SOUTH KOREA'S DC CHEMICAL WINS $US890MLN POLYSILICON DEAL
Seoul (ANTARA News/Asia Pulse) - The DC Chemical Co. Ltd., (KSE:010060), a South Korean chemicals producer, said Monday that it had secured a 892-billion-won (US$890 million) contract with its affiliate to supply polysilicon.
The latest order from the Nexolon Co. Ltd. called on DC Chemical to supply polysilicon, a solar-power component, from January 2009 to December 2015, DC Chemical said in a filing to the Korea Exchange.
Polysilicon is an essential solar power component in producing solar cells used for panels to convert sunlight into electricity.
The deal follows DC Chemical's supply contracts worth US$1.5 billion last week with two major Taiwanese companies.
INDIA'S BHEL GETS US$512.1 MLN ORDER TO SET UP POWER UNIT
New Delhi (ANTARA News/Asia Pulse) - Bharat Heavy Electricals Ltd (BHEL) (BSE: 500103) on Friday said it had won a Rs 21.75 billion (US$512.1 million) contract to set up a 600 MW thermal power generating unit in Tamil Nadu.
The EPC contract had been placed on BHEL by Tamil Nadu Electricity Board (TNEB) to set up the unit at North Chennai Thermal Power Station, a company press release said here.
This is the second order secured by BHEL for the new rating unit of 600 MW designed to sub-critical parameters.
For the contract, the boiler and its auxiliaries will be manufactured by BHEL at its Tiruchirapalli and Ranipet works in Tamil Nadu, while the steam turbine and generator would be manufactured at its Haridwar plant.
INSURER BUPA SET TO ENTER INDIAN HEALTH INSURANCE SECTOR
Sydney (ANTARA News/Asia Pulse) - Insurer Bupa plans to enter the Indian health insurance market though a joint venture after taking a 26 per cent stake in Max India Ltd.
The two companies announced the creation of a joint venture called Max Bupa Health Insurance Ltd which, subject to regulatory approval, will offer a suite of products to both consumer and business customers, Bupa said.
The initial share capital of the joint venture would be around $A24 million ($US23.23 million), Bupa said.
Bupa Asia-Pacific managing director Dean Holden said: "India is an important health insurance market where there is great potential for growth among a young population able to access the care and service that Max India and Bupa can deliver with the proposed joint venture."
ELECTRICITY OF VIETNAM GRANTED LICENCE TO EQUITISE SUBSIDIARIES
Hanoi (ANTARA News/Asia Pulse) - The State Bank of Vietnam (SBV) has officially granted a business licence to the Electricity of Vietnam's Financial Joint Stock Company (EVNFC) in a move to aid the mobilisation and capital management of the electricity industry.
EVNFC will rank second among 14 financial companies managed by the SBV, with a charter capital of 2.5 trillion VND (US$157.5 million).
Aside from effectively mobilising and managing investment capital sources, the financial joint stock company is also expected to speed up the equitisation of Electricity of Vietnam's (EVN) subsidiaries.
BRUNEI FIRM TO BUILD US$4.3BLN TOURISM COMPLEX IN VIETNAM
Hanoi (ANTARA News/Asia Pulse) - Vietnam's central Phu Yen province has licensed the New City Properties Development Co. Ltd. of Brunei to build a high-grade tourism complex to the tune of US$4.3 billion.
The project will feature luxury resorts, 4,300 five-star and 8,900 four-star hotel rooms, 160 high-grade villas, a 36-hole golf course and many other service facilities.
Covering 565 hectares in Tuy Hoa city, the project is scheduled for completion in 2017.
HCM CITY LICENSES $US120MLN RESIDENTIAL COMPLEX
HCM City (ANTARA News/Asia Pulse) - Ho Chi Minh City on July 11 granted a licence for a $US120 million residential complex to be called Horizon Place.
Horizon Place will be built on 8,400 sq.m in the southern commercial hub's precinct 4. It will include two apartment buildings, an office building and a trade centre.
Construction is scheduled to start in the fourth quarter of this year and be completed in 2012. The complex is to be built by the Aseana BDC Company, a joint venture between Aseana Properties of Malaysia and the Binh Duong Joint Stock Company.
NEW ENGINE PLANT TO LIFT SUPPLY TO NISSAN TRUCK VENTURE IN CHINA
Guangzhou, China (ANTARA News/Asia Pulse) - The Nissan Motor Co. (TSE:7201) and Chinese partner Dongfeng Motor Corp. plan to build an engine factory in central China to supply their expanding commercial vehicle operations.
Japanese automaker Nissan expects that strong demand for light commercial vehicles will propel it toward its higher Chinese sales target.
The new plant will cost more than 1.5 billion yuan (US$219.49 million), or about 24 billion yen, and be situated near Zhengzhou Nissan Automobile Co., a Henan Province joint venture between the two automakers.
Production is to begin next March. The plant will be operated as a joint venture to be formed this October with initial capitalization of 720 million yuan, or roughly 11 billion yen (US$103.46 million).
WESTPAC BUYS 40PCT STAKE IN WESTPAC BANK OF TONGA
Sydney (ANTARA News/Asia Pulse) - Australia's Westpac Banking Corp (ASX:WBC) has bought a 40 per cent stake held by the Government of Tonga in the Westpac Bank of Tonga for an undisclosed sum.
The move gives Westpac outright ownership of the Tongan operation, after the government decided to offload its interest as part of a divestment program.
"The acquisition aligns with Westpac's growth strategy in the Pacific and its commitment to the region," the bank said.
INDIA'S CATMOSS TO INVEST US$94.2MLN IN ROLLING OUT 500 STORES
New Delhi (ANTARA News/Asia Pulse) - Kidswear chain Catmoss Retail Friday said it would invest Rs4 billion (US$94.2 million) in the next five
years to expand its outlets to 500 stores in India by 2010-11.
It is also planning to foray into overseas markets, including Australia and the Middle East. "We have just crossed the 100 stores mark across the country and are adding another 100 odd in various Tier II and III cities this year.
We also plan to set up 20-25 stores in Australia and the Middle East," Catmoss Retail Chairman Ashwani Chawla said. In Australia and the Middle East, the new Catmoss stores will come up in Sydney, Melbourne, Dubai and Abu Dhabi among other cities, he added.
AL HABTOOR LEIGHTON GROUP WINS ABU DHABI PROJECT
Sydney (ANTARA News/Asia Pulse) - The Al Habtoor Leighton Group (ASX:LEI) has won a AED2.25 billion ($A632.9 million) project in Abu Dhabi.
The Al Bustan complex comprises five 17-storey towers above a five-level carpark that includes a hotel, ofice tower, serviced apartments and retail and food outlets.
Leighton holds a 45 per cent stake in the joint venture.
Leighton said work on the project would commence immediately, with construction expected to be completed by October 2010. Today's announcement follows the recent win by the JV of the AED740 million ($A208.1 million) Olgana and Hilliana Towers project for Abyaar in Dubai.
Source:
Business in Asia Today - July 14, 2008
published by Asia Pulse
Seoul (ANTARA News/Asia Pulse) - The DC Chemical Co. Ltd., (KSE:010060), a South Korean chemicals producer, said Monday that it had secured a 892-billion-won (US$890 million) contract with its affiliate to supply polysilicon.
The latest order from the Nexolon Co. Ltd. called on DC Chemical to supply polysilicon, a solar-power component, from January 2009 to December 2015, DC Chemical said in a filing to the Korea Exchange.
Polysilicon is an essential solar power component in producing solar cells used for panels to convert sunlight into electricity.
The deal follows DC Chemical's supply contracts worth US$1.5 billion last week with two major Taiwanese companies.
INDIA'S BHEL GETS US$512.1 MLN ORDER TO SET UP POWER UNIT
New Delhi (ANTARA News/Asia Pulse) - Bharat Heavy Electricals Ltd (BHEL) (BSE: 500103) on Friday said it had won a Rs 21.75 billion (US$512.1 million) contract to set up a 600 MW thermal power generating unit in Tamil Nadu.
The EPC contract had been placed on BHEL by Tamil Nadu Electricity Board (TNEB) to set up the unit at North Chennai Thermal Power Station, a company press release said here.
This is the second order secured by BHEL for the new rating unit of 600 MW designed to sub-critical parameters.
For the contract, the boiler and its auxiliaries will be manufactured by BHEL at its Tiruchirapalli and Ranipet works in Tamil Nadu, while the steam turbine and generator would be manufactured at its Haridwar plant.
INSURER BUPA SET TO ENTER INDIAN HEALTH INSURANCE SECTOR
Sydney (ANTARA News/Asia Pulse) - Insurer Bupa plans to enter the Indian health insurance market though a joint venture after taking a 26 per cent stake in Max India Ltd.
The two companies announced the creation of a joint venture called Max Bupa Health Insurance Ltd which, subject to regulatory approval, will offer a suite of products to both consumer and business customers, Bupa said.
The initial share capital of the joint venture would be around $A24 million ($US23.23 million), Bupa said.
Bupa Asia-Pacific managing director Dean Holden said: "India is an important health insurance market where there is great potential for growth among a young population able to access the care and service that Max India and Bupa can deliver with the proposed joint venture."
ELECTRICITY OF VIETNAM GRANTED LICENCE TO EQUITISE SUBSIDIARIES
Hanoi (ANTARA News/Asia Pulse) - The State Bank of Vietnam (SBV) has officially granted a business licence to the Electricity of Vietnam's Financial Joint Stock Company (EVNFC) in a move to aid the mobilisation and capital management of the electricity industry.
EVNFC will rank second among 14 financial companies managed by the SBV, with a charter capital of 2.5 trillion VND (US$157.5 million).
Aside from effectively mobilising and managing investment capital sources, the financial joint stock company is also expected to speed up the equitisation of Electricity of Vietnam's (EVN) subsidiaries.
BRUNEI FIRM TO BUILD US$4.3BLN TOURISM COMPLEX IN VIETNAM
Hanoi (ANTARA News/Asia Pulse) - Vietnam's central Phu Yen province has licensed the New City Properties Development Co. Ltd. of Brunei to build a high-grade tourism complex to the tune of US$4.3 billion.
The project will feature luxury resorts, 4,300 five-star and 8,900 four-star hotel rooms, 160 high-grade villas, a 36-hole golf course and many other service facilities.
Covering 565 hectares in Tuy Hoa city, the project is scheduled for completion in 2017.
HCM CITY LICENSES $US120MLN RESIDENTIAL COMPLEX
HCM City (ANTARA News/Asia Pulse) - Ho Chi Minh City on July 11 granted a licence for a $US120 million residential complex to be called Horizon Place.
Horizon Place will be built on 8,400 sq.m in the southern commercial hub's precinct 4. It will include two apartment buildings, an office building and a trade centre.
Construction is scheduled to start in the fourth quarter of this year and be completed in 2012. The complex is to be built by the Aseana BDC Company, a joint venture between Aseana Properties of Malaysia and the Binh Duong Joint Stock Company.
NEW ENGINE PLANT TO LIFT SUPPLY TO NISSAN TRUCK VENTURE IN CHINA
Guangzhou, China (ANTARA News/Asia Pulse) - The Nissan Motor Co. (TSE:7201) and Chinese partner Dongfeng Motor Corp. plan to build an engine factory in central China to supply their expanding commercial vehicle operations.
Japanese automaker Nissan expects that strong demand for light commercial vehicles will propel it toward its higher Chinese sales target.
The new plant will cost more than 1.5 billion yuan (US$219.49 million), or about 24 billion yen, and be situated near Zhengzhou Nissan Automobile Co., a Henan Province joint venture between the two automakers.
Production is to begin next March. The plant will be operated as a joint venture to be formed this October with initial capitalization of 720 million yuan, or roughly 11 billion yen (US$103.46 million).
WESTPAC BUYS 40PCT STAKE IN WESTPAC BANK OF TONGA
Sydney (ANTARA News/Asia Pulse) - Australia's Westpac Banking Corp (ASX:WBC) has bought a 40 per cent stake held by the Government of Tonga in the Westpac Bank of Tonga for an undisclosed sum.
The move gives Westpac outright ownership of the Tongan operation, after the government decided to offload its interest as part of a divestment program.
"The acquisition aligns with Westpac's growth strategy in the Pacific and its commitment to the region," the bank said.
INDIA'S CATMOSS TO INVEST US$94.2MLN IN ROLLING OUT 500 STORES
New Delhi (ANTARA News/Asia Pulse) - Kidswear chain Catmoss Retail Friday said it would invest Rs4 billion (US$94.2 million) in the next five
years to expand its outlets to 500 stores in India by 2010-11.
It is also planning to foray into overseas markets, including Australia and the Middle East. "We have just crossed the 100 stores mark across the country and are adding another 100 odd in various Tier II and III cities this year.
We also plan to set up 20-25 stores in Australia and the Middle East," Catmoss Retail Chairman Ashwani Chawla said. In Australia and the Middle East, the new Catmoss stores will come up in Sydney, Melbourne, Dubai and Abu Dhabi among other cities, he added.
AL HABTOOR LEIGHTON GROUP WINS ABU DHABI PROJECT
Sydney (ANTARA News/Asia Pulse) - The Al Habtoor Leighton Group (ASX:LEI) has won a AED2.25 billion ($A632.9 million) project in Abu Dhabi.
The Al Bustan complex comprises five 17-storey towers above a five-level carpark that includes a hotel, ofice tower, serviced apartments and retail and food outlets.
Leighton holds a 45 per cent stake in the joint venture.
Leighton said work on the project would commence immediately, with construction expected to be completed by October 2010. Today's announcement follows the recent win by the JV of the AED740 million ($A208.1 million) Olgana and Hilliana Towers project for Abyaar in Dubai.
Source:
Business in Asia Today - July 14, 2008
published by Asia Pulse
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