The Straits Times : Weekly Overseas Edition, 17 January 1998
1998-01-17
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The Straits Times : Weekly Overseas Edition
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Title Section19 1998-01-17 1 The Straits Times WEEKLY EDITION SATURDAY, JANUARY 17. 1998 Price: 551.20 (in Singapore) Elsewhere by subscription only MITA(P) 047/08/9719 words
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909 1998-01-17 1 Tan Li Eng - Bad loans form small proportion By Tan Li Eng SINGAPORE’S banks are sound and in a strong position and there is no danger of a banking crisis erupting in Singapore, Deputy Prime Minister Lee Hsien Loong told Parliament on Wednesday. He disclosed that909 words
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Article, Illustration530 1998-01-17 1 David Miller - By David Miller A SINGAPORE-BASED drug syndicate, which operated in Asia and Australia, was busted in a series of raids which netted more than 3 kg of topgrade heroin with a street value of over $6 million. The gang’s mastermind andCentral Narcotics Bureau picture. - 530 words
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Page 1 Advertisements
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Advertisement6 1998-01-17 1 Suharto announces sweeping reforms: Page 24.6 words
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Advertisement9 1998-01-17 1 lanning a EER Move CHECK OUT Pages 21 229 words
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NEWS FOCUS
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Article, Illustration604 1998-01-17 2 People’s Action Party Convention In his address to some 1,000 activists at the People’s Action Party Convention on Sunday, Prime Minister Goh Chok Tong set out five broad goals and five tasks for the party, outlined four key lessons– Picture by LAU FOOK KONG. - 604 words
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Article461 1998-01-17 2 LINKING the upgrading programme to electoral support was the “single most important” factor in the vote swing to the People’s Action Party in the last General Election, said Prime Minister Goh Chok Tong on Sunday. Outlining four key lessons from the GE. he said:461 words
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740 1998-01-17 2 SILKAIR CRASH AFP. WASHINGTON Investigators probing the Silk Air crash in Indonesia last month are encountering difficulties reading the flight data recorder. Aviation Week reported on Monday. US and Indonesian investigators working here discovered that they were unable to retrieve ahv data for theAFP. - 740 words
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Article110 1998-01-17 2 IN OUR article headlined “Six fail in bid to gain from grandmother’s will” published on Jan 10, we said the late Chua Boon Unn had been a guarantor for Lamipak's debts. This is incorrect. His brother, Mr Chua Boon Peng, had been a guarantor. We110 words
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377 1998-01-17 3 Kao Chen - By Kao Chen COPYRIGHT owners will find it easier to tackle piracy problems under the Copyright (Amendment) Bill tabled in Parliament on Wednesday. The new Bill also brings Singapore one step closer to meeting World Trade Organisation requirements. Key changes include tighter border377 words
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Article, Illustration590 1998-01-17 3 Jasbir Singh - CLONED PAGERS USED BY ILLEGAL HORSE-BETTING RING TO ANNOUNCE RACE RESULTS By Jasbir Singh A PRIMARY school dropout is believed to have made more than $500,000 in less than two years by supplying cloned pagers to illegal horsebetting syndicates to broadcast race results.590 words
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Article, Illustration574 1998-01-17 3 TWO housing agents ganged up with a property buyer to cheat a condominium owner of almost $107,000 by not telling him about a better offer for his flat. The agents told the owner the best offer for his Caimhill Road apartment was574 words
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PARLIAMENT
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Article, Illustration486 1998-01-17 4 THE Main Upgrading Programme will be scaled down to 10 precincts this year, compared to last year's 15. said National Development'Minister Lim Hng Kiang in Parliament on Wednesday. Noting that the programme to upgrade HDB estates was funded out of Budget surpluses,486 words
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508 1998-01-17 4 Chua Lee Hoong - By Chua Lee Hoong THE Government is aware of the problems facing businessmen in the present economic downturn and will take them into consideration when drawing up this year's Budget. Labour Minister Lee Boon Yang said on Thursday. “We must help employers to508 words
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Article, Illustration650 1998-01-17 4 Ahmad Osman - NTUC sec-gen urges bosses to cut wage costs during downturn By Ahmad Osman EMPLOYERS should retrench workers only as a last resort and not cut back on staff numbers or training at the first sign of trouble in the economy,650 words
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456 1998-01-17 4 Suzhou Industrial Park update SINGAPORE is confident that problems over the Suzhou industrial township can be overcome and the project restored to a strong and even footing. Deputy Prime Minister Lee Hsien Loong said on Wednesday. He added that the joint venture company456 words
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Article, Illustration263 1998-01-17 5 Interest rate increases THE recent rise in interest rates was not expected to hurt the Singapore economy significantly, as both corporate and personal debt levels were quite low, Deputy Prime Minister Lee Hsien Loong said on Wednesday. He cited the263 words
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552 1998-01-17 5 Lim Swee Say proposes Tripartism 21 action committee NTUC Deputy Secretaiy-Gener-al Lim Swee* Say on Thursday called for urgent action to retrain unskilled workers here to prevent them from becoming unemployable as the economy moved up to higher-level indus tries. He told Parliament552 words
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Article275 1998-01-17 5 US$5 billion loan to Indonesia INDONESIA is a fellow member of Asean and a country with abundant natural resources, so the Government does not expect it to default on its US$5 billion loan from Singapore, Finance Minister Richard Hu said on Wednesday. He noted that275 words
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Article, Illustration771 1998-01-17 5 Labour MPs address labour concerns and reaffirm tripartism LABOUR MPs, led by Nominated MP Cyrille Tan, on Thursday raised several concerns of unions and workers, which were rising due to a changing economy in a new age of global competition. They also reaffirmed the tripartite framework771 words
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HOME
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Article, Illustration443 1998-01-17 6 Chang Ai-Lton - Just a thumbprint will do to get all you need on a prisoner By Chang Ai-Lton A SINGLE thumbprint scanned into the computer will reveal instantly a prisoner's background, his past crimes, the date of his release and a host of other vital information. This is443 words
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Article, Illustration717 1998-01-17 6 Elena Chong - Fined $15,000 on each of two charges By Elena Chong A BUSINESSMAN who was involved in a hit-and-run accident two years ago was fined a total of $30,000 last Friday after he was found guilty of graft. District Judge Jasvender Kaur convicted Terence Yap Giau717 words
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367 1998-01-17 6 BIRD flu is not present in Singapore, the Primary Production Department said on Monday, dismissing a Hongkong newspaper report that a strain of the virus had been found in poultry here. Ming Pao Daily News, in an article published on Monday,367 words
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Article, Illustration616 1998-01-17 7 S. Tsering Bhalla - Three of 4 resolutions raised not tabled By S. Tsering Bhalla IT WAS a small victory of sorts for some embattled committee members of Tanglin Club at a special general meeting on Sunday. Three out of four resolutions raised against the committee616 words
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Article359 1998-01-17 7 Karen Wong - By Karen Wong A WOMAN applied for credit cards in her husband's name without his knowledge, used his passport to collect the cards, then left him. He reported her to the bank and, about four months later, filed for divorce. She was arrested at the359 words
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Article, Illustration465 1998-01-17 8 THE Republic of Singapore Navy's move to Changi in two years' time will mean an end to operating in cramped conditions on Pulau Brani. The new naval base at Changi will be twice as large, have deeper waters andPictures by CHEW SENG KIM. - 465 words
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Page 6 Advertisements
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Advertisement191 1998-01-17 6 GAIN A STRATEGIC UNDERSTANDING k 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 from191 words
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Page 7 Advertisements
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Advertisement364 1998-01-17 7 The StmitsTimes WEEKLY EDITION The Straits Tunes V\ eekiy Fxiibon brings you a crisp summary ot the week's mgjor happenings in Smgapore and in the Asean region. Covering news from social issues, politics, business, career opportuiudes and otliers, we bring you closer to home wherever you may be, once a364 words
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Page 8 Miscellaneous
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Miscellaneous1129 1998-01-17 8 RADIO SINGAPORE INTERNATIONAL (ENGLISH) PROGRAMME SCHEDULES 1100 1400 Hours (GMT) 6015 KHz (49M BAND) 6055 KHz (49M BAND) MONDAY 1100 News 1109 Business Market Report 1115 Arts Arena 1130 News 1135 The Front Page 1138 E Z Beat 1145 Newsline 1200 News/Weather (Asia-Pacific) 1205 E Z Beat 1220 Business Market1,129 words
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SPORTS
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431 1998-01-17 9 AFP. COMMONWEALTH GAMES KUALA LUMPUR The Malaysian government has cut its budget for this year’s Commonwealth Games by five per cent to M 51.706 billion (SS64B million) under a nationwide austerity drive. Allocation for athletes’ preparations, opening and closing ceremonies, medical and dopingAFP. - 431 words
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Article, Illustration799 1998-01-17 9 Hong Yap Koon - Asia’s top soccer bureaucrat confirms offer of general secretary’s post by association’s key presidential hopefuls By Yap Koon Hong A SOUTH-EAST Asian is set to assume the second-most important soccer job in the world when Joao Havelange relinquishes the presidency799 words
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622 1998-01-17 9 Hakikat Rai - By Hakikat Rai SINGAPORE’S 30-strong squad of South-east Asia Games gold medallists pocketed $300,000 in cash during a special awards ceremony last Friday night. In the light of the economic crunch, most people would have settled for less. Instead, they were promised more. The Singapore622 words
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MALAYSIA
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Article, Illustration242 1998-01-17 10 Sound-bite When you beggar others, their problems will spill over into your country, and among the problems will be mass migrations to your country. We in Malaysia believe that if our neighbours are poorer than us, we will face this migrationTIEN CHUNG P'NG - 242 words
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450 1998-01-17 10 Brendan Pereira - Reports by Brendan Pereira in Kuala Lumpur MALAYSIA was bearing up well under the strain of the economic crisis, and a repeat of the 1969 racial riots was not on the cards. Prime Minister Datuk Seri Dr Mahathir Mohamad said on Monday. Therefore,450 words
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410 1998-01-17 10 including one that his son committed suicide KUALA LUMPUR Malaysians were taken to task by their Prime Minister for continuing to believe and spread rumours, the latest one being that his son had committed suicide. “I can’t understand this yearning to listen410 words
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218 1998-01-17 10 KLANG Three teachers, two from government secondary schools and the other from a private tuition centre, were charged on Tuesday under the Official Secrets Act in connection with the leaking of Sijil Pelajaran Malaysia (SPM) examination papers last year. SPM is equivalent to the218 words
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Article, Illustration380 1998-01-17 10 One in five accidents caused by drivers dozing off at the wheel KUALA LUMPUR More than 20 per cent of the 5,423 accidents on the North-South Expressway (NSE) last year were caused by drivers dozing off while driving. Works Minister Datuk Seri S. Sarny Vellu saidSun picture. - 380 words
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SOUTH-EAST ASIA
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430 1998-01-17 11 Derwin Pereira - Indonesian armed forces chief warns speculators By Derwin Pereira in Jakarta INDONESIAN armed forces (Abri) chief General Feisal Tanjung has warned that the military will crack down on food distributors hoarding goods and selling them at a higher price later. He said that430 words
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472 1998-01-17 11 Derwin Pereira - By Derwin Pereira in Jakarta US DEFENCE Secretary William Cohen on Wednesday maintained that American military presence in Asia was “critical" to maintaining its national interest. Mr Cohen, who is on a seven-nation tour of the region to underscore US defence commitments,472 words
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192 1998-01-17 11 Reuters. JAKARTA Indonesia’s ruling Golkar party said on Tuesday it would nominate President Suharto to run for a seventh term in office during presidential election in March. Said its chairman Harmoko: “Officially and after re-checking, Golkar Euts forward the nameReuters. - 192 words
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Article, Illustration57 1998-01-17 11 FILIPINO entertainers waiting for their turn to audition in the hope of securing an overseas working permit at the Philippine Overseas Employment Agency office in Manila on Wednesday. If successful, they will join 6.5 million other Filipinos who work abroad, mostly as domesticReuters picture. - 57 words
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288 1998-01-17 11 AFP. BANGKOK The Thai government has claimed the support of teachers for a proposed to introduce mandatory drug testing of high-school students, reports said on Tuesday. Prime Minister’s Office Minister Jurin Laksanavisit said some schools had invited policeAFP. - 288 words
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COMMENT / Pick of the week’s editorials
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Article641 1998-01-17 12 JANUARY 17.1996 TO ADAPT one of history's more ringing phrases, Indonesia might yet save itself by its efforts ana the region by its example if Thursday's package of measures is pushed through to its logical conclusion. The “if' is suggested by the market's immediate response:641 words
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Article704 1998-01-17 12 JANUARY 16 1998 IT WAS a storm in a teacup with, to mix metaphors, everyone making a mountain out of a molehill. Of course, it is heartening in one sense that people should become so excited about primary school admission, albeit in 2000. It indicates704 words
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Article645 1998-01-17 12 JANUARY 13 1998 IF THERE is one truism which is as old as the independence of Singapore, it is that the resources of this city-state are overwhelmingly human. That is to say. the country exhibits an overwhelming absence of natural and other resources, and so has645 words
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Article, Illustration893 1998-01-17 12 Bob Ng - By Bob Ng IT IS becoming a serious problem, the growing perception among Straits Times readers that the newspaper is a purveyor of baa news. One of the most common complaints I get these days when I meet friends and business893 words
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COMMENT/ANALYSIS
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Article, Illustration1136 1998-01-17 13 Koh Buck Song - By Koh Buck Song AS THOUSANDS of students and teachers in more than 70 schools started to get to know their new principals last week, one question intrigued me. Is it so easy to adjust to a new principal? Could it be1,136 words
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1110 1998-01-17 13 Tan Sai Siong - By Tan Sai Siong AM I GLAD to see Professor Tommv Koh, Singapore’s am-bassador-at-large, wax indignant over the fact that Singaporeans “have become a very wasteful society, in respect to the use of energy, water and the consumption of food”. Am I glad. too.1,110 words
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INSIGHT
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Article, Illustration1271 1998-01-17 14 After the crises and tragic events of 1997, all indications are that the 12 months ahead will be sobering ones. Undaunted, Insight compiles an A-Z of developments and predictions to (fingers crossed) bring some cheer. A ART goes annual: The Arts Festival moves1,271 words
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Article, Illustration1214 1998-01-17 15 Using the new Community Development Council national helpline is as easy as 1234. But what about those put off by it because they think it is part of the PAP machinery? Jason Leow speaks to Parliamentary Secretary (Prime Minister’s Office and Communitycommunity. Picture by WONG POK SEE. - 1,214 words
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Article, Illustration1204 1998-01-17 15 Chua Lee Hoong - Thinking Aloud Chua Lee Hoong WHOEVER coined the term meltdown to de scribe the troubles facing the Asian economies got it spot on. Not merely because the term denotes how a relatively modest problem can lead to a major di saster. as director1,204 words
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MONEY
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425 1998-01-17 16 to 1,245.26. CHAN WEE CHUAN - Weekly market review to 1,245.26. CHAN WEE CHUAN. THE Singapore stock market threatened to topple into an abyss but pulled back to firmer ground after a volatile trading week. Following last week’s 23 per cent plunge, the market opened on a panicky note425 words
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Article80 1998-01-17 16 ST Industrials Index The Straits Times Industrials Index rose 68.91 points on the week to 1245.26. DAY Monday Tuesday Wednesday Thursday Friday CLOSE 1073.47 —102.88) 1156.52 83.05) 1243.27 (+86.75) 1233 36 9.91) 1245.26 (+11.90) TURNOVER 252.633 ($570.405m) 316.784 ($577.81 lm) 529.885 ($796.153m) 281.947 ($523.319m) 243.390 ($452.012m) BT80 words
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Article1707 1998-01-17 16 Company Data ann Net earn TV LV (Sm) ($m) EPS TV UV lets) (cts) AMDS’ Nov 29 16.427 55.718 2.81 9.55 AS Auto Nov 6 1 7.240 4.895 6.54 5.44 Alexandra HidqiDec 15 1 4.039L 0.8847 13L 295 Alliance Tech Oct 2 1 5.432L 3.391L Asia Pac Ld*1,707 words
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Article208 1998-01-17 16 RIGHTS ISSUE ExBooks Company Ratio date close Casyknit Threa for TwoG’HKKX Dec 31 Jan 7 NYA bonus issue ExBaoks Company Ratio data dose Datapulse Ona-for-two Jan 13 Jan 19 NYA Hup Sang Huat One-for-five Feb 2 Feb 9 Feb 19 OTHCR5 ExBooks Acc 6 Company Ratio data dose208 words
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Article74 1998-01-17 16 Company Rights Itsue AISB Inno-Pac PMI Three-for-five M$5.50 One-tor-one <J> $0.30 Three-tor-two <*> M$1.00 Company Bonus Issue M Royal Two-for-three Kamayan Corp One-tor-three Lum Chang One-tor-tive PMI One-tor-tour Company Others Inno-Pae Proposed issue of one wrt for every four ordinary shares. Keppel Corp Proposed issue ot up to74 words
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Article86 1998-01-17 16 Oatacraft C 6 Shenton Way #24-11 DBS Bldg Twr2 (*****9) Jan 15 9.00am Uraco A 25 Serangoon North Avenue 5 (*****4) Jan 15 3.00pm irs E The Board Room 7 Temesek Boulevard #10-01 Suntec Tower 1 Jan 23 11.00am Hup Seng Huat A 365A Jalan Besar (*****5) Jan86 words
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Article945 1998-01-17 16 Payment <%> Es date Books dose Pay date AV Jennings 25C 1 5.4 Jan 2 Jan 8 Jan 22 AMDS Ln T S.S Dec 5 Dec 12 Dec 31 Amsteel Corp 50C b 10 Oec 23 Dec 30 Jan 19 Anteh Hldg 50C b 6TE Dec 22 Oec945 words
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733 1998-01-17 17 JeanChia - By JeanChia MORE than half the companies listed on the Stock Exchange of Singapore (SES) are still trading below their net asset values despite the sharp market recov ery, making them possibly good buys for investors. About 178 out of 299 listed733 words
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Article176 1998-01-17 17 COUNTER RATES Singapore dollars to one unit of foreign currency Buying OD Selling US dollar ***** 1.7820 Sterling pound 2 8149 2 9160 Australian dollar 1 1220 1 1719 Canadian dollar 1.2031 1.2443 NZ dollar 0 9937 1.0402 EC unit 1.9314 Singapore dollars to 100 units of foreign currency176 words
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464 1998-01-17 17 Tammy Tan - By Tammy Tan CHARTERED Semiconductor Manufacturing (CSM) and USbased Lucent Technologies will invest US$l billion (Ssl.7 billion) over the next two years to make semiconductors here. The new venture, Silicon Manufacturing Partners Pte Ltd, will manufacture a variety of464 words
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Article117 1998-01-17 17 Contract date: January 16, 1998 UNIT ONE MTH 3 MTH 6 MTH 9 MTH 12 MTH CALL VALUE DATE uss 5 5 5 5 5 47,, 20/1/98 AS 4‘. 4. 43. 4 47, 3 20/1 -98 NZS 7% V, 7’. 7'7, 7'. 77,, 21.198 STG 6% 6%117 words
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Article431 1998-01-17 17 January 16,1998 HKS ASM Pacific 435 unch Allied Ind Int i 054 Asia Sec Inf 0 46 ♦001 Bank of EA +0.35 C.P Pokphand 1 Of -0 05 COL Hotel 2 25 Cafe De Coral 133 unch Century City 1 14 unch Cheung Kong 38 20 1.30 China Light431 words
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Article544 1998-01-17 17 Mars' Prices. January 17 Ab*rd**n Asset Mgt Am Ltd APerdeenSporeG'Fund AIBGovett(Asis)Ltd 0812-0 854" Govdtt Asa Pacific G'owtn Fc 0 837-0879« Ocvtn Gmpa 1 B'ands fa Ammcir Inti Assu’ •044-1097« AiA 'Jmt linked fa 0 741—C 781» Ai A Reg*ona, Equity c d 0949-0 999» A a Beoicna r544 words
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Article9032 1998-01-17 18 INDUSTRIAL AND COMMERCIAL Transaction Date: January 16.1998 I 1997 98 Curr Last Vol Day GTs Net M Cap Wt Avg High LOW Company Traded Sale ♦or000 High LOW Div P/E *mil Price 157 185 e ACE Dyr>amics60c 22 13 22 21 180 20 ASE NTS 10 2009,032 words
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Article705 1998-01-17 20 Tan Li Eng - By Tan Li Eng THE proposed merger of Keppel Bank and Tat Lee Bank will create Singapore’s fifth largest local bank in what is expected to be the first of more such marriages in the banking sector. The new entity would have total assets705 words
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606 1998-01-17 20 LISTED Keppel Finance and Tat Lee Finance will be paired off to become the industry’s second largest, following the completion of their parent banks' merger in five to six months' time, said a Keppel Group spokesman on Tuesday. Keppel606 words
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682 1998-01-17 20 Narendra Aggarwal - Growth in the non-oil domestic exports to US and EU remains healthy By Narendra Aggarwal THE Trade Development Board is redoubling its efforts to open new markets for exports, even though tne regional crisis has not yet caused any noticeable change in682 words
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Page 21 Advertisements
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Advertisement934 1998-01-17 21 The Institute would like to invite suitably qualified applicants for the positions of: A na mer ilyst Program Responsibilities: The incumbent will report to department head, Information Systems. He/She will assist in systems development, system maintenance and support. In addition, he/she will have to liaise with vendors/suppliers as well as934 words
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Page 22 Advertisements
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Advertisement1035 1998-01-17 22 f I I 'ITT rrt li 4 r The Civil Aviation Authority of Singapore is the body that manages Changi Airport, the world's best airport. CAAS is gearing up to seize the opportunities and meet the air transport challenges of the 21st Century. If you are as excited as we1,035 words
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FORUM
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928 1998-01-17 23 Economic recovery will be uncertain without immediate reforms Regional currency crisis I REFER to the interview with Professor Jeffrey Sachs published in The Sunday Review (The Sunday Times, Jan 11). Dr Sachs says that countries should not follow IMF-prescribed austerity measures like928 words
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Article, Illustration598 1998-01-17 23 I REFER to Chang Nam Yuen’s letter “Do not prevent consumers from self-medicat-ing; let them have a choice” (ST, Jan 2). She made several references to the US. In the US, many people seem to have no choice but to have598 words
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334 1998-01-17 23 PERHAPS it is time to change the pledge our children take every day to “We, the citizens of Singapore, pledge ourselves as one united people, regardless of race, language, religion or PARENTS to build a democratic society based on JUSTICE334 words
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Article149 1998-01-17 23 WOULD the Ministry of Education please explain the rationale for giving priority in the Primary 1 registration to children of alumni association members and parent volunteers over children of those whose parents have no ties to the school. If perks are given to volunteers just149 words
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Article, Illustration910 1998-01-17 24 Susan Sim - By Susan Sim Indonesia Correspondent JAKARTA President Suharto on Thursday sought to restore confidence to his beleaguered country in one bold stroke by announcing sweeping reforms that spared not even the politically well-connected. The reforms, struck in a new deal with the International Monetary Fund (IMF),– AFP picture. - 910 words
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727 1998-01-17 24 Pang Gek Choo - Region’s currency turmoil a systemic problem, he says By Pang Gek Choo PRIME Minister Goh Chok Tong on Sunday made a renewed call to the United States, Japan and Europe to rescue the region’s troubled economies caught in a currency turmoil727 words