CHINA UNVEILS LOCAL JUMBO JET COMPANY
Shanghai (ANTARA News/Asia Pulse) - China unveiled its own jumbo jet company in Shanghai on Sunday, marking a crucial stage for the country's research and development of large passenger planes.
The new company, the China Commercial Aircraft Co., would have registered capital of 19 billion yuan (about US$2.7 billion),
with the central government and the Shanghai government among the major shareholders, sources told Xinhua.
Shareholders would also include the China Aviation Industry Corporation I (AVIC I), the country's largest aircraft producer, and the China Aviation Industry Corporation II (AVIC II).
The State Council, China's Cabinet, approved the setting up of the large-passenger plane company in February 2007.
AIRLINES PNG PLANS PUBLIC OFFERING TO BUY FOUR NEW AIRCRAFT
Port Moresby, PNG (ANTARA News/Asia Pulse) - Airlines PNG is raising K105 million (US$39 million) through a public offering to acquire new aircraft that would include a Twin Otter, two Dash 8s and a Boeing 737, reports The National.
The company expects to list on the Port Moresby Stock Exchange next month to raise the money, which it hopes to increase its fleet to 18 fixed-wing aircraft.
Part of the proceeds would be used to settle debts and to plough into its working capital.
Nasfund said in its recent newsletter that Airlines PNG, which had national and international routes, would list on the local bourse on 23 June.
Nasfund, the country's number one superfund, is looking to acquire 10 per cent of the shares being offered to the public, the super fund said.
YAMATO LOGISTICS TO TAP SOUTH KOREA'S LOGISTICS MARKET
Seoul (ANTARA News/Asia Pulse) - The Yamato Logistics Co., Japan's largest logistics company, plans to spend 100 billion won (US$95.7 million) over the next five years to advance into South Korea's logistics market, an industry source said Sunday. Yamato Logistics will set up a joint venture with the the Dongbu Express Co., a local logistics firm, and hold a 20 per cent stake to participate in management, the source said.
The two companies were slated to sign a formal contract to establish the joint venture next month, he added.
The Japanese logistics firm's entry into the local market was likely to pose a threat to the top four local logistics companies - Korea Express Co., Hanjin Express Co., CJ-GLS Co. and Hyundai Logistics Co., the source said.
VIETNAM TO INVEST US$227 MLN IN SOLID WASTE TREATMENT
Hanoi (ANTARA News/Asia Pulse) - Vietnam will invest around US$227 million in building two solid waste treatment plants for eight northern cities and provinces, the Ministry of Construction said.
The investment is part of a waste treatment plan for the northern key economic region between now and 2020. One plant will be built on 140-160ha in Hanoi's outlying Soc Son district to process the capital city's waste and service Vinh Phuc, Ha Tay, Bac Ninh and Hung Yen provinces.
The other area, designed to cover 100ha, will be constructed in Quang Ninh province for the city of Hai Phong and the provinces of Quang Ninh and Hai Duong.
INDONESIA'S BHAKTI GROUP TO EXPAND MEDIA FOOTPRINT
Jakarta (ANTARA News/Asia Pulse) - Indonesia's widely diversified Bhakti Group said it will invest at least US$180 million this year to expand business in the mass media and telecommunications sector.
Hary Djaja, president of holding company PT Bhakti Investama said mass media subsidiary PT Media Nusantara Citra plans to invest US$10 million and telecommunication subsidiary PT Mobile-8 will invest up to US$170 million.
Mr Djaja said the holding company would focus more on business in the financial sector through Bhakti Finance, providing financing service for the purchase of housing and motorcycles.
PAN-AUSTRALIAN RESOURCES OPENS $US241 MLN LAOS MINE
Perth (ANTARA News/Asia Pulse) - Pan Australian Resources Ltd (ASX:PNA) has officially opened its $US241 million ($A257.03 million) Phu Kham copper-gold mine in Laos.
Commissioning was completed several months ahead of the company's mid-2008 target date, and within budget, enabling it to move quickly to take advantage of record copper prices.
Managing director Gary Stafford said the Lao government had exercised its right to acquire a 10 per cent interest in Pan Australian's subsidiary Phu Bia Mining Ltd, which operates Phu Kham.
Concentrate production commenced in April and the company anticipates its first sale by the end of May.
INDONESIA'S TIMAH TO ACQUIRE TIN MINES IN MYANMAR, VIETNAM
Jakarta (ANTARA News/Asia Pulse) - Indonesia's state-owned tin mining company PT Timah has said it will set aside Rp4 trillion (US$436 million) to acquire tin mines in Myanmar and Vietnam this year.
Corporate secretary Abrun Abubakar said a research team of the company was finalizing a study on the value of the mines to be acquired.
The world's largest tin-producing company would use a standby loan from banks and an additional loan would be sought depending on the result of the study, Mr Abubakar said.
Three banks had already offered loans to finance the acquisition, he added.
The company exports 97 per cent of its tin production.
VIETNAM, MOROCCO SIGN $US600 MLN FERTILISER PLANT DEAL
Hanoi (ANTARA News/Asia Pulse) - The PetroVietnam Fertilizer and Chemical Joint Stock Company (PVFCCo) and the Office Cherifien des Phosphates (OCP) of Morocco have signed an agreement to build a fertiliser plant valued at $US600 million in the African country.
The plant would be capable of producing from 660,000 to one million tonnes of diamonium phosphate (DAP) fertiliser to supply to Vietnam and other regional markets, sources from the Vietnam National Oil and Gas Group (PetroVietnam) said on May 10.
The DAP plant, which will be built soon, is due to begin operations by 2011, becoming Vietnam's largest project abroad so far.
AUSTRALIA'S WESTPAC HOLDS TALKS WITH ST GEORGE ON ALL-SCRIP MERGER
Sydney (ANTARA News/Asia Pulse) - The Westpac Banking Corporation (ASX:WBC) is in talks with St George Bank Ltd (ASX:SGB) about an all-scrip merger of the pair to create the nation's largest wealth platform provider.
A combined Westpac and St George would result in a $A64 billion ($US60.14 billion) entity, bigger than either of Commonwealth Bank of Australia Ltd or National Australia Bank Ltd. Westpac, Australia's third-largest bank, said it had approached St George, the number five bank, on Friday.
"It would create Australia's leading financial institution with regard to meeting customer needs, distribution, strong brands, scale, financial strength and the best products," Westpac chief executive Gail Kelly said.
Mrs Kelly recently became head of Westpac after leaving the chief executive position at St George.
MALAYSIA'S FITTERS WINS CONTRACT TO BUILD KL SHOPPING MALL
Kuala Lumpur (ANTARA News/Asia Pulse) - Fitters Diversified Berhad (KLSE:9318) said it has won a RM134 million (US$41.9 million) contract to design and build a shopping mall in Setapak in Kuala Lumpur.
Its wholly-owned subsidiary, Fitters Engineering Services Sdn Bhd, won the contract from Spring Active Sdn Bhd to build the mall at Jalan Genting Klang, Fitters said in a statement to Bursa Malaysia on May 9.
The contract period is 18 months upon the commencement of construction of the proposed mall.
The contract is expected to contribute positively to the earnings and net assets of Fitters Group for the financial years ending 31 December 2008 and onwards.
Source:
Business in Asia Today - MAY 12, 2008
published by Asia Pulse
COPYRIGHT © 2008
Shanghai (ANTARA News/Asia Pulse) - China unveiled its own jumbo jet company in Shanghai on Sunday, marking a crucial stage for the country's research and development of large passenger planes.
The new company, the China Commercial Aircraft Co., would have registered capital of 19 billion yuan (about US$2.7 billion),
with the central government and the Shanghai government among the major shareholders, sources told Xinhua.
Shareholders would also include the China Aviation Industry Corporation I (AVIC I), the country's largest aircraft producer, and the China Aviation Industry Corporation II (AVIC II).
The State Council, China's Cabinet, approved the setting up of the large-passenger plane company in February 2007.
AIRLINES PNG PLANS PUBLIC OFFERING TO BUY FOUR NEW AIRCRAFT
Port Moresby, PNG (ANTARA News/Asia Pulse) - Airlines PNG is raising K105 million (US$39 million) through a public offering to acquire new aircraft that would include a Twin Otter, two Dash 8s and a Boeing 737, reports The National.
The company expects to list on the Port Moresby Stock Exchange next month to raise the money, which it hopes to increase its fleet to 18 fixed-wing aircraft.
Part of the proceeds would be used to settle debts and to plough into its working capital.
Nasfund said in its recent newsletter that Airlines PNG, which had national and international routes, would list on the local bourse on 23 June.
Nasfund, the country's number one superfund, is looking to acquire 10 per cent of the shares being offered to the public, the super fund said.
YAMATO LOGISTICS TO TAP SOUTH KOREA'S LOGISTICS MARKET
Seoul (ANTARA News/Asia Pulse) - The Yamato Logistics Co., Japan's largest logistics company, plans to spend 100 billion won (US$95.7 million) over the next five years to advance into South Korea's logistics market, an industry source said Sunday. Yamato Logistics will set up a joint venture with the the Dongbu Express Co., a local logistics firm, and hold a 20 per cent stake to participate in management, the source said.
The two companies were slated to sign a formal contract to establish the joint venture next month, he added.
The Japanese logistics firm's entry into the local market was likely to pose a threat to the top four local logistics companies - Korea Express Co., Hanjin Express Co., CJ-GLS Co. and Hyundai Logistics Co., the source said.
VIETNAM TO INVEST US$227 MLN IN SOLID WASTE TREATMENT
Hanoi (ANTARA News/Asia Pulse) - Vietnam will invest around US$227 million in building two solid waste treatment plants for eight northern cities and provinces, the Ministry of Construction said.
The investment is part of a waste treatment plan for the northern key economic region between now and 2020. One plant will be built on 140-160ha in Hanoi's outlying Soc Son district to process the capital city's waste and service Vinh Phuc, Ha Tay, Bac Ninh and Hung Yen provinces.
The other area, designed to cover 100ha, will be constructed in Quang Ninh province for the city of Hai Phong and the provinces of Quang Ninh and Hai Duong.
INDONESIA'S BHAKTI GROUP TO EXPAND MEDIA FOOTPRINT
Jakarta (ANTARA News/Asia Pulse) - Indonesia's widely diversified Bhakti Group said it will invest at least US$180 million this year to expand business in the mass media and telecommunications sector.
Hary Djaja, president of holding company PT Bhakti Investama said mass media subsidiary PT Media Nusantara Citra plans to invest US$10 million and telecommunication subsidiary PT Mobile-8 will invest up to US$170 million.
Mr Djaja said the holding company would focus more on business in the financial sector through Bhakti Finance, providing financing service for the purchase of housing and motorcycles.
PAN-AUSTRALIAN RESOURCES OPENS $US241 MLN LAOS MINE
Perth (ANTARA News/Asia Pulse) - Pan Australian Resources Ltd (ASX:PNA) has officially opened its $US241 million ($A257.03 million) Phu Kham copper-gold mine in Laos.
Commissioning was completed several months ahead of the company's mid-2008 target date, and within budget, enabling it to move quickly to take advantage of record copper prices.
Managing director Gary Stafford said the Lao government had exercised its right to acquire a 10 per cent interest in Pan Australian's subsidiary Phu Bia Mining Ltd, which operates Phu Kham.
Concentrate production commenced in April and the company anticipates its first sale by the end of May.
INDONESIA'S TIMAH TO ACQUIRE TIN MINES IN MYANMAR, VIETNAM
Jakarta (ANTARA News/Asia Pulse) - Indonesia's state-owned tin mining company PT Timah has said it will set aside Rp4 trillion (US$436 million) to acquire tin mines in Myanmar and Vietnam this year.
Corporate secretary Abrun Abubakar said a research team of the company was finalizing a study on the value of the mines to be acquired.
The world's largest tin-producing company would use a standby loan from banks and an additional loan would be sought depending on the result of the study, Mr Abubakar said.
Three banks had already offered loans to finance the acquisition, he added.
The company exports 97 per cent of its tin production.
VIETNAM, MOROCCO SIGN $US600 MLN FERTILISER PLANT DEAL
Hanoi (ANTARA News/Asia Pulse) - The PetroVietnam Fertilizer and Chemical Joint Stock Company (PVFCCo) and the Office Cherifien des Phosphates (OCP) of Morocco have signed an agreement to build a fertiliser plant valued at $US600 million in the African country.
The plant would be capable of producing from 660,000 to one million tonnes of diamonium phosphate (DAP) fertiliser to supply to Vietnam and other regional markets, sources from the Vietnam National Oil and Gas Group (PetroVietnam) said on May 10.
The DAP plant, which will be built soon, is due to begin operations by 2011, becoming Vietnam's largest project abroad so far.
AUSTRALIA'S WESTPAC HOLDS TALKS WITH ST GEORGE ON ALL-SCRIP MERGER
Sydney (ANTARA News/Asia Pulse) - The Westpac Banking Corporation (ASX:WBC) is in talks with St George Bank Ltd (ASX:SGB) about an all-scrip merger of the pair to create the nation's largest wealth platform provider.
A combined Westpac and St George would result in a $A64 billion ($US60.14 billion) entity, bigger than either of Commonwealth Bank of Australia Ltd or National Australia Bank Ltd. Westpac, Australia's third-largest bank, said it had approached St George, the number five bank, on Friday.
"It would create Australia's leading financial institution with regard to meeting customer needs, distribution, strong brands, scale, financial strength and the best products," Westpac chief executive Gail Kelly said.
Mrs Kelly recently became head of Westpac after leaving the chief executive position at St George.
MALAYSIA'S FITTERS WINS CONTRACT TO BUILD KL SHOPPING MALL
Kuala Lumpur (ANTARA News/Asia Pulse) - Fitters Diversified Berhad (KLSE:9318) said it has won a RM134 million (US$41.9 million) contract to design and build a shopping mall in Setapak in Kuala Lumpur.
Its wholly-owned subsidiary, Fitters Engineering Services Sdn Bhd, won the contract from Spring Active Sdn Bhd to build the mall at Jalan Genting Klang, Fitters said in a statement to Bursa Malaysia on May 9.
The contract period is 18 months upon the commencement of construction of the proposed mall.
The contract is expected to contribute positively to the earnings and net assets of Fitters Group for the financial years ending 31 December 2008 and onwards.
Source:
Business in Asia Today - MAY 12, 2008
published by Asia Pulse
COPYRIGHT © 2008
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