Miyazato out of Singapore tourney after car crash

Ai Miyazato of Japan pulled out of the HSBC Women’s Champions after being injured in a five-car pile-up in Bangkok. — AFP

SINGAPORE: Former winner Ai Miyazato pulled out of the HSBC Women’s Champions in Singapore yesterday as she battles whiplash injuries from a car crash which also left American star Paula Creamer struggling to recover.

The Japanese world No. 9 said she had stiffness in her neck, back and shoulders after Sunday’s five-car pile-up in Bangkok as the players were en route to the airport following the Honda LPGA Thailand.

“I still have some stiffness in my neck, shoulder, and back area but it is also a precautionary measure so as not to risk further injury this early in the season,” the 2010 champion said in a statement, adding that she was “very disappointed”.

“I now plan to return to Japan to see my trainer for a few days.”

Creamer also cut short her appearance in Wednesday’s pro-am to seek extra treatment for similar injuries. But the American, who earlier said it was “pretty amazing how we walked away”, tweeted that she hoped to tee-off on Thursday (today).

World No. 1 Tseng Yani heads a field featuring most of the globe’s best players at the US$1.4mil event, considered the most prestigious women’s golf tournament in Asia.

The “Pride of Taiwan”, winless for nearly a year, has started the season with back-to-back top-three finishes, and she insisted staying at number one was not her main concern.

“World No. 1 is not as important as before now,” said the 24-year-old.

“I’ve already reached there and I’ve been there before. I’m still here, but I just want to enjoy myself more. Because I know if I’m not looking at the result, I just want to play the golf and enjoy every swing and enjoy every tournament.”

Yani admitted she had burdened herself with “too much expectation” last season when a run of missed cuts, which contrasted with her seven titles in 2011, left her struggling emotionally.

“I think I put too much expectation on myself. I think people, the fans and the media, they give lots of pressure. You know, if I don’t finish top 10, I’m in trouble, like ‘What’s wrong with Yani?’.”

Yani now has a slim 1.35 average points lead over South Korea’s Choi Na-yeon, who will also tee it up today on Sentosa, a wealthy resort island in tropical Singapore.

Missing from the field is 25th-ranked New Zealand amateur Lydia Ko, 15, who has become the most talked-about player on tour after winning last year’s Canadian Women’s Open and coming close at the season-opener in Australia.

Thailand’s Ariya Jutanugarn, 17, will hope to make up for her heart-breaking triple bogey on the final hole which cost her victory and left her in tears at last week’s event in Pattaya.

Former teen prodigy Michelle Wie, currently ranked 73rd and playing on a sponsor’s invite, and defending champion Angela Stanford will also contest a tournament whose other previous winners include Lorena Ochoa and Karrie Webb. — AFP

Miyazato out of Singapore tourney after car crash

SINGAPORE PRESS HOLDINGS LIMITED : Inaugural Myanmar Hospitality and ... - 4

Yangon, 27 February 2013 - Under the patronage of the Ministry of Hotels and Tourism, Sphere Conferences and Myanmar Tourism Federation today launched the country’s first hospitality and tourism conference – the Myanmar Hospitality and Tourism Conference 2013. This two-day conference is held at the Traders Hotel in Yangon from 27 to 28 February 2013. 

Sphere Conferences is the conference arm of Singapore Press Holdings, the country’s leading multimedia group which publishes newspapers such as The Straits Times, its flagship English-language newspaper and one of the region’s oldest and most established newspapers.

The Myanmar Hospitality and Tourism Conference 2013 is positioned as the gateway for property developers, operators and owners of hospitality properties, financiers and investors to explore, evaluate and expand Myanmar’s potential as a travel destination. The Myanmar government shared its tourism master plan, detailing a suite of proposals to boost the tourism sector and showcase the country’s potential projects and investment opportunities to position itself as a major tourist destination in Asia.

There were 300 delegates present at the conference to learn about the opportunities available in Asia’s last frontier, providing the stage for domestic and international hotels and tourism investors to convene and map the future of the Myanmar’s tourism industry. Companies represented include Air Kanbawza, Hotel Ace, CB Bank, Centara International Management, Hilton Worldwide, Keppel Land, Meritus Hotels Resorts, MasterCard Worldwide, Myanmar Hotels International, Orient Express, Small Luxury Hotels of the World, and Starwood Asia Pacific.

His Excellency U Htay Aung, Union Minister for Hotels and Tourism, Ministry of Hotels and Tourism, was the event’s Guest-of-Honour. 

Following the official opening ceremony, the conference started with Dr Paul Rogers, Team Leader of the Myanmar Tourism Master Plan Project, giving a keynote presentation on the country’s developments of its tourism masterplan.

Delegates at this two-day conference also gained first-hand information from the Myanmar Tourism Federation on the hotel investment zones in Myanmar. Ms Daw Cho Cho Win, Deputy Director General of the Myanmar Investment Commission, explained the key laws and regulations governing the hospitality and tourism investments. There was also a destination-focused discussion group to identify different issues and challenges as well as solutions and opportunities that will aid keen investors in entering into Myanmar. 

His Excellency U Htay Aung, Union Minister for Hotels and Tourism, Ministry of Hotels and Tourism, said: “With diverse cultures and history, Myanmar definitely has a lot to offer to the international visitors. We have reached a milestone of 1 million visitors in 2012 and expected to attract a further 30% more in the coming year. As of 2012, of the 787 hotels in Myanmar, 23 of them are of five and four stars status. . To meet the demand of increasing tourist arrivals, we are developing and upgrading our infrastructure and tourism facilities.”

U Yan Win, Chairman of the Myanmar Tourism Federation, said: “Myanmar has become one of the “must-go” travel destinations of choice. As such, there is a crucial need for the country to welcome foreign investment to help fill the gap in tourism products and hospitality resources. At this year event, we will unveil appropriate investment and partnership models to foreign investors who can add more financial and technological resources to boost Myanmar’s hospitality and tourism landscape.” 

Mr Chua Wee Phong, Chairman of Sphere Conferences, said: “Myanmar is becoming one of the world’s fastest growing destinations and attracted its one millionth visitor in 2012. Comparing with 2011, tourist arrivals have jumped 30% in 2012. From 2009 to 2012, tourism income has almost tripled from US$196 million to US$539 million. With such favourable numbers, it is only natural that Sphere Conferences engages this sector to support Myanmar in fulfilling its potential. We are proud that the Myanmar Hospitality and Tourism Conference has drawn tremendous interest from international participants.”

For the complete list of speakers, visit the event website at  www.mhtc.sphereconferences.com

For more information on the Myanmar Hospitality and Tourism Conference 2013, please contact Ms Nann Thi Thi Tun at telephone: (65) 6848-5371 or email  thithi@sphereconferences.com.

Photo 1 – Myanmar Hospitality and Tourism Conference 2013 officiated by (from left) – Mr Alan Chan, Chief Executive Officer, Singapore Press Holdings; H.E. Robert Chua, Republic of Singapore Ambassador to Myanmar; H.E. U Htay Aung, Union Minister of Hotels and Tourism, Ministry of Hotels and Tourism; U Myint Swe, Chief Minister, Yangon, Myanmar; U Yan Win, Chairman, Myanmar Tourism Federation; and Mr Chua Wee Phong, Chairman, Sphere Conferences. 

Photo 2 – Mr Alan Chan, Chief Executive Officer, Singapore Press Holdings (left) presents The Straits Times “Asian of the Year” Award to H.E. U Htay Aung, Union Minister of Hotels and Tourism, Ministry of Hotels and Tourism (right), who receives the award on behalf of the winner – President of Myanmar, Thein Sein.

Issued by Singapore Press Holdings Ltd
Co. Regn. No. 198402868E 

For more information, please contact:

Ms. Nann Thi Thi Tun
Marketing Executive 
Sphere Conferences
Tel:  +65 6848 5371
Email:  thithi@sphereconferences.com

Ms. Karin Lee
Senior Marketing Manager
Sphere Conferences
Tel:  +65 6848 6054
Email:  Karin@sphereconferences.com

Mr Yeo Siew Chi
Manager
Corporate Communications CSR
Singapore Press Holdings Limited
Tel:  +65 6319 1586
Email -  yeosc@sph.com.sg

About Sphere Conferences

Sphere Conferences, a conference arm of Singapore Press Holdings, produces conferences that are of the highest quality bringing inspiration, innovation and value to customers. Sphere’s purpose is to empower customers with big and fresh ideas and lasting relationships that will enable them to excel in their chosen markets, by providing unique networking and learning platforms whereby they can learn, network and do business.

For more information, please visit  www.sphereconferences.com

About Singapore Press Holdings Ltd

Incorporated in 1984, main board-listed Singapore Press Holdings Ltd (SPH) is Southeast Asia’s leading media organisation, engaging minds and enriching lives across multiple languages and platforms.

Newspapers, Magazines and Book Publishing 
In Singapore, SPH publishes 18 newspaper titles in four languages. On an average day, 3.05 million individuals or 76 per cent of people above 15 years old, read one of SPH’s news publications. SPH also publishes and produces more than 100 magazine titles in Singapore and the region, covering a broad range of interests from lifestyle to information technology. SPH’s subsidiaries, Straits Times Press and Focus Publishing, produce quality books and periodicals in English and Chinese.

Internet and Mobile
Beyond print, the Internet editions of SPH newspapers enjoy over 270 million page views with 18 million unique visitors every month. Apart from AsiaOne, SPH’s online and new media initiatives include ST701, the leading online marketplace for jobs (STJobs), property (STProperty), cars (STCars) and general classifieds (STClassifieds); Stomp,  omy.sgand The Straits Times RazorTV. SPH also launched The Straits Times’ iPad and enhanced iPhone applications, an Android smartphone application and The Business Times’ iPad and smartphone applications. SPH’s Chinese flagship newspaper Lianhe Zaobao has also launched its digital editions which include a web application, as well as online and PDF versions.

Broadcasting
In the radio business, SPH has an 80 per cent stake in SPH UnionWorks Pte Ltd, which operates entertainment stations UFM 100.3 in Mandarin, as well as Kiss92 and HOT FM91.3 in English. SPH has a 20 per cent stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8 and U, and a 40 per cent stake in MediaCorp Press Limited, which publishes the free newspaper, Today. 

Events and Out-of-Home Advertising
SPH’s events arm Sphere Exhibits organises innovative consumer and trade events and exhibitions as well as large scale conferences in Singapore and the region. In addition, SPH has ventured into out-of-home (OOH) advertising through its digital out-of-home platform SPH MediaBoxOffice.

Properties
SPH owns and manages Paragon, the prime retail and office complex in the heart of Orchard Road, Singapore’s main shopping belt. Its second retail development, The Clementi Mall, started business operations in 2011. SPH’s wholly-owned subsidiary, Times Development Pte Ltd, has also developed a 43-storey upmarket residential condominium, Sky@eleven, at Thomson Road. SPH’s latest retail development project, The Seletar Mall, is slated for completion by end 2014.

For more information, please visit  www.sph.com.sg.

SINGAPORE PRESS HOLDINGS LIMITED : Inaugural Myanmar Hospitality and ... - 4

UBS Sued by Two Singapore Traders Fired After Rate Probe

UBS AG was sued for wrongful dismissal by two former traders in Singapore who claimed they were fired in a bid by the bank to cover up its role in allegedly manipulating key reference rates.

Mukesh Kumar Chhaganlal, the bank’s former co-head of macro-trading for emerging markets in Asia, and Prashant Mirpuri, a former executive director, said in separate lawsuits filed at Singapore’s High Court yesterday that they were given no opportunity to defend themselves against the bank’s claims of gross misconduct on their part.

“There was a clear lack of particulars of what they did wrong,” their lawyer Daniel Chia said today. The Straits Times earlier reported the lawsuits.

UBS was fined about $1.5 billion in December by the U.S., U.K. and Swiss regulators for trying to rig global interest rates. The Zurich-based bank today declined to comment on the Singapore lawsuits, saying in an e-mailed statement that the reviews are ongoing and it is fully cooperating with the authorities.

The firings were “effected in order to cover up the defendant’s role in the growing scandal related to allegedly fixing of rates of non-deliverable forwards,” according to the lawsuits.

The cases are Prashant Parmeshwar Sunny Mirpuri v UBS AG (UBSN) S163/2013 and Mukesh Kumar Chhaganlal v UBS AG S164/2013. Singapore High Court.

To contact the reporters on this story: Andrea Tan in Singapore at atan17@bloomberg.net; Sanat Vallikappen in Singapore at vallikappen@bloomberg.net

To contact the editors responsible for this story: Douglas Wong at dwong19@bloomberg.net; Chitra Somayaji at csomayaji@bloomberg.net

Enlarge image

UBS Sued by Two Singapore Traders Fired After Rate-Rigging Probe

Charles Pertwee/Bloomberg

The UBS Wealth Management Campus is seen in Singapore. The campus is used to train UBS private bankers and wealth management advisers.

The UBS Wealth Management Campus is seen in Singapore. The campus is used to train UBS private bankers and wealth management advisers. Photographer: Charles Pertwee/Bloomberg

Enlarge image

UBS Sued by Two Singapore Traders Fired After Rate-Rigging Probe

Valentin Flauraud/Bloomberg

A UBS AG logo is seen beyond a security fence during construction work outside the company’s offices in Geneva.

A UBS AG logo is seen beyond a security fence during construction work outside the company’s offices in Geneva. Photographer: Valentin Flauraud/Bloomberg

UBS Sued by Two Singapore Traders Fired After Rate Probe

Singapore to launch its largest REIT IPO

Singapore to launch its largest REIT IPO
By Toni Waterman |
Posted: 28 February 2013 0049 hrs

 

 

 
 
 

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SINGAPORE: The stage has been set for Singapore’s largest initial public offering of a real estate investment trust (REIT).

Mapletree Greater China Commercial Trust has locked in a top price of 93 cents a share for its IPO, and it will raise up to S$1.7 billion from the listing.

The offering is Singapore’s largest IPO in two years, since Hutchison Port Holdings Trust raised US$5.5 billion in March 2011. It is also the first-ever REIT with commercial properties in both China and Hong Kong.

The Temasek-linked trust will offer about 776.6 million shares, of which nearly 265.4 million will be available to the public.

The REIT will use the proceeds to help buy two buildings — the Festival Walk retail and office development in Hong Kong and the Gateway Plaza office building with a retail atrium in Beijing.

It will also draw HK$12.15 billion from its unsecured term loan facility to fund the cost.

The IPO portfolio has a total valuation of S$4.3 billion and covers an aggregate gross floor area of about 2.4 million square feet. As of 30 November 2012, there was about 99 per cent committed occupancy.

Mapletree expects the China-focused trust to yield 5.6 per cent in its first year and 6.1 per cent in FY2014-2015.

The offering price had been floating between 88 and 93 cents a share, but strong demand and a strong returns in its other REITs helped lock it at the high end of the range.

This is Mapletree’s fourth REIT IPO, and tops its two closest offerings. Mapletree Commercial Trust which raised S$949.5 million in April 2011 and Mapletree Industrial Trust which raised S$1.19 billion in October 2010.

Eleven cornerstone investors have already committed about S$887 million to the trust.

Mapletree, a real estate unit of Temasek Holdings, will own 32 per cent of the REIT after the sale.

Cindy Chow Pei Pei, the CEO of Mapletree Greater China Commercial Trust, said: “I think if you look at the market now, it’s really an environment where it’s really low interest rates and also there is a lot of liquidity in the markets still.

“So we do see a lot of investors looking for very strong yield plus growth vehicles and there is still a lot of demand for good quality assets that generate very good yields. So I think in terms of the Mapletree Greater China Commercial Trust offering, we do meet that demand from investors.”

The IPO is open from Thursday and the REIT will start trading on the Singapore Exchange on March 7.

- CNA/al

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Singapore to launch its largest REIT IPO

Auto accident forces Miyazato out of HSBC Women"s Champions in Singapore

SINGAPORE (AP) — Ai Miyazato has withdrawn from the HSBC Women’s Champions in Singapore as a precaution after she was hurt in a weekend auto accident.

Miyazato, the 2010 champion, withdrew on Wednesday after hitting balls for about 15 minutes.

The former No. 1-ranked Miyazato issued a statement saying she still had stiffness in her neck, shoulder and back “but it is also a precautionary measure so as not to risk further injury.”

The U.S. LPGA Tour said Paula Creamer, Suzann Pettersen and Miyazato were involved in a five-vehicle crash in Thailand on Sunday.

Creamer told a pre-tournament news conference she had “pretty bad whiplash from hitting the headrest but I took it easy and I hope that I can tee it up” when the tournament starts on Thursday.

Auto accident forces Miyazato out of HSBC Women"s Champions in Singapore