Factiva 20160512 1908

Singapore's team of top FTA negotiators is in full swing.
By Yang Razali Kassim.

1,023 words
13 June 2001
Business Times Singapore
STBT
English
(c) 2001 Singapore Press Holdings Limited
With NZ deal sealed, it is working on 6 bilateral trade pacts
(SINGAPORE) When the going gets tough on the global trading stage, who gets going? A team of top trade
negotiators in Singapore, that's who.
Unknown to most Singaporeans, this team of senior officials has been fanning out across the globe with a
common goal in mind - to secure bilateral free trade agreements, or FTAs, with Singapore's major global
trading partners.
Having secured the first FTA with New Zealand on Nov 14 last year, they are now negotiating with no fewer
than six potential partners at the same time - the United States, Japan, Australia, Canada and Mexico, as well
as the European Free Trade Area countries - Iceland, Norway, Switzerland and Liechtenstein.
Under the plan, these FTAs will form a network that will criss-cross the globe to support Singapore
entrepreneurs and Singapore-based companies in their quest to find export markets with minimum
obstacles.
And driving the plan is an 'FTA network' - the team of negotiators coordinated by the Ministry of Trade and
Industry (MTI). Heading the team is 40-year-old Heng Swee Keat, CEO of the Trade Development Board
and deputy secretary (trade) at MTI.
In an interview with BT, Mr Heng said: 'The FTA network draws negotiators from all the relevant ministries
and agencies. For every FTA, we have a chief negotiator and a team of officers drawn from this network.'
The negotiators (see chart) are specialists in particular areas. But many of them have to cover more than one
area - and often more than one FTA, due to lack of staff resources, says Mr Heng, who represents
Singapore at various international economic forums such as the WTO, Asia Europe Meeting (Asem) and
OECD.
The plan is both unconventional and controversial. But after several months of pow-wows behind closed
doors both at home and in foreign capitals, Singapore's bilateral FTAs are getting more support than
brickbats.
The main criticism has come from Singapore's nearest but most outspoken neighbour - Malaysia. Only last
week, Prime Minister Mahathir Mohamad repeated Kuala Lumpur's concern that Singapore's bilateral FTAs
could become a back-door entry for other countries to get into the Asean Free Trade Area (Afta).
Exactly how this back-door entry would happen has never been spelt out by the Malaysians. The Singapore
High Commission in Kuala Lumpur recently wrote to one of the main Malaysian dailies to counter such
comments.
Just before Dr Mahathir's criticism last week, however, a senior Malaysian government official told the Dewan
Rakyat that Singapore's bilateral FTA push was understandable.
Mr Heng adds that Kuala Lumpur's criticism does not, however, reflect the majority view in Asean. 'This issue
about Singapore's FTA efforts having a negative effect on Asean was not discussed at all during the recent
Asean economic ministers' retreat (in Siem Reap, Cambodia). It's a non-issue,' he says.
Page 1 of 162 © 2016 Factiva, Inc. All rights reserved.

'Apart from Malaysia, the rest of Asean is not averse to Singapore's FTA efforts. Thailand is reported to be in
discussion with other countries in exploring FTAs. There's also a report on the Philippines discussing bilateral
FTAs with other members.'
Mr Heng adds: 'Vietnam and Cambodia are seeking entry into the WTO. So, on the whole, Asean has been
open to greater liberalisation in trade and investments.'
At the conference in Tokyo where Dr Mahathir spoke last week, the consensus was that there should be a
'multi-layered' approach to trade liberalisation - bilateral FTAs, regional FTAs like Afta, as well as multilateral
efforts at the World Trade Organization. The only condition is that the bilateral and regional FTAs must
conform to WTO rules - something that Singapore officials will take pains to ensure.
The timeline is a demanding one. The plan is to wrap up all these negotiations before the year-end.
This will be in time for Prime Minister Goh Chok Tong to report to fellow leaders of the Asia Pacific Economic
Cooperation (Apec) forum when they hold a summit in Shanghai in October and to Asean's own summit in
Brunei in November.
But the one with the US has proven to be more complicated than originally expected, owing to American
domestic politics. The year-end deadline to complete negotiations now looks impossible.
Mr Heng also refuted reports that Japan may want to wrap a deal with Singapore by July. 'We will certainly
work towards that target, but we must first ensure that we have a substantive agreement,' he told BT. 'In any
event, both then-PM Mori and PM Goh had instructed that the agreement be completed by year's end. We
are confident that we will do so.'
Singapore's goal for all the FTAs is bigger access and unimpeded trade for Singapore companies -
including New Economy services. In turn, official and trade sources in the other capitals told BT they want a
bigger bite of the cherry from Singapore's financial, services and knowledge-based industries.
The behind-the-scenes process of coming to a negotiating position is an exhaustive one. On policy issues, all
ministries affected give their input. Input is also taken from the public through various channels, including the
ministry's website www.mti.gov.sg. Consultations are also held with NTUC and the industry groups which
are affected by the FTAs.
'Negotiating positions are arrived at after a whole series of consultations,' Mr Heng says. 'And where it is a
major change or it's a major policy direction, this has to be approved at the Cabinet level.' In other words, the
positions that the negotiators eventually take when they go into the negotiating room often will reflect the
expectations of many sides, especially the private sector.
So what does the private sector want from all these FTAs being pursued? The permanent removal of bilateral
barriers to trade. They want to see an easier flow of goods, services, capital and talent.
Also, more export opportunities for their commercial and professional services, and better terms for their
investments, Mr Heng says.
Document stbt000020010716dx6d003xk

Maybe baby.
By Cheong Suk Wai.
1,922 words
12 June 2001
Straits Times
STIMES
English
Is there still value in having kids? According to a British father-and-son team, kids are the best defence
against the culture of capitalism
IAN LEONG does not know it yet, but he was not part of his parents' original plans. His mother Joanna Chew,
29, says: 'I had never given the idea of a child any deliberate thought.
'Before I had Ian, married life was free and easy, with no real commitments or responsibilities. We could
spend if we wanted to, take long walks and watch mudskippers whenever we felt like it.
'I never thought: 'How nice it would be to have little feet running around. Now, my life is important only to the
extent that I can look after him.'
Ms Chew has been married to fund manager Clarence Leong, 31, for four years (see other stories).
Until little Ian came into their lives eight months ago, they were typical of a generation perhaps best described
as The Cult Of Me, people whose almost every move in life is dictated by the question: 'What's in it for me?'
That raised another question for the British father-and-son team of Laurie and Matthew Taylor: Where is there
a place in such a world for the notion of sacrificing and caring for others - like children?
The elder Taylor, 64, is a fellow of Birkbeck College and a former sociology don of York University. His son,
Matthew, 40, is the director of Britain's Institute of Public Policy Research, and has two sons of his own.
Their curiosity about the issue was piqued when the younger Taylor asked his ex-hippie Dad: 'Why did you
bother having me in the first place?'
The two men then asked a small sample of parents among friends and acquaintances the same question.
Most groped for an answer, other than the trite 'We must have wanted them'.
The Taylors found that adults today generally saw babies as uncool, a bad investment and a burden in all
senses of the word. This, they said, tallied with the decline in global fertility rates in the past 40 years.
They cited European Union statistics, published earlier this month, which showed that the birth rate in
Germany had fallen to 1.34, in Italy to 1.19 and in Spain to 1.15. In Britain, they added, the rate had fallen a
third - from 2.4 in 1970 to 1.66 today.
Their essay, Politics For Babies, is the cover of this month's issue of Britain's Prospect magazine.
Here are its main points:
'ME' VS 'WE'
IN ANSWER to his son's question, the elder Taylor wrote in the June 3 issue of The Observer: 'I explained as
well as I could that back in the 1960s, when he was born, we all adopted a hands-off approach to children...
The spirit of the Sixties was opposed to treating childhood as a conveyor belt for the production of cogs that
would fit into the capitalist machine.'
But consumer capitalism rules today. And parenthood, said the Taylors, has been devalued because its
values - selflessness, affection, commitment and sacrifice - are not commercially viable.
Above all, the Taylors pointed out, modern consumer capitalism prizes choice and autonomy.
In Singapore, this mentality has also taken its toll. The total fertility rate has been falling steadily since 1988's
high of 1.96.
In 1999, said Prime Minister Goh Chok Tong at last year's National Day Rally, the rate was 1.48 - which
means the population would decline from 3.2 million to 2.7 million in 50 years, not including migrants.
The Taylors said the traditional list of reasons why people want descendants no longer applies.
This is because:
The spirit of getting ahead today is 'May the best man win'. So, it may or may not be worthwhile to pass on
one's name, position and profession. Besides, many fast-morphing new economy jobs are not the sort that
one could pass on traditionally to Junior.
Parents living in a hedonistic world no longer see the value in passing on moral codes of conduct, as being
good no longer guarantees getting ahead.
Children, once thought to be the glue holding marriages together, now combine with the pressures of
modern-day living to dissolve marriages instead.
In fact, divorce rates in Britain have doubled in the past 30 years. Three in 10 British children see their
parents divorce before they turn 16.
In Singapore, too, divorce statistics rose by 42 per cent, from 3,600 in 1990 to 5,200 last year.
In summary, as the Taylors put it: 'As adults, we may have learnt to live with the permanent present - that
day-to-day flux of complexities and contingencies that inhibits our capacity to formulate visions of a future and
better society.'
PRO-FAMILY POLICIES
IT DOES not help, the Taylors said, that the maternal instinct, too, has gone out the window.
A woman's role model today is someone like trail-blazing writer J.K. Rowling, not docile Betty Crocker tied to
her own apron strings.
Most women are now reluctant to let a baby stand in the way of their self-fulfilment. The tricky bit, said the
Taylors, is for policy-makers to find ways to make child-rearing for them less of a pain and more naturally
desirable.
Family-friendly practices at work and play would help a lot, they added. But first, they pointed out, people
must believe that a child-friendly community is the building block of good society.
If nothing else, they conclude, having children is the best defence against the self-destructive nature of the
'show me the money' world today.
As for the Leongs, Ms Chew has this to say: 'Having Ian has made me definitely more tolerant and patient -
not just of him, but of the people around me.'
Bundle of joy keeps me going
MS JOANNA CHEW 29, legal officer. She and husband Clarence Leong were classmates in law school. Love
blossomed during their pupillage at the same law firm. They were married in 1997 and their son, Ian, was
born in October last year
'EVEN well into our second year of marriage, I NEVER imagined I'd be a mother.
Clarence and I were so happy together; we completed each other and didn't need anyone else in our lives.
There was no pressure to have babies either from family or friends. It was more a matter of whether I wanted
to jump on the bandwagon or not.
Before I had Ian, I wondered if I should bring a child into a dying world - what with war, famine and global
warming - when there were already so many children alive without love.
But somewhere at the back of my mind, I figured: If I am to have a baby, I should do so sooner rather than
later. So, I set myself the tentative deadline of having my first child by the age of 30.
Still, I let things happen naturally - I'm a firm believer in the rhythm method.
I wouldn't call being pregnant a watershed or turning point in my life. It was actually awful, with nausea,
constant hunger, sleeplessness and difficulty in moving about. I kept wishing it would end.

Then, in my sixth month of pregnancy, there was a miscarriage scare on our trip to Australia. I was posing for
a picture on a rock on the beach, when a huge wave knocked me off my feet. I must have swallowed half the
sea.
Breastfeeding Ian was agony. I also had this huge gash in my tummy from the Caesarean, but I'd be up in
pain at 2 am, carrying my cranky 4-kg bundle of joy around.
Before Ian, Clarence and I never quarrelled. But during the first three months after we had him, sparks flew
between us every day. Each of us felt the other was not doing enough.
I was lucky to have my Mum around to help, as well as my best friend Belinda, who rushed over during her
lunch hour every day, just so I could nap for one hour.
After my two-month maternity leave, I had to return to work. I applied for no-pay leave, but was turned down.
Also, it made no sense to work part-time, because that would have meant doing the same workload for less
pay.
I quit not long after for a more family-friendly schedule, and joined my present employer three weeks ago.
Still, during long, draggy office meetings, Ian's face pops up in my mind and I think: 'What a smile! Boy, I miss
that guy.'
Now that my mother-in-law is back from taking care of her other grand child in America, she takes turns with
my Mum to look after him while I'm at work.
The bottomline is: If I didn't have the great support of my family, friends and colleagues, I wouldn't bother to
have children.
But, seeing how Ian turned out, I'm encouraged to have more.'
A smile from him makes everything okay
MR CLARENCE LEONG 31, fund manager.He and Joanna Chew are parents of eight-month-old Ian
'BEFORE and after marriage, the thought of having children simply never crossed my mind.
The idea of having a child to me was like walking past a restaurant every day, thinking: 'Hey, maybe I'll go in
there one day to check out what it's like.'
In the old days, there was no need to work long hours to absorb so much information. There were also fewer
lifestyle choices and so nothing much to do. So, having children filled in long time gaps for people. The whole
kampung would come for the birth.
When Joanna told me she had conceived, I went along with it to humour her.
I'm not the type of person who makes decisions emotionally. So, I was very detached about the whole thing. I
didn't warm to the idea of having a kid even after he was born.
Jo and I argued almost every day in the first few months. We were both not getting much sleep and I had to
rush back from work every day to relieve her in the evenings.
I found myself telling her over and over again: 'We should never have had a kid. It's a bad idea.'
But the minute he smiled - at 1 1/2 months - I thought: 'Aiiiya, chin chai (anything goes) lah.
Still, these days, I can't watch TV when I come home from work, and I miss enjoying the newspaper on
Sunday mornings.
I suppose any change in life that drastic is stressful, although we're used to it now. It's like training for the
Olympics!
If you want to have children, I'd advise you to plan carefully and consider if you're prepared to give up the
lifestyle you enjoy.
Now I have a kid, I appreciate what the Government does for us, providing a stable environment and all.
Here, there's no fear of possible mob attacks, or that my kid might be stabbed in school or mugged on the
streets.
I may be a fund manager but, until we had Ian, I never thought of planning for our future. It was only recently
that I checked out insurance and education endowments.
We want only the best for Ian.'.
Document stimes0020010715dx6c009um

Patent invention only if it is worth the expense.
By Chan Kay Min.
254 words
12 June 2001
Straits Times
STIMES
English
IF your invention has commercial value, you had better protect it with a patent.
But if you are applying for a patent only for personal satisfaction, do not waste your money.
Attorney Kevin Theseira gives this advice as a broad guide, because it can cost between $10,000 and
$100,000 to protect a single invention.
While the inventor can prepare his own patent application, it is best to have an expert do the paperwork,
despite the cost.
A patent is an agreement between the inventor and the Government, said Ms Isabel Chng Mui Lin, senior
assistant registrar at the Intellectual Property Office of Singapore (Ipos).
'Basically, a patent requires the inventor to give full details of the invention as it may benefit society. In return,
the Government grants the inventor protection to exploit his invention for up to 20 years,' she said.
To be considered patentable, inventions must be new, something no one has thought of before and have
industrial application.
Before applying for a patent, an inventor should make sure that the idea, or something very similar to it, has
not already been patented. Ipos offers an Internet service, SurfIP, for applicants to check the various
international patent databases.
Once the application is filed with Ipos, it will engage its counterpart offices in Austria or Australia to do
worldwide checks to ensure no similar inventions have been patented.
Once patent is granted, protection starts from the date of filing.
Document stimes0020010715dx6c009ul

Tampines fish farmers have to go.[CLARIFIED]
By Alicia Yeo.
311 words
12 June 2001
Straits Times
STIMES
English
AFTER a two-year tussle, the fish farmers at Old Tampines Road will have no choice but to leave by the end
of this month.
The Singapore Land Authority has issued an ultimatum to the remaining 13 farmers - either take the goodwill
payment of between $12,000 and $16,000, or be forced out.
It said it planned to get a warrant to dispossess the farmers who refuse to leave, at a court hearing scheduled
for tomorrow evening.
The warrant means a farmer has two weeks to move out, after which the authority can evict him.
The Straits Times spoke to six farmers yesterday. Five of them said they would accept the compensation
payment. Three of them will move elsewhere while two plan to retire.
Only Mr Quek Hee Choon said he would go to court to fight the move.
When asked if he wanted more money, he said in Mandarin: 'What do you think?'
As for Mr Teo Chye Phay, 72, even though he is not satisfied with the compensation amount, he will not
contest the case.
'I don't want to go to court because I know I cannot argue my case. If I speak one sentence, they will speak
two,' he said.
Agreeing, Mr Low Chin Hwee, 51, said in Mandarin: 'I have given up fighting for more money.'
The land where the farms are located is being taken back for industrial use.
CLARIFICATION - IN TUESDAY'S report, 'Tampines fish farmers have to go', we reported that Mr Quek Hee
Choon said that he would go to court to fight the move to leave by the end of this month.
The comments in the story do not represent the company's views. We are sorry for the error. (STIMES,
14/6/2001)
(c) 2001 Singapore Press Holdings Limited.
Document stimes0020010715dx6c009u6

Li Peng hails Suzhou's rapid progress.
By Mary Kwang.
519 words
12 June 2001
Straits Times
STIMES
English
In talks with Mr Lee Kuan Yew in Beijing, the Chinese leader praises the SM's contribution to its development
BEIJING - Mr Li Peng, the second highest-ranking Chinese leader, said yesterday that the China-Singapore
Suzhou Industrial Park (SIP) had borne fruit and had blossomed.
In wide-ranging talks with Senior Minister Lee Kuan Yew, he spoke highly of the achievements made by the
park in the past seven years in terms of self-development, attracting overseas investors and learning from
Singapore's experiences.
He also praised Mr Lee's 'important contribution' to the development of the park, according to the official
Xinhua news agency.
'A number of years ago, you were the very person who raised the idea of building the Suzhou Industrial
Park. There were many discussions. I myself was involved in this project,' Mr Li said.
Prime Minister Goh Chok Tong and Mr Li, who was then Chinese Premier, witnessed the signing of the
agreement in 1994 between Singapore and China on the establishment of the SIP.
Mr Li, who ranks after Chinese President and Communist Party General Secretary Jiang Zemin in the
leadership hierarchy and who is also the chairman of the Chinese parliament, met Mr Lee for talks that lasted
70 minutes at the Diaoyutai State Guesthouse yesterday.
Madam Yeong Yoon Ying, the Senior Minister's press secretary, said the two leaders held 'very cordial and
warm discussions'.
On his part, Mr Lee said: 'Every time I come to Beijing, I'm surprised at the changes.'
He observed that Beijing had built several freeways and flyovers and the traffic in the city had improved.
'Buildings keep sprouting up like mushrooms,' he said.
Mr Lee, who was last in the Chinese capital a year ago, said that he hoped that the authorities would
preserve the ancient style and features of the city or it would lose its special character and become like any
other modern city.
During the talks, Mr Li briefed the Senior Minister on China's strategy to develop the backward western parts
of the country.
China launched the campaign two years ago in a bid to close the income disparity between the prosperous
coastal regions and the backward inland areas.
He also briefed Mr Lee on Mr Jiang's theory of the 'Three Representatives' that was raised last year.
In the run-up to the 80th anniversary of the founding of the Chinese Communist Party that falls on July 1, the
Chinese media is running a series of articles on this theory, which stresses that the party must be
representative of the most advanced culture, the most advanced productive forces and the interests of the
people.
Their discussions also covered international issues including Sino-US relations.
Last week, Mr Lee kicked off his six-day visit of China in the SIP where he attended celebrations marking
seven years of achievements in the township.
While there, he held talks with President Jiang, who had travelled to Suzhou to meet him.
Mr Lee and his delegation are scheduled to leave for home today.
Document stimes0020010715dx6c009tm

PM urges Bush - Stay engaged in S-E Asia.
By Lee Siew Hua.
435 words
12 June 2001
Straits Times
STIMES
English
PM Goh says the US should play a stabilising role and its attention will help inspire confidence in the region
WASHINGTON - Prime Minister Goh Chok Tong, the first South-east Asian leader to meet President George
W. Bush, told him that Asean requires attention from the US and that this will help 'inspire confidence in the
international community' for the region.
During the meeting, both leaders touched on a range of issues and expressed the hope that Indonesia would
resolve its political uncertainty peacefully and constitutionally.
Also touched on were US-China relations, with Mr Bush saying he placed a lot of value on Washington's ties
with Beijing.
Mr Goh's principal message to Mr Bush and his new administration was that the US should play a stabilising
role in the region by staying engaged in it. The US said that it looked forward to reinvigorating the US
partnership with Asean, which is a pillar of regional stability.
Mr Goh described the 25-minute meeting as 'comfortable' and 'candid'. He added: 'I get the impression that
the President likes straight talk.'
'I was delighted that he has a strong interest in ensuring that East Asia will continue to be stable and to
prosper.' He said that Mr Bush brought up the US-Singapore free-trade agreement (FTA) that is being
negotiated. Mr Goh suggested to Mr Bush that at the right time, the US consider getting others in the region
to sign to the FTA.
He said: 'We do this for strategic interests, not just for Singapore's interests.'
Mr Goh represents Singapore's respected voice on regional issues, from North-east Asia to South-east Asia,
at a very fluid time.
White House spokesman Ari Fleisher said that both leaders agreed to review progress when they meet at
Asia-Pacific Economic Community (Apec) meeting in Shanghai in October.
He said: 'Both sides remain committed to achieving a world-class agreement that reinforces strong
commercial and political ties as soon as possible.'
Both countries also expressed strong support for Indonesia's transition to a more democratic society and
market-oriented economy, he said.
At press-time, he had met Mr Bush, National Security Adviser Condoleeza Rice and Secretary of State Colin
Powell.
His star-powered schedule on his six-day trip encompasses meetings with the top Cabinet members, except
for members with domestic portfolios.
He will also meet Vice-President Richard Cheney, Treasury Secretary Paul O'Neill, US Trade Representative
Robert Zoellick, Commerce Secretary Donald Evans and Defence Secretary Donald Rumsfeld.
Document stimes0020010715dx6c009tg

Aiwa to cut more than 85% of its S'pore workforce.
By David Boey.
333 words
12 June 2001
STBT
English
It cites deteriorating worldwide economic conditions
AIWA group, a Japan-based electronics distributor, said yesterday it will slash its workforce in Singapore by
more than 85 per cent in view of 'deteriorating worldwide economic conditions'.
In a statement released by its Singapore-based unit, Aiwa Singapore Ltd, it said the job cuts follow a
comprehensive review of all Aiwa's plants that started in March.
Explaining why 249 of its staff will be retrenched here, Aiwa said the review showed that Aiwa Singapore's
'current business model makes it unsuitable to sustain profitability in the future due to high running costs'.
Singaporeans and permanent residents make up 192 of the affected staff. The rest are employment pass
and worker permit holders from China, India and Malaysia.
'To ensure its continued survival, Aiwa Singapore has to streamline the operations here, providing a simple
structure, with no overlap of functions with other overseas factories,' it added. 'Only profitable functions or
where jobs can be more effectively performed here will remain.'
An Aiwa spokesman told BT affected staff will be laid off in batches from July to December to ensure 'a
smooth transition' along with 'a gradual transfer of functions'.
The jobs losses come from Aiwa Singapore's research and development and its international part
procurement divisions. 'The company is taking special steps to assist employees during the restructuring,'
the company assured. 'Compensation will be given to affected staff.'
Aiwa Singapore was set up in 1974. Despite downsizing its staff size massively, it said its International Parts
Centre as well as its logistics and electromagnetic compatibility centre will remain here to continue to support
Aiwa's overseas operations.
It said: 'With this exercise, Aiwa Singapore will be able to contribute greatly to the overall success of the
worldwide restructuring of Aiwa group. Aiwa Singapore is confident that this will lay the groundwork to
maintain a competitive presence in Singapore for the future.'.
Document stbt000020010716dx6c003x8

Satellite TV plans for MediaStream unit.
226 words
12 June 2001
STBT
English
A NEW Singapore-based satellite television channel could go on air as early as the first half of next year,
Sesdaq-listed audio-visual company MediaStream said yesterday. But the channel will not be telecast to local
audiences.
In a statement filed with the Singapore Exchange, MediaStream said a privately held company called
DigitalOne, in which it has a 40 per cent interest, has been awarded a satellite broadcasting licence by the
Singapore Broadcasting Authority. The licence takes effect from Dec 1 this year.
The MediaStream statement said DigitalOne is a company that has been in the business of 'creating and
developing digital content for television'.
'It will operate an international satellite television broadcasting channel, uplinking from Singapore. It is
intended that the television channel will be broadcast to several Asian countries (excluding Singapore)
initially and to the rest of the world eventually,' the company added.
MediaStream executives could not be reached to elaborate on their plan.
The company statement said the programming content on the yet-unnamed channel will be mainly in English
and Chinese. It expects to launch the channel in the first half of 2002.
MediaStream was previously known as Form Holdings. It changed its name in May last year.
Yesterday, MediaStream shares closed half a cent lower at 5.5 cents with 291,000 units traded.
Document stbt000020010716dx6c003x2

Ringgit pressure revives call for peg to currency basket.
By Eddie Toh.
588 words
12 June 2001
STBT
English
Fixed rate to US$ leaves little room for flexibility, analysts say
THE continued pressure on the ringgit has led to renewed calls for Malaysia to adopt Singapore's approach
in controlling its currency within a band based on a trade-weighted basket of currencies, instead of fixing the
ringgit against the greenback.
'This will allow it more flexibility and less strain on domestic prices and competitiveness should regional
currencies move adversely from current levels,' said SG Securities in a report.
But Khatina Nawawi, one of the authors of the SG report, argued that it was still too early to tinker with the
Malaysian currency peg, fixed at the height of the regional financial crisis in September 1998. 'We don't see
it's time for the ringgit peg to change,' she said.
But in the event of a devaluation by the government, SG Securities reckoned that the Malaysian government
may fix it at between RM4.10 and RM4.30 against the greenback by the middle of next year against the
current level of RM3.80.
Similarly, Song Seng Wun, regional economist at GK Goh in Singapore, argued that a trade-weighted peg
will be less disruptive.
'The trade-weighted system provides a better alternative. A break of the fixed exchange rate system will be
disruptive. They may have no choice but to devalue the ringgit if the outflow continues,' he said.
They were reacting to comments by Mohamed Ariff, executive director of the independent think-tank,
Malaysian Institute of Economic Research, who had argued for a switch to a floating peg based on a basket
of currencies of Malaysia's trading partners.
'A transparent basket peg would appear to be a better option than a single currency peg, as it would provide
exchange rate stability against a basket of currencies, without exchange rates rigidity against any one
currency,' he wrote in the New Straits Times over the weekend.
The idea of the managed band system is not something extraordinary.
The National Economic Action Council had initially proposed the idea as one way to help stabilise the
gyrating Malaysian currency during the regional economic crisis.
But Malaysian Prime Minister Mahathir Mohamad eventually opted to fix it at RM3.80 against the US dollar to
ensure maximum stability and predictability.
The control held off currency speculators and enabled the government to pursue an expansionary fiscal
policy and keep interest rates soft.
However, the ringgit has come under pressure lately due to perceptions that it is overvalued against regional
currencies.
'The relative strength of the ringgit now vis-a-vis the Thai baht, Indonesian rupiah, Philippine peso and
Singapore dollar far exceeds that of the pre-crisis early July 1997 situation. In other words, the ringgit has
moved clearly out of sync with the rest of the regional currencies,' said Dr Ariff. Confidence in the currency
has also been shaken by the dwindling reserves.
The country's reserves have fallen from US$34 billion to about US$25 billion, which is enough to sustain 3.8
months of retained imports - just slightly above the internationally accepted financially prudent level of three
months.

Dr Ariff said Malaysia's reserves are low, not only by the country's own standards of six to seven months of
retained imports, but also in comparison with Singapore's 12.3 months, Taiwan's 9.6, Indonesia's 6.1 and
Thailand's 5.7. 'Much will hinge critically on the external reserves,' he added.
Document stbt000020010716dx6c003wx

Uneasy equilibrium in IDD market as rates bottom out.
By Rachel Ong.
644 words
12 June 2001
STBT
English
Sunpage sets stage for higher economy service charges by raising rates for some destinations
(SINGAPORE) After a series of aggressive rate cuts following the opening up of the telecoms market last
year, international direct dialling (IDD) rates now appear to have hit bottom.
Indeed, rates have in some cases even started to creep up. Setting the stage for higher IDD charges by
providers of economy service is Sunpage.
Owned by Singapore Technologies, the operator revised its rates on May 1. An 8-minute 15-second call to
Australia now costs 5.4 per cent more compared to its rates in December last year.
A similar call to New Zealand has increased by as much as 27.5 per cent to $1.90. But hikes are not across
the board - the same call to Taiwan costs 43 per cent less at $1.65.
InDemand, another IDD service provider, has hoisted prices very significantly across the board - more than
twice in the case of an 8-minute 15-second call to New Zealand.
A Sunpage spokeswoman told BT, 'We don't change our rates often but we did so this time because of the
strengthening US dollar.'
She added that Sunpage had only increased prices of calls to the US by a cent per minute to 19 cents.
She said that it is the company's philosophy that customers should benefit from calling overseas, so the
company would not increase prices by a large margin.
At the end of May, deputy general manager of Sunpage, Danny Lai, was reported to have said that
profitability would be difficult if rates went down further.
A spokesman from M1 said the company had not revised its IDD rates since last year's launch of its 002 and
021 services in August and October respectively. They also feel their rates are very competitive and plan to
maintain its competitive edge.
StarHub said its customers 'were very happy' with its rates and services, so it has no immediate plan to
change rates. However, if a need arises to make rates more competitive, it would do so, the company said.
SingTel, which despite all the competition still commands a market share of about 93 per cent, said it reviews
its rates regularly.
The last time it revised its prices was in May last year.
Its spokeswoman said that given the competitive environment, a general rate revision might now be less
relevant to users than price promotions as these allow users to select the best rates and services.
For Phoenixcomms, its pricing hinges in part on its cost of getting capacity.
Said its spokeswoman, 'It depends on what we purchase on the international wholesale market. We normally
pass on savings to our customers.'
And with SingTel and StarHub starting to charge for calls made through their payphones to IDD providers'
toll-free numbers, some operators may also have to raise rates to offset the extra charge.
So, does this mean that subscribers are in for a bout of steep price rises or is the industry settling down?
Ng See Nguan, managing director of service provider iTopia, thinks the latter is the more likely scenario.

'We've moved from a state of confusion to a stable position now; we're not likely to see big changes in
pricing,' he said.
The cost element apart, the focus of competition among service providers is also changing. From trying to
serve up the lowest rates, operators are now emphasising quality service as the number of operators in the
industry consolidates. 'I think we've reached a state of natural equilibrium with the current number of
suppliers in the market,' said Mr Ng, who believes that the local market is now similar to Hong Kong's, where
the market is sustaining about a dozen service providers.
Document stbt000020010716dx6c003wv

A truly educational experience in Japan.
By Melissa Sim.
1,099 words
12 June 2001
STBT
English
TIME to pack up and head east. That's exactly what Ting See Ho and Yeo Whee Jim did when they were told
they would be given Public Service Commission (PSC) scholarships to study in Japan.
Whee Jim read mechanical engineering at the University of Osaka (and has since returned), while See Ho is
still doing electrical and electronics engineering at Tokyo University. Though both of them ended up on the
same island, the two have some very different views and experiences to share, which go to show that a
tertiary education can truly be a unique experience.
The academic environment in Tokyo is extremely rigorous. 'It's very much like the rest of East Asia - getting
into a top university is very difficult but getting out is pretty easy,' says See Ho.
On the other hand, Whee Jim observed that some students at his university were not at all serious about
studying. In fact, he feels that was more the norm than the exception. 'Japanese students have worked so
hard through primary school and secondary school that when they finally get to a good university, they start to
cut classes and just have fun,' he says.
Both, however, agree that discipline and independence are of utmost importance.
Whee Jim adds that if you miss anything, the onus is really on the student to catch up. Says See Ho: 'As far
as I know, the professors in Singapore always dish out tonnes of notes to the students together with tonnes
of tutorials. Over here, you hardly get a piece of paper out of the professors; you will need to copy each and
every word yourself. Furthermore, tutorials are an exception rather than the rule.'
According to Whee Jim, the Japanese system is very much like the American one. He spent the first year
doing liberal arts such as physics, mathematics, Japanese history and art. Only after that, did he embark on
his core engineering modules. He also spent three months in Helsinki on an exchange programme. There he
worked with a valve company and met Greeks, Estonians, Spanish, Koreans and Japanese.
One of the interesting things about studying in Japan is that a student can always apply for a part-time job
permit if he feels he has some extra time on his hands.
Whee Jim applied for a permit and has fond memories of working part-time in a bakery for four years.
'I'm proud to say that I was able to gain my bosses' trust, though the Japanese tend to be rather xenophobic.
My boss would leave me in charge of the shop and I would be responsible for bringing the money up to the
vault at the end of the day,' he recalls.
Two of his other part-time jobs include teaching English in a school and promoting a new telephone line over
the phone. 'I also volunteered at the International Students' Centre where I did translation for students who
were visiting Japan for short stints. These were usually research students who would stay in Osaka for a term
or two. Some didn't understand Japanese at all!'
See Ho is always kept busy organising regular activities for Singapore students to get together and helping
fellow Singaporeans when problems arise. 'We have a student body here called Singapore Students'
Association in Japan (SSAJ) and I'm currently serving as the vice-president of the executive committee,' he
says.
What can one do during the holidays that would not be possible in Singapore? Travelling was the
spontaneous answer. Whee Jim went globe trotting, leaving his footprints in places like Hong Kong, Canada,
the US, Russia, Estonia, Norway. He even went backpacking in China.
Says See Ho: 'Snow-boarding during the winter vacations is something that you definitely cannot do in
Singapore.'

He also waxes lyrical over the difference in climate that Japan offers. 'As a country with four seasons, there's
always something to look forward to in Japan. For example, the cherry blossoms in spring, the singing
cicadas in summer, the beautiful red maple leaves in autumn and the occasional snow in Tokyo for winter.
Somehow, you just feel closer to nature,' he enthuses.
Another plus was the deep insights into Japanese people and culture.
'Two things struck me,' says Whee Jim. 'Firstly, it's the extreme pride that the people take in everything
regardless of how menial the task is. They pay attention to everything down to the last minute detail and
always inculcate a sense of pride in service in their people.'
'Secondly, the Japanese are good at learning from other cultures and implementing it in their society, yet
retaining their culture.' He cited examples like the tatami room, which is the traditional room that the Japanese
have even if they live in modern abodes, and have cuisine like fish eggs and spaghetti, which is obviously a
fusion of East and West. 'If you look at our own society, we, too, can learn from the rest of the world and take
elements from their culture and weave it into our own,' he says.
See Ho, on the other hand, noticed another trait of the Japanese while studying in Tokyo. He says Japanese
may not be the best academically, but in terms of work ethics and teamwork, he believes that there is much
for Singaporeans to learn.
'Singapore has been pushing for creativity and individuality and in a certain sense that is essential. However,
as we all know, in the real world nothing can be done alone. We need to work in teams. As a team, the
Japanese can beat anyone in the world.'
Asked to give reasons why someone should consider studying in Japan, Whee Jim cites being in charge of
your life and picking up a foreign language, which would be a great asset in the future as his top two reasons.
Says See Ho: 'Economically, strategically, technologically, Japan plays a very important role in the world,
especially in Asia. Japan is the second biggest economy in the world, and I guess Japan alone has put in
more money in South-east Asia (in the form of subsidies and aids) than any other country in the world.
Technology-wise, Japan is not a pushover either.' He adds, 'If you want to be in the 'in-group' when the
Japanese economy picks up again in the next five to ten years, do come over.'
For more details on education in Japan, email Mdm Ninomiya of the Japanese Embassy at
eojs04@singnet.com.sg.
Document stbt000020010716dx6c003wt

All for added challenge and excitement.
By Melissa Sim.
591 words
12 June 2001
STBT
English
Scholars head for non-English speaking universities
ONCE upon a time, going to the United Kingdom and the United States to pursue tertiary education was
sensational. Now, they have become rather run of the mill. Instead, the added challenge and excitement
comes when a student heads for countries where the medium of communication is not English. Students are
agreed on this point and so have many scholarship-awarding organisations.
Two of the largest scholarship awarding bodies are the Defence Science & Technology Agency (DSTA)
and the Public Service Commission (PSC). Both send scholars not only to the UK and US, but also to
countries such as Sweden, France, Germany, China and Japan.
'Our scholars from continental Europe, Japan and the People's Republic of China are exposed to cultures,
values, political as well as economic systems derived from non-English traditions,' says Charlotte Beck,
director, PSC secretariat.
'They also gain insight into the social psyche of a society and culture beyond the countries we are more
familiar with. Hence, they develop a different perspective of the global community and of Singapore's place
in the international landscape.'
DSTA sends its scholars to Sweden and France to receive tertiary training in specialised courses in their
universities, which offer practical programmes in engineering and sciences. The agency feels that it is
important to have a talent pool of scientists and engineers to build up strong defence capabilities.
This is despite students like Chong Chin Yuan, a DSTA scholar who is currently studying at Lund Institute of
Technology, Sweden, having expressed their concern. 'The language barrier is a big problem. It is difficult to
be fluent in Swedish even if the ability to read and write the language is achieved relatively easily. Sometimes
it can be difficult to join in a discussion when one is less fluent in Swedish.' He adds that many barriers may
be self-imposed. Things may not be so bad after the initial reservations are overcome.
PSC scholar Murthy Ashvin Manohar also cautions that if you are an introvert and don't really adapt well in a
different environment, France might not be the place for you. However, he advises others to be exposed to a
'completely different culture'. 'It'll help you see another side of life you might not have been exposed to in
Singapore,' he says.
Ranking for non-English speaking universities is rare or even non-existent. DSTA and PSC, however, have
identified some in various countries.
For France, some recommendations include the Ecole Polytechnique, Paris, and the Ecole Centrale de Paris;
in Germany, the Rheinisch-Westfalische Technische Hochschule Aachen (RWTH Aachen) and the
Technische Universitat Munich; in Japan, the University of Tokyo and Hitotsubashi University; in China, the
Beijing University and the Fudan University.
As for Swedish universities, DSTA cited the Royal Institute of Technology (KTH) and Lund Institute of
Technology (LTH).
Ms Beck emphasises the need for people who can not only relate to an increasingly sophisticated public, but
also be able to work in a complex environment. Therefore, an extensive range and depth of experience is
necessary.
'We believe that the main difference between students who return from different universities is the
perspectives held. A scholar would be much more influenced by and better able to relate to the specific
concerns in his country of study.'

Indeed, that is one of the many reasons why scholarhip-awarding bodies would give foreign universities -
even those in non-English speaking countries - their nod of approval.
Document stbt000020010716dx6c003ws

An FTA worth waiting for.
628 words
12 June 2001
STBT
English
ALTHOUGH the bilateral free trade agreement (FTA) between Singapore and the United States is moving
into higher gear, it is still uncertain if a deal can be concluded by the year-end - as earlier hoped - largely
because of the exigencies of US politics.
Still, delays of this sort need to be taken in stride. From what has been made known thus far, the agreement -
the first between the US and any Asian country - is likely to be a trendsetter, with innovative pacts in such
areas as telecommunications, e-commerce and a variety of services. Even the manner in which the
negotiations have been conducted - with virtually none of the bickering or rancour commonly seen in trade
talks - is something of an object lesson.
Nevertheless, over the last few weeks, a number of events have taken place which dim the prospect of an
agreement on the Singapore-US FTA by the year-end. One is the tax cut plan presented by President
George W Bush earlier this year. The plan has a number of controversial implications and will preoccupy the
US Congress for a while yet. Other issues - including the US-Singapore FTA - could be moved to the back
burner. Second, owing to the defection of one senator, the US Senate is now controlled by the Democrats.
When it comes to trade agreements, Democrats typically favour stronger provisions on the sensitive issues of
labour and environmental standards. Dealing with these issues may therefore take longer than might
otherwise have been the case.
A third issue is that the US resolved last week its main trade differences with China. Now that the way is clear
for China to join the World Trade Organization (WTO), there is a real prospect that a new round of multilateral
trade talks may be decided upon at the WTO Ministerial Meeting in Doha, Qatar in November. US lawmakers
and trade officials may prefer to give priority to shaping the agenda for that critical meeting than to bilateral
FTAs.
Finally, it is not clear when the US Congress would give Mr Bush 'fast-track' authority to deal with trade
agreements (under which Congress can only vote for or against a particular agreement without picking apart
its provisions). Such authority will only be granted when major political constituencies in the US are reassured
that the administration's positions on key issues will not run counter to their interests.
However, while the timeline for a Singapore-US FTA may have to be stretched, there is little doubt that it will
happen - and that it will be worth waiting for. Singapore can use the waiting period to reassure its trade
partners in the region that an FTA with the US - like those with other countries - will not be inimical to their
interests. Some Asean countries have expressed their misgivings about the trade diversion that will result
from Singapore's bilateral FTAs - and particularly about the possibility of these agreements conflicting with
provisions under the Asean Free Trade Area (Afta).
Safeguards
Singapore must make clear the fact that there are sufficient safeguards, both within Afta, and hopefully,
within the FTAs, to ensure that such fears are unfounded. Moreover, it needs to stress the case that its FTAs
will help boost investment flows to the region, given the strong synergies between the economies of
Singapore and the rest of Asean.
Singapore must also underline its continued commitment to the WTO process, making the case that its
pursuit of bilateral FTAs does not in any way weaken this commitment - just as the North American Free
Trade Agreement and the European single market did not weaken the transatlantic commitment to
liberalisation under the Uruguay Round of trade talks, and Afta did not compromise Asean's commitment to
multilateralism.
Document stbt000020010716dx6c003wo

Li Peng praises SM Lee for his role in SIP's success.
From Loh Hui Yin In Beijing.
464 words
12 June 2001
STBT
English
SENIOR Minister Lee Kuan Yew was instrumental in the birth of the Suzhou Industrial Park, according to a
top Chinese leader yesterday.
Mr Lee's support for the park ensured it 'bore fruit and blossomed', said Li Peng, chairman of the National
People's Congress.
The Chinese leader spoke highly of the achievements made by the park in the past seven years, attracting
foreign investors and learning from Singapore's experiences. He also praised Mr Lee's contribution to the
park's development.
Mr Li, who greeted the Singapore leader warmly when they met at the Diaoyutai guest house, said: 'A
number of years ago, you were the very person who raised the idea of building the Singapore Industrial
Park.
'There were many discussions. I myself was involved in this project. The project has borne fruit and
blossomed, thanks in part to your support.'
Mr Li was then prime minister of China when he and Singapore Prime Minister Goh Chok Tong witnessed
the signing of the 1994 agreement which launched the SIP project. The agreement was signed by Mr Lee and
Chinese Vice-Premier Li Lanqing who has personal oversight of the SIP project.
Mr Lee, who is now on the last leg of his China trip, had earlier visited Suzhou where he attended
celebrations marking its seven years of achievements.
'Their wide-ranging discussions were held in a very cordial and warm atmosphere,' said the senior minister's
press secretary on the meeting with Mr Li.
The two leaders exchanged views on international affairs, including Sino-US relations, she added. The
meeting lasted more than an hour - longer than the scheduled half an hour. The Chinese leader also hosted
dinner for his guests.
Mr Li also briefed the Singapore leader on China's plans to develop its western region, comprising 11
provinces and regions, to narrow the wide economic gap between its rural and often poorer interior region
and the booming coastal region.
China is encouraging foreign businessmen to invest in the western region. A big business delegation from
Hong Kong, led by Chief Secretary Donald Tsang, recently visited the region to explore business
opportunities.
Mr Lee, who visited Beijing only last year, observed that he is always surprised by the changes in the
Chinese capital each time he comes here. Beijing's traffic has improved, with a network of freeways and
flyovers, while buildings keep sprouting up like mushrooms, he said.
Mr Lee expressed the hope that in Beijing's push to modernise, it will keep its old buildings. Otherwise, it will
become like any other modern city without character.
'I agree with you,' said Mr Li.
The Singapore delegation leaves for home today.
Document stbt000020010716dx6c003wn

Domestic factors favour growth.
By Chuang Peck Ming.
328 words
12 June 2001
STBT
English
EXTERNAL demand has fallen more sharply than economists expected, pointing to further weakness
ahead. But domestic factors should help soften the blow, and with US interest rate cuts, keep the economy
growing, though at a much slower pace, says Overseas Union Bank (OUB) in its latest Financial Review.
OUB expects the economy to grow 3.5 per cent this year - at the lower end of the official forecast of 3.5 to
5.5 per cent - before picking up next year. The bank's projection is based on a rebound in the US economy in
the second half of the year and a recovery in the global electronics industry.
'A lot will rest on the Federal Reserve's ability to jumpstart the US economy,' OUB says. 'Fed chairman
(Alan) Greenspan's dismissal of any inflation threat signals the Fed stands ready to cut rate further to sustain
economic expansion.'
Domestically, OUB thinks the government - piling up large surpluses despite the slowdown - could offer
another fiscal boost in the later part of this year if global conditions worsen. 'The government's record of
annual fiscal surpluses gives it plenty of scope to provide counter cyclical stimulus,' it says.
Also, in contrast to the 1997-98 financial crisis, when interest rates soared in defence of the Singapore
dollar, interest rates this time around will be more supportive of economic expansion, OUB says.
Three-month interest rates are now hovering around 2 to 2.5 per cent, against 6 to 8 per cent in 1997-98, it
points out. And with imported inflation trending down, interbank rates will stay low for the rest of the year.
Other domestic factors that favour growth are higher capital spending, leading to a record $3.2 billion in
investment commitments in the first quarter; continued consumer spending, helped by jobs growth; and
continuing strong exports to Japan, thanks to a competitive Singapore dollar and more Japanese
outsourcing.
Document stbt000020010716dx6c003wk

US wants FTA with S'pore to serve as a model - PM Goh.
From Catherine Ong in Washington, Dc.
361 words
12 June 2001
STBT
English
THE United States wants a free trade agreement it is negotiating with Singapore to serve as a model trade
pact for other Asian countries, Prime Minister Goh Chok Tong said after his first meeting with President
George W Bush yesterday.
Speaking to reporters outside the West Wing of the White House, Mr Goh said Mr Bush reaffirmed the
importance of the FTA.
From their discussion, Mr Goh said, 'I extrapolated that the agreement must not be confined to the US and
Singapore alone. At the right time the US may wish to get another country to sign on to the FTA. So we do
this for strategic reasons, not just for Singapore's own interests.'
The two leaders met for 25 minutes on a busy day for the White House. Mr Goh was the first South-east
Asian leader to be received by the Bush administration.
Asked if Mr Bush had indicated when the FTA could be put into effect, Mr Goh said: 'We never discussed the
time frame. I don't believe in setting deadlines.'
In a statement issued after the meeting, the White House said the two leaders will review the progress of the
FTA negotiations when they meet at the Apec meeting in Shanghai in October.
The statement added that 'both sides remain committed to attaining a world class agreement that reinforces
their strong commercial and political ties as soon as possible'.
The two leaders also discussed developments in China, Indonesia and Asean.
Mr Goh said his message to Mr Bush was that the US should show a greater interest on Asean in order to
help the regional grouping inspire confidence in the international community.
He also stressed the importance of US-China relations to Mr Bush, adding that relations must not be allowed
to go wrong.
The White House statement also reaffirmed the importance and vitality of the US-Singapore relations.
On Indonesia, the two leaders expressed strong support for its transition to a more democratic society and a
market-oriented economy as well as its territorial integrity.
Document stbt000020010716dx6c003wj

Long periods of good US-S'pore ties, says envoy.
By Lee Siew Hua.
600 words
11 June 2001
Straits Times
STIMES
English
Michael Fay episode does not reflect true nature of ties, and both nations have moved ahead into areas like
the new economy, says Chan Heng Chee
WASHINGTON - Singaporeans seem to remember the Michael Fay episode clearly.
But the reality is that Singapore and the United States have enjoyed long periods of excellent ties in the past,
while the richly-diverse relationship has also moved ahead into areas like the new economy.
Ambassador Chan Heng Chee, commenting on the overall state of bilateral relations, told The Straits Times
in an interview: 'Singapore seems to remember the Michael Fay episode clearly. It becomes the benchmark
against which we measure US-Singapore relations.
'But we forget that we really did have long, good periods of excellent relations during the Nixon, Reagan and
Bush presidencies.'
The Michael Fay caning happened during the first Clinton administration.
By his second term, the episode was receding and the two nations were rebuilding relations.
There were many decent intervals of excellent ties because of many shared, substantive interests, Prof Chan
noted.
To begin with, Singapore and the superpower have the same strategic perspective and solid economic
links.
She said: 'Singapore's relations with the United States are atmospherically very good, and substantively very
good.
'We have strong relations in the defence area. We cooperate diplomatically, politically and in multilateral
forums. And we have just launched negotiations for a US-Singapore FTA.'
Beyond these major policy issues, Singapore and the US are richly linked in areas like high technology and
education.
'We come to the US to find out how the schools are able to create this atmosphere for learning where there is
a lot of experimentation - the sort of creative education that we would like to see introduced in Singapore,'
she said.
'Many of our officials and businessmen visit Silicon Valley, Route 128 and the North Carolina triangle to find
out how the new economy, in terms of IT and the life sciences, operate.'
Recently, Singapore's standing in the US and the world shot up after the global financial crisis, she noted.
'I think there's an appreciation that we have got the right policies, good governance, transparency and we
have been able to cope with globalisation very well,' said Prof Chan.
'The region has also been in a state of difficulty - Indonesia in turmoil - and I think there's a sense that there's
one place which is stable, which is predictable.
'And so the US administration officials want to talk to Singapore about what's happening in the rest of the
region.'
She added: 'So I can see we can deepen the relationship in many ways, officially and non-officially.'

In the years since she became Singapore's envoy to the US in July 1996, she has been increasingly struck
by the sources of creativity in the US.
This is an open society that has captured leadership in the sciences, arts, technology, sports and a vast array
of fields, she noted.
In Washington and on Wall Street, and in big cities like Boston, she is struck by the efficiency of thought.
On a wider context, she is struck by the bright attitude towards ageing.
She said: 'People feel engaged and interested up to an old age. I am struck that in Singapore, so many
people want to retire at 55, and take it lightly.
'Here they are about to start a second career.'
For instance, she has met Mr Andrew Marshall, 79, who is conducting a strategic blueprint for the Pentagon.
Document stimes0020010715dx6b009t1

Philippine Airlines relying on overseas workers.
By Yeoh En-lai.
471 words
11 June 2001
Straits Times
STIMES
English
Airline is set to emerge out of receivership in five years, thanks to overseas Filipino workers
PHILIPPINE Airlines believes it is on track to emerge out of receivership in five years, thanks to an
ever-increasing overseas Filipino worker (OFW) client base.
Despite a depressed domestic economy, a regional air-traffic slump and cost-cutting measures, airline
president Avelino Zapanta said they were relying on the more than 100,000-odd Filipino workers in
Singapore and large numbers in the Middle East and North Asia to reach their profit goals.
The airline has a US$2-billion (S$3.6-billion) debt but recently posted an unaudited net profit of 436.5 million
pesos (S$16 million) for the fiscal year ending March 31, an eight-fold increase over the previous fiscal year.
'We have a very steady traffic stream even during the most difficult times.
'The overseas Filipino workers you see here and in the Middle East, Japan, Europe - they are our market,'
said Mr Zapanta.
'We are very encouraged by our financial results. We hope this is something we can sustain.'
And to thank the Filipinos in Singapore for their support, Mr Zapanta flew down for the day-long
PAL-sponsored Philippine Independence Day events at Sentosa.
More than 1,000 Singapore-based OFWs turned up for the celebrations.
'Every route we fly these days, they constitute a very big portion of the market. We also rely a lot on the
returning migrants for our share,' he said.
PAL resumed services to Taipei, Sydney, Pusan and Jakarta in the past year.
He explained that tapping into the OFW market was currently the only way out for the airline as tourism was
going through a bad patch.
'And unfortunately, Manila is not a transit point,' he said.
On the effect of the Abu Sayyaf and Moro Islamic Liberation Front rebel groups on PAL's bottom line, Mr
Zapanta said: 'It is isolated in the south. I think Mr Gordon is doing what is necessary for the industry.'
He was referring to Philippine Tourism Secretary Richard Gordon.
But he said the advertising budget for Philippine tourism was about US$600,000 per year, a far cry from the
budgets of other South-east Asian nations.
'How can we compete with such a small budget? There is so much to see but no one knows about it,' he said.
When asked about the possibility of joining a network such as Star Alliance, Mr Zapanta said: 'Since we're
still under receivership, we're not that attractive. But maybe after we list on the stock exchange.'
Mr Zapanta hopes to list Asia's oldest airline in three years.
'In 10 years, we hope to be among the region's bigger airlines,' he said.
Document stimes0020010715dx6b009sw

Political sites won't affect local politics - Web editors.
By G. Sivakkumaran.
805 words
11 June 2001
Straits Times
STIMES
English
Their websites offer Singaporeans different perspectives and allow them to talk openly, they say
MOST of the websites dealing with local politics or current affairs just want to present Singaporeans with an
alternative viewpoint, the websites' editors say.
They do not think they can either affect election results or have a major impact on local politics.
Along the way, they have managed to convince some people that it is possible to talk about things openly,
albeit anonymously at times, in Singapore.
Said Dr Tan Chong Kee, the editor of local current affairs website Sintercom: 'When we started, many
e-mailed me to ask how I was allowed to do that. We don't get such questions anymore.'
There are at least 14 other websites and bulletin boards which feature local politics in their discussions or
online articles.
Singapore Window's editor, who goes by the pseudonym Justus Semper, said: 'Almost everyone accepts
information from the Government, for there are no real windows for contrary views.'
Alternative news can take different forms. Satirical site TalkingCock.com, for example, pulls no punches when
it presents news in a funny and irreverent manner, as opposed to the 'idealised or sanitised image of
Singaporeans', which its editors say the local media presents.
Singaporeans For Democracy, on the other hand, usually takes an 'in-your-face' approach. Most of the letters
and articles posted at its site are very critical of the ruling People's Action Party.
For now, the website TalkingCock.com seems the most popular, with 14,500 hits a day, followed by
Sintercom with 9,000.
The other websites get around 100 to about 5,000 hits.
A typical visitor is young, tertiary-educated and has constant access to the Internet - not at all representative
of the average Singaporean, admit the website editors.
Mr A. Ravi, 26, a masters student studying in Britain who frequents the political websites, said: 'It is like online
coffeeshop talk, it cannot change anything.'
Still, the Government is concerned about the speed at which disinformation can spread over the Internet.
Last Friday, Deputy Prime Minister Lee Hsien Loong announced that the Elections Department is now
studying new rules on how political parties can use the Internet during election time.
As expected, editors of political websites are against any regulation, viewing them as unnecessary and
restrictive.
Said Steve Chia, secretary-general of the National Solidarity Party: 'Regulation restricts freedom of thought
and expression, which are important if political information and ideas are to be generated and discussed.'
SOME POLITICAL WEBSITES
PEOPLE'S Action Party - www.pap.org.sg and www.youngpap.org.sg
These are the PAP and Young PAP websites and, essentially, they provide information about the party.

The Young PAP website has a discussion board which is moderately active. Both sites carry information
about party activities.
The National Solidarity Party - www.nsp.org.sg
After a recent revamp, the NSP's website now has more news about the party, as well as an active
discussion board.
The website is for people who want to know more about the party, said NSP secretary-general Steve Chia.
TalkingCock.com - www.talkingcock.com
Updated weekly, this satirical website takes the mickey out of everything Singaporean, from politics to sports.
The editors say that apart from making people question their assumptions, they 'hope they have zero impact'.
Sintercom - www.sintercom.org
The first website to deal with local current affairs, its bulletin board is host to lively discussions on local politics
and issues of the day.
It also has a section called Not The ST, which features letters that it claims were either rejected or 'censored'
by The Straits Times Forum page.
Singapore Window - www.singapore-window.org
You can find news articles about Singapore gleaned from many different sources at this site. The articles are
arranged under headings like Rights, Economy and Lifestyle.
Editor 'Justus Semper' said the website, which is updated once or twice a week, provides only news and
opinions about Singapore and has no political agenda.
Think Centre - www.thinkcentre.org
The website provides a place in cyberspace where people can have political discussions.
Letters from the public, opinion pieces, articles, as well as a weekly editorial, are published at the site.
Singaporeans For Democracy - www.gn.apc.org/sfd
The site has a distinctive non-PAP stand, reflected in the articles which focus on human rights and opposition
figures like Dr Chee Soon Juan.
Its aims, published on the website, include promoting democracy in Singapore and presenting an alternative
to PAP 'propaganda'.
Littlespeck - www.littlespeck.com
The website of Mr Seah Chiang Nee, a former editor of the Singapore Monitor and currently a columnist with
Malaysian daily The Star.
The site includes sections on politics, economics and technology.
Document stimes0020010715dx6b009sn

Rescue bid for insolvent medical group.
By Elena Chong.
268 words
11 June 2001
Straits Times
STIMES
English
A HOMEGROWN health-care group, Beng & Ooi Medical Services, which is part-owned by
government-linked company, Singapore Technologies Industrial Corporation, has asked to be placed under
judicial management.
The group runs several clinics and a medical centre.
The 23-year-old organisation was started by a former Member of Parliament, Dr Arthur Beng, and his wife, Dr
Ooi Siew Hong.
Formerly known as Beng & Ooi, the company has a paid-up capital of nearly $18 million.
The High Court will hear the petition on Friday.
Three accountants from Ernst & Young have been nominated as judicial managers.
Instead of being wound up, a company that cannot pay its debts can apply to the court for a judicial
management order, where there is a reasonable chance of it being rehabilitated or preserving all or part of its
business as a going concern.
In 1997, Singapore Technologies Industrial Corporation (Stic) paid $2.9 million for a 16.2-per-cent stake in
Beng & Ooi.
It was also granted an option to buy another $8 million shares in the company.
If Stic exercised its options fully, it would end up the majority owner.
An existing shareholder, Regional Investment Company, pumped in another $2 million at the time.
Regional Investment is owned by the Economic Development Board and Transpac Capital, a venture-capital
company whose owners include DBS Bank and NatSteel.
The balance of Beng & Ooi's shareholdings are held by six individuals.
They include Dr Beng, the managing director, and his wife.
Document stimes0020010715dx6b009sm

S'pore as BRAINS TRUST.
By Lee Siew Hua.
588 words
11 June 2001
Straits Times
STIMES
English
Republic helps the US to understand the Asia-Pacific by offering clear perspectives of trends in the region
WASHINGTON - When Prime Minister Goh Chok Tong meets President George W. Bush and his new team,
he represents the brains trust that Singapore has become to the United States and other nations over the
years.
Singapore's Ambassador to the US, Professor Chan Heng Chee, told The Straits Times: 'Singapore is often
seen as a brains trust by other countries. We have ideas, we see things with clarity. We are able to analyse
what is happening in Asia.'
The United States has kept a constant eye on regional developments, she said, and Singapore has
contributed an objective perspective over the years and also has a sense about global trends.
Mr Goh's six-day visit to Washington DC began on Saturday.
US officials in different administrations have also referred to the Republic as a brains trust, including Mr
Stanley Roth, the State Department's chief policymaker on Asia-Pacific issues during the Clinton
administration.
Speaking to The Straits Times, Mr Roth, now Boeing's vice-president for international relations (Asia), placed
Mr Goh's trip in this strategic context: 'Even though Singapore is not a treaty ally, it is one of our best friends
in Asia.
'In many ways, it's a brains trust. It always thinks of the dynamics of the entire Asia-Pacific region. It plays a
role in helping the US understand the region because it is so intensely engaged in the region.'
He added: 'The US is not as well-informed as it should be on Asia. Singapore is as well-informed as any

country can be on Asia. It has a lot to teach the United States.'
One US official told The Straits Times: 'Singapore has traditionally looked at more than just the bilateral
relationship but other issues as well.
'That was one reason the United States visited Singapore to talk about National Missile Defence. We share
an interest in issues that have an impact on the region.'
He noted that Mr Goh will be the first Asean leader to meet the 43rd President. The two will meet for the first
time at the White House this morning (tonight, Singapore time).
Mr Goh will have separate meetings with top Cabinet members: Vice-President Richard Cheney, Secretary of
State Colin Powell, Defence Secretary Donald Rumsfeld, Treasury Secretary Paul O'Neill, US Trade
Representative Robert Zoellick and National Security Adviser Condoleeza Rice.
Another US official, learning of the number of calls that Mr Goh will make, remarked that his impressive
schedule was a statement of how this administration valued the strategic role played by Singapore.
The visit is expected to cover many issues.
However, Mr Goh's principal message is that the US must stay interested and engaged in Asia to foster
peace and prosperity.
Indeed, White House spokesman Ari Fleischer affirmed this when he said: 'The US-Singapore relationship
helps contribute to peace and stability in the Asia-Pacific region.'

Mr Goh will touch on US interest in the rich economic potential of South-east Asia, when he makes a
keynote address at the US-Asean Business Council.
The council's president, Mr Ernest Bower, told The Straits Times: 'The Prime Minister's visit has come at an
absolutely critical time for the US, when President Bush and the new Congress are taking a new look at
South-east Asia.
'His message is important in this context.'.
Document stimes0020010715dx6b009si

S'pore and Malaysia - Just like laksa dishes.
By Reme Ahmad.
373 words
11 June 2001
Straits Times
STIMES
English
SINGAPORE and Malaysia are just like the two countries' versions of the same popular spicy-noodle dish,
laksa - similar but with different flavours.
Speaking yesterday at the opening of a youth camp, National Youth Council chairman David Lim said: 'Here
in Penang, laksa is prepared with fish and assam stock.
'Over in Singapore, however, laksa is prepared with cockles and coconut milk. But for those who like one or
the other, the taste is always divine.'
Behind the banter lay a serious message. Mr Lim, the Minister of State for Defence and for Information and
the Arts said both countries were the same, yet different.
He said: 'Over the last four decades, we have developed in different ways, as two separate and sovereign
countries.
'We have collaborated, competed and cooperated to grow our economies and to develop our societies.'
'But the end result is two nations that stand as examples of what progress is possible if their people share the
same vision and values, and are united in their will to succeed.'
The five-day camp, at the Tanjung Bungah Water Sports Centre near the popular Batu Ferringhi stretch of
beaches, is being attended by 37 Singaporean and 40 Malaysian youths.
Mr Lim said Penang laksa was one reason why he spent his honeymoon on the island in 1980.
Hearing this, Malaysia's Minister of Youth and Sports Datuk Hishammuddin Tun Hussein posed a
good-natured challenge to his Singaporean guest.
'My wife and I went to Gurney Drive yesterday evening. We had two bowls of laksa each. So you guys have
catching up to do,' he said.
The camp, revived after a three-year hiatus, will see youths from both countries take part in sports and
trekking. The Singapore youths will also stay with Malaysian families for one night tomorrow to get a feel for
Malaysian family life.
At the recreation centre, Singaporeans and Malaysians will sleep in tents pitched by the beach.
Mr Lim said: 'Our youths cannot really know and understand the feelings, thoughts, and ambitions of their
counterparts just by reading the newspapers or watching the six o'clock news. What we need is face-to-face
contact.'.
Document stimes0020010715dx6b009sg

Manufacturing design software catches EDB's eye.
777 words
11 June 2001
STBT
English
SembCorp is among some Singapore-based corporations implementing this approach, reports TANG WENG
FAI
A FAST-DEVELOPING class of software that helps manufacturers design products more effectively is making
waves in some top Singapore-based facilities - and planners at the Economic Development Board (EDB)
are paying attention.
Engineering design collaboration software helps manufacturers work with both customers and suppliers
simultaneously on product design. It manages the flow of product data from design through to manufacturing.
Depending on the definition of the market, it can also include the whole area of engineering design software
that produces and updates the engineering CAD/CAM drawings and models.
EDB is clearly impressed by its potential. The board recently convened working groups to study this software
sub-segment and to plan new strategies to promote it in Singapore. A final report on the scope and direction
of the promotion activities will be done next month.
The manufacturing design collaboration problem is a challenging one. The supplier has to integrate data from
spreadsheets, design drawings and models as well as documents from a variety of sources. These together
form the manufacturing specifications for what the industry calls the 'bill of materials' (BOM), which collates
all the parts and sub-assemblies needed to produce a given product.
An example of the use of this technology comes from the electronics components exchange e2open which
set up its Singapore office in March this year. Last week e2open said its exchange had gone live worldwide.
Speaking to BizIT, Thomas Linton, vice-president and managing director for South Asia, says the software
part of the product design collaboration is currently hosted from out of the US. But that may change, he says:
'We're in talks now to decide whether to move the hosting of this to Asia and will make a decision on that,
perhaps in the third quarter of this year.'
He adds: 'We've been touring hosting facilities together with the EDB. Singapore might be a candidate for
the hosting of this kind of collaboration in the future.'
The case for this kind of collaboration seems a compelling one. Michael Segal, senior vice-president of
US-based MatrixOne Inc, tells BizIT: 'Given that industry benchmarks say that as much as 80 per cent of a
company's revenue come from product lines that have been designed in the last 12-18 months and with the
rapidly shortening life cycles of these products, there is a pressing need to make design collaboration as
efficient as possible.'
There is another take on the urgency of the problem. 'As much as 70 to 80 per cent of the total manufacturing
costs of a product are determined at the design stage,' he says.
'Rather than beat up suppliers every year to get another 4 per cent savings, the manufacturers are looking to
reduce costs through their own design process where the impact will be the biggest.'
Mr Segal adds: 'Direct materials which go into the end produce make up the bulk of costs. Focus on that and
you can take out cost inefficiencies.' An example he quotes comes from Celestica, one of the top tier contract
makers worldwide. Just two years ago, it had only two design and manufacturing facilities. Since then, it has
gone on an aggressive path of acquisition, and today operates 31 such facilities.
The task of coordinating the design and manufacturing at these 31 different sites is a large one, with
incompatible legacy systems, different languages and working processes. After implementing the design
collaboration, Celestica claims it recovered its entire investment in terms of reduced costs, reduced rework
and production delays, all within a year.

Another local example of its application is SembCorp which has implemented this product design
collaboration for design teams in its construction and project management arm, based on MatrixOne. The
project is expected to go live in July.
Worldwide, the software sector is still a small one, at least compared to more established segments like
enterprise resource planning. For example, CIMdata in February estimated that the market is worth US$4
billion this year worldwide. This is expected to top US$10 billion by 2004 growing at about 43 per cent during
the period. Services will account for more than half of the market by then.
CIMdata is a specialist industry analyst firm covering the industrial IT and engineering design software
sectors. Both software sales and associated services are included in CIMdata's estimate of the market.
Prominent vendors in this space include Parametric Technologies Corp, SDRC (Structural Dynamics
Research Corp), MatrixOne Inc, Unigraphics, and French-based Dassault Systemes SA through its
subsidiary companies.
Document stbt000020010716dx6b003wg

Booming despite the tech bust.
974 words
11 June 2001
STBT
English
VIKRAM KHANNA talks to the world's leading computer virus-buster, Steve Chang, whose company has
boomed through the tech-bust and is poised to ride the broadband wave
TECH stocks have crashed, tech spending is down and the outlook looks bleak, but here's a technology
entrepreneur who is, if anything, even more ebullient than during the boom.
Steve Chang, chairman and CEO of the Tokyo-based virus-busting and Internet security company, Trend
Micro, is still celebrating his company's explosive growth and expects it to continue. The company's stock
price has dropped more than 60 per cent from its highs in February last year ('We were free-riders on the
hype,' he admits), but its sales have behaved as if the tech-bust never happened. In the first quarter of this
year, ended March 31, they jumped 56 per cent to around US$56 million. And Mr Chang expects the curve to
keep climbing for as far as he can see.
What's Mr Chang's secret? For one thing, he refrained from participating in some of the excesses of the tech
boom to which so many technology companies were lured. 'We didn't do mergers and acquisitions, we didn't
set up any venture funds, we didn't do a dotcom spinoff, we didn't get into any of these tricky money games,'
he says. 'We were never interested. We only do anti-virus software, and that's it. Thirteen years ago, there
were only two of us in the company, me and my wife. Today, we are more than 1,000 people - and hiring like
crazy. And we still do the same thing. We enjoy catching viruses. And our growth is higher than before even
though we're bigger.'
Mr Chang's single-minded focus apart, Trend Micro also benefited from being in a segment of the Internet
industry that is more or less immune from the slowdown in technology spending: Internet security.
'Enterprises may cut their total budgets for IT, but security is critical and accounts for less than 3 per cent of
the total IT budget.' he says. 'So if you're a chief information officer and you screw up a US$10 million
Enterprise Resource Planning project because of spending cuts, you would have many excuses. But if you
allow your email server to go down because of a virus, you'll get an angry phone call from your CEO.'
To be sure, the Trend Micro story has had its glitches. Two years ago, Mr Chang had an ambitious plan to
develop an anti-virus solution that would be sold to telecom companies and Internet service providers (ISPs)
and application service providers (ASPs), thus obviating the need for PC users to install their own anti-virus
software. He described this strategy as 'cleaning out viruses at the level of the reservoir, rather than at the
water tap'.
But both telecom companies and ISPs were distracted by other issues, like financial problems and changes in
leadership. So Trend Micro's plans didn't quite work out. But now, after a shakeout in the ISP/ASP/telecoms
businesses, Mr Chang is confident that the survivors will take up his solution. 'Now these companies realise
that they can't just provide general hosting; they have to differentiate their services by providing value-added
features like security.'
But what most excites Mr Chang is the possibilities opened up by broadband Internet. 'Look at Korea,' he
says. 'In 18 months, 4.5 million people signed up for broadband. In the US, millions of households are
converting from dial-up access to always-on broadband. In China half a million households already have it. In
Singapore, I see that my hotel has broadband access. Broadband is becoming a part of life. You get
addicted to it. Once you try it, you never want to use dial-up again.'
So what difference does broadband make to anti-virus technology? 'The difference in broadband is that it's
always on,' says Mr Chang. 'It's like you're leaving the door of your house open when you sleep. All kinds of
intruders can come in. Viruses and hackers can attack the data in your PC. They can get your personal
financial information, details of your stock portfolio, they can destroy all your data, they can do anything. You
won't even know when or how they came, or even that they're there. And there's nothing you can do to stop
them.'

But soon, there will be, he says. A paperback-sized gizmo called 'Gatelock' will be available from Trend Micro
later this year and will cost about US$50. Just plug it into your computer, and all viruses and hackers will be
kept out.
'We've been doing this for many years for enterprises, who are willing to pay US$50,000 for our products and
who have IT managers to look after security needs,' says Mr Chang. 'So when broadband became widely
available, I thought I must do two things. First, I make this enterprise technology affordable to home users.
And second, I must make it simple so that there's no need for an IT manager; it should be so simple that even
my grandmother can use it.'
'Gatelock does everything automatically,' says Mr Chang, 'Software configuration, auto-update, auto-upgrade,
everything. It's plug and play. Install it once and it works forever. Later, if you want to block pornography or
anything else, we can add software for that also. Cool, right?'
He sees Gatelock as the key to sustaining Trend Micro's exponential growth. 'There are more than 20 million
broadband users in the world right now and we want all of them to have Gatelock,' he says. 'Really, they need
it.'.
Document stbt000020010716dx6b003we

S'pore IT market to grow another 56% by 2004.
By Andrew Wee.
1,006 words
11 June 2001
STBT
English
Research group Gartner Inc sees the Asia-Pacific market nearly doubling to US$287.6b in the same period
SINGAPORE'S mature IT market is expected to grow by more than half again by 2004, while the Asia-Pacific
region, excluding Japan, will nearly double its IT market during the same period, according to research by
Gartner Inc.
Singapore's IT market is expected to grow from US$7.5 billion now to US$11.7 billion by 2004.
Gartner defines the size of the IT market as the total value of goods manufactured and services provided in
the country, and value of goods and services sold in the country. It divides the market into four industry
segments, namely: Hardware: personal computers, workstations, servers and peripherals. Software: software
infrastructure and applications. Telecommunications: telecom services and equipment. IT services:
consulting, development and integration, IT management and outsourcing, business process management,
education and training, hardware and software maintenance and support.
IT services, Singapore's second largest IT segment, accounts for US$1.9 billion or 25 per cent of the total IT
market now and is expected to leapfrog the telecoms segment by 2004, accounting for US$4.1 billion or
about 35 per cent of the Republic's total US$11.7 billion market. The largest IT segment now, telecoms, is
worth US$3.2 billion now and could grow to US$3.5 billion in the same period.
In the Asia-Pacific region, excluding Japan, Singapore will continue to retain its No 8 ranking by IT market
size, out of 11 countries surveyed, through 2004.
Gartner Research Japan and Asia-Pacific Tokyo-based group vice-president Craig Baty told BizIT:
"Singapore's IT market rank is not a sign of it slowing down, but other countries are growing faster. With a
population of four million and a limited surface area, Singapore is a relatively mature and safe market, but
you're not going to get extremely high growth here."
Singapore and Australia are ranked as low-risk and attractive IT markets, said Mr Baty. "Singapore is
viewed as one of the safest areas in the region to place any form of central IT processing. It has good access
to infrastructure, a constant supply of electricity, clean water, consistent temperatures and a highly skilled
multilingual talent pool." Examples of IT processing centres are high volume data processing centres, call
centres, knowledge and information resource centres.
CHINA IN THE LEAD
However, while Singapore ranks high in IT maturity, China and India are better long-term growth prospects,
according to Gartner. China leads the 11 Asia-Pacific countries in IT market size, according to the research
group's forecasts. The region's largest IT market, worth US$82.9 billion now, China is followed by Korea,
Australia, India, Taiwan, Hong Kong, Malaysia, Singapore, Thailand, Indonesia and New Zealand.
China will continue to lead the region in 2004, with a market worth US$166.6 billion. An expected surge by
India should take it to second place, followed by Australia, Korea, Taiwan, Malaysia, Hong Kong, Singapore,
Indonesia, Thailand and New Zealand.
The region is expected to grow about 88 per cent to US$287.6 billion, from US$152.8 billion now.
Mr Baty agrees that the slowing US economy has had an impact on Asian markets, but says demand for IT
is "still much stronger than it was during the various Asian crises".
He adds: "The region's demand for technology is growing faster than any other part of the world and the
downturn seems to be limited mostly to capital expenditure items like hardware and some semiconductor
segments."

However, decreased hardware spending is more than made up for by the booming IT services market. The
region's recent economic crisis has served as a catalyst for Asian enterprises to e-enable themselves and
boost productivity.
Comments Mr Baty: "What is surprising now, compared to three years ago, is how fast services have taken
off in the region." He notes that family-owned businesses had traditionally not favoured the idea of using an
external service provider. "However, the Asian crisis brought forward by five years the concept of services as
a viable part of an organisation's IT strategy. It has helped the services business to grow faster, because
people who need to put a greater emphasis on productivity, but can't afford the capital expenditure and don't
have the broad range of requisite skills, will look towards a service provider."
The growing trend of Asian companies looking to external service providers could result in a boom for global
IT services providers such as IBM Global Services, EDS and CSC as well and local players like National
Computer Systems and Singapore Computer Systems, he says.
IT services firms, which in many cases account for between 20 and 25 per cent of hardware and software
vendors revenues on a worldwide scale now, could see this double in the future.
"IT services firms are already important customers of vendors, but in the next five years or so, it is
conceivable that more than 50 per cent of IT purchases will be made by these companies, which will then, in
effect, become the "users'."
ALLIANCES AND TIE-UPS
This would result in a steady increase in alliances and tie-ups between vendors and consulting firms, such as
the attempted integration of Hewlett-Packard and PricewaterhouseCoopers, which was ultimately
unsuccessful.
Tie-ups between vendors and IT services firms will become more important as product-related IT business
continue to generate lower profit.
"In general, hardware and telecoms equipment will become more commoditised with margins continuing to
drop during the forecast period. This means that services-related businesses will become increasingly
important as it generally is a higher margin business, requiring high levels of customisation," he says.
Mr Baty will be in Singapore to speak at a two-day Gartner conference, "Exploiting IT for business
transformation", which opens on Thursday.
Document stbt000020010716dx6b003wb

Briefly.Com.
By Compiled by Trina Foo.
278 words
11 June 2001
STBT
English
Entellium offers eProject
ENTELLIUM, a Malaysia-based Web service provider, has launched eProject, a Web-based collaborative
project management tool for businesses. It organises tasks, manages timelines, and has further
cross-project management and reporting capabilities. Visit www.entellium.com.
New layer for Internet addresses
STG Interactive, a French provider of applications and protocols and high availability server farms, is
accepting address subscriptions for space on a new layer on the Internet called the Frogans Layer. These
addresses, in the form of 'frogan*your brand', are available at www.frogans.com.
SriLankan Airlines re-launches website
SRILANKAN Airlines has re-launched its website, featuring passenger reservations, interactive route map
and flight arrival and departure information updated every 15 minutes. Visit www.srilankan.lk. It also launched
its cargo website, www.srilankancargo.com which allows cargo reservations and en route cargo tracking to be
done online.
Rising Net usage in Asia
HONG KONG-BASED Internet measurement company NetValue has found that Asia has 10 million
households connected to the Internet. Singapore leads Asia with 50.6 per cent adoption rate. In March,
users from Singapore, China, Hong Kong, Korea and Taiwan spent an average of 12.2 days connected to
the Net. With the exception of China, the time was mostly used on non-web protocols, applications used
without going through a browser. For example, Hong Kong users liked instant messaging, Singaporeans liked
chat, and Koreans liked gaming.
RSA's new security server
US-BASED RSA Security Inc has launched its new ACE/Server 5.0 software, featuring database replication
and Quick Admin, a Web-based administrative tool. Visit www.rsasecurity.com.
Document stbt000020010716dx6b003wa

Managed services provider market sees rapid growth.
725 words
11 June 2001
STBT
English
Korea's iWorld taps Singapore's potential with new $2 million network operations centre, reports ELIZABETH
SU
WITH demand for managed services providers (MSPs) rising in the region and worldwide, Korea-based MSP
iWorld Networking has pumped in close to $2 million to build a Network Operations Centre (NOC) in
Singapore.
According to the Meta Group, the managed services provider (MSP) market will, conservatively, reach US$10
billion in revenue by 2005. It also estimates that all Global 2000 companies will engage at least one MSP
within 2001.
Bruno Lee, managing director of iWorld Networking (Pacific), defines an MSP as an external service,
engaged on a subscription basis by organisations, to manage infrastructure resources, applications or
security. Tools are externally hosted or hosted within customers' environments with the MSP doing the
implementation.
It's a service he says his company understands well. Incorporated in October 2000, iWorld started operations
in March this year. To-date, the company has more than 30 customers in Asia Pacific, three of them in
Singapore. One local customer is PNG Asia which uses iWorld's infrastructure services.
Headquartered in Seoul, iWorld has three NOCs - in Seoul, Tokyo and Singapore - and has plans to
establish NOCs in China and Australia in Q4 2001. They provide advanced web-based infrastructure
monitoring services covering a range of servers, network devices, Internet services, web servers and
databases. The NOCs are connected to each other, providing backup and mirroring to prevent data loss or
downtime for iWorld customers. They are also equipped with power failure protection systems, and
comprehensive security and fire protection.
Mr Lee said: 'We intend to invest another $750,000 in capital expenditure in Singapore by mid-2002. This
includes equipment and software licences.'
iWorld was founded in February 2000 by Dr Jin Ho Hur, founder of Korea's first commercial Internet service
provider, Inet, which was later sold to PsiNet in 1998. iWorld's competitors include IBM, HP, the Big 5 in
consulting and systems integrators that offer maintenance services. Its investors include Worldview
Technology Partners, Softbank Ventures Korea, Newton Technology Partners, and SeoulZ Fund.
'iWorld meets the need for high quality monitoring and management of infrastructure without organisations
having to hire a large pool of IT professionals,' Mr Lee said. 'Enterprises will have increased uptime through
monitoring of faults and efficient management and allocation of resources.'
He added that disaster recovery and the maintenance of security policy seemed to receive low priority among
organisations. 'We had a big MNC client who had backed up on a mouldy tape. We came in to do disaster
recovery which cost them $12,000-15,000.' His firm typically handles five to 10 security threats a week.
iWorld services are based on its proprietary solutions - Infra@Works which provides infrastructure
performance audit, monitoring and management service, and infrastructure design and optimisation. Another
solution is Infra@Safe which does system security audit, intrusion detection management, managed firewall
service, and security design and enhancement.
Target markets include companies with five to 25 servers, 'a market which may be too small for the big boys',
according to Mr Lee. 'We do not aim to replace internal IT teams. We complement IT teams who define
content and role models while we make sure their infrastructure systems are accessible, secure and available
all the time.'

Too frequently, 'where there is a performance issue, companies are throwing more money into hardware.
With iWorld's management of infrastructure resources and troubleshooting, we are able to pinpoint problem
areas better and help companies achieve greater returns on investment without new capital expenditure'.
'iWorld differs from other MSPs in our deployment of resources which enables us to reach out to mid-sized
companies instead of planting consultants in the office. Other services providers may do infrastructure or
security, not both as we do.' iWorld is targeting the financial services and logistics sectors and educational
institutions.
iWorld currently has 100 people in Asia Pacific, including 60 network and security specialists. In Singapore, it
plans to expand from 17 to 24 employees by September 2001.
iWorld has invested $10 million in NOC facilities and technologies, and monitors and manages more than 350
servers. Its basic infrastructure and security services package costs $1,500 to $2,500 per month for a
company with five to eight servers.
Document stbt000020010716dx6b003w8

NEWS IN BRIEF - IT TAKES.
438 words
11 June 2001
STBT
English
SingNet connects 14 orphanages
INTERNET service provider SingNet will give unlimited broadband access to 14 orphanages in its Lions Club
Singapore CyberCare Kids programme. Underprivileged children can now enjoy high speed surfing, and
volunteer groups can connect the children to one another, to mentors and the community.
3D acquires Nortel arm
3D NETWORK International, a wholly-owned subsidiary of Singapore-based Planet One, has acquired the
retail Enterprise Solutions business of Nortel Networks Australia. Named 3D Networks Australia, the
business will be expanded to include systems integration services for Network Infrastructure and eBusiness
Front Office solutions.
Headhunter.net-JobsDB.com tie-up
US ONLINE recruiting site Headhunter.net has formed a partnership with Hong Kong's JobsDB.com to create
an online recruitment service, to provide potential user companies with direct access to US and Pan-Asian
job seekers.
MyOHQ.com's virtual office solution
SINGAPORE-BASED applications service provider MyOHQ.com, a joint venture between novaSPRINT Pte
Ltd and ITOCHU Corp, has tied up with eGuide Singapore Lte Ltd to provide a virtual office solution to
eGuide merchants. It offers features like website creation, an online employee handbook, newsletter creation
and document sharing.
Mitel to be renamed Zarlink
CANADA-BASED semiconductor company Mitel Corporation has renamed itself Zarlink Semiconductor.
Under its new identity, it will provide voice and data networking solutions. Its Asia-Pacific headquarters will be
in Singapore.
Crystal Decisions' new VP
US-BASED information infrastructure company Crystal Decisions has appointed Lee Boon Huat as
vice-president of its Asia-Pacific operations. He was previously its regional sales director.
CommunicAsia2001
3G, BLUETOOTH, broadband, wireless and other applications will feature prominently at this year's
CommunicAsia, to be held on June 19-22. There will also be a summit from June 18-22, as well as other
concurrent events such as The Asian Wall Street Journal Singapore CEO Technology Summit (June 18-19),
IMT2000 Business Dialogue (June 18-20), and Infocomms Forum (June 21). Visit www.communicasia.com.
'Information Powers Business' seminar
A SEMINAR on how information powers businesses will be held on June 14 at the Marriott Hotel. It is
organised by Crystal Decisions. For details, e-mail southasia@crystaldecisions.com, or visit
www.crystaldecisions.com/seminars
ASP Conference and Expo
The inaugural ASP Conference and Expo will be held from July 16-18, at Singapore International Convention
& Exhibition Centre. A CIO-ASP forum will also be held on July 16. It is organised by IDG World Expo (Asia)
Ltd. For details, e-mail serene@idgexpo.com.sg, or visit www.aspexpo.com.sg.Compiled by Trina Foo.


Will P2P replace B2B?
By Raymond Teh.
693 words
11 June 2001
STBT
English
Peer-to-peer networking could save companies hefty investments in infrastructure
A LOT of hype has recently been generated over peer-to-peer (P2P) networking and the role it will play in
helping businesses gain a competitive edge.
The concept is not new. Napster adopted the P2P content model by creating a giant index of music files and
allowing more than 20 million users to easily swap copies online. However, the P2P model is more than just
swapping digital content over the Internet.
P2P networking enables direct exchange of data or services between computers, desktops and servers that
make up a network. These become 'peers' that contribute part or all of their resources - such as processing
power, storage, digital files, data, etc.
There has been a lot of debate about P2P networking being particularly suitable for digital file transactions
such as paying for the download of movie clips and songs, among others. However, very little has been said
about translating the power of P2P computing to B2B eMarketplaces.
That's especially given the impending boom in e-commerce transactions. According to researcher Gartner
Inc, the market for B2B e-commerce in the Asia-Pacific region excluding Japan is expected to grow from
US$8 billion in 1999 to about US$910 billion by 2004. The Singapore market won't lag behind. From a
modest US$598 million in 1999, B2B e-transactions are expected to hit US$54 billion by 2004.
However, despite these projections, the glow from B2B e-commerce seems to have dimmed a bit. Analysts
warn that there will be some consolidation in B2B eMarketplaces. Late last year, US-based Ventro closed two
of its prominent eMarketplaces - Chemdex and Promedix - resulting in write-offs of some US$400 million and
the loss of some 235 employees.
Analysts predict a similar fate for about 100 B2B exchanges in Asia, citing lack of SCM and CRM tools and
poor business plans as some of the reasons.
That's where P2P technology can help. One way it can help businesses is by aggregating data and giving
users results on time - the existing aggregation processes don't give users the latest data. In most B2B
processes, a server searches for and collects data from many suppliers and loads it into a central database.
The data arrives on tape or gets downloaded from the Net and must be manually cleaned up. By the time
buyers search for the data, many prices and quantities may have become outdated.
The concern: in many B2B online transactions, timing is crucial. Beating that time lag can give enterprises
using a B2B eMarketplace the advantage in today's competitive environment.
However, using P2P processes, computers can be configured to route a company's search only to machines
it has specified, or to filter sources of data according to certain criteria - such as a spare part with certain
dimensions. Peers - which can be site-hosting servers or merely client systems - are given a set of
instructions to gather information from servers continuously. The buyer then receives up-to-the-second
information - as well as relevant sources of data.
Providing real-time aggregated data can also save companies hefty investments in infrastructure. That's
because P2P shifts the burden to its peers in the exchange's network. This means huge savings for
companies that can then save on storage and processing servers - and the staff needed to support the
servers.
However, P2P is not a panacea for all corporate ills - it has yet to resolve fundamental issues, such as
security and privacy. Companies fear that P2P applications lack robust security. In Asia, most businesses
tend to be more guarded about their business practices and may thus forbid employees to use P2P

technologies on their corporate systems for fear of outsiders getting access. Giving access to outsiders may
also leave the company vulnerable to hacking and viruses.
Until these issues are resolved and mindsets changed, P2P will find it difficult to make the leap from being a
Napster-like technology to playing a complementary role in B2B eMarketplaces.
The writer is president (Asia-Pacific), i2 Technologies.

Corporate leader scene needs younger blood.
By Anna Teo.
1,116 words
11 June 2001
STBT
English
Groom next-generation leaders: PwC S'pore chief
OUTSIDE of the political arena, there is too little focus on the next generation of leaders - especially in the
local corporate sector - laments the new head of PricewaterhouseCoopers' consulting practice in Singapore.
'We spend a lot of time talking about 'this-generation' leadership - so-and-so just retired, so-and-so just
retired, etc,' says Chia Tek Yew, who became managing partner of PwC's Management Consulting Services
(MCS) in April.
'We don't spend a lot of time talking about what's in the pipeline, who are our next generation of leaders. We
do a lot of that in the PAP (People's Action Party), in the government sector, ministries, civil service, but in the
private sector, we don't really talk a lot about how many people are in the 35 to 45 age group who are being
groomed for leadership in the market.'
But there is probably a sizable group of under-40 'budding CEOs' out there, particularly in investment
banking, he reckons, himself a member of the club at 38 years of age.
'If you look around at boards of directors in Singapore, the average age is 50-something, and if you talk to
the chairman of the board and ask, why are you having all these same old guys on your boards, the response
is (usually), we don't know who else to look for. There aren't enough profiles of young CEOs out there.'
Then, referring to recent reports about the appointment of Microsoft Singapore CEO Natasha Kwan and IBM
Singapore MD Janet Ang, Mr Chia quips: 'I was joking that, if you're young and female, you get more
publicity, because you're a real minority in this market.'
But back to the corporate leadership scene, he adds: 'I'm not saying get rid of all the old and fill them (the
boards) with 35-year-olds, but each board should have a blend of young and old, because the business does
evolve over time.'
Mr Chia himself is a member of PwC's East Asia Management Consulting Services executive committee, the
youngest in the seven-strong strategy-setting board. Besides heading the Singapore consulting operations,
he remains leader of PwC's financial services practice in East Asia, a role he took up in 1999 while based in
Hong Kong. Mr Chia, who was trained as an accountant, recently returned from a five-year stint in the former
British colony.
He was given a specific goal for the 'home' assignment: replicate the success he had with the regional
financial services practice in Hong Kong - by building up the Singapore financial practice - and now that he is
running the Singapore MCS, to extend the track record to other industry groups as well. 'We didn't have a
strong share (of the financial services consulting market), we had a bandwidth problem, so to speak,' he tells
BT in an interview last month. 'We had partners out there doing work, but we weren't growing rapidly.'
He decided to take a 'very aggressive approach to sell work in this market', and to recruit heavily.
'I said, no, if we're confident enough that we'll win work, let's recruit. You recruit as you grow, not after you've
grown. So we recruited and trained, brought them to market and won more work.'
Previously, PwC had tended to work mainly with the multinational banks, 'more so in Hong Kong than
anywhere else', Mr Chia says. 'When I came back, we took an approach to aggressively target the local
banks as well as the regional HQs of foreign banks here.'
So, from about 20 people early last year, the PwC regional financial practice has grown to about 80. The new
additions included some - Mr Chia has no qualms saying - aggressive poaching, 'more from banks than from
competitors'. He adds: 'I think we're one of the most industry-focused consulting firms, so there aren't that
many consulting firms from which we can poach, that do purely consulting.'

In all, the Singapore PwC MCS has a staff of about 350, of whom 40 are financial services consultants. Mr
Chia reckons there is still room for more staff, 'but I think what we'd like to see first is growth in market share',
he says.
'Currently, I'd estimate that we've got 5 to 10 per cent of the Singapore consulting market; there're a lot of
players out there. If we reach a position of getting 20 per cent, I think that's a nice target to have. In terms of
staff strength, we're now about 350. I think any sizeable organisation needs to target around 400 people. We
will recruit but we will make sure we get the right mix of people.'
Much of the expertise is already in the firm, he notes. 'The hiring of people is to create bandwidth more at a
level to implement,' he says.
'Like it or not, ours is a very labour-intensive industry - we make money from people going in to do work,
charging on an hourly or daily basis.'
But the firm is also out to show that it is not your regular Big Five consultant. 'We don't do the standard style
of consulting. The biggest criticism of consultants is - we tell you our problems, we bounce ideas off you, and
you package it and come back with the same answers...We like to think of ourselves as different - so we're
very actively pursuing what we call point-of-view consulting - we like to go to the client and say: This is my
point of view on this matter, and we spend our time proving that point of view, proving that hypothesis, and if
we can get the client to agree, we'll seek to help implement the recommendation.'
From a market perspective, Mr Chia's goal is to 'capture share of mind first'. This means that 'every time a
major organisation in Singapore has a problem, the PwC name will come to mind', he says. 'They will say
that, I think PwC can help us solve the problem. We want to be a dominant share-of-mind player; with share
of mind, share of wallet will come.'
And on the personal side, the young CEO says, 'part of the mantra is - let's think of the next generation
leadership'. He adds: 'When I've identified a next-generation person, a successor who can do this job as well
as, if not better, then it's time to move on to different roles.'.
Document stbt000020010716dx6b003vz

US-S'pore ties warmest in years.
By Catherine Ong in Washington.
708 words
11 June 2001
STBT
English
Singapore is US' 10th largest trading partner
PRIME Minister Goh Chok Tong's visit to Washington, DC this week comes at a time when Singapore-US
relations have been the warmest in years.
Despite a benign neglect of South-east Asia by the Clinton administration, the two countries have deepened
ties in recent years, particularly in defence, education, trade and investments.
With bilateral trade running at US$40 billion (S$72.4 billion), Singapore is the US' 10th largest trading
partner, ahead of China.
Singapore's unflinching support for free trade and open markets in the face of the Asian financial meltdown
in the late 90s, was widely hailed in the US, and provided the impetus to last year's decision by the two
countries to negotiate a free trade agreement, the first for the US in Asia.
Chan Heng Chee, Singapore ambassador to the US for the last five years, believed the two countries have
left the infamous Michael Fay incident far behind.
'That was the first change in tone in the relationship,' she said. That episode coincided with a post-Cold War
posture by the US of pushing human rights around the world and it became more than what it was.
American teenager Michael Fay was caned in 1994 after being convicted for vandalism. His caning raised an
outcry in the US and reinforced perception of Singapore as a tough, repressive state whose citizens lived in
fear of official reprisals.
Seven years later, there seems to have been a remarkable change in how Singapore is perceived in this
country. According to Ms Chan, there's enormous respect among US policy-makers and business leaders for
Singapore's success in managing a small state. 'Singaporeans don't realise how well-regarded Singapore is
in the US,' she said.
Mr Goh's visit reflects the close ties between the two countries, Ms Chan said, noting that he is the first
South-east Asian leader to be received by the Bush administration.
The ambassador noted that in its transition to the New Economy, Singapore has looked to the US for
inspiration and leadership. 'I sense there's an interest in Singapore to find out what makes America creative,
how they've managed to retain leadership in so many areas.'
She believed the US liberal policy towards immigrant talent has contributed to its creativity, a policy
Singapore has also adopted recently.
Ms Chan conceded that while there is high regard in the US for Singapore's economic achievements,
political integrity and social cohesion, there is still lingering criticism that it is not as free a society - its media
is censored and its citizens do not dare speak their minds freely.
When confronted with such criticisms, she said: 'I would tell them, we can speak more freely than you think.'
Americans believed that theirs is a more open and consultative system. Bob Vastine, president of the
Coalition for Service Industries, said the way the two countries approached their negotiations for the Free
Trade Agreement highlighted a fundamental difference.
In the US, an extensive public consultation was carried out. Anyone can submit comments to the Office of US
Trade Representative (USTR) and these comments are published in the Federal Register for public viewing.
Some 80 comments from groups and associations with interests in business, labour and the environment
were received.

USTR negotiators are also obliged by law to consider the views of statutory advisory committees whose
members are experts in key areas like trade, agriculture, labour and the environment.
Ms Chan said the lack of a formal structure for canvassing views in Singapore's case does not mean that
there were no consultations.
'Singapore is a small country with four million people and my sense is there's constant feedback by people.
There are feedback sessions, government leaders meeting unions, grassroot discussions. It is not just
Tommy Koh negotiating.'
The different approach reflected a different style of government, she added. In the US, interest politics is very
much the norm and lobby groups are encouraged to be part of the political process. This isn't the case in
Singapore which is more closely modelled on the British system, she said.
Document stbt000020010716dx6b003vw

PwC audit, consulting arms to split by July 1.
By Anna Teo.
785 words
11 June 2001
STBT
English
Group's regional consulting business still healthy, says S'pore head
JULY 1 - that's the target date for the global 'operational separation' of PricewaterhouseCoopers' auditing and
consulting practices.
Chia Tek Yew, managing partner of PwC's Singapore Management Consulting Services, told BT in a recent
interview: 'It's a two-step process - July 1 is the date we're looking for in terms of operational separation. And
six months from there or more, we start looking at either an IPO or a transaction, which means somebody
buys us. We're not closing off any options; it could be a sale first, then an IPO, or simultaneously.'
Driven in the US by a Securities and Exchange Commission (SEC) ruling that limits the amount of consulting
work an accounting firm can provide its audit clients, the Big Five firms have since variously explored ways to
separate their audit and consulting arms. Ernst & Young was first off the block when it sold its consulting arm
to Cap Gemini last year. Andersen and its former consulting business, now called Accenture, have parted
ways, while KPMG's consultancy arm was spun off in a public offering this year. Plans to sell PwC Consulting
to Hewlett Packard, however, fell through.
But the firm is now looking at a July 1 separation date to create a 'global consulting entity', though as far as
East Asia is concerned, it will be 'business as usual', with little or no operational impact, as PwC audit and
consulting practices in the region have been operationally separate since 1996, Mr Chia says.
'We're still one (only) in US and most of Europe, not in East Asia,' he says. In Singapore, for instance, Mr
Chia and his consulting team are located in Ngee Ann City's office towers, while the audit team is housed in
the PwC building in Cross Street.
Apart from the SEC directive, the desire to split has also been internally driven, Mr Chia says. '(Globally) we
feel we've now reached a size where for us to capture market leadership, there needs to be operational and
financial separation; we need to be able to raise capital, to invest in this new business.
'A lot of clients are starting to want us to work as a partner with them, which to a large extent involves
co-investing with them, which we couldn't do from an independence issue perspective and which we (also)
couldn't do from a financial perspective, because we are a partnership. We need to be able to raise capital in
the market.'
Another issue is 'the ability to reward our people with another form of currency', he says. 'Currently all our
people are rewarded on a cash basis, we have no stock options to give, no equity. If we do go into an IPO,
we'll have one more currency to play around with.'
Mr Chia also says that his firm has been fairly 'recession-proof', although other industry players have
reported a sharp drop in the volume and value of business lately. Accenture last week said it is laying off 600
employees worldwide, and asking another 800 to take six to 12-month sabbaticals.
'We grew massively during the Asian crisis - Singapore was doing fine, Hong Kong was doing fine, and we
also had a lot of work in Malaysia, Indonesia, Thailand... we were helping the banks to restructure,' he says.
'We were also involved with the International Monetary Fund's restructuring work in the region. To be sure,
there was some pressure on the fee rates in that environment but the work was not missing. This is a volume
game, especially for the big players.'
On the current economic slowdown, Mr Chia says: 'We all feel the pinch but to a large extent, we're more
recession-proof in that our mix of business has always been pretty broad. We've got a steady portfolio of
large local clients as well. We don't see people like DBS, SIA, etc, slowing down their (consulting) spending.

'What we have seen from our side is - the US clients have slowed down their spending, but the large locals
and large regionals have not, and we're starting to see a shift in the (regional) fees, from American rollouts
towards regional and local-based work.
'To a large extent, we're less affected than some of these consulting firms that are focused entirely on global
rollouts and global players. So, across the region, 60 per cent of our income comes from the large locals,
which is a nice healthy percentage.'Corporate leader scene needs younger blood, Pg 8.
Document stbt000020010716dx6b003vv

DBS' derivatives business up 11 times.
By Siow Li Sen.
683 words
11 June 2001
STBT
English
DBS Group Holdings' financial derivatives business last year surged, with the underlying principal amounts
that were traded up more than 11 times to $147 billion over 1999, reflecting the group's efforts to become one
of Asia's top three treasury centres.
Although the financial derivatives business at the other four Singapore banks also increased last year, their
volumes were more moderate. United Overseas Bank, second in terms of volume, reported a 74 per cent
jump to $34.8 billion in its underlying principal amounts.
All data were taken from the banks' 2000 annual reports.
The underlying principal amounts of these derivatives are notional amounts indicating the volume of
transactions outstanding at the balance sheet date. They do not represent amounts at risk.
Banks use financial derivatives to hedge or mitigate their exposure to risks and also trade derivatives as
leveraged bets for their proprietary trading.
What analysts look at - because they affect banks' balance sheets and potential profits or losses - are the
year-end positive and negative fair values that represent the unrealised gains and losses on these
off-balance sheet derivatives that are held for trading.
So, depending on the size of a bank's business in financial derivatives, there is potential for more earnings
volatility as new accounting rules will require banks reporting results for financial year ending 2002 to record
them on the balance sheet.
DBS was the only bank among the five local banking groups to report in great detail financial derivatives held
or issued. It also separated them into trading and non-trading purposes.
Of DBS' derivative financial instruments held for trading in 2000, the underlying principal foreign exchange
derivatives amounted to $87.2 billion (1999: $5 billion) while interest rate derivatives came to $51.4 billion
(1999: $6.6 billion). Equity derivatives totalled $8.8 billion against zero for 1999.
The total 2000 year-end positive fair value was $935.6 million while the year-end negative fair value was
$979.2 million. The position in 1999 for the year-end positive fair value was $96.8 million and the year-end
negative fair value was $115.4 million.
DBS said derivatives entered into as trading transactions are measured at fair value and the resultant profits
and losses are taken up in the profit and loss account.
DBS said the underlying principal amount of derivative instruments held for non-trading purposes in 2000 fell
slightly to $28.8 billion from $32 billion.
Derivatives in non-trading transactions may be used to hedge interest rate, exchange rate or price exposures
that are inherent in the assets and liabilities of the group. The profit and loss on derivatives entered into
specifically designated hedges are captured as income or expense in accordance with the accounting
treatment of the underlying transactions.
DBS' ambitions to become one of Asia's top treasury centres began with the arrival of Frank Wong, senior
managing director in March 1999.
In an interview with BT last October, Mr Wong said big Asian companies and government entities traditionally
go to international banks for their more complex financial needs, mainly because domestic banks have
neither the investor reach nor the capability in sophisticated products like derivatives.
So domestic banks got mainly the loans business, which yield lower margins while foreign banks got the
cream of the by-products. His target is for DBS to get 20-25 per cent of by-products.
DBS has about 30 per cent of the total loans market in Singapore but less than 10 per cent of the
by-products market. But before Mr Wong joined, it had less than one per cent of the and offered only one
product, forex derivatives.
Today, DBS is creating and trading more than US$1 billion per day in derivatives in markets where corporate
and institutional treasurers are increasingly putting their energy into hedging risk.
Last November, the bank said it was investing US$100 million to create its new Asia treasury centre. Its
treasury and markets staff has already more than doubled to 230.
Document stbt000020010716dx6b003vt

Success via the Spice Route.
1,001 words
11 June 2001
STBT
English
Devagi Sanmugam tells TAN HWEE HWEE how she went from UN handouts as a child to opening a shop in
Little India
NEXT time you want to pamper your skin, skip the expensive beauty spas and head straight for the kitchen.
That is the hot tip from celebrity cook, Devagi Sanmugam.
Her many foodie fans are always asking her for the secret behind her great complexion. 'They ask me if it's
from my family, and I say, no, it's easy because I'm a cook!'
Mrs Sanmugam says: 'Let's say I'm cutting a tomato. Instead of throwing away the end, I rub it on my face,
because you get the natural fruit acid there.'
If she needs a mask, all she does is break an egg and rub the shells on her face. And if she wants to steam
her face, she just stands next to a rice cooker.
Wow - talk about getting a make-over while making a quick snack!
But for those of you who would rather exfoliate in the comfort of your own plush bathroom, her Exotic Vanity
Pack may be just what you need. Inside the attractive box you will find an Oriental Face Scrub (made from
rice, lentils and herbs) and an Indian Beauty Mask (made from chickpea flour, rice flour and tumeric). It is a
unique proposition - cosmetics which look, literally, good enough to eat.
Mrs Sanmugam's beauty products can be found in her new shop, the Spice Route Shop. Located across the
bustling Tekka Centre, the Spice Route Shop is a stylish addition to Little India, a perfect stop-over for tourists
and expats looking for a little spice chic.
It also sells all sorts of culinary goodies: sauces, curry blends, spice mixes and sambal paste, all concocted
by Mrs Sanmugam herself.
Mrs Sanmugam's made quite a splash in Singapore as a food guru, but her ultimate dream is to be the first
Indian female to be named Businesswoman of the Year.
'When I was young, my family was very poor, we hardly had much food to eat,' she says. Her family survived
on welfare hand-outs supplied by the United Nations. 'My mother used that basic American stuff - like
spaghetti, and tried to make it into Indian food. We always tried to experiment, we were very into creative
cooking.'
She left school with only O-levels. Her plans to become a cook were quickly pooh-poohed by her parents,
who felt that 'hotels weren't a good place for a girl to work.' She took a job as a school clerk, where she
continued to pursue her passion for cooking by catering for special school events.
After she married a teacher, Mrs Sanmugam quit her job and started holding cooking classes at home. The
response was poor, but then she got her first big break - a monthly column on Indian food in Her World
magazine. Word of her culinary skills soon spread, and she started developing recipes for companies like
McCormack and Sanyo. She then started writing cookbooks - with four published to date - including Banana
Leaf Temptations and the latest South Indian Cookbook. She has also made guest appearances on TV
stations such as CNN, BBC, Arts Central and TV Works.
'About last year, people were going crazy about wine appreciation classes,' she says. 'But I thought - there
are a lot of people who don't drink wine.'
So Mrs Sanmugam decided to start spice appreciation classes. The classes really took off, and her client list
now includes country clubs, the Social Development Unit and the Asian Civilisations Museum (where her
classes are booked up to next July).

'Spice is international, it's not just for Indians. My courses became very popular, so people started asking me
- do you have any products?'
This inspired the budding entrepreneur to come up with the products for her Spice Route line of upmarket
spice mixes and sauces designed specially for the non-Indians.
Mrs Sanmugam's other passion is books. She takes pride in being self-taught and is currently devouring
books on sales and marketing.
Her favourite authors include motivation coach Anthony Robbins. 'I learnt from him the importance of being
focused. Being somebody who's not from a family of business people, my focus tends to be taken away by
family members who keep asking - why do you have to suffer so much? Why so many sleepless nights? You
can actually just conduct your classes and make money - just have an easy life.
'But they don't understand that you work because you're passionate about it. At the end of it, the money might
not be there but you have the satisfaction that you have achieved something.'
Pointing at the teak shelves, she adds, 'Like now I have this shop - my curry powders are there, my sambals
are there.'
This petite Indian lady is a classic self-made entrepreneur, striving to rise from rags-to-riches through hard
work and determination. 'I've had this feeling ever since I was young that I really want to achieve something
one day. There are very few Indian women in business and it's usually because of lack of family support.'
She did well in her O-levels but 'because of poverty my father stopped me from continuing my studies.'
This left a void in her life - 'I always felt that there was something lacking, that I never completed my studies.
'I always thought studying was very important to earn a good salary, but later on in life, I had the success of
my cooking classes, which all came from without attending any classes, from inside of me, I realised that hard
work will bring me the kind of achievement that I want without studying.'
Spice Route Shop is located at #01-10 Little India Arcade, 48 Serangoon Road (opposite Tekka Centre). It is
open from 9 am to 8 pm daily. Tel: 296 6171.
Document stbt000020010716dx6b003vp

April wholesale prices up 2.1%.
By Teh Hooi Ling.
266 words
11 June 2001
STBT
English
SINGAPORE wholesale prices resumed their climb in April after a dip in March. Figures from the Department
of Statistics showed that the domestic supply price index rose by 2.1 per cent year-on-year in April. This
compares with a 0.6 per cent drop in March.
Excluding oil, the index increased at a slower rate of 1.6 per cent compared with a year ago.
The domestic supply price index measures changes in prices of all goods, whether imported or produced
locally, which are retained for use in the domestic economy.
Another measure of wholesale prices, the Singapore manufactured products price index, rose 0.2 per cent in
the same period. The index, which measures changes in prices of goods made in Singapore, fell 2 per cent
in March. Taking away oil products, the index actually slid by 0.2 per cent in April.
On a month-to-month basis, the domestic supply price index rose 1.4 per cent in April. Excluding oil, it was up
by 0.5 per cent.
The Singapore manufactured products price index gained 0.4 per cent, with the non-oil manufactured
products index remaining unchanged.
The DOS attributed the increase in the indices to price hikes in petroleum crude, fuel oil and high-speed
diesel fuel. Uncertainty over Opec's intention to cut crude production resulted in crude oil prices rising despite
weak regional demand, it added.
The appreciation of the US dollar vis-a-vis the Singapore dollar also contributed to price increases of these
items.
Document stbt000020010716dx6b003vn

SM - Hard work at SIP is done.
From Loh Hui Yin In Beijing.
726 words
11 June 2001
STBT
English
Couple of existing investors have booked new space since passing of baton to the Chinese
SENIOR Minister Lee Kuan Yew was in a good mood when he visited Suzhou a couple of days ago. He has
reason to be.
The Suzhou Industrial Park (SIP), which he is closely associated with, is shaping up well. Shareholder
problems have been resolved, a new team is in charge and the park's future looks promising. The weather
was balmy for the outdoor celebrations to mark the park's seven years of achievements.
As Mr Lee told his hosts, 'the hard work is over'.
Significantly, the Chinese President, Jiang Zemin, travelled all the way from Beijing to Suzhou to meet Mr
Lee, a singular honour bestowed on the Singapore leader. Sources told BT that when Singapore first
broached the idea of Mr Jiang coming south to Suzhou to meet Mr Lee, the Chinese officials handling the
arrangements had dismissed it as preposterous.
All this is in stark contrast to the grim, cold atmosphere of December 1997, as winter began to set in, when
Mr Lee travelled first to Suzhou and then Beijing during his China trip that year.
Unhappy and frustrated with the Suzhou officials whose actions hindered the progress of the park, the Senior
Minister hit out at them publicly while he was in Suzhou and followed it up when he met Mr Jiang in Beijing a
couple of days later.
Although there had been speculation then in Singapore that things were not going well for the project, it was
the first time that a Singapore leader had spoken about it in public. The Singapore media covering that
watershed visit, this writer included, was taken aback by the brutal frankness of disclosure.
In the second volume of his memoirs, Mr Lee said: 'We were wasting too much time, energy and resources
fighting with the local authorities.
'I raised the problem with President Jiang in December 1997. He assured me that SIP remained his priority,
and that the problem at the local level would be resolved.
'But, notwithstanding this assurance from the very top in Beijing, Suzhou did not stop promoting SND
(Suzhou New District, the rival park) in competition against SIP.' After almost two years of negotiations, the
Chinese partners now have majority control of the SIP. The local leaders, now toeing the line from Beijing,
have swung their support and resources behind it.
President Jiang, who expressed his appreciation for the work done by Singapore and Mr Lee in getting the
park off the ground when they met last week in Suzhou, wants close bilateral cooperation to continue in order
for the SIP to become internationally competitive.
Indeed, the thrust of the Chinese leaders' comments on the SIP centred on how it will contribute to China's
economic development and bilateral relations in the new millennium.
All very positive, upbeat talk.
But in the midst of it, the Senior Minister injected a note of caution: The real test will be whether foreign
investors are confident about investing in the park or if existing ones expand their factories and book new
land at the SIP.
And this will, in turn, depend on whether the new management team can build on the foundation they
inherited from the Singaporeans who managed the park for seven years.

The signs are promising so far. A couple of existing investors have booked new space while at least one has
signed up for the third phase of the park.
Mr Lee also said he was 'encouraged' by the confidence of the new Chinese team in turning the SIP's
financial performance around this year and getting it listed by 2004. Its financial performance will determine
whether Singapore and foreign investors will continue with their equity interests in the park, he added.
In Shanghai, his next stop, the Senior Minister quizzed Singaporean businessmen about the Chinese city,
which is engaged in an intense game of catch-up to regain its former glory as China's financial centre.
Mr Lee, who last visited Shanghai more than a year ago, pointed out to its mayor Xu Kuangdi that its
progress is phenomenal.
The Singapore delegation is now in Beijing, where SM Lee will meet with Li Peng, chairman of the National
People's Congress today.
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S$200m bond issue to help SALE double fleet.
By Conrad Raj.
655 words
11 June 2001
STBT
English
It makes public results for first time; profit was up 22.6% to US$41.4m
SINGAPORE Aircraft Leasing Enterprise, one of the world's top 10 aircraft leasing companies, is issuing
S$200 million worth of bonds as part of its plans to double its aircraft fleet over the next five years.
The five and 10-year bonds will be lead managed by Keppel TatLee Bank and UOB Asia which also
managed SALE's first bond issue of S$65 million completed in April last year.
'The Singapore-dollar bond market offers an attractive alternative and cost-effective method of raising
financing to fund SALE's expansion,' managing director Robert Martin said in an interview with BT.
The coupon rates and the bond prices would be fixed this week, he said.
And for the first time the company has made public its financial results, reporting a 22.6 per cent increase in
net earnings to US$41.4 million for the year ended March 31 2001. It was its seventh successive year of
profits since its establishment in November 1993 and was achieved on a 22.5 per cent increase in revenue to
US$137.6 million.
SALE's return on equity improved from 13.05 per cent to an enviable 13.74 per cent while debt-to-equity ratio
declined to 3.2:1 from 3.76:1. Mr Martin however, expects debt to go up slightly to 4:1.
'Our successful track record of profitable expansion since our formation and the expanding aircraft market are
the main reasons why investors would be interested in subscribing to our bonds,' Mr Martin noted.
While not ruling out a public listing altogether, Mr Martin pointed out that the company does not need such
funds for the moment as it still has over US$150 million in undrawn funds from its shareholders.
He disclosed that while the money from the current bond issue would be used specifically for the purchase of
a new Boeing 777-200ER (extended range) aircraft, the company plans to double its present 33 aircraft fleet
over the next four to five years - half wide bodied like the B777s and the other half standard aircraft with a
minimum of 100 seats.
Average lease periods range from five to 10 years for the narrow bodied aircraft to 10 to 12 years for the
wide-bodied planes and its 19 lease customers in 13 countries include Emirates, Korean Airlines, Malaysian
Airlines, Qatar Airways, America West and Monarch Airlines. 'We currently don't lease to any
Singapore-based airlines,' Mr Martin stressed.
During fiscal 2001, SALE acquired five A320s, one A321, one B777-200ER and one A330-300. It sold two
A320s and two B777-2000ERs with leases attached to financial investors and one B767-300ER to an airline.
This left its asset position virtually unchanged since March 200 at US$1.4 billion.
Mr Martin pointed out that as SALE is able to obtain better terms from the aircraft manufacturers than
individual investors it is therefore able to sell the aircraft to these buyers at more attractive prices.
To build up its in-house capabilities, the company set up structured finance and marketing positions in the last
financial year.
Previously, most of these functions were undertaken by its parent Seattle-based Boullion Aviation Services
which has a 35.5 per cent stake.
The company has also opened an office in London and plans to open one in the US by year's end to extend
its marketing reach around the globe.
Its staff strength has grown from 26 to 33 in the fiscal year and despite the current global economic
slowdown Mr Martin is confident of further growth.
Singapore Airlines owns 35.5 per cent of sale, with the Government of Singapore Investment Corporation
and Temasek Holdings each owning 14.5 per cent.
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US and S'pore aiming for 'model' FTA.
By Catherine Ongin Washington.
1,042 words
11 June 2001
STBT
English
But even if lofty aims achieved, Washington politics likely to delay implementation
US and Singapore officials are doggedly thrashing out an ambitious deal which they hope would set a
benchmark for the rest of the world on the removal of trade barriers, particularly in the services sector.
After three rounds of formal negotiations, the officials are brimming with excitement over the deal's potential,
using adjectives like 'world-class' and 'next generation' to describe what would likely be the first free trade
agreement (FTA) the US will sign with an Asian country.
'We're committed to a next-generation FTA, (which goes) beyond the North American Free Trade Agreement,
beyond the General Agreement on Trade in Services...that will serve as a model for others,' a US trade
official told BT last Friday.
But even as they are certain about the FTA's lofty aims, the negotiators are less sure about the timing for
implementing the agreement when it is reached.
Indeed there is concern within the Bush administration and among businessmen here that the
US-Singapore FTA, together with other trade pacts America is pursuing, could be held hostage once again
to Washington politics.
Not since 1998, when the House of Representatives voted against the renewal of president Clinton's
fast-track trade negotiating authority amid sharp divisions over how to include labour and environment issues
in trade agreements, has the US been able to put trade pacts into effect. As a result, it failed to provide the
leadership needed to launch a new round of multilateral talks in Seattle in 1999, giving further ammunition to
the cause of anti-globalisation forces and opponents of free trade.
Walter Lohman who heads the Singapore committee at the US-Asean Business Council, the premier
association for US companies doing business in the Asean region, said the biggest stumbling block to a
US-Singapore FTA has nothing to do with Singapore, America's most important ally in South-east Asia. It
has to do with the US, which has yet to forge a consensus for a trade policy that both the executive and
legislative branches can sign on.
Last week's shift of control of the Senate, from the pro-business Republican Party to the pro-labour
Democrats after the sensational defection of Vermont Republican Jim Jeffords from the party, threw a
spanner in the works. As a result, Tom Daschle, the Democrat who took over from Republican Trent Lott as
the Senate Majority Leader, now gets to decide what bills do or do not come to the floor of the Senate for
vote.
On Friday, Mr Daschle expressed scepticism over whether there was time this year to move a bill to renew
the president's fast-track trade authority, which has been renamed Trade Promotion Authority (TPA) by
present United States Trade Representative Robert Zoellick, to make it more politically palatable.
President George Bush had said that getting fast-track, which would let the administration negotiate trade
agreements that Congress can approve or reject but not amend, is one of his key legislative priorities. Mr
Lott, when still the Senate majority leader, had promised to bring it up in the fall.
But on Friday, Mr Daschle said the Senate is running out of time to consider key policies because it is already
behind the curve in deliberating budget appropriations for the coming financial year. He did not list fast-track
among the handful of Democrat priorities, which included a new prescription drug benefit, a bill raising the
minimum wage, bankruptcy reform, energy relief policy and election reform. The US trade official confirmed
that it is unlikely that any FTA reached with Singapore would be put into effect before Congress grants Mr
Bush fast-track.

The two particularly sensitive issues of labour and the environment could add to the delay. Singapore's
ambassador to the United States, Chan Heng Chee, admitted that the process of working through these
issues 'is going to take some time.'But she added that 'one should not be too fixated on a time line' for the
completion of the US-Singapore FTA.
'I would not be too caught up in whether it ends at the end of this year or whether it will be three months more
in the spring or in the summer, it must take its course,' Ms Chan said.
After the Seattle global talks failed, the US resorted to bilateral and regional agreements as a way to force
countries to open up their markets. It has concluded an agreement with Jordan which is due to come before
Congress, and is also engaged in negotiations with Chile.
In April, at the summit of the Americas in Quebec City, the US and a group of Latin American countries
agreed to start talks for a free trade agreement of the Americas.
The Jordan pact, sealed during the Clinton administration, is the only one so far to include labour and
environment provisions. That agreement took six months to negotiate but bilateral trade in this case
amounted to about US$300 million, compared to US$40 billion between Singapore and the US.
The decision to go ahead with a US-Singapore FTA was announced by Mr Clinton and Singapore Prime
Minister Goh Chok Tong when they met in Brunei last November for an Apec summit.
The Clinton administration had stated that they want the Singapore agreement to be modelled on Jordan's,
that is, to include labour and environment protection, but this position is opposed by most business
associations in the US.
Brent Franzel, a senior adviser to the US-Asean Business Council, pointed out that the Jeffords revolt also
resulted in Democrat Max Baucus taking over the gavel at the Senate Finance Committee. Mr Baucus, while
a vocal supporter of an FTA with Singapore, had previously indicated that he wants to see substantive labour
and environment provisions in trade agreements.
Mr Goh, who arrived in Washington, DC on Saturday for a four-day visit starting today, is expected to raise
the FTA issue when he meets Mr Bush and other officials and legislators including Mr Zoellick and Mr Lott.
He is, however, not scheduled to meet Mr Daschle.
Document stbt000020010716dx6b003vj

Keeper of the peace in world's economy.
884 words
10 June 2001
Straits Times
STIMES
English
Alan Greenspan can move financial markets just by uttering some choice words.Two recent books on the
powerful chairman of the Fed show that he is very gifted but also very human
BIOGRAPHY
MAESTRO: GREENSPAN'S FED AND THE AMERICAN BOOMBy Bob WoodwardSimon &
Schuster270 pagesGREENSPAN: THE MAN BEHIND MONEYBy Justin MartinPerseus Press336 pagesBy
MICHAEL COLLINS
MR ALAN GREENSPAN, chairman of the US Federal Reserve Board of Governors (better known as 'the
Fed'), is arguably the world's most powerful man, able to move financial markets with a single phrase.
When for a time early this year he seemed to have lost his ability to levitate those markets, Fortune magazine
(only somewhat tongue in cheek) devoted space to the debate about whether or not he is a god. Two recent
books show him to be very human, but very gifted.
Maestro: Greenspan's Fed And The American Boom, by legendary American journalist Bob Woodward, is a
small masterpiece.
At times, it takes us seemingly into the data-crunching mind of the Fed chairman himself, as he ponders a
myriad variations on the question at the heart of his job: Is the supply of credit in the United States too great,
too small or just right?
Greenspan: The Man Behind The Money, by Justin Martin, is a more conventional, though highly engaging,
biography.
It begins with Mr Greenspan's childhood, takes us through retrospectively mind-boggling images of the Fed
chairman's long-ago life as a touring jazz musician, shows us his pre-Fed rise as the leader of an economic
forecasting firm, and explains his philosophical evolution under the tutelage of economist Arthur Burns and
ultra-capitalist writer Ayn Rand.
Woodward focuses more on the Greenspan we know - the powerful chairman playing his
excruciatingly-complex and perpetual chess game with financial markets, politicians and economic
monsters.
Mr Greenspan had little time, after his August 1987 appointment as Fed chairman, before he was confronted
by his first monster.
On Monday, Oct 19, the Dow Jones Industrial Average climaxed a string of losses with its largest-ever
single-day percentage decline - 22.6 per cent. Pandemonium followed.
The financial system started to become dysfunctional as banks stopped extending credit to securities firms
suddenly unable to meet their commitments.
At this point, Mr Greenspan began to emerge as the Atlas of a system based ultimately on nothing but
confidence.
He and the other Fed board members quickly issued a statement affirming the Fed's readiness 'to support the
economic and financial system', and backed it up with bond purchases that pumped money into the parched
credit network. The fainted markets revived.
Mr Greenspan's next crisis involved what Martin aptly describes as the 'morning-after hangover', in the late
1980s, of a debt-financed boom: 'Businesses, banks and individuals all began to stagger under the weight of
massive debts taken on during earlier, more optimistic times.'

The government, too, was staggering under a massive budget deficit that made the future look like a risky
place.
The result was a three-headed Cerberus growling ominously of doom in the form of a savings-and-loans
meltdown, a commercial banking crisis, and clashes between Mr Greenspan and the Bush administration,
which fretted that the credit-tightening, anti-inflationary moves Mr Greenspan made might imperil the
president's re-election.
Indeed, the father of the current president blamed Mr Greenspan when, at the end of a recession late in his
term, he was turned out of office by a Clinton campaign trumpeting, 'It's the economy, stupid'.
The early Clinton-Greenspan relationship was unexpectedly warm, and Mr Bill Clinton accepted a
deficit-slashing plan for economic recovery that Mr Greenspan outlined for him.
The relationship cooled somewhat when Mr Greenspan, spying early signs of inflation, raised interest rates
in a 'pre-emptive strike' against it. The President was furious, but Martin stresses that the strike 'actually
worked'.
In its wake, and in the wake of the Clinton administration's elimination of the deficit, a not-too-hot, not-too-cold
'Goldilocks economy' emerged.
For the remainder of the 1990s, the United States enjoyed a combination of robust growth, low inflation and
high employment that seemed to defy the laws of economics.
A 'new economy' powered, as Mr Greenspan was among the first to notice, by productivity-raising
technological improvements, seemed to have emerged.
Ironically, in addition to high-tech efficiencies, one of the factors that helped maintain the low inflation boom
was the international financial crisis of 1997-98.
As the dollar strengthened, Asian demand fell and Asian export efforts intensified, many US companies kept
their own prices low in order to remain competitive.
Nevertheless, Mr Greenspan worried that the international financial typhoon would strike the US eventually.
It is at this point that Mr Greenspan, plotting recovery strategy with the Clinton administration and lowering
interest rates, emerged as de facto central banker of the world.
Today, despite the US slowdown and the bursting of the dot.com bubble, Woodward's conclusion still seems
apt: 'In The Wizard Of Oz, when the man behind the curtain emerges, we are let down. With Greenspan, we
find comfort.'
The writer lectures at the American Studies Centre at the National University of Singapore.
Document stimes0020010715dx6a009yy

Going higher, doing better with an arts background.
By Chua Mui Hoong.
1,025 words
10 June 2001
Straits Times
STIMES
English
MY VIEW
FIVE people are in a shopping centre during the Great Singapore Sale.
The engineer asks: 'I wonder how much power is needed to cool the building.'
The accountant says: 'Let's calculate the net yield per square foot.'
The Housing Board heartlander goes: 'Wah lau. 70 per cent discount for Bah Lee shoe.'
The political theorist expounds: 'A clear case of the triumph of capitalism.'
The artist is silent. After all, her medium is paint, not words. She sees in the frenetic, aimless crowds an
apocalyptic vision of the loss of the individual amid mass conformity, and returns to painting.
Question: Who is the one with the most accurate, most complete picture of the shopping centre?
In Singapore, the answer would probably be that all are wrong. And that only properly detailed
draughtsman's drawings of front, back, side and top elevation views are accurate.
But surely the answer is that no one perspective is complete, but all are correct. For each view aids the
understanding of the other.
The pity is that in Singapore, the perspective of the artist - or historian or writer - is peripheral. The arts suffer
the indignity of being relegated to a gilded footnote in the history of a nation, an after-thought only the
leisured, monied class has time or inclination for.
This is a pity, because the value of a good grounding in the arts is never so essential as now.
Others have said so, in different ways.
Straits Times reader Jonathan Koh, for example, asked why Singapore did not try to woo a top university for
the humanities here, to complement the slate of nine universities strong in business, technology and
medicine.
The thousands who have flocked to Arts Festival performances to satisfy their aesthetic cravings will
understand Mr Koh.
As would students at the pre-university seminar who last week argued for a role in the arts.
They were assured by Economic Development Board chairman Teo Ming Kian, using the oft-used argument
in Singapore, that humanities graduates can do well in the new economy, since some of their illustrious
alumni, like Hewlett-Packard's CEO Carly Fiorina, (medieval history, Stanford) had succeeded in fields
beyond their traditional disciplines.
But those who argue the case for the humanities thus are actually implying that arts graduates do well in spite
of, not because of, their academic training.
On the contrary, I am of the view that a good education in the arts provides the best intellectual preparation
for the knowledge economy.
After all, the new economy is defined by a surfeit of information. So the skill most in need for everyone - from
ordinary Tan Ah Kow to the CEO to the philosopher - is the ability to evaluate and process information.

An education in the humanities trains students to analyse symbols and language, evaluate and synthesise
knowledge, and to make links across millennia and media.
Also, those familiar with the mode of thinking in the humanities are best able to thrive in this inchoate and
chaotic world where even management gurus (who agree on few things) concur, the only constant is change.
Those trained in the humanities are used to operating in a state of what English poet John Keats called
'negative capability' - 'when man is capable of being in uncertainties, mysteries, doubts, without any irritable
reaching after fact and reason'.
In a word, a good humanities education trains you to think - to evaluate masses of contradictory information
and think through them critically.
To ask the why, not only the what and how. Never to assume, always to question the assumption.
But I know such rhetoric cuts little ice in hard-headed Singapore.
To make my case for the humanities, I need to speak the language Singapore understands: Costs and
benefits.
I could cite reports that college-bound students who have done arts-related courses end up with SAT scores
of 59 points higher in the verbal test and 44 points higher on the mathematics portion than those without,
according to a 1995 study by the College Board.
Or mention the longitudinal study by UCLA's Dr James Catterall, of 25,000 students, which found that those
exposed to the arts did better in school, had better attendance records and were more involved in community
affairs. (More studies at www.artsedge.kennedy-center.org)
Or I could do the traditional Asian thing and invoke older authority, and recall that for centuries, the world's
most sophisticated civilisation at that time, China, used knowledge of literary classics and philosophy to pick
candidates for top administrative posts.
I could pick apposite quotes and conjure up historian Eugene Ferguson, who said: 'Pyramids, cathedrals and
rockets exist not because of geometry, theories of structures or thermodynamics, but because they were first
a vision - in the minds of those who built them.'
I could throw management books at you: mention futurist Rolf Jensen and his insight in The Dream Society,
that the consumer economy today is driven by dreams, and that consumers buy the stories behind products.
That seems so right to me intuitively, that I reckoned the best way to make my case is to use not cold
statistics, but a story.
Back to those five people at the shopping centre.
As I said, each brings a unique perspective.
But which vision may endure?
Surely the painter's, if what she paints captures the imagination.
As one such painter, Hong Sekchern, did, mine. Her vision of a shopping centre in Chinese ink has haunted
me since I saw it two weeks ago in the Singapore Art Museum, where it still hangs.
Art, whether a painting or a story, has a power to move that no cold argument can.
If you do not feel the truth of that statement in your bones, perhaps you never had a chance to get a good
arts education. Then your duty is to make sure your children have.
(E-mail: muihoong@sph.com.sg) This is Chua Mui Hoong's last column. She will be on one year's study
leave in Harvard.
Document stimes0020010715dx6a009yx

Put it in writing.
1,745 words
10 June 2001
Straits Times
STIMES
English
Musician, painter, journalist, politician, ambassador, business consultant... Mr Lee Khoon Choy has been all
these and more. But it is the role of writer that keeps his adrenalin running and compels him to put his
experiences on paper - for posterity. Our correspondent LEONG WENG KAM catches up with the former
Senior Minister of State in the Prime Minister's Office
IF MR Lee Khoon Choy, 77, is not striking million-dollar deals as a business consultant, he is furiously
writing on his laptop or PC at home late into the night.
The former journalist, politician and diplomat who writes in English and Chinese is now working on his eighth
book - his fifth since retiring from politics in 1984.
His latest tome in English, to be called Understanding the Inscrutable Chinese, is on the history of the
Chinese, focusing on past and present Chinese leaders - from first Chinese emperor Qin Shihuang to
Singapore's Senior Minister Lee Kuan Yew.
Just last month he spent a few days in Japan researching on the lives of two historical Chinese figures,
Zheng Chenggong and Zhu Shunshui.
Zheng, a man of mixed Chinese-Japanese parentage, and a supporter of the defeated Ming emperors in
17th-century China, was better known as the founder of Taiwan where he fought unsuccessfully against the
new Qing rulers.
Zhu, a true-blue Confucianist, helped Zheng to fight the Manchus. But after their defeat, Zhu moved to Japan
where he later became an adviser to the famous shogun, Tokugawa Mitsukuni.
Mr Lee, former Senior Minister of State in the Prime Minister's Office and MP for Braddell Heights, is one of
the most prolific writers among the Old Guard politicians. His first book written in Chinese, Zheng Zhi Yi
Sheng Huo or Politics And Life, was published in 1966 while his most recent was A Fragile Nation - The
Indonesian Crisis released two years ago.
Mr Lee is still chairman of Eng Lee Investment Consultants, which he set up a decade ago, and director of
several companies.
'I am even busier than when I was a politician or diplomat,' remarks Mr Lee, who returned last week from
Penang where he sold a piece of land in Pulau Langkawi.
He flies off again today to Vietnam to help a Singapore construction firm seal a deal for the construction of a
road there. Later this month he will be in Shanghai to advise a client on yet another property deal there.
Speaking to Sunday Review in his 21st-storey office at Shenton House, he says he usually begins writing
after returning to his Third Avenue home from work every day.
'I take my break later in the night when I will catch a video on the history of China to gain further inspiration,'
he adds.
But why write at this age when he can take things easy?
'I think it is in my blood that I like to inform people about what I have learnt, seen and observed,' he replies.
But more importantly, he hopes that his writings will be useful for future generations.
'Some years ago, I was reading this book on the Adventures Of Admiral Cheng Ho by Ma Huan, a Chinese
Muslim, and thought that if it had not been for Ma, we would never know so much about the admiral's visit to
this part of the world.'

IF INK flows in his veins, it explains why he chose to be a journalist in the early 1940s, soon after leaving
school in Penang where he was born.
The year 1949 was a turning point in his life when, as a 25-year-old journalist working in Singapore, he was
awarded a scholarship by the Colonial Welfare Fund to study journalism at the Regent Street Polytechnic in
London.
There he became involved with the Malayan Forum, a gathering of students interested in gaining
independence for Singapore and Malaya, led by the late Tun Abdul Razak who later became Malaysian
Prime Minister.
Among the students there were Mr Lee Kuan Yew, Dr Toh Chin Chye and Dr Goh Keng Swee who founded
the People's Action Party in 1954.
'I was very impressed by their views which helped to create a new political consciousness and identity in me,'
he says.
After his return to Singapore, he kept in touch with the Singapore students who persuaded him to join the
PAP. He stood as a candidate in the 1959 General Election which the party won by a landslide.
As a journalist, he covered several important historical events in the region in the 1950s. One was the 1955
Afro-Asian Conference in Bandung, Indonesia, where 29 African and Asian countries met to discuss their
future and their relationship with the Western powers.
He recalls getting a scoop for his paper, the Nanyang Siang Pau, when he interviewed Chinese premier Zhou
Enlai.
'Zhou was a very cool and sharp politician who showed a lot of interest in the politics of Singapore and
Malaya,' he says.
Another event was the Baling Talks in the same year when the then newly-elected Malayan Chief Minister
Tunku Abdul Rahman met the Malayan Communist Party chief Chin Peng in an attempt to persuade him to
give up his party's armed struggle.
Then there were the Merdeka talks in London in 1956, during which he came to know the Tunku better while
taking long walks with him between meetings in the evening.
In a lighter vein, he remembers covering Singapore Chief Minister David Marshall's first meet-the-people
session in Parliament House in the 1950s.
'When striptease dancer Rose Chan turned up, the Chief Minister sprang a surprise when he gave her the
wolf whistle and wanted to know if he could help her.
' 'Certainly,' Rose said. Then Mr Marshall asked: 'Is it something public or private?' 'Private,' she answered.
'Then see me in private later',' he said.
Mr Lee's report in the Nanyang Siang Pau the next day created a big stir.
'I expected to be reprimanded but instead I received an offer to be the chief minister's press officer for a
salary of $1,200 a month, which nearly doubled my journalist's pay of only $700.'
But he declined the offer.
INCIDENTS AT TWO NEWSPAPERS
MR LEE says he enjoyed working as a journalist so much that he was very reluctant to go into politics,
believing that he would be more useful supporting the PAP in the press.
But two incidents, one at Nanyang Siang Pau and the other at The Straits Times where he also worked in the
1950s, changed his mind.
The Nanyang incident involved his call to the newspaper management to reinstate a colleague, Mr Sia Yong,
who was arrested for alleged pro-communist activities and released later.
'The boss, Mr George Lee, who was already unhappy with my close links to the PAP, sacked me too when I
went to see him as I was a journalists' union leader then,' he says.
The second, at The Straits Times, involved the acting chief reporter then, a Pat Morgan, whom he said
humiliated him by sending him to cover a lallang fire - a job usually assigned to rookies.

As a senior journalist, he refused to comply with her orders and although he was supported by the then
editor-in-chief Leslie Hoffman, Mrs Morgan made life difficult for him at work.
'I realised that I had no future in the newspaper dominated by the whites and realised that if I really wanted to
change things, I must go into politics.'
He was elected as legislative assemblyman for Bukit Panjang at the 1959 elections.
Life in politics in the early days of the PAP government was tumultuous, especially its battle with the
pro-communist faction in the party which later formed the opposition party, Barisan Socialis.
He received a death threat in a letter with a bullet asking him to resign from Parliament if he did not want the
bullet in his head.
Another incident was the Chinese secondary school students' sit-ins and demonstrations in 1961 when they
protested against changes to the school curriculum.
'I was the Parliamentary Secretary at the Education Ministry and one day I found students blocking my way at
the ministry as I was leaving for Parliament.'
The students threw rotten apples at him and shouted, 'Lee Khoon Choy, jing guan cai, meaning get into the
coffin, as his name, Khoon Choy, sounds like coffin in Cantonese.
To rescue him from the pickets, the acting Speaker of the House then, Mr S. Rajaratnam, had to table a
motion stating that whoever obstructed him on his way to Parliament would be dealt with by the law.
SOUTH-EAST ASIAN CULTURAL FESTIVAL
WHAT were his most enjoyable political years? Mr Lee refers to when he was Minister of State in the former
Culture Ministry in the 1960s.
'Maybe that was because I am an artist myself, who plays the Chinese guzheng, the violin as well as the
piano, and I also paint and had staged several exhibitions, both here and overseas.'
He initiated the first South-east Asian Cultural Festival in 1963, and mooted the idea for an arts academy to
promote greater appreciation for the arts among Singaporeans.
He raised over $1.5 million to start the academy, which was to be at the former Tao Nan School on Armenian
Street.
But the project was aborted in 1968, when he was asked to be ambassador to Egypt by the then Prime
Minister, Mr Lee Kuan Yew.
'Giving up the academy project remains my biggest regret,' he says.
He stepped down from politics in 1984 and was ambassador to Japan until 1988. On his return, he looked for
something to do on his retirement.
'After only a day without anything to do, I realised I was degenerating and looked up my friends immediately,'
he says.
He became chairman of a travel agency, Sino-American (UIC) Tours, in 1988. He set up his business
consultancy in 1990. But he says writing remains his passion.
Even before he finishes his current book, he is already plotting the next one - an in-depth look at his life, a
fuller version of his 1988 autobiography, On The Beat To The Hustings.
So what keeps him on the go? 'Well, look out for my book on the secrets of good health and a long life which I
plan to write soon, ' he says.
Document stimes0020010715dx6a009yw

His Mission - To Ad Value.
1,695 words
10 June 2001
Straits Times
STIMES
English
He bounced back from near corporate suicide to lead global marketing communications giant WPP to No. 1
position last year. CHEONG SUK-WAI meets Sir Martin Sorrell
TO MEET Sir Martin Sorrell is to meet passion in person. Indeed, the 56-year-old British marketing mogul -
who once called himself a 'dull, boring little clerk' - seemed anything but that in a recent chat with The Sunday
Review on a sultry Sunday morning.
The man who owns three of the world's biggest advertising agencies - Young & Rubicam, Ogilvy & Mather
and J. Walter Thompson - first asked whether he might take off his coat.
After settling back, Sorrell then unleashed a spirited torrent of facts and figures on all things business.
So, for 45 minutes, the pregnant humidity engulfing Raffles Hotel was punctured by his rapid-fire rattle on
how the new economy is changing businesses, markets and work attitudes.
As group chief executive officer of the global marketing communications giant WPP - which has 65,000
people working in 92 countries - he has a bird's-eye view of global trends.
Under WPP's vast umbrella are J. Walter Thompson, Ogilvy & Mather and Young & Rubicam, along with
other familiar names like Batey, Burson-Marsteller and Hill & Knowlton.
He admitted: 'It's very difficult to harness creative energies and get everyone to look in the same direction at
the same time.
'I've to come up with all sorts of ways to make sure they're not just gazing blankly at me, as if I've just come
down from Mars.'
He is hardly overstating the case. Despite having three of advertising's most successful names, he has never
written an ad or sold a campaign in his life.
In fact, the alumnus of Cambridge and Harvard said he is a 'a money man' who 'likes counting beans very
much indeed' (see story below).
In an unforgiving ad world peopled by eccentric, creative sorts, that would seem an invitation to mutiny.
But he must be getting his message through, as WPP recorded a 15 per cent jump in revenue last year - it
registered revenues of US$6.75 billion (S$12.2 billion) as at April this year.
In fact, the group's operating profit for 2000 rocketed by 43 per cent to US$631 million as at this February.
One among a rare few who think as fast as they talk, he doodled these figures furiously in the water pooling
beneath the glasses of iced water on a rosewood table.
It also secured US$71 billion in billings last year for its brick-and-mortar concerns. He quipped, with a wink:
'It's dangerous to continue at that rate.'
One way he does it, so corporate folklore goes, is to charm the socks off his wage slaves.
In an interview with Fortune magazine in July last year, O&M chairman and chief executive officer Shelly
Lazarus recalled his early meetings with employees thus: 'He gave the impression that if there were 1,000
questions, he'd stay to answer 1,000 questions.'
With them behind him, Sorrell projects further revenue growth of 7 per cent for WPP this year. This, in a
global industry whose overall growth was only 6 to 8 per cent - at best - last year.

Indeed, The Economist pointed out in February that the 7 per cent projected growth is nothing to sniff at
because total expenditure on ads in America is expected to be halved to 5 per cent this year.
Uncle Sam generates 46 per cent of WPP's total revenue, with another 40 per cent coming from Europe and
the remainder from Asia and Latin America.
NO LONGER NUMBER ONE
BUT the year thus far has not exactly been coming up roses for WPP.
On March 19, it was dethroned as the world's largest marketing communications conglomerate by rival
Interpublic.
Interpublic, which owns McCann-Erickson and Lowe Lintas, bought Chicago-based marketing services
conglomerate True North Communications.
Last year, the combined conglomerate had revenues of 4.8 billion (S$12 billion), or 200 million more than
WPP.
Yet, Sorrell seemed unfazed.
He had, after all, stared corporate suicide in the face 10 years ago - and lived to overshadow his competitors.
His conquest of global communications began in 1986.
Then, the former financial director of Saatchi & Saatchi - another advertising big boy - bought shopping
basket manufacturer Wire & Plastic Products. It may take some believing today, but five years later, Sorrell
had over-extended WPP so much, it was on the brink of bankruptcy.
That year, the ad market collapsed during the American recession, WPP's stock market value fell from
US$498 million to US$32 million.
Neck-deep in debts totalling 500 million, he negotiated a lifeline for WPP by successfully persuading his
creditor banks to be WPP shareholders and assuring them that he would halt his company-buying spree.
Since then, he has not allowed himself to forget how close to failure he came.
'I'm plagued by a natural insecurity which borders on paranoia,' he said, simply.
It is a weakness he freely admits to, dreading the improbable slippery slope that will take him back to the
days when WPP was a two-man firm operating out of a room.
FROTH ON THE CAPPUCCINO
STILL, having pumped WPP up to a market value of 9.4 billion from scratch in only 15 years, few would
begrudge him the spoils of victory.
He is now banking on e-business ventures to fuel WPP's ever-revving engine of growth.
Such ventures, he raved, are like 'froth on the cappuccino of WPP's core businesses'.
In WPP's case, he added, that froth currently makes up between 5 and 15 per cent of its total business,
yields creamy revenues of between US$350 million and US$1 billion and looks set to grow even thicker.
Traditional businesses - like Ford, IBM and Unilever - he said, had picked up on his e-business message,
and so he will be counting on them for the bulk of this year's ad dollars.
As he put it: 'Shrewd clients start to spend more heavily when the economy suffers, because they know the
best time to forge ahead with a fresh image is when their competitors are lagging behind.'
Admittedly, he hastened to add, it would be difficult to maintain the delicate balancing act between sinking
more money into costly ads and keeping the business afloat.
As for new markets, he let on that Asia and Latin America are very close to his heart these days, as he
expected 'one-third of WPP's business to be in those regions within the next five years'. The only risk, he
added, would be if either turned parochial or inward-looking.
But what of the $64,000 question: Will Singapore or Hongkong be Asia's marketing hub of the future?
After a rare pause, he hinted at the answer by calling the China market 'critically important in the long term'.
As he put it: 'There are 1.3 billion people in China, and money is going there.
'The economics of it might sound simplistic, but you can't deny it is a very powerful image.'
AMERICANISATION, NOT GLOBALISATION
STILL, with free trade being the single biggest driver of economic growth today, Sorrell said, China would not
be dictating change for a long while yet.
He stressed: 'The world is not being globalised. It is being Americanised.'
They may seem strong words, but they come from one among a handful of Britons who have beaten the
Americans at their own game.
There are, he said, essentially two major pitfalls to Americanisation:
Brands, however good, which did not seek to dominate the American market, have either disappeared or are
disappearing; and
Over-capacity in industry has shortened product cycles so severely, manufacturers are scrambling to brand
their stuff to help differentiate themselves from competitors.
But, fresh from his March pow-wow with American Federal Reserve chairman Alan Greenspan, he brushed
off talks of a looming recession, saying that 'there won't be great storm clouds in the long term'.
WOOING THE YOUNG AND THE RESTLESS
THERE is, he said, a significant change in mindset needed among employers - mainly from shifting their
preoccupation with downsizing to increasing employment instead.
'I can hear squeals from businessmen everywhere already,' he quipped, with a chuckle.
But, he added, employers were not the only ones to blame. As he put it: 'The Web has changed young
people's attitudes fundamentally.
'I don't think it is wrong to be young and restless, but I take issue with their impatience and being very
focused only on short-term goals.'
The young workforce's disdain for corporate loyalty, after seeing what downsizing did to their parents, made
apprenticeship meaningless to them.
In a bid to change their minds, he introduced the WPP Partnership programme, a management-grooming
scheme for bright graduates, which saw 800 applications for the 10 available places this year.
He also encourages cross-fertilisation of ideas through internal WPP creative competitions like the Atticus
awards.
He said: 'I hope the correction in global stock markets gives the young a longer-term perspective on things.'
'It's B2B - Back To Business - now,' he quipped, referring to last April's bursting of the dotcom bubble.
In particular, he said, it was important for the young to learn that while they may have the ability to build
businesses within a short period of time, they knew zilch about managing companies effectively.
'Everyone who has set out just to make money has never made it,' he declared.
That seems a clanging irony, coming from the money man himself.
And, while he insisted that he was 'loath to give advice', he relented long enough to share two nuggets of
wisdom:
'Luck is, perhaps, the No. 1 factor for success. It is terribly important that you be in the right place at the right
time.
'Second, have a willingness to stick it out and make commitments.'
But, above all, he stressed: 'Really, really enjoy what you are doing.'.
Document stimes0020010715dx6a009y0

Colonial design, Maoist motif.
860 words
10 June 2001
Straits Times
STIMES
English
At the China Club in Capital Tower, you can have a drink at the Long March Bar and eat haute cuisine - if you
pay a $15,000 membership fee
TAKE a good look at the photographs of the new China Club in Capital Tower because, unless you are
prepared to pay a $15,000 membership fee, it is unlikely that you will ever get a chance to visit the real thing.
The brainchild of flamboyant Hongkong entrepreneur, Mr David Tang (who was fashionably late for the official
opening by almost a month), the businessman explains that the private dining club is the third China Club to
open after the first in Hongkong (1991) and the second in Beijing (1996).
For $15,000, what you will get is the privilege to dine in any one of 12 private rooms, smoke Cuban cigars at
the Long March Bar or sample haute Chinese cuisine in the main dining hall.
For most, this will not sound like much unless you happen to be an aesthete like Mr Tang himself. In which
case, the sheer pleasure of dining under hand-painted silk shades and pink chandeliers should be worth
every cent.
Continuing the successful theme of colonial Chinese interiors and 'communist chic' (which he discovered
ages ago), Mr Tang turned the rooftop of the Capital Tower into a 19th-century Chinese tea house without
letting the incongruity of the slick, stainless steel window bracing, or the metre-upon-metre of sheer glass
rattle his sense of aesthetics.
Designing the club himself for $2.5 million, the main challenge was having to deal with a rooftop space that
was exposed to the sun on all sides.
'I don't know who designed this building, but he certainly didn't know how to shut out the sun,' he says,
speaking with a very British accent.
Perturbed, but not defeated, he further harangued the redundant, over-engineered steel fins that were meant
to be sun-shading devices, and countered with his own 'engineered silk shades' that stretch across the ceiling
like exotic tents. And these do actually filter out the sunlight. Touche!
It is his ability to combine high-tech and low-tech as easily as he does capitalistic and communist styles, and
with such aplomb, that the China Club is the design success that it is.
Describing the look of the club further, he says: 'If you want to do a Chinese interior these days, it has to be a
bit Western. It has to be a juxtaposition of East and West.'
Tang handles other contradictions in style with an equally deft touch - like the very bourgeois French,
block-printed wallpaper which hangs next to a portrait of Mao Zedong.
So when the lawyer-turned-designer confides that he wanted to give Singapore's China Club a sense of
'romance', an element that he says was missing in the two earlier establishments, one is perhaps not as
surprised as one otherwise might be. After all, in his world, why shouldn't brusque businessmen want to dine
in an atmosphere of romance?
'The life of the businessman is so boring, isn't it?' he asks, rhetorically.
With romance still in mind, Mr Tang also designed the 'pavilion rooms' on the mezzanine such that each is
dominated by a cluster of red Chinese silk lanterns. Inspired by the Zhang Yimou movie, Raise The Red
Lantern, he wonders out loud if this will suggest that the rooms are 'for mistresses'. And just in case they do,
he says all rooms have more than one exit, for a quick escape, if the need arises.
There are other witticisms to be found.

Over the Long March Bar hang three scrolled slogans, all once uttered by great Chinese men. In the centre is
one by Sun Yat Sen. On the left, is one by Mao Zedong ('Because he is a bit of a leftist,' explains Mr Tang),
and on the right ('to be fair'), one by Chiang Kai-shek.
The hype that seems to follow Mr Tang wherever he goes and whatever he does - the Cuban cigars for which
he holds the exclusive franchise in the Asia-Pacific region; the Shanghai Tang shops; the supermodels -
belies the fact that as a designer anyway, he does really seem to know his stuff.
For instance, he can describe the technique required to give ordinary mirrors an antique finish - 'You stress
the back of the mirror by pouring on sulphuric acid' - and he obviously knew how to hoist 3.5 m-high solid
timber doors, that mark the entrance to the dining hall, up 52 storeys without using a crane, though he
refuses to say how.
What he will say, however, is that he thinks Singapore, as a city, is much 'prettier' than it is thought to be,
especially with its many colonial buildings. Unlike Hongkong, he says, 'Singapore is not apologetic about her
colonial past'.
This insight of his may not be entirely true, but one quickly gathers, that, like the silver spittoons on the floor
of the Long March Bar, some things simply have to be appreciated for their effect.
Document stimes0020010715dx6a009xx

I'm Teochew - and proud of it.
By Sumiko Tan.
1,357 words
10 June 2001
Straits Times
STIMES
English
With Mandarin becoming so entrenched, surely there is no harm in people returning to their dialect roots? But
do the young even care?
GROWING up, I was embarrassed by the fact that my family spoke Teochew.
Whenever friends phoned and my mother called out to me in the dialect to answer the call, I cringed.
Actually, my family used more English than dialect. My father was a St Andrew's boy, big on Tennyson,
Somerset Maugham and Leslie Charteris' The Saint. He spoke English to us, and my siblings and I
conversed in that language.
But my mother - she's Japanese but picked up Teochew with greater ease than English when she married
and migrated here - and paternal grandparents spoke the dialect.
In fact, my family has strong Teochew roots. My great-grandfather owned a Teochew opera company in
China's Swatow district in the south.
In the 1910s, my grandfather, the oldest son, sailed to Singapore where he set up a branch of the Sai Tor
troupe.
My grandmother, also a Teochew, spent much of her early married life sewing elaborate costumes for the
performers. When my great-grandfather died, the troupe was sold.
Why did I have such a complex about speaking Teochew?
The main reason was that dialects were regarded as inferior by my friends and I.
Thinking back, it's strange how my convent classmates hardly spoke it.
We all came from a Teochew area in Upper Serangoon, and I'm sure most of us used it at home. But, in
school, we acted as if English was the only language we knew.
The sentiment then was that if you spoke a dialect, it meant your family was backward and not educated,
which, in our definition, meant English-educated.
Besides, dialects were linked to China. And, in the 1970s, that was not a country teenagers weaned on The
Six Million Dollar Man cared to emulate. Who gave a hoot about the mother tongues of forefathers from a
grey, communist land?
If dialect was a subject we ignored, Mandarin was something we tolerated - painfully. We had to pass it to get
to junior college and university, but it was fashionable to moan about it. There was even a perverse pride in
faring poorly in it.ONE of the best things about growing older is that you become less self-conscious and
more confident of yourself.
You no longer care what's deemed fashionable or how others judge you. You have a greater sense of
yourself, your family and your roots.
And so, it has been that over the past 10 years, I have found myself embracing not only Mandarin but my
dialect, too.
Of the six pre-set radio stations in my car, three are tuned to Mandarin stations. More than two-thirds of my
CD collection comprise Mandarin albums.
A few years back, I approached the Ngee Ann Kongsi to ask if it was keen to do a book on the Teochews
here. Ngee Ann Kongsi: Into The Next Millennium was published in 1999.
The Kongsi, a philanthropic foundation, was set up in 1845 by Teochew immigrants. It counts as its members
some of the most successful ethnic Chinese here. It founded and still helps to finance two schools, as well as
the Ngee Ann Polytechnic. It was a developer of Ngee Ann City in Orchard Road.
Indeed, a large part of my interest in Mandarin and Teochew is a result of reflected glory, pride by
association.
In the last decade, China has shed much of its dreary ways. Today, it is a rising power. While
English-educated Singaporeans of my generation still don't regard it with fondness, we don't underestimate it
any more.
In fact, Mandarin has become cool and some of the most with-it people - think Hongkong singer Karen Mok -
speak it.
Similarly, my interest in all things Teochew came when I realised that two of the most important groups of
opinion shapers here - politicians and showbiz celebrities - are dominated by Teochews.
Parliament counts, among others, ministers Yeo Cheow Tong, Lim Boon Heng, Lee Boon Yang, George Yeo,
Lim Hng Kiang, Teo Chee Hian, Lim Swee Say and Speaker Tan Soo Khoon as Teochews. Celebrities like
Zoe Tay, Chew Chor Meng and Kym Ng belong to the dialect group, too.
Teochew was a factor as well in the surprise 1991 victory of opposition politician Low Thia Khiang in
Hougang, my part of the woods.
The Workers' Party politician wooed the largely Teochew constituency with his melodious command of the
dialect. That they dared vote for him triggered in me a wave of pride in being a Teochew.
Mostly, though, I've been re-visiting my dialect because I've become comfortable enough in my own skin to
accept my roots.
In a world that's becoming culturally homogenised, there really is little left to make one feel special.
If you put me next to a female, non-married, English-educated journalist in her 30s from, say, New York or
New Delhi, chances are that our reference points are the same: Starbucks, Ally McBeal, Dido.
While I love being plugged into that global pop culture universe, it also comforts me to know that I'm more
than those Coca-Colonised elements, that I'm the product of other agents at work.
Dialect is not only about language but a host of other details that make life rich. It embraces the food you eat,
the way it is cooked, how you address your relatives and the traditions you observe.
So, yes, I am, first of all, a Singaporean. But I am also a Chinese, and a Teochew Chinese at that. I feel good
thinking of myself in those terms.IT WAS reported recently that increasingly fewer Chinese Singaporeans are
using their native dialects.
Ten years ago, half spoke dialects at home. Now, about one in three do so. The rest use Mandarin and
English.
In 1979, the Government started a campaign to speak Mandarin - the official language of China which is
more akin to the dialects of the northerners - to bridge the many dialect groups here, the majority of whom
trace their origins to southern China. It was a practical move.
Today, you hear Mandarin everywhere. Even my colleagues toss phrases about in our very English-language
based newsroom.
There's no denying that Mandarin is important economically, and I'm all for it to be promoted.
I rue not having taken a keener interest in it at school, and am ashamed of my incompetence in it. A better
command of Mandarin would have given me more career options certainly.
But it is also true that Mandarin has been promoted at the expense of dialects. A whole generation of Chinese
Singaporeans today are clueless about their roots.
An 18-year-old intern told me last week: 'I can speak Teochew. It's nice to be able to speak and understand it,
then you know what the adults are saying. But it's a little sad because I feel like it isn't really my culture
anymore. Like it belongs to my parents and grandparents, not me.'
For those who champion dialects, this comes as a pity. Dialects, not Mandarin, we feel, hold the key to much
of the Chinese heritage.

But the reality is that even if the Government were to support the return of dialects, no amount of campaigns -
or newspapers columns, or activities held by clans - will get the young interested, if they simply aren't.
A frightening scenario, though, occurred to me the other day.
Folks like me who want to learn more about dialects can approach our parents and grandparents. But these
people are, literally, a dying breed.
If in, say, 20 years' time, the young of today are suddenly struck in their middle age by a desire to discover
their dialect roots, they have only people like me to turn to as a resource.
Given our diluted understanding of dialects, that is certainly a scary thought.
Send your comments to stlife@sph.com.sg.
Document stimes0020010715dx6a009xr

In Short - WOMAN DIES IN TAXI CRASH.
420 words
10 June 2001
Straits Times
STIMES
English
A WOMAN died after the taxi she was in hit the back of a mini-bus early yesterday morning.
Madam Catherine Ching, 53, who was sitting in the back seat, received serious head injuries and died on the
spot.
Singapore Civil Defence Force rescuers had to extricate her body from the wreck.
The accident happened on the Pan-Island Expressway en route to Changi Airport, near the exit to Bedok
North Road.
Police said the taxi was travelling along the expressway at about 4.45 am when the accident happened.
The taxi, which was in the second lane from the right, was turning left when it hit the back of a mini-bus in the
adjacent lane.
The 46-year-old taxi driver had slight injuries and was taken to Changi General Hospital. The bus driver was
unhurt.
The Traffic Police are appealing for eye-witnesses.
Anyone with information should contact them on 547-1818.
MAN TRAPPED IN ANCHOR CHAIN
A SHIPYARD worker died shortly after his right leg got trapped in the anchor chain of a ship he was working
on.
When the chain was released, the impact flung him onto the deck of the ship.
Mr Peh Liang Kuan, 49, had head and leg injuries and was taken to Alexandra Hospital, where he died about
an hour later.
Police said the industrial accident happened at the Hitachi Zosen shipyard in Benoi Road at about 10.30 on
Friday night.
Anyone with information should contact the Police Coast Guard on 440-0000.
RECORD NUMBER OF PIRATED VCDs SEIZED
CUSTOMS officers uncovered a record shipment of pirated VCDs meant for the Singapore market when
they stopped a Malaysian-registered truck at the Woodlands Checkpoint early yesterday morning.
The 32,000 VCDs could have fetched nearly $160,000.
The titles included the latest blockbusters, such as Pearl Harbor, now being screened in cinemas here, as
well as recent popular movies like Exit Wounds and Hannibal.
Customs officer Rahman Sidin, 52, stopped the truck at around 4.30 am.
The Malaysian driver, 22, told him that the truck was empty.
But when Customs officers checked the back of the truck, they found the VCDs packed neatly in 40 boxes
inside.
A Customs spokesman said the seizure was the largest in the history of the checkpoint.

Preliminary investigations, he said, revealed that the Malaysian driver and his 21-year-old truck attendant
were promised a payment of RM500 (S$235) to smuggle the VCDs into Singapore.
Document stimes0020010715dx6a009xg

Hello, is there someone on the other end?
By Debbie Goh.
826 words
10 June 2001
Straits Times
STIMES
English
Automatic answering systems offer 24-hour convenience but rile callers who may not get satisfactory replies
GEORGE Wong pressed 0 and waited. Jared Ng pressed #0 and waited. Tan Mok Lan pressed 2 for
Mandarin and then *0 and waited. Each of them had called a number to speak to a customer service officer.
Dr Wong, a retired plastic surgeon, never did get to speak to anyone. Mr Ng, 28, an advertising executive,
waited three minutes and then heard a recording that asked him to leave a message.
Madam Tan, 49, a housewife, struck gold. She had only a short wait before someone attended to her.
Indeed, getting to speak to a human on the other end of the line does seem like winning the lottery because
so many calls seem to end in limbo on an automatic phone-answering machine.
Said Dr Wong: '99 per cent of the time, we get a message that all lines are busy and to hold on for a
customer service officer to attend to us shortly.'
His complaint in The Straits Times Forum page recently sparked off a discussion on automatic-answering
systems.
But like it or not, such systems are taking over from telephone operators.
Madam Wendy Aw, director of corporate communications for Radiance Communications, which distributes
telecommunications systems and says it has about a 40-per-cent share of the market, estimates that 80 per
cent of organisations here have some form of automatic answering system.
Interactive-voice-response systems that let callers get information without having to speak to anyone are
becoming more popular, she said.
Since these sophisticated systems became available here in the 1990s, banks, educational institutions and
government agencies have been using them. Almost all ministries, statutory boards and departments have
had voice mail or automatic-phone-answering systems in place since 1995.
Organisations are quick to install such systems because receptionists and telephone operators are in short
supply.
Finding a good receptionist who will not quit in a hurry is a rarity because young people view the job as
mundane and routine, said Adecco Personnel, a job-placement agency.
Moreover, the increasing sophistication of the answering systems has eliminated one traditional source of
telephonists and receptionists - blind people.
Bizlink Centre, which finds jobs for people with disabilities, said it was getting hard to place blind telephonists.
Said its general manager, Mr Justin Tan: 'Data appears on a screen and a telephone operator must be able
to see which officer to transfer the customer calling to. So, it's not easy to find companies to hire our people if
they cannot multi-task.'
Radiance Communications' Madam Aw said many companies use such systems to complement
person-to-person customer service.
'Companies realise that a lot of people are calling them for information or services that can be answered by a
machine. So their staff can concentrate on callers who really need to speak to someone,' she said.
Moreover, automated services offer callers 24-hour convenience. Many people, Dr Wong included, agree that
such automated systems are useful, fast and convenient for answering routine questions.

But simply applying technology to business processes, including customer service, may not be as successful
as many organisations think, cautions Dr Hsiao Ruey-Lin of the National University of Singapore Business
School.
Dr Hsiao said: 'Often, people assume that once good technology is in place, everything can be solved.'
Organisations latch on to such applications to handle large numbers of incoming calls or complaints because
they offer a quick solution, compared to more troublesome solutions such as re-adjustment of the whole
organisation, he said.
But such a solution backfires when it does not give the customer what he wants or needs, he said.
The organisations 'ignore a fundamental issue - you need to win the hearts of customers'.
'By focusing too much on technology, companies forget what customers really want. Perhaps customers just
want to talk to a human.'
Most systems give callers the option to speak to someone if they have a query the machine cannot answer.
Unfortunately, not all have enough staff to handle such calls.
The Sunday Times had to call Safe Superstore's customer hotline five times before it managed to speak to a
customer-service officer. The reporter was cut off four times after being put on hold.
Safe Superstore said that its system routes callers to different product departments or to an operator because
this was more efficient.
But its senior marketing communications executive, Miss Veronica Low, conceded there were times when the
system 'missed' calls.
Such misses can damage an organisation's reputation, warns Dr Hsiao.
He said: 'Customers are very soon fed up with the systems and conclude that the company's service is bad.
'They often tell at least 20 of their friends about their bad experience. Others e-mail several hundred friends
about it. It's instant revenge.'.
Document stimes0020010715dx6a009x8

Building on a firm foundation at Suzhou.
By Mary Kwang.
441 words
10 June 2001
Straits Times
STIMES
English
China and Singapore look to extended period of cooperation in developing industrial township even further
SHANGHAI - China looks forward to continued cooperation with Singapore in the Suzhou Industrial Park
(SIP).
Chinese Vice-Premier Li Lanqing said this at a meeting with Senior Minister Lee Kuan Yew on Friday evening
in the SIP.
Mr Li noted that in the past few years, he has enjoyed working with Deputy Prime Minister Lee Hsien Loong
and other Singapore leaders.
'I look forward to our continued cooperation in the future,' he said, adding that he expected more fruitful times
ahead for the industrial township given its existing foundation.
Mr Lee, in his turn, said: 'I share your sentiments. I hope we will build on what we have done so far. The hard
part should be over. It is gratifying to reach this stage.'
Mr Li reassured the Senior Minister that the new Chinese-led management team at China-Singapore Suzhou
Industrial Park Development Co (CSSD), the joint venture set up by Singapore and Chinese consortia to
develop the 70-sq-km industrial township, would do its best to do a good job.
The two leaders were in the SIP to attend celebrations marking seven years of achievements there. Mr Li and
Deputy Prime Minister Lee co-chair a Joint Steering Council which sets policy directions for the SIP, which
was established in 1994.
On Jan 1 this year, the Singapore side handed equity and management control over CSSD to the Chinese
side.
Yesterday, the Senior Minister and his delegation left the SIP for Shanghai, where he met its mayor, Xu
Kuangdi.
Mr Xu, who had visited the SIP recently, praised its management and infrastructure.
He also briefed Mr Lee on Shanghai's economic development. He said that the economy was stable, largely
because of the central government's policy to develop the western parts of the country.
Shanghai has also been tasked with contributing to this strategy. He noted, however, that the economic
slowdown in the US and Japan might affect Shanghai's exports, particularly those from the information
technology sector.
He also told Mr Lee that he remembered that the Senior Minister had told him four years ago that public
education was more difficult than infrastructural development.
He thus paid special attention to this, starting a cleanliness drive several years ago to clear its streets of litter.
As a result, Shanghai looks different now, he observed.
Mr Lee said that one very deep impression Shanghai left on him was its ability to learn and to adapt. He cited
this as the city's strength.
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Letter - Motorists here have bad driving habits.
By RICHARD KEAN.
505 words
9 June 2001
Straits Times
STIMES
English
WE HAVE lived in Singapore for nine years and are often in danger of boring our visitors to death by
extolling the virtues of the country and its government.
There is only one thing which annoys me, and Mr Sharma's letter, 'Crack down on drivers who don't signal'
(ST, June 7), brought it into perspective: the standard of driving in Singapore.
It is the one thing which makes me angry on my return from business trips overseas because the bad habits
I acquired while driving in Singapore are difficult to shake off when I hire a car in Britain, North America,
Australia or New Zealand.
In those countries, I find myself, in moments of inattention, lapsing into Singaporean driving habits, to the
visible annoyance of motorists there, and on occasion coming to the attention of traffic police.
Though it is unfair to generalise, it appears to be standard practice in Singapore to:
Not use signalling lights at junctions.
Not use signalling lights when changing lanes because those behind will accelerate to close the gap.
Straddle white lines.
Show poor lane discipline.
Be spatially unaware.
Rarely use mirrors or glance sideways to check for traffic.
Overtake on the inside.
Hog the outside lane because if they do not, they will never be able to overtake slower traffic.
Hog the middle lane while driving at a slow speed.
Never give way or show courtesy to other drivers or pedestrians.
Jump traffic lights if there is no camera.
Worst of all - and this is something which amazes us in a country where children are so cherished and
supported - small children are allowed to travel in cars without restraint or on the laps of front-seat
passengers.
It is normal to see small heads bobbing around excitedly in cars. Their parents must be unaware of the
energy needed to stop a car, even at 50 kmh. Young children have no hope of withstanding the force of an
emergency stop or a crash. Windshields and dashboards are very unforgiving.
In a country which has the world's most expensive cars, it is strange indeed to see so many people lacking
the sophistication to drive them correctly and courteously.
We love Singapore and only wish the management skills of the Government could be transplanted to our
own countries, but something needs to be done to keep the motorists here in line.
Singaporeans travel extensively and hire cars overseas but they are urban drivers with bad habits,
unaccustomed to the long distances, lonely roads, weather conditions and congested city traffic of other
countries.

Small wonder that Singaporeans meet with accidents when they drive overseas, or encounter motorists there
who shake their heads and say to themselves: 'foreign drivers'.
If Singapore driving standards could be improved, we would see smoother traffic, fewer accidents here, and
far fewer overseas holidays ruined.
And I would be able to slip happily between Singapore and other countries without showing myself to be a
bad driver.
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Mixed response to switch.
By Samuel Lee.
860 words
9 June 2001
Straits Times
STIMES
English
Some say SCV's new subscription plan means they have to pay more. But others are glad their bills have
shrunk and they get only channels they want
SINGAPORE CABLE VISION'S (SCV) new cable TV subscription plan announced last Thursday has made
some subscribers see red.
So far, The Straits Times Forum page has received at least 10 letters complaining that the repackaged
MaxTV subscription plan is just an excuse by the cable company to raise prices.
But SCV told Life! that it has been receiving quite a lot of positive feedback from its 265,000 subscribers.
In fact, though it had only sent out its first batch of 8,500 direct mailers last Thursday, more than 2,000
existing subscribers have already made the switch to the new scheme, said an SCV spokesman.
She added that most of these 2,000 subscribers made the switch based solely on media coverage of the new
plan.
SCV will be disseminating the information to the remaining subscribers over a one-month period.
Ms Tham Loke Kheng, SCV's senior vice-president, sales and marketing, said on Wednesday that MaxTV's
daily sales have doubled since the introduction of the new plan.
'To date, we have signed up 2,000 new subscribers, which is a testimony of their positive response to the
plan,' she said on Wednesday.
But the 10 letter writers said that the repackaging will result in higher costs for those with specific channel
preferences.
Mr Chua How Khim from Jalan Kechil said he could not understand why the cost of getting Japanese
channel, NHK World Premium, has been increased from $8.24 under the old scheme to the present $15.
Mr Desmond Ho from Ang Mo Kio expressed disappointment that sports was excluded from the five Basic
Groups.
He said that sports fans like him would have to fork out more in the process.
Potong Pasir's Mr Koo Kok Kum said his calculations showed that he would be paying more under the new
scheme.
Disgruntled letter writers aside, there are also happy subscribers who feel that SCV's new plan is for the
better.
Civil servant Hassan Said, 35, who was previously paying $50 for the Basic Tier, HBO and TV3, said he can
now drop the Chinese and Indian channels which his family does not watch.
He has opted for SCV's $46 Action Seekers' Value Pack (see other story).
This allows him to get three Basic groups, sports and any two Premium Tier channels.
Another satisfied customer is Mr Ganesha Ramachandra, 31, vice-president in an IT company.
He said that the new plan means savings for him because he does not need the Chinese or Kids' Basic
Groups.
He will be taking up three basic groups at $20 plus sports, and SunTV for his parents.
The new package costs $30, compared to the $34 he paid for the Basic Tier.
SCV acknowledged that there will be some existing customers who feel that their needs are not met.
But the main rationale behind the repackaging was to increase SCV's reach to the HDB heartlands via the
lowering of the basic subscription price, said Ms Tham.
SCV had found that many three-and four-room HDB flat dwellers regarded the $33.94 monthly fee for the old
Basic Tier as too high.
She added that an overwhelming number of subscribers also felt that they were paying for channels on the
Basic Tier which they never watched.
The decision to break up the basic tiers into five genre-based groups was also bolstered by a finding that the
viewing pattern of most subscribers surveyed was genre-based.
Most went for topics like news, sports or entertainment.
It would give consumers a wider berth in selecting their cable TV options instead of being straddled with
channels they do not want to watch.
Ms Tham added that the package took more than two years to draw up because it was a departure from the
norm in the cable TV industry.
Most players, like Hongkong's Cable TV and Australia's Foxtel, still offer the traditional package of a basic tier
coupled with additional paying channels.
Closer to home, Malaysia's Astro and Thailand's UBC offer consumers packages with different line-ups of
fixed channels, instead of a basic tier product with choices.
Mr James Marturano, executive vice-president HBO Asia, is happy with the changes.
'We think it's a positive move which will benefit the market in the long run.
'Besides giving consumers more flexibility and choices, a lower entry level is also a refreshing approach to
growing the cable market here,' he said.
Even though ESPN and Star Sports have been relegated to the pay-extra tier of Basic Plus Group,
spokesman Stephanie Green-Chen said that the company was not worried.
'Sports has traditionally been the driving force for cable,' she said.
'With the new scheme, which is supposed to be more cost-effective for consumers, those who want sports
still have the choice to take what they want and drop what they don't want to watch.'.
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Watch as LIFESTOREY UNFOLDS.
By Arthur Sim.
1,487 words
9 June 2001
Straits Times
STIMES
English
It sounds like a tall tale, but upmarket home accessories store Lifestorey is riding the economic slowdown by
starting a new chapter in the furniture trade. It opened its 17,000-sq ft flagship store at Pacific Plaza recently
IT SEEMS like only a few weeks after Pennsylvania House's demise, Ikea's announcement that it will expand
with a second outlet, and new player Harvey Norman's aggressive push into the market. But Singapore's
own Nobel Design Holdings is undaunted.
Amidst a shake-up in the furniture industry and shakier economic forecasts, Lifestorey, an upmarket home
accessories store and a Nobel subsidiary, is opening a new flagship store in the premises recently vacated by
Tower Records in Pacific Plaza.
And this is after Nobel reported a net loss of $2.1 million last year.
Mr Bert Choong, 49, managing director and founding partner of Sesdaq-listed Nobel Design Holdings is,
however, upbeat.
So upbeat that even the rumour that Lifestorey had lost the distributorship for Kartell (the Italian manufacturer
of trendy home accessories that the first Lifestorey outlet in Suntec City had built its business on) to new
rival, Space Furniture in Millenia Walk, does not faze him.
Instead, sitting comfortably in a deep sofa, he gestures over to a corner of the 17,000-sq ft new retail space,
to where Kartell's logo is emblazoned on the walls and where the display equipment was provided 'free' by
Kartell, he says.
'I see this as an indication of how well I have been selling Kartell,' he adds with a smile, suggesting that the
Italian brand has no reason to be unhappy with Lifestorey's sales.
With over 20 years of experience in the furniture business, Mr Choong is one of the few retailers in
Singapore who can claim legitimately to know the business. His skilful manoeuvring to keep Kartell in
Lifestorey is just one example of this.
If this man is prepared to gamble on the chance that there is still 'money to be made' in the furniture
business, you don't want to dismiss him.
'The economy slow-down is temporary and we want to be ready to catch the next wave,' he says.
His prediction is not baseless. Last year, the product arm of the Nobel group of companies, which includes
the furniture stores Marquis Furniture Gallery (now also relocated to Pacific Plaza) and OM (in Paragon and
Marina Square) reported an increase in turnover to $11.3 million. It was a big enough jump - 79 per cent - to
give Nobel 'the confidence to do this', Mr Choong says, sweeping his hands across the room.
NETWORK OF SERVICES FOR HOMES
NOBEL is not the only furniture company which is optimistic.
Though Mr Choong will not say who his direct competitors are, similar stores with the 'lifestyle' tag abound.
Space Furniture, for instance, has taken up 20,000 sq ft at Harvey Norman's 100,000-sq ft store in Millenia
Walk. Blue Canopy, a Singapore company which began as a small kitchen accessories store in a small
corner of Park Mall, has now expanded to twice the size of its last outlet in Takashimaya Shopping Centre,
and has now relocated to where the Laura Ashley boutique was in the same centre.
So how will Lifestorey tackle the competition?

Mr Choong expects Nobel's 'infrastructure', which permeates all levels of the furniture business, to be the
deciding factor in whether it sinks or swims.
Apart from its products arm, Nobel also runs a profitable commercial interior design contracts division.
Another company specialises in tendering for condominium kitchen projects. A manufacturing arm makes
office system furniture and home furniture. There is also a property development arm 'because, after 20 years
in the business, we know what home owners really want', he says.
Last year, Nobel ventured into e-commerce but over-estimated the response for its commercial home
accessories website, home2be.com.
'Singaporeans just aren't ready to buy from the Internet,' Mr Choong concedes.
The company lost a little over $2 million on its e-commerce venture but expects its business-to-business
website, buylateral.com, to turn around with a projected $5 million in turnover from overseas business.
It is this diversity that has helped Nobel survive the two recessions of 1986 and 1998. Having built up a wide
network of business contacts, Nobel's subsidiary companies actually support one another.
Now, it is Lifestorey's turn to deliver.
The new flagship store has been on the planning boards for more than 18 months. Mr Choong says it was
just a matter of finding the right location.
The recent economic slowdown has been unexpectedly providential as Orchard Road rentals are now more
affordable. 'Yes, we actually got a good deal on the rent,' he confirms.
He adds that the renovation cost for the huge space did not amount to much, partly because it was done
in-house and also because little needed to be done.
In a speciality retail store like Lifestorey, which Mr Choong says survives on impulse buys, it is the
merchandising mix that is crucial. It needs to charm, surprise or shock the consumers into parting with their
money. He remembers a time in the early years of the business when people did not even know what
wallpaper was.
'Today, you can't sell a coffee table anymore if it is just a coffee table. It has to have extra value!' he says.
ECLECTIC MIX FOR IMPULSE BUYERS
'EXTRA value' in terms of merchandising for Lifestorey has been undertaken by Ms Jean Wee, who is in her
early 40s, the executive director and group design director.
Kartell takes up one corner of Lifestorey, but Ms Wee scoured the trade fairs of Frankfurt, Paris and Milan to
fill up the rest of the shop.
'But it's more than just buying something and putting it on the shelf - it won't work that way,' she says. 'There's
a passion involved.'
The beaded and sequinned clutch bags may appear to be an unusual addition to the product line, but they
are there because she loves them herself.
Ms Wee, who is an interior designer, conceived different sections for the store to include one for bed and bath
items (Charlie Brown bed linen), kitchenware (cutlery by Antonio Citterio), home accessories (Keith Haring
throw rugs) and furniture (some of which she designed).
The complete range of merchandise, which extends to lighting, bath oils and even pyjamas, is all expected to
cost between $5 and $5,000. And all of it reflects the buyer's good taste.
Ironically, good taste is becoming more common these days as witnessed by the similar merchandise being
carried by many other lifestyle stores in Singapore.
For example, LSA, a popular upmarket brand of glassware, is available here in most major department
stores.
'This is something we can't run away from,' concedes Ms Wee, who adds simply: 'If we like something, we
buy it for the store.'
So though it may be advisable to check out and compare prices before making a purchase (and most
Singaporeans actually do), do not make the mistake that Mr Choong's sister made. She lugged a trendy step

ladder back from Paris only to find when she got back that her brother is the authorised agent for it in
Singapore.
Thanks to stores like Lifestorey and others like it, you can get almost anything from anywhere in the world in
Singapore now.
Lifestorey and Marquis Furniture Gallery are now located at the fourth and fifth floors of Pacific Plaza (tel:
737-7998).
BEST BUYS
LA MARIE CHAIR
Designed by Philippe Starck, $295THIS little polycarbonate plastic chair by design guru Philippe Starck
helped make the brand Kartell hip. The beauty of it is not so much in the design but that it is virtually
indestructible.
KEITH HARING RUG
$229THE 1980s American icon of street art was smart enough to slap his designs on merchandise so that
everyone can afford his art.
IITTALA GLASS
By Aino Aalto, from $26THE woman behind the famed modernist Finnish architect, Alvar Aalto was a
respected designer in her own right. The range of household glass she designed in the 1930s won the gold
medal at the Milan Triennale in 1936, beating even her own husband's to the medal.
MATHIAS ROOM SPRAY
(From France) $49SHEER indulgence but works much faster than your average aromatherapy burner,
Mathias room spray comes in yummy fragrances like fig, almond butter, lilac, gardenia and acacia.
OXO PC DESK
By Antonio Citterio, $1260
SOFAS designed by Citterio can cost upwards of $10,000 so this little computer table, made by Kartell, is a
steal at a little over a thousand dollars.
CESTINI BINS
$165RUBBISH never looked as good as when thrown into one of these bins which come in clear plastic,
primary colours. Also by Kartell.
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Making those bananas stay fresh longer.
By Chang Ai-lien.
410 words
9 June 2001
Straits Times
STIMES
English
NUS scientists are modifying the genes of fruits to prevent them from ripening too soon, which could save
money in storage costs and wastage
RESEARCHERS at the National University of Singapore have come up with a way to help fruit keep from
spoiling by as much as four months longer.
They have cloned and modified the genes which fruits and plants use to produce the gas ethylene, which
causes ripening.
With doctored genes, the fruit produces 90-per-cent less ethylene.
Associate Professor Pua Eng Chong of the NUS Department of Biological Sciences, who leads the research
team, said this could mean millions of dollars saved in storage costs, and prevent kilograms of fruit from
ripening too soon and spoiling.
Researchers at the department's plant genetic engineering laboratory are focusing on bananas for a start.
The world produces about 70 billion kg a year, or about US$1.5 billion (S$2.7 billion) worth.
He said: 'The problem with bananas is that they are highly perishable and can't be transported unless you
use expensive refrigerated storage systems.'
The industry's largest losses result when the fruit ripens too fast and spoils, he said.
'By stopping ethylene production in the fruit, we can do away with refrigeration and still get the bananas to
market before they are overripe.'
Such genetically-modified fruit would be an ideal crop for tropical countries in the region, as they grow well
here and could be shipped overseas without fear of spoiling. 'We can time exactly when we want the fruit to
ripen. A few days before they are sold, the bananas are simply treated with ethylene gas and will ripen
normally,' he said.
His lab has also cloned and doctored the genes controlling ethylene production in orchids and mustard
plants. When re-inserted in the plant, the modified genes keep it from producing ethylene.
Although he has succeeded with the mustard plant, he is still working on perfecting the technique with
bananas. He estimates it will take another two years.
The laboratory is also collaborating with hospitals here to work on modifying plants to produce an edible
Hepatitis B vaccine. Several labs around the world are doing the same.
Prof Pua explained: 'These all grow fast and they don't have to be cooked. The vaccine is in the form of a
protein, so if it's cooked, it will be destroyed.'.
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This might shock you but it's meant to.
By Han Fook Kwang.
1,329 words
9 June 2001
Straits Times
STIMES
English
IF YOU'RE in holiday mood during this school-vacation time, and have taken leave from work to enjoy the
sights of Phuket or Perth perhaps, this column is written specially for you.
It's not about what to see or do in those places, though.
In fact, it's meant to ruffle your placid state a little and bring you back to the real world which you've tried to
avoid.
That reality is going to hit you sooner or later, there's no escaping it. So you'd better know the truth, or the
shock, when it comes, might be too much.
Now that I've got your attention, I should start from the beginning.
The good life that you've been having these past 30 years - your job, house, the peace and plenty all around -
much of it is going to end soon.
In fact, it's already beginning to unravel for many of your neighbouring friends, in Indonesia, the Philippines,
Malaysia and Thailand.
You've read about it in the newspapers and seen it on television. But it has not really hit home because
you've not been affected.
But you will.
You see, the reasons the region had it so good for so long, they've all disappeared - for good.
The people with the money and the technology, and who poured in here in the 1970s and '80s, were mainly
the Japanese.
That was when they too were on a roll. And when Japan became too small for their grand plans, they went
abroad to take advantage of the lower costs here.
It was boom time for both sides. The Japanese conquered the manufacturing world with their products made
from the cheap factories here. The region, including Singapore, gladly accepted their cash and technology,
and were carried along by the Japanese engine, for 30-odd years.
And then, quite abruptly, it ran out of steam. The Japanese had their own crisis at home (that's another story
worth telling at another time), and their money dried up.
It would have been all right if, during that prosperous time, the countries in the region had used the
opportunity to really develop their societies, to educate the people, and build the infrastructure and the
institutions necessary to sustain their growth.
But it didn't happen. Instead, only a small segment of the population enriched themselves, and put in place
systems which tended to protect their power and wealth.
In short, they messed up their politics.
There were no deep-rooted, foundation-strengthening changes, but plenty of instant millionaires, glamour
projects and a whole lot of hype.
So, when a really serious crisis hit the region in 1997, it all came crumbling down, their economies, the
political systems, the social upheaval.

It took a financial typhoon of that size to expose the weaknesses but no one can say they can't understand
why it happened.
But that's not all.
And this is the really frightening bit - there's much worse to come.
Amid all this - as if it wasn't enough - a momentous change was taking place north of us, slowly at first and
with not much impact on the region, but now working up to a real storm.
China's awakening and its opening up to the capitalist world has been in the works since 1978.
But it is only in the recent 10 years that we are beginning to appreciate what a life-changing experience this is
going to be.
For the countries in the region, the immediate effect has been an almost total collapse of foreign investments
which have all been sucked into China with its cheap but abundant and skilled labour.
A recent study showed that China attracted more than 60 per cent of all new foreign direct investments in
emerging Asia, while South-east Asia received only 17 per cent.
This is a complete reversal of the situation 10 years ago, and is likely to continue well into the future.
In fact, the investments into China will become more and more sophisticated, as it moves up the technology
ladder, and will soon threaten even Singapore's attractiveness to high-tech companies.
Even the Taiwanese are feeling the economic heat now from across the strait.
Bitter political foes they might be, but the inescapable truth for the Taiwanese is that they need China as their
most important engine for growth.
Business Week's cover story this week cited one of the icons of Taiwan's computer companies, Microtek,
which makes high-quality scanners, being forced to look at the mainland - not just as a manufacturing base
but as a major market, crucial to its survival.
So much so that the company's China operations could be bigger than the parent company's in Taiwan.
It represents, the magazine says, a seismic shift in the economic relationship between the two, one which
will cause political tremors on the island in the years to come.
Yesterday, we reproduced a piece from the Financial Times about how even Japanese companies were now
relocating to China, including one leading electronic plant which had shifted its entire television assembly line
there.
China, it said, could now meet Japanese companies' high quality requirements.
For the countries in South-east Asia, the danger of being bypassed completely and left out in the economic
race has never been greater.
Think of North and South America if you find it too difficult (or painful?) to picture the unfolding scene.
China, Japan, a united Korea, that part of North-east Asia, will be like North America in 20 to 30 years' time,
with Shanghai, Beijing, Hongkong, Seoul, Tokyo and Taipei the Asian equivalents of New York, Los Angeles,
Chicago, Boston and Seattle.
And South-east Asia? Think Latin America - much poorer, often racked by political upheavals and social
unrest, and totally dependent on its northern giant for its economic growth.
Come to think of it, even the climates of the two corresponding regions are similar.
Singapore?
It could still thrive, but the bustle would be more like that of Sao Paulo in Brazil or Mexico City. Not New York
or Boston.
That's because, as many people say, geography is destiny, and there are very few countries, perhaps none,
which have disproved the theory.
Okay, I've painted a gloomy, worst-case picture of the future, for effect.

But I've not made it all up either.
Economists and academics have written about it although they're obviously more cautious and tentative
about whether it'll turn out so bad.
I've decided to simplify things a little, and sock you in the eye with a bit of exaggeration, like the parenting
campaign now on about how, if you don't spend time with your child, he might grow up into a murderer
instead of a doctor.
Of course, it could all turn up right: the global economy booms, carrying along all in its train, including
Southeast Asia, and we're back on track to what it was pre-1997.
But I doubt it. The world has changed too much, for the reasons I mentioned, and those changes are all too
real and permanent.
At best, it might not be so bad, somewhere between where we were and the worst case.
How Singapore can continue to do well in this completely different world will be its biggest challenge since
gaining independence.
What economic and political strategy best suits the new environment? How to prepare the people for the
struggle to come? What type of leaders to undertake this enormous challenge?
I think the Government knows the challenge only too well, but I'm not sure the people are ready to face them
squarely.
I hope I haven't spoilt your holiday, though.
Enjoy it while it lasts, because the real world beckons.E-mail: hanfk@sph.com.sg.
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It took a priest to break dot.illusion.
1,123 words
9 June 2001
Straits Times
STIMES
English
WHENEVER she passes a Starbucks outlet, the heady days of signing contracts on napkins, gulping caffeine
and telecommuting waft back to Ms Reene Ho-Phang, together with the bittersweet aroma of coffee.
For a fleeting moment, the 31-year-old smiles a nostalgic smile for the dot.mania dreams she once brewed.
In April 1999, the hotel public-relations manager traded in her laundered suits, fixed hours and an annual pay
packet of more than $70,000, and joined a multimedia start-up called Makansutra Media.
Makansutra, a Malay-Pali hybrid word meaning 'eating lessons', is the title of a bestselling street-food guide
which went online with its own search directory (www.makansutra.com) of the best hawker stalls here.
Its business plan was to grab online advertisers' dollars through the Singaporeans' stomach for good food.
Seduced by the appetising proposition, for the next 1 1/2 years, she slept an average of four hours a day,
lived virtually online and counted every cent.
By day, she charged about with her constant dot.companions - laptop, Palm and WAP-enabled phone -
coordinating the website, organising e-community activities, soliciting ads, crafting business plans, facing
down venture capitalists, trying to balance the books, seven days a week.
In between, she met prospective partners at Starbucks, the rent-free office for cyber aspirants, drew pie
charts on drink coasters and explained her revenue model till she was blue in the face.
At night, she surfed the Internet for pioneering American sites to research business models and, later, lay
awake pondering how to milk money out of dots.
'In a dot.com, everything is squeezed into half the time. You've no time to eat. Every second counts because
you are fighting for survival. Everything online gets copied the next day. The whole game is about beating
time, getting there as fast as possible,' the pencil-slim woman says in a rush.
She was a one-woman firefighting machine, fuelled by 'inspiring news of people getting funded almost daily'
and the momentum of snuffing out one crisis after another.
'Many times, it felt like you were hanging off the edge of the cliff, worrying who was going to pay you, then a
lifeline would be thrown to you,' she lives to tell. Over the 18 months, the money she managed to raise from
website and print advertisers was just enough to cover her operational expenses for getting around, sky-high
phone bills and Starbucks cheesecakes.
Of course, living online also meant chalking up Internet charges to the tune of more than $700 a month.
In the meantime, spurred by online interest, the printed food guide, Makansutra, sold a record-breaking
30,000 copies since 1999. Recently, it clinched its own weekly TV show and became a classic old-economy
success story.
However, its e-commerce dimension never took off. Despite her many presentations, venture capitalists also
did not buy into its mass-market potential.
In April last year, when the Nasdaq tanked, her niggling fear that the Internet's 'hype exceeded its possibility'
was confirmed.
Hordes of people, she noticed suddenly, were 'capitalising on bullish public sentiment, overselling
themselves, but had no real intention of making their business work'.
She felt it was ethically wrong to partake further in what had become an 'overselling game'.

The final straw was when her parents lost money in the stock market. She realised that real people were
getting hurt.
Troubled, she consulted her church priest. With uncanny foresight, he told her solemnly: 'This is an illusion,
wake up.'
So she did. She left the dot.com to her founding partner, freelance photographer K.F. Seetoh, who is now the
TV-show host, donned her power suit and rejoined the corporate world in August last year.
By then, she noted, the bubble had burst but people were still optimistic about a rebound. Few were willing to
believe that the party was over, many still gatecrashed the dot.fray every day. Quite a number of them asked
her why she forsook the 'goldmine'.
'But I found it hard to explain myself,' she says a tad regretfully. 'It was not easy to share what I had to
struggle to learn. The Internet is such a new area, there are no good teachers. I had to rely on research,
intuition and gut feel.'
She says she wished she could have warned them off but decided they had to be left to learn their own
lessons, the way she had.
Having taken a career detour, she was prepared to start from scratch but, in the end, her dot.failure turned
out to be a 'stepping stone' to a bigger portfolio.
She took up a longstanding job offer from Banyan Tree Hotels and Resorts as its director of marketing
communications. She says she chose this employer because it was a 'rapidly expanding Singapore brand
that has a chance to make it in the world market'.
Also, she wanted to learn from the best Singaporean entrepreneurs and marketeers like company chairman
Ho Kwon Ping and joint managing director Edwin Yeow.
Bearing in mind the new-economy changes she had gone through, she negotiated for 'breathing space to
structure things my own way, minimal supervision and flexibility so that I'm not buried in red tape'.
She now runs a department of five staffers, which she likes to see as her 'own PR outfit within a bigger
company'. All in all, she says she is unrepentant about the past. What her cyber adventure cost her, she
says, was mainly 'beauty sleep' and hefty Internet charges which must have helped enrich telecommunication
companies here.
'For that kind of experience, what I paid was well worth it... I don't think money is the issue here at all. It's
about finding yourself, growing, shaping your character, deciding how you want to do business, whether you
are willing to compromise yourself,' she says.
'I gained all these experiences and I now have a grasp of how business works.'
The stint also bought her and her husband, Peter, an HR executive-turned-Web-content-producer, courage.
'When we hear of companies folding, we are very cool about it. We don't fret, we just move on and ask:
What's next?
'That's something not found in our Singaporean culture.
'But this taught us to have the courage to dream, challenge yourself, take risks. And once this fire is lighted, it
cannot be put out.'
Would she do it all over again when the Next Big Thing comes about?
Quaffing down some coffee, she nods vigorously: 'Well, if the opportunity is there, and there are good people
to work with, why not?'.
Document stimes0020010715dx69009m8

From dot.com to dot.bomb.
By Susan Long.
1,971 words
9 June 2001
Straits Times
STIMES
English
It was only last year that high-flying dot.commers were counting their millions and basking in the limelight.
Today, many of their companies are in dot.coma, if they have not already become dot.corpses. Our senior
correspondent surveys the dot.carnage.
THIS time last year, everyone - from neighbourhood fruitseller to laundromat owner - was clamouring to add
dot.com to his store signage.
This time this year, dot.coms are denying they are dot.coms. Things have taken a prosaic turn. They now call
themselves technology companies, Web developers, infrastructure providers, financial services or just durian
sellers.
Gone also are the chief visionary officers and other dotty designations, once fairly glamorous, now faintly
ridiculous.
Since the Nasdaq crash of technology stocks last April, which left investors US$3 trillion (S$5.4 trillion)
poorer, dot.coms have been down in the doldrums here, there and everywhere.
Singapore analysts do not expect new launches in the next 12 months because of poor market sentiment
towards anything remotely high-tech. Dr Thomas Ng, managing director of Singapore venture-capital firm
Technology Development Fund, exclaims: 'Not only dot.business but everything, from telecommunications to
software, is in the dog house.'
Since the bubble of never-ending valuations burst, the market is still shell-shocked. Schroders
fund-management assistant director Ng Soo Nam describes it as 'like a person going shopping not knowing
what is the fair price for a bag of rice'.
Call a company flush with funds and IPO plans just a year ago, and you will often hear an eerie 'number no
longer in use'.
Reports from the United States have it that at least 369 substantial dot.coms, which received formal funding,
went to the mortuary in the first quarter of this year. Overall, estimates have it that at least one in five
dot.coms died last year.
There are no dot.bomb statistics for Singapore but industry watchers say there are probably as many, if not
more, casualties lurking in the woodwork here - especially those who were conceived as quietly as they
perished, without seeing a day of funding. These are now shell companies whose Singaporean owners are
still murmuring 'sentiments not good' but refuse to admit the gold rush is over.
Others who pitched successfully for the first round of funding promptly burnt it all on grandiose expansion
plans, top-dollar executives, swanky loft offices and marketing blitzes. If you hype it, they will come, or so
they thought.
But when market sentiment soured, these victims of over-consumption had run out of dough and could no
longer raise more. Even getting venture capitalists (VCs) to come to their presentations was a challenge.
As many were first-time entrepreneurs, they were also mired in hurdles like lack of experience, poor financial
management and conflicts with founding partners and investors.
Singapore's small and largely unsophisticated consumer base sounded the final death knell for them.
LICKING WOUNDS
MEANWHILE, online burial grounds like www.upside.com/graveyard and

www.internetedge.com.au/graveyard.htm have sprouted up to document the dot.carnage worldwide.
Lining them up like road kill, these obituary pages list hundreds of dot.coms that have folded, their business
models, burn rates, number of lay-offs and famous last words. Also thoughtfully included are tomb and ghoul
motifs.
Dot.com networking parties these days have given way to Pink Slip parties in the US, where disconsolate,
laid-off dot.denizens gather to lick their wounds, reminisce about the good old valuations, and what could
have been.
Once the scoop was about how yet another lame idea was getting funded an obscene amount of money;
these days the news is all about staff lay-offs, loan defaults and lawsuits.
Once an everyday occurrence, getting funding these days - Web-hosting company Webvisions' founder and
CEO Roger Lim says - is as scarce as 'winning the lottery'. The most oft-asked question last year - 'What is
your e-strategy?' - is irrelevant these days. Rather, the more immediate concern, he notes, is: 'Is your cash
flow positive?'
BACK TO CORPORATION
FOR the dot.gone, the year has been a crash course on how to live with diminished expectations. Of those
still alive, like Webvisions, one of the few profitable hosting companies left in Asia, many are in a 'state of
repair', he says.
In a fashionable return to old-economy fundamentals, they are treading water while wading through the
industry's bad debts and keeping their eyes peeled on costs.
They are also awaiting fresh funds or the ill tide to turn, whichever comes first.
As for click-and-mortar businesses who jumped on the bandwagon during the dot.heyday, many like Pretty
In White, which sells wedding gowns in bulk to bridal shops, are now politely distancing themselves from the
Internet.
It has dropped the .com behind its name like a hot potato and relegated its website to a 'marketing tool'.
As founder Charlie Giang puts it: 'Everybody knows dot.coms are dead now, but they also know that it's the
thing of the future. At the end of the day, it just hinges on whether you can make money out of it. Nothing
beats cold hard cash.'
These days, dot.acronyms like B2B and B2C have taken on a new meaning to reflect how it is now back to
banking and back to consulting for many of the brash-talking young dot.commers who have hightailed back to
business school, banks and consultancy work.
Sick of feeling broke and burning their weekends, many bankable founders who gave themselves a year to
go public have 'retrenched' themselves over the last few months.
Like many others, high-flying investment banker Sandy Oh, 30, set targets such as 'when you will get funds;
when your site will cut the first deal; when your company will start generating revenue' when she set up a
jobs-and-services website, www. cozzee.com, in May last year.
'On a personal level, I had to ask myself how long I was willing to forsake wages or work for money that was
less than what I was used to,' she relates. In March, her targets were unmet, the situation still a stalemate.
She left for ING Barings where she is now vice-president of fixed-income sales.
What surprised her is that her new employer 'didn't see my last year as a waste of time but seemed
supportive of my alternative career choice'.
Indeed, a check with HR managers showed that many companies are gleefully hiring dot.refugees, especially
former CEOs and CFOs, for managerial positions.
Mr Giang has hired several himself. 'Someone has just paid for his million-dollar lesson... he is rich with
experience. He knows the value of both clicks and mortar and should be more level-headed now.'
Other young school leavers who launched small online ventures, hoping to cut years of slog by riding the
e-elevator, also seem to have emerged largely unscathed.
Former journalist Pearlin Siow, 25, borrowed money from her father to start a barter website, Xchange141
.com, last January. It folded last August.

She returned to the grind, poorer by 'approximately the cost of doing an MBA', which she is still paying back
Dad in monthly instalments, but richer for her e-experience. She is now business-development manager for
CNET Networks Asia Pacific, a technology-news provider.
OUCH, THAT HURTS
WELL, nice for them, say industry watchers, but less so for those who paid for their business lessons.
These days, VCs and e-angels - whose portfolios are closer to toxic waste than lottery tickets - are a glum lot.
According to venture capitalist Ng, many who picked up duds during the dizzying heyday for fear of being left
out, are now like 'deers frozen in the headlights'.
'VCs who have invested in the past are scrambling to shore up their portfolio and those who can't get funding
will die. Only those with new funds can pick at the bargains. The bust isn't over yet,' he says ominously.
'I don't think the down cycle of Silicon Valley has hit Singapore yet. Yes, investment has pretty much stopped
here but we haven't seen any major liquidation yet. So it's like the living dead.'
While VC money used to chase deals, Dr Lim Boh Soon, who manages listed Auric Pacific's $100-million
technology fund, says it is now the other way around. Before, it was take it or leave it, now a lot of 'begging'
goes on during dot.com presentations.
Because valuations are more modest, VCs can now afford to look at later stage, pre-IPO deals instead of
riskier seed-stage deals. They can also take longer to mull, probe and decide.
Still, he notes, few are in a bargain-hunting mood because their resources are tied up sorting soured deals
and restructuring to stay afloat.
But the worst losers, most feel, are the novice angels who rushed in headlong to back up 20-year-olds on
$2-million business plans, no questions asked.
Even one of Singapore's veteran angels, Ang Mo Kio GRC MP Inderjit Singh, who has put money into six
start-ups so far, says he had his fingers burnt in one deal where he had a 'minimal stake'.
He observes: 'It is a very hurtful experience. Many won't talk about it. Whatever they have left, they are
putting back into very safe investments.'
As a result, he says, what was once overt optimism has chilled into pensive pessimism. This has crippled
many promising Singaporean start-ups from growing and getting funding.
Of late, he has been advocating a lifeline fund in Parliament to help shore up deserving players so that
Singapore does not lose the entrepreneurial ground it gained in the dot.com revolution.
But the market is still too depressed to listen to good sense that costs money.
So it was that many who thought they were shepherds were just sheep, much energy was squandered over
nought and pockets are lighter today. But there were upsides too.
The main one, says Mr Richard Lai, CEO of financial portal dollarDEX.com, is that in their rush to nab
customers, dot.coms gave out so many free PCs and Internet connections that it made the online experience
affordable for many Singaporeans. 'That might be the best thing that happened,' he quips.
LOST AND GAINED
OF COURSE, dress codes also seem to have a ratchet effect. Despite the crash, people are still wearing
casual. Organisations have grown flatter. Early retirement is still the national dream.
But many like Mr Lai foresee a new class of moonlighting entrepreneurs rising from the ashes. Not unlike in
Hongkong, people work regular jobs by day and return to nurse home-spun businesses deep into the night.
Whatever the case, there are at least more Singaporeans out there who have ever written a business plan,
shopped for office space and stared down a VC. Hopefully, industry players say, those who can withstand
this meltdown's baptism of fire will emerge stronger for it, and more experienced, to ride the next boom.
Because, even as many are licking their wounds, others are already smacking their lips, ready to lunge at the
Next Big Thing, which, right now, looks like the life sciences.

Dr Ng sighs. Business is much like war, says the battle-hardened VC. 'What can one learn after it is over?
Not much. The guilty get away or are punished; the dead are buried or glorified; the victims live on with the
scars. But, soon, all is forgiven and forgotten when the next generation comes along.'
And so, the delirious cycle of greed and fear, boom and bust will go on and on.

In Short - ONLINE JOB SEARCH FOR NTU STUDENTS.
468 words
9 June 2001
Straits Times
STIMES
English
STUDENTS and alumni of Nanyang Technological University (NTU) will soon be able to look for jobs on the
Internet at the school's first online career fair.
Called the Career eFair@NTU, it will be held from July 2 to July 15.
Students and alumni can log on to a specially-created website to apply for jobs based on their stated
preferences.
During the fair, they can also go to the website to have online chats with potential employers and submit
their resumes and applications.
Mr Ng Boon Hwang, director of NTU's office of professional attachments, said the portal was a convenient
way for students to look for jobs. Interested students can now register their profiles at
www.ntu.edu.sg/opawww/careerefair
So far, more than 4,000 students and alumni and 65 employers have registered for the fair.
SAFER HOMES FOR ELDERLY
TO MAKE homes safer for the elderly in 10 constituencies under the Tanjong Pagar Community
Development Council (CDC), a group of student volunteers are installing grab bars and lever taps in senior
citizens' flats - for free.
The students are also going door to door in these constituencies to promote this project.
About 229 households with three rooms and less have benefited from the scheme during its first phase,
which was launched last June.
Some 200 more are targeted in the second phase, which began in April.
About 190 students from ITE West Balestier and Queenstown Vocational Training Centre are involved.
In each elderly person's home, they install grab bars in the toilet and at its entrance. These provide support
and prevent the old folk from slipping.
They also fix lever taps in the toilets and kitchens. These require just a push to be activated.
Madam Xu Yuji, one of the recipients in the first phase, said: 'The grab bars have been very useful. They help
me to stand when I'm bathing.'
The project is part of the Safe Home Programme For The Elderly, which is being conducted by the Tanjong
Pagar CDC, the Singapore General Hospital (SGH) and the two technical institutions.
STUDENTS HELP THE DEAF IN MYANMAR
FIFTY-EIGHT volunteers from the National University of Singapore (NUS) Buddhist Society, Buddhist
Fellowship and Buddhist temples will leave for Myanmar next week to help the hearing impaired. They will
spend a week in Yangon and Mandalay.
The group, which leaves on June 16, includes doctors, nurses and students at NUS' medical faculty, who will
help assess the condition of 170 deaf people and fit them with hearing aids.
Reports say that about one in 10 people in Myanmar suffer from hearing problems.
Others in the group will focus on community service. They will donate foodstuff, clothes and computers to
schools and orphanages there.

NSP to focus on single-seat wards for GE.
By G. Sivakkumaran.
447 words
9 June 2001
Straits Times
STIMES
English
THE National Solidarity Party will focus on fielding its best candidates to contest in the single-seat wards in
the coming General Election.
The party's new secretary-general, Mr Steve Chia, reckons that by not putting 'all the NSP's eggs in one GRC
basket', the party will increase its chances of getting at least one candidate elected.
'We need a break-through this time to increase the NSP's profile and show Singaporeans what we can do,'
said Mr Chia, 31, a remisier who took over as secretary-general of the opposition party last month.
In the last General Election in 1997, the NSP did not win any seats, despite contesting in Hong Kah GRC and
the single seats of Chua Chu Kang and Boon Lay.
Mr Chia, who took over from veteran campaigner Tan Chee Kien, reckons the party has an 'above-average
chance'.
He attributes this to the NSP's hard work over two years in Chua Chu Kang, Boon Lay, Kampong Glam and
Tampines.
'It is easier to convince people that we are capable, responsible and hardworking when they see you in
person,' he said in an interview with The Straits Times.
And in anticipation of the election, which is not due till August next year but is expected this year, the NSP will
increase the frequency of its walkabouts and block-to-block visits to at least three times a week.
Mr Chia said two common grouses on the ground were the difficulty of access to PAP MPs and rising costs.
And he criticised the recent increase in feeder-bus fares: 'It is not right for the PAP to ask the people to
tighten their belts and, yet, raise fares.'
He concedes that given the PAP's dominance, opposition parties cannot hope to take over the Government
soon.
But he thinks the Singapore Democratic Alliance - a coalition of opposition parties - 'can be the basis of a
two-party system in Singapore in the future and offer a non-PAP alternative to Singa-poreans'.
He likens his role in the NSP to that of a facilitator, ensuring it builds itself up as a credible alternative and
getting like-minded people to join it.
Mr Chia, a son of poultry farmers, said he learnt the value of hard work and thrift growing up.
Married to a bridal boutique owner, he hopes Singaporeans will give his party a chance.
He said: 'Competition is good. Only when the telecommunication industry opened up did people have more
choice and better products.
'Likewise, if the PAP holds the monopoly in Singapore politics, we will suffer.'.

Make S'pore a vibrant cosmopolis - PM.
By M. Nirmala.
488 words
9 June 2001
Straits Times
STIMES
English
Mr Goh's vision of a global city connected to the world will form the basis for the People's Action Party's
manifesto in the coming election
MR GOH Chok Tong has a vision. He wants Singapore to be a 'vibrant cosmopolis'.
A global city connected to the world, vibrant with talent from all over the world. A forward-looking city that
plans for the future and has active citizens.
But a city that also has a place for the needy and less advantaged.
And the Prime Minister hopes his vision, which will form the basis for the People's Action Party's manifesto in
the coming election, will catch on among Singaporeans.
Mr Goh, who is Secretary-General of the People's Action Party, said this in an interview carried on the party's
new website, which was launched yesterday.
'If I look into the future ... I would coin this new slogan - a vibrant cosmopolis. We have to be an international
city...
'No matter how good life is, if you are just very local, speaking Singlish, instead of standard English, well, I
don't think we can succeed in the future. So, the new economy is part of this concept of a vibrant
cosmopolis.'
One important aspect of this global cosmopolis is talent, he said.
Singapore is not getting enough of the top layer of global talent.
'You get them - maybe one, two thousand. We should get them maybe by the ten thousand or so.
'It'll make a big difference to this place,' he said.
Global talent is needed to turn Singapore into a vibrant world city.
This would not just be the theme for the coming election, but for the next 10 years, he said.
International talent would help spur the economy, create jobs and make Singapore a better home for all.
And hopefully, over time, these foreigners would become Singaporeans and some of them can serve in
politics, he added.
Four pillars, he pointed out, are vital in helping Singapore build the best home for all - a slogan coined for the
last General Election.
Preparing for the future, as Singapore had done in the last five years. This includes liberalising the economy
and getting talent into Singapore.
Giving Singaporeans the sense that they have a share in Singapore, through programmes such as top-ups
in their Central Provident Fund accounts.
Helping the needy.
Getting more Singaporeans to participate more actively in the nation's political, social and economic life.
While preparing for the future, Singaporeans also need to understand the past, said Mr Goh.

He urged members of the Young PAP, the ruling party's youth wing, to invite four to five members of the Old
Guard to share their experiences of Singapore's history.
These sessions would help members get different perspectives and different angles of the country's history,
he explained.

Upgrade co-operation - Jiang.
By Mary Kwang.
515 words
9 June 2001
Straits Times
STIMES
English
Chinese leader calls for links to be strengthened in key meeting with SM Lee at Suzhou Industrial Park
SUZHOU - Chinese President Jiang Zemin said yesterday that he hoped Sino-Singapore cooperation would
be upgraded to a new high in the new century.
In a meeting with Singapore Senior Minister Lee Kuan Yew in the Suzhou Industrial Park (SIP), Mr Jiang
also described relations between Singapore and China as good and bilateral cooperation in various areas as
fruitful.
Mr Jiang, who is on an inspection tour in Jiangsu Province, had travelled to the SIP to meet Mr Lee, who is
here to attend celebrations marking the achievements of the China-Singapore industrial township over the
last seven years.
During the meeting, which lasted an hour and 45 minutes - much longer than the 40 minutes scheduled - the
leaders also exchanged views on international situations.
Speaking at the celebrations ceremony, Mr Lee said that Singapore would continue with the
software-transfer programme to train Chinese officials so long as the Chinese side found it useful.
"I hope the experience gained in jointly developing the first phase of the township will be a useful guide to
subsequent phases of the project.
"It is important for the SIP to preserve its uniqueness, to be a useful point of reference for officials in other
parts of China."
He also said the resolution of problems encountered had proved a "valuable experience for both sides."
"The result has been a deepening of our understanding of each other, and a clearer appreciation by both
sides of what can be achieved in the project," he added.
Celebratory events at the Park yesterday included the opening of an exhibition highlighting the success of
software transfer.
Another key event was the signing of a friendship agreement to strengthen cooperation between the Suzhou
Industrial Park Administrative Committee (Sipac) and Jurong Town Corporation (JTC).
JTC and Sipac - which is the Chinese local government authority which oversees a 214-sq-km district in
which the 70-sq-km SIP is located - have established warm ties since the Park was established in 1994.
Yesterday's celebrations were also attended by Chinese Vice-Premier Li Lanqing, who personally oversees
the progress of the SIP.
Mr Lee and Mr Li delivered speeches at a ceremony attended by around 300 officials, executives and others
working in the SIP.
At the ceremony, Mr Wang Jinhua, Suzhou vice-mayor and chief executive officer of the joint-venture
company set up by Chinese and Singapore consortia to develop the SIP, announced the establishment of an
11-man international advisory committee for the township. The new panel comprises top executives from
Singapore and overseas.
Mr Lee and Mr Li also unveiled a 12-m-tall monument named Harmony by the Jinji Lake, which is a
recreational site in the SIP, to mark the completion of the eight-sq-km first phase of the industrial township.

Mr Lee, accompanied by Mrs Lee, and his delegation leave for Shanghai today where they are scheduled to
meet Mr Xu Kuangdi, the mayor of Shanghai.
Document stimes0020010715dx69009lt

Remisiers feel pinch of slump in KLSE.
By Reme Ahmad.
485 words
9 June 2001
Straits Times
STIMES
English
Investors are scared of losing money, with the Kuala Lumpur Stock Exchange the worst performer this year
among markets in Asia
MR SYED Azaham Syed Ali moves daily between his day job in town and helping to manage a petrol station
at night outside the capital.
The remisier at one of Kuala Lumpur's bigger stockbroking houses says the sharp fall in earnings from the
market has forced him to take on the second job in the past few months.
'I come to the office every day, but often for a short while. Later, I help my sister run a petrol kiosk in Kajang
after working hours for extra income,' said the 38-year-old. He has been a remisier for six years.
The father of two says he is lucky compared with other remisiers because his wife works and helps to bring in
cash.
'If you are the sole breadwinner, it is painful,' he said.
Hardship stories linked to the stock market abound in the capital. This year, the Kuala Lumpur Stock
Exchange has turned in the worst performance among markets in Asia.
At its close of 575.71 points yesterday, the KLSE's benchmark Composite Index was down 13.6 per cent
compared with the beginning of the year.
The index was also down some 30 per cent compared to a year ago.
In comparison, Singapore's Straits Times Index was down about 11 per cent since January. Trading volumes
in Malaysia averaged 110 million shares a day this year. This is less than half of the average of 280 million
per day last year and 343 million in 1999.
Living in a city where the sense of well-being is often measured by the market's direction, that is bad news
indeed.
'Business has been very, very, very bad. We can't attract volumes because clients are scared to lose
money,' said Madam Halimah Mohamed, president of the Remisiers Association of Malaysia.
Kuala Lumpur brokers say the main market topic nowadays is not about which stocks to buy, but which
broking house might shed workers.
Industry players said that despite a slew of cheaply-priced stocks waiting to be bought, there was a brooding
sense that the market was not going to head higher anytime soon.
Some of the more cynical said the market was likely to slip further due to the lack of foreign funds entering
Malaysia.
Industry estimates said the money taken out of the country by foreigners from the equity market totalled
about RM14 billion (S$6.6 billion) in the past 12 months.
Many reasons have been cited for the flight of money.
These include the global slowdown which has hit company earnings severely, lingering worries that the ringgit
peg to the US dollar could be suddenly removed and perceptions over the lack of corporate transparency and
governance.
Document stimes0020010715dx69009lf

High-profile ops - S'pore's resources are not infinite.
By Liang Hwee Ting.
1,000 words
9 June 2001
Straits Times
STIMES
English
Doctors have to manage increased demand from patients, without straining Republic's limited resources
IRONICALLY, there was little elation on the faces of the specialists who operated successfully on an
Indonesian child born with excessive fluid in her brain last week.
There was no celebration, enthusiastic back-slapping or extravagant popping of bubbly.
Just signs of marked relief.
At the back of their minds, perhaps, was a dilemma that faces medical professionals and hospital
administrators here: for while the success of such high-profile cases is a feather in their cap, it also raises
expectations all round.
First, there was the matter of how well little Chen Shuyun would recover.
The team of neurosurgoens, plastic surgeons and anaesthetists from the KK Women's and Children's
Hospital were careful not to play up the success of the operation too much.
This is because, even though the girl from Indonesia now has a smaller head, her development would not be
normal even after the team places a shunt in her body to drain fluid from her brain for the rest of her life.
But beyond this is a wider concern: How to manage the delicate issue of the operations triggering demands
for more assistance from medically-needy patients, at home and abroad, without putting a strain on limited
resources.
Hot on the heels of Shuyun's successful procedure came calls to the newspapers here, by well-meaning
members of the public, requesting for similar operations to be done on cases they know about.
There was always someone, both here and in the region, who needs such medical help; a crippled boy here,
and a cancer-stricken girl there.
Which of these deserves attention and support, medical and financial? Where to draw the proverbial line? Are
there not Singaporeans in need of medical attention who warrant similar, if not better, levels of care? And just
how much can the health-care system cope with, without over-stretching itself?
The Health Ministry has long maintained that Singaporeans who need medical care will get it, regardless of
their financial situation.
It has a string of programmes, such as the Medifund scheme, as well as teams of medical social workers, to
deliver on this promise.
When it comes to needy patients from abroad, as far as the Health Ministry is concerned, when these
patients go to public hospitals, they are considered private patients who are given treatment as long as they
can pay for it, or have some source of funding.
Indeed, Singapore General Hospital officials took pains to make clear that taxpayers' funds were not used for
the operation on the Nepalese twins. Nor was patient care compromised despite a high-powered team being
deployed for the marathon operation, they said.
But even while the taxpayers' dollar that goes towards health care is safeguarded, Singaporeans have shown
themselves willing to dig deep into their pockets to help out those families in need, wherever they might be
from.
Singaporeans' more-than-enthusiastic response to Shuyun's case came as a pleasant surprise.

They showed the same generosity to Nepalese twins. When The Straits Times highlighted their story earlier
this year, half a million dollars were donated in two weeks to enable the girls to have that critical surgery that
could change their lives.
The press also played a pivotal role in the case of Chen Shuyun.
Chinese-language daily Shinmin Daily News featured the heart-wrenching story of the little girl with a big
head from a poverty-stricken family in Riau, Indonesia and public sympathy was stirred once again.
The paper received over $100,000 for her operation, which costs about $40,000.
Clearly, when they are made aware of a clear need, Singaporeans have proven to be extremely generous.
But herein lies the catch: While people might be willing to part with their money to help out, there is a limit to
medical resources, both in terms of trained staff and hospital facilities.
While it is the mission of every health-care practitioner to see that patients get treatment, no hospital
anywhere can accede to every request.
Hospitals say there are no hard and fast rules on which cases to accept or reject. The National University
Hospital, for example, receives requests by patients in the region for treatment at the hospital every now and
then.
"But while NUH tries to help these patients, with limited funds, we can only help such cases on a
case-by-case basis," said a hospital spokesman.
Some of the things the hospital considers before accepting a case are the patient's condition, his
socio-economic background, whether he is really needy, his medical condition and outcome, as well as the
availability of treatment for such conditions in the patient's country of origin.
"There is always a problem of deciding which case is more needy given limited funds and resources
available," the spokesman said.
In the case of the Siamese twins, a team of 20 specialists and 22 theatre nurses made preparations for the
marathon 97-hour operation even before last October, time and skill that could have been given to other
patients.
The operation's success was a plus for Singapore, not only because it highlighted the high levels of medical
ability here, but also showed the generosity of Singaporeans towards others in need.
Yet, no matter how much goodwill there might be among the public and at official levels, the stark reality
remains that health-care resources are not infinite.
Especially not when the rising cost of health care remains a pressing public concern which hospital
administrators and government officials alike have to grapple with constantly.
The diagnosis seems clear, even if somewhat unpalatable: willy nilly, tough calls will have to be made if the
quality and affordability of such top-rate medical care is to be kept up, both for Singaporeans and those whom
they choose to help from abroad.
Document stimes0020010715dx69009l9

SM Lee renews software transfer pledge to Chinese.
By Mary Kwang.
464 words
9 June 2001
Straits Times
STIMES
English
He tells President Jiang that he feels Suzhou to be his adopted home as Singapore and Chinese leaders
fete success of industrial park venture
SUZHOU - Chinese and Singapore leaders yesterday lauded the Suzhou Industrial Park's achievements as
well as the successful adaptation by the Chinese side of Singapore's experience in economic development
and public administration over the past seven years.
Senior Minister Lee Kuan Yew reiterated the Singapore Government's pledge that Singapore would
continue with its software transfer programme to train Chinese officials so long as the Chinese side found it
useful.
He renewed the pledge to Chinese President Jiang Zemin at a meeting here yesterday morning, and to about
300 officials, businessmen and others working in the SIP at a celebration ceremony.
According to a spokesman for the Singapore delegation, Mr Lee told Mr Jiang that he felt Suzhou was his
adopted home.
People linked the SIP project with him.
He also said: 'For Suzhou to be prosperous, China must be prosperous as well.'
Mr Lee presented a copy of the second volume of his memoirs - From Third World to First, The Singapore
Story: 1965-2000 - as well as a copy of a book on the SIP entitled In Unison, to Mr Jiang.
At the ceremony marking the SIP's achievements since its establishment in 1994, Mr Lee said: 'The real test
of SIP's success will be the response of foreign investors.
'Their decision to invest in SIP or to expand on their existing investments will signal their continued
confidence in SIP and in China's economic future.'
He said he was encouraged by the confidence expressed publicly by the new Chinese management of
China-Singapore Suzhou Industrial Park Development Co (CSSD), which is the developer of the SIP, that
the company would turn around this year and be listed in 2004.
The Singapore side transferred equity and management control over CSSD to the Chinese side on Jan 1 this
year.
Mr Lee thanked Mr Jiang, and Vice-Premier Li Lanqing who oversees the SIP, for their strong support for the
project.
Mr Li, in his address at the ceremony, said: 'The SIP has become one of the most competitive development
areas in China.
'The Chinese government is sincerely happy with the achievements of the SIP.'
He said the next step was to make the park internationally competitive.
Today, the SIP boasts 193 ventures worth more than US$5.1 billion (S$9.2 billion).
It has created 25,000 jobs, built 5,600 residential units and a bustling commercial district.
More than 800 officials from the SIP, Suzhou and Jiangsu have attended training programmes in Singapore
and more than 140,000 Chinese officials have visited the SIP.
Document stimes0020010715dx69009kz
Test drive to see which is best.
255 words
9 June 2001
STBT
English
WOULD you kindly comment on the following new Japanese cars: the Mitsubishi Lancer GDI, Toyota Corolla
VVTI and Honda Civic VTEC.
I am considering buying one of these cars and would appreciate your feedback on: their strengths versus
weaknesses, fuel economy, power, torque and maintenance costs. Also, which, in your opinion, is the best
buy? Lawrence Wee Singapore
BT ran comparative reviews of these cars some months ago. To recap, the Toyota Corolla gets our vote
because of the overall impression it creates with its forward design, superior cabin space, suitably matched
ride-and-handling qualities, positive driving sensation, and ease of use. One minus - its road noise can be
rather intrusive. The Civic is quieter on this front, and its flat floor configuration is quite refreshing.
The Lancer boasts a high-quality interior, if you can ignore its rather plain exterior. You can choose the one
with 'Tiptronic-like' manual shift mated with continuously-variable transmission (CVT). The Lancer has one of
the best CVT jobs available here today. Still, it does not live up to what the Corolla offers in its more
traditional setup.
As for fuel and maintenance costs, there is no reason to believe any of the cars mentioned would incur hefty
bills. A lot depends on driving habits.
As reviews are subjective, and technical specifications not always apparent in the actual driving experience,
we suggest you test-drive each of the cars back to back to see which best suits your personal preferences.
Document stbt000020010716dx69003vf

LETTER - Online financial advice of limited use.
321 words
9 June 2001
STBT
English
I REFER to your article 'Let the bank come to you' by Vasu Menon (BT, May 23).
He stated that banks should take advantage of the high Internet penetration rate in Singapore to play a key
role in the area of personal financial management.
While people may overcome their reluctance in going online, I do not think online advice is appropriate for
personal investment in the context of a comprehensive financial planning, which is individualised and
complex.
It is mandatory for a financial adviser to have a reasonable basis to make recommendations or give advice,
but online advice may lack this basis and thus does not comply with the Monetary Authority of Singapore's
standards and the industry's best practices.
It may be argued that customers can fill in the needs analysis form online but customers, having to grapple
with financial concepts while filling in those forms, may give wrong risk profiles of themselves. As a result,
they may receive inappropriate vice and recommendations.
Online needs analysis is inadequate in offering a reasonable basis for making recommendations and giving
personal financial advice. At best, online financial advice constitute only general advice - and do not
substitute professional offline, human-based advice. Financial advisers must also disclose any conflict of
interest. Do online advisers disclose such information, which is important for consumer to make an informed
decision?
As financial planning is new here, consumers must be protected from the lure of online financial advice
merely on the basis that it is time-saving and cheap.
As consumers become more educated, they will be more willing to share their personal balance sheets with
professional financial advisers - knowing it is the only way financial advisers can develop and implement a
personal financial planning strategy for them.
Moreover, educated investors will find that, while information is readily available online, there is too much to
digest. Bernard Lim Singapore.
Document stbt000020010716dx69003vb

Aberdeen launches China-play feeder fund.
By Genevieve Cua.
320 words
9 June 2001
STBT
English
It will invest in firms with substantial businesses in China
ABERDEEN Asset Management has launched a new feeder fund that invests in companies with substantial
businesses in China.
The fund, which feeds into a mother fund that boasts five-year returns of 25 per cent per annum, is targeted
at investors who believe in China's long-term potential, says fund manager Flavia Cheong. Its strategy is
bottom-up stock picks, rather than adherence to a benchmark.
'In periods when markets are hot, the fund might underperform...We're not momentum investors. But we think
the downside is well cushioned now. Our stocks have good fundamentals and we can, in the long run,
outperform the competition.'
The local fund - Aberdeen China Opportunities Fund - will feed into a Dublin-domiciled fund of the same
name. The mother fund has $73 million in assets, and has outperformed its Singapore-registered
counterparts over three and five-year periods. Over three years, for instance, the mother fund delivered a
total return of 95 per cent, compared to 33 per cent for CMG's Regional China Fund and 24.2 per cent for
UOBAM's United Greater China Fund.
'The China story is great going ahead,' said Ms Cheong, pointing to strong domestic demand and government
infrastructure spending which should generate spin-offs. She said that China and US relations 'will take time
to work out a balance, but they both have vested interests in each other'.
The firm picks stocks with strong financials, an understandable business and strong corporate governance.
As at May, 71 per cent of the fund's holdings were Hong Kong-listed shares, and 19 per cent were H shares.
The fund's initial sales charge is set at 5 per cent and there is an annual management fee of 1.5 per cent and
a switching fee of one per cent.
Document stbt000020010716dx69003v8

StarHub, Microsoft in new partnership.
By Andrew Wee.
275 words
9 June 2001
STBT
English
StarHub to host Microsoft's online collaboration service
INTERNET service provider StarHub Internet and Microsoft Singapore yesterday announced an exclusive
partnership to support an Internet collaboration service, a key feature of the Microsoft's Office XP software.
StarHub is the first Internet service provider here to provide facilities to host SharePoint Team Services, part
of Microsoft's new Office XP software.
The length of the partnership has not been fixed, Microsoft's Tokyo-based vice-president for Asia, Michael
Rawding, told BT.
SharePoint services let Microsoft Office users collaborate over the Internet on projects.
It provides document sharing functions, e-mail notification of document updates and helps organise project
files.
StarHub and Microsoft will also offer bundled packages comprising software and Internet services.
Microsoft Singapore managing director Natasha Kwan is confident SharePoint will find a ready market
among businesses here.
'This is an excellent platform for users who do not know how to create or use a shared website. It is an easy
step towards collaboration on the Web without a steep learning curve,' she said.
These announcements were made yesterday at the launch of Office XP, the latest incarnation of Microsoft's
Office productivity suite.
More than 2,200 IT professionals and corporate customers attended the product launch at the Singapore
International Convention and Exhibition Centre and were treated to an energetic music and light show,
accompanied by a hail of colourful streamers.
StarHub Internet general manager Kyong Yu said the SharePoint services' monthly subscription fees are
expected to cost less than $30 per collaboration site. These services are expected to be offered in mid-July.

A car for your thought.
303 words
9 June 2001
STBT
English
THOSE who think that the cost of owning a car in Singapore is too high - or that the property zoning rules
are too strict - might want to know what some government ministers think of the subject. While browsing
through the PAP's newly-launched official website, we noticed a speech made last year by Minister for Trade
and Industry George Yeo, in which he wondered whether rules and regulations were holding Singapore
back. BG Yeo noted that cars in the United States and Europe have a lot more gadgets. 'We don't see these
gadgets in our cars in Singapore. Is it because we are slow in technology? Or is it because we can't afford
them?' he asked. 'Because of the high cost of cars here, importers, in order to control costs, have taken the
simplest way out to bring in cars that have only the most basic accessories. Is this what we want? We've got
to be careful that the rules and regulations don't unwittingly hold us back.'
He then related the example of Creative Technology chairman Sim Wong Hoo, who wanted a penthouse on
top of his building in Jurong, where he could get a good view of Jurong Lake. He also wanted to
accommodate an arts group in his building, and put on the ground floor arcade game machines where he
could watch how teenagers took to the games. His whole concept was to have relaxation, entertainment,
production, research and development as an organic totality. When Creative directors come to Singapore,
they could also stay there rather than at a hotel. Once all these things are ready, it will be a complex. 'Can
you imagine what kind of regulatory battles he had to go through to make it happen?' the minister asked.

Shutters come down on FantasticOne.
162 words
9 June 2001
STBT
English
THE Fantastic Corporation and SPH AsiaOne, the Internet arm of Singapore Press Holdings, yesterday
announced the closure of their joint venture company FantasticOne (Asia-Pacific).
The joint venture was formed in April 2000 to develop and market content for consumer-oriented broadband
multimedia producers and network operators.
The Fantastic Corporation held 60 per cent of FantasticOne and SPH AsiaOne had the rest.
The chairman and CEO of the Fantastic Corporation, Reto Braun, said of the closure: 'This move continues
our strategy of focusing on our core distribution software offerings and resellers including IBM and HP. It
further allows us to conserve cash as these strategies come to fruition.
'We have maintained good business relations with SPH and look forward to potential future partnerships.'
AsiaOne CEO Low Huan Ping said: 'At this point in time, AsiaOne would like to focus on our portal operations
and work towards profitability.'
Based in Singapore, the joint venture had employed 20 people.

Summit, BSA reach 'negotiated settlement'.
By David Boey.
296 words
9 June 2001
STBT
English
AFTER more than three years of legal wrangles, mainboard-listed compact disc maker SM Summit Holdings
and copyright watchdog Business Software Alliance (BSA) said yesterday they had 'reached a negotiated
settlement'.
As a result, both parties said they 'agree to withdraw all claims and counter-claims made against each other'.
The dispute had its roots in the 15-hour raid on Summit's premises in August 1997 over alleged software
piracy. Various items were seized and a series of court hearings followed.
After the raid, three software companies - Adobe Systems, Autodesk and Microsoft - filed a High Court civil
suit against Summit for alleged copyright and trademark infringements.
This suit was dismissed in October 1997. The companies appealed against this decision but their appeal was
dismissed in February 1998.
BSA, acting on behalf of the software companies, finally lost the legal tussle with Summit in early 1998 when
the High Court struck out its claims of software infringement by Summit. Summit's lawyers then counter-sued
BSA and the three companies.
Yesterday's statement from Summit said both sides share 'a common desire to put aside their
differences...The parties have agreed to a forward-looking approach'.
In a separate announcement yesterday, Summit told the Singapore Exchange it was not aware of any
reason for the sharp rise in the price and trading volume of its shares on Thursday, 'other than the fact that
we have just reached a negotiated settlement with Business Software Alliance'.
On Thursday, Summit shares ended 2.5 cents, or 11 per cent, higher at a three-month closing high of 24.5
cents.
In the market yesterday, Summit shares ended the session one cent down at 23.5 cents with 910,000 shares
traded.

Indon player eyes control of Mayfran.
By Andrea Tan.
361 words
9 June 2001
STBT
English
Option for majority stake could lead to general offer at 23 cents a share
INDONESIAN businessman Johnlin Yuwono is injecting his sanitary products company into Sesdaq-listed
Mayfran International.
Mayfran, the company behind homegrown bedlinen brand Friven, would acquire Singapore-incorporated
Jeje Corp for $22 million - $12 million in cash and $10 million in new shares priced at 23 cents each. The 43
million new shares would give Jeje shareholders, who include Mr Yuwono, an 18 per cent stake in Mayfran's
enlarged capital.
While this would not trigger a mandatory takeover offer, another deal announced yesterday would lead to
one. This transaction involves Mr Yuwono buying 100 million Mayfran shares or a 51.3 per cent stake at 23
cents each from majority shareholder Gimmill Industrial. This and the Jeje deal - though the two are not
conditional on each other - would give the Indon businessman and his concert parties 60 per cent of
Mayfran's enlarged capital, thus requiring them to launch a general offer.
Jeje makes the top sheet (perforated polyethylene film) of sanitary napkins for the China market.
Earlier this year, there was talk that Mayfran was looking for a buyer for its operations. But executive
chairman Henry Koh Gek Leng said: 'Many people have misunderstood Mayfran. We've cash in hand and
almost zero borrowings. We're not in trouble. On Sesdaq, I believe that we're one of the most healthy
companies. If a company is suffering, then we need someone to buy us out.'
Gimmill, an investment holding company and textile manufacturer run by the Ma family, bought its stake from
the Koh brothers at 18 cents a share.
Mayfran, which was suspended yesterday, was last traded at 22 cents each.
On Gimmill selling out, Mr Koh said: 'From day one, they've not been involved in the management. If you're a
good businesswoman, wouldn't you want to sell at this price since you paid 18 cents then?'
Jeje has given Mayfran a net profit warranty of $4 million for financial year 2001. Last year, it posted a net
profit of $2.3 million.
Document stbt000020010716dx69003uz

F & N interim earnings rise 16%.
By Ven Sreenivasan.
374 words
9 June 2001
STBT
English
Turnover rises 23%; subsidiary APB posts 80% leap in net earnings to $63m
BETTER contributions from most of its key business units helped beverage group Fraser & Neave (F&N)
chalk up a 16.3 per cent rise in interim earnings to $100.9 million.
This came on the back of a 23.2 per cent rise in turnover to $1.47 billion for the six months to Mar 31, 2001,
from $1.19 billion the year before.
The bottomline was also boosted by an exceptional item of $25.1 million from the sale of a wine business
held through subsidiary Asia Pacific Breweries (APB).
The results boosted F&N's earnings per share (EPS) to 33.8 cents, from 29.1 cents. Net tangible asset (NTA)
per share rose to $10.45, from $9.81.
Soft drink business profit before interest, tax and exceptional items (PBIT) rose to almost $16 million due to
improved sales volume and prices, while property subsidiary Centrepoint Properties chalked up some $44
million in profit. Times Publishing, which F&N acquired last year, contributed another $18 million to PBIT.
But bulk of the contribution came from subsidiary APB, which chalked up an 80.5 per cent leap in net
earnings to $63.3 million.
Its bottomline was also boosted by strong beer and stout sales in its Indochina markets, China and Thailand,
though the results were weighed down by weak stout sales in Singapore, and lower Sing dollar translated
profits from Papua New Guinea, Myanmar and New Zealand.
The earnings rise was achieved despite a 21.9 per cent fall in turnover to $528 million. The results boosted
APB's EPS to 25 cents, from 13.9 cents. But its NTA remained unchanged at $2.65.
Looking ahead, F&N and APB are upbeat on their respective second half prospects, with both expecting
full-year results to be better than that for last year.
Both companies declared interim dividends of 9 cents per share net of tax.
F&N closed 15 cents higher at $7.30, while APB rose 6 cents to $3.96.Times Pub interim earnings fall 22.1%,
Pg 5.
Document stbt000020010716dx69003s4

JTC Corp, Sipac sign friendship accord.
From Loh Hui Yinin Suzhou.
314 words
9 June 2001
STBT
English
Also launched is an International Advisory Panel
MORE bilateral cooperation is on the cards with yesterday's signing of a friendship agreement between JTC
Corporation and the Suzhou Industrial Park Administrative Committee (Sipac), which oversees Suzhou
Industrial Park.
The agreement will deepen existing ties between the two bodies as the JTC Corporation has been actively
involved in the software transfer programme to the SIP.
It was signed between JTC chairman Lim Neo Chian and Sipac chairman Wang Jinhua who is also in charge
of the SIP.
Under the agreement, the two bodies will explore and exchange experience in the development of high and
new technology industry. They will also consider inviting each other's senior or middle level management
personnel to be consultants.
Both sides will draw up an annual work plan and meet twice a year to monitor its progress.
Another initiative launched yesterday was the International Advisory Panel which is aimed at keeping SIP
management abreast of global trends and how the park could meet the requirements of foreign investors.
As such, its 11 members are drawn from investors who have put money in the park and also reflects their
diverse nationality. The members include representatives from Finnish telecommunications giant Nokia,
Hitachi of Japan, South Korean conglomerate Samsung Electronics and Advanced Micro Devices of the US.
There are four representatives from Singapore: Cheng Wai Keung, chairman and managing director of Wing
Tai Holdings; Lee Kwok Cheong, chief executive officer of National Computer Systems; Lim Chee Onn,
executive chairman of Keppel Corp, and Wong Hung Khim, chairman of DelGro Corp.
The two initiatives were witnessed by Singapore's Senior Minister Lee Kuan Yew and Chinese Vice-Premier
Li Lanqing who are in Suzhou to celebrate seven years of achievements at the SIP. They also toured an
exhibition showcasing the park's milestones.

NYSE firm sweeps S'pore ad space.
By Christopher Tan.
560 words
9 June 2001
STBT
English
15-year deal with govt will rake in revenues of US$500m
(SINGAPORE) International media giant Clear Channel Communications will spend $150 million to upgrade
about 3,000 bus and taxi shelters here, and close to $100 million to maintain them over the next 15 years.
If you're wondering what a communications group is doing in the public transport domain building bus-stops,
read on.
In return for its expenditure - plus $232 million it will pay the government for the right to undertake the project
- Clear Channel will be allowed to sell advertising space at these shelters.
Over the 15-year contract (with an option to extend to 20), the deal is projected to rake in revenue of US$500
million for Clear Channel.
Deducting the cost of the shelters, the maintenance programme and the licensing fee, the company could
reap some $400 million in profit - or $27 million a year.
'With this deal, we have 85 per cent of roadside (advertising) panels,' said Peter Kemeny, managing director
of Capital City Posters (CCP), which formed a 20:80 venture with Clear Channel to land the bus-taxi shelter
contract. CCP is 19 per cent owned by DBS Bank.
That gives the group the widest network of 'street furniture' - an industry jargon for outdoor advertising media
- in Singapore. Which, according to Mr Kemeny, puts it in a good position for growth.
'In the next 15 years, Singapore's population will rise dramatically... businesses are being decentralised, the
amount of travelling will increase,' Mr Kemeny said. 'Last year, outdoor advertising accounted for 5.2 per cent
of all display advertising - double what it was in 1995.'
He said he was aiming for it to eventually hit 8-10 per cent, a level seen in developed markets like Belgium,
France, Switzerland and Japan.
'In the first four months of this year, it has already hit 6.6 per cent,' he said, adding that outdoor advertising
was the fastest-growing medium.
'Ten years ago, 17 of the top 50 firms were in outdoor. Last year, 49 of them were in,' Mr Kemeny said.
Clear Channel has proven its mettle in the outdoor arena.
For instance, it has trebled revenue from the Changi Airport contract to $15 million since clinching it - from
Pearl & Dean - in November 1999.
Worldwide, Clear Channel is one of the largest outdoor ad media groups, with 150,000 bus-stops operated
under the Adshel brand name. But it is much more than outdoor advertising. It is the largest radio ad group,
with over 1,000 stations in the US alone.
Through SFX, it is also into entertainment events, selling something like 62 million tickets a year for sports,
theatre, and other 'live' shows.
Listed on the New York Stock Exchange, it is capitalised at US$37.1 billion (more than SingTel, DBS and SIA
put together) and is projected to post revenue of about US$8 billion this year.
For the first quarter, it reported historical net revenue of US$1.6 billion, up 108 per cent over the first quarter
of 2000, and all-time high Ebitda (earnings before interest, tax, depreciation and amortisation) of US$404
million.

Formed in the 1970s, it is 15 per cent owned by the Mays family, with founder Lowry Mays as chairman.

$2b spinoffs seen from HP's inkjet chip move.
By David Boey.
497 words
9 June 2001
STBT
English
Its new US$100m plant here will be first outside US to produce Jetmos chips
(SINGAPORE) US computer giant Hewlett-Packard Company said yesterday that it would make advanced
inkjet printer microchips outside the United States for the first time at its new US$100 million (S$181 million)
plant in Depot Road.
This move is envisaged to bring significant spin-offs worth $2 billion to the local electronics sector by 2004.
And giving a much-needed fillip to the moribund technology sector is HP's decision to outsource final
assembly of the Jetmos microchips to local firms like mainboard-listed electronics contract manufacturer
Omni Industries Ltd. Apart from Omni, the chip production process at Depot Road relies on support services
provided by more than 40 companies here.
The new wafer plant, dubbed HP Inkjet Wafer Fab II, has some 10,000 square feet of processing space and
is co-located with HP's manufacturing plant at Depot Road. The current plant, a 16,000 sq ft thinfilm wafer
fab, has been upgraded and expanded to support the production of HP's advanced inkjet microchips.
Technology to make the Jetmos chips has been transferred from the US for the first time. As part of the
project, about 40 HP staff were sent for a six-month training stint in the US.
Jetmos chips play a vital role in image printing as they control the ink-firing action in HP inkjet print cartridges.
Such chips are said to pack eight times the printing power of a similar-sized thinfilm microchip.
Speaking at the fab's opening ceremony, Peter Chen, senior minister of state for trade & industry and
education, said: 'HP's decision to invest in an additional wafer fab in Singapore despite the global economic
slowdown reaffirms its confidence in the long-term competitiveness of Singapore.
'The inkjet cartridge operations are expected to generate a value-added of $2 billion to our economy by the
year 2004 when the expansion is completed.'
Jetmos chips will be supplied to HP's printer manufacturing plants in Singapore and other facilities in Ireland
and Puerto Rico.
Greg Merten, vice-president and general manager, imaging and printing supplies operations at HP, said: 'HP
is the market leader with more than 40 per cent of the worldwide inkjet printer market.
'The expansion of our inkjet wafer facilities in Singapore allows us to leverage on the excellent infrastructure,
skilled workforce and the outstanding supporting industries.
'This will further extend our leadership position and maintain the high quality of the products and supplies that
is synonymous with HP inkjet printers.'
Chia Wee Boon, managing director of HP South-east Asia and Singapore, explained the significance of the
new fab to HP's global manufacturing network.
He said: 'This expansion will propel HP Singapore's manufacturing towards higher value-added and
capital-intensive activities, and bring significant spillover effects to local supporting industries.'.

Banks may step up pressure on Daim-linked firms.
By Eddie Toh.
734 words
9 June 2001
STBT
English
WITH one bank having started the ball rolling in recalling a non-performing loan (NPL) to a company
controlled by a protege of Daim Zainuddin, other bankers may pursue similar actions following the resignation
of the finance minister last week, said bankers and analysts. 'His departure does have a bearing. I guess it's
fair to say that related parties will not be as well protected,' the CEO of a commercial bank told BT.
But he added: 'Bankers should not be rash in demanding their loans. We will continue to be reasonable and
professional.' He said the banking sector - comprising 10 local 'anchor' banks and a dozen
locally-incorporated foreign banks in the country - has yet to flex its muscle against firms linked to the
ex-economic tsar.
The comments came in the wake of a move by Bayerische Landesbank Girozentrale threatening to wind up
Land & General (L & G), controlled by Wan Azmi Wan Hamzah, one of Mr Daim's proteges. On Thursday, L
& G said Landesbank demanded US$14.8 million (S$26.8 million) within three weeks. Failure to do so will
result in a winding-up petition against the listed property developer.
Bayerische is expected to carry out its threat as L & G has said it is 'constrained to meet' the demand as it is
in the midst of restructuring its defaulted US$100 million bond issue.
L & G could well be the tip of the iceberg. This is because the list of companies helmed by tycoons seen as
proteges of Mr Daim is long. They include Renong, United Engineers Malaysia (UEM) and Malaysia Airlines
(MAS).
Market watchers say a cloud hangs over the future of these companies following the exit of the former
economic czar. His departure has been speculated to follow a rift between him and Prime Minister Mahathir
Mohamad over a host of issues.
The two leaders are said to be at odds over the first banking merger blueprint in 1999 and Singapore
Telecommunications' failed attempt to enter Malaysia last year. Dr Mahathir was also said to be uneasy with
the apparent favouritism displayed by Mr Daim in the bailout of Tajudin Ramli from MAS and his treatment of
other companies controlled by businessmen seen to be his proteges.
For instance, the latest Far Eastern Economic Review said Dr Mahathir had told certain party members that
he had been 'inadequately briefed' about the airline deal while he 'knew nothing' about the involvement of the
pension funds in the dismal initial public offering of Time dotCom.
Whether the rift is real or not, analysts said the premier had no choice but to accept Mr Daim's resignation.
They said Mr Daim's departure may help remove perceptions of cronyism ahead of the United Malays
National Organisation's meeting later this month and the crucial general election in 2004. Umno is the linchpin
of the Barisan Nasional, the national coalition.
But analysts said it would not be so straightforward to recall loans from some of the indebted companies with
perceived links to Mr Daim. This is because some of them have sought refuge under the national debt
arbitration panel - the Corporate Debt Restructuring Committee (CDRC).
For example, Halim Saad, perhaps the most famous protege of Mr Daim, has restructured the short-term
loans of Renong and UEM under the guidance of the CDRC.
But Mr Halim's stable of companies is still struggling to sell assets as stipulated in the CDRC plan.
Renong's problems will be exacerbated by Dr Mahathir's decree to review Mr Daim's earlier decision to issue
RM6 billion (S$2.9 billion) in bonds to rescue two light rail operators, one of which is owned by Renong.
Similarly, the fate of Technology Resources Industries (TRI) and its cellular phone arm Celcom - both
controlled by Mr Tajudin - is still unclear although creditors had given them a reprieve last year.

Gan Kim Khoon, head of research of Arab-Malaysian Securities, said the CDRC should be allowed to finish
its job of finding amicable solutions for lenders and borrowers. 'It could be a win-win situation if they could
restructure the loans,' he said.
But the sweeping changes in the Malaysian landscape over the last two years have also forced bankers to be
more vigilant in safeguarding their own interests.
Document stbt000020010716dx69003rz

Boost cooperation in Asia - Supachai.
By Anthony Rowley.
520 words
9 June 2001
STBT
English
DIRECTOR-GENERAL-designate of the World Trade Organization (WTO) Supachai Panitchpakdi yesterday
gave a ringing endorsement to the idea of increased regional economic cooperation in Asia, including the
formation of an Asian Monetary Fund.
'The time is ripe for increased East Asian economic cooperation,' declared the former Thai deputy prime
minister, who is due to take over as executive head of the WTO in September.
This comments came during the final day of a two-day forum on 'The Future of Asia' organised in Tokyo by
Japan's Nihon Keizai Shimbun group, at which the idea of building deeper Asian economic cooperation
received strong endorsement from senior politicians and business leaders from around the region. 'We need
more comprehensive arrangements for fully fledged economic coope ration,' said Mr Supachai.
He emphasised that any new cooperative economic arrangements in Asia must be 'consistent with the rules
of the WTO'. But at the same time he promised to work to have the world trade body offer more guidance to
countries embarking on bilateral or regional trade and investment arrangements.
Mr Supachai noted that the menu of possible options open to Asia in building increased cooperation is very
wide, and includes everything from free trade arrangements (FTAs) of the kind that Singapore is negotiating
with Japan and other countries to possible 'common market' structures and regional monetary integration.
Sang-Boo Yoo, chairman and CEO of South Korean steel giant POSCO suggested that Japan, China and
South Korea could form the initial basis of a regional economic grouping, later extending cooperation to
embrace Asean and other areas. He urged that cooperation should start with cooperative arrangements
among sectors of Asian industry, in the same way that the EU grew out of the former European Coal and
Steel Community.
Noordin Sopiee, chairman of Malaysia's Institute of Strategic and International Studies, suggested that the
climate for increased Asian economic cooperation has been transformed since Malaysia suggested the
formation of an East Asian Economic Grouping in the early 1990s, and even since Japan proposed the
formation of an Asian Monetary Fund in 1997. But 'statesmanship and vision' are still needed to turn the idea
into reality, he added.
Malaysian Prime Minister Mahathir Mohamad, who also spoke at the Tokyo conference, repeated his
assertion that proposed bilateral free trade arrangements involving Singapore, Japan and other countries
could enable such countries to use Singapore as a 'back door to enter other Asean markets'. Dr Mahathir
also called for a special 'levy' or tax to be imposed on multinational companies taking advantage of
globalisation, for redistribution to the poor so that the benefits of deregulated markets are not confined to the
business community.
Singapore's second minister for finance, Lim Hng Kiang, countered Dr Mahathir's criticisms of proposed FTA
arrangements. Under the proposed Singapore-Japan accord, any products entering Singapore from Japan
must have a 'local content' of at least 40 per cent (in terms of value added in Singapore) before they can be
sold in other Asean countries, he noted. Singapore will provide no 'back door or Trojan Horse'.
Document stbt000020010716dx69003r2

Singapore and Australia make good progress on FTA talks.
144 words
9 June 2001
STBT
English
SINGAPORE and Australia made significant progress on a wide range of issues in the third round of talks on
a Free Trade Agreement (ASFTA) between the two countries.
The session concluded yesterday with an agreement on a framework that will be the focus of future
negotiations. The next round of talks will be held from July 24 to 27 in Australia. In the meantime, officials
from both sides will continue discussions.
Yesterday's talks came after the second round was adjourned on April 12. During the Asia-Pacific Economic
Cooperation summit in November, Australian Prime Minister John Howard had expressed his interest in
negotiating an FTA with Singapore. If successful, it will be Australia's second, the first being with New
Zealand.
Two-way trade between Singapore and Australia totalled $12.4 billion last year.
Document stbt000020010716dx69003qx

Continued SIP improvements key to drawing more foreigners.
From Loh Hui Yinin Suzhou.
595 words
9 June 2001
STBT
English
SM says decision to invest or expand signals confidence in China's future
THE Suzhou Industrial Park (SIP) will continue to attract investments amid tough competition for investor
dollars if it improves in such areas as investment promotion, urban planning and public administration, Senior
Minister Lee Kuan Yew said here yesterday.
'We hope the management of the industrial park will be such that the private investors will stay on,' he told
China President Jiang Zemin during a meeting which lasted an hour and 45 minutes.
The two leaders also exchanged views on international affairs, thus stretching the meeting which was
originally scheduled for 40 minutes.
Mr Lee said he was pleased with the park's progress, pointing out that it has come a long way in the past
seven years - but he cautioned that the real test would be the response of foreign investors.
'Their decision to invest in SIP or to expand on their existing investments will signal their continued
confidence in SIP and in China's economic future,' he explained.
Likening Suzhou to his adopted home, Mr Lee said people associated SIP with him.
'For the SIP to be prosperous, China has to be prosperous,' he pointed out.
Mr Lee and Mr Jiang led other Chinese and Singapore officials yesterday in celebrating the SIP's seven
years of achievement. They also spoke of how the project had strengthened bilateral ties.
Mr Jiang, who travelled from Beijing to Suzhou to attend the event, described Mr Lee as the pioneer of
Suzhou and said he was 'very happy' to see the Singapore leader at the celebrations.
It was the first time the two leaders have met in Suzhou - and the fact that Mr Jiang attended the event
underscores the priority given to SIP by the Chinese leadership.
Mr Lee said the resolution of SIP's problems had deepened bilateral understanding and both sides now have
a clearer appreciation of what can be achieved with the project.
To resolve problems, the Chinese assumed majority ownership of the park at the beginning of the year,
allowing them to mobilise more support and financial resources for it.
They now have a 65 per cent interest, with Singapore holding the balance of 35 per cent.
The stakes were previously the other way around.
Mr Lee promised that Singapore will continue to train Chinese officials 'so long as the Chinese side finds this
useful'.
In a frank assessment of SIP's earlier difficulties, he said: 'In hindsight, it was unavoidable that so unique a
project would encounter difficulties. It was not easy to balance the basic, long-term objectives of the SIP
against the pressure to achieve quick, visible 'success'.'
Today, the park has 8 sq km of completed development and 193 investment projects worth more than
US$5.1 billion. It provides 25,000 jobs and includes 5,600 homes and a bustling commercial district.
Earthworks are underway to prepare the remaining 62 sq km of land in the project.
Chinese Vice-Premier Li Lanqing, who has personal oversight of SIP, said its next target is to become a zone
of international competitiveness.

Capping off yesterday's SIP celebrations was the unveiling of the Harmony sculpture by Mr Lee and
Vice-Premier Li.
Located on the banks of the scenic Jinji Lake, Harmony is the work of Singaporean sculptor Sun Yuli.
Mr Lee and his delegation leave for Shanghai today where he will meet locally based Singapore
businessmen and hold discussions with Shanghai mayor Xu Kuangdi.
Document stbt000020010716dx69003qw

LETTER - Improve bus information services.
By WONG NIAN JUN.
477 words
8 June 2001
Straits Times
STIMES
English
WITH the millions of dollars in profits generated annually by the bus companies (and the millions more with
the new feeder-fare hike), I hope they will use part of it to improve the information services they are providing
to the public.
There are too many bus stops without directories showing the routes and service details of buses plying
there.
Although excellent route information is available at bus stops in the Central Business District and the city,
such information is almost non-existent at bus stops anywhere else.
If such service details are too expensive to put up, I suggest that every bus stop be equipped with the
TransitLink Guide instead.
The TransitLink Guide costs a mere $1.50, so equipping all the 800-plus bus stops in Singapore with one
guidebook each should not be costly.
Whenever I plan bus trips using the Transit-Link Guide, I always have to use it together with the Singapore
Street Directory.
I hope TransitLink can work with the publisher of the street directory to indicate the location of bus stops in
the latter.
I do not see why this cannot be done as the locations of taxi stands are already marked in the street directory.
This year's edition of the TransitLink Guide was already out of date on Jan 1 as it omitted many services
introduced after the publishing cut-off date of Oct 31 last year.
Since so many new bus services are introduced frequently, I would like to suggest that TransitLink publish
and update its guidebook every six months instead of once a year.
If it is worried about an oversupply of such books in the market, it can simply divide its current annual print
run in two, allocating half for the January edition, and the other half for the July edition.
As the 2001 TransitLink Guide is already out of date, I had to refer to the TransitLink website to get the route
details of new bus services.
However, Line is overdrawn I found the website to be just a glorified version of the paperback guidebook. No
thought had been put into the online version, for example, provision of computerised Line is overdrawn
searches.
As every building in Singapore has its own unique postal code, it would be extremely useful if a search
facility could be provided that would plot the best bus/MRT route between two postal codes.
Unfortunately, this is not the case. Users must still employ the same unwieldy method that they use with the
paperback guidebook in the online system to determine the best mode of travel between two points.
Improvements in this area are definitely in order.
Hopefully, the bus companies will use the new revenues they will be collecting from next month to improve on
this area of customer service.
Document stimes0020010715dx68009rr

LETTER - Hike in feeder-bus fares against public interest.
By NARAYANA NARAYANA.
772 words
8 June 2001
Straits Times
STIMES
English
IT SOUNDS like good news to read that 'proposals by bus and rail companies for an across-the-board hike
have been turned down by the Public Transport Council (PTC), which cited the slowing economy in
Singapore for its decision' ('Feeder fares up 10 cents'; ST, June 6).
However, the slowing economy did not stop it from giving the green light to the 10-cent rise in adult fares on
feeder-bus services.
Seen against the current fares of 45 cents for non-air-conditioned and 50 cents for air-conditioned feeder-bus
services, the increase translates into percentage rises of 22.22 per cent and 20 per cent respectively.
PTC chairman Eric Gwee explains the rationale for the increase as correcting a 'pricing anomaly', adding that
'feeder services utilise the same level of resources. If feeder fares are lower, there is no incentive for
operators to provide better networks and services'.
Going by this line of reasoning, there is in fact not much ground for concessional fares for students, senior
citizens and NSmen, or free travel for children below 1.5 m in height.
It would have been more instructive to tell the public why concessions for feeder-bus fares were introduced in
the first place.
Mr Gwee seems to think that this 'increase in feeder-bus fares to the minimum trunk-fare was to stop
cross-subsidies, where passengers on one route pay more to allow lower fares elsewhere'.
Those compelled to use public transport may not agree with Mr Gwee.
In the Singapore context, 'subsidy' has become a convenient explanation to make the consumer public feel
grateful for beggarly handouts.
I think the rationale for feeder-bus services is to provide an affordable ancillary transport service from bus
interchanges to public-housing estates, since main trunk services do not extend to the labyrinths of such
estates.
In the light of the PTC chairman's defence of the hike, it looks as if the tail is now wagging the dog.
Commuters in Singapore were amply forewarned to expect 'small and regular increases' last year.
This official stand overrules necessity.
Fare increases are thus to be accepted as a necessary way of life, notwithstanding extenuating
circumstances such as the current bleak economic outlook.
Mr Gwee spares no pain in getting across the grim (to commuters anyway) message that 'if we don't increase
fares this time, the next increase will be a bigger jump'.
If there is a sense of deja vu, it is simply because we heard the same words last year.
The public looks forward to a better explanation for the price hike.
This has probably prompted NTUC director Yeo Guat Kwang, who is also an MP for Cheng San GRC, to say,
'what a relief - no overall fare increase!'
Consumers Association of Singapore president Teo Ho Pin appears to be no less enthusiastic about PTC's
rejection of the overall fare hike.

However, judging by the responses of the three commuters in your article, the public finds the hike generally
unacceptable, no matter how insignificant or negligible it is made to appear by those who do not use public
transport.
It is significant that the word 'affordable' appears to have been left out in this debate, unlike a couple of years
back when every rise in prices was 'affordable'.
The Tibs spokesman said: 'We are disappointed that the PTC did not approve our application for a fare
increase.'
For their part, commuters must be equally, if not more, disappointed that the authorities agreed on any
increase at all.
The more so as the public-transport operators presented improved profits, despite enjoying the benefits of
last year's hike for only six months.
In particular, Tibs Holdings' dividends to shareholders was 100 per cent more, while the group's earnings
improved from 4.73 cents to 11.37 cents, or 140.38 per cent.
In an essential public-utility service, is the bottom line really more important than the needs of the public?
Practically all other oligopolies have been broken up, leaving public transport as the sole survivor.
There appears to be every reason now for this bastion to be opened to competition.
For that matter, City Shuttle Service runs parallel to the main operating services at cheaper fares, disproving
at least the fallacy of operational losses.
PTC appears to have lost sight of the wood for the trees.
It does not look as though it has explored other alternatives fully and, in this instance, it would appear that
public interest has been relegated to the background.
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E-swopping sparks new IT wave.
By Oo Gin Lee.
474 words
8 June 2001
Straits Times
STIMES
English
P2P technology, pioneered by Napster, allows Web-enabled PCs to swop resources. Its vast applications
include e-commerce and research
NAPSTER may not survive its current lawsuit by the recording industry, but the online song-swopping
service that turned personal computers into digital jukeboxes has sparked off the next craze in the Internet
community.
It is called peer-to-peer technology (P2P) and, like Napster, many start-ups have subscribed to this
technology that enables every computer connected to the Internet to access and share resources with one
another directly.
A local company, GridNode, has created a P2P software that makes it easier and cheaper for businesses to
conduct e-commerce with each other.
The software enables companies to use personal computers, instead of expensive high-end servers, to carry
out the electronic transactions.
'Our solution can bring the start-up costs down from about US$200,000 to US$2,000,' said Mr Colin Chee,
director and co-founder of the company that already has large enterprises like Seagate Singapore using its
software. US$200,000 is about S$362,000.
Suppliers of goods often need to maintain a sufficient stock in the warehouse to meet buyers' needs. With
GridNode's software, sellers can communicate directly with their customers' computers, to see exactly how
much supplies they need, and stock up accordingly.
This saves time compared to other non-P2P systems, where the suppliers have to request for purchase
orders from buyers continuously.
Other P2P systems include mega-projects like SETI@Home, that sear-ches for extra-terrestrial intelligence,
and advanced file-swopping services like Gnutella and Aimster.
In the SETI@Homeproject, 2.7 million computer users in more than 200 countries have donated the
unutilised processing power of their computers to form a super-computer that analyses radio signals from
space to search for alien life forms.
Another P2P project called FightAids@Homesimilarly pools the processing powers of computers to test drugs
to combat the Aids disease.
Gnutella, a more powerful form of Napster, does not even have a central registry that stores information on
users' songs, making it harder for the recording industry to show that the company is part of the
copyright-infringement process when songs are traded freely by users.
Then there is the Free Haven project, which seeks to store documents online safely by splitting the document
into various parts or 'shares' which are then distributed to a number of different P2P computers.
When a reader wants to retrieve the entire document, he needs to get a virtual key from the author to gather
all the different 'shares' together to form the whole again.
It is still early days yet for P2P, but its immense potential has already captured the imagination of computer
users worldwide.
Document stimes0020010715dx68009re

Suzhou park 'a boon to Jiangsu province'.
By Mary Kwang.
478 words
8 June 2001
Straits Times
STIMES
English
Top provincial official praises SM Lee for his foresight, while the Senior Minister says it has been a learning
experience for both sides
SUZHOU - The China-Singapore Suzhou Industrial Park (SIP) has contributed to both the development of
Suzhou City and Jiangsu province, said Jiangsu's top official, Party Secretary Hui Liangyu yesterday.
He praised Senior Minister Lee Kuan Yew for his foresight in developing the industrial township.
Mr Lee was not only 'an old friend of China' but the people of Jiangsu also had special feelings for the
Singapore leader, he said.
He thanked Mr Lee for his support and efforts in the development of the SIP and reiterated that Chinese
leaders had stressed the importance of making the SIP a success.
With the support of Mr Lee and Chinese President Jiang Zemin, the Park would do well, he added.
The Chinese side had learnt from Singapore's administrators and managers and would continue to manage
the Park according to the reality in China, he said.
He made these remarks last evening during a call by Jiangsu and Suzhou leaders on Mr Lee, who arrived in
Suzhou with a delegation yesterday to attend celebrations to be held today to mark the achievements of the
SIP over the past seven years.
Responding, Mr Lee said that while the past seven years were not trouble-free, they had been a learning
experience for both the Singapore and Chinese sides.
He said that the work in the SIP was never ending and that those involved would 'keep on learning and keep
on improving'.
He thanked former Suzhou Party Secretary Liang Baohua, promoted last year to executive vice-governor of
Jiangsu, for overseeing a smooth transition after a memorandum of understanding was signed in mid-1999 by
Singapore and China to hand over equity and management of China-Singapore Suzhou Industrial Park
Development Co (CSSD), the joint venture formed to develop the 70-sq-km township, from the Singapore
side to the Chinese. The changes took place on Jan 1 this year.
Now that the Chinese side was in the driving seat, he said he was sure they would ensure the success of the
SIP. He hoped that under the incumbent Suzhou Party Secretary Chen Deming, things would go even more
smoothly.
Apart from Mr Hui and Mr Liang, local Chinese leaders who called on Mr Lee last night included Jiangsu
Governor Ji Yunshi, Vice-Governor Wang Rongbin, Suzhou Party Secretary Chen Deming, Mayor Yang
Weizi and Vice-Mayor cum CSSD chief executive officer Wang Jinhua. Mr Lee is scheduled today to meet Mr
Jiang and Vice-Premier Li Lanqing in Suzhou.
The SIP was established in 1994 by the Singapore and Chinese governments, under which Singapore
would transfer its knowhow in economic development and public administration to the Chinese side.
Document stimes0020010715dx68009qz

Singapore 'can be trade bridge to China's west'.
By Lee Seok Hwai.
162 words
8 June 2001
Straits Times
STIMES
English
CHINA'S western provinces are rich in resources but they lack a global market to tap their business
opportunities, says Trade Development Board (TDB) chairman Stephen Lee.
'Singapore can form a useful bridge for them,' he said at a press conference yesterday to introduce a
seminar in Singapore today on business opportunities there.
Although the vast region was not as developed as the coastal cities, they represented a treasure trove waiting
to be developed.
For instance, there were opportunities in infrastructure, manufacturing, tourism and research and
development.
In March last year, China set into motion a plan to develop the country's central and western regions.
However, policy-makers have had to contend with separatists in Xinjiang and a long-standing insurgency
movement in Tibet.
Hence, the stability issue is expected to be an area of concern at the seminar at the Singapore Chinese
Chamber of Commerce and Industry.
Document stimes0020010715dx68009qy

Asia gets call to plug gap in science and technology.
By Kwan Weng Kin.
413 words
8 June 2001
Straits Times
STIMES
English
Globalisation and the availability of talent and money have now made it possible for Asian nations to build up
their own research pools, says expert
TOKYO - Representatives from Singapore, China and Japan have called on Asian nations to boost research
in science and technology through adequate funding and infrastructure so as not to be left behind by the
United States.
The appeal came during an international conference, organised by Japan's leading business paper Nihon
Keizai Shimbun here on Tuesday, on the theme of how Asian 'brains' can break new ground in the 21st
century.
Dr Y.H. Tan, director of the Institute of Molecular and Cell Biology of the National University of Singapore,
said Asians could make their biggest contribution in the field of biomedical sciences.
In a keynote speech, he noted that biomedical research did not require investments as heavy as those for
physics so that even small US universities were able to come up with important discoveries in the field.
Dr Tan also outlined the success of his institute in bringing together Asian talent from various parts of the
world since its establishment in 1987 and turning out leaders in their fields of research.
The barriers to Asians doing research in their own countries, rather than at Western universities, had seemed
'insurmountable' in the 1980s, he said.
But globalisation, the availability of a huge amount of Asian talent and the fact that Asian countries were no
longer poor have now made it possible for these countries to build up their own research pools.
Another keynote speaker, Dr Min Weifang, executive vice-president of Beijing University, warned that East
Asian nations, including Japan, lagged behind North America and Europe in scientific and technological
research.
'To close the gap, Asian countries have to enhance their innovative capacity,' he said.
The North American experience has shown that the development of such capacity relies heavily on
universities.
Dr Min said universities in China were redefining their role in the country's scientific and technological
development.
Professor Tamotsu Aoki of Japan's National Graduate Institute for Policy Studies pointed out that Japanese
universities and some other institutions were still handicapped by poor funding, low salaries and inadequate
research facilities, prompting many scientists to pursue their careers in the West.
He proposed the creation of an institution of advanced research in Asia and a network among Asian
universities to boost research activities.
Document stimes0020010715dx68009qv

Older volunteers set to go overseas.
By Pauline Leong.
438 words
8 June 2001
Straits Times
STIMES
English
More Singaporeans aged 45 years and above are now applying to the Singapore International Foundation to
help out in developing countries
AGE has not deterred some older Singaporeans from going overseas to do volunteer work. For the past two
years, 20 per cent of the applicants for the Singapore International Foundation's (SIF) volunteer overseas
programme are more than 45 years old.
According to volunteer programme director Lee Mui Ngah, the figure is significant, especially when compared
to the negligible numbers of people of that age who did so when the scheme started 10 years ago.
'When we started, the bulk of the applicants were in the 35-to 40-year-old age range,' she added.
'But now, we even have 70-year-olds applying.'
She said: 'Most say they want to do something for others, now that they have more time and are free from
other commitments.
'They say their children are grown up and have finished their studies, and the mortgage is paid up.
'Singaporeans are more well-travelled these days. They understand global issues affecting developing
countries.
'They want, in their own small way, to contribute to the country and, at the same time, experience a different
culture.'
Ms Lee said that these days, people are more willing to endure tough conditions as they are fitter because of
better health care.
The Singapore Volunteers Overseas programme (SVO) is in its 10th year and seeks to provide opportunities
for Singaporeans to contribute their skills to developing countries.
Currently, it is operating in Indonesia, Laos, Myanmar, Vietnam, Cambodia, Nepal, Bhutan and Ghana.
Every year, about 20 people are selected for the scheme. Those chosen have to attend workshops to prepare
them for the assignment, which may last one or two years.
Since the programme started in Laos four years ago, more than 15 Singaporeans have served there as
teachers, midwives and business advisers.
Among them are retired food technologist Sim Kok Hwee, 51, and retired school principal Wong Yim Kuan,
who is in her 50s.
Mr Sim is already in Vientiane, Laos, helping an agency there with the technical production of food. Miss
Wong will join him there on June 25, to teach business English at a technical college for one year.
'I'm curious to learn about another culture and it's a good experience,' said Miss Wong, who headed Yusof
Ishak Secondary School before retiring 1 1/2 years ago.
Since then, she has been teaching housewives English under the Women Learning English programme. She
also teaches line dancing.
She said: 'There is life after retirement.'.
Document stimes0020010715dx68009qj

SPH gives out record 27 scholarships.
157 words
8 June 2001
Straits Times
STIMES
English
LOCAL media conglomerate Singapore Press Holdings (SPH) has given out 27 scholarships, the largest
number it has awarded in a year since it started doing so in 1987.
Twenty-five scholarships were handed out last year, and 22 in 1999.
Mr Tjong Yik Min, group president of SPH, gave out the awards in a ceremony yesterday at News Centre, in
Genting Lane. The 27 will head to various universities in the US, Britain and Singapore to study subjects
ranging from communications and economics to actuarial science and philosophy.
One of them is Ms Farrah Diba Mohamed Tahar, 18, who will be reading chemical engineering at the National
University of Singapore.
She said she would like to write for The Straits Times eventually.
ST's assistant news editor Chua Mui Hoong, who also received a scholarship, will leave for Harvard
University next month to pursue a master's degree in Public Administration.
Document stimes0020010715dx68009qi

Travel agents may cut credit period.
By Koh Boon Pin.
359 words
8 June 2001
Straits Times
STIMES
English
With new move to get them to pay airlines earlier, they will find it hard to extend credit to corporate clients
COMPANIES may find their credit lines with their travel agents shortened as a result of a move to make travel
agents speed up payments to airlines.
From July 1, travel agents will have only one week to pay airlines for the tickets the agencies have issued.
Before, they had two weeks to pay.
The National Association of Travel Agents Singapore (Natas) said this change will make it hard for agents to
extend credit to corporate clients for between 14 and 30 days as they had been doing.
Mr Chung Kek Yoong, who chairs the ticket sales committee in Natas, said: 'The days of getting credit from
anyone are over. Clients will have to understand there will be no more free lunches.'
Natas' 340 members handle about 80 per cent of the travel business here. There are about 600 travel
agents in Singapore.
The change, announced in May last year, was confirmed in a Natas release yesterday. p Natas had initially
criticised the change, saying that while it would reduce the credit risk for airlines, it could leave travel
agencies strapped for cash.
Asked how many agents would be affected, Mr Chung said: 'It's difficult to say. Some will cry... Then again,
this has not come about overnight.
'They will have to make some adjustments and change the way they do business.'
An industry source said: 'A lot of agents have not experienced any default on their payments from corporate
clients when the payment period was two weeks but, now, they feel this may start to happen.'
Agents usually need to have bank guarantees matching their ticket sales before they can be appointed by
airlines to issue tickets.
These guarantees start at a minimum of $50,000 and can run as high as $800,000.
Some airlines, Mr Chung said, were prepared to help travel agents by reducing the bank guarantees required
of agents by 30 to 40 per cent.
'This should make the agents happy,' he said.
Document stimes0020010715dx68009qh

Fined for illegal SCV connection.
By Karen Wong.
388 words
8 June 2001
Straits Times
STIMES
English
IN THE first case of its kind, an electrician has been charged with illegally connecting a residence to the
Singapore Cable Vision (SCV) network.
His handiwork meant that Mr Vincent Goh and his family were able to get crystal-clear television reception at
their Chiltern Drive bungalow, near Serangoon Gardens.
And they did not have to pay SCV almost $6,000 for the connection.
But the family apparently had no idea that the electrician they had contracted to solve their poor-reception
problem in September 1999 had taken it upon himself to tap into the cable network.
The connection did not give the Gohs access to cable TV channels such as CNN, and it is not known if they
had been watching the free-to-air channels via the cable network.
But the illegal connection caused some interference in a neighbour's reception of SCV programmes.
Their complaints led to the electrician being found out in April last year.
On Wednesday, Richard Ong Wei Teong pleaded guilty in a magistrate's court to tampering with a
telecommunications installation, and was fined $4,000.
In a statement of apology, Ong said he regretted making the connection to SCV's network without
authorisation.
He said: 'I have learnt a painful lesson. My fine and legal costs are many times the few hundred dollars which
I earned for cabling this one house.' He also urged other contractors not to commit the same offence.
SCV corporate communications director Vivien Chiong said in a statement that owners of landed homes must
have a connection agreement with SCV before they could be connected to the network.
Only authorised personnel could make the connection.
When The Straits Times spoke to Mr Goh on Wednesday night, he looked surprised that his house had been
connected to the SCV network for more than a year.
The director of a building-products company said he had not known that Ong, whom he had contracted to fix
the antenna, had linked his house to SCV's network.
Yesterday, his son, Mr Frank Goh, who helps him in the business, said that after he found out that his home
was connected, he tried to see if he could receive SCV channels on his TV. 'To my dismay, I couldn't,' he
said.
Document stimes0020010715dx68009qe

Singaporeans shun 'unsafe' destinations.
By Li Xueying.
471 words
8 June 2001
Straits Times
STIMES
English
Travel agents give bleak picture facing Indonesia and Philippines
REGIONAL hotspots, such as Indonesia and the Philippines, are not seeing many holidaymakers from
Singapore, who now view these countries as 'unsafe', said travel agencies.
The decline has also hit other popular destinations such as Nepal, following the recent unrest sparked by the
massacre of the royal family there.
Even Indonesian tourist havens, such as Bintan and Bali, have not been spared, although some
Singaporeans are still going there.
'There are very, very few people who want to go to these countries now,' said Mr Winson Puah, director of
Averest Travel.
'You can count the number of people who came in to ask about Indonesia. I used to get hundreds each
week.'
Not even low prices are luring Singaporeans to countries which are perceive to be dangerous.
Mr Badruzzaman Abdul Majid, director of Sediausaha Travels, which was a major player in the Indonesian
market, said: 'Singapore is very safe, so why would Singaporeans want to go to such places?'
He said that, since the news of the threatened impeachment of President Abdurrahman Wahid, 30 to 40 per
cent of reservations, which were scanty to begin with, had been cancelled.
Now, 'only businessmen who have no choice' come to his office, he added.
Indonesia was a popular tourist destination before the violent riots in 1998, which led to President Suharto's
downfall.
But the latest crisis has exacerbated Singaporeans' fears about safety.
Now, many of the agencies have stopped selling packages to the country.
Mr Randy Cheng, 37, director of operations for Linus Travel, said: 'This is not about money. We don't
promote it because we don't feel that it's secure.'
Bookings for the Philippines have also been cancelled in the wake of recent reports about the kidnap of
Singaporean businessmen in the country.
Mr Brenden Leong, 48, managing director of TravelPartner, noted that only maids travelling home were
making reservations.
As June coincides with the monsoon season in Nepal, few tourists were making plans to travel there.
But an agency which had planned a tour package to the country later this month, has seen a third of the
bookings cancelled.
'They were afraid of what might happen,' said Mr Sebastian Lee, 40, tour manager of C & E Holidays.
Even the National Association of Travel Agents, Singapore (Natas) may put off a meeting with travel
agencies in Nepal.
Said Mr Lee Liat Cheng, president of Natas: 'Everyone is still shocked at what happened and we're not sure if
we are allowed to go. We'll have to wait another week and see.'
Singaporeans are heading for Thailand's beach resorts instead.
Mr C.S. Chew, 44, director of Wingo Travel said: 'Thailand is benefiting the most from these regional
problems now.'.
Document stimes0020010715dx68009kg

Prospects good for new round of WTO talks soon.
By Mary Kwang.
433 words
8 June 2001
Straits Times
STIMES
English
BG Yeo says he believes there is a 60-40 chance that a new round of trade talks will be launched this year
SHANGHAI - Prospects are looking up for the launch of a new round of World Trade Organisation (WTO)
talks soon as countries are converging on a consensus to start the global trade negotiations, according to
Singapore's Minister for Trade and Industry.
Brig-General (NS) George Yeo said that at the beginning of the year, he had thought that there was a 40-60
chance that the new round would be launched this year.
'Two months ago, I would have put it 50-50. I put it now at 60-40.'
Speaking to the Singapore media, he said: 'The key is political will and we're seeing now a common
momentum pointing political will in a common direction.'
BG Yeo was in Shanghai for a two-day conference of trade ministers of the 21-member Asia Pacific
Economic Cooperation (Apec) forum which ended yesterday.
He said that the most important achievement of the meeting was a strong call for the launch of a new round
of WTO talks that would promote more trade liberalisation.
China, even though it is not a WTO member, expressed strong support for the move, a point reiterated by
Chinese Foreign Trade Minister Shi Guangsheng at a press conference at the end of the meeting yesterday.
BG Yeo said that China's support was very significant as China was seen as an example by other developing
countries to join the global trading system, liberalise their economy and achieve high growth rates.
He explained that an attempt to do so in Seattle in 1999 had failed because 'there was a sense that a new
round would inevitably be launched and because there was that confidence, people took liberties and refused
to budge and what was thought to be inevitable did not happen'.
He added that another reason Seattle failed was that there had been too much pre-negotiation.
'This time round, partly because of the failure of Seattle and partly because of a common desire to avoid
another failure, people are more cautious and more realistic,' he said.
He added that the agenda in Qatar had to be more general than had been the case in Seattle.
The Apec trade ministers ended their meeting with a statement expressing support for the launch of a new
round of WTO talks in Qatar in November and for China's accession to the global trade body within this year.
Document stimes0020010715dx68009kf

Bush less likely to get power for trade deals.
By Lee Siew Hua.
524 words
8 June 2001
Straits Times
STIMES
English
Bill to empower the US President being held up by Democrats, who want labour and environmental
provisions in it
WASHINGTON - The outlook has dimmed for a Bill that will give US President George W. Bush the power to
negotiate new trade deals, now that the Democrats control the Senate.
The Democrats want to entwine this Bill with labour and environmental provisions, which are opposed by
developing Asian countries.
But Senator Max Baucus, the new Democrat chairman of the Senate Finance Committee, said a compromise
would be worked out to give President Bush fast-track authority to conclude bilateral trade deals with
'like-minded' nations like Singapore, Chile and South Korea.
Two years ago, the senator introduced legislation to authorise free-trade agreements with all three nations.
Referring to Singapore and other open markets, he told the International Trade Commission on May 17: 'If
we cannot agree on a global fast-track Bill, then we should institute fast-track authority for specific countries
where we have strategic commercial and political interests.'
On Tuesday, Senator Baucus, a Montana Democrat, told reporters that the 'trade-promotion authority' that Mr
Bush seeks might be held up till next year.
He would push for its passage in Congress this year, he said, but added: 'It may slip to next year.'
His spokesman added that the senator supports the legislation, but he wants labour and environmental
concerns to be addressed in future trade deals.
Clearly, the Democrats will pressure Mr Bush to accept a compromise on these concerns, which are the core
issues of the labour and environmental groups that support the Democrats.
One serious implication of a delayed trade-promotion Bill is that the efforts to launch a new global trade round
might be hobbled.
Without this legislation, US officials would go to the November meeting of the World Trade Organisation in
Qatar without the power to conclude major trade deals.
Other implications, according to the US business community, are that the country could lose access to
markets since other nations are reluctant to strike deals with the administration, only to have the US
Congress insist on unrelated amendments.
The US Chamber of Commerce's president, Mr Thomas Donahue, told the House Ways and Means
Committee in March that swift congressional action was needed on the Bill, saying: 'This country must
re-engage global markets - this country cannot afford to sit on the sidelines while our competitors are busy
cutting deals with one another.'
For instance, there are more than 130 regional free-trade agreements in force globally. The US is party to just
two.
Trade-promotion authority will give the US President the power to negotiate trade deals, which will be
presented to Congress for voting. Congress cannot pile on amendments.
Later this month, Congressman Phil Crane, chairman of the House Ways and Means Committee, will
introduce a Bill to give Mr Bush the trade-promotion authority.

Republican Senator Charles Grassley, the Senate Finance Committee chairman until the Democrats took
power this week, had intended to introduce a similar Bill in the Senate this month.
Document stimes0020010715dx68009k4

PM Goh to meet Bush.
171 words
8 June 2001
Straits Times
STIMES
English
PRIME Minister Goh Chok Tong will meet US President George W. Bush and his top Cabinet members
during a six-day visit to Washington DC, starting tomorrow.
He will be the first South-east Asian leader to meet Mr Bush since the latter became President.
He will also hold separate meetings with Vice-President Dick Cheney, Secretary of State Colin Powell,
Secretary of Treasury Paul O'Neill, Defence Secretary Donald Rumsfeld, Commerce Secretary Donald
Evans, National Security Adviser Condoleezza Rice and leading Congress members.
Foreign Minister S. Jayakumar, Trade and Industry Minister George Yeo and senior officials will accompany
Mr Goh, who will address the US-Asean Business Council there. He is expected to speak on the importance
of US engagement in the region.
He will hold talks with members of the US Chamber of Commerce board of directors.
The visit ends on June 14. Mr Goh returns to Singapore on June 18. Until then, Deputy Prime Minister Lee
Hsien Loong will act as Prime Minister.
Document stimes0020010715dx68009jv

Bag Boy finds niche for its products.
By Ven Sreenivasan.
241 words
8 June 2001
STBT
English
THE Bag Boy Company had its humble beginnings in 1946 in Portland, Oregon, as a division of Browning. Its
claim to fame was its incredibly durable die-cast aluminium golf carts (which golfers here call trolleys) for
golfers who walked the course in those days. Today, these post-war carts are collectors' items.
Over the next 50 years, the company made a name for itself producing carts and accessories of unmatched
quality and durability. In 1993, The Bag Boy Company was sold to a successful businessman who relocated
it to Richmond, Virginia, where it became a division of The Ben Hogan Company. But the Hogan years were
tough for the company, which struggled to define its niche in an increasingly competitive market for golf
products. Cheap imports, especially from the Far East, ate deeply into its traditional market. When The Ben
Hogan Company was sold to Spalding at the end of 1997, a small group of managers and employees
decided to hold on to Bag Boy and run it separately as a stand-alone company.
The decision proved a turning point for the company, whose sales has doubled along with the rapid
expansion of its product line.
Bag Boy products are now available in Singapore, courtesy of Winston's Golf which recently clinched the
sole distributorship for the franchise. Here, we feature some of the products currently available at Winston's.
Document stbt000020010716dx68003rx

IPOs, property shine again as China stocks lose lustre.
By R Sivanithy.
620 words
8 June 2001
STBT
English
CONSISTENCY is the name of the game yesterday as new listings continued to shine while China-linked
stocks retreated further. Also seeing further rise were property counters.
Consistency of performance also extended to the Straits Times Index, which rose sharply at first, then settled
back for a net gain of 4.64 points at 1,683.7. This is a pattern that has been evident since the start of the
week, and very much in keeping with the direction of Wall Street.
The only inconsistency yesterday was a pullback in Singapore Telecom, after the counter had done pretty
well earlier in the week.
Overall, it was a fairly weak session in which there were 109 rises against 177 falls - an outcome that wasn't
surprising given the lack of direction from the US, the dearth of market-moving news on which to trade and
the still-uncertain economic outlook.
Still, traders did well to generate further momentum in the previously dormant property segment, while the
overwhelmingly good performance of new listings last week ensured that those that debuted this week
followed suit.
The property play - which saw CapitaLand rise seven cents to $2.51 and City Developments gain 35 cents to
$7.20 - was supposedly because of the cutback in government land sales.
However, canny dealers spoke of other more likely reasons.
'The sector has been dead for so long that the land sales news gives traders an excuse to play it up,' said
one.
'It's simple momentum trading in a market that's always on the lookout for new ideas,' the dealer added.
One of the most popular trading themes this past week has been new listings, partly because many have
been reasonably priced and also because Surface Mount Technology, which listed last week, almost doubled
on its first day of trading.
Lately these counters have tended to perform well on their debut, followed by weakness on their second day -
and this is exactly what happened yesterday.
Latest entrant AP Oil closed at a 53 per cent first-day premium but Colorland Animation - Wednesday's
debutant, which posted a 65 per cent first-day premium - pulled back 3.5 cents to 29.5 cents yesterday.
'It's a very fast game, this,' remarked a dealer. 'You've to get in and out quickly because the traders are
constantly switching.'
Meanwhile, China-related plays were consistently bad, led by Tianjin Zhong Xin - a counter that more than
tripled in three weeks, but has now collapsed 30 per cent in three days.
The stock lost six US cents to 69 US cents yesterday on a volume of 52 million units. Anecdotal evidence is
that scrip lenders have no more Tianjin Zhong Xin shares to lend - an indication that short-sellers have been
having a field day with this counter.
Conversely, however, it could also mean that these players could face a short squeeze if and when the stock
rebounds.
The rebound in Singapore Telecommunications shares brought on by weekend news that chief executive
Lee Hsien Yang had bought its shares proved short-lived as the counter dropped four cents to $1.83 on a
volume of 11.1 million units.

Also weak was Neptune Orient Lines, a stock that was strong before NOL announced that it will list a
subsidiary on Wall Street, but has fallen sharply since the announcement.
Neptune Orient lost five cents to $1.49 yesterday on a volume of 9.5 million shares.
Excluding foreign currency issues, 431.3 million units worth $426.2 million were totally traded, down from
$485 million done on Wednesday.
Non-Sing dollar counters added 69.3 million units.
Document stbt000020010716dx68003rq

Going protectionist to advance free trade?
From Leon Hadar
1,075 words
8 June 2001
STBT
English
In Washington
The Bushies' tough stand on steel imports seems aimed at extracting 'fast-track authority' from Congress to
win the overall international trade offensive
LAST week, in a major address before the World Affairs Council in Los Angeles, President George W Bush
presented a very ambitious programme to liberalise global trade and promised that Washington would play a
leadership role in the process.
But this week it was Bush himself who seemed to be proposing an ambitious plan to protect one major US
sector - the steel industry - from global competition, asking that the International Trade Commission (ITC)
rule that steel imports are threatening the US industry and allow him to impose quotas on them.
The US move could indicate that American leaders lack the political will to advance at home the free-trade
principles that they are preaching to the rest of the world. That is certainly the way it looks on the surface. But
it would be a mistake to consider this week's announcement by the Bush administration that it was planning
to take steps towards imposing broad restrictions on imported steel as the first shots in a protectionist war
launched by the White House.
There is no doubt that Bush's initiative to protect from global competition the bruised steel industry, which
has experienced a growing number of job losses and bankruptcies this year, does go beyond some of the
protections that the Clinton administration applied in response to demands from the steel industry and
unions suffering from a worldwide glut.
It obviously raises some doubts about the commitment by the new Republican administration to free-trade
principles which the president stated last week in the LA address.
But, if anything, the Bush administration's backing for the protectionist notion of 'fair trade' and its application
to the steel industry demonstrates that the pro-business Republican White House is as vulnerable as its
pro-labour Democratic predecessor to the political pressures coming from the direction of powerful interest
groups.
Some analysts are even arguing that the Bushies seem to be more sensitive to the concerns of Old
Economy sectors, like steel and oil, than the Clintonites, who had strong ties to New Economy sectors like
financial services and the media industry.
Indeed, the sight of Commerce Secretary Donald Evans addressing this week a rally organised by the United
Steelworkers of America, in which he stressed the efforts by the Bush administration to be with the US steel
industry 'every step of the way' in its resistance of 'unfair' foreign competition highlights the political stakes
involved here.
'The president has heard you,' said Evans. 'He listened to you during the campaign and he is listening to you
now.'
Bush and his advisers are, indeed, 'listening' to the steelmakers and their unions, who belong to an industry
where products have fallen to their lowest output levels in 20 years.
The plight of the steel industry and unions has ignited much sympathy among both Democratic and
Republican lawmakers on Capitol Hill. Moreover, industry and the unions exert political influence in several
states, including West Virginia, a Democratic-leaning state that Bush won in last year's presidential election,
and two important 'swinging' states, Ohio (where Bush won) and Pennsylvania (where Bush lost).

Certainly, the White House's action, which could result in higher tariffs on foreign-made steel, is bound to
raise tensions with America's trading partners, as demonstrated by the angry reactions by Japan, China,
Taiwan and the European Union.
Australia, Indonesia, Brazil and Russia, countries that have been pressed by Washington to open their
markets to foreign trade, will also be affected by the decision. Some critics at home and abroad will probably
argue that the proposal Bush raised this week to induce other steelmaking countries to agree on production
cuts is trying to establish a loose cartel of international steel producers - the 'Opec of Steel', which,
interestingly enough, seems to be in line with the Bushies' efforts to strengthen US ties with Opec.
'This is bad news,' said Pascal Lamy, the top trade negotiator for the EU. 'The cost of restructuring in the US
steel industry should not be shifted onto the rest of the world.' The US move was also criticised by Japanese
Economy, Trade and Industry Minister Takeo Hiranuma, who argued that the US steel industry 'is suffering
a deteriorating earnings performance because it is less competitive'.
Taiwan's steel industry, which is battling falling global and domestic demand, could be hurt by the American
curbs. And some analysts are speculating that imposing restrictions on steel imports could exacerbate
Sino-American trade tensions and force China to retaliate against US imports.
But according to private comments made by Bush administration trade officials, the moves to protect the US
steel industry, including filing a trade case aimed at curbing steel imports, is part of a strategy to shore up
support in Congress for Bush's ambitious trade agenda - and, in particular, getting the US lawmakers to grant
him the 'trade promotion authority' (TPA), also known as 'fast-track authority', that would allow him to
conclude bilateral trade accords with several countries, including Singapore, to establish a hemispheric
free-trade zone and to launch a new round of global trade negotiations.
In short, the Bush administration - that is at least the spin the White House is advancing this week - seems to
be willing to make a retreat on one trade front, and engage in limited protectionism, so as to help it win the
overall trade offensive. The Bushies are arguing that by projecting a tough posture in trying to protect a
strategic US industry, they have a better chance of winning the support of lawmakers with ties to the labour
unions, who have been resisting the White House's request for TPA. Many of these lawmakers are
conditioning their support for TPA on a commitment on the part of the White House to protect labour rights
and environmental rules in future trade accords.
The White House and many Republicans oppose the idea, but US Trade Representative Robert Zoellick is
hoping that Congress and the administration will be able to reach a compromise that will include a 'package
deal' on various trade, labour and environmental issues.
Hence, this week's commitment to protect the steel industry could be seen as part of that entire package.
The writer is BT's Washington correspondent.
Document stbt000020010716dx68003rp

Growth likely to pick up in Q4 - DBS.
By Eugene Low.
400 words
8 June 2001
STBT
English
DESPITE the slowdown in economic growth continuing in the second and third quarters, a pick-up at the end
of the year is still achievable, says DBS Bank. But it reckons the turnaround will be weak, with fourth-quarter
expansion estimated around 3.5 per cent year-on-year - still lower than Q1's 4.5 per cent.
Growth is expected to dip to 2 per cent in the second quarter and 1.8 per cent in the third, with the full-year
figure projected to be around 3 per cent, the bank says. While recent news about the economy has been
gloomy, DBS notes some indicators give grounds for optimism.
For one, the slower decline in the government's composite leading indicator during Q1 should provide some
comfort. Also, lower inventories and strong investment commitments in manufacturing will facilitate recovery.
'As (these investments) come on stream over a one to three year time frame, underlying manufacturing
activity will find some support, like biomedical output partly offsetting the current drop in electronics output.'
At the same time, DBS notes that the construction sector is no longer a drag on the domestic economy. 'In
fact, this last sick man of the economy from the Asian financial crisis should start contributing to economic
growth from the second quarter.' But the industry's small size means it will not be able to compensate for the
general slowdown in the second and third quarters.
Although signs of a turnaround in electronics are still skimpy, inventories have been quickly run down and the
industry is dealing with emerging technologies with good growth potential. 'Our forecast for a second-half
pick-up in the US economy should benefit US new electronics orders and Singapore exports by year-end.'
Another positive sign for the economy is there is still scope for flexibility in economic management.
Despite a weaker Singapore dollar, consumer inflation was subdued from January to April, DBS notes. This
gives the Monetary Authority of Singapore - which has a policy of keeping imported inflation at bay -
breathing space to allow some weakness in the Singapore dollar to boost exports. Furthermore, the tax cuts
announced in the recent Budget are expected to lift economic growth by 0.2 of a percentage point this year
and by 0.4 of a percentage point in 2002, DBS adds.
Document stbt000020010716dx68003rn

News Roundup.
141 words
8 June 2001
STBT
English
Bonsey Design wins award
BRANDING and design consultancy The Bonsey Design Partnership was named British Chamber Small &
Medium-sized Enterprise (SME) of the Year yesterday in an award organised by the British Chamber of
Commerce Singapore and sponsored by Rolls-Royce. The award aims to recognise the contribution made to
the Singapore economy by small and medium British-linked businesses. The firm was established here in
1993.
Bax Global conferred BHQ status
US-BASED BAX Global was conferred the Business Headquarters (BHQ) award by the Economic
Development Board yesterday. The company is a multi-modal transportation and supply chain solutions
provider with more than 500 offices in over 120 countries. Established in Singapore in 1986, the company
has grown to an organisation of more than 700 employees and has over 600,000 sq ft of logistic facilities
here.
Document stbt000020010716dx68003rm

Stella Chemifa invests $47m in S'pore plant.
By Trina Foo.
288 words
8 June 2001
STBT
English
STELLA Chemifa Singapore will build a $47 million plant on Jurong Island, which is said to be the first to
produce pure hydrofluoric acid here.
The plant will be ready by August next year, and will employ about 30 people. It is expected to produce
20,000 tonnes of pure hydrofluoric acid and buffered hydrogen fluoride annually. Annual sales turnover is set
at $29 million.
Managing director Jun Takano said the Singapore plant would enable the company to gain a stronger
foothold in fluorine compounds manufacture. It will cater to the semiconductor and liquid crystal industries of
South-east Asia, China and Europe. Fluorine compounds are used to process silicon wafer in making
semiconductor chips. They are also used in lithium-ion batteries and liquid crystals in the electronics sector.
Stella Chemifa Singapore is a wholly-owned subsidiary of Japanese manufacturer Stella Chemifa

Corporation, and the Jurong Island plant is its only one outside Japan. The group has two factories in Osaka,
and a joint venture in Korea. Last year, it recorded sales of $212 million, and expects to hit $237 million this
year.
Mr Takano said Singapore was an ideal location because of the good infrastructure and strong support from
the Economic Development Board (EDB) and JTC Corp, adding that the plant's strategic position would
shorten its supply chains to principal markets.
On plans to develop Jurong Island into a chemical hub, Tan Suan Swee, director of chemicals at EDB, said:
'Stella Chemifa's project brings a new dimension of growth to our industry development on Jurong Island... it
will enable us to develop a new chemistry chain, adding diversity and resilience to our industry.'.
Document stbt000020010716dx68003rl

Jiang to meet SM Lee today.
From Loh Hui Yin.
580 words
8 June 2001
STBT
English
Leaders to witness signing of 2 fresh agreements in Suzhou
SENIOR Minister Lee Kuan Yew arrived here last night to attend celebrations highlighting seven years of
achievements at the Suzhou Industrial Park (SIP), a project which symbolises the friendship between China
and Singapore.
And in a gesture that underscores the importance top Chinese leadership attaches to it, President Jiang
Zemin has travelled from Beijing to Suzhou to meet Mr Lee today.
Jiangsu province party secretary Hui Liangyu said the leaders in Beijing had instructed them to ensure that
the SIP would be a success.
'The park's development has not only contributed to Suzhou but also to the whole of Jiangsu. We feel very
close to you. The people of Jiangsu have a special feeling for you,' said Mr Hui when he and other Jiangsu
and Suzhou officials paid a courtesy call on Mr Lee shortly after his arrival here.
Mr Lee, who updates himself on the park's progress through regular visits and reports, said: 'We have worked
together for seven years and the result is there for everyone to see. It is time to review what has been done
but equally, it's time to look forward to the future. This work is never-ending. We must keep on improving.'
Referring to the difficulties faced by the SIP, the senior minister said: 'I can't say it was trouble-free for the last
seven years but it was a learning experience for both sides. We undertook something more onerous than we
thought we were doing.
'So I'm very pleased to be able to come here to mark the completion of seven years.'
The problems arose when the local government here did not share Beijing's long-term objectives of learning
from Singapore's experience in 'software' such as public administration, town planning and the legal
framework.
Also, as minority shareholders, the Chinese had little incentive to mobilise support and financial resources to
pay for infrastructure to get the SIP off the ground in order to attract foreign investors.
However, the problems were resolved when ownership was switched around following an agreement in June
1999. From Jan 1 this year, the Chinese became majority shareholders, holding a 65 per stake. The
Singapore partners own the remainder.
On the change of majority ownership, Mr Lee noted: 'Before, we were in the driver's seat and that worried us
because we have to make it succeed. Now, with the Suzhou side in the driver's side, they are also worried if
they will succeed.'
The SIP, he said, would succeed if the two sides worked together.
Meawhile, the Chinese and Singapore leaders will witness the signing of two agreements which will enhance
bilateral ties.
One of them is the Friendship Agreement between SIP and JTC Corporation whose chairman Lim Neo Chian
was the previous SIP chief executive officer.
The other agreement is to establish the SIP International Advisory Panel, a committee aimed at plugging the
park into global trends. A handful of prominent Singapore businessmen and foreign investors from the SIP
will sit on the panel.
Current SIP CEO Wang Jinhua, who is also a vice-mayor of Suzhou, was among the Chinese government
officials who met Mr Lee last night.
The others were Jiangsu governor Ji Yunshi and Jiangsu National People's Congress chairman Chen
Huanyou. Suzhou was represented by its mayor Yang Weize and party secretary Chen Deming.
Document stbt000020010716dx68003rk

KepFels puts in bid for S'pore's 5th incineration plant.
By Serena Ng.
515 words
8 June 2001
STBT
English
Rival SembCorp opting for an existing plant when privatisation takes place in 2005
KEPPEL Fels Energy & Infrastructure Ltd has put in a bid to build, own and operate the fifth incineration plant
in Singapore, while main rival SembCorp Industries has decided to stay out of the running as it expects the
growth rate of refuse to slow.
Instead, SembCorp will be bidding for one of the four incineration plants when the government privatises
them in 2005, SembCorp Waste Management president Low Wai Kiew told BT.
But some market watchers speculated that SembCorp's change of heart might be linked to its difficulties in
raising more working capital over the past few months.
A new plant might cost up to $900 million, judging from the cost of the fourth incineration plant at Tuas South
which opened last year, which can burn 3,000 tonnes of waste daily.
The tender for the licence to design, build, own and operate the fifth refuse incineration plant closed
yesterday, and the Ministry of Environment (ENV) said tenders were submitted by Mitsubishi Corp and
Keppel Infrastructure, but added that Mitsubishi Corp did not quote.
'ENV is currently evaluating Keppel Infrastructure's offer,' it said in a statement.
The tender for the fifth plant is part of the ENV's plan to privatise the refuse incineration industry. Its four
existing plants are expected to be privatised in 2005.
KepFels said yesterday that the proposed incinerator would have a total capacity of 3,000 tonnes daily, to be
built in two phases of 1,500 tonnes per day each. The first phase is expected to be operational by Jan 1,
2006.
It also said it had raised a US$250 million five-year unsecured transferable loan facility, arranged by OCBC
Bank, to ready itself for this and its earlier pre-qualification bid to build and operate a desalination plant here.
Of the loan facility, around US$120 million would be used to refinance a convertible bond issue that had
recently expired, and the remaining US$130 million would be used to fund the two projects if their bids were
successful, or it could be used for other projects.
SembCorp had earlier said it was interested in bidding for the new plant, but Ms Low said yesterday she felt
there was already excess capacity in the existing four incineration plants.
'When these are privatised, private operators will be able to increase their capacity by 15 per cent,' she said.
Furthermore, the company had conducted a study which suggested that growth of incinerable waste over the
next five years is likely to slow and plateau.
'Because of recycling and the government's waste minimisation programme, we think the growth for refuse
disposal is likely to be on a downward trend over the next 10 years,' she added.
Separately, a Bloomberg report yesterday said KepFels was contemplating teaming up with partners to build
a power plant that might cost up to $300 million, and is doing a feasibility study on this.
Document stbt000020010716dx68003rg

Optus security issues can be resolved - SingTel.
By Teh Hooi Ling.
315 words
8 June 2001
STBT
English
SINGAPORE Telecommunications says it is confident it will resolve security issues raised in Australia in
relation to its proposed takeover of Cable and Wireless Optus.
After reports that an Australian broadcaster, the Seven Network, is opposing the takeover, SingTel said
yesterday: 'We have held detailed discussions with the relevant government agencies in Australia and are
confident that we can put in place arrangements which meet the issues that have been raised.'
SingTel said its has submitted an application to the Australian Foreign Investment Review Board (FIRB) on its
proposed purchase of Optus.
At the same time, the Seven Network has lodged an objection with FIRB. In a statement, Seven says it has
'grave concerns' about the implications of SingTel's bid, 'which, if accepted, would see the takeover of a
significant Australian asset by a foreign company, effectively controlled by a foreign government'.
Although Seven's main business is its free-to-air broadcast operations, the company provides a television
channel, C7, on the Optus pay television service. Seven also owns 80 per cent of B Digital, a mobile phone
concern that resells the Optus network.
'The strategic importance of Cable & Wireless Optus' infrastructure - including its broadband cable and
satellite assets - and the company's four million customers, requires FIRB to fully scrutinise the impact of any
takeover, in particular one by a company which is essentially owned by a foreign government,' Seven says.
The Singapore government owns 78 per cent of SingTel but its holding is expected to shrink to less than 70
per cent after the Optus acquisition.
Seven says the takeover would undermine the integrity of 'our communications infrastructure', the promotion
of competition and delivery of services. Seven adds that it believes foreign government control of strategic
assets 'may breach Australian government obligations on safeguarding and protecting our national interests'.
Document stbt000020010716dx68003re
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Text Singapore and (econom* or busin* or industr* or *employ* or inflation or productivit*)

Date 01/06/2001 to 30/06/2001
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Timestamp 12 May 2016 19:07

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Singapore's team of top FTA negotiators is in full swing.

By Yang Razali Kassim.

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Here are its main points:

Bundle of joy keeps me going

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A smile from him makes everything okay

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Once patent is granted, protection starts from the date of filing.

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(c) 2001 Singapore Press Holdings Limited.

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Their discussions also covered international issues including Sino-US relations.

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MediaStream executives could not be reached to elaborate on their plan.

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The idea of the managed band system is not something extraordinary.

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'I agree with you,' said Mr Li.

The Singapore delegation leaves for home today.

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WASHINGTON - Singaporeans seem to remember the Michael Fay episode clearly.

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On a wider context, she is struck by the bright attitude towards ageing.

'Here they are about to start a second career.'

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More than 1,000 Singapore-based OFWs turned up for the celebrations.

'And unfortunately, Manila is not a transit point,' he said.

He was referring to Philippine Tourism Secretary Richard Gordon.

Mr Zapanta hopes to list Asia's oldest airline in three years.

'In 10 years, we hope to be among the region's bigger airlines,' he said.

Page 28 of 162 © 2016 Factiva, Inc. All rights reserved.

The other websites get around 100 to about 5,000 hits.

SOME POLITICAL WEBSITES

PEOPLE'S Action Party - www.pap.org.sg and www.youngpap.org.sg

Page 29 of 162 © 2016 Factiva, Inc. All rights reserved.

The National Solidarity Party - www.nsp.org.sg

Singapore Window - www.singapore-window.org

Think Centre - www.thinkcentre.org

Singaporeans For Democracy - www.gn.apc.org/sfd

The site includes sections on politics, economics and technology.

Page 30 of 162 © 2016 Factiva, Inc. All rights reserved.

The group runs several clinics and a medical centre.

The High Court will hear the petition on Friday.

They include Dr Beng, the managing director, and his wife.

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Mr Goh's six-day visit to Washington DC began on Saturday.

He added: 'The US is not as well-informed as it should be on Asia. Singapore is as well-informed as any

The visit is expected to cover many issues.

Page 32 of 162 © 2016 Factiva, Inc. All rights reserved.