The Straits Times : Weekly Overseas Edition, 3 October 1998

Total Pages: 24
1 24 The Straits Times : Weekly Overseas Edition
  • 22 1 The Straits Times Weekly Edition Satu relay ()ctober 3,1998 Price: S$ 1 .20 (in Singapore) Elsewhere by subscription only MITA (P) 080/08/98
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  • 258 1  -  By ZURAIDAH IBRAHIM IN SANTIAGO THE Government is likely to cut the employers’ Central Provident Fund contribution rate by 5 to 10 per cent, Prime Minister Goh Chok Tong said at a breakfast talk to businessmen here on Thursday. “We
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  • 697 1  -  He calls for US govt-Congress agreement on IMF funding and says Washington must take the lead in resolving the Asian crisis Report s by Rciu)t1fi by ZURAIDAH IBRAHIM IN NKWYORK THE United States Administration and Congress must set aside differences and agree on
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  • Page 1 Advertisements
    • 32 1 S I’ K T S Wong's On Fire Singapore bowler Jack Wong is on fire again as he clinches the Asian Tournament of Champions in Manila, sweeping aside Asia’s best. page 9
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    • 34 1 M ON K Y Gloom And Doom Singapore businesses fear that the imposition of ringgit controls by Malaysia may give rise to trade discrimination and other problems. page 17 *****6|.l 8 L Z 88
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  • PRIME NEWS
    • 735 2  -  Ex-DPM says he was beaten up by police, while two men convicted of being sodomised by him file appeal Reports by Reports by BRENDAN PEREIRA IN KI'ALA LUMPUR THE wait is finally over but not the drama. Datuk Seri Anwar Ibrahim was charged in the
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    • 528 2 STAY out of our affairs, Malaysian politicians said, in response to mounting international criticism over Anwar Ibrahim’s injuries suffered while in police custody. They also warned: Do not attempt to isolate Malaysia or Prime Minister Datuk Seri Dr Mahathir Mohamad. Do that
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    • 336 2 AFP. Bernama KUALA LUMPUR Malaysia yesterday said it was forging ahead with plans to welcome US President Bill Clinton and Russian leader Boris Yeltsin at an Asia-Pacific summit next month despite international concern over the detention of former Deputy Premier Anwar Ibrahim. Malaysian
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    • 523 3  -  The $6O million campus of the top French business school will be ready for its first intake in January 2000 By SANDRA D AVIE FRKNCH business school Insead, one of the world’s best, will start building its first overseas campus here by
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    • 102 3 ALAN LIM The first batch of the reprint of The Singapore Story: Memoirs of Lee Kuan Yew, has hit the bookstores. Borders Books in Orchard Road, which did not take reservations, put several hundred copies it got on Thursday afternoon on its shelves, only to find
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    • 350 3  -  By KWAN WENG KIN JAPAN CORRESPONDENT DEPUTY Prime Minister Brigadier-General Lee Hsien Ix>ong on Wednesday assured Japanese companies that Singapore would come out of the regional economic turmoil ahead of other countries because of its sound economy and its measures to
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    • 465 3  -  TRAINING PROFESSIONALS ABROAD By KWAN WENG KIN JAPAN CORRESPONDENT TOKYO The Economic Development Board (EDB) is to set aside $5O million over the next two to three years to fund the overseas training of 500 engineers and other professionals to ensure a ready
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  • HOME
    • 769 4  - Stand firm on ties with KL says PM Goh He tells Singaporeans to learn from downturn in relations, but thev should not let themselves be pushed around ZI’RAID AH IBRAHIM IN NEW YORK SINGAPOREANS should stand firm and not allow themselves to be pushed around in the present state of
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    • 811 4  -  By ZURAIDAH IBRAHIM IN SANTIAGO SINGAPORE and Chile are embarking on a proposal by Prime Minister Goh Chok Tong for an Asia-Latin America dialogue or forum to forge closer understanding in economics, culture, the arts and the environment. Europe, he noted, was linked
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    • 707 5  -  Instead, there are common principles like kinship, he says in interview conducted by HK ex-governor Chris Patten By GERALDINE YEO THERE is no single value system which encompasses all Asian societies, but there are common principles, such as family responsibilities and kinship. While these
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    • 531 5 Family values FROM time to time, a government breaks down or the system breaks down and parti) because of my own experience and partly because it was imbued into me that I owed certain obligations to people and they would help me, in turn, if
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    • 609 5  -  Bn IRENE NG PRIME Minister Goh Chok Tong’s lawyers on Wednesday rebutted a statement by the International Commission of Jurists, which condemned the recent Court of Appeal judgment in a defamation suit against opposition figure J. B. Jeyaretnam. The lawyers also criticised
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    • 613 6 He had successfully sued an Umno leader and Utusan Melavu in 1965 for allegations made against him SENIOR Minister Lee Kuan Yew has refuted statements by two prominent Malaysians who maintained that Umno was not involved in the 1964 racial riots here.
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    • 359 6 SINGAPORE'S tourism sector continued to nosedive, with visitor arrivals falling 11.7 per cent to 569,916 in August from a year ago, the Singapore Tourism Board said on Tuesday. But Singapore should still receive six million visitors this year, STB chief executive officer Yeo Khee Leng
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    • 586 6  -  Bu EVELYN YAP CHINATOWN will get a $97-5 million facelift that promises to bring out the full flavour of the sights, sounds and smells of the historic site, according to plans unveiled by Finance Minister Richard Hu last Friday. In three years, visitors can catch
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    • 449 7  -  The number of alcoholics seeking treatment has soared bv up to 40 per cent in the first half of 1998 B'l SHARON VASOO THE number of alcoholics in Singapore has risen sharply, with more women now seeking treatment. In the first half of this year,
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    • 433 7  -  'hi JOANNE LEE ’•'CR decades, neither Knew of the other’s existence. But when they met last weeK, there was not a shadow of a doubt in their minds that they were brother and sister. Singaporean Monica Choon. .53, and Japanese nalional Yoshiaki Mural,
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    • 415 7  -  TANHSLEH YUN and JASBIR SINGH THE first day of currency declaration into and out of Malaysia was mostly smooth sailing at the Causeway on Thursday morning, but there was some contusion among bus passengers in Johor coming to Singapore. Some did not know
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    • 249 8  -  One in 10 women in Singapore has it, says the study which covered 11 countries Br, ALLISON LIM MORE than 20 per cent of Asians have a bladder problem that sends them dashing to the toilet frequently or causes them to wet themselves,
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    • 228 8  -  Oil JANICE TAY 1997 annual report of the KK Women’s and Children’s Hospital. which has been produced as a baby book. The innovative report also marks the hospital’s move from Hampshire Road to bigger premises in Bukit Timah Road in March last year. Finding
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  • Page 7 Advertisements
    • 203 7 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 Asm Pacific Studies is an internationally recognised Master's level programme from one
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  • Page 8 Miscellaneous
    • 1060 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
    • 430 9  -  Wong atones for poor showing at C’wealth Games and earns the chance to compete against the world’s top pros next year BOWLING Hu THOMAS KOII SINGAPORE’S Jack Wong put the disappointment of the Commonwealth Games behind him with an inspired showing in
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    • 131 9 NETBALL SINGAPORE will have its own family centre by April next year. The single story building at Kallang will serve as the headquarters of the fraternity, making Netball Singapore one of a few national sports associations to have their own premises. Plans
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    • SOCCER
      • 308 9 THE S-League disciplinary committee is traditionally kept busy with errant players w’ho let fly wildly with their fists and feet on the pitch. But the S-League will also clamp down hard on footballers who let fiv with their mouth. Balestier Central’s Goran Paulic and
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      • 216 9 THE Football Association of Singapore has taken former national coach Jita Singh to task for comments he made on television. FAS general secretary Tan Eng Yoon wrote to the Sembawang Rangers coach asking him to justify his view’s on the national team’s application to go for this
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      • 439 9  -  Hu PETER SIOW THE S-League is not keen to take part in next year’s Singapore Pools FA Cup, which traditionally involves both amateur and professional soccer clubs. The reason boils down to a crowded fixture. The will be played over three
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  • MALAYSIA
    • 480 10  -  The accused, in court with a blackened left eye and bruises on his arm, tells about his detention Riyorts by Reports hi/ BRENDAN PEREIRA IN KI'ALA LUMPUR SACKED Deputy Prime Minister Anwar Ibrahim alleged in court that he was beaten severely while in
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    • 638 10 PRIME Minister Mahathir Mohamad suggested on Wednesday that injuries suffered by Datuk Seri Anwar Ibrahim while in police custody could have been self-inflicted. The police, he noted, had nothing to gain from doing anything to his former deputy as they did not
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    • 317 10 AFP KUALA LUMPUR The wife of Malaysia’s deposed Deputy Premier on Wednesday rejected suggestions by Prime Minister Datuk Seri Dr Mahathir Mohamad that wounds her husband had sustained in police custody may be self-inflict-ed. “I am shocked that a former medical doctor can say
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    • 171 10 Reuters KUALA LUMPUR A doctor who examined Datuk Seri Anwar Ibrahim said on Wednesday that he believed the former Deputy Prime Minister had been assaulted while in police custody. “In my expert opinion...Anwar Ibrahim was assaulted over the left forehead and neck and received blunt trauma
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    • 601 11  -  Previously, he had said he would not want to appoint a No. 2 for fear it would be seen as an endorsement of a candidate By BRENDAN PEREIRA IN KUALA LUMPUR PRIME Minister Datuk Seri Dr Mahathir Mohamad yesterday gave the broadest hint
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    • 307 11  -  SOUTH-EAST ASIA fit. EDWARD TANG TH AILAND CORRESPONDENT BANGKOK Thai Prime Minister Chuan Leekpai took a high-stakes gamble on Wednesday by co-opting the opposition Chart Pattana Party (CPP) into the ruling coalition, a move that has broad implications for stability in coming months. But
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    • 258 11 JAKARTA A new office is being constructed for President B.J. Habibie at the presidential palace a 28-sq-m room equipped and decorated in a way that will ensure he can “acquire inspiration to act as a wise statesman”, the Jakarta Post reported on Wednesday. The daily
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  • Page 11 Advertisements
    • 188 11 Ejon't t lose track while abroad ftCWS BOARDING PASS J The Straits Times WEEKLY EDmON brings you a crisp summary of the week's major news breaks reported in The Straits Times about Singapore and Asean. Covering news from social issues, politics, business, career opportunities and others, we bring you closer
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  • COMMENTARY
    • 621 12 TUESDAY September 29,1998 THE consequences of Malaysia's regrettable decision to withdraw the blanket approval it had given to Singapore military aircraft to enter its air space were evident sooner than expected. The RSAF helicopter involved in last week's search for two British officers, whose helicopter
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    • 738 12  -  SECOND LAST WORD B’l SIA CHEONG YEW THE message that bad times are here and even harder times are ahead should have been driven home to most people by now. But if you are one of those who still have not realised how serious our
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    • 603 12 FRIDAY October 2,1998 APAN's plan to extend I about US$3O billion (5550.2 billion) in aid, mainly to South-east I Asian nations, is a rempder of the economic role %wlch it can play to pull the region out of its crisis. The countrv has long acted
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    • 1176 13  -  MY VIEW y CIIERIAN GEORGE THE controversial revelations in Mr Lee Kuan Yew’s memoirs had the potential to strain ethnic ties here. But thanks to a remarkable show of deft political management, the launch of the book may have the opposite effect, becoming an occasion to celebrate
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    • 896 13  - Chinese —use it or lose it BY THE WAY TAN S 41 SIONC IN A story published in this newspaper recently about foreign-trained Singaporean doctors forming a club to help them adjust to the wavs of Eractising medicine when back ome, there was one eye-opening nugget. Dr LawTence Tan, the
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  • INSIGHT
    • 450 14 In the preface to The Singapore Story, Memoirs of Lee Knan Yetv, the Senior Minister said he wanted to show a new generation how Singapore nearly did not make it. Four people from his target readership give their views on his controversial account
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    • 539 14 Mr Jumari Naiyan, 34, deputy director of the Centre for Research on Islamic and Malay Affairs in the Association of Muslim Professionals. "AS A Malay born just a year before Singapore had independence thrust upon it, I came to accept the notion
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    • 333 14 Ms Sukwinder Kaur, 19, third-year banking and finance student at the Singapore Polytechnic "AS AN Indian living in Singapore, I shudder to think how different my life would have been, if Separation had never occurred and Singapore today was still part
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    • 372 14 Mr Choo Lip Sin, 27, a quantity surveyor, studied Chinese as a first language, and is active in Chinese theatre and literary circles "ONE thing I think SM was trying to get across is that although we are becoming very cohesive and more homogenous, we
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    • 981 15  -  THINKING ALOUD Br, ASAD L ATIF SENIOR Minister Lee Kuan Yew's memoirs could have been written hv many other Asian and African leaders. because the times which moulded him shaped them as well. However. their legacies and his bequest differ considerably, and why this is
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    • 1079 15  -  THIS WEEK IN POLITICS By CHL A LEE lIOONG EAST and West were united last week in unprecedented spectacles of political leaders and their private lives on public parade. In the United States, a videotape showing President Bill Clinton’s testimony to the grand
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  • MONEY
    • 367 16 THE Singapore stock market endured another quiet week with investors sidelined as sentiments vacillated between hope and pessimism over the financial crisis in emerging economies. The market began the week on an optimistic note ahead of a meeting of the policy-making US Federal Open Market
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    • 76 16 Straits Times Index The Straits Times Index dropped 23.93 points on the week to 899.99. DAY CLOSE TURNOVER Monday 930.53 6.61) 117.939 ($160.931m) Tuesday 938.51 7.98) 124.726 ($220.843m) Wednesday 939.65 1.14) 118.457 ($158.782m) Thursday 916.02 (-23.63) 132.386 ($162.424m) Friday 899.99 (-16.03) 93.118 ($154.810m) BT-SRI Index The BT-SRI
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    • 1871 16 Company D«t« ann Nat earn TY LY <$m) ($m> EPS TV LY lets) (ett) Asa Ceramic Sap 14 1 3.752 3.552 2 88 2 84 Alliance Tech Sap 21 5.836L 5432L 7L 7L ANA Hot«l$ Aug 26 1 0.230 1.317 048 2.75 A0R Sap 16 1.352L 0.429L 3.0L
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    • 127 16 RIGHTS ISSUE E«Books Acc Company Ratio date doae Paymt Nera ASA 1 (or 2.204 ®US$1.30 Sep 11 Sep 18 NA Pan M'slan one-for-one (PRMO.SO Jul 31 Auq Sep 24 BONUS ISSUE CaBooks Company Ratio date close OTHERS ClBooks ACC 6 Company Ratio 0«U clot* Paymt China Ropaymont Of
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    • 868 16 Payment (ets) Ex data Books dote Pay data Alexandra 50c 0 1.5 Sap 9 Sap 16 Oct 6 ASA 10c b 1.5TE Sap 22 Sep 29 Oct 13 AraB M'aian 50c 0 0.5 Oct 1 Oct 8 Oct 23 BMT SS10.00 F 56 Oct 20 Oct 27 Nov
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    • 24 16 Company Rights Issut CK Tang Two Rights Sharps tor ovary On# $0 20 Short hoid.lstu# pries 21.5c Company Bonus Issuo Datacraft Ono-tar-ono
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    • 113 16 Company Place Date Time Network E 12 Woodlands Link S'pore (*****0) Sep 30 2.30pm IPCO A 24 Pandan Rd IPCO Bldg S'pore(*****5) Oct 8 9.00am OAF E OAF Ltd 224 Pandan Loop S’pore (*****1) Oct 20 11.00am Tri-M A 25 Kallang Ave •07-04 Kallang Basin ind Estate S’pore<*****6)
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    • 645 17  -  CONTROLS: Emerging fears Trade discrimination: Bureaucrats could discriminate against a particular country or port. Cash flow: Customers could delay payment, saying Bank Negara has not given approval. Black market: Companies could hunt for ways to get their money out of the country, resulting in black Ynarket operations.
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    • 147 17 COUNTER RATES Buying OD Selling Singapore dollars to on* unit of foraign currancv Australian dollar 1.0060 1.0270 Canadian dollar 1.0850 1.1080 NZ dollar 0.8470 0.8650 Starling pound 2.8750 2.9040 US dollar 1.6920 1.7040 Singapore dollars to 100 units of foreign currency Austrian schilling 14.40 14.80 Belgian franc 4.930 5.040
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    • 103 17 Contract dote: October 2. 1998 Unit On* mth 3 mth» 6 mth* 9 mth» 12 mth* Call Vtlu* Ml us$ 47. 47, 47, 47» 47. 47. 06/10 47. 4'/. 4V, 47, 47. 37, 07/10 NZ 4 4% 47, 47, 47. 3 06/10 STG. 67. 67. 67, 67.
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    • 401 17  -  Half-time earnings of 190 listed firms work out to just S66om, compared to 53.26 b a year ago fh. JEAN c:hia THE Asian economic turmoil, provisions and unforeseen circumstances hacked 80 per cent off 190 listed Singapore companies’ combined halftime profits to a mere
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    • 466 17  -  Bi/ KALPANA RASHIWALA GOVERNMENT-OWNED Pidemco Land will guarantee a $9O million bond issue by Orchard Parade Holdings (OPH) secured against the mainboardlisted developer's 60 per cent stake in the freehold Blissville condominium site in Bukit Timah. The guarantee a first for the Singapore market is calculated
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    • 3718 18 Transaction date: October 2,1998 MULTI INDUSTRY 1998 High Low Company Curr Last Tradtd Salt ♦Of voi 000 Day High Low Gfs Nat M Cap Olv P/E Smll Wt Avg Price 142 49 5 ml AcmaSOc 56 cd unch 206 56 55 27.5 39 92.6 56 65.5 38
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    • 785 18 1998 High Low Company Curr Lott TraOod Solo ♦Of Vol 000 Day High Low Gr'i Oiv Not P/I M Cap Wt Avg Smll Prlco MANUFACTURING 243 30 e AS Auto 10c 65.5 -1 945 66 65 15.0N 6.2 74.8 69 82 47 e ASjHia<js20c.... 47 1 47 47 2.5
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    • 915 19 BONDS, LOANS WARRANTS 1998 Laat Vol Day Lott Quota Wt Avg High Law Company Salt ♦Of 000 High Low Buyar Sailor Prlca 20.5 3 *Acar W*****1 US$ ..4 •0.5 1 4 4 4 6 95 5 Acmo W*****4 6 unch 95 6 5 5 5.5 6 6 AIIT*chW*****7 ...28.5 25.5
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    • 167 19 Transaction date: October 2,1998 1998 Htqh Low Company Curr Loot rrodod Solo Vol ♦Of* '000 Day High Low Greto «V* Not P/l M Co* Smll HONGKONG STOCKS 400 250 COL (2000) HK400 8.0 20.5 7744.7 CathayPoc 20c HK720 2650 6.0 *****4 Chtunq Kong50c....... HK1780xd 240.0 3.0 *****.5 HK
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    • 419 20  -  Hi/ TAN LI ENG SINGAPORE’S regionalisation drive may find its “second wind" as local banks, private companies and governmentlinked corporations (GLCs) snap up bargains in neighbouring countries, says Chase Manhattan Bank's regional manager for South-east Asia and India. Mr Morgan McGrath.
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    • 590 20  -  It was depressed by a sharp decline in electronics output, which accounts for almost half the manufacturing sector H't Hi/ WRENDRA AGGARWAL SINGAPORE’S industrial production fell an unexpected 6.6 per cent in August, depressed by a sharper 9 per cent decline in electronics output, which accounts
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    • 185 20  -  By By KAI.PANA RASHIWALA PROPERTY developer Wing Tai Holdings has reported a $136 million group net loss for the year ended June and warned that it did not see a profitable current year. The mainboard-listed group’s performance was weighed down by a
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    • 466 20  -  By COLIN TAN SINGAPORE Telecom (SingTel) has underestimated the severity of the economic crisis and has to ponder the possibility that earnings growth for the current year could be fiat or even negative, chairman Koh Boon Hw'ee said last Friday. He said the
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    • 83 20 PROPERTY magnate Ng Teng Fong's Orchard Parade Holdings (OPH) reported an interim net loss of $BB.l million, dragged down by $62.8 million provisions for potential losses on properties under development and associate Yeo Hiap Seng's (YHS) $37 million interim net loss. OPH and YHS had
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  • Page 19 Advertisements
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  • Page 21 Advertisements
    • 905 21 The Straits Times Weekly Edition i m NATIONAL TRADES UNION CONGRESS We in the NTUC have developed a blueprint to take us into the 2J st Century. We call it NTUC 21. More importantly, we need people with verve and vitality to turn our vision into reality. So why not...
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  • Page 22 Advertisements
    • 1009 22 I <ĕ> SCORE Singapore Corporation Of Rehabilitative Enterprises Our mission is to prepare and assist offenders and drug abusers to return to society as useful citizens. In support of this mission, SCORE provides counselling and aftercare support services to them. To provide these services, SCORE Counselling Centre is looking for
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  • FORUM
    • 578 23 I REFER to your report “Umno not involved in riots, say two Malaysians” (ST, Sept 21). Your report mentioned that Tan Sri Abdul Aziz Zain, one of the four members of the Royal Commission of Enquiry on the race riots, in an interview with the Malaysian
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    • 491 23 YOUR report “Surprise invite for Aware as petition is delivered" (ST, Sept 10) noted that the Indonesian Embassy released to the media a list of 22 maids seeking refuge in the embassy, adding that most of them were allegedly raped or abused by
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    • 188 23 I REFER to the letter by Mr See Leong Kit, “Ministries should lead in belt-tightening" (ST, Sept 28). We agree with Mr See's views. The Government has alw’ays adopted a prudent approach in formulating and implementing its spending policies. In general, its day-to-day operational expenditure is
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    • 114 23 IN THE “This Week In Politics" column (ST, Sept 19). Ms Chua Lee Hoong wTote that “the special position" of the Malays in Singapore was enshrined in the Constitution, which allows them free education and a host of other privileges. Article 152(2) of our
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  • 456 24  -  The new facility, to be set up at the Pasir Ris Wafer Fab Pam, will start production in 2000 Bu WILLIAM CHOONG ROYAL Philips Electronics, Taiwan Semiconductor Manufacturing Company (TSMC) and the Economic Development Board on Thursday unveiled plans to invest USSI.2 billion
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  • 668 24  -  Bu C HANG AI-LIEN THE next time Michael Jackson gets too sweaty on stage in Singapore, he can take off his shirt. He can also get off the stage to mingle with his fans. Police announced on Thursday that licensing conditions for
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