The Straits Times : Weekly Overseas Edition, 12 September 1998

Total Pages: 24
1 24 The Straits Times : Weekly Overseas Edition
  • 21 1 The Straits Times Weekly Edition Saturday September 12, 1998 Price: S$ 1.20 (in Singapore) Elsewhere by subscription only MITA (P) 080/08/98
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  • 499 1  -  Four programmes launched to help tackle the rise in the unemployment rate in Singapore «>/ AHMAD OSMAN THE Manpower Ministry has launched four programmes to tackle the worsening job situation, which saw the number of unemployed people jump to 62,100 in June this year,
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  • 108 1 First time since mid-1980s recession that workforce shrank by 0.3 percent. Jobs lost exceeded the number created bv 5.863. 62.100 unemployed in June, up from 45,500 in June last year. 14,440 workers axed in first half of 1998, up from 9.784 in whole of 1997. Job
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  • 312 1  -  By EVELYN YAP SINGAPORE Airlines took steps to ensure that it will remain a great way to fly in the face of increased competition by unveiling yesterday a $5OO million overhaul of all its cabins. Spacious seats that recline to 180 degrees in first class
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  • PRIME NEWS
    • 436 2  -  Ten world-class institutions will be brought in to collaborate and compete with local varsities. They will help build up a knowledge-based economy SANDRA DAVIE SINGAPORE is wooing 10 world-class universities to either set up their own branch campuses here or team up with local
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    • 417 2  -  fh. GERALDINE YEO SINGAPORE'S two-week old city-w’ide Electronic Road Pricing (ERP) system got the thumbs up from several visiting international transport experts on Thursday. They found the development of the system, the public- ity and the fitting and testing of In-vehicle Units (lUs) “impressive”.
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    • 409 2 SINGAPORE will have a national centre for aeromedicine in a few years’ time, to focus on the medical problems and complications associated with flying. It will deal with the health risks of pilots, as well as aircraft passengers. The first step was taken last year
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    • 675 3  -  KL exchange denies deal on transfer of shares. And KL may introduce a capital gains tax DOLGLAS WONG l\ KUALA LUMPUR THE last days of Singapore’s over-the-counter trading in Malaysian shares were jolted on Thursday with the Kuala Lumpur Stock Exchange denying it had
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    • 241 3 THE Stock Exchange of Singapore (SES) on Thursday said it was “puzzled” by the Kuala Lumpur Stock Exchange’s (KLSE) denial that an agreement had been reached concerning the migration of Clob shares. It said SES officials would meet KLSE officials on Friday to ascertain the reasons for the
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    • 393 3  - Surp rise invite as Aware delivers petition K,, ZUZANITA ZAKARIA LEADERS of the women’s group Aware received a surprise invitation when they handed the Indonesian Embassy a petition against the alleged rape of ethnic Chinese in Indonesia. Embassy officials accepted the petition, but produced a list of 22 Indonesian maids
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    • 211 3  -  AHMAD OSMAN EMPLOYERS and union leaders have come out in support of the move to reconvene the National Wages Council on Sept 23 to review its wage guidelines for the year in view of the deteriorating economic situation. The Manpower Ministry announced the date
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  • PARLIAMENT
    • 725 4 Manpoiver Minister Lee Boon Yang explained to MP.s last Friday why the National Wages Council was being reconvened and fielded a range of questions on the cutting of CPF. Beloic are excerpts of the debate. MANY Asian countries were now more competitive than Singapore because
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    • 298 4 MANPOWER Minister Lee Boon Yang explained for the first time last Friday why West Malaysians are treated differently from other foreigners by the Central Provident Fund. Historical links and geographical proximity led to the distinction between East and West Malaysians. He said that many West
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    • 539 4 SUFFER PENALTIES FOR IMMIGRATION OFFENDERS PARLIAMENT passed a Bill last Friday which clamped down hard on immigration offenders, a record number of whom were caught this year. The amendments to the Immigration Act included: Stiffer penalties for illegal immigrants, their smugglers and employers. Imposing the
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  • HOME
    • 478 5 Heart surgeons will coordinate heart disease cases to ensure same standard of care for all A NATIONAL team of heart surgeons has been appointed to take care of all heart disease patients who need to undergo complex surgeries such as heart bypass operations. Professor Lim
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    • 476 5  -  Bi, ALLISON LIM AFFLUENCE, the influence of other cuisines and the desire to “spice" up traditional foods artcausing more Singaporeans to be stricken with heart disease, says tw'o professors at a heart conference here. While Singaporeans have not forsaken their traditional foods for high-fat
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    • 514 5 P A R L I A M ENT SINGAPORE will continue with its humanitarian help for Indonesia, and officials from both sides are working out details of the second delivery of the $l2-million rice and medicine aid package pledged by the Republic. Foreign Minister
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    • 538 6 Singapore’s cultural diversity is a strength only if there is social cohesion, PM Goh tells media THE media may play an important role in transmitting cultural values which hold a nation together and provide the tools for economic success, but the promotion of language and
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    • 491 6  -  Bu LEONGCHANTEIK THE Land Transport Authority (LTA) said last Saturday that it has recovered a total of S2B million in car taxes from Toyota distributor Borneo Motors and two parallel importers. They had under-declared the import costs of 5,000 Toyota cars, which were
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    • 395 6  -  !hj_ GINMETEO A CHINESE physician was sentenced to 10 months'jail last Friday for causing hurt to a woman through his co-lon-cleansing treatments, in what the prosecution termed as “one of the worst cases” of the sort. Lim Poh Eng. 57. was found guilty
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    • 506 7  -  Oil LEONG CHING LESS than a year into the economic downturn, 60 per cent of Singaporeans say they have been hit, with 16 per cent complaining of being “hit badly". A new Straits Times survey of 400 people show that one in two are
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    • 533 7  -  fill} LEONG CHING SINGAPOREANS have come out strongly behind the Government over the dispute with Malaysia on the move of Customs, Immigration and Quarantine (CIQ) facilities to Woodlands, according to a new survey by The Straits Times. Of the 400 people polled, over 80
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    • 496 8  -  The 90-year-old station will undergo major reconstruction work at a total cost of sB.6m Oil JOANNE LEE EVEN grand old ladies need facelifts these days. But. in the case of the 90-year-old Central Fire Station in Hill Street, redevelopment plans include a major internal
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  • Page 7 Advertisements
    • 299 7 :W JL Of m. > d while abr ic ai>r r BOARDING PASS TheStnui-nnies h jr>: i ~mif Cuu* 6m! Economy T#rw *Ume S«*t Ffem Singapore Nttrr* Tb USA, London or Australia MtftASt M f At rm »o*mo»«c Gar* x mtturtt mkm mmmhun» tm «1 USA, London or Australia d’Kh
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  • Page 8 Miscellaneous
    • 1062 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
    • 540 9  -  Sasikumar’s 71-minute goal helps Lions lift Tiger Cup in Vietnam in historic first regional title By SANTOKII SINGH IN HANOI R. SASIKUMAR was asked to mark Vietnamese dangerman Le Huynh Due out of the match. He did that and more: he scored the winner as Singapore lifted
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    • 590 9  -  Bu TAY CHENG KHOON THE Football Association of Singapore has nominated the Tiger Cup-winning side for December’s Asian Games in Bangkok. The application was sent to the Singapore National Olympic Council on Monday. Said FAS president Ibrahim Othman: "We promised the players that if they
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  • MALAYSIA
    • 835 10  -  Malaysian PM reveals that his ex-deputy’s sexual conduct was main reason for shock dismissal 81l BRENDAN PEREIRA IN KUALA Ll'MPl’R PRIME Minister Mahathir Mohamad disclosed on Tuesday that he had planned to retire this year and make way for Datuk Seri Anwar Ibrahim, his anointed
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    • 479 10 KUALA LUMPUR Sacked Malaysian Deputy Premier Anwar Ibrahim has rejected Prime Minister Mahathir Mohamad's claim that moral reasons were behind his dismissal. "The reasons given for my expulsion because of my lowmorals are unacceptable because there have been no formal charges against me," he told
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    • 291 10 Bloomberg KUALA LUMPUR Malaysia's credit rating was cut to below investment grade, or junk status, by Fitch IBCA on concern the country's capital controls imposed last week could cut off investments in the country. Fitch IBCA downgraded Malaysia’s long-term foreign currency rating two
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  • SOUTH-EAST ASIA
    • 792 11  -  Indonesian President appeals for patience as thousands protest in Surabaya during his visit to city SUSAN SIM INDONESIA CORRESPONDENT REUTERS. AFP JAKARTA Thousands of students in the eastern Javanese city of Surabaya took to the streets on Wednesday to signal their unhappiness with President B.J. Habibie’s
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    • 394 11  -  By EDWARD TANG THAILAND CORRESPONDENT BANGKOK In a first test of Thailand’s new “people power” charter, civic leaders are gathering 50,000 signatures from the public to demand the sacking of several ministers implicated in a corruption case. The leaders of 28 non-gov-ernmental organisations
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    • 47 11 AFP BANGKOK National elections in Thailand have moved closer with the announcement yesterday of the re-drawing of 4(X) constituencies nationwide. The National Election Commission said details of the new boundaries would be tabled in the Royal Gazette on Tuesday and become effective on Wednesday.
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    • 277 11  -  By NIRMAL GHOSH PHILIPPINES CORRESPONDENT MANILA Corruption charges have shaken government departments in recent days, hurting the credibility of key officials. The Commission on Higher Education, the Armed Forces and the Department of Health have all been affected by allegations of misuse of funds. Possibly
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  • COMMENTARY
    • 591 12 SATURDAY September 12,1998 THE Manpower Ministry’s report on labour market conditions paints a sombre picture, with a net loss of .3,863 jobs over the April-to-June quarter, and retrenchments hitting 14.440 in the first six months. And where in good times there were 2..3 job vacancies available
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    • 596 12 THURSDAY September 10,1998 WHEN bonuses go, and wages are frozen before being pared, can a CPF cut be far behind? Unfortunately not, it appears. Given the Central Provident Fund's status as a national institution a position it shares with a few others such as the Housing Board
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    • 803 12  -  SECOND LAST WORD f*!L ALANJOHN A BOY like Bathurudutheen Syed Abu Bakar need not have made the news last weekend, but he did. He is a bright 11-year-old who had been doing well at Stamford Primary School, and all was fine until his family moved
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    • 1031 13  -  MY VIEW 7 ASAD LATIF MR LING How Doong perfected it. Then came Mr Ang Mong Seng, whose own prowess at the art resulted in his beating the Singapore Democratic Party incumbent to the MP seat during the 1.997 election. I am speaking,
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    • 941 13  -  BY THE WAY H'j TAN SAI SIONG MR WYWY Wong, also known as Mr Wong Yip Yan. and Singapore's inveterate Mr Great Heart, reiterated in a recent interview that his goal in life was to “keep on growing and giving". It
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  • INSIGHT
    • 1838 14 Be realistic, but not despondent this teas the main message the Prime Minister conveyed to Singaporeans in Ills National Day Rally speech. But June do people walk the thin line between realism and pessimism? LEONG CHING discusses the findings of the latest Straits
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    • 972 15  -  MALAYSIA, CLEARLY, WILL BECOME A TEST CASE FOR THOSE WHO QUESTION THE EFFICACY OF THE INTERNATIONAL MONETARY FUND'S BAIL-OUT-WITH’REFORMS ORTHODOXY. THINKING ALOUD /CHL A LEE HOONG MALAYSIA’S hold experiment with currency controls is a high-risk venture hound to be watched closely bv the
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    • 916 15  -  LAST WEEK IN POLITICS CHL A LEE HOONG WHAT an eventful week it had been. Malaysia hogged the headlines first with its announcement of capital controls, a move which sent shock waves round the region. Hot on its heels came the sacking of Deputy
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  • MONEY
    • 360 16 THE new benchmark Straits Times Index broke new ground this week as it ventured higher on the back of the resumption of Clob Trading, which boosted both trading volume, as well as sentiment. The STI continued to forge ahead and almost touched 900 points
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    • 76 16 Straits Times Index The Straits Timas Indtx rosa 48.15 points on tha waak to 853.19. DAY CLOSE TURNOVER Monday 862.10 (+57.06) 219.194m ($262.472m) Tuesday 868.68 (*6.58) 194.971m ($238.397m) Wednesday 885.46 (+16.78) 601.361m ($297.100m) Thursday 865.00 (-20.46) 398.837m ($246.603m) Friday 853.19 (11.81) 316.752m ($184.854m) BT-SRI Index Tha BT-SRI
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    • 1740 16 Company Dot# inn Nat aam TV LY (Sm) ($m) EPS TV LY (eta) (eta) Acar Aug 20 1 0.352 17.802 0.21 10.8 AsiaPac Braw Jun 12 1 37.235 ***** 14.7 19.5 Aienandra Hldg Jun 30 P 9.575L 3.948 32L 13.1 ANA Hotels Aug 26 1 0.230 1.317 0.48
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    • 143 16 RIGHTS issue e*Books Acc t Company Ratio data close Paymt Pan M'slan ono-for-ono (PRM0.50 Jul 31 Aug 7 Sap 24 BONUS issue (IBooks Company Ratio data close Motalock Two-for-one Aug 25 Sap 1 NA IDT One-for-two Aug 17 Aug 24 NA OTHCRS ClBooks Acc 6 Company Ratio data
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    • 28 16 Company Rlqnti ittuo AsieMetri* (each wrt carryinq Rtt to tub) tan rights shares with 3 warrants for ovary ton ousting shares Company Bonus Issue Oatacraft One-for-one
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    • 142 16 Company Placo Date Time Advanced Sys Auto A 54 Serangoon North Avonuo 4 S'poro (*****4) Sop 16 11.30am FHTK A 231A Pandan loop S'poro (*****9) Sop 18 12.00n Ccon Intcrnl A 2 Anq Mo Kio industrial Park 3 S'poro (*****4) Sop 18 11.30am Transmarco A 391B Orchard Rfl
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    • 886 16 Payment (eta) Cx data Book! ClOM Pay data Alexandra 50c 1.5 Sap 9 Sap 16 Oct 6 Auitraland A 50c 1 5 Auq 31 Sep 7 Sap 18 ABN-AmroNlG1.25 1 60 Auq 24 Sap 7 Sap 11 ASA 10c b 1.5TE Sap 22 Sep 29 Oct 13 Arab
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    • 426 17  -  Important that risks associated with deals must be more than compensated by the returns TAMMY TAN SINGAPORE Telecom (SingTel) is looking actively for suitable investments in the region despite the growing economic uncertainty, hut stressed that risks associated with such deals must be more than
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    • 399 17  -  Bu NG WEI JOO TRADING in the new Simex MSCI Singapore Stock Index (SiMSCI) futures got off to “an enthusiastic start" on Monday, with 437 contracts done by the market's close. Dealers said the Singapore stock market also received a fillip from trading
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    • 137 17 COUNTER RATES Buying OD Selling Singapore dollars to on* unit ot tor»lgn currency Singapore dollars to one unit of fortign currtncy 1.7037 1.7439 2.8518 2.9565 1.0043 1.0496 1.H32 1.1522 0.8664 0.9083 2.0386 Singapore dollars to 100 units ot foreign currency Austrian schilling 14.0808 14.8769 4.8212 5.0597 25.7825 27.2610 100.1793
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    • 103 17 Contract date: September 11, 1998 Unit On• mth 3 mth» 6 mth* 9 mth* 12 mth» CM Value date 415/16 415/16 47/8 43/4 411/16 47/16 AS ...43/8 43/8 43/8 47/16 47/16 33/4 15/9 NZ 413/16 47/8 415/16 51/8 55/16 41/8 15/9 STG 67/8 67/8 63/4 65/8 65/8
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    • 825 17 Managers' prices; September 11,1996 Aberdeen Asset Mgt All* Ltd Aberdeen S pore Gr Fund 0.571-0.601** Aberdeen Select Portfolio (et NAV) American OpportumtietFd 0.919** Jepen Equity fd 0.958” 0.897*' 0.712** 0.446** Malaysian Equity Fund Phihppint Equity Fund 0.704“ 0 467“ 0.554** Thailand Equity fund 0.757** AIB Govett (Alla) Ltd
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    • 3968 18 Transaction date: September 11,1998 MULTI INDUSTRY 1998 High Low Company Curr Last Traded Sale ♦or* Vol Day 000 High Low Or** Oiv Nat M Cap P/E Smil Wt Avg Prict 142 49 5 i m t Acma 50c 57 ♦5 43 57 53.5 27.5 4.0 94.3 56
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    • 859 18 1998 Hi9h Low Company Curr Last Traded Salt ♦orVol '000 Day High Low Gr‘* Oiv Ntt P/t M Cap Smil Wt Avg Price MANUFACTURING 243 30 ’AS Auto 10c 62 Cd ♦6 2252 64 55 15.ON 5.8 82 48.5 ASj Hidqs 20c.... 54 2.5 10.4 260 85 Aiiamatruc SOc...
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    • 1414 19 BOOTS, LOANS WARRANTS Transaction Gate: September 11,1998 1998 Last Vol Oay Last Quote Wt Avg Hiqh Low Company Sale ♦or'000 High Low Buyer Seller Price 23.5 3.5 m mAMDBcS.5%*****6 6 ♦0.5 113 6 5 5.5 6 20.5 3 'Acer *******’USS 4 ♦1 6 4 4 4 55 95 5 AcmeWO’0724
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    • 1264 19 t9»e Cure Last Vol Day Gross Nat M Cap High Low Company Tradad Sal* ♦or000 High Low dlv P/E Smll MALAYSIAN STOCKS (in S$) 135 655 48 60 75 22 m 4.5 m 25 -2 1023 3964 25.5 22 5.0 9.7 256 49.6 .8.5cd ♦1 9 5.5 5.0
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    • 444 20  -  Following reverse takeover, latter will focus on financing growth companies, asset management and securities Hi, TAMMY TAN SINGAPORE Technologies Pte Ltd is staging a reverse takeover of stockbroking firm Vickers Balias Holdings that will create an enlarged entity with assets of $2 billion and shareholders’ funds
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    • 414 20  -  By KALPANA RASHIWALA NATSTEEL Electronics said it has penned a deal for a private placement of .39.1 million new shares to raise 8118.8 million to expand its facilities and buy new equipment. The shares are priced at 83.10 apiece, an 8.3 per cent discount
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    • 305 20 SINGAPORE’S largest pub-licly-traded brokerage, Vickers Balias, has tumbled into the red with an interim net loss of $49-6 million compared to a profit of $40.76 million during the same period last year. The group’s performance was dragged down by provisions totalling $82.1 million. It said
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    • 334 20 SINGAPORE’S Land Transport Authority (LTA) is likely to start raising funds by selling bonds in the second half of next year. It has said it needs about S 7-5 billion to finance new infrastructure projects in the next 10 years. “I would put my
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  • Page 20 Advertisements
    • 208 20 GAIN A STRATEGIC UNDERSTANDING 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 from one
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  • Page 21 Advertisements
    • 773 21 x'x’iviv x*;£;<v>:*#£>:*;^X£;v>;v.v:v>. ;v.v.v.v.\v.v.v.v.v.v.-.v.v.v.v.v The Straits Times Weekly Edition Switch your career to the industry leader Our commitment to Six Sigma Quality standards, has made a significant impact to GE Lighting’s business, with quality, improved efficiency and service as our priority. From our Singapore based regional headquarters and sales and distribution
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  • Page 22 Advertisements
    • 957 22 v> National Heart Centre SINGAPORE The National Heart Centre (formerly known as the Singapore Heart Centre) is the national centre for cardiovascular medicine in Singapore. It will become an autonomous centre in 1999. The NHC provides ambulatory and inpatient cardiac services, and conducts training and research. Applications are invited for
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  • FORUM
    • 682 23 Malaysia has made a historic move to isolate itself from the global economy by imposing foreign exchange and capital controls. The Malaysian government’s ultimatum to make 25 billion offshore ringgit valueless unless repatriated into Malaysia by Sept 30 is tantamount to daylight
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    • 195 23 CUTTING up a charge card and returning it to the card company appears not enough to terminate the charge card agreement. Early this year, I authorised a monthly subscription for a gym membership to be made against the card. In July, I cancelled
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    • 334 23 I REFER to the commentary “Bonding should come before streaming” (ST, Sept 5) by Sonny Yap. Our schools are committed to nurturing each and every pupil, regardless of ability, to achieve his maximum potential and total development. This is achieved by providing streams
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    • 415 23 THE BBC always claims that it provides unbiased news and reports in its World Service. Yet, almost invariably, when there is a mention of Singapore, you can bet that it will be very biased against Singapore, and often in a rather snide way. The latest example
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  • 551 24  -  Economic downturn has caused events such as art shows and investment meets to be scrapped lii ports hi/ EVELYN YAP SINGAPORE has lost about $92 million in earnings from cancelled conventions and exhibitions this year because of the regional economic downturn. Venue owners Singapore International
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  • 408 24  -  Hu TAN 001 BOON A HARDCORE criminal already serving 17 years of preventive detention was jailed on Wednesday for 19 years by the High Court for raping an underaged girl. Justice M.P.H. Rubin called Lee Kok San. 58, "a wicked man” for raping
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  • Article, Illustration
    70 24 dUKN NCtt Cheers rang out as 15 sea turtles were set free on Sentosa on Thursday. The release of the endangered species was part of Underwater World’s marine conservation efforts. Helping its staff were about 120 students from four schools. “We got the students involved as we hoped
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  • 239 24 THE Trade Development Board will sponsor half the cost of bringing trade buyers to Singapore in a bid to boost the flagging exhibition industry. Under its International Buyers Scheme, it will bear part of the costs of air fare and hotel rooms for trade buyers, up
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