Senin, 29 Januari 2024

ASEAN foreign ministers back 'Myanmar-owned and led' solution to crisis - CNA

Southeast Asian foreign ministers on Monday (Jan 29) pressed for an end to Myanmar's bloody conflict and expressed unity in their backing for a regional peace plan and a "Myanmar-owned and led solution" to the crisis.

In a statement after an Association of Southeast Asian Nations (ASEAN) retreat, the ministers gave support for efforts by the new special envoy on the crisis, from Laos, in "reaching out to parties concerned" and expressed confidence in his resolve to help the Myanmar people.

Myanmar has been locked in conflict since the military seized power in a coup in 2021 that sparked nationwide chaos and abruptly ended a decade of tentative democracy and economic reform.

The new special envoy, Alounkeo Kittikhoun, met the junta chief during a visit to Myanmar earlier this month, according to its state media. Neither ASEAN nor Laos has yet made an announcement about that trip and it is unclear if he met any anti-junta groups.

"We reaffirmed ASEAN's commitment to assisting Myanmar in finding a peaceful, comprehensive, and durable solution to the ongoing crisis, as Myanmar remains an integral part of ASEAN," the minister said in the statement.

"We reaffirmed ASEAN unity and reiterated that any effort should support, in line with the (peace plan) and in coordination with the chair," it said, urging cessation of violence and restraint to allow humanitarian access.

ASEAN has faced internal discord over how to address the crisis.

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2024-01-29 11:29:03Z
CBMiWGh0dHBzOi8vd3d3LmNoYW5uZWxuZXdzYXNpYS5jb20vYXNpYS9hc2Vhbi1teWFubWFyLWNyaXNpcy1mb3JlaWduLW1pbmlzdGVycy1sYW9zLTQwODI0MzbSAQA

China property giant Evergrande ordered to liquidate, owing over $402 billion - The Straits Times

China Evergrande Group, the world’s most indebted developer, sent the Chinese property sector into a tailspin when it defaulted on its debt in 2021. PHOTO: AFP

HONG KONG – A Hong Kong court on Jan 29 ordered the liquidation of China Evergrande Group, a move likely to send ripples through China’s crumbling financial markets as policymakers scramble to contain the deepening crisis.

Evergrande shares plunged 20.9 per cent in Hong Kong before the hearing. Trading was halted in the company and its listed subsidiaries, China Evergrande New Energy Vehicle Group and Evergrande Property Services, after the verdict.

The decision to liquidate the world’s most indebted developer, with more than US$300 billion (S$402.3 billion) of total liabilities, was made by Hong Kong High Court Justice Linda Chan.

The judge noted that Evergrande had been unable to offer a concrete restructuring plan despite months of delays.

“It is time for the court to say enough is enough,” she said.

Justice Chan will deliver her reasons for granting the liquidation at 2.30pm Singapore time. It is expected that a provisional liquidator will be appointed to oversee Evergrande ahead of a permanent appointment.

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Evergrande, which has US$240 billion of assets, sent a struggling property sector into a tailspin when it defaulted on its debt in 2021. The liquidation ruling will likely further jolt already fragile Chinese capital and property markets.

Before Jan 29, at least three Chinese developers have been ordered by a Hong Kong court to liquidate since the current debt crisis unfolded in mid-2021. 

Beijing is grappling with an underperforming economy, its worst property market in nine years and a stock market wallowing near five-year lows, so any fresh hit to markets could further undermine policymakers’ efforts to rejuvenate growth.

“Evergrande’s liquidation is a sign that China is willing to go to extreme ends to quell the property bubble,” said Mr Andrew Collier, managing director of Orient Capital Research.

“This is good for the economy in the long term, but very difficult in the short term.”

The liquidation process could be complicated, with potential political considerations, given the many authorities involved.

But it is expected to have little impact on the company’s operations, including home construction projects in the near term, as it could take months or years for the offshore liquidator appointed by the creditors to take control of subsidiaries across mainland China – a different jurisdiction from Hong Kong.

Ahead of the Evergrande decision, China’s Supreme Court and Hong Kong’s Department of Justice said they signed an arrangement on the reciprocal recognition and enforcement of judgments in civil and commercial cases effective immediately in both places.

Evergrande had been working on a US$23 billion debt revamp plan with an ad hoc bond holder group for almost two years. Its original plan was scuppered in late September when it said its billionaire founder Hui Ka Yan was under investigation for suspected crimes.

The liquidation petition was first filed in June 2022 by Top Shine, an investor in Evergrande unit Fangchebao, which said the developer had failed to honour an agreement to repurchase shares it had bought in the subsidiary.

The proceedings had been adjourned multiple times and Justice Chan said previously that the December hearing would be the last before a decision was made whether to liquidate Evergrande in the absence of a “concrete” restructuring plan. REUTERS

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2024-01-29 09:58:23Z
CBMiZmh0dHBzOi8vd3d3LnN0cmFpdHN0aW1lcy5jb20vYnVzaW5lc3MvZW1iYXR0bGVkLWNoaW5hLWV2ZXJncmFuZGUtYmFjay1pbi1jb3VydC1mb3ItbGlxdWlkYXRpb24taGVhcmluZ9IBAA

Minggu, 28 Januari 2024

With generals barred, Myanmar junta sends bureaucrat to ASEAN meeting - CNA

Military-ruled Myanmar sent a bureaucrat to Monday's (Jan 29) meeting of Southeast Asian foreign ministers in Laos, Indonesia's top diplomat said, adding the move was in line with the Association of Southeast Asian Nations' (ASEAN) policy on the conflict-torn country's attendance.

Myanmar's ruling generals remain barred from ASEAN's key meetings over their failure to implement a peace plan agreed with the bloc two months after a 2021 coup that unleashed chaos in the country.

ASEAN has a policy of inviting Myanmar to send what it calls a "non-political" representative instead, but the junta has in the past two years declined, furious over what it calls ASEAN interference in its internal affairs.

Indonesian Foreign Minister Retno Marsudi, in a text message to Reuters, said Myanmar's acting permanent secretary of its foreign ministry, Malar Than Htike, was in Laos for Monday's talks.

The information was confirmed by two other diplomatic sources.

"The point is there's no changes in ASEAN policy," Retno said. "Myanmar shall not affect ASEAN decision making."

Retno last year led a behind-the-scenes effort to try to start dialogue between warring parties in Myanmar, where pro-democracy militias allied with a shadow government and ethnic minority armies have waged a rebellion against the junta.

The military government has refused to take part in dialogue with what it calls "terrorists".

Myanmar has been locked in crisis since the 2021 coup, with at least two million people displaced by fighting and human rights groups accusing the junta of excessive use of force and widespread atrocities against civilians, which it denies.

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2024-01-29 04:00:48Z
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Former Malaysian finance minister Daim Zainuddin to be charged with failing to declare assets - CNA

On Jan 23, Daim's wife Na'imah Abdul Khalid, 66, pleaded not guilty in a Kuala Lumpur sessions court after she was charged for failing to declare assets, including the multimillion-dollar Ilham Tower.

She is accused of deliberately giving a written statement under oath that did not comply with the terms of a notice from MACC.

The undeclared assets include Ilham Tower, the companies Ilham Tower and Ilham Baru, two Mercedes-Benz cars and several properties in Kuala Lumpur and Penang.

She faces up to five years' jail and a fine of up to RM100,000 (US$21,117) if found guilty.

"No crime was committed by me and I will prove this in court," Na'imah said in a statement outside the court.

"The real crime is the plot to tarnish my husband's reputation. The real crime is the wielding of state power for personal ends and not for the benefit of the people."

Na'imah was granted bail of RM250,000 with one surety and ordered to surrender her passport to the court.

According to MACC, the investigation into Daim was based on information obtained from the Pandora Papers leak in 2021. Investigations were opened in February last year. 

The Pandora Papers are troves of documents, leaked in 2021, that revealed the hidden wealth of world leaders, billionaires and celebrities who used offshore companies to acquire mansions, private jets and stakes in companies.

Daim is among the names of nine Malaysians unveiled in the Pandora Papers, but Na’imah is not named.

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2024-01-28 14:00:00Z
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Trafigura assesses Red Sea risks after tanker attacked by Houthis - CNBC

The container ship, Safeen Pride, with a destination of 'HODEIDAH (ARMED GUARDS)' seen at sea on January 17, 2024 in Djibouti, Djibouti. 
Luke Dray | Getty Images

Commodities trader Trafigura said on Saturday it was assessing the security risks of further Red Sea voyages after firefighters put out a blaze on a tanker attacked by Yemen's Houthi group a day earlier.

The U.S. military said a U.S. Navy ship and other vessels provided assistance after the Marlin Luanda was hit by a Houthi anti-ship missile.

"No further vessels operating on behalf of Trafigura are currently transiting the Gulf of Aden and we continue to assess carefully the risks involved in any voyage, including in respect of security and safety of the crew, together with shipowners and customers," a Trafigura statement said.

Some shipping companies have suspended transits through the Red Sea, which is accessed from the Gulf of Aden, and taken much longer, costlier journeys around Africa to avoid being attacked by Yemen's Iranian-backed Houthi group, which began launching waves of exploding drones and missiles at vessels on Nov. 19 in response to Israel's military operations in Gaza.

The Houthi attacks have primarily targeted container vessels moving through the Red Sea. Many fuel tankers have kept using the route.

A notable exception is QatarEnergy, the world's second largest exporter of liquefied natural gas, which earlier this month stopped sending tankers via the Red Sea, citing security concerns.

Over several hours early on Saturday the Marlin Luanda's crew battled a blaze in one cargo tank on the vessel's starboard side, Trafigura's said in a statement.

By Saturday afternoon, the blaze was extinguished and all crew were safe, Trafigura said.

"The vessel is now sailing towards a safe harbor," Trafigura said, adding that the firefighting effort had been supported by Indian, U.S. and French navy vessels.

The Marshall Islands-flagged Marlin Luanda issued a distress call on Friday and reported damage, U.S. Central Command said in a post on X, formerly Twitter. The USS Carney and other coalition ships were providing assistance to the tanker, it said.

India's navy deployed INS Visakhapatnam, a guided missile destroyer, after receiving a distress call from the Marlin Luanda, which had 22 Indian and one Bangladeshi crew on board, an Indian Navy spokesman said.

The tanker was carrying Russian naphtha purchased below the price cap in line with G7 sanctions, a Trafigura spokesperson said on Friday.

U.S. and British warplanes, ships and submarines have responded to the Houthi attacks on shipping in recent weeks with dozens of retaliatory strikes across Yemen against Houthi forces.

About eight hours after the Marlin Luanda incident, the U.S. military destroyed a Houthi anti-ship missile that was aimed into the Red Sea and ready to launch, Central Command said.

The missile "presented an imminent threat to merchant vessels and the U.S. Navy ships in the region", it said.

The Houthis' Al-Masira television said on Saturday that the United States and Britain launched two air strikes that targeted the port of Ras Issa, Yemen's main oil export terminal.

It was not clear if this was the strike referred to by Central Command, and the U.S. Fifth Fleet did not immediately respond to a request for comment.

The British Defence Ministry declined to comment.

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2024-01-28 09:19:04Z
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British skydiver falls to his death from Pattaya condo as parachute fails to open - The Straits Times

Security officials said the man sneaked inside the condo to do a base jump from the top with his friend filming a video on the ground. PHOTOS: NATHAN'S SKY PHOTOGRAPHY/FACEBOOK, THE NATION/ASIA NEWS NETWORK

BANGKOK - A British skydiver was killed on Jan 27 after he sneaked to the top of a 29-storey Pattaya condominium to jump from its rooftop, but his parachute failed to deploy, police said.

The skydiver was identified as Mr Nathy Odinson, 33, a British passport holder. His Facebook page, Nathy’s Sky Photography, has more than 5,000 likes and over 10,000 followers.

Police in Pattaya were alerted to the accident at 7.30pm and rushed to the building in Tambon Na Klua in the Bang Lamung district of Chonburi province and found Mr Odinson’s body on the ground.

A round blue parachute was found on his body and it was not fully deployed.

Security officials of the condo told police they heard a loud noise of a heavy object hitting the ground, and they later heard a woman crying, so they rushed out to check and found Mr Odinson in critical condition before he died.

The security officials said Mr Odinson had parked his car outside the condo and sneaked inside and went upstairs to do a base jump from the top with his friend filming a video on the ground.

They said the man hit tree branches before falling onto the ground.

They added that Mr Odinson had sneaked in to do base jumping several times earlier.

Police Captain Kamolporn Nadee, deputy inspector of Bang Lamung Police Station, said the victim’s friend, who waited to shoot the video on the ground, was interrogated. He said police would check security cameras of the condo before wrapping up the case.

The Facebook page of Mr Odinson posted several clips of his skydiving and base jumping from many locations in Thailand.

His posts also tagged a Facebook page called Thai Sky Adventurers that sells packages for tourists who like skydiving from a small plane. The tourism company is in Chonburi’s Si Racha district. THE NATION/ASIA NEWS NETWORK

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2024-01-28 09:12:00Z
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China, Thailand sign mutual visa waiver agreements - CNA

BANGKOK: Thailand and China agreed on Sunday (Jan 28) to waive visa requirements for each other's nationals to facilitate travel and tourism between the two countries, hurt by COVID-19. 

Thai Foreign Minister Parnpree Bahiddha-nukara and his Chinese counterpart Wang Yi signed the mutual visa exemption, which takes effect on Mar 1, at a ceremony after a meeting in Bangkok.

"This visa-free era will bring people-to-people exchanges to a new height," Wang told a joint press conference.

China was a top source for Thailand's tourism industry, a major driver of Southeast Asia's second-largest economy before COVID-19, but the return of Chinese tourists to Thailand has been slow.

"There will be a big increase in the number of Chinese tourists visiting Thailand," Wang said.

The number of Chinese tourists to Thailand plunged to 3.5 million last year from 11 million in 2019 before the pandemic.

Beijing and Bangkok also pledged to speed up the construction of the China-Thailand railway and work together in combating transnational crimes, Wang said.

He and US National Security Advisor Jake Sullivan held talks in Bangkok on Friday and Saturday about issues including bilateral relations, Taiwan and Iran.

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2024-01-28 06:52:20Z
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