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Billion-strong market in mind, Asean jumps on the Chinese dragon’s back
Monday • January 15, 2007 • todayonline.com
SHARON VASOO IN CEBU first package of market access in services. “We will work with China to bring Asean-
DEPUTY FOREIGN EDITOR It will come into effect in July. China relations to a higher level,” said Sin-
sharon@mediacorp.com.sg The agreement will not only help pave gapore’s Prime Minister, Mr Lee Hsien
LEADERS of the Association of South-east the way towards fulfilling a decade-long plan Loong, in his speech yesterday. The Re-
Asia Nations (Asean) and China yesterday to establish an Asean-China free trade area public takes over the Asean chair in August.
sealed a landmark deal to open their services by 2010, it will also secure Asean’s position Mr Lee stressed, however, that there
sectors to each other — a major step for- as a relevant player in changing the eco- was still a need to increase transparency and
ward in the plan to establish the third-largest nomic landscape of the region. improve the investment climate in order to
trading bloc in the world. Leaders have acknowledged that the key enhance business flows between both sides.
The pact covers 60 sectors — from trans- to Asean’s survival is riding on Asian eco-
port to energy services — and contains the nomic powerhouses India and China. CONTINUED ON PAGE 2
TODAYEXCLUSIVE
And Alonso’s first past the Merlion!
Proposal for F1 street FROM ROAD TO RACETRACK
MICA (P) 314/10/2006
F1 RED LIGHT IN M’SIA?
race at night past VICTORIA HALL
SUPREME COURT WHILE Singapore vies for a
familiar landmarks CITY HALL slice of Formula 1 action,
Malaysia is not sure if it will
RAFFLES CITY continue to host the event in
IAN DE COTTA PADANG
SWISSOTEL Sepang once its contract
ian@mediacorp.com.sg
ends in 2010.
RAFFLES THE PLAZA
According to United
IT IS 7pm on a Sunday in Sep- MERLION RAFFLES Kingdom-based motor
tember next year. They have lined racing portal autosport.com,
up in formation — the magnificent ESPLANADE Mr Mokhzani Tun Mahathir,
scarlet Ferraris, the gleaming sil- the chairman of the Sepang
MARINA MANDARIN F1 International Circuit, said
ver McClaren-Mercedes, the play- NI
CO that the depreciating
INSIDE ful blue and yellow Renaults — all
straining at the leash in front off
MARINA SQUARE
ORIENTAL
LL
HI
GH
Malaysian currency meant
hot news 2 W hosting the race was no
Marina Bay. One by one, the five MARINA PAN PACIFIC
AY
longer as cost-effective as it
singapore news 6 E
red starter lights go off and those BAY was several years ago.
START/FINISH LIN
world news 8 CONRAD
powerful engines roar to life. PIT LANE This could make the
voices 12 At 300kmh, led by world SUNTEC FOUNTAIN Malaysian government, which
business 16 champion Fernando Alonso, they funds the event, reluctant to
MILLENIA WALK sign off the hosting fee that
succeed 18 fly in a blur past the Esplanade
must be paid to Formula 1
plus 34 and City Hall, around Swissotel RITZ-CARLTON
supremo Bernie Ecclestone.
eatout 39 The Stamford and into Suntec “At the end of the day it is
tv & radio listings 42 City. Before you know it, they are the government who foots the
ECP
classad 43 back beneath the Benjamin Shear- bill and they have to decide,”
es Bridge and on their next lap. Proposed circuit said Mr Mokhzani.
sports 44 He said the ringgit had
If all goes to plan and For- Grandstands
we set you thinking Paddock depreciated “40 to 50 per
mula 1 (F1) supremo Bernie Ec-
Hotels cent” in the years since the
clestone reaches an understand- Landmarks
SINGAPORE FLYER contract was signed.
GETTING SMART ing with one of the Singaporean
YEN YOK
ABOUT EDUCATION 3 groups that have offered to host
a Grand Prix here in 2008, some- Hermann Tilke — and it promises several notches as the race will be The timing could also help
thing akin to this scenario could to advertise Singapore in the a night race — perhaps the first in viewers in Europe and the US tune
FEAR OF THE FLYING come alive on our roads. most flattering light possible. the world for a street circuit. in at a more comfortable hour.
Bird flu cases on the rise
– and it could get worse 4 This newspaper revealed last The circuit takes in the most Some night races are held While a final decision is still
week that Formula One Man- seductive stretch of Singapore’s in the United States, but they pending, the Ministry of Trade
agement company’s talks with skyline, including a slew of sky- take place on oval stadium tracks. and Industry has confirmed that
ACTION! HELLO, ACTION! hotel and property tycoon Ong scrapers, the Victoria Memorial Street tracks, themselves, are a talks are in progress.
What next for
S’pore’s arts scene? 34 Beng Seng and ONE°15 luxury Hall, the Raffles Hotel and the rarity with Monaco providing the “We are constantly on the
marina club developer Arthur Singapore Flyer. The start-fin- only other one on the Formula 1 lookout for investors and event
Tay are at an advanced stage. ish line of the 4.8-km track could calendar. A night race on a street organisers who wish to bring major
SEASON IN A WEEKEND TODAY has now managed to be in front of the grandstand circuit is almost unheard of and events, such as the F1 Grand Prix,
Premiership’s Big 4
clash in epic 24 hours 44 obtain details of the street circuit being built for National Day. it will provide drivers a unique
proposed by world-famous designer The novelty factor goes up technical challenge. CONTINUED ON PAGE 3