Rightways

Sunday, December 2, 2018

U.S., China agree trade war ceasefire after Trump, Xi summit

https://youtu.be/Ar5fVQYDTak

https://youtu.be/NoGlD73kh28

BUENOS AIRES (Reuters) - China and the United States agreed to a ceasefire in their bitter trade war on Saturday after high-stakes talks in Argentina between U.S. President Donald Trump and Chinese President Xi Jinping, including no escalated tariffs on Jan. 1.

Trump will leave tariffs on $200 billion worth of Chinese imports at 10 percent at the beginning of the new year, agreeing to not raise them to 25 percent "at this time", the White House said in a statement.

"China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries," it said.

"China has agreed to start purchasing agricultural product from our farmers immediately."

The two leaders also agreed to immediately start talks on structural changes with respect to forced technology transfers, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture, the White House said.

Both countries agreed they will try to have this "transaction" completed within the next 90 days, but if this does not happen then the 10 percent tariffs will be raised to 25 percent, it added.

The Chinese government's top diplomat, State Councillor Wang Yi, said the negotiations were conducted in a "friendly and candid atmosphere".

"The two presidents agreed that the two sides can and must get bilateral relations right," Wang told reporters, adding they agreed to further exchanges at appropriate times.

"Discussion on economic and trade issues was very positive and constructive. The two heads of state reached consensus to halt the mutual increase of new tariffs," Wang said.

"China is willing to increase imports in accordance with the needs of its domestic market and the people's needs, including marketable products from the United States, to gradually ease the imbalance in two-way trade."

"The two sides agreed to mutually open their markets, and as China advances a new round of reforms, the United States' legitimate concerns can be progressively resolved."

The two sides would "step up negotiations" towards full elimination of all additional tariffs, Wang said.

The announcements came after Trump and Xi sat down with their aides for a working dinner at the end of a two-day gathering of world leaders in Buenos Aires, their dispute having unnerved global financial markets and weighed on the world economy.

After the 2-1/2 hour meeting, White House chief economist Larry Kudlow told reporters the talks went "very well," but offered no specifics as he boarded Air Force One headed home to Washington with Trump.

China's goal was to persuade Trump to abandon plans to raise tariffs on $200 billion of Chinese goods to 25 percent in January, from 10 percent at present. Trump had threatened to do that, and possibly add tariffs on $267 billion of imports, if there was no progress in the talks.

With the United States and China clashing over commerce, financial markets will take their lead from the results of the talks, widely seen as the most important meeting of U.S. and Chinese leaders in years.

The encounter came shortly after the Group of 20 industrialized nations backed an overhaul of the World Trade Organization (WTO), which regulates international trade disputes, marking a victory for Trump, a sharp critic of the organisation. Trump told Xi at the start of their meeting he hoped they would achieve "something great" on trade for both countries. He struck a positive note as he sat across from Xi, despite the U.S. president's earlier threats to impose new tariffs on Chinese imports as early as the next year.

He suggested that the "incredible relationship" he and Xi had established would be "the very primary reason" they could make progress on trade.

Xi told Trump that only through cooperation could the United States and China serve the interest of peace and prosperity. Washington and Beijing have also increasingly been at odds over security in the Asia-Pacific region.

At the same time, Trump again raised with Xi his concern about the synthetic opioid fentanyl being sent from China to the United States, urging the Chinese leader to place it in a "restricted category" of drugs that would criminalize it.

The White House said Xi, "in a wonderful humanitarian gesture", had agreed to designate fentanyl a controlled substance.

Xi also said that he was open to approving the previously unapproved Qualcomm-NXP deal should it again be presented to him, the White House added.

"This was an amazing and productive meeting with unlimited possibilities for both the United States and China. It is my great honour to be working with President Xi," Trump said in the statement.

WTO REFORMS

Earlier on Saturday, the leaders of the world's top economies called for WTO reform in their final summit statement.

Officials expressed relief that agreement on the communique was reached after negotiators worked through the night to overcome differences over language on climate change.

The final text recognised trade as an important engine of global growth but made only a passing reference to "the current trade issues" after the U.S. delegation won a battle to keep any mention of protectionism out of the statement.

Trump has long railed against China's trade surplus with the United States, and Washington accuses Beijing of not playing fairly on trade. China calls the United States protectionist and has resisted what it views as attempts to intimidate it.

The two countries are also at odds over China's extensive claims in the South China Sea and U.S. warship movements through the highly sensitive Taiwan Strait.

In addition to tariffs on Chinese goods, Trump has imposed tariffs on steel and aluminum imports into the United States this year. Numerous countries have filed litigation at the WTO to contest the levies.

The United States is unhappy with what it says is the WTO's failure to hold China to account for not opening up its economy as envisioned when China joined the body in 2001. The European Union is also pushing for sweeping changes to how the WTO operates.

G20 delegates said negotiations on the summit statement proceeded more smoothly than at a meeting of Asia-Pacific leaders two weeks ago, where disagreement on protectionism and unfair trading practices prevented a consensus.

European officials said a reference to refugees and migration - a sensitive issue for Trump's administration - was excised to ensure consensus.

On climate change, the United States once again marked its differences with the rest of the G20 by reiterating in the statement its decision to withdraw from the Paris Agreement and its commitment to using all kinds of energy sources.

The other members of the group reaffirmed their commitment to implement the Paris deal and tackle climate change.

International Monetary Fund (IMF) Managing Director Christine Lagarde said high levels of debt accumulated by emerging market nations was a pressing concern.

U.S. officials said a call by G20 leaders for the IMF and World Bank to improve monitoring debt levels was aimed at ensuring that developing economies did not become to heavily indebted to China in return for infrastructure projects.

U.S. officials have warned about China's increasing influence across swaths of the developing world, including Latin America. G20 summit host Argentina is expected to sign a series of deals with China on Sunday during a one-day state visit by Xi.

Apart from trade and climate change, Russia's seizure of Ukrainian vessels drew condemnation from other G20 members, while the presence of Crown Prince Mohammed bin Salman at the summit raised an awkward dilemma for leaders.

Saudi Arabia's de facto ruler arrived amid controversy over the killing of Saudi journalist Jamal Khashoggi, though Saudi officials have said the prince had no prior knowledge of the murder.

The leader of the OPEC heavyweight had a series of bilateral meetings at the summit, including a closely watched encounter with Russian President Vladimir Putin.

(Reporting by Roberta Rampton, Michael Martina, Matt Spetalnick, Maximilian Heath, Scott Squires, Cassandra Garrison, Daniel Flynn and Kylie Maclellan in Buenos Aires; Dave Shepardson and Humeyra Pamuk in Washington, Ben Blanchard in Beijing and John Ruwitch in Shanghai; writing by Matt Spetalnick and Daniel Flynn; editing by Ross Colvin, Alistair Bell, Jonathan Oatis and Will Dunham)

Related:

Trump-Xi Summit Exclusive News | Latest Updates on G20 | scmp.com‎

Peter Navarro, the controversial White House trade policy adviser and a famous China hawk, will not be on the guest list when US President Donald Trump meets his Chinese counterpart Xi Jinping in Buenos Aires on December 1, according to a source with knowledge of the matter.

Trade cease-fire welcomed

Sino-US agreement an important step forward
In talks on Saturday at Buenos Aires in Argentina, Chinese President Xi Jinping and US President Donald Trump reached an important consensus on stabilizing trade relations between China and the US. The two countries will step up negotiations toward elimination of all additional tariffs and address issues of mutual concern.

Trade cease-fire welcomed

BRICS slam protectionism as China-U.S. spat overshadows G20 talks

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https://youtu.be/Lnm7NoilIMQ

Saturday, December 1, 2018

Are you overpaying your property maintenance fee?

A property, no matter how great-looking it is, is only as good as its management and maintenance. It will look clean and polished when it is new but the good news is, it can still look as good even as it ages.

According to the Strata Management Act 2013 (SMA 2013) which came into effect in June 2015, a strata owner or occupier needs to pay a monthly maintenance fee or service charge to the Joint Management Body (JMB) or Management Corporation (MC) which will be used to manage and maintain the common property of the development.

Other than the maintenance fee, strata owners are also required to contribute to the sinking fund which is normally at the rate of 10% of the total amount of charges.

“A sinking fund is a reserve fund collected from the strata owner for future expenditure which is typically less predictable and cost a lot more than the usual maintenance fee. The sinking fund is usually used for large scale repairs such as a painting job or refurbishment of the interiors of common facilities,” says Chur Associates managing director Chris Tan.

However, some owners may feel that the maintenance fee is too much. But how much is too much? How is the fee amount calculated or set? Is there a formula or a guideline?

Formula to derive the share units

Under the SMA 2013 and Strata Titles Act 1985 (STA), a residential or commercial unit is technically known as a parcel and each parcel has a share value that is expressed in whole numbers under the STA.

“Upon the approval of computation and allocation of share units prepared by the licensed land surveyor, the director of Land and Mines will issue the Certificate of Share Unit. To derive the share units in a strata scheme, there is a standard formula under the Fourth Schedule of the Strata Titles Rules 2015,” explains Burgess Rawson Malaysia managing director Wong Kok Soo.

The standard formula for maintenance fee:

Refer to Table A for an example of how the share unit is derived for an apartment parcel.

What does the maintenance fee cover?

The MC chairman of Sri Penaga, one of Bangsar’s oldest condominiums, Khaw Chay Tee shares with EdgeProp.my that one of the biggest components in the operations expenditure of a residential condominium is security, followed by the property management staffing and cleaning.

“Normally these components make up 50% of your service charge. So at the end of the day, it really boils down to how well-managed that property is. If you are able to manage the property well, then you can keep the cost reasonable. There are some condominiums where the MC likes to carry out projects which incur costs, but that is a separate matter. As each condominium differs in its number of facilities and the density of the development, it is not so easy to compare and ask why this condominium in Bangsar is different from that condominium in Bangsar,” says Khaw.

Knight Frank senior executive director Kuruvilla Abraham concurs that the service charge will vary depending on the service level the JMB or MC requires.

“One can find cheaper options for the various services required which no doubt will result in lower service charges. However, don’t expect good service levels. The right thing to do is to get value-for-money services that commensurate with the expected service levels,” he says.

It also depends on the design of the development, he adds.

“The development with a reasonable number of facilities and a greater number of units will generally pay a lower proportion of service charge compared to one with similar facilities but with lower density.”

Furthermore, developments with more facilities such as fountains, gardens or swimming pools would naturally command a higher fee as more maintenance is needed.

When it comes to maintenance, the level of quality is subjective, reminds Chur Associates’ Tan. Hence, questions often arise on whether what they are paying is actually put to good use.

Kuruvilla points out that he has yet to come across a developer that has charged parcel owners more than what they are supposed to pay. (Photo by Knight Frank)

“What is the definition of “clean” to you? For some, clean means I don’t see any rubbish. For others, it means it has to be squeaky clean and sparkling. We cannot even come up with an industrial standard for door size and window size, how do we even budget the cleaning cost then? If I were the cleaning company, how would I charge you if your windows are bigger than others? Do I charge more? Or can I say the unit price is RM2 per window per cleaning [regardless of size]?” Tan questions.

He adds that the priorities of residents in different projects mean the maintenance fee charged for each development would be different.

“Some residents place a lot of emphasis on security, so they would rather [the JMB or MC] spend more money hiring guards from a prestigious company while there may be some who think that [the JMB or MC] should spend the money to clean the swimming pool daily because they use it often,” he explains.

Wong: To derive the share units in a strata scheme, there is a standard formula under the Fourth Schedule of the Strata Titles Rules 2015. (Photos by Low Yen Yeing/EdgeProp.my)

The problem with a low maintenance fee

The Malaysian Institute of Property and Facility Managers (MIPFM) president Sarkunan Subramaniam tells EdgeProp.my that problems often arise when the property developers set a lower-than-normal maintenance fee in the initial period to induce sales.

“During the first two years, the equipment is still under the defects and liability period, so if say, the swimming pool has an issue, you can just call the technician to come over for free. However, when the JMB or MC takes over when the warranty period has passed, cost will start to be incurred,” says Sarkunan.

Under the STA 2013, developers are not supposed to pass on any deficits or liabilities to the JMB and MC.

Chur Associate’s Tan says problems can also crop up later when a developer designs a very over-the-top facility or development but prices the property at a low selling price, hence attracting the wrong user/buyer profile to the project.

Sarkunan: Problems often arise when the property developers set a lower than normal maintenance fee in the initial period to induce sales.

“If I ask you what you want in your development, you will surely say you want everything. But nobody tells you that in order to have everything, moving forward, the monthly contribution will be higher. When the entry point is low, everybody wants to buy but nobody thinks about the maintenance fee in future.

“On many occasions, it is not about who gives the best facility but who is paying for it. Are you going to use it? How often do you go to your condo’s gym or would you rather go to a gym outside? Why? Maybe because you have your own personal trainer or you don’t want to be seen by your neighbour. So are we overdesigning and overproviding?” Tan questions.

In accordance with the Strata Management Act 2013 (Act 757) (SMA), developers shall hand over the maintenance and management of the strata development (common property) to the JMB not later than 12 months of vacant possession or the MC, should the strata titles be issued and transferred to the purchasers, whichever is earlier.

The items developers are required to hand over include the list of assets, fixtures and fittings, as-built plans, operation manuals as well as the audited accounts of the service charges, deposits and sinking fund as prescribed under the SMA via Form 4 (for JMB) and Form 13 (for MC).

The JMB and MC can then decide by votes or by appointing a registered property management company to suggest an amount for the maintenance fee.

“The owner has the right to request to see the accounts during the Annual General Meeting related to expenditure and raise the matter during the meeting,” says Knight Frank’s Kuruvilla.

However, he points out that he has yet to come across a developer that has charged the parcel owners more than what they are supposed to pay. In fact, the chances are higher that due to non-payment, the management account is likely to be in deficit resulting in there being insufficient funds to carry out proper maintenance and management of the development.

The problem with strata living is, everybody wants to have a well-maintained place to live but not everyone is prepared to pay for it.

“This is why the government passed the Strata Management Act 2013 (and Acts before this) so that after one year post development, it will give the parcel purchasers/proprietors the opportunity to manage the property and thereby giving them an understanding by getting first-hand knowledge in what it takes to maintain and manage a development well. Until one is directly involved, one will not be able to appreciate why service charges have to be paid on time to ensure there is sufficient funds to pay for the maintenance and management of the development.”

This story first appeared in the EdgeProp.my pullout on Nov 30, 2018. You can access back issues here..

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Friday, November 30, 2018

Spain welcomed President Xi visit, signed 10 deals worth US$17.6 bln, pledged stronger BRI ties against protectionism, unilateralism

https://youtu.be/T2J-S-NCRv0
https://youtu.be/aJvvvJBzp8U

China, Spain sign 10 deals worth US$17.6 bln

Chinese President Xi Jinping (L) meets with Spanish Prime Minister Pedro Sanchez in Madrid, Spain, Nov. 28, 2018. (Xinhua/Xie Huanchi)

Chinese and Spanish enterprises have signed ten deals worth 17.6 billion U.S. dollars during President Xi Jinping's visit to Spain from November 27 to 29.

These deals cover the areas of finance, telecommunication, environment, machine, vehicle and medicine, hitting a new record of China-Spain trade and economic cooperation, said the spokesperson of China's Ministry of Commerce (MOFCOM).

China and Spain also inked intergovernmental cooperation documents such as a Memorandum of Understanding in the Third Party Market, Avoidance of Double Taxation and the Prevention of Fiscal Evasion and Inspection and Quarantine of Imported Pork Products and so on.

During the visit, China-Spain Business Advisory Council was formally established and the first meeting was successfully held, becoming another platform for deepening bilateral economic and trade relations.

Xi's visit coincides with the 45th anniversary of the establishment of diplomatic ties between the two countries, and the two sides have enjoyed excellent trade relations through all these years.

China is Spain's sixth largest trading partner in the world and the largest trading partner outside the EU. From January to September 2018, the bilateral trade volume hit 25.35 billion U.S. dollars, according to the MOFCOM.

China, Spain pledge stronger BRI ties against protectionism, unilateralism

China and Spain are cooperating in the Belt and Road initiative (BRI), yielding positive outcomes, and will continue to leverage the platform to oppose protectionism and unilateralism, Chinese experts said.

The comments came after a joint statement between the two countries during Chinese President Xi Jinping's three-day visit to Spain.

Zhao Junjie, a research fellow at the Chinese Academy of Social Sciences' Institute of European Studies, told the Global Times on Thursday that Spain has seen opportunities in cooperating with China on BRI.

"Although Spain faces pressure from conservatives who oppose free trade, the two countries' cooperation on BRI will not be interrupted," Zhao said, citing the freight train between China's small commodity hub of Yiwu and Madrid as a typical BRI achievement and an important bridge across Eurasia.

"Trains were not fully loaded when the line was first launched in 2014, but fully-loaded trains now depart every day from China," the research fellow said, while stressing that Spain has a privileged position on the route.

Boosted by the route, Yiwu's imports from Spain surged 8.82 percent year-on-year to 60 million yuan ($8.6 million) in the first 10 months.

China is Spain's largest trading partner outside the EU, while Spain is the sixth-largest trading partner within the bloc for China. Bilateral trade reached $22.37 billion in the first eight months, up 10.6 percent year-on-year, according to the Chinese Ministry of Foreign Affairs.

Ding Chun, director of the Center for European Studies at Fudan University in Shanghai, told the Global Times that among EU members, Spain has shown stronger support for the BRI.

Both sides believe the Belt and Road initiative, as a platform of connectivity, will strengthen economic, trade and investment cooperation in third-party markets.

The two countries also stand ready to build synergy between BRI and related EU strategies, thus offering more mutually beneficial business and investment opportunities to Chinese and Spanish enterprises.

"On Spain's side, such cooperation in the third-party markets such as Africa will alleviate its refugee problem. It would also spark less geopolitical concerns than China-led projects in Europe," Ding said.

China and Spain can cooperate on clean energy, including wind and tide energy, Zhao said, noting that cultural exchanges should also be strengthened through education, tourism and sports.

"Cooperation with Spain's small and medium enterprises should be given greater consideration," Zhao noted.

"There are historical and geographic bases for China and Spain to conduct cooperation on the BRI," Xi said during a meeting with Spanish Prime Minister Pedro Sanchez on Wednesday, the Xinhua News Agency reported.

Sources: Global Times

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Wednesday, November 28, 2018

China's GPS rival BeiDou to go global

https://youtu.be/nG0HyU-Thg4 https://youtu.be/TeI2tNHA9y4 https://www.bloomberg.com/news/videos/2018-11-26/china-s-gps-rival-video

APA model of the BeiDou Navigation System is displayed during the 12th China International Aviation and Aerospace Exhibition in Zhuhai earlier this month.

HONG KONG/BEIJING:China is taking its rivalry with the U.S. to the heavens, spending at least $9 billion to build a celestial navigation system and cut its dependence on the American-owned GPS amid heightening tensions between the two countries.

Location data beamed from GPS satellites are used by smartphones, car navigation systems, the microchip in your dog’s neck and guided missiles -- and all those satellites are controlled by the U.S. Air Force.

That makes the Chinese government uncomfortable, so it’s developing an alternative that a U.S. security analyst calls one of the largest space programs the country has undertaken.

A model of the Beidou navigation system satellite.

Photographer: Imaginechina

“They don’t want to depend on the U.S.’s GPS,’’ said Marshall Kaplan, a professor in the aerospace engineering department at the University of Maryland. “The Chinese don’t want to be subject to something that we can shut off.’

“They don’t want to depend on the U.S.’s GPS,’’ said Marshall Kaplan, a professor in the aerospace engineering department at the University of Maryland. “The Chinese don’t want to be subject to something that we can shut off.’’

The Beidou Navigation System, currently serving China and neighbors, will be accessible worldwide by 2020 as part of President Xi Jinping’s strategy to make his country a global leader in next-generation technologies.

Its implementation reverberates through the corporate world as makers of semiconductors, electric vehicles and airplanes modify products to also connect with Beidou in order to keep doing business in the second-biggest economy.

Assembly of the new constellation is approaching critical mass after the launch of at least 18 satellites this year, including three this month. On Nov. 19, China launched two more Beidou machines, increasing the number in operation to more than 40. China plans to add 11 more by 2020.

A rocket carrying the 24th and 25th Beidou navigation satellites takes off in Xichang in Nov. 2017. Photographer: Wang Yulei/China News Service/VCG via Getty Images

Beidou is one element of China’s ambitious campaign to displace Western dominance in aerospace. A state-owned company is developing planes to replace those from Airbus SE and Boeing Co., and domestic startups are building rockets to challenge the commercial-launch businesses of Elon Musk’s Space Exploration Technologies Corp. and Jeff Bezos’s Blue Origin.

Next month, China is scheduled to launch Chang’e 4, a lunar probe that would be the first spacecraft to the far side of the moon. A Mars probe and rover also are scheduled for liftoff in 2020.

“It is classic space-race sort of stuff,’’ said Andrew Dempster, director of the Australian Centre for Space Engineering Research in Canberra.

China started developing Beidou in the 1990s and will spend an estimated $8.98 billion to $10.6 billion on it by 2020, according to a 2017 analysis by the U.S.-China Economic and Security Review Commission. The system eventually will provide positioning accuracies of 1 meter (3 feet) or less with use of a ground support system.

Chinese space-tracking ship Yuanwang-3 monitor the launch of a rocket carrying a Beidou satellite in Oct. 2018. Photographer: Imaginechina

By comparison, GPS typically provides accuracies of less than 2.2 meters, which can be improved to a few centimeters with augmentation systems, the commission said.

“The Beidou system has become one of the great achievements in China’s 40 years of reform,’’ Xi said in a Nov. 5 letter to a United Nations committee on satellite navigation.

The system, named after the Chinese word for the Big Dipper star pattern, is at the core of an industry that will generate more than 400 billion yuan ($57 billion) of revenue in 2020, according to a forecast by the China Satellite Navigation Office.

Beidou Boom

China has increased the pace of satellite launches for its navigation system

Sources: China Satellite Navigation Office, International GNSS Service

*July satellite part of Phase-II

Beidou also has potential for export as part of China’s “Belt and Road’’ initiative to build political and economic ties through funding of infrastructure projects in other countries, the U.S.-China security commission said.

NavInfo Co., a maker of electronic maps that’s backed by Tencent Holdings Ltd., wants to begin mass producing semiconductors for navigation systems using Beidou in 2020, said Wang Yan, a project director.

Employees prepare a NavInfo car for data collection in Beijing, June 2018.

Photographer: Giulia Marchi/Bloomberg

Beijing-based NavInfo, which supplies Tesla Inc. and Bayerische Motoren Werke AG, expects annual demand of 15 million Beidou-linked chips for autonomous vehicles. In September, NavInfo started providing Beidou-enabled mapping and positioning services for the Singapore government.

“China needs to have its own satellite navigation system from a long-term, strategic perspective,’’ Wang said. “Beidou is the only option.’’

That carries potential implications for the balance of power between the nations, as Beidou’s deployment likely will fuel creation of a supply network for China’s People’s Liberation Army.

“The PLA will additionally have its own domestic ‘industrial chain’ on which to draw for secure components,” the U.S.-China commission said.

Qianxun Spatial Intelligence Inc., a Shanghai-based venture between e-commerce titan Alibaba Group Holding Ltd. and state-owned defense contractor China North Industries Group Corp., provides positioning services for cars, public safety and civil aviation using Beidou and other networks.

To help stay competitive against budding Chinese counterparts, foreign companies are including Beidou compatibility in their products. Qualcomm Inc., the biggest maker of chips used in smartphones, has been supporting Beidou “for a long time,” the San Diego-based company said. Those chip sets also are used in wearables and automobiles.

Most smartphones from global sales leader Samsung Electronics Co. support Beidou in addition to GPS, the Suwon, South Korea-based company said, as do handsets from local rivals Huawei Technologies Co. and Xiaomi Corp., according to state media. Huawei is the nation’s top-selling brand.

China also is the largest auto market, and the government wants all car-navigation systems to be Beidou-compatible within two years. Volkswagen AG -– the market leader in passenger car sales -- is changing the equipment in its vehicles to enable network access, the company said.

“At the moment, Volkswagen Group China does not sell cars with Beidou-enabled equipment, but the next infotainment system generation for cars in the Chinese market will be rolled out in 2020,’’ the Wolfsburg, Germany-based company said. “This system will be ready to receive Beidou information.”

Toyota Motor Corp. is in discussions with companies about Beidou, the Japanese automaker said.

Comac C919 Photographer: Qilai Shen/Bloomberg

In the sky, a regional jet developed by state-owned Commercial Aircraft Corp. of China, or COMAC, last year became the first plane to use Beidou.

Avionics-systems maker Rockwell Collins Inc., a supplier to Airbus, Boeing and COMAC, doesn’t offer products that can access the Chinese satellite network, the company said.

That may have to change. The Chinese government eventually will require airlines flying in the country to add Beidou equipment, Kaplan said.

“They will have to have the Chinese system on board,’’ he said, citing the government’s security concerns. “The Chinese will require airlines to have both systems.’’

Source: Bloomberg — With assistance by Bruce Einhorn, Dong Lyu, Jie Ma, Sam Kim, and Ian King

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Tuesday, November 27, 2018

Politicising education hurts the Chinese

https://youtu.be/1F2l-BKDXGA

As Malaysia tackles a RM1 trillion national debt, it may be wise for Lim Guan Eng to focus on revitalising the economy than to whip up a confrontation with his own community over a RM30mil grant

WHEN Finance Minister Lim Guan Eng, in his Budget 2019 presented early this month, removed the RM30mil matching grant for Tunku Abdul Rahman University College (TAR UC), it hurt not just the MCA but also the Chinese community.

The government will provide a mere RM5.5mil as development fund to TAR UC. The fuming Chinese community is now taking up the issue as TAR UC, along with Universiti Tunku Abdul Rahman (UTAR), another institution of higher learning linked to MCA, has provided affordable education to many Chinese students over the past 50 years.

The removal of the matching grant to TAR UC – an annual amount given by the Barisan Nasional government to the university college previously to match the funds it raised – will negatively impact its continued survival.

Hence, emotive comments against Lim have been dominating the vernacular media since the grant issue emerged.

A petition against the Finance Ministry has also been launched.

Notably, though they are two non-profit institutions set up by MCA – TAR UC in 1969 and UTAR in 2001 – they are now seen as part and parcel of the Chinese community, which has been supporting their operation and expansion with billions in cash donations and land.

The late philanthropist of Penang, Tan Sri Loh Boon Siew, told me in an interview in 1991 that he had contributed land and cash to TAR UC. Other Chinese tycoons, too, have privately shared such information with me.

Together with the matching grants from the government totalling RM1.353bil over the last 50 years, MCA was able to expand the reach of the university college, from Setapak to Penang, Sabah and Pahang.

In the last 17 years, MCA also built UTAR campuses in Sungai Long (Selangor) and Kampar (Perak).

In the five decades since TAR UC started, children from poor Chinese families and other ethnic groups, regardless of political leanings, have benefitted from the education offered by it due to its affordable fees.

In fact, TAR UC and UTAR are two of MCA’s best non-political projects which have contributed tremendously to the Chinese society, to compensate for its past failure to safeguard Chinese rights in the Umno-dominated Barisan regime.

Putting into historical context, TAR UC – which started as TAR College before being upgraded to university college status in 2013 – was a product of political compromise when non-bumiputra student intake into the five public universities then was limited by the introduction of the bumiputra quota. The one-to-one matching grant enabled TAR UC to provide an avenue for higher education for those from the lower-income group as well as performing students denied entry into public universities by the quota system.

Hence on Sept 15, 1972, Datuk Hussein Onn, the then-Education Minister, handed over the Instrument of Government to the institution.

A 77ha plot in Setapak was allocated for the construction of TAR College’s main campus.

Later, UTAR was set up and officially launched on Aug 13, 2002, by then Prime Minister Datuk Seri Dr Mahathir Mohamad after higher education in the private sector was liberalised.

According to MCA president Datuk Seri Dr Wee Ka Siong, some 200,000 students have graduated from TAR UC/UTAR over the past 50 years.

Currently, the student population in the two institutions totals 28,000. Employees stand at 1,500 (60% Chinese, 40% non-Chinese).

These figures show that not just the Chinese have benefitted from the existence of UTAR and TAR UC but the Malays and Indians as well. Among the Pakatan Harapan leaders who were beneficiaries of the TAR affordable education are Cabinet ministers Teresa Kok, Datuk Salahuddin Ayub and Datuk Seri Saifuddin Nasution Ismail as well as Penang Chief Minister Chow Kon Yeow and exco member Chong Eng.

As these two institutions have become integral to the Chinese community, it is natural that vernacular newspapers are following closely the developments in this issue.

From the writing in the Chinese media, it can be seen that this issue is threatening to become a “Chinese community vs LGE/DAP” confrontation. This may not augur well for Lim.

While there are people who agree with Lim’s argument to separate education from politics, and that MCA must cut its links with these institutions, they form a miserable minority.

In a strongly worded comment piece “Play-killing UTAR”, Sin Chew Daily deputy editor-in-chief Tay Tian Yan points out that in speaking up on the grant issue, it is not meant to support MCA, but to show concern for the future generations of the Chinese community, particularly those from the poorer classes.

In response to Lim’s warning to MCA that the two institutions cannot raise tuition fees, Tay concludes: “UTAR will die an eventual death if it cannot raise fees and is not given a grant. What will be the future of our Chinese youth?”

Generally, Lim is seen as abusing his power to punish his political rivals and in the process undermine the interest of his very own community. Such political gimmicks should be stopped when dealing with taxpayers’ money, given that 80% of the country’s revenue is contributed by Chinese businesses and individuals in the form of taxes.

For many people, it is particularly repugnant when Lim threatened to “take action” against MCA if the institutions raise tuition fees.

In a China Press editorial yesterday, Lim was reminded that last year when he was Penang Chief Minister, he had said education allocations to schools should be given regardless of political backgrounds. And he acted fairly.

“But after LGE became Finance Minister, his statement last year on equality dissipated. Shouldn’t the former Penang CM give a big scolding to the current Finance Minister?” asks the writer mockingly.

The Pakatan government has also been reminded that 95% of Chinese voted them in to oust the previous administration in the May 9 general election. Their support should not be taken for granted and forgotten.

In short, TAR UC and UTAR should not be penalised just because of their parental link with MCA.

Looking at national development, these two institutions have nurtured much talent to serve the country, particularly in the field of accountancy.

File photo of UTAR's Faculty of Business and Finance in Kampar, Perak.

In fact, from my own observations, these institutions are more professionally run than many other private colleges and universities.

For this reason, and for their affordable fees, my husband and I sent our daughter to study in UTAR. She graduated last June.

As the country is confronted with a slowing economy and has to tackle a national debt of over RM1 trillion, it may be wiser for Lim to focus on revitalising the economy and other bigger national issues than to whip up a confrontation with his own community over a RM30mil grant.

By Ho Wah Foon, The Star

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Monday, November 26, 2018

Ministers and leaders who benefited from UTAR & TAR UC, removed matching grants to varsity

https://youtu.be/AiIUc3spw-Y

Varsity grads: Chew says he is disappointed with Lim for removing the matching grants when some leaders like (from left) Kok, Salahuddin and Saifuddin were products of the MCA-linked institutions.

KUALA LUMPUR: MCA has pointed out that several Pakatan Harapan leaders were beneficiaries of MCA-linked institutions of higher learning.

MCA central committee member Datuk Chew Kok Woh named ministers Teresa Kok, Datuk Salahuddin Ayub and Datuk Seri Saifuddin Nasution Ismail as the beneficiaries.

He said even Penang Chief Minister Chow Kon Yeow and state executive councillor Chong Eng were products of Tunku Abdul Rahman University College, then known as KTAR, and now TAR UC.

Chew expressed disappointment that Finance Minister Lim Guan Eng had removed matching grants to TAR UC.

He said although TAR UC and Universiti Tunku Abdul Rahman were set up by MCA, they were never used for political reasons, saying all the graduates could verify TAR UC and UTAR were apolitical.

He said these institutions were professionally run, adding Lim’s decision spoke volumes about his “politics of vindictiveness”.

In fact, he said, the decision was a timely reminder that DAP had done nothing for education except to criticise.

“What has DAP done for Chinese education? Name us one,” he said in a statement.

He said DAP should not punish parents and students by depriving them of affordable education because of political reasons.

Chew feared that Lim’s action would lead to higher tuition fees at these institutions.

He said many parents, who could not afford private colleges and universities, depended on TAR UC and UTAR.

Chew said the two institutions had produced more than 180,000 graduates of high calibre since its inception in 1969, while UTAR has 56,000 graduates since 2005.

“We need to put aside politics to help Malaysians, especially those from the lower-income background,” he said.

Chew said TAR UC and UTAR graduates, including these Pakatan leaders, could vouch that these two institutions were not “MCA indoctrination centres”.

It was recently announced by Lim that the government would only allocate a RM5.5mil development fund for UTAR and TAR UC, instead of a RM30mil matching grant for TAR UC.

Lim insisted that both education institutes break off ties with MCA before the government provides more allocation for the two institutions.

In the Dewan Rakyat, Ayer Hitam MP and MCA president Datuk Seri Dr Wee Ka Siong debated with Lim, stating that the matching grants were vital to help ensure lower student fees for the two institutions.

On Facebook, Dr Wee expressed his disappointment in the Finance Minister’s reply, adding that TAR UC was wholly owned by the TARC Education Foundation and should not be seen as part of MCA’s assets, and that the university college also submitted audited accounts to the Education Ministry every year.

Dr Wee also told reporters in Parliament House that TAR UC might have to increase its fees to cover operational costs.

Founded in February 1969 as KTAR, the institute was upgraded to university college status in May 2013 and renamed TAR UC.- The Star

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