PRESS DIGEST - Singapore newspapers - May 26

SINGAPORE, May 26 (Reuters) - The following are stories from Singapore newspapers on Monday. Reuters has not verified these stories.

THE STRAITS TIMES

- Parliament is expected to hear today (Monday) about what disciplinary action has been taken against detention centre guards, staff and any others found responsible for the escape of Jemaah Islamiah leader Mas Selamat. Action can range from dismissal to retirement in the public interest, reprimands and penalties such as fines. The 47-year-old terrorist leader escaped from the Whitley Road Detention Centre on Feb 28. He had been held there under the Internal Security Act since March 2006.

- OCBC Bank (OCBC.SI) is planning to issue as much as S$1 billion ($737 million) of securities known as preference shares - and retail investors may get a big bite of the offering, sources say. Unlike DBS Bank's recent $1.5 billion preference share issue, which was open only to institutional investors, OCBC does not intend to leave small investors out in the cold.

BUSINESS TIMES

- As Wall Street continued on its sharp descent in the first quarter of this year, Singapore investors went on a massive buying spree - picking up a net US$11 billion worth of US corporate stocks. Latest figures from the U.S. Treasury showed that while other traditional investors on Wall Street grew nervous, winding down their purchases or dumping their holdings, Singapore investors gained confidence.

- Most Singapore firms view their Chinese counterparts as their strongest rivals, a survey has found. In the latest BT-UniSIM Business Climate Survey - which polled 120 firms, 73 of which have business overseas - China emerged as the country where their strongest business rivals are located.