S$2.2b deals sealed at Singapore Water Week

By Tang See Kit, Channel NewsAsia | Posted: 29 June 2009 1730 hrs

SINGAPORE: This year's Singapore International Water Week (SIWW) has seen more deals flowing in, despite the current economic downturn.

The four-day event, which ended last week, saw S$2.2 billion worth of deals signed. This is six times what was achieved last year.

The SIWW saw several industry players like Hyflux and GE inking deals to boost research and development as well as further enhance their global presence.

Singapore's water-technology firm Hyflux expanded its plans in the Middle East region by signing a Memorandum of Understanding (MOU) with Swiss-based ABB for the company's project in Algeria worth S$28 million.

Hyflux also entered a joint venture with General Desalination Company (GDC) to develop two seawater desalination plants in Libya.

The SIWW also witnessed industry players collaborating with educational firms to expand their research and development capabilities.

Multinational company GE entered a partnership worth S$150 million with the National University of Singapore (NUS) to work on a research and development centre to develop safe drinking water systems across Asia.

Event organisers said these deals signified that the water industry is poised for further growth across all sectors, despite the gloomy global economy.

SIWW's managing director, Michael Toh, said: "I think (for) the water industry, the solutions provided have to cover all these (different areas). You know, in the plant, you have instrumentation, (and) you need chemicals, you need the pumps, you need the valves. So I think as a whole, the industry will grow."

Currently, Singapore's Environment and Water Industry Development Council (EWI) aims to triple the value-added (VA) contribution from the water industry to S$1.7 billion, which represents 0.6% of the GDP, by 2015.

Employment within the sector is also expected to double to about 11,000 people, with a majority in the professional and skilled categories.

Moving forward, organisers are seeking to brand the Water Week as a global platform for water solutions.

Jimmy Lau, managing director of Singapore Airshow & Events, said: "The whole value chain of the water industry is here and there will continually be discussions going on and looking for solutions, which is what the Water Week here in Singapore concentrates on. And so we expect the event to throw up a lot more opportunities, both technology as well as getting more funding for projects for water."

The SIWW attracted more than 10,000 attendees from 85 countries, up from last year's 8,500 visitors. More than 420 companies from some 28 countries took part in the SIWW.

28 new products and technologies were also unveiled for the first time at the event's Water Expo's Innovation Corner.

- CNA/ir

From ChannelNewsAsia.com; see the source article here.

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Lanxess to postpone building of butyl rubber plant in Singapore

By Yasmine Yahya, Channel NewsAsia | Posted: 29 June 2009 1749 hrs

SINGAPORE: German chemicals firm Lanxess is postponing the construction of its new butyl rubber facility in Singapore because of the continuing global economic crisis.

The plant had originally been planned to come on stream in 2012, but the firm said production is now scheduled for 2014.

Lanxess said it would use the two-year delay to finish developing an innovative technology for butyl rubber production, which would then be used at the new facility.

Chairman Axel Heitmann said the new technology uses less resources and is considerably more energy-efficient and environmentally friendly than current processes.

From today's perspective, he said the capital expenditures for the new plant would be slightly lower than the original 400 million euros.

Regardless of the postponement, Lanxess said it would continue to expand its presence in Singapore.

The company is currently negotiating with the Economic Development Board with a view of managing its global butyl rubber business unit from Singapore in the future.

- CNA/so

From ChannelNewsAsia.com; see the source article here.

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Private investment into water to double in Asia Pac over the next 5 years

By Rachel Kelly, Channel NewsAsia | Posted: 24 June 2009 2101 hrs

SINGAPORE: Even as the current credit crunch is causing the flow of funds to dry up around the world, private investment into Asia Pacific's water industry is expected to double in the next five years.

Private sector investment currently accounts for around 15 per cent of the investments into the infrastructure industry. Experts said this should grow to the global average of 30 per cent in the coming five years.

That's according to industry experts at KPMG who spoke on Wednesday on the sidelines of the Singapore International Water Week.

Experts are bullish on the sector and said the current environment presents high-value opportunities for investment.

Len Rodman, chairman, president & CEO, Black & Veatch, said: "There's probably not been a better time to buy then right now because the cost structure for many of the vendors and constructors has been reduced significantly.

“There is better access to labour and the commodities that go into projects. And some are seeing 10, 20, 30 per cent reduction in capital costs by doing projects now rather then the trend that occurred a year ago."

Experts at KPMG said that over the last five years private investment into infrastructure in South Asia, East Asia and Asia-Pacific was some US$166 billion.

And out of this, five per cent was pumped into the water sector which is around US$9 billion.

The private sector is expected to increase participation into the water industry. However some experts said that there is need for more innovative financial structures.

Sharad Somani, executive director, KPMG, said: “I think there is a lot of realisation in the private sector that they can add value in various parts of the value chain. What research and development has started showing is that membrane technology has improved.

“So if the private sector has to come in, we have to think of a lot of innovative solutions for them to participate in like these projects.”

One company that is actively investing in the sector is Japanese firm Toray.

It has just announced a S$10 million investment into a research and development facility in Singapore.

Toray has also signed a Memorandum of Understanding with Nanyang Technological University's Nanyang Environment and Water Research Institute to conduct membrane research in Singapore. - CNA/vm

From ChannelNewsAsia.com; see the source article here.

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Hyflux in joint venture to develop 2 seawater desalination plants in Libya

By Tang See Kit, Channel NewsAsia | Posted: 24 June 2009 2052 hrs

SINGAPORE: Singapore-based water treatment firm Hyflux has made its first foray into Libya. It has entered a joint venture to invest and develop two seawater desalination plants there.

The plants which use membrane-based reverse osmosis technology will be located in Libya's two largest cities - Tripoli and Benghazi.

Hyflux signed the Memorandum of Agreement (MOA) with the General Desalination Company (GDC), the commercial arm of Libya's Ministry of Utilities on Wednesday.

The two plants will provide a combined total of at least 900,000 cubic metres of drinking water every day.

This exceeds another Hyflux project in Algeria which is the current single largest desalination plant in the world with a capacity of 500,000 cubic metres per day.

That project has a value of S$632 million.

Hyflux will be providing the two plants with its award winning Kristal Ultra Filtration pretreatment membrane and process technology.

Hyflux did not provide a specific investment figure for its latest projects.

But it hopes to set "new benchmarks in terms of size and efficiency" for the Libyan plants.

The developments are also in line with the company's strategy to focus on the Middle East and North Africa (MENA) region.

Sam Ong, group deputy, CEO/CFO, Hyflux, said: "This is a very iconic, significant milestone for Hyflux. This is a new geographical expansion. We believe we are going to put more resources into the MENA region, and that includes Libya. And we believe North Africa and the Middle East region will continue to be big market potential for Hyflux. This will add significantly to what we are able to do in Singapore, Southeast Asia, India and China."

The details of the joint venture project including conceptual designs and finance models will be finalised in the months ahead.

Hyflux also said it will be talking to bankers recommended by its Libyan partners to discuss project financing.

The construction timeline has not been finalized but Hyflux said the plants will be built one after another. - CNA/vm

From ChannelNewsAsia.com; see the source article here.

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Agilent opens plant here

Image via Wikipedia

05:55 AM Jun 20, 2009

United States-based Agilent Technologies has opened a new plant in Singapore to make instruments that will speed up the identification of new diseases like the Influenza A (H1N1) virus and help accelerate drug production.

The multi-million dollar life-sciences facility is the first of its kind for Agilent outside the US.

"With this manufacturing here, it will add to production volume that will come out of Singapore and add to the increased industrial output from Singapore," said Dr Beh Swan Gin, managing director of the Economic Development Board.

About one-sixth of Agilent's US$5.8 billion ($8.4 billion) global revenue last year came from the life sciences sector.

The firm declined to reveal how much it has invested in its Singapore plant, except to say that it will contribute a significant portion of its overall life sciences revenue and boost its regional presence.

"With the inception of this manufacturing operation, it can be used for customised solutions for customers around the region," said Mr Gooi Soon Chai, president of Agilent Technologies for Singapore and Malaysia.

The instruments made at the Singapore plant will be used by pharmaceutical companies for mass commercial production of drugs, said Agilent.

According to research firm Frost and Sullivan, Asia's healthcare market was worth some US$240 billion last year.

Channel NewsAsia

From TODAY, Business – Weekend, 20/21-Jun-2009; see the source article here.

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Survey shows Singapore managers put health, work—life balance over career

Channel NewsAsia - Friday, June 19

SINGAPORE: A local survey shows that Singapore managers are a pragmatic lot, with over 80 per cent polled viewing good health, work—life balance and passion for work as more important than career advancement and higher salary.

In comparison, only 61 per cent scored career advancement and high salary as more important despite the financial pressures of the economic downturn.

The inaugural survey, commissioned by the Singapore Institute of Management (SIM), shows 86 per cent intended to work beyond the retirement age of 62, although more than half would prefer to work on a part—time basis, doing freelance or consulting work.

When it came to training, seven in 10 managers viewed skills and knowledge upgrading as important. Most, however, preferred to implement on—the—job training through learning of best practices and short—term courses than long—term programs or job rotations within the organisation.

Tracking the general sentiments on the economy, there was more pessimism about the global economy than Singapore economy.

Compared with the 77 per cent who voiced their uncertainty about how the global economy was performing, only 61 per cent of respondents said they were concerned about how Singapore’s economy fared.

This might explain why only slightly more than half the 750 respondents were confident of keeping their jobs.

Executive director, SIM, Ronald Tan, said: "It shows how they realign their priorities, vis-a-vis, the current turbulent times. So they have to very quickly look at what is most critical to them to ride out the storm, given the limited resources that they have. So we see that there is a general and common reaction underpinned by a sense of prudence, pragmatism and being realistic."

Some 750 respondents took part in this survey which will be conducted twice a year. The SIM Management Monitor is a comprehensive management survey that aims to identify key trends in management and better understand the issues, concerns and challenges that Singapore managers uniquely face.

— 938LIVE/CNA/yt

From Yahoo! News; see the source article here.

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India enters deflation as economy slows

Posted: 18 June 2009 1510 hrs

A spice market in Mumbai

NEW DELHI: India's annual inflation rate slipped into negative territory, official data showed on Thursday, with the slowing economy cutting into demand.

Inflation stood at minus 1.61 per cent for the week ended June 6, down from 0.13 per cent the previous week, according to the Wholesale Price Index, India's most watched cost-of-living measure.

Less than a year ago, inflation in India touched dizzying 13-year highs, but a period of deflation had been expected as rates tumbled, reflecting slackening growth in Asia's third-largest economy.

Deflation – in which falling prices prompt consumers to delay buying, deepening a downturn – has become a growing concern across the globe as demand for goods has dried up.

India's inflation crash was a symptom "of a deeper malaise" with an "adverse environment" for jobs, salaries and business, prompting a fall in prices, HDFC Bank chief economist Abheek Barua said earlier this year.

The country's inflation rate has tumbled from 12.91 per cent last August also partly because of a dive in the global price of oil and other commodities.

- AFP/so

From ChannelNewsAsia.com; see the source article here.

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Call to ride the dragon

Image via Wikipedia

Singapore companies should seek out opportunities for business in China: PM

by Glenda Chong, glendac@mediacorp.com.sg

Updated 09:55 AM Jun 08, 2009

-----------------------

Travelling on the Hangzhou Bay Bridge from Ningbo to Shanghai yesterday, Prime Minister Lee Hsien Loong had a first-hand look at how China is pushing ahead with concerted efforts to stimulate growth in its second-tier cities.

And he wrapped up his four-day visit to China with a call to Singapore companies to tap into China's growth and to seek out business opportunities in its outlying provinces.

At 36km, the Hangzhou Bay Bridge, which opened last May, is the world's longest trans-oceanic bridge. Besides cutting the travelling distance between the business hub of Shanghai and the port city of Ningbo in Zhejiang by 120km, it is also seen as a reflection of China's commitment to infrastructure development to grow its economy.

Prime Minister Lee said that with a strong Singapore brand, Singaporean companies can tap into China's growth with more confidence.

Speaking to the Singapore media, Mr Lee said: "I think the private sector is playing a much wider role now. There are many projects which the private sector have taken up, taken the ball and (run with it) ... I think the scope has broadened - we are in more places and our business people are more confident."

At the same time, Mr Lee highlighted that the Singapore Government is cultivating relationships with several of the provinces where there is greater potential.

He said: "If you have a good relationship with the officials, it helps a great deal to open doors and open up opportunities for our business people."

While in Shanghai, Mr Lee met with Party Secretary Yu Zhengsheng, where they exchanged views on how both sides can set a new direction for long-term economic sustainability.

Mr Yu also invited Mr Lee to visit Shanghai next year during the World Expo.

Before leaving for home, Mr Lee officiated a ceremony to mark the commencement of work on the Singapore Pavilion for World Expo 2010 - which will mark the island's largest undertaking at a world exposition.

China is Singapore's third-largest trading partner and top investment destination. Both countries signed the Singapore-China Free Trade Agreement last year, laying the foundation for further growth in bilateral trade and investments. Channel NewsAsia

From TODAY, News – Monday, 08-Jun-2009

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Analysts agree Singapore’s political system will evolve to adapt to changing needs

This is something to post in my Leadership Learning blog… my say? When this evolution comes, old skin has to be moulted out, for the growth to take place properly… that's when there will be some political unrest, civil disobedience, civil wars… name them, and they will come. Up to what magnitude, who knows? It will come, I tell you, it will come…

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Channel NewsAsia - Wednesday, May 20

Analysts agree Singapore's political system will evolve to adapt to changing needs

SINGAPORE: Analysts said Singapore's political system will have to change to adapt with the times. They were responding to President S R Nathan's opening address in Parliament on Monday evening.

Observers said it will also be an increasingly uphill task to find new leaders who can serve the growing demands of Singaporeans.

The recent AWARE incident is just one example of how Singaporeans who feel strongly about an issue can come together and bring about change, according to political analyst, Professor Bilveer Singh.

He cited other examples such as the NKF issue and people responding to the actions of Singapore Table Tennis Association President, Lee Bee Wah, after the table tennis coach incident.

He said that Singaporeans are not politically innocent and can be mobilised to act in a group if there's a strong catalyst in the form of an economic or social issue — for example, a widening income gap or if more companies are hiring foreigners over Singaporeans.

Professor Bilveer said while the government is aware such changes are coming, it would prefer things to take place more gradually.

Analysts also agreed with President S R Nathan that Singapore needs to induct fresh leaders in touch with the new generation. But they also pointed out that the same leaders would also have to meet the needs of older Singaporeans.

Davin Chor, assistant professor, economics, Singapore Management University, said: "There will be a lot of competing needs. These new leaders have to be very cautious in order to serve the country better. There's also the issue of the country having more foreign—born Singaporeans who are becoming naturalised. What are their priorities, what are their interests?"

Economically, analysts said the schemes to help Singaporeans upgrade skills and the Jobs Credit scheme are likely to be around for a while as it will take some time for the economy to recover. — CNA/vm

From Yahoo! News; see the source article here.

Amid the signs of recovery...

CHANNELNEWASIA: MONEY MIND

Is now the time to invest in Asian property stocks?

Frederick Lim, frederickl@mediacorp.com.sg

THE 20- to 30-per-cent rally in Asian property stocks in the past few months is not sustainable, say experts, who believe prices are likely to fall further for most markets in the months ahead.

Henderson Global Investors thinks the current rally in property counters is not being backed by fundamentals.

“In the physical property market, values are clearly falling in most, if not all, markets,” said Mr Patrick Sumner, head of Property Securities at Henderson Global Investors. He believes there is a strong chance property values in Asia could fall further if banks that have been holding back on forced-selling of distressed assets bring them onto the market.

“You have quite a large volume of properties which are not being sold. If the banks actually start forcing the sales of these properties, they would make their own balance sheets look rather shaky. I think it will take some time for the whole market to clear at a price that both sellers and buyers find satisfactory,” said Mr Sumner.

According to Henderson, the recent rally in property securities has been driven by positive sentiment in the equity markets.

But property developers suggest there are signs that the property market is turning positive, based on sales volumes, and that could provide some support for property stocks ahead.

Yanlord, a high-end property developer based in China, said certain segments of the Chinese real estate market are showing signs of recovery.

“We have seen our transaction volumes increase from about 200 million yuan in November and December last year to 1 billion yuan ($215 million) in March this year,” said Ms Michelle Sze, head of Investor Relations at Yanlord.

Mr Justin Chiu, executive director of Hong Kong developer Cheung Kong Holdings, said the time is ripe to look for opportunities in the real estate sector.

“As real estate fluctuates in tandem with economic cycles, the current downtrend in Asia has opened up opportunities for favourable entry,” he said.

He believes the best opportunities are likely to be found in markets like Hong Kong, Singapore and, in particular, China.

As for the Singapore property market, developer CapitaLand is seeing a medium-term rebound for the high-end segment, especially with Singapore trying to attract top foreign talent.

“Singapore aims to become a global city focusing on wealth management, high-end talent and lifestyle. Does this strategy have legs? I, for one, am very confident,” said Mr Olivier Lim, group chief financial officer at CapitaLand.

For more on this story and other investment-related topics, catch Money Mind this Sunday at 9.30pm on Channel NewsAsia.

From TODAY, Business; Friday, 15-May-2009