Word of mouth - Update - banks need a good presence in Taiwan - Brief Article

Business Asia, June, 2002

"Taiwan is becoming increasingly important given the state of the markets elsewhere in Asia. All the banks need a good presence in Taiwan or they will be dead in the water."

Ernest Ip, partner, PricewaterhouseCoopers capital markets service group. Ip is commenting on Merrill Lynch & Co's failure to win a share in US$2 billion ($3.5 billion) worth of business in Taiwan.

"It's like a tree that has grown healthy on its own, and a parasite attaches itself and sucks energy and life out of it."

FIFA's director of marketing Patrick Magyar on non-sponsors cashing in on advertising of the soccer world cup. FIFA have threatened to sue 600 companies in 50 countries for "parasite marketing".

"The sanctity of a concluded contract and the integrity of a receipt under it must Do upheld: as is common parlance in the world of business `a deal is a deal'."

Judge Lai Kew Chai in his verdict on a case between Singapore Telecommunications and the Singapore Government over an alleged overpayment by the Government to the company in 1997. SingTel won the case, allowing them to keep the disputed S$388 million ($384 million).