Congratulations SPAIN’S NATIONAL DAY October 12, 2008
What’s
INSIDE
Asean
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NEWS 7
BY FIDEL V. RAMOS Former President of the Philippines
WHAT’S BETWEEN CHINA AND TAIWAN ASEAN’S ROLE?
CALENDAR OF TRADE 8-9 FAIRS /EVENTS
October 1-15, 2008
www.aseanbiztimes.com
ISSN No. 2012-2802
Volume 2 No. 8 US$1.00
CHINA’S NEW CHALLENGES BY MICHAEL HO
• Philippines: The Millionaire Show - 2008 • Singapore: StocExpo Asia • Malaysia: Sabah International Trade Expo • Thailand: Bangkok International Gift Fair & Bangkok International Houseware Fair
EXECUTIVE HEALTH CHECK
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Avoid being CRAZY!!! 13
INFOTECH
Apple sells SIM-free iPhones in Hong Kong
Nintendo adding camera and music playback to new DS
BIZLITES
14
Dubai newest and most expensive hotel EEI Receives Record-Setting Safety Award in Saudi Arabia
BIZSPORTS
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Alonso springs a Singapore surprise WHO READS ASEAN BIZTIMES?
MR. ERNIE CHUA Executive Vice President Malabon Long Life Trading Corp.
Chinese astronauts (left) Liu Boming, Zhai Zhigang and Jing Haipeng salute during a ceremony before the launch of the Shenzhou 7 space craft at the Jiuquan Satellite Launch Center in northwest China’s Gansu province.
Chinese taikonauts (front) salute they get out of Shenzhou-7 re-entry module after their safe landing in North China’s Inner Mongolia Autonomous Region.
ASEAN board starts next year THE bourses of six Asean countries have signed an agreement creating a regional board that will allow for cross-border trading. The agreement was concluded by Bursa Malaysia, Ho Chi Minh Stock Exchange, Indonesia Stock Exchange, Singapore Stock Exchange, Stock Exchange of Thailand and the Philippine Stock Exchange. The six will be electronically linked. This Asean board is expected to start operations by mid2009 with each country bringing 30 stocks. Hence, there will be 180 stocks trading on the board. Norgram Wongwanish, vicepresident of Stock Exchange of Thailand (SEI) said the Boston Consulting Group had already proposed details for a suitable privatization structure. Analysts at the Philippine Stock Exchange (PSE) refused to comment on this move. “It is a good idea, although we might lose in the end,” said a president of a local equities company in the Manila. Turn to page 11
CHINA celebrates its 59th national day today, October 1, 2008 as it is considered the world’s new economic power. China has had its roller-coaster moves just within the year. From the lows provided by toxic-laden candies, toys and children’s furnitures early this year to the hosting of most successful Olympics in decades and then bug-down to melamine-laden milk products now, China hopes to emerge stronger, more respectable and more powerful as it enters a new chapter of its history. Nursing from these sequence of unfortunate events, China regained glory with the successful landing of a space mission. China’s landmark spacewalk mission The Shenzhou-7 space module carrying three taikonauts comeback safely by parachute Sunday afternoon in China’s northern grassland, after a landmark spacewalk mission that leads the country further in its space exploration. Astronauts Zhai Zhigang, Liu Boming, and Jing Haipeng came back from a 68-hour flight, which included a 20minute spacewalk on Saturday. “It was a glorious mission, full of challenges with a perfect result. I’m proud of my country,” said spacewalker Zhai, sitting on a chair after emerging from the module. The trio exited the module by themselves after a brief medical check and adaptation to the Earth’s gravitational environment. Liu said “before taking off, Turn to page 2
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ASEAN BIZTIMES
CHINA’S NEW… From page 1 I told you the Chinese taikonauts are the best. Thank the motherland and the people.” “We felt the care of the country and people in the abysmal space. Now we have safely returned,” said Jing, followed by a military solute by the trio. The taikonauts were welcomed with flower bouquets and Premier Wen Jiabao at the Beijing Aerospace Control Center (BACC) were watching their return in a live transmission. Wen said the mission was “a victory of the Chinese space and technological field and a
Two Chinese characters which is written by Chinese President Hu Jintao. The characters are the name for China’s domestically-made extravehicular activity (EVA) space suit ‘Feitian’ Feitian, which literally means ‘flying in the sky’ in Chinese, is the name of legendary Buddhist goddess.
monumental achievement in the Socialist causes”. The successful crusade marks a critical step in China’s space quest — it is now the third country in the world to attain a spacewalk. The only two other countries are the United States and Russia. In what many hail as a “perfect walk”, Zhai tread China’s first “step” in the space. Donned in a 4million-US dollar homemade Feitian space suit, he spent 20 minutes outside the orbiter on Saturday afternoon, and excited tens of millions on the Earth when he waved a Chinese flag. It circled the earth 46 laps before descending on 1,000-square-meter parachute at Siziwang Banner in central Inner Mongolia at 5:37 p.m. Sunday, where 300 search and rescue staff waited.
October 1-15, 2008
Briefer on Philippines-China relations The Philippines’ ties with China date back many centuries but formal diplomatic relations were established with the People’s Republic of China only on 9 June 1975. Philippine relations with China is now among the most important ties the country has with any member of the international community. President Macapagal-Arroyo has said in various official pronouncements that the Philippines desires a healthy, comprehensive, and long term relationship with China that transcends the specific issues between them. After the celebration of the 30th anniversary of the establishment of diplomatic relations between the two countries in 2005, relations accelerated through 2006 and 2007 in the political-security, economic and socio-cultural fields of endeavor. Trade, investment and tourism and technical and economic cooperation provided the main engines of bilateral interaction, together with the increasing frequency of high-level exchange of visits, increasing number of bilateral agreements and sister-province/city arrangements. Bilateral trade Trade and economic cooperation has emerged as the driving force of Philippine-China relations. According to the Philippine National Statistics Office, bilateral trade has been growing at an average annual growth rate of 41.39% since 2001. In 2006, bilateral trade with China amounted to US$8.2 billion, with RP exports amounting to US$4.6 billion and imports amounting to US$3.7 billion giving RP a surplus of US$ 945 million. This makes China the Philippines’ third largest trading partner, after the US and Japan. Frequent Exchange of Visits The President has visited China six (6) times from October 2006 to present, visiting 12 cities, including Xiamen, Jinjiang, Nanchang, Guilin, Nanning, Hong Kong, Haikou, Boao, Chengdu, Chongqing, Shanghai and
Yantai. Premier Wen Jiabao made an official visit to Manila on 15-16 January 2007 on the heels of the ASEAN Summit in Cebu. In August 2008, the President recently visited the Sichuan province then proceeded to Beijing to attend the Opening Ceremonies of the 29th Olympiad. Several exchange of visits at the ministerial and even the local government level took place in 2007, which include from the Philippine side: visit of the Secretaries of Foreign Affairs, Agriculture and Tourism; from the Chinese side, visits by the Ministers of Foreign Affairs, Commerce and Defense, as well as delegations from Chongqing Municipality, Guangxi Zhuang Autonomous Region and the National People’s Congress. One China Policy The Philippines has consistently upheld the One-China Policy as the governing principle of Philippine relations with the People’s Republic of China. It acknowledges the People’s Republic as the sole legitimate government of China, and Taiwan as an integral part of Chinese territory. The Philippines shall enjoy economic, socio-cultural and people-to-people exchanges with Taiwan, but shall have no political, diplomatic and security relations with it. Defense and Security Cooperation A Memorandum of Understanding on Defense Cooperation was signed on 08 November 2004 in Beijing. In line with it, the Philippines hosted the first ever RP-China Annual Defense and Security Dialogue on 23 May 2005 during the visit to Manila of Gen. Xiong Guangkai, Vice Minister of China’s Ministry of Defense and Deputy Chief of Staff of the People’s Liberation Army. It represented a major confidencebuilding step for the two countries. Opening of New Philippine Foreign Service Post in China The Consulate General in Macau had its “soft opening” last 1 September 2008, and will service the needs of close to 18,000 OFWs.
Investments Based on statistics of the Board of Investments, total approved Chinese investments in the Philippines amounted to US$381.5 million in 2006, which accounts for 14.4% of total foreign investments in the Philippines in the period cited. Chinese investments were directed mainly to manufacturing of garments and packaging materials and on semiconductors. Cooperation in Tourism Due to the government’s tourism campaigns in China, opening of new air service links (chartered flights connecting Manila to Guangzhou, Shanghai and Macau; and regular flights connecting Manila to Beijing, Hong Kong and Xiamen) and visa facilitation measures, tourism arrivals from China have picked up significantly. According to the Department of Tourism, 133,585 Mainland Chinese tourists entered the Philippines in 2006, increasing by 24% compared to the 107, 456 tourists in 2005. The 2005 figure was itself a dramatic increase of 171.5% increase compared to the same period in 2004. However, while these figures make China the fastest growing source of tourism arrivals in the Philippines, they are but small portion of the 34 million outbound Chinese tourists in 2006, a figure further projected by the World Tourism Organization to swell to 100 million by 2020. For the period of January to July 2008, tourist arrivals from China has totaled to 102,653 with a growth rate of 18.3% from last year’s figures of 86,766 arrivals in the same period. New Areas of Cooperation During the January 2007 visit of Premier Wen in Manila, the Philippines and China signed the Framework Agreement on Expanding and Deepening Bilateral Economic and Trade Cooperation, which charts the direction of the two countries’ economic cooperation for the next decade.
October 1-15, 2008
ASEAN BIZTIMES
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ASEAN BIZTIMES
October 1-15, 2008
Asean
NEWS
MALAYSIA
Malaysia aims to tap nuclear energy by 2023
MALAYSIAN minister said the country will turn to nuclear energy to generate electricity by 2023 as supplies of fossil fuel eventually run out. Energy, Water and Communications Minister Shaziman Mansor said the use of nuclear energy was also an alternative to counter high global oil prices, the Star newspaper reported recently. “I will be briefing the cabinet in a fortnight. We have no choice but to start the ball rolling,” he was quoted as saying. “You cannot say you want to use nuclear power in the next few months, and expect everything to be in place,” the minister said.
Malaysia in June raised electricity tariffs after coal prices surged but Shaziman said the price of coal was now much higher than the government’s estimate of about 75 dollars per tonne. “The increase in coal prices had been exceptional and we need to act now,” Shaziman said.State utility Tenaga has said it could construct the country’s first 1,000 MW nuclear power plant at a cost of 3.1 billion dollars after being asked by the government to look at the option amid surging global oil prices and the country’s limited supply of oil and natural gas. Currently, half of Malaysia’s power plants run on gas. Other sources include coal and hydropower. The government last year said it would build Southeast Asia’s first nuclear monitoring laboratory to allow scientists to check the safety of atomic energy programmes in the region.
Malaysia to consider ringgit peg MALAYSIA’S finance minister is to hold talks on whether to re-peg the ringgit currency, state news agency said quoting a top finance ministry official. Second Finance Minister Nor Mohamed Yakcop said Najib Razak, who was appointed finance minister last week, would discuss the issue of the peg after former Prime Minister Minister M a h a t h i r Mohamad called for the exchange rate to be fixed again. “Various issues would be presented at the briefing including the economic situation, finance and the challenges faced in Malaysia and in the international arena,” he told reporters in Penang, according to state news agency Bernama. Nor Mohamed said the briefing would also discuss whether the ringgit would be repegged to cushion the impact
INDONESIA INDONESIA, the world’s largest palm oil producer, has sent a minister to lobby the European Union (EU), over concerns the group were planning a policy that would limit imports of the commodity, local daily the Jakarta Post reported. After arriving in Jakarta from a week-long visit to the
of the weakening US dollar against other currencies, Bernama reported. It was Mahathir who defied the International Monetary Fund in response to the Asian financial crisis of 1997 and 1998 when he imposed capital controls and pegged the currency at 3.80 to the dollar. The ringgit is currently in a managed float against a basket of currencies and it last traded at 3.459 to the dollar. “We need to fix the value of the ringgit and I believe the government should do away with managed float because it will result in a loss,” Bernama quoted the former leader as saying. Mahathir said that a 10 percent revaluation of the ringgit would help ordinary people by cutting inflation which in July hit a near-27 year high of 8.5 percent.
THAILAND THE root causes of the financial turmoil in the United States are similar to the crisis that gripped Asia 11 years ago, but may be harder to fix, quoted Thailand’s central bank governor. Speaking to Asian central bankers gathered in Bangkok for a weekend symposium, Bank of Thailand chief Tarisa Watanagase said central banks would need to be flexible in their response to the US crisis as its effects ripple around the world. “At a glance, the root causes of both events are strikingly similar,” Tarisa said in evoking memories of the 1997-98 Asian financial meltdown triggered by the devaluation of the Thai baht. “Investors taking excessively high risks, creating asset price bubbles, against a background of lax prudential and monetary policy,” she said. However, the crisis today is much more complex because it is unfolding in the world’s biggest economy with the deepest and most sophisticated capital
PHILIPPINES
Bangkok Central Banks’ Meeting US faces similar crisis to Asia in 1997 markets, Tarisa said. “Given the increased complexity and magnitude of the current crisis, this calls into question whether the tools at hand for policymakers are adequate in ensuring economic stability, the essence of our mission as central bank governors,” she said. Tarisa said innovative methods would be needed to deal with the evolving challenges. “For example, we may not be able to just rely on using traditional solutions of raising interest rates to address rising inflation.” Policy responses may include “prudential measures that could help cool down asset prices, which is a case in point of how monetary and supervisory policies can be intertwined,” she said. The Southeast Asia, Australia and New Zealand Governors’ Symposium, a threeday training seminar, was scheduled before the turmoil in the US banking system triggered panic on world stock
markets. The 20-member group includes the central banks of Japan, China, Australia, India and several South Asian and Southeast Asian countries. It was set up in the 1950s to promote cooperation between central bankers in the region. The collapse of investment bank Lehman Brothers and the $85 billion US government bailout of insurer AIG this week have knocked Asian banking
Philippines expect remittances to rise 10% in 2009
THE Philippine central bank expects remittances sent home by overseas Filipino workers through formal channels to rise 10 percent to around $17.6 billion next year despite a slowing global economy, quoted an official as saying. Diwa Guinigundo, central bank deputy governor, told reporters at the weekend that total remittances including money sent home through friends and relatives would expand also by 10 percent to about $18.3 billion in 2009. Remittances from overseas are equivalent to roughly a tenth of the southeast Asian country’s gross domestic product, fuelling domestic consumption and serving as a cushion to the falling Philippine peso and the shrinking balance of payments surplus.
The peso has fallen about 11.5 percent against the dollar so far this year and is one of the region’s major laggards, a reversal of its performance last year as Asia’s top gainer. But the peso is finding some comfort in strong remittance inflows, as more Filipino workers take higher-paying jobs overseas, particularly in the Middle East and some parts of the United States, officials have said. The Philippines is on track to hit its forecast of a 10 percent rise in 2008 remittances to $15.9 billion, partly due to the wider use of money transfer services of banks and non-bank agents and with Filipinos sending home more money to their families facing higher fuel and food prices. Remittance inflows through formal
channels in the first seven months of the year reached $9.6 billion, up 18.2 percent from a year ago, after hitting a record high for a single month in June. About 9 million of the country’s 90 million people live and work abroad, mostly as seafarers, nurses, doctors, caregivers and domestic helpers. The central bank expects strong remittances to help push up the country’s balance of payments surplus to $2.3 billion next year, higher than the $2 billion surplus estimate this year. But forecasts of world oil prices rising anew to $100 per barrel may further widen the Philippines trade deficit to about $16.5 billion next year, about a quarter higher than the revised forecast of a trade gap of $13.2 billion this year, central bank documents obtained by reporters showed.
Thailand-Cambodia Border Dispute: PMs agree to hold talks at Asean meeting in New York THAILAND’S Prime Minister Somchai Wongsawat and his Cambodian counterpart Hun Sen are reported to have agreed to resolve the border dispute around Ta Kwai temple, reported Radio Australia on its Web site www.radioaustralia.net.au. The prime ministers have reportedly decided to discuss the matter at the Asean Foreign Ministers Meeting in New York, on September 29. Thailand’s
English-language daily Bangkok Post quoted a foreign ministry official in Bangkok as saying the premiers from the two countries held a telephone conversation recently and both agreed that the Thai-Cambodian border row can be solved through bilateral means. The new development comes after Cambodia’s prime minister accused Thailand of border intrusion into Ta Kwai
last week. The two countries made fresh accusations of violating each other’s territory in the dispute over land near ancient temples along their border. Cambodian Prime Minister Hun Sen has hinted in recent weeks that he might take his boundary complaints to the UN Security Council or international courts if the neighbors cannot resolve their border disagreement.
Palm Oil Exports: Indonesian minister lobbies EU over restrictions continent, Indonesian Agriculture Minister Anton Apriyantono said Indonesian and Malaysian representatives met EU parliamentarians, assuring them the palm oil produced by the two countries met emission standards set by the EU. Anton visited several
stocks and prompted central banks to pump funds into strained money markets. Commercial banks in Asia have seen their shares caught up in the downdraft, but they have largely dodged the huge credit losses that have rocked Wall Street. While the region has ample liquidity, the Asian Development Bank has warned that asset markets, particularly real estate, were vulnerable to shocks.
European countries — the United Kingdom, Netherlands, and Belgium — with his campaign. During a meeting on September 11 with the EU, he filed Indonesia’s opposition to a planned EU directive on renewable energy and fuel quality which would enter a voting phase during the general
assembly next month. Anton argued that this directive would hamper palm oil exports from Indonesia and Malaysia to EU member states. The directive, however, regulates palm oil supply for alternative energy use, while imports for cooking oil and soap are not subject to the same laws.
Palm oil exported to the EU for bio-fuel is required to have a minimum emissions benchmark rate of 35 percent (the higher the rate the lesser the impact of the commodity on the environment). According to the EU, however, the average recorded emissions rate of 32 percent for palm oil was below the minimum requirement.
Tensions flared in July after Preah Vihear was awarded world heritage status by the UN cultural body Unesco, angering nationalists in Thailand who still claim ownership of the ancient Khmer temple. Those tensions turned into a military standoff in which up to 1,000 Cambodian and Thai troops faced off for six weeks, until both sides agreed to pull back in mid-August.
ASEAN BIZTIMES
October 1-15, 2008
LAOS
Laos mining concessions under review
OVER 30 unprogressive mining and incompliant concession contracts are likely to be withdrawn and possibly being transferred to the new and sound investors, the Voice of Amerca quoted Houmpheng Soulalay, Director of Investment Promotion, Ministry of Planning and Investment of Laos. They are among those over 190 mining projects including that of more than 60 projects owned by the Chinese, the largest investors, the US radio broadcaster reported on its Web site online. As observed by another Lao official, Soukanh Khosouvath, Chief of Cabinet of Ministry of Energy and Mining, these are a result of the ineffectiveness of these investment projects. Although these natural resources extraction projects have attracted many foreign investors, they still have not brought about the effective financial capital sources for the national economic development, which are the full benefits that Laos could have. They fail to enable Laos to tap mining sector to serve as the foundation for the future development of the country’s modern industry as set forth by the government of Laos.
Changi Airport is shopping haven for business travellers RESULTS of two recent surveys have shown that business travellers from Europe and Asia-Pacific consider Singapore Changi Airport best airport for duty-free shopping and best airport in the world. Last September 22, Changi Airport was named the ‘Best Airport Duty-Free in the World’ for the 7th consecutive year at an awards ceremony held in London by Business Traveller (United Kingdom/ Europe) magazine. At this ceremony, Changi also picked up the ‘Best Airport in the World’ award, a title it has held for 21 consecutive years since 1988. At an earlier awards ceremony held on 18 September 2008 in Hong Kong by Business Traveller (Asia Pacific) magazine, Changi Airport was similarly named the ‘Best Airport for Duty-Free Shopping’ for the 11th year running and the ‘Best Airport in the World’ for the 17th consecutive time. Mr. Lim Kim Choon, Director-General and Chief Executive Officer, Civil Aviation Authority of Singapore (CAAS) attributed these achievements to his colleagues, the airport’s retail partners and all airport staff. He expressed that “they have done an excellent job in introducing innovative and fresh retail offerings at Changi Airport’s 230 retail and 110 food & beverage outlets”. Mr Lim added, “Maintaining Changi Airport’s appeal to international shoppers, especially sophisticated business travellers with immaculate tastes and demand for quality purchases, is a constant challenge. We are not resting on our laurels and are continuously working on enhancing
ADB President proposes new forum to boost regional financial stability ASIAN Development Bank President Haruhiko Kuroda proposed establishing an “Asian Financial Stability Dialogue” to coordinate regulatory development and monitor potential vulnerabilities in the region’s markets and financial systems. In welcome remarks at the beginning of the two-day conference - “Restructuring Beyond the Subprime” - Mr. Kuroda said the most recent bout of global financial market turmoil illustrates the urgent need for central banks and regulators to build a cogent and pro-active plan to better preserve regional financial stability. “It’s now time for Asia to move forward on its path toward greater financial integration and to develop the foundations for regional financial stability,” Mr. Kuroda said. Mr. Kuroda said the “Asian Financial Stability Dialogue” —which would include finance ministry and central bank officials, financial regulators and supervisors, and engage market participants—could use early warning systems and other mechanisms to improve surveillance of the region’s financial markets. Asian financial markets and
stage and we have seen progress,” Mr. Kuroda said. Asia needs to promote consistent standards, harmonize prudential indicators, and establish standards for governance and transparency to facilitate domestic and international investment, he added. Financial integration in the region has lagged despite the rapid growth in regional trade integration. Asia is still dependent on more ADB President Haruhiko Kuroda mature markets in Europe economies have so far and North America to weathered the current global intermediate its large savings financial storm relatively well, than doing it through its own but we cannot take this for markets. Mr. Kuroda urged granted, he added. Mr. Kuroda warned that participants at the conference vulnerabilities and risks to the to work together on financial region’s financial systems system development, regional remain. Authorities are financial integration, and in working hard to contain constructing the groundwork inflationary pressures against for regional financial stability. This conference brings the risk of slowing economic activity, for example. And together under one roof senior several asset markets, representatives of regulatory particularly real estate, also and supervisory agencies, show potential vulnerability market participants, rating agencies, banks, multilateral to shocks. “Our region requires deeper institutions, and academia to and more innovative financial discuss and exchange ideas on markets. Bank finance and measures to strengthen global, equity markets still dominate regional, and national financial Asia. Debt markets are the next markets.
Changi’s shopping and dining experience for our travellers.” One such example is the current 66days “Terminal 3 Celebration” shopping promotion to celebrate T3’s official opening. Those who spend at the airport from 25 July to 28 September 2008 stand to win attractive prizes such as air tickets on Singapore Airlines A380 suites to Tokyo, London and Sydney, an Audi A5 3.2FSI Quattro Coupé or a luxury cruise vacation on Queen Victoria. On a larger scale, CAAS is currently upgrading
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Changi Airport’s 27-year old Terminal 1 at an estimated cost of S$500 million to improve passenger flow and enhance the passenger experience. This year, Changi Airport has won 17 awards so far. Besides these four new awards, other awards garnered in recent months include the ‘Best International Airport (Asia)’ by Travel Weekly, ‘Asia’s Leading Airport’ by World Travel Awards, ‘Best International Airport’ by OAG Worldwide, and ‘Best Airport for Cargo’ by Frost & Sullivan.
ADB providing CAREC $4.5M to improve research and training coordination THE Asian Development Bank is providing $4.5 million to foster closer cooperation among participating countries of the Central Asia Regional Economic Cooperation (CAREC) by establishing a virtual institute that will coordinate research, training, and dialogue within the regional organization. “The CAREC Institute will make an important contribution to the deepening regional cooperation among the countries of greater Central Asia. Research and training on transport, trade and energy issues would help the countries find new areas of cooperation,” said Natasha Davis, Regional Cooperation Specialist of the Central and West Asia Department. ADB will provide $4 million to the project from its technical assistance fund and another $500,000 from its Regional Cooperation and Integration Fund, a special fund under the Regional Cooperation and Integration Financing Partnership Facility that supports technical assistance projects. Another $500,000 will come from the People’s Republic of China (PRC) Regional Cooperation and Poverty Reduction Fund,
while participating governments will provide $200,000 to complete funding requirement. The CAREC Institute will further improve regional cooperation by coming up with knowledge resources that meet global standards to support regional infrastructure networks in transportation, trade, and energy. This should help speed up identifying and developing regional projects in the priority areas. Through partnerships with institutes, experts, and researchers from member countries, the CAREC Institute will offer training programs to improve knowledge and skills of government officials in regional cooperation. The institute will also come up with applied research programs to generate new knowledge, innovation, and recommendations to support more effective regional cooperation, as well as an outreach program to broaden the impact of the institute’s training and research. The CAREC Program started in 1997 to improve living standards and reduce poverty in member-countries through more efficient and effective regional economic cooperation. To date, the program has focused on financing infrastructure projects and improving the region’s policy environment in the priority areas of transport, energy, trade policy, and trade facilitation, which are critical to improving the region’s economic performance and livelihoods of the people, especially the poor. The current CAREC participants include Afghanistan, Azerbaijan, PRC, Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan and Uzbekistan. The region is home to a portion of the historic Silk Road, a loose network of trade routes linking PRC to the Mediterranean Sea and Southern Asia to Central Siberia.
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ASEAN BIZTIMES
October 1-15, 2008
EDITORIAL
China on a swing
Happy Eid-al-Fitr!
W
E greet today our Muslim brothers with peace and joy as they end the period of Ramadan. This means that the moon of Shawwa is already sighted. Hence, the end of fasting and sacrifices which are meant to cleanse each individuals of his sins, mistakes and wrongdoings and to extol fundamental distinctions, lauding the power of the spiritual realm, while at the same time, acknowledging the subordination of the physical realm. The Eid called for everyone to embrace the person sitting on either side of oneself and join in prayer for forgiveness, mercy and help for the plight of Muslims across the world. These collective gestures of people extend even to the departed as brother Muslims visit the graveyard of their loved-ones. “Salamat Hari Raya” or “Salam Aidilfitri” meaning “Happy Eid” especially to our brothers and sisters in Malaysia, Singapore, Indonesian and Brunei. We also greet “maaf zahir dan batin” which means “forgive my physical and emotional wrongdoings” as Eid-al-Fitr is not only for celebration but also the time to cleanse our souls and strengthen our ties. We look forward therefore to a calmer and more peaceful world. We extend our hands of reconciliation and pray for harmonious relations everywhere. After all, if ever there is conflict between Muslims and Christians and other religious dominations nowadays, it could probably just be a matter of lack of awareness of our cultures, traditions, beliefs and practices. We should therefore take time and pause to understand one another on a closer look.
TO BAIL OR NOT TO BAIL
HTH BY LUIS T. ARRIOLA P TO this writing, the US$700 Billion bail-out plan of United States President George W. Bush to ease the financial crisis afflicting the US and now extending to Europe and the rest of the world has not been approved yet by the US Congress. To many Representatives, it’s like “good money after bad” or “why would their government pay for the mistakes of the once high and mighty chief executive officers of US corporations from which they have personally earned windfalls during the past years.” In judicial terms, “let no one gains due advantage over another at no expense or effort on his past.” What irked Congressmen further is the word that the plan would include executivepay curbs as if corporate executives who have been enjoying perks in years will now have to make-do with lower take. Wow, that’s “adding salt to injury”. Many of these CEOs’ pay packages are more than the combine pays of their workers. To my mind, that is pure and simple selfaggrandizement. The US $700B Bail-Out Plan is looked upon as a bad American dream by critics as it appears to be nothing but a garage buy of US$700B worth of toxic assets of distressed banks. ASIA, a beneficiary The US financial crisis has its toll
U LUIS T. ARRIOLA EDITOR-IN-CHIEF
BING SAMONTE LANIE CABARLES KLANG CASTILLO PERNING MACHICA
RAL ARRIOLA VICE PRESIDENT
JONATHAN ARRIOLA BENJAMIN GACUSAN FE JOSEPH HELEN ONG
ADMINISTRATIVE
MICHAEL HO CHINA BUREAU CHIEF
BUSINESS DEVELOPMENT
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When the market is bullish, everybody look up at Wall Street for opportunities, miracles, windfalls, desires and greed. When that market shows signs of downfall or collapse, everyone goes back to Main Street to wake-up and cry for help, rescue, bail and survival.
on Asian countries but the moment the clouds clear up, some US powerhouses may end up in Asian hands. For one, the US is turning to China and Japan for its rescue plan or the private side, Japan’s Mitsubishi UFJ Financial Group may buy a large share of Morgan Stanley which is not spared from bad debts and market distrust. The role of US banks as universal financial lifeguards is now turning to be a picture of exhausted swimmers, whih are just a stroke or two away from drowning. Reality Check When the market is bullish, everybody look up at Wall Street for opportunities, miracles, windfalls, desires and greed. When that market shows signs of downfall or collapse, everyone goes back to Main Street to wake-up and cry for help, rescue, bail and survival. Smallness vs. Bigness; Speculations vs. Conservatism The present situation is just a redux of past experiences. In 1987, 1997 and now 2008 which probably be a part of the curse of “7s” as an extension of 2007, the probable cause of these market quakes are predominantly faced on too much speculations and device for quick and fast, returns instead of “for-the-longhaul” businesses and steady companies.
Players would rather choose the sexy stocks rather than time-tested ones. They would frown on small medium enterprises (SMEs) and would rather put all their eggs in the bigger basket of giants. Serves these well? Now, many of these guys are back to small, double, slow-but-sure kind of investments. Let their accumulate till they become greedy once again and lose all again. What a cycle? Somalia-Pirates Den For the last few months, Somalians disguising themselves are political extremists instead of plain bandits have been pounding on ships cruising into that African waters. They have held hostage these ships and crew for huge ransoms. These have gone unabated. These pirates are able to get huge ransoms and they are able to return to Somalia scot-free with their booty. The business has been so lucrative that these pirates are able to expand further. The whole world should condemn this brand of piracy and should take preventive actions against the perpetrators in Somalia both in land and sea. It appears further that these activities are sanctioned discreetly by the Somalian military. The infighting within the Somalian government is giving this market a big boost. Hope This Helps: ltarriola@aseanbiztimes.com
ASEAN BIZTIMES
October 1-15, 2008
WHAT’S BETWEEN CHINA AND TAIWAN? ASEAN’S ROLE? BY FIDEL V. RAMOS Former President of the Philippines
(LAST OF TWO PARTS) THE election of President Ma Ying-jeou and Vice President Vincent Siew in Taiwan has truly warmed up its relations with China. As reported in our column last Sunday, Taiwan’s new approach is “Economic Cooperation Before Politics,” replacing its former pro-independence fixation which kept both sides in a state of constant tension. The fresh winds of political rapport and economic teamworking now blowing across East Asia augurs well for the Philippines, with our long history of peaceful commerce and cultural exchange with nearby neighbors Fujian, Guangdong, Hongkong, Macau and Taiwan. THE ROLE OF ASEAN IN CHINA’S ECONOMY In my keynote address at the “3rd Forum on the Development of the Western Taiwan Straits Economic Zone” (WTSEZ) in Xiamen, Fujian last 07 September, I stated that the China-ASEAN Free Trade Area (CAFTA), established in November 2001, is progressing well towards its full completion in 2010 . CAFTA’s “Early Harvest Program,” starting in January 2004, reduced tariffs on 500 agricultural products. The “Agreement on Trade in Services” signed in January 2007 marked a key step forward, being the first agreement on services that ASEAN signed with other countries under the FTA framework. CAFTA covers 1.8 billion people, with a total 2007 GDP of over USD 3,000 billion and trade volume exceeding USD 1,200 billion. Thus, CAFTA has become the world’s largest FTA among developing countries, even as ASEAN negotiates new FTA agreements with Japan, ROK and India. China-ASEAN economic cooperation enjoys huge potential with China’s economy still ascending. China’s GDP is the world’s 4th largest and is world number one in foreign exchange reserves. Its accession to WTO membership further enlarged its FDI inflows, ranking 1st among developing countries for the past 11 years. China’s reforms to comply with WTO rules is facilitating its transition from being quantityoriented to being quality-oriented. Since 1995, China-ASEAN bilateral trade averaged 15% annual growth. In terms of investment, ASEAN is a major source of China’s foreign capital and is also the first destination of China’s “South-South” strategy. Overall, CAFTA has steadily developed, and its prospects for broader and deeper cooperation will surely grow. CORRECT LEADERSHIP Fujian’s “Outline for Building WTSEZ” is being implemented according to “scientific development,” adhering to four State Council mandates: continuity, upgrading, performance, and effectiveness. The progress achieved since 2006 in building WTSEZ profited from the “correct leadership” of the CPC Central Committee and the State Council, generous support from foreign investors, and the concerted efforts of all stakeholders within the South ChinaHongkong-Macau neighborhood. Fujian’s development strategy is being actualized through measures that promote project motivation; accelerate industrial clustering;
upgrade private enterprises; build marinebased industries; employ brand-name marketing; and balance urban and rural development in infrastructure, social undertakings, and environmental sustainability. Under CAFTA’s “Early Harvest” and subsequent tariff-reduction programs for 7,000 commodities, the complementation between the WTSEZ and ASEAN has, indeed, become substantial. In CAFTA’s build-up, overseas Chinese (85% of those of Fujian origin migrated to Southeast Asia) have served as bridges for regional integration because of their Mainland kinship. Reciprocal visits of business leaders from ASEAN and WTSEZ, seminars on twoway investments, and frequent economic dialogues could further widen CAFTA’s complementation. CHINA’S ECONOMIC OPTIMISM Amidst the global economic slowdown because of rising prices of food, fuel, and other basic commodities — plus the longplaying U.S. recession — China remains ready to overcome current challenges, inspite of growing inflation. In his keynote speech at the 12th China International Fair for Investment and Trade (CIFIT) — the partnerevent of WTSEZ’s Third Forum in Xiamen (in which I also participated) — Vice-Premier Wang Qishan affirmed: “The Chinese government is prepared for challenges to sustainable growth during the global slowdown. While China’s economy encountered difficulties this year, including severe winter weather in South China and the May earthquake in Sichuan Province, the Government undertook a series of macrocontrol measures to cope with the complicated situation. China’s GDP surged by 10.4% first half of 2008, with rising domestic consumption, investments, and exports. Foreign investors are still keen about investing in Sichuan Province.” Further, Minister of Commerce Chen Deming, main organizer of CIFIT, revealed that the Beijing Olympic Games would not hamper China’s economic growth, which was driven by robust domestic consumption and steady foreign trade. He said Olympics outlays accounted for less than 1% of China’s annual total fixed-asset investments for the past seven years. China Daily (09 September) amplified: “Vice Premier Wang Qishan informed 445 delegates from 104 countries that the global slowdown has little impact on China because its GDP maintained double-digit growth first six months of 2008.... Driven mainly by domestic consumption, investment and exports, China’s economy has become more balanced. The Government will improve services and guarantee a fair investment environment with a transparent legal system. The Government is encouraging foreign capital to flow into high-technologies, modernizing agriculture, energy-saving industries, and innovative services. China has made every effort to boost the economy after disastrous snowstorms lashed the southern and eastern provinces, and the Sichuan earthquake that killed 80,000 and caused billions of yuan in economic losses.” CLOSER TAIWAN-FUJIAN LINKS Of the various Chinese entities, the most prominent advantage belongs to Fujian Province resulting from its “Five Close Links” with Taiwan: (1) Close geographical distance. Fujian faces Taiwan with only 68 nautical miles between Pingtan Island of Fuzhou, Fujian and Xinzhu, Taiwan. (2) Kinship relationships. Over 80% of Taiwan compatriots have ancestral homes in Fujian.
(3) Cultural affinities. Both share the same dialects, customs, and progenitor cultures — Southern Fujian, Hakka, and Mazu (Goddess of the Sea). (4) Huge business ties. Fujian hosts 9,300 Taiwan-funded enterprises, and has recruited a total of USD 12.6 billion Taiwan investments, ranking third among China’s provinces. (5) Ancient historical links. Since the Song Dynasty, Taiwan had been under Fujian’s jurisdiction for 600 years. It was only in 1885 when Taiwan became a province on its own, although retaining the name “Fujian Taiwan Province.” CROSS-STRAITS TOURISM GROWING At the “Third Forum,” Minister Wang Yi of the State Council’s Taiwan Affairs Office announced that Mainlanders with permits to visit Taiwan could now travel to and from Taiwan through the islands of Jinmen, Mazu, and Penghu, under new policies: (1) Since 20 July, residents of Beijing, Tianjin, and Shanghai and the provinces of Liaoning, Jiangsu, Zhejiang, Fujian, Shandong, Hubei, Guangdong, Chongqing, Yunnan, and Shaanxi can visit Taiwan in groups, under a Mainland-Taiwan agreement. (2) Starting 25 September, each Mainland Travel Permit (MTP) holder will be assigned a permanent number. (3) Beginning 20 October, Taiwan compatriots traveling to the Mainland can obtain MTPs valid for five years in Beijing, Tianjin, Chongqing, and Shanghai, and in Zhejiang, Jiangsu, and Fujian provinces. (4) China will add Nanjing, Chongqing, Hangzhou, Guillin, and Shenzhen to the list of places that can issue travel permits to Taiwanese starting 20 October. Wang added: “In launching weekend charter flights and Taiwan tours for a greater number of Mainland residents, the people on both sides of the Straits have a strong wish for better ties. The number of Taiwanese travelers to the Mainland already reached 470 million by end-2007 (counting multiple visits), while 1.6 million Mainlanders traveled to the island, according to records of the Taiwan Affairs Office. Statistics also show that there are 700,000 Taiwan compatriots working and living in the Mainland.” Vice Minister of Commerce Jiang Zengwei added: “This year marks the 30th anniversary of both the opening up of the Mainland and the resumption of economic exchanges between the Mainland and Taiwan. ‘The past three decades have witnessed remarkable achievements in our economic cooperation.” He also recommended that an institutional arrangement for deeper cooperation needs to be established, resembling the Closer Economic Partnership Arrangement (CEPA) between the Mainland and Hongkong. WHAT SHOULD THE PHILIPPINES DO? PGMA and her Administration should: (1) Strategize and implement upgraded RP engagement in the emerging “Central East Asia” cluster (midway between Southeast Asia and Northeast Asia) consisting of FujianGuangdong-Hongkong-Macau-TaiwanPhilippines — for reasons cited above. (2) Reinforce RP offices in PHILCONGENXiamen and MECO-Taipei as contact/action agencies, with Secretary DTI as overall coordinator, in collaboration with Secretary DFA. (3) Maintain consistently high-level participation in China-Taiwan events for both RP authorities and business leaders. IN THE PHILIPPINES, IS IT NOT ALSO “ECONOMICS BEFORE POLITICS”? OR, IS IT THE OTHER WAY AROUND?? OR, IS IT JUST WAIT-AND-SEE??? — WAIT FOR 2010???? PGMA SHOULD ACT NOW SO THAT OUR PEOPLE WILL NOT MISS THE BOAT AGAIN!!!
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Influence BY J IMMY T EO Singapore
AT times I wish that the friends of my younger days were wiser. I would have then invested my money in real estate and choice land. I would have used my money more profitably in the right ventures. The famous King Solomon said: “He who walks with the wise grows wise, but a companion of fools suffers harm.” Let me share a sad true-life story— and is still pealing like a bell in my conscience. It is about a young and most promising teenager from my school (Victoria Secondary School) whom I had the opportunity to introduce to the school’s Christian group. He was first in also the brightest Sunday school student in his church! It was indeed a rare feat to be a scholar and sportsman at the same time. He also won the Shell Scholarship to England. But that was 25 years ago. All his friends from school and church waited eagerly to see him succeed in his career. One day, I was asked by his sister, a teacher, to go to her home to visit him. When I knocked at his room’s door, a long-haired and thin man with dazed eyes appeared. He looked like a hermit or mystic! From a handsome man to an old-looking hippie! He was that man. The shock was too much for me. In his room were other men in a similar condition. They were all on drugs! His future had crashed. I do not know where he is right now. He must have been wrongly influenced by foolish friends! You must learned to choose the right companions carefully. Avoid all those on drugs. Accept only those who can encourage and help each other to excel. You can take the leadership role and be a strong influence on your friends. By always striving to do good, you avoid doing wrong things. Wrong companions will bring harm. Visit the jails and you will see nice young men who are there because of having been wrongly influenced. To make good friends, go to the right meeting places. Churches and many social organizations are good meeting grounds. They also allow you opportunities to participate in their activities which are lawful. Do you know why parents go out of their way to choose the best educational institutions for their children? They want them to have the best influence possible! YZ
WE ARE INFLUENCED BY WORDS , SOUNDS, FASHIONS , NEIGHBOUR’S WEALTH AND OUR HEALTH AND WE KNOW THAT IT IS NEEDED TO GIVE US THAT PUSH TO DO BETTER E NJOYING AND PREPARING OURSELVES TO WANT ONLY THE GOOD INFLUENCES REJECTING THE BAD TO GUARANTEE GOOD LIVING.
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October 1
ASEAN BIZTIMES
Calendar of Tra PHILIPPINES 02-04 OCTOBER 2008 The Millionaire Show - 2008 The Millionaire Show-2008 will be a leading lifestyle show where top brands of international luxury goods gather to present their most beautiful and most exclusive products and services. It will be the most glamorous and exclusive show in town which offers opportunity for direct interaction with your potential customers. Venue: Mall of Asia Complex, Pasay, Philippines 02-04 OCTOBER 2008 Health World Expo Health World Expo is a new initiative aimed to provide international and local suppliers direct access to the lucrative Philippines healthcare industry. This is the only venue with a complete showcase of technology, solutions and education for every aspect of the medical and health sector. Venue: World Trade Center Metro Manila (WTCMM), Manila, Metropolitan Manila, Philippines 08-11 OCTOBER 2008 Philtronics Expo Philtronics Expo helps companies and individuals participating in the global semiconductor industry thrive by cultivating productive relationships with their customers and technology partners. Venue: World Trade Center Metro Manila (WTCMM), Manila, Metropolitan Manila, Philippines 08-11 OCTOBER 2008 Metalworking & Tools Philippines Metalworking & Tools Philippines is the only quality exhibition in Philippines that is tailored specifically to meet the needs of manufacturers of various Precision Engineering and supporting industries. It is poised to showcase the best in state of the art technology, machinery design, tools and parts manufacturing for the IT, Electrical, Electronics, Shipbuilding, Aerospace and Automotive Industries. Venue: SMX CONVENTION CENTER PHILIPPINES, Manila, Metropolitan Manila, Philippines 08-11 OCTOBER 2008 Philippines International Plastics Packaging Philippines International Plastics, Packaging will once again reinforce its position as THE ONLY ONE professional exhibition to evaluate profitable investment decisions in Plastic, Printing and Packaging equipment as well as technology industries. Venue: World Trade Center Metro Manila (WTCMM), Manila, Metropolitan Manila, Philippines 08-11 OCTOBER 2008 Philippines Plastics Packaging & Printing & Label Exhibition Philippines Plastics, Packaging & Printing & Label Exhibition is set to fortify its position as the foremost trade event uncovering the potential of these three synergistic sectors of the region. Philippines Plastics, Packaging & Printing & Label Exhibition sets the standard in terms of trade visits and exhibits being witnessed at the exhibition. Venue: SMX CONVENTION CENTER PHILIPPINES, Manila, Metropolitan Manila, Philippines 08-11 OCTOBER 2008 Print & Label Philippines Print & Label Philippines is an international exhibition for printing, packaging & labeling technologies. The exhibition will focus on new emerging trends in the industry. Venue: World Trade Center Metro Manila (WTCMM), Manila, Metropolitan Manila, Philippines 08-11 OCTOBER 2008 Metal Philippines Metal Philippines has continually been a must-attend platform for who’s who in the manufacturing industry where exhibitors can make on-site sales the most and visitors can experience thousands of new technology items. Venue: World Trade Center Metro Manila (WTCMM), Manila, Metropolitan Manila, Philippines 08-11 OCTOBER 2008 Manufacturing Technology World Series Manufacturing Technology World Series is the largest forum for domestic and international manufacturers and distributors to display the full range of manufacturing machinery, plantfloor automation technology and support products. This is the place to source and compare leading-edge production technology and innovation. Venue: World Trade Center Metro Manila (WTCMM), Manila, Metropolitan Manila, Philippines
INDONESIA
08-11 OCTOBER 2008 Envirotech Philippines Envirotech Philippines it will provide a unique opportunity for organisations wishing to reach the rapidly growing markets in local government, industry and private sector organisations for products and services designed to reduce, re-use, recycle and recover waste materials solid, liquid or gaseous for both business and industry. Venue: World Trade Center Metro Manila (WTCMM), Manila, Metropolitan Manila, Philippines
10-12 OCTOBER 2008 Anti-Aging Conference & Exhibition-Bali Anti-Aging Conference & Exhibition-Bali is thoughtfully designed to enrich medical and health care professionals with applied concept, practical protocols and tools in preventive, integrative anti-aging, and regenerative medicine practice. Venue: Grand Hyatt Bali, Bali, Indonesia
SINGAPORE
MALAYSIA
07-10 OCTOBER 2008 Carbon Finance Asia 2008 Carbon Finance Asia 2008 will serve as a platform where international buyers & investors will meet carbon project owners and developers in Asia to discuss potential deals and partnership opportunities. Venue: Grand Hyatt, Singapore
07-09 OCTOBER 2008 BioMalaysia 2008 BioMalaysia 2008 is an annual global event that showcases the progress of the Malaysian biotechnology industry in the field of agriculture, healthcare, industrial and bio-informatics. It provides an avenue for networking among industry players and knowledge sharing by experts in the field of biotechnology. Venue: Kuala Lumpur Convention Centre, Kuala Lumpur, Malaysia
07-10 OCTOBER 2008 Ethanol & Biofuels Asia 2008 Ethanol & Biofuels Asia 2008 is the only event in Asia that links the entire biofuel supply chain from upstream to downstream. In Ethanol & Biofuels Asia 2008 regulators, biofuel producers, feedstock suppliers, technology providers, project developers, oil companies, biofuel users, financiers and investors from Asia and beyond, will gather to discuss viable business ventures, technology innovations, economic applications, financing needs and the latest trends and prospects for the industry. Venue: Grand Hyatt, Singapore 07-10 OCTOBER 2008 Solar Energy Asia 2008 Solar Energy Asia 2008 will provide the largest Asian networking platform, where key players from the Solar Energy Industry including energy users and producers, manufacturers of energy equipment, parts and supplies, builders, architects, solution providers, investors, analysts, regulators and other solar energy industry specialists will gather to discuss the latest strategic, regulatory, technical and economic issues. Venue: Grand Hyatt, Singapore 07-10 OCTOBER 2008 Clean Energy Asia 2008 Clean Energy Asia 2008 brings together over 1000 leading clean energy specialists in 4 important energy related sectors: Ethanol & Biofuels, Wind Energy, Carbon Finance & Trade, Solar Energy. Clean Energy Asia 2008 is the unique opportunity for exhibitors to showcase brands, propagate leadership message, and spread awareness of their presence. Venue: Grand Hyatt, Singapore 09-13 OCTOBER 2008 ART Singapore ART Singapore is a much sought - after contemporary art fair held annually in Asia. It is both a trade fair and the place for art collectors to discover and acquire new artworks under one roof. ART Singapore will be held at Suntec Singapore International Convention & Exhibition Centre from 9 to 13 Oct 2008. In 2007 nearly 15,000 visitors & 87 exhibitors participated in this event. Venue: Suntec Singapore International Convention & Exhibition Centre, Singapore 13-16 OCTOBER 2008 SCM Logistics SCM Logistics in Singapore is the voice of not just the Asia Pacific supply chain community, but it is the voice of the global community - a community that recognizes the increasing importance of doing business in China, Korea, India, everywhere. A community that is truly local, regional and global in nature. It is the perfect environment for you to showcase your products, introduce new services or solutions and engage in ‘face to face’ marketing with your target audience. Venue: Raffles City Convention Center, Singapore 15-16 OCTOBER 2008 StocExpo Asia StocExpo Asia brings together oil and chemical companies as well as third party storage providers to view the latest equipment and services available for this sector. It will address key issues of concern to enable the safe and efficient management of today’s storage terminals. Topics to be covered will span commercial, regulatory and technical developments facing the sector. Venue: Suntec Singapore International Convention & Exhibition Centre, Singapore
07-08 OCTOBER 2008 Bio Malaysia Bio Malaysia is Malaysia’s premier life-sciences event, and one of the region’s most significant gatherings in this field. BioMalaysia will provide outstanding opportunities for knowledge gathering, networking and marketing, bringing together key players from the local and international industries. Venue: Kuala Lumpur Convention Centre (KLCC), Kuala Lumpur, Malaysia 10-12 OCTOBER 2008 Home Fair-Malaysia Home Fair-Malaysia offers inspirational design exhibits, culinary demonstrations, special events and an exciting line-up of seminars. It continues to offer very clever solutions and inspirational ideas. Home Fair-Malaysia really is the place where dreams can come true. Venue: Persada Johor International Convention Centre, Johor Bahru, Johor, Malaysia 10-12 OCTOBER 2008 Epicure Malaysia - 2008 Epicure Malaysia 2008 features gourmet food, wines, beverages, cigars, tableware, kitchenware and a host of wellness and lifestyle products. Visitors are given access to world-class chefs conducting cooking workshops. Venue: Sime Darby Convention Centre, Kuala Lumpur, Malaysia 10-12 OCTOBER 2008 MATTA Fair-Kuala Lumpur MATTA Fair will showcase a comprehensive range of travel and holiday products from all over the world in one place. During these three days, visitors can expect to find attractive bargains and great value in all the packages on offer. Venue: Putra World Trade Centre, Kuala Lumpur, Malaysia 15-19 OCTOBER 2008 Sabah International Trade Expo Sabah International Trade Expo is a multisector trade and investment exposition held every two years. This highly anticipated event is being held for the fourth time. Sabah’s premier trade exhibition focuses on the development of business, trade and investment opportunities both within the State of Sabah and Malaysia generally and with important regional and international trading partners. Venue: Sutera Harbour Resort, Kota Kinabalu, Sabah, Malaysia
THAILAND 07-09 OCTOBER 2008 Corporate Travel World Asia-Pacific 2008 CTW (Corporate Travel World) AsiaPacific 2008 is a conference and exhibition on Travel & Entertainment management for the Asia-Pacific region attended by corporate travel managers, travel agencies and suppliers who meet to discuss the impact of global and regional issues on business travel development. It is also the first and best ROI (Return on Investment) event on T&E management in the Asia-Pacific region. Venue: Bangkok Convention Centre at CentralWorld, Bangkok, Krung Thep, Thailand 07-09 OCTOBER 2008 Incentive Travel & Conventions Meetings Asia (IT&CMA)
Incentive Travel & Conventions, Meetings Asia is the region’s premier meetings and incentive travel show and is attended by some 1,500 delegates from more than 39 countries. IT&CMA is a platform for promoting the Asia-Pacific region as a MICE (Meetings, Incentive Travel, Conventions & Exhibitions) destination as well as a source for MICE visitors. Venue: Bangkok Convention Center, Bangkok, Krung Thep, Thailand 07-09 OCTOBER 2008 Corporate Travel World Corporate Travel World is a two-day conference and exhibition on Travel & Entertainment (T&E) management for the AsiaPacific region. It is a platform for hundreds of corporate travel managers, travel agencies and suppliers to meet and discuss the impact of global and regional issues on the development of business travel into and out of the region. Venue: Pattaya Exhibition & Convention Hall, Pattaya, Thailand 14-19 OCTOBER 2008 Bangkok International Gift Fair & Bangkok International Houseware Fair (BIG+BIH) Bangkok International Gift Fair & Bangkok International Houseware Fair (BIG+BIH) is a dedicated event showcasing the finest in giftware and homeware products. At Gift & Houseware International your company will make face to face contact with leading buyers from all over the world. Venue: The Challenger, Bangkok, Krung Thep, Thailand 15-17 OCTOBER 2008 Machinery Mart Machinery Mart, the absolute leading trade fair for the sector and venue for the highest provider and user competence, exhibitors from all over the world once again will put their efficiency and innovative power to the test before the best qualified international specialists. Venue: Bangkok International Trade & Exhibition CentreBITEC, Bangkok, Krung Thep, Thailand
TAIWAN 07-11 OCTOBER 2008 Broadband Taiwan Broadband Taiwan will access the technological development in the Broadband arena and offer insights into the very latest applications that are driving the market forward. Venue: Taipei World Trade Center, Taipei, Taiwan 07-11 OCTOBER 2008 Taipei International Electronics Autumn Show Find the export-quality products that you need direct from Taiwan manufacturers, at the Taipei International Electronics Autumn Show-the largest electronics trade show of its kind. A conference is held at the same time as the fair. Experts from ministries and industry will there discuss the technical and economic future of the Taiwan electronics. Venue: Taipei World Trade Center, Taipei, Taiwan 07-11 OCTOBER 2008 Taiwan RFID Taiwan RFID is the only exposition of RFID technology & applications in China. The emergence of a multi-billion dollar RFID market in the country, has attracted major global RFID players to exploit the emerging burgeoning Taiwan market. Venue: Taipei World Trade Center, Taipei, Taiwan 07-08 OCTOBER 2008 Photovoltaic Forum & Exhibition Taiwan Photovoltaic Forum & Exhibition Taiwan will provide the most propitious environment for showcasing new trends and applications in the photovoltaic Industry. Venue: Taipei World Trade Center, Taipei, Taiwan 15-17 OCTOBER 2008 Taipei International Textile & Apparel Show (TITAS 2008) Taipei International Textile & Apparel Show (TITAS 2008) will focus on middle and upstream yarn and fabric products, emphasizing high-added-value functional textiles and evoking
1-15, 2008
ade Fairs/Events 1st FilExpo Qatar 2008 THE first-ever Filipino expo in Qatar, scheduled to be held in October, will provide a platform for companies to tap the growing Filipino market and bring together Filipinos in Qatar. The ‘1st Filexpo Qatar ‘08’ is being brought to the country by ABS-CBN Middle East’s TFC World Tours. The expo, to be held from October 9 to 11, is aimed at helping Philippine and Qatar-based companies utilise opportunities in the Filipino market and offering Overseas Filipino Workers products, services and opportunities in the Philippines and the Gulf. The event will consist of a two-day exposition at the Qatar International Exhibition Center. The finest Filipino delicacies, handicrafts from the Philippines, fashionable apparel and high-tech gadgets are only some of the items that will be on offer during the affair, which is expected to attract more than 50 exhibitors from the Philippines and the Gulf and thousands of visitors. At the expo, real estate companies will also set up stalls for Filipinos wanting to acquire their dream home in the most relaxed environment ideal for a vacation in the home country. Popular singers will also be flown in from the Philippines to entertain visitors to the expo. The third day of the event will feature popular bands in the ‘2 nd Rakrakan Reload Qatar’ at the Qatar Sports Club. The upcoming expo follows the success of the 1st Filipino Exposition in Dubai: Tiangge, Bazaar, Atbp held in June at Dubai’s World Trade Center.
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ASEAN BIZTIMES
October 1-15, 2008
ASEAN BIZTIMES
October 1-15, 2008
Meet the New Prime Minister of Japan (TARO ASO born September 20 1940) is a Japanese politician, and current Prime Minister of Japan since September 24 2008. He also serves as the President of the Liberal Democratic Party (LDP), and has served in the House of Representatives since 1979. He was Minister for Foreign Affairs from 2005 to 2007, under Prime Ministers Shinzo Abe and Junichiro Koizumi, and he was briefly Secretary-General of the LDP in 2007 and again in 2008. On September 22 2008, Aso was elected to succeed Yasuo Fukuda as President of the LDP. On September 24, the Diet elected Aso as Prime Minister. Early life Aso, a Roman Catholic, was born in Iizuka, Fukuoka.[3] His father, Takakichi Aso, was the chairman of the Aso Cement Company and a close associate of Prime Minister Kakuei Tanaka; his mother was Prime Minister Shigeru Yoshida’s daughter. Aso is also a great-great-grandson of Toshimichi Okubo, and his wife is the third daughter of Prime Minister Zenko Suzuki. His younger sister, Nobuko, is the wife of Prince Tomohito of Mikasa, a first cousin of the Emperor Akihito. Aso first graduated from the Faculty of Politics and Economics at Gakushuin University. He then studied in the United States at Stanford University, but was cut off by his family, who feared he was becoming too Americanized. After making his way back to Japan on a ship, he left once more to study at the London School of Economics. Aso spent two years working for a diamond mining operation in Sierra
Leone before civil war forced him to return to Japan. Aso joined his father’s company in 1966, and served as president of the As? Mining Company from 1973 to 1979. He has distanced himself from the company’s use of forced labor during World War II. He was also a member of the Japanese shooting team at the 1976 Summer Olympics in Montreal and President of the Japan Junior Chamber in 1978. Political career Aso was elected as a member of the House of Representatives in October 1979, and has since been reelected eight times. In 1988, he became Parliamentary Vice Minister for Education. He joined the Cabinet of Junichiro Koizumi in 2003 as Minister of Internal Affairs, Posts and Communications. On October 31, 2005, he became Minister for Foreign Affairs. Aso was one of the final candidates to replace Koizumi as prime minister in 2006, but lost the internal party election to Shinzo Abe by a wide margin. Both Abe and As? are conservative on foreign policy issues and have taken confrontational stances towards some East Asian nations, particularly North Korea and, to a lesser extent, the People’s Republic of China. Abe was considered a more “moderate” politician than the more “hard-line” Aso, and led Aso in opinion polling within Japan. On August 1, 2008, Fukuda appointed Aso as Secretary-General of the LDP, a move that solidified Aso’s position as the number two
and the civil service, including inter alia: assistant judge of the Ministry of Justice in 1974, ministerial justice in the next year, justice of Chiang Mai’s Provincial Court in 1976, justice of Chiang Mai in 1978, justice of Chiang Rai in 1983, chief of the Bench of Phang Nga’s Provincial Court in 1986, chief of the Children and Juvenile Court of Rayong in 1987, chief of Chon Buri’s Provincial Court in 1988 and of Nonthaburi’s Provincial Court in the next year, and chief of the Bench of Thon Buri’s Criminal Court in 1990, respectively. Somchai held office as judge of the 3rd Region’s Appealate Court in 1993 and chief of the Bench of the 2nd Region’s Appealate Court in 1997. In 1998 Somchai was appointed as the Deputy Permanent Secretary of Justice for Academic Affairs, and later for Administrative Affairs. He became the Permanent Secretary of Justice on 11 November 2000, and was transferred to become the Permanent Secretary of Labour from 8 March to 30 September 2006, the date he retired from the public
TARO ASO Prime Minister of Japan
Taro Aso, 68, won in a landslide vote over several other candidates, including Yuriko Koike, the first woman to run for the nation’s highest office.
man in the party. Suddenly and unexpectedly, Fukuda resigned as Prime Mininster on September 1. Although several other LDP leaders sought to be the new leader of the LDP - and as a result, the job of Prime Minister - it was widely expected that Aso would win the post. In fact, Aso did win: he was elected as President of the LDP on September 22, 2008, with 351 of the 527 votes (Kaoru Yosano and Yuriko Koike got 66 and 46 votes, respectively). After his victory Aso said: “The greatest concern right now is the economy. America is facing a financial crisis ... we must not allow that to bring us down as well.” Manga fan Aso is a fan of manga since childhood. He had his family send manga magazines from Japan while
Meet the New Prime Minister of Thailand SOMCHAI Wongsawat (born 31 August 1947) is the incumbent Prime Minister of Thailand and a member of the People Power Party. Family Life Somchai was born at Amphoe Chawang, Changwat Nakhon Si Thammarat, being the son of Choem and Dap Wongsawat. He is the brother-in-law of Thaksin Shinawatra, being married to Yaowapha Wongsawat, the former prime minister’s sister. The couple have three children, Mr Yotthanan Wongsawat, Ms Chinnicha Wongsawat and Ms Chayapha Wongsawat, respectively. Wongsawat’s wife previously served as an MP in the Thai Rak Thai party led by her older brother, Thaksin Shinawatra. Like one hundred and one other members of the party, she was barred from participating in politics for a five-year period by the order of the Constitutional Tribunal for violation of election laws. Education Somchai completed his primary education in his home town, and his secondary education at Amnuay Silpa School in Bangkok. He received a bachelor of law from Faculty of Law, Thammasat University in 1970, becoming a barrister-at-law of the Thai Bar Association in the next three year, as well as completing a master of political science from the National Institute of Development Administration. Public Service Somchai has been appointed to various offices in the juridical service
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SOMCHAI WONGSAWAT Prime Minister of Thailand Incumbent Assumed office 18 September 2008 (Acting since 9 September 2008) Monarch: Rama IX Preceded by: Samak Sundaravej Born: 31 August 1947 (1947-08-31) (age 61) Nakhon Si Thammarat, Thailand Political party: PPP Spouse: Yaowapha Wongsawat Religion: Buddhist service after reaching pensionable age. Political Service As being a member of the People Power Party, he has been the deputy leader of the Party in 2007 and held office as the Minister of Education in the Next Year and Senior Deputy Prime Minister. Somchai has acted as the Prime Minister on 9 September 2008 upon the Constitutional Court’s decision that the premiership of Samak Sundaravej has been terminated for having been intermittently employed as the emcee of two cooking shows while in office. Somchai, on 17 September 2008, was elected to become the Prime Minister of the Country by the National Assembly, receiving 298 votes against 163 votes for Abhisit Vejjajiva. Bhumibol Adulyadej issued a Royal Proclamation appointing Somchai as the 26th Prime Minister on 18 September 2008.
Incumbent Assumed office 24 September 2008 Monarch: Akihito Preceded by: Yasuo Fukuda Member of the House of Representatives for Fukuoka’s 8th District Incumbent Assumed office 1996 Constituency: Fukuoka 8th District Majority: 145,229 (56.89%) in 2005 Minister for Foreign Affairs In office October 31, 2005 – August 27, 2007 Preceded by: Nobutaka Machimura Succeeded by: Nobutaka Machimura Minister for Internal Affairs and Communications In office September 22, 2003 – October 31, 2005 Preceded by: Toranosuke Katayama Succeeded by: Heizo Takenaka Director-General of the Economic Planning Agency In office November 7, 1996 – September 11, 1997 Preceded by: Shusei Tanaka Succeeded by: Koji Omi Born: September 20, 1940 (1940-09-20) (age 68) Iizuka, Fukuoka prefecture Political party: Liberal Democratic Party Spouse: Chikako Religion: Roman Catholic he was studying at Stanford University. In 2003, he described reading about 10 or 20 manga magazines every week (it was not only manga, but also the amount of reading is large in his case) and talked about his impression of various manga extemporaneously. In 2007, as Minister for Foreign Affairs, he established the International Manga
Award for non-Japanese manga artists. Aso has allegedly been witnessed reading the manga “Rozen Maiden” in Tokyo International Airport. He admitted in an interview that he had read the manga (but he said he did not remember whether he had read it in the airport), and described his impressions of the manga.
ASEAN BOARD…From page 1 From Bangkok Post The new six-country Asean board should start operations by mid-2009, comprising 180 stocks representing the 30 largest listed companies for each market. Nongram Wongwanich, an executive vice-president for the Stock Exchange of Thailand, said officials of the six participating exchanges hoped to select a vendor in August to set up a trading system for the new board. The two vendors being considered are NYSE Euronext and the Nasdaq OMX Group. The vendor would be responsible for establishing a trading platform allowing real-time updates for all securities on the board. The Asean board concept is aimed at facilitating links between the stock exchanges of Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam. The 180 securities to be included in the new board would have a combined m a r k e t capitalization of US$818.66 billion, or 59% of the combined m a r k e t capitalization of the six e x c h a n g es Stock Exchange based on of Singapore
Stock Exchange of Thailand
current data. Financials would lead the board in terms of industry, followed by industries and consumer goods. Mrs. Nongram said that by joining together, the six Asean members could raise their profile in the global financial market beyond what any single exchange could do on its own. If the Asean stock markets were combined, the resulting entity would rank 13th in the world, according to the World Federation of Exchanges. The Asean board alone would rank 20th among WFE members. The Asian board would first start with Thailand and Singapore, to be followed by the other four markets. Mrs. Nongram said the SET would select securities for participation based on companies ranked in the SET50 index. Final selections would be based on market capitalization, trading liquidity and the availability of information, such as research coverage by analysts.
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ASEAN BIZTIMES
October 1-15, 2008
Avoid being WORLD Mental Health Day was observed for the first time in 1992. It was started as an annual activity of the World Federation for Mental Health. Mental health is about the way you think and feel and your ability to deal with ups and downs. It’s important to take care of yourself and get the most from life. We have put together 10 practical ways to look after your mental health. Making simple changes to how you live doesn’t need to cost a fortune or take up loads of time. Anyone can follow our advice. Talk about your feelings Talking about your feelings can help you stay in good mental health and deal with times when you feel troubled. Talking about your feelings isn’t a sign of weakness. It’s part of taking charge of your wellbeing and doing what you can to stay healthy. Talking can be a way to cope with a problem you’ve been carrying around in your head for a while. Just being listened to can help you feel supported and less alone. And it works both ways. If you open up, it might encourage others to do the same. Drink sensibly We often drink alcohol to change our mood. Some people drink to deal with fear or loneliness, but the effect is only temporary. Keep active Experts believe exercise releases chemicals in your
CRAZY!!!
brain that make you feel good. Regular exercise can boost your self-esteem and help you concentrate, sleep, look and feel better. Exercise also keeps the brain and your other vital organs healthy. Keep in touch “Just chilling out with friends relaxes me. We have a laugh and I feel good.” Strong family ties and supportive friends can help you deal with the stresses of life. Friends and family can make you feel included and cared for. They can offer different views from whatever’s going on inside your own head. They can help keep you active, keep you grounded and help you solve practical problems. There’s nothing better than catching up with someone face-to-face. But that’s not always possible. Give them a call, drop them a note or chat to them online instead. Keep the lines of communication open. It’s good for you! Ask for help None of us are superhuman. We all sometimes get tired or overwhelmed by how we feel or when things go wrong. If things are getting too much for you and you feel you can’t cope, ask for help. Take a break A change of scene or a change of pace is good for your
mental health. It could be a five-minute pause from cleaning your kitchen, a halfhour lunch break at work or a weekend exploring somewhere new. A few minutes can be enough to de-stress you. Give yourself some ‘me time’. It can be good to have an interest where you’re not seen as someone’s mum or dad, partner or employee. You’re just you. An hour of sketching lets you express yourself creatively. A morning on the football pitch gets you active and gives you the chance to meet new people. Accept who you are Some of us make people laugh, some are good at maths, others cook fantastic meals. Some of us share our lifestyle with the people who live close to us, others live very differently. We’re all different. It’s much healthier to accept that you’re unique than to wish you were more like someone else. Feeling good about yourself boosts your confidence to learn new skills, visit new places and make new friends. Care for others “Friends are really important… We help each other whenever we can, so it’s a twoway street and supporting them uplifts me.” Caring for others is often an important part of keeping up relationships with people close to you. It can even bring you closer together.
HOROSCOPE FROM:
Rev. Fr. Wongsengtian Taoist Grand Minister & Feng Shui Master
(For the period of October 1-15, 2008) RAT – Invest wisely and don’t be greedy, income might be bigger and so would be the loss. OX – Always think twice before you act and get to know your children’s friends. TIGER – There’s threat of robbery. RABBIT – There’s threat of robbery in the house and fire outbreak. DRAGON – A difficult month and you need to be cautious; be patient at work place. SHENG LIAN TEMPLE SNAKE – Communicate and discuss things 159 Bayani St. via with concerned persons, take care of health. G. Araneta Avenue, Quezon City, Philippines HORSE – Personal luck gets affected by Tel No: (63-2)711-2714/ household problems. (63-2)732-0334 Mobile No: 0918-3990997 SHEEP – Fortune last month continues. MONKEY – Danger lurks, be cautious of E-mail: wongsengtian@yahoo.com health and travelling. ROOSTER- Your fortune is doing fine. DOG – The fortune is good, there’s money, possible promotion and chance of travelling. PIG – Beware of accident and getting injured.
SEXY ALICIA MAYER SAYS YOU CAN GET IT UP BY GOING VEGETARIAN New PETA Ad Advises That Viagra Might Get You Through the Night, but Going Vegetarian Can Get You Through Life “Viagra might get you through the night, but a healthy vegetarian diet can get you through your life”, says Mayer. “A man who stuffs his belly full of dead pig flesh in the kitchen might end up delivering dead wood in the bedroom.”
OCTOBER 1, 2008 TODAY IS GOOD FOR: MOVING TO NEW PLACE; MOVING BED; GENERAL CLEANING; PUTTING LUCKY CHARMS; TRAVELS Today is not favorable for those born under the sign of: DRAGON OCTOBER 2, 2008 TODAY IS GOOD FOR: GROUNDBREAKING; OPENING BUSINESS; RAISING LIVESTOCK; MOVING TO NEW PLACE; TRAVELS Today is not favorable for those born under the sign of: SNAKE OCTOBER 3, 2008 TODAY IS GOOD FOR: DEMOLITION; GENERAL CLEANING Today is not favorable for those born under the sign of: HORSE OCTOBER 4, 2008 TODAY IS GOOD FOR: ENGAGEMENT; WEDDING; GROUNDBREAKING; INSTALLING STOVE/MACHINE; OPENING BUSINESS; NEGOTIATING DEALS/ VISA; TRAVELS; BURIAL Today is not favorable for those born under the sign of: SHEEP OCTOBER 5, 2008 TODAY IS GOOD FOR: GROUNDBREAKING; INSTALLING STOVE/MACHINE; BURIAL; MEETING FRIENDS Today is not favorable for those born under the sign of: MONKEY
OCTOBER 6, 2008 TODAY IS GOOD FOR: DEMOLITION; REPAIRS Today is not favorable for those born under the sign of: ROOSTER OCTOBER 7, 2008 TODAY IS GOOD FOR: BAPTISMAL; GROUNDBREAKING; MOVING BED; INSTALLING STOVE/MACHINE; SETTING ALTAR; PUTTING LUCKY CHARMS; BURIAL; TRAVELS Today is not favorable for those born under the sign of: DOG OCTOBER 8, 2008 TODAY IS GOOD FOR: WEDDING; GROUNDBREAKING; MOVING TO NEW PLACE; MOVING BED; MEETING FRIENDS Today is not favorable for those born under the sign of: PIG OCTOBER 9, 2008 TODAY IS GOOD FOR: DEMOLITION; GENERAL CLEANING Today is not favorable for those born under the sign of: RAT OCTOBER 10, 2008 TODAY IS GOOD FOR: RAISING LIVESTOCK; GENERAL CLEANING Today is not favorable for those born under the sign of: OX OCTOBER 11, 2008 TODAY IS GOOD FOR: BAPTISMAL; MOVING TO NEW PLACE; OPENING BUSINESS; NEGOTIATING DEALS/
VISA; GROUNDBREAKING; PUTTING LUCKY CHARMS; SETTING ALTAR; MEDICAL CHECK UP; TRAVELS Today is not favorable for those born under the sign of: TIGER OCTOBER 12, 2008 TODAY IS GOOD FOR: BURIAL; GENERAL CLEANING Today is not favorable for those born under the sign of: RABBIT OCTOBER 13, 2008 TODAY IS GOOD FOR: BAPTISMAL; ENGAGEMENT; WEDDING; MOVING TO NEW PLACE; MOVING BED; OPENING BUSINESS; NEGOTIATING DEALS/VISA; RAISING LIVESTOCK; PUTTING LUCKY CHARMS; SETTING ALTAR; TRAVELS Today is not favorable for those born under the sign of: DRAGON OCTOBER 14, 2008 TODAY IS GOOD FOR: DEMOLITION; GENERAL CLEANING Today is not favorable for those born under the sign of: SNAKE OCTOBER 15, 2008 TODAY IS GOOD FOR: BAPTISMAL; MOVING BED; RAISING LIVESTOCK; SETTING FORTUNE TABLE Today is not favorable for those born under the sign of: HORSE
ASEAN BIZTIMES
October 1-15, 2008
INFOTECH
NEXT GENERATION TELECOMMUNICATIONS COMPANY BELL TELECOMMUNICATIONS PHILIPPINES INC. (BELLTEL). Recently upgraded their current connection with IP-Converge – the Information Technology and Telecommunications division of publicly-listed IPVG Corp. (PSE:IP) by 45 Mbps. This is in-line with the expected growth of the Philippine broadband industry of nearly 1 million subscribers in 2007 to 4 million by 2012. The internet sector is well positioned for growth, with a deregulated market, strong government support for IT development and an increasing internet savvy population.
HOMEGROWN COMPANY UPBEAT ON OUTSOURCING INDUSTRY, REGISTERS WITH PEZA. In line with its business expansion plans, Pointwest Innovations Corporation (Pointwest), a 100% Filipino IT services company recently signed with the Philippine Economic Zone Authority (PEZA) as an Information Technology Export Service Company in the country. Pointwest was also granted approval as a locator in the UP North Science and Technology Park, the sole Science and Technology Park in the Philippines today. Photo shows (seated from L-R): Francisco Dizon, Pointwest Vice Chairman; Ma. Cristina Coronel, Pointwest President; Atty. Lilia De Lima, PEZA Director General; and Robert Cokeng, Pointwest Chairman formalizing the agreement. Looking on are (from L-R): Augusto Gonzalez, Pointwest Director; Ma. Josefina Reyes, Pointwest Senior Executive and Renato Quizon, Pointwest Executive Director Business Development and Strategy.
Apple sells SIM-free iPhones in Hong Kong APPLE has broken with tradition and is offering some customers a SIM unlocked version of its iPhone. A notice on Apple’s web site states that consumers in Hong Kong can buy an unlocked 8GB iPhone for HK$5,400 (£385) or a 16GB version for HK$6,200 (£422). Apple has not made much of a splash about the release, which goes against its usual regionlocked policies.
13
SANPIRO GENERAL SERVICES CORPORATION
Wishi ng th na shin thee bes bestt ffoor Chi Chin on iits ts 59th IIn ndepe ndence D ay epen Day 9623A Pililia Street Rizal Village 1208 Makati City E-mail: sanpiro@asia.com
Tels.: Fax:
870-9421 898-0372 870-9422 897-5219
Facebook’s new general counsel coy about role
“An iPhone 3G purchased at the Apple Online Store can be activated with any wireless carrier. Simply insert the SIM from your current phone into iPhone 3G and connect to iTunes 8 to complete activation,” reads the information on the Hong Kong Apple Store pages. No such information is present on the UK site, where buyers are limited to the O2 network. Although Apple does not usually offer unlocked iPhones, a simple web search returns many ‘how-to’ guides for doing it yourself, a practice that any firm would be keen to discourage. It is possible that Apple has started the process in Hong Kong, and will roll it out further. However, the firm currently has exclusive relationships with a number of carriers, which may make such a move difficult.
FACEBOOK’S appointment of Ted Ullyot as its first general counsel might spook some in freewheeling Silicon Valley: he served as chief of staff to former U.S. Attorney General Alberto Gonzales and as an associate counsel to President George W. Bush. But in an interview Monday with CNET News, Ullyot said that his past resume will make it easier for the fast-growing social network to deal with Washington insiders—because he used to be one himself. “Having served in the executive branch in Washington and also in the judicial branch, I have a pretty good understanding of those issues,” Ullyot said. “So to the extent that
matters come up in those areas that have a legal component as distinct from a purely policy component, having a background in the federal government can help you understand the way government regulators think.” Ullyot declined to provide specifics on his role at Facebook, which he starts in the middle of October, with the justification that he isn’t yet familiar enough with the company’s workings. Fair enough. For example, he wouldn’t make a call on what would happen to any still-extant lawsuits against the ill-fated Beacon advertising program, or whether Facebook would take a stand against the U.S. House of Representatives’ rejection of Monday’s $700 billion
Wall Street bailout. The general counsel at Microsoft, which has a $240 million stake in Facebook, has petitioned to the government to reconsider. “I’d just want to take a look at the issues,” Ullyot said. “In my prior senses (as a general counsel), what I’ve really concluded in those is that every company is very different, unique, and has a particular sense of legal issues and challenges,” Ullyot explained. “And so the key for me, for any general counsel, is going to be to come on board, to study the issues, immerse yourself in the company, ask a lot of questions, and just get up to speed on the issues as fast as you can, so that’s what you look forward to doing.”
Red Hat deepens commitment in the Philippines STRONGER Commitment. Red Hat, the world’s leading provider of opensource solutions, deepens its commitment in the Philippines with the recent appointment of MSI-ECS Phils Inc. as its distributor. Both companies are bullish that it will grow the market for Red Hat Enterprise Linux, increase enterprise adoption of Red Hat virtualization and JBoss middleware technology, and expand the ecosystem of open
Sealing the deal are (from left) Teong Eng Guan, ASEAN General Manager of Red Hat.; and Jimmy Go, President, MSI-ECS Phils. Inc.
source partners in the Philippines; especially with
MSI-ECS’ more than 500 resellers in the Philippines.
Nintendo adding camera and music playback to new DS SIGHTS and sounds are on the way to Nintendo’s handheld in an effort by the Japanese gaming giant to remain competitive in the growing portable space against PSP and iPhone. Japanese business publication Nikkei offered the first snapshot of what Nintendo’s next iteration of the DS would be like this weekend: along with dual screens and a microphone, the handheld is reportedly packing a camera and ability to play music. Nintendo adding camera and music playback to new DS Is the iDS coming? Thanks to a translation from
Wired, the article outlines Nintendo’s intention to release a new version of the DS in Japan before the end of the year with these added non-gaming features. No mention of the device’s release in other regions. While not confirmed, the
report offers a convincing hint that a new DS is on the way. Along with a camera and music playback, another article outlined the new DS boasting larger screens and easier connectivity with Wii. That story has since been taken down. Nintendo has long maintained a pure focus on gaming, but the company’s push for mainstream acceptance could be fueling this new multipurpose handheld. Simultaneous press events in Tokyo and San Francisco scheduled for later in the week point to a big announcement, which is likely to be confirmation of the Nikkei report.
14
ASEAN BIZTIMES
October 1-15, 2008
Biz
LITES
people•events•places•products•services•socials cultural
Dubai newest and most expensive hotel A $1.5 BILLION Atlantis hotel opened few days ago on Dubai’s palm tree-shaped island. The lavish digs include: dolphins flown 30 hours from the South Pacific, a $25,000 a night suite, an open-air tank with 65,000 fish, stingrays, and other sea creatures, and 16 restaurants. Compared to the rest of the Arab world, where Islamic faith is gaining significance in the lives of youth, residents of Dubai can choose to worship more modern wonders like nightclubs and
PUERTO PRINCESA CITY SPONSORS THE MUTYA NG PILIPINAS CONTEST 2008. Picture shows Mayor Edward Hagedorn, Mayor of the City of Puerto Princesa City in the Philippines (in white barong) during the launching of the Mutya ng Pilipinas quest and the signing of Memorandum of Agreement with the Mutya franchisor, Mr. Tito de Venecia. They are surrounded by the reigning Mutya ng Pilipinas 2007 beauty queens. casual girlfriends. Religion has become a personal choice, rather than a collective i d e n t i t y, according to a recent New York Times profile. Young workers explain that Dubai, an Islamic state, allows Muslims to embrace a religious life if they choose, while also achieving career advancement and lifestyle comforts. Still others are confused, saying that
the contradicting culture — “you can have prostitutes, but don’t get caught with a woman” — takes time to get used to. Perhaps economic growth could mean a new way of life in the Middle East.
EEI Receives Record-Setting Safety Award in Saudi Arabia EEI Corporation (EEI) – one of the country’s leading construction companies – recently attained a safety record of 20 Million Manhours Without Lost Time Arising from Injury in its project for Eastern Petrochemical Company (also known as Sharq) in Al-Jubail, in the Kingdom of Saudi Arabia (KSA). This milestone
sets a safety record in Saudi Arabia as the highest-ever achieved by any contractor working on a single project. Photo shows EEI President and Chief Executive Officer, Roberto Jose L. Castillo (third from left) receiving the award in simple ceremonies held at the Le Meridien Hotel in Al Khobar, KSA from Sheik Abdullah of Saudi Aramco.
The Company, through its joint venture company, Al Rushaid Construction Company Ltd. (ARCC), is undertaking the erection of furnaces and balance-of-plant construction works valued at $270 million for the Sharq project. It currently employs 6,500 personnel for this project – which is about 84% of the 7,750 EEI workforce in KSA.
ASEAN BIZTIMES
October 1-15, 2008
Biz
SPORTS
15
Alonso springs a Singapore surprise
RENAULT’S Fernando Alonso scored a surprise success just when he most needed it, in one of the most eagerly anticipated Grand Prix in Formula One history, under the lights of Singapore on Sunday. And he owed much of it to team mate Nelson Piquet, whose crash on the 14th lap changed the face of the race. Ferrari’s Felipe Massa led from pole position from McLaren’s Lewis Hamilton and Kimi Raikkonen in the second Ferrari, and Alonso dropped way back when he was the first to stop as the result of an aggressive opening stint. Then Piquet had his shunt and out came the safety car. Fourth-placed Robert Kubica for BMW Sauber and Williams’ Nico Rosberg both pitted before the pit lane was officially opened, and when it was on the 17th lap, Massa’s race fell apart as he led Hamilton, Raikkonen, Toro Rosso’s Sebastian Vettel and Toyota’s Timo Glock. The green light within his cockpit told Massa he could restart, but the refuelling hose was still attached to his car. He knocked over a mechanic as the hose tore away, and fuel spewed everywhere. Subsequently he was given a drivethrough penalty for another unsafe exit in front of the Force India of Adrian Sutil. Kubica and Rosberg were given 10-second stop-and-go penalties. The Pole’s ruined his race, but Rosberg was able to keep in play even after
Chinnarat sizzles with 63 CHINNARAT Phadungsil produced a stunning round of 63 to surge into joint 13th place at the halfway stage of the AsiaPacific Open Golf Championship Panasonic Open in Osaka, Japan last Sept. 27. The 19-year-old golfer was flawless as he took advantage of playing in the morning session to fire seven birdies in the second round, which was suspended due to darkness. A two-round score of four-underpar 136 left him five strokes behind leader Kamane Yokoo who has yet to finish the second round at the par-70 Ibaraki Country Club West Course. “My driving was good as I hit all the fairways which is so important on this golf course,” Chinnarat said. Chawalit Phalapol who enjoyed the best result amongst the Thais in the first round, struggled yesterday with a 74 and slipped to 65th place. Prayad Marksaeng, Thaworn Wiratchan and Chapchai Nirat could not finish
serving his. In the pit stop shuffle Hamilton got delayed running behind Alonso, Rosberg, Toyota’s Jarno Trulli, Giancarlo Fisichella (who had started from the pit lane after set-up changes on his Force India), and Mark Webber and David Coulthard in the Red Bulls. Eventually
the British driver moved up to fourth behind Alonso, Rosberg and Coulthard, but he was losing a second a lap behind the Scot, and that was where his chance of winning evaporated. Not even a second safetycar period, on the 51st lap
after Massa spun and an unsighted Sutil crashed, could throw him a lifeline, but with Raikkonen crashing while fighting Glock for fourth place on the 58th lap, he could afford to settle for the six points that took his championship tally to 84 points, with Massa still on 77, Kubica 64 and
ALL ABOUT ALONSO
their second round. Prayad was at one-under after 12 holes,Chapchai was on two-over after 14 holes while Thaworn was four-over after 11 holes. Prom Meesawat withdrew from the event because of an injury to his wrist.
FERNANDO Alonso Díaz (born July 29, 1981 in Oviedo, Spain) is a Spanish Formula One racing driver and a two-time World Champion. On September 25, 2005 he won the World Driver’s Championship title at the age of 24 years and 58 days, thus breaking Emerson Fittipaldi’s record of being the youngest F1 Champion. After retaining the title the following year, Alonso also became the youngest double Champion. In 2007, he became the second F1 driver, after Michael Schumacher, to score at least 100 points for three consecutive seasons. Nicknamed El Nano, Alonso acts as a Goodwill Ambassador for UNICEF and is one of the directors of the Grand Prix Drivers’ Association. Records and achievements • Youngest World Champion: 24 years, 59 days in 2005 • Youngest double World Champion: 25 years, 85 days in 2006 • Youngest driver and least number of races to score 500 points at the 2008 French Grand Prix • Second youngest driver to start from pole position: 21 years, 237 days at the 2003 Malaysian Grand Prix (behind Sebastian Vettel: 21 years 74 days) • Second youngest driver to score a podium finish: 21 years, 237 days at the 2003 Malaysian Grand Prix (behind Sebastian Vettel: 21 years 74 days) • Second youngest winner: 22 years, 26 days at
the 2003 Hungarian Grand Prix (behind Sebastian Vettel: 21 years 74 days) • Second youngest driver to set fastest lap: 21 years, 321 days at the 2003 Canadian Grand Prix (behind Nico Rosberg: 20 years, 258 days) • Second driver (after Michael Schumacher) to score 100 or more points for three consecutive seasons (in 2005, 2006 and 2007) • Second highest number of podium positions in a season: 15 in 2005 (behind Michael Schumacher: 17 in 2002) • Second highest number of consecutive podium positions: 15 in 2005-2006 (behind Michael Schumacher: 19 in 2001-2002) • Third youngest driver to start from the front row of the grid: 21 years, 237 days at the 2003 Malaysian Grand Prix (behind Ricardo Rodríguez: 19 years, 208 days) • Third highest points total in one season: 134 in 2006 (behind Michael Schumacher: 148 in 2004 and 144 in 2002) • Third youngest to start a race at 19 years, 218 days at the 2001 Australian Grand Prix (behind Mike Thackwell: 19 years, 182 days and Ricardo Rodríguez: 19 years, 208 days) • First driver to win a nocturn F1 GP (2008 Singapore Grand Prix).
Raikkonen 57. Equally, McLaren were able to move a point ahead of Ferrari in the constructors’ chase. Thus Alonso scored his first win since Monza 2007 and Renault’s first since Japan 2006, and Rosberg scored his best-ever finish after a fine drive. Behind Glock, Vettel fended off Nick Heidfeld for fifth, and Coulthard and Kazuki Nakajima completed the points scorers. Jenson Button was ninth for Honda ahead of an unhappy Heikki Kovalainen, who lost out badly in a firstlap brush with Kubica as they fought over fourth place; the Pole was 11th from Sebastien Bourdais, the deeply unhappy Massa and Fisichella. Raikkonen was classified 15th. Trulli failed to finish with a mechanical problem, as did Webber; Barrichello ran out of fuel in his Honda, and Sutil and Piquet both crashed. With far more overtaking than the drivers had predicted, Formula One’s first-ever night race packed in plenty of excitement, and was adjudged a great success.