The Straits Times : Weekly Overseas Edition, 8 November 1997

Total Pages: 24
1 24 The Straits Times : Weekly Overseas Edition
  • 20 1 The Straits Times WEEKLY EDITION SATURDAY, NOVEMBER 8 1997 Price: 551.20 (in Singapore) Elsewhere by subscription only MITA (P) 047/08/97
    20 words
  • 1004 1  -  Need to re-think fundamentals, says BG Lee By Ravi Velloor SINGAPORE on Tuesday signalled a radical new approach to its key financial services sector, saving international trends made a review imperative. ana industry as well as investors had matured suffi cientlv to allow
    Graphic by RAYMOND LEE; Picture by CHEW SENG KIM  -  1,004 words
  • 436 1  -  By Tan Hsueh Yun THE foreign worker levy for skilled foreigners will be cut by half, but the amount for domestic maids and unskilled construction workers will go up, the Government announced on Tuesday. The Labour Ministry said the monthly levy for skilled
    436 words
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  • NEWS FOCUS
    • 883 2  -  Panel dismisses A-G’s arguments; sets guidelines By Lim Li Hsien THE Court of Appeal on Thursday upheld the Chief Justice’s judgment in a land mark Official Secrets Act case and dismissed arguments put forward by the Attorney-Gen-eral. Setting out what must be proven if
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    • 207 2  -  By Kao Chen SHE is at a ripe old age but she seldom feels down. She also knows how to put her feet up. What is more, former matron Teresa Hsu, 97, still has all her own teeth and looks at least 30 years younger.
      ■ Picture by GEORGE GASCON  -  207 words
    • 279 2 SIX teenagers broke into a neighbourhood school and cooked themselves a meal of instant noodles, canned soup and baked beans and sat down to watch TV. For that, one boy was sent to a boys’ home, another was placed on probation and
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    • 552 3  -  Supplier fails in bid to stop low pricing’ By S.Tsering Bhalla FRENCH hypermarket Carre four priced some items so low that a supplier took legal action against it and lost. In what seems to be the first such case here, Carrefour has come
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    • 626 3  -  Customs investigating after complaints over Toyota cars’ falling OMVs By Leong Chan Teik BUYERS of Toyotas recently got their cars late after the Customs Excise Depart ment held up the vehicles while investigating whether motor distributors here were under-declaring their import prices. At the centre
      CHOO BEE YIAN Picture b» lAU FOOK KONG; Research by LEONG CHAN TEIK  -  626 words
    • 648 3  -  Raffles Hotel general manager voted Hotelier of the World By Lea Wee A SINGAPOREAN woman has been voted “Hotelier of the World” by about 62,000 readers of the prestigious Hotels magazine. Ms Jennie Chua, 53, general manager of Raffles Hotel, is the first Asian woman and
      Picture by ALAN LIM.  -  648 words


  • HOME
    • 633 4  -  By Lee Siew Hua US Correspondent GRAND PRAIRIE (Texas) Singa pore's new Chinook helicopter unit on the vast prairie of Texas stands as another milestone in defence relations between the Republic and the United States and these links should broaden
      Mindef picture.  -  633 words
    • 489 4  -  By David Miller and Chang Ai-Lien A SINGAPOREAN, who was on holiday in Australia's Northern Terroritv. died earlv on Thursday about two weeks after she collapsed in the desert from heatstroke. A journalist. Miss Mara Fernandez. 41. was visiting The Olgas. a desert rock
      JAHAN  -  489 words
    • 409 4 NATIONAL Development Minister Lim Hng Kiang on Wednesday criticised Mr J.B. Jeyaretnam's claim that the Government was going back on its election promise to upgrade HDB estates, saying it was typical of the Workers' Party leader's “sour approach to politics”. He
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    • 682 5  -  Valuable lesson from the currency turmoil, says BG Lee By Chua Mui Hoong THE ongoing currency turmoil in the region has driven home a valuable lesson: that confidence can T>e shaken by sudden events, and that no country can assume itself safe from unexpected shocks
      Picture by CHEW SENG KIM.  -  682 words
    • 659 5  -  Causeway jams Reports by Reports by Walter Fernandez THE massive Causeway jams, which have eased after more than a month, drove home an important lesson. Home Affairs Minister Wong Kan Seng said on Sunday. Stringent and bureaucratic checks such as those imposed by
      659 words
    • 662 6  -  By Rav Dhaliwal WHEN a shopper finds an item he bought at Changi airport going at a lower price at a downtown department store, the airport shop will refund him not just the price difference, but double the amount. And if he wants
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    • 674 6  -  Explore the world of smells and flavours in new tour By Tan Shzr Ee VISITORS to Singapore can soon absorb not just the sights, but also the smells of the island city. By Jan 1 next year, a new tour'will take them to lesserexplored sights here, such as
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    • 460 6  -  By Elena Chong AN ATHLETICS coach who won sprinting medals for himself and helped his students win gold medals, was jailed for 15 months on Monday for sexually abusing three ooys aged between 14 and 16. Gerard Then Thian Teck, 43. single and a
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    • 482 7  -  Marine Parade gets award from US-based body By Joanne Lee SINGAPORE’S town councils have won international recognition for their role in urban development and community management. Marine Parade Town Council on Sunday received the 1997 Excellence Award for its efforts in the two areas from
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    • 385 7 BOSS OF THE YEAB CENTRAL Provident Fund Board general manager Lim Han Soon, 55, is Singapore’s Boss of the Year. So said his secretary of 10 years. Miss Linda Lim, 47. And the Singapore Association of Personal and Executive Secretaries (Sapes)agreeo. Mr Lim
      Picture by STEPHANIE YEOW.  -  385 words
    • 725 8  -  By Geraldine Yeo TWO Upper Serangoon Road landmarks are making way for the North East MRT line and a six-lane flyover. The 13-year-old Braddell Heights Community Centre <CC> will be tom down and rebuilt nearby. Its neighbour, the Pava Lebar Methodist Church, has
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  • Page 7 Advertisements
    • 188 7 Home Delivery weekly! A crisp summary of the week's major happenings in Singapore. Politics, business, the economy, investment opportunities, executives appointments.... and highlights on Malaysia and the Asean. A convenient tabloid airmailed to you wherever you maybe. Yes! Every week. Subscribe now. And be at home with the ST weekly.
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  • Page 8 Miscellaneous
    • 1117 8 RADIO SINGAPORE INTERNATIONAL (ENGLISH) PROGRAMME SCHEDULES 1100 1400 Hours (GMT) 6015 KHz (49M BAND) 6155 KHz (49M BAND) MONDAY 1100 News 1109 Business Market Report 1115 Arts Arena 1130 News 1135 The Front Page 1138 E Z Beat 1145 Newsline 1200 News/Weather (Asia-Pacific) 1205 E Z Beat 1220 Business Market
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  • SPORTS
    • 440 9  -  Futsal By Santokh Singh SINGAPORE versus threetime world indoor soccer champion Brazil. That will be a real possibility when the Singapore Indoor Stadium hosts tne Tiger 5s International Indoor Soccer Championship from Dec 4-7. The Tiger 5s will be an indoor five-a-side competition known
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    • 824 9  -  SBA kicks off foreign recruitment drive to boost talent pool BADMINTON’S GO-CHINA POLICY BADMINTON By Santokh Singh THE Singapore Badminton Association launched its bold programme to recruit Chinabom players on Wednesday. Four schoolgirls, Xiao Luxi, 15, Rong Muxi and Li Li,
      ADAM LEE  -  824 words
    • 303 9 LI LI may be the top-ranked junior in Hubei province but she still has a long way to go before she plays for China’s national team. The 14-year-old said that each province in China had two squads the junior or second team (aged
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  • MALAYSIA
    • 223 10 KULIM (Kedah* All 1.200 firemen who went to Sumatra and Kalimantan in September to fight forest fires will have to go for a second medical check up following the death of a colleague. The Sun quoted Nation al Disaster Council chairman Datuk
      223 words
    • 513 10 AFP. NST, Reuters. KUALA LUMPUR Fewer tourists are visiting Malaysia because of the haze, with Malaysia Airlines reporting the number of inbound passengers falling by as much as 15 percentage points since August. Malaysia Airline’s vicepresident for passenger sales,
      AFP.; NST,; Reuters.; – File picture by ENRIQUE SORIANO.  -  513 words
    • 583 10  -  Causeway problem not serious enough for foreign ministers to intervene By Yang Razati Kassim of the Business Times KUALA LUMPUR An upcoming meeting between Prime Minister Gon Chok Tong and his Malaysian counterpart, Datuk Seri Dr Mahathir Mohamad, next
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    • 316 10 Bemama. KUALA LUMPUR Malaysia will not impose an exit tax on its citizens who go overseas because it does not want to undermine its earlier agreement with Asean neighbours to promote tourism, Deputy Prime Minister Datuk Seri Anwar Ibrahim
      Bemama.  -  316 words

  • SOUTH-EAST ASIA
    • 432 11  -  By Edward Tang Thailand Correspondent BANGKOK Wedding bells are tolling later, less garbage is disposed, and housewives are cutting back on personal grooming, as Thais, hit in their wallets by the economic haemorrhage, radically alter their spending habits to cope with the
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    • 538 11  -  Political crisis in Thailand By Thoi Edward Tang I naiiand Correspondent BANGKOK After a day of political horse-trading. Democrat Party leader Chuan Leekpai ap peared to be on course to forming the next Thai government and replace General Chavalit Yongchaiyudh, whose
      AFP picture.  -  538 words
    • 561 11 Move ‘made for the health of the banking sector’ Currency crisis in Indonesia JAKARTA Indonesian President Suharto’s eldest daughter on Thursday backed the government’s last weekend closure of 16 banks, including those part-ly-owned by other family members, the official Antara news agency
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    • 182 11  -  By Luz Baguioro In Manila PHILIPPINE National Police chief Recaredo Sarmiento said on Monday that the country needed at least 45,000 new policemen to curb rising crime rates, particularly in the capital. He said the police-civilian ratio was now 1:700, and that the ideal was
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  • COMMENT / Pick of the week’s editorials
    • 681 12 NOVEMBER 6 1997 DEREGULATION in global finance is a trend of the future and Singapore's financial sector had better be braced for a sea change in the operating environment if it wants to stay on top in the world league Acting Prime Minister Lee Hsien Loong's
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    • 692 12 NOVEMBER 5 ’997 STARING ruin in the face. Thailand's rulers cannot but know that they have run out of options In economic terms, the country is in a mess. Thai companies owe creditors abroad an estimated US$9l 6 billion (*****.8 billion' about. US$2O billion of which
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    • 643 12 NOVEMBER 3 *997 PRESIDENT Suharto's acceptance of the conditions tied to a multi-billion-dollar aid package put up by the International Monetary Fund (IMF) will go a long way to restore confidence in the Indonesian economy. Over the next three vears. Jakarta is committed to liberalise
      643 words
    • 813 12  -  By Sia Cheong Yew IT IS that time of the year again when those of us wno use our CPF savings to invest in stocks and shares face what I call a reality check. By way of a statement from
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  • COMMENT/ANALYSIS
    • 984 13  -  By Asad Latif THE Nigerian writer Chinua Achebe once related a story of a schoolboy who wrote* about "winter” when he meant the “harmattan". His teacher of English asked him why he had done so. The studen{ answered that the other
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    • 1053 13  -  Why Singaporeans take the Housing Board to task frequently By Tan Sai Siong YOU would think that the Housing Board, as Singapore's largest and cheapest home provider, would enjoy every citizen’s undying gratitude for all it has done to provide them with a roof
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  • INSIGHT
    • 188 14 THIS week, a group of 50 to 70 Singaporeans started work gathering views for a blueprint to chart the course of Singapore’s future. These Singaporeans unionists, national servicemen, professionals, members of voluntary welfare organisations, journalists, grassroots leaders and others will be members of five sub-committees
      NOEL ROSALES  -  188 words
    • 509 14 No time for consultation in crisis Consultative or decisive government “A good government must be both consultative and decisive. I don’t see a dilemma between the two. As a general rule, the people’s input should be considered. But there will always be situations requiring quick, decisive action, in times of
      509 words
    • 515 14 Attracting foreigners, caring for Singaporeans “You really need vision and strategy at the top levels. And that is where foreign talent will make the most difference. For example, Ml is doing very, very well. It has got its 100,000 th
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    • 391 14 More drive, or less stress “We have no natural resources, so we have to work hardest to compete with others that is a fact of life. It is all very straighforward. You know that life in Singapore is different and the
      391 words
    • 143 14 Going global, or feeling local “I own a small company with 18 outlets in Singapore and establishments in eight other countries. It’s very difficult to expand my business overseas, but I had to do it. The Singapore market is simply too small. Once we had
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    • 1238 15 Who should care for the aged family, community or state? Dr Yaacob Ibrahim, an MP for Jalan Besar GRC, is co-chairman of the Singapore 21 sub-committee looking into balancing the needs of the old and the aspirations of the young. But why should the old be seen as having needs,
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    • 1367 15  -  Thinking Aloud Han Fook Kwang THE cost of the present financial turmoil is being counted in the trillions til dollars lost, in the stock and currency markets, in the slower growth of countries in the region and in the loss of
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  • MONEY
    • 407 16 Weekly share market review A BRIGHT spark at the start of the week failed to translate into a sustainable rally this week. On Monday, the Bourse underwent a sharp spike upwards when bargain hunters swarmed into the stock market in search
      407 words
    • 76 16 ST Industrials Index The Straits Times Industrials Index rose 85.18 points on the week to 1671.25. DAY CLOSE TURNOVER Monday 1703.951+117.88) 294.290 ($587.038m) Tuesday 1713.76 (+9.81) 333.892 ($637.460m) Wednesday 1700.02 13.74) 130.966 ($281.096m) Thursday 1690.531 —9.49) 102.332 ($211.988m) Friday 1671.251- 19.28) 96.966 ($245.798m) BT—MGA Index The BT—MGA
      76 words
    • 1795 16 Cempeny OAtt Ann Net eern TV LY <$m) ($m> CPS TV LV (CtAI (CtS) ABB Hldqs Sept 18 0429L C.060 0.1 AFP Sept 30 1 24.729 25 AISB* Sept 30 P 5858 1.763 5.71 1.72 ANA HOttlS Octl 1 1317 1.580 2.75 3.29 ASj Hldqs Sept 23 1
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    • 205 16 RIGHTS ISSUE Company Ratio Exdata Books dots Southern B F Ona for-two RM1 85 Oct 14 Oct 20 Nov 19 IRCO 8*3 wrts-for-10 0 US$120 Nov 13 Nov 19 NYA ROC Ona-for-ona 0 $2 40 Nov 11 Nov 17 NYA BON JS ISSUE ExBooks Company Ratio data clot*
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    • 118 16 Company Right» Kiua AISB inno-Pac Nlppercraft PMi Three-for-tive H> MSS.SO One tor-ona <?> $0.30 Onetortour $0 28 Three-for-two MS1.00 Company Bonus Istua H Royal Two-for-thrae Kamayan Corp One-for-three lum Chang One-for-five PMi Ona-for-four Sin Soon H One-fortwo Company Othart inno-Pac Proposed issue ot ona wrt tor avary lour
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    • 76 16 Tim* H Negara E 10 Claymore Rd (*****0) Nov 3 11.00am Serial Sys A Sheraton Towers S pore 39 Scotts Rd (*****0) Nov 6 10.00am Tractors A Classics Ballroom Holiday Villa Subang 9 Jin SS12/1 Subang Jaya. ***** Petalmg Jaya. Selangor Nov 6 12.00nn Bandar Raya E Multi-Purpose
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    • 830 16 Payment Ex data Books dose Pay data A! SB 50C 0 S Jan 2 Jan 7 Jan 23 A»* Hi Yield Bd F 849 Oct 23 Oct 29 Nov 6 Austraiand A SOC 1 6.4 Jan 9 Jan 15 Jan 29 Auric SOC F 6N Nov 26 Oac
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    • 742 17  -  Third-quarter drop due to incoming supply of 4.3 million sq ft of new space By Kalpana Rashiwala OFFICE rents fell an average 10.2 per cent in the third quarter from their peak at the same time last year the result of a record supply
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    • 307 17  -  By Douglas Wong THE Singapore-developed Suzhou Industrial Park (SIP) in China on Wednesday sealed three new industrial and commercial investments worth US$9O million (*****.2 million), bringing total investment commitments so far to US$2.B billion from 98 projects. The new investments are a US$25 million
      307 words
    • 177 17 COUNTER RATES Singapore dollars to one unit of foreign currency Selling Buying OD US dollar 1 5582 1.5879 Sterling pound ***** ***** Australian dol'ar ***** 1 1137 Canadian dollar 1.1051 1.1388 NZ dollar 0 9573 0 9977 EC unit 1 8273 Singapore dollars to of foreign currency 100 units
      177 words
    • 113 17 Contract date: November 7,1997 UNIT ONE MTH 3 MTH 6 MTH 9 MTH 12 MTH CALL VALUE DATE us$ 5 5 5 s 5% 5V* 5v„ 4'V 12/11/97 AS 4V„ 4Y„ 4¥„ 4V* 4. 3'Mi 12/11/97 NZS 6 1 1 6% 6% 6'V.j 6’V* 5'V* 12/11/97 STG
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    • 466 17 November 7,1997 HKS ASM Pacific 620 unch Allied Ind Inti 1.90 *007 Allied Oversea 082 -0 04 Asia Sec Int 1 65 -0 12 Bank of EA 16 80 -0 85 C P Pokphand 1 85 -0 06 COL Hotel 2 45 -0 02 Cafe De Coral 1 50
      466 words
    • 973 17 Mars' Prices, November 8 Aberdeen Asset Mgt Asia Ltd Aberdeen 5 po'eGr Fund AIBGovetl (All») Ltd 0947-0 996" Govett Asia Pacific Growth Fd 0 988—t 036 Govett Global Bunds Fd American Inti Aiful 0 947-0 995 AIA Unit linked Fd 0 86’—***** AIA Regional Equity Fd 0 950-1
      973 words
    • 8895 18 INDUSTRIAL AND COMMERCIAL Transaction Date: November 7,1997 1 1997 Curr Last Vol Day Grs Net M Cap Wt Avg High LOW Company Traded Sale Of000 High LOW Div P/E Smil Price 157 40 e ACE Dynamics60c 60 unch 165 60 50 49 1 46 ASE NTS 10
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    • 602 20  -  By Jean Chia RUPIAH purchases by the Monetary Autnority of Singapore (MAS) and two other central banks helped lift the Indonesian cur renew by about 9 per cent on Monday. Spo radic waves of buying by the MAS. Bank of Japan
      602 words
    • 455 20  -  By Ravi Velloor n Kuaia Lumpur INDONESIAN President Suharto. lending his voice to the critics of international currency trading, on Monday called for immediate and efficient steps to dampen its adverse impact on developing countries. In an unprecedented attack on the
      Reuters picture.  -  455 words
    • 550 20  -  Firm shrugs off regional financial woes By Patrick Tan AMERICAN manufacturing giant 3M will pump in $491 million to beef up its Singapore operations the biggest foreign investment commitment here since the regional currency crisis began on July 2. The company was undeterred by
      550 words





  • Page 21 Advertisements
    • 1098 21 The Straits Times Weekly Edition -x > XXXXv 2-mm I si 11l lllii £*<£> NATIONAL UNIVERSITY v ?r.i OF SINGAPORE DEPARTMENT OF OBSTETRICS AND GYNAECOLOGY Applications are invited for teaching appointments in the Department of Obstetrics and Gynaecology. Candidates should possess an approved basic medical degree with relevant postgraduate qualifications
      1,098 words

  • Page 22 Advertisements
    • 871 22 Secure tomorrow's success with POSBank today! A career with POSBank is more than just a job. It is the start of a challenging journey that will lead you to exceptional success, for we are committed to helping our employees reach their goals. To secure a promising tomorrow, join us as:
      871 words

  • FORUM
    • 527 23 They are the ones who have to live with the consequences I REFER to the report on two Singaporeans who contracted the Aids-causing virus through blood transfusion (ST Weekly, Nov 1). Volunteering to donate blood to help a fellow human being is
      527 words
    • 521 23 I REFER to the letters “Blood transfusion: Patients should be offered all options" and “Re-test donors after window period (see this page!. We agree with Mr See Leong Kit that autologous transfusions, in which patients donate blood for their own use later, is
      521 words
    • 166 23 I READ with dismay the report on the above and pity the two recipients of the contaminated blood. The hospital should be held partially responsible as it did not do enough to prevent the occurrence. It is common knowledge that HIV-contaminated blood exhibits a window
      166 words
    • 985 23 I REFER to the Straits Times report on the feedback session held on Oct 28, “Workers want more incentives to work beyond 60" (ST, Oct 30). The report highlighted concerns but aid not carry explana tions given by the panel. This is unbalanced, below
      985 words

  • 688 24  -  HDB to build and sell 580 elderly-friendly units at four sites By Tan Hsueh Yun THE Housing Board has unveiled a new type of housing studio apartments targeted at Singaporean HDB flat owmers aged 55 or older. For a start, it will build 580 units
    688 words
  • 703 24  -  Deep, strong roots in the form of good government, says SM By Chua Mui Hoong THE Singapore tree stood tall when the currency typhoon struck down other financial markets because it had strong, deep roots. Senior Minister Lee Kuan Yew said on Sunday night.
    – Picture by ALI YUSOF.  -  703 words