The Straits Times : Weekly Overseas Edition, 13 March 1999

Total Pages: 24
1 24 The Straits Times : Weekly Overseas Edition
  • 21 1 The Straits Times Weekly Edition Saturday March 1.1 1999 Price: S$ 1.20 (in Singapore) Elsewhere by subscription only MITA (P) 080/08/98
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  • 567 1  -  This amount means there is no immediate need to draw on past reserves, says Finance Minister >±L i c:hua mu i hoonc; THE current Government has amassed over $6 billion in Budget surplus in its first 15 months in office from January 1.997 to March
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  • 479 1  -  IJIL CHI A CHIN HON CHILE is backing Singapore’s Antarctica quest with a pledge of technical and medical assistance from its air force and army. free accommodation and transportation. This reflects the warm relationship between the two countries, said Chile’s ambassador to Singapore, Mr Carlos
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  • PRIME NEWS
    • 585 2  -  Its $172-million bid, higher than six others, will strengthen the listed property group's stronghold in the north O Bi, KALPANA RASH IWALA CENTREPOINT Properties has come out tops against six others in the bid to develop Singapore's first development that will integrate a
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    • 512 2  -  GERALDINE YEO COMMUTERS can look forward to an expanded rail network. built around a grid in the city centre, with main lines fanning out to housing estates. Orbital lines will join these main lines. Communications Minister Mah Bow Tan said on Thursday at the
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    • 376 2  -  Oil JEAN lIIA THE chairman of listed electronics firm Goldtron. Ong Soon Kiat. wits on Wednesday fined the maximum $250,000 lor rigging the price of his company's shares, with the district judge saying "a substantial fine is needed to serve as a deterrent". "Market rigging is
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    • 277 2  -  Bti_ WENDYTAN ANOTHER Economic Development Board scholar has broken his bond and the board on Monday named him: Adrian Chua Ping Tat, 23. A final-year electrical engineering undergraduate, he is studying at the University of Illinois in the United States. He was among 16
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    • 324 3  -  UIL DOMINIG' NATHAN LITTERING penalties will go up and litterbugs will be both fined and made to clean public areas if a Bill introduced in Parliament on Monday is passed. Now r they are fined up to $2,000 or made to do
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    • 717 3  -  The GPC also suggests going ahead with the trial of open online bidding fk. GEOFFREY PEREIRA MORE certificates of entitlement (COEs) will be available every year if the Government accepts a proposal that it lift the existing 3-per-cent cap on vehicle growth here.
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    • 81 3 THE Government is reviewing the role of and demandfor executive condominiums since their prices have come closer to those of low-end private condos. National Development Minister Lim Hng Kiang said an announcement would be made in September on whether, and how much land would be
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    • 530 3  -  Hu TAN lISUEII YGN SENIOR citizens who are buying the Housing Board’s studio fiats for the elderly will pay 25 per cent less for them, as the board will pass on savings from lower land and tender prices. The 377-sq-ft units will now sell
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  • PARLIAMENT
    • 331 4 Overhaul those that stifle entrepreneurship or dampen competition or have become a burden, says Dr Lee Tsao nan NOMINATED MP Dr Lee Tsao Yuan on Tuesday ealled for a review of regulations that inhibit entrepreneurship and contribute to business costs. Noting that the Budget had
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    • 415 4 MR INDERJIT Singh found it so tough getting his high-tech company off the ground in Singapore, that he almost gave up and took up offers to start companies in Taiwan and the United States. But he stayed and laboured on. In the end, he
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    • 170 4 RESIDENTS have* approached me during my Meet-the-People sessions to ask for assistance in employment opportunities. Veryoften...if the resident is a female, she would ask for a stall, not just any stall, hut a tuckshop stall in a school, because there is a captive
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    • 404 4 SINGAPORE is facing its worst economic crisis ever, and with the Budget in the red to the tune of $5.1 billion, civil servants must make the best use of every dollar allocated to them, urged Mr I.im Swee Say (Tanjong Pagar
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    • 189 4 MR ANG Mong Seng (MP for Bukit Gombak) on Tuesday proposed setting up a department in the Education Ministry to maintain contact with students who go abroad to study and to attract them back to Singapore when they graduate. He said that it was important
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    • 404 5 Minister reads out the line from his letter ‘Whatever you can’t defend, doesn’t belong to you’ DEFENCE Minister Tony Tan on Wednesday wrapped up the debate on his ministry’s budget by reading a letter from a young national servicemen, which he said summed tip
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    • 502 5 SAP SCHOOLS AND MULTI-RACIALISM MORE is being done in Special Assistance Programme (SAP) schools to ensure that the nurturing of cultural elites does not go against the principles of multi-culturalism and multiracialism, said Deputy Prime Minister Lee Hsien Ix>ong. He said the Government was
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  • Page 5 Advertisements
    • 111 5 Catch up with all pr- tv x \\sV^ runes ;\o« Secowj \h%^ —rrsurt»* l §&gs2. <£•" 55t5,555 ’Jr ssgis ‘**sS£ The Straits Times WEEKLY EDITION provides you a crisp summary of every week's major news break reported in The Straits Times about Singapore and Asean. Covering news from local politics,
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  • HOME
    • 469 6 Only one piece not exceeding 115 cm in total dimensions and 7 kg in weight will be allowed TRAVELLERS departing from Changi Airport will find it harder to bring excessive hand baggage on board in a few months, when airlines impose tighter controls. Under the stricter
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    • 298 6  -  CYCLISTS, IN-LINE SKATERS AND PEDESTRIANS JOSTLE FOR SPACE Bt/ By SAMANTHA SANTA MARIA THE latest nasty pile-up in the East Coast did not happen on the expressway, but on tne parallel track in the park, where a cat caused two in-line skaters and
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    • 311 6 THE Juvenile Court receives about 200 complaints every year about children who are beyond parental control. And nine in 10 of the complaints are filed by the parents themselves, usually mothers. A study of 379 of these children aged eight to
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    • 394 6 A SINGAPOREAN student has been elected to the newly set up Youth Advisory Council of the United Nations Environment Programme (Unep). Vinothini Apok, IS, a sec-ond-year Raffles Junior College student, is the youngest of the 12 council members, who must be between is and
      SON I A TAN  -  394 words
    • 579 7  -  Students can run retail outlets on its campus and study arts management from groups there UIL M. NIRMALA STUDY in the day in a vibrant arts hub and do business at night. This is what undergraduates in the city’s first private university could be doing
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    • 926 7  -  'llL I.FONG WENG RAM SOMEWHERE in the home of the late Pan Shou are the ashes of his first love and first wife, Chen Er Fen. Their son, Dr Pan Soo Yeng, has been hunting for the jingtadan or enamel container containing
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    • 405 7  -  MULTI-MILLION-DOLLAR SCAM PIL TAN 001 BOON A SELF-PROCLAIMED "professional” gambler was sentenced last Saturday to an eight-year jail term for his role in helping his wife commit a multi-million-dollar fraud on Overseas Union Bank. Teo Choon Beng, 36, unemployed, was found guilty of
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    • 312 8  -  A new invention promises cheaper long-distance calls with generally crisp, sound quality EDMUND TEE A COMPANY here has invented a computer-less system that will enable the family and friends of an overseas student, for instance, to make long-distance calls for as little as three cents a minute.
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    • 325 8  -  >IIL LESLIE KOII THE latest executive condominiums are strictly for burning. Fully-furnished condos and bungalows, complete with cars and gardens are also available. Taoists burn such funerary paper offerings in the belief that the dead will receive the things they represent. For why
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  • Page 8 Miscellaneous
    • 1063 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
    • 241 9 WOMEN IN SPORT THIRTEEN Singapore women Olympians will be honoured at the two-day Women and Sport Conference at the Anglo-Chinese School (Independent) at Dover Road starting on Monday. The list will be headed by Tang Pui Wah, a hurdler who took part in
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    • 367 9  -  SOCCER By S. MLRALI THERE will be no repeat of the Jorg Steinebrunner transfer wrangle next season. This is because the SD*ague Tournament Committee has decided that the compensation clause tor transfers between S-League clubs will no longer be in place next year. Under
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    • 605 9  -  Yachting wins four of the major annual sports awards but coach Tan Swee Hung misses out SINGPOREN TOP ATHLETES OF 199 H Oil SANTORH SINGH SAILING made a near clean sweep as the Singapore National Olympic Council set a precedence when announcing I.99s’s winners of the
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  • MALAYSIA
    • 458 10 Even if Umno wins enough seats to form a wholly Umno govt, power-sharing ‘will help the country progress peacefully’ KUALA LUMPUR Umno will continue to share power with the other ethnic groups even if it wins enough seats in the general election to form the
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    • 441 10  -  H,, BRENDAN PEREIRA l\ KUALA LUMPUR ANWAR Ibrahim’s former private secretary said that he was stripped naked and forced by police officers to label the former Deputy Prime Minister a sodomite, womaniser and corrupt person. Azmin Ali said the interrogation was part
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    • 62 10 FRUITFUL ENCOUNTER Pretty maidens throwing oranges to their male team mates in sampans. The men were armed with nets to scoop up the fruit during the traditional orange-throwing competition in Penang earlier this week. Penang threw' a singles’ partv to keep alive the tradition of Chap Goh Mali's
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    • 500 10 KUALA LUMPUR Pork consumption in Malaysia hits fallen between 30 and 40 per cent since the outbreak of a deadly virus carried by pigs, prompting the authorities to reassure consumers that the meat is safe. "The pork itself is not the issue or the disease
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  • SOUTH-EAST ASIA
    • 354 11 BANGKOK Two sons of a Thai opposition politician have been sacked from the police force after they were found guilty of having used fake certificates to qualify for their positions, The Nation newspaper reported on Friday. Assistant police directorgeneral Samrit Petra issued an order
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    • 607 11 The former military strongman could spend life in prison if convicted under a 1994 law banning the guerilla group Reuters PHNOM PENH Khmer Rouge military strongman Ta Mok was charged on Tuesday under a law banning the guerilla group responsible for the deaths of
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    • 620 11  -  SUSAN SIM INDONESIA CORRESPONDENT JAKARTA Golkar party chiefs on Wednesday formally accepted a recommendation from its regional cadres to delay committing the party to one presidential candidate, announcing instead a slate of five names led bv President B.J. Habibie. "Each of those five figures
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  • COMMENTARY
    • 586 12 SATURDAY MARCH 13,1999 AMBON is a world away from Jakarta in its political and security detachment. Culturally and historically, this Maluku region of eastern Indonesia became a seedbed for Christian propagation five centuries ago, when Dutch and Portuguese seafarers went looking for cloves and nutmeg. The
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    • 592 12 TUESDAY March 9,1999 POLITICS being the art of the possible, some means will have to be found to safeguard Cambodia's future without insult to past travail. Former Khmer Rouge military chief Ta Mok's trial might make this possible if the demand for justice is set within the
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    • 795 12  -  SECOND UST WORD fh. ALAN JOHN IS THIS the place where you can get stabbed if you stare at a stranger for too long, and neither of you blinks because that means losing face? Right. It helps to explain the outpouring of
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    • 1263 13  -  MY VIEW Hi, Bu WARREN FERNANDEZ IT USED to be mostly English-ed-ucated Singaporeans who rankled at the suggestion that there was a need to foster a new generation of Chinese intellectuals, the so-called “Chinese elite”. But, in an interesting twist, a gathering of
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    • 1047 13  -  BY THE WAY TAN SAI SIONG THIS may sound preposterous especially to the parents whose children were hurt in the incident, but I believe that what happened at Jin Tai Secondary School (ST Overseas Weekly, March 6) as a result of the mock shock-attack
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    • 1301 14 Why was Chinese not made the dominant language in Singapore? Was the PAP Government against Chinese-medium education in the *****? These controversial issues are addressed in a new hook in Chinese hij veteran journalist Goh Nguen Wall. KAO CHEN reports THE Singapore Government’s controversial policy on
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    • 882 14  -  Hu NGIAM TONG DOW JOHN Mavnard Keynes once said that behind even' statesman, there is a defunct philosopher. For those of us who profess to be practitioners of development economics, deep in our psyches is also a philosophy. Mine is derived from Taoism
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  • INSIGHT
    • 1056 15  -  THINKING ALOUD K'l SONNY YAP IF YOU are filled with angst and anxiety over the dawn of the new millennium, you are not alone. Count at least three wise, but worried, men in vour company. Nohel laureate Alexander Solzhenitsyn lamented in an Asian Wall
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    • 971 15  -  LAST WEEK JN POLITICS Hu cm a lei: hoong LAST week has been significant not for what happened, but what did not. F'or a long while now, no week used to pass without mud being slung this way, either from Malaysia, or,
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  • MONEY
    • 357 16  -  DENNIS CHAN THE Singapore stock market received a huge boost this week from Wall Street as the Dow went on a record-breaking spree to chart new heights. Dealers said the bullish sentiment in the US spilled over to the regional markets. This helped local traders
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    • 845 16 Sls5Sg5S5I2cSg2SSSS5l»=S5122SSS5SS335sSSSS52SSSg8Sl333SjS535S2SS2-l5SS2SfsaiSaa8a33SS2SSS?21S3SfiI2S§SSSS JSJ?SiJ?ili3e*gg!2iJ5lSii!SSSs25iSJS35i52aS3S5S2i{8i5S«IS5*!«5S3J*«i«8SSS5S5iS3SSdS5S«Ss5SSS<S!<l8jUJi<S >A I hi iiisiisisssisisiiiiiiisiiifiiissiiiiiiiisiiiiliiiiiiiiiiiiiliiisiiiiiiisiisisissiiiiiliiiiiiiiiisiiisiii .»2tfSS59c°s,Ml!l~«JSn ®“SN* (i,,!0%StSS~g«®S«»nSgSi«SNN.i«SE2SSJS r5Si*C» nN(i.SMlN*gSsc®NgsS*»2»»2»ielv®°S«9SSai!SE«, ii I !f!ill!!ii!i3ilIllllIliiys!liIli!f!f!lIIIlsIililll!lflffill!il?si ss ,Jiiffll{fllilSL!!!sfIfl!fiIll!fl Meiban Mar S P 1.199 3.128 1.39 3.62 MOIL Sap 16 1 9.60 33.90 1.36 4.87 Mmq Wah Sap 18 1 6.368 3 602 3 30 1.87 Natsteel Elec Mar 3 P
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    • 150 16 BONUS ISSUE E*Books Acc 6 Company Ratio date close Paymt Pan Pacific one-for-two Mar 9 Mar 19 NA RIGHTS ISSUE EaBooks ACC Company Ratio data dose Paymt ABR Mldgs two-foroneiP $0.25 Dec 23 Dec 30 NA OTHERS ExBooks ACC 4 Company Ratio data close Paymt flextech $22,000,000 2.25%
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    • 76 16 Straits Times Index The Straits Timas Index rosa 36.08 points in the weak to 1,485.74. DAY CLOSE TURNOVER Monday 1.451.84 <♦ 2.18) 141.4m ($267.7m) Tuesday 1,440.52 11.32) 138.4m ($270.5m) Wednesday 1,469.53 (*29.01) 301.4m ($400.3m) Thursday 1,471.73 2.20) 272.2m ($489.6m) Friday 1,485.74 (*14.01) !83.8m ($343.6m) BT-SRI Index The
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    • 753 16 Payment (Ctl) Is date Books close Pay data Austraiand A$0 50 f 5 Marl Mar 8 Mar 26 AslaPac Brew F 9 Feb 26 Mar 5 Mar 17 Avimo 20c F 3.5TE Mar 1 Mar 8 Mar 23 ABN AmroNGI.25 F NLG0.67 Mar 10 May 28 Amtek 20c
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    • 29 16 Company Description StrM System Proposed Bonus Issue of 68.443,793 ord shores ot SJ0.10 eoch on the bosis ol 1 Bonus Shore for every 3 existing shores held.
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    • 122 16 Company Place Date Time Cerebos Pac A Hilton S'pore Stn Level Indonesia Rm S81 Orchard Rd S'pore (*****3) Mar 15 12 noon WBL Corp A 65 Chuiia Street OCBC Centre #50-00 S'pore (*****3) Mar 17 10.30am Central Properties A Tudor Ballroom Goodwood Park Hotel 22 Scotts Rd S'pore
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    • 1313 17 UNIT TRUSTS FUNDS March 13,1999 Managers' prices (S$) UNIT TRUSTS Aberdeen Asset Mot Asm Ltd Nicholas- Applegate Aberdeen S pore Gr Fd 1.089 1.145 NA Asia-Pac Gr Fd 0.510xd 0.540xd NA S pore Gr Fd'** 0 680xd 0.715xd Aberdeen Select Portfolio NA Req China Fd!** 0.395 0.415 American Opport Fd
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    • 402 17 Financial Centre Advisory Group will give advice on opportunities in the financial sector THE Monetary Authority of Singapore (MAS) has named a high-level group of experts from the local financial community to help develop the Republic as a financial centre and phase in
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    • 494 17 HK AND SINGAPORE LOCK HORNS AFP ARCH-RIVALS Singapore and Hongkong have raised the stakes in their long-running battle for the coveted status of Asia's No. 2 financial centre after Tokyo, analysts say. The two economies have each announced bold measures under their recent defi-cit-bound
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    • 151 17 THE European Bank for Reconstruction and Development the third supranational agency to tap the Singapore dollar debt market has launched a $l5O million fiveyear bond issue. This maiden Singapore issue by the EBRD comes hot on the heels of a $3OO million Sin-gapore-dollar bond
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    • 4098 18 Transaction «tote: March 12,1999 MULTI 52-Wk Hiqh INDUSTRY Low Company Curr Last Tradtd Sale ♦Of Vol 000 Day High Low Cr's Div Nat M Cap P/E Smll Wt Avg Prlct 142 17.5 72.5 *0.5 99 72.5 71.5 27.5 5.1 119.9 71 49 25 29 195 18.5 17.3
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    • 974 19 52-Wk High Low Curr Last Company Traded Safa ♦orVol •000 Day High Low Gr's Div Net P/E M Cap $mll Wt Avg Price MANUFACTURING 219 30 p AS Auto 10c 92.5 -0.5 234 94 91.5 15 N 8.7 105.6 91 79.5 45 e ASJ Hldgs 20c 56 -5 10
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    • 1341 19 BONDS, LOANS WARRANTS Transaction date: March 12,1999 52-Wh High Low Company Last Salt ♦or* Vol 000 Day High Low Last Ouota Buyar Sallar Wt Avg Prict 18 3 A Acar W*****1USS .13.5 -0.5 173 14 13.5 13 13.5 35 4.5 Acma W*****4 16.5 •0.5 321 17 165 165 17 17
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    • 135 19 (9am,March 12) Buying 00 Selling Singapore dollars to one unit of foreign currency Australian dollar 1.0940 1.1090 Canadiandollar 1.1500 NZ dollar 0.9160 0.9360 Sterling pound 2 8220 2.8510 US dollar 1.7300 1.7410 Singapore dollars to 100 units of foreign currency Austrian schilling 13.70 14.10 Belgian franc 4.690 4.800 Chinese
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    • 446 20  -  S2OM FIGURE BEATS FORECASTS Bu LEONG CHAN TEIK VEHICLE distributor Inchcape Motors has announced full-year net earnings of $20.2 million, which was better than analysts' consensus forecast of $18.3 million. However, the earnings were 43 percent lower than in 1997The mainboard-listed company said it was
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    • 708 20  -  Provisions for sour loans double as non-performing loans swell six times to just over $7 billion Hi AMY BALAN DBS BANK, which last year acquired the man-in-the-street's POSBank, on Monday announced a halving in full-year net profit amid a doubling in provisions for bad
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    • 350 20  -  Hi DENNIS CHAN OVERSEAS Union Bank (OUB) has reported a drop of about 30 per cent in group net earnings, due mainly to the substantial provisions being made for ballooning non-per-forming loans (NPLs). The $180.4 million net profit figure was below that
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    • 411 20  -  By Bii NARENDRA AGGARWAL SINGAPORE’S economy could, at best, grow by a mere 0.4 per cent this year. Or it could contract by 0.3 per cent under a pessimisticscenario, say economists at the National University of Singapore (NUS). They expect the recession to continue until
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  • Page 21 Advertisements
    • 1064 21 The Straits Times Weekly Edition APPOINTMENTS i'dfat v if °/4L National Council Of Social Sen/ice is the umbrella body for social sen/ice organisations in Singapore. We plan and co-ordinate social sen/ices to the elderly, disabled, family, children and youth and the community. We also promote voluntary work. Our fund-raising arm,
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  • Page 22 Advertisements
    • 840 22 r NANYANG TECHNOLOGICAL UNIVERSITY SINGAPORE SCHOOL OF CIVIL AND STRUCTURAL ENGINEERING Faculty Appointments Applications are invited from qualified persons who possess postgraduate specialisation in one or more of the following areas: Structural/Protective Engineering Coastal/Offshore Engineering Geotechnical Engineering GIS/GPS Applications Computational Mechanics Materials in Civil Engineering Rock Mechanics Tunneling and Underground
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  • FORUM
    • 314 23 I READ with interest the recent reports concerning the mock defence exercise gone awry in Jin Tai Secondary. Most people arc quick to lay blame and demand a formal apology from the principal. Mr Tang Swee Chav, and the teachers responsible for the
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    • 512 23 Test with Indonesia a godsend for S' pore I HAVE followed with much interest the debate on the issue of Singapore being tested by Indonesia. It cheers me that Singaporeans are responding, both individually and in groups, to all the baseless comments, innuendoes and veiled threats with panache. ST Weekly’s
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    • 354 23 IN THE midst of the mass worship of cyberspace and information technology, it is timely to reflect on its effects on our lives ''"Thinking Aloud" by Mr Sonny Yap, ST WEEKLY, Page 15 Comouter technology is turning humans from social animals to solitary beings feeding on
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    • 305 23 THE Government has made persistent calls to promote e-commerce. Hopefully, all banks and financial institutions providing services and facilities will not take the Government s call as being applicable only to the big boys. There have been letters in the Forum page concerning the difficulties
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    • 125 23 SINGAPORE Immigration and Registration's revised permanent residency policy, that the "reasons for turning down applications are disclosed wherever possible", is unacceptable. It continues to claim that disclosing details of the points system "could lead to abuse and circumvention". Yet, its examples of past applicants lying
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  • 464 24  -  Its culture of innovation and technolog)’ is what Singapore aims to promote too, in its own way, says BG Lee Hsien Loong WILLIAM CIIOONG ONE of the world’s most innovative companies in the world, 3M of the United States, opened a $4OO million
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  • 493 24  -  Bt, S ANDRA DAVIE IN A year when many new university graduates struggled to find a job, Lim Seng Choon had three to choose from. And that was before he got his results. He received first class honours after taking only 3 1 j
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  • 362 24  -  «a. EDMUNDTEE THE computer game business is a cut-throat industry where only two in 10 games make money. But this did not stop Nanyang Polytechnic from teaming up with two international partners to create an Asian computer game that it hopes will take
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  • 316 24 IF THE Traffic Police have their way, you won’t see their new patrol cars coming. The white Volvos look like ordinary cars from the front and back. The word "Police" and the crest are found only on the sides. These “lightly-marked" patrol cars are part
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