7Monday, May 23 / Sunday May 29, 2011

News BUSINESS ASIA

By Alexander Evans

It’s not often that you get to meetyour heroes in the flesh, and TheAsian Awards is a rare occasion tohonour the most exceptional peo-ple from the global Asian commu-nity. “It was extraordinary andhumbling to be in the presence ofsuch legendary figures as SachinTendulkar and A RRahman, and togather over 1,200 world-classchampions, media and governmentrepresentatives to the inauguralAsian Awards,” says Caroline Jack-son Levy, MD of UBM Awards.

“MeetingMr Ratan Tata was anamazing experience,” adds PaulSagoo. “He has achieved so muchin his career and he is a true inspi-ration to me personally.”

The distinguished panel ofjudges were also inspired by thosehonoured in 2010. “I attendedthe Asian Awards lastyear and it was afantastically inspi-rational event,”said SurinderArora, CEOof AroraHold ingsand a judgeon thisyear’s panelfor BusinessLeader andEntrepreneur of the Year.

“The Asian Awards are excitingbecause they inspire future genera-tions to achieve great things,”added fellow judge Daljit Jagait,VIP Relationship Manager fromautomotive partner, Jaguar.

As excitement buildsaround who will be honoured

on 18th October 2011, judges havehinted at the quality of this year’swinners. “The short-list have allbeen exceptionally creative, innova-tive and pioneering,” said NavSidhu, founding partner of PR con-sultancy Sidhu and Simon Commu-

nications. “What really inspired mewas that these awards honour peo-ple who believe that nothing is un-achievable and don’t take no for ananswer.”

Other judges were inspired bythe idea of having so many of theworld’s greatest South East Asiansgathering together at a glittering cer-

emony at theGrosvenor House inLondon’s Park Lane.

“There aren’tenough opportunitiesto celebrate Asian tal-ent at this level in thiscountry in such amainstream way,”

said Sonny Takhar, Head of Mar-keting at SYCO Entertainment.

“Too often, Asian accoladesare seen as niche; but the AsianAwards are a bigger occasion toshowcase talent.”

This point was echoed by Sonyaward-winning DJ, broadcasterand fellow judge Nihal Athanayake.“The Asian Awards are a bridge be-tween the Asian community andthe wider community; but to be re-spected as an accolade you needoutstanding people to receive it -and the Asian Awards have donethat better than any other. Theseawards are about recognising themassive contribution made by theAsian community to this country,and the world.”

Who will you meet at thisyear’s Asian Awards? For infor-mation on how to book tickets tothe 2011 Awards, watch inter-views with the judges, and viewa list of the 2010 winners visit

www.theasianawards.com

The ultimate celebration of Asian excellence

World-renowned composer AR Rahman (left) receives his award for Out-standing Achievement in Music from Sonu Niigaam and Lord SebastianCoe; (below) Co-founders of The Asian Awards, Paul Sagoo, Founder ofconsultancy LemonGroup and Caroline Jackson Levy, MD of UBMAwards

Dubai Road and TransportAuthority plans to spend£3.3billion in four years on severalprojects and may also issuebonds to fund future ones.

Chief Executive Officerfor Strategic and CorporateGovernance Abdul MohsinIbrahimi Younes said thatthe Transport Authority ex-pects “to spend Dh20 billion(£3.3 billion) in next four tofive years on our projects.”

Younes did not rule outthe possibility of the author-ity issuing bonds in future to

finance its expansion. Theauthority has spent morethan Dh55 billion (£9.2 bil-lion) in the past five yearsand will look to create pub-lic-private partnerships.

The authority expects itsnew tram system for Dubaito be completed by 2014. TheDh3.2 billion (£536 million)is 30 percent complete. Italso expects the green line ofDubai’s Metro to be com-plete by September. The 23-kilometre line was originallyslated to open in April 2010.

Dubai plans £3bntransport projects

Daimler and Rolls-Roycehave specified to Tognum inwriting a higher takeover bidthey had discussed with theGerman engine maker.

The move comes afterspecialty engine makerTognum said the two biddershad signaled in talks theywere willing to raise their bid.A raised bid could bring atwo-month long takeovertussle closer to conclusion,although some shareholdersincluding ING and FirstEagle Investment Manage-ment may hold out for more.

Tognum had said it wastold by Daimler and itsBritish co-bidder they wouldraise their bid to 26 eurosfrom 24 euros per share if thetarget company supportedsuch an offer. Tognum hadadded it had yet to receivethe offer in writing. The

sources said that these docu-ments had now been submit-ted. Tognum and Daimlerdeclined to comment. Rolls-Royce was not immediatelyavailable for comment.

An increased bid, whichwould value Tognum at £3billion ($4.9 billion), wouldbe an about-face for Daimlerwhich has insisted there is noneed to raise its offer, whichhas been rejected by severalinstitutional and retail in-vestors in Tognum.

Dutch bank ING, whichholds a 9 percent stake inTognum, had argued inMarch that Tognum’s fairvalue including a portion ofexpected synergies from atie-up would be as much as32 euros per share. Othershareholders who rejectedthe initial offer as too low in-cluded First Eagle.

Daimler and Rollsraise Tognum bid

Bajaj Auto would launch afour-wheel commercial vehi-cle in 2012 from the ultra-low cost car platform, whichwas originally planned to rollout a car with the alliance ofRenault-Nissan.

“By the middle of nextyear, we will bring a four-wheeler from the ULC plat-form. This will be acommercial vehicle and it

will be a goods carrier,” saidBajaj Auto Chairman RahulBajaj. Bajaj said the foreignpartner will “market it as acar, but not a low-cost car,”and it will be sold at a “mu-tually agreed price.

The platform is same andit will be for four-wheelers.For them (Renault-Nissan),it is a car, while for us it is acommercial vehicle,” he said.

Bajaj Auto to launchfour-wheeler in 2012