The Business Times, 22 November 1977
1977-11-22
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The Business Times
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Title Section10 1977-11-22 1 BUSINESS TIMES M.C.(P) 300/1/77 TUESDAY, NOVEMBER 22, 1977 50 CENTS10 words
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Article199 1977-11-22 1 KUALA LUMPUR, Mon. Peninsular Malaysia recorded a bumper trade surplus of M 51.190.2 million In the first three quarters of this year an increase of $152 million over last year. This was due mainly to the huge increase in exports, which amounted to $8,404.7 million, up199 words
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NEWS IN BRIEF
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Article91 1977-11-22 1 Reuter AFP JERUSALEM, Mon. Egyptian President A n war Sadat and Isra eli Prime Minister Menachem Begin pledged today that their countries would never go to war again. President Sadat also announced that Mr Bejrin had won the right to visit Egypt but that they had agreedReuter; AFP - 91 words
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Article71 1977-11-22 1 UPI IS?*J?. n Sharp Cor P- 8411(1 today it has bolstered its part-owned electronics parts sing demand" 8 venture in Brazlllo meet IncreaThe company said Sharp Electronics Parts Manufacturing Co has started turning out speakers for colour TV and stereo sets at a monthly average of 600,000 units.UPI - 71 words
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Article63 1977-11-22 1 AFP LONDON, Mon. Lebanon is to raise US$l5O million (Ss36o million) on the international market, it was announced here today. This issue will be handled by an international consortium led by the Bank of America. It is for seven years and guaranteed by the Lebanese Government.AFP - 63 words
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Article62 1977-11-22 1 AP fected' iKtr FiJI I S i ugar lndustr y is being afI orst drou &ht in many years, a government spokesman said today. Planting for next season's cane harvest is well behind schedule with 65 per cent of the total crop planted, compared with about 88AP - 62 words
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Article77 1977-11-22 1 Reuter JAKARTA, Mon. A Vietnamese economic mls- arrived here for a 10-day visit during which it will confer with Indonesian officials on ways of expanding trade and economic links between the two countries, a Vietnamese embassy official said today. The mission, which flew in yesterday from Malaysia,Reuter - 77 words
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Article50 1977-11-22 1 AP ZURICH, Mon. The Swiss Clothing Manufacturers Association today called for export restraint agreements with Hongkong and other Asian low-wage producer countries. It said the domestic industry is threatened bv an increasing flood of imports from these countries and obstacles against Swiss clothing exports abroad. AP. 8AP - 50 words
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Article46 1977-11-22 1 AFP MANILA, Mon. Philippine Airlines (PAL) the country s flag carrier recently acquired bv* the government is planning to withdraw from the International Air Transport Association (lATA) S a r/ eported n today b y the English-Language Daily Express Quoting "highly-piacea source^AFP - 46 words
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Article65 1977-11-22 1 ADDIS ABABA, Mon. Ethiopia's Commerce and Tourism Minister, Ashagrle Yigletu vesterdayof>ened an East German trade and Industrial exhibition here by stressing his country's lntensubstan"ally reduce Its trade links with countries. 1 0 W r dfaVoUr Ethiopia's foreign trade not only depended on agricultural produce but also over 9065 words
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Article76 1977-11-22 1 UPI NEW YORK, Mon. Stocks were mixed early today as investors weighed the effects of Middle rt«mL?f ace efforts and the outlook for the domestic economy. The Dow Jones Industrial average, up a fraction at the outset, was off 1.12 points to around 1600 GMT. It gained OUPI - 76 words
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1146 1977-11-22 1 TERESA LIM - HONGKONG RETURNS TO THE TABLE By TERESA LIM THE WORLD textile market may be thrown into a chaotic price war by next year, if the crucial new Multi-Fibre Arraneement (MFA) falls through. The die is likely to be cast this very week. The current MFA1,146 words
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Article237 1977-11-22 1 A TRADE delegation from Chile, led by Minister for the Economy Pablo Baraona. will fly into Singapore tonight for a four-day visit. The 10-member team, comprising government officials and industrialists. will meet Finance Minister Hon Sui Sen. government officials and local businessmen to discuss ways237 words
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1307 1977-11-22 1 SON TUNG KENG - I" SON TUNG KENG CITIBANK, in terms of assets and deposits, tops the list of 72 commercial banks in Singapore In 1976. In terms of assets performance, among local banks, which take the fourth, fifth, sixth and tenth positions, the Development Bank of Singapore (DBS)1,307 words
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102 1977-11-22 1 AP KUALA LUMPUR. Mon. I Malaysia agrees In principle to Australia's proposal for a summit meeting of Commonwealth countries in the Asia-Pacific region. Foreign Minister Tengku Ahmad Rithauddeen said today Tengku Rithauddeen was speaking after an hour-long di«russion of Commonwealth matters and international issuesAP - 102 words
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250 1977-11-22 1 A MALAYSIAN consortiu/n, formed to handle a $4-billion housing project in Saudi Arabia could soon be siphoning off construction workers from Singapore projects. The chairman of Putra Pte Ltd Consortium, Syed Ali Al-altas, said that the project will offer opportunities for some250 words
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679 1977-11-22 1 AFP fRANKFURT. Mon. The US dollar plunged further on the European foreign exchanges today, hitting new lows against the Deutsche mark, the Swiss franc and the yen despite efforts by central banks to steady its rates. Dealers in Frankfurt, where the officials dollarAFP - 679 words
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Page 1 Advertisements
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Advertisement69 1977-11-22 1 '*r sz CHANGI COMPLEX Shops Flats •Ideal Location •Modefn Shops Shops ideal Ibr all hinds of business •Luxurious Apartments. Elegantly designed f "~"—FAR EAST REALTY (PTE.) UD. 9M» Robinson Road Snjjapofel Tei *****33 (5 lines) INSIDE Overseas News/TV ft Radio po Oversea# News/ Crosswords pj L«cal Co. News P4 International69 words
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Advertisement36 1977-11-22 1 CITROEN CX 2400 PALLAS has proved to be such a cartoucjh efficient elegant r: my IW m HtfißV nnc acEnciES pie. ltd BRUNEI AGEM RELIANCE DISTRIBUTORS 44 B J ALAN CHEVAUERBANOAR SERI Bfc3AV\A\. BRUNEI TEL 2b66536 words
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Advertisement252 1977-11-22 1 If-BIX COMPLETE COPYMG SYSTEM APS ELECTRONICS (PRIVATE) LTD SINGAPORE *****4 (St-oesi APS ELECTRONICS (M) SDN BHD KUALA LUMPUR Tpi 2174? *****'8456? Browning's bold new shape toward better golf is woy out in front! n IRONS This is the Browning 440 Some will call it daring, provocative or simply different. The252 words
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OVERSEAS
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Article821 1977-11-22 2 DELICATE ISSUE FOR CARTER NYT NEW YORK, Mon. Contrary to popular beliefs, the surge In ste*l imports this year has pome mostly from the major European producers, not from the Japanese. In the two latest months, the steel tonnage from Europe has In fact exceededNYT - 821 words
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Article101 1977-11-22 2 Reuter TOKYO, Mon. The Japanese House of Councillors (Upper House) today approved an agreement signed last March between Japan and the International Atomic Energy Agency (lAEA) following lAEA Inspections to ascertain the peaceful use of nuclear materials. The Lower House had already approved the agreement. The governmentReuter - 101 words
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Article460 1977-11-22 2 AFP ROME, Mon. While millions of Italians are unable to find Jobs In their own country, Italy Is Importing a new underground subproletariat from the Third World. Six million Italians have had to go abroad to find work, while at home 1.7 million are unemployed. Yet 120.000AFP - 460 words
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Article51 1977-11-22 2 TOKYO, Mon. Japan's Posts and Telecommunications Ministry today sent an Inspection team of engineers to the PhilipPines to start feasibility studies of a telecommunications project on Luzon Island, a ministry spokesman said. The survey team supported by the Japan International Cooperation Agency is made up of five telecommunications51 words
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320 1977-11-22 2 AP MOBCOW, Mob. Soviet officials promised to knprove the quality of Russian-made blue jeans, which are still scorned by young people who pay 10 times more for jeans smuggled in from the West. In an article in the youth newspaper Komsomolskaya Pravda, aAP - 320 words
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1150 1977-11-22 2 NYT NEW YORK, Mon. Thi recent increase In Soviet orders for American grain some 49 million bushel: (17 million hectolitres) ol corn and 13 million of wheat were reported last week alone has raised both the prices for the commodities and the bitterness olNYT - 1,150 words
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Article431 1977-11-22 2 FT LONDON, Mon. Britain's big textile retailers are ask* lng the government for a new deal on imports under which they would make more Information available on their future intentions in return for greater freedom to make long-term overseas supply arrangements. The retailers, whoFT - 431 words
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Article334 1977-11-22 2 UPI LONDON, Mon. The nationwide strike for more pay by Britain's 35,000 professional firefighters entered Its second week today with no end In sight. The government remained unwilling to shatter its antl-lnfla-tlonary wage rise celling of 10 per cent by giving in to the firefighters' demandUPI - 334 words
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Article225 1977-11-22 2 AFP NAIROBI, Mon. Better health in rich and poor countries can be achieved through eliminating environmental pollution rather than through increasing the number of doctors and expenditure on drugs, according; to a study for the United Nations environment programme which has its headquarters here. InAFP - 225 words
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1168 1977-11-22 3 FT FRANKFURT, Mon. It has been reported with glee from certain quarters that West Germany has finally become a net exporter of capital investment. Indeed, by the middle of this year official statistics Indicated that at last the Federal Republic's investments overseas exceeded foreignFT - 1,168 words
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414 1977-11-22 3 BOSTON, Mon. The senior executives of a company must set forth their ethical expectations and make clear that they apply throughout the company. Chemical Bank Chairman Donald Platten also told the Harvard Business School last week that corporations have an obligation to pursue414 words
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Article76 1977-11-22 3 Reuter THE HAGUE, Mon. Holland now expects to have a 1978 current payments surplus of 2.5 billion guilders (552.45 billion) down sharply from the September budget forecast of six billion guilders. In its forecast, the Central Planning Office said it has also revised downwards the forecastReuter - 76 words
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Article156 1977-11-22 3 LUXEMBOURG, Mon. The US$25O million (Ss6oo million) loan for Zaire now being arranged by Citibank will have realistic market pricing and Is conditional on Zaire paying back amounts owed under previous loans. Mr. Irving Friedman, Citibank senior vice president and adviser for International relations,156 words
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225 1977-11-22 3 Reuter WASHINGTON, Mon. The economic outlook for most segments of the US rubber industry Is good. President of the Rubber Manufacturers' Association, Malcolm Lovell, told the association's annual meeting domestic consumption of moulded, extruded and lather cut mechanical rubber products Is expected to riseReuter - 225 words
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507 1977-11-22 3 NYT LONDON, Mon. A leading British oil economist warns that America's mammoth bills for Imported oil may ultimately cost the country its technological supremacy, one of the country's most valuable assets. What Is more, there is little the'US can do In the nearNYT - 507 words
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Article35 1977-11-22 3 WASHINGTON, Mon. The United States' trade deficit will reach US$3O billion (Ss72 billion) by the end of the year an increase of $20.7 billion over last year, a congressional subcommittee forecast here yesterday.35 words
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753 1977-11-22 3 NYT NEW YORK, Mon. The credit markets have moved decisively towards lower interest rates in November, largely on the conviction that the Federal Reserve has decided not to raise short-term rates any more Just yet. The impact of this conviction has been moderately largeNYT - 753 words
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160 1977-11-22 3 Reuter WASHINGTON, Mon. The US should not use domestic monetary policy to correct its growing trade deficit. A congressional Joint economic committee report says the US should urge other Industrial nations to stimulate their economies while trying to maintain US economic growth without stimulating inflation.Reuter - 160 words
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Page 2 Advertisements
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Advertisement92 1977-11-22 2 HIGHLIGHTS OF OUR NOVEMBER ISSUE PROPERTY I he condominiums will be ready soon and the winner is the developer who offers the best package. LIFE AT THE TOP Personality profile of British Airuavs David Lowe: Y\ atchine the birds 20 bv. TRENDS W hat is influencing metal prices? C offee:92 words
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Page 2 Miscellaneous
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Miscellaneous316 1977-11-22 2 THE WEATHER WEATHER report for 24 houra prior to 7.30 pm on Nov 21 at Singapore airport. Maximum Temperature 30 o«r Associated Humidity 71 Minimum Temperature 23 2°r Associated Humidity 100 Hours of Sunshine 4 75 Rainfall in Millimetres NH Total Rainfall for the Month "305 9 Total Rainy Days316 words
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Page 3 Advertisements
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Advertisement143 1977-11-22 3 •S 1 mp S> *5 i V >- v v v > m V v A v V W\\ i Vw\ s vw, with IDD Whether you are buying or selling in the international market, the right time has much to do with the right price. Our IDD (International Direct143 words
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Page 3 Miscellaneous
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Miscellaneous647 1977-11-22 3 TWO-IN-ONE CRYPTIC PUZ- gr-K-K--ZLE CROSSWORD ACROSS 3 Cries very Uttle at first (5) 8 Act It In silent fashion (5) 1Q Ray holds £50. we gather (5) 11 It quite alters one's meaning L 3 > 12 Riding mannerism? (5) 13 Top man's Job (7) 15 Water to turn on647 words
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COMPANY NEWS
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Article525 1977-11-22 4 SIME DARBY Holdings chairman Tun Tan Slew Sin has said that with hindsight the company's sale of warrants In the 65 per cehtowned subsidiary, Consolidated Plantations, last year was an error of Judgment. However, he told shareholders at Slme's AOM In Kuala Lumpur last Friday525 words
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Article312 1977-11-22 4 Current Ex Date Total Ar Total for I payment Date payable the year previous year RenonfTin 35% Oct 31 Nov 22 50% 50% HK Land 2.4%I Oct 10 Nov 24 2.4% 6.6% Con Plant 85% Oct 14 Nov 25 120% 80% Malayan Banking 11V,% Nov 7 Nov. 26312 words
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884 1977-11-22 4 MALAYAN Banking Is confident that Bank Negara's introduction of a number of monetary measures aimed at channelling funds to the productive and priority sectors of the Malaysian economy would help reduce the high level of liquidity in the banking system. These measures will ensure884 words
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Article186 1977-11-22 4 THE following company meetings are due: Coytape Bhd: Nov 22 at 10.30 a.m. at Penthouse, 10th floor, Wlsma Central, Jalan Ampang, Kuala Lumpur. Perak Carbide Corp Bhd: Nov 22 at 11 a.m. at Penthouse, 10th floor, Wlsma Central, Jalan Ampang, Kuala Lumpur. Malayan Breweries Ltd: Nov 24 at186 words
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Article156 1977-11-22 4 SHAREHOLDERS of CTD Resources Oroup have passed a special resolution approving the voluntary liquidation of the company. A company notice Issued recently says shareholders at an extraordinary general meeting on July 30 this year passed the special resolution which approved the sale of its remaining non-llquld assets for156 words
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362 1977-11-22 4 AFTER AN ultimatum from the Kuala Lumpur Stock Exchange and "much difficulty", Kuala Lumpur Industries has disclosed the additional Information and provided copies of the relevant documents on the sale of 4.5 million shares In Public International Investments of Hongkong as requested by362 words
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Article239 1977-11-22 4 HIGHER sales, a reduction In unit cost and an adjustment in selling price contributed to the strong recovery enjoyed by Fusan Fishing Net Manufacturing In the six months ended June 30, 1877. Replying to queries from the Kuala Lumpur Stock Exchange, the company says group239 words
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649 1977-11-22 4 NYT NEW YORK: There has been considerable talk In Washington about the Idea of raising taxes on realised capital gains to parity with taxes on earned Income. Many members of the Wall Street community were surprised recently to find that Mr. Howard Stein favouredNYT - 649 words
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732 1977-11-22 4 SYDNEY: The focus on Australian takeover practices intensified last week when the Melbourne Stock Exchange suspended trading in the shares of a leather, plastics and footwear group, Mlchaells Bayley, after a large shareholding changed hands. At the same time, the directors of a laundry group,732 words
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402 1977-11-22 4 LONDON: William Jacks and Co (UK) said the decision to pay an Interim dlvl- dend of 0.66p net per 25p I share for the year ended June 30, 1977 was not only taken after considering the year's performance but also the402 words
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Page 4 Advertisements
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Advertisement245 1977-11-22 4 What is Malaysia doing ensure natural rubbers rightful place in industry? Find out in the November 1977 issue of MALAYSIAN BUSINESS MALAYSIAN BUSINESS this month takes a close look at the rubber industry from the processing and marketing to the industrial use of the product and the technological advancements made.245 words
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INTERNATIONAL COMPANY NEWS
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Article317 1977-11-22 5 NORTH AMERICAN COMPANIES Reuter KENNECOTT Copper Corp., which last week offered to buy Carborundum Corp. for US$66 a share, disclosed that an earlier offer of around $60 had been rejected. When Kennecott's offer was disclosed, many analysts expressed surprise at its size sinceReuter - 317 words
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Article80 1977-11-22 5 Reuter EASTERN Airlines Inc's public offering of two million shares of U552.69 cumulative preferred stock is underway at $25 a share, an underwriting group headed by Lazard, Freres and Co and Merrill Lynch, Pierce. Fenner and Smith Inc said. The offer will increase Eastern's equity base in anticipationReuter - 80 words
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Article99 1977-11-22 5 THE Export Development Corp said it signed an agreement on a U5542.5 million loan to support a sale of $50 million by Interimco Trading Co of Ottawa to the Philippines. The corporation said the support will be for a mining project in the Philippines by Benguet99 words
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Article53 1977-11-22 5 CROCKER Bank of California has opened a branch office in Manila under the terms of the offshore banking unit which allows the bank to accept deposits and make loans In foreign currencies only. The bank said it will not be allowed to accept deposits or make loans in53 words
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538 1977-11-22 5 DOW Chemical's fourth quarter earnings are un10 exceed last year's US7B cents a share, producing a net profit for the somewhat less than the $3.30 earned in 1976, "nanfla vice-president O'J. Williams told security analysts. For the 12 months ended Sept 30 1977,538 words
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Article180 1977-11-22 5 CAPITAL and exploration spending of Texaco Inc In 1978 will be about US$l.75 billion, up from about $1.0 billion in 1977, chairman Maurice F. Granville told Reuters after an analysts meeting in New York last week. Mr. Granville said this increase is primarily due to planned180 words
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662 1977-11-22 5 EUROPEAN COMPANIES FT A NINE-WEEK strike at two U.K. factories left taxable profit of Chloride Group £3.6 million lower at £7.22 million in the halfyear ended Sept 30, 1977. Sales for the period climbed from £121.6 million to 134.1 million. The directors estimateFT - 662 words
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217 1977-11-22 5 Reuter THE Association of West German Stock Exchanges, currently chaired by the Bavarian bourse, will recommend 10 new shares for inclusion In German call and put option trading, a Munich bourse official said. The recommend listings, to be discussed here on Nov 25 byReuter - 217 words
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Article200 1977-11-22 5 Reuter PRE-TAX profit at Charter Consolidated advanced 19 6 per cent from 19.74 million to €23.61 million for the first half-year ended Sept 30. 1977. v Investment income, which included £797,000 (£2.33 million) from associated companies, amounted to £11.76 million, up about six per cent from £11.1Reuter - 200 words
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154 1977-11-22 5 F.W. WOOLWORTH of the UK said the rate of increase in sales shows some improvement in the third quarter this year but it is insufficient to support other than a cautious view of the full year result. The company reported a pre-tax profit154 words
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Article69 1977-11-22 5 FOR the fifth week running, unions at Flat SPA prevented management plans for Saturday overtime to boost production of the 127 model, union sources said. Flat management had been seeking to raise 127 production to meet strong demand 'to reduce delivery delays through a series of69 words
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539 1977-11-22 5 FT INCLUDING an underwriting surplus of £17.8 million., against a loss of £14.9 million Royal Insurance Company almost doubled pre-tax profit for HJ®, nine months of frorn £53.1 million to £103.9 million. This represented an advance of £38.3 million compared with £18.6 million inFT - 539 words
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214 1977-11-22 5 COMMONWEALTH Oil Refining Co said it Is likely to report a loss in the fourth quarter of 1977, following a third quarter profit. It said recent improvements In operations have been offset by higher raw material costs, and a further weakening of the petrochemicals214 words
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Article108 1977-11-22 5 ASIAN COMPANIES SNOW Brand Milk Products said it expects a 21 per cent fall In net profit for the current year ending March 31,1978 to 2.30 billion yen from 2.91 billion yen In 1976/77. Sales, however, are expected to reach 365 billion yen, up 3.8 per108 words
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Article104 1977-11-22 5 Reuter DAIWA Seiko Inc said arrangements are being made for the public Issue of 4.5 million shares of 50 yen common stock in the form of european depositary receipts (EDRs). The EDRs will be listed on the Luxembourg Stock Exchange and formal trading will begin after DecReuter - 104 words
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Article75 1977-11-22 5 THE Federal Loan "Council is being asked to approve buyers credit arrangements being arranged in West Germany to cover around As2Bo million of contracts for the Victoria State Electricity Commission's Loy Yang power project. Victoria premier Dick Hamer said. Mr Hamer said he expects the council to approve75 words
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242 1977-11-22 5 MITSUI and Co expects sales in the current year ending March 31, 1978 to rise to 9.06 trillion yen from 9.02 trillion yen In 1976/77. After-tax profit will fall below the past year's 13.32 billion yen, It said but was unable to make a242 words
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Article132 1977-11-22 5 MARUBENI Corp said its after-tax profit for the current year ending March 31, 1978 will fall to four billion yen from 8.15 billion yen in 1976/77 on sales of 6.4 trillion yen (6.44 trillion yen). It attributed the decline to the sharp appreciation of the yen132 words
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Article137 1977-11-22 5 Reuter MITSUBISHI Corp expects a virtually unchanged after-tax profit of about 18 billion yen for the current year ending March 31, 1978 1976/77 17 94 bllll n yCn ln Sales will total 9.5 trillion yen against 9.61" trillion, and it hopes to declare a dividend ofReuter - 137 words
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Page 5 Advertisements
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Advertisement389 1977-11-22 5 A Major New Talent in Penguins Paul Theroux Paul Theroux, an American now living in London, has been acclaimed as one of today's major writers compared with Graham Greene and Joseph Conrad. The Great Railway Bazaar, his latest in Penguins is the true story of Theroux's railway odyssey from London389 words
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1301 1977-11-22 6 MANO SABNANI - LATEST RESULTS DUE SOON »y MANO SABNANI CYCLE AND Carriage and Wearne Brothers appear Klsed to announce their st-ever set of results at the end of this month. After a hefty 81.8 per cent leap In Interim pre-tax profit to $13.28 million, Wearnes is1,301 words
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Article, Illustration1021 1977-11-22 6 LONDON: Just a few years ago, It looked as though Sears. Roebuck and Company, the largest retailer In the United States, was In trouble. Chicago headquarters had little control over the highly decentralised organisation and the competition had begun to catch up.1,021 words
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918 1977-11-22 6 FT LONDON: The European motor Industry Is once again heading Into a period or heavy investment. After the crisis of confidence engendered by the oil price rise four years ago, a handful of Europe's major companies Renault, Ford, Oeneral Motors and Volkswagen have withinFT - 918 words
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1153 1977-11-22 6 FT PERTH: Work is now getting under way on the A*ss million study which will determine the feasibility of Investing As 3 billion or more In tapping the natural gas riches of Australia's North-West Shelf. This month's announcement of the first contracts for theFT - 1,153 words
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Page 6 Advertisements
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Advertisement176 1977-11-22 6 Confront Singapore's decision makers in Business limes For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who176 words
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Article, Illustration1958 1977-11-22 7 FT LONDON: The giants of the world's telecommunications industry are taking up positions for a crucial round In the struggle for domination of a new generation of computercontrolled equipment. The contest Is to be fought out In the dusty deserts of Saudi Arabia,FT - 1,958 words
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INTERNATIONAL STOCK MARKETS
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Article328 1977-11-22 7 HONGKONG: The market eased slightly In very quiet trading with lack of both buying and selling interest, dealers said. The Hang Seng Index fell 3.11 points to 422.40. The most actively traded shares were Hutchison which fell five cents to $3.00 and Hongkong Bank, down 10 to 18.30 while328 words
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Article489 1977-11-22 7 TOKYO. The stock market fell shaiply, with the Dow Jones Index losing a 24.19 to a year's low of 4,829.23 following the yen's further sharp appreciation here, dealers said. The new Index clozed at 303.27, down 1.85, with volume of 150 million shares. Export-orientated electrlcals, vehicles and precision Instruments489 words
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Article495 1977-11-22 7 SYDNEY: The market continued tower, with sentiment still depressed by opinion polls showing the Labour Party ahead of the government and the federal Treasurer's resignation, although some shares recovered part of early losses, dealers said. The Sydney All-Ordlnarles Index fell 3.88 points to 439.39. Uraniums fell on the prosKct495 words
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Article161 1977-11-22 7 MANILA: The market closed mixed with commercials slightly higher while mining and oils continued easier, dealers said. Turnover fell to 7.83 million pesos from Friday's 11.03 million. Atlas lost four points while other mining issues declined minimally Oils were lower with Phil Overs**! down six points. Mermlco rose 12161 words
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Article120 1977-11-22 7 NOV SI Bahts Asia Fibre 245 •IS Bangkok Bank 379 -8 Bangkok Invest. 328 -10 Bangkok-Metro-politan Bank 3490 Bata 8106 Berll Jucker mob Charoong ThaJ Wire 298 -39 Dumex Duslt Thanl 3406 -10 Faber Merlin First Trust 275 SI Oenerm Finance 3088 Indo-Thal Industrial Finance Corp 2143 -80 J120 words
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Article775 1977-11-22 7 NYT NEW YORK: Brokerage firm promotional mailings are beginning to emphasise tips on tax selling, a sure reminder that the year-end holiday season Is approaching. Every December, many Investors sell stocks In which they have big losses as a way or sharing at least some ofNYT - 775 words
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728 1977-11-22 7 NYT NEW YORK: The Bohack Corp. has alleged that Charles O. Bluhdorn, chairman of Gulf and Western Industries Inc., falsely testified on four separate occasions during a 1973 deposition, and that Bluhdorn directed Bohack's former president to give similar flase testimony. The allegations areNYT - 728 words
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Page 7 Advertisements
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Advertisement462 1977-11-22 7 BUSINESS TIMES Airline Directory AaroMot Soriot Airlines 110-112 Slmw Cwrtn, Orchard Road, (Ta4: 377.111) Air Coyton 302-B, 3rd Floor, Marino Hausa SKanton Way, Singopora (1) (Tat: ***** M) Air Franca Ground. Floor, IC> Buildina, SKanton Way Sinaoaara 1 fTal: *****11) lMi Floor, UIC Building, Shanton Way, Singapara 1 (Tal: 2205.277)462 words
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COMMODITY REPORTS AND PRICES
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1301 1977-11-22 8 AFP LONDON, Mon. Coln- elding with the first signs of extra Soviet grain buying interest, cereals moved generally firmer on the commodity markets last week, while gold slumped after its recent strong performance. «o. The Improved prospects of peace In the Middle EastAFP - 1,301 words
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414 1977-11-22 8 AFP Reuter WASHINGTON, Mon. A further 23,754 tonnes of soybeans were exported to China by the US last week, and there will be an additional sale of 51,402 tonnes, USD A reported. The sales are part of the 390,000 tonne any»origln contract announcedAFP; Reuter - 414 words
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Article414 1977-11-22 8 HONGKONG, Mon. Sugar futures closed mixed and slightly easier from the mainly firmer opening, in moderately active trading dealers said. March and May fell U50.07 and 0.02 cents respectively on trade selling towards the close, while September and October rose 0.02 and 0.08 cents respectively on buying from414 words
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Article202 1977-11-22 8 BANGKOK, Mon. In- dicatlve prices for rice quoted today j(UB dollars per lonne fob basis Bangkok): Whit* Rice: 100 pet Ist class 319. 100 pet 2nd 305. 100 pet 3rd 290. 5 pet 289, 10 pet 270. 13 pet 207. 20 pet 254. 29 pet 257 35 pet unq.202 words
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Article129 1977-11-22 8 LONDON, Mon. Coffee futures opened £30 per tonne lower to unchanged with 230 lots traded. The official tone was "slightly easier." Dealers said trading was light with commission house buying and trade selling. There was no fessh background news to Influence the market and the easiness was in line129 words
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Article98 1977-11-22 8 LONDON, Mon. Terminal sugar opened £0.65 to to. 15 down from Friday mainly on stronger sterling, dealers said. There was no fresh news in physicals to affect sentiment. The London dally price for raws was unchanged at 1100 per tonne, but whites lost £1 at £108. Sugar futures closed98 words
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Article158 1977-11-22 8 LONDON, Mon. Terminal rubber closed a dull morning mostly down from Friday by 0.15 pence to 0.55 pence on the strength of sterling. The two nearby positions were exceptionally higher by 0.35 to 0.10 pence on technical factors. Dealers said turnover totalled 50 lots Including two kerbs158 words
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Article169 1977-11-22 8 LONDON, Mon. Cocoa futures opened with near Dec £6 lower, while other positions showed gains of up to £20. Volume totalled 459 lots of which more than half was In the Mch position. A total of 136 lots were self trades. The official tone was "about steady." Some speculative169 words
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Article140 1977-11-22 8 RETAIL prices per lael quoted by the Singapore Chinese Oold and Silver Merchants Association are $500 for 90 per cent gold, <530 for 22k gold and $560 for 24k gold. The Singapore gold market was closed yesterday for the Harl Raya Hall holiday. In LONDON yesterday, the morning fix140 words
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Article111 1977-11-22 8 LONDON. Mon. Tin standard lost £5 for cash and gained £12 for three months while high grade was down £10 and up £2 respectively. Dealers said the premarkets sagged under tired long liquidation induced by easier Penang on Saturday together with lower gold. Three months standard traded down to111 words
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Article94 1977-11-22 8 LONDON, Mon. Copper wlrebars finished the morning showing all round losses of £6. Dealers said prices gave ground on the pre-market under modest liquidation prompted by lower gold, steadier sterling and a larger than expected increase in warehouse stocks. The current total of 638,100 tonnes is a new high.94 words
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Article72 1977-11-22 8 LONDON, Mon. Silver finished the ring with all round losses of 3.9 pence per troy ounce. The market came under pressure from general liquidation following the sharp dip in gold, steadier sterling and the general drift In base metals. Three months started the pre-market at 267.8 pence and fell72 words
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Article70 1977-11-22 8 LONDON, Mon. Lead ended the morning ring CI. 25 down for cash and C 1.75 lower for three months. Market sources said Initial steadiness met a tack of follow through support on the ring due to the down- turn In copper. After trading up to £352 In the pre-market,70 words
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Article80 1977-11-22 8 LONDON Mon. Zinc was down £5 for cash and £3.25 for three months at the end of the morning ring. Dealers said the market was marked lower in thin dealings in line with the downturn In copper until some fresh buying from an influential quarter Rave support at £29880 words
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Article1045 1977-11-22 8 MAJOR QUESTION MARK REMAINS FT THE HAGUE, Mon-The major question mark hanging over the Dutch capita] and money markets concerns the likely Impact of the central bank's credit controls. The latter announced limits on the growth of bank lending as far back as May but theseFT - 1,045 words
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MONEY AND EXCHANGES
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Article264 1977-11-22 8 TOKYO, Mon. The dollar for overnight delivery closed at 242.80 yen, compared with a 243.40 opening and 243.35 at Friday's close. The Bank of Japan intervened actively, buying an estimated US$2OO million during the day to stem its fall. Trading was very active with volume $476 million, dealers said.264 words
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Article34 1977-11-22 8 ACBC 7 Algemene Bank 7 Bangkok Bank HSBC Bank of America Bank of China Malavan Banking Bank Nefara 7 OCBC SV. Ol'B I'CB Chase Manhattan 7 I'MBC DBS 7 1 OB34 words
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Article158 1977-11-22 8 LONDON, Mon. The dollar opened weaker against major currencies here in Initially active trading as the downward trend in the US currency, stemming from American payments deficits resumed. The fall was initiated In the Far East where the yen led currencies higher. It stands here around 242.25/ 45 to158 words
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Article117 1977-11-22 8 HONGKONG, Mon. The US dollar eased to 242.60/80 yen from Its 243.49 New York Friday closing midpoint in fairly quiet trading after recovering to 242.70/00 in the afternoon from Its morning low of 242.00/20. Sterling firmed slightly to U551.8275/85 from $1.8270/80 at the Friday New York close but fell117 words
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Article57 1977-11-22 8 AUSTRALIA/NZ exchanges quoted on Nov 21 AUSTRALIA: Sterling 0 8207/ 0.6138 US dollar 1.1305/ 1.1257 Ninety-day air mall buying rates Sterling 0 8335 US dollars 0.6142 Ninety-day forward buying rate* Sterling ***** US dollars 1 1237 NEW ZEALAND: Sterling 0.5480/ 0.5450 US dollars 1.0023/ 0 9923 Ninety-day forward rate:57 words
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Article40 1977-11-22 8 FRANKFURT exchanges opening quotes on Nov 21 U8 2 2385/75 can 2 0180/80 UK 4 087/097 Neth 92 65/75 Swltz 101 85/95 Italy 2 545/555 France 46 08/18 Norw 40 98/41 08 Belg com 6 34/35 Japan 0 9222/3240 words
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Article381 1977-11-22 8 LONDON, Mon. Trading in Eurobonds was very quiet with prices little changed from Friday's closing levels, dealers said. Eurobond prices quoted on Nov 21 Straight* Bid Offer Nippon Fud Bank 7*. 82 trt\ 981. DSM( Holland) 8 V, 87 97V. 98% BNDE (Brazil 84 98i. 99 l Sweden381 words
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Article143 1977-11-22 8 Euro rates LONDON, Mon. Eurodollar deposits opened basically unchanged from Friday's close. Trading was quiet due to the usual Monday slow start and the holiday in Singapore. Period rates opened little changed, but a Friday end of period in one month made for a gain of around H from Friday's143 words
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Advertisement403 1977-11-22 8 Kf* from Penguin J 1976 Nobel Prizewinner IN PENGUIN 1976 Nobel Prize Winner is at his best again in his latest book To Jerusalem and Back'. As with his recent best-seller 'Humboldt's Gift', Bellow's brilliant images emerge at frequent intervals like sunshine through fog, witty, clever, radiantly imaginative and without403 words
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Article, Illustration1272 1977-11-22 9 DUTCH SHIPBUILDING INDUSTRY FT LONDON, Mon. A review of the large Dutch shipbuilding Industry, published by the Economics Ministry, arrived at two main general conclusions, both of which have received the full support of the troubled Industry itself. It stated that only with "very big (financial)FT - 1,272 words
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Article416 1977-11-22 9 Reuter NEW YORK, Mon. The International Longshoremen's Association said it might hold a ratification vote next Wednesday to end the six week East and Gulf Coast strike against container ships. An ILA spokesman said If the ratification vote among about 50,000 ILA members were heldReuter - 416 words
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Article165 1977-11-22 9 UPI ADELAIDE, Mon. The Chinese grain ship Wuzhou left Australia over the weekend following a month of detention by the state government because of a major harbour accident, shipping authorities reported. The 25,000-ton vessel last month crashed Into a grainloadlne wharf at the South Australian portUPI - 165 words
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Article, Illustration243 1977-11-22 9 21 West Chen Fong (3FTX) (1500 after Bunga Seta war) 19 Bunga Melatl (1830, hauls after Murrayeverett sails, must head west for UTM/L and D/L) 33/34 Patroclus (after Bunga Melatl hauls, UTM/L) 31/2 Dona Montserrat (2100, after Rosarlo Maru) 35/36 Turkmenlya (1200, after Rasa Sayang) 42/43. Ramona (A8VB)243 words
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Article385 1977-11-22 9 AFP LONDON, Mon. Against a background of talk that crude oil prices may be Increased in the new year by the Organisation of Petroleum Exporting Countries (OPEC), demand was well maintained on the tanker market last week In the Gulf states area, although perhaps a little lessAFP - 385 words
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191 1977-11-22 9 THE Soviet external transport corporation, Sojuzvneshtrans, has proposed to the Japanese Transport Ministry the establishment of a Joint forwarding firm for trans-Siberian containers. According to the latest issue of the International Transport Journal, a weekly transport publication based In Switzerland, the Soviet proposal to the191 words
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Article85 1977-11-22 9 Reuter HONGKONG, Mon. A delegation from Singapore's Neptune Orient Lines, led by Mr. Ooh Chok Tong, left Peking yesterday to visit Southern China, the New China News Agency reported. While in Peking, the delegation had business talks with the China National Chartering Corporation and the ChinaReuter - 85 words
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244 1977-11-22 9 UPI NEW YORK, Mon. The US airline industry "appears headed for a banner year" with total earnings amounting to a record 1600 to $700 million. Business Weeh magaxine said in its Nov. 28 issue released last Friday. The weekly said this is thanks toUPI - 244 words
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175 1977-11-22 9 AP FIJI, Mon. Air Pacific said last Friday that it expects to maxe a record profit of about U552.45 million in its current financial year after losses in the previous five years totalling Fiji $2.2 million. In a preliminary statement on the results for theAP - 175 words
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Article695 1977-11-22 9 ARRIVALS cMWIO Local Operator Number Tin m From CAL CI 331 0040 TPE/HKO/KUL CPA CX003 0145 HKO TMA TL303B 0215 BEY/DXB/BOM/ KUL MAS MH601 0715 KUL MAS MH682 0810 KCH SIA SQ101 0815 KUL MAS MH621 0850 PEN MAS MH607 0900 KUL MAS MH071 0045 PEN/KUL CAL695 words
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Article215 1977-11-22 9 HAPAG-LLOYD Is the result of a merger between two giant shipping organisations the HamburgAmerlka Line (Hamburg Amerikanische Packet-fahrt-Actlen-Gesellschaft or Hapag) and Norddeutscher Lloyd, in 1970. Hapag-Lloyd has a longstanding tradition spanning some 90 years' service in the Far East trade. Today, the West German company owns some 60 vessels,215 words
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Advertisement161 1977-11-22 9 Co; the 8 Steps to Health and Peace by Richard L. Hittleman (author of u yoga 28 day EXERCISE PLAN) Richard Hittiamsn, tha most widsly-raad author in tha world on tha subjact of yoga, praaants in this book his moat complata and in-dapth study of tha sub)act to data. Inatruction161 words
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Article, Illustration1236 1977-11-22 10 LEONARD SILK - Dirty floating has been too chaotic. Clean floating seems impossible to achieve. Managed floating will be the next experiment. LEONARD SILK looks at the US dollar. LEONARD SILK NYT NEW YORK, Mon. The dollar has sunk sharply against the West German markNYT - 1,236 words
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Article1249 1977-11-22 10 NYT NEW YORK, Mon. The domestic aspects of the American economy continued to brighten last week, but the International side was still being tarnished by a number of unsettling developments. Fortunately, however, some of the latter may prove to be transitory Irritants without long-termNYT - 1,249 words
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Article921 1977-11-22 10 PETER RIDDELL - THE increase in the international value of sterling could have conflicting results. It might undermine the competitive position of UK exports and thus reduce economic activity. It might also reduce inflation, through cutting import prices and reducing wage demands. The economists are still arguingFT - 921 words
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Article775 1977-11-22 10 FT MANILA, Mon. Manila Is a little cleaner, a little smarter than It was a few years ago. Under the beady eye of martial law, the city is beginning to enjoy a sort of perky prosperity. Poverty still abounds, but walled off from theFT - 775 words
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Article, Illustration905 1977-11-22 10 NYT MANILA, Mon. The officially sponsored construction of 14 new luxury hotels at once here last year, at a cost approaching US$5OO million, has left the hotels badly In debt and the Philippines Government In danger of acquiring the world's largest chain of hotelsNYT - 905 words
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Advertisement52 1977-11-22 10 NOW ON SALE at your regular bookshop. The phenomenal bestseller which has taken America by storm the story of a black American's search for his roots in Africa. ROOTS has sold over 1 1 4 million hardback copies since its publication and it is continuing to top the bestseller lists52 words
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292 1977-11-22 11 UPI Reuter LA PAZ, Mon. An American delegate suggested the establishment of a world monetary system based on a tin standard. Mr. F.H. Buttner of the Batelle Institute of the United States suggested that a world monetary system based on tin could beUPI; Reuter - 292 words
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428 1977-11-22 11 THE SINGAPORE Institute of Management will be conducting a series of lectures on management problems from January next year. Mr. Martin Stone of Martin J. Stone and Associates will be conducting two courses, "Work simplification in the factory" from Jan 16 to 18, and428 words
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Article231 1977-11-22 11 OCEAN Building will soon get a face lift when William Jacks begins cleaning it. Completed In 1974, the building would not be due for cleaning before 1979. to meet the-Controller ofButidings' normal requirements. Property manager Mr Wan Fook Kong explained that the move was231 words
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Article138 1977-11-22 11 THE US International Marketing Centre (US IMC) will hold a meeting tomorrow to brief selected local trading companies on the coming Avlex '78, an exhibition of avionics and aviation support equipment. The exhibition is to be held at the US IMC between Feb 20 and138 words
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Article137 1977-11-22 11 Reuter KUALA LUMPUR, Mon. Vietnam will step up Its bilateral trade with Malaysia following the visit here of a Hanoi trade delegation. Vietnam's Vlce-Mlnlster for Foreign Trade Nguyen Chanh, who led the delegation, said a report will be submitted to the Vietnamese government aboutReuter - 137 words
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Article27 1977-11-22 11 THE Singapore International Chamber of Commerce (SICC) will be holding its half-yearly general meeting at the Singapore Town Club, Straits Trading Building tomorrow at spm.27 words
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Article132 1977-11-22 11 IN AN effort to Increase American exports to Singapore, the Pacific Northwest Regional Commission (PNRC) is holding a "Fall Processed Food Show" in the Gardenia Room at Shangri-La Hotel today and tomorrow. PNRC Is a federal organisation which represents the states of Idaho, Oregon and132 words
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Article862 1977-11-22 11 Reuter CANTON, Mon. China's foreign trade faces a promising future as the economy gathers pace, according to Canton trade fair secretary Tseng Chun-wal. Mr. Tseng said hi; country's trade was back on the correct path after being led astray by the "distorted policies andReuter - 862 words
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Advertisement45 1977-11-22 11 CORPORATE ANNOUNCEMENTS CARRY MORE WEIGHT IN THI MX 9 "IT Mile l-*—— J,r MAACN 19T7 f s *sr*sz+ gs^ 4X2& 0 sSSSS^ OUTH PAC, "CT«TIL£ MDUSTBIES AWP ITS WHiMAiiyi -V. J A 4 WA\\\ 1 \> XV .I^-'■■■'■'■„ #V) PPI 3 <%r*' nr >- a fer k£l45 words
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640 1977-11-22 12 UPI NEW YORK, Mon. Industrialised nations must reflate their countries to keep the world from sinking Into lower economic growth rates, according to an economic forecast prepared by Newsweek International and the Wharton School. The forecast said the United States, Germany andUPI - 640 words
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Article, Illustration209 1977-11-22 12 WEST Alia remains the largest oil producing region in the world, with ita 1976 total production of 1,100 million tonnes exceeding the combined output of the US and Russia, the second and third largest producers in the world. Production in the USSource: The BP Statistical Review of the World Oil Industry 1976 - 209 words
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454 1977-11-22 12 DEVELOPING countries should select and adapt imported technology to suit local conditions. The ADB's acting chief economist, Mr. K.N. Kohll states this In the bank's latest quarterly review. Firstly, he argues, the equipment needed to apply such technology is generally designed for developed454 words
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Article809 1977-11-22 12 LONDON. Mon. The market was very quiet with sentiment still depressed by the firemen's challenge to the British government's pay policy, dealers s&ld. Government bonds pared falls of up to point by around during the afternoon and held steady around these levels at the close. Speculation over the809 words
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533 1977-11-22 12 MEMBERS of the crisistorn board of Magnum Corp will confront each other tomorrow at a specially convened board meeting apparently totally unrelated to the events leading up to last Friday's resignation of chairman and chief executive, Da to Khoo Kay Peng and six533 words
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379 1977-11-22 12 WORLD tlnplate production this year Is likely to exceed the 1974 record. For the first half of 1977, world tlnplate production totalled 7.332,400 tonnes, nearly 500,000 tonnes up on the corresponding period last year, (a more than 7 per cent Increase). Indications are379 words
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Article35 1977-11-22 12 UPI TOKYO, Mon. Hitachi Shipbuilding and Engineering Co has received a US$l4 million (5533.6 million) order from the Soviet Union for the world's largest automobile press plants, Hitachi officials said today. UPIUPI - 35 words
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705 1977-11-22 12 AFT TOKYO, Mon. The United States and Japan today set a Nov 30 deadline for reaching a common approach on the question of reducing Japan's swollen foreign trade surplus.. Official American sources here also said that temporary agreement ended four days of talks In whichAFT - 705 words
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Article123 1977-11-22 12 A SINGAPORE firm will be granted a licence to manufacture domestic appliances for a major U8 supplier, Philco International Corporation, said Phllco's president, Mr. Joseph D. Standeven, yesterday. Mr. Standeven said, "We will run quality checks ourselves at the early stage of production to ensure123 words
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Advertisement70 1977-11-22 12 ONCE-IN-A-LIFETIME OPPORTUNITY AWAITS YOU AT CHATEAU BLEU DEVELOPMENT (800 acres) IN THE WORLD FAMOUS LAURENTIANS close to MONTREAL. CANADA MONTHLY PAYMENTS as low as CS4S per month for 20,000 sq. ft. of Investment Land Building Lots also available For details vvrite or post the coupon to SRI Development Co (S)70 words
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Advertisement89 1977-11-22 12 TSINGTAO one of the ten famous beer In China. Tsingtao beer is distilled from the sparkling mineral waters of Mount Lao&han in China. There's abundant goodness bottled up in Tsingtao The goodness of the finest barley and hops and mineral waters. Come, taste the difference in Tsingtao beer. Av.nLil'lt'm .ill89 words
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