The Straits Times : Weekly Overseas Edition, 21 February 1998
1998-02-21
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The Straits Times : Weekly Overseas Edition
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Title Section19 1998-02-21 1 The Straits Times WEEKLY EDITION SATURDAY, FEBRUARY 21, 1998 Price: 551.20 (in Singapore) Elsewhere by subscription only MITA(P) 047/08/9719 words
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727 1998-02-21 1 Ahmad Osman - Govt sets the tone for private sector By Ahmad Osman MINISTERS’ salaries and those tor top civil servants will be frozen this year, to set the tone for the private sector in the wake of the regional finan cial crisis. Deputy Prime727 words
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Article, Illustration401 1998-02-21 1 IN A a cable car susoended tens of metres above the ground last Saturaav evening. Mr Patrick Chiow, 32. finally oopped the question that has een on the tip of his tongue for the last month. He went down on his right kneePicture bv ENRIQUE SORIANO. - 401 words
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Page 1 Advertisements
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Advertisement9 1998-02-21 1 33 finance panel’s ideas get government’s nod: Page 249 words
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Advertisement10 1998-02-21 1 Planning a AREER Move CHECK OUT Pages 21 22 *****610 words
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NEWS FOCUS
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Article, Illustration625 1998-02-21 2 Dominic Nathan - If inter-monsoon winds b10w... By Dominic Nathan THE haze could be back as early as next month or April if forest fires continue to burn in Indonesia. The Meteorological Service says that as wind direction becomes unpredictable in those two inter-monsoonTIEN CHUNG PING; SOURCE METEOROLOGICAL SERVICE - 625 words
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517 1998-02-21 2 Lim Seng Jin - By Lim Seng Jin SOME motorists obtained their driving licences last year even though they never sat for the compulsory driving theory test. Six people let businessman Chern Chyh, 37, impersonate them and do the theory test on their behalf last517 words
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Article, Illustration543 1998-02-21 2 Tan Ooi Boon - The initial capital charge of murder was reduced to a manslaughter charge because the prosecution believed that the killing was provoked by his wife’s “insulting remarks”. WIFE-KILLER By Tan Ooi Boon HE HAD just hacked his wife to death543 words
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482 1998-02-21 3 Sharon Vasoo - By Sharon Vasoo TWENTY-THREE illegal immigrants were caught entering Singapore by sea in the first two weeks of February alone compared to 84 illegal immigrants arrested at sea for the whole of last year and none in 1996. Out of the 23482 words
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Article, Illustration488 1998-02-21 3 Jasbir Singh - Shaving foam on his trousers and travel agent loses 30 passports at Chinese embassy By Jasbir Singh TRAVEL agent Jackson Chan was filling up a visa form at the Chinese embassy’s visa section here yesterday when someone sprayed shaving cream on his trousers. As he bent down to clean up,SHIN MIN picture. - 488 words
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715 1998-02-21 3 Koh Buck Song - It must help restore confidence in Asia By Koh Buck Song SENIOR Minister Lee Kuan Yew last night called on the European Union to play a more pro-active role in helping Asia to a speedier recovery from its economic ills. In715 words
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PARLIAMENT
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Article, Illustration690 1998-02-21 4 Tan Li Eng - First fall in profits since recession of 1985 By Tan Li Eng THE six local banking groups will suffer a 30 per cent drop in 1997 aggregate earnings as a result of the regional economic crisis making it the first time690 words
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429 1998-02-21 4 Falling demand and tightening bank credit in the wake of regional crisis IT IS unwise for the Government to intervene to bail out firms which are hit by high interest rates and a pull-back of bank loans, said Deputy Prime429 words
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Article, Illustration165 1998-02-21 4 Modest increase in consumer prices THE regional economic crisis has not affected the cost of living here significantly. Consumer prices rose by 2.3 per cent in the second half of last year, a “modest” figure, said Trade and Industry Minister Lee Yock Suan165 words
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304 1998-02-21 4 Finance sector THE Government is re viewing some of the specific restrictions on the use of the Singapore dollar, although it will stick largely by its current policy not to encourage its internationalisation, Deputy Prime Minister Lee Hsien Loong said on Thursday.304 words
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Article, Illustration703 1998-02-21 6 Jeya’s motion for ministers’ paycut a political gimmick, says BG Lee Economic turmoil and ministers’ salaries SINGAPOREANS should judge the Government by its ability to run an effective"system and solve problems that arise, and not look for political gimmicks. Deputy Prime Minister Lee703 words
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302 1998-02-21 6 Intellectual property rights THE Copyright (Amendment) Bill that was passed on Thursday will give the law more clout to fight piracy. It will allow the seizure of any article or document which shows evidence of copyright offences. This departs from the existing law302 words
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531 1998-02-21 6 Changes to apply to condos and private flats with more than 10 units PRIVATE residential properties that are 10 years or older will need the consent of only 80 per cent of the residents for en-bloc sales to go ahead under new regulations531 words
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Page 5 Advertisements
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Advertisement92 1998-02-21 5 Move your money wherever you want with POSBank. mm*®* a life-! r ||f§||M CSSWSt' M?O5 £sstw -ak%n > tjSEjffe 'Mffit}’ m ’s j r ;r You can now send money overseas with either POSBank’s Bank Draft service (available in 21 currencies) or Telegraphic Transfer (available in 23 currencies). Both with92 words
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HOME
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Article, Illustration980 1998-02-21 7 GinnieTeo - By GinnieTeo A SINGLE-STOREY bungalow in Newton used to be where an extended family would come together on Hari Raya, weddings and other special occasions. But for many years now. No 14. Gentle Road, sits mostly empty, save for three people whoHCTUHtrr STfNMif ftOft; G CHANDRAOAS - 980 words
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286 1998-02-21 7 Opposition moves WORKERS’ Party member Tang Liang Hong, who was declared a bankrupt last week after he failed to pay the damages for defamation suits won by ll People’s Action Party leaders, said last Friday that he w’ould not pay286 words
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254 1998-02-21 7 VETERAN opposition politician Low Yong Nguan is giving up politics to concentrate on his business and take care of his health. Time is not on my side, I am already 57,” he said last Friday. He added: “Henceforth. I shall have no further254 words
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252 1998-02-21 7 ALL National University of Singapore (NUS) students will soon own notebook computers which they can use, among other things, to go online to listen to lectures, video-con-ference with lecturers and obtain details of their courses. These notebooks, which cost between $1,500 and252 words
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380 1998-02-21 8 Wong Chee Meng - By Wong Chee Meng THE typical Singaporean in the 21st century will be a polytechnic graduate, said Education Minister Teo Chee Hean last Saturday. Soon, 40 per cent of each Primary 1 cohort in Singa pore will be expected to go to380 words
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Article, Illustration515 1998-02-21 8 Dominic Nathan - New ENV rules on size and number By Dominic Nathan THE burning of giant joss sticks and candles will be banned from next month, when new regulations spelling out the size and number allowed at a site come into effect. The Environment Ministry (ENV) said515 words
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Page 8 Miscellaneous
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Miscellaneous1120 1998-02-21 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 Market1,120 words
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SPORTS
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524 1998-02-21 9 Santokh Singh - IBBFto decide its bid for 2004 Games in Greece OLYMPICS By Santokh Singh SINGAPOREANS may have two more sports for a shot at Olympic glory. The International Olympic Committee has officially recognised the world bodies for bodybuilding and cue sports at a meeting in524 words
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Article, Illustration412 1998-02-21 9 Shirlynn Ho-Pereira - YACHTING By Shirlynn Ho-Pereira STANLEY TAN, a 25-year-old National University of Singapore law undergraduate, is planning to spend the next five years training full-time for the Asian and Olympic Games. He will sit for his final examinations in April412 words
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Article, Illustration286 1998-02-21 9 Santokh Singh - By Santokh Singh SINGAPORE, the only Southeast Asian country playing floorball, is to become a regional centre for the fastpaced sport. R. Sinnakaruppan, president of Singapore Floorball /Associaiton, signed an agreement of co-operation with International Floorball Federation supremo Tomas Eriksson at the Extra-Curricular ActivitiesPicture by JERRY SEH. - 286 words
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Article187 1998-02-21 9 THE game mav have many names innebandv in Sweden, unihockey in Switzerland and streetbaridy in Singapore but the official international term is floorball. And watching it played, ice hockey without the ice* immediately springs to mind. But officials from the International Floorball Federation say that it187 words
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MALAYSIA
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604 1998-02-21 10 Warren Fernandez - PM Goh in Malaysia By Warren Fernandez in Kuala Lumpur SINGAPORE and Malaysia had discussed ways in which both countries might help restore confidence in the emerging Asian economies amid the current economic crisis in the region. Prime604 words
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Article, Illustration235 1998-02-21 10 PENANG A Penang born woman, given away 34 years ago to an Australian couple, has located her natural parents in an old fishing village here after a two-year search. The Star on Wednesday said Madam Heng Siew Siam received the news about herThe Star pictures. - 235 words
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600 1998-02-21 10 Brendan Pereira - Cleared by courts but charges of sexual misconduct continue to haunt ex-Youth chief By Brendan Pereira in Kuala Lumpur HE WAS cleared of sexual misconduct and corruption two years ago. but former Malacca Chief Minister Tan Sri Rahim Thambv Chik is finding out600 words
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308 1998-02-21 10 NST. KUALA LUMPUR A for mer journalist who wanted to marry a Cambodian businessman had a rude shock when records at the National Regis tration Department (NRD' showed that she had married in 1993. The records also showed that she had two sons, aged three– NST. - 308 words
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SOUTH-EAST ASIA
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Article, Illustration661 1998-02-21 11 Susan Sim - Pro-currency board official replaces him By Susan Sim Indonesia Correspondent JAKARTA President Suharto on Tuesday fired his central bank governor and moved in an official said to support his plan to impose a currency board system, indicating that he may be well set on using661 words
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Article, Illustration541 1998-02-21 11 Derwin Pereira - Indonesia’s vice-presidential election By Derwin Pereira m Jakarta THE Indonesian armed forces (Abri) on Wednesday endorsed Research and Technology Minister B. J. Habibie as its viceS residential candidate, making is appointment to the country's No. 2 post almost a certainty. Outgoing Abri chief Feisal Tanjung,– Reuters picture. - 541 words
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246 1998-02-21 11 Susan Sim - By Susan Sim. JAKARTA President Suharto on Thursday appeared willing to ease back on his controversial plan tor a currency board system to shore up the rupiah after what was thought to be an olive branch offered by the International Monetary Fund246 words
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Article231 1998-02-21 11 -AFP, Reuters. MANILA Former Philippine First Lady Imelda Marcos said last Saturday she still loves those who hate her. She has launched her second presidential bid despite facing a 12-year jail term. “With luck, you will not only have a leader, but also a mother for-AFP,; Reuters. - 231 words
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COMMENT / Pick of the week’s editorials
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Article711 1998-02-21 12 FEBRUARY 21.1998 CAN IT be that the two principals in the Cambodian squabble. Prince Norodom Ranariddh and Mr Hun Sen, have had an attack of reasonableness? On Tuesday, both men said they accepted a Japanese formula that would clear the path for the country’s general election,711 words
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Article672 1998-02-21 12 FEBRUARY 20.1998 GIVEN the ups and downs in Singapore-Malaysia relations over the past three decades, it is understandable if well-informed Singaporeans appear cautious in welcoming the outcome of talks between the two prime ministers. True, the meeting last Monday in Kuala Lumpur between Mr Goh Chok672 words
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Article, Illustration851 1998-02-21 12 Bob Ng - By Bob Ng IT WAS with a mix of emotions that I read the story in The Straits Times last Friday of Mr Cvrille Tan. Sad ness was the dominant feeling as I got into the article, doubt less made worse by851 words
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Article667 1998-02-21 12 FEBRUARY 16.1998 THE finance and banking sub committee of the Committee on Singapore’s Competitiveness has proposed that employees should be allowed to elect to have their retirement funds placed with private pension funds, rather than the CPF' Board. Our response to the suggestion is:667 words
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COMMENT/ANALYSIS
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Article, Illustration1161 1998-02-21 13 Tan Sai Siong - By Tan Sai Siong THE cashier at Cold Storage Chancery Lane said good morning and gave me a toothsome smile. I knew why as I stared pointedly at a bowl of red apples on the count er where1,161 words
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1129 1998-02-21 13 Warren Fernandez - By Warren Fernandez THE Chinese expression for “crisis”, wei ji. combines a character from the word “danger" and another from that for “opportunity”. It reflects an age-old wisdom that amidst all the confusion of a crisis, there might also be1,129 words
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INSIGHT
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Article, Illustration2439 1998-02-21 14 Much has been said about the plight of big business and workers who face retrenchment in the face of the economic slowdown. But what about the impact on small business and all-and-sundry trades? Kao Chen speaks to seven heads of associations representing merchants, traders, retailers, shopkeepers, hawkers,2,439 words
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Article, Illustration1097 1998-02-21 15 Sonny Yap - What blew my mind was the painstaking way in which complaints procedures were spelled out step by step, with a chart listing the names and phone numbers of key officials whom you could complain to progressively if you failed to elicit satisfaction.1,097 words
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MONEY
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391 1998-02-21 16 Weekly market review THE week started on a bearish note as regional concerns continued to plaque the Singapore bourse. But spin-offs from the meeting between Prime Minister Goh Chok Tong and Malaysian PM Mahathir Mohamad and the firming of regional currencies improved things somewhat.391 words
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Article81 1998-02-21 16 ST Industrials Index The Straits Times Industrials Index dropped 6.90 points on the week to 1545.79. DAY CLOSE TURNOVER Monday 148:.55 (—71.14) 349.210 ($472.125m) Tuesday 1496.90 (+15.35) 312.086 ($403.395m) Wednesday 1538.98 1+42.08) 389.089 ($451.584m) Thursday 1553.47 (+14.49) 523.895 ($627 782m) Fnday 1545.79 7.68) 315.527 ($430.624m) BT— MGA81 words
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Article1646 1998-02-21 16 Company Dot# •Oft Ntt t*rn TV LV ($m) ($m> EPS TV LV (Ctl) (cts) Altundr* HidgsDtc 15 4.039L 0.6847 13L 2.95 An* P»c Brtw Dtc 12 P 77 287 78.252 305 30.9 A$i*n P»C Bhd* Dtc 31 40.167L 6418 1.85 AV Jtnnings Nov 10 5.401 3.342 2.51 1.71 Avimo Grp1,646 words
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Article219 1998-02-21 16 RIGHTS issue CxBooks Acc 6 Company Ratio data ctosa Paymt Easyknit Thraa-for-T*.o®HWOC Dot 31 Jan 7 Fab 4 BONUS issue exBooks Company Ratio data clot* Dot «puls* Ona-for-two Jan 13 Jan 19 NA Hup S*ng Huot Ona-for-fiv* Fan 2 Fob 9 Fab 19 Eng Wah Ona-for-two Fab 13219 words
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Article82 1998-02-21 16 Company RlgMt latua AISI inno-Pac Matariat H PMI Thraa-for-flva MS5.50 Ona-for-ona $0.30 Ona-for-ona®$OJ?0 Thraa-for-two M$1.00 Company Bonua latua H Royal ’’wo-for-thraa H Sang nuat Ona-lor-flva Kamtyon Corp Ona-for-tnrpa Lum Chang Ona-for-flva NBT Ona-lor-flva PMI Ona-for-four Company Othara mno-Pae Propoiad latua of ona wrt for avary four ordinary snaraa.82 words
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Article99 1998-02-21 16 jaoo T#eh A *0 Gul Crostont jprong Town (*****3) fob 18 10 OOom Jm K»h ;<gam E Notoi Eauatortal Sougamvilla Pm 429 Bukit Timan Rd Ftp 27 '0.00am Carnaud !/.«tai Bat c 455 Jin Anmod turnm Jurong ,*****6» Fob 20 10 OOorr, A $14 P«C Broworios E levoi99 words
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Article395 1998-02-21 16 Payment lx Book* Pay (HI date clot* date All* P*c Brew f 11N Feb 27 Mar 6 Mar 17 Avlmo 20C F 16.2SN Mar n Maris Apr 3 Ber|*y* Grp 1 2.0 Feb 11 Feb 18 Mar 17 Berjay* Land Bd 1 2 Feb 8 Feb 13 Mar395 words
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1003 1998-02-21 17 Chan Wee Chuan - By Chan Wee Chuan SINGAPORE-LISTED com panies are expected to post their slowest profit rise since the end of the Gulf War in 1990, hurt by the unprecedented regional financial crisis, say analysts. They reckoned corporate earnings last year grew by be1,003 words
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Article169 1998-02-21 17 COUNTER RATES Singapore dollars to one unit ot foreign currency Selling Buying OD US dollar ***** 1 6601 Sterling pounfl 2 6269 2 7282 Australian dollar 1.0755 1.1255 Canadian dollar 1.1304 1 1722 NZ dollar 0 9301 0.9758 EC unit 1 8133 Singapore dollars to 100 units of foreign169 words
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Article106 1998-02-21 17 Contract date: February 20,1998 UNIT ONE MTH 3 MTH 6 MTH 9 MTH 12 MTH CALL VALUE DATE uss 4’V„ 5 5 57„ 5’4, 4V„ 24 2 98 AS 4V., 4V„ 4V„ 4 3’. 24 2/98 NZS T% 7'V., 7 7 T\ 7' i 7% 24/296 STG106 words
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148 1998-02-21 17 JURONG Town Corporation (JTC) chairman Lim Neo Chian is the new man at the helm of the Singapore-China joint venture developing the Suzhou Industrial Park in China. He has been named chief executive officer of the China-Sin-gapore Suzhou Industrial Park Development Company148 words
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Article435 1998-02-21 17 February 20,1998 HKS ASM Pacific 6 tO +0 100 Allied ind lot l 0 54 Allied Oversea 056 unch Asia Sec Int 0 75 +001 Bank of EA 15 70 •0 30 C P Pokphand 1 59 •0 05 COL Hotel 2 62 unch Cate Oe Coral 1 68435 words
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Article1052 1998-02-21 17 Mgrs' Prices, February 21 Aberdeen Asset Asia Ltd AN» ooen pore Ground 0929-C977" Ab«d**n S«f«t Portfolio (Ji NAV) Asian F ored income und Pacific Equity Fund Indonesian Equrfv Fund Malaysian Equity Fund Philippine Equity fund Singapore EqmfyFimd Tha'land Equity Fund AiBGovett (Asia) Ltd Goveh Asia Pacific G'owth M1,052 words
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Article9072 1998-02-21 18 INDUSTRIAL AND COMMERCIAL Transaction Date: February 20.1998 1997 98 Curr Last Vol Cay Gr's Net M Cap Wt Avg High Low Company r raced Sale ♦or000 High Low Div PE Snail Price 157 185 e ACE Dynamics6Cc ASE NTS10 200 US 39 1 87 39 345 31.99,072 words
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Article, Illustration443 1998-02-21 20 Tan Li Eng - Not practical to duplicate CPFs many facilities By Tan Li Eng THE Central Provident Fund (CPF) is here to stay because it is a “major feature of the landscape" around which local rules and practices revolve, Deputy Prime Minister Lee Hsien Loong said on443 words
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991 1998-02-21 20 Kalpana Rashiwala - By Kalpana Rashiwala THE stock of unsold private homes ballooned 73 per cent year-on-year to 17.607 at end-December last year and only 894 new units were sold in the last three months the lowest quarterly sales in about four years. The glut could grow991 words
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Page 16 Advertisements
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Advertisement19 1998-02-21 16 Visit The Straits Times Classified start your to the holidays on ight foot «2 Classifications 573 587: Travel Guide19 words
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Page 21 Advertisements
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Advertisement786 1998-02-21 21 The Straits Times Weekly Edition Mm @8 xm mm SS:S ff S SKvX ::W ssa SIEMENS MINISTRY OF FINANCE REVENUE DIVISION has immediate vacancies for the post of: REVENUE OFFICER You will be required to conduct case work involving the critical examination of requests or cases requiring either executive or786 words
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Page 22 Advertisements
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Advertisement960 1998-02-21 22 Monetary Authority of Singapore As the de-facto central bank of Singapore, our mission is to promote sustained and non-inflationary growth of the Singapore economy, as well as to foster a sound and progressive financial services sector. You too can play a part in this challenging rewarding mission. We would like960 words
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FORUM
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380 1998-02-21 23 Patient safety, not cost, should be the overriding consideration. Should not the ministry learn from the Aids-infection tragedy in Sydney, and allow only the import and use of single-dose vials of medical products? Health Ministry should review blood products and ban multi-dose vials380 words
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237 1998-02-21 23 I REFER to the letter “Allow schools to forgo texts" by Mrs Molly Chan (ST Weekly, Feb 14). The Ministry of Education believes that it is important to have prescribed textbooks in schools. A good textbook is an essential part of learning237 words
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Page 23 Advertisements
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Advertisement123 1998-02-21 23 Dear Readers, THE Straits Times welcomes letters from you. Your letters must include your signature, full name, address and home and office telephone numbers. We do not accept for publication letters from writers who decline to give their names. This rule will be waived only in very exceptional circumstances, such123 words
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Advertisement181 1998-02-21 23 Home Deliver/ Weekly! A crisp summary of the week's major happenings in Singapore. Politics, business, the economy, investment opportunities, executives appointments... and highlights on Malaysia and the Asean. A convenient tabloid airmailed to you wherever you may be. Yes! Every week. Subscribe now. And be at home with the ST181 words
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782 1998-02-21 24 Tan Li Eng - 10 tax-related proposals being considered c/ Tan Li Eng THE Government on Wednesday waved through a nost ot recommenda lions tor improving Singapore s financial sector competitiveness, including a proposal to kick-start a uebt market oased on oublic sector norrowing, but stopped short782 words
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Article, Illustration791 1998-02-21 24 Warren Fernandez - 3v Warren Fernandez ,n Kuaia Lumpur PRIME Minister Gon Chok Tong nas ciescriuea his two-uav working trip to Maiavsia as a •‘useful visit wnicn couid serve s a piatform for join countries to launch into further areas of cooperation. One of tne benefitsBernama picture. - 791 words