Renault-Nissan-Mitsubishi Alliance open a new chapter for their partnership

London, Paris, Tokyo, Yokohama, Feb 7, 2023 - (JCN Newswire via SEAPRWire.com) - Following approval by the Boards of Directors of Renault Group and Nissan Motor Co., Ltd, Renault-Nissan-Mitsubishi Alliance today announced new initiatives to take their partnership to the next level. A three-dimension program to maximize value creation for all Alliance stakeholders will include:- High-value-creation operational projects in Latin America, India and Europe;- Enhanced strategic agility with new initiatives that partners can join;- A rebalanced Renault Group-Nissan cross-shareholding and reinforced Alliance governance. Renault Group and Nissan have entered into a binding framework agreement regarding the above-mentioned transactions, with a view of reaching definitive agreements by the end of the first quarter of 2023. The transactions contemplated in these definitive agreements would be subject to a limited number of conditions precedent, including regulatory approvals, and completion is expected to occur in the fourth quarter of 2023. This far-reaching program paves the way for a renewal and strengthening of the 24-year partnership, creating a new agile spirit and harnessing the pioneering technologies of all three Alliance members. This next level will create more growth opportunities and help secure operating efficiencies for each Alliance company to innovate and transform in the fast-changing market for automotive products and mobility services. Details of the binding framework agreement will be announced during a joint conference today at 8.30 am GMT in London.High-value-creation operational projectsA year after defining the Alliance roadmap towards 2030, the companies announce consideration of new key projects in Latin America, India and Europe that aim to deliver win-win, large-scale and actionable benefits for the Alliance members along three dimensions: markets, vehicles, and technologies. Each company would benefit from these value-creating projects in the mid-term while realizing short-term benefits from both cost sharing and cost avoidance. Latin AmericaThe four projects to be considered in Latin America include:- A new half-ton pick-up, developed by Renault Group and shared with Nissan in Argentina.- The successful collaboration on the Nissan Frontier/Renault Alaskan family, a one-ton pick-up, would continue. Renault Group would produce the pick‑ups in Cordoba (Argentina) for both Renault and Nissan.- In Mexico, Nissan would produce a new model for Renault Group, making it the first Renault vehicle to be produced there in 20 years.- Additionally, Nissan and Renault Group would commercialize two common accessible A‑segment Electric Vehicles, both based on the CMF-AEV (Common Module Family) platform. India- For India and export, Renault Group and Nissan would collaborate on several new vehicle projects including new SUVs shared by both Renault Group and Nissan, and a New Nissan car derived from the Renault Triber. - Additionally, as in Latin America, Nissan and Renault Group are also considering common A-segment electric vehicles. EuropeThe companies are exploring the following initiatives in Europe:- Renault Group and Mitsubishi Motors would leverage the assets of Renault Captur and Clio to develop 2 new vehicles with the next-gen ASX and Colt based on the CMF-B platform.- Renault Group would launch FlexEVan on the LCV market, as its first Software-Defined Vehicle from 2026 and share it with Nissan in Europe.- For their line-ups beyond 2026, Nissan and Renault Group would also explore possible collaborations on the next generation of C-segment Electric Vehicles. To ensure benchmark charging time, Nissan and Renault Group would continue sharing technologies on their European cars, including potential usage of common 800-volt architecture.- These initiatives would build on existing commitments including plans for the future Nissan compact Electric Vehicle (B-segment), based on CMF-BEV platform, to be produced at Renault Group's ElectriCity facility in France from 2026. Beyond the vehicle: Cooperation in Distribution, Aftersales, Charging Infrastructure and Batteries In Europe, the scope of collaboration would go beyond the vehicles to cover lifecycle from distribution, to usage, to recycling and end-of-life.- Distribution, Aftersales & Sales Financing: Renault Group, Nissan and Mitsubishi Motors are working on shared opportunities within the distribution network to support and increase dealer profitability and reduce their respective costs:>> By increasing the number of shared outlets in key markets.>> By developing common strategies on Used Car, After Sales and Sales Financing, leveraging the strong presence of Mobilize Financial Services in Europe.- Electric vehicle (EV) charging infrastructure: Renault Group and Nissan are considering jointly deploying charging infrastructure in Europe at both Renault Group and Nissan dealerships (charging@dealer).- Circular Economy: Renault Group and Nissan plan to select common battery recycling partners for their end-of-life batteries and production scraps. Enhanced strategic agility with new initiatives that partners can joinIn the second area of enhanced cooperation, all three Alliance companies agreed to explore their existing strategies in electrification and low-emission technologies by investing and collaborating in respective member-company projects that could provide incremental value to each individual business.These agile strategic initiatives are designed to complement the business plans of member companies, including Nissan Ambition 2030 and Renaulution, as each business leverages commonality and investment opportunities to deliver on their respective goals for sustainable growth and targets for decarbonization. The areas of collaboration under consideration include: Nissan's intention is to invest up to 15% in Ampere, Renault Group's EV & Software entity in Europe, with the aim to become a strategic investor. Through this intended investment in Ampere Nissan would enhance and accelerate new business opportunities for Nissan in Europe.Mitsubishi Motors would consider investing in Ampere. Nissan and Mitsubishi Motors would become customers of Renault Group's Horse project, an initiative to achieve further scale and market coverage for its low-emission internal combustion engine (ICE) & hybrid powertrain technologies. These initiatives would complement ongoing areas of technology collaborations such as All Solid-State Battery (ASSB), Software-Defined Vehicle (SDV) and Advanced Driver Assistance Systems (ADAS) & autonomous driving. A rebalanced Renault Group-Nissan cross-shareholding and reinforced Alliance governance As each Alliance member company delivers on its business plans, it was important to put in place a cross-shareholding structure and governance terms aligned to the goals of the next-generation Alliance. Whilst previous Alliance agreements enabled the companies to execute their respective strategies over the last 24 years, a new approach is required to enable the Alliance members to best prepare for future industry opportunities. Renault Group and Nissan, the founding-members of the Alliance, have therefore agreed to rebalancing their cross-shareholding and governance terms to ensure effectiveness and maximize value creation. A binding framework agreement defines the principles of a new governance scheme and the rebalancing of the cross-shareholdings between Renault Group and Nissan. The two companies intend to enter into a new Alliance agreement [by March 31, 2023] and replace the current agreements governing the Alliance (i.e., the Restated Alliance Master Agreement, the Alliance Equity Participation Agreement and the Memorandum of Understanding of March 12, 2019). This new Alliance agreement would be put in place for an initial period of 15 years. Rebalanced cross-shareholdings between Renault Group and Nissan to enable future collaboration- Nissan and Renault Group would retain a 15% cross-shareholding, with a lock-up obligation, as well as a standstill obligation.- Renault Group would transfer 28.4% of Nissan shares into a French trust. The entrusted shares would be voted neutrally, except for:>> the election or dismissal of the directors of Nissan nominated by Renault, (where the trustee would vote as directed by Renault);>> the election or dismissal of directors who are nominated by the Nissan Nomination Committee, other than the Renault Group nominees (where the trustee should vote in favor of the Nissan Nomination Committee decisions and proposals).>> shareholder proposals not supported by the Nissan board of directors (where the trustee should abstain).- Renault Group would continue to fully benefit from the economic rights (dividends and shares' sale proceeds) from the entrusted shares until such shares are sold. The transfer to the trust would trigger no impairment in Renault Group financial statements.- As a result of the transfer of the 28.4% of Nissan shares to the trust, Nissan would be able to exercise its voting rights attached to its shareholding in Renault Group.- The voting rights of Renault Group and Nissan would be capped at 15% of the exercisable voting rights, with both companies able to freely exercise their voting rights within such limit.- Renault Group would instruct the trustee to sell the entrusted Nissan shares if commercially reasonable for Renault Group, but it has no obligation to sell the shares within a specific pre-determined period of time.- Renault Group would have full flexibility to sell the Nissan shares held in the trust, within a coordinated and orderly process with Nissan, in which Nissan would benefit from a right of first offer, to its or the benefit of a designated third party. Voting rights & governance- As a result of the new arrangements, the governance agreement entered into on February 4, 2016, between Renault Group and the French State related to its shareholding in Renault Group would be terminated. This would enable the French State to exercise freely all its voting rights in Renault Group.- Renault Group would remain entitled to nominate two representatives at Nissan's board of directors, and Nissan would remain entitled to nominate two representatives at Renault Group's Board.- The Alliance Operating Board would remain the coordination forum for Renault Group, Nissan and Mitsubishi Motors. Copyright 2023 JCN Newswire. All rights reserved. (via SEAPRWire)

39 arrested for involvement in scams where losses amounted to $20 million

SINGAPORE - 35 men and four women, aged between 16 and 65, have been arrested for suspected involvement in job scams and phishing scams involving Singapore Bicentennial commemorative notes, the police said on Sunday (Nov 28). This was after an islandwide police operation from Nov 22 to 26 that saw a total of 113 individuals investigated for their involvement in over 900 jobs scams and fishing scams that led to more than $20 million in losses. Investigations against the other 74 individuals are ongoing. The police said that victims had allegedly sold their bank accounts or relinquished their Singpass credentials to criminal syndicates. They were promised as much as $5,000 for each bank account sold and/or $400 for each set of Singpass credentials sold. However, most of them did not receive the promised fees. Some were also found to have allegedly rented out their bank accounts to scammers or assisted them in carrying out bank transfers and withdrawals. "We would like to caution job seekers to be wary of job advertisements that promise the convenience of working from home and an unreasonably high salary for relatively easy job responsibilities," said the police. It added that in job scams, victims would chance upon job advertisements offering quick cash on social media platforms and chat applications. The job would require victims to order items from online platforms to improve its sales volume. They would then be made to pay for the items via funds transfer to various bank accounts. At the initial stage, victims would receive a payment on top of a well-paid commission. However, when the scam progressed to a point where victims had spent large sums on their orders, their job contact would become uncontactable. In phishing scams involving Singapore Bicentennial commemorative notes, victims would receive text messages from scammers informing them of their eligibility to receive free Singapore Bicentennial commemorative notes and would be directed to allegedly spoofed URL links. When victims clicked the link, they would be redirected to fraudulent websites resembling the homepage of a purported bank's internet banking website and would then be tricked into providing their internet banking credentials. The police said that victims had allegedly sold their bank accounts or relinquished their Singpass credentials to criminal syndicates. PHOTO: SINGAPORE POLICE FORCE Victims would only realise they had been scammed when they discovered unauthorised transfers of monies out of their bank accounts. "To avoid becoming involved in money laundering activities, members of the public should always reject request of using their personal bank accounts to receive and transfer money for others," said the police. More on this topic   Related Story 296 people nabbed for alleged involvement in over 1,000 scams, victims lost over $6.4m The offence of cheating carries an imprisonment term of up to three years and a fine. Those who are found guilty of money laundering may be jailed up to 10 years and fined up to $500,000, or both. The offence of facilitating unauthorised access to computer material carries an imprisonment term not exceeding two years, a fine, or both for first-time offenders. Those who carry out an unlicensed business of providing payment service may be jailed up to three years and fined up to $125,000, or both. More on this topic   Related Story S'pore and Malaysia police cripple two job scam syndicates that cheated over 390 of $5m

Formula One: Verstappen relishing fierce fight with Hamilton for F1 crown

DOHA (AFP) - Max Verstappen was in bullish mood on Thursday (Nov 18), declaring his heated Formula One title battle with Lewis Hamilton was no "kindergarten" and that he would continue his aggressive approach in this weekend's inaugural Qatar Grand Prix. The 24-year-old championship leader defended so fiercely in last Sunday's Brazilian Grand Prix that he forced the seven-time world champion off the Interlagos track. That incident was under scrutiny as he spoke on Thursday as a stewards' review took place at the Losail International Circuit where the Red Bull and Mercedes teams were again locked in conflict. Verstappen was not surprised, he said, that Mercedes had asked for the review, but made clear he would react in just the same way again as he had on Lap 41 in Sao Paulo to retain the lead. Hamilton eventually found his way past and went on to claim an epic victory that trimmed the Dutchman's lead to 14 points with three races remaining. The incident was not deemed worthy of further action last Sunday, but the release of Verstappen's on-board video persuaded Mercedes that a review was necessary. But Verstappen was not impressed. "If it would have been the other way around in Brazil, it would have exactly played out like that," he said, suggesting that Hamilton can be just as brutal when required. "Yeah, it's hard racing, we are fighting for a championship. We are not here to be in a kindergarten. I thought it was a great battle and I had a lot of fun as well out there. "As a driver, I think we know exactly what we can or cannot do in a car and we were fighting hard, braking late into the corner and the tyres were quite worn. "If I would have turned more abruptly to the left, you'd just spin off the track. At the end of the day, they won the race, fair enough. They were faster than us, but I thought it was a good battle." As Mercedes launched their request for a review, Red Bull continued to grumble about the power of Hamilton's new power unit and the rear wing of his car, which had been deemed irregular in Brazil and led to him losing pole position. More on this topic   Related Story Formula One: Hamilton not wasting energy on Brazil GP flashpoint review   Related Story Formula One: Hamilton and Verstappen take a step into the unknown

Football: Sterling open to leaving Manchester City

MANCHESTER (REUTERS) - Manchester City forward Raheem Sterling would be willing to leave the Premier League club and move abroad, he said on Thursday (Oct 14). The England international, 26, has fallen out of favour with City coach Pep Guardiola this season, starting only two of seven Premier League games. "If there was an opportunity to go somewhere else, I'd be open to it at this moment in time," Sterling said during the FT Business of Sport US Summit. "As an English player, all I know is the Premier League. I've always known that maybe one day, I would love to play abroad and see how I would come up against that challenge." Asked what languages he would like to speak, Sterling said: "I should be learning a few different languages. I quite like the French accent - and Spanish." Sterling, who is under contract with City until 2023, talked of his admiration of Real Madrid last year, before City met Real in a Champions League last-16 tie. Real are expected to attempt to sign Kylian Mbappe next year when the France forward's contract with Paris St Germain runs out after having a reported offer of 160 million euros turned down by the French club this year. Spanish media have reported that Barcelona are interested in Sterling, although a move for the England forward would be hampered by their financial problems, which forced them to part ways with all-time top scorer Lionel Messi in August.

19 arrested for suspected involvement in Ponzi-like job scams

SINGAPORE - The police have arrested 16 men and three women, all aged between 18 and 35, for their suspected involvement in Ponzi-like job scams with fake companies. The Singapore Police Force conducted an islandwide anti-scam enforcement operation on Monday (Oct 11) and Tuesday after receiving several reports of WhatsApp messages, Facebook and Instagram posts as well as online advertisements promoting highly paid part-time jobs related to affiliate marketing. In the scams, victims would be offered fake online jobs involving easy tasks such as following social media accounts and liking posts to boost viewership. They were told that in order to earn a commission, they had to sign up for free membership accounts on websites and mobile applications provided by the scammers. After signing up, they would be offered different membership packages, ranging in price from $10 to a few thousand dollars, with varying amounts of commission paid per task. They would then be told to pay the membership fees via cryptocurrency or bank transfers to unknown individuals before they could start performing the job to earn a commission. In most cases, the victims would be convinced that it was a legitimate job, as they would receive commissions during the early stages of their membership. They would realise that they had been scammed only when they did not receive further commissions or were unable to make withdrawals from their member accounts. Preliminary investigations revealed that the fake companies allegedly ran Ponzi-like schemes where new job seekers' money were used to pay commissions promised to existing job holders. The 19 people arrested are believed to have participated in the scams by opening corporate and personal bank accounts, advertising to recruit potential part-time job seekers, and fraudulently registering and supplying mobile phone lines. Some of them allegedly rented out or sold their bank accounts to the scammers. Police investigations are ongoing. The offence of cheating carries a jail term of up to 10 years and a fine, while the offence of receiving stolen property carries a jail term of up to five years, a fine, or both. Money laundering carries a jail term of up to 10 years, a fine of up to $500,000, or both. Screenshots of mobile applications of bogus companies. PHOTOS: SINGAPORE POLICE FORCE Screenshots of mobile applications of bogus companies. PHOTOS: SINGAPORE POLICE FORCE "The police would like to caution job seekers to be wary of job advertisements that promise the convenience of working from home and being paid a high salary for relatively simple job responsibilities. Legitimate businesses will not require job seekers to utilise their own bank accounts to receive money on the businesses' behalf or to make upfront payments to secure the job offers and earn commissions," the police said in a statement on Wednesday (Oct 13). For more information on scams, the public can visit ScamAlert's website or call the anti-scam hotline at 1800-722-6688. More on this topic   Related Story 71 arrested for conducting job scams, 29 to be charged over money mule activities   Related Story Teacher loses $4,000 to job scam; police arrest 19 for suspected links to similar scams

Foreign interference law is necessary, but so too is good communication

SINGAPORE - In the film Minority Report, actor Tom Cruise plays John Anderton, head of a Washington-based "pre-crime" unit which predicts and prevents future crimes. When Anderton himself is accused of killing a man he has never met, he discovers the system is not foolproof. Filmed in early 2001, Minority Report was eerily prescient. Later that year, America would be under attack, and the risk of not stopping terrorism before it happened seemed too great. A host of new laws was then passed, giving law enforcement broad powers that would later be questioned by segments of the American public. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

Mitsubishi Corporation and Shell Sign MoU to Collaborate on Hydrogen Plans in Alberta

TOKYO, Sep 9, 2021 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Corporation (MC) and Shell Canada Products, by its managing partner, Shell Canada Limited (Shell Canada) have signed a Memorandum of Understanding relating to the production of low-carbon hydrogen through the use of carbon capture and storage (CCS) near Edmonton, Canada. MC aims to build and start-up the low-carbon hydrogen facility near the Shell Energy and Chemicals Park Scotford towards the latter half of this decade, and Shell would provide CO2 storage via the proposed Polaris CCS project. The low-carbon hydrogen, commonly called blue hydrogen, would be produced via a natural gas feedstock and exported mainly to the Japanese market to produce clean energy. "MC is looking into such clean energy opportunities globally," said Hiroki Haba, Senior Vice President, Division COO, Next-Generation Fuels & Petroleum Business Div., MC. "This opportunity in Canada would support Japan's requirements for clean energy." "Shell is leveraging our global leadership in carbon capture and storage to help produce the low-carbon products our customers need to move through an accelerated energy transition," said Mark Pattenden, Senior Vice President of Chemicals and Products Canada. "This opportunity is in line with our vision to create a world-class site to provide customers with lower-carbon fuels, products and carbon storage." The first phase of the project aims to produce approximately 165,000 tons per annum of hydrogen with upside to increase production depending on considerations over future phases. The hydrogen would be converted to low-carbon ammonia for export to Asian market(s). The project would be built near the Edmonton region, which this year was announced as Canada's first hydrogen hub. The location was chosen due to availability of abundant natural gas resources, proven CO2 storage capacity, and shared infrastructure opportunities. By co-locating next to Shell Scotford, both companies will explore potential synergies such as land use and utilities integration. Close communication with stakeholders will be a key principle as the project proceeds in its development. Copyright 2021 JCN Newswire. All rights reserved. (via SEAPRWire)

PSP files motion to debate jobs, foreign workforce policy and Ceca in Parliament

SINGAPORE - The Progress Singapore Party (PSP) has filed a private member's motion in Parliament on issues about jobs and foreign workforce policy, the party's Non-Constituency MP Leong Mun Wai said on Tuesday (Aug 31). In a Facebook post, he said he expects the debate to take place on either the Sept 13 or Sept 14 sitting of Parliament. The motion, which will allow all MPs to take part in the ensuing debate, states: "That this Parliament calls upon the Government to take urgent and concrete action to address the widespread anxiety among Singaporeans on jobs and livelihood caused by the Foreign Talent Policy and the 'movement of natural persons' provisions in some free trade agreements like Ceca." Mr Leong said the main focus of the debate would be on how to improve the jobs and livelihoods of Singaporeans. "Ceca is not our main concern and has been thrust upon us by the Government," he added, referring to the Comprehensive Economic Cooperation Agreement with India. The PSP first announced its intention to debate employment policies and Ceca in June. The following month, Manpower Minister Tan See Leng and Health Minister Ong Ye Kung delivered ministerial statements in Parliament on the importance of free trade pacts and sought to debunk falsehoods on Ceca. They also emphasised that changes in foreign workforce numbers over time are to be expected, alongside transformations in policies and industry needs. In an exchange with Mr Ong in the House, Mr Leong said the PSP did not agree that Ceca was "net beneficial" to Singapore at this stage, and that it remains to be studied whether the pact has contributed to an influx of foreign nationals from India. During his National Day Rally on Sunday (Aug 29), Prime Minister Lee Hsien Loong said the "campaign against Ceca" claimed to be about putting Singaporeans first but had strong racial undertones. He also said the Government would continue to tighten the criteria for Employment Pass and S Pass holders over time by raising salary cut-offs, and introduce anti-discrimination laws, including by creating a tribunal to deal with workplace discrimination. On Tuesday, Mr Leong said PM Lee had addressed anxieties over foreign work pass holders in his speech but "did not announce new concrete policies that would resolve the problem fundamentally". "The other policies announced in recent days by the Government also did not show its full appreciation of the severity of the problems faced by Singaporean workers," he added. Mr Leong also said the PSP would be entering the debate with incomplete information, which he attributed to the Government not answering most of the 23 parliamentary questions filed by the party. "However, the overwhelming feedback from thousands of Singaporeans has given us a good picture of their lived experiences and the actual situation on the ground," he said. "That coupled with your continued encouragement and support will be our greatest weapon for the debate." More on this topic   Related Story PSP raising Ceca issue because of feedback, concerns: Leong Mun Wai   Related Story Does Ceca give Indian nationals a free pass into S'pore? 5 myths and facts

Formula One: Hamilton defends Pirelli after Baku tyre blowouts

PARIS (REUTERS) - Seven-times world champion Lewis Hamilton defended Pirelli on Thursday (June 17) after Red Bull rival Max Verstappen said he was unhappy with the Formula One tyre supplier's explanation for a blowout that cost him victory at the Azerbaijan Grand Prix. Verstappen, the championship leader, suffered a left-rear failure on the straight while leading towards the end of the June 6 race in Baku. Aston Martin's Canadian Lance Stroll had earlier crashed out with a similar failure. Pirelli have ruled out any production or quality defects, identifying running conditions as the main cause with the two teams operating on lower tyre pressures than others during the race without breaching any rules. Lower tyre pressures can translate into improved performance. Pre-race minimum tyre pressures are set but teams have ways of stopping them rising as much as expected once the cars are running. Mercedes driver Hamilton told reporters at the French Grand Prix that safety was a priority and Pirelli and the governing FIA needed to police things better. "Whenever there is a failure they always put the pressures up, so that tells you something," he said. "More often than not the tyres are not running at the pressures that have been asked. "I think they (Pirelli) have done a great job with the tyres this year, they are more robust than before. "In this particular instance I don't think Pirelli are at fault." Verstappen said he was not happy with Pirelli's explanation. "I think the team did everything like they should have done, they followed all the guidelines with tyre pressures at the start. "For sure we'll go up on pressures here for this weekend. 100 per cent sure we will. Probably it has something to do with that, what happened in Baku, but it would also be nice to know if it was tyre pressure-related. Just speak out. "That would be a bit easier to understand than the explanation we got so far." More on this topic   Related Story Formula One: Mercedes modify Hamilton's 'magic' button after Baku blow   Related Story Formula One: Bottas denies anything decided about his Mercedes future Pirelli had said in their statement that the cause was due to "a circumferential break on the inner sidewall, which can be related to the running conditions of the tyre." Verstappen said he felt fortunate to have escaped unhurt from the crash. "I was actually quite lucky to hit the wall on the right hand side, instead of the left. I think if I would have gone left it would have been a really big impact," he said. Pirelli's F1 head Mario Isola told reporters that a standard sensor would be introduced next season but the company did not currently have the tools to measure pressures during the race as well as when the tyres went on the car. More on this topic   Related Story Formula One: Hamilton and Mercedes hoping for return to form at French GP   Related Story Formula One: Mercedes not at the level needed to win titles, say bosses He said predicted running conditions in Baku, based on simulations, had differed from actual ones. "We didn't achieve these conditions, not because teams were doing something against the regulations but because they were looking as usual for performance and that created a different scenario to what we were expecting," he said. "The different scenario was that mainly the tyres were running at a lower pressure compared to expectation." Isola said he would attend the drivers' briefing at Le Castellet on Friday to address any questions. More on this topic   Related Story Formula One: Verstappen crashes out but stays on top   Related Story Motor racing: Red Bull's Sergio Perez wins chaotic Azerbaijan Grand Prix

Central Global Bhd Signs MoU for JV to Build RM250M Kwasa Damansara Sewage Treatment Plant

KUALA LUMPUR, Jun 9, 2021 - (ACN Newswire via SEAPRWire.com) - Main Market-listed Central Global Berhad's ("CGB) construction arm, Proventus Bina Sdn Bhd ("PBSB"), has signed a Memorandum of Understanding ("MoU") to explore a proposed joint venture ("JV") with Multi Scopes Sdn Bhd ("MSSB") for a sewage treatment plant in Selangor.CGB executive chairman Dato' Faisal ZelmanThe scope of the proposed JV, in which PBSB would have a 70% effective stake and MSSB an effective 30% stake, would be the engineering, procurement, construction, commissioning, operation and handover of Employees Provident Fund's wholly-owned subsidiary Kwasa Land Sdn Bhd's sewage treatment plant in Petaling Jaya, Selangor.Chief Business Officer of CGB and Director of PBSB Anson Lim said: "For this project, MSSB will manage the technical aspects of the project as they are the technical experts in sewage treatment plants while PBSB will handle the infrastructure part of the project."CGB executive chairman Dato' Faisal Zelman said: "The proposed JV we are exploring through the MoU is another step in the plans we have to expand our construction business. We believe that the sewage treatment plant project would not only enable us to expand our portfolio of construction projects and orderbook but also provide us with consistent revenue for the next five years in Selangor."We continue to explore opportunities to grow both the manufacturing and construction businesses of the Group. We have since the beginning of the year won a project worth RM100.5 million for the upgrade of a water supply system in Lahad Datu, Sabah and have had our proposed private placement of 18 million new shares approved by Bursa Malaysia Securities Berhad. Proceeds from the private placement would be used to upgrade the manufacturing arm's capacity and fund a property project in Penang."As of 31 March, 2021, the Group's construction arm has an orderbook of RM130 million comprising of the Lahad Datu project and the Montage condominium project in Bayan Lepas, Penang.Please contact the below for more information:Hakim JuraimiTel: +60 12-318 5410Email: h.juraimi@swanconsultancy.biz Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

Left unchecked China would bring more conflict to the South and East China Seas

SYDNEY, Jun 9, 2021 - (ACN Newswire via SEAPRWire.com) - Carl Thayer, Emeritus Professor at The University of New South Wales, Canberra, spoke to NW Ali last week about maintaining national sovereignty during the increasingly contentious disputes in the South China Sea.- NW Ali : How can the South China Sea Disputes be settled? How can the Sovereignty of Nations be protected? How can this Dispute be handled without further regional instability?- Carl Thayer : There are two types of disputes in the South China Sea, sovereignty disputes and disputes over sovereign jurisdiction (over maritime zones and resources). Sovereignty disputes can only be settled by the agreement of parties to the dispute. Article 33 on the Charter of the United Nations states, "The parties to any dispute... shall, first of all, a seek a solution by negotiation, enquiry, mediation, conciliation, arbitration, judicial settlement, resort to regional agencies or arrangements, or other peaceful means of their own choice."Disputes over sovereign jurisdiction can be settled directly by the parties concerned or by international arbitration that is mutually agreeable. State parties to the United Nations Convention on the Law of the Sea (UNCLOS) can make a claim to have their case resolved by binding (compulsory) dispute settlement.In reality, disputes in the South China Sea cannot be settled in the foreseeable future but only managed. That is because China and Vietnam both claim "indisputable sovereignty" over rocks and features in the South China Sea and will not compromise. Domestic public opinion in both countries has become so riled that the current regimes have little room for manoeuvre. Nations can protect their sovereignty by what international relations specialists call "self-help", that is building up and modernising their armed forces for self-defence and to deter an adversary. Nations can also ally with other states to share the burden of protecting national sovereignty. The UN Charter makes provision for the Security Council to take action if a state is threatened by force or the use of force.Current disputes in the South China Sea could be managed through a legally binding and enforceable Code of Conduct ratified by all states in dispute. Or, current disputes could be managed through a balance of power in which a coalition of like-minded states bands together to maintain the peace.- NW Ali : What are Japan's strategic interests in the East and South China Seas? How have these interests shaped Japan's approaches to its own territorial claims?- Carl Thayer : Japan is an island state dependent on two-way trade, and the import of energy in order for its economy to function. China is Japan's largest trading partner. And Japan currently administers the Senkaku Islands in the East China Sea over which China asserts a claim to sovereignty. Japan is also a treaty ally of the United States which has declared that the treaty covers the Senkaku Islands.Japan's strategic interests are to maintain a peaceful regional security environment, especially on the Korean peninsula where North Korea possesses nuclear weapons and the means of delivery. Japan's strategic interests include maintaining a robust alliance with the United States in order to protect freedom of navigation and overflight, lawful commerce, and Japan's sovereignty over the Senkakus. Japan's strategic interests extend into the South China Sea because it is dependent on secure sea lines of communication for two-way trade. Japan also has a strategic interest in maintaining the U.S.-led balance of power in East Asia against the rise of China.Japan is an advanced economy. Its Constitution renounces the use of force. Japan has therefore chosen to develop modern self-defence forces and a coast guard to secure its interests. Japan, therefore, has the ability to use its Coast Guard to push back against repeated Chinese incursions around the Senkaku Islands.Over time Japanese leaders have re-interpreted Article 9 of the Constitution so that Japan can gradually play a greater role in contributing to regional security. Japan thus contributes to building up the maritime capacities of the Philippines and Vietnam.- NW Ali : What is at stake for the countries involved in the East and South China Sea disputes (China, Japan, the Philippines, Vietnam, Malaysia, Taiwan, and Brunei)? Is armed conflict between China and its neighbours imminent?- Carl Thayer : Among the countries in your question, only China and Japan are involved in maritime disputes in the East China Sea. Japan has a stake in defending its sovereignty and maintaining its alliance with the United States. China's stake is to seek hegemony by disrupting the Japan-U.S. alliance. Japan's stake is existential, in order to preserve its sovereignty and prevent its subordination to China it must build up sufficient self-defence forces to deter China while securing ironclad U.S. guarantees to come to Japan's assistance if it is menaced by China.The South China Sea disputes involve six parties: China, Taiwan, Vietnam, the Philippines, Malaysia, and Brunei. China and Taiwan have congruent claims to sovereignty and sovereign jurisdiction in the South China Sea. China's stake is to overcome the century of humiliation of the colonial era and become the hegemonic power in East Asia by disrupting the network of U.S. alliances and getting the U.S. to retreat from the area. Taiwan has limited international recognition. The Republic of China was the first to advance claims over the South China Sea by drawing up an eleven-dash line map outlining the areas it claimed. Taiwan's stake is to prevent its further international marginalization and to protect its presence on Taiping Island (Itu Aba) in the Spratly Islands.Vietnam, the Philippines and Malaysia occupy land features (rocks) in the South China Sea. They have a stake in the preservation of international law and the status quo so they can exploit and develop the marine resources in their Exclusive Economic Zones. They all face an assertive China that employs such "grey zone" tactics as lawfare, intimidation and bullying. All of these countries face a dilemma as China is their largest trading partner and could apply economic sanctions. All of these three countries welcome a U.S. presence but none want to be forced to pick sides. Therefore, all three countries stress the importance of ASEAN centrality and dialogue as the means of managing their disputes with China.Brunei does not claim and land features in the South China Sea. Brunei is currently transitioning from a wealthy economy based on the exploitation of hydrocarbons, to an economy that must diversify as hydrocarbon resources are depleted. China has stepped in to invest in Brunei to assist this transition. Brunei's economic well-being and autonomy are at stake. Brunei thus joins Vietnam, the Philippines and Malaysia in stressing the importance of ASEAN centrality and dialogue as the means of managing relations with ChinaThe possibility of armed conflict between China and its neighbours is low because China pursues a strategy of using "grey zone tactics", that is, intimidation and bullying by its Coast Guard, maritime militia and fishing fleet that falls below the threshold of armed force. However, China's use of lawfare has entered an uncertain period with the promulgation of its Law on the China Coast Guard authorising the use of armed force and destruction of facilities constructed by claimant states in specified circumstances. An outbreak of armed conflict would be short in duration and China would prevail due to its preponderance of force. Vietnam, the Philippines, Malaysia and Brunei have all adopted a low military posture to mitigate the likelihood of armed conflict.- NW Ali : How real is the recent assessment of US officials about a Chinese invasion of Taiwan being imminent? Under what circumstances do you think Xi would take such a huge risk?- Carl Thayer : There is growing consensus among government and strategic analysts that the prospect of war between China and the United States is increasing. The Australian Department of Defence, 2020 Defence Strategic Update issued in July 2020, assessed that "Major power competition, coercion and military modernisation are increasing the potential for and consequences of miscalculation. While still unlikely, the prospect of high-intensity military conflict in the Indo-Pacific is less remote than at the time of the 2016 Defence White Paper, including high-intensity conflict between the United States and China."Australia's former Prime Minister and Minister for Foreign Affairs Kevin Rudd argued in August 2020, "The once unthinkable outcome - actual armed conflict between the United States and China - now appears possible for the first time since the end of the Korean War. In other words, we are confronting the prospect of not just a new Cold War, but a hot one as well ("Beware the Guns of August - in Asia," Foreign Affairs, August 3, 2020)."More recently, in March 2021, the then Commander of the U.S. Indo-Pacific Command, Admiral Phillip Davidson stated in remarks to the Senate Armed Services Committee, "I worry that they're [China's] accelerating their ambition to supplant the United States and our leadership role in the rules-based international order... by 2050. Taiwan is clearly one of their ambitions before that. And I think the threat is manifest during this decade, in fact, in the next six years."There is also consensus that war is not imminent. China is not taking any steps to prepare for an invasion that has been detected by national technical intelligence means.A strategic analyst speaking to this author off the record said the time frame for a possible Chinese invasion of Taiwan would come during the latter half of the 2020s and early 2030s.China likely would take the risk of invading Taiwan when it felt the balance of military power had decisively shifted in its favour and that China would prevail in two scenarios. In the first scenario, China would calculate that it could invade and take control of Taiwan before the U.S. could mobilise an effective response. In the second scenario, China would conclude that the United States lacked the will to respond.- NW Ali : How effective do you think the US floating port would be in dominating SCS? Has there been any progress on the talk of the US setting up an independent fleet for SCS?- Carl Thayer : China has so militarised its seven artificial islands in the South China Sea that if conflict suddenly broke out with the United States, any U.S. Navy warship in the South China Sea, including a floating expeditionary base ship like the recently commissioned USS Miquel Keith, would be at risk. The current U.S. strategy is to position precision strike missiles around the South China Sea to overcome China's current dominance.The USS Miquel Keith would be a definite asset supporting U.S. expeditionary forces in a limited conflict by conducting mine counter-measures or supporting special forces and launching helicopter assaults. Sea control of the South China Sea would require a preponderance of naval force including submarines, surface warships, aircraft carriers and auxiliary vessels.In November 2020, in the waning days of the Trump Administration, Secretary of the Navy Kenneth Braithwaite announced his Department's intention to stand up the 1st Fleet with responsibility for the Indian Ocean. The Biden Administration's proposed budget for the U.S. Navy in Fiscal Year 2020 does not provide funding for a 1st Fleet.-- Carlyle Thayer is Emeritus Professor at The University of New South Wales Canberra and Director of the Thayer Consultancy. He is a Southeast Asia regional specialist who has taught at the Australian Defence Force Academy, Asia-Pacific Center for Security Studies, Australian Command and Staff College, and Centre for Defence and Strategic Studies, Australian Defence College. [https://unsw.adfa.edu.au/carlyle-thayer] Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

Football: Tuchel says he sensed Chelsea would win Champions League

PORTO, PORTUGAL (AFP) - Chelsea coach Thomas Tuchel said he had sensed before the Champions League final that his side would win on Saturday (May 29). Tuchel guided Paris Saint-Germain to last season's Champions League final which they lost 1-0 to Bayern Munich. PSG sacked the German in December but he was almost immediately hired by Chelsea and led the Russian-owned club to the second Champions League victory in their history thanks to a single goal from Kai Havertz in Porto. "You know I was so grateful to arrive a second time (in the final after doing so with PSG last year) but this felt different. I told people before somehow it was," Tuchel told BT Sport. He paid tribute to his "unbelievable" players. "It was an incredibly tough fight, what a fight. Today, they were determined to win this. We wanted to be the stone in their (City's) shoe. "I told everyone to step up and to be more brave with the ball. "Kai was strong and delivered again. He has great heart." More on this topic   Related Story Football: Chelsea shatter dream of Guardiola’s Man City to win Champions League final   Related Story Football: Pupil beats master as Chelsea's Tuchel gets the better of Guardiola

Man who sexually groomed 13-year-old girl jailed for two years and 10 months

SINGAPORE - A man who started sexually grooming a teenager when she was 13 years old has been jailed for two years and 10 months. Nick Chong Seng Cheong, 24, had sex with the girl on multiple occasions and also paid her for it. He pleaded guilty on Monday (April 12) to three counts of sexual penetration of a minor under 14 and one count of possessing obscene films. Seven charges of sexual penetration of a minor were taken into consideration by District Judge Janet Wang during sentencing. The girl cannot be named due to a gag order to protect her identity. Court documents state that Chong was a project lead at an engineering company when he committed the offences. He became acquainted with the victim through chat application ChatIW in October 2017. They subsequently communicated via WhatsApp, and Chong would ask the girl to send him photographs of her private parts. He also sent her photographs of his genitals and videos of himself performing a sex act. Chong later suggested that they become "friends with benefit", to which the girl agreed, on the condition that she would be paid whenever they engaged in sexual activities. By that time, the girl had informed Chong that she was 13, the court heard. They met up to engage in sexual activities almost every month, from October 2017 to February 2019. These meetings took place either in toilets for the handicapped at various shopping malls or at hotels booked by Chong. On each occasion after the first, Chong paid the victim between $30 and $50, depending on the sexual activity involved. He knew the girl wanted the money to buy games, among other things, the court heard. More on this topic   Related Story Grooming, self-blame and fear: Why intra-familial sexual abuse cases stay buried for years   Related Story To protect children sexually abused by family members, CPS officers draw up safety plan Chong told the girl to bring a change of clothes each time they met at a hotel, explaining that she would be questioned by the hotel staff if she turned up in school attire. He would also instruct her to act like his sister to avoid arousing the suspicion of the staff. The court heard that Chong took videos of them having sex together in the hotels, which he sent to the victim. His offences came to light after the girl told the police in March 2019 that she had had sex with several men. Two mobile phones were later seized from Chong during police investigations, and were found to contain 48 obscene video clips. In her written submissions, Deputy Public Prosecutor Emily Koh urged the court to jail him for at least three years. She said Chong had sought to exploit the girl for his sexual gratification despite being aware of her young age. In sentencing Chong on Monday, District Judge Wang noted that there was no dispute that there was a "considerable measure of sexual grooming" in this case. More on this topic   Related Story Man who groomed girl, 12, to engage in sexual acts gets 13 years' jail and caning   Related Story Courts & Crime: Read more stories For each offence of sexually penetrating a minor under 14, Chong could have been jailed for up to 20 years. He could also have been fined or caned. He could also have been jailed for up to six months, or fined up to $200,000, or both, for possessing obscene films.

IP insurers’ small panels irk some policyholders

SINGAPORE - When lawyer Leslie Tham, 48, needed to go for an urgent medical procedure last year, his agent told him he needed to get pre-approval to make a claim on his Integrated Shield Plan (IP). He checked his insurer's website and made calls, and waited for the pre-authorisation, not knowing how long it would take, or if it would even come. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

Football: Fulham squander chance to escape bottom three

LONDON (REUTERS) - Fulham's Premier League survival hopes suffered a damaging blow as a 2-1 home defeat by Leeds United on Friday (March 19) left them in the relegation zone with games running out. Scott Parker's side would have climbed out of the bottom three with a win but goals by Patrick Bamford and Raphinha earned Leeds the points at Craven Cottage. Joachim Andersen had cancelled out Bamford's goal before halftime but the visitors were the better side and thoroughly deserved a victory that moved them into 11th place. Fulham's failure will come as a huge relief for fourth-bottom Newcastle United who would have slipped into the drop zone had the London side managed a victory. Parker's team remain on 26 points from 30 games while Newcastle, who play at Brighton & Hove Albion on Saturday, are two points better off having played two fewer games.

Golf: World number one Dustin Johnson says no to Olympics over travel issues

MIAMI (AFP) - Top-ranked Dustin Johnson said on Saturday (March 13) that travel issues around golf tour events have prompted him to opt out of consideration for the US squad to compete at the Tokyo Olympics. "It's a lot of travelling at a time where it's important for me to feel like I'm focused playing on the PGA Tour," Johnson said after Saturday's third round of the US PGA Tour's Players Championship. The reigning Masters champion said last year he would not have played in the Japan Games had they been staged as planned in 2020 because he was making the US PGA's playoffs a priority and those events began two weeks after the Olympics. The Olympics was postponed to this July and Johnson won last year's FedEx Cup playoff crown to achieve that career goal. But this time, Johnson doesn't like the July 29-Aug 1 Olympic tournament being so close to the British Open, set for July 15-18 at England's Royal St George's, and the WGC St Jude Invitational in Memphis Aug 5-8. "I really didn't think much about it," Johnson said. "I actually didn't really ever decide whether I was going to play or not. I just didn't sign up. "But it's right in the middle of a big stretch of golf for me, so that was the reason I was kind of waffling on it a little bit. "It's a long way to travel." Johnson qualified for the 2016 US Olympics, but dropped out just weeks before the start due to concerns over the Zika virus in Brazil. Johnson said he would have considered the Olympics more had there been more time between the US$10.5 million WGC event and the Tokyo Olympics. The four top-ranked American players after the US Open in June would qualify for the Olympics, provided all are in the top 15. This week, 11 of the top 15 in the world rankings are US players. With Johnson out, the four Americans who would qualify currently include third-ranked Justin Thomas, fourth-ranked 2020 PGA Championship winner Collin Morikawa, fifth-ranked Xander Schauffele and sixth-ranked Bryson DeChambeau, the reigning US Open champion. Leading the chase to overtake them over the next three months to play in Tokyo are eighth-ranked Masters winner and 2016 US Olympian Patrick Reed, world number nine Patrick Cantlay, 10th-ranked Webb Simpson and four-time major winner Brooks Koepka, ranked 12th. 'Shoot me in the foot' Simpson said on Tuesday he wasn't likely to play in Tokyo if he did move up and qualify. "Nothing against the Olympics, but I'm personally more interested in trying to win majors, The Players Championship, the FedExCup than be a medalist in the Olympics," Simpson said. "Part of it is exciting for me, but the thought of going halfway around the world for that time frame in that part of our season is really tough for me to swallow." "It would be a hard one for me to go to, knowing what's at stake here on the PGA Tour. "I feel like it would really shoot me in the foot for the playoffs and right now in my career playoffs are more important to me than the Olympics."

Tennis: Qatar was a ‘stepping stone’ says ousted Federer with eye on grass court swing

DOHA (REUTERS) - Roger Federer's hopes of winning a fourth title in Qatar were dashed after Thursday's quarter-final exit but the Swiss said his first event after two knee surgeries was just a "stepping stone" as he targeted full fitness for the grasscourt season. Federer took the opening set against Nikoloz Basilashvili before the Georgian fought back to win 3-6 6-1 7-5, ending the 39-year-old Swiss' challenge at the tournament - his first event in 14 months. "I'm actually happy that I was able to play back-to-back three-set matches against top players. That's an important step forward to me," Federer, who beat Dan Evans in the last-16, told reporters. "Like I said, I'm not 100 per cent yet. I can feel it, I can see it. From that standpoint, (what's) important is to be 100 per cent by the grasscourt season... I'm still building up. "So this is a stepping stone. I'm actually happy how I felt today on court overall." Federer initially eyed a return at last month's Australian Open but slow progress in his recovery convinced him to skip the Grand Slam and he said he would play in events which would help him regain his fitness before Wimbledon. Tied with Rafa Nadal on 20 Grand Slam wins, Federer has won Wimbledon eight times. "We've just got to take a real good look at the schedule and... see how much workload the body and knee can still take, what's the best way to prepare for basically the beginning of the season for me, which is the grasscourt season," he added. Federer also said he had not yet decided if he would play in Dubai, an ATP 500 event which begins on Sunday. "I'll decide probably in the next 24 hours," he said. More on this topic   Related Story Tennis: Federer loses in second Qatar match after return from injury   Related Story Tennis: Federer makes winning return after 13 months out

Wet markets still crowded days before CNY

SINGAPORE - Wet markets around Singapore are still seeing huge crowds three days before the start of Chinese New Year. The Straits Times was at the wet markets at Kovan, Chong Pang and Potong Pasir on Tuesday morning (Feb 9) and some customers said they had to queue for more than two hours. Safe distancing measures did not appear to be observed in some queues. When ST visited the Kovan Market and Food Centre at Block 209 Hougang Street 21 at 10am, a queue of about 250 people had formed from the market all the way to Kovan MRT station about a three-minute's walk away. Customers said they had been queueing for between one and two hours. A customer, who wanted to be known only as Madam S Koh, 60, had been queueing for about 1½hr and said this was the first time she had seen such a long queue in more than 50 years. She said: "I'm not surprised, it's quite expected. CNY is coming, I think people are doing last-minute shopping." Ms Sera Ho, 62, who works in a legal firm, said the queue was not so long when she visited the market last Saturday. Ms Ho, who usually spends about an hour to do her shopping but took three hours today, said: "The queue is very long because of safe distancing. They're controlling the crowds so there aren't that many people inside." Customers told ST that officers from the National Environment Agency were managing the crowd inside the market. A staff from the Aljunied Town Council, who was helping out with crowd control, said around 120 people were allowed into the market at a time. A Safe Distancing Ambassdor enforces safety measures at the Kovan Market and Food Centre, on Feb 9, 2021.  ST PHOTO: GIN TAY Ms Doris Lau, 58, who lives in Punggol, said she had been queueing for an hour since 9am. She added: "I wanted to turn back, but I have groceries to top up." She said some groceries she wanted to buy, such as fishballs, had sold out. Housewife Theresa Tan, 73, said she might visit the market at Ang Mo Kio instead of Kovan tomorrow to avoid the queue. She said: "This is the first time I have queued from the MRT station. I don't know why today is so special." When ST reached Chong Pang City Wet Market at 9.30am, there were about 95 people in the queue. About six crowd controllers were ensuring that customers adhered to safe distancing measures. Customers had to scan SafeEntry QR codes before being allowed to enter the market and were trying to keep a safe distance from one another. The crowd controllers told ST that only 150 patrons were allowed inside the market and the barriers would be lifted at 11am. Inside, ST saw a safe distancing ambassador patrolling with a crowd controller. Crowd controllers were also stationed at each exit, ensuring the public did not jump queue to enter the market. Accounts officer, Ms Neo Bee Leng, 46, who waited about an hour with her elderly mother to enter the market, said that in previous years, the market would be packed and people would have to push each other inside the market. She was concerned about the crowds, especially for her elderly mother, but said she would try to ensure they kept a safe distance from each other. Mr Kelvin Yuen, 50, who owns a fruit stall in the market, said that in previous years, the market would be packed at around 10am. But this year, the crowds have reduced by about half. At Block 147 Potong Pasir, Avenue 1, residents flocked to the mini market. When ST visited at 9.30am, customers were seen brushing past one another inside Jackson Market Shop while over 20 customers queued to pay without observing safe distancing. When asked why she was doing her marketing now and not earlier, Ms Rooba Chevi, 27, who works as a student care teacher, said: "It was hard to buy earlier as I work on weekdays and the weekend (crowd) is worse."