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International
Monday, May 8, 2017
BUSINESS China seeks up to 85 percent stake in strategic port in Myanmar
YANGON - China is looking to take a stake of up to 85 percent in a strategically important sea port in Myanmar, according to documents reviewed by Reuters, in a move that could heighten tensions over China’s growing economic clout in the country. Beijing has been pushing for preferential access to the deep sea port of Kyauk Pyu on the Bay of Bengal, as part of its ambitious “One Belt, One Road” infrastructure investment plan to deepen its links with economies throughout Asia and beyond.
A consortium led by China’s CITIC Group has proposed taking a 70-85 percent stake in the $7.3 billion deep sea port, according to negotiating documents seen by Reuters and three people familiar with the talks between the Chinese state-owned conglomerate and Myanmar’s civilian government. The size of the proposed Chinese stake is substantially larger than the 50/50 joint venture proposed by Myanmar late last year, an offer rejected by CITIC, said two people involved in the talks. Well-placed sources told Reuters last month that China had signalled it was willing to abandon the controversial $3.6 billion Myitsone dam project in Myanmar, but would be looking in return for concessions on other strategic opportunities in the Southeast Asian nation - including the Bay of Bengal port. Kyauk Pyu is important for China because the port is the entry point for a Chinese oil and gas pipeline which gives it an alternative route for energy imports from the Middle East that avoids the Malacca Straits, a shipping chokepoint. The port is part of two projects, which also include an industrial park, to develop a special economic zone in Myanmar’s western Rakhine State. CITIC was awarded the lead role in both initiatives in 2015. Beijing-based CITIC, China’s biggest and oldest financial conglomerate, did not respond to several requests for comment on Friday. China’s Foreign Ministry did not immediately respond to a faxed request for comment. TALKS TO START Negotiations between Myanmar and CITIC, which sources said were set to start next week in the country’s commercial hub Yangon, come amid a Chinese diplomatic push to forge better ties with its resourcerich neighbour. Myanmar’s leaders have traditionally been wary of domination by China. But the country last month signed an agreement that will see oil pumped through
REUTERS/Tyrone Siu/File Photo
FILE PHOTO: An advertisement poster promoting China’s renminbi (RMB) or yuan , U.S. dollar and Euro exchange services is seen outside at foreign exchange store in Hong Kong, China August 13, 2015. the pipeline from Kyauk Pyu across Myanmar to southwestern China, while leader Aung San Suu Kyi is due to visit Beijing for a summit on “One Belt, One Road”, President Xi Jinping’s signature policy, in mid-May. One of the sources, who declined to be named, said CITIC was in the “driving seat” on the port project, and that Myanmar was unlikely to ask for a stake of more than 30 percent due to opposition from the Chinese firm. “Some people worry that China would have the power to do anything they want and control the project if it owns 85 percent,” said the person, who is familiar with the thinking of policymakers in Myanmar. “But Myanmar doesn’t have other options,” the person added, citing the Myanmar government’s financial constraints. The source did not specifically mention a quid pro quo over the Myitsone dam. A second source close to Myanmar’s policymakers corroborated that account, adding that Myanmar has agreed to choose from one
of four options proposed by CITIC, leaving it with a stake ranging from 15 to 30 percent. “Myanmar has no other choice but the four options given by CITIC,” said the second person, who is involved in the talks. Funding would be split between Myanmar and the CITIC-led consortium in proportion to the stake agreed, the two sources said. Soe Win, who leads the management committee of the special economic zone, confirmed negotiations would start next week but declined to comment on the deal, citing the confidentiality of the talks. SPECIAL ECONOMIC ZONE The nearly $10 billion Kyaukphyu Special Economic Zone, which Myanmar’s government has said would create an economic hub akin to Singapore covering 4,289 acres, is part of Myanmar’s plan to boost the economy in one of its poorest regions. A second consortium led by CITIC has also proposed taking a 51 percent stake in the $2.3
billion industrial park, an offer Myanmar has agreed to, said the two people involved in the talks. Soe Win said environmental and social impact studies would soon be conducted by Myanmar’s environmental ministry, with construction due to start in 2018. The economic zone faces opposition from activists and residents who criticised the tender process and said the development would have a negative impact on local people. Around 20,000 people are at risk of losing their homes and livelihoods due to land acquisition for the zone, according to the International Commission of Jurists, a human rights watchdog. CITIC’s consortiums include China Harbor Engineering Company Ltd, China Merchants Holdings, TEDA Investment Holding and Yunnan Construction Engineering Group. The only non-Chinese state-owned company involved is Thailand’s Charoen Pokphand Group.(rtr)
Bali News
International
Monday, May 8, 2017
Ubud Monkey Forest Road
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Ubud Monkey Forest Road is the namesake route passing the famous sacred sanctuary home of the grey long-tailed macaques (Macaca fascicuiaris). The one-way street follows on further south from Jalan Hanoman and turns at Ubud’s main town centre, across the road from the Puri Saren royal palace and Ubud’s famous art market. From where Ubud Monkey Forest Road starts, rows of shops, boutiques and outlets line its sides together with many guesthouses and hotels, restaurants and small day spas. Only a short distance further down, the forest sanctuary resides under lofty shades of the entrance gate, with a small parking space just across the road. Locally referred to as Jalan Monkey Forest, the Monkey Forest Road links the main shopping area with Ubud’s famous satellite streets of Jalan Hanoman, Jalan Sugriwa, and Jalan Jembawan, which are all southeast from the town centre. Along Ubud Monkey Forest Road, there are a variety of shops, some with clear signposts and some bearing only obscure objects and curios from behind single-glass displays. Most are art shops with selections of assorted handicrafts, antiques and alluring textiles from the archipelago and Bali. A stroll through Ubud Monkey Forest Road and the adjacent side streets will demonstrate that this area is not similar to main tourism areas in the island’s south, say Kuta and Legian for instance. Quieter footpaths, a cooler ambience and a more relaxed shopping climate make for a pleasant Ubud sidestreet shopping experience.
For simple items, there is the convenience store, Delta Mart. Various shops such as Toko Lagi showcase a range of antiques and items while organic shops such as Utama Spice sell a collection of essential oils, handmade soaps and aromatherapy items. Fashion, from men’s and women’s, to children’s wear can be found here. Just after the Ubud Monkey Forest sanctuary, a steep climb up north is where most of the fashion boutiques are found. Wardani Textiles boasts exotic and colourful sashes and sarongs as well as readymade clothing.
You will find a few internationally branded stores and famous local brands on Jalan Monkey Forest such as Uluwatu, Animale, Polo Ralph Lauren, Billabong, Volcom and other leading surf brands. The local brand of Balinese lace, Uluwatu, retails handmade women’s garments, dresses, bags and accessories, bed linen, table linen, and more. Jalan Hanoman also features rows of shops and clothing stores, with fine textiles from the archipelago and exotic forms, colours and designs. On Jalan Dewi Sita, find KOU Bali Shop, which sells
homemade organic fruit jams and organic soap. Good to Know There are actually three different roads that interlink to form the sidewalk shopping experience that is Ubud Monkey Forest Road. Interestingly, all of these roads’ names signify a monkey-related theme. Ubud Monkey Forest Road is obvious, while the Jalan Hanoman preceding it is named after a Hindu monkey deity, also a protagonist in the Hindu epic, Ramayana. Jalan Sugriwa, a road east of Jalan Hano-
man, is also named after a character from the Ramayana epic – Sugriwa being related to Hanoman, king of the monkey kingdom. Again to the east, Jalan Jembawan is named after a bear who together with the ‘Wanara’ monkey troops aided Rama in finding his kidnapped wife, Sita. All roads interconnect at one point, although only Jalan Monkey Forest has oneway traffic. Monkey Forest Road and Jalan Hanoman are connected by Jalan Dewi Sita, which also has several art and painting galleries as well as textiles and clothing outlets. (kmb)
Jalak Restaurant, Sky-Nest BBQ, All You Can Eat only IDR 150K Jalak Restaurant, one of 3 restaurants own by, The Nest Hotel by Danapati, is the hotel with 4 star classifiable modern and unique, located on Jl. Pratama 99X Nusa Dua, which has inaugurated its Grand Opening on April 8th, 2017. The concept of this Jalak Restaurant is open air, located on the 6th floor or Rooftop is ready to serve and pamper the needs of eating and drinking for the guest. And also serves the needs of wedding, birthday, until a meeting with the beautiful panoramic view. While relaxing in the afternoon can also enjoy sunset, mangrove forest, and around ocean here. The Jalak restaurant is open daily from 12 AM till 11 PM with capacity of 250 people for stand-
ing and 150 people with seat. A wide variety of dishes ranging from Oriental, International and Asian Foods is ready to serve guests. Special popular package in Jalak restaurant is Sky-Nest BBQ, All You Can Eat offer for guest every Friday from 6 PM till 11.30 PM, only IDR 150K Nett per person. Existence of Jalak restaurant also supported by Jalak Terrace which has a dazzling and impressive atmosphere suitable for guests who want to relax and enjoy food and drinks in the afternoon until dusk. Beside can be enjoying the beautiful panoramic of Nusa Dua area via this venue, the guest also offered some alternative by The Nest Hotel. Such as Infinity Pool and bar,
is a connected swimming pool with the bar, located in the rooftop with beautiful scenery and impressive, The Fitness Center, The Nest Spa, managed by Pandang Wangi Spa that experienced in management of Spa at Dewata Island. While Merak Restaurant located on the 3rd floor serves a wide variety of dishes ranging from Oriental, iInternational and Asian Foods is ready to serve guests 24 for hours. For guests who are reluctant to come directly into the restaurant due to tired or busy life, we are ready to serve the food delivery through “In-Room Dining” (Room Service) for 24 hours. ”The Lobby Lounge” overlooking the main road is very well suited for relaxing with family or colleagues. (kmb)