The Straits Times : Weekly Overseas Edition, 25 July 1998

Total Pages: 24
1 24 The Straits Times : Weekly Overseas Edition
  • 20 1 The Straits Times Weekly Edition Saturday July 25,1998 Price: S$ 1.20 (in Singapore) Elsewherb by subscription only MITA (P) 047/08/97
    20 words
  • 698 1  -  The 1.6-billion acquisition wall make DBS Bank the 65th largest in the world and strengthen its position here Oil TAN LI ENG THE man-in-the street’s bank for 26 years, POSBank, is merging with commercial bank DBS to create the 65th biggest bank in the world.
    Graphic* by RAYMOND LFE; Picture by WONC KWA1 CHOW  -  698 words
  • Page 1 Advertisements

  • PRIME NEWS
    • 27 2 These Yu Neng Primary pupils took part in a mock fashion show as the school commemorated Racial Harmony Day on Tuesday. TAY KAY CHIN
      TAY KAY CHIN  -  27 words
    • 778 2  -  Singaporeans should be mentally prepared that current economic conditions may worsen Si ALLISON LIM IF CENTRAL Provident Fund rates have to be cut, the Government will consider introducing assistance schemes for workers like those it implemented in 1986 during the recession, Manpower
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    • 356 2 THE family of a Silk Air crash victim, has filed a US$25 million (Ss42 million) negligence suit in New York against Boeing, the manufacturer of the ill-fated jet. Law Firm Kreindler Kreindler filed the suit tor American victim Suzan Picariello, 49, who was American Express
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    • 571 3  -  After Aug 1, Malaysian rail immigration and Customs checks will carry on here under interim arrangements /h/1 ZURAIDAH IBRAHIM SINGAPORE will allow Malaysia to have temporary railway Customs, immigration and quarantine (CIQ) clearances here when it moves its own facilities to the new Woodlands train checkpoint
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    • 495 3  -  BRENDAN PEREIRA IN KUALA LUMPUR DECIARING that Malaysia is not in denial mode, the country’s National Economic Action Council on Thursday unveiled its long-awaited recovery’ plan to steer the country out its first recession in a decade and back onto the growth trail. If all goes
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    • Article, Illustration
      51 3 COIN TRAIL l Some 1,200 Singapore and Ngee Ann polytechnic students publicise their fund-raising effort for the National Youth Achievement Award scheme by laying down 250,000 20-cent coins, taped together in strips, over a 5.6-km trail along Dover Avenue, Commonwealth Avenue and Clementi Road last Saturday. STEVEN I
      STEVEN I KK  -  51 words
    • 379 3  -  LEE RIM CHEW IN MANILA SINGAPORE Foreign Minister S. Jayakumar on Thursday added his voice to a chorus of opposition to a proposed move to change Asean's non-intervention policy. He told reporters on his arrival here for the annual ministerial meeting: “I agree with foreign ministers Ali
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    • 216 3 PRESIDENT Ong Teng Cheong began chemotherapy treatment yesterday after a medical test showed that his lymphoma had recurred. Lymphoma is a cancer of the lymphatic system, the body’s drainage for the fluid called lymph that fights infection. The Prime Minister’s Office said yesterday that
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  • HOME
    • 378 4 The overall tourist figures for lune fared even worse than the talf year as a result of the crisis TOURIST arrivals fell by 17.2 per cent in the first half of the year over the same half last year, to 3.05 million visitors. Worst hit were
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    • 448 4  -  DOMINIC NATHAN MANGROVES and marshes lining Singapore’s last major river still left in a natural setting will soon be cleared to make way for new waterfront housing. The southern section of Sungei Punggol, lined with mangroves and mudflats that are rich with birdlife and other fauna and
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    • 340 4  -  JASBIR SINGH PRIVATE security companies here say they are doing a roaring business, servicing contractors who w'ant to make sure that their foreign workers are repatriated, and do not run aw’av. Twenty security agencies contacted said that in the first six months of this year,
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    • 151 4 NATIONAL servicemen must be operationally ready at all times, but military commanders will be flexible to those who need to have their in-camp training deferred, especially when the economy is in trouble, said Minister of State (Defence) Matthias Yao. “People need to continue to do
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    • 989 5  -  Caught in the economic squeeze, more are turning to illegal lenders and finding it nasty By SHARON VASOO and CHUA CHIN HON WHEN Mr Mohammad Asri’s company stopped giving overtime pay to its drivers, he found it hard to support his wife and 10-year-old daughter
      SHIN MIN  -  989 words
    • 423 5 NEW borrowers are usually recommended by regulars, said Ah Seng (not his real name), 42, who has been a loan shark for almost 10 years. For $5OO to $l,OOO loans, an identity card, which he will photocopy, is enough “security”. If they want more
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    • 377 5  -  *L AHMAD OSMAN MR J.B. JEYARETNAM said on Thursday that he could be made a bankrupt and lose his seat in Parliament as he could not pay the damages and costs for defaming the Prime Minister.
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    • 526 6  -  By WALTER FERN ANDEZ DINNER time was disrupted for families all over Singapore on Sunday when water supply to about 30,000 Housing Board flats, private homes and coffeeshops was cut off abruptly at 5.30 pm in a symbolic water rationing exercise. For two hours,
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    • 312 6  -  By ELENACHONG A WOMAN from China who made headlines here in 19.96 when she claimed a share of the family business of the Singaporean husband she divorced was yesterday cleared of making a false declaration in her affidavit for maintenance in 1992. Elated. Madam Shi
      \zizmsMs  -  312 words
    • 510 6  -  Top students will spend three years here and two at a foreign university to earn two degrees *1 SANDRA DAVIE TOP students from the National University of Singapore will graduate with two degrees in a radical joint-degree programme which the university is planning
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    • 344 6  -  *L WONGCHEEMENG SINGAPOREANS who work overseas can have their children’s hostel fees paid for by 50 per cent or even in full if they send their children back here for their secondary education. This arrangement comes under the new Boarding Awards Scheme,
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    • 431 7  -  Signature dishes created by a panel of experts will be served to all passengers on key routes Hu EVELYN YAP VERY soon, when you fly Singapore Airlines, the stewardesses may not come around just offering: “Chicken or fish, ma’am?” Instead, the choice may
      I.IAMIK WANBAO  -  431 words
    • 368 7  -  Btt WENDY TAN UNEMPLOYMENT here could hit 4 per cent by the end of this year, and could even reach 5 to 7 per cent next year if the economy slips into recession, said labour MP Lim Swee Say, an NTUC deputy secretary-gener-al. With a
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    • 68 8 HII6S AND WISHES: Four members of the Raffles Girls’ Secondary School Choir share a quick hug and wish each other luck as they wait nervously in the wings of Victoria Memorial Hall before their performance at Victoria Theatre last Wednesday. Seventeen other school choirs, from primary to
      SAMVEL CHI'A  -  68 words
    • 461 8  -  Teachers will get more time to provide computer-based learning, infuse thinking skills SANDRA DAVIE SCHOOL syllabuses will be cut across the board at all levels from next year, Riving teachers more time to provide comput-er-based learning, and infuse thinking skills and national education
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  • Page 7 Advertisements
    • 179 7 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
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  • Page 8 Miscellaneous
    • 1061 8 RADIO SINGAPORE INTERNATIONAL (ENGLISH) PROGRAMME SCHEDULES 1100 1400 Hours (GMT) 6015 KHz (49M BAND) 6150 KHz (49M BAND) MONDAY 1100 News 1109 Business Market Report 1115 Arts Arena 1130 News 1135 Wired Up 1145 Newsline 1200 News/Weather (AsiaPacific) 1210 E Z Beat 1230 Business Market Report 1235 The Written Word
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  • SPORTS
    • 637 9  -  TEE OFF By S.MURALI THE talking point in Singapore sport has been Balestier Central’s “unsporting” act during a mid-week S-League soccer match. As a Tanjong Pagar player lay injured, his goalkeeper kicked the ball out so that his teammate could receive treatment.
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    • 305 9  -  BADMINTON »1L THOMAS KOH TRIPLE national badminton champion Patrick Lau must be one of the happiest men in Singapore. For it looks likely that he will be partnering one of the world’s most lethal men’s doubles players in a few months’ time. The Singapore Badminton Association
      JKHRYSF.iI  -  305 words
    • 723 9  -  Referees insist there is more violence but S-League players, coaches feel they are card-happy SOCCER SIL f SANTOKH SINGH PETER SIOW DID World Cup fever get to the referees or the players in the SThere were nine sackings in 10 matches after last week’s France
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  • MALAYSIA
    • 376 10  -  This, plus another $2.5 billion to be borrowed on the domestic front, may help revive economy DOUGLAS WONG IN Kt'ALALI’MPI'R THE Malaysian government will borrow US$3 billion (SSS.I billion) from overseas and RM6 billion (552.5 billion) from the domestic market to boost its economy. Deputy
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    • 178 10 AFP, Bernama KUALA LUMPUR The Group Editor of Malaysia’s top newspaper Bcrita Marian. Ahmad Nazri Abdullah, resigned last Saturday less than a week after the abrupt departure of another leading editor shook the local media industry. Malaysian Resources Corporation Bhd (MRCB) said that his resignation was
      – AFP,; Bernama  -  178 words
    • 381 10 New Straits Times, Reuters Reuters KUALA LUMPUR Kuala Lumpur’s troubled new international airport is wrestling with one more problem rats. A recent flight was delayed for up to 15 hours after a rat was discovered in the aircraft, prompting a large-scale rat extermination at
      New Straits Times, Reuters; Reuters; NST  -  381 words
    • 517 10  -  By BRENDAN PEREIRA IN KUALA LUMPUR THE levy on lorries carrying goods to and from Singapore may be increased by up to Msl,ooo (SS4IO) from the current Ms2oo a lorry if importers and exporters continue to ignore Port Klang, warned Transport
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  • SOUTH-EAST ASIA
    • 194 11  -  By LUZ BAGUIORO IN MANILA SOME of his official decisions may seem tentative and even self-destructive, but President Joseph Estrada could not be faulted for one thing he does not waste any chance to show he is more than just a reel
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    • 349 11  -  This is in addition to the 2.8 m unemployment figure forecast for Thailand this year lit, EDWARD TANG THAILAND CORRESPONDENT BANGKOK More than a quarter million Thai workers could lose their jobs in the coming months if their employers are unable
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    • 155 11  -  *L DOMINIC NATHAN SUNKEN treasure is believed to have been found about 50 km off the coast of Brunei and salvage work is underway in a mission shrouded in secrecy. Ships from Singapore are being used in the diving operations and divers have been recruited from
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  • Page 11 Advertisements
    • 350 11 I# Founded 1905 National University of Singapore Graduate School of Engineering ADMISSION TO GRADUATE COURSES (JANUARY INTAKE 1999) Applications are invited for admission to the following full-time Graduate courses in the 1998-99 academic year (commencing 4 January 1999): Master of Science in Civil Engineering Master of Science in Chemical Engineering
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  • COMMENT
    • 589 12 TUESDAY July 21,1998 IT IS not difficult to see why Prime Minister Goh Chok Tong chastised those who criticised last month's offBudget measures to cut business costs and stimulate the economy. It is important for the business community not to confuse the public at the very time
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    • 764 12  -  §IL CHUALEE HOONG THE doors of the MRT train slid open and the young man hurtled out along witn the torrent of other passengers. Shrugging his suit straight, ne made for the escalator, the coils of his internal alarm clock
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    • 586 12 MONDAY July 20,1998 INDONESIA received a reprieve last week when the International Monetary Fund (IMF) approved the payment of a US$l billion (551.66 billion) loan. It was announced also that donors had agreed to top up the current financing package with another US$6 billion. In another
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  • COMMENTARY
    • 1165 13  -  MY VIEW LEONG CHAN TEIK COE prices are slumping and car-buying must be the farthest thing from the minds of Singaporeans facing an economic crunch. So what better time to review the COE scheme than when conditions are favourable for a dispassionate and objective analysis?
      LI'DWIC ILIO  -  1,165 words
    • 916 13  -  BY THE WAY By TAN SAI SIONG PRIME Minister Goh Chok Tong is quite right to caution against being gloomy and fearful about the fature as “gloom can be self-falfill-ing and lead rapidly to doom”. But it is also true that it has become more
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  • INSIGHT
    • 1938 14 Singapore workers are bracing themselves for choppy seas as the economy threatens to go into a recession. Will there be enough help if they lose their jobs and send an SOS call? CHUAHUI mm finds out. CONSIDER this: 90.000 to 126,000 Singaporeans are
      voei.hosai t:s  -  1,938 words
    • 1053 15  -  THINKING ALOUD B'J ASAD LATIF THE economic downturn touches the core of Singapore’s success: full employment. It is full employment that sustains a range of national institutions, from the Central Provident Fund and public housing to, arguably, meritocracy and multi-racialism. The crisis will
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    • 910 15  -  THIS WEEK IN POLITICS KOII BUCK SONG ASEAN information ministers, meeting in Bangkok last week, have given the go-ahead to the setting up of an Asean satellite channel. The channel, scheduled to operate two years from now, will have its air-time shared among member countries.
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  • MONEY
    • 385 16 ANOTHER roller-coaster week for the local bourse as events in Japan and the US buffeted the Singapore market along with the rest of the region. In Singapore, a surprise jump in non-oil exports failed to ignite a rally on Monday as
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    • 77 16 ST Industrials Index The Straits Timas Industrials Indus dropptd 24.74 points on tho wook to 1070.34. DAY CLOSE TURNOVER Monday 1102.32 7.22) 121.450 ($281.800m) Tuesday 1062.52 (-39.80) 99.947 ($257.022m) Wednesday 1052.66 9.86) 101.938 ($216.776m) Thursday 1062.26 9.60) 123.673 ($227.069m) Friday 1070.36 8.10) 135.884 ($221.662m) BT-MM Index Tho
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    • 1893 16 Company 0«t« ann Nat asm TV LY <$m> (Sml EPS TY LY (cts) (Ctl) AnaPac Brow Jun 12 1 37.235 ***** 14.7 19.5 AsiaPac Land* Apr 30 P 3.707 36.089 050 5.10 Aiaiandra Hldq dun 30 P 9.575L 3.948 32L 13.1 Am ĕfĕ H Mar 26 P 7.425
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    • 177 16 RIGHTS ISSUE [>- Books Acc 6 Company Ratio date close Paymt Pan M'sien one-for-one 9-RM0.S0 Jul 31 Aug 7 NA Pac Contury Sis-for-ten t»S$1.00 Jun 24 Jull Jul 21 BONUS ISSUE Books Company Ratio date close Zagro One-for-one Jull Jul 8 Jul 23 Liang Huat Ono-*or-ono Jul 2
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    • 30 16 Company Rights Issuo AslaMetrix ton rights (each wrt snares with carrying 3 warrants Rts to sub» tor every ten existIng shares Company Bonus Issuo Metalock two-tor-one IDT one-tor-two
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    • 51 16 Company Ploto Data Tima Marco A 247 Tanglln RO Aug 3 12.00n Polo S'poro (*****5) Jack* Int A 7500-E Boocn Rd •03-201 Tho Plato (*****5) Jul24 1140am Mataloc* E Orchid Rm Rlvor Viow Hotol 382 Havolocli Rd Aug 4 10.15am A; ACM, t: ECM, W: Warrantholdort Mooting, S:
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    • 217 16 Paymant (eta) b data Book» dosa Pay data Acma 50c F 7.5 Jul 2 Jul 9 Jul 22 Ala»andra 50c b IS Sap 9 Sap 16 Oct 6 Amara 20c b 0.4 JullO Jul 17 Jul 30 Apollo F 1 Jul 1 Jul 6 Jul 20 AV Janmngs
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    • 1215 16 Payment E* (ct.) date Books dose a Form Hidgs F 0.5 Jul 9 Jul 16 Jul 31 Fuji Offset 20c b 2TE Jul 6 Jul 13 Jul 23 Flentecn 15c b 0.4 Jul 3 Jul 10 Jul 23 FHTK 20c b 0.5 Sep 22 Sep 29 Oct 8
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    • 627 17  -  But Schroders says the region's ability to bounce back may nave been under-estimated liy NG WEI 100 IT WILL be a long haul for Asia but things may not be as bad as they look. These were the reassuring words from one of the three
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    • 143 17 COUNTER RATES i Buying OD Selling Singapore dollars to one unit of foreign currency US dollar 1.6829 1.7189 Sterling pound ***** 2.8521 Australian dollar 1.0319 1.0758 Canadian dollar 1.1176 1.1543 0.8643 0.9035 EC unit 1.9087 Singapore dollars to 100 units of foreign currency Austrian schilling 13.1456 13.8678 Belgian franc
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    • 111 17 Cowl reel dale: July 24 1998 Unit On# mth l mthi 6 mtht 9 mth* 12 mth* Call V*lu* d*t* US$ 5 5/. 57. 57. 57« 47, 28/7 A$ «7.. 4V, 47, 47, 47, 37. 28/7 NZ 67, 67« 67. 6»/« 7 5/, 28/7 STC 6'7, 77.
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    • 825 17 Managers' prices: July 25,1998 Aberdeen Anet Mgt Alla Ltd Aberdeen S'por* Or Fund 0.703-0.739** Abardaan Salact Portfolio (at N A V) C:"*i»»ntal Europe Equity Fd Japan Equity rd 0.950** 0.950** 0.930** 0.821** 0.471** 0.735** 0.739** Slngaport Equity Fund 0.679** AIB Oovatt (Alla) Ltd Covott Alia Pacific Growth Fd
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    • Article, Illustration
      43 17 IN CURRENCY The back (bottom) and front of the new RMSO note being shown in Kuala Lumpur on Monday. The bluish-green note, circulated from Monday, is smaller than its predecessor, measuring 145 mm bv 69mm. It incorporates additional security features. KKI’TF.RS
      KKI’TF.RS  -  43 words
    • 267 17 MANUFACTURING INVESTMENT SINGAPORE’S manufacturing sector may not meet its fullyear foreign investment target although its first-half result was on course, the Government wamedon Wednesday. The Republic attracted about $4 billion in the first sue months, half the Government’s target for this year. But Economic Development
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    • 3870 18 Transaction date: July 24,1998 INDUSTRIAL COMMERCIAL 1998 High Low Company Curr Last Traded Sale ♦OfVol 000 Day High Low Or*» Oiv Nat M Cap P/E Smll Wt Avg Price 43 12.5 ACE Dynamic s20c 15 ♦05 67 15.5 14.5 0.1 18.8 12.3 14 31 19.5 a ASACeramic
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    • 854 18 1998 High Low Company Curr Lait Traded Sola ♦orVol 000 Day High Low Or'* Olv N*t P/l M Cap Wt Avg $mll Price 134 50 e ABR Hidgs 5c 79 38 5 79 243 64 AS Auto iOc..._„. 66 ♦0.5 161 67.5 66 15.ON 6.2 75.4 66 82 48
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    • 1515 19 BONDS, LOANS WARRANTS Transaction date: July 24,1998 1998 Last Vol Day Last Quota m Avg High Low Company Sala ♦or* 000 High Law Buyer Sellar Price 23.5 9 m m AMDS c5.*****0216 10.5 9.5 11 20.5 5 “Acer *******1 USS 5.5 5 6 95 85 AcmaWO'0724 10 ♦1 11 10
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    • 1116 19 Transaction date: July 24,1998 1998 High Low Company Curr Tradad Last Sait vol ♦or* '000 Day High Low Gross dlv Nat P/E M Cap Smll MALAYSIAN STOCKS (in S$) 135 65.5 28 12.5 m unch unch 27 85 41 14 40 13.5 5.0 5.0 4.0N 10.0 6.0 17.0
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    • 715 20  -  But economy is not out of the woods foreign trade may shrink by up to 5.5% for full year By Bi/ NARENDRA AGGARWAL SINGAPORE’S key non-oil domestic exports shot up a surprising 6.1 per cent last month, but the news brought little cheer as
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    • 555 20  -  Btl TAMMY TAN IT IS a little-known fact that calls to the Civil Service’s main telephone lines are not answered by civil servants, as you would expect, but by Singapore Telecom (Sing Tel) operators sitting in a small, obscure building in Hill Street. Yet this
      STEVEN LEE  -  555 words
    • 215 20  -  Btl NG WEI JOO GREAT Eastern Life on Monday announced a new life insurance product for people worried about the expense of falling ill but who cannot afford the normal premiums amid the economic crisis. The Living Assurance Protector plan, which kicks off next month, offers substantial
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  • Page 21 Advertisements
    • 800 21 fTw Li p The Stock Exchange of Singapore is one of Asia’s leading stock markets. We are now seeking a suitable candidate to fill the position of: Development Officer Reporting to the senior management, the successful candidates responsibilities will focus primarily on assisting in formulating policies and strategies, conducting feasibility
      800 words

  • Page 22 Advertisements
    • 934 22 Singapore Engineering Software Pte Ltd ii'i S 3 P INNOVATION A I 'W v >4T V m X Y* c- P YOU SWITCH ON THE IDEAS FOR SUCCESS We design, develop and market total system solutions including advanced real-time decision support systems and mission-critical information systems that enhance the operations
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  • FORUM
    • 321 23 I REFER to the letter “Give Singaporeans job priority” by Mr Peter Sidwell (ST, July 15). Foreign workers arc admitted to supplement our local workforce to meet the manpower needs of the economy. They are admitted because they have skills which Singaporeans lack or take
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    • 295 23 IN HIS attempt to force Malaysian businessmen to use Port Klang for transporting cargoes, Malaysian 't ransport Minister Ling Liong Sik has slammed Singapore again, displaying his “big bully” attitude. Lest Dr Ling thinks that Malaysian businessmen are a bunch of “unthinking” people, the
      295 words
    • 123 23 I REFER to the letter by Ms Wvnthia Goh, “Let citizens overseas vote” (ST, July 9). Eligible voters who go or are overseas do not inform the Elections Department. They are also not required to register themselves with Singapore missions overseas. The Elections Department, therefore,
      123 words
    • 457 23 I REFER to the letter “Don’t let vagrant issue become a social problem” (ST, July 16). Your paper has been reporting the plight of abandoned Indian workers so frequently that the public may be led to believe that Singapore employers are a
      457 words
    • 269 23 MRNG Khee Jin’s comments on the British Airways advertisement, “Airline ad insults Chinese” (ST, July 16), are unfortunately a misinterpretation of the airline's rationale and intention behind a series of advertisements based on familiar Chinese opera characters. British Airways considers all its passengers with due
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  • 443 24  -  I 2IL CHANG AI-IJEN A SUNKEN empress has given up a host of historical treasures from her watery tomb near the Sultan Shoal lighthouse off Tuas. Army uniforms, machine guns, china cups and plates and a four-tonne anchor were among the finds taken
    C CH \\ l)K ADAS; ALPIIONSOCIIAN  -  443 words
  • 538 24  -  Reasons for first drop since 1994 launch: belt-tightening, stores jumping the gun, fewer tourists Bij KALPANA RASIirWALA MAJOR retailers taking part in this year’s Great Singapore Sale have reported drops of up to 20 per cent in takings on last year the first falls
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