Beijing LASHES out at Asia's richest man Li Ka-shing via party mouthpiece

Tuesday, 22 September 2015 07:20

Beijing LASHES out at Asia's richest man Li Ka-shing via party mouthpiece 

 

 The mouthpiece newspaper of China's Communist Party has blasted Hong Kong tycoon Li Ka-shing as "ungrateful" for selling assets on the mainland with the world's second-largest economy facing headwinds.
The 87-year-old, nicknamed "Superman" for his sharp business acumen, has been offloading major property investments in China - where growth slowed to a 24-year low last year and has continued to weaken this year - after investing heavily there in the 1990s.
The move, combined with his selling of assets in Hong Kong, has fuelled speculation that the richest man in Asia is losing confidence in the Greater China region.
The People's Daily said on a verified social media account that China's opening up, vast market and favourable policies had been "the key cornerstone" of Li's success, yet he was now leaving his benefactor in the lurch.

"He shared the prosperity while we had good times but could not beat the odds together with us now that we have difficulties. This is indeed unacceptable emotionally," it said in a commentary Sunday on its account on China's mobile messaging application WeChat, a less formal platform than the printed newspaper itself

No 10 Chen Haibin, 46, Zhejiang DIAN Diagnostics Co Ltd No 9 Lv Bo, 52, DHC Software Co Ltd No 8 Jia Yueting, 42, LeTV Holdings Co Ltd No 7 Zhang Yan, 46, Himile Science and Technology No 6 Yang Hongbing, 47, Harbin Gloria Pharmaceuticals Co Ltd No 5 Han Gang, 47, Beijing Jetsen Technology Co Ltd No 4 Li Zhongchu, 52, Beijing Shiji Information Technology Co Ltd No 3 Liu Xianghua, 52, Hunan CHINASUN Pharmaceutical Machinery Co Ltd No 2 Ao Xiaoqiang, 51, Beijing SDL Technology Co Ltd No 1 Liu Chengyan, 51, ChinaNetCenter

While admitting Li's move may have a "negative impact" on confidence in China, the article sought to downplay concerns.

"China's economy accounts for more than 12 per cent of the world's total... Can the withdrawal of a single businessman affect the fundamentals?" it said.

"We don't need to worry that no investors will come after Li Ka-shing.
"What we can do is not to condescend to persuade him to stay or to hurl invectives out of outrage, but to build the country better to make today's departure tomorrow's regret," it said.

Li, who is currently worth US$32.9 billion (S$46 billion) according to the Bloomberg Billionaires index, started out in business as a plastic flower-maker.

He has been reshuffling his business empire since the start of this year and earlier this month announced the merger of his utilities firms, part of an overhaul seen as paving the way for him to hand over the reins to his eldest son Victor, 51, after he retires.

In one of his recent overseas purchases, Li in March acquired British telecom giant O2 from Spain's Telefonica for $15.2 billion.-BusinessAsiaOne

Full article: http://malaysia-chronicle.com/index.php?option=com_k2&view=item&id=599591:beijing-lashes-out-at-asias-richest-man-li-ka-shing-via-party-mouthpiece&Itemid=3#ixzz3oUyzvQxe
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Doing Business in Indonesia ?

Market Overview

• Indonesia is Southeast Asia’s largest economy and has delivered consistently high annual growth exceeding 6% in both 2007 and 2008. Growth of between 2% and 4.5% is expected in 2009.
• The consumer market continues to grow in the world’s fourth-largest country. There are more than 237 million citizens, 50% of whom are under the age of 30.
• GDP per person exceeds its ASEAN neighbors such the Philippines and Indonesia has a GDP per person three times that of Vietnam. Indonesia is a thriving democracy with significant regional autonomy. It is located on the world’s major trade routes and has extensive natural resources.
• It is a top-ten market for U.S. agricultural products and within the top 30 overall markets for U.S. exports. Indonesia has ratified the Cape Town Treaty, which gives U.S. aircraft exporters access to financing through international protection and registration of financial interests.

Market Challenges

• The business environment in Indonesia is challenging. U.S firms often find it difficult and time consuming to enter the market.
• Although improving, rule-of-law issues persist. Dispute settlement mechanisms are not highly developed. Local and foreign businesses cite corruption and ineffective courts as serious problems. Business and regulatory disputes, which would be generally considered administrative or civil matters in the United States, may be treated as criminal cases in Indonesia.
• Competition from companies from Singapore, China, Japan, Malaysia and other regional players is intense.
• Deregulation has been successful in reducing some barriers by creating more transparent trade and investment regimes, but the bureaucracy can be cumbersome.
• The Rupiah has depreciated by approximately 20% against the U.S. dollar since January 2008, making U.S. exports relatively more expensive.
• The public trade statistics may significantly understate market opportunities and trends due to the large numbers of shipments that are recorded as U.S. exports to Singapore but which ultimately enter Indonesia via Singapore.

Market Opportunities

• Important opportunities exist in mining and agribusiness equipment and services.
• The aircraft market favors U.S. products. Aircraft, replacement parts and service are valuable and significant markets.
• Telecommunications technology and satellites remain excellent areas for American products and services.
• The expansion of banking to previously underserved customers offers software and systems opportunities.
• Education and professional training, research, medical equipment and high-quality American agricultural commodities all retain their market edge even with premium prices.
• Emerging opportunities include palm oil biofuel processing and refining.
• U.S. franchises continue to attract Indonesian demand.
• Growing markets include: renovation and construction of regional and municipal infrastructure and water systems, military upgrading, safety and security systems and protection of sea-borne traffic.

Market Entry Strategy

• Although it may be possible in some cases to sell directly to the Government or state-owned companies, local services of agents, local offices or distributors are often critical to successful project development and to assure timely delivery, installation and follow up service needs. Most government procurement decisions favor proven providers or assurance of service based on long-established relationships.
• Small- and medium-sized U.S. firms entering the Indonesian market increase their likelihood of success with strong local agents or distributors. The U.S. Commercial Service Jakarta helps U.S. companies identify and qualify potential Indonesian representatives.
• U.S. companies must visit the Indonesian market in order to properly choose an appropriate agent or distributor. Appointment of a representative requires care, since it is difficult to get out of a bad relationship. Qualified representatives will not take U.S. principals seriously unless they make a commitment to visiting the market on a regular basis. Patience and presence are key success factors.
• Key factors affecting purchasing decisions in Indonesia are pricing, financing, technical skills, and after-sales service. Firms should be prepared to invest capital and manpower into making their local representative a first-class service provider.
• Indonesian non-financial firms obtain nearly 50% of their financing from abroad via loans, bonds, and other credit thus Indonesian exports often depend on trade financing. 

http://export.gov/Indonesia/doingbusinessinindonesia/index.asp

Banco de china

Bank of China

Chinese architects have also made a dent. The Bank of China Tower was designed by American architect IM Pei of Chinese origin and is one of the most recognizable buildings in Hong Kong

The building; highest point is at 288 meters, the last terrace at 305 meters and then has two masts that reach the maximum height of 367.4 meters.

It was built in 1989 and is located near the Central MTR station. It was the tallest building in Asia until the year 1992, and was the first built outside the United States in overcoming the height of the 305 meters.

The building consists of four triangular towers of glass and aluminum, all of varying heights, emerging from a triumphal podium of beautiful granite. Geometric changes that occur as the building rises into the sky are the most intriguing aspect of the tower. The sharp angles and points of interest make an appearance - a contrast with flat architecture that dominates the city - silver reflective glass used in the tower creates items that reflect the light on sunny days and at night, when Hong Kong is radiant with all kinds of artificial light.

http://en.wikiarquitectura.com/index.php/Bank_of_China_Tower