CHINESE REGULATOR PROBES IRREGULAR SHARE SALES BY SICHUAN HONGDA
Beijing (ANTARA News/Asia Pulse) - China's securities regulator China Securities Regulatory Commission (CSRC) said Wednesday that it has put the Hongda case on file for investigation, a move believed to check irregular share selling on the Shanghai and Shenzhen bourses and in turn to assist in rallying sharp share price falls.
The case relates to the irregular sale of shares of Sichuan Hongda Co., Ltd. (600331:SSX) by two institutional shareholders
Sichuan Pingyuan Industry Development Co., Ltd. and Mianyang Yiduoyuan Real Estate Development Co., Ltd. on April 29.
The two shareholders respectively sold off shares representing 1.46 per cent and 1.35 per cent of Hongda's total share capital on the secondary market on the day.
These shares, originally non-tradable and newly freed from the lock-up period after completion of Hongda's split share structure reform, should be traded via the separate block trading system of the Shanghai bourse, according to CSRC's new regulation.
INDIA'S ANSAL PROPERTIES AND DUBAI FIRM TERMINATE AGREEMENT
Mumbai (ANTARA News/Asia Pulse) - Indian company Ansal Properties & Infrastructure Ltd (BSE:500013) has said its agreement with Dubai-based Deeyar Development PSC for a township project has been terminated.
Ansal Properties & Infrastructure informed the Bombay Stock Exchange that the transaction could not be given effect and necessary termination agreement for the same has been entered into on May 6.
In May last year, the company announced that it had signed a memorandum of understanding with the Dubai firm for developing a mega mixed use township comprising of residential, commercial, institutional and industrial properties in the country.
MALAYSIA'S FRASER & NEAVE REGISTERS 23.6 PCT JUMP IN H1 PROFIT
Kuala Lumpur (ANTARA News/Asia Pulse) - Fraser & Neave Holdings Bhd (F&N) (KLSE:3689) has registered a 23.6 per cent year-on-year jump in interim pre-tax profit to RM132.161 million (US$41.3 million), driven by volume and selling price improvements in all business units, particularly the soft drinks division.
Its revenue surged 44.6 per cent to RM1.81 billion for the six months ended 31 March 2008 from RM1.25 billion for the previous corresponding period, the leading food and beverage manufacturer said in a filing to Bursa Malaysia on May 7.
The company reported that the higher revenue was achieved on the back of improved sales from all of its core businesses and contributions from the acquired Nestle business.
HYUNDAI MOTOR AUTO SALES IN JAPAN PLUNGE IN APRIL
Seoul (ANTARA News/Asia Pulse) - The Hyundai Motor Co. (KSE:05380) reported a sharp plunge in its vehicle sales in Japan last month, highlighting a challenge the South Korean carmaker is facing in Asia's second-largest auto market, industry figures showed today.
Last month, Hyundai Motor sold only 22 cars in Japan, compared with 95 sold for the same month last year, according to the data by the Japan Automobile Importers Association.
In the first four months of this year, Hyundai Motor's sales in Japan nosedived 48 per cent from a year earlier to 170 units, the data showed.
TOSHIBA TO FORM INDIAN JOINT VENTURE FOR TURBINES, GENERATORS
Tokyo (ANTARA News/Asia Pulse) - Toshiba Corp. (TSE:6502) announced this week that in June this year it will set up a joint venture with Indian business giant JSW Group to manufacture and market steam turbines and generators for fossil-fuel-fired power plants in India.
Through this effort, Toshiba will pave the way toward a full-fledged entry into India's market for power plant equipment and facilities. The company will be capitalized at US$50 million, or around 5.2 billion yen, with Toshiba taking a 75 per cent interest.
JSW Group members JSW Energy Ltd. and JSW Steel Ltd are set to take respective stakes of 20 per cent and 5 per cent.
DOOSAN TO TAKE OVER SOUTH KOREA'S CHUNG-ANG UNIVERSITY
Seoul (ANTARA News/Asia Pulse) - Doosan Group ((KSE:000150), one of South Korea's family-run industrial conglomerates, has signed a memorandum of understanding to acquire a major private university in southern Seoul, according to the two sides on Thursday.
The financial terms of the deal weren't immediately known, but local media reports said Doosan may spend 120 billion won (US$115 million) to take over the century-old Chung-Ang University, which has some 25,000 students.
The deal is subject to approval by the country's education regulator, the Ministry of Education, Science and Technology.
VIRGIN BLUE PILOTS TO TRAIN IN BRISBANE WITH US$9 MLN SIMULATOR
Brisbane (ANTARA News/Asia Pulse) - Virgin Blue (ASX:VBA) pilots no longer have to travel to Switzerland for their training thanks to Brisbane's new A$10 million (US$9.41 million) flight simulator.
The Embraer electric motion simulator is the first of its kind in Australia, providing training for pilots of Virgin Blue's new Embraer jets, which fly between Sydney and Canberra and service regional centres such as Albury and Port Macquarie. Five of the aircraft are currently in service, with a further 13 to be added by the end of the year.
US-BASED ALCOME PERFUMES TO ENTER INDIA'S RETAIL MARKET
New Delhi (ANTARA News/Asia Pulse) - US-based Alcome Perfumes and Cosmetics, which has its global bottling operations in India, on Wednesday announced its foray into the country's retail market and has engaged Bollywood actress Bipasa Basu to be the face of its perfume brands.
The Indian subsidiary of the company, Alcome Perfumes and Cosmetics PLC, has two manufacturing units at Noida and Bhiwadi and a new unit is coming up in Noida SEZ with an investment of Rs 1 billion (US$24 million), to be operational by year-end.
DAVID JONES REPORTS SMALL RISE IN 3Q SALES
Sydney (ANTARA News/Asia Pulse) - Australian retailer David Jones Ltd (ASX:DJS) has reported a small increase in third quarter sales as a slowdown in consumer spending began to bite.
But the department store operator reaffirmed its guidance for second half underlying net profit to grow by between eight per cent and 13 per cent.
Sales revenue for the three months ended April 26 rose 3.8 per cent to $A453.3 million ($US426.69 million) from the same quarter in fiscal 2007, while like-for-like store sales grew by 2.3 per cent.
Chief executive Mark McInnes said the third quarter sales figures reflected a slowdown in consumer spending, which had been anticipated.
HONDA TO EXPAND DEALERSHIP NETWORK, CAPACITY IN CHINA
Tokyo (ANTARA News/Asia Pulse) - Honda Motor Co. (TSE:7267) will go on the offensive in China, increasing dealerships there to 700 by year-end and boosting annual output capacity by about 20 per cent to 650,000.
Honda currently has three different dealership networks in China that operate a total of 560 locations.
Guangzhou Honda Automobile Co. will expand its sites by 24 per cent to 450. Dongfeng Honda Automobile Co. will have 230, up 21 per cent. Honda manufactures autos at the two subsidiaries, whose capacity totals 530,000 vehicles a year.
It expects to sell roughly 490,000 units in China alone in 2008, up 15 per cent from 2007.
Source:
Business in Asia Today - MAY 09, 2008
published by Asia Pulse
COPYRIGHT © 2008
Beijing (ANTARA News/Asia Pulse) - China's securities regulator China Securities Regulatory Commission (CSRC) said Wednesday that it has put the Hongda case on file for investigation, a move believed to check irregular share selling on the Shanghai and Shenzhen bourses and in turn to assist in rallying sharp share price falls.
The case relates to the irregular sale of shares of Sichuan Hongda Co., Ltd. (600331:SSX) by two institutional shareholders
Sichuan Pingyuan Industry Development Co., Ltd. and Mianyang Yiduoyuan Real Estate Development Co., Ltd. on April 29.
The two shareholders respectively sold off shares representing 1.46 per cent and 1.35 per cent of Hongda's total share capital on the secondary market on the day.
These shares, originally non-tradable and newly freed from the lock-up period after completion of Hongda's split share structure reform, should be traded via the separate block trading system of the Shanghai bourse, according to CSRC's new regulation.
INDIA'S ANSAL PROPERTIES AND DUBAI FIRM TERMINATE AGREEMENT
Mumbai (ANTARA News/Asia Pulse) - Indian company Ansal Properties & Infrastructure Ltd (BSE:500013) has said its agreement with Dubai-based Deeyar Development PSC for a township project has been terminated.
Ansal Properties & Infrastructure informed the Bombay Stock Exchange that the transaction could not be given effect and necessary termination agreement for the same has been entered into on May 6.
In May last year, the company announced that it had signed a memorandum of understanding with the Dubai firm for developing a mega mixed use township comprising of residential, commercial, institutional and industrial properties in the country.
MALAYSIA'S FRASER & NEAVE REGISTERS 23.6 PCT JUMP IN H1 PROFIT
Kuala Lumpur (ANTARA News/Asia Pulse) - Fraser & Neave Holdings Bhd (F&N) (KLSE:3689) has registered a 23.6 per cent year-on-year jump in interim pre-tax profit to RM132.161 million (US$41.3 million), driven by volume and selling price improvements in all business units, particularly the soft drinks division.
Its revenue surged 44.6 per cent to RM1.81 billion for the six months ended 31 March 2008 from RM1.25 billion for the previous corresponding period, the leading food and beverage manufacturer said in a filing to Bursa Malaysia on May 7.
The company reported that the higher revenue was achieved on the back of improved sales from all of its core businesses and contributions from the acquired Nestle business.
HYUNDAI MOTOR AUTO SALES IN JAPAN PLUNGE IN APRIL
Seoul (ANTARA News/Asia Pulse) - The Hyundai Motor Co. (KSE:05380) reported a sharp plunge in its vehicle sales in Japan last month, highlighting a challenge the South Korean carmaker is facing in Asia's second-largest auto market, industry figures showed today.
Last month, Hyundai Motor sold only 22 cars in Japan, compared with 95 sold for the same month last year, according to the data by the Japan Automobile Importers Association.
In the first four months of this year, Hyundai Motor's sales in Japan nosedived 48 per cent from a year earlier to 170 units, the data showed.
TOSHIBA TO FORM INDIAN JOINT VENTURE FOR TURBINES, GENERATORS
Tokyo (ANTARA News/Asia Pulse) - Toshiba Corp. (TSE:6502) announced this week that in June this year it will set up a joint venture with Indian business giant JSW Group to manufacture and market steam turbines and generators for fossil-fuel-fired power plants in India.
Through this effort, Toshiba will pave the way toward a full-fledged entry into India's market for power plant equipment and facilities. The company will be capitalized at US$50 million, or around 5.2 billion yen, with Toshiba taking a 75 per cent interest.
JSW Group members JSW Energy Ltd. and JSW Steel Ltd are set to take respective stakes of 20 per cent and 5 per cent.
DOOSAN TO TAKE OVER SOUTH KOREA'S CHUNG-ANG UNIVERSITY
Seoul (ANTARA News/Asia Pulse) - Doosan Group ((KSE:000150), one of South Korea's family-run industrial conglomerates, has signed a memorandum of understanding to acquire a major private university in southern Seoul, according to the two sides on Thursday.
The financial terms of the deal weren't immediately known, but local media reports said Doosan may spend 120 billion won (US$115 million) to take over the century-old Chung-Ang University, which has some 25,000 students.
The deal is subject to approval by the country's education regulator, the Ministry of Education, Science and Technology.
VIRGIN BLUE PILOTS TO TRAIN IN BRISBANE WITH US$9 MLN SIMULATOR
Brisbane (ANTARA News/Asia Pulse) - Virgin Blue (ASX:VBA) pilots no longer have to travel to Switzerland for their training thanks to Brisbane's new A$10 million (US$9.41 million) flight simulator.
The Embraer electric motion simulator is the first of its kind in Australia, providing training for pilots of Virgin Blue's new Embraer jets, which fly between Sydney and Canberra and service regional centres such as Albury and Port Macquarie. Five of the aircraft are currently in service, with a further 13 to be added by the end of the year.
US-BASED ALCOME PERFUMES TO ENTER INDIA'S RETAIL MARKET
New Delhi (ANTARA News/Asia Pulse) - US-based Alcome Perfumes and Cosmetics, which has its global bottling operations in India, on Wednesday announced its foray into the country's retail market and has engaged Bollywood actress Bipasa Basu to be the face of its perfume brands.
The Indian subsidiary of the company, Alcome Perfumes and Cosmetics PLC, has two manufacturing units at Noida and Bhiwadi and a new unit is coming up in Noida SEZ with an investment of Rs 1 billion (US$24 million), to be operational by year-end.
DAVID JONES REPORTS SMALL RISE IN 3Q SALES
Sydney (ANTARA News/Asia Pulse) - Australian retailer David Jones Ltd (ASX:DJS) has reported a small increase in third quarter sales as a slowdown in consumer spending began to bite.
But the department store operator reaffirmed its guidance for second half underlying net profit to grow by between eight per cent and 13 per cent.
Sales revenue for the three months ended April 26 rose 3.8 per cent to $A453.3 million ($US426.69 million) from the same quarter in fiscal 2007, while like-for-like store sales grew by 2.3 per cent.
Chief executive Mark McInnes said the third quarter sales figures reflected a slowdown in consumer spending, which had been anticipated.
HONDA TO EXPAND DEALERSHIP NETWORK, CAPACITY IN CHINA
Tokyo (ANTARA News/Asia Pulse) - Honda Motor Co. (TSE:7267) will go on the offensive in China, increasing dealerships there to 700 by year-end and boosting annual output capacity by about 20 per cent to 650,000.
Honda currently has three different dealership networks in China that operate a total of 560 locations.
Guangzhou Honda Automobile Co. will expand its sites by 24 per cent to 450. Dongfeng Honda Automobile Co. will have 230, up 21 per cent. Honda manufactures autos at the two subsidiaries, whose capacity totals 530,000 vehicles a year.
It expects to sell roughly 490,000 units in China alone in 2008, up 15 per cent from 2007.
Source:
Business in Asia Today - MAY 09, 2008
published by Asia Pulse
COPYRIGHT © 2008
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