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Singapore shipments down 21%! SINGAPORE'S exports plunged 20.8 per cent last month - the biggest fall in almost seven years - to cap a dismal end to 2008. Another development: THE National Wages Council (NWC) wants companies hit by the worsening economic slump to introduce a wage freeze or pay cut to minimise layoffs, which are expected to surge after Chinese New Year. SINGAPORE will revise its growth figures again ahead of Thursday's Budget announcement. This second revision within a month is prompted by unexpected developments, he said, citing the steep fall in Singapore's December trade figures which show the economy of its major trading partners has taken a turn for the worse.