The Straits Times : Weekly Overseas Edition, 25 May 1996
1996-05-25
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The Straits Times : Weekly Overseas Edition
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Title Section20 1996-05-25 1 The Straits Times WEEKLY EDITION SATURDAY, MAY 25, 1996 Price: 551.20 (in Singapore) Elsewhere by subscription only MITA (P) 008/08/9520 words
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Article, Illustration1066 1996-05-25 1 Warren Fernandez - Parliament hears how discounts are given By Warren Fernandez PARLIAMENT on Tuesday debat ed the sale of condominium units by Hotel Properties Limited to Senior Minister Lee Kuan Yew and Deputy Prime Minister Lee Hsien Loong and heard that these were open and1,066 words
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Article, Illustration913 1996-05-25 1 Property purchases PRIME Minister Goh Chok Tong on Thursday spelt out new rules for ministers, MPs and civil servants who buy properties, saying that these would further safeguard the integrity of the Govern ment and protect its “enviable record of incorruptibility”. Ministers would have toPicture taken off TV - 913 words
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Page 1 Advertisements
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Advertisement28 1996-05-25 1 Planning a CAREER Move CHECK OUT Pages 21 22 Badminton ace Wong Peng Soon dies: Page 10. SM gives 3 ideas to help S’poreans own properties: Page 2428 words
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NEWS FOCUS
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Article, Illustration712 1996-05-25 2 Leong Chan Teik - By Leong Chan Teik THE first Public Transport Council audit of bus operations here has found that service providers met most of the standards it set in November 1994. But the council was not satisfied with the frequency of services duringFI ftt UUpfU ph IC - 712 words
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Article, Illustration131 1996-05-25 2 Record 56,672 people take part in TNP event THEY do not call it the Big Walk for nothing. A record 56,672 people took part in The New Paper Big Walk on Sunday. The turnout smashed the organiser’s earlier expectations of a crowd of 45,000 and wellPicture by GEORGE GASCON. - 131 words
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487 1996-05-25 2 Kalpana Rashiwala - By Kalpana Rashiwala THE Real Estate Developers’ Association of Singapore on Thursday last week said that while it supported the Government’s moves to curb excessive property specu lation, it hopes the market-cooling measures will be temporary. “We hope the recently announced measures are implemented487 words
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Article, Illustration693 1996-05-25 3 Wang Hui Ling - By Wang Hui Ling SINGAPOREANS who use their votes to vent personal frustrations against the Government are doing themselves, their families and other citizens a great disservice, said Home Affairs Minister Wong Kan Seng on Sunday. “They are doing a great disservice693 words
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Article, Illustration288 1996-05-25 3 MORE policewomen are now rostered to go on patrol alongside their male counterparts. Such patrols have traditionally been reserved for men, but these women have proven themselves in handling emergency calls. Constable Michelle Ng, 28. of Central Police Division, said: “It is no more288 words
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549 1996-05-25 3 Results not conclusive, says committee MEASURES taken to stop car distributors from bidding for Certificates of Entitlement (COEs) and then selling them as part of car-COE packages, have contributed to lower COE prices. This was the conclusion of a specially-formed committee which recommended the549 words
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PARLIAMENT
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Debate over property purchases by SM and BG Lee
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Article, Illustration1720 1996-05-25 4 Prime Minister Goh Chok Tong on Tuesday made a ministerial statement on the purchase of properties by Senior Minister Lee Kuan Yew and Deputy Prime Minister Lee Hsien Loong. He spoke about how he first learnt about the matter,– Picture taken off TV. - 1,720 words
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SM Lee: Nothing to hide. At the end of it, the facts must be here
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Article1301 1996-05-25 5 Senior Minister Lee Kuan Yew on Tuesday gave an account of how his wife and he came to buy the two condominiums in Nassim Jade and Scotts 28. He said Mrs Lee had bought the unit in Nassim Jade with the idea of living there when1,301 words
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1512 1996-05-25 5 PEOPLE outside say that you have the inside track, my son has the inside track, ministers have the inside track, Permanent Secretaries, MPs have the inside track, and you get invited to soft launches, they queue outside. And sometimes pay1,512 words
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929 1996-05-25 6 Mr Lee declared on Tuesday that he took pride and satisfaction in the way his purchases of HPL property had surfaced. Even though he and BG Lee were at the centre of the controversy, the Government had not shied away from929 words
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Article, Illustration1493 1996-05-25 6 Mr Lee reiterated on Tuesday that it was his wife who had earned enough money to buy several properties, including some for their children. This she did through her legal practice, which also enabled him to continue as prime minister while being1,493 words
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126 1996-05-25 6 The proudest thing she is of are her three children upright, well-behaved, honourable. I don’t think my son was brought up to take a little grease. And if Singaporeans believe that he is lesser than his father, then Singaporeans are in for a very foolish mistake.126 words
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Article, Illustration2799 1996-05-25 7 Deputy Prime Minister Lee Hsien Loong on Tuesday gave a detailed account of the circumstances surrounding his purchase of two condominiums in Nassim Jade and Scotts 28 to dispel any lingering mystery or doubt over the deals. Below is the2,799 words
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609 1996-05-25 8 PRIME Minister Goh Chok Tong said on Tuesday that he did not doubt the integrity of Senior Minister Lee Kuan Yew and Deputy Prime Minister Lee Hsien Loong, but he had to verify the market talk on609 words
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239 1996-05-25 8 h/VHAT SM LEE SAYS SENIOR Minister Lee Kuan Yew revealed on Monday that he had urged Hotel Properties Limited to release all the facts concerning the sale of properties to him and Deputy Prime Minister Lee Hsien Loong. In a239 words
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Article, Illustration859 1996-05-25 8 BUSINESSMAN Ong Beng Seng said on Monday that the sale of condominium units by his company, Hotel Properties Limited, to Senior Minister Lee Kuan Yew and Deputy Prime Minister Lee Hsien Loong were normal commercial transactions which were “totally above boardPicture by ALBERT SIM. - 859 words
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475 1996-05-25 8 THE purchases of HPL property by Senior Minister Lee Kuan Yew and Deputy Prime Minister Lee Hsien Loong were completely normal, but their actions had become entangled with the complex pricing schemes used by aevelopers, said Finance Minister Richard Hu on Tuesday.475 words
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HOME
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Article, Illustration325 1996-05-25 9 STANDING at 1.24 m, eight-year-old Kenneth Teo is only slightly taller than a golf club, but he can certain ly wield one with great aplomb. This comes from 12 weeks of practice at the PGF Driving Range in Toa Payoh with325 words
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558 1996-05-25 9 Ginnie Teo - Women use them to get Singapore citizenship By Ginnie Teo SOME marriages between Singaporean men and Chinese nationals are breaking down after the women obtain citizenship here, a check by The Sunday Times has shown. Six lawyers who were interviewed558 words
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Page 9 Miscellaneous
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Miscellaneous1241 1996-05-25 9 RADIO SINGAPORE INTERNATIONAL (ENGLISH) PROGRAMME SCHEDULES 1100 1400 Hours (GMT) 9530 KHz (31M BAND) MONDAY 1100 News in Brief/Weather Forecast (Asia Pacific) 1105 Frontiers 1120 Business Market Report 1130 Full News 1138 The Front Page 1140 Take Five 1145 Business world 1200 News in Brief 1205 E Z Beat 12201,241 words
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SPORTS
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Article, Illustration208 1996-05-25 10 Joe Dorai - By Joe Dorai SINGAPORE'S best known sportsman. Mr Wong Peng Soon, died on Wednesday morning. He was 78. The four-time All-England singles badminton champion died of pneumonia at the Toa Payoh Hospital. He was taken to the hospital from the East Coast Medicare CentreFile pictures. - 208 words
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576 1996-05-25 10 DEATH OF A LEGEND THE form er Presiden t of Sin ?apore. Mr Wee Kim Wee. a een badminton player and top official in his day and a badminton contemporary of Wong Peng Soon, recalls the legend. “I AM sorry and sad to576 words
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Article, Illustration728 1996-05-25 10 S. Murali - Sports Awards Night By S. Murali AS THE cream of Singapore sports received their dues at the Sport Awards Night 1996 on Sun day. one man was missing from the proceedings at the posn Raf fles Ballroom of the Westin728 words
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MALAYSIA
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221 1996-05-25 11 •v>TA TINGGI Ten bungalows owned by Singaporeans, built illegally on government reserve land near here, were demolished by the authorities on Tuesday, Bernama news agency reported. The buildings in Sedili Kechil were torn down by the Enforcement Division of the Johor Land and Mines221 words
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371 1996-05-25 11 NST. MUAR The Johor state govern ment has announced that it will stop selling unprocessed water with immediate effect. The ruling, however, does not affect current agreements with Singapore and Malacca. Singapore and Malacca buy unprocessed water under sepa rate agreementsNST. - 371 words
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Article, Illustration333 1996-05-25 11 Bernama. IPOH The High court last Saturday dismissed former Dewan Rakyat Deputy Speaker D. P. Vijandran’s appeal against the conviction and sentence imposed by the Sessions Court in his perjury CdSC. Justice Datuk Seri Ahmad Fairuz Sheikh Abdul Halim said that he was confirmingBernama. - 333 words
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166 1996-05-25 11 -AFP. KUALA LUMPUR The Sarawak state government would waive a M$ 100,000 (5556,990) levy for foreigners who bought property in the state. Sarawak Mentri Besar Tan Sri Abdul Taib Mahmud said on Tuesday that the levy imposed by the central government in October-AFP. - 166 words
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SOUTH-EAST ASIA
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Article, Illustration146 1996-05-25 11 FORMER World War II Japanese straggler Hiroo Onoda, 74, (above) making a sentimental return to the Philippines on Monday. With him was Lubang Governor Josephine Ramirez Sato. Mr Onoda, who hid in a Philippine jungle for 29 years after the war ended, said he was happyReuter picture. - 146 words
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531 1996-05-25 11 Sinfah Tunsarawuth - Bangkok to kick off political reform By Sinfah Tunsarawuth in Bangkok THAILAND’S Parliament has apS roved in principle a Bill to amend le Constitution, which, for the first time, paves the way for an elected government to wnte a new charter. Prime531 words
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214 1996-05-25 11 AFP. JAKARTA Indonesian authori ties have formally sought the help of 119 countries to trace escaped bank swindler Eddy Tansil, according to reports here on Tuesday. “We have sought help from 119 countries, through diplomatic channels,” Justice Minister Utoyo Usman was quoted by theAFP. - 214 words
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COMMENT / Pick of the week’s editorials
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Article697 1996-05-25 12 MAY 25,1996 THIS has been a remarkable week, even by the standards of Singapore's politics of introspection. A government’s code of honour, usually taken on good faith, was thrown open to public inspection. Senior Minister Lee Kuan Yew and Deputy Prime Minister Lee Hsien697 words
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Article672 1996-05-25 12 MAY 22. 1996 TAIWANESE President Lee Teng-hui's willingness to visit China for summit talks and his refusal to declare the island's independence were welcome aspects of his inaugural address on Monday "In the future, at the call of my country and with the support of its672 words
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Article609 1996-05-25 12 MAY 20. 1996 THE Government caught many off-guard when it decided to open up the basic telecommunication services market here five years ahead of plan, from 2007 to 2002. A week ago, Communications Minister Mah Bow Tan sprang another surprise with the announcement that the liberalisation609 words
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Article, Illustration824 1996-05-25 12 Alan John - By Alan John UNTIL now, I have felt that those who give to charity <do most by giving quietly. But the response to Monday’s reports in The Straits Times about the mix of contributors to the Community Chest’s Share programme says that givers824 words
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COMMENT / ANALYSIS
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Article, Illustration1103 1996-05-25 13 Tan Sai Siong - By Tan Sai Siong WHEN former Nominated MP Chia Shi Teck spoke last Saturday to The Sunday Times about independent candidates standing for the next election, the rag-trade entrepreneur also commented on the People’s Action Party’s probable slate. He said: “It1,103 words
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911 1996-05-25 13 Chua Lee Hoong - By Chua Lee Hoong SINCE January this year, not a month has gone by without a major constituency walkabout by a minister. Some examples: In January, Community Development Minister Abdullah Tarmugi toured Buona Vista; in February, Environment Minister Teo Chee Hean visited911 words
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INSIGHT A LOOK AT THE ISSUES OF THE DAY BY THE STRAITS TIMES POLITICAL DESK
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Article, Illustration2043 1996-05-25 14 If Singapore’s polling annals are any gauge, independents will always find it well-nigh impossible to make an impact in politics Even two high-profile, erstwhile independent candidates, Mr Chiam See Tong and the late David Marshall, fared much better when they fought under party banners. The grapevine2,043 words
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Article, Illustration1185 1996-05-25 15 The curbs on speculation in the private property market have drawn bouquets from aspiring private home-owners and brickbats from those caught by them. The measures include: subjecting gains from properties sold within three years of purchase to income tax; tightening housing1,185 words
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Article, Illustration834 1996-05-25 15 Han Fook Kwang - Thinking Aloud Han Fook Kwang WHY is there so much public interest even public commotion. according to the Prime Minister in the purchases of two apartments each by Senior Minister Lee Kuan Yew and Deputy Prime Minister Lee Hsien Loong from834 words
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MONEY
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Article7524 1996-05-25 16 INC 'UO 1 niMLMDU l/VJM HCIAL Tra /24, li 1995/ 5urr Vol Dai Qr’a MCapV ft Avg High Low Company Traded Sal# OT000 Ulfih nijn Low Dlv P/E $mil Price ASE NT510 200 US 214 165 Acer 50c US 182 •5 36 185 182 5 ON 11.37,524 words
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489 1996-05-25 18 Sharemarket review THE stock market staged a valiant rebound in the latter half of the week, despite the Straits Times Industrials Index hover ing dangerously close to the psychologically-important 2,300 mark earlier. Trading was lacklustre at the beginning of the week,489 words
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Article1147 1996-05-25 18 Company Data ann Nat aarn TV LY ($m> <$m) EPS TY LY (eta) lets) ABN Amro May 14 F 2 616 2.286 7.7 68 ANA HotflS May 10 F 3795 3 392 7 9 7.1 An* Pac Ld* May 3 P 29.750 22.290 4.2 3.8 Avimo May 171,147 words
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Article288 1996-05-25 18 Company Place Date Time Hong fok A Room 707 Edinburgh Tower The Landmark IS Queen's Road Central Hongkong May 21 10.30am CWT A 47 Jalan Buroh (*****1) May 21 12.30pm L»m K *t\ Ng*m A Hotel Equatorial 2nd floor Bougainvillia Room 429 Bukit Ttmah Road (*****7) May 22288 words
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Article1553 1996-05-25 18 Payment <*>) Ck data Books close Pay data ABB Hldgs SC F 3 Jun 28 Jul 4 Jul 16 Acma SOC r IS Jul 1 Jul 5 Jul 18 Alcorn F 6TE Jul 2 Jul 8 Jul 22 Avimo Grp 20C 6.3TE Auq 16 Aug 22 Sap 161,553 words
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Article165 1996-05-25 18 RIGHTS ISSUE Company Ratio Ex- Books Ace date dote Paymt Freight Links Two*1 (ree wrt-for-four S0.72 Apr 22 Apr 26 NYA MMC Three-for-five <S> MS2.00 May 9 May 23 NY A MBf Hldgs One-for-two MS0.90 Apr 30 May 6 NYA Westmont Two-tor-five 9> MS3.00 Apr 30 May 6165 words
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Article80 1996-05-25 18 ST Industrials Index The Straits Times Industrials Index rose 9.27 points on the week to 2351.06. DAY CLOSE TURNOVER Monday 2322.92 (—18 87) 79.34m ($335.271m) Tuesday 2310.16 (-12.76) 89.71m ($313.297m) Wednesday 2313.02 (>2.86) 83.33m ($297.458m) Thursday 2335.92 (>22.90) 92.85m ($332.149m) Friday 2351.06 (>15.14) 216.16m ($588.694m) BT— MGA80 words
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Article93 1996-05-25 18 Alliance T Four 3 wrts-for-ten $1.00 Amcol One-for-two 9 $2.05 Eltech Fifteen 3 free wrts-for-10 9 $0.25 Liang Court Two-for-flve 9 $1.08 MBt Hidgs One-tor-two V MS0.90 Maiban Two-for-Uve 9 $0.38 Orchard P One-tor-one 9 $1.80 OCBC One-tor-ten 9 $3.00 (L) One-tor-ten 9 $5.16 (F) PM Hidgs Three-for-two93 words
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143 1996-05-25 19 THE Government on Tuesday amended the Income Tax and Stamp Duties Bills to include new regulations to crack down on property speculation. Three sections have been added to the Income Tax Bill to tax any gain from short-term property transactions, including gains made143 words
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Article479 1996-05-25 19 Friday May 24 HKS ASM Pacific 7.50 -0.100 Al'ied Ind lofl 0 42 -0.01 Allied Oversea 0 57 unch Asia Sec Int 1 39 0.02 Bank of EA 26 70 -0 30 C P Pokphand 3.35 0.18 CDL Hofei 4 50 unch Cafe De Coral 2 33 -0 07479 words
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Article502 1996-05-25 19 Mgrs' prices, May 25 27 Singapore Unit Trust The Commerce 1.70—l.SOxd® The Savings Fund 1 66—1 76® S'pore Prog Fund 0.71-0.75® S'pore Sec Fund 1.07-1.13® S'pore Invest Fund 1.18-1.25® S'pore Equity Fund 0.82-0.87® Credit Lyonnais Inti Asset Mgt CL Asia-Pac Gr Fund 0.895—0.94xs* CL S’pore Gr Fund 0.87—0.915xs"502 words
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402 1996-05-25 19 Narendra Aggarwal - By Narendra Aggarwal THE single largest investment in Singapore's petroleum industry. Singapore Renn ing Company's new $1.4 billion residue catalytic cracker complex, was opened bv Trade and Industry Minister Yeo Cheow Tong on Tuesday. Situated on Pulau Merlimau, one of the southern islands, the plant402 words
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220 1996-05-25 19 NATIONAL Computer Systems (NCS), which provides systems integration services to the Civil Service, aims to break into the private sector and regional market in six to nine months. It is holding talks with several large private-sector companies in the health care and manufacturing businesses, and220 words
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439 1996-05-25 19 Tan Kim Song - Mr Mah suggested that Singapore could, for example, help bring a large number of European and American tourists to Sichuan as the Republic is only 4V2 hours away from the province. But to do so, it was important to have frequent direct flights between439 words
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Article163 1996-05-25 19 COUNTER RATES Singapore dollars to one unit of foreign currency Buying 00 Selling US dollar 1.3992 1.4153 Sterling pound ***** 2.1519 Australian dollar 1 0971 1.1315 Canadian dollar 1.0103 1 0338 NZ dollar 0.9437 ***** EC unit 1.7438 Singapore dollars to 100 units of foreign currency Austnan schilling 12.6610163 words
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Article138 1996-05-25 19 Contract date: May 24, 1996 CURRENCY 1 MTH 3 MTH 6 MTH 9 MTH 12 MTH CALL VALUE DATE US$ 4 1 4 7 4 5 5 4v* 29/5/96 A$ 6'« 6 7 6 r 6 7 6 7 5 j 4 28/5/96 NZ$ 9 4 9>i138 words
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Article, Illustration893 1996-05-25 20 Kalpana Rashiwala - Direction of market unclear, say analysts By Kalpana Rashiwala PROPERTY magnate Ng Teng Fong has cast a higher than-expected top bid of $115.3 million for a 158,011 sq ft prime condominium parcel next to the Bishan MRT Station in the firstTimtsgraphici - 893 words
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223 1996-05-25 20 SINGAPORE’S 11.5 per cent manufacturing output growth in March was marred by a weak marine sector, accord ing to the Economic De velopment Board’s (EDB) monthly industrial production index. The transport equipment industry was one of only two sub-sectors which saw a drop223 words
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691 1996-05-25 20 Alvin Tay - By Alvin Tay IN A move that is likely to raise eyebrows in the retail banking industry, Focal Finance said it has started quoting a mere 0.125 point above OCBC Bank’s prime lending rate for car loans of up to seven years.691 words
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Page 21 Advertisements
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Advertisement964 1996-05-25 21 A mrmbrr oj DAG Systems Computer Organisation INTO THE 21ST CENTI ’RY... WITH POISE ISO 9000 A»*'' CERT. NO.: IT M-1-012 SS ISO *001:1M4 That's our goal! And if you're excited about it and want to be part of the team that builds a world class defence administration then SCO964 words
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Page 22 Advertisements
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Advertisement779 1996-05-25 22 Providing llliS bal Trade Connection Trade Development Board, Singapore's national agency responsible for promoting international trade, invites suitably qualified candidates to apply for the position of: DEPUTY DIRECTOR, PUBLIC RELATIONS Reporting to the Chief Executive Officer, the successful candidate will be responsible for planning and directing a wide range of779 words
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FORUM
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On moves to cool property market
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578 1996-05-25 23 I REFER to Mr Tan Kian Fong’s letter “Why is Redas making allturn” (see this page). The statement of the Real Estate Developers’ Association of Singapore (Redas) (ST, April 26) quoted survey results to show that, out of a total of 6,508578 words
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Article249 1996-05-25 23 I REFER to the article “Redas hopes Government’s steps are temporary” (see page 3). It is interesting to note how Redas could, in less than three weeks, make a complete U-turn with regards to speculation in the property market. In his letter “Redas to249 words
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440 1996-05-25 23 THE Government’s move to stem speculative activities in the property market is a step in the right direction. This is because the activities of speculators impose an external cost on society by causing volatility in property prices and making Singapore an expensive place in440 words
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Page 23 Advertisements
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Advertisement189 1996-05-25 23 Home Delivery Weekly! A crisp summary of the week's major happenings in Singapore, the newspaper covers news from politics, to business, to investment opportunities and others. What's more, it also offers news on Malaysia and Asean. A convenient tabloid airmailed to you wherever you may be, once a week. So,189 words
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757 1996-05-25 24 Zuraidah Ibrahim - By Zuraidah Ibrahim AFTER two days of debate, both sides of the House opposition and PAP MPs found themselves in agreement on Wednesday that there was no impropriety over the property purchases by Senior Minister Lee Ruan Yew anti Deputy Prime Minister Lee757 words
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Article, Illustration1039 1996-05-25 24 Warren Fernandez - By Warren Fernandez SENIOR Minister Lee Kuan Yew on Wednesday broached three ideas to help young executives and professionals fulfil their dream of buying and owning private properties fiere. These included the Govern ment building •‘luxury executive condominiums", or selling landPicture taken off TV. - 1,039 words