JAPAN POST BANK TO INVEST AT LEAST US$9.6 BLN ABROAD IN FY08
Tokyo (ANTARA News/Asia Pulse) - Japan Post Bank, an arm of Japan Post Group, will step up its overseas investment, with the figure expected to come to at least 1 trillion yen (US$9.6 billion) this fiscal year, The Nikkei learned Monday.
Japan Post Bank plans on tapping foreign companies to manage a portion of the 180 trillion yen in assets it oversees. Major U.S. asset management firm BlackRock Inc. is believed to be among the candidates.
The bank is expected to invest in U.S. and European corporate bonds, including securitized products -- a departure from its practice of allocating nearly 90 per cent of its assets to government and other domestic bonds.
AUSTRALIA'S MACQUARIE GROUP BOOKS 23 PCT JUMP IN YR NET PROFIT
Sydney (ANTARA News/Asia Pulse) - Macquarie Group Ltd (ASX:MQG) has delivered a 23 per cent lift in annual profit but says it may be a challenge to repeat its performance this year due to volatile financial markets.
Macquarie made a net profit of A$1.803 billion (US$1.72 billion) for the year ended March 31, up from A$1.463 billion in the prior corresponding year.
Total assets under management increased by 18 per cent to A$232 billion. Total income for the year rose 15 per cent to A$8.2 billion.
DAEWOO MOTOR, PARAMOUNT TO OPEN THEME PARK BY 2011
Seoul (ANTARA News/Asia Pulse) - South Korean auto retailer Daewoo Motor Sales Corp. (KSE:04550) and Paramount Pictures Corp. of the United States said Tuesday they will open a US$1.5 billion movie amusement park in western South Korea, which they hope to attract possible visitors from nearby China.
Paramount Pictures, a unit of U.S. media giant Viacom Inc., will act as licensor and manager to help a joint venture led by Daewoo Motor Sales build the theme park by 2011 and run it, the two sides said in a joint statement.
The Hollywood film producer will not be a member of the joint venture.
TAIWAN IC INDUSTRY OUTPUT FOR 2008 PREDICTED TO TOP US$50.11 BLN
Taipei (ANTARA News/Asia Pulse) - The production value of Taiwan's integrated circuit (IC) industry will reach NT$1.53 trillion (US$50.11 billion) for 2008, up 4.4 per cent from the previous year's level, the Industrial Technology Research Institute (ITRI) forecast Monday.
It said the IC industry's output for the first quarter of this year was valued at NT$342.8 billion (US$11.23 billion), down 8.9 per cent from the fourth quarter of 2007 but up 0.4 per cent over the same period of last year.
The IC manufacturing sector performed the best, with the output value for the first quarter reaching NT$170.2 billion, representing increases of 7.6 per cent quarter-on-quarter and 7.7 per cent year-on-year.
CONSTRUCTION OF 5 STAR HOTEL BEGINS IN VIETNAM CENTRAL HIGHLANDS
Kon Tum (ANTARA News/Asia Pulse) - Construction of a five-star hotel at the Bo Y international border gate in Central Highlands Kon Tum province began on May 19.
The Global Investment Enterprise Corporation (GIEC) hotel is estimated to cost US$800 million and will feature 800 luxury rooms when it opens its doors in late 2011.
Local authorities say the project has attracted the largest investment in the province to date and they expect it will create a breakthrough in foreign investment attraction for the Central Highlands.
HYUNDAI HEAVY EXPECTS US$960 MLN IN SOLAR CELL SALES
Seoul (ANTARA News/Asia Pulse) - Hyundai Heavy Industries Co. (KSE:009540), the world's largest shipbuilder, said Tuesday that its sales of solar cells and solar modules will reach 1 trillion won (US$960 million) in 2010 on rising demand for alternative energy.
The shipbuilder has spent 34 billion won to build its first solar-cell producing plant in Eumseong, 108 kilometers south of Seoul, and plans to spend 300 billion won to build its second factory by 2010, according to the company.
The first solar-cell plant will produce solar cells capable of generating 30 megawatts of power annually, and is expected to post 100 billion won in sales this year, it said.
MINJIANG HYDROPOWER SUFFERS MOST FROM CHINA EARTHQUAKE
Beijing (ANTARA News/Asia Pulse) - Sichuan Minjiang Hydropower Co., Ltd. (SSX:600131), with four power stations in Wenchuan county, suffered the most in terms of personnel and finance from the May 12 earthquake, China Securities Journal reported. The company had confirmed four deaths by May 17 and lost contact with 130 persons. Meanwhile, its Caopo station and Shapai station, respectively, with installed capacity of 46,000 kw and 36,000 kw, were badly damaged and its Futangdi station also sustained damage.
The company's transformer stations were destroyed by the earthquake.
OIL AND GAS OUTPUT OF INDIA'S ONGC TO FALL BY 2012
New Delhi (ANTARA News/Asia Pulse) - Oil and Natural Gas Corp (ONGC) (BSE:500312) is likely to see oil and gas production from its largest fields in offshore Mumbai fall by 2012 as natural decline sets in in the 20-year-old fields.
Crude oil production from Mumbai High field is slated to dip to 10.362 million tons in 2011-12 from 12.108 million tons in 2007-08, a company official said.
Mumbai High, which contributed 45 per cent of ONGC's 25.94 million ton crude oil production in 2007-08, is likely to produce 12.354 million tons this year before decline sets in.
ONGC's total crude oil output this fiscal year will be higher at 27.054 million tons with the company bringing to production new and marginal fields.
It will rise to 29 million tons next fiscal year before dipping to 27.36 million tons in 2011-12.
KEPPEL PHILIPPINES MARINE BOOKS US$15.7 MLN IN REVENUE IN Q1
Manila (ANTARA News/Asia Pulse) - Keppel Philippines Marine, Inc, (KPMI) and its subsidiaries reported an increase in revenues after taking in P662 million (US$15.7 million) in the first quarter of 2009, as they attributed the 10 per cent rise to ship conversion contracts.
KMPI said they also received more high-value repair jobs in 2008 compared to the repair jobs from January to March last year. Operating profit jumped 20 per cent to P87.1 million compared with 2007, because of the higher realized revenues for the period.
MALAYSIAN LOW-COST CARRIER AIRASIA X TO LAUNCH JAPANESE SERVICE
Kuala Lumpur (ANTARA News/Asia Pulse) - Malaysian airline AirAsia X Sdn Bhd plans to begin flying to Japan next year, selecting Ibaraki, Fukuoka and Nagoya as possible destinations.
With these plans, the medium- to long-haul carrier is set to become the first Asian budget airline to enter the Japanese market.
Officials from AirAsia X are expected to visit Japan in July to meet with airports interested in its service.
These will include Ibaraki Airport, which is slated to open in March 2010 and whose own officials recently traveled to Malaysia to woo the low-cost carrier.
Source:
Business in Asia Today - MAY 20, 2008
published by Asia Pulse
COPYRIGHT © 2008
Tokyo (ANTARA News/Asia Pulse) - Japan Post Bank, an arm of Japan Post Group, will step up its overseas investment, with the figure expected to come to at least 1 trillion yen (US$9.6 billion) this fiscal year, The Nikkei learned Monday.
Japan Post Bank plans on tapping foreign companies to manage a portion of the 180 trillion yen in assets it oversees. Major U.S. asset management firm BlackRock Inc. is believed to be among the candidates.
The bank is expected to invest in U.S. and European corporate bonds, including securitized products -- a departure from its practice of allocating nearly 90 per cent of its assets to government and other domestic bonds.
AUSTRALIA'S MACQUARIE GROUP BOOKS 23 PCT JUMP IN YR NET PROFIT
Sydney (ANTARA News/Asia Pulse) - Macquarie Group Ltd (ASX:MQG) has delivered a 23 per cent lift in annual profit but says it may be a challenge to repeat its performance this year due to volatile financial markets.
Macquarie made a net profit of A$1.803 billion (US$1.72 billion) for the year ended March 31, up from A$1.463 billion in the prior corresponding year.
Total assets under management increased by 18 per cent to A$232 billion. Total income for the year rose 15 per cent to A$8.2 billion.
DAEWOO MOTOR, PARAMOUNT TO OPEN THEME PARK BY 2011
Seoul (ANTARA News/Asia Pulse) - South Korean auto retailer Daewoo Motor Sales Corp. (KSE:04550) and Paramount Pictures Corp. of the United States said Tuesday they will open a US$1.5 billion movie amusement park in western South Korea, which they hope to attract possible visitors from nearby China.
Paramount Pictures, a unit of U.S. media giant Viacom Inc., will act as licensor and manager to help a joint venture led by Daewoo Motor Sales build the theme park by 2011 and run it, the two sides said in a joint statement.
The Hollywood film producer will not be a member of the joint venture.
TAIWAN IC INDUSTRY OUTPUT FOR 2008 PREDICTED TO TOP US$50.11 BLN
Taipei (ANTARA News/Asia Pulse) - The production value of Taiwan's integrated circuit (IC) industry will reach NT$1.53 trillion (US$50.11 billion) for 2008, up 4.4 per cent from the previous year's level, the Industrial Technology Research Institute (ITRI) forecast Monday.
It said the IC industry's output for the first quarter of this year was valued at NT$342.8 billion (US$11.23 billion), down 8.9 per cent from the fourth quarter of 2007 but up 0.4 per cent over the same period of last year.
The IC manufacturing sector performed the best, with the output value for the first quarter reaching NT$170.2 billion, representing increases of 7.6 per cent quarter-on-quarter and 7.7 per cent year-on-year.
CONSTRUCTION OF 5 STAR HOTEL BEGINS IN VIETNAM CENTRAL HIGHLANDS
Kon Tum (ANTARA News/Asia Pulse) - Construction of a five-star hotel at the Bo Y international border gate in Central Highlands Kon Tum province began on May 19.
The Global Investment Enterprise Corporation (GIEC) hotel is estimated to cost US$800 million and will feature 800 luxury rooms when it opens its doors in late 2011.
Local authorities say the project has attracted the largest investment in the province to date and they expect it will create a breakthrough in foreign investment attraction for the Central Highlands.
HYUNDAI HEAVY EXPECTS US$960 MLN IN SOLAR CELL SALES
Seoul (ANTARA News/Asia Pulse) - Hyundai Heavy Industries Co. (KSE:009540), the world's largest shipbuilder, said Tuesday that its sales of solar cells and solar modules will reach 1 trillion won (US$960 million) in 2010 on rising demand for alternative energy.
The shipbuilder has spent 34 billion won to build its first solar-cell producing plant in Eumseong, 108 kilometers south of Seoul, and plans to spend 300 billion won to build its second factory by 2010, according to the company.
The first solar-cell plant will produce solar cells capable of generating 30 megawatts of power annually, and is expected to post 100 billion won in sales this year, it said.
MINJIANG HYDROPOWER SUFFERS MOST FROM CHINA EARTHQUAKE
Beijing (ANTARA News/Asia Pulse) - Sichuan Minjiang Hydropower Co., Ltd. (SSX:600131), with four power stations in Wenchuan county, suffered the most in terms of personnel and finance from the May 12 earthquake, China Securities Journal reported. The company had confirmed four deaths by May 17 and lost contact with 130 persons. Meanwhile, its Caopo station and Shapai station, respectively, with installed capacity of 46,000 kw and 36,000 kw, were badly damaged and its Futangdi station also sustained damage.
The company's transformer stations were destroyed by the earthquake.
OIL AND GAS OUTPUT OF INDIA'S ONGC TO FALL BY 2012
New Delhi (ANTARA News/Asia Pulse) - Oil and Natural Gas Corp (ONGC) (BSE:500312) is likely to see oil and gas production from its largest fields in offshore Mumbai fall by 2012 as natural decline sets in in the 20-year-old fields.
Crude oil production from Mumbai High field is slated to dip to 10.362 million tons in 2011-12 from 12.108 million tons in 2007-08, a company official said.
Mumbai High, which contributed 45 per cent of ONGC's 25.94 million ton crude oil production in 2007-08, is likely to produce 12.354 million tons this year before decline sets in.
ONGC's total crude oil output this fiscal year will be higher at 27.054 million tons with the company bringing to production new and marginal fields.
It will rise to 29 million tons next fiscal year before dipping to 27.36 million tons in 2011-12.
KEPPEL PHILIPPINES MARINE BOOKS US$15.7 MLN IN REVENUE IN Q1
Manila (ANTARA News/Asia Pulse) - Keppel Philippines Marine, Inc, (KPMI) and its subsidiaries reported an increase in revenues after taking in P662 million (US$15.7 million) in the first quarter of 2009, as they attributed the 10 per cent rise to ship conversion contracts.
KMPI said they also received more high-value repair jobs in 2008 compared to the repair jobs from January to March last year. Operating profit jumped 20 per cent to P87.1 million compared with 2007, because of the higher realized revenues for the period.
MALAYSIAN LOW-COST CARRIER AIRASIA X TO LAUNCH JAPANESE SERVICE
Kuala Lumpur (ANTARA News/Asia Pulse) - Malaysian airline AirAsia X Sdn Bhd plans to begin flying to Japan next year, selecting Ibaraki, Fukuoka and Nagoya as possible destinations.
With these plans, the medium- to long-haul carrier is set to become the first Asian budget airline to enter the Japanese market.
Officials from AirAsia X are expected to visit Japan in July to meet with airports interested in its service.
These will include Ibaraki Airport, which is slated to open in March 2010 and whose own officials recently traveled to Malaysia to woo the low-cost carrier.
Source:
Business in Asia Today - MAY 20, 2008
published by Asia Pulse
COPYRIGHT © 2008
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