The Business Times, 12 December 1977
1977-12-12
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The Business Times
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Title Section9 1977-12-12 1 BUSINESS TIMES M.C.<P) 300/1/77 MONDAY, DECEMBER 12, 1977 50CENTS9 words
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NEWS IN BRIEW
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Article81 1977-12-12 1 AFP LONDON, Sun. China is now making big sugar purchases in the Western countries, trade sources said. Dealers estimated that these purchases reached between 150,000 and 200,000 tonnes in the last two weeks alone. Other deals were said to be under negotiation for delivery, like the firstAFP - 81 words
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Article58 1977-12-12 1 Reuter HONGKONG, Sun. Hongkong exported HK528.37 billion (5514.2 billion) worth of goods during the first ten months of this year, 6.1 per cent more than the same period last year. Imports during the same period rose by 11.1 per cent to $34.46 billion while re-exports also roseReuter - 58 words
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Article46 1977-12-12 1 KUALA LUMPUR, Sun. The Deputy Minister of Trade and Industry, Datuk Mohamed Rahmat, said today no one can increase the price of vehicles without his ministry's approval. Datuk Rahmat said this after touring the Kuala Lumpur Motor Show at the Cangkat Pavilion here.46 words
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Article69 1977-12-12 1 Reuter MANILA, Sun. The Philippines will fully enter the nuclear age In 1983 with the coming onstream of the Bataan nuclear power plant. The Philippines Atomic Energy Commissioner Llbtado Ibe said today the completion of the plant on the Bataan Peninsula, west of Manila, Is expected byReuter - 69 words
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Article59 1977-12-12 1 Reuter WASHINGTON, Sun. Developing countries may outpace the industrial West In the eventual transition to solar energy. Solar energy, an inexhaustible power source that most experts consider the most ecologically acceptable, Is already economically competitive in rural areas of Asia, Africa and Latin America, accordingReuter - 59 words
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Article61 1977-12-12 1 AP SYDNEY, Sun. With 75 per cent of the 8.5 million votes counted, computer predictions gave Mr. Fraser's Conservative Liberal-National Country Party coalition a majority of at least 42 seats and possibly as high as 48 in the 124member House of Representatives. This compared with aAP - 61 words
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Article65 1977-12-12 1 AFP RANGOON, Sun. Burma hoped to produce 12 million barrels of crude oil during the coming year, according to the Myanma Oil Corporation (MOC). The proposed programme for 1978-1979 fiscal year which was reviewed today stated among its principal objectives, a target of 12.5 million barrels of crudeAFP - 65 words
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Article65 1977-12-12 1 Reuter NEW YORK, Sun. New York, .scarcely avoiding bankruptcy, may have to sack 12,500 employees, the Citizens' Budget Commission said. In a 15-page report, the commission added the city could not avoid bankruptcy without Federal aid. But for the city to continue granting salary increases amounting toReuter - 65 words
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Article55 1977-12-12 1 AFP WASHINGTON, Sun. Undiscovered oil and natural gas reserves in the western Siberian basin are as big as undiscovered reserves within the United States. A study by the Department of the Interior put the Siberian reserves at 48 thousand million barrels of oil and 8,495 million cubicAFP - 55 words
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Article118 1977-12-12 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 Friiday and the high and low for 1977. Company Turnover Price* High Low 1 Nany&ng Press WW118 words
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LOCAL STOCK INDICES
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Article68 1977-12-12 1 Dec 5 DecS Dec 7 Dec 8 DecS ft B.T. Index: 479.41 477.74 477.02 475.15 478.08 Industrials: 265.57 265.24 265.01 264.38 264 08 Finance: 416.10 415.87 415.30 413.97 413 31 Hotels: 109.13 169.56 169.44 169.76 169.83 Properties. 166.99 166.83 164.47 164.58 164.19 Tins: 142.83 142.74 141.88 142.00 143.20 rubbers:68 words
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Article79 1977-12-12 1 Dec 5 Dec 6 Dec 7 Dec 8 Dec* ft B.T. Index: 618.71 620.97 618.59 623.66 625.66 292.95 359.22 181.83 154 43 Industrials: 293.09 292.85 292.90 293.00 Finance: 360.63 360.89 360.68 359.12 Hotels: 181.91 181.83 181.52 181.40 Properties: 155.93 155.93 155.36 155.47 Tins: 148.00 147.20 147.10 147.81 147.15 358.3979 words
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Article, Illustration716 1977-12-12 1 JOHN TAN - VEHICLE FINANCING DROPS By JOHN TAN FINANCE companies have been showing good performances since last year because of the domestic economic recovery. Deposit liabilities, shareholders' equities, and loans and advances all grew despite increasing difficulties In the financing business. Profitability, however, showed a slight716 words
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Article213 1977-12-12 1 Reuter TOKYO, Sun. The Ja-panese-Finance Ministry is considering a request from 13 cttv banks for permission to sell national bonds to the public from April next year to help absorb growing public sector borrowings. Ministry officials said securities companies are opposed to the plan whichReuter - 213 words
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642 1977-12-12 1 NYT WASHINGTON, Sun. Secretary of the Treasury Michael Blumenthal and Federal Reserve Board chairman Arthur Burns, In the face of growing pressure from European finance ministers, have declined to commit the United States to a more active intervention policy to support the dollar. DisclosingNYT - 642 words
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328 1977-12-12 1 Reuter THE CONCORDE supersonic airliner ran into more problems yesterday when it was disclosed that the plane has obtained clearance for only three flights on its new London-Singapore service. The service, operated Jointly by British Airways (B A) and Singapore Airlines (SI A), started triumphantlyReuter - 328 words
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263 1977-12-12 1 Reuter LONDON, Sun. The International Tin Council (ITC) Economic and Price Review Panel (EPRP) will start its se-~ cond six-monthly review of the price ranges of the ITC buffer stock here tomorrow. A decision on a change in the current price rangeReuter - 263 words
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643 1977-12-12 1 i THE ACCOUNTING profession in Singapore must take immediate steps to change its rules so that erring members can be properly disciplined and this must be done before the Government steps in with its own regulation. Mr. Steven Tan, president of the Singapore Society of643 words
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Page 1 Advertisements
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Advertisement47 1977-12-12 1 [R rl ICOH tor plain paper copying *****33 Wywy Private Limited ...a responsible company 39th Floor Hong Leong Building Singapore 1. D Leisure/ TV A Radio Leisure/Croes words Feature International Co. Nvn/Oveneti Local Co. New. P2 Oversea! Markets *"3 Commodities P* Sports Local ft Overseas "5 News47 words
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Advertisement126 1977-12-12 1 The Autumn issue of the ASEAN Binlmi Quarterly laclnJn a 5-page analysis of ASEAN's urea project* aad Aada time to be lew than viable (12 table*) a IS-pace analysis of the impending world energy crisi* and tbe likely economic effect* om ASEAN countries including new pattern* at ASEAN ■up demand126 words
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Advertisement125 1977-12-12 1 MCI i '13 ■vV tor Man 4V%bmen JAL FLIGHT 712: THE TOKYO EXPRESS NEW YORK VANCOUVER *5- Wri •> f CI W*, .'W 1 1 FRANCISCO angeles] (HONOLULU SINGAPORE MEXCO OTY K Only on JAL can you non-stop to Tokyo, then make convenient connections to U.S. and Canada. 39 JAL125 words
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REVIEWS
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1173 1977-12-12 2 HAROLD SCHONBERG - By HAROLD SCHONBERG NYT NEW YORK: It is Messiah time, and from now to the end of the year Handel's great oratorio will be omnipresent in the concert halls as presented by major musical organisations and lesster one, and in the churches. ThereNYT - 1,173 words
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Article461 1977-12-12 2 UNLESS some action ts taken by the authorities, cement prices are apparently going to stay up at the new levels set by the five manufacturers who have formed a cartel to stay afloat In the face of the depressed demand. Anguished appeals by building contractors also equally depressed461 words
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Article, Illustration914 1977-12-12 2 SALMA KHALIK - By SALMA KHALIK THE magic words were "Lemon meringue pie." "Would you like me to teach you the magic words, boys and girls?". The loud "Yes!" from the young, and not so young, audience is the start of a most enjoyable914 words
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Article321 1977-12-12 2 PETER CHIA - By PETER CHIA THE US has entered an unusual contestant in the First Singapore International Chess Festival which will start on Saturday (Dec 17.) When the American representative competes against 170 other contestants, it will go down as the first computer ever to contest a321 words
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Article665 1977-12-12 2 ANATOLE BROYARD - By ANATOLE BROYARD NYT Why l Dont Write Like Franz Kafka By William S. Wilson 133 pages. Ecco. U557.95. THE meaning of the story is in learning how to read it, says a writer who Is being Interviewed in one of William S. Wilson'sNYT - 665 words
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467 1977-12-12 2 PETER J. SHAW - By PETER J. SHAW UPI LONDON: Leonardo da Vinci, besides painting the Mona Lisa, did masterful things with the less enigmatic ordinary human body. His famous anatomical drawings from Queen Elizabeth's collection at Windsor Castle are being exhibited separately In London for the first time.UPI - 467 words
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Article, Illustration1457 1977-12-12 3 ARTHUR C. BAUMAN - By ARTHUR C. BAUMAN Mr. Biuman is Economic Counsellor at the US Embassy in Singapore MONDAY UP at the quarter of six for a morning Jog. My wife as usual comes along, but it's not the hour for conversation, and we plod along more or less silently.1,457 words
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Article, Illustration887 1977-12-12 3 RAFAELA SEPPALA - By RAFAELA SEPPALA UPI PARIS: The late President Charles de Gaulle once said It was impossible to govern a country with more than 380 varieties of cheese. But It seems at least as difficult to control the quality of these cheeses. Over theUPI - 887 words
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Page 2 Advertisements
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Advertisement200 1977-12-12 2 IBJ The Bank for All Reasons Long-Term Financing. IBJ is Japan's oldest and largest long-term credit bank. We are the leading bank in arranging yen-denominated bond flotations by both foreign and domestic issuers. Main Bank to Japan's Key Industries. IBJ is main bank to more of Japan's industrial leaders than200 words
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Page 2 Miscellaneous
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Miscellaneous254 1977-12-12 2 SINGAPORE 5 3.00 PM Opening Followed by Valar Pirai (Tamil, Repeat) 3.30 Diary of Events (Tamil) 3.35 Afternoon Matinee Trader Horn (Part 1) starring Harry Carey, Edwina Booth and Duncan Renaldo 6.00 Opening Followed by Accent on Youth 77 (Repeat) 6.30 News in Brief 6.35 Marine Boy 7.00 Bod Bod's254 words
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Miscellaneous29 1977-12-12 2 BnSfcJW•' TD; I =OH DeCJDe. To Go (KTO CtffcQE. WRN\To*e» s*i is it cx>f Twe VJ*>( VOU HOftD 0 ft«e Sou Soildikg UP P* PbOURISMIf^G, Pl£ntnj lof ecGvjiPK cu^W«-29 words
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Miscellaneous51 1977-12-12 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 pot om Dec 11 at Singapore airport. Maximum Temperature 31.7° C Associated Humidity 66 Minimum Temperature 23.7° C Associated Humidity Hours of Sunshine 6.35 Rainfall in Millimetres 64.6 Total Rainfall for the Month 101.8 Total Rainy Days for the Month51 words
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Page 3 Advertisements
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Advertisement626 1977-12-12 3 Instl mi THE NEW STRAITS TIMES PRESS (MALAYSIA) BERHAD (Incorporated in Malaysia) The Directors have pleasure in announcing the audited results of the the year ended 31st August, 1977 as follows: Total Turnover Profit for the year after charging all expenses of operation Provision for taxation Less Preliminary Expenses Provision626 words
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Advertisement964 1977-12-12 3 tJ THE NEW STRAITS TIMES PRESS (MALAYSIA) BERHAD (Incorporated in Malaysia) NOTICE OF ANNUAL GENERAL MEETING that the S xth An r ual Generol M tin s Of the Company will be held in the F^° mPan y o7« *5? V£°° r 0f i ßa, l Berito 31 Ja,a Riong/Kuala964 words
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Page 3 Miscellaneous
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Miscellaneous426 1977-12-12 3 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 1 House started and finished by a president (6) 7 Enough to put the wind up the enemy (3, 5) 8 Scattered in various directions around the ring (4) 10 Did a tough Job involving oil (6) 11 It's played to the last note (6)426 words
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Article, Illustration3143 1977-12-12 4 With the increasing debate on auditing standards in Singapore, the accounting profession has been doing some soul searching of late. Seminars have been held and papers written on the independence of accountants. Teresa Lim reports on one such seminar held over the3,143 words
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Article648 1977-12-12 4 CHARLES MADIGAN - By CHARLES MADIGAN UPI MOSCOW: The man: Viktor V. Volodln. The title: Chief of the Department for the Industrial Development of the Toy Production of the Ministry of Light Industry of the Union of Soviet Socialist Republics. But you can just call him Santa Claus. or DyedUPI - 648 words
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Page 4 Advertisements
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Advertisement385 1977-12-12 4 I a "ITH "5| •Vf 5 %0/> ICON THE GREAT BOOKS OF WESTERN CIVILIZATION These are the books that had to burn. For within the GREAT BOOKS are volumes that hold the ideas and thinking that challenge the fettered mind; the thoughts and theories that have built democracies, withered tyrants,385 words
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INTERNACIONAL COMPANY NEWS
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814 1977-12-12 5 Reuter LONDON, Sun. Royal Dutch/ Shell group capital expenditure outside North America for 1978 Is expected to rise to some £1.6 billion, almost one third more than In 1977, Royal Dutch Petroleum Company president D. De Bruyne said. In a speech to membersReuter - 814 words
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Article342 1977-12-12 5 Reuter SEATTLE, Sun. Boeing Co net income this year will be well ahead of the U552.43 a share last year, despite the adverse effects of a 45day machinist strike, chairman T. A. Wilson said. Mr. Wilson said the strike, which ended on Nov 17. will haveReuter - 342 words
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276 1977-12-12 5 Reuter NEW YORK, Sun. General Electric Co expects its 1977 earnings to be In the range of US$4.7O to $4.80 per share, up from $4.12 in 1976, chairman Reginald Jones said. Mr. Jones made the same projection at a shareholders information meeting in OctoberReuter - 276 words
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Article59 1977-12-12 5 Reuter BANGKOK, Sun. ICC Corp of South Korea is applying for promotional privileges to set up a cement factory here in a joint venture with Thai partners, the Commerce Ministry's daily trade news reported. Quoting a report from the Thai commercial attache in i Seoul, itReuter - 59 words
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542 1977-12-12 5 Reuter NEW YORK, Sun. For 1 the second consecutive year. Wall Street financial analysts are predicting that IBM will split its stock at the directors' meeting next month. Nearly a year ago the giant computer manufacturer confounded many experts by not doing so.Reuter - 542 words
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Article132 1977-12-12 5 LOME. Togo. Sun. The Jointly-run Libyan and Togolese trading bank Baltex has doubled its capital to US$4 million in the 12 months since it was established and will undertake a series of major financing projects in 1978. Director-general Ibrahim Agha said the bank is financed by the132 words
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Article743 1977-12-12 5 ARRIVALS Service Local Operator Number Time From CPA i CX003 0145 HKG isIA/BA SQ300 0600 LHR/BAH jMAS MH601 0715 KUL {SAS SK097 0750 CPH/KHI/BKK MAS MH682 0810 KCH SIA SQ101 0815 KUL MAS MH621 0850 PEN MAS MH607 0900 KUL MAS MH671 0945 PEN/KUL GIA GA980 1030743 words
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OVERSEAS
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322 1977-12-12 5 Reuter JOHANNESBURG. Sun. Demand for gold as Jewellery, for dentistry and other industrial uses, together with the demand for official coins, is absorbing virtually all gold coming into the market, St Helena Gold Mines said In the company annual report for the yearReuter - 322 words
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Article38 1977-12-12 5 BASLE, Sun. The board of the Swiss Bankers' Association and the Swiss National Bank have approved a more detailed version of the agreement on Swiss banks' handling of banking secrecy and the acceptance of foreign deposits.38 words
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323 1977-12-12 5 AP WASHINGTON, Sun. President Carter says he hopes to help solve US farm problems by opening up sales possibilities in countries that do not buy food from the United States. Mr. Carter's hope was voiced as farmers on tractors demonstrated yesterday in supportAP - 323 words
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Article123 1977-12-12 5 AP NEW YORK, Sun. US coal fields were generally quiet yesterday as the United Mine Workers' nationwide coal strike entered its fifth day and contract talks continued in Washington. The walkout which began last Tuesday, idled 160.000 miners and cut coal production by half. The UMWAP - 123 words
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Article392 1977-12-12 5 AFP BRUSSELS, Sun. The European Economic Community's nine agriculture ministers meet here tomorrow and Tuesday for a first review of the EEC commission's proposal to raise farm prices for the 1978-79 season oy an average of 2 per cent. Mr. Finn Olav Gundelach, the commissionerAFP - 392 words
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Page 5 Advertisements
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Advertisement102 1977-12-12 5 r\ In Singapore there is an inn jjjji Which has an old-world pattern: The London Steak House is its name And it's a first-rate tavern The meals it serves melt in the mouth. The wines are fine and mellow. The atmosphere is companionable I And all the patrons know. That102 words
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Advertisement385 1977-12-12 5 A Major New Talent in Penguins Paul Theroux Paul Theroux, an American now Jiving 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 London385 words
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COMPANY NEWS
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537 1977-12-12 6 ALTHOUGH the New Straits Times announced a slight fall in group pre-tax profit to $9.64 million for the year ended Aug 31, 1977, shareholders should have nothing to grumble about in the accompanying news of a one-for-three scrip issue and a one-for-three rights Issue537 words
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163 1977-12-12 6 BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JANUARY 4, 1971 100) 1977 Week'i Action High Low Industrial Group Dec 2 Dec 9 Point Change 220 98 145.90 Automotive 220.98 220 47 0.51 496 57 336 76 Banks. Insurance. Finance 164 62 135 80 and Trustees 341.16 336 76 4.40 Chemicals.163 words
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119 1977-12-12 6 Reuter THE Federal Industrial Development Authority of Malaysia has given Its approval to United Asbestos Cement Berhad, In which Turner and Newall has a 21.29 per cent equity Interest, to build a new pipe manufacturing plant at Ipoh. The total cost of the projectReuter - 119 words
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Article369 1977-12-12 6 Current Ex Date Total for Total for payment Date payable the year previous year PMC 7.5% Nov 23 Dec 13 7.5% 17.5% Riverview 9% Nov 18 Dec 14 9% 20% Tasek Cement 7V,%()) Oct 26 Dec 17 12.5% Mineral Securities 10% Dec 1 Dec 19 20% 12.5% Toshiba369 words
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166 1977-12-12 6 THE buoyant conditions ruling in the oil palm and rubber markets have enabled Chin Teck Plantations to show vastly improved earnings for the year ended Aug 31, 1977. Group pre-tax earnings rose by a hefty 54 per cent to $4.1 million during166 words
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201 1977-12-12 6 Reuter YULO CATTO has in partnership with Telok Plantations formed a new Malaysian company Taman Melanti Sdn Bhd to develop for housing and Industrial use 493 acres of Mengikobol estate near Kluang, Johore. The estate was previously a part of Yule Catto'sReuter - 201 words
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COMPANY MEETINGS
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Article31 1977-12-12 6 THE following company meetings are due: Dec 15 at its registered office, 4th floor, Wong Shee Fun Building. Jalan Ah Fook, Johore Bahru, Johore, Malaysia at 11 a.m.31 words
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Article17 1977-12-12 6 Dec 17 at 19th floor. Clifford Centre. Raffles Place, Singapore 1 at 12 noon.17 words
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Article2615 1977-12-12 6 IB 1977 Low Company La at Sale Gr'a Gr'i Net Wart Di* Div YW P/E ♦or- C*vr Week Vol Week C000) High Low SECTION ONE INDUSTRIALS 154 204 116 246 88* 205 169 259 422 146 134 165 58 212 57' 155 152 182 3502,615 words
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Page 6 Advertisements
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Advertisement118 1977-12-12 6 m sinoapura FORUM jg HOTEL AOMrianslMw Contmnui MoMi 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 Tanla For memorable yester hits and today's favourites. Only happens at the Pebble Bar Dally (except Sunday)118 words
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Advertisement115 1977-12-12 6 Hotel v 405/407 Havelock Road, 9'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 great sounds115 words
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Advertisement150 1977-12-12 6 Orachid inn 214 Dunearn Road, 9'pore 11. Tel: *****2 Moby Dick (24 Hr. Coffee House) Whet your appetite with our wide variety of Inter-Continental 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%150 words
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Advertisement126 1977-12-12 6 Cockpit $otel 6/7 Oxley Rise/ Penan* 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. But for a truly grand function, let our special menus126 words
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Advertisement161 1977-12-12 6 d SWGAPORE HtTON Ml Orchard Road, 9'pore 9. Tel: *****3 Top of the Hilton 23rd Floor It's Carnival time with Mulato Brazil a fantastic ten-member dance revue from Brazil. Irresistible rhythms of the Samba and lovely dancing girls wearing colourful carnival costumes from Rio make It an easy-easy-on-the-eye show. From161 words
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INTERNACIONAL STOCK MARKETS
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Article408 1977-12-12 7 TOKYO: Share prices closed slightly lover on Saturday, with a waiting sentiment prevailing ahead of talks in Washington on US-Japanese trade problems early next week, dealers said. The Dow Jones average fell 4.00 to close at 4,829.36 with volume 120 million shares. The New index closed at 359.29,d0wn 0.44.408 words
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Article289 1977-12-12 7 PARIS: Shares firmed In very quiet trading on Friday with quotations only by special procedure involving specialised brokers due to the Paris bourse unions strike, bourse sources said. DEC Ot Frs CORBEILLE Alr-Llqulde 264 4-5.2 B S N Gervals Danone 425 1 C S F (ThomsonCsf) 170 -0.5 Cle289 words
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Article261 1977-12-12 7 TORONTO: Share prices closed higher In active trading on Friday with the composite index up almost four points and advances leading declines 215 to 205. Merchandising, metals and oil and gas posted doubledigit Index gains but the gold Index was off more than 24 points on lower bullion prices.261 words
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Article357 1977-12-12 7 JOHANNESBURG: Gold shares finished easier In fairly quiet trading dealers said. Mining flnanclals and other metals showed few changes, although Cons Murch was 100 cents down at 445 following the day's dividend cut. De Beenin Diamond* was three up at 555. The Industrials was quietly mixed. DEC M Rand357 words
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Article235 1977-12-12 7 AMSTERDAM: The market firmed on Friday despite Wall Street's easier tone, dealers said. DEC 09 Fte Ahold 111.00 4-2 Akzo 22 00 -0.5 Algbank 321.00 unch AMEV 76 40 -0 3 Am fas 99 50 -0.2 Amrot Bank 69 30 +■0.3 Bergoss 57.80 +3.6 Berk 102.00 -1 Bote 89235 words
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Article135 1977-12-12 7 MILAN: The market closed irregularly lower on Friday in slow trading, ahead of the long weekend In Italy, dealers said. However, the trend towards the close was barely steady, with heavy losses reported on llqulgas stocks. DEC M Lire Ante 124 -a Amoc Oen ***** -410 Baatofi 380 -5135 words
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Article250 1977-12-12 7 FRANKFURT: Shares closed higher In steady trading on Friday mainly as a result of the recovery of the dollar against the mark, dealers said. DEC H Dm Aef-Tele/unken 88.30 •t-0.8 Akzo 20 SOB Allz Leben 570S Allz Vers 474 -2 BASF 141 #0 -0.1 Bay H T Wbank 301250 words
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Article1411 1977-12-12 7 On Dec 9 CHICAGO Board Options Exchange volume was 83,850 contracts, up from 83,612 on Thursday. Alcoa OPTION 40 JAN 35/8 APL_ UNTRD JLY UN i'RD STOCK 42 5/8 Alcoa 45 13/16 17/8 23/4 42 5/8 Alcoa 50 1/16 5/8 NOL 42 5/8 Alcoa 60 UNTRD UNTRD1,411 words
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Article107 1977-12-12 7 BRUSSELS: Belgian share prices closed mixed after quiet trading on Friday, bourse sources said. DEC M PTl forward MARKET 2T7 unch Arbed 1713 1 *5 Astur 510 4-8 Brascan 488 190C -4 Bru-Lamt) 1 unch 546 350 ISO unch unch Ebes 2250 1 +5 Electrobel 6570 i -20 Ob-Inno-Bm107 words
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Article278 1977-12-12 7 ZURICH: The market closed generally firmer on Friday in fairly active trading with the strong recovery of the dollar a stimulating factor, dealer* said. In flnanclals Forbo 'A*. <Juvena-Bearer and Landia closed notably higher. Insurances were neglected Some firmer Industrials Included Brown Boverl 'A', Nettle Bearer. Sandoc Registered and278 words
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Article923 1977-12-12 7 YORK: Stocks finished ly higher on Friday despite some late selling, as the market turned In Its togest gain since Nov 11. Prices Jiad been slightly higher, mixed or lower since Nov 22. Dow Jones Industrials, up about 10 points at one time, gained about eight, the average's923 words
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Article66 1977-12-12 7 FINANCIAL TIMES INDUSTRIALS Friday 485.0 Thursday 485.2 Week Ago 488.7 DOW .JONES AVERAGE INDUSTRIALS Friday 815.23 Thursday 806 91 Week Ago 823 98 LONDON DOLLAR PREMIUM Friday 93* to 93% Thursday 95 to 95 H.K. HANG SENG Friday 419.15 Thursday 419.17 Week Ago 421.72 SYDNEY INDUSTRIALS Friday 393.68 Thursday66 words
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Article831 1977-12-12 7 NYT THE DOW JONES industrial average on the New York Stock Exchange spent part of last week veering downward towards the 800 level that marked Its lowest close of 1977 before rallying smartly on Friday. The final session produced a gain of eight points, the bestNYT - 831 words
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Article277 1977-12-12 7 AFP AMID growing uncertainty over economic prospects, the Tokyo Stock Exchange collapsed last week in a helpless downturn from a steep rebound the previous week. The Dow indicator remained on a downhill almost throughout the week, dropping below the 4,000-yen mark to sustain the biggest weeklyAFP - 277 words
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Page 7 Advertisements
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Advertisement156 1977-12-12 7 mcifico t j tr* 1 I 1 I 15 r v "<• > •y«ir» HOTEL ASIA 37 Scotts Road, Singapore 9 Tel: *****8. LION CITY HOTEL 15 Tanjong Katong Road, Singapore 15 Tel: *****1. X i HOTEL PHOENIX SINGAPORE Orchard/Somerset Roads, Singapore 9 Tel: *****6. HOTEL PREMIER 22 Nassim Hill,156 words
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COMMODITY REPORTS AND PRICES
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Article180 1977-12-12 8 LONDON, Sun. Terminal rubber lost further ground In the afternoon to close weak around the day's lows with on balance losses of 0.95 to 1.35 pence per kilo on Friday. Turnover totalled 281 lots of 15 tonnes Including two further options. Dealers attributed the extended decline to180 words
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Article130 1977-12-12 8 THE Straits tin price In Penang on Saturday was up f32 to close at $1,810, on an official offering up 15 tonnes to 241 tonnes. In LONDON on Friday, tin on the day rose by £200 for cash and £115 for three months In both contracts. During the130 words
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Article234 1977-12-12 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL on Saturday Coconut Oil: Bulk iST/i sellers, old drum $92*1 sellers, new drum $97H sellers Copra Mixed (loose) UK/Cont. *55 buyers Pepper Muntok ASTA white f o b. 100% NLW $442* i sellers. Sarawak white f ob 96% NLW234 words
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Article59 1977-12-12 8 C.I.F N. European ports prices quoted in London on Friday In US dollars per ton. Friday Previous Malaysia 5% f fa bulk Feb 510 sir 502 sir December uncti 545 sir January 530 pd 515 sir Feb 530 sir 510 pd Mch pd 505 sir Apl until 48759 words
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Article44 1977-12-12 8 LONDON, Sun. Lead rose by £3.75 for Cash and £2.75 for three months on Friday. The market advanced steadily throughout the day on covering against Russian physical business and fresh buying which pushed three months up to £379 stg before profit-taking pared gains.44 words
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Article311 1977-12-12 8 LONDON, Sun. Copper wire bars finished the day with gains of £7 for cash and £6.50 for Three Months. The market fluctuated around the higher levels during the afternoon in sympathy with the trend In US futures. On the morning premarket, values worked higher on covering prompted by the311 words
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Article49 1977-12-12 8 Nov 5 Nov 6 Nov 7 Nov 8 Nov 9 Nov 10 •Tin Tonne $1,781 190 $1,784,375 250 $1,760 250 $1,777 201 $1,778 226 $1,810 241 Rubber (S) 202.00 200.00 200.00 201.50 203 25 Rubber (M) 201.50 201.50 201.75 203.25 203.25 cents per kilo per plcul49 words
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Article469 1977-12-12 8 THE kilo bar In Singapore opened lower at $12,094 and closed at $12,075 which was the low of the day. In the London market, the metal opened at U*****.30/60 and closed at US$l5B.OO/30. Source: Singmas Retail prices per tael quoted by the Singapore Chinese Gold and Silver Merchants Association469 words
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Article43 1977-12-12 8 LONDON, Sun. Zinc gained £0.75 for cash and £1.50 for three months on Friday. The afternoon market was quiet In the absence of fresh physical demand. The market was very steady during the morning on modest covering prompted by the general trend.43 words
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Article286 1977-12-12 8 LONDON, Sun. Terminal closed slightly steadier on Friday, £7 to £31 up from Thursday. Volume totalled 2644 lots Including 41 options. Dealers said local trader and Jobber buying ahead of the weekend lifted prices from the day's lows during the closing session. A steadier afternoon in New York and286 words
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Article235 1977-12-12 8 LONDON, Sun. Terminal cocoa held very steady on Friday afternoon on preweekend shortcoverlng to close around the day's highs at £8 to £12 up from Thursday. Turnover totalled 2688 lots Including two further options (puts) and 1346 lots self traded. The morning market was steady In thin dealings after235 words
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Article146 1977-12-12 8 LONDON, Sun. Futures closed £0.60 down to £0.15 ¥er tonne up on Friday. urnover totalled 3,779 lots. Dealers said after a steady opening prices eased back gradually under profit-taking which followed the recent advance. However, the selling was well absorbed by fresh scaled own buying and this coupled with146 words
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Article148 1977-12-12 8 LONDON, Sun. Silver on the LME gained 3.9 to 4.1 pence per troy ounce on Friday. The market eased further during the afternoon following the downturn at New York with three months trading down to 263.0 pence per troy ounce. The morning market gave ground following the overnight trend148 words
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Article102 1977-12-12 8 HONGKONG Sun. The marlret was quiet with prices unchanged, dealers said. Turnover totalled 38 tons comprising Thais 11, Kwantungs 16 and Australlas 11 tons. The only arrival was 300 tons of kwantungs. (Prices HK dollars per plcul exgodown) Thai White: 100 pet old crop Ist class 108.00 nom, 2nd102 words
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Article110 1977-12-12 8 CHICAGO, Sun. Wheat futures were little changed on Friday from Thursday, down 1-1/4 cent a bushel in the December to unchanged in deferred months. Early speculative buying, encouraged by Initial advances in other pits, firmed prices in the early minutes of the lightly-traded session before commercial selling and long110 words
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Article760 1977-12-12 8 traders of the different commodities enjoyed varying fortunes at the Singapore produce market last week. There was little price movement with copra, coffee and coconut oil holding steady until the last day of trading and pepper weak for the whole week. Demand for both copra760 words
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Article138 1977-12-12 8 CHICAGO, Sun. Soybean futures posted losses of 21/4 to seven cents a bushel at the end of a relatively light trade on Friday. The losses came on pro-flt-taklng on the week's advances and followed an early firm tone. Early speculative buying was encouraged by cash market strength and the138 words
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MONEY AND EXCHANGES
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Article145 1977-12-12 8 THE US dollar continued to open weak at the $2.3625/35 level in the Singapore forex market last week as marks, Swiss francs strengthened further against it. The US unit touched a low level of $2.3490/00 before holding steady at the $2.3520/30 level after some commercial demand and buying145 words
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Article266 1977-12-12 8 Asian rates RATES remained fairly steady at the beginning of the last week In moderate trading conditions. However, anticipation of a significant increase In the US money supply on Thursday coupled with rollover covering pushed 1/16 1/8 higher. US money supply figures M 1 +$1.8 billion M 2 +$2 billion266 words
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Article42 1977-12-12 8 ACBC 7 I First Chicifo CI. 7 Citibank 7 7 HSBC 7 7 Bank of China 7 7 Malayan Banking 7 7 Bank Nagara OCBC OUB 7 7 UCB 7 Chase Manhattan DBS 7 7 UMBC (JOB 7 742 words
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Article401 1977-12-12 8 Source: Discount Company of Singapore Ltd. LAST week witnessed a classic example of a misreading of market situation which resulted in erratic movements In interest rates in a rather balanced money market. The Interbank overnight rate fluctuated at around the 3 per cent level until the close onSource: Discount Company of Singapore Ltd. - 401 words
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Article190 1977-12-12 8 NEW YORK, Sun. The dollar closed stronger against most major currencies In fairly thin, quiet trading, dealers said on Friday. The currency weakened slightly m the afternoon amid rumours of a possible withdrawal of the mark from the European joint float but it later rebounded. Dealers said the190 words
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Article168 1977-12-12 8 Euro rates LONDON, Sun. Light trading was recorded in Eurodollar deposits with sentiment unaffected by the moderate rise in the US weekly money supply data, dealers said on Friday. Period rates, which firmed around Thursday's close in anticipation of the money supply figures, showed few changes. The one month rate168 words
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Article581 1977-12-12 8 THE further weakness of the dollar earlier last week was still due to the bleak US trade and current account situation. The outbreak of a coalminers strike worsened the situation. Later, however, the German Finance Minister, Mr. Apel Chancellor Schmidt and finally the president of the Bundesbank Mr. Emminger,581 words
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Article47 1977-12-12 8 FOR the week ended Friday Dec 9 the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND 3 per cent to 4% per cent GENERAL FUNDS 3 per cent to per cent. Movements of fund totalled $487 million.47 words
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Article327 1977-12-12 8 LONDON, Sun. The dollar and sterling closed stronger on the day but strains began to reappear within the Joint European float towards the close, dealers said on Friday. Operators began to move Into marks and Swiss francs following the New York opening as an insurance against a float realignment327 words
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Article81 1977-12-12 8 Source: Astley and Pearce THE Interbank overnight market was generally squarish falling on the easy trend except on Wednesday which closed at the 7 6 percent level. This was attributed to lender banks placing more funds on call with discount houses with fear of low closing levels. KeenSource: Astley and Pearce - 81 words
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Article41 1977-12-12 8 FRANKFURT exchanges closing quotes on Dec 0 US 2.1900/ IS Can 2.000/010 Stg 4.010/ 016 Dfl 92.52/ 62 Sfr 102.43/ 53 Lit 2.490/ 498 Ffr 45.22/ 32 Yen 0.9028/ 38 Bfr com 6.343/ 353 Bfr fin 6.32/ 33 Nkr 40.97j1.0741 words
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Page 8 Advertisements
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Advertisement381 1977-12-12 8 NEW from Penguin o 1976 Nobel Prizewinner 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 doubt. Bellow381 words
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MONDAY SPORTS
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1239 1977-12-12 9 JOSEPH DURSO - By JOSEPH DURSO NYT HONOLULU: "I never told this to anybody," Al Campanls of the Los Angeles Dodgets was saying, "but 'last year I was in on the only baseball trade ever swung In Greek. "The Dodgers were closing a deal with the AtlantaNYT - 1,239 words
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Article, Illustration500 1977-12-12 9 LOCAL squash enthusiasts can look forward to a series of exhibition matches featuring top international players with the opening of the Singapore Squash Centre sometime in February next year. Speaking to pressmen, Mr Eric Cooper, Management Consultant for the centre, said that players500 words
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814 1977-12-12 9 NYT NEW YORK, Sun. When a baseball team invests $3,155,000 in a free agent named Larry Hlsle or $2,850,000 In one like Oscar Gamble, some reactions are predictable. The free agent can be relied on to buy a Rolls Royce, hire a tax attorney,NYT - 814 words
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Article, Illustration963 1977-12-12 9 GODFREY WISEMAN - By GODFREY WISEMAN AIS MELBOURNE: The evidence that Mr. Kerry Packer's World Series Cricket (WSC) was making progress emerged with the planting of three instant wickets In Melbourne on Nov 9, 1977. The home-made wickets were< put-In place after weeks ofAIS - 963 words
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Article637 1977-12-12 9 STEVE CADY - By STEVE CADY NYT NEW YORK: Is it true, the trainer was asked, that Don Newman pays you $630 a day to keep his 18 horses In shape? "Sure," said 40-year-old Alan Marcus, puffing contentedly on a long cigar. "A mere pittance." Newman, theNYT - 637 words
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Page 9 Advertisements
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Advertisement160 1977-12-12 9 m^y(o) the 8 Steps to Health and Peace by Richard L. Hittleman (author of u yoga 28 day EXERCISE PLAN) Richard Hittlaman, tha moat widaly-raad author in tha world on tha aubjact of yoga, praaanta in thia book hit moat complata and in-dapth atudy of tha subjact to data. Inatruction160 words
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1019 1977-12-12 10 Reuter ZURICH, Sun. Central bank governors meeting at the Bank for International Settlements (BI8) are expected to scrutinise latest foreign exchange market developments but are unlikely to take any major decisions. Informed European sources said the bankers will above all be looking at possibleReuter - 1,019 words
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599 1977-12-12 10 COLIN CHEE - Kong Joo developer with a difference By COLIN CHEE KONG JOO Pte Ltd, the local developer who has sold to the Housing and Urban Development Company (HUDC) over 100 terrace units In Its Paslr Rls housing estate, looks like any of its other hard-hit counterparts in the property market at599 words
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Article, Illustration209 1977-12-12 10 WORKMEN'S compensation plays a vital role In Singapore, considering that Industrial accidents have Increased by 70 per cent over the last five years. The Mirror, published by the Ministry of Culture, reported that total compensations awarded last year reached $12.9 million. Of this, $3.6 million209 words
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325 1977-12-12 10 SWEDEN hopes to cooperate with the Asean countries in three main Industrial areas aerospace, mass transportation, and environmental protection. SvPHrpr l l amba ssador Astrom said this with <£?,«£ rou d of iJ-s Before leaving Singapore over the weekend after three days of talks325 words
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133 1977-12-12 10 A 33-member delegation from Japan will arrive today for a two-day housing seminar beginning tomorrow, which will be produced into a 30minute television documentary for Japanese viewers. The seminar will focus on Singapore's public housing programme, urban redevelopment, Jurong Town, and the investment climate133 words
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Article133 1977-12-12 10 A PROJECT Management seminar begins today at the Regional Language Centre and about 30 engineers from Industries in Indonesia, Iran, Nepal, Pakistan, Philippines, Sri Lanka, Thailand as well as Singapore are expected to attend the 11-day course. It has been organised by the Carl Duisberg Society133 words
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Article32 1977-12-12 10 RANGOON, Sun. Stateowned Burmese Oil Industry and Japan's Mitsubishi Heavy Industries have signed a contract for construction of an oil refining plant worth one million kyat (Ss3B million), officials said.32 words
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Article913 1977-12-12 10 Reuter AFP TOKYO, Sun. Economic Affairs Minister Nobuhlko Ushiba today left for talks In Washington carrying an emergency package of measures and Japan's overall policy to trim its huge trade surplus. He Is also carrying a personal message from Prime Minister Takeo FukudaReuter; AFP - 913 words
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345 1977-12-12 10 Reuter BONN, Sun. West Germany's gross national proauct will probably show a real increase of only 2.5 per cent this year. Mr. Martin Gruener, a state secretary at the Economics Ministry, said the slower than expected growth was a ref ectlon ofReuter - 345 words
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Article61 1977-12-12 10 UPI PHOENIX (Arizona), Sun. A worldwide famine affecting millions of people could be triggered by massive crop failures during the next year, a climate consultant said. Dr. Iben Browning told a meeting of financial experts that grain crops will fall way below expectations in China, the SovietUPI - 61 words
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Article466 1977-12-12 10 UPI LOS ANGELES, Sun. Leaders of the American Federation of LabourCongress of Industrial Organisations unveiled over the weekend their blueprint for protectionist trade legislation including Import quotas. They also declared that President Darter's proposed new tax cut would be meaningless without a full US$3l billion (5573.5UPI - 466 words
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Article264 1977-12-12 10 WASHINGTON, Sun. US manufacturers' after-tax profit margin fell to 5 per cent in the third quarter from 5.8 per cent in the previous quarter and 5.3 per cent in the 1976 third quarter. The Federal Trade Commission estimated after-tax P,ro f JH at USJI6.B billion (5540.3 billion)264 words
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Article112 1977-12-12 10 AP TAIPEH, Sun. Taiwan Xtered a trade surplus of J03.0 million in the January-November period, compared with a surplus of $516.8 million in 1970, the government reported over the weekend. Exports for the first 11 months of 1977 reached $8.33 billion, upsl.os billion or 14.5 perAP - 112 words
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Article352 1977-12-12 10 Reuter TOKYO, Sun. East German Foreign Minister Oskar Fischer begins a fiveday official visit to Japan tomorrow at a time when his country appears to have more interest in Japan as a trade partner in the noncommunlst world. Mr. Fischer, the first East GermanReuter - 352 words
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186 1977-12-12 10 NEW YORK, Sun. Arrangements for a term loan of up to US$25O million (SSS9O million) for Zaire are nearing completion, banking sources said. The five-year credit from an International banking syndicate would be for imports of essential raw materials and equipment, The sources said186 words
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Advertisement43 1977-12-12 10 BEST TEPPAN-YAKI STEAK! \&> 7 SINGAPORE OKOH Japanese Restaurant 4tti Fir. Supreme House, Penang Boad. Tel *****1 sa OKOH OF GINZA k Japanese Restaurant Basement. Hong Leong Blag Baffle* Quay. Tel *****81 > KATSURA (J| Japanese Steak House K Orchid Inn, Ourtearn Rd Q> *****243 words
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Advertisement202 1977-12-12 10 Let's Talk About Accounts Receivable Loan and Factoring We are pleased to announce that Heller, in adding more flexibility to its existing factoring service, is now providing also Accounts Receivable Financing. This means that there are now 2 ways Heller can increase the flow of cash intoj your business through202 words
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