The Business Times, 22 December 1977
1977-12-22
1
12
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The Business Times
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Title Section10 1977-12-22 1 BUSINESS TIMES M.C.(P) 300/1/77 THURSDAY, DECEMBER 22, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article72 1977-12-22 1 AFP. LONDON, Wed. Britain today announced easing of capital exports to other countries of the European Economic Community (EEC) from Jan. 1. As a result of the Jan. 1 liberalisation, companies will be allowed to send out £500,000 (552.2 million) annually per project for Industrial and commercialAFP. - 72 words
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Article62 1977-12-22 1 JOHORE BARU, Wed. Malaysian Customs today foiled another attempt to smuggle tin ore across the Causeway here when they seized about M 5213,000 worth of the metal concealed in an oil palm tanker, the largest single seizure of the metal so far this year. Earlier this week, the62 words
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Article49 1977-12-22 1 Reuter HONGKONG, Wed. The Hongkong government today adopted a permanent GMT pluseight time scale after seeking public opinion. Seventy-three per cent of the respondents opted for the plus-eight system, 11 per cent plusnine, 12 per cent for a dual system, and the rest expressed no preference. Reuter.Reuter - 49 words
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Article52 1977-12-22 1 AFP TOKYO, Wed. Mitsui and Co., one of Japan's largest trading firms, secretly funnelled US$2.5 million (555.9 million) in rebates to a South Korean business combine in a bid to win the export of a fertiliser plant to South Korea in 1965, a former South Korean spy chiefAFP - 52 words
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Article43 1977-12-22 1 AP. TOKYO, Wed. Japan will lend 22.5 billion yen (SS2I9 million), to the Philippines for its several development projects. The loan, with 3.25 per cent annual interest, will be repaid in 25 years including a grace period of seven years. AP.AP. - 43 words
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Article34 1977-12-22 1 Reuter. LONDON, Wed. Britain's powerful Trades Union Congress (TUi;) today refused to support a five-week-old strike by firemen which has developed into a test case for government pay policy. Reuter.Reuter. - 34 words
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Article27 1977-12-22 1 KUALA LUMPUR, Wed. Airlines operating In Malaysia today tightened flight safety by allowing passengers to carry only one hand baggage into the aircraft cabin.27 words
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Article59 1977-12-22 1 UPI. NEW YORK, Wed. Stocks, aided by bargain hunters and some favourable economic news, headed higher early today in active trading on the New York Stock Exchange. The Dow Jones industrial average was ahead 3.38 points to 809.60 shortly before 11 a.m. Advances led declines, 614 to 334,UPI. - 59 words
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Chief Price Changes
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Article, Illustration182 1977-12-22 1 Falls Most active Straits Trading 560 -5 Olympia 221.000 Pacific Dev 243 -4 Haw Par 121.000 Supreme Corpn 172 -4 UOB 59.000 C Sugar* G Ceramic* 249 198 -3 -3 Apollo 52.000 Intra co 197 -3 Total Turnover: 1.51 M Jardinea 180 -3 Total Value >: $2182 words
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Article117 1977-12-22 1 Foils Most active Rahman Hyd S Mai Tin (M) Kramat Tin M. Tobacco Berjuntal Sg Besl Tronoh Mines Sel. Dredge 4.00 9.90 5.60 6.10 8 0S 5.10 5.70 4.72 -.80 20 -.15 -.05 -.05 05 -05 04 G. Ceramics 91,000 High and Low 87!000 Olympia 70,000 Mega117 words
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Article808 1977-12-22 1 JOHN TAN - CONFUSION IN SOME QUARTERS By JOHN TAN THE FINANCE Ministry has conceded that the amendments to the Income Tax Act introduced this year, and designed to prevent companies from siphoning off Singapore profits, are ambiguous. Their misinterpretation has caused some confusion. The Ministry has808 words
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Article188 1977-12-22 1 KUALA LUMPUR Wed. A toy syndicate operating on both sides of the Causeway has been bared. It Imports toys from Singapore by under-declaring the value of the goods to escape paying the full duty. Almost Mss million worth of toys were seized in raids throughout188 words
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Article134 1977-12-22 1 WASHINGTON, Wed. The US international payments deficit totalled US$4.3 billion (SSIO billion) In the third quarter, the second largest on record. The size of the deficit was topped only by the $4.6 billion deficit during the second quarter, the Commerce Department said. The latest current account figure134 words
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590 1977-12-22 1 SINGAPORE'S exports In November rose to $1.8 billion, which is the highest level ever recorded, and promises to sustain the Republic's much Improved trade balance position this year. For 1977, a large Jump in exports against a much smaller gain in Imports, promises590 words
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Article649 1977-12-22 1 CARABALLEDA, (Venezuela), Wed. Most observers here are predicting that oil prices will be frozen at least for the first half of next year because of powerful support by the world's two leading oil exporting countries, Saudi Arabia and Iran. President Carlos Andrez Perez of Venezuela unaeriined649 words
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215 1977-12-22 1 SEOUL. Wed. South Korea is studying a plan to allow its businessmen to participate in trading on overseas gold markets with a double aim of investing the nation's bulging foreign exchange reserves and checking the inflationary increases in local money supply in the215 words
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590 1977-12-22 1 KUALA LUMPUR, Wed. Malaysia's Finance Minister 1 Tengku Razaleigh Hamzah yesterday urged Malaysian bankers to accept larger risks and also castigated them for rumours of > malpractices and kickbacks which, he said, had become too frequent to be ignored. He said it590 words
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Page 1 Advertisements
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Advertisement47 1977-12-22 1 SS ri! AKA i IL SEE PAGE 2 INSIDE Overseas New*/ TV Jk Radio P2 Overseas News/ Crosswords P3 Local Co. News P4 International Co. News P5 Local Stocks PS Overseas Stocks P7 Commodities P8 Transport 6 Communications PJ Features PlO Local 6 Overseas News PH, 1247 words
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Advertisement134 1977-12-22 1 The Autumn issue of the ASEAN Business Quarterly includes a 5-page analysis of ASEAN's urea projects and finds these to be less than viable (12 tables) a 15-page analysis of the impending world energy crisis and the likely economic effects on ASEAN countries including new patterns of ASEAN energy demand134 words
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Advertisement168 1977-12-22 1 PLESSEY REMOTECOPIER Singapore to Hong Kong 18 flights a week Flight Hostess Patricia Ramos.. Our morning non-stop flight to Hong Kong leaves at 11.20 am every day of the week. It's a Super TriStar service (except on Friday when we operate a Boeing 707). Every afternoon at 4.05 pm there's168 words
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OVERSEAS
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1288 1977-12-22 2 NYT. WASHINGTON, Wed. President Carter has decided on a US$25 billion (5558.5 billion) tax reduction and revision package designed to stimulate the economy and check inflation. The cuts, to become effective next Oct. 1, would be fairly straightforward, with lower rates for both businessesNYT. - 1,288 words
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Article94 1977-12-22 2 Reuter. WASHINGTON, Wed. President Carter yesterday signed Into law the largest tax Increase In American history to shore up the country's ailing social security pension system. "It Is never easy for politically elected persons to raise taxes," Mr. Carter said, but added that the US$227 billion (*****.2Reuter. - 94 words
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396 1977-12-22 2 NYT WASHINGTON. Wed. The full House-Senate energy conference is expected to make one last try to give President Carter a congressional agreement an natural gas pricing by Christmas, as the President had urged. The conferees will meet today to try to settleNYT - 396 words
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Article56 1977-12-22 2 AFP. BOSTON. Wed. Contacts of American businessmen with Cuba have multiplied In the last few months, and are now beginning to produce some concrete results. In mid-January next vear a group of technicians from Oeneral Electric will go to Havana to hold a seminarAFP. - 56 words
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736 1977-12-22 2 UNITED NATIONS, Wed. The UN Oenerai Assembly rushed towards adjournment yesterday, pushing out dozens of final reports and votes, but final budget decisions threatened to delay conclusion of the three month 32nd session. The United States, which pays for one-quarter of all UN expenditures,736 words
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239 1977-12-22 2 Reuter. UNITED NATIONS, Wed. The United Nations General Assembly, responding to Third World demands, unanimously adopted proposals to reshape UN economic operations In support of underdeveloped and developing countries. But the 149-natlon body was unable to complete other work and failed to adjourn onReuter. - 239 words
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Article395 1977-12-22 2 UPI LONDON, Wed. The bakers' refusal to work overtime threatened to escalate Into a full walkout by Christmas, and striking firefighters are more determined than ever to hold out for a big pay rise. Firefighters* leader Terry Parry yesterday said their employers had lost the chanceUPI - 395 words
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324 1977-12-22 2 Reuter, AP GENEVA, Wed. Leading negotiators for freer world trade may hold an informal meeting here next month when substantive bargaining is expected to begin. An official of the "secretariat of the General Agreement on Tariffs and Trade (Gatt) said senior representatives mayReuter,; AP - 324 words
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169 1977-12-22 2 UPI. WELLINGTON, Wed. Foreign Minister Brian Talboys said today New Zealand and the Soviet Union have concluded talks on a fishing zone with two specific areas of agreement still to be reached. Mr. Talboys said in a statement that substantial progress had been madeUPI. - 169 words
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1243 1977-12-22 3 FRANKFURT, Wed. The Bundesbank still expects last week's bank rate cut to ease the upward pressure on the mark but only when the foreign exchange market has calmed down. Senior Bundesbank sources were commenting on the dollar's sharp drop against the mark since the1,243 words
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302 1977-12-22 3 Reuter ROME, Wed. Italy's minority Christian Democrat government has entered a decisive month of negotiations with political parties and unions which could lead to changes within the government early next year and even the replacement of Prime Minister Giulio Andreotti. Criticism of the government'sReuter - 302 words
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Article76 1977-12-22 3 Reuter. OTTAWA. Wed. The Export Development Corp (EDC) said it will lend Poland Cs2Bs million (Ss6lo million) to buy Canadian goods and services over the next two years. Polish purchases under the EDC financing include mining, chemical and electrical equipment, hotels and marine products. The EDCReuter. - 76 words
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649 1977-12-22 3 Bonn reserves boosted by buying support Reuter. FRANKFURT, Wed. Germany's net monetary reserves rose a further 2.2 billion marks (552.44 billion) to 94.2 billion in the week ended Dec 15, mainly due to intervention In dollars and within the European Joint float The Bundesbank said the rise takes the reservesReuter. - 649 words
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Article173 1977-12-22 3 Reuter FRANKFURT, Wed. German November vehicle production rose to 381,000 j£om 371,221 In October and 352,679 in November 1976. The Motor Industry Association said this was due mainly to the increase in car production, which rose to 352,800 in November from n October and 323,165 inReuter - 173 words
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362 1977-12-22 3 Million penalty on bribery firms in force AP WASHINGTON, Wed. President Carter, calling bribery "ethically repugnant and competitively unnecessary," signed legislation yesterday setting US$l million (5«2.3« million) Ones against any company that pays off foreign officials to obtain business. The million-dollar penalty is one of the stiffest fines ever writtenAP - 362 words
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743 1977-12-22 3 Reuter LONDON, Wed. British economic performance Is expected to deteriorate late next year with unemployment rising to 6.5 per cent by mld-1979, Economic Models Ltd says in a forecast for industrial countries until mld-1979. The London-based economic consultants say private Investment Intentions indicateReuter - 743 words
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Article448 1977-12-22 3 NYT. WASHINGTON, Wed. Former Budget Director Bert Lance agreed yesterday to sell 60 per cent of his stock in the National Bank of Georgia to an Internationally known Saudi Arabian businessman for US$2O (Ss47) a share, about S3 more than he paid for it. AccordingNYT. - 448 words
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Article115 1977-12-22 3 Reuter OTTAWA. Wed. Canada's seasonally adJusted index of real domestic product rose 0.1 per cent In October after a 0.2 per cent rise In the previous month. Statistics Canada said the index waj at 128.3 in October compared with 128.2 the previous month and 123.6 a year agoReuter - 115 words
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Article172 1977-12-22 3 Reuter. PARIS, Wed. Some Industrial prices may be freed from controls in the second half of next year If the situation warrants. In a finance ministry statement presented to the National Prices Committee on Monday, It was noted that the present controls will be broadlyReuter. - 172 words
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Page 2 Advertisements
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Advertisement334 1977-12-22 2 n u FROM FEDERAL PUBLICATIONS LIM BIAN YAM c a step-by-step guide An easy-to-understand yet fully rewarding book on flower arrangement. Floral Creations, with its unusually lucid text and thoughtful illustrations, could make an expert flower arranger of even the veriest novice. The joy of this book, however, is that334 words
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Page 2 Miscellaneous
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Miscellaneous324 1977-12-22 2 THE WEATHER WEATHER report for 24 hour* prior to 7.30 pm on Dec 21 at Singapore airport. Maximum Temperature 24.2° C Associated Humidity 86 Minimum Temperature i. 23.7° C Associated Humidity 98 Hours of Sunshine 0.45 Rainfall in Millimetres 11.3 Total Rainfall for the Month 125.8 Total Rainy Days for324 words
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Page 3 Advertisements
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Advertisement137 1977-12-22 3 A luxurious and comfortable split-level Largest Hilltop Garden House in Thomson area GOLDEN HILL PHASE s#lil l_U Af :)> K Vi i V. 7 y li't r X 9 HILLTOP 2-STOREY 1 SPLIT LEVEL SEMI DETACHED BUNGALOW J HILLTOP 2 STOREY SPLIT LEVEL TERRACE HOUSE GOLDEN HILL LOCATION PLAN 'LUXURY137 words
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Page 3 Miscellaneous
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Miscellaneous596 1977-12-22 3 THE TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 4 Had a bite at Ted's, possibly (8) 7 A cover to regard as a repair (3. 5) ft One side of a figure (8) 10 Job a hothead's in the middle of (5) 13 Cover some prawns, perhaps (4) M No villain gets596 words
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COMPANY NEWS
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Article, Illustration1917 1977-12-22 4 DAVID CHOW - By DAVID CHOW THE Carlsberg story in Malaysia Is In many ways a classic tale of the determined nurturing of a difficult market. Mounting a sustained marketing campaign right from the very start has paid off handsomely for the company. Even though saddled with glaring losses In1,917 words
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Article427 1977-12-22 4 Current E* Date Total for Total for payment Date payable the year previous yaar Toshiba 12%TE Nov 29 Dec 21 12% UIC 20% Dec 5 Dec 22 20% 16% B.M. Trust 10%. Dec 7 Dec 22 10% 15% Sovran 6% Dec 2 Dec 22 6% 6% K Lanjut427 words
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Article44 1977-12-22 4 Encik Taib bin Hj. An dak has been appointed a director of United Malacca Rubber Estates Bhd from Dec 9, 1977. Dato Khoo Kay Peng, deputy chairman of Central Sugars Bhd. has also been appointed managing director from Dec 15, 1977.44 words
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COMPANY MEETINGS
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24 1977-12-22 4 THE following company meetings are due: Dec 22 on 31st Floor, UIC Building, Shenton Way, Singapore 1 at 9.30 a.m.24 words
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22 1977-12-22 4 Dec 23 at its registered office, Jalan 13/4 (Jalan Bersatu) Petallng Jaya, Malaysia at 12 noon.22 words
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Article472 1977-12-22 4 FT. WITH operating profits from banking and distribution and services showing strong growth, pre-tax profit of Charterhouse Group climbed from £7.4 million to £8.51 million in the year to Sept 30, 1977. Turnover, excluding development capital, banking and associated companies, was £143.98 million against £131.17 millionFT. - 472 words
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168 1977-12-22 4 UPI TOKYO: Kawasaki Steel Corp. will shortly let Brazil utilise Its waterfront facilities on Mindanao Island, Philippines, for transshipment of Brazilian Iron ore to be exported to Asian countries, Kawasaki said yesterday. Kawasaki, a giant steel maker, has accepted a recent Brazilian governmentUPI - 168 words
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Article1464 1977-12-22 4 December 20 TRADING In options on tne Chicago Board Options Ex- change came to 93,191 contracts on Tuesday compared i with 83.884 contracts on Monday. OPTION JAN APL JLY STOCK Alcoa 40 4 1/8 4 7/8 UNTRD 435/8 Alcoa 45 13/16 2 3 43 5/8 Alcoa 501,464 words
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Page 4 Advertisements
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Advertisement387 1977-12-22 4 A Major New Talent in Penguins Paul Theroux Paul Theroux, an American now living in London, has been acclaimed as one of today's major writers compared with Graham Greene and Joseph Conrad. The Great Railway Bazaar, his latest in Penguins is the true story of Theroux's. railway odyssey from London387 words
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INTERNATIONAL COMPANY NEWS
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200 1977-12-22 5 EUROPEAN COMPANIES Reuter. PARIS: Rhone-Poulenc Textile will run down the Industrial rayon sector In which 6,000 of Its 13,000 workforce are employed, Rhone-Poulenc director Jean Gandols told shareholders. The other rayon Interests of the artificial fibre company will be maintained at present levelsReuter. - 200 words
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Article169 1977-12-22 5 Reuter. FRANKFURT: German soya mill Soja Mainz Is declaring force majeure on all soya product deliveries in the next few days because of a fire at Its factory at the weekend, managing director Eugen Schmidt said. He said the company is unable to make any ImmediateReuter. - 169 words
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Article153 1977-12-22 5 THE agricultural division of Pfizer, a UK subsidiary of an international company of Sandwich, Kent, has chosen a site at the Port of Liverpool for a new animal feed processing and distribution plant. Work has begun on a 1.2hectare site at Lewis's Quay, Birkenhead, where a large153 words
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Article154 1977-12-22 5 Reuter. FRANKFURT: The Soviet Foreign Trade Bank is raising a US$3OO million sevenyear Eurocredit at a margin of y* per cent over London interbank offered rate, Euromarket bankers said. Joint lead managers for the credit, which is in early stage of preparation, are Cie Financiere de laReuter. - 154 words
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160 1977-12-22 5 ASIAN COMPANIES AFP OSAKA: Toyota Motor hopes to sell 2,860,000 motor vehicles in fiscal 1978 beginning next April. Mr. Selshl Kato, president of Toyota Motor Sales Co, the sales arm of Japan's largest automobile maker, Toyota Motor, said that his company planned to exportAFP - 160 words
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Article103 1977-12-22 5 Reuter. TOKYO: Toyo Kogyo Co said it has reached an agreement with Ford Motor Co of the US to increase production of small-sized trucks for Ford to 8,000 units a month from the present 7.000. A Toyo Kogyo spokesman was commenting on Sumitomo Bank president Ichiro Isoda'sReuter. - 103 words
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Article88 1977-12-22 5 TOKYO: Two Japanese firms have announced that they have formed a Joint company to design, manufacture, assemble and install storage tanks for oil and petrochemical products and special low temperature tanks for liquefied gas and natural gas. The two companies are Mitsubishi Heavy Indus- tries and Chiyoda88 words
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173 1977-12-22 5 Reuter PARIS: Chrysler France, part of the US Chrysler car group, said operating profit this year will be sharply down from 1976. Figures for 1976 operating profit w(ere not given but net profit last year was 214.6 million francs, after I 110.6 million lossReuter - 173 words
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Article82 1977-12-22 5 Reuter. TURIN: Fiat net 1977 profits are expected to be similar to last year's 66.5 billion lire and the dividend is likely to be unchanged from last year's 150 lire, a company spokesman said. A company statement gave no figures but said this year had been much the sameReuter. - 82 words
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Article90 1977-12-22 5 AFP LONDON: Twickenham Studios, cradle of the British film industry, are now in effect under Arab control, it was learned here. Moustapha Akkad, producer and director of "The Message." has rented the studios from a US consortium that acquired them three months aaro. Mr. Akkad, who lives In LosAFP - 90 words
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Article83 1977-12-22 5 Reuter. LONDON: One of Britain's oldest family firms, the coin-dealers Spink and Son, is to be taken over by a shipping and investment conglomerate. Business sources said a majority of Spink shareholders had accepted an offer from the Andrew Weir Company worth £5 million. Spink, which deals In coins,Reuter. - 83 words
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90 1977-12-22 5 AFP. HONGKONG: The finan-cially-troubled Japanese shipping company Japan Line may be sending representatives here for charter re-negotlations with Eastern Asia navigation officials. However, these reports could not be confirmed from any source including Eastern Asia, the main quoted company of Y.K. Pao's worldwideAFP. - 90 words
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Article69 1977-12-22 5 Reuter. BANGKOK: Thailand's national carrier, Thai International, has announced a pre-tax profit of US$5.B million for the fiscal year ending Sept 30, 1977. Thai International chairman, Air Chief Marshal Kamol Dechatungka, said that the profit represented an Increase of $905,000 over the previous year and was the 13thReuter. - 69 words
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Article24 1977-12-22 5 SYDNEY: Total Australia plans to spend around ASI2O million expanding its Matravllle, New South Wales oil refinery, assistant general manager Frank Rushworth said.24 words
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891 1977-12-22 5 NORTH AMERICAN COMPANIES Washington Star WASHINGTON: America's sixth longest railroad the Chicago, Milwaukee, St. Paul Pacific went into bankruptcy late on Monday, and government officials Immediately made Plans that could lead to a major mid-western rail merger. The Milwaukee which stretchesWashington Star - 891 words
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Article264 1977-12-22 5 Reuter YORK: Kennecott Copper Corp said, based on a preliminary tally, It received slightly over 90 per cent of the common stock of Carborundum Co, including shares subject to guarantees of delivery, under its offer to pay US$66 for each Carborundum share. It also said itReuter - 264 words
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Article168 1977-12-22 5 Reuter. MONTREAL: Canadian Pacific chairman lan Sinclair predicted slower growth for the company In 1973. A number of labour agreements at CanadianPacific subsidiaries are due for renewal In 1978 and there are heavy excess Inventories In a number of resource commodities, Sinclair said. CP RailReuter. - 168 words
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Article136 1977-12-22 5 Reuter. MIDLAND, (Michigan): Dow Chemical Co president Zoltan Merszel said that while he expects the US dollar to continue Its decline in 1978, this should not be detrimental to Dow earnings during that year. He said he expects the dollar to drift downwards In comparison with other majorReuter. - 136 words
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Article90 1977-12-22 5 Reuter. WASHINGTON: US third quarter corporate pre-tax profits were revised upwards to a seasonally adjusted annual rate of U*****.8 billion from the original reported $171.6 billion, the Commerce Department said. This revision still left corporate profits below the $174 billion reported for the second quarter, butReuter. - 90 words
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Article77 1977-12-22 5 Reuter. CHICAGO: Standard Oil Co (Indiana) said its board approved a record 1978 capital and exploration budget of US$2.3 billion, 21 per cent higher than the $1.9 billion in 1977 Indiana Standard attributed the increase primarily to higher expenditures for exploratory and development drilling in the US alongReuter. - 77 words
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Article35 1977-12-22 5 Reuter. ARMONK: International Business Machines Corp said directors voted to increase the quarterly dividend by US3B cents to $2.88 a share from $2.50, payable on March 10 to holders on record since Feb 9.Reuter. - 35 words
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Article45 1977-12-22 5 Reuter. NEW YORK: Manufacturers Hanover Corp said it increased the quarterly dividend rate on common stock to 52 US cents a share from 48 cents. The first payment under the new rate will be made on Jan 25 to shareholders registered on Jan 5.Reuter. - 45 words
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Article28 1977-12-22 5 MINNEAPOLIS: Sales of Burger King topped US$l billion for the first time In the 12-month period ended Nov 30, the owner of the fast-food chain said.28 words
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364 1977-12-22 5 NYT. NEW YORK: Scientists at Bell Telephone Laboratories have disclosed a plan for sharply increasing message-carrying capacity of the American Telephone and Telegraph Co domestic communications satellites In the 1980s, particularly for low-traffic areas not served directly by today's communications satellites. The new satellitesNYT. - 364 words
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Article111 1977-12-22 5 Reuter. NEW YORK: Exxon Minerals International, a subsidiary of Exxon Corp, has offered US$2.Ol a share for 87 per cent of Compania Minera Disputata de las Condes now owned by the Chilean state mining agency, the parent company said. The Exxon offer was for 53.411,075Reuter. - 111 words
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Article74 1977-12-22 5 Reuter CHICAGO: FMC Corp said its outdoor power equipment division has entered into a long term engineering and marketing agreement for a line of medium horsepower agricultural tractors manufactured by Iseki Agricultural Machinery Manufacturing Co of Tokyo. Japan. FMC said the division will market theReuter - 74 words
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Article137 1977-12-22 5 LOANS Reuter. FRANKFURT: The Brazillan state nuclear authority Nuclebras has signed bank loans totalling around 220 million marks as part of the financing for the German-Brazilian nuclear I project, Dresdner Bank said. A German Government guaranteed credit of around 135 million marks is being granted by a banking consortiumReuter. - 137 words
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Article96 1977-12-22 5 Reuter LONDON: Brazil's largest telephone company, Telecom unlcacoes de Sao Paulo, has signed a US$lBO million three tranche Euroloan agreement. Chase Manhattan said as lead manager. The loan was increased from an original $130 million to the final figure of $180 million, 30 million of which was provided byReuter - 96 words
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Article91 1977-12-22 5 Reuter PARIS: Banque Worms said it managed a 118 million franc export credit and US$2O.5 million medium term loan to finance construction of a $46 million hotel in Bahrain. The 344-room hotel will be built for United Hotel (Bahrain) Company WLL by the French companies Saintrapt et Brice andReuter - 91 words
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Article28 1977-12-22 5 Reuter. FRANKFURT: The 100million mark eight-year 7 per cent Eurobond for Petroleos Mexicanos (Pemex) was priced at 100 1/4 per cent, lead manager Deutsche Bank said. Reuter.Reuter. - 28 words
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Article109 1977-12-22 5 Reuter. LONDON: The African Development Bank has signed a US$l25 million ten-year Euroloan agreement, the largest Eurocredit ever arranged for the bank. Chase R anhattan said as joint lead manager. The loan, which was increased from $75 million due to favourable response from participating banks, carries an interest marginReuter. - 109 words
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Article86 1977-12-22 5 Reuter. LONDON: Senegal is raising US$6O million for seven years while Madagascar is raising $30 million for six years on the Euromarkets In syndicated loans expected to be signed early next year, bankers here said. The Madagascar credit will be for purchase of a Boeing 747 aircraft to replaceReuter. - 86 words
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Article91 1977-12-22 5 AFP. OTTAWA: The Canadian Company for Export Expansion has signed an agreement for $7.6 million in financing to support the sale by Canadalr of two CL--125 aircraft for the Royal Navy of Thailand. The over-all contract is for $8.9 million. The deal is the first sale of CL-125SAFP. - 91 words
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Article78 1977-12-22 5 Reuter NEW YORK: Philip Morris said it established a US$25O million Eurodollar revolving credit agreement with 23 international banks to mature on Nov 30. 1982, and replacing its existing $180 million Eurodollar agreement. The existing offer was due to expire on Sept 15, 1979. The new facility, Philip MorrisReuter - 78 words
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Article29 1977-12-22 5 Reuter. LONDON: Montague Meyer said it has raised a £15 million seven-vear loan to finance capital working requirements. The loan was arranged and syndicated by Hambros Bank. Reuter.Reuter. - 29 words
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Advertisement177 1977-12-22 5 AUSTRALIA and SOUTH WEST PACIFIC PAPUA NEW GUINEA 11 Wk FIJI NEW ZEALAND w 7 At Bank of New South Wales we really know this area...we should... we've been here for 160 years and are the largest commercial, finance, investment and banking complex in the region. So if you need177 words
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Article2379 1977-12-22 6 If77 Hick Low Compaay Lut Sale +orGr't div Div C'VT Gr't y'ld Net P/E Vol C000) Day High Low section on* INDUSTRIALS 154 204 110 240 88' 205 109 200 422 140 134 105 58 212 57* 155 150 182 350 91 Acma Alcom Allied Choc Bata2,379 words
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Article1490 1977-12-22 6 BID and offer price* officially listed and buimi ia and reported to the Stock Exchange of Singapore yesterdav with tbe number of share* traded shown in bracket* in lota of 1.000 uniU unless otkerwiae specified. All time Settlement Contract* are quoted after the world "Sett". Big Board1,490 words
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Article1388 1977-12-22 6 BID and offer price* officials liated and buiine** in and reported (o the Kuala l.umpur Stock Exchange yesterday with the number of shares traded shown in bracket* in lota of 1,000 unit* unlet* otherwise specified. industrial* Ajinomoto (2.118 2 16S). Alcorn (1.705) (1) 1.70. *2) 1.108) (2)1,388 words
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Article56 1977-12-22 6 STRIKING prices of the stock options officially iisted on the Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday, with the number of options traded shown in brackets. C and C (Dec 51.90) (0.685) Inchcape (March $2.10) (0.I6B) Sime Darbv (March $3.40) (0.07B)56 words
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Article159 1977-12-22 6 1 SINGAPORE UNIT TRUST INCOME BOND UNIT t (Muigwi' prion for Dec 22) (Current p rice*) The Commerce 1.78 1.89 INCOME BOND 109 1.1S The Saving Fund 105 1.11 MARA BUMIPUTRA FlJNn S pore Prog Fund 0.84 0 89 (Managers' price* i Cor Dec 22) 2 25 2159 words
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Article86 1977-12-22 6 4 3/4% 1/5/79 (250.000) (100 358 100.455) 5 1/4* 15/10/79 (250.000) (100 908 101.10S) 4 3/4% 15/9/80 (250.000) (99.258 99.655) 6 3/4% 1/12/80 (250,000) (103.70B) 5% T F 15/4/81 (250.000) (*****B) S%TF 1/5/83 250.000)(99.958 100.10S) 7 1/4% 15/4/88 (250,000) (100 358) 7 1/4% 1/5/87 (250*000) (100.458 100 655)86 words
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Advertisement592 1977-12-22 6 sinGapura FORUM gl HOTEL lOMndMt 1 Hi! 586 Orchard Road, S'pore 9. Tel: *****2 Hotel Tsunjgapore 406/407 Havelock Road, S'pore 3. Tel: *****1 Pebble Bar Experience the unique expression of T&nla Great Sound Big Show You'll love the dynamic and versatile Tanla For memorable yester hits and today's favourites. Only592 words
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Article, Illustration451 1977-12-22 7 PRICES closed t shade easier in lacklustre trading on the Stock Exchange of Singapore yesterday. There seemed to be an unwillingness on the part of both buyers and sellers to make fresh commitments as reflected in the small lots transacted on the counters that were traded. Bid and451 words
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Article445 1977-12-22 7 QUIET and lacklustre conditions persisted on the Kuala Lumpur Stock Exchange yesterday with prices closing slightly easier in light trading. Market sentiment remained poor and business was largely confined to a handful of volatile issues which experienced some light selling pressure. A few firm spots, however, were445 words
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INTERNATIONAL STOCKS MARKETS
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Article384 1977-12-22 7 HONGKONG: The market closed narrowly mixed yesterday with an easier bias In relatively quiet trading, dealers said. The Hang Seng Index dropped 0.94 to the year's low of 411.03. Hongkong Bank shed 10 cents to HK $17.80 In generally steadier blue chips after Tuesday's setback. Jardine MiUmmd ended unchanged384 words
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Article473 1977-12-22 7 TOKYO: Share prices eased slightly in moderate trading due to lack of fresh stimuli yesterday, dealers said. The Dow Jones average lost 4.63 yen to close at 4.896.56, with volume of 270 million shares. The New index was 364.88 up 0.40. Constructions and civil engineerings. which led early gains473 words
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Article391 1977-12-22 7 SYDNEY: Most Industrials firmed yesterday while mines were weaker and oils gained on a forecast of Increased exploration next year, dealers said The Sydney All-ordinaries Index fell 0.54 point to 457.24. Some leading Industrials eased with BHP dropping 10 to 5.56 and CSR five to 2.80. Banks were mixed391 words
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Article166 1977-12-22 7 MANILA: The market closed firm yesterday with turnover falling to 1.95 million pesos from Tuesday's 4.04 million, dealers said Mines led the activity primarily because of favourable copper prices abroad. Atlas and Lepaato rose four and three points respectively h and other mines firmed slightly as did Oriental and166 words
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Article121 1977-12-22 7 DEC 21 Bahts Asia Fibre 247 -4 Bangkok Bank 378 unch Bangkok Invest 336 -4 Bangkok-Metro-politan Bank Bata 720 -15 Bern Jucker 500 -6 Charoong Thai Wire 293 Dumex DusltThanl 293 -40 Faber Merlin First Trust 296 Genera Finance Indo-Thai Industrial Finance Corp 2105 20 J And J Ho121 words
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Article310 1977-12-22 7 AMSTERDAM: Share prices fell In line on Tuesday with Wall Street and the further decline of the dollar, dealers said. Royal Dutch led Dutch Internationals lower closing 0.60 guilders down. Hoogovens was the sole gainer firming o.2oafter announcing it will be making fewer redundancies than previously expected Elsewhere, stocks310 words
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Article177 1977-12-22 7 BRUSSELS. Shares closed mixed In quiet trading on Tuesday, bourse sources said. FN, Cockerill, Unerg, Intercom, Finoutrmer and Arbed rose while Sofina, Vieille Montafne, Solv»y, St Roch, Cometra and Andre Dumont fell. UCB lost two per cent after announcing It does not expect to pay a 1977 dividend. In177 words
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Article336 1977-12-22 7 FRANKFURT: The continued slide in the dollar and investors' unwillingness to take up new positions before the yearend caused shares to fall further on Tuesday though hopes of a six-month freeze on oil prices stabilised the market briefly, dealers said. Motors and stores showed the biggest losses, with Daimler336 words
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Article170 1977-12-22 7 MILAN: Share prices closed generally lower in modest dealings on political and economic uncertainties on Tuesday, bourse sources said Both Pirelli*, Montediton. Anic, Generali, Snia Vitcoaa and Montefibre fell. Fiat was lower In spite of company forecasts of profits similar to last year's levels and a maintained dividend Olivetti170 words
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Article379 1977-12-22 7 n PARIS: Prices fell an average two per cent on Tuesday after a delayed start due to a staff union meeting, dealers said. Major losers Included Locafrance. which fell six per cent ft while L'CB lost five per cent, BOUYGUES 2 2 per cent. Radiotechnique 4.4 per ceni. and379 words
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Article207 1977-12-22 7 THE market report was delayed. The Credit Suisse Index fell 2 1 points to 246.1. DEC 20 Francs Actions Suisses 274 -5 Alusuisse Br 1370 -35 Alusutss- Reg 575 -15 Brown Boverl Br 1630 -35 Ciba Geigy Br 1210 -35 ClbaGeigy PC 940 -25 Ciba Geigy Reg 610 -12207 words
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Article380 1977-12-22 7 re JOHANNESBURG: Gold shares a closed up to 50 cents lower in i- quiet trading on a general lack of interest and lower bullion i- indications on Tuesday, dealers it said. t. Financial minings were little >- changed in featureless trading, d D» Been finished one cent up at380 words
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Article303 1977-12-22 7 TORONTO: Share prices remained lower in fairly active trading on Tuesday, with the metals, gold and oil indices posting 10 point losses or more The Composite index fell more than eight points and declines led advances 287 to 161. In metals issues Hudson'* Bay Mining lost IS to 16S303 words
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Article992 1977-12-22 7 NEW YORK: Stock prices finished broadly lower on Tuesday for the fourth straight session in active trading. Investors, concerned about the US dollar's continued slide in overseas currency markets apparently paid little attention to the news that the economy's rate of growth in the third quarter was revised992 words
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Article62 1977-12-22 7 FINANCIAL TIMES INDUSTRIALS Tuesday 479.6 Monday 469.8 Week Ago 476.9 DOW JONES AVERAGE INDUSTRIALS Tuesday 806.22 Monday 807.95 Week Ago 815.23 LONDON DOLLAR PREMIUM Tuesday 90 to 90%. Monday 91* to 91% H.K. HANG SENG Tuesday 411.97 Monday 414.82 Week Ago 418.21 SYDNEY INDUSTRIALS Tuesday 401 05 Monday 399.5362 words
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Page 7 Advertisements
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Advertisement415 1977-12-22 7 moico 'SINGAPORE Tanglin Circus, S'pore 10. Tel: *****1 gyH Hotel Royal mm. RAMADA* Newton Road, S'pore 11. Tel: *****1 The season's good cheer, Abounding, Exciting. As it is every Christmas and New Year. And this year, even more sparkle, more festivities. Start your celebrations. At the Marco Polo. Ring *****1415 words
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COMMODITY REPORTS AND PRICES
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Article407 1977-12-22 8 OPENINO quotations on the Singapore rubber market yesterday were marked up one cent following higher levels after Tuesday's close and rose a further one cent on shortcovering and trade buying, dealers said. Volume was small. The morning session closed quietly firm with January One RSS407 words
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Article29 1977-12-22 8 Rubber: Dec 21 Singapore: January 193.00 cents (up 1.50 cento) Malaysia: 194.75 cento (up 1.75 cento) Tins: $1,745 (down $15) Official offering: 275 tonnes (up 49 tonnes).29 words
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Article287 1977-12-22 8 Prices In cents per kilo yesterday: Noon (per kilo) Close (per kilo) Buyers Int. 1 R.S.S. prompt f.o.b. 192.00 Int. 1 R.S.S. January 193.00 Int. 1 R.S.S. February 194 25 Int. 2 R.S.S. 191.75 UK/Cont. 190.75 Int. 3 R.S.S. 188.25 UK/Cont. 187 25 Int. 4R S.S. 185.75 UK/Cont.287 words
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Article96 1977-12-22 8 NOON SSR and SMR prices yesterday: HAS Jai nuary February (Cut Buyer rreat Mth) Seller* (farm Buyeri aniMth) Seller* (CH 'taper kg) (cenuperkc) SSR 20 SSR SO (1-ton pallet) (1-ton pallet) 188 50 18« 50 190.SON 188.SON 189.50 187.50 191.50N 189.SON MRELB SMR5CV SMR5L SMR 5 SMR96 words
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Article381 1977-12-22 8 TRADING improved slightly with prices of all the commodities, except pepper, holding steady at the Singapore produce market yesterday. Coffee saw increased inquiries from the Western countries which resulted in more sales made than the day before. Dealers reported that prices were going slightly above official levels. About381 words
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Article393 1977-12-22 8 LONDON, Wed. Terminal coffee closed the morning quietly steady £17 higher to £35 lower. Volume totalled 1,061 lots including four options and around 200 lots of cross trades. Near January, an earlier ft rket feature eased slightly to close the session £17 up after opening with a gain of393 words
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Article69 1977-12-22 8 LONDON tt<rdam US dOUarS per ton Malaysian 5% Ifa bulk Feb Sumatra 5% f f a Dec Jan Feb March April Nigerian 5Sfta bulk Sumatra Jan Zaire (Belg francs per kilo) Tuesday 400 sir 525 sir 507 50 sir 402 50 pd 485/487.50 pd 405 sir unq 51069 words
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Article261 1977-12-22 8 LONDON, Wed. Terminal cocoa was lower during a prolonged and active opening call by £29 to £7.50 although end call prices were variously up from the lows. Dealers said sentiment was again directly influenced by strength of sterling and chart factors, plus lower overnight levels in New York. GUI261 words
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Article166 1977-12-22 8 THE STRAITS! tin price In Penang yesterday fell by M»l5 to $1,745 per plcul on an official offering up 49 tonnes to 275 tonnes. The market continued weaker mainly affected by the easier sentiment on the London Metal Exchange on Tuesday while the slightly larger volume of tin166 words
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Article55 1977-12-22 8 SHIPMENT of Straits Refined tin from Penang between Dec 1 to Dec 15, 1977: Destination Skipped Afloat TUM TMM Canada 10.00 Continent 815 00 125 00 India 6 00 Japan 770.75 51.00 West Alia 30 00 30.00 Pacific 82.00 18.00 Singapore 15.00 OK SO 00 USA 134 0055 words
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Article206 1977-12-22 8 LONDON, Wed. Terminal sugar opened £0.80 to £0.10 per tonne up from yesterday In relatively light trading. Strength of sterling tended to limit gains, dealers said. Both the London dally raws and whites prices were unchanged at £106 and £112 per tonne, respectively. Terminal sugar eased late morning under206 words
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Article229 1977-12-22 8 HONGKONG, Wed. Sugar futures closed slightly firmer in fairly quiet trading. Gains ranged from 0.07 to 0.11 US cents, In line with the overnight trend In New York, dealers said. Straddle transactions between March and October were traded at a spread of one cent. Turnover rose to 13229 words
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Article195 1977-12-22 8 YARN and cotton In Hongkong dollars, spot ex-godown. C *ST" t S Blue Phoenix 20 s 1.800. 32 s 2.055, 40 s 2 120 (per bale of 400 lbs). Pisoe Goods: China Butterfly and Globe brand unq. Dragon Head unq, p»e Lambs unq FVover and Butterfly unq. Flying195 words
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Article113 1977-12-22 8 HONGKONG, Wed. The market was quiet with prices up to 30 cents lower, dealers said. Total turnover was 411 tons comprising Thais 120, Kwangtungs 190 and Australlas 101. The only arrival was 480 tons from Kwangtung. (Prices in HK dollars per ptcul, exgod own). Thai White: 100 pet old113 words
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Article183 1977-12-22 8 CHICAGO, Wed. After trading in a narrow range to either side of Monday's close, soybean futures yesterday finished the session on the upswing and closed 4% to IV4 cents a bushel higher at or Just below the day's highs. Pdces weakened on early speculative selling but turned back upward183 words
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Article77 1977-12-22 8 CHICAGO, Wed. Wheat futures yesterday closed with gains of 2to four cents a bushel at the end of lightly traded session. The market displayed a firm undertone through the session and sellers were reserved. Professional buying helped encourage short- covering and speculative buying which took prices upward and absorbed77 words
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Article274 1977-12-22 8 LONDON. Wed. Copper was unchanged for wirebars. Cathodes were £1 down for cash and £0.50 lower for Three Months. Moderately higher premarket levels, which reflected overnight US futures and a barely steady trend In sterling were not maintained In the ringwhere prices sagged. Dealers reported a lack of follow-through274 words
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Article203 1977-12-22 8 LONDON, Wed. 811ver rose 2.7 pence for cash and 3.0 pence for Three Months. Dealers said prices were marked up at the start of the pre-market reflecting overnight gains In New York and currency factors. High gold helped to attract modest fresh buying Interest which was met by profit-taking.203 words
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Article349 1977-12-22 8 YESTERDAY on the Singapore gold market, most operators had prepared themselves with squared books ahead of the festive season. opened at S$12,126 and drifted almI*H{* 10 cto* at SI12.115, with very little turnover In LONDON, similar sentiments prevailed in the market wnen It opened at US$160.20/160.40 and eased to349 words
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Article52 1977-12-22 8 LONDON, Wed. zinc was unchanged all round. Prices advanced in the pre-market following steadier copper and the movement was also helped by light chartist buying in- i terest. Sales were 975 tonnes. 1 On Tuesday, zinc closed with J losses of £7.50 for cash and £7 75 j tor52 words
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Article61 1977-12-22 8 LONDON, Wed. Lead was £1 up all round at the end of the morning ring. Ring sales were 2,675 tonnes. On Tuesday lead closed with losses of mostly £5 per tonne. The market was steady during the afternoon in slow trading. Three Months traded from £374 on the pre-market61 words
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MONEY AND EXCHANGES
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Article442 1977-12-22 8 TRADING at the foreign exchange market slowed down considerably yesterday ahead of the Christmas holidays. Dealers said that trading was very much on the thin side and that this will probably go on till the turn of the year. The dollar barely moved against the other major currencies.442 words
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Article42 1977-12-22 8 ACBC 7 Alfrmnt Bank 7 Bangkok Bank 7 HSRT 1 Bank of America 7 Bank of China BankofTokvo 7 7 Malayan Banking Bank Nefara Indonesia 7 OCBC OUB Chartered Bank 7 UCB Chaae Manhattan DBS 7 7 UMBC COB42 words
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Article162 1977-12-22 8 Asian rates ASIAN currency deposit interbank rates as at close on Dec 21: LS Dollar. (Spot) Oft,r Brf 'days 7 1/4 7 1/1 1 mth 8 9/18 8 7/16 2 mths 6 15/16 6 13/16 3 mths 7 1/B 7 8 mths 7 9/16 7 7/16 9 mths 7 5/8162 words
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Article48 1977-12-22 8 RANGE of prices offered by discount house* on Dec 21: Overnight 2* to 3WK Call deposit 3fc* dosing Buying Selling 3-Month Treasury bills 31/4 3 1/8 3-Month Bank bills 4 7/8 4 3/4 3-Month CD 5 5/8 51/2 6-Month CD 5 7/8 53/4 Source: National Discount Co48 words
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Article198 1977-12-22 8 Euro rates LONDON, Wed. Eurodollar deposits rates were quietly steady, dealers said. Among shortdates, Christmas holiday considerations pushed the Thurs/ Frl rate up to 25-1/2 25-7/18 per cent while the long weekend (Dec 23-28) was quoted around 3-1/18 215/18 per cent. Seven days fix Incorporates the turn of the year198 words
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Article41 1977-12-22 8 THE Monetary Authority of Singapore Invites banks and discount houses to tender a total of SS2S million of 91- day Treasury bills to be issued from Dec 27 to 30. Each tender must not be less than $250,000.41 words
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Article57 1977-12-22 8 AUBTRALIA/NZ exchanges on Dec 20: AUBTRALXA US dollar 1 1300/1 1361 Sterllnf 0 6092/0 0023 m ll bujrtnt rmte* Bt«rtin« 0 6246 US dollar 1 1684 Ninety-day forward buying rate*: Sterling 0 6050 US dollar 1.1328 NEW ZEALAND Sterling 0.5415/0 5386 US dollar 1 0301/1 0101 Ninety-day airmail buying57 words
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Article256 1977-12-22 8 LONDON, Wed. Sterling opened firmer against the dollar but slightly lower against its trade weighed ln- dex while the dollar tended marginally softer in quiet, > thin opening business, 1 dealers said. Most centres are barely active and traders have Just about closed their positions 1 with any business256 words
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Article211 1977-12-22 8 NEW YORK, Wed. The dollar yesterday recovered sharply, more than recouping the morning's losses, and ended above Monday's closing levels In many cases, dealers said. Trading remained very thin, however, as many participants have closed their positions for the year, they said. With the year-end adjustment under way,211 words
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Article171 1977-12-22 8 TOKYO, Wed. The dollar for overnight delivery closed at 240.71 yen, little changed from yesterday's close of 240.75 but up from a 240.60 opening, dealers said. Trading was slow with volume $211 million. No Central Bank Intervention was detected, they said. The market was calm throughout the day in171 words
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Article136 1977-12-22 8 HONGKONG, Wed. The US dollar weakened towards the close In thin trading after earlier holding around New York's closing levels, dealers said. It eased to US$l,B7BO/90 against sterling from 1.8770/80 overnight In the US, to a normlnal 2.0300/20 marks from 2.1200/20. Most dealing was confined to small commercial orders136 words
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Article259 1977-12-22 8 EUROBOND prices quoted on Dec 21: Slraitbu Bid OChr '1*18 82 97 00 *7 79 Hydro Quebec 9 92 97 00 98 00 Flaons8*92 M 00 96.79 Telmex9*84 90.90 99.00 RHM«« 86 90 97.79 TNT 9 82 96 29 96 79 Midland Bank 92 90 00 90 79 Ooetaverken259 words
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Article46 1977-12-22 8 FRANKFURT exchange* opening quotes on Dec 21: U8 >.1130/10 <*. 10M/ 1110) CM 1 #430/80 8U 3 978/000 D>1 02 40/00 8 Fr 104 30/70 Ut 2.41/43 T Tt 44 40/80 N Kr 40.07/41.12 B Ft icon) 8 368/388 B Fr (fin) 8.30/32 Yen 0 8785/880546 words
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Page 8 Advertisements
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Advertisement169 1977-12-22 8 Don t let the language barrier stop vou from wider 'i. contacts I k I i'x# O\P v/> to c\ 3^ tr* •SS^Ta p.u *.e* A «o**T VAO I \y* e j V^ S ~(Oe i \e*» s nN O fMli ip YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it169 words
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TRANSPORT AND COMMUNICATIONS
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184 1977-12-22 9 AFP. SEOUL, Wed. Korean-re-gistered ocean-going ships earned only 18 to 20 per cent of the total freight charges Korea paid for cargos moving in and out of the country from 1971 through 1978. According to statistics released by the Korea Marltime and Port AuthorityAFP. - 184 words
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Article209 1977-12-22 9 AP. LONDON, Wed. The recent firm tone for US Gulf grain loaders remained the main feature of an otherwise dull day of trading on the London freight market yesterday. A 76,000 tonner taken by Toepfer to Holland secured U555.25 FIO and trimmed an unchanged rate, while aAP. - 209 words
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Article143 1977-12-22 9 AP. MASSENA, (New York), I Wed. Sixty-three ocean- i going vessels were still racing winter out of the St. < Lawrence Seaway yester- 1 day, seven days after the seaway closed for the season. j Six of the ships were at the western end of LakeAP. - 143 words
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Article66 1977-12-22 9 Reuter LONDON. Wed. The Far Eastern freight conference. Japan/ Europe freight conference Philippines/ Europe conference, Sabah, Brunei and Sarawak freight conference announce the currency adjustment factors (CAF) on vessels com- mencing to load at ports In Holland and Belgium will be raised to 36 from 26Reuter - 66 words
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Article146 1977-12-22 9 AP. BALTIMORE, (Maryland), Wed. The Port of Baltimore is getting a financial boost from the Nissan Motor Company, which has decided to resume use of the port for some of its operations. For the next five years, the company, which makes Datsun cars, will sub-lease dockAP. - 146 words
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1563 1977-12-22 9 lATA TALKS WERE FRUITLESS Reuter NEW YORK, Wed. The first salvos have been fired in a fare war among North Atlantic airlines, and industry observers expect tourists planning a trip next year will find the best bargains in air travel for years. The airlinesReuter - 1,563 words
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Article412 1977-12-22 9 THE well-known Maersk Line, incorporated in Denmark, operates six regular liner networks to and from Singapore: 1.) Trade: US/Singapore/ US. Type of service: fully containerised express service. Frequency: Weekly vessels arrive Singapore every Monday and depart Tuesday. Porta served: To and from Toronto, Montreal, Halifax, Boston, New York412 words
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Article, Illustration343 1977-12-22 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Barge LS 74 (P/O) (1100 after Meliton subject gas free) 18 Cornelia Maersk (2359) 8/9 Kalsrayo (0600 after Duteous) 42/43 King River (0600 26 Perak (1800 after Lumut) 21 East Samson (0600) 25 Samulun (1600 20 Sin Klang (after Palm Sea Horse) 15/16343 words
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Article49 1977-12-22 9 Reuter. NEW YORK, Wed. The Cun&rd Shipping Company unveiled two new luxury suites aboard the liner Queen Elizabeth in which a 90-day Pacific cruise for up to four people will cost US$l6O,OOO (*****,000). The suites will cost $9,840 rising to $11.320 In the peak holiday months. Reuter.Reuter. - 49 words
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Article636 1977-12-22 9 ARRIVALS Service Local Operator Number Time From CPA MAS OIA CX003 MH682 QA980 0145 HKO 0810 KCH 1030 HLP CPA SIA CX710 SQ209 1035 HLP 1045 HLP OIA OIA PAL GA944 OA 908 PR501 1055 PKU 1100 MES 1125 MNL RBA MAS BI325 MH684 1155 BWN 1155636 words
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Page 9 Advertisements
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Advertisement336 1977-12-22 9 Slow boat *j tS|K *gm MM w I w CHINA TRADE QUARTERLY Far East Publications RT 1913, Hanglung Centra. Peterson Street, Causeway Bay, Hong Kong. ~j PI ease enter my full subscription to China Trade Quarterly. I am enclosing a cheque/money order for US$2OO.OO or equivalent in other currencies. I336 words
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1105 1977-12-22 10 THOMAS MULLANEY - ACCUSED OF BENIGN NEGLECT By THOMAS MULLANEY NYT. WASHINGTON: Before finally agreeing to the first devaluation of the dollar In 1971, the United States was accused, in effect, by many of Its Western partners of benign neglect for Its adamant reluctance to Initiate any overtNYT. - 1,105 words
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Article, Illustration1203 1977-12-22 10 JOHN WICKS - BY JOHN WICKS FT. ZURICH: One of the most remarkable phenomena In the International monetary system recently has been the rocketing upwards of the Swiss franc. Stronger even than the mark, Switzerland's currency has shot up in value against the field and against virtually everyFT. - 1,203 words
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Article, Illustration982 1977-12-22 10 ANDREW MALCOLM - By ANDREW MALCOLM NYT. i TOKYO: The Japanese j customs inspector opens J every crate of metal baseball bats from 1 a foreign manufacturer. He selects one bat. saws it open and j rules that the inside is not machined sufficiently. The whole shipmentNYT. - 982 words
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1279 1977-12-22 10 INSURANCE PROTECTION FROM MECIB Through the Malaysian Export Credit Insurance Berhad, exporters can now venture into new and unfamiliar markets with the comforting knowledge that their transactions will be provided insurance protection, unavailable elsewhere. By Tan Siok Choo in Kuala Lumpur. MALAYSIA will1,279 words
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Page 10 Advertisements
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Advertisement155 1977-12-22 10 COLLECTINQ Oriental Antiquej by Judith Moorhouse and Dries Blitz [3 Hamlyn Group, London. an"ques have always fascinated collectors s?nXw2 evoking M th «y d 0 the e*otlc and lnls howev er. widely believed that they are too i 0 ~t he a X v erage collector. This myth ls perpetuated155 words
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434 1977-12-22 11 AFP TAIPEH, Wed. Taiwan Is 4 selling more Industrial products on world markets, than South Korea, i However, this country has lost ground to Korea In exporting labour-intensive industrial products, an Industrial official slad. He gave a comparison of the exports In the first eightAFP - 434 words
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Article, Illustration68 1977-12-22 11 SIN CHEW Jit Poh has hit on a novel Christmas greeting idea a mock "share certificate" for a $1 share in Sin Chew Jit Poh (Singapore) Limited. About 1,000 of these have been distributed to Sin Chew's friends, contacts and associates but Sin Chew's68 words
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365 1977-12-22 11 ALTHOUGH Singapore advertising Industry Is older than those of most of Its neighbours. It still lacks the professional touch. Mr. Michael Anderson, currently a reserch associate at the Singaporebased Institute of Southeast Asian Studies, defines good advertising as effective. rather than sophisticated, advertising. Conversely, bad365 words
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517 1977-12-22 11 KUALA LUMPUR, Wed. The Malaysian rubber Industry is now equipped with the technology and capacity to produce rubber to consumers' specifications provided the demand Is large enough. This is the message that the recent Malaysian Rubber Exchange and Licensing Board (MRELB) rubber trade517 words
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Article469 1977-12-22 11 RAHIM KASSIM - *y RAHIM KASSIM A REVOLUTIONARY method In exterior and interior decor and advertising will be available in Singapore with the introduction of a printing system using a new method of reproducing enlarged colour pictures. The reproducing machine called the NECO-system, is a Japanese invention469 words
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82 1977-12-22 11 AP. WASHINGTON, Wed. The John F. Kennedy centre for the Performing Arts in Washington "has serious financial problems for which no simple solutions exist," the General Accounting Office (GAO) said yesterday. The centre has been unable to pay all of Its operating expensesAP. - 82 words
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612 1977-12-22 11 AFP. TOKYO, Wed. Suspicion is growing that South Korea bought over-priced Japanese rolling stock for its subway system in Seoul and political circles of both countries split kickbacks from the US$6O million (S$ 140 million) deal financed by a Japanese government loan.AFP. - 612 words
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Article561 1977-12-22 11 AFP Reuter, TOKYO, Wed. Japan plans emergency Imports of up to UBSIIO million (***** million) worth of nonferrous metal ore, as part of Its import-boosting measures. The ore imports would Include some 60,000 tonnes In metal content of copper and zinc and around 30,000 tonnes ofAFP; Reuter, - 561 words
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Article498 1977-12-22 11 Reuter. UPI. TOKYO, Wed. Japan will decide by next Wednesday whether to approve a request from Pan American Airways to introduce 50 per cent reduced budget fares on its Pacific routes to' Japan from Jan 15. The national dally Yomlurl Shlmbun today reported thatReuter.; UPI. - 498 words
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Article251 1977-12-22 11 AFP. TOKYO, Wed. Japan will start a 2,000-mllllon-yen (Ss2l million) technical study on how to extract plutonlum and uranium In a mixed form mutually acceptable to the United States and Japan. The study, reported by Kyodo news service, did not give a specific timetable for this projectAFP. - 251 words
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Article609 1977-12-22 11 neuter SYDNEY, Wed. The authorities will probably continue to make frequent small cuts over the next few months In the Australian dollar's overall value against a trade-weighted basket of currencies to restrain Its rise against a weak US dollar. However, bankers and foreign exchange dealersneuter - 609 words
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Article, Illustration93 1977-12-22 11 SOME 150 organisations received donations totalling $1.1 million yesterday morning from the Shaw Foundation. Tan Sri Runme Shaw presented the cheques to representatives of various organisations Including academic institutions, hospitals and charitable homes. Donation cheques of $50,000 were presented to the Metropolitan YMCA. the Department93 words
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Article92 1977-12-22 11 AFP CANBERRA, Wed. Australia and China are negotiating a long-term sugar contract. Revealing this, the Chairman of the Australian Sugar Board, Mr C.L. Harris said that the Commonwealth Sugar Refinery, the marketing agents for the Queensland state government have begun talks in Peking with theAFP - 92 words
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Page 11 Advertisements
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Advertisement327 1977-12-22 11 APPOINTMENTS 3M DU PONT FAR EAST INC. SINGAPORE BRANCH A leoding U.S. Chemical Company invites applications from Singapore Citizens for the position of ACCOUNTANT The candidate we ore looking for must have: (a) either a Bachelor of Accounting or any recognized professional accounting qualifications (b) minimum one year accounting experience327 words
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Article, Illustration398 1977-12-22 12 COLIN CHEE - Br COLIN CHEE FOR THE first 10 months of this year, Indonesians continued to top the list of visitors to Singapore with 234,000 arrivals. In October alone, they accounted for 18.8 per cent or 23,579 of the total number of tourist arrivals in398 words
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Article495 1977-12-22 12 KUALA LUMPUR, Wed. The Malaysian Cabinet Is expected to discuss once again the continued impasse over supersonic Concorde flights over the Straits of Malacca. The weekly Cabinet meeting will be held today but it is not known whether this subject will come up. This would495 words
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Article50 1977-12-22 12 THE Economic Development Board, Trade Development and the Singapore Manufacturers' Association have started a tripartite venture to produce a new bi-monthly publication to be called Singapore Manufacturer Initial circulation is expected to be 10,000 copies The magazine will promote Singapore as a trade, investment and manufacturing centre.50 words
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Article203 1977-12-22 12 Reuter LONDON, Wed. Tinproducing and consuming members of the International Tin Council (ITC) economic and price review panel (EPRP) failed to agree on whether the ITC buffer stock price range should be Increased. A final decision on whether prices should be lifted now will be madeReuter - 203 words
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Article717 1977-12-22 12 LONDON, Wed. South African mining shares and other overseas stocks advanced following news Britain will abolish the 25 per cent surrender rule on the Investment dollar premium. Leading equities were mixed after being generally easier although trading remained quiet and at 3 p.m., the Financial Times Index was717 words
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257 1977-12-22 12 THE Singapore Armed Forces Enterprise (SAFE), has set up a travel service department which will come into operation by early next month. This Is an effort to expand SAFE'S activities again after consolidation of its operations by shutting down the Dempsey Road branch and257 words
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145 1977-12-22 12 THE Ministry of Finance may set up a trade development council in Singapore In a few months's time. The council will most likely be a statutory body and win take over the export promotion work of the ministry's Trade Department. A few business groups,145 words
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1249 1977-12-22 12 TOKYO, Wed. The Japanese government plana to compile ita fiscal 1978 budget with emphasis on the promotion of public works projects to stimulate the sluggish economic activities. According to a blueprint worked out by the Finance Ministry, the state budget in the general account1,249 words
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351 1977-12-22 12 THE INSTITUTE of Shipping Management (ISM) can look forward to an active year ahead with lectures and seminars organised to develop and upgrade shipping expertise and knowhow in the context of Asean trade and International commerce. •'Depending on the availability of funds and351 words
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Article145 1977-12-22 12 THE Telecommunication Authority of Singapore Invites bookings from members of the public who wish to make international telephone greeting calls or send greeting telegram messages during the festive season. Telecoms have provided additional circuits to various countries to cater for the expected Increase in international calls145 words
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500 1977-12-22 12 Reuter. AFP TOKYO. Wed. The government formally approved an economic outlook for fiscal 1978 projecting a rise in real gross national product growth to 7 per cent from an estimated 5.3 per cent in fiscal 1977. and a fall in the current account balance ofReuter.; AFP - 500 words
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Article92 1977-12-22 12 NTUC-Comfort will put out 800 new taxis by May next year, of which 500 will replace old ones. Comfort has so far added 400 new taxis, with another 600 as replacements, since August this year. Between January and May. new taxis will be added to the Comfort92 words
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Advertisement9 1977-12-22 12 REDIFFUSION listeners-are YOI'NG 67<7r have children under 15 years9 words
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Advertisement159 1977-12-22 12 the 8 Steps to Health and Peace by Richard L. Hittleman (author of m yoga 28 day EXERCISE PLAN) Richard Hittlaman, tht most widaiy-raad author in tha world on tha aubjact of yoga, praaonta in tMa booh Ma moat complota and in-dapth atudy of tha aubjact to data, InatrucWon ia159 words
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