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Newswire (r)

Singapore/STIC/Burma -2: No Response To Bid Since Last Yr
   SINGAPORE (AP-Dow Jones)--Conglomerate Singapore Technologies Industri=
Corp.'s (STIC) said Monday its construction arm is likely to fail in its =
bid to
build and design an international airport in Mandalay, Burma. 
   STIC said its construction unit, Singapore Technologies Contruction =
Ltd., had signed a memorandum of understanding (MOU) with the Burmese =
of Transport in June last year to build the airport. Formal agreements we=
re to
be finalized within six months. 
   A formal bid for the construction works was submitted by ST Constructi=
on in
December last year to the Burmese authorities, STIC said. 
   But as the MOU has already expired, and the Burmese authorities haven'=
responded to STIC's bid, STIC believes that it 'will not, in all likeliho=
od, be
awarded the contract.' 
   The development of the airport is estimated to cost $500 million (Sing=
STIC said in an earlier statement. 
   STIC closed Monday 12 cents lower at S$3.16 on a volume of 420,000 =
   (END) AP-DOW JONES NEWS 12-02-96