In light of a request by the Vietnamese head of state to Samsung Electronics, the world’s largest chipmaker, many in South Korea are asking whether it is a viable business move.

In a private meeting held in Seoul on Thursday, Vietnamese Prime Minister Nguyen Xuan Phuc asked Samsung Electronics Vice Chairman Lee Jae-yong to consider building a chip manufacturing facility there. The Korean tech giant already has production plants for mobile phones and other IT devices in the country.

Following the request, the premier said he would offer plenty of incentives, although Lee did not immediately make a commitment, according to officials. Instead, the de facto leader of Samsung promised to hire a total of 3,000 Vietnamese engineers for a Samsung R&D center currently under construction in Hanoi. The envisioned center is set to be completed in 2022.

The idea might sound like a winning strategy for both sides, considering the incentives, the lower cost of labor in the Southeast Asian country and its economic growth prospects. Yet chances are slim that Samsung will go for it, industry insiders say, citing the basic requirements of a semiconductor business.

“When chipmakers look for plant sites, they consider two factors — local talent and the market (with a pool of clients),” said an industry official.

Access to first-rate engineers is a must for a high-tech manufacturing facility, the official said, and low-cost labor is less appealing to chipmakers.

“More importantly, chip plants need to be located close to their target markets,” he said.

Samsung currently runs a system-on-chip factory in Austin, Texas, and a memory plant in Xian, China.

“Austin is home to top-level students studying engineering, and the US is also the biggest market for Samsung,” explained a Samsung official.

The reason that not only Samsung but also SK hynix — the second-biggest memory provider in the world — have their memory lines in China is because it a significant market with huge growth potential, another industry insider said.

“Samsung and SK hynix didn’t build the facilities in China because of low labor costs,” the insider said. “They were more aware of the market’s growth potential on one hand, and the diplomatic relations between Korea and China on the other.”

Economics experts too are skeptical about the possibility of Samsung breaking ground for a chip plant in Vietnam.

“Chip plants need very sophisticated and high-level engineers for operations,” said Joo Won, director of the economic research team at Hyundai Research Institute, noting the potential difference in talent pool in Vietnam. “Also, the market isn’t as big as China, although Vietnam is one of the leading economies among the ASEAN countries.”

Since 1995, Samsung has invested nearly $17 billion in the Southeast Asian country and employed around 130,000 local workers at its manufacturing facilities for TVs, smartphones, displays, batteries and other electronic parts.

As much as 58 percent of Samsung phones being sold worldwide are made in Vietnam, according to the prime minister.

Semiconductors are essential for the production of smartphones. But unlike the bulkier parts used to make vehicles or larger IT devices, transporting the tiny components is relatively easy, so it isn’t essential to have a chip plant nearby to reduce logistics costs. Vietnam has many production facilities for IT devices, mostly consumer products for which Samsung chips with high specifications are not necessary, said other experts.

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In his weekly article, Chan said there will be a cluster effect following the listing of tech giants.

Alibaba Group Holding Ltd. made a debut on the main board of Hong Kong Stock Exchange Tuesday in one of the world’s largest fund-raising this year.

Chan said the major opportunities will likely come from the Guangdong-Hong Kong-Macao Greater Bay Area as more and more tech startups are emerging and thriving in the area that aims to become an international center for technology and innovation.

Hong Kong can continue to play the role of an international financial hub to assist the development of those firms, Chan said, in particular citing Hong Kong’s highly-developed market of private equity funds.

It is fortunate that the impact from the nearly-half-year social unrest remains limited in Hong Kong’s financial sector, though the broader economy and people’s livelihood have been severely affected, Chan said

The Prime Minister said previously the ringgit was about RM3.80 to one US dollar.

“Now it is about RM4.20 to one US dollar and now everything that we want to buy has become expensive,” he said after opening the Muslim Welfare Organisation of Malaysia (Perkim) 58th annual general meeting here yesterday.

Dr Mahathir was asked to comment on the findings of the National Worry Index survey that saw bread-and-butter issues topping the list with 86% worried about the cost of basic needs and unaffordable homes, followed by the lack of job opportunities at 77%.

The index – released by think-tank Emir Research – also showed that respondents were generally unsure if the country’s future was on the right track.

To this, Dr Mahathir said those who were not confident with the way the government was implementing its promises could determine Pakatan Harapan’s fate in the 15th General Election.

“If they are unsure, they can vote during the 15th General Election.

“They can vote to determine Pakatan’s fate,” he said, adding that it would take a full five-year term for the government to implement all of its election promises.

Dr Mahathir said Pakatan did not get the full picture when it was drafting its election manifesto.

“When we took over, we found more problems left by the previous government that are more damaging than we had expected. This is why it will take some time to achieve our goals,” he said.

On a separate matter, the Prime Minister said the government was still studying amendments to

the Security Offences (Special Measures) Act (Sosma) 2012.

“We do not simply want to release terrorists who will make bombs and detonate them here and there.

“We cannot give these individuals bail,” he said.

Dr Mahathir added that those who were charged with sabotaging the economy despite there being no concrete support could be given bail and should not be detained for too long.

“At the moment, we want to reduce the detention period of 28 days,” he said.

On Nov 6, Home Minister Tan Sri Muhyiddin Yassin said the government planned to reduce the remand period to 14 days for those detained under the Act.

Read more at https://www.thestar.com.my/news/nation/2019/12/01/high-cost-of-living-due-to-weak-ringgit#TQ3oSRQch54QsbOY.99

The 26-year-old scored 9.680 to take the gold ahead of Brunei’s Hosea Zheng, who finished with 9.590.

Two-time former SEA Games champion Daniel Parantac settled for bronze for the Philippines with 9.560.

Read more at https://www.thestar.com.my/sport/others/2019/12/01/choon-how-strikes-first-gold-medal-for-m039sia-in-sea-games-2019#75xaoPUSqz1iejXO.99

The roar of anticipation began even before Team Philippines stepped into the limelight for the parade of nations. And it built into a crescendo as the country’s representatives to the 30th Southeast Asian Games (SEAG) finally took the floor in front of an appreciative crowd and a mildly dancing President Rodrigo Duterte.

If the opening ceremony on Saturday at Philippine Arena in Bulacan was meant to change the initial negative perception of the country’s hosting of the biennial meet, it certainly succeeded in doing so.

Celebrity apl.de.ap had audiences dancing and singing along, Manny Pacquiao lit the cauldron in what was a preshot sequence and the national athletes basked in the love of an adoring throng while snaking their way through centerstage.

“I declare open the Southeast Asian Games for the 30th time … mabuhay kayong lahat,” the President said amid cheers from tens of thousands of spectators who queued at the gates as early as 3:30 p.m. and filled the 55,000-seater venue to witness the ceremony.

“[W]e love our Southeast Asian brothers and sisters and through that love, we pray as one, we build as one, we work as one and we win as one,” said Speaker Alan Peter Cayetano, the chair of the Philippine Southeast Asian Games Organizing Committee, in his welcome speech.

“Now, more than ever, I’m so proud to be a Filipino,” added Rep. Bambol Tolentino, Philippine Olympic Committee president.

“The opening ceremony has gotten me so pumped for competition,” said jiujitsu star Meggie Ochoa, a gold medal favorite. “It’s all just very inspiring and motivating and I am very much looking forward to fighting my heart out for the flag.”

From foreign athletes flashing wide grins while capturing the spectacle unfolding before them to spectators clad in outfits splashed with the national colors, it was clear organizers won a lot of hearts.

Quest for gold

On Sunday, it’s time to win gold medals.

Triathlon gets first crack at glory immediately after dawn.

Defending champion Kim Mangrobang and Asian Games campaigner Kim Kilgroe take on the region’s best in the women’s division while Cebuano rookie Kim Remolino and two-time SEA Games silver medalist John “Rambo” Chicano take on their rivals in the men’s class as the country tries to duplicate the 1-2 sweeps of both divisions in the 2017 Games.

And then there’s the projected gold rush in dancesports, where Team Philippines hopes to waltz its way to a bulk of the 14 gold medals at stake.

“It’s hard to see how it would play out because we only see the practice; we need to see the actual performance,” said Lowell Tan, official of Dancesports Council of the Philippines, on Saturday. “But we Filipinos have that natural inclination to music, and that trumps techniques and skills.”

Ariana Dormitorio also aims for a golden finish on Sunday when the mountain bike cross-country event unfolds at 9 a.m. in Laurel, Batangas.

The Iloilo-born Dormitorio, 22, is looking to cap her year with a strong finish at home, even as she has her eyes on a spot in the Tokyo Olympics next year.

“My goal in the SEA Games is to win the gold, and I’m happy that somehow, I am regularly competing against those riders from Southeast Asia, so more or less, I am already very familiar with them,” Dormitorio said.

Not even a looming storm that’s cutting a path to Central Luzon has dampened the spirits of organizers, who are optimistic that weather won’t affect the Games too much. Some schedules, however, were moved around in anticipation of the rains.

“We needed to do this to make sure the events are completed before bad weather kicks in,” said Tom Carrasco, president of the Triathlon Association of the Philippines. Typhoon “Tisoy” (international name: Kammuri) has been forecast to hit the eastern part of Luzon in the next few days.

530 events, 56 sports

With 530 events to be held across 56 sports, the Philippines is hoping that home-court advantage will catapult it to the overall championship. Officials have set bold targets as far as gold medal haul is concerned, with predictions ranging from 180 to 220. The country won the overall title the last time it hosted the SEA Games in 2005, but its performance in the regional meet has spiraled since.

The day actually started on the back heel for the country as Duterte and the organizers apologized for the foul-ups that marred the country’s hosting of the regional Olympics early on.

The President vowed to do better in the coming days, adding he would look into any irregularity in connection with the preparations for the event.

His spokesperson, Salvador Panelo, reiterated the apology for the initial snafus and the planned probe in a statement on Saturday.

But Panelo said the initial mishaps were no reason for the Philippines to be disheartened and to not do its best.

“We are undaunted by the initial snafus in logistics which were unfortunately aggravated by the proliferation of fake news, as we commence with excitement — and hope for a historic milestone — in hosting the 30th SEA Games,” he said.

“At any rate, we wish to reiterate the country’s apology for whatever inconvenience the athletes went through, as well as this administration’s commitment to probe whatever irregularities there were, if any, in the preparation of the event,” Panelo added.

Controversial cauldron

Pacquiao, along with boxer Nesthy Petecio, lit the cauldron from faraway New Clark City in Tarlac in a prestaged shoot that also featured digital fireworks lighting up the world-class arena. The cauldron, a P55-million feature of the Games that raised questions in the Senate, didn’t figure that much in the opening rites.

The lighting, usually the highlight of opening ceremonies of such multievent sports spectacles like the Olympics and the Asian Games, lasted briefly. Images of more fireworks over NCC were flashed again at the end of the ceremony.

And while that part of the inaugurals will face scrutiny in the coming days, it didn’t seem to bother the crowd that waited for nearly four hours to watch a show that lasted around an hour and 45 minutes. Spectators were still giddy as they walked off the coliseum, carrying mental snapshots of Team Philippines strutting to a looped version of popular Hotdog song “Manila.”

Gates opened at 3:30 p.m., but the venue went on lockdown at 5 p.m. for the arrival of President Duterte.

“We’re really happy. I think it just shows the Filipino spirit is strong and well. Everybody is just here to support the country and all our athletes and that’s what counts,” Vince Dizon, president of the Bases Conversion and Development Authority, said on Saturday before the opening.

“We’re really excited for our country and for our athletes.”

Read more: https://sports.inquirer.net/375528/after-seag-spectacle-its-time-to-win-gold-medals-for-ph#ixzz66p5ZGHDN

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Lawmakers recently called for a review of the 40-per-cent stake of State Grid Corp of China in the National Grid Corp of the Philippines (NGCP), which won the bid in 2009 to run the power lines.

In a statement, the Armed Forces of the Philippines (AFP) said the matter was within the bounds of the NGCP and also with the National Power Corp.

“NGCP is privy to the contract, the provisions therein, and the necessary safeguards in place. Hence, they are in the best position to answer that at this time,” AFP spokesperson Brig-General Edgard Arevalo said in a statement.

But he also said they would remain involved in discussions with related agencies on the security concerns.

“That does not mean however that we will not be discussing the security aspect of the issue with concerned agencies. We will participate on matters relevant to our competency,” he said.

“We submit that Congress is well within its powers to conduct an inquiry if it so desires given its oversight and legislative functions,” he added.

Signing the bill into law severely meddles in Hong Kong affairs, severely interferes in China’s internal matters and seriously violates international laws and basic norms governing international relations, the ministry said in a statement released on its website.

The intention of the US side is very vicious by bolstering violent criminals who smashed facilities, attacked innocent residents, trampled on the rule of law and social order, the ministry said.

The ministry said that the fundamental purpose of the US side is to destroy Hong Kong’s prosperity and stability, undermine the great practice of “one country, two systems” and barricading the historical process of realizing the great rejuvenation of the Chinese nation.

The government of the Hong Kong Special Administrative Region (HKSAR) also  expressed strong opposition to and extreme regret at US President Donald Trump’s move to sign two HK-related bills into law.

In a press release, the HKSAR government said the two bills obviously interfered in Hong Kong’s internal affairs, and were neither necessary nor justified. The government said it would harm the relations and interests between Hong Kong and the US.

“The two bills are unreasonable,” a government spokesman was quoted as saying in the press release.

The HKSAR government hopes that the US government will adopt a pragmatic approach, taking into account what’s mutually beneficial.

According to Chinese media reports, he had been filming Chase Me – a night-time variety series by Zhejiang Television which focuses on physical tasks for its contestants.

He reportedly collapsed at around 2am on Wednesday morning (Nov 27) midway through filming. Other celebrities on set included Hong Kong actor William Chan and boy band Fahrenheit member Calvin Chen.

In photographs circulating on the Web, Chan can be seen with his hands in a prayer position. Paramedics could also be seen working on someone, who is obscured in the photographs.

Netizens who claimed to witness the incident said that Gao’s heart stopped beating for a few minutes before it resumed and that he was rushed to the hospital.

The 1.93m tall Gao first caught the public’s eye as a fashion model. He was the first Asian male model to appear in luxury brand’s Louis Vuitton ad campaign in 2011.

He has since been in Hollywood films like The Mortal Instruments: City of Bones (2013) and also became popular in China when he starred in Remembering Lichuan (2016), a television adaptation of a Chinese romance novel.

The Chinese internet giant, which is already listed in New York, saw stock gain around 6.25 percent to HK$187 as it started trading on the Hong Kong stock exchange.

Alibaba, which operates the Taobao and Tmall online retail platforms and an array of logistics to financial services, raised HK$101.2 billion by selling 575 million new shares to investors, the company said in a statement on Tuesday.

The retail portion was oversubscribed by 42 times, it said.

The surge followed a 1.96 percent rally in its New York-listed shares to $190.45 on Monday.

At the meeting, held on the sidelines of the ASEAN-ROK Commemorative Summit in Busan, Moon stressed the importance of South Korean-Thai relations and thanked the Thai prime minister for his support in advancing Korea’s relations with the Association of Southeast Asian Nations.

“Thailand is the most important partner in our government’s New Southern Policy. (I) hope for the cooperation between the two countries to expand into diverse areas such as defense and defense industry, water management, science and technology, infrastructure,” Moon said.

Citing Thailand’s high economic growth rate and the “Thailand 4.0” policy, which includes the Eastern Economic Corridor or EEC development plan, Moon also highlighted the Thai government’s development drive and the opportunity the country represents. The EEC plan is aimed at laying the foundation for greater investment and the development of advanced industries in Thailand.

“I hope to make this an opportunity for sharing ways to increase cooperation and to share vision through the two cooperation framework with other ASEAN leaders,” the Thai prime minister said, referring to the ASEAN-Korea and Mekong-Korea summits.

Thailand is co-chair of both summits.

The Thai leader went on to stress the importance of closer cooperation with Korea in achieving shared goals.

After the summit, the two sides also signed memorandums of understanding on science and technology, Thailand’s EEC and immigration policies.

With the science and technology memorandum, the two countries agreed to expand the scope of cooperation in related fields to include food technology and biotechnology, high-tech areas including satellites, and research on nuclear reactors.

Concerning the EEC, the two countries agreed to exchange information and establish a support system to guide Korean companies that wish to invest in the EEC project. The immigration memorandum calls for increased cooperation to prevent illegal immigration and employment.