GULF PETROLEUM TO BUILD US$5 BLN OIL/GAS COMPLEX IN MALAYSIA
Kuala Lumpur (ANTARA News/Asia Pulse) - Qatar based Gulf Petroleum Ltd has received the final and official approvals from the Malaysian government to build a US$5 billion integrated oil and gas complex in the northern state of Perak.
The approval letter was issued by the Ministry of International Trade and Industry to the company on Friday, a statement from Gulf Petroleum said here Monday.
Its director Nor Azmi Abdullah said the company will be announcing its consortium members from time to time. The consortium plans to start the development upon finalisation of technical issues with regard to the proposed 400-hectare site in Manjung.
LG ELECTRONICS AIMS FOR US$4.5 BLN TURNOVER FROM INDIA BY 2010
New Delhi (ANTARA News/Asia Pulse) - South Korean consumer durables maker LG Electronics (KSE:066570) is targeting a turnover of Rs 18,000 crore (US$4.5 billiion) by 2010 in India, accounting for about 10 per cent of the company's global sales, besides developing the country as an export hub.
LG, which is celebrating the 11th year of operations in the country, is also considering getting into new categories like air purifiers, wine cellars and built-in kitchens in the Indian market.
LG Electronics India Limited (LGEIL) Sales and Marketing Director V Ramachandran said LG expects to clock a turnover of Rs 180 billion in the next two years in India.
Currently, the country contributes 6 per cent to the global turnover, which is likely to go up to 10 per cent by 2010, he said.
HYUNDAI MOBIS POSTS 7.1% RISE IN Q1 PROFIT
Seoul (ANTARA News/Asia Pulse) - Hyundai Mobis Co. (KSE:012330), South Korea's largest auto-parts maker, said Tuesday its net profit for the first-quarter of this year gained 7.1 per cent from a year earlier on the back of increased vehicle sales of its parent company Hyundai Motor (KSE:005380).
For the three months ended March 31, Hyundai Mobis earned 215 billion won (US$215 million), compared with 201 billion won a year earlier, the company said in a statement.
Operating profit rose 25 per cent to 264 billion won and sales climbed 18 per cent to 2.37 trillion won, Hyundai Mobis said.
JSX-LISTED BANK CENTRAL ASIA POSTS US$130 MLN Q1 NET PROFIT
Jakarta (ANTARA News/Asia Pulse) - Publicly-listed Bank Central Asia (BCA) Tbk (JSX:BBCA) posted a net profit of Rp1.2 trillion (US$130.8 million) in the first quarter of 2008, up 8.4 per cent from the same period last year when it was Rp1.1 trillion.
"The significant growth of net income and fee-based income was the key driver of BCA's profit," BCA President Director DE Soetijoso said on Monday.
On a yearly basis, net interest income grew by 13.9 per cent to Rp2.6 trillion while fee-based
income rose by 23.7 per cent to Rp0.8 trillion in the first quarter of 2008, he said.
PHILIPPINES' ABOITIZ POWER POSTS NET INCOME OF US$25 MLN IN Q1
Manila (ANTARA News/Asia Pulse) - Aboitiz Power Corporation (AP) on Monday reported that its net income for the first three months of 2008 reached P1.055 billion (US$25.4 milliion), up by 150 per cent from last year's P422 million.
The Philippines based company said the increase in their income was mainly due to the acquisition of the new plants which contributed about P584 million.
Leading the pack was the 360-MW Magat hydro plant, which was able to turn in significant profit contributions as it realized favorable average selling prices at the electricity spot market.
The 200 per cent increase in AP's attributable power generating capacity from 164 MW to 490 MW resulted in a 942 per cent year-on-year growth in power sales, from 36 GwH to 377 GwH.
CARLSBERG MALAYSIA POSTS 151.2 PCT JUMP IN Q1 PRE-TAX PROFIT
Kuala Lumpur (ANTARA News/Asia Pulse) - Carlsberg Brewery Malaysia Berhad (KLSE:2836) has posted a 151.2 per cent jump in first quarter pre-tax profit, pushed by brisk domestic sales, particularly in the Chinese New Year festive period.
Profit for the three months ended 31 March 2008 climbed to RM35.491 million (US$11.1 million) from RM14.126 million for the previous corresponding period.
Revenue rose 14.4 per cent to RM289.433 million from RM252.990 million previously, the brewer said in a filing to Bursa Malaysia on April 25. Earnings per share surged to 8.67 sen from 3.48 sen a year earlier.
EXPORT VALUE OF THAI VEHICLES, PARTS JUMPS 34% IN Q1
Bangkok (ANTARA News/Asia Pulse) - Thailand earned about Bt139.5 billion (US$4.4 billion) from the export of fully assembled cars, motorcycles and parts during the first quarter of 2008, an official said Monday.
Surapong Paisitpatnapong, spokesman of the Federation of Thai Industries (FTI) Automotive Industry Club, said that the value of exports jumped 33.66 per cent from the comparable period of 2007.
During the first quarter this year, the country produced 365,623 cars, up 24.52 per cent from the corresponding period of last year, said Mr Surapong.
Car exports during the first three months this year totaled 197,550 units, up 27.85 per cent from a year ago, while the country earned about Bt88.9 billion, an increase of 29.88 per cent, he said.
VIETNAM'S PLASTICS INDUSTRY GENERATES US$200 MLN IN Q1
Hanoi (ANTARA News/Asia Pulse) - Vietnam's plastics industry earned nearly US$200 million in the first quarter, thus is well on the way to meeting its US$1 billion export target for 2008, according to the Ministry of Industry and Trade (MoIT). Previously the industry has performed sluggishly in the first quarter, owing to a lunar New Year hangover. This time around, however, MoIT statistics show that the industry recorded a year-on-year growth rate of more than 35 per cent in the first quarter.
Vietnam's plastics exports have firm potential as its growth rates are high, just behind industrial products, pepper and coffee.
FIAT TAKES CENTRAL REGIONS AS ITS STRATEGIC PRIORITY IN CHINA
Wuhan (ANTARA News/Asia Pulse) - FIAT has taken the central areas as one important part of its China development strategy with investment in western and central China surpassing 300 million yuan (US$42.84 million), accounting for 33 per cent of its investment in the country, said a senior official of FIAT.
Franco Amadei, Chairman of FIAT China said that with the implementation of the strategies of western China development and the rise of central China, FIAT Group has begun to move its investment from east to west China.
So far three companies under the flag of FIAT Group have set up production bases of automobile spare parts, heavy-duty trucks and commercial diesel engines in Anhui Wuhu and Chongqing.
S KOREA'S SHINSEGAE EYES 100 DISCOUNT STORES IN CHINA BY 2014
Shanghai (ANTARA News/Asia Pulse) - South Korean retailer Shinsegae said Tuesday it aims to open 100 discount stores in China by 2014, as part of its aggressive push into the world's fastest-growing consumer economy.
To meet the target, Shinsegae, which operates South Korea's top discount emporia E-Mart, plans to spend more than 500 billion won (US$500 million) in China over the next six years, the company's top executive said.
"Our target is to open the 70th store in 2012 and the 100th store in 2014," Shinsegae Vice Chairman Chung Yong-jin told reporters in Shanghai as he launched the company's 11th E-Mart outlet here.
Source:
Business in Asia Today - APRIL 29, 2008
published by Asia Pulse
COPYRIGHT © 2008
Kuala Lumpur (ANTARA News/Asia Pulse) - Qatar based Gulf Petroleum Ltd has received the final and official approvals from the Malaysian government to build a US$5 billion integrated oil and gas complex in the northern state of Perak.
The approval letter was issued by the Ministry of International Trade and Industry to the company on Friday, a statement from Gulf Petroleum said here Monday.
Its director Nor Azmi Abdullah said the company will be announcing its consortium members from time to time. The consortium plans to start the development upon finalisation of technical issues with regard to the proposed 400-hectare site in Manjung.
LG ELECTRONICS AIMS FOR US$4.5 BLN TURNOVER FROM INDIA BY 2010
New Delhi (ANTARA News/Asia Pulse) - South Korean consumer durables maker LG Electronics (KSE:066570) is targeting a turnover of Rs 18,000 crore (US$4.5 billiion) by 2010 in India, accounting for about 10 per cent of the company's global sales, besides developing the country as an export hub.
LG, which is celebrating the 11th year of operations in the country, is also considering getting into new categories like air purifiers, wine cellars and built-in kitchens in the Indian market.
LG Electronics India Limited (LGEIL) Sales and Marketing Director V Ramachandran said LG expects to clock a turnover of Rs 180 billion in the next two years in India.
Currently, the country contributes 6 per cent to the global turnover, which is likely to go up to 10 per cent by 2010, he said.
HYUNDAI MOBIS POSTS 7.1% RISE IN Q1 PROFIT
Seoul (ANTARA News/Asia Pulse) - Hyundai Mobis Co. (KSE:012330), South Korea's largest auto-parts maker, said Tuesday its net profit for the first-quarter of this year gained 7.1 per cent from a year earlier on the back of increased vehicle sales of its parent company Hyundai Motor (KSE:005380).
For the three months ended March 31, Hyundai Mobis earned 215 billion won (US$215 million), compared with 201 billion won a year earlier, the company said in a statement.
Operating profit rose 25 per cent to 264 billion won and sales climbed 18 per cent to 2.37 trillion won, Hyundai Mobis said.
JSX-LISTED BANK CENTRAL ASIA POSTS US$130 MLN Q1 NET PROFIT
Jakarta (ANTARA News/Asia Pulse) - Publicly-listed Bank Central Asia (BCA) Tbk (JSX:BBCA) posted a net profit of Rp1.2 trillion (US$130.8 million) in the first quarter of 2008, up 8.4 per cent from the same period last year when it was Rp1.1 trillion.
"The significant growth of net income and fee-based income was the key driver of BCA's profit," BCA President Director DE Soetijoso said on Monday.
On a yearly basis, net interest income grew by 13.9 per cent to Rp2.6 trillion while fee-based
income rose by 23.7 per cent to Rp0.8 trillion in the first quarter of 2008, he said.
PHILIPPINES' ABOITIZ POWER POSTS NET INCOME OF US$25 MLN IN Q1
Manila (ANTARA News/Asia Pulse) - Aboitiz Power Corporation (AP) on Monday reported that its net income for the first three months of 2008 reached P1.055 billion (US$25.4 milliion), up by 150 per cent from last year's P422 million.
The Philippines based company said the increase in their income was mainly due to the acquisition of the new plants which contributed about P584 million.
Leading the pack was the 360-MW Magat hydro plant, which was able to turn in significant profit contributions as it realized favorable average selling prices at the electricity spot market.
The 200 per cent increase in AP's attributable power generating capacity from 164 MW to 490 MW resulted in a 942 per cent year-on-year growth in power sales, from 36 GwH to 377 GwH.
CARLSBERG MALAYSIA POSTS 151.2 PCT JUMP IN Q1 PRE-TAX PROFIT
Kuala Lumpur (ANTARA News/Asia Pulse) - Carlsberg Brewery Malaysia Berhad (KLSE:2836) has posted a 151.2 per cent jump in first quarter pre-tax profit, pushed by brisk domestic sales, particularly in the Chinese New Year festive period.
Profit for the three months ended 31 March 2008 climbed to RM35.491 million (US$11.1 million) from RM14.126 million for the previous corresponding period.
Revenue rose 14.4 per cent to RM289.433 million from RM252.990 million previously, the brewer said in a filing to Bursa Malaysia on April 25. Earnings per share surged to 8.67 sen from 3.48 sen a year earlier.
EXPORT VALUE OF THAI VEHICLES, PARTS JUMPS 34% IN Q1
Bangkok (ANTARA News/Asia Pulse) - Thailand earned about Bt139.5 billion (US$4.4 billion) from the export of fully assembled cars, motorcycles and parts during the first quarter of 2008, an official said Monday.
Surapong Paisitpatnapong, spokesman of the Federation of Thai Industries (FTI) Automotive Industry Club, said that the value of exports jumped 33.66 per cent from the comparable period of 2007.
During the first quarter this year, the country produced 365,623 cars, up 24.52 per cent from the corresponding period of last year, said Mr Surapong.
Car exports during the first three months this year totaled 197,550 units, up 27.85 per cent from a year ago, while the country earned about Bt88.9 billion, an increase of 29.88 per cent, he said.
VIETNAM'S PLASTICS INDUSTRY GENERATES US$200 MLN IN Q1
Hanoi (ANTARA News/Asia Pulse) - Vietnam's plastics industry earned nearly US$200 million in the first quarter, thus is well on the way to meeting its US$1 billion export target for 2008, according to the Ministry of Industry and Trade (MoIT). Previously the industry has performed sluggishly in the first quarter, owing to a lunar New Year hangover. This time around, however, MoIT statistics show that the industry recorded a year-on-year growth rate of more than 35 per cent in the first quarter.
Vietnam's plastics exports have firm potential as its growth rates are high, just behind industrial products, pepper and coffee.
FIAT TAKES CENTRAL REGIONS AS ITS STRATEGIC PRIORITY IN CHINA
Wuhan (ANTARA News/Asia Pulse) - FIAT has taken the central areas as one important part of its China development strategy with investment in western and central China surpassing 300 million yuan (US$42.84 million), accounting for 33 per cent of its investment in the country, said a senior official of FIAT.
Franco Amadei, Chairman of FIAT China said that with the implementation of the strategies of western China development and the rise of central China, FIAT Group has begun to move its investment from east to west China.
So far three companies under the flag of FIAT Group have set up production bases of automobile spare parts, heavy-duty trucks and commercial diesel engines in Anhui Wuhu and Chongqing.
S KOREA'S SHINSEGAE EYES 100 DISCOUNT STORES IN CHINA BY 2014
Shanghai (ANTARA News/Asia Pulse) - South Korean retailer Shinsegae said Tuesday it aims to open 100 discount stores in China by 2014, as part of its aggressive push into the world's fastest-growing consumer economy.
To meet the target, Shinsegae, which operates South Korea's top discount emporia E-Mart, plans to spend more than 500 billion won (US$500 million) in China over the next six years, the company's top executive said.
"Our target is to open the 70th store in 2012 and the 100th store in 2014," Shinsegae Vice Chairman Chung Yong-jin told reporters in Shanghai as he launched the company's 11th E-Mart outlet here.
Source:
Business in Asia Today - APRIL 29, 2008
published by Asia Pulse
COPYRIGHT © 2008
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