AUSTRALIA'S NEWCREST PAYS US$525 MLN TO TIE UP WITH S AFRICAN GOLD MAJOR
Melbourne (ANTARA News/Asia Pulse) - Newcrest Mining Ltd (ASX:NCM), Australia's largest gold producer, has agreed to pay US$525 million (A$557.03 million) to partner South Africa's Harmony Gold Mining Ltd in the company's Papua New Guinea gold assets.
Newcrest will earn a 50 per cent stake in Harmony's Hidden Valley gold and silver project, the Wafi-Golpu gold and copper deposit, and more than 3,400 square kilometres of exploration tenements 300 kilometres north-east of Port Moresby.
The Hidden Valley project is scheduled to start in mid-2009 and produce about 250,000 ounces of gold and 3.6 million ounces of silver over a 14 year mine life.
LG CORP. PUSHES FOR OMANI COAL PROJECTS
Seoul (ANTARA News/Asia Pulse) - LG Corp. (KSE:003550) said Tuesday it has signed a preliminary deal with Oman Oil Co. (OOC), an Omani state-run investment firm, to set up a joint venture aimed at securing coal mines overseas.
LG also said it clinched another preliminary deal with Korea Southern Power Co., a unit of Korea Electric Power Corp. (KEPCO) (KSE:015760) and the Omani investment firm to bid for a US$2 billion desalination and coal power plant awarded by Oman's government.
The Omani government is pressing ahead with the approximately 1,200 megawatt plant with to diversify its energy sources, LG said. LG and OOC will invest equally in the joint venture and OOC will provide coal to the plant, LG added.
JR EAST'S PRETAX PROFIT SEEN AT RECORD US$3.2 BLN IN FY07
Tokyo (ANTARA News/Asia Pulse) - East Japan Railway Co. (TSE:9020) is likely to post a group pretax profit of 330 billion yen (US$3.2 billion) for fiscal 2007, up 10 per cent and marking a record high for the third year running.
Growing ridership fueled the gain for Japan's largest railroad operator, also known as JR East. Revenue climbed 2 per cent to around 2.7 trillion yen.
CHINA'S DONGFENG MOTOR TO INVEST HEAVILY IN PRODUCTION EXPANSION
Beijing (ANTARA News/Asia Pulse) - Dongfeng Motor Group, one of the top three automakers in China, plans to invest 23 billion yuan (US$3.285 billion) to expand production in the 2008-2009 period, according to high-ranking sources of the group attending the on-going Beijing auto show.
The group, based in central China's Hubei province, plans to bring its production capacity from 1.117 million vehicles in the end of 2007 to 1.61 million by 2010. Of the total investment, 11.0 billion yuan will be made in 2008, and 12.0 billion yuan in 2009.
INDONESIA'S INTI KAPUAS TO BUY MORE OIL PALM PLANTATIONS
Jakarta (ANTARA News/Asia Pulse) - Indonesia's PT Inti Kapuas Arowana said it has set aside US$120 million to acquire more oil palm plantations.
Earlier Inti Kapuas signed an agreement for the acquisition of the palm plantations of PT Dendymarker Indahlestari and PT Anam Koto at a price of US$80 million from Malaysia's Boustead Estates Agency.
Corporate secretary Veronica Dini Krissanti said after a shareholders' meeting yesterday part of the fund will also be used to expand the land bank for the future expansion of oil palm plantations.
CHINESE ELECTRONICS CO CHANGHONG SEES US$48 MLN NET PROFIT IN 07
Beijing (ANTARA News/Asia Pulse) - China's leading electronic appliances maker Sichuan Changhong Electric Co., Ltd. (SSX:600839) reported a 337 million yuan (US$48.14 million) net profit in 2007, up 47.14 per cent year on year, thanks to the company's adjustment of industrial structure and management.
Business revenue hiked 21.99 per cent to reach 23.047 billion yuan; business profit rose 22.09 per cent and hit 427 million yuan; and EPS was 0.18 yuan.
Changhong's color TV sector generated 10.831 billion yuan in revenue, rising 13.63 per cent year on year and accounting for 46.99 per cent of the total.
TAIWAN SIGNS MOC WITH INTEL TO PROMOTE WIMAX APPLICATION
Taipei (ANTARA News/Asia Pulse) - Intel signed a Memorandum of Cooperation (MOC) with Taiwan Monday to jointly develop WiMAX service applications for the telecommunication sector in Taiwan, with a portion of the funding coming from a separate but complementary US$500 million investment and procurement program from 2008 to 2013.
Sean Maloney, Intel's executive vice president and chief sales and marketing officer, signed the agreement with the Ministry of Economic Affairs (MOEA) on behalf of the U.S. chip maker.
He noted that Intel plans to spend US$500 million on procurement and investment in Taiwan from 2008-2013 to promote the local WiMAX industry.
SUNTORY TO ENTER U.S. MARKET WITH GREEN TEA OFFERINGS
Tokyo (ANTARA News/Asia Pulse) - Japan's Suntory Ltd. will next month begin sales of green tea drinks in the U.S. using the retail network of its tie-up partner, Swiss food giant Nestle SA, The Nikkei learned Monday.
Facing a saturated domestic market amid the declining Japanese population, Suntory has set its sights on the U.S., where green tea products are gaining in popularity among health-conscious consumers.
Nestle will be given exclusive sales rights to Suntory's regular and roasted green tea drinks sold under the Iemon brand.
The firm is considering local production as well as entry into the European market.
VOLVO TO PRODUCE S80 SEDAN IN CHINA
Beijing (ANTARA News/Asia Pulse) - Volvo Group plans to produce a second type of sedan at the Changan Ford Mazda Automobile Co., Ltd. production base in Southwest China's Chongqing Municipality.
The sedan type will be the S80, said Steven Armstrong, chief operating officer of Volvo, quoted by Chongqing Morning Post.
If the S80 project receives approval in Chongqing, China will become Volvo's largest production base outside of Europe, adding to its already existing S40 project in the country.
S KOREA'S S-OIL BOOKS 55 PCT SLUMP IN Q1 NET PROFIT
Seoul (ANTARA News/Asia Pulse) - South Korea's third largest refiner S-Oil Corp. (KSE:010950) said Tuesday its net income dropped 55 per cent in the first quarter from a year earlier.
Net profit came to 117 billion won (US$118 million) in the January-March period, compared with 258 billion won a year earlier, S-Oil said in a regulatory filing.
Sales rose 46 per cent to 4.87 trillion won in the first quarter, while operating profit fell 17.4 per cent to 320 billion won.
Source:
Business in Asia Today - APRIL 22, 2008
published by Asia Pulse
COPYRIGHT © 2008
Melbourne (ANTARA News/Asia Pulse) - Newcrest Mining Ltd (ASX:NCM), Australia's largest gold producer, has agreed to pay US$525 million (A$557.03 million) to partner South Africa's Harmony Gold Mining Ltd in the company's Papua New Guinea gold assets.
Newcrest will earn a 50 per cent stake in Harmony's Hidden Valley gold and silver project, the Wafi-Golpu gold and copper deposit, and more than 3,400 square kilometres of exploration tenements 300 kilometres north-east of Port Moresby.
The Hidden Valley project is scheduled to start in mid-2009 and produce about 250,000 ounces of gold and 3.6 million ounces of silver over a 14 year mine life.
LG CORP. PUSHES FOR OMANI COAL PROJECTS
Seoul (ANTARA News/Asia Pulse) - LG Corp. (KSE:003550) said Tuesday it has signed a preliminary deal with Oman Oil Co. (OOC), an Omani state-run investment firm, to set up a joint venture aimed at securing coal mines overseas.
LG also said it clinched another preliminary deal with Korea Southern Power Co., a unit of Korea Electric Power Corp. (KEPCO) (KSE:015760) and the Omani investment firm to bid for a US$2 billion desalination and coal power plant awarded by Oman's government.
The Omani government is pressing ahead with the approximately 1,200 megawatt plant with to diversify its energy sources, LG said. LG and OOC will invest equally in the joint venture and OOC will provide coal to the plant, LG added.
JR EAST'S PRETAX PROFIT SEEN AT RECORD US$3.2 BLN IN FY07
Tokyo (ANTARA News/Asia Pulse) - East Japan Railway Co. (TSE:9020) is likely to post a group pretax profit of 330 billion yen (US$3.2 billion) for fiscal 2007, up 10 per cent and marking a record high for the third year running.
Growing ridership fueled the gain for Japan's largest railroad operator, also known as JR East. Revenue climbed 2 per cent to around 2.7 trillion yen.
CHINA'S DONGFENG MOTOR TO INVEST HEAVILY IN PRODUCTION EXPANSION
Beijing (ANTARA News/Asia Pulse) - Dongfeng Motor Group, one of the top three automakers in China, plans to invest 23 billion yuan (US$3.285 billion) to expand production in the 2008-2009 period, according to high-ranking sources of the group attending the on-going Beijing auto show.
The group, based in central China's Hubei province, plans to bring its production capacity from 1.117 million vehicles in the end of 2007 to 1.61 million by 2010. Of the total investment, 11.0 billion yuan will be made in 2008, and 12.0 billion yuan in 2009.
INDONESIA'S INTI KAPUAS TO BUY MORE OIL PALM PLANTATIONS
Jakarta (ANTARA News/Asia Pulse) - Indonesia's PT Inti Kapuas Arowana said it has set aside US$120 million to acquire more oil palm plantations.
Earlier Inti Kapuas signed an agreement for the acquisition of the palm plantations of PT Dendymarker Indahlestari and PT Anam Koto at a price of US$80 million from Malaysia's Boustead Estates Agency.
Corporate secretary Veronica Dini Krissanti said after a shareholders' meeting yesterday part of the fund will also be used to expand the land bank for the future expansion of oil palm plantations.
CHINESE ELECTRONICS CO CHANGHONG SEES US$48 MLN NET PROFIT IN 07
Beijing (ANTARA News/Asia Pulse) - China's leading electronic appliances maker Sichuan Changhong Electric Co., Ltd. (SSX:600839) reported a 337 million yuan (US$48.14 million) net profit in 2007, up 47.14 per cent year on year, thanks to the company's adjustment of industrial structure and management.
Business revenue hiked 21.99 per cent to reach 23.047 billion yuan; business profit rose 22.09 per cent and hit 427 million yuan; and EPS was 0.18 yuan.
Changhong's color TV sector generated 10.831 billion yuan in revenue, rising 13.63 per cent year on year and accounting for 46.99 per cent of the total.
TAIWAN SIGNS MOC WITH INTEL TO PROMOTE WIMAX APPLICATION
Taipei (ANTARA News/Asia Pulse) - Intel signed a Memorandum of Cooperation (MOC) with Taiwan Monday to jointly develop WiMAX service applications for the telecommunication sector in Taiwan, with a portion of the funding coming from a separate but complementary US$500 million investment and procurement program from 2008 to 2013.
Sean Maloney, Intel's executive vice president and chief sales and marketing officer, signed the agreement with the Ministry of Economic Affairs (MOEA) on behalf of the U.S. chip maker.
He noted that Intel plans to spend US$500 million on procurement and investment in Taiwan from 2008-2013 to promote the local WiMAX industry.
SUNTORY TO ENTER U.S. MARKET WITH GREEN TEA OFFERINGS
Tokyo (ANTARA News/Asia Pulse) - Japan's Suntory Ltd. will next month begin sales of green tea drinks in the U.S. using the retail network of its tie-up partner, Swiss food giant Nestle SA, The Nikkei learned Monday.
Facing a saturated domestic market amid the declining Japanese population, Suntory has set its sights on the U.S., where green tea products are gaining in popularity among health-conscious consumers.
Nestle will be given exclusive sales rights to Suntory's regular and roasted green tea drinks sold under the Iemon brand.
The firm is considering local production as well as entry into the European market.
VOLVO TO PRODUCE S80 SEDAN IN CHINA
Beijing (ANTARA News/Asia Pulse) - Volvo Group plans to produce a second type of sedan at the Changan Ford Mazda Automobile Co., Ltd. production base in Southwest China's Chongqing Municipality.
The sedan type will be the S80, said Steven Armstrong, chief operating officer of Volvo, quoted by Chongqing Morning Post.
If the S80 project receives approval in Chongqing, China will become Volvo's largest production base outside of Europe, adding to its already existing S40 project in the country.
S KOREA'S S-OIL BOOKS 55 PCT SLUMP IN Q1 NET PROFIT
Seoul (ANTARA News/Asia Pulse) - South Korea's third largest refiner S-Oil Corp. (KSE:010950) said Tuesday its net income dropped 55 per cent in the first quarter from a year earlier.
Net profit came to 117 billion won (US$118 million) in the January-March period, compared with 258 billion won a year earlier, S-Oil said in a regulatory filing.
Sales rose 46 per cent to 4.87 trillion won in the first quarter, while operating profit fell 17.4 per cent to 320 billion won.
Source:
Business in Asia Today - APRIL 22, 2008
published by Asia Pulse
COPYRIGHT © 2008
No comments:
Post a Comment