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Page 1 of 10
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3 )*
---------
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)
5 Aug 97
--------------------------------------------------------
(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 the 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 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Government of Singapore Investment Corporation Pte Ltd
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) / /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Singapore
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
Nil
NUMBER OF --------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 1,148,520
EACH --------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH Nil
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,148,520
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,148,520
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.31%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 731108106 Page 3 of 10 Pages
--------- --- ----
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Government of Singapore
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) / /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Singapore
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
Nil
NUMBER OF --------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 939,820
EACH --------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH Nil
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
939,820
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
939,820
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.17%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 731108106 Page 4 of 10 Pages
--------- --- ----
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Monetary Authority of Singapore
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) / /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Singapore
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
Nil
NUMBER OF --------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 196,900
EACH --------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH Nil
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
196,900
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
196,900
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.08%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
CUSIP No. 731108106 Page 5 of 10 Pages
--------- --- ----
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Board of Commissioners of Currency, Singapore
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) / /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Singapore
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
Nil
NUMBER OF --------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 11,800
EACH --------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH Nil
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
11,800
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,800
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.06%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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Page 6 of 10
ITEM 1. SECURITY AND ISSUER
Security : Policy Management Systems 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 : USD47,145,815.67
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.
No of Shares Power to Vote Power to Dispose
Beneficially
Person Owned Sole(1) Shared(1) Sole(1) Shared(1)
- ------ ------------ ------- --------- ------- ---------
Government of Singapore 1,148,520 0 1,148,520 0 1,148,520
Investment Corporation
Pte Ltd
Government of Singapore 939,820 0 939,820 0 939,820
Monetary Authority of 196,900 0 196,900 0 196,900
Singapore
Board of Commissioners 11,800 0 11,800 0 11,800
of Currency, Singapore
Total(2)
(all Reporting Persons) 1,148,520 0 1,148,520 0 1,148,520
- -------------------------
(1) The Government of Singapore Investment Corporation Pte Ltd shares power
to vote and power to dispose of the 939,820 shares of Common Stock
beneficially owned by it with the Government of Singapore, shares power to
vote and power to dispose of the 196,900 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 11,800 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
10.06.97 SOLD 29,300 52.1708
12.06.97 SOLD 8,000 52.6800
23.07.97 SOLD 27,300 50.2502
31.07.97 SOLD 25,700 54.5094
01.08.97 SOLD 24,000 54.0121
01.08.97 SOLD 4,200 54.0938
04.08.97 SOLD 6,000 54.0350
04.08.97 SOLD 1,300 54.0625
05.08.97 SOLD 98,000 54.3426
06.08.97 SOLD 73,000 55.3054
MONETARY AUTHORITY OF SINGAPORE
10.06.97 SOLD 7,300 52.1708
12.06.97 SOLD 2,000 52.6800
23.07.97 SOLD 5,400 50.2502
31.07.97 SOLD 5,000 54.5094
01.08.97 SOLD 3,900 54.0121
04.08.97 SOLD 3,000 54.0350
05.08.97 SOLD 16,000 54.3426
06.08.97 SOLD 12,000 55.3054
BOARD OF COMMISSIONERS OF CURRENCY, SINGAPORE
14.07.97 SOLD 9,000 48.8750
04.08.97 SOLD 1,700 54.0350
05.08.97 SOLD 4,000 54.3426
06.08.97 SOLD 3,000 55.3054
(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 15, 1997
- --------------- Government of Singapore Investment
Date Corporation Pte Ltd
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.
