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Technology Stocks : Creative Labs (CREAF)

CREAF 0.470

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Jan 16 9:30 AM EST

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To: Fred Fahmy who wrote (12718)	11/11/1998 6:06:00 AM
From: Savoirman	Read Replies (1) of 13925

I must agree that Singapore has been inexcusably slow in bringing its financial sector up to world standards in terms of disclosure and liberalization. This is despite the frequent claim of trying to be a financial "centre". Buybacks is one very visible example of this fantastic foot-dragging. If it weren't for the financial crisis buybacks would probably be allowed in 2003 or something, after the rest of the world has allowed it. But having said all that, the pace of reform is accelerating. The Monetary Authority of Singapore actually speaks to investors and analysts nowadays, and writes to the press in non-threatening language. This government body used to have twice-a-year mandatory "scolding sessions" for reporters who wrote stories not exactly in line with its policies. So things are improving.

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