The Straits Times : Weekly Overseas Edition, 6 June 1998

Total Pages: 24
1 24 The Straits Times : Weekly Overseas Edition
  • 16 1 The Straits Times Weekly Edition Saturday June 6,1998 Price: S$ 1.20 (in Singapore) MITA (P) 047/08/97
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  • 472 1  -  The Government would act quickly if economic growth slowed down significantly, says Dr Richard Hu in response to concerns raised by MPs «V AHMAD OSMAN THE economy is unlikely to slip into negative growth this year, Finance Minister Richard Hu told MPs on Monday, assuring them
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  • 185 1 SWAYED by the rhythm and the dancing, this Festival Parade spectator (left) found himself among the grassskirted members of the Karioi Cultural Dance Group from Cook Island, joining them for a little sashay. He was among a crowd of about 80,000 who
    PICTI KKS H> 1 U KOOK KONC  -  185 words
  • Page 1 Advertisements
    • 56 1 Ontiiek o a d s Killer Drivers Beware The Road Traffic Act may be changed so that those who have caused death by dangerous driving may be suspended immediately. page 2 COMI’AMESTIE V l 1 Merger On The Cards Singapore Technologies Industrial Corporation and Sembawang Corporation announce a merger they
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  • PRIME NEWS
    • 504 2 CHANGING THE ROAD TRAFFIC ACT THE Road Traffic Act may be amended to empower the Deputy Commissioner of Police to suspend immediately those who have caused death by dangerous driving, even before they are charged in court. Announcing this in Parliament on Monday, Associate Professor
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    • 245 2 ELEVEN-YEAR-OLD Tan Rui Wen (left) adjusting the saffron robe for his halfbrother. eight-vear-old Tan Wei Wen. Unlike most of their peers, these boy’s are spending a week of their June holidays living as monks at the Singapore Buddhist Meditation Centre. Their status as monks means
      CEORCE GASCON  -  245 words
    • 490 2  -  Bu LEA WEE ONLY one in five of the pregnant women here who went for pre-natal check-ups at government polyclinics in the first three months of this year agreed to be tested for HIV, said the Health Ministry. Since January, all 14 polyclinics have offered
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    • 536 3 Unemployment likely to rise over the next few months as fresh graduates enter the job market MORE people may be jobless if the economic situation does not improve in the next few months when fresh graduates enter the job market, the Ministry of Manpower warned
      Source. MINISTRY OF MANPOWER $ RESEARCH AND STATISTICS DEPARTMENT; Raymond i.ee  -  536 words
    • 325 3  - Lay-offs ‘may exceed 20,000 Bn ALISON DE SOUZA THE number of workers retrenched this year will probably exceed the 20,000 peak reached during the 1985-6 recession, Minister without Portfolio Lim Boon Heng said on Sunday. He cited the worsening economic outlook in the region to back this view, noting that
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    • 376 3 Dead when... A DOCTOR would certify a person as dead when his brain has stopped functioning totally (brain death) or when his blood flow and respiration has ceased permanently (cardiac death). A PARLIAMENTARY select committee set up to review a Bill aimed at
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  • PARLIAMENT
    • 536 4  -  Despite changes in Indonesia, Republic aims to go ahead with this and humanitarian aid «I/ RAIDAH IBRAHIM SINGAPORE is still committed to the bilateral trade financing scheme for Indonesia despite the political changes there, said Deputy Prime Minister Lee Hsien Ixxmg on Monday. “Indonesia's changed
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    • 439 4 IT IS now the death sentence for those found with more than 250 g of the designer drug Ice. The Misuse of Drugs (Amendment) Bill, passed by Parliament on Monday, slaps the death penalty on anyone convicted of trafficking, importing or exporting more
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    • 250 4 THOSE caught using cellular telephones without hands-free kits while driving may soon face stiffer penalties, if motorists persist in this dangerous practice. The Traffic Police will consider charging them in court. Associate Professor Ho Peng Kee, Minister of State for Law and Home
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    • 389 4  -  Reports by Walter Fernandez, Geraldine Yeo, Alison De Souza, PangGekChoo and Jason Leow THE idea for Asean members to have a mechanism to monitor their economies to detect potential financial crises needs further careful study, said Finance Minister Richard Hu on Monday. The aim of the
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    • 607 5 Govt will not fine-tune sale rules or prop up the market, even if some developers might go bust THE financial rules governing the sale of residential property will not be refined further, nor will the Government make any fresh adjustments to its land sales programme
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    • 349 5 RELATIONS between Singapore and Indonesia remain good even though Indonesia is in political transition, said Foreign Minister S. Jayakumar on Monday. “Singapore will continue to work with Indonesia, both bilaterally and within Asean, to further strengthen our close relations to the benefit of both
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    • 437 5 THERE has not been an influx of Indonesian illegal immigrants following the outbreak of unrest in Indonesia. Home Affairs Minister Wong Kan Seng said in Parliament on Monday that the police had arrested 77 Indonesian illegal immigrants on land and at sea last
      JKKOMIMINC  -  437 words
    • 223 5 THE regional economic crisis has not pushed up the cost of living here, Trade and Industry Minister Lee Yock Suan said on Monday. He also cited figures to show that the standard of living here had not deteriorated despite the economic turmoil
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  • HOME
    • 637 6  -  Access to the network will become as pervasive as telephone services, says PM Goh «7 CHANG AI-LIEN UP TO half of Singapore’s homes are expected to be Singapore One subscribers by the year 2001, and access will eventually be as pervasive as access to
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    • 488 6  -  By lASBIR SINGH muI LIM SENG JIN THIS fine mess had all the makings of a successful television sitcom. It began with a mistake, was compounded by an understandable error and blew up into a full-scale misunderstanding that led to a warrant of
      I.VC KOOK KONC  -  488 words
    • 400 6  -  By JEAN CHIA and YEOW PEI LIN YOUR Central Provident Fund (CPF) savings will earn a higher annual interest rate of 4.29 per cent for the second half of this year, up from 3.48 per cent in the past year. As
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    • 397 7  -  Bn LEONGWENG RAM YOU can now drink in some teahouse culture, with the opening of the Chinese Opera Teahouse at 5, Smith Street at 10.45 am on Monday. The Chinese Theatre Circle is bringing back the traditional teahouse to Chinatown, after an absence
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    • 270 7 COMMUNITY centres are getting some new neighbours. More centres will co-locate with community libraries, neighbourhood police centres, NTUC child-care centres, be-fore-and-after-school care centres, arts groups, Malay organisations and other users. Home Affairs Minister Wong Kan Seng said this on Sunday at the opening of the
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    • 319 8  -  Bu LIM SENG JIN IT WAS with mixed feelings that the assembly at St Margaret’s Secondary School watched the national and school flags being lowered at its Farrer Road site on May 28. Singapore's oldest girls' school is moving to the former Tanglin Secondary School site
      SOMA TAN  -  319 words
    • 383 8  -  Bu IYSBIR SINGH ami ELENA CHONG A VAN-DRIVER who tried to run away after hitting a motorcyclist found himself in the dock on Monday thanks to the quick thinking of neighbourhood teenagers who saw through his “cool" act. Odd-job labourer Teo Swee Chye, 38, (above)
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  • Page 7 Advertisements
    • 186 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 may be. Yes! Every week. Subscribe now. And be at home with the ST
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  • Page 8 Miscellaneous
    • 1061 8 RADIO SINGAPORE INTERNATIONAL (ENGLISH) PROGRAMME SCHEDULES 1100 1400 Hours (GMT) 6015 KHz (49M BAND) 6150 KHz (49M BAND) MONDAY 1100 News 1109 Business Market Report 1115 Arts Arena 1130 News 1135 Wired Up 1145 Newsline 1200 News/Weather (AsiaPacific) 1210 E Z Beat 1230 Business Market Report 1235 The Written Word
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  • SPORTS
    • 590 9  -  Geylang Utd edges out Tanjong Pagar in a nignt of controversies S-LEAGUE SOCCER «!t SANTOKH SINGH IN A match that was headed for controversy even before the first whistle, Geylang United beat Tanjong Pagar United on Tuesday night to go to the
      JEKKY SCII  -  590 words
    • 440 9  -  GOIE ĔIL TAY CHENG KHOON THE Singapore Golf Association and the Asian PGA have not authorised anyone to sell hospitality tents for the Singapore Open Golf Championship at Safra Resort and Country Club this August. This warning was issued by the two bodies after several large
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    • 178 9  -  BOWLING Bt, CHAN TSE CHUEEN EIGHT bowlers have been named as contenders for four berths to September's Commonwealth Games in Kuala Lumpur. Jack Wong. Tommy Ong, Ronnie Ng and Lim Choon Heng for the men’s team, and Jesmine Ho, Catherine Kang, Grace Young and
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  • MALAYSIA
    • 546 10  -  Blames slower traffic, rising costs and forex losses for first deficit in more than 10 years «v DOUGLAS WONG IN KUALA LUMPUR MALAYSIA Airlines (MAS) last Friday reported a worse-than-expected MS26O million (SSIO7 million) net loss for the year ended March 31, and
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    • 457 10  -  BRENDAN PEREIRA IN KUALA LUMPUR THE on-off monorail project is on again, thanks to a Ms3oo million (SSI24 million) soft loan which the government agonised over before offering. Decision-makers were concerned that this loan could lead to a fresh round of charges that Kuala
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    • 461 10 PETALING JAYA Schools will have their water, electricity and telephone supplies cut off soon unless the Education Ministry's annual grants are dispensed without further delay. The Star reported on Monday that schools in Selangor and Kuala Lumpur had yet to receive their grants. Schools
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  • SOUTH-EAST ASIA
    • 473 11  -  His foreign policy adviser says president-elect Joseph Estrada wants to speed up economic cooperation with the Republic IX Z BAGLIORO IN MANILA PRESIDENT-ELECT Joseph Estrada will work to strengthen bilateral ties with Singapore, which he once wanted severed following the execution of a Filipino maid
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    • 303 11 Reuters SRIRACHA (Thailand) Nine years ago, when Thailand was aspiring to be the fifth Asian tiger economy, businessman Maitree Temsiriphong decided to make his comment on that ambition by starting a zoo with four Bengal tiger cubs. Even though the nation’s economic ambitions now lay in
      Reuters; KKI Tl KS  -  303 words
    • 493 11  -  By EDWARD TANG THAILAND CORRESPONDENT BANGKOK Concerned with economic troubles at home amid a fresh wave of financial instability sweeping across Asia this week, Prime Minister Chuan Leekpai has decided to cancel his overseas trips for the next three months. Foreign
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  • COMMENTARY
    • 587 12 THURSDAY Tune 4,199$ NOW that former movie star Joseph Estrada, hero of the silver screen, has been declared the next President of the Philippines officially, he will get to play in real life what he calls his “last and greatest performance" when he takes office on June
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    • 563 12 WEDNESDAY June 3,1998 IF THE number of questions about the economy that were asked in Parliament on Monday reflected mounting public anxiety. Finance Minister Richard Hu’s calm and confident replies betokened the Government’s reassuring ability to handle whatever the next few weeks or months might have
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    • 740 12  -  Second Last Word hjL 808 NG ARE Singaporeans getting to be a bunch of softies or what? In my view, no doubt about it. Yes. Why do I think so? Simple, just look at the results of the SPH survey on stress in Singapore,
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    • 955 13  -  MY VIEW Hr, SANDRA DAVII WANT to hear a heartwarming tale? The Education Ministry has collected a few hundreds of them over the last three weeks. They are attached to the nomination forms for the President's Award for Teachers which was launched earlier
      LI'DWIC 11.10  -  955 words
    • 841 13  -  BY THE WAY By TAN SAI SIONG SINGAPOREANS fearftil that doctors here might be taking the first steps down the primrose path received good news last month. Asiamatrix, a company with which four medical specialists had struck a deal, said it no longer needed
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  • INSIGHT
    • 1390 14 Three in four Singaporeans think that life here is stressful, according to a Straits Times survey published last week. Could the must-have-it-all syndrome of Singaporeans be the reason And what can be done about it? PANG GEX CHOO /iW.s out. Halfway across the world,
      NOEL KOSALES  -  1,390 words
    • 471 14 SO WHAT can be done to lower the overall stress level of Singaporeans? Here are some suggestions: CHANGE mindset: If the genesis of stress is a misplaced notion of success, then redefine success, advocates Marine Parade GRC MP Mrs Lim Hwee Hua, who
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    • 1424 15  -  THINKING ALOUD By lIAN FOOK KWANG A REVOLUTION has taken place at our doorstep, with hundreds killed, the capital city of Jakarta devastated bv arson and looting. but life here goes on as usual. The shopping centres and cinemas still buzz with customers with nothing more
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    • 923 15  -  THIS WEEK IN POLITICS By KOI I BUCK SONG THE signals that were sent last week, on the Government’s next move in managing the economy through the regional crisis, were reassuring. Deputy Prime Minister Ix*e Hsien Loong remarked last Saturday that the
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  • MONEY
    • 375 16 THE Singapore bourse reeled again from renewed selling this week after fears that a regionwide downturn could tip Singapore into a recession. Already Hongkong, Malaysia and Indonesia have reported negative growth in the first quarter. Although Singapore’s first quarter growth was a
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    • 1882 16 Company Dat# Ann Net earn TY LV <$m) <$m> EPS TV IY (Cts) (cts) Alliance Tech Mar 27 P 30.423c 1.815 36.8 2.68 AsiaPac Land* Apr 30 P 3.707 36.089 0.50 5.10 Amsteel Bhd* Mar 31 1 *****7L 64.863 47 L 5.20 Amara H Mar 26 P 7.425
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    • 210 16 RIGHTS ISSUE ExBooks Acc t Company Ratio date close Paymt OUE Two-for-flve @S$2.7S May 12 May 19 Jun 8 BONUS ISSUE ExBooks Company Ratio date dose Flextech One-for-five Jun 2 Jun 9 NYA SM Summit One-for-two Jun 2 Jun 9 Jun 25 Sup Metal One-for-two Jun 2 Jun
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    • 77 16 ST Industrials Index The Straits Times Industrials Index dropped the week to 1168.46. 86.47 points on DAY CLOSE TURNOVER Monday ’,234.59 (-20.34) 123.972 ($236.669m) Tuesday 1207.12 (-27.47) 130.760 ($l93.837m) Wednesday 1219.80 (+12.68) 176.478 ($218.176m) Thursday 1187.74 (-32.06) 110.881 ($176.480m) Friday 1168.46 (-19.28) 110.171 ($206.583m) BT-MGA Index The
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    • 1281 16 Payment (cts) Cx date Books close Pay date G&W D 1 Jun 30 Jul 7 Jul 20 Guinness 50c F IB Jun 29 Jul 6 Jul 22 Gul Tech 20c F 06 Jul 7 Jul 14 Jul 28 HBM Print 10c F 0.1TE Jul 6 Jul 13 Jul
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    • 15 16 Company Bonus Issua Eastarn Pub Ona-for-two Liang Huat Ona-for-ona Rotol Ona-for-ona Zagro Ona-for-ona
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    • 63 16 Company Ploco Dote Time T«t It* A Contoronce Rm 701 Jun 6 9,45a Bonk TIB Tampines Centre 31 Tompinos Avo 4 Mow Por A UOB Plojo 1, 61st Sty Jun 3 2.00pm Corp 80 Rofflos Ploco Spore (*****4) NOL A NOL Bldg, 4th Storoy 456 Alexandra Rd Jun
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    • 264 16 Payment (cts) Ex date Books close Pay date ACE Dynamics20c F 0.05 Jun 12 Jun 19 Jun 30 Aetna 50c F 7.5 Jul 2 Jul 9 Jul 22 Acer 50c F 2.5TE Jun 2 Jun 9 Jun 18 ACMB F 4 Jun 15 Jun 22 Jul 9 ANA
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    • 366 17  -  Bt< lit NARENDRA AGGARWAL INTEREST rates on foreign currency deposits in Singapore, including those made in Malaysian ringgit, are set bv market forces and the Monetary Authority of Singapore (MAS) has no control over them. The MAS said on Monday that it has no
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    • 142 17 COUNTER RATES Buying 00 Selling Singapore dollars to one unit ot foreign currency US dollar 1.6670 1.6997 Sterling pound 2.7032 2.7912 Australian dollar 1.0027 1.0437 Canadian dollar 1.1373 1.1726 N2 dollar 0.8527 0.8899 EC unit 1.9012 Singapore dollars to 100 units of foreign currency Austrian schilling 13.1574 13.8577 Belgian
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    • 112 17 Contract date: Job* 5,1998 Unit One mth 3 mths 6 mths 9 mths 12 mths Cell Value date us 5 S'/. 57. 5V. 57. 4'7* 9/6 AS —4/, 47; 47, 47, 47, 3->/. 10/6 HZ 77. 7 V. 7'V. 7V. 77. 77. 9/6 STC 7 77. 77..
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    • 412 17  -  The decision will hinge on the compensation it must pay for the early termination of its lease B,j Btf KALP4NA KASHIWALA RETAILER C.K. Tang may move its loss-making Tangs Studio fashion store from Ngee Ann City into its flagship Orchard Road department store in
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    • 345 17 MARCO Polo Developments on Monday announced its full-year net earnings nearlytripled and said it was studying the feasibility of delaying the redevelopment of its Tanglin Road hotel into a plush condominium. The study, being made in view’ of the regional financial turmoil and weak residential
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    • 845 17 Manager's prices: June 6,1998 Aberdeen Asset Mqt Asl* Ltd Aberdeen S pore Gr Fund 0.796-0.837" Aberdeen Select Portfolio let N A V) Pacific Equity Fund 0.854" Malaysian Equity Fund 0.927” Sinqapore Equity Fund 0.764" Thailand Equity Fund 0.951" AIBCovett (Asia) Ltd Goirett Asia Pacific Growth Fd 0.763-0.802* Govett
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    • 3893 18 Transaction Sate: June 5,1996 1 INDUSTRIAL t COMMERCIAL 1998 Curr Last High Low Company Traded Sale ♦Of Vol Day 000 High Low Gr's Net M Cap Oiv P/E $mil Wt Avg Price 43 16.5 e ACE Dynamics60c. 16.5 cd unch 120 17 16.5 0.1 20.6 13.5 17
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    • 807 18 1998 High Low Company Curr Lett Traded Sale ♦orVol '000 Day High Low Or'* Div Net P/E M Cap $mil Wt Avg Price 134 79.5 e ABR Hldgs 5c 88 42.9 81 243 76 AS Auto 10c 97 5 -3.5 261 102 97.5 15.ON 8.1 111.3 100 82 48.5
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    • 1562 19 BONDS, LOANS WARRANTS Transaction date: June 5,1998 1998 Last Vol Day Last Quote Wt Avg High Low Company Sale ♦Of '000 High Low Buyer Seller Price 23.5 9 m m AMDS c5.5%*****6 12 11 14 20.5 8 'Acer W*****1 USS 10 7.5 9 95 85 Acme WO'0724 12.5 unch 2
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    • 1264 19 Transaction date: June 5,1998 1998 Curr Last vol Day Gross Nat M Cap High Low Company Tradad Sala or000 High Low dlvH P/E Smll MALAYSIAN STOCKS (in S$) 135 65 5 28 12 5 51 ♦1 74 51 21 50.5 20 5.0 5.0 21.1 6.3 52.3 122.5 m
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    • 349 20  -  §!L NG WEIJOO LIFE insurer Prudential Assurance Co Singapore is expected to tie up with Standard Chartered Bank in a deal which could lead to the emergence of a new breed of financial advisers here who can sell both banking and insurance products. Under
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    • 554 20  -  World Economic Forum also says it will enjoy good conditions for medium-term growth H't Bt/ YARENDRA AGGARWAL SINGAPORE has once again been ranked the world’s most competitive economy despite the impact of Asia’s financial crisis and the country's me-dium-term growth prospects are good.
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    • 328 20  -  'SINGTU IS WELL POISED TO MEET THE DEMANDS FOR SMART CARDS NOT ONLY LOCALLY BUT WITHIN THE REGION.' The company’s LEO for consumer sales Tan Kee Joo MOVE INTO MANUFACTURING *IL KELVIN WONG SINGAPORE Telecom is to manufacture phone cards for the
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    • 221 20 SINGTEL Paging, together with Motorola and Glenayre Technologies, will be the first in Asia to offer wireless voice paging when they launch their free service trial in Singapore next month. With wireless voice paging, customers can listen to voice messages directly from their
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  • Page 21 Advertisements
    • 843 21 The Straits Times Weekly Edition x-:-x* MIT Pte Ltd is one of Singapore’s top 50 most enterprising companies. As a specialist in semi-conductor equipment design and manufacturing, our growth is in tandem with the region’s fast expanding semi-conductor industries. We require professionals with the spirit to achieve to join our
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  • Page 22 Advertisements
    • 1049 22 We invest in THE BEST. /7 f areer decisions should be made prudently because they determine your long-term future. When you join the Government of Singapore Investment Corporation Pte Ltd (GIC), you are making a prudent decision which gives you good long-term returns. We are the largest global find management
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  • FORUM
    • 310 23 I REFER to the daring and provocative article “S’poreans are a bunch of softies” (see Page 12). Instead of calling Singaporeans “softies”, I would say that we are a “confused lot” trying to find our identity in the shortest possible time. We want the
      LCDWIC 11.10  -  310 words
    • 538 23 I AM quite upset by Mr Han Fook Kwang’s Thinking Aloud column, “Peaceful handover that wasn't” (see Page 15). Yes, the Forum Page is deluged with the same old parochial issues. But, whose fault is it that such parochial issues are being aired?
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    • 232 23 I READ with concern the situations in Indonesia, which seem to have arisen from price hikes of rice and other basic commodities under the conditions laid down by the International Monetary Fund’s rescue package. Some cracks appeared recently in the Thai economy,
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    • 469 23 I REFER to the letter “Food stalls need space” by James Wong Joo Sin (ST, May 28). Let me first explain that a “C" grade means that the premises are reasonably well-maintained and that the standard of both food hygiene and personal hygiene of the
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  • 672 24  -  Btj_ 1 CHAN WEE CHt AX LISTED Government-linked companies Singapore Technologies Industrial Corporation (STIC) and Sembawang Corporation are merging to create a diversified Asian conglomerate with ambitions to become a dominant force in the region. The new company, SembCorp Industries (SCI), aims to be a
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  • 428 24  -  ERP system fails to operate on the East Coast Parkwav on Monday because of a “programming oversight” By LEONC CHANTEIK AN ESTIMATED 14,000 motorists enjoyed a free ride on the East Coast Parkway on Monday when the electronic road pricing (ERP) system failed to operate. The
    Ml'il AMMAI) SHAH  -  428 words
  • 321 24  -  Bti YEOW PEI UN LURED by forced-sale bargains, buyers snapped up 21 properties put up for auction in the first quarter a 90 per cent jump on the number sold in the same period a year ago. The properties were worth a
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