The Straits Times : Weekly Overseas Edition, 28 February 1998

Microfilm: NL21358
Total Pages: 23
1 24 The Straits Times : Weekly Overseas Edition
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  • Title Section
    Masthead
    20 1 The Straits Times WEEKLY EDITION SATURDAY, FEBRUARY 28, 1998 Price: 551.20 (in Singapore) Elsewhere by subscription only MITA (P) 047/08/97
    20 words
  • Article, Illustration
    Lock icon Dr Hu unveils prudent Budget
    1305 1  -  Major stimulative measures held back $2.7b surplus one of smallest in recent years By Ravi Velloor FINANCE Minister Richard Hu yesterday held back major stimulative measures for the economy as it awaited the full impact of the regional economic crisis which, he said, would hit
    Picture by LIM SIN THAI.  -  1,305 words
  • Article
    Silk Air crash: No sign of foul play, says Mah
    256 1 INVESTIGATIONS into the Silk Air MI 185 crash have not found any evidence or suspicion of foul play so far, Communications Minister Mah Bow Tan told the House yesterday. The Boeing 737-300 crashed on Dec 19 in Palembang, Indonesia, killing
    256 words
  • Page 1 Advertisements
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  • NEWS FOCUS
    • Article
      Manpower under new ministry in April
      717 2 THE Labour Ministry will be revamped and renamed the Ministry of Manpower from April 1 and will be in charge of developing and coordinating Singapore's national manpower strategy. Prime Minister Goh Chok Tong announced on Tuesday. All critical human resource functions being carried out
      717 words
    • Article
      EDB and NCB name three scholars who broke bonds
      695 2 THE Economic Development Board (EDB) and the National Computer Board (NCB) have made public the names of three of their scholars who broke bonds. The three are still in the United States. They are: Mr Teo Hoon Ping, an EDB scholar
      695 words
    • Article, Illustration
      Woman explains son’s decision to break NCB bond
      552 2  -  He wants to seek knowledge, not money By M. Nirmala HECTOR Yee Yang Li, 22. broke his scholarship bond with the National Computer Board (NCB) because he wanted to pursue knowledge, not money, said his mother, Mrs Janet Yee. Mrs Yee had
      552 words
    • Article
      Private fund managers to get $25b boost
      961 3  -  Premier funds hub moves unveiled By Tan Li Eng THE Government on Thursday unveiled initiatives to develop Singapore into Asia’s premier fund management hub over the next five to 10 years including putting a massive $35 billion in state funds into the hands
      961 words
    • Article, Illustration
      Seasoned windsurfer dies after collision at sea
      414 3  -  By Erica Tay A SEASONED windsurfer died hours after colliding with another surfer in the sea off the east coast on Sunday. Mr Eric Lim, 27, a technician and an avid windsurfer for seven years, had suffered serious injuries from the collision and
      414 words
    • Article
      Haze: Prepare for the worst, minister tells S’poreans
      247 3  -  By Dominic Nathan KUCHING Singaporeans should be prepared for the worst as the fires in East Kalimantan have reached a serious level, Environment Minister Yeo Cheow Tong said on Wednesday at the end of the Asean environment minis- ters’ meeting on the
      247 words
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  • HOME
    • Article
      Financial crisis: SM asks EU to be more pro-active
      663 4  -  It must help restore confidence in Asia By Koh Buck Song SENIOR Minister Lee Kuan Yew last Friday called on the European Union to play a more pro-active role in helping Asia to a speedier recovery from its economic ills. In
      663 words
    • Article
      People’s emotional, cultural makeup can’t keep up with IT, says SM
      641 4  -  Why Asian crisis spread so fast By Chua Mui Hoong TECHNOLOGY is moving so fast that people’s emotional and cultural makeup cannot keep up with the changes in the world, and this is one underlying reason why the Asian
      641 words
    • Article, Illustration
      Lock icon Aerospace firms should stay engaged in region, says Tony Tan
      404 4 THE Asia Pacific’s prospects for long-term economic growth remain good, despite the regional currency crisis, and aerospace companies should continue to be engaged in the region, Dr Tony Tan said on Monday at the launch of the Asian Aerospace airshow
      Picture by TAN SUAN ANN.  -  404 words
    • Article, Illustration
      SDU members can now socialise on the Internet
      483 6  -  Your pal is just a click away By Jason Leow A NEW Internet service by the Social Development Unit, aimed at helping singles meet in cyberspace, nas attracted more than 136,000 visitors to its web site months before it is launched officially
      483 words
    • Article
      Sex mags top list of nearly 170 banned titles
      415 6  -  By Jason Leow. NEARLY 170 English-lan-guage publications are banned in Singapore, with 90 per cent of them being explicit sex-related magazines or those which promote a promiscuous lifestyle. The list of banned publications includes titles such as Playboy. Playgirl and Hustler,
      415 words
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  • Page 5 Advertisements
    • Advertisement
      Page 5 Advertisements Column 1
      106 5 Move your money wherever you want with POSBank. V l ,t>v l' I <■*"• V,4Y# 6f?> k! W ««cafe wmitSB «WjPSfe Ppi!!‘ sĕmt! ■M SM *£s*/.• > I *v«y .i4SO *>U4 I IU-- fy;vT '>*■ ftil'HT KH *>■<- m vAtmi or »r ...■X,- You can now send money overseas with
      106 words
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  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      1115 6 RADIO SINGAPORE INTERNATIONAL (ENGLISH) PROGRAMME SCHEDULES 1100 —l4OO 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 Market
      1,115 words
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  • SPORTS
    • Article, Illustration
      Life-ban for trio for taking bribes
      424 7  -  SOCCER By S. Murali THE Football Association of Singapore has imposed life bans on former Balestier Central players Zulkifli Kartoyoho, Azriludin Kamis and Hazali Nasiron. Although the three players have not been charged with match-fixing, all three admitted that they took bribes to fix
      424 words
    • Article
      S’pore will have own ‘Dream Team’
      476 7  -  BAS to form professional national squad within the next two months BASKETBALL By Thomas Koh THE Americans have their basketball “Dream Team” for major events like the g Olympics and world chamionsnip. Come the 1999 outh-east Asia Games in Brunei, Singapore hopes to field
      476 words
    • Article, Illustration
      Corporate support for school sport increased
      486 7  -  By ChanTseChueen CORPORATE sponsorship in school sport has increased more than three-fold to reach a whopping $824,000 this year compared to $230,000 last year. The big boost comes from the Singapore Pool’s half-a-million-aollar injection into the development of the Junior Sailing Club. The company,
      486 words
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  • MALAYSIA
    • Article
      Lock icon Buying into bumi firms: DPM Anwar clarifies
      688 8 Bernama, Reuters. KUALA LUMPUR The move to allow non-bumiputra firms to buy into bumiputra companies may not necessarily be temporary but this would have to be worked out by the government. Malaysian Deputy Pnme Minister Anwar Ibrahim said on Thursday. As for the
      Bernama,; Reuters.  -  688 words
    • Article
      Second link toll is lower than first proposed, says minister
      617 8  -  By Walter Fernandez m Kuala Lumpur THE Malaysian Government has decided that the toll charges at the new second link to Singapore will be “much lower than those proposed earlier”, said Works Minister Sarny Vellu. after Wednesday’s weekly Cabinet meeting.
      617 words
    • Article
      Target to woo a million Japanese tourists
      145 8 KOTA KINABALU Malaysia has targeted one million Japanese tourist arrivals over the next 22 months. Deputy Minister for Culture, Arts and Tourism Datuk Teng Gaik Kwan has said. She said this was part of the 12.5 million tourists Malaysia hoped to attract by
      145 words
    • Article, Illustration
      Assemblyman fined for jilting fiancee
      322 8 Judge orders him to pay $6,600 and to give ring back IPOH A Syariah Lower Court here has ordered a Perak state assemblyman to pay a businesswoman M 516,000 (556,600) for breaking his promise to marry her. The Star reported last Friday that the state
      322 words
    • Article
      Lock icon Monash University first to set up KL campus
      365 8 Bernama, AFP. KUALA LUMPUR Austra lia’s Monash University has accepted an invitation from the Malaysian government to become the first foreign university to set up a full campus in the country. Education Minister Datuk Seri Najib Tun Razak said on Monday that
      Bernama,; AFP.  -  365 words
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  • SOUTH-EAST ASIA
    • Article
      Jakarta to unveil new measures to help its firms
      377 9  -  By Derwin Pereira in Jakarta INDONESIA will soon unveil new measures to allow struggling local companies to resume imports and boost exports. And the government might turn to Singapore for help, Trade and Industry Minister Tunky Ariwibowo told reporters after meeting
      377 words
    • Article
      US commits $6.6m to haze prevention in the region
      342 9  -  By Dominic Nathan in Kuching THE United States government has launched a Southeast Asian Environment Initiative, with US$4 million (556.6 million) set aside to help the region prevent a repeat of last year’s haze disaster, Asean environment ministers were told here
      342 words
    • Article, Illustration
      Lock icon Kick-boxer sashays his way to victory
      414 9 AFP. BANGKOK Thousands of fans packed Bangkok’s Lumphini Stadium to watch the country’s new kick-boxing sensation, transvestite slugger Parinya Kiatbusaba, win the biggest fight of his life, witnesses said on Wednesday. The cheers from the 10,000strong crowd in the stadium were deafening as Parinya,
      AFP.; AFP picture,  -  414 words
    • Article
      Lock icon Brunei joy tempered by twin worries
      419 9 Sultanate’s 14th National Day Reuters BANDAR SERI BEGAWAN Brunei celebrated 14 years of independence on Monday, thankful for the wealth that has largely shielded the sultanate from a regional economic crisis, but worried over haze and unemployment. Sultan Hassanal Bolkiah, in a nationally televised
      Reuters  -  419 words
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  • COMMENT / Pick of the week’s editorials
    • Article
      Prudence is the word
      631 10 FEBRUARY 28.1998 IT IS CLEAR from Finance Minister Richard Hu’s Budget that the Government, by taking a prarim approach in money matteXMindbtoayi fa*Mully to nMes he unveiled in Parfiament yesterday, the message is that in this hour of financial turmoil in neighbouring countries, now is certainly
      631 words
    • Article
      No excuses, please
      650 10 C EBRUARY 25.1998 SURPRISE might have been pleaded as a mitigating factor last year when the region was smothered for over three months in a mixture of smoke and chemicals as the forests of Kalimantan and Sumatra blazed away But the Asean environment ministers who are meeting
      650 words
    • Article
      Not by test results alone
      644 10 FEBRUARY 24,1998 AT LONG last, something concrete is going to be done to refine university entrance requirements to take into account the extra-curricular activities (ECA) of students going for tertiary education. About time, school principals and teachers say, because the good that ECA can do
      644 words
    • Article, Illustration
      No merit in the case for ‘disabled’ golfer
      777 10  -  By Sia Cheong Yew IT CAME as no surprise to me that American pro-golfer Casey Martin won the right to use a buggy on the Nike Tour because he suffers from a congenital circulatory disorder that makes walking painful. After all, the
      777 words
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  • COMMENT/ANALYSIS
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  • CPF Newsline A CORPORATE NEWSIGTTER OF THG CPF BOARD
    • Article
      Let Giro make your CPF payments easier
      211 12 / 13 With Giro, making CPF contributions have never been easier for BP Singapore and Wing Tai Garment Factory. These are two of the more than 7,000 companies which make their monthly CPF payments through Giro. Preparing the monthly cheques to pay CPF is now
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    • Article, Illustration
      Why go for annuities?
      243 12 / 13 Minimum Sum Sememe Turning 55 and thinking where to park your CPF Minimum Sum? Leaving the Minimum Sum in your Retirement Account with the Board sounds easy enough. The Board pays you a monthly income when you reach 60. But once your Minimum Sum, plus interest
      243 words
    • Article, Illustration
      CPF IN SHORT
      314 12 / 13 CPF customer service receives recognition The CPF Board was recently featured in the 1 Productivity Standards Board's latest publication, Best Practice Cases: Customer Service. Highlighted was the Board's counter service because of the significant improvement it has made in serving customers. These changes began in 1987 when
      314 words
    • Article
      CPF Board’s service improvements in 1997
      324 12 / 13 Over the past 12 years, the Board has developed a corporate philosophy that places great emphasis on quality work and service. The Board has worked hard at it and achieved good results. Annual surveys in the last five years have shown that at least
      324 words
    • Article
      Pre-Medisave Top-Up Scheme
      103 12 / 13 The Government gave out a total of $54.1 million to more than 183,500 CPF members who were 63 and above on 1 April 1997. These members had made a $20 co-payment from 11 Jul to 31 Dec 1997. The top-ups were credited ftUk into their Medisave F
      103 words
  • Page 12 / 13 Advertisements
  • Page 12 / 13 Miscellaneous
    • Miscellaneous
      Page 12 / 13 Miscellaneous Column 1
      39 12 / 13 NO! Does that mean I need not look after you guys when you both get old? CPF members remember to take into account the increase in Minimum Sum if you want to use your CPF for investments or education.
      39 words
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  • INSIGHT
    • Article, Illustration
      Kalimantan inferno: Watching fires in the belly of the bear
      1154 15 At Singapore’s frontline of the haze problem are the officers of the Meteorological Service in Changi, who keep a watchful eye on the unfolding disaster with the help of satellites in space. Ravi Veloo spends a fire-spotting day with these
      1,154 words
    • Article, Illustration
      It’s the bottomline, not showmanship, that counts
      1005 15  -  Thinking Aloud Chua Lee Hoong IF FORMER Cabinet minister S. Rajaratnam was still in Parliament today, I wonder what he would have made of Mr J. B. Jeyaretnam’s call for ministers and MPs to take a voluntary pay cut of 25 per cent
      1,005 words
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  • MONEY
    • Article
      Bourse turns upbeat in later half of week
      368 16 Weekly market review ARE the big boys back? This was the question on eveiyone’s lips as the stock market turned upbeat in tne latter half of the week. Trading volumes were decent and more bullish investors pronounced it the breaking from range
      368 words
    • Article
      DAY-TO-DAY STOCK INDICES
      79 16 ST Industrials Index The Straits Times Industrials Index rose 69.59 points on the week to 1615.38. DAY CLOSE TURNOVER Monday 1551.91 6.12) 371.487 ($435.657m) Tuesday 1561.75 9.84) 515.803 ($473.368m) Wednesday 1583.22 (+21.47) 515.160 ($495.124m) Thursday 1594.95 (+11.73) 330.999 ($456.261m) Friday 1615.38 (+20.43) 385 110 ($581.586m) BT— MGA
      79 words
    • Article
      CORPORATE RESULTS
      1681 16 20T TI290 »2tr SI >0»s i»riH 6u»H err 9* t 2021 26IT OC l0»s UJiy #41 0» 0 T190T 609'0 62 16*«wn »2 90 62ft 9»0 0 d 62 »d»s '»0 DT cn 6’6i 221X2 'Wit SZ id»' Ui»iny 66 0 68C 8SCX iior 92ld»$ 92 601 2
      1,681 words
    • Article
      APPROVED ISSUES
      177 16 RIGHTS ISSUE Company Ratio Exdate Books close Acc Paymt Essyknit Three-for-TwoiBHKIOC Dec 31 Jan 7 Feb 4 BONUS ISSUE Company Ratio Exdate if Datapulse Hup Song Hunt Eng Wah One->or-two One-for-five One-for-two Jan 13 Feb 2 Feb 13 Jan 19 Feb 9 Feb 20 NA Feb 19 NA
      177 words
    • Article
      PROPOSED ISSUES
      84 16 Company Rights laiua AIS8 Inno-Pac Material H PMI Three-for-five MS5.50 One-tor-one $0.30 0ne-for-one«>$0.20 Three-for-two M$V00 Company Bonus Hsu* M Royal Two-f or -three H Seng Huet One-for-flve Kemayan Corp One-for-three Lum CKeng One-for-tive NBT One-tor-five PMt Ona-for-four Company Other* Inno-Pac Proposed issue of on* wrt for every four
      84 words
    • Article
      COMPANY MEETINGS
      99 16 Excel A 521 Bum Baton St23 Excel Bldq (*****4) Feb 28 10.00am lim K*h Ngam E Hotel Equatorial Bougamvilla Rm 429 Bukit Timah Rd Feb 27 10 00am Bolt on Bhd E Board Room 6»h Floor Campbell Complex 98 Jin Dang Wangi.KL Feb 26 10.00am F&N A Level
      99 words
    • Article
      DIVIDENDS ANNOUNCED
      431 16 Payment Ex Books Pay (*> date close date A$p« Pec Brew F 11N Feb 27 Mar 6 Mar 17 Avlmo 20C F 16.25N Mar 11 Mar 18 Apr 3 Australia 50c F 6.4N Mar 2 Mar 9 Mar 20 Barieye Grp 1 2.0 Feb 11 Feb 16 Mar
      431 words
    • Article
      MAS keen to ease cross-border investigations
      571 17  -  Current laws under review By Ravi Velloor THE Monetary Authority of Singapore (MAS) is studying whether laws need to be changed to allow greater cooperation with foreign regulatory authorities in dealing with offences such as insider trading. Responding to the Hongkong Securities and Futures
      571 words
    • Article
      Eight in 10 local firms hit by economic turmoil, says SCI
      353 17  -  By Colin Tan EIGHT out of 10 small and medium-size businesses expect this year’s profits to be reduced by the regional economic turmoil, and 30 per cent are braced for earnings to plunge more than 40 per cent. This
      353 words
    • Article
      PSA expects business to grow despite turmoil
      294 17 NEWLY corporatised port operator PSA Corporation expects business to grow despite the regional economic turmoil but at a much slower pace. Growth this year will be a lot slower than last year’s, PSA chairman Yeo Ning Hong said on Wednesday. “We hope to
      294 words
    • Article
      CURRENCY
      171 17 COUNTER RATES Singapore dollar* to on* un't of foreign currency Buying 00 Selling US dollar 1 5945 1 6325 Sterling pound 2 6003 2.6976 Australian dollar 1.0565 1.1038 Canadian dollar 1 1139 1.1533 NZ dollar 0 9101 ***** EC unit 1.7865 Singapore dollar* to 100 units of foreign currency
      171 words
    • Article
      ASIAN CURRENCY UNITS
      99 17 Contract date: February 27,1998 UNIT ONE MTH 3 MTH 6 MTH 9 MTH 12 MTH CALL VALUE DATE uss 5 S'U 54, 5% 4*4, 3/3/98 A$ < 4',, 4, y. 3/3/98 NZS 8*, 8'4, 8'-« n n r\ 3/3/98 STS 6«, 6.. 6% 6'4 6% 6 3/3/98
      99 words
    • Article
      HONGKONG
      432 17 February 27,1998 ASM Pacific Allied Ind M l Allied Oversea HAS «10 0 37 060 +0100 •001 +0.02 Asia Sec Int 062 +003 Bank of EA 16.28 0 35 C P Pokphand 1 SO +0.03 COL Hofei 2 «3 +0.06 Cafe Oe Coral 1.73 ■0 02 CathPacAv Ml -0
      432 words
    • Article
      UNIT TRUSTS
      121 17 Mgrs’ Prices, February 28 mpi h i J’lcTi S i j t nfi#Pz! til r s -i 5* 1 rw b Hit Jf J 6 SIIfPUK'Pf fififliliuiii &?|s*f If I III nip I* y||i 3 3 ’illlfSIii -Fs’S’y W%1 S a m HSI m ih o oo «~f
      121 words
    • Article
      SES MAIN BOARD
      8925 18 1 INDUSTRIAL AND COMMERCIAL Transaction Date: February 27. 1998 1997 98 Curr Last Vol Day Gr’s Net M Cap Wt Avg High Low Company Traded Sale +OTooc I High Low Div P/E $mil Price 157 185 i e ACE Dynamic*60c ASE NT510 200 us 39 unch 14
      8,925 words
    • Article, Illustration
      Lock icon Banks to reveal loan exposure during 1997 results season
      765 20  -  A first in Singapore corporate history By Tan Li Eng FOR the first time in Singapore corporate history, banks will strip away the cloak of secrecy snrouaing their provisions for doubtful loans and their exposure to the region when they release
      ADAM Iff  -  765 words
    • Article
      New schemes target car, home buyers
      479 20  -  By Tan Li Eng. CAR distributor Performance Motors and property developer Far East Organisation have come up with packages to attract buyers in the face of rising interest rates and depressed market conditions. On Tuesday BMW agent Performance Motors launched a promotion for its
      479 words
    • Article, Illustration
      Lock icon Former Amcol directors not guilty of insider trading
      467 20  -  By Jean Chia TWO former Amcol Holdings directors were not guilty of insider trading, District Judge Yap Siew Yong ruled last Thursday at the end of a 40-day trial. Tang Siu Shing, 50, and Ng Chee Kheong, 41, were acquitted on charges
      G. CHANDRADAS  -  467 words
  • Page 16 Advertisements
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  • Page 21 Advertisements
    • Advertisement
      Page 21 Advertisements Column 1
      701 21 NGEE ANN POLYTECHNIC The Polytechnic Of Industry LECTURER (135,000 1(2,000 pa) liottdwliff Department Requirements A good degree in Chemical Engineering Experience in the petroleum or petrochemical industry preferred Must be able to teach competently in at least 2of the following subjects: Petrochemical Technology Unit Operations in Chemical Engineering Industrial Chemistry
      701 words
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  • Page 22 Advertisements
    • Advertisement
      Page 22 Advertisements Column 1
      842 22 <* s National University t > 1 O-: i %4Ĕw of Singapore Founded 1905 Applications are invited for appointment to the posts of: (D (Assistant lihrarimv (2) Trainee Librarian Post 1: A good academic Degree, preferably with Honours in Science or Law plus an acceptable postgraduate professional qualification in library
      842 words
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  • FORUM
    • Article, Illustration
      Lack of ‘black box’ data makes crash probe tougher
      401 23 Crash of Silk Air Ml 185 I REFER to the letter, “Singaporeans must know how Silk Air jet crashed” by Mr Ng Hwee Koon (below). All parties concerned, including the Civil Aviation Authority of Singapore (CAAS), the Indonesian authorities, the US
      401 words
    • Article
      S’poreans must know how SilkAir jet crashed
      399 23 Nothing concrete has been done to dispel suspicions NEARLY two months have gone by and we are still no closer to knowing the cause of Dec 19’s Silk Air crash. While there have been occasional updates on the progress, so far Singaporeans have
      399 words
  • Page 23 Advertisements
    • Advertisement
      Page 23 Advertisements Column 1
      171 23 Home Delivery 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 ST
      171 words
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  • Article, Illustration
    Lock icon Pilot’s mission accomplished
    101 24 HIS seven colleagues at the Singapore Flying College used to give him curious looks because he was spending most of his lunch breaks trying to work out mathematical solutions. But it has all added up for pilot and aviation lecturer T. Thamizhvanan, 34, seen here at his
    — Picture by TAN SUAN ANN.  -  101 words
  • Article
    Growth forecast for 1998 cut to 2.5-4.5%
    840 24  -  Government rules out fears of recession for now By Tammy Tan THE Government on Thursday downgraded sharply its economic growth forecast for 1998 to between 2.5 and 4.5 per cent due to the regional financial crunch. But it ruled out for now any
    840 words