Carlson upbeat on Radisson Hotel Brunei
US-BASED hotel company Carlson Hotels is upbeat Radisson Hotel Brunei Darussalam will draw more guests once the hotel is launched under the new brand and the planned upgrades completed, a top executive yesterday said.
Carlson is taking over the running of the 142-room hotel from US peer Starwood Hotels and Resorts, which has managed the property for the past 29 years.
Jean-Marc Busato, managing director for Asia-Pacific, Carlson Hotels Worldwide, in an e-mail interview with The Brunei Times said that Carlson Hotels had signed a Hotel Management Agreement with Bruneian investment holding company Hotel Associates Sdn Bhd earlier this month to operate the upscale, full-service Radisson brand in Brunei starting May. The hotel is Carlson’s first in the Sultanate.
Busato said that with a comprehensive refurbishment programme from May 1 this year, when the hotel is officially launched, Radisson Hotel Brunei Darussalam will attract more guests to the property.
“We are confident that this, together with the enhancements to the food and beverage facilities will have a positive impact on the hotel,” he said.
The hotel’s refurbishment programme will encompass public areas and guest facilities, including 130 standard rooms, 10 junior suites, an executive suite and a presidential suite, Busato said.
“The enhancements will include the development of an all-day dining restaurant and a speciality restaurant. Our meeting and banquet facilities will also be refurbished to feature a variety of venues,” Busato said.
He said the opening of Radisson Hotel Brunei Darussalam is part of Carlson Hotels’ strategy to expand its geographical footprint in key cities in Asia, adding the Brunei venture brings the company a step closer to its goal.
“By 2012, we hope to more than double our portfolio in the region, focussing on opportunities to open hotels in new markets such as Brunei,” Busato said.
When asked about Carlson Hotels’ worldwide promotion for the new property, Busato said that destination marketing is a long-term process and the firm already started initial discussions with a number of stakeholders in this regard.
Hotel Associates Sdn Bhd Managing Director Stephen Ong had welcomed the partnership with Carlson Hotels, while citing the firm had an excellent relationship with Starwood and Sheraton over the last 29 years. “This is a mutual parting of ways as in recent years, there is a misalignment of interests as to how we can develop the hotel further. So we think it is more in our interest to move on with Carlson under the Radisson brand,” he said.
He assured that the hotel will be of equivalent standards as they expect to maintain a high standard of service, just with a different image. “We don’t foresee this to change our star rating as Radisson is very strong in America, Europe, China, India and in this region, the Philippines and Thailand. It is definitely an international class brand,” he added.
Ong also said that room rates are expected to remain similar as both hotels are international brands from America. “In the next few months, we will be undergoing a transition phase for the refurbishment of rooms and upgrading of the back-of-the-house facilities. We will be redesigning the restaurant’s concept and the rooms will see a change as well but more recently refurbished areas like the lobby will have minimum work done to it,” said Ong.
The Radisson Hotel Brunei Darussalam will allow travellers to experience exceptional hospitality through a range of quality facilities from food and beverage to leisure and recreational options such as the club lounge, health club, outdoor swimming pool and spa.
Radisson is one of the world’s leading global brands. It offers vibrant, contemporary and engaging full service hospitality that is characterised by its distinctive “Yes I Can!” service philosophy.
Radisson continues to grow worldwide, focused on adding key hotels in major cities, airport gateways, leisure destinations and other important locations.
Carlson Hotels is a leading global hotel company with more than 1,060 locations in 77 countries. Its brands include Regent, Radisson, Park Plaza, Country Inns & Suites and Park Inn. Carlson Hotels is part of Carlson, a global hospitality and travel company. - The Brunei Times
Read more..Carlson is taking over the running of the 142-room hotel from US peer Starwood Hotels and Resorts, which has managed the property for the past 29 years.
Jean-Marc Busato, managing director for Asia-Pacific, Carlson Hotels Worldwide, in an e-mail interview with The Brunei Times said that Carlson Hotels had signed a Hotel Management Agreement with Bruneian investment holding company Hotel Associates Sdn Bhd earlier this month to operate the upscale, full-service Radisson brand in Brunei starting May. The hotel is Carlson’s first in the Sultanate.
Busato said that with a comprehensive refurbishment programme from May 1 this year, when the hotel is officially launched, Radisson Hotel Brunei Darussalam will attract more guests to the property.
“We are confident that this, together with the enhancements to the food and beverage facilities will have a positive impact on the hotel,” he said.
The hotel’s refurbishment programme will encompass public areas and guest facilities, including 130 standard rooms, 10 junior suites, an executive suite and a presidential suite, Busato said.
“The enhancements will include the development of an all-day dining restaurant and a speciality restaurant. Our meeting and banquet facilities will also be refurbished to feature a variety of venues,” Busato said.
He said the opening of Radisson Hotel Brunei Darussalam is part of Carlson Hotels’ strategy to expand its geographical footprint in key cities in Asia, adding the Brunei venture brings the company a step closer to its goal.
“By 2012, we hope to more than double our portfolio in the region, focussing on opportunities to open hotels in new markets such as Brunei,” Busato said.
When asked about Carlson Hotels’ worldwide promotion for the new property, Busato said that destination marketing is a long-term process and the firm already started initial discussions with a number of stakeholders in this regard.
Hotel Associates Sdn Bhd Managing Director Stephen Ong had welcomed the partnership with Carlson Hotels, while citing the firm had an excellent relationship with Starwood and Sheraton over the last 29 years. “This is a mutual parting of ways as in recent years, there is a misalignment of interests as to how we can develop the hotel further. So we think it is more in our interest to move on with Carlson under the Radisson brand,” he said.
He assured that the hotel will be of equivalent standards as they expect to maintain a high standard of service, just with a different image. “We don’t foresee this to change our star rating as Radisson is very strong in America, Europe, China, India and in this region, the Philippines and Thailand. It is definitely an international class brand,” he added.
Ong also said that room rates are expected to remain similar as both hotels are international brands from America. “In the next few months, we will be undergoing a transition phase for the refurbishment of rooms and upgrading of the back-of-the-house facilities. We will be redesigning the restaurant’s concept and the rooms will see a change as well but more recently refurbished areas like the lobby will have minimum work done to it,” said Ong.
The Radisson Hotel Brunei Darussalam will allow travellers to experience exceptional hospitality through a range of quality facilities from food and beverage to leisure and recreational options such as the club lounge, health club, outdoor swimming pool and spa.
Radisson is one of the world’s leading global brands. It offers vibrant, contemporary and engaging full service hospitality that is characterised by its distinctive “Yes I Can!” service philosophy.
Radisson continues to grow worldwide, focused on adding key hotels in major cities, airport gateways, leisure destinations and other important locations.
Carlson Hotels is a leading global hotel company with more than 1,060 locations in 77 countries. Its brands include Regent, Radisson, Park Plaza, Country Inns & Suites and Park Inn. Carlson Hotels is part of Carlson, a global hospitality and travel company. - The Brunei Times
Tuesday, March 02, 2010 | Labels: leisure and hospitality | 0 Comments
Most Bruneians opt for public sector
THE promise of better benefits, higher salaries and job security of working for the government or public sector could result in a less skilled local workforce which in turn might limit the potential of their contribution to the Sultanate, said a number of private employers.
Jay, a director from the construction line, said his company had always been very active in promoting the hiring of locals because they see it as a means to help out the Bruneian community by providing them with not only stable jobs but also training.
“We always offer them good positions with good income and also training that will help them develop skills that they can rely on in the future, but they always take things for granted and never take the job seriously,” said the man in his mid-fifties.
He said that, at present, only approximately 25 per cent of his entire workforce of some 40 people is comprised of Bruneians, with the majority being Malaysians.
“We do have locals applying but the problem is that they never stay long. They will always hop to an easier job whenever the opportunity arises, especially if it is an offer from the government,” said Jay, adding that there have been cases where Bruneian employees had resigned within a week after starting work.
Another issue he raised was how many of his previous local employees had time after time failed to stick to the work schedule.
“We try to give them training so they can equip themselves with better skills but this is hard to do when your workers fail to show up on time or leave for unscheduled lunch breaks whenever they feel like it. Some will not even show up for more than three working days a week,” he said.
“I think if more locals were willing to tough it out and be more serious when it comes to working with the private sector then there will be less complaints of unemployment here.
“Working for the private sector can lead to a proper career… it is not just a stepping stone while waiting for an offer from the government,” he added.
Similar experiences were shared by Hj Rushdi El-Hakim Dato Seri Setia Hj Ibrahim, managing director of Mimit E-Technology.
Rushdi said that trying to hire and maintain local employees was one of the main problems faced by the private sector.
“There is a lack of young people interested in working for the private sector now but (they have to realise) that we are the backbone of the public sector, we help them grow,” he said.
“If you ask people, they will always say they want to work for the government because of the benefits, holidays and the salary. These are the culprits that always make me lose my workers,” said the managing director, adding that he has, thus far, recruited and lost six Bruneians, all to the government.
He informed The Brunei Times that he did not mind losing his workers to the government as long as they were willing to spend one or two years to learn and gain experience from the private sector.
“I do not teach them only ICT but also other skills such as research and communication (presentation). They will then be able to bring with them these skills to the government and contribute to the country,” he said.
“I may benefit more from hiring foreigners but if I am transferring knowledge then they will not contribute to my country, they will take it somewhere else,” he said.
Alex Lim who operates a hardware shop along Jalan Muara however attributed the lack of interest by Bruneians in the private sector to being choosy.
“Many Bruneians think that certain jobs, especially those involving hard labour, to be of lower standard and beneath them. This is why they treat such jobs as a way to just kill time,” he said, adding that only two of his six workers are of Brunei origin.
“We have tried looking for local employees by advertising but we seldom get applicants. In the end we have to resort to hiring foreigners and even then there is limited quota for them,” said Alex. — The Brunei Times
Read more..Jay, a director from the construction line, said his company had always been very active in promoting the hiring of locals because they see it as a means to help out the Bruneian community by providing them with not only stable jobs but also training.
“We always offer them good positions with good income and also training that will help them develop skills that they can rely on in the future, but they always take things for granted and never take the job seriously,” said the man in his mid-fifties.
He said that, at present, only approximately 25 per cent of his entire workforce of some 40 people is comprised of Bruneians, with the majority being Malaysians.
“We do have locals applying but the problem is that they never stay long. They will always hop to an easier job whenever the opportunity arises, especially if it is an offer from the government,” said Jay, adding that there have been cases where Bruneian employees had resigned within a week after starting work.
Another issue he raised was how many of his previous local employees had time after time failed to stick to the work schedule.
“We try to give them training so they can equip themselves with better skills but this is hard to do when your workers fail to show up on time or leave for unscheduled lunch breaks whenever they feel like it. Some will not even show up for more than three working days a week,” he said.
“I think if more locals were willing to tough it out and be more serious when it comes to working with the private sector then there will be less complaints of unemployment here.
“Working for the private sector can lead to a proper career… it is not just a stepping stone while waiting for an offer from the government,” he added.
Similar experiences were shared by Hj Rushdi El-Hakim Dato Seri Setia Hj Ibrahim, managing director of Mimit E-Technology.
Rushdi said that trying to hire and maintain local employees was one of the main problems faced by the private sector.
“There is a lack of young people interested in working for the private sector now but (they have to realise) that we are the backbone of the public sector, we help them grow,” he said.
“If you ask people, they will always say they want to work for the government because of the benefits, holidays and the salary. These are the culprits that always make me lose my workers,” said the managing director, adding that he has, thus far, recruited and lost six Bruneians, all to the government.
He informed The Brunei Times that he did not mind losing his workers to the government as long as they were willing to spend one or two years to learn and gain experience from the private sector.
“I do not teach them only ICT but also other skills such as research and communication (presentation). They will then be able to bring with them these skills to the government and contribute to the country,” he said.
“I may benefit more from hiring foreigners but if I am transferring knowledge then they will not contribute to my country, they will take it somewhere else,” he said.
Alex Lim who operates a hardware shop along Jalan Muara however attributed the lack of interest by Bruneians in the private sector to being choosy.
“Many Bruneians think that certain jobs, especially those involving hard labour, to be of lower standard and beneath them. This is why they treat such jobs as a way to just kill time,” he said, adding that only two of his six workers are of Brunei origin.
“We have tried looking for local employees by advertising but we seldom get applicants. In the end we have to resort to hiring foreigners and even then there is limited quota for them,” said Alex. — The Brunei Times
Thursday, February 25, 2010 | Labels: human resources and employment | 0 Comments
Private sector urged to assume more responsibilities to promote tourism
THE private sector in Brunei should take on additional responsibilities in helping with promoting Brunei’s tourism, said Sheikh Jamaluddin Sheikh Mohamed, Brunei Tourism Board director.
He added that with the concerns raised from the buyers from the recent Asean Tourism Forum (ATF) 2010, regarding Brunei as a tourist destination, the commercial sector of Brunei should start concentrating on issues such as transportation, building maintenance and public cleanliness as part of their national duty. The tourism director added that this would be one of this year’s concerns that he and the tourism board, as well as other relevant government ministries, will step in to help with improving the Sultanate’s image.
“Public toilets are one of the biggest concerns that we have, and I have visited a few department stores and seen their public restrooms, and the floors are wet, there is no toilet paper and it is unclean, and the department stores themselves are selling these items,” said Sheikh Jamaluddin. He compared the issue to other countries that have managed to find ways to maintain the public cleanliness of restrooms as well as provide rubbish bins around and made some recommendations where the commercial sector in Brunei may follow.
“In other countries, if the department store doesn’t want to incur any additional expenses, they would charge per entry to the restroom, which is reasonable, such as 20 cents and they can collect the revenue this way to pay for the additional expenses incurred,” he said. He added that these sort of costs have to be taken into consideration to help maintain the business and promote a good image for the country. Sheikh Jamaluddin also said that this year there will be added pressure from government ministries on the commercial sector to concentrate on public cleanliness.
Another concern that has made headlines included public transportation, which is one of the issues raised by the buyers at the recent ATF, where they said that the lack of public transportation in Brunei makes it difficult to sell Brunei as a tourist destination. Sheikh Jamaluddin said that the relevant ministry in Brunei is coming up with a strategic plan to tackle this issue, and applauds the hotel industry for putting in the effort to provide free bus and taxis to the main shopping districts in Brunei, such as Gadong, Kiulap, Bandar Seri Begawan and the airport.
“The transport provided by hotels to shuttle tourists to and from the destinations at specific times helps make it easier for tourists to get around, but the ministry concerned will be coming up with a plan to tackle the taxi and bus issues,” he said.
Buyers have also commented that the maintenance of buildings in Brunei could be improved to sell Brunei as a tourist destination. The tourism director said that these issues show that “everybody has to play their part to help with tourism”. “These are ongoing issues that are being addressed by the government, and it has to involve all stakeholders to market Brunei to the world,” he said. - The Brunei Times
Read more..He added that with the concerns raised from the buyers from the recent Asean Tourism Forum (ATF) 2010, regarding Brunei as a tourist destination, the commercial sector of Brunei should start concentrating on issues such as transportation, building maintenance and public cleanliness as part of their national duty. The tourism director added that this would be one of this year’s concerns that he and the tourism board, as well as other relevant government ministries, will step in to help with improving the Sultanate’s image.
“Public toilets are one of the biggest concerns that we have, and I have visited a few department stores and seen their public restrooms, and the floors are wet, there is no toilet paper and it is unclean, and the department stores themselves are selling these items,” said Sheikh Jamaluddin. He compared the issue to other countries that have managed to find ways to maintain the public cleanliness of restrooms as well as provide rubbish bins around and made some recommendations where the commercial sector in Brunei may follow.
“In other countries, if the department store doesn’t want to incur any additional expenses, they would charge per entry to the restroom, which is reasonable, such as 20 cents and they can collect the revenue this way to pay for the additional expenses incurred,” he said. He added that these sort of costs have to be taken into consideration to help maintain the business and promote a good image for the country. Sheikh Jamaluddin also said that this year there will be added pressure from government ministries on the commercial sector to concentrate on public cleanliness.
Another concern that has made headlines included public transportation, which is one of the issues raised by the buyers at the recent ATF, where they said that the lack of public transportation in Brunei makes it difficult to sell Brunei as a tourist destination. Sheikh Jamaluddin said that the relevant ministry in Brunei is coming up with a strategic plan to tackle this issue, and applauds the hotel industry for putting in the effort to provide free bus and taxis to the main shopping districts in Brunei, such as Gadong, Kiulap, Bandar Seri Begawan and the airport.
“The transport provided by hotels to shuttle tourists to and from the destinations at specific times helps make it easier for tourists to get around, but the ministry concerned will be coming up with a plan to tackle the taxi and bus issues,” he said.
Buyers have also commented that the maintenance of buildings in Brunei could be improved to sell Brunei as a tourist destination. The tourism director said that these issues show that “everybody has to play their part to help with tourism”. “These are ongoing issues that are being addressed by the government, and it has to involve all stakeholders to market Brunei to the world,” he said. - The Brunei Times
Thursday, February 25, 2010 | Labels: sme, tourism | 0 Comments
Asean SMEs adopt common template
PARTICIPANTS of the recently concluded Asean workshop on “Sharing of Best Practices on the Establishment of SME Financial Facility” at the Rizqun International Hotel, Gadong have adopted a new template in trying to track and monitor the quarterly progress of small and medium enterprises (SME) financing facilities.
Head of the Entrepreneurial Development Centre (EDC) and coordinator of the workshop Effandi Hj Salleh said that the template, which was previously used by SME Bank Malaysia, will now be adopted by all the Asean member states.
He explained that the “standardised” template will cater for any projects to be initiated by the relevant authorities of the respective countries, allowing further evaluation for financial facilities.
“Basically the template will help track and monitor SME financing facilities in Asean member states,” he said, adding that each country will build the template based on projects they are trying to initiate.
“For example, in Brunei, we are trying to look at how to reduce non-performing loans (NPL). This template will help us to monitor and reduce NPLs in such a way that we will not face any problems in the future,” said Effandi.
“How are we going to reduce this loan? How can we do it and what are our objectives? All of this will be in the template,” he added.
The EDC head said that participants of the workshop had all taken a look at the template and found it very useful and applicable for all the Asean states.
“We will forward the template with all explanations to the Asean secretariat once every three months. The Asean secretariat will compile and evaluate it to come up with a report to track how well we are doing,” he said.
Speaking of the workshop, Effandi informed The Brunei Times that it was quite successful as all the Asean countries managed to share information and experiences of the financial facilities in their respective countries.
“For countries with such facilities, we try to evaluate and provide input on what is needed to make these facilities more successful in terms of its implementation,” he said, adding that those without were suggested to try to come up with similar framework models.
He added that another thing that was suggested was a continuation of the workshop where foreign experts with vast experience and knowledge from financial facilities like banks will be flown in to help transfer knowledge.
“Although we have done this ourselves, there might be other best practices that we can use as a model,” said Effandi.
The two-day workshop, held on February 3 and 4, was a joint cooperation project initiated by Brunei and Malaysia as one of the four flagship projects for SME Development under the Asean Economic Community Blueprint 2009-2011.
The outcomewill be presented during the 26th Asean SME Working Group Meeting, scheduled to take place in Bangkok in May. - The Brunei Times
Read more..Head of the Entrepreneurial Development Centre (EDC) and coordinator of the workshop Effandi Hj Salleh said that the template, which was previously used by SME Bank Malaysia, will now be adopted by all the Asean member states.
He explained that the “standardised” template will cater for any projects to be initiated by the relevant authorities of the respective countries, allowing further evaluation for financial facilities.
“Basically the template will help track and monitor SME financing facilities in Asean member states,” he said, adding that each country will build the template based on projects they are trying to initiate.
“For example, in Brunei, we are trying to look at how to reduce non-performing loans (NPL). This template will help us to monitor and reduce NPLs in such a way that we will not face any problems in the future,” said Effandi.
“How are we going to reduce this loan? How can we do it and what are our objectives? All of this will be in the template,” he added.
The EDC head said that participants of the workshop had all taken a look at the template and found it very useful and applicable for all the Asean states.
“We will forward the template with all explanations to the Asean secretariat once every three months. The Asean secretariat will compile and evaluate it to come up with a report to track how well we are doing,” he said.
Speaking of the workshop, Effandi informed The Brunei Times that it was quite successful as all the Asean countries managed to share information and experiences of the financial facilities in their respective countries.
“For countries with such facilities, we try to evaluate and provide input on what is needed to make these facilities more successful in terms of its implementation,” he said, adding that those without were suggested to try to come up with similar framework models.
He added that another thing that was suggested was a continuation of the workshop where foreign experts with vast experience and knowledge from financial facilities like banks will be flown in to help transfer knowledge.
“Although we have done this ourselves, there might be other best practices that we can use as a model,” said Effandi.
The two-day workshop, held on February 3 and 4, was a joint cooperation project initiated by Brunei and Malaysia as one of the four flagship projects for SME Development under the Asean Economic Community Blueprint 2009-2011.
The outcomewill be presented during the 26th Asean SME Working Group Meeting, scheduled to take place in Bangkok in May. - The Brunei Times
Thursday, February 25, 2010 | Labels: sme | 0 Comments
APEC officials talk up integration
SENIOR officials from Pacific Rim economies agreed Tuesday to accelerate economic integration in the region, including the creation of a free-trade area.
Ending a two-day meeting in Hiroshima, where Japan formally took up its chairmanship of the Asia-Pacific Economic Cooperation forum for 2010, they also confirmed there is more work to be done, including assessing how much their trade has been liberalized and compiling an economic growth strategy, before APEC leaders gather for their summit later this year in Yokohama.
"We still have a long way to go but were able to make a good start," one of the Japanese delegates said after the meeting.
The officials will next meet between May 24 and June 4, just ahead of an APEC trade ministers meeting in Sapporo. The annual APEC summit is scheduled for Nov. 13 and 14.
APEC, which accounts for half the world's economic output and more than 40 percent of its trade value, groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the United States and Vietnam. - Japan Times
Read more..Ending a two-day meeting in Hiroshima, where Japan formally took up its chairmanship of the Asia-Pacific Economic Cooperation forum for 2010, they also confirmed there is more work to be done, including assessing how much their trade has been liberalized and compiling an economic growth strategy, before APEC leaders gather for their summit later this year in Yokohama.
"We still have a long way to go but were able to make a good start," one of the Japanese delegates said after the meeting.
The officials will next meet between May 24 and June 4, just ahead of an APEC trade ministers meeting in Sapporo. The annual APEC summit is scheduled for Nov. 13 and 14.
APEC, which accounts for half the world's economic output and more than 40 percent of its trade value, groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the United States and Vietnam. - Japan Times
Thursday, February 25, 2010 | Labels: trade | 0 Comments
Tax Evasion Rampant Despite Treaties With Tax Havens
NEW cases of tax evasion in several European countries are showing the limits of the informal agreements reached between the Organisation for Economic Cooperation and Development (OECD) and tax havens such as Switzerland, Luxembourg and Liechtenstein.
The cases surfaced in January when anonymous former clerks at Swiss private banks offered the German ministry of finance copies of CDs containing data on German citizens who maintain secret bank accounts in Switzerland, and who use them to evade taxes.
Early February the German government announced that it would buy the CDs, for some two million euros (2.7 million US dollars). The data contained in the CDs would allow the German fiscal authorities to legally pursue the evaders and collect more than 400 million euros (543 million dollars) in additional taxes.
The government's decision to buy the CDs and use the data to launch inquiries into the tax evaders' financial dealings have triggered a wave of corrected tax declarations in recent weeks.
Allegedly, more than 3,000 German citizens have, since the beginning of February, presented new tax declarations, hoping to avoid judicial inquiries and possible prison sentences.
Similar cases have been reported in France and even in Switzerland.
According to surveys by the Swiss press, at least 300 tax evaders have filed new corrected declarations in February. In France, fiscal authorities have bought several CDs containing data on secret bank accounts held by French citizens in Swiss banks, and launched prosecutions.
In the German case, the government's decision to buy the CDs also led to diplomatic quarrels with Swiss authorities. Swiss high-ranking government officials accused the German government of complicity with thieves who have stolen the data from private banks.
At a press conference on Feb. 21, the Swiss minister of justice Eveline Widmer Schlumpf even accused Germany of "fencing." Widmer Schlumpf added that her government will not cooperate with Germany in its fight against tax evasion as long as "it uses data stolen [in Switzerland] to substantiate its claims."
These affairs confirm that tax evasion continues to take place on a large scale in Europe, despite the agreements reached in 2009 by the OECD and European tax havens.
According to estimates by the U.S. senate, tax evasion represents global revenue losses of up to 100 billion dollars a year for states. "In many European countries the sums run into billions of euros," says a recent OECD paper on the issue, released Feb. 18.
One year ago, in the wake of the global financial crisis that illustrated the troublesome consequences of financial deregulation, the OECD agreed with fiscal authorities in countries such as Switzerland, Liechtenstein and Luxembourg to improve tax transparency and push forward a more effective exchange of information in matters related to international capital movements and tax evasion.
According to the OECD, "Since the April 2009 … almost 300 tax agreements have been signed to meet [the group's] standards on tax transparency and effective exchange of information. All OECD and G20 countries are committed to these standards."
Switzerland is member of the OECD.
At the time of the agreement, the OECD secretary general Angel Gurría said, "What we are witnessing [in the fight against tax evasion] is nothing short of a revolution. By addressing the challenges posed by the dark side of the tax world, the campaign for global tax transparency is in full flow."
With the OECD agreement with European tax havens, "we have equipped ourselves with the institutional means to continue the campaign," Gurría added. "With the crisis, global public opinion’s expectations are high, their tolerance of non-compliance is zero and we must deliver".
The OECD also elaborated two lists of tax havens. One includes all OECD countries and territories under European or U.S. jurisdiction, which had signed the agreement with the organisation.
The other register, officially labelled black list, records all other non- European countries which offer very low or no tax at all to foreign capitals, and which did not put in practice the norms and standards set up by the OECD.
Despite the evidence that such agreements and grey lists have at best only symbolic value, on Feb. 22 the French government released yet another black list of tax havens, with 18 countries or territories in the developing world. The list includes six islands in the Caribbean and Oceania, as well as four Central American countries, Brunei, the Philippines, and Kenya.
All capital transfers between France and these 18 territories is being imposed with a 50 percent tax.
But, as the French tax expert Dominique Richard noted in a comment for the newspaper ‘Sud Ouest,’ "none of the big European tax havens, used by international capital, from Luxembourg to Monaco, appears in the French black list. All these big accomplices of tax evasion and money laundering have cheaply regained their virginity [before the OECD] by signing symbolic agreements."
French unions point out that the tax justice and transparency the French government demands internationally does not operate within the country. "The tax rate for small French enterprises reaches 28 percent upon their net operating surpluses. But the 40 largest French enterprises pay only eight percent," the Sud fiscal union (the union's office at the ministry of finances) said in a communiqué.
In Germany, the wave of new corrected tax declarations is moving parliamentarians to considering abolishing the impunity offered to tax evaders who voluntarily correct their own tax declarations.
The German penal code sanctions tax evasion with prison sentences of up to 10 years. But if tax evaders by their own will correct their revenue declarations, the law foresees no sanction other than the payment of the evaded taxes and the corresponding interests.
On Feb 22, Leo Dautzenberg, in charge of fiscal policy at the ruling Christian Democratic Union party, said at a press conference: "The present wave of corrected tax declarations proves that tax evaders act out of fear. The parliament should correct the impunity for such crimes."
Dieter Ondracek, chairperson of the fiscal union, also complained that German penal law grants impunity to tax evaders, unparalleled in other law enforcement areas. "The tax evaders' sudden honesty is simply the consequence of the fear, and of the promise of impunity," Ondracek told IPS. - IPS News
Read more..The cases surfaced in January when anonymous former clerks at Swiss private banks offered the German ministry of finance copies of CDs containing data on German citizens who maintain secret bank accounts in Switzerland, and who use them to evade taxes.
Early February the German government announced that it would buy the CDs, for some two million euros (2.7 million US dollars). The data contained in the CDs would allow the German fiscal authorities to legally pursue the evaders and collect more than 400 million euros (543 million dollars) in additional taxes.
The government's decision to buy the CDs and use the data to launch inquiries into the tax evaders' financial dealings have triggered a wave of corrected tax declarations in recent weeks.
Allegedly, more than 3,000 German citizens have, since the beginning of February, presented new tax declarations, hoping to avoid judicial inquiries and possible prison sentences.
Similar cases have been reported in France and even in Switzerland.
According to surveys by the Swiss press, at least 300 tax evaders have filed new corrected declarations in February. In France, fiscal authorities have bought several CDs containing data on secret bank accounts held by French citizens in Swiss banks, and launched prosecutions.
In the German case, the government's decision to buy the CDs also led to diplomatic quarrels with Swiss authorities. Swiss high-ranking government officials accused the German government of complicity with thieves who have stolen the data from private banks.
At a press conference on Feb. 21, the Swiss minister of justice Eveline Widmer Schlumpf even accused Germany of "fencing." Widmer Schlumpf added that her government will not cooperate with Germany in its fight against tax evasion as long as "it uses data stolen [in Switzerland] to substantiate its claims."
These affairs confirm that tax evasion continues to take place on a large scale in Europe, despite the agreements reached in 2009 by the OECD and European tax havens.
According to estimates by the U.S. senate, tax evasion represents global revenue losses of up to 100 billion dollars a year for states. "In many European countries the sums run into billions of euros," says a recent OECD paper on the issue, released Feb. 18.
One year ago, in the wake of the global financial crisis that illustrated the troublesome consequences of financial deregulation, the OECD agreed with fiscal authorities in countries such as Switzerland, Liechtenstein and Luxembourg to improve tax transparency and push forward a more effective exchange of information in matters related to international capital movements and tax evasion.
According to the OECD, "Since the April 2009 … almost 300 tax agreements have been signed to meet [the group's] standards on tax transparency and effective exchange of information. All OECD and G20 countries are committed to these standards."
Switzerland is member of the OECD.
At the time of the agreement, the OECD secretary general Angel Gurría said, "What we are witnessing [in the fight against tax evasion] is nothing short of a revolution. By addressing the challenges posed by the dark side of the tax world, the campaign for global tax transparency is in full flow."
With the OECD agreement with European tax havens, "we have equipped ourselves with the institutional means to continue the campaign," Gurría added. "With the crisis, global public opinion’s expectations are high, their tolerance of non-compliance is zero and we must deliver".
The OECD also elaborated two lists of tax havens. One includes all OECD countries and territories under European or U.S. jurisdiction, which had signed the agreement with the organisation.
The other register, officially labelled black list, records all other non- European countries which offer very low or no tax at all to foreign capitals, and which did not put in practice the norms and standards set up by the OECD.
Despite the evidence that such agreements and grey lists have at best only symbolic value, on Feb. 22 the French government released yet another black list of tax havens, with 18 countries or territories in the developing world. The list includes six islands in the Caribbean and Oceania, as well as four Central American countries, Brunei, the Philippines, and Kenya.
All capital transfers between France and these 18 territories is being imposed with a 50 percent tax.
But, as the French tax expert Dominique Richard noted in a comment for the newspaper ‘Sud Ouest,’ "none of the big European tax havens, used by international capital, from Luxembourg to Monaco, appears in the French black list. All these big accomplices of tax evasion and money laundering have cheaply regained their virginity [before the OECD] by signing symbolic agreements."
French unions point out that the tax justice and transparency the French government demands internationally does not operate within the country. "The tax rate for small French enterprises reaches 28 percent upon their net operating surpluses. But the 40 largest French enterprises pay only eight percent," the Sud fiscal union (the union's office at the ministry of finances) said in a communiqué.
In Germany, the wave of new corrected tax declarations is moving parliamentarians to considering abolishing the impunity offered to tax evaders who voluntarily correct their own tax declarations.
The German penal code sanctions tax evasion with prison sentences of up to 10 years. But if tax evaders by their own will correct their revenue declarations, the law foresees no sanction other than the payment of the evaded taxes and the corresponding interests.
On Feb 22, Leo Dautzenberg, in charge of fiscal policy at the ruling Christian Democratic Union party, said at a press conference: "The present wave of corrected tax declarations proves that tax evaders act out of fear. The parliament should correct the impunity for such crimes."
Dieter Ondracek, chairperson of the fiscal union, also complained that German penal law grants impunity to tax evaders, unparalleled in other law enforcement areas. "The tax evaders' sudden honesty is simply the consequence of the fear, and of the promise of impunity," Ondracek told IPS. - IPS News
Thursday, February 25, 2010 | Labels: government and economy | 0 Comments
Philippines' oil firms hike gasoline, diesel prices
AFTER enjoying a series of oil price cuts, Philippines' motorists will again have to pay more for fuel products. Oil companies Chevron Philippines Inc., Eastern Petroleum Corp., Petron Corp. and Seaoil Philippines Inc. increased on Tuesday morning the price of gasoline and diesel by P1 per liter to reflect an increase in the weekly oil prices in the world oil market.
This Wednesday morning, Phoenix Petroleum Philippines Inc. also adjusted its gasoline and diesel prices by P1 per liter.
As of February 22, the Department of Energy (DOE) monitoring showed that the average price of unleaded gasoline at the Mean of Platts Singapore (MOPS) increased to $86 per barrel this month from $88 per barrel.
The average price of MOPS-based diesel also jumped to $82 per barrel this month from $82 per barrel last month.
Oil refiner benchmark, Dubai crude, according to DOE, increased to $73 per barrel this month from $77 a barrel in January.
DOE said the international contract price of liquefied petroleum gas (LPG) dropped to $735 a metric ton (MT) this month from $736.50 per MT in January.
A source told the BusinessMirror that the supposed reduction in the import duties of petroleum products to zero instead of 3 percent has yet to be implemented.
The source, who requested anonymity, said Energy Secretary Angelo Reyes is set to meet with the Tariff Commission, Bureau of Customs and oil companies to discuss and clear the bottlenecks that block the implementation of the said tariff cut.
The tariff cut through Executive Order 850, which Malacañang issued on December 23, 2009, and was expected to reduce the cost of petroleum products by as much as P0.70 per liter, was supposed to be implemented in January.
EO 850 is part of the government’s commitment to eliminate the tariff rates on the remaining products on the inclusion list in 2010 under the Common Effective Preferential Tariff (CEPT) scheme for the Asean Free-Trade Area (Afta) and the Asean Trade in Goods Agreement.
The Afta countries include the Philippines, Indonesia, Malaysia, Thailand, Singapore and Brunei, or the Asean 6.
Among the issues that hinder the implementation, the source said, is the required form the Bureau of Customs (BOC) would have to check or validate with the source countries that are part of the six countries under the Afta.
“BOC has to validate whether the imports come from the source countries within the Asean 6, otherwise the government could either lose revenues or does not get to conform with the agreement it entered with the Asean 6, if it just implements the tariff cut,” the source said.
Another issue DOE wants to check with BOC, according to the source, is whether the tariff cut brought about by the EO is retroactive.
Reyes earlier said President Arroyo issued EO 850, which will reduce the import tariff of petroleum products to zero from 3 percent. EO 850 was issued to modify the rate of duty on certain imported articles as provided under the Tariff and Customs Code of 1976.
Reyes said the reduction in import duties will bring down prices of petroleum products by P0.70 per liter. - Business Mirror
Read more..This Wednesday morning, Phoenix Petroleum Philippines Inc. also adjusted its gasoline and diesel prices by P1 per liter.
As of February 22, the Department of Energy (DOE) monitoring showed that the average price of unleaded gasoline at the Mean of Platts Singapore (MOPS) increased to $86 per barrel this month from $88 per barrel.
The average price of MOPS-based diesel also jumped to $82 per barrel this month from $82 per barrel last month.
Oil refiner benchmark, Dubai crude, according to DOE, increased to $73 per barrel this month from $77 a barrel in January.
DOE said the international contract price of liquefied petroleum gas (LPG) dropped to $735 a metric ton (MT) this month from $736.50 per MT in January.
A source told the BusinessMirror that the supposed reduction in the import duties of petroleum products to zero instead of 3 percent has yet to be implemented.
The source, who requested anonymity, said Energy Secretary Angelo Reyes is set to meet with the Tariff Commission, Bureau of Customs and oil companies to discuss and clear the bottlenecks that block the implementation of the said tariff cut.
The tariff cut through Executive Order 850, which Malacañang issued on December 23, 2009, and was expected to reduce the cost of petroleum products by as much as P0.70 per liter, was supposed to be implemented in January.
EO 850 is part of the government’s commitment to eliminate the tariff rates on the remaining products on the inclusion list in 2010 under the Common Effective Preferential Tariff (CEPT) scheme for the Asean Free-Trade Area (Afta) and the Asean Trade in Goods Agreement.
The Afta countries include the Philippines, Indonesia, Malaysia, Thailand, Singapore and Brunei, or the Asean 6.
Among the issues that hinder the implementation, the source said, is the required form the Bureau of Customs (BOC) would have to check or validate with the source countries that are part of the six countries under the Afta.
“BOC has to validate whether the imports come from the source countries within the Asean 6, otherwise the government could either lose revenues or does not get to conform with the agreement it entered with the Asean 6, if it just implements the tariff cut,” the source said.
Another issue DOE wants to check with BOC, according to the source, is whether the tariff cut brought about by the EO is retroactive.
Reyes earlier said President Arroyo issued EO 850, which will reduce the import tariff of petroleum products to zero from 3 percent. EO 850 was issued to modify the rate of duty on certain imported articles as provided under the Tariff and Customs Code of 1976.
Reyes said the reduction in import duties will bring down prices of petroleum products by P0.70 per liter. - Business Mirror
Thursday, February 25, 2010 | Labels: energy | 0 Comments
Co-ops told to prepare financial records
COOPERATIVES should diligently prepare their financial statements to be able to better manage its business, an officer at the Brunei Industrial Development Authority (BINA) said.
During RTB’s morning show “Rampai Pagi” last week, Awg Md Serudin bin Hj Tuah, head of the accounts and audit unit at BINA’s Cooperative Development Division, warned “if cooperatives’ accounts are not organised and updated, it will drag the cooperative into various problems and eventually the cooperative will become weak and fail to function.”
Citing department statistics, he said that until December 2008, out of 165 registered cooperatives, only 13 per cent provided their financial statements every year.
“This failure was mainly caused by the weakness coming from the cooperative management, this includes failure to prepare the cooperative financial statement immediately after the end of the financial year to be audited annually and presented to the cooperative annual general meeting,” he said.
“Please note, that the cooperatives administration and management that are not properly managed, organised will result in some things in which the cooperative cannot plan for the future accurately and effectively,” Awg Md Serudin said.
A cooperative’s board of directors, for instance, cannot make any financial decisions due to lack of financial statements, he said. “The financial statements cannot be prepared to be audited and tabled in the general meeting; and making it worse, members will feel very disappointed and lose confidence towards the leadership of the board of directors itself,” he warned.
Awg Md Serudin said one of the roles of BINA in overseeing cooperatives is to audit their financial accounts.
But if they choose, he said, cooperatives may hire an external auditor as long as they have the go-ahead from their board of directors.
Among the advantages in preparing financial statements are: The cooperative financial management can be managed more systematically and effectively;
Auditing works can be conducted easily;
The cooperative business performance can easily be seen whether it will give good returns to its members or otherwise;
The cooperative annual general meeting can be held soon;
It shows the efficiency of the management and administration of the board of directors;
It gives confidence to existing members to continue giving their support and commitment to the cooperative. - The Brunei Times
Read more..During RTB’s morning show “Rampai Pagi” last week, Awg Md Serudin bin Hj Tuah, head of the accounts and audit unit at BINA’s Cooperative Development Division, warned “if cooperatives’ accounts are not organised and updated, it will drag the cooperative into various problems and eventually the cooperative will become weak and fail to function.”
Citing department statistics, he said that until December 2008, out of 165 registered cooperatives, only 13 per cent provided their financial statements every year.
“This failure was mainly caused by the weakness coming from the cooperative management, this includes failure to prepare the cooperative financial statement immediately after the end of the financial year to be audited annually and presented to the cooperative annual general meeting,” he said.
“Please note, that the cooperatives administration and management that are not properly managed, organised will result in some things in which the cooperative cannot plan for the future accurately and effectively,” Awg Md Serudin said.
A cooperative’s board of directors, for instance, cannot make any financial decisions due to lack of financial statements, he said. “The financial statements cannot be prepared to be audited and tabled in the general meeting; and making it worse, members will feel very disappointed and lose confidence towards the leadership of the board of directors itself,” he warned.
Awg Md Serudin said one of the roles of BINA in overseeing cooperatives is to audit their financial accounts.
But if they choose, he said, cooperatives may hire an external auditor as long as they have the go-ahead from their board of directors.
Among the advantages in preparing financial statements are: The cooperative financial management can be managed more systematically and effectively;
Auditing works can be conducted easily;
The cooperative business performance can easily be seen whether it will give good returns to its members or otherwise;
The cooperative annual general meeting can be held soon;
It shows the efficiency of the management and administration of the board of directors;
It gives confidence to existing members to continue giving their support and commitment to the cooperative. - The Brunei Times
Thursday, February 25, 2010 | Labels: sme | 0 Comments
UOB targets rise in commercial lending
THE United Overseas Bank is targeting to boost commercial lending this year, banking that more government projects are slated to start this year.
“For sure we will be targeting clients involved in that, and we are going to be very pro-active because we want to grow with our existing customers and at the same time we want to open our arms to potential ones,” said Abd Razak Abd Malek, vice president and general manager of UOB branch in Brunei.
He said the bank’s strength is in consumer lending and mortgages and commercial loans, but that the bank is keen to grow its commercial lending segment.
He said the bank is going to look at “viable contracts”, be it from Brunei Shell Petroleum or the government.
At the end of last year, most of the banks in Brunei speculated that commercial banking will start to grow this year specifically within the construction industry due to big contracts that are to be awarded this year from the government.
“There is definitely growth next year because I believe there will be more government contracts next year,” said Lim Yu Kwang, general manager of SME, and mortgages of Standard Chartered Bank, last year during an interview. “So from what we see, there is a positive growth, more on the construction businesses.”
Abd Razak said the bank will be looking for new customers by letting new customers know about the existing packages that UOB has, adding that the bank is flexible in a way that the packages can be renegotiated based on the customers’ needs.
Abd Razak was named as chairman of the Brunei Association of Banks this year, a role which to his knowledge will mean he will act as liaison officer between the banks and the government. “It will be more on how to improve the economy of Brunei by helping on banking matters, and there is an ongoing discussion on what needs to be done right now,” he said.
Asked about the recent credit card regulations that have been enforced by the Ministry of Finance, Abd Razak said that he is unable to comment on that issue yet, as the chairman of the Brunei Association of Banks because “different banks may have different practices but it is an ongoing discussion”.
With the new regulations stating individuals can only be granted credit cards at banks where they have their payroll, Abd Razak said the bank’s plan to strengthen commercial banking is one of the ways being looked at to get more customers. “We have attractive products and banking services and we are trying to get people to bank with us.” As part of the strategy and plan to be more pro-active with customers, UOB Brunei, yesterday, hosted a Chinese New Year open house at its main branch in Kg Kiarong yesterday. “UOB will take on the social responsibility to work with local businesses and individuals in contributing to the growth of the country’s economy, as relationship banking is the way forward,” said Abd Razak. - The Brunei Times
Read more..“For sure we will be targeting clients involved in that, and we are going to be very pro-active because we want to grow with our existing customers and at the same time we want to open our arms to potential ones,” said Abd Razak Abd Malek, vice president and general manager of UOB branch in Brunei.
He said the bank’s strength is in consumer lending and mortgages and commercial loans, but that the bank is keen to grow its commercial lending segment.
He said the bank is going to look at “viable contracts”, be it from Brunei Shell Petroleum or the government.
At the end of last year, most of the banks in Brunei speculated that commercial banking will start to grow this year specifically within the construction industry due to big contracts that are to be awarded this year from the government.
“There is definitely growth next year because I believe there will be more government contracts next year,” said Lim Yu Kwang, general manager of SME, and mortgages of Standard Chartered Bank, last year during an interview. “So from what we see, there is a positive growth, more on the construction businesses.”
Abd Razak said the bank will be looking for new customers by letting new customers know about the existing packages that UOB has, adding that the bank is flexible in a way that the packages can be renegotiated based on the customers’ needs.
Abd Razak was named as chairman of the Brunei Association of Banks this year, a role which to his knowledge will mean he will act as liaison officer between the banks and the government. “It will be more on how to improve the economy of Brunei by helping on banking matters, and there is an ongoing discussion on what needs to be done right now,” he said.
Asked about the recent credit card regulations that have been enforced by the Ministry of Finance, Abd Razak said that he is unable to comment on that issue yet, as the chairman of the Brunei Association of Banks because “different banks may have different practices but it is an ongoing discussion”.
With the new regulations stating individuals can only be granted credit cards at banks where they have their payroll, Abd Razak said the bank’s plan to strengthen commercial banking is one of the ways being looked at to get more customers. “We have attractive products and banking services and we are trying to get people to bank with us.” As part of the strategy and plan to be more pro-active with customers, UOB Brunei, yesterday, hosted a Chinese New Year open house at its main branch in Kg Kiarong yesterday. “UOB will take on the social responsibility to work with local businesses and individuals in contributing to the growth of the country’s economy, as relationship banking is the way forward,” said Abd Razak. - The Brunei Times
Thursday, February 25, 2010 | Labels: banking and finance | 0 Comments
New Strategies, Players Spur National Oil & Gas Industry
EIGHTY years since the production of black gold began in Brunei, the Sultanate's oil and gas sector still remains its most vital, accounting for approximately 70 per cent of the country's GDP today.
Oil exploration in Brunei can be traced back to 1899 with the first recorded well drilled close to Brunei town, now known as Bandar Seri Begawan. It was in 1929 when the first commercial find was made at Seria by the British Malayan Petroleum Company, owned by Royal Dutch Shell, which was the forerunner to the present Brunei Shell Petroleum Company Sdn Bhd (BSP).
The discovery of the South West Ampa gas field sparked plans for the Brunei LNG plant project. The Brunei LNG plant began its operation in 1972 as one of the world's first large scale liquefied natural gas plant on the coast of Brunei Darussalam. BSP continues to be in the forefront in oil and gas sector to this day.
Year 2009 was very special for the Brunei Shell Joint Venture Companies with the huge successes for its four groups of companies. BSP celebrated its 80th anniversary, Brunei LNG's 40th anniversary celebration and the Brunei Refinery celebrating its silver jubilee.
The Managing Director of BSP, Dr Grahaeme Henderson recently during the 2010 Brunei Shell Joint Venture Emblem night revealed that BSP achieved its best ever safety performance in the history of the company and the best in Shell Upstream operations worldwide last year.
This excellent safety performance is well recognised, and for the second year running, BSP also earned the prestigious Global Shell Chief Executive's Award for Health, Safety and Environment. Brunei LNG achieved five million man-hours without lost-time injuries in the past year, which included many high-exposure activities during their plant rejuvenation project.
Brunei Shell Tankers (BST) delivered 156 B-class cargoes over a distance of 700,000 nautical miles from Brunei to Japan and back, without any safety incidents in 2009. BSM has achieved an incredible eight years without lost-time injury. The staff and contractors in the Brunei Shell` joint venture companies have travelled on business in company vehicles nearly 200 million kilometres on the road during the past nine years without a single accident.
BSP is now bringing forward their own safety practices with the community across the nation, person-to-person, through the Tella-Friend campaign to prevent tragic loss of life and injuries on our roads. Despite challenging conditions, BSP has consistently delivered on its production targets since 2005. Overall, they have produced more than six billion barrels of oil and gas over eight decades in business. The delivery of the Mampak and Bugan platforms, which came on stream in 2009 was again another remarkable achievement for the company.
Brunei LNG also had a successful year, producing some 195 LNG cargoes in 2009, which in turn were delivered to customers by their own BST fleet. 2009 was also a great year for BSM when the company increased its sales and maintained its leadership in the lubricants markets.
As the economic engine of Brunei, the oil and gas sector is contributing around 90 per cent of Brunei's oil and gas revenues, half of the country's gross domestic product, and 90 per cent of exports. It has also helped local business development with more than 1.3 billion Bruneian dollars spent on local contracts.
A significant development in oil and gas exploration for the country is the establishment of the nation's Brunei National Petroleum Company Sendirian Berhad (Syarikat Petroleum Kebangsaan Brunei Sendirian Berhad) or "PetroleumBRUNEI".
According to its website, www.pb.com.bn the company's primary mission is to become an integrated Oil and Gas company with the core purpose of developing and adding value to the national resources. PetroleumBRUNEI manages the designated areas of offshore Blocks J and K, and onshore Blocks L and M, which were granted by His Majesty's Government and gazetted in accordance with the BNPC Order, 2002.
Throughout all its business undertakings, PB aims to ensure that Brunei is represented in commercial petroleum activities, both nationally and internationally. Its responsibilities include promoting and developing the national Oil and Gas industry base, and safeguarding the continuous supply of petroleum and petroleum products.
One of its major commitments and contributions to the national aspiration of widening the industrial base of the nation's hydrocarbon resources is the joint venture agreement with Mitsubishi Gas Chemical Company Inc and ITOCHU Corporation on November 21, 2005 to develop a world-class methanol plant.
Subsequently, the Brunei Methanol Company (BMC) was incorporated by the three joint venture partners on March 13, 2006 to manage and develop the Brunei Darussalam Methanol Project. PetroleumBRUNEI has taken a 25 per cent equity interest in BMC to play a direct and active part in this most significant leap in Brunei Darussalam's industrial development since the 1970s.
It is expected that the Methanol production will commence in March 2010.
Furthermore, PetroleumBRUNEI has also engaged in several production sharing agreement especially with the opening of the onshore blocks. With exploration in these blocks still ongoing, experts predict that these will also be significant to the oil and gas sector for the country.
One other company has set its sights on becoming the leading local Bumiputera Company providing various value-added services to the Oil and Gas industry in the Sultanate and throughout the region.
QAF Oilfields Services Sdn Bhd (QOS), a member of the QAF Group of companies, was incorporated as a private limited company in April 2006, with the mission to provide products and services to the oil and gas industry in Brunei and the Southeast Asian region. As stated in its company profile, QOS was established to spearhead QAF Group's active venture into the oil and gas and petrochemicals services industry.
QOS provides solutions that are driven by cost-leadership, industry-standard performance, uncompromising QHSE (Quality, Health, Safety and Respect) controls and bench-marking innovations. QOS is the current contractor to BSP and BLNG for "Integrated Inspection Services" under the broader scope of Asset Integrity Management.
The primary purpose of Asset Integrity Management is to maintain assets in a fit-for-service condition while extending its remaining life in the most reliable, safe, and cost-effective manner. - Borneo Bulletin
Read more..Oil exploration in Brunei can be traced back to 1899 with the first recorded well drilled close to Brunei town, now known as Bandar Seri Begawan. It was in 1929 when the first commercial find was made at Seria by the British Malayan Petroleum Company, owned by Royal Dutch Shell, which was the forerunner to the present Brunei Shell Petroleum Company Sdn Bhd (BSP).
The discovery of the South West Ampa gas field sparked plans for the Brunei LNG plant project. The Brunei LNG plant began its operation in 1972 as one of the world's first large scale liquefied natural gas plant on the coast of Brunei Darussalam. BSP continues to be in the forefront in oil and gas sector to this day.
Year 2009 was very special for the Brunei Shell Joint Venture Companies with the huge successes for its four groups of companies. BSP celebrated its 80th anniversary, Brunei LNG's 40th anniversary celebration and the Brunei Refinery celebrating its silver jubilee.
The Managing Director of BSP, Dr Grahaeme Henderson recently during the 2010 Brunei Shell Joint Venture Emblem night revealed that BSP achieved its best ever safety performance in the history of the company and the best in Shell Upstream operations worldwide last year.
This excellent safety performance is well recognised, and for the second year running, BSP also earned the prestigious Global Shell Chief Executive's Award for Health, Safety and Environment. Brunei LNG achieved five million man-hours without lost-time injuries in the past year, which included many high-exposure activities during their plant rejuvenation project.
Brunei Shell Tankers (BST) delivered 156 B-class cargoes over a distance of 700,000 nautical miles from Brunei to Japan and back, without any safety incidents in 2009. BSM has achieved an incredible eight years without lost-time injury. The staff and contractors in the Brunei Shell` joint venture companies have travelled on business in company vehicles nearly 200 million kilometres on the road during the past nine years without a single accident.
BSP is now bringing forward their own safety practices with the community across the nation, person-to-person, through the Tella-Friend campaign to prevent tragic loss of life and injuries on our roads. Despite challenging conditions, BSP has consistently delivered on its production targets since 2005. Overall, they have produced more than six billion barrels of oil and gas over eight decades in business. The delivery of the Mampak and Bugan platforms, which came on stream in 2009 was again another remarkable achievement for the company.
Brunei LNG also had a successful year, producing some 195 LNG cargoes in 2009, which in turn were delivered to customers by their own BST fleet. 2009 was also a great year for BSM when the company increased its sales and maintained its leadership in the lubricants markets.
As the economic engine of Brunei, the oil and gas sector is contributing around 90 per cent of Brunei's oil and gas revenues, half of the country's gross domestic product, and 90 per cent of exports. It has also helped local business development with more than 1.3 billion Bruneian dollars spent on local contracts.
A significant development in oil and gas exploration for the country is the establishment of the nation's Brunei National Petroleum Company Sendirian Berhad (Syarikat Petroleum Kebangsaan Brunei Sendirian Berhad) or "PetroleumBRUNEI".
According to its website, www.pb.com.bn the company's primary mission is to become an integrated Oil and Gas company with the core purpose of developing and adding value to the national resources. PetroleumBRUNEI manages the designated areas of offshore Blocks J and K, and onshore Blocks L and M, which were granted by His Majesty's Government and gazetted in accordance with the BNPC Order, 2002.
Throughout all its business undertakings, PB aims to ensure that Brunei is represented in commercial petroleum activities, both nationally and internationally. Its responsibilities include promoting and developing the national Oil and Gas industry base, and safeguarding the continuous supply of petroleum and petroleum products.
One of its major commitments and contributions to the national aspiration of widening the industrial base of the nation's hydrocarbon resources is the joint venture agreement with Mitsubishi Gas Chemical Company Inc and ITOCHU Corporation on November 21, 2005 to develop a world-class methanol plant.
Subsequently, the Brunei Methanol Company (BMC) was incorporated by the three joint venture partners on March 13, 2006 to manage and develop the Brunei Darussalam Methanol Project. PetroleumBRUNEI has taken a 25 per cent equity interest in BMC to play a direct and active part in this most significant leap in Brunei Darussalam's industrial development since the 1970s.
It is expected that the Methanol production will commence in March 2010.
Furthermore, PetroleumBRUNEI has also engaged in several production sharing agreement especially with the opening of the onshore blocks. With exploration in these blocks still ongoing, experts predict that these will also be significant to the oil and gas sector for the country.
One other company has set its sights on becoming the leading local Bumiputera Company providing various value-added services to the Oil and Gas industry in the Sultanate and throughout the region.
QAF Oilfields Services Sdn Bhd (QOS), a member of the QAF Group of companies, was incorporated as a private limited company in April 2006, with the mission to provide products and services to the oil and gas industry in Brunei and the Southeast Asian region. As stated in its company profile, QOS was established to spearhead QAF Group's active venture into the oil and gas and petrochemicals services industry.
QOS provides solutions that are driven by cost-leadership, industry-standard performance, uncompromising QHSE (Quality, Health, Safety and Respect) controls and bench-marking innovations. QOS is the current contractor to BSP and BLNG for "Integrated Inspection Services" under the broader scope of Asset Integrity Management.
The primary purpose of Asset Integrity Management is to maintain assets in a fit-for-service condition while extending its remaining life in the most reliable, safe, and cost-effective manner. - Borneo Bulletin
Thursday, February 25, 2010 | Labels: energy | 0 Comments
Brunei guns for Mideast tourist market
BRUNEI Tourism is attending the Arabian Travel Market in May in Dubai in a bid to lure more tourists from the Middle-East market.
Hj Mohamed Tali Hj Abdul Rahman, assistant director of promotion and marketing of Brunei Tourism, said Brunei Tourism wants to unlock business potential within the Middle East for inbound and outbound tourism professionals.
The expo is on May 4-7.
“Tourism destinations from the Middle East and around the world showcase a diverse range of accommodation options, breathtaking tourism attractions and new airline routes,” the Arabian Travel Market’s website said.
Brunei Tourism also wants to parlay a tourism alliance with Oman to attract more tourists from the region.
Hj Mohamed Tali said cooperation between Brunei and Oman can teach the Sultanate on preserving its culture, natural resources and heritage.
Hj Mohamed Tali was part of the Bruneian delegation to Oman led by Minister of Industry and Primary Resources Pehin Orang Kaya Seri Utama Dato Seri Setia Hj Yahya Begawan Mudim Dato Paduka Hj Bakar.
“It was a brief discussion and we talked about the possible cooperation and on what areas we would like to learn from their side and what they are doing for 2010,” Hj Mohamed Tali said.
The interesting parts for what Brunei can take from Oman are mainly on how they are focused strongly on culture, nature and heritage.
“Their main market are the neighbouring United Arab Emirates countries, United Kingdom and Germany. Oman has an organised infrastructure which is clean with beautiful sceneries … It’s good for families who like to go on holiday, resorts and to learn about a country’s heritage,” he said.
News of Oman and Brunei exploring areas of cooperation in tourism was first reported by the Oman News Agency (ONA) earlier this month.
Omani Tourism Minister Dr Rajha Abdulameer bin Ali met Pehin Dato Hj Yahya to review means of establishing new infrastructure and encouraging foreign investment in Oman.
Dr Rajha briefed the Brunei delegation on the tourism development strategy pursued by Oman, including the promotion of domestic tourism ventures, ONA reported.
Pehin Dato Hj Yahya Hj Bakar told ONA that Brunei aimed to enhance tourism cooperation and exchange expertise and tourist groups with the Middle-East Sultanate.
Besides the Dubai expo, Brunei Tourism will be attending Shanghai’s World 2010 Expo where it will bring along travel agents catering to China, hotels and Royal Brunei Airlines, said Hj Mohamed Tali.
Brunei Tourism Board Chief Executive Sheikh Jamaluddin Sheikh Mohamed during a previous interview said that the Brunei Tourism booth will showcase Brunei’s ecotourism and places of interest.
Brunei’s tourism industry is looking up in 2010 after the Asean Tourism Forum kicked off in January followed by an increase of tourists from China, Taiwan and Vietnam in February. - The Brunei Times
Read more..Hj Mohamed Tali Hj Abdul Rahman, assistant director of promotion and marketing of Brunei Tourism, said Brunei Tourism wants to unlock business potential within the Middle East for inbound and outbound tourism professionals.
The expo is on May 4-7.
“Tourism destinations from the Middle East and around the world showcase a diverse range of accommodation options, breathtaking tourism attractions and new airline routes,” the Arabian Travel Market’s website said.
Brunei Tourism also wants to parlay a tourism alliance with Oman to attract more tourists from the region.
Hj Mohamed Tali said cooperation between Brunei and Oman can teach the Sultanate on preserving its culture, natural resources and heritage.
Hj Mohamed Tali was part of the Bruneian delegation to Oman led by Minister of Industry and Primary Resources Pehin Orang Kaya Seri Utama Dato Seri Setia Hj Yahya Begawan Mudim Dato Paduka Hj Bakar.
“It was a brief discussion and we talked about the possible cooperation and on what areas we would like to learn from their side and what they are doing for 2010,” Hj Mohamed Tali said.
The interesting parts for what Brunei can take from Oman are mainly on how they are focused strongly on culture, nature and heritage.
“Their main market are the neighbouring United Arab Emirates countries, United Kingdom and Germany. Oman has an organised infrastructure which is clean with beautiful sceneries … It’s good for families who like to go on holiday, resorts and to learn about a country’s heritage,” he said.
News of Oman and Brunei exploring areas of cooperation in tourism was first reported by the Oman News Agency (ONA) earlier this month.
Omani Tourism Minister Dr Rajha Abdulameer bin Ali met Pehin Dato Hj Yahya to review means of establishing new infrastructure and encouraging foreign investment in Oman.
Dr Rajha briefed the Brunei delegation on the tourism development strategy pursued by Oman, including the promotion of domestic tourism ventures, ONA reported.
Pehin Dato Hj Yahya Hj Bakar told ONA that Brunei aimed to enhance tourism cooperation and exchange expertise and tourist groups with the Middle-East Sultanate.
Besides the Dubai expo, Brunei Tourism will be attending Shanghai’s World 2010 Expo where it will bring along travel agents catering to China, hotels and Royal Brunei Airlines, said Hj Mohamed Tali.
Brunei Tourism Board Chief Executive Sheikh Jamaluddin Sheikh Mohamed during a previous interview said that the Brunei Tourism booth will showcase Brunei’s ecotourism and places of interest.
Brunei’s tourism industry is looking up in 2010 after the Asean Tourism Forum kicked off in January followed by an increase of tourists from China, Taiwan and Vietnam in February. - The Brunei Times
Thursday, February 25, 2010 | Labels: tourism | 0 Comments
Spurring Brunei’s Islamic finance industry
THE aftermath of the global economic crisis has left its mark on financial institutions all over the world.
Dr Mohamed Sharif Bashir, Sultan Sharif Ali Islamic University’s dean of Faculty Business and Management Science, however, said that Islamic banks, had been able to minimise the damages due to their strong fundamentals.
Dr Mohamed shares with The Brunei Times his views on Islamic banking and what it takes to further develop Brunei’s Islamic finance industry.
BT: Can you tell us a little about the current scenario for Islamic banking and finance?
Dr Mohamed: Islamic banking and finance is now a proper industry. It has witnessed rapid growth in the last two decades and there are now over 270 Islamic banks worldwide with an approximate total market capitalisation in excess of US$13 billion ($18.3 billion Brunei).
Why is there such rapid growth in this industry?
The main reason why there is such growth is because of the strong fundamentals and basis of Islamic banking. We see this during the recent financial economic crisis where Islamic banks were not affected as much as conventional commercial banks. This is due to the approach adopted by Islamic banks to minimise risks which helps us avoid problems such as non-performing loans and bankruptcy.
What are the main differences between conventional commercial banks and Islamic banks?
Conceptually, Islamic banks are not money-lending institutes but they work as a trading and investment house while modern conventional banking institutions are money-lending entities. Islamic banks work under the socio-religious guidelines that prohibit charging and paying interest and guide them to be ethical in their decision making, but in the conventional banks, banking interest is the back-bone of conventional banking system. Being a trading concern, Islamic banks need to actively participate in trade and production process and activities and it requires governing framework in terms of Syariah Supervisory Board which approves the transactions in the light of the syariah (Islamic law) rulings. Generally, conventional banks do not involve themselves in trade and business as they act only as a money lender.
If Islamic banks are not loan- and interest-based, what are they based on?
Islamic banks recognise loan as a product but exclude it from the domain of commercial transaction, while almost all the financing and deposit side products in a conventional bank are loan based. Islamic banking products are usually asset-backed and involve trading of assets, renting of asset and participation on profit and loss basis, while conventional banks treat money as a commodity and take interest as its compensation. Implementation of Islamic banking products is not a mere change of paperwork and terms but it involves having the right intention, the correct sequence of steps and timing of execution to fulfil a legitimate need steps that are not focused in the conventional banking world.
What about the concept of profit sharing?
Yes, Islamic banks also use the concept of profit sharing as a tool or media to attract people to do business. The concept of profit sharing is the idea of equity-based financed. The partnership between the entrepreneur and the capital will be based on the hindsight provided capital and finance. The customer or entrepreneur will be responsible for the management of the business and provide either professional, managerial or technical expertise for managing and operating the business. The profit will then be shared according to a pre-agreed ratio and the client will be liable to bear losses if such losses are an outcome of his managerial report.
What are your thoughts on Islamic banking in Brunei?
I think Islamic banks in Brunei are doing well but they have to upgrade their employment skills and come out with new products that are not only relevant but also a necessity to meet the needs of clients while still being syariah-compliant. I am not saying that it is outdated but some aspects of operation have to be improved.
Can you give some examples for improvements?
Most of the Islamic banks all over the world are very efficient at attracting people to deposit but they are unable to utilise and make use of this wealth. We need to introduce more innovative products and ways to make use of this money. It is not a matter of getting to do business but how to mobilise this wealth to achieve the development of the community while improving the life of clients. - The Brunei Times
Read more..Dr Mohamed Sharif Bashir, Sultan Sharif Ali Islamic University’s dean of Faculty Business and Management Science, however, said that Islamic banks, had been able to minimise the damages due to their strong fundamentals.
Dr Mohamed shares with The Brunei Times his views on Islamic banking and what it takes to further develop Brunei’s Islamic finance industry.
BT: Can you tell us a little about the current scenario for Islamic banking and finance?
Dr Mohamed: Islamic banking and finance is now a proper industry. It has witnessed rapid growth in the last two decades and there are now over 270 Islamic banks worldwide with an approximate total market capitalisation in excess of US$13 billion ($18.3 billion Brunei).
Why is there such rapid growth in this industry?
The main reason why there is such growth is because of the strong fundamentals and basis of Islamic banking. We see this during the recent financial economic crisis where Islamic banks were not affected as much as conventional commercial banks. This is due to the approach adopted by Islamic banks to minimise risks which helps us avoid problems such as non-performing loans and bankruptcy.
What are the main differences between conventional commercial banks and Islamic banks?
Conceptually, Islamic banks are not money-lending institutes but they work as a trading and investment house while modern conventional banking institutions are money-lending entities. Islamic banks work under the socio-religious guidelines that prohibit charging and paying interest and guide them to be ethical in their decision making, but in the conventional banks, banking interest is the back-bone of conventional banking system. Being a trading concern, Islamic banks need to actively participate in trade and production process and activities and it requires governing framework in terms of Syariah Supervisory Board which approves the transactions in the light of the syariah (Islamic law) rulings. Generally, conventional banks do not involve themselves in trade and business as they act only as a money lender.
If Islamic banks are not loan- and interest-based, what are they based on?
Islamic banks recognise loan as a product but exclude it from the domain of commercial transaction, while almost all the financing and deposit side products in a conventional bank are loan based. Islamic banking products are usually asset-backed and involve trading of assets, renting of asset and participation on profit and loss basis, while conventional banks treat money as a commodity and take interest as its compensation. Implementation of Islamic banking products is not a mere change of paperwork and terms but it involves having the right intention, the correct sequence of steps and timing of execution to fulfil a legitimate need steps that are not focused in the conventional banking world.
What about the concept of profit sharing?
Yes, Islamic banks also use the concept of profit sharing as a tool or media to attract people to do business. The concept of profit sharing is the idea of equity-based financed. The partnership between the entrepreneur and the capital will be based on the hindsight provided capital and finance. The customer or entrepreneur will be responsible for the management of the business and provide either professional, managerial or technical expertise for managing and operating the business. The profit will then be shared according to a pre-agreed ratio and the client will be liable to bear losses if such losses are an outcome of his managerial report.
What are your thoughts on Islamic banking in Brunei?
I think Islamic banks in Brunei are doing well but they have to upgrade their employment skills and come out with new products that are not only relevant but also a necessity to meet the needs of clients while still being syariah-compliant. I am not saying that it is outdated but some aspects of operation have to be improved.
Can you give some examples for improvements?
Most of the Islamic banks all over the world are very efficient at attracting people to deposit but they are unable to utilise and make use of this wealth. We need to introduce more innovative products and ways to make use of this money. It is not a matter of getting to do business but how to mobilise this wealth to achieve the development of the community while improving the life of clients. - The Brunei Times
Thursday, February 25, 2010 | Labels: banking and finance | 0 Comments
BEDB Country's Leading Economic Development Agency
OVER the past 80 years Brunei Darussalam has made great strides in the development of its economy. As stated by the Acting Chairman of BEDB, Dato Paduka Timothy Ong during a recent briefing, Brunei has experienced two economic waves, namely, the discovery of oil in Seria in 1929 and the establishment of BLNG in 1972.
Brunei will be experiencing the beginning of its third economic wave in April this year, when the newly completed Brunei Methanol Company (BMC) begins its production and export of Methanol.
The Brunei Economic Development Board (BEDB) is a statutory board established by His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam in November 2001 to be the leading economic development agency for Brunei Darussalam.
BEDB's mission is to contribute to Brunei Darussalam's success as a land of opportunity for its people and all investors. They undertake this mission by focussing on new industries and economic activities that bring to the country new knowledge, new markets, and new employment opportunities for the people of Brunei Darussalam.
BEDB will focus on business clusters where Brunei Darussalam has competitive advantage and always strives to work in partnership with foreign investors, government agencies and local stakeholders.
Among the developments for BEDB in the year 2010 is the opening of the new Knowledge Hub in Anggerek Desa scheduled in the middle of this year. The seven-storey Knowledge Hub is the second phase of the technology park the BEDB is developing around the iCentre at Anggerek Desa. Its purpose is to be a centre for technology based research and development in Brunei.
Among the plans being considered for the Knowledge Hub are a modelling centre by the Ministry of Defence, a simulation laboratory for energy research by Universiti Brunei Darussalam and an academy for training professionals for the information and communications technology (ICT) industry by TelBru.
It is Brunei's first ‘Green' concept building with part of its energy requirements met by solar power generation and incorporating energy saving technologies such as motion sensors for lighting and energy saving elevators.
Construction work at the Brunei Methanol Company situated in Sungai Liang Industrial Park (SPARK) has been completed and it will be fully operational in April with its first exports of methanol going to Japan and China.
The USD450 million Methanol plant developed by the Brunei Methanol Company Sdn Bhd is a joint venture between Petroleum Brunei and two leading Japanese companies, Mitsubishi Gas Chemical Company Inc and Itochu Corporation.
Besides methanol, the BEDB is also looking at a number of proposals from foreign investors for other petrochemical projects in SPARK. BEDB will also be establishing the first guidelines for `halal' medical and health products in the region with the setting up of a Canadian Pharmaceutical company's facilities in the Lambak Kanan industrial area scheduled for sometime this year.
Viva, the pharmaceutical company from Canada is in partnership with a Brunei entity and intends to manufacture and supply `halal' certified medicines, vitamins and nutritional supplements in the region.
The US$12 million proposed investment would create close to 100 jobs. The Brunei government's commitment to establish these guidelines has become the key factor for the Canadian company to invest here.
The guidelines were endorsed by the Brunei Islamic Religious Council (MUIB) and will act as a reference document incorporating standards and procedures on `halal' pharmaceutical manufacturing in Brunei.
At Pulau Muara Besar (PMB) situated in Brunei Bay, the BEDB will begin work on an integrated development comprising a container port, export processing zone and manufacturing hub. The BEDB is reviewing a number of investment proposals for PMB including proposals to develop an Integrated Oil Refinery and an Aluminium Smelter at PMB.
Pulau Muara Besar (PMB) is an island strategically located in Brunei Bay next to Muara, Brunei's principal port, making it an ideal site for a deep-sea container port. Seeing the opportunity to meet the growing transportation needs of the country and the region, His Majesty's government reserved a 955-hectare site on PMB in 2003.
The potential extends much further, such as a manufacturing complex for major industries including an aluminium smelter and an export processing zone for halal food. - Borneo Bulletin
Read more..Brunei will be experiencing the beginning of its third economic wave in April this year, when the newly completed Brunei Methanol Company (BMC) begins its production and export of Methanol.
The Brunei Economic Development Board (BEDB) is a statutory board established by His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam in November 2001 to be the leading economic development agency for Brunei Darussalam.
BEDB's mission is to contribute to Brunei Darussalam's success as a land of opportunity for its people and all investors. They undertake this mission by focussing on new industries and economic activities that bring to the country new knowledge, new markets, and new employment opportunities for the people of Brunei Darussalam.
BEDB will focus on business clusters where Brunei Darussalam has competitive advantage and always strives to work in partnership with foreign investors, government agencies and local stakeholders.
Among the developments for BEDB in the year 2010 is the opening of the new Knowledge Hub in Anggerek Desa scheduled in the middle of this year. The seven-storey Knowledge Hub is the second phase of the technology park the BEDB is developing around the iCentre at Anggerek Desa. Its purpose is to be a centre for technology based research and development in Brunei.
Among the plans being considered for the Knowledge Hub are a modelling centre by the Ministry of Defence, a simulation laboratory for energy research by Universiti Brunei Darussalam and an academy for training professionals for the information and communications technology (ICT) industry by TelBru.
It is Brunei's first ‘Green' concept building with part of its energy requirements met by solar power generation and incorporating energy saving technologies such as motion sensors for lighting and energy saving elevators.
Construction work at the Brunei Methanol Company situated in Sungai Liang Industrial Park (SPARK) has been completed and it will be fully operational in April with its first exports of methanol going to Japan and China.
The USD450 million Methanol plant developed by the Brunei Methanol Company Sdn Bhd is a joint venture between Petroleum Brunei and two leading Japanese companies, Mitsubishi Gas Chemical Company Inc and Itochu Corporation.
Besides methanol, the BEDB is also looking at a number of proposals from foreign investors for other petrochemical projects in SPARK. BEDB will also be establishing the first guidelines for `halal' medical and health products in the region with the setting up of a Canadian Pharmaceutical company's facilities in the Lambak Kanan industrial area scheduled for sometime this year.
Viva, the pharmaceutical company from Canada is in partnership with a Brunei entity and intends to manufacture and supply `halal' certified medicines, vitamins and nutritional supplements in the region.
The US$12 million proposed investment would create close to 100 jobs. The Brunei government's commitment to establish these guidelines has become the key factor for the Canadian company to invest here.
The guidelines were endorsed by the Brunei Islamic Religious Council (MUIB) and will act as a reference document incorporating standards and procedures on `halal' pharmaceutical manufacturing in Brunei.
At Pulau Muara Besar (PMB) situated in Brunei Bay, the BEDB will begin work on an integrated development comprising a container port, export processing zone and manufacturing hub. The BEDB is reviewing a number of investment proposals for PMB including proposals to develop an Integrated Oil Refinery and an Aluminium Smelter at PMB.
Pulau Muara Besar (PMB) is an island strategically located in Brunei Bay next to Muara, Brunei's principal port, making it an ideal site for a deep-sea container port. Seeing the opportunity to meet the growing transportation needs of the country and the region, His Majesty's government reserved a 955-hectare site on PMB in 2003.
The potential extends much further, such as a manufacturing complex for major industries including an aluminium smelter and an export processing zone for halal food. - Borneo Bulletin
Thursday, February 25, 2010 | Labels: government and economy | 0 Comments
Steady Development In Belait, Tutong, Temburong
FOR the past 26 years, several areas in Belait, Tutong and Temburong Districts have been earmarked for development in hopes of accelerated national growth. The development of Sungai Liang Industrial Park (SPARK) on a 271-hectare site in Sungai Liang puts Belait District in the forefront of economic diversification outside the oil and gas industry.
The world class petrochemical hub is expected to draw an estimated US$1.3 billion in investment and create up to 1,065 permanent jobs. A total budget of over B$50 million-plus is allocated under the National Development Plan to see projects materialise under the Public Works Department (PWD) to improve the standard of infrastructure in the Belait District.
Among the ongoing projects in the district are the Seria flood mitigation project, the repair and reconstruction works of drainage channels in Kuala Belait; boosting the standard of Kampong Pandan and Seria sewage treatment plant and also Kampong Pandan, Mumong and Lumut sewerage scheme projects.
Meanwhile, PWD plans to supply and install new raw water pumps in Badas Seria; refurbishment of Seria water treatment plant; repair and also construction of a new water tank along Jalan Singa Menteri KB and installation of new water pumps to ensure smooth delivery of water supply around the district.
The operation of the $95 million Sungai Liang water treatment plant since July last year has helped improve access to clean water for residents in Belait District with supply of 13 million litres of clean water per day to Lumut, 18 million litres to Sungai Liang and five million litres to Labi.
The water treatment plant, built under the Eighth National Development Plan, will also be able to supply clean water to the Tutong District, Seria and Kuala Belait in any emergencies. Work will also commence soon for the construction of a major dual-carriage highway that is expected to ease traffic flow between the capital and the Belait District.
The project overseen by BEDB will involve the construction of 18.6km of highway which includes introducing five bridges from Telisai to Lumut. The highway is expected to be completed within three years from the commencement of construction.
The district is further anticipating the completion of several projects under the local municipality to accommodate local services such as the $3.4 million convention centre and the $4.1 million Kuala Belait wet and dry market this year.
The construction of a $15 million Seria community hall, where a 24-lane bowling alley will be built, is expected to be completed by July this year.
The district with the largest lake, Tutong, prides itself for rapid agriculture and aquaculture development. To attract local SMEs and foreign investment, the Ministry of Industry and Primary Resources has prepared infrastructure for developing aquaculture in Tutong so it can be a major producer of cultured shrimps and high value marine finfish.
It includes the building of the $8 million sea water pump station that will supply seawater to the Shrimp Culture Industrial Site in Telisai Phase II at Kg Penyatang, Telisai. Completed at the site are roads, electrical supply, sea water system and fresh water supply. Some 200 hectares will be developed for the culture of big-sized black tiger shrimps using the closed system, raceway technology.
The construction of Eco Auuaculture Park at Sungai Paku in Mukim Telisai will focus on high value marine fish fin using the latest culture technology such as the `Ecological Recirculating Aquaculture System' or ERAS. The fish can be marketed to the international live fish markets in China, Taiwan and Hong Kong. Production from the park is estimated at 4,950 metric tonnes annually on a sustainable basis and the park is scheduled to be completed by October this year.
Research and Development Site of the Department of Fisheries is also built on a 10-hectare lot near the coast at Sg Paku, Telisai. The R&D facilities aim to do verification works on the latest shrimp culture system and technology to increase the quantity and quality of the produce.
The Ministry of Industry and Primary Resources estimates that the local aquaculture sectors in the fisheries industry can contribute up to $200 million for Brunei Darussalam. Tutong District will all see a four-year mega project with the construction of the Ulu Tutong dam to coordinate the water resources in Brunei especially during the dry season.
The dam will provide sufficient water resources for Brunei-Muara-Tutong to meet the projected water demands up to 2025. To have balanced development for Tutong, it strives to achieve urban infrastructure that provides residential and social security, commercial and industrial opportunities, rapid connection with other districts, and supported by responsive institutional facilities.
Renowned for its lush greenery, flora and fauna, Temburong has huge potential as an attractive destination for eco-tourism as well as centre for research. The district has also been included in the National Development Plan where many development projects have been allocated.
Among the list of projects in line include the UBD Field Study Centre, phase II of the Ulu Temburong National Park development, renovation of Outward Bound Brunei Darussalam (OBBD) Logistics and Operation Centre Phase I and II and replacement and improvement of water supply to OBBD Belalong.
Renovations of the over $1.929 million UBD Field Study Centre was completed on June 12, 2008. The phase II of the $8.657 million Ulu Temburong National Park development is expected to be completed in April this year.
Supporting the promotion of tourism in the country, the Ulu Ulu National Park resort is currently the top destination in Temburong for holiday seekers and it recently bagged the Asean Green Hotel Award presented at the Asean Tourism Forum (ATF).
And to provide easy access to and from the popular destination for tourists and better access for local villages in Temburong District, a new passenger jetty in the capital of Bangar was recently opened at a cost of B$1.4 million. "A project by the Ports Department, the jetty can easily accommodate 200 passengers at one time and is aimed at providing better facilities in terms of safety and comfort.
The rapid yet balanced development of Temburong District is the result of fair and wise planning and management with proper consideration of the interests of the people. These are the very foundations laid by the wise leadership of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam. - Borneo Bulletin
Read more..The world class petrochemical hub is expected to draw an estimated US$1.3 billion in investment and create up to 1,065 permanent jobs. A total budget of over B$50 million-plus is allocated under the National Development Plan to see projects materialise under the Public Works Department (PWD) to improve the standard of infrastructure in the Belait District.
Among the ongoing projects in the district are the Seria flood mitigation project, the repair and reconstruction works of drainage channels in Kuala Belait; boosting the standard of Kampong Pandan and Seria sewage treatment plant and also Kampong Pandan, Mumong and Lumut sewerage scheme projects.
Meanwhile, PWD plans to supply and install new raw water pumps in Badas Seria; refurbishment of Seria water treatment plant; repair and also construction of a new water tank along Jalan Singa Menteri KB and installation of new water pumps to ensure smooth delivery of water supply around the district.
The operation of the $95 million Sungai Liang water treatment plant since July last year has helped improve access to clean water for residents in Belait District with supply of 13 million litres of clean water per day to Lumut, 18 million litres to Sungai Liang and five million litres to Labi.
The water treatment plant, built under the Eighth National Development Plan, will also be able to supply clean water to the Tutong District, Seria and Kuala Belait in any emergencies. Work will also commence soon for the construction of a major dual-carriage highway that is expected to ease traffic flow between the capital and the Belait District.
The project overseen by BEDB will involve the construction of 18.6km of highway which includes introducing five bridges from Telisai to Lumut. The highway is expected to be completed within three years from the commencement of construction.
The district is further anticipating the completion of several projects under the local municipality to accommodate local services such as the $3.4 million convention centre and the $4.1 million Kuala Belait wet and dry market this year.
The construction of a $15 million Seria community hall, where a 24-lane bowling alley will be built, is expected to be completed by July this year.
The district with the largest lake, Tutong, prides itself for rapid agriculture and aquaculture development. To attract local SMEs and foreign investment, the Ministry of Industry and Primary Resources has prepared infrastructure for developing aquaculture in Tutong so it can be a major producer of cultured shrimps and high value marine finfish.
It includes the building of the $8 million sea water pump station that will supply seawater to the Shrimp Culture Industrial Site in Telisai Phase II at Kg Penyatang, Telisai. Completed at the site are roads, electrical supply, sea water system and fresh water supply. Some 200 hectares will be developed for the culture of big-sized black tiger shrimps using the closed system, raceway technology.
The construction of Eco Auuaculture Park at Sungai Paku in Mukim Telisai will focus on high value marine fish fin using the latest culture technology such as the `Ecological Recirculating Aquaculture System' or ERAS. The fish can be marketed to the international live fish markets in China, Taiwan and Hong Kong. Production from the park is estimated at 4,950 metric tonnes annually on a sustainable basis and the park is scheduled to be completed by October this year.
Research and Development Site of the Department of Fisheries is also built on a 10-hectare lot near the coast at Sg Paku, Telisai. The R&D facilities aim to do verification works on the latest shrimp culture system and technology to increase the quantity and quality of the produce.
The Ministry of Industry and Primary Resources estimates that the local aquaculture sectors in the fisheries industry can contribute up to $200 million for Brunei Darussalam. Tutong District will all see a four-year mega project with the construction of the Ulu Tutong dam to coordinate the water resources in Brunei especially during the dry season.
The dam will provide sufficient water resources for Brunei-Muara-Tutong to meet the projected water demands up to 2025. To have balanced development for Tutong, it strives to achieve urban infrastructure that provides residential and social security, commercial and industrial opportunities, rapid connection with other districts, and supported by responsive institutional facilities.
Renowned for its lush greenery, flora and fauna, Temburong has huge potential as an attractive destination for eco-tourism as well as centre for research. The district has also been included in the National Development Plan where many development projects have been allocated.
Among the list of projects in line include the UBD Field Study Centre, phase II of the Ulu Temburong National Park development, renovation of Outward Bound Brunei Darussalam (OBBD) Logistics and Operation Centre Phase I and II and replacement and improvement of water supply to OBBD Belalong.
Renovations of the over $1.929 million UBD Field Study Centre was completed on June 12, 2008. The phase II of the $8.657 million Ulu Temburong National Park development is expected to be completed in April this year.
Supporting the promotion of tourism in the country, the Ulu Ulu National Park resort is currently the top destination in Temburong for holiday seekers and it recently bagged the Asean Green Hotel Award presented at the Asean Tourism Forum (ATF).
And to provide easy access to and from the popular destination for tourists and better access for local villages in Temburong District, a new passenger jetty in the capital of Bangar was recently opened at a cost of B$1.4 million. "A project by the Ports Department, the jetty can easily accommodate 200 passengers at one time and is aimed at providing better facilities in terms of safety and comfort.
The rapid yet balanced development of Temburong District is the result of fair and wise planning and management with proper consideration of the interests of the people. These are the very foundations laid by the wise leadership of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam. - Borneo Bulletin
Thursday, February 25, 2010 | Labels: development and environment | 0 Comments
`Eco-Tourism' Draws Visitors To Sultanate
THE Asean Tourism Forum (ATF), a cooperative regional effort to promote the Association of Southeast Asian Nations (Asean) as a ‘one tourist destination', took place in Brunei in January 2010, and saw the involvement of the entire tourism industry from the 10 member nations of Asean: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
The hosting of ATF is rotated among the member countries, and ATF 2010 marked the 29th anniversary of the event since its inauguration in Malaysia in 1981. When Brunei hosted ATF 2010, the country welcomed over 1,600 delegates, including 400 international buyers and 100 international media.
ATF 2010 was themed "Green Tourism", a term that is broadly used to encompass all forms of tourism that relates to the natural environment and cultural heritage of an area. According to the www.atfbrunei.com website, Green Tourism has been identified as "one of the fastest growing sectors of tourism globally".
The ATF aims to project Asean as an attractive, multi-faceted single destination - to create and increase awareness ofAsean as a highly competitive regional tourist destination in the Asia Pacific, to attract more tourists to individual Asean member countries or a combination of them, to promote intra-Asean travel and strengthen cooperation among the various sectors of the Asean tourism industry.
According to the website, Brunei Darussalam, The Abode of Peace, is a land steeped in culture and traditions. Well-known for its multi-faceted beauty, the country is a rainforest-covered gem nestled on the northern shores of Borneo that offers a richly diverse natural and cultural heritage to visitors who appreciate a fusion of majestic opulence, traditional respect, rustic charm with unparalleled natural beauty.
The commercial, economic and government centre of the Islamic nation, the capital city of Bandar Seri Begawan, is also the heart of the country's cultural landscape and home to the nation's most revered landmarks.
The breathtaking Sultan OmarAli Saifuddien Mosque as well as The Jame Asr Hassanil Bolkiah Mosque, the largest mosque in Brunei dominates the cityscape, while IstanaNurul Iman, the lavish residence of the nation's revered monarch, His Majesty the Sultan, forms a striking backdrop.
In contrast, for a truly Bruneian experience, tourists can always visit popular locales like the famed night markets as well as the 'Kampong Ayer' water village, which offers a glimpse of the nation's quaint Asian charm that has prevailed for centuries.
The more popular night markets can be found in Bandar and Gadong, selling a wide variety of truly Bruneian cuisines and this is definitely a night stop that many should choose not to miss.
The water village, also referred to as the `Venice of the East', comprises houses that stand on wooden columns and stilts and can easily be viewed either from the windows of the RMS Portview - a popular seafood restaurant or by watertaxis driven by locals up and down the river, whom will gladly offer visitors the opportunity to walk around the water village by ferrying them in that direction. Brunei's most distinctive advantage is that all its attractions are within easy reach of the contemporary luxuries of its capital city.
Nature lovers will be thoroughly spoiled by Brunei's dazzling array of eco-tourism options: pristine rainforests painstakingly preserved by the government, unspoiled coral reefs, mangrove covered islands, extensive beaches and accessible nature reserves, to name a few.
Visitors can explore this untouched natural paradise in a walk at the Temburong National Park, which houses one of the world's richest and most diverse ecosystems, a stroll along beautiful lakeside walkways of Tasek Merimbun in Tutong, a longboat ride down a winding jungle river surrounded by lush rainforests or relaxing on the lapping shores of Muara beach, basking in its tranquillity.
Other popular destinations for the eco-friendly include locations like the Tasek Lama Recreational Park, Tutong Recreational Park, Sungai Basong Recreation Park, Bukit Shahbandar, Bukit Apoi, the Wasai water-falls and many more.
The Kuala Belalong Field Studies Centre is of particular interest to visiting scholars and academics wishing to carry out research at the permission of the government. Brunei's own academics and students spend a great deal of time strolling along the wooden walkways observing, studying and discovering plants and animals that have never been known to exist.
Furthermore, with Sabah, Sarawak and Kalimantan nearby, nature enthusiasts can spend weeks uncovering Borneo's magnificent gifts from Mother Nature, using Brunei's capital Bandar Seri Begawan as the gateway.
With such a variety of natural, cultural and leisure activities available within easy reach in this small sized Kingdom of Unexpected Treasures, Brunei Darussalam promises wholesome fun and excitement for families, honeymooners or nature buffs. - Borneo Bulletin
Read more..The hosting of ATF is rotated among the member countries, and ATF 2010 marked the 29th anniversary of the event since its inauguration in Malaysia in 1981. When Brunei hosted ATF 2010, the country welcomed over 1,600 delegates, including 400 international buyers and 100 international media.
ATF 2010 was themed "Green Tourism", a term that is broadly used to encompass all forms of tourism that relates to the natural environment and cultural heritage of an area. According to the www.atfbrunei.com website, Green Tourism has been identified as "one of the fastest growing sectors of tourism globally".
The ATF aims to project Asean as an attractive, multi-faceted single destination - to create and increase awareness ofAsean as a highly competitive regional tourist destination in the Asia Pacific, to attract more tourists to individual Asean member countries or a combination of them, to promote intra-Asean travel and strengthen cooperation among the various sectors of the Asean tourism industry.
According to the website, Brunei Darussalam, The Abode of Peace, is a land steeped in culture and traditions. Well-known for its multi-faceted beauty, the country is a rainforest-covered gem nestled on the northern shores of Borneo that offers a richly diverse natural and cultural heritage to visitors who appreciate a fusion of majestic opulence, traditional respect, rustic charm with unparalleled natural beauty.
The commercial, economic and government centre of the Islamic nation, the capital city of Bandar Seri Begawan, is also the heart of the country's cultural landscape and home to the nation's most revered landmarks.
The breathtaking Sultan OmarAli Saifuddien Mosque as well as The Jame Asr Hassanil Bolkiah Mosque, the largest mosque in Brunei dominates the cityscape, while IstanaNurul Iman, the lavish residence of the nation's revered monarch, His Majesty the Sultan, forms a striking backdrop.
In contrast, for a truly Bruneian experience, tourists can always visit popular locales like the famed night markets as well as the 'Kampong Ayer' water village, which offers a glimpse of the nation's quaint Asian charm that has prevailed for centuries.
The more popular night markets can be found in Bandar and Gadong, selling a wide variety of truly Bruneian cuisines and this is definitely a night stop that many should choose not to miss.
The water village, also referred to as the `Venice of the East', comprises houses that stand on wooden columns and stilts and can easily be viewed either from the windows of the RMS Portview - a popular seafood restaurant or by watertaxis driven by locals up and down the river, whom will gladly offer visitors the opportunity to walk around the water village by ferrying them in that direction. Brunei's most distinctive advantage is that all its attractions are within easy reach of the contemporary luxuries of its capital city.
Nature lovers will be thoroughly spoiled by Brunei's dazzling array of eco-tourism options: pristine rainforests painstakingly preserved by the government, unspoiled coral reefs, mangrove covered islands, extensive beaches and accessible nature reserves, to name a few.
Visitors can explore this untouched natural paradise in a walk at the Temburong National Park, which houses one of the world's richest and most diverse ecosystems, a stroll along beautiful lakeside walkways of Tasek Merimbun in Tutong, a longboat ride down a winding jungle river surrounded by lush rainforests or relaxing on the lapping shores of Muara beach, basking in its tranquillity.
Other popular destinations for the eco-friendly include locations like the Tasek Lama Recreational Park, Tutong Recreational Park, Sungai Basong Recreation Park, Bukit Shahbandar, Bukit Apoi, the Wasai water-falls and many more.
The Kuala Belalong Field Studies Centre is of particular interest to visiting scholars and academics wishing to carry out research at the permission of the government. Brunei's own academics and students spend a great deal of time strolling along the wooden walkways observing, studying and discovering plants and animals that have never been known to exist.
Furthermore, with Sabah, Sarawak and Kalimantan nearby, nature enthusiasts can spend weeks uncovering Borneo's magnificent gifts from Mother Nature, using Brunei's capital Bandar Seri Begawan as the gateway.
With such a variety of natural, cultural and leisure activities available within easy reach in this small sized Kingdom of Unexpected Treasures, Brunei Darussalam promises wholesome fun and excitement for families, honeymooners or nature buffs. - Borneo Bulletin
Thursday, February 25, 2010 | Labels: tourism | 0 Comments
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