The Straits Times : Weekly Overseas Edition, 24 October 1998

Total Pages: 23
1 24 The Straits Times : Weekly Overseas Edition
  • 21 1 The Straits Times Weekly Edition Saturday October 24, 1998 Price: S$ 1.20 (in Singapore) Elsewhere by subscription only MITA (P) 080/08/98
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  • 599 1  -  EDB says Caltex’s decision to transfer its corporate leadership to Singapore marks an epoch in the annals of the country’s headquarters history By 1 RAVI VELLOOR IN A move described as epochal in Singapore’s drive to be Asia’s business hub, Texan oil major Caltex
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  • 284 1 TOP Asean students have bonded so well here under the Singapore International Foundation’s visiting student fellowship that they have decided to form a network to keep in touch and help each other in community projects. The 46 university students, including eight Singaporeans, in the 18-week
    SAMVELCHUA  -  284 words
  • Page 1 Advertisements
    • 68 1 Fighting paralysis Another mountain to scale Mr David Lim, captain of Singapore’s first Mount Everest expedition, is clawing his way back to health after being struck by a crippling disease in June, page 4 Sports S'pore aims for World Cup finals There is no reason why Singapore cannot make it
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    • 1 1 *****V*****6
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  • PRIME NEWS
    • 815 2  -  Malaysia changes assessment system and proposes a slew of expansionary measures By DOUGLAS WONG IN KUALA LUMPUR MALAYSIAN Prime Minister Mahathir Mohamad an- nounced yesterday a surprise w’aiver on income tax for 1999 as part of an expansionary budget designed to spur economic
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    • 533 2  -  Bij GEOFFREY PEREIRA A JEHOVAH’S Witness who took his employer to court for wrongful dismissal after he was sacked for refusing to recite the Pledge and sing the National Anthem has lost his case. The High Court rejected Mr Peter Williams Nappalli’s claim that the
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    • 129 2 THE Straits Times Weekly Edition’s promotion, which ended on Wednesday, received an overwhelming response of 1,022 subscriptions. In a lucky draw conducted yesterday, three subscribers Mr Philip Phay, Ms Ng Puay Hwa and Ms Esther Seto won airline tickets to London, the United States
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    • 708 3  -  The proposals by an inter-agency panel include mandatory energy audits and new incentives to tap waste heat §IL DOMINIC NATHAN ENERGY use around the island from the supply end at power plants to consumers at home or in industry is in for a
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    • 218 3 COMMUTERS travelling on the North-East MRT Line will not only be able to know what the next destination is, but also track stock market movements, news headlines, weather forecast, flight information, and even watch movies on sue display screens in each carriage. Wider seats, more grab poles
      CEORCE CASCON  -  218 words
    • 372 3  -  Bu LIM SENG JIN A TEENAGER lied to police that she had been raped and molested repeatedly by her half-brother because she wanted to stop her mother from marrying him. But her 56-year-old mother married the 25-year-old man anyway. Hazadilla Abdullah, then 19,
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  • HOME
    • 1130 4 Since being struck down by the crippling GuiUain-Barre Syndrome in June, David Lim, who captained Singapore's first Mount Everest team to success, has slowly clawed his way back to health. He tells KOH BOOH PK how. WOBBLY wombats wander west. A line which
      Mt'HAMMADSHAH  -  1,130 words
    • 463 4  -  By CHIN SOO FANG and ZUZAMTA ZAKARIA INDONESIA’S move to suspend processing applications for maids headed for Singapore could be a blessing in disguise for agencies here, which are facing an over-supply. Agents said employers would have fewer maids to choose from, but otherwise,
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    • 719 5  -  They dress, fight and commit crimes like male thugs these are the girl gangsters of today Bi/i SHARON VASOO GIRL gangs are making a comeback, with an attitude and aggression that bear an unsettling resemblance to boy gangs. They dress like the boys,
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    • 509 5  -  KARAMJIT KALR l\ BATA VI MORE than 140,000 poor families in the Riau province will receive about 25 kg of rice each, as part of Singapore’s humanitarian aid to Indonesia. In all, 4,000 tonnes of rice and about 70 boxes of medical
      \7lZlll SM\  -  509 words
    • 347 5  -  Ĕ1 ALISON DE SOL ZA START-UP companies in the manufacturing sector will enjoy rent cuts from the Jurong Town Corporation (JTC) worth about Sll million over the next three years. The New Business Creation Initiative will start next month. Brigadier-General (NS) George Yeo, the
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    • 568 6  -  Doctors view this condition seriously as it affects 80 per cent of people in Singapore and can lead to blinding eye diseases K,j ALLISON LIM WITH up to 80 per cent of Singaporeans living with myopia, or short-sightedness, Singapore could be sitting on a
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    • 127 6 IT IS a case of tikam tikam at the moment. But scientists looking for the genes for short-sightedness want to be more thorough. So, they are looking for 250 families in which at least two people are very shortsighted. They want to hav e the family
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  • Page 6 Miscellaneous
    • 1061 6 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
    • 614 7  -  Minister Mah Bow Tan says he sees no reason why Singapore cannot make it to the finals SOCCER Bjl PETER SIOW THERE is no reason why Singapore cannot make it to the finals of the 2010 World Cup. So said the Football Association
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    • 571 7  -  HEINEKEN OPEN SINGAPORE TENNIS Bu THOMAS KOH MARCELO RIOS became the first top seed to win the Heineken Open Singapore title on Sunday before a sell-out crowd of 6,500 fans which included Prime Minister Goh Chok Tong at the Singapore Indoor Stadium. The world No.
      MUHAMMAD SHAH  -  571 words

  • MALAYSIA
    • 358 8 Bernama TOKYO Describing some of the actions taken by Singapore as unfriendly, Malaysian Prime Minister Mahathir Mohamad said last Saturday it would now be difficult for Malaysia to be friendly with its neighbour again. He said Singapore had taken a series of actions
      Bernama  -  358 words
    • 477 8  -  Police charge 128 who were arrested in last Saturday’s protest. All except one claim trial BRENDAN PEREIRA IN KUALA LUMPUR MORE than 120 people, including 15 women, were charged in the sessions court on Wednesday with taking part in an unlawful assembly in the heart
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    • 480 8  -  By BRENDAN PEREIRA IN KI’ALA LUMPUR MALAYSIA considers statements made by the presidents of Indonesia and the Philippines over Anwar Ibrahim’s detention as interference in its domestic affairs, said Foreign Minister Abdullah Badawi. He contacted his Indonesian and Philippine counterparts to register this
      THE sirs  -  480 words
    • 302 8 AFP KUALA LUMPUR An Aids activist group led by an outspoken daughter of Malaysian Prime Minister Datuk Seri Dr Mahathir Mohamad on Thursday condemned the creation of an anti-gay movement as a dangerous act of hatred and intolerance. The Malaysian Aids Council, whose president is
      AFP  -  302 words

  • SOUTH-EAST ASIA
    • 278 9 AFP JAKARTA Angry mobs, targeting those they believed to be behind the mysterious killings of suspected practitioners of black magic, have killed eight people in the Indonesian province of East Java. Three victims were beheaded and one was burned to death, said news
      AFP; REUTERS  -  278 words
    • 465 9  -  Anti-crime groups believe the kidnaps are calculated to hurt the President’s credibility By NIRMAL GHOSH PHILIPPINES CORRESPONDENT MANILA Anti-crime groups here believe that the spate of kidnaps since July could be due to a political conspiracy to destroy President Joseph Estrada’s credibility.
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    • 342 9  -  By EDWARD TANG THAILAND CORRESPONDENT BANGKOK In his first move to wipe out corruption and instill discipline in the military, Thailand’s new army chief, General Surayud Chulanond, has ordered a crackdown on soldiers moonlighting in Bangkok’s night entertainment areas. Twice in recent days,
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    • 210 9 Reuters BANGKOK Concern is growing in Thailand that a herbal root believed to be effective in boosting breast size may fall into foreign hands. Dr Wichai Cherdshewasart, an associate professor in plant biotechnology at the Chulalongkorn University, said the pueraria mirifica root had
      Reuters  -  210 words

  • COMMENTARY
    • 585 10 FRIDAY October 23.1998 Relations among some Asean countries have hit a rough patch, so is it time to batten the hatches, slap on war paint and start a tit-for-tat offensive? No, this just cannot do. This sort of tactic is not only unproductive, but it is also wrong
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    • 601 10 TUESDAY October 20.1998 THERE was a time, and not very long ago, when employers and employees had very realistic expectations of each other. If a worker forgot that relationship and made demands which his boss considered unreasonable, the employer would take him to the window and point to
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    • 712 10  -  al 808 NG ON THIS one matter, I do not understand my fellow countrymen at all. They seem prepared to suffer indignity upon indignity merely to save a few bucks. I am referring to the hundreds of people who travel across the Causeway
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    • 999 11  -  BY THE WAY By TAN SAISIONG TELL me, how much does a person in Singapore need to retire comfortably? One benchmark is the minimum sum, set by the Government to rise to $BO,OOO by July 2003, when the official retirement age
      MIEL  -  999 words
    • 1019 11  -  MY VIEW By TAN HSUEH YUN HELL knows no fury like a Singaporean property owner scorned. It is understandable: owning a home here is no small commitment financially, and who can blame a homeowner for being overly protective of his property? So if he is rebuffed
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  • A CORPORATC NEWSLETTER OF THE CPF BOARD CPFN Newsline
    • 235 12 / 13 CPF PhoneLine Yo ur Friendly Call Centre You need to remember only one telephone number the CPF PhoneLine 1800-227 1188. This easy to remember one-stop number has replaced more than 12 telephone numbers used by the Board before June 1996 for different CPF schemes. The CPF PhoneLine was launched in
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    • 253 12 / 13 CPF Investment Scheme The CPF Board has recently approved 24 fund management companies (FMCs) under the CPF Investment Scheme (CPFIS). This is in line with the revised rules governing unit trust investment announced in May by the Minister for Manpower, Dr Lee Boon Yang. The
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    • 215 12 / 13 CPF Investment Scheme Exercise prudence and sound judgement when investing your CPF savings to meet your old age needs. This is the advice that CPF Board is giving RISK CLASSIFICATION SYSTEM to CPF members. It is also urging members to look at the risk classification system
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    • 276 12 / 13 CPF Investment Scheme Come early November, you can withdraw profits made under the CPF Investment Scheme (CPFIS) since 1 October 1997. From 23 October 1998, you will receive the Profit and Loss Statements and Profit Withdrawal Forms for Investment Accounts holders from your agent bank. For
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  • Page 12 / 13 Advertisements
  • Page 12 / 13 Miscellaneous
    • 213 12 / 13 The CPF Investment Scheme allows us the opportunity to enhance our old-age savings through long-term investments. We have a choice of investing our CPF savings if we think we can do better than the CPF interest rate. But like any other investments, there are risks involved. We should exercise prudence
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  • INSIGHT
    • 785 14 Singapore has lost its cost competitiveness. But why has it happened so suddenly? What areas has the country lost its edge in and buhow much? Is cutting wages the way to go? CHUA MU HOON€ gets a snapshot from economists and industry experts. MALAYSIAN officials are
      Source CORPORATE RESOURCES CROUP; Craphici by JALEHA HASHIM  -  785 words
    • 309 14 LAND AND RENTALS MR DENNIS Yeo is an agitated man. Ihe Colliers Jardine director (industrial) thinks that those asking for cuts in industrial land rates are barking up the wrong tree. Consider: The cost of premises rent and land costs for an industrial
      Sower JONES LAM WOOTTON  -  309 words
    • 414 14 Down in S-E Asia up in S'pore WADES WAGES in the rest of South-east Asia are lower today than in 1992 as a result of the currency crisis, which wiped out all gains from pay increases in the last five years. But the salaries of Singapore workers, professionals and managers
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    • 180 14 EXPORTS SINGAPORE exports are losing market share in the world to countries like the Philippines, and those in Latin America and Eastern Europe. Kim Eng Securities figures show that Singapore exports as a share of global total imports fell from 2.5 per cent in 1994 to
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    • 1028 15  - It is a mad, mad mad world THINKING ALOUD By ASAD LATIF SINGAPORE should resume agriculture, I said to a colleague the other day. She suggested that I was mad. I reasoned that mad times call for mad solutions. This country’s nearly total dependence on food imports is a source
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    • 1027 15  -  THIS WEEK IN POLITICS By CHUA LEE HOONG AT LAST, some semblance of sanity has returned to the world’s major political stages. In the United States, impeachment idiocy has given way, for the time being at least, to more important matters of state: A long-awaited
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  • MONEY
    • 400 16 THIS was a short trading week, but it was not short on action. The Straits Times Index (STI) tracked events in Japan somewhat, and moved with Tokyo’s Nikkei 225 benchmark index evident from the way it shot up on Wednesday when the Tokyo
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    • 1758 16 Company li Nataarn TY LV (Sm) <$m> CPS TY LV (eta) (eta) Aiia Food Sap 30 1 99.061 24.729 3.41 2.50 Am Caramic Sap 14 1 3.752 3.552 2.86 2.84 Aittaoca Tach Sap 21 i 5.6361 5.432L 7L 7L Acma Sap 2S 1 10.357 1011 630 610 Amara
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    • 63 16 Straits Times Index TIm Straits Times Index rose 76.66 points on the week to 976.65. DAY CLOSE TURNOVER Monday PUBLIC HOLIDAY Tuesday 1.108.75(10.85) 526.57(S752.19m) Wednesday 1,140.91(*32.16) 656.63(S677.50m) Thursday 1,117.50<-23.41) 458.95($581.10m) Friday 1,113.59(-3.91) 289.61(5423.78) BT-SRI Index The BT-SRI Index rose 52.77 points on the week to 441.65. DAY
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    • 882 16 Payment (eta) b data Book! data Ray data Aetna SOc 1 2.5 Oct 6 Oct 13 Oct 27 ASA IOC b 1.5TE Sap 22 Sap 29 Oct 13 Ar«b M’llan 50c b 0.5 Oct 1 Oct 8 Oct 23 BMT SS10.00 F 56 Oct 20 Oct 27 Nov
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    • 162 16 RIGHTS ISSUC e«Books Acc 6 Company Ratio data closa Paymt Nora ASA 1 (or 2.204 *US$1.30 Sap 11 Sap 18 NA Pan M'nsn ona-for-ona (PRM0.50 Jul 31 Aug 7 Sap 24 BONUS ISSUC CiBooks Company Ratio data closa Oatacraft ona-for-ona Nov 3 NovIO 00C21 OTHERS ExBooks Acc 6
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    • 22 16 Company MgMt Ihuo CK Tang Two Rtghti Sharp» tor ovary Ono SO JO Sharp hoia.litu# pnco 21.5c Company Bamia lotuo
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    • 140 16 Oatt Tima Spur» Bldg Soc A 391A Orchard ltd Towar A »26-00 Ngee Ann City S port (*****3) Oct 23 11.00am OAF E OAF Ltd 224 Pandan Loop S'port (*****1) Oct 20 ii.OOam ST Capital E Conftrtnct Room 2 79 RoWnjon Rd «30-00 CPC 810« Sport!*****7) Oct 26
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    • 1053 17 UNIT TRUSTS FUNDS October 24,1998 Managers' prices (S$) UNIT TRUSTS Aberdeen Amt Mft Asia Ltd Nifcko Global Assat Mat Aoerdeen 5 pore Gr Fd 0.722 0.759 Nlkko Oriental Growth 0.588 0.618 Aberdeen StAcl Portfol» (at HAY) 1.300 American Opport Fd Continental Euro Eqty Fd 0.899 0.897 Savers Capital Fd 0.590
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    • 184 17 COUNTER RATES {9am, Oct 23) Buying 00 Selling Singapore dollars to one unit of foreign currency Australian dollar 1.0030 1.0240 Canadian dollar 1.0380 1.0600 NZ dollar 0.8480 0.8660 Stirling pound 2.7290 2.7580 US dollar 1.6140 1.6240 Singapore dollars to 100 units of foreign currency Austrian schilling 13.80 14.20 Belgian
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    • 659 17  -  But whether the 15-million-box record can be achieved during these turbulent times, nobody knows, says the PSA chairman By CHAN WEE CHL AN PSA CORPORATION is still on course to hit its target of handling a record 15 million boxes or TEUs as
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    • 155 17 Bloomberg News CHANGI Airport's cargo volume fell 4.5 pier cent in the first eight months this year as exports to Asian countries dropped amid the region's economic turmoil, an airport official said last Saturday. Between January and August, the airport handled 837,000 tonnes of cargo,
      Bloomberg News  -  155 words
    • 179 17 AFX-As i a FRANKFURT Singapore Airlines (SIA) is considering buying a stake of up to 25 pier cent in Taiwan’s China Airlines. SIA deputy chairman and chief executive officer Cheong Choong Kong said in an interview with Handelsblatt newspaper. He was quoted by
      AFX-As i a  -  179 words
    • 3771 18 Transaction date: October 23,***** MULTI INDUSTRY '998 Curr Last High low Company Traded Salt ♦orVOI 000 Oay High Low Cr'i Olv Nat M Cap P/C $mil Wt Avg Price 142 49 5 mt Aema SOe 77.5 •1.5 1246 81 74 27.5 5.5 128.2 77 65.5 38 t
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    • 882 19 1998 High Low Curr Lilt Compiny Traded Silo ♦OfVoi 000 Day High Low Gr's Dlv<K> Net P/E M Cap $mii Wt Avg Price MANUFACTURING 243 30 e AS Auto 10c 8i -1 2039 83.5 77.5 15.ON 7.6 92.5 8J 82 45 ASJ Hldgs 20c 5' 2.5 9.8 45.9 49
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    • 1167 19 BOMS, LOANS WARRANTS Transaction date: October 23,1998 1998 High Low Compony List Salt ♦or* Vol '000 Oay High Low Laat Ouota Buyor Sailor Wt Avg Prteo 20.5 3 *ActrW*****KIS$.._. 9.5 •1 45 9.5 8 9 9.5 95 4.5 Acmo W*****4 17 uneh 741 18 15.5 17 17.5 16 AIIToch W*****7
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    • 168 19 Transaction date: October 23,***** 1998 High Low Compony Curr Lost Traded Salt Vol ♦Of 000 Day High Law Gross div% Nat P/E M Cap $mil HONGKONG STOCKS 400 250 COL (2000) MK400 8.0 20.5 ***** Cothoy P»c 20c NK720 2650 6.0 *****4 ChoungKonqSOc HK’780 240.0 3.0 *****5 mkt»'50c40C
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    • 574 20  -  And on a three-month moving average basis, the non-oil domestic exports manage only half of August’s growth «r/ Bi, NARENDRA AGGARWAL SINGAPORE'S key non-oil domestic exports rose a marginal I. per cent last month from a year ago, but total trade dropped during
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    • 453 20  -  ĔIL COLIN TAN WITH the Big Four local banks staying on the sidelines of the housing loan market for now, insurance co-operative NTUC Income is taking up the slack by marketing aggressively cheap loans at showflats around town. Income is charging 6.75 per cent
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    • 304 20  -  bil YEOW PEI LIN HDB flat-ow-ners with unsubsidised housing loans will enjoy another half-percentage point cut in their mortgage rates over the next two months. This follows the HDB’s move to reduce its market interest rates which are pegged to Credit POSB’s by
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    • 289 20  -  By TAN LI ENG SINGAPOREANS will be able to use their Nets Cash Cards overseas in about two years, thanks to a tie-up with credit card issuer Visa International. The new-generation cash cards, to be issued by Visa through banks, will allow users
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  • Page 21 Advertisements
    • 1102 21 wwzsra&si The Straits Times Weekly Edition ORCHARD PARADE HOLDINGS LIMITED INTERNAL AUDIT MANAGER Orchard Parade Holdings Limited is a public-listed company with diversified portfolio in hotels, service apartments, property development and investment. The person we are looking for should: Possess a Degree in Accountancy or relevant professional qualification (with ICPAS
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  • Page 22 Advertisements
    • 1127 22 c L/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. PUBLIC RELATIONS OFFICER Your
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  • FORUM
    • 794 23 I REFER to your editorial “Progress with a human face” (ST, Oct 15) supporting the new power of the Government to force home-owners to sell their HDB units in an upgrading scheme. You suggest that, since the majority will benefit, the minority must give way.
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    • 311 23 IN THE article “Don’t forget seconds” (ST, Oct 10), one cannot escape the truism that attaining only second place is much less glorious than the top spot. The writer gave the example of man’s first landing on the moon by Neil Armstrong and Edwin E. “Buzz”
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    • 198 23 I REFER to the reports “Estrada applauds Filipinos overseas” (ST, Oct 12) and “Jakarta imposes 3-month ban on recruiting maids” (ST, Oct 12). President Joseph Estrada is to be commended for giving public recognition to the contributions of his fellow citizens working abroad. His expression of his
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    • 486 23 I REFER to Mr Tan Yong Keng’s letter “Lift hiring restrictions on foreign workers” (ST, Oct 12). We wish to clarify the misconceptions of the writer over the foreign worker policy for the construction industry. Under the work permit allocation system for the construction
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  • 539 24  -  Association issues guidelines advising finance companies to fix penalty at 5 percentage points above prime rate «It TAN LI ENG FINANCE companies have oieen advised to cap the penalty rates they charge loan defaulters at 5 percentage points above the average prime interest
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  • 254 24 Berxama, AFP KUALA LUMPUR Sugar and condensed milk have />een made controlled items, along with cooking oil and flour, and will not be allowed to be taken out of Malaysia. Domestic Trade and Consumer Affairs Minister Datuk Seri Megat Junid Megat Avob
    Berxama,; AFP  -  254 words
  • 374 24  -  By LEA WEE A NEW voluntary group, which calls itself the Riau-Sin-gapore People Project, made its debut trip to two islands off Bintan over the weekend to offer medical services to the villagers. The group hopes to make regular trips to the Riau islands about
    ALPHOXSO CHAN  -  374 words