BABCOCK & BROWN UNITS CONFIRM DISTRIBUTION GUIDANCE
Melbourne (ANTARA News/Asia Pulse) - Two of Babcock & Brown (B&B) Ltd's (ASX:BNB) satellites - its listed infrastructure and wind funds - confirmed their distribution guidance today after their parent was routed by investors last week. Babcock & Brown Infrastructure (BBI) Ltd (ASX:BBI), which is managed by B&B, has reaffirmed its distribution guidance of 7.5 cents per
stapled security, consistent with its guidance for a full year payout of 15 cents.
The listed fund, which owns energy assets in New Zealand, Britain and the US as well as the Dalrymple Bay coal terminal in Queensland, has also appointed one of its independent directors as its acting chairman.
The announcements were welcomed by investors who pushed BBI's stock up five cents, or 5.75 per cent, to 92 cents by 1218 AEST.
PEPSICO INDIA TO INCREASE SNACK PRODUCTION CAPACITY
New Delhi (ANTARA News/Asia Pulse) - Buoyed by the growing demand of its snacks, Pepsico India Holdings is increasing production across its various plants by one third of its current capacity in India in the next 18 months.
"There has been a growing demand for our products and we will increase our capacity by one-third of our current production in the next 18 months," Pepsico India Holdings MD (Fritolay Division) Gautham Mukkavilli said.
While he declined to comment on Fritolay's current production capacity, industry sources put the figure at 80,000 tons per annum.
ATLAS IRON LIFTS STAKE IN AUSTRALIA'S WARWICK RESOURCES
Perth (ANTARA News/Asia Pulse) - Shares in iron ore explorer Warwick Resources Ltd (ASX:WRK) have jumped on the news that soon-to-be iron ore producer Atlas Iron Ltd (ASX:AGO) has lifted its strategic stake in the company.
Atlas today upped its stake in Warwick from 15.33 per cent to 19.54 per cent. Shares in Warwick were up seven cents, or 15.56 per cent, to 52 cents at 1224 AEST while Atlas shares were seven cents, or 1.84 per cent, higher at $3.87.
QANTAS ENGINEERS TO LAUNCH STRIKES ON MONDAY
Melbourne (ANTARA News/Asia Pulse) - Qantas (ASX:QAN) aircraft engineers will launch a series of rolling strikes from Monday, forcing cancellations and disruptions for passengers, as part of a pay dispute.
The Australian Licensed Aircraft Engineers Association will begin with stoppages of at least four hours' duration in Melbourne, Sydney and Cairns, Fairfax newspapers report today.
Strikes will hit Qantas operations in Melbourne, Sydney, Brisbane and Perth on Tuesday, with further action planned at least for the rest of the week.
News of the strike action comes as Qantas warns it may be forced to cut routes and jobs, freeze executive salaries and ground planes because of rising fuel costs.
GUANGZHOU PHARMACY, ALLIANCE BOOTS LAUNCH JOINT VENTURE
Guangzhou (ANTARA News/Asia Pulse) - Approved by the Ministry of Commerce and other governmental departments concerned, the Guangzhou Pharmaceutical Co Ltd and the Britain-based Alliance Boots Limited has founded a pharmaceutical joint venture in Guangzhou, capital city of south China's Guangdong province.
The joint venture, with registered capital of 400 million yuan (US$58.1 million), is estimated to have a total investment of 1.2 billion yuan. It is now the biggest Sino-foreign joint venture in China's pharmacy distribution sector.
MITSUBISHI UFJ TO EXPAND CARBON-TRADING BUSINESS IN CHINA
Beijing (ANTARA News/Asia Pulse) - Mitsubishi UFJ Financial Group Inc. (TSE:8306) will step up its environment-related operations in China, providing a governmental commission there with know-how on trading of carbon credits.
The Japanese banking group and China's National Development and Reform Commission on Wednesday inked a memorandum of understanding to cooperate in promoting projects under the United Nations' Clean Development Mechanism.
Under the CDM, companies in industrialized nations supply funds and technologies to curb global warming in developing countries in exchange for emissions credits.
DAEWOO SHIPBUILDING WINS US$519 MLN DEAL FOR 4 SHIPS
Seoul (ANTARA News/Asia Pulse) - Daewoo Shipbuilding & Marine Engineering Co. (KSE:042660), the world's third-largest shipyard, said today that it has received a 532.8-billion-won (US$519 million) order to build four vessels.
The deal with a European shipping company calls on Daewoo Shipbuilding to deliver two oil carriers and two bulk carriers by December 2011, the company said in a regulatory filing.
Shares of Daewoo Shipbuilding were trading at 41,500 won on the Seoul bourse as of 1:57 p.m., down 1.07 per cent.
PHILIPPINES' TEAM ENERGY READY FOR GOV'T OPEN ACCESS PLAN
Manila (ANTARA News/Asia Pulse) - Team Energy, the owner and operator of THE 1,200 megawatt (MW) coal-fired Sual plant in Pangasinan and 735W Pagbilao coal-fired facility in Quezon, said it has more than 200MW excess capacity available should the government push through with an open access plan.
Federico Puno, president and CEO of Team Energy Corporations said they can offer at least 200MW from Sual and 35W from Pagbilao or a total of 235W excess capacity.
We are gearing up for open access. We will try to sell 200MW from Sual and 35MW from Pagbilao," Puno told reporters.
SAMSUNG ELECTRONICS BEGINS PRODUCTION AT SINGAPORE WAFER PLANT
Seoul (ANTARA News/Asia Pulse) - Samsung Electronics Co. (KSE:005930), the world's largest computer memory chip maker, said today it started production at its newly-built silicon wafer factory in Singapore.
Samsung Electronics, together with its joint investment partner Siltronic AG of Germany, held a completion ceremony of the US$400 million-invested wafer plant in Singapore earlier in the day, the South Korean company said in a statement.
The plant currently has a monthly output capacity of 300,000 wafers, which will be used by both Samsung and Siltronic, one of the leading silicon wafer providers in the world.
CHINA'S DATANG MOBILE COMMS SET TO SELL OFF T3G STAKE
Beijing (ANTARA News/Asia Pulse) - Datang Mobile Communications Equipment is seeking to pull out of T3G Technology, one of the five major chip suppliers for mobile phones based on TD-SCDMA, a Chinese home-grown 3G (third generation) mobile telephony standard.
Datang Mobile, the second largest stakeholder of T3G, is putting its 32.11 per cent stake on sale for 122.2 million yuan
(US$17.75 million), according to a notice posted on the website of Beijing Equity Exchange.
The move comes on the heels of the collapse of Commit Inc, another major TD-SCDMA chipmaker, which has dimmed the prospects of TD-SCDMA.
There are rumors that Geneva-based semiconductor maker STMicroelectronics might take over Datang Mobile's stake in T3G.
Source:
Business in Asia Today - JUNE 19, 2008
published by Asia Pulse
COPYRIGHT © 2008
Melbourne (ANTARA News/Asia Pulse) - Two of Babcock & Brown (B&B) Ltd's (ASX:BNB) satellites - its listed infrastructure and wind funds - confirmed their distribution guidance today after their parent was routed by investors last week. Babcock & Brown Infrastructure (BBI) Ltd (ASX:BBI), which is managed by B&B, has reaffirmed its distribution guidance of 7.5 cents per
stapled security, consistent with its guidance for a full year payout of 15 cents.
The listed fund, which owns energy assets in New Zealand, Britain and the US as well as the Dalrymple Bay coal terminal in Queensland, has also appointed one of its independent directors as its acting chairman.
The announcements were welcomed by investors who pushed BBI's stock up five cents, or 5.75 per cent, to 92 cents by 1218 AEST.
PEPSICO INDIA TO INCREASE SNACK PRODUCTION CAPACITY
New Delhi (ANTARA News/Asia Pulse) - Buoyed by the growing demand of its snacks, Pepsico India Holdings is increasing production across its various plants by one third of its current capacity in India in the next 18 months.
"There has been a growing demand for our products and we will increase our capacity by one-third of our current production in the next 18 months," Pepsico India Holdings MD (Fritolay Division) Gautham Mukkavilli said.
While he declined to comment on Fritolay's current production capacity, industry sources put the figure at 80,000 tons per annum.
ATLAS IRON LIFTS STAKE IN AUSTRALIA'S WARWICK RESOURCES
Perth (ANTARA News/Asia Pulse) - Shares in iron ore explorer Warwick Resources Ltd (ASX:WRK) have jumped on the news that soon-to-be iron ore producer Atlas Iron Ltd (ASX:AGO) has lifted its strategic stake in the company.
Atlas today upped its stake in Warwick from 15.33 per cent to 19.54 per cent. Shares in Warwick were up seven cents, or 15.56 per cent, to 52 cents at 1224 AEST while Atlas shares were seven cents, or 1.84 per cent, higher at $3.87.
QANTAS ENGINEERS TO LAUNCH STRIKES ON MONDAY
Melbourne (ANTARA News/Asia Pulse) - Qantas (ASX:QAN) aircraft engineers will launch a series of rolling strikes from Monday, forcing cancellations and disruptions for passengers, as part of a pay dispute.
The Australian Licensed Aircraft Engineers Association will begin with stoppages of at least four hours' duration in Melbourne, Sydney and Cairns, Fairfax newspapers report today.
Strikes will hit Qantas operations in Melbourne, Sydney, Brisbane and Perth on Tuesday, with further action planned at least for the rest of the week.
News of the strike action comes as Qantas warns it may be forced to cut routes and jobs, freeze executive salaries and ground planes because of rising fuel costs.
GUANGZHOU PHARMACY, ALLIANCE BOOTS LAUNCH JOINT VENTURE
Guangzhou (ANTARA News/Asia Pulse) - Approved by the Ministry of Commerce and other governmental departments concerned, the Guangzhou Pharmaceutical Co Ltd and the Britain-based Alliance Boots Limited has founded a pharmaceutical joint venture in Guangzhou, capital city of south China's Guangdong province.
The joint venture, with registered capital of 400 million yuan (US$58.1 million), is estimated to have a total investment of 1.2 billion yuan. It is now the biggest Sino-foreign joint venture in China's pharmacy distribution sector.
MITSUBISHI UFJ TO EXPAND CARBON-TRADING BUSINESS IN CHINA
Beijing (ANTARA News/Asia Pulse) - Mitsubishi UFJ Financial Group Inc. (TSE:8306) will step up its environment-related operations in China, providing a governmental commission there with know-how on trading of carbon credits.
The Japanese banking group and China's National Development and Reform Commission on Wednesday inked a memorandum of understanding to cooperate in promoting projects under the United Nations' Clean Development Mechanism.
Under the CDM, companies in industrialized nations supply funds and technologies to curb global warming in developing countries in exchange for emissions credits.
DAEWOO SHIPBUILDING WINS US$519 MLN DEAL FOR 4 SHIPS
Seoul (ANTARA News/Asia Pulse) - Daewoo Shipbuilding & Marine Engineering Co. (KSE:042660), the world's third-largest shipyard, said today that it has received a 532.8-billion-won (US$519 million) order to build four vessels.
The deal with a European shipping company calls on Daewoo Shipbuilding to deliver two oil carriers and two bulk carriers by December 2011, the company said in a regulatory filing.
Shares of Daewoo Shipbuilding were trading at 41,500 won on the Seoul bourse as of 1:57 p.m., down 1.07 per cent.
PHILIPPINES' TEAM ENERGY READY FOR GOV'T OPEN ACCESS PLAN
Manila (ANTARA News/Asia Pulse) - Team Energy, the owner and operator of THE 1,200 megawatt (MW) coal-fired Sual plant in Pangasinan and 735W Pagbilao coal-fired facility in Quezon, said it has more than 200MW excess capacity available should the government push through with an open access plan.
Federico Puno, president and CEO of Team Energy Corporations said they can offer at least 200MW from Sual and 35W from Pagbilao or a total of 235W excess capacity.
We are gearing up for open access. We will try to sell 200MW from Sual and 35MW from Pagbilao," Puno told reporters.
SAMSUNG ELECTRONICS BEGINS PRODUCTION AT SINGAPORE WAFER PLANT
Seoul (ANTARA News/Asia Pulse) - Samsung Electronics Co. (KSE:005930), the world's largest computer memory chip maker, said today it started production at its newly-built silicon wafer factory in Singapore.
Samsung Electronics, together with its joint investment partner Siltronic AG of Germany, held a completion ceremony of the US$400 million-invested wafer plant in Singapore earlier in the day, the South Korean company said in a statement.
The plant currently has a monthly output capacity of 300,000 wafers, which will be used by both Samsung and Siltronic, one of the leading silicon wafer providers in the world.
CHINA'S DATANG MOBILE COMMS SET TO SELL OFF T3G STAKE
Beijing (ANTARA News/Asia Pulse) - Datang Mobile Communications Equipment is seeking to pull out of T3G Technology, one of the five major chip suppliers for mobile phones based on TD-SCDMA, a Chinese home-grown 3G (third generation) mobile telephony standard.
Datang Mobile, the second largest stakeholder of T3G, is putting its 32.11 per cent stake on sale for 122.2 million yuan
(US$17.75 million), according to a notice posted on the website of Beijing Equity Exchange.
The move comes on the heels of the collapse of Commit Inc, another major TD-SCDMA chipmaker, which has dimmed the prospects of TD-SCDMA.
There are rumors that Geneva-based semiconductor maker STMicroelectronics might take over Datang Mobile's stake in T3G.
Source:
Business in Asia Today - JUNE 19, 2008
published by Asia Pulse
COPYRIGHT © 2008
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