The Straits Times : Weekly Overseas Edition, 18 July 1998

Total Pages: 24
1 24 The Straits Times : Weekly Overseas Edition
  • 21 1 The Straits Times Weekly Edition Saturday July 18,1998 Price: S$ 1 .20 (in Singapore) Elsewhere by subscription only MITA (P) 047/08/97
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  • 627 1  -  Criticising without offering serious suggestions is like biting one’s tail. He asks businessmen to have more faith in the Govt By WALTER FERNANDEZ PRIME Minister Goh Chok Tong last night called on the business community to have faith in the Government’s leadership in
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  • 392 1  -  Bu LEONG WENG RAM SOME of Singapore’s top artists and arts companies are for hire. Organisers of cultural events from all over the world are invited to take them on. The National Arts Council (NAC) is selling them at international arts markets with the message: Singapore
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  • Page 1 Advertisements

  • PRIME NEWS
    • Article, Illustration
      92 2 GUTTER SPIES No, this is not a close-up of a dentist’s equipment. It is part of the Environment Ministry’s new high-tech war against dengue fever. Mosquito traps and “surveillance” methods are no longer what they used to be. Environment Ministry officers have turned to closed-circuit TV cameras to
      TAX SHAN ANN  -  92 words
    • 521 2  -  The Court of Appeal raises damages to $lOO,OOO and awards Mr Goh the full costs Bn AHMAD OSMAN THE Court of Appeal has raised from $20,000 to $lOO,OOO the damages won by Prime Minister Goh Chok Tong in his defamation suit against
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    • 737 2 CPF cut not needed this year says NTUC THE NTUC does not think a Central Provident Fund (CPF) cut is needed this year, but the move can be considered next year to save jobs if there is a bad recession. “If next year the worst happens, and the Singapore economy
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    • 550 3  -  Natural gas will be imported through a pipeline from West Natuna Sea to Jurong Island SUSAN SIM INDONESIA CORRESPONDENT JAKARTA Singapore and Indonesia on Monday sealed a US$B billion (5513.5 billion) gas sales agreement hailed by both sides as a milestone in bilateral cooperation,
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    • 545 3 JAKARTA The International Monetary Fund (IMF) on Thursday approved the immediate pay-out of a long overdue USSI billion (SS 1.7 billion) loan to Indonesia and said donors had agreed to top up the current financing package with another US$6 billion. Just hours later, top
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    • Article, Illustration
      41 3 THE TRAUMA A demonstrator, covered in white, portraying a rape victim’s trauma at a demonstration on Friday in front of the Ministry of Defence and Security in Jakarta. The protest was against widespread rapes during May riots. STEPHANIE YEOW
      STEPHANIE YEOW  -  41 words
    • 367 3  -  Oil NGWEIJOO CASH-STRAPPED insurance holders have been letting their policies lapse at the staggering rate of about 4,000 a month, say sources. The figure which applies to the Big Four life insurers is a conservative 10 to 20 per cent up from the same
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  • HOME
    • 411 4  -  CHONG CHEE KIN THE police rounded up 19 Indian nationals sleeping out in the open in Little India early on Tuesday morning. But, far from being upset, the vagrants were happy to be picked up. A Straits Times team accompanied the police in the
      AZIZ HI'SSIN  -  411 words
    • 327 4  -  Ignorance of interest rates charged by credit card issuers may lead to unforeseen burdens B>/ 1 KOH BOON PIN ROLLING over one's credit card balance instead of paying for it in full can lead to serious problems, especially if the cardholder is not aware of
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    • 304 4  -  Reports by Reports by DOMINIC NATHAN CHANGI Airport is sitting on land worth over $1 billion for which title deeds have not been issued for 10 years. The Auditor-General discovered this anomaly in the course of an audit. In 1988, the Finance Minister had approved
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    • 320 4 FIFTY-FOUR teachers and other Education Ministry staff who resigned between July 1995 and last December continued to get paid after they had stopped working, according to a payroll audit. The Auditor-General's Office, which uncovered the discrepancy, said that the salaries paid amounted to 5232.350.
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    • 435 5  -  Bt/i GINNIETEO ABOUT 1,400 stallholders will receive a 10 per cent rental rebate this year, saving them between $4O and $BOO a month. At the same time, 2,000 owners of stalls will be given a 55 per cent property tax rebate for
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    • 389 5  -  Bn CHONG CHEE KIN THE principal of a child-care centre at the KK Women’s and Children’s Hospital died on Wednesday, a day after she fell four storeys from a ledge, apparently while trying to get back into her office. Police said that she
      ALPHONSOCHAN  -  389 words
    • 386 5  -  The poor job market and the competition from older workers making it tough for new entrants CHIN SOO FANG FRESH polytechnic and university graduates, and even people with postgraduate degrees, are turning to part-time and temporary jobs, driven to it by fierce competition from
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    • 371 6  -  Bu CHL A CHIN HON A FULL-TIME National Serviceman who had fractured his hand recently dived fullyclothed into a canal early last Friday to save a drowning man. But he was swept away, along with the man he was trying to rescue. The bodies
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    • 405 6  -  Only 302 sought replacements between July 1 and 7, compared with 889 in same period last year Hu SITI ANDRIANIE THE heft)' replacement fees for lost identity cards that came into effect on July 1 seem to have worked. This is the
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    • Article, Illustration
      30 6 The big rush to replace lost identity cards before the July 1 deadline. Few came to replace ICs on July 10 as new rules worked their magic.
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    • 425 6  -  Brt GERALDINE YEO MORE students, including those from the minority races, are making it to secondary school and tertiary institutions, according to information released by the Education Ministry. But while Indian and Malay students have been doing better, the gap between their performance
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    • 638 7  -  EduMALL is in cyberspace and it’s open to all who want to pick up ideas and teaching resources Report s hi/ CHANG AI-LIEN TEACHERS now have an electronic mall where they can shop for and trade ideas, use online information and educational services and
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    • 257 7 THE PSA Corporation Limited will reduce its local scholarship bond period from five to four years. And its scholars who study in overseas universities will now need to serve only six years instead of eight. The new bond periods also apply to scholars still
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    • 438 8  -  Undergrads will be prepared for exchange programmes in non-English-speaking countries «1 SAN DR A DAVIE THE National University of Singapore (NUS) will offer language immersion to prepare its students for exchange programmes in non-English-speaking countries like France, Germany and Japan. Announcing the scheme last
      A7IZHCSSIN  -  438 words
    • 176 8  -  Btj SANDRA DAVIE THE National University of Singapore has revamped its computer science degree course to make it more relevant to industry needs. Previously, the university offered only one degree course the Bachelor of Science (Computer and Information Sciences). This year, the 480 first-year students will
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  • Page 5 Advertisements
    • 140 5 Gain a Strategic Understanding of the Region f*’* MASTER OF ARTS IN ASIA PACIFIC STUDIES An internationally-recognised qualification awarded by one of the UK's premier institutions, the MA provides comprehensive coverage of contemporary business politics in China, Japan, Korea, Indochina Myanmar, SE Asia and the Pacific Rim. OUR 17TH INTAKE
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  • Page 7 Advertisements
    • 181 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
    • 1062 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
    • 498 9  -  Seniors Selvaraj, Tan, Saswa and Zakaria out of Tiger Cup in an obvious transition for Lions SOCCER Bi/ SANTOKH SINGH SENIOR players V. Selvaraj, Steven Tan, Saswadimata Dasuki and Zakaria Awang have been dropped from the national soccer team’s Tiger Cup assignment in Vietnam starting
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    • 489 9  -  SOCCER «2. SANTOKH SINGH CONTROVERSY over sporting behaviour surrounded Tanjong Pagar's 2-2 draw with Balestier Central at the Toa Payoh Stadium on Tuesday night. The Jaguars accepted that the result may have set them back a little in the title race as
      JFHM SKH  -  489 words
    • 250 9 HOCKEY FORMER international umpire Charan Singh has been suspended for life by the Singapore Hockey Federation. An SHF disciplinary committee, headed by its vice-presi-dent Annabel Ess. found him guilt)- of bringing the game into disrepute. Following a complaint by Yuhua Secondary Schooi principal Lo Chee Lin, who
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  • MALAYSIA
    • 484 10  -  If measures fail to stimulate economy, the shrinkage may be sharper than 1 to 2 per cent By BRENDAN PEREIRA IN KUALA LUMPUR MALAYSIA’S economy is likely to shrink between 1 and 2 per cent this year, Finance Minister Anwar Ibrahim said on Monday. It will
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    • Article, Illustration
      77 10 COCONUT MONEY Coconuts lie at the heart of an Alor Star secondary school’s efforts to raise money to pay for its activities. Under the “one-pupil-one-coconut” drive, students of the Permatang Bonglai High School are required to bring a coconut each to school every month. The fruit is then
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    • 371 10 AFP KUALA LUMPUR Malaysia’s plan to compel local exporters to use the country’s largest port instead of Singapore is merely to “take back what has been stolen from us", said Transport Minister Datuk Seri Dr Ling Liong Sik. In a report published
      – AFP  -  371 words
    • 240 10 KUALA LUMPUR The group editor-in-chief of Malaysia's most influential publishing company has resigned following what some officials called a conflict with the leadership of the ruling party. The officials said Mr Johan Jaaffar, 44, who oversees the fmblication of the leading Ma-ay-language daily Utusan
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    • 309 10 New Straits Times KUALA LUMPUR The government will not inquire into the source of funds repatriated until year-end and will make such remittances eligible for tax exemption in a move to encourage Malaysians to bring home their money from abroad. Deputy Finance Minister
      – New Straits Times  -  309 words

  • SOUTH-EAST ASIA
    • Article, Illustration
      41 11 TOU6H TIMES l McDonald’s boss in Indonesia Bambang Rachmadi beside a dummy of Ronald McDonald at an outlet in Jakarta. He has bad to temporarily shut down 21 outlets as a Big Mac now costs two days’ wages. kf.utkhs
      kf.utkhs  -  41 words
    • 341 11  -  By SUSAN SIM INDONESIA CORRESPONDENT JAKARTA A potential threat to President B.J. Habibie’s continued rule beyond November receded last Saturday when one of his ministers secured the leadership of ruling party Golkar in a showdown hailed by many as a triumph for Indonesia’s democratic
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    • 511 11  -  The sum is being set aside to f>rovide ‘cost of living allowance’ or those in lower-income group By IGNATIUS STEPHEN IN BANDAR SERI BECAVVAN GIVING a clear indication of the nation’s continued financial strength, Sultan Hassanal Bolkiah of Brunei pledged a Bsl billion
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    • 497 11  -  By EDWARD TANG THAILAND CORRESPONDENT BANGKOK Asean will set up a satellite television channel which will enable its members to have direct access to current news and information about each other within two years. In announcing this on Tuesday, Mrs Supatra Masdit, Minister to
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    • 155 11  -  By NIRMAL GHOSH PHILIPPINES CORRESPONDENT MANILA In moves likely to be controversial, the Estrada administration has announced it will abolish an agency pursuing cases against former dicta- tor Ferdinand Marcos, and that it is open to a compromise on pending tax
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  • COMMENT
    • 593 12 FRIDAY lulv 17,1998 TIMES are hard for many companies. Struggling to stay afloat, their reflex is to downsize and cut costs to the bone. A natural thing to do. perhaps, but there is a tendency for some to go overboard, and when this happens, downsizing becomes dumbsizing.
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    • 600 12 TUESDAY July 14,1998 AS Indonesia's ruling Golkar party attempts a metamorphosis to break away from its past, President Jusuf Habibie reaps the benefit of incumbency to bolster his hold on power. He has won an important victory with the election of Mr Akbar Tanjung, his key
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    • 789 12  -  Bu SIA CHEONG YEW THE current economic slowdown has resulted in thousands of Singaporeans losing their jobs as companies retrench staff so they can stand a better chance of survival. In this nationwide exercise to cut costs, some employers do it sensitively so that
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    • 1056 13  -  MY VIEW CHL A MUI lIOONG THE old saw about the civil service being neither civil nor intending to serve is an old, old one that draws more groans about hackneyed savings than applause for wit. Of course, the civil service Singapore’s
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    • 882 13  -  BY THE WAY By TAN SAISIONG DO BAD things happen to bad people? Those who conduct moral lessons for the very young will no doubt answer “yes” without hesitation. And their belief will find good support if they use what has been happening to
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  • INSIGHT
    • 1856 14 Assessments differ os to hotc bad it will get for the Singapore economy. But in the event of a prolonged downturn what does Singapore have going for it and against it? ZURAIDAH IBRAHIM reports. ACCORDING to Prime Minister Goh Chok Tong last week, there is
      NOEL HOSAI.ES  -  1,856 words
    • 1211 15  -  THINKING ALOUD WARREN FERNANDEZ JUST when you thought it was safe to return to Malaysia for a leisurely drive and a spot of weekend shopping, comes another of those annoying sudden swings in bilateral ties. Was it so long ago that both
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    • 912 15  -  THIS WEEK IN POLITICS KOH BECK SONG THE Prime Minister’s remarks last Tuesday, on the “fairly high” chances of a recession next year, certainly made waves last week. In the worst-case scenario, they could even hurt business and consumer sentiment here, and worry investors, from now till,
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  • MONEY
    • 394 16 JAPAN took centrestage this week as the shock resignation of Prime Minister Ryutaro Hashimoto on Monday shook the entire region and left the Singapore bourse in tatters. Mr Hashimoto had quit after failing to secure the targeted 61 seats in the 252-seat Upper House elections.
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    • 77 16 ST Industrials Index TIm Straits Timas Industrials Indox rosa 4.75 the waafc to 1095.10. points on DAY CLOSE TURNOVER Monday 1053.19 (-37.16) 119.395 ($220.380m) Tuesday 1042.44 (-10.75) 86.866 ($139.073m) Wednesday 1056.01 (+13.57) 105.637 ($179.467m) Thursday 1073.97 (+17.96) 86.879 ($194.269m) Friday 1095.10 (+21.13) 200.520 (S323.990(n BT-MGA Index The
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    • 1894 16 Company Odtt •nn Nat earn TV LV <$m) (Sm) CPS TV LY (Cts) lets) AsiaPac Brew Jun 12 1 37.235 49.462 14.7 19.5 AsiaPac Lena Apr 30 P 3.707 36.089 0.50 5.10 Ait landra Hldg Jun 30 P 9.575L 3.948 32L 13.1 Amara M Mar 26 P 7.425
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    • 195 16 RIGHTS ISSUE Company Ratio Exdate ff Acc Peymt Pac Cantury Slx-for-ten ®S$1.00 Jon 24 Jult Jul 21 BONUS ISSUE ExBooks Company Ratio date close Rotol Ono-for-ona Jun 30 Jul 7 Jul 20 Zagro One-for-one Jult Jul 8 Jul 23 Liang Muat Ona-for-ona Jul 2 Jul 9 Jul 21
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    • 30 16 Company Rights Issua AsiaMatnx (aach wrt carrying Rts to sub) tan rights sharas with 3 warrants for ovary tan axistIng sharas Company Bonus Issua Matalock IDT two-for-ona ona-for-two
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    • 51 16 Company Place Date Time Rothmans A Ind IS Senoko Loop S'pore (*****«) Jul 28 11.30a Courts A 22 Pandan Rd S'porel*****4) JUI 24 11.00am Pacific A Andes The Percival Rm Fort Canning Club 11 Canning R*****81) Jul 21 2.30 pm A: ACM, E: EGM, W: Warranthoiders Matting, S:
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    • 246 16 Payment <eti) Cl data i! Aetna 50c r 7.5 Jul 2 Jul 9 Jul 22 Alexandra 50c t> 1.5 Seo 9 Sep 16 Oct 6 Amara 20c t> 0.4 Jul 10 Jul 17 Jut 30 Apollo r 1 Jutl Jul 8 Jul 20 AsiaPac 8rew 9 Jun 30
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    • 1253 16 Payment lets) Cx date Books close Pay bate Form Hldgs F 0.5 Jul 9 Jul 16 Jul 31 Fuji Offset 20c b 2TE Jul 6 Jul 13 Jul 23 Flextech 15c b 0 4 Jul 3 Jul 10 Jul 23 FMTK 20c b 0.5 Sep 22 Sep 29
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    • 351 17  -  Tax collection fell by 4.4 per cent in first five months of this year first decline in a decade »V Bu NARENDRA AGGARWAL THE economic slowdown has begun to hit the Government’s revenue. Taxes collected in the first five months of the year fell 4.4 per
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    • 410 17  -  By, JEAN CHIA THE Government has appointed investment consultants William M. Mercer as the independent consultant to vet all wannabe fund managers and unit trusts vying for Central Provident Fund-approved status. When contacted on Monday, a CPF spokesman and William M. Mercer (Singapore) executive director
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    • 320 17  -  By TAMMY TAN SINGAPORE Technologies is conducting an internal audit of all its telecommunications ventures which may result in the disposal of its 45 per cent stake in CyberWay, sources say. They said talks with CyberWay partner, Singapore Press Holdings, had begun and
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    • 156 17 PACIFIC Internet has unveiled new lower pricing plans but admits it is still the most expensive operator in town. The new rates, announced in response to similar cuts by rivals Sing Net and CyberWay over the past two weeks, will bring it more “in line with
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    • 146 17 COUNTER RATES i Buying 00 Selling Singapore dollars to on# unit ot foralqn currency US dollar 1.6641 1.6997 Starling pound 2.7057 2.7986 Australian dollar 1.0364 1.0805 Canadian dollar 1.1098 1.1464 NZ dollar 0.8666 0.9059 EC unit 1.8840 Singapore dollars to 100 units ot foreign currency Austrian schilling 12.9776 13.6922
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    • 110 17 Contract date: July 17. me Unit If 3 mths 6 mth* 9 mth* 12 mth* cm Valua data US 5 57» 57, 57. 57» 47» 21/7 AS 47» 47, 47, 47» 47, 37, 21/7 NZ 67» 67, 67» 67. 67. 5/, 21/7 STG 6V| 77» 77» 77.
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    • 777 17 Managers’ prices: July 18,1998 Aberdeen Mill M<jt Asia Ltd Aberdeen SporeGr Fund 0.718-0.755** Abardaan Salad Portfolio (at N A V) Amarican Opportunities Fd 0.950** Japan Equity Fd Aslan Fixed Income Fund 0.920** 0.826** 0.463** Indonesian Equity Fund 0.727** 0.763** aib Govatt (Aala) Ltd Govatt Asia Pacific Growth Fd
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    • 3431 18 Transaction date: July 17,1998 INDUSTRIAL COMMERCIAL 1998 Vol Day Gfa Net M Cap Wt Avg High Low Company Traded Sale ♦or•ooo High Low DlvSti P/C smll Price 43 12.5 e ACE Dynamics20c.. 14.5 ♦0.5 97 14.5 14 0.1 18.1 11.9 14 31 19.5 e ASACaramic 20c US22.5
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    • 836 18 IMS High Low Company Curr Last Traded Sale ♦orVol ‘000 Day High Low Cr-s DIvH Net Pit M Cap $mll Wt Avg Price 134 50 e ABR Hldgs 5c 79 38.5 79 243 64 e AS Auto 10c 71.5 ♦0.5 328 73 71 15.0N 6.7 81.6 67 82 485
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    • 1537 19 BONDS, LOANS WARRANTS Transaction date: July 17,1998 1998 Last Vol Day Lest Quote Wt Avg High Low Company Sale ♦or•ooo High Low Buyer Seller Price 23.S 9 m m AMD8c5.5%*****6 10.5 uncb 5 10.5 10.5 10 11 20.5 5 'Acer W*****1 US$ 5.5 unch 3 5.5 5.5 5 6 95
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    • 1379 19 Transaction date: July 17,1998 1998 Hlqh Low Company Curr Last Traded Sale Vol ♦or'000 Day High ow Gross dly Net P/E M Cap Smll MALAYSIAN STOCKS (in S$) 135 28 m AISB50C 44.5 ♦5 284 46 40 5.0 19.2 45.6 65.5 12.5 m AMOBSOc 15.5 ♦1 431 16
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    • 553 20  -  Bu DENNIS CHAN TRAVELLERS flying Singapore Airlines (SIA) will be able to purchase their tickets on the Internet early next year, says its chairman Michael Fam. Responding to a shareholder’s question at SlA's annual general meeting last Saturday on whether the airline
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    • 718 20  -  OCBC and OUB raise current account costs in an effort to weed out small inactive accounts TAN LI ENG anil REBECCA LEE CURRENT account holders, prepare to pay more for your banking services. At least one bank has increased current account service charges as
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    • 363 20  -  Bu TAMMY TAN MOBILE phone operator Ml is likely to reap profits of $l5 million to $2O million this year, making it one of the world’s most successful cellular businesses. Sources said Ml, which is not yet even two years old, will exceed
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  • Page 21 Advertisements
    • 946 21 m 1 The Straits Times Weekly Edition CB Richard Ellis CB Richard Ellis, a leading property consultancy firm, is looking for a motivated capable individual to fill the following position for an exclusive condominium in the Jurong area: PROPERTY OFFICER Minimum 3 years' working experience in the security, maintenance and
      946 words

  • Page 22 Advertisements
    • 778 22 teer your career forward. At Trans-Island Bus Services Ltd, there is only one way to go Forward. Coupled with our drive and dedication, our single-minded commitment to progress has made us one of the region’s foremost transportation companies. Join us and take your career places. OPERATIONS OFFICERS In this capacity,
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  • FORUM
    • 624 23 IN HER insightful article, “Change civil service mindset towards input from public” (See Page 13), Ms Cnua Mui Hoong stated rightly that “the way the bureaucracy responds to public initiative is a critical element in developing a civil society”. Thinking Singaporeans will agree with
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    • 656 23 I REFER to letters by Mr Chia Hern Keng, “Puzzled over sentence for house-breaking" (ST, July 13) and Mr Rudy Lee, “Why not just hang menace?” (ST, July 14). As a rule, the Courts do not reply to public comments in the press on judgments
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    • 360 23 THE issue of foreign workers has been reported quite frequently in the newspapers lately. In The Straits Times’ reports on Wednesday, we learned that the authorities have started operations to round up vagrants sleeping along corridors in Norris Road and Kampong Kapor Road.
      AZIZ HVSSIN  -  360 words

  • 516 24  -  Ng Teng Fong among five taking advantage of Govt’s time extension offer for private housing developments H'l YEOW PEI LIN PROPERTY magnate Ng Teng Fong is among the first batch of five developers to take up the Government’s offer of extra time to complete private residential
    ADAM I KK  -  516 words
  • 471 24  -  By] LEA WEE THE calm waters off the Punggol Marina drew a big group of surprise visitors about 20 to 30 dolphins, which showed up last Thursday and stayed through the weekend. Much to the delight of marina members, the gentle sea tfnammals were found frolicking in an
    PICTURES MUHAMMAD SIIAII  -  471 words