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Sunday, January 20, 2008

News : Myanmar opposition asks junta for Suu Kyi meeting

YANGON (AFP) - Myanmar's opposition National League for Democracy (NLD) on Friday urged the ruling junta to allow its detained leader Aung San Suu Kyi to meet senior party members.

The NLD also repeated its call for the military to free Aung San Suu Kyi and her deputy Tin Oo, and said the junta should allow senior party members to meet them while they are in detention.

"The authorities should allow these two leaders and other central executive committee members to meet so they can discuss freely," the party said in a statement.

Nobel Peace Prize winner Aung San Suu Kyi has spent 12 of the past 18 years under house arrest at her rambling lakeside home in Yangon, deprived of almost all contact with the outside world.

Amid stiff international pressure on the regime following its deadly crackdown on pro-democracy protests in September, the junta appointed Labour Minister Aung Kyi to coordinate official contacts with her.

The two have met four times since the military opened fire on peaceful protesters in the streets of Yangon, leaving at least 31 dead and 74 missing, according to a UN report.

- Borneo Weekwnd Online January 19, 2008 -

Saturday, January 5, 2008

News : Singapore's Changi eyes stakes in 10-15 Asian airports

by Reuters

SINGAPORE: Singapore's Changi Airports International aims to spend up to $700 million within the next five years on stakes in 10 to 15 airports in the region to strengthen its Asian presence, its chief said on Saturday.

"Over the next three to five years, we hope to spend roughly $600-700 million ... We're working on five regions: China, India, the Middle East, Russia and Vietnam," Chief Executive Chow Kok Fong told media.

Changi Airports already has a presence in China, Russia and India. It paid $138 million last January for 29 per cent of China's Nanjing Lukou International Airport, and has management contracts with airports in Russia and India.

In July, it entered a joint venture with China's Shenzhen Airport Group to invest in and manage up to 50 airports in China. Globally, airports such as Germany's Fraport, Amsterdam's Schiphol Group and South Korea's Incheon International are also seeking stakes in airports in emerging markets like India, the Middle East, and China to benefit from their rapid growth.

Changi Airports is the overseas investment arm of the Civil Aviation Authority of Singapore, which owns and operates the city-state's Changi Airport.
- The Economic Times January 05, 2008 -

News : E. Timor: IOC, Oil India may partner Reliance Ind

Block record

E. Timor block, spread over 2,384 sq km, has proven reserves.

IOC, OIL each looking at 12.5% equity stake in project.

Participating interest also includes sharing risks involved.

Farm-in activity is common among global oil exploration cos

by Richa Mishra

New Delhi, Dec. 30 Decks have been cleared for two of India’s large oil sector companies, Indian Oil Corporation and Reliance Industries Ltd, to jointly undertake oil and gas exploration abroad.

IOC, along with Oil India Ltd, is now expected to join hands with RIL for exploration in the latter’s oil block in East Timor.

Both the State-owned companies have obtained approval from their respective Boards to acquire equity in RIL’s asset as farm-in partners.

The two companies will now work on a final agreement with RIL. Official sources told Business Line that “the IOC Board which met on Friday approved its participation in the project. OIL Board has already given its nod. The approval of the respective Boards was taken after the technical teams of IOC and OIL expressed satisfaction on the data made available by RIL.”

Stake Count

Indications are that both IOC and OIL are looking at an equity stake of 12.5 per cent each in the project. RIL will hold a majority stake in the block and will be the operator of the area which is spread over 2,384 sq km.

In May 2006, RIL had won a block in East Timor. RIL had bid for two of the 11 offshore blocks tendered by East Timor, but could manage only one contract area. The company had bid for area ‘K’ and area ‘E’, but won only the former.

RIL has now signed an agreement to explore for oil and gas in East Timor and it will explore the offshore area in contract area ‘K’ that has proven reserves in the Australian North West Shelf and is adjacent to the Timor Sea.

This region contains discoveries such as Bayu-Undan (commenced production in 2004) and Greater Sunrise.

Farm in Activity

The State-owned companies have been in talks with RIL for farm-in opportunities for them in the existing overseas assets of RIL.

A farm-in activity, which is very common among global oil and gas exploration companies, allows an entity to come in as a partner.

As a farm-in partner, a company is not required to acquire the asset directly, but develop the property by taking participating interest in the block.

The company also shares the risk involved in the exploration activity with the operator.

Currently, IOC has seven overseas assets (excluding the recent gas blocks acquired in Libya) through consortium approach.

- Business Line December 30, 2008 -

News : Panic buying and rumours of price increases blamed

POH: Panic buying as a result of rumours of price hikes has been identified as the cause of a shortage in cooking oil and flour in Perak.

State Domestic Trade and Consumer Affairs Department director Ahmad Nasir Khosri said checks showed that there was ample supply of the two items in the state.

Speaking to reporters after meeting manufacturers, re-packers and hypermarkets here, Ahmad Nasir said consumers should continue to buy according to their needs.

Ahmad Nasir also noted that there were consumers in Perak who bought additional cooking oil and flour for their relatives in neighbouring states following reports of shortages there.

He urged consumers to call the department hotline at 05-249 3403 if they were facing a shortage in their area.

In Malacca, state human resource, health and domestic trade and consumer affairs committee chairman Datuk Ab. Karim Sulaiman said the shortage of cooking oil in the state was expected to be over within two days.

In Penang, State Domestic Trade and Consumer Affairs Committee chairman Lau Chiek Tuan said there would be ample supply of cooking oil in a few days.

He said that after the higher demand during the recent Deepavali and Hari Raya, cooking oil re-packers “now have 100% of their subsidised cooking oil quota for January.”

The people should thus avoid panic buying, said Lau.

In Alor Star, some retailers had to go all out to get enough supply for their customers.

Retailer Mohd Kamil Abdul Majid, 53, who operates a sundry shop in Pekan Bukit Pinang in Kepala Batas here, said he had been experiencing cooking oil shortage for about a month.

“If I get it from other retail shops, my profit is only 10 sen. If I source from wholesalers, my profit is 20 sen a packet,” he said, adding that cooking oil was sold at RM2.70 per packet.

- The Star Online January 05, 2008 -

News : 5kg buying limit on cooking oil

by MAZWIN NIK ANIS, SYLVIA LOOI, SIRA HABIBU, CAROLYN OOI and STEVEN DANIEL

PUTRAJAYA: Five kilograms – that is the maximum amount of cooking oil that each consumer can buy when a move to solve the shortage of the essential item is enforced next week.

Domestic Trade and Consumer Affairs Minister Datuk Shafie Apdal however did not specify when the move would be implemented to increase stocks of cooking oil, especially in areas like Kelantan, Pahang, Malacca, Kedah and some parts of the Klang Valley where the shelves are getting bare.

Shafie said that while manufacturers have been instructed to increase production from 48,000 tonnes to 53,886 tonnes a month, the restriction in purchase was necessary to ensure there would be no hoarding or panic buying.

He said the ruling would not only apply to those buying cooking oil in hypermarkets or supermarkets but also in smaller retail outlets and grocery stores.

One reason for the shortage was industrial users buying cooking oil in small packets, which is subsidised by the Government, instead of buying it in larger quantities, he said.

He added that smuggling also contributed to the shortage and that the ministry had alerted enforcement agencies at the country’s borders to conduct strict surveillance to prevent cooking oil from being taken out of the country.

“The shortage has also occurred because of the rising population. There are also more businesses such as food production factories and restaurants being opened that use a lot of cooking oil.

“With the restriction in place and the increase in production, we hope to be able to solve the shortage within a week or two.

“At the same time, the ministry will study other measures, including stopping leakages in the distribution system to prevent the problem from recurring,” he told a press conference yesterday.

Asked if the increase in production was permanent or whether the ministry would order an increase again should the problem persist, Shafie said he would have to gauge the results before making decisions.

Last year, the ministry directed 23 cooking oil manufacturers to increase output to 48,000 tonnes a month, an increase of an additional 3,000 tonnes a month.

- The Star Online January 05, 2008 -

News : Philippine military arrests Abu Sayyaf sub-commanders

The Philippine military says two Abu Sayyaf sub-commanders involved in attacks and kidnappings have been arrested in the southern province of Zamboanga.

Shirley Escalante reports that military officials have arrested Tuatin Anahalul on the strength of an arrest warrant for kidnapping and a siege.

He was allegedly involved in the kidnapping of locals and foreigners which included an American tourist and two American missionaries in Palawan province, and in a subsequent attack by the Abu Sayyaf in a hospital in the province of Basilan.

He had a 48,000 US dollar-bounty for his capture.

Anahalul's arrest led to the capture of another sub-leader of the Abu Sayyaf who was reportedly involved in raids staged by the bandit group in 1995 and 2001, and was a former henchman of the late Abu Sayyaf leader Hamsiraji Sali.

Security officials report that the membership of the Abu Sayyaf has declined to 379 at the end of 2007, from almost 500 in 2006.
- ABC Radio Australia January 05, 2008 -

Friday, January 4, 2008

News : Tata, VW mull car making in Thailand

by Reuters

MUMBAI/FRANKFURT - Tata Motors, India’s top vehicle maker, and Volkswagen have submitted applications to build assembly plants in Thailand, the latest car makers to answer the country’s call for fuel-efficient "eco" car factories.

Tata Motors, also India’s number three car maker, already has a venture with Thai truck-maker Thonburi to assemble pick-up trucks and other vehicles, and has said it planned to use the country as a manufacturing base to expand its sales in southeast Asia.

"Tata Motors has submitted a proposal, the details of which are confidential at this stage," a spokesman said.

The Economic Times said in an unsourced report on Friday the company, which has been named as the front-runner to buy Ford Motor’s Jaguar and Land Rover brands, would invest 8-9-billion rupees ($200m-$230m) in the plant.

Tata Motors would assemble a new low-cost car at the plant and also build a component hub, the newspaper said citing industry sources. It said Thailand would consider the proposal next week.

The spokesman for Tata Motors, which is scheduled to unveil a car priced at $2,500 next week, declined comment on the report.

Volkswagen scrapped plans to partner with Malaysian state-owned car maker Proton in November but still aims to build up a production base in the ASEAN market, and confirmed its interest in Thailand’s eco car programme.

"We have submitted an application around mid-December," a spokesman for VW said. He said that Thailand was not the only site it was considering in an economic region that also includes large markets like Indonesia, Vietnam and the Philippines.

ASEAN also groups Thailand, Malaysia, Singapore, Brunei, Myanmar, Cambodia and Laos.

The Bangkok Post reported earlier this week that VW applied for approval to invest 27-billion Thai baht ($806,9 million), a figure the VW spokesman declined to comment on, in a factory that would build 100 000 units annually, 65% of which would be exported.

Toyota Motor, Honda and Suzuki Motor have announced plans to make fuel efficient eco cars in Thailand, which has offered tax breaks, duty exemptions and other incentives if manufacturers invest a minimum 5-billion baht ($150m) and produce 100 000 units by the fifth year of operations.

Tata Motors’ venture with Thonburi is to build up to 35 000 one-tonne pick-up trucks a year over the next three to five years.

- Business Day Januari 04, 2008 -


Thursday, January 3, 2008

News : India's Wipro opens Philippine outsourcing center

by Agence France-Presse

BANGALORE, India -- Wipro, India's third-biggest software maker, said it had opened an outsourcing center Thursday in the Philippines as surging costs and a domestic talent shortage drive Indian technology firms overseas.

The 45,000-square-foot (4,180.6-square-meter) facility in Cebu city will eventually be staffed by 900 employees, Bangalore-based Wipro said.

The center will provide customer service as well as technical and financial accounting support to Wipro's global operations.

"The Philippines is one of the largest English-speaking nations with a strong information-technology orientation and a talent pool of 29 million," said T.K. Kurien, president of Wipro's outsourcing unit.

"This is one location that we definitely want to expand our presence in," Kurien said in a statement in Bangalore.

The Philippines is emerging as a key outsourcing location for Indian technology firms.

Investment advisory firm Tholons said in a recent report that Manila was among the top five prime outsourcing locations and Cebu an emerging destination for outsourcing firms.

The study cited the availability of skilled professionals and lower costs as among the advantages offered by such destinations as Cebu.

Indian information-technology firms such as Tata Consultancy, Infosys, Wipro, Satyam and smaller companies are stepping up acquisitions and opening more facilities overseas.

They have plans to employ thousands of people to escape the rupee's rise against the dollar and soaring wage costs in India.

The rupee rose more than 12 percent against the dollar in 2007, eroding export revenues.

The IT industry's average annual salary rose 11 percent last year to 620,000 rupees ($15,700), a survey by the market-research firm IDC India said in September.

Wipro, whose outsourcing arm employs about 20,000 people, has opened facilities in Romania and Shanghai in the past nine months.

- Inquirer January 03, 2008 -

News : China`s Suzhou Industrial park to build economic zone in Laos

by Asia Pulse

Beijing (ANTARA News/Asia Pulse) - The National Development and Reform Commission (NDRC) has issued approval for the Suzhou Industrial Park in east China's Jiangsu Province to build a special economic zone in Laos.

The Suzhou Industrial Park Overseas Investment Co Ltd will build a joint venture economic zone in Vientiane, Laos, according to sources with the NDRC. The company will make use of the successful experience of the Suzhou Industrial Park in the fields of planning, construction, management and attracting investment in building the zone in Laos.

The Suzhou Industrial Park, an important cooperation project between Chinese and Singapore governments, was launched in 1994.
- Antara News Januari 02, 2008 -

News : Gusmao gives rebel chance to surrender

by Mark Dodd

East Timor Prime Minister Xanana Gusmao will offer renegade army major Alfredo Reinado one more chance to surrender or face arrest, an option diplomats warn could carry considerable risk for Australia.

Diplomatic sources in Dili told The Australian a final peace offer by Mr Gusmao would be conveyed to the former military police commander within weeks.

But Major Reinado, wanted on charges of fomenting civil unrest and possession of firearms, has a new ally in former soldiers who have formed a protest group known as "petitioners".

Sources close to Mr Gusmao say his patience has run out with Major Reinado after he spurned two other peace offers in November and last month.

"Don't play with me, because sooner or later I will get angry," Mr Gusmao warned Major Reinado just before Christmas.

A 1000-strong Australian and New Zealand International Stabilisation Force has responsibility for the military in East Timor.

However, any request by the East Timor Government for their help would have to be carefully considered after last year's failed effort, which cost five Timorese lives and resulted in a community backlash against the Australian peacekeepers.

The East Timor Defence Force (F-FDTL) is understood to be reluctant to take on an enforcement role against Major Reinado.

"Politically, he's a much tougher egg to crack now he's got the petitioners," said one senor Western intelligence analyst based in Dili. "He now has several hundred (570) petitioners thinking he's the man, and those petitioners have very strong support in the western districts."

The petitioners, almost all western-born Loromonu people, comprise soldiers who mutinied in 2006 over claims they were unfairly treated by ethnic eastern-born commanders.

- The Australian Januari 03, 2008 -

News : Timor Leste president tells country to forget past, unite in peace


by AFP /ls

DILI : Timor Leste's president Jose Ramos-Horta called for the country to "forget bad things" and unite during a "Peace Concert" in the capital Dili on Saturday.

He made his plea at the city's National Stadium, where 2,000 people had gathered for a "cultural and music programme promoting peace and national unity", according to a government statement. The crowd had arrived there following a "Walk of Peace".

"Let us forget bad things that happened in the past that divide and hurt us and let us unite in peace and love so we can advance to a better future," President Ramos-Horta said in his Christmas message on stage.

During the event local bands and a group from Indonesia performed in front of thousands of people wearing white t-shirts with the word "Dame" -- meaning Peace in the local language Tetum.

Prime Minister Xanana Gusmao separately told reporters his government "promises in 2008 to overcome problems in this country and maintain stability... this is important for the success of this country".

In 2006, Timor Leste was rocked by clashes between security force factions which quickly degenerated into street violence involving gangs. The crisis prompted the deployment of thousands of international peacekeepers to restore calm.

Timor Leste, a former Portuguese colony, was separated from Indonesia following a 1999 independence vote marred by deadly violence inflicted by the Indonesian military and its militia allies.

- CNA December 23, 2007 -

News : MITP: Tuna offers huge potential

by Eileen Hee

TUNA is a big business and can play a significant role as a catalyst for the nation's economic growth.

Malaysian International Tuna Port (MITP) Sdn Bhd chief executive director Datuk Annuar Zaini Binyamin said the industry had tremendous potential.

“The industry is estimated to worth RM40bil, with a total industry volume of 6.2 million tonnes per year,” he told StarBiz in an interview.

“In recent years, tuna has become more than just a basic food item. Its high nutritional value has led to increased consumption and popularity, especially with the opening of sushi bars in major cities worldwide,” Annuar said.

He added that global tuna consumption was about RM100bil a year. However, he said Malaysia was lagging in tapping this lucrative industry.

While Malaysia's tuna export was estimated at only RM60mil annually, Annuar said MITP, through its various initiatives, planned to catch up with other Asian tuna players like Thailand, Singapore and Indonesia.

He said some of the initiatives to develop the tuna industry would be to expose Malaysia as a viable landing and export hub to international commercial tuna vessels.

“MITP has been participating aggressively in international conferences and exhibitions involving some of the biggest players in the global tuna market,” Annuar said.

He said MITP would also invest in machineries for the catching, shipping, trading and exporting of tuna.

On the outlook for the tuna industry, Annuar said consumption and production in Asia was not a novel venture.

“In traditional Japanese and Taiwanese communities, tuna has formed a major part of their diet and subsistence for over 1000 years,” he said.

Since 1950s, Japan and Taiwan have been the biggest fresh and chilled tuna producers and consumers in the world, defeating traditional counterparts in Western Europe where tuna has been traded commercially from as early as the 18th century.

“Globally, tuna consumption, catch and production has been a prominent industry in Spain, Germany and Italy, with Spain being the third-biggest canned tuna producer in the world and German recording a history of tuna consumption since the 15th century,” he said.

However, in the last 25 years, the United States has become the world's leading market for canned tuna production and consumption, providing room for the Asian Tuna export, Annuar said.

“Malaysia was among the first prominent tuna-landing hub in Asia from the 1960s to 1980s.

“Since then, it has lost this position to fishery ports from neighbouring countries that have spurred the development of their fishing technology and tuna-landing infrastructure,” he said.

According to Annuar, the Asian tuna industry still faces many challenges.

“The global trend and market for tuna is evolving. Traditional monopolies are constantly challenged and new markets are fast emerging ,” he said, adding that new markets are arising in the Middle East and China.

He added that with the advent of technology and better scientific knowledge of tuna stock, preservations, migration and breeding patterns, new alternative fishing grounds could also be studied and tapped.

Annuar said better infrastructure and development plans, coupled with more efficient port management and operations, are needed in ports in South-East Asia.

“MITP is expected to accommodate tuna vessels as large as 1,000grt by 2010, allowing more tuna landings and exports from Malaysia,” he said.

- kuali December 31, 2007 -

News : Telcos team up to restore undersea cable failures

by VNA

Ha Noi - The Viet Nam Post and Telecommunications Group (VNPT) has banded together with its partners in the Asia-Pacific region to ensure prompt restoration for their services when undersea cable system failures take place.


Under an agreement signed recently, these companies will develop a mechanism to ensure quick response in cases of emergency.

According to the Postal Information Centre, an earthquake in Taiwan in December 2006 damaged nine international sea cable systems and slow implementation of restoration plans caused difficulties for the whole region.

In early 2007, representatives from these telecom groups met to discuss measures to avert similar crisis caused by natural disasters and agreed to pursue a number of strategic cooperation initiatives in dealing with possible cable failures.

VNPT is among 14 members of the Pacific Partners, an alliance of major carriers in the region that also includes AT&T of the US, China Telecom, CAT Telecom of Thailand, Chunghwa Telecom of Taiwan, KDDI of Japan, Korea Telecom, INDOSAT of Indonesia, REACH of Hong Kong and Australia, Singapore Telecom, Telecom New Zealand, Telecom Malaysia and VSNL International of India and Canada.
- Enditem Desember 31, 2007 -

News : Agriculture Posts $12m Output Increase In 2007

By Shareen Han

Bandar Seri Bagawan - Brunei's agriculture sector has reached specific targets last year compared to the previous year, but many areas have to be further improved upon to continue expanding the industry over the next five years, the acting director of agriculture said.

Brunei has posted an increase of $12 million worth of production in the livestock and fruits industries from January to September, compared to the same period in 2006, said Hjh Normah Suria Hayati PJDSM Dato Seri Utama (Dr) Hj Mohd Jamil Al-Sufri.

"There is a 98 to 100 per cent production increase in these two areas," she said, adding that she is pleased with the progress thus far.

Local production for the livestock and fruits industries was recorded at $109.6 million and $5.7 million respectively, for the whole of last year, according to the department's website.

She told The Brunei Times that the livestock industry has showed a significant increase while rice production is also growing.

Hjh Normah said that the agriculture department will continue to prepare action plans after identifying what areas Brunei can compete for with other exporting countries in the agriculture sector.

The acting director also said that the department has conducted a number of studies on soil analysis in Brunei and is developing a roadmap to improve local products which can be exported.

"We are not ambitious with the plans, but we must move forward by being competitive because it will be difficult to compete if we only think about small local products to diversify the economy," she added.

Site said that studies have shown that local products' packaging has to be improved if it were to be successful, because packaging is vital to creating its own product brand.

The department is looking to export `high value products', including the livestock, vegetable and halal processing industries, she continued.

As part of its strategic plan from 2008 to 2012, the agriculture department will also review its policies and regulations to attract more investments in the sector, said Hjh Normah.

"Some of the incentives are no longer applicable and significant, so we need to review them to ensure that it benefits the farmers," she said, adding that the strategic plan is aligned to meet the Ministry of Industry and Primary Resources' target of achieving $4.5 billion worth of output by 2023.

She noted that the department is hoping to be more transparent with local farmers and strengthen its market information.

'We hope to do more studies to target what the consumer preferences are in export countries and improve relations with stakeholders through dialogue, because it has to be what they want," she explained.

She has also appealed for the support of stakeholders and other government departments because unforeseen problems over the next five years can happen.

Hjh Normah also said prices in agricultural products would depend on the international market.

"Prices are still affordable, but if rising oil prices continue, then prices of raw materials for production will also increase," she noted.

- Courtesy of The Brunei Times Januari 03, 2008 -

News : BUSINESS IN BRIEF 2/1

by VNA

Argentina increases export to Viet Nam

Argentina earned more than 230 million USD from export of more than 995,000 tonnes of animal- and plant-related products to Viet Nam in the first 11 months of 2007.

The figures showed year-on-year increases of 56 percent in terms of revenue and 22 percent in terms of volume.

According to Argentina’s official statistics, export items obtaining high increases were sunflower oil with 572,000 million USD; tobacco, 477,000 million USD; and mandarin orange, 424,000 million USD.

Meanwhile, soybean powder was Viet Nam’s largest import item from Argentina in the review period with over 650,000 tonnes worth 135.7 million USD as compared to 555,000 tonnes in 2006.

Viet Nam, Laos, Cambodia sign energy deal

Cambodia, Laos and Viet Nam have signed an energy cooperation agreement, aiming to facilitate the construction of two World Bank-funded power transmission lines from Viet Nam and Laos to Cambodia.

The construction of the two projects, estimated at 18 million USD, will start in 2008 and is expected to be completed in 2010.

One power line will stretch from Tay Ninh province in southern Viet Nam to Kampong Cham province of Cambodia and the other from Champasak province in Laos will reach Cambodia’s Stung Treng province.

Mohinder Gulati, a World Bank energy expert, said that the lines are expected to greatly reduce the electricity production cost in those areas.

Thanks to the projects, Cambodia will directly use electricity from Laos in addition to the supply from Viet Nam.

Both bourses fall in New Year’s first session

The first securities trading session in 2008 felt short of expectations of many investors as both Ha Noi and Ho Chi Minh City bourses experienced decline.

The VN-Index fell by 5.95 points to 921.07 points on January 2 at the Ho Chi Minh City Stock Exchange, where 4.7 million shares valued at more than 444 billion VND were traded.

Blue-chippers which registered the sharpest fall of all included DHG of Hau Giang Pharmaceuticals (7,000 VND per share), ITA of Tan Tao Investment and Industry (4,000 VND per share) and FPT of Corporation for Financing and Promoting Technology (4,000 VND per share).

At the Ha Noi Securities Trading Centre, the HaSTC-Index decreased by 1.21 points to 322.34 points. More than 1.8 million shares, worth 192 billion VND, changed hands.

State President Nguyen Minh Triet visited the Ha Noi Securities Trading Centre on the morning of January 2 and beat the gong to open 2008’s first trading session.

The President asked the Ministry of Finance and the State Securities Commission to map out strategy to ensure that stock exchanges develop in a sustainable manner.

He also asserted that the state always creates favourable conditions for the financial market in general and the securities market in particular to develop safely, healthily, sustainably and in accordance with law.

Statistics released by the SSC showed that around 210 companies are listed on the stock exchanges, which mobilized nearly 90 trillion VND last year.

IPO bidders need to make bigger deposits

The Ha Noi Securities Trading Centre has proposed that higher deposits be required of investors seeking to participate in any initial public offers in order to reduce the number of winning bidders who change their minds about acquiring shares and abandon their deposits following the IPO.


The centre has recommended that the State Securities Commission increase the required deposit on shares to be bid from 10 percent to 20-30 percent.

According to centre director Tran Dung, many investors have abandoned deposits after submitting winning bids during share auctions, changing their
minds about acquiring the shares and leaving enterprises unable to meet their goals of mobilising capital through the share offer.

“There are many reasons for the abandonment, but the most common is that investors lacked sufficient information about the enterprise prior to the auction,” said Dung. “They register to buy shares at a higher price than the average bid in the auction and, rather than accept a loss, give up the deposit.”

He argued that “with a higher rate of deposit, the investors would have an incentive to obtain information about the enterprise and be more careful in bidding. And then the abandoning of deposits would be reduced remarkably.”

The centre has also proposed shortening the time limit in which winning bidders have to pay up from 15 to 10 days.

On the other hand, the time for the centre or the HCM City stock exchange to verify auction results could be increased to three days from two, said deputy director of Ha Noi centre Nguyen Vu Quang Trung, helping to increase accuracy and reduce mistakes in reporting auction results and collecting payment for shares.

“A shorter period in which to pay for shares won at auction would require investors to think more carefully before joining the auction, further reducing the number of abandoned deposits,” Trung said.

Trung urged the State Securities Commission to make the change as soon as possible.

“We expect a wave of IPOs in the first and second quarters of 2008, so the sooner, the better,” he said.

Trung also noted that the centre was changing software systems for handling auctions in order to ensure more accurate results. Through December 17, 2007, the Ha Noi Securities Trading Centre had conducted 47 auctions, with 324.7 million shares offered. Turnover from these auctions was 14.6 trillion VND (912.5 million USD).

Prime Minister approves upgrade of Cat Bi airport

The Prime Minister has approved a master plan to upgrade the Cat Bi International Airport in the northern port city of Hai Phong by 2015 and 2025.

The project is estimated to cost an investment of 1.7 trillion VND (106.5 million USD).

By 2015, the airport will be upgraded to receive A321 and B767 planes, 800 passengers per peak hour and 17,000 tones of cargoes a year.

By 2025, the airport will be capable to receive B747-400 and B777 planes, 1,440 passengers per peak hour and 82,000 tonnes of cargoes a year.

Real estate grabs big chunk of foreign cash

Around 85 percent of foreign direct investment in Ho Chi Minh City last year has flowed into the property sector, worrying experts and authorities.

HCM City had attracted 2.5 billion USD in the first 11 months, the highest in the country along with Ha Noi and Dong Nai province, Thai Van Re, head of the city’s Department of Planning and Investment, said.

Over 2.1 billion USD had been invested in real estate, mainly apartment and office blocks, he added.

Do Thi Loan, general secretary of the HCM City Real Estate Association, said her association had been contacted by many companies from the US , Australia , Canada , Italy , Singapore , China , and Japan about investing in the city’s property market as well as elsewhere in Viet Nam.

They said other Asian markets were nearly saturated while Viet Nam was in the first stage of urbanization, she said.

They said further that in the country’s major cities, the demand for housing, office space, and shopping was rising together with the population, and offered great investment opportunities, she added.

The deputy head of the Economics Institute, Nguyen Thieng Duc, warned, however, that haphazard construction of buildings would affect both the city’s visual appeal and environment.

He added that the administration should improve infrastructure to prevent traffic jams and floods, and make it appealing for foreigners to invest in other sectors.

Ba Ria-Vung Tau fails to hit FDI target

The southernmost province of Ba Ria-Vung Tau granted licences to 57 foreign-invested projects worth 1.21 billion USD last year, 21 of which were in industrial zones at the cost 781 million USD, said the provincial Department of Planning and Investment.

Surprisingly, registered capital in the province accounted for nearly 50 percent of last year’s target, even though the number of projects doubled that of 2006, the department said.

Department director Le Kim Huong blamed the shortfall on the fact that a Thailand invested petrochemical complex in Phu My 2 Industrial Zone, estimated to be worth 1.53 billion USD is way behind schedule and yet to receive a licence.

The province revoked the licences of 10 projects, value at 23 million USD citing their slowness, Huong said.

During the year, the province welcomed investors from 17 countries and territories. The Republic of Korea funded 15 projects, representing 26 percent of the province’s newly-licensed projects. Meanwhile, investment capital in Vung Tau from Singapore reached the highest level of any country with 547 million USD.

Last year’s projects were mostly in heavy industry, construction, transport infrastructure and environmentally friendly sectors.

In the time ahead, the department pledges to continue co-operation with industrial zones’ management to combat any difficulties faced by foreign-investors in the implementation of their projects, said Huong.

Despite missing its target, Ba Ria-Vung Tau remained one of the country’s most attractive locations for foreign investors. The province is home to 196 foreign-invested projects, capitalized above 7.59 billion USD. Of the total, 120 are currently operational.

Among the leading projects are a 1.13 billion USD steel complex owned by RoK’s Posco group, a 1 billion USD Nam Con Son Gas Project and a Taiwanese-invested stainless steel project worth 700 million USD.

Ba Ria-Vung Tau hopes to license 22 new foreign-invested projects with capital totaling 2.8 billion USD in 2008.

In order to reach its target for next year, the province will look at upgrading infrastructure in and around industrial zones such as Cai Mep, expanded Phu My 2 and My Xuan B1 – Dai Duong as well as Chi Linh – Cua Lap tourism complex.

HCM City: Retail purchase booms in new year

Retail purchase at Ho Chi Minh City-located supermarkets on the first day of 2008 increased 15-40 percent year-on-year.

The Co.opMart chain saw a 30-40 percent boom in revenues while Vissan’s 23 retail shops enjoy 10 percent increase over ordinary days.

However, the surge in the first day of the new year was foreseen with the commodity quantity prepared 2-3 times higher than usual. As a result, the prices of essential goods such as pork, beef, aquatic products, vegetables, and drinks were kept stable.


By 2025, the airport will be capable to receive B747-400 and B777 planes, 1,440 passengers per peak hour and 82,000 tonnes of cargoes a year.

- Vietnam Net January 02, 2008 -

News : Swimming against the stream


Cambodia's Mekong River dolphins were heading for extinction until 'river guards' convinced local fishermen that the mammals are more profitable alive








By Seth Meixner
AFP, KAMRI, CAMBODIA
Saturday, Dec 15, 2007

The absence of fishing boats on this stretch of the Mekong River, just a few kilometers north of the eastern Cambodian town of Kratie, means military policeman Em Pheap is doing his job.

One of about 80 "river guards," he is part of a groundbreaking conservation effort which has been credited with helping pull the Irrawaddy dolphin back from extinction.

"There, there!" he pointed excitedly during a recent patrol on the river, shouldering his assault rifle and standing high on the back of the boat.

The pair of dolphins, dark slivers on the horizon, broke the surface with a gentle exhale of breath heard over the murmur of the current running through the submerged trees in this vast monsoon season flood plain.

The total number of Mekong dolphins is unknown, but marine specialists say the mammals remain some of the world's most critically endangered.

With their pale gray skin and blunt beaks, the dolphins resemble porpoises more than their sea-going cousins.

Their numbers already vastly reduced by Cambodia's drawn-out civil conflict - dolphin blubber was used to lubricate machine parts and light lamps - these graceful creatures are now falling prey to development and the attendant problem of over-crowding as this wild corner of the country opens up.The Mekong is one of only five freshwater habitats in the world for this species of dolphin, and Cambodia supports its largest remaining population, thought to hover around 100 congregating in natural deep-water pools.

"The Kratie-Stung Treng stretch of the Mekong is their last stronghold," said Richard Zanre, the World Wildlife Fund's (WWF) freshwater program manager in Cambodia, describing a river habitat running 200km from Kratie to Stung Treng, Cambodia's last large port before the Mekong crosses over into Laos.

War and the ensuing lawlessness kept the region largely out of the reach of researchers for decades. But since 2001, biologists and other wildlife experts have discovered an unexpectedly rich biosphere.

At its core are the dolphins, "a flagship species for the conservation of the river," says the WWF.

Desperate to revive a plummeting population, the government created the river guards, the first organization of its kind and part of a conservation effort launched last year after a spate of mysterious dolphin deaths.

But while the guards appear to have had some success in bringing dolphin numbers back up, they have been met with hostility and sometimes violence from local villagers who make their living along the river.

"The most important thing is to cooperate with the people," said Touch Seang Tana, chairman of the government's Commission for Mekong River Dolphin Conservation.

"Without the participation of the local people in conservation, we will not be successful."

A spike in deaths among dolphin calves last year left officials scrambling to re-think their conservation efforts as Cambodia prepared to launch one of its most ambitious tourism efforts to date: The Mekong River Discovery Trail.

The trail, which hopes to bring tourism and development to one of Cambodia's most neglected regions, roughly follows the dolphins' habitat.

The animals' survival is crucial to the plan's success, officials say.

"No dolphins means no tourism. No tourism means no development," Tourism Minister Thong Khon said last week as the trail, a joint UN-Cambodian project, was announced.

The solution, according to Touch Seang Tana, was to try to radically change the economy of the river to make dolphins more valuable alive than dead.

Alternate means of livelihood would be introduced to villages along the river to take advantage of a booming tourism sector that has already benefited other parts of the country.

"My idea is ... to try to get poor fishermen to change over to tourism," Touch Seang Tana said. "I give them tour boats" to bring visitors to see the dolphins.

Reducing villagers' dependence on fishing is hoped to also see a drop in the use of gillnets.

Cheap and easy to use, gillnets are as efficient a killer of dolphins as they are of fish, said Touch Seang Tana, a marine scientist by training who blames this now-illegal fishing method for 99 percent of dolphin deaths.

But getting local fishermen to risk their livelihoods for an animal that is of little value commercially or as food has been hard, he explained.

"I tried to invite them to meetings to explain our actions, even tried to pay them money

... . But they didn't come, they sent their pregnant wives," he said.

"We decided then that we'll confiscate (fishing gear) and then they came. They came with knives, they wanted to kill the river guards," he added.

"They want to kill all of the dolphins because they are keeping people from making a living."

Since the introduction of the river guards, however, illegal net fishing, along with the use of explosives or electrical charges to catch fish - practices that also inadvertently kill dolphins - have dropped, said guard Em Pheap.

"Before it was a big problem, but now people are understanding more about this," he said.

The WWF's Zanre said that while the number of dying dolphin calves is still dangerously high, "adult dolphin mortalities have declined" as a result of conservation.

Even before the Discovery Trail becomes a reality, its successes are evident in Kampi, where dolphins have become the local industry.

Aside from the boats lining up for sightseers, nearly every house along the narrow tree-lined road shadowing the river hawks tiny dolphin carvings.

"Everyone earns the money, even the children, from dolphins. You can see their livelihood has changed - you can see televisions in houses, some people even have motorcycles," Touch Seang Tana said.

"The dolphin is so important. I tell them 'The dolphin is everything for you' and now they can see that," he added.

"Its future is their future."
- Taipei Times December 15, 2007 -

Tuesday, January 1, 2008

News : Benazir’s death leaves void: Lee Kuan Yew

SINGAPORE, Dec 29: The assassination of opposition leader Benazir Bhutto has left a constitutional void in her nation, Singapore’s founding father Lee Kuan Yew said in a letter of condolence.

Bhutto, 54, a two-time former prime minister of Pakistan, was buried on Friday after her death a day earlier from a suicide attack at an election rally. “Ms Bhutto’s death has come at a critical moment in Pakistan’s difficult history,” Lee wrote to Ms Bhutto’s husband, Asif Ali Zardari. “It leaves a void in the constitutional structure of Pakistan, with millions of her followers in the Pakistan People’s Party leaderless,” Lee said. “She was deeply committed to the future of Pakistan,” wrote Lee, who holds the position of Minister Mentor in the cabinet of his son, Prime Minister Lee Hsien Loong.

The elder Lee said Ms Bhutto “chose to stay the course” despite threats on her life. The prime minister wrote in a letter to President Pervez Musharraf that her assassination serves as a reminder “of the menace that terrorism poses to Pakistan and to all civilised societies.”

The Lees’ correspondence was released late Friday by Singapore’s Ministry of Foreign Affairs.“The terrorists are doing their utmost to derail the electoral process in Pakistan and undermine the country’s stability,” Prime Minister Lee wrote. “They cannot and must not succeed. The perpetrators of this heinous act must be swiftly brought to justice.”

In a separate letter to Zardari, the prime minister said Ms Bhutto would be remembered for her “indomitable spirit.”
- Dawn e-Paper, December 30, 2007 -

News : ConocoPhillips, Shell, Petronas partner on gas project

ConocoPhillips, Royal Dutch Plc and Malaysian state oil company Petronas Group have partnered to drill for natural gas in four underwater fields off the coast of Malaysia, according to news agencies.

The three companies will jointly own a company to be based in Kuala Lumpur that will oversee the appraisal and development of the fields.

Terms of the agreement give Petronas' exploration arm, Petronas Carigali, 40 percent ownership of the joint venture, while Houston energy giant ConocoPhillips (NYSE: COP) and The Netherlands-based Shell will each own a 30 percent stake.

The company will drill for natural gas in four fields known as the "Kebabangan Cluster," in the waters off the northwest coast of Sabah, a state on the island of Borneo. The fields include Kebabangan, Kamunsu East, Kamunsu East Upthrown and Kamunsu East Upthrown Canyon.
- Houston Business Journal, December 31, 2007 -