INDONESIA'S BUMI RESOURCES GAINS CONTROL OF HERALD RESOURCES
Perth (ANTARA News/Asia Pulse) - Indonesian coal miner Bumi Resources (JSX:BUMI) has secured control of Australia's Herald Resources Ltd (ASX:HER) after a rival suitor bowed out of a protracted bidding war for the lead and zinc hopeful on Tuesday. Bumi said in a statement today that it now holds a 51.34 stake in its target, up from 19.93 per cent earlier this week. Bumi's offer period has been automatically extended by 14 days and is now scheduled to close on July 30.
Bumi warned that shareholders who do not accept the offer before it closes - and Bumi holds a majority of Herald shares but is not entitled to proceed with compulsory acquisition - liquidity in Herald shares may be diminished.
MALAYSIA AIRLINES BUYS 35 BOEING PLANES WORTH US$2.6 BLN
Farnborough (ANTARA News/Asia Pulse) - Malaysia Airlines (MAS) (KLSE:3786) has ordered 35 Next-Generation Boeing 737-800 airplanes worth more than US$2.6 billion.
Malaysia's national flag carrier also has acquired purchase rights for an additional 20 Next-Generation 737-800s.
Boeing and MAS made the announcement at the Farnborough International Airshow in the United Kingdom on Wednesday.
INDIA'S BGR ENERGY BAGS US$1.1 BLN ORDER FOR RAJ THERMAL PJT
Mumbai (ANTARA News/Asia Pulse) - Indian engineering company BGR Energy (BSE:532930) today said the company has received an order worth Rp49 billion (US$1.1 billion) from Rajasthan Rajya Vidyut Utpadan Nigam for a thermal power project in the state. In a filing to Bombay Stock Exchange, the company said it has received an engineering, procurement and construction (EPC) contract for 2x600 MW Kalisindh thermal power project at Jhalawar, Rajasthan.
The scope of project includes engineering, supply of plant equipments and control systems.
SOUTH KOREA'S DC CHEMICAL WINS US$609 MLN POLYSILICON DEAL
Seoul (ANTARA News/Asia Pulse) - DC Chemical Co. Ltd. (KSE:010060), a South Korean chemicals producer, said Thursday it had signed a 613.7 billion won (US$609 million) contract with a Taiwanese silicon wafer company to supply polysilicon.
Under the contract with Sino-American Silicon Products Inc., DC Chemical will supply polysilicon from January 2010 to December 2016, an essential solar power component used for producing solar cells that convert sunlight into electricity, the Seoul-based company said in a filing to the Korea Exchange.
JAPAN'S MARUBENI IN US$315 MLN DEAL TO BUILD THAI POWER PLANT
Tokyo (ANTARA News/Asia Pulse) - Japan's Marubeni Corp. (TSE:8002) said Wednesday it has landed a contract to construct a natural-gas-fired power plant in Thailand.
The trading house won the order, valued at some 33 billion yen (US$315 million), with major US engineering firm Black & Veatch Corp.
The customer is Glow Energy Public Co., a major independent Thai power producer.
SHELL PHILIPPINES REQUESTS BACK UP FROM PNP DUE TO MASS ACTIONS
Manila (ANTARA News/Asia Pulse) - Oil giant Shell Philippines on Wednesday confirmed that it has beefed up its security and even requested additional back up from the Philippine National Police (PNP) to secure their office from possible militant actions.
Ed Chua, Shell country manager, said the series of militant actions had forced them to heighten security measures to ensure that no untoward incident will happen to their main office in Makati as well as their staff.
According to Chua they are willing to hold dialogue with the demonstrators to discuss and explain to them what was the reason behind the increases they are imposing on the prices of petroleum products.
Militant groups on Monday stormed the main office of Shell in Makati to protest the series of oil price hikes implemented by the firm.
JETSET SHAREHOLDERS APPROVE MERGER WITH QANTAS TRAVEL BUSINESSES
Sydney (ANTARA News/Asia Pulse) - Jetset Travelworld Ltd (ASX:JET) shareholders have voted in favour of a merger with Qantas Holidays and Qantas Business Travel.
Jetset chairman John King said in a statement after the company's extraordinary general meeting in Melbourne today that the vote paved the way for the merged entity to establish itself as one of Australia's leading integrated travel services groups. As a result of the merger, Jetset shareholders will receive a special dividend of 11 cents per share in August.
Under the deal, Jetset will acquire the Qantas businesses in exchange for scrip in Jetset.
HYUNDAI MOTOR UNION DEMANDS SEAT OF OUTSIDE DIRECTOR
Seoul (ANTARA News/Asia Pulse) - The union of Hyundai Motor Co. (KSE:005380) said Thursday it was demanding one of the seats on the automaker's board for outside directors so the union can play an active role in management and improvement of corporate governance.
The demand, which is expected to further complicate labor trouble at Hyundai this year, came a day before the 45,000-strong union plans to launch a six-hour partial strike, the fourth work stoppage this month, to press for higher pay and improvement of other labor conditions.
"Corporate transparency is a key for survival of both the management and the union," said a union official.
SIEMENS BAGS EQUIPMENT SUPPLY ORDER FROM TATA BLUESCOPE
New Delhi (ANTARA News/Asia Pulse) - The world's leading service provider for infrastructure facilities Siemens VAI Metals Technologies has bagged an order from Tata BlueScope Steel to supply equipment for the steel major's new processing lines at Jamshedpur.
The company has received the order to engineer, supply, erect and commission colour coating and hot-dipped zincalume lines from Tata BlueScope Steel, Siemens VAI Metals Technologies said in a release on its website.
Though not disclosing the order volume, the company said it is in the medium double-digit million euro range.
Tata BlueScope Steel, a 50:50 joint venture of homegrown Tata Steel (BSE:500470) and Australia's Bluescope Steel (ASX:BSL).
YAMAHA COMPLETES MOTORCYCLE WHEEL PRODUCTION SITE IN VIETNAM
Tokyo (ANTARA News/Asia Pulse) - Japan's Yamaha Motor Co. (TSE:7272) announced Wednesday it has constructed a motorcycle wheel manufacturing wing at its parts factory in Vietnam.
The company invested 1.5 billion yen (US$14.31 million) in the 9,000 square meter facility, which was built on the site of subsidiary Yamaha Motor Parts Mfg. Vietnam Co. in Hanoi.
Slated to go into service in September, the new addition will be capable of churning out 600,000 cast wheels a year for high-performance motorcycles.
Most of the cast wheels the company has sold in Vietnam to date have been procured from Indonesia and Taiwan.
Source:
Business in Asia Today - July 17, 2008
ppublished by Asia Pulse
Perth (ANTARA News/Asia Pulse) - Indonesian coal miner Bumi Resources (JSX:BUMI) has secured control of Australia's Herald Resources Ltd (ASX:HER) after a rival suitor bowed out of a protracted bidding war for the lead and zinc hopeful on Tuesday. Bumi said in a statement today that it now holds a 51.34 stake in its target, up from 19.93 per cent earlier this week. Bumi's offer period has been automatically extended by 14 days and is now scheduled to close on July 30.
Bumi warned that shareholders who do not accept the offer before it closes - and Bumi holds a majority of Herald shares but is not entitled to proceed with compulsory acquisition - liquidity in Herald shares may be diminished.
MALAYSIA AIRLINES BUYS 35 BOEING PLANES WORTH US$2.6 BLN
Farnborough (ANTARA News/Asia Pulse) - Malaysia Airlines (MAS) (KLSE:3786) has ordered 35 Next-Generation Boeing 737-800 airplanes worth more than US$2.6 billion.
Malaysia's national flag carrier also has acquired purchase rights for an additional 20 Next-Generation 737-800s.
Boeing and MAS made the announcement at the Farnborough International Airshow in the United Kingdom on Wednesday.
INDIA'S BGR ENERGY BAGS US$1.1 BLN ORDER FOR RAJ THERMAL PJT
Mumbai (ANTARA News/Asia Pulse) - Indian engineering company BGR Energy (BSE:532930) today said the company has received an order worth Rp49 billion (US$1.1 billion) from Rajasthan Rajya Vidyut Utpadan Nigam for a thermal power project in the state. In a filing to Bombay Stock Exchange, the company said it has received an engineering, procurement and construction (EPC) contract for 2x600 MW Kalisindh thermal power project at Jhalawar, Rajasthan.
The scope of project includes engineering, supply of plant equipments and control systems.
SOUTH KOREA'S DC CHEMICAL WINS US$609 MLN POLYSILICON DEAL
Seoul (ANTARA News/Asia Pulse) - DC Chemical Co. Ltd. (KSE:010060), a South Korean chemicals producer, said Thursday it had signed a 613.7 billion won (US$609 million) contract with a Taiwanese silicon wafer company to supply polysilicon.
Under the contract with Sino-American Silicon Products Inc., DC Chemical will supply polysilicon from January 2010 to December 2016, an essential solar power component used for producing solar cells that convert sunlight into electricity, the Seoul-based company said in a filing to the Korea Exchange.
JAPAN'S MARUBENI IN US$315 MLN DEAL TO BUILD THAI POWER PLANT
Tokyo (ANTARA News/Asia Pulse) - Japan's Marubeni Corp. (TSE:8002) said Wednesday it has landed a contract to construct a natural-gas-fired power plant in Thailand.
The trading house won the order, valued at some 33 billion yen (US$315 million), with major US engineering firm Black & Veatch Corp.
The customer is Glow Energy Public Co., a major independent Thai power producer.
SHELL PHILIPPINES REQUESTS BACK UP FROM PNP DUE TO MASS ACTIONS
Manila (ANTARA News/Asia Pulse) - Oil giant Shell Philippines on Wednesday confirmed that it has beefed up its security and even requested additional back up from the Philippine National Police (PNP) to secure their office from possible militant actions.
Ed Chua, Shell country manager, said the series of militant actions had forced them to heighten security measures to ensure that no untoward incident will happen to their main office in Makati as well as their staff.
According to Chua they are willing to hold dialogue with the demonstrators to discuss and explain to them what was the reason behind the increases they are imposing on the prices of petroleum products.
Militant groups on Monday stormed the main office of Shell in Makati to protest the series of oil price hikes implemented by the firm.
JETSET SHAREHOLDERS APPROVE MERGER WITH QANTAS TRAVEL BUSINESSES
Sydney (ANTARA News/Asia Pulse) - Jetset Travelworld Ltd (ASX:JET) shareholders have voted in favour of a merger with Qantas Holidays and Qantas Business Travel.
Jetset chairman John King said in a statement after the company's extraordinary general meeting in Melbourne today that the vote paved the way for the merged entity to establish itself as one of Australia's leading integrated travel services groups. As a result of the merger, Jetset shareholders will receive a special dividend of 11 cents per share in August.
Under the deal, Jetset will acquire the Qantas businesses in exchange for scrip in Jetset.
HYUNDAI MOTOR UNION DEMANDS SEAT OF OUTSIDE DIRECTOR
Seoul (ANTARA News/Asia Pulse) - The union of Hyundai Motor Co. (KSE:005380) said Thursday it was demanding one of the seats on the automaker's board for outside directors so the union can play an active role in management and improvement of corporate governance.
The demand, which is expected to further complicate labor trouble at Hyundai this year, came a day before the 45,000-strong union plans to launch a six-hour partial strike, the fourth work stoppage this month, to press for higher pay and improvement of other labor conditions.
"Corporate transparency is a key for survival of both the management and the union," said a union official.
SIEMENS BAGS EQUIPMENT SUPPLY ORDER FROM TATA BLUESCOPE
New Delhi (ANTARA News/Asia Pulse) - The world's leading service provider for infrastructure facilities Siemens VAI Metals Technologies has bagged an order from Tata BlueScope Steel to supply equipment for the steel major's new processing lines at Jamshedpur.
The company has received the order to engineer, supply, erect and commission colour coating and hot-dipped zincalume lines from Tata BlueScope Steel, Siemens VAI Metals Technologies said in a release on its website.
Though not disclosing the order volume, the company said it is in the medium double-digit million euro range.
Tata BlueScope Steel, a 50:50 joint venture of homegrown Tata Steel (BSE:500470) and Australia's Bluescope Steel (ASX:BSL).
YAMAHA COMPLETES MOTORCYCLE WHEEL PRODUCTION SITE IN VIETNAM
Tokyo (ANTARA News/Asia Pulse) - Japan's Yamaha Motor Co. (TSE:7272) announced Wednesday it has constructed a motorcycle wheel manufacturing wing at its parts factory in Vietnam.
The company invested 1.5 billion yen (US$14.31 million) in the 9,000 square meter facility, which was built on the site of subsidiary Yamaha Motor Parts Mfg. Vietnam Co. in Hanoi.
Slated to go into service in September, the new addition will be capable of churning out 600,000 cast wheels a year for high-performance motorcycles.
Most of the cast wheels the company has sold in Vietnam to date have been procured from Indonesia and Taiwan.
Source:
Business in Asia Today - July 17, 2008
ppublished by Asia Pulse
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