In relation to our negotiations with Sogo, I speak to their senior executives on a very regular basis, and can report that the negotiation is continuing in a very positive fashion. We both feel confident that we will reach a mutually satisfactory conclusion to our negotiations in the very near future. Sogo like many other of Taiwan's leading retailers have identified the Hsinyi District as a "must have" location.
Expanding its business into Hsinyi is part of Sogo's strategic plan, and partnership with Taipei 101 would prove to be a powerful combination and offer extremely beneficial result for both parties.
TT: But what kind of strategy gets businesses around the fact that a good portion of the public is terrified to walk out their door?
Van de Velde: Looking at the big picture, I think that the only way in which the industry can face the SARS issue is to assume that it will pass in time. As such you need to keep moving forward, planning for growth, looking to see and find new ways to satisfy your customer.
It is simply not an option to stop, panic and surrender. The situation will pass in time, there is irrefutable evidence from the World Health Organization that the situation can be brought under control, as evidenced in other countries. If you look at the recent experience of Vietnam, Singapore, Canada and Hong Kong, the pattern is one of containment and or control.
Taiwan will follow the pattern of other regional markets. I have no doubt.
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