President Of Serbia Arriving In Armenia

PRESIDENT OF SERBIA ARRIVING IN ARMENIA

armradio.am
28.07.2009 12:09

The President of the Republic of Serbia, Boris Tadic is arriving
in Armenia today on the invitation of the President of Armenia,
Serzh Sargsyan.

The welcome ceremony will be followed by the face-to-face meeting
of the Presidents of Armenia and Serbia Serzh Sargsyan and Boris
Tadic. Later the delegations of the two countries will hold extended
consultations. The leaders of Armenia and Serbia will make a statement
for press.

Armenian President Serzh Sargsyan will give an official dinner in
honor of his Serbian counterpart.

Within the framework of the two-day official visit Boris Tadic will
meet Armenian Prime Minister Tigran Sargsyan and the Catholicos of
All Armenians, His Holiness Garegin II.

The President of Serbia will visit the Memorial to the Armenian
Genocide victims and the Armenian Genocide Museum-Institute and will
plant a tree in the Memory Alley.

The Serbian President will pay homage and lay flowers at the memorial
to Yugoslavian pilots killed in a crash when delivering humanitarian
assistance to Armenia.

Boris Tadic will be accompanied by the Serbian Minister of Foreign
Affairs, the Minister of Trade and Service, who are expected to meet
their Armenian counterparts.

Armenian Ameriabank’s Assets 86.2bln AMD On July 1, 2009

ARMENIAN AMERIABANK’S ASSETS 86.2BLN AMD ON JULY 1, 2009

ARKA
July 22, 2009

YEREVAN, July 22. /ARKA/. As of July 1, 2009, Ameriabank’s assets
totaled 86.2bln AMD – an increase of 175.8% as compared with the
beginning of the year, Tigran Jrbashyan, Director of the Development
Department, told reporters.

"The bank retains high growth rates and, according to the latest data,
is the most rapidly developing bank in the South Caucasus. By July 1,
2009, Ameriabank’s assets had totaled 86.2bln AMD, which allows us
to estimate the growth at 175.8% as compared with the beginning of
the year. The assets have increased more than 2.8 times as compared
with the second quarter last year," Jrbashyan said.

According to him, the bank’s liabilities showed a considerable increase
in the 2nd quarter as well – 2.28 times as compared with the first
quarter, with an annual increase of 2.9 times. Jrbashyan said that
the bank’s liabilities reached 65.4bln AMD in the 2nd quarter.

He reported that the bank recorded the third largest profit in the
Armenian banking system (554.9mln AMD). The bank’s profit showed a
5.4-fold increase as compared with last year.

"The growing confidence in the bank has caused changes in the deposit
structure. Specifically, in the first quarter fixed deposits totaled
20.7bln AMD, call deposits 32.6bln AMD. In the second quarter this
scheme was considerably changed, whi ch enabled us to speak of rather
serious financial resources available," Jrbashyan said.

He reported that in the 2nd quarter fixed deposits totaled 32.2bln AMD,
and call deposits 27.6bln AMD. As a result, the bank’s liabilities
to clients totaled 60.4bln AMD. Jrbashyan pointed out a considerable
increase in the amount of deposits of legal entities – up to 25.9bln
AMD.

"We are actively working with Rosgosstrakh in insuring individual
deposits. As a result, the amount of deposits increased by 37% in
the 2nd quarter, and 3.3 times since the beginning of the year –
up to 6.3bln AMD," Jrbashyan said.

He also reported that the bank has the fifth largest assets in the
Armenian banking system (7.53%), the first largest authorized capital
and the fourth largest total capital. At the end of the first quarter,
the bank had the seventh largest liabilities. At the end of the 2nd
quarter it had the fifth largest liabilities.

The Ameriabank CJSC (former Armimpexeconombank, renamed last May)
was founded in July 1992 using the facilities of the Armenian branch
of the USSR Vnesheconombank. On September 8, 1992, the Central Bank of
Armenia (CBA) issued a banking license to Ameriabank. In August 2007,
TDA Holdings Limited, affiliate of the Troika Dialog investment and
banking group (Russia), purchased the bank’s shares.

As of June 30, 2009, Ameriabank’s assets reached 86.2bln AMD,
liabilities 65.4bln AMD, total capital 20.7bln AMD, authorized capital
18.2bln AMD (first largest authorized capital in the Armenian banking
system), credit investments totaled 31.6.2bln AMD, liabilities to
clients 60.4bln AMD and net profit (January-June 2009) 554.9mln AMD.

BAKU: Two Co-Chairmen Of OSCE MG To Be Replaced In 2009: Russian Co-

TWO CO-CHAIRMEN OF OSCE MG TO BE REPLACED IN 2009: RUSSIAN CO-CHAIR

Today.Az
cs/54041.html
July 22 2009
Azerbaijan

Russian and U.S Co-Chairmen of OSCE Minsk Group will be replaced in
2009, Russian Co-Chairman Yuri Merzlyakov said.

"U.S Co-Chairman of OSCE Minsk Group Matthew Bryza will pay a last
visit to the region as Co-Chairman of OSCE Minsk Group," Merzlyakov
said over the phone from Moscow.

He said that he will also leave the position of Co-Chairman in 2009.

"I intend and hope that I will be allowed to leave this post on the
seventh year of service as Russian Co-Chairman of OSCE Minsk Group. I
think it will happen in 2009, Merzlyakov said.

U.S Deputy Assistant Secretary of State for European and Eurasian
Affairs Bryza was appointed Co-Chairman of OSCE Minsk Group to solve
the Nagorno-Karabakh conflict from the U.S side in June 2006 and
replaced Steven Mann.

Magazine Foreign Policy reported in early June that U.S Congress had
unofficial consultations on the possible appointment of Matthew Bryza
as Ambassador to Azerbaijan.

"There is no information about my appointment as Ambassador," Bryza
told media in Moscow before Aliyev and Serzh Sargsyan’s meeting
in July.

Bryza said that if there was to be such an appointment, he would be
pleased to work in any South Caucasus country.

Merzlyakov became Russian Co-Chairman of OSCE Minsk Group in solving
the Nagorno-Karabakh conflict in September 2003, replacing Ambassador
Nikolai Gribkov.

http://www.today.az/news/politi

Kansas Adjutant General Traveling To Armenia To Review Partnership

KANSAS ADJUTANT GENERAL TRAVELING TO ARMENIA TO REVIEW PARTNERSHIP

AZG DAILY
21-07-2009

The head of the Kansas National Guard will be traveling in Armenia
this week to review the Guard’s partnership with the eastern European
nation.

Maj. Gen. Tod Bunting, who leads the Guard in his role as Kansas
adjutant general, will meet with U.S. Embassy staff as well as Armenian
government officials.

Kansas has been linked with Armenia since 2003 under the National
Guard Bureau’s State Partnership Program. The Kansas Guard works
closely with the Armenian ministry of defense, ministry of health,
rescue service and other governmental offices and agencies.

Bunting’s visit will focus on biosecurity, agriculture development,
education and law enforcement. Several Kansas officials from
those fields are also making the trip to meet with their Armenian
counterparts, AP reports.

BAKU: OSCE Secretary General Urges Azerbaijan, Armenia To Reach Comp

OSCE SECRETARY GENERAL URGES AZERBAIJAN, ARMENIA TO REACH COMPROMISE ON KARABAKH CONFLICT RESOLUTION

Today.Az
tics/53901.html
July 17 2009
Azerbaijan

OSCE Secretary General Marc Perrin de Brishambaut says it is important
for Azerbaijan and Armenia to find compromise to resolve the Karabakh
conflict as soon as possible.

"There is intensification in peace process," Brishambaut said at a
news conference in Baku.

He said he witnessed Azerbaijani president’s interest in continuing
talks at a meeting with him.

"The statements made by Minsk Group co-chairs in L’Acquila should be
ways for both sides and they must step towards rapproachement based
on these principles. The principles can not fully suit the sides, but
they should make all efforts to achieve peace," he said and stressed
importance of compromise by both sides.

http://www.today.az/news/poli

Sargsyan Received The Director General Of The OPEC International Dev

SARGSYAN RECEIVED THE DIRECTOR GENERAL OF THE OPEC INTERNATIONAL DEVELOPMENT FUND, SULEIMAN JAZIR AL-HERBISH

president.am
July 15 2009
Armenia

Today, President Serzh Sargsyan received the Director General of the
OPEC International Development Fund, Suleiman Jazir Al-Herbish and his
delegation. Present at the meeting was also Henning Pedersen, Armenia
country program Manager of the International Fund for Agricultural
Development (IFAD).

The International Fund for Development has been assisting Armenia since
2004. Until now, it has implemented two 15 million USD worth loan
programs directed mainly at the restoration of Armenia’s industrial
infrastructure. Another agreement for 14 million USD was signed last
December and is aimed at fostering Armenia’s rural development through
loans and investment.

Taking into consideration significant input of the OPEC International
Development Fund’s and its Director General’s personal contribution to
the strengthening of economic cooperation with Armenia, particularly
for the development of rural areas, on July 13 President Serzh Sargsyan
signed a decree to award Suleiman Jazir Al-Herbish with the Anania
Shirakatsi medal.

Presenting the award, the President of Armenia expressed satisfaction
with the programs implemented by the Fund in Armenia and noted that
serious work has been done for the rural development and reduction
of poverty. President Sargsyan highly praised the Fund’s five-
and IFAD’s ten- year activities in our country, which contributed
significantly to the development of Armenia’s rural areas and
infrastructure development. The President said that along with the
financial resources provided by the Fund, Armenia also benefited from
its expertise and business culture which is obtained through joint
work. He also expressed hope that despite the difficulties caused by
the ongoing global financial crisis, the cooperation would go on.

Suleiman Jazir Al-Herbish expressed gratitude for the award, assessing
it as a result and evaluation as well as the symbol of the Fund’s
and its strategic partner IFAD’s cooperation with Armenia.

Pan-Armenian Conference Adopts Resolution Following Discussions On K

PAN-ARMENIAN CONFERENCE ADOPTS RESOLUTION FOLLOWING DISCUSSIONS ON KARABAKH, ARMENIAN-TURKISH ISSUES

Yerkir
13.07.2009 12:55

The pan-Armenian Conference, held in Stepanakert, on July 10-11 and
organized by the ARF Hay Dat Central Council, has passed a resolution
on the Artaskh issue and the Armenian-Turkish relations. Below is
the text of the resolution.

We, the representatives of Armenian communities in 25 countries of
the world, having discussed, at a conference organized under the
high patronage of the President of NKR, the current issues of utmost
importance for the nation and the state, namely the issues of Artsakh
and the Armenia-Turkish relations, herewith determine:

1. Armenia and the Armenians are at an important and decisive
stage. The preservation of our identity, the future of the two
Armenian states and of our nation depends on the further course and
the resolution of the two issues on our agenda.

2. We are determined to protect the interests and the rights of the
nation and the state and to secure our independent and dignified
place in the family of civilized nations, using all possible and
impossible means.

3. We demand confidence, realism and political will from the incumbent
and future authorities of the Republic of Armenia and the Republic of
Nagorno Karabakh; in these two critical issues, they should be guided
solely and exclusively by the interests of the Armenian nation and
the =0 Asense of responsibility before generations to come.

4. We realize that all issues related to the foundations of the
state and domestic and foreign policy are inter-related and insist
on comprehensive and balanced position [on these issues].

5. The Republic of Armenia, Artsakh and the Diaspora can become an
organized power only if we act as parts of the whole, establish a
format for exercising our joint will, employ our capacities and prove
to our neighbors and centers of power of the world that the Armenian
nation shall not tolerate infringement of our legitimate rights.

In view of the above, the conference herewith states in relation to
Armenia-Turkey relations:

Armenia and Turkey, as neighbor states, will eventually have to
establish normal relations. Armenia’s initiative to start diplomatic
relations and open the borders without any preconditions has already
been a concession and a demonstration of good will towards Turkey. In
more than a year Turkey, however, has not responded commensurately to
Armenia’s such unilateral readiness. None of Turkey’s leaders made
any public statement on their wish to normalize relations without
any preconditions. Turkey continues to establish preconditions,
consistently increases her biased role in the Artsakh issue and,
in reality, instead of heading for the normalization of relations,
successfully misguides the international community by thus removing
the Armenian issue from the agenda.

A In this context, signing the joint statement of April 22, 2009
was a wrong and a short-sighted move. Present trends are equally and
even more dangerous, as the power centers of the world are trying to
impose some accelerated solutions of the Artsakh issue and by doing
so steer the course of Armenia-Turkey relations in the direction
which is beneficial for Turkey [alone]. It is already obvious that
Armenia and the Armenians have to deal with a concerted policy of
Turkey-Azerbaijan tandem.

In these circumstances, we are confident about the relevance of
the below considerations and the importance of pursuing them at a
state level.

a) Lifting the blockade and establishing diplomatic relations based on
general provisions of international law and without any preconditions
should be viewed as a natural entry point for the dialogue between
the two states.

True friendly relations with Turkey may be established upon the
recognition of the Armenian Genocide and the restoration of the rights
of the Armenian people.

b) Universal recognition and condemnation of the Genocide and,
specifically, recognition and condemnation by Turkey is of fundamental
significance both in terms of restoring historical justice and in the
context of establishing an atmosphere of mutual confidence in the
region and prevention of such crimes in the future. This provision
of Armenia’s national security concept has de facto ceased to be a
guiding principl e of Armenia’s foreign policy. Any attempt to turn
the fact of the Genocide into a matter of a historical debate is
equally inadmissible.

c) Normalizing Armenia-Turkey relations at the expense of Armenia’s
sovereignty and viability and the rights of future generations is
absolutely inadmissible. The authorities of the Republic of Armenia
should not allow Turkey to use the imitation of negotiations for
scoring additional political and advocacy points in the international
arena.

d) Armenia’s authorities have a duty to revisit and reconsider the
course of public interaction initiated one year ago and its negative
outcomes, and should reveal to the international community Turkey’s
true intentions and discontinue the negotiations.

In relation to the current stage of the Artsakh issue, the conference
herewith states that:

The regional status quo is the result of Azerbaijan’s policy aimed
at shattering the right of free self-determination of the people of
Nagorno Karabakh, unleashing a war and losing it. Not only Artsakh
managed to defend her right to life, but it created a democratic state
conforming to all international norms; this state grows and develops
normally. Today and tomorrow, the dignity, the viability and the
future of Armenia and the Armenian nation are contingent on Artsakh’s
independence and security. Certain trends in relation to providing a
hasty solution to the problem and Azerbaijan’s belligerent statements
require that we remain vigilant, keep the issue in the focus of the
national discourse and, as appropriate, prevent any possibility of
unfair resolution of the conflict.

In view of the above, the conference believes that:

a) The course of the final settlement of the Artsakh issue is that
of peaceful negotiations; the distorted format of these negotiations
should however change so that the NKR becomes a full-fledged party
in the negotiations.

b) The negotiations process should be based on the accomplished
fact of the independence of the people of Artsakh and the results
of the 1991 independence and the 2006 Constitution referenda. The
negotiations should have, as an objective, an immediate recognition of
NKR independence and ensuring her security, and should not circumvent
the issue of occupied areas of Getashen, Mardakert and Martuni and the
rights of hundreds of thousands of Armenians displaced from Azerbaijan.

c) Nagorno Karabagh has never been a part of the independent
Azerbaijan; she declared independence in 1991 in the territory which
did not belong to Azerbaijan. The demise of the Soviet Union put an end
to the Soviet Azerbaijan’s jurisdiction over Artsakh. The commencement
of the Artsakh war and its consequences are the responsibility of
Azerbaijan alone.

d) While we realize that negotiations imply mutual concessions,
we at the same time maintain that mutual concessions, in view of all
components of the settlement of the conflict, may only be commensurate,
equal, concurrent and within the package solution framework. Otherwise,
any weakening of the security belt around the NKR, without restoring
its territorial integrity, will increase the likelihood of war and
thus threaten the safety of Artsakh’s population.

e) Within this context, the call of the co-chairs for the expedited
settlement of the conflict based on the so called Madrid Principles is
not in line with the nature of the conflict and its history. Moreover,
it completely ignores the will of the NKR people that they have already
so legitimately expressed. The conference believes that adopting any
international document without direct participation of the key party
to the conflict, i.e. the authorities of the NKR, is condemnable,
inadmissible and devoid of any legal power. The conference affirms
that the Republic of Armenia is not in a position to replace NKR in
resolving this vital issue. The conference further demands that the
proposed document be not signed and that urgent measures be taken to
return the NKR to the negotiations table as a full-fledged party.

f) Armenia should take all measures to guarantee the security and
independence of the NKR and attain an international affirmation of
her status. Accordingly, only a document excluding any use of force
and signed between the RA, NKR and Azerbaijan under the auspices of
the international community may ensure the irreversibility of the
pea ceful negotiations process.

g) For us, Artsakh is Armenia and shall remain as such. We have already
scored a victory by mobilizing the Armenian nation in the war unleashed
by Azerbaijan, and there should be no doubt that we shall do the same
should anyone decide to use the language of warfare against our nation.

We, the participants of the two-day conference on the Artsakh
issue and Armenia-Turkey relations herewith reaffirm our unity and
determination in relation to issues of importance for the nation and
the state. The independent Republic of Armenia, the free Artsakh,
the organized Diaspora and inalienable rights of our nation continue
to remain our ultimate values.

Armenia – President Serzh Sargsyan Received The President Of The Uni

ARMENIA – PRESIDENT SERZH SARGSYAN RECEIVED THE PRESIDENT OF THE UNION OF FRENCH PRODUCERS, ALAIN TERZIAN

President.am
July 14 2009
Armenia

Today, President Serzh Sargsyan received the President of the Union
of French producers, President of French Academy of motion pictures,
President of Cesar Academy and Administrator of Cannes Film Festival,
Alain Terzian and his spouse.

By the July 13 decree of the President of Armenia, Alain Terzian was
awarded the Order of Honor for his significant contribution to the
development of cinematography as well as close cultural cooperation
with Armenia and his activities directed at further deepening of the
Armenian-French relations.

Handing over the high state award, the President of Armenia welcomed
the first visit of the world-famous director to Armenia and said,
"Destiny has scattered a considerable part of our people all over
the world. But in a way, it is also to our advantage, and I say often
enough that Armenia is one country with the Diaspora and quite another
without it."

Noting, that the Armenians are proud that Alain Terzian is our
compatriot, Serzh Sargsyan underlined, "Individuals such as yourself,
make Armenia more recognizable in the world. We want our compatriots
living abroad along with being good citizens of the given country,
consider Armenia their historical motherland."

The President of Armenia welcomed the participation of the
world-renowned director in the Golden Apricot film festival.

"I am enormously happy, proud and touched to be in Armenia – my
historical motherland. The moment I set my foot on the Armenian soil,
I was overwhelmed with a strange feeling. This is something that can
be comprehended only by the Armenian who has been dreaming all his
life to be in Armenia and finally realizes that the dream has come
true," Alain Terzian said. The Armenian-French artist noted that he
was impressed with the Golden Apricot film festival, which is becoming
more and more celebrated each year.

ArmRosGazrpom Received The First Tranche From KfW

ARMROSGAZRPOM RECEIVED THE FIRST TRANCHE FROM KFW

/PanARMENIAN.Net/
13.07.2009 16:06 GMT+04:00

/PanARMENIAN.Net/ ArmRosGazrpom CJSC has received the
first tranche from KfW development bank. The long-term
loan agreement with German bank was signed for a total sum
of 50 million, the company’s press service reports.

Sums allocated within agreement frameworks are intended for
funding the project aimed at the reconstruction and development
of Armenia’s gas transportation and gas distribution systems.

Who Built Raffles Hotel?

WHO BUILT RAFFLES HOTEL?
Jamie Ee Wen Wei

The Straits Times
July 12, 2009 Sunday
Singapore

Alsagoff descendant wants to set record straight on history of the
iconic hotel

Books and newspaper articles have routinely attributed the building
of the historical Raffles Hotel to the Armenian Sarkies brothers.

But now a descendent of the prominent Alsagoff family has come out
to say that the records are wrong.

Mr Syed Muhammad Ghadaffi Alsagoff, 35, wants to set the record
straight: He says it was his great- great-great grandfather Syed
Ahmed who bought Beach House at No. 1 Beach Road in 1870, before it
was converted to the Raffles Hotel. His great-great grandfather Syed
Mohamed Alsagoff then took over the estate and expanded it in 1889.

‘It is true that the Sarkies brothers managed the hotel under a lease
from Syed Mohamed Alsagoff. But the Sarkies brothers did not expand
the construction of what was originally a 10-room beach house into
one of the first modern buildings with electricity in Singapore,’
Mr Syed told The Sunday Times.

‘What is not commonly known is that its construction was undertaken
by Syed Mohamed Alsagoff.’

The bachelor, who owns a sportswear shop in Chai Chee, said he
developed an interest in the hotel’s history late last year when his
uncle showed him a will drawn by his great-great grandfather in 1902.

In the will, which Mr Syed showed to The Sunday Times, Syed Mohamed
Alsagoff said that he had been paying for the ‘additions and
improvements to the Raffles Hotel’.

He had taken over the property from his father, Syed Ahmed, a prominent
and wealthy Arab businessman who owned many properties in Singapore,
including large portions of Geylang Serai.

Syed Mohamed Alsagoff authorised the executors of his will to continue
to advance to the representatives of the Raffles Hotel the amount
needed to complete the additions after his death.

He died in 1906 at the age of 70.

With the vast documentation of the Alsagoffs’ legacy here, Mr Syed
is puzzled why some authors have mistaken the Armenian hoteliers as
the owners of the hotel.

He singled out several books – including Perth-based author Ilsa
Sharp’s 1981 There Is Only One Raffles, and the Raffles Hotel Book
Of Days published in 2001 by Raffles Hotel – which he said were
inaccurate. There have been at least 10 books written in the last
two decades on the Raffles Hotel, which opened in 1887.

In her book, Ms Sharp wrote that Raffles Hotel was ‘built not by the
British, but by Armenian brothers, entrepreneurs named Sarkies…’

She also wrote that the Sarkies ‘acquired the Raffles Girl’s Boarding
School in Singapore, which they planned to extend and convert into
a first class hotel.’

The Raffles Hotel Book Of Days said the Sarkies ‘acquire (d) an Arab
trader’s seafront property in 1987’.

Mr Syed said he has sought clarifications from the National Heritage
Board. He also met two representatives from Raffles Hotel two months
ago to show them the will.

‘We want to clear up the misunderstanding, not just for the family,
but also for history’s sake.’

He added that the family is not trying to take credit from the Sarkies
but that ‘due credit should also be given to the Alsagoffs’.

When contacted, a Raffles Hotel spokesman confirmed that the hotel’s
representatives have met Mr Syed. She said the hotel is not in the
position to defend books printed by other publishers.

The hotel had commissioned a book titled Raffles Hotel, which was
written by Mrs Gretchen Liu in 1992. It holds this book as the
authority on its history.

Mrs Liu, who was commissioned by the hotel to head its Raffles Heritage
research project from 1989 to 1992, said there is no doubt that the
Alsagoffs were the landowners and landlords of Raffles Hotel. It was
Syed Mohamed Alsagoff’s name and signature which appear on all the
hotel’s original building plans. This was mentioned in her book. She
also wrote that it was Syed Mohamed who leased Beach House to the
Sarkies.

Before coming to Singapore, the Sarkies brothers were already running
two successful hotels in Penang. They ventured to Singapore when their
landlord in Penang demanded an unreasonably large rent. The success
of Raffles Hotel has been attributed to their shrewd management of
the business.

In 1926, they secured a 70-year lease of tenure from the Alsagoffs
but this was in effect for only six years as the Sarkies brothers went
bankrupt when the Great Depression started in the early 1930s. There
are no descendents of the Sarkies here now, Mrs Liu said.

While the Sarkies did not buy the property, Mrs Liu told The Sunday
Times that she believes the Sarkies would have wanted to but could not
as Syed Ahmed had stated in his will that none of his properties could
be sold until 20 years after the death of his last surviving child.

This date did not arrive until 1961. His youngest daughter, Sherriffa
Bahia Alsagoff, died in 1941.

In 1963, the property was sold by the Alsagoffs to Malayan Banking
for $1.415 million.

Mrs Liu said the Alsagoffs definitely had a role to play in the hotel’s
history but she would describe it as a ‘passive’ one. She gave an
analogy: ‘If you started a coffee business in a building, and it
became successful, do you get the credit or the building’s developer?’

Ms Sharp, who wrote the book on Raffles Hotel in 1981, said in an
e-mail reply to The Sunday Times that she has always been aware that
the Alsagoff family were both landowners and landlords of large areas
around Beach Road, including the Raffles Hotel and its site. They
would likely have been involved in the building of the hotel but she
believes the Sarkies were equally, if not more, involved. Ms Sharp
is currently working on another book project in Singapore.

As for the discrepancies that Mr Syed raised, both Ms Sharp and Mrs
Liu felt it boiled down to a debate of semantics and opinion.

Ms Sharp said: ‘It all depends on how you define the word ‘build’
as in ‘built the Raffles’ – do we mean conceived, designed, financed,
constructed, developed, managed, operated or what? Through all these
different aspects of the process, the Alsagoffs and the Sarkies would
each have made different contributions at different times.’

Mrs Liu agreed: ‘I definitely think the Alsagoffs should be
acknowledged but this is a fine point and whether someone deserves
recognition is a matter of opinion.’

Mr Syed said he is not expecting a correction for the books that
have been published but hopes that future writings on the hotel will
be accurate.

‘You can’t take all the current books off the shelf but at least from
now on, people will get it right.’

[email protected]

WHERE S’PORE SLING WAS BORN

1887: The hotel was opened on Dec 1 and called Raffles Hotel. It was
then a 10-room colonial building at the junction of Beach Road and
Bras Basah Road. The property was owned by Syed Mohamed Alsagoff but
the hotel was run by the Sarkies brothers.

1890: A pair of two-storey wings were added.

1894: The Palm Court wing was opened.

1899: The three-storey Main Building was opened. It became one of
the first buildings in Singapore to be fitted with electricity.

1904: The Bras Basah wing, with 112 suites and a row of shops on the
ground floor, was opened. Its completion helped Raffles to secure
its status as the largest hotel in the Straits Settlements.

1915: The iconic drink, the Singapore Sling, was invented at the
historic Long Bar.

1931: The Sarkies brothers went bankrupt.

1933: The hotel was spared financial troubles and was incorporated
as Raffles Hotel Limited.

1961: The Alsagoff property was put up for auction.

1963: Malayan Banking bought the property for $1.415
million. Oversea-Chinese Banking Corporation (OCBC) ran the hotel’s
business.

1972: The property was sold to the Development Bank of Singapore (DBS).

1980: A restoration plan supported by DBS and OCBC was shelved.

1987: The Government declared the hotel a national monument.

1988: The two banks forged a new partnership under the corporation
of Raffles Hotel (1886) Pte Ltd to undertake the redevelopment of
the hotel.

1989: The hotel went through a $160 million facelift to restore it
to its colonial splendour. It reopened in 1991.

1995: Raffles Holdings (1995) Pte Ltd (RH95) was formed in August as
the vehicle for the proposed listing of DBS Land’s hotel and resort
business.

2005: The hotel, together with the rest of Raffles Holdings’ chain of
hotels, was sold to US-based investment fund Colony Capital for $1.72
billion. Colony later merged that portfolio with Fairmont Hotels &
Resorts’ assets to create Fairmont Raffles Hotels International (FRHI).

2008: A consortium led by former Credit Suisse banker Mark Pawle
tried to buy Raffles Hotel but the deal fell through.

2009: In April, FRHI secured approval from the Singapore authorities
to expand the hotel. When completed, it will have 78 new rooms.