The Straits Times : Weekly Overseas Edition, 15 August 1998
1998-08-15
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The Straits Times : Weekly Overseas Edition
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Title Section20 1998-08-15 1 The Straits Times Weekly Edition Saturday August 15,1998 Price: S$ 1.20 (in Singapore) Elsewhere by subscription only MITA (P) 047/08/9720 words
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534 1998-08-15 1 Bii NARENDRA AGGARWAL - Key manufacturing and commerce sectors post negative growth in the last quarter, indicating further slowdown By Bii NARENDRA AGGARWAL SINGAPORE’S key manufacturing and commerce sectors reversed sharply into negative growth last quarter, signalling a further slowing of the economy, figures released on Tuesday show.534 words
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Article, Illustration433 1998-08-15 1 TAN OOIROON - By TAN OOIROON THE two killers of the young Bulgarian woman, whose body was dumped into a canal in January this year, were sentenced to death yesterday. The two men had sealed their fate when they confessed voluntarily to their involvement inCHKAVSENC KIM - 433 words
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Page 1 Advertisements
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Advertisement75 1998-08-15 1 S I N G A P O R E TURNS 33 Amazing Technicolour Bash From participants on the field to spectators in the gallery, the National Day Parade was awash in electric rainbow hues. pace s L I Q l O K LICENCE REVIEW Foam Party Organiser Pays Bond Sunset75 words
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PRIME NEWS
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565 1998-08-15 2 A HANDBOOK in nationbuilding. a primer in politics and a guide to the art of leading a people. These are among the descriptions made by world leaders of the two-volume memoirs by Senior Minister Lee Kuan Yew, which will be published next month. Former Japanese premier565 words
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Article, Illustration497 1998-08-15 2 DOMINIC NATHAN - Two highway-size tunnels will criss-cross the island, 50m below' ground, says the ENV minister Bjl J DOMINIC NATHAN IN THE largest single boost to the sagging economy, the Government announced last Saturday that it will go ahead with a massive sewerage infrastructure project whichSource. MINISTRY OF ENVIRONMENT; TIK\ CHI NC PING - 497 words
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436 1998-08-15 2 JASON LEOW - JASON LEOW THE number of first-time HDB fiat buyers applying for grants to buy resale fiats has tripled and another S6OO million more is needed to cover the grants. National Development Minister Lim Hng Kiang said on Mondav He said the Housing Board has436 words
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729 1998-08-15 3 PRIME Minister Goh Chok Tong told Singaporeans last Saturday that the Government might chalk up another Budget deficit next year in its effort to counter the regional economic crisis, but pledged that he would not allow the national reserves to be frittered away.729 words
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450 1998-08-15 3 AHMAD OSMAN - NTUC’s chief says that the average built-in wage increase is down to 2.3 per cent. Twenty five firms have frozen wages Bn AHMAD OSMAN TRADE unions have accepted smaller wage increases, wage freezes and pay cuts to save jobs in unionised companies450 words
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Article, Illustration423 1998-08-15 3 ALISON DE SOUZA - By ALISON DE SOUZA IF THE Keerthi family had not decided to become Singapore citizens last December, their son, Gaurav, would not have had to begin his national service in January. But they did, and now he is one of this year’s 10 Singapore ArmedL.U KOOK KOVC - 423 words
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HOME
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Article, Illustration485 1998-08-15 4 EVELYN YAP - A task force is being set up to plan year-long activities to usher in vear 2000 and attract tourists J *L EVELYN YAP A GOVERNM ENT-led committee is being set up to make Singapore the Asian destination for the year 2000.485 words
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Article202 1998-08-15 4 FORMER futures trader Nick Leeson. 31, has applied for an early release from jail, the British High Commission said on Wednesday. Its head of chancery, Mr Martin Rickert. said the appeal was made on grounds of ill health and was submitted on Tuesday. Leeson’s lawyer202 words
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425 1998-08-15 4 TAN 001 BOON - By TAN 001 BOON A COUPLE who were angered by a spate of nuisance calls “arrested" the woman they thought responsible. They handcuffed her. forced her into a car and forced her to sign a confession. For doing this, marketing executive Kuai Cheng Yan.425 words
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Article, Illustration565 1998-08-15 5 KOH BOON PIN - Bursts of colours fused with exuberant energy, as 55,000 people gathered to celebrate the nation’s birthday on Sunday «2. KOH BOON PIN AMAZING technicolours. Singapore’s 33rd birthday bash at the National Stadium on Sunday evening certainly had lots of it. From the participants on the field toGEORGE GASCON; STEPHANIE YEOW; CEOKCI (. km < >\ - 565 words
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Article, Illustration389 1998-08-15 7 DOMINIC NATHAN - The Southern Islands will still be a marine nature area despite the temporary detention centre on St John’s Island DOMINIC NATHAN THE status of Singapore’s southern islands as a Marine Nature Area will not be affected bv plans to put up a temporary detentionazizhussin - 389 words
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Article322 1998-08-15 7 A CHINESE physician was jailed for a total of six months and fined $5OO after he admitted selling poisons, practising medicine illegally and operating a clinic without a licence. Ng Hock Kheng, 44. pleaded guilty last Friday to three charges, of selling poison, an offence under the322 words
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1998 LEE KUAN YEW SCHOLARSHIP RECIPIENTS
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Article, Illustration749 1998-08-15 8 GIWIFTFO - This years Lee Kuan Yew scfu tlarsli if) recipients impress with their varied interests outside work from singing to netball. Reports htj GIWIFTFO AT WORK. Dr Chong Tsung Wen attends to patients suffering from kidney stones, enlarged prostates, and incontinence. At play,I.IM SIN THAI - 749 words
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Page 4 Advertisements
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Advertisement207 1998-08-15 4 GAIN A STRATEGIC UNDERSTANDING OF THE ASIA PACIFIC REGION The Master of Arts in Asia Pacific Studies taught in Singapore, made available to the region via internet... The only course of its kind in Singapore, the MA in Asia Pacific Studies is an internationally recognised Master's level programme from one207 words
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Page 6 Advertisements
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Advertisement613 1998-08-15 6 PRE-MEDISAVE TOP-UP SCHEME Receive up to Co-pay just $20! The Government will boost the Medisave Accounts of eligible Singaporeans in January 1999 under the final Pre-Medisave Top-Up Scheme. Who Qualifies The Scheme is to recognise the valuable contributions and services rendered to the nation by those Singapore Citizens who were613 words
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Page 7 Advertisements
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Advertisement183 1998-08-15 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 ST183 words
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Page 8 Miscellaneous
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Miscellaneous1061 1998-08-15 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 Tne Written Word1,061 words
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SPORTS
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Article, Illustration320 1998-08-15 9 CHANTSE CHUEEN - SWIMMING Bu CHANTSE CHUEEN SWIMMER Joscelin Yeo missed qualifying for the Asian Games at a specially-arranged time trial at the Chinese Swimming Club on Tuesday night. She clocked one minute 4.45 seconds in the 100 metres butterfly. The qualifying mark was 1:03.68. But the 19-year-old, whoJERKY SKII - 320 words
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Article624 1998-08-15 9 PETER SIOW - That is how much clubs can save each month from the salary cuts S-LEAGUE SOCCER Oil PETER SIOW TWO hundred and twenty thousand. That is the amount the 11 S-League clubs stand to save a month following the call to the rank-and-file to take a 20 per cent624 words
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289 1998-08-15 9 THE S-LEAGUE is prepared to rewrite the tournament rules requiring clubs to employ at least three overseas players, if its legion of foreigners do not agree to a pay cut of 20 per cent starting this month. This is in response to Geylang United289 words
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365 1998-08-15 9 S. MURALI - COMMONWEALTH GAMES *L S. MURALI WITH a month to go, ticket sales for the 16th Commonwealth Games in Kuala Lumpur have reached 50 per cent of the 600,000 target. And Ticket Express, which is the sole ticketing agent for the Games, expects to365 words
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MALAYSIA
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Article, Illustration104 1998-08-15 10 Bernama, AFP KUALA LUMPUR About 100 members of a minor political party, the Indian Progressive Front, demonstrated outside the Singapore High Commission here last Friday over the Tanjong Pagar issue. In a protest note, the party said that it was against Singapore’s “move to evict" Malaysia'sBernama,; AFP; \KP - 104 words
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419 1998-08-15 10 Move may be necessarv if Singapore-Malavsia relations worsen, savs Mahathir. But J situation is not at a serious stage PENANG Datuk Seri Dr Mahathir Mohamad said on Tuesday that Malaysia did not rule out the possibility of reviewing bilateral ties with Singapore419 words
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504 1998-08-15 10 BRENDAN PEREIRA - BRENDAN PEREIRA IN KUALA LUMPUR AFTER nearly 12 months of being the target of what it calls negative press reports, Malaysia is trying to improve perceptions of how it handles the economy. The newly-formed communications team of the National Economic Action Council (NEAC) has been504 words
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334 1998-08-15 10 KUALA LUMPUR Malaysian police have arrested a third person suspected of spreading rumours of street riots in Kuala Lumpur over the Internet. The suspect, believed to be a bank employee in his 30s, was detained under the powerful Internal Security Act (ISA) which334 words
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155 1998-08-15 10 Bernama KUALA TERENGGANU The Johor government is bound by its water supply deals with Singapore, Mentri Besar Datuk Abdul Ghani Othman said on Wednesday. "We honour the agreement that has been signed by both parties," he told reporters after a visit to theBernama - 155 words
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SOUTH-EAST ASIA
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379 1998-08-15 11 The Indonesian government has launched a programme to help entrepreneurs whose businesses were affected by the May riots Reuters SOLO Indonesia’s Finance Minister and its Armed Forces (Abri) chief handed out cheques last Saturday in a symbolic start to a reconstruction programme for businesses hit byReuters - 379 words
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Article, Illustration41 1998-08-15 11 FLYING THE FLAGS: Flag s of Asean countries were hoisted during a ceremony in Jakarta last Friday to celebrate the regional grouping’s 31st anniversary. Among the guests were Asean Secretary-General Rodolfo Severino and ambassadors from member countries. U'PU'P - 41 words
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295 1998-08-15 11 AFP JAKARTA Lt-General Prabowo Subianto, a son-in-law of ex-President Suharto being investigated for the abduction and torture of activists, has admitted misinterpreting orders. "Prabowo has also admitted that there was a mistake and he would take responsibility for it,” army chief General Subagyo Hadisiswoyo said– AFP - 295 words
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Article, Illustration308 1998-08-15 11 IGNATIUS STEPHEN - IGNATIUS STEPHEN IN BANDAR SERI BEGAWAN SULTAN Hassanal Bolkiah on Monday proclaimed his eldest son, Prince Al-Muhtadee Billah, as Brunei’s Crowm Prince in a tradition-steeped royal ceremony. The 24-year-old Oxford-ed-ucated Prince, the third child of Sultan Hassanal and his first wife, will eventually become theUP - 308 words
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230 1998-08-15 11 -AFP JAKARTA An Indonesian military tribunal on Wednesday jailed two junior police officers for violating military orders during a crackdowm on a peaceful protest here on May 12 that left four students dead. The tribunal, which opened on June 6, sentenced First Lieutenant Agus-AFP - 230 words
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COMMENTARY
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Article601 1998-08-15 12 MONDAY August 10,1998 Newspapers seldom get a good press, even at the best of times. They are maligned by newsmakers and readers alike. That has been the case for as long as there have been newspapers: It is understandable, and not entirely unwelcome because, love them or601 words
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Article607 1998-08-15 12 SATURDAY August 8,1998 RARELY has Singapore celebrated a birthday in the kind of gloom that has descended on it via the region. Even the recession in the last decade pales in comparison. Tough though times were then, the solution was in Singapore's control, because the problem was607 words
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Article, Illustration959 1998-08-15 12 808 NC - UIL 808 NC PRESIDENT B.J. Habibie of Indonesia was not wrong when he described Singapore as a “red dot" on the map. As an island-state with a total land area of a mere 647 sq km, no one can dispute it is959 words
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Article, Illustration1033 1998-08-15 13 DOMINIC NATHAN - MY VIEW By DOMINIC NATHAN TWO National Days ago, Prime Minister Goh Chok Tong unveiled the Punggol 21 vision of the model town for the next century. With the release of the Punggol 21 Development Guide Plan last month, the visionLUDWIG ILIO - 1,033 words
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Article955 1998-08-15 13 TAN SAISIONG - BY THE WAY Btj TAN SAISIONG AT THE National Day Parade on Sunday, Singaporeans from all walks of life came together to celebrate the country’s 33rd anniversary. During the rest of the year, however, these walks of life mostly go their separate ways, so955 words
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INSIGHT
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Article, Illustration1905 1998-08-15 14 Last week, a Ministry of Horne Affairs spokesman accusedthe Malaysian media of not reporting Singapore's statements on the railway issue. Is this truer CHUA LEE HOONG looks at lunc the Malaysian media covered the rail dispute. ‘SINGAPORE must bear responsibility', declared the headlineTIEN CMII NO PING - 1,905 words
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Article1043 1998-08-15 15 ASAD LATIF - THINKING ALOUD ASAD LATIF THIRrY-THREE years into independence, Singapore remains captive to a pernicious myth. That myth is the Chinese-majority city-state's reputation as the rapacious middleman of South-east Asia. The reputation has it also that Singapore is a racial sanctuary for the region's ethnic Chinese1,043 words
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Article, Illustration949 1998-08-15 15 kOll BUCK SONG - THIS WEEK IN POLITICS kOll BUCK SONG IN THE rail row stand-off with Malaysia so far. there are at least three reasons to feel relief for what is past, and resolve for what is yet to come. First, passengers on both sides949 words
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MONEY
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393 1998-08-15 16 HISTORY was made this week. The 30-stock Straits Times Industrials (STI) Index plunged beneath the 1,000 level to its lowest depths in a decade. The STI Index lost 65.16 points, or a hefty 6.3 per cent, within four trading days to finish393 words
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Article71 1998-08-15 16 ST Industrials Index The Straits Timas Industrials Index droppad 63.16 points on tha week to 974.11. DAY CLOSE TURNOVER Monday Tuesday 1007.93 (-31.34) 112.301 ($224.154m) Wednesday 995.77 (-12.16) 132.639 ($229.768m) Thursday 965.74 (-30.03) 132.042 (S271.477m) Friday 974.11 0.37) 111.312 ($264.417m) BT-MGA Index Tha BT-MGA Indax droppad 31.6471 words
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Article1866 1998-08-15 16 Company Dote •on Net earn TV LV <$m) ($m) EPS TV LV (eta) (cts) AsiePac Brew Jun 12 1 37.235 ***** 14.7 19.5 Aieiandra Hldq Jun 30 P 9.575L 3948 32L 13.1 Aseen Fd USS Jul 20 1 29.173L 5.291 194L 35.0 AseanSup USS Jul 21 P 38.968L1,866 words
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Article147 1998-08-15 16 RIGHTS ISSUE ExBooks ACC t Company Ratio date close Paymt Pan M’slan one-forone ORMO.SO Jut 31 Aug 7 NA BONUS ISSUE ExBooks Company Ratio date close IDT One-forone Aug 17 Aug 24 NA Metalock Twoforone Aug 25 Sep 1 NA OTHERS ExBooks Acc 6 Company Ratio date close147 words
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Article28 1998-08-15 16 Company Right» itaua AiiaMatris tan right» (tach wrt shares with carrying Rtt to &ub) 3 warrant» tor ovary ton »*i»tIng »hart! Company Bonus l»«ue IOT ana-lor-two28 words
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Article152 1998-08-15 16 Company Place Date Tim* Inform*tics A Informatics BlOg S International Butinas* Park S'por* (*****4) Aug 2S 8 O Thekral A Westin Stamford Mercury Room Laval 4 Westm Convention Centra (17B882) Aug 24 11.00am II c St Banol Rd Liang Huat Ind Complx S'por *(*****8) Aug 18 3.00pm HtJSun152 words
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Article718 1998-08-15 16 Payment (eta) Ex data i! Pay data Alf xandre 50c P 1.5 Sap 9 Sap 16 Oct 6 Avlmo 20c 1 3.25TE Jul 21 Jul 28 Aug 13 Australend A 50c 1 5 Aug 31 Sap 7 SaplB Brilliant Sc b 0.8 Sap 23 Sap 30 Oct 13718 words
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Article559 1998-08-15 17 TAMMY TAN - Group prepared to return cash to shareholders but rules out capital restructuring exercise like SPH’s By TAMMY TAN SINGAPORE Telecom plans to conduct a share huv-back exercise within the next seven months but says it will be different from the capital reduction exercise announced by Singapore559 words
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Article144 1998-08-15 17 COUNTER RATES Buying OD Selling Singapore dollars to ona unit o! foraign currency US dollar 1.7298 1.7613 Starling pound 2.7847 2.8719 Australian dollar 1.0170 1.0572 Canadian dollar 1.1315 1.1648 NZ dollar 0.8594 0.8956 EC unit 1.9535 Singapore dollars to 100 units of foreign currency Austrian schilling 13.5233 14.2216 Belgian144 words
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Article110 1998-08-15 17 Contract date: August 14, 1998 Unit On* mth 3 mth* 6 mths 9 mth* 12 mth* Call Value dat* us$ 5 57. 5/. 5/. 57. 47» 18/8 A$ 47. 47, 4V, 47» 47. 37. 18/8 NZ 57. 6/, 6V. 67, 67. 57, 18/8 STC.... .7/. 77. 77.110 words
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Article, Illustration598 1998-08-15 17 7 JEAN C’HIA - M 7 JEAN C’HIA IN ONE of the first capital reduction exercises by a locally listed company. Singapore Press Holdings (SPH) is proposing to give $1.22 per share to its shareholders in return for 10 per cent of their holdings. Thus a shareholderI I.AVHF ZAOBAO - 598 words
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Article868 1998-08-15 17 Managers' prices: August 15,1998 Aberdeen Asset Mqt Asia Ltd Abardacn Spore Or Fund 0.640-0.673" Abardaan Salact Portfolio (at H AV) Contintntal Europ* Equity Fd 0.950** 0.945** 0.743** 6.479** 0.619** Philippine Equity Fund Slnqapora Equity Fund 0.581" 0.619” AIB Covott (Asia) Ltd Govett Asia Pacific Growth Fd 0.681-0.716® Govett868 words
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Article3989 1998-08-15 18 Transaction date: August 14,1998 1 INDUSTRIAL t COMMERCIAL 1998 High Low Company Curr Last Traded Sale ♦orVol Day ‘000 H>gh Low Gr*s Nat M Cap Dlv P/E $mll Wt Avg Pflct 43 11.5 ACC Dynamics20c 12 -2 82 12.5 11.5 0.1 15.0 9.8 14 31 19.5 ASACeramic20c..3,989 words
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Article750 1998-08-15 18 1998 High Low Company Curr Last Tradad Sala ♦Of Vol 000 Day Hlqh Low Cr't Dlv Not P/C M Cap $mll Wt Avq Prlca 134 50 a ABPHidgsSc 78.5 •0.5 2 78.5 78.5 383 79 243 42 o AS Auto 10c 44 5 ♦1.5 127 46 43 15.ON 4.2750 words
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Article1516 1998-08-15 19 BONDS, LOANS WARRANTS Transaction date: August 14,***** <996 Last Vol Day Last Quota Wt Avg M»gh Low Company Sale Of 000 High Low Buyer Sailor Price 23.5 8 m m AMDS C5.5H*****6 8.5 ♦0.5 5 8.5 8 8 5 9 20 5 3 ♦Acer W*****1 USS 4 3 6.5 951,516 words
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Article1464 1998-08-15 19 Transaction date: August 14,1998 199« High Low Company Curr Lait Traded Sale Vol ♦•r* 000 Oay High Low Gross dlv Net R/C M Cap $mll MALAYSIAN STOCKS (in S$) 135 28 m AISB50C 29.5 ♦0.5 67 29.5 29 5.0 12.4 30.3 65.5 10 m t AMDS 50c 10.51,464 words
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644 1998-08-15 20 JEAN CHI A - MAS has accepted most of the 46 recommendations of the SES review panel, a part of the finance sector revamp By JEAN CHI A COME January, stock market investors will pay 5 per cent less >n broking fees as part of a move644 words
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Article, Illustration684 1998-08-15 20 JEAN CHIA - B'l J JEAN CHIA THE Stock Exchange of Singapore (SES) is opening its planned online trading system to include stockbrokers and local firms Vickers Balias and Lim Tan Securities were quick off the mark last Friday, announcing that they plan to launch an Internet tradingKOO HWEI WEN - 684 words
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Page 21 Advertisements
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Advertisement981 1998-08-15 21 v\>'?« I The Straits Times Weekly Edition «TABS' Pacific A DIVISION Of THt AMERICAN BUREAU Of SHIPPING American Bureau of Shipping, a leading international ship classification society, seeks suitable candidates for positions in its Technical Department in Singapore. o STRUCTURAL ENGINEERS o Job duties: To review/appraise design documents of drilling981 words
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Page 22 Advertisements
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Advertisement1077 1998-08-15 22 Steer your career forward with The mission of the Ministry is to ensure a sound legal infrastructure as a foundation of our social and economic progress and to optimise the allocation of our land resource to support economic growth. The Ministry’s main programme comprises Law Reform. Dispute Resolutions, Intellectual Property1,077 words
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FORUM
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Article, Illustration206 1998-08-15 23 I REFER to the report, “Physician without licence jailed” (ST, Aug 10). I would like to commend the officers of the Ministry of Health for bringing to justice a man who was “playing doctor" in an HDB flat, which made it “harder to detectLI’DWIC 11.10 - 206 words
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Article476 1998-08-15 23 I REFER to the letter “Give the elderly a welfare fund” by Mr Jitendra Sharma (ST, Aug 1). In his letter, Mr Jitendra suggested that the Government set up a welfare system, including a fund, for the elderly. In all civilisations and cultures, the family476 words
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Article217 1998-08-15 23 TO COUNTER the current economic crisis and the unemployment problem, the Government has called on its citizens repeatedly to “train and retrain" to remain economically relevant. Besides reducing unemployment, let us not forget that those who are fortunate enough to keep their jobs should strive to217 words
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521 1998-08-15 23 IT IS DEFINITELY NOT OUR INTENTION TO MERELY USE HIGH CHARGES TO EASE TRAFFIC CONGESTION. IF THAT WERE SO, THEN SIMPLY INCREASING THE COST OF THE AREA LICENSING SCHEME LICENCES WOULD HAVE SUFFICED. I REFER to Mr Denis Distant’s letter “Puzzled by CBD charges”521 words
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Article, Illustration271 1998-08-15 23 I AM disappointed to learn that the marathon for this year has been changed to a half-marathon due to lack of funds from sponsors. I ran my first marathon last year and the experience was tremendously enriching and rewarding. It was a personal breakthrough271 words
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Article693 1998-08-15 24 TAN LI ENG - Move allowing wider use of Singapore-dollar does not mean the internationalising of the currency, says MAS «I, TAN LI ENG THE Government on Thursday announced moves to allow wider use of the Singapore dollar for business transactions but stressed it would stick by its693 words
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Article, Illustration166 1998-08-15 24 TAN HUIYEE - Hul TAN HUIYEE THE Sunset Bay Beach Club at Sentosa, where underaged patrons were found drinking, has been ordered to post a $3,000 bond for the period of its liquor licence. The pub was told on Wednesday that it would lose that money166 words
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499 1998-08-15 24 WALTER FERNANDEZ - Hu By WALTER FERNANDEZ DESPITE the effects of the current economic crisis, Singapore is still the world’s secondmost profitable place to invest in, says the latest Business Environment Risk Intelligence (Beri) report. However, it w’ould be a less attractive place to invest in next499 words