6 in 10 teenage stars not attend school regularly: report

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6 in 10 teenage stars not attend school regularly: report

ASEAN+ October 02, 2017 13:37

By The Korea Herald/ANN

SEOUL – K-pop industry is booming in Asia and all over the world. But a large number of the entertainers’ are teenagers. They are usually required to give up their rights to be educated.

Six out of 10 teenage entertainers do not attend school regularly, a survey showed Monday, sparking worries over the K-pop industry‘s violation of the school-age children’s right to learn.

According to a 2016 report on pop culture industry submitted by Korea Creative Content Agency to Rep. Kim Byung-wook of the Democratic Party, only 35.3 percent of the entertainers aged under 19 went to school every day despite their work schedule.

Some 47 percent of them went to school two to three times a week and 5.9 percent went to school once or twice a month when they were working. Nearly 12 percent said they barely went to school, the report showed.

The local law stipulates that the teenage entertainers’ right to learn must be included when agencies sign contracts with them.

But only 20 percent of the agencies added the teenage entertainer’s duty to attend school to the terms and conditions of the contract. Nearly 53 percent of their agencies did not even check whether the teenage entertainers went to schools.

The teenagers were required to work late at night without any prior request, the report showed. Some 15 percent of the agencies said they were not seeking an agreement from the teenagers when they asked them to work at night.

For trainees, the working conditions were poorer. Some 23.5 percent of them did not sign a written contract with agencies. It took an average of one year and nine months for would-be actors and actresses to debut and two years and seven months for aspiring singers. Most of the agencies kicked out the trainees when they could not pass a monthly test.

“There is an explosive increase in the number of teenage entertainers, but protecting their rights such as the right to learn is insufficient. The government should lay out standardized guidelines,” said Rep. Kim.

Women plead not guilty to murdering N. Korea leader’s half-brother

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Women plead not guilty to murdering N. Korea leader’s half-brother

ASEAN+ October 02, 2017 11:01

By Agence France-Presse

SHAH ALAM, Malaysia – Two women pleaded not guilty Monday to murdering the half-brother of North Korea’s leader, at the start of their trial in Malaysia over the Cold War-style assassination that shocked the world.

Indonesian Siti Aisyah and Vietnamese Doan Thi Huong, who arrived at the heavily guarded court in handcuffs and wearing bulletproof vests, entered their pleas through interpreters as proceedings got under way.

The defendants were arrested just days after the killing of Kim Jong-Nam on February 13 as he waited to board a plane to Macau at Kuala Lumpur airport.

The women are accused of rubbing toxic VX nerve agent, a chemical so deadly it is listed as a weapon of mass destruction, on his face.

Kim died an agonising death about 20 minutes after the hit, which was caught on airport CCTV as the VX rapidly shut down his central nervous system.

The defendants — who face the death penalty if convicted — claim they were duped into believing they were taking part in a prank for a reality TV show.

The murder sparked an angry row between North Korea and Malaysia with both countries expelling each other’s ambassadors.

The women were led into Sham Alam High Court, outside Kuala Lumpur, in handcuffs for the start of the trial. Aisyah, 25, was wearing traditional Malaysian dress and Huong, 29, a blue jumper.

The murder charge was read to them in their native languages and interpreters assigned to the defendants indicated they were pleading not guilty.

Prosecutor Muhamad Iskandar Ahmad then read a statement giving details of the murder and said the prosecution had sufficient evidence to prove the women’s guilt.

“We will provide evidence that the dead victim was at (Kuala Lumpur International Airport) departure lounge when Siti Aisyah and Doan Thi Huong approached the dead victim and swiped a poisoned liquid on the face and eyes of the victim,” he told the court.

“The evidence clearly showed that their action to swipe the poison known as VX caused the death of the victim. Expert evidence will be shown that the VX was the cause of death and the chances to save him were extremely slim.”

He said the women had carried out exercises with four other people before the murder to ensure they succeeded in their “common intention” of killing Kim.

– Murder mystery –

==================

Defence lawyers immediately demanded the court reveal the names of four other people charged over the murder.

The four were formally accused in March of the assassination alongside Aisyah and Huong but authorities said they were still at large and have not disclosed their names.

Police have said four North Korean suspects fled Malaysia on the day of the murder, and the women’s defence teams insist these individuals are the main suspects.

About 200 police officers had been deployed to guard the court. The defendants arrived in a convoy of police cars with their sirens blaring.

The trial could at last shed light on the many unanswered questions surrounding the murder.

These range from how two women living precarious existences among Malaysia’s army of migrant workers allegedly became involved in a high-profile assassination, to how a lethal nerve agent was deployed in an airport and killed Kim but harmed no one else.

South Korea accuses the North of being behind the murder of Kim Jong-Un’s estranged half-brother, who had voiced criticism of the regime after falling from grace and going to live in exile overseas.

The North denies the allegation.

The run-up to the trial has been marked by fierce criticism from the women’s lawyers who say the accused are the fall guys in the case.

As well as the North Koreans who fled immediately after the assassination, several others allegedly linked to the murder plot were allowed to leave the country later to ease the diplomatic crisis.

The women’s legal teams also accuse prosecutors of dragging their heels on handing over key material required to mount a defence.

Prosecutors — who insist the women will get a fair trial — will lay out their case over two months and call 30 to 40 witnesses. The defence is then likely to be called.

Prior to the murder, Malaysia had been one of Pyongyang’s few allies amid a global outcry over the country’s atomic weapons programme.

After the assassination sent diplomatic relations plummeting between Pyongyang and Kuala Lumpur, tensions only eased when Malaysia agreed to return Kim’s body in March.

Tourism minister wants to learn from Thailand tourism

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During a meeting with Indonesian ambassador for Thailand Ahmad Rusdi, tourism minister Arief Yahya asked the Indonesian embassy (KBRI) in Thailand to learn about the way Thailand manages its tourism. (Shutterstock/File)
During a meeting with Indonesian ambassador for Thailand Ahmad Rusdi, tourism minister Arief Yahya asked the Indonesian embassy (KBRI) in Thailand to learn about the way Thailand manages its tourism. (Shutterstock/File)

Tourism minister wants to learn from Thailand tourism

ASEAN+ October 02, 2017 10:32

By The Jakarta Post/ANN

During a meeting with Indonesian ambassador for Thailand Ahmad Rusdi, tourism minister Arief Yahya asked the Indonesian embassy (KBRI) in Thailand to learn about the way Thailand manages its tourism.

“[Learn to] understand the greatness of Thailand in handling security, culinary, street food and homestay,” Arief said at the KBRI office in Bangkok on Sept. 28.

Arief mentioned that the culinary and street food of Thailand is very famous in the world, there’s always a Thailand restaurant in every country in the world and it’s always crowded with visitors. Thailand offers dishes that are suitable for Asian, European, Australian and American tastebuds.

“We have to learn from the success of Thailand because we’ve set them as our professional enemy,” added Arief.

Arief also encouraged Indonesian diaspora and KBRI to learn about the security in Thailand after hearing two of his friends talking about how good the service and safety in that country, “Please study this, we are willing to learn. The person-in-charge of this is Kiki [the ministry’s Southeast Asia tourism promotion assistant deputy, Rizki Handayani],” he said.

President Joko Widodo has set tourism as one of the nation’s economic cores, for the past three years tourism has been the leading sector and in 2018 it will be one of the three main prioritized industries besides agriculture and fishery.

“We will gladly help, last year Thailand welcomed 32 million overseas tourists,” said Ahmad.

According to The Telegraph, Indonesia is included in the Top 20 Fastest Growing Travel Destinations in the World.

The growth rate of overseas tourists in Indonesia is close to 24 percent whilst the growth rates for both ASEAN and global at six percent.

By the end of the discussion, Arief requested for the formation of a special team who will learn about the Thailand tourism industry.

Population aged 60 and over estimated to reach 13 million by 2050 in Myanmar

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Population aged 60 and over estimated to reach 13 million by 2050 in Myanmar

ASEAN+ October 02, 2017 10:26

By Eleven Media Group/ANN

NAYPYITAW – The number of population aged 60 or over is expected to reach 13 million by 2050, according to a statement by Population Department at the Ministry of Labour, Immigration and Population.

On September 27, the department released a research based on the 2014 nationwide census.

The research paper pointed out changing and aging population, social affairs, accommodation, economic conditions, health, life expectancy and differences of the elderly in term of regions.

According to the 2014 Nationwide Census, there are 4.5 million people aged 60 or over. The number of people aged 60 or over will account for 20 per cent of the total population.

In 2050, the number of aging population will be similar to that of children under 15.

Between 1973 and 2014, the population increased at an annual rate of 1.4 per cent and the number of population aged 60 or above increased at an annual rate of 2.4 per cent. Urban areas see more aging population than the rural areas.

Magway, Mon, Bago, Mandalay, Sagaing, Ayeyarwady and Yangon see the highest number of aging population. In 2030, the country will face the highest increase in aging population along with a decline in the number of population.

Trial begins over assassination of N. Korea leader’s half-brother

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Trial begins over assassination of N. Korea leader’s half-brother

ASEAN+ October 02, 2017 08:48

By Agence France-Presse

SHAH ALAM, Malaysia – Two women go on trial Monday accused of murdering the half-brother of North Korea’s leader, in an audacious assassination in Malaysia that stunned the world and sparked a diplomatic crisis.

Indonesian Siti Aisyah and Vietnamese Doan Thi Huong arrived at the heavily guarded court outside the capital Kuala Lumpur for the proceedings, handcuffed and wearing bulletproof vests.

The defendants were arrested just days after the killing of Kim Jong-Nam on February 13 as he waited to board a plane to Macau at Kuala Lumpur airport.

The women, both in their 20s, are accused of rubbing toxic VX nerve agent in his face.

Kim died an agonising death about 20 minutes after the hit, which was caught on airport CCTV as the VX — a chemical so deadly it is listed as a weapon of mass destruction — rapidly overcame his central nervous system.

The murder sparked an angry row between North Korea and Malaysia, which had been one of Pyongyang’s few allies amid global alarm over the country’s atomic weapons programme, with both countries expelling each other’s ambassadors.

The women — who face the death penalty if convicted — are expected to plead not guilty at the start of the trial. The pair claim they were duped into believing they were taking part in a prank for a reality TV show.

Defence lawyers are convinced the real culprits have left Malaysia and that the women’s innocence will be proven in court.

“We are fairly confident that at the end of trial, they will probably be acquitted,” Hisyam Teh Poh Teik, a lawyer for Huong, told AFP.

About 200 police officers had been deployed to guard Shah Alam High Court, where the trial will take place. The defendants arrived in a convoy of police cars with their sirens blaring.

The diminutive pair bowed their heads as they were led into court past waiting journalists.

– Mysterious murder –

=====================

The trial could at last shed light on the many unanswered questions surrounding the murder.

These range from how two women living precarious existences among Malaysia’s army of migrant workers allegedly became involved in a high-profile assassination, to how a lethal nerve agent was deployed in an airport and killed Kim but harmed no one else.

South Korea accuses the North of being behind the murder of Kim Jong-Un’s estranged half-brother, who had voiced criticism of the regime after falling from grace and going to live in exile overseas.

The North denies the allegation.

The run-up to the trial has been marked by fierce criticism from the women’s lawyers who say they are figures of convenience.

Some North Korean figures linked to the plot fled Malaysia immediately after the assassination, while others were allowed to leave the country later to ease the diplomatic crisis.

The women’s legal teams also accuse prosecutors of dragging their heels on handing over key material required to mount a defence.

Prosecutors — who insist the women will get a fair trial — will lay out their case over two months and call 30 to 40 witnesses. The defence is then likely to be called.

After the assassination sent the diplomatic temperature soaring between Pyongyang and Kuala Lumpur, tensions only eased when Malaysia agreed to return Kim’s body.

An Asian Cup football qualifier between Malaysia and North Korea was postponed amid the crisis, and delayed this week for a third time after Kuala Lumpur imposed a ban on travel to North Korea due to surging nuclear tensions.

Catalan leader threatens independence after chaotic vote

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Catalan president Carles Puigdemont poses before an AFP interview in Girona on September 30, 2017. / AFP PHOTO / PIERRE-PHILIPPE MARCOU
Catalan president Carles Puigdemont poses before an AFP interview in Girona on September 30, 2017. / AFP PHOTO / PIERRE-PHILIPPE MARCOU

Catalan leader threatens independence after chaotic vote

ASEAN+ October 02, 2017 08:26

By Agence France-Presse

BARCELONA – Catalonia’s leader Carles Puigdemont said the region won the right to break away from Spain, with his government claiming on Monday that 90 percent of voters backed independence in a banned referendum marred by clashes.

However Spanish Prime Minister Mariano Rajoy declared the Sunday plebiscite had been blocked, saying “today there has not been a self-determination referendum in Catalonia,” a region deeply divided over independence.

Further adding to tensions, unions and Catalan associations called a region-wide strike for Tuesday due to “the grave violation of rights and freedoms,” urging people to take to the streets in Catalonia, a major engine for Spanish growth.

At least 92 people were confirmed injured out of a total of 844 who needed medical attention, Catalan authorities said, as police cracked down on a vote Spain’s central government branded a “farce”.

The interior ministry said 33 police required treatment as a result of the clashes.

The violence raised alarm abroad and further heightened tensions between Rajoy’s government and the authorities in Catalonia in the worst political crisis in Spain in decades.

Rajoy called the vote a process that “only served to sow division, push citizens to confrontation and the streets to revolt”, but left the door potentially open to negotiations on greater autonomy for the region.

The referendum was organised under the threat of reprisals and criminal charges but thousands of Catalans stood in defiance of the central government crying “Votarem” — “We will vote”.

Puigdemont, who governs Catalonia, said in an address after polls closed: “With this day of hope and suffering, the citizens of Catalonia have won the right to an independent state in the form of a republic.”

He urged the European Union to stop looking “the other way” following the police crackdown.

In a press briefing, regional government spokesman Jordi Turull said 2.02 million Catalans voted for independence, or a 42.3 percent turnout.

He said that represented “90 percent” of the votes cast, while 7.8 percent said “no” to the question: “Do you want Catalonia to become an independent state in the form of a republic?”

A further two percent cast a blank vote, he added, and 0.5 percent of ballots were void.

Camped inside overnight

From early in the day, helmeted police armed with batons moved in en masse to seal off polling stations and seize ballot boxes, sparking clashes.

Videos posted on social media showed police dragging voters from polling stations by their hair, throwing people down stairs and attacking Catalan firefighters who were protecting polling stations.

“They took the ballot boxes by force… and they literally yanked them from us as we continued to sing ‘Els Segadors’, the Catalan hymn, and shouting ‘long live democracy’,” said Marc Carrasco, in charge at one Barcelona polling station.

The referendum law foresees a declaration of independence soon after a “Yes” vote but it remains unclear if the regional government will actually do so.

Even before the vote, judicial officials ordered police to seize ballot papers, detain key organisers and shut down websites promoting the referendum after Madrid and the courts deemed it unconstitutional.

Thousands of people had gathered outside polling stations before dawn, joining those who had spent the night camped inside to ensure they would be open on the day.

In central Barcelona, riot police charged at demonstrators who were sitting on the ground at a polling station, and fired rubber bullets, witnesses said.

‘Unjustified violence’

Riot police also stormed a polling station near Girona, smashing the glass doors of the sports centre where Puigdemont was due to vote and cutting a chain to force their way in.

But the regional government said Puigdemont had managed to vote anyway in nearby Cornella del Terri.

The crackdown drew a sharp rebuke from Catalan leaders and others including Nicola Sturgeon, leader of the pro-independence Scottish National Party.

The trouble caused Barcelona football club to play its La Liga tie against Las Palmas behind closed doors after the Spanish league refused to postpone the match.

But in several areas, voting was peaceful.

Under a sea of umbrellas outside a school in Barcelona, a crowd gathered, among them elderly people in wheelchairs, families with buggies and parents clutching toddlers by the hand.

With no police in sight, they were able to cast their ballots, prompting scenes of jubilation.

“I’ve voted! I’ve voted,” one man shouted.

“That’s the great hope, to be able to vote freely like this despite the problems we’ve faced, I’m very happy. I can die peacefully,” added Jose Mas Ribas, 79.

– Overtaxed, underfunded –

==========================

Although Catalans are divided over independence, most want to vote on the matter in a legal and binding plebiscite.

Although Catalonia already has significant control over education, healthcare and welfare, the region says it pays more in taxes than it receives from Madrid.

This has sparked resentment which has been further exacerbated by Spain’s economic woes and helped push the secessionist cause.

Lotte begins new governance under holding company

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Lotte begins new governance under holding company

ASEAN+ October 02, 2017 01:00

By THE KOREA HERALD
ASIA NEWS NETWORK
SEOUL

RETAIL giant Lotte officially launched its new holding company on Sunday, changing its governance system to strengthen chairman Shin Dong-bin’s control of the group and simplify its web of complex cross-holdings.

The plan to create Lotte Corporation, the holding company, was announced in April by the group and approved by shareholders in late August.

Touted as a part of Shin’s moves to increase management transparency at the group, the holding company merged the investment entities of four Lotte affiliates — Lotte Confectionery, Lotte Shopping, Lotte Chilsung Beverage and Lotte Food.

According to a disclosure filed on Saturday, the holding company will be headed up by co-presidents Shin Dong-bin and Hwang Gak-kyu, the head of Lotte’s management innovation office. The full board will be confirmed at the first board meeting, expected to come in mid-October directly after the Chuseok holiday. “This [holding] company will be tasked with business management evaluation and support and brand license management to increase Lotte’s company value,” the group said in a statement.

Trading on the four affiliates will resume on October 30. The value of the holding company is estimated to be between 4 trillion won (Bt116 billion) and 5 trillion won by market analysts such as OJ Nam of Samsung Securities.

Originally, Lotte Group had announced that the holding company would reduce circular holdings within the conglomerate from 67 to 18. However, that number fell to 13 once Lotte Engineering and Construction sold its 300,000 shares in Lotte Shopping in a block deal on September 14.

Reducing cross-shareholdings through Lotte Corp strengthens Shin’s hold on the group.

Industry analysts put Shin’s stake in Lotte Corp at just above 10 per cent, with that number expected to rise as affiliates continue to sell and buy shares to reduce cross-holdings. With a firm grip on the holding company, Shin is expected to be better able to steer the group through direct management.

AEC Feed

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AEC Feed

ASEAN+ October 02, 2017 01:00

By Asia News Network

China-led AIIB to lend $207.6 million for Metro Manila’s flood control

A China-led infrastructure investment bank has given its go-ahead for a US$207.63-million (Bt6.919-billion) share in financing the project aimed at improving flood management in Metro Manila.

The Asian Infrastructure Investment Bank (AIIB) is cofinancing the $500-million Metro Manila Flood Management Project, the first loan that the China-led development bank is extending to the Philippines.

The AIIB board on September 27 gave its go-ahead for a $207.63-million share in financing the project aimed at improving flood management in the National Capital Region by “constructing new and modernising existing pumping stations and their supporting infrastructure, by improving solid waste management practices within the vicinity of drainage systems served by the selected pumping stations, and by supporting the resettlement of impacted individuals.”

The World Bank will lend $207.63 million for the project, while the remaining $84.74 million will be shouldered by the national government, AIIB documents showed.

According to the AIIB, this project “will focus on about 56 potentially critical drainage areas with an approximate land area of 11,100 hectares or over 17 percent of the total area of Metro Manila.”

“This will include an area covered by new pumping stations of about 2,900 hectares, with a total population of about 970,000 people or about 210,000 households,” the AIIB added.

The project is aimed for completion in May 2024, according to the AIIB. – Philippine Daily Inquirer

Terms settled on deal to supply |rice to Bangladesh: CRF

Cambodia and Bangladesh have finalised terms on a massive rice deal that could see up to 1 million tonnes of rice purchased from Cambodia over the next five years, with the first shipment due to begin by November, a source close to the deal said.

Hun Lak, vice president of the Cambodia Rice Federation (CRF), confirmed that an agreement had been made between the two governments after the relevant ministries signed a memorandum of understanding (MoU) in August that hoped to replenish Bangladesh’s stockpiles after heavy flooding earlier this year decimated the country’s crops.

“We have already signed a price agreement with supply terms valid for six months in order to reach the export target of 250,000 tonnes,” he said. “We will start to ship biweekly from November to April. However, the total amount we will supply will be based on the level of local production and international market demand.”

He added that the deal, which will be managed by the state-run company Green Trade, allows for flexibility in the next harvest season that will begin in January. While he declined to provide the agreed upon price for the deal, he said that the current market price for Cambodian white rice was at $430 a tonne.

In late August, Reuters news agency reported that Bangladesh had agreed to purchase Cambodian rice at $453 a tonne, while local officials insisted that price negotiations were still ongoing.

Soeng Sophary, spokesperson for the Ministry of Commerce (MoC), said that the government would only play the role of helping the Cambodian rice sector access new markets, and that price agreements would be handled by the private sector.

“We are working on market access, but the private sector is responsible for fulfilling the agreements and reaching the export targets,” she said.

In 2016, Cambodia exported 542,144 tonnes of milled rice, a nominal 1 percent increase from the previous year, while rice exports reached 300,000 tonnes during the first half of the year, according to MoC data. Most of the rice has been bound for China after it agreed to an export quota of 200,000 tonnes of rice this year. – Phnom Penh Post

Former Indonesian president’s |plane design to start production

PT Regio Aviasi Industri (RAI), a company founded by former Indonesian president |BJ Habibie and his son Ilham Habibie, will |produce 80-seat passenger planes – R80 planes – beginning in 2024.

The plane was designed by Indonesia’s third president.

RAI president director Agung Nugroho said in Jakarta on Thursday that the plane was now in the phase of preliminary design and would be continued with full-scale development.

“We will develop the planes at full scale. They will be tested both in the air and on the land. We will construct four planes – two for flight tests and the two others are for land tests,” said Agung as reported by kompas.com.

After the completion of the prototypes, Agung added, his company would seek certificates from the Transportation Ministry before entering into mass production.

“We need about six years to make the planes fly. Then the planes will go through various tests for about two years. We can start selling the planes in 2025,” said Agung.

He said the planes, for the time being, would be constructed at a factory owned by state-owned aircraft manufacturer PT Dirgantara Indonesia. The company is now preparing a facility located near the Kertajadi International Airport in West Java.

He said four airline companies had expressed interest in buying the R80 places. They are Kalstar, Nam Air, Trigana Air and Aviastar. – The Jakarta Post (BBN)

Thousands of Transjakarta contract workers become permanent employees

City-owned bus operator PT Transportasi Jakarta (Transjakarta) has officially hired as permanent employees 4,316 of its contract workers, who had previously conducted strikes over labour issues.

In June, hundreds of contract workers of PT Transjakarta held a strike to protest their employment status.

The decision was made after a resolution team agreed to approve their demand, Jakarta Manpower and Transmigration Agency head Priyono said.

The team comprised officials from PT Transjakarta, the Jakarta Transportation Agency, the Manpower and Transmigration Agency, and other related institutions.

“The 4,316 workers who have been actively working at PT Transjakarta Busway since 2004 before PT Transjakarta was established, have been hired as permanent employees as per January 1, 2015,” Priyono said, as quoted on Saturday by kompas.com.

The city administration initially formed Transjakarta in 2003 as a public service body before transforming it into the Transjakarta Busway Management Body (UPTB) under the Transportation Agency in 2006. In 2013 it became the city-owned bus firm PT Transportasi Jakarta.

Another 111 workers who joined the company after 2015 and who had renewed their contracts more than three times, have been hired as permanent employees dating from the day they joined the company.

The remaining 1,847 workers who only renewed their contract once or twice |must undergo the company’s procedural |selection to be hired as permanent workers. – The Jakarta Post

Philippine government eyes bond issuances

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Philippine government eyes bond issuances

ASEAN+ October 02, 2017 01:00

By PHILIPPINE DAILY INQUIRER
ASIA NEWS NETWORK
MANILA

THE PHILIPPINE government continues to eye investments from Japan and China to fund the Duterte administration’s massive infrastructure push.

The government is mulling over the issuance of samurai bonds in Japan while firming up the upcoming sale of panda bonds in China, Finance Secretary Carlos G Dominguez III said.

“We will consider issuing samurai bonds in the future,” Dominguez said in a text message to reporters, referring to yen-denominated debt paper issued in Tokyo by non-Japanese firms.

Dominguez and the Duterte administration’s economic team were in Japan last Monday until Tuesday to firm up Japanese financing for big-ticket infrastructure projects, including the country’s first subway system, as well as pitch about the Philippines’ growth story.

From Wednesday to Friday, they moved to China to meet with Chinese government officials also to pitch infrastructure projects to be constructed under the ambitious “Build, Build, Build” program aimed at ushering in the “golden age of infrastructure”.

In Shanghai, the Department of Finance embarked on a non-deal roadshow to promote the upcoming issuance of panda bonds by the Philippine government.

Dominguez had said they planned to issue US$200 million (Bt6.7 billion) in three to five-year panda bonds by October or November. Panda bonds are yuan-denominated debt paper issued in China by foreign governments or firms.

The Monetary Board, the Bangko Sentral ng Pilipinas’ highest policymaking body, has already approved in principle the planned panda bond issuance, while the Philippine government was in the process of also securing approvals from the People’s Bank of China.

New roads, bridges boost property sector in HCM City and southern provinces

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New roads, bridges boost property sector in HCM City and southern provinces

ASEAN+ October 02, 2017 01:00

By VIET NAM NEWS
ASIA NEWS NETWORK
HO CHI MINH CITY

IMPROVED transport infrastructure has helped to increase real estate activity in Ho Chi Minh City and neighbouring southern provinces, including Long An, Dong Nai and Binh Duong.

Transport development has been one of the strong points of the property market this year, according to CBRE Vietnam.

In the past few years, several road projects have opened, including the Pham Van Dong Highway linking Tan Son Nhat Airport with National Highway No 1A, running through Binh Duong Province’s Di An District to Bien Hoa City in Dong Nai Province.

From 2000 to 2010, when the eight-lane Pham Van Dong Highway had yet to open, no real estate projects existed along the route.

But after 2010, a number of big projects, such as Dat Xanh, Him Lam Land and Thu Duc House, were built along the new highway in HCM City and Binh Duong Province.

Previously, real estate projects were built before infrastructure development occurred, but now transport infrastructure is a pre-condition for property projects.

Before 2007, few property projects were seen along Nguyen Van Linh Highway, which connects districts 2, 7, 8 and Binh Chanh with Long An Province.

However, the new 10-kilometre highway has triggered a construction boom of apartment buildings along the road.

The 10-km Vo Van Kiet Avenue which links the city’s District 1 with National Highway No 1A to Long An Province and the Mekong Delta has paved the way for a number of property projects, including Novaland, 577, Nam Long and Vietcomreal.

The new Vo Van Kiet Avenue has also spurred development of apartment buildings near the road after a couple of years of stagnancy.

The newly upgraded and enlarged Mai Chi Tho Street and Hanoi Highway, which connect HCM City with Dong Nai Province, have also jump-started a construction boom of apartment building projects in the area.

Figures from the HCM City Department of Transport show that over 50 property projects, with more than a total of 30,000 apartments, have been built along these two roads.

In addition, construction of the Metro Line No 1 in HCM City has helped promote the property market, despite financial challenges faced by the metro project.

Since 2007, when construction of the Metro Line No 1 began, at least 20 real estate projects with a total of 20,000 apartments have been built along the route.

Bui Xuan Cuong, director of the transport department, said the city would develop more roads and bridges in suburban areas as more residents move from the inner city to suburbs.

“It’s easy to see the rapid growth of property in areas where transport infrastructure has developed. This is a sign of equal growth of the city’s main property areas,” Cuong said.

Nguyen Thanh Phong, chairman of the city People’s Committee, said the city had given priority to investment in transport projects, and had given red-carpet invitations to potential investors.

The city has called for investments in 100 projects under the PPP (public-private-partnership) form, mainly investment in transport infrastructure, which also benefits neighbouring southern provinces.

Su Ngoc Khuong from Savills Vietnam said HCM City’s policy on transport projects has been on the right track, with shifts from inner to suburban districts.

More property projects when the Cat Lai Bridge opened, linking the city with Dong Nai Province’s Nhon Trach District, and after the HCM City–Long Thanh–Dau Giay–Phan Thiet Expressway was built in 2009.

When the property market in Banh Duong Province faced stagnant growth, the property market in Di An, a district bordering HCM City, showed signs of revival, with apartments in 10 property projects on sale since 2013.

Similarly, with the extension of Le Trong Tan and Truong Chinh streets, and National Highway No 22 linking western areas of HCM City with Duc Hoa District in Long An Province, the property market of Duc Hoa District expanded, with nearly 20 apartment building projects on sale since 2010.

The developers of these property projects told customers that it would take only half an hour to travel by motorbike from HCM City’s inner district to the apartments in Duc Hoa District, according to Khuong.

“The region’s transport infrastructure development has paved the way for the sustainable development of the real estate market in HCM City and neighbouring provinces,” Khuong said.