DAEWOO SHIPBUILDING INKS DEAL ON OMAN COMPLEX
Seoul (ANTARA News/Asia Pulse) - Daewoo Shipbuilding & Marine Engineering Co. (KSE:042660), the world's third-largest shipbuilder, said Wednesday that it has signed a memorandum of understanding with the government of Oman to develop an industrial area there.
The industrial area will be developed in Duqm, a port city about 450 kilometers southeast of the country's capital, Muscat, by 2020.
Details of the project will be decided later, according to the company.
If finalized, the deal estimated at 15 trillion won (US$15 billion) will be the biggest overseas contract a South Korean company has ever won.
INDIA'S RELIANCE INDUSTRIES POSTS 63% RISE IN YR NET PROFIT
Mumbai (ANTARA News/Asia Pulse) - Beating market expectations, Reliance Industries (BSE: 500325), the biggest private sector company in India, has posted a whopping 63 per cent rise in net profit at Rs 19,458 crore (US$4.9 billion) for 2007-08 on robust growth in refining, petrochemicals and exploration businesses.
RIL's turnover for the fiscal year ended March 31, rose 18 per cent to Rs 1,39,269 crore, while its cash profit rose 43 per cent to Rs 25,205 crore, the company said in a statement.
RIL Chairman and Managing Director Mukesh Ambani said it was a a "landmark year for Reliance" as it posted record financial and operating performance in challenging and volatile market conditions.
ANZ BANK POSTS 7 PCT DECLINE IN H1 PROFIT
Sydney (ANTARA News/Asia Pulse) - ANZ Banking Group Ltd (ASX:ANZ) said provisions and non-performing loans increased as it announced a seven per cent decline in profit in the half year ended March 31.
Profit after tax declined to $A1.963 billion ($US1.85 billion) and operating income for the same period gained 15 per cent to $6.437 billion, Melbourne-headquartered ANZ said in a statement today.
"The global environment is challenging, and in areas like retail sales, we are seeing early signs of a downturn in our domestic markets. However, with the steps we have taken to strengthen our balance sheet, we are particularly well placed to weather global volatility," ANZ chief executive Mike Smith said.
BHP BILLITON POSTS PRODUCTION INCREASE IN FIRST 9MONTHS FY08
Sydney (ANTARA News/Asia Pulse) - BHP Billiton Ltd (ASX:BHP) says production of its 12 main commodities increased over the first nine months of fiscal 2008, including iron ore and petroleum.
Total petroleum product output rose 10 per cent to 93.27 million barrels of oil equivalent (mmboe) in the nine months ended March from the same period a year ago.
Over the third quarter petroleum production rose 19 per cent to 32.73 mmboe. BHP Billiton said it was on track to deliver a 10 per cent rise in petroleum volume growth in the year.
The production rise was mainly driven by the continued ramp up of the Stybarrow field in Australia, Genghis Khan and Atlantis in the US.
BAT MALAYSIA BOOKS 5.7 PCT RISE IN Q1 PRE-TAX PROFIT ON DUNHILL SALES
Kuala Lumpur (ANTARA News/Asia Pulse) - British American Tobacco (Malaysia) Berhad (BAT Malaysia) (KLSE:4162) has posted a 5.7 per cent increase in first quarter pre-tax profit, driven by the "exceptional" performance of Dunhill as well as continued productivity savings.
For the three months ended 31 March 2008, its pre-tax profit rose to RM285.142 million compared with RM269.680 million a year earlier.
The higher profit was achieved on the back of a 9.0 per cent increase in revenue to RM1.021 billion from RM937.186 million previously, the nation's leading cigarette maker said in a filing to Bursa Malaysia on April 22.
MAHINDRA LIFESPACES INKS PACT WITH AYALA FOR RESIDENTIAL PROJECT
New Delhi (ANTARA News/Asia Pulse) - Mahindra Lifespaces Developers, part of Mahindra & Mahindra [BSE: 500520) group, has signed a joint venture agreement with Phillipines-based real estate major Ayala Land, for developing residential complexes. Under the joint venture agreement Mahindra Lifespaces and Ayala Landa will undertake the development of a gated community in 55 acres within Mahindra Lifespaces' SEZ at Mahindra World City, Chennai, the company said in a statement here.
Mahindra Residential Development Ltd will have 51 per cent stake in the joint venture, while Ayala Land - affiliation of ARCH Capital Asian Partners - will have 49 per cent.
SAMSUNG SDS WINS US$22 MLN ORDER FROM INDIA
Seoul (ANTARA News/Asia Pulse) - Samsung SDS Co., a systems integration unit of Samsung Group, said Wednesday it has clinched a US$22 million order from India to establish an automatic fare collection (AFC) system for a subway network.
Samsung SDS, together with India's Kalindee Rail Nirman Ltd., recently won a bid placed by the metropolitan government of Delhi to facilitate an AFC system for 41 subway stations in the Indian city, the Korean company said.
The construction of the system, currently used in a number of stations in Seoul and Guangzhou, China, will be completed by May 2010, it said.
MALAYSIA SMELTING COMPANY TO BUILD JV PLANT IN CHINA
Kuala Lumpur (ANTARA News/Asia Pulse) - Malaysia Smelting Corp Bhd (MSCB) (KLSE:5916) will spend RM20 million (US$6.37 million) to build a new tin-smelting plant it partly owns in China's Guangxi Autonomous Region, local media reported on Wednesday.
The plant, of which the company holds a 40 per cent stake, is due to begin production by June this year, its group chief executive officer and executive director Mohd Ajib Anuar said after its annual general meeting in northern Penang state.
RANBAXY ENTERS INTO STRATEGIC BIZ ALLIANCE WITH ORCHID
Mumbai (ANTARA News/Asia Pulse) - Pharma major Ranbaxy Laboratories (BSE: 500359) Tuesday said it has entered into a business alliance agreement with Orchid Chemicals & Pharmaceuticals (BSE: 524372) involving multiple geographies and therapies for both finished dosage formulations and active pharmaceutical ingredients.
Further, the pact would establish a framework for enhanced future co-operation between the two companies, Ranbaxy said in a filing to the Bombay Stock Exchange.
HANOI BEER CO TO SELL CARLSBERG LEFT-OVER SHARES
Hanoi (ANTARA News/Asia Pulse) - The Hanoi Beer Alcohol and Beverage Co (Habeco) will sell a portion of the shares left over from its undersubscribed initial public offering (IPO) to its foreign strategic partner, Denmark-based brewer Carlberg. Habeco is working on a detailed plan for the sale of shares, according to a representative of the company's accounting department.
The price will be consistent with IPO price of 50,000 VND (US$3.10) per share, he said, noting, however, that the actual price to be paid by Carlsberg could not be disclosed.
Source:
Business in Asia Today - APRIL 23, 2008
published by Asia Pulse
COPYRIGHT © 2008
Seoul (ANTARA News/Asia Pulse) - Daewoo Shipbuilding & Marine Engineering Co. (KSE:042660), the world's third-largest shipbuilder, said Wednesday that it has signed a memorandum of understanding with the government of Oman to develop an industrial area there.
The industrial area will be developed in Duqm, a port city about 450 kilometers southeast of the country's capital, Muscat, by 2020.
Details of the project will be decided later, according to the company.
If finalized, the deal estimated at 15 trillion won (US$15 billion) will be the biggest overseas contract a South Korean company has ever won.
INDIA'S RELIANCE INDUSTRIES POSTS 63% RISE IN YR NET PROFIT
Mumbai (ANTARA News/Asia Pulse) - Beating market expectations, Reliance Industries (BSE: 500325), the biggest private sector company in India, has posted a whopping 63 per cent rise in net profit at Rs 19,458 crore (US$4.9 billion) for 2007-08 on robust growth in refining, petrochemicals and exploration businesses.
RIL's turnover for the fiscal year ended March 31, rose 18 per cent to Rs 1,39,269 crore, while its cash profit rose 43 per cent to Rs 25,205 crore, the company said in a statement.
RIL Chairman and Managing Director Mukesh Ambani said it was a a "landmark year for Reliance" as it posted record financial and operating performance in challenging and volatile market conditions.
ANZ BANK POSTS 7 PCT DECLINE IN H1 PROFIT
Sydney (ANTARA News/Asia Pulse) - ANZ Banking Group Ltd (ASX:ANZ) said provisions and non-performing loans increased as it announced a seven per cent decline in profit in the half year ended March 31.
Profit after tax declined to $A1.963 billion ($US1.85 billion) and operating income for the same period gained 15 per cent to $6.437 billion, Melbourne-headquartered ANZ said in a statement today.
"The global environment is challenging, and in areas like retail sales, we are seeing early signs of a downturn in our domestic markets. However, with the steps we have taken to strengthen our balance sheet, we are particularly well placed to weather global volatility," ANZ chief executive Mike Smith said.
BHP BILLITON POSTS PRODUCTION INCREASE IN FIRST 9MONTHS FY08
Sydney (ANTARA News/Asia Pulse) - BHP Billiton Ltd (ASX:BHP) says production of its 12 main commodities increased over the first nine months of fiscal 2008, including iron ore and petroleum.
Total petroleum product output rose 10 per cent to 93.27 million barrels of oil equivalent (mmboe) in the nine months ended March from the same period a year ago.
Over the third quarter petroleum production rose 19 per cent to 32.73 mmboe. BHP Billiton said it was on track to deliver a 10 per cent rise in petroleum volume growth in the year.
The production rise was mainly driven by the continued ramp up of the Stybarrow field in Australia, Genghis Khan and Atlantis in the US.
BAT MALAYSIA BOOKS 5.7 PCT RISE IN Q1 PRE-TAX PROFIT ON DUNHILL SALES
Kuala Lumpur (ANTARA News/Asia Pulse) - British American Tobacco (Malaysia) Berhad (BAT Malaysia) (KLSE:4162) has posted a 5.7 per cent increase in first quarter pre-tax profit, driven by the "exceptional" performance of Dunhill as well as continued productivity savings.
For the three months ended 31 March 2008, its pre-tax profit rose to RM285.142 million compared with RM269.680 million a year earlier.
The higher profit was achieved on the back of a 9.0 per cent increase in revenue to RM1.021 billion from RM937.186 million previously, the nation's leading cigarette maker said in a filing to Bursa Malaysia on April 22.
MAHINDRA LIFESPACES INKS PACT WITH AYALA FOR RESIDENTIAL PROJECT
New Delhi (ANTARA News/Asia Pulse) - Mahindra Lifespaces Developers, part of Mahindra & Mahindra [BSE: 500520) group, has signed a joint venture agreement with Phillipines-based real estate major Ayala Land, for developing residential complexes. Under the joint venture agreement Mahindra Lifespaces and Ayala Landa will undertake the development of a gated community in 55 acres within Mahindra Lifespaces' SEZ at Mahindra World City, Chennai, the company said in a statement here.
Mahindra Residential Development Ltd will have 51 per cent stake in the joint venture, while Ayala Land - affiliation of ARCH Capital Asian Partners - will have 49 per cent.
SAMSUNG SDS WINS US$22 MLN ORDER FROM INDIA
Seoul (ANTARA News/Asia Pulse) - Samsung SDS Co., a systems integration unit of Samsung Group, said Wednesday it has clinched a US$22 million order from India to establish an automatic fare collection (AFC) system for a subway network.
Samsung SDS, together with India's Kalindee Rail Nirman Ltd., recently won a bid placed by the metropolitan government of Delhi to facilitate an AFC system for 41 subway stations in the Indian city, the Korean company said.
The construction of the system, currently used in a number of stations in Seoul and Guangzhou, China, will be completed by May 2010, it said.
MALAYSIA SMELTING COMPANY TO BUILD JV PLANT IN CHINA
Kuala Lumpur (ANTARA News/Asia Pulse) - Malaysia Smelting Corp Bhd (MSCB) (KLSE:5916) will spend RM20 million (US$6.37 million) to build a new tin-smelting plant it partly owns in China's Guangxi Autonomous Region, local media reported on Wednesday.
The plant, of which the company holds a 40 per cent stake, is due to begin production by June this year, its group chief executive officer and executive director Mohd Ajib Anuar said after its annual general meeting in northern Penang state.
RANBAXY ENTERS INTO STRATEGIC BIZ ALLIANCE WITH ORCHID
Mumbai (ANTARA News/Asia Pulse) - Pharma major Ranbaxy Laboratories (BSE: 500359) Tuesday said it has entered into a business alliance agreement with Orchid Chemicals & Pharmaceuticals (BSE: 524372) involving multiple geographies and therapies for both finished dosage formulations and active pharmaceutical ingredients.
Further, the pact would establish a framework for enhanced future co-operation between the two companies, Ranbaxy said in a filing to the Bombay Stock Exchange.
HANOI BEER CO TO SELL CARLSBERG LEFT-OVER SHARES
Hanoi (ANTARA News/Asia Pulse) - The Hanoi Beer Alcohol and Beverage Co (Habeco) will sell a portion of the shares left over from its undersubscribed initial public offering (IPO) to its foreign strategic partner, Denmark-based brewer Carlberg. Habeco is working on a detailed plan for the sale of shares, according to a representative of the company's accounting department.
The price will be consistent with IPO price of 50,000 VND (US$3.10) per share, he said, noting, however, that the actual price to be paid by Carlsberg could not be disclosed.
Source:
Business in Asia Today - APRIL 23, 2008
published by Asia Pulse
COPYRIGHT © 2008
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