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Page 1 of 10
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2 )*
---------
POLICY MANAGEMENT SYSTEMS CORPORATION
--------------------------------------------------------
(Name of Issuer)
COMMON STOCK
--------------------------------------------------------
(Title of Class of Securities)
731108106
--------------------------------------------------------
(CUSIP Number)
Government of Singapore Investment Corporation Pte Ltd
250 North Bridge Road #38-00, Raffles City Tower
Singapore 179101 Attn: Ms Seah Wan Hoon(Tel:3308661)
--------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
2 Aug 96
--------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box / /.
Check the following box if a fee is being paid with this statement / /. (A
fee is not required only if the reporting person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.
(See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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SCHEDULE 13D
CUSIP No. 731108106 Page 2 of 10 Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Government of Singapore Investment Corporation Pte Ltd
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /x/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
OO
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Singapore
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power Nil
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 1,541,710
--------------------------------------------------
(9) Sole Dispositive
Power Nil
--------------------------------------------------
(10) Shared Dispositive
Power 1,541,710
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
1,541,710
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
8.23%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
OO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 731108106 Page 3 of 10
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Government of Singapore
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /x/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
OO
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Singapore
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power Nil
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 1,156,510
--------------------------------------------------
(9) Sole Dispositive
Power Nil
--------------------------------------------------
(10) Shared Dispositive
Power 1,156,510
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
1,156,510
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
6.17%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
OO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 731108106 Page 4 of 10
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Monetary Authority of Singapore
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /x/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
OO
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Singapore
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power Nil
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 325,900
--------------------------------------------------
(9) Sole Dispositive
Power Nil
--------------------------------------------------
(10) Shared Dispositive
Power 325,900
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
325,900
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
1.74%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
OO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 731108106 Page 5 of 10 Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Board of Commissioners of Currency, Singapore
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /x/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
OO
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Singapore
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power Nil
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 59,300
--------------------------------------------------
(9) Sole Dispositive
Power Nil
--------------------------------------------------
(10) Shared Dispositive
Power 59,300
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
59,300
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0.32%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
OO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 6 of 10 Pages
ITEM 1. SECURITY AND ISSUER
Security Policy Management Common Stock
Corporation
Address One PMS Center
P.O. Box 10
Columbia, SC 29202
ITEM 2. IDENTITY AND BACKGROUND
(a) Government of Singapore Investment Corporation Pte Ltd
a government agency
(b) 250 North Bridge Road
#38-00 Raffles City Tower
Singapore 179101
(c) Investment Manager
(d) N.A.
(e) N.A.
(f) N.A.
II
(a) Government of Singapore
(b) c/o Government of Singapore Investment Corporation Pte Ltd
250 North Bridge Road
#38-00 Raffles City Tower
Singapore 179101
(c) Government
(d) N.A.
(e) N.A.
(f) N.A.
III
(a) Monetary Authority of Singapore
(b) c/o Government of Singapore Investment Corporation Pte Ltd
250 North Bridge Road
#38-00 Raffles City Tower
Singapore 179101
(c) Central Bank
(d) N.A.
(e) N.A.
(f) N.A.
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Page 7 of 10
IV
(a) Board of Commissioners of Currency, Singapore
(b) c/o Government of Singapore Investment Corporation Pte Ltd
250 North Bridge Road
#38-00 Raffles City Tower
Singapore 179101
(c) Currency Board
(d) N.A.
(e) N.A.
(f) N.A.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Source of Funds: Foreign Reserves
Amount: USD63,198,885.75
ITEM 4. PURPOSE OF TRANSACTION
Purpose of Acquisition: Investment
None of the reporting persons (nor any of its executive officers or directors,
controlling persons or any executive officer or director of any such controlling
person) has any plans or proposals relating to paragraphs (a) through (j) of
Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) and (b) The aggregate number of shares and percentage of Common Stock of
the Issuer beneficially owned by each Reporting Person named in Item 2, as well
as the number of shares of Common Stock as to which such person is deemed to
have sole power to vote or to direct the vote, shared power to vote or to direct
the vote, sole power to dispose or to direct the disposition, or shared power to
dispose or direct the disposition, is set forth in the following table.
<TABLE>
<CAPTION>
No. of Shares Power to Vote Power to Dispose
Beneficially
Person Owned Sole(1) Shared(1) Sole(1) Shared(1)
- ------ ------------- ------- --------- ------- ---------
<S> <C> <C> <C> <C> <C>
Government of Singapore 1,541,710 0 1,541,710 0 1,541,710
Investment Corporation Pte Ltd
Government of Singapore 1,156,510 0 1,156,510 0 1,156,510
Monetary Authority of Singapore 325,900 0 325,900 0 325,900
Board of Commissioners of 59,300 0 59,300 0 59,300
Currency, Singapore
Total(2)
(all Reporting Persons) 1,541,710 0 1,541,710 0 1,541,710
</TABLE>
- --------------------------------------
(1) The Government of Singapore Investment Corporation Pte Ltd shares power to
vote and power to dispose of the 1,156,510 shares of Common Stock beneficially
owned by it with the Government of Singapore, shares power to vote and power to
dispose of the 325,900 shares of Common Stock beneficially owned by it with the
Monetary Authority of Singapore and shares power to vote and power to dispose of
the 59,300 shares of Common Stock beneficially owned by it with the Board of
Commissioners of Currency, Singapore.
(2) The reporting persons disclaim membership in a group.
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Page 8 of 10
(c) The following transactions were effected during the past 60 days:
TRADE DATE QUANTITY UNIT PRICE
Government of Singapore Investment Corporation Pte Ltd
- -----------------------------------------------------
Nil
Government of Singapore
- -----------------------
20.06.96 BOT 3,100 53.875
24.06.96 BOT 1,100 52.125
03.07.96 BOT 4,000 49.300
05.07.96 BOT 1,000 49.050
08.07.96 BOT 15,000 47.675
08.07.96 BOT 52,000 47.750
09.07.96 BOT 18,000 47.750
10.07.96 BOT 34,000 47.644
11.07.96 BOT 50,000 46.677
12.07.96 BOT 3,500 46.500
16.07.96 BOT 1,000 43.750
22.07.96 BOT 3,500 44.000
30.07.96 BOT 10,200 37.796
02.08/96 BOT 14,800 38.435
05.08/96 BOT 11,600 38.300
06.08/96 BOT 2,500 37.675
Monetary Authority of Singapore
- -------------------------------
02.07.96 BOT 2,900 59.500
08.07.96 BOT 20,000 47.750
09.07.96 BOT 4,000 47.750
10.07.96 BOT 9,000 47.644
11.07.96 BOT 12,000 46.677
12.07.96 BOT 1,500 46.500
22.07.96 BOT 600 44.000
29.07.96 BOT 5,900 41.500
30.07.96 BOT 6,900 37.796
Board of Commissioners of Currency, Singapore
- ---------------------------------------------
20.06.96 SOLD 3,100 53.875
24.06.96 SOLD 1,100 52.125
08.07.96 BOT 3,000 47.750
09.07.96 BOT 3,000 47.750
10.07.96 BOT 1,100 47.644
11.07.96 BOT 4,100 46.677
(d) N.A.
(e) N.A.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
N.A.
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Page 9 of 10
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
1. Power of Attorney of Government of Singapore dated 1 Sep 93.
2. Power of Attorney of Monetary Authority of Singapore dated 14 Aug 93.
3. Power of Attorney of Board of Commissioners of Currency, Singapore
dated 16 Aug 94.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
August 22, 1996 Government of Singapore Investment
- --------------- Corporation Pte Ltd
Date
by /s/ Seah Wan Hoon
---------------------------------
Senior Officer
Government of Singapore
by Government of Singapore Investment
Corporation Pte Ltd, its attorney-in-fact
by /s/ Seah Wan Hoon
---------------------------------
Senior Officer
Monetary Authority of Singapore
by Government of Singapore Investment
Corporation Pte Ltd, its attorney-in-fact
by /s/ Seah Wan Hoon
---------------------------------
Senior Officer
Board of Commissioners of Currency, Singapore
by Government of Singapore Investment
Corporation Pte Ltd, its attorney-in-fact
by /s/ Seah Wan Hoon
---------------------------------
Senior Officer
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Page 10 of 10
EXHIBIT INDEX
Exhibit No. Name of Exhibit Page No.
- ----------- --------------- --------
1 Power of Attorney executed by Government of -
Singapore dated 1 Sep 93 (*)
2 Power of Attorney executed by Monetary -
Authority of Singapore dated 14 Aug 93 (*)
3 Power of Attorney executed by Board of -
Commissioners of Currency, Singapore dated
16 Aug 94 (+)
* Incorporated by reference to Reporting Persons' filing with the
Securities and Exchange Commission on Schedule 13D with respect
to the issue on 15 Oct 93.
+ Incorporated by reference to Reporting Persons' filing with the
Securities and Exchange Commission on Schedule 13D with respect
to the issue on 5 Oct 94.
