SINGAPORE GOVERNMENT TAKES OVER GOODWOOD SHARES

  The Singapore government has taken
  over 82 mln dlrs worth of Goodwood Park Hotel Ltd shares and
  loan stock certificates belonging to the company's chairman,
  Khoo Teck Puat, banking sources said.
      Khoo is a major shareholder of the &lt;National Bank of Brunei
  Bhd> (NBB), which closed in November after the Brunei
  authorities alleged 90 pct of its loans of 1.3 billion Brunei
  dlrs had been extended to Khoo-related firms without
  documentation or guarantee.
      The Goodwood securities are now held by the Commercial
  Affairs Investigation Department, the banking sources said. The
  department declined to comment.
      The government move is aimed at protecting Goodwood's
  minority shareholders and securing Goodwood deposits at the
  NBB, the banking sources said.
      Goodwood had a total of 87.3 mln dlrs in fixed deposits,
  bank balances and accrued interest due from NBB as of last
  November, according to Goodwood's annual report.
  

