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198TH INDEPENDENCE DAY OF

SEPTEMBER 16, 2008

What’s INSIDE Asean 4

NEWS 7

B Y FIDEL V. RAMOS

September 16-30, 2008

www.aseanbiztimes.com

ISSN No. 2012-2802

Volume 2 No. 7

US$1.00

Hurricane hits global markets

Former President of the Philippines

CROSS-TAIWAN STRAITS ECONOMIC ZONES: RP OPPORTUNITIES

CALENDAR OF TRADE FAIRS /EVENTS 8-9 • 1 st FilExpo Qatar 2008–Philippines • International Food & Hospitality Show (IFHS 2008) –Thailand • Asia Fashion Jewelry & Accessories Fair–Hong Kong

EXECUTIVE HEALTH CHECK

12

WHAT IS LIVER

CANCER? INFOTECH

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• Google challenges Microsoft with ‘Chrome’ • Canon raises the bar with its DIGIC 4 image processor

BIZLITES

14

The Manila Yacht Club’s newly elected Board of Directors Malaysian 51st National Day Celebrated

BIZSPORTS

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F1 Singapore

ON WALL Street yesterday, the Dow Jones industrial average fell to it’s lowest since the 9/11 terror attack or more than 500 points, or 4.4 percent, to 10,917.51— its worst point drop since after then. Asian stock markets tumbled yesterday as the collapse of Lehman Brothers and takeover of Merrill Lynch spurred fears of a global financial crisis. European markets, which fell sharply Monday, extended losses in early trading. The storied New York investment bank, crippled by $60 billion in soured real-estate holdings, was unable to find an investment partner to throw it a lifeline despite a flurry of lastminute negotiations over the weekend. Investors were further shaken up by equally stunning news that Merrill Lynch, one of the world’s most famous brokerages, sought to avoid a similar fate with a $50-billion transaction to become part of Bank of America Corp. The crisis appeared to be far from over. American Insurance Group, the world’s largest insurer, was fighting for its survival after downgrades from major credit rating firms, adding pressure as AIG seeks

billions of dollars to strengthen its balance sheet. US stock futures were down modestly, suggesting Wall Street could fall further Tuesday. Dow futures were down 38 points to 10,921. Japan’s benchmark Nikkei 225 index sank nearly 5 percent to 11,609.72—its lowest close since July 2005. Hong Kong’s

blue-chip Hang Seng Index shed 5.4 percent. Both markets—Asia’s two biggest— had been closed for holidays on Monday, when news first broke about the turmoil on Wall Street that has dramatically changed its landscape. Across Asia, markets were all deep in the red. South Korea’s main index declined

6.1 percent, while Taiwan’s benchmark was off 4.9 percent and China’s Shanghai index sank 4.6 percent. To ensure liquidity, Japan’s central bank yesterday injected 2.5 trillion yen, or $24 billion, into money markets and issued a statement vowing to take measures to maintain stability in the country’s financial markets.

Cabinet ministers, along with the central bank chief, were also holding an emergency meeting. “The Bank of Japan will carefully monitor recent situations surrounding the US financial institutions and their influences, and will continue to strive to ensure smooth settlement of funds and Turn to page 11

Laos ready for the South East Asian Games BY LIN PRAK LAOS says it is on track to host it’s first ever international sports event, next year’s South East Asian Games, thanks to international help. China, Japan, South Korea, Thailand, Singapore, Vietnam and the Olympic Council of Asia have come to Laos’s rescue to ensure the Games go ahead. Laos Olympic chief Somphou Phongsa says the impoverished nation is up to the task, with facilities 60 per cent ready. Although only a minor event on the sporting calendar, the SEA Games is taken as seriously as the Olympics by the 11 competing countries, most of which are historic foes. Some nations are unhappy the communist country was awarded the Games, and are furious that the number of sports was slashed from 43 to 25, with obscure disciplines like Muay Lao, pencak silat, wushu, petanque and kempo replacing traditional sports like gymnastics, archery, cycling and weightlifting. China has provided more than $100 million to construct a 20,000-seat stadium and is building two indoor stadiums, a tennis centre and the country’s first Olympic-sized swimming pool. Turn to page 11


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ASEAN BIZTIMES

September 16-30, 2008

FINALLY- T3! Mabuhay Extra SMILE NAIA Terminal 3 Successfully Conducts Start-Up Operations International Flights Underway

P

RESIDENT Gloria Macapagal Arroyo visited last month the newly opened Ninoy Aquino International Airport Terminal 3 (NAIA T3). This coincided with the initial commercial flights of Philippine Airlines’ PAL Express and Air Philippines from the facility. On the same week, Cebu Pacific had flown some of its domestic flights also from Terminal 3. While the Start-up Operations are involving domestic flights, it may be recalled that the President was the first to deplane, together with more than 300 commercial passengers, at Terminal 3 when her PAL Boeing 747-400 arrived at 2:50 a.m. from San Francisco, the last stop on her recent visit to the United States. “Finally - T3! The opening of this terminal would definitely change the impression of the world on the Philippines,” said General Manager Alfonso Cusi of the Manila International Airport Authority (MIAA). “We were only too pleased and more than ready to receive the President and show her again around the Terminal,” GM Cusi exclaimed. The President return inspected the facility again two days later after coming from Cebu. Her plane taxied towards NAIA T3 and was met by Department of Transportation and Communications Secretary Leandro Mendoza, NAIA T3 Task Force head Sec. Michael Defensor , MIAA General Manager Alfonso G. Cusi, PAL Chairman and CEO Lucio Tan, Cebu Pacific President and CEO Lance Gokongwei, PAL President Jimmy Bautista and other ranking government officials. “This airport is the gateway of our country to the rest of the world. It is our showcase for tourism and economic progress,” the President said. “Today’s commercial opening is a result of our resolve and determination to move this country forward. Welcome to NAIA 3!” the President beamed with a smile. Participating and lending their support in the three milestone events were honorable legislators, cabinet members, ambassadors, members of Joint Foreign Chambers of Commerce, practitioners from the tourism and travel industry and MIAA’s partners in the aviation industry. These include Sen. Richard Gordon, Chairman of the Senate Committee on Tourism, Rep. Monico Puentevella, Chairman of the House Committee on Transportation, Rep. Danilo Suarez, Chairman of the House Oversight Committee, Rep Teodoro L. Locsin, Jr., Rep. Rufus B. Rodriguez, Rep Martin Romualdez, Rep. Maria Zenaida R. Angping, Executive Secretary Eduardo R. Ermita, Finance Secretary Margarito B. Teves, Trade and Industry Secretary Peter B. Favila, Defense Secretary Gilbert Teodoro Jr., Presidential Management Staff Secretary Cerge Remonde, AFP Chief of Staff Alexander B. Yano, Philippine National Police Chief, Director General Avelino I. Razon Jr., Director General of the Civil Aviation Authority of the Philippines Ruben Ciron, Bureau of Customs Commissioner Napoleon Morales, Bureau of Immigration Commissioner Marcelino Libanan, DOTC Undersecretary Cecilio R. Penilla of the Office of Transportation Security and PNPAviation Security Group Chief Gen. Atilano Morada. “We are operating T3 to initially service domestic flights of Cebu Pacific, Philippine Airlines Express and Air Philippines. In the next

FROM TOP: MIAA/NAIA GM Alfonso G. Cusi; NAIA 3 Task Force Head Mike Defensor and MIAA GM Alfonso Cusi showing PGMA baggage handling facilities; MIAA GM Alfonso Cusi; AGM TG Serrano; Mr. Cusi and Cebu Pacific President and CEO Lance Gokongwei, with DOTC Sec. Leandro R. Mendoza; NAIA Service Ambassadors go with the extra SMILES.

few months, or maybe weeks, we are hopeful to service some international flights as well, GM Cusi revealed. “Perseverance and determination did it. We just had to find ways and explore strategies and operational solutions to be able to open the facility for the benefit not only of the airlines, the airline passengers but more essentially, the national interest as well, “ the airport chief further explained. GM Cusi also profusely thanked distinguished members of Congress and the Senate for their invaluable support in the Terminal

NAIA. We go the extra SMILE

opening efforts, notably, Sen. Gordon, Reps. Puentevella and Suarez. Likewise, Secretary Leandro Mendoza, remarked that, “I’m going to call it a new… well, a modern terminal, but certainly not very old. The last time I spoke about Terminal 3, I was telling the audience that since I was appointed Secretary of the DOTC in 2002, I have been ordered by the President to open this Terminal. Well, to borrow the favorite expression of Congressman Puentevella, its showtime!”. Last month, Cebu Pacific began operations at T3 with no less than Cebu Pacific President and Chief Operating Officer Lance Gokongwei helping preside over the momentous event. The airline operates 16 flights daily to 5 destinations, namely, Caticlan (Boracay), San Jose Mindoro, Naga, Laoag and Tuguegarao. For their part, Philippine Airlines’ PAL Express has also commenced operations in domestic routes like Caticlan (Boracay), Busuanga, Calbayog, San Jose, Surigao and Virac. It is set to operate 75 flights per week. Meanwhile, Air Philippines is now operational in Bacolod, Dumaguete, Iloilo, Naga, Puerto Princesa, Ozamis Occidental and Tuguegarao. It has 56 flights per week from Terminal 3. PAL Chairman Tan, PAL President Bautista and Air Philippines President Edilberto Medina led the PAL executives and ranking guests from the government sector in the blessing and simple opening ceremonies. MIAA Assistant General Manager for Airport Development and Corporate Affairs Tirso G. Serrano said “These initial operations at T3, which we call Start-up Operations will certainly be a big boost to our credibility and image as the premier gateway of the country and we remain committed to pursue an optimum airline accommodation mix vis a vis our managed terminals, namely, Terminal 1, Terminal 2, Manila Domestic Terminal, and now Terminal 3, over the short term and long term perspectives.” Serrano further added “with the perseverance of our airlines and enthusiastic cooperation of our government institutions involved in this milestone undertaking of opening a major infrastructure facility, under the inspiration of the national leadership, we are confident that we will be able to deliver a safe and operable airport facility in line with our tourism and trade thrusts for the benefit of the entire nation.” The project was conceived and expedited to address the congestion in Terminal 1, the first international passenger terminal, which was opened in 1982 with an original design capacity of 4.5 million passengers a year. This level was reached in 1991 and further improvements were done to increase its design capacity to 6 million passengers per year. In 1990, the MIAA Master Plan Study conducted by Aeroports de Paris included a construction of a much bigger and far modernized international passenger terminal to accommodate the increasing volume of passengers going in and out of the country. This became the obvious rationale for the construction of a new and modern passenger terminal. NAIA T3 has a total floor area of 240,000 square meters that can accommodate 13 million passengers annually. It has 20 contact stands and 8 remote gates.


September 16-30, 2008

ASEAN BIZTIMES

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ASEAN BIZTIMES

September 16-30, 2008

Asean

NEWS

ITU: Asia Pacific has two billion telephone subscribers

MALAYSIA

State telecoms firm to develop highspeed network TELEKOM Malaysia, the country’s dominant fixed-line provider, has been awarded an 11.31 billion ringgit ($3.3 billion) government contract to develop Malaysia’s highspeed broadband network. Telekom Malaysia said in a statement on Tuesday the government’s portion of funding was 2.4 billion ringgit over 10 years, with the company investing the remaining 8.91 billion ringgit. The state-controlled firm said it would enter into a formal agreement with the government following the acceptance of a letter of award from the government. “Further details and relevant information would be announced upon the execution of the HSBB Agreement between the government and Telekom Malaysia,” it said. Malaysia aims to increase broadband penetration to half of all homes by 2010, from 18 percent now. This compares with neighboring Singapore’s rate of 78 percent and Hong Kong’s 80 percent. As growth of its fixed-line business stagnates, Telekom

INDONESIA INDONESIAN State Minister for State Enterprises Sofyan Djalil said the government would complete its initial public offering (IPO) of state steel producer Krakatau Steel’s shares this year, reported local daily the Jakarta Post. “This year is the best timing because we can get best steel prices,” Sofyan was quoted by tempointeraktif.com as saying

Malaysia is looking to its broadband operations to drive future growth after its mobilephone assets were spun off in April. “This is a positive development for Telekom Malaysia,” a telecommunications sector analyst at Aseambankers Research said. “The company’s balance sheet is lightly geared, it can take on additional debt to service its working capital requirements and heavier capex program. I don’t think the project would have any impact on the company’s dividend policy,” he said. Telekom Malaysia has said it would pay out at least 700 million ringgit in dividends in the current financial year. Some analysts had suggested the broadband project could hurt Telekom Malaysia’s ability to pay out special dividends. Telekom Malaysia shares ended 2.8 percent higher at 3.68 ringgit before the announcement and during a day in which the market as a whole KLSE lost 1.23 percent.

THE Asia-Pacific is home to almost half the world’s fixed telephone subscribers and has 42 percent of the world’s Internet users, with China and India, the world’s two fastestgrowing countries leading the pack, the Telecommunication/ ICT Indicators 2008 Report said. “With 1.4 billion mobile cellular subscribers, it also has the largest mobile phone market share,” the International Telecommunication Union (ITU) said in the report released to coincide with the launching of Telecom ASIA 2008 in Kuala Lumpur. By mid-2008, China and India alone had over 600 million and 280 million mobile cellular subscribers respectively, representing close to a quarter of the world’s total. The report said average annual mobile growth over the last five years was close to 30

Krakatau Steel IPO to be completed this year in Surabaya. With high steel prices, Sofyan said the government expected big returns from the IPO. Initially, the government planned to sell some of its shares in Krakatau Steel to strategic investors. One of the biggest contenders was steel giant Accelor-Mittal. The planned strategic sale,

however, met strong opposition from the public as well as from politicians at the House of Representatives. “The government does not anymore discuss the sales of shares to strategic partner,” Sofyan said. Sofyan added that the government would sell a total of 40 percent of shares in two stages, 20 percent each.

Indonesia calls for service market opening INDONESIA has proposed the liberalization of professional and service sectors in Australia and New Zealand under the free trade agreement (FTA) between the two countries and Asean members. Gusmardi Bustami, Trade Ministry director general for international trade cooperation, said the government had asked the Australian and New Zealand governments to open up their service and professional sectors. “We demand liberalization of the service sector, including finance, banking and the professional sectors such as accountancy, nursery and construction,” he said over the weekend. The 10-member Asean

concluded the FTA with Australia and New Zealand on August 28 in Singapore, during an annual ASEAN economic ministers meeting. The Singapore agreement will provide the framework for more detailed discussions between the two countries and each ASEAN member state, with the official signing expected in December. Gusmardi said that the Indonesian, Australian and New Zealand governments would have more talks to further determine which particular fields in the two sectors “will be opened up for us.” The FTA, which has been negotiated since 2003, will open free access for trade in goods,

investment, financial services, telecommunications, electronics, commerce, movement of natural persons, intellectual property, competition policy and economic cooperation between the Asean region and the two countries, by next year. As part of the pact, Indonesia will have greater access to the workforce industry overseas, says Chatib Basri of University of Indonesia’s Institute for Economic and Social Research (LPEM-UI). “Labor costs in Australia and New Zealand are high,” he said. “Therefore, our nurses, accountants and architects, who have qualifications equal to those in Australia and New Zealand, will

percent, and with mobile penetration approaching 40 percent, almost two out of five inhabitants in the region enjoy the benefits of mobile telephony today. It also said that non-voice applications via mobile phones are increasing rapidly and now account for more than one quarter of the region’s main operators’ mobile revenues. Text messaging, or SMS, is the predominant non-voice, mobile application, the report said, citing Filipinos who sent a staggering 650 text messages per subscriber per month, the highest in the world. SMS has emerged as a significant alternative to computer-based e-mail in the region’s low and lower middleincome economies while other mobile data applications, such as cash transfers and online purchases, are creating new

business opportunities in poor countries. The area in which the region really stands out is the uptake of advanced Internet technologies, especially broadband Internet access, as Asia-Pacific is the world’s largest broadband market with a 39 percent share of the world’s total at the end of 2007. In terms of broadband access, Asia-Pacific has made remarkable progress in the past few years, with subscriber numbers growing almost fivefold in five years — from 27 million at the beginning of 2003 to 133 million at the start of 2008. South Korea leads the world in terms of the percentage of households with fixed broadband access, and no less than five economies in the top 10 are from Asia-Pacific. But the gap in available broadband speeds between rich and poor countries is as wide as broadband penetration, ITU said, citing Japan, South Korea and Hong Kong where the minimum advertised broadband speed is faster than the maximum broadband speed in Cambodia, Tonga, Laos and Bangladesh. The ITU report said that broadband uptake enables a range of socially desirable and valuable online services in areas such as government, education and health, which can help overcome many of the basic development challenges faced by poor countries.

INDIA

Thai Major Cineplex to open entertainment centres in India MAJOR Cineplex, Thailand’s largest cinema chain operator, said it expected to open entertainment centers with Indian joint venture partner PVR Ltd in the fourth quarter of this year. The venture will set up bowling alleys, karaoke centers, ice skating rinks and gaming zones, and its first overseas venture will be located in the Indian capital, New Dehli, Chief Executive Vicha Poolvaraluck told reporters. “We’ll open in India in the fourth quarter and we’ll use about 100 million rupees ($2.3 million) on that,” Vicha said. PVR will hold 51 percent of the venture, and the Thai firm will hold the remainder. The two firm formed the joint venture in February to set up entertainment zones at PVR’s cinemas in India. Vicha said he was also approached by other cinema operators in Asia about possible joint ventures but declined to give details. be more competitive there, once the FTA is implemented.” Chatib however admitted it would be very hard for the two nations to fully accept Indonesia’s proposal. “It is very common for a developed country not to liberalize its professional sector because of fear of being flooded by migrant workers.” In addition to the liberalization of service and professional sectors, Indonesia has also asked for zero tariffs on certain items.

“We’ve asked for total elimination of import duties on Indonesian goods, including food, footwear, textile and furniture, sooner than 2010,” said Gusmardi. Indonesian-made textile, apparel and footwear are at present subject to between 10 percent and 19 percent import duties in Australia and New Zealand, although duties on food and furniture are already “quite low”, Gusmardi added.

Detroit Electric starts partnership talks with Malaysia’s Proton THE Netherlands-based firm Detroit Electric said on Tuesday it has begun talks with Malaysia’s stateowned car manufacturer Proton to produce electric cars for the Southeast Asian market. “We are in preliminary talks with Proton. It started last month. We hope to conclude the talks by yearend,” Albert Lam, chairman and chief executive officer of Detroit Electric. Proton has said it is keen to develop electric cars, to reduce carbon emissions and avoid rising fuel costs. Lam also said Detroit Electric was keen to establish a plant in Malaysia to manufacture batteries for the electric cars, along with a research and development unit, at a total cost of about 30 million dollars. Detroit Electric was an icon of the United States auto industry in the early 1900s, producing the first electric cars. But it went bankrupt in 1939 and was revived by Lam and other shareholders in the Netherlands and the US last year. Lam said Detroit Electric hoped to collaborate with Proton to sell electric cars for the Southeast Asian market or to use Proton’s existing manufacturing platform to produce electric cars under the Detroit Electric brand. He said the company planned to roll out 30,000 electric cars by 2010, as he demonstrated their performance at a Proton test circuit in Shah Alam, west of the capital Kuala Lumpur. Detroit Electric fitted the battery into Proton’s Savvy and Pesona models and in a Lotus Elise sports car. Proton said on Tuesday it was “evaluating and studying the technology” but it was “too early to comment on the progress.” Proton was formed 25 years ago by former premier Mahathir Mohamad as part of an ambitious national industrialization plan, but its market share has slumped in recent years as it faced difficulties coping in a new deregulated market. The government has urged it to forge a partnership with a foreign automaker to give it the expertise and economies of scale that it needs to survive, but talks with Volkswagen and General Motors have collapsed.


ASEAN BIZTIMES

September 16-30, 2008

Asean secretariat enters into cooperation agreement with Guangdong Province, China THE Asean Secretariat and the Province of Guangdong of the People’s Republic of China entered into an agreement today to cooperate and implement activities in areas of mutual interest. The Memorandum of Cooperation was signed by Mr. Nicholas Tandi Dammen, Deputy Secretary-General of Asean and Mr. Wan Qingliang, Vice Governor of Guangdong Province at the Asean Secretariat in Jakarta. It was witnessed by Dr. Surin Pitsuwan, Secretary-General of Asean and Mr. Wang Yang, Party Secretary of the Communist Party of China, Guangdong Committee.

SINGAPORE Singapore state firm takes stake in Hong Kong exporter STATE-LINKED Singapore investment firm Temasek Holdings said Monday it had bought a stake in Hong Kongbased exporter Li & Fung Ltd. in a deal worth HK$3.9 billion ($500 million). Li & Fung issued a statement from Hong Kong on Sunday saying Temasek had made the investment through a whollyowned subsidiary. A Temasek spokesperson confirmed the deal. Under the deal, Temasek subscribed to 168 million new shares at 23.09 Kong Kong dollars each, the average closing price for the last five trading days to September 5, the Hong Kong consumer goods exporter said in its statement. Temasek’s share subscription represents 4.62 percent of Li & Fung’s enlarged share capital, the statement said. “We are very pleased to have Temasek as one of our strategic shareholders in view of its longterm approach to this investment,” said Li & Fung Ltd. group managing director William Fung. David Heng, managing director for investment at Temasek, was quoted in the statement as lauding the Hong Kong company’s potential. “With its robust business model and impressive leadership and management, we believe the company has excellent potential,” Heng said. Li & Fung said it will use the proceeds from the Temasek investment to fund further acquisitions. Temasek is one of two investment vehicles of the Singapore government alongside the Government of Singapore Investment Corp.

Under the Memorandum, the Asean Secretariat and the Guangdong Province will explore and facilitate cooperation activities in various areas including agriculture, information and communications technology, trade and investment, tourism promotion, energy and environment, education, and public health. “Opportunities abound for the Asean countries and the provinces of China to collaborate in various areas to expand Asean-China relations. Guangdong is the southern gateway of China and links between Guangdong and Asean have been growing. This

Memorandum will not only promote people-to-people ties, it will also further promote the development of the AseanChina Free Trade Area,” said Dr. Surin. Dr. Surin stressed that Asean attaches great importance to its relations with China and welcomes cooperation in various fields and at different levels, including furthering the friendly exchanges between the Chinese Provincial Governments and Asean Member States and the Asean Secretariat. The Asean Secretariat had signed a similar Memorandum with Hubei Province of China on 11 May 2008 in Wuhan City,

Hubei Province, China. The purpose was to explore cooperation possibilities with the Central and Western provinces of China which can offer opportunities to expand Asean-China relations. Dr. Surin has previously discussed the issue of promoting closer cooperation between the Asean countries and the Central and Western provinces of China, a new growth centre, with Mr. Yang Jiechi, Minister of Foreign Affairs of the People’s Republic of China, on many occasions. Both sides agreed that such a strategy of closer cooperation is an effective way forward in deepening and widening AseanChina relations.

Japanese firm to invest $1.5 JAPAN billion in Indonesia’s power plant SUMITOMO Corporation, a Japan-based diversified business giant, may spend up to $1.5 billion to build two additional generators at Tanjung Jati B coal-fired power plant in Jepara, Central Java, reported local newspaper the Jakarta Post. The daily quoted J Purwono, director general for electricity and energy usage at the Energy and Mineral Resources Ministry, as saying Friday that Sumitomo would build two generator units with a combined capacity of 1320 megawatts (MW) to augment the existing generators at the plant, which also push out a combined 1320 MW. “The construction is to start in early 2009. Three years later the new units will go on-line,” he said after a meeting with Sumitomo representatives, who were unavailable for comment. Purwono said Sumitomo had received approval from the State

PHILIPPINES

AUSTRALIAN company Nido Petroleum Ltd and local firm Kairiki Energy Ltd have started drilling activities in their service contract (SC) area in the offshore Northwest Palawan basin, which includes the first exploration well to be drilled in the area in over a decade. In a statement to the Australian Stock Exchange, Nido said that the joint venture began drilling the Yakal-1 exploration well covered by SC 54. The company said that the

Ministry for State Enterprises to employ the services of an independent power producer (IPP) and that it was awaiting final approval from the energy and mineral resources minister. Purwono said Sumitomo would seek financial support for the project mostly from the Japan Bank for International Cooperation (JBIC). “The total investment will be between $1.2 billion and $1.5 billion. The largest investment will come from JBIC. Sumitomo is still finalizing the financial scheme for this project. Local banks are invited to join if they are interested.” Purnomo said Sumitomo had promised to finalize the scheme by the end of the year. The purchase agreement between PT Central Java Power, a subsidiary of Sumitomo that is operating the power plant, and state power firm PT PLN, as the sole power distributor for

households and most businesses, will be signed next week. Under the agreement, PLN will buy electricity from Sumitomo’s power plant for 23 years. Purwono said PT Central Java Power had agreed to sell electricity from the plant to PLN at a price of 4.3 US cents per kilowatt per hour (kWh). “This is a competitive price,” he added. PLN vice president Rudiantara said the company was still discussing the terms and conditions of the agreement with Sumitomo. Currently, PLN buys electricity buys electricity from the plant at between 4 and 5 US cents per kWh — not including fuel prices, he said. The expansion of Tanjung Jati B power plant will support the government’s second 10,000 MW electricity program, which will commence in 2011.

Joint venture starts oil drilling Palawan Yakal-1 well “is expected to take approximately three weeks to drill and if justified, will be suspended pending extended well testing.” Yakal-1 is the first exploration well to be drilled in the Northwest Palawan basin, which is considered the most prospective area for petroleum exploration in the country in almost 10 years. Once it completes its program, the Nido-Kairiki joint venture will then move to a similar activity at the Tindalo-1 well, also covered by SC 54. “Yakal-1 is the first of many wells we intend to drill in the Palawan basin,” Jocot de Dios, Nido chief executive officer, said. The company earlier said that it had identified over 20 potential sites in SC 54 for possible drilling activities, including areas with prospective gas finds and areas

that previously flowed oil during testing conducted in the 1970s. The latest development from the Nido-Kairiki venture bodes well for the Philippines’ efforts to develop indigenous sources of energy in a bid to cut its dependence on imported fuel. Nido and Kairiki are among a number of foreign companies engaged in the local upstream oil industry following a Supreme Court decision in 2004 allowing foreign ownership in the mining and exploration business. An industry report released by energy consultancy firm Merritt Partners said that there are more than 10 foreign-listed companies engaged in oil and gas exploration in the country. They apart from 10 local companies, four multinational firms and a number of national oil companies in the local business.

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CAMBODIA

Cambodia plans $4b dams to boost irrigation, power generation

Phnom Penh dam under construction

CAMBODIAN Ministry of Water Resources and Meteorology has begun preliminary studies for the building of a series of dams across four provinces which will cost $4 billion, reported local newspaper the Phnom Penh Post. “We are planning to build more than 10 dams and related irrigation systems in four northwestern provinces to ensure rice production during both the rainy and dry seasons,” Veng Sakhon, secretary of state for the ministry, was quoted as telling the paper. The proposed dams would provide the country with a more modern irrigation system as well as generate electricity for rural communities, he said. However, other dam projects have come under fire for their impact on the environment and lack of transparency. The ministry aims to build four dams in Pursat province that would supply irrigation to more than 35,000 hectares of land and generate as much as 300 megawatts of power for local communities. Other proposed dam sites include locations in Battambang,

Kampong Chhnang and Banteay Meanchey provinces, and the ministry is consulting with engineers from China and South Korea, Veng Sakhon said. He added that the government must look outside the country for the money needed to complete the ambitious project. “We will need more than $4 billion,” he said, adding that the ministry is still in the preliminary stages of planning the massive projects. Chan Tong Yves, secretary of state for the Ministry of Agriculture, Forestry and Fisheries, said Cambodia must improve its irrigation systems to meet greater agricultural and export demands. “We have suffered drought in some areas, but nothing serious yet,” he said. Meas Sotheavy, head of the statistics office at the ministry’s Planning and Statistics Department, said only a relatively small portion of Cambodia’s rice fields is irrigated. “Now, only about 30 percent of rice paddies are connected to irrigation systems. We’d like to get that number to 40 percent by the end of this year,” she said.

VIETNAM

Coffee industry needs to invest $1.9bn VIETNAM’S Ministry of Agriculture and Rural Development estimated that around 32.8 trillion dong ($1.968 billion) will be needed to the enhance competitiveness of Vietnamese coffee on local and global markets to 2015, reported state news agency VNA. According to Deputy Minister of Agriculture and Rural Development Diep Kinh Tan, the sum will be invested mainly Vietnamese coffee in infrastructure, trade promotion, new farming techniques, and international standard production lines. The goal is to have 50-70 percent of Vietnamese coffee beans traded on international transaction floors and 10-15 percent to be consumed locally by the set year, said Tan. With a coffee-growing acreage of 450,000-500,000 ha giving a total yield of around 1 million tonnes, Vietnam has been exporting 850,000 tonnes of coffee beans to more than 70 countries and territories every year. The figure reached more than 1 million tonnes in 2007. In the first half of this year, the country earned more than US$1 billion from coffee exports. It is forecasted that the world demand for coffee will increase by 120,000 tonnes a year to 8.4 million tonnes by 2018.


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ASEAN BIZTIMES

September 16-30, 2008

EDITORIAL OPEC COMES TO SENSES

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INALLY, the Organization of the Petroleum Exporting Countries (Opec) softened and lowered prices of crude oil below the US$100 per barrel. After all, they have much windfall profits already. Opec member countries, with the exception of Indonesia which voluntarily suspended its membership as they have become more of a net importer rather than an exporter, have literally made a killing the past year. However, they now realized that with their selfish motives, they may eventually be a loser. People all over the world have started massive oil reduction and consumption programs. Likewise, there was a surging quest for alternatives fuels with the intention of minimizing and/or totally eliminating dependence on oil in the future. In fact, the dream is more for cleaner and greener alternative fuels. Last week in Vienna, Opec reaffirmed its selfimproved production quotas as world prices tumbled. Member countries agreed to reduce overall output by more than half a million barrels a day to avoid a new turmoil in the world market while waiting for prices to go up again. Well, it’s not heyday everyday. Conscience should seep in by now.

Real Integration in Soap Operas

HTH BY LUIS T. ARRIOLA

W LUIS T. ARRIOLA EDITOR-IN-CHIEF

BING SAMONTE LANIE CABARLES KLANG CASTILLO PERNING MACHICA

RAL ARRIOLA VICE PRESIDENT

JONATHAN ARRIOLA BENJAMIN GACUSAN FE JOSEPH HELEN ONG

ADMINISTRATIVE

MICHAEL HO CHINA BUREAU CHIEF

BUSINESS DEVELOPMENT

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HONG KONG BUREAU CHIEF

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VICKIE AYENG MARITESS JAMIN LAYOUT ARTISTS Suite 1506 Marbella 2, Roxas Boulevard, Malate, Manila, Philippines Tel. No. (632) 524-7495 • Fax No. (632) 522-2277 Email: biz_times_ph@yahoo.com www.aseanbiztimes.com ST. JUDE MEDIA ORGANIZATION, INC. PUBLISHER

“Two cultures, one love” and tales of “love-conquers - all”. I just hope the endings will be such that despite distance and cultural differences, the main cast lives happily-ever after. Afterall, marriage is integration first and formost.

HAT seems so long and almost an eternal wait for Asean market integration is happening already in drama and music. And what a blend! Tonight, the TV teledrama Kahit Isang Saglit (Even Just for a Moment) will start being shown on Philippines’ Channel 2 from Mondays to Fridays at primetime and on Malaysia’s Double Vision TV on Saturdays and Sundays. Its main cast are Jericho Rosales and Carmen Soo, Filipino and Malaysian matinee idols respectively. Completing the cast are equally talented Filipino and Malaysian actors and actresses. The scenes were shot both in Kuala Lumpur and Metro Manila. Prior to this, other TV drama “MULI” or “Again” run successfully for months in the Philippines and Malaysia. Another soap opera which was so famous in Malaysia, Cambodia, Indonesia, Thailand, Singapore and even in Kenya, China, Cameroon, Tangyan’s Namibia and Zambia was “Pangako Sa’Yo” (Promise to You). “Two cultures, one love” and tales of “love-conquers — all”. I just hope the endings will be such that despite distance and cultural differences, the main cast lives happily-ever after. For if our younger sets can love and marry one another, our Asean countries can. Afterall, marriage is integration first and foremost.

The Other Side of China We have just attended the 16th Guangzhou Fair in Guangzhou, China which has been conceptualized as a prelude to the famous and one of the world’s longest running fair — the CANTON FAIR which starts mid next month. This time the Philippine booth was taken by a friend who is introducing a new franchise for pizza in a cone called AMAZING CONES. On its first day, Amazing Cones staff lost 2 cellphones, one videocam and 2 wallets. On the 2nd day, pandemonium erupted as people fight for their orders of pizzas in cones and twirl ice creams. Also, many would be franchisees flocked. As the fair closed that day, the staff were surprised upon depositing their day’s sales to their hotel. Around 43 pieces of ¥100 yuan bills are fake. Apparently, 3 ladies kept coming to buy a thing or two and paid 100 bills. Hence, the shop lost the value of the products they sold and also the change of approximately 90 yuan per yuan bill paid. The next day, everybody was surprised that the machines for making ice-creams which were made in USA were almost bolted out of the booth and their motors inside were almost removed. The reason for this was maybe to copy the apparatus which makes good twirl ice creams which made locals crave for it.

People in Beijing where we were during the last Olympics were well behave. Probably, since this is the seat of central power and therefore people toe the line all the time. Shanghai which is promoted as the new financial center of Asia trying to replace Hong Kong is also quite safe. Probably because people have white collar jobs mostly and due to the presence of expat almost everywhere. But Guangdong which has a population of more than 100 million is home to many factories and lowerclass outlets is a bit different. The authorities are bit soft in the city probably due to the fact that they have more freedom here in the absence of too many foreign workers and tourists. Also, many migrants from far away provinces. Two years ago, I was also at the Guangzhou Fair which we have been promoting in cooperation with the city government of Guangzhou. Two old ladies from Binondo lost their bags. Fortunately, the thieves left these at the toilets with their passports and other document intact but without their cash anymore. The Guangzhou Chinese I know are one of the nicest Chinese friends. However, the overpopulation and its being a melting pot of different provinces make enforcement of law very hard. Also, I believe that too much freedom can never work. Hope This Helps: ltarriola@yahoo.com


ASEAN BIZTIMES

September 16-30, 2008

Cross-Taiwan Straits Economic Zones: RP opportunities BY FIDEL V. RAMOS Former President of the Philippines

(FIRST OF TWO PARTS) THE development of the Cross-Taiwan Straits Economic Zones – among the most significant happenings in East Asia – has been quietly taking place with scant attention from the Philippine public at-large, perhaps because this is not about politics (which, deplorably, is the Filipino favorite menu). On the other hand, its positive, irreversible direction is towards the ultimate establishment of a genuine East Asian community that will be peaceful, harmonious, caring, and sharing – with equitable benefits for all. Looking at East Asia’s eras of growth of the past three decades, the mutual dividends that could be enjoyed by its peoples, including of the Philippines, would be comparatively much more this time around. The warmingup of Mainland China and Taiwan relations starting last April with the election of a new Koumintang-led Administration on Taiwan, is the most dramatic event in our part of the world, considering Philippine economic and security interests. China’s leaders have expressed a greater level of comfort with new Taiwan President Ma Ying-jeou and Vice President Vincent Siew – who have long been advocating “economic cooperation first before politics” – than with their predecessors. The same is true for Taiwan’s elder statesmen, former Premier Lien Chan, now KMT Chairman Emeritus and Chairman Wu Po-hsiung, both warmly-welcomed visitors to the Mainland on cultural and family reunion missions. The West Taiwan Straits Economic Zone Last week (06-09 September), I keynoted the China-ASEAN Session of the 3rd Forum on the Development of the West Taiwan Straits Economic Zone (WTSEZ) organized by the Fujian Provincial Government. Since 2006, the development of the WTSEZ has been going on full blast, and has experienced a mega-boost with the election of a more friendly administration in Taiwan, known in Mainland terminology also as the East Coast of the Taiwan Straits. The diversity of the countries represented in the 3rd WTSEZ Forum, as well as its backto-back partner event – the 12th China International Fair for Investment and Trade (CIFIT) – attests to the increasing potential of WTSEZ as an economic opportunity to be exploited by Filipinos. Even Latin Americans, Eastern Europeans, and Pacific Islanders are active in both WTSEZ and CIFIT. Today, Cross-Taiwan Straits economic dynamism is centered in Fujian, particularly Xiamen City, its major air and sea gateway. In 2007, the Xiamen International Airport was the 9th busiest airport for cargo, 11th in passenger traffic, and the 13th in traffic movements in all of China. Xiamen is just 45 minutes by air from Taipei, and one hour and 45 minutes by daily direct flight from Manila. Furthermore, the Port of Xiamen with its natural deepwater, ice-free harbor

with a 65-kilometer coastline, is one of China’s ten largest. Fujian also has great potential in tidal energy, vast fish-farming spaces and a variety of aquatic resources, with its per capita aquatic products ranking first in China. Fujian (formerly known as Fukien) and Xiamen City (formerly Amoy) are wellknown to Filipinos, being the original home-communities of 85 prcent of the ancestors of present-day FilipinoChinese. Fujian Province is adjacent to Hongkong and Macau, and Guangdong Province, connecting the Yangtze River Delta to the north and the Pearl River Delta in the south. Backed by a vast hinterland, Fujian covers a total area of 121,400 square kilometers (40 percent the Philippines’ size). Under its jurisdiction are 9 major cities (notably Fuzhou, the capital, Xiamen, Quanzhou, and Jinjiang) and a resident population of 36 million in 2007. Eighty percent of Taiwan’s people (called “compatriots” by Mainlanders) are originally from Fujian. In addition to geographical proximity, Fujian and Taiwan share close ties of kinship, culture, business partnership, and historical administration. Fujian-Taiwan cooperation Towards Taiwan, Fujian leaders are making every effort to bring about closer economic ties, cooperation in agriculture and tourism, cultural exchange, and improved transportation and communication linkages. By end-2007, Fujian had put into use a total investment of USD13 billion from Taiwan, of which USD1.5 billion went to agriculture, topping all other provinces in China, while their bilateral trade stood at USD 53 billion. There are now 4 Taiwan Investment Zones in Fujian, namely: Xinglin, Haicang and Jimei in Xiamen, and Mawei in Fuzhou. In addition, the Experimental Area for Cross-Straits Agricultural Cooperation; Experimental Area for Cross-Straits Cooperation in Modern Forestry; Taiwan Farmers’ Park; Distribution Center for Taiwan Fruits; and Distribution Center for Taiwan Aquatic Products have been established in Fujian. The Ports of Fuzhou and Xiamen have been designated for direct access of container ships to Taiwan’s Gaoxiong Port, while Xiamen is among the airports declared open for Cross-Straits weekend chartered flights to and from Taipei. Tourism exchange between Fujian and Taiwan, due to their common cultures (Southern Fujian, Hakka, Mazu ethnic groups), is increasing. Fujian is among the first in China that opened trade relations with the world. In the early 15th century, or 100 years before the advent of famous European navigators of the likes of Vasco da Gama and Ferdinand Magellan, Fuzhou City was the anchor for the fleet of Zheng He, China’s famous Admiral, during his historic seven voyages to the Western Seas along China’s “Marine Silk Route.” As a pioneer in China’s world trade – with “special policies and flexible measures” granted by the Central Government – Fujian’s export volume ranked 6th among all provinces, and has established ties with more than 200 countries and international entities. Long-term strategy for WTSEZ Fujian is also one of the key provinces where old Revolutionary bases were located. It was in Gutian, Shanghang County that the historic “Gutian Meeting,” a milestone in the build-up of the Communist Party of China and the People’s Liberation Army, was

held. In the difficult struggles of the 1930s and 1940s, over 100,000 people from Fujian joined the Red Army, of whom some 30,000 participated in the fabled Long March, thus making a great contribution to the birth of the new China. For this reason, Fujian has the distinction of being the only province in China whose nine major cities have all been cited as “National Model City of Mutual Support.” The vision of an Economic Zone on the West Coast of the Taiwan Straits is the result of the collective wisdom and years of best practices. Embodying the concepts of scientific, harmonious, and peaceful development, the Central Government’s strategy to serve the twin aims of national development and peaceful national reunification with Taiwan stems from China’s “11th Five-Year Plan for National Economic and Social Development” adopted by the 17th CPC National Congress in October, 2007. Such affirmation by Beijing thus has provided a powerful driving force that has put together over 50 ministries and enterprises under the Central Government that offer substantial support to WTSEZ. Fujian’s neighboring provinces – Guangdong, Zhenjiang, and Jiangxi – have formed subregional economic networks; while compatriots in Taiwan, Hongkong and Macau, including overseas Chinese of Fujian origin, have joined in the expansion of this new cluster. Taiwanese businessmen have launched a new round of investments in Fujian, with over 40 major companies from among the top 100 Taiwanese corporations, are now operating in Fujian, according to CIFIT organizers. Relevance and challenge to the Philippines The relevance of such show of intensified market confidence in the Cross-Taiwan Straits Economic Zones may not be obvious to most, but the still expanding growth polygon consisting of Hongkong, Macau, and the Pearl-Yangtze River Delta regions could be powered further by more Taiwan investment, trade and tourism, due to the direct links now being put in place. Such tremendous potential should not be missed by Philippine authorities and business leaders, given that our country is the most proximate and strategically positioned among ASEAN countries, in terms of our available air-sea transport and human resources to service such a huge market combination. The two-way flow of capital, technology, goods, services, and people to and from the Philippines – as a nearby logistics base and supply chain source – constitutes a unique opportunity to be seized by Filipino capitalists and entrepreneurs, and clearly justifies our earlier initiatives to set up the Batangas International Seaport, enhance the Subic-Clark-Tarlac-PangasinanLa Union expressway, and reclaim land along the Manila Bay-Cavite shoreline, in accordance with environmentally-accepted standards. With the above-cited developments, the actualization of East Asian integration is coming within reach, even as ASEAN and its sub-regional BIMP-EAGA cluster continue to be valid models for Northeast Asian strategic planners. (Revisit our earlier column entitled: “East Asian Integration: Breakthrough at Boao,” 20 April 2008, re the emerging “Central East Asia” growth polygon in which the Philippines can be a key player – if the Arroyo Administration can exercise consistent political will).

7

Failed Promises BY JIMMY TEO Singapore

RECENT events cause me to write this article about failed promises. I am saddened by people (especially those close to us) who failed to keep their promise. Money is often the crux of failed promises. Many borrowed money from relatives, friends & do not return them back when they have the means. They prefer to spend on their own luxuries or travels rather to fulfill their promises. They possibly took for granted that everyone must help them & that they deserve charity at all times. In short, they are parasites. Her e is a touching story that should awaken some conscience: “There was a blind girl who hated herself because she was blind. She hated everyone, except her loving boyfriend. He was always there for her. She told her boyfriend, ‘If I could only see the world, I will marry you.’ One day, someone donated a pair of eyes to her. When the bandages came off, she was able to see everything, including her boyfriend. He asked her, ‘Now that you can see the world, will you marry me?’ The girl looked at her boyfriend and saw that he was blind. The sight of his closed eyelids shocked her. She hadn’t expected that. The thought of looking at them the rest of her life led her to refuse to marry him. Her boyfriend left in tears and days later wrote a note to her saying: ‘Take good care of your eyes, my dear; for before they were yours, they were mine.’” Whoever helps us are also humans. They are not angels. They have feelings & they can think. We must warm their hearts with our thanks, and fulfill our promises in greater dimension. Because they dare to help us, we must dare to return back what we promise. We must also dare to help others within our capacity. !"

AS HUMANS WE MUST KEEP OUR PROMISES, OR BE CURSED BY CONTINUAL DISASTERS.


8

September

ASEAN BIZTIMES

Calendar of Tra PHILIPPINES 18-20 SEPTEMBER 2008 Health Beauty Fitness & Lifestyle Asia - 2008 Health, Beauty, Fitness & Lifestyle Asia - 2008 will give an insight into the wide area of cosmetics, hair care preparations, wellness, suntanning industry, medicine in the service of beauty, and other fields that contribute to a healthy lifestyle and a wellcared-for body. Venue: World Trade Center Metro Manila, Pasay, Philippines. 19-21 SEPTEMBER 2008 FILIPINO FRANCHISE SHOW FILIPINO FRANCHISE SHOW is the Biggest franchise event in the Philippines. The event will feature regional and international franchisors from all sectors. FILIPINO FRANCHISE SHOW will be held at SMX Convention Center from 19 to 21 Sep 2008. Marketing & selling persons, advisors, franchisee & business opportunity companies will be targeting franchisor, service provider, marketing & selling persons, franchisee & business opportunity companies. Venue: SMX Convention Center, Pasay, Philippines. 24-27 SEPTEMBER 2008 Hardware Philippines Hardware Philippines is a newly launched specialized event to be held as part of METAL PHILIPPINES, an event that has gained increasing importance as a business platform for the complete line of production automation technology in the Philippines for the last ten years. Venue: World Trade Center Metro Manila (WTCMM), Manila, Metropolitan Manila, Philippines. 24-27 SEPTEMBER 2008 Aviation Maritime & Defense Exhibition (AMD 2008) Aviation, Maritime & Defense Exhibition (AMD 2008) is the pioneering international trade show on air, land (road and rail) and sea technologies covering the commercial, industrial, leisure and defense sectors. AMD remains to be the only show of its kind in the Philippines. Venue: Philippine Trade Training Center, Manila, Metropolitan Manila, Philippines. 24-27 SEPTEMBER 2008 Woodmach Philippines Woodmach Philippines, International Wood, Woodworking & Furniture-Making Machinery, Furnishings & Furniture Accessories Exhibition. Venue: World Trade Centre Metro Manila, Manila, Metropolitan Manila, Philippines.

SINGAPORE 17-19 SEPTEMBER 2008 Hospimedica Asia Hospimedica Asia, International fair for Medical Technology, Rehabilitation and Healthcare. Hospimedica Asia continues its accompanying programs of the past years’ fairs MEFA and REHAPROTEX. Profile for exhibit include diagnostic and therapeutic apparatus and equipment, laboratory instruments, pharmaceutics, stomatology, building health facilities, rehabilitation and health aids for walking, orthopaedic and compensation aids, furniture, aids and devices for people with internal diseases, rehabilitation, recondition and healthy life style, consultations, financing, insurance companies, institutions and information in health service. Venue: Suntec Singapore International Convention & Exhibition Centre 17-19 SEPTEMBER 2008 OS+H Exhibition OS+H Exhibition is the place to be to make the deals and forge new and existing relationships with key buyers from the industry. This conference and exhibition will bring together stakeholders from governments and regulatory agencies, national and public oil and gas companies, academia, service and supply companies, medical and occupational institutions, and others to focus on the HSE needs and requirements both globally and regionally of the upstream industry. Venue: Singapore Expo, Singapore.

THAILAND 17-20 SEPTEMBER 2008 Food & Hotel Thailand Food & Hotel Thailand remains the number one event in Asia for the hospitality industry’s premium market supply of international food, beverage, equipment and technology. Food & Hotel Thailand will be held at Royal Paragon Hall from 17 to 20 Sep 2008. In 2007 it attracted a total of 19,369 trade visitors from 56 countries. Venue: Royal Paragon Hall, Bangkok, Krung Thep, Thailand. 17-20 SEPTEMBER 2008 Retail Thailand Retail Thailand now enters its second successive year after its highly successful relaunch alongside IFHS (The International Food & Hospitality Show). Retail is a fast growing sector where innovative & change are key elements of its rapid growth & competitive & Technological developments in Thailand have created the strong demand for Retail Thailand as it emerges as the business platform for local & International companies. Venue: Queen Sirikit National Convention Center, Bangkok, Krung Thep, Thailand. 17-20 SEPTEMBER 2008 International Food & Hospitality Show (IFHS 2008)

International Food & Hospitality Show (IFHS 2008), International Hotel, Catering, Bakery, Food, Beverage & Retail Supplies Exhibition. IFHS has experienced the highest level of trade visitors of any hospitality event and is the only trade show in Thailand to be awarded the international UFI certification for trade show excellence. Venue: Queen Sirikit National Convention Center, Bangkok, Krung Thep, Thailand. 24-26 SEPTEMBER 2008 Food Ingredients Asia Food Ingredients Asia provides a showcase for a wide variety of food ingredients products and services. It will provide a highly professional exhibition & seminars forum for regional, local and international companies in the Asian food market. Venue: Queen Sirikit National Convention Center, Bangkok, Krung Thep, Thailand. 25-28 SEPTEMBER 2008 Sign Asia Expo Sign Asia Expo is the central platform for sign and outdoor advertising industry in South-East Asia. The event will offer network opportunity between the industrial manufacturers / suppliers and the purchasers. Furthermore, Sign Asia Expo will display the new tools and technologies in the related industries. Venue: IMPACT Exhibition & Convention Center, Bangkok, Krung Thep, Thailand. 25-28 SEPTEMBER 2008 Media Asia Expo Media Asia Expo is an Exhibition of Adverting Media with the unique theme of ‘New Media, New Concept & New Location’. Moreover MEDIA ASIA will display exclusive Innovative Media, First launched Product, ranging from Multimedia, Media technology, Interactive Media, Outdoor Advertising as well as New adverting platforms. Venue: IMPACT Exhibition & Convention Center, Bangkok, Krung Thep, Thailand. 25-28 SEPTEMBER 2008 Building Maintenance & Asset Management Expo Asia (BMAM Expo Asia) Building Maintenance & Asset Management Expo Asia (BMAM Expo Asia) is the international exhibition and conference dedicated exclusively on building maintenance and asset management industry in Asia. It provides you with a personal way to do business and meeting with so many targeted buyers in one place at one time. Venue: IMPACT Exhibition & Convention Center, Bangkok, Krung Thep, Thailand. 30 SEPTEMBER-03 OCTOBER 2008 AQUATECH ASIA Aquatech Asia - one new exhibition of the Amsterdam Rai. With the advancement of civilization, specialists are aware that more and more efforts are needed to supply the necessary quantities of fresh water and to ensure the purity of water. Venue: Bangkok International Trade & Exhibition CentreBITEC, Bangkok, Krung Thep, Thailand.

HONG KONG 15-18 SEPTEMBER 2008 Asia Fashion Jewelry & Accessories Fair Asia’s Fashion Jewellery & Accessories Fair (AFJ) the only international trade event dedicated to fashion jewellery and accessories industry in Asia, which is a major manufacturing base of costume jewellery, as well as from Europe and the Americas, fashion capitals of the world to exhibit here. Venue: AsiaWorld-Expo, Hong Kong, China (Hong Kong S.A.R.).

TAIWAN 18-22 SEPTEMBER 2008 Taipei International Plastics & Rubber Industry Show (Taipei Plas) Taipei International Plastics & Rubber Industry Show (Taipei Plas) opens the big picture on every facet of the industry. Taiwan’s top ranking as the world’s largest 3C production base spells unquenchable demand for plastic & rubber processing machinery. Its pioneering new range of CNC extruders churns out aluminum foil food packaging and every imaginable type of food container. Venue: Taipei World Trade Center, Taipei, Taiwan. 25-28 SEPTEMBER 2008 Taipei Invention Show & Technomart Taipei International Invention Show & Technomart is an exhibition related to the business services sector which includes High Technology, Fiber Optics, Machinery, Construction, Safety Equipment, Environmental Protection, Pharmaceuticals and Healthcare, Transport and Communications, Household Electronic Appliances, Hardware, Agriculture, Food, Textiles, etc. Venue: Taipei World Trade Center, Taipei, Taiwan.

VIETNAM 16-19 SEPTEMBER 2008 Linkage Vietnam Linkage Vietnam is an International Exhibition on Industrial Automation, Manufacturing, Process Control and Measurement Equipment & Technology. Fair is the premier industry event focusing on advanced automation products, integrated control and information architecture, valued-add services and solutions. Venue: Ho Chi Minh City International Exhibition & Convention Center, Ho Chi Minh City, Ho Chi Minh, Vietnam. 16-19 SEPTEMBER 2008 Vietnam ICT in Finance Vietnam ICT in Finance will continue to provide attendees with a compelling agenda filled with practical, user-focused

sessions as well as insights into emerging trends, technologies, products and solutions. Venue: Melia Hanoi Hotel & Convention Center, Hanoi, Vietnam. 17-19 SEPTEMBER 2008 Securitex & Fire Vietnam Securitex & Fire Vietnam is an established show that showcases latest products, technology and integrated system solutions in the field of Fire-Safety and Prevention. Venue: Ho Chi Minh City International Exhibition & Convention Center, Ho Chi Minh City, Ho Chi Minh, Vietnam. 17-19 SEPTEMBER 2008 Elenex Vietnam Elenex Vietnam is the International Electrical Installation, Transmission & Distribution and Lighting Technologies, Supplies & Services Exhibition. Venue: Ho Chi Minh City International Exhibition & Convention Center, Ho Chi Minh City, Ho Chi Minh, Vietnam. 17-19 SEPTEMBER 2008 Building M&E Vietnam Building M&E Vietnam is the International Building Management, Mechanical and Electrical, Maintenance and Engineering Technologies, Supplies & Services Exhibition & Conference. Venue: Ho Chi Minh City International Exhibition & Convention Center, Ho Chi Minh City, Ho Chi Minh, Vietnam. 17-19 SEPTEMBER 2008 Industrial Automation Vietnam Industrial Automation Vietnam is an International Exhibition on Industrial Automation, Manufacturing Process, Control & Measurement Equipment & Technology. Venue: Ho Chi Minh City International Exhibition & Convention Center, Ho Chi Minh City, Ho Chi Minh, Vietnam. 24-26 SEPTEMBER 2008 International Shoe & Leather Exhibition-Vietnam International Shoe & Leather Exhibition-Vietnam is the largest footwear show in Vietnam and features approximately 600 fashion footwear brands exhibiting in open booths, international pavilions. Venue: Ho Chi Minh City International Exhibition & Convention Center, Ho Chi Minh City, Ho Chi Minh, Vietnam. 24-26 SEPTEMBER 2008 Shoe & Leather Vietnam Shoe & Leather Vietnam is the largest footwear show in Vietnam and features approximately 600 fashion footwear brands exhibiting in open booths, international pavilions. Venue: Ho Chi Minh City International Exhibition & Convention Center, Ho Chi Minh City, Ho Chi Minh, Vietnam.

AUSTRALIA 16 SEPTEMBER 2008 Building Services & Maintenance Expo Building Services & Maintenance Expo is the inaugural exhibition for building and property services and facility maintenance industries and the ONLY event in Australia for total facility management. Venue: Melbourne Exhibition & Convention Centre, Melbourne, Victoria, Australia 16 SEPTEMBER 2008 Preview Preview is where collections of designers from all around Australia and overseas sell their ranges. It will be a wonderful networking opportunity and a terrific forum for upmarket designers to come together and be in the one place. From its inception, preview has been synonymous with design excellence and innovation, and is now fast winning recognition at home and abroad. Venue: Melbourne Exhibition & Convention Centre, Melbourne, Victoria, Australia 16 SEPTEMBER 2008 Australian Shoe Fair The Australian Shoe Fair is Australia’s newest independent trade fair for the footwear industry. The Australian Shoe Fair has been developed as a result of demand from suppliers and industry stakeholders for a high quality, industry operated and truly independent footwear fair for the Australian market. Venue: Melbourne Exhibition & Convention Centre, Melbourne, Victoria, Australia 18-21 SEPTEMBER 2008 The Australian Antique & Art Dealers Association Antiques & Fine Arts Fair 2008 The 2008 Australian Antique & Art Dealers Association Antiques & Fine Arts Fair is one of the premier art showcases around the world for up-and-coming artists, priding itself on enabling younger, smaller galleries to take part. Venue: Wharf 8, Corner of Sussex Street/Hickson Road, Sydney, New South Wales, Australia

Established in 1994 it has grown to become one of the largest food industry exhibition in Australia. Venue: Melbourne Exhibition Centre, Sydney, New South Wales, Australia 22-25 SEPTEMBER 2008 Fine Wine & Spirits Fine Wine & Spirits Exhibition is Australia’s only truly international wine, beer & spirits exhibition. Staged alongside Australia’s largest food and hospitality event Fine Food Australia. Fine Wine & Spirits exhibition attracts a larger trade audience than any other event of its type in the Australian market. Venue: Sydney Convention & Exhibition Centre, Sydney, New South Wales, Australia Click for detail 22-25 SEPTEMBER 2008 Hotel Australia Hotel Australia is the definitive event for the restaurant, hotel and motel industry. It features over 200 exhibitors with the latest foodservice and hospitality ideas. Hotel Australia the motel, hotel and restaurant equipment exhibition, runs along side Fine Food Australia as well as Fine Wine & Spirits with over 750 exhibitors, making it one of the country’s best meeting places to find new products. Venue: Melbourne Exhibition & Convention Centre, Melbourne, Victoria, Australia 24-26 SEPTEMBER 2008 Powerex 2008 Powerex 2008 is an event for all processing engineers, production engineers, plant managers and material handling professionals from industries which process, handle, package, transport, test and store dry particulates and bulk solids Venue: Newcastle Entertainment Centre, Sydney, New South Wales, Australia 30 SEPTEMBER - 02 OCTOBER 2008 Manufacturing Technology Infocus Manufacturing Technology Infocus is the focal point where industry and technology converge to a single event combining Australia’s leading hi-tech manufacturing exhibitions - Automate, Austronics and Electrix. Venue: Sydney Convention & Exhibition Centre, Sydney, New South Wales, Australia Click for detail

JAPAN 23-27 SEPTEMBER 2008 APLAR APLAR showcases the rapidly progressing scenario of the pharmaceutical industry. International companies will provide the global overview of this sector with new innovations and research techniques that are already on or in the anvil. Venue: Pacifico Yokohama, Yokohama, Kanagawa, Japan 24-26 SEPTEMBER 2008 Biofach Japan BioFach Japan offers an excellent opportunity to be present in this major market for organic products. Regular, personal meetings between suppliers and customers are the key for business success in Japan. BioFach Japan is the right business platform to deepen existing ties and meet new customers. Venue: Tokyo Big Sight, Tokyo, Japan 24-26 SEPTEMBER 2008 Home Care & Rehabilitation Exhibition (HCR 2008) Home Care & Rehabilitation Exhibition (HCR 2008) will showcase the latest rehabilitation products and services. It is an event directed to end users and specialist professionals that’s seek of solution and equipments for accessibility of disable people. Venue: Tokyo International Exhibition Center (Tokyo Big Sight), Tokyo, Japan Click for detail 24-26 SEPTEMBER 2008 Osaka International Gift Show Osaka International Gift Show is one of the premier and largest personal gift and decorative accessory trade fairs in est of Japan. OIGS was established in 1989 and is held semi-annually, each spring and autumn at the heart of Osaka city, MY DOME OSAKA. Osaka International Gift Show provides manufacturers & suppliers of giftware with an opportunity to establish profitable and effective distribution arrangements for the giftware market all over the world. Venue: MyDome Osaka, Osaka, Japan

NEW ZEALAND

20-23 SEPTEMBER 2008 Reed Gift Fairs - Sydney Reed Gift Fairs are the only exhibition specialists showcasing gift homeware and related products six times a year. It provide all of your buying and sourcing needs with the greatest number of exhibitors in premier venues in premier locations. Venue: Sydney Convention & Exhibition Centre, Sydney, New South Wales, Australia

18-21 SEPTEMBER 2008 Craft & Quilt Fair-New Zealand Craft & Quilt Fair-New Zealand is the perfect opportunity for the knitting, needle and creative craft enthusiast to meet manufacturers, dealers, publishers, mail order specialists and designers covering hand and machine knitting, cross stitch, tapestry, patchwork, quilting, sewing, embroidery as well as other needle crafts and various creative crafts. Venue: Waikato Events Centre, Hamilton, New Zealand.

22-25 SEPTEMBER 2008 Fine Food Australia Fine Food is a trade exhibition designed to bring together the buyers and sellers of food, drink and equipment together.

26-27 SEPTEMBER 2008 The 50+ Lifestyle Expo-Tauranga The 50+ Lifestyle Expo-Tauranga brings together the latest Products and Services for the Senior market. The expo has


16-30, 2008

ASEAN BIZTIMES

9

ade Fairs/Events everything under one roof for the Younger Senior and the Older Senior, this expo is designed to stimulate the imagination, and celebrate the successes of the 50+ age group and lifestyle event tailored specifically to cater for the needs and wants of New Zealand Seniors and Baby Boomers. Venue: TBA, Tauranga, New Zealand.

MEXICO 23-25 SEPTEMBER 2008 AHR Expo Mexico AHR Expo Mexico is the HVAC&R Industry Show - the world’s largest HVAC&R trade show event for professionals to buy, sell, network and learn. AHR Expo is the premier launching pad for new product introductions, partnerships being formed and companies getting their start doing business in the industry. Venue: Cintermex Expo Center, Monterrey, Nuevo Leon, Mexico.

KAZAKHSTAN 16-18 SEPTEMBER 2008 WaterTech 2008 WaterTech 2008 is the 1st Central Asian International Water Technology Exhibition and Conference. WaterTech will be held at Atakent International Exhibition Centre from 16 to 18 Sep 2008. Advanced Irrigation Systems, Desalination, Water Management & Flow Control, Water Quality & Water Treatment will attract the Agronomists, Bankers, Professional Consultants, Distributors, Farm Owners, Government Representatives. Venue: Atakent International Exhibition Centre, Almaty, Almaty [City], Kazakhstan. 16-18 SEPTEMBER 2008 Water Tech Central Asia 2008 Water Tech Central Asia 2008, the Central Asian International Water Technology Exhibition & Conference will take place in Almaty, Kazakhstan from September 2008. An international conference will also take place within the framework of the exhibition. Venue: TBA, Almaty, Almaty [City], Kazakhstan. 17-19 SEPTEMBER 2008 EcoTech 2008 The main specialized exhibition (EcoTech 2008) in the Central Asia Region to attract international and major local companies engaged in collection, transportation and utilization of waste, treatment of municipal and special industrial waste, recycling, water and wastewater treatment, gas treatment and soil purification, control analytical systems and environmental services. Venue: Atakent International Exhibition Centre, Almaty, Almaty [City], Kazakhstan. 17-19 SEPTEMBER 2008 MiningWorld Central Asia MiningWorld Central Asia is a unique concept specifically

designed to bring suppliers of mining equipment and machinery, products and services from all areas of the world in direct contact with mining exploration, mining processing of minerals and metals in Central Asian Republics. The Exhibition is aimed to promote this sector in the country and to reveal the regional potential, to introduce the latest developments to the mining and exploration sectors. Venue: Atakent International Exhibition Centre, Almaty, Almaty [City], Kazakhstan. 17-19 SEPTEMBER 2008 Kazcomak The Kazakhstan International Exhibition Kazcomak is the second and only specialized exhibition in the Central Asia Region to attract international and major local companies engaged in the development of quarries and related operations, production of asphalt, handling machinery and equipment, the construction of industrial projects, road building and housing and public utilities construction, and road patching and renovation. Venue: Atakent International Exhibition Centre, Almaty, Almaty [City], Kazakhstan. 17-19 SEPTEMBER 2008 Atyrau Food Atyrau Food is the leading part of this technology forum. It showcases all kinds of food processing and packaging machines, materials, systems and products under one roof. This is the unique opportunity to meet senior buyers & decision makers from all facets of the user industry. Venue: Atyrau Sports Complex, Atyrau, Kazakhstan. 17-19 SEPTEMBER 2008 Astana Leisure Astana Leisure is the main International Autumn Trade Fair for Tourism in Kazakhstan and CIS and marks the beginning of the winter season. The show features the entire product range of tourism - from city and sight-seeing trips, winter holidays, winter-sun and long distance destinations, to adventure and safari tours, wellness and educational holidays as well as MICE and VIP tourism. Venue: Astana’s Congress Hall, Astana, Kazakhstan. 17-19 SEPTEMBER 2008 Interfood Atyrau Interfood Atyrau will provide a highly professional exhibition and seminars forum for regional, local and international companies in the Russian food market. Exhibitors will benefit from the vast experience of Primexpo and ITE and excellent standards of service that it is known for, from stand design right through to marketing services and customer care. Venue: Atyrau Sports Complex, Atyrau, Kazakhstan. 24-26 SEPTEMBER 2008 Transit-TransKazakhstan

An Exhibition where you can establish new business contacts, evaluate opportunities for market entry, exhibit and sell products and services, evaluate company’s prospect in the market, monitor competition. Venue: Atakent International Exhibition Centre, Almaty, Almaty [City], Kazakhstan.

24-26 SEPTEMBER 2008 Karaganda Build Karaganda Build, the building industry benefits from the economic growth and the inflow of foreign capital and is regarded as a very promising market. It is growing rapidly, and numerous projects in the field of road construction, house building and the construction of office premises are planned. Venue: Sports Complex Zhastar Kazakhmys, Karaganda, Kazakhstan.

1st FilExpo Qatar 2008 What:

2ND ANIMAHENASYON ’08 Pinoy Animation Festival LAUNCHING When: September 24, 2008 Where: Central Plaza, Eastwood City, Libis, QC Time: 1:00 PM to 6:00 PM activities 6:00 Pm to 8:00 pm Program / presscon Contact: ANIMATION COUNCIL OF THE PHILIPPINES, INC. (APCI) Lyna A. Valdez – 0917.932.90.01 Eric S. Tansingco – 0906.550.31.11 0908.433.49.38 438.29.83 loc. 150 583.64.08

THE first-ever Filipino expo in Qatar, scheduled to be held in October, will provide a platform for companies to tap the growing Filipino market and bring together Filipinos in Qatar. The ‘1st Filexpo Qatar ‘08’ is being brought to the country by ABS-CBN Middle East’s TFC World Tours. The expo, to be held from October 9 to 11, is aimed at helping Philippine and Qatar-based companies utilise opportunities in the Filipino market and offering Overseas Filipino Workers products, services and opportunities in the Philippines and the Gulf. The event will consist of a two-day exposition at the Qatar International Exhibition Center. The finest Filipino delicacies, handicrafts from the Philippines, fashionable apparel and high-tech gadgets are only some of the items that will be on offer during the affair, which is expected to attract more than 50 exhibitors from the Philippines and the Gulf and thousands of visitors. At the expo, real estate companies will also set up stalls for Filipinos wanting to acquire their dream home in the most relaxed environment ideal for a vacation in the home country. Popular singers will also be flown in from the Philippines to entertain visitors to the expo. The third day of the event will feature popular bands in the ‘2nd Rakrakan Reload Qatar’ at the Qatar Sports Club. The upcoming expo follows the success of the 1st Filipino Exposition in Dubai: Tiangge, Bazaar, Atbp held in June at Dubai’s World Trade Center.


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ASEAN BIZTIMES

September 16-30, 2008


ASEAN BIZTIMES

September 16-30, 2008

HURRICANE

HITS … From page 1

maintain stability in financial markets through measures such as appropriate money market operations,” Gov. Masaaki Shirakawa said. The Japanese unit of Lehman Brothers Holdings Inc. requested bankruptcy protection at a Tokyo court after the 158-year-old firm filed for Chapter 11 bankruptcy in New York on Monday. Seichi Miura, strategist at Mitsubishi UFJ Securities in Tokyo, said already weak investor sentiment has been badly shaken by Lehman. He predicted extremely volatile markets ahead. “The market just hasn’t been able to shake off an overall downward trend,” he said. The Tokyo Stock Exchange halted securities and derivatives trading by Lehman Brothers a day after Japan’s financial watchdog ordered its local unit to suspend operations. Share prices in Tokyo fell across the board, with banking issues taking a particularly hard hit in the wake of Lehman’s collapse. Investors unloaded shares in major Japanese banks listed as some of the biggest lenders, including Aozora Bank, Mizuho Financial Group and Shinsei Bank. Aozora, a midsize Tokyobased bank, lost more than 19 percent, even as the company in a statement sought to reassure markets that its net exposure could be reduced to less than $25 million compared with the widely reported figure of $463 million. Mizuho Financial Group, Inc., with a $289 million loan to Lehman, fell more than 10 percent. Shinsei was down almost 16 percent. In Europe, Britain’s FTSE 100 was down 1.5 percent and France’s CAC-40 slid 1.4 percent. Both markets had fallen sharply Monday. Australia’s banks, including Commonwealth Bank of Australia, ANZ Banking Group and National Australia Bank Ltd., were all hit hard. South Korea’s financial regulator also said it had suspended some operations of two local units of Lehman Brothers. In Seoul, South Korean banks extended losses. Top lender Kookmin Bank shares declined 8 percent. Hana Financial Group shares fell 10 percent. Hong Kong In Hong Kong’s financial market will experience volatility as Lehman Brothers Holdings Inc.’s bankruptcy compounds a “severe crisis” in global markets, the city’s defacto central bank said. “There’ll be negative impact on the Hong Kong financial market for sure,” Joseph Yam, chief executive of the Hong Kong Monetary Authority, said in an interview broadcast on the city’s Cable TV channel today. “We expect to see volatility in prices but there should be no structural problems.”

Yam in 1998 led the Monetary Authority in spending $15 billion to fight off speculators betting the Hong Kong dollar would be allowed to weaken when regional currencies fell during the Asian financial crisis. Yam said he saw no “panic selling” in the US stock market. The market in Hong Kong was closed yesterday for a public holiday. Yesterday’s interest-rate cut announcement by China’s central bank is “good news” for Hong Kong as it will provide liquidity for the financial market, he said. The People’s Bank of China lowered interest rates yesterday for the first time in six years and reduced the amount of cash that some banks are required to set aside. It cut the one-year lending rate to 7.20 percent from 7.47 percent, effective today. “This should provide a relief to the market,” said Yam. “I expect some central banks to soon announce similar measures to provide liquidity and some may already be discussing a rate cut.” Taiwan’s Stocks Taiwan’s government instructed its four major funds and state-owned banks to buy shares to help reverse the stock market’s slump. The index, which fell as much as 5.4 percent today, was 4.5 percent lower at 1:05 p.m. in Taipei. Fed policy makers will meet today to decide on its key interest rate. The central bank hasn’t reduced rates since April 30, when it made the seventh cut since September 2007, bringing the target rate for overnight loans between banks to 2 percent. Futures show traders boosted odds to 68 percent that the Fed will cut rates at the meeting. “Cutting interest rates may not be the most appropriate way to solve the crisis,” said Lam. “It’s better for them to continue or enlarge their liquidity and collateral program.” Asian Currencies The dollar also took a hit, falling to 103.83 yen yesterday afternoon in Asia from mid-107 yen levels before the weekend. South Korea’s won fell by the most since at least August 1998 after Lehman Brothers Holdings Inc. filed the biggest bankruptcy in history, fueling speculation global investors will step up sales of local shares and repatriate funds. Taiwan’s dollar weakened. The currency, the biggest loser among 26 emerging-market currencies tracked by Bloomberg, approached a four-year low and the nation’s Kospi stock index tumbled as much as 6.5 percent. Vice Finance Minister Kim Dong Soo said the government may provide funds to help stabilize financial markets. Taiwan’s dollar slumped as the Taiex index plunged 4.4 percent, bringing this month’s slide to 18 percent, and the

government instructed its four major funds and state-owned banks to buy shares to help arrest the losses. Lehman’s bankruptcy left the island’s companies with NT$80 billion ($2.5 billion) at risk, the financial regulator said in a statement last night. The Taiwan dollar was little changed yesterday after the central bank sold more than

LAOS

$500 million in the currency market, the Commercial Times reported today, citing traders it didn’t identify. The Philippine peso declined for a second day as the MSCI Asia-Pacific Index of stocks slumped the most in eight months. The index headed for it’s lowest since August 2006 after American International Group Inc. sought

READY … From page 1

South Korean companies are financing a taekwondo centre and a 27hole golf course and Japan was funding a judo venue. Thailand last month pledged $2.9 million and will train officials in 12 sports, while neighboring Vietnam has put up $19 million to build eight 10story apartment blocks for athletes. Singapore has offered computer technicians and English teachers to educate volunteers and staff, most of which will be local university students. The Games take place in December 2009 and will be contested by Laos, Malaysia, the Philippines, Thailand, Singapore, Indonesia, M y a n m a r, E a s t Ti m o r, B r u n e i , Cambodia and Vietnam. The 2009 SEA Games in Vientiane was officially announced to thousands of athletes and officials from Asean nations on Saturday night during the closing ceremony of the 24th SEA Games in Nakhon Ratchasima province, Thailand. The closing ceremony took place in front of 20,000 spectators in the main stadium in Nakhon Ratchasima. All Lao athletes and officials who attended the closing ceremony of this

capital to prevent a collapse. Foreign investors sold $605 million more Philippine stocks than they bought this year, according to stock exchange data. “People are waiting for further news from AIG,” said Catherine Tan, head of foreign exchange at Thomson Financial Asia in Singapore. “If the rescue falls through, there will

year’s SEA Games were delighted to be present, as the occasion marked not only the medals they had won but also the day when Laos took possession of the SEA Games flag ahead of the 25th SEA Games in Vientiane in 2009... The Lao delegation receiving the SEA Games flag was led by Standing Deputy Prime Minister and President of the Executive Board of the 2009 SEA Games, Mr. Somsavat Lengsavad; the Minister to the Prime Minister’s Office, President of the Lao National Sports Committee and Lao National Olympic Committee, Dr. Phouthong Seng-akhom; the Vice President of the Lao National Sports Committee and National Olympic Committee, Mr. Somphou Phongsa; and the Vice President and Secretary General of the Lao National Olympic Committee, Mr. Souvannarath Sayavong. After this year’s SEA Games host Thailand presented the SEA Games flag to Laos , a performance by more than 400 Lao artists in five programs followed. The first item was a traditional dance and the song Sieng Khaen Lao , featuring the cultural traditions of Lao ethnic groups and the khaen – the country’s traditional musical instrument. The second item was the Sunrise Dance, a traditional dance modified from the Ramayana. This was first performed

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be much more blood on the street and there will be more selling of currencies. When you have risk aversion, the peso is one of the currencies being hit in Asia.” The local currency dropped 0.4 percent to 47.265 per dollar in Manila, according to Tullett Prebon Plc. The peso has fallen 12 percent in the past six months.

in Luang Prabang province and depicts the tradition of kindness, friendliness and hospitality of Lao women. The third item portrayed the Hmong New Year, and by a dance to celebrate the harvest season. The troupe then performed a song to welcome the 25 th SEA Games in 2009, which will take place in Vientiane. The song told of the honor and pride the Lao people feel at hosting the SEA Games, and expressed a welcome to all Asean athletes, officials and distinguished guests. The fifth item on the program was a song expressing how the games will serve to strengthen relationships, friendship, solidarity and unity. It is hoped the SEA Games will help to push Asean sports closer to world levels in the near future. In the meantime, Laos is delighted to be hosting the event and warmly welcomes all Asean members to the games in 2009. Saturday night was an occasion not only for Lao athletes and people around the country to celebrate the passing of the SEA Games flag to Laos but also the fact that Laos had its first ever major victory at the SEA Games this year, winning 5 gold, 7 silver and 32 bronze medals.

PNOC Alternative Fuels Corporation The PNOC Alternative Fuels Corporation (PNOC-AFC), formerly PNOC Petrochemical Development Corporation, was established in July 2006. Its primary mandate is to explore, develop and accelerate the utilization and commercialization of alternative fuels in the country. As a secondary mandate, the PNOC-AFC shall also pursue the development, operation and management of a petrochemical industrial estate. The complex, located in Limay and Mariveles, Bataan, which is approximately 530 hectares, is to be developed in phases.

Alternative Fuels Corporation PNOC Building 6, Energy Center, Merritt Road, Fort Bonifacio, Taguig, Metro Manila, Philippines Tel. No.: (+63 2) 812-6209 (Trunkline) Web Site: www.pnoc.com.ph

VISION To become one of the most prominent alternative energy-producing companies in the region. "The PNOC Alternative Fuels Corporation shall have the primary responsibility over the Biofuels Project and shall be the one to coordinate with the concerned agencies." Pres. Gloria Macapagal Arroyo NEDA/NAPC Cabinet Meeting Malaca?ang Palace 8 August 2006


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ASEAN BIZTIMES

September 16-30, 2008

S EPTEMBER

IS

liver cancer LIVER cancer (hepatocellular carcinoma) is a cancer arising from the liver. It is also known as primary liver cancer or hepatoma. The liver is made up of different cell types (for example, bile ducts, blood vessels, and fatstoring cells). However, liver cells (hepatocytes) make up 80% of the liver tissue. Thus, the majority of primary liver cancers (over 90 to 95%) arises from liver cells and is called hepatocellular cancer or carcinoma. The most common cancer in the world. A deadly cancer, liver cancer will kill almost all patients who have it within a year. In 1990, the World Health Organization estimated that there were about 430,000 new cases of liver cancer worldwide, and a similar number of patients died as a result of this disease. About three quarters of the cases of liver cancer are found in Southeast Asia (China, Hong Kong, Taiwan, Korea, and Japan). Liver cancer is also very common in sub-Saharan Africa (Mozambique and South Africa). The frequency of liver cancer in Southeast Asia and sub-Saharan Africa is greater than 20 cases per 100,000 population. In contrast, the frequency of liver cancer in North America and Western Europe is much lower, less than five per 100,000 population. However, the frequency of liver cancer among native Alaskans is comparable to that seen in Southeast Asia. Moreover, recent data show that the frequency of liver cancer in the U.S. overall is rising. This

increase is due primarily to chronic hepatitis C, an infection of the liver that causes liver cancer. Too much alcohol Cirrhosis caused by chronic alcohol consumption is the most common association of liver cancer in the developed world. Actually, we now understand that many of these cases are also infected with chronic hepatitis C virus. The usual setting is an individual with alcoholic cirrhosis who has stopped

MONTH

drinking are more likely to die from non-cancer related complications of alcoholic liver disease (for example, liver failure). Indeed, patients with alcoholic cirrhosis who die of liver cancer are about 10 years older than patients who die of non-cancer causes. Finally, as noted above, alcohol adds to the risk of developing liver cancer in patients with chronic hepatitis C virus or hepatitis B virus infections. What are the treatment options for liver cancer? The treatment options are

SANPIRO GENERAL SERVICES CORPORATION (Manpowering Philippine Industries)

drinking for ten years, and then develops liver cancer. It is somewhat unusual for an actively drinking alcoholic to develop liver cancer. What happens is that when the drinking is stopped, the liver cells try to heal by regenerating (reproducing). It is during this active regeneration that a cancer-producing genetic change (mutation) can occur, which explains the occurrence of liver cancer after the drinking has been stopped. Patients who are actively

dictated by the stage of liver cancer and the overall condition of the patient. The only proven cure for liver cancer is liver transplantation for a solitary, small (<3cm) tumor. Now, many physicians may dispute this statement. They may argue that a small tumor can be surgically removed (partial hepatic resection) without the need for a liver transplantation. Moreover, they may claim that the one and three year survival rates for resection are perhaps comparable to those for liver transplantation.

HOROSCOPE FROM:

Rev. Fr. Wongsengtian Taoist Grand Minister & Feng Shui Master

(For the period of September 16-30, 2008) RAT – Be cautious with threats of robbery and fire outbreak. OX – Be cautious with threat of robbery. TIGER – Avoid going to yin places like funeral parlor and high places, no hiking for you. RABBIT – Trend of fortune starts to improve, there’s job opportunity for the taking. DRAGON – Be cautious with threat of being swindled, could incur bad debt. SNAKE – You need to be cautious, robbery SHENG LIAN TEMPLE and con men threaten your days. 159 Bayani St. via HORSE – Be careful when traveling G. Araneta Avenue, Quezon City, Philippines especially at night. Tel No: (63-2)711-2714/ SHEEP – Monetary luck is good. (63-2)732-0334 Mobile No: 0918-3990997 MONKEY – Days will pass unnoticeable, there’s some income, remember to save E-mail: wongsengtian@yahoo.com some. ROOSTER- There are unfriendly people around you, be fair and considerate to workers/employees. DOG – There’s income but family condition is not so harmonious. PIG – Beware of threats of accident in water and robbery.

9623A Pililia Street Rizal Village 1208 Makati City E-mail: sanpiro@asia.com However, most patients with liver cancer also have cirrhosis of the liver and would not tolerate liver resection surgery. But, they probably could tolerate the transplantation operation, which involves removal of the patient’s entire diseased liver just prior to transplanting a donor liver. Furthermore, many patients who undergo hepatic resections will develop a recurrence of liver

SEPTEMBER 16, 2008 TODAY IS GOOD FOR: MOVING TO NEW PLACE; RAISING LIVESTOCK; PUTTING LUCKY CHARMS; TRAVELS Today is not favorable for those born under the sign of: OX SEPTEMBER 17, 2008 TODAY IS GOOD FOR: BAPTISMAL; INSTALLING STOVE/MACHINE; SETTING FORTUNE TABLE; TRAVELS; BURIAL Today is not favorable for those born under the sign of: TIGER SEPTEMBER 18, 2008 TODAY IS GOOD FOR: GENERAL CLEANING; TRAVELS Today is not favorable for those born under the sign of: RABBIT SEPTEMBER 19, 2008 TODAY IS GOOD FOR: GROUNDBREAKING; MOVING BED; GENERAL CLEANING; PUTTING LUCKY CHARMS Today is not favorable for those born under the sign of: DRAGON SEPTEMBER 20, 2008 TODAY IS GOOD FOR: MOVING BED; INSTALLING STOVE/MACHINE; RAISING LIVESTOCK; TRAVELS Today is not favorable for those born under the sign of: SNAKE

Tels.: 870-9421 898-0372 870-9422 Fax: 897-5219

cancer elsewhere in the liver within several years. In fact, some experts believe that once a liver develops liver cancer, there is a tendency for that liver to develop other tumors at the same time (synchronous multicentric occurrence) or at a later time (metachronous multicentric occurrence). How do we know if a particular treatment worked for

SEPTEMBER 21, 2008 TODAY IS GOOD FOR: DEMOLITION; REPAIRS; SETTING FORTUNE TABLE Today is not favorable for those born under the sign of: HORSE SEPTEMBER 22, 2008 TODAY IS GOOD FOR: DEMOLITION; GENERAL CLEANING Today is not favorable for those born under the sign of: SHEEP SEPTEMBER 23, 2008 TODAY IS GOOD FOR: ENGAGEMENT; MEETING FRIENDS; BURIAL Today is not favorable for those born under the sign of: MONKEY SEPTEMBER 24, 2008 TODAY IS GOOD FOR: DEMOLITION; REPAIRS Today is not favorable for those born under the sign of: ROOSTER SEPTEMBER 25, 2008 TODAY IS GOOD FOR: WEDDING; MOVING TO NEW PLACE; MOVING BED; INSTALLING STOVE/MACHINE; PUTTING LUCKY CHARMS Today is not favorable for those born under the sign of: DOG SEPTEMBER 26, 2008 TODAY IS GOOD FOR: WEDDING; GROUNDBREAKING; MOVING TO NEW PLACE; MOVING BED;

a particular patient? Well, hopefully, the patient will feel better. However, a clinical response to treatment is usually defined more objectively. Thus, a response is defined as a decrease in the size of the tumor on imaging studies along with a reduction of the alphafetoprotein in the blood, if the level was elevated prior to treatment.

OPENING BUSINESS; INSTALLING STOVE/MACHINE; NEGOTIATING DEALS/VISA; RAISING LIVESTOCK; PUTTING LUCKY CHARMS; MEDICAL CHECK UP; SETTING ALTAR; MEETING FRIENDS Today is not favorable for those born under the sign of: PIG SEPTEMBER 27, 2008 TODAY IS GOOD FOR: GENERAL CLEANING Today is not favorable for those born under the sign of: RAT SEPTEMBER 28, 2008 TODAY IS GOOD FOR: WEDDING; MOVING TO NEW PLACE; NEGOTIATING DEALS/VISA; PUTTING LUCKY CHARMS; TRAVELS Today is not favorable for those born under the sign of: OX SEPTEMBER 29, 2008 TODAY IS GOOD FOR: REPAIRS; GENERAL CLEANING; BURIAL Today is not favorable for those born under the sign of: TIGER SEPTEMBER 30, 2008 TODAY IS GOOD FOR: TRAVELS; BURIAL Today is not favorable for those born under the sign of: RABBIT Reminder: Offering to THO TI KONG (God of Earth)


ASEAN BIZTIMES

September 16-30, 2008

INFOTECH

APC Supports Computer World’s 17th year Anniversary. APC, a global leader in integrated critical power and cooling services recently participated at ComputerWorld Philippines’ 17th year anniversary through a CIO forum entitled “Safeguarding your Data”. Held at the Dusit Thani Hotel, APC presented to CIOs the advantages of Network Critical Physical Infrastructure and “pay as-you-go” business value. By increasing the availability and agility, CIOs can maximize the use of their data centers and protect data loss while decreasing the Total Cost of Ownership. “Rightsizing” data centers also play a vital role in contributing to Green IT and data protection. In photo (L-R) during ComputerWorld’s 27th anniversary CIO Forum is Bombing Gutierrez, President, Mediag7way and Ian dela Rosa, Enterprise Business Development Manager, APC by Schneider Electric.

Google challenges Microsoft with ‘Chrome’ GOOGLE Inc is challenging Microsoft Corp with its own Web browser that lets users run many applications that once worked only when installed on local PCs, executives said on Tuesday. Google introduced a public trial version of its new browser software, Chrome, which is designed to handle not just text and graphics, but more complex computer programs. Chrome, available in 43 languages in 100 countries at www.google.com/chrome, has been designed to download software and Web pages faster than existing browsers. It even allows users to keep working when one of its windows crashes. This represents Google’s longanticipated head-on attack on Microsoft and its Internet Explorer, which has three-quarters of the Web-browsing market. Google has backed Mozilla Corp’s Firefox browser, which holds about 18 per cent of the market. Google engineers and executives call Chrome a “fresh take on the browser,” a 15-year-

old technology that is supplanting 25-year-old desktop software as the basic way users interact with computers. “You actually spend more time in your browser than you do in your car,” said Brian Rakowski, group product manager for Google’s browser project. Chrome was seen by analysts as partly a defensive move due to Google’s fear that the recently upgraded Internet Explorer 8 (IE 8) could be used to lock out Google. Google’s core business of Web search and related advertising depends on browsers. A Microsoft executive said IE 8 gives users control over how and where they navigate, improves their day-to-day browsing experience, and keeps people safe from new security threats. “Microsoft understands that Web browsing is crucially important for hundreds of millions of people, which is why we invest in Internet Explorer so heavily,” Dean Hachamovitch, general manager of Internet Explorer, said in a statement.

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Canon raises the bar with its DIGIC 4 image processor in the new EOS 50D Digital SLR THE AF-SLR market is showing very robust growth which CIPA forecasts will exceed nine million units shipped this year — a 22 percent jump from last year. To meet this growing demand as well as maintain its leadership position in the advanced amateur segment which it pioneered, Canon announces the launch of the EOS 50D, which builds upon the success of the preceding model with greater performance, ease of use, and more advanced features designed to extend the capability and creativity of its user. Improved Core Performance At the heart of the improvements, Canon’s latest DIGIC 4 image processor debuts in the EOS 50D, offering high speed rendering of fine detail, natural colour reproduction, low noise and greater signal processing speed (1.3 times over DIGIC III). Beyond this, the DIGIC 4 also offers additional

features that enhance camera performance and image quality, such as real-time face detection AF during Live View shooting, Auto Lighting Enhanced Optimizer which automatically corrects image exposure, automatic correction of lens vignetting and the convenience of HDMI output. Another element where core performance has been enhanced is the EOS 50D’s newly-developed APS-C sized CMOS sensor that offers the highest image resolution in its class, at 15.1 megapixels; it also boasts an expanded ISO range from the previous model (H1:6400 and H2:12800). To cope with the increased data stream of higher image resolution, the EOS 50D is compatible with UDMA (Ultra Direct Memory Access) CF cards which offer twice the data transfer speed over EOS 40D (predecessor model).

Empowerment through ease of use The EOS 50D also sports a host of improvements in features and user interface such that the enhanced capability and potential of the EOS 50D is made so much more accessible to advanced users and enthusiasts alike. Most apparent among these is the 3-inch VGA LCD screen, with a screen resolution of 920,000 pixels,

EMC and Lenovo launch unlimited online data backup service for small business professionals EMC, the world leader in information infrastructure solutions, and Lenovo, one of the world’s largest makers of personal computers, today announced a global partnership to provide an unlimited online data backup service specifically designed for the small business professional. The new service is available on all new Lenovo ThinkPad SL series notebooks and is powered by EMC® MozyTM, the industry-leading online data backup service for consumers and businesses. Filipino Lenovo ThinkPad Notebook users are among those who would be the first to avail of this service alongside users in Ireland, United Kingdom, South Africa, Australia, New Zealand, Philippines, Singapore, United States and Canada. The service will soon be offered on a worldwide basis for all Lenovo Think branded systems and will support seven languages.* “We looked to EMC’s Mozy as the premier online data backup and storage service for Lenovo customers. We chose them specifically because of their innovation and industry leading

solutions,” said Henry Hicks, Vice President of Sales & Marketing for Lenovo Worldwide Services. “Because data protection and security are growing concerns for businesses we wanted a world-class online data backup and storage solution to complement Lenovo’s worldclass products. EMC’s Mozy delivers that with the right level of security and quality.” As small businesses around the world look for a cost-effective and easy way to protect their information, they are increasingly looking to online backup. Mozy provides a simple, automatic and secure online backup service to more than 850,000 users across the globe. Key features of the new Lenovo Online Data Backup service include: • Unlimited online backup capacity, which enables professionals to focus on their work without managing a data storage quota • Open and locked file support, enabling business professionals to back up information without having to shut down any programs or interrupt workflow

• Bandwidth throttling, allowing users to control the amount of bandwidth the online data backup service consumes • Privately managed encryption option using Advanced Encryption Standard EMC is also announcing today that it has opened Mozy’s first international data center located in Dublin, Ireland to better serve Mozy and Lenovo users worldwide. The new data center will address certain government regulations pertaining to electronic data storage and encryption export restrictions. “Protecting information on personal computers is especially critical for small businesses that can’t tolerate data loss or employee downtime. We’re thrilled that Mozy has been selected to help protect the personal and business data for Lenovo ThinkPad SL users” said Vance Checketts, Chief Operating Officer of EMC’s Mozy business unit. “The Lenovo partnership accelerates our plans to expand the Mozy service worldwide, and we look forward to offering international customer support and localized language versions.”

BellTell links up with IP-Converge NEXT generation telecommunications company Bell Telecommunications Philippines Inc. (BellTel) recently upgraded their current connection with IP-Converge – the Information Technology and Telecommunications division of publicly-listed IPVG Corp. (PSE:IP) by 45 Mbps. This is in-line with the expected growth of the Philippine broadband industry of nearly 1 million subscribers in 2007 to 4 million by 2012. The internet sector is well positioned for growth, with Seated from left, IPC Senior Account Manager Vanessa a deregulated market, strong government support Beldia, Bell Tel Vice-President for Operations Carmelo for IT development and an increasing internet Lampa, IPC Senior Vice President Sales, Percival De los Reyes, Bell Tel Assistant Vice President Network savvy population “We foresee the demand for reliable broadband Engineering and Operations Armando Macaraeg. connection to increase as companies adopt technologies and network-based applications as they make themselves more global and operationally efficient. The design and architecture of BellTel’s core distribution networks were driven by in-depth knowledge and appreciation of the market needs.

four times the performance of the preceding model. Together with special coatings to reduce glare and resist smudging, picture review is now much easier and more precise. In addition, the utility of the improved LCD screen is also fully maximized by the EOS 50D’s improved Live View shooting mode. Live View shooting affords added convenience and versatility by allowing the photographer to frame his shots using the builtin LCD screen in the manner of compact digital cameras, or a external screen when the camera is connected to a computer. In the EOS 50D, Live View shooting is comparatively more intuitive and convenient compared to earlier models as most menu operations and camera settings can now be accessed while in this mode, such as changing of shooting mode, image playback and selection of AF frame.

Headstrong targets $500m in revenues by 2010 GLOBAL consulting and IT services firm Headstrong plans to become the global leader in the financial services industry and a major player in the business process outsourcing (BPO) and IT services industries by 2010 with revenues exceeding US$500, according to Arjun Malhotra, CEO and chairman of the board. The company also plans to expand its workforce to 10,000 under an expansion plan dubbed Headstrong 2.0. “BPO and IT services are fastgrowing industries with longterm upsides. By acquiring companies in these industries, we are confident that we can significantly enhance and expand our current service offerings and attain our US$500 million revenue target for 2010,” Malhotra said here today. “We are particularly looking for companies that will add depth, expertise, and new services to Headstrong, regardless of size and revenue,” Malhotra explained. The Headstrong CEO said the strategic objective underlying its planned acquisitions is to assemble a comprehensive process solutions provider with expertise in business consulting, technology development, quality assurance, production support, and BPO. Both BPO and IT services have benefitted from the financial fallout associated with the sub-prime mortgage crisis in the U.S. The subsequent economic downturn has increased pressure on businesses to lower costs and shed non-core processes. Malhotra said he expects demand to be sustained beyond the crisis, as companies seek competitive parity in terms of operational efficiency.


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ASEAN BIZTIMES

September 16-30, 2008

Biz

LITES

people•events•places•products•services•socials cultural

THE MANILA YACHT CLUB’S NEWLY ELECTED BOARD OF DIRECTORS. Photo shows: (from left) Director Edward C. Go; Rear Commodore Grepor “Butch” Belgica; Past Commodore Valerio E. Kalaw; newly elected Commodore Ildefonso G. Tronqued, Jr.; Vice Commodore Jesus Antonio A. Cabangon; Director Wellington C. Soong; and Director Reuben S. Lista. MANILA YACHT CLUB. Photo below shows the Manila Yacht Club, the oldest and most prestigious yacht club in the Philippines.

16TH GUANGZHOU FAIR. Photo shows crowds lining up at the Philippine booth showcasing the Amazing Cones featuring pizzas in cones and ice creams. Amazing Cones is up for franchise in China.

Malaysian dancers during the reception. MALAYSIAN 51ST NATIONAL DAY. Photo shows Philippines’ Foreign Affairs Secretary Alberto Romulo with H.E. Ambassador of Malaysia to the Philippines Dato’ Ahmad Rasidi Hazizi during the reception held at Shangrila Hotel Makati, Philippines. They are shown cutting the ceremonial cake with their spouses.

TUNA INDUSTRY SUPPORTER. At the 10th National Tuna Congress, Senator Edgardo Angara called on the local tuna fishing sector to modernize its fleet and improve management systems to become more globally competitive. He also encouraged the tuna industry to avail itself of the Agriculture Competitiveness Enhancement Fund (ACEF) through the Department of Agriculture as a strategy to cushion the impact of high fuel costs among its membership. The two-day congress, with the theme “Managing Our Tuna Resource: Exploring Opportunities and Alternatives,” was organized by the SOCSKARGEN Federation of Fishing and Allied Industries, Inc. and supported by City Government of General Santos, the First Congressional District of South Cotabato, the Department of Agriculture and USAID’s Growth with Equity in Mindanao (GEM) Program.

PREMIERE BANK 48TH ANNIVERSARY. Photo shows: Ms. Belen Reyes Castro, Chairman of the Board, Premier Bank; Ms. Jo Maribel G. Antipala, Regional Sales Director, South Region; Mr. Luis T. Arriola, President of St. Jude Management Services and Mr. Herminio “Jun” M. Famatigan, Premiere Bank President/CEO.


ASEAN BIZTIMES

September 16-30, 2008

Biz

SPORTS Roger Federer’s resurgence breathes new life into tennis ROGER Federer still had Rafael Nadal, having won French Open, over 80 floors to ascend to the the Empire State Building’s Wimbledon, Olympic Games sundry others famed observation deck, but and the US Open champion did tournaments will remain No not need the elevator to make 1 for the rest of the season it there. He could quite easily unless something miraculous have floated. The Net Post happens (and it has been a preferred to let Federer go year of miracles). Though he it alone the rest of the way - lost in the semifinals of the the building was shrouded in Open to Murray in what was cloud, it was stiflingly humid the Scot’s proudest moment and the opportunity for a of an illustrious fortnight, chat on the third floor was perfectly satisfactory, thanks all the same. This was the morning after the Swiss had Living the high life: Federer keeps a safe pair of become a hands around the US Open trophy at the top of the g r a n d - s l a m Empire State Building champion for the 13th time Nadal actually increased his and he was in particularly lead over Federer from 770 effusive mood, probably as ranking points to 1,070. relaxed as one could ever Nadal was dropping 150 remember him and with points from last year’s fourth plenty of good reason. Much round finish and added 450 of his tennis against Andy points by reaching the semiMurray in the final had been finals. Meanwhile, Federer as near to perfect as he could defended his winner’s points have wished for. He said that (1,000) from last year. at times, he could feel his old Between now and the end of invincibility oozing back. the year, Federer has 1,325 Which quite possibly offers points to defend while Nadal men’s tennis the finest end has 675 points to come off. of season for years - and Federer has won his 13th certainly the most keenly grand slam at 27, he is in anticipated new keen pursuit of the 14th that season this would equal Pete Sampras’s c e n t u r y . record and the Open victory “There are has stirred his passions. still so Novak Djokovic wants to m a n y make certain that he is not e m o t i o n a l remembered simply as a events for me o n e - h a l f - o f - t h e - s e a s o n to play,” wonder - his Australian Federer said. Open victory remains vivid, Spain’s as do his triumphs at the Indian Wells and Rome Masters, proving he is a man for all surfaces. And, of course, there is Murray, a grandslam finalist, a Masters champion, up to No 4 in the world, who twice beat Djokovic in the summer, defeated Nadal for the first time and has chewed up eight of the top ten this year. Nikolay Davydenko is going to be a refreshed man after his m a t c h - f i x i n g exoneration. The battle will be joined.

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Singapore ready for F1 race ALL set for the Gran Prix Season, Singapore is revving up the excitement, pumping it up with activities to get motors roaring in the next few days. The Grand Prix Season is touted as a first in the history of Singapore, highlighting the first F1 night race not only in Singapore but also in the F1 history. Naturally, everyone can’t wait. F1 VIPs, VVIPs, celebrities and the rest of the world’s high-rollers are expected to come in droves to the Lion City from Sept. 19 to 29 (the GP Season will last for three weekends over two weeks). The F1 race is slated Sept. 26 to 28.

F1 route at the heart of the city.


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