The Business Times, 22 November 1977

Total Pages: 12
1 12 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) 300/1/77 TUESDAY, NOVEMBER 22, 1977 50 CENTS
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  • 199 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 $8,404.7 million, up
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  • NEWS IN BRIEF
    • 91 1 Reuter AFP JERUSALEM, Mon. Egyptian President A n war Sadat and Isra eli Prime Minister Menachem Begin pledged today that their countries would never go to war again. President Sadat also announced that Mr Bejrin had won the right to visit Egypt but that they had agreed
      Reuter; AFP  -  91 words
    • 71 1 UPI IS?*J?. n Sharp Cor P- 8411(1 today it has bolstered its part-owned electronics parts sing demand" 8 venture in Brazlllo meet IncreaThe company said Sharp Electronics Parts Manufacturing Co has started turning out speakers for colour TV and stereo sets at a monthly average of 600,000 units.
      UPI  -  71 words
    • 63 1 AFP LONDON, Mon. Lebanon is to raise US$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
    • 62 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 88
      AP  -  62 words
    • 77 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
    • 50 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. 8
      AP  -  50 words
    • 46 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
    • 65 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 90
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    • 76 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 O
      UPI  -  76 words
  • 1146 1  -  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 MFA
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  • 237 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 ways
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  • 1307 1  -  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)
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  • 102 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 issues
    AP  -  102 words
  • 250 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 some
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  • 679 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 dollar
    AFP  -  679 words
  • Page 1 Advertisements
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  • OVERSEAS
    • 821 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 exceeded
      NYT  -  821 words
    • 101 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 government
      Reuter  -  101 words
    • 460 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 120.000
      AFP  -  460 words
    • 51 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 telecommunications
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    • 320 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, a
      AP  -  320 words
    • 1150 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 ol
      NYT  -  1,150 words
    • 431 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, who
      FT  -  431 words
    • 334 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' demand
      UPI  -  334 words
    • 225 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. In
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    • 1168 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 foreign
      FT  -  1,168 words
    • 414 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 pursue
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    • 76 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 forecast
      Reuter  -  76 words
    • 156 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,
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    • 225 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 rise
      Reuter  -  225 words
    • 507 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 near
      NYT  -  507 words
    • 35 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.
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    • 753 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 large
      NYT  -  753 words
    • 160 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
  • Page 2 Advertisements
    • 92 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:
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  • Page 2 Miscellaneous
    • 316 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 Days
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  • Page 3 Advertisements
    • 143 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 Direct
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  • Page 3 Miscellaneous
    • 647 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 on
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  • COMPANY NEWS
    • 525 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 Friday
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    • 312 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. 26
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    • 884 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 ensure
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    • 186 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 at
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    • 156 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 for
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    • 362 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 by
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    • 239 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 group
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    • 649 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 favoured
      NYT  -  649 words
    • 732 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,
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    • 402 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 the
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  • Page 4 Advertisements
    • 245 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.
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  • INTERNATIONAL COMPANY NEWS
    • 317 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 since
      Reuter  -  317 words
    • 80 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 anticipation
      Reuter  -  80 words
    • 99 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 Benguet
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    • 53 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 in
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    • 538 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 $3.30 earned in 1976, "nanfla vice-president O'J. Williams told security analysts. For the 12 months ended Sept 30 1977,
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    • 180 5 CAPITAL and exploration spending of Texaco Inc In 1978 will be about US$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 planned
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    • 662 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 estimate
      FT  -  662 words
    • 217 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 by
      Reuter  -  217 words
    • 200 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 £11.1
      Reuter  -  200 words
    • 154 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 profit
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    • 69 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 of
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    • 539 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 in
      FT  -  539 words
    • 214 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 petrochemicals
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    • 108 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 per
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    • 104 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 Dec
      Reuter  -  104 words
    • 75 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 approve
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    • 242 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 a
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    • 132 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 yen
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    • 137 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 of
      Reuter  -  137 words
  • Page 5 Advertisements
    • 389 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 London
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  • 1301 6  -  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 is
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  • 1021 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.
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  • 918 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 within
    FT  -  918 words
  • 1153 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 the
    FT  -  1,153 words
  • Page 6 Advertisements
    • 176 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 who
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  • 1958 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
  • INTERNATIONAL STOCK MARKETS
    • 328 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 while
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    • 489 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 Instruments
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    • 495 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 prosKct
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    • 161 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 12
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    • 120 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 J
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  • 775 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 of
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  • 728 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 are
    NYT  -  728 words
  • Page 7 Advertisements
    • 462 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)
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  • COMMODITY REPORTS AND PRICES
    • 1301 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 East
      AFP  -  1,301 words
    • 414 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 announced
      AFP; Reuter  -  414 words
    • 414 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 from
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    • 202 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.
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    • 129 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 line
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    • 98 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 closed
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    • 158 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 kerbs
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    • 169 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 speculative
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    • 140 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 fix
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    • 111 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 to
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    • 94 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.
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    • 72 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 fell
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    • 70 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,
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    • 80 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 £298
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    • 1045 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 these
      FT  -  1,045 words
  • MONEY AND EXCHANGES
    • 264 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
    • 34 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 OB
      34 words
    • 158 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 to
      158 words
    • 117 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 fell
      117 words
    • 57 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
    • 40 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 9222/32
      40 words
    • 381 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 Sweden
      381 words
    • 143 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's
      143 words
  • Page 8 Advertisements
    • 403 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 without
      403 words

  • 1272 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
  • 416 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 held
    Reuter  -  416 words
  • 165 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 port
    UPI  -  165 words
  • Article, Illustration
    243 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
  • 385 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 less
    AFP  -  385 words
  • 191 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 the
    191 words
  • 85 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 China
    Reuter  -  85 words
  • 244 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 to
    UPI  -  244 words
  • 175 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 the
    AP  -  175 words
  • 695 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 CAL
    695 words
  • 215 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
  • Page 9 Advertisements
    • 161 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. Inatruction
      161 words

  • 1236 10  -  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 mark
    NYT  -  1,236 words
  • 1249 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-term
    NYT  -  1,249 words
  • 921 10  -  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 arguing
    FT  -  921 words
  • 775 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 the
    FT  -  775 words
  • 905 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 hotels
    NYT  -  905 words
  • Page 10 Advertisements
    • 52 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 lists
      52 words

  • 292 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 be
    UPI; Reuter  -  292 words
  • 428 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, and
    428 words
  • 231 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 was
    231 words
  • 138 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 and
    138 words
  • 137 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 about
    Reuter  -  137 words
  • 27 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
  • 132 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 and
    132 words
  • 862 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 and
    Reuter  -  862 words
  • Page 11 Advertisements
    • 45 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£l
      45 words

  • 640 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 and
    UPI  -  640 words
  • 209 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 US
    Source: The BP Statistical Review of the World Oil Industry 1976  -  209 words
  • 454 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 developed
    454 words
  • 809 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 the
    809 words
  • 533 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 six
    533 words
  • 379 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 are
    379 words
  • 35 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. UPI
    UPI  -  35 words
  • 705 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 which
    AFT  -  705 words
  • 123 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 ensure
    123 words
  • Page 12 Advertisements
    • 70 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
    • 89 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 .ill
      89 words