The Straits Times : Weekly Overseas Edition, 15 May 1999

Total Pages: 24
1 24 The Straits Times : Weekly Overseas Edition
  • 20 1 The Straits Times Weekly Edition Saturday May 15.1999 Price: S$ 1.20 (in Singapore) Elsewhere by subscription only MITA (P) 080/08/98
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  • 746 1  -  They are needed to renew the core talent to run the country and create wealth, says PM Goh fI!L /I RAID ill IBRAHIM SINGAPORE will fail to renew its core group of talent to run the country and help create wealth if its brightest
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  • 328 1  -  SANDRA DAVIE THE Government is spending $4.46 billion in a massive programme to rebuild and upgrade Singapore schools, and make them better-suited to new priorities in education. There will be bigger classrooms with space for computers, the schools will be networked for access
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  • PRIME NEWS
    • 688 2  -  lju_ UM SENG JIN THE High Court on Wednesday ordered former Merrill Lynch International Bank emnlovee Kevin Wallace to repay the investment bank more than $44 million after a two-day nearing of a suit against him. The case ended abruptly after it became
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    • 640 2  -  Even residents in private estates will have access to MRT and LRT lines if the plan is realised Hu_ GERALDINE YEO PEOPLE, including those in private estates, will Pe able to reach every corner of Singapore by train in the year 2030, if
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    • 314 2  -  !Ll TAN lISL Ell YEN GO WEST, flat-buyer. Eirsttimers wishing to get a new Housing Board flat quickly will stand a better chance if they opt for the West Zone. The wait is shortest in this zone. Applicants are likely
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    • 563 3  -  Five ministers to swap jobs; Communications Ministry to be responsible lor IT; NCB and TAS to merge as new statutory board "1 IRENE \C; PRIME Minister Goh Chok Tong on Thursday announced a major Cabinet reshuffle which saw five ministers swapping jobs, the Communications Ministry expanded
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    • 560 3 Reshuffle will yield stronger team' BROADER EXPERIENCE FOR MINISTERS, SAYS PM THE latest Cabinet reshuffle will yield a stronger ministerial team because after this round, every minister would have broader experience, Prime Minister Goh Chok Tong said yesterday. The five ministers involved in the reshuffle would be stretched in their
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    • 313 3 CHANGE OF PORTFOLIOS Mr Lee Yock Suan PRESENT APPOINTMENT: Minister for Trade and Industry NEW APPOINTMENT: Minister for Information and the Arts and Minister for the Environment BG (NS) George Yeo PRESENT APPOINTMENT: Minister for Information and the Arts and Second Minister for Trade and Industry NEW
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  • PARLIAMENT
    • 879 4 Senior Minister Lee Kuan Yew joined in the debate on the Singapore 21 vision on Mai/ 6. His speech toadied on various topic's, including the difficulties of nation building, why Singapore needs global talent to compete and the need to have a core of capable
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    • 745 4 Banking headed downhill unless. IN THE last 8' 2 years since I resigned as Prime Minister and I've had the advantage of time and the opportunity to attend meetings with top bankers, top executives in different parts of the world. I have concluded that our previous aspiration of becoming the
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    • 442 4 WE ARE not Americans. And in certain respects, 1 wish we could become more like Americans in their grassroots volunteerism. In the early days, the first American expatriates came, they formed a committee to help other expat wives and families to navigate where to
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  • HOME
    • 351 5  -  It will ensure that genetically modified products made here comply with global standards IllL EDMUNDTEE THE international trade in genetically engineered food and drugs is expected to exceed a hefty US$5OO billion (SsBso billion) in about 15 years, and Singapore wants a 5 to
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    • 714 5  -  SHARON VASOO AN URN containing Mr Thomas Vincent Gomez's ashes is missing. Someone took it away seven days after he died and his wife, Madam Mary Cecily, 59. wants it back. “We had made all these plans to be together but now I don’t even know
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    • 389 5 BUSINESSMAN Abraham Aaron Isaac took legal action against Orchard Towers’ management all the way to the Court of Appeal, so that he could get direct lift access to his office units. He won in the end, when the court ruled that he was
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    • 351 5  -  KAREN WONG TRAINEE manager Vittrup Soren Jensen rang for a taxi, and ended up being knocked doyvn by another cab tyviee. He had dialled for a CityCab, but then he opened the door of a Yellow-Top thinking that it
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    • 538 6  -  Seven out of 10 lawyers have problems preparing for hearings that are brought forward liy TAN 001 BOON LAWYERS here arc- feeling the pressure because they say the courts are moving too fast for them, a Straits Times poll of law firms has shown.
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    • 327 6 POLYCLINIC patients can now see hospital specialists more quickly and with less hassle than before. The polyclinics will work with hospitals so that patients will have a shorter wait for hospital appointments. This is the aim of a pilot project to integrate primary health care services
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    • 362 6  -  By lit SAMANTHA SANTA MARIA A PIECE of rock from the moon will be flying into Singapore soon. And when it lands here, it will be guarded round the clock and given the full VIP treatment. The moon rock, the size of an ostrich egg,
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    • 234 6 TWO books containing poems, essays, short stories and other literary works in Chinese will be published every year in Singapore, in a plan to encourage creative writing in the language here. The works will come from sources such as students and members of the public. Their
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    • 394 7 Neighbourhood centre includes clock tower, playground, and extended sheltered walkways RESIDENTS of Cheng San GRC now have an upgraded neighbourhood centre, complete with new facilities such as a children’s playground, clock tower, and extended sheltered walkways in front of shops. And they received a reminder
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    • 127 7 SHOPPERS along Orchard Road can now go online to get weather reports and tips about the best buys, or just to find their bearings. They need only head for any of the 91 multimedia kiosks put up along Orchard Road by i-Ono.Net International, a
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    • 488 7  -  EDMINDTFE AN INSECT-SIZED robot creeps forward in the dense jungle undergrowth, deep inside enemy lines. Its eyes scan for the enemy and report back to headquarters promptly and without fail. Equipped with automated systems that let it navigate and communicate without human
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    • 287 8 Singaporeans on business or holiday there won’t be needing visas, provided their stay is short IN A matter of months, Singapore citizens will no longer need a visa to make short business or holiday trips to the United States. As long as they
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    • 142 8 YOU are never too old to conquer a flight of stairs, Mr Ang Siew Hoe. 73. proved on Sunday. He was the oldest among about 200 people who took part in the vertical marathon at the 73-storey Westin Stamford. He said that he has been going
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  • Page 7 Advertisements
    • 206 7 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 one
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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 Ud 1145 Newsline 1200 News/Weather (AsiaPacific) 1210 E Z Beat 1230 Business Market Report 1235 The Written Word
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  • SPORTS
    • 829 9  -  Special day as yesteryear’s greats come together as four more join Singapore’s Hall of Fame lit ports by SAXTOKH SINGH IT WAS a ceremony to induct Asian Games gold medallists Siew Shaw Her, Colin Ng, Joan Huang and Naomi Tan into the
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    • 472 9 Front Row (L-R) Ong Poh Lim, Naomi Tan,Joan Huang, NgSer Miang, Abdullah Tarmugi, Kwan Yue Yeong, Koh Poh Tiong, John Koh, Siew Shaw Her, Tan Howe Liang. 2nd Row (L-R) Ang Peng Siong, Ben Tan, Henry Tan, Mrs Sam Goh, Junie Sng. Lui (,’hee (Chee
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  • MALAYSIA
    • 461 10  -  Firm decision on period after Dr Mahathir and deputy premier return from campaign trails BRENDAN PEREIRA IN KI'ALA Ll’MPl'R DISREGARD talk of snap polls being called bv Prime Minister Mahathir Mohamad next month or in the next few weeks. It is learnt that the AugustSeptember
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    • 389 10 AFP, Bernama KUALA LUMPUR Malaysia is to extend its mass pig culling to the eastern state of Kelantan. after +0 pigs there tested positive for a deadly virus. An outbreak has killed about 100 people elsewhere in the country. It was the first time that the
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    • 291 10 New Straits Times LONDON The Sunday Times of London has identified the aircraft which flew over central London two weeks ago with near-empty fuel tanks as belonging to Malaysia Airlines, a claim denied immediately by the carrier. Malaysia Airlines UK. Europe and Ireland vice-presi-dent
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    • 480 10 New Straits Times, AFP. The Star/Asia News Network LUMPUR Malaysian High Court Judge Augustine Paul said he had to “strain" to find mitigating circumstances when sentencing Anwar Ibrahim last month and admitted that he wanted initially to jail the former
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  • SOUTH-EAST ASIA
    • 467 11  -  Comfortable margin of support from provincial leaders, but lie does not get unilateral say on vice-president, if occasion arises SUSAN SIM INDONESIA CORKESI'ONDENT JAKARTA President B.J. Habibie was early yesterday morning named Golkar’s sole presidential candidate with a comfortable margin of support from its provincial
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    • 502 11 Susan Sim JAKARTA Their deaths galvanised a repressed nation into angry protests which toppled a president, and the phrase Trisakti reform heroes entered the lexicon of a new Indonesia. But one year after as-yet unidentified military snipers shot down four student protesters in front of
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    • 272 11 The Manila Times Asia News Network MANIIA Police have allegedly tapped about 3,000 telephone lines illegally including those of government officials and police officers critical of the Estrada administration, two legislators said. Iloilo City Representative Raul Gonzalez said he recently received information that an elite
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    • 329 11 AFP PHNOM PENH Cambodia’s Prime Minister Hun Sen has ordered that former Khmer Rouge chief executioner "Duch” be detained by the military for his own protection. However, he refused to say whether Kang Kek leu, recently tracked down fixing freely as a born-again
      – AFP  -  329 words

  • COMMENTARY
    • 603 12 FRIDAY MAY 14,1999 JUSTICE delayed is justice denied, the saying goes, so why are Singapore lawyers complaining that the civil courts are moving too fast for them? Strangely, they sound unhappy, if not out of breath. Just the opposite reaction to what one would have thought,
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    • 700 12  -  SECOND LAST WORD YEONG AH SENG THE recent flap over SingNet's unauthorised scanning of subscribers’ accounts is a clear signal that Singaporeans do take their privacy seriously, electronic or otherwise. Notwithstanding SingNet's explanation that it did nothing wrong, except for not telling people
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    • 601 12 MONDAY MAY 10,1999 Americas china policy is in a sorry’ mess. It was not so 10 months ago, when President Bill Clinton made his state visit to China. Since then, a series of US decisions have transformed US-China relations for the worse. First, Mr Clinton discovered the
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    • 964 13  -  MY VIEW K'l ASAD LATIF THE family is the' building block of Singapore. How is construction coming along? An anecdotal journey through the landscape offers a good view. A mother earn ing the week’s shopping home by bus intervenes in a
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    • 1061 13  -  VIEWPOINT n<i dll'A Mil lIOONC. WHEN two Deputy Prime Ministers say rather different things about scholarships and bonds, what does it all mean? The comments were grist to that favourite of all armchair political observers’ mills: a Cabinet split on an issue. And yet that would be
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  • INSIGHT
    • 1238 14 It has been four yean since the launch of the PS2I movement, which aims to make the public service more customer-oriented and more consultative. So how does it keep in touch with the people? How will it partner the private ana people sectors as
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    • 272 14 COM E June, the Public Sen ice Commission is going on-line to stay in touch with government scholars here and overseas. It will launch a new Internet bulletin board called Scholars’ Forum for PSC scholars to meet and talk on scholarship and public policy matters. “Scholars
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    • 1308 15  -  THINKING ALOUD “•I i Zl RAIDAII IBRAHIM CALI- it a reality check. In sobering speeches last week, Prime Minister Goh Chok Tong and Senior Minister I-ee Kuan Yew joined the dehate on Singapore 21, not to praise its high ideals, hut to warn of the
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    • 1056 15  - S21 Over to you now, Singaporeans LAST WEEK IN POLITICS «1/ CHI A LEE HOONG WRITING after the first day of the Singapore 21 parliamentary dehate, on Tuesday, I noted how-1 was struck by the strong support that MPs gave to the vision to turn Singapore into the 'best home"
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  • MONEY
    • 352 16 SINGAPORE shares reeled from profit-taking, contra-sell-ing and firmer interbank rates for the most part of the week before recovering on Friday as bargain-hunters saw further upside ahead for share prices. The benchmark Straits Times Index (STI) started the week at 1,862.38 points and ended up 20.9
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    • 81 16 Straits Times Index Th« Straits Timas Index dosed 20.9 points on the week to t,883 28 DAY CLOSE TURNOVER Monday 1,862.38 (-37.07) 564.464 ($795.728m) Tuesday 1,888.88 (*26.50) 614.229 ($749 126m) Wednesday 1,889.02 (*014) 852.045 ($802.181m) Thursday 1,868.83 (20.19) 567.954 ($677.140m) Friday 1,883.28 (+14.45) 841.188 ($822.224m) BT-SRI Index
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    • 1876 16 Company Data ann Net earn TV LY <$m) ($m) EPS TV IV lets) lets) Amara Hldgs Mar 31 P 1.840 7.425 0.32 1.50 Apollo Ent Mar 26 P 7.010L 1.997L 4.5L 1.31 AsiaFood Mar 29 P *****7 45.157 4 85 1.85 Alliance Mar 30 P 17.251 30.9981 211
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    • 1027 16 Payment fets) Cx date Books close Pay date BBR Sc b 1 May 20 May 27 Jun 15 Berger Intl25c r. 0.25 Jun 14 Jun 21 Jul 2 CtC 10c r 10 May 11 May 18 May 28 CWT 25c b 221 Jun 1 Jun 8 Jun 18
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    • 156 16 BONUS ISSUE ExBooks Acc Company Ratio date close Paymt Serial Sys one-tor-three Apr 30 May 7 NA OUB one-for-ten May 10 May 17 May 28 8BR one-for-one May 20 May 27 Jun 15 Cm) Kong one-for-two May 25 Jun t NA RIGHTS ISSUE ExBooks Acc t Company Ratio
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    • 35 16 Company 0« script ion Motel Proposed private Prop placement of 41,127,000 new Ord Shares of SS1.00 each In the Capital of Hotel Properties Ltd at SSI.288 per Placement Share. Merill Lynch will manage.
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    • 123 16 Place Date Time Pac Century A Merchant Court Hotel Elmwood Room 20 Merchant Rd S'pore (*****1) Jun 10 10.00am Keppel Corp A 325 Teiok Biangah Ra S'pore (*****1) Jun 8 11.00am Keppel Tat Lea Sank A Conference Room Keppel Corpn Ltd 325 Telok Siangan Rd S’pore (*****1) Jun
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    • 1309 17 UNIT TRUSTS FUNDS •May 15,***** Managers' prices (S$) UNIT TRUSTS Aberdeen Asset Mgt Asm Ltd Morgan Grenfell (Asia) Limited Aberdeen S pore Or Fd 1383 1.454 MG Premier Select T/6 0.87 0.91 MG Asia Premier T!** 1.06 1.11 American Opport Fd Continental Euro Eqty Fd 1.096 1.024 1.152 1.076 MG
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    • 547 17  -  Earnings and revenue stay afloat despite a difficult 1998. Group hopes for growth this year Hjl DENNIS CHAN DESPITE a difficult year because of the regional economic crisis. PSA Corporation has turned in another billion-dol-lar performance which saw Singapore regain its position as the busiest
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    • 313 17  -  Oil YEOW PEI UN THE information technology services sector in Singapore is forecast to grow at an average annual rate of 24 per cent to hit US$3.2 billion (555.4 billion) by 2002. This is in tandem with projected growth of the Asia-Pa-cific market, which is
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    • 326 17 AFP RIGA (Latvia) A Singapore company has helped bring about a dramatic change to a company here. To many in this Central European state, the transformation of the Technological Tool Factory here since the collapse of the Soviet empire will be an example for
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    • 4713 18 1 1. I Transaction date: May 14,1999 MULTI INDUSTRY 52-Wk High Low Company Curr Last Traded Sale ♦orVol Day 000 High Low Gr's Oiv Net M Cap P/E Smil Wt Avg Price 127 17.5 I m D AcmaSOc 121 cd ♦1 830 122 120 10 99 200.2
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    • 1048 19 52-Wk High Low Curr Lost Company Traded Sale ♦Of* Vol '000 Day High Low Gr's Dlv Net P/E M Cap Wt Avg $mil Price MANUFACTURING 142 30 c AS Auto 10c 117 ♦2 1452 119 116 15 N 11 133.6 117 79.5 45 c ASJ Hidqs 20c 70 cd
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    • 1556 19 BONDS, LOANS WARRANTS Transaction date: May *****91 52-Wk High Low Company Last Salt ♦or* Vol 000 Day High Low Last Quota Buyer Seller Wt Avg Price 25 3 s -Acer W*****1 US$ .23.5 unch 146 24 23.5 23.5 24 35.5 4 5 s Acma W*****4 29 5 ■0.5 925 31
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    • 137 19 (9am,May 14) Buying 00 Selling Singapore dollars to ona unit ot foreign currency Australian dollar 1.1350 1.1510 Canadian dollar 1.1590 1.1840 NZ dollar 0.9510 0.9710 Sterling pound 2.7550 2.7830 US dollar 1.7020 1.7130 Singapore dollars to 100 units of foreign currency Austrian schilling 13.00 13.40 Belgian franc 4.460 4.560
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    • 412 20  -  Long-term contracts represent a win-win situation for customers as well as the telecom group Ky TAMMY TAN SINGAPORE Telecom, stealing a march on newcomer StarHub, has signed more than $2OO million worth of contracts with large corporate customers over the last four months. Sing Tel
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    • 466 20 CLOBIMPASSE CLOB was not an illegal market for the trading of Malaysian securities, but rather a win-win arrangement for both sides, said a Stock Exchange of Singapore (SES) statement on Tuesday. The SES was responding to a statement last week by
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    • 549 20  -  Bit WALTER FERNANDEZ THE Akbar Khan cash offer for Clob shares contains flaws, gaps and a potential escape clause for his firm, says a damning independent legal opinion of the proposal. Well-established local law firm Allen Gledhill, which was asked by
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    • 165 20 Bernama KUAIA LUMPUR The issue of Effective Capital’s cash offer for Clob shares need not be included in the package of issues to be resolved between Malaysia and Singapore as it wall further complicate matters, said Foreign Minister Syed Hamid
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  • Page 21 Advertisements
    • 868 21 The Straits Times Weekly Edition APPOINTMENTS I 1 I ARAR Opportunity to join The Best in Banking. DBS Bank, Singapore's largest local bank, invites self-driven, dynamic individuals to join its team of able and dedicated staff CORPORATE AFFAIRS OFFICERS You will be involved in providing support to management on corporate
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  • Page 22 Advertisements
    • 977 22 GM General Motors Asia Pacific (Pte) Ltd eneral Motors is the world's largest industrial corporation, employing 608,000 people worldwide, with automotive operations in 51 countries. Total wholesale vehicle sales in 1997 were 8.776 million units, maintaining GM's position as the number one vehicle manufacturer in the world for more than
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  • FORUM
    • 261 23 T~ HAVE lone; lost respect ilor much of the political leadership in Malaysia and the latest comments by some Malaysian ministers on the Clob issue only serve to justify* this. It is apparent that Singaporeans are being exploited yet again bv the
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    • 267 23 I REFER to the unfortunate series of events in which the National Kidney Foundation (NKF) was libelled repeatedly and had to take legal action to protect its reputation. While the NKF is well within its legal rights to do so. it nas to
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    • 332 23 A RECENT study done to ascertain how attractive Singapore is among expatriates stated that Singapore was a spot behind the Philippines, due to the lack of nightlife. Perdaus sincerely hopes that these results will not be used as justification for any attempts to loosen
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    • 537 23 Senior Minister Kuan Yew has endorsed the S2l report. but says “it’s an uphill battle". Given his realist-pragma-tist mindset and wide experience, his cautious and guarded support of the S2l committee’s recommendations is not surprising. The report was debated in Parliament, with about 40
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  • 412 24 National Day Parade on Aug 9 promises to be a feast for the eyes and ears. Here are some of the highlights CELEBRITY MCs Gurmit Singh Sharon Au Andrea De Cruz Capt Zakir PRE-PARADE SEGMENT Celebrities such as Gurmit Singh, Sharon Au and Andrea De Cruz,
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  • 462 24 Courts will now be given more community-based options to deal with first-time offenders THE courts are not “going soft" just because they are likely to get the power to mete out more lenient sentences that are com-munity-based. First-time offenders may get a chance at
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  • 351 24  -  !h. EVELYN YAP THIS year’s Singapore Food Festival will offer more places to feast at and budget dishes, some costing as little as $1.99. The Singapore Tourism Board (STB) is spending $500,000 to market the sixth annual food festival as part of its 15-month-long
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