The Straits Times : Weekly Overseas Edition, 22 January 1994
1994-01-22
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The Straits Times : Weekly Overseas Edition
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Title Section20 1994-01-22 1 The Staits Times WEEKLY EDITION SATURDAY, JANUARY 22, 1994 Price: 551.20 (in Singapore) Elsewhere by subscription only MITA (P) 002/08/9320 words
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Article, Illustration883 1994-01-22 1 Amount to be increased gradually over 10 years THE CPF minimum sum that Singaporeans must set aside for retirement needs will be raised gradually over 10 vears from $34,600 to $BO,OOO. In addition, they will no longer be able to just pledge883 words
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253 1994-01-22 1 PRIME Minister Goh Chok Tong leaves for India tomorrow on an official visit that will open a new chapter in Singapore-India ties. The visit, his first as Prime Minister, is at the invitation of his Indian counterpart, Mr Narasimha Rao, a253 words
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Article, Illustration186 1994-01-22 1 MR PATRICK NGIAM, the chairman and chief executive officer of IPC Corporation, walked away last Friday with the 1993 Businessman of the Year Award, which is given annually to those who have made a big impact on the local business scene. Mr186 words
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138 1994-01-22 1 Let’s face it, Old Guard heavyweight ministers like Lim Kim San, Eddie Barker or Hon Sui Sen, would they come out to serve Singapore today if they were in their 40s? They came out because Singapore was sliding into disaster. Those were138 words
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Page 1 Advertisements
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Advertisement9 1994-01-22 1 Planning a CAREER Move CHECK OUT Pages 21 229 words
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NEWS FOCUS
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492 1994-01-22 2 CPF Board acts to protect members FROM next month, the Central Provident Fund Board will introduce two new measures to help members transfer their uninvested CPF funds left with agent banks back into their CPF accounts. The board on Tueday also492 words
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Article, Illustration346 1994-01-22 2 ALL 2,000 membership forms for the Singapore Recreation Club (SRC) had run out by Tuesday morning, the first day of the club’s membership drive, and still the people kept on coming. Applications closed at 1 pm, but an angry group of over 50346 words
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549 1994-01-22 2 PRICES of certificates of entitlement (COE) for three categories of cars below 2,000 cc have eased after a steep climb since early last year. The average drop in the latest COE prices for 1 these cars is $3,815. But prices for luxury,549 words
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Article, Illustration224 1994-01-22 2 A PROPERTY broker who used his car key to scratch a new red BMW admitted in court on Wednesday that he did it out of jealousy. Jen Shek Ming. 45, told magistrate Billy Low that he “just lost his head” when224 words
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602 1994-01-22 3 Understanding Accommodation Learning from others SINGAPOREANS could manage inter-communal relations successfully if they met three conditions mutual understanding, mutual accommodation and mutual learning, Brig-adier-General (NS) George Yeo said last Saturday. This was the bottom-up management of inter-com-munal ties that would require the602 words
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Article, Illustration180 1994-01-22 3 FLIGHT stewardess R. Malini, 22, won the Miss Singapore 1994 Pageant at Orchard Hotel ballroom last Friday night. She was crowned Miss Singapore Intercontinental '94 and will go to Dusseldorf in Germany to compete for the Miss Intercontinental '94 title. How will her victory180 words
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328 1994-01-22 3 Phua Kok Kim - California quake By Phua Kok Kim THE Los Angeles offices of several Singapore banks and key statutory boards have escaped largely unscathed after the latest earthquake to hit the area. Two computer companies contacted by The Straits Times also said the impact on328 words
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612 1994-01-22 3 HOME Affairs Minister Wong Kan Seng yesterday refuted suggestions made by regional press commentators that South-east Asian Chinese were investing in China mainly because of their ethnic ties. While it was true that they had an advantage doing612 words
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HOME
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482 1994-01-22 6 THE arts group which organised an event at which one man snipped off his pubic hair and another vomited in public will not be allowed to stage any more "performance art” events without a script. The Government made clear its disapproval in482 words
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591 1994-01-22 6 SINGAPOREANS should (raise the Government or its achievements and be equally critical if they disagree with its policies, said Mr David Marshall last night. The 86-year-old former chief minister and diplomat said that he was in awe of the development which had591 words
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388 1994-01-22 6 NTUC leaders and employees will receive a pay rise, averaging 8.1 per cent, from Jan 1, their union said on Wednesday. The increase for about 260 members of the Staff Union of NTUC, (SUN) whose salaries are pegged to those in the388 words
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Article, Illustration270 1994-01-22 6 MADAM Chen Ruiyue, 74, hardly left the dance floor at the World Trade Centre’s Harbour Pavilion last Saturday afternoon. She was on her feet for at least one-and-a-half hours during the eighthour “danceathon" for 1,000 folk dance enthusiasts. “Folk dancing keeps me270 words
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Article, Illustration583 1994-01-22 7 Derwin Pereira - By Derwin Pereira THE trend of younger Malaysian and Singaporean leaders meeting each other is good for relations between the two countries and should be encouraged, the visiting Deputy Chief Minister of Penang, Datuk Dr Ibrahim Saad, said on Monday. Describing his relationship with583 words
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109 1994-01-22 7 A CONTRADICTION in terms but it works. That was how Penang’s Deputy Chief Minister, Datuk Dr Ihrahim Saad, described Singapore’s Urban Redevelopment Authority (l RA). It stands for urban development, but also for national conservation, he said. And it had succeeded in striking a109 words
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Article139 1994-01-22 7 NEW $5O notes, which were released last Friday by the Board of Commissioners of Currency, look a darker shade of blue than usual. The darker blue of the notes comes from the iron oxide in the magnetic ink used to print the new notes.139 words
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269 1994-01-22 7 THE National Arts Council is giving more money this year to help pay for the air tickets of arts groups and artists when they go abroad. Announcing this year’s grants last Friday, the chairman of the council's arts development committee, Associate-Professor Bernard Tan, said269 words
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Article, Illustration470 1994-01-22 8 Rav Dhaliwal - STPB project to develop and link southern islands into marina village By Rav Dhaliwal THERE will be a touch of Southern France in Singapore's southern islands if they are linked and developed into a marine village. Almost 1,200 houses and apartments will line waterways470 words
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Article, Illustration431 1994-01-22 8 Yeo Hwee Yng - By Yeo Hwee Yng PET owners here can now send their pets directly by air from Singapore to New Zealand. In the past, a pet had to be quarantined in Hawaii for four months or in the United Kingdom for six months431 words
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419 1994-01-22 8 Brendan Pereira - By Brendan Pereira SHOES are a size bigger, desks are higher and uniforms are larger all because students today are taller and heavier than 10 years ago. A survey of 30,000 primary, secondary and junior college students in419 words
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Page 7 Advertisements
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Advertisement91 1994-01-22 7 Akan Datang! COME HOME TO SEE BROADWAY S MOST SENSATIONAL MUSICAL' Les Miserables opens on February 3 at the Kallang Theatre .This is the full Broadway/West End $8 million production, with its enormous sets and sensational staging. Les Miserables will not be touring Asia, playing only in Singapore for a91 words
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SPORTSFRONT
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Article, Illustration407 1994-01-22 9 Joe Dorai - Ang to step down and move up Lions GM set to leave post and take up No. 2 spot in FAS SOCCER By Joe Dorai PATRICK ANG will step down as general manager (teams) of the Lions but is expected to move up to the No. 2 slot in the407 words
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Article, Illustration512 1994-01-22 9 Peter Khoo - By Peter Khoo IN A shocking move. Czech attacking midfielder Michal Vana was on Monday named as Singapore’s third foreign signing for April's Malaysian Premier League. The Football Association of Singapore announced that Vana, who was turned down by new national512 words
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Article, Illustration497 1994-01-22 9 Shirlynn Ho - Championship form makes it title No. 4 Asian Squash Championship in Kuala Lumpur By Shirlynn Ho IN THE end. the battle turned out to be somewhat of an anti-climax as Singapore’s Mah Li Lian produced her best squash so far to win her fourth Asian championship title.497 words
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Article, Illustration407 1994-01-22 9 Thomas Koh - Korean ends Singapore shuttler’s impressive run in Taiwan Open semis By Thomas Koh IT HAPPENED in Kuching and it happened again in Taipei last Saturday night Zarinah Abdullah, Singapore's brightest hope in badminton. was just one win away from becoming the first Singaporean shuttler to407 words
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MALAYSIA
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437 1994-01-22 10 Bernama. KUALA LUMPUR Datuk Seri Dr Mahathir Mohamad said on Wednesday that the government would study various aspects of corruption prevention laws, including identifying possible weaknesses in the present system. The government viewed corruption as a serious matter, the Malaysian PrimeBernama. - 437 words
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302 1994-01-22 10 Bernama. LANGKAWI Lord President Tun Abdul Hamid Omar has said that he would propose the setting up of a law-reform commission to help the government update obsolete laws. "As an independent country, it is time that a commission be formed to conductBernama. - 302 words
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Article, Illustration527 1994-01-22 10 Kaiimuliah; Hattan - By Kaiimuliah Hattan KOTA KINABALU Sabah Chief Minister Datuk Joseph Pairin Kitingan was convicted on corruption charges on Monday but walked out of court a free man and will be able to contest next month's state elections. HighReuter picture. - 527 words
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470 1994-01-22 10 Ismail Kassim - By Ismail Kassim KUALA LUMPUR Eighteen bodies behind the Third Malay Intellectuals Congress on Wednesday unanimously approved a memorandum to protest against the Cabinet decision to allow universities to teach science and technology subjects in English. The 10-point memorandum. which will outline470 words
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Article, Illustration362 1994-01-22 10 them. — By Kalimnllah Hassan - By them. By Kalimnllah Hassan. KOTA KINABALU Sabah Affairs Minister Tun Datu Mustapha Harun in a shock decision on Wednesday quit his federal Cabinet post and resigned as an Umno member. His resignation severely the already dim hopes of Prime Minister Datuk Seri362 words
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ASEAN
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Article386 1994-01-22 11 Regional journalists urged to counter biased reporting on developing nations Reuter AFP JAKARTA Indonesian President Suharto on Monday accused Western media of biased reporting on developing nations and called on regional journalists to counter it. “It is often that news entering Asean and other developing countriesReuter; AFP - 386 words
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Article, Illustration264 1994-01-22 11 Ramos advises against ‘extravagant’ show AFP. MANILA A planned 25,000-peso-a-seat (5J1.428) concert here by Italian tenor Luciano Pavarotti was described as “extravagant" by President Fidel Ramos, who advised Philippine officials against attending it. The March 18 concert, to coincide with General Ramos’ 66th birthday, raised eyebrows becauseAFP. - 264 words
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447 1994-01-22 11 Rafidah calls for faster tariff cuts on more products in Asean AFP, Reuter. MANILA Malaysian Trade Minister Datuk Seri Rafidah Aziz on Tuesday called for speedier tariff cuts on more products in Asean, saying a free-trade area was attainable in less than 15AFP,; Reuter. - 447 words
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260 1994-01-22 11 Bernama. JAKARTA Malaysia and Indonesia have reached agreement on the need for a better defined framewerk ef ee-operatlen under the Beuthern Grewth Triangle invelvlng Johor, Singapore and Riau. Johor Mentrl Besar Tan Brl Muhylddln Yassin said here last FridayBernama. - 260 words
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498 1994-01-22 11 Paul Jacob - By Paul Jacob Jakarta Correspondent JAKARTA The head of the National Atomic Energy Agency, quoting President Suharto, on Thursday said future generations of Indonesians would need to rely on the benefits of nuclear energy. Mr Djali Ahimsa told reporters after meeting the498 words
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COMMENT/ Pick of the week’s editorials
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Article657 1994-01-22 12 vAN JARY 22. *994 DATUK Anwar Ibrahim, Malaysia's new Deputy Prime Minister, is noted for his plain, unadorned speech He is a straight shooter. Asked about his comfort level with Singapore leaders and how his visit this week had gone, he said relations were excellent. He657 words
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Article655 1994-01-22 12 JANUARY ’B. *994 THE pleas of small, first-time sharemarket investors, long ignored by stockbrokers, have been heeded by the Stock Exchange of Singapore It is to open the 133 sales centres at banks and broking offices for dealing in scripless shares from March, aftei the655 words
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Article680 1994-01-22 12 JANUARY 17. 1994 HOW to guarantee retirees an adequate fixed income after age 60 continues to draw novel suggestions from time to time. As the CPF minimum sum requirement stands, the amount is $34,600, from which account holders can draw $266 a month from age680 words
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Article898 1994-01-22 12 Sumiko Tan - Viewpoint B» Sumiko Tan A FRIEND who had made a tidy bundle in the stockmarket remarked to me recently: “The rich will become richer That's the way it is He was not being smug or flippant. He was merely stating a fact He had put898 words
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PARLIAMENT
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Article, Illustration2574 1994-01-22 13 Senior Minister Lee Kuan Yew addressed Parliament last Friday for the first time since March 1991 to talk about an issue which is critical to Singapore’s continued prosperity: Getting the brightest and the best in the land to become political2,574 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, Illustration2114 1994-01-22 14 ■ Additional reporting by Chung Tsung Mien, Disa Sim; Ann Sim - Additional reporting by Chung Tsung Mien, Disa Sim and Ann Sim. Ten years have passed since a study on the greying of Singapore resulted in the Howe Yoon Chong report. In 1991, the then Acting Minister for Community Development Dr Seet Ai Mee2,114 words
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OFF-THERECORD
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Article129 1994-01-22 15 PUBLIC speaking, daunting as it must he to many, does offer compensation of sorts. Listen to this explanation from a former Thai official about why he was delighted to accept an invitation from the Singapore Tourist Promotion Board to speak at the recent Asean Tourism129 words
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273 1994-01-22 15 THE arcane world of foreign affairs and diplomacy, with a language all its own, takes some getting used to even for civil servants accustomed to dealing with, weighty affairs of state. So it was for the personal assistant to Professor S. Jayakumar, when the professor273 words
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Article122 1994-01-22 15 STILL on praying and all that. Mr Lim Hng Kiang, newly-appointed Senior Minister of State for Foreign Affairs, recounted at the same tea party what he had been advised to take along with him to his new job. First, he should get a new122 words
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Article88 1994-01-22 15 MP LOH Meng See’s wish, expressed in Parliament last Thursday, for a debate on whether the Government should change the law to oblige people to look after their parents, may well come true soon. Nominated MP Walter Woon already has a draft Bill in hand.88 words
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Article, Illustration1249 1994-01-22 15 Leslie Fong - THINKING ALOUD Leslie Fong HAVE you ever given serious thought to what you should expect of opposition candidates who seek your vote? Or are you so fed up or disillusioned with the People’s Action Party government you just couldn't care less? If1,249 words
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MONEY
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Article6555 1994-01-22 16 INDUSTRIAL AND COMMERCIAL Transaction Date: January 21. 1994 1993/94 Curr Last Vol Day Gr’s Net M Cap High Low Company Traded Sale 0f- 000 High Low Oiv V» P/E Smil 1440 260 t Acma 1300 unch 165 1300 1280 12 5 56.3 8960 740 220 1 s6,555 words
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331 1994-01-22 17 SHARE prices in Singapore moved erratically in thin volumes throughout the week, hurt by trading restrictions imposed by many broking firms on both sides of the Causeway. Malaysian shares on Clob International were hit particularly hard, especially on Wednesday after a senior Kuala Lumpur331 words
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Article102 1994-01-22 17 ST Industrials Index The Straits Times Industrials Index dropped 21.13 points on the week to 2281.73. DAY Monday Tuesday Wednesday Thursday Friday CLOSE 2277 04 (—25.82) 2280 41 3 37) 2303 30 22 89) 2259 28 (-44.02) 2281 73 22 45) TURNOVER 267 66m ($718 512m) 208.18m102 words
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103 1994-01-22 18 STRONG buying of motor vehicles boosted overall retail sales to $1.62 billion in November last year. The November retail sales index finished 0.5 per cent higher than in October, and 8.8 per cent higher on a year-on-year basis. Excluding motor vehicle sales, the103 words
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Article, Illustration432 1994-01-22 18 THE Government has called on the various chambers of commerce to consider forming a confederation for all companies in the service and commerce sectors. Speaking at the Singapore Business Awards 1993 presentation last Friday night, Home Affairs Minister Wong Kan Seng said432 words
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3073 1994-01-22 18 CORPORATE RESULTS Net Earn UPS Dale IV IV IV 1 V mnpans ann Ckm) tSml lets» (ctM Aetna Sep 10 i |9 517 bin* 28 4 7 MSB* <Xt 2* I* 2 095 0 334 204 o 3 Alliance Tech Sep JO i 0 49OL 03,073 words
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285 1994-01-22 18 MALAYSIA will consider a proposal by Singapore's Economic Development Board to invest jointly in other countries, visiting Penang Deputy Chief Minister, Datuk Dr Ibrahim Saad, said on Monday. Describing the suggestion as being “very sound”, he said that he would raise the proposal285 words
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183 1994-01-22 18 BEIJING Singapore was China’s eighth largest trading partner last year, according to a Reuters report quoting the Xinhua news agency on Monday. It did not cite any trade figures, but Singapore’s latest trade statistics showed that total bilateral trade reached $6.3 billion for the183 words
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309 1994-01-22 19 NEWSPAPERS have widened their lead over almost all rival Singapore media, increasing their market share of advertising dollars from 50.8 per cent in 1992 to 52.6 per cent last year. Latest figures compiled by Survey Research Singapore Adex show309 words
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Article532 1994-01-22 19 Friday January 11 MKI ASM Pacific 3 08 Allied ind Int'l 1.00 unch Allied Oversea 1.2t 001 Amoy Properties 12.70 unch Asia Sec Int 2 10 0 05 Bank of EA 55 00 1 50 C P Pokphand 320 0.03 CDL Hotel 3 20 Cafe Oe Coral 4 22532 words
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Article, Illustration503 1994-01-22 19 MORE local companies are expected to invest overseas this year compared to last year, according to the Economic Development Board’s International Business Division which helps with the regional isat ion drive. Last year, the division helped more than 150 overseasTlmtiffiphlci - 503 words
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Article, Illustration389 1994-01-22 19 THE ship repair industry is expected to fare better this year, with the ship repair market likely to improve by the second half, said a top Keppel official on Tuesday Mr Loh Wing Slew, managing director of Keppel Corporation, who said this,389 words
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Article175 1994-01-22 19 COUNTER RATES Singapore dollar* to on* unit of foreign currency Buymt 00 Seihtf US dollar 1 5973 ***** Sterling pound 2 3731 2 4289 Australian dollar 1.1091 1.1418 Canadiar dollar l 2089 1.2370 NZ dollar 0 8890 0 9194 EC unit ***** Singapore dollar* to 100 of175 words
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188 1994-01-22 19 SINGAPORE Telecom may soon become the proud owner of a Swedish cable television group. Announcing this in a statement to the Stock Exchange of Singapore on Tuesday, Telecom said It was holding exclusive talks with the City Council of Stockholm In Sweden about188 words
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Article132 1994-01-22 19 Contract data: 21/1/94 CURRENCY 1 MTH 3 MTH 6MTH 9 MTH 12 MTH CAU VALUE DATE uss 2 -t 2 v 2'. 2 s 2S 2 25/194 AJ 3% 3 J 4 r* 3 3 7 4 2'* 25 1 94 NZS 3 3 i 3 Mr 3 V132 words
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Article299 1994-01-22 19 Manager’s prices for Jan 22 24 Singapore Unit Trust The Commerce 176—1 85 The Savings Fund 1.65—1.73 S pore Prog Fund 0 73—0 77 S pore Sec Fund 1.07— 112 S pore Invest Fund 1.28— 1 34 S pore Equity Fund 0 84—0 88 Credit Lyonnais Int’l Asset299 words
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Article, Illustration620 1994-01-22 20 Despite severe correction, ST Index will finish 1994 higher, say equity experts Outlook for the Singapore and Malaysian stock markets THE Straits Times Industrials Index will finish 1994 higher than its present level. but investors should be more cautious about what stocks to620 words
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362 1994-01-22 20 TWELVE key retailers featured in the latest issue of The Retailer have all predicted a difficult year ahead, pointing to factors like the full-day area licensing scheme (ALS) and the Goods and Services Tax (GST) as some of the main battles they must362 words
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439 1994-01-22 20 SINGAPORE has achieved a key research and development manpower target three years ahead of schedule, a new National Science and Technology Board (NSTB) survey has shown. But as part of continuing efforts to support industry R&D manpower needs, the NSTB will conduct439 words
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589 1994-01-22 20 It is starting with a big Upper Changi residential project MALAYAN Credit Ltd (MCL) plans to use the proceeds from its recent Ardmore Park sale to move into the landed property sector in a big way. It is starting with a massive 35,000589 words
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Page 21 Advertisements
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Advertisement211 1994-01-22 21 Unlimited Career Potential. Limited Vacancies. y l -:.p m 'iff* 4 s fc-cS £i« R Imagine the knowledge, skills and experiences you could gain from being involved in shaping a nation's economy. And the broadening of horizons, both personal and professional, attained through work which has a strong international bias.211 words
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Page 22 Advertisements
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Advertisement766 1994-01-22 22 The Straits Times Weeklv Edition llllllllllli mm mm SINGAPORE LEGAL SERVICE ri mc*Sj Applications are invited for Legal Officer appointments in the Singapore Legal Service. The Singapore Legal Service offers you the opportunity to serve on the Bench as District Judges, Magistrates or Coroners; in the Attorney-General’s Chambers as State766 words
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FORUM
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490 1994-01-22 23 On CPF Investment Accounts THE present CPF Investment Scheme requires investors to invest their CPF money in shares through agent banks. When the shares are sold subsequently, present guidelines allow the bank to retain the proceeds for six months instead of transferring490 words
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256 1994-01-22 23 GOVERNMENT REPLY I REFER to the letter, "Stop hank from holding CPF money too long” by Ms Julie Goh (above). The writer is correct in saying that the agent banks do not pay the same Interest rate as the CPF Board on funds in the256 words
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450 1994-01-22 23 I REFER to Mr Lim Boon Hee’s letter “SES needs to solve investors' problems fast (ST, Jan 13), and would like to clarify some of the points he raiwd with regard to local banks. With their experience in providing services to customers in450 words
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Article98 1994-01-22 23 CURBS by brokerage houses on share purchases by investors using CPF funds are of great concern to all small investors. These curbs run contrary to the stated Government policy of encouraging share ownership. Brokerage houses should be made to accept CPF investments since these investments98 words
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Page 23 Advertisements
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Advertisement155 1994-01-22 23 HOME. DEUVERED WEEKLY The Straits Times Weekly Edition. A crisp summary of happenings in Singapore. Politics, the economy, investment opportunities, appointments... And snippets on Malaysia and Asean. A convenient tabloid delivered to you every week, whereever you may be. Subscribe now. And be in touch. 5* •a* eft (OS VC155 words
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Article, Illustration678 1994-01-22 24 Derwin Pereira - They will help to strengthen relations: Anwar By Derwin Pereira SINGAPORE and Malaysia will encourage their private sectors to invest jointly in third countries as a means of strengthening the bond between the two nations, visiting Malaysian Deputy Prime Minister Datuk Seri AnwarPicture by WONG KWAI CHOW. - 678 words
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324 1994-01-22 24 MALAYSIA’S Securities Commission and the Kuala Lumpur Stock Exchange (KLSE) are looking into suspected shares manipulation, Malaysia’s Deputy Prime Minister Anwar Ibrahim said on Thursday. Datuk Seri Anwar told a news conference that the two agencies had been instructed to monitor market activities, adding:324 words
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494 1994-01-22 24 Chiang; Yin Pheng - Green light if there’s demand, says Hng Kiang By Chiang Yin Pheng THE Housing Board will consider allowing homeowners to take up reverse mortgages on their flats to meet living costs in their twilight years. If there is a demand, the Government will494 words
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Article, Illustration121 1994-01-22 24 A reverse mortgage means borrowing money against the value of the flat, say $4OO to $5OO a month, or $60,000 over 10 years. The homeowner receives the monthly loans based on the value of his flat. The mortgage may be in the form of a121 words