The Business Times, 5 December 1977

Microfilm: NL9610
Total Pages: 10
1 10 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, DECEMBER 5, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Hijacked plane crashes
      71 1 Reuter. A MALAYSIAN airliner, flight MH653, carrying 98 people, crashed near Kampong Kupang in south west Johore last night after being hijacked, aviation sources said. The Boeing 737 was hijacked after it left Penang bound for Kuala Lumpur and Singapore. It did not make its scheduled stop
      Reuter.  -  71 words
    • Article
      Lock icon No change
      22 1 Reuter LONDON, Sun. The Bank of England said it kept its minimum lending rate unchanged at 7 per cent. Reuter
      Reuter  -  22 words
    • Article
      Lock icon Korea exports less
      61 1 Reuter SEOUL, Sun. South Korea's exports in November totalled US$94l million (552.2 billion), down from October's $1.09 million but 29.6 per cent higher than the November 1976 total, Commerce and Industry Ministry figures show. Officials said the decline, the first decline this year, was caused by using
      Reuter  -  61 words
    • Article
      Lock icon Canadian bond
      76 1 Reuter OTTAWA, Sun. Finance Minister Jean Chretien said initial details of a new Cs7so million (Ssl.6 billion) Government of Canada bond issue will be made public tomorrow. The issue, dated and delivered Dec 15, will consist of four maturities 7 '/a per cent bonds due June 1, 1980,
      Reuter  -  76 words
    • Article
      Lock icon Loan to Thais
      58 1 UPI KUWAIT, Sun. The Kuwait Fund for Arab Economic Development has granted Thailand a US$2l million (Ssso million) loan to finance a power project. The amount will be repaid over 25 years beginning in 1982, at an interest rate of 4 per cent per year, including one-half
      UPI  -  58 words
    • Article
      Lock icon Pressure on Tokyo
      62 1 Reuter BRUSSELS, Sun. Britain will push its Common Market partners at their summit meeting here tomorrow to renew pressure on Japan to cut its record trade surplus with the nine-nation Community. EEC officials said British Prime Minister James Callaghan has submitted a four-point economic paper to the
      Reuter  -  62 words
    • Article
      Lock icon What p-rice friendship . ..
      26 1 What p-rice friendship UPI MANILA, Sun. The Manila government today agreed to supply Indonesia with 10,000 tonnes of rice at the request of President Sliharto UPI.
      UPI  -  26 words
    • Article
      Lock icon Fishery meeting
      53 1 Reuter. MANILA, Sun. The 10th council meeting of the Southeast Asian Fisheries Development Centre opens here tomorrow to review fisheries plans and activities for the region. The Philippine government is hosting the sixday conference which will bring together fisheries officials and experts of the Philippines, Japan, Malaysia, Singapore,
      Reuter.  -  53 words
    • Article
      Lock icon Time deposit rates
      38 1 Reuter ZURICH, Sun. Switzerland's four major banks decided to raise time deposit rates for customers effective tomorrow by up to half a per cent on periods between three and 11 months, banking sources said. Reuter
      Reuter  -  38 words
    • Article
      Lock icon Freeze or increase?
      51 1 Reuter KUWAIT, Sun. Kuwait's Cabinet today debated its oil price policy for next year, but the chief government spokesman declined to say whether it was in favour of a price increase or a freeze. Kuwait will announce its position in the Organisation of Petroleum Exporting Countries 'Opec)
      Reuter  -  51 words
    • Article
      Lock icon Gold coins up
      35 1 Reuter. JOHANNESBURG, Sun. November overseas krugerrand sales totalled 511,000 coins compared with 405,000 in October and sales this month are even higher, the official seller of the coins, Intergold Corp, said. Reuter.
      Reuter.  -  35 words
  • Article
    TOP TEN STOCKS
    120 1 THE following list of stocks gives the 10 most traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units, closing prices on Friday and the high and low for 1977. Company Turnover Price* High Low '000 Dec 2 1977
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  • LOCAL STOCK INDICES
    • Article
      SINGAPORE
      69 1 Nov 28 Nov 29 Nov 30 Dec 1 Dec 2 ttBT Index: 469.35 468.96 476.92 481.12 479.60 Industrials: 264.91 264.44 264.88 265.68 265.81 Finance: 417.68 415.87 416.06 417.21 415.97 ••Hotels: 169.06 167.00 168.09 168.13 168.75 Properties: 167.57 167.07 167.61 167.26 167.15 Tins: 144.71 144.23 144.23 143.54 142.65 is rubbers:
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    • Article
      MALAYSIA
      84 1 Nov 28 Nov 29 Nov 30 Dec 1 Dec 2 tt BT Index: 581.46 578.37 599.82 605.90 611.74 Industrials: 290.92 291.15 292.19 292.93 293.00 Finance: 363.02 362.35 361.56 361.98 361.36 Hotels: 183.13 182.42 182.62 182.62 182.62 •Properties: 154.80 153.71 155.31 155.68 156.04 Tins: 147.88 147.47 147.33 147.49 147 59
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  • Article, Illustration
    Main currencies call the shots
    553 1  -  LOCAL EASED AGAINST YEN By SOH TIANG KENG AS MIGHT be expected, the Singapore dollar has performed very much In the shadow of the currency giants this year primarily the Japanese yen and the US dollar. The local dollar danced to these two currencies' tune
    553 words
  • Article
    West to blame says Malaysia
    246 1 KUALA LUMPUR, Sun. Malaysian Primary Industries Minister Datuk Musa Hltam today expressed disappointment over the failure of the recent Unctad meeting in Geneva to establish a common fund for commodities. He said the meeting failed because the developed countries could not reach agreement with the
    246 words
  • Article
    Avimo beams brighter still with $2m profit
    1229 1  -  By RONNIE LIM AVIMO Singapore expects to double its earnings this year, partly thanks to laser technology and the expected penetration of the US market. This comes on the back of steady profits which the company, the first overseas manufacturing Subsidiary of the
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  • Article
    HUDC buys private terrace houses
    337 1 THE Housing and Urban Development Company (HUDC) has purchased from the private sector over 100 terrace houses In Paslr Ris Housing Estate. The HUDC chairman Mr. Cheng Tong Fatt said this at the opening of the HUDC chalet complex at East Coast Park. The company
    337 words
  • Article
    Price of gold expected to hover at present levels
    329 1 THE gold price is not expected to breach USSI7O an ounce before the year is out according to dealers contacted yesterday. The average price is likely to remain at about the current US$l6O level, with a minimum of US$l55 and a
    329 words
  • Article
    Apollo hotel on Sentosa certainty at last
    667 1  -  •y JOHN LIM APOLLO Enterprise will invest $7 million in a first class resort hotel on Sentosa island, for completion In three months' time. Most of the expenditure will go towards renovating and refurbishing former British army buildings to create the new "Apollo
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  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      65 1 Wiyfbong MAF A lending hand when Wayfoong Mortgage you need and Finance t (Singapore) Limited it ITIOSt Shaw House. Ground Floor. 364 Orchard Road. Singapore 9. TH: *****7. '47b oo *c\ SEE BACK PAGE INSIDE Leisure/ TV ft Radio Leisure/Crosswords Features International Co. News/ Overseas Local Co. News -P6 -£2
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    • Advertisement
      Page 1 Advertisements Column 2
      104 1 <r+ tw. «V t u?«" M J* fcs Chase makes your travel easier... Chase can supply you with travelers' checks, change Singapore money into any foreign currency you need, and transfer funds to whichever country you require. Chase has a global network of more than 210 branches in over 100
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    • Advertisement
      Page 1 Advertisements Column 3
      128 1 |@"}&[/^\{`):>?]~\*'!^$=<_\<'(% JAL FLIGHT 712: THE TOKYO EXPRESS Non-stop to Tokyo, same-day connections toflieUJS. Canada. m NEW YORK VANCOUVER *WSAN FRANCISCO^ 1 W ANGELES I HONOLULU J v A Zee **vy U ISWGAPOfIE MEXICO CITY Only on JAL can you non-stop to Tokyo, then make 4 convenient connections to U.S. and
      128 words
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  • Article
    OBJECT LESSONS
    649 2 THE time has come for the great Western powers to show their economic teeth and In two major contests with Asia last week they seem to have emerged the decisive winners. The two contests of course were the' US vs Japan exporters heavyweight battle and the marathon European
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  • REVIEWS
    • Article
      Lock icon Recording firms roll over Beethoven
      1082 2  -  t MUSIC J Py JOHN ROCKWELL NYT. NEW YORK: The symphony is the basic form of Western orchestral music. But like all forms It is a generalised, ex post facto codification of what composers actually did, rather than a set of rules that told them
      NYT.  -  1,082 words
    • Article, Illustration
      Lock icon Mature Baez offers no compromise
      1020 2  -  By RUTH GRUBER UPI. BRUSSELS: Joan Baez is a living legend, and like most legends, she almost seems too good to be true. No more the long-haired, loud-voiced activist of can it be? nearly 20 years ago. Baez at 36 is a mature artist who
      UPI.  -  1,020 words
    • Article
      SAITO TO PLAY
      96 2 MR. Hidemi Saito, the renowned Japanese organist, will perform on the specially imported Pulse Analogue Synthesizer System (PASS) polyphonic synthesizer organ at the National Theatre on Dec 7. Tickets are available at the Yamaha Music Schools at Plaza Singapura and Marine Parade. Mr. Saito is wellknown for
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    • Article
      Lock icon Getting music to sound right
      871 2  -  By HANS FANTEL NYT NEW YORK: Our usual concerns with audio more often focus on products than principles, and It Is therefore all too easy to lose sight of the first requirement of high fidelity something to be faithful to. Sound, after all. Is not
      NYT  -  871 words
    • Article
      Lock icon Hongkong joins Chinese art markets
      564 2  -  By FOX BUTTERFIELD NYT. HONGKONG: Hongkong's emergence as one of the world's premier markets for Chinese art was confirmed last week with a U552.23 million (555.3 million) auction of Chinese porcelain here by Sotheby Parke Bernet. A Chinese shipowner, T.Y. Chao, chairman of Wah Kwong
      NYT.  -  564 words
    • Article, Illustration
      ONE MAN'S WEEK
      2120 3  -  By JOSEPH NAKHOSTEEN Mr. Nakhosteen is president of United Chase Merchant Bankers Ltd. MONDAY: It Is Monday morning and back to work. I begin the day with the Straits Times and a light breakfast: croissants, coffee and fruit, and then head down town In my car. Along
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    • Article
      Lock icon From fashion editor to top exec
      827 3  -  By KATHERINE WHITEHORN OFNS j LONDON: The man who ln- vented drip-dry hair, who liberated Western women r from those rigid rcfllers, that fearful teasing, those Iron lacquer sprays was Vidal Sassoon, the British barber. And if too many smalltown hairdressers still put the
      OFNS  -  827 words
    • Article, Illustration
      Lock icon Rattigan: Master of the well-made play
      739 3  -  By LOCIS CALTA NYT. TERENCE Mervyn Rattigan, one of England's most prolific and successful playwrights, died on Wednesday at his home in Bermuda, according to family friends. He was 86 years old and had been suffering from bone cancer. Master of what was called
      NYT.  -  739 words
    • Article
      Illusions in food
      475 3  -  By CRAIG CLAIBORNE NEW YORK: When an Individual dines, he brings to the table an assortment of senses, other than taste, that bear directly on how Intensely he enjoys his food. There Is the sense of smell, of course. And adults as well as children take pleasure
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  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      40 2 SEE PAGE 10 »\v s s X arc S* i m m I; f Xf 1 01 «V> BALLY OF SWITZERLAND /i /< 1 h TAILORS OUTFITTERS STORE HIGH ST CENTRE •OCEAN BUtLWNG SUPREME HOUSE GOODWOOD, HIUON, RAFFLES HOTELS COLD STORAGE
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      249 2 i RADIO TV SINGAPORE 5 3.00 P.M. Opening followed by Kudumba Malar (Tamil Repeat) 3.30 Diary Of Events (Tamil) 3.35 Afternoon Matinee It's Never Too Late (Part 1) 4.25 Intermission 6.00 Opening followed by Accent On Youth 77 (Repeat) 6.30 News In Brief 6.35 Marine Boy 7.00 A Dolphin's Story
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      84 2 THE WEATHER WEATHER report for 24 hours prior to 7.39}pcn on Doc 4 at Singapore airport. Maximum Temperature .28.1 C Associated Humidity 83 Minimum Temperature 23.5 C Associated Humidity 100 Hours of Sunshine 2.75 Rainfall in Millimetres 5.7 Total Rainfall for the Month 20^3 Total Rainy Days for the Month
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  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      147 3 I I i I I r r We are unique. Equipped with the latest in technology and the most modern facilities in Singapore, we are able to provide first-class service to shipyards, shipowners and other marine, industrial and petro-chemical industries. Our professional expertise ensures completion of jobs in the shortest
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  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      511 3 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS DOWN 3 Name In proper alphabetical order (5) 8 Heathen father backing a horse (5) 10 Some racing driver or cross-country runner (5) 11 Punter's pile (3) 12 Its flow Is right In volume (5) 13 This one may never be solved (7) 15 Riotous
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  • Article, Illustration
    Industrial programmes humming along fine in the Philippines
    1979 4  -  By JOHN TAN THIS YEAR, the normally cheerful people of the Philippines appear to be smiling a little more. Five years after martial law was first imposed with a declared objective of speeding up economic development, notable advances have been recorded in
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  • Article
    Lock icon HELP FOR THE SMALL MAN
    744 4 NYT PRINCETON (Indiana): On the surface, the themes are heartwarming and inspiring. A young executive takes command of an ageing small refinery that has been more or less shut down for eight years and. after a year of hard work, seems to be making a
    NYT  -  744 words
  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      330 4 The first new idea in encyclopaedias in over 200years-Britannka 3 Britannica 3 does what no other That's what makes it the most useable reference work encyclopaedia has ever done before: It serves ever developed. That's why Britannica 3 the three basic needs of users in three distinct ways. (see below)
      330 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Accord on new plan to save company
      156 5 EUROPEAN COMPANIES Reuter. BANKS have virtually agreed to the new rescue plan for Generale Immobiliare, subject to flnallsation of precise details and appro valat board level. Company sources said their agreement covers a number of major points, lncluding plans to cede property assets
      Reuter.  -  156 words
    • Article
      Lock icon Inchcape share offer lapses
      96 5 Reuter THE board of Inchcape and Co said that its offer for Crane Fruehauf ordinary not already owned has lapsed. Acceptances received by 3 pm last Friday amounted to 1.496,771 shares or 9.7 per cent and Inchcape already owned 1,179,500 or 7.6 per cent on Nov
      Reuter  -  96 words
    • Article
      Lock icon British bond market waits on news from pay front
      316 5 Reuter. THE UK Government bond market remains vulnerable to news on the pay front and is still uncertain over official monetary policy. Market analysts said the Bank of England's stated opposition to any further rise In minimum lending rate, in an
      Reuter.  -  316 words
    • Article
      Lock icon Ericsson profits up
      125 5 Reuter INCOME before foreign exchange adjustments at LM Ericsson jumped to U*****.3 million for the nine months ended Sept 30, 1977 from $39.9 million previously. Sales amounted to $1.11 billion dlrs (1.06 billion). Income after foreign exchange adjustments and before special adjustments and taxes was $89.6 million
      Reuter  -  125 words
    • Article
      Lock icon Exploratior licences for three firms
      137 5 Reuter UK SECRETARY of State for Energy Tony Benn has awarded 12 onshore oil and gas exploration licences to three applicants. The Department of Energy said Shell UK received six licences covering 2,669 sq km, Clyde Petroleum four licences for 275 sq km and British
      Reuter  -  137 words
    • Article
      Lock icon BSC cuts capital spending
      91 5 Reuter THE British Steel Corporation has reduced its capital spending programme in the current year to the end of March 1978 to about £550 million from C 650 million, an Industry Department spokesman said. The cutback has been made In order to keep the corporation's outgoings
      Reuter  -  91 words
    • Article
      Lock icon Banks in US not complying with survey
      404 5 NORTH AMERICAN COMPANIES Washington Star A MAJORITY of US banks are, not complying with a Bert Lance-lnsplred survey to determine the size and extent of their overdrafts and insider loans. Federal Deposit Insurance Corp, which is making the survey for all three federal
      Washington Star  -  404 words
    • Article
      Lock icon AT & T probe begins
      60 5 AT T probe begins Reuter THE US Federal Communications Commission has started an Investigation of American Telephone and Telegraph Corp tariffs offerings facilities to other common carriers, International record carriers, specialized and domestic satellite carriers. The FCC said ATT will have the burden of proving the tariffs are Just and
      Reuter  -  60 words
    • Article
      Lock icon SEC to delay decision on ruling
      154 5 Reuter. US Securities and Exchange Commission chairman Harold Williams said prior to an address at Boca Raton, Florida, the commission will delay Its decision on whether to eliminate off-the-board trading rules. The commission previously said it will decide prior to Jan 1. 1978 whether
      Reuter.  -  154 words
    • Article
      Lock icon U. Pacific
      53 5 Reuter. UNION Pacific Corp has Increased the quarterly dividend to 50 cents a share from 42't cents. It will be paid on Jan 3, 1978 to stockholders on record by Dec 12. The Increase reflects a strong 1977 earnings performance and the board's confidence abput long-term prospects, the
      Reuter.  -  53 words
    • Article
      I. Harvester
      28 5 INTERNATIONAL Harvester Co has raised the quarterly dividend to 52Vi cents from 46'/« cents, pavable on Jan 16 to stockholders on Its record on Dec 16.
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    • Article
      Lock icon GM chairman hopeful about car industry
      392 5 Reuter. GENERAL Motors Corp chairman Thomas Murphy has said In his year-end statement that he was optimistic about the prospects for the motor vehicle industry In 1978 and expects the US real gross national product growth to rise be--197?" 4-5 10 5 P<fr cent
      Reuter.  -  392 words
    • Article
      Lock icon National securities market system
      115 5 Reuter THE new chairman of the Securities Industry Association has said that the development of a national market system will be his number one priority in 1978. Robert Baldwin, who also heads Morgan Stanley and Co, said the association should continue to work on the intermarket
      Reuter  -  115 words
    • Article
      Lock icon Natomas oil well flowing
      88 5 Reuter NATOMAS Co s Pertamlna Ilapco Kartlnl Number Two well In the south-east Sumatra contract area of Indonesia flowed at 2,944 barrels of oil a day. Kartlnl Number Two Is a confirmation test to the Kartlnl Number One discovery well. Natomas said. Natomas holds a 52.7
      Reuter  -  88 words
  • OVERSEAS
    • Article
      DROP IN JOBLESS AUGURS WELL
      105 5 WASHINGTON, Sun. Labour statistics show "the economy is doing very well, except for the unemployment rate," said Labour statistics commissioner Julius Shlskin at a congressional hearing. Meanwhile, the Labour Department said November unemployment rate fell to 6.9 per cent from 7 per cent in October
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    • Article
      Britain seeks $8.5b more for spending
      713 5 LONDON, Sun. The British government will seek formal parliamentary approval for annual supplementary spending estimates amounting to £2 billion (SsB.s billion) In 1977/78. The Treasury said £1.4 billion is accounted for by the rise in pay and prices since early 1977 when the first
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    • Article
      DAILY AIRCRAFT MOVEMENTS
      597 5 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKG SAS SK097 0750 CPH/KHI/BKK MAS MH682 0810 KCH GIA GA980 1030 HLP CPA CX710 1035 HLP THAI TG423 1035 BKK SIA SQ209 1045 HLP GIA GA944 1055 PKU GIA GA908 1100 MES PAL PR501 1125 MNL
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    • Article
      IMF reports import drop
      291 5 WASHINGTON, Sun. The International Monetary Fund said imports of the industrialised world fell to U5555.69 billion (*****.4 billion) in September from 556.51 billion in August, the third consecutive monthly decline. The IMF, in its International Financial Statistics, said Japanese imports fell to *5.73 billion in September
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  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      339 5 FROM FEDERAL PUBLICATIONS a step-by-step guide An easy-to-understand yet fully rewarding book on flower arrangement. Floral Creations, with its unusually lucid text and thoughtful illustrations, could make an expert flower arranger of even the veriest novice. The joy of this book, however, is that even the most advanced student can
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  • COMPANY NEWS
  • Article
    Share Informatin for the week
    2550 6 invim Hifk Low Company Last Sal* <£• Or'. N«t Waok D»r Dtv Y'ld P/E C*yt WMk Vol WMk <'•*•) High Low SECTION ONE INDUSTRIALS 154 204 116 246 88* 205 169 259 422 146 134 Acma 165 Alcom 58 Allied Choc 212 Bata 57* Ben
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  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      110 6 m m em sinGapura FORUM HOTEL Onwon <H Inki Continental Ho4«4* 585 Orchard Road, S'pore 9. Tel: *****2 Pebble Bar Experience the unique expression of Tanla Great Sound Big Show You'll love the dynamic and versatile Tania For memorable yester hits and todav's favourites. J Only happens at the Pebble
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      Page 6 Advertisements Column 2
      139 6 SJjMbiilio iWcteil y SINGAPORE 405/407 Havelock Road, S'pore 3. Tel: *****1 lon Bar Where beautiful things happen come around to lon Bar for a swinging get together where The Rosebuds Band, Miss Mareeka (from Philippine), Sonny Bala The New Moonglows, and The Hl-Jacks treat you to a lovely evening of
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      Page 6 Advertisements Column 3
      152 6 Oraohid inn 214 Dunearn Road, S'pore 11. Tel: *****2 Moby Dick (24 Hr. Coffee House) Whet your appetite with our wide variety of Inter-Contlnental food laid on our buffet lunch table dally from 12.00 3.00 p.m. Weekdays: Adults $8.00 3% Children $6.00 3% Weekends: Adults $10.00 3% Children $7.00 3%
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      Page 6 Advertisements Column 4
      124 6 Cockpit Pjotel 6/7 Oxley RW Penang Road, S'pore 9 Tel: *****1 Dragon Palace Restaurant Experienced. Hong Kong chefs to bring you the best in Cantonese cuisine. Economy menus for lunch are prepared to cater for 4, 6 or 8 persons. a truly grand function, let our special menus reflect on
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    • Advertisement
      Page 6 Advertisements Column 5
      122 6 SMGAPORE HLTDN 581 Orchard Road, S'pore 9. Tel: *****3 Harbour Grill On the second floor of the Hilton with murals depicting Singapore Harbour scenes in the 1850's. The Harbour Grill is ideal for relaxed dining In true old world atmosphere. A cuisne relished by the gourmet and a wine cellar
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  • INTERNATIONAL STOCKS MARKETS
    • Article
      Tokyo
      404 7 TOKYO: Share prices closed higher in active trading on Saturday, dealers said. The Dow Jones average rose 11.04 to 4,950.74 with a volume of 170 million shares, while the New index closed at 388.77, up 1.04. The second market continued to advance with a volume four million shares. DBC
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    • Article
      Amsterdam
      236 7 AMSTERDAM: The stock market closed firmer on Friday after a barely steady opening, dealers said. Dutch International* were mixed with Royal Dutch and Hoogovens lower DEC n Fls 4-/-Ahold 107 00 +0.5 Akzo 23.30 +0.2 Algbank 326 00 1 AMEV 78 00 18 Am fas 97.50 +2.3 Amrot Bank
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    • Article
      Brussels
      124 7 BRUSSELS: Share prices closed Friday mixed with the majority lower In fairly active trading, bourse sources said. Soflu, Cobepa. Hainaut-Sam-bre, Cometra Andvzro leelectricals, Aaturienne, Vieille Montague, Clabecq, GB and Moaane all fell. DEC M Frs FORWARD MARKET Acec 280 unch Arbed 1815 15 Astur 510 -18 Brascan 492 19
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    • Article
      Milan
      144 7 MILAN: Stocks fell to a 20-year low on Friday In slightly more active trading after Thursday's closure due to strike, bourse sources said. Generate Immobiliare recovered from recent losses but all other Industrials and financial leaders were lower. Insurances and banks also fell. DEC 02 Lire Anic 130 -6
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    • Article
      Frankfurt
      265 7 FRANKFURT: The market on Friday extended Thursday's gains with the strength of the mark encouraging foreign Investors to buy German shares, dealers said. Stocks traditionally favoured by foreign operators were heavily traded, with Deutsche Bank rising two marks. Manneamann 2.30 Siemens 3.10 GHH advanced four marks but otherwise these
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    • Article
      Paris
      317 7 PARIS: Share prices fell on Friday after a union decision to call bourse staff to a meeting today to consider how to press their pay and Job security demands, dealers said. As the meeting will take place during normal bourse trading hours, there will be no quotations today union
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    • Article
      Zurich
      199 7 ZURICH; Prices closed Friday slightly higher in fairly active trading, dealers said. DEC 02 Francs Actions Sulsses 278 unch Alusulsse Br 1100 +5 Alusulsse Reg 600 +5 Brown Boverl Br. 1655 unch ClbaGelgyBr 1280 -10 Ctba Geigy PC 1000 unch CibaGetgyReg 636 •2 Credit Suisse Br 2280 -10 Credit
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    • Article
      Toronto
      210 7 TORONTO: Share prices on Friday firmed In the busiest session since Nov 23, 1964. Volume totalled 8,050,359 shares, with a value of $60 million. Thursday's volume was 6,505.531 shares. DEC 02 C* Ablttbl 10% Alcan 25* unch Algoma 13% Bank Mont 17* Bank Nova Scotia Bell Tel 50 unch
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    • Article
      Jo'burg
      324 7 JOHANNESBURG: Oo Id shares were mostly lower, after initial easiness continued on general lack of support, dealers said on Friday. DEC 13 Rand 1 INDUSTRIALS A Alpha 122 4-1 Abercom 205 2 AE And CI 215 ♦S AMIC 860 Barlows 342 4 Cg Sugar CNA 015 1408 ♦5 Currte
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    • Article
      New York
      1034 7 NEW YORK: Stocks, higher 1 and lower at times during the session, finished mixed on Friday In quiet trading. Sources said Investors were encouraged by Friday's report of a drop In November unemployment to 6.9 per cent from 7 per cent In October and A 52.4 billion fall
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    • Article
      Indices
      67 7 FINANCIAL TIMES INDUSTRIALS Friday 486 7 Thurssday 479.8 Week Ago 480.5 DOW JONES AVERAGE INDUSTRIALS Friday < 823 98 Thursday 825.71 Week Ago 835.78 LONDON DOLLAR PREMIUM Friday 97% to 97* Thursday 98 to 98* H.fc. HANG SENG Friday .421.72 Thursday 420 57 Week Ago 425 51 SYDNEY INDUSTRIALS
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    • Article
      CHICAGO BOARD OPTIONS
      1240 7 Oil Dec 2 SSSSSWS contracts on Thursday. ««,*K>e OPTION JAN APL JLY STOCK Alcoa 40 UNTRD UNTRD 431/4 Alcoa 45 1 21/8 3 431/4 43 1/4 Alcoa SO 1/8 3/4 NOL Alcoa 60 UNTRD UNTRD NOL 43 1/4 Am Tel 55 4 3/4 UNTRD 51/8 59 1/4
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  • Article
    Lock icon Dow takes a sharp fall
    695 7 NYT THE Dow Jones Industrial average dropped 20.44 points last week, with the gig tumble coming on Tuesday's 12-polnt decline. The blue-chip Indicator finished the week at 823.98. By contrast, the American stock exchanges' market value index, reflecting strength mainly In natural resource issues, closed
    NYT  -  695 words
  • Article
    Lock icon Hopes dashed but money back
    316 7 NYT "HALLELUJAH! Money, money, money all you want for only a *10 bill. We're serious. This Is not a Joke," promised an advertisement by a company called Cashtlme that was answered by more than 6,000 people throughout the country. They will be refunded the more
    NYT  -  316 words
  • Article
    Volkswagen
    71 7 VOLKSWAQENWERK Is considering a rise In Its 900 million mark share capital next year but nothing has been decided yet about the timing, amount or method by which It would be carried out. A VW spokesman said reports that VW is planning a 300 million capital rise to 1.2
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      370 7 01 s§ :r\ mocco SING APOR E Tanglin Circus, S'pore 10. Tel: *****1 Brasserie La Rotonde Speciality de Cafe Expect the unexpected! Daily specials that are as fresh as a new day Today's special could be meat. Or seafood Even hors d'oeuvres. But whatever it is, it's fresh. And prepared
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      0 7 |+:{{~$)]!_?>%;!\]~?{(&'$`<\!_+
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  • COMMODITY REPORTS AND PRICES
    • Article
      FOREIGN RUBBER MARTS
      233 8 LONDON, Sun. Terminal rubber closed at around the day's highs after a late session rally on Jobber and weekend shortcovering on Friday. But prices still finished down from Thursday by 0.25 pence to 0.05 pence per kilo. The official tone was "quiet." Turnover totalled 182 lots of
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    • Article
      Straits tin
      127 8 THE Straits tin price In Penang on Saturday was down $15 to $1,760 on an official offering down 29 ton- nes to 196 tonnes. In LONDON on Friday, tin on the day gained £20 for Cash and lost £45 for Three Months Standard while high grade rose £10
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    • Article
      Produce exchange
      243 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY Coconut Oil. Bulk $83 sellers, old drum $88 sellers, new drum $93 sellers Copra Mixed (loose) UK/Cont. *50 •buyers Pepper Muntok ASTA white f.o.b. 100% NLW *447 v, sellers, Sarawak white f o b. 96% NLW *427-.i
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    • Article
      Palm oil
      61 8 C.I.F N European ports prices quoted In London on Friday In US dollars per ton. Friday Previous .Malaysia 5% ffa bulk /an 4«0slr 455 sir December unch 490 pd January 480 slr/475 pd 470/472.50 pd Feb 480 sir/ 485 pd 457 50 pd Mch 467 50 sir 455/480/457Vi
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    • Article
      Lead
      88 8 LONDON, Sun. Lead ended the day £5.50 per 2onne higher for Cash and £2.50 per tonne up for Three Months on Friday. The market was very steady with trade buying Hashing Three Months 'from £364 in the momlng premarket up to £3.69 per «tonne on the afternoon kerb. Also,
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    • Article
      Copper
      277 8 LONDON, Sun. .Copper wlrebars on the day showed all round losses of £0.5 per tonne on Friday. The steady New York market gave support during the afternoon ring but a softer tendency developed on the later kerb under sporadic profittaking. The early morning pre-market was higher at up to
      277 words
    • Article
      Gold
      279 8 THE kllobar In Singapore opened at $12,112. Immediately after opening the market firmed up to $12,127, and hovered around this level throughout the session. The market closed at $12,123. In the London market the metal opened at U*****.20/50 and closed at U*****.45/65. Source: Singmu Retail prices per tael quoted
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    • Article
      Silver
      130 8 LONDON, Sun. Spot silver bullion closed above the day's lows at 257.80/ 258.80 pence an ounce after 257.95 pence at the fix and 227.50/ 258.50 In pre-fixing trading, dealers said on Friday. Trading was quiet at the lower levels established after the sharp late fall in New York on
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    • Article
      Zinc
      37 8 LONDON, Sun. Zinc closed £1.75 per tonne down for Cash and £1.50 higher for Three Months on Frlday. Dealers said the market remained very quiet throughout the day on lack of news or activity in physicals.
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    • Article
      Coffee
      361 8 LONDON, Sun. Terminal coffee closed the morning quietly steady £18 lower to £10 higher on Friday. Volume was 611 lots which Included three options and around 120 lots of self traded. Dealers said local dealer selling in a thin and featureless market had more of a psychological Impact and
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    • Article
      Rice
      397 8 BANGKOK, Sun. The rice market last week remained quiet, trade sources said. They said no new business has been reported in the government or private sectors following the appointment of the new cabinet two weeks ago. Traders could not make any new offer for rice exports since the government
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    • Article
      Sugar
      265 8 LONDON, Sun. Terminal sugar sold off In relatively light afternoon trading to close £0.80 down from Thursday to £0.05 up on Friday. Turnover totalled 3826 lots Including 26 further options and a large proportion of self-trading. Dealers attributed the decline to weekend profittaking and general booksquaring although there may
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    • Article
      Cocoa
      187 8 LONDON, Sun. Cocoa ended a quiet day up £9 per tonne to unchanged on Friday. Volume totalled only 3,194 lots, including 1,612 self trades. Futures moved inside a narrow £19 range all day gaining on light shortcovering ahead of the weekend, traders said. Market talk circulated that Ohana had
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    • Article
      Trading is quiet at produce market
      584 8 TRADING was quiet at the Singapore produce market last week. Both buyers and sellers were generally reserved for want of a pro(>er Indication from the eadlng world markets. This was especially so for coffee. In the case of copra, the tight local supply situation
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    • Article
      Wheat
      329 8 CHICAGO, Sun. Wheat futures hovered around the previous close at the opening on Friday with prices ranging from 1/4 cent higher to 1-3/4 cent a bushel lower. At the close, wheat futures closed with net losses of 1% to four cents a bushel. In the pit, traders said the
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    • Article
      Soybean
      298 8 CHICAGO, Sun. Soybean futures edged seven to 3-1/2 cents a bushel higher on Friday morning on a combination of Commission House demand and spillover buying support from soybean products futures, traders said. In the pit action, an Illinois elevator firm near the opening bought an estimated one million bushels
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    • MONEY AND EXCHANGES
      • Article
        Singapore Market
        151 8 THE US unit opened steady last week to firm from $2.3630 to $2.3790 In the Singapore forex market following remarks by Mr. Burns that the recent fall of the dollar was troublesome. The dollar strengthened from a low of $2.2160 to $2.2320 against the West German mark However
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      • Article
        Asian $ rates
        254 8 Asian rates SHORT dates and terms remained fairly steady throughout last week. Rollover business tended to give a general firm undertone to the rates money supply figures declined, with Ml down $2.4 billion and M 2 down $0.7 billion. Loans rose 295 million on Thursday to create a softer outlook
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      • Article
        Lock icon Discount market
        285 8 Source: International Discount Company Limited THE money market remained relatively easy during the last week. Interbank Overnight funds which were generally traded within the range of 3 to 5 per cent, fell to a low of negative 1/8 per cent on Wednesday, being banks liabilities base adjustment day.
        Source: International Discount Company Limited  -  285 words
      • Article
        Short term money
        47 8 FOR the week ended Friday Dec 2 the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND 1* per cent to per cent GENERAL FUNDS 2 per cent to 4 per cent. Movements of funds totalled $462 million..
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      • Article
        New York
        333 8 NEW YORK, Sun. The dollar closed weaker on Friday, slipping against major currencies once again, although quotes were generally above the opening levels, dealers said. Trading remained very quiet and rumours of a possible realignment of European Joint float currencies had little impact on the market, they said.
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      • Article
        Euro $ rates
        132 8 Euro rates LONDON, Sun. Trading in Eurodollar deposits was quiet with most rates showing little movement from openings, dealers said on Friday. Periods opened generally 1/16 point lower on the larger than anticipated decline In US money supply figures. One month was ad4 us ted higher because of a 'rlday
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      • Article
        Lock icon Money market
        85 8 Source: Astley and Pearce THE overnight market was relatively thin and sluggish with closing rates fluctuating around 4 1/4 3 1/4 per cent last week. The highest offer seen In the week was 6 per cent, the result of possible market manipulation. Keen taking interests were seen In
        Source: Astley and Pearce  -  85 words
      • Article
        Zurich
        55 8 ZURICH exchanges closing rates on Dec 2. US 2.1363 1373 Stg 3.8864 8902 Can 1.9261 9276 Dmk 96.78 87 Dfl 89.35 55 Ffr 44.09 13 Bfr 6.1475—1550 Dkr 34.88 91 Nkr. 39.74 76 Skr 44.51-54 Lit 0.2433 2435 Aus Sch 13.53Vfc 55 Port 5.24 26% Spain 2.59% —48 Arg
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      • Article
        Minimum lending rates
        58 8 ACBC 1 tk 1 Atgemen* Bank 7 Citibank 7 1 Bangkok Bank 7 HSBC i 1 Bank of America 7 Indoauez 7 Bank at China 7 Bank of Tokyo 7 Malayan Banking Mitaui Bank 7 7 BankNagara Indonesia 7 OCBC OUB 7 Chartered Bank UCB 7 Chaae
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      • Article
        London
        311 8 LONDON, Sun. The dollar weakened significantly against major currencies on Friday, except the yen, where the fall was more restrained, as operators continued to take positions against the dollar, dealers said. They noted operators took positions against Scandinavian currencies, the Belgian franc and the lira In both spot and
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      • Article
        Frankfurt
        31 8 FRANKFURT exchanges closing rates on Dec 2 US 2.2058/88 Can 1.9900/20 Ste 4.013/018 Dfl 92.54/84 Sfr 103.24/54 Lit 2.514/519 Ffr 45.45/88 Yen 0.9110/20 Bfr Con 6.348/358 BfrFln 6.33/54 Nkr 4.102/12
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      Page 8 Advertisements Column 1
      167 8 MONTHLY ECONOMIC REPORTS With monthly politico! supplement for UP-TO-DATE HANDY REFERENCE ASM RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide to the latest developments that have taken ploce in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin is divided
      167 words
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  • MONDAY SPORTS
    • Article, Illustration
      Lock icon Fear has no place in the nature of Joe Guest
      1378 9  -  By HUGH McILVANNEY The Observer. BRAVE men are plentiful in the jockeys' room at National Hunt race meetings but most of them find that their courage drains away with their youth. The outstanding exception of recent times is Joe Guest,
      The Observer.  -  1,378 words
    • Article, Illustration
      Lock icon DOWN FROM CLOUD NINE ...
      1319 9  - DOWN FROM CLOUD NINE By PAUL MARTIN The Observer. LONDON Sun. Mr Packer's elation at the High Court Judgment in his favour, and the cricket authorities' mournful bewailment of their plight, are fully understandable reactions to what was after all a rancorous and expensive trial. But when Mr Packer descends
      The Observer.  -  1,319 words
    • Article, Illustration
      World cup duo are confident
      568 9  -  By ERNEST FRIDA SINGAPORE'S World Cup representatives Llm Klan Tlong and Lim Swee Wah are confident of finishing within the first 25 in the 50natlon golf championship at the Wack Wack Golf and Country Club. Manila from Dec 8 to 11. The pair said before
      568 words
    • Article
      Lock icon World cup hockey
      99 9 AFP BRUSSELS, Sub. The International Hockey Federation meeting here today split competing nations for the world champions hip* Argentina next March into two groups. Italy have been invited to take the place of the Soviet Union who are unable to compete in the event, j Group A
      AFP  -  99 words
    • Article
      Lock icon The time has come to draw the stumps
      449 9 The Observer. LONDON, Sun. The judgment i n Packer's case is total victory for the superstars. Whether it is a loss for cricket depends on whether both sides will compromise. The TCCB and ICC can appeal, but to continue the legal wrangle
      The Observer.  -  449 words
  • Page 9 Advertisements
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      162 9 o the 8 Steps to Health and Peace by Richard L. Hittleman (author of "yoga 28 day EXERCISE PLAN) Richard Hittiaman, tha most widaiy-raad author in tha world on tha aubjact of yoga, prasants In thia book hla moat complata and in-dapth atudy of tha subjact to data. Instruction la
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  • Article
    Lock icon Carter's approach basically correct
    1239 10 Agencies. WASHINGTON, Sun. The Carter Administration's basic thrust in trying to cut Japan's US$B billion (Ssl9 billion) trade surplus with the United States is clearly right, the Washington Post said over the weekend. But it questioned whether the US was asking for the right things from
    Agencies.  -  1,239 words
  • Article
    Lock icon Sumitomo bank takes over 19 bank offices
    185 10 NYT TOKYO, Sun. A major Osaka-based Japanese Bank. Sumitomo, has said that It would take over 19 branch offices of the Bank of California for the cost of US$l9.9 million (SS47 million). The deal, sanctioned by the California state government, will be signed
    NYT  -  185 words
  • Article
    Lock icon Foreign trawlers off US coast dwindle
    379 10 AP. WASHINGTON, Sun. The number of foreign fishing vessels plying US coastal waters has been reduced by nearly twothirds since the US placed severe restrictions on their operations within 320 km of its coastline. But domestic fishermen, many of whom rejoiced over the restrictions
    AP.  -  379 words
  • Article
    Mohfeelip wins Fijian tyre contract
    296 10 I.OCAL firm has shown the way for trading companies to take advantage of overseas opportunities with its recent success in securing a contract in Fiji. The firm, Mohfeelip, which had been making strenuous efforts to break into the Fijian market, was -ecently awarded a US$llB,7OO
    296 words
  • Article
    PLEDGE TO VOTE SINGAPORE AS VENUE
    136 10 THE fifth Philippine Advertising Congress (PAC) has pledged to vote for Singapore as the venue for 12th Asian Advertising Congress In 1980. The congress committed Itself at Its plenary session on Oct 28 in Bagulo City, said Mr Patrick Mowe, president of the Singapore
    136 words
  • Article
    Lock icon MANILA WILL NEED OVERSEAS CAPITAL
    370 10 Reuter. TOKYO. Sun. A'World Bank consultative group agrees the Philippines would need substantial capital from abroad to achieve the country's new five-year development plan starting next year. The Consultative Group for the Philippines, chaired by the bank, found that medium and long-term loans totalling about
    Reuter.  -  370 words
  • Article
    Lock icon Li's French visit
    80 10 AFP. PARIS, Sun. Chinese Foreign Trade Minister Li Chang arrives here tomorrow for an eight-day official visit at the invitation of his French counterpart Andre Rossi. Officials stressed that the visit would explore ways of improving France's trade position with China, which has dropped off considerably In
    AFP.  -  80 words
  • Article
    Mystery of the seven resignations from Magnum Corporation
    533 10 KUALA LUMPUR, Sun. The remaining directors of Magnum Corporation still do not know why their former chairman, Dato Khoo Kay Peng, and six other members of the board resigned Just over two weeks ago. Replying to a request from the Stock Exchange
    533 words
  • Article
    Orient Leasing sees market revival
    464 10 THE LEASING market is having a hard time, but a top executive from Japan's largest leasing company Is confident that the market will bounce back on its feet. Mr. Yoshlhiko Mlyauchl, senior managing director of Orient Leasing Company of Japan (OLC), said his company plans
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  • Article
    Lock icon Way paved for EEC to sign fibre accord
    738 10 Reuter BRUSSELS, Sun. The European Economic Community and Hongkong reached agreement early yesterday on limiting the colony's textile exports to the nine, negotiation sources said. After seven weeks of negotiations, the community has forced Hongkong. Its largest supplier, to agree to cut
    Reuter  -  738 words
  • Article
    Lock icon Asean progress kindles Common Mart interest
    195 10 Reuter. KUALA LUMPUR, Sun. The European Economic Community is convinced Asean will play a vital role in the economic development of this region. EEC Commissioner for External Affairs Wllhelm Haferkamp who Is leading a six-member EEC delegation here, also said Asean's progress had "aroused
    Reuter.  -  195 words
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      154 10 If you know why, you would not resist an attractive offer of land in Canada. City of LongueuS is 19.3 sq. miles 60% land developed population 130,000 good fink with highway substations. Land offered for sale is Cadestra 54-27 n the City of LongueuO situated 3 miles radius from Longueuil
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      3 10 SEE PAGE 4
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      Page 10 Advertisements Column 3
      58 10 MITSUBISHI HIGH SPEED DIESEL ENGINES DEPENDABLE, DURABLE ECONOMICAL WM f m SI6NTK for generating sets for marine propulsion units, ABS classed •250 to 1500 HP full technical spares and seivice back-up f Please contact: INDUSTRIES, LTD. of Japan MOUSDOAL A6MCULTURAL OBTMBUTVM CO. PTE LTD (A member of the Inchcape Group)
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