The Straits Times : Weekly Overseas Edition, 10 August 1996

Microfilm: NL20732
Total Pages: 24
1 24 The Straits Times : Weekly Overseas Edition
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  • Title Section
    Masthead
    21 1 The Straits Times WEEKLY EDITION SATURDAY. AUGUST 10. 1996 Price: 551.20 (in Singapore) Elsewhere by subscription only MIT A (P) 008/08/95
    21 words
  • Article
    8.9% – growth in first half
    217 1 8.9% growth in first half SINGAPORE'S economy grew strongly by 8.9 per cent in the first half of this year, but because of un certainty about growth in the second half, the Trade and Industry Ministry has revised its forecast for the year downwards by 0.5 per centagĕ point, to
    217 words
  • Article
    Help make S’pore a better home: PM Goh
    745 1  -  Strengthen commitment to country and citizens By Ng Wei Joo PRIME Minister Goh Chok Tong on Thursday called on Singaporeans to help make Singapore a better home bv strengthening their commitment to the country and their fellow citizens. Singaporeans, he said, could
    745 words
  • Article, Illustration
    Lock icon Top N-Day honours for Liu Kang
    595 1  -  By Ravi Veloo LIKE finding a masterwork on the canvas hidden under the work of a younger talent, the Government nas recognised renowned artist Liu Kang with the same honour it gave his son a dozen years ago. The China born elder Liu, 86,
    Picture bv JEROME MING.  -  595 words
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  • NEWS FOCUS
    • Article, Illustration
      Value of homes went up by $60b: BG Lee
      744 2  -  Only govt whose asset enhancement policies have increased value of citizens’ houses By Walter Fernandez THE Singapore Government is the only one in the world whose asset enhancement policies have increased the value of its citizens' homes by over S6O billion
      744 words
    • Article, Illustration
      Lock icon Big-spending S. Africans
      433 2 ASK anv South African visitor here and he will tell you that the shopping in Singapore is great. So it is hardly surprising that the South African was again the biggest spender among tourists here last vear, according to a Singapore Tourist Promotion Board (STPB) survev of
      SOURCE: STPB; JAIEHA HASHIM  -  433 words
    • Article
      WP fails in bid to retract apology to Indian MPs
      737 2 THE Workers’ Party has failed in an attempt to retract an apology it made to five Indian PAP MPs for defaming them. Justice G.P. Selvam ruled on Thursday that the case should move on to the next stage —deciding the
      737 words
    • Article, Illustration
      Spending rise: Higher prices played small part
      910 3  -  Buying more and better quality goods, services the main reason: Chief Statistician By Chua Lee Hoong SINGAPOREANS’ household spending has risen substantially in recent years, but only a fraction of it was due to rising prices, Chief Statistician Paul Cheung said on Tuesday.
      910 words
    • Article
      Limit on frozen assets increased to $10 million
      513 3  -  PUB corruption case By Brendan Pereira FORMER Public Utilities Board official Choy Hon Tim and his family cannot touch up to $lO million they hold in bank accounts or property around the world, the High Court has ordered. This is the result
      513 words
    • Article
      SIA among airlines working against US ban on in-flight gambling
      574 3  -  By Sim Wai Chew SINGAPORE Airlines (SIA) has joined a group of international airlines coming together to oppose a move by US policy-makers to ban international carriers serving the US from offering in-flight gambling even while flying over international air-space
      574 words
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  • HOME
    • Article
      Concerns go beyond material aspirations
      322 4 SM Lee’s TV forum with young Singaporeans YOUNG Singaporeans are not just concerned about pursuing the five Cs of car, condominium, cash, credit and countrv-club membership, if questions raised at a youth forum last week are an indicator. Indeed, the intangibles of life featured as
      322 words
    • Article, Illustration
      If you were my granddaughter...
      1440 4 MISS Phua Mei Pin. 19. entering Harvard University this year to read English Literature. She had written an article in Life! in May expressing her fear that her Singapore Dream of a car and an apartment was getting out of her reach. Referring to this
      1,440 words
    • Article, Illustration
      S’porean is tops at Harvard
      346 4  -  Highest-ranked in Arte and Sciences Faculty By Raoul Le Blond SINGAPOREAN student has Sed Harvard University Arts Sciences Faculty this year. Mr Yeoh Yong Yeow, 24, is be lieved to be the first Singaporean to win the Sophia Freund prize for being the hignest-ranking student
      346 words
    • Article
      Former ITE student gets first-class honours degree
      414 4 A FORMER Institute of Technical Education (ITE) student has come home with a first-class honours degree in mechanical engi neering, a Best Student Award and a Best Team award for his project from Britain’s Cardiff Uni versity. Mr Tan Teck Chuan. 26, did
      414 words
    • Article
      Ling concedes 'cost subsidy' exists
      752 5  -  Ministry data show increased govt health spending By Chua Mui Hoong OPPOSITION MP Ling How Doong conceded last Friday that health care was subsidised and that government hospital and polyclinic fees were charged below cost. The Singapore Democratic Party MP whose earlier remarks that health
      752 words
    • Article
      Hsien Yang: I have no plans to enter politics now or in future
      387 5  -  By Tammy Tan SINGAPORE Telecom president and chief executive officer Briga-dier-General Lee Hsien Yang last Friday said he had no plans to enter politics either now or in the future. “I have no plans to enter politics,”
      387 words
    • Article
      Opposition ward lacks amenities, but quite well-managed: Tony Tan
      622 6  -  Dr Tony Tan’s tour of Hougang By Walter Fernandez OPPOSITION-held Hougang estate lacks certain amenities and improvements compared with neighbouring People's Action Party estates, although it is “quite well-managed" This was Deputy Prime Minister Tonv Tan's assessment on Sunday after a
      622 words
    • Article, Illustration
      Lock icon Night Safari wins first Excellence award
      283 6 THE Night Safari wins the first-ever Excellence for Singapore award, one of five this year, and it seemed to have excited striped hyena Pushpa so much that it gave Mr Bernard Harrison, executive director of the Singapore Zoological Gardens, a sloppy kiss. Mr Hamson
      Wildlife Conservation Fund. — Picture by LAU FOOK KONG.  -  283 words
    • Article, Illustration
      Las Vegas Hilton wins case over gambling debt
      486 6 Malaysian owes casino $1.6 million THE Las Vegas Hilton has won its High Court suit to recover US$l.l5 million (551.63 million) in gambling debts from a Malaysian gambler. Mr Sunny Khoo Teng Hock. 57. a former timber merchant, ran up the debts
      486 words
    • Article, Illustration
      Lock icon $1.4b plan to revitalise Bedok town
      565 7  -  New housing developments, including landed properties, in the pipeline By TanHsueh Yun NEW housing developments, including landed housing and a possible executive condominium project, have been planned for Bedok. as part of a plan to revitalise the estate. The town’s $1.4-billion estate renewal strategy
      SOURCE HOB; JALEMA HASHIM  -  565 words
    • Article, Illustration
      Lock icon $5m sea sports centre for NSmen
      383 8 OPERATIONALLY-READY na tional servicemen can join Safra's new sea sports centre, which will open in Changi early next vear. Tfiis will be a first step for these NSmen towards full country club membership of Safras Resort and Country Club. Second Defence Minister Rear-Admiral <NS>
      Lianhe Zaobao picture.  -  383 words
    • Article
      Faked numbers for $1m prize
      261 8  -  By GinnieTeo A MECHANIC cut out numbers from Singapore Sweep tickets and pasted them on a ticket to form a prize-winning number. Tav Ah Seng. 46. who got a friend to claim the $1 million prize, was fined $3,000 on Tuesday for cheating. Deputv Public
      261 words
    • Article, Illustration
      Lock icon Smashed: Drug ring using ‘dead drops’
      776 9  -  6 kg of heroin worth slm seized, 41 pills also confiscated By David Miller “DEAD DROPS” are popular in the West because there are no face-to-face meetings, thus protecting the identities of all parties. The syndicate leaders run fewer risks of being implicated because
      NOEL ROSALES and LEE CHEE CHEW  -  776 words
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  • Page 5 Advertisements
    • Advertisement
      Page 5 Advertisements Column 1
      279 5 Doctors prescribe a weekly dosage of The Straits Times Weekly Edition to keep home sickness at bay. Are you following doctors' orders? The Straits Times Weekly Edition brings you the latest news in business, financial markets, politics and career opportunities in Singapore right to your doorstep. It is the perfect
      279 words
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  • Page 7 Advertisements
    • Advertisement
      Page 7 Advertisements Column 1
      275 7 >vV* >2^ UK'SI JSftTm con»» TheHtrait limes n**ES£•a* m nKStwiteTto* I IR Jim 111 II iJ. of service# ukungg >n o 'V Doctors prescribe a weekly dosage of The Straits Times Weekly Edition to keep home sickness at bay. Are you following doctors' orders? Subscribe to The Straits Times Weekly
      275 words
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  • Page 8 Miscellaneous
    • Miscellaneous
      Page 8 Miscellaneous Column 1
      1311 8 RADIO SINGAPORE INTERNATIONAL (ENGLISH) PROGRAMME SCHEDULES 1100 1400 Hours (GMT) 9530 KHz (31M BAND) MONDAY 1100 News ip Brief /Weather forecast (Asia Pacific) 1105 Frontiers 1120 Business Market Report 1130 Full News Bulletin 1138 What's Op 1140 T ake Five 1145 Newsline 1200 News in Brief 1203 E Z Beat
      1,311 words
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  • SPORTS
    • Article, Illustration
      Are the Rams falling apart?
      580 9  -  Coach Wicks hopes they will regroup after lean start to season STLEfcGUE f i By Shirlynn Ho-Pereira STEVE WICKS must be think ing of getting a new job as a fortune-teller. Not long ago, the Woodlands Wellington coach had said that his team was not
      580 words
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  • MALAYSIA
    • Article, Illustration
      Lock icon Malaysia plunged into darkness
      389 10  -  By Ho Wah Foon in Kuala Lumpur THE whole of Peninsular Malaysia was plunged into darkness last Saturday following a power failure which caused massive traffic jams in major cities. Minister of Telecommunications. Post and Energy Datuk Leo Moggie told reporters late last Saturday night that
      Picture by ALPHONSO CHAN.  -  389 words
    • Article
      Lock icon Anwar is able to succeed me: Mahathir
      528 10 Bemama. KUALA LUMPUR Prime Minister Datuk Seri Dr Mahathir Mohamad said he was confident that his deputy. Datuk Seri Anwar Ibrahim, could take over from him without hurting Umno. He was also convinced that Datuk Anwar would not force him to quit and
      Bemama.  -  528 words
    • Article
      Shi’ite man ‘forcing wife to marry best friend after temporary marriage’
      323 10 LANGKAWI The Islamic Centre is investigating the case of a Shi’ite man wno forced his young wife, whom he wed in a “temporary marriage", to marry his best friend after the contract expired. Berita Harian Malaysia quoted the Islamic
      323 words
    • Article
      Lock icon Samy Vellu denies making empty-promises statement
      290 10 w ““eriere m tne affairs of the MIC Bema ma. < i f > t i KUALA LUMPUR Malaysian Indian Congress president Datuk Seri S. Samy Vellu has denied saying that his requests for government help to improve the lot of Malaysian Indians were
      w ““eriere m tne affairs of the MIC Bema ma. < i f, * > : t ' i  -  290 words
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  • SOUTH-EAST ASIA
    • Article
      Manila briefs 160 S’pore recruiters on new guidelines on maids
      521 11  -  By Nirmal Ghosh Philippines Correspondent MANILA One hundred and sixty Singaporean recruitment agents gathered in Manila on Thursday for an extensive briefing on Manila’s new guidelines for the deployment of Filipino domestic helpers. Although several agents complained privately that the
      521 words
    • Article
      Lock icon Yangon bans imports of Heineken and Carlsberg
      321 11 Investments in Myanmar withdrawn, 50... Reuter. YANGON Myanmar banned all imports of Heineken and Carlsberg beer on Monday as a retaliatory measure against the brewers, which withdrew investments in Myanmar. State-run radio said late on Monday that the Ministry of Finance and Revenue
      Reuter.  -  321 words
    • Article
      Thai beauty denies nude deal
      114 11 BANGKOK Former Miss Universe Pomtip Nakhirunkanok has denied that she agreed to be photographed nude for a local magazine in exchange for five million baht (*****,898). The 1988 beauty pageant queen was testifying at a court hearing into her defamation suit against Thai newspaper Khao
      114 words
    • Article, Illustration
      Lock icon Thai boxer strikes gold and becomes a millionaire
      132 11 Olympic Games ATLANTA Thai boxer Somluck Kamsing became an instant millionaire after winning his country’s first Olympic gold medal on the final day of the Centennial Games. He beat Bulgarian Serafim Todorov in the featherweight final on Sunday. The victory ensured the
      Reuter picture.  -  132 words
    • Article
      Illegals must be paid as much as Thai workers, says Bangkok government
      504 11  -  By Sinfah Tunsarawuth in Bangkok THE Banharn Silpa-archa government, under pressure from Thai labour unions, decided on Tuesday that employers wanting to hire illegal immigrants must now pay them as much as they pay Thai workers. The move
      504 words
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  • COMMENT / Pick of the week’s editorials
    • Article
      Social glue for the nation
      713 12 AUGUST 9.1996 NATIONS, like people, do not live by bread alone. Nor do they become happier places to inhab it purely because the bread gets better, and there are butter and jam to go with it. These things are necessary, but what makes a people
      713 words
    • Article
      Right motive, wrong move
      692 12 AUGUST 8 1996 THE only advantage that President Bill Clinton has in the gathering storm over his government’s move to punish non-American firms whicn invest in the oil industry of Iran and Libya is that he does it for a reason hard to fault. He wants
      692 words
    • Article
      Atlanta's Games not the greatest
      627 12 AUGUST 6. 1996 THE centenary Olympic Games, just concluded in Atlanta, kept up the tradition of great moments. Michelle Smith s three swimming golds. Michael Johnson's double-gold track performance. Carl Lewis’ ninth gold of his career and weightlifter Naim Suleymanoglu’s lifts were among the moments
      627 words
    • Article, Illustration
      Lock icon When taking a taxi is a heart stopping affair
      930 12  -  By Bob Ng IHAVE used taxis 10 times a year on average for as long as I can remember. This does not qualify me as an expert in this form of public transport. But my experience may mirror that of a
      Mlfl  -  930 words
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  • COMMENT / ANALYSIS
    • Article, Illustration
      Less talk on executive condos and ministers’ pay, please
      1163 13  -  By the way With TAN SAI SIONG IF THERE is one concrete example of the Govern ment's responsiveness to Singaporeans’ aspirations, it must surely be the executive condominium scheme. Conceived around this time last year and announced by the Prime Minister
      1,163 words
    • Article, Illustration
      At 31, it’s time to listen to the voices around us
      1111 13  -  My View CHUA LEE HOONG SINGAPORE celebrated its 3lst National Day yesterday. It was a time of pomp and fanfare, a time when the President himself was present to witness a display of skills by tne best troopers of
      1,111 words
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  • INSIGHT A LOOK AT THE ISSUES OF THE DAY BY THE STRAITS TIMES POLITICAL DESK
    • Article, Illustration
      ECs – nightmare scheme or a step in the right direction?
      1724 14 ECs nightmare scheme or a step in the right direction? It has been called the Easy Condominium, or the ‘no pain, but still gain’ scheme. Why do some Singaporeans react so negatively to the Executive Condominium scheme? Ng Wei Joo reports. WHEN Prime Minister Goh Chok Tong an nounced the
      1,724 words
    • Article, Illustration
      Attitudes changing, but disabled are still misunderstood
      1204 15 Interview Disabled does not mean unable’ this is the theme of the month-long Disability Campaign, which started last Wednesday. The aim is to encourage employers to hire more disabled people. Chua Lee Hoong speaks to Mr See Cher, 40, who was bom without
      1,204 words
    • Article, Illustration
      Necessary to set rules for political debate
      1192 15  -  Thinking Aloud Leslie Fong THE Government’s decision to disallow the use of videos as a medium for the propagation of political views or public debate is sound and deserves support. Its arguments are well laid out in a statement on July 26, which
      1,192 words
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  • MONEY
    • Article
      Investors continued to be sidelined from bourse
      360 16 Singapore sharemarket review INVESTORS continued to be sidelined from the Singapore market this week, especially as lower-than-expectea corpo rate earnings reports. With the exception of the local banks. United Overseas Bank. DBS Bank and OCBC Bank turned in results that were largely anticipated,
      360 words
    • Article
      DAY-TO-DAY STOCK INDICES
      78 16 ST Industrials Index The Straits Times Industrials Index fell 7.45 points on the week to 2129.04. DAY CLOSE TURNOVER Monday 2146.72 (*-10.23) 64.443 m ($235.271m) Tuesday 2129.36 (17.36) 58.132 m ($198.459m&gt; Wednesday 2134,51 (+5.15) 63.465 m ($213.294m) Thursday 2129.04 (-5.47) 65.219 m ($174. 324m) Friday Unavail Unavail
      78 words
    • Article
      CORPORATE RESULTS
      2630 16 Company Oat* ann Net earn TY LV ($m) ($m) CPS TY LY (Ctf) (Cti) ABN Amro May 14 F 2.616 2.286 7.7 6.8 ABR Hldgs Jun 6 F 0697 2.007 1.6 4.6 Ac»r May 24 r 31.029 ***** 228 27.2 Acm« Jun 14 F 52.778 ***** 319 399
      2,630 words
    • Article
      DIVIDENDS ANNOUNCED
      608 16 Payment (HI Cii data Books clot* Ray data Ale Hldgs b 6 Oct 2 Oct 8 Oct 18 Asia Pac Ld b 2 Sap 16 Sap 20 Oct 18 Avimo Grp 20C 1 6.3TE Auq 16 Aug 22 Sap 16 B Sambawanq r 35f Aug 27 Sap 2
      608 words
    • Article
      APPROVED ISSUES
      76 16 OTHERS Ex- Books Acc 6 Company^^^atlo^_^^^^^^^^at*^clos*^Paymt Acma Ranouncaabl* Praf Basis Jul 23 Jul 29 Aug 20 Of 1 wrt for every 4 at 50.34 for each wrt. P*n Ranouncaabl* Praf Offer Jul 31 Aug 6 NVA United of 1 wrt for ovary 5 existing shares held at $0.20
      76 words
    • Article
      PROPOSED ISSUES
      53 16 imam *hm» Amcol Ona-for-two $2.05 Freight Two 1 wrt-for-four Links $0.72 Orchard P One-for-one &lt;£ $l.BO PSC Ona-for-two $0.70 £S.T.MgY Bonus issue MAA Ona-for-five Oriental H Two-for-fiv* PSC One-for-five Thakral Ona-for-tan ssmuttn sttfisa Kappal Renouncaabi* Praf Offer Finance of wrts on basis of 1 wrt 2001 for ovary
      53 words
    • Article, Illustration
      Lock icon S’pore office rents 7th highest in the world
      581 17  -  Annual rates average US$9lO psm, says Richard Ellis survey By Colin Tan SINGAPORE’S office rents were the seventh most expensive in the world, according to an international survey of 62 major city centres completed last month. The Republic shared joint seventh position
      SOURCE: RICHARD ELLIS  -  581 words
    • Article
      HONGKONG
      478 17 August ***** HKS ASM Pacific 5 35 •0100 Allied Ind Int 1 0 4? unch Allied Oversea Asia Sac Int 1 39 •0 02 Bank of EA 29 ?0 -0 50 C P Pokphand 2 67 -0 03 COL Hotel 4 10 0 07 Cafe De Cotal 2 12
      478 words
    • Article
      CPF members withdrew $337m for investment in 2nd quarter
      232 17 CENTRAL Provident Fund (CPF) members withdrew a net $337.5 million of their retirement money in the second quarter for investment under the basic and enhanced investment schemes, 10 times the first quarter's $33.8 million. The cumulative sum withdrawn as at June
      232 words
    • Article
      CURRENCY
      136 17 COUNTER RATES Singapore dollars to one unit of foreign currency Buying OD Selling US dollar Sterling pound Australian dollar Canadian dollar NZ dollar EC unit 1.4063 2.1528 1.0796 1.0172 0.9533 1.4224 2.2051 1.1137 1.0404 0.9860 1.8067 Singapore dollars to 100 units of foreign currency Austrian schilling 13.2114 Belgian franc
      136 words
    • Article
      ASIAN CURRENCY UNITS
      129 17 Contract date: August 8 1996 UNIT ONE MTH 3 MTH 6 MTX 9 MTH 12 MTH CALL VALUE DATE us$ 4 3 4". 5'/. 5 5 4 m 12/8/% AS 6' 6 ‘n 6 l &gt; 6 5% 5&gt;. 12/8/% NZ$ 9&gt; 9 8'. 8 1 8w
      129 words
    • Article
      UNIT TRUSTS
      529 17 Singapore Unit Trust The Commerce 1.61—1.71® The Savings Fund 1.59—1.69® S'pore Prog Fund 0.69—0.73® S'pore Sec Fund 0.97—1 03xd« S'pore Invest Fund 1.05—1.12nd® S'pore Equity Fund 0.78—0.83® Credit Lyonnais Int'l Asset Mgt CL Asia-Pac Gr Fund 0.860-0,905" CL S’poreGr Fund 0.855—0 900" CL Reg China Fund 0.850—0 895"
      529 words
    • Article
      SES MAIN BOARD
      7939 18 INDUSTRIAL AND COMMERCIAL Transaction Date: August 8 1996 1995 96 Curr Last Vol Day Gr's Net M Cap Wt Avg High Low Company Traded Sale •for000 High Low Div PE (mil Price ASE NT810 200 US 214 165 Acer 50c US 182 unch 100 182 181 5
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    • COMPANIES’ RESULTS
      • Article, Illustration
        Lock icon UOB group’s net profit rises 13% to hit $353m at half-time
        554 20  -  Full-year earnings forecast within sight as results exceed expectations By Jean Chia UNITED Overseas Bank (UOB) the first of the Big Four banks to report interim results last Friday disclosed a 13.1 per cent increase in net profit to
        SOURCE BLOOMBERG; LEE CHEE CHEW  -  554 words
      • Article, Illustration
        Lock icon Keppel Bank turns in 22% rise in interim earnings to $42m
        638 20  -  By Tan Li Eng KEPPEL Bank announced on Monday a 22.3 per cent rise in interim earnings to $42 million, for the first sue months of the year. The results are in line with market expectations. Analysts polled by
        SOURCE: BLOOMBERG; fOO HWEIWEN  -  638 words
      • Article
        POSBank reports 68% fall in net surplus for 1995
        416 20 THE Post Office Savings Bank (POSBank) has reported a 68.3 per cent drop in its Dank net surplus for 1995 before contribution to the Consolidated Fund, according to its latest annual report released yesterday. Bank net surplus before contribution to the
        416 words
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  • Page 21 Advertisements
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      Page 21 Advertisements Column 1
      932 21 Nat West Markets is the worldwide corporate and investment banking arm of Nat West Group, one of the largest and best capitalised banking groups in the world. With over 1300 people :n 12 countries, including its regional headquarters in Hong Kong, Nat West Markets is one of the fastest growing
      932 words
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  • Page 22 Advertisements
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      Page 22 Advertisements Column 1
      769 22 Careers In Information Technology Singapore Airlines invites applicants for the following appointments: SYSTEMS ANALYSTS, SYSTEMS PROGRAMMERS, ANALYST/PROGRAMMERS Requirements A degree in Information Technology, or a good honours degree in a related discipline. In addition, you should be articulate, thorough, self-motivated and be capable of analysing complex technical problems. Candidates without
      769 words
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