The Business Times, 31 October 1977
1977-10-31
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The Business Times
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Title Section9 1977-10-31 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, OCTOBER 31, 1977 50CENTS9 words
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NEWS IN BRIEF
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Article83 1977-10-31 1 Reuter MANILA, Sun. President Marcos, who has ruled the Philippines by martial law for the past five years, affirmed today that he would hold elections to a new, largely-elected legislative body by April or May next year. He was speaking at the close of a one-and-half-dayReuter - 83 words
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Article51 1977-10-31 1 THE hijacked Air Vietnam aircraft which landed In Seletar Air Base on Saturday left Singapore for home yesterday. On board were 34 persons, including the aircraft crew. A passenger was allowed to remain behind until he finds another place to go to. The four hijackers have been51 words
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Article68 1977-10-31 1 MOSCOW, Sun. A Soviet commentator today accused China of shopping for arms from Nato countries and warned that increased Chinese military potential would be a threat to all countries, not just the Soviet Union. Writing in the Communist Party daily Pravda, commentator Mikhail Georgiev said Peking was68 words
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Article72 1977-10-31 1 DACCA, Sun. The Bangladesh Tea Research Institute has announced the development and successful testing of a high-yielding variety of tea which produces nearly ten times as much as the normal variety marketed for the past century. The second crop this year produced 526 kg per hectare72 words
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Article51 1977-10-31 1 Reuter MADRAS, Sun. Two people were killed here today when police fired on a violent crowd of 10,000 waiting to demonstrate against former Prime Minister Mrs Indira Gandhi. Earlier, baton-wielding police fought a pitched battle with the crowd and fired teargas in an attempt to disperse the gathering.Reuter - 51 words
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Article65 1977-10-31 1 Reuter JAKARTA, Sun. A US$l45 million (Ss34B million) polyester plant with an annual capacity of 28,000 tonnes was opened by President Suharto yesterday in Tangerang on the outskirts of Jakarta. The new plant, a Japanese investment owned by P.T. Tifico, will boost Indonesia's polyester fibre production toReuter - 65 words
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Article68 1977-10-31 1 Reuter LONDON, Sun. Britain's nuclear submarine Dreadnought has been held up at the entrance to the Suez Canal by Egyptian authorities objecting to its passing through the waterway, the Defence Ministry said today. The Dreadnought has been at the northern end of the Canal since Thursday whenReuter - 68 words
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Article65 1977-10-31 1 UPI LONDON, Sun. A wave of executions is sweeping China in Chairman Hua Kuo-feng's purge of supporters of Mao Tse-tung's widow, and the total "must be well into the thousands" this year, the Sunday Telegraph said today. The dispatch by the newspaper's Peking correspondent said scores ofUPI - 65 words
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Article59 1977-10-31 1 AP TEHERAN, Sun. Two persons were killed and 11 injured in an explosion and fire at a large oil refinery in Abadan in western Iran, the state-owned Pars News Agency reported today. The Abadan refinery has a daily production of 600,000 barrels of oil. A spokesman forAP - 59 words
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Article114 1977-10-31 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 Price* High Low 000 Oct 28 1977114 words
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LOCAL STOCK INDICES
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Article74 1977-10-31 1 Oct 24 Oct 25 Oct 2S Oct 27 Oct 28 B.T. Index: 409 46 408 45 412.90 415.84 418.30 Industrials: 259 08 259.19 259.60 259.60 260.07 Finance: 417.68 416.25 415.40 416.73 419.01 Hotels: 170.82 170.96 170.89 171.39 171.46 Properties: 160.23 159.18 150.49 160.85 161.24 Tins: 145.17 146.98 146.75 146.9474 words
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Article81 1977-10-31 1 Oct 24 Oct 25 Oct 26 Oct 27 Oct 28 B.T. Index: 487.14 487.41 508.56 505.36 509.49 Industrials: 283 34 283.93 284.05 285.18 285.98 <3 Finance: 301.30 300.21 360.52 364.37 365.21 Hotels: 176.90 177.01 177.05 177.09 177.51 Properties: 147.09 147.45 147.20 148.61 149.11 Tins: 146.55 149.76 149.46 149.33 148.8781 words
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Article1111 1977-10-31 1 TERESA LIM - SHIPBUILDING MEET NEXT MONTH Br TERESA LIM SINGAPORE will send an official team to what is described as an important shipbuilding conference organised by the Japanese Government In Tokyo next month. The conference, which will stretch from Nov 21 to 25, will allow shipbuilding experts from1,111 words
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Article134 1977-10-31 1 Reuter JAKARTA, Sun. An economic meeting here has named three approaches It believes could promote economic cooperation in the Asean region a lowering of tariff barriers, greater economic self-reliance and a reduction in Income differences between the Asean countries. The three-day second conference of theReuter - 134 words
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Article172 1977-10-31 1 AP TOKYO. Sub. The Organisation for Economic Cooperation and Development's shipbuilding working party will hold s threeday conference here from Nov. 7 to informed sources said over the weekend. Fourteen major shipbuilding countries including Japan and the European Economic Community (EEC) Commission are to be represented at theAP - 172 words
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594 1977-10-31 1 A GREATER movement of personnel between the government, statutory bodies, and the private sector will come about In time, according to Finance Minister, Mr. Hon Sul Sen, when he declared open the A AMO-6 International Management Conference last night. The civil service has always been594 words
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259 1977-10-31 1 UPI WABHINOTON, Sun. The exhaustion of vital natural resources may soon outrank military aggression as the greatest national security threat facing mankind, a World Watch Institute study said yesterday. 'Dwindling reserves of oil and the deterioration of the earth's biological systems now threaten theUPI - 259 words
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307 1977-10-31 1 NEGOTIATIONS with Singapore buaineitmen are normally protracted affaire, •aid the leader of a visitinf British trade mission, but it oaly reflects that the businessmen here are hardheaded and know what they are for, which is good for the Singapore economy. Mr.307 words
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503 1977-10-31 1 JOHN LIM - Pacorient to play the middleman in Asian mart By JOHN LIM A FIRM has been set up In Singapore to direct borrowers to the Asian dollar market here. The primary target of Pacorient Multinational, set up in February, Is Australia where Interest rates are high. According to its managing consultant,503 words
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Article90 1977-10-31 1 Reuter BRUSSELS, Sun. The Common Market has decided to carve a large slice off its "butter mountain" and sell It off cheap at Christmas time in all European Economic Community (EEC) countries except Britain. The EEC Commission said it had authorised the sale of 72,000Reuter - 90 words
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Page 1 Advertisements
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Advertisement44 1977-10-31 1 r Ricoh j for plain paper copying *****33 |UJ tfywy Private Limited ...a responsible company 39th Floor Hong Leong Building Singapore 1. Loisure/ Oomwords Leisured TV Radio Foaturoo International Co. N«w«/ Ovtrmi New« Local Co. N«wi Overaoaa MarkoU Commodittao Sports Local and Overaoaa New44 words
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Advertisement144 1977-10-31 1 NOW Cool healthy pollution driving is POSSIBLE „,„mARUEnu COOL, aaasteri CAR AIB CONQmONEB PUREACE AIR PUHFB* I©J CHUNG SHAN MOTORS 5-11 GOLDHILL PLAZA Tel *****2 240 LAVENDER STREET Tel *****80 comprises Bsonwstw 901 AM-FM receiver 100 watts max. output, Beogram 1100 Record Ptayer, 2 Baovox S3O speakers. BEOCORDIIOI cassette deck144 words
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REVIEWS
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1433 1977-10-31 2 PETER DAVIS - RE-RECORDING BY JUILLIARD AND VEGH QUARTETS By PETER DAVIS NYT NEW YORK: About 25 years ago, back In the early days of the long-playing record, the Juilliard String Quartet released their pioneering performances of the complete quartets by Schoenberg and Bartok on the ColumbiaNYT - 1,433 words
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Article480 1977-10-31 2 FINANCE Minister Hon Sui Sen was probably a little unfair in suggesting that the topics of discussion for the AA MO management conference did not go far enough to emphasise the close connection between politics and economics, between Government and business. Even if the speakers do not480 words
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Article1149 1977-10-31 2 JOHN RUSSELL - By JOHN RUSSELL NYT NEW YORK: By now It is common knowledge that "Cezanne: The Late Works" at the Museum of Modern Art Is one of the most remarkable manifestations that has ever been devoted to a single artist. It has competition, of course. InNYT - 1,149 words
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Article542 1977-10-31 2 NYT NEW YORK: A confidential report by the president of Lincoln Centre to Its board of directors discloses that It costs almost twice as much to operate the nonprofit Vivian Beaumont Theatre as It does to run a comparable commercial Broadway house. As a result, theNYT - 542 words
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797 1977-10-31 3 ALINE MOSBY - By ALINE MOSBY NYT MOSCOW: Yuri V. Trifonov Is a Soviet writer. He Is not a dissident. His stories are trenchant commentaries on some of the seamy aspects of Soviet city life and the pervasive fear caused by Stalin's terror. He Is widelyNYT - 797 words
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Article, Illustration1929 1977-10-31 3 RASMUS RASMUSSON - By RASMUS RASMUSSON MONDAY WHAT makes a human being tick? The first Is wanting to achieve something, searching and occasionally succeeding. The second is Interaction with others family, colleagues, new acquaintances. The third Is having plain fun. All these three things go together. They overlap. So, how1,929 words
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Article, Illustration725 1977-10-31 3 MEL GUSSOW - tBOOKS 1 By MEL GUSSOW NYT Dear Me. By Peter Ustinov, 374 pages, illustrated. Atlantic-Little, Brown. U5t9.95. PETER Ustinov Is ah actor, playwright, director, novelist and artist, but the primary talent of this voluminous man may be what he characterises as his gift forNYT - 725 words
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Article833 1977-10-31 3 PARIS: And now sex and the baggy layered look. That Is the main message of the Paris spring-summer ready-to-wear shows staged during the past two weeks by more than 1,000 fashion houses In private rooms and at the Porte de Versailles exhibition hall to833 words
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Page 2 Advertisements
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Advertisement319 1977-10-31 2 Sow boat I > ST* W i Far East Publications 1913, Hanglung Centre, Paterson Street, Causeway Bay, Hong Kong. CHINA TRADE QUARTERLY BT 'Please enter my full subscription to China Trad* Quarterly. lam enclosing a cheque/money order for US$2OO.OO or equivalent in other currencies. .of China Trad* Quarterly Price includes319 words
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Page 2 Miscellaneous
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Miscellaneous52 1977-10-31 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 pm on Oct 30 at Singapore airport. Maximum Temperature 31.6° C Associated Humidity 65 Minimum Temperature 23.7° C Associated Humidity 99 Hours of Sunshine 5.0 Rainfall in Millimetres Nil Total Rainfall for the Month 49.6 Total Rainy Days for the52 words
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Miscellaneous9 1977-10-31 2 HOu> P>o£ "M» W Tt4£, MM| SUV&ZKi BosiNess? BE!p|js9 words
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Miscellaneous414 1977-10-31 2 TWO-IN-ONE CROSSWORD Kimr CRYPTIC PUZZLE ACROSS DOWN 1 Appeals that gratify, we hear (5) 6 Olrl I call for (5) 9 Reptile In class (7) 10 It's slow to circumnavigate the Pole (5) 11 A hill to ride on (5) 12 Killed with bent nails (5) 13 Some horrible traps414 words
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Page 3 Advertisements
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Advertisement314 1977-10-31 3 Are you having problems getting on your big computer? ißri §m£ :< 8 ft"' flfe There's only so much room on even the biggest computers. And once your company's computer has a full load, there's no way you're going to get your applications on it until somebody else gets off.314 words
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Page 3 Miscellaneous
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Miscellaneous279 1977-10-31 3 SINGAPORE 3.00 PM Opening announcements followed by Valar Pirai (TamilRepeat) 0 3.30 Diary Of Events (Tamil) 3.35 Afternoon Matinee Saraband For Dead Lovers (Pt. 1) Starring: Stewart Granger, Joan Greenwood 4.25 Intermission 6.00 Opening announcements followed by Inquiry Give Him A Chance 6.30 News in Brief* 6.35 Marine Boy 7.05279 words
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1087 1977-10-31 4 DAVID CONRAD - -DRESDNER BRANCH SET UP HERE IN 1972 "The difference between us and American banks/' says a senior German banker in Hongkong, "is that whereas they go out and break into new markets we tend to follow our customers." In South-east Asia, this approach seemsFT - 1,087 words
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634 1977-10-31 4 HARI HARTOJO - By HARI HARTOJO UPI JAKARTA: The coconut palm, graceful symbol of the Indonesian archipelago and sustenance to millions of Its villagers, has fallen on hard times. Decades of neglect, a population explosion, plagues of voracious insects and changes In the world market andUPI - 634 words
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Article, Illustration756 1977-10-31 4 BRUCE RUSSELL - By BRUCE RUSSELL Reuter RAROTONOA, (Cook Islands): Following the routes of Invading armies In World War Two, tourists are peacefully swarming over the picturesque islands of the Pacific Ocean. Islands and atolls once so remote they barely received a monthly visit from a steamerReuter - 756 words
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1090 1977-10-31 4 GROG SMOSARSKI - Twice Finland went to war with Russia in Hitler days and was mauled. Today a new nuclear power station which symbolises how the two neighbours have let bygones be bygones and learned to live together. GROG SMOSARSKI reports from Helsinki. GROG SMOSARSKI FINLAND'S first1,090 words
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Page 4 Advertisements
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Advertisement504 1977-10-31 4 HOW TO SURVIVE N THE SLUMP Business Management in Penguins The Debt Trap: Cheryl Payer LjJ The International Monetary Fund is the most power- I ful supra-national government in the world today. This book is about the efforts of poor nations to 9 gain some control over their own economies504 words
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INTERNATIONAL COMPANY NEWS
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492 1977-10-31 5 NYT CAIRO, Sun. The Ford Motor Co on Saturday signed an agreement with Egypt for a US$3O million Joint-production venture In a move viewed here as aimed partly at getting Ford removed from the Arab boycott of companies that have traded with Israel. TheNYT - 492 words
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Article139 1977-10-31 5 Reuter DALLAS (Texas). Sun LTV Corporation said on Friday it lost US$l9.9 million in the third quarter, compared with the $7.1 million profit It earned In the same period of 1976. The firm, a major defense contractor, said the loss, which amounted to $1.40 a share comparedReuter - 139 words
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98 1977-10-31 5 Reuter LONDON, Sun. British Industry has laid off nearly 40,000 workers as a result of the strike by 3,000 employees at Industrial gas suppliers, BOC Internattatlonal, a BOC spokesman said. The number of lay-offs will rise and more shutdowns will occur If theReuter - 98 words
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Article75 1977-10-31 5 Reuter WASHINGTON, Sun. Pemex, the Mexican state oil company, plans capital outlays of about US$l5 billion by 1982 on oil and gas development and a build-up of refining capacity. The figures were disclosed In an amended registration statement filed with the Securities and Exchange CommissionReuter - 75 words
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362 1977-10-31 5 Reuter LONDON Sun. Consolidated Gold Fields Ltd expects the UK and US to provide the base for the group's expansion for some years, chairman Lord Erroll said. He told a press conference the company's policy of lessening its dependence on revenues from goldReuter - 362 words
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Article193 1977-10-31 5 Reuter TOKYO, Sun. Nippon Electric Co Ltd (NEC) said It expects profit for the year ending March 31 to rise 13 per cent to 8.5 billion yen from 7.54 billion yen the previous year, on sales of 550 billion (485.92 billion). The company saidReuter - 193 words
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Article100 1977-10-31 5 TOKYO, Sun. Konishiroku Photo Industry Co said It will issue 12 million shares of common stock in the form of European Depositary Receipts (EDR) with payment to be completed by Nov 25. One EDR represents 1,000 common shares (50 yen per share), It said. The Issue price of100 words
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Article49 1977-10-31 5 Reuter RENTON (Washington), Sun. Boeing Co said It received five orders from three airlines for Its 737-200 twin Jets. Boeing said CP Air ordered two for delivery In June. 1979, Sobelalr one for delivery In July, 1978 and Gulf Air two for delivery next summer. Reuter.Reuter - 49 words
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92 1977-10-31 5 BASLE, Sun. Ciba-Geigy AG said its subsidiary CibaGeigy (Japan) Ltd, Takeda Chemical Industries and the Government of Japan agreed the terms of a court settlement that will terminate the first group of law suits relating to the nervous disease "smon". The settlement acknowledges92 words
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Article81 1977-10-31 5 Reuter SEOUL. Sun. Korea Exchange Bank (KEB) said It plans to set up at least five overseas representative offices this year and two branches next year. The five representative offices will start operations In Seattle, Houston, Caracas, Kuwait, Nairobi and possibly In Stockholm thisReuter - 81 words
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Article71 1977-10-31 5 Reuter OTTAWA. Sun. Inco Ltd will be asked to delay its planned layoffs of more than 3,000 workers for three to six months, Mr. Douglas Frith, chairman of the Sudbury Regional Council, said at a meeting here with representatives of labour, Inco and politicians. "WeReuter - 71 words
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218 1977-10-31 5 UPI PHILADELPHIA, Sun. Sun Co, the oil company based In Radnor. Pennsylvania, says it made over half a million dollars in questionable payments between 1971 and 1976 In Its foreign operations. The company said It regarded the payments as questionable at the moment, but notUPI - 218 words
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148 1977-10-31 5 Reuter NEW YORK, Sun. Kennecott Copper Corp said it will continue to report unsatisfactory results If copper prices continue at current levels. The company reported a third-quarter loss of 66 cents a share compared with a year ago profit of 15 cents aReuter - 148 words
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Article122 1977-10-31 5 Reuter HONGKONG, Sun. Underwriting arrangements for the cash alternative In Hutchison Whampoa's proposed Issue of 402.7 million HKSI nominal cumulative redeemable participating preference shares 1982/ 1992 have been made. Wardley and Schroeders and Chartered said as financial advisers to Hutchison International Ltd and Hongkong and Whampoa Dock CoReuter - 122 words
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OVERSEAS
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Article148 1977-10-31 5 Reuter NEW YORK. Sun. US imports of crude oil will decline to 41 per cent of demand in 1978 from 45 per cent in 1977 due to Alaskan North Slope production, Continental Oil Co executive vice president C.R. Turvey told a conference board meetingReuter - 148 words
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635 1977-10-31 5 Reuter PARIS, Sun. Some borrowers may be able to get more attractive terms for their syndicated Eurocredits although a general fall In spreads Is unlikely, the Organisation for Economic Cooperation and Development said. In its Financial Market Trends publication, It said this mightReuter - 635 words
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Article568 1977-10-31 5 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKG SAS SK097 0640 CPH/THR/BKK MAS MH682 0810 KCH CPA CX710 1000 HLP GIA GA980 1030 HLP THAI TG423 1035 BKK SIA SQ211 1045 HLP GIA GA944 1055 PKU GIA GA908 1100 MES PAL PR501 1115 MNL568 words
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253 1977-10-31 5 Reuter PARIS, Sun. International capital market activity, particularly In Eurobonds and syndicated credits, continued to advance strongly in the third quarter this year, the Organisation for Economic Cooperation and Development said. In Its financial market trends publication, It said this happened despiteReuter - 253 words
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113 1977-10-31 5 Reuter DUSSELDORF, Sun. German companies' readiness to Invest has picked up since the early autumn, Westdeutsche Landesbank Girozentrale said in a report. 'It bases this conclusion on the results of questionnaires and on order activity in a number of Important industrial sectors. The riseReuter - 113 words
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Page 5 Advertisements
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Advertisement239 1977-10-31 5 no need to call Paris in order to know all about INTERNATIONAL EXHIBITIONS i t. m fm FRANCE/1978 Merely call the PROMOSALONS office in Singapore (address in or send the coupon below to find out: the exhibition which will be most useful to you, e who is exhibiting and what239 words
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COMPANY NEWS
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761 1977-10-31 6 KUALA SIDIM RUBBER Is seeking to quadruple its Issued capital with a three-for-one scrip Issue. In a circular to shareholders, the chairman, Mr. O.S. Macdonald, says the consolidated balance sheet shows total shareholders funds at M 536.65 million which works out to $6.00 per share.761 words
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Article55 1977-10-31 6 UNITED Overseas Bank has announced that as at the end of the third quarter of 1977, 14.28 per cent of Its Issued capital, Including the 7.06 million shares to be issued upon the full conversion of Its 8.5 per cent convertible bonds 1988 Is beneficially owned55 words
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Article344 1977-10-31 6 Current Ex Date Total for Total for payment Date payable the year previous year Harper Gilfillan 5%I Oct 12 Oct 31 5% 15% M. Flour 10% Oct 5 Oct 31 10% 10%TP Temenggong 4%I Oct 3 Oct 31 4%I 8% Gentings 5%I Aug 31 Oct 31 5%I 6V«%(a)344 words
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193 1977-10-31 6 THE Stock Exchange of Singapore has requested Singapore Finance to explain why the award received from the Government on the acquisition of a freehold and a leasehold property owned by the com--1 pany was not promptly disclosed. In Its annual report, for193 words
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COMPANY MEETINGS
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Article27 1977-10-31 6 THE following company meetings are due: Oct 31 at 11.00 a.m. at the Registered Office, 16 Jalan Tanesl. Kuala t..«. jPur 10-01.27 words
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Article22 1977-10-31 6 Oct 31 at 10.00 a.m. at the Registered Office, 9th floor, Manhattan House, Chin Swee Road. Singapore 3.22 words
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Article19 1977-10-31 6 Oct 31 at 11.30 a.m. at the Registered Office, 16, Jalan Tangsl, Kuala Lumpur 10-01.19 words
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Article17 1977-10-31 6 Nov 4 at 11.30 a.m. at the OCBC Centre (19th Jloor), Chulla Street, Singapore.17 words
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Article18 1977-10-31 6 Nov 4 atll.oo a.m. at 4th floor, Mac Donald House, Orchard Road, Singapore 9.18 words
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29 1977-10-31 6 Electrical Allied Industries Bhd: Nov 9 at 11.30 a.m. at the Board Room (3rd floor) of the Malaysian Industrial Development Finance Bhd. at No. 117, Jalan Ampang, Kuala Lumpur.29 words
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Article20 1977-10-31 6 Nov 9 at 11.30 a.m. at the Registered Office. 12th floor, Ocean Building, Collyer Quay, Singapore.20 words
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Article13 1977-10-31 6 Nov 9 at noon at 50 Jalan Ampang, Kuala Lumpur.13 words
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Article18 1977-10-31 6 Nov 16 at noon at the Regent of Kuala Lumpur Hotel, Jalan Imbl, Kuala Lumpur.18 words
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Article72 1977-10-31 6 Reuter LONDON, Sun. Norsk Hydro plans to offer US$5O million notes due 1982 in the Eurobond market with a coupon expected to be 7H per cent, market sources said. The issue will be underwritten by an international banking syndicate managed by Hambros Bank, Swiss Bank CorpReuter - 72 words
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Article2573 1977-10-31 6 Last Week Gr Div Div Gr Y'ld Net P/E Week Vol Week High Low Company Sale +OT- Crr COM) High Low 8ECTION ONE INDUSTRIALS 154 134 Acma 135 -1 12.ON 1.8 8.8 6.3 13 135 134 204 165 Alcom 165 -5 10.0 0.5 6.0 20.62,573 words
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Page 6 Advertisements
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Advertisement175 1977-10-31 6 Confront Singapore's decision makers in Business limes Business.Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who For only $3.50 per single column centimetre will175 words
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INTERNATIONAL STOCK MARKETS
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Article476 1977-10-31 7 TOKYO: Share prices fell on liquidation* In the absence of encouraging factors on Saturday, dealers said. The Dow Jones average fell 28.38 to close at 5,041.00 with volume 120 million shares. The New Index closed at 374.00 down 2.13. Export-oriented electrlcals, vehicles and precision Instruments lost sharply In early476 words
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Article298 1977-10-31 7 AMSTERDAM: The market eased In quiet conditions on Friday Dutch Internationals all feu led by Hoogovena which closed 0.00 guilders down after announcing further short-time working, dealers said. Elsewhere most banks, trading and industrial stocks fell. Ocagrint, Nurdto, Pmkhoed and NMB rose against the trend. Insurances and shippings were298 words
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Article173 1977-10-31 7 BRUSSELS: Shares were mixed, with a majority lower In quiet trading on Friday, market sources said. Among shares to rise were Asturienne, Wagons-Lits, and Finoutremer, while Reserve, Electrobel, FN, Clabecq and TabacoAna all fell. Vlellle Montagne, which said it is Certain to make a heavy loss this year, lost173 words
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Article138 1977-10-31 7 MILAN: Stocks closed generally firm on reduced offers at the day highs but In quiet trading on Friday, dealers said. However, Olivetti Privileged softened and Oliwtti Ordinary was unchanged among otherwise firmer Industrials. Insurances and flnanclals also gained. Bonds were actively steady. OCT 28 Lire Anlc 170.75 +0.75 Assoc138 words
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Article292 1977-10-31 7 FRANKFURT: The market on Friday was firmer on balance with Individual gains rather than sector trends providing the key note, dealers said. Manneamann, Siemena and BMW all extended Thursday's advances while VW and Mercedea Holding were both 1.30 marks stronger. Stores lost ground and banks were steady to firmer.292 words
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Article374 1977-10-31 7 PARIS: The market recovered from early lows to trade mixed with a slightly easier bias on Friday, dealers said. The added the 0.0 per cent rise In September retail prices came as little surprise and said they are expecting some ministerial action to slow Inflation. Banks, foods, constructions and374 words
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Article335 1977-10-31 7 ZURICH: The market closed Irregularly higher In moderately active trading on Friday, dealers said. The main Interest centred on Oerlikon-Buehrle. Its bearer and registered shares managed to recoup a good part of their coupon cession. The rights were traded at 185, 100,185-mines for the bearer rights and at 47,335 words
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Article294 1977-10-31 7 TORONTO: Share prices closed higher In active trading on Friday. Strength In the financial services, transportation and oil and gas sub-groups pushed the composite Index up four points. Advances outpaced declines 234 to 153. Pacific Pete added H to 33% and Jannock A put on to 11. Both have294 words
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Article1234 1977-10-31 7 TRADING on the Chicago Board Options Exchange came to 75,455 contracts on Friday compared with 129,343 contracts on Thursday. OPTION JAN APL JLY 8TOCK Alcoa 40 41/2 51/8 UNTRD 441/4 Alcoa 45 13/8 21/4 2 3/4 441/4 Alcoa SO 1/4 7/8 NOL 441/4 Alcoa1,234 words
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Article410 1977-10-31 7 JOHANNESBURG: Gold shares moved off earlier high levels In quiet dealings on Friday ahead of the weekend, with fairly heavy continental selling evident ahead of the European long weekend, dealers said. Gains nevertheless ranged to 180 cents amongst heavier priced shares. Financial minings shadowed producers and Anglos fell back410 words
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Article926 1977-10-31 7 NEW YORK: The stock market rode out some earlier weakness and posted Its third straight gain In moderate trading on Friday. But the advance was somewhat tempered by fresh evidence that the pace of economic growth will probably slow more In the days ahead. The government said at926 words
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Article63 1977-10-31 7 FINANCIAL TIMES INDUSTRIALS Friday 509.3 Thursday 511.6 Week Ago 524.8 DOW JONES AVERAGE INDUSTRIALS Friday 822.88 Thursday 818.61 Week Ago .808.30 LONDON DOLLAR PREMIUM Friday 85* to 95H Thursday 94 to 94 v, H.K. HANG SENG Friday 415.51 Thursday 414.64 Week Ago Closed SYDNEY INDUSTRIALS Friday 389 03 Thursday63 words
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Article514 1977-10-31 7 THE battered New York stock market, buoyed by the belief that Interest rates have peaked and that share prices were poised for a technical rebound, posted a moderate advance last week In accelerated trading. After sinking to a twoyear closing low of 802.32 on Monday, the514 words
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Article368 1977-10-31 7 Reuter WITH the amount of discussion on a federal election increasing over the past four months. the announcement of a poll on Dec 10 came as no surprise to the Sydney stock market last week. No share price movements were attributed to the news andReuter - 368 words
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Article280 1977-10-31 7 TOKYO share prices fell for the fourth straight week In light trading last week amid growing concern over the yen's unabated appreciation. The Dow-Jones average was carried to a three-month low. The Dow Indicator of 225 selected stocks which fell 163.90 yen during the previous three weeks,280 words
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Page 7 Advertisements
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Advertisement462 1977-10-31 7 For complete banking services, call: CaMyat Qway Bank a# Amnca CMHar4 CmM 24 RaHtaa Mac. Am C«i—«M Bankinf Cwf* M 104/10* lihmM IM4 Aaiata PniWi-lwli AG Q»w<m Uima Skipping Centra, Iwliiti Tnn* C« 504/500 Ocaan luiMini CaOyat Qway nTßuui tinman Way ?T«f"j2o*7.\ll) (Ta»: 910.211) 21at Flaar, CMM Centra Bank CoiwMrct462 words
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COMMODITY REPORTS AND PRICES
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Article277 1977-10-31 8 LONDON, Sun. Terminal rubber finished with gains of 0.17 to 0.50 pence per kilo on Friday. The official tone at the close was uncertain. Afternoon conditions were very dull with most of the activity accounted for by a 50 lot self trade In the Apl/ Jne position.277 words
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Article205 1977-10-31 8 THE Straits tin price in Penang on Saturday was down $30.00 to $1,850 on an official offering down 23 tonnes to 185 tonnes. In LONDON on Friday, tin on the day fell by £10 for Cash and £27 for three months standard while high grade was up £50205 words
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Article272 1977-10-31 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk $80 sellers, old drum MS sellers, new drum $00 sellers Copra Mixed (loose) UK/Cont. »52 buyers. Pepper Muntok ASTA white f.o.b. 100% NLW 1430 sellers. Sarawak white fob NLW S4lO sellers, Sarawak special black f.o.b.272 words
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Article67 1977-10-31 8 C I F N European ports prices quoted In London on Friday in US dollars per ton. Friday Previous Malaysia 5% ffa bulk Dec unch 425 sir Sumatra 5% ffa Oct unch 495 sir Nov 447.50 pd 450 sir December 427 sir 427.50 sir January 425 sir 42567 words
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Article342 1977-10-31 8 LONDON, Sun. Copper wlrebars finished the day showing losses of £7 per tonne for Cash and £7.50 for Three Months on Friday. The market lost further ground during the afternoon under continued long liquidation prompted by the performance at New York, dealers said, with Three Months trading down to342 words
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Article247 1977-10-31 8 LONDON Sun. Coffee prices opened higher in an irregular market, on Friday, moving from £57 to £28 hleher. By mid-morning, values had moved to a range of £50 to £84 higher. Turnover totalled 724 tots. In NEW YORK on Friday, coffee futures closed the session locked up the four247 words
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Article208 1977-10-31 8 LONDON, Sun. Futures closed £27 higher to £22 lower on sales of 2,805 lots on Friday. Market sources said values found no follow through Interest from this mornlne's advance and prices fell back under local selling and long liquidation. In the morning the market had displayed a steadier trend208 words
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Article564 1977-10-31 8 THE kllobar market In Singapore opened at $12,484 and closed at the same level after reaching a high of 112,503. In the London market, the metal opened at USS 160.80/ 161.10 and closed at the same level. Source: Singmas.. Retail prices per tael 2uoted by the Singapore hlnese Gold564 words
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Article90 1977-10-31 8 LONDON. Sun. Spot and three month bullion sliver closed around 270.50/271.50 and 274/275 pence per ounce on Friday, little changed from the fix at 270.90 and 274.50 and only marginally up on Thursday's close. The market was quiet all day, dealers said. In NEW YORK on Friday, Comex sliver90 words
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Article95 1977-10-31 8 LONDON, Sun. Lead on the day rose by £2.50 for Cash and £1.75 for three months on Friday. The market continued to work higher during the afternoon on further trade buying and influential borrowing. Three Months finished the ring at £358.50 per tonne but reached £361 on the late95 words
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Article87 1977-10-31 8 LONDON, Sun. Zinc closed with gains of £2 all round on Friday. This metal was also buoyant during the afternoon following the steadier trend In morning ring trading. Trade buying and Influential borrowing were the main props on a market expecting a further substantial decline in warehouse stocks which87 words
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Article413 1977-10-31 8 BANGKOK, Sun. The feature of the rice market during the last week was the Interest shown by Indonesia for the purchase of 270,000 tonnes of Thai rice. Trade sources, said the Director-General of the Foreign Trade Department, Chumphol Thammacharl had returned from Jakarta where discussions were held with Indonesian413 words
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706 1977-10-31 8 THE general lack of firm foreign demand made for another dull trading period at the Singapore produce market last week. For the best part of the week, dea'ers were either noncommltal or asking for unreallstlcally higher prices. As the week, wore on the706 words
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Article197 1977-10-31 8 LONDON, Sun. Futures closed £0.90 up to £0.80 down on sales or 2,744 lots. Dealers said the market moved irregularly during the afternoon with long liquidation absorbed on any dip by trade buying and local book squaring. In the morning the market had opened with gains of mostly £1197 words
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Article142 1977-10-31 8 CHICAGO. Sun. Wheat futures closed cent a bushel higher to K cent lower after giving up early gains of around four cents a bushel. The market firmed on local and professional buying, deriving some support from talk of Chinese Interest In the world wheat market, and the advance extended142 words
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Article85 1977-10-31 8 CHICAGO, Sun. Soybean futures crept upward In light early dealings to show gains of 5V4 to three cents a bushel on Friday. Local buying firmed prices when little selling materialized at the opening. Sellers continued to show caution as farmer selling continued to be lleht. However, buyers also remained85 words
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MONEY AND EXCHANGES
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Article215 1977-10-31 8 THE US unit opened firm at the $2.4100/ 10 level In the Singapore forex market last week after some US banks led by Citibank raised prime rates to 7% per cent. However, continued apprehension over the US trade deficit saw the US unit being depressed down to $2.4045/215 words
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Article39 1977-10-31 8 ACBC 7 7 Bangkok Bank HSR< 7 Bank of America 7 1ndosuez 7 Bank of China Maltvin Banking 7 y Bank Nefara OCBC «>. OUB 7 UCB 7 Chate Manhattan 7 I'MBC 7 DBS 7 IOB 739 words
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Article268 1977-10-31 8 Asian rates RATES were very steady throughout the last week with moderate Interest in three and six months. Overnight federal funds were traded around the 6 9/16 levels. US money supply dropped $1.1 billion (Ml) and $1 billion (M 2) with business loans in New York Increasing $386 million. ASIAN268 words
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Article316 1977-10-31 8 THE Interbank market saw erratic movements In the overnight rates which shot up to 7 per cent on Tuesday only to fall back to 4 per cent, a level at which It generally hovered for the next few days. The end of the week saw easier conditions. Term316 words
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Article43 1977-10-31 8 FOR the week ended FRI- Oct 28 the range of call rates received from Bhort Deposits (M) Berhad was as follows: BANK FUND 2 3/8% to 3 3/8% GENERAL FUNDS 2 3/8% to 4%. Movements of funds totalled $703 million.43 words
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Article685 1977-10-31 8 ZURICH, Sun. The dollar lost ground In the first half of last week, falling to a new all-time low of 2.2270 against the Swiss Franc. Later It was able to recover somewhat. The yen strengthened and the dollar/ yen rate fell below the 250 level on Thursday. The dollar's685 words
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Article197 1977-10-31 8 LONDON, Sun. The dollar closed little changed against Leading European currencies on Friday, after a subdued end-month trading session confined mainly to book-squaring, with Impending continental closures early next week an additional dampener on activity, dealers said. Sterling added one base point on Thursday's close, finishing at 11.7770/75. The197 words
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Article32 1977-10-31 8 FRANKFURT exchanges closing quotes on Oct 28. US 2.2620/30 Can 2.0532/52 UK 4.022/027 Neth 93.25/35 Swltz 101.00/10 Italy 2.570/572 France 46.69/79 Japan 0.9040/60 Belg com 6.418/423 Belg fin 6.41/42 Norw 41.35/45.32 words
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Article278 1977-10-31 8 NEW YORK, Sun. The dollar closed weaker on balance after a quiet trading session marked by extreme volatility in the Canadian dollar, dealers said on Friday. The US dollar's decline came against the background of a smaller rise In US September economic Indicators than In August. They rose278 words
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Article164 1977-10-31 8 Euro rates LONDON, Sun. The rftarket was quiet on Friday, and rates showed little change from Thursday's closing levels, dealers said. Sentiment was unaffected by the modest fall In the weekly U8 narrowly defined money supply. The two month rate eased by on loss of Friday end of period, but164 words
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Article43 1977-10-31 8 Source: Astley and Pearce THE market was nervous last week. Overnight opened at 3 1/2, firming slightly towards midweek, before closing at 2 1/2 2 percent for the weekend. Term rates were erratic with some Interest In the ones and threes.Source: Astley and Pearce - 43 words
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Page 8 Advertisements
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Advertisement307 1977-10-31 8 from Penguin IN PENGUINS Yukio Mishima firmly upheld the traditions of Japan's imperial past, which he believed were being slowly eroded by Western materialism. Disillusioned he astonished the world* in 1970 by committing hara-kiri or ritual suicide by disembowelment. One of his last works, Runaway Horses, is now published in307 words
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MONDAY SPORTS
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Article, Illustration473 1977-10-31 9 Tchouk-ball a test of courage IN FRONT of the net, body airborne, it's all erace and grimace. The ball having been flung at the metresquare high-tension net, rebounds with a 'tchouk' at unpredictable and near impossible angles. Miraculously, before it lands on the ground, a defender, hand brushing grass blades,473 words
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1202 1977-10-31 9 PETER DOBEREINER - By PETER DOBEREINER The Observer THERE Is not much time. Soon they will arrive to lead me away. Specialists will prod me and lick their fingers and remark: 'Yes, It i Is true. He Is turning into marshmallow. Very interesting.* Knowing theThe Observer - 1,202 words
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679 1977-10-31 9 GEOFFREY NICHOLSON - By GEOFFREY NICHOLSON The Observer CHINA Is very nearly as mysterious to the West today as It was to Marco Polo. Only one British newspaper, one British news agency and the BBC, for Instance have correspondents In Peking. But the sporting traffic is aThe Observer - 679 words
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Article115 1977-10-31 9 JOGGING enthusiasts can now measure the distance they have gone without having to go on the same monotonous route every day. A local firm, Mitra Marketing, has decided to import jogging meters which can measure up to 10 kilometres. With the meters, from Canada, joggers can vary their115 words
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Article, Illustration788 1977-10-31 9 ERNEST FRIDA - By ERNEST FRIDA OERALD Loong, Tallb Haron, Ong Chew Bee and Llm Choo Beng yesterday qualified to represent Singapore (or the Putra Cup. They were the top four In the 72-hole trials organised by Singapore Golf Association. Gerald topped the list with a four-round aggregate of 307.788 words
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Article1372 1977-10-31 9 NEW YORK YANKEES NYT NEW YORK. Sun. George M. Steinbrenner confirmed last Sunday that he had been quietly buying out his partners on the New York Yankees, was now the majority shareholder and was reinvesting every dollar to perpetuate the World Championship won by the team lastNYT - 1,372 words
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Page 9 Advertisements
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Advertisement52 1977-10-31 9 NOW ON SALE at your regular bookshop. The phenomenal bestseller which has taken America by storm the story of a black American's search tor his roots in Africa. ROOTS has sold over 1 1 million hardback copies since its publication and it is continuing to top the bestseller lists even52 words
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582 1977-10-31 10 TAILOR TO DEMAND LONDON, Sun. Think creative and diversify into more sophisticated fashion lines, Singapore garment and textile manufacturers and traders were advised yesterday. They should also be more aggressive in their export drive and "not sit on their backs waiting for buyers" to come582 words
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533 1977-10-31 10 FOR A country with not a drop of crude oil In Its soil, Singapore has done extremely well, ranking as the third largest oil refining centre In the world, after Rotterdam and Houston In terms of output the petroleum Industry here is533 words
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403 1977-10-31 10 AP UPI TEL AVIV, Sun. Israeli postal workers declared a one-day strike today and other unions planned actions In what leaders promised would be a wave of protests unequalled in Israeli history against a government free enterprise economic reform. Earlier, the secretary of Hlstadrut,AP; UPI - 403 words
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315 1977-10-31 10 AMCOL Electrical Industries has been appointed agents for Techform Laboratories' speciality chemical compounds which will be available here for the first time soon. The agency also covers the other Asean countries. At the introductory presentation held over the weekend, Dr. J.A. Woolf, president315 words
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173 1977-10-31 10 UPI JALAPA (Mexico), Sun. The decision of 10 Latin American countries to suspend coffee exports until coffee price* go up on the world market has apparently met with success, the director of the Mexican Coffee Institute said yesterday. Mr. Fausto Cantu Pena saidUPI - 173 words
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Article140 1977-10-31 10 A 19-MEMBER Osaka Port goodwill mission arrived In Singapore yesterday with two objectives in mind that of Improving Japan's ties with the Republic In maritime activities as well as introducing facilities available through recent upgrading of the Osaka Port. Mr. Shlnzaburo Fukuyama, former Deputy Mayor140 words
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539 1977-10-31 10 UPI WASHINGTON. Sun. Soviet business enterprises In the West axe generally doing well and expanding In capitalistic style with 84 Jointly and wholly-owned firms involved in banking, shipping, fishing. Insuring, leasing and selling, the Central Intelligence Agency said in a report releasedUPI - 539 words
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232 1977-10-31 10 Reuter MANILA, sun. Australian and Philippine businessmen, meeting here over the past week, have agreed to set up a Joint consultative mechanism with the aim of easing trade barriers between their countries. A Joint communique issued at the weekend of the Philippines Australia businessReuter - 232 words
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Article221 1977-10-31 10 Reuter PEKING, Sun. A 20-man delegation of British business leaders arrived In Peking today for a symposium and talks with officials on business prospects in China. They had not been Informed, however, of the programme the Chinese were laying on for them. Sir Geoffrey Tuttle, directorReuter - 221 words
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Article433 1977-10-31 10 UPI TOKYO, Sun. Prime Minister Takeo Fukuda Is trying to form a concensus In his ruling party In favour of signing the long-delayed treaty of peace and friendship with China, two major Tokyo newspapers reported today. The treaty Is opposed by the Soviet Union. It alsoUPI - 433 words
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306 1977-10-31 10 Reuter WASHINGTON, Sun. US budget officials said they expect a review of the fiscal 1978 spending figures to produce a projected deficit smaller than the U8981.5 billion (*****.0 billion) currently estimated, but declined to provide a firm estimate at this point. Acting Budget Office DirectorReuter - 306 words
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389 1977-10-31 10 Reuter PARIS, Sun. An accentuation of present trends Is to be expected in the domestic Interest rates of major countries in the next three months, with further moderate hardening In short-term US rates and scope for further reductions in other countries, the OrganisationReuter - 389 words
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Article201 1977-10-31 10 UPI TOKYO, Sun. The top policy maker of Japan's ruling Liberal Democratic Party (LDP) said over the weekend that the yen is overvalued In relation to the real strength of the Japanese economy. However, Mr. Tohslo Komoto, former Minister of International Tjade and Industry, saidUPI - 201 words
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Article150 1977-10-31 10 Reuter WASHINGTON, Sun. The Senate yesterday cleared the way for future adoption of a major tax on US-produced crude oil, centrepiece of President Carter's energy conservative programme. The Senate did not actually approve Mr. Carter's tax plan but It refused by a 40 to 37 voteReuter - 150 words
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Page 10 Advertisements
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Advertisement57 1977-10-31 10 Announcwwnt Effective Tuesday Ist November 1977 Tsang Ong Stockbrokers Pte Ltd. will take over the trading operations of Tsong Ong Pte. The Directors, staff and remisiers of the new company are the same as the former company. The address and telephone numbers remain unchanged:lOrti Fleer UOB Kdy, 1 I—hum Street,57 words
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Advertisement215 1977-10-31 10 SEE PAGE 5 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 intoj215 words
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