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LATEST: S'pore FUCKED Again In China? Tianjin Eco City This Time

ahleebabasingaporethief

ahleebabasingaporethief

Alfrescian
Loyal
ALREADY LIKE GOT BIG PROBLEMS ACCORDING TO THIS REPORT.......BUT NOT REPORTED IN SINGAPORE ONLY REPORTED OVERSEAS.
​



Tianjin Eco City turning into another Suzhou nightmare for Singapore

December 27, 2009
Singapore’s latest foray into China, led by the <leo_highlight style="border-bottom: 2px solid rgb(255, 255, 150); background-color: transparent; background-image: none; background-repeat: repeat; background-attachment: scroll; background-position: 0% 50%; -moz-background-size: auto auto; cursor: pointer; display: inline; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial;" id="leoHighlights_Underline_0" onclick="leoHighlightsHandleClick('leoHighlights_Underline_ 0')" onmouseover="leoHighlightsHandleMouseOver('leoHighlights_Underl ine_0')" onmouseout="leoHighlightsHandleMouseOut('leoHighlights_Underli ne_0')" leohighlights_keywords="ministry" leohighlights_url_top="http%3A//shortcuts.thebrowserhighlighter.com/leonardo/plugin/highlights/3_1/tbh_highlightsTop.jsp?keywords%3Dministry%26domain %3Dnokia.sgforums.com" leohighlights_url_bottom="http%3A//shortcuts.thebrowserhighlighter.com/leonardo/plugin/highlights/3_1/tbh_highlightsBottom.jsp?keywords%3Dministry%26dom ain%3Dnokia.sgforums.com" leohighlights_underline="true">Ministry</leo_highlight> of National Development to develop an eco-city in the northern <leo_highlight style="border-bottom: 2px solid rgb(255, 255, 150); background-color: transparent; background-image: none; background-repeat: repeat; background-attachment: scroll; background-position: 0% 50%; -moz-background-size: auto auto; cursor: pointer; display: inline; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial;" id="leoHighlights_Underline_1" onclick="leoHighlightsHandleClick('leoHighlights_Underline_ 1')" onmouseover="leoHighlightsHandleMouseOver('leoHighlights_Underl ine_1')" onmouseout="leoHighlightsHandleMouseOut('leoHighlights_Underli ne_1')" leohighlights_keywords="metropolis" leohighlights_url_top="http%3A//shortcuts.thebrowserhighlighter.com/leonardo/plugin/highlights/3_1/tbh_highlightsTop.jsp?keywords%3Dmetropolis%26doma in%3Dnokia.sgforums.com" leohighlights_url_bottom="http%3A//shortcuts.thebrowserhighlighter.com/leonardo/plugin/highlights/3_1/tbh_highlightsBottom.jsp?keywords%3Dmetropolis%26d omain%3Dnokia.sgforums.com" leohighlights_underline="true">metropolis</leo_highlight> of Tianjing is turning into another Suzhou nightmare for the island state.
The China-Suzhou Industrial Park (SIP) was set up in 1994 at the outskirts of the Suzhou City in Jiangsu province with the help of Singapore funds and expertise. Singapore owned a 65% stake in the park.
Even as the park was being constructed, the Suzhou City government set up Suzhou New District Industrial Park (SND) right next to SIP. It was the exact replica of the Singapore model.
As the Suzhou City government had a majority stake in SND, it largely ignored the SIP and concentrated on promoting the SND instead.
After incurring losses of some US$90 million over 5 years, the Singapore consortium lowered its stake to 35 percent, raising the Chinese consortium’s stake to 65 percent from 35 percent and reducing the Singaporean share from a planned 70 sq.km. to just 8 sq.km (source: wikipedia)
According to a report in the Sunday Times, tension appears to be building up in the joint Sino-Singapore <leo_highlight style="border-bottom: 2px solid rgb(255, 255, 150); background-color: transparent; background-image: none; background-repeat: repeat; background-attachment: scroll; background-position: 0% 50%; -moz-background-size: auto auto; cursor: pointer; display: inline; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial;" id="leoHighlights_Underline_2" onclick="leoHighlightsHandleClick('leoHighlights_Underline_ 2')" onmouseover="leoHighlightsHandleMouseOver('leoHighlights_Underl ine_2')" onmouseout="leoHighlightsHandleMouseOut('leoHighlights_Underli ne_2')" leohighlights_keywords="team" leohighlights_url_top="http%3A//shortcuts.thebrowserhighlighter.com/leonardo/plugin/highlights/3_1/tbh_highlightsTop.jsp?keywords%3Dteam%26domain%3Dn okia.sgforums.com" leohighlights_url_bottom="http%3A//shortcuts.thebrowserhighlighter.com/leonardo/plugin/highlights/3_1/tbh_highlightsBottom.jsp?keywords%3Dteam%26domain% 3Dnokia.sgforums.com" leohighlights_underline="true">team</leo_highlight> as Singaporean and Chinese officials often do not see eye to eye on such things as work priorities and timing.
A Singaporean, who has lived in China for over a decade and works for a company with close dealings with the Eco-City was quoted as saying: “We may have another Suzhou Industrial Park tangle on our hands.”
One problem which continues to plague the project as in Suzhou is the difference in priorities between local officials and the Singaporeans.
Though the project has received strong support from the central government in Beijing, it is the provincial officials the Singapore <leo_highlight style="border-bottom: 2px solid rgb(255, 255, 150); background-color: transparent; background-image: none; background-repeat: repeat; background-attachment: scroll; background-position: 0% 50%; -moz-background-size: auto auto; cursor: pointer; display: inline; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial;" id="leoHighlights_Underline_3" onclick="leoHighlightsHandleClick('leoHighlights_Underline_ 3')" onmouseover="leoHighlightsHandleMouseOver('leoHighlights_Underl ine_3')" onmouseout="leoHighlightsHandleMouseOut('leoHighlights_Underli ne_3')" leohighlights_keywords="team" leohighlights_url_top="http%3A//shortcuts.thebrowserhighlighter.com/leonardo/plugin/highlights/3_1/tbh_highlightsTop.jsp?keywords%3Dteam%26domain%3Dn okia.sgforums.com" leohighlights_url_bottom="http%3A//shortcuts.thebrowserhighlighter.com/leonardo/plugin/highlights/3_1/tbh_highlightsBottom.jsp?keywords%3Dteam%26domain% 3Dnokia.sgforums.com" leohighlights_underline="true">team</leo_highlight> have to liaise with and many do not share the vision of their Singapore counter-parts.
To the Tianjin officials who are there only for a short stint, they are desperate to produce quick results which will earn them promotions elsewhere.
For example, while Singapore would like to have Housing Board-style public housing that will cater to low-income Chinese, Tianjin officials have been lukewarm to the idea because they worry over who will stump up the cash to subsidise the apartments.
A Tianjin official apparently told his Singaporean colleague:
“By the time the public housing project is completed, many of us Tianjin officials would likely be promoted elsewhere. Who would still be around to ensure that it is really the poor people who are relocated to this public housing estate?”
Singapore appears not to have learnt its previous lessons from Suzhou – that written contracts count for little in business transactions in China and local officials are often more interested in securing promotions for themselves than the welfare of the people.
There is an ancient Chinese saying: “The mountains are tall and the Emperor resides far away”. The Tianjin provincial government runs autonomously on its own and even the central government in Beijing has to “kowtow” to it in order to get things done there.
Like in Suzhou, the project was supposed to be a joint collaboration between two national governments, but end up being hijacked by the provincial government instead.
For some inexplicable reasons, a state agency – the <leo_highlight style="border-bottom: 2px solid rgb(255, 255, 150); background-color: transparent; background-image: none; background-repeat: repeat; background-attachment: scroll; background-position: 0% 50%; -moz-background-size: auto auto; cursor: pointer; display: inline; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial;" id="leoHighlights_Underline_4" onclick="leoHighlightsHandleClick('leoHighlights_Underline_ 4')" onmouseover="leoHighlightsHandleMouseOver('leoHighlights_Underl ine_4')" onmouseout="leoHighlightsHandleMouseOut('leoHighlights_Underli ne_4')" leohighlights_keywords="ministry" leohighlights_url_top="http%3A//shortcuts.thebrowserhighlighter.com/leonardo/plugin/highlights/3_1/tbh_highlightsTop.jsp?keywords%3Dministry%26domain %3Dnokia.sgforums.com" leohighlights_url_bottom="http%3A//shortcuts.thebrowserhighlighter.com/leonardo/plugin/highlights/3_1/tbh_highlightsBottom.jsp?keywords%3Dministry%26dom ain%3Dnokia.sgforums.com" leohighlights_underline="true">Ministry</leo_highlight> of National Development, which is funded entirely by taxpayers’ monies, is directly involved in the Tianjin Eco City.
Asked why it was picked as the lead agency, the MND told The Sunday Times that its ‘expertise in township development is essential, especially in areas such as master planning…and the provision of housing and green spaces’.
It is not revealed how much money that MND has pumped into Tianjin so far. There is no opposition in parliament to hold the ruling party accountable which gives it the freedom to do anything as it wishes without answering to the people.
In China, the officials and businessmen are frequently decried as being in “cahoots” with one another to cheat the people. In Singapore, the officials and businessmen are together in one single “class”.
An earlier Straits Times report in August this year described Singapore’s Minister of National Development Mah Bow Tan as a ”key player” in the development of the Tianjin eco-city, which China and Singapore formally agreed to develop in Nov 2007. He co-chair a joint business council on cooperation between Singapore and Tianjin.
With due respect to Mr Mah, he is hardly the ideal person to fill such a position. An engineer by training, he worked in the civil service during his entire career before he was plucked to stand in the elections and becoming a minister. He never had any experience working in China before.
The government should never be involved in business at all which should be left to the private sector with the necessary drive, experience and expertise.
Fortunately for Mah, he would never be asked to answer for any mistakes made just like in Suzhou when the Singapore consortium reportedly lost more than USD$90 million dollars in 5 years.
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ahleebabasingaporethief

ahleebabasingaporethief

Alfrescian
Loyal
gbomega said:
Got another 22 billion modern agriculture farm coming... your news accurate or not?
Click to expand...

You mean this? the good projects THE SCUMS can wait long long lah. They will give to HK and Taiwanese first lah.


<!--CONTENT STARTS HERE--> <center>
logo.gif

Chaoda Modern Agriculture (Holdings) Limited
(Incorporated in the Cayman Islands with limited liability) </center> <hr> <center>Chaoda Announces 2009/2010 Interim Results
Net Profit up 17% to RMB1,548 million
Sound Cash Position Lays a Solid Foundation for Sustainable Growth</center> <table width="100%" border="1"> <tbody><tr><td> HIGHLIGHTS
Group turnover increased by 13% to RMB3,237 million.
Gross profit increased by 9% to RMB2,069 million.
Profit from operations increased by 20% to RMB1,363 million.
Excluding major non-cash flow items, profit for the period attributable to owners of the Company rose to RMB1,548 million, up 17%.
</td></tr></tbody></table>
(23 March 2010, Hong Kong) Chaoda Modern Agriculture (Holdings) Limited (the "Company" or "Chaoda", together with its subsidiaries, collectively the "Group"; HKEx: 682) is pleased to present the interim results for the six months ended 31 December 2009.
FINANCIAL REVIEW
Helped by the steady growth in vegetable cultivation business and the advantages brought by the enhancement of its core competitiveness, the Group continued to achieve good results for the six months ended 31 December 2009. The Group recorded a growth of 13% in turnover to RMB3,237 million (31 December 2008: RMB2,867 million). Gross profit of the Group increased by 9% to RMB2,069 million (31 December 2008: RMB1,892 million).
Profit from operations rose 20% to RMB1,363 million (31 December 2008: RMB1,139 million). In respect of the operating expenses, selling and distribution expenses amounted to RMB344 million (31 December 2008: RMB326 million), maintained at the same level of 11% of the turnover as the last financial period. General and administrative expenses reduced to RMB74 million from RMB134 million in the last financial period. As a whole, the total operating expenses for the financial period under review decreased by 3% of the turnover as compared with the last financial period and amounted to RMB543 million.
Excluding major non-cash flow items, profit for the period attributable to owners of the Company rose to RMB1,548 million, up 17%.
The Board has resolved not to declare any interim dividend for the six months ended 31 December 2009 (six months ended 31 December 2008: Nil).
The Group has maintained sound cash position. As at 31 December 2009, cash and cash equivalents of the Group amounted to RMB3,012 million (31 December 2008: RMB1,700 million).
AGRICULTURAL LAND
As at 31 December 2009, the production base area of the Group's core business, including vegetable land, tea garden and fruit garden, amounted to 609,375 mu (40,625 hectares), an increase of 6% when compared with 572,975 mu (38,198 hectares) as at 31 December 2008. It also recorded an increase of 5% compared with 578,475 mu (38,565 hectares) as at 30 June 2009. The Group operates 34 production bases in 13 different provinces and cities in China.
The weighted average production area for vegetables as at 31 December 2009 increased by 10% to 479,837 mu (31,989 hectares) when compared with 435,020 mu (29,001 hectares) as at 31 December 2008. It also represented an increase of 9% when compared with 441,520 mu (29,435 hectares) as at 30 June 2009.
MARKET REVIEW AND OUTLOOK
The vegetable and fruit market of China was largely stable in 2009. However, vegetable exports (including frozen, processed and dried vegetables) slightly dropped by 2.0% to 8.027 million tonnes due to continuous impact of the financial crisis. The value of exports rose 5.2% to US$6.77 billion.
In January 2010, the Central Committee of Communist Party of China and <leo_highlight style="border-bottom: 2px solid rgb(255, 255, 150); background-color: transparent; background-image: none; background-repeat: repeat; background-attachment: scroll; background-position: 0% 50%; -moz-background-size: auto auto; cursor: pointer; display: inline; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial;" id="leoHighlights_Underline_0" onclick="leoHighlightsHandleClick('leoHighlights_Underline_0')" onmouseover="leoHighlightsHandleMouseOver('leoHighlights_Underline_0')" onmouseout="leoHighlightsHandleMouseOut('leoHighlights_Underline_0')" leohighlights_keywords="the%20state" leohighlights_url_top="http%3A//shortcuts.thebrowserhighlighter.com/leonardo/plugin/highlights/3_1/tbh_highlightsTop.jsp?keywords%3Dthe%2520state%26domain%3Dwww.irasia.com" leohighlights_url_bottom="http%3A//shortcuts.thebrowserhighlighter.com/leonardo/plugin/highlights/3_1/tbh_highlightsBottom.jsp?keywords%3Dthe%2520state%26domain%3Dwww.irasia.com" leohighlights_underline="true">the State</leo_highlight> Council announced the No. 1 Document in respect of "Certain Opinions on the Coordination and Implementation of Rural Development" to address the "Three Rural Issues" on which the PRC government has put emphasis for the seven consecutive years. The document focuses on allocation of resources to rural areas, and encourages the development of good quality agricultural produce, green food and organic agricultural produce. It also emphasises the improvement on laws, regulations and policies of land contract management in rural areas. Specific methods will be made to ensure that the existing land contract management for rural areas remains stable and unchanged indefinitely in the future. In addition, the government continues to increase its investment in agriculture. In 2009, the investment of the central government in solving "Three Rural Issues" amounted to RMB725.3 billion, an increase of 22% as compared with 2008. In 2010, the government plans to invest RMB818.3 billion, an increase of RMB93 billion over 2009.
The foundation of Chaoda business model, "company + production bases + farmers", lies in land development. The government policy to maintain the existing land contract management for rural areas is favourable to the Group's long-term planning and stable growth. With the implementation of favourable policies for agricultural development and continuous improvement in the operating environment of agriculture, the Group believes that its prospects for growth remain promising. In the future, vegetable and fruit cultivation will continue to be its core business. The Group will be committed to expanding its production bases, enhancing its modern agricultural system and striving for further technological innovation. As such, it will continue to steer the industrialisation, standardisation and modernisation of the vegetable cultivation.
About Chaoda Modern Agriculture (Holdings) Limited
Chaoda Modern Agriculture (Holdings) Limited ("Chaoda", HKSE: 00682) is a leading enterprise in the production and distribution of ecologically grown vegetables and other agricultural products. It was listed on the main board of the Stock Exchange of Hong Kong in year 2000. Devoted to the establishment of large-scale and standardized farming production bases in various areas, Chaoda ensures year-round supplies of high-quality products to domestic and international customers through wholesale, institutional delivery and export trading. As a modern agricultural enterprise, Chaoda's mission is to supply healthy and nutritious products to consumers globally.
For more information, please visit www.chaoda.com.hk or www.irasia.com/listco/hk/chaoda .
For press enquiries:
Christensen International Limited
Fung Hon/ Eric Yip/ Renee Chen
Tel: 2117 0861
Fax: 2117 0869
Email: [email protected] / [email protected] / [email protected]
<hr> Source: Chaoda Modern Agriculture (Holdings) Limited​
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