YAP Siong Eu 叶尚友
Economic Development of Singapore,
Accession Number 000316
- Oral History Centre
Source
- 11
Total Reels
- Liana Tan
Interviewer
- 05:00:25
Total Running Time
- English
Language
Copyright Notice
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Reel/Disc 1 of 11
Metadata
- 16 Aug 1983
Recording Date
- 00:30:16
Running Time
- MP3
Format
- Open Access
Conditions Governing Access
Synopsis
Family background. Reasons for parents migrating to Singapore. Ban Hin Lee Bank started by Yap Choy Eu. Worked in Ban Hin Bank due to family financial difficulties. Attended Ai Tong Radin Mas Schools. Living conditions of Harbour Board artisans. Illegal hawkers. Operation of the tram line. Mother started a shop. Attended Raffles Institution.
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Reel/Disc 2 of 11
Metadata
- 16 Aug 1983
Recording Date
- 00:27:18
Running Time
- MP3
Format
- Open Access
Conditions Governing Access
Synopsis
Elaboration on how Ban Hin Lee Bank was started. Local and foreign banks in Singapore. Further elaboration on daily operation of Ban Hin Lee Bank. Interest rates. Set up of Chinese Bankers' Trust. Chamber of Commerce. Major commodities traded. Trust receipts. Foreign exchange markets. Currency used was Straits Dollars.
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Reel/Disc 3 of 11
Metadata
- 25 Aug 1983
Recording Date
- 00:26:53
Running Time
- MP3
Format
- Open Access
Conditions Governing Access
Synopsis
Banking scene in 1930s. Types of business done by class and dialect groups.Trade with Malaya and Indonesia. Hoarding and profiteering. Surrender of British currency to British Administration before surrender to Japanese. Situation in Japanese Occupation. Straits Dollar replaced by Japanese currency.
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Reel/Disc 4 of 11
Metadata
- 25 Aug 1983
Recording Date
- 00:27:24
Running Time
- MP3
Format
- Open Access
Conditions Governing Access
Synopsis
Exchange control regulations. Japanese set up Military Government Ministry of Finance. Local banks resumed operations. Inflation resulting in cash transactions only. Introduction of Japanese currency and setting up of Southern Development Bank by the Japanese. Hoarding of British currency notes. Barter of commodities.
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Reel/Disc 5 of 11
Metadata
- 25 Aug 1983
Recording Date
- 00:27:36
Running Time
- MP3
Format
- Open Access
Conditions Governing Access
Synopsis
Conditions during Japanese Occupation. Kumiais. Rice rationing. Japanese requisition of properties. More on barter transactions. Black market. More on hoarding of British notes. Return of British and invalidation of Japanese currency and outstanding bank balances. War Insurance Corporation. Refund of British currency. Import restrictions. Return of foreign banks. Post-war banks - Chung Khiaw Bank.
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Reel/Disc 6 of 11
Metadata
- 30 Aug 1983
Recording Date
- 00:27:17
Running Time
- MP3
Format
- Open Access
Conditions Governing Access
Synopsis
British Exchange Control Regulations. Authorised Permits to regulate imports. Hong Kong as dominant financial centre. Joined OCBC, then joined Ban Hin Lee Bank. Became contractor for British Military Conservancy Services. Large profits from swill. Joined Chung Khiaw Bank in 1949. Operations of the Chung Khiaw Bank. Hokkien-Hakkas and Cantonese-Hakkas. Tiger Balm.
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Reel/Disc 7 of 11
Metadata
- 30 Aug 1983
Recording Date
- 00:25:59
Running Time
- MP3
Format
- Open Access
Conditions Governing Access
Synopsis
Further elaboration on Chung Khiaw Bank. Shortage of commodities in post-war period. Black market. Housing shortage. Rivalry between Nanyang Siang Pau and Sin Chew Jit Poh. Chinese Chamber of Commerce. Bank employees - no unions. Joined Industrial Commercial Bank from 1954 to 1958. Banking situation in 1950s. Introduction of trust receipts. Existence of pawnshops.
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Reel/Disc 8 of 11
Metadata
- 30 Aug 1983
Recording Date
- 00:26:54
Running Time
- MP3
Format
- Open Access
Conditions Governing Access
Synopsis
Differences between operations of Chung Khiaw Bank and Industrial Commercial Bank. The Asian Dollar introduced. Role of Association of Banks. First Finance company - Singapore Finance. Joined Bank of America as adviser in 1958. Details of Bank of America's operations. Aggressive strategy of Bank of America through low interest rates and trust receipts.
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Reel/Disc 9 of 11
Metadata
- 8 Sep 1983
Recording Date
- 00:26:56
Running Time
- MP3
Format
- Open Access
Conditions Governing Access
Synopsis
One month's strike in Bank of America in 1960. Transfer of Bank of America's business to United Chinese Bank. United Chinese Bank started foreign exchange department and handled most Indonesian business transactions previously done by Bank of America.
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Reel/Disc 10 of 11
Metadata
- 8 Sep 1983
Recording Date
- 00:27:25
Running Time
- MP3
Format
- Open Access
Conditions Governing Access
Synopsis
Indonesian Confrontation affected all banks in Singapore except Bank of America. Devaluation of Indonesian Rupiah caused flight of capital resulting in "Refugee Funds". Introduction of Euro-Dollar Scheme by Bank of America. Development of Asian-Dollar Currency Unit Scheme. Later the ACU was institutionalised by Singapore Government.
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