SAMSUNG TO INVEST US$214 MLN IN LCD PLANT
SEOUL (ANTARA News/Asia Pulse) - Samsung Electronics Co. (KSE:05930), a South Korean electronics giant, plans to invest 214.7 billion won (US$214 million) to build a liquid crystal display (LCD) plant, the company said in a regulatory filing.
The investment is most likely to be made in its plant operated jointly with Sony Corp. (TSE:6758), located south of Seoul in Tangjeong, according to industry watchers.
The company did not give further details. Samsung and Sony set up a US$2 billion joint venture, S-LCD Corp., in South Korea in April 2005, initiating cooperative efforts in the LCD sector.
INDONESIAN PLANTATION FIRM TO STAGE IPO IN APRIL
JAKARTA (ANTARA News/Asia Pulse) - PT Gozco Plantations has said it will sell 1.5 billion shares or 30 per cent of its shares in an initial public offering (IPO) to be held next month.
The company said it hoped to secure approval from the capital market and financial agency watchdog Bapepam in the first week of next month. The company has named CLSA and Semesta Indovest as lead underwriters.
It said that 10 per cent of the funds from the share sales would be used to repay a debt owed by subsidiary PT Suryabumi and 15 per cent to increase its working capital, with the rest to finance seedling growing and cultivation.
JAPANESE FUND BUYS 5 PER CENT OF VIETNAM'S DIGINET
HANOI (ANTARA News/Asia Pulse) - The Ho Chi Minh City-based Dinh Gia Net Joint Stock Corp (DigiNet) and the Japan Vietnam Growth Fund (JVGF) signed a strategic partnership agreement on March 21.
Under the agreement, the fund will purchase a five per cent stake in DigiNet, a leading company in the business management software sector.
Speaking at the signing ceremony, the chairman of DigiNet's management board, Tran Dao Anh, said the agreement marked a new development for DigiNet. "It offers DigiNet a good opportunity to enter a new market - Japanese companies in Vietnam - and later the Japanese market," said Anh.
MIZUNO CORP TO OPEN FRANCHISE CHAIN IN SOUTH KOREA
TOKYO (ANTARA News/Asia Pulse) - Japan's Mizuno Corp. (TSE:8022) is making a full-scale entry into the South Korean market by opening a chain of franchise stores there that will exclusively offer the firm's products.
The company began opening Mizuno Shop stores last month and will have 19 in operation by the end of March.
It plans to expand the chain to 30 stores in 2008 and 160 by 2012. Development of the chain is being entrusted to a local sales agent which until now has wholesaled Mizuno products.
TOP MALAYSIAN LENDER BUYS STAKE IN VIETNAMESE BANK
HANOI (ANTARA News/Asia Pulse) - Malaysia's top lender, Malayan Banking Bhd (Maybank), said that it had signed an agreement with Vietnam's An Binh Commercial Joint Stock Bank to acquire a 15 per cent stake in the An Binh Bank for 430 million ringgit (roughly US$135.2 million) cash.
Maybank said in a recent statement that it may also take up an additional 5 per cent equity in the near future, pending approval by the Vietnamese Government.
Vietnam's current regulations allow foreign banks to own up to 15 per cent equity in a Vietnamese bank with the possibility of increasing the stake to 20 per cent - subject to approval by the government, Malaysia's The Star newspaper reported.
TOYOTA TO BUILD NEW ENGINE PLANT IN JAPAN
NAGOYA (ANTARA News/Asia Pulse) - Toyota Motor Corp. (TSE:7203) plans to open a factory in Miyagi Prefecture to begin manufacturing small-displacement engines for subcompact cars in around 2010, The Nikkei learned Friday.
The company's fifth engine plant in Japan will likely start up with an annual production capacity of roughly 200,000 units. The investment is estimated at about 20-30 billion yen (US$200.9 million-$301.4 million).
The engine factory, the leading Japanese automaker's first in the northern Japanese region of Tohoku, is expected to be built near the town of Taiwa, where Toyota Motor Tohoku Corp. makes brake parts and other car components.
MALAYSIA'S PARKSON TO BUILD SHOPPING MALL IN KUALA LUMPUR
KUALA LUMPUR (ANTARA News/Asia Pulse) - Parkson Holdings (KLSE:5657) said its wholly-owned unit Spring Active Sdn Bhd will build a shopping mall in Setapak in Kuala Lumpur at a total cost of RM214 million (US$67.2 million).
The mall, which will have three floors of retail space and minimum gross retail area of 690,000 sq ft, is due for completion in the second half of June 2009, Parkson said in a statement to Bursa Malaysia on March 21.
The mall will also have a basement floor of 328,000 sq ft made up of about 900 car parking bays, 140 motorcycle bays and 6,700 sq ft of retail shops.
KOREA'S KOOKMIN BANK TO SPIN OFF CREDIT CARD UNIT
SEOUL (ANTARA News/Asia Pulse) - South Korea's top lender, Kookmin Bank (KSE:060000), said Thursday it plans to spin off its credit card unit next year after setting up a holding company as part of its efforts to beef up its non-banking business.
Kookmin Bank plans to form the holding company, tentatively named KB Financial Holding Co., in September to spin off the credit card business within one year, the lender said in a regulatory filing.
Kookmin's board decided to apply to establish the holding company earlier in the day, and submitted a preliminary application to the financial watchdog, the Financial Services Commission.
MARUBENI UNIT TO SELL NEW U.S.-MADE BUSINESS JETS IN JAPAN
TOKYO (ANTARA News/Asia Pulse) - A wholly-owned Marubeni Corp. (TSE:8002) subsidiary will this spring begin Japanese sales of a new corporate jet developed by U.S. firm Gulfstream Aerospace Corp. The G650 can fly nonstop for 13,000km, outperforming other currently available luxury models.
From Tokyo, the executive jet can cover all of the Northern Hemisphere and reach northern sections of South America, as well as major cities in North Africa.
With a maximum cruise speed of Mach 0.9, the aircraft flies between Tokyo and New York in a little more than 13 hours. The business jet will be sold for $US58.5 million or about 5.8 billion yen, with delivery to start in 2012.
SAMSUNG ELECTRONICS TO BUILD HANDSET PLANT IN VIETNAM
SEOUL (ANTARA News/Asia Pulse) - Samsung Electronics Co. (KSE:05930) said Friday it plans to build a mobile phone plant in northern Vietnam.
The company said in a regulatory filing that it will channel 50.5 billion won (US$50.1 million) to its holding company in Singapore to establish the Vietnamese subsidiary, tentatively named Samsung Electronics Vietnam.
The plant, to be located in Bac Ninh Province, 30 kilometers northeast of Hanoi, will initially have an annual production capacity of 30 million units, which may expand up to 100 million in the future.
Source:
Business in Asia Today - Mar. 24, 2008
published by Asia Pulse
COPYRIGHT © 2008
SEOUL (ANTARA News/Asia Pulse) - Samsung Electronics Co. (KSE:05930), a South Korean electronics giant, plans to invest 214.7 billion won (US$214 million) to build a liquid crystal display (LCD) plant, the company said in a regulatory filing.
The investment is most likely to be made in its plant operated jointly with Sony Corp. (TSE:6758), located south of Seoul in Tangjeong, according to industry watchers.
The company did not give further details. Samsung and Sony set up a US$2 billion joint venture, S-LCD Corp., in South Korea in April 2005, initiating cooperative efforts in the LCD sector.
INDONESIAN PLANTATION FIRM TO STAGE IPO IN APRIL
JAKARTA (ANTARA News/Asia Pulse) - PT Gozco Plantations has said it will sell 1.5 billion shares or 30 per cent of its shares in an initial public offering (IPO) to be held next month.
The company said it hoped to secure approval from the capital market and financial agency watchdog Bapepam in the first week of next month. The company has named CLSA and Semesta Indovest as lead underwriters.
It said that 10 per cent of the funds from the share sales would be used to repay a debt owed by subsidiary PT Suryabumi and 15 per cent to increase its working capital, with the rest to finance seedling growing and cultivation.
JAPANESE FUND BUYS 5 PER CENT OF VIETNAM'S DIGINET
HANOI (ANTARA News/Asia Pulse) - The Ho Chi Minh City-based Dinh Gia Net Joint Stock Corp (DigiNet) and the Japan Vietnam Growth Fund (JVGF) signed a strategic partnership agreement on March 21.
Under the agreement, the fund will purchase a five per cent stake in DigiNet, a leading company in the business management software sector.
Speaking at the signing ceremony, the chairman of DigiNet's management board, Tran Dao Anh, said the agreement marked a new development for DigiNet. "It offers DigiNet a good opportunity to enter a new market - Japanese companies in Vietnam - and later the Japanese market," said Anh.
MIZUNO CORP TO OPEN FRANCHISE CHAIN IN SOUTH KOREA
TOKYO (ANTARA News/Asia Pulse) - Japan's Mizuno Corp. (TSE:8022) is making a full-scale entry into the South Korean market by opening a chain of franchise stores there that will exclusively offer the firm's products.
The company began opening Mizuno Shop stores last month and will have 19 in operation by the end of March.
It plans to expand the chain to 30 stores in 2008 and 160 by 2012. Development of the chain is being entrusted to a local sales agent which until now has wholesaled Mizuno products.
TOP MALAYSIAN LENDER BUYS STAKE IN VIETNAMESE BANK
HANOI (ANTARA News/Asia Pulse) - Malaysia's top lender, Malayan Banking Bhd (Maybank), said that it had signed an agreement with Vietnam's An Binh Commercial Joint Stock Bank to acquire a 15 per cent stake in the An Binh Bank for 430 million ringgit (roughly US$135.2 million) cash.
Maybank said in a recent statement that it may also take up an additional 5 per cent equity in the near future, pending approval by the Vietnamese Government.
Vietnam's current regulations allow foreign banks to own up to 15 per cent equity in a Vietnamese bank with the possibility of increasing the stake to 20 per cent - subject to approval by the government, Malaysia's The Star newspaper reported.
TOYOTA TO BUILD NEW ENGINE PLANT IN JAPAN
NAGOYA (ANTARA News/Asia Pulse) - Toyota Motor Corp. (TSE:7203) plans to open a factory in Miyagi Prefecture to begin manufacturing small-displacement engines for subcompact cars in around 2010, The Nikkei learned Friday.
The company's fifth engine plant in Japan will likely start up with an annual production capacity of roughly 200,000 units. The investment is estimated at about 20-30 billion yen (US$200.9 million-$301.4 million).
The engine factory, the leading Japanese automaker's first in the northern Japanese region of Tohoku, is expected to be built near the town of Taiwa, where Toyota Motor Tohoku Corp. makes brake parts and other car components.
MALAYSIA'S PARKSON TO BUILD SHOPPING MALL IN KUALA LUMPUR
KUALA LUMPUR (ANTARA News/Asia Pulse) - Parkson Holdings (KLSE:5657) said its wholly-owned unit Spring Active Sdn Bhd will build a shopping mall in Setapak in Kuala Lumpur at a total cost of RM214 million (US$67.2 million).
The mall, which will have three floors of retail space and minimum gross retail area of 690,000 sq ft, is due for completion in the second half of June 2009, Parkson said in a statement to Bursa Malaysia on March 21.
The mall will also have a basement floor of 328,000 sq ft made up of about 900 car parking bays, 140 motorcycle bays and 6,700 sq ft of retail shops.
KOREA'S KOOKMIN BANK TO SPIN OFF CREDIT CARD UNIT
SEOUL (ANTARA News/Asia Pulse) - South Korea's top lender, Kookmin Bank (KSE:060000), said Thursday it plans to spin off its credit card unit next year after setting up a holding company as part of its efforts to beef up its non-banking business.
Kookmin Bank plans to form the holding company, tentatively named KB Financial Holding Co., in September to spin off the credit card business within one year, the lender said in a regulatory filing.
Kookmin's board decided to apply to establish the holding company earlier in the day, and submitted a preliminary application to the financial watchdog, the Financial Services Commission.
MARUBENI UNIT TO SELL NEW U.S.-MADE BUSINESS JETS IN JAPAN
TOKYO (ANTARA News/Asia Pulse) - A wholly-owned Marubeni Corp. (TSE:8002) subsidiary will this spring begin Japanese sales of a new corporate jet developed by U.S. firm Gulfstream Aerospace Corp. The G650 can fly nonstop for 13,000km, outperforming other currently available luxury models.
From Tokyo, the executive jet can cover all of the Northern Hemisphere and reach northern sections of South America, as well as major cities in North Africa.
With a maximum cruise speed of Mach 0.9, the aircraft flies between Tokyo and New York in a little more than 13 hours. The business jet will be sold for $US58.5 million or about 5.8 billion yen, with delivery to start in 2012.
SAMSUNG ELECTRONICS TO BUILD HANDSET PLANT IN VIETNAM
SEOUL (ANTARA News/Asia Pulse) - Samsung Electronics Co. (KSE:05930) said Friday it plans to build a mobile phone plant in northern Vietnam.
The company said in a regulatory filing that it will channel 50.5 billion won (US$50.1 million) to its holding company in Singapore to establish the Vietnamese subsidiary, tentatively named Samsung Electronics Vietnam.
The plant, to be located in Bac Ninh Province, 30 kilometers northeast of Hanoi, will initially have an annual production capacity of 30 million units, which may expand up to 100 million in the future.
Source:
Business in Asia Today - Mar. 24, 2008
published by Asia Pulse
COPYRIGHT © 2008
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