Call to account; hefty losses will change Singapore Inc

Article Abstract:

The financial records of Singapore Technologies Holdings (STH) are being investigated by an accounting team to trace the reasons for its heavy losses in 1991. STH and its subsidiaries lost US$245 million in high-risk technological ventures. The impact of the poor performance of STH will result in close monitoring of all government corporations and a revamp of corporate rules and guidelines. The losses appear to have been caused by investments in untested hardware quickly overtaken by other technological discoveries. The investments were further handled by inexperienced managers and were wrongly depreciated.

Finance, Investigations, Government business enterprises, Public enterprises, Singapore Technologies Holdings

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Banking by concession

Article Abstract:

Singapore's offshore banking sector began as a result of the increased dollar earnings of Indonesia's and Malaysia's petroleum industries. Bankers wanted to keep the dollars in Singapore instead of investing in the Eurodollar market. The offshore banking industry has many incentives, but government regulations do not permit Singapore to become a tax haven. The offshore industry is mainly involved in volume trading or institutional financing.

Foreign banks

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Driving force: demand for PC parts lifts Singapore growth

Article Abstract:

Increased demand for personal computer (PC) parts has significantly contributed to the growth of Singapore's economy. Electronics remains the largest component of Singapore's manufacturing sector, which in turn represents 29% of the country's GDP. Continuing demand for PC parts is expected until 1995 with the global price waramong PC manufacturers and the resulting increase in total sales volume.

Electronic Components and Accessories, Computer storage devices, Industry Overview, Economic aspects, Electronic components industry, Computer storage device industry

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