CONTENT and application creation for communications services will lead the transition to a knowledge based-industry under the Economic Transformation Programme (ETP).
With data traffic increasing by 51% per year, profit focus has shifted from infrastructure to content and service providers and the Government has outlined 10 entry point projects that cater to increasing demand for services.
The ETP Report outlined 10 entry point projects (EPP) that are estimated to rake in RM35.7bil for the gross national income (GNI) in 2020 and create 43,163 jobs.
The 10 projects, placed under three themes, address content creation, expanding applications for public use and enhancing current infrastructure and require RM30bil, of which 97% will be provided by private entities.
The remaining 3% will be from public funds.
The first three projects, under the theme “Serving Tomorrow”, consist of nurturing Malaysia’s creative content industry, deploying a unified mobile and online payment system and spurring the adoption of communication technology linking businesses, households and the Government.
The second theme, “Pushing Boundaries”, contains three projects which aim to provide access to e-learning, e-healthcare and e-government services.
E-healthcare will include remote scheduling, remote monitoring, as well as online personal record keeping and payment system to increasethe efficiency of both private and public health services.
The four projects under the final theme “Enhancing Foundations” will focus on offering better broadband and network services to the public.
One of the projects, called “Ensuring Broadband for All” aims to legally require housing developers to include broadband as an essential service in addition to water and electricity through new bylaws made by the Housing and Local Government Ministry by end of this year.
The Government has set critical targets and milestones to be achieved within the next six to 12 months led by the Information, Communications and Culture Ministry and the Malaysian Communications and Multimedia Commission.
Monday, October 25, 2010
Demand for more international schools in Malaysia
THE Education Ministry will encourage local providers to increase the number of international schools in the country.
The demand for international schools is expected to increase due to the Greater Kuala Lumpur-National Key Economic Area’s target of increasing expatriates and the returning diaspora population.
International schools have been expanding at a rate of 10% over the past five years driven by a growth in the expatriate population.
The Performance Management and Delivery Unit (Pemandu) has identified 10 providers for an expansion programme which will start next year. The progress of expansion and running marketing campaigns to engage new local and international providers will be monitored by a special team to be established by the Education Ministry.
The unit will also work together with the Higher Education Ministry, Human Resources Ministry, the Tourism Ministry, Malaysia External Trade Development Corporation (Matrade) and Wisma Putra on marketing Malaysia as a destination of choice for private basic education.
The capital requirement which will amount to RM2.4bil over a period of 10 years will be sourced entirely from the private sector.
This iniative will generate RM2.6bil in gross national income in 2020 and will create approximately 10,000 jobs.
The demand for international schools is expected to increase due to the Greater Kuala Lumpur-National Key Economic Area’s target of increasing expatriates and the returning diaspora population.
International schools have been expanding at a rate of 10% over the past five years driven by a growth in the expatriate population.
The Performance Management and Delivery Unit (Pemandu) has identified 10 providers for an expansion programme which will start next year. The progress of expansion and running marketing campaigns to engage new local and international providers will be monitored by a special team to be established by the Education Ministry.
The unit will also work together with the Higher Education Ministry, Human Resources Ministry, the Tourism Ministry, Malaysia External Trade Development Corporation (Matrade) and Wisma Putra on marketing Malaysia as a destination of choice for private basic education.
The capital requirement which will amount to RM2.4bil over a period of 10 years will be sourced entirely from the private sector.
This iniative will generate RM2.6bil in gross national income in 2020 and will create approximately 10,000 jobs.
Malaysia can become third largest solar cells producer
MALAYSIA could become the third largest producer of solar cells after China and Germany once related projects were completed next year.
The country’s aspiration is to increase its market share to 17% of world production and reach number two position behind China by 2020.
Under the Economic Transformation Programme (ETP), Malaysia will use its its current capabilities in producing semiconductors advantage to go into the solar industry.
It indicated that similarities in the solar and semiconductor value chain can help the country latch onto the global solar growth.
Malaysia has a strong starting position in solar. The country already has companies across the entire value chain.
To reach this goal, Malaysia needs to increase its cell and solar wafer production capacity by 10 times and silicon production capacity by 23 times by 2020.
Despite astronomical costs compared to oil, coal and other renewable energy sources, the global solar market has grown by 50% between 2005 and 2010.
This year, the global solar market is expected to hit 10 gigawatts in yearly supply and rake in RM160bil in revenue.
While solar is currently expensive, average installed system prices have dropped to about RM16.40 per watt.
Prices are expected to fall further to RM6.70 per watt or lower in 2020.
The solar market is expected to grow at 30% per year until 2015 and drop to 25% until 2020.
If solar’s energy share among renewable energies reaches its forecast of 5% in 2020, this will translate into global cumulative installed capacity of 560 gigawatts.
By then, an annual demand of 113 gigawatts will bring RM918bil of revenue in 2020, where Asia will drive a significant portion of the demand and supply in 2020.
The country’s aspiration is to increase its market share to 17% of world production and reach number two position behind China by 2020.
Under the Economic Transformation Programme (ETP), Malaysia will use its its current capabilities in producing semiconductors advantage to go into the solar industry.
It indicated that similarities in the solar and semiconductor value chain can help the country latch onto the global solar growth.
Malaysia has a strong starting position in solar. The country already has companies across the entire value chain.
To reach this goal, Malaysia needs to increase its cell and solar wafer production capacity by 10 times and silicon production capacity by 23 times by 2020.
Despite astronomical costs compared to oil, coal and other renewable energy sources, the global solar market has grown by 50% between 2005 and 2010.
This year, the global solar market is expected to hit 10 gigawatts in yearly supply and rake in RM160bil in revenue.
While solar is currently expensive, average installed system prices have dropped to about RM16.40 per watt.
Prices are expected to fall further to RM6.70 per watt or lower in 2020.
The solar market is expected to grow at 30% per year until 2015 and drop to 25% until 2020.
If solar’s energy share among renewable energies reaches its forecast of 5% in 2020, this will translate into global cumulative installed capacity of 560 gigawatts.
By then, an annual demand of 113 gigawatts will bring RM918bil of revenue in 2020, where Asia will drive a significant portion of the demand and supply in 2020.
Projects worth RM30bil to put nation on the ETP roadmap
By SIRA HABIBU and JOSHUA FOONG sira@thestar.com.my
KUALA LUMPUR: Nine agreements worth at least RM30bil have been inked between the Government and the private sector, boosting the RM1.3tril Economic Transformation Programme (ETP).
“This will convince those who have doubted the ETP,” Prime Minister Datuk Seri Najib Tun Razak said yesterday at the launch of the goal-oriented programme, which is seeking to transform Malaysia into a high-income nation by 2020.
He said the agreements to kick-start nine Entry Point Projects (EPPs) would put the nation on the right course on the ETP roadmap.
The companies are German-based LFoundry, St Regis, Mydin Group, Abu Dhabi-based Mubadala, WCT Bhd, renowned oilfield services player Schlumberger, Asia e-university, Premium Renewable Energy Sdn Bhd and Genting Bhd.
The projects are:
* Germany’s LFoundry will invest a total of RM1.9bil to set up five wafer fabrication plants in Kulim Hi-Tech, Kedah. The initial investment is RM214mil.
* St Regis will build a six-star hotel and residence worth RM1.2bil in KL Sentral. The 208-room hotel and 160-unit residence will be built on a 0.88ha plot.
* Mydin is investing RM1bil to open 14 new branches and assisting the Government in its sundry shop transformation programme.
* Schlumberger has invested RM300mil to establish a new Global Financial Hub and shared services in Bandar Utama, Selangor. This is part of the Greater KL New Key Economic Area to attract 100 multinational corporations to relocate to Kuala Lumpur by 2020.
* Premium Renewable Energy will set up a RM124mil bio-oil plant in Lahad Datu, Sabah. It is also investing in 29 bio-oil plants by 2020 as part of the Palm Oil NKEA to commercialise second-generation biofuel using oil palm biomass.
* Mubadala of Abu Dhabi is investing in the RM26bil KL International Financial District on a 34-ha plot near Jalan Tun Razak, Kuala Lumpur.
* Malaysia Airports Holdings Bhd had awarded a 25-year concession to WCT Bhd to build a RM486mil integrated complex at KLIA 2, the upcoming low-cost carrier terminal in Sepang.
* Asia e-University has been picked as the gateway university for international education in distance and on-line learning. It is expected to generate gross national income of RM100mil.
* Genting is investing RM150mil to build Johor Premium Outlets in Genting Indahpura.
Najib said the projects were part of the 131 EPPs that would be implemented to create 3.3 million new jobs.
KUALA LUMPUR: Nine agreements worth at least RM30bil have been inked between the Government and the private sector, boosting the RM1.3tril Economic Transformation Programme (ETP).
“This will convince those who have doubted the ETP,” Prime Minister Datuk Seri Najib Tun Razak said yesterday at the launch of the goal-oriented programme, which is seeking to transform Malaysia into a high-income nation by 2020.
He said the agreements to kick-start nine Entry Point Projects (EPPs) would put the nation on the right course on the ETP roadmap.
The companies are German-based LFoundry, St Regis, Mydin Group, Abu Dhabi-based Mubadala, WCT Bhd, renowned oilfield services player Schlumberger, Asia e-university, Premium Renewable Energy Sdn Bhd and Genting Bhd.
The projects are:
* Germany’s LFoundry will invest a total of RM1.9bil to set up five wafer fabrication plants in Kulim Hi-Tech, Kedah. The initial investment is RM214mil.
* St Regis will build a six-star hotel and residence worth RM1.2bil in KL Sentral. The 208-room hotel and 160-unit residence will be built on a 0.88ha plot.
* Mydin is investing RM1bil to open 14 new branches and assisting the Government in its sundry shop transformation programme.
* Schlumberger has invested RM300mil to establish a new Global Financial Hub and shared services in Bandar Utama, Selangor. This is part of the Greater KL New Key Economic Area to attract 100 multinational corporations to relocate to Kuala Lumpur by 2020.
* Premium Renewable Energy will set up a RM124mil bio-oil plant in Lahad Datu, Sabah. It is also investing in 29 bio-oil plants by 2020 as part of the Palm Oil NKEA to commercialise second-generation biofuel using oil palm biomass.
* Mubadala of Abu Dhabi is investing in the RM26bil KL International Financial District on a 34-ha plot near Jalan Tun Razak, Kuala Lumpur.
* Malaysia Airports Holdings Bhd had awarded a 25-year concession to WCT Bhd to build a RM486mil integrated complex at KLIA 2, the upcoming low-cost carrier terminal in Sepang.
* Asia e-University has been picked as the gateway university for international education in distance and on-line learning. It is expected to generate gross national income of RM100mil.
* Genting is investing RM150mil to build Johor Premium Outlets in Genting Indahpura.
Najib said the projects were part of the 131 EPPs that would be implemented to create 3.3 million new jobs.
Thursday, October 21, 2010
Qld firm wins rich deal in LNG project
Source:
By PATRICK TALU
THE Toowoomba-based construction materials group Wagners Global Services has won a multi-million dollar contract to operate two concrete plants for ExxonMobil’s US$18 billion PNG LNG project.Through the help of the Australian government’s Export Finance and Insurance Corp (EFIC), Wagners will supply, install and operate the plants for the Southern Highlands project, according to an article on the Queensland Business Review (QBR) online yesterday.The actual contract value was not disclosed.QBR said Wagners would work in collaboration with Japanese engineering and construction firms Chiyoda Corp and JGC Corp, whose joint venture CJJV is building the LNG plant for Esso Highlands Ltd, a consortium led by PNG LNG project operator ExxonMobil.Wagners general manager John Watts reportedly said EFIC, the federal government’s export credit agency, had provided two performance bonds to CJJV on behalf of the company.“The Australian commercial banks would have required full security to issue the performance bonds to a party in a foreign jurisdiction and we couldn’t afford to tie up our cash resources in that way,” Watts said.“EFIC’s bonds have freed up our working capital, enabling us to deliver this large-scale contract in a challenging location,” he added.EFIC has provided a US$350 million loan to the broader PNG LNG project, joining an international syndicate of export credit agencies and commercial lenders.Wagners will install and operate two ready-mix wet-batch mobile concrete plants and supply around 130,000 cubic metres of cement for the construction of the LNG plant.
By PATRICK TALU
THE Toowoomba-based construction materials group Wagners Global Services has won a multi-million dollar contract to operate two concrete plants for ExxonMobil’s US$18 billion PNG LNG project.Through the help of the Australian government’s Export Finance and Insurance Corp (EFIC), Wagners will supply, install and operate the plants for the Southern Highlands project, according to an article on the Queensland Business Review (QBR) online yesterday.The actual contract value was not disclosed.QBR said Wagners would work in collaboration with Japanese engineering and construction firms Chiyoda Corp and JGC Corp, whose joint venture CJJV is building the LNG plant for Esso Highlands Ltd, a consortium led by PNG LNG project operator ExxonMobil.Wagners general manager John Watts reportedly said EFIC, the federal government’s export credit agency, had provided two performance bonds to CJJV on behalf of the company.“The Australian commercial banks would have required full security to issue the performance bonds to a party in a foreign jurisdiction and we couldn’t afford to tie up our cash resources in that way,” Watts said.“EFIC’s bonds have freed up our working capital, enabling us to deliver this large-scale contract in a challenging location,” he added.EFIC has provided a US$350 million loan to the broader PNG LNG project, joining an international syndicate of export credit agencies and commercial lenders.Wagners will install and operate two ready-mix wet-batch mobile concrete plants and supply around 130,000 cubic metres of cement for the construction of the LNG plant.
Wednesday, October 20, 2010
Marengo inks financing deal with China
Source:
By PATRICK TALU
MARENGO Mining (MGO), the operator of the Yandera gold, copper and molybdenum project in Madang, has signed a landmark financing and off-take deal with a Chinese construction and engineering group for its 100% owned Yandera project.
In a statement released yesterday, MGO said the memorandum of understanding (MOU) with China’s Nonferrous Metal Industry’s Foreign Engineering and Construction (NFC) was facilitated by Perth-based Arccon WA Pty Ltd (Arccon).
Under the MOU, Marengo has agreed to work exclusively with NFC and Arccon to establish the cost and programme for delivery of the Yandera project in parallel with the completion of the current definitive feasibility study (DFS).
Marengo’s managing director Les Emery said: “This potentially paves the way for formal agreements which will underpin the development of one of the world’s significant new copper projects.”
“While the foundation of the MOU is the construction and engineering contract for the Yandera project, it is important to note that the deal also contemplates NFC facilitating project finance and concentrate off-take for the project, together with potentially investing either in Marengo or the project, or both,” he said.
NFC president Wang Hongqian added: “NFC looks forward to a close and co-operative relationship with Marengo Mining as we work together to lay the foundations for one of the world’s biggest new copper mines in PNG.”
They said the discussions would be conducted to enter into a formal construction agreement (engineering, procurement and construction or EPC contract).
Here, Marengo will appoint NFC as the principal contractor, under a lump-sum turnkey contract, following a detailed evaluation of the project construction costs to be undertaken by NFC as part of the final stage of the DFS.
Bligh bats for PNG hydro-power plan
QUEENSLAND premier Anna Bligh has talked up the potential of two big renewable energy projects in North Queensland and Papua New Guinea’s Purari River, saying they could help the region take the “next giant leap forward”.
She also quelled fears the PNG scheme could hurt renewable energy proposals in North Queensland, saying the two schemes were complementary.
The 50-50 owned Australian-based energy company Origin Energy and PNG Sustainable Development Program’s ambitious plans to build a multi-billion-dollar hydro-electric plant in Gulf near Purari River and send the electricity back to Australia via an undersea cable have not impressed investors or analysts.
The Townsville Bulletin yesterday, reporting on Bligh’s six-day visit to the North Queensland, said a host of renewable energy projects had been mooted along what had been dubbed the clean energy corridor between Townsville and Mount Isa.
A BIS Schrapnel report has found there was potential for 900MW of installed renewable capacity to be connected to the grid through an AC transmission line by 2015-16 - 300MW in baseload power from biomass and solar thermal sources and another 600MW from wind power.
The newspaper reported that Origin Energy was assessing the potential for an 1800MW hydro-electric scheme on the Purari River in PNG and exporting power into Australia’s energy grid via a cable link to North Queensland by 2020.
There have been fears the PNG scheme could ruin plans for North Queensland schemes although Bligh and energy consultant John O’Brien, a director of one of the companies pushing development of the AC transmission line called the CopperString project, doused that yesterday.
Bligh said the two projects complemented one another while O’Brien said the increasing demand for electricity meant the region would need all the sources of power it could get to meet requirements.
“I think the Townsville community, particularly the business community, understands that reliable base-load power is critical to this economy taking its next great leap forward,” Bligh said.
Monday, October 11, 2010
Emal to raise $700m from agencies
09 Dec 2009
Emirates Aluminium (Emal), which has plans to become the world's biggest single aluminium smelter, expects to raise $700 million (Dh2.5 billion) from credit agencies by next month, the finance chief said.So far there has been no difficulties in raising funds for the project's phase two, said CFO Bill Campbell."We are raising $700m from Export Credit Agencies, which is in a cash-closing position, and is expected to close next month," he said.Emal is a 50-50 joint venture between Dubai Aluminium Company Limited (Dubal) and Mubadala Development Company (Mubadala), Abu Dhabi's investment vehicle. He also said the company would raise $700m amortising bond in March/April, with an average life of 7.5 years."The remaining $600m will be raised from shareholders Mubadala or Dubal or money earned or savings," he added.Emal will start its first exports shipment in January, Campbell said.The $5.7bn project, located at Al Taweelah in Abu Dhabi, will have a full production capacity of 700,000 metric tonnes of aluminium per year from the first phase, expected to be reached by December 2010. Phase one is expected to break even in June 2011, Campbell said, adding that "price assesment is well below prices today".
Emirates Aluminium (Emal), which has plans to become the world's biggest single aluminium smelter, expects to raise $700 million (Dh2.5 billion) from credit agencies by next month, the finance chief said.So far there has been no difficulties in raising funds for the project's phase two, said CFO Bill Campbell."We are raising $700m from Export Credit Agencies, which is in a cash-closing position, and is expected to close next month," he said.Emal is a 50-50 joint venture between Dubai Aluminium Company Limited (Dubal) and Mubadala Development Company (Mubadala), Abu Dhabi's investment vehicle. He also said the company would raise $700m amortising bond in March/April, with an average life of 7.5 years."The remaining $600m will be raised from shareholders Mubadala or Dubal or money earned or savings," he added.Emal will start its first exports shipment in January, Campbell said.The $5.7bn project, located at Al Taweelah in Abu Dhabi, will have a full production capacity of 700,000 metric tonnes of aluminium per year from the first phase, expected to be reached by December 2010. Phase one is expected to break even in June 2011, Campbell said, adding that "price assesment is well below prices today".
Emal to export aluminium to South Korea
11 Feb 2010
State-owned Emirate's Aluminium (Emal) has signed a contract to ship aluminium to South Korea's Daewoo International Corporation, Wam reported. This would be the company's first international shipment of the metal. "We are delivering our first shipment to Daewoo," Saeed Al Mazroui, Emal's Chief Executive told Wam. "This agreement is in line with our business strategy to develop a wide international client base," he added. No details were given on the quality of aluminium that was sent. By the end of 2010, Emal plans to ramp up production of its $5.7 billion (Dh20.93bn) project located at Al Taweelha in Abu Dhabi to 700,000 tonnes of aluminium per year (tpy).Emal is a 50-50 joint venture between Dubai Aluminium Company Limited (Dubal) and Mubadala Development Company (Mubadala), Abu Dhabi's investment vehicle.Emal is expected to be the world's largest single-site aluminium smelter complex. The first phase of the project will have a capacity of 2,000 megawatts of electricity.
State-owned Emirate's Aluminium (Emal) has signed a contract to ship aluminium to South Korea's Daewoo International Corporation, Wam reported. This would be the company's first international shipment of the metal. "We are delivering our first shipment to Daewoo," Saeed Al Mazroui, Emal's Chief Executive told Wam. "This agreement is in line with our business strategy to develop a wide international client base," he added. No details were given on the quality of aluminium that was sent. By the end of 2010, Emal plans to ramp up production of its $5.7 billion (Dh20.93bn) project located at Al Taweelha in Abu Dhabi to 700,000 tonnes of aluminium per year (tpy).Emal is a 50-50 joint venture between Dubai Aluminium Company Limited (Dubal) and Mubadala Development Company (Mubadala), Abu Dhabi's investment vehicle.Emal is expected to be the world's largest single-site aluminium smelter complex. The first phase of the project will have a capacity of 2,000 megawatts of electricity.
Emal will be fully operational by 2013
14 March 2010
World's largest aluminium smelter will cost an estimated $10 billion.
Emirates Aluminium (Emal), the 50:50 joint venture project between Abu Dhabi's Mubadala and Dubai Aluminium Company (Dubal) will be fully operational in 2013. Once completed, it will become the world's largest alumina smelter and will cost a projected $10 billion (Dh36.72bn).
The smelter plant, which has already started production and exports, spreads across a six sq km plot in the Khalifa Port and Industrial Zone in Taweelah, along the coastline close to the Abu Dhabi-Dubai Highway.
Emal is the first and largest industrial unit in the industrial zone which is also set to become Abu Dhabi's first free industrial zone close to the country's largest seaport, Port Khalifa, which is under development.
The multi-billion dirham infrastructure facilities around the zone include link roads, external highways and a network of freight rail system to be built in future.
Emal was conceived and established in 2007 under an Emiri Decree issued by the President, His Highness Sheikh Khalifa bin Zayed Al Nahyan. Construction of the project started in early 2008. Emal also has to its credit, the distinction of being one of the world's largest industrial units to start production and exports, within a short span of time.
Emirates Business was the first and till date, the only media organisation to have been allowed to visit and tour the world's largest aluminium smelter site. The news team was escorted around the site and briefed about all the processes – from the arrival of raw materials to the finished product and exports.
"The first phase of the project will be fully operational by end 2010 or the beginning of 2011. Once fully operational, the first phase will have a capacity of 750,000 tonnes primary aluminium per year," said Yousef Bastaki, Project Director, Emal. When asked about the cost of the first phase, he said it was being built at a cost of approximately $5.7bn.
Commenting on current production capacity, he said Emal was at the start-up stage with production going online and marketing having begun. "We are very pleased with the highest environmental, health and safety performance. Once phase one is fully operational, Emal will have a production capacity of 750,000 tonnes of finished products."
Emal began its ramp-up to full production in December 2009 with the delivery of the first crucibles of molten metal from the smelter to the plant cast-house, and the first metal was cast to 650kg sow ingot.
The first local customer, Trans Gulf Aluminium (TGA), a local manufacturer of aluminium wire and rods and alloy ingots, was announced on February 3, followed by the first international client, Korea's Daewoo.
About Emal's market targets, Bastaki said: "We are a global player targeting customers around the world. We target all markets, local, regional and global. We are proud to have already started our first international shipment or export to South Korean conglomerate Daewoo International, our first international client last month. It is a big achievement in such a short period of time."
Emal, which is located close to Port Khalifa, has its own power plant with a capacity of 2000MW of electricity to run the plants in the first phase. Another power plant of similar power capacity is to be added in the second phase of the project.
In addition, it also has its own mini-port to receive raw material through conveyors directly from cargo vessels and to transport finished products through the on-site road-networks that will be further advanced with an internal freight rail network in future.
Being an environment-friendly project with health and safety facilities, the site has its own sewerage treatment plant in the first phase and will build another when the second phase is completed in 2013.
Elaborating on phase two of the project, Bastaki said: "It is still under feasibility studies. Phase two, when complete, will double production capacity. It will increase to 1.5 million tonnes per annum, making Emal the world's most productive and efficient single site aluminium smelter complex."
When asked about the cost of the project's second phase, he said it was too early to give a figure. "The feasibility study will tell us soon." On financing, Bastaki said this would not be a problem as both the stakeholders were strong enough to finance the project and had already worked out the estimates.
Bastaki said: "We have already started studying the financing of phase two. Hopefully, that will not be a problem as both our stakeholders – Mubadala and Dubal – are strong in finance. Once the feasibility study for phase two is finalised, we will be in a position to determine the extent of finance needed. When you are building a smelter that has a 50-year operating life, you don't do the economics based on today's situation."
About raw material supplies, Bastaki said most of these currently come from Australia, which is the largest exporter of alumina. He said Emal also gets its raw material supplies from China and other countries. "Though we have not fully completed the first phase and are embarking on the second phase, we have had no problem in supplies of raw material, which have been smooth so far."
Referring to the break-up between exports and local market sales of finished products, Bastaki said Emal was targeting a minimum of 20 per cent supplies for the local market and the rest for export to international markets. About 51 contractors and sub-contractors are involved in the construction of the complex with more than 20,000 workers at the site during peak-working hours.
"Now we have 15,777 workers working at the site. Emal currently employs around 1,000 people and when fully operational with the completion of phase two, this number is likely to cross 2,000," said Bastaki.
The complex is using UAE-owned technology, conceived at Dubal, to produce aluminium products from raw material. The complex also has the world's largest pot-room – 1,390 metres long. The complex produces low and high profile sows, standard and tee ingots, extrusion billets and sheet ingots.
The first phase has identical six gas turbines and two steam turbines, in addition to three gas turbines that are already operational – 11, 12 and 21. The complex currently has three alumina silos, each with a capacity of 17,000 tonnes; and two cork silos with capacity of 25,000 tonnes each. Additional, smaller silos to receive and store alumina will also be built. It has several large lines of pot-rooms with strong magnetic fields that can even stop a car from running.
When phase two is completed, all the processing plants, power plants and sewerage treatment plants will be doubled to make Emal one of the world's massive aluminium complexes – a mini city that will rise from the once barren salt flats along the Abu Dhabi-Dubai Highway..
EMIRATES ALUMINIUM: THE FACTS
Emirates Aluminium (Emal) was established through a 50:50 joint venture partnership between Dubai Aluminium Company (Dubal) and Mubadala Development Company (Mubadala)
The joint venture agreement was signed in November 2007
Operations at Phase One of the plant commenced on December 2 last year
The complex is to be built in two phases on a six sq km site in Khalifa Port and Industrial Zone, Al Taweelah – halfway between Abu Dhabi and Dubai
Emal is an important strategic initiative for Abu Dhabi, Dubai and the UAE, and a key component of Abu Dhabi's diversification and industrialisation policy
The cost of building Phase One is approximately $5.7 billion (Dh20.93bn). This results in 756 reduction cells arranged in two pot-lines, on-site 2,000 MW power plant, anode manufacturing plant and multi-product cast house
More than 19,000 local, international contractors and staff are employed during construction
Emal's operational workforce provides direct employment to approximately 2,000 people
The project generates jobs, encourages economic diversification and downstream development opportunities
Its target is to achieve zero Lost Time Injuries (LTI), a low incident frequency rate and minimum impact on the environment
Emal's environmental strategy is compliant with Abu Dhabi Environment Agency standards and local laws, and envisages adoption of global best practices wherever possible
STORY IN NUMBERS
- $10bn will be the cost of the project once it is fully operational by 2013
- 1.5 million tonnes will be the total production capacity per annum
- 750,000 tonnes will be the plant'scapacity once phase one is completed by the end of 2010
- $5.7 is the cost of phase one
- 6 sq km is the area of the site on which the entire project will be located
- 2000MW is the amount of electricity the Emal power plant will generate
- 20,000 workers will be employed on site during peak working hours
OPERATIONAL CAPACITY: PHASE I
- Configuration:2 pot-lines, 756 reduction cells
- Technology:Dubal DX, 350kA
- Power Station:2,000 MW
PROJECT TIMELINE: PHASE I
- February 2007:JV Signed
- January 2008:Construction commenced
- April 2008:First Concrete
- December 2009:First Metal
- January 2011:Full Operation
World's largest aluminium smelter will cost an estimated $10 billion.
Emirates Aluminium (Emal), the 50:50 joint venture project between Abu Dhabi's Mubadala and Dubai Aluminium Company (Dubal) will be fully operational in 2013. Once completed, it will become the world's largest alumina smelter and will cost a projected $10 billion (Dh36.72bn).
The smelter plant, which has already started production and exports, spreads across a six sq km plot in the Khalifa Port and Industrial Zone in Taweelah, along the coastline close to the Abu Dhabi-Dubai Highway.
Emal is the first and largest industrial unit in the industrial zone which is also set to become Abu Dhabi's first free industrial zone close to the country's largest seaport, Port Khalifa, which is under development.
The multi-billion dirham infrastructure facilities around the zone include link roads, external highways and a network of freight rail system to be built in future.
Emal was conceived and established in 2007 under an Emiri Decree issued by the President, His Highness Sheikh Khalifa bin Zayed Al Nahyan. Construction of the project started in early 2008. Emal also has to its credit, the distinction of being one of the world's largest industrial units to start production and exports, within a short span of time.
Emirates Business was the first and till date, the only media organisation to have been allowed to visit and tour the world's largest aluminium smelter site. The news team was escorted around the site and briefed about all the processes – from the arrival of raw materials to the finished product and exports.
"The first phase of the project will be fully operational by end 2010 or the beginning of 2011. Once fully operational, the first phase will have a capacity of 750,000 tonnes primary aluminium per year," said Yousef Bastaki, Project Director, Emal. When asked about the cost of the first phase, he said it was being built at a cost of approximately $5.7bn.
Commenting on current production capacity, he said Emal was at the start-up stage with production going online and marketing having begun. "We are very pleased with the highest environmental, health and safety performance. Once phase one is fully operational, Emal will have a production capacity of 750,000 tonnes of finished products."
Emal began its ramp-up to full production in December 2009 with the delivery of the first crucibles of molten metal from the smelter to the plant cast-house, and the first metal was cast to 650kg sow ingot.
The first local customer, Trans Gulf Aluminium (TGA), a local manufacturer of aluminium wire and rods and alloy ingots, was announced on February 3, followed by the first international client, Korea's Daewoo.
About Emal's market targets, Bastaki said: "We are a global player targeting customers around the world. We target all markets, local, regional and global. We are proud to have already started our first international shipment or export to South Korean conglomerate Daewoo International, our first international client last month. It is a big achievement in such a short period of time."
Emal, which is located close to Port Khalifa, has its own power plant with a capacity of 2000MW of electricity to run the plants in the first phase. Another power plant of similar power capacity is to be added in the second phase of the project.
In addition, it also has its own mini-port to receive raw material through conveyors directly from cargo vessels and to transport finished products through the on-site road-networks that will be further advanced with an internal freight rail network in future.
Being an environment-friendly project with health and safety facilities, the site has its own sewerage treatment plant in the first phase and will build another when the second phase is completed in 2013.
Elaborating on phase two of the project, Bastaki said: "It is still under feasibility studies. Phase two, when complete, will double production capacity. It will increase to 1.5 million tonnes per annum, making Emal the world's most productive and efficient single site aluminium smelter complex."
When asked about the cost of the project's second phase, he said it was too early to give a figure. "The feasibility study will tell us soon." On financing, Bastaki said this would not be a problem as both the stakeholders were strong enough to finance the project and had already worked out the estimates.
Bastaki said: "We have already started studying the financing of phase two. Hopefully, that will not be a problem as both our stakeholders – Mubadala and Dubal – are strong in finance. Once the feasibility study for phase two is finalised, we will be in a position to determine the extent of finance needed. When you are building a smelter that has a 50-year operating life, you don't do the economics based on today's situation."
About raw material supplies, Bastaki said most of these currently come from Australia, which is the largest exporter of alumina. He said Emal also gets its raw material supplies from China and other countries. "Though we have not fully completed the first phase and are embarking on the second phase, we have had no problem in supplies of raw material, which have been smooth so far."
Referring to the break-up between exports and local market sales of finished products, Bastaki said Emal was targeting a minimum of 20 per cent supplies for the local market and the rest for export to international markets. About 51 contractors and sub-contractors are involved in the construction of the complex with more than 20,000 workers at the site during peak-working hours.
"Now we have 15,777 workers working at the site. Emal currently employs around 1,000 people and when fully operational with the completion of phase two, this number is likely to cross 2,000," said Bastaki.
The complex is using UAE-owned technology, conceived at Dubal, to produce aluminium products from raw material. The complex also has the world's largest pot-room – 1,390 metres long. The complex produces low and high profile sows, standard and tee ingots, extrusion billets and sheet ingots.
The first phase has identical six gas turbines and two steam turbines, in addition to three gas turbines that are already operational – 11, 12 and 21. The complex currently has three alumina silos, each with a capacity of 17,000 tonnes; and two cork silos with capacity of 25,000 tonnes each. Additional, smaller silos to receive and store alumina will also be built. It has several large lines of pot-rooms with strong magnetic fields that can even stop a car from running.
When phase two is completed, all the processing plants, power plants and sewerage treatment plants will be doubled to make Emal one of the world's massive aluminium complexes – a mini city that will rise from the once barren salt flats along the Abu Dhabi-Dubai Highway..
EMIRATES ALUMINIUM: THE FACTS
Emirates Aluminium (Emal) was established through a 50:50 joint venture partnership between Dubai Aluminium Company (Dubal) and Mubadala Development Company (Mubadala)
The joint venture agreement was signed in November 2007
Operations at Phase One of the plant commenced on December 2 last year
The complex is to be built in two phases on a six sq km site in Khalifa Port and Industrial Zone, Al Taweelah – halfway between Abu Dhabi and Dubai
Emal is an important strategic initiative for Abu Dhabi, Dubai and the UAE, and a key component of Abu Dhabi's diversification and industrialisation policy
The cost of building Phase One is approximately $5.7 billion (Dh20.93bn). This results in 756 reduction cells arranged in two pot-lines, on-site 2,000 MW power plant, anode manufacturing plant and multi-product cast house
More than 19,000 local, international contractors and staff are employed during construction
Emal's operational workforce provides direct employment to approximately 2,000 people
The project generates jobs, encourages economic diversification and downstream development opportunities
Its target is to achieve zero Lost Time Injuries (LTI), a low incident frequency rate and minimum impact on the environment
Emal's environmental strategy is compliant with Abu Dhabi Environment Agency standards and local laws, and envisages adoption of global best practices wherever possible
STORY IN NUMBERS
- $10bn will be the cost of the project once it is fully operational by 2013
- 1.5 million tonnes will be the total production capacity per annum
- 750,000 tonnes will be the plant'scapacity once phase one is completed by the end of 2010
- $5.7 is the cost of phase one
- 6 sq km is the area of the site on which the entire project will be located
- 2000MW is the amount of electricity the Emal power plant will generate
- 20,000 workers will be employed on site during peak working hours
OPERATIONAL CAPACITY: PHASE I
- Configuration:2 pot-lines, 756 reduction cells
- Technology:Dubal DX, 350kA
- Power Station:2,000 MW
PROJECT TIMELINE: PHASE I
- February 2007:JV Signed
- January 2008:Construction commenced
- April 2008:First Concrete
- December 2009:First Metal
- January 2011:Full Operation
Emal's $5.7bn aluminium smelter project on schedule
Output should reach 700,000 tonnes by December.
Potline number one of Emirate's Aluminium (Emal) is 50 per cent complete in terms of construction, according to a senior official.
Meanwhile, three gas turbines out of six are now in operation to produce the power required for the smelter.
"We are looking at the operations of power stations of around 200 MW power by December this year," said its Project Director Yousuf Bastaki.
Emal is currently undertaking feasibility studies on the second phase of its plant and expects to take a decision this year.
The $5.7 billion (Dh20.9bn) project, located at Al Taweelha in Abu Dhabi, is a joint venture between Dubai Aluminium Company Limited (Dubal) and Mubadala Development Company – Abu Dhabi's investment vehicle.
In an interview with its project director, Reuters said yesterday Emal is currently producing 300 tonnes a day, and expects to hit its production target of 700,000 tonnes per year for phase one by December.
Emal is expected to be the world's largest single-site aluminium smelter complex with this project. The first phase of the project will have a capacity of 2,000 MW of electricity.
The second phase of the plant, which will increase capacity to 1.4 million tonnes of aluminium annually is expected to be completed by 2013-2014, the company's Chief Executive Officer Saeed Al Mazroui said in January.
"They are currently conducting the feasibility study," said Emal's Vice-Chairman Abdulla Kalban.
Emal signed a contract this month to ship aluminium to South Korea's Daewoo International Corporation.
Potline number one of Emirate's Aluminium (Emal) is 50 per cent complete in terms of construction, according to a senior official.
Meanwhile, three gas turbines out of six are now in operation to produce the power required for the smelter.
"We are looking at the operations of power stations of around 200 MW power by December this year," said its Project Director Yousuf Bastaki.
Emal is currently undertaking feasibility studies on the second phase of its plant and expects to take a decision this year.
The $5.7 billion (Dh20.9bn) project, located at Al Taweelha in Abu Dhabi, is a joint venture between Dubai Aluminium Company Limited (Dubal) and Mubadala Development Company – Abu Dhabi's investment vehicle.
In an interview with its project director, Reuters said yesterday Emal is currently producing 300 tonnes a day, and expects to hit its production target of 700,000 tonnes per year for phase one by December.
Emal is expected to be the world's largest single-site aluminium smelter complex with this project. The first phase of the project will have a capacity of 2,000 MW of electricity.
The second phase of the plant, which will increase capacity to 1.4 million tonnes of aluminium annually is expected to be completed by 2013-2014, the company's Chief Executive Officer Saeed Al Mazroui said in January.
"They are currently conducting the feasibility study," said Emal's Vice-Chairman Abdulla Kalban.
Emal signed a contract this month to ship aluminium to South Korea's Daewoo International Corporation.
Emal secures $737m loans for smelter project
The UAE's state-owned Emirates Aluminium (Emal) has secured loans worth around $737 million from export credit agencies to help finance its smelter project, the company said in a statement on Sunday.
When completed, the $5.7 billion project would be the world's largest single-site aluminium smelter complex at Al Taweelha in Abu Dhabi. Emal is a 50-50 joint venture between Dubai Aluminium Company Limited (Dubal) and Mubadala Development Company (Mubadala), Abu Dhabi's investment vehicle.
The loan agreement was signed with three export credit agencies, Export-Import Bank of the United States (U.S. Ex-Im), Euler Hermes Kreditversicherungs-AG (Hermes) and the Compagnie Francaise d'Assurance pour le Commerce Exterieur (COFACE), Emal said.
U.S. Ex-Im will provide $317 million, Hermes $220 million, and COFACE $200 million, the statement said. Each credit facility has a 14-year repayment period.
Emal expects the first phase of the project to produce 700,000 tonnes of aluminium per year (tpy) by the end of this year after starting up in January.
Emal would boost capacity to 1.4 million tpy with the second phase, which it expects to complete in 2013-2014.
The expansion also involves the construction of a power plant, with capacity to produce 2,000 megawatts for the first phase of the expansion.
When completed, the $5.7 billion project would be the world's largest single-site aluminium smelter complex at Al Taweelha in Abu Dhabi. Emal is a 50-50 joint venture between Dubai Aluminium Company Limited (Dubal) and Mubadala Development Company (Mubadala), Abu Dhabi's investment vehicle.
The loan agreement was signed with three export credit agencies, Export-Import Bank of the United States (U.S. Ex-Im), Euler Hermes Kreditversicherungs-AG (Hermes) and the Compagnie Francaise d'Assurance pour le Commerce Exterieur (COFACE), Emal said.
U.S. Ex-Im will provide $317 million, Hermes $220 million, and COFACE $200 million, the statement said. Each credit facility has a 14-year repayment period.
Emal expects the first phase of the project to produce 700,000 tonnes of aluminium per year (tpy) by the end of this year after starting up in January.
Emal would boost capacity to 1.4 million tpy with the second phase, which it expects to complete in 2013-2014.
The expansion also involves the construction of a power plant, with capacity to produce 2,000 megawatts for the first phase of the expansion.
Mubadala to invest in Malaysia’s $7bn smelter
The project will create more than 10,000 jobs during construction and another 2,000 specialist jobs
Mubadala Development Company, a major investment arm of Abu Dhabi’s government, is planning to set up a joint $7 billion aluminum smelter in Malaysia under an agreement signed on Friday.
Mubadala Real Estate and Hospitality (MREH) and Mubadala Industry (MI) signed the deal with the government-owned 1Malaysia Development Berhad (1MDB), Mubadala said in a statement.
“MI has agreed to assess the viability of an investment of up to $7bn for the development of a major initiative in the aluminium sector based on hydro power in the Sarawak Corridor of Renewable Energy (Score),” it said.
“The two state-owned companies are starting preliminary assessment work on the project, which will create more than 10,000 jobs during construction and another 2,000 specialist jobs.”
The statement said the deal involves the exploration of the potential joint development of key strategic projects within the Kuala Lumpur International Financial District (KLIFD), the 34.4 hectare development in Kuala Lumpur that is being led by 1MDB.
The full scope of MREH’s participation in projects to be located within the KLIFD will be finalized in 2011 following completion by 1MDB of the KLIFD master plan.
It said KLIFD would provide a state-of-the-art home for world-class institutions operating in Malaysia’s financial system, including major international banking and financial institutions, financial services, investment houses and regulators.
Malaysian Prime Minister Mohd Najib Abdul Razak and Khaldoon Khalifa Al Mubarak, Chairman of the Executive Affairs Authority of the Government of Abu Dhabi and Chief Executive Officer and Managing Director of Mubadala Development Company were present at the signing in Kuala Lumpur.
1MDB is a strategic development company wholly owned by the Government of Malaysia. It serves as a catalyst for long-term sustainable economic development, advocating innovation and high performance towards strengthening national competitiveness.
Mubadala Development Company, a major investment arm of Abu Dhabi’s government, is planning to set up a joint $7 billion aluminum smelter in Malaysia under an agreement signed on Friday.
Mubadala Real Estate and Hospitality (MREH) and Mubadala Industry (MI) signed the deal with the government-owned 1Malaysia Development Berhad (1MDB), Mubadala said in a statement.
“MI has agreed to assess the viability of an investment of up to $7bn for the development of a major initiative in the aluminium sector based on hydro power in the Sarawak Corridor of Renewable Energy (Score),” it said.
“The two state-owned companies are starting preliminary assessment work on the project, which will create more than 10,000 jobs during construction and another 2,000 specialist jobs.”
The statement said the deal involves the exploration of the potential joint development of key strategic projects within the Kuala Lumpur International Financial District (KLIFD), the 34.4 hectare development in Kuala Lumpur that is being led by 1MDB.
The full scope of MREH’s participation in projects to be located within the KLIFD will be finalized in 2011 following completion by 1MDB of the KLIFD master plan.
It said KLIFD would provide a state-of-the-art home for world-class institutions operating in Malaysia’s financial system, including major international banking and financial institutions, financial services, investment houses and regulators.
Malaysian Prime Minister Mohd Najib Abdul Razak and Khaldoon Khalifa Al Mubarak, Chairman of the Executive Affairs Authority of the Government of Abu Dhabi and Chief Executive Officer and Managing Director of Mubadala Development Company were present at the signing in Kuala Lumpur.
1MDB is a strategic development company wholly owned by the Government of Malaysia. It serves as a catalyst for long-term sustainable economic development, advocating innovation and high performance towards strengthening national competitiveness.
Billions to be invested in two projects
By YVONNE TAN yvonne@thestar.com.my Oct 9, 2010
Sealing the deal: Najib and Khaldoon looking on as 1MDB chief executive officer Shahrol Halmi (right) exchanges the collaboration agreements with Mubadala Development chief operating officer Waleed Al Mokarrab Al Muhairi in Putrajaya yesterday.
PUTRAJAYA: Billions of ringgit in investments are in the pipeline from Abu Dhabi, and are set to flow into two major projects in Kuala Lumpur and Sarawak.
The emirate’s investment unit, Mubadala Development Co, is teaming up with the Government-owned 1Malaysia Development Bhd to participate in property and aluminium ventures in the two areas.
At the signing of two agreements yesterday, Prime Minister Datuk Seri Najib Tun Razak said the first would pave the way for Mubadala’s involvement in the Kuala Lumpur International Financial District (KLIFD) real estate development, which is estimated to cost more than RM26bil.
In the second tie-up, Najib added, Mubadala, through Mubadala Industry, was looking to commit up to US$7bil (RM21.7bil) in long-term projects in the Sarawak Corridor of Renewable Energy (SCORE).
“We are happy that 1MDB and Mubadala see each other as partners in driving strategic initiatives for the long-term sustainable economic development of their countries,” he said.
Mubadala Real Estate and Hospitality (MREH) has agreed to work with 1MDB to explore the potential joint development of key strategic projects within the 34ha KLIFD, near Jalan Tun Razak.
“The full scope of MREH’s participation in the projects to be located within the KLIFD will be finalised in 2011, following completion by 1MDB of the KLFID master plan,” Mubadala and 1MDB said in a joint press statement.
KLIFD will provide a state-of-the-art home for important banking and financial entities.
It is meant to further cement Malaysia’s position as a leader in global Islamic finance.
“The KLIFD is critical in the development of a globally competitive financial sector that will promote economic growth, attract foreign direct investment and create jobs,” Najib said.
“We will invite, encourage and persuade the local and international financial community to work with us, not only in shaping Kuala Lumpur as a global financial centre but also to benefit from what the KLIFD has to offer.”
Najib said the potential investment in SCORE, which is for the development of a major initiative in the aluminium sector based on hydro power, was expected to generate spillover economic activities in multiple sectors and create more than 10,000 jobs during construction and 2,000 specialist jobs.
Specific details of these projects, all of which would be led by 1MDB, would be available in due course, he added.
Mubadala and 1MDB said they were starting preliminary assessment work on the SCORE project.
In his speech, Mubadala chief executive officer and managing director Khaldoon Khalifa Al Mubarak said Abu Dhabi viewed Malaysia as an ideal investment platform linking the emirate to this region.
“The Abu Dhabi government is very optimistic about Malaysia’s prospects as an investment destination of choice,” said Khaldoon, who is also special envoy to the Crown Prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces.
At the same event, Najib, who is also chairman of the board of advisers of 1MDB, announced that 1MDB posted a net profit of RM425mil for its first financial year ended March 31.
Sealing the deal: Najib and Khaldoon looking on as 1MDB chief executive officer Shahrol Halmi (right) exchanges the collaboration agreements with Mubadala Development chief operating officer Waleed Al Mokarrab Al Muhairi in Putrajaya yesterday.
PUTRAJAYA: Billions of ringgit in investments are in the pipeline from Abu Dhabi, and are set to flow into two major projects in Kuala Lumpur and Sarawak.
The emirate’s investment unit, Mubadala Development Co, is teaming up with the Government-owned 1Malaysia Development Bhd to participate in property and aluminium ventures in the two areas.
At the signing of two agreements yesterday, Prime Minister Datuk Seri Najib Tun Razak said the first would pave the way for Mubadala’s involvement in the Kuala Lumpur International Financial District (KLIFD) real estate development, which is estimated to cost more than RM26bil.
In the second tie-up, Najib added, Mubadala, through Mubadala Industry, was looking to commit up to US$7bil (RM21.7bil) in long-term projects in the Sarawak Corridor of Renewable Energy (SCORE).
“We are happy that 1MDB and Mubadala see each other as partners in driving strategic initiatives for the long-term sustainable economic development of their countries,” he said.
Mubadala Real Estate and Hospitality (MREH) has agreed to work with 1MDB to explore the potential joint development of key strategic projects within the 34ha KLIFD, near Jalan Tun Razak.
“The full scope of MREH’s participation in the projects to be located within the KLIFD will be finalised in 2011, following completion by 1MDB of the KLFID master plan,” Mubadala and 1MDB said in a joint press statement.
KLIFD will provide a state-of-the-art home for important banking and financial entities.
It is meant to further cement Malaysia’s position as a leader in global Islamic finance.
“The KLIFD is critical in the development of a globally competitive financial sector that will promote economic growth, attract foreign direct investment and create jobs,” Najib said.
“We will invite, encourage and persuade the local and international financial community to work with us, not only in shaping Kuala Lumpur as a global financial centre but also to benefit from what the KLIFD has to offer.”
Najib said the potential investment in SCORE, which is for the development of a major initiative in the aluminium sector based on hydro power, was expected to generate spillover economic activities in multiple sectors and create more than 10,000 jobs during construction and 2,000 specialist jobs.
Specific details of these projects, all of which would be led by 1MDB, would be available in due course, he added.
Mubadala and 1MDB said they were starting preliminary assessment work on the SCORE project.
In his speech, Mubadala chief executive officer and managing director Khaldoon Khalifa Al Mubarak said Abu Dhabi viewed Malaysia as an ideal investment platform linking the emirate to this region.
“The Abu Dhabi government is very optimistic about Malaysia’s prospects as an investment destination of choice,” said Khaldoon, who is also special envoy to the Crown Prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces.
At the same event, Najib, who is also chairman of the board of advisers of 1MDB, announced that 1MDB posted a net profit of RM425mil for its first financial year ended March 31.
Friday, October 1, 2010
奇点大学
奇点大学（Singularity University，简称SU ）奇点大学的名字源于该校的名誉校长、著名未来学家雷·库兹韦尔的“奇点理论”，即在不久后将迎来技术快速进步的时期。
库兹韦尔在其2005年所著的《奇点迫近》一书中，推广了这一理念：在“奇点”来临之时，机器将可通过人工智能进行自我完善，超过人类本身，开启一个新的时代。而一些批评者也对恶意的人工智能或将毁灭整个人类提出了质疑，但谷歌和美国宇航局的支持表明，越来越多的主流机构开始接受库兹韦尔的看法。
奇点大学-地理位置
该校位于硅谷的美国宇航局艾姆士研究中心，距谷歌、雅虎、因特尔和思科等公司仅一步之遥。
奇点大学-目标
“奇点大学”。它的宗旨是汇聚全球最优秀的年轻人才，采用跨学科教学方式，为应对人类面临的气候变化、能源、健康和贫困等重大挑战培养未来领军人物。
建设奇点大学的目标就是能使未来的科学家做好准备，从容应对科技的快速发展，使未来的机器免于伤害人类，继续作为人类的帮手。该校的学生将探索利用科技改善人类困境的途径，解决贫困、饥荒、疾病、全球变暖和能源稀缺等一系列严峻的问题。
奇点大学-组织机构
奇点大学
“奇点大学”由未来学家库日韦尔担任校长，校名和办学理念都借鉴了库日韦尔的“技术奇点”思想。库日韦尔在2005年出版的《奇点临近》一书中提出，随着纳米技术、生物技术和信息技术等以几何级数加速发展，人类的智能在未来几十年中将会大幅提高，人类未来命运也将发生根本性改观。他认为，只有融会贯通地运用高速发展的新技术，才能解决人类面临的能源、环境、医疗和贫困等问题。 科技企业家迪亚曼迪斯出任“奇点大学”的副校长。迪亚曼迪斯目前担任“X大奖基金会”的董事长，该基金会曾因设立高额奖金鼓励开发私人太空飞船等而闻名。迪亚曼迪斯说，“奇点大学”将在全球招收最聪明、最富激情的未来领袖，帮助他们掌握应对人类当前重大挑战的工具等。他指出，创业精神浓厚、风险资本和学术资源丰富的硅谷，是创立这样一所大学的理想之地。
奇点大学-特点
库兹韦尔在其2005年所著的《奇点迫近》一书中，推广了这一理念：在“奇点”来临之时，机器将可通过人工智能进行自我完善，超过人类本身，开启一个新的时代。而一些批评者也对恶意的人工智能或将毁灭整个人类提出了质疑，但谷歌和美国宇航局的支持表明，越来越多的主流机构开始接受库兹韦尔的看法。
奇点大学-地理位置
该校位于硅谷的美国宇航局艾姆士研究中心，距谷歌、雅虎、因特尔和思科等公司仅一步之遥。
奇点大学-目标
“奇点大学”。它的宗旨是汇聚全球最优秀的年轻人才，采用跨学科教学方式，为应对人类面临的气候变化、能源、健康和贫困等重大挑战培养未来领军人物。
建设奇点大学的目标就是能使未来的科学家做好准备，从容应对科技的快速发展，使未来的机器免于伤害人类，继续作为人类的帮手。该校的学生将探索利用科技改善人类困境的途径，解决贫困、饥荒、疾病、全球变暖和能源稀缺等一系列严峻的问题。
奇点大学-组织机构
奇点大学
“奇点大学”由未来学家库日韦尔担任校长，校名和办学理念都借鉴了库日韦尔的“技术奇点”思想。库日韦尔在2005年出版的《奇点临近》一书中提出，随着纳米技术、生物技术和信息技术等以几何级数加速发展，人类的智能在未来几十年中将会大幅提高，人类未来命运也将发生根本性改观。他认为，只有融会贯通地运用高速发展的新技术，才能解决人类面临的能源、环境、医疗和贫困等问题。 科技企业家迪亚曼迪斯出任“奇点大学”的副校长。迪亚曼迪斯目前担任“X大奖基金会”的董事长，该基金会曾因设立高额奖金鼓励开发私人太空飞船等而闻名。迪亚曼迪斯说，“奇点大学”将在全球招收最聪明、最富激情的未来领袖，帮助他们掌握应对人类当前重大挑战的工具等。他指出，创业精神浓厚、风险资本和学术资源丰富的硅谷，是创立这样一所大学的理想之地。
奇点大学-特点
招生与课程设置一览表
学校采用独特的9周教学制，虽然学制很短，但学费高达2.5万美元。在广泛征求诺贝尔奖得主等世界一流学者意见基础上，该校计划设立未来学、网络和计算机、生物技术和生物信息学、纳米技术、医学和神经科学、人工智能、能源、航天和自然科学、法律和伦理、金融等10个领域的课程。 学生入学后在前3周学习上述10类课程，接下来3周每人选择一门课程进行深入学习，最后3周将完成某一具体项目。除研究生水平的9周制课程外，该校还计划开设针对企业高管、为期3天或10天的短期培训项目，以帮助企业高管们了解所在行业的前沿技术，培养前瞻性思维。
“奇点大学”于2009年6月招收首批30名学生，明年计划将招生名额扩大到120名。
奇点大学-相关融资
谷歌已注资该校100多万美元，其他主要的公司也将陆续投入25万多美元以支持学校的建设与发展。
奇点大学-舆论反应
奇点大学由Google和NASA合办
应对未来科技的急速发展并非易事，作为奇点大学教员之一的技术预测家保罗·萨福表示，对于眼前一切的探索十分重要，这样人类就能避免措手不及。他说：“我们所面对的最大的挑战之一就是让公众对现今的发明可带来的后果有所了解，以及他们如何能掌控这一状况。”
2005年库兹韦尔的“奇点论”就引起了轩然大波，舆论、业界纷争四起。如今，奇点大学带着自己的理念“降临人间”，再一次将“奇点”理论和解决之道推到了舆论的风口浪尖上。当Google和NASA宣布将联合建立奇点大学时，这一消息便瞬间被200多家网站转载。随后，Google、NASA“科技毁灭人类”等重量级的字眼频繁出现在网络中，一时间成了舆论津津乐道的话题。 相比较舆论热潮的侵袭，业内的人士却以谨慎的态度质疑着“奇点”理论和奇点大学存在的价值。 一位权威人士在了解了奇点大学的目标和所设立的课程后，表示这一想法和课程设计听起来很棒，“但是，我还是想知道奇点大学的创始人是否真的相信能够通过这些技术来解决贫穷、饥饿和疾病等问题。” 另一些业内人士做出了更加直接的论断：“相比较奇点大学的方法，让这些学生学习哲学、神学、政治学、社会学、历史等领域的学科对于解决社会问题将更加有效。” 这些持怀疑态度的人士普遍在奇点大学的教育方式与其将实现的目标间画上问号，而另一部分人对于奇点大学的建立则采取了更加消极与否定的态度。 《IEEE智能系统》被公认为是国际上人工智能的核心杂志，而它的编委会里几位权威的教授甚至不愿意发表对“奇点”的任何观点。 一位参加了两次“奇点峰会”的人士也表示：“我不会去写任何关于奇点的事情，因为我看不到它的任何价值。” 美国一些专业的信息技术分析人士称：如果奇点大学能够取得那些创始人所想的成就，那当然太好了。但是“奇点峰会”的报告，将科学与科幻搞乱，而奇点大学的结局只能是一场更长、更吃力的“奇点峰会”，绝不会为我们指出未来之道。 一边是舆论的热脸，一边是业内的冷视，奇点大学一出世就成了业界内外的焦点。虽然质疑批评之声不断，但是人们还是看到了奇点大学的雄心，也看到了业界内外对这一新尝试抱有的希望和期待。或者说，无论“奇点”的理念与抱负最终能否实现，奇点大学并没有也不能够被全盘否定，它毕竟为科学的发展注入了新的活力，带来了新的理想，同时也为人们带来了重要的警示与启发。
计算机模拟人类大脑
据美国连线杂志网站8月1 6日报道 人工智能专家、畅销书《奇点迫近》作者雷 库日韦尔说，通过逆向工程让我们得以用计算机模拟人类大脑，可能20年后就能实现。
库日韦尔说，这将是通往创造比人脑更强大的计算机的第一步。这些超级计算机将与一个云计算结构联网，扩展它们的处理能力。同时这些计算机的算法也可能变得更智能。所有这些合在一起就可能创造出终极计算机，帮助我们应对未来的挑战。
计算机超越人类智慧的情况叫作“奇点”，一个通过库日韦尔的书变得更加流行的术语。
库日韦尔对周末举行的奇点峰会与会者说：“对奇点最突出的批评是大脑太复杂、太神奇，它的某些特性是我们无法仿效的。但科技的指数级进步正运用于大脑逆向工程，这堪称历史最重要的项目。”
近十年来，神经科学家、计算机工程师和心理学家一直致力于模拟人脑，以最终创造基于大脑运转方式的计算机。
库日韦尔说，人类听和说某些方面的逆向工程推动了人工听力和语音识别的发展。他说，能够对人脑做同样的事，可能会大大改变我们的世界。
人类大脑逆向工程的关键在于解码和模拟大脑皮层———认知形成的地方。人类大脑皮层约有220亿个神经细胞和220万亿个神经键。
IBM研究人员达尔门德拉 莫达说，有能力运行人脑模拟软件的超级计算机尚未问世。研究人员需要一台计算机至少达到36.8千万亿次(相当于每秒1000万亿次计算)运算能力和3.2千万亿字节存储容量———超级计算机技术至少还需三年才能达到的规模。
莫达在IBM公司阿尔马登研究中心负责认知计算项目。
库日韦尔说：“人们正以不同方式从事大脑逆向工程研究。其目标未必是创建伟大的模拟———真正的目标是弄清大脑运转的原理。”
索尔克生物研究所计算机神经生物学实验室负责人特里 谢伊诺夫斯基也认为，人脑逆向工程已经在可及范围之内。
库日韦尔说，这将是通往创造比人脑更强大的计算机的第一步。这些超级计算机将与一个云计算结构联网，扩展它们的处理能力。同时这些计算机的算法也可能变得更智能。所有这些合在一起就可能创造出终极计算机，帮助我们应对未来的挑战。
计算机超越人类智慧的情况叫作“奇点”，一个通过库日韦尔的书变得更加流行的术语。
库日韦尔对周末举行的奇点峰会与会者说：“对奇点最突出的批评是大脑太复杂、太神奇，它的某些特性是我们无法仿效的。但科技的指数级进步正运用于大脑逆向工程，这堪称历史最重要的项目。”
近十年来，神经科学家、计算机工程师和心理学家一直致力于模拟人脑，以最终创造基于大脑运转方式的计算机。
库日韦尔说，人类听和说某些方面的逆向工程推动了人工听力和语音识别的发展。他说，能够对人脑做同样的事，可能会大大改变我们的世界。
人类大脑逆向工程的关键在于解码和模拟大脑皮层———认知形成的地方。人类大脑皮层约有220亿个神经细胞和220万亿个神经键。
IBM研究人员达尔门德拉 莫达说，有能力运行人脑模拟软件的超级计算机尚未问世。研究人员需要一台计算机至少达到36.8千万亿次(相当于每秒1000万亿次计算)运算能力和3.2千万亿字节存储容量———超级计算机技术至少还需三年才能达到的规模。
莫达在IBM公司阿尔马登研究中心负责认知计算项目。
库日韦尔说：“人们正以不同方式从事大脑逆向工程研究。其目标未必是创建伟大的模拟———真正的目标是弄清大脑运转的原理。”
索尔克生物研究所计算机神经生物学实验室负责人特里 谢伊诺夫斯基也认为，人脑逆向工程已经在可及范围之内。
第四次浪潮：人机合一
美国未来学家、发明家雷•库日韦尔近日预言,2029年人工智能将达到人类智力的水平。 比尔•盖茨也在近日宣称：10年之内，人与计算机的交流将不再通过键盘，而是直接使用语言，甚至意念。而“网络操作系统”也将把全世界的电脑连接成一个“超级大脑”。这幅图景，与库日韦尔的预言多么相近！
芯片植入大脑，人类由此获得电脑般的计算能力和记忆力；计算机无处不在，被植入家具、衣服、眼镜乃至我们的身体中，从而使各种物什都变得“智能化”；比细菌还小的纳米机器人在我们的血管内工作，甚至会进入我们的大脑……这一切听起来只像是科幻小说的情节，即便不是天方夜谭，似乎也不知道能不能真正发生在遥远的未来。然而，这些却的确并非引自科幻小说，而是出自美国未来学家、发明家雷•库日韦尔（Ray Kurzweil）近日所作的预言，库日韦尔称，这一切并不遥远，在二十年后的2029年就会在我们身边实现。
库日韦尔认为，人工智能技术的发展已经可以为我们描绘出一幅不远的将来的人类生活发生巨大变化的蓝图：纳米智能机器人将从毛细血管不知不觉地进入我们的身体，为我们清理体内垃圾、治疗疾病；而另有一种纳米机器人则能够进入我们的大脑，与脑神经元直接发生交互作用，不仅会让我们更加聪明、记忆力惊人，还可以使我们具有用“意念”控制植入了芯片的机器的能力，甚至还可以不用语言而与他人实现“心与心的沟通”。电脑的显示器将完全失去意义，每个人的“脑海”中将自然有一个“显示器”。当你想放松一下的时候，则可以自然进入一个完全虚拟现实的梦幻世界，参与真正“身临其境”的超级电子游戏。与此同时，机器人的发展也将大大超乎我们的想象，二十年后，机器人将具有同人类一样的思想，甚至情感。人与机器将不再界限分明，人类文明进入人机合一的新时代。
与库日韦尔不谋而合的是，比尔•盖茨也在近日宣称：10年之内，人与计算机的交流将不再通过键盘，而是直接使用语言，甚至意念。而“网络操作系统”也将把全世界的电脑连接成一个“超级大脑”。这幅图景，与库日韦尔的预言多么相近！
库日韦尔预言的图景对人类生活的改变是如此之大，又是如此近在眼前，以至于看到这条消息，无法不令人立刻产生出诸如“机器人进攻人类”、“机器与人产生感情的伦理问题”之类的担忧。于是出现了有如赫胥黎反乌托邦名著《美丽的新世界》般的忧虑：美丽的表象背后，是否反而有更大的隐忧？不过且慢，在进行伦理追问之前，我们还应该进行一个先行检验：未来是否真的会——或者说多大程度上应验库日韦尔的预言？
作为世界上第一台光信号文字识别阅读机的发明人、美国国家技术奖获得者，库日韦尔的预言当然不是无根之木。然而，世界科技发展的真实历史却告诉我们：技术的真实发展趋势，往往与人们预见的可能性有着相当大的距离，而更深刻的道理则蕴含在这距离之中。
19世纪70年代，正是城市布满高耸云霄的大烟囱、冒着长烟的火车头呼啸驶过旷野的蒸汽动力时代，与此同时，以电报为代表的电子技术也刚刚开始勃兴。在有案可查的当时的报纸上，科学家对未来的预测是以电为动力的“电马”将取代马匹，拖着马车走在20世纪城市的街道上，而天空中则会飞行着冒着长烟的蒸汽飞机……
从今天的角度看，电马和蒸汽飞机近似于笑话，但在当时却实实在在是具有技术实现可能的“未来”。事实上，法国工程师阿代尔曾经于1890年制造出蒸汽飞机并试飞成功，比公认的飞机鼻祖莱特兄弟早了13年，至今法国人还认为阿代尔才是飞机的发明人。但为什么飞机后来发展的实际技术路线却没有采用蒸汽动力呢？原因在于，飞得起来是一回事，真正有用则是另外一回事。对于商业应用而言，蒸汽动力的飞机难以解决携带大量燃煤的问题，同时不容易获得比较高的速度。电马虽然没有人真正发明过，但对于习惯了“马拉车”的人们来说，却是一个远比未曾梦见的汽车更“自然而然”的设想，但显然，与汽车相比，电马需要先把发动机的活塞运动转化为马腿走路的运动形式，才能前进，比起汽车轮子来，能量利用效率太低了！
归结起来，一项技术要从可能性变成实际可利用，要求是非常苛刻的，必须能够比较简单、低成本地发挥出明显功效，才具有实际利用的可能性。而“技术可实现”这个范围却比实际可利用大得多，但是实现了，只有真正可用，才会进入到人类的生活中。套用《安娜•卡列尼娜》的名言，我们可以说：有用的技术都具有相似的性质，没用的技术各有各的无用之处。
反过来看库日韦尔预言的前景，基本上建立在人们愿意接受在大脑或者日用品里装上计算机硬件的前提之上。问题是：有多少人愿意承受这样做的生理、心理感受及其高昂的价格？
有“未来学之父”之称的阿尔文•托夫勒在其名著《第三次浪潮》中，把人类文明发生跳跃式进步的原因归结为三次浪潮：第一次是农业文明的出现，使“人”脱离于兽，建筑、文字、城市等等文明生活方式得以出现并推广；第二次是工业文明使人类进入现代化；第三次是计算机和信息技术的发展，把人类文明带入信息时代。但从中可以看出的是，技术对人类生活的改变虽然巨大，改变方式却不是跳跃式的，而是“潜移默化”的，也就是说，技术是因为给人类提供了原有生活方式的某种方便而被采用，再反过来影响人类生活的，而不是因为技术可以做到一件事，就强行改变了人类生活的方式。
可以预见，如果出现“第四次浪潮”的话，人工智能将是技术的核心突破所在。但是，人工智能的应用形式，一定是以为人类带来便利的方式，而非强行扭转人类原来生活轨迹的方式出现。（胡应斗 科技网络公司顾问）
芯片植入大脑，人类由此获得电脑般的计算能力和记忆力；计算机无处不在，被植入家具、衣服、眼镜乃至我们的身体中，从而使各种物什都变得“智能化”；比细菌还小的纳米机器人在我们的血管内工作，甚至会进入我们的大脑……这一切听起来只像是科幻小说的情节，即便不是天方夜谭，似乎也不知道能不能真正发生在遥远的未来。然而，这些却的确并非引自科幻小说，而是出自美国未来学家、发明家雷•库日韦尔（Ray Kurzweil）近日所作的预言，库日韦尔称，这一切并不遥远，在二十年后的2029年就会在我们身边实现。
库日韦尔认为，人工智能技术的发展已经可以为我们描绘出一幅不远的将来的人类生活发生巨大变化的蓝图：纳米智能机器人将从毛细血管不知不觉地进入我们的身体，为我们清理体内垃圾、治疗疾病；而另有一种纳米机器人则能够进入我们的大脑，与脑神经元直接发生交互作用，不仅会让我们更加聪明、记忆力惊人，还可以使我们具有用“意念”控制植入了芯片的机器的能力，甚至还可以不用语言而与他人实现“心与心的沟通”。电脑的显示器将完全失去意义，每个人的“脑海”中将自然有一个“显示器”。当你想放松一下的时候，则可以自然进入一个完全虚拟现实的梦幻世界，参与真正“身临其境”的超级电子游戏。与此同时，机器人的发展也将大大超乎我们的想象，二十年后，机器人将具有同人类一样的思想，甚至情感。人与机器将不再界限分明，人类文明进入人机合一的新时代。
与库日韦尔不谋而合的是，比尔•盖茨也在近日宣称：10年之内，人与计算机的交流将不再通过键盘，而是直接使用语言，甚至意念。而“网络操作系统”也将把全世界的电脑连接成一个“超级大脑”。这幅图景，与库日韦尔的预言多么相近！
库日韦尔预言的图景对人类生活的改变是如此之大，又是如此近在眼前，以至于看到这条消息，无法不令人立刻产生出诸如“机器人进攻人类”、“机器与人产生感情的伦理问题”之类的担忧。于是出现了有如赫胥黎反乌托邦名著《美丽的新世界》般的忧虑：美丽的表象背后，是否反而有更大的隐忧？不过且慢，在进行伦理追问之前，我们还应该进行一个先行检验：未来是否真的会——或者说多大程度上应验库日韦尔的预言？
作为世界上第一台光信号文字识别阅读机的发明人、美国国家技术奖获得者，库日韦尔的预言当然不是无根之木。然而，世界科技发展的真实历史却告诉我们：技术的真实发展趋势，往往与人们预见的可能性有着相当大的距离，而更深刻的道理则蕴含在这距离之中。
19世纪70年代，正是城市布满高耸云霄的大烟囱、冒着长烟的火车头呼啸驶过旷野的蒸汽动力时代，与此同时，以电报为代表的电子技术也刚刚开始勃兴。在有案可查的当时的报纸上，科学家对未来的预测是以电为动力的“电马”将取代马匹，拖着马车走在20世纪城市的街道上，而天空中则会飞行着冒着长烟的蒸汽飞机……
从今天的角度看，电马和蒸汽飞机近似于笑话，但在当时却实实在在是具有技术实现可能的“未来”。事实上，法国工程师阿代尔曾经于1890年制造出蒸汽飞机并试飞成功，比公认的飞机鼻祖莱特兄弟早了13年，至今法国人还认为阿代尔才是飞机的发明人。但为什么飞机后来发展的实际技术路线却没有采用蒸汽动力呢？原因在于，飞得起来是一回事，真正有用则是另外一回事。对于商业应用而言，蒸汽动力的飞机难以解决携带大量燃煤的问题，同时不容易获得比较高的速度。电马虽然没有人真正发明过，但对于习惯了“马拉车”的人们来说，却是一个远比未曾梦见的汽车更“自然而然”的设想，但显然，与汽车相比，电马需要先把发动机的活塞运动转化为马腿走路的运动形式，才能前进，比起汽车轮子来，能量利用效率太低了！
归结起来，一项技术要从可能性变成实际可利用，要求是非常苛刻的，必须能够比较简单、低成本地发挥出明显功效，才具有实际利用的可能性。而“技术可实现”这个范围却比实际可利用大得多，但是实现了，只有真正可用，才会进入到人类的生活中。套用《安娜•卡列尼娜》的名言，我们可以说：有用的技术都具有相似的性质，没用的技术各有各的无用之处。
反过来看库日韦尔预言的前景，基本上建立在人们愿意接受在大脑或者日用品里装上计算机硬件的前提之上。问题是：有多少人愿意承受这样做的生理、心理感受及其高昂的价格？
有“未来学之父”之称的阿尔文•托夫勒在其名著《第三次浪潮》中，把人类文明发生跳跃式进步的原因归结为三次浪潮：第一次是农业文明的出现，使“人”脱离于兽，建筑、文字、城市等等文明生活方式得以出现并推广；第二次是工业文明使人类进入现代化；第三次是计算机和信息技术的发展，把人类文明带入信息时代。但从中可以看出的是，技术对人类生活的改变虽然巨大，改变方式却不是跳跃式的，而是“潜移默化”的，也就是说，技术是因为给人类提供了原有生活方式的某种方便而被采用，再反过来影响人类生活的，而不是因为技术可以做到一件事，就强行改变了人类生活的方式。
可以预见，如果出现“第四次浪潮”的话，人工智能将是技术的核心突破所在。但是，人工智能的应用形式，一定是以为人类带来便利的方式，而非强行扭转人类原来生活轨迹的方式出现。（胡应斗 科技网络公司顾问）
Sunday, September 26, 2010
科学家大胆预言：20年后人类可能长生不老
日前一位美国科学家大胆预言，随着纳米技术的发展和对人类身体机能的更深入了解，仅20年后人类便可实现长生不老的梦想。
“金刚不坏之身”不是空想
现年61岁的美国科学家雷·库日韦尔之前曾成功预测过一些新技术的诞生。他表示，人类对基因和电脑技术的了解可谓日新月异，借助这些高尖端科技成果，未来人类修成“金刚不坏之身”绝对不会是空想。
库日韦尔称，理论上说按照人类不断加快的认知速度，20年后便可利用基因技术更换人们身上大部分的重要器官。他进一步指出，虽然他的理论看起来似乎有些遥不可及，但现在人造胰腺和神经植入都已成为现实。
未来人类强健如“终结者”
库日韦尔把他的理论称为“加速返回定律”。他在英国《太阳报》上撰文道：“现在其他很多科学家和我都相信，大概过20年后，我们就能拥有新的技术手段去改编人类古老的身体软件，这样我们就能暂停并逆转衰老。纳米技术能让我们永生。”
“最终，纳米机器人就可以替代血细胞，并以高于血细胞几千倍的效率工作，”库日韦尔说。他预计，在25年内，人们就可以连续15分钟不换气全速奔跑，或者无氧潜水4小时。
他还透露，那些还没换上仿生心脏的心脏病患者，可以很悠闲地开车去医生那里做个小手术，因为患者体内的纳米机器人可以维持他们的生命；基因技术会大大提高人类的智能，以致我们能在几分钟内就写好一本书。
库日韦尔还表示：“如果我们想进入虚拟现实模式，纳米机器人就会关闭我们的脑部信号，然后带我们去任何我们想去的地方……因此我们可以期待半机械人世界的出现，人们将拥有人造肢体和器官。”
如果库日韦尔的预言能够成真，那么未来的人类就如影片《终结者》中的无敌机器人一般勇猛强健，拥有再生超常能力。英国媒体称，虽然很多人都认为库日韦尔的预言极其疯狂，而他本人也是一个得了妄想症的“疯子”，但他其实是麻省理工学院的高材生，甚至还发明了第一部盲人阅读机；在他不做预言家的日子里，库日韦尔其实就是一名严谨的科学家。
“金刚不坏之身”不是空想
现年61岁的美国科学家雷·库日韦尔之前曾成功预测过一些新技术的诞生。他表示，人类对基因和电脑技术的了解可谓日新月异，借助这些高尖端科技成果，未来人类修成“金刚不坏之身”绝对不会是空想。
库日韦尔称，理论上说按照人类不断加快的认知速度，20年后便可利用基因技术更换人们身上大部分的重要器官。他进一步指出，虽然他的理论看起来似乎有些遥不可及，但现在人造胰腺和神经植入都已成为现实。
未来人类强健如“终结者”
库日韦尔把他的理论称为“加速返回定律”。他在英国《太阳报》上撰文道：“现在其他很多科学家和我都相信，大概过20年后，我们就能拥有新的技术手段去改编人类古老的身体软件，这样我们就能暂停并逆转衰老。纳米技术能让我们永生。”
“最终，纳米机器人就可以替代血细胞，并以高于血细胞几千倍的效率工作，”库日韦尔说。他预计，在25年内，人们就可以连续15分钟不换气全速奔跑，或者无氧潜水4小时。
他还透露，那些还没换上仿生心脏的心脏病患者，可以很悠闲地开车去医生那里做个小手术，因为患者体内的纳米机器人可以维持他们的生命；基因技术会大大提高人类的智能，以致我们能在几分钟内就写好一本书。
库日韦尔还表示：“如果我们想进入虚拟现实模式，纳米机器人就会关闭我们的脑部信号，然后带我们去任何我们想去的地方……因此我们可以期待半机械人世界的出现，人们将拥有人造肢体和器官。”
如果库日韦尔的预言能够成真，那么未来的人类就如影片《终结者》中的无敌机器人一般勇猛强健，拥有再生超常能力。英国媒体称，虽然很多人都认为库日韦尔的预言极其疯狂，而他本人也是一个得了妄想症的“疯子”，但他其实是麻省理工学院的高材生，甚至还发明了第一部盲人阅读机；在他不做预言家的日子里，库日韦尔其实就是一名严谨的科学家。
Thursday, September 2, 2010
Nine M’sian firms make it to Forbes’ Best under a Billion
SINGAPORE: Nine Malaysian companies made it to the Forbes Asia’s Best under a Billion list this year compared with eight companies last year, according to Forbes Asia.
Glove maker Hartalega Holdings Bhd, which made it to the list for the first time, was also profiled in the September issue of Forbes Asia.
Other Malaysian companies that made it to the list are CBS Technology Bhd, Coastal Contracts Bhd, Hai-O Enterprise Bhd, KKB Engineering Bhd, Latexx Partners Bhd, Mudajaya Group Bhd, My E.G Services Bhd and Willowglen MSC Bhd.
CBS Technology specialises in RFID (radio frequency identification), e-security and e-procurement services; Coastal Contracts is involved in marine services and vessels while Hai-O is a multi-level marketer of herbal care products.
Besides steel fabrication, KKB manufactures steel pipes and LPG cylinders as well as hot-dip galvanising. Latexx manufactures rubber gloves, Mudajaya is involved in civil engineering and construction services, My E.G is an e-government service provider and Willowglen is a computer-based control system provider.
According to Forbes Asia, more companies are making their maiden appearance on Forbes Asia’s Best under a Billion list this year.
“In all, 151 firms are new on the list, compared with 136 last year, while 49 are returnees. Firms in information technology, healthcare and electronics sectors accounted for close to half of the 200 companies on the list,” Forbes said in a statement yesterday.
The annual Best under a Billion list picks the top-performing 200 firms from close to 13,000 publicly listed Asia-Pacific companies with actively traded shares and sales between US$5mil and US$1bil.
Forbes Asia said the selection of the final 200 was based on earnings growth, sales growth and shareholders’ return on equity in the past 12 months and over three years.
This year, China and Hong Kong have once again outdone the rest of Asia-Pacific with the most number of small and midsize firms represented on the list.
“This is the third consecutive year that both economies have dominated the list with 71 firms making the cut, down from 78 last year,” it said.
India is in the second place with 39 entries, 19 more than last year, thus making it the biggest gainer while South Korea is in the third position with 20 companies, followed by Taiwan with 19 and Australia with 13. Malaysia tied with Thailand for the sixth most number of entries.
The 200 winning companies will be honoured at an award ceremony and dinner in Hong Kong on Nov 23.
Glove maker Hartalega Holdings Bhd, which made it to the list for the first time, was also profiled in the September issue of Forbes Asia.
Other Malaysian companies that made it to the list are CBS Technology Bhd, Coastal Contracts Bhd, Hai-O Enterprise Bhd, KKB Engineering Bhd, Latexx Partners Bhd, Mudajaya Group Bhd, My E.G Services Bhd and Willowglen MSC Bhd.
CBS Technology specialises in RFID (radio frequency identification), e-security and e-procurement services; Coastal Contracts is involved in marine services and vessels while Hai-O is a multi-level marketer of herbal care products.
Besides steel fabrication, KKB manufactures steel pipes and LPG cylinders as well as hot-dip galvanising. Latexx manufactures rubber gloves, Mudajaya is involved in civil engineering and construction services, My E.G is an e-government service provider and Willowglen is a computer-based control system provider.
According to Forbes Asia, more companies are making their maiden appearance on Forbes Asia’s Best under a Billion list this year.
“In all, 151 firms are new on the list, compared with 136 last year, while 49 are returnees. Firms in information technology, healthcare and electronics sectors accounted for close to half of the 200 companies on the list,” Forbes said in a statement yesterday.
The annual Best under a Billion list picks the top-performing 200 firms from close to 13,000 publicly listed Asia-Pacific companies with actively traded shares and sales between US$5mil and US$1bil.
Forbes Asia said the selection of the final 200 was based on earnings growth, sales growth and shareholders’ return on equity in the past 12 months and over three years.
This year, China and Hong Kong have once again outdone the rest of Asia-Pacific with the most number of small and midsize firms represented on the list.
“This is the third consecutive year that both economies have dominated the list with 71 firms making the cut, down from 78 last year,” it said.
India is in the second place with 39 entries, 19 more than last year, thus making it the biggest gainer while South Korea is in the third position with 20 companies, followed by Taiwan with 19 and Australia with 13. Malaysia tied with Thailand for the sixth most number of entries.
The 200 winning companies will be honoured at an award ceremony and dinner in Hong Kong on Nov 23.
Steamships’ stunning results
CONGLOMERATE Steam-ships Trading Co Ltd has had a stunning 75.5% increase in after-tax profit in the half-year to June, to a record K65.9 million, up from K38.2 million.The company's half-year results released to the Australian Stock Exchange showed that total revenues in the six months to 30 June this year had risen by 66% to K366.5 million from K220.8 million the previous year.Directors said: "Hotels, property and shipping divisions have had a solid six months to date, due to strong demand for their services."Divisional accounts showed that shipping and transport was the group's top profit spinner, contributing K32.7 million to group profit, followed by hotels with K14.5 million and property and investment with K14.3 million.Steamships directors said demand for hotel accommodation remained strong and that the Gateway and Ela Beach expansion projects in Port Moresby had been delayed by four months but were nearing completion."The 160-room Grand Papua Hotel development continues on schedule for completion next year," they said.The shipping operations also had a good half-year with high usage rates for vessels and good cost containment.Two newly-purchased barges and two tug boats have been fully commissioned starting last month.Other segments that did well included the stevedoring business and industrial and residential properties in Lae and Port Moresby.The directors said the manufacturing division had a poor start to the year but should see an improvement in the second-half due to consolidation of the Lae facility and an alternate distribution supply chain."The solid performance of the PNG economy, with its continuing stable exchange rate and low interest rates, has meant that the group has, as in previous years, been able to continue to invest with confidence in new projects and assets," they said, adding that long term investments would "grow the company".They said the second-half should see further improvement in earnings as current economic conditions persist "and the LNG project gains traction".
Tuesday, August 31, 2010
K500m to upgrade Jackson Airport: Polye
THE next five years will see an upgrading of the Jackson Airport at a cost of K500 million.Deputy Prime Minister Don Polye, who is also Minister for Works and Transport, said certain sections of the community had criticised the decision to upgrade the airport, describing it as wasteful.He said they must realise that the airport was the gateway to the country.“We cannot really talk about realising the full potential of tourism when the gateway to this country is substandard,” he told the Moss Capital (Pacific) PNG international conference on Monday.He said certain infrastructure and their proper maintenance were needed to enable development to take place.“Various programmes are currently underway to ensure that plans and projects in land reforms, land and maritime transport infrastructure are achieved.”He also gave an assurance that the National Airports Corporation would focus on improving the cash flow from commercial investments to ensure that the airport was profitable.Polye thanked the organisers of the conference which, he said, would further strengthen ties between the two countries.“As a government, we always welcome unlimited foreign investment into the country to capture the opportunities created by the LNG and other similar projects.“We are committed to maximising local content in all foreign investment, industry growth and entrepreneurial activities.“Ultimately, it is the intention of the Somare-Polye government to ensure that opportunities for wealth creation must be accessible to all Papua New Guineans,” he said.He said that as envisaged in Vision 2050, economic growth and wealth creation would come through agriculture, down streaming processing, enhanced manufacturing activities, infrastructure development and sustained delivery of goods and services.
Thursday, August 19, 2010
Tosali: ’10 budget sees K533.3 million surplus
By ALISON ANIS
THE 2010 budget would have a surplus of K533.3 million, 2.1% of the gross domestic product (GDP), according to current estimates released by Secretary for Finance and Treasurer Simon Tosali.Tosali said the estimated surplus was due to the strengthening of global economic recovery and strong domestic economic growth.“The additional revenue of K533.3 available would be spent through a supplementary budget as government continues to have competing expenditure pressures such as the LNG commitments and legal obligations,” Tosali told participants at the three-day national development forum in Port Moresby organised by Consultative Implementation Monitoring Council (CIMC).He said total expenditure was expected to be K7.6 billion this year, with K4.2 billion in recurrent budget and just over K2 billion for the development budget.He explained the higher recurrent budget in 2010 reflected the expected overspends in personal emoluments, by national departments and provincial governments.“The Department of Treasury has taken action by establishing a payroll project team to investigate the causes of these overruns … it has also written to the heads of those agencies seeking their explanations of their overruns,” Tosali said.On the development budget, he said the increased development component is for the payment of remaining business development grants related to the PNG LNG project while grants and ITC had also increased this year.Tosali said total government revenue and grants of K1.8 billion was a lot higher than the outcome last year and this due largely to the higher receipts from the mining and petroleum tax (MPT) collected in the first of the year.The higher MPT estimate is due to an upward revision to commodity price assumptions.“PNG’s economy is expected to strengthen this year with the commencement of PNG LNG gas project and other mining-related projects as well as a rebound in a number o sectors following softer conditions last year.“In addition, growth is also expected to be supported by the improvement in global trade as commodity prices of PNG’s major exports strengthens on the back of growing confidence in the global economic recovery.”
THE 2010 budget would have a surplus of K533.3 million, 2.1% of the gross domestic product (GDP), according to current estimates released by Secretary for Finance and Treasurer Simon Tosali.Tosali said the estimated surplus was due to the strengthening of global economic recovery and strong domestic economic growth.“The additional revenue of K533.3 available would be spent through a supplementary budget as government continues to have competing expenditure pressures such as the LNG commitments and legal obligations,” Tosali told participants at the three-day national development forum in Port Moresby organised by Consultative Implementation Monitoring Council (CIMC).He said total expenditure was expected to be K7.6 billion this year, with K4.2 billion in recurrent budget and just over K2 billion for the development budget.He explained the higher recurrent budget in 2010 reflected the expected overspends in personal emoluments, by national departments and provincial governments.“The Department of Treasury has taken action by establishing a payroll project team to investigate the causes of these overruns … it has also written to the heads of those agencies seeking their explanations of their overruns,” Tosali said.On the development budget, he said the increased development component is for the payment of remaining business development grants related to the PNG LNG project while grants and ITC had also increased this year.Tosali said total government revenue and grants of K1.8 billion was a lot higher than the outcome last year and this due largely to the higher receipts from the mining and petroleum tax (MPT) collected in the first of the year.The higher MPT estimate is due to an upward revision to commodity price assumptions.“PNG’s economy is expected to strengthen this year with the commencement of PNG LNG gas project and other mining-related projects as well as a rebound in a number o sectors following softer conditions last year.“In addition, growth is also expected to be supported by the improvement in global trade as commodity prices of PNG’s major exports strengthens on the back of growing confidence in the global economic recovery.”
Patel: More business ops here
PAPUA New Guinea is a country that still has a lot to offer in terms of investments and other business opportunities.Speaking at last month’s inaugural Pacific investment summit in Australia, City Pharmacy Ltd (CPL) Group PNG chairman Mahesh Patel said CPL group is committed to further investments through housing projects, cinema complexes, hardware business and various retail formats as the opportunity and demand for these were very high.Patel said the CPL group has so far set up City Pharmacy outlets in all Stop N Shop supermarkets in Port Moresby and other big supermarkets in the country and had also ventured into the building sector with their Hardware Haus.He said also they had signed joint ventures and affiliated themselves to other companies who have an interest in working in the country.He said to date, most investments had been limited to super funds, with Nasfund being the single largest investor in their group, and there were ample opportunities for various investment vehicles to do so.“There are opportunities for financial investors and businesses alike either in joint ventures, franchises, partnerships, supply lines or just business facilitation,” Patel said.He said with every challenge comes an opportunity which the CPL Group has capitalised on in terms of providing social, sporting and community services that have given their business the drive to work harder and earn double digit revenues year after year.CPL Group boasts a staff number of almost 2,000 (98% of whom are PNG citizens) and a group turnover in access of K300 million.The company was listed in the Port Moresby Stock Exchange in 2002 at a par value of K1 per share.Following a 3 to 1 share split in 2007, the shares currently trade at K2.95.
Oil palm estate to expand, double output
AKAMI Oil Palm (AOP) project, an independent estate near Kimbe in West New Britain, will double its production using a K5.3 million loan from the National Development Bank that will finance new plantations.AOP managing director Albert Camillus told The National currently, the company produces a minimum of 240 tonnes annually from a land just less than 200ha.Cammilus said NDB’s assistance would increase its productivity and help it acquire a new block of plantation.Camillus, who came from Nuku in the West Sepik, is now a proud owner of a multi-million kina oil palm project.He is one of the many in the province that supply oil palm fruits to New Britain Palm Oil.Nuku MP and Minister for Housing Andrew Kumbakor, who witnessed the loan presentation, lauded AOP for becoming a medium-sized oil palm entrepreneur.“Oil palm alone has K1 billion in exports earnings and getting serious in such medium-scale project is the way forward to go.“Compared to other agriculture-based export commodities, oil palm is the singles biggest earner and the government should look more seriously into expanding and encouraging locals to get into serious business in the industry.”The other two NDB clients that received loans were KK & Sons from Mt Hagen for a total of K1.6 million for equipment and plant hire, while Madang Bakery received K500,000 for redevelopment.
Tuesday, August 17, 2010
InterOil reports drop in net profit
INTEROIL has reported a US$1.6 million drop in net profit to US$7.8 million for the second quarter ending June 30, from the US$9.4 million posted during the same period last year.However, the company said its balance sheet and liquidity had remained strong with cash equivalents and cash restricted of US$50.9 million.Its operations – refining and downstream operating segments – derived a net profit for the quarter of US$17.6 million, while the upstream and midstream liquefaction development segments had a net loss of US$8.3 million due to higher exploration expenses.The earnings before interest, taxes, depreciation and amortisation for the quarter was US$14.9 million, compared with US$17.9 million in the same quarter of last year, down US$3 million.Sales and operating revenue increased by US$$76.8 million from US$148.5 million to US$225.3 million.InterOil said the refinery and distribution operating businesses generated earnings of US$24 million before interest, taxes, depreciation and amortisation (EBITDA) during the quarter.This amount offset expenditures from the developing upstream and liquefaction businesses, resulting in a net US$14.9 million in EBITDA on a consolidated basis.Chief executive officer Phil Mulacek said: “We are pleased that our forward momentum has been sustained well into 2010.”“Our delineation drilling results continue to demonstrate the value of our reservoir at Antelope 2, and the finalisation of the joint venture operating agreement with Mitsui & Co is another step in our strategy to monetise our liquid resources at the Elk and Antelope fields.“These accomplishments, combined with our strong balance sheet and the financing we have in place, will enable us to support our continued growth and operational success,” Mulacek said.
Sunday, August 15, 2010
InterOil secures further capital of US$25m
PACIFIC LNG Ltd has advanced US$25 million (K67.5 million) to InterOil as additional capital to enable the gas company accelerate its upstream operations.The funding will also allow InterOil to pre-invest with Pacific’s partner Mitsui and, thus, advance the condensate stripping project (CSP).InterOil and Mitsui recently announced a joint venture operating agreement on CSP.Pacific LNG president Henry Aldorf said: “We are pleased to provide additional capital to InterOil in order to accelerate its upstream operations and pre-invest with out partner Mitsui …”Aldorf disclosed that InterOil was drilling its second horizontal well at Antelope-2.He said the well was targeting a higher condensate-to-gas ratio deeper in the reservoir, which can only enhance an already high rate of return project and add resources to the year-end 2009 of 9.1 TCFE (trillion standard cubit feet equivalent).Aldorf said InterOil’s second rig arrived at its refinery in the country and was waiting to be deployed to the field in the fourth quarter following modifications for jungle drilling in this now proven basin.The term loan facility matures in Jan 31 next year and will be used for upstream development and general corporate expenses.InterOil also agreed to pledge Clarion Finanz with a 2.5% interest in the Elk and Antelope fields as collateral.InterOil chief financial officer Collin Vissagio said they were pleased to have obtained this facility which would allow them to maintain financial flexibility while seeking potential industry investors in the two fields.
Airfare war
FLYING between Cairns, Australia and Port Moresby has all of a sudden become very affordable, with the price of a one-way ticket on Air Niugini costing just under K400.The introduction of a QantasLink service from Cairns to Port Moresby last month has sparked a price war between airlines.Air Niugini has launched all-inclusive airfares from A$175 one-way for travel from August to the end of October, making it cheaper to travel to Port Moresby from Cairns than from that city to Brisbane, Sydney and Melbourne.The cheapest airfares to those Australian capital cities yesterday ranged from A$169 from Cairns to Brisbane and up to A$389 to Sydney or Melbourne with Jetstar, the Cairns Post newspaper said.Air Niugini is also offering triple loyalty points until the sale ends on Aug 31.QantasLink, meanwhile, is offering one-way, all-inclusive fares from A$248 and double points to frequent flyers on its direct service.Airlines PNG is offering all-inclusive regular fares from A$200 one-way on the same route.Air Niugini spokesman Colin Lyttle said the “very aggressive” airfare was introduced to compete with QantasLink.“We wanted to remind our customers we operate nine times a week in and out of Cairns,” he said.Lyttle said Air Niugini was considering adding another two services to the Cairns to Port Moresby route.A QantasLink spokeswoman said the airline was “extremely pleased” with passenger numbers on its new direct service.It operated 12 services a week from Cairns to Port Moresby.“We began the service because there is a great demand from mining and resources business people based in Queensland and Cairns,” she said.There are now 23 return services from Cairns to Port Moresby each week.
Wednesday, August 11, 2010
Indon palm oil firm cleared of charges
JAKARTA: Indonesia’s biggest palm oil producer said yesterday it had been cleared of allegations made by environmental group Greenpeace that it had destroyed high conservation-value forests on Borneo.A report commissioned by SMART, part of the Singapore-listed Sinar Mas agri-business group, found that it was not to blame for widespread destruction of Borneo’s forests as repeatedly alleged by Greenpeace, the company said.“The report concluded that the allegations were largely unfounded and that SMART was not responsible for deforestation of primary forests and the destruction of orangutan habitats,” SMART president Daud Dharsono said.The investigation was carried out by Control Union Certifications and BSI Group.SMART, the Indonesian palm oil unit of its Singapore-listed parent company Golden Agri Resources (GAR) and part of the Sinar Mas agri-industry empire, commissioned the probe in February after the claims were first made by Greenpeace.Greenpeace accuses SMART of widespread forest destruction, including clearing primary forests and peatland.GAR has lost major clients including Unilever, Kraft and Nestle over environmental concerns.SMART’S Dharsono said yesterday: “All the land in the 11 concessions examined comprised of secondary forests, degraded and shrub land and were no longer primary forests before SMART started land clearing and planting.” –AFP
Tuesday, August 10, 2010
InterOil finalises JV deal with Mitsui
INTEROIL Corp last week announced the finalised joint venture operating agreement (JVOA) for its proposed condensate stripping plant (CSP) with Mitsui & Co Ltd.The JVOA sets out the rights and obligations of the participants to develop a CSP at InterOil’s Elk and Antelope field sites in the Gulf province.It replaces the preliminary joint venture agreement announced last April.This agreement allows InterOil and Mitsui to each have 50% ownership stake, before the government of PNG’s statutory right could acquire up to 22.5% in the CSP.The CSP design is expected to process approximately 400 million standard cubic feet per day (mmscf/day) of well-head gas with an anticipated yield of about 9,000 barrels (bbls) of condensate per day.Located roughly 30km southwest of the fields, the wells and condensate transport from the CSP will be the responsibility of the Elk and Antelope fields owners.
Monday, August 9, 2010
Why Indons replaced M'sia as top palm oil producer?
Commodities Talk - By Hanim Adnan
Malaysian palm oil sector must not lose its focus
INDONESIA’S taking over Malaysia as the world’s largest crude palm oil (CPO) producer in 2006 had often been associated with the mammoth size of the oil palm planted areas.
In fact, many however failed to comprehend that it was the much increased CPO production in the ensuing years – mainly in terms of higher fresh fruit bunches yield and oil extraction rates – that significantly set Indonesia far ahead from Malaysia’s continued stagnanting CPO production.
This year CPO production in Indonesia is targeted to hit 21.5 million tonnes versus Malaysia’s 17.5 million tonnes.
Within five years, the former is also targeted to produce 27 million tonnes annually while Malaysia production is still expected to linger at 17 million to 18 million tonnes.
While the glaring shift in the CPO production epicentre from Malaysia to Indonesia had resulted in changes in the supply equation, some market observers now fear that Malaysian plantation stocks could also stand to lose out on its attractiveness among international investors and fund managers.
Historically, the oil palm plantation sector in Indonesia had been the domain of state-owned companies. However, the early 1990s saw many private companies entering the industry, lured by attractive margins.
Now it is said that 60% of the 7 million ha total planted area is owned by private companies, of which many have been seeking listing on the Stock Exchange of Singapore (SGX) and the Jakarta Stock Exchange (JSX).
More recently, some quarters claim that regional plantation analysts have been putting foreign plantation groups like Indofood Agri and Wilmar International on their radar instead of the lacklustre rating given to Malaysian planters, which also have sizeable plantations in Indonesia.
Some say the shift to foreign-listed plantation groups, particulary Indonesia, could be due to its status as the world number one CPO producer and gradually being recognised as the future CPO price benchmark setter instead of Malaysia.
In fact, the Indonesian authorities had been busy setting up new CPO contracts to rival that of Malaysia’s Bursa Derivatives Exchange CPO futures (FCPO).
The FCPO is currently the world price benchmark for CPO.
In July last year, Indonesia launched its own CPO physical contract under the Jakarta Futures Exchange (JFE) and last April, a CPO futures contract was launched via the Indonesia Commodity and Derivatives Exchange (ICDX).
While these two Indonesian CPO contracts may still have yet to generate significant liquidity in their markets, there is a looming threat to Malaysia’s FCPO given the participation of many big names in the Indonesian oil palm industry in ICDX and JFE.
Therefore, with the multi-challenges faced by the local oil palm sector, it is pertinent to keep the momentum in terms of improving the stagnanting CPO production, focusing on aggressive replanting with higher-yielding clones, promoting more downstream industries and continuous roadshows among listed plantation companies to generate interest among international fund managers.
While Malaysia may no longer reign as the world’s number one CPO producer, it must try its best not to lose out on its current spot as the world’s largest exporter of palm oil products.
Deputy news editor Hanim Adnan believes that issues pertaining to oil palm production can be handled amicably should the Goverment enforce stricter replanting rules while the private sector must not be hesitant to undertake replanting despite the current attractive CPO price.
Malaysian palm oil sector must not lose its focus
INDONESIA’S taking over Malaysia as the world’s largest crude palm oil (CPO) producer in 2006 had often been associated with the mammoth size of the oil palm planted areas.
In fact, many however failed to comprehend that it was the much increased CPO production in the ensuing years – mainly in terms of higher fresh fruit bunches yield and oil extraction rates – that significantly set Indonesia far ahead from Malaysia’s continued stagnanting CPO production.
This year CPO production in Indonesia is targeted to hit 21.5 million tonnes versus Malaysia’s 17.5 million tonnes.
Within five years, the former is also targeted to produce 27 million tonnes annually while Malaysia production is still expected to linger at 17 million to 18 million tonnes.
While the glaring shift in the CPO production epicentre from Malaysia to Indonesia had resulted in changes in the supply equation, some market observers now fear that Malaysian plantation stocks could also stand to lose out on its attractiveness among international investors and fund managers.
Historically, the oil palm plantation sector in Indonesia had been the domain of state-owned companies. However, the early 1990s saw many private companies entering the industry, lured by attractive margins.
Now it is said that 60% of the 7 million ha total planted area is owned by private companies, of which many have been seeking listing on the Stock Exchange of Singapore (SGX) and the Jakarta Stock Exchange (JSX).
More recently, some quarters claim that regional plantation analysts have been putting foreign plantation groups like Indofood Agri and Wilmar International on their radar instead of the lacklustre rating given to Malaysian planters, which also have sizeable plantations in Indonesia.
Some say the shift to foreign-listed plantation groups, particulary Indonesia, could be due to its status as the world number one CPO producer and gradually being recognised as the future CPO price benchmark setter instead of Malaysia.
In fact, the Indonesian authorities had been busy setting up new CPO contracts to rival that of Malaysia’s Bursa Derivatives Exchange CPO futures (FCPO).
The FCPO is currently the world price benchmark for CPO.
In July last year, Indonesia launched its own CPO physical contract under the Jakarta Futures Exchange (JFE) and last April, a CPO futures contract was launched via the Indonesia Commodity and Derivatives Exchange (ICDX).
While these two Indonesian CPO contracts may still have yet to generate significant liquidity in their markets, there is a looming threat to Malaysia’s FCPO given the participation of many big names in the Indonesian oil palm industry in ICDX and JFE.
Therefore, with the multi-challenges faced by the local oil palm sector, it is pertinent to keep the momentum in terms of improving the stagnanting CPO production, focusing on aggressive replanting with higher-yielding clones, promoting more downstream industries and continuous roadshows among listed plantation companies to generate interest among international fund managers.
While Malaysia may no longer reign as the world’s number one CPO producer, it must try its best not to lose out on its current spot as the world’s largest exporter of palm oil products.
Deputy news editor Hanim Adnan believes that issues pertaining to oil palm production can be handled amicably should the Goverment enforce stricter replanting rules while the private sector must not be hesitant to undertake replanting despite the current attractive CPO price.
Sunday, August 8, 2010
PM urges ANZ to invest in micro-lending,banking
By PATRICK TALU
PRIME Minister Sir Michael Somare has urged the Australia & New Zealand Bank Group to create a micro-financing and banking scheme in Papua New Guinea to help the rural people.Sir Michael pointed out that this was the best way to protect and grow their savings.In his keynote address at a gala night last Friday to celebrate the 100th year of ANZ banking services in the country, he said: “I would like to encourage you to look at micro-financing and micro-banking so that you can extend your services by catering for developments taking place all around the country.”Sir Michael said this year the economy was anticipated to grow by about 8.5%, of which 3% would be attributed to construction activities at the liquefied natural gas project.He said all this prosperity was relevant to investors like ANZ Bank which is already one of the more profitable banks in PNG.“You have had a 100 years of experience in the country. “The people of PNG have supported the ANZ Bank all these years and will continue to do so as long as you are here.“I encourage ANZ to help rural people to protect and grow their savings.“I know that your investment will be invaluable to the communities … it will be challenging for you but I believe it will be worth it when you look back a few years from today,” Sir Michael said. The Prime Minister said with the combined experience of ANZ’s top management team in the Asia Pacific region, it can tap into that knowledge to extend services across the country.“With the technology that is available today, I am sure ANZ can provide innovative options to all its existing and potential customers.“Now, more than ever, is the time to reach out to the “unbanked” population of PNG and the Pacific,” Sir Micahel said.
PRIME Minister Sir Michael Somare has urged the Australia & New Zealand Bank Group to create a micro-financing and banking scheme in Papua New Guinea to help the rural people.Sir Michael pointed out that this was the best way to protect and grow their savings.In his keynote address at a gala night last Friday to celebrate the 100th year of ANZ banking services in the country, he said: “I would like to encourage you to look at micro-financing and micro-banking so that you can extend your services by catering for developments taking place all around the country.”Sir Michael said this year the economy was anticipated to grow by about 8.5%, of which 3% would be attributed to construction activities at the liquefied natural gas project.He said all this prosperity was relevant to investors like ANZ Bank which is already one of the more profitable banks in PNG.“You have had a 100 years of experience in the country. “The people of PNG have supported the ANZ Bank all these years and will continue to do so as long as you are here.“I encourage ANZ to help rural people to protect and grow their savings.“I know that your investment will be invaluable to the communities … it will be challenging for you but I believe it will be worth it when you look back a few years from today,” Sir Michael said. The Prime Minister said with the combined experience of ANZ’s top management team in the Asia Pacific region, it can tap into that knowledge to extend services across the country.“With the technology that is available today, I am sure ANZ can provide innovative options to all its existing and potential customers.“Now, more than ever, is the time to reach out to the “unbanked” population of PNG and the Pacific,” Sir Micahel said.
Thursday, July 29, 2010
K25 million Chinese grant for Ramu road
By PATRICK TALU
THE Chinese government yesterday announced a K25 million grant for the construction of a 20km public road in the vicinity of the Ramu nickel project in Madang.The fund was made available at the request of the Ramu nickel and cobalt project developer Ramu NiCo. Ramu NiCo president Luo Shu told a Port Moresby media conference that the road would be built from the Usino junction to Yamagi in the Ramu project’s Kurumbukari mining area.“I am proud to announce the additional commitment Ramu NiCo has negotiated from the Chinese government for the benefit of the people of the project area,” Luo said.“This grant is an indication of China’s commitment to the project and to PNG and is welcomed by the project owners. “We look forward to working in close cooperation with all Madang citizens in promoting the sustainable development of this province’s significant natural wealth.“We want to ensure that the people enjoy the benefits brought about by the project.”Luo said China viewed Papua New Guinea as a place of opportunity and its commitment to invest remained paramount.She expects construction to start as soon the government signed the necessary papers.The road is catered for in the current memorandum of agreement Ramu NiCo signed with the national and provincial governments and the resource owners and the project developer.
THE Chinese government yesterday announced a K25 million grant for the construction of a 20km public road in the vicinity of the Ramu nickel project in Madang.The fund was made available at the request of the Ramu nickel and cobalt project developer Ramu NiCo. Ramu NiCo president Luo Shu told a Port Moresby media conference that the road would be built from the Usino junction to Yamagi in the Ramu project’s Kurumbukari mining area.“I am proud to announce the additional commitment Ramu NiCo has negotiated from the Chinese government for the benefit of the people of the project area,” Luo said.“This grant is an indication of China’s commitment to the project and to PNG and is welcomed by the project owners. “We look forward to working in close cooperation with all Madang citizens in promoting the sustainable development of this province’s significant natural wealth.“We want to ensure that the people enjoy the benefits brought about by the project.”Luo said China viewed Papua New Guinea as a place of opportunity and its commitment to invest remained paramount.She expects construction to start as soon the government signed the necessary papers.The road is catered for in the current memorandum of agreement Ramu NiCo signed with the national and provincial governments and the resource owners and the project developer.
Monday, July 26, 2010
Polye to contest PM’s post
By ISAAC NICHOLAS
ACTING Prime Minister Don Polye has made known his intentions to contest the prime minister’s post.Polye said he would make public his candidacy at the National Alliance party convention in the Jiwaka region next month.He told reporters that there must be a strike of balance between all the other regions of the country, with Paias Wingti being the only prime minister from the region.“Now is the time to give a chance to the highlands region,” Polye said.He was speaking after announcing the ministerial portfolios of the new ministers last Thursday.“With the new ministries, I do not think the Somare-Polye government will fall.“The opposition cannot go and oust a government when you do not have a notice in parliament,” Polye said.He said the opposition was trying to mislead the public and create instability within government.The new cabinet ministers and their portfolios are Lucas Dekena (Lands), Francis Potape (Climate Change), Moses Maladina (Trade), Benjamin Poponawa ( Civil Aviation and Immigration), John Pundari (Mining), Timothy Bonga (Forest), Guma Wau (Culture and Tourism) and Fidelis Semoso (Bougainville Affairs).The climate change, trade and immigration are new ministries.“I ask the people of PNG, the public and private sectors to accord the new ministers their full support and cooperation.”Polye said the new team would be the backbone of the new-look Somare-Polye government, stressing that the team would not be moved in any political horse trading.He said the aim of the new group was to go into cabinet to discuss and review some of the controversial and much debated issues such as the amendments to the Ombudsman Commission Act.He said other bills brought before parliament would also be reviewed by the new leaders.“Nation building is not only to do with individuals with picks and shovels, plants and equipment or saws and hammers,’’ Polye said. “It is more so with the building of the culture in the mind and heart of hard work, strive, thrifty, industrious, honesty and justice in Papua New Guineans, children, women and men.“A society of high standard in values and principles is what we must build,” Polye said.Trade Minister Moses Maladina said the Ombudsman Commission Bill was introduced as a private member’s bill and he would also bring that up in cabinet for further disussion.
ACTING Prime Minister Don Polye has made known his intentions to contest the prime minister’s post.Polye said he would make public his candidacy at the National Alliance party convention in the Jiwaka region next month.He told reporters that there must be a strike of balance between all the other regions of the country, with Paias Wingti being the only prime minister from the region.“Now is the time to give a chance to the highlands region,” Polye said.He was speaking after announcing the ministerial portfolios of the new ministers last Thursday.“With the new ministries, I do not think the Somare-Polye government will fall.“The opposition cannot go and oust a government when you do not have a notice in parliament,” Polye said.He said the opposition was trying to mislead the public and create instability within government.The new cabinet ministers and their portfolios are Lucas Dekena (Lands), Francis Potape (Climate Change), Moses Maladina (Trade), Benjamin Poponawa ( Civil Aviation and Immigration), John Pundari (Mining), Timothy Bonga (Forest), Guma Wau (Culture and Tourism) and Fidelis Semoso (Bougainville Affairs).The climate change, trade and immigration are new ministries.“I ask the people of PNG, the public and private sectors to accord the new ministers their full support and cooperation.”Polye said the new team would be the backbone of the new-look Somare-Polye government, stressing that the team would not be moved in any political horse trading.He said the aim of the new group was to go into cabinet to discuss and review some of the controversial and much debated issues such as the amendments to the Ombudsman Commission Act.He said other bills brought before parliament would also be reviewed by the new leaders.“Nation building is not only to do with individuals with picks and shovels, plants and equipment or saws and hammers,’’ Polye said. “It is more so with the building of the culture in the mind and heart of hard work, strive, thrifty, industrious, honesty and justice in Papua New Guineans, children, women and men.“A society of high standard in values and principles is what we must build,” Polye said.Trade Minister Moses Maladina said the Ombudsman Commission Bill was introduced as a private member’s bill and he would also bring that up in cabinet for further disussion.
Friday, July 23, 2010
8 new faces join cabinet
PRIME Minister Sir Michael Somare has rewarded the highlands region with five new faces in cabinet for helping him fight off a spirited bid to remove him from office.The prime minister ended a tumultuous week by appointing eight new ministers to an expanded cabinet, and promoting National Alliance party highlands region leader Don Polye to deputy prime minister.In a week of uncertainty which saw Deputy Prime Minister Puka Temu and Minister Belden Namah (Forest) and Charles Abel (Tourism) walk out to join forces with the opposition to topple the prime minister, all eyes were on Polye and his group.The highlands bloc held the key to the government’s survival, and were talking to the opposition while negotiating with Somare.When the notice of a motion of no-confidence was lodged with the speaker yesterday morning, they decided to remain with the prime minister.They were rewarded with the appointment of Polye as deputy prime minister and Benjamin Poponawa (Tambul-Nebilyer, NA), Lucas Dekena (Gumine, NA), Guma Wau (Kerowagi, URP), John Pundari (Kompiam-Ambum, PP) and Francis Potape (Komo-Margarima, URP) were made ministers.The other new ministers were Timothy Bonga (Nawaeb, NA), Moses Maladina (Esa’ala, RDP) and Fidelis Semoso (Bougainville, NA).Bonga takes the forestry portfolio vacated by Namah, Wau replaced Abel and Semoso is Minister for Bougainville Affairs.The portfolio of the other five ministers will be made known today.The prime minister said he would work on the determinations for the new ministries being created, and then announced them before he leaves for Fiji today for a regional leaders’ meeting.He said this was only a precursor to a major cabinet reshuffle to be announced in two weeks time.He described the new ministers appointed as well credentialed men who were well versed in politics.Sir Michael said the additional ministries would come out from the more-than-one portfolios looked after by individual MPs such as mining, lands, physical planning and civil aviation.Polye will be acting prime minister when Sir Michael leaves for Fiji.
Crowne Plaza boss wins top award
By GEEJAY MILLI
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THE much-coveted award from the Intercontinental Hotels Group for this year went to Crowne Plaza Port Moresby’s general manager Tim Pollock.The awards event was hosted in Singapore last week.The award has been considered an achievement not only for the Crowne Plaza but also for Papua New Guinea because the recognition covers countries in the Asia-Australasia region.Other participating nations included countries in Asia, the Pacific and Australia and New Zealand.The award had drawn attention to the vast potential that PNG has as a country in what it has to offer.The general manager’s award of the year looks at categories of financial management of the hotel, guest experience, how well the hotel does as a responsible business and community relations.Pollock received a surprise welcome back from the hotel personnel who expressed pride over his feat.“I am very honoured to have won the award I am privileged to be the GM of this hotel but I am just part of the achievement,” Pollock said.“It is the people who are a big part of this, and I would encourage the staff to keep up the great effort,” he continued.Pollock, who previously lived in PNG, is in his third year as Crowne Plaza general manager.
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THE much-coveted award from the Intercontinental Hotels Group for this year went to Crowne Plaza Port Moresby’s general manager Tim Pollock.The awards event was hosted in Singapore last week.The award has been considered an achievement not only for the Crowne Plaza but also for Papua New Guinea because the recognition covers countries in the Asia-Australasia region.Other participating nations included countries in Asia, the Pacific and Australia and New Zealand.The award had drawn attention to the vast potential that PNG has as a country in what it has to offer.The general manager’s award of the year looks at categories of financial management of the hotel, guest experience, how well the hotel does as a responsible business and community relations.Pollock received a surprise welcome back from the hotel personnel who expressed pride over his feat.“I am very honoured to have won the award I am privileged to be the GM of this hotel but I am just part of the achievement,” Pollock said.“It is the people who are a big part of this, and I would encourage the staff to keep up the great effort,” he continued.Pollock, who previously lived in PNG, is in his third year as Crowne Plaza general manager.
Gas project: Engine to propel economy
THE PNG liquefied natural gas (LNG) project offers a means to unlock value from the extensive gas resources and has the potential to transform the country’s economy.According to an assessment of the direct and indirect impacts of the proposed LNG project on the economy by Australia-based analyst ACIL Tasman Pty Ltd, the LNG will boost gross domestic product (GDP) and export earnings, providing a major increase in government revenue, royalty payments to landowners, creating employment opportunities during construction and operation, and providing a catalyst to further gas-based industry development.The analysis, which was approved by ExxonMobil, indicated that the benefits from the project would spread throughout the economy as the government applies the earnings from its substantial share of the project revenues to social and economic programmes.The analysis said: “This LNG project has the potential to improve the quality of life in PNG by providing essential services and enhancing the country’s productivity.“Benefits would also flow through the economy as the wages and salaries of project staff are spent and as suppliers provide a range of goods and services to the project.“Landowners stand to benefit from direct payments of royalties on production of gas and associated petroleum products, as well as improved social and economic infrastructure.”ACIL projected that the potential direct benefits offered by the LNG project are expected to flow from the following:1) Capital investment in LNG production and support facilities;2) Upstream gas production and processing development, pipelines, storage and other infrastructure, employment, direct cash flows to government and landowners in the form of taxes, royalties, development levies and other charges; and3) Returns on equity participation, potential for increased petroleum exploration and production (E&P) activity in the country.
NGE spuds first exploration well
NEW Guinea Energy (NGE) spudded its first exploration well at Panakawa oil prospecting licence in Gulf province last June 25, according to a statement to the Australian Stock Exchange yesterday.The drilling programme is managed by contractor Australian Drilling Services, using its contracted rig #6.Work has been progressing well for the last 10 daysThe Panakawa oil prospect is located in PPL 267.It was initially identified as a lead from the Yalis phase I seismic survey completed in 2006, and further delineated by the Yalis phase II seismic survey (Q3 2008).The prospect underlies the Panakawa oil seep which has a surface measured flow rate of five barrels of oil per day of 35°API oil and is ideally located less than 1km from Rimbunan Hijau’s Panakawa logging and veneer plant wharf.The statement said the Panakawa-1 well was targeting the lower cretaceous toro formation sandstone and several secondary reservoirs.Proposed total depth of the well is 2,323m in basement.The company expects the well to require approximately 30 days drilling.NGE is the sole owner of PPL 276.The company said apart from PPL 276, NGE also has five other onshore petroleum prospecting licences (PPLs) covering more than 52,000sqkm (including PPL 276).These PPLs contain an excellent exploration inventory of 59 prospects and leads, which include six drillable prospects.Ten top leads are currently being evaluated for upgrading to drillable prospect status.The oil-and-gas-focused explorer raised US$18.5 million (K49 million) early this year by a placement of 112,121,210 shares at US$0.165 per share to sophisticated or professional investors, it said.The fundraising was managed by Bell Potter Securities Ltd and was strongly supported by both institutional and sophisticated retail investors.The shares issued will rank equally with existing ordinary fully-paid shares on issue, with shareholders approving the matter at a meeting last week.NGE is partly-owned by Sir Michael Bromely, a PNG-based businessman who, at one time, ran one of the Highlands’ region’s large supermarket chains – the Bromley and Manton.
Petromin, Mitsui in joint project
PETROMIN PNG Holdings Ltd signed an agreement last Friday in Port Moresby with Mitsui & Co Ltd, Japan’s major trading company, to jointly undertake feasibility studies to identify and to set up new gas-resource based businesses.In a joint statement, Petromin managing director and chief executive Joshua Kalinoe and Shintaro Ambe, managing officer of Mitsui’s infrastructure projects business unit that their companies want to see downstream businesses established to create long-term job opportunities for Papua New Guineans.
LNG cargoes big challenge to ports
THE increasing volume of shipment destined for the liquefied natural gas project (LNG) is now causing big stress on the country’s major ports, but wharf operators are gearing up to handle it.“The impact is already here,” PNG Port Corp chairman Dr Ila Temu said during an interview at the Yacht Club last Thursday, where a shareholders’ “get to know” night was held.“Our big challenge is how prepared are we to support the economy … PNGPC is a stakeholder responsible for providing efficient port services in the country in light of commodity booms,” Temu said.“The heavy equipment and machineries destined for the LNG project have already put a massive strain on our port facilities.“Nevertheless, PNG PC has positioned itself to take up the challenge.“We are determined to handle that,” Temu told The National. PNGPC is restrategising itself to meet the demand by improving its port facilities, especially the Port Moresby and Lae ports.“Already, at least K40 million has been approved for two hub ports of Lae and Port Moresby to boost capabilities to handle the growing volume of cargoes being unloaded at the two wharves,” Temu said.“The volumes of containers with heavy machineries coming into Lae and Port Moresby ports were really huge and are putting stress on our facilities … but we are determined to face the challenge.“We already have scanning machines in place and Lae port is under expansion also,” Temu said.PNGPC is the former PNG Harbours Board which was privatised to operate as the government’s unit for port operations.
Petromin inks deal on LNG devt tech
PETROMIN PNG Holdings Ltd entered into a co-operative development agreement (CDA) yesterday with two international partners.This agreement is to investigate the prospects of introducing liquefied natural gas (LNG) floating production storage and offloading (FPSO) technology to PNG.The partners are DSME E&R (ENR), a subsidiary of Daewoo Shipbuilding and Marine Engineering (DSME) of South Korea, and Höegh LNG of Norway (HLNG).Both companies have worked on the shipping and processing components of the LNG FPSO technology respectively, and the technology is ready for immediate implementation.In a joint statement, Petromin managing director Joshua Kalinoe, DSME E&R chief executive officer Jin Seok Kim, and Höegh LNG board director Andrew Jamieson, said the CDA provided for a tripartite partnership among the companies to carry out a joint study to determine the technical and economic viability of developing the gas reserves of Papua New Guinea using LNG FPSO technology.“We have agreed to work together by entering into a co-operative development agreement signed today, to introduce the technology to Papua New Guinea.”
Petromin for offshore gas processing plant
By BOSORINA ROBBY
PETROMIN PNG Holdings Ltd yesterday presented to its major stakeholders the concept of having an offshore processing plant designed to greatly reduce the time and money spent on onshore pipeline laying and other concerns.Managing director Joshua Kalinoe said the liquefied natural gas (LNG) floating production storage and offloading (FPSO) exercise would be the fastest means of commercialising the gas resources in PNG, especially for gas fields within the ocean’s proximity, with long-distance pipeline options to the onshore processing facilities.He said from the co-operative development agreement signed by Petromin and its international partners DSME South Korea and Hoegh LNG Norway on Tuesday, economic and technical feasibility studies would continue to provide a competitive option to gas owners in the Gulf of Papua, including the ELK/Antelope LNG project.Kalinoe said this would provide an alternative to gas owners and operators in the country to save time and money by having an offshore processing facility nearby, rather than through hundreds of kilometers of pipelines.The LNG FPSO technology will feature an offshore facility vessel that will be built by DSME, and will be able to store, process and prepare gas for export.The processing facility is projected to be capable of producing up to three million tonnes of LNG annually.Kalinoe said if everything went according to plan, the final investment decision should be made by Dec 31 to allow for the construction of the vessel to begin by next February and first cargo anticipated for late 2014.He said the technology also had the advantage of early monetisation of gas reserves when compared to conventional onshore LNG facilities and the training of many Papua New Guineans.He said the partnership with DMSE and Hoegh LNG would allow Petromin to fulfil its mandate as the national oil, gas and minerals company to join and deliver the first LNG FPSO facility in PNG.
PETROMIN PNG Holdings Ltd yesterday presented to its major stakeholders the concept of having an offshore processing plant designed to greatly reduce the time and money spent on onshore pipeline laying and other concerns.Managing director Joshua Kalinoe said the liquefied natural gas (LNG) floating production storage and offloading (FPSO) exercise would be the fastest means of commercialising the gas resources in PNG, especially for gas fields within the ocean’s proximity, with long-distance pipeline options to the onshore processing facilities.He said from the co-operative development agreement signed by Petromin and its international partners DSME South Korea and Hoegh LNG Norway on Tuesday, economic and technical feasibility studies would continue to provide a competitive option to gas owners in the Gulf of Papua, including the ELK/Antelope LNG project.Kalinoe said this would provide an alternative to gas owners and operators in the country to save time and money by having an offshore processing facility nearby, rather than through hundreds of kilometers of pipelines.The LNG FPSO technology will feature an offshore facility vessel that will be built by DSME, and will be able to store, process and prepare gas for export.The processing facility is projected to be capable of producing up to three million tonnes of LNG annually.Kalinoe said if everything went according to plan, the final investment decision should be made by Dec 31 to allow for the construction of the vessel to begin by next February and first cargo anticipated for late 2014.He said the technology also had the advantage of early monetisation of gas reserves when compared to conventional onshore LNG facilities and the training of many Papua New Guineans.He said the partnership with DMSE and Hoegh LNG would allow Petromin to fulfil its mandate as the national oil, gas and minerals company to join and deliver the first LNG FPSO facility in PNG.
Construction at gas project in full swing: Esso H’lands
By PATRICK TALU
THE multi-billion liquefied natural gas (LNG) project moved into full execution phase last March and is currently at the earliest stages of the four-year construction period.The environmental and social verification and monitoring systems and reporting protocols are also at an early stage of implementation.According to an executive summary statement from Esso Highlands Ltd managing director Peter Graham yesterday, much of the project activity would occur under six engineering, procurement and construction (EPC) contracts being executed by some of the industry’s leading contractors.Graham said to date only one of the EPC contractors for the Komo airfield had commenced field construction activity, while the other EPC contractors remain in the execution planning phase.Additional to the EPC contracts, construction contracts were awarded last year for a programme of infrastructure upgrades in advance of the main construction activities in the Gulf and Southern Highlands provinces.Graham said the upstream infrastructure element of this programme incorporates civil works in the areas of Hides and Kutubu, upgrade and construction of new roads and bridges, construction of training facilities and camp construction, extension and refurbishment.Another contract covers early works at the LNG plant site and nearby area.Contracting is in advanced stages for two newly-built drilling rigs to drill and complete the project wells.Graham stressed that the recruitment and development of qualified Papua New Guinean citizens is a key component of the “project’s national content plan (NCP)”.“The strategy is to maximise the number of local employment opportunities, to in-crease the ratio of national employees over the life span of the project and to train them in the technical and professional skills necessary for working on existing, and future, projects and operations.”
THE multi-billion liquefied natural gas (LNG) project moved into full execution phase last March and is currently at the earliest stages of the four-year construction period.The environmental and social verification and monitoring systems and reporting protocols are also at an early stage of implementation.According to an executive summary statement from Esso Highlands Ltd managing director Peter Graham yesterday, much of the project activity would occur under six engineering, procurement and construction (EPC) contracts being executed by some of the industry’s leading contractors.Graham said to date only one of the EPC contractors for the Komo airfield had commenced field construction activity, while the other EPC contractors remain in the execution planning phase.Additional to the EPC contracts, construction contracts were awarded last year for a programme of infrastructure upgrades in advance of the main construction activities in the Gulf and Southern Highlands provinces.Graham said the upstream infrastructure element of this programme incorporates civil works in the areas of Hides and Kutubu, upgrade and construction of new roads and bridges, construction of training facilities and camp construction, extension and refurbishment.Another contract covers early works at the LNG plant site and nearby area.Contracting is in advanced stages for two newly-built drilling rigs to drill and complete the project wells.Graham stressed that the recruitment and development of qualified Papua New Guinean citizens is a key component of the “project’s national content plan (NCP)”.“The strategy is to maximise the number of local employment opportunities, to in-crease the ratio of national employees over the life span of the project and to train them in the technical and professional skills necessary for working on existing, and future, projects and operations.”
Sunday, June 13, 2010
Popoitai: Liquidity from gas project a problem
By SHEILA LASIBORI
THE PNG liquefied natural gas (LNG) project will continue to inject liquidity into the banking system over the construction phase.And the presence of increased liquidity is a major concern for the Bank of PNG (BPNG) that must act to diffuse it, according to Deputy BPNG Governor Benny Popoitai.BPNG uses the treasury bills (TB) to reduce or remove liquidity in the banking system.Popoitai said a wealth fund was appropriate to assist in keeping the liquidity level within the banking system at a lower rate.“Our current liquidity situation to date is that we have gone well over K700 billion in liquid assets in the banking system.“Our exchange settlement accounts has also gone over K500 million.“The basic indicator of the liquidity situation of the banks is that when the exchange settlement accounts of the banks with Central Bank increases, it indicates that they increased with liquidity.“That is a situation that we have to give a serious thought in dealing with the liquidity level,” Popoitai said yesterday in Port Moresby during the international and domestic stakeholders’ workshop on the possibility of setting up a wealth fund.“Much of that liquidity is injected from the construction of the LNG project as well as drawdown of the trust accounts from the BPNG,” he added.
THE PNG liquefied natural gas (LNG) project will continue to inject liquidity into the banking system over the construction phase.And the presence of increased liquidity is a major concern for the Bank of PNG (BPNG) that must act to diffuse it, according to Deputy BPNG Governor Benny Popoitai.BPNG uses the treasury bills (TB) to reduce or remove liquidity in the banking system.Popoitai said a wealth fund was appropriate to assist in keeping the liquidity level within the banking system at a lower rate.“Our current liquidity situation to date is that we have gone well over K700 billion in liquid assets in the banking system.“Our exchange settlement accounts has also gone over K500 million.“The basic indicator of the liquidity situation of the banks is that when the exchange settlement accounts of the banks with Central Bank increases, it indicates that they increased with liquidity.“That is a situation that we have to give a serious thought in dealing with the liquidity level,” Popoitai said yesterday in Port Moresby during the international and domestic stakeholders’ workshop on the possibility of setting up a wealth fund.“Much of that liquidity is injected from the construction of the LNG project as well as drawdown of the trust accounts from the BPNG,” he added.
OTML, Frontier ink deal on exploration project
OK Tedi Mining Ltd (OTML) has signed a deal putting up exploration farm under a joint venture set up.This will be with wholly-owned subsidiaries of Frontier Resources Ltd (Frontier Resources).The first joint venture (JV) relates to two exploration licences (ELs) for Bulago (EL 1595) and Leonard Schultz (EL 1597)) held by Frontier Gold PNG Ltd (Frontier Gold).The second JV relates to Likuruanga in West New Britain (EL 1351) and two EL Application (ELA) areas (Central New Britain (ELA 1593) and East New Britain (ELA 1592).Each of these tenements is held by Frontier Copper PNG Ltd (Frontier Copper).In a statement on its website, OTML said it was committed to exploration expenditure of US$2.5 million (K7 million) and an additional US$1 million (K3mil) share placement in Frontier Resources.
Investors should buy now, says BSP
BANK South Pacific (BSP) Capital Ltd is recommending that current investors and aspiring ones buy shares now to be able to enjoy a high return in the next two years.This is because during this period, the returns on shares will be up by 51.3% at an estimated selling price of K0.96 per share.The current share price is K0.66.BSP Capital analysts, in releasing the forecasts yesterday, said the number one return would be on Port Moresby Stock Exchange (POMSoX) listed companies.The key points behind the “strong buy” recommendation are: A total dividend of K4 was declared where K2.20 is payable in July this year and a further K1.80 at a later date.“We expected the dividend payout ratio to increase by 50%,” BSP Capital said.The two-year good return on share forecast will be realised because of a successful debt and equity investment in BSP by the International Finance Corp (IFC), which is expected to provide new capital to expand the local book. Another reason was that an anti-fraud technology was introduced to stamp out misrepresentation and deception.BSP said an internal unit was transforming its old systems, processes and procedures to align with “world best practice” and that the electronic banking facilities would continue to expand this year.“There will be 280 installed automatic teller machines (ATM) and the general packet radio service (GPRS) electronic funds transfer at point of sale (eftpos) devices will grow markedly while short message service (SMS) banking will further its growth,” the bank said.
Apec urged to push for free trade in region
ASIA-Pacific Economic Co-operation (Apec) leaders should recommit to achieving free and open trade within the Apec region.They should also agree that a free trade area of the Asia-Pacific (FTAAP) is an inspirational but achievable vehicle for free and open trade and investment within the region.These were part of the five recommendations by Apec business advisory council (Abac) for the Apec trade ministers who meet later this week.In recommitting to achieve free and open trade within region, Apec said they should take into account the fundamental changes in Apec’s economic and social structures over the last 16 years, and the fact that we are now in the era of the post-industrialised knowledge-based economy.“Abac recommends that a new vision is needed, building on the Bogor goals to reflect the changing nature of modern Asia Pacific regional supply chains and value chains,” it said.
Esso releases first quarter environmental, social report
ESSO Highlands Ltd, operator of the PNG liquefied natural gas, has released its first quarter environmental and social report.The report details actions to develop the energy project in a responsible manner while bringing economic success to PNG and providing energy to meet Asia’s growing demand, the company said in a statement.Esso Highlands is a subsidiary of ExxonMobil Corp.It said the report detailed how PNG LNG was implementing commitments made in the project’s environmental and social management plan, which is based on the most comprehensive environmental impact assessment ever undertaken in the country.The report covering January to March this year also demonstrated how the project was contributing to the economic growth of the country through development of a local workforce and suppliers.Peter Graham, managing director of Esso Highlands, said: “Completion of the financing arrangements last March moved the project into a full execution phase.“We are developing this challenging project in a manner that reflects our high standards in business and operational integrity, and importantly in safety, security, health, environmental and social management.“The benefits that flow from the project will support the PNG government’s objective to strengthen its economy and infrastructure base for the benefit of its people.“This is the first in a series of reports that details our progress in this challenging project.”The project is currently at an early stage of a four-year construction period, with activities under way in design, pre-mobilisation and early site works.
New joint venture eyes LNG projects
THE Massco PNG Ltd (Masco) and CoDa PNG Ltd and Associates (CoDA) have formed a joint venture company to engage in structural and engineering designs, eyeing massive projects to roll out from the on-going liquefied natural gas (LNG) development in the country.Massco and CoDA , a South Korean-owned entity, signed the partnership agreement yesterday, in which Masco will have 51% interest while CoDa, 49%The deal was signed by Massco executive chairman Jerome Kairi and CoDA chief executive Joshua Chi, witnessed by managing director Caleb Insun Kim and representatives from both parties.Hailing the signing, Kairi said: “It is a milestone achievement for a landowner company from Gobe petroleum development licence (PDL) 4 in Southern Highlands to join hands with a reputable company from sophisticated country like south Korea.”“It signifies great improvement from the way we have come so far in reaching this agreement.“Now, we want to tell Esso Higlands Ltd that we have the necessary equipment, financial capacity and technical expertise that are readily available to take up bigger task at the top level.“It’s now up to EHL to give us the scope of work for the contracts for EPC as we have met all the requirements,” Kairi said.He said the concept met the national content plan that stipulates landowner companies to participate in the LNG project.When asked what areas the joint venture company was targeting at, he said the new company was targeting projects at EPC2, EPC3, EPC5 A and EC2.Kim said the agreement was a “marriage between CoDA and Massco” and had assured they would live through both in bad and good times”.“We must work together, having in mind that in the future the JV company can be a major project developer like EHL if we work with passion and the philosophy to move forward.”The partnership is backed by LABA Holdings from portion 152, Gobe Field Engineering, the umbrella company for Gobe PDL 4, and Kikori Oil Investment Ltd.Each company owns 10% equity.
Kaukau ‘woes’ traced
By SENIORL ANZU
THE loss of value in marketable sweet potato or kaukau happens at all points of the supply chain from farms in the Highlands to markets in Lae and Port Moresby, according to a survey by NARI and the Fresh Produce Development Agency (FPDA).A stakeholder workshop on “Towards better kaukau supply chain in PNG”, which started at NARI headquarters in Lae on Wednesday was told that such losses happen due to poor handling during transport.Survey participant, Ronald Pam from FPDA, told stakeholders that some of the obvious damage was skinning, broken root and rotten tubers.“Lots of damage occurs at loading and unloading … major impacts lead to lots of broken root.“This results in lots of rotten tubers that can not be sold (soft rot) at the markets,” Pam said.He said such damage reduce the value of kaukau when they appear at the market place.The survey identified that causes include rough handling, different packaging methods, and transportation-related problems derived from handling and high humidity.Pam said damage starts on-farm from rough handling and this snowballed further down the chain.He said the number of broken roots increased through transportation – due to loading and unloading.Professor Barbara Chambers of the University of Canberra, who facilitated the two day workshop, said the event was to sensitise discussions on the supply chain of kaukau, with reference to value adding and post-harvest of kaukau.The workshop discussed how producers could take advantage of recent researches on kaukau disease control and post-harvest handling.
THE loss of value in marketable sweet potato or kaukau happens at all points of the supply chain from farms in the Highlands to markets in Lae and Port Moresby, according to a survey by NARI and the Fresh Produce Development Agency (FPDA).A stakeholder workshop on “Towards better kaukau supply chain in PNG”, which started at NARI headquarters in Lae on Wednesday was told that such losses happen due to poor handling during transport.Survey participant, Ronald Pam from FPDA, told stakeholders that some of the obvious damage was skinning, broken root and rotten tubers.“Lots of damage occurs at loading and unloading … major impacts lead to lots of broken root.“This results in lots of rotten tubers that can not be sold (soft rot) at the markets,” Pam said.He said such damage reduce the value of kaukau when they appear at the market place.The survey identified that causes include rough handling, different packaging methods, and transportation-related problems derived from handling and high humidity.Pam said damage starts on-farm from rough handling and this snowballed further down the chain.He said the number of broken roots increased through transportation – due to loading and unloading.Professor Barbara Chambers of the University of Canberra, who facilitated the two day workshop, said the event was to sensitise discussions on the supply chain of kaukau, with reference to value adding and post-harvest of kaukau.The workshop discussed how producers could take advantage of recent researches on kaukau disease control and post-harvest handling.
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