Asia Seeing Patchy Progress In Y2K Bug Fix

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And now the rest of the story. I wonder how Paul Harvey is is playingthe y2k story? Anybody listening to Paul?

http://dailynews.yahoo.com/headlines/tc/story.html?s=v/nm/19990614/tc/yk_asia_1.html

SINGAPORE (Reuters) - Asia is working feverishly to ensure its computer systems will withstand a switchover in dates that many fear could trigger havoc.

But progress is mixed, ranging from Singapore, which received a top rating on its preparations, to China, which concedes remedies for the Year 2000 (Y2K) problem have been hampered by a lack of funds and inadequate coordination.

Monday, computer users throughout the world will have 200 days left to get their systems ready for the new millennium.

Asia has been especially challenged in its Y2K preparations due to a two-year-old regional economic crisis that swept many countries into recession. Glimmers of recovery are now being seen.

The Y2K ``bug'' is a problem involving how dates are read by computers and computer systems. For space-saving reasons, dates on older systems were designated by two spaces for the years. The concern is that the ``00'' in the year 2000 could be misread as the year 1900, causing computers to break down or send wrong data.

Asian government officials in charge of Y2K preparations are expressing cautious optimism that crucial services will be operational and economic impact minimal.

``The chance of things like a collapse in infrastructure -- like electricity, gas, water, communications -- on January 1, 2000, or Y2K issues making any noticeable impact on the nation's gross domestic product is very unlikely,'' said Takeo Shiina, head of Japan's advisory panel on millennium compliance, in an interview with Reuters in April.

But occasionally, there may be the case where the medicine hurts the patient. India's National Stock Exchange had to temporarily discontinue the preopen and closing sessions on June 9 after new Y2K compliant software installed two days prior caused trading delays.

The following is a country-by-country status report on Y2K preparations:

JAPAN

A major concern is slow progress by small- and medium-sized enterprises, of which 23 percent said at the end of March that they were still not Y2K ready versus 33 percent last September.

Government budget for Y2K preparation totals 19.3 billion yen ($163 million).

At the end of May, the Bank of Japan said major Japanese banks had completed technical preparations to cope with the 2000 problem. The findings were based on a survey of 50 banks.

CHINA

In April, senior government officials said Y2K remediation was hampered by lack of funds and inadequate coordination.

The government is considering closing banks on December 31.

Telecommunications and the national power grid are expected to be operable after new year, and the military has own internal Y2K compliance program.

In June, China said its banks, credit cooperatives, postal savings offices and insurance firms will halt operations three times between June and September to conduct millennium tests.

SINGAPORE

Is one of only two countries among some 48 to receive the top rating for Y2K readiness by the Global 2000 Coordinating group. Singapore was given the ``all-green rating'' after a survey of six key sectors including telecoms, transport and basic utilities.

Some 90 percent of Singapore's government systems are already compliant, and all government agencies are in the process of finalizing contingency plans for Y2K.

INDONESIA

The worst-hit country in the crisis, Indonesia has struggled for funds to survive, let alone repair computer problems.

State-owned oil giant Pertamina expects to run its refineries at 60-70 percent capacity for a few days in December and boost stocks of crude and oil products from October as a precaution against any disruptions caused by Y2K.

INDIA

The government is actively working to resolve the problem on time, the National Association of Software and Service Companies said in June. The government's department of telecommunications is expected to run bug-free systems by August 31, 1999.

The power sector is not expected to face any major glitches. The railway sector is expecting to fully complete its Y2K preparations by September 1999.

PHILIPPINES

Deadline for banking full compliance is June 30, 1999, and for all other sectors is September 30, 1999.

``I'm confident that the Philippines will weather this storm. We will see to it that back-up systems are there and see to it that business goes on and all the effects of the millennium bug will be minimized,'' Amable Aguiluz, chairman of Year 2000 Compliance Commission, told Reuters in February.

In a May 25 report, the Presidential Commission on Year 2000 compliance ranked the progress of Y2K projects according to sectors.

Most prepared was finance, with a Y2K project progress rate of 81 percent, least was healthcare at 55 percent. Target date for completion is June or September, depending on the sector.

SOUTH KOREA

If all testing of critical sector computer systems is completed successfully by August, South Korea will have finished 80 percent of its preparedness program.

THAILAND

Commercial banks are 80 percent ready, the highest figure among Thai listed company sectors. Most companies are undergoing testing, expected to be completed by the end of the second or third quarter.

HONG KONG

The government's most critical systems are on track for full compliance by June 30. Telecoms and electric systems are all at least 50 percent ready.

MALAYSIA

In an interview in April the minister for energy, telecommunications and multimedia, Leo Moggie, said the government was receiving a World Bank loan of $100 million for Y2K remediation.

Power company Tenaga Nasional Bhd has successfully tested the national grid system under Y2K conditions three times.

State-controlled telecoms firm Telekom Malaysia Bhd has tested its phone network and is about 70 percent ready. It expects to be fully compliant by end-June.

Areas lagging include small hospitals and companies in consumer industries.

AUSTRALIA

Has spent nearly A$19 billion ($12.63 billion) to prevent Y2K problems. Remediation and internal testing of critical systems at banks and finance companies has been largely completed. Telecoms networks are more than 85 percent compliant, with the remainder to be completed by the end of the third quarter.

NEW ZEALAND

A government report on Y2K readiness released in February says many key departments including medical, police, defense and civil aviation have not done enough to prepare.

A government report on Y2K readiness released on June 4 said state-owned power, media and postal firms with a high degree of exposure to Y2K problem have reached an appropriate stage of readiness.

($1-118.38 Yen)

($1-1.504 Australian Dollar)

-- y2k dave (xsdaa111@hotmail.com), June 14, 1999

Answers

Dave

I stopped listening to Paul Harvey years ago. Is he still alive?

Good post, good information. Thanks

-- Mike Lang (webflier@erols.com), June 14, 1999.


Mike,

I did hear Paul this year so I think he's still alive. I believe he is mostly on the AM dial. Only FM and soon to be short wave for me.

-- y2k dave (xsdaa111@hotmail.com), June 15, 1999.


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