Noble chief urges backing of restructure plan

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Noble chief urges backing of restructure plan

ASEAN+ April 26, 2018 01:00

By THE STRAITS TIMES
ASIA NEWS NETWORK
SINGAPORE

NOBLE Group chairman, Paul Brough, yesterday urged shareholders to support the current board and its restructuring plan, arguing that dissenting shareholder Goldilocks has not offered a credible alternative.

Brough added that with over 83 per cent of the company’s senior creditors supporting its restructuring agreement, it would be difficult to see how Goldilocks might be able to gain the support of other stakeholders for any proposal it may make.

In a press statement yesterday, Brough also said that Goldilocks’ notice to appoint directors to the board was “deficient””, and that the company was obliged to reject the notice in accordance to the firm’s by-laws and the laws of Bermuda.Goldilocks had nominated five individuals for election as independent non-executive directors of the company on April 23.

Brough said: “The board would be at risk of breaching its statutory and fiduciary responsibilities and, should the company do so, other shareholders and creditors may have a cause of action.”In addition, he noted that the current board is the “right board to deliver the restructuring”.

“The inference that I have been working to further the interests of the ad hoc group (of the company’s senior creditors) is baseless… I hold no interest in the company and will not participate in the management incentive plan for New Noble.”

Lastly, Brough urged shareholders to vote in favour of resolutions proposed by the company at its upcoming annual general meeting (AGM) to ensure that restructuring of the firm may be completed without further risk or delay. Noble will be holding its AGM on April 30.

$100m hit seen in Boracay closure

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$100m hit seen in Boracay closure

ASEAN+ April 26, 2018 01:00

By PHILIPPINE DAILY INQUIRER
ASIA NEWS NETWORK
MANILA

THE six-month closure of Boracay Island from tourists starting today will cost the Philippine economy more than US$100 million, which the country’s chief economist said would be compensated for by an increase in arrivals in other domestic tourist spots.

Citing an earlier estimate of the state planning agency National Economic and Development Authority, Socioeconomic Planning Secretary and Neda director general Ernesto Pernia told a press briefing that the temporary closure of the popular tourist destination, which will be rehabilitated from environmental degradation, would shed only 0.1 per cent from the country’s gross domestic product this year.

Noting that the economy was currently worth about 14 trillion pesos and was expected to grow by at least 7 per cent this year, about 980 million pesos a quarter would be lost, especially in the affected local government units. The closure of the island is estimated to cost about 1.96 billion pesos,

“Boracay [island], Malay [town], Aklan [province] and Region 6 will suffer – their growth rates will be trimmed,” Pernia said.

For Western Visayas, its gross regional domestic product growth would be cut by 5.7 percentage points, Pernia added.

The Neda chief nonetheless said that “on the other hand, there will be other areas in the Visayas earning some increase in growth rates; also, Luzon and Mindanao will have some increase” as tourists are instead expected to flock to other destinations in the country.

“We are only assuming that 50 per cent of the volume of tourists going to Boracay will be going to the other [local] destinations,” Pernia said.

“I would assume that closer to 70-75 per cent of those who used to go to Boracay will go to the other tourist destinations, especially domestic tourists.

“It’s going to be a temporary shortfall in terms of tourism income and tourist arrivals.

“Regarding the possible shortfall in tourist arrivals due to the Boracay closure, the Department of Tourism will have to step up its efforts at advertising and marketing our several other tourist destinations, so the same volume of tourists, if not more, will be diverted to these other beautiful locations.”

Private stakeholders in the tourism industry earlier projected that economic losses from the six-month closure of the world-renowned island could exceed 50 billion pesos in tourism |revenues while 35,000 jobs would be lost.

Most affected are the resorts and airlines, which have already cut back on their flights to and from the island.

$72 billion |invested via Bareksa portal

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$72 billion |invested via Bareksa portal

ASEAN+ April 26, 2018 01:00

By THE JAKARTA POST
ASIA NEWS NETWORK
JAKARTA

INDONESIA’S Digital investment portal PT Bareksa Portal Investasi announced that mutual funds invested through the firm had reached 1 trillion rupiah (US$71.89 million) as of Tuesday.

The figure is 17.6 per cent higher than on April 9, which was recorded at 850 billion rupiah, representing 122 per cent growth compared to December 2017 at 450 billion rupiah.

Bareksa co-founder Karaniya Dharmasaputra said the growth of the funds managed by the financial marketplace was supported by the increase in the number of investors.

As of April 24, the number of Bareksa’s clients had reached 110,000, a 10 percent increase than the 100,000 recorded on April 9, also representing a 73 percent increase than in December 2017.

“The increasing number of investors in Bareksa is in line with the growing interest in investment products,” said Karaniya in a statement on Tuesday, adding that Bareksa had innovated in response to the people’s needs.

He said Bareksa launched its collaboration with Tokopedia marketplace in March to allow people to purchase mutual funds through online transactions. It has also collaborated with Bukalapak and DOKU.

Gov’t announces borrowing plans, limits for 2018

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Gov’t announces borrowing plans, limits for 2018

ASEAN+ April 26, 2018 01:00

By VIET NAM NEWS
ASIA NEWS NETWORK
HANOI

VIETNAM’S Prime Minister Nguyen Xuan Phuc has announced the government’s plans on borrowing, repayment and borrowing limits for 2018.

Under Decision No. 437/ TTg issued last Saturday, the Government has approved plans to borrow 384 trillion dongs (US$16.91 billion) this year, of which 275.97 trillion dong will come from domestic loans and the rest will be foreign loans.

The loans will be used for balancing the State budget (341.77 trillion dong), offsetting budget overspending (195 billion dong), repaying principal (146.77 trillion dong ) and re-lending to enterprises (42.23 trillion dong).

The government also plans to pay 256.769 trillion dong worth of debts in 2018.

Under the decision, the prime minister also approved plans on borrowing limits guaranteed by the government. The limits for domestic bond issuance of Vietnam Development Bank and Vietnam Bank for Social Policies are 24.43 trillion dong and 9.67 trillion dong, respectively.

The limit for domestic and foreign borrowing for firms’ projects guaranteed by the government are set at 2 trillion dong and $700 million dong maximum, respectively.

Under the decision, the prime minister has directed the Ministry of Finance to implement the plans.

The prime minister last Friday also signed another decision to ease regulations on guarantee for new domestic and foreign loans taken by enterprises.

Under Decision No. 433/QD-TTg, the government will only limit its guarantee for new domestic and foreign loans of enterprises to implement their investment projects, instead of stopping all guarantees for new loans as was done earlier.

The new regulation is aimed at amending and supplementing Decision No. 544/QD-TTg, dated April 20, 2017, on approving a medium-term debt management programme during the 2016-18 period. Under Decision No. 544/QD-TTg, the Government decided to temporarily stop all guarantees for new loans of enterprises.

The prime minister also asked the Ministry of Finance to review the list of projects guaranteed by the Government in the first half of 2018 and submit it to him for consideration and approval.

The medium-term debt management programme during the 2016-18 period is aimed to mobilise loans at appropriate costs and risks to meet the need of balancing the State budget and socio-economic development during certain periods.

Besides this, the allocation and use of loan capital must be for the right purposes, ensuring debt repayment capability, maintaining the public debt index, Government debt and national foreign debt at a safe level as well as ensuring national financial security in line with Vietnam’s context and international practice.

Under the programme, public debt (including government debt, government guaranteed debt and local government debt) should not exceed 65 per cent of gross domestic product (GDP).

Joint push for SMEs to go online

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Joint push for SMEs to go online

ASEAN+ April 26, 2018 01:00

By THE JAKARTA POST
ASIA NEWS NETWORK
JAKARTA

SEVERAL government institutions and six online marketplaces in Indonesia launched on Tuesday a national campaign to help small and medium business enterprises (SMEs) operate online.

The movement, called “Ayo UMKM Jualan Online” (Let SMEs Sell Online), is aimed at attracting and persuading SMEs across Indonesia to sell products via online marketplaces to increase profits and prosperity. The government bodies that have taken part in the campaign include the Communications and Information Ministry, the Cooperatives and Small and Medium Enterprises Ministry and the Creative Economy Agency (Bekraf).

Online marketplaces involved include Blibli.com, Tokopedia, Bukalapak, Shopee, Lazada and Blanja.com.

Through the campaign, the government has set the goal of seeing 8 million SMEs go online by 2020, Cooperatives and Small and Medium Enterprises Ministry marketing service director Emilia Suhaemi said.

“SMEs have proven to be the backbone of the Indonesian economy, by contributing 62.5 per cent to Indonesia’s gross domestic product (GDP).

That’s why we have to support their development by helping them go online to expand their markets,” she said during the campaign launch. As of 2017, a total of 59.26 million SMEs operated in Indonesia, however only 3.97 million SMEs were active online.

UN concerned as Thailand blocks launch of report on Karen crisis

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A family of Karen is displaced from home after military clashes in Karen state in February
A family of Karen is displaced from home after military clashes in Karen state in February

UN concerned as Thailand blocks launch of report on Karen crisis

ASEAN+ April 25, 2018 20:02

By THE NATION

2,773 Viewed

THE UNITED Nations human rights body on Wednesday was alarmed by a move by Thai authorities to block the launch of a report revealing the humanitarian crisis in neighbouring Myanmar’s Karen state.

The report, “The Nightmare Returns: Karen hopes for peace and stability dashed”, was to be released at the Seven Fountains Centre on Chiang Mai province’s Huey Kaew Road, accompanied by an exhibition and panel discussion.

Shortly before the event was due to start Wednesday afternoon, local police told the organiser not to go ahead with the activity, a representative of the Karen Peace Support Network (KPSN) said. “They gave no reason. They just said we couldn’t do it,” said a NPSN staff member.

Local police in Chiang Mai could not be immediately reached for comment.

In the report, obtained by The Nation, the Karen ethnic community urges the Myanmar military to honour the Nationwide Ceasefire Agreement. It said more than 1,500 government troops had crossed into areas controlled by the Karen National Union (KNU).

The ethnic group planned to raise awareness about the plight of more than 2,400 Internally Displaced People recently forced from their land and homes in Mutraw’s Luthaw township by the Tatmadaw (Myanmar military). Cynthia Veliko, the regional representative of the UN Human Rights Office for Southeast Asia said her office continued to closely monitor the situation regarding rights to freedom of expression, association and assembly, and has consistently urged Thailand to fully respect these rights.

“We are alarmed by the pressure exerted by security agencies which led to the cancellation of this critical event by the co-organisers. This raised worrying concerns on the space available for freedom of expression, academic freedom and the importance of dialogue on this matter,” she said.

The KNU has been fighting for autonomy against the Myanmar government since independence from Britain in the middle of the last century.

Along with other armed ethnic groups, the KNU signed the National Ceasefire Agreement with Myanmar authorities in 2015. The truce pact called on all parties to prioritise political dialogue instead of force of arms, requiring that they confine their troops within designated areas. It stipulates that the movement of armed troops in areas controlled by the other party is allowed only after obtaining prior agreement.

However, the Karen said in the report that the Myanmar government did not honour the agreement, provoking dozens of armed clashes with the armed ethnic in the KNU controlled areas. The clashes displaced thousands of people from their farming land and homes.

As the Tatmadaw is showing no sign of withdrawing from their offensive positions, the displaced Karen are now facing the spectre of protracted displacement, and severe food and physical insecurity, the NPSN report said.

UN team to visit Myanmar’s Rakhine next week: official

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Rohingya refugees gather in the "no man's land" behind Myanmar's boder lined with barb wire fences in Maungdaw district, Rakhine state bounded by Bangladesh on April 25.//AFP
Rohingya refugees gather in the “no man’s land” behind Myanmar’s boder lined with barb wire fences in Maungdaw district, Rakhine state bounded by Bangladesh on April 25.//AFP

UN team to visit Myanmar’s Rakhine next week: official

ASEAN+ April 25, 2018 18:30

Maungdaw, Myanmar – A United Nations Security Council delegation which wants to see first-hand the impact of the Rohingya refugee crisis will arrive in Myanmar on Monday and visit Rakhine state, a senior government official said.

It will be the highest-profile UN visit to Rakhine since the start last August of a violent military crackdown on the Rohingya Muslim minority, which the UN and US have described as ethnic cleansing.

Mainly Buddhist Myanmar disputes the charge but has severely curtailed access to the conflict zone, blocking UN fact-finders and a rights envoy from entering the country.

After the Security Council first proposed a visit in February, Myanmar’s government said it was “not the right time” but it gave approval earlier this month for the visit by the 15 council ambassadors.

The crackdown has driven some 700,000 Rohingya into Bangladesh.

“They will come to Naypyidaw on 30th (April) and will proceed to Rakhine the next day,” a senior Myanmar official with knowledge of the trip told AFP, without providing more details.

The army’s scorched-earth campaign left hundreds of Rohingya villages razed to the ground while refugees have given consistent testimony of murder and rape.

Myanmar’s military rejects the allegations and insists the response was a justified campaign to root out members of the Arakan Rohingya Salvation Army, who killed around a dozen members of the security forces in August raids on police posts.

Myanmar and Bangladesh signed a repatriation deal for refugees to return in January but so far only one family has returned from a no man’s land between the two nations.

Several thousand Rohingya remain in the border zone, refusing to join the throngs in Bangladesh’s refugee camps but also reluctant to return until their safety and rights are secured.

Many Rohingya fear that returning to Myanmar will mean they fester for years in apartheid-like camps. In southern Rakhine some 130,000 Rohingya remain trapped in displacement camps after fleeing persecution in 2012.

The stateless group has faced decades of discrimination in mainly Buddhist Myanmar, which stripped them of citizenship.

“We will carry on waiting here until we are allowed to go back to our homes,” Rohingya leader Dil Mohamed told reporters from no man’s land through the border fence on Wednesday during a government-organised press trip.

“Our parents and grandparents are all citizens of this country… how come we are not citizens?”//AFP

Urgent : Indian court jails popular guru for life

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File photo : AFP
File photo : AFP

Urgent : Indian court jails popular guru for life

ASEAN+ April 25, 2018 17:04

Indian court jails popular guru for life for teen rape: lawyer

Jodhpur, India – An Indian guru with millions of followers was found guilty Wednesday of raping a teenage devotee on the pretext of ridding her of evil spirits, a lawyer for the victim’s family said.

Asaram Bapu, 77, who leads hundreds of ashrams in India and overseas, was convicted at a closed jailhouse court hearing in Jodhpur, in western Rajasthan state where hundreds of police stood guard.

The white-bearded guru, who urges followers to live a pious life free of sexual desires, has always denied raping the then 16-year-old in 2013 at an ashram in the city.

He is expected to be sentenced later Wednesday.

The spiritual leader was convicted of rape and breaches of child protection laws, said Utsav Bains, a lawyer for the victim’s family, who was informed of the verdict by colleagues at the closed prison hearing.

“There was no room for the court to acquit the accused. The victim stood by her allegations despite all the intimidation. It is a great victory and the credit goes to her resilience,” said Bains.

Two of the four other co-accused were also found guilty, Bains added. The remaining suspects were acquitted.

The hearing was closed to media and the prison surrounded by tight security.

The woman, now 21, accused Asaram of assaulting her on the pretext of driving away evil forces.

The influential guru, who has been in custody since 2013, had called the trial a political conspiracy and refused to cooperate with a police investigation. A perceived reluctance to bring the charismatic leader to account sparked public outrage.

The Hindu televangelist and yoga guru once attracted huge crowds to hear his sermons but Asaram’s star power has faded following the rape charges and other controversies.

But he still commands a devoted following and several Indian states were put on high alert and thousands of extra police deployed ahead of his trial, fearing riots if “Bapuji” was found guilty.

Devotees of another self-styled Hindu guru, who was jailed in 2017 for 20 years for rape, went on a rampage that lasted days and left 38 dead.

Asaram’s followers have been accused of attacking or pressuring those who have spoken out against the controversial guru into withdrawing their allegations.

Two close aides who turned key witnesses against him were murdered in 2014 and 2015.

Asaram is also accused of raping another devotee and involvement in the killing of two students at another of his Hindu retreats.

– Controversial ‘godman’ –

The conviction comes as India reels from several horrific sexual assaults that have again underscored the country’s grim record on rape.

The gang-rape and murder of an eight-year-old and a separate assault on a teenager by a ruling party politician has sparked revulsion in recent weeks and angry marches across India.

Under pressure to respond, the government last week approved the death penalty for those convicted of raping children under 12.

Prime Minister Narendra Modi — who was criticised for a slow response to the protests — has since promised “to hang the people of demonic tendencies who misbehave with daughters”.

“There is a government in Delhi which listens to the hearts of the people and decides on the basis of it,” he told a political gathering Wednesday.

Officials from Modi’s Bharatiya Janata Party (BJP) responded angrily Wednesday as the main opposition Congress party distributed photos of the prime minister alongside Asaram.

Asaram’s website boasts of many high-profile devotees and admirers, including Modi and other past prime ministers.

India has numerous self-styled “godmen” with legions of devoted followers but several have been embroiled in scandals in recent years.//AFP

Body of assassinated Palestinian given emotional send-off

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  • A man holds a placard showing portraits of late Fadi Mohammad al-Batsh, in Kuala Lumpur, Malaysia on April 25.//EPA-EFE
  • People shout as they carry the coffin containing the body of the late Fadi Mohammad al-Batsh, during prayer servicce in Kuala Lumpur, Malaysia on April 25.//EPA-EFE
  • Muslim women hold placards to show the portrait of the late Fadi Mohammad al-Batsh, before a special prayer service in Kuala Lumpur, Malaysia on April 25.//EPA-EFE

Body of assassinated Palestinian given emotional send-off

Breaking News April 25, 2018 16:50

Kuala Lumpur – The body of an assassinated Palestinian scientist was Wednesday driven through the Malaysian capital accompanied by a crowd shouting “God is greatest”, as mourners accused Israel of killing him.

    Fadi Mohammad al-Batsh’s corpse was set to be flown to Egypt later in the day before being transported on to Gaza for burial.

Batsh, a member of Islamist militant group Hamas and said to be a rocket-making expert, was murdered in a hail of bullets by motorbike-riding attackers Saturday as he walked to a Kuala Lumpur mosque for dawn prayers.

Family and friends of the 35-year-old have accused Israel’s Mossad spy agency of carrying out the killing but the Jewish state has denied the claims.

Hundreds of mourners marched through the capital under Palestinian flags accompanying a van holding the body, as they carried placards showing the victim’s face and chanting “God is greatest”.

The remains were taken to a mosque, where prayers for the dead were performed before about 500 mourners.

“Every Palestinian who has heard of this assassination is saddened and shocked,” Muslim Imran, chairman of the Palestinian Cultural Organisation of Malaysia, told the crowd.

“This crime, I believe, is another reflection of the nature of the Israeli occupation. They carry out crimes, massacres, not only in Palestine but also in the rest of the world.”

Earlier Wednesday police said they believed the two suspects accused of carrying out the hit were still in the country, and released a photograph of one of them.

The men were believed to have entered Malaysia in January but their nationalities were still not known, police said.

The motorbike they were allegedly riding was found abandoned Tuesday not far from where the assassination took place, and police were able to trace the photo.

It showed a man with wavy black hair, glasses and a goatee beard. Police previously released two computer-generated images of the suspects, showing two light-skinned men with beards.

Mossad is believed to have assassinated Palestinian militants and scientists in the past, but rarely confirms such operations.

Batsh’s expertise in making weapons could have made him a target — militants in Hamas-ruled Gaza regularly fire rockets at southern Israel, usually without causing casualties.

But Israeli Defence Minister Avigdor Lieberman has denied claims of the Jewish state’s involvement, suggesting instead that it was a “settling of accounts” between factions of a terror group.//AFP

Najib: Dr Mahathir should get an Oscar for his acting

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Najib: Dr Mahathir should get an Oscar for his acting

ASEAN+ April 25, 2018 14:48

By The Star
Asia News Network

2,618 Viewed

JERANTUT: Najib Razak has condemned former premier Tun Dr Mahathir Mohamad for always changing his stance.

The Prime Minister said Dr Mahathir deserved the Best Actor Academy Award for his “unprincipled ways”.

“He’s the No 1 actor. Previously, he cursed Anwar as the most terrible person,” Najib said, referring to PKR leader Datuk Seri Anwar Ibrahim.

“He used words I do not even dare to repeat. And yet he can casually meet Anwar in the courtroom and shake his hand.

“I cannot do the things he (Dr Mahathir) does. A person must have principles in politics,” Najib said at the launch of the Jerantut Barisan Nasional machinery here Wednesday.

He argued that Dr Mahathir was also being used by the DAP-led Opposition to split Malay votes.

During the event, Najib also announced the setting up of an Urban Transformation Centre in Jerantut.