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NEWS UPDATES Asean Affairs        22 January 2011

Taiwanese, Koreans invest in Philippines

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South Korean and Taiwanese investors this month committed more than a billion pesos in investments in two separate projects at the Clark Freeport Zone, state-run Clark Development Corp. (CDC) said. According to CDC, South Korean-led Ritzville Corp. would initially infuse $4.5 million or about P200 million to build 200 high-end condominium units in a 7.19-hectare tract of land along Malago Street.

This soon-to-rise luxury condominium complex is the second investment in the Freeport of businessman Ki Young Hong, who also owns Clark-based Lohas Hotel and New Well Being Spa.

Cho Young Ho, Ritzville president, said the development would be "one of the most exclusive addresses in Central Luzon" and "a fusion of high technology and modern art."

The groundbreaking was held this week.

Separately, CDC said it signed a lease agreement with Taiwan's Haitima Clark Corp. also this week for a manufacturing facility that would produce metal accessories, fittings, flanges, pipes and valves for export.

Haitima would pour in $25 million or about P1.1 billion during its first year of operations, promising to create 150 jobs.

The plant would be constructed in a 15,000-square meter lot along M.A. Roxas Highway.

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This year in Thailand-what next?

04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

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