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The WEATHER on SATURDAY: Mainly fair in the morning. Showers with thunder over many areas in the early afternoon.   WEATHER OUTLOOK: SUNDAY: Early afternoon showers with thunder can be expected.   WATER TIDES (this month)  High tide 12.26pm  2.6m   11.16pm   3.1m    SUN Sunrise  7.06am  Sunset 7.17pm   MOON  Moonrise  7.21am   Moonset   7.55pm    PSI: 48 (good)   TEMPERATURE: 25-33  degrees Celsius (The weather is updated daily before 8am Singapore time) For more information, call Meteorological Service Singapore Tel: (65) 542 7788.

Yesterday     Jan-Jul 2001     Jul-Dec 2000     Jan-Jun 2000     1999

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 Monetary Authority of Singapore celebrates 30th anniversary 

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Mdm Kang's Kitchen Chilli Crab

Excerpted from Deputy Prime Minister LEE Hsien Loong's keynote address to a conference to commemorate the MAS's 30th anniversary

  The Monetary Authority of Singapore (MAS) was born in turbulent times in 1971. Then, The US dollar was under intense pressure, due to mounting inflation and balance of payments problems brought on by the Vietnam War and Great Society programmes.

  The MAS has three responsibilities:

 - ensuring a strong and credible currency as one of the key pillars of macroeconomic policy

 - overseeing the financial sector

 - promoting the development of the financial industry

  In August 1971, just months after MAS was formed, the US suspended convertibility of the US dollar into gold, plunging international currency markets into turmoil. In June 1973, the Bretton Woods system of fixed exchange rates finally collapsed, and the Singapore dollar was floated.

  As a result, the Singapore Government enshrined a strong and credible currency as one of the key pillars of macroeconomic policy, and charged MAS with the responsibility of ensuring it. Tight fiscal discipline, a healthy balance of payments, and a vibrant Singapore economy underpinned the steady strengthening of the Singapore dollar.

  With the progressive dismantling of exchange controls in the 1970s, MAS maintained an explicit policy of not encouraging the internationalisation of the Singapore dollar. It limited the extension of bank credit in Singapore dollars to non-residents except for economic activity, and buttressed this with some restrictions on interbank Singapore dollar derivatives, such as currency and interest rate swaps and options, which might have helped financial players to leverage or hedge their positions. This policy made it harder for would be speculators to short the Singapore dollar, and signalled unambiguously the MAS's disapproval of such speculation.

  Until recently, MAS did not reveal its view of the exchange rate, what it had done, or what it intended to do. But going forward, MAS recognises the need to be more communicative and less opaque about its exchange rate policy. Hence it has been making half-yearly monetary policy statements announcing our prevailing policy stance. It has also published the movements of the trade-weighted Singapore dollar, hitherto a closely guarded secret. It envisages that if market participants and the public understand its policy stance better, there will be less uncertainty, and policy implementation will be more effective.

  The MAS has reviewed and refined its policy on the non-internationalisation of the Singapore dollar policy, and has liberalised it, leaving only the most essential restrictions in place. This has enabled the bond market to take off.

  Major challenges lie ahead. The MAS has to manage exchange rate policy in an increasingly volatile market, build a sound and responsive regulatory environment that allows the financial industry to thrive, and promote Singapore as a financial centre even in the midst of adverse external conditions.

  The MAS will groom a corps of competent and committed economists, supervisors, and investment managers within MAS. But this will not be sufficient. It also has to reinforce its team with talent from industry and abroad. It already has foreign and mid-career professionals among its ranks, but it must attract more such persons. Only by building a truly world-class MAS team, will it succeed in its mission - to promote macro-economic stability, and a sound and progressive financial centre.

The Full Speech by DPM LEE Hsien Loong

NEW WEBSITES  Makers of award-winning, image-editing, video-editing and 3-D titles, such as PhotoImpact, MediaStudioPro, MediaStudio, Cool 3D, PhotoExpress, PhotoExplorer and iMira Server Tools.  provides the world's best known designer and vintage women's wear with other luxury and hard-to-find items.  Offering a variety of guesthouses in Phuket, with a comfortable accommodation. You can make your stay there really substantial.  Simple point-and-shoot camera or sophisticated professional lenses and bodies. Online Photography shops. Dealer manufacturers in Singapore.  is a leading travel agency in Nepal operating tours to Tibet with fixed departure dates every Tuesday & Saturday, a fixed tour to Mt Kailash, tour & trek in Nepal, Bhutan, Sikkim, Darjeeling, and India for Buddhist pilgrimage tour.  Tempo Interaktif is the online service of Tempo weekly newsmagazine. The online version differs as it has breaking news and three languages - English, Indonesian, and Japanese. Tempo Interaktif links to other Tempo sites, such as, and

Singapore Island Adventures This site has information on getaway ideas to the nearby Riau Islands.  165 Squadron Air Defence Brigade, Air Defence Systems Division, Republic Of Singapore Air Force (RSAF).  Vintage watches, antique, pre-owned and complicated wristwatches bought & sold, i.e. Audemars Piguet, Le Coultre, Omega, Breitling, IWC, Rolex, Cartier, Hamilton, Longines, Patek Philippe, Vacheron. World gambling and betting with sportsbooks, casinos, and financial-spread betting from every continent. is the open-source travel portal. Interactive guides to hundreds of destinations, including Singapore. Singapore Lawyers - William Lai & Alan Wong. The firm is privileged to serve you and prestigious Banking & Financial institutions both local and foreign.

Click New Websites for the rest of the list.

BANKmates: Get a Personal Assistant to do your errands in Singapore.


The Singaporean website community Set up your company's website here. More...

We are now 2,750 pages thick and growing.

Public Holidays NATIONAL DAY is the next public holiday. It falls on Thursday 9 August 2001.

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Government Notices

New Schools Registered:

*Cherrybrook Kindergarten  3 & 5 Vanda Road Singapore 287775 Supervisor: Mrs Monica Lim

*Dayspring Kindergarten  31 Ponggol Twenty-fourth Avenue Singapore 829497  Supervisor: Mdm Lily Lim Tai Liang.


National Service

Registration for national service for all male Singaporeans and permanent residents born between 13 Jun 1983 and 18 Dec 1983 starts on 12 Feb 2001 & ends on 25 May 2001. Click for details. National Service

Singapore Government Website   Police Ministry Of Education  Consular Matters & Migrating (known as permanent residency)

Setting up a business? Do a free Name Search first to see whether the name you want is available. Click RCB.

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Birdsongs & Other Pieces  - The Music & Lyrics of Marc CHAN Yew Jin
With The Reverie String Quartet - Clement LIM (violin), WONG Yeang Chuan (guitar), Tracy CHIA (alto), Nadia TAN (soprano), Dawn WONG (Alto).
"Birdsongs & Other Pieces" is the debut concert of young Singaporean composer and lyricist Marc CHAN Yew Jin. The title piece, a fusion between the classical art song and musical theatre, is a song cycle that celebrates the most enviable aspect of birds - flight. And coincident with that idea is the idea of freedom. Some of the songs are settings of text by various poets, such as Maya Angelou and Alfian Sa'at. The other songs that complete the cycle have original lyrics by Marc. The evening will also see the premiere of instrumental works written in the past year. These include a suite of three pieces for toy piano, a romance for violin and piano, and four nocturnes for guitar.
4 Aug 2001     7.30pm     SPH Auditorium, Young Musicians' Society, 54 Waterloo Street (beside Singapore Art Museum)
Tickets at S$11 each (concession for students at S$10) available at all TicketCharge outlets. Call (65) 296 2929 or click HERE! For more information about the concert, please e-mail Marc at


See Entertainment for more information on local happenings!

National Day




9 August 2001

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Low Lying Areas In Singapore  Lists the flood-prone areas in Singapore.

Things you should know  Tells you things you need to be aware of - disasters, drowning cases, Hotel New World...
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The top ten fiction and non-fiction titles sold at these bookstores last week

Top Ten KINOKUNIYA Bestsellers

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22 July 2001

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