■ Malaysia
Sugar in short supply
The government has launched an all-out campaign to overcome a severe sugar shortage as it embarks on a long festive season kicked off by Ramadan, mobilizing the navy and opening a 24-hour hotline to contain public outrage. Store-imposed rationing, scrounging around shops for sugar and panic-buying have become familiar activities in Malaysia in recent months. To overcome the crisis, Malaysia is importing some 80,000 tonnes of raw sugar from China and Brazil, while local manufacturers have also stepped up production. Malaysians consume a monthly average of 85,000 to 87,000 tonnes of sugar, which spikes to over 100,000 tonnes during festive months.
■ Telecoms
Telstra chief upbeat
A transformation program would begin paying dividends in the first half of next year with increased earnings for the troubled Telstra, Sol Trujillo, chief executive of the Australian telecoms giant, said in an interview with Nine Network television ahead of the launch today of the prospectus for a multi-billion-dollar share sale. "In the second half of this current fiscal year you will see a dramatic increase in terms of earnings. The point is the transformation about earnings growth will begin and begin in a material way." The government, which owns 51.8 percent of Telstra shares, will from Oct. 23 sell A$8 billion (US$6.06 billion) worth in an offering known as "T3" because it is the third such public offering.
■ South Korea
Companies feel optimistic
Major South Korean companies expect business conditions to remain favorable for a second straight month this month, according to a business survey index issued yesterday by the Federation of Korean Industries. "Amid sustained unfavorable conditions such as high costs of oil and raw materials, the won's appreciation, and slower recovery in domestic demand, companies are expecting the economy to improve, helped by a short-term increase in sales ahead of the Chusok holiday and due to seasonal factors," the federation said. South Korea's Thanksgiving holiday, or Chusok, was celebrated from last Thursday to Saturday.
■ Aviation
AirAsia rules out long-hauls
The head of Malaysian low-cost carrier AirAsia yesterday ruled out establishing a budget long-haul airline and labeled as "preposterous" a report flagging the move. AirAsia's Group chief executive officer Tony Fernandes scotched a report of the Edge financial weekly that the carrier's management team was behind the new airline and would submit a business plan to the government. "It's a preposterous idea," he said. "I'm ruling it out, I don't see it happening, I don't believe in the model."
■ R&D
Firms establish think tank
Toyota Motor Corp and Canon Inc are among the Japanese companies setting up a think tank and may ask former prime minister Junichiro Koizumi to head it, the Mainichi Shimbun said. Toyota, Canon, Tokyo Electric Power Co and Nippon Steel Corp will invest ?100 million (US$847,000) each to set up the institute, the Mainichi reported. More than 20 other companies will put in between ?10 million and ?20 million each, the report said. The think tank will be independent from the government and issue policy proposals, the paper said.
CELEBRATION: The PRC turned 75 on Oct. 1, but the Republic of China is older. The PRC could never be the homeland of the people of the ROC, Lai said The People’s Republic of China (PRC) could not be the “motherland” of the people of the Republic of China (ROC), President William Lai (賴清德) said yesterday. Lai made the remarks in a speech at a Double Ten National Day gala in Taipei, which is part of National Day celebrations that are to culminate in a fireworks display in Yunlin County on Thursday night next week. Lai wished the country a happy birthday and called on attendees to enjoy the performances and activities while keeping in mind that the ROC is a sovereign and independent nation. He appealed for everyone to always love their
FIVE-YEAR WINDOW? A defense institute CEO said a timeline for a potential Chinese invasion was based on expected ‘tough measures’ when Xi Jinping seeks a new term Most Taiwanese are willing to defend the nation against a Chinese attack, but the majority believe Beijing is unlikely to invade within the next five years, a poll showed yesterday. The poll carried out last month was commissioned by the Institute for National Defense and Security Research, a Taipei-based think tank, and released ahead of Double Ten National Day today, when President William Lai (賴清德) is to deliver a speech. China maintains a near-daily military presence around Taiwan and has held three rounds of war games in the past two years. CIA Director William Burns last year said that Chinese President Xi Jinping
MAKING PROGRESS: Officials and industry leaders who participated in a defense forum last month agreed that Taiwan has the capabilities to work with the US, the report said Taiwan’s high-tech defense industry is to enhance collaboration with the US to produce weapons needed for self-defense, the Ministry of National Defense said in a report to the Legislative Yuan. Deputy Minister of National Defense Hsu Yen-pu (徐衍璞) discussed building regional and global industry alliances with US partners at the US-Taiwan Defense Industry Conference in Philadelphia held from Sept. 22 to Tuesday last week, the ministry said in the declassified portion of the report. The visit contributed to maintaining bilateral ties, facilitated Taiwan’s efforts to acquire weapons and equipment, and strengthened the resilience of the two nation’s defense industries, it said. Taiwan-US ties
CONCERNS: Allowing the government, political parties or the military to own up to 10 percent of a large media firm is a risk Taiwan cannot afford to take, a lawyer said A Chinese Nationalist Party (KMT) legislator has proposed amendments to allow the government, political parties and the military to indirectly invest in broadcast media, prompting concerns of potential political interference. Under Article 1 of the Satellite Broadcasting Act (衛星廣播電視法), the government and political parties — as well as foundations established with their endowments, and those commissioned by them — cannot directly or indirectly invest in satellite broadcasting businesses. A similar regulation is in the Cable Radio and Television Act (有線廣播電視法). “The purpose of banning the government, political parties and the military from investing in the media is to prevent them from interfering
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