Low-cost airline AirAsia has signed a joint agreement with China to found a budget carrier based in the Chinese city of Zhengzhou.
AirAsia (China) will be a joint venture between AirAsia, Everbright Group, and Henan Government Working Group, according to a statement made by the airline.
“This Chinese venture represents the final piece of the AirAsia puzzle,” said AirAsia Group CEO Tony Fernandes. “In just 16 years, we have successfully built a presence in Malaysia, Thailand, Indonesia, the Philippines, India and Japan, with China closing the loop on all major territories in Asia Pacific.”
While few details of the LLC were revealed, according to the statement, AirAsia (China) plans to invest in aviation infrastructure, including a dedicated terminal at the Zhengzhou Xinzheng International Airport and an aviation academy to train pilots, cabin crew and engineers, as well as develop maintenance, repair and overhaul (MRO) facilities to service aircraft.
Both AirAsia and its sister airline AirAsia X fly to 15 destinations in China. It is the largest foreign LCC operating in the country.
Assuming the chairmanship of the Association of Southeast Asian Nations in 2018, Singapore’s priority for the regional bloc would be to advance co-operation, innovation and inclusive growth.
This is a golden opportunity for ASEAN and China to co-operate and advance the Belt and Road Initiative (the Silk Road Economic Belt and the 21st Century Maritime Silk Road) in the region, which will stimulate governments, multilateral organisations and the private sector to join forces to cultivate international co-operation and shared economic advancement.
The Belt and Road Initiative connects businesses and people around the world at reduced costs. This is a natural desire of economies craving a better tomorrow, particularly for an increasingly integrated Asia.
Asia’s intra-regional trade has surged to eurozone levels. Furthermore, high-level cross-border investments reflect the integration of complementary production capabilities and resources to serve both traditional Western consumers and surging Asian consumption.
According to the Asian Development Bank, Asia accounts for 60 per cent of the world’s growth. To sustain this growth, we need to identify and capture cross-country synergies and stimulate innovation. This is predicated on economic openness and good physical infrastructure which strengthens connectivity.
The Belt and Road Initiative’s benefits are clear.
In the long run, it promises a rosy outlook: affordable connectivity that will naturally lead to economic co-operation and innovation. In the short run, infrastructure investment will immediately stimulate global growth.
The intriguing consideration is that, in the intermediate term, the Belt and Road Initiative’s promise of an attractive economic outlook inspires improvements in government behaviour and capital markets. The gist of this logic is that the Belt and Road Initiative’s obvious rosy outlook combined with severe resource constraints will induce disciplined economic behaviour.
Infrastructure investment is costly. McKinsey estimates that $57 trillion in infrastructure investment is required between now and 2030 to simply keep pace with global GDP growth. For economic infrastructure alone, Asia will require $8 trillion.
There are many other similarly startling numbers. No government alone can meet these capital needs, not even China.
Clearly, the private sector needs to chime in. The only way to attract private sector investors is to offer bankable projects: developments that will reliably get private sector investors back their principal and promised returns.
This means governments will have to behave: prioritize the selection of infrastructure opportunities and ensure good governance. Additionally, to live within tight capital constraints, governments have to learn to be economical in implementation; this includes raising productivity and driving innovation in developing infrastructure.
President Xi Jinping and other delegates and guests take a group photo during the opening session of the Belt and Road Forum for International Cooperation in Beijing, on May 14, 2017Photo: China Daily/Asia News Network
Besides, the Belt and Road projects by design require meaningful government co-operation. Governments will oblige if there is a win-win situation. This inter-government co-operation is a particularly fascinating possibility. ASEAN member states can definitely benefit from good infrastructure investment－not just roads, transportation and ports, but also utilities such as water and electricity.
This is a good opportunity for ASEAN and China to co-operate using complementary capabilities across countries. For example, Singapore can bring project management capability, airport engineering, and water management to the table, while railroad engineering can come from China. The list is long and impressive.
Cooperation can be the impetus for long-lasting friendship among ASEAN, China, and other Asian economies.
Multilateral organisations such as the World Bank, Asian Infrastructure Investment Bank and the Asian Development Bank surely have great roles to play. They can contribute by cultivating information sharing, monitoring project implementation and enforcing governmental promises to alleviate fears of governments reneging on their commitments.
Moreover, they can guide the development of standard documentation for investment prospects, which will enhance investment instruments’ tradability.
Bankability depends on liquidity. The need for capital may stimulate development in capital markets, including advancing appropriately governed and standardized securitization contracts. There could be obstacles. For example, projects could run into shortages of construction materials, while engineering, and project management capabilities may be lacking. These can be overcome.
The greatest obstacle to the attainment of the Belt and Road Initiative vision is economies’ self-centeredness and short-term orientation. It takes leadership to do the right thing for us all: not to compete for short-term glory, political results and not to let national ego distort long-term rationality.
The Belt and Road Initiative vision is for the long term－harmonious co-operation and shared development for the world.
Singapore, ASEAN, China and other Asian economies, with long-term vision and courage, can show leadership to the world, which is now being threatened by nationalism, nativism and self-serving statesmanship.
The author is the dean of and Stephen Riady distinguished professor at the Business School of National University of Singapore.
About three-fourth of South Koreans had positive expectations on President Moon Jae-in’s state management, a survey showed Monday.
According to the local pollster Realmeter, 74.8 per cent of respondents answered Moon will perform skillfully on running state affairs, while 16 per cent gave negative views. The remaining 9.2 per cent were unsure.
The survey was conducted on 1,516 electorates from Wednesday to Friday. It has a margin of error of plus or minus 2.5 percentage points and a confidence level of 95 per cent.
Economic recovery and eradication of corruption topped the most urgent tasks that the new president should tackle, with 30.8 per cent and 30.4 per cent of respondents saying so. Justice (33.1 per cent) and communication (16.9 per cent) followed, the survey showed.
President Moon was sworn in Wednesday without the typical two-month transition period, elected through a rare presidential by-election. He will serve five years.
The new ruling Democratic Party of Korea saw a rise in public support after the election victory. With 44.7 per cent, up 3 percentage points from a week ago, the liberal bloc topped all parties in approval ratings.
The conservative opposition Liberty Korea Party fell 4.5 per cent to mark 13 per cent, ending its uptrend of three weeks. The progressive Justice Party ranked third with 9.6 per cent, followed by the centrist People’s Party at 8.8 per cent and the conservative Bareun Party at 8.3 per cent.
The maid discovered a secret camera whilst cleaning the toilet in August 2016. Source: Shutterstock / VGstockstudio
CANADIAN national Paul Kwan has been jailed in Singapore for 12 weeks after he was caught using a hidden camera to film his Indonesian maid showering and using the toilet.
A Singaporean court heard that Kwan had purchased a miniature camera while in Canada last year, which he used to secretly film the 28-year-old domestic helper showering and placed in his house’s kitchen toilet that only she used.
AFPreports that maid discovered the camera while cleaning the toilet in August 2016 before packing her belongings and heading to a domestic worker agency and calling the police.
The treatment of foreign maids in Singapore, many of whom are Indonesian nationals, has long been the topic of debate in the wealthy city-state. Almost a quarter of a million domestic workers are now employed there.
Singapore recently introduced legislation which dictates from October this year, employers will be required to provide insurance of up to SGD60,000 (US$43,000), reportsThe Straits Times. Until a decade ago Singapore completely excluded domestic workers from its basic labour laws.
In 2008, the country made it compulsory for employers to provide insurance and made weekly rest days mandatory in 2013. Nevertheless, a 2015 study showed that more than half of foreign maids were still denied the right to a day off each week.
Human Rights Watch reports ongoing, alarming rates of abuse including starvation, long working hours and humiliating treatment of domestic workers by Singaporeans.
Moreover, migrant rights groups claim that there has been a spike in the use of fake travel documents to allow domestic workers from Indonesia and other developing countries, including those who are underage, to work in Singapore, Hong Kong and other parts of Asia.
Japan recently relaxed its immigration laws to allow migrant domestic workers.
In 2015 Indonesia introduced a moratorium on sending domestic workers to 21 countries in the Middle East after widespread reports of exploitation and abuse, yet Singapore and Malaysia where many Indonesians work were exempt.
The case of TV host and actor Akanat “Nott” Ariyaritwikul allegedly assaulting a motorcyclist over a road accident in Bangkok late last year will be heard on May 24 at the Southern Bangkok Criminal Court, a source at the Office of the Attorney General said on Monday.
The source said public prosecutors indicted the 28-year-old this month on the following charges:
Assault causing harm, punishable by between six months and 10 years in prison; threatening harm someone to compel them to do something, punishable by up to three years’ jail and a Bt6,000 (S$243.20) fine or both; illegal detention, punishable by up to three years’ prison and a Bt6,000 fine or both; and humiliation or bullying someone in public, punishable by up to a month in jail and a Bt1,000 fine or both.
If 25-year-old messenger Kittisak Singto, who has been fined Bt400 for reckless driving causing property damage in relation to the incident, wants to be the case’s co-plaintiff and also file a civil lawsuit for compensation, he must submit the request to the court, the source said.
The case made headlines after a clip went viral of Akanat punching Kittisak in the face and breaking his nose on a Bangkok street on November 4 while trying to force him to apologise for the accident.
Kittisak claimed his motorbike was knocked off balance by a taxi and he crashed into Akanat’s mini sedan.
He said when he could no longer chase the taxi, he returned to the accident scene and was assaulted by Akanat, who ordered him to “kraab” the mini, which he refused to do.
Nott saying “kraab rot ku” (“kneel and wai before my car”) became a popular hashtag on Twitter.
#InternationalMuseumDay For those who are interested in the human past, don’t worry cause we got you covered as well! Join us at Lee Kong Chian Natural History Museum for their newest exhibition “Out Of The Water”, and get acquainted with the incredible world of biodiversity. Other than the real fossil skeletons of three long neck dinosaurs which lived during the Jurassic Period around 150 million years ago, the skeleton of the Singapore Sperm Whale is also exhibited at the Biodiversity Gallery of the museum! http://www.sistic.com.sg/events/lkc2015
Get acquainted with the incredible world of biodiversity at Singapore’s one and only natural history museum. Be awed by our three real and gigantic sauropod dinosaurs that take centre stage at the Lee Kong Chian Natural History Museum. Learn about the biologically diverse ecosystem of Southeast Asia…
Another three months have passed in 2017 and that means another Build-To-Order (BTO) launch is just around the corner.
Scheduled for launch in May 2017, Singapore families looking to own or upgrade to a new HDB flat will have a choice of 4 different locations to choose from.
Here’s an early peek into the different locations and flat types you can expect for the upcoming launch.
North-Siders Delight
If you happen to be looking for a flat in the northern part of Singapore, this will be a BTO launch to look out for because there are two locations are on offer.
The increasingly busy and important estate of Woodlands and *hold your breath*…Yishun.
For those who prefer mature towns nearer to the city centre, there are also two locations on offer, Bidadari and Geylang.
Though it says Woodlands, the estate is actually nearer to Marsiling MRT station and situated right beside Marsiling Secondary School.
It’s going to be a huge estate with 1,250 units on offer across different types of HDB flats (from 2-room to 3Gen)
Our Analysis:
The map above may suggest that the MRT station is walking distance away but don’t let that fool you.
Unless you are someone who enjoys 20-minute walk under the sun each morning in your office attire, chances are that you would need to wait and take the feeder bus to Marsiling MRT station.
Location wise, it isn’t that great unless you happen to love the Marsiling/Woodlands area.
Cost wise, we don’t expect flats to be expensive and you can get a good deal as long as you are prepared to compromise on location.
# 2 Yishun – 750 Units, Location: Hard To Describe (2-Room, 3-Room, 4-Room, 5-Room)
CaptionPhoto: Credits
It’s hard for us to describe the location and we think even Yishunites themselves may not be familiar with the location.
Instead, we tried to get a screengrab from Google Street to help us describe the location.
Photo: Screengrab
Our Analysis:
As it is, Yishun is not exactly a preferred location in Singapore thanks to the never-ending jokes about it from the likes of Mothership and SGAG.
Unfortunately, the location on offer here fits what is called “ulu”, even within Yishun.
Expect at least a 15-minute daily commute by bus to Yishun MRT station and Northpoint Shopping Centre.
Aside from Northview Primary School, there isn’t really any other school nearby. For the time being, amenities are also lacking.
There is no other way for us to put it if we want to be honest. You really have to enjoy staying in Yishun for the location to appeal to you.
# 3 Bidadari – 1,340 Units, Location: Near Maris Stella High School (2-Room, 3-Room, 4-Room, 5-Room. 3Gen)
Photo: Housing & Development Board
Though it’s parked under Toa Payoh, the estate is actually walking distance from Woodleigh MRT and not at all near to Toa Payoh.
It’s near schools such as Maris Stella High, Cedar Primary and Cedar Girls’ Secondary School.
Our Analysis:
There is no mega mall nearby but being walking distance away from Woodleigh MRT is the main sell here, along with its relatively centralised location.
We expect demand for the BTO to be high, especially among second-timers who are looking to upgrade to a bigger flat in a more central location.
# 4 Geylang – 1,260 Units, Location: Beside Mountbatten Community Club
Photo: Housing & Development Board
Situated at about a 10 to 15 minutes walk away from Aljunied MRT and about 5 minutes walk away from Dakota MRT makes this BTO one of the rare gem that is walking distance away from two separate MRT lines. Nearby amenities include as well the famous Old Airport Hawker Centre.
Our Analysis:
This BTO launch has hit the jackpot as far as location goes.
Demand is going to be highly intense, especially among people staying in the east.
It’s near to the city and has many amenities.
The only question left to be answered is how much flats will cost and how oversubscribed it would be.
Different Flats For Various Needs
It’s easy to think that all HDB flats are built equal, which leads to comparison over which location is better than the other.
A better to way to think about it is how different BTO flats are built to cater to different needs.
A flat in a more central location will cost much more.
One that is further away from the city centre will cost less.
The lawyer representing actress Napapa “Patt” Tantrakul confirmed that the actress will meet the Narcotics Suppression Bureau (NSB) on Monday morning under the terms of a second summons to hear charges of conspiracy to launder money.
Lawyer Arkhom Khongsawat said on Sunday that he and Napapa would meet investigators at the NSB head office in Bangkok.
As it was expected that the actress would be interrogated after being notified of the charges, and that police would apply for the first detention period at a criminal court, Bt500,000 (S$20263) in cash had been prepared to apply for her release on bail, the lawyer said.
The summons was issued after the investigators discovered that the actress possessed some of the money that her husband – motorbike star Akarakit “Benz Racing” Worarojcharoendet – received from a network led by alleged Lao drug kingpin Xaysana Keopimpa, a police source said.
Akarakit allegedly received money from Natthapol Nakkham, a suspect connected to Xaysana’s network who has already been arrested, and transferred about Bt1.9 million to Napapa.
ATHUM THANI, THAILAND – In a scene straight out of a television drama, a woman driving a brand new Toyota Fortuner chased a Mercedes Benz carrying her husband and his mistress to confront them.
She ended up crashing into four vehicles in Pathum Thani’s Thanyaburi district, causing six slight injuries on Saturday (May 13) afternoon.
The pile-up occurred at 4.30pm on the Rangsit-Nakhon Nayok Road in Tambon Bung Yitow, causing a severe 4km-long traffic jam before the scene was cleared.
The initial police probe found that the woman had traced her husband using GPS, caught up with his white Mercedes Benz at Sawai Pracharat Road and then decided to crash her vehicle into his to stop him from getting away.
President Xi Jinping pledged on Sunday to boost financial support for the ambitious Belt and Road Initiative amid China’s substantial efforts to transfer the visionary initiative into practical projects.
China will contribute an additional 100 billion yuan (S$20.1 billion) to the Silk Road Fund, Xi said in his keynote speech at the opening ceremony of the two-day Belt and Road Forum for International Cooperation in Beijing.
The Silk Road Fund, founded in November 2014 with the country’s initial contribution of $40 billion (S$56.1 billion), aims to boost infrastructure and improve financial co-operation along the centuries-old Silk Road trading routes.
“The China Development Bank and the Export-Import Bank of China will set up special lending plans respectively worth 250 billion yuan and 130 billion yuan to support Belt and Road co-operation on infrastructure, industrial capacity and financing,” Xi told more than 1,500 people in the audience at the China National Convention Center in Beijing Olympic Park.
The forum is the highest-level meeting on the Belt and Road Initiative since it was put forward by Xi in 2013.
Twenty-nine foreign heads of state and government leaders are attending the forum. Other delegates include officials, entrepreneurs and journalists from over 130 countries.
Russian President Vladimir Putin, Turkish President Recep Tayyip Erdogan and United Nations Secretary-General Antonio Guterres also spoke at the ceremony.
During the forum, China will sign business and trade co-operation agreements with over 30 countries and enter into consultation on free trade agreements with relevant countries.
In his speech, Xi announced China would provide assistance worth 60 billion yuan in the coming three years to developing countries and global organisations participating in the Belt and Road Initiative to launch more projects to improve people’s well-being.
The president also unveiled a number of other substantial aid and assistance programs, such as food aid worth 2 billion yuan to developing countries participating in the initiative, 100 “happy home” projects, 100 poverty alleviation projects and 100 healthcare and rehabilitation projects, also among countries taking part in the initiative.
“In pursuing the Belt and Road Initiative, we should focus on the fundamental issue of development, release the growth potential of various countries and achieve economic integration and interconnected development and deliver benefits to all,” Xi said.
The Belt and Road Initiative, consisting of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, was proposed by Xi to boost interconnectivity and free trade between Asia and the rest of the world.
The trade volume between China and other Belt and Road countries from 2014 to 2016 exceeded $3 trillion, and China’s investment in these countries has surpassed $50 billion.
Stressing infrastructure connectivity, Xi called for promoting land, maritime, air and cyberspace connectivity, focusing on key passageways, cities and projects and connecting networks of highways, railways and seaports.
