from the previousAP - 321 words
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397 1977-10-03 9 UPI LONDON, Sun. Manchester United scored two goals in seven minutes yesterday to send the European and England soccer league champions, Liverpool slithering to their first defeat of the season. The 2-0 setback cost Liverpool it's share of the English first division leadership withUPI - 397 words
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337 1977-10-03 9 AP NAPA. CALIFORNIA Sun. George Archer, unrattled by a three-putt bogey on the first hole, came back with 10 birdies and tied the course record with a 63 yesterday which gave him a four-stroke lead after three rounds of Napa's $200,000dollar proAP - 337 words
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157 1977-10-03 9 Reuter SAN ANTONIO, TEXAS, Sun. Six contestants ■cored perfect marks and one was injured in a spill yesterday during the horseback riding competition in the opening day of the 1977 World Pentathlon championships at Fort Sam Houston here. Two Australians, Robert Barrie and RobertReuter - 157 words
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743 1977-10-03 9 NYT LOS ANGELES. Sun. Los Angeles, which was selected over New York City last Sunday as the United States choice in bidding for the 1984 summer Olympic Games, began preparing for its victory more than eight years ago. And it wonNYT - 743 words
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912 1977-10-03 9 E. FRIDA - By E. FRIDA WOODEN spoonlst Jurong Country Club scored a sensational 12-stroke win over Keppel Oolf Club In the Singapore Oolf Association Premier League competition at Jurong yesterday. JCC, who have lost seven of their 12 league matches, took full advantage of playing912 words
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Advertisement210 1977-10-03 9 Let's Talk About Accounts Receivable Loan and Factoring We are pleased to announce that Heller, in adding more flexibility to its existing factoring service, is now providing also Accounts Receivable Financing. This means that there are now 2 ways Heller can increase the flow of cash intoj your business through210 words
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Advertisement152 1977-10-03 9 Your Invitation To Visit 'A M W i United States Hotel Restaurant Equipment Catalog Show october 3-5 1977 11:00 am-6:00 pm The following ore the Product Categories for the catalogs and brochures to be exhibited. Many of the manufacturers in this group are seeking agents, representatives, or distributors in Singapore:152 words
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300 1977-10-03 10 Reuter BANGKOK, Sun. Thailand and Japan have both expressed hopes that they can get their bilateral trade out of its regular rut a big surplus for Japan and enable Thailand to sell more to Japan. They agreed on broad alms, but foundReuter - 300 words
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90 1977-10-03 10 Reuter MEMPHIS, Sun. Representatives from 12 Asian nations Including Singapore will visit US cotton producing states later this month to discuss prospects for Increasing the share of US cotton in overseas textile markets, a spokesman for the National Cotton Council (NCC) said. The 27Reuter - 90 words
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Article, Illustration768 1977-10-03 10 SMALL banks can survive and succeed In Singapore In spite of the Intense competition from the banking giants. This Is the view of Mr. Michael Ng Eng Choon, who was earlier this year elected to the board of the Far Eastern Bank768 words
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684 1977-10-03 10 THE latest statistics unveiled by the National Trades Union Congress show a slow but constant climb In Its representation of an estimated 500,000 bargalnable and unlonisable workers In Singapore. The NTUC's organisation committee states in the secretary general's report, which will be tabled684 words
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Article585 1977-10-03 10 i ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKO SAS SK097 0640 CPH/THR/BKK MAS MH682 0810 KCH CPA CX710 1000 HLP OIA GA980 1030 HLP THAI TG423 1035 BKK SIA SQ2U 1045 HLP GIA GA944 1055 PKU OIA GA908 1100 MES PAL PR501 1115585 words
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Article210 1977-10-03 10 NYT WASHINGTON, Sun. Nineteen Latin American nations have agreed to establish a new bank, with US$99 million (Ssl4s million) of authorised capital, to finance exports from that area, a Panamanian official disclosed on Friday. Called the Latin American Export Bank, it will be located in PanamaNYT - 210 words
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193 1977-10-03 10 Reuter Sun. The yen should be allowed to appreelate if its rise reflects the country's payments position and despite opposition rrom some domestic industries, official Japanese sources said. The irritation at Japan's trade surplus shown at last week's IMF meeting in Washington hadReuter - 193 words
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Article427 1977-10-03 10 AFP LONDON, Sun. Faced with record prices and an apparent acute shortage, of nearby supplies, the International Tin Council (ITC) will, no doubt, be taking urgent stock of the situation during Its week-long meeting In Hamburg, which opens tomorrow. Producers will be urged byAFP - 427 words
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145 1977-10-03 10 AFP KUALA LUMPUR, Sun. Hie Ministry of Trade and Industry has so far approved 1,253 applications for manufacturing licences under the Industrial Coordination Act, a ministry spokesman said today. Another 636 appliestions are being processed by the Federal Industrial Development Authority (FIDA). TheAFP - 145 words
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Article99 1977-10-03 10 Reuter MANILA, Sun. Philippine Trade Secretary Troadlo Quiazon Jr. today called on rubber producers In Asean to keep up technical Improvements in their products to offset the stiff competition posed by plastics and other snythetlc Items. He also urged them to maintain a close watch overReuter - 99 words
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400 1977-10-03 10 AFP GENEVA, Sun. The UN conference on sugar has made progress, thanks especially to Cuban concessions on two thorny questions, Informed sources here said. On the problem of special arrangements, Cuba agreed yesterday to restrict its exports to the eastern European ComeconAFP - 400 words
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Article234 1977-10-03 10 A FIVE-MAN team will represent Singapore at the Heads of Commonwealth Valuation Departments' Conference which will be held In Kuala Lumpur from Oct 10 to 15. The team will be led by Mr. Ng Tee Geok, chief valuer of the property tax division, who will234 words
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Article123 1977-10-03 10 NEW YORK, Sun. The International Business Machine Corporation (IBM) has "Informally" told the New Delhi government It plans to cease operations in India in six months' time, the New York Times reported yesterday, citing official Indian sources. But regional director for IBM-India. Mr. T.B. Finn, had also123 words
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123 1977-10-03 10 HONGKONG, Sun. A Hongkong commodity exchange spokesman declined to comment on a press report that trading in sugar futures will start here on Nov 15, but added an official announcement will probably be made late next week. The report In the Chinese language123 words
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Article47 1977-10-03 10 Reuter WASHINGTON, Sun. The Joint annual meeting of the World Bank and International Monetary Fund In 1979 will be held In Belgrade. The announcement was made by the Joint procedures committee for the two organisations as the 1977 annual session drew to a close. ReuterReuter - 47 words
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Advertisement187 1977-10-03 10 Get the benefits of a computer without renting or purchasing one IB*- 3 W m i i t You could be at the stage where your business needs the benefits of a computerised solution while you are not yet ready for an in-house computer of your own. Let IBM Data187 words
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