The Business Times, 19 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 19, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Tokyo aid ratio
      83 1 AFP TOKYO, Sun. Japan should Increase Its governmental aid to developing nations by 2.8 times In five years to 1,175 trillion yen (5111.4 trillion). The Foreign Ministry said In a white paper that with the Increase, Japan's official development aid (ODA) will account for 0.35 per cent
      AFP  -  83 words
    • Article
      Lock icon Support govt call
      58 1 AFP JAKARTA, Sun. Indonesia's largest labour union, the All Indonesia Labour Federation, has called on all workers In Indonesia to support the government in its efforts to preserve national stability. The appeal was made by the federation's chairman, Mr. Agus Sudono, during a speech before representatives of
      AFP  -  58 words
    • Article
      Lock icon Forbidden fruit
      45 1 UPI TOKYO, Sun. More than 300 tonnes of grapefruit Imported from the United States have been ordered to be recalled from the market after sample tests showed they were contaminated by an excessive amount of fungicide, the Tokyo metropolitan government reported today. UPI
      UPI  -  45 words
    • Article
      Harder on artistes
      58 1 KUALA LUMPUR, Sun. Immigration regulations to restrict the entry of foreign artistes to the country will be enforced next month. Deputy Home Affairs Minister Datuk Sharif Ahmad said today that foreign entertainers under contract with local nightclubs and hotels would be given a three-month visa which could
      58 words
    • Article
      Lock icon Australia helps
      33 1 Reuter KUALA LUMPUR, Sun. The Australian Development Assistance Bureau plans to send a mission to Malaysia soon to discuss details of development programmes to be carried out with Australian aid. Reuter
      Reuter  -  33 words
    • Article
      Lock icon Overwhelmingly Marcos
      56 1 AFP MANILA, Sun. Philippine President Marcos won 91 per cent of Metropolitan Manila's more than three million votes in yesterday's referendum on his continuance In office according to near-complete official returns from the capital, Mr. Marcos won a total of 2,930,304 votes against 244,962 who voted "No" to
      AFP  -  56 words
    • Article
      Direct exports
      51 1 LABUAN, Sun. A Sabah company, Minyak Berjaya Sdn Bhd, will export crude palm kernel oil directly to overseas buyers from next month. Its managing director said hen. that after an initial consignment of 400 tonnes to a German buyer, there would be a regular monthly shipment of 500
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    • Article
      Lock icon Suez oil estimate
      37 1 AFP TEL AVIV, Sun. The El Tur offshore region in the Gulf of Suez could yield nine million tonnes of oil a year, according to oil experts quoted by the Israeli press today. AFP
      AFP  -  37 words
    • Article
      Lock icon Cereals shortfall
      46 1 AFP NIAMEY, Sun. Niger has a 50,000-tonne cereals deficit and outside help might be needed. President Seynl Kountche said that would necessitate buying almost 100,000 tonnes of millet, sorghum or wheat to make up the shortfall and to build up a reserve stock. AFP
      AFP  -  46 words
    • Article
      Lock icon NZ finances survey
      29 1 AFP JAKARTA, Sun. Indonesia and New Zealand have signed a NZ$24 million (Sss6 million) agreement to finance geothermal power construction and Purvey projects in Indonesia. AFP.
      AFP  -  29 words
    • Article
      Concorde talks
      65 1 KUALA LUMPUR, Sun. British officials are expected to resume technical talks here tomorrow in another attempt to get Malaysia to lift its ban on the use of its airspace by the supersonic Concorde airliner. The deadlocked negotiations will resume in the light of a positive statement by Malaysian
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  • Article
    TOP TEN STOCKS
    118 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 '000 Price* Dec 16 High Low 1977
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  • LOCAL STOCK INDICES
    • Article
      SINGAPORE
      71 1 BT Index: Dec 12 Dec 13 Dec 14 Dec 15 Dec 16 474.76 475.74 482.86 485.40 487.67 262.82 419.77 Industrials: 263.83 263.65 263 31 262.71 Finance: 411.31 410.84 418.44 418.92 Hotels: 169.64 169.76 169.41 169.21 169.56 Properties: 163.81 163.42 163.92 163.92 164 15 Tins: 143.28 142.96 142.83 142.65 142.48
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    • Article
      MALAYSIA
      80 1 BT Index: DM 12 Dae 13 Dec 14 Dec 15 Deo 1C closed 619.22 020.99 830.07 830.33 Industrials: closed 293.02 293.44 293.18 293^54 Finance: closed 355.89 338.28 359.17 360.28 Hotels: closed 181.83 181.87 181.75 181.99 •Properties: closed 153.58 154.49 154.80 153.71 Tins: closed 145.84 145.91 145.71 145 80 rubbers:
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  • Article
    Bonds—bubbling and bouncing
    1848 1  - Bonds —bubbling and bouncing ASIAN MARKET GOING PLACES By COLIN CHEE DESPITE some doubtingThomas mumbles and moans, the Asian dollar bond market has had a bubbly year in Singapore and looks set for a bouncy New Year too. With barely a fortnight to go before the year ends and no
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  • Article
    EXPO NETS $10M
    122 1 JAPANESE exhlbltqrs at the Japan Industrial Exposition Singapore '77, which closed yesterday, grossed about $10 million in sales. This figure, however, should not be taken as the final estimate, said Mr. Ippei Takeda, director-ge-neral of the exposition, as it is only an estimate based on information returned
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  • Article
    HK losing out to Singapore in tourism
    746 1  -  ly JOHN TAN AFTER a few years of slow growth following the oil crisis, the inflow of Japanese tourists has swelled once again into a flood. Japanese arrivals this year are ruijnlng at 1V» times the level last year making them the highest
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  • Article
    EDB to aid locals
    223 1 PROPOSALS for a scheme to stimulate and support local companies to develop new products related to their existing manufacturing activities are currently being studied by the Ministry of Finance and the Economic Development Board. This was disclosed by Mr. Ooh Chok Tong, Senior Minister of State
    223 words
  • Article
    Arab plan presents yards with a golden chance
    316 1 THE depressed shipbuilding industry here may get a boost from a multimillion dollar expansion plan by the Arabs to increase their oil tanker fleet if shipbuilders are quick enough to seize the opportunity that is before them. The big buildup of the
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  • Article
    Lock icon Tokyo move for more measures to soothe US
    529 1 UPI AFP TOKYO, Sun. The Japanese government will work out additional measures to straighten strained trade relations with the United States by the end of this year. Sources close to Prime Minister Takeo Fukuda said the decision was reached by Mr. Fukuda
    UPI; AFP  -  529 words
  • Article
    TWO MORE BOEINGS
    67 1 SINGAPORE Airlines is to buy two more Boeing *****00 aircraft for delivery in August and September 1979. The aircraft will be deployed on the trans-Paclflc service to the United States via Hongkong and Honolulu. .The two aircraft will bring SlA's Boeing 747-200 fleet to nine, at a
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      51 1 *fo o>v M*F hand when Wayfoong Mortgage n66(j and Finance (Singapore) Limited it tTIOSI Shaw House. Ground Floor. 354 Orchard Road. Singapore 9. Td *****7. Lcistm/TV A Radio —Pi Local Co News Leisure/Crow words —PS Orereeae IT" Commodities Features -P4 s porta laternatioaal Co Local ft Ovc NeWOvcncai New* —P5
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    • Advertisement
      Page 1 Advertisements Column 2
      99 1 Sony Sonnyboy Sony Trinitron now comes in with a 31 cm (13") screen portable color TV. The Son of Sony. Yourideal second set The Son of Sony has a Special ECONOOUICK system that gives you instant picture and sound, saving the unnecessary wastage of power while awaiting the tube to
      99 words
    • Advertisement
      Page 1 Advertisements Column 3
      155 1 Albert Photo ■'lP For the best in photographic »n ah hours equipment HfiPO'tiff 1?' Ist H, or 0< n.t'l T vs. >•1 V note SirKja;)u'.!' O' S'r><4JDO'e9 Tel 3. T 1?03 37 *141 4, NEW YORK VANCOUVER •;> y l H fn I.U w SAM 1 FRANCISCO kIOS 1 'ANGELES
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  • Article
    FOR ART'S SAKE
    583 2 SINGAPORE has maintained a fine reputation for adapting to changing circumstances pragmatism, flexibility, call it what you will and in the process becoming a leading economic force In the region. One such adaptation is necessary now. With major International publishers like Octupus books (the largest hardback publisher
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  • REVIEWS
    • Article
      Lock icon The Nutcracker's tale of fairies and fantasy
      1286 2  -  By ANNA KISSELGOFF NYT NEW YORK: The Nutcracker celebrates Its 85th birthday this weekend with some 150 different greductions In the United tates alone. Not bad for a ballet thev said wouldn't last. Actually, It didn't last. Despite Its phenomenal popularity in the
      NYT  -  1,286 words
    • Article, Illustration
      Lock icon POP BOOM IN ASIA
      858 2  -  By GRAHAM EARNSHAW Reuter HONGKONG: With a song In their hearts and dollar signs in their eyes, a new wave of Hongkong-based pop singers is sweeping East Asia. Record companies in the Colony are tapping a lucrative new market for pop music by regional, mostly Hongkong
      Reuter  -  858 words
    • Article, Illustration
      Christmas fare under Osawa
      273 2 THE Singapore Philharmonic Orchestra stages a Christmas Concert on Thursday, Dec 22 and Friday, Dec 23, Bpm at the Conference Hall In Shenton Way, under the baton of maestro Yoshlnao Osawa, the 27 year-old Japanese conductor who also presided over the or* chestra's debut concerts In
      273 words
    • Article
      Lock icon Hearing the best you can afford
      776 2  -  «y HANS FANTEL NYT NEW YORK: "Dear Mr Fantel, I really need help with a large problem and turn to you for any suggestions you may have. Our family has subsisted all these years on a gramophone bought for the first of our three
      NYT  -  776 words
    • Article, Illustration
      Bridging the cultural gap with Japan
      997 3 Economic Diplomacy in the Land of the Cherry BloMom Wee M on-Chen#, September 1»77 MPH Distributor* (8) Pte. Ltd., Singapore (S2O hardcover, $12 aoftcover) Reviewed by John Tan THIS book has a pretty name for a cold hard look at Japan the Global Super
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    • Article
      Lock icon Dressing up to suit yourself
      763 3  -  By JEAN BUTLER NYT NEW YORK: She usually buys expensive shoes, very expensive shoes. But this time was different. Diana Marye Huff was looking around one of her favourite antique clothing stores. Early Halloween, on Ninth Avenue, when she noticed the brown suede shoes. They
      NYT  -  763 words
    • Article
      Lock icon The art of giving away paintings
      980 3 "The rich men of England form themselves into a Society to Sell and Not to Buy Pictures. The Artist who does not throw his Contempt on such Trading Exhibitions, does not know either his own Interest or his Duty." That was William Blake in
      FT  -  980 words
    • Article
      Playwright's note
      166 3 THE Playwriting competition organised by the Ministry of Culture with the aim of promoting play writing in Singapore has been extended for one month. The new closing date for submission of entries is Jan 19. 1978. "Hie competition which is conducted in the English and Chinese languages is
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    • Article, Illustration
      Lock icon Rocketing costs of space films
      645 3  -  By BRUCE RUSSELL Reuter HOLLYWOOD: Hollywood studios are planning a wave of space-age films but are worried that rocketing production costs could make them unprofitable. US producers were Inspired by the success of "Star Wars" which recently became the most profitable film ever at the
      Reuter  -  645 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      272 2 When Malaysian petroleum resources dry up, so would hundreds of million doDais in revenue. What then? Find out in the December issue of MALAYSIAN BUSINESS Today, the petroleum industry is Malaysia's number 2 export industry, with revenue earnings estimated at $700 million for this year and $820 million for 1978.
      272 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      227 2 THE WEATHER > WEATHER report for 24 hours prior to 7.30 pm on Dec 18 at Singapore airport. Maximum Temperature 30.5° C Associated Humidity 71 Minimum Temperature 24.1° C Associated Humidity 99 Hours of Sunshine 7.85 Rainfall in Millimetres trace Total Rainfall for the Month 114.5 Total Rainy Dayi for
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  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      159 3 Sanwa Bank opens a new branch 19th December. SINGAPORE BRANCH 17th Floor, Clifford Centre, 24 Raffles Place, Singapore 1 Branch Manager: Teruaki Tanaka (General Manager) Cable Address: SANWABANK SINGAPORE Telex: 87-***** Telephone: ***** Our network in Southeast Asia Oceania Singapore: Singapore Nomura Merchant Banking Ltd. Baring Sanwa Multinational Limited, Singapore
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  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      427 3 TWO-IN-ONE CROSSWORD pawim amu a CRYPTIC PUZZLE ACROSS I Green skirt material (5) l Name rank and number, possibly (5) I Various rates of damages To love more than Is proper (3) Plain as glass (5) Car lent for Underground use (7) So-called Spanish dagger(s) Best for circulation (3) Redskin
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  • Article, Illustration
    Lock icon Having your plants talk back to you
    692 4  -  By LLOYD TIMBERLAKE Reuter LONDON: Hope Is at hand for the people who have been chatting to theli plants for years without the slightest response. British electronics wizard Jeremy Lord claims to have Invented a system whereby the plants can "talk" back. The
    Reuter  -  692 words
  • Article
    Lock icon Cheap thrills can pass for pleasure
    1090 4  -  By PHYLLIS THEROUX NYT NEW YORK: Not long ago I met a man, an astronomically rich man, who had spun so much straw into gold that he was forced to reverse the process in order to have a good j reason to get up
    NYT  -  1,090 words
  • Article, Illustration
    Lock icon An unofficial Christmas
    725 4  -  Br EMIL SVEILIS UPI RIGA, LATVIA, (Russia): Christmas is coming and the streets and stores are decorated with lights and snow flakes, but the displays are not meant for the observance of Christmas. The greetings of the season all say "Happy New Year." There are no officially
    UPI  -  725 words
  • Article, Illustration
    Lock icon British bid to keep in line
    855 4  -  By ROBERT HERSHEY JR. NYT LONDON: The queue, as much a part of British life as gardening and afternoon tea, Is beginning to show the strain of modern life. So far, there has been no general breakdown In the Briton's willingness often even his
    NYT  -  855 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      539 4 SCOTT FTTZGERALD IlH| m ■aw THE IMPERIAL ACHIEVEMENT ,Aikiii. This months new Penguins The Last Tycoon: F. Scott Fitzgerald Exhausted by Hollywood hackwork, Fitzgerald died before he could complete the book that many people regard as his masterpiece. His bittersweet novel of Hollywood in the thirties is now a Paramount
      539 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon No ITT plan to sell part of its UK subsidiary
      277 5 Reuter NEW YORK: International Telephone and Telegraph Corp is not planning to sell part of its 100 per cent owned UK subsidiary, Standard Telephones and Cables, an ITT spokesman said in response to questions. A press report In London said
      Reuter  -  277 words
    • Article
      Lock icon Texaco borrowings
      95 5 Reuter TORONTO: Texaco Canada said It plans to borrow Csl2s million from Texaco Exploration Canada, a wholly owned unit of Texaco. The borrowing will be in the form of an unsecured loan agreement, with interest at 8% per cent over seven years. Proceeds will be used to repay
      Reuter  -  95 words
    • Article
      Lock icon Chairman of SEC supports disclosure rulings
      111 5 Reuter WASHINGTON: Securities and Exchange Commission chairman Harold Williams said the commission supports disclosure requirements for municipal securities. Such securities are not required to be registered now, although they are subject to federal anti-fraud laws. In testimony before the Senate Banking Committee, Mr. Williams
      Reuter  -  111 words
    • Article
      Lock icon Polaroid film sales up
      79 5 Reuter CAMBRIDGE: Polaroid Corp said shipments of SX--70 film to US retailers increased more than 60 per cent for the first 11 months of 1977 and this trend has been accelerating throughout the autumn and Christmas selling season. It said a report stating SX-70 retail sales
      Reuter  -  79 words
    • Article
      Lock icon Mitsubishi chief admits payment
      332 5 Reuter TOKYO: The Japanese Parliament was told that four leading Japanese trading houses had remitted a total of US$2.5 million to unidentified bank accounts In the United States in connection with their export of subway rolling stock to South Korea. Mr. Bunichiro Tanabe, E resident of
      Reuter  -  332 words
    • Article
      Lock icon R and R
      80 5 Reuter BALTIMORE: Carling National Breweries said R and R Holdings, an associated company of Rothman's International Co, has agreed to purchase the shares of Carling held by Carling O'Keefe of Canada. The sale is scheduled to be completed on Dec 30. No sale price was specified. Carling
      Reuter  -  80 words
    • Article
      Lock icon Sumitomo cuts back capital spending
      96 5 Reuter TOKYO: Sumitomo Metal Industries said It will reduce Its capital outlay for plant and equipment In fiscal 1977 ending March 1978 by 20 billion yen to 100 billion following a slump in the industry. In Julv, Sumitomo revised downwards Its capital spending to 120
      Reuter  -  96 words
    • Article
      Lock icon Gulf extends offer to holders
      115 5 Reuter NEW YORK: Gulf and Western said its exchange offer to holders of Its 5 V, per cent convertible subordinated debentures due on July l, 1993. will be extended to 1700 hours EST on Dec 23. The offer was to have expired on Friday. Gulf
      Reuter  -  115 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      540 5 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKG MAS MH601 0715 KUL SAS SK097 0750 CPH/KHI/BKK MAS MH682 0810 KCH SIA SQ101 0815 KUL MAS MH612 0850 PEN MAS MH607 0900 KUL MAS MH671 0945 PEN/KUL OIA GA980 1030 HLP CPA CX710 1035 HLP
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    • Article
      Toyo Kogyo to get new president
      321 5 TOKYO: Toyo Kogyo, Japan's third largest carmaker.will get its new president and board chairman next week, according to Industry sources. The sources said that president Kohel Matsuda will step down and become board chairman. He will be succeeded by Mr. Yoshlkl Yamazakl, managing director
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    • Article
      Lock icon Fokker ends project
      119 5 Reuter BREMEN: The supervisory board of Zentralgesellschaft VFW-Fokker decided finally to halt production of the VFW 614 short range jet at the end of this year, the Bremen management said In a bulletin to staff. The decision was taken at a meeting of the board, and follows
      Reuter  -  119 words
    • Article
      Viscosa fibre troubles
      65 5 MILAN: Snla Viscosa's chemical fibres division is in continuing business difficulties because of the market slump for its products and the firm is considering calling on the government to declare it officially in a state of crisis, a spokesman said. The company Is at present negotiating with
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    • Article
      Lock icon Goodyear sees revival in polyester market
      215 5 Reuter AKRON, Ohio: Goodyear Tyre and Rubber Co said oversupply and a slump in market growth of polyester will be significantly reversed In 1978. Goodyear is a major polyester producer. The company said technical advances by the textile industry and new markets for polyester,
      Reuter  -  215 words
  • OVERSEAS
    • Article
      Lock icon No change in Fed monetary policy is expected
      551 5 Reuter x NEW YORK, Sun. The Reserve Board will give money markets a Christmas present in the form of unchanged monetary policy until the end of the year, money market economists fore- cast. Early indications from money supply growth In the first
      Reuter  -  551 words
    • Article
      Lock icon Marked fall in bonds sale
      97 5 Reuter FRANKFURT, Sun. Net sales of domestic bonds on -<he German capital market "In November totalled DM3.08 billion (513.3 billion) against DM5.08 billion ln October and 3.41 billion in November last year. The Bundesbank said, redemptions totalled DM2.60 billion against DM2.45 billion in October and
      Reuter  -  97 words
    • Article
      Lock icon Increase in value of Swiss franc to continue
      286 5 AP Reuter BERNE, Sun. The Swiss franc's "nominal" upward revaluation is likely to continue but a continued tight-money policy abouid protect exporters competitive position on world markets. This is the forecast of a government -commissioned report which added that except for Switzerland,
      AP; Reuter  -  286 words
    • Article
      Lock icon Power workers relent in the light of Xmas
      478 5 AP LONDON, Sun. Rebel power workers yesterday called off a threatened Christmas blackout because "It is the season of goodwill," but warned they will stage wildcat strikes next year over a pay dispute. Several thousand men in a dozen major power stations
      AP  -  478 words
    • Article
      Lock icon Brace for disaster warns Davignon
      163 5 Reuter BRUSSELS, Sun. The Common Market steel Industry faces a disastrous year next year unless its Internal steel prices can be raised by between 10 and 15 per cent. ETC steel commissioner Etlenne Davlgnon said measures would be needed to prevent some exporters to the
      Reuter  -  163 words
    • Article
      Lock icon UK exchange rate instability forecast
      322 5 Reuter LONDON, Sun. Severe exchange rate Instability is Hkely next year reflecting Sf». Va f^ tk)ns ln ,n Nation lnterest rate s. external payments positions and a sharp rise in the v u s? e ot mobile funds, UK stockbrokers James Cape) But In a
      Reuter  -  322 words
    • Article
      Strike by farmers makes little impression
      220 5 NEW YORK, Sun. Despite the attention drawn by tractor caravans and supermarket plcketrng, the strike by farmers on Wednesday seeking higher prices for their produce has had little visible effect on the nation's food marketplace. In the states of lowa, Missouri, and Montana, for
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  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      42 5 Wi, vv wrs •r v !K» W A" w w« tt Ml is &S&&' as «s \v W. 1 »i $8 JALLY OF SWITZERLAND 9 l£jt; Slw TAILORS STORE OUTFITTERS HIGH ST CENTRE®OCEAN BUILDING SUPREME HOUSE GOODWOOD, HILTON, RAFFLES HOTELS COLD STORAGE
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  • COMPANY NEWS
  • Article
    Share Information for the week
    2563 6 I97V1977 High Low Coaiuy Laot Sale We* Dhr ♦or- SECTION ONE Dhr Crr Gr'i YH Nat P/E Vol CM9) Weak High Low INDUSTRIALS 154 204 116 246 88' 205 169 259 422 146 134 165 58 212 57* 155 151 182 350 91 Acma Alcom
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      408 6 ("%\~=;"<=((^<!`%~[~\.$.!="\?,@ sfnGapura FORUM jg HOTEL A o>iiKowq*Jwh» Committal HoMi 595 Orchard Road, S'pore 9. Tel: *****2 Experience the unique expression of Tanla Great Sound Big Show You'll love the jlynamlc and versatile Tanla For memorable yester hits and today's favourites. Only happens at the Pebble Bar Dally (except Sunday) open
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      Page 6 Advertisements Column 2
      160 6 9NGAPORE HLJON Ml Orchard Road, S'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. From beginning
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Paris
      335 7 PARIS: The stock market eased In dull trading on Friday with some position squaring ahead of Wednesday's end-of-account taking place as operators fear further disruption of trading as talks with bourse personnel unions have failed All sectors were lower, with steels again particularly weak. Printers, BBN, Martell, BIC and
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    • Article
      Zurich
      278 7 ZURICH: The stock market closed Friday narrowly mixed In quiet dealings, dealers said. Variations either way were limited among leading banks and flnanclals. while Rueckver-•icherung-Bearer was again higher among Insurances on news of Its expansion plan In the USSmall advances and declines were fairly balanced among Industrials. but retail
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    • Article
      Milan
      171 7 MILAN: The stock market closed Friday generally higher in selective buying at the start of the new account, dealers said. The trend was barely steady at the opening but firmed on renewed Interest In leading Industrials and Insurances. Mediobanca recovered Thursday's loses while flnanclals were mixed with Generals Immobiliare
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    • Article
      Brussels
      151 7 BRUSSELS: Belgian share prices closed mixed on Friday with a majority lower in quiet trading, bourse sources said. Vieille Montague, Cockerill and Hainaut-Sambre rose while Sidro, FN, Socftn, UCB and Moaane fell. In foreign stock UK, Germans, Dutch, French and US fell; Canadians were little changed. Gold mines fell.
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    • Article
      Amsterdam
      256 7 AMSTERDAM: Share prices were lower over a broad front on Friday with Philip* and Unilever leading declines In Dutch Internationals. Internatio-MuUer lost almost three guilders on the announcement it expects a lower 1977 profit than earlier forecast. KLM, Nedlloyd and Stevin were among firm Issues. State loans were firm
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    • Article
      Toronto
      346 7 TORONTO: Share prices closed Friday higher In active trading The composite Index was ud nearly six points at 1044.9, its highest closing level since July 26. The metals index, up 13 6 points on the day, gained more than 57 points In the week, the ml est we k,y
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    • Article
      Frankfurt
      312 7 FRANKFURT: The stock market finished the week on a mixed note with little perceptible reaction to Thursday's package of Bundesbank measures, market sources said. Deutsche Bank, Siemens and VW all gained between 1.40 and 1.70 marks In otherwise little changed banks, electrlcals and motors while Hoecbat led chemicals as
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    • Article
      New York
      1115 7 NEW YORK: Stocks turned In another lacklustre performance, moving narrowly lover In moderate trading. Analysts said generally favourable economic and monetary news failed to Influence the market. They noted U8 housing starts in November, although down 5.4 per cent from October, were still at a seasonally adjusted annual
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    • Article
      CHICAGO BOARD OPTIONS
      1343 7 December 16 CHICAGO Board Options Exchange volume was 88 065 contracts, down from 86,480 on Thursday. Advances trailed declines 149 to 283. OPTION JAN APL JLY STOCK Alcoa 40 4 UNTRD UNTRD 43 3/4 Alcoa 45 3/4 17/8 UNTRD 433/4 Alcoa SO 1/16 UNTRD NOL 43 3/4
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    • Article
      Indices
      66 7 FINANCIAL TIMES INDUSTRIALS Friday 471.9 Thursday 472.1 Week Ago 485 9 DOW JONES AVERAGE INDUSTRIALS Friday 815.32 Thursday 817 91 Week Ago 815.23 LONDON DOLLAR PREMIUM Friday 93 K to 93*. Thursday 93* to 94 H.K. HANG SENG Friday 416.41 Thursday 416 26 Week Ago 419.15 SYDNEY INDUSTRIALS Friday
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  • Article
    Lock icon Utility stocks sputter along
    605 7 NYT THOUGH they have been outperforming a generally lacklustre market for most of this year, utility stocks are sputtering along at some of their lowest prices In 40 years. Utility stocks have been hammered down to the point where yields have become substantial indeed. Some AA-rated
    NYT  -  605 words
  • Article
    TKSE prices bounce back
    496 7 SHARE prices, bolstered by the government's indication to take strong reflationary action, bounced back In rising activity on the Tokyo Stock Exchange last week. The Dow-Jones average of 225 selected stocks, a 127.38-yen loser the previous week, rallied 51.09 yen to close the five-day week on
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  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      463 7 a ,r. Jk v Jk a HOTEL MERLIN SINGAPORE 7500 Beach Road, Singapore 7 Tel: *****11. MING COURT HOTEL Tanglin Road, Singapore 10 Tel: *****3. HOTEL MIRAMAR 401 Havelock Road, Singapore 3 Tel: *****2. HOTEL NEGARA 15 Claymore Drive, Singapore 9 Tel: *****1. OBEROI IMPERIAL HOTEL I Jalan Rumbia, Singapore
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    • Advertisement
      Page 7 Advertisements Column 2
      26 7 Ran 11 RJunite From the House of Banfi Riunite Lambr usco The best selling wine in the vyorkj -now available in Singapore. r qmsHt, iwodw from
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  • COMMODITY REPORTS AND PRICES
    • Article
      FOREIGN RUBBER MARTS
      289 8 LONDON, Sun. Terminal rubber closed "weak" with on balance losses of 1.50 to 0.80 pence on Friday. Volume totalled four lots at five tonnes, 804 lots at 15 tonnes Including two kerb trades and three options which were traded during the morning. Dealers said an attempted rally
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    • Article
      Straits tin
      129 8 THE Straits tin price In Penang on Saturday rose $10 to $1,770 on an official offering up 29 tonnes to 203 tonnes. In LONDON on Friday, tin finished with cash £5 lower and three months £25 higher for standard metal while high grade was £5 down and £30
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    • Article
      Produce exchange
      259 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY. Coconut OH Bulk *88 sellers, old drum $93 sellers, new drum $98 sellers. Copra: Mixed (loose) UK/Cont. $57 buyers. Pepper Muntok ASTA white f o b. 100% NLW $440 sellers. Sarawak white f o b. 96% NLW
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    • Article
      Palm oil
      58 8 C I F N European ports prices quoted In London on Friday in US dollars per ton. Friday Previous Malaysia 5% I fa bulk Fet December January Feb Mch Apl ROTTERDAM Sumatra: Jan 502 sir unch unch unch 490 pd unq 525pd/slr 492 sir 525 sir 512V> sir
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    • Article
      Copper
      307 8 LONDON, Sun. Copper wire bars on the day rose by mostly £5.50 per tonne on Friday. The market forged ahead during the afternoon on general shortcoverlng prompted by Phelps Dodge's three cents per lb copper price Increase to 63 cents Three months finished the kerb trading at the day's
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    • Article
      Cocoa
      193 8 LONDON, Sun. Terminal cocoa was barely maintained in late afternoon on Friday, having previously held steady against New York. Final levels ranged from £25.50 per tonne down to £0.50 up. Spot Dec showed the largest loss under long liquidation on the prospect of West African shipment Cocoa arriving in
      193 words
    • Article
      Sugar
      214 8 LONDON, Sun. Terminal sugar drifted lower in relatively thin afternoon trading, to close "barely steady" around the day's lows with on balance losses of £0.95 to £1.85 on Friday. Turnover totalled 1,903 lots including 28 further call options. Dealers said the easing entailed some weekend booksquaring with sentiment possibly
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    • Article
      Rice
      116 8 HONGKONG, Sun. The market was quiet with prices unchanged, dealers said on Saturday. Total turnover was 55 tons comprising Thais 17, Kwangtungs 26, Australias 12. The only arrival was 410 tons from Thailand. (prices in HK dollars per plcul exgodown) Thai White: 100 pet old crop Ist class 109
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    • Article
      Lock icon Gold
      478 8 Source: Swiss Bank Corporation Zurich RETAIL prices per tael quoted by the Singapore Chinese Oold and Silver Merchants Association are $470 for 90 per cent gold, $500 for 22k gold and $530 for 24k gold. In LONDON on Friday, gold closed In the range of $160.25/ 160.75 an ounce
      Source: Swiss Bank Corporation Zurich  -  478 words
    • Article
      Silver
      112 8 LONDON, Sun. Silver on the LME closed with gains of 2.1 to 2.2 pence per troy ounce on Friday. The rallying trend at New York attracted further shortcovering up to 257.4 pence per troy ounce in the first ring before profit-taking pared the advance. The morning market was marked
      112 words
    • Article
      Zinc
      58 8 LONDON, Sun. Zinc closed with gains of mostly £4.50 per tonne on Friday. The afternoon market advanced on shortcovering, fresh buying and chart operations which pushed three months up to £305.50 per tonne in late ring and kerb dealings. During the morning, the market found modest fresh buying interest
      58 words
    • Article
      Lead
      53 8 LONDON, Sun. Lead on the day lost £1 for cash and gained £0.50 for three months on Friday. The market was shaded under the influence of continuing freer offers of cash which dealers said reflected the increased availability of scrap material. Three months fluctuated narrowly around the £377 level
      53 words
    • Article
      Coffee
      400 8 LONDON. Sun. Dealers said physical trading continued quiet with offers tending to ease in line with the fall of the terminal market on Friday. But, terminal prices were basically undervalued to present origin offerings they added. In milds, Nicaraguan SHG traded for Jan/Feb at $199 and for Feb/March shipments
      400 words
    • Article
      Lack of buying support in produce market
      669 8 TRADERS in the Singapore produce market remained generally idle last week in the absence of consistent buying support from the Western countries. The volume of business transacted was low and conflried mainly to nearby countries on consumer account and book-squaring among the dealers.
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    • Article
      Soybean
      211 8 CHICAGO, Sun. A late rally In soybean futures failed to carry and prices fell to session lows and losses of 6% to three cents a bushel at the close on Friday. Prices weakened in early dealings on professional and local selling but found support on commercial buying and strength
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    • Article
      Wheat
      115 8 CHICAGO, Sun. Wheat futures were down ltt to 1/2 cent a bushel at the close on Friday, and just above the lows of a narrow trading range. Early weakness In soybean futures and commercial selling contributed to early softness in light trading. But prices firmed when beans turned upward,
      115 words
    • MONEY AND EXCHANGES
      • Article
        Singapore market
        167 8 THE US dollar opened virtually unchanged last week at $2.3568/75 In the Singapore forex market. The sentiment was still for a weak dollar coupled with the fact that there was an apparent lack of an agreement by Central Bankers In Basle on measures to defend the dollar. This
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      • Article
        Minimum lending rates
        38 8 ACBC 7 First Chicago 6*4 7 Citibank 7 HSBC Bank of America 7 Indoaucz Bank of China 7 Malayan Banking Bank Nef ara OCBC 7 OCB 7 UCB Chaae Manhattan 7 L'MBC DBS 7 COB
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      • Article
        Asian $ rates
        263 8 Asian rates THE rates were very steady in a quiet market ahead of the end of year. Patchy business was seen in three and six months. Short dates offered easier. Money supply increased $1.8 billion in Ml and $2.5 billion in M 2. ASIAN currency average deposits rates for the
        263 words
      • Article
        Lock icon Discount market
        235 8 Source: Commercial Discount Co Ltd. CONTRARY to market expectations, the anticipated seasonal tightness has yet to make its Impact. With the exception of Tuesday afternoon when the overnight rate rose momentarily to 7 per cent liquid conditions prevailed in the domestic market last week. Base day on the
        Source: Commercial Discount Co Ltd.  -  235 words
      • Article
        Euro $ rates
        174 8 Euro rates LONDON, Sun. Eurodollar deposit rates closed little changed from earlier levels after minimal rate movements in pre-week-end trading, dealers said on Friday. Periods held steady with most operators square ahead of the Christmas holiday and content to turn funds over via the shortdate sector, they added. Light rollover
        174 words
      • Article
        Lock icon Zurich
        864 8 Source: Swiss Bank Corp. ZURICH, Sun. The foreign exchange market last week witnessed a consl- der?.ole downward movement of the dollar in the iirst half of the week. The t currency fell to new all-time lows against the Swiss franc (2.0550), the yen (236.75) and the D-mark (2.1170) on
        Source: Swiss Bank Corp.  -  864 words
      • Article
        New York
        139 8 NEW YORK, Sun. The dollar on Friday closed slightly weaker than on Thursday after a quiet morning trading session and little afternoon trading with many operators squaring books, dealers said. News that November personal income rose more slowly than In October, housing starts fell and retail sales fell
        139 words
      • Article
        London
        298 8 LONDON, Sun. The dollar closed slightly weaker > against major currencies In i quiet trading on Friday with most activity confined to posltionsquarlng while sterling ended firmer, dealers said. They pointed out many banks have closed positions for the year resulting in thin trading. Against the trend, the yen
        298 words
      • Article
        Lock icon Money market
        52 8 Source: Astley Pearce THE Interbank overnight market has been extremely easy for the last week. Dally closing was below the 3 per cent level. Terms on the other hand maintained firm and steady to close 5 9/16 7/8 In the ones, and 5 11/16 9/16 in the twos
        Source: Astley & Pearce  -  52 words
      • Article
        Short term money
        48 8 for the week ended Friday Dec 16 the range of r*n rates received from Short Deposits (M) Berhad was as follows: BANK FUND 4* per cent to 7 per cent GENERAL FUNDS 3* per cent to 6* per cent Movements of fund totalled $4m million.
        48 words
      • Article
        Frankfurt
        43 8 PRANKPURT txrhanfM closing quote* on Dae It U8 2 1400/25 Can 1 HI WIS Stf I WtH Dfl 92 28/38 Sir 103 BS/85 Ut 2 448/4 M Pfr +4 82/72 Yen 0 8000/U> Bfr con 8 341/391 Bfr fin 8.33/34 Nlkr 40.970/980
        43 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      312 8 IN PENGUINS Vukio Mishima firmly upheld the traditions of Japan's imperial past which he believed were being slowly eroded by Western materialism. Disillusioned he astonished the world* in 1970 by committing hara-kiri or ritual suicide by disembowelment. One of his last works, Runaway Horses, is now published in Penguins. Like
      312 words
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  • MONDAY SPORTS
    • Article, Illustration
      Lock icon Taking to the high seas in round the world race
      1924 9  -  CLARE FRANCIS describes the fears and exhilarations of the second leg of the Whitbread Round-the-World race CLARE FRANCIS The Observer IT WAS our cook. Bumble, who summed it up when she said, "I thought I'd be terrified, but I was
      The Observer  -  1,924 words
    • Article
      Lock icon Shatin aims to become Mecca of Asian punters
      1076 9  -  By RICHARD BAERLEIN The Observer IN A YEAR'S time when the new racetrack called Shatin opens on land reclaimed from the sea, Hongkong will be the most highly publicised racing centre in the world and deservedly so. Already the top jockeys like
      The Observer  -  1,076 words
    • Article
      Lock icon Blowing the whistle on US basketball referees
      691 9  -  By DAVE ANDERSON NYT NEW YORK: Sid Borgia had the same clenched face that he had when he was one of the National Basketball Association's most respected referees. But this time he was blowing his whistle on the system. "All this violence," he
      NYT  -  691 words
    • Article, Illustration
      Lock icon Pakistan's cricket roots may be withering
      592 9  -  By SCYLD BERRY The Observer AFTER opening their tour at Rawalpindi, an England XI moved oh to Faisalabad (which was Lyallpur before being renamed this year after the late Saudi King). Their opponents were the United Bank lilmlted. Playing against a bank? Only in
      The Observer  -  592 words
    • Article
      Wayne Bosley hopes to follow in dad's footsteps
      518 9  -  By ERNEST FRIDA WAYNE Bosley, who hopes to follow the foot steps of his famous father Bill Bosley, won the Singapore Junior golf championship held at SICC Old Course on Thursday and Friday. Wayne, 13, beat his arch rival S. Kyle-Little by
      518 words
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      Page 9 Advertisements Column 1
      162 9 the 8 Steps to Health and Peace by Richard L. Hittleman (author of m yoga 28 day EXERCISE PLAN) Richard Hitttoman, tha moat widaly-raad author in tha world on tha subjact of yoga, praaanto in this book his most compiata and in-dapth atudy of tha subiact to data. Instruction is
      162 words
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  • Article
    Mechanisation trims PSA workforce
    1125 10  -  •y JOHN TAN THE WORKFORCE of the Port of Singapore Authority, the largest employer In the transport, storage and communications sector, fell by about 3 per cent over the three years to end-1976. It had 11,225 workers In 1974 but by the end of last year
    1,125 words
  • Article
    Sterling will remain strong till mid-year says Chase
    384 10 THE Economic Group of the Chase Manhattan Bank expects future developments to shore up British sterling at least until the middle of next year, when Britain's spring budget is announced. There may, however, be short periods of weakness due to future uncertainly
    384 words
  • Article
    Seven more on board
    61 10 BANKAMERICA Corporation has appointed seven new members to its board to align its directors with that of its principal subsidiary, Bank of America NT&SA. This brings the number of board directors to 21. President A.W. Clausen said this will strengthen the abilities of both boards to
    61 words
  • Article
    Science Council steps up role
    376 10 THE Science Council has expanded its role from mere adviser to science promoter. In this new role. It will help to advance the Re{mblic's level of technoogy. Professor Choo Seok Cheow, Chairman of the Science Council, says In the council's annual report 1976/77 that the
    376 words
  • Article
    Aviation firm to expand its Singapore operations
    206 10 THE SINGAPORE subsidiary of Hawker de Havilland Australia is to expand ita operations following a restructuring of its parent company. Under the new group structure, the Singapore company will change ita name from Hawker de Havilland Pte Ltd to Hawker Pacific Pte Ltd.
    206 words
  • Article
    NATIONAL BANK HAS 3M ACCOUNTS
    152 10 KUALA LUMPUR, Sun. One out of six Malaysians has an account with National Saving- Bank which has total deposits currently in excess of MsBoo million. The bank's general manager, Enclk Zainuddln Hajl Bachik, said yesterday the bank now has 3.3 million accounts of which 2.3
    152 words
  • Article
    Lock icon East Europe turns to Iran for oil and gas supplies
    841 10 Reuter AP TEHERAN, Sun. With the Soviet Union facing dwindling oil production In the 1980s, its traditional customers In Eastern Europe are turning increasingly to Iran for their oil and gas. Western oil experts expect tfeat by 1980. when Soviet
    Reuter; AP  -  841 words
  • Article
    Lock icon Boost for FTZ plan
    108 10 Reuter COLOMBO, Sun. Visiting Hongkong and Swedish businessmen have told the government here that they are prepared to Invest about US$lOO million (SS24O million) a year In a proposed Sri Lankan free trade zone. Disclosing this a Trade Ministry spokesman said the businessmen who met Trade
    Reuter  -  108 words
  • Article, Illustration
    Mobile drilling system for Asian terrain
    116 10 A NEW mobile drilling system designed for use In Asian and African terrain has been developed by Svensk DJupborrnlng AB of Sweden. A hydraulic drill manufactured by Wlrth of Germany Is mounted on a Scania slx-wheel-drlve cross-country truck which Is capable of travelling on
    116 words
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      Page 10 Advertisements Column 1
      4 10 Cooked Specially For You'
      4 words
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      Page 10 Advertisements Column 2
      89 10 TSINGTAO now rated the top beer in China. Tsingtao beer is distilled from the sparkling mineral waters of Mount Lao&han in China. There's abundant goodness bottled up in Tsingtao The goodness erf the finest barley and hops and mineral waters. Come, taste the difference in Tsingtao beer. And***, n Emporiums
      89 words