SOUTH KOREA FINES INTEL OVER ANTI-TRUST VIOLATIONS
Seoul (ANTARA News/Asia Pulse) - South Korea's anti-trust watchdog on Thursday fined U.S. computer chip giant Intel Corp. 26 billion won (US$25.4 million) for violating fair trade regulations.
Intel said it was considering an appeal against the decision. The Fair Trade Commission (FTC) ruled that Intel had abused its dominant market position in transactions under which it offered rebates to computer makers in exchange for sealing exclusive deals and coercing them not to buy products from rivals such as Advanced Micro Devices Inc.
The ruling came amid an ongoing investigation into similar allegations against Intel in the European Union and the United States.
In 2005, Japan advised the U.S. tech giant to rectify such anti-competitive practices.
STRICKEN AUSTRALIAN FUND MANAGER OCTAVIAR FACES REPAYMENT DEMAND
Melbourne (ANTARA News/Asia Pulse) - Octaviar Ltd's (ASX:OCV) woes have deepened after the Public Trustee of Queensland (PTQ) backed up its demand the repayment of A$351 million (US$335.5 million) of debt with a court order to wind up the stricken Australian fund manager.
Octaviar, formerly known as MFS, today confirmed PTQ had moved on its repayment demand issued last week and the state government agency yesterday applied for winding up orders for Octaviar Ltd, Octaviar Investment Notes Ltd, Octaviar Investment Bonds Ltd and Octaviar Financial Services Ltd, in the Supreme Court of Queensland.
Octaviar said it was considering the applications filed yesterday and hoped to discuss the them with the PTQ before any court hearing.
AUSTRALIAN VINTAGE ON TRACK TO SELL LOXTON WINERY
Sydney (ANTARA News/Asia Pulse) - Australian Vintage Ltd (ASX:AVG) says it is on track to finalise the sale of its Loxton winery in South Australia before September 18.
The company, formerly known as McGuigan Simeon Wines, said the buyer of the winery, the Australian-related bodies corporate of Champagne Indage Ltd, had received approval from the Foreign Investment Review board (FIRB) for the deal.
Australian Vintage said in May it had entered a land sale and business sale agreement to sell the 90,000-tonne capacity winery and Austflavour business to Indage for $60 million.
CALL FOR KRAKATAU STEEL PRIVATIZATION TO BE DONE THROUGH IPO
Jakarta (ANTARA News/Asia Pulse) - Indonesian Enterprises Minister Sofyan Djalil said that the privatization of the state-owned PT Krakatau Steel would have to be done though an Initial Public Offering (IPO) which his ministry had scheduled to take place in September 2008.
"We have decided to privatize Krakatau Steel through an IPO, but the decision is still subject to approval by the House of Representatives (DPR)," Djalil said Wednesday.
He said his ministry would "challenge" the House and the KS management to agree to carry out the IPO as soon as possible. Djalil's statements come amid a controversy on whether the state's sole steel-making company should be privatized through an IPO or a strategic sale.
AUSTRALIA'S WEBJET ENTERS INTO HOTEL ROOM DEAL WITH EBAY
Sydney (ANTARA News/Asia Pulse) - Online travel agent Webjet Ltd (ASX:WEB) has entered into a deal with eBay to supply, distribute and market hotel rooms online through the auction and shopping website.
Webjet said the partnership brought together Webjet's access to over 50,000 hotels with eBay's customer databases - which totals over five million members in Australia.
"Unlike many other forms of distribution, eBay has a unique and very special community of members of enormous size and marketing strength in the Australian region," Webjet managing director David Clarke said.
"It is the largest single step that Webjet could make in terms of extending its market footprint into the sale of hotels."
TAIWAN'S HON HAI GROUP TO INVEST IN KAOHSIUNG
Kaohsiung (ANTARA News/Asia Pulse) - Hon Hai Group Chairman Terry Gou signed a letter of intent with Minister of Economic Affairs Yiin Chii-ming at a software park in Kaohsiung Wednesday, his first step in a high-profile plan to invest in the largest city in southern Taiwan.
At the signing ceremony, which was witnessed by Vice President Vincent Siew and Kaohsiung Mayor Chen Chu, Gou said the investment in the Kaohsiung Software Park represented his determination to help President Ma Ying-jeou carry out his promise to boost investment in the port city.
Gou said the Hon Hai group - the world's largest contract maker of electronics - will base its Kaohsiung investment at the software park and that the project will center on the cultivation and upgrading in terms of innovation, research, development and design.
VIETNAM'S THAN UYEN TEA CO RECEIVES EUROPEAN QUALITY STATUS
Lai Chau (ANTARA News/Asia Pulse) - The Than Uyen Tea Joint Stock Company from Vietnam's northern mountainous province of Lai Chau has received European quality status for its Shan Tuyet green tea.
TQ CSI International granted a ISO 22000:2005 Certificate for Food Safety Management Systems to the company, making it first in the nation's tea industry to receive the European-standard approval.
CHINESE PHARMA LIVZON TO BUY BACK 10 MLN B-SHARES
Beijing (ANTARA News/Asia Pulse) - LIVZON Pharmaceutical Group Inc. (SSE:000513) plans to buy back 10 million B-shares at a price below HK$16 per share, as it believes that its stock is severely undervalued.
The buyback volume accounts for 8.18 per cent and 3.27 per cent of the company's listed B-shares and total equity, respectively. Upon completion of the buyback, the company's annual earnings per share are expected to increase by 0.06 yuan, or 3.61 per cent.
The company said that the buyback would not heavily influence its operation.
JAPANESE CO TAKIRON DEVISES BIODEGRADABLE BONE-SET SCREW
Tokyo (ANTARA News/Asia Pulse) - Takiron Co. (TSE:4215) has developed a hollow version of its biodegradable screws used to fasten bones together when mending fractures and performing bone transplants.
The advantage of hollow screws is that they can be positioned directly over the pin for exact placement, but until now strength has been an issue.
Takiron solved the problem and is able to make hollow screws that are nearly as strong as the solid types by forging the starting materials the same way a sword is forged.
IDEMITSU TO MAKE PLASTICS IN CHINA TO MEET REGIONAL DEMAND
Tokyo (ANTARA News/Asia Pulse) - Idemitsu Kosan Co. (TSE:5019) announced plans Wednesday to produce three high-performance plastics in China, with a plant in Guangzhou scheduled to go into operation in October 2009.
The company markets engineering plastics in the U.S., Europe, Japan and other parts of Asia. Production of such plastics sold in Asia is currently outsourced to Chinese firms.
But with the Asian market growing roughly 20 per cent a year, Idemitsu seeks to expand sales even further by launching in-house operations.
Source:
Business in Asia Today - JUNE 05, 2008
published by Asia Pulse
COPYRIGHT © 2008
Seoul (ANTARA News/Asia Pulse) - South Korea's anti-trust watchdog on Thursday fined U.S. computer chip giant Intel Corp. 26 billion won (US$25.4 million) for violating fair trade regulations.
Intel said it was considering an appeal against the decision. The Fair Trade Commission (FTC) ruled that Intel had abused its dominant market position in transactions under which it offered rebates to computer makers in exchange for sealing exclusive deals and coercing them not to buy products from rivals such as Advanced Micro Devices Inc.
The ruling came amid an ongoing investigation into similar allegations against Intel in the European Union and the United States.
In 2005, Japan advised the U.S. tech giant to rectify such anti-competitive practices.
STRICKEN AUSTRALIAN FUND MANAGER OCTAVIAR FACES REPAYMENT DEMAND
Melbourne (ANTARA News/Asia Pulse) - Octaviar Ltd's (ASX:OCV) woes have deepened after the Public Trustee of Queensland (PTQ) backed up its demand the repayment of A$351 million (US$335.5 million) of debt with a court order to wind up the stricken Australian fund manager.
Octaviar, formerly known as MFS, today confirmed PTQ had moved on its repayment demand issued last week and the state government agency yesterday applied for winding up orders for Octaviar Ltd, Octaviar Investment Notes Ltd, Octaviar Investment Bonds Ltd and Octaviar Financial Services Ltd, in the Supreme Court of Queensland.
Octaviar said it was considering the applications filed yesterday and hoped to discuss the them with the PTQ before any court hearing.
AUSTRALIAN VINTAGE ON TRACK TO SELL LOXTON WINERY
Sydney (ANTARA News/Asia Pulse) - Australian Vintage Ltd (ASX:AVG) says it is on track to finalise the sale of its Loxton winery in South Australia before September 18.
The company, formerly known as McGuigan Simeon Wines, said the buyer of the winery, the Australian-related bodies corporate of Champagne Indage Ltd, had received approval from the Foreign Investment Review board (FIRB) for the deal.
Australian Vintage said in May it had entered a land sale and business sale agreement to sell the 90,000-tonne capacity winery and Austflavour business to Indage for $60 million.
CALL FOR KRAKATAU STEEL PRIVATIZATION TO BE DONE THROUGH IPO
Jakarta (ANTARA News/Asia Pulse) - Indonesian Enterprises Minister Sofyan Djalil said that the privatization of the state-owned PT Krakatau Steel would have to be done though an Initial Public Offering (IPO) which his ministry had scheduled to take place in September 2008.
"We have decided to privatize Krakatau Steel through an IPO, but the decision is still subject to approval by the House of Representatives (DPR)," Djalil said Wednesday.
He said his ministry would "challenge" the House and the KS management to agree to carry out the IPO as soon as possible. Djalil's statements come amid a controversy on whether the state's sole steel-making company should be privatized through an IPO or a strategic sale.
AUSTRALIA'S WEBJET ENTERS INTO HOTEL ROOM DEAL WITH EBAY
Sydney (ANTARA News/Asia Pulse) - Online travel agent Webjet Ltd (ASX:WEB) has entered into a deal with eBay to supply, distribute and market hotel rooms online through the auction and shopping website.
Webjet said the partnership brought together Webjet's access to over 50,000 hotels with eBay's customer databases - which totals over five million members in Australia.
"Unlike many other forms of distribution, eBay has a unique and very special community of members of enormous size and marketing strength in the Australian region," Webjet managing director David Clarke said.
"It is the largest single step that Webjet could make in terms of extending its market footprint into the sale of hotels."
TAIWAN'S HON HAI GROUP TO INVEST IN KAOHSIUNG
Kaohsiung (ANTARA News/Asia Pulse) - Hon Hai Group Chairman Terry Gou signed a letter of intent with Minister of Economic Affairs Yiin Chii-ming at a software park in Kaohsiung Wednesday, his first step in a high-profile plan to invest in the largest city in southern Taiwan.
At the signing ceremony, which was witnessed by Vice President Vincent Siew and Kaohsiung Mayor Chen Chu, Gou said the investment in the Kaohsiung Software Park represented his determination to help President Ma Ying-jeou carry out his promise to boost investment in the port city.
Gou said the Hon Hai group - the world's largest contract maker of electronics - will base its Kaohsiung investment at the software park and that the project will center on the cultivation and upgrading in terms of innovation, research, development and design.
VIETNAM'S THAN UYEN TEA CO RECEIVES EUROPEAN QUALITY STATUS
Lai Chau (ANTARA News/Asia Pulse) - The Than Uyen Tea Joint Stock Company from Vietnam's northern mountainous province of Lai Chau has received European quality status for its Shan Tuyet green tea.
TQ CSI International granted a ISO 22000:2005 Certificate for Food Safety Management Systems to the company, making it first in the nation's tea industry to receive the European-standard approval.
CHINESE PHARMA LIVZON TO BUY BACK 10 MLN B-SHARES
Beijing (ANTARA News/Asia Pulse) - LIVZON Pharmaceutical Group Inc. (SSE:000513) plans to buy back 10 million B-shares at a price below HK$16 per share, as it believes that its stock is severely undervalued.
The buyback volume accounts for 8.18 per cent and 3.27 per cent of the company's listed B-shares and total equity, respectively. Upon completion of the buyback, the company's annual earnings per share are expected to increase by 0.06 yuan, or 3.61 per cent.
The company said that the buyback would not heavily influence its operation.
JAPANESE CO TAKIRON DEVISES BIODEGRADABLE BONE-SET SCREW
Tokyo (ANTARA News/Asia Pulse) - Takiron Co. (TSE:4215) has developed a hollow version of its biodegradable screws used to fasten bones together when mending fractures and performing bone transplants.
The advantage of hollow screws is that they can be positioned directly over the pin for exact placement, but until now strength has been an issue.
Takiron solved the problem and is able to make hollow screws that are nearly as strong as the solid types by forging the starting materials the same way a sword is forged.
IDEMITSU TO MAKE PLASTICS IN CHINA TO MEET REGIONAL DEMAND
Tokyo (ANTARA News/Asia Pulse) - Idemitsu Kosan Co. (TSE:5019) announced plans Wednesday to produce three high-performance plastics in China, with a plant in Guangzhou scheduled to go into operation in October 2009.
The company markets engineering plastics in the U.S., Europe, Japan and other parts of Asia. Production of such plastics sold in Asia is currently outsourced to Chinese firms.
But with the Asian market growing roughly 20 per cent a year, Idemitsu seeks to expand sales even further by launching in-house operations.
Source:
Business in Asia Today - JUNE 05, 2008
published by Asia Pulse
COPYRIGHT © 2008
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