Thailand - Thais must agree democracy is worth saving

Thailand is sliding into anarchy, which from experience has meant intervention.

Following a spell of military rule, elections will be called or, more likely, forced on the caretakers. A government could also be appointed via some constitutional artifice.

What follows has not varied much - dissatisfaction over blatant or exaggerated misrule brings the establishment class and the masses into open conflict again, to be resolved temporarily by applying a variation of the old formula. The polarisation in the stand-off between the Puea Thai government and the Democrat Party-inspired insurrection shows that the country is more divided than ever - but mind the attendant dangers.

Will Thailand ever get off the wearying cycle of self-flagellation? Its Asean partners admire the Thai insouciance and the nation's immense gifts, but are dismayed the country is being torn apart by feudal notions of class distinction, demonstrated in an inability to acknowledge the existence and interests of the other.

The worry is that a Thailand that continues on this course would destroy itself, with Asean the loser. If the election called by Prime Minister Yingluck Shinawatra does not produce an outcome that is accepted by all Thais, are there alternatives?

Indefinite military rule is anathema to most Thais as it is unnatural, unwanted, and its past record has not been exemplary. A grand coalition, or a government of national unity, is an idea that could be explored, however far-fetched it may sound.

But Thailand's party political tradition is not strong, and it lacks enough leaders of vision and unquestioned devotion to the idea of equal opportunity. As for rule by the unelected, it could never hold for lack of majority consent.

Would a return to an absolute monarchy be acceptable, as the royal house commands respect while past civilian and military choices have mostly been disappointing? But after the reign of King Bhumibol Adulyadej is over, how the Thais would regard such a scenario is unknown.

There is another unspeakable, remote possibility - civil war that could lead to a break-up of the kingdom. The present deadlock is different in that there is little room for compromise.

The elites insist on a right to rule, whichever form it takes. The pro-government red shirts, who have felt patronised and put upon, have spoken the first murmurs about secession if a re-elected Puea Thai party were cast aside, or an unelected claque were foisted on them. If the election is disrupted or put off, or results that favour the incumbents are voided, Thailand will have entered a fateful phase.

May it never happen? But Thais of all beliefs and classes need to concede it is the idea of democracy they are fighting for, not one another

The Straits Times/ANN, Singapore

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Thailand - Thailand's New Year resolution: get healthy for AEC

Corruption and political crisis threaten our chances of benefiting from regional economic integration

New Year is a good time to start anew, but the arrival of 2014 is a reminder that Thailand and our neighbours have just one year left before the Asean Economic Community (AEC) hits the launch pad. For Thailand, the ongoing political crisis makes the need for preparations more urgent. There has been a lot of talk, but now it's time for actions that embrace the AEC. The final countdown is approaching and any country with a good head-start will benefit from the regional pact.

Economic integration is expected to improve competitiveness by transforming the Asean countries into a single market and production base. If Thailand is to benefit from the free flow of goods, trade, investment, capital and labour, it needs improvements in key areas.

The challenge ahead has been made bigger by Thailand's ongoing political crisis, while the government has done far too little to pave the way for the AEC.

First and foremost, the country must sort out systemic corruption across business and in government. We also need education reform, as well as strong visions for business. All these requirements are interrelated and must be executed simultaneously if we are to be competitive enough to succeed in the AEC.

Corruption remains widespread and rampant, as Transparency International's most recent survey revealed. Thailand fell from 88th to 102nd this year and now languishes behind four Asean neighbours - Singapore (5th), Brunei (38th), Malaysia (53rd) and the Philippines (82nd). The rankings plunge is an alarm bell for Thai authorities, who must now take act serious actions to combat high-level graft. Among the most notoriously corruption-tainted last year were the water management and rice-pledging schemes.

Thailand could learn lessons from its neighbours' successful graft-eradication programmes. But without genuine political will, measures will remain ineffective. The anti-corruption drive must begin at a structural level: laws must be clear-cut, giving the least room possible for political exploitation. Graft-busters must be empowered, depoliticised and given society's full support. Otherwise, the opportunities that arrive with the AEC will pass Thailand by.

Like corruption, education in Thailand gets a poor review. We rank worst among the eight Southeast Asian countries evaluated in the World Economic Forum Global Competitiveness Report for 2012-2013. The frequent change of education minister and lack of visions have taken their toll. Four ministers in the space of two years under one government has hardly helped launched reform, let alone continue it.

Obviously, education in Thailand needs to be fixed quickly and sustainably if we are to keep pace with our neighbours. That English will be the official language of the AEC should also ring alarm bells, with Thai students still lagging behind. Our future generations will need English more than ever when free flow of labour puts them in direct competition with their Asean peers.

More important still, our government needs vision. The government often allows the private sector to take advantage of mega-projects. Such practice breeds a vicious circle of nepotism, corruption and government incompetence. For models here, Thailand need look no further than Singapore and Hong Kong, where governments take the lead and gain great benefits from their development plans.

But first and foremost, we must put our political house in order. The consequences of failing to do so will be grave: Investors will be scared away, while local businesspeople will suffer from lack of guidance and support. It will be impossible for Thailand to take advantage of the free flow of trade, investment, production and human resources if it remains at its relatively low level of competitiveness.

Thailand has a mountain to climb. The AEC is a summit worth aiming for, but only the strongest "mountaineers" will reach the top and enjoy the great view. The question is, can Thailand shirk its "sick-man" status quickly enough this year to ascend to the summit and enjoy the benefits along with other Asean nations?

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ASEAN - 2013 Top 10 Southeast Asian News

China Radio International, in collaboration with leading national media outlets from Southeast Asia, selects the top 10 news stories in Southeast Asia in 2013. 

ADMM-Plus Drill

Member countries of the ASEAN Defense Ministers Meeting Plus (ADMM-Plus) jointly held the first drill from 17 to 20 June. Ten members from ASEAN and 18 other countries including China participated in the drill which kicked off in Brunei's capital Bandar Seri Begawan.

Southeast Asia Haze

Environment Ministers from 5 Southeast Asian countries including Malaysia, Singapore, Indonesia, Brunei and Thailand, held a meeting to discuss the haze problem on 17 July in Malaysia's capital Kuala Lumpur. Thick clouds of haze were caused by wildfires set ablaze by unidentified parties in the Indonesian island of Sumatra.

Amendments and Aung San Suu Kyi

Myanmar set up a review committee comprising of 109 senators to amend its constitution from 25 July. Aung San Suu Kyi declared her intention to run for president in the 2015 elections despite the constitution of Myanmar prohibiting people whose spouses or children hold foreign citizenships from serving in high-ranking political positions. Her late husband and two sons all hold British citizenships.

The Code of Conduct in the South China Sea

China and ASEAN countries discussed the Code of Conduct in the South China Sea from 14 to 15 September. The meeting was held in Suzhou in east China's Jiangsu province and achieved positive developments over disputes in the South China Sea.

China and ASEAN Countries

China's new leaders successively visited Southeast Asian countries. Chinese President Xi Jinping first visited Indonesia and Malaysia and then attended APEC meetings in Bali, Indonesia from 2 to 8 October. Premier Li Keqiang carried out a set of visits to Brunei, Thailand and Vietnam from the 9th to 15th of the same month. Both moves are believed to signify friendly relations and cooperativeness between China and ASEAN countries.

PRISM-Gate in Southeast Asia

PRISM-gate further developed in Southeast Asia. Australian media, quoting Edward Snowden, revealed that Australia and Singapore were involved in the U.S. global network of surveillance over Indonesia, Malaysia, the Philippines, Thailand and Vietnam. Indonesia then cut off many bilateral deals with Australia.

Typhoon Haiyan

Typhoon Haiyan hit the central Philippines on 8 November. The disaster is said to have affected over 14 million people with 6,155 dead, 1,785 missing and more than 27,000 injured as of 29 December.

The Preah Vihear Temple

The International Court of Justice in the Hague, the Netherlands, reached a verdict on the sovereignty disputes over the Preah Vihear Temple on the border between Thailand and Cambodia on 11 November. The verdict further explains an earlier decision over the issue made in 1962 and defines the border line in the area. The court confirmed Cambodia's sovereignty over the entire area while Thailand was ordered to withdraw its army and police forces. Both sides agreed on the decision.

Thailand Political Protests

Yingluck Shinawatra, the current Prime Minister of Thailand, is faced with the most serious crisis of her office. Protests have been ongoing since November as they believed a proposed amnesty bill would lead to the return of former PM Thaksin Shinawatra, Yingluck's brother. Nationwide demonstrations then led Yingluck to dissolve parliament and call an early election, to be held on 2 February 2014.

The Bali Package

The Bali Package was agreed upon in the Ninth Ministerial Conference of the WTO in Bali, Indonesia. The package is believed to be a breakthrough from the deadlock of the Doha Development Round. It is also the first trade agreement reached through the WTO that has been approved by all its members.

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ASEAN - EU-ASEAN Ties: Supporting, Sharing and Inspiring

Jakarta (Antara News) - The European Union (EU) and the Association of South East Asian Nations (ASEAN) have been working closely to strengthen the ASEAN-EU Partnership and to support ASEANs goal of building ASEAN Community by 2015 and beyond.

ASEAN and EU are both often seen as examples of two successful regional groups. However, ASEAN and the EU have very different historical backgrounds, development levels and perspectives as well as approaches on political, economic and security issues.

Officials of ASEAN often stated that it would not follow EU-style regional integration but is willing to learn from EUs long and valuable experiences in developing the European Community particularly regarding its integration and community building.

Since early 1950s, EU has been a pioneer in regional integration and has long been the most developed model of regional integration.

Whereas, only in 2003, during the Ninth ASEAN Summit in Bali, Indonesia, ASEAN Leaders resolved to establish an ASEAN Community comprising three pillars: ASEAN Political-Security Community (APSC), ASEAN Economic Community (AEC), and ASEAN Socio-Cultural Community (ASCC).

EU is a developed international society that has established common policies, institutions, and legal frameworks from which its identity stems.

The 28 member nations of EU have frequently agreed to pool part of their sovereignty and give it to the European Commission, whereas the 10 member nations of ASEAN embark on regional cooperation in an effort to protect and uphold sovereignty of members.

ASEAN remains strictly inter-governmental cooperation and there is no indication of interest in sovereignty sharing among its members.

"ASEAN Community is different from the European Community. In ASEAN, we look for closer cooperation," Danny Lee, the Director for Community Affairs Development of the ASEAN Secretariat, told 22 ASEAN journalists participating in a workshop on "Reporting on Regional Integration and ASEAN" organized on December 13-14, 2013 by EU Center in Singapore, and supported by Konrad Adenauer Stiftung (KAS), and the Asian Media Information and Communication Centre (AMIC).

Despite those differences, EU is one of ASEANs first dialogue partners. In fact, EU is the only regional grouping that has become ASEAN Dialog Partner, while the nine other ASEAN Dialog Partners are individual countries - Australia, Canada, China, Japan, New Zealand, Russia, South Korea, the United States and India.

Established in 1967, ASEAN groups Indonesia, Thailand, Singapore, Malaysia, the Philippines, Brunei Darussalam, Vietnam, Cambodia, Myanmar and Laos.

Founded in 1957, EU consists of Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom - with a total population of over 500 million.

Informal dialogue between ASEAN and EU was established in 1972, which was primarily aimed at gaining access to European markets for most ASEAN members exports.

Relationship between the two regional organizations was elevated to a higher level with the first ASEAN-EC Ministerial Meeting (AEMM) in 1978, which later became a regular meeting.

In March 2007, at the 16th ASEAN-European Ministerial Meeting (AEMM) in Nuremberg, Germany, the foreign ministers agreed to pursue enhanced partnership between the two blocs having a total population of over 1.1 billion.

In the area of economic cooperation, some activities proposed include advancement of the ASEAN-EU Free Trade Agreement (FTA) negotiations. However, a regional ASEAN-EU FTA has to be halted for reasons such as Myanmar human rights issue and development gaps in ASEAN.

EU later decided to negotiate bilateral FTAs with individual ASEAN member states, starting with Singapore. The final negotiations for FTA between Singapore and the EU were completed in December 2012, and both parties initialled the text on 20 September. The EU is negotiating Free Trade Agreements with Malaysia, Vietnam and Thailand.

The EU is now ASEANs second largest trading partner and biggest source of foreign direct investment (FDI). ASEAN is the EUs sixth largest external trade partner. ASEAN and EU are major trading partners with 206 billion Euros of trade in goods and services.

Southeast Asian companies are now also making forays into Europe, according to Dr Yeo Lay Hwee, the director of EU Center in Singapore, in her writing entitled "How Should ASEAN Engage the EU? Reflection on ASEANs External Relations".

Trade and investments ties between the two regions have grown tremendously over the past several years. Investments from ASEAN into the EU have increased from 27.7 billion Euros in 2006 to 71.9 billion Euros in 2010.

In the Bali Summit 2003, ASEAN Leaders signed a declaration known as the Bali Concord II, which describes the ASEAN Economic Community as a single market and production base to allow goods, services and production factors such as capital, investment and labor to flow freely within the region in order to achieve upper economic integration level and institutional advancement.

ASEAN Economic Community (AEC) aims at deeper and broader economic integration between ASEAN member countries.

Having a population of around 600 million people, ASEAN is an attractive market for EU. Therefore, EU is interested in seeing ASEAN as more dynamic and competitive by establishing a single market and production base and promoting deeper regional integration.

EU is one of ASEANs major financial donors as ASEANs budget is very limited and it has to rely on some of its dialog partners to implement several activities.

During the 19th ASEAN-EU Ministerial Meeting (AEMM) held in Brunei Darussalam in April 2012, the two regional groupings agreed on a Plan of Action to Strengthen the ASEAN-EU Enhanced Partnership for 2013-2017.

In the Plan of Action, EU is committed to supporting ASEANs goals of regional integration and community building, including enhanced ASEAN connectivity to underpin the ASEAN Community.

EU has established a four-year Regional EU-ASEAN Dialogue Instrument or READI, and ASEAN Regional Integration Support by the EU or ARISE, according to Stefan Hell, the Team Leader of the Regional EU-ASEAN Dialogue Instrument, in the workshop.

ARISE (2013-2016) is aimed at supporting the implementation of key regional integration initiatives prioritized in the Master Plan for ASEAN Connectivity to build the ASEAN single market and production base. It also helps strengthen the capacity building of the Jakarta-based ASEAN Secretariat.

Meanwhile, the objective of READI (2011-2015) is to support ASEAN integration through the support of the ASEAN community blue prints, drawing on European experience and know how through sectoral policy dialogue and knowledge development.

Four dialogue sectors have already been identified for READI support, namely Information and Communication Technology, Energy, Science and Technology, and Disaster Management.

European Union Ambassador to Singapore Dr Michael Pulch told the ASEAN journalists that "At the end, we hope to see the realization of EU-ASEAN Free Trade Agreement."

He also assured that EU is ready to help ASEAN increase connectivity by providing financial support to build infrastructure. Connectivity is very important in narrowing development gaps and ensuring better flow of ASEAN peoples and goods.

The EU ambassador expressed his optimism that ASEAN Community will become a better grouping, one day, with more power to face globalization.

"Let's hope that EU will become an example or inspiration for ASEAN," Pulch told the ASEAN journalists participating in the two-day workshop.

One of the EUs greatest success stories is market integration allowing free movement of people, goods, services and capital). Citizens all have a similar EU passport.

The European Union has set itself the objective of becoming the most competitive and dynamic knowledge-based society in the world. As a result, education, professional training and support for young people have become three major priority areas.

Environmental preservation has also become one of EUs priorities in order to safeguard quality of life for current and future generations. The regional grouping has also embarked on the ambitious project to combine environmental protection and economic growth.

One of the latest EUs policies that could also be another inspiration for ASEAN is the abolition of mobile roaming charges within the EU which will be realized in mid-2014.

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Indonesia - Businessmen to Asean: AEC what? Explain further

Companies surveyed by the Asean Business Advisory Council said they felt that the dissemination of information on the Asean Economic Community Blueprint and its implementation could have been done better.

Respondents from 502 companies expressed “slightly above-average satisfaction” with the bloc’s overall implementation of the blueprint across 16 selected policy areas except one: dissemination of information.

The survey scored responses from a scale of one (low) to five (high). On average, the overall implementation of the Asean Economic Community (AEC) was scored at 3.11, according to the Asean BAC.

Respondents were least satisfied with the dissemination of information which scored 2.97 and the consultation with businesses on AEC initiatives at 3.07.

Areas that respondents were most satisfied with was the elimination of tariffs (3.36), followed by the protection of investors and their investments (3.30), promotion of joint investment missions that focus on regional clusters and production networks (3.29) and increasing foreign equity participation in services sectors (3.29).

According to the Asean BAC, small firms were also relatively not as satisfied with measures relating to establishing transparent, consistent and predictable investment rules. Medium-sized firms were also less satisfied with areas relating to enhancing cooperation in regional infrastructure development as well as enhancing the competitiveness and dynamism of Asean small and medium enterprises.

Companies in different countries also expressed dissatisfaction in implementation in different areas.

Brunei and Philippines “expressed less satisfaction” with efforts to enhance national competition to create a fair competition environment.

Indonesia and Myanmar were not as satisfied with how the AEC “enhance cooperation in regional infrastructure development”, Laos and Malaysia were less satisfied with efforts to simplify customs procedures while Thailand and Vietnam were less satisfied with Asean’s efforts in reforming rules of origin.

Companies in Singapore were “less satisfied” with Asean’s efforts relating to the establishment of transparent and predictable investment rules.

“This is consistent with the findings in the Surveys on Asean Community Building Effort 2012 conducted by the Asean Secretariat (2013), where businesses across Asean countries held the view that Asean could do more in organising promotional activities to garner interests and raise awareness through the media,” said the Asean BAC.

“They also felt that the channels being used were not sufficiently effective and instead should be more tailored for the target audience, taking into account language barriers and educational level differences among others,” it said.

In its policy recommendations, the Asean BAC “strongly urged” the regional grouping to intensify its engagement with the business community, by strengthening the process of information dissemination and consultation with businesses on AEC initiatives, which have been consistently rated by respondents of the survey and its successors as being among the least satisfactory areas of AEC Blueprint implementation.

Koo Jin Shen

The Brunei Times/ANN

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ASEAN - Asean Envoys Look Forward To AC in 2015 under Malaysia's Chairmanship

KUALA LUMPUR, Dec 31 (Bernama) -- Association of Southeast Asean (Asean) envoys based in Malaysia are looking forward towards the establishment of the "Asean Community" (AC) in 2015, marking the year when Malaysia will chair the 10-member bloc.

They are confident that under Malaysia's chairmanship, Asean members would reach a new level of cooperation. The AC is expected to materialise by December 2015.

Indonesian Ambassador to Malaysia Herman Prayitno said that both Indonesia and Malaysia have been preparing for the setting up of the AC in 2015, especially the Asean Economic Community (AEC).

"That year will be very important for Malaysia as it is when the country will assume the Chairmanship of Asean. We are fully confident that under Malaysia's chairmanship, all Asean member states are prepared to enter a new era as a community," said the envoy in his "New Year Message" on bilateral ties.

The Asean Community has three key pillars -- Political and Security community, Economic community and Socio-Cultural community. All three aspects are closely intertwined and mutually reinforcing, aimed at ensuring durable peace, stability and achieving a shared prosperity in the region.

However, the envoy noted that the focus was on the AEC which would see the region emerging into a dynamic single market and production base.

Other key characteristics of the AEC include a highly competitive economic region, a region of equitable economic development, and one fully integrated into the global economy.

Singapore's High Commissioner to Malaysia Ong Keng Yong said that Singapore was looking forward to working together to realise the aspirations of the Asean Community as Malaysia takes over the chairmanship of the association.

"Malaysia is already preparing to take cooperation within Asean to a new level," he told Bernama in an email interview.

Next year, it will be Myanmar's turn to chair the 10-member association comprising Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Brunei was the chair for 2013.

On bilateral cooperation, Ong said that Malaysia also continued to participate in Singapore's development and growth, including through joint projects, noting that Malaysian companies have invested in the Singapore market as they expanded their global operations.

In addition, he said that Singapore businesses are looking at investing in economic corridors elsewhere in Peninsular Malaysia and Sabah and Sarawak.

Meanwhile, European ambassadors said they hope to enhance trade relations with Malaysia.

Norwegian Ambassador Hans Ola Urstad said that he was very optimistic that direct trade between Malaysia and Norway will expand, especially in the oil and gas sector.

Norwegian interest in Malaysia's service sector stood at nearly RM4.5 billion in 2013, he said in an email interview when asked to comment on his hopes for 2014.

Urstad also said that the Norwegian "Government Pension Fund Abroad," which is now the world's largest fund with international assets totalling around RM2 trillion, has invested in nearly 80 Malaysian businesses valued at RM5 billion.

The envoy hoped to see further development in trade, services, businesses and investments between Malaysia and Norway in 2014, pointing out that the Norwegian economy had withstood the financial crisis "very well" and that Norway is now the 24th largest economy in the world.

Poland's Ambassador to Malaysia Adam W Jelonek said his country would like to see more connections with Malaysia and better exchange of experiences, mainly in the halal industry and higher education.

"To just open the Malaysia market to the Polish, I think it is the easiest part of work. For me, it is an ideal situation if we could exchange our bilateral efforts to form joint venture companies and exchange experiences in both fields," said Jelonek in an interview with Bernama about his aspirations for the New Year.

On the halal industry, Jelonek said that Poland would want to cooperate with Malaysia to access the country's halal industry, explaining that Poland not only produces halal food but also has a variety of halal cosmetic products, which are already gaining popularity in the Muslim world.

"As both countries have engaged through the exchange of expertise between Malaysia's Department of Islamic Development (Jakim) and the Mufti of Poland, we hope Poland's window or European market for the halal industry will bring more advantages to all of us," he said, adding that Poland was among the few European countries which were granted Jakim's halal certificate in 2011.

Danish Ambassador to Malaysia Nicolai Ruge noted that Denmark and Malaysia have been listed in the World Bank's annual report as being among the easiest countries in the world to do business in, scoring 5th and 6th spots respectively.

Amid such positive ratings, he said that more Danish companies are encouraged to start exploring potential markets in Malaysia.

Nabilah Saleh, Azzah Mohamad Som & Ismail Amsyar Mohd Said

BERNAMA

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Vietnam - Business survey stresses growing domestic confidence

VietNamNet Bridge – A national survey conducted by the Vietnam Chamber of Commerce and Industry has revealed growing business confidence for the new year.

The Vietnam Business Insight Survey (VBiS) of 700 firms across the country registered a plus seven point index for 2014, a gigantic leap from minus 21 points for 2013, revealing a dramatic leap in confidence among the business community.

According to VBiS results, 42.5 per cent of the surveyed businesses said they would expand their business in 2014, 50.7 per cent would maintain their current size while just 6.7 per cent would reduce the size of operations. Only a miniscule 0.1 per cent was preparing to halt operations.

Businesses claimed they would expand operations due to a favourable economic outlook (40.1 per cent), the availability of low-cost skilled labour (40.1 per cent), tax incentives (29.6 per cent) and greater market openness (28.2 per cent).

“Companies expect greater changes in the labour market as they believe they will be able to recruit good quality local labour for even important positions for the first time,” said VCCI representative Doan Thi Quyen.

VBiS also showed up to 44.3 per cent of the surveyed businesses suggested the government boost the development of support industries to help them in raising the added values of their products.

The survey also pointed to the fact that 65.2 per cent of businesses said they were interested in taking bank loans, compared to 57.3 per cent in 2012.

“Demand for bank loans has tended to increase, which is a positive indicator for the economy,” Quyen said.

In 2012, up to 74.9 per cent of businesses took a bank loan at an annual interest rate of 12 per cent or more, while the number of such firms declined dramatically this year, to 32.7 per cent.

When questioned on the efficiency of the government’s solutions to ease the difficulties facing businesses, 60 per cent of respondents rated the efficiency of the policies as medium, while 40 per cent said it was at a low level.

Source: VIR

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China - Chinese recycling tycoon says he wants to buy New York Times

BEIJING - An eccentric Chinese recycling magnate said on Tuesday he was preparing to open negotiations to buy the New York Times Co.

Chen Guangbiao, a well-known philanthropist, is something of a celebrity in China. During a particularly murky bout of pollution in January, the ebullient and tireless self-promoter handed out free cans of "fresh air.

But Chen says he is perfectly serious in his bid to buy the Times, something that he said he had been contemplating for more than two years. He said he expected to discuss the matter on January 5, when he is due to meet a "leading shareholder" in New York.

"There's nothing that can't be bought for the right price," Chen said.

As one of the most prestigious newspapers in the world, the Times is an occasional target among the wealthy -- some with unsteady aims.

Donald Trump, the real estate magnate who sells Trump-branded bottled spring water, was trying to figure out a way to buy the Times earlier this year, according to a report in New York magazine, which said that details of Trump's plans were "scant."

It is unlikely that the Times, which has long been controlled by the Ochs-Sulzberger family, would sell to Chen.

A spokeswoman for the Times said the company did not comment on rumours.

The company's chairman, Arthur Sulzberger, Jr., said recently that the Times was not for sale.

Chen believes the Times is worth US$1 billion, but said he would be willing to negotiate. The Times current market value is US$2.4 billion.

"If we act in sincerity and good faith, I believe the Times chairman will change his way of thinking," he said.

Chen said if he was unable to buy the New York Times, he would settle for becoming a controlling stakeholder, and failing that, would simply buy a stake.

The New York Times Co, which once was a sprawling media outfit with TV stations, US regional newspapers and ownership stakes in sports ventures like the Boston Red Sox baseball team and the Liverpool football club, is now down to its namesake newspaper.

Shares of the New York Times were down 1 per cent at US$15.93 at midday on Tuesday, after earlier hitting a 5-1/2-year high of US$16.14.

IDEALS

The Ochs-Sulzberger family has owned the Times for more than 100 years and controls the company through a trust of Class B shares with special voting rights.

"It's not true that everything is for sale," said Ken Doctor, an analyst with Outsell Research. "That is the reason why the New York Times has a two-class share system."

Hurun's Rich List of China's super-wealthy put Chen's wealth at about $740 million in 2012. Chen said he would not hesitate to sell off most of his assets if it enabled him to buy the Times.

But Chen said that because his funds were limited, he had persuaded an unnamed Hong Kong tycoon to put in $600 million while he would pay the rest.

Chen said his aim was not to push any political agenda, but rather his personal ideals of "peace on earth, protecting the environment and philanthropy."

He attracted attention in August 2012 when he bought a half-page advertisement in the Times stating that an island chain at the centre of a dispute with Japan had belonged to China since antiquity.

"After that, I realised that the Times' influence all over the world is incredibly vast," he said. "Every government and embassy, all around the world, pays attention to The New York Times."

The Times earned the ire of the Chinese government in 2012 with a report about the wealth of former Premier Wen Jiabao. The Times website has been blocked there since then.

Chen said it was natural for the government to block the site because the report on Wen "contained biased and negative things that were not verified."

"If I acquire the Times, the paper will only report the truth and must verify all information," Chen said, adding that he would like every Chinese household to subscribe to the paper.

If his offer failed, Chen said he would extend offers to CNN, the Washington Post or The Wall Street Journal.

"As long as they have some influence, I'm still willing to consider buying lesser media outlets," he said.

Reuters

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China - China to resume IPOs after year-long freeze

Five Chinese companies said Tuesday that they had received permission to raise a combined 2.1 billion yuan (US$347 million) in initial public offerings (IPOs), ending a year-old official freeze on flotations.

Five Chinese companies said on Tuesday that they had received permission to raise a combined 2.1 billion yuan (US$347 million) in initial public offerings (IPOs), ending a year-old official freeze on flotations.

In separate statements, the firms announced the nation's stock regulator had given the green light for their share offers, following a suspension of such approvals in November 2012.

The move came after the China Securities Regulatory Commission said last month that IPOs could resume as early as January, under new rules that aim to make the process more market-oriented.

Analysts welcomed the move, saying companies needed to be able to raise cash.

"Fund-raising is an indispensable part of the stock market, which will only be revitalised after embracing new companies," Central China Securities analyst Zhang Gang told AFP.

China's regulator has traditionally decided which firms can launch IPOs and when they go to market, instead of underwriters and the companies themselves, though authorities have pledged reform.

Roughly 50 of the more than 760 firms lining up for share offers are expected to list on China's two stock exchanges by the end of January, a regulatory official has said.

In the first batch of five companies, only one will list on Shanghai's main board for blue chips, while four others will target boards aimed at small enterprises and technology firms on the Shenzhen stock exchange in southern China, according to their statements.

The firm, which will float on the Shanghai exchange, Suzhou-based Neway Valve Co., aims to raise 839.2 million yuan for investment in production facilities, it said.

The pace of new listings on Shanghai's main board was expected to be slower, analysts said, as regulators fear new issues will drain funds away from existing shares.

"The ChiNext (technology) board will be the main battlefield, while the pace of IPO resumption on the Shanghai market will likely be slower as the issuance of large-cap shares will put more pressure on market liquidity," Zhang said.

The five firms will probably start roadshows for their IPOs on January 2, the China Business News newspaper reported on Tuesday.

Despite the threat of share oversupply impacting an already weak market investors shrugged off the announcements, which had been expected since the market regulator flagged the coming move in late November.

The benchmark Shanghai Composite Index closed up 0.88 per cent on Tuesday, while the Shenzhen index rose 0.33 per cent.

AFP

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Singapore - Singapore's economy grew by 3.7% in 2013, says PM Lee

In his New Year message, Prime Minister Lee Hsien Loong said the GDP forecast for next year remains on track - at between 2 and 4 per cent.

Singapore's economy grew by 3.7 per cent this year, better than initially expected.

In his New Year message on Tuesday, Prime Minister Lee Hsien Loong said the Gross Domestic Product (GDP) forecast for next year remains on track - at between 2 and 4 per cent.

He added that Singapore encountered a "few rough spots" this year, which tested the country as a whole.

But Mr Lee said Singaporeans came through the challenges together.

Singapore's 2013 GDP growth figure was in line with the government's earlier revised growth forecast of between 3.5 and 4 per cent, and this has translated into positive news for workers.

Mr Lee said median salaries increased by 3.9 per cent in real terms, while pay for the lower-income group went up as well.

He added that this means better jobs and new opportunities for workers, even as the economy restructures.

However, Mr Lee noted that how Singapore fares in the future will also depend on external factors such as the performance of the European and American economies.

He added that while the outlook for Asia remains positive, problems and tensions persist in Northeast Asia, and disputes over the South China Sea continue to pose challenges in Southeast Asia.

But observers remain bullish on Singapore's prospects in 2014, citing a strong external economic environment.

Associate Professor Tan Khee Giap, co-director of the Asia Competitiveness Institute at the Lee Kuan Yew School of Public Policy, said next year's growth forecast will likely be in the top end of the 2-4 per cent range.

He added: "The external environment is really robust now. So we have to make a really difficult decision whether we want to grow slow or we want to grow when the external environment is favourable.

"The Prime Minister talked about infrastructure investment, housing and a more inclusive society with social expenditure. The money will have to come (from) somewhere.

"So if we want to go for slow growth, then we also have to adapt our expectation as to how you want the government to come in to fund social expenditure, rapid infrastructure expansion, education investment. I think those are surely the considerations the government must have and I think the people must understand what it means by having slower growth, and faster growth when the external environment is favourable."

Selena Ling, head of treasury research and strategy at OCBC Bank, said the 3.7 per cent full-year growth is a tad lower than the 3.8 per cent she expected.

She said: "This suggests that fourth-quarter growth momentum may have underperformed. Manufacturing likely decelerated from the third quarter's heady pace, but construction and services probably remained fairly robust in the fourth quarter."

Ms Ling also agreed that 2014's growth will likely be on the upper half of the government's projection - at between 3 and 4 per cent.

"The more benign macro-economic backdrop, namely the pick-up in the US economy, eurozone recovery and stabilisation in China, should bode well for the externally-oriented sectors. However, the domestic challenges of economic restructuring, tight labour market and elevated costs will remain key challenges for Singapore companies in the year ahead," she said.

Edward Lee, regional head of research (Southeast Asia) at Standard Chartered, expects some amount of downsizing as companies adapt to the new economy.

He said: "It will only be natural for cases to happen where certain companies close, re-locate, downsize, re-orientate... particularly as Singapore continues with its restructuring. At the same time, there will be new companies starting which can survive in the new economy."

He is also positive about next year's growth prospects.

"Our full-year 2014 GDP growth forecast is 4.4 per cent. Given the expected improvement in large economies, including the US and euro area, the government's 2-4 per cent growth forecast appears reasonable for now. Consumption should also remain resilient as the labour market remains tight and will help to sustain wage growth," he said.

Prime Minister Lee noted that the government has set a new direction for Singapore domestically - to have a more open and mobile society, to strengthen social safety nets, and share the fruits of progress more widely.

He said there has been steady progress.

For example, first-timer queues for HDB flats have shortened. In education, there is now a broader definition of success. And in healthcare, the new MediShield Life insurance will cover all Singaporeans, even those with pre-existing conditions.

Mr Lee said the government is making major shifts forward and will implement changes progressively.

He also said that in the next few years, the government will take further initiatives to address other needs and deal with new problems that arise.

Mr Lee said that after the Budget session, the government will prorogue Parliament.

"When Parliament reopens in May, the government will set out our agenda for the rest of our term," he said.

Mr Lee also touched on the Population White Paper which was released this year.

He said it provoked "intense response" but the debate has helped everyone understand why population is such an important issue and why Singapore cannot avoid trade-offs.

Mr Lee reiterated that the government is taking a "balanced approach" - reducing but not cutting off the inflow of foreign workers.

He also touched on the recent riot in Little India.

He said Singapore will continue to treat foreign workers fairly, but that they are also expected to "obey our laws and social norms".

He said the riot was "inexcusable".

Mr Lee said the Committee of Inquiry will establish how the riot happened and how Singapore can prevent such incidents in future.

He added that the incident reminds Singaporeans that they can never take good order, peace and stability for granted.

Mr Lee expressed confidence in Singapore's future - provided nothing "untoward happens in Asia". He said Singapore is doing well, investing in the future and transforming the country's physical environment. He called on citizens to nurture the Singapore spirit to create a brighter future for all.

"The Singapore spirit burns bright in our people - in the concern of volunteers who distributed masks to vulnerable groups during the haze, in the determination of a SEA Games cyclist who fought back from a serious car accident to win gold, and in the courage of Home Team officers who formed human shields to protect colleagues during the riot in Little India. We must nurture this spirit, and keep faith with our nation and our people. By trusting and helping one another, we will create a brighter future for ourselves and our children," he said.

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