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Technology Stocks : Creative Labs (CREAF)

CREAF 0.448

-4.6%

Dec 17 12:59 PM EST

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To: Fred Fahmy who wrote (11873)	7/19/1998 1:46:00 AM
From: Savoirman	of 13925

I must agree that Singapore's been pretty behind in many ways, share buybacks being one of them. But things are really moving here. Banks have been merged, DBS bank now has a white man heading it, and some key people seen as impediments have been removed or sidelined. The Deputy Prime Minister is now head of the Monetary Authority of Singapore - this guy just says it and it goes. Singapore realized prety much that unless things are really overhauled, the banking system here will be swimming in an overcrowded bath-tub while the foreign banks get all the big deals. But if there's one thing you can expect, when the govt says early 99, it will be early 99. Share buybacks is one of the smallest things in their priorities right now. They have already given their approval, which means it is definitely coming through, just some paperwork needs to be done. Trouble is stock prices may be right up there again by that time. Yeah, a pity.

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