Flooding on the 17th October has killed at least 14 people and forced a total of 78,000 people to be evacuated from their homes. Nghe An province where most deaths occured (8) up to 31 inches (800 millimeters) of rain fell. In the Ha Tinh province, more than 84,000 houses and thousands of hectares (acres) of crops have been inundated by floods, while over 68,000 people have been evacuated, the report by local authorities said. About 5,000 tonnes or rice are needed for local people together with medicines and clean water.
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http://www.straitstimes.com/BreakingNews/SEAsia/Story/STIStory_591896.html
Top Indonesian Judge "Backs Death Penalty"
Constitutional Chief Muhammad Mahfud advocates the use of death sentences on people found guilty on charges of corruption. He looks into China's use of capital punishment, and claims that the Chinese "people are satisfied" with it. Mahfud claims further that in Indonesia those convicted of corruption is only given a jail sentence of three to four years, "lighter than sentences given to petty criminals." He claims this will reduce the number of corruption cases. Transparency International currently ranks Indonesia 111 of 180 countries in a corruption survey.
For more, http://www.straitstimes.com/BreakingNews/SEAsia/Story/STIStory_591851.html
Thai PM to Face Court
Prime Minister Abhisit Vejjajiva is facing a five-year ban from politics, and the ruling Democratic Party could be dissolved if he is found guilty of corruption. The party faces accusations that it paid 23 million baht to advertising firms, despite only having permission to spend 19 million on billboard marketing from the Election Commission. This can further damage Thailand's currently fragile political landscape. The Democrats, Thailand's oldest party, came to power two years ago after controversial court decisions ousted allies of fugitive ex-premier Thaksin Shinawatra, who was dislodged in a 2006 military coup.
For more, http://www.straitstimes.com/BreakingNews/SEAsia/Story/STIStory_591818.html
BRIC-Beating Nation Soars 313% in 18 Months
"Emerging Market Investing -- Consider These Statistics: See if you can guess which emerging market investment I'm talking about. Take a look at these statistics.
1. It's a member of the global economic leaders club -- better known as the G-20.
2. With 240 million people, it boasts the world's fourth-largest population.
3. Its land mass is three times the size of Texas.
4. Its 10-year government bond interest rate is less than Spain's.
5. And, most importantly, it was the best-performing stock market in 2009 and continues to chug forward in 2010.
The answer is: Indonesia."
While most publicity is about the 4 BRIC nations Brazil, Russia, India and China, Indonesia is quietly going strong. Indonesia withstood the 2008-9 economic downturn with constant GDP level of 4%, and in 2010 is projected to top 6%. That puts Indonesia in the same league as Brazil and China.
The reason for this is consumption kicked 5% higher during the second quarter, while investments jumped by 8%. The country has attracted billions of dollars in foreign capital into stocks and bonds, especially with the news of good economic performance. Regarding the stock market condition, having hit rock bottom in March 2009, the Market Vectors Indonesia Index ETF(IDX_) has catapulted 313% higher. The Indonesian Rupiah has also strengthened by 24% against the U.S. dollar.
Korea and Japan are establishing many trading ties with Indonesia. For instance with Japan, Indonesia imports a lot of Japanese technology, but exports a lot of coal, resulting in healthy import-export balance. Korea is going to invest in energy in Indonesia.
For more, http://www.thestreet.com/story/10875353/bric-beating-nation-soars-313-in-18-months.html
Singaporean Tycoon lost S$100 Million in the Casino
A Singaporean businessman who is on the Forbes Top 40 Richest list of Singpore lost S$100 million in the two casinos of Resorts World Sentosa and Marina Bay Sands. Players and industry insiders say it is not uncommon to see wagers of $300,000 or more a hand. Also, Mr Henry Quek, managing director of Far Ocean Sea Products, who lost $26 million at RWS in three days in June. Another tycoon, from Malaysia, is said to have lost $50 million here.
For more, http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_590081.html
Qatar Captain Dies on Flight
The captain of Qatar Airways departing from Manila, Philippines for Qatar passed away while the plane was in the air. The flight was diverted to Kuala Lumpur, Malaysia. The airline declines to elaborate on the name of the pilot and the cause for death.
For more, http://www.straitstimes.com/BreakingNews/SEAsia/Story/STIStory_590257.html
Indomie Noodles Safe
Singapore's Agri-food and Veterinary Authority has declared the Indomie safe after Taiwan's reports of Parahydroxy Benzoates in Indomie. Para-hyroxy Benzoates is a chemical preservative that is not allowed in instantnoodles under Singapore's food regulations. Indomie is produced by Indofood Sukses Makmur, the largest instant noodle manufacturing company in the world. For more, http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_590153.html
Cambodia's Opposition Leader Loses Jail-Term Appeal
Cambodia's fugitive opposition leader on Wednesday lost an appeal against a two-year jail term imposed in absentia for uprooting border markings. The appeals court in the capital Phnom Penh upheld Sam Rainsy's January conviction for inciting racial discrimination and intentionally damaging wooden posts denoting Cambodia's boundary with Vietnam.
Suu Kyi: I won't vote in coming Myanmar election
Since National League for Democracy (NLD) is not participating in the election, Suu Kyi refuses to vote. This is Myanmar's first election in two decades. The party had refused to register for the November 7th election under the country's new constitution, which automatically made the NLD illegal.
The country, also is known as Burma, has been under military rule since 1962. Critics say the coming election aims to create a facade of democracy. Suu Kyi's party won a landslide election victory in 1990, but the military junta rejected the results. Suu Kyi won the Nobel Peace Prize in 1991. She has spent most of the past 20 years under house arrest. An estimated 2,000 political prisoners remain behind bars in Myanmar.
For more, http://www.cnn.com/2010/WORLD/asiapcf/10/14/myanmar.suu.kyi.vote/index.html
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