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5-6 PROPHECY AND ANALYSIS – Will the Soros prophecy panic the Mumbai and Shanghai markets? THAKSIN POWER – Will incoming Prime Minister Samak Sundaravej really be running Thailand at all? Expiry Date: / THE REGION Signature: 7 SUB-PRIME FALLOUT – S&P says a’triple-whammy’ is coming for Asian banks; Asia is our Moody’s says Asian central bankers are fence-sitting on rates; The Economist business Intelligence Unit believes emerging markets will offset an OECD credit crunch. INTERNATIONAL ONLINE
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Leighton AD Asia & The Gulf.indd 1 29/1/08 9:30:39 AM OPINION CHINA, INDIA HOLD ECONOMIC KEY
Indeed, even if the ultimate Democrat or Republican candidates for the White House OF become born-again protectionists, there is lit- tle reason to believe their new-found faith would carry into the Presidency. And, even if PROPHECY it did, that the impact on the world economy would be as big as Soros suggests. AND China and India both continue to post phe- nomenal growth rates. More importantly, their growth rates now result from two factors that ANALYSIS have become more important than their trade with the US or Europe. From the pages of ASIA TODAY INTERNATIONAL The first of these is domestic consumption. FEBRUARY 1988 – Japan ‘recycles’ US$20 billion Indeed, part of the US economy’s woes have in aid for foreign projects; Philippines curbs soft IS THE WORLD returning to been created by record oil prices – which loans for industry; Indo-China a growing market for pushed past US$100 a barrel precisely agricultural consultants; Gold lures more miners to an equilibrium of 200 years because India and China’s huge energy the Philippines. ago, when China and India demands are placing considerable pressure FEBRUARY 1993 – Leighton CEO Wal King says the Australian Government is doing too little to help drove the global economy . . . on supply. Australian companies seeking business in Asia; Secondly, Soros, and other world economy Volume of infrastructure projects poised to acceler- doomsayers, have failed to take into account ate in Asia; China economic reforms create opportu- the growing importance of intra-regional nity for foreign professional firms. trade for both China and India. Both countries FEBRUARY 1998 – Asia’s economic crisis sees a ANALYSIS now conduct more trade with the rest of the reassessment of mining and infrastructure projects and a new focus on debt and cost-cutting as bank region than with either the US or Europe. credit goes on hold; Coherent cyber laws a key issue Alistair Nicholas* While a North American and Western for Malaysia’s Multimedia Corridor; Worse to come European slowdown would certainly impact as Indonesia’s rupiah collapses. “Prediction is very hard, especially about both nations, it is unlikely to drive them into FEBRUARY 2003 – Singapore seeks to position as the future.” – Niels Bohr, Danish physicist full-blown recession. Figures released on high-tech hub with 15-year, US$8.2 billion project and Nobel Prize winner. known as ‘one north’; Consumers drive Asia intra- January 24 show that China grew by 11.4 per regional growth, with Asia, ex-Japan, tipped for 6% cent in 2007, marking 13 straight years of growth in 2003; China plans tax breaks for high-tech BEIJING – With many pundits fore- double-digit growth. The Central Government R&D; India stumbles, IMF sees risks; Philippines casting a bleak year ahead for the world econ- in Beijing has been struggling to slow growth window to 2008 to bring deficit under control. omy, off the back of the US sub-prime housing for several years, and a slowdown of Western FEBRUARY 2007 – Chinese manufacturers chal- market collapse and consequent downturn of economies may now assist it in bringing eco- lenging Korea in virtually every industry; Capital con- trols spook Thai investors; US housing slump could stock markets – from New York to London to nomic growth to manageable levels. trigger recession; Surprise economic leap for India; Tokyo to Shanghai to Sydney – is there any While India is less desirous of slower Infrastructure gap hits Australian manufacturers. silver lining to the economic doom and gloom? growth, it, too, is unlikely to take a major blow With the news getting more dismal day-by- from the West’s woes. India is experiencing day so early in the New Year, it would appear growth of nine per cent, and is forecast to sur- not. Some, including finance wiz George pass Britain’s economy in a few years. Soros, have even ventured that the worst global Rather than either of these economies recession in 60 years has already commenced. being massively affected by economic poli- Soros’ view is the most interesting. cies of the US or EU countries, we are proba- Because, while he accepts that domestic con- bly returning to an economic equilibrium of sumption in key emerging markets – primarily 200 years ago, when India and China drove India and China – could help stave off a world- the world economy. Back then, European and wide recession, Soros has muted concerns American powers dispatched envoys and that the rebalancing of the international eco- warships to pressure these two to open their PEOPLE doors to foreign trade. It is presumptuous to think the US can now c The Soros prophecy afford protectionist policies when hit by an POWER, economic downturn. More likely, US (and could set panic into the European) trade representatives will be call- Mumbai and Shanghai ing on Beijing and New Delhi with their caps THAKSIN firmly in hand for trade concessions from the markets d world’s rising economic stars. The only fear now is whether Soros’ vain POWER glorious prediction could itself plunge the nomic power could lead to political tensions world into “economic recession or worse”. that would “plunge the world into recession or Sometimes, the world would be better off if worse”. seers kept their prophecies to themselves. But WILL incoming Prime Minister Soros makes his remarks in an Op-Ed, pub- now that George Soros has put his moniker to Samak Sundaravej really be lished by the Financial Times of January 23. such a dismal prediction, it could set panic Soros’ thesis is that a recession impacting into the Mumbai and Shanghai markets. running Thailand at all . . . the West, particularly the US, could see a If that were to transpire, no-one is resurgence of protectionist trade policies that equipped to predict the outcome. could severely impact the global economy with a prolonged recession. Scary stuff. * Alistair Nicholas is a former Australian PERSPECTIVE Unfortunately, Soros did not elaborate after Trade Commissioner and advisor to the dropping this bombshell. Liberal Party of Australia. He currently heads Robert Horn* The US Presidential election notwithstand- his own public relations agency, AC Capital ing, there is little reason to presume a reces- Strategic Public Relations, based in Beijing. BANGKOK – As January drew to a sion hitting the US and other Western nations close, Samak Sundaravej finally achieved his I would result in recidivist protectionism. US sub-prime fallout, page 7. CONTINUED PAGE 6
ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 | 5 ISSN 1445-4300 OPINION
FROM PAGE 6 ® lifelong ambition of becoming Prime Minister insipid in comparison of Thailand. His People Power Party had won with other economies in the most seats during national elections on the region, such as December 23 – the first since a military coup China and Vietnam. The ousted the former Prime Minister, Thaksin Bank of Thailand has Shinawatra, in September 2006. Now, the 72- been struggling to keep year-old Samak, with Thaksin's help behind the national currency, the scenes, has drawn five other political par- the baht, steady at ties into a Coalition government. about 33 to the dollar, INTERNATIONAL But even as he assumed the premiership, but pressure on it to fur- Samak was dogged by questions over ther appreciate is Samak whether or not he is the right man to run mounting. Sundaravej – Volume 26, No. 1, Thailand at this critical and complex juncture Some analysts, such declared him- February/March 2008 – or whether he will really be running as Supavud Sai-cheau, self Thaksin’s email: [email protected] Thailand at all. of Phatra Securities in nominee www.asiatodayinternational.com Samak has declared himself Thaksin's Bangkok, believe the nominee, and, in late January, dozens of central bank should allow the baht to rise PUBLISHER People Power Party members flew to Hong freely. That, in turn, would make oil imports Barry Pearton Kong, where Thaksin lives in self-imposed more affordable, and allow the bank to cut exile rather than return to fight corruption interest rates to spur domestic consumption – EDITOR charges in court. The party members were in which has been sluggish ever since political Florence Chong Hong Kong to lobby for Cabinet posts. problems began plaguing Thailand late 2005. CHIEF CORRESPONDENT Stung by suggestions that he isn't the man But it is exports, not consumption, that has Philip Bowring in charge of Thailand, Samak reportedly made been the chief driver of the Thai economy, last-minute changes to the Cabinet lineup and upon which most industries depend. CORRESPONDENTS Hong Kong – K.K. Chadha, James Yapp, India – N. drawn up by Thaksin, before submitting it to Federation of Thai Industries Chairman, Hariharan, Rajendra Bajpai; Japan – Russell McCulloch; constitutional monarch, King Bhumibol Santi Vilassakdanont, is urging an interest Korea – Peter Sylvestre; Malaysia – Zari Bukhari; Adulyadej, for formal approval. When this rate cut as part of a 13-point economic action Pakistan – Raja Ashgar; Philippines – Abby Tan; issue went to press, approval had not yet plan he wants the new Government to adopt. Singapore – Andrew Symon; Thailand – Robert Horn; come, so no names were formally announced. Among those 13 points is a call for the cen- Taiwan – Michael Taylor. "Thailand is facing difficult and complicated tral bank to retain the capital controls that ADVERTISING times both politically and economically,'' says sent the stock market plunging in late 2006. AUSTRALIA – ASIA TODAY INTERNATIONAL, Level 29 Panitan Wattanayagorn, a political scientist at The market recovered as the controls were Chifley Tower, 2 Chifley Square, Sydney NSW 2000, Chulalongkorn University in Bangkok. eased slightly, but Santi and others are still tel (61 2) 9970-6477, fax (61 2) 9913-2003, email [email protected] "Samak is already facing legitimacy questions concerned about currency speculators and because he's Thaksin's nominee. If he and his inflows of hot money the controls were ASIA – Herb Moskowitz, Regional Advertising Manager, The Media Representative Company, 39th Floor intended to discourage. Exchange Square One, 8 Connaught Place, Central, Other points in the plan are – keeping the Hong Kong, tel (852) 2838-8702, fax (852) 2572-5468, email [email protected] c Thailand is facing Value Added Tax at seven per cent, with no increase; cutting the corporate income tax PUBLISHER’S REPRESENTATIVES difficult and complicated rate from 30 per cent to 25 per cent; increased USA/CANADA tax deductions for businesses for hedging InterMark3 International Communications, Inc. times, both politically 5929 Albervan Street, Shawnee, KS 66216 USA. currency risks; a progressive tax rate for mid- Tel (91 3) 248-7770, Fax (91 3) 248-7771 and economically. dle and low income earners; soft loans for Contact: Fred Baehner, industries using 75 per cent local content; a email: [email protected] Samak is already facing broadening of the tax payer base; accelera- EUROPE tion of infrastructure mega-projects, such as LIVEpr, 4th Floor, 124 Victoria Street, London legitimacy questions SW1E 5LA United Kingdom. Tel (44 (0)20) 7630-1100, mass transit rail lines; using two per cent of Fax (44 (0)870) 121-5572, email [email protected] because he is the Government budget for research and Contact: Ross Clarke, David Wallen. Thaksin’s nominee d development; a corporate income tax cut for Office Manager: Khin Htwe Spaliviero businesses using 75 per cent local content; Production: Lana Roach speeding feasibility studies for constitution of Cabinet aren't up to the job of solving the a nuclear power plant; and reform of the legal political and economic problems, those ques- system. tions about legitimacy will only intensify.'' It's a massive wish list, and it remains The post of chief concern is that of Finance unclear whether or not the new Government Minister. Several prominent bankers, econo- will be receptive to the suggestions. mists and former Finance Ministers have Outgoing Finance Minister, Chalongphob been offered the position, but turned it down. Sussangkarn, has urged Samak and the Samak is still hoping that former Finance People Power Party not to focus on short-term DAILY ONLINE UPDATES – and, for subscribers, a Minister, Virabongse Ramakura, will ultimately populist policies to win support, as they could weekly email summary of items you may have accept, but the fallback candidate is People inflict long-term damage on the economic missed. Visit www.asiatodayinternational.com or Power Party Secretary-General, Surapong stability of Thialand. for further details of online benefits available to subscribers, email [email protected] Suebwonglee, a medical doctor by training. But the People Power Party was elected on That has failed to inspire confidence in the precisely that platform of delivering funds, business community, especially considering loans and debt relief to the rural poor. COPYRIGHT© All material in ASIA TODAY INTERNATIONAL Thailand's shaky economic prospects this So whoever Samak chooses as his econom- is copyright. Reproduction in whole or in part is not permit- coming year. ic czar will find it easier to meet all 13 sugges- ted without written permission of the publisher. Rising oil prices, a strengthening currency tions from the Federation of Thai Industries, that threatens export growth, recession in a than to heed the one word of caution key market, the United States, and inflation from Chalongphob. Member of Circulations Audit Board risks are all problems facing Thailand in 2008. Average nett circulation, 9,065 copies per At best, most economists are predicting * Robert Horn is Bangkok correspondent issue (six months to September 2007) five per cent growth this year, which is for ATI Magazine.
6 | ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 THE REGION SUB-PRIME FALLOUT CONTINUES ‘Triple-whammy’ coming for Asian banks: S&P HONG KONG — Asian banks face a "triple-whammy" as fallout from the US sub- prime mortgage crisis continues to wash up The anticipated economic slowdown in Asia threaten export performance. around the world, according to ratings agency in 2008 will come from a slowdown in exports Bank Negara Malaysia looks set to maintain Standard & Poor's. growth, a key factor in the economic strength its neutral stance, with the Malaysian economy S&P says Asian banks will incur losses from of the region. S&P says that banks in Pakistan, in a very well-balanced state. direct exposure to structured securities backed Korea, the Philippines and Thailand are rela- Moody’s says the Reserve Bank of India looks by or linked to US sub-prime mortgages. tively more vulnerable to a global trade slow- set to leave interest rates unchanged in the Their liquidity and revenue will suffer due to down because of their closer depend- near term. “In fact, given that inflation has linkages between local and global markets and, ence on their economies. cooled, a loosening cycle may commence thirdly, the agency says, banks will feel the www.standardandpoors.com/ratingsdirect towards the end of the year, which will help to impact on business or local portfolio quality support economic growth amid weakening due to economic linkages to the global system. external demand. On the other hand, China will S&P says that, while Asian banks' direct Inflation the core certainly maintain a tightening bias due to exposure to the US sub-prime mortgages is concerns about an overheating economy and limited, a handful of institutions have "relative- issue for Australia heightened inflation, which has reportedly dis- ly significant exposures". These include Bank MELBOURNE – The key risk for the rupted social stability. Interest rate hikes look of China (China), Mega International set to continue, with the PBC also likely to con- Commercial Bank (Taiwan) and DBS Bank Australian economy in the present global cred- it crunch is domestic inflation, says ANZ Bank. tinue tightening reserve requirements, to con- (Singapore). trol lending activity.” And while Asian banks have been able to With the economy booming, it is becoming increasingly difficult to escape the conclusion Heightened concerns about inflation will absorb the initial waves of revaluation of US allow Taiwan’s Central Bank to continue its sub-prime exposure, there remains a risk of fur- that Australia’s Reserve Bank has fallen ‘behind the curve’ on inflation, the bank says. monetary tightening cycle, says Moody’s. ther write-downs should global market senti- The Bank of Korea in January opted to leave ment toward such securities and underlying “Core inflation is already sitting at the top of the Bank’s 2-3 per cent target band, and is like- interest rates unchanged. “Amid rising exter- sub-prime mortgage performance worsen. nal and domestic uncertainties, the central According to S&P, the vast majority of Asian ly to have breached it in the final quarter. The outlook doesn’t look pretty, either, with price bank appears to have no choice but to sit pat or banks which it rates have negligible exposure. to risk derailing healthy economic However, there is a second group with expo- pressures evident across a number of house- hold staples, including food, petrol, rents and growth,” the ratings agency adds. sure considered to be "somewhat significant www.Moody's Economy.com but manageable". This group includes a small utilities. RBA interest rate deliberations in the number of Taiwanese financial institutions. year ahead are going to have to balance the "We currently anticipate the losses from such threat associated with slower growth in the US Emerging markets investments will not materially damage each and global economies with the reality of ram- individual entity financial profile," S&P says. It pant inflation. For an inflation-targetting cen- to offset OECD includes Mega Bank and DBS in this group. tral bank, that’s a no-brainer”. But the agency does identify a third group, www.anzeconomics.com credit crunch: EIU which includes Bank of China, saying that it is significantly exposed. "These entities will bear Central bankers LONDON – The credit crunch in several market-to-market and/or credit losses on their key markets, coupled with housing market exposures, but their existing capitalisation and ‘fence-sitting’ woes, will result in a sharp slowdown in OECD profitability will help them cushion any adverse economic growth in 2008, according to the financial impact with minimal or no change in on rates: Moody’s Economist Intelligence Unit. their ratings or outlooks." But the impact of this developed world The agency says even banks that may not HONG KONG – Most central banks in weakening on the global economy will be part- hold structured securities, but are dependent Asia have chosen to sit on the fence to better ly offset by continued robust growth in many on wholesale funding from the global debt mar- assess their economic conditions and outlook, emerging market countries, the EIU says. kets, especially short-term funding, will be vul- says ratings agency Moody’s. Its new report, “2008: country by country”, nerable to liquidity pressure. "To some extent, The biggest challenge facing central banks predicts that the world’s two largest developed the dichotomy between global and local in 2008 is to sustain economic growth while economies, the US and Japan, will be among domestic currency credit markets has cush- curbing inflation, it says. the 10 slowest-growing countries in 2008. But ioned Asian banks from the full brunt of the late Assessing emerging economies, Moody’s four emerging market economies, including 2007 credit spread repricing." says Bank Indonesia has decided to keep inter- China, will grow at double digit pace. S&P notes that banks in Indonesia and the est rates unchanged rather than resume its Continued robust economic growth will, Philippines, which have relied on foreign cur- monetary easing cycle. “Given that investment however, will be accompanied by an unusually rency borrowings — more than their counter- growth is crucial to Indonesia’s economic high level of political and economic risk during parts in other Asian countries — could have expansion, Government authorities will be 2008. Downside threats include a further some difficulties in raising funds from the glob- keen to see interest rates continue to fall.” increase in the severity of global financial-mar- al capital market. The linkages between global For the same reason, Bank of Thailand chose ket woes; strong inflationary pressures arising and domestic equities market will also adversely to sit tight (in December), but Moody’s says fur- from higher food and oil prices; a sharper-than- affect the earnings of Asian banks. ther rate cuts cannot be completely ruled out as expected slowdown in world trade growth; and It says eventual losses will vary across the the central bank may need to use monetary pol- geopolitical risks, including continued worries markets, depending on the proportion of portfo- icy tools to stimulate consumption and invest- about Iran's nuclear ambitions, ongoing ten- lio linked to property, the effectiveness of the ment, depending on how the political situation sions in the Middle East and political instabili- bank's risk management systems, and length unfolds. Meanwhile, the Philippines has ty in a number of key countries. and extent of property market slumps. In this entered a ‘loosening’ cycle because it is keen The full report is available for US$555 instance, banks in China, Singapore and India to preserve growth amid the uncertain global at www.store.eiu.com. are relatively more susceptible. outlook and a rising peso, which continues to
ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 | 7 MEETING ALTERNATIVE ENERGY NEEDS THE REGION
China agencies sign up on Australian AUSTRALIA ‘hot rock’ knowhow IN ASIA ADELAIDE – Four Chinese Government agencies have signed an exclusive agreement with Australian hot rock proponent, Petratherm Limited, to identify high prospect geothermal INDIA ADOPTING HYDROGEN-GAS BLEND energy projects in China. ASX-listed Petratherm will help identify proj- PERTH – A decision by the Indian very near term because of a campaign by many ects best able to exploit China’s vast geother- Government to have a fifth of the country’s Indian states to rush the roll-out of gas distribu- mal resources for base-load, large-scale and vehicles running by 2020 on new, lower emis- tion networks able to service fuel-blend emission-free sources of heat and electricity. sion hydrogen-gas fuel blends, has been wel- demand.” The Government decision to target The agreement is the first commercial step- comed by an Australian company at the fore- having all natural gas-powered vehicles run- up for Petratherm’s entry into the world’s front of developing and marketing such fuels. ning on a mixture of hydrogen and natural gas largest-growing energy market since the ASX-listed Eden Energy says the decision is within 12 years is expected to impact one mil- Australian hot rock company achieved a significant boost to it’s first-mover advantage lion vehicles, 20 per cent of the market. approval, under the Federal Government’s Asia in establishing a competitive foothold in alter- Eden’s drive into India’s alternative energy Pacific Partnership Programme, to undertake a native low-emission fuel supplies for India’s markets has already seen the Perth-based com- unique renewable energy initiative in China. transport and power generation markets. pany secure agreement with the major Indian Petratherm will work on a co-operative proj- “We have been actively and successfully pro- engine manufacturer, Ashok Leyland; Gujarat ect over the next 12 months with four Chinese moting, marketing and trialling Eden’s State Petroleum, one of India’s largest State- Government institutions – the China Hythane® fuel, a blend of hydrogen and owned natural gas producers and retailers; and Geothermal Energy Society; the Chinese methane gas, in India for two years now,” says the world-ranked Larsen & Toubro, the largest Geological Survey; the Chinese Academy of Eden’s Executive Chairman, Greg Solomon. He engineering group in India. The agreement Sciences; and the China Institute of Geo- adds that India is expected to lead world con- with L & T covers the manufacture and market- Environment Monitoring. version rates in the next 10-12 years to alterna- ing throughout India of Eden’s entire range of Petratherm’s Managing Director, Terry Kallis, tive fuels, particularly hydrogen-based blends. hydrogen and Hythane® technologies. describes the project as a major opportunity for “The Government’s decision sends a clear The Ashok Leyland partnership is a 10-year Australian geothermal know-how to ultimately signal that India’s energy economy will become agreement to develop Hythane® versions of make a substantial contribution to global green- increasingly hydrogen-focussed”, Solomon Ashok’s natural gas bus engines (Ashok cur- house gas abatement. “Significantly, the intel- says. “That can be expected to precipitate a rently manufactures more than 11,000 buses lectual property generated by the project will be rush for fuel technologies able to service public yearly and provides the major share of all metro- jointly owned by Petratherm and the four transport needs and both back-up and base-load politan State transport buses in India). Chinese agencies,” he says. “We also retain the power generation requirements. The agreement with Gujarat State Petroleum right to bring in joint venture partners, as and “The pace at which these technologies and Corporation provides for joint demonstration when required, to develop those geothermal fuel blends is introduced will burgeon in the and promotion of Hythane® as a vehicle fuel. projects we identify over the next year as exhibiting the earliest commercial opportunity. Kallis says China boasts more than 40 record- CBA Branch for lish a Branch in China’s financial capital. “In ed geothermal sites, some with the potential to particular, it will assist customers who are ben- produce around 1400 megawatts of power. HCMC in April efitting from China’s demand for Australia’s www.petratherm.com.au/ resources and New Zealand’s agricultural prod- SYDNEY – Commonwealth Bank of ucts,” he said. Australia has won approval from the State Bank Nanjing base for of Vietnam to open a branch in Ho Chi Minh ANL, USL realign global sales of City, the bank’s first in Vietnam. Garry Mackrell, Commonwealth Bank Group three trade-lanes Vmoto scooters Executive, International Financial Services, said that, with some 300,000 Vietnamese peo- MELBOURNE – U.S. Lines (USL) and PERTH – An Australian company has ple living in Australia – one of the largest pop- ANL have made a major realignment of their begun construction in Nanjing, China, of an ulations outside Vietnam itself – and more service structure in three key tradelanes. advanced scooter assembly plant, targetting Australian visiting Vietnam every year, the USL & ANL’s joint service will turn its ships annual revenue of more than AUD100 million by new presence represents a strong opportunity Northbound from Australia and New Zealand. 2011 for ASX-listed Vmoto Limited. for the Bank. "Vietnam continues to be an They will no longer operate the present Stage 1 of the 10,000 sq m plant is expected important economic partner to Australia,” he Triangle Service around the Pacific Rim, but to be operational by mid-year. Stages 2 and 3, said. The Branch is expected to open in April. instead will initiate a dedicated North/South will provide capacity for 200,000 scooter and service from Oakland/Los Angeles to/from engine units annually for export to Vmoto’s Westpac Branch Australia/New Zealand. John Lines, Managing global client base in more than 100 countries. Director of ANL, says the initiative will signifi- Vmoto’s Managing Director, Patrick Davin, open in Shanghai cantly improve Northbound transit times from says Vmoto is one of the few independent for- Australia, and will, for the first time, offer a eign-owned enterprises given approval to SHANGHAI – Australia’s Westpac competitive alternative to exporters from New establish and operate such facilities in China. Banking Corporation has opened a Branch in Zealand to the US West Coast. Pre-orders account for the entire 15,000 scooter Shanghai following approval from the China USL & ANL will transfer their Transpacific run in the Nanjing plant’s maiden start-up peri- Banking Regulatory Commission. Westpac has volumes aboard CMA-CGM’s Pearl River od. Vmoto earlier acquired the Shanghai-based had a permanent presence in China since 1982 Express service effective mid-February, with a Freedomotor Company Limited, one of China’s through its representative office in Beijing. 12-day transit from South China to LA. The largest independent distributors and exporters Westpac General Manager, Asia, Yogan Pearl River Express provides weekly fixed day of scooters, motorcycles, ATVs and hi-perform- Rasanayakam, said that, given the deep trad- sailings from Xiamen, Chiwan, Hong Kong, ance off-road karts. Freedomotor has distribu- ing links between China, Australia and New and Yantian, direct to Los Angeles and tion rights in more than 50 countries. Zealand, it made good business sense to estab- Oakland.
8 | ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 Step in ZERO - it’s the way of the future International professional services company, GHD, recently showcased what can be achieved in an FOFSHZBOESFTPVSDFFGÙDJFOUCVJMEJOH
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Asia Today Ad_1007.indd 1 5/10/2007 3:15:53 PM receive 400,000-tonne ships. Vinalines will also BUSINESS ACTION break ground for construction of three wharfs at Cai Lan port in northern Quang Ninh province to receive 40,000 DWT ships, and five new THE MONTH IN REVIEW wharfs for 20,000 DWT ships at Dinh Vu port in Hai Phong. The information ty at banks and curb overly fast credit growth. CHINA PLANS SECOND heartbeat of Asia Excess liquidity is a major challenge for the WEST-EAST GAS PIPELINE Government as it could result in bubbles and SHENZHEN – China has laid out a primary economic overheating. ASIA PULSE is a joint plan for its second pipeline of the West-East venture involving the natural gas transmission project. Construction resources of (AAP) – Australian HONG KONG FOLLOWS U.S., of the 8,794 km gas pipeline will consist of one Associated Press Pty Ltd CUTS BASE INTEREST RATE major line and eight sub-lines and involve (Australia); (ANTARA) – LKBN HONG KONG – The Hong Kong Monetary investment of some 143.5 billion yuan (US$19.8 ANTARA (Indonesia); (CNA) – Authority, the de facto central bank, on January billion). The pipeline will carry natural gas from Central News Agency (Taiwan); 23 lowered its Base Rate by 75 basis points to central Asian countries and Xinjiang to the eco- (DPM) – DubaiPhotoMedia (Dubai); 5% with immediate effect, according to a pre- nomically-prosperous but energy-thirsty eastern (IRNA) – Islamic Republic News set formula. The reduction followed the 75 basis and southern China areas, including Shanghai Agency (Iran); (Nikkei) – Nihon points cut in the US Federal funds target rate and Guangdong Province. Construction will Keizai Shimbun Inc (Japan); (ONA) overnight, the Monetary Authority said. The begin this year and the pipeline is expected to – Oman News Agency (Oman); Base Rate in Hong Kong is the interest rate go into operation in 2010. (Pacnews) – Pacific Islands News forming the foundation upon which the Association; (Pajhwok) – Pajhwok Discount Rates for repurchase-agreement CHINA'S INCOME FROM TOURISM Afghan News (Afghanistan); transactions through the Discount Window are TOPS US$150 BILLION computed. (PNA) – Philippines News Agency BEIJING – China's income from tourism (Philippines); (PPI) – Pakistan topped 1.09 trillion yuan (US$150 billion) in Press International (Pakistan); KOREA WOORI BANK SETS UP 2007, and is expected to reach 1.2 trillion yuan (PTI) – The Press Trust of India Ltd SUBSIDIARY IN RUSSIA in 2008, said Shao Qiwei, Director of the China (India); (TCA) – Times of Central SEOUL – Woori Bank (KSE:000030), South National Tourism Administration (CNTA). Shao Asia (Central Asia); (UNB) – United Korea's No. 2 lender by assets, has set up a said China received 132 million tourists from News of Bangladesh (Bangladesh); wholly-owned subsidiary in Russia to help overseas in 2007, up 5.5% year-on-year, of (UzReport) – UzReport.com expand its overseas network. Woori Bank, the which 54.72 million spent at least a night in (Uzbekistan); (VNA) – Vietnam flagship unit of Woori Finance Holdings China, up 9.6%, to earn China US$41.9 billion, News Agency (Vietnam); (XIC) – (KSE:053000), launched Zao Woori Bank in up 23.5%. China retained its status as the Xinhua Information Centre Moscow on January 9, becoming the first South world's fourth-largest destination for foreign (China); (Yonhap) – Yonhap News Korean lender to set up a subsidiary in Russia. tourists in 2007. Agency (Korea); and sources in The Russian unit is part of plans by Woori to Malaysia and Singapore. expand its global network. It aims at opening CHINA-ASEAN TRADE 200 branches around the world. HITS US$200 BILLION INDONESIA TO BOOST BEIJING – Trade volume between China and SHARIA ECONOMY U.S. FUND COMPLETES TENDER the Association of Southeast Asian Nations JAKARTA – The President of Indonesia, Susilo OFFER FOR SHINSEI BANK (ASEAN) hit US$202.6 billion in 2007, up 25.9% Bambang Yudhoyono, said the Government will TOKYO – US fund J.C. Flowers & Co. has com- year-on-year, the China-ASEAN Business include sharia economy in the national agenda pleted a tender offer for 22.7% of the Shinsei Council said. The two sides originally expected this year to boost development. Yudhoyono Bank (TSE:8303), making it the Japanese bank's trade volume to reach the US$200 billion mark pledged that the Government will remove legal top shareholder. J.C. Flowers will add the 22.7% in 2010. China-ASEAN trade volume first sur- restrictions hampering development of the stake to its existing interest, replacing the passed US$100 billion in 2005. sharia economy. He said he was optimistic the Government-run Resolution and Collection target for the sharia banking industry set by Corp. as the bank's largest investor. In addition, CHINA TO START HIGH-SPEED Bank Indonesia could be achieved. He asked the fund plans to buy 50 billion yen (US$467 mil- BEIJING-SHANGHAI RAIL lion) of new shares to be issued in February by the Ministries of Justice, Finance and Religious BEIJING – Construction of the high-speed rail- Affairs to speed up preparation of a draft law on the bank. As a result of that, the fund's owner- way between Beijing and financial hub sharia State securities. ship will increase to 32.6 per cent. Shanghai – a five-year project, was to begin on January 18. The Ministry of Railways will con- CHINA’S CENTRAL BANK VIETNAM TO BUILD MAJOR tribute 78.9% of the total investment, estimated RAISES RESERVE RATIO SEAPORTS IN 2008 at 160 billion yuan (US$22 billion), while the BEIJING – China's central bank raised the HANOI – Vietnam National Shipping Lines remaining 21.1 per cent will come from other required reserve ratio for commercial banks by (Vinalines) plans to carry out several major proj- investors. China hopes to run the China Railway half a percentage point as of January 25. The ects at seaports in 2008. Construction of the High-speed (CRH) train, with a speed of 350 km ratio went to 15 per cent, the highest since Van Phong international transit seaport, in the per hour, on the new railway. On completion in 1984. This increase, the first this year, comes a central province of Khanh Hoa, and the Lach 2013, the high-speed railway will cut travel time month after the ratio was raised by a percent- Huyen deep water port, in the northern city of between the Chinese capital and its largest age point on December 25. The People's Bank of Hai Phong, will start in the first quarter of this economic hub from the current 10 hours to China said the adjustment, part of its stringent year. Van Phong port will have capacity to han- about five hours, and double existing transport monetary policy, is to draw back excess liquidi- dle 300 million tonnes of goods per year and capacity of 160 million passengers annually.
© Asia Pulse Pte Ltd. Contact: Asia Pulse Production Centre Each day Asia Pulse creates up to 300 items of news, business opportunities, Phone: (612) 9322 8634 expert commentary and industry profiles covering over 30 countries and over 50 Fax: (612) 9322 8639 industries across Asia. Asia Pulse is a unique joint venture involving the resources http://www.asiapulse.com of Asia's major news and information groups. Email: [email protected]
10 | ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 PROFESSIONAL SERVICES ENGINEERING LEADS OFFSHORE MARKET PUSH
The Gudang Hitam coal mine at Sanga-Sanga, near Samarinda in East Kalimantan – Leighton International has a US$60 million contract over five years for overburden removal, coal mining, handling and delivery; (inset) Leighton CFO Scott Charlton. Gulf, Indonesia, India to lead Leighton’s growth
Leighton International, which covers the AUSTRALIAN civil engineering major, Leighton Holdings, has group's operations from Indonesia to India and relocated its Leighton International Head Office to Dubai, and the Middle East, has since relocated its corp- expects the Middle East to overtake Indonesia as its largest orate Head Office to Dubai. “The Middle East is likely to become our market outside Australia by end-2008. But Leighton’s Chief largest market outside Australia by the end of Financial Officer, Scott Charlton, is also bullish on Indonesia, this year,” says Scott Charlton, Leighton where subsidiary Thiess is heavily involved in mining and toll roads. Group's Chief Financial Officer. At the time of the Al Habtoor acquisition, And he says India – where Thiess-Leighton has formed a joint Charlton said it would boost Leighton's rev- venture – will be a major market over the medium-term . . . enue, in 2007/08, by AUD800 million, and he forecast that revenue for Al Habtoor-Leighton in the 2008-09 year would be more than AUD3.2 Leighton Group, which invested AUD870 mil- billion – up from AUD2.75 billion this year. lion to acquire a 45 per cent stake in the Gulf The Leighton Group itself expects to lift net engineering company, Al Habtoor, last Sept- profit by 30 per cent this financial year – up Florence Chong ember. The acquisition immediately delivered from last year's AUD450 million. The value of Editor, ATI Magazine some US$1 billion of work in hand, and posi- work in hand was at a record level of AUD24.5 tioned the Al Habtoor Leighton joint venture billion as of November last year. SYDNEY – The Middle East is poised to among the top three construction companies in Leighton entered the Gulf region just over become the largest offshore market for the the United Arab Emirates and Qatar. CONTINUED PAGE 122 FUNDING SHORTFALLS THE BIGGEST CHALLENGE FOR INFRASTRUCTURE
ENGINEERS have led the growth of The funding dilemma poses challenges for offered by individual governments seeking to Australian professional firms offshore since foreign contractors, who will need to consider tie up major infrastructure projects and 1997, when Asia’s economic downturn taking equity positions in, for example, toll- secure resource deposits. Beijing is pursuing caused them to look beyond Asia – to the roads, or seeking working capital guarantees a ‘China Inc’ approach to trade and invest- Middle East and even the US markets. from their own government credit agencies. ment in sub-Saharan Africa, and could steal a Asia has lagged in infrastructure develop- The recent example of a Hong Kong march in other countries. ment over the past decade, and now faces Government tender which provided no up- In this special report (pages 11-27), we funding shortfalls of up to US$200 billion front or progress payments over the 18-month examine the strategies of key players in infra- annually as it plays catch-up to meet the life of the contract is a case in point. structure development, and emerging needs of major new cities. There is also the spectre of soft loans being issues in the market . . .
ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 | 11 TAKING EQUITY IN INFRASTRUCTURE PROFESSIONAL SERVICES
FROM PAGE 11 two years ago, when it worked on the City of Group. The project, worth AUD1.5 billion, will smaller way – in the Philippines, says Charlton. Arabia development. It then won its first major involve development and 20-year operation of a The Group is working on a new mine there, project, the US$407 million Al Shaqab equestri- greenfield open-cut coal mine, with output to and, with the commodity boom and industriali- an project, in Doha, Qatar. be used for Abhijeet's steel plant and its sation, he sees mining markets like Vietnam Even though it had a small presence, planned mine-mouth power station project. also becoming more important. Leighton was approached to take on other Charlton says that, while Coal India (the nation- Leighton Asia, which looks after the Greater work. "We could not handle the work without al coal body), does not outsource mining, in China area, including South Korea, has tradi- additional capability," Charlton told ATI. time it could choose to go down this track to tionally focussed on Hong Kong and Southern He describes the tie-up with Al Habtoor as a improve delivery and lift mining capacity. China, particularly Macau. It has not made a big mutually-beneficial partnership. "We were look- "We hope that, in the next year or so, we will mark on the huge Chinese market. Charlton ing around to see how we break into this sector says one reason is the presence of large, well- could expand our operation, because we think long-term capitalised Chinese contractors, some bigger and Al Habtoor was looking contract mining has a great than Leighton itself. "They don't need capital, to take its company to the future in India. India has a and certainly don't need people," he says. next step." Charlton says the huge need for power.” Chinese authorities, through licensing, make partnership is a "fantastic fit" India also mines as much it difficult for foreigners to participate on their with the Gulf company, iron ore (150 million tonnes a own in an economical way, Charlton adds. "It is which focusses on building year) as coal, and, through its easier with joint ventures." Leighton partners and local contacts. Leighton acquisition of the Queens- with China State Construction for many proj- is bringing in its civil engi- land mining company, HWE, ects in Hong Kong and Macau. neering skills. The Group is Leighton has become the Now 55 per cent-owned by the German com- well-placed to look at other world's largest contract miner pany, Hochtief, Leighton has opened an office opportunities, including pub- for iron ore – as it is for coal. in Beijing to pursue work in the mining sector, lic-private partnership (PPP) While Indonesia has lost and in infrastructure work associated with projects in Abu Dhabi, the favour with many foreign mines. It sees opportunities in Mongolia and UAE capital, he says. investors in the past decade, Northern Inner Mongolia in these sectors. According to the UAE it remains Leighton's largest Leighton is also chasing work in Guam, Yearbook, Abu Dhabi (the offshore market, and does where it is bidding for a port. With Washington capital) has plans for more have, according to Charlton, planning to move the US military out of than US$120 billion in infra- good growth prospects. "We Okinawa to Guam, Charlton says Leighton structure projects over the Leighton operations at ABK have 30-40 per cent of the expects more work there. next four to five years. Loa Janan coal mine in East contract mining market in Acquisitions have played an important role in Leighton has also entered Kalimantan. Indonesia, including several the growth of the Group, and it continues to a joint venture in India with life-of-mine contracts,” he look for opportunities to acquire businesses in the Gulf firm, Emmar MGF, which paves the says. “Last year, we added an AUD600-million Hong Kong and Indonesia. Not, however, in way for greater participation in India's active contract for a new client, PT Wahana Baratama India, where Charlton says companies are building sector. India is another relatively new Mining." fully-priced. "If you look at our revenue today, market for Leighton, which went there initially Charlton is encouraged by the opening of the about 40 per cent is from companies we to build factories for multinational companies mining sector as Jakarta eases some restric- acquired. We can grow at a certain rate (but) we like Nokia. "India will be as big a market for us tions. "We are starting to see more exploration," need to make acquisitions to achieve a higher as Indonesia is over the medium time-frame – he says. But Indonesia has been disappointing growth rate over time. We continue to see good we are putting a lot of time into developing this in the infrastructure sector. Despite several false opportunities, (but) it is harder to acquire busi- market,” says Charlton. “India took off quicker starts, Indonesia is yet to seriously embark on nesses in some countries than in others." than the Middle East, but growth will be faster major infrastructure development. in the Middle East." In the past two years, Leighton has been Leighton wants to increase its exposure in negotiating on three toll roads there. It is more c If the returns are India's infrastructure sector. Charlton, a former comfortable with projects such as toll roads, and Head of Transport and Infrastructure, Asia ports, Charlton says. commensurate with the Pacific, with Deutsche Bank, says India's "The biggest issue for us is getting the risks, we are happy to National Highway Authority has developed Government to commit to land acquisition, and some good toll roads, and Leighton wants to get to reasonable commercial terms for concession contribute equity as part involved. It is constructing two toll roads in agreements, to ensure that we can get finance, of a winning strategy d India with local partner Oriental Structural he says.” We need to prove that, economically, Engineers (OSE). The Australian company has we can stack up the Government’s existing toll invested "small equity – a couple of hundred rates. We need to fund that debt and to find an Acquisitions can be especially difficult where million dollars" – in these projects. Charlton equity provider willing to participate." these are family-controlled businesses, Charlton says: "If the returns are commensurate with the "We will take equity positions in toll roads (in says. "We don't necessarily want full control, risks, we are happy to contribute equity as part Indonesia), as we would in other markets, but but we want equal say – and we don't want to of a winning strategy." Leighton is prepared to we share our risk with domestic and interna- be controlled by families.” invest in economic infrastructure projects in tional institutions. We find that, even in some of Australia remains a solid base for Leighton, Hong Kong, Indonesia, India and the the more difficult jurisdictions, like the with the ongoing global resources boom and Philippines. Philippines – or Indonesia – there are still peo- the shift to PPPs for large infrastructure projects, Leighton is doing some work – building near- ple prepared to participate in infrastructure. such as desalination plants and toll roads. Some shore pipelines – in India’s oil and gas sector. "As one of the few foreign contractors in of these projects are large, like the Sydney M4 More particularly, it has been looking at India's Indonesia, with a history of almost 30 years, we East toll road extension, estimated to cost mining sector in the past three years. "We hold feel comfortable in the Indonesian environment AUD3-AUD5 billion. This trend will continue out great promise for the mining sector. The if the Government finds the political will to into the foreseeable future. Indian Government has been changing the way make these (infrastructure projects) happen. We Provided India and China continue to grow, it hands out coal blocks, to allow private devel- believe we can find a way with our partners to Charlton says Leighton is “pretty optimistic” on opment around steel mills and power plants. make these things work." Even if Indonesia the outlook of the Australian economy. Coal in these blocks cannot be exported, but does slip from being the largest offshore market "We would like to see active involvement by can be used by the steel mill or power plant." (after the Middle East) for Leighton, Charlton the Rudd Government in areas such as industri- Leighton's subsidiary, Thiess Leighton India, says it will continue to be the second-largest al relations and interest rates to ensure that the signed a heads of agreement in November last market into the foreseeable future. economy continues to perform well," he year for its first mining project with the Abhijeet Mining has started to pick up – in a much says.
12 | ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 PROFESSIONAL SERVICES FUNDING THE FINANCIAL SHORTFALL Thiess Indonesia short-listed for three toll roads
JAKARTA – Thiess Indonesia is cur- On the Serpong-Cinere project, it is Preferred Thiess says all these projects are reliant on rently engaged in the tendering process for Tenderer and is in the final stages of negotiat- the Indonesian Government completing land three toll road BOOT (build own operate ing terms for a Concession Agreement in con- acquisition. This requires a number of legisla- transfer) schemes in Indonesia — the Jakarta junction with alliance partner PT Waskita tive changes and there is no certainty as to Outer Ring Road 2 Package 3 Serpong-Cinere Karya (which holds a 20 per cent investment). when this will be. (Jakarta); the Trans-Java Toll Road Ngawi- For both the Ngawi-Kertosono and Solo- As well as an investment opportunity, con- Kertosono Package (Central Java); and the Mantingan-Ngawi projects, Thiess Indonesia is struction work will be undertaken by Thiess Trans-Java Toll Road Solo-Mantingan-Ngawi sole tenderer. As such, it is in the evaluation Indonesia, which is hopeful that work will (Central Java). Thiess Indonesia has been and negotiation process, working towards the start at the end of 2008. Indonesia short-listed for all three. Government issuing preferred tenderer status. currently has 650 km of toll roads.
The Sports Council subsequently asked for Korea leads on PPPs, re-submission of bids for the Sports Hub, the Ministry of Education withdrew the NUS proj- ects to go down the traditional procurement route, and a decision on the ITE West project S’pore in stop-start was delayed. At the end of November, Gammon Capital, the Southeast Asian PPP vehicle of Britain's largest construction conglomerate, Balfour SOUTH KOREA leads Asia in the use of the private-public part- Beatty, was appointed "preferred bidder" for nership (the PPP), but infrastructure demand could force more ITE West College's new 10-hectare campus, at a cost of S$270 million. The project was the first countries to adopt the concept – and this may require a cultural PPP of its type for the British Group outside the change allowing for more genuine Government partnerships with United Kingdom. the private sector . . . In January the Singapore Sports Council chose, as its preferred bidder, the Sports Hub Consortium, led by French contractor Dragages SINGAPORE – With few exceptions, South Korean Government approved some 118 – to build the S$1.2 billion Sports Hub. The con- the concept of the public private partnership PPP projects, with a capital value of US$38 bil- sortium will run and operate the stadium and (PPP) has not yet been adopted widely in Asia, lion, including roads, rail, water, airports, ports attendant facilities over 25 years. even though the region is familiar with PPP’s and parking. In the last three years, it is But there is lingering bad taste over the NUS predecessors – BOOT (build-own-operate- believed close to 154 deals had been finalised. campus project, which attracted a wide field of transfer) and BOT (build-own-transfer). Lamb believes that, since 2005, the pro- Australian companies, including Macquarie Indonesia and the Philippines are among gramme has extended to cover schools and Bank, Babcock and Brown, Transfield Holdings those to use the BOOT or BOT concepts to con- other social projects. It is understood Seoul and the Plenary Group from Melbourne. struct large infrastructure projects. But the PPP, plans to have 154 schools built Australian companies were represented in four or the PFI (private finance initiative) as it is under the PPP model, offering of the five competing consor- known in Britain, has not been popular as an 25-year concessions. tiums. option to finance infrastructure. Macquarie Bank has been a Ignatius Hwang, a partner Now, as the region is forced to meet the chal- strong player in the market with the Australian law firm, lenges of developing and upgrading infrastruc- since it established the Freehills, in Singapore, says ture to meet growing demand caused by popu- Macquarie Korea Infrastruct- that, before the current crop lation growth and rapid urbanisation, it will ure Fund, which now owns of projects in Singapore need to consider the PPP as another avenue of nine infrastructure assets, and under the PPP programme, financing. Ernst & Young estimates that Asia has six under construction – there were projects which will have a financial shortfall of more than including expressways, bridges could be considered PPPs. US$200 billion annually in infrastructure spend- and tunnels. Some of the proj- These include Singapore’s ing in coming years. ects today are more complex first desalination plant, built Russell Lamb, Director of Ernst & Young’s and larger – for example, the and operated by Hyflux, the Infrastructure and Projects Finance/PPP in 12.3-km Incheon Bridge. There Ulu Pandan NEWater Plant, Singapore, says South Korea, Singapore and was a time when the Koreans built and operated by Keppel Malaysia have started using PPPs. But he would not contemplate having Seghers – both projects ten- believes it requires a cultural change, as a project of this size built using dered out by the Singapore occurred in the UK 10 years ago, for govern- PPP, Lamb says. Ernst & Young’s Russell Public Utilities Board – and ments to allow the private sector absolute con- The British firm, AMEC Plc, Lamb – a US$200 billion the fifth incinerator plant, to trol of day-to-day management of infrastruc- has inked an agreement to annual funding shortfall. be built and operated also by ture. For PPPs to flourish, he says, there has to fund and start work on the Keppel Seghers. be a more "genuine partnership”. US$1.45 billion bridge development. It is the Hwang says that, for future projects, there is Lamb told ATI that, for the past decade – and first foreign investor to lead a major PPP project talk of bringing hospitals and toll roads into the more-so in the last five years – South Korea has in South Korea under a 30-year concession. PPP programme, but he thinks these are used its version of PPPs to develop projects. He Singapore's Ministry of Finance originally “a bit of a long way off". believes South Korea has a more structured published its PPP outline in 2004, and soon I approach, and issues a standard document for The export credit agency funding announced three high-profile PPP projects. option, page 13 these projects. These include Sports Hub, billed as the largest As it becomes a more mature market, Lamb sporting infrastructure to be developed by the feels the South Korean Government no longer private sector; development of a campus town- COPYRIGHT © 2008 All material in ASIA TODAY needs to provide guarantees to private sector ship for the National University of Singapore; INTERNATIONAL is copyright. Reproduction in whole or in participants, as it did in the early days. part is not permitted without written permission of the and the Institute of Technical Education (ITE) publisher, Asia Today International Pty Limited. Between 1997 and 2005, it is believed the West campus.
ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 | 13 esb1022 Dubai Cup_at 1/18/08 11:51 AM Page 1
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For more information about this event, please go to our website at: www.imn.org/esb1022/atm CPE CREDITS AVAILABLE! Te l : 2 1 2/ 7 6 8 - 2 8 0 0 • Fa x : 2 1 2/ 7 6 8 - 2 4 8 4 • Em a i l : m a i l @ i m n . o r g PROFESSIONAL SERVICES MEETING THE FUNDING CHALLENGE WHERE THE EXPORT CREDIT AGENCY FITS
SYDNEY – An additional source of Habtoor Engineering, one of the largest con- the huge requirements for capital expenditure financing for companies seeking involvement in struction companies in the Middle East (see now involved in infrastructure projects, tender- major infrastructure projects offshore, especially pages 11, 12). The move provides Leighton with ers, suppliers and project sponsors need to look where the issue of country risk is involved, is a significant increase in capacity to capitalise at all possible financing options. the national export credit agency. As two exam- on opportunities in the Arabian Gulf. As reported in ATI in December, EFIC has ples, Australia’s Export Finance and Insurance EFIC joined the Abu Dhabi Commercial provided a guarantee to allow the Melbourne Corporation (EFIC) has taken a position in the Bank, HSBC, Mashreqbank and Royal Bank of company, Environmental Systems and Services Lumwana copper mining project in Zambia, Scotland to provide debt funding for the (ES&S) to access working capital through and in a major bridge project in Vietnam. Leighton acquisition. HSBC, permitting it to successfully tender for a EFIC is supporting participation of Peter Swan, a Director in Structured Trade Hong Kong Government project. Baulderstone Hornibrook in a consortium con- and Project Finance at EFIC, says there are few Tender documents for the project, a weather structing the US$104 million Phu My Bridge satellite earth station with associated data pro- across the Saigon River in Ho Chi Minh City. cessing and display systems, did not allow for The project is primarily financed by a loan from c Tenderers, suppliers any upfront or periodic payments during the Societe Generale to the Ho Chi Minh City estimated 18-month construction timeframe. Investment Fund for Urban Development. and project sponsors need EFIC has also been supporting the Australian Germany’s export credit agency, Euler Hermes, to look at all possible roof engineering and construction specialist, is providing insurance to Society Generale for Chadwick Group, in a series of projects in Asia the loan, and EFIC is providing reinsurance to financing options d and the Middle East over the past 12 years. Hermes to the value of AUD26 million to sup- Since 1995, Chadwick has secured contracts port Australian content. worth some AUD150 million in six countries. Its In Zambia, EFIC is providing substantial formalities attached to seeking EFIC support for most recent project, completed in 2007, was political risk insurance to support Australian infrastructure projects, but there does need to valued at AUD27 million – to construct the roof- involvement in the development and operation be a level of Australian content in the project. ing system for a new concourse at Dubai of what will become Africa’s largest open-pit "We assess the characteristics of the transac- International Airport. EFIC provided an AUD2.8 copper mine. A subsidiary of the Australian and tion and go from there,” Swan told ATI. “There million guarantee facility. Other Chadwick con- Canadian-listed Equinox Minerals is develop- are no formal limits on the funding we might be tracts include design, fabrication and installa- ing the US$715 million mine. able to guarantee, but if a project requiring tion of a roofing system for Suvarnabhumi EFIC has also helped Leighton finance acqui- exposure of $X million is greater than we wish Airport in Bangkok, and a titanium roof struc- sition of a 45 per cent stake – Leighton invest- to accept, we may find ways to transfer part of ture for Singapore’s Expo railway station. ing approximately AUD870 million – in Al the risk to other parties." Swan says that, given Engineering ingenuity a strength for Meinhardt
Perhaps one of the firm’s most rewarding WHEN Asian markets col- moves was to go to Dubai, which, at the time, lapsed, Meinhardt International was on the cusp of a huge construction boom. moved swiftly to diversify, Dubai is now one of the world's busiest con- struction markets – to this day, the boom establishing a strong pres- shows no obvious signs of slackening. ence in the Middle East, Based in Singapore, Nasim felt the Asian then adding the US and the downturn acutely. He points out that Singapore's UK to its list of offices . . . construction industry went into a seven-year recession from 1997. Meinhardt first went to Singapore in 1974, and was therefore no stranger to the ups and SINGAPORE – The Asian financial downs of market. But the crisis cast a deeper crisis a decade ago came as both a shock and recession than previously experienced – the a watershed for the Australian consulting engi- economy did not recover until 2004. "While neering firm, Meinhardt which has a big pres- everyone else was shrinking – some halved the ence in Singapore. It gave Meinhardt impetus size of their operations in Singapore – we con- to take on the global market. tinued to put on staff because we had started Signature Towers in Dubai – Meinhart "The lesson we learned was not to rely on a to do work outside the region," says Nasim. Singapore is lead consultant. single market – that we must diversify. Today, Meinhardt Group has projects with a Adversity gave us the strength to search for collective value of US$10 billion in countries Meinhardt Group, founded in 1955. He says the options," Shahzad Nasim, Meinhardt which include developed markets such as the Australian operations and the Group are doing International's Managing Director, told ATI. US – where it has carried out projects in the well under the new Chairman, Vicki "As a consequence, we went to Dubai, Abu healthcare sector – and in the UK – in the build- Meinhardt, (daughter of the firm's founder, the Dhabi, Qatar, Saudi Arabia, Egypt and Libya." ing and aviation sector. Group’s international late Bill Meinhardt), and Phil Treyvaud, Later, Meinhardt added the United States operations are expected to generate fees of Meinhardt’s Global Chief Executive. "We are and the United Kingdom to its list of offices. US$150 million this year. one of the biggest engineering firm (in the Today, the firm employs 3,000 people, and has Nasim says all international offices work world) with a complete complement of engi- 27 offices in 14 countries. closely with its Australian parent, the CONTINUED PAGE 17
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PROFESSIONAL SERVICES ENGINEERING DRIVES GROWTH
FROM PAGE 15 neering disciplines – from structural to building and we have managed to solve the structural on one of Singapore’s two new integrated services, facade and infrastructure engineer- problems," Nasim says. It is this capability to resorts (each with a casino) and the Marina Bay ing,” says Nasim. “We are one of a very few come up with solutions to meet unusual, cut- Financial Centre. Nasim says land cost alone for firms which can offer seamless, integrated serv- ting-edge building designs, that has earned Marina Bay is S$2 billion. ices in all engineering disciplines." Meinhardt a global reputation for engineering While eye-catching buildings have tended to Nasim says the Meinhardt network in Asia is innovation and ingenuity, he adds. dominate Meinhardt’s portfolio of projects, stronger than those of many other international Other Meinhardt projects in the Gulf area Nasim says the firm has not abandoned projects firms, which have presence but lack the scale of include the Dubai Mall, described as the largest such as bridges, flyovers, transit systems and Meinhardt's operations. He points out, as an complex of its type in the world. Meinhardt has other infrastructure. Meinhardt is involved with example, the firm’s offices in Bangkok and also completed Phases 2B and 8B of Dubai airports in India, Cyprus, the Philippines and Kuala Lumpur, which employ between 200 and Festival City, and is working on a mixed use the United Kingdom. 100 people each. commercial and residential project, The Pearl, Nasim says the rationale in entering the US Meinhardt has undertaken some of Asia’s in Qatar. market, initially, was to work with US firms (and the Gulf’s) most complex and challenging Back in Singapore, where the building indus- which have operations in Asia. "We want to engineering projects. Its key area of specialty is try has recovered with a vengeance, Meinhardt capitalise on our strong presence in this region, in building design in sectors as diverse as com- has nearly completed The Sail – twin 70- and because we are able to offer services to mercial and residential buildings, hospitals, 63-storey residential towers. It is also working US firms coming to our region." infrastructure and aviation. Nasim takes charge of key projects himself. "We are all responsible for our projects," he says. As lead engineer in projects such as the Signature Towers in Dubai, Qipco Tower in Vietnam moving into Qatar, and the newly-completed upmarket resi- dential project Sail@Marina Bay, Nasim makes himself available to clients at all times. It is a principle that trickles down to employ- high-profile projects ees. Staff in the Singapore office working on projects in the Middle East, for example, work through weekends to fit in with the clients' working week (Sunday to Thursday). GHD is looking to acquire a local business in Vietnam to strength- "Our clients are sometimes surprised that we en its presence and help grasp the opportunities available . . . are available when they want us, because other foreign firms take their weekends seriously," Nasim quips. This is one way of differentiating Meinhardt from other consulting firms. But HANOI – Glen Reinsch says Vietnam is to quadruple its staff there to around 100 as mostly, it is an ability to sign up and deliver eye- probably 10 years behind China in terms of quickly as possible. "As with our strategy in catching projects which has become testimony infrastructure development, but he believes it other markets, like Malaysia and elsewhere, we to the firm's skills. will close that gap quickly in coming years. intend to buy a local business to help us Meinhardt Singapore is lead consultant for Reinsch, Vietnam Country Manager of expand,” Reinsch told ATI. design and documentation for Signature Australia's leading consulting group, GHD "We will definitely be looking for businesses to Towers, three high-rise towers (of 72, 67 and 54 (which opened on office in Hanoi four months acquire in the next couple of years. Organic storeys) in Dubai. Design of the structure defies ago), says China is very developed in many growth can be a bit too slow. To grasp the the conventional engineering approach. The areas when it comes to infrastructure. But he opportunities available, we also need to have stunning buildings, believes the gap will be whittled down quickly strong local knowledge, and that will come designed by Zaha as Vietnam opens to foreign investment – and from acquiring a local business." Hadid, are curved, domestic investment increases following Still, Reinsch says it is early days for the firm making it difficult to accession to the WTO a year ago. in Vietnam. It has only recently established an build a conventional Already, some high-profile projects have architectural/structural engineering team central service core. been announced. One is the US$220 million there. Vietnam’s construction sector, he says, Originally known as Halong Star – a 125 hectare development at is "hot", but competitive. GHD has won two Dancing Towers, none Halong Bay on Vietnam's Northeast coast – to projects involving urban design for local clients. of the three towers include a 250-room hotel, the first five-star Such projects are potentially attractive to for- rises in a straight line property in an area designated as a eigners. As in China, where local from the ground. World Heritage site by the United developers hire foreign architects Initial concept designer Nations. and planners to give their projects Meinhardt’s Arup says the firm The investor is Limitless, the the "prestige" of foreign design, Shahzad Nasim – has seen "a twisted Dubai real estate developer and Vietnamese developers engage for- learned not to rely geometry trend" emerg- part of the Dubai World conglomer- eign input. on single market. ing in building design ate. Dubai World is developer of Reinsch says urban projects can lately, but has yet to the Palms Islands project in Dubai, range from 100 to 1,000 hectares. see one as complicated as the Signature in which GHD is involved. GHD has been bidding on some Towers, in Dubai's Business Bay – a project of The Dubai link is an example of developments, and is looking to pro- Dubai Properties. how GHD hopes to capitalise on its vide design concepts for multi- Another building, Qipco Tower in Doha, worldwide contacts in targetting storey buildings, including five 30- Qatar (architect SIAT Gmbh), has a fabricated major projects in Vietnam. GHD's storey buildings in Hanoi. steel diagrid facade which supports the build- GHD’s Glen operations in the Gulf, based in Reinsch – Water He says that, over the past ing to provide column-free office space. The Dubai, have grown from 30 employ- sector is a core decade, GHD has established a framework of the German-designed building, ees six years ago to 600. Reinsch market. profile in Vietnam through its nick-named "The Tornado" because of its shape says many Australian firms have involvement in aid-funded proj- and structural effect, is supported by individual moved their manufacturing from ects. "There is now a strong oppor- lighting fittings on the junction points of steel Australia to Vietnam, or are expanding their tunity to increase our business in this market." girders – to accentuate the structure and to facilities there. The firm first went to Vietnam to undertake highlight the form of the building. "As local and foreign investment comes into water projects – an area that remains the core "The Signature Towers are unconventional Vietnam, we expect the number of projects to to its services in Vietnam, where there is a buildings. They are very difficult to construct, increase," he says. GHD has an ambitious plan CONTINUED PAGE 18
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FROM PAGE 17 strong emphasis on providing clean water to cities and communities. As a result of leakages, Engineering driver of water is not getting to where it should go, and illegal tapping into the water system is also a problem. Reinsch says local authorities are keen to get assistance in managing and upgrading BlueScope PEB sales their assets. In the next few years, consulting firms will find plenty of work in non-revenue areas and in the treatment of waste water. GHD is due to complete a six-year project, DESIGN and structural skills are driving rapid growth of known as the Three Town Mekong project BlueScope’s pre-engineered building division in Malaysia, (funded by AustAID, the Australian foreign aid agency), this year. Most of its current projects where the aviation and oil and gas sectors are now emerging as are funded by the Manila-based Asian key customers in a highly-competitive market . . . Development Bank. Recently, it completed a feasibility project, funded by the French over- seas development assistance agency, to Backed by a upgrade rural infrastructure, including water KUALA LUMPUR – team of 18 skilled engineers (of a total 34 engi- Managing in Asia and roads. Increasingly, the Sydney-based GHD neers working in its Malaysia business), is promoting sustainability in its work and BlueScope Lysaght Malaysia has, over three Reinsch says it is his task to push the firm’s sus- can be more cost-effective, as the engineer- years, driven growth of its pre-engineered tainability skills strongly. But at its present state ing/design input is not done twice. building (PEB) business unit to a point where it of development, he says, Vietnam has other pre- “If you take a typical Malaysian factory, it will accounts for some 20 per cent of the company’s occupations. be designed in steel – so we will go to the client total sales. and ask if we can inspect his property and land Heon Chee Shyong, President of BlueScope size to come up with a pre-engineered building SMEC completes Lysaght Malaysia, says the ability of his engi- design – there are often cases where we can neers to offer cost-effective solutions in pre- propose alternative solutions.” biodeisel facility engineered buildings, and to cross-sell through Thian says that, initially, in Malaysia, there the company’s other business units, has made was an impression that the BlueScope Lysaght KUALA LUMPUR – SMEC Malaysia the company a major player in the market. has completed the first commercial biodiesel When the PEB business unit was launched c plant in Malaysia. Located on a five hectare site in Shah Alam in 2005, there were many local Many clients now want in Lahad Datu, Sabah, the plant will produce an PEB fabricators, along with two major local buildings constructed estimated 100,000 tonnes of biodiesel annually, players and one multi-national already in the plus 11,600 tonnes of crude glycerine, a second- PEB market. “We now rank second, and we quickly – in three ary product used mostly in production of soap. intend to be industry leader in one or two months or less d Malaysia is the world’s largest producer and years,” Heon says. “To do that, we will need to exporter of palm oil and 30% of total production double sales.” comes from Sabah. Biodiesel will be used in the Thian Aun Goh, BlueScope Vice President- solution could be more expensive. “But there transport sector, but will also be supplied to the Building Solutions, says Malaysian property have been many times where we beat competi- industrial sector to fire boilers in manufactur- owners traditionally have used their own civil or tors on price – and we offer what our competi- ing, construction machinery and generators. structural engineers and architects for in-house tors cannot offer, innovation in engineering SMEC Malaysia was Owner Engineer of the consulting before going to tender for construc- design,” he says. “We also put major emphasis SPC Biodiesel project, and conducted feasibility tion. “So the bulk of our work to date has been on time commitments and safety measures – to studies and provided design briefs on all won through traditional tender,” he says. deliver on time and to deliver safely,” he adds. aspects of the plant, including approvals and “As our reputation has grown in the local “Safety awareness in the construction industry permits from local authorities. market, we have become more pro-active in is improving in Malaysia, and Bluescope offering the client an optimised building solu- Lysaght is seen by industry players as the Solid growth tipped tion and value-engineering. If the client is more leader in this regard.” comfortable with his own engineer and archi- Apart from factory building, rebuilding and for Aust. market tect, our engineers can work through them in upgrades, BlueScope Lysaght is finding growth the first instance – or we can go at the front to in Malaysia’s aviation sector, where it has just CANBERRA – Engineering and com- help the client come up with a solution. This CONTINUED PAGE 19 mercial construction activity by Australia’s pri- vate sector is set to build on its current strong base to reach a new record high of AUD82 bil- lion in 2008/2009 – more than double the 2003/2004 level. An Australian Industry Group (Ai Group) – Australian Constructors Association (ACA) Construction Outlook survey, shows Australia’s leading construction companies forecasting a 10.8% increase in the total value of construction work in 2007/2008, followed by a lift of 7.4% in 2008/2009. This builds on a 12.1% increase in 2006/2007. ACA President, Wal King, says: "The survey confirms that engineering and commer- cial construction remains strong, with activity set to build on its current high base. It is also clear, however, that supply constraints and rises in construction costs pose a risk to growth prospects, with many firms continuing to face intense pressure from both scarce BlueScope’s Heon Chee Shyong (left) and Thian Aun Goh, pictured with the Berjaya resources and tight profit margins.” Air project at Subang.
18 | ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 PROFESSIONAL SERVICES AVIATION BECOMES KEY MARKET
FROM PAGE 18 completed design and construction of an avia- manufacture carbon products.” The contract, which Heon prefers to call his Building tion hangar for Berjaya Air at Subang, KL’s for- in Banting Selangor, south of Kuala Lumpur, is Solutions Business Unit, Bluescope Lysaght mer international airport. The project is the due for completion in March/April. Malaysia has two other business units – widest clear-span pre-engineered steel struc- At the new Port Klang Free Zone (PKFZ), the Residential Solutions, and Building Products, ture – a 62-metre clear span – done by firm has completed roofing and wall cladding both involving engineering input. BlueScope Lysaght Malaysia, and it was com- work for Aker Kvaerner, a Norwegian company Heon says a positive for pre-engineered pleted within three months from project award manufacturing for the oil and gas industries. buildings is that many clients in Malaysia now to handover. The company has also built a new “Firms involved in oil and gas are very big on want buildings constructed quickly – in three helicopter terminal at Labuan Airport. environmental matters, and we are certified in months or less. “We can do this with steel,” he "We have successfully penetrated the heavy this area,” Heon says. says. “We recently completed a 7,500 sq m industries sector too,” says Heon. We have won All manufacturing of pre-engineered build- warehouse at KL International Airport in just Phase One of SGL Carbon Plant, a large ings is carried out in Malaysia, partly because of nine weeks from the date we were German company investing in Malaysia to steep tariff barriers on imports. Apart from PEB, awarded the contract.
looking for. "For us, it has become a good flag- Woodhead plugs into ship sector," he says. Woodhead now has 360 employees, 75 of whom are located in China (the firm’s biggest offshore presence), and in Singapore, where it Asian aviation design has operated a permanent office since 2006. Lee says China is very important to Woodhead, which established a presence there in 1994, and converted into a wholly-owned for- AUSTRALIAN architectural and design firm Woodhead eign investment (WOFI) company in 2003. Its International has seen its work on Singapore’s Changi Terminal China practice is active in sectors such as hotels, master planning of urban projects, retail 3 bring potential new projects in India, Vietnam and Malaysia. and some aviation work. It is also working on Abu Dhabi Airport . . . "We bid for airport projects in China, but we find it difficult to understand the system – which can be haphazard at times and not very SINGAPORE – After India's largest Singapore firm, Wilson, that it won the contract transparent," he says. While it has missed out engineering firm, Larson and Toubro, won the to design the interior of Changi Terminal 3. on some airports in China, Woodhead has not contract to modernise New Delhi's International Stuart Truman, who worked on the Sydney given up. It is pursuing other projects, such as Airport, it went to the Australian firm, Airport upgrade, was drafted to lead the Pudong Airport. "We would like to focus on Woodhead International, for expertise on con- Singapore team in designing the huge landmark projects, and try to avoid diverting cept and design. In January, Larson and Toubro Singapore terminal, which cost S$1.75 billion. clinched another contract – to modernise busy While working on Terminal 3, Woodhead won Mumbai Airport – and it is again in discussions another contract from the Civil Aviation c While it has missed with Woodhead for input. Authority of Singapore (CAAS) to upgrade Architectural and design firm Woodhead has Terminal 1. It was also involved in redesign of out on some airports established an indelible mark in airport design – the retail areas of Terminal 2. in China, Woodhead has more-so since the opening of Singapore's state- Refurbishment and upgrading of Terminal 1, of-the-art Changi Terminal 3 in January. which originally opened in 1983, is expected to not given up. It is Although aviation is a relatively new field for be complete in 2010. The project cost will be Woodhead, best-known in Australia for building significant, running into many millions of dol- pursuing other projects, design, the firm is increasingly lars, says Truman, who declines such as Shanghai’s staking its name on international to be precise in the absence of d airport projects. Managing Principal, an official announcement from Pudong Airport Geoffrey Lee, says Woodhead will CAAS. Those close to this type produce a concept plan for archi- of project told ATI that the resources into small projects," Lee says. tectural design of Delhi and upgrade could cost around In Australia, however, more mundane proj- Mumbai airports for Larson and S$500 million. Because of the ects provide the firm with its bread-and-butter Toubro. "We will oversee docu- size of such projects there, workload. Lee says the firm's strategy is to mentation of the projects," he says. Singapore is now an important build up strong operations offshore, but he is Through its connection with the offshore revenue centre for wary of fall-out from the US sub-prime mort- Indian firm – which employs Australian professional firms. gage crisis, which has led to a serious global 40,000 engineers and 1,000 archi- Singapore has given credit crunch. tects – Woodhead is now chasing Woodhead some of its best proj- One client, Citibank, delayed decisions on bids on other projects in India. Lee ects, including the National the fit-out of its new offices in Singapore's says there are opportunities in Geoffrey Lee - Library, to showcase its skills. financial district for about a month, but finally cities such as Hyderabad and Aviation has become Apart from India, Lee says decided to proceed. The current situation Kolkata. The firm works with other a flagship sector. Woodhead is assessing opportu- could stall decision-making with other clients Australian firms, such as nities in airports in Danang, in coming months, Lee says. Meinhardt, on some projects. Vietnam, and in Penang and While the firm has had a very good first half Despite their scale – the Delhi and Mumbai Kuala Lumpur in Malaysia. The firm is also in the current financial year, the second half airport projects are estimated to cost around working on Abu Dhabi Airport. (CAAS man- could be uncertain. Says Lee: "Our focus is to US$1.4 billion – Lee says Woodhead will be ages Abu Dhabi International Airport and plans ensure that we work for clients who are working on drawings and inspections, not lead- to increase its investment in airports, particu- financially sound." managing as it did with Singapore Changi larly in its targetted markets in the Middle East, Terminal 3. India, China and Russia.) I New aviation era for India, States told Woodhead won a contract to help upgrade Lee says aviation is a good international sec- to push PPPs for local airports; Branson Sydney Airport in 1997 as the city prepared to tor to be involved in, because there are large bidding to enter domestic market, host the 2000 Olympic Games. It was on the projects requiring specialist skills, and clients pages 20,21 back of this work, in joint venture with the are sophisticated and specific in what they are
ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 | 19 NEW AVIATION ERA FOR INDIA PROFESSIONAL SERVICES
Aviation, says further incentives would boost air connectivity in other than metro areas – IPO for Air India, new “and that is what is required”. At present, few airlines connect Tier-II cities like Chandigarh, Dehradun and Patna. start-ups set the scene Even in these cases, frequency of operations is considered inadequate. According to one study, a major chunk of domestic traffic origi- nates from the cities, leaving little connectivity for interior destinations – an imbalance which N.Hariharan needs to be reduced. ATI Correspondent A comprehensive civil aviation policy has been referred to a group of Ministers headed by External Affairs Minister, Pranab Mukherjee. AIR passenger traffic in India is growing by 25 per cent annually, Titled Vision 2020, the policy draft seeks to enhance the foreign direct investment level in and the Government is scrambling to upgrade aviation facilities some areas, such as cargo operations, chartered – both in the cities and rural areas, with the States told to pro- flights and ground handling. Differences persist mote private-public partnerships . . . among airlines and in political circles over some key proposals of the draft policy. A proposal by Civil Aviation Minister, Praful MUMBAI – India’s Union Government is regional connectivity a policy objective. Start- Patel, that the experience period rule imposed now implementing guidelines for the opera- up airlines which are ready to operate link-up on domestic carriers to qualify for international tion of regional air services. New start-ups services to connect smaller towns will get prior- operation – first five years, then reduced to should own at least one aircraft and increase ity in licensing in a strategy to help avoid fur- three years – should be scrapped, and that air- to three over a fixed period – and they must ther pressure on overcrowded airports like Delhi lines should get the green signal purely on the operate from one city to interior destinations. and Mumbai. basis of fleet size, financial capability, manage- They can also operate services to link non- A dozen airlines are awaiting clearance to tap ment expertise, human resources, and techni- metro cities and towns. In the South of India, into the booming domestic market. These will cal competence, is gaining acceptance. While they can operate from three cities – Chennai, now be told to go for regional operations. new start-ups welcome removal of the entry Bangalore and Hyderabad. As an incentive to those who opt for regional barrier, established operators want weightage The rush for regional airlines is on. South services, the Government has promised to pro- for their long wait. The Prime Minister may India is the most sought-after region, with at vide cheaper aviation fuel and lower airport intervene to sort out the differences. least four small start-ups planning new services. Three airlines are looking to connect under- India seeks rights served cities in the North-East to the eastern c One study says a hub of Kolkata. The Civil Aviation Ministry has major chunk of domestic in Europe, Gulf also received two proposals to connect smaller, fast-growing cities in North India – especially traffic originates from the MUMBAI – India’s Minister for Civil in Punjab – to Delhi. Aviation, Praful Patel, is planning talks with The Bird group, a Delhi-based travel and IT cities – leaving little Gulf countries to seek flying rights for multiple firm, may be among the first to take off in North connectivity for interior Indian carriers, including Jet Airways and Air India under the new policy. At least six other Deccan. Saudi Arabia to date has been insist- start-ups, including Premier Airways’ brand destinationsd ing on a ‘one nation, one carrier’ principle while Easy Air, Dravida in the South, Mega Airlines negotiating bilateral rights. from the North-East, and North Star in the Patel also plans talks in Brussels to seek an West, are planning to apply for licences. “The charges. The Ministry feels that smaller towns India-European Union horizontal air service new airlines will operate smaller aircraft, are would get good connectivity if the airlines oper- agreement, which would treat the EU as one easy to fill up, easier to park and virtually pay ate smaller aircraft. For non-trunk routes, 30- entity, and enable India to negotiate seat no landing fees,” says Madhav Oza, airline ticket seaters and 50-seaters would be ideal. arrangements, designation of airlines and other consolidator of Blue Star Travels in Mumbai. Kapil Kaul, CEO, Indian Sub-continent and issues for all 24 countries party to the India’s Civil Aviation Ministry wants to make Middle East, at the Centre for Asia Pacific agreement. STATES TOLD TO PUSH PPPs FOR LOCAL AIRPORTS
MUMBAI – The Indian aviation sce- ask them to promote public-private partner- which are not generally operational now – nario is turning multi-faceted, with major ships for the development of airports. there is occasional use of 80 of them. Patel plans launched by the Minister for Civil With the merger of the former Indian Airlines says the objective is to provide connectivity Aviation, Praful Patel. Sea-planes will soon with Air India to form a new National Aviation to semi-urban areas, and to help corporations enter the airspace to link small islands located company, the Government will soon go to an wanting to develop a supply chain for their off the east and west coasts. initial public offering (IPO) to divest a 10-15 per retail operations. The Minister has urged "If a small country like the Maldives can cent stake of its shareholding in Air India. The State governments to lift sales tax on aviation have 25 or 30 sea-planes connecting small Government has been keen to list Air India to fuel, which accounts for 35 to 40 per cent of islands, why can't they operate in India, raise resources for expansion of services. the operational cost of airlines. He will ask the which has a vast sea coast," the Minister The IPO, a part of which will be offered for Finance Minister to reduce the customs and said when announcing India Aviation 2008, subscription by employees, will help raise excise duties on aviation fuel in the coming the first civil aviation show planned for India funds for the purchase of 111 aircraft by Air Budget, to be presented to Parliament in (to open in Hyderabad on October 15). India, which plans to buy 68 Boeing aircraft at February. The Government is planning to The Minister convened a meeting in a cost of Rs350,000 million, and 43 Airbus air- invest Rs410,000 million for modernisation January with State governments to explain craft costing around Rs98,000 million. and expansion of 35 non-metro airports, opportunities in the aviation sector – and to The Government plans to revive 350 airstrips to be completed by the end of 2010.
20 | ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 are notadequate. Nagpur cargo facilitiesatsomeports–including faster transportofgoodsforindustry Exclusive cargohandlingairportswillfacilitate only twocategories–civilanddefence. gory ofairportforIndia,whichcurrentlyhas for newairports. Ahluvalia, hassubmittedareportonguidelines Planning Commissioner Minister forCivilAviation, PrafulPatel, andthe ing theFinanceMinister, P. Chidambaram,the airports. Athree-membercommittee,compris 150 kmminimumdistancerequiredbetween near existingairportsbyrelaxingthecurrent some privateplayerstosetupcargoairports another Tier-II city. T Coimbatore, andanewIndianInstituteof Institute ofManagement(IIM)tobelocatedin Government ofT the UniversityofSouthAustralia).TheState educational institutions(includinglinkswith quickly asaTier-II city. Ithasalargenumberof increase to32shortly. Coimbatoreisdeveloping ate dailyfromCoimbatore,andthiswill from Coimbatore–intotal,23flightsnowoper- foreign destinations,viaSingapore. approved newdirectflightsfromCoimbatoreto structure atCoimbatoreinSouthIndia,andhas operating fiveaircraftattheendoftwoyears. aircraft inthefirstyearofoperation–andtobe three airlines,eachofwhichistoacquire the Governmentwillacceptproposalsfrom Kochi, andVisakapatnam. and Bangalore,alsoThiruvananthapuram, strong demandgrowthinChennai,Hyderabad set toflyoverthesouthernskiesofIndiatap Chennai) andEmricAir(basedinKoehi)–are D rate ofairtravel growth mayoutpacetheglobal flights. India’ than themoretraditionaltrainjourneys. aging morepeopletooptforair travelrather per centannually, withhigherincomesencour- es. Indianairpassengertrafficis growingby25 changed toenableforeignersrun localservic domestic airlinehere. sought Governmentpermissiontostarta UK carrier, Virgin AtlanticAirways,has now traffic inIndia,RichardBranson,whoheadsthe echnology (IIT)hasbeenmootedforMadurai, ravada andStarAviation (bothbasedin MUMBAI – as domes to enter market Branson bidding MUMBAI – cargo apriority southern skies, More airlinesfor P P The AirportsAuthorityofIndiadoesprovide Greenfield cargoairportswillbeathirdcate- The Governmentisalsobackingproposalsby Jet AirwaysisalreadyoperatingtoSharjah The Governmentisexpandingairportinfra- A seniorCivilAviation Ministryofficialsays Already, sixdiscountcarriershavestarted Branson ishopefulthatcurrentruleswillbe R R O O F F , LucknowandCoimbatore–butthese E E S S S S I I O O s populationis1.1billion,andthe N N A A L L amil NaduwantsanIndian Having watchedgrowthinair
S S T E E tic airline hree newairlines–Air R R V V I I C C , MontekSingh E E S S . India includeNewYork, Toronto andBrussels. in aboomingeconomy. Newdestinationsoutof airports canbarelycopewithgrowingdemand Confederation ofIndianIndustry, saysIndia’s airport facilitiestohandletheA-380. order fivemore.ButIndiawillneedtoupdate be deliveredinearly2001,andKingfishermay Airbus 380.Theinitialorderisforfiveaircraft,to become thefirstIndianairlinetoordernew India’s brewingandspiritsgiant,UBGroup,has - - MUMBAI – first order for A380 Kingfisher Airin Mohan Murti,formerDirector(Europe)ofthe America); andinAfrica(Virgin Nigeria). in Australia(Virgin Blue);intheUS(Virgin per centinaviation,islikelytoberevised. direct investmentpolicy, whichlimitsFDIto49 a h Ifthey their figuresaretrue andcorrect. you’ve got nothing toworry about, Whether ornot Ifthey their circulation figureshave have, been auditedby CAB. If you advertise inspecialty publicationsthere’s only one thingyou need tocheck. t verage by2025.OfficialssayIndia’s foreign eCruain ui or n0 9490 rvstwww.auditbureau.org.au visit or 9801 9954 02 on Board Audit Circulations he a Branson's airlineoperatesdomesticservices v e n ’t, w l ab o’egtaltl owryaot ofidotmr contact more out find ell maybe you’ve To got alittle toworry about. porky’s? Kingfisher Airlines,ownedby r they Are Circulations AuditBoard ASIA T telling OD
Print Post Approved PP2658954598544565 THIS MONTHSISSUSE A Y INTERNA development. Plan (2007-2012)tofundinfrastructure ed thatIndianeedsUS$492billioninthe11th billion. ThePlanningCommissionhasestimat- our totallendinglevelin2008toreachUS$2.7 reporters afterthemeeting,hesaid:“We expect tance toIndiaincomingyears.Speaking for acontinuedincreaseinitsfinancialassis- Minister ManmohanSinghtheBankseesscope especially inrelationtoPPPprojects. consultation withtheCentralGovernment, India forthe2008-2012period,andisinclose finalising itscountrypartnershipstrategywith through infrastructure-ledgrowth.TheADBis ment, asakeystrategytoreducepoverty Development BankforIndia’s futuredevelop- (PPP) isbeingrecommendedbytheAsian NEW AVIATION ERAFOR INDIA TIONAL MUMBAI – for infrastructure ADB backingPPPs ADB PresidentHaruhikoKurodatoldPrime AUSTNZ $7.10INCLGST $6.50 FEBRUARY/MARCH 2008 Private-public participation
A | TI M A AGAZ 21 verag INE h e circ as be ulatio en an n for audit the si ed m x mon embe ths to r of th Sept e CAB embe since r 2007 1984 was 9 . ,065 c opies. LINKING THE GREATER MEKONG PROFESSIONAL SERVICES From tanks and troops to trade and tourism
Andrew Symon ATI Correspondent
NEW highways and railways Economic Co-operation Programme, promoted by the ADB and supported by other multilater- will open up vast areas of al agency and bilateral development assistance Vietnam, Laos, Cambodia, financing, the governments of Vietnam, Laos, Thailand, Myanmar and Cambodia, Thailand, Myanmar and China TNT Road Network – Singapore to (considered part of the region through its Hanoi and on into China. parts of China. A new high- southern provinces of Yunnan and the Guangxi way from Hanoi to Kunming, Zhuang Autonomous region), are working capital of China’s Yunnan together to build new highways and, to a less- TNT Road Network er extent, railways, to better integrate their province, is being supported economies and so accelerate economic growth extends to China by the ADB . . . and development. The geographical focus of transport integration includes an East West SHANGHAI – TNT Express is set to Corridor (EWC), a North-South Corridor (NSC), become the first integrator in Asia to oper- BANGKOK – Commerce between and a Southern Corridor (SC). ate a road network linking more than 120 northern Vietnam and southern China should The EWC is a direct and continuous 1,450- cities in Singapore, Malaysia, Thailand, be promoted by a new highway between Hanoi km highway between the Indian Indo-China and China, across 4,000 km. and Kunming, the capital of Yunnan province. Ocean/Andaman Sea coast of Myanmar to the TNT’s Asia Road Network, which con- The Vietnamese side of the project, a four- South China Sea coast around Vietnam’s Hue nects Singapore to Nanning, the capital city lane, 244-km link from Hanoi to the border town and Danang central region. The transport corri- of China’s Guangxi Zhuang Autonomous of Lao Cai to the northwest, is to be completed dor has been completed except for a 40-km Region, and Guangzhou, the capital of by 2012, and is being supported by a US$1.1 bil- section in Myanmar. Guangdong Province, is expected to be fully lion loan from the Manila-based Asian The NSC features three different highway operational in the first quarter of 2008, fol- Development Bank (ADB). routes along the north-south axis of the corri- lowing completion of final trials. It connects The facility, approved in mid-December, is dor: Kunming (in Yunnan)-Chiang Rai (in north- to TNT’s international express network in the largest single loan in the ADB’s history. The west Thailand)-Bangkok via Laos or Myanmar; China – linking it to TNT’s Chinese domes- Vietnamese segment will link with a highway Kunming-Hanoi-Haiphong; and Nanning tic network will be the next step. under construction on the Chinese side of the (Guangxi Zhuang)-Hanoi. Various sections are Marie-Christine Lombard, Managing border at Lao Cai. complete, under way or still to begin. The proj- Director of TNT Express, describes the addi- The Hanoi-Kunming highway is one of an ect is to be completed by 2010. tion of China to the Road Network as another array of projects which are fashioning modern The SC consists of three main road links con- milestone in TNT’s strategy to build and transport corridors north and south, and east necting southern Thailand from Bangkok, integrate networks within and between and west, through the Mekong region. These southern and central Cambodia and southern selected emerging markets. “The Road promise to greatly boost trade and investment Vietnam. Segments of the project are similarly Network will strengthen our capabilities to along their course. at different stages of development, with com- support growing intra-regional trade flows,” But with the development also comes con- pletion targetted for 2010. she says. cern about possible impact on the environment Railways are included in the transport The Network connects Singapore, through fragmentation of important natural scheme, although highways and bridges are its Malaysia, Thailand and China through the areas – and a dramatic increase in traffic flows main thrust. The railway line between Hanoi north-eastern border of Vietnam, with real- and Kunming, China, is being improved, sup- time 24x7 GPS tracking of TNT’s container ported by ADB finance; and a US$350 million trucks. TNT says the road service is two to c In Vietnam, a new 150-km railway link is planned between three times faster than sea freight, and up to high-speed US$33 billion Vietnam and Laos from Vietnam’s Quang Binh 30 per cent cheaper than air freight. Province to Thakhet District, in Lao's North-South railway is Khammouan Province (with Vietnam meeting the cost of the preliminary work). US$33 billion North-South railway is being put being put forward. The inter-country links are being comple- forward by the State-owned Vietnam Railway Japan would likely be a mented by improvements to domestic road and Corporation. Japan would likely be a major rail systems. Cambodia’s old and run-down rail sponsor. Vietnam also wants to build 6,000-km major sponsor d system is to be modernised through ADB and domestic expressway between now and 2020. other development assistance loans. The proj- This would include two North-South routes. and exhaust emissions. Another fear is that the ect is rehabilitating almost 600 km of track, The commercial benefits of the new inter- better links with southern China may economi- associated bridges and other structures, and country transport links are illustrated by the cally overwhelm smaller southern communities, will rebuild a 48-km link with Thailand, Hanoi-Kunming highway project. The current through a flood of cheap Chinese goods and destroyed during the Khmer Rouge period. The journey for trucks that now ply the route will be migrant labour. Politically, the stronger trans- rail link between the port of Sihanoukville and reduced to nine hours. Goods from Yunnan will port links between southern China and the Phnom Penh is also being improved. be able to be exported through the ports of Mekong states will further strengthen Beijing’s Longer-term, a new railway between Phnom Haiphong and Cai Lan, near Hanoi, which will influence over the region. Penh and Ho Chi Minh City in Vietnam is on become much closer time-wise than the cur- Under the Greater Mekong Subregion (GMS) the agenda. In Vietnam, a new high-speed rent Chinese outlet port, while Vietnamese pro- CONTINUED PAGE 23 22 | ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 PROFESSIONAL SERVICES INLAND WATERWAY FOR KOREA
FROM PAGE 22 ducers will have better access to Chinese mar- kets. The highway from Hanoi to Lao Cai will operate as a toll road, with the ADB projecting Fast track for Seoul- that it will generate sufficient revenue to recov- er the entire loan within the first 10 years. The ADB’s Vietnam Country Director, Busan canal project Anyumi Konishi, says both countries are reap- ing the fruit of peace and co-operation. Referring to the brief but bloody war Vietnam and China fought around the Lao Cai area in early 1979, Konishi says: “In one generation, they have moved from tanks and troops to trade and tourism." Peter Sylvestre The existing Hanoi-to-Kunming road is a ATI Correspondent narrow and congested artery that winds through towns and over many small bridges SEOUL – Incoming Korean President, Lee along the Red River. The new highway should, Myung Bak, is wasting no time in living up to the ADB believes, allow more rapid and safer his nickname – “The Bulldozer” – by getting transport – and be a catalyst for the establish- his proposed US$15 billion Seoul-Busan (or ment of industrial parks along its route, attract- Nakdong-Han) canal project off the ground. ing domestic and international companies. Lee, a former CEO of Hyundai Engineering Traffic on the route is forecast to rise from & Construction, built the centerpiece US$400 about three million vehicles a year now to 5.5 million Cheonggyecheon canal through Seoul million in 2012 and to 17 million in 2022. The when he was Mayor of the city (2002-2006). highway traverses four northern Vietnamese Awaiting his February 25 Presidential inau- provinces – Vinh Phuc, Phu Tho, Yen Bai and guration, Lee had his transition team’s point- Lao Cai – which have poverty rates as high as of-contact for the canal project, Jang Seok-hyo 34 per cent, against a national average of 20 per (who was Director of the Cheongyecheon cent. The economic stimulus from the highway Restoration), meet with the CEOs of Daewoo is expected to cut these poverty rates signifi- Engineering & Construction, Samsung cantly. But it will come at some social cost. Corporation, Hyundai Engineering & Construction, GS Engineering & Construction, Proposed canal route – likely cost is Although an environmental impact study by US$50 billion. the ADB found no threat to any significant nat- and Daelim Industrial Company. Following a ural sites, the road will require the demolition of series of public meetings this month, Lee about 1,900 homes and force resettlement of anticipates launching the project by February However, there is opposition. Critics say some 25,000 people. The ADB and the 2009 – and completing it by 2011, before he the project is likely to cost US$50 billion, and Vietnamese Government say they have drawn finishes his five-year (non-renewable) term. that migrants will comprise much of the work- up a relocation strategy aimed at minimising During the election, Lee promised to build a force. In a poll by the Seoul Economic Daily, the risks of splitting communities, and ensur- canal linking the 20-km mountainous stretch more than 71 per cent voiced concern. Other ing that individuals who relocate are not between Chungju and Mungyeong – separat- polls put opposition at around 40 per cent. worse off. ing the southern reaches of the Han River Some Korea-watchers are sceptical as to its from the Upper Nakdong River. This would practicality. Apparently, the 20-km mountain- enable barges to travel the 2,100-km distance ous obstacle is the least of the project’s diffi- Kyrgyzstan to join from Seoul to Busan, South Korea’s second- culties. The blog, Gusts of Popular Feeling largest city and largest port. (http://populargusts.blogspot.com/2005/10/le regional corridors The idea is to create an inland shipping e-myung-baks-canal-plan.html), notes that channel through central Korea that would the proposed route probably includes many of Central Asia stimulate the interior’s economy, just as the dams that will have to be altered. BISHKEK – Beginning this year through picturesque Cheongyecheon has done for Environmentalists are also up in arms, as to 2018, 11 major projects totalling almost Seoul. Also, as each barge can carry as much the canal is said to slice through pristine nat- US$1.6 billion will be implemented in as 170 trucks, it should relieve traffic conges- ural land. Expect the public hearings slated for Kyrgyzstan as part of a strategy of transport tion. Lee says logistical costs will be reduced, February to add to global warming. sector development and assistance to trade, and 700,000 jobs created in the process. developed by the Central Asia Regional Economic Co-operation (CAREC) Programme. Kyrgyzstan's Ministry of Economic Develop- TENDERS OPEN FOR HK CRUISE TERMINAL ment and Trade says five of the projects con- cern motor roads, and six concern railroads and air communications. minal adjacent to the former Kai Tak CAREC offers member countries a joint inte- International Airport. The tender is to design, grated approach to develop transport corridors. build, operate, manage and maintain the new During the next 10 years in Kyrgyzstan, cruise terminal for 50 years, and to begin oper- Mongolia, China, Afghanistan, Azerbaijan, ating the first berth in February 2012. The Kazakhstan, Tajikistan and Uzbekistan it plans Government wants Hong Kong to become a to implement more than 80 investment proj- leading regional cruise hub. ects, worth US$20 billion. They will receive A Tourism Commission spokesman said the technical assistance worth US$50 million. new cruise terminal would be located at the southern end of the former Kai Tak airport run- I Professional Services Contact way, in the heart of Victoria Harbour. Directory, pages 24-28 Tenderers are expected to fulfill a minimum How the new terminal will look. requirement of three years’ immediate experi- COPYRIGHT © 2008 All material in ASIA TODAY ence in operating a cruise terminal, which has INTERNATIONAL is copyright. Reproduction in whole or in HONG KONG – The Hong Kong a minimum annual throughput of 200,000 part is not permitted without written permission of the Government has issued an open tender for embarking and disembarking homeport publisher, Asia Today International Pty Limited. development of a new, world-class, cruise ter- passengers.
ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 | 23 PROFESSIONAL SERVICES CONTACT DIRECTORY 2008
FOLLOWING is a listing of ATI subscriber firms Price Waterhouse Coopers SMEC wins major offering services into Asia. It is not a complete www.pwc.global.com listing, and others subscribers may wish to contracts in Doha forward entries for future publication. AUSTRALIA — Freshwater Place, 2 Southbank Blvd, Southbank, Melbourne, tel (61 3) 8603- and Afghanistan ACCOUNTING SERVICES 1000, fax (61 3) 8603-1999. Contact — Peter Collins, email [email protected] Also in DOHA – Australia’s Snowy Mountains KPMG Sydney, Brisbane, Perth and Adelaide. Engineering Corporation (SMEC), is supervis- CAMBODIA — 124 Norodom Boulevard, Sangkat www.kpmg.com ing sub-division development of one of the Tonle Bassac, Khan Chamcar Mon, Phnom AUSTRALIA — 10 Shelley Street, Sydney NSW 2000, Penh, tel (855) 2321-8086, fax (855) 2321-1594. most prestigious areas of Doha, the capital of tel (61 2) 9335-7000, fax (61 2) 9299-7077. Contact — CHINA — Level 26, Office Tower A, Beijing Qatar. The project, in Doha’s West Bay area, Michael Andrew, Chairman, KPMG Australia; Graeme Fortune Plaza, 7 Dongsanhuan Zhong Road, involves construction of 12.5 km of roads in Bailey, Chief Operating Officer, Asia Pacific. Chao Yang District, Beijing 100020, tel (86 10) the new diplomatic area known as Zone 66 – BANGLADESH — 9 Mohakhali Commercial Area, 6533-8888, fax (86 10) 6533-8800. Contact — the future site of 32 embassies – and an adja- 11th Floor, Dhaka 1212, tel (880 2) 9886-450-2, fax (880 Edward Shum, email [email protected] 2) 988-6449. Also in Dubai, Guangzhou, Shanghai, Shenzhen cent coastal area known as Zone 61. and Tianjin. Infrastructure development – which is BRUNEI DARUSSALAM — Unit 401-403A, 4th Floor HONG KONG — 21/F, Edinburgh Tower, The under two separate civil works contracts – Wisma Jaya, Jalan Pemancha, Bandar Seri Begawan Landmark, 15 Queens Road, Central, tel (852) BS 8811, tel (673 2) 228-382, fax (673 2) 228-389. 2289- 8888, fax (852) 2810-9888. Contact — Rod includes road works, water supply, surface Contact — Peter FY Chay, Partner (Singapore). Huong- Lee, email [email protected] water drainage and sewerage, electric power CAMBODIA — No.2 Street 208, Sangkat Boeung INDIA — Suite 9, 3rd Floor, 20-A Park Street, works, telecommunications, landscaping and Prolit, Khan 7 Makara, Phnom Penh, tel (855 23) 216- Calcutta 700016, tel (91 33) 2249-4680, fax (91 33) reticulation works, and construction of a large 899, fax (855 23) 216-405. 2249-0759. Contact — Rathin Datta, email [email protected] Also in Bangalore, underground pumping station. CHINA — 8th Floor, Office Tower E2, Oriental Plaza, Bhubaneswar, Chennai, Hyderabad, Mumbai, The underground works and trenching 1 East Chang An Avenue, Beijing 100738, tel (86 10) New Delhi, and Pune. require continuous de-watering because the 8508-5000, fax (86 10) 8518-5111. Contact — Francis INDONESIA — PT Prima Wahana Caraka, JI. Siu, Partner. site is founded on porous limestone and is only H.R. Rasuna Said Kav. X-7 No.6, Jakarta 12940, a few metres above sea level. The Zone 61 HONG KONG — 8th Floor Prince's Building, 10 tel (62) 21 521-2901. Contact — Haryanto Sahari, Chater Road, Central, Hong Kong tel (852) 2522-6022, email [email protected] Contract was completed last year, and the fax (852) 2845-2588. Contact — John Harrison, JAPAN — Kasumigaseki Building 15th Floor, 2- Zone 66 contract will be completed shortly. Chairman. 5 Kasumigaseki 3-chome, Chiyoda-ku, Tokyo SMEC is also providing post-contract con- INDIA — KPMG House, Kamala Mills Compound, 448 100-6015, tel (81 3) 251-2400. Contact — Hiroshi struction supervision services to Qatar’s Senapati Bapat Marg Lower Parel, Mumbai 400013, tel Ueno, email [email protected] Also in Fukui, Fukuoka, Gifu, Hamamatsu, Hiroshima, Public Works Authority, which is overseeing (91 22) 398-9600, fax (91 22) 398-3600. Contact — Russell Parera, Chief Executive Officer. Kagoshima, Kanazawa, Kohe, Kumamoto, development of the district. SMEC’s services Kyoto, Maebashi, Matsumoto, Matsuyana, INDONESIA — 35th Floor WISMA GKBI, 28, Jl. Nagano, Nagoya, Naha, Niigatu, Oita, Okayania, include general contract administration, site Jenderal Sudirman, Jakarta 10210, tel (62 21) 574- supervision, quality assurance and post-con- Osaka, Sapporo, Sendai, Tokyo, Ube, 0877, fax (62 21) 574-0313. Contact — Tohana Utsunomiya, Tamagata and Yokohama. tract quantity surveying. Widjaja, Managing Partner. KOREA — Kukje Center Building, 21st Floor, 191 In Afghanistan, more than 30 SMEC staff JAPAN — (KPMG AZSA & Co.) Azusa Centre Hangangro 2ga, Yongsanku, Seoul 140-702, tel are undertaking five projects in the highways, Building, 1-2 Tsukudo-cho, Shinjuku-ku, Toyko 162- (82 2) 709-0800. Contact — Ando Yun, email transport, water, environment and power sec- 8551, tel (81 3) 3266-7543, fax (81 3) 3266-7643. [email protected] Also in Kwangju, Pusan Contact — Masanori Sato, Partner. tors. Rehabilitation and expansion of and Taegu. KOREA — (Samjong KPMG Inc.) 10th Floor, Star MALAYSIA — Wisma Sime Darby, 11th Floor, Afghanistan’s urban electricity distribution Tower, 737 Yeoksam-dong, Gangnam-gu, Seoul 135- Jalan Raja Laut 50350 Kuala Lumpur, tel (60 3) 984, tel (82 2) 2112-0001, fax (82 2) 2112-0002. 2693-1077, fax (60 3) 2693-0997. Contact — Khoo Chuan Keat, email [email protected] c In Afghanistan, more LAOS — 4th Floor, KP Tower, 37 Thatluang Road, Also in Ipoh, Johor Bahru, Kota Kinabalu, Ban Phonxay, Saysettha District, Vientiane, tel (856 21) Kuantan, Kuching, Labuan, Melaka and Pulau than 30 SMEC staff are 900-344, fax (856 21) 900-347. Pinang. MACAU — 23rd Floor, D, Bank of China Building, PHILIPPINES — 29th Floor Philamlife Tower, undertaking five projects Avenida Doutor Mario Soares, Macau, tel (853) 2878- 8767 Paseo de Roxas, Makati City, tel (63 2) 845- 1092, fax (853) 2878-1096. Contact — Johnny Ng. 2728, fax (63 2) 845-2806. Contact — Myrna in the highways, trans- MALAYSIA (KPMG Desa Megat & Co.) — Wisma Fernando, email [email protected] KPMG Jalan Dungun, Damansara Heights, 50490 SINGAPORE — 8 Cross Street, 17-00, PwC port, water, environment Kuala Lumpur, tel (60 3) 2095-3388, fax (60 3) 2095- Building, Singapore 048424, tel (65) 6236-3388, 0971. fax (65) 6236- 3300. Contact — Michael C S Lim, and power sectors d email seow.chiang. [email protected] PAKISTAN (Taseer Hadi Khalid & Co.) — 1st TAIWAN — 23rd Floor, International Trade Floor, Sheikh Sultan Trust Building No. 2, Beaumont Building, 333 Keelung Road, Section 1, Taipei network is one of the biggest infrastructure Road, Karachi 75330, tel (92 21) 568-5847, fax (92 21) 110, tel (886 2) 2729- 6666. Contact — projects currently under way. SMEC has been 568-5095. Springfield T T Lai, email engaged as project manager by Afghanistan’s PHILIPPINES — 22/F Philamlife Tower, 8767 Paseo [email protected] Also in Chungli, de Roxas, Makati City 1226, Metro Manila, tel (63 2) Hsinchu, Kaohsiung, Taichung and Tainan. Ministry of Energy and Water. 885-7000, fax (63 2) 894-1985. Contact — Roberto G THAILAND — 15th Floor, Bangkok City Tower, The project, which initially included Kabul Manabat, Chairman & Chief Executive Officer; 179/74- 80 South Sathorn Road, Bangkok 10120, and 10 other urban areas, has been extended Emmanuel P Bonoan, Chief Operating Officer. tel (66 2) 344-1000/286-9999. Contact — Sukont to cover an additional six urban areas. The SINGAPORE — 16 Raffles Quay #22-00, Hong Leong Kanjanahuttakit, email sukont.kanjanahuttakit@ Building, Singapore 048581, tel (65) 6213-3388, fax (65) th.pwc.com improved electricity services will supply more VIETNAM — Saigon Tower, 4th Floor, 29 Le than five million people. The extended scope 6225-0984. Contact — Danny Teoh, Managing Partner. Duan Boulevard, District 1, Ho Chi Minh City, tel of works also includes contract preparation for (84 8) 823-0796, fax (84 8) 825-1947. Contact — rehabilitation and expansion of electricity SRI LANKA — 32A Sir Mohamed Macan, Markar Richard Irwin, email [email protected] Also in Mawatha, Colombo 3, tel (94 11) 2426-426, fax (94 11) Haiphong and Hanoi. services in the city of Mazar-e-Sharif. 2445-872. Contact — Rajan N Asirwatham, Senior In Kabul, SMEC has won an Urban Partner. Reconstruction Project to improve services in TAIWAN — 6th Floor, No. 156, Min Sheng East Road, chronically depressed neighbourhoods, and to Sec 3, Taipei 105, tel (886 2) 2715-9999, fax (886 2) improve the service delivery capabilities of 2715-9888. both the Kabul Municipality and the Ministry THAILAND — 48th Floor, Empire Tower, 195 South of Urban Development. SMEC has implement- Sathorn Road, Bangkok 10120, tel (66 2) 677-2000, fax (66 2) 677-2222. Contact — Kaisri Nuengsigkapian, ed a number of projects in Afghanistan since Chief Executive Officer. 2002, mostly providing development and VIETNAM — 10th Floor, Sun Wah Tower, 115 Nguyen reconstruction consultancy services, funded Hue, District 1, Ho Chi Minh City, tel (84 8) 821-9266, through the World Bank and the Asian fax (84 8) 821-9267. Contact — Warrick Cleine, Development Bank. Managing Partner.
24 | ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 CONTACT DIRECTORY 2008 PROFESSIONAL SERVICES
William Buck Chartered Accountants BUILDING AND CONSTRUCTION HONG KONG — 46/F China Online Centre, 333 Lockhart Road, Wanchai, tel (85 2) 2891-9917, www.williambuck.com.au fax (85 2) 2891-9927. Contact — Shane D’Arcy, AUSTRALIA — Level 2, 215 Spring Street, email [email protected] Melbourne, tel (61 3) 8663-6000, fax (61 3) 8663- JAPAN — tel (852) 9028-3110. Contact — Shane 6333. Contact — Ian Lee, email D’Arcy, email [email protected] [email protected] Also in Sydney, MACAU — EDF. Centro Commercial da Praia Brisbane, Adelaide and Perth. Grande, Avenida da Praia Grande No. 429, 25 D, CAMBODIA — Phnom Penh. Contact — Kuala tel (853) 2855-0413, fax (853) 2856-0019. Contact Lumpur office of GEP Associates in Malaysia. — Shane D'Arcy, email [email protected] CHINA (AGN China Regal CPAs) — Room 402, MALAYSIA — Suite E-11-05 & E-11-06, Wisma North Tower, Xin Mao Building, No.15 Finance www.bluescopesteelasia.com Sunrise, Plaza Mont’ Kiara, No.2 Jalan Kiara, Street, Xicheng District, Beijing 100032, tel (86 Mont’ Kiara 50480, Kuala Lumpur, tel (60 3) 10) 6655-3366, fax (86 10) 6655-3380. Contact — 6203-5113, fax (60 3) 6203-5112. Contact — Dato’ He Peigang, email [email protected] Also in AUSTRALIA (Head Office) — Level 11, 120 Peter Tan, email [email protected] Shanghai, Tianjin, Chongqing, Nanjing, Chengdu, Collins Street, Melbourne VIC 3000, tel (61 3) NEW ZEALAND — 541 Parnell Road, PO Box Jinan, Kunming and Hangzhou. 9666-4000. Also Asian Building & Manufacturing 99108, Newmarket, Auckland, tel (64) 9358-1746, HONG KONG (Chu & Chu CPAs) — Suite 1801-5, Markets, Suite 116, Jones Bay, Wharf 26-32, fax (64) 9358-1734. Contact — Bevan Brown, 18/F, Tower 2, China Hong Kong City, 33 Canton Pirrama Road, Pyrmont, Sydney NSW 2009, tel Martin Quartermaine, Patrick Hanlon, email Road, Tsim Sha Tsui, tel (852) 2815-1133, fax (61 2) 9292-6666. [email protected] (852) 2541-2170. Contact — Albert Wong, email BRUNEI DARUSSALAM (BlueScope Lysaght SINGAPORE — 452 North Bridge Road #07-00, [email protected] (Brunei) Sdn Bhd) — Industrial Complex, Beribi Singapore 188733, tel (65) 6338-8212, fax (65) INDIA (L. B. Jha & Co.) — DG-1 & EG-3, Phase 1, 6 km Jalan Gadong BE 1118, tel (67 32) 6338-6202. Contact — Melvin Aw, email singa- Gillander House, 8 Netaji Subhas Road, Calcutta 447- 155. [email protected] 700 001, tel (91 33) 2242-4277, fax (91 33) 2242- CHINA (BlueScope Buildings China) — 21 Bao THAILAND — 53/1 Soi Sukhumvit 26, Sukhumvit 0650. Contact — D. Chatterji, email Sheng Road, Songjiang Industrial Zone, Road, Klongton, Klongtoey, Bangkok 10110, tel [email protected] Also in Bombay and New Shanghai 201613 PRC, tel (86 21) 5774-1717. (66 2) 259-8545, fax (66 2) 259-8546. Contact — Delhi. INDIA (Tata BlueScope Steel Limited) — The James Bryce, Somchai Samleerangkul, email INDONESIA (Kanto, Tony, Frans & Darmawan) Metropolitan, Final Plot No. 27, Survey No. 21, [email protected] — Menara Kadin, 27th Floor, Jl. HR. Rasuna Wakdewadi, Shivaji Nagar, Pune 411005, tel (91 UNITED ARAB EMIRATES — PO Box 75450, Said, Blok X-5 Kav. 2-3, Jakarta, tel (62 21) 527- 20) 6621-8000. Office 403, The Atrium Centre, Khalid Bin Waleed 4657, fax (62 21) 527-4717. Contact — Jim S. INDONESIA (PT BlueScope Steel Indonesia) — Road, Dubai, tel (971 4) 355-1517, fax (971 4) 355- Darmawan, email [email protected] Also Deutsche Bank Building, 7th Floor Suite 701, 8736. Contact — Blair Martin, email in Malang and Surabya. Jalan Imam Bonjol, No. 80, Jakarta 10310, tel (62 [email protected] JAPAN (Hanai & Associates) — 3/F Shinozuka 21) 3983-1600. VIETNAM — Level 2, 127-129-129A Nguyen Hue Building, 2-27-16 Minami-Aoyama Minato-ku, Malaysia (BlueScope Steel Asia Sdn Bhd) — No Street, FIDI Tourist Office Building, District 1, Ho Tokyo 107-0062, tel (81 3) 3479-2560, fax (81 3) 6. Jalan Persiaran Kemajuan, Seksyen 16, Pusat Chi Minh City, tel (84 8) 914-1519, fax (84 8) 914- 3479-6095. Contact — Koichi Hanai, email Bisness Bukit Raja, 40800 Shah Alam, tel (60 3) 1518. Also at Level 13, 49 Hai Ba Trung Street, [email protected] 5519-2000. Hanoi Tower, Hanoi. tel (84 4) 934-3976, fax (84 4) KOREA (Seoil & Company) — 3/Fl. Shinyung MALAYSIA (BlueScope Steel (Malaysia) Sdn 934-3966. Contact — Bao Nguyen, email viet- Building, 46-10 Jamwon-dong, Seocho-ku, Seoul Bhd) — Lot 1551 Jalan Bukit Kapar, Kapar [email protected] 137906, tel (82 2) 3218-8012, fax (82 2) 3218- 42200, Selangor Darul Ehsan, tel (60 3) 3361- 8088. Contact — Hyung Moo Kim, email 6888. [email protected] PHILIPPINES (BlueScope Steel Philippines) — CONSTRUCTION/PROJECT MANAGEMENT MACAU (Wong Brothers & Co) — 19th Floor, 603 SEDCCO Building, 120 Rada, Corner Legaspi Mass Mutual Tower, 38 Gloucester Road, Street, Legasapi Village, Makati City, 1229, tel Wanchai, Hong Kong, tel (852) 2520-2701, fax (63 2) 817-0121. (852) 2861-3757. Contact — Ricky Wong, email SINGAPORE (BlueScope Lysaght (Singapore) [email protected] Pte Ltd) — 18 Benoi Sector, Jurong Town, MALAYSIA (GEP Associates) — 25 Jalan PJU Singapore 629851, tel (65) 6264-1577. 1/42A, Dataran Prima, 47301 Petaling Jaya, SRI LANKA (BlueScope Lysaght Lanka (Pvt) Selangor Darul Ehsan, Kuala Lumpur, tel (60 3) Limited) — 26 & 27 Sapugaskanda Industrial 7803-3390, fax (60 3) 7803-3502. Contact — Felix Estate, Pattiwila Road, Sapugaskanda, tel (94 11) Leighton Holdings Limited W. T. Gong, email [email protected] Also in 240-0611. www.leighton.com.au Penang and Johor Bahru. THAILAND (BlueScope Steel-Thailand Limited PAKISTAN (Riaz Ahmad, Saqib, Gohar & Co.) — — 7th Floor, Bangkok Thai Tower, 104/1 AUSTRALIA (Head Office) — 472 Pacific 5-Nasim C.H.S., Major Nazir Bhatti Road, Off Rangnam Road Payathai,Rajthevi, Bangkok Highway, St Leonards NSW 2065, tel (61 2) 9925- Shaheed-e-Millat Road, Karachi 74800, tel (92 10400, tel (66 2) 642-7155. 6666, fax (61 2) 9925-6000. Contact — Justin 21) 494-5427, fax (92 21) 493-2629. Contact — VIETNAM (BlueScope Steel (Vietnam) Limited) Grogan, General Manager, Investor & Corporate Gohar Manzoor, email [email protected] Also – 6th Floor, BITEXCO Building, 19-15 Nguyen Affairs, email [email protected] in Lahore and Faisalabad. Hue St., District 1, Ho Chi Minh City, tel (84 8) PHILIPPINES (Ramon F. Garcia & Co, CPAs) — 821-0066. 30th Floor, Burgundy, Corporate Tower, 252 Sen. (BlueScope Steel Buildings (Vietnam) Limited) Gil Puyat Avenue, Manila 1200, tel (63 2) 884 - — 5th Floor, BITEXCO Building, 19-15 Nguyen 2778, fax (63 2) 884-2789. Contact — Ramon F. Hue St., District 1, Ho Chi Minh City, tel (84 8) Garcia, email [email protected] 821-0121. SINGAPORE (Boon Suan Lee & Co.) — 220 FIJI (BlueScope Lysaght (Fiji) Limited) — 169- Orchard Road, #05-02 Midpoint Orchard, 171 Lakeba Street, Samabula, Suva, tel (67 9) Singapore 238852, tel (65) 6235-3388, fax (65) 338-2388. 6235-3168. Contact — Boon Suan Lee, email [email protected] SRI LANKA (Abeyratna & Co) — Sir Baron CONSTRUCTION COST CONSULTANTS AND www.leightonint.com Jayatilleke Mawatha, Colombo 1, tel (94 11) 238- QUALITY SURVEYORS [email protected] 5109, fax (94 11) 232-6754. Contact — Damian Sunil Abeyratna, email [email protected] LEIGHTON INTERNATIONAL (Dubai Head TAIWAN (EnWISE CPAs & Co.) — 8F-1, 130 Tai- Office) — Dubai Internet City, Ground Floor, Al- Yuan N. Road, Taichung 404, tel (886 4) 2296- Sa Building, Dubai, UAE, tel (971 4) 304-6333, fax 6234, fax (886 4) 2296-0607. Contact — Sporn (971 4) 304-6369. Contact – David Savage. Chen, email [email protected] Also in INDIA (Leighton Contractors (India) Pvt Ltd) — Taipei. 302-303, 3/F Windsor Building, CST Road, THAILAND (Thai Consultants Group) — www.pagekirkland.com Vidhyanagari Marg, Kalina, Santa Cruz (East), 2401/21 Soi 18, Ayodhaya Tower, Floor 15B, Off Mumbai 400 098, tel (91 22) 6719-0000, fax (91 Ratchadapisek Road, Huay Kwang, Bangkok 22) 6719-0199. Contact — Russell Waught. Also 10320, tel (66 2) 274-1686, fax (66 2) 692-8400. AUSTRALIA (Head Office) — The Podium Block No. 1, Unit A&B, Ground Floor Temple Contact — Kijja Summacarava, email kjja@tha- Building, 1 Market Street, Sydney, NSW 2000, tel Steps, 184-187 Anna Salai, Saldapet, Chennai iaudit.co.th. (61 2) 9283-7311, fax (61 2) 9283-7322. Contact — 600015, tel (91 44) 4311-4101/07, fax (91 44) Colin Richardson, Philip Kirkland, email 4311-4108. Contact — Simon Chivers. Radisson [email protected] Also in Brisbane, Commercial Plaza, Wing B, 2/F, A.B. Hotel Pvt Canberra, Coffs Harbour, Melbourne and Perth. Ltd, N.H.#8, New Delhi 1100037, tel (9111) 4608- CHINA — Suite 605, Kuen Yang International 8200, fax (9111) 2677-9427. Contact — Thomas Business Plaza, No. 798 Zhao Jia Bang Road, McGuire. Shanghai 200030, tel (86 21) 6473-9099, fax (86 21) 6473-9105. Contact — Richard Zhang, email shanghai@ pagekirkland.com CONTINUED PAGE 26
ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 | 25 PROFESSIONAL SERVICES CONTACT DIRECTORY 2008
FROM PAGE 25 INDIA (Thiess Leighton India Pvt Ltd) — THAILAND (Thai Leighton Limited) — 6/F SPC MALAYSIA (GHD Perunding Sdn Bhd) — 31B, Radisson Commercial Plaza, Wing B 4th Floor, Building, 1 Soi Chaemchan, Sukhumvit 55 Road, Jalan Lim Bo Seng, 30300 Ipoh, Perak, tel (60 5) National Highway #8, Mahipalpur, New Delhi 110 Bangkok 10110, tel (662) 714-8580, fax (662) 391- 241-4015, fax (60 5) 253-4625. Contact — Hong 037, tel (91 11) 4608-8200, fax (91 11) 2677-9427. 4503. Contact — Steve Bennet. Choong Kok, Office Manager – Ipoh. INDONESIA (PT Leighton Contractors VIETNAM (Leighton Contractors Asia MALAYSIA (GHD Perunding Sdn Bhd) — B-1566 Indonesia) — Ratu Prabu 1 Building, 9th Floor, (Vietnam) Limited) — Level 2, Kimdo Business Taman Lembaga, Jalan Beserah, 25300 Kuantan, Jl. TB Simatupang KAV 20, Cilandak Timur, Centre, 123 Le Loi Street, District 1, Ho Chi Minh Pehang, tel (60 9) 566-2463, fax (60 9) 566-2933. Jakarta 12560, tel (62 21) 7884-9611, fax (62 21) City, tel (848) 821-5524, fax (848) 821-5523. Contact — Ab. Rahman Hashim, Office Manager 7884-9622/23. Contact — Steve Wilson. Contact — Steve Bennet. - Kuantan. MALAYSIA (Leighton Contractors (Malaysia) GUAM (Leighton Contractors Inc.) — Suite 301, PHILIPPINES (GHD Pty Ltd) — 2nd Floor, 111 Paseo Sdn Bhd) — 14th Floor, Menara Multi-Purpose, East-West Business Center Building, 718 North de Roxas, Legaspi Village 1229, Makati City, Metro No. 8 Jalan Munshi Abdullah, 50100 Kuala Marine Corps Drive, Upper Tumon, tel (16 71) Manila, tel (63 2) 812-5129, fax (63 2) 812-5172, email Lumpur, tel (60 3) 2035-1788, fax (60 3) 2692- 648-2244, fax (16 71) 648-2247. Contact — Phil [email protected] Contact — Fraser Watt, 5388. Contact — Tony Harvey. Naughton. Operation Centre Manager – Southeast Asia. MALAYSIA (Leighton (Southeast Asia)) — 13th VIETNAM (GHD Pty Ltd) — 3 Phung Khac Khoan Floor, Menara Multi-Purpose, No. 8, Jalan Street, District 1, Ho Chi Minh City, tel (84 8) 520- Munshi Abdullah, 50100 Kuala Lumpur, 3444, fax (84 8) 829-4588, email Malaysia, tel (60 3) 2035-1688, fax (60 3) 2692- [email protected] Contact — Glen Reinsch, 4388. Contact — David Savage. General Director- GHD Vietnam Ltd. SINGAPORE (Leighton Contractors (Singapore) EGYPT (GHD Global Egypt LLC) — HiTeknoFal Pte Ltd) — #27-01, 3 Anson Road, Springleaf Building, 43R Section 6, Zahraa Maadi, Cairo. Tower, Singapore 079909, tel (65) 6471- Postal address - PO Box 304, Cairo 11728, tel 5751/52/56/57, fax (65) 6471-5755. Contact — www.thiess.com.au (202) 7537-215/216, fax (202) 7546-812, email Tony Harvey. [email protected] Contact — David Ryan, UNITED ARAB EMIRATES (Gulf Leighton LLC) Operating Centre Manager - Middle East, or Ihab — Level 2, Al Goze Building, Sheikh Zayed Road, AUSTRALIA ( Head Office) — 179 Grey Street, Inany, Cairo Office Manager, [email protected] Dubai, tel (97 14) 304-6333, fax (97 14) 304-6369. South Bank, Brisbane QLD, 4101, tel (61 7) 3002- Paul Morris, Business Development Manager. Contact — Graeme Dunn. Also Leighton 9000, fax (61 7) 3002-9009. Contact — Ray QATAR (GHD Global Pty Ltd) — City Plaza Contracting (Abu Dhabi) LLC — PO Box 94267, Wilson, email [email protected] Building, Al Sadd, Doha. Postal address - PO Box Office 1202, C2 Building, Seventh Street, Al INDIA (Thiess-Leighton India Pvt Ltd) Head 14352, Doha, tel (974) 432-2579, fax (974) 444- Bateen, Abu Dhabi, tel (971 2) 681-4355, fax (971 Office — Radisson Commercial Plaza, 4th 6127, email [email protected] Contact — 2) 681-4377. Floor, National Highway #8, Mahipalpur, New David Ryan, Operating Centre Manager, Middle Level 2 Regus Building, Airport End - D Ring Delhi 110037, tel (91 11) 4608-8200, fax (91 11) East, or Michael Kemp, Doha Office Manager, Road, Al Mataar Al Qadeen District QATAR 2677-9427. Also in RBD Building Unit-B, 5th [email protected] Paul Morris, Business (Leighton Contracting Qatar W.L.L. — – Doha, Floor, RDS Boulevard, Plot No. K1, Sector-V, Development Manager. PO Box 32316, Nadhee Rayyan Street, Old Block-EP & GP, Salt Lake, Kolkata 700 091. UAE (GHD Global Pty Ltd) — 302 Al Masaood Rayyan, Doha, tel (974) 4231-285, fax (974) 4231-288. INDONESIA (PT Thiess Contractors Indonesia) Tower, Airport Road, Deira, Dubai. Postal — JL TB Simatupang Kav 12, Pondok Pinang, address - PO Box 35972, Dubai, tel (971 4) 294- Jakarta 12310, tel (62 21) 7599-9999, fax (62 21) 9858, fax (971 ) 294-9740, email 7599-9800. Contact — Bruce Munro, email [email protected] Contact — David Ryan, [email protected] Operating Centre Manager Middle East, or Phillip Biggs, Dubai Office Manager, paul.mor- [email protected]" Paul Morris, Business Development Manager. CONSULTING ENGINEERS UAE (GHD Global Pty Ltd) — 905 Salah Bin Salah Building, Mamzar, Sharjah. Postal address - PO Box 67696, Sharjah, tel (971 6) 577- www.leightonasia.com 3300, fax (971 6) 577-3311, email [email protected] [email protected] Contact — [email protected]" Paul Morris, Business LEIGHTON ASIA (Hong Kong Head Office) — Development Manager. 39/F Sun Hung Kai Centre, 30 Harbour Road, UAE (GHD Global Pty Ltd) — Office 801, Lulu Hong Kong, tel (852) 2823-1111, fax (852) 2529- www.ghd.com.au Centre, Salam Street, Abu Dhabi. Postal address 8784. Contact — Hamish Tyrwhitt. - PO Box 45921, Abu Dhabi, tel (971 2) 696-8700, HONG KONG (Leighton Contractors (Asia) AUSTRALIA (GHD Pty Ltd) — 10 Bond Street, Sydney NSW 2000. tel (61 2) 9239-7100, fax (61 2) fax (971 2) 678-2824, email [email protected] Limited) — 39/F Sun Hung Kai Centre, 30 Contact — Alan Lindberg, Abu Dhabi Office Harbour Road, tel (852) 2823-1111 fax (852) 9239-7199. Contact — Bernard O’Brien, Chief Marketing Officer, email [email protected] Manager, or [email protected]" Paul 2529-8784. Contact — Mark Ashton. Morris, Business Development Manager. CAMBODIA (Leighton Contractors Asia CHINA (GHD Consulting (Beijing) Co Ltd) — 21 (Cambodia) Co. Ltd.): Units 39 & 40 Phnom F, Tower C, Xihuan Plaza, No 1 Xizhimenwai Penh Hotel, 53 Monivong Boulevard, Sangkat Avenue, Xicheng District, Beijing 100044, tel (86 Srah Chak, Khan Daun Penh, tel (855 23) 998- 10) 5930-1688, fax (86 10) 5930-1699, 706, fax (855 23) 998-706. Contact — Steve Bennet. [email protected] Contact — Jin Zhang Zou, CHINA (Leighton Projects Consulting Manager China. (Shanghai) Limited) — Suite 14B, 14/F, New CHINA (Changsha Office) — Unit 1210- 1212, Shanghai International Tower, 360 Pudong South The First Boulevard Building, No 2 Wuyi Western Road, Shanghai 200120,tel (8621) 5882-3345, fax Road, Changsha 410008, tel (86 731) 442-2238, (8621) 5882-4029. Contact — Michael Wright. fax (86 731) 441-7197. Contact — Min Bin, email CHINA (Leighton Projects Consulting [email protected] CHINA (Geo-Eng Yangtze Australia Co Ltd (Shanghai) Limited) — Room 1208-1210, 12/F www.meinhardtgroup.com Oriental Media Center, 4 Guanghua Road, (GEYA)) — Juiwanfang Zhaijiatiao, Jiangan Chaoyang District, Beijing 100026, tel (86 10) District, Wuhan, Hubei, 430010, tel (86 27) 8262- 6583-2727, fax (86 10) 6583-3915. Contact — 1789, fax (86 27) 8262-1788, email AUSTRALIA (Melbourne - Global Head Office) Michael Wright. [email protected] Contact — Xing Cao, — 501 Swanston Street, Melbourne VIC 3000, tel KOREA (Leighton Contractors (Asia) Limited) Office Manager. (61 3) 8676-1200, fax (61 3) 8676-1201, email con- — IKP Building, 300-6 Yomgok-dong Seocho-gu, HONG KONG (GHD Limited (previously Rankine tact@meinhardtgroupcom Contact — Phil Seoul, Korea 135-177, tel (822) 3497-1834, fax & Hill Hong Kong)) — Unit 3, 24/F Ciitcorp Treyvaud, Chief Executive Officer. (822) 3497-1634. Contact — Michael Griffin. Center, 18 Whitfield Road, Causeway Bay, tel (85 AUSTRALIA (Sydney) — Level 2, 400 Kent LAOS (Leighton Contractors (Laos) Co. 2) 3658-8000, fax (85 2) 3658-8088, email hkg- Street, Sydney NSW 2000, tel (61 2) 9699-3088, Limited) — 265 Bangalow Road, Phonesinouane [email protected] Contact — Jeff Fok. fax (61 2) 9319-7508, email contact.nsw@mein- Village, Vientiane, Lao P.D.R., tel (856 21) 415- INDONESIA (PT Global Hutama Desain) — 4th hardtgroup.com 356, fax (856 21) 415-357. Contact — Steve Floor, Suite 401, Wirausaha Building, Jl. H R AUSTRALIA (Brisbane) — Level 2, 135 Wickham Bennet. Rasuna Said Kav C-5, Jakarta 12940, tel (62 21) Terrace, Spring Hill 4000 QLD, tel (61 7) 3018- MONGOLIA (Leighton Mining and 2557-8000, fax (62 21) 522-9095, email 5000, fax (61 7) 3018-5099, email Infrastructure Mongolia Limited) — Room 511, [email protected] Contact — Greg Lee, Office [email protected] Gurvan Gal Trade LLC Building, Sukhbatar Manager, or Reviyeno Nasution, Business AUSTRALIA (Adelaide) — 60-70 Queen Street District 1st khoroo, Chinggis Avenue 8-1, Development Manager. Adelaide 5000 SA, tel (61 8) 8227-1544, fax (61 8) Ulaanbataar. Contact — Bruce Gardiner. MALAYSIA (GHD Perunding Sdn Bhd) — 22nd 8227-1488, email [email protected] PHILIPPINES (Leighton Contractors Floor, Putra Place, 100 Jalan Putra 50350, Kuala [email protected] (Philippines) Inc.) — 7/F L.V. Locsin Building, Lumpur, tel (60 3) 2332-3800, fax (60 3) 2332- CHINA (BEIJING) — Room 506, Blue Castle 6752 Ayala corner Makati Avenue, Makati City 3900, [email protected] Contact — Yoke International Centre, Tower 1, 3 West Dawang 1226, tel (632) 841-0998, fax (632) 811-0158. Keong Shin, Office Manager – Kuala Lumpur, or Road, Chaoyang District, Beijing 100022, tel (86 Contact — Phil Naughton. Hin Wai Woo, Business Development Manager. 10) 8599- 7976, fax (86 10) 8599-7186, email [email protected] Contact — Shaun Siow.
26 | ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 CONTACT DIRECTORY 2008 PROFESSIONAL SERVICES
CHINA (SHANGHAI) — 405 Universal Centre, 9514-1502, email [email protected]" ETHIOPIA — Bole Kifle Ketema, Kebek 5/6 175 Xiang Yang Road South, Shanghai 200031, tel [email protected] Canberra Unit 2, 10-14 House No 189, Addis Ababa, tel (2511 16) 621- (86 21) 5465-6118, fax (86 21) 5465-6128, email Wormald Street, Symonston ACT 2609, tel (61 2) 246, fax (2511 16) 621-247 email [email protected] Contact — Shaun Siow. 6126-1900, fax (61 2) 6126-1966, email sme- [email protected] CHINA (SHENZHEN) — 1316-1318 Guangyin [email protected] Brisbane Level 2, 60 GHANA — Ground Floor, Trinity House, Ring Building, 38 Futian Nana Road, Futian District, Leichhardt Street, Spring Hill QLD 4000, tel (61 7) Road East, Accra, PO Box AN 12674, tel (233 21) Shenzhen, 518045, tel (86 755) 8375-1558, fax (86 3230-3600, fax (61 7) 3230-3650, email smecb- 768-572, email [email protected] 755) 8339-8947, email [email protected] [email protected] Perth Level 6, 12 St George’s KENYA — Buru Buru Arcade, Mumias South Contact — WH Wong. Terrace, Perth WA 6000, tel (61 8) 9323-5900, fax Road, Nairobi, PO Box 41505 – 00100, tel (254 HONG KONG — 4th Floor, Wah Ming Centre, 421 (61 8) 9323 5901, email [email protected] 020) 201-6958, mob (254 733) 529-464, email Queen's Road West, Hong Kong, tel (852) 2858- Adelaide Level 24 Santos House, 91 King [email protected] 0738, fax (852) 2559-1613, email pam@mein- William Street, Adelaide SA 5000, tel (61 8) 8113- MOZAMBIQUE — 657 Ave Julius Nyerere, hardt.com.au Contact — Laurie Smith. 5351, fax (61 8) 8113-5352, email Maputo, tel (258 1) 415-572, fax (258 1) 312-796, INDIA (Meinhardt (Singapore) Pte Ltd) — India [email protected] North Queensland Ist email [email protected] Branch Office, A-8 Sector 16, Noida 201 301, Floor 514 Sturt Street, Townsville QLD 4810, tel UGANDA — 2321 Zziwa Drive, Ntinda-Buye, Uttar Pradesh, tel (91 120) 251-6165, fax (91 120) (61 7) 4771-6119, fax (61 7) 4771-6120, email Kampala, PO Box 9723, tel/fax (256 41) 286-356, 251-5745, email [email protected] Contact — [email protected] Gold Coast 40 email [email protected] Rajesh Srivastava. Commercial Road, Ashmore QLD 4214 (PO Box KUWAIT — Block 3, Street 307, Bldg 38, Al- INDONESIA — Grha Tirtadi 3/F, Jalan Raden 1111, Ashmore City QLD 4214), tel (61 7) 5503- Salaam Area, South Surra, Kuwait (PO Box 730 Saleh No. 20 10330, Jakarta, tel (62-21) 392- 1044, fax (61 7) 5532-0530, email Souk Al-Ameer, tel (965) 521-4916/17, fax (965) 9911, fax (62-21) 392-5995, email indo@mein- [email protected] 521-4918, email [email protected] hardt.co.id Contact — Djinadi Gunawan. AFGHANISTAN (Country Office) — House 01 MACAU — 4V Torre 3, EDF Hung On 1321 Avenida Road 01 (Behind Aryoob Cinema Hall), Karte- da Amizade, Macau, tel (853) 2872-5811, fax (853) Parwan, Kabul, mob (93 700) 218-286, email 2827-6247. [email protected] CONSULTING SERVICES MALAYSIA — Suite 59.01-9.07, Level 9, Amoda AFRICA (Regional Office) — Plot 314B, Off 22, Jalan Imbi, Kuala Lumpur 55100, tel (60 3) Kimweri Avenue, Msasani Village, Dar Es Salaam, Tanzania (PO Box 105866), tel (255 22) Australian Business 2710- 9488, fax (60 3) 2710-9489, email International Trade Services [email protected] Contact — Ir Dr Lim Boom 260-1596/97, fax (255 22) 260-1590, email Tiong. [email protected] www.australianbusiness.com.au PAKISTAN — D-91/3, KDA Scheme No.1 Main BANGLADESH (Regional Office) — House 374, AUSTRALIA — International Trade, 140 Arthur Tipu Sultan Road, Karachi 75350, tel (92 21) 454- Lane 06, DOHS Baridhara, Dhaka 1206, tel (880 Street, North Sydney, NSW 2060, tel (61 2) 9458- 1771, fax (92 21) 454-8670, email mail@mein- 2) 882-6223, fax (880 2) 882-7545, email 7456, fax (61 2) 9955-8914. Contact — Christine hardt.com.pk Contact — Farrukh Aslam. [email protected] Gibbs Stewart, email chris.stewart@australian- PHILIPPINES — 25th Floor, 116 Valero, Cor. VA CAMBODIA — House No. 24, Street 264, Phnom business.com.au Ruffino Street, Makati City 1227, tel (63 2) 887- Penh, tel (855 23) 362-672, fax (855 23) 217-943, INDIA — 3073/B-4, Vasant Kunj, New Delhi – 1391, fax (63 2) 887- 1172, email mpi@mein- email [email protected] 1100700, tel (91 11) (2689-5241), fax (91 11) hardt.com.ph Contact — Ferdinand V Naniong. CHINA — Room 4A1, 4/F Office Tower B, East 2689-8073. Contact — SP Joshi, Client SINGAPORE — 168 Jalan Bukit Merah, #09-01 Gate Plaza, 29 Dongzhong Street, Dongcheng Manager- India, email spjoshi@australianbusi- Surbana One, Singapore 150168, tel (65) 6273- District, Beijing 100027, tel (86 10) 6417-9008, fax ness.com.au web 5255, fax (65) 6274-0788, email [email protected] (86 10) 6417-9005, email [email protected] www.australianbusiness.com.au/trade_india Contact — Shazad Nasim. fo.net THAILAND — 15th Floor, Thanapoom, 1550 New HONG KONG — 14/F Hua Fu Commercial Petchburi Road, Makkasan Ratchevee 10400, Building, 111 Queens Road West, Sheung Wan, Bangkok, tel (662) 207-0568, fax (662) 207-0574, tel (852) 2517-1136, fax (852) 2540-3162, email email [email protected] Contact — John [email protected] Pollard. INDIA — 5th Floor, DLF Building No 8, Tower C, UAE (Dubai) — Gold & Diamond Park, Sheikh DLF Cyber City Phase II, Gurgaon 122002, Zayed Road, Building 4, Unit 130, PO Box 38349, Haryana, tel (91 124) 438-0042, fax (91 124) 438- Dubai, tel (971) 4341-6686, fax (971) 4341-6687, 0043, email [email protected] email [email protected] Contact — INDONESIA — Gedung NHB, 2nd Floor, Jalan UNSW Consulting and Expert Opinion Services Robert Stephens. Melawai Raya No. 14, Kebayoran Baru, Jakarta UAE (Abu Dhabi) — PO Box 46201, Abu Dhabi, 12160, tel (62 21) 720-6334, fax (62 21) 720-5724, www.consulting.unsw.edu.au United Arab Emirates, tel (971) 2632-4848, fax email [email protected] AUSTRALIA — Level 16, Mathews Building, The (971) 2634-4644, email [email protected] KAZAKSTAN — Room No. 312, 76/109 Abay University of New South Wales, Kensington, United Kingdom — 4th Floor, The Lightwell, 12- Avenue, 050057 Almaty, Kazakstan, tel (7 3272) Sydney NSW 2052, tel (61 2) 9385-3175, fax (61 16 Laystall Street, Clerkenwell EC1R 4PF, 581-718, fax (7 3272) 582-335, email [email protected] 2) 9662-6566, email [email protected] London, tel (44 20) 7278-7818, fax (44 20) 7837- MALAYSIA — Unit 509 Block B, Phileo 3512, email [email protected] Damansara II, Jalan 16/11 Section 16, 46350 USA (Texas) — Dallas, 5429 LBJ Freeway, Suite Petaling Jaya, Selangor Darul Ehsan, tel (60 3) ENGINEERING SERVICES 300 - LB129 75240, tel (1 214) 397-0211, fax (1 7955-0305, fax (60 3) 7955-2110, email 214) 397-0886, email info.dallas@meinhard- [email protected] tusa.com MONGOLIA — PO 49, Box 772, Ulaanbaatar, SPIRAC Pty Ltd 210349, tel (976) 9666-4886, fax (976) 1133-0480, USA (Miami) — Tower One, 101 NE Third Ave www.spirac.com Suite 1140, Fort Lauderdale 33301, Florida, tel (1 email [email protected] 954) 765-3433, fax (1 954) 765-3439, email PACIFIC REGIONAL OFFICE — 1st Floor 514 AUSTRALIA (Head Office) — 30 Cocos Drive, [email protected] Sturt Street, Townsville QLD 4810, Australia, tel Bibra Lake, WA 6163, te (61 8) 9434-0770 email VIETNAM — Maison Pasteur, 180 Pasteur (61 7) 4771-6119, fax (61 7) 4771-6120, email [email protected] Contact — Don Allanach, Street, District 1, Ho Chi Minh City, tel (84-8) [email protected] email [email protected] Also in 822-6789, fax (84-8) 822-6383. Contact — Dat PAKISTAN — 16B Kaghan Road, Sector F-8/4, Sydney, Melbourne and Brisbane. Chau. Islamabad, tel (92 51) 282-8316, fax (92 51) 226- HONG KONG (Tenson Engineering Ltd) - Room 1174, email [email protected] 908. 9/F, Nan Fung Commercial Centre, 19 Lam PAPUA NEW GUINEA — Section 58, Lot 3, Lok Street, Kowloon Bay, Kowloon, tel (852) Waigani Drive, Gordon NCD, tel (675) 325-1822, 2758-0878. Contact — Sammy Leung, email fax (675) 325-3780, email [email protected] [email protected] PHILIPPINES — Unit 1606 The Orient Square, JAPAN (Tomoe Engineering) — Art Village Emerald Ave, Ortigas Center, Pasig City, Metro Osaki Central Tower,2-2,Osaki 1- Chome www.smec.com.au Manila, tel (63 2) 631-6497/631-8726, fax (63 2) Shingawa-Ku TOKYO 141-0032. tel (81 3) 3271- 635-6676, email [email protected] 4092. Contact —Yoshito Honma, email [email protected] AUSTRALIA — Sydney, Level 6, 76 Berry Street, QATAR — Suite 10 Level 4, Eli France Building, Salwa Road, Ramada Signal Intersection, Doha, SINGAPORE (Puchaun Engineering Ltd) — North Sydney NSW 2060, ,tel (61 2) 9925-5555, Building 103 Boon Keng Road, 4th Floor 01/02 fax (61 2) 9925-5566, email smecnsw.enquiry- tel (974) 437-5290, fax (974) 437-5283, email [email protected] Kallang Basin Industrial Estate, 3379774 @smec.com.au Contact — Peter Busbridge, Singapore, tel (65) 6292-9233. Contact — Hang Chief Executive Officer, tel (61 2) 9925-5596, fax SRI LANKA — No 172, W A Silva Mawatha, Wellawatta, Colombo 06, tel (94 11) 236-6519, fax Tee Fong. (61 2) 9925-5566, email peter.busbridge@- UNITED ARAB EMIRATES (MENA WATER) — smec.com.au ; Neil Evans, Managing Director (94 11) 551-0685, email [email protected] UNITED ARAB EMIRATES — Level 1, Emirates Plot D3-11, Sharjah International Airport, SMEC Australia, tel (61 2) 992505620, fax (61 2) Sharjah United Arab Emirates, tel (97 1) 6557- 9925-5566 email [email protected] Holdings Building (behind Dana Hotel), Electra Street, Adu Dhabi, tel (971 2) 645-5684, fax (971 5507. Contact — Atif Gafer, Managing Director, Melbourne Level 5, 71 Queens Road, Melbourne email [email protected] VIC 3004, tel (61 3) 9514-1500, fax (61 3) 9514- 2) 645-5685, email [email protected] 1502, email [email protected] Contact — VIETNAM — 1st Floor Elegant Suites Building, Ross Hitt, Managing Director SMEC 19B Ha Hoi, Hoan Kiem District, Hanoi, tel (84 4) International, tel (61 3) 9514-1552, fax (61 3) 942-1956, fax (84 4) 942-1946, email [email protected] CONTINUED PAGE 28
ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 | 27 PROFESSIONAL SERVICES CONTACT DIRECTORY 2008
FROM PAGE 27 ENGINEERING SOLUTIONS Mallesons Stephen Jaques www.mallesons.com Heat and Control Pty Ltd www.claytonutz.com AUSTRALIA — Level 61, Governor Phillip Tower, 1 www.heatandcontrol.com Clayton Utz regularly advises overseas corporations on Farrer Place, Sydney NSW 2000, tel (61 2) 9296-2000, fax (61 2) 9296-3999, email [email protected] Heat and Control Pty Ltd is a global company strategies and structures for investing and doing busi- ness in Australia and handles foreign acquisitions and Contact — Scott Bouvier, email scott.bouvier@ focussing on the design, manufacture, installa- mallesons.com tion and service support of food processing and sales on behalf of local clients and multinationals packaging systems. across Asia. Our strong connections with leading firms HONG KONG — 37th Floor, Two International across the globe is enhanced by our membership of two Finance Centre, 8 Finance Street, Central, tel (852) AUSTRALIA — 407 Creek Road, Mount Gravatt prestigious international legal networks, the Pacific Rim 3443-1000, fax (852) 3443-1299, email Brisbane QLD 4122, Australia, tel (61 7) 3877- Advisory Council (PRAC) and Lex Mundi. Clayton Utz is [email protected] Contact — Larry Kwok, email 6333, fax (61 7) 343-8371. Contact — Ricky Ong, the only Australian firm that is a member of these two [email protected] email [email protected] leading international legal networks. CHINA — 2 Hengfei Road, Nanjing Economic and CHINA — Unit 2925, South Tower, Beijing Kerry Technological Development Zone, Xingang AUSTRALIA — Levels 19-35, No. 1 O'Connell Centre, 1 Guang Hna Road, Chao Yang District, 210042, Nanjing, tel (86 25) 8403-5000, fax (86 25) Street, Sydney NSW 2000, tel (61 2) 9353-4000, Beijing 100020, tel (86 10) 5927- 2188, fax (86 10) 8580-5033, Contact — Richard Feng, email fax (61 2) 8220-6700. Contact — David Fagan, 5927-2199, email [email protected] Contact — rfeng@heatandcontrol. cn email [email protected] or Stuart Clark, John Shi, email [email protected] email [email protected] SINGAPORE — 438 Alexandra Road, #12-03 CHINA — Unit 608-611, 1 Corporate Avenue, 222 Alexandra Point, Singapore 119958, tel (65) Hubin Road, Shanghai 200021, tel (86 21) 2308-7688, 6273- 6362, fax (65) 6273-8161. Contact — fax (86 21) 2308-7699, email [email protected] Richard Hong, email [email protected] Contact — Larry Kwok, email [email protected] INDIA — E2, 3rd Avenue, Anna Nagar East, Deacons Chennai 600 102, India, tel (91 44) 4210- 3950/3951, fax (91 44) 4210-3949. Contact — www.deacons.com.au Manoj Paul, email [email protected] AUSTRALIA — For information on our Asian capa- bility, please contact Kevin Hobgood-Brown, tel (61 2) 9330-8241, email Kevin.hobgood- [email protected] LEGAL SERVICES CHINA — (Deacons Beijing Representative Office), Suite 11, Level 8, Tower W1, The Towers, Oriental Plaza, 1 East Chang An Avenue, Dong Cheng District, www.minterellison.com Beijing 100738, tel (86 10) 8518-2338, email beijing@ deacons.com.cn Also in Guangzhou – email www.aar.com.au AUSTRALIA — Aurora Place, 88 Phillip Street, [email protected] and Shanghai – email Sydney, NSW 2000, tel (61 2) 9921-8888, fax (61 Allens Arthur Robinson had been providing legal [email protected] 2) 9921-8123. Contact — Julian Hill, email services for clients in Australia for more than 180 HONG KONG — 5th Floor, Alexandra House, 18 julian.hill@ minterellison.com years and in Asia for the past 30 years. Chater Road, Central, tel (852) 2825-9211, email CHINA — Suite 4006-4007, 40th Floor, CITIC AUSTRALIA — Level 28, Deutsche Bank Place, [email protected] Square, 1168 Nanjing Road West, Shanghai Cnr of Hunter & Phillip Streets, Sydney NSW INDONESIA — Sudirman Plaza, Indofood Tower, 7th 200041, tel (86 21) 6288-2171, fax (86 21) 6288- 2000, tel (61 2) 9230-4000, fax (61 2) 9230-5333, Floor, Suite 701, Surdirman Kav. 76-78, Jakarta 12910, 2172. Contact — Wan Li, email wan.li@minterel- email [email protected] tel (62 021) 5793-6699, fax (62 021) 5793-6619, email lison.com CAMBODIA — No. 11, Street 41, Sangkat Tonle [email protected] HONG KONG — 15th Floor, Hutchison House, 10 Bassac, Khan Chamcar Monn, Phnom Penh, tel Harcourt Road, Central, tel (852) 2841-6888, fax (855) 1290-6115. Contact — Gavin MacLaren, MALAYSIA — A-11-3A, Level 11, Megan Avenue, (852) 2810-0235. Contact — Sam Farrands, email [email protected] Jalan II Yap Kwan Seng, 50450 Kuala Lumpur, tel (60 email sam.farrands@ minterellison.com 3) 2166-3225, email [email protected] CHINA (Beijing) — Level 8, Unit 4, Office Tower INDONESIA (Associated Office – Makarim & E3, The Towers, Oriental Plaza, No. 1 East Chang SINGAPORE — 6 Tremasek Boulevard, 33-01/02 Taira S.) — 17th Floor, Summitmas Tower 1, JL An Avenue, Dong Cheng District, Beijing 100378 Suntec Tower Four, Singapore 038986, tel (65) 6224- Jenderal Sudirman 61-62, Jakarta 12190, tel (62 PRC, tel (86 10) 8515-0250, fax (86 10) 8515-0251. 7787, email [email protected] 21) 252-1272, fax (62 21) 252-2750. Contact — Contact — Seamus Cornelius, email TAIWAN — 7th Floor, Enterprise Building, 54 Chung Susie Beaumont, email [email protected] Shan North Road Section 3, Taipei 10451, tel (886 2) [email protected] CHINA (Shanghai) — 5/F HSBC Tower, 1000 2597-4521, email [email protected] Lujiazui Ring Road, Pudong New Area, Shanghai THAILAND — 16th Floor, Q House Sathorn, 11 South 200120 PRC, tel (86 21) 6841-2828, fax (86 21) Sathorn Road, Bangkok 10120, tel (66 2) 679-1844, 6841-2829. Contact — Nigel Papi, email email [email protected] [email protected] TressCox Lawyers HONG KONG — 49/F One Exchange Square, 8 www.tresscox.com.au Connaught Place, Central, tel (852) 2840-1202, AUSTRALIA — Sydney (Head Office) — Level fax (852) 2840-0686. Contact — Don Hess, email Freehills 20, 135 King Street, Sydney NSW 2000 tel (61 2) [email protected] www.freehills.com.au 9228- 9200, fax (61 2) 9228-9299, email con- INDONESIA — Widyawan & Partners Plaza tact_us@tresscox. com.au ; Melbourne — Level ABDA, 7th Floor, LI Jend Sudirman Kav 59, AUSTRALIA — MLC Centre, 19-29 Martin Place, 9, 469 La Trobe Street, Melbourne VIC 3000, tel Jakarta Selatan 12190, tel (62 21) 5140-1240, fax Sydney 2000 tel (61 2) 9225-5000, fax (61 2) 9322- 4000. (61 3) 9602-9444, fax (61 3) 9642-0382, email (62 21) 5140-1242. Contact — David Holme, Contact — John Curtis, email john.curtis@freehills. [email protected] ; Brisbane — email [email protected] com Level 39, Central Plaza 1, 345 Queen Street, PAPUA NEW GUINEA — Level 5, Pacific Place, INDONESIA (Correspondent Office — Brisbane QLD 4000, tel (61 7) 3004-3500, fax (61 Cnr Musgrave Street & Champion Parade, Port Soemadipradja & Taher) — Wisma GKB1 Level 9, Jl. 7) 3004-3599, email [email protected] Moresby, tel (67 5) 320-2000, fax (67 5) 320-0588. Jenderal Sudirman No.28, Jakarta Pusat 10210, tel (62 Contact — Vincent Bull, email 21) 574-0088, fax (62 21) 574-0068. Contact — Haydn [email protected] Dare, email [email protected] SINGAPORE — One Temasek Avenue, #35-01 SINGAPORE — 39 Robinson Road, #08-01 Robinson Millenia Tower, Singapore 039192, tel (65) 6535- Point, Singapore 068911, tel (65) 6236-9939, fax (65) 6622, fax (65) 6535-4855. Contact — Gavin 6538-2575. Contact — John Dick, email MacLaren, email [email protected] [email protected] Ignatius Hwang, email THAILAND — Siam Premier International Law [email protected] Offices, 26th Floor, The Offices at Central World, VIETNAM (Correspondent Office — Frasers) 999/9 Rama Road, Pathumwan Bangkok 10330, — Unit 2, 10th Floor, Saigon Centre, 65 Le Loi tel (66) 2646-1888, fax (66) 2646-1919. Contact — Boulevard, District One, Ho Chi Minh City, tel (84 8) Wadley Business Consulting Marcus Clark, email [email protected] 824-2733, fax (84 8) 824-2736. Contact — Mark www.wadley.com.cn VIETNAM (Hanoi) — Suite 401, Hanoi Towers, 49 Fraser, email [email protected] Hai Ba Trung, Hanoi, tel (84 4) 936-0990, fax (84 Wadley Business Consulting and Weir & 4) 936-0984. Contact — Bill Magennis, email Associates provide corporate advisory and legal [email protected] consulting services. VIETNAM (Ho Chi Minh City) — Suite 605, CHINA — Suite 5B, Crystal Century Tower, 567 Saigon Tower, 29 Le Duan Boulevard, District 1 Wei Hai Road, Shanghai 200041, tel (86 21) Ho Chi Minh City, tel (84 8) 822-1717, fax (84 8) 6288-7299, fax (86 21) 6288-7399. Contact — 822-1818. Contact — Nigel Russell, email Michael Wadley, email [email protected] [email protected]
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ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 | 29 ANOTHER LOW-COST CARRIER THE OTHER SIDE Shangri-La doubling-up Business in Shanghai Travel
HONG KONG – Shangri-La Hotels and Resorts will open two luxury hotels in Puxi, Perth. Qantas will also start two services week- Shanghai, in 2011, in the new Jing An Kerry CD meeting planner ly from Melbourne to Shanghai from March 11, Centre on Nanjing Road – a business, retail, HONG KONG – Shangri-La Hotels and and will increase its Honolulu services from entertainment, dining and conference complex Resorts has launched an interactive CD plan- three to four weekly from April 5. designed to become a city landmark in the ning tool in both English and Chinese for meet- heart of prestigious Jing An District. ing planners. The Signature Events CD details Carlson building Both hotels will overlook a 3,000-sq m “town benefits, destination attractions, meeting ven- square” central courtyard featuring pathways, ues, floor plans and capacities and worldwide brands in China gardens, water features and al fresco dining. sales and reservations contacts for Shangri-La, Within the courtyard, Shangri-La is working and is available free-of-charge from any SINGAPORE – Carlson Hotels with the Jing An District Government to restore Shangri-La hotel sales and marketing depart- Worldwide – Asia Pacific is to build a new and preserve an existing home in which ment or regional sales office. Radisson hotel in Liuzhou, the first of several Chairman Mao spent several months in 1920. new projects to bring Carlson hotel brands to The luxury Jing An Shangri-La, Shanghai will China’s second- and third-tier cities. open mid-2011 on the top 24 floors of a 58-storey 25% off on JAL The Radisson Hotel Liuzhou, scheduled to building, with the lower floors comprising open in February 2010, will be developed by restaurants, offices and retail shops. The 347 Mileage Bank the Sunshine 100 Real Estate Group, one of guestrooms will measure an average 62 sq m. TOKYO – Japan Airlines will celebrate China’s top property developers. Carlson The hotel will also house CHI, The Spa at recently announced a strategic partnership Shangri-La, the Group’s signature spa brand, two anniversaries of its JAL Mileage Bank fre- quent flyer programme in 2008 by offering with Sunshine 100, designed to double the health club and pool. hotel group’s portfolio in China. Shangri-La’s 600-room Jing An Kerry Centre members mileage discounts of up to 25% on JAL international air tickets and up to 26.7% on Liuzhou is a large secondary city (population Hotel, modelled on the Group’s Kerry Centre 1.3 million) in China’s southern Guangxi Hotel in Beijing, will open at the end of 2011. JAL domestic routes. The discounts will apply for international tickets booked online from Zhuang Autonomous Region, 255 km from the Facilities include a 3,100-sq m health club and provincial capital Nanning. Other targetted swimming pool with outdoor terrace. February 1 for travel between April 1 and June 30, 2008 and between December 1, cities include Tianjin, Chongqing, Shenyang, 2008 and February 28, 2009. For Yantai, Changsha, Nanning and Guilin. domestic tickets, discounts are Carlson currently manages nine hotels in available for travel during the same China under the Regent, Radisson and Park periods – excluding April 29-May 6 Plaza brands. A further five Carlson-managed and December 26, 2008 and hotels are under development. January 4, 2009. JAL launched Mileage Bank in the United States THAI global sale 25 years ago, and introduced the programme to Japan 10 years later. SYDNEY – Thai International is offering www.jal.co.jp/en/newjmb2008/ special fares to more than 70 destinations across its international network. Bookings must be I TOKYO – Japan Airlines made by February 29 for travel by June 22. will introduce its JAL Premium Fares from Sydney/Melbourne/Brisbane to Economy cabin on the Frankfurt – Bangkok or Phuket start from AUD659 (plus Tokyo (Narita) route from February taxes of AUD311). Other destinations (fares How the Jian An Kerry Centre, Shanghai will look 3. JAL Premium Economy was quoted are all plus taxes) include (left); Altitude Restaurant, Shangri-La, Sydney. launched on the airline’s daily flight Vietnam/Singapore/Malaysia, from AUD798 between London and Tokyo on return; Hong Kong and China, from AUD824; December 1, and will become avail- Taiwan/Philippines, from AUD862; Middle East Top food awards able in 2008 on US and Europe routes. from AUS1,297; Johannesburg, from AUD1,132; LONDON – Shangri-La Hotel, Sydney, JAL Premium Economy features the JAL Sky Europe (choice of 12 cities) from AUD1,330; Los has been named one of the best hotels in the Shell Seat, and offers 20 per cent more legroom Angeles and New York, from AUD1,613. world for food in the UK Conde Nast Traveller than economy class. Each seat comes with its Stopovers in Bangkok through Royal Orchid annual Gold List for 2008. Two other Australian own power outlet for personal computers, and a Holidays start from AUD58 per person hotels – Park Hyatt, Sydney and The seat tray that can accommodate a fully-opened overnight (including accommodation, break- Observatory Hotel, Sydney – also made the A4-sized laptop. JAL Premium Economy pas- fast and transfers), with extra nights from Gold List for the Australasia and South Pacific sengers can use dedicated check-in counters at AUD23 per person (with breakfast). region – in the best hotels for service category. Narita airport, and JAL Executive Class coun- Conde Nast readers nominated the x-factor ters at overseas airports, and, prior to the depar- Korean Air set to for Shangri-La, Sydney as the hotel’s signature ture, the JAL Sakura Lounge. Altitude Restaurant - for its dramatic views and launch Air Korea cuisine – and Café Mix for its diverse cuisine. Qantas lifts HK Earlier, Shangri-La’s Blu Horizon Bar was SEOUL – Korean Air, South Korea's largest named by the Australian Hotels Association as MELBOURNE – Qantas is to increase airline, is to launch a low-cost airline unit in Australia’s Best Bar for 2007. services between Melbourne and Hong Kong May, competing with other Asian budget carri- In the Conde Nast awards, Shangri-La Hotel, by three to 10 flights weekly from April 1. ers to lure passengers in the region. Tentatively Dubai, was named best hotel for service in the Qantas offers double daily flights to Hong Kong named Air Korea, it will offer only short interna- Africa, Middle East and Indian Ocean region. from Sydney, four from Brisbane and three from tional routes to Japan, Thailand and Malaysia.
30 | ASIA TODAY INTERNATIONAL FEBRUARY/MARCH 2008 THE OTHER SIDE IATA sees 2008 downturn for ADDRESSING world aviation THE BUSINESS GENEVA – The International Air Transport Association (IATA) has sharply revised down- ward its financial outlook for 2008 for the global ISSUES THAT aviation industry to US$5.0 billion from a previ- ously forecast US$7.8 billion. The spike in fuel prices is expected to add US$14 billion to the industry fuel bill, driving it MATTER . . . up to US$149 billion (based on an average price of US$78 per barrel), while the broadening ASIA TODAY INTERNATIONAL MAGAZINE impact of the credit crunch is expected to slow revenue growth to 4.7 per cent and traffic offers a different perspective on Asia. We look for- growth to 4.0 per cent. Simultaneously, capacity ward, assessing issues with potential to impact on exist- expansion is expected to accelerate in 2008, ing and future business. We draw views and perspec- with an increase in aircraft deliveries to 1,281 tives from Asia’s most influential business and govern- (up from 1,041 in 2007). The outlook is unchanged for 2007 at US$5.6 ment leaders - decision-makers and policy-makers. We billion, IATA says. Higher oil prices (full-year identify emerging business opportunities. average forecast of US$73 per barrel) were offset For 25 years now, ATI MAGAZINE has served execu- in 2007 by strong traffic growth (5.9 per cent for passenger traffic) and even stronger revenue tives with cross-border interests in Asia. Traders, growth of 8.4 per cent. investors, manufacturers, miners, accountants, archi- “For the first time since 2000, we are prof- tects, civil engineers, educators together with their itable. That is good news, representing a lot of service providers – in travel and hospitality, logistics hard work by airlines. Since 2001, non-fuel unit costs dropped 16 per cent, labour productivity and supply chain management, information technol- is up 64 per cent, and sales and marketing unit ogy, consulting, planning . . . costs decreased 25 per cent. But with a 1.1 per Last year we launched ATI MAGAZINE ONLINE to cent margin, the bottom line is still peanuts,” says Giovanni Bisignani, IATA’s Director complement our daily online updates and a weekly General and CEO. “The challenges get tougher subscriber e-brief pointing to upcoming business events. in 2008. A favourable economic environment Join our subscriber network today to qualify for a free and effective efficiency measures helped miti- online listing of the products and services you offer, gate the impact of high fuel prices and under- pinned profitability improvements (in 2007). giving you direct access to buyers in Asia – With the credit crunch, that is changing. The and the world. Subscribe online at peak of the business cycle is over and we are www.asiatodayinternational.com or email still US$190 billion in debt,” said [email protected] with your contact details. Bisignani.
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