18 killed in massive explosion at Indian wedding: official

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Indian Army, NDRF and SDRF personnel carry out rescue work after a building collapsed due to a gas cylinder blast during wedding party in Beawar, in the Indian state of Rajasthan on February 18, 2018. // AFP PHOTO
Indian Army, NDRF and SDRF personnel carry out rescue work after a building collapsed due to a gas cylinder blast during wedding party in Beawar, in the Indian state of Rajasthan on February 18, 2018. // AFP PHOTO

18 killed in massive explosion at Indian wedding: official

Breaking News February 18, 2018 19:47

By Agence France-Presse
India

2,082 Viewed

Rescuers discovered nine more bodies Sunday beneath the ruins of a Indian hotel, bringing the known death toll from an explosion which tore through a wedding party to 18, an official said.

A gas cylinder exploded late Friday at the hotel in the city of Beawar, in the western state of Rajasthan, reducing the venue to ruins and sparking a huge fire.

By Saturday evening officials said nine bodies had been found.

But the figure rose sharply Sunday as rescue teams, aided by the army, found nine more victims including women and children under rubble.

“So far 18 bodies have been recovered,” said Gaurav Goyal, a senior administrative official in Ajmer, the district where the blast occurred, about 200 kilometres from the state capital Jaipur.

“Five seriously injured people, with severe burn injuries, are being treated in hospital,” he told AFP.

Recovery teams were sifting through mangled heaps of concrete and steel, removing victims on stretchers covered with white sheets.

The blast all but levelled the three-storey hotel where a wedding was underway. Eyewitnesses told local broadcaster NDTV the explosion occurred as a chef tried to refill a cooking canister.

Rajasthan Chief Minister Vasundhara Raje visited survivors in hospital late Saturday and announced compensation of 200,000 rupees ($3,106) each for the families of the dead.

“The cylinder blast at the wedding ceremony at Beawar is nothing less than a nightmare,” she said on Twitter.

Domestic gas cylinder explosions are common in India, where safety standards are relatively poor. Reports of fatal accidents from cylinder blasts are frequent but mass casualties are unusual.

Fire-hit Jokhang temple streets reopen after blaze at Tibet holy site

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Photo from: Twitter @RobbieBarnett
Photo from: Twitter @RobbieBarnett

Fire-hit Jokhang temple streets reopen after blaze at Tibet holy site

ASEAN+ February 18, 2018 19:44

By Agence France-Presse
Beijing

Streets around Lhasa’s fire-hit Jokhang temple, one of the most sacred sites for Tibetan Buddhism, were reopened to pilgrims Sunday after a blaze broke out the night before, Chinese state media said, but the extent of damage remained unclear.

The official Xinhua news agency said the fire had erupted Saturday evening in part of the more than 1,300-year-old Jokhang temple, but was soon put out.

Images posted on social media of the blaze showed the eaved roof of a section of the building lit with roaring yellow flames and emitting a haze of smoke.

“The fire was quickly extinguished, there were no casualties and order is normal in the area,” said the state-run Tibet Daily, adding that Tibet’s top Communist party official Wu Yingjie had rushed to the scene.

Jokhang temple is a UNESCO World Heritage Site which lies at the heart of old Lhasa.

The Barkhor — a bustling, shop-lined area surrounding Jokhang whose streets and square constitute one of the most important pilgrimage circuits for Tibetans — was temporarily closed after the fire but has been reopened, the state Xinhua news agency said Sunday.

Prominent Tibetan writer Tsering Woeser told AFP she was “very worried” about the state of the monastery.

“Tibetans consider Lhasa to be a sacred place, but Jokhang is a sacred place within that sacred place — the most sacred in all of Tibet,” she said. “Some people say it’s only because of Jokhang that the holy city of Lhasa exists at all.”

“No matter where they are in the world, Tibetans all wish to come to Lhasa to pray at Jokhang; it’s the wish of a lifetime. Many who make pilgrimage to Lhasa prostrating do so just to visit the temple,” she added.

The area has been the site of past protests against Beijing’s presence in Tibet.

On Twitter, which is blocked in China, Tibetans abroad noted that photos and posts about the blaze were quickly being censored.

Robert Barnett, a London-based Tibetologist, tweeted that sources in Lhasa “claim police have threatened anyone distributing pictures or unofficial news about the fire.”

 

– Home of a venerated icon –

 

The incident comes as Tibetans across the country are celebrating Losar, the traditional Tibetan New Year that began Friday, the same day as the Chinese lunar new year.

The temple had been closed to the public on Saturday, Xinhua reported, citing a schedule from local authorities from before the holiday began.

Jokhang monastery houses one of Tibetan Buddhism’s most venerated icons, the Jowo Shakyamuni — a statue believed to be one of just three crafted during the Buddha’s actual lifetime, depicting him at age 12.

It is also home to numerous other priceless cultural artifacts, including over 3,000 images of Buddhas, deities and historical figures as well as treasures and manuscripts, according to UNESCO.

Many murals and other items were damaged during the Cultural Revolution, but much of its wooden architectural structure had remained intact over the centuries despite countless renovations, said Woeser.

China has ruled Tibet since the 1950s, and has been accused of trying to eradicate its Buddhist-based culture through political and religious repression.

Beijing insists that Tibetans enjoy extensive freedoms and argues that it has brought economic growth to the region.

Foreign journalists are banned from visiting Tibet except on state-sponsored tours, as Beijing seeks to strictly control the narrative about the region, ranked the second-least free territory in the world after Syria by US think tank Freedom House.

In 2008, demonstrations by Tibetan monks in Lhasa degenerated into deadly violence targeting China’s majority Han ethnic group and the Hui, a Muslim minority.

Later that year, dozens of monks burst into Jokhang temple to interrupt a state-run foreign media press tour intended to showcase the region’s harmony and stability in the wake of the protests, accusing the government of lying.

More than 150 Tibetans have self-immolated in protest against Beijing since 2009, according to the International Campaign for Tibet, headquartered in Washington.

Myanmar farmers going against the grain with apps

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A farmer using a mobile app while working in a rice field on the outskirts of Yangon. // AFP PHOTO
A farmer using a mobile app while working in a rice field on the outskirts of Yangon. // AFP PHOTO

Myanmar farmers going against the grain with apps

Breaking News February 18, 2018 19:38

By Agence France-Presse
Myanmar

2,081 Viewed

A free app on farmer San San Hla’s smartphone is her new weapon in the war against the dreaded stem borer moth that blighted her rice paddy in southern Myanmar for the last two years.

As she watches her workers haul in this year’s harvest, the 35-year-old is in a triumphant mood, ascribing her victory over the seasonal scourge to advice received via the app about effective pesticide use.

This photo taken on December 27, 2017 shows farmers working in a rice field on the outskirts of Yangon. New smartphone apps are providing farmers with up-to-date information on everything from weather, climate change, crop prices to advice on pesticides and fertilisers. / AFP PHOTO 

“We used to just farm the way our parents showed us,” she told AFP, in her village of Aye Ywar west of Yangon.

“But after getting the app, I now see how we should be doing it… it’s better to use proper techniques rather than just working blindly.”

San San Hla is among a growing cohort of farmers who are turning to tech to address the knowledge gap in a country where two thirds of the workforce are employed in agriculture.

The sector accounts for some 28 percent of the country’s GDP, but yields are low with farmers cut-off from modern technology under decades of isolationist junta rule.

For people like San San Hla apps could be the answer.

They are providing farmers with up-to-date information on everything from weather, climate change, crop prices to advice on pesticides and fertilisers.

Chat forums are connecting farmers, allowing them to swap tips while experts are on hand to answer queries.

The “Green Way” app is the brainchild of two former agricultural students, who in 2011 set up a website for farmers, often working through the night to keep it updated.

This photo taken on December 27, 2017 shows farmer San San Hla using a mobile app as she works in a rice field on the outskirts of Yangon. A free app on San San Hla’s smartphone is her new weapon in the war against the dreaded stem borer moth that blighted her rice paddy in southern Myanmar for the last two years. New smartphone apps are providing farmers with up-to-date information on everything from weather, climate change, crop prices to advice on pesticides and fertilisers. / AFP PHOTO

But at the time few farmers had internet access, recalls Yin Yin Phyu, 28, explaining the “idea just didn’t take off.”

Then smartphones arrived and everything changed.

As Myanmar opened its doors, telecoms companies rushed in to grab market share, thrusting Myanmar beyond the era of desktop computers and old-style mobile phones.

The cost of sim cards, once the tightly-controlled reserve of the well-connected, or special branch spies, plummeted from an unattainable $3,000 in 2005 to $1.50 in 2013.

Competitors practically gave away smartphone handsets as they fell over themselves to build up brand loyalty.

Mobile penetration stood at just seven percent in 2012. By the end of 2017, smartphone penetration had rocketed to 80 percent.

A nascent tech hub followed and outside of agriculture, apps were created for everything from healthcare to Myanmar’s parliament.

Farmers, many among the country’s poorest, today find themselves with a mobile computer in their hands — a game-changer for the entrepreneurs behind ‘Green Way,’ who launched their app in 2016 and now employ 18 full-time staff.

“‘Green way’ is my dream to link farmers and experts,” Yin Yin Phyu told AFP. “The farmers can get help whenever they need.”

Some 70,000 farmers have already downloaded the app although she hears far more are accessing it through phone-to-phone sharing.

 

– Field work –

Greater productivity at Myanmar’s farms could reshape both its economy and society, says 71-year-old agricultural expert Myo Myint.

“Many workers migrate to other countries because they can’t make enough money to live from agriculture in Myanmar,” he says.

“Farmers need technology and investment.”

A 2017 World Bank study found farmers in some areas of the country still earn as little as $2 per day.

Productivity is also relatively low with only 23kg of rice paddy generated in one day of work in Myanmar compared to 62kg in Cambodia, 429kg in Vietnam, and 547kg in Thailand.

The founder of the “Golden Paddy” app says the new tech is not best suited to struggling farmers at the bottom of the ladder.

They do not have the time or resources to implement advice on changing seeds or fertiliser.

Instead, the apps are aimed at smallholder farmers to allow them to “become a little more commercial,” Dutchman Erwin Sikma explains.

Similar projects in other developing countries – in India and parts of Africa – are still reliant on old-style phones and information by SMS.

Myanmar now has the chance to leapfrog that era to become an agricultural trailblazer.

But that also means the country is in uncharted territory.

“We have a lot of first-mover disadvantages,” Erwin Sikma says.

“It’s a start-up in a completely new model in a completely new market or economy so we need all the help we can get.”

‘I fear for my life’: Philippine lawyer behind Duterte probe

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This photo taken on February 16, 2018 shows lawyer Jude Sabio gesturing as he shows the communication he submitted to the International Criminal Court against Philippine President Rodrigo Détente./AFP PHOTO
This photo taken on February 16, 2018 shows lawyer Jude Sabio gesturing as he shows the communication he submitted to the International Criminal Court against Philippine President Rodrigo Détente./AFP PHOTO

‘I fear for my life’: Philippine lawyer behind Duterte probe

ASEAN+ February 17, 2018 14:16

By Agence France-Presse
Manila

Philippine lawyer Jude Sabio felt it was his duty to bring President Rodrigo Duterte’s deadly war on drugs to the attention of international war crimes prosecutors, but now that a probe into the killings is under way, he fears he too has become a target.

Sabio, who describes himself as penniless and on the run, said he had received death threats from Duterte supporters on social media after filing a petition with the Hague-based International Criminal Court in April last year.

“I’m in a state of constant paranoia because I fear for my life,” Sabio, 51, told AFP in an interview. “It could be very possible that a bullet will hit me.”

ICC prosecutor Fatou Bensouda launched a “preliminary examination” after receiving Sabio’s petition, which alleges around 8,000 extrajudicial killings, and this could lead to a full investigation by the court.

Sabio wants the president arrested.

Duterte won a landslide victory in 2016 elections largely on a pledge to eradicate drugs. He is accused of stoking the killings with inflammatory statements and repeated promises to pardon any police officer charged with murder.

Police say they have killed 4,021 drug suspects in self-defence, but rights groups claim police and shadowy vigilantes have actually killed more than 12,000 people.

Duterte maintains he is beyond the ICC’s jurisdiction and has threatened to withdraw his country from the treaty that created it if the tribunal pursues a formal investigation.

“The problem with me is when I see something wrong I fight,” said Sabio, who had a low-key legal practice for two decades and unsuccessfully ran for public office twice.

“Now to the question of how it feels to be standing against Goliath, to me the fact that he is president, I’m sorry to say this, doesn’t matter to me.”

– ‘Treacherous –

The unassuming lawyer — the son of public school teachers of modest means — lost the 2010 election for mayor of a southern town and was disqualified for being a “nuisance” senatorial candidate in 2016, officially ruled as lacking funds to run his campaign.

But his life started to change course when in October 2016 he agreed to represent Edgar Matobato, a self-confessed assassin whose deposition forms part of the ICC case.

Matobato had spectacularly confessed at a Senate public hearing a month earlier that he was a member of the “Davao Death Squad” that killed at least a thousand people on Duterte’s orders when the president was mayor of Davao city.

The lawyer alleged in the suit that the drug war was the “Davao Death Squad” on a national scale, which Duterte rejects.

“It is targeting a vulnerable civilian population, composed mostly of the poor living in depressed communities,” Sabio said.

“The only way to stop the killings is to issue a warrant of arrest. Arrest president Duterte and bring him to The Hague.”

Sabio, a short, stocky man with an unruly moustache, has feared for his life ever since and he left his southern home city of Cagayan de Oro for his own safety a year ago — the last time he saw his 75-year-old mother.

His assassins could be “riding in tandem” he said, referring to gunmen on motorcycles, said by witnesses to be behind many of the unsolved street murders of known small-time drug dealers.

Responding to questions about the threat against Sabio, Duterte’s spokesman Harry Roque said Tuesday the president bore no “ill will” against the lawyer.

“Let’s make sure that if there’s a threat, he should report it to the police,” Roque told reporters.

However, Sabio hit back Friday, saying “these people are treacherous”.

He said he does not know Duterte personally and denied working for the opposition, taking on the case purely on principle.

But Sabio does not look like a crusader and is battling myriad health problems including diabetes and heart disease — twice going under the knife, the last in mid-2016, to insert six stents for clogged blood vessels.

He still owes the hospital 900,000 pesos (more than $17,000), and when he flew to the Netherlands to file the case “I had no money so people contributed for my plane ticket, and also for my hotel”.

Since leaving Cagayan de Oro, he has missed doctors’ appointments as well as meetings with other clients.

“I could have died in that operation,” Sabio said. “But I don’t know, I was brought to life and maybe this is my mission in life.”

US indicts 13 Russians for election interference

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US indicts 13 Russians for election interference

Breaking News February 17, 2018 09:44

By Agence France-Presse
Washington

The US special prosecutor investigating Moscow’s meddling in the 2016 presidential election on Friday indicted 13 Russians for allegedly running a secret campaign to tilt the vote, prompting claims of vindication from President Donald Trump.

The indictment — which includes the first charges laid by special counsel Robert Mueller for election interference — detailed a stunning operation launched in 2014 in a bid to sow social division in the US and influence American politics “including the presidential election of 2016.”

Mueller alleges that by mid-2016, the campaign — under the direction of Yevgeny Prigozhin, a close ally of Russian President Vladimir Putin — became focused on boosting Trump and demeaning his rivals including Democrat Hillary Clinton.

It allegedly involved “hundreds” of people working in shifts and with a budget of millions of dollars. Three companies were also indicted.

Moscow dismissed the allegations as “absurd.”

According to the indictment, members of the group posed as US citizens on Facebook, Twitter, YouTube and Instagram, posting content that reached “significant numbers” of Americans.

The group was allegedly in contact with “unwitting” members of the Trump campaign, but had a broader “strategic goal to sow discord in the US political system.”

Content created by the group was retweeted by the president’s two eldest sons Don Jr and Eric, as well as other top campaign officials and members of Trump’s inner circle.

“There is no allegation in this indictment that any American was a knowing participant in this illegal activity,” said Deputy Attorney General Rod Rosenstein.

He added that there was also no judgment on whether the campaign “altered the outcome.”

‘No collusion!’

Trump leapt on Rosenstein’s comments, claiming they vindicated his campaign team.

“Russia started their anti-US campaign in 2014, long before I announced that I would run for president,” he tweeted.

“The results of the election were not impacted. The Trump campaign did nothing wrong – no collusion!”

The allegations are a double-edged sword for Trump, who has repeatedly dismissed claims of Russian interference as “fake news” and a “hoax” designed to take away from his election victory.

On one hand, they confirm Russia interference, but they also seem to clear his campaign of knowing involvement with at least a portion of Moscow’s efforts to influence the contest.

Russia is also suspected of hacking and leaking embarrassing Democratic emails.

Four Trump campaign officials, including his campaign manager Paul Manafort and his national security advisor Michael Flynn, have already been indicted as part of Mueller’s broader investigation.

Trump has publicly mulled firing the former FBI director and has repeatedly sought to influence his investigation through public warnings.

On Friday, Trump seemed to say that the new indictments should put an end to allegations of campaign collusion.

“It’s time we stop the outlandish partisan attacks, wild and false allegations, and far-fetched theories, which only serve to further the agendas of bad actors, like Russia,” he said in a subsequent statement issued by the White House.

Troll farm

The group was said to be based in Putin’s home town of Saint Petersburg, but some of the accused traveled to the United States for political intelligence gathering.

Stops included Nevada, California, New Mexico, Colorado, Illinois, Michigan — a pivotal state in the election — Louisiana, Texas, Georgia and New York, according to the indictment.

An unnamed Texas-based American political operative is said to have instructed them to focus on so-called “purple states” — which swing between Republican and Democratic control.

The group organized pro-Trump rallies in Florida, New York and North Carolina, but much of its work was focused on producing material that was damaging to Clinton and Trump’s Republican rivals Ted Cruz and Marco Rubio.

The group purchased ads on social media and other websites either “expressly advocating for the election of then-candidate Trump or expressly opposing Clinton,” the indictment said.

Other ads encouraged blacks and Muslims not to vote, and alleged voter fraud in several states.

Two of the firms are said to have Russian government contracts.

Known as Putin’s “chef,” Prigozhin runs a company that works for the Kremlin to cater at receptions. He has been photographed with the Russian president. His Concord group is already under US sanctions.

Prigozhin made light of the allegations, according to Russia’s RIA Novosti state news agency.

“Americans are very impressionable people. They see what they want to see. I have great respect for them. I am not at all upset that I am in this list. If they want to see a devil, let them,” he said.

In carrying out the influence campaign, Prigozhin’s group is accused of buying US social security numbers and bank account numbers.

In a separate filing, Mueller indicted an American identified as Ricardo Pinedo for selling such information.

None of the 13 Russian suspects are in US custody.

“Thirteen people carried out interference in the US elections? Thirteen against the billion-dollar budgets of the special forces? Against the espionage and counter-espionage, against the newest developments and technologies?” foreign ministry spokeswoman Maria Zakharova wrote on Facebook.

“Absurd? Yes. But this is the modern American political reality.”

Japan backs $14.4 bn Philippine projects

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Japan backs $14.4 bn Philippine projects

ASEAN+ February 17, 2018 01:00

By PHILIPPINE DAILY INQUIRER
ASIA NEWS NETWORK
MANILA

5,538 Viewed

JAPAN will finance 19 infrastructure projects worth at least US$14.4 billion under the ambitious “Build, Build, Build” programme of the administration of President Rodrigo Duterte.

During the Fourth Philippines-Japan Joint Committee on Infrastructure Development and Economic Cooperation meeting in Lapu-Lapu City, the two sides discussed 11 projects in the pipeline to be financed by firm loans from the Japan International Cooperation Agency (Jica), six pitched for soft loans also from Jica, and three eyed for grants from the aid agency.

Documents showed that the biggest project to be funded by the Japanese government would be the 356.9-billion peso Metro Manila Subway Project Phase 1, which would primarily connect Mindanao Avenue in Quezon City and Food Terminal Inc in Taguig City, with a spur line to the Ninoy Aquino International Airport.

Finance Secretary Carlos Dominguez said the loan agreement for the country’s first underground rail system would be signed in March, with partial operations by the second quarter of 2022.

The construction of the 25.3-kilometre subway, whose rollout was already green-lighted by the National Economic and Development Authority Board chaired by Duterte in September last year, would start next year and is scheduled for completion in 2025.

Jica will also finance the 211.4-billion peso Philippine National Railways North 2 project connecting Malolos, Bulacan, and Clark Freeport Zone in Pampanga.

The loan agreement for PNR North 2 is expected to be signed by the fourth quarter of this year, following the Neda Board approval in June last year.

Construction of the 69-km railway with seven stations passing through Clark International Airport will start in January next year to commence operations by the second quarter of 2022.

Another big-ticket project to be funded by a Jica loan is the 124.1-billion peso PNR South Commuter or the North-South Railway Project (NSRP)-South Line, which will run between Tutuban, Manila, and Los Ba?os, Laguna.

The Philippine and Japanese governments are hoping to sign the loan agreement for the 72-km PNR South Commuter project also in the fourth quarter. Approved by the Neda Board in September last year, the commuter railway would be constructed starting January 2019, with operations to commence in the second quarter of 2022.

The Philippines and Japan last November signed the loan agreement for the 9.9-billion peso Cavite Industrial Area Flood Management Project. Of the amount, 7.1 billion pesos will be financed by Jica, while the remainder will be shouldered by the government.

Also up for Jica loan financing are: the 5.3-billion peso Arterial Road Bypass Project Phase 3 (formerly Plaridel Bypass); 5.4-billion peso Malitubog-Maridagao Irrigation Project Phase 2; 4.8-billion peso Dalton Pass East Alignment Alternative Road Project; 9.9-billion peso Road Network Development Project in Conflict-Affected Areas in Mindanao; 26.8-billion peso Pasig River-Marikina Channel Improvement Project Phase 4; as well as the three-year Metro Rail Transit 3 Rehabilitation and Maintenance, which the Department of Transportation said would start in May.

A 1.2-billion peso supplemental loan is also being eyed for the 7.8-billion peso New Bohol Airport Construction and Sustainable Environment Protection Project.

Soft loans from Jica are being sought for the 10.5-billion peso Circumferential Road 3 Missing Link Project; 9.9-billion peso Para?aque Spillway Project; New Manila International Airport Project; Third Mandaue-Mactan Bridge Project in Cebu; Natural Gas Pipeline Construction Project connecting Batangas and Manila, and a Drainage System in Metro Manila.

BSP cutting banks’ reserve requirement

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BSP cutting banks’ reserve requirement

ASEAN+ February 17, 2018 01:00

By PHILIPPINE DAILY INQUIRER
ASIA NEWS NETWORK
MANILA

THE PHILIPPINES’ monetary authority yesterday took the first small step towards its stated goal of freeing up more cash from banks’ vaults, which was seen to help fund the growing Philippine economy.

The move will free up an estimated 90 billion peso from bank vaults, which they could then use productively as loans to corporations, consumers or investments in equity or debt securities.

In a statement, the Bangko Sentral ng Pilipinas (BSP) said its policymaking Monetary Board approved the reduction in the reserve requirement by 1 percentage point.

The move is “an operational adjustment to support the BSP’s shift towards a more market-based implementation of monetary policy, as well as its broad financial market reform agenda,” said BSP Governor Nestor Espenilla Jr.

The reduction will apply to the reservable liabilities of all banks and non-bank financial institutions with quasi-banking functions with reserve requirement currently at 20 per cent.

The reduction in the reserve requirement ratios will take effect on the reserve week beginning March 2, 2018, the BSP said.

The move marks the first of what is expected to be a series of reserve requirement cuts by the central bank until Espenilla’s goal of reducing bank reserves to “single digit levels” is achieved.

The policy was communicated to the financial community soon after the BSP chief assumed office last year. He noted that, in the region, the Philippines was the only economy of its size to require banks to immobilize so much cash in their vaults.

This cash, once freed up, could be used more productively to help finance the 9-trillion peso infrastructure buildup programme of the Duterte administration.

“In deciding to reduce the reserve requirement ratios, the Monetary Board reaffirms the BSP’s commitment to gradually lessen its reliance on reserve requirements for managing liquidity in the financial system,” Espenilla said.

“The Monetary Board believes that the BSP has attained sufficient progress in its shift towards the use of market-based monetary instruments since the adoption of the interest rate corridor (IRC) framework in June 2016,” he added.

Sunway’s deal for Singapore estate viewed as positive

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Sunway’s deal for Singapore estate viewed as positive

ASEAN+ February 17, 2018 01:00

By THE STAR
ASIA NEWS NETWORK
PETALING JAYA

SUNWAY’S planned acquisition of a Singapore-based residential estate for S$530 million (Bt12.6 billion) is expected to contribute positively to its coffers, as the group expands its footprint in the city state.

Sunway unit Sunway Developments Pte Ltd plans to jointly acquire a private residential property – Brookvale Park in Singapore – with Hoi Hup Realty Pte Ltd.

Both entities have entered into a collective sale and purchase agreement (SPA) with the collective majority owners of Brookvale Park to acquire the property.

Upon completion of the acquisition, the Brookvale Park land will be redeveloped into a new private residential development.

The redevelopment of the Brookvale Park could strengthen Sunway’s topline contribution from Singapore, which is currently its second-largest market after Malaysia.

In a filing with Bursa Malaysia, Sunway pointed out that the Brookvale Park is located on 999-year leasehold land in Clementi. It is currently a 160-unit private residential estate with a land area of 34,654 sq m.

“A proposed joint-venture (JV) company will be set up, in which Hoi Hup, Sunway Developments and SC Wong Pte Ltd will have equity interest in the proportion of 60 per cent, 30 per cent, 10 per cent,” the filing said.

“The completion of the SPA with Hoi Hup is subject to the fulfilment of conditions precedent and authorities’ approval.

“The proposed project is expected to contribute positively to the earnings of the Sunway group from the financial year ending December 31, 2019, onwards,” it said.

Sunway Developments is a wholly owned subsidiary of Sunway Holdings Sdn Bhd, which is, in turn, a wholly owned subsidiary of Sunway Bhd.

Meanwhile, Hoi Hup is a company incorporated in Singapore and its core business is related to real estate development. On the other hand, SC Wong, which is also incorporated in Singapore, has been primarily involved in investment holding.

With an equity interest of 30 per cent in the JV, Sunway Developments’ cost of investment translates to nearly S$70 million.

Previous news reports said that Brookvale Park was launched for sale last year by tender for a minimum price of S$530 million. The private residential estate, which was built in 1983, is located in a strategic location within the exclusive Sunset Way enclave. Sunway added that the proposed redevelopment of Brookvale Park is subject to normal development and construction risks.

“However, with the past experience and expertise of Hoi Hup and Sunway Developments in the development and construction of similar projects, this risk could be mitigated,” it said.

None of the directors or substantial shareholders of Sunway have any interest, both directly and indirectly, in the proposed project.

Sunway, which has business interests in a wide range of segments including property development, construction and trading, and manufacturing, will be releasing its financial results for fiscal 2017 on February 28.

In the first nine months of fiscal 2017, the group’s bottom line rose by about 14 per cent year-on-year to 455.71 million ringgit.

In the same period, its revenue improved by 8.62% y-o-y to RM3.65bil, mainly as a result of higher contribution from most business segments, particularly property investment, construction and trading as well as manufacturing.

However, Sunway’s property development and quarry segment registered a lower topline and earnings on a y-o-y comparison basis.

The decline in its property development’s performance was mainly due to lower sales and progress billings from local projects.

On the other hand, the quarry segment’s lower revenue was attributed to a reduced sales volume for aggregates and premix, and a slightly lower selling price for aggregates.

E-logistics on the fast track in Vietnam

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/asean-plus/30339040

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E-logistics on the fast track in Vietnam

ASEAN+ February 17, 2018 01:00

By VIET NAM NEWS
ASIA NEWS NETWORK
HANOI

AS ONE of the fastest growing e-commerce markets in the world, Vietnam is considered a high-potential market for e-logistics, analysts say.

Vietnam has an average annual growth rate of 35 per cent in the sector. The boom in online shopping and home deliveries in the country in recent years have also created many opportunities for e-logistics operators, they said.

In 2017 alone, over 50 domestic and foreign e-logistics providers entered the market, which is predicted to reach US$200 million by 2020. They include Lazada, Giaohangnhanh, Grab Express and Speedlink.

The combination of local and international expertise has created a tailored solution for the Vietnamese e-logistics sector, paving the way for endless e-commerce growth, Fabian Wandt, country manager of Lazada eLogistics, told the Vietnam Investment Review (VIR).

Another delivery operator, Giaohangnhanh, is also upbeat about the prospect of the delivery market reaching a three-fold annual increase, particularly with investments from both local and foreign players to enhance their technology, network and offerings. Giaohangnhanh chief executive Nguyen Tran Thi told VIR that his company planned to expand its operations by more than double this year and targeted to reach 1,500 customer collection points by the end of 2018.

According to analysts, opportunities for companies providing e-logistics services are brighter, especially since new regulations aimed at enhancing the competitiveness of the logistics sector will soon come into force. Decision No 200/Q-TTg, which will provide the action plan to develop and raise the competitiveness of the logistics industry in Vietnam until 2025, will have a positive impact on the development of logistics companies.

With the state’s assistance in information technology, human resource training and operation cost reduction, the new decree is expected to help logistics companies, especially those providing e-logistics services.

AEC Feed

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/asean-plus/30339038

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AEC Feed

ASEAN+ February 17, 2018 01:00

By Asia News Network

Miner PT Borneo sets IPO at 400 to 600 rupiah

Indonesia’s coal mining company PT Borneo Olah Sarana Sukses (BOSS) has set the prices of its initial public offering (IPO) from 400 rupiah (2.95 US cents) to 600 rupiah (4.43 US cents) on Thursday.

The company is offering 400 million shares, equivalent to 28.57 per cent of its total capital, aiming to raise up to 160 billion rupiah.

BOSS director Widodo Nurly Sumady said proceedings from the the IPO would be added to its capital expenditure to fund infrastructure projects in coal hauling and jetty facilities.

Widodo said the coal miner was targeting increased production in 2018.

“Last year, we managed to produce 500,000 metric tons,” Widodo told a press conference at the Indonesia Stock Exchange (IDX). – The Jakarta Post

DICT pushes back entry of third telco player

Philippines’ Department of Information and Communications Technology (DICT) has pushed back the bidding exercise for a new telco player to May 2018 to ensure more participants in the selection process, its top official said.

The decision ran counter to President Duterte’s continued insistence for a third player to be up and running by March 2018— a timeline tagged by industry observers as unrealistic. Duterte wants a new telco player to enter the market and break the industry duopoly of PLDT Inc. and Globe Telecom.

DICT acting secretary Eliseo Rio said the tentative bidding date was set for May 18 this year, heeding the request for a two-month extension sought by interested participants during the last public stakeholders meeting on January 24.

“The request is coming from the contenders themselves,” Rio said in a text message Thursday. “If we force the end of March deadline, there might not be any bidders.”

Interested groups earlier said the March deadline was impossible to meet. They also cited holidays coming up, such as the Holy Week next month. – Philippine Daily Inquirer