INDIA'S GLENMARK ACQUIRES 7 POLISH PHARMACEUTICAL BRANDS
Mumbai (ANTARA News/Asia Pulse) - Indian drug maker Glenmark Pharmaceuticals on Wednesday said it has signed agreements with Iceland-based Actavis to acquire seven pharmaceutical brands in Poland for an undisclosed amount.
The acquisition would provide Glenmark with its first access to the growing pharmaceutical market in Central and East Europe, the company said in a filing to the Bombay Stock Exchange.
The acquisition of the product portfolio of seven established brands was done through Glenmark Pharmaceuticals' Czech subsidiary Medicamenta, which signed agreements with Actavis and Biovena, an affiliate of Actavis.
AUSTRALIAN FORESTRY FIRM GUNNS NEGOTIATES PULP MILL LOANS
Melbourne (ANTARA News/Asia Pulse) - Forestry firm Gunns Ltd (ASX:GNS) says it is negotiating facility terms with a banking syndicate to finance a controversial $A2 billion ($US1.92 billion) pulp mill project at Bell Bay in Tasmania.
"The company continues to receive strong international interest in relation to the financing of the Bell Bay mill, and all approvals required for the project remain on track," Gunns executive chairman John Gay said.
Mr Gay said Gunns was in talks with a number of banks in relation to financing of the project. The company was proceeding to negotiate facility terms with the banking syndicate even though debt market conditions remained challenging.
MALAYSIA'S PETRA PERDANA TAKES MAJORITY STAKE IN AUSTRALIAN VENTURE
Kuala Lumpur (ANTARA News/Asia Pulse) - Malaysia's offshore marine services provider Petra Perdana Bhd (KLSE:7108) has taken a controlling 55 per cent interest in a joint venture to market, manage and operate offshore oil and gas marine services in the southern Asia Pacific region, particularly Australia and New Zealand.
Its Australian partners in Petra Marine Australia Pty Ltd (PMA) are The Underwater Centre Fremantle Pty Ltd (TUCF) from Western Australia, which holds a 25 per cent stake, and CJES Trust from Victoria with a 20 per cent interest.
TUCF, a marine operator and diving services contractor, will be involved in providing the operational foundation necessary to ensure development of the joint venture's marine operations.
TSUJI HEAVY TO BUILD SECOND SHIPYARD IN CHINA
Tokyo (ANTARA News/Asia Pulse) - Tsuji Heavy Industries Co. plans to spend about 50 billion yen (US$472.45 million) to construct a shipyard in China's Zhejiang Province by next April, the firm's second shipbuilding facility since it entered this business in 2006.
The new shipyard, to be established on 1.6 million sq. meters of land, will be capable of annually turning out 36 midsize and large bulk cargo vessels in the 60,000- to 100,000-ton class.
A local firm in the marine transport business will participate in the project.
AUSTRALIA'S AVITA MEDICAL CLEARED TO REGISTER DEVICE IN CHINA
Perth (ANTARA News/Asia Pulse) - Avita Medical Ltd (ASX:AVH), formerly Clinical Cell Culture, has been granted approval by the Chinese State Food and Drug Administration (CFDA) to register its ReCell cell harvesting device for the Chinese market. The Perth-based company, which develops skin and burns treatments, said in a statement today that the CFDA approval was the first stage in the approval process and a key milestone in China's challenging regulatory environment.
"The next stage in the approval process is to resolve importation issues with some of the biologically active components of the ReCell device," it said.
LG ELECTRONICS TO RELEASE 'IPHONE RIVAL' IN U.S.
Seoul (ANTARA News/Asia Pulse) - LG Electronics Inc. (KSE:066570), the world's fourth-largest handset maker, said today it will release a new touch-screen mobile phone in the U.S. in order to compete with Apple Inc.'s latest iPhone models.
The LG-VX9700 model, nicknamed "Dare," will be launched Thursday in the U.S. through Verizon Wireless, and sell for US$199.99, the South Korean company said in a statement.
INDIA'S SUPREME COURT HEARS AMBANI BROS US$13.5 MLN LOAN DISPUTE
Delhi (ANTARA News/Asia Pulse) - Anil Ambani group company Reliance Infocom Infrastructure has moved to the Supreme Court seeking to recover more than Rs 580 million (US$13.5 million) of outstanding loans from a Mukesh Ambani group firm.
Reliance Infocom Infrastructure, in its petition, alleged that Madhuban Merchandise Pvt Ltd (MMPL) had failed to repay more than Rs 580 million out of Rs 2.34 billion advanced to it in 1999.
The matter will come up for hearing in the second week of July.
Challenging the Bombay High Court judgement that dismissed its winding up petition against MMPL in February this year, Reliance Infocom said that the Mumbai-based MMPL had raised "a false, unsubstantiated and untenable defence" as it did not intend to repay dues.
INDONESIA'S SUMMARECON TO WHOLLY ACQUIRE GADING ORCHARD
Jakarta (ANTARA News/Asia Pulse) - Indonesian real estate company PT Summarecon Agung will wholly acquire PT Gading Orchard, which has a land asset of 36 hectares in the Kelapa Gading business district in Jakarta.
Summarecon and Gading Orchard have reached an agreement to sign a deal valued at Rp344 billion (US$38 million), Summarecon President Johanes Mardjuki said.
OMAN CABLES & TAKAMUL SET UP ALUMINIUM PROCESSING JV
Muscat (ANTARA News/Asia Pulse) - Oman Aluminium Processing LLC (OAPIL), a newly established joint venture, will sign an agreement today covering the purchase of hot metal as feedstock from Sohar Aluminium for its proposed downstream project at Sohar, the Oman Daily Observer reported. OAPIL is 51 per cent owned by Oman Cables Industry SAOG (OCI), a leading manufacturer and exporter of high quality cables, while Takamul Investment Company, an investment vehicle promoted by the state-owned Oman Oil Company SAOC, has a 49 per cent stake.
The joint venture is expected to formalise a deal for the supply of feedstock from Sohar Aluminium for the next 10 years.
MALAYSIAN FIRM SET TO OPEN UNIVERSITY AREA IN VIETNAM
Hanoi (ANTARA News/Asia Pulse) - The Ho Chi Minh City People's Committee on July 1 awarded an investment certificate to the Malaysian company Berjaya Land Berhad (KLSE:4219) to build the Vietnam International University Township Project.
The project will develop a university urban area covering 925 ha of land in Tan Thoi Nhi Commune of Ho Chi Minh City's outer Hoc Mon District.
The project will require an investment of US$3.5 billion and form part of the city's northwest metropolitan area.
The master plan envisions the project as an integrated township dedicated to work, knowledge, lifestyle and leisure as well as to sustainable growth.
Source:
Business in Asia Today - July 3, 2008
published by Asia Pulse
COPYRIGHT © 2008
Mumbai (ANTARA News/Asia Pulse) - Indian drug maker Glenmark Pharmaceuticals on Wednesday said it has signed agreements with Iceland-based Actavis to acquire seven pharmaceutical brands in Poland for an undisclosed amount.
The acquisition would provide Glenmark with its first access to the growing pharmaceutical market in Central and East Europe, the company said in a filing to the Bombay Stock Exchange.
The acquisition of the product portfolio of seven established brands was done through Glenmark Pharmaceuticals' Czech subsidiary Medicamenta, which signed agreements with Actavis and Biovena, an affiliate of Actavis.
AUSTRALIAN FORESTRY FIRM GUNNS NEGOTIATES PULP MILL LOANS
Melbourne (ANTARA News/Asia Pulse) - Forestry firm Gunns Ltd (ASX:GNS) says it is negotiating facility terms with a banking syndicate to finance a controversial $A2 billion ($US1.92 billion) pulp mill project at Bell Bay in Tasmania.
"The company continues to receive strong international interest in relation to the financing of the Bell Bay mill, and all approvals required for the project remain on track," Gunns executive chairman John Gay said.
Mr Gay said Gunns was in talks with a number of banks in relation to financing of the project. The company was proceeding to negotiate facility terms with the banking syndicate even though debt market conditions remained challenging.
MALAYSIA'S PETRA PERDANA TAKES MAJORITY STAKE IN AUSTRALIAN VENTURE
Kuala Lumpur (ANTARA News/Asia Pulse) - Malaysia's offshore marine services provider Petra Perdana Bhd (KLSE:7108) has taken a controlling 55 per cent interest in a joint venture to market, manage and operate offshore oil and gas marine services in the southern Asia Pacific region, particularly Australia and New Zealand.
Its Australian partners in Petra Marine Australia Pty Ltd (PMA) are The Underwater Centre Fremantle Pty Ltd (TUCF) from Western Australia, which holds a 25 per cent stake, and CJES Trust from Victoria with a 20 per cent interest.
TUCF, a marine operator and diving services contractor, will be involved in providing the operational foundation necessary to ensure development of the joint venture's marine operations.
TSUJI HEAVY TO BUILD SECOND SHIPYARD IN CHINA
Tokyo (ANTARA News/Asia Pulse) - Tsuji Heavy Industries Co. plans to spend about 50 billion yen (US$472.45 million) to construct a shipyard in China's Zhejiang Province by next April, the firm's second shipbuilding facility since it entered this business in 2006.
The new shipyard, to be established on 1.6 million sq. meters of land, will be capable of annually turning out 36 midsize and large bulk cargo vessels in the 60,000- to 100,000-ton class.
A local firm in the marine transport business will participate in the project.
AUSTRALIA'S AVITA MEDICAL CLEARED TO REGISTER DEVICE IN CHINA
Perth (ANTARA News/Asia Pulse) - Avita Medical Ltd (ASX:AVH), formerly Clinical Cell Culture, has been granted approval by the Chinese State Food and Drug Administration (CFDA) to register its ReCell cell harvesting device for the Chinese market. The Perth-based company, which develops skin and burns treatments, said in a statement today that the CFDA approval was the first stage in the approval process and a key milestone in China's challenging regulatory environment.
"The next stage in the approval process is to resolve importation issues with some of the biologically active components of the ReCell device," it said.
LG ELECTRONICS TO RELEASE 'IPHONE RIVAL' IN U.S.
Seoul (ANTARA News/Asia Pulse) - LG Electronics Inc. (KSE:066570), the world's fourth-largest handset maker, said today it will release a new touch-screen mobile phone in the U.S. in order to compete with Apple Inc.'s latest iPhone models.
The LG-VX9700 model, nicknamed "Dare," will be launched Thursday in the U.S. through Verizon Wireless, and sell for US$199.99, the South Korean company said in a statement.
INDIA'S SUPREME COURT HEARS AMBANI BROS US$13.5 MLN LOAN DISPUTE
Delhi (ANTARA News/Asia Pulse) - Anil Ambani group company Reliance Infocom Infrastructure has moved to the Supreme Court seeking to recover more than Rs 580 million (US$13.5 million) of outstanding loans from a Mukesh Ambani group firm.
Reliance Infocom Infrastructure, in its petition, alleged that Madhuban Merchandise Pvt Ltd (MMPL) had failed to repay more than Rs 580 million out of Rs 2.34 billion advanced to it in 1999.
The matter will come up for hearing in the second week of July.
Challenging the Bombay High Court judgement that dismissed its winding up petition against MMPL in February this year, Reliance Infocom said that the Mumbai-based MMPL had raised "a false, unsubstantiated and untenable defence" as it did not intend to repay dues.
INDONESIA'S SUMMARECON TO WHOLLY ACQUIRE GADING ORCHARD
Jakarta (ANTARA News/Asia Pulse) - Indonesian real estate company PT Summarecon Agung will wholly acquire PT Gading Orchard, which has a land asset of 36 hectares in the Kelapa Gading business district in Jakarta.
Summarecon and Gading Orchard have reached an agreement to sign a deal valued at Rp344 billion (US$38 million), Summarecon President Johanes Mardjuki said.
OMAN CABLES & TAKAMUL SET UP ALUMINIUM PROCESSING JV
Muscat (ANTARA News/Asia Pulse) - Oman Aluminium Processing LLC (OAPIL), a newly established joint venture, will sign an agreement today covering the purchase of hot metal as feedstock from Sohar Aluminium for its proposed downstream project at Sohar, the Oman Daily Observer reported. OAPIL is 51 per cent owned by Oman Cables Industry SAOG (OCI), a leading manufacturer and exporter of high quality cables, while Takamul Investment Company, an investment vehicle promoted by the state-owned Oman Oil Company SAOC, has a 49 per cent stake.
The joint venture is expected to formalise a deal for the supply of feedstock from Sohar Aluminium for the next 10 years.
MALAYSIAN FIRM SET TO OPEN UNIVERSITY AREA IN VIETNAM
Hanoi (ANTARA News/Asia Pulse) - The Ho Chi Minh City People's Committee on July 1 awarded an investment certificate to the Malaysian company Berjaya Land Berhad (KLSE:4219) to build the Vietnam International University Township Project.
The project will develop a university urban area covering 925 ha of land in Tan Thoi Nhi Commune of Ho Chi Minh City's outer Hoc Mon District.
The project will require an investment of US$3.5 billion and form part of the city's northwest metropolitan area.
The master plan envisions the project as an integrated township dedicated to work, knowledge, lifestyle and leisure as well as to sustainable growth.
Source:
Business in Asia Today - July 3, 2008
published by Asia Pulse
COPYRIGHT © 2008
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