Lianhe Zaobao English Selections (2010-03-20)

• China attempts to cool down dispute over RMB by sending Vice Commerce Minister to the US
  With growing calls by US lawmakers for measures to be taken to get China to revalue its renminbi, China announced yesterday that it will be sending its Vice Commerce Minister Zhong Shan to the US next week to discuss trade frictions. Beijing correspondent Chan Cheow Pong reports.

• Severe drought in southwestern China affects 50 million
  A severe drought in the southwestern region of China since last autumn has affected more than 50 million people with 16.09 million lacking drinking water. This has also impacted grain production. Direct economic losses are estimated to be RMB19.02 billion.

• Temasek Holdings plans high-level conference for political and business leaders from China and India next year
  Temasek Holdings says it hopes Singapore can play the role of catalyst in holding the conference, which will gather influential elites from China and India to discuss a wide range of issues. Senior Minister Goh Chok Tong has already been invited to speak at the event.

• Investigation by animal rights NGO finds 59 stores selling suspected tiger parts
  Local NGO Animal Concerns Research and Education Society (ACRES) carried out an undercover investigation on the illegal sale of tiger parts. It found suspected items available for sale in stores. The items were in the form of amulets, Chinese medicines, jewellery and decorative pieces and prices ranged from $3 to $4,800.

• The man promoting Singapore as a listing destination for China companies
  Lianhe Zaobao features Dr Ernest Kan Yaw Kiong of Deloitte, whose team had helped a large number of Mainland Chinese companies list in Singapore.

• MGM Mirage to withdraw from US market due to cooperation with Pansy Ho
  MGM Mirage has made the decision to withdraw from the US market so that it can continue its cooperation with Pansy Ho, daughter of Macau gambling tycoon Stanley Ho. The fact that it is forgoing its operations in Atlantic City to keep its Macau operations shows that the Macau gaming sector still holds much potential.

• George Yeo: Potential for expanded economic cooperation between Singapore and Azerbaijan
  Foreign Minister George Yeo said that oil and gas are two areas where the two countries can strengthen cooperation. Though Singapore lacks natural resources, it is strong in its chemical and maritime support industries. Many Singapore companies can provide supporting services to large oil and gas companies.

• J Y Pillay: Other companies should get ready to improve corporate governance
  Singapore Exchange chairman J Y Pillay said that small and medium enterprises should start their corporate governance process early. He also said that SGX itself has no problem complying with the new corporate governance regulations proposed.

• Size of country does not matter when it comes to openness and tolerance
  Chen Zhongxian, who has lived in Singapore for many years, contributes this commentary on why it is important for there to be continuity and consistency in Singapore's policies on immigration. In particular, he feels it should be made easier for older Chinese to stay in Singapore to care for their grandchildren, since this contributes to the local economy in many ways.

• Everyone benefits with better claims process
  [Editorial] The recent proposed overhaul of the motor insurance framework will help cut instances of fraud and other unsavoury practices in the industry. This is something that insurers will undoubtedly welcome and will benefit consumers unhappy with soaring insurance premiums in the long run.

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