Jetstar to make Changi Airport its largest hub in Asia
Changi Airport Group (CAG) and Jetstar signed an agreement today to launch a strategic partnership that will see Jetstar continue to make Singapore Changi Airport its largest air hub in Asia for both short and long haul operations. As part of the agreement, Jetstar will operate its highest number of services and base its largest number of A320-family aircraft in Asia at Changi. It also commits to introduce long haul services using wide body aircraft out of Singapore.
Under the three-year agreement, the Jetstar Group – which includes Jetstar in Australia and Jetstar Asia/ Valuair based in Singapore – is committed to increase existing flight frequencies and offer more destinations from Singapore.
Jetstar’s projected growth at Changi will include additional A320-family narrow body services and, for the first time, wide-body A330-200 medium and long haul flights to and from destinations in Asia and beyond. Jetstar also aims to grow the percentage of transit and transfer traffic through Changi among its passengers.
CAG will support Jetstar’s continued growth at Changi Airport with various incentives under the Changi Airport Growth Initiative which was introduced on 1 January 2010. The incentives will enable Jetstar to lower its cost of operations at Changi. It will also receive additional incentives for launching services to cities not currently connected to Changi. This will provide more offerings and new exciting destinations for passengers travelling via and out of Singapore.
As a partner, CAG will work closely with Jetstar to explore route opportunities to grow its traffic out of Changi. CAG will also support Jetstar’s operational needs, such as to improve its ground operations and to enhance the airport experience of its passengers, for example by introducing an early check-in option for Jetstar passengers travelling on the same day.
Growing at Changi, together
Welcoming CAG’s partnership with Jetstar, CAG Chief Executive Officer, Mr Lee Seow Hiang, said, “We are honoured that Jetstar has chosen Changi Airport to be its largest hub in Asia. We are committed to supporting Jetstar’s growth at Changi by helping it to grow traffic and to keep costs low. By hubbing at Changi, Jetstar will gain from inter-lining opportunities with the many airlines that fly here, including its parent, Qantas, which already uses Changi as an Asia hub.
“For Changi Airport, it will benefit from Jetstar’s increased number of flights and destinations, which will contribute to higher passenger traffic and a stronger connectivity network. And, importantly, this partnership is also beneficial for air travellers in the region who will enjoy a greater choice of low-fare travel options through Changi.”
Mr Lee added, “Our agreement with Jetstar signals CAG’s strong desire to work with our airline partners to grow the pie at Changi. We are ready to develop customised partnerships with airlines based on their business models and growth plans, whether they are full service or low cost carriers.”
Jetstar Chief Executive Officer Mr Bruce Buchanan said the new agreement would support significant growth opportunities for Jetstar and its networks linking Singapore.
“This agreement is most important to us and provides a platform for sustainable future growth throughout Asia,” Mr Buchanan said.
“Partnerships like this with Changi Airport Group allow us to invest in both existing and new flying markets and present opportunities from Singapore for us to drive growth.
“Singapore is of high strategic importance to Jetstar and equally of great importance to the Qantas Group. This agreement provides further leverage to us now seeking the full benefits of a burgeoning hub operation in Singapore.
“The clear operational advantages of Singapore as a hub and primary access point into Asia are clear and can now be further built upon as a result of this agreement.”
Jetstar, a pioneer in Asia’s low cost carrier sector, operates 408 flights each week to and from Changi, offering its passengers a varied menu of 23 destinations. Its future planned growth is supported by fleet expansion plans to beyond 100 aircraft by 2014/15.
Sunday, February 7, 2010
Friday, February 5, 2010
BEA Completes Sale and Purchase of BEA Canada and ICEA with ICBC
The Bank of East Asia, Limited (“BEA”) today announces that the agreements, which it reached with the Industrial and Commercial Bank of China Limited (“ICBC”) on 4th June, 2009 regarding the sale and purchase of The Bank of East Asia (Canada) (“BEA Canada”) and ICEA Finance Holdings Limited (“ICEA”) have been completed, following satisfaction of all pre-agreed conditions. BEA has completed the disposal of its 70% interest in BEA Canada to ICBC for a total consideration of CAD80,249,120 (equivalent to approximately HK$589.2 million). Meanwhile, BEA has also concluded its acquisition of ICBC’s remaining 75% shareholding in ICEA, for a total consideration of HK$372,154,045. The two transactions are inter-conditional, and with their completion today, ICEA immediately becomes a wholly-owned subsidiary of BEA, and BEA Canada ceases to be a subsidiary of the BEA Group. BEA and ICBC will continue to co-operate in the management and operation of BEA Canada and a shareholders agreement has been entered into between the three parties governing their respective rights and obligations. Commenting on the acquisition of ICEA, Dr. David K.P. Li, Chairman & Chief Executive of BEA, says: “We are pleased to welcome the customers, business partners, and staff of ICEA to the BEA Group. We look upon this acquisition as a prime opportunity to enlarge our customer base and to extend our market reach in the securities business. We are confident that with BEA’s expertise and resources to provide its customers with a broad range of financial services to cater for their diverse needs, ICEA will go from strength to strength.” ICEA was established in 1998 through the joint partnership between ICBC and BEA. The company principally engages in the provision of securities broking, underwriting, margin financing, and futures and options contracts dealing services.
Saturday, January 30, 2010
Siam Discovery unveils a Grand “Rediscovery” Plan Presenting over 1 billion baht - Three World-Class Magnets
Siam Piwat Company Limited, the owner of Siam Center and Siam Discovery, reveals a major renovation of Siam Discovery. Giving renewed vigor to its exceptional mix of new discoveries and true to its rank as “The Ultimate Lifestyle & Entertainment Shopping Complex,” Siam Discovery welcomes the world’s leading visitor attractions operator Merlin Entertainments to open “Madame Tussauds Bangkok”, the first of the famous and iconic wax figure tourist attractions in Southeast Asia. Merlin Entertainments is expected to make a total investment of over Baht 500 million (US$15m) on the 3,000 square meter attraction. Adding to the mix of new anchor tenants are “Ice Planet”, the state-of the-art ice-skating facility worth over Baht 180 million and a 1,500 square meter premium multi-purpose exhibition hall worth over Baht 50 million. In warming its welcome to these 3 new magnets, Siam Piwat is devoting another Baht 300 million to make over both inside and out, including in particular a façade destined to be an architectural landmark of Bangkok and introducing Thailand to its first application of ETFE, an advanced engineering phenomenon in construction materials. Renovation works is scheduled to start in March and is due for completion by October 2010.
Mrs. Chadatip Chutrakul, CEO of Siam Piwat reveals : “Siam Discovery was the first and the original lifestyle shopping & entertainment complex in Thailand. When it opened in 1997, the shopping complex offered a fresh mix of retail and services unrivalled with other shopping centers, encompassing a variety of exceptionally cutting-edge and unique brands both Thai and international which were not offered in the other shopping centers. Siam Discovery indulged the new generation of sophisticated urbanites with a strong streak of individuality and right from the start, Siam Discovery has always maintained its positioning as one of Bangkok’s most popular shopping destinations for locals and tourists alike.”
“Siam Discovery’s policy has always aimed to offer its customers the latest global trends and introduce them to new remarkable discoveries, whether in retail, lifestyle or entertainment. The Company therefore has been planning since the beginning of 2009 to give Siam Discovery a major renovation in order to be completed when the global economy is showing positive signs. Our plan includes not only the exterior façade and interior but also the signing of 3 new anchor tenants on floors 6-8 of Siam Discovery. The 3 World Class Magnets cover a total floor area of more than 8,000 square meters, establishing itself as a world-class entertainment destination,” added Mrs. Chadatip.
Siam Discovery presents 3 one-of-a-kind world-class magnets
Siam Discovery’s grand renovation includes the installation of three world-class magnet enterprises on its 6th to 8th floors, namely:
1. Madame Tussauds Bangkok, the original famous wax works tourist attraction debut in Southeast Asia
Merlin Entertainments, the world’s second largest visitor attraction operator, is investing Baht 500-million (US$15m) to create “Madame Tussauds Bangkok” on the 6th – 7th floors of Siam Discovery, covering an area over 3,000 sq.m. This will be the tenth Madame Tussauds in the world and the third in Asia, after Shanghai and Hong Kong. The ultimate celebrity experience and unlike any other tourist attraction with its amazingly lifelike wax figures displayed in a highly entertaining interactive style, Madame Tussauds Bangkok is expected to be the hottest new place to visit in the City. Most importantly, with no bars, ropes or barriers around the figures visitors will really feel like they are standing beside, or being photographed with their heroes.
The accent at “Madame Tussauds Bangkok” is on contemporary elegance, fun and inter-active entertainment for every visitor. At any given time it will house over 70 wax figures of international celebrities, from HRH Queen Elizabeth II, Barack Obama and Beyonce Knowles, along with such famous Thai figures such as Pancake - Khemanit Jamikorn and Sombat Metanee Building will start in March and Madame Tussauds Bangkok is expected to open in September 2010.
Mrs. Chadatip says : “We are absolutely thrilled to have been selected by a multi-national company such as Merlin Entertainments for this very considerable foreign investment which will bring over Baht 500 million to Thailand. The venture will also enable more Thais to find employment with real prospects, and significantly contribute to the country’s economic growth and tourism development. Not least, it will help ease liquidity in the Thai economy and reinforce the strength of Bangkok as a tourist destination and as well as the confidence in our country among foreign investors.”
Merlin Entertainments Midway Managing Director Glenn Earlam said: “We are delighted to be opening a Madame Tussauds in Bangkok which is such an exciting and vibrant location which gives us so much scope to create what I believe will be one of our best attractions ever. It will be a unique place, in a unique City.’
2. Ice Planet - the World Class Olympic standard & biggest rink in downtown Bangkok
Mr. Steven (Tanakorn) Kalayanamit, CEO of Ice Planet (Thailand) Company Limited reveals: “Our company has decided to invest over Baht 180 million in building a 2,000-sq.m. ice skating rink in the heart of Bangkok on the 8th floor of Siam Discovery with the goal of elevating the sport of ice skating in Thailand to international standards. This state-of-the-art rink will incorporate an array of cutting-edge technologies, including producing ice to the exacting Olympic standards, making the rink suitable for international competitions. We also plan to open Thailand’s first figure skating academy staffed by professional coaches from the USA, including a team member of the world famous “Disney On Ice”. Moreover, Ice Planet will coordinate with international and regional organizations and associations to quickly establish itself as the venue for international figure skating competitions and major tournaments.”
“In addition to its unsurpassed quality, Ice Planet is fantastically designed. Among its standout features are the way it modernizes Ice Skating. It will give a new experience to Ice Skating whether you are new or experienced with Ice Skating. The rink can also be transformed into a venue for hip events and cool parties.”
“Ice skating is making a great comeback in popularity all over the world these days, especially among youngsters who love the physical challenge and where they can also be expressive of their skills and imagination. Ice Planet target demographics extends from youngsters to career individuals seeking after work exercise and relaxation, and primarily family crowds to enjoy quality fun time with loved ones. Construction will begin in April this year and Ice Planet is expected to open in October 2010, just in time for the Thai mid-year semester break. We expect it to serve 1,000 ice-skaters on weekdays and 2,000 on weekends.”
3. Multi-Purpose Hall: the exclusive, premium venue in the heart of Bangkok
Another high-impact feature of the renovation of Siam Discovery is the Baht 50 million multi-purpose exhibition hall by Siam Piwat’s own investment covering a floor space of 1,500 square meters on floor 7th which will be managed by Royal Paragon Enterprise Company Limited.
Mr. Arun Teng, General Manager of Royal Paragon Enterprise Company Limited, explains: “The new Multi-purpose Hall aims to fill a gap in downtown Bangkok MICE facilities while also offering a different kind of venue for various functions. Event organizers are always looking for new spaces with fresh concepts and that’s where this Multi-purpose Hall comes in. Our target is organizers seeking to stage events with a unique style, combined with just the right amount of space, excellent functionality, design and all at a prime central location with excellent transportation links.”
“The design of the hall is sleek and stylish with a grand foyer and large windows accented by anelement of natural light during the day and stunning city views by night. The facility also features an outdoor terrace, allowing the venue to cater for events indoor and outdoor simultaneously.”
“Our prime targets are mostly organizers of lifestyle events such as fashion shows, art exhibitions, premium product launches, press conferences, international seminars & conferences, exclusive concerts and meet-and-greet activities with local and international artists.”
“From the success of Royal Paragon Hall, Siam Discovery’s Multi-purpose Hall will be managed and operated by the same team whose experience and growth continues to prosper to new heights. The new exhibition facility on 6A at Siam Discovery will be positioned as an exclusive venue and is expected to be ready for service in October 2010.”
Besides the thrill of three such promising new world-class anchor tenants, Siam Discovery is also adding to its star-studded retail mix in the manner of business as usual. Raising the share of F&B outlets to 20% to cater to the needs of the expected surge of heavy traffic of tourists and family target groups, Siam Discovery will be welcoming the first free-standing Marc by Marc Jacobs in Bangkok, the one and only flagship store. And last but not least, Loft the speciality store from Japan too is announcing an expansion plan and revealing a new total floor area of 2,000 square meters. The new Loft store is set to occupy floors 4 & 5 of Siam Discovery.
“Rediscovering” Siam Discovery as the new landmark on Bangkok’s ultimate shopping street.
Siam Piwat will be spending as much as Baht 300 million on the changes and decoration of the interior and the new façade feature, designs of which will be developed to strengthen Siam Discovery’s refreshed positioning and that of the new world-class anchor magnet. The 6th – 8th floors of Siam Discovery, measuring 8,000 square meters, will be revamped under the personal supervision of Mr. Duangrit Bunnag, Managing Director of Duangrit Boonnag Architects Limited.
At street level, the shopping center will be featuring a magnificent 8-floor installation of Thailand’s first ETFE-clad façade designed by Design 103 International Company Limited. ETFE is a material originally developed for use in the space industry by a German company “Vector Foiltec.” The plastic-like material does not degrade under Ultra-Violet light or atmospheric pollution, and at the same time, is anti-adhesive which means that it is self-cleaning under the action of rain. Architecturally, the material is outstanding for being unusually light-weight and has the exceptional light transmission properties, allowing designers to optimize the aesthetic and environmental performance of the building, creating structures of unusual lightness and elegance. Leading architects and engineers around the world have adopted ETFE as the choice for high profile mega projects ranging from the Olympic venue Beijing Water Cube to public spaces such as the Alliance Arena in Munich, Germany, to the BMW Welt. As the first application of ETFE in Thailand, Design 103’s piece is a sophisticated abstract of adjoining prism shapes equipped with a changing LED lighting embedded each structure enabling the structure to shift into a glowing wondrous landmark at night. With this new modern take to the façade, Siam Discovery is declaring itself as the new and brilliant Landmark of Bangkok in the heart of Thailand’s ultimate shopping destination.
Siam Discovery targets worldwide tourists and expands its customer base among Thai families
With its powerful combination of world class attractions, flagship stores and complete range of services, Siam Discovery is confident that it will be able to attract shoppers of all demographics and increase its customer base, particularly international tourists seeking to experience the celebrity of Madame Tussauds Bangkok, A-B family consumers seeking fashion and lifestyle brands, and youngsters seeking a fun time on ice.
Once the physical renovation is completed and the leasing plan materializes as planned, Siam Discovery is expecting a rise in footfall through the Shopping Complex by 20,000 or a 25% increase, comprised of 60% Thais and 40% foreign customers.
“This Grand renovation of Siam Discovery due to be completed in October 2010, will endorse Siam Discovery as the ultimate location allianced by World Class retail and Entertainment operators to propel Thailand’s economy towards higher level of prominence in Asia and the world,” concluded Mrs. Chadatip.
Mrs. Chadatip Chutrakul, CEO of Siam Piwat reveals : “Siam Discovery was the first and the original lifestyle shopping & entertainment complex in Thailand. When it opened in 1997, the shopping complex offered a fresh mix of retail and services unrivalled with other shopping centers, encompassing a variety of exceptionally cutting-edge and unique brands both Thai and international which were not offered in the other shopping centers. Siam Discovery indulged the new generation of sophisticated urbanites with a strong streak of individuality and right from the start, Siam Discovery has always maintained its positioning as one of Bangkok’s most popular shopping destinations for locals and tourists alike.”
“Siam Discovery’s policy has always aimed to offer its customers the latest global trends and introduce them to new remarkable discoveries, whether in retail, lifestyle or entertainment. The Company therefore has been planning since the beginning of 2009 to give Siam Discovery a major renovation in order to be completed when the global economy is showing positive signs. Our plan includes not only the exterior façade and interior but also the signing of 3 new anchor tenants on floors 6-8 of Siam Discovery. The 3 World Class Magnets cover a total floor area of more than 8,000 square meters, establishing itself as a world-class entertainment destination,” added Mrs. Chadatip.
Siam Discovery presents 3 one-of-a-kind world-class magnets
Siam Discovery’s grand renovation includes the installation of three world-class magnet enterprises on its 6th to 8th floors, namely:
1. Madame Tussauds Bangkok, the original famous wax works tourist attraction debut in Southeast Asia
Merlin Entertainments, the world’s second largest visitor attraction operator, is investing Baht 500-million (US$15m) to create “Madame Tussauds Bangkok” on the 6th – 7th floors of Siam Discovery, covering an area over 3,000 sq.m. This will be the tenth Madame Tussauds in the world and the third in Asia, after Shanghai and Hong Kong. The ultimate celebrity experience and unlike any other tourist attraction with its amazingly lifelike wax figures displayed in a highly entertaining interactive style, Madame Tussauds Bangkok is expected to be the hottest new place to visit in the City. Most importantly, with no bars, ropes or barriers around the figures visitors will really feel like they are standing beside, or being photographed with their heroes.
The accent at “Madame Tussauds Bangkok” is on contemporary elegance, fun and inter-active entertainment for every visitor. At any given time it will house over 70 wax figures of international celebrities, from HRH Queen Elizabeth II, Barack Obama and Beyonce Knowles, along with such famous Thai figures such as Pancake - Khemanit Jamikorn and Sombat Metanee Building will start in March and Madame Tussauds Bangkok is expected to open in September 2010.
Mrs. Chadatip says : “We are absolutely thrilled to have been selected by a multi-national company such as Merlin Entertainments for this very considerable foreign investment which will bring over Baht 500 million to Thailand. The venture will also enable more Thais to find employment with real prospects, and significantly contribute to the country’s economic growth and tourism development. Not least, it will help ease liquidity in the Thai economy and reinforce the strength of Bangkok as a tourist destination and as well as the confidence in our country among foreign investors.”
Merlin Entertainments Midway Managing Director Glenn Earlam said: “We are delighted to be opening a Madame Tussauds in Bangkok which is such an exciting and vibrant location which gives us so much scope to create what I believe will be one of our best attractions ever. It will be a unique place, in a unique City.’
2. Ice Planet - the World Class Olympic standard & biggest rink in downtown Bangkok
Mr. Steven (Tanakorn) Kalayanamit, CEO of Ice Planet (Thailand) Company Limited reveals: “Our company has decided to invest over Baht 180 million in building a 2,000-sq.m. ice skating rink in the heart of Bangkok on the 8th floor of Siam Discovery with the goal of elevating the sport of ice skating in Thailand to international standards. This state-of-the-art rink will incorporate an array of cutting-edge technologies, including producing ice to the exacting Olympic standards, making the rink suitable for international competitions. We also plan to open Thailand’s first figure skating academy staffed by professional coaches from the USA, including a team member of the world famous “Disney On Ice”. Moreover, Ice Planet will coordinate with international and regional organizations and associations to quickly establish itself as the venue for international figure skating competitions and major tournaments.”
“In addition to its unsurpassed quality, Ice Planet is fantastically designed. Among its standout features are the way it modernizes Ice Skating. It will give a new experience to Ice Skating whether you are new or experienced with Ice Skating. The rink can also be transformed into a venue for hip events and cool parties.”
“Ice skating is making a great comeback in popularity all over the world these days, especially among youngsters who love the physical challenge and where they can also be expressive of their skills and imagination. Ice Planet target demographics extends from youngsters to career individuals seeking after work exercise and relaxation, and primarily family crowds to enjoy quality fun time with loved ones. Construction will begin in April this year and Ice Planet is expected to open in October 2010, just in time for the Thai mid-year semester break. We expect it to serve 1,000 ice-skaters on weekdays and 2,000 on weekends.”
3. Multi-Purpose Hall: the exclusive, premium venue in the heart of Bangkok
Another high-impact feature of the renovation of Siam Discovery is the Baht 50 million multi-purpose exhibition hall by Siam Piwat’s own investment covering a floor space of 1,500 square meters on floor 7th which will be managed by Royal Paragon Enterprise Company Limited.
Mr. Arun Teng, General Manager of Royal Paragon Enterprise Company Limited, explains: “The new Multi-purpose Hall aims to fill a gap in downtown Bangkok MICE facilities while also offering a different kind of venue for various functions. Event organizers are always looking for new spaces with fresh concepts and that’s where this Multi-purpose Hall comes in. Our target is organizers seeking to stage events with a unique style, combined with just the right amount of space, excellent functionality, design and all at a prime central location with excellent transportation links.”
“The design of the hall is sleek and stylish with a grand foyer and large windows accented by anelement of natural light during the day and stunning city views by night. The facility also features an outdoor terrace, allowing the venue to cater for events indoor and outdoor simultaneously.”
“Our prime targets are mostly organizers of lifestyle events such as fashion shows, art exhibitions, premium product launches, press conferences, international seminars & conferences, exclusive concerts and meet-and-greet activities with local and international artists.”
“From the success of Royal Paragon Hall, Siam Discovery’s Multi-purpose Hall will be managed and operated by the same team whose experience and growth continues to prosper to new heights. The new exhibition facility on 6A at Siam Discovery will be positioned as an exclusive venue and is expected to be ready for service in October 2010.”
Besides the thrill of three such promising new world-class anchor tenants, Siam Discovery is also adding to its star-studded retail mix in the manner of business as usual. Raising the share of F&B outlets to 20% to cater to the needs of the expected surge of heavy traffic of tourists and family target groups, Siam Discovery will be welcoming the first free-standing Marc by Marc Jacobs in Bangkok, the one and only flagship store. And last but not least, Loft the speciality store from Japan too is announcing an expansion plan and revealing a new total floor area of 2,000 square meters. The new Loft store is set to occupy floors 4 & 5 of Siam Discovery.
“Rediscovering” Siam Discovery as the new landmark on Bangkok’s ultimate shopping street.
Siam Piwat will be spending as much as Baht 300 million on the changes and decoration of the interior and the new façade feature, designs of which will be developed to strengthen Siam Discovery’s refreshed positioning and that of the new world-class anchor magnet. The 6th – 8th floors of Siam Discovery, measuring 8,000 square meters, will be revamped under the personal supervision of Mr. Duangrit Bunnag, Managing Director of Duangrit Boonnag Architects Limited.
At street level, the shopping center will be featuring a magnificent 8-floor installation of Thailand’s first ETFE-clad façade designed by Design 103 International Company Limited. ETFE is a material originally developed for use in the space industry by a German company “Vector Foiltec.” The plastic-like material does not degrade under Ultra-Violet light or atmospheric pollution, and at the same time, is anti-adhesive which means that it is self-cleaning under the action of rain. Architecturally, the material is outstanding for being unusually light-weight and has the exceptional light transmission properties, allowing designers to optimize the aesthetic and environmental performance of the building, creating structures of unusual lightness and elegance. Leading architects and engineers around the world have adopted ETFE as the choice for high profile mega projects ranging from the Olympic venue Beijing Water Cube to public spaces such as the Alliance Arena in Munich, Germany, to the BMW Welt. As the first application of ETFE in Thailand, Design 103’s piece is a sophisticated abstract of adjoining prism shapes equipped with a changing LED lighting embedded each structure enabling the structure to shift into a glowing wondrous landmark at night. With this new modern take to the façade, Siam Discovery is declaring itself as the new and brilliant Landmark of Bangkok in the heart of Thailand’s ultimate shopping destination.
Siam Discovery targets worldwide tourists and expands its customer base among Thai families
With its powerful combination of world class attractions, flagship stores and complete range of services, Siam Discovery is confident that it will be able to attract shoppers of all demographics and increase its customer base, particularly international tourists seeking to experience the celebrity of Madame Tussauds Bangkok, A-B family consumers seeking fashion and lifestyle brands, and youngsters seeking a fun time on ice.
Once the physical renovation is completed and the leasing plan materializes as planned, Siam Discovery is expecting a rise in footfall through the Shopping Complex by 20,000 or a 25% increase, comprised of 60% Thais and 40% foreign customers.
“This Grand renovation of Siam Discovery due to be completed in October 2010, will endorse Siam Discovery as the ultimate location allianced by World Class retail and Entertainment operators to propel Thailand’s economy towards higher level of prominence in Asia and the world,” concluded Mrs. Chadatip.
Saturday, January 2, 2010
Asian Countries Agree to Pursue Treaty on Dry Ports to Promote Regional Integration
Transport Ministers Forum concludes first session at ESCAP in Bangkok
Transport ministers from across Asia have agreed to work on a treaty to promote the development of dry ports – inland transport and logistics hubs – to spur intraregional trade and growth.
The agreement came at the end of the first session of the Forum of Asian Ministers of Transport, which concluded today at the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in Bangkok.
In the Bangkok Declaration on Transport Development in Asia, the ministers agreed to develop an intergovernmental agreement on dry ports to provide connectivity and integration of the Asian Highway and the Trans-Asian Railway networks, creating an international integrated intermodal transport and logistics system.
Under the auspices of ESCAP, countries in the region have already adopted two intergovernmental agreements - on the Asian Highway and the Trans-Asian Railway networks - to promote the development and standardization of 141,000 kilometers of roadways and 114,000 kilometers of railways, linking the continent with Europe and serving as arteries for international trade, especially for landlocked countries in the region.
Dry ports will play an important role in integrating modes of transport, reducing border crossing and transit delays, facilitating the use of energy-efficient and lower emission means of transport, and creating new clusters of economic growth and job creation in local areas.
The first session of the Forum brought together 27 countries in Asia. In his opening message on Monday, UN Secretary-General Ban Ki-moon stated that “enhanced regional connectivity is especially important” in addressing development issues.
In her opening address, Noeleen Heyzer, UN Under-Secretary-General and Executive Secretary of ESCAP, spoke of the vital role of the transport sector in providing physical connectivity required for promoting domestic demand and intraregional trade as new sources of growth.
“The economic crisis has shown that relying mainly on exports to western markets comes with inherent risks. Our region will need to diversify the drivers of growth. This must include strategies for promoting increased intra-regional trade and domestic consumption,” said Dr. Heyzer.
The Forum was created by member governments of ESCAP at their annual meeting last April. During the week-long session, delegates discussed issues pertaining to transport development in the region, including the implementation of the Busan Declaration on Transport Development in Asia and the Pacific, and the Regional Action Programme for Transport Development in Asia and the Pacific.
Transport ministers from across Asia have agreed to work on a treaty to promote the development of dry ports – inland transport and logistics hubs – to spur intraregional trade and growth.
The agreement came at the end of the first session of the Forum of Asian Ministers of Transport, which concluded today at the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in Bangkok.
In the Bangkok Declaration on Transport Development in Asia, the ministers agreed to develop an intergovernmental agreement on dry ports to provide connectivity and integration of the Asian Highway and the Trans-Asian Railway networks, creating an international integrated intermodal transport and logistics system.
Under the auspices of ESCAP, countries in the region have already adopted two intergovernmental agreements - on the Asian Highway and the Trans-Asian Railway networks - to promote the development and standardization of 141,000 kilometers of roadways and 114,000 kilometers of railways, linking the continent with Europe and serving as arteries for international trade, especially for landlocked countries in the region.
Dry ports will play an important role in integrating modes of transport, reducing border crossing and transit delays, facilitating the use of energy-efficient and lower emission means of transport, and creating new clusters of economic growth and job creation in local areas.
The first session of the Forum brought together 27 countries in Asia. In his opening message on Monday, UN Secretary-General Ban Ki-moon stated that “enhanced regional connectivity is especially important” in addressing development issues.
In her opening address, Noeleen Heyzer, UN Under-Secretary-General and Executive Secretary of ESCAP, spoke of the vital role of the transport sector in providing physical connectivity required for promoting domestic demand and intraregional trade as new sources of growth.
“The economic crisis has shown that relying mainly on exports to western markets comes with inherent risks. Our region will need to diversify the drivers of growth. This must include strategies for promoting increased intra-regional trade and domestic consumption,” said Dr. Heyzer.
The Forum was created by member governments of ESCAP at their annual meeting last April. During the week-long session, delegates discussed issues pertaining to transport development in the region, including the implementation of the Busan Declaration on Transport Development in Asia and the Pacific, and the Regional Action Programme for Transport Development in Asia and the Pacific.
Tuesday, December 15, 2009
Google is first to offer seamless integration of transit and traffic information of Bangkok on Google Maps to help travelers get around faster and eas
Partnering with all major Bangkok transport agencies, Google is the only organization that provides walking and driving directions, public transit route planning and traffic information in one easy-to-use platform
Bangkok, November 25, 2009 - What do 1.7 million daily public transit riders per day. Combined total of BTS, MRT and BMTA passengers per day. And over 5 million motorists in Bangkok have in common? They can now use Google Maps to plan their trips around the city through a unique collaboration between Google and the following land transportation organizations in Bangkok: Office of Transport and Traffic Policy and Planning (OTP), Bangkok Mass Transit Authority (BMTA), Bangkok Mass Transit System Public Company Limited (BTS) and Bangkok Metro Public Company Limited, Metro Operator (MRT). Mapping, directions and route planning for the various forms of land transportation in Bangkok - from our own two feet to buses, trains and cars - are now all available for free in Thai on Google Maps. Transit and traffic information are also available on mobile devices with Google Maps for Mobile, so commuters and motorists can check the latest updates on their cellphones to make route changes on-the-go.
Today at Siam Square, overlooking one of Bangkok's busiest transportation hubs, Wisit Wongsaroj, Head of the office of Information Technology, Bangkok Mass Transit Authority (BMTA), Kobkul Mothana, Director-technology information, Office of Transport and Traffic Policy and Planning (OTP), Arkom Baramichai, Chief Administrative Officer, Bangkok Mass Transit System Public Company Limited (BTS), Witoon Hatairatana Marketing and Commercial Development Division Director, Bangkok Metro Public Company Limited, Metro Operator (MRT), Andrew McGlinchey, Head of Product Management, Google Southeast Asia, and Pornthip Kongchun, Thailand Marketing Head, Google Southeast Asia, launched this new service, which can be accessed through Google Maps at maps.google.co.th/transport.
Under this collaboration, Google is the first organization to officially receive bus/train schedules, locations and routes from the BMTA, BTS and MRT. Google also worked with the OTP to integrate live traffic data into the popular and familiar user interface of Google Maps. None of the local partners are incurring any costs for the partnership with Google.
Whether a private car owner switching to go by bus or BTS or MRT, or a public transit rider choosing to drive or take a taxi, or even one of 10 million international visitors Office of Tourism Development, Thailand who land in Bangkok each year finding their way around, the Bangkok public can now use Google Maps to plan their routes and make an informed decision on the quickest and most convenient way to reach their destinations. Each time a Google Maps user requests driving directions, the user will also be given the opportunity to plan the same trip using public transit which is very useful when the traffic route is highlighted as red or heavy congestion.
"Each day, millions of commuters travel the streets of Bangkok using BMTA buses. With the launch of transit information on Google Maps for Bangkok with step-by-step instructions in Thai, it is now even easier to go green and take public transportation around the city. We are delighted to be collaborating with Google and our other local partners to provide residents and visitors in Bangkok a comprehensive, easy-to-use trip planner that links BMTA buses to the rest of the city's other public transit options," said Wisit Wongsaroj, Head of the office of Information Technology, Bangkok Mass Transit Authority (BMTA).
"Our office is excited to have worked closely with Google to make it easy for Bangkok motorists to access current traffic conditions on their computers or mobile phones," said Kobkul Mothana, Director-technology information, Office of Transport and Traffic Policy and Planning (OTP). "In accordance with our mission to ensure an efficient transportation system in Thailand, we believe that the traffic layer on Google Maps will help drivers in Bangkok save on commuting time and expenses by letting them plan their travel routes in advance or change them on-the-go to avoid congested areas."
"This year marks our 10th anniversary of operations in Bangkok and we are pleased to be joining Google and our other transportation colleagues in announcing the availability of transit information on Google Maps," said Arkom Baramichai, Chief Administrative Officer, Bangkok Mass Transit System Public Company Limited (BTS). "The train routes and schedules from BTS have been integrated into the transit information on Google Maps to better inform Bangkok commuters about which mode of transportation to use on any given day. We hope that everyone in Bangkok uses the tool in order to make their daily commutes easier."
"Our mission has always been to provide mass transit services to the public that are safe, fast, reliable and punctual. This transit feature integrates MRT data on Google Maps to enhance commuters' experience by making it easy for them to plan their trips across multiple forms of public transit. Whether it's trying to get to the Thai Cultural Center on Rajadapisek road or grabbing a bite to eat at Japanese restaurant near Silom Station, Google Maps will help commuters get to their destinations as quickly as possible," said Witoon Hatairatana Marketing and Commercial Development Division Director, Bangkok Metro Public Company Limited, Metro Operator (MRT).
"Google's goal is to bring accurate, comprehensive land transport information from OTP, BMTA, BTS and MRT together on a global mapping platform for easy access, search and use on PCs or mobile phones by millions of Bangkok residents and Google Maps users around the world," said Pornthip. “Google is currently the only organization that has combined all the forms of land transportation in Bangkok into one easy-to-use Thai interface. We're very excited to be launching this service today in Bangkok and we hope that residents and visitors to the city, whether they are traveling by foot, bus, train or car will find it helpful in getting to their destinations."
Google Maps for Mobile offers transit, traffic and driving information on-the-go
Google Maps for Mobile extends the dynamic search capabilities of Google Maps to mobile phones, allowing anyone in Thailand to locate addresses and navigate maps while on the go. Google Maps for Mobile also has the My Location feature, which shows your location on the map even if your phone does not have GPS, and lets you look up business listings in relation to where you are (e.g. type "restaurants" into the map search box and it will display nearby restaurants).
When in Bangkok, users can now also use the traffic and transit features in Google Maps for Mobile to plan their travel while on the move. Google Maps for Mobile is free to download on your phone at http://m.google.co.th/maps. It also comes pre-installed on many web-enabled handsets. The services on Google Maps for Mobile are free; however, standard mobile data fees charged by the telecoms carriers will apply.
About Office of Transport and Traffic Policy and Planning (OTP)
The Office of Transport and Traffic Policy and Planning (OTP), Ministry of Transport, is responsible for recommending policies and formulating transport, traffic and transport safety plans in line with master plans for policy integration purposes
About Bangkok Mass Transit Authority (BMTA)
Bangkok Mass Transit Authority (BMTA) was established by a Royal Decree Establishing the Bangkok Mass Transit Authority, B.E. 2519. Beginning operations the following October, the BMTA undertook to provide bus service to commuters in six provinces, i.e. Bangkok, Nonthaburi, Nakhon Pathom, Pathum Thani, Samut Sakhon and Samut Prakan.
About Bangkok Mass Transit System Public Company Limited (BTS)
BTSC operates one of the safest and most punctual mass transit systems in the region, and plays a crucial role in helping to ease Bangkok’s notorious traffic jams while providing an environmentally friendly transport alternative for Bangkok’s commuters.
About Bangkok Metro Public Company Limited, Metro Operator (MRT)
MRT: safe, fast, convenience, trustworthy, and punctual
About Google Inc.
Google's innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google today is a top web property in all major global markets. Google's targeted advertising program provides businesses of all sizes with measurable results, while enhancing the overall web experience for users. Google is headquartered in Silicon Valley with offices throughout the Americas, Europe and Asia. For more information, please visit www.google.co.th.
Google and Google AdWords are registered trademarks of Google Inc. All other company and product names may be trademarks of the respective companies with which they are associated.
Bangkok, November 25, 2009 - What do 1.7 million daily public transit riders per day. Combined total of BTS, MRT and BMTA passengers per day. And over 5 million motorists in Bangkok have in common? They can now use Google Maps to plan their trips around the city through a unique collaboration between Google and the following land transportation organizations in Bangkok: Office of Transport and Traffic Policy and Planning (OTP), Bangkok Mass Transit Authority (BMTA), Bangkok Mass Transit System Public Company Limited (BTS) and Bangkok Metro Public Company Limited, Metro Operator (MRT). Mapping, directions and route planning for the various forms of land transportation in Bangkok - from our own two feet to buses, trains and cars - are now all available for free in Thai on Google Maps. Transit and traffic information are also available on mobile devices with Google Maps for Mobile, so commuters and motorists can check the latest updates on their cellphones to make route changes on-the-go.
Today at Siam Square, overlooking one of Bangkok's busiest transportation hubs, Wisit Wongsaroj, Head of the office of Information Technology, Bangkok Mass Transit Authority (BMTA), Kobkul Mothana, Director-technology information, Office of Transport and Traffic Policy and Planning (OTP), Arkom Baramichai, Chief Administrative Officer, Bangkok Mass Transit System Public Company Limited (BTS), Witoon Hatairatana Marketing and Commercial Development Division Director, Bangkok Metro Public Company Limited, Metro Operator (MRT), Andrew McGlinchey, Head of Product Management, Google Southeast Asia, and Pornthip Kongchun, Thailand Marketing Head, Google Southeast Asia, launched this new service, which can be accessed through Google Maps at maps.google.co.th/transport.
Under this collaboration, Google is the first organization to officially receive bus/train schedules, locations and routes from the BMTA, BTS and MRT. Google also worked with the OTP to integrate live traffic data into the popular and familiar user interface of Google Maps. None of the local partners are incurring any costs for the partnership with Google.
Whether a private car owner switching to go by bus or BTS or MRT, or a public transit rider choosing to drive or take a taxi, or even one of 10 million international visitors Office of Tourism Development, Thailand who land in Bangkok each year finding their way around, the Bangkok public can now use Google Maps to plan their routes and make an informed decision on the quickest and most convenient way to reach their destinations. Each time a Google Maps user requests driving directions, the user will also be given the opportunity to plan the same trip using public transit which is very useful when the traffic route is highlighted as red or heavy congestion.
"Each day, millions of commuters travel the streets of Bangkok using BMTA buses. With the launch of transit information on Google Maps for Bangkok with step-by-step instructions in Thai, it is now even easier to go green and take public transportation around the city. We are delighted to be collaborating with Google and our other local partners to provide residents and visitors in Bangkok a comprehensive, easy-to-use trip planner that links BMTA buses to the rest of the city's other public transit options," said Wisit Wongsaroj, Head of the office of Information Technology, Bangkok Mass Transit Authority (BMTA).
"Our office is excited to have worked closely with Google to make it easy for Bangkok motorists to access current traffic conditions on their computers or mobile phones," said Kobkul Mothana, Director-technology information, Office of Transport and Traffic Policy and Planning (OTP). "In accordance with our mission to ensure an efficient transportation system in Thailand, we believe that the traffic layer on Google Maps will help drivers in Bangkok save on commuting time and expenses by letting them plan their travel routes in advance or change them on-the-go to avoid congested areas."
"This year marks our 10th anniversary of operations in Bangkok and we are pleased to be joining Google and our other transportation colleagues in announcing the availability of transit information on Google Maps," said Arkom Baramichai, Chief Administrative Officer, Bangkok Mass Transit System Public Company Limited (BTS). "The train routes and schedules from BTS have been integrated into the transit information on Google Maps to better inform Bangkok commuters about which mode of transportation to use on any given day. We hope that everyone in Bangkok uses the tool in order to make their daily commutes easier."
"Our mission has always been to provide mass transit services to the public that are safe, fast, reliable and punctual. This transit feature integrates MRT data on Google Maps to enhance commuters' experience by making it easy for them to plan their trips across multiple forms of public transit. Whether it's trying to get to the Thai Cultural Center on Rajadapisek road or grabbing a bite to eat at Japanese restaurant near Silom Station, Google Maps will help commuters get to their destinations as quickly as possible," said Witoon Hatairatana Marketing and Commercial Development Division Director, Bangkok Metro Public Company Limited, Metro Operator (MRT).
"Google's goal is to bring accurate, comprehensive land transport information from OTP, BMTA, BTS and MRT together on a global mapping platform for easy access, search and use on PCs or mobile phones by millions of Bangkok residents and Google Maps users around the world," said Pornthip. “Google is currently the only organization that has combined all the forms of land transportation in Bangkok into one easy-to-use Thai interface. We're very excited to be launching this service today in Bangkok and we hope that residents and visitors to the city, whether they are traveling by foot, bus, train or car will find it helpful in getting to their destinations."
Google Maps for Mobile offers transit, traffic and driving information on-the-go
Google Maps for Mobile extends the dynamic search capabilities of Google Maps to mobile phones, allowing anyone in Thailand to locate addresses and navigate maps while on the go. Google Maps for Mobile also has the My Location feature, which shows your location on the map even if your phone does not have GPS, and lets you look up business listings in relation to where you are (e.g. type "restaurants" into the map search box and it will display nearby restaurants).
When in Bangkok, users can now also use the traffic and transit features in Google Maps for Mobile to plan their travel while on the move. Google Maps for Mobile is free to download on your phone at http://m.google.co.th/maps. It also comes pre-installed on many web-enabled handsets. The services on Google Maps for Mobile are free; however, standard mobile data fees charged by the telecoms carriers will apply.
About Office of Transport and Traffic Policy and Planning (OTP)
The Office of Transport and Traffic Policy and Planning (OTP), Ministry of Transport, is responsible for recommending policies and formulating transport, traffic and transport safety plans in line with master plans for policy integration purposes
About Bangkok Mass Transit Authority (BMTA)
Bangkok Mass Transit Authority (BMTA) was established by a Royal Decree Establishing the Bangkok Mass Transit Authority, B.E. 2519. Beginning operations the following October, the BMTA undertook to provide bus service to commuters in six provinces, i.e. Bangkok, Nonthaburi, Nakhon Pathom, Pathum Thani, Samut Sakhon and Samut Prakan.
About Bangkok Mass Transit System Public Company Limited (BTS)
BTSC operates one of the safest and most punctual mass transit systems in the region, and plays a crucial role in helping to ease Bangkok’s notorious traffic jams while providing an environmentally friendly transport alternative for Bangkok’s commuters.
About Bangkok Metro Public Company Limited, Metro Operator (MRT)
MRT: safe, fast, convenience, trustworthy, and punctual
About Google Inc.
Google's innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google today is a top web property in all major global markets. Google's targeted advertising program provides businesses of all sizes with measurable results, while enhancing the overall web experience for users. Google is headquartered in Silicon Valley with offices throughout the Americas, Europe and Asia. For more information, please visit www.google.co.th.
Google and Google AdWords are registered trademarks of Google Inc. All other company and product names may be trademarks of the respective companies with which they are associated.
Friday, November 20, 2009
“North Park Place” unveils new mock up room Promotion injection on this 14-22 Nov’09
TCC Capital Land celebrates its brand-new mock up room of North Park Place, a luxurious condotel right close to Rajpruek Golf Course on Vibhavadi-Rangsit Road, by organizing “North Park Place’s Welcoming Party”. The chilled-out event will take place during 14-15 and 21-22 November 2009 at the Sales Office. Two special promotions will be offered to customers for their choice: Exclusive Fully Furnished Package and Right-to-Use Rajpruek Club. The project is aptly developed under its unique concept “The Exclusive Hideaway for Elite Society”.
Mr. Soammaphat Traisorat, CEO and MD of TCC Capital Land, disclosed that North Park Place’s new mock up room is now ready for customers to visit. The new show suite is built up in the project building itself. Impressively, it is finely adorned with eye-catching interiors and top-of-the range fittings. Visitors can experience real views in a relaxing and private atmosphere by enjoying the picturesque vista of greenery Rajpruek Golf Course.
“To celebrate the new mock up room and thank our customers expressing kind interest in North Park Place, the company is pleased to offer special promotions during the event period. Customers can choose one from the two options: Exclusive Fully Furnished Package or Right-to-Use Rajpruek Club which has the ultimate value of 2.7 million baht. Furthermore, customers will have fun with various relaxing activities, including Fish Spa with Dr.Fish from Turkey, Make-A-Bear Activity and Golf Clinic by TaylorMade.”, said Soammaphat.
The North Park Place project is located on a 3-rai site worth a combined 1.9 billion baht. The resort-style condominium comprises 130 units. Large sizes range from 112 to 283.5 square metres for 1-bedroom, 2-bedroom and 2-bedroom duplex layouts while penthouse will be sized at least 350.5 square metres. Price starts at 9.9 million baht for 1-bedroom. The construction will start in December 2007 and complete in the second quarter of 2010.
Specifically designed as a resort-style condominium, North Park Place is designed to harmonize between the surroundings and the luxurious usable area with focus on blending with the nature: wind, natural lighting and view. All units face the golf course and each has a large balcony for residents to enjoy the lush greenery and fresh air. The balcony and area in the unit can be connected to be a wide space for a party.
North Park Place is a luxurious condotel developed under the matchless concept “The Exclusive Hideaway for Elite Society”. It is remarkable for the location where residents can conveniently commute via 4 main artery roads: Vibhavadi-Rangsit, Ngamwongwan, Prachachuen and Chaeng Wattana Road. As to such basic amenities as shopping centers, sports club and leading universities, the site of the estate is very close to The Mall Ngamwongwan, IT Square, Villa Market, Big C, Tesco Lotus, Sports City, Kasetsart University, Dhurakijpundit University and Bangkok Government Complex on Chaeng Wattana Road. Last but not least, the project is designed to be like a summer residence in Bangkok, complemented with superior facilities, for instance private lift, swimming pool, golf course and Rajpruek Club.
To date, TCC Capital Land has officially launched 6 condominium projects with success - Athenee Residence on Wireless Road, Villa Rachakhru on Paholyothin Road and Villa Sathorn on Krungthonburi Road fully sold out; The Empire Place on Narathiwat Road, The Emporio Place on Sukhumvit Soi 24, Villa Rachatewi on Phayathai Road almost 100% sold. In the future, the company plans to launch 2 projects: North Park Place on Vibhavadi-Rangsit Road and The Royal Residence, the super luxurious detached-housing project on Kaset-Navamin Road.
Mr. Soammaphat Traisorat, CEO and MD of TCC Capital Land, disclosed that North Park Place’s new mock up room is now ready for customers to visit. The new show suite is built up in the project building itself. Impressively, it is finely adorned with eye-catching interiors and top-of-the range fittings. Visitors can experience real views in a relaxing and private atmosphere by enjoying the picturesque vista of greenery Rajpruek Golf Course.
“To celebrate the new mock up room and thank our customers expressing kind interest in North Park Place, the company is pleased to offer special promotions during the event period. Customers can choose one from the two options: Exclusive Fully Furnished Package or Right-to-Use Rajpruek Club which has the ultimate value of 2.7 million baht. Furthermore, customers will have fun with various relaxing activities, including Fish Spa with Dr.Fish from Turkey, Make-A-Bear Activity and Golf Clinic by TaylorMade.”, said Soammaphat.
The North Park Place project is located on a 3-rai site worth a combined 1.9 billion baht. The resort-style condominium comprises 130 units. Large sizes range from 112 to 283.5 square metres for 1-bedroom, 2-bedroom and 2-bedroom duplex layouts while penthouse will be sized at least 350.5 square metres. Price starts at 9.9 million baht for 1-bedroom. The construction will start in December 2007 and complete in the second quarter of 2010.
Specifically designed as a resort-style condominium, North Park Place is designed to harmonize between the surroundings and the luxurious usable area with focus on blending with the nature: wind, natural lighting and view. All units face the golf course and each has a large balcony for residents to enjoy the lush greenery and fresh air. The balcony and area in the unit can be connected to be a wide space for a party.
North Park Place is a luxurious condotel developed under the matchless concept “The Exclusive Hideaway for Elite Society”. It is remarkable for the location where residents can conveniently commute via 4 main artery roads: Vibhavadi-Rangsit, Ngamwongwan, Prachachuen and Chaeng Wattana Road. As to such basic amenities as shopping centers, sports club and leading universities, the site of the estate is very close to The Mall Ngamwongwan, IT Square, Villa Market, Big C, Tesco Lotus, Sports City, Kasetsart University, Dhurakijpundit University and Bangkok Government Complex on Chaeng Wattana Road. Last but not least, the project is designed to be like a summer residence in Bangkok, complemented with superior facilities, for instance private lift, swimming pool, golf course and Rajpruek Club.
To date, TCC Capital Land has officially launched 6 condominium projects with success - Athenee Residence on Wireless Road, Villa Rachakhru on Paholyothin Road and Villa Sathorn on Krungthonburi Road fully sold out; The Empire Place on Narathiwat Road, The Emporio Place on Sukhumvit Soi 24, Villa Rachatewi on Phayathai Road almost 100% sold. In the future, the company plans to launch 2 projects: North Park Place on Vibhavadi-Rangsit Road and The Royal Residence, the super luxurious detached-housing project on Kaset-Navamin Road.
Friday, September 25, 2009
MRTA backs rail arbitration
The Mass Rapid Transit Authority is asking the cabinet to accept arbitration in disputes involving its Purple Line electric railway project, to help secure financing.
The creditor, Japan International Cooperation Agency (Jica), wants recourse to arbitration in the event of a dispute.
But in a July 28 decision, the cabinet decided to exclude the arbitration option.
MRTA chairman Supoj Saplorm met Transport Minister Sohpon Zarum yesterday to discuss the cabinet's decision to exclude the option of an arbitration committee to resolve any dispute involving the Purple Line which will link Bang Sue and Bang Yai.
Mr Supoj asked the minister to try to convince the cabinet next Tuesday to restore the arbitration condition in the 50 billion baht electric railway project,because without the condition Jica would not finance the work.
An arbitration committee would consist of a representative of the government,a representative of its contractor and a third member acceptable to the government and the contractor.
Mr Sohpon said arbitration was an internationally recognised mechanism to speed up the process of dispute resolution which otherwise could become bogged down in court.
However, the cabinet decided to exclude arbitration from governmentprivate projects because the mechanism had failed in the past to benefit the state.
"Arbitration is an international principle," the minister said.
"It is applied overseas without a problem but it always causes problems in our country and the government is at a disadvantage.
"I know well what is going on but cannot elaborate. The problems rest with the people who implement it. As there are problems, the government resolved to exclude it and ordered compliance with Thai law in the event of a dispute."
MRTA deputy governor Chukiat Photayanuwat said Jica believed the contracts for the Purple Line project were international agreements and should include the arbitration option.
MRTA chairman Supoj said with the arbitration issue unsettled, work on the Purple Line could not start even though the MRTA had signed one of three contracts for the project.
The creditor, Japan International Cooperation Agency (Jica), wants recourse to arbitration in the event of a dispute.
But in a July 28 decision, the cabinet decided to exclude the arbitration option.
MRTA chairman Supoj Saplorm met Transport Minister Sohpon Zarum yesterday to discuss the cabinet's decision to exclude the option of an arbitration committee to resolve any dispute involving the Purple Line which will link Bang Sue and Bang Yai.
Mr Supoj asked the minister to try to convince the cabinet next Tuesday to restore the arbitration condition in the 50 billion baht electric railway project,because without the condition Jica would not finance the work.
An arbitration committee would consist of a representative of the government,a representative of its contractor and a third member acceptable to the government and the contractor.
Mr Sohpon said arbitration was an internationally recognised mechanism to speed up the process of dispute resolution which otherwise could become bogged down in court.
However, the cabinet decided to exclude arbitration from governmentprivate projects because the mechanism had failed in the past to benefit the state.
"Arbitration is an international principle," the minister said.
"It is applied overseas without a problem but it always causes problems in our country and the government is at a disadvantage.
"I know well what is going on but cannot elaborate. The problems rest with the people who implement it. As there are problems, the government resolved to exclude it and ordered compliance with Thai law in the event of a dispute."
MRTA deputy governor Chukiat Photayanuwat said Jica believed the contracts for the Purple Line project were international agreements and should include the arbitration option.
MRTA chairman Supoj said with the arbitration issue unsettled, work on the Purple Line could not start even though the MRTA had signed one of three contracts for the project.
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