ANNUA L REPOR T 1984 Contents Highlights of 1984

Highlights Number of Savings Accounts: 2,672 million Chairman's Statement /2 Balances of all Accounts: $7,333million Board of Directors/4 Number of Transactions: 34 million The Year In Review/6 Cash Turnover: $17,187 million New Services/8 Interest Credited: $407 million Improvement in Services/10 Number of Cash-On-Line Tellers: 204 Related Services/14 Number of Current Accounts: 53,000 Community Relations/16 Number of Salary Accounts: 334,000 International Relations/18 Personnel/20 Principal Officers/22 Changes and Trends/24 Financial Statements/26 Directory of Offices/33 Subsidiary and Associate Companies/36

Cover The thrust of the Bank's activities in 1984 was the promotion of services in support of the national objective of minimising cash transactions for manpower savings. Towards this end, three cashless payment systems were introduced. In addition, the Salary Crediting Scheme was promoted Post Office Savings Bank more aggressively. The cover POSB Centre 73 Road highlights these activities during 0718 the year. Number of Savings Accounts

Total Depositors' Balances

Number of Cash-On-Line Tellers

Number of Transactions

Chairman's REVIEW Statement Midway through this decade of the 1980s, it would be pertinent to look back at the performance of the Bank since its inception in 1972 as a Statutory Corporation to see if a lesson might not be learnt for guiding the direction and thrust of the Bank for the rest of the decade. POSB's performance since 1972 might be summarised in the following key statistics:

These statistics highlight the healthy growth of the Bank and the achievement of its twin objectives: (i) to encourage thrift and savings (ii) to mobilise domestic savings for national development

Management Philosophy The key to the Bank's growth was its people-oriented philosophy. This philosophy extended to the people who staffed the Bank and to the people the Bank served. The Bank has been most fortunate to have as its management team a group of highly dedicated and loyal individuals whose commitment to the Bank is complete and total. Apart from the management team, the POSB girls, as a group, form the Bank's most valued asset Often, they are the POSB — our link with the depositors. Our officers have always been encouraged to adopt an open-door policy so that there is better empathy with corporate goals and achievements. The result is a tightly knit team with closely fostered teamwork. For the depositors, we developed a philosophy of orientating our services to their convenience. Hence, our investment in an extensive branching network to bring banking to their doorsteps, and by the application of the latest technology, into their homes. This philosophy of providing convenient banking services has been the cornerstone for the tremendous growth of POSB.

THE YEAR IN RETROSPECT As memorable years go, 1984 is second only to 1977 when POSB celebrated its centenary year. In April 1984, the Bank hosted the 14th World Congress of Savings Banks in Singapore. This was the first time that the triennial congress was held in Asia, and it reflected the international recognition of the development and importance of the savings movement in this part of the world. We were privileged and honoured to have the Acting President of the Republic of Singapore, Dr Yeoh Ghim Seng, open the Congress. The 3-day Congress was attended by over 1,000 delegates and accompanying persons from 43 countries. The theme of the Congress, "International Development through Co-operation", was covered exhaustively through comprehensive papers from renowned speakers. The Congress also discussed extensively the crucial issues currently facing savings banking. 1984 was also memorable for the introduction of the current account facility. In the 10 months since its introduction to the end of the year, the POSB current account attracted over 53,000 account-holders. Two other services with application of the latest technology, were started in 1984. POSBLine, a telephone banking service, was launched on 1 December 1984. In the same month a pilot Debit Payment System, in effect a cashless payment facility, was undertaken as a joint project with the Ministry of Health. This project is a fore-runner of the EFTPOS (Electronic Funds Transfer at Point of Sale) system, which when implemented should revolutionise the concept of payments for goods and services. During the year, POSB joined four major commercial banks to develop a national EFTPOS system. A company. Network for Electronic Transfers (NETS) has been formed to operate the system. In the traditional services, we continued to make steady progress. Growth was achieved in the following key areas:

We established 17 new branches, and closed 6 Post Office outlets, as part of a master plan to locate outlets in high traffic areas and population centres, and in response to population shifts. At the end of the year, the Bank had 131 branches including 3 automated branches. The expansion of the Cash-On-Line teller network went according to plan and 54 more ATMs were installed, bringing the total to 204. The success of the Cash-On-Line service has helped in increasing productivity. In 1984, transaction volume at Cash-On-Line tellers totalled 9.5 million. This constituted 56% of total withdrawals and 60% of withdrawals below $1,000. Towards Cashless Transactions. During the year, Government formed a committee to look into ways to reduce cash transactions for manpower savings. Two major approaches were identified: (i) encourage payment of salaries into bank accounts rather than in cash (ii) encourage payment of Government rates and fees by cheques, Giro or other Electronic Fund Transfer systems. We were in a position to help spearhead this national effort as POSB had been promoting the Salary Crediting Scheme since 1972 and Giro since 1974. To accelerate the push towards cashless paydays, we undertook an intensive education programme to teach workers how to operate ATMs for withdrawal of their salaries. A demonstration Cash-On-Line service was launched in August to provide workers with hands-on experience in the use of the ATM. This service was provided at their factory premises. A second demonstration ATM was put on the road in October to meet the demands of employers who found the service useful. In addition, we simplified our ATM operational procedures for multiple-fast-cash withdrawals of $50, $100, or $200 in just 3 simple steps. The withdrawal amounts were selected after careful studies of withdrawal patterns.

LOOKING AHEAD: THE COMING YEARS People POSB will continue to be people-oriented. This will remain the cornerstone of its management philosophy and of the services it provides to the public. POSB's growth was the direct result of its investment and belief in the ability of the staff. Human resources will continue to be the single most valuable ingredient for the future. Training, therefore, will play a central role in the continuing search for progress and betterment. We will encourage more active participation and contribution from our junior staff in improving their work environment and job procedures. For depositors, POSB will continue to mould banking services to their needs. Customer surveys have proven useful in obtaining feedback from depositors on the types of services they want and expect. Annual market surveys will be a regular feature to provide feedback and inputs for the development and improvement of the Bank's services.

Technology Computerisation and the harness of technology were the next most important contributors to growth. Technology will be further tapped to make banking even easier for the man in the street. The full potential of electronic fund transfer systems will be exploited to help pave the way to the cashless society of the future. An additional step in this direction was taken when the Bankjoined the Interbank Giro system for the acceptance of cashless payments.

Branch Network The Bank will expand its network until an optimum number of outlets is reached in the next From left to right: few years. New outlets will be located primarily in new townships and major shopping centres. Branches will be Mr. Chan Sek Keong, Dr. Toh Peng Kiat, kept comfortable and small, but efficient. Existing branches will be renovated to provide a more congenial Mr. Ng Kiat Chong, environment for staff and depositors. Mr. Lee Hock Ley, Mr. Thai Chee Ken, ATM Network POSB is committed to expand its ATM network to serve the burgeoning demand for its Mr. Hsuan Owyang Cash-On-Line services. We already have more than 650,000 cardholders, and have targetted a network of 300 and Mr. Tan Chok Kian (Chairman) Cash-On-Line tellers by the end of the year. Having successfully implemented our first 5-year ATM programme, we are now in the process of finalising our next 5-year plan to take us to the end of the present decade.

Investment of Funds We will continue to invest the bulk of the Bank's funds in the public sector to help finance national development. However, a fine and judicious balance must be achieved in order that we can continue to pay our depositors a fair and just rate of return. The primary goal of Credit POSB, the Bank's housing loan arm, is to promote home-ownership. To this end, substantial funds will continue to be provided for housing loans at competitive rates to individuals, especially to those who will be owning their first homes, under our First Home Ownership Scheme. Finally I would like to record my sincere appreciation to all staff for their dedication and untiring efforts to ensure the steady progress of POSB. My thanks also go to my fellow members on the Board of Directors for their valued counsel.

Tan Chok Kian Chairman, POSB May 1985 Board of Directors

Chairman Mr. Tan Chok Kian Deputy Chairman Mr. Hsuan Owyang Members Mr. Lee Hock Ley Dr. Toh Peng Kiat Mr. Thai Chee Ken *Mr.Ng Kiat Chong *Mr.Chan Sek Keong

* From February 1985. The Year In Review Depositors' balances increased 18% to $7,333 million at the end of 1984.

The Bank's unique current account service attracted over 53,000 depositors in just 10 months.

Overview Line tellers were installed, bringing Also in December, the Bank, Transactions Handled The Bank showed steady growth the total network to 204. This together with the Ministry of The number of transactions during the year with continued facilitated the withdrawal of Health, launched a pilot debit handled rose from 28 million in support from depositors. Savings salaries in line with the promotion payment system at the Singapore 1983 to 34 million in 1984. deposits increased 18% to $7,333 of salary crediting. General Hospital. The system using million. New services were Cash-On-Line cards, immediately Cash Turnover introduced, and public response The POSB Current Account was debits the depositor's account with During the year, the Bank handled was encouraging. launched on February 16, initially the amount to be paid to the a cash turnover of $ 17,187 at 30 selected branches, and Hospital, and no cash is transacted. million. This was a 16% increase During the year, the Government subsequently extended to 75 The results of this pilot project will over 1983. formed a committee to look into branches. The service introduced help develop a long term solution ways to reduce the volume of cash three new and unique features, i.e. to the debit payment system Interest Paid transactions for manpower no introducer, no minimum suitable to the Singapore Interest credited to depositors' savings. The Bank's introduction of balance and no service charge. environment. accounts totalled $407 million, an three new services during the year, Public response was enthusiastic, increase of $67 million or 20% the POSB Current Account, and by the end of the year, over BUSINESS STATISTICS over the previous year. POSBLine (a telephone banking 53,000 accounts had been opened. Number of Accounts service), and a pilot debit payment The number of savings accounts Interest Rates system were timely contributions POSBLine was launched in with the Bank reached 2.7 million In line with prevailing market to the achievement of the national December. This telephone banking at the end of 1984, an increase of conditions, the Bank increased its 1 objective. service enabled depositors to 179,000 or 7% over 1983. interest rates by /4% in October 3 conduct some banking 1984 to 6 /4% per annum for In the meantime too, the Bank transactions from any push-button Depositors' Balances balances up to $100,000 and 3 stepped up the promotion of its telephone. It provided depositors Depositors' balances increased 5 /4% per annum for balances in Salary Crediting Scheme to have with another cashless means of 18% during the year, from excess of $100,000. All interest workers' salaries paid into POSB paying bills to participating $6,241 million to $7,333 million. earned is exempt from income tax. accounts, and continued to corporations. promote GIRO for the electronic Deposits and Withdrawals payment of rates and fees. Both Deposits received during the year these services grew steadily. The totalled $8,923 million. number of users increased 22% Withdrawals amounted to $8,264 for each service. More Cash-On- million. The net deposit inflow was $659 million.

New Services

The Bank's pilot debit payment system at the Singapore General Hospital enabled Introduction of POSB Current Introduction of POSBLine Introduction of Pilot Debit cashless payments for medical Account POSBLine, the Bank's telephone Payment System treatment. The Bank launched its current banking service, was introduced in In the drive to reduce the volume account facility on February 16, at December. It enabled depositors to of cash transactions, the Bank With POSBLine 30 selected branches. The service conduct banking transactions from together with the Ministry of depositors can con­ was enthusiastically received due any push button telephone. Apart Health launched a pilot debit duct banking tran­ sactions from any largely to its innovative easy from making account balance payment system at the Singapore push-button application and operation enquiries and request for cheque General Hospital on December 15. telephone. procedures. Depositors do not books, depositors could also A total of 18 terminals were require any introduction when transfer funds between their installed at the Hospital's applying for the service as most savings and current accounts and outpatient treatment centres to have banked with the POSB for pay bills to participating enable depositors to pay for their several years. They also do not corporations through POSBLine. treatment with their Cash-On-Line have to maintain a minimum The introduction of POSBLine cards by direct debit from their balance in their accounts and hence marked another step towards the POSB accounts. no service charge is imposed. realisation of complete home banking. To make it even more convenient, the service was extended to a total of 75 branches by the end of 1984. At year end, over 53,000 people had opened a POSB current account.

Improvement In Services

ABOVE Cash-On- Line tellers were installed during the year at factories, community centres and for the first time, at a petrol station, in the Bank's push toward cashless paydays.

FAR LEFT Depositors who are unable to bank during normal office hours enjoy personalised night banking service at selected branches.

Computerisation and the harness of technology are important New Branches Automated Branches Longer Banking Hours contributors to The Bank's branch network was The concept of self-service growth. Technology At the end of 1984, banking will continue to be further extended to bring banking banking through automated teller facilities on Saturday afternoons tapped to make services closer to depositors. machines was introduced in 1979 were available at 22 branches. banking even easier when the Bank launched the first for the man in the 17 new branches were opened Cash-On-Line teller. Self-service Depositors who were not able to street. while savings bank counters at 6 banking was taken a step further bank during normal office hours post offices were replaced by new when the Bank opened the first enjoyed personalised night and better-equipped branches near fully-automated branch at the banking service up to 7.00 pm at these post offices. By the end of General Post Office, Fullerton 10 branches in department stores, the year, the Bank had 131 outlets Building in December 1982. This supermarkets and housing estates. throughout the Republic. was a new concept in retail banking in the region. Cash-On-Line Tellers Principal Branches Since its introduction in 1979, the The City House Branch opened for There were no staff in the branch. Cash-On-Line service has received business on March 21 as a The fully-automated branch was overwhelming response. The Principal Branch. This brought the equipped with account balance number of depositors who applied total of such branches to 18. printers for Passcards and audio­ for the service increased by 38% Higher withdrawal limits of up to visual equipment with to bring the number to 573,000 $10,000 in cash and $50,000 in commentaries on the Bank's at the end of the year. cheque were available at these services and the use of the facilities branches. Principal Branches also at the branch. Two multi-lingual During the year, Cash-On-Line accept and process applications for Cash-On-Line tellers offered the transactions jumped 54% over the renovation and housing loans. full range of Cash-On-Line services, previous year. Cardholders including the Fast Cash facility conducted a total of 13 million which expedited payment of transactions, (continued) withdrawals at a fixed sum of $200.

The automated branch was well- received by depositors. A third branch was opened at City House in March.

FAR LEFT & LEFT The Bank stepped up the promotion of the Cash-On-Une service with the launch of an educa­ tion service on 23 August 1984 by Mr Eugene Yap, Parliamentary Secretary (Labour).

To meet the rising demand, the The education service During the year, the number of Passcard Account Bank extended the operating included instructional video tapes employees paid through their The Passcard is a statement-based hours of more Cash-On-Line for loan to factories, and easy-to- POSB accounts grew by 22% to savings account. It eliminates tellers. All Cash-On-Line tellers follow printed guides on the use of 334,000, with 1,160 companies updating at the counters and accessible to the public at all times, the ATM. Ten selected branches, participating in the scheme. reduces transaction time. Passcard offered 24-hour service. regionally located, were also account-holders are provided equipped with video facilities to GIRO Service maximum security as the Fifty eight Cash-On-Line tellers run the instructional tapes. In line with the Government's push cardholder's photograph appears were installed in 1984. The total towards reducing cash on the handy-sized card. network at the end of the year Salary Crediting Scheme transactions, the Bank continued was 204. Greater efforts were made to to promote GIRO to depositors. As Combined Cash-On-Line/ promote the Bank's Salary a result, the number of GIRO Passcard Facility As part of the Bank's intensified Crediting Scheme in line with the standing orders increased 22% to For depositors' convenience, the efforts to promote the Salary Government's push towards an 615,000. Organisations Bank introduced the combined Crediting Scheme and to increasingly cashless society for participating in the Bank's GIRO Cash-On-Line and Passcard in encourage more workers to be manpower savings. POSB scheme include CPF, HDB, Income December 1981. This combined paid through bank accounts rather instituted its Salary Crediting Tax. JTC, Property Tax, PUB, card has two magnetic stripes with than by cash, two demonstration Scheme in 1972 with a pilot Telecoms, Public Service information of the two cards Cash-On-Line tellers were scheme for Government Officers Commission, Rediffusion, encoded separately. With this, a launched in the second half of the and subsequently introduced it to American Express, Hindu cardholder can make transactions year. These demonstration tellers the private sector in 1979. Endowment Board and several at the Cash-On-Line tellers as well were sent to factories and insurance companies. as at any of the Bank's manned community centres as part of an Under the scheme, employers need branches. education service to teach workers only write a cheque for POSB for Three new organisations joined how to withdraw their salaries at the total wage payments of their the scheme in 1984. They were any time from Cash-On-Line tellers. employees and provide the Bank the Ministry of Environment with a computer tape listing the (Hawker's Licence), Mendaki and details of the staff salaries. POSB the Community Chest of credits the amounts to the Singapore, bringing the total individual accounts and employees number of participating are then free to withdraw part of organisations to 21. their salaries as needed from a large network of branches and 24- hour Cash-On-Line tellers. BELOW Mr Ho Kah Leong, Parliamen­ tary Secretary (Education) launched the second School Savings Day on 2 March 1984. A School's van was also unveiled and is a familiar sight in schools today.

The City House Branch was one of 17 new branches opened in 1984.

Travellers Cheques The Bank commenced the sale of travellers cheques in November 1983. Travellers cheques in US Dollars, Sterling Pound and Yen can be purchased and encashed at any of the following POSB branches:

• POSB Centre • Centrepoint • City House • Clifford Centre • • Goldhill Centre • Town • • Robinson Road

Students' Savings The 1984 National School Savings Campaign was launched on 2 March 1984 by Mr Ho Kah Leong, Parliamentary Secretary (Education). The campaign centred on the theme "Savings Help Build Your Future", and was jointly organised by POSB and DBS.

At the end of the year, the Bank had over 513,000 accounts in the age group 5 — 19 years. Related Services

LEFT. Credit P0S8 BELOW More than provides 400,000 viewers renovation loans at tuned in to the live competitive broadcast of the interest rates to 1984 POSB Show help families during which the furnish their winners of the homes. December Lucky Draw were announced.

Credit POSB's attractive housing loan schemes have helped many acquire their own homes.

POSB Loan Schemes HUDC PHASE III LOANS 5 August—31 October 1984 Credit POSB was established in Loan Period Interest Rate for the December Draw 3 1974 to help promote home 1 — 10 years 8 /4%p.a. ownership by providing housing 11 — 25 years 9% p.a. To provide a wide distribution of loans at the most attractive prizes, the June Lucky Account interest rates. The Company grew COMMERCIAL PROPERTY LOANS Draw was based on account over the years, and by the end of Loan Period Interest Rate numbers, with each depositor 1 1984, it had 25% of the market 1 — 10 years 9 /2%p.a. being allowed to qualify only once. 3 share for residential property 11—20 years 9 /4%p.a. This provided every depositor an loans. equal chance to win. No ticket RENOVATION & FURNISHING LOANS numbers were issued and In August 1984, Credit POSB Loan Period Interest Rate computers were used to draw the announced its One-Stop Housing 1 — 2 years 6% p.a. winning account numbers. 1 Loan Scheme as part of its tenth 3 — 4 years 6 /4% p.a. anniversary celebrations. Under The December Draw offered the scheme, borrowers can apply POSB Lucky Draws depositors multiple chances of for a POSB loan and the The Bank organised two cash winning based on the amount of withdrawal of their CPF savings draws in 1984 — one in June and savings maintained in the account. under the Approved Residential the other in December. Depositors Ticket numbers were issued for Property Scheme at Credit POSB. with a minimum of $1,000 in their every $1,000 saved during any of savings accounts during the three qualifying periods. At end December 1984, Credit qualifying periods were eligible for POSB's interest rates were as the Draws. The total prize money for the follows:- 1984 POSB Lucky Draws was There were 3 qualifying periods $2.5 million. More than 28,000 HOUSING LOANS for the 1984 Draws: prizes were won. Loan Period Interest Rate 1 — 10 years 9% p.a. 5 March —30 April 1984 1 11 — 25 years 9 /4% p.a. for the June and December Draws 5 May — 31 July 1984 for the December Draw

LEFT The Bank con­ Community Relations tinued to sponsor the SSO's efforts to bring music to the people through its outreach concerts.

BELOW At the National Exhibition, POSB sponsored The Heritage of Challenge audio­ visual show on the theme, People as a Resource.

The Bank touches the lives of many people not only through its wide- ranging services but also through its sponsorship of community projects in education, the arts and sports.

The Bank continued to take an Scholarships and bursaries Exhibitions active role in various areas of totalling $153,375 were awarded The Bank participated in Banque community service. to students pursuing their tertiary Asia '84, a banking technology studies at the local and overseas exhibition, in April 1984. A pilot Sponsorships universities, as well as tojunior home-banking system, POSBText, The Bank sponsored community college students and trainees from was introduced at the exhibition. projects in education, the arts and the Vocational & Industrial sports, including the National Training Board. POSB participated as a sponsor of "Total Defence" Children's On-the- the financial sector at the National Spot Drawing competition, the The principal sum in the Fund was Exhibition in November and Giraffe Exhibit at the Singapore increased from $4 million to $5 December, staged to Zoological Gardens and a series of million during the year. commemorate 25 years of nation- open air concerts by the Singapore building. The Bank also sponsored Symphony Orchestra. Speak Mandarin Campaign the production of an audio-visual In conjunction with the Speak show entitled Heritage of Centenary Trust Fund Mandarin Campaign 1984, the Challenge , which formed part of The Fund was set up in 1977 to Bank and Lian He Zao Bao jointly the People As A Resource gallery, support charitable organisations organised a "POSB/Lian He Zao at the exhibition. and to grant scholarships and Bao Mandarin Quiz" open to all. study loans to students in need of financial assistance. Donations The Quiz was well supported by were made to various the public and attracted 27 teams organisations during the year, of four members each. To including the Community Chest of promote the language among the Singapore, Tai Pel Old People's non-Chinese educated, only one of Home and the Ministry of Social the team members may be from Affairs Creches Fund. the Chinese stream. The finals was held in the POSB Auditorium on November 1.

The Bank hosted International Relations the 14th World Congress of Sav­ ings Banks which was held in Asia for the first time. The congress saw a gathering of 1,044 delegates from all over the world.

BELOW The social events organised for the evenings gave the visitors a glimpse of Singapore's manifold cultural heritage

ABOVE Dr Yeoh Ghim Seng, Acting arriving to deliver the keynote address. He is accompanied on his right by Mr Lee Yock Suan and on his left by Mr Tan Chok Kian. Also pictured are Dr h.c. H.Geiger and Mr S. Dronda.

14th World Congress of Among the distinguished speakers Savings Banks at the Congress were Mr Masao The landmark event of the year Fujioka, President of the Asian was the hosting of the 14th World Development Bank, Tan Sri Abdul Congress of Savings Banks from Aziz Taha, Governor of the Central April 3 — 5. 1,044 delegates and Bank of and Mr Georg accompanying persons from 43 Gabriel, Vice-President of the countries attended the Congress World Bank. which was held in Asia for the first time. Also present at the World The welcoming cocktail which Congress for the first time, was a marked the start of the social delegation from the People's programme organised for the Republic of China. delegates in the evenings, was hosted by Dr , Minister The keynote address at the for Finance and Trade & Industry. FAR LEFT Dr Yeoh LEFT Mr Masao Fu­ ABOVE The social Congress was delivered by Dr The Minister of State for Finance, Ghim Seng meets jioka addresses the gatherings offered Yeoh Ghim Seng, Acting President Mr Lee Yock Suan was the guest Mr Hsuan Owyang, delegates on The delegates the of the Republic of Singapore. of honour at the Farewell Banquet Mr Bertie Cheng Importance and opportunity to meet and Dato'Seri Syed Role of Asia in In­ their counterparts The theme, "International Nahar Shahabuddin ternational from other savings Development Through Co-operation" The Congress saw an intensive during a coffee Economic Relations. banks. Among was discussed at length. The exchange of experiences in the break. those present at Congress was jointly chaired by important aspects of savings bank the welcoming cocktail were (from ISBI and POSB. work and a frank exchange of left) Mr H. Rigele, views on how areas of future Dr Tony Tan, synergy could be further Dr h.c. H.Geiger, developed. Mr J.M. Pesant, Mr Tan Chok Kian, Mrs Tony Tan and The World Congress is held Mr J. Olajide. triennially under the aegis of the International Savings Banks Institute (ISBI) to which 3,000 savings banks around the world are affiliated. Personnel

LEFT 123 Staff received Long- Service awards from Mr. Tan Chok Kian, Chairman, POSB at the Bank's 1984 Annual Dinner & Dance.

BELOW Mr Cheah Pin Thong, Operations Manager, leading a group discussion at the annual Junior Staff Seminar held at a local hotel.

Counter officers are the Bank's most valued asset. They are the link with the depositors.

Staff Matters POSB Courtesy Campaign Staff strength in POSB was 938 at Courtesy is an integral part of the year-end. Greater emphasis was Bank's service to its depositors. placed on training to upgrade The Bank places great emphasis on customer service and develop courtesy in its training programme human resources. In-house and for counter officers and strongly external training courses for staff supports the National Courtesy covered subjects such as Month of July. supervision, public relations, banking operations and During the year, 20 staff were management. selected for their outstanding courtesy to the public and were Work Improvement Teams awarded certificates of Work Improvement Teams, commendation. Ten of the most formed to foster teamwork and well-kept branches also received encourage staff to think of ways awards. to streamline their work procedures, continued to receive enthusiastic support in its second year.

In all, 251 staff or 27% of the total staff strength formed 34 WITs during the year. Staff attended a series of seminars and courses on WITs organised by the Civil Service Institute.

Principal Officers

From left to right: Mr Ng Kim Soon Mr Cheah Pin Thong, General Manager Property Manager Senior Manager Mrs Kwok Moon Moi, Mr Bertie Cheng Mr Loh Ah Soh (POSB Computer Services) Mr Peter Chia, Mr Teo Kim Soon Mr Loh Ah Soh, Chief Manager Chief Accountant Miss Chua Bee Choo, (Property Management) Miss Chua Bee Choo Senior Manager Mr Ang Khee Huat, Mr Ng Tee Geok (Credit POSB) Mr Teo Kim Soon Operations Manager Mr Ng Kim Soon Development Consultant Mr Cheah Pin Thong From left to right: Mr Hiew Siew Nam Mr Bertie Cheng, Personnel & Mr Wee Tew Lim, Director Administration Manager Mr Ng Tee Geok, (Corporate Services) Mrs Kwok Moon Moi Mrs Margaret Koh, Mr Wee Tew Lim Absent: Internal Auditor Mr. Hiew Siew Nam Director Mr Ang Khee Huat (Asset Management) Public Relations Mrs Margaret Koh & Marketing Manager Mr Peter Chia ORGANISATIONAL STRUCTURE Post Office Savings Bank: Changes And Trends, 1970-1984

REPORT ON THE AUDIT OF ACCOUNTS For the year ended 31 December 1984

The accounts of the Post Office Savings Bank of Singapore have been examined under my direction and in accordance with the provisions of the Post Office Savings Bank of Singapore Act (No. 13 of 1971). I have obtained all the information and explanations 1 have required.

In my opinion:- (a) the accompanying accounts show fairly the state of affairs of the Bank at 31 December 1984 and its results for the year ended on that date;

(b) proper accounting and other records have been kept; and

(c) the receipt, expenditure and investment of moneys and the acquisition and disposal of assets by the Bank during the year have been in accordance with the provisions of the Post Office Savings Bank of Singapore Act (No. 13 of 1971).

Chee Keng Soon Auditor General Singapore 21 May1985 THE POST OFFICE SAVINGS BANK OF SINGAPORE BALANCE SHEET As At 31 December 1984

The accompanying notes form part of the accounts.

Tan Chok Kian Chairman Post Office Savings Bank Singapore THE POST OFFICE SAVINGS BANK OF SINGAPORE INCOME AND EXPENDITURE STATEMENT For the year ended 31 December 1984 NOTES TO THE ACCOUNTS

1. Significant Accounting Policies 1.1 Accounting Convention The Bank's accounts have been prepared under the historical cost convention.

1.2 Investments 1.2.1 Government Securities, Loan Stocks and Shares in Unquoted Corporations are stated at cost. 1.2.2 Bonds are stated at the lower of cost and face value. 1.2.3 Quoted shares are stated at the lower of cost and market value.

1.3 Foreign Currency Transactions Transactions arising in foreign currencies are converted at the rates of exchange ruling on the transaction dates, except where foreign currency transactions are uncompleted at year-end, the respective outstanding balances have been converted at rates of exchange approximating those ruling at Balance Sheet date. Exchange differences are taken up in the Income and Expenditure Account.

1.4 Depreciation of Fixed Assets Fixed Assets are stated at cost less accumulated depreciation. Depreciation is provided as follows:-

No amortisation is provided for freehold land and leasehold land under lease exceeding 99 years. However, where land and building costs cannot be practically segregated, amortisation/depreciation has been provided on both land and building over 50 years, or the lease period, whichever is shorter.

Fully depreciated assets are retained in the accounts until they are no longer in use.

No depreciation is provided for Construction Work-in-Progress.

1.5 Renovation and Establishment of Branches It is the policy of the Bank not to capitalise expenditure incurred on the renovation and establishment of branches, but to treat it as outright expenditure in the year it was incurred. NOTES TO THE ACCOUNTS

1.6 Significant Changes in Accounting Policies 1.6.1 Bonds Bonds, which were previously stated at face value, are now stated at cost or face value, whichever is lower. Recognition of discounts is deferred until redemption or sale. Premiums are however expensed off in the year of purchase. 1.6.2 Land and Buildings No depreciation was previously provided for the following categories:- (1) Buildings on freehold land (2) Buildings on leasehold land under lease exceeding 99 years For the financial year 1984, all buildings were depreciated on a straight line basis over their useful lives, estimated at 50 years, or over the period of the respective leases, whichever is shorter. The effect of these two policy changes was to reduce the General Reserve by $1.618 million. This sum had been included as part of the prior year adjustments.

2. Principal Activities The principal activities of the Bank consist of the provision of retail banking services and the mobilisation of the funds for public development in accordance with The Post Office Savings Bank of Singapore Act (No. 13 of 1971) and The Post Office Savings Bank of Singapore (Amendment) Act (No. 4 of 1984).

3. General Reserve

4. Capital Reserve The Capital Reserve was created for the purpose of a proposed building project

5. Centenary Trust Fund The Centenary Trust Fund was set up in 1977 and the income derived from the investment of the Fund is used to provide scholarship and bursary awards to deserving students and for other charitable purposes. NOTES TO THE ACCOUNTS

6. Fixed Assets

7. Subsidiary Companies

8. Commitments As at 31 December 1984, the Bank's commitments were as follows:- (a) Outstanding capital commitments contracted but not provided for in the accounts at the end of the year amounted to approximately S$62 million. (b) Outstanding commitment to subscribe for 1 million ordinary shares of S$l each in Export Credit Insurance Corporation of Singapore Ltd (EC1CS). (c) Undertaking to extend to EC1CS a stand-by line of credit not exceeding S$l 0 million.

9. Contingent Liabilities The Bank had Contingent Liabilities of approximately S$22.8 million as at 31 December 1984 in respect of guarantees given to third parties.

10. Comparative Figures The comparative figures in the accounts had been reclassified where appropriate to conform with this year's presentation.

Directory Of Offices POSB Main Branch 21. Centrepoint 42. Goldhill Centre 63. Meridien Centre 1. POSB Centre (Principal Branch) (Principal Branch) 100 73 176 Orchard Road Thomson Road 193-201 #02-70 1st Storey #01-27 Goldhill Shopping Centre Meridien Shopping Centre POSB Centre Centrepoint 43. Henderson Road 64. Mountbatten Branches 22. ChaiChee Block 113 View Old Airport Road 2. Alexandra Block 21 Road #01-550 2nd Storey Hawker's Centre Block 136 Alexandra Road #01-436 44. Hillview 65. Newton #01-165 23. Airport Block 17 Hillview Avenue (Principal Branch) 3. Alexandra Village South West Finger #01-1314 135 BukitTimah Road Block 121 Bukit Merah Lane #01-014/028 45. Central 66. NOL Building #01-06/08 Singapore Block 204 Hougang Street 21 456 Alexandra Road 4. Central 24. Changi Road #01-99/101 #01-00 NOL Building (Principal Branch) 398 Changi Road 46. Hougang South 67. Block 713 Ang Mo Kio Avenue 6 #01-14/15 Block 108 Hougang Avenue 1 470 North Bridge Road #01-4040 Castle Court #01-1269 #01-01 Singapore Finance House 5. Ang Mo Kio East 25. 47. Jalan Eunos 68. Orchard Towers Block 452 Ang Mo Kio Block 5 Upper Changi Road Block 6 Eunos Crescent 1 Claymore Drive Avenue 10 #01-2037 #01-2647 & #01-2649 #01-07 #01-1793 26. Chin Swee Road 48. Orchard Towers Rear Block 6. Ang Mo Kio North 151 Chin Swee Road Block 4 Road 69. Parklane Block 629 Ang Mo Kio Avenue 4 #01-17/20 #01-89 35 Selegie Road #01-1018 Manhattan House 49. Jalan Sultan Parklane 7. Ang Mo Kio West 27. Chun Tin Court 50 Jalan Sultan #01-06 Block 226G Ang Mo Kio 15 Yuk Tong Avenue #01-02 70. Avenue 1 28. City House Jalan Sultan Centre 80 Road #01-687 & #01-689 (Principal Branch) 50. JooChiat #01-02 Parkway Parade 8. Plaza 36 Robinson Road 437 71. Pandan Valley 400 Balestier Road #01-00 Block B Pandan Valley 51. Jurong #01-18/20 City House #01-210 Balestier Plaza 2 Corporation Road 29. Clementi Central NES Building Pandan Valley Condominium 9. Balestier Road (Principal Branch) 72. Pearl's Centre 52. Block 2 Thomson/Balestier Road Block 449 Clementi Avenue 3 100 Block 255 Jurong East Street 24 Junction #01-641 #01-243/247 #01-11 Pearl's Centre Balestier Hill Shopping Centre #01-301 30. Clementi East 73. Peninsula Plaza 53. Jurong Town 10. Central Block 352 Clementi Avenue 2 111 North Bridge Road (Principal Branch) (Principal Branch) #01-91 #01-28 Peninsula Plaza Block 213 Bedok North Street 1 Block 106 Yung Kuang Road 31. Clifford Centre 74. People's Park #01-103 #01-19/21 (Principal Branch) 112 East Coast Road Bedok Town Centre 54. 24 B1-03&B1-04 11. Bedok North #02-18 Block 442 75. Prince Orchard Block 539A Bedok North Clifford Centre Jurong West Avenue 1 270 Orchard Road Street 3 #01-750 32. Colombo Court #01-03 Crown Prince Hotel #01-475 1 North Bridge Road 55. Kaki Bukit 12. Bedok South #01-01A Block 632 76. Queenstown Block 46 Bedok South Avenue 3 Colombo Court Road Commonwealth Avenue #01-264 #01-824 2nd Storey 33. Coronation Plaza Hawker's Centre 13. (Principal Branch) 587 Road 56. Block 221 Boon Lay Place #02-16 Block 67 Kallang Bahru 77. Robinson Road #01-108/112 Coronation Shopping Plaza #01-469 (Principal Branch) 79 Robinson Road Boon Lay Shopping Centre 34. Crawford 57. Kampong Silat Block 146 Jalan Bukit Merah #01-02 14. Brickworks Estate Block 463 Crawford Lane CPF Building Block 1 Jalan Bukit Merah #01-07 #01-1082 78. #01-4514/4516 35. Dempsey Road 58. House Block 4 Rochor Road 15. West 14A Dempsey Road Kent Ridge Campus #01-524 Block 166 Bukit Batok West 36. Empress Place #SC 207 79. Avenue 8 (Principal Branch) National University of 4 Jalan Tampang #01-256 Government Offices Building Singapore Off Sembawang Road 16. 37. Far East Plaza 59. King George's Avenue 20 km 14 Block 22 Havelock Road Block 803 80. Garden #03-06/07 #01-689 King George's Avenue (Principal Branch) Far East Plaza 17. Bukit Merah Central #01-234 9/9A Kensington Park Road Block 161 Bukit Merah Central 38. Fortune Centre 60. MacPherson 81. Serangoon Road #01-3727/3729 190 Middle Road 401 MacPherson Road (Principal Branch) #02-18 Fortune Centre 18. #01-12 291 Serangoon Road Block 109 Bukit Purmei Road 39. East Great Eastern Hotel 82. Block 95 Crescent #01-135 61. Marine Parade 87 Upper East Coast Road #01-489/491 19. Bukit Timah Plaza (Principal Branch) Goodwill Court 1 Jalan Anak Bukit 40. Geylang West Block 83 Marine Parade #B1-07 Block 53 Sims Place #01-584/586 Bukit Timah Plaza #01-170 62. 20. Cambridge Road 41. Block 18 Marsiling Lane Block 42 Cambridge Road Block 10 Ghim Moh Road #01-265 #01-0001 #01-88 83. Bedok 105. Upper Serangoon Road 124. Post Office 13. Bedok North Branch Bedok Road (Principal Branch) Chua Chu Kang Road 16.5 km Block 539A Bedok North Street 3 #01-314 760B Upper Serangoon Road 125. Covent Garden Post Office #01-475 Bedok Shopping Complex #01-03 & 02-02 Block 92 Zion Road 14. Bedok South Branch Upper Serangoon Shopping 84. Singapore General Hospital #01-179 Block 46 Bedok South Avenue 3 Centre Block 4 Outram Road 126. Geylang Post Office #01-264 Wards Building 106. Road 447 15. Bedok Town Centre 1 Thong Soon Avenue 85. Singapore Polytechnic 127. Haig Road Post Office In front of Emporium Block 209 Dover Road 107. West Coast Road Block 12 Haig Road facing New Upper Changi Road #01-104/105 Block 501 West Coast Road #01-349 16. Blanco Court Polytechnic Centre #01-296 128. Kreta Ayer Post Office 585 North Bridge Road 86. 108. Whampoa Drive Block 333 Kreta Ayer Road Site Near #02-34 76 South Bridge Road Block 102 Whampoa Drive #01-17 17. Boon Lay Branch #01-00/02-00 #01-12 129. MacPherson Road Post Office Block 221 Boon Lay Place 87. Stirling Road 109. Woodlands Central MacPherson Road/ #01-108/112 Block 163 Stirling Road Block 2 Lorong Bakar Batu Boon Lay Shopping Centre #01-1238 Woodlands Town Centre 18. Boon Teck Community Centre #01-134/136 130. Maxwell Road Post Office 88. Supreme House Maxwell Road Block 160 Lorong 6 9 Road 110. World Trade Centre 131. Post Office #01-11/#01-12 1 Maritime Square Pasir Panjang Road 11.5 km 19. Brickworks Estate Branch 89. Taman Warna #01-01 Block 1 Jalan Bukit Merah 132. Post Office Taman Warna/ World Trade Centre #01-4514/4516 6 Shenton Way North 111. YishunWest 20. Bukit Merah Central Branch Block 106. Ring Road #01-39 90. South DBS Building Block 161 Bukit Merah Central Block 138 Tampines Street 11 #01-175 #01-3727/3729 133. Still Road Post Office #01-98/100 112. ZhuJiao Lorong G Telok Kurau/ 21. Bukit Purmei Branch Block 664 Buffalo Road 91. Tampines Way Still Road Block 109 Bukit Purmei Road Block 23 Tampines Way #01-01/02 #01-135 #01-281 Superbanks 134. Post Office (Drive-in) 22. Bukit Timah Plaza Branch 113. Cold Storage Katong 92. Tanglin Halt 60 Tanglin Road 1 Jalan Anak Bukit Block 39 Tanglin Halt Road 31, Amber Close 3rd Storey #B1-07 135. Teban Garden Post Office #01-119W Cold Storage Katong Bukit Timah Plaza 114. Metro Golden Mile Block 38 Teban Garden Road 93. Tanjong Katong #01-316/317 23. Buona Vista Community Centre 245 Tanjong Katong Road 7500D Beach Road 1 st Level 399 Holland Drive Metro Golden Mile CASH-ON-LINE TELLERS 94. The Plaza 1. A & W Kallang Park 24. Cambridge Road Branch Block 1 Kee Seng Road 200 Stadium Road Block 42 Cambridge Road #01-26/27 115. Metro Grand #01-0001 Tanjong Pagar Plaza 304 Orchard Road 2. Airline House 5th Storey SIA Engineering Hangar 25. CPF Bedok Branch Office 95. East 1st Storey Block 202 Bedok North Street 1 Block 10 Singapore Changi Airport #01-487 Telok Blangah Crescent 116. Metro Orchard 3. Alexandra Village Branch 26.. CPF Jurong Branch Office #01-155 25 Scotts Road 4th Storey Holiday Inn Block 121 Bukit Merah Lane Block 110 Yung Sheng Road 96. Telok Blangah West #01-06/08 #01-05 117. Yaohan Katong Block 81 Telok Blangah Drive 27. CPF Toa Payoh Branch Office #01-424 80 Marine Parade Road 4. Amoy Quee Camp #02-33 Road Block 72 Lorong 5 97. Thomson Plaza Toa Payoh Parkway Parade 5. Ang Mo Kio Central Branch 301 Upper Thomson Road #01-758 Block 713 Ang Mo Kio Avenue 6 #01-37 118. Yaohan Orchard 68 Orchard Road #01-4040 28. Centrepoint Branch Thomson Plaza 176 Orchard Road Basement 2 6. Ang Mo Kio East Branch 98. Thomson Road #01-27 Block 452 Ang Mo Kio Avenue 10 246R Upper Thomson Road Centrepoint Automated Branches #01-1793 99. 29. Chai Chee Branch 119. City House 7. Ang Mo Kio North Branch Block 28 Tiong Bahru Road Block 21 Chai Chee Road 36 Robinson Road Block 629 Ang Mo Kio Avenue 4 #01-141/147 #01-436 #01-00 #01-1018 100. Toa Payoh Central City House 30. Changi Airport Branch 8. Ang Mo Kio West Branch (Principal Branch) South West Finger 120. General Post Office Block 226G Ang Mo Kio Avenue 1 Block 178 Toa Payoh Central #01-014/028 Fullerton Building #01-687/689 #01-198/200 Singapore Changi Airport 121. POSB Centre 101. Toa Payoh East 9. Balestier Plaza Branch (24-Hour) 31. Changi Airport (ATM 1) Block 20 Lorong 7 400 Balestier Road 73 Bras Basah Road #01-18/20 Basement 2 Toa Payoh 1st Storey POSB Centre Balestier Plaza Passenger Terminal Building #01-736 32. Changi Airport (ATM 2) Savings Bank Counters at 10. Balestier Road Branch 102. Toa Payoh North Basement 1 Post Offices Block 2 Thomson/ Block 107 Lorong 1 Passenger Terminal Building Toa Payoh 122. Alexandra Post Office Balestier Road Junction 33. Changi Road Branch #01-266 110 Alexandra Road #01-641 398 Changi Road 123. Balestier Estate Post Office Balestier Hill Shopping Centre 103. Towner Road #01-14/15 Block 74 Whampoa Drive 11. Bedok Camp Block 102 Towner Road Castle Court #01-344 Upper East Coast Road #01-244/246/248 12. Bedok Central Branch 34. Changi Village Branch 104. Upper Pickering Street Block 213 Bedok North Street 1 Block 5 Upper Changi Road (Principal Branch) #01-103 #01-2037 Block 3 Upper Pickering Street Bedok Town Centre 35. Chartered Industries of Singapore #01-27 249 36. Community Centre 59. Fitzpatricks Chancery Court 86. HDB NC — Toa Payoh, Lorong 1 111. Kolam Ayer Community Centre Ang Mo Kio Avenue 8 36 Dunearn Road Block 126 Lorong 1 Toa Payoh 3188 37. Chun Tin Court Branch Block 36H Chancery Court 87. HDB NC — Toa Payoh, Lorong 8 112. 15 Yuk Tong Avenue #01-44 Near Block 210 Lorong 8 Toa Payoh 177 River Valley Road 38. City House 60. Fitzpatricks Holland Village 88. HDB NC — Upper Thomson Road 113. Macpherson Community Centre Automated Branch 223 Holland Avenue Block 4 Upper Thomson Road 400 Way #01-05 36 Robinson Road 89. Institute of Education 114. Marine Parade Branch #01-00 61. Fitzpatricks Orchard Student's Recreation Centre Block 83 Marine Parade City House 300 Orchard Road 1 st Storey #01-584/586 39. City House Branch 62. Fitzpatricks Bukit Timah Campus 115. Matsushita Denshi 36 Robinson Road 1 Maju/Farleigh Avenue 90. Isetan Havelock 22 Ang Mo Kio Industrial Park II #01-00 Serangoon Garden Havelock Road/Outram Road City House 116. Meridien Branch 63. Fortune Centre Branch Level 3 100 Orchard Road 40. City Plaza 190 Middle Road 91. Isetan Orchard #02-70 810 Geylang Road #02-18 541 Orchard Road Meridien Shopping Centre #01-88 Fortune Centre Level 2 City Plaza 117. Metro Far East 64. General Motors, Ang Mo Kio Liat Towers 14 Scotts Road 41. Clemenceau Avenue General Motors Singapore Pte Ltd 92. Branch 1 st Storey ringe Carpark Office 'A' 501 Ang Mo Kio Industrial Park I Block 637 Veerasamy Road Far East Plaza 42. Clementi Central Branch 65. General Post Office #01-123-125 118. Metro Golden Mile Block 449 Clementi Avenue 3 Automated Branch (ATM 1) 93. Jalan Eunos Branch 7500D Beach Road #01-243/247 Fullerton Building Block 6 Eunos Crescent Level 2 43. Clementi East Branch 66. General Post Office #01-2647/2649 The Plaza Block 352 Clementi Avenue 2 Automated Branch (ATM 2) 94. Jalan Kayu Branch 119. Metro Grand #01-91 Fullerton Building Block 4 Seletar Road 304 Orchard Road 44. Clementi Town Centre 67. Branch #01-89 5th Storey Lobby between Emporium and Block 95 Aljunied Crescent 95. Jalan Sultan Branch Lucky Plaza NTUC Fairprice at #01-489/491 50 Jalan Sultan 120. Metro Orchard Block 451 68. Geylang West Branch #01-02 25 Scotts Road 45. Clifford Centre Branch Block 53 Sims Place Jalan Sultan Centre 4th Storey 24 Raffles Place #01-170 Holiday Inn #02-18 96. Jardine Steps Clifford Centre 69. Goldhill Centre Branch 2 Maritime Square 121. Metro Supreme Thomson Road Engineering Services Division Penang Road 46. Cold Storage Supermarket, 193-201 World Trade Centre Basement 1 Centrepoint Goldhill Shopping Centre 97. Jurong Bowling Centre Supreme House 176 Orchard Road Yuan Ching Road 122. Ministry of Education Building Basement 1 70. Henderson Road Branch Kay Siang Road Centrepoint Block! 13 Bukit Merah View 98. Jurong East Branch #01-550 1 st Storey 47. Cold Storage Jelita Block 255 Jurong East Street 24 293 Holland Road 71. Hillview Branch #01-301 123. Ministry of Environment Market Block 17 Hillview Avenue 99. Jurong Town Branch Ground Floor 48. Cold Storage Katong #01-1314 Block 106 Yung Kuang Road Maxwell Road 31 Amber Close #01-19/21 Amoy Street Food Centre 3rd Storey 72. Hougang Central Branch 124. Mountbatten Branch Cold Storage Katong Block 204 Hougang Street 21 100. Jurong Town Hall #01-99/101 Old Kallang Airport Road 49. Colombo Court Branch 73. Hougang South Branch Basement 1 2nd Storey 1 North Bridge Road Hawker's Centre #01-01A Block 108 Hougang Avenue 1 101. JTC Kallang Colombo Court #01-1269 164 Kallang Way 125. Mount Vernon Gurkha 74. HDB NC —Ang Mo Kio. Avenue 4 Contingent Building 50. Comcentre Cafeteria 102. Jurong West Branch Vernon Park Exeter Road Between Block 160 and 162 Block 442 Jurong West Avenue 1 2nd Storey Ang Mo Kio Avenue 4 #01-750 126. Nanyang Technological Institute 75. HDB NC —Ang Mo Kio, Avenue 10 Upper 51. Coronation Plaza Branch 103. Kaki Bukit Branch Student's Affairs Department 587 Near Block 409 Ang Mo Kio Avenue 10 Block 632 Bedok Reservoir Road #02-16 76. HDB NC —Bedok North Street 3 #01-824 127. National Development Board Coronation Shopping Plaza Block 511 Bedok North Street 3 National Development Building 104. Kallang Bahru Branch Maxwell Road 52. Crawford Branch 77. HDB NC —Bedok North, Street 4 Block 67 Kallang Bahru 2nd Storey Block 463 Crawford Lane Near Block 85 Bedok North Street 4 #01-469 #01-07 128. National Semiconductor 78. HDB NC — Circuit Road 105. Kampong Silat Branch 1100 Lower Delta Road 53. Dempsey Road Branch Near Block 80 Circuit Road Block 146 Jalan Bukit Merah 14A Dempsey Road #01-1082 129. NTUC (Welcome) Supermarket 79. HDB NC— Ang Mo Kio 54. Empress Place Branch Near Block 112 Depot Road 106. Kandang Kerbau Hospital Block 701 Ang Mo Kio Avenue 3 Government Offices Building 80. HDB NC — Empress Road Hampshire Road #01-2003 55. Esso S.S. Delta Between Block 7 and 8 Empress Road 107. Keppel Shipyard, Telok Blangah 130. NTUC (Welcome) Supermarket River Valley/Jervois Road 81. HDB NC — Haig Road 325 Telok Blangah Road Bukit Ho Swee 56. Far East Levingston Near Block 10 Haig Road 108. Keppel Shipyard's Canteen Block 50 Havelock Road 31 Shipyard Road 82. HDB NC —Holland Drive 1 #01-755 57. Far East Plaza Branch Block 47 Holland Drive 131. NTUC (Welcome) Supermarket Keppel Shipyard 14 Scotts Road 83. HDB NC —Jalan Batu Rochor #03-06/07 Near Block 7 Jalan Batu 109. Khatib Camp Block 3 Rochor Road Far East Plaza Sembawang Road #01-640 84. HDB NC —Marine Terrace 132. NTUC (Welcome) Supermarket 58. Fitzpatricks Ang Mo Kio Near Block 59 Marine Terrace 110. King George's Avenue Branch Block 730 Ang Mo Kio Avenue 6 Block 803 King George's Avenue Serangoon Garden #01-4272 85. HDB NC — Telok Blangah Rise #01-234 9 Portchester Avenue Between Block 36 & 38 Telok Blangah Rise 133. NTUC (Welcome) Supermarket. 153. Printemps Orchard 176. SATS In-Flight Kitchen 201. Upper Pickering Street Branch Toa Payoh 100 Orchard Road SATS Building Block 3 Upper Pickering Street Block 192 Lorong 4 #01-01 Singapore Changi Airport #01-27 Toa Payoh Meridien Shopping Centre 177. SBC, 202. Upper Serangoon Road Branch #01-672 154. PSA Bus Interchange Thomson Road 760B Upper Serangoon Road #01-03 & #02-02 134. NUS Kent Ridge The Food Centre/Bus Terminal 178. Singapore General Hospital Branch Upper Serangoon Shopping Centre Administration Building Telok Blangah Road/Seah Imm Road Block 4 Outram Road 3rd Storey 155. Queenstown Branch Wards Building 203. Upper Thomson Road Branch National University of Singapore 1 Thong Soon Avenue Commonwealth Avenue 179. Singapore Polytechnic Canteen 135. NOL Building Branch 2nd Storey Dover Road 204. West Coast Road Branch Hawker's Centre 456 Alexandra Road Polytechnic Centre Block 501 West Coast Road #01-00 156. Queenstown Community Centre #01-296 NOL Building 180. South Bridge Road Branch 300 Margaret Drive 76 South Bridge Road 205. Whampoa Drive Branch 136. Newton Branch 157. Queenstown Town Centre #01-00 & #02-00 Block 102 Whampoa Drive (Drive-Up ATM) Pedestrian Mall between #01-12 135 Bukit Timah Road 181. Subordinate Court hawker centre and Block 40B Upper Cross Street 206. Woodlands Central Branch 137. Ngee Ann Polytechnic 158. ROV Headquarters 2nd Storey Block 2 Woodlands Town Centre Road, 1st Storey #01-134/136 Students' Centre Canteen 182. Supreme House Branch Sin Ming Industrial Estate 1 st Storey 9 Penang Road 207. World Trade Centre Branch 159. Robinson Road Branch (ATM 1) #01-11/12 1 Maritime Square 138. North Bridge Road Branch 79 Robinson Road Supreme House #01-01 470 North Bridge Road #01-02 World Trade Centre #01-01 183. Taman Warna Branch CPF Building Singapore Finance House Taman Warna/North Buona Vista 208. Yaohan Orchard 68 Orchard Road 160. Robinson Road Branch (ATM 2) 184. Tampines South Branch 139. Orchard Towers Basement 2 79 Robinson Road Block 138 Tampines Street 11 1 Claymore Drive, 1st Level #01-02 Plaza Singapura Orchard Towers (Rear Block) #01-98/100 CPF Building 209. Yaohan Thomson 140. Oriental Bukit Timah 185. Tampines Way Branch 161. School of Basic Military Block 23 Tampines Way 301 Upper Thomson Road Bukit Timah Shopping Centre 2nd Storey Training (SBMT) #01-281 141. Parklane Branch Guard's Room Thomson Plaza 186. Tan Tock Seng Hospital 35 Selegie Road Nee Soon Camp 210. Yishun West Branch #01-06 Moulmein Rise 162. Seletar Camp Block 106 Yishun Ring Road Parklane Shopping Mall Seletar Air Base 187. Tanglin Halt Branch #01-175 Block 39 Tanglin Halt Road 142. Parkway Parade Branch 163. Sembawang Branch 211. Zhu Jiao Branch 80 Marine Parade Road #01-119W 4 Jalan Tampang Block 664 Buffalo Road #01-02 188. Tanjong Katong Branch Off Sembawang Road #01-01/02 Parkway Parade 245 Tanjong Katong Road 20 km SUBSIDIARY COMPANIES 143. Pasir Panjang Ferry Terminal 189. Tanjong Pagar Branch 164. Serangoon Garden Branch 1. Credit POSB Pte Ltd West Coast Highway Block 1 Kee Seng Road 9/9A Kensington Park Road 79 Robinson Road 144. Paya Lebar Airport #01-26/27 #10-00 165. Serangoon Road Branch Departure Building Tanjong Pagar Plaza CPF Building 291 Serangoon Road 1st Storey 190. Telok Blangah East Branch 1st Storey 2. POSB Computer Services Pte Ltd 145. Pearl's Hill Police Headquarters Block 10 Telok Blangah Crescent 73 Bras Basah Road 166. 7 Eleven, Jalan Leban Central Police Station #01-155 #02-00 7 Eleven Store Eu Tong Sen Street POSB Centre 14 Jalan Leban 191. Telok Blangah West Branch 146. Peninsula Plaza Branch Block 81 Telok Blangah Drive 3. POSB Investment Pte Ltd 167. Shell Petroleum 111 North Bridge Road #01-424 73 Bras Basah Road 311 Jalan Ahmad Ibrahim #01-28 #04-00 Jurong 192. Tengah Air Base Peninsula Plaza Chua Chu Kang Road POSB Centre 168. Siglap Branch 147. People's Park Complex 193. Thomson Plaza Branch ASSOCIATE COMPANIES 87 Upper East Coast Road 1. Holdings Pte Ltd 1 Park Road Goodwill Court 301 Upper Thomson Road #01-37 4 Shenton Way 169. Simpang Bedok Branch #19-07 148. Police Academy Thomson Plaza Bedok Road Shing Kwan House Canteen Block (Blk A) #01-314 194. Thomson Road Branch Thomson Road 246R Upper Thomson Road 2. SAL Leasing Pte Ltd Bedok Shopping Complex 50 Raffles Place 1 st Storey 195. Tiong Bahru Branch 170. Singapore Aerospace #13-01 149. POSB Centre Block 28 Tiong Bahru Road Manufacturing Pte Ltd Shell Tower Automated Branch (ATM 1) #01-141/147 503 Airport Road 3. The Discount Company of 73 Bras Basah Road 196. Toa Payoh Central Branch Paya Lebar Airport Singapore Pte Ltd 1 st Storey Block 178 Toa Payoh Central 2nd Storey Canteen 1 Bonham Street #27-02 POSB Centre #01-198/200 150. POSB Centre 171. Singapore Automotive Raffles Place Engineering 197. Toa Payoh Central Post Office UOB Building Automated Branch (ATM 2) Block 187 Toa Payoh Central 5 Portsdown Road 4. Network For Electronic Transfers 73 Bras Basah Road #01-344 1 st Storey 172. SAF NCO Club (Singapore) Pte Ltd POSB Centre Beach Road 1 st Storey 198. Toa Payoh Hospital 10 Shenton Way Toa Payoh Rise 151. Community Centre 173. SAFRA Toa Payoh #11-06 to #11-09 Potong Pasir Avenue 2 293 Lorong 6 Toa Payoh 199. Toa Payoh North Branch MAS Building Block 107 Lorong 1 174. (Pasir Laba) 152. Prince Orchard Branch Toa Payoh Pasir Laba Road 270 Orchard Road #01-266 #01-03 Guard's Room Crown Prince Hotel Pasir Laba Camp 200. Towner Road Branch Block 102 Towner Road 175. SATS Cargo Complex #01-244/246/248 Singapore Changi Airport Ground Floor

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