SINGTEL FORECASTS DOUBLE-DIGIT EARNINGS IN MEDIUM TERM
Sydney (ANTARA News/Asia Pulse) - Singapore Telecommunications Ltd (SingTel) (SGX:T48, ASX:SGT), the owner of Australian telco Optus, is forecasting double-digit underlying earnings growth in the medium term after posting a 4.8 per cent lift in full year net profit.
SingTel said its full year NPAT result had been boosted by the stronger Australian dollar and strong growth in the Singapore business.
But SingTel said uncertainties in the financial markets and inflationary pressures had contributed to a more cautious outlook for Singapore and Australia in fiscal 2009.
KIKKOMAN EYES JAPANESE-FOOD WHOLESALING IN EMERGING MARKETS
Tokyo (ANTARA News/Asia Pulse) - Kikkoman Corp. (TSE:2801) will branch into emerging economies in its business of wholesaling Japanese food, forming sales and distribution sites in Southeast Asia, the Middle East and South America.
The move is intended to coincide with the company's plans to launch soy sauce production and sales in these markets and is aimed at generating synergies from cultivating demand for both Kikkoman condiments and Japanese foods in general.
At least one sales and distribution base will open in each of the three regions of Southeast Asia, Middle East and South America by fiscal 2020.
TOYOTA TO RAISE OUTPUT CAPACITY AT CHINESE JOINT VENTURE
Shanghai (ANTARA News/Asia Pulse) - Toyota Motor Corp. (TSE:7203) said Tuesday that it will increase capacity 50 per cent by the end of 2009 at one of three plants operated by a Tianjin joint venture with China FAW Group Corp.
The 1.5 billion yuan (US$214.6 million) expansion at Tianjin FAW Toyota Motor Co. will lift annual production at the No. 2 plant to 150,000 cars and add 1,500 jobs at the venture.
Toyota plans to eventually upgrade the venture's development division to an R&D center.
AUSTRALIAN COURT OKAYS HEALTH INSURER BUPA'S TAKEOVER OF MBF
Sydney (ANTARA News/Asia Pulse) - Health insurer MBF Australia Ltd and BUPA Australia Health Pty Ltd have received the green light from the Federal Court of Australia to combine their businesses.
On Monday, MBFpolicyholders voted in favour of the A$2.4 billion (US$2.255 billion) friendly takeover by BUPA Australia, the domestic arm of the British owned BUPA Group.
MBF chairman John Conde said the Federal Court's approval of the scheme represented another significant step in the process leading to implementation.
MALAYSIA'S QUILL BUYS TESCO BUILDING IN PENANG FOR US$41.3 MLN
Kuala Lumpur (ANTARA News/Asia Pulse) - Quill Capita Trust (QCT) (KLSE:5123), a commercial real estate investment trust (REIT), today signed an agrement to acquire a building in Penang for RM132 million (US$41.3 million).
Quill is buying the building, which is fully leased to hypermarket operator Tesco Stores (Malaysia) Sdn Bhd, from IJM Properties Sdn Bhd.
The Tesco building is located in the district of Jelutong which is undergoing significant urban redevelopment.
Quill expects to finance the purchase through a combination of internally generated funds and debts.
SAMSUNG, LG TO DEVELOP JOINT STANDARD FOR N. AMERICAN MOBILE TV MARKET
Seoul (ANTARA News/Asia Pulse) - Samsung Electronics Co. (KSE:005930) and LG Electronics Co. (KSE:066570), South Korea's world-class electronics manufacturers, said today they agreed to jointly develop a mobile television technology aimed at becoming the industry standard in the North American market.
Executives from the two companies signed a deal for the joint standard at a hotel in Seoul, the companies said, adding that they plan to forward their proposal to the Advanced Television Systems Committee (ATSC).
The joint effort is expected to combine LG's technology, dubbed the Mobile Pedestrian Handheld (MPH), and Samsung's A-VSB, also known as advanced-vestigial sideband, according to the companies.
HONDA BIKE SALES FORECAST TO SURGE 40% IN INDONESIAN MARKET
Jakarta (ANTARA News/Asia Pulse) - Sales of Honda motorcycles in Indonesia are forecast to shoot up 40 per cent to 1.2 million units in the first half of this year from 921,990 units in the same period last year.
Until April this year, sales already reached 897,037 units or 50.8 per cent higher year-on-year, said Siswanto Prawiroatmodjo, Executive Vice President of PT Astra Honda Motor, which produces the Japanese product in the country.
Sales are expected to continue to climb despite rising inflation, Mr Siswanto said, adding that since the rise in inflation therefore, it will not affect sales.
TAIWAN GOVT HAS DONE ITS BEST TO HELP STRICKEN AIRLINE: MOTC
Taipei (ANTARA News/Asia Pulse) - The government has done everything appropriate and necessary to help the debt-ridden Far Eastern Air Transport (FAT) (TAIEX:5605) stay afloat, senior transportation officials said amid criticism that they had mismanaged the crisis which led to Taiwan's oldest private carrier shutting down Tuesday.
"We have introduced many potential investors to take over the company which filed for bankruptcy protection," said Yu Fang-lai, deputy minister of the Ministry of Transportation and Communication (MOTC).
Efforts to rescue the airline failed as the airline announced Monday that it would suspend all its operations effective Tuesday.
INDONESIA'S ANTAM, INDIA'S JINDAL TO BUILD NICKEL, STEEL SMELTER
Jakarta (ANTARA News/Asia Pulse) - Indonesian mining company PT Antam Tbk (JSX:ANTM) and India's Jindal Stainless Limited (BSE:532508) have agreed to build a nickel and stainless steel smelter in the Republic's Southeast Sulawesi province.
"In its initial phase of operations the smelter will have an annual production capacity of 20,000 tons of nickel and 250,000 tons of steel, mostly high-quality stainless steel of the series 300," Antam President Director Dedi Adytia said on Tuesday. He said the smelter would be 55 per cent owned by Antam and 45 per cent by Jindal.
AUSTRALIA'S CSR BOOKS 35 PCT DROP IN YEAR NET PROFIT
Sydney (ANTARA News/Asia Pulse) - Australian building products and sugar producer CSR Ltd (ASX:CSR) has delivered a 35 per cent fall in net profit for the 2008 year, and says it could be 18 months before the full benefits are seen from internal improvements in the company.
CSR posted net profit after significant items of $A177.4 million ($US166.9 million), against A$273.3 million in 2007. Before significant items, net profit was A$192.8 million, down 20 per cent from A$240.5 million in 2007.
Managing director Jerry Maycock said external factors had weighed heavily on the CSR's sugar milling result, which impacted overall earnings, but he said he was pleased with the company's progress.
Source:
Business in Asia Today - MAY 14, 2008
published by Asia Pulse
COPYRIGHT © 2008
Sydney (ANTARA News/Asia Pulse) - Singapore Telecommunications Ltd (SingTel) (SGX:T48, ASX:SGT), the owner of Australian telco Optus, is forecasting double-digit underlying earnings growth in the medium term after posting a 4.8 per cent lift in full year net profit.
SingTel said its full year NPAT result had been boosted by the stronger Australian dollar and strong growth in the Singapore business.
But SingTel said uncertainties in the financial markets and inflationary pressures had contributed to a more cautious outlook for Singapore and Australia in fiscal 2009.
KIKKOMAN EYES JAPANESE-FOOD WHOLESALING IN EMERGING MARKETS
Tokyo (ANTARA News/Asia Pulse) - Kikkoman Corp. (TSE:2801) will branch into emerging economies in its business of wholesaling Japanese food, forming sales and distribution sites in Southeast Asia, the Middle East and South America.
The move is intended to coincide with the company's plans to launch soy sauce production and sales in these markets and is aimed at generating synergies from cultivating demand for both Kikkoman condiments and Japanese foods in general.
At least one sales and distribution base will open in each of the three regions of Southeast Asia, Middle East and South America by fiscal 2020.
TOYOTA TO RAISE OUTPUT CAPACITY AT CHINESE JOINT VENTURE
Shanghai (ANTARA News/Asia Pulse) - Toyota Motor Corp. (TSE:7203) said Tuesday that it will increase capacity 50 per cent by the end of 2009 at one of three plants operated by a Tianjin joint venture with China FAW Group Corp.
The 1.5 billion yuan (US$214.6 million) expansion at Tianjin FAW Toyota Motor Co. will lift annual production at the No. 2 plant to 150,000 cars and add 1,500 jobs at the venture.
Toyota plans to eventually upgrade the venture's development division to an R&D center.
AUSTRALIAN COURT OKAYS HEALTH INSURER BUPA'S TAKEOVER OF MBF
Sydney (ANTARA News/Asia Pulse) - Health insurer MBF Australia Ltd and BUPA Australia Health Pty Ltd have received the green light from the Federal Court of Australia to combine their businesses.
On Monday, MBFpolicyholders voted in favour of the A$2.4 billion (US$2.255 billion) friendly takeover by BUPA Australia, the domestic arm of the British owned BUPA Group.
MBF chairman John Conde said the Federal Court's approval of the scheme represented another significant step in the process leading to implementation.
MALAYSIA'S QUILL BUYS TESCO BUILDING IN PENANG FOR US$41.3 MLN
Kuala Lumpur (ANTARA News/Asia Pulse) - Quill Capita Trust (QCT) (KLSE:5123), a commercial real estate investment trust (REIT), today signed an agrement to acquire a building in Penang for RM132 million (US$41.3 million).
Quill is buying the building, which is fully leased to hypermarket operator Tesco Stores (Malaysia) Sdn Bhd, from IJM Properties Sdn Bhd.
The Tesco building is located in the district of Jelutong which is undergoing significant urban redevelopment.
Quill expects to finance the purchase through a combination of internally generated funds and debts.
SAMSUNG, LG TO DEVELOP JOINT STANDARD FOR N. AMERICAN MOBILE TV MARKET
Seoul (ANTARA News/Asia Pulse) - Samsung Electronics Co. (KSE:005930) and LG Electronics Co. (KSE:066570), South Korea's world-class electronics manufacturers, said today they agreed to jointly develop a mobile television technology aimed at becoming the industry standard in the North American market.
Executives from the two companies signed a deal for the joint standard at a hotel in Seoul, the companies said, adding that they plan to forward their proposal to the Advanced Television Systems Committee (ATSC).
The joint effort is expected to combine LG's technology, dubbed the Mobile Pedestrian Handheld (MPH), and Samsung's A-VSB, also known as advanced-vestigial sideband, according to the companies.
HONDA BIKE SALES FORECAST TO SURGE 40% IN INDONESIAN MARKET
Jakarta (ANTARA News/Asia Pulse) - Sales of Honda motorcycles in Indonesia are forecast to shoot up 40 per cent to 1.2 million units in the first half of this year from 921,990 units in the same period last year.
Until April this year, sales already reached 897,037 units or 50.8 per cent higher year-on-year, said Siswanto Prawiroatmodjo, Executive Vice President of PT Astra Honda Motor, which produces the Japanese product in the country.
Sales are expected to continue to climb despite rising inflation, Mr Siswanto said, adding that since the rise in inflation therefore, it will not affect sales.
TAIWAN GOVT HAS DONE ITS BEST TO HELP STRICKEN AIRLINE: MOTC
Taipei (ANTARA News/Asia Pulse) - The government has done everything appropriate and necessary to help the debt-ridden Far Eastern Air Transport (FAT) (TAIEX:5605) stay afloat, senior transportation officials said amid criticism that they had mismanaged the crisis which led to Taiwan's oldest private carrier shutting down Tuesday.
"We have introduced many potential investors to take over the company which filed for bankruptcy protection," said Yu Fang-lai, deputy minister of the Ministry of Transportation and Communication (MOTC).
Efforts to rescue the airline failed as the airline announced Monday that it would suspend all its operations effective Tuesday.
INDONESIA'S ANTAM, INDIA'S JINDAL TO BUILD NICKEL, STEEL SMELTER
Jakarta (ANTARA News/Asia Pulse) - Indonesian mining company PT Antam Tbk (JSX:ANTM) and India's Jindal Stainless Limited (BSE:532508) have agreed to build a nickel and stainless steel smelter in the Republic's Southeast Sulawesi province.
"In its initial phase of operations the smelter will have an annual production capacity of 20,000 tons of nickel and 250,000 tons of steel, mostly high-quality stainless steel of the series 300," Antam President Director Dedi Adytia said on Tuesday. He said the smelter would be 55 per cent owned by Antam and 45 per cent by Jindal.
AUSTRALIA'S CSR BOOKS 35 PCT DROP IN YEAR NET PROFIT
Sydney (ANTARA News/Asia Pulse) - Australian building products and sugar producer CSR Ltd (ASX:CSR) has delivered a 35 per cent fall in net profit for the 2008 year, and says it could be 18 months before the full benefits are seen from internal improvements in the company.
CSR posted net profit after significant items of $A177.4 million ($US166.9 million), against A$273.3 million in 2007. Before significant items, net profit was A$192.8 million, down 20 per cent from A$240.5 million in 2007.
Managing director Jerry Maycock said external factors had weighed heavily on the CSR's sugar milling result, which impacted overall earnings, but he said he was pleased with the company's progress.
Source:
Business in Asia Today - MAY 14, 2008
published by Asia Pulse
COPYRIGHT © 2008
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